【精品文档】244关于公司企业财务报表分析管理有关的外文文献翻译成品：财务报表分析（中英文双语对照）.docx

此文档是毕业设计外文翻译成品（ 含英文原文+中文翻译），无需调整复杂的格式！下载之后直接可用，方便快捷！本文价格不贵,也就几十块钱！一辈子也就一次的事！外文标题：Financial Statement Analysis外文作者：Jones KR文献出处: Enterprises Financial Journal ,2019,52(8),21-48 (如觉得年份太老，可改为近2年，毕竟很多毕业生都这样做)英文5618单词，35583字符(字符就是印刷符)，中文9388汉字Financial Statement Analysis3.1IntroductionAn integrated valuation approach requires that a financial statement analysis be carried out for prior years in order to:1.understand the target company’s track record;2.make sure the projected outlook is consistent with past results;3.identify the most appropriate valuation method.A financial statement analysis is necessary to understand the performance of a company and gain greater insight on:• the relationship between investments and financial sources;• the company’s ability to meet its obligations;• the ability to generate positive cash flows;• the propensity to remunerate investments;• the attitude to efficiently operate.3.2How to Set Up the Financial Statement AnalysisThe financial statement analysis comprises two steps: a technical step and an interpretation step. The technical step consists of acquiring information and organizing it according to a consistent logic. The financial statement analysis must have a “bespoke” approach, in the sense that it must fit the characteristics of the company, just like a “tailor-made suit”. Therefore, the analysis must be carried out taking into account the surrounding environment and the target company’s specific situation.The technical step is made up of two substeps:1.reclassification of the financial statements;2.selection of the most suitable ratios.The first substep consists in reclassifying the financial statement items according to a different logic. Companies often use different terminologies and for- mats to present their financial results. Consequently, comparing performance across different companies, and sometimes within the same company over time, may prove difficult. Through accurate reclassification a single template may be used for the balance sheet, income statement, and cash flow statement. The reclassification is not merely an uncritical reorganization of financial statement items. Other aspects must be considered, such as:(a) the accounting standards adopted: although countries are gradually shifting toward the IFRS, in many of them several accounting standards coexist, which impose different rules and criteria to present information. In Europe, for example, the IFRSs are mandatory only for listed companies, banks, and financial companies; they may also be applied by other companies on an optional basis (but not everywhere).(b) accounting changes in accounting estimates: over time, a company may change the way it treats financial statement items;(c) quality of disclosures: in addition to the mandatory minimum information required by the accounting standards, each company can provide the information it deems most relevant. An accurate disclosure allows for better understanding and, therefore, more accurate classification of financial statement items;(d) segment information: companies engaged in several businesses are required to provide information for each of them. If an enterprise does not have an efficient segment reporting, the financial statement reclassification may lead to inconsistencies;(e) non-financial information: sometimes non-financial information provides useful elements to better understand financial information; an integrated reporting approach considerably extends the set of information a valuer can draw from when applying an integrated valuation approach.The second subste showing:(a) the company’s ability to meet its obligations;(b) the balance between investments and financial sources;(c) profitability.p consists in selecting the ratios that are most appropriate for the purpose of Valuers must select the ratios that best fit the purposes of their assignment. Once the technical step is completed, the interpretation step follows, which is considered as the most complex part of the whole analysis process. Based on the information provided by the combined analysis of all ratios, the valuer must draw a summary assessment on the company’s “state of health”.The quotation marks are not by coincidence, as a valuer must formulate a diagnosis on the company’s condition, just like a doctor. Just like a doctor is required to interpret the symptoms, a valuer must develop the ability to grasp what is behind the figures and establish logical relationships between the various elements available. In other words, valuers must sharpen their acumen to combine apparently unrelated financial and non-financial information into a coherent whole. Data should not be read as isolated pieces, but in relation to the sector of the target company.3.3Comparing ValuesThe financial statement analysis provides a consistent framework for a firm’s results. For greater completeness these results mus。