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财务分析/全国会计领军人才丛书·会计系列

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《财务分析/全国会计领军人才丛书·会计系列》基于投资者和内部经营管理者两个视角,在介绍传统的财务分析内容的同时,侧重于讲述企业内部经营管理者视角的经营分析。相对于传统的财务分析,经营分析更重视从内部经营管理者的角度,结合企业自身的战略定位、经营特点、经营目标等,发现经营过程中的异象,剖析问题产生的根本原因,改善企业的经营决策,助力企业的长远健康发展。
基于以上考虑,本书首先对财务分析进行了简要概述,并系统介绍了财务分析中的基本方法;构建了一个经营分析框架,这一框架以哈佛分析框架为蓝本,并进行了适当的丰富和拓展;按照这一框架对具体内容进行了详细讲述,包括战略分析、会计分析、财务分析,其中财务分析根据不同的分析思路分为基于财务能力的分析思路、基于生命周期的分析思路、基于价值创造的分析思路以及基于经营质量的分析思路。
本书适合开设相同或类似课程的所有专业的本科生学习,这些专业包括会计学、财务管理、审计学、资产评估、金融学等专业,同时也可作为这些专业研究生以及MBA、MPA、MPAcc、MV、Maud等专业硕士学习的参考教材。
Author Description

池国华,东北财经大学会计学院教授、博士生导师,中国内部控制研究中心副主任,财政部企业内部控制标准委员会咨询专家,中国会计学会内部控制专业委员会委员,全国会计学术领军人才。主要从事内部控制与公司理财等领域的研究,出版有《企业内部控制规范实施机制研究》、《EVA管理业绩评价系统模式》等著作;主编有《内部控制与风险管理》等教材;在《经济研究》、《管理世界》、《会计研究》等期刊发表学术论文二十余篇;主持国家自然科学基金、教育部人文社会科学等十余项研究课题;获得辽宁省普通高等教育本科教学成果一等奖、第四届中国高校人文社会科学研究优秀成果三等奖、杨纪琬奖学金优秀博士论文奖等奖励。
Catalogue

第1章财务分析概述
1.1财务分析的目的与原则
1.2财务报表的结构与内容
1.3财务报告体系的构成和关系
第2章财务分析方法
2.1比较分析法
2.2结构分析法
2.3趋势分析法
2.4比率分析法
2.5因素分析法
2.6综合分析法
2.7图解分析法
第3章经营分析框架
3.1基本框架
3.2战略分析
3.3会计分析
3.4财务分析
3.5前景分析
第4章战略分析
4.1行业分析
4.2竞争战略分析
第5章会计分析
5.1资产负债表分析
5.2利润表分析
5.3现金流量表分析
第6章基于财务能力的财务分析
6.1盈利能力分析
6.2营运能力分析
6.3偿债能力分析
6.4发展能力分析
第7章基于生命周期的财务分析
7.1基于资金的分析
7.2基于收入的分析
7.3基于利润的分析
第8章基于价值创造的财务分析
8.1公司价值三维平衡分析框架
8.2EVA价值树分析
第9章基于经营质量的财务分析
9.1盈利质量分析
9.2资产质量分析
9.3现金流量质量分析
Book Abstract

财务分析如此重要,无论理论界还是实务界都越来越重视,不管是思路框架还是方法工具,都发展得越来越成熟。当然,关于财务分析的教材亦不少见。那么我们为什么还要编写这本财务分析教材呢?最重要的原因是我们观察到主流的财务分析教材大多是基于投资者视角编写的,他们更倾向于将财务分析作为一种企业外部人员的投资决策工具,以获得企业是否有能力给予回报、是否有能力偿付债务等信息,来帮助作出正确的投资或信贷决策。然而财务报告对于企业内部经营管理者而言,不仅是要对外报送的“成绩单”,而且是其全面掌握及深入了解企业经营管理状况的重要信息渠道和进一步决策的重要依据,换言之,企业内部经营管理者也是财务报告的重要使用者。因此,从企业内部经营管理者视角进行的财务分析,或者为区别传统财务分析起见,称之为经营分析,亦是一项普遍而重要的工作。常有一些实务工作中的经营管理者表示,他们也很想充分利用财务报告中的信息,却常常困惑于该如何将所需要的信息从抽象综合的数据中释放出来:假如我想进行战略调整,我该如何利用财务信息来帮助我进行战略决策呢?财务报告信息繁多,财务分析方法更是五花八门,我该从哪里入手?又该如何选择分析的侧重点呢?如此种种,都是经营管理者亟须解答的。而现有的财务分析教材对于这一点却不甚重视。本教材正是试图从这一角度对目前的财务分析教材进行完善,在包含传统的财务分析内容的同时,侧重于讲述企业内部经营管理者视角的经营分析。
相对于传统的财务分析,经营分析更重视从内部经营管理者的角度,结合企业自身的战略定位、经营特点、经营目标等,发现经营过程中的异象,剖析问题产生的根本原因,改善企业的经营决策,助力企业的长远健康发展。对于身处经济全球化和风险常态化经济环境中的现代企业而言,这是其提升经营管理水平,保持基业长青的重要“武器”。经营分析是对传统财务分析的重要补充,当然,相对传统财务分析,经营分析有其特殊性,这主要体现在:第一,经营分析致力于服务经营管理,因此在具体的分析思路上更注重与具体经营实际的结合,譬如如何对不同生命周期阶段的企业进行有针对性的分析;如何从价值创造目标角度进行分析;如何从经营表象透视经营质量等。因此,除了传统的财务能力分析以外,经营分析拓展了更丰富的分析思路。第二,经营分析是基于经营管理者的视角分析,因此在分析内容上更注重与经营管理需求的结合,譬如重视战略分析;重视经济活动的效果效率;重视现有信息对未来经营决策的作用等。第三,经营分析在具体的分析方法上更侧重反映经营管理状况,譬如关注与企业预算目标的对比;利用更切合反映经营管理的指标。当然,经营分析并不完全独立于传统财务分析,譬如它同样需要以会计分析为基础来保证分析资料的可靠性。
基于以上考虑,本教材首先在前2章对财务分析进行了简要的概述,并系统介绍了财务分析中的基本方法,以便读者了解与财务分析有关的基本知识以及本教材的独特之处;其次,我们构建了一个经营分析框架(第3章),这一框架以哈佛分析框架为蓝本,进行了适当的丰富和拓展,目的是使读者建立起本教材所谓经营分析的整体结构;最后,我们按照这一框架对具体内容进行详细讲述,包括战略分析(第4章)、会计分析(第5章)、财务分析(第6
~9章),其中财务分析根据不同的分析思路分为基于财务能力的分析思路(第6章)、基于生命周期的分析思路(第7章)、基于价值创造的分析思路(第8章)以及基于经营质量的分析思路(第9章)。
鉴于财务分析较强的实践性,为便于读者理解和掌握,本教材采用了大量的案例,并且这些案例大多来自现实经济生活中的上市公司,在选取和编写过程中力求其时效性、针对性、趣味性,为读者呈现真实有趣的财务世界。案例主要包括每章开头的引例以及各章节正文中的分析型案例。教学过程中可按本教材章节顺序进行,对于财务分析方法,虽然本教材安排了专门的章节讲述,但要熟练运用仍需不断强化,在后续章节仍应重视基本方法的具体运用。
鉴于不同高校、不同专业对财务分析课程的定位不同,因此建议在本科教学阶段可侧重于财务分析体系架构与基本方法的学习,采用“框架+专题”教学形式,即以前五章为教学重点,同时视情况选择财务分析部分的若干章节进行深入的应用探讨。而对于相关专业的研究生教学,我们建议可根据研究生的专业基础,既注重内部控制体系架构与基本方法的学习,也可以采用专题探讨的形式,在回顾或简要介绍前五章的基础上,重点对财务分析部分的四章进行系统学习。
本书适合开设相同或类似课程的所有专业的本科生学习,这些专业包括会计学、财务管理、审计学、资产评估、金融学等专业,同时也可作为这些专业研究生以及MBA、MPA、MPAcc、MV、Maud等专业硕士学习的参考教材。当然,也可以作为企业开展经营分析培训的教材使用。
本教材由池国华教授担任主编,具体分工如下:第1,2章(池国华),第3章(池国华、杨金),第4章(池国华、韩雨),第5章(杨金、韩雨),第6章(池国华、邹威),第7章(池国华、杨金),第8章(池国华、杨金),第9章(池国华、邹威)。
在这里,我们还要感谢郭龙飞、郭菁晶、时萍、邢昊、谷峰、刘粟、吴良静、张志群、赵悦、尤梦茹、潘孙等对本教材的贡献,他们参与了各章节案例资料的收集整理和初稿内容的整合校对,而且作为本教材的第一批读者,为教材的完善提出了许多建设性的意见。也正因为有他们的参加,才使得教材更实用。
在本教材的写作过程中,我们参阅了国内外大量的文献和资料,其中信息明确的作者已列于脚注或参考文献中,而信息不全的部分,因无法详细查证其出处,故未能列出。在此,对所有企业内部控制与风险管理研究领域的专家和学者致以最诚挚的谢意。
……

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Jingdong book