留学生dissertation：应收账款对于企业发展的影响
Accounts receivable enterprises to adopt commercial credit sales of goods or services that customers should trade without money collected is the company's claims. The recoverability of accounts receivable in the future is uncertain , uncollectible accounts receivable is the company's book profit loss , which is the financial aspect must face a big risk. It can be said , accounts receivable on corporate profits have a substantial impact on the quality of analysis , mainly in the following points:
应收账款是企业采纳生意信誉出售货物或者者需要劳务而应向存户应收而未收取的帐目，是企业的债务。应收账款在将来是否发出具有不愿定性，无奈发出的应收账款便是企业的帐目成本丧失，这是企业理财范围必需面临于的一大危险。能够说，应收账款对于企业成本品质综合存在本质性反应，主要表现几点：
One , the receivables book profit of virtual enterprise , different users of financial statements to mislead deep understanding of profits
一、应收账款会虚化公司的账面利润，误导不一样生产进度报表运用者对利润深层级的了解
As we all know , the profit calculation formula is "profit = revenue - costs ", where the "income" mainly refers to the formation of the main business income debtors . Receivables main business revenue generating means cash inflow is not formed , it is only right to receive payments of enterprises . Therefore, prior to the recovery of accounts receivable , corporate so-called profits, but the book profit , digital concepts rather than reality profits. Equivalent to the amount of accounts receivable profits without real money as a basis , but " paper wealth " only.
家喻户晓，利润的计算式子是“利润=收益-花销”，这处的“收益”主要是指形成应收账款的主营业务收益。应收账款的产买卖味着公司主营业务收益没有形成现金流入，它只是公司的收款权益。
If the income statement users look beautiful on the profit data , not its depth of analysis, is exciting figures on the report fooled , it is impossible for the operations of the enterprise comprehensive and accurate analysis . Surface data alone accounts if investors make decisions , it is very likely to fall into a blind situation , resulting in poor decisions result in losses .
Second, accounts receivable weakening earnings significance of corporate performance evaluation
Earnings per share refers to ordinary shares for every share held businesses can enjoy enterprise net profit or net loss to bear . Earnings per share is often used to reflect the company 's operating results to measure the level of ordinary shares in profits and investment risks , investors and other users of information , according to evaluate the profitability of the business , forecasting corporate growth potential , and then make the relevant economic decisions key financial indicators. In the case of profitable enterprise , to create the index reflects the after-tax profits per share , in general, or the information needs of users of financial statements to understand that earnings per share were higher , indicating that firms create more profit . But if corporate profits mostly through accounts receivable to support it , and the lack of a realistic ability to pay cash as the basis, then , the company's earnings per share targets for the evaluation of the role of corporate earnings will be weakened , because each EPS did not bring enough cash inflows. High receivables to reduce the company 's cash flow , cash flow business if insufficient , it may lead to funding strand breaks , if triggered the financial crisis , will be due to the deteriorating financial position and reduce solvency , so that corporate reputation damage.
Third, the main business profit receivable weaken the leading role of corporate performance evaluation .
In analyzing the profitability of the business , the firm 's main business should be to grasp , the main business profit is the core of corporate profits . Leading enterprise products or dominant business income is considered to be epitomized core competitiveness of enterprises profit target , even for distributed enterprise business risk or extended value chain , to expand the scale of foreign investment , it must be built on the core competitiveness of products or business basis. A business is only obtained from the main business profit is true and reliable profits. Under normal circumstances , the main business profit is the main source of profit , debtors directly affect the operating profit targets. Profit from principal operations are recognized evaluation core business performance indicators . Profit from principal operations , which meant that companies highlight the main industry , operating performance is good. But it is undeniable that a certain number of accounts receivable will profit from principal operations have the potential risk of loss , the risk of environmental degradation from the market impact of business activities on the debtor . If the customer is insolvent and bring to the enterprise debt , then even the best book on the enterprise 's performance is nothing but a mirror of the flower. Then , through the main business profit on corporate performance should be evaluated on the lack of convincing .
Fourth, to some extent, accounts receivable may mask the authenticity of the owner's equity .
Accounts Receivable is actually credited into the profits of an enterprise fails , the results of operations in the accounting policy , it became a corporate book profits . From this point of view , debtors undoubtedly exaggerated the company's equity . Enterprises required to book profit as the base of surplus reserves , etc., remaining after allocation number is the company's retained earnings. Trade surplus in the owner's equity will reserve and undistributed profit project data does not seem so authentic, if simply from the balance sheet of the owner's equity , you can not intuitively its real situation.
Five , accounts receivable become one of the tools of financial fraud
The way a lot of corporate financial fraud , including accounts receivable can become a tool to manipulate profits . For example, enterprises in order to increase the profits of a fiscal year , increased by false invoices receivable , which can be reached through the inflated revenues inflated profits in the next year or drilled loopholes in the system to return to sales receivable by the then reversed ; again, the enterprises according to the length of the aging receivables provision for bad debts according to regulations , less provision for bad debts can increase profits , many companies knew some old accounts receivable has become a bad debt , but in order to inflate profits are not offset , or to conceal profits and make more bad debts , financial fraud seriously . The most obvious is that some of the annual reports of listed companies playing in the so-called " two hundred and twelve " loss game : that two consecutive years of losses , and then through the " technical means " manipulation of profits , and ultimately to a " turnaround " , followed consecutive years of losses , again a " turnaround " , by adjusting the profit escape delisting.
Competition in the market economy , enterprises for their own survival and development in the business activities must make a profit, and as much as possible to enable enterprises to maximize profits. In order to expand market share needs, each transaction of any business can not do much two cargo clearance , but the extensive use of commercial credit, credit is the company to expand sales of the main means of competition, therefore , in favor of corporate debtors accurately grasp Annual enterprise information . In order to better analyze the quality of corporate profits , profit targets through effective analysis of enterprise-wide operations , evaluation of enterprise management level, revealing receivables true impact on corporate profits , I think we should do the following work :
1 Current profit analysis should focus on credit analysis of the proportion of financial indicators
Enterprises should be carried out in the main business income " credit sales " detailed accounting and shown separately in the income statement , accurate calculation and analysis of the current credit rate indicators reveal the credit business and focus on the causes . " Credit ratio = Accounts Receivable / main business income ," high credit ratios , indicating that corporate cash flows in current operating income less current profits lack of monetary support, the reality facing great risk of bad debts , there is a "lost profits" possible. If the main business income credit ratio is low , current profits becomes authentic.
(2) calculate the proportion of accounts receivable and profits , good profit analysis
Enterprises should calculate total accounts receivable ratio of total profit by this ratio to achieve an accurate analysis of the real situation of profit . Enterprises can conduct this ratio vertical and horizontal comparison , in order to assess the level of corporate earnings and accounts receivable management. Under normal circumstances , if an enterprise has a large enough amount of revenue , accounts receivable , the lower the proportion of share of profits , indicating that the real level of profitability , high level of accounts receivable management , corporate financial management ability.
(3) Strengthen the daily management of accounts receivable , to develop effective measures to speed up the return of funds
Any enterprise must establish credit risk awareness, strengthen credit risk management , prevent and resolve credit risk, high level of awareness and recycling to reduce accounts receivable financial significance. Enterprises should make the debts of the credit analysis and evaluation work for the corporate control of accounts receivable to provide information support for enterprises to do related work necessary reminder . Enterprises must be existing receivables accurate risk rating , and periodically the possible impact on profits for a reasonable assessment of preventive measures. First, companies should always pay attention to accounts receivable recovery ratio index calculation and analysis , "accounts receivable recovery ratio = sales of goods or services received in cash / Average accounts receivable" , if the ratio is very low, indicates receivables return is very slow, accounts receivable management needs to be strengthened ; Second, do accounts receivable collection work , from the ideological high level of awareness of the importance of the return of funds , companies can take an active cash discount policy , you can also take daily Dunning way , as soon as possible to recover amounts owed by other companies ; once again , good job monitoring accounts receivable , accounts receivable monitoring should include the occurrence of credit business , to recover the amount late risk warning and other aspects as well as changes in the debtor's credit status .
4 Income Statement and Cash Flow Analysis of corporate profits combined
Income statement reflects a certain period of enterprise production and operation results in the financial statements . Statement of the enterprise and its operating income during certain periods of the same operating costs and expenses for the ratio to calculate the net profit after tax corporate certain period . Through the income statement reflects income , costs and expenses and other indicators, production and operation to know the benefits, costs and time-consuming , reflecting the production and operating results.
Statement of Cash Flows reflects enterprise in a certain accounting period on inflows and outflows of cash and cash equivalents in the financial statements of the information . Cash Flow to analyze corporate investment and financial activities on operating results and financial position .
Three statements in the enterprise , corporate balance sheets to provide certain financial position date situation . It provides financial information is static and does not reflect the reasons for changes in financial position , we can not show these assets , liabilities to the enterprise or spent much cash . Income statement reflect the company 's operating results certain period , provide dynamic financial information, but it can only reflect the composition of profit , but does not reflect the operating, investing and financing activities to the enterprise or how much to pay in cash, and does not reflect investment income and funding all matters . Provide a statement of cash flows of the cash inflows and outflows during the dynamic financial information, indicating that the enterprise during the reporting period from operating , investing and financing activities in the cash and the cash usage , able to explain the assets, liabilities , net assets of the reasons for the change .
Cash flow on the balance sheet and income statement added that the role played , in particular the lack of cash flow to compensate for the income statement . Statement simply states that the elements of the corporate profits and results , in the presence of a large number of debtors in the case , profit is only a concept only, it can not explain the real situation to achieve profits and extent . The combination of income and cash flow analysis of corporate profits , not only can understand the composition of corporate profits and results of quantitative analysis carried out for profit , but also through the cash flow of profits for qualitative analysis .
5 Profit Analysis Information disclosure norms , be sure to accurate and complete
Profit analysis of corporate disclosure information , not only to do the current disclosure of information , but also to make the chain of information disclosure . Especially as main business revenue growth , the main business profit margins, operating profit growth , net profit cash levels , net cash flow and net profit , net profit, net profit growth , accounts receivable turnover ratio and other information disclosure , the language must be standardized to express complete disclosure of data must be truthful and accurate.
In addition, the cash ratio index as the most stringent of the most robust measure of short-term solvency can also be used to help analyze the quality of corporate profits , because accounts receivable is caused by one of the reasons for the low cash ratio .
