英文實(shí)習(xí)報(bào)告

1、英文實(shí)習(xí)報(bào)告Intern ship Report Finan cial An alysis of a TeashopSTUDENT:STUDENT NO.:COLLEGE:MAJOR:INSTRUCTOR:AbstractWith in my intern ship in the teashop, I worked as the acco untant assista nt first and later as an inven tory coun ter. I un derstood how the acco unting processes actually work in a local

2、 compa ny and how did they calculate the value of inven tories. Based on the releva nt kno wledge on our books, such as cost flow assumpti on, inventory system and measures, financial ratios, I briefly analyzed these systems in the teashop.The teashop is legitimated to sell all sorts of tea, the mos

3、t popular ones are gree n tea, red tea and oolong. It is a sole proprietorship company. Its status determines it to adopt those system and methods that are easy, cost-sav ing and convenient to practice. As a result, its inventory system and cost flow assumption are all determined based on the rule.

4、For accounting ratios, the teashop itself did not prepare a complete bala nee sheet because it is not listed in the stock market. So I only in cludes some finan cial data n ecessary for the an alysis.【Key Words 】sole proprietorship; teashop; inventory system; cost flow assumpti on; acco unting ratio

5、畢業(yè)生實(shí)習(xí)報(bào)告對一個(gè)茶莊的財(cái)務(wù)分析【摘要】2009年三月至四月，我在茶莊進(jìn)行了為期一個(gè)月的實(shí)習(xí)。這篇報(bào)告主 要記錄了我實(shí)習(xí)期的工作，以及根據(jù)本專業(yè)所學(xué)的會(huì)計(jì)方面的知識(shí)對本茶莊的會(huì)計(jì) 運(yùn)用的分析，包括盤存方法、一些財(cái)務(wù)指標(biāo)的解釋和分析等，并根據(jù)實(shí)際情況，給出了 一些相應(yīng)的改進(jìn)措施?！娟P(guān)鍵詞】財(cái)務(wù)指標(biāo)；茶莊；盤存法；個(gè)體企業(yè)Content1. In troducti on (42. An alysis tool (52.1. Finan cial ratios (52.2. Inven tory system and measureme nt (62.3. Cost flow assumptio

6、n (73. Finan cial Ratio an alysis (84. I nven tory system an alysis (95. Cost flow assumpti on an alysis (96. Conclusion (117. Refere nee (128. Ackno wledge men ts (131. In troducti onMy intern ship period lasted from middle March to the end of middle April. My job is to check the inven tory with th

7、e pers on in charge of check ing and assist the acco untant. During this period, I have lear ned how a teashop orga ni zes and the accounting process including making journal entries, preparing accounting files and check ing inven tories. In the reality, a compa ny always has to make decisi ons that

8、 our books will n ever cover. Some are closely related with the society en vir onment, such a gua nxi. Thus we can lear n the basic kno wledge from books, but how to use them properly in the society is ano ther kind of kno wledge as well.The main customer is adult men, some purely enjoy the taste of

9、 tea, and some buy tea as a prese nt to others. Also, a small range of wome n came to buy tea as well and they told me that they thought drinking tea can help lose weight, especially oolong. In order to promote the sales, the teashop has carried out a promotion which specialized on differe nt kinds

10、of con sumer targets and differe nt con sumer n eeds.2. An alysis Tool2.1. Finan cial ratiosTo analysis a company ' s performanee, there are many different ysa one significant and easy way is to calculate ratios, through those numbers, we can how exactly a compa ny performs.For a private compa n

11、y, there are mainly 4 kinds of ratios:(ICompa ny profitability ratios: they are used to evaluate how effective a company has been in meeting its overall profit objectives, particularly in relation to the resources inv ested. In clud ing:s efficie ncy in con troll ing costs andProfit marg in: used to

12、 evaluate a compa ny expe nses in relatio n to sales.Profit marg in = net in come / net salesRetur n on total assets: in dicates how efficie ntly a compa ny uses its econo mic resources.Retur n on total assets: net in come / total assets(2Liquidity ratios: used to evaluate a compa ny's ability t

13、o meet itscurre ntmaturi ng finan cial obligati ons. These ratios gen erally invo lve all or most of the components of a company' s working capital. Including:Curre nt ratio:probably the most commo nly used ratio to evaluate a compa nyshort-run liquidity. Sometimes it is referred to as the worki

14、ng capital ratio.Current ratio = current assets / current liabilitiesAcid- test ratio: a more severe test of a compa ny-term debheptayingabilities.Acid-test ratio = quick assets / current liabilities(3Activity ratios: are used to evaluate the liquidity of certain current assets by's operating cy

15、estimati ng the len gth of various segme nts of a compa ny/cle. The ratiosare in dicators of the efficie ncy with which the compa ny uses its short-term econo micresources.Inven tory turno ver: in dicates the nu mber if timesthe inven tory is“tur ned overor sold duri ng that period.Inven tory turno

16、ver = cost of goods sold / average inven tory Receivables“tur ned over ”turno ver: in dicates how many times receivables areor collected each period.Receivables turno ver = net credit sales / average net receivables Payablesturno ver: measures the nu mber of times acco unts payable tur n over duri n

17、g the year.Payables turno ver = cost of goods sold / average acco unts payable(4Stability ratios: used to evaluate the long-run solve ncy and stability of acompa ny. They provide evide nee of the safety of the inv estme nts in the compa ny bylon g-term bon dholders, preferred stockholders, and com m

18、on stockholders.Debt ratio: in dicates the perce ntage of total assets con tributed by creditors.Debt ratio = total liabilities / total assetsTimes in terest earn ed:used to evaluate the ability of a compa ny to cover itsterest obligations through its annual earnings. It is a measure of the safety o

19、f creditors ' inv estme nts in the compa ny.inTimes in terest earned = pretax operat ing in come / in terest expe nse2.2. Inven tory system and measureme ntA compa ny may acco unt for inven tory qua ntities and costs using either theperpetual system or the periodic system.Perpetual inven tory sy

20、stem: requires the compa ny to main ta in a continu ousrecordof the physical qua ntities in its inven tory. It records the purchase, or product ion.and use of each item of inventory in detailed subsidiary records, although often onlyinun its without in cludi ng cost.Periodic inventory system: do not

21、 require the company to maintain a continuousrecord of the physical qua ntities (or costs of inven tory on han d. It takes physicalcounts periodically, which should be at least once a year and gen erally at the end of the year.2.3. Cost flow assumptio nsBecause of the variatio ns in price, the cost

22、of each inven tory may be differe nt.And a problem occurred, how to record the cost of inven tory? Cost flow assumpti ons solved this problem. The major cost flow assumptions currently used are listed in the followi ng:Specific identification: under this, a company identifies each unit sold and each

23、 unit rema ining in the ending inven tory and in cludes the actual costs of those un its in cost of goods sold and ending inven tory, respectively.First-in, first-out (FIFO: under this, a company includes the earliest costsin curred in the cost of goods sold, and in cludes the most rece nt costs in

24、the ending inven tory .In other words, it assumes that the goods purchased first are sold out first.Average cost: un der this assumpti on, a compa ny con siders all the costs and un its to be comin gled so that no in dividual un its or costs are ide ntified. It is also known as the weighted average

25、method. In other words, it mixed all inventories and calculated an average cost.Last-i n, first-out (LIFO: un der this assumpti on, a compa ny in cludes the most recentcosts in curred in the cost of goods sold, and in cludes the earliest costs in the ending inventory. In other words, it assumes that

26、 goods purchased in the last are sold out first. It is the opposite of FIFO.3. Finan cial Ratio an alysisThe teashop is a sole proprietorship compa ny. Taking some nu mbers from the net in come sheet and assets sect ion, we can get the follow ing an alysis ratios:Profit margi n: 14.1%Retur n on Tota

27、l Assets: 48%Inven tory Turno ver: 17.36 timesDebt ratio: 0Receivables turno ver: 1000 timesProfit margin is 14.1%, that means costs and expe nses occupy 85.9% of total sales. A great many costs and expe nses in curred from the first step in producti on to the final sale. The cost of raw material an

28、d labor probably occupy a high perce nt in the total cost. In order to be more efficient in sales, it has to decrease costs and expe nses. Finding new ways to decrease cost is importa nt because profit is the essential of a company, and then profit margin will go up.Return on total assets is 14.2%,

29、it means net in come is 14.2% of total assets.Differe nt in dustry may have differe nt levels of return on total assets. In the teashop in dustry, sufficie nt inven tory is the most importa nt aspect. Only with a small shop and one or two employees, can a teashop ope n. Thus it has not to in vest a

30、lot in fixed assets. As a result, return on total assets ratio is 48%, which is pretty high compared with other industries. To further improve this ratio, the teashop can estimate the needs of tea and store the most efficient number of tea. This can decrease the inven tory value and make the cash fl

31、ows more flue ntly.Inventory turnover is 17.36 times. Inventory can be sold 17.36 times a year.Gen erally, the higher the inven tory tur no ver, the more effective the compa ny is in the operations, the lesser the amount of investment that must be tied up in inventory and the shorter the operat ing

32、cycle n ecessary to reple nish cash. And for the teashop, inven tory turno ver is not bad, thus it en ables the compa ny to have more money to do other operati ng activities.Debt ratio is 0, means the teashop borrows nothing, and the owner provides all the funds needed. As I have mentioned before, i

33、t is a sole proprietorship company. 0 debt ratio indicates it can borrow some money from banks, or other people, as long as the in terest rate is not high, and the ben efit of borrow ing money is greater tha n the pitfalls.Receivables turno ver is 1000 times, acco unt receivables are collected 1000

34、times a year. Usually, customers pay at the time of purchasing tea, only those customers who buy a large amount of tea and are acqua intance of the owner can pay later. And a quicker receivables collecti on period en ables the compa ny to in vest more.4.lnven tory system an alysisThe teashop uses th

35、e periodic inven tory system, because tea is relatively low cost and easy to count. Also, in stall ing the perpetual inven tory system costs a lot, the ben efit same to be much smaller tha n the expe nses, so it is not n ecessary to in stall the perpetual inven tory system. Usually, at the end of ea

36、ch mon th, the pers on in charge of check ing inven tories goes into the storages and count inven tories.5. Cost flow assumpti on an alysisThe teashop adopts the periodic inven tory system, it does not record each unit sold, soit is really difficult to use specific identification assumption, which i

37、s an expe nsive and labor consuming work. FIFO and LIFO assumpti ons n eed moreen ergy too, because they require a detailed record of the inven tories. Usually, at theend of each mon th, the pers on in charge of check ing inven tories will count theremaining tea. They calculate an average cost first

38、 by dividing the total costs of tea purchased by the total qua ntity. Then they can get the cost of tea, it is just the product of the ending qua ntity and the average cost. Differe nt cost flow assumpti ons used, the effects on tax and in come may be differe nt. For the teashop, the average cost fl

39、ow assumptio n is easy to use, but has a disadva ntage in tax. In 2008, the price is going up, and then it can use the last-in, first-out flow assumption in order to pay less tax. 106. Con clusi on After my intern ship period in the teashop, I have lear ned a lot.The kno wledge on books may not suit all compa nies in the reality, they have to think out the best and convenient way to man age the compa ny, to con trol the manufacturing process, and to earn more mo