管理人員必備財務(wù)知識培訓(xùn)講義

1、 了解企業(yè)財務(wù)本質(zhì)及財務(wù)管理原理了解企業(yè)財務(wù)本質(zhì)及財務(wù)管理原理Understand enterprises financial essence and financial management principles 財務(wù)信息系統(tǒng)的基本構(gòu)架財務(wù)信息系統(tǒng)的基本構(gòu)架Financial information systems framework 財務(wù)報表分析基本方法財務(wù)報表分析基本方法Financial reports analysis日常經(jīng)營活動中常見財務(wù)機(jī)會和陷阱及其處理方法日常經(jīng)營活動中常見財務(wù)機(jī)會和陷阱及其處理方法Financial management optimization 1 企業(yè)財務(wù)

2、本質(zhì)企業(yè)財務(wù)本質(zhì) Enterprises Financial Essence 2 企業(yè)基本目標(biāo)企業(yè)基本目標(biāo) Corporate Objectives 3 管理人員財務(wù)職能管理人員財務(wù)職能 Managers Financial Responsibility1 1 基本概念基本概念 Basic Concept 2 2 演化過程演化過程 Evolution ProcessEvolution Process 3 3 會計(jì)方程會計(jì)方程 Accounting EquationAccounting Equation 4 4 三大財務(wù)報表三大財務(wù)報表 Three Major Financial Stateme

3、nts A. A. 盈利能力分析盈利能力分析 Profitability Analysis資產(chǎn)回報率資產(chǎn)回報率 ROA, 股東權(quán)益回報率股東權(quán)益回報率 ROE, 資產(chǎn)流動速率資產(chǎn)流動速率 Assets Turn Over Ratio B. 風(fēng)險指數(shù)分析風(fēng)險指數(shù)分析 Risk Analysis流動比率流動比率 Current Ratio, 負(fù)債負(fù)債/權(quán)益比率權(quán)益比率 Debt / Equity Ratio, 營運(yùn)償債能力營運(yùn)償債能力Operating Liquidity 1 投資投資決策決策Investment Decisions 2 預(yù)算管理預(yù)算管理Budget Management 3 生產(chǎn)

4、管理生產(chǎn)管理 Production Management 4 存貨管理存貨管理Inventory Management 5 應(yīng)收帳款管理應(yīng)收帳款管理Accounts Receivable Management 6 現(xiàn)金管理現(xiàn)金管理Cash Management 7 稅務(wù)計(jì)劃稅務(wù)計(jì)劃Tax Planning 8 內(nèi)部內(nèi)部控制控制Internal Control 9 運(yùn)用財務(wù)部資源運(yùn)用財務(wù)部資源Utilization of Internal Financial Expertise原原材材料料存貨存貨成成品品存貨存貨在在產(chǎn)產(chǎn)品品存貨存貨供供 應(yīng)應(yīng) 商商工工廠廠/辦辦公公室室固固定定資資產(chǎn)產(chǎn)現(xiàn)現(xiàn)金金債

5、債權(quán)權(quán)人人股股東東應(yīng)付應(yīng)付人人工工及及服服務(wù)務(wù)固定資產(chǎn)固定資產(chǎn)材料材料市場市場/客戶客戶應(yīng)收應(yīng)收現(xiàn)金銷售現(xiàn)金銷售賒銷賒銷市市場場銷銷售售費(fèi)費(fèi)用用折舊折舊 資金流轉(zhuǎn)和增值過程Capital rotation & value creation process 資金流轉(zhuǎn)典型環(huán)節(jié)及機(jī)會/陷阱Capital rotation & management opportunities 企業(yè)價值取向特征Company value proposition 資本投入及資本擴(kuò)張形式Capital injection & expansion pattern提供眾多的產(chǎn)品品種供選擇1. Function of Time

6、時間函數(shù) T0 :A0 = L0 + OE0 T1 : A1 = L1 + OE1 A0 + A= L0 + L + OE0 + OE OE 0 Tn 2. Maximize owners equity - business objective 游戲規(guī)則：股東權(quán)益最大化創(chuàng)意創(chuàng)意/ /原型原型中試階段中試階段商業(yè)化商業(yè)化高速擴(kuò)展高速擴(kuò)展兼并兼并/ /收購收購風(fēng)險投資風(fēng)險投資（種子基金）（種子基金）風(fēng)險投資風(fēng)險投資（風(fēng)險基金）（風(fēng)險基金）私募私募（金融投資（金融投資戰(zhàn)略投資）戰(zhàn)略投資）初次公開發(fā)行初次公開發(fā)行（IPO）(公眾投資）公眾投資）發(fā)債前發(fā)債前/后續(xù)后續(xù)發(fā)行新股發(fā)行新股（銀行和（銀行和公眾

7、投資）公眾投資）1. 利潤利潤 Profit2. 風(fēng)險風(fēng)險 Risk 財務(wù)會計(jì)財務(wù)會計(jì) Financial Accounting 企業(yè)的外部人士企業(yè)的外部人士-股東股東, 債權(quán)人等債權(quán)人等External users of information - usually shareholders, financial analysts, and creditors受會計(jì)準(zhǔn)則監(jiān)管受會計(jì)準(zhǔn)則監(jiān)管Compliance with generally accepted accounting principles使用過去會計(jì)期間的數(shù)據(jù)評估管理使用過去會計(jì)期間的數(shù)據(jù)評估管理者的表現(xiàn)者的表現(xiàn)Uses histor

8、ical data in evaluating performance of the firm and its managers by outsiders規(guī)則中要求的信息規(guī)則中要求的信息呈現(xiàn)的是匯總數(shù)據(jù)呈現(xiàn)的是匯總數(shù)據(jù)Regulations often specify how much information is enoughSummary data are presented管理會計(jì)管理會計(jì) Managerial AccountingInternal users of information- usually managers.Need not comply with generally

9、accepted accounting principlesUses estimates of the future for decision making and historical data for internal performance evaluation.Internal cost/benefit evaluation determines how much information is enough內(nèi)部費(fèi)用和利潤評估所需的內(nèi)部費(fèi)用和利潤評估所需的信息信息More detailed data are required about product costs, revenues,

10、and profits.企業(yè)的內(nèi)部人士企業(yè)的內(nèi)部人士-通常是管理者通常是管理者不受會計(jì)準(zhǔn)則監(jiān)管不受會計(jì)準(zhǔn)則監(jiān)管使用預(yù)計(jì)的數(shù)據(jù)作決策依據(jù)使用預(yù)計(jì)的數(shù)據(jù)作決策依據(jù), 歷史數(shù)據(jù)歷史數(shù)據(jù)作內(nèi)部管理評估作內(nèi)部管理評估對于產(chǎn)品成本對于產(chǎn)品成本收入收入利潤需要更具體利潤需要更具體的數(shù)據(jù)的數(shù)據(jù)Assets資產(chǎn)資產(chǎn)Liability負(fù)債負(fù)債Owners Equity所有者權(quán)益所有者權(quán)益收入收入 Revenue減減: 支出支出 Cost 利潤利潤 ProfitDo the company and Do the company and individual belong to individual belong t

11、o owners equity or owners equity or liability?liability?我們所在單位我們所在單位 個人是個人是股東的資產(chǎn)股東的資產(chǎn), ,還是負(fù)債還是負(fù)債? ?銀行現(xiàn)金銀行現(xiàn)金ACash in Bank客戶存款客戶存款A(yù)Client DepositA的利息收入的利息收入Interest Income A的利息支出的利息支出Interest Expense貸款貸款BLoanB的利息支出的利息支出Interest Expense應(yīng)收應(yīng)收BAccount ReceivableB的利息收入的利息收入Interest IncomeLarge-Scale Indust

12、rialization Management大規(guī)模工業(yè)化經(jīng)營大規(guī)模工業(yè)化經(jīng)營Small Workshop Management小作坊經(jīng)營小作坊經(jīng)營Manager = Owner管理者管理者=所有者所有者Single Entry System簡式記賬系統(tǒng)簡式記賬系統(tǒng)Manager Owner管理者管理者所有者所有者Double Entry System復(fù)式記賬系統(tǒng)復(fù)式記賬系統(tǒng)Cash Account Beginning Balance現(xiàn)金期初額現(xiàn)金期初額Cash Account Ending Balance現(xiàn)金期末額現(xiàn)金期末額Industrial Revolution Activator工業(yè)革命

13、催化劑工業(yè)革命催化劑1、Large scale financial resources and specialized skills synergy, add-value efficiency of social fortune 資金資源與專業(yè)管理技能相結(jié)合，資金資源與專業(yè)管理技能相結(jié)合， 社會財富增值效率；社會財富增值效率；2、Ownership transfer, accommodate liquidity 所有權(quán)轉(zhuǎn)移，資金市場效率；所有權(quán)轉(zhuǎn)移，資金市場效率；3、Liability import financial leverage, accommodate different risk

14、/ return expectation. 債務(wù)引入財務(wù)杠桿，風(fēng)險債務(wù)引入財務(wù)杠桿，風(fēng)險/回報?；貓蟆0 :Cash0 + CA0 + FA0 = CL0 + LL0 + OE0T1 :Cash0 + Cash + CA0 + CA + FA0 + FA = CL0 + CL + LL0 + LL + OE0 + OE Tn .Revenue - Expenses 收入- 費(fèi)用OELLCLCashCAFA產(chǎn)品成本銷售費(fèi)用管理費(fèi)用利潤融資活動投資活動營運(yùn)現(xiàn)金FA1LL1CL1利息稅資產(chǎn)回報率 ROANet IncomeAverage Total Assets凈利潤平均總資產(chǎn) =凈利潤總收入 =

15、X總收入總資產(chǎn)利潤率 =X資產(chǎn)周轉(zhuǎn)率 =Net IncomeTotal RevenueXTotal RevenueTotal AssetsProfit Margin =XAssets Turnover資產(chǎn)周轉(zhuǎn)率Assets Turnover =年度總收入Annual Revenue年度平均總資產(chǎn) Annual Average Assets年度應(yīng)收款銷售總額 Sales in A/R平均應(yīng)收賬款 Average Account Receivable年度產(chǎn)品成本 Total Product Cost平均存貨額 Average Inventory應(yīng)收賬款周轉(zhuǎn)率 Account Receivable

16、Turnover =存貨周轉(zhuǎn)率Inventory Turnover =固定資產(chǎn)周轉(zhuǎn)率Fixed Assets Turnover =總收入 Total Revenue平均固定資產(chǎn) Average Fixed AssetsNOWC營運(yùn)流動資金=應(yīng)收賬款 + 預(yù)付賬款 + 存貨 - 應(yīng)付賬款 - 預(yù)收賬款現(xiàn)金現(xiàn)金 Cash應(yīng)收賬款應(yīng)收賬款A(yù)ccounts Receivable存貨存貨Inventory預(yù)付賬款預(yù)付賬款Payment in Advance固定資產(chǎn)固定資產(chǎn)Fixed Assets資產(chǎn)資產(chǎn)Assets應(yīng)付賬款應(yīng)付賬款A(yù)ccounts Payable預(yù)收賬款預(yù)收賬款Unearned Reve

17、nue長期負(fù)債長期負(fù)債Long-Term Liability股東權(quán)益股東權(quán)益Owners Equity營運(yùn)流動資金營運(yùn)流動資金NOWC負(fù)債和股東權(quán)益負(fù)債和股東權(quán)益Liability & Owners Equity流動資金周轉(zhuǎn)率Working Capital Turnover =總收入 Revenue流動資金 Working CapitalAccounts Receivable + Payment in Advance + Inventory - Accounts Payable - Unearned Revenue股東權(quán)益回報率 =ROE凈利潤 Net Profit平均股東權(quán)益 Average

18、 Owners Equity=總收入凈利潤X總收入平均總資產(chǎn)X平均股東權(quán)益平均資產(chǎn)利潤率 =X資產(chǎn)周轉(zhuǎn)率X杠桿比率=RevenueNet ProfitXRevenueAverage AssetsXAverage Owners EquityAverage AssetsProfit Margin =X Assets Turnover X Leverage RatioSales銷售59Cost of goods sold產(chǎn)品成本24Minus 減減Contribution貢獻(xiàn)毛益35Common costs銷售費(fèi)用24Minus 減減 Operating Profit營業(yè)利潤11Interest a

19、nd taxes利息和稅5Net Profit凈利潤6 Return on assets資產(chǎn)回報率17% Return on equity所有者權(quán)益回報率13%Current Assets流動資產(chǎn)41Fixed assets固定資產(chǎn)25Plus 加加 Total assets總資產(chǎn)66Equity所有者權(quán)益46Liabilities負(fù)債20流動比率 Current Ratio =流動資產(chǎn) Current Assets流動負(fù)債 Current Liability速動比率 Quick Ratio =流動資產(chǎn)Current Assets存貨Inventory流動負(fù)債 Current Liabilit

20、y（2：1 比較好）（：1 比較好）清償能力清償能力 Discharge Ability ：=營運(yùn)資金 Cash from Operation流動負(fù)債 Current Liability短期營運(yùn)償債能力 Short-Term Operating Liquidity財務(wù)杠桿比率財務(wù)杠桿比率 Financial Leverage Ratio：總負(fù)債 Total Liability總資產(chǎn) Total Assets（ 2 比較好）總權(quán)益 Total Owners Equity利息保障倍數(shù)Interest Payment Ratio =利息和稅前利潤 EBIT年度利息費(fèi)用 Interest Expens

21、es（3倍正常）總權(quán)益 Total Owners Equity NPV0 or i 10%15% Payback 回收期2-5年Buy or Lease 租或買?Fi時間時間Time人口人口收入收入商業(yè)商業(yè)交通交通客流量客流量標(biāo)志標(biāo)志建筑物建筑物租金租金小店鋪互補(bǔ)小店鋪互補(bǔ) Market Risk市場風(fēng)險 Operation Risk 營運(yùn)風(fēng)險 Goals Setting 目標(biāo)設(shè)置 Alternatives Choice 方案/路徑，評估/選擇 Resources Organization組織資源 Pre-live Simulation 預(yù)演/彩排 Market Analysis市場分析 Mission Statement公司宗旨 3-5 Year Objectives 3年目標(biāo) Self SWOT Analysis 差異分析 Products and Servi