The difference between the two:

The former is aimed at the current situation of financial reporting; The latter is aimed at financial planning and forecasting, which I think is the biggest difference! !

Financial statement is the product of management operation and accounting system, which has great artificial influence. The accounting system itself retains considerable flexibility for many accounting methods, such as the depreciation period and depreciation method of fixed assets. If you choose different accounting methods, you will get different report figures. Therefore, it may be much more important to understand the thinking of management when making accounting choices than to understand the economic logic reasons of various accounting policies. All kinds of incentives faced by management authorities, whether radish or stick (positive incentives and negative penalties), are very important materials for financial statement analysis. If you can't recognize the role of "people" in the analysis of financial statements, but only analyze the figures on the statements, you are afraid of falling into the trap and not knowing it.

Concept 3. Economic analysis is the analytical basis of financial statements.

The analysis of financial statements often creates many financial ratios to judge the company's performance, but there is no absolute standard for most financial ratios to follow. How to judge whether these financial ratios are correct or not depends on economic analysis. The so-called economic analysis is to go back to the fundamentals of the company's operation, fundamentally understand various factors that affect the company's performance, such as business environment, business model, competition pattern, etc., and infer the company's value changes from the changes of these factors.

1. Analysis from the perspective of the whole enterprise: integrating accounting, finance and economy.

As well as the basic theories and principles related to management and other disciplines, to provide readers with life.

Learn the knowledge of flexible management.

2. Emphasis on application-level learning: guide readers to apply financial analysis to

Credit, investment and other decisions, rather than simply discussing financial data.

Accounting treatment or theory.

3. Economic orientation replaces book orientation: breaking through the traditional system and leading reading.

Enter a new field of financial analysis.

The following is the reposted content:

Calculation formula of financial analysis:

financial structure

(1) Asset-liability ratio = (total liabilities/total assets) × 100%

(2) the ratio of long-term funds to fixed assets = [(shareholders' equity+long-term liabilities)/fixed assets] × 100%

debt paying ability

(1) current ratio = (current assets/current liabilities) × 100%

(2) Quick ratio = [(current assets-inventory-prepayments)/current liabilities] × 100%

(3) Interest guarantee multiple = net profit before income tax and interest expense/current interest expense.

workload

(1) accounts receivable turnover rate = net sales/average accounts receivable balance

(2) Average cash collection days = 365/ accounts receivable turnover rate

(3) Inventory turnover rate = cost of goods sold/average inventory amount

(4) Average sales days = 365/ inventory turnover rate

(5) Turnover rate of fixed assets = net sales/average net fixed assets.

(6) Total assets turnover rate = net sales/average total assets

Income-generating capacity

(1) return on total assets = {[after-tax profit and loss+interest expense (1- tax rate)]/average total assets ]} × 100%.

(2) Return on shareholders' equity = (after-tax profit and loss/average net shareholders' equity) × 100%

(3) The ratio of operating profit to paid-in capital = (operating profit/paid-in capital) × 100%

(4) The ratio of pre-tax net profit to paid-in capital = (pre-tax net profit/paid-in capital) × 100%

(5) Net profit rate = (after-tax profit and loss/operating income) × 100%

reference data

/question/? qid= 1005032507363

The following is also a repost.

Financial planning helps to evaluate whether your business idea is profitable and can be financed. At this time, it is necessary to sort out and summarize the results of all the previous chapters. The expected value growth comes from the planned cash flow in the business, which is expressed through the asset discount force plan and also provides information for your various financing needs. In addition, the profitability of the enterprise can also be seen in the income statement. According to the commercial and tax laws, the income statement is essential.

Minimum requirements of financial planning in business plan:

Cash flow statement (asset discount force plan), income statement, balance of payments statement.

The forecast within three to five years (at least one year) after the break-even point, that is, after the point where positive cash flow begins to be generated.

Detailed financial planning for the first two years (monthly or quarterly), and then once a year.

All information should be based on reasonable assumptions (only the main assumptions need to be described in the plan)

Planned income statement:

The increase or decrease of the company's assets depends on the bottom line of the book at the end of the year, and the income statement can help you predict this. Contrary to the asset discount force planning (cash flow planning), the main topic of the income statement is whether the transaction will eventually lead to an increase or decrease in your company's net worth (defined as all assets MINUS debts).

Examine your entire business plan carefully and analyze whether your ideas will generate income and expenses, and if so, how much they can achieve. If you can't come up with the exact amount of expenses that your business will incur, quote others' or make a rough estimate. Don't forget to include your personal living expenses in the expenses. If it is a limited liability company, this refers to the salary of your general manager.

Include write-offs in investment and depreciation plans. The cost of the investment itself, that is, the purchase price of the investment, is not included in the income statement. Because this part of the expenditure will not lead to changes in the company's net worth.

Material cost includes all expenses, including supplying materials, auxiliary equipment, consuming materials and purchasing products and services. Your planned human resource costs, including wages and salaries, plus social security funds and taxes, are all included in the human resource costs.

For the sake of simplicity, the category of "other expenses" can be regarded as a comprehensive item, including rent, insurance, office equipment, postage, advertising, legal consultation and all other items. When distributing personal income and expenditure, we must strictly abide by the relevant provisions of the law.

Finally, calculate the difference between the total income and the total expenditure in a fiscal year, so as to get the annual net profit/loss. This will give you a general understanding of the business situation, but it cannot reliably evaluate your liquidity level. Therefore, you need to plan the liquidity of assets.

Sales of products or services can be recorded in the current fiscal year, although payment will not occur until the next fiscal year. You need to list the sales income, although the money is not deposited in your account. The same is true of expenditure. The income statement is usually planned in years. In the first year, in order to enhance its accuracy, you should make a monthly forecast. In the first year, each commission will be forecasted, and the annual forecast will continue in the third, fourth and fifth years.

Asset discount compulsory plan:

At any time, the company must have a certain amount of cash at its disposal to avoid cash flow difficulties and eventually go bankrupt, which means that your enterprise will go bankrupt because of financial problems. Detailed asset discount planning can ensure that you have a positive cash flow. The principle is simple: compare income and expenditure directly. Please note that issuing or receiving an invoice does not mean that money has been paid into your account or that you have paid it. The planning of asset discount power is related to the payment date of the money actually entering or leaving the account. Therefore, the mandatory asset discount plan only involves those transactions that will affect your cash reserves. Depreciation, debt and non-market output are not included.

List the amount and time of all payments you expect. A company is solvent when its total revenue is greater than its total expenditure. When planning can't cover all expenses, you must attract funds. The sum of these funds is equal to the total demand for funds during the planning period.

When you look to the future, there are more and more uncertainties in planning. Therefore, the asset discount force is planned once a month in the first year, once a year in the second year and once a year in the third, fourth and fifth years.

Forecast balance sheet:

What venture capitalists want to see is how your assets grow. This can be provided by forecasting the balance sheet. Here, the types and values of assets are placed on the asset side of the balance sheet, while the source of capital is placed on the liability side. Like the income statement, the law requires the balance sheet to have a standard accounting format. These should be in years.

Financial requirements:

Liquidity planning can determine your capital demand and when you need it, but it won't tell you how to meet it. The money borrowed from outside is generally divided into equity (investors have shares in the company) and loans. Choose the best combination for the company from all the financing channels you can get.

There is a proverb: "There is no such thing as a free lunch". So is money. Your family may not ask for financial help in return, but professional lenders will have strict requirements. The management team can only give a promise to the investors, so it is at a disadvantage in the negotiation. But if the company's business develops well, you can easily get financial support from investors, because professional investors value the excellent performance of the team. Fully understand your own needs and expectations, as well as the needs and expectations of investors.

If you are looking for long-term investment and don't plan to expand the company to a large scale, then we suggest you use family funds and loans provided by friends and banks. In this way, you will own most of the shares, but at the same time, your development will be greatly limited.

However, if you want the company to develop rapidly, you'd better seek venture capital. Venture capitalists usually want to get most of the shares in the company, and you may have to give up most of the shares. However, as long as you can achieve the goal you set, professional investors have no interest in managing the company even if they own most of the shares. After all, the purpose of their investment management team is to let the management team lead the company to success. They will actively use their management skills to help you and provide professional knowledge, such as legal or marketing expertise, relationships and networks.

Trading is usually very complicated. We suggest that you contact experienced entrepreneurs and listen to the opinions of trustees, tax consultants, lawyers and other experts. You can also compare the bids of different investors. Don't be intimidated by complicated procedures. These complicated procedures usually have legal reasons, such as tax relief, control of investment funds and so on. However, you must 100% know all the details of the transaction.

Calculate the return of investors:

Investors evaluate the success of an investment through the return on investment. So the expected return in the business plan should be clear at a glance. Take CITYSCAPE as an example. In the first three years, the total amount of funds invested by investors in the enterprise was 47 million Deutsche Mark (6.5438+0.7 million, 20 million and 6.5438+0 million respectively). Five years later, the company will be listed on the stock exchange, and the actual income will be about 48 million Deutsche Mark. How high is the rate of return in this case?

From the investor's point of view, all funds invested in a new company are negative cash flow at the beginning. The cash flow in the company's business balance will not be paid to shareholders immediately in the form of dividends, but will be used to consolidate the balance sheet. Cash will eventually be returned to investors. Because cash flow will exist after several years, it must be discounted, that is, calculated according to the present value (interest and compound interest). You can use the following formula to calculate the annual discount factor:

Discount factor = 1/ (1+r) T

In this formula, r = discount rate (percentage) and T = years since the beginning of cash flow. When calculating the return, you can use the internal rate of return (IRR). Internal rate of return is the discount rate when all positive cash flows and negative cash flows are discounted at present value and the result is zero. For example, the internal rate of return of urban landscape projects is 72%. It shows that the annual return on capital of investors is 72%. Considering the risks involved, this is a reasonable return.

Most computers and spreadsheets have special internal rate of return (IRR) functions, which can be used to calculate IRR (IRR function IRR(Excel). You can also calculate it yourself.

The evaluation of a company refers to calculating how much senior managers are willing to pay for its shares if the company goes public. This is an art, and a simple method based on experience is that its value is equal to six to eight times the cash flow or net profit (after tax) of the company in the year of initial public listing. Taking the city scenery as an example, the company's valuation is 48 million German marks by multiplying the net profit of the fifth year by 6 (7.93 million).