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1、CHANGCHUNINSTITUTEOFTECHNOLOGY毕业设计(论文)外文资料翻译原文题目：Enterprisemergerandacquisitionanalysisoffinancialstatements中文题目：企业并购财务报表分析文献出处：《Themodernenterprisefinancialmanagement》「美」JamesC.VanHorne.学生姓名：崔忠楠学院名称：管理学院专业名称：财务管理班级名称：财务1041学号：1009426139指导教师：洪筠教师职称:教授学历：本科2014年6月
2、6日外文原文EnterprisemergerandacquisitionanalysisoffinancialstatementsCorporatemergersandacquisitionshavebecomeamajorformofcapitaloperation.Enterpriseuseofthismodeofoperationtoachievethecapitalcostoftheexternalexpansionofproductionandcapitalconcentrationtoobtainsynerg
3、ies,enhancingcompetitiveness,spreadbusinessplaysaveryimportantrole.M&Aprocessinvolvesalotoffinancialproblemsandsolvefinancialproblemsisthekeytosuccessfulmergersandacquisitions.Therefore,itappearsinmergeranalysisofthefinancialproblemstoimprovetheefficiencyofM&Fina
4、ncehasanimportantpracticalsignificance.Weneedtousefinancialratiosinanalyzingfinancialstatements.——Theanalysisofcomparativefinancialstatementscannotbemadereallyeffectiveunlessittakestheformofastudyofrelationshipsbetweenitemsinthestatements.Itisoflittlevalue,forexa
5、mple,toknowthat,onagivendate,theSmithCompanyhasacashbalanceof$1oooo.Butsupposeweknowthatthisbalanceisonly-IVpercentofallcurrentliabilitieswhereasayearagocashwas25percentofallcurrentliabilities.Sincethebankersforthecompanyusuallyrequireacashbalanceagainstbanklines
6、,usedorunused,of20percent,wecanseeatoncethatthefirm'scashconditionisexhibitingaquestionabletendency.Savingtransactioncosts.M&Amarketisessentiallyanalternativeorganizationtorealizetheinternalizationofexternaltransactions,asappropriateunderthetermsoftrade,businesso
7、rganizations,thecostmaybelowerthaninthemarketforthesametransactioncosts,therebyreducingproductionandoperationthetransactioncosts.Toreduceagencycosts.Whenthebusinessseparationofownershipandmanagement,becausetheinterestsofcorporatemanagementandbusinessownerswhichre
8、sultedininconsistenciesinagencycosts,includingallcontractcostswiththeagent,theagentmonitoringandcontrolcosts.Throughacquisitionsoragencycompetition,theincumben
