资源描述:
《毕业论文外文翻译企业并购财务报表分析解析毕业论文.doc》由会员上传分享,免费在线阅读,更多相关内容在行业资料-天天文库。
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