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本科毕业论文
某国有企业财务报表分析和企业价值
摘 要
财务报表作为企业财务状况和经营业绩的重要反映，成为上市公司定期公布的法定资料，随着资本市场的发展而日益受到人们的重视。通过财务报表的会计数据，可以初步了解企业的经营业绩，识别企业的优劣，预测企业的未来。也就是说，通过对企业财务报表所提供的会计数据的分析，可以评估企业价值，对企业的发展前景进行预测，从而做出合理决策，最终达到市场有效。
本文探讨了如何利用财务报表来揭示企业价值的问题，并结合了一个具体的案例进行了各项比率的分析。本文首先介绍了财务报表与企业价值的关系，结论是真实的财务报表能够反映企业的价值，从而使报表使用者可以利用财务报表进行决策。第二章是开始从财务报表分析和企业价值的理论解释以方便更好去理解这两者的概念，从而正确认识财务报表本身的局限性和非正常影响因素。第三章针对一个具体的公司进行了全面的财务报表分析对资产负债表、利润表和现金流量表进行综合分析，进而从整体上系统的对企业的过去和将来的经营状况给出明确的判断，帮助投资者及各需求方对企业的经济管理活动形成正确的认识。这个系统的动态过程就是财务报表分析。
当前，对财务报表分析的主要方法有比率分析法、比较分析法以及趋势分析法等，主要以比率分析法为基础，同时结合各种分析方法从企业的偿债能力、盈利能力、营运能力和发展能力等多个方面对企业的整体财务情况和经营成果做出评判;但是，鉴于财务报表本身所具有的局限性以及分析方法和分析指标的单一性，财务报表分析需要进一步完善和发展。
关键词 财务报表；财务报表分析；企业价值；中国钢铁行业
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Abstract
The financial statement is regarded as the important reflection of enterprise’s financial situation and business performance. It becomes the legal materials that the listed company announced regularly and more and more people pay attention to it with the development of the capital market．Through the accounting data of the financial statement，we can find out the business performance of enterprises，discern the quality of enterprises and we can prediet the future of enterprises. That is to say，through the analysis of the accounting data offered by enterprise’s financial statement，we can assess enterprise’s value and predict the development prospects of enterprises, so that we can make rational decision.
This text discusses how to make use of financial statement to estimate enterprise’s value and combination of a specific case to the ratio analysis. The paper first describes the relationship between financial statements and enterprise value，and come to the conclusion that the real financial statements reflect the value of the business, so that report users can take advantage of the financial statements to make decisions. The second chapter is started from the theory of financial statement analysis and corporate value to be interpreted in order to facilitate better understanding both the concept and, to a correct understanding of the limitations of financial statements and non-normal impact factors. The third chapter is aimed at a specific company for comprehensive financial statement analysis on the balance sheet，profit，and cashflow，and then the comprehensive analysis on the whole system of the enterprise of the past and future business conditions give clear judgment，help investors and the enterprise’s economic management of home-textile form the correct understanding. Activities this system dynamic process is financial statement analysis.
At present，the analysis methods commonly used ratio analysis，comparative analysis and trend analysis，mainly based on the ratio analysis，combined with a variety of analytical methods from the enterprise’s solvency，profitability，operating capabilities and development capacity，and several other aspects of the overall financial position and operating results to make evaluation；However，given the limitations of financial statements themselves and the analytical methods and analysis of indicators of unity，the
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financial analysis needs further refinement and development．
Keywords Financial statements; Financial statements analysis; Enterprise value; Chinese steel industry
某国有企业财务报表分析和企业价值
