ZS公司财务诊断与管理优化研究

发布时间：2018-07-10 01:28

本文选题：财务诊断 + 财务管理优化　；参考：《广东工业大学》2017年硕士论文

【摘要】：财务诊断是准确反映企业经营状况和经营业绩、发掘企业在经营管理方面存在问题的分析方法,财务分析以财务管理优化为最终目的,是企业进行财务诊断工作的分析工具,是管理者进行有效财务管理的基础条件。目前,我国作为全球第三大医药市场,医药行业已经成为现代经济的重要组成部分,作为广东省医药行业中发展较快的公司,ZS面临公司研发投入与绩效匹配率较低、外延性扩张政策影响下偿债能力较弱、成本费用控制能力弱等问题。因此本文以ZS公司为例,分析其经营中的优势与不足,并提出财务管理优化建议。本文由七部分组成:第一部分为绪论,主要介绍研究背景及意义、国内外研究现状、研究内容及方法、研究思路;第二部分是相关概念及基本理论梳理;第三部分是ZS公司基本情况介绍;第四部分是对ZS公司进行诊断分析。首先通过PEST、波特五力模型、SWOT分析从宏观环境、行业现状、企业自身优劣三方面对企业进行战略诊断,其次从公司主要会计政策和估计的变动进行合理的会计诊断,再次立足偿债能力、盈利能力、营运能力、现金流量状况的横纵向比较,发现其经营管理中的不足,最后运用前景分析预测公司的发展趋势;第五部分是公司财务诊断的综合评价、存在问题及原因分析;第六部分财务管理优化建议;第七部分是结论与展望。本文以ZS公司2011—2015年年报为基础,通过哈佛分析框架进行财务诊断发现问题,运用杜邦分析法和连环替代法找出原因,诊断发现公司总体发展呈现积极进取的态势,制定较为合理的财务发展战略和管理制度,但个别指标由于近年公司并购、市场经济发展变缓等原因出现波动或是不良的发展情况;存货及应收账款周转率较低;产品的开发战略执行力差强人意,研发投入的转化率并没有大大提高公司的市场占有率;成本控制能力较弱;公司的并购使得短期偿债能力减弱,偿债风险增加。这需要公司制定财务战略优化设计、完善财务会计管理及披露、提升公司财务绩效与运营效率、做好研发及内外资源协同下的财务前景预测,综合四方面进行考虑,层层给出具体意见。本文通过概括总结、得出启示,找出ZS公司发展的方向,同时对其他医药企业的经营思路给予借鉴作用。
[Abstract]:Financial diagnosis is an analytical method to accurately reflect the operating status and performance of an enterprise, and to find out the problems existing in the management of an enterprise. The ultimate purpose of financial analysis is to optimize the financial management, which is an analytical tool for the financial diagnosis of an enterprise. Is the manager carries on the effective financial management the foundation condition. At present, as the third largest pharmaceutical market in the world, the pharmaceutical industry has become an important part of the modern economy. As a rapidly developing company in the pharmaceutical industry of Guangdong Province, ZS faces a low matching rate of R & D investment and performance. Under the influence of extraductive expansion policy, the ability to repay debt is weak, and the cost-cost control ability is weak. Therefore, this paper takes ZS Company as an example, analyzes its advantages and disadvantages, and puts forward some suggestions for optimizing financial management. This article consists of seven parts: the first part is the introduction, mainly introduces the research background and significance, the domestic and foreign research present situation, the research content and the method, the research thought, the second part is the related concept and the basic theory combing; The third part is the introduction of ZS Company, the fourth part is the diagnosis and analysis of ZS Company. First of all, through pest, Porter five-force model SWOT analysis from the macro environment, industry status, enterprise's own advantages and disadvantages of three aspects of strategic diagnosis, and then from the company's main accounting policies and estimates of changes in accounting diagnosis, Based on the horizontal and vertical comparison of solvency, profitability, operating capacity and cash flow, the paper finds out the shortcomings of its management, and forecasts the development trend of the company by using foreground analysis. The fifth part is the comprehensive evaluation of the company's financial diagnosis, the existing problems and cause analysis; the sixth part of the financial management optimization proposals; the seventh part is the conclusions and prospects. Based on the 2011-2015 annual report of ZS Company, this paper uses the Harvard Analysis Framework to diagnose and discover the financial problems, and finds out the reasons by using DuPont analysis and serial substitution method. The overall development of the company shows a positive and enterprising trend. To formulate a reasonable financial development strategy and management system, but individual indicators due to mergers and acquisitions in recent years, market economy development slowed down and other reasons such as fluctuations or bad development, inventory and accounts receivable turnover rate is low; The implementation of product development strategy is unsatisfactory, the conversion rate of R & D investment has not greatly increased the market share of the company; the cost control ability is weak; the merger and acquisition of the company makes the short-term solvency weakened and the debt repayment risk increased. This requires the company to formulate financial strategy optimization design, improve financial accounting management and disclosure, improve the financial performance and operational efficiency of the company, research and development and internal and external resources in coordination with the financial prospects forecast, comprehensive consideration of four aspects, Layer by layer gives concrete opinions. In this paper, the author summarizes the enlightenment, finds out the development direction of ZS company, and gives reference to the management of other pharmaceutical enterprises.
【学位授予单位】：广东工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.72

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