五粮液集团财务报表分析

发布时间：2018-01-27 03:03

  本文关键词： 财务报表分析 盈利能力 五粮液集团　出处：《西南交通大学》2015年硕士论文　论文类型：学位论文

【摘要】：财务报表可以综合反映公司的财务状况、经营业绩和发展趋势,是投资者了解公司、决定投资行为的最全面、最翔实的第一手资料。运用一定的分析方法,对企业的基础数据,包括财务报表和相关资料进行加工提炼,比照相关参照标准,对企业的财务状况、经营成果和现金流量的变化趋势作出评价,分析其形成的原因,这样一个信息处理过程被称为财务报表分析。财务报表分析在会计信息使用者做出决策的过程中起了必不可少的作用。近年来,白酒行业内部开始出现调整,白酒固有的消费模式以及原来形成的市场结构随之发生了重大改变,这给整个白酒行业带来挑战。五粮液集团作为白酒行业的龙头企业,历经多年发展,自然也受到社会各界的关注。2013年,五粮液集团营业收入下降,利润降低,经营状况不佳,引起了社会较高关注。本文通过对五粮液集团财务报表,包括资产负债表、利润表和现金流量表的分析,同时结合各个要素,对其偿债能力、盈利能力、营运能力和成长能力做了一定的分析。最终得出这样的结论：五粮液集团虽然在2013年销售业绩出现下滑,但是其流动性资产充足,有着很强的偿债能力：利润率较高,经营活动产生的现金流量能够满足集团发展需要。加上集团已经开始加大固定资产的投入,开始着于进行改革。总体而言,五粮液集团还是很有发展潜质的。本论文主要分为五个部分：第一部分是本文的绪论部分,主要阐述了与本文的选题背景和本文课题的研究意义。第二部分引入了与财务报表分析相关的一些基本概念,涵盖了财务报表分析中最常用的几种分析方法,对其中几种方法进行了重点罗列。第三部分以五粮液集团的介绍为引入背景,结合横向和纵向不同截面,对其2010年-2014年的财务报表进行了具体分析。第四部分选取茅台集团作为比较对象,在偿债能力、盈利能力、营运能力以及成长能力等方面对二者进行比较分析,并根据数据指标做出评价。运用杜邦分析体系对二者的净资产收益率在对比年度发生变动的原因。第五部分是在综合前面部分数据分析的基础上,总结出五粮液集团在财务管理中可能存在的一些问题,并据此提出对策和建议,希望能够对集团的发展有所帮助,也能为其他企业提供借鉴。
[Abstract]:Financial statements can comprehensively reflect the financial situation, business performance and development trend of the company, is the most comprehensive and accurate first-hand information for investors to understand the company and determine the investment behavior. The basic data, including financial statements and related information, are processed and refined, and the changing trends of the financial situation, operating results and cash flow of the enterprises are evaluated according to the relevant reference standards. Analysis of the reasons for its formation, such a process of information processing is called financial statement analysis. Financial statement analysis plays an essential role in the decision-making process of accounting information users in recent years. Within the liquor industry began to adjust, liquor inherent consumption patterns and the original formation of the market structure has undergone significant changes. This brings challenges to the whole liquor industry. Wuliangye Group as a leading enterprise in liquor industry, after years of development, naturally also received attention from all walks of life. In 2013, Wuliangye Group business income declined. Lower profits and poor operating conditions have aroused high social concern. This paper analyzes the financial statements of Wuliangye Group, including the balance sheet, income statement and cash flow statement, at the same time combined with the various elements. To its solvency, profitability, operating capacity and growth capacity to do a certain amount of analysis. Finally come to this conclusion: Wuliangye Group although in 2013 sales performance declined. But its liquid assets are sufficient, have very strong solvency: the profit margin is high, the cash flow generated by the business activities can meet the development needs of the group. In addition, the group has begun to increase investment in fixed assets. In general, Wuliangye Group is still very potential for development. This paper is mainly divided into five parts: the first part is the introduction of this article. The second part introduces some basic concepts related to the analysis of financial statements, including some of the most commonly used analysis methods in the analysis of financial statements. The third part takes the introduction of Wuliangye Group as the introduction background, combining horizontal and vertical different sections. The financial statements from 2010 to 2014 are analyzed in detail. Part 4th selects Maotai Group as the comparative object, in the solvency, profitability. The operational capacity and growth capacity of the two aspects of comparative analysis. And according to the data indicators to make an evaluation. The use of DuPont analysis system to compare the reasons for the annual change in the return on net assets. 5th part is based on the analysis of the previous part of the data. This paper summarizes some possible problems in the financial management of Wuliangye Group, and puts forward some countermeasures and suggestions accordingly, hoping to be helpful to the development of the Group and providing reference for other enterprises.
【学位授予单位】：西南交通大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F426.82;F406.7
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本文编号：1467381