in this semester, we started the financial management course, and at the end of the term, the school arranged for us to carry out financial management training. The following are some details of this training, as well as some of my experiences.
this training will be conducted at the end of the term, from June 17 to June 24, with ***11 class hours, lasting about one week. The purpose of this training is to further consolidate the operational skills knowledge of Financial Management that we have mastered in modular teaching, comprehensively test our comprehensive application skills of financial accounting, strengthen our hands-on ability and practical operation ability, and lay a good foundation for financial management in the future. This training requires us to study and evaluate the process and results of enterprise financial activities based on the financial statements and other accounting data of enterprises, so as to analyze the advantages and disadvantages, financial status and development trend of enterprises in the process of production and operation, and to provide important financial information for evaluating and improving financial management and making economic decisions in the future. The training content is divided into three parts: first, preliminary analysis, second, financial index analysis and third, comprehensive analysis.
the first step of training is formula calculation. According to the data information on the enterprise balance sheet and income statement, the structural ratio, growth amount and growth rate of each index are calculated through specific formulas. The technical content of this work is relatively low. The most important thing is to examine our understanding and application of the formula. As long as you are familiar with the formula, know how to use the formula, and then sit in the right place, there is almost no big problem. However, there are more data to be calculated, which makes it relatively cumbersome. After all, it is a formula calculation that is linked by one link, which requires the accountants to work carefully and rigorously. Because the training requires the written writing to be neat and standardized, and it is strictly forbidden to dig, alter and use correction fluid, I will do it on the draft first when I do it, and then fill in the training materials after it is confirmed. I usually belong to the category of serious study, so I finished this formula calculation in less than four class hours, and it progressed relatively smoothly. However, it is quite difficult to use the formula analysis in the second step.
The second step, formula analysis and evaluation, is the most critical, important and quintessential step in this training process, and it is also the main content and purpose of this training.
the first step is to make a preliminary analysis of the balance sheet and income statement. The balance sheet is generally divided into three parts: assets, liabilities and owners' equity, in which assets are divided into current assets and non-current assets, and liabilities are divided into current liabilities and non-current liabilities. Every big piece to every small piece, and then to every small piece of subdivision should be analyzed and summarized, which is not low and difficult for beginners. Perhaps the teacher has high expectations for us and hopes to lay a good foundation for us through high requirements, so he arranges large questions and analyzes them in detail.
I can understand and analyze the total assets structure analysis, current assets structure analysis, non-current assets structure analysis, and then subdivide the monetary fund analysis, accounts receivable analysis, bills receivable analysis, other accounts receivable analysis, inventory analysis, etc. through the guidance of teachers and discussions with my classmates, but I don't know how to summarize the detailed prepayments, raw materials, fixed assets and reconstruction projects. Later, I read a lot of relevant contents in textbooks, searched a lot of relevant information crazily on the Internet, and gradually understood many financial analysis problems through my own independent thinking according to the information, such as the analysis of prepayments. At first, I only understood the literal meaning of prepayments, which means that the prepayments paid by enterprises to suppliers according to the purchase contract are recorded according to the actual amount paid. Even if this account is increased or decreased, it will not have a great impact on the total assets, and it will not explain any problems. Later, by looking up the information, I suddenly realized that in fact, prepaid accounts also occupy a very important position. We can judge whether the enterprise has the possibility of fraud and whether the shareholders' reputation is good through prepaid accounts. General shareholders like to withdraw funds through prepaid accounts, that is, to occupy and transfer enterprise assets in the name of prepayment. If you analyze a company's financial statements, you find that its short-term solvency has reached the recognized standard, but it is unable to fulfill its debt repayment obligations. In this case, it is necessary to analyze its prepaid accounts to see the proportion of prepayments in current assets. If the proportion is too high, it may indicate that enterprise shareholders may withdraw funds and should deal with it immediately.
through the above example, when we analyze the financial statements, we should pay attention to understand not only the written meaning of each account, but also the practical application meaning of each account.
Another point is to be good at combined analysis, that is, when analyzing the balance sheet, we should combine the income statement. For example, when analyzing the accounts receivable, we should combine the sales revenue and the credit policy of the enterprise. How many current liabilities and how many long-term liabilities do you need to arrange when analyzing the debt structure? When the total liabilities of an enterprise are fixed, it must be judged by the quality of sales. If the sales of an enterprise grow steadily, it can provide a stable cash flow to repay the debts due. On the other hand, if the enterprise's sales are shrinking or fluctuating greatly, borrowing a lot of short-term debt will bear greater risks. Therefore, enterprises with stable sales growth can make more use of short-term liabilities, while enterprises with large fluctuations in sales should make less use of short-term liabilities.
the second step is the analysis of financial indicators, which is to judge the solvency, operational capacity and profitability of enterprises. This step is relatively easy to draw a conclusion, and it is generally clear by calculating the ratio of those indicators.
the third step of comprehensive analysis is similar to that of index analysis, but it is slightly more difficult and needs to be related to the financial situation and operating performance of the enterprise.
through this training, I learned how to comprehensively apply what I have learned, observe and analyze financial statements, and correctly and reasonably evaluate the financial status, asset management level, profitability and development trend of enterprises. At the same time, I also found my own shortcomings, such as the accounting knowledge is not solid, the practical application ability needs to be improved, and the social practice experience of accounting is insufficient. I should strive to improve in these aspects, improve my financial analysis ability, enhance the application of knowledge, strengthen teamwork, and move towards a professional and responsible accountant.