财务管理2

1资产现金5000应收帐款50000存货100000厂房和设备200000合计400000负债和所有者权益应付票据和应付帐款100000长期负债100000普通股100000留存收益100000合计400000该公司2006年实现收入1000000元全部为赊销销售成本为900000元是计算下列财务比率1资产负债率2流动比率3速动比率4存货周转率5应收帐款收现期6销售毛利率httpzhidaobaiducomsearchword资产负债率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword负债总额ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword资产总额ampfrqbsearchexpampieutf8资产负债率负债总额资产总额20000040000050httpzhidaobaiducomsearchword流动比率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword流动资产ampfrqbsearchexpampieutf8流动比率流动资产流动负债2000001000002httpzhidaobaiducomsearchword速动比率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword流动资产ampfrqbsearchexpampieutf8速动比率流动资产存货流动负债1000001000001httpzhidaobaiducomsearchword存货周转率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword营业成本ampfrqbsearchexpampieutf8存货周转率营业成本存货平均余额9000001000009次httpzhidaobaiducomsearchword应收帐款周转率ampfrqbsearchexpampieutf8应收帐款周转率赊销应收帐款平均余额10000005000020次应收帐款收现期3602018天httpzhidaobaiducomsearchword销售毛利率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword营业收入ampfrqbsearchexpampieutf8销售毛利率毛利额营业收入100000100000010现金比率现金及现金等价物有价证券流动负债2已知某公司2004年会计报表的有关资料如下资产负债表项目年初数年末数资产800010000负债45006000所有者权益35004000利润表项目上年数本年数主营业务收入净额略20000净利润略500要求计算杜邦财务分析的下列指标并用文字列出净资产收益率与下述各指标的关系式用本题数据加以验证净资产收益率总资产报酬率保留3位小数销售净利率总资产周转率保留3位小数权益乘数httpzhidaobaiducomsearchword净资产收益率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword股东权益收益率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword净利润ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword平均股东权益ampfrqbsearchexpampieutf8净资产收益率又称股东权益收益率是净利润与平均股东权益的百分比是公司税后利润除httpzhidaobaiducomsearchword净资产ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword股东权益ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword自有资本ampfrqbsearchexpampieutf8以净资产得到的百分比率该指标反映股东权益的收益水平用以衡量公司运用自有资本的效率指标值越高说明投资带来的收益越高httpzhidaobaiducomsearchword净资产收益率ampfrqbsearchexpampieutf8净资产收益率50040000125125httpzhidaobaiducomsearchword总资产报酬率ampfrqbsearchexpampieutf8总资产报酬率是指企业一定时期内获得的报酬总额与资产平均总额的比率是评价企业httpzhidaobaiducomsearchword资产运营ampfrqbsearchexpampieutf8资产运营效益的重要指标httpzhidaobaiducomsearchword总资产报酬率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword利润总额ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword利息支出ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword平均资产总额ampfrqbsearchexpampieutf8总资产报酬率利润总额利息支出平均资产总额X100httpzhidaobaiducomsearchword利息支出ampfrqbsearchexpampieutf8500所得税利息支出80001000021005556httpzhidaobaiducomsearchword利息支出ampfrqbsearchexpampieutf8题目中末提供所得税和利息支出这两项按0算了httpzhidaobaiducomsearchword销售净利率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword销售净利润率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword净利润ampfrqbsearchexpampieutf8销售净利率又称销售净利润率是净利润占销售收入的百分比httpzhidaobaiducomsearchword销售净利率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword净利润ampfrqbsearchexpampieutf8销售净利率净利润销售收入1005002000010025httpzhidaobaiducomsearchword总资产周转率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword平均资产总额ampfrqbsearchexpampieutf8总资产周转率是指企业在一定时期业务收入净额同平均资产总额的比率httpzhidaobaiducomsearchword总资产周转率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword营业收入ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword平均资产总额ampfrqbsearchexpampieutf8总资产周转率次营业收入净额平均资产总额2000080001000021002222222222次httpzhidaobaiducomsearchword权益乘数ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword股本ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword资产总额ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword股东权益ampfrqbsearchexpampieutf8权益乘数又称股本乘数是指资产总额相当于股东权益的倍数表示企业的负债程度httpzhidaobaiducomsearchword权益乘数ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword企业负债ampfrqbsearchexpampieutf8权益乘数越大企业负债程度越高httpzhidaobaiducomsearchword权益乘数ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword资产总额ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword股东权益总额ampfrqbsearchexpampieutf8权益乘数资产总额股东权益总额10000400025httpzhidaobaiducomsearchword财务分析ampfrqbsearchexpampieutf8杜邦财务分析的关系式及验证结果httpzhidaobaiducomsearchword净资产收益率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword总资产净利率ampfrqbsearchexpampieutf8净资产收益率总资产净利率权益乘数5556251389httpzhidaobaiducomsearchword资产收益率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword利润率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword资产周转率ampfrqbsearchexpampieutf8净资产收益率利润率利润销售收入资产周转率销售收入资产权益乘数httpzhidaobaiducomsearchword利润率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword资产周转率ampfrqbsearchexpampieutf8资产权益利润率资产周转率权益乘数25222222251389某建筑施工企业进行一项股票投资需要投入资金元该股票准备持有年每年可获得现金股利元根据调查分析该股票的系数为目前市场上国库券的利率为股票市场上的股票市场风险报酬为要求计算该股票的预期收益率该股票年后市价大于多少时现在才值得购买httpzhidaobaiducomsearchword预期收益率ampfrqbsearchexpampieutf8预期收益率641512设该股票5年后市价为X元要使该股票现在值得购买则10000PA125XPS125200000成立所以X20000010000360480567428895312元4某企业用15500元购入一台小型设备该设备预计残值为500元可使用3年折旧按直线法计算设备投产后预计每年新增净利润分别为4200元0元3600元企业适用的所得税率为40如果该企业要求的最低报酬率为10并假设该企业经营无其他变化要求计算该项目的净现值并判断其是否可行利率为10期数为1年2年3年的复利现值系数分别为090908260751每年折旧额1550050035000元第一年税后利润2000010000400050001402000010006020600元第二年税后利润20000200001200050001402000030006021800元第三年税后利润2000015000500050001402000050006023000元httpzhidaobaiducomsearchword现金流量ampfrqbsearchexpampieutf82第一年税后现金流量206002000050005600元httpzhidaobaiducomsearchword现金流量ampfrqbsearchexpampieutf8第二年税后现金流量218002000050006800元httpzhidaobaiducomsearchword现金流量ampfrqbsearchexpampieutf8第三年税后现金流量230002000050005008500元httpzhidaobaiducomsearchword净现值ampfrqbsearchexpampieutf8净现值56000909680008268500075115500509045616863835155001709071550015907元0故可行某企业年流动资产为万元年初存货为万元年初应收账款为万元年年末的有关资料为流动负债万元流动比率速动比率现金比率全年应收账款周转率为次全年销售成本万元销售收入中赊销收入所占的比重为假定该企业流动资产仅包括速动比率与存货要求计算该企业年末流动资产年末存货和年末应收账款计算该企业流动资产周转率和存货周转率1年末流动资产年末流动负债流动比率7022154万元年末速动资产年末流动负债速动比率701284万元年末存货年末流动资产年末速动资产1548470万元年末应收账款年末速动资产年末货币资金844242万元2营业收入应收账款周转率平均应收账款1238422480万元流动资产周转率营业收入平均流动资产额48012084247059存货周转率营业成本平均存货156607021566524某建筑施工企业你购置一台设备购入价元预计可使用年净残值为元假设资金成本为投入使用后每年可增加利润元要求用年数总和法计算该项设备的各年折旧额列式计算该投资方案的净现值列式计算该投资方案的现值指数1折旧第一年200000800051540000第二年200000800041532000第三年200000800031524000第四年200000800021516000第五年20000080001158000httpzhidaobaiducomsearchword净现值ampfrqbsearchexpampieutf82净现值50000PA1058000PF11020000019450671200000549329httpzhidaobaiducomsearchword现值指数ampfrqbsearchexpampieutf83现值指数19450671200000097所以这个项目不值得投资7已知ABC公司与库存有关的信息如下1年需求数量为30000单位假设每年360天2购买价每单位100元3库存储存成本是商品买价的304订货成本每次60元5公司希望的安全储备量为750单位6订货数量只能按100的倍数四舍五入确定7订货至到货的时间为15天要求1最优经济订货量为多少2存货水平为多少时应补充订货3存货平均占用多少资金答案1经济订货量30000360346由于订货数量只能是100的倍数所以经济订货量300单位2再订货点平均日需求订货天数安全储备量300003601575012507502000单位3占用资金单价安全储备量单价3002100750100150007500090000元8某公司目前发行在外普通股100万股每股1元已发行10利率的债券400万元该公司打算为一个新投资项目融资500万元新项目投产后每年息税前利润增加到200万元现有两个方案可供选择按12的利率发行债券方案1按每股20元发行新股方案2适用所得税税率40要求1计算两个方案的每股盈余2计算两个方案的每股盈余无差别点息税前利润3计算两个方案的财务杠杆系数4判断哪个方案更好httpzhidaobaiducomsearchword每股盈余ampfrqbsearchexpampieutf81方案1发行债券每股盈余2004001050012125100075元股httpzhidaobaiducomsearchword每股盈余ampfrqbsearchexpampieutf8方案2发行股票每股盈余2004001012510050020096元股2EBIT4060140100EBIT40140125EBIT340万元httpzhidaobaiducomsearchword财务杠杆系数ampfrqbsearchexpampieutf83方案1财务杠杆系数20020040602httpzhidaobaiducomsearchword财务杠杆系数ampfrqbsearchexpampieutf8方案2财务杠杆系数20020040125httpzhidaobaiducomsearchword每股收益ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword财务杠杆系数ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword收益性ampfrqbsearchexpampieutf84由于方案2每股收益大于方案1且其财务杠杆系数125小于方案12即方案2收益httpzhidaobaiducomsearchword收益性ampfrqbsearchexpampieutf8性高且风险低所以方案2优于方案1某企业准备以500万元投资建立一个笔厂根据市场预测预计每年可获收益和概率资料如下市场情况收益概率繁荣12002一般10005较差6003若制笔行业风险价值系数为6计划年度利率为8试通过计算说明该投资方案是否可行期望收益E1200210005600392万元httpzhidaobaiducomsearchword标准离差ampfrqbsearchexpampieutf8标准离差2227httpzhidaobaiducomsearchword标准离差率ampfrqbsearchexpampieutf8标准离差率V2227921002421httpzhidaobaiducomsearchword风险价值ampfrqbsearchexpampieutf8风险价值率62421145httpzhidaobaiducomsearchword投资收益率ampfrqbsearchexpampieutf8预计投资收益率92500100184httpzhidaobaiducomsearchword风险收益率ampfrqbsearchexpampieutf8预计风险收益率1848104httpzhidaobaiducomsearchword风险价值ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword风险价值ampfrqbsearchexpampieutf8预计风险价值率104应得风险价值率145httpzhidaobaiducomsearchword投资项目ampfrqbsearchexpampieutf8该投资项目可行简述现值指数法与内部报酬率法的异同区别现值指数法需要一个适合实际的贴现率以便将现金流量折为现值贴现率的高低将会影响方案的优先次序其原因是较高的折现率对于远期的现金流量的影响大计算内含报酬率时不必事先选择贴现率根据内含报酬率就可以排定独立投资的优先次序只是最后需要一个切合实际的资金成本或最低报酬率来判断方案是否可行相同内含报酬率和现值指数都是相对数即相对比率净现值是绝对数在评价方案时要注意到比率高的方案绝对数不一定大反之也一样如果两个方案是互相排斥的要使用净现值指标选择净现值大的方案如果两个指标是相互独立的应使用内含报酬率指标优先安排内含报酬率较高的方案各种投资决策方法的优缺点什么是目标成本管理目标成本管理包括哪些内容建筑施工企业应怎样开展目标成本管理简述工程财务信息化的主要内容有哪些论述杜邦分析在企业综合财务分析中的作用在建筑施工企业开展功能成本分析有何现实意义如何开展功能成本分析项目投资决策使用的贴现法和非贴现法各包括哪些httpzhidaobaiducomsearchword投资决策ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword贴现法ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword投资决策分析ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword货币时间价值ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword分析方法ampfrqbsearchexpampieutf8投资决策的贴现法指的是在进行投资决策分析时运用考虑货币时间价值指标一种分析方法httpzhidaobaiducomsearchword贴现ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword净现值ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword现值指数ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword内含报酬率ampfrqbsearchexpampieutf8贴现指标包括净现值现值指数内含报酬率等httpzhidaobaiducomsearchword净现值ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword净现值ampfrqbsearchexpampieutf8净现值是指特定方案未来现金流入的现值余未来现金流出的现值之间的差额净现值大于0该项目可行httpzhidaobaiducomsearchword现值指数ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword获利指数ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword折现ampfrqbsearchexpampieutf8现值指数是未来现金流入现值与现金流出现值的比率也称现值比率获利指数折现后收益httpzhidaobaiducomsearchword现值指数ampfrqbsearchexpampieutf8成本比率等现值指数大于1该项目可行httpzhidaobaiducomsearchword内含报酬率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword现金流入量ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword现金流出量ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword折现率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword投资方案ampfrqbsearchexpampieutf8内含报酬率是指能够使未来现金流入量现值等于未来现金流出量现值的折现率或者说是使投资方案净httpzhidaobaiducomsearchword折现率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword内含报酬率ampfrqbsearchexpampieutf8httpzhidaobaiducomsearchword资本成本ampfrqbsearchexpampieutf8现值等于0的折现率内含报酬率大于资本成本该方案可行建筑施工企业利润的构成内容包括哪些工程信息化财务软件的特点有哪些9杜邦财务分析的核心指标是什么为什么杜邦分析的程序有哪些10解释EBITEPS无差异点11简述资本资产定价模型的基本含义和作用12投资分析中为什么要使用现金流量分析