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《營(yíng)運(yùn)能力比率分析【外文翻譯】》由會(huì)員上傳分享，免費(fèi)在線閱讀，更多相關(guān)內(nèi)容在學(xué)術(shù)論文-天天文庫。
1、外文翻譯原文OperatingCapacityRatioAnalysisMaterialSource:《FinancialManagementandAnalysis》Author:FrankJ.Fabozzi.PamelaP.PetersonUsingfinancialratioanalysisFinancialanalysisprovidesinformationconcerningafirm’soperatingperformanceandfinancialcondition.Thisinformationisusefultoanalysisinevaluating
2、afirm’soperationandtoaninvestorinevaluatingtheriskandpotentialreturnstoinvestinginafirm’ssecurities.ActivityratiosActivityratios—forthemostpart,turnoverratios—canbeusedtoevaluatethebenefitsproducedbyspecificassets,suchasinventoryoraccountsreceivableortoevaluatethebenefitsproducedbythetot
3、alityofthefirm’sassets.InventorymanagementTheinventoryturnoverratioindicateshowquicklyafirmhasusedinventorytogeneratethegoodsandservicesthataresold.Theinventoryturnoveristheratioofthecostofgoodssoldtoinventory:Inventoryturnoverratio=Costofgoodssold/InventoryAccountsreceivablemanagementIn
4、muchthesamewayweevaluatedinventoryturnover,wecanevaluateafirm’smanagementofitsaccountsreceivableanditscreditpolicy.Theaccountsreceivableturnoverratioisameasureofhoweffectivelyafirmisusingcreditextendedtocustomers.Thereasonforextendingcreditistoincreasesales.Thedownsidetoextendingcreditis
5、thepossibilityofdefault—customersnotpayingwhenpromised.Thebenefitobtainedfromextendingcreditisreferredtoasnetcreditsales—salesoncreditlessreturnsandrefunds.Accountsreceivableturnover=Netcreditsales/AccountsreceivableOverallassetmanagementTheinventoryandaccountsreceivableturnoverratiosref
6、lectthebenefitsobtainedfromtheuseofspecificassets(inventoryandaccountsreceivable.)Fora9moregeneralpictureoftheproductivityofthefirm,wecancomparethesalesduringaperiodwiththetotalassetsthatgeneratedthesesales.Onewayiswiththetotalassetturnoverratiowhichtellsushowmanytimesduringtheyeartheval
7、ueofafirm’stotalassetsisgeneratedinsales:Totalassetsturnover=Sales/TotalassetsAnalternativeistofocusonlyonfixedassets,thelong-term,tangibleassetsofthefirm.Thefixedassetturnoveristheratioofsalestofixedassets:Fixedassetturnoverratio=Sales/FixedassetsReceivablesManagementWhe
