杜邦财务分析体系外文文献翻译最新译文.docx

杜邦财务分析体系外文文献翻译最新译文.docx

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文献信息

标题：

TheresearchonDuPontfinancialanalysissystemandprofitabilityoflistedcompanies

作者：

McGowanJ

期干U:

AccountingandFinanceResearch

页码：

52-63,第1卷，第2期，2016年

原文

TheresearchonDuPontfinancialanalysissystemandprofitabilityoflisted

companies

McGowanJ

Abstract

Inorderforthecompany'slevelofprofitabilityforthecorrectassessmentoffinancialanalysis,havethecertainabilityisnecessary,amongthem,moreapplicabletolistingCorporationtoevaluatetheprofitabilityofDuPontfinancialanalysissystem.Financialanalysisisnotonlythehistoricalsituationandthepresentsituationanalysisofthecompanyalsocanrelyontheanalysisofthehistoricalsituationandthepresentsituationcarriesontheforecasttothecompany'sfutureprofitability,soastobeabletocorrectlyassessthecompany'slevelofprofitability.Thesuccessandfailureofacompanyhavegreatrelationshipwiththecompany'sfinanciallevel,whilethecompany'sfinanciallevelcanbereflectedbytheresultsofthefinancialanalysis.

KeyWords：

DuPontfinancialanalysisSystem;Profitability;ROE

1 Introduction

Nowthetrendofglobalizationisunstoppable,andthismakesthecompetitionbetweenenterprisesistorn,italsoincreasedthefinancialcrisisandthedegreeofoperatingrisk.Financialstatementsreflecttheenterprise'sfinancialpositionandoperatingresultsofaform,itisprovidedbytheaccountingentity.Enterprisepersonnelthroughfinancialstatementsreflecttherealsituation,usefinancialmethodsforseriousanalysis,accuratecalculation,gradualdecompositionandin-depthresearch,sothatyoucanknowthecomprehensiveabilityoftheenterprise,canknowhowcompaniescanaffordtopaytheamountofhowmuchpowertokeepnormaloperationofenterprisesandprofit.Enterpriseyieldstrengthisitsprofitability,andprofitabilityistherealreflectionofenterpriseoperatingperformancegoodorbad.Theprofitabilityoftherelationshipbetweentheenterprisemanagers,creditorsandtheinterestsoftheshareholders,sotheirattentiontoprofitisveryhigh,theyalwayspaidcloseattentiontothetrendoftheeconomy,andinatimelymannertomakeaccurateanalysisandforecastthefuturesituation.So,theenterprisemanagement'smaingoalistoimprovetheprofitabilityofenterprises.Becauseenterprise'sbusinessperformanceisdependontheprofitabilityofthecompanyrelatedindicatorsreflectthereal,thebusinessoperatorsthroughtheanalysisofprofitability,cantimelytocorrectsomeproblemsintheoperationandmanagementandmakereasonableplan.Weanalyzethefinancialstatementstherearesomanyways,comparisonanalysis,themainfinancialratiomethod,trendanalysisandfactoranalysismethod.Buttheeffectofthesemethodsislimited,soitcan'ttoenterprise'sfinancialpositionandoperatingresultsfullyreflected,canonlyreflectoneaspect.So,youneedacomprehensivefinancialindicatorsonthefinancialconditionofenterprisesareanintegralpartofthereport,atthesametimealsomustcombinevariousrelatedindicators,andthenusingacertainmethodtoenterprise'sfinancialpositionandoperatingresultstoconductacomprehensivein-depthresearch,andthespecificmethodiscomprehensiveanalysismethod.

2 Literaturereview

In1919,theUnitedStatesDuPont,PierreDuPont（PierreDuPont）andDonaldsonBrown（DonaldsonBrown）setouttheDuPontfinancialanalysisSystem（DuPontSystem）,theSystemisbasedonnetassetsyieldindex,inpartbypartofdecomposition,finallytorealizetheorganiccombinationoffinancialanalysisindicators.ReturnonequityindexisthecoreofDuPontfinancialanalysissystem,salesnetprofitmultipliedbythetotalassetsturnoverandtherightsandinterestsistheresultofthereturnonequity,withfromtoptobottomofkeyindexdecomposition,thecompany'sprofitability,operationability,debtpaymentsandotherfinancialassociationbetweenmoreclearly,itiswidelyusedintheactualassessment,butactuallyveryfewforeignscholarsstudiedit,letalonetoimproveitsmethods,toperfectitstheoryandpracticeandresearchonit,itisahandful.Palmer'sofficeatHarvardUniversityintheUnitedStates,andintheanalysisandevaluationforenterprises"putsforwardthesustainablegrowthrate,anduseitasadeformationofDuPontfinancialanalysissystemandcomplementary,buildthe"palmer'sfinancialanalysissystem".Thisprocessislayersofdecompositionprocessoffinancialindicators,thisanalysismethodisactuallyonemoreconsiderationfordividendpaymentrate,butthereisnobigeffect.AlexKaneisaprofessorattheuniversityofCalifornia,bodeisaprofessorattheuniversityofBoston,theyjointlyatBostoncollegeAlanj.Marcus（Alanj.Marcus）（2003）,aprofessorattheessenceoftheinvestmentofthebooksseriouslyanalyzedth