杜邦财务分析与物流企业营改增研究外文文献翻译.docx
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杜邦财务分析与物流企业营改增研究外文文献翻译
文献出处:
BroomA.TheresearchonDuPontfinancialanalysisandVATinsteadbusinesstaxoflogisticsenterprise[J].InternationalJournalofEconomicsandFinance,2016,1
(2):
91-103.
原文
TheresearchonDuPontfinancialanalysisandVATinsteadbusinesstaxoflogisticsenterprise
BroomA
Abstract
Logisticsasacomprehensiveindustry,belongstoaboominthetertiaryindustryenterprises,referredtoas"thethirdprofitsource",istoexpanddomesticdemand,employment,andadjustmentofeconomicstructure,promoteindustrialstructureisanimportantdrivingforce.However,thetraditionalbusinesstaxduetotheunreasonabletaxbasis,andparallelallsortsofreasons,suchasVATtaxdoubletaxationcontradictionisveryprominent,toacertainextent,alsoaffectstheVAT"taxneutral".Atpresent,thestudyof“VATinsteadbusinesstax”becomesthefocusofexpertsandscholarstodiscuss.Changebutfrom"camp"pilot,logisticsenterprisesgenerallyreflecttheturnovertaxincreasesafterthe"battaliontoincrease",managementbenefitdeclinetrend,itisinconsistentwiththepurposeofthestructuraltaxcuts.Paststudyof"VATinsteadbusinesstax"standintheperspectiveofthewholelogisticsindustry,mainlyforasingleenterpriseisadetailedanalysisoftherelativelackofandinsufficient.Basedonthis,thisarticletakestheformofcaseanalysis,chosearepresentativelogisticsenterprises"camptoincreasetheinfluenceof"analysisandimprovementofDuPontfinancialanalysis.
Keywords:
VATinsteadbusinesstax;Logisticsenterprises;DuPontanalysismethod
1Introduction
Inrecentyears,countriesaroundtheworldtopromotenationaleconomicandsocialdevelopment,accordinglyadoptedsome"taxcuts"policy,buttheeffectisnotsignificant,eveninmanydevelopingcountriesappearthephenomenonoftheriseofthemacrotaxburden.Indiaasoneofthebiggestdevelopingcountry,facingthesametaxsystemstructureandthelevelofeconomicdevelopmentdoesnotadapt.Inordertopromotethehealthydevelopmentoftheeconomy,in2005-2005,andIndiahaveadoptedthecancellationofagriculturaltax,thetransformationofVATtype,theraisingoftheincometaxexemptionandtaxchangepaidVAT(hereinafterreferredtoasthe"battaliontoincrease").Intheprocessofeconomyrunningsmoothly,thisaseriesoftaxreformplayedanextremelyimportantrole.Butduetotheunreasonabletaxbasis,withVATinparallel,theIndianbusinesstaxproblemsandcontradictionisveryprominent.Businesstaxofdoubletaxationproblemsnotonlyhinderthespecializationofsocialdivisionoflabor,alsodestroyedtheVATdeductionchainand"taxneutral",therebycausinglosstotheefficiency.Logisticsasacomprehensiveindustry,belongstoaboominthetertiaryindustryenterprises,knownas"thethirdprofitsource",isourcountrytoexpanddomesticdemand,solvingtheemployment,thebackboneoftheadjustmentofeconomicstructure,promoteindustrialstructure.Logisticsisthecollectionoftransportation,storage,informationprocessing,circulationprocessing,distribution,consultingserviceisequaltooneoftheemerginginterdisciplinaryindustry,isabasicandstrategicindustry,supportingtheeconomicdevelopmentoftheeconomyismoreandmorebig,knownbymanyeconomistsastheacceleratorofeconomicdevelopment.Intoday's"Internet+logisticsindustry,logisticsindustrytheeconomicimpactofmoreandmorebig,hasgraduallybecomeapillarindustryoftheeconomyandtheimportantgrowthpoint.Atthesametime,thelogisticsindustrytoacceleratetheindustryconsolidation,adjusttheeconomicstructure,promotetheprofessionalcoordinationandincreaseproductivityandsoonalsoisofgreatsignificance.
2TheDuPontfinancialtheorysummary
DuPontAnalysissystem(DuPontAnalysis)istheresultof"DuPont"producedbytheUnitedStatesDuPont,byPierreDuPontandDonaldsonbrown,wasfoundedin1919anduse.DuPontanalysismethodwiththenetinterestrateoftherightsandinterestsasthecore,usingtheenterprisefinancialstatementsdataandrelatedmaterials,usingtheinternalrelationbetweentheindexestosystematicallyanalyzetheenterprise'sprofitability,debtpayingability,assetsoperationability,inanobjectiveandcomprehensiveevaluationofenterprise'sfinancialpositionandoperatingresults.Evaluationoflistedcompaniesoperatingperformancemethodaremany,commonVolvoscoringmethod,BPneuralnetworkevaluationmethod,thebalancedscorecardmethod,DuPontanalysissystem.Comparedwithotherfinancialanalysis,DuPontanalysismethodhasuniqueadvantages.Firstofall,paymoreattentiontotheintegrityoftheenterprisemanagementactivity,DuPontanalysistoevaluatevariousbasicindicatorsofenterprises,theorganiclink,fromtwodirectionsofglobalandlocaloperatingconditionsofevaluationofenterprises.Second,paymoreattentiontothecoordinationoftheenterprisebusinessactivities.Byusingthemethodofcombiningstaticanddynamicanalysisbetweenvariousindicatorsofchanges,wecangivequantitativeevaluationtotheoptimizationconditionoftheindexes.Finally,DuPontanalysismethodhasadistinctgradation,canfromtoptobottom,frombottomtotop,respectivelyfromtheoveralltolocalandfromlocaltothewholetwodirectionstocalculate,thedeductiveprocessofinductiveeconomicindicators,godeepintotheenterprisemanagementofalldetails.Butintheprocessofevaluationofoperatingperformanceoflistedcompanies,thetraditionalDuPontanalysissystemhasitsinevitableflaws.Ontheonehand,thetraditionalDuPontanalysismethodcan'tcoveralleconomicandtechnicalindicatorsoflistedcompanies,suchasearningspershare,netassetpershare,dividendpaymentrate,rightsandinterestsofminorityshareholders,etc.,ignoresthetimevalueandriskfactors,unabletomeettherequirementsoflistedcompaniesmaximizeshareholderfinancial.Ontheotherhand,thetraditionalDuPontfinancialanalysisofdatafromthebalancesheet,incomestatement,ignoringtheanalysisofcashflow
3ThemainproblemsthatTJGco.,LTDfacing
3.1Rateincreaseistoolarge,theinputoffsetshort-termshortage
Thetaxrateofthecompanyofasmalldecline,thankstothecompanyenjoyssome"camp"insteadofpreferentialpolicies.Atthesametime,thecompany'sinternationalfreightandpassengerservices,consultingservices,andinadditiontothewarehousingbusinesslogisticsauxiliarybusinessafterthe"battaliontoadd"implement"investigation".Ifitwerenotforthepreferentialpolicy,thecompany'sturnovertaxeswillincrease.Firstofall,thetaxrateincreasedtheoutputtaxofthecompanysettoohigh."VATinsteadbusinesstax",afterTJGsharesmanyofthebusinessarebeginningtochangepaidVAT,andhightaxratessetincreasedtheoutputtaxofthecompany,increasedthepressureofthecashflow.Inaddition,theinsufficientinputofdeductionshort-termincreasedtaxburdenofthecompany.TJGco.,LTDmainlyincludethehumancost,fuelcost,thecostofutilities,tollfee,paymentoffreight,repairandtransportvehicles,ships,loadingandunloadingmachineryandotherfixedassetsdepreciationexpense,includinghumansalary,stock,fixedassetsdepreciation,roadtollonlargeproportionintheoperatingcost,thispartofthecostisnottheinputoffset,andfuelcostscanbededucted,maintenancecosts,utilitiesandotherinputtaxcostandseverityshortage,andoftendifficulttoobtainspecialinvoices,intheshorttermwillincreasethecompany'sturnovertaxburden.Atthesametime,companiesinvesthugepercentageofportinfrastructureconstructionprojectandisnotinthescopeofVATdeduction,alsoledtotheinputdeductionprojectscaleandscopecanbenarrowed,increasethecompanyturnovertaxburden.
3.2invoicemanagementchaos,systemupdateslow
Invoicemanagementchaosincreasestheriskofthecompany'staxandthetaxburden.Invoicenotonlyisthefoundationoftheenterpriseaccountingsystem,butalsotheimportantbasisofcompanyincomededuction.Butinpractice,theinfluenceofthetraditionalbusinesstax"inertia",tothespecialinvoicesforvalue-addedtaxmanagementchaosisoneofthemosteasilyneglectedproblemsofinvoicemanagement.WrittensysteminTJGco.LTD.,mainlyincludethereimbursementsystem,thesubcontractandmultimodaltransportsystem,assets,equipmentprocurementsystem,andsoon,andthesesystemsareusuallydrawnupduringthecollectionofbusinesstax,afterthecamp"change"isnotnecessarytoupdateandrevision.Inthesubcontract,multimodaltransport,purchaseoffixedassetsandotherbusiness,therelevantpersonnelsincethereisnosystemofrigidconstraints,intheprocessoftradingactivitiesofthecontractororsaletaxqualifications,issuedtheinvoiceofauthenticityandrequirementsofimportanceisnotenough,inmanycasesevenunabletoobtainspecialinvoices,itreducesthecompany'staxdeductible.Financialpersonnel,moreover,becausethejobisbusy,lackofabilitytowaitforareason,sometimesalsocanappearnotwithintheprescribedtime,thestatusofthespecialinvoiceforcertificationanddeduction,thecompanytolosetheopportunityoftaxdeduction,anadditionalincreasethecompany'staxburden,whichcanleadtocompany'sinterests.
4Solutions
4.1Taxplanning
Changeinoverall"camp"bigbackground,tocarryoutpracticalandeffectivetaxplanning,reducethetaxburden,TJGco.LTDhasthemostdirectandmosteffectivewaytocontrolthefordsthetaxrisk.VATinsteadbusinesstax,manyofthecompany'sbusinessactivitiesinaccounting,taxtreatmentandoperationmode,majorch