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Management and EconomicSimulation Exercise
企业经营决策实战模拟
第一讲 财务报告Oct 2008
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内容
• 公司财务报告 Company Report– 损益表 Income Statement– 资产负债表 Balance Sheet– 现金流表 Cash Flow
• 行业财务报告 Industry Report– MPI
•财务的重要性•财务报告讲解
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Finance Function• Why does Finance exist in a company?
– To ensure people have reliable information about the performance and financial position of the company, and managers have the right information to make decisions to improve the performance of the business.
• What Finance Does?– Manages the planning process and sets financial targets.– Provides regular analysis about the business’ performance against the
targets.– Provides insights to managers to guide the business in meeting
targets.– Provides information for shareholders on how we are using their
money and supporting reinvestment.– Ensures all taxation and statutory requirements are met.– Leads and educates the business in meeting standards of compliance
and integrity.– ……
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Finance Dept. Structures
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Finance works through the operation flow
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Financial Report
• How To Read A Financial Report
Wringing Vital Signs Out of the Numbers
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Basic Performance Measures
•Income Statement = “Book”损益表 : Covers period from front to back “cover”. (Sales, costs, profits…)Tells shareholders what we did with the money they gave us
•Balance Sheet =“Snapshot”资产负债表 : For the business at one point in time. (Assts. Liabilities, Equities…) Tells shareholders what their investment has turned into.
•Cash-flow = “Piggy Bank”现金流量表 : Reflects the Cash In/Out.Binds together what we did and how well we did it.
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PreviousDecisionsSummary 上期决策结果
ProductionSummary生产现状
OrdersSummary 订单情况
成本
Next period 下一期
损益表
资产负债表
现金流量表
Company Report
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Operations Report _ 1•Decisions —— Previous Decision Summary 上期决策结果
•Production Report —— Production Summary 生产现状示例 单位 备注
生产数量 Production 393 Units
生产能力 Factory Capacity 525 Units
生产负荷率 Capacity Utilization 75%=Production / Factory Capacity
生产负荷率在75%~85%时最经济单位生产成本 Production Cost/Unit 18.36 $
库存数量 Inventory 0 Units
员工数量 Employees 79 Workers 只和生产负荷率有关系
名称
示例 单位 备注销售价格 Price 30 $ EchoPen初始指导价为$30，价格上限$99
生产数量 Production 393 Units
市场投入 Marketing 1050 $ 能提高自己公司的产品以及同类产品的知名度，从而提高公司以至于全行业当期获得的订单数量，仅当期起作用
设备投资 Investment 1050 $ 除去折旧的费用后，剩下的钱从下期开始起作用，有延续性；每增加$40的设备投资可多生产一支EchoPen
研发投入 R&D 393 $ 当期开始起作用，以后各期有延续性，但效用递减
名称
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Operations Report _ 2
示例 单位 备注订货数量 Order Received 394 Units
销售数量 Sales Made 393 Units
未完成订货量 Unfilled Orders 1 Units =Order Received - Sales Made
销售单价 Price/Unit Sold 30 $
单位销售成本 Total Cost/Unit Sold 25.31 $ =Unit Production Cost + Unit Sales Cost
单位销售毛利润 Margin/Unit Sold 4.69 $ =Unit Price - Total Unit Cost
名称
示例 单位 备注本期企业规模 Factory Size 21000 $ =$40 * Factory Capacity
净投资 Net Investment 0 $ =Investment - Depreication
下期企业规模 Size Next Period 21000 $ Next Period Factory Size
名称
•Marketing Report —— Orders Summary 订单情况
•Inventory Report
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Income Statements• 损益表记录的是企业在一段时间内的财务业绩，反映企业在这段时期的赚钱能力，以及
这一时期中所创造的收入 - 所发生的所有费用 = 净收入 / 利润，不反映企业真实的现金状况
示例 单位备注销售额 Sales 11790 $ =Price * Sales Units
销货成本 COGS -7215 $ =Production Cost * Sales Units
毛利润 Gross Margin 4575 $ =Sales - COGS
市场投入 Marketing -1050 $
折旧 Depreciation -1050 $=Factory Size * 5%
企业生产设备使用寿命5年研发投入 R&D -393 $
裁员费 Layoff Charge 0 $=$10 * Each Employee
雇佣新员工是不需要付费的
库存费用 Inventory Charge 0 $=$1 * min(Current Inventory, Previous Inventory)
如果不希望付太多库存费用，就不要连续两期有太多的库存
贷款利息支出 Interest -238 $=Loans * [(Prime Rate + 1%)/4]
每个决策周期3个月税前利润 Profit Before Tax 1844 $
所得税 Tax -461 $ =Profit Before Tax * Tax Rate
税后净利润 Net Profit 1383 $
名称
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Balance Sheet• 资产负债表是一副静态图画，是报表编制那天公司财务构成的一张快照，资产负债是关
于一个公司财务构成的记录，表明公司拥有什么（资产），公司欠别人什么（负债），公司所拥有的减去公司所欠的（即净资产，通常也被称为权益），为公司的股东留下什么，反映的是最为基本的会计等式：资产 = 负债 + 净资产。不直接反映公司的财务业绩如何，也不反映它是否在某一时期中赚得足够的利润以承担其还债责任，并为公司股东增加了净资产。
示例 单位 备注现金 Cash 11879 $ =Ending Cash of Current Period
存货 Inventory 0 $
设备投资 Capital Investment 21000 $
资产总额 Total Assets 32879 $
贷款 Loans 8658 $ 贷款上限：$50,000
留存利润 Retained Earnings 1383 $ 各期累计Net Profit
资本 Capital 22838 $ 公司的资本一般不会变化负债+所有者权益Liabilities + Equity 32879 $
名称
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Cash Flow
• 现金流表揭示了企业在一定时期中所创造的现金数额，记录同一时期现金流入量 - 现金流出量 = 现金净额。现金额可用于债务偿付、设备投资、营销研发投入。
示例 单位备注期初资金 Beginning Cash 10496 $ =Ending Cash of Previous Period
净利润 Net Profit 1383 $
折旧 Depreciation 1050 $
设备投资 Capital Investment -1050 $
存货变动 Inventory Change 0 $
贷款净值 Net Loan 0 $
期末现金 Ending Cash 11879 $
名称
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MESE Company Report
损益表
Sales Made*Production Cost
$18.35×525
×5%×$1
Loans*((Interest Loans*((Interest Rate+1%)/4)Rate+1%)/4)
25%
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资产负债表
每期 Net Profit 的累计
Operational Cost:Production Cost+Marketing+R&D
$18.35*525+$1400+$525
MESE Company Report
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MESE Company Report
现金流量表
同 Depreciation
as been deducted in Income Statement, but it's not a real cash out. So plus back to reflect the real cash flow
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Industry Report
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MPI
• MESE 评判标准：获得企业长期竞争力 MPI– 50% retained earnings （留存利润）– 10% supply potential 供应能力 _ Factory Size
– 10% demand potential 需求潜力 _ Marketing and R&D
– 10% productivity 生产效率 _ Capacity Utilization
– 10% market share 市场占有率– 10% potential growth 增长潜力 _ COGS
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