| [Member (365WT)]answers [Chinese ] | Time :2018-08-27 | The comprehensive analysis of financial ratios—including the Woer weight scale method and the DuPont analysis method—is based on quantitative analysis methods based on qualitative.
Qualitative--related description in word language
Quantitative--described in mathematical language
Qualitative analysis and quantitative analysis should be unified and complementary; qualitative analysis is the basic premise of quantitative analysis. Unqualified quantitative is a blind and worthless quantitative; quantitative analysis makes it more scientific and accurate. It can lead to qualitative and analytical conclusions. Quantitative analysis is a method based on statistical data, establishing a mathematical model, and using mathematical models to calculate the indicators and their values. Qualitative analysis is a method based on the intuition and experience of the analyst, based on the past and present continuation of the analysis object and the latest information, to judge the nature, characteristics and development of the object of analysis.
It must be pointed out that although the requirements of the two analytical methods for mathematics knowledge are high or low, it is not possible to completely separate the qualitative analysis from the quantitative analysis. In fact, modern qualitative analysis methods must also use mathematical tools for calculation, while quantitative analysis must be based on qualitative predictions. The two complement each other. Qualitative is the basis of quantification. Quantitative is qualitative and concrete. The two are combined and used flexibly. In order to get the best results.
Different analysis methods have different characteristics and performances, but all have one thing in common, that is, they generally analyze and explain problems by comparing them. It is through the comparison of various indicators or the comparison of the same indicators in different periods to reflect the quantity, the quality of the quality, the efficiency, the consumption, the speed of development, etc. Provide well-founded information.
★ The so-called comprehensive financial analysis is to integrate the analysis of business operation capability, solvency and profitability into an organic analysis system, and comprehensively analyze and analyze the financial status and operation status of the enterprise, thus making economic benefits to the enterprise. Make more accurate evaluations and judgments.
It is generally believed that there are two main methods of financial comprehensive analysis: DuPont Financial Analysis System and Wal-Meng Grading (except for the two main ones, and the formula analysis method and the factor analysis chain replacement method).
(1) The DuPont analysis method has become the DuPont system (The Du Pont System). It is actually a method of decomposing the financial ratio. It reveals the structure of the various indicators of the enterprise through top-down analysis and layer-by-layer decomposition of indicators. Relationships, identify the influencing factors of the main indicators. From the evaluation of the most comprehensive and representative indicators of corporate performance - equity net interest rate, the breakdown of the use of the most basic production factors, the composition of cost and the enterprise Risk, so as to meet the needs of the operator to conduct performance evaluation through financial analysis, and identify and correct the cause in time when the business target changes..From a structural point of view, the DuPont analysis method is to link the relevant financial ratios and financial indicators in the form of a systematic analysis chart..
The reason why DuPont analysis chooses the ROE as the main analytical indicator is that it is the most relevant indicator of the financial management objectives of the enterprise, and is the core of the analysis of the indicator system (“the most relevant” and the judgment is “core”. "For qualitative analysis, which is the basis of quantitative analysis," it is determined by the company's net sales rate, total asset turnover, and equity multiplier (involving specific indicators and values for quantitative analysis).
(2) The Volkswagen Grading Method refers to combining the selected financial ratios with linear relationships and giving their respective scores, and then comparing with the standard ratios to determine the scores of the indicators and the total indicators. A method of evaluating the credit level of a company.
The basic steps of the Volvo weight scoring method include: (1) selecting representative financial indicators; 2) determining the standard value and standard score value of each financial indicator; (3) calculating the comprehensive score; (4) making a comprehensive evaluation. Among the indicators that select representative indicators, the questions to be noted are: the type of selection indicators should be comprehensive, and should not be concentrated on only one type of indicators; it is best to choose indicators with high values to indicate good financial status; Such as the average age of employees, etc..The standard scores must also be determined according to the degree of importance. The more important the indicators, the more points, and vice versa, but the total scores of the left and right indicators should be equal to 100. (In the above explanation, the selection indicators should have “representative” and “full”. "Good status" and "non-financial aspects" are qualitative vocabulary. As for "representation", "comprehensive", "good condition" and "non-financial aspects", it should be defined according to actual conditions and needs. Is a quantitative category, and the value of the indicator itself is a quantitative representation).In addition, it should be noted that this analysis method has clear steps as described above, and the above four steps are also quantities. For example, if the comprehensive evaluation of the last step is missing (the amount is reduced), then the analysis method is also incomplete. The non-meaningful Wal-Mart scoring method is therefore a quantitative analysis method based on qualitative..
Finally, it should be made clear that we cannot say that any method under the comprehensive analysis method is completely quantitative or qualitative, because these methods need to be based on qualitative and cannot be deviated from qualitative, and these methods will eventually be quantified. To calculate and prove. |
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