资产结构分析外文翻译资料

Asset structure analysis

Enterprises will raise funds to invest in various assets, it has become the asset structure of enterprises. Reasonable asset structure can improve the utilization efficiency of various assets, reduce the risk of enterprises, improve the income of enterprises, and create more wealth for shareholders. Therefore, it is necessary for enterprises to optimize their own asset structure in order to achieve the goal of maximizing shareholder wealth.

The asset structure of the enterprise is the result of the enterprise investment. The research on the asset structure can also provide the basic constraints for the future investment decision of the enterprise and improve the investment efficiency of the enterprise.

Assets refer to the resources formed by past transactions or events, owned or controlled by the enterprise, which are expected to bring economic benefits to the enterprise.

Asset structure is the proportional relationship between the components of assets and the result of enterprise investment activities. The commonly used indicators reflecting the structure of assets include the proportion of current assets, the proportion of fixed assets, the proportion of inventory, the proportion of intangible assets, and so on. Enterprises should invest funds reasonably in various assets in order to ensure the reasonable and efficient operation of various assets, bring more income and create higher value for enterprises.

Depending on the classification criteria, the assets of the enterprise can be classified as follows

First, according to the liquidity of assets, assets can be divided into current assets and non-current assets. Among them, current assets refer to assets that can be realized in a business cycle, including monetary funds, accounts receivable and inventory, etc., while non-current assets refer to assets that can be realized only after a business cycle, including foreign investment, fixed assets and intangible assets, etc.

Secondly, according to the different ways of contribution to profits, assets can be divided into operating assets and investment assets. Among them, operating assets mainly include monetary funds, commercial claims, inventory, fixed assets and intangible assets and other assets used in daily operations; while investment assets include not only 'long-term equity investment' and other investment assets, It also includes projects implied in other receivables to provide funds to subsidiaries, etc.

According to the two classification methods of assets, the asset structure of an enterprise can also be classified as follows: one is the liquidity structure of assets, which refers to the proportional relationship between the current assets and the non-current assets of the enterprise; the other is the asset structure. This paper will analyze the asset structure of enterprises according to the above classification. In addition, the specific asset items, including monetary funds, inventory, fixed assets and so on, are put into the asset nature structure for detailed analysis.

The principle of risk-return equilibrium refers to the symmetry of risk and income in the financial activities of enterprises, the low risk, the low return, the higher the risk, the higher the return, and the balance between risk and income. The principle of risk-return equilibrium runs through the whole financial activities of enterprises, and all financial activities of enterprises must consider the symmetry of income and risk. Specifically, if enterprises want to achieve high returns, they must face high risks; conversely, low returns under low risks. Any enterprise must weigh the risk and the income, and obtain the best combination of the risk and the income: the risk is the highest when the risk is fixed or the risk is kept low when the income is certain. Asset structure is the result of enterprise investment activities. It is necessary to consider risk and income to investigate whether the asset structure of an enterprise is reasonable. The following discusses the relationship between asset structure and risk and income.

The asset structure of the enterprise will affect the risk of the enterprise. Taking the asset liquidity structure of an enterprise as an example, if the proportion of current assets of an enterprise is higher, the risk faced by the enterprise will be smaller. Because among the assets of the enterprise, the liquidity of the current assets is the best, the turnover can be completed in a short period of time, the value can be realized, the normal operation of the enterprise can be effectively maintained, and the need of repayment can be met. On the other hand, if the proportion of current assets is low and the proportion of long-term assets is high, the liquidity of enterprise assets is weakened, the turnover efficiency of assets is reduced, and the debt service risk of enterprises will also increase.

The asset structure of the enterprise will also affect the income of the enterprise. A reasonable asset structure can improve the utilization efficiency of enterprise assets, meet the needs of enterprise production and operation, produce products that meet the market demand for enterprises in a limited time, and improve the profitability of enterprises. Create more income for shareholders. However, if the asset structure of the enterprise is unreasonable, then the assets of the enterprise can not be effectively coordinated, the efficiency of the use of the assets of the enterprise will also be reduced, and the income of the enterprise will decrease.

Modern portfolio theory is proposed by American economics professor Markowitz. The theory was originally designed to help investors to systematically measure investment risk and allocate funds reasonably to maximize returns when choosing stocks or bonds. Although this is a theory of stock or bond investment, it can still be used to optimize the ass

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