Analyze And Compare Financial Statements Of Agricultural Listed Companies

Agriculture is the basis of national economy, and agricultural development plays an essential role in China. Meanwhile, accelerating agricultural development cannot be carried out without company operation characterized by modern enterprise system in the socialist marketing economy system. Chinese listed companies are the group with good assets, advanced management structure and transparent financial regulations among all enterprises in China. Furthermore, agricultural listed companies, as the representative of the advanced agricultural productivity, play a significant role in industrializing agriculture, improving the quality of agricultural products and operating efficiency, adjusting agricultural industrial structure, improving international competitiveness of agriculture and accelerating agricultural modernization. With the booming of national and agricultural economy, more and more agricultural enterprises of all kinds are emerging. Until the end of 2008, 48 agricultural companies present in China's stock market.In this thesis, we study financial situation of agricultural industry of agricultural listed companies. Firstly, we select 14 composite indexes reflecting enterprise performance and analyze companies'financial statements from profitability, operating capacity, solvency and development capacity, based on the published statistics from 2006 to 2008 annual report. Secondly, we study financial situation of agricultural industry and the various sub-sectors of agriculture class. Finally, we explore the advantages and disadvantages of agricultural listed companies, identify financial problems, and propose the development of countermeasures and suggestions. In our study, we follow the regulation of CSRC and select 42 agricultural listed companies, and then divided them into four categories: the agriculture, the forestry, the animal husbandry and fishery, and food processing industry.This thesis with five chapters is organized as follows: Firstly, We introduce the research background, purpose and status in domestic and abroad in Chapter 1. Secondly, we review the development of agricultural listed companies, focusing on their characters, developing histories and regional distribution in Chapter 2. Thirdly, we introduce the theory of financial statement analysis, including their basic content and method in Chapter 3. Fourthly, we comparatively analyze the financial statements of agricultural public companies in Chapter 4. We analyze and assess key financial indicators of agricultural listed companies such as profitability, solvency, operating capacity, development capacity. Then, we comparatively analyze the financial conditions of each subsidiary industry among these companies. Finally, we point out the current financial problems and provide several suggestions in Chapter 5. We analyze the current financial problems and their causes, and propose suitable measures to enterprises financial management.By analyzing the financial condition in the years from 2006 to 2008, we obtain several problems of Chinese agricultural listed companies, such as small-scale assets, low net assets income rate, low short-term solvency, low operating capacity, low development capacity, significant decline and uneven development between the plates. Therefore, we proposed corresponding tactics of financial management as follows: 1) Actively developing core business, 2) Correctly handling the relationship between agricultural and non-agricultural businesses, 3) Improving financial risk management of agricultural listed companies, 4) Improving strategic awareness of capital structure management, 5) Accelerating personnel training and propelling the process of technology transformation...