Studying the change of cash flow is a main content of modern financing . cash flow can directly reflect the ability of paying a debts , obtaining profits , and financial elasticity of business , which can be judged financial condition of business and predicted input and output cash flow business and predicted input and output cash flow in the future business 研究现金流量的变化是现代理财的一项重要内容，现金流量能直接反映企业的获利能力、偿债能力、财务弹性，进而判断企业的财务状况，并可预测企业未来的现金流入流出的情况。
This text from open the present condition of the exhibition engineering economic evaluation of the construction item to set out at home and abroad , to the engineering construction that this text mention investment item of the concept , scope carried on a define , the basic principle of basic characteristic , economic evaluation elaborated engineering construction an investment item , the classification discussed the time type , value type in the index sign system , ratio type an evaluation index sign in detail also , constucting investment item finance to evaluate to the engineering medium of the mathematics model in the estimate , finance of the foundation data evaluation , evaluate the accrual ability of index sign , item and liquidated ability and sensitivity to carry on analysis 经济评价的核心是考察分析工程建设投资项目的经济效益和社会效益。本文从国内外开展工程建设项目经济评价的现状出发,对本文所提及的工程建设投资项目的概念、范围进行了界定,阐述了工程建设投资项目的基本特性、经济评价的基本原则,分类并详细论述了指标体系中的时间型、价值型、比率型评价指标,对工程建设投资项目财务评价中的基础数据预测、财务评价中的数学模型、评价指标、项目的获利能力、清偿能力和敏感性进行了分析。
It are social that risk is mankind of safety that an objective , individual , group or business enterprise be engaged in any economy or the society all facing risk , pursue now and future is human the most basic wishes , and keep its buildup the ability that go forward , and combine to provide the product and service to customer ; the security company " s manpower and material resources and protect the company " s accrual ability , the need of the orientation market that make and variety , is an urgent demand that develop of business enterprise of high - tech extrovert type 风险是人类社会的一种客观存在，个人、团体或企业从事任何经济或社会都面临着风险，追求现在及未来的安全是人类最基本的愿望，保存其组织前进的能力，并对顾客提供产品与服务；保全公司的人力与物力以及保护公司的获利能力，使之适应市场的需求与变化，是高科技外向型企业发展的迫切需要。
At the part of empirical study , this paper chooses 124 a - stock listed companies from stock exchange of shanghai and shenzhen as research samples , makes use of the step method to filter the 13 possible variables ( including 3 debt - paying ability indexes , 3 operating ability indexes , 4 profitability indexes and 3 cash flow indexes ) in analysis and finally sets up discrimimant models by fisher discrimimant rules with the samples " financial data . then this paper validates the stability of these models using the self - validation and cross - validation before analyzing the prediction ability of these models with outside - validation 实证研究部分主要以我国深、沪两市124家上市公司为研究样本，采用上市公司1998年至2001年的实际财务数据，运用逐步判别分析方法对拟进入模型的13个变量（包括3个偿债能力指标、 3个经营能力指标、 4个获利能力指标及3个现金流量指标）进行筛选，并根据fisher判别准则建立判别模型，在运用自身验证法与交互式验证法对模型的稳定性加以验证后，运用外部数据验证法对模型的预测能力进行了分析。
Many companies annex inferior ones that are differ in industries and regions . these diversified companies always have several industries and geographies that are differ in characteristics , risks and earning powers . consolidated financial statement ignores some important information of diversified operations , making the users of financial information unaware of the profit - making ability , developing tendency and risk condition of different industry and geography 这些集团化公司往往横跨几个性质、风险、获利能力迥异的产业和市场，使以公司整体为表达基础的财务信息的有用性降低，不能揭示集团中处在不同产业、不同地区的各个分部的盈利水平、经济增长趋势和风险状况等有用信息，致使财务报告用户无法据以满足其有效决策的需求。
The results show : in 13 possible variables , operating fund ratio , stock turnover ratio , total assets turnover ratio , rate of return on total assets and rate of retained profit to total assets have an important influence on finance and the accurate rates of our models are 86 . 8 % for - 0 - year data and 79 . 82 % for - 1 - year data 结果表明： 13个变量指标中，反映资产流动性的营运资金比率，反映资产经营能力的存货周转率、总资产周转率以及反映企业获利能力的资产报酬率、累计盈余对于企业的财务有着重要的影响，其预测的准确性在0年达到86 . 8 ， 1年达到79 . 82 。
Though the stated owned banks take the monopoly position , the capacity of gaining profits and the merit are obviously lower than other stock banks and foreign banks . the small stock banks although have been established more latter , they have the strong capacity of gaining profits , and their efficiency is much higher than the state owned banks 国有商业银行尽管在国内银行业居于垄断地位，但其获利能力和经营绩效明显低于国内其它股份制银行和外资银行；股份制银行虽然成立较晚、规模较小，但具有较强的盈利能力，经营效率远高于国有商业银行。
Undoubtedly the solution of capital structure problem can benefit the business reform and enable the telecommunication business to make a greater profits in the market , even reach its maximum marketing value ( mv ) . this dissertation centers on the capital structural optimization of hunan telecommunication 毫无疑问解决好电信企业的资本结构优化问题，将有利于电信企业的改革，使企业增强获利能力，实现企业市场价值最大化的目标，在激烈的市场竞争中立于不败之地。
In the history of the accountant development , since the profit index is choose as a measure of performance , the reward for the manager is based on financial performance . profitability manipulation is one of the puzzle problems in the stock market ; it is not harm the benefits of the investors , but also influence the function of securities , which can maximization the resource . so this is the reason that many foreign governments and many scholars take special emphasis on profit manipulation 在会计发展史上，自从利润这一获利能力指标作为评价管理者业绩的指标后，利润操纵行为就一直是证券市场的难点之一，极大地危害了投资者的利益，影响了证券市场优化资源配置功能的发挥，因而各国政府、学者均将其作为研究的重点。
This part is the foundation of the whole paper ’ s theories . at first , it introduces various forms of the enterprise ' s value , puts forward the definition of the enterprise ’ s value , namely : enterprise ' s value is the market exchange value based on the enterprise ’ s inherent value , its essence is the earning capacity of the enterprises ; then it explains the characteristics , reasons and the theoretical foundation of enterprise ' s value evaluation ; finally , it reviews the common models of the value evaluation models 本章首先介绍了企业价值的不同形式,对企业价值进行了定位,即:企业价值是以企业的内在价值为基础的市场交换价值,其本质是企业未来的持续获利能力,在市场上则表现为公允市场价值;然后对企业价值评估的特点、动因及理论基础进行了阐述;最后,对企业价值评估的成本法、市场法、收益法以及期权估价法进行了分析与评价。
