毕设附件外文文献原文及译文
文献出处作者：
Frade
期刊：Handbook of Research on Enterprise S ystems, 2016年，第5卷，第3期，页码：96-113.
译文
中小企业纳税筹划与财务绩效研究作者：弗雷
德
1 引言税收的概念一直是全球关注的话题，因为它会影响每一个国家的经济。在当前的非洲, 税像人类一样古老，可以被描述为一个数量,努力,以实物贡献或服务呈现(羊、牛、农产品，清扫的草地等)或货币价值贡献到一个共同的社会运行中。根据奥墨托(2001 )的观点, 其将现代税收的定义描述为公共机关强制收取的政府法令规定的个人或公司的收入,规定的行为或情况下，法律不考虑服务呈现的确切数量是否能作为对付款人的回报。因此,税收是政府财政收入的主要来源，任何政府的美妙之处在于其公民自愿执行他们的税收义务而没有胁迫和骚扰。
逃税和财政腐败已经成为整个历史上普遍和持久性的问题，它会带来严重的经济后果,不仅是在转型经济时代,在国家税收制度发展时代也是如此(瑞兹,2011 )。一般来说,逃税和贪污腐败对经济增长的影响具有两面性:逃税能增加企业家所积累的资源数量,但同时也降低了政府提供的公共服务数量,从而对经济增长带来负面影响(罗伊和艾拉,2011 )。以往的研究强调关于有效税率下降的报告和比例上升的公司根本没有纳税义务。迄今为止, 许多文献中保持架设是激进的税收行为,而不是经济趋势,这是下降背后的驱动因素(德赛和帕拉，2009 )。
肯尼亚税务总局(K.R.A)是肯尼亚的税收征管机构。1995年7月1日成立，代表肯尼亚政府加强税收征管。它收集大量的税收和关税,包括:增值税、所得税和关税。肯尼亚税务总局在成立之初,收取税款急剧增加,使政府为其公民提供急需的免费初等教育和健康服务等。超过90%的年度国家预算资金来自肯尼亚税务总
局在当地的税收。
然而，重要的是确定不断增加的的税收收入效应是否使得肯尼亚税务总局形成激进的税收管理,在某种程度上，应当归因于增加使用新经济商业模式。这是很重要的, 因为避税的来源有不同的政策影响。避税的政策回应主要是由激进的税收计划和投资纳税筹划引起，由于许多公司组织的转变、运营和融资属性不同而不同,这能使他们自然地利用他们的操作灵活性,结合税收激励产生税收节约额(德鲁克，2006年)。
有效税率的下降趋势可能不完全是因为激进的税收管理,公司改变他们的商业模式带来的经济趋势可能会使他们减少税收负担没有额外的投资纳税筹划(布莱茵和拉克尔，2011)。
2 中小企业的绩效不同的方法用于绩效评价的研究途径,
包括时间框架法, 平衡计分卡,系统方
法和无效率的方法(珍-弗朗索，2004 )。在利益相关者方法中, 关注的中心是以满足利益相关者的需求和期望的业务的能力(达福特,1995)。竞值途径扩展了其他方法的范围。
通过使用竞值途径,其他四个模型被开发：合理目标;内部过程,开放系统和人际关系(奎因和罗哈博夫,1983)。通过关注问题和阻碍因素可以评估组织的绩效,抑制组织效能(卡马龙,1984)。上述方法,研究途径是评估组织绩效的最好方法(菲费尔和萨兰西克1978 )。中小企业绩效评估最时尚的方法是平衡计分卡方法。平衡计分卡的四个维度分别为, 金融增长、质量、客户和学习成长(卡普兰和诺顿,1992 )。平衡计分卡实际上侧重于维护货币和非货币措施之间的对称(尼利，1996年)。
账面税差异,平均而言,与盈利增长、未来股票收益和收益持久性系统相关(汉龙,2005)，账面税差异是评估公司绩效的有用措施。与这些研究一致，什林（2002）和安隆，拉普朗特，什林（2005)发现,尽管账面收益反映了公司的年度股票收益好于预计的应纳税所得额。然而,几乎没有证据表明以应纳税所得额为另一种衡量工作表现的方法,尤其是,公司代表性差异减轻或增强的能力,应纳税所得额告知投资者公司业绩(列夫和尼西姆,2004 )。
一些中小企业与其他中小企业比较业绩。他们通过对比分析他们的绩效。绩效还可以通过无效的方法进行评估。在无效率的方法中,重点因素妨碍了组织的功绩。因此本研究旨在探讨税收筹划在多大程度上影响中小企业的财务业绩。
3 纳税筹划
实现中小企业所得税筹划是扭曲的税收筹划, 也就是说, 一方面,越来越多的中小企业依法纳税, 而另一方面, 由于利益机制的作用以及其他各种原因, 越来越多的中小企业涉税案件出现(万贾拉，2005 )。调查显示, 绝大多数中小企业尚未开始或正在考虑实施纳税筹划,浙江不能争取合法税收利益，并破坏经济利益以致大量新兴的额外税收负担。此外, 中小企业纳税筹划往往不合理。由于这一概念的限制,中小企业纳税筹划活动经常遭遇误解,最终获得一些税收执法机构的惩罚和审查(凯盈和万贾拉,2005)。
税法据说几乎没有和我们理解的普遍规律相关。然而,税法的建立，不仅要考虑原则性还要考虑还实用性。税法没有永久不变的元素,只有直接和半永久性的不断冲突。没有税收和税务系统不，国家就不能发展为一个民主国家。奥利弗
? 温德尔? 霍姆斯说:“税收是我们支付给文明社会的”(尼利，1996年)。
4 问题的陈述
今天的税收改革一直朝着考虑新的立法方向发展,比如全新的税收或减轻,而不是通过增加或减少税收的数量修补现有的税收。分析为这一问题即正在考虑扩大税基。肯尼亚也不例外,目前正在考虑非正式的征税,二手服装行业以及所有少量的非正式纳税人。
在肯尼亚很少被讨论的一个问题是，由个人和企业实体合法的减少应付税款的范围。纳税筹划必然会获得肯尼亚税务总局和其他税收收集机构更大的攻击性。这导致政府给税收收集机构施加压力，以提高他们的征税业绩。这一趋势的结果是更严格的执行税收法律。过去和现在的实践是直接逃税,这一事实将继续,充满了风险。
研究新经济商业模式、避税和纳税筹划投资之间关系的研究很重要,因为之前研究避税的文献论述的是具体公司如何避税及其相关属性,而不是调查公司的总体业务模型如何促进或阻碍有效的纳税筹划(弗兰克, 林奇和雷戈，2009 年)。
哈隆和海兹曼(2010 )认为, 尽管很多文献没有很好的解释避税行为的变化。因此由于这一点，这种看似不可阻挡的趋势,合法规避税收的问题自然发生。本研究试图解释当前法律环境下，中小企业纳税筹划的影响，以减少他们的税收负担。5 结论
由于腐败程度、较低的业务增长、经济上的公共财政管理,很大程度上的腐败与高水平的逃税相关，研究得出的结论是, 纳税筹划在固定资产投资上与中小企业的业绩无关。从调查结果来看没有显著的关系。这项研究还得出这样一个结论，通过广告支出的纳税筹划与中小企业的绩效之间不存在显著关系，法律形式的企业税收筹划和中小企业的绩效之间也不存在显著关系。
6 建议税务机关应该致力于解决非正式的纳税筹划,
因为这可能是一种逃避税收的
名义避税。中小企业还应该准备开放吸纳关于纳税筹划的建议，使储蓄泡沫比隐藏起来。进一步的研究建议, 非政府组织需要做正式的税收筹划，以提高他们的业务盈利能力。
本研究对政策理论与实践的影响本研究虽然局限于探讨纳税筹划对中小规模企业财务业绩的影响,因此，税
务机关和商会应该写文件书解决受访者对纳税筹划的认识。这将在经济增长的同时提高中小型企业的增长速度。
原文
The research of tax planning and financial performance in Small andmedium-
sizedenterprise
Frade
1Introduction
The concept of taxation has been a concern ofglobal significance as itaffectseveryeconomyirrespectiveofnationaldifferences(Obohetal.,2012).Withinthe contexto fAfrica,tax,aconceptasoldasmankindcanbedescribedasanamount,effort, contribution or service rendered either in kind (goat, cow, farm produce,
clearingofgrassetc.)ormonetaryvaluecontributedintoacommonpurseforthe runningofthesociety.AccordingtoOmotoso(2001),inhisdefinitionofthemodern t ax es, defined ta x as a c ompul s ory charge imposed b y a publ icaut hori ty on the i ncome of individuals an d c ompanies as stipu l at e d by the go ve rnm e nt decrees, act s orcase laws irrespective of the exact amount of services rendered to the payer inreturn.Thus, taxes constitute the principal source of government revenue and the beauty of anygovernmentisforits citizentovoluntarilyexecutetheirtaxobligationswithoutmuch coercion and harassment (Adedejiand Oboh, 2012).
T ax e vas i on and fisc a l corruptio n have b ee n a g eneral and persistentproblem t hroughout hi s t ory w i t hseri ous ec onom icconseque n ces,not onl yint ra ns i ti on economies, but also in countries with developed tax systems (Raza, 2011). Ingeneral,tax evasion and corruption can have ambiguous effects on Economic growth:tax evasion increases the amount of resources accumulated by entrepreneurs, but it alsoreducestheamountofpublicservicessuppliedbythegovernment,thusleadingtonegativeCons equencesforeconomicgrowth(RoyandRaffaella,2011).Previousstudieshighlight reportsofdecliningeffectivetaxrates anda rising proportion of firmsthatreportlittleornotaxliability.Todate,themaintainedassumptioninmuchoftheliter atureisthataggressivetaxbehavior,ratherthaneconomictrends,isthedriving factor behind this decline (Desai and Dharmapala2009).
TheKenyaRevenueAuthority(K.R.A)isthetaxcollectionagencyofKenya.It wasformed July1,1995toenhancetaxcollectiononbehalfoftheGovernmentofKenya.Itcollectsanumberoftax esandduties,including: valueaddedtax,income tax and customs.Since KRA's inception, revenuecollection hasincreaseddramatically, enabling the government to provide much needed servicesto its citizenrylikefreeprimaryeducationandHealthServicestoall.Over90%ofannualnational budgetfunding comes from local taxes collected by the KRA (GOK, 2010).
It is however important to establish whether the observed increasedrevenuecollection effectivenesshas resulted from aggressive tax management by Kenya
Revenue Authority (KRA) or whether it is, in part, due to increased use of the new economybusiness model. This is important because the sources of tax avoidancehave di sti nc t pol icy im pl ic at ions. The polic y response t o t a x a voidance arisingfrom a gg re ssive tax schem e s and i nve s t me nt s in t ax pla nni ng is li ke ly to be v e rydifferentfrom the response to tax avoidance stemming from a shiftin manyfirms'organizational, operating, and financing attributes, which enable them to exploittheir operatingflexibilitytonaturallyalignwithtaxincentivesthatgeneratetaxsavings(Dru cker 2006).
T he dec r ea s ing t rend i n eff e ctive t a x rate s m ayn ot be sole ly due to a gg res s ive t ax m a nagement but Rat he r, fi rms' m od ifications t o their bus i ness modelsr e s ul tingfrom changing economic trends potentially enabling them to reduce taxburdenswithout additional investments in tax planning (Blouin, and Larcker2011).
2Performance of SmallEnterprises
Different approaches are usedfor performance evaluationin which goalapproach,timeframeapproach,balancedscorecard,systemapproach,andineffectivenessapp roachare included(Jean-Francois,2004).Instakeholderapproach,centreof attention is the ability of a business to meet the needs and expectations ofitsstakeholders (Daft, 1995).Competing values approach expands the range ofotherapproaches.
By using competing values approach, four other models are developed inwhich rationalgoal;internal
process,opensystemandhumanrelationsareincluded(QuinnandRohrbaugh,1983).Performanc eofanorganizationcanbeevaluatedby focusing on problems and retarding factors that inhibit the performance oforganizations(Camaron, 1984). Out of the above mentioned approaches, goal approach isthe superlative approach toevaluatethe performance dueto its
straightforwardness(PfefferandSalancik1978).Mosttrendyapproachofperformanceevaluatio n of SME's is balanced scorecard approach. Balanced scorecard has four dimensionsinwhich financial growth, quality, customers and learning growth is built-in(Kaplan
and Norton, 1992).Balance scorecard actually focuses on maintaining symmetry betweenmonetary and non monetarymeasures (Neely et al.1996).
B ook-tax d i fferen c es, on ave r ag e, a re syst e ma t ic a l ly rel a te d to e arningsgrowth,f utu re stockretur ns,andea rni ngspersiste nc e(Hanlon,2005)andamongotheri mplications, book-tax differences are useful measures in evaluating firmperformance.Consistent with these studies, Shevlin(2002) and Hanlon, Laplante, andShevlin(2005)findthatwhilebookincomeexplainsafirm'sannualstockreturnsbetterthanesti matedtaxableincome,estimatedtaxableincome,onaverage,hasincrementale xplanator ypow er fo r booki nc ome.How e ver,t he reislit t le e vidence regardin gt ax abl e incom e a sa n alt e rn a ti v e perfo r mance me a sure and, i n particular,cross-sectional differences in firms that mitigates or enhances the ability oftaxableincome to inform investors regarding firm performance (Lev and Nissim,2004).
Some SME's compare their performance with that of other SME's. They evaluatetheirperformancebymeansofcomparativeanalysis.Performance canalsobeevaluatedbymeansofineffectivenessapproach.Inineffectivenessapproach,focusison thefactorsthathampersthefeatoforganizations.Thereforethisstudyseeks to investigate the extent to which Tax Planning influences Financial Performance ofSmall Enterprises in EmbutownCBD.
3TaxPlanning
The implementation situation of SME income tax planning is distortedtax planning,thatistosay,ontheonehand,moreandmoreSMEpaytaxinaccordancewitht helaw,andontheotherhand,becauseoftheroleoftheinterestmechanismand other various reasons, more and more SME tax-related cases appear (KaringandWanjala, 2005). According to the survey, the vast majorities SME have not yetstarted orareconsideringcarryingouttaxplanning,whichcannotfightforthelegitimatetaxinter estsandruinfinancialinterestsleadingtoalargenumberofemergingadditional tax burden (Fjeldstadand Rakne, 2003). In addition, SME tax planning istreatedunreasonable. Due to the limitations of the concept, SME tax planning activities often
encounter misunderstanding, punishment and censor from some basic taxationlaw enforcementagencies (Karingand Wanjala,2005).
T ax law is sai d t o be barely c onn ectedw i th t he uni ve r s e and with universal law a s we understand it. However, t ax l a w i s founded not only on pri nc i ple s but alsoonpracticality. There is no element of perpetuity about tax law, only theconstant clashof the immediate and semi permanent (Kibua and Nziok, 2004). A State cannot runa democracywellwithouttaxationandataxationsystemcannotberunwellwithoutdemocracy. OliverWendellHolmeshassaidon oneoccasion, "Taxes are whatwep ay fo r c i vil i zed s oc i et y" (Neely et al. 1996).
4St a tement of theProble m
Taxreformtodayhasbeenmovingtowardsconsideringnewlegislation,suchaswhole new taxes or reliefs, rather than patching of existing taxes by either increasing ordecreasingtheamountoftaxation. This breaks downintothefactthatthereareongoing considerations of widening the tax base. Kenya is no exception to this andthere are ongoing considerations into taxing the informal or "juakali' sector includingthetaxationofthe"mitumba',thesecondhandclothingindustryaswellas the taxation of all informal tax payers of smallamounts.
A question that appears to generate surprisingly little debate in Kenya isthescope for legally mitigating taxes payable by individuals and corporate entities.Taxplanning is bound to gain increasing significance with the ever greateraggressiveness andsophisticationoftheKenyaRevenue Authorityand other tax collecting bodies.The trend of increased aggressiveness and sophistication in toolsand methodsis occurring against a backdrop of a public policy of domestic sources being theprimarysources of revenues for budgetary purposes. This results in governmental pressureon taxcollectingagenciestoimprovetheirrevenuecollectionperformance.Theresultofth istrendisthemorestringentenforcementoftaxationlaws.Thepastandpresent practice by many of outright evasion is, and likely will continue to be, fraught withrisk.
Examining the relation between the new economy business model, tax avoidance and investments in tax planning is important as previous Studies in the taxavoidance l iterature g enerally e xaminehowspeci f icfi r mattr i but e sarerelate d totaxavoid an ce i ndepende nt ly,rat he rthan i nvestigating ho wfi r ms'ov eral l bu s i n es s m ode lsfacili t at e or hinder effective tax planning(Frank, Lynch, and Rego2009). HanlonandHeitzman(2010) argue that despite the much literature, these do not explainthe variationintaxavoidanceverywell.Thereforeduetothisandsuchseeminglyinexorable trends, the question of tax mitigation bylegitimate avoidance naturallyo ccurs.Thisstudyi nt en ds t o find out th e influence o fs m all E nterprises ta xplann i ng w i t hin t he current l egal envir on ment s o a s so minimiz e t hei r t ax bur d en.
5Conclusion
Due to the corruption levels, low business growth, and management ofpublic financesintheeconomy,wherethereisagreatextentofcorruption,hasarelatedtoahighleve loftaxevasionandthestudyconcludedthattherewas no relationshipbetween tax planning in investmentincapitalasset and performance of smallenterprises in EmbuCBD. The study concludes no significant relationship. The study concludes also that no significant relationship exists between tax planningthroughadvertisement expenditure and performance of small enterprises in EmbuCBDandalso concluded there was no significant relationship the Legal Forms of enterprisetaxplanning and performance of small enterprises in EmbuCBD.
6Recommendations
The tax authorities should address the lack of formal tax planning as this maybe a way of evading taxation in the name of tax avoidance. The small scaleenterprisesshould also be ready to open up to advice on tax planning to make savings latherthan playing a hide and seekgame with tax authorities. Furtherto this, the studyrecommends that there is need to have NGOs to sensitize the respondents as to the need to do formal tax planning as it could increase their Businessprofitability
Implications on Policy Theory andPractice
This study though confined to investigate the influence of tax planning on financialperformance of small scale enterprises has established that little taxplanning t akepl a cea m on g thesm a ll ent erprisesan d theref o r et ax A uthorit i esandthecham b e r o fcomm e rc e sho ul dwriteaposition pa pertoaddresstheaw a rene s s a nduse o f t axplanningbysm allscaleenterprises.Thiswouldimprovethegrowthrateofthesmallenterprises and there after the growth of theeconomy.
英文文献及翻译 文献题目An Overview of Servlet and JSP Technology 文献作者Nagle ,Wiegley 题目翻译Servlet和JSP技术简述 参考人 院 (系) 专业班级 学号
1 A Servlet's Job Servlets are Java programs that run on Web or application servers, acting as a middle layer between requests coming from Web browsers or other HTTP clients and databases or applications on the HTTP server. Their job is to perform the following tasks, as illustrated in Figure 1-1. Figure 1-1Web middleware role 1.1 Read the explicit data sent by the client. The end user normally enters this data in an HTML form on a Web page. However, the data could also come from an applet or a custom HTTP client program. 1.2 Read the implicit HTTP request data sent by the browser. Figure 1-1 shows a single arrow going from the client to the Web server (the layer where servlets and JSP execute), but there are really two varieties of data: the explicit data that the end user enters in a form and the behind-the-scenes HTTP information. Both varieties are critical. The HTTP information includes cookies, information about media types and compression schemes the browser understands, and so on. 1.3 Generate the results. This process may require talking to a database, executing an RMI or EJB call, invoking a Web service, or computing the response directly. Your real data may be in a relational database. Fine. But your database probably doesn't speak HTTP or return results in HTML, so the Web browser can't talk directly to the database. Even if it could, for security reasons, you probably would not want it to. The same argument applies to most other applications.You need the Web middle layer to extract the results inside a document.
附录A：外文文献（译文） 跨国公司财务 有重大国外经营业务的公司经常被称作跨国公司或多国企业。跨国公司必须考虑许多并不会对纯粹的国内企业产生直接影响的财务因素，其中包括外币汇率、各国不同的利率、国外经营所用的复杂会计方法、外国税率和外国政府的干涉等。 公司财务的基本原理仍然适用于跨国企业。与国内企业一样，它们进行的投资项目也必须为股东提供比成本更多的收益，也必须进行财务安排，用尽可能低的成本进行融资。净现值法则同时适用于国内经营和国外经营，但是，国外经营应用净现值法则时通常更加复杂。也许跨国财务中最复杂的是外汇问题。当跨国公司进行资本预算决策或融资决策时，外汇市场能为其提供信息和机会。外汇、利率和通货膨胀三者的相互关系构成了汇率基本理论。即：购买力平价理论、利率平价理论和预测理论。 跨国公司融资决策通常要在以下三种基本方法中加以选择，我们将讨论每种方法的优缺点。 (1) 把现金由国内输出用于国外经营业务； (2) 向投资所在国借贷； (3) 向第三国借贷。 1专业术语 学习财务的学生通常会听到一个单词总在耳边嗡嗡作响：全球化( g l o b a l i z a t i o n )。学习资金市场的全球化必须首先掌握一些新的术语，以下便是在跨国财务中，还有本章中最常用到的一些术语： (1) 美国存托证（American Depository Receipt,ADR）。它是在美国发行的一种代表外国股权的证券，它使得外国股票可在美国上市交易。外国公司运用以美元发行的ADR，来扩大潜在美国投资者群体。ADR以两种形式代表大约690家外国公司：一是在某个交易所挂牌交易的ADR，称为公司保荐形式；另一种是非保荐形式，这些ADR通常由投资银行持有并为其做市。这两种形式的ADR均可由个人投资和买卖，但报纸每天只报告保荐形式
开题报告万科财务报表分析
山东科技大学 本科毕业设计（论文）开题报告题目持续领跑的地产航母—万科财务分析 学院名称 专业班级 学生姓名 学号 指导教师 填表时间：年月日
填表说明 1.开题报告作为毕业设计（论文）答辩委员会对学生答辩资格审查的依据材料之一。 2.此报告应在指导教师指导下，由学生在毕业设计（论文）工作前期完成，经指导教师签署意见、相关系主任审查后生效。 3.学生应按照学校统一设计的电子文档标准格式，用A4纸打印。 4.参考文献不少于8篇，其中应有适当的外文资料（一般不少于2篇）。 5.开题报告作为毕业设计（论文）资料，与毕业设计（论文）一同存档。
设计（论文） 题目 持续领跑的地产航母—万科财务分析 设计（论文）类型（划“√”）工程 实际 科研 项目 实验 室建 设 理论 研究 其它 一、本课题的研究目的和意义 万科身处一个饱受争议的行业，却罕见而长久地收获了掌声。作为房地产行业的持续领跑者，这与王石和万科坚持走大道、顺大势，阳光、透明、不行贿、不囤地以及绿色发展是分不开的。上海世博会中万科是唯一参展且拥有独立参观的房地产企业，与此同时，万科第一个代表房地产企业拿下2010年中国企业管理杰出贡献奖。在2010年楼市“调控大年”，从年初不时有调控政策出台，万科却在噤若寒蝉的房地产企业笑的很灿烂，今年前10个月万科已实现销售金额869.3亿，超过了原本全年750亿的目标。是什么成就了万科这艘持续领跑的“地产航母”? 本文针对万科2007年至2010年的财务报表及其相关财务数据，结合房地产经营实际现状，从财
务分析的视角，研究万科近年来的财务状况和经营成果，探索万科的可持续发展之路，发现万科经营战略的闪光点和尚且存在的问题，为万科管理层乃至房地产企业提供一定的参考。 二、本课题的主要研究内容（提纲） 1.绪论 1.1研究背景 1.2研究目的和意义 2.我国房地产及万科企业股份有限公司概况 2.1 我国房地产业概况 2.11宏观环境 2.12房地产行业评述 2.13行业绩效评价 2.14万科表现 2.2 万科概况 2.21 公司概况 2.22 发展历程
绩效管理外文翻译外文文献中英翻译____________________________________________________________________ ________________________ Performance management-how to appraise employee performance Abstract Performance appraisal is an important content of human resource management in modern enterprises. According to the problems existing at the present stage Chinese enterprise performance evaluation, put forward the improvement measures to improve the performance appraisal. Performance management is the responsibility between managers and employees and improve the communication performance of the ongoing. The partners should understand why they become partners, thereby supporting the work. Performance evaluation is a part of performance management, do not confuse the two Introduction Challenges of performance management Reasons to avoid performance management: Manager: reports and program has no meaning; no time; afraid of conflict; feedback and observation. (performance management, prevent problems in investment in time, ensure the managers have the time to do the thing you should do staff: bad experience; what was about to happen no bottom; do not understand the significance of performance management; don't like received criticism. Criterion two, performance management, organizational success: 1 Factors: coordination among units means,
财务风险管理 尽管近年来金融风险大大增加，但风险和风险管理不是当代的主要问题。全球市场越来越多的问题是，风险可能来自几千英里以外的与这些事件无关的国外市场。意味着需要的信息可以在瞬间得到，而其后的市场反应，很快就发生了。经济气候和市场可能会快速影响外汇汇率变化、利率及大宗商品价格，交易对手会迅速成为一个问题。因此，重要的一点是要确保金融风险是可以被识别并且管理得当的。准备是风险管理工作的一个关键组成部分。 什么是风险？ 风险给机会提供了基础。风险和暴露的条款让它们在含义上有了细微的差别。风险是指有损失的可能性，而暴露是可能的损失，尽管他们通常可以互换。风险起因是由于暴露。金融市场的暴露影响大多数机构，包括直接或间接的影响。当一个组织的金融市场暴露，有损失的可能性，但也是一个获利或利润的机会。金融市场的暴露可以提供战略性或竞争性的利益。 风险损失的可能性事件来自如市场价格的变化。事件发生的可能性很小，但这可能导致损失率很高，特别麻烦，因为他们往往比预想的要严重得多。换句话说，可能就是变异的风险回报。由于它并不总是可能的，或者能满意地把风险消除，在决定如何管理它中了解它是很重要的一步。识别暴露和风险形式的基础需要相应的财务风险管理策略。 财务风险是如何产生的呢？ 无数金融性质的交易包括销售和采购，投资和贷款，以及其他各种业务活动，产生了财务风险。它可以出现在合法的交易中，新项目中，兼并和收购中，债务融资中，能源部分的成本中，或通过管理的活动，利益相关者，竞争者，外国政府，或天气出现。当金融的价格变化很大，它可以增加成本，降低财政收入，或影响其他有不利影响的盈利能力的组织。金融波动可能使人们难以规划和预算商品和服务的价格，并分配资金。 有三种金融风险的主要来源： 1、金融风险起因于组织所暴露出来的市场价格的变化，如利率、汇率、和大宗商品价格。 2、引起金融风险的行为有与其他组织的交易如供应商、客户，和对方在金融衍生产品中的交易。 3、由于内部行动或失败的组织，特别是人、过程和系统所造成的金融风险。 什么是财务风险管理？ 财务风险管理是用来处理金融市场中不确定的事情的。它涉及到一个组织所面临的评估和组织的发展战略、内部管理的优先事项和当政策一致时的财务风险。企业积极应对金融风险可以使企业成为一个具有竞争优势的组织。它还确保管理，业务人员，利益相关者，董事会董事在对风险的关键问题达成协议。金融风险管理组织就必须作出那些不被接受的有关风险的决定。那些被动不采取行动的战略是在默认情况下接受所有的风险，组织使用各种策略和产品来管理金融风险。重要的是要了解这些产品和战略方面，通过工作来减少该组织内的风险承受能力和目标范围内的风险。 风险管理的策略往往涉及衍生工具。在金融机构和有组织的交易所，衍生物广泛地进行
附件1：外文资料翻译译文 财务报表分析 A.财务比率 我们需要使用财务比率来分析财务报表，比较财务报表的分析方法不能真正有效的得出想要的结果，除非采取的是研究在报表中项目与项目之间关系的形式。例如，只是知道史密斯公司在一个特定的日期中拥有10000美元的现金余额，对我们是没有多大价值的。但是，假如我们知道，这种余额在这种平衡中有4%的流动负债，而一年前的现金余额有25%的流动负债。由于银行家对公司通常要求现金余额保持在银行信用度的20%，不管使用或不使用，如果公司的财务状况出现问题，我们可以立即发现。 我们可以对比比较财务报表中的项目，作出如下结论： 1. 项目之间的资产负债表比较： a）在资产负债表中的一个日期之间的比较，例如项目，现金与流动负债相比； b）同一项目在资产负债表中一个日期与另一个日期之间的比较，例如，现在的现金与一年前比较； c）比较两个项目之间在资产负债表中一个日期和一个相似比率在资产负债表中的另一个日期的比率，例如，现在现金流动负债的比率与另一个项目一年前的相似比率和已经标记的现金状况趋势的比较。 2．项目报表中收入和支出的比较： a）一定时期中的报表项目的比较； b）同一项目在报表中现阶段与上个阶段的比较； c）报表中项目之间的比率与去年相似比率的比较； 3．资产负债表中的项目与报表中收入和支出项目的比较： a）在这些报表项目之间的一个给定的时间内，例如，今年净利润可能以百分比计算今年净值； b）两个报表中项目之间的比率在这几年时间的比较，例如，净利润的比率占今年净值的百分比与去年或者前年的相似比率的比较 如果我们采用上述比较或比率，然后依次比较它们，我们的比较分析结果将获得重要意义：
外文文献原稿和译文 原稿 Performance management - how to appraise employee performance Abstract Performance appraisal is an important content of human resource management in modern enterprises. According to the problems existing at the present stage Chinese enterprise performance evaluation, put forward the improvement measures to improve the performance appraisal. Performance management is the responsibility between managers and employees and improve the communication performance of the ongoing. The partners should understand why they become partners, thereby supporting the work. Performance evaluation is a part of performance management, do not confuse the two Introduction Challenges of performance management Reasons to avoid performance management: Manager: reports and program has no meaning; no time; afraid of conflict; feedback and observation. (performance management, prevent problems in investment in time, ensure the managers have the time to do the thing you should do staff: bad experience; what was about to happen no bottom; do not understand the significance of performance management; don't like received criticism. Criterion two, performance management, organizational success: 1 Factors: coordination among units means, towards a common goal; problem, find the problems, find problems or prevent problems; obey the law, be protected
广东工业大学华立学院 本科毕业设计（论文） 外文参考文献译文及原文 系部会计学系 专业会计学 年级 08级 班级名称 2008级会计（7）班 学号 14010807030 学生姓名吴智聪 2012年 2 月 9 日
目录 1. 外文译文 (1) 2. 外文原文 (5)
中小型企业财务管理中存在的问题及其对策中小型企业在中国经济发展中发挥着重要的作用。统计数据表明，在工商行政管理局登记在册的企业中，中小型企业占了99%，产值和利润分别占总额的60%和40%。此外，中小型企业所提供了75％的城镇就业机会。可见其为中国的稳定和经济繁荣作出了重要贡献。 虽然中小型企业在国民经济中占有重要地位，对中国经济发展与社会稳定具有很重大的意义。但是，中小型企业发展的主要障碍是缺乏有效的财务管理。本文分析了当前中小型企业财务管理中存在的问题，并就改善中小型企业财务管理提出了相应对策。 1.1 中小型企业的财务管理现状 自从21世纪以来，中国的中小型企业的蓬勃发展，在经济增长和社会发展中发挥着非常重要的作用。据财政部统计数据，直到2005年底，中小型企业总数已超过1000万，占中国企业总数的99%。中小型企业提供了75％的城镇就业机会，工业企业的总产值、销售收入、实现的利得税和出口额分别占总数的60%、57%、40%和60%，上缴的税收已经接近了国家税收总额的一半。中小型企业承载着超过75%的技术革新和超过65％的专利发明，他们以其灵活的经营机制和积极创新活动，为经济发展提供了增长的最根本动力。近年来，中国中小企业的消亡率将近70%，大约有30%的中小型企业存在赤字。中小型企业应该如何建立现代企业制度，加强财务管理，并科学地进行资本运作以谋求自身的健康发展，是我们密切关注的一个问题。 1.2 中小型企业财务管理中存在的问题 ⑴财务管理理念滞后，而且方法保守 中小型企业由于管理者自身知识水平的限制，使得企业的管理能力和管理质量较低。他们的管理思想已经不适合现代企业，并且大多数企业领导人缺乏财务管理的理论和方法，忽视了企业资本运作的作用。管理者既不重视财务事，也不参与企业政策的制定和相关管理活动。因此，财务管理无法发挥其应有职能，从而导致企业缺乏现代财务管理的理念，也无从去培训合格的财务人员。 ⑵财务管理工作基础薄弱，缺乏财务监督
财务报表分析外文文献及翻译 LNTU---Acc 附录A 财务报表分析的杠杆左右以及如何体现盈利性和值比率 摘要 关键词:财政杠杆;运营债务杠杆;股本回报率;值比率 传统观点认为，杠杆效应是从金融活动中产生的:公司通过借贷来增加运营的资金。 杠杆作用的衡量标准是负债总额与股东权益。然而，一些负债——如银行贷款和发行的债券，是由于资金筹措，其他一些负债——如贸易应付账款，预收收入和退休金负债，是由于在运营过程中与供应商的贸易，与顾客和雇佣者在结算过程中产生的负债。融资负债通常交易运作良好的资本市场其中的发行者是随行就市的商人。与此相反，在运营中公司能够实现高增值。因为业务涉及的是与资本市场相比，不太完善的贸易的输入和输出的市场。 因此，考虑到股票估值，运营负债和融资负债的区别的产生有一些先验的原因。我们研究在资产负债表上，运营负债中的一美元是否与融资中的一美元等值这个问题。因为运营负债和融资负债是股票价值的组成部分，这个问题就相当于问是否股价与账面价值比率是否取决于账面净值的组成。价格与账面比率是由预期回报率的账面价值决定的。所以，如果部分的账面价值要求不同的溢价，他们必须显示出不同的账面价值的预期回报率。因此， 标准的财务报表分析的能够区分股东从运营中和借贷的融资业务中产生的利润。因此，资产回报有别于股本回报率，这种差异是由于杠杆作用。然而，在标准的分析中，经营负债不区别于融资负债。因此，为了制定用于实证分析的规范，
我们的研究结果是用于愿意分析预期公司的收益和账面收益率。这些预测和估值依赖于负债的组成。 这篇文章结构如下。第一部分概述并指出了了能够判别两种杠杆作用类型，连接杠杆作用和盈利的财务报表分析第二节将杠杆作用，股票价值和价格与账面比率联系在一起。 第三节中进行实证分析，第四节进行了概述与结论。 1 杠杆作用的财务报表分析 以下财务报表分析将融资债务和运营债务对股东权益的影响区别开。这个分析从实证的详细分析中得出了精确的杠杆效应等式 普通股产权资本收益率=综合所得?普通股本 (1) 杠杆影响到这个盈利等式的分子和分母。适当的财务报表分析解析了杠杆作用的影响。以下分析是通过确定经营和融资活动中的资产负债表和损益表的组成开始分析。计算每一项活动所获得的利润，然后引入两种类型的杠杆作用来解释运营和融资的盈利以及股东的总体盈利。 1.1 区分运营和融资过程中的盈利 普通股权=经营资产，金融负债,经营负债,金融负债 (2) 侧重于普通股(以便优先股被视为融资债务)，资产负债表方程可重申如下:经营性资产的区别(如贸易应收款，库存和物业，厂房及设备)和金融资产(存款及可出售证券吸收多余现金)在其他方面。然而，债务方面，融资负债也区别于经营负债。不应该把所 有负债都当作融资负债来处理，相反，只有从运营中得到的现金，就像银行贷款，短期商业票据和债券属于这种类型。其他负债，如应付账款，累计费用，预收收入，重组债务和养老金负债，产生于业务。这种区别并不像当前与长远负债那么简单;养老金负债，例如，通常是长期，短期的借款是一种当前的负债。
绩效考核外文文献及翻译 外文文献 1.Performance appraisals - purpose and how to make it easier Performance appraisals are essential for the effective management and evaluation of staff. Appraisals help develop individuals, improve organizational performance, and feed into business planning. Formal performance appraisals are generally conducted annually for all staff in the organization. His or her line manager appraises each staff member. Directors are appraised by the CEO, who is appraised by the chairman or company owners, depending on the size and structure of the organization. Annual performance appraisals enable management and monitoring of standards, agreeing expectations and objectives, and delegation of responsibilities and tasks. Staff performance appraisals also establish individual training needs and enable organizational training needs analysis and planning. Performance appraisals also typically feed into organizational annual pay and grading reviews, which commonly also coincide with the business planning for the next trading year. Performance appraisals generally review each individual's performance against objectives and standards for the trading year, agreed at the previous appraisal meeting. Performance appraisals are also essential for career and succession planning - for individuals, crucial jobs, and for the organization as a whole. Performance appraisals are important for staff motivation, attitude and behavior development, communicating and aligning individual and organizational aims, and fostering positive relationships between management and staff. Performance appraisals provide a formal, recorded, regular review of an individual's performance, and a plan for future development. Job performance appraisals - in whatever form they take - are therefore vital for managing the performance of people and organizations. Managers and appraises commonly dislike appraisals and try to avoid them. To these people the appraisal is daunting and time-consuming. The process is seen as a difficult administrative chore and emotionally challenging. The annual appraisal is maybe the only time since last year that the two people have sat down together for a meaningful one-to-one discussion. No wonder then that appraisals are stressful - which then defeats the whole purpose. Appraisals are much easier, and especially more relaxed, if the boss meets each of the team members individually and regularly for one-to-one discussion throughout the year. Meaningful regular discussion about work, career, aims, progress, development, hopes and dreams, life, the universe, the TV, common interests, etc., whatever, makes appraisals so much easier because people then know and trust each other - which reduces all the stress and the uncertainty. Put off discussions and of course they loom very large. So don't wait for the annual appraisal to sit down and talk. The boss or the appraises can instigate this. If you are an employee with a shy boss, then take the lead. If you are a boss who rarely sits down and talks with people - or whose people are not used to talking with their boss - then set about relaxing the atmosphere and improving relationships. Appraisals (and work) all tend to be easier when people communicate well and know each other. So sit down together and talk as often as you can, and then when the actual formal appraisals are due everyone will find the whole process to be far more natural, quick, and easy - and a lot more productive too. 2.Appraisals, social responsibility and whole-person development There is increasingly a need for performance appraisals of staff and especially managers, directors and CEO's, to include accountabilities relating to corporate responsibility, represented by various converging corporate responsibility concepts including: the “Triple Bottom Line”; c orporate social responsibility (CSR); Sustainability; corporate integrity and ethics; Fair Trade, etc. The organization must decide the extent to which these accountabilities are reflected in job responsibilities, which would then
会计信息质量在投资中的决策作用对私人信息和监测的影响 安妮比蒂，美国俄亥俄州立大学 瓦特史考特廖，多伦多大学 约瑟夫韦伯，美国麻省理工学院 1简介 管理者与外部资本的供应商信息是不对称的在这种情况下企业是如何影响金融资本 的投资的呢？越来越多的证据表明，会计质量越好，越可以减少信息的不对称和对融资成本的约束。与此相一致的可能性是，减少了具有更高敏感性的会计质量的公司的投资对内部产生的现金流量。威尔第和希拉里发现，对企业投资和与投资相关的会计质量容易不足，是容易引发过度投资的原因。 当投资效率低下时，会计的质量重要性可以减轻外部资本的影响，供应商有可能获得私人信息或可直接监测管理人员。通过访问个人信息与控制管理行为，外部资本的供应商可以直接影响企业的投资，降低了会计质量的重要性。符合这个想法的还有比德尔和希拉里的比较会计对不同国家的投资质量效益的影响。他们发现，会计品质的影响在于美国投资效益，而不是在日本。他们认为，一个可能的解释是不同的是债务和股权的美国版本的资本结构混合了SUS的日本企业。 我们研究如何通过会计质量灵敏度的重要性来延长不同资金来源对企业的投资现金 流量的不同影响。直接测试如何影响不同的融资来源会计，通过最近获得了债务融资的公司来投资敏感性现金流的质量的效果，债务融资的比较说明了对那些不能够通过他们的能力获得融资的没有影响。为了缓解这一问题，我们限制我们的样本公司有所有最近获得的债务融资和利用访问的差异信息和监测通过公共私人债务获得连续贷款的建议。我们承认，投资内部现金流敏感性可能较低获得债务融资的可能性。然而，这种可能性偏见拒绝了我们的假设。 具体来说，我们确定的数据样本证券公司有1163个采样公司（议会），通过发行资本公共债务或银团债务。我们限制我们的样本公司最近获得的债务融资持有该公司不断融资与借款。然而，在样本最近获得的债务融资的公司，也有可能是信号，在资本提供进入私人信息差异和约束他们放在管理中的行为。相关理论意味着减少公共债务持有人获取私人信息，因而减少借款有效的监测。在这些参数的基础上，我们预测，会计质量应该有一
本科毕业设计（论文） 外文翻译 题目双汇企业财务报表分析研究 姓名宋孟姣 专业 2010级财务管理本科1班 学号 201040016 指导教师董玥玥 郑州科技学院工商管理学院 二〇一四年三月
FINANCIAL STA TEMENT ANALYSIS OF EVERAGE AND HOW IT INFORMS ABOUT PORABLIITY AND PRICE-TO-BOOK RA TIOS 1 FINANCIAL STATEMENT ANALYSIS OF EVERAGE The following inimical statement analysis separates the effects of enhancing liabilities and operating liabilities on the portability o f shareholders’ equity. The analysis yields explicit leveraging equations from which the speci?cations for the empirical analysis are developed. Shareholder portability, return on common equity, is measured as Return on common equity (ROCE) = comprehensive net income ÷common equity (1) Appropriate inimical statement analysis disentangles the effects of leverage. The analysis below, which elaborates on parts of Nazism and Penman (2001), begins by identifying components of the balance sheet and income statement that involve operating and enhancing activities. The portability due to each activity is then calculated and two types of leverage are introduced to explain both operating and enhancing portability and overall shareholder portability. 1.1 Distinguishing the Portability of Operations from the Portability of Financing Activities Common equity =operating assets＋financial assets－operating liabilities－Financial liabilities （2）The distinction here between operating assets (like trade receivables, inventory and property, plant and equipment) and inimical assets (the deposits and marketable securities that absorb excess cash) is made in other contexts. However, on the liability side, enhancing liabilities are also distinguished here from operating liabilities. Rather than treating all liabilities as enhancing debt, only liabilities that raise cash for operations—like bank loans, short-term commercial paper and bonds—are classier as such. Other liabilities—such as accounts payable, accrued expenses, deferred revenue, restructuring liabilities and pension liabilities—arise from operations. The distinction is not as simple as current versus long-term
外文文献翻译译文 一、外文原文 Corporate Performance Management Abstract Two of the most important duties of a chief executive officer are (1) to formulate strategy and (2) to manage his company’s performance. In this article we examine the second of these tasks and discuss how corporate performance should be modeled and managed. We begin by considering the environment in which a company operates, which includes, besides outside stakeholders, the industry it belongs and the market it supplies, and then proceed to explain how the functioning of a company can be understood by an examination of its business, operational and performance management models. Next we describe the structure recommended by the authors for a corporate planning, control and evaluation system, the most important part of a corporate performance management system. The core component of the planning system is the corporate performance evaluation model, the structure of which is mapped into the planning system’s database, simulation models and budgeting tools’ structures, and also used to shape information contained in the system’s products, besides being the nucleus of the language used by the system’s agents to talk about corporate performance. The ontology of planning, the guiding principles of corporate planning and the history of ”MADE”, the corporate performance management system discussed in this article, are reviewed next, before we proceed to discuss in detail the structural components of the corporate planning and control system introduced before. We conclude the article by listing the main steps which should be followed when implementing a performance planning, control and evaluation system for a company. 1.Introduction Two of the most important corporate tasks for which a chief executive officer is p rimarily responsible are (1) to formulate strategy and (2) to manage the company’s performance. In this article we examine the second of these tasks and discuss how