It is performed by professionals who prepare reports using ratios that make use of information taken from financial statements and other reports. These reports are usually presented to top management as one of their bases in making business decisions. Based on these reports, management may:
●Continue or discontinue its main operation or part of its business;
●Make or purchase certain materials in the manufacture of its product;
●Acquire or rent/lease certain machineries and equipment in the production of its goods;
●Issue stocks or negotiate for a bank loan to increase its working capital;
●Make decisions regarding investing or lending capital;
●Other decisions that allow management to make an informed selection on various alternatives in the conduct of its business.
Goals
Financial analysts often assess the firm's:
1. Profitability - its ability to earn income and sustain growth in both short-term and long-term. A company's degree of profitability is usually based on the income statement, which reports on the company's results of operations;
2. Solvency - its ability to pay its obligation to creditors and other third parties in the long-term;
3. Liquidity - its ability to maintain positive cash flow, while satisfying immediate obligations;
Both 2 and 3 are based on the company's balance sheet, which indicates the financial condition of a business as of a given point in time.
4. Stability- the firm's ability to remain in business in the long run, without having to sustain significant losses in the conduct of its business. Assessing a company's stability requires the use of both the income statement and the balance sheet, as well as other financial and non-financial indicators.
Methods
Financial analysts often compare financial ratios (of solvency, profitability, growth, etc.):
Past Performance - Across historical time periods for the same firm (the last 5 years for example),
Future Performance - Using historical figures and certain mathematical and statistical techniques, including present and future values, This extrapolation method is the main source of errors in financial analysis as past statistics can be poor predictors of future prospects.
Comparative Performance - Comparison between similar firms.
These ratios are calculated by dividing a (group of) account balance(s), taken from the balance sheet and / or the income statement, by another, for example :
n / equity = return on equity
Net income / total assets = return on assets
Stock price / earnings per share = P/E-ratio
Comparing financial ratios is merely one way of conducting financial analysis. Financial ratios face several theoretical challenges:
●They say little about the firm's prospects in an absolute sense. Their insights about relative performance require a reference point from other time periods or similar firms.
●One ratio holds little meaning. As indicators, ratios can be logically interpreted in at least two ways. One can partially overcome this problem by combining several related ratios to paint a more comprehensive picture of the firm's performance.
●Seasonal factors may prevent year-end values from being representative. A ratio's values may be distorted as account balances change from the beginning to the end of an accounting period. Use average values for such accounts whenever possible.
●Financial ratios are no more objective than the accounting methods employed. Changes in accounting policies or choices can yield drastically different ratio values.
●They fail to account for exogenous factors like investor behavior that are not based upon economic fundamentals of the firm or the general economy (fundamental analysis).
Financial analysts can also use percentage analysis which involves reducing a series of figures as a percentage of some base amount. For example, a group of items can be expressed as a percentage of net income. When proportionate changes in the same figure over a given time period expressed as a percentage is know as horizontal analysis. Vertical or common-size analysis, reduces all items on a statement to a “common size” as a percentage of some base value which assists in comparability with other companies of different sizes.
Another method is comparative analysis. This provides a better way to determine trends. Comparative analysis presents the same information for two or more time periods and is presented side-by-side to allow for easy analysis.
Balance sheet
In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition". Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time.
A standard company balance sheet has three parts: assets, liabilities and ownership equity. The main categories of assets are usually listed first, and typically in order of liquidity. Assets are followed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities.
Another way to look at the same equation is that assets equals liabilities plus owner's equity. Looking at the equation in this way shows how assets were financed: either by borrowing money (liability) or by using the owner's money (owner's equity). Balance sheets are usually presented with assets in one section and liabilities and net worth in the other section with the two sections "balancing."
Records of the values of each account or line in the balance sheet are usually maintained using a system of accounting known as the double-entry bookkeeping system.
A business operating entirely in cash can measure its profits by withdrawing the entire bank balance at the end of the period, plus any cash in hand. However, many businesses are not paid immediately; they build up inventories of goods and they acquire buildings and equipment. In other words: businesses have assets and so they can not, even if they want to, immediately turn these into cash at the end of each period. Often, these businesses owe money to suppliers and to tax authorities, and the proprietors do not withdraw all their original capital and profits at the end of each period. In other words businesses also have liabilities.
Income statement
Income statement, also referred as profit and loss statement (P&L), earnings statement, operating statement or statement of operations, is a company's financial statement that indicates how the revenue (money received from the sale of products and services before expenses are taken out, also known as the "top line") is transformed into the net income (the result after all revenues and expenses have been accounted for, also known as the "bottom line"). It displays the revenues recognized for a specific period, and the cost and expenses charged against these revenues, including write-offs (e.g., depreciation and amortization of various assets) and taxes. The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.
The important thing to remember about an income statement is that it represents a period of time. This contrasts with the balance sheet, which represents a single moment in time.
Charitable organizations that are required to publish financial statements do not produce an income statement. Instead, they produce a similar statement that reflects funding sources compared against program expenses, administrative costs, and other operating commitments. This statement is commonly referred to as the statement of activities. Revenues and expenses are further categorized in the statement of activities by the donor restrictions on the funds received and expended.
The income statement can be prepared in one of two methods. The Single Step income statement takes a simpler approach, totaling revenues and subtracting expenses to find the bottom line. The more complex Multi-Step income statement (as the name implies) takes several steps to find the bottom line, starting with the gross profit. It then calculates operating expenses and, when deducted from the gross profit, yields income from operations. Adding to income from operations is the difference of other revenues and other expenses. When combined with income from operations, this yields income before taxes. The final step is to deduct taxes, which finally produces the net income for the period measured.
Usefulness and limitations of income statement
Income statements should help investors and creditors determine the past financial performance of the enterprise, predict future performance, and assess the capability of generating future cash flows through report of the income and expenses.
However, information of an income statement has several limitations:
Items that might be relevant but cannot be reliably measured are not reported (e.g. brand recognition and loyalty).
Some numbers depend on accounting methods used (e.g. using FIFO or LIFO accounting to measure inventory level).
Some numbers depend on judgments and estimates (e.g. depreciation expense depends on estimated useful life and salvage value).
Items on income statement
Operating section
●Revenue - Cash inflows or other enhancements of assets of an entity during a period from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major operations. It is usually presented as sales minus sales discounts, returns, and allowances.
●Expenses - Cash outflows or other using-up of assets or incurrence of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major operations.
1. General and administrative expenses (G & A) - represent expenses to manage the business (officer salaries, legal and professional fees, utilities, insurance, depreciation of office building and equipment, office rents, office supplies)
2. Selling expenses - represent expenses needed to sell products (e.g., sales salaries, commissions and travel expenses, advertising, freight, shipping, depreciation of sales store buildings and equipment)
3. Selling General and Administrative expenses (SG&A or SGA) - consist of the combined payroll costs (salaries, commissions, and travel expenses of executives, sales people and employees), and advertising expenses a company incurs. SGA is usually understood as a major portion of non-production related costs, opposing production related costs such as raw material and (direct) labour
4. R & D expenses - represent expenses included in research and development
5. Depreciation - is the charge for a specific period (i.e. year, accounting period) with respect to fixed assets that have been capitalised on the balance sheet.
Non-operating section
●Other revenues or gains - revenues and gains from other than primary business activities (e.g. rent, patents). It also includes unusual gains and losses that are either unusual or infrequent, but not both (e.g. sale of securities or fixed assets)
●Other expenses or losses - expenses or losses not related to primary business operations.
Irregular items
They are reported separately because this way users can better predict future cash flows - irregular items most likely will not recur. These are reported net of taxes.
●Discontinued operations is the most common type of irregular items. Shifting business location, stopping production temporarily, or changes due to technological improvement do not qualify as discontinued operations.
●Extraordinary items are both unusual (abnormal) and infrequent, for example, unexpected natural disaster, expropriation, prohibitions under new regulations. Note: natural disaster might not qualify depending on location (e.g. frost damage would not qualify in Canada but would in the tropics).
●Changes in accounting principle is, for example, deciding to depreciate an investment property that has previously not been depreciated. However, changes in estimates (e.g. estimated useful life of a fixed asset) do not qualify.
Earnings per share
Because of its importance, earnings per share (EPS) are required to be disclosed on the face of the income statement. A company which reports any of the irregular items must also report EPS for these items either in the statement or in the notes.
Cash flow statement
In financial accounting, a cash flow statement, also known as statement of cash flows or funds flow statement, is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities. Essentially, the cash flow statement is concerned with the flow of cash in and cash out of the business. The statement captures both the current operating results and the accompanying changes in the balance sheet. As an analytical tool, the statement of cash flows is useful in determining the short-term viability of a company, particularly its ability to pay bills. International Accounting Standard 7 (IAS 7), is the International Accounting Standard that deals with cash flow statements.
People and groups interested in cash flow statements include:
●Accounting personnel, who need to know whether the organization will be able to cover payroll and other immediate expenses
●Potential lenders or creditors, who want a clear picture of a company's ability to repay
●Potential investors, who need to judge whether the company is financially sound
●Potential employees or contractors, who need to know whether the company will be able to afford compensation
●Shareholders of the business.
Purpose
The cash flow statement was previously known as the flow of funds statement. The cash flow statement reflects a firm's liquidity.
The balance sheet is a snapshot of a firm's financial resources and obligations at a single point in time, and the income statement summarizes a firm's financial transactions over an interval of time. These two financial statements reflect the accrual basis accounting used by firms to match revenues with the expenses associated with generating those revenues. The cash flow statement includes only inflows and outflows of cash and cash equivalents; it excludes transactions that do not directly affect cash receipts and payments. These noncash transactions include depreciation or write-offs on bad debts or credit losses to name a few.The cash flow statement is a cash basis report on three types of financial activities: operating activities, investing activities, and financing activities. Noncash activities are usually reported in footnotes.
The cash flow statement is intended to:
1. provide information on a firm's liquidity and solvency and its ability to change cash flows in future circumstances
2. provide additional information for evaluating changes in assets, liabilities and equity
3. improve the comparability of different firms' operating performance by eliminating the effects of different accounting methods
4. indicate the amount, timing and probability of future cash flows
The cash flow statement has been adopted as a standard financial statement because it eliminates allocations, which might be derived from different accounting methods, such as various timeframes for depreciating fixed assets.
Cash flow activities
The cash flow statement is partitioned into three segments, namely: cash flow resulting from operating activities, cash flow resulting from investing activities, and cash flow resulting from financing activities.
The money coming into the business is called cash inflow, and money going out from the business is called cash outflow.
Operating activities
Operating activities include the production, sales and delivery of the company's product as well as collecting payment from its customers. This could include purchasing raw materials, building inventory, advertising, and shipping the product.
Under IAS 7, operating cash flows include:
●Receipts from the sale of goods or services
●Receipts for the sale of loans, debt or equity instruments in a trading portfolio
●Interest received on loans
●Dividends received on equity securities
●Payments to suppliers for goods and services
●Payments to employees or on behalf of employees
●Interest payments (alternatively, this can be reported under financing activities in IAS 7, and US GAAP)
Items which are added back to [or subtracted from, as appropriate] the net income figure (which is found on the Income Statement) to arrive at cash flows from operations generally include:
●Depreciation (loss of tangible asset value over time)
●Deferred tax
●Amortization (loss of intangible asset value over time)
●Any gains or losses associated with the sale of a non-current asset, because associated cash flows do not belong in the operating section.(unrealized gains/losses are also added back from the income statement)
Investing activities
Examples of Investing activities are
●Purchase of an asset (assets can be land, building, equipment, marketable securities, etc.)
●Loans made to suppliers or customers
●Payments related to mergers and acquisitions
Financing activities
Financing activities include the inflow of cash from investors such as banks and shareholders, as well as the outflow of cash to shareholders as dividends as the company generates income. Other activities which impact the long-term liabilities and equity of the company are also listed in the financing activities section of the cash flow statement.
Under IAS 7,
●Proceeds from issuing short-term or long-term debt
●Payments of dividends
●Payments for repurchase of company shares
●Repayment of debt principal, including capital leases
●For non-profit organizations, receipts of donor-restricted cash that is limited to long-term purposes
Items under the financing activities section include:
●Dividends paid
●Sale or repurchase of the company's stock
●Net borrowings
●Payment of dividend tax
财务分析 （也称为财务报表分析或会计分析) 指的是对一个公司，子公司或者一个项目的营运能力、 稳定性和盈利能力的评估。
它由编制报表的专业人员使用比率并且利用财务会计报告和其他报告的信息来完成的。这些财务报表通常是被呈交给最高的管理层作为做出公司抉择的基础和参考。给予财务报表，管理层可以：
●继续或者中断公司主要方面的经营
●制造或者购买用于生产产品的原材料
●购买或者租用用于生产产品的机器设备
●发行股票或者向银行贷款来增加营运资本
●在投资和借入资本之间做选择
●在多种多样的选择前提下根据自身的条件做出明智的其他选择
目标
财务分析者经常评估公司的：
1.、盈利能力——赚取收入并且维持短期和长期的增长的能力。一个公司的盈利程度通常可以参照利润表，利润表是报告一个公司经营绩效的报表。
2、偿付能力——长期支付给债券人或者第三方债务的能力。
3、流动能力——在满足短期债务支付的同时保持一个相对稳定和健康的现金流的能力。
以上的第2和第3 个能力可以参考资产负债表，资产负债表是体现一个公司在某个特定的时间点上财务状况的报表。
4、稳定能力——公司在很长一个时期内能够维持经营并且在自己的业务方面不发生重大的损失的能力。评估一家公司的稳定性需要参考利润表和资产负债表,以及其他财务和非财务指标。
方法
财务分析者经常比较公司（偿付能力，盈利能力和成长能力等）的财务指标：
过去的业绩——同一个公司的历史时期（以过去的5年为例）
未来的表现——用历史数据和一定的数学与统计方法,包括当前和未来的价值。如果过去的数据不能很好地作为预测未来的一句，那么这种推测的方法将会是财务分析中误差的主要来源。
比较的业绩——与类似公司的比较
这些比率指标是通过区分对照来自另一个公司的资产负债表或者利润表的一个或者一组会计账户来计算的。
财务比率比较仅仅是进行财务分析的一种方法。财务比率分析受到以下几点的理论挑战：
在绝对意义上财务比率分析很少关注一个企业的前景，它们对于相关业绩的分析结论需要一个其他时期或者类似公司的参考点。
单一的比率代表的意义很少，作为指标时，比率至少可以被两种逻辑方法解释，一种解释只能够在一定程度上通过结合几个相关的比率来更加全面得描绘出公司的经营业绩的图景来克服这个问题。
季节性因素可能使得年终值不具有代表性。一个比率值可能会因为会计账户在一个会计期间从开始到结束的变化而被改变。可能的时候尽量使用账户的平均值进行计算。
财务比率并不比采用的会计方法客观，会计和会计选择的变更可以产生截然不同的比率值，这些不同的比率值对于像不以企业的经济基础和大经济背景为前提的投资者的行为是没有办法解释的。
财务分析者同样可以使用百分比分析法，举个例子，一些项目可以用净收入的百分比来表示，当同一个数字的比例在给定的时期内发生了变化，这就是所谓的水平分析，垂直分析或者常规分析就是减少在报表上一些的项目以取得一个有利于与不同规模的其他公司相比较的基础百分比。
另一种分析方法是比较分析方法，这种方法提供了一种很好的预测趋势的途径，比较分析方法呈现了两个或者更多阶段里相同指标的信息，这些信息被对照的排列以完成简单的分析。
资产负债表
在财务会计中，资产负债表或者财务状况的报表是一份关于一个独资公司，一个合伙企业或者一个集团公司的财务余额的总结。资产，负债，所有者权益的具体数据在一个财务年度的结束时被列示在报表中。资产负债表又被描述为一个公司财务状况的快照，在三大财务报表中，资产负债表是唯一的基于一个时间点的财务状况的报表。
一份标准的公司资产负债表有三个部分组成，资产，负债和所有者权益。资产的主要分类通常被列示在最前面，资产的排列顺序是根据自身的流动性而来的。资产与负债的差额就是所谓的所有者权益或者说是净资产，公司的资本净值，按照会计的恒等式，净值必须等于资产的数值减去负债的数值。
另一种解读这个会计恒等式方式是资产=负债+所有者权益，这种方式的解读显示了资产是通过怎样来融资取得的，到底是通过借贷资金（负债）还是所有者资金投入（所有者权益）。
资产负债表通常是一边列示资产一边列示负债和所有者权益的，两边的数值必须相等才可以。
在资产负债表里每一个账户数值记录都使用一种叫做复式记账系统的会计系统。
一个企业营业现金总数可以通过所获的利润加上一个时期结束时银行账户余额的回单以及库存现金来计算。许多企业都不是马上支付钱款的，企业建立库存商品，取得生产的产地和设备，企业拥有资产但是不能，即使他们愿意，转化这些资产成为现金，企业经常不是买上支付供应商和税务机关的钱，所有者也不是在每一个时期的结束时提取他们全部的原始的资本投入和所获的利润。换句话说就是企业通常是有负债的。
利润表
利润表，通常也指损益表和 经营业绩报表是一个公司表明从销售商品和提供劳务中获得收入（这个收入通常是在指费用扣除之前的，也就是表最上方的数字）如何转化成净利润（所有的收入和费用都被分担完后，也就是表最下面的数字）的报表。利润表所呈现的是在一段特定时期内可确认的收入和获得这些收入所应担负的支出，包括许多固定资产的折旧和摊销以及相关的税费。编制利润表的意义是给管理者和投资者展示这个公司在这段报告期内是盈利还是亏损。
关于利润表所需要记住的一点是它报告的数据是一个时期的，而不是像资产负债表一样是单独一个时间点的。
慈善机构被要求对外提供的财务报表是不包括利润表的，但是要提供一个相似的反映资金来源和费用项目（如管理费用和其他营运承诺）的报表。这份报表通常被认为是营运活动的总结。收入和费用根据捐赠者对资金和支出的在这个营运活动表中被进一步地分类。
利润表可以用一种或两种方式编制，简单的利润表只需要提供一些简单的数据，总收入减去总费用来得到表最下面的数字。复杂一点的利润表需要通过几个步骤才能得到表最下面的数字，从毛利润开始，然后计算营业费用，毛利润减去营业费用就得到了营业收入，再加上其他业务收入与其他业务成本的差额就得到税前的收入。最后一步就是扣除税费，这样就最终得到了报告期的净利润。
利润表的用处和
利润表可以帮助投资者和资金借贷者判断一个公司过去的经营业绩，预测未来的经营表现，从而得出该公司形成未来现金流量能力。
然而利润表的信息还是有一些和不足的：
1、一些相关的项目可能没有被可靠地测量以及报告（如商标的认知度和顾客的忠诚度）；
2、一些数据的得出是根据所使用的会计方法的;
3、一些数据是依靠主观的判断和预测的（如折旧费用和可使用寿命以及薪资水平）
利润表项目
主营业务部分
收入——在一定时期内通过生产和销售商品，提供劳务或者其他的构成公司主营业务的活动获得的现金流入或者资产的增加，它通常是销售收入扣除销售折扣，折让以及津贴。
费用——在一定时期内通过生产和销售商品，接受劳务或者其他的构成公司主营业务的活动支付的现金流出或者资产的使用减少或者负债的增加。
1、行政费用理一个企业所要支付的（行政人员工资，公共事业，保险，行政办公楼房和设备的折旧，租金以及一些行政所需的物资）
2、销售费用是这销售产品素所要支付的（销售人员工资，佣金，差旅费，广告费，货物的运输费以及销售部门的折旧）
3、总的销售和管理费用包括了所有的薪金（工资，佣金以及高层人员，销售人员和一般员工的差旅费）和要投入的广告费，总的销售和管理费用通常被认为是相对于生产用的成本（如直接材料和直接人工）的非生产用用的成本的主要组成部分。
4、研发费用是用于专利的研究和企业的发展的费用
5、折旧是指一个特定时期如一个会计期间反映在资产负债表上的固定资产价值的变化。
营业外部分
营业外收入是指公司基本业务之外的收入和利得（如场地的租金和专利的使用权），它包括不寻常的利得或者损失，这些情况要么是不符合常规，要么就是不经常发生的。
营业外支出是指与公司基本业务无关的支出。
非常规项目
这些项目将被单独分开的报告因为这样有利于报告使用者更好的预测未来的现金流量。非常规项目通常是不会重复发生。
终断的经营项目是非常规项目最常见的一种，公司地址的变更，暂时的停产，或者技术的改造都属于这类。
特殊的情况包括不可预见的自然灾害，征用，新的的禁令。
会计的变更，比如说决定一个以前计提过折旧的投资项目的折旧额，无法明确的预测的变更（固定资产的可使用年限）。
每股收益
每股收益因为本身的重要性，所以被要求在利润表的第一页上就要透露，报告有非常规项目的公司必须同时在利润表里或者备注里报告每股收益。
现金流量表
在财务会计中，现金流量表通常又被称为是资金流动的报表。它是反映资产负债表上的账户和利润如何影响现金和现金等价物的，使分析进一步深入到公司是如何进行筹资，营运和投资活动的。在本质上，现金流量表关心的是一个公司现金的流入和流出，它对公司现在的经营业绩和将要在资产负债表上体现的变化都做了概括。作为一个分析的工具，现金流量表对于一个公司短期流动性的判断是很有用的，特别是对偿付能力的分析。国际通用的7条会计准则都是针对现金流量表而言的。
关注现金流量表的人和集团包括：
●会计上的人员，需要知道公司是否具有偿付薪金和其他短期费用的能力
●潜在的资金借贷者，需要清楚地知道公司的偿付能力。
●潜在的投资者，需要判断公司是否具有投资的价值。
●潜在的员工和承包商需要知道公司是否能够及时支付补偿。
●公司股份的持有人
目标
现金流量表先前被认为是资金流动的报表，它反应的是一个公司的流动性问题。
资产负债表是一个公司在某个特定时间点上财务资源和应耽误的义务的快照，利润表是在一段时间内财务交易活动的总结。这两份报表反应的是企业实际采用的为了使收入和支出能够相匹配的会计计量基础。现金流量表包括现金和现金等价物的流入和流出，但是它不包括不影响现金收支的交易。这些不以现金为基础的交易包括折旧，坏账的注销以及借贷的损失。现金流量表是一个反应公司三种财务活动，筹资活动，营运活动，投资活动的现金基础。非现金活动经常在附录中被列示。
编制现金流量表是为了：
●提供关于一个公司流动性，偿付能力以及在未来的环境下转化现金的能力的信息。
●提供评估资产，负债，所有者权益变化的附加信息。
●提供通过消除不同会计方法的影响后不同企业经营业绩的可比性。
●预测未来现金流量的数量，时间和可能性
现金流量表已经被作为一个标准的财务报表而广泛采纳，因为它消除了使用不同会计方法造成的分歧，比如说时间的划分和固定资产的折旧。
现金流量又被细分为三个分支，经营活动的现金流量，投资活动的现金流量，筹资活动的现金流量。
进入一个企业的现金叫做现金的流入，流出一个企业的现金叫做现金的流出。
经营活动
经营活动包括生产，销售和传送商品和回收客户钱款。它包括购买直接材料，建立库存商品，投放广告和运输商品。
根据国际7条会计准则，经营现金流量包括：
1、销售商品和提供劳务获得的收入
2、买卖债券和权益工具所获得收益
3、利息收入
4、权益证券的分红
5、支付供应商货款或者服务费
6、支付职工工资和薪酬
7、利息费用
加入到净利润数字中以得到一个经营活动的现金流量的项目包括：
1、折旧
2、延期的税费
3、摊销
4、任何与非现有的资产有联系的利得和损失，因为相关的现金流不属于经营活动这部分。
投资活动
举例有：
1、购买资产（资产可以是土地，建筑物，设备，可供出售的金融资产等）
2、供应商或者客户的欠款
3、有关收购和合并的支付
筹资活动
筹资活动包括向投资者比如银行或者股东借入现金，向股东支付分红付出现金等。其他关于形成公期负债和所有者权益的活动也都被归于筹资活动者部分的现金流量。
在国际7条会计准则下：
1、发行短期和长期债券的收益
2、分红的支付
3、回购公司股份的支付
4、公益机构收到的基于长远考虑的有的现金的捐赠。
在筹资活动部分包括的项目：
1、已支付的分红
2、公司股票的销售和回购
3、净借入资金
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