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nghin cu nhu cu th trng, phn tch tnh hnh hin ti ca c nn kinh t, ca chnh
doanh nghip. T , vch ra cc chin lc pht trin ngn hn v di hn, nhm mc
ch cui cng l li nhun cho ch s hu .Mt trong nhng hot ng quan trng l
phn tch ti chnh v nh gi hiu qu ti chnh, thng qua tm cc gii php nng
cao hiu qu ti chnh, cng nh nng cao hiu qu sn xut kinh doanh trong tng lai
ca doanh nghip.Nhm a ra mt ci nhn khi qut, ton din v tnh hnh ti chnh
ca doanh nghip nm bt c xu hng hot ng, kh nng sinh li ca doanh
nghip trong tng lai, di y, ti la chn Phn tch tnh hnh ti chnh ca Cng ty
C phn Kinh . Bn cnh vic a ra nhng phn tch, nhn xt v cc ch s ti
chnh trong hot ng kinh doanh, ti cng xut mt s nhng gii php c th ci
thin tnh hnh ti chnh ca doanh nghip
CTCP Kinh
Tn quc t
Kinh Do Corporation
Vit tt
KIDO CORP
Website
www.kinhdofood.com
Thnh lp
Xut thn
Ngnh
Bn l thc n v dc phm
Lnh vc
Bn l thc phm
Mua bn nng sn thc phm, cng ngh phm, vi si, hng may mc, giy
ngnh.
-
Kinh so vi cc doanh nghip khc l ngoi cng ngh hin i, Cng ty rt ch trng
vo k thut ch bin sn phm, nht l cng thc pha ch ph gia, nh m cc loi
bnh ko ca Kinh c mi v hp dn v ring bit. y chnh l mt li th cnh
tranh ln ca Kinh , ngay c i vi nhng i th trong ngnh bnh ko c cng
ngh tng ng.
2008
1,474,433,927,000
2009
2,510,073,920,000
2010
2,329,536,982,000
2011
2,558,532,922,412
1. Tin v cc khon
tng ng tin
206,808,170,000
984,610,642,000
672,316,188,000
967,330,130,617
2. Cc khon u t ti
chnh ngn hn
584,291,011,000
518,183,741,000
161,660,248,000
373,770,318,479
489,407,201,000
825,182,838,000
1,018,355,260,000
724,910,919,717
4. Hng tn kho
181,656,311,000
162,475,837,000
434,328,358,000
398,032,090,636
12,271,234,000
19,620,862,000
42,876,928,000
94,489,462,963
II - TI SN DI HN
1,508,975,741,000
1,737,527,083,000
2,710,327,198,000
3,250,888,458,201
31,059,357,000
22,552,775,000
611,868,000
345,000,000
749,091,750,000
656,084,839,000
937,724,877,000
1,431,032,627,594
38,427,506,000
32,036,205,000
428,127,907,000
393,512,066,935
29,165,076,000
26,591,686,628
5. Ti sn ngn hn
khc
2. Ti sn c nh
3. Li th thng mi
4. Bt ng sn u t
5. Cc khon u t ti
chnh di hn
673,384,865,000
994,535,189,000
1,209,977,565,000
1,255,715,348,986
6. Ti sn di hn khc
17,012,263,000
32,318,075,000
104,719,905,000
143,691,728,058
2,983,409,668,000
4,247,601,003,000
5,039,864,180,000
5,809,421,380,613
835,925,921,000
1,767,439,812,000
1,185,451,713,000
1,959,475,083,174
1. N ngn hn
663,884,852,000
1,632,683,145,000
1,033,997,225,000
1,783,559,913,116
2. N di hn
172,041,069,000
134,756,667,000
151,454,488,000
175,915,170,058
II - VN CH S
HU
2,075,922,772,000
2,418,021,466,000
3,738,214,531,000
3,814,673,283,799
1. Vn ch s hu
2,075,922,772,000
2,413,130,301,000
3,738,214,531,000
3,814,673,283,799
Tng cng ti sn
I - N PHI TR
2. Ngun kinh ph v
cc qu khc
III - LI CH CA
C NG THIU S
Tng cng ngun
vn
4,891,165,000
71,560,975,000
62,139,725,000
116,197,936,000
35,273,013,640
2,983,409,668,000
4,247,601,003,000
5,039,864,180,000
5,809,421,380,613
2008
2009
2011
1,942,808,210,000
4,278,051,638,403
9,867,147,000
9,173,918,000
31,166,008,599
1,455,768,275,000 1,529,355,479,000
1,933,634,292,000
4,246,885,629,804
4. Gi vn hng bn
1,085,979,565,000 1,023,962,679,000
1,248,243,869,000
2,573,745,939,917
2. Cc khon gim tr
doanh thu
1,466,192,242,000 1,539,222,626,000
2010
10,423,967,000
5. Li nhun gp v
bn hng v cung cp
dch v
369,788,710,000
505,392,800,000
685,390,423,000
1,673,139,689,887
118,538,178,000
63,853,564,000
663,953,281,000
127,492,814,648
313,378,932,000
-8,807,083,000
242,452,530,000
180,679,651,253
52,363,765,000
43,758,070,000
42,458,075,000
117,213,229,417
133,177,719,000
164,175,052,000
347,589,484,000
943,673,596,925
9. Chi ph qun l
doanh nghip
121,882,153,000
112,089,615,000
141,634,937,000
331,706,403,979
-80,111,916,000
301,788,780,000
617,666,753,000
344,572,852,378
28,372,935,000
376,775,688,000
34,164,018,000
18,467,397,145
8,806,921,000
118,935,546,000
12,799,791,000
20,752,611,249
19,566,014,000
257,840,142,000
21,364,227,000
-2,285,214,104
-1,143,329,000
12,680,395,000
34,961,809,000
6,893,562,118
-61,689,231,000
572,309,317,000
673,992,789,000
349,181,200,392
7. Chi ph ti chnh
- Trong : Chi ph li
vay
8. Chi ph bn hng
60,918,969,000
110,883,359,000
87,310,301,074
-1,087,205,000
-11,552,689,000
-15,502,430,000
-16,764,537,568
-60,602,026,000
522,943,037,000
578,611,860,000
278,635,436,886
18.1 Li ch ca c
ng thiu s
24,713,537,000
42,419,095,000
56,040,276,000
5,083,224,574
-85,315,563,000
480,523,942,000
522,571,584,000
273,552,212,312
-1,080
6,120
5,189
2,312
17. Li c bn trn c
phiu
Nm 2009
Nm 2010
Nm 2011
Tng ti sn ngn hn
2,510,073,920,000
2,329,536,982,000
2,558,532,922,412
1,632,683,145,000
1,033,997,225,000
1,783,559,913,116
1. 54
2.25
1.42
tr
H s thanh ton ngn
hn
Kh nng thanh ton ngn hn l nng lc p ng cc ngha v thanh ton trong
thi gian ngn ca doanh nghip. Cc ch s thanh ton ngn hn xc dnh nng lc p
ng cc nghia v ti chnh n hn ca doanh nghip (ni cch khc, chi tr cc ha don
uc chuyn ti) .Nu gp kh khn ti chnh, doanh nghip c th khng cn kh nng
thanh ton ng hn cc khon phi tr hoc cn m rng hn mc tn dng ti ngn
hng. Kt qu l, n ngn hn s tng nhanh hn ti sn ngn hn v ch s thanh ton
ngn hn c th gim xung. y c th l tn hin u tin ca trc trc v ti chnh. Tt
nhin, ch s thanh ton ngn hn ca doanh nghip cng cn duc tnh ton v thng k
trong khong thi gian di d c ci nhn dy d vi lch s vn hnh v pht trin
ca doanh nghip.
Qua bng ta thy trong nm 2009 h s thanh ton ngn hn thp nguyn nhn l
tng s N ngn hn phi tr cao ,nm 2010 th con s ny li thp nn dn n h s
thanh ton ngn hn cao v n nm ch s ny ch cn 1,42 do tng n ngn hn tng
cao nguyn nhn chnh l trong nm 2011 cng ty Kinh c khon Vay v n ngn hn
kh ln 882 t tng cao hn so vi nm 2010 ( nm 2010 l 380 t) c th thy r trc
trc ti chnh ca cng ty .Hy vng sang nm 2012 cng ty gii quyt tt vn pht sinh
v n .
Nm 2010
Nm 2011
2,510,073,920,000
2,329,536,982,000
2,558,532,922,412
162,475,837,000
434,328,358,000
398,032,090,636
tng n ngn hn
1,632,683,145,000
1,033,997,225,000
1,783,559,913,116
ch s thanh ton
1.44
1.83
1.21
tng TS ngn hn
hng tn kho
nhanh
tng doanh
Nm 2008
Nm 2009
Nm 2010
Nm 2011
1,602,679,388
1,969,984,731
2,631,751,591
4,392,845,842
thu
tng ti sn
Tng DT
2,983,409,668,000
trn tng TS
4. ch tiu h s N trn TS
H s n trn ti sn =
Nm 2009
Nm 2010
Nm 2011
Tng s n phi tr
1,767,439,812,000
1,185,451,713,000
1,959,475,083,174
Tng ti sn
4,247,601,003,000
5,039,864,180,000
5,809,421,380,613
0.42
0.24
0.34
H s n trn ti sn
n by ti chnh d cp ti vic doanh nghip s dng ngun ti tr t cc khon vay thay cho vn c
phn. Cc php do dn by ti chnh l cng c d xc dnh xc sut doanh nghip mt kh nang thanh
ton cc hp dng n. Doanh nghip cng n nhiu th cng c nguy co cao mt kh nang hon thnh
nghia v tr n. Ni cch khc, n qu nhiu s dn ti xc sut ph sn v kit qu ti chnh cao.
V pha tch cc, n l mt dng ti tr ti chnh quan trng v to li th l chn thu cho doanh
nghip do li sut tin vay duc tnh nhu mt khon chi ph hp l v min thu. Khi doanh nghip vay
n, ch n v ch s hu c phn ca doanh nghip c th gp phi nhng xung dt v quyn li. Ch
n c th mun doanh nghip thc hin cc khon du tu t ri ro hon so vi mong mun ca nhng
ngui du tu vo c phiu ca doanh nghip.
Cc ch s n cung cp thng tin bo v ch n tnh hung mt kh nang thanh ton ca doanh
nghip v th hin nang lc tip nhn cc ngun ti chnh t bn ngoi dp ng nhu cu du tu v pht
trin ca doanh nghip. Tuy nhin, n duc th hin bng cn di k ton ch don thun l mt chua tr.
Do vy, khng c bt k s diu chnh no v mc li sut p dng (c th cao hon hon so vi thi dim
pht sinh khon n) hoc diu chnh do bin dng ri ro duc th hin. t, gi tr k ton ca cc khon
n c th khc rt nhiu so vi gi tr th trung. Mt s hnh khng duc th hin trn bng cn di k
ton nhu nghia v tr tin huu tr hay thu ti sn.
Nm 2008
doanh thu
phi thu ngn hn
Nm 2009
Nm 2010
Nm 2011
825,182,838,000 1,018,355,260,000
724,910,919,717
2.33
2.07
4.87
Vng quay khon phi thu th hin hiu qu ca chnh sch tn dng m doanh
nghip p dng vi nhng bn hng ca mnh. H s vng quay cc khon phi thu cng
ln chng t tc thu hi n ca doanh nghip cng nhanh, kh nng chuyn i t n
sang tin mt phc v sn xut kinh doanh cng nhanh. Khon tin phi thu t khch
hng l s tin m khch hng hin ti vn cn chim dng ca doanh nghip. Ch n
khi khch hng thanh ton bng tin cho khon phi thu ny th coi nh lng vn m
doanh nghip b khch hng chim dng mi khng cn na .Vic chim dng vn ny
thot nhn khng my quan trng, v theo logic thng thng, khch hng n ri khch
hng cng s phi tr cho doanh nghip, khng tr lc ny th tr lc khc, cui cng th
tin vn thuc v doanh nghip ,tuy nhin vn s tr nn nghim trng nu khch hng
chim dng ngy cng cao. Ni chung, h s vng quay cc khon phi thu cng ln
chng t tc thu hi n ca doanh nghip cng nhanh, kh nng chuyn i cc khon
n phi thu sang tin mt cao, iu ny gip cho doanh nghip nng cao lung tin mt,
to ra s ch ng trong vic ti tr ngun vn lu ng trong sn xut. Ngc li, nu
h s ny cng thp th s tin ca doanh nghip b chim dng ngy cng nhiu, lng
tin mt s ngy cng gim, lm gim s ch ng ca doanh nghip trong vic ti tr
ngun vn lu ng trong sn xut v c th doanh nghip s phi i vay ngn hng
ti tr thm cho ngun vn lu ng ny.
H s vng quay cc khon phi thu ngn hn ca Kinh c xu hng gim
trong 2 nm 2009 2010, trong cc khon phi thu t khch hng c xu hng tng
kh mnh t 825 t ln 1018 t v n nm 2011 li gim cn 724 t .Nm 2011 h s
vng quay cc khon phi thu ngn hn cao bi doanh thu thun ca cng ty tng gp 2.2
ln so vi nm 2010. Nghip v ch yu ca Kinh v cc bn hng ca mnh l mua
bn thnh phm, nguyn vt liu, cng c phc v sn xut. Vic p dng chnh sch tn
6. Kh nng sinh li vn ch s hu
Kh nng sinh li ca vn ch s hu =
Nm 2009
Nm 2011
522,943,037,000
578,611,860,000
278,635,436,886
2,413,130,301,000
3,738,214,531,000
3,814,673,283,799
22%
15%
7%
Nm 2010
Kh nng sinh li
ca vn ch s hu
522,943,037,000
4,247,601,003,000
12%
Nm 2010
578,611,860,000
5,039,864,180,000
11%
Nm 2011
278,635,436,886
5,809,421,380,613
5%
Nm 2010
Nm 2011
847,735,613,000
1,018,967,128,000
725,255,919,717
Tng n phi tr
T l cc khon phi
thu so vi phi tr
1,767,439,812,000
0.48
1,185,451,713,000
0.86
1,959,475,083,174
0.37
1. Gii php
Gii php nng cao trong hot ng sn xut v kinh doanh
Qua kt qu hot ng sn xut kinh doanh 4 nm ca doanh nghip, ta thy vic
u t cng ngh k thut cao lm cho sn phm hng ha ca doanh nghip a dng v
tit kim c nhiu chi ph. Hot ng chnh ca doanh nghip l sn xut kinh doanh
Sa, cho nn vic u t khoa hc k thut cho ngnh hng sa l rt quan trng, khng
nhng em li li ch kinh t cho doanh nghip m cn to dng nn uy tn ca doanh
nghip trn th trng.
Bn cnh , doanh nghip c lc lng bn hng tt, bn hng tt hn v
gim thiu khi lng hng tn kho. V khi lng hng tn kho qua 4 nm qua cn
nhiu, iu khng tt, c bit l sn phm ca cng ty l sa.
2. Kin ngh
i vi Nh nc
Nh nc nn c nhng chnh sch khuyn kch v u i i vi doanh nghip,
nh: chnh sch thu, to iu kin cho doanh nghip pht trin trong v ngoi nc.
u tin trong vic vay vn u t, chnh sch li sut thp, thc y nng cao hiu
qu sn xut.
n gin ha cc th tc hnh chnh i vi cc doanh nghip trong vn kinh
t.
i vi doanh nghip
Nn u t khoa hc k thut v m rng quy m trong kinh doanh sn xut.
Nn cao trnh tay ngh lm vic ca cng nhn thng qua cc kha o to v
hun luyn.
i vi b phn bn hng, qun l cn phi hun luyn v o to nhm nng cao
trnh chuyn mn, thc y vic kinh doanh pht trin.