会计翻译

C.

1. Gross Profit Percentage

Analysis：

2012年的Gross Profit Percentage为29.90%，2011年的Gross Profit Percentage为34.87%。2012年与2011年Gross Profit Percentage相比，2012年的Gross Profit Percentage下降了（fall down / decrease），从2011年的34.87%下降到29.90%，2012年的Gross Profit Percentage比2011年的Gross Profit Percentage减少了4.97%。Gross Profit Percentage下降说明可该企业的赚钱能力变差了。导致该企业赚钱能力变差的原因主要是因为该企业的采购成本（purchasing price/cost of sales）增加了，从2011年的?12700000增加到了?14300000,2012年的purchasing price比2011 年的purchasing price增加了?1600000。而且可能是因为随着圣诞节的来到，该企业对其产品做一些营销活动，比如：打折促销等等，因此导致了销售价格下降。由于以上两点原因，因此导致了该企业2012年的Gross Profit Percentage下降。The Gross Profit Percentage in 2012 is 29.90% while it is 34.87% in 2011, so we can see the Gross Profit decreases from 43.87% to 29.90%. In other words, it decreases by 4.97% when compared the two years. The decrease of the profit percentage indicates that the enterprise has become weaker in earning money. The main reason for the phenomenon is the increasing cost of sales, which has increased from ?12,700,000 in 2011 to ? 14,300,000 in 2012, with net increase of ? 1,600,000/ In addition, with the Christmas Festival, the enterprise has held some sales activities of its products, such as discounts and promotions with the result of decreasing sales price. Based on the two reasons, the gross profit percentage decreases in 2012.

2. Net Profit Percentage

Analysis：

由此可以看出，2012年的Net Profit Percentage与2011年的Net Profit Percentage 相比下降了6.68%。说明了该企业的赚钱能力变差了。造成Net Profit Percentage 下降的原因，首先是因为产品的成本增加了，从2011年的?12700000增加到了?14300000,2012年比2011年增加了?1600000。第二，由于该企业2012年的其他开销费用比2011年的其他开销费用增加了，2011年的expenses为?2500000，而2012年的expenses却为?3000000，2012年的expenses比2011年的expenses增加了?50000。由于以上原因从而导致了该企业2012年的Net Profit Percentage减少了。

So we can see that the net profit percentage in 2012 decreases by 6.68% that that in 2011, which shows that the enterprise becomes weaker in earning money. Two reasons can be contributed to the phenomenon. On the one hand, the cost increases from ? 12.700,000 in 2011 to ? 14.300,000 in 2012, with the net increase of 1,600,000. On the other hand, the expense in 2012 also increases more than that in 2011, from ?

2,500,000 to ? 3,000,000, with the net increase of 50,000. Based on the two reasons, the net profit percentage begins to decrease in 2012.

3. Current Ratios

Analysis：

2012年与2011年的Current Ratios相比，2012年的Current Ratios比2011年的Current Ratios下降了0.07，从2011年的1.94:1下降到了1.87:1. Generally speaking a healthy current ratio is at least 2:1. Where the ratio is less than 2:1 this indicates the business may be over trading and have difficulty in meeting its short-term debts.造成Current Ratios下降的原因是该企业的Current Liabilities 增加了，从2011年的?7800000增加到了?10000000，2012年比2011年的Current Liabilities增加了?2200000。由于2012年Current Liabilities增加了导致了Current Ratios不能够达到2:1，从而导致了2012年的还款能力下降了。

As for current ration, it decreases by 0.07% in 2012 compared with that in 2011. Specifically, it decreases from 1.94:1 in 2011 to 1.87:1 in 2012………………………………………….. The reasons for the decrease of current ration is the increase of current liabilities of the enterprise, which increases from ?7,800,000 in 2011 to ? 10,000,000 in 2012, with the net increase of ? 22,000,000. Due to the increase of current liabilities, the current rations cannot reach to 2:1, which leads to the falling payment ability.

4. Fixed Asset Turnover

Analysis：

2011年的Fixed Asset Turnover是1.29 times，2012年的Fixed Asset Turnover是1.32 times，2012年比2011年增加了0.03 times. 说明该企业2012年在管理和使用Fixed Asset的效率变强了。It indicates that either the existing fixed assets are generating more sales or that investment in new fixed assets gas paid off. And it indicates that is a good sign.

Fixes Asset Turnover in 2011 is 1.29 times while it is 1.32 times in 2012. In other words, it increases by 0.03 times, which can indicate that the efficiency in managing and using the fixed asset has become stronger.

5. Debtors Collection Period

Analysis：

从上面算出的数字可以看出，该企业2012年的Debtors Collection Period比2011年的Debtors Collection Period时间变长了，从2011年的149.75days延长到了161.03 days,2012年比2011年的Debtors Collection Period延长了11.55 days。说明了该企业在管理应收货款方面的效率变差了。造成这种情况的原因：首先，由于圣诞节的来到，所以该企业采用了促销等营销手段增加销售额，并且为顾客提供了延期付款的销售手段，从而导致了付款期延长。第二，可能是因为该企业的提醒顾客还款设备不完善，并且相关管理人员管理的也不到位，不能够及时的提醒顾客还款。第三，还可能因为该企业对顾客的信用水平和信誉度上古测得不够准确。从而导致Debtors Collection Period时间较长。

From the figures above, we can see that debtors collection period has been longer in 2012 than that in 2011. Specifically speaking, it expands from 149.75 days in 2011 to 161.03 days in 2012, with the increase of 11.55 days, which shows that the efficiency in managing sales payments has become lower. There are several reasons for this. First of all, with Christmas Festival, the enterprise adopts promotions to increase sales revenue and provides the customers postponed payment with the result of a longer debtors collection period. Second, the related devices to remind the customers of payment are not perfect and the administration is also inadequate, so the enterprise cannot remind the customers of payment for the sales in time. Third, the enterprise has a rough rather than accurate predication of the customers’ credit and reputation. That’s why the debtors collection period has become longer.

6. Creditors Payment Period

Analysis：

从该数据可以看出，2012年的Creditors Payment Period比2011年的Creditors Payment Period的时间增长了，2012年的Creditors Payment Period比2011年的Creditors Payment Period增加了44.52 days。说明该企业在应交付款方面的时间限制越来越长，同时说明了该企业在管理应付款乱向上的能力和效率更高了，与供应商的关系更好了

From the figures, we can see creditors payment period in 2012 has been expanded than that in 2011, with the net increase of 44.52 days. It can show that the restriction period is becoming longer and longer in creditors payment. Meanwhile, it indicates that the efficiency in managing creditors payment has been enhanced and the enterprise has a better relationship with its suppliers.

7. Interest Structure Ratios

Analysis：

2011年的Interest Structure Ratios为5.38 times，2012年的Interest Structure Ratios 为3.88 times，2012年比2011年Interest Structure Ratios下降了1.50times。该指标变弱是一件坏事。Ideally, interest cover should be no less than 3 times, 所以总体

来说该企业这两年Interest Structure Ratios是比较好的。It explains a higher figure is a good sign as is shows the company is more able to meet its interest payment. 但是2012年的Interest Structure Ratios与2011年相比是处于变弱的状态。因此说明了该企业投资回报率变差了。其原因为Net Profit下降了，the Net Profit After Tax is ?2600000 in 2011 and the Net Profit After Tax is ?1700000 in 2012, 2012年比2011年Net Profit After Tax 下降了?900000，因此导致了2012年Interest Structure Ratios下降。

Interest structure ratio in 2011 is 5.38 times while it is 3.88 times in 2012, which can show that it decreases by 1.50 times in 2012 compared with that in 2011. It is unsatisfying to be lower in the ratio. …………..Therefore, generally speaking, the interest structure ratios in the enterprise is relatively satisfying.

However, the interest structure rations is lower in 2012 than that in 2011, which shows that the investment return rate has become lower because of the decrease of net profit.

Net profit after tax in 2012 decreases by ? 900,000 than that in 2011, which causes the decreasing interest structure ratios.

8. Stock Turnover

Analysis：

Stock Turnover is 8.47 times in 2011 and Stock Turnover is 7.94 times in 2012. 2012年的Stock Turnover 比2011年的Stock Turnover 变少了，2012年比2011年减少了0.53 time. 说明2012年的Stock Turnover比2011的Stock Turnover变差了，也说明该企业在管理库存的效率变弱了。造成这种情况的原因可能是仓库商品搭配不协调，也可能是因为该企业使用了不太合理的purchasing policy政策，比如：一次性采购数量过多等。但更重要的是因为overstocking(库存量增加)，从2011年的?1500000增加到了?1800000。由于以上原因最终导致了Stock Turnover下降。The stock turnover in 2012 is less than that in 2011, with the net decrease of 0.53 times, which shows that the stock turnover in poorer than that in 2011/ A the same time, it indicates that the efficiency in managing the stock is weaker. Possible reasons are as follows. On the one hand, the products matches are not in coordination, On the other hand, the enterprise adopts improper purchasing policies. For example, the enterprise purchases the products so much at a time. More important, that is because of the increasing stock, which increases from ?18,000,000 to 15,000,000 in 2011. Due to the reasons above, the stock turnover begins to fall down.