财务报表分析盈利性_外文资料翻译.docx

译文（字数 3230）：

财务报表分析以及如何体现盈利性、发展性和价格与账面价值的价值比率

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

外文原文（字符数 10415）：

PRICE-TO-BOOK RATIOS

1 FINANCIAL STATEMENT ANALYSIS OF EVERAGE

The following inimical statement analysis separates the effects of enhancing liabilities and operating liabilities on the portability of shareholders’ equity. The analysis yields explicit leveraging equations from which the specifications 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.