会计英语论文通用电气Word格式文档下载.docx
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会计英语论文通用电气Word格式文档下载.docx
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1.3Corporaterecognitionandrankings4
#7companyforleaders(Fortune)4
#5bestglobalbrand(Interbrand)4
#82greencompany(Newsweek)4
#15mostadmiredcompany(Fortune)4
#19mostinnovativecompany(FastCompany).4
1.4Earningsfromdiscontinuedoperations(netoftaxes):
4
2.2011and2010GeneralElectricCompanyAnnualreportComparativeanalysis4
2.1 FinancialandStrategicHighlights(figure):
(figure1:
Revenues)5
(figure2:
EarningsAttributable)5
3.Analyticalmethods6
3.1Horizontalanalysis:
6
3.1.1Amountofincreaseordecrease;
3.1.2Percentofincreaseordecrease.:
3.2Verticalanalysis——BalanceSheet:
7
3.2.1Eachassetitemisstatedasapercentoftotalassets.7
3.2.2Percentofthetotalliabilitiesandstockholders'
equity.7
3.2Solvencyanalysis——Theratios8
3.2.1Currentpositionanalysis:
Workingcapital,Workingratio,Quickratio.8
3.2.2Accountsreceivable、Inventoryanalysis9
3.2.3RatioofFixedAssetstoLong-TermLiabilities、RatioofLiabilitiestoStockholders'
Equity10
4.Summarize:
10
4.1Research&
development10
4.2Citizenship11
4.3EnhancingCustomerValue11
Reference:
11
GeneralElectricCompany(NYSE:
GE),orGE,isanAmericanmultinationalconglomeratecorporationincorporatedinSchenectady,NewYorkandheadquarteredinFairfield,Connecticut,UnitedStates.GE'
sdivisionsincludeGECapital,GEEnergy,GETechnologyInfrastructure,andGEHome&
BusinessSolutions.ThispaperfocusesontheGeneralCompanyfinancialstatementsanalysis,deriveddata.
AnnualReportAnalysis
1.1GeneralElectricCompanyBriefIntroduction:
GE),orGE,isanAmericanmultinationalconglomeratecorporationincorporatedinSchenectady,NewYorkandheadquarteredinFairfield,Connecticut,UnitedStates.[1]Thecompanyoperatesthroughfoursegments:
Energy,TechnologyInfrastructure,CapitalFinanceandConsumer&
Industrial.In1896,GeneralElectricwasoneoftheoriginal12companieslistedonthenewlyformedDowJonesIndustrialAverageandstillremainsafter116years,theonlyoneremainingontheDowindex.GeneralElectrichashowevernotbeenontheDOWcontinuously.[2]NewYork.In1911theNationalElectricLampAssociation(NELA)wasabsorbedintoGeneralElectric'
sexistinglightingbusiness.GEthenestablisheditslightingdivisionheadquartersatNelaParkinEastCleveland,Ohio.NelaParkisstilltheheadquartersforGE'
slightingbusiness.
BusinessSolutions.
Throughthesebusinesses,GEparticipatesinawidevarietyofmarketsincludingthegeneration,transmissionanddistributionofelectricity(e.g.nuclear,gasandsolar),lighting,industrialautomation,medicalimagingequipment,motors,railwaylocomotives,aircraftjetengines,andaviationservices.Itco-ownsNBCUniversalwithComcast.ThroughGECommercialFinance,GEConsumerFinance,GEEquipmentServices,andGEInsuranceitoffersarangeoffinancialservicesaswell.Ithasapresenceinover100countries.
GEalsoproducesGeneralImagingdigitalcameras.[3]In2010,GeneralImagingreleasedtheBridgeCameraGEX5with14MPand15xopticalzoom.[4]In2011,itisreplacedby16MPGEX500withoptionalredcolorinJapanbesidestraditionalblackorwhitecolorinworldwide.[5]
SinceoverhalfofGE'
srevenueisderivedfromfinancialservices,itisarguablyafinancialcompanywithamanufacturingarm.ItisalsooneofthelargestlendersincountriesotherthantheUnitedStates,suchasJapan.Eventhoughthefirstwaveofconglomerates(suchasITTCorporation,Ling-Temco-Vought,Tenneco,etc.)fellbythewaysidebythemid-1980s,inthelate1990s,anotherwave(consistingofWestinghouse,Tyco,andothers)triedandfailedtoemulateGE'
ssuccess.
ItwasannouncedonMay4,2008thatGEwouldauctionoffitsappliancesbusinessforanexpectedsaleof$5–8billion.[6]However,thisplanfellthroughasaresultoftherecession.
1.3Corporaterecognitionandrankings:
In2011,FortunerankedGEthe6thlargestfirmintheU.S.,[7]aswellasthe14thmostprofitable.[8]Otherrankingsfor2011/2012includethefollowing:
[9]
#7companyforleaders(Fortune)
#5bestglobalbrand(Interbrand)
#82greencompany(Newsweek)
#15mostadmiredcompany(Fortune)
#19mostinnovativecompany(FastCompany).
DISCONTINUEDOPERATIONS
(Inmillions)
2011
2010
2009
Earnings(loss)fromdiscontinued
operations,netoftaxes
$77
($873)
$219
2.2011and2010GeneralElectricCompanyAnnualreportComparativeanalysis
Revenues)
(figure2:
EarningsAttributable)
(figure3:
CashFlowFromOperatingActivitiesCFOA)
Auditresolutions—effectonGE
taxrate,excludingGECSearnings
———————————————————————————
201120102009
Taxonglobalactivities
includingexports(0.9)%(3.3)%(0.4)%
U.S.businesscredits(0.4)(0.5)—
Allother—net(0.7)(0.8)(0.2)
——————————————(2.0)%(4.6)%(0.6)%
(FORM1:
Auditresolutions—effectonGEtaxrate)
3.Analyticalmethods:
Usersanalyzeacompany'
sfinancialstatementsusingavarietyofanalyticalmethods.
Thepercentageanalysisofincreasesanddecreasesinrelateditemsincomparativefinancialiscalledhorizontalanalysis.Eachitemonthemostrecentstatementiscomparedwiththerelateditemononeormoreearlierstatementsintermsofthefollowings:
3.1.2Percentofincreaseordecrease.Asthefollowfigure4shows,Thefirstthreecolumnsarethecompany'
sdata,behindthetwocolumnisthehorizontalanalysisbetweenGE2010operatingresultsand2011operatingresults:
PeriodEnding
30/Dec/2011
30/Dec/2010
Increase(Decrease)
Allnumbersinthousands
AmountPercent
Assets
CurrentAssets
CashAndCashEquivalents
84,501,000
78,943,000
5558000
7%
ShortTermInvestments
47,374,000
43,938,000
3436000
8%
NetReceivables
307,470,000
329,204,000
(21734000)
-7%
Inventory
13,792,000
11,526,000
2266000
20%
TotalCurrentAssets
453,137,000
463,611,000
(10474000)
-2%
PropertyPlantandEquipment
66,450,000
103,099,000
(36649000)
-36%
Goodwill
72,625,000
64,388,000
8237000
13%
IntangibleAssets
12,068,000
9,971,000
2097000
21%
OtherAssets
112,962,000
106,724,000
6238000
6%
TotalAssets
717,242,000
747,793,000
(30551000)
-4%
Liabilities
CurrentLiabilities
AccountsPayable
58,373,000
56,943,000
1430000
3%
Short/CurrentLongTermDebt
166,869,000
147,977,000
18892000
OtherCurrentLiabilities
59,891,000
67,328,000
(7437000)
-11%
TotalCurrentLiabilities
285,133,000
272,248,000
12885000
5%
LongTermDebt
243,459,000
293,323,000
(49864000)
-17%
OtherLiabilities
70,647,000
55,271,000
15376000
28%
DeferredLongTermLiabilityCharges
-131,000
2,753,000
(2884000)
-105%
MinorityInterest
1,696,000
5,262,000
(3566000)
-68%
TotalLiabilities
600,804,000
628,857,000
(28053000)
Stockholders'
Equity
CommonStock
702,000
0
0%
RetainedEarnings
137,786,000
131,137,000
6649000
TreasuryStock
-31,769,000
-31,938,000
169000
-1%
CapitalSurplus
-
OtherStockholderEquity
9,719,000
19,035,000
(9316000)
-49%
TotalStockholderEquity
116,438,000
118,936,000
(2498000)
NetTangibleAssets
31,745,000
44,577,000
(12832000)
-29%
(figure4:
horizontalanalysis.NOTE:
Tabulardatais0hasbeenabridged)
Thepercentageanalysisofeachcomponentinfinancialstatementtoatotalwithinthestatementiscalledverticalanalysis.Althoughverticalanalysisisappliedtoasinglestatement,itmaybeappliedonthesamestatementovertime.Thisenhancestheanalysisbyshowingthepercentageofeachitemhavechangedovertime.Thepercentagearecomputedas:
3.2.1Eachassetitemisstatedasapercentoftotalassets.
3.2.2Eachliabilityandstockholders'
equityitemisstatedasapercentofthetotalliabilitiesandstockholders'
equity.
Amount
Percent
11.78%
10.56%
6.61%
5.88%
42.87%
44.02%
1.92%
1.54%
63.18%
62.00%
9.26%
13.79%
10.13%
8.61%
1.68%
1.33%
15.75%
14.27%
100.00%
8.14%
7.61%
23.27%
19.79%
8.35%
9.00%
39.75%
36.41%
33.94%
39.23%
9.85%
7.39%
DeferredLongTermLiability
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