【Abstract】 Agriculture is the basis of national economy, and agricultural development plays an essential role in China. Meanwhile, accelerating agricultural development cannot be carried out without company operation characterized by modern enterprise system in the socialist marketing economy system. Chinese listed companies are the group with good assets, advanced management structure and transparent financial regulations among all enterprises in China. Furthermore, agricultural listed companies, as the representative of the advanced agricultural productivity, play a significant role in industrializing agriculture, improving the quality of agricultural products and operating efficiency, adjusting agricultural industrial structure, improving international competitiveness of agriculture and accelerating agricultural modernization. With the booming of national and agricultural economy, more and more agricultural enterprises of all kinds are emerging. Until the end of 2008, 48 agricultural companies present in China’s stock market.In this thesis, we study financial situation of agricultural industry of agricultural listed companies. Firstly, we select 14 composite indexes reflecting enterprise performance and analyze companies’financial statements from profitability, operating capacity, solvency and development capacity, based on the published statistics from 2006 to 2008 annual report. Secondly, we study financial situation of agricultural industry and the various sub-sectors of agriculture class. Finally, we explore the advantages and disadvantages of agricultural listed companies, identify financial problems, and propose the development of countermeasures and suggestions. In our study, we follow the regulation of CSRC and select 42 agricultural listed companies, and then divided them into four categories: the agriculture, the forestry, the animal husbandry and fishery, and food processing industry.This thesis with five chapters is organized as follows: Firstly, We introduce the research background, purpose and status in domestic and abroad in Chapter 1. Secondly, we review the development of agricultural listed companies, focusing on their characters, developing histories and regional distribution in Chapter 2. Thirdly, we introduce the theory of financial statement analysis, including their basic content and method in Chapter 3. Fourthly, we comparatively analyze the financial statements of agricultural public companies in Chapter 4. We analyze and assess key financial indicators of agricultural listed companies such as profitability, solvency, operating capacity, development capacity. Then, we comparatively analyze the financial conditions of each subsidiary industry among these companies. Finally, we point out the current financial problems and provide several suggestions in Chapter 5. We analyze the current financial problems and their causes, and propose suitable measures to enterprises financial management.By analyzing the financial condition in the years from 2006 to 2008, we obtain several problems of Chinese agricultural listed companies, such as small-scale assets, low net assets income rate, low short-term solvency, low operating capacity, low development capacity, significant decline and uneven development between the plates. Therefore, we proposed corresponding tactics of financial management as follows: 1) Actively developing core business, 2) Correctly handling the relationship between agricultural and non-agricultural businesses, 3) Improving financial risk management of agricultural listed companies, 4) Improving strategic awareness of capital structure management, 5) Accelerating personnel training and propelling the process of technology transformation
Title: Analyze and Compare Financial Statements of Agricultural Listed CompaniesCategory: Agriculture economics
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RURAL development officials – including the province’s head of department – were sent packing with a flea in the ear by the Bhisho Legislature oversight committee when the department failed to produce political and financial overviews in its annual report presentation.
The committee expected to get answers about the Auditor-general’s (AG) findings on the department’s finances, including unauthorised and irregular expenditure of R58-million and its failure to spend R54m of its budget for farmer support and development and agricultural training.
The department received a qualified report for the previous financial year ending March 2011. This means the AG found instances where the department did not comply with generally accepted accounting principles.
However, the rest of its financial statements were fairly presented and accurate.
Agriculture superintendentgeneral Glen Thomas and his senior managers bore the brunt of the committee’s annoyance at the absence of MEC Zoleka Capa and the department’s chief financial officer (CFO) Lumka Sibanyoni.
The fact that Thomas, a former national director-general for agriculture, also did not have a written departmental overview only fuelled the committee’s anger.
Livid committee members ordered the department out of the meeting, which was held at the legislature on Tuesday.
Department spokesman Ayabulela Ngoqo had not responded to questions about the incident at the time of going to print.
One committee member said the department should come back better prepared.
UDM committee member Jackson Bici said the meeting could not have continued without the crucial political and financial overviews.
Capa, who was off sick, had sent an apology to the committee, while Thomas was at pains to explain he did not know Sibanyoni’s whereabouts.
“It was the view of the committee that Capa should have sent us something in writing, even if it was to be read by someone else, about the department. We needed an overview,” said Bici.
“Agriculture is important because it brings food to the people, but he (Thomas) just seemed to get everything from his head and had nothing we could hold him to account on. We felt they weren’t prepared for the session so we asked them to go back.”
The DA’S Veliswa Mvenya, who initially raised concerns about the department’s preparedness at the meeting, said she was not happy with how the HOD “thumbsucked” his overview.
“It clearly showed he had not prepared; besides we could not do oversight work without a political overview,” Mvenya said.
MPLS were yesterday unable to comment on the contents of the report, including the AG’S findings, saying they first needed to hear explanations from the department.
The AG’S report said unauthorised expenditure of R16.7m was a result of overspending in administration.
The R40.9m irregular expenditure related to expenditure incurred in contravention of laws and regulations for supply chain management and compensation of employees. — sabelos@dispatch.
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