Category: Money Tips Date: 2006-09-03
主持人：阅读财务报表的一个难点在于，非专业出身的投资者很难理解报表中的一些专业名词? In this issue, we continue to ask senior members of Mr. Zhang Hongji Securities and explain the meaning of these terms. Haidian District, Beijing shareholders Ho: How to understand the income statement of the administrative expenses and financial costs?
Zhang Q: management fees reflects the administration department for organizing and managing production and operation activities occurred in fees and charges. It is actually a comprehensive project, including the company's funds, union funds, staff education funding, business entertainment expenses, stamp duty and other related taxes and so forth.
Financial cost is the production and operation enterprises to raise funds needed for reasons such as costs incurred, including the net interest expenses (less interest income), exchange losses (less exchange gains), and related procedures. Finance costs are based on cost items set details the accounts for the accounting details.
As we can see the financial statements, management fees, finance is just the sum of these items above, ordinary investors can not see the details of them. Here, readers can not help asking, in case of listed companies want to adjust the administrative expenses and financial costs to manipulate the results of how to do?
This can only rely on accounting firms to serve us a gatekeeper. The past two years, we often see in the annual report issued by an accounting firm retained observations, often because they see the statements of listed companies, some problems, but listed companies are reluctant to correct, but unfortunately it out with a reservation under financial advice.
Beijing Fengtai District, shareholders Madame Chao: In the allocation table, there is a call to meet preferred dividends, why it is empty?
Zhang Reporter: preferred stock is a stock company to offer, outside the ordinary shares to another form of financing. The so-called "priority" means that such stocks will have to obtain prior to issuance of common stock dividends when finalized. In other words, no matter how the company's operating performance, it has received dividend is fixed. In general, such stocks have no voting rights.
In the law, enacted in 1993, the "Company Law", the right domestic listed companies to issue preferred stock, and no special restrictions. But as far as I know, have not issued preferred stock of domestic precedent, so in the financial statements, this one is empty.
