[雙語翻譯]財務(wù)管理專業(yè)外文翻譯—波蘭企業(yè)實踐中的財務(wù)流動性與盈利能力管理（原文）

1、Financial Liquidity and Profitability Management in Practice of Polish BusinessKatarzyna GoldmannAbstract From the point of view of companies’ survival strategies, in the short term, financial liquidity plays a more impo

2、rtant role than profitability does. In the case when the company is not profitable in the short term but is characterized by good financial liquidity, it has the potential for further development and for improving its pe

3、rformance. However, in a long-term perspective, profitability is more important because its lack in the long term will result in lacking financial liquidity. Therefore, an important element of company management is makin

4、g a systematic analysis of financial liquidity and profitability, both on the basis of financial statements and on data derived from its accounts. The objective of the article is to present Polish companies’ approach to

5、managing financial liquidity and profitability. The article presents the results of a survey made on the issue. Based on the survey, the extent of the use in making management decisions of the following was determined: l

6、iquidity ratios, working capital and the demand for working capital, analysis of the cash flow statement, and indicators of profitability. The researched entities indicated the extent of usefulness of managing receivable

7、s, liabilities, inventory, and cash in financial liquidity and profitability management.Keywords Financial liquidity management ? Financial liquidity ? Financial liquidity analysis ? Profitability management ? Profitabil

8、ity ? Profitability analysis1 IntroductionAccording to the theory of the market economy, running a business is profit oriented, and the basic measure of the extent of its realization is profitability. Providing financial

9、 liquidity is equally important to gaining profits (Zuba 2010). From the point of view of companies’ survival strategies in the short term, financial liquidity plays a more important role than profitability does. In the

10、case when the company is not profitable in the short term but is characterized by good financial liquidity, it has the potential for further development and for improving itsK. Goldmann (*) Department of Accounting, Nico

11、laus Copernicus University, Torun ´, Poland e-mail: goldmann@econ.umk.pl© Springer International Publishing Switzerland 2017 M.H. Bilgin et al. (eds.), Financial Environment and Business Development, Eurasian S

12、tudies in Business and Economics 4, DOI 10.1007/978-3-319-39919-5_9103Among the surveyed companies, the dominating group were manufacturing companies (58 %), followed by service-providing companies (24 %) and by com- mer

13、cial ones (18 %), presented in Table 1. The vast majority of respondents (87 %) are companies that have been conducting business activity for more than 10 years on international markets (48 %) and national ones (41 %). A

14、lmost half of them are large-(40 %) and medium-sized (39 %) companies.3 Financial Liquidity ManagementPreliminary analysis of the cash flow statement is carried out in three-quarters (76 %) of the surveyed companies, whi

15、le the indicator analysis of cash flow in 69 % of them, which is presented in Table 2. This applies in particular to large manufacturing companies with the time of operating on the market exceeding 10 years and with the

16、international reach. If the analysis is not performed, it is because in the entities examined there is no need to do so, and if it is necessary, then there is no such a person who could conduct this analysis. These are m

17、ainly service- providing companies. Preliminary analysis of the cash flow statement is carried out in the surveyed enterprises more frequently than the indicator analysis of the cash flow statement. However, in the case

18、the indicator analysis of the cash flow statement is carried out,Table 1 Characteristics of companies SpecificationTotalNumber %Overall 228 100Type of business activity conductedaManufacturing company 133 58.33Trading co

19、mpany 40 17.54Service-providing company 55 24.12Time of operating on the marketFrom 1 up to 5 years 10 4.39From 6 up to 10 years 19 8.33More than 10 years 199 87.28Range of operationsLocal 26 11.40National 92 40.35Intern