译文（字数 3547）

A.财务比率

我们需要使用财务比率来分析财务报表，比较财务报表的分析方法不能真正有效的得出想要的结果，除非采取的是研究在报表中项目与项目之间关系的形式。例如，只是知道史密斯公司在一个特定的日期中拥有100美元的现金余额，对我们是没有多大价值的。但是，假如我们知道，这种余额在这种平衡中有4﹪的流动负债，而一年前的现金余额有25﹪的流动负债。由于银行家对公司通常要求现金余额保持在银行信用度的20﹪，不管使用或不使用，如果公司的财务状况出现问题，我们可以立即发现。

我们可以对比比较财务报表中的项目，作出如下结论： 

外文原文（字符数 11088）

ANALYSIS OF FINANCIAL STATEMENTS

A.The Financial Ratios

企业的产生、生存及发展均离不开与融资活动。 We need to use financial ratios in analyzing financial .The analysis of   comparative financial statements cannot be made really effective unless it     takes the form of a study of relationships between items in the statements. It is of little value, for example, to know that, on a given date, the Smith    Company has a cash balance of $1oooo. But suppose we know that this      balance is only -IV per cent of all current liabilities whereas a year ago cash was 25 per cent of all current liabilities. Since the bankers for the company  usually require a cash balance against bank lines, used or unused, of 20 per  cent, we can see at once that the firm's cash condition is exhibiting a        questionable tendency.

We may make comparisons between items in the comparative financial   statements as follows:

1. Between items in the comparative balance sheet 

a) Between items in the balance sheet for one date, e.g., cash may be   compared with current liabilities 

b) Between an item in the balance sheet for one date and the same item in the balance sheet for another date, e.g., cash today may be compared with cash a year ago 

c) Of ratios,or mathematical proportions, between two items in the balance sheet for one date and a like ratio in the balance sheet for another date, e.g., the ratio of cash to current liabilities today may be compared with a like    ratio a year ago and the trend of cash condition noted