What Is Ratio Analysis and it's importance ? The limitations of Ratio Analysis and it's Types with formulas?

अनुपात विश्लेषण भनेको के हो ? यसको महत्व, अनुपात विश्लेषणको सीमितता र यसका प्रकार सूत्रहरू सहित व्याख्या गर्नुहोस्?

Ratio Analysis अनुपात विश्लेषण

Ratio analysis is a process of determining relationship between two figure i.e figure of financial statement and interpreting numerical relationship expressed in mathematically.

अनुपात विश्लेषण दुई आकृति बीचको सम्बन्ध निर्धारण गर्ने प्रक्रिया हो। यो वित्तीय विवरण र संख्यात्मक सम्बन्धको व्याख्या गर्ने आकृति पनि हो l

Importance of ratio analysis:

1)It helps in analysis of financial statements.

वित्तीय विवरणमा यसले विश्लेषण गर्न मद्दत गर्दछ l

2)It helps in analysis of operation Efficiency of the Firms.

कम्पनीहरुको सञ्चालन दक्षतामा यसले विश्लेषण गर्न मद्दत गर्दछ l

3)Helps in understanding the profitability of the company. कम्पनीको नाफा बुझ्न मद्दत गर्दछ l

4)It helps in identify the financial risks of the company.

यसले कम्पनीको वित्तीय जोखिम पहिचान गर्न मद्दत गर्दछ l

5)It helps for planning and future forecasting of the firm.

यसले फर्मको योजना र भविष्य पूर्वानुमानको लागि मद्दत गर्दछ l

limitations of Ratio Analysis:

1)Ratio analysis is historical information-it is based on facts contained in financial statement.

अनुपात विश्लेषण ऐतिहासिक जानकारी हो- यो वित्तीय विवरणमा समावेश तथ्यमा आधारित छ l

2) In Ratio analysis accounting process of different companies may have different policies for recording the same transactions.

अनुपात विश्लेषणमा विभिन्न कम्पनीहरूको लेखा प्रक्रियामा एउटै कारोबार रेकर्ड गर्नको लागि विभिन्न नीतिहरू हुन सक्छन् l

3)Qualitative factors are ignored in the Ratio analysis . Ratio are not capable of considering qualitative factors.

अनुपात विश्लेषणमा गुणात्मक कारकहरूलाई बेवास्ता गरिएको छ। अनुपात गुणात्मक कारक तत्व विचार गर्न सक्षम छैनन्।

4)Ratio analysis does not measures the human element of a firm.

अनुपात विश्लेषणले कम्पनीको मानव तत्वलाई मापन गर्दैन l

5)In Ratio analysis it can be difficult to ascertain the reason for the results of a ratio.

अनुपातको विश्लेषणमा अनुपातको परिणामको कारण निश्चित गर्न गाह्रो हुन सक्छ l

Types of Ratio Analysis with formulas :

1)Liquidity Ratio: तरलता अनुपात

It measures a company’s liquidity position, ability to pay debt obligation and short term solvency. It shows relation of firms cash and other current assets and current liabilities.

यसले कम्पनीको तरलता स्थिति, ऋण तिर्न सक्ने क्षमता र छोटो अवधिको समाधानको मापन गर्दछ। यसमा फर्महरूको नगद र अन्य चालू सम्पत्ति र हालको दायित्वको सम्बन्ध देखिन्छ।

a. Current Ratio = Current assets/Current liabilities

b. Quick Ratio=Quick asset/Current liabilities

c. Current Assets = Cash and Cash Equivalents + Accounts Receivables + Inventory + Marketable Securities + Prepaid Expenses + Other Liquid Assets

d. Current liabilities= Notes payable + Accounts payable + Accrued expenses + Unearned revenue + Current portion of long term debt + other short term debt.

e. Quick Assets= Current Assets – Inventory

2) Leverage Ratio: लेभरेज अनुपात

It is any one of several financial measurements which shows the long term liquidity of firm that assesses the ability of a company to meet its financial obligation. It can be measured by following ratio.

धेरै वित्तीय मापन मध्ये एउटा यो पनि हो जसले फर्मको दीर्घकालीन तरलता देखाउँछ जसले आफ्नो वित्तीय बाध्यता पूरा गर्न कम्पनीको क्षमता आकलन गर्दछ। यसलाई अनुपात अपनाएर मापन गर्न सकिन्छ ।

a) Debt Equity Ratio=Long term debts/Shareholder’s Equity or Total Debt/Shareholder’s Equity.

b) Debt to Total Capital Ratio=Long Term Debt/Capital employed Or Total Debt/Capital employed.

3) Capital Structure Ratio: पूँजी संरचना अनुपात

Capital structure can be a mixture of a company's long-term debt, short-term debt, common stock, and preferred stock which consists of a combination of debt and equity.

पूँजी संरचना भनेको कम्पनीको दीर्घकालीन कर्जा, अल्पकालीन कर्जा, साझा मौज्दात र रुचाइएको स्टकको मिश्रण हुन सक्छ जसमा कर्जा र इक्विटीको समिश्रण हुन्छ ।

a) Inventory Turnover Ratio=Cost of goods sold/Average Inventory or Sales/Closing Inventory

b) Debtors Turnover Ratio= Credit Sales/ Average debtors

c) Average Collection Periods= Days in a year/ Debtors Turnover Ratio

d) Fixed Assets turnover Ratio=Sales/Fixed Assets

e) Total Assets Turnover Ratio= Sales/Total Assets

4) Profitability Ratio: नाफाको अनुपात

Profitability ratios assess a company's ability to earn profits from its sales or operations to the financial performance of the business.

नाफा अनुपातले कम्पनीको बिक्री वा सञ्चालनबाट व्यवसायको वित्तीय कार्यसम्पादनसम्म नाफा कमाउने क्षमता आकलन गर्दछ ।

a) Gross profit margin=Gross profit/sales×100%

b) Net profit margin= Net profit/Sales×100%

c) Return on shareholder –fund equity= Net profit after tax/ Share holder fund equity ×100%

d) Return on Assets= Net profit after tax+ Interest/Total Assets×100%

e) Return capital Employed=Net profit after tax/Capital employed×100%

5) Earning Performance:

a) Earning Per Share= Net profit after tax – Performance dividend/no. of equity share

b) Dividend Per Share=Dividend paid to Equity shareholder/No. of Equity share

Abhijeet Anand

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