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房地产企业财务风险识别及防范研究--以A公司为例摘要近年来，我国市场经济发展迅速，社会消费结构发生了很大调整，人们在商品房方面表现出了越来越大的需求，而房地产业具有产业关联度较强和带动能力较大等优势，已经成为我国国民经济中的一大支柱产业。在房地产行业迅猛发展的同时，其作为资金密集型行业的一种，在我国起步的时间不长，相对来说根基十分薄弱，行业规范化程度低，房地产投资存在上下产业链长，专业性强，投资额大，投资周期长，不确定性和风险程度高，受宏观政策调控影响较大的特点，这些特点决定了我国的房地产行业面临着一定的财务风险，财务风险受企业内外部因素的共同影响。现阶段，国际经济形势变化多端，而我国的行业政策调控力度也不断极大，金融政策相对收紧，对于房地产企业来说，其不得不解决的一个紧迫而现实的问题就是防范财务风险。对于房地产企业来说，其面临的财务风险主要包括筹资风险、投资风险、资金回收风险和收益分配风险四种类型，并且具有综合性、客观性、不确定性、双重性和激励性等特征。财务风险一旦爆发，势必会对房地产企业的经营管理产生十分严重的影响，甚至会导致房地产企业的破产和倒闭。因此，房地产企业应该提高自身的财务风险识别与防范能力，从而提高其管理水平，提升经济效益，促进我国房地产行业的长远发展。本文采用理论和实例相结合的方法，从国内外研究现状出发，总结了前人在财务风险的识别与防范上的研究成果，在此基础上进行了房地产企业财务风险的识别与防范研究，首先阐述了房地产企业财务风险识别与防范理论基础，介绍了财务风险的概念及特征，并阐述了、权衡理论、投资组合理论和现代财务管理理论；其次分析了房地产企业财务风险类型及影响因素，其中，房地产企业财务风险类型主要有、房地产企业筹资风险、房地产企业投资风险、房地产企业资金回收风险和房地产企业收益分配风险；第三，讨论房地产企业财务风险识别与防范，介绍了定性、定量两种分析方法，并针对筹资风险和投资风险进行了识别，最后提出了四种风险相应的防范措施；第四，以在行业里具有代表性的A公司为例，分析了A公司面临的财务风险，具体分析了其短期偿债能力、长期偿债能力、营运能力、盈利能力、发展能力和现金流量，其次，指出了A公司风险识别的方法及财务风险防范措施，最后，提出了完善A公司财务风险识别与防范体系的建议，即完善财务风险识别体系、筹资风险防范、投资风险防范、资金回收风险防范和制定收益分配政策，希望对给其他公司的财务风险识别与防范提供一定的借鉴作用。关键词：房地产企业财务风险识别防范AbstractInrecentyears,ourcountryandtherapiddevelopmentofmarketeconomy,greathavetakenplaceinthesocialconsumptionstructureadjustment,theyshowedmoreandmoreintermsofcommercialhousingdemand,industrialcorrelativenessdegreeandtherealestateindustryhastheadvantagesofthestrongabilityandstimulatethedevelopmentoflarge,hasbecomeoneofthepillarsoftheindustryofthenationaleconomy.Intherapiddevelopmentofrealestateindustryatthesametime,itasakindofcapitalintensiveindustry,startingtimeisnotlonginChina,thefoundationisveryweak,relativelylowdegreeofindustrystandardization,realestateinvestmentisupanddowntheindustrialchainislong,stronglyprofessional,largeinvestment,longinvestmentperiod,highdegreeofuncertaintyandrisk,andgreatlyinfluencedbythemacroscopicpolicy,thecharacteristicsofthesecharacteristicsdeterminetherealestateindustryinourcountryisfacingacertainfinancialrisk,financialriskisSharedbytheenterpriseinternalandexternalfactorsinfluence.Atpresent,theinternationaleconomicsituationischanging,butourcountry'sindustryhasbeengreatly,adjustingcontrolpolicyrelativetotightenmonetarypolicy,forrealestateenterprises,ithadtosolveapressingandrealisticproblemsistoguardagainstfinancialrisks.Forrealestateenterprises,thefinancialriskmainlyincludesfinancingrisk,investmentrisk,capitalrecoveryriskandincomedistributionriskfourtypes,andacomprehensiveandobjectivity,uncertainty,dualityandincentive,etc.Characteristics.Oncetheoutbreakoffinancialrisks,isboundtoaseriousimpactontherealestateenterprisemanagement,andevenleadtobankruptcyandthecollapseofrealestateenterprises.Therefore,thefinancialriskoftherealestateenterprisesshouldimprovetheirrecognitionandpreventionability,thusimprovethemanagementlevel,enhanceeconomicefficiency,promotethelong-termdevelopmentoftherealestateindustryinourcountry.Thisarticleadoptsthemethodofcombinationoftheoryandexamples,fromthedomesticandforeignresearchpresentsituation,summarizesthepredecessors'researchonfinancialriskidentificationandpreventionoftheresults,onthebasisoftherealestateenterprisefinancialriskidentificationandpreventionresearch,firstexpoundsthetheoreticalbasisforthepreventionofrealestateenterprisefinancialriskidentificationandintroducestheconceptoffinancialriskandcharacteristics,andexpoundsthe,balancetheory,portfoliotheoryandthetheoryofmodernfinancialmanagement;Secondlyanalyzesthetypesandinfluencingfactorsofrealestateenterprisefinancialrisk,amongthem,therealestateenterprisefinancialrisktypeshavemainly,realestateenterprisefinancingrisk,realestateinvestment,realestateenterprisecapitalrecoveryriskandriskofrealestateenterpriseincomedistribution;Third,discusstherealestateenterprisefinancialriskidentificationandprevention,introducestwokindsofqualitativeandquantitativeanalysismethod,andaimsatfinancingriskandinvestmentriskidentification,finallyputsforwardfourkindsofriskofthecorrespondingpreventivemeasures;Fourth,therepresentativeofAcompanyintheindustryasanexample,analyzesthefinancialrisktoAcompany,Adetailedanalysisofitsshort-termsolvency,long-termsolvency,operatingcapacity,profitabilityanddevelopmentabilityandthecashflow,secondly,pointedoutthatAcompanyfinancialriskpreventionmeasuresandmethodsofriskidentification,finally,putsforwardtoperfectAcompany'sfinancialriskidentificationandpreventionsystemsuggestion,namely,improvingthefinancialriskidentificationsystem,financingrisk,investmentrisk,capitalrecoveryriskpreventionandincomedistributionpolicy,andhopetoofferotheridentificationandpreventionoffinancialrisksasAreference.Keywords:realestatecompany，financialrisk，riskidentification，riskprecaution目录摘要......................................................................................................................................................2ABSTRACT............................................................................................................................................3第一章绪论............................................................................................................