Instructions on the adjustment of the financial statements of listed steel companies
 
The selected 6 6 steel companies with foreign well-known steel listed company's growth were analyzed. , Six steel companies in China Baosteel, Angang Steel, Wuhan Steel shares, Shandong Iron and Steel, Hebei Iron and Steel, Sha Steel shares, six well-known foreign steel companies are ArcelorMittal, the U.S. Steel, Nucor , Pohang, Korea, ThyssenKrupp, Germany, Japan's Nippon Steel.
 
In this study, the annual financial statements of listed steel company in Japan, Germany have been adjusted. Analysis of Chinese and foreign listed companies operation are facing two problems:
 
First, the countries listed companies' financial annual report of the period differences inconvenient directly from the profit statements of the foreign enterprises to extract value. Chinese steel companies, listed on the American Iron and Steel Company, Pohang, Korea, ArcelorMittal Annual Financial period from January 1 of each year to December 31 that year, Nippon Steel Annual Financial period from March 31, April 1, the first year to second year, the German ThyssenKrupp Annual Financial period from October 1, the first year to second year of September 30. 12 Chinese and foreign steel companies must be in a uniform period of financial performance indicators compared side has the actual effect. In view of the 10 Chinese and foreign steel companies to take full calendar year as a financial year, therefore, this study will be 2011 for the analysis period, while Nippon Steel, ThyssenKrupp's income statement adjustments, summary of the these two businesses in the entire 2011 year, the income statement for the year 2010. In this study, all assets, liabilities, equity, the purpose of data are all enterprises and December 31, 2010, December 31, 2011 balance sheet data.
Second, the financial system of each country are different, can not be a financial indicators were analyzed. For example, in the income statement, operating profit, the expenses for the period, the definition of income are different; in asset management, national standard of depreciation on fixed assets, the types of assets of impairment to differences, which lead to the calculation of the profit difference. To avoid differences in the national financial system, the selection of financial indicators to make use of various countries define the same or similar indicators, to make use of various countries have recognized the applicability and authority of the derivative financial indicators (such as current ratio, etc. ), to the analysis of the differences of Chinese and foreign steel companies grow in the background of a relatively fair.
Based on the above principles, the revenue side, select the operating income (commonly referred to abroad, on net sales) growth rate of this indicator; select the total profit in the profit (commonly referred to abroad to total pretax income) year-on-year growth rate of this indicator; in assets net total assets growth rate is vulnerable to the impact of stock issuance, net asset growth "vulnerable to the impact of bonus shares split, these two indicators are not used in this study, but the Chinese and foreign enterprises in the balance sheet on the definition of total assets is basically the same, so we choose the total assets relative to the beginning of the growth rate of this indicator.
See from the income, profits, assets and foreign steel companies the ability to grow
 
The analysis of the ability to grow is to select the income, profits, assets index composed of the derivative financial indicators, in order to analyze the growth of the pros and cons of different enterprises in the same period, in particular, the assets should be preserved, the value-added the pros and cons.



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