Research On Financial Analysis Of Film And Television Companies Under The Harvard Analysis Framework

With the rapid development of our country's economy and the constantly improving of Chinese people's,the film and television industry is meeting the unprecedented development opportunities.With the improvement of living standards,people's pursuit of spiritual life is getting higher and higher,and production of movies and TV series is also increasing.The vigorous development brings opportunities as well as chanllenges to Chinese film and television industry.Chinese people's demand for films and television programs become more than before,and the quality of films and television programs is required to be higher and higher.The competition will become more fierce in such a situation for Chinese films and televison industry.As an analytical method,the financial analysis can provide more reference for the development of films and television companies in the future,but these demands expose the limitations of traditional financial analysis methods.The results obtained through traditional financial analysis methods can not be enough for the needs of users of financial statements.Based on the the traditional financial analysis methods,harvard analysis framework which combines the non-financial data through the strategy analysis,accounting analysis,financial analysis and prospect analysis provides a more comprehensive analysis result.It is a further improvement of traditional financial analysis methods.Financial analysis has evolved over the years and has produced a variety of analytical methods.It will be improved better and better over time.From the emergence of the capital market,the importance of accounting information was found by us.Like the principal-agent theory,asymmetric information,many theories have been researched deeper and deeper.The financial analysis is been studied richer and richer.Now with more refined social division of labor,people want to see more unknown information through the financial analysis,and the improvement of the financial analysis method is more important.The introduction of Harvard analysis framework is an exploration of perfect the financial analysis methodThis paper uses ENLIGHT MEDIA as the main research object,bases on Harvard analysis framework to analyze the financial situation and operation of ENLIGHT MEDIA comprehensively,and compare with Huaiyi Brothers Media Corporation and Wanda film corporation.ENLIGHT MEDIA is a representative enterprise in Chinese film and television industry.In this paper,the basic situation of light media is introduced,and the organizational structure and operating conditions of the company are also explained.Then make detailed analysis of ENLIGHT MEDIA.In the specific financial analysis of ENLIGHT MEDIA,I combine with the Harvard analytical framework,and make are four aspects.Firstly,we analyze the position and competitive strategy of ENLIGHT MEDIA in the whole industry through the industry analysis,PEST analysis and SWOT analysis in the part of strategy analysis.In the industry analysis,the industry characteristics and industry environment are analyzed in detail,and the development status and living environment of the whole industry are described in detail.In the strategic analysis,I have expounded on the advantages,disadvantages,opportunities and challenges of ENLIGHT MEDIA.Secondly,we distinguish and analyze ENLIGHT MEDIA's key accounting policies in the part of accounting analysis.According to three companies to disclose information and the characteristics of film and television industry,I select the more critical accounting policies and accounting subjects.For screening out the key accounting policies of the enterprise,I make a detailed analysis of the enterprise's situation.Through the industry comparison,determine the light media quality fit and unfit quality of accounting information.Thirdly I compare these aspects of operational capacity,debt paying ability and profitability and in the part of financial analysis.This part is the traditional method of financial analysis,and the ratio analysis is used to select the corresponding ratio from the aspects of operation capacity,debt paying ability and profitability.Finally,we make the predictions of ENLIGHT MEDIA based on the results before.Through the calculation of the relationship between different financial data,the overall business status of the enterprise was analyzed,and the horizontal comparison with huayi brothers and wanda films was conducted.Through the analysis of the industry,the trend of future industry development is forecasted,and the detailedforecast and analysis are carried out for ENLIGHT MEDIA.At the end of the paper,the paper summarizes the research of the whole thesis,explains the research conclusion,obtains some research inspirations,and finds the shortcomings of this paper.Through the research,we can see the situation of the whole film and television industry in China,which has reference value for users of financial statements.Based on Harvard analysis framework and taked ENLIGHT MEDIA as an example to perform financial analysis,this paper tried and explored to applicate the Harvard analysis framework,and also made a contribution to improving the financial analysis methods.