一、财务预警分析模式和Z-Score模型企业财务预警分析有两种模式,一种是单变量模式,即运用单一变量,用个别财务比率来预测财务危机。按照单变量模式的解释,企业发生财务危机是由长期因素而非短期因素造成的,因此,可以长期跟踪这些比率,注意这些比率的变化,借以观测企业的财务危机。这种模式的不足是:这些单个比率都只反映企业风险程度的一个方面,并且当它们不完全一致时, First, the financial early warning analysis model and the Z-Score model There are two modes of enterprise financial early warning analysis, one is the univariate model, that is, the use of a single variable, with individual financial ratios to predict the financial crisis. According to the univariate model, the financial crises that occur in enterprises are caused by long-term factors rather than short-term factors. Therefore, long-term follow-up of these ratios and changes in these ratios can be used to observe the financial crisis of enterprises. The disadvantage of this model is that each of these individual ratios only reflects one aspect of the degree of risk in the business and when they are not exactly the same,