Resumen

NAVA ROSILLON, Marbelis Alejandra. Financial Analysis: A Key Technique for Efficient Financial Management . Revista Venezolana de Gerencia [online]. 2009, vol.14, n.48, pp.606-628. ISSN 1315-9984.

Financial analysis is fundamental to assessing the real economic and financial situation and performance of a company, detecting difficulties and applying suitable correctives to solve them. The objective of this study is to analyze the significance of financial analysis as a key technique for efficient financial management. It is an analytical study with a documentary design based on the theories of Gitman (2003), Van Horne (2003), Brigham and Houston (2006), Elizondo and Altman (2003), among others. Financial analysis is based on estimating financial indicators that show the liquidity, solvency, operative efficiency, debt, yield and profitability of an enterprise. A business with liquidity is considered solvent, but a solvent business does not always have liquidity. Financial analysis based on figures adjusted for inflation provides valid, current, truthful and precise financial information. Conclusions are that financial analysis is a key management and analytic technique for all business activity that determines current financial conditions, the management of available financial resources and that it contributes to predicting the future of the enterprise.

Palabras clave : Financial analysis; enterprise; financial management; financial indicators.