财务报表分析双语ChapterPPT课件

Chapter1 Slide 1 FINANCIALREPORTINGANALYSIS财务报表分析 Chapter1 Slide 2 1 你是如何理解 双语课程 bilingualteaching 的 2 通过本学期双语课程的学习 你期望得到哪些收获与提高 3 在本学期的学习过程中 你期望从老师那里获得哪些帮助 Chapter1 Slide 3 CourseTitle FinancialReportingAnalysisLecturedBy JinxunTAN 谭津璕 MyEmailAddress tanjinxun CourseObjectives KnowwellaboutfinancialreportingImproveEnglishproficiency 4skillsesp R W Cultivateindependentlearningability Search Research CourseIntroduction Chapter1 Slide 4 CourseRequirements Self learningbeforeeachlecture Learningroup 1chapter week Attentivelisteninginclass Takenotes Activeparticipationinclass Ask answerquestions Goodperformanceonassignments Chapter1 Slide 5 Mainquestions WhyFSanalysisisneededWhoneedFSInformationavailabletousers Chapter1 Slide 6 WhyFSanalysisisneeded InformationasymmetryisthefoundationofaccountingtheoryandFSanalysiswhichcauses AdverseselectionMoralhazard Chapter1 Slide 7 Financialstatementsdon tfullyreflectfirm strueeconomicpositionbecause Accountingrecognitionandmeasurementdon tcorrespondwitheconomicevents Financialstatementsdon treflectthewholeeconomicevents assets liabilities Managementchoiceofaccountingmethods Accountingprinciplesdifferindifferentcountry Chapter1 Slide 8 WhoneedFS CreditorsandequityinvestorsGovernment executiveandlegislativebranches regulatorybodies andtaxauthoritiesThegeneralpublicandspecialinterestgroups laborunions suppliersandcostumer Chapter1 Slide 9 Equityinvestorsandcreditorsaretheprimaryusers Hence financialaccountingstandardsaregearedtothepurposesandperceptionsofinvestorsandcreditors Chapter1 Slide 10 Informationavailabletousers PrincipalfinancialstatementsOthersourceoffinancialinformationRoleofauditor IntroductiontoFinancialReporting Chapter1 Chapter1 Slide 12 TheU Sfinancialreportingsystem Chapter1 Slide 13 GAAP U SGAAP GenerallyAcceptedAccountingStandards是由会计师协会 APB 和财务会计准则委员会 FASB SEC在 意见书 和 公报 中所规定的会计准则 方法和程序所组成的 企业会计人员记录 汇总会计数据和编制会计报表所必须遵循 也是审计人员审核企业会计报表的依据 Chapter1 Slide 14 DevelopmentofGAAP 1934年美国国会依据 证券交易法 成立证券交易委员会 SEC 授权其进行会计立法 以弥补资本市场会计法规的空白 增强财务报告透明性及相关性 并重建投资者信心 SEC颁布的会计准则分为三类 财务信息披露规则 是会计报表呈报格式及内容的管理条例 财务报告文件 汇集SEC对会计和审计的观点 工作人员会计公告 汇总SEC对 证券法 中披露条款的解释和对披露管理的说明 Chapter1 Slide 15 SecuritiesandExchangeCommission SecuritiesActof1933RegulatesIPOs initialpublicofferings SecuritiesExchangeActof1934RegulatessecondarymarketandnationalexchangesSECwascreatedbythisActSEChastheauthoritytodetermineGAAPRegulationS Xdescribesdisclosurerequirements Chapter1 Slide 16 GAAP GenerallyAcceptedAccountingPrinciples GAAP inUnitedStatesMajorSourcesofGAAPSecuritiesandExchangeCommission SEC AmericanInstituteofCertifiedPublicAccountants AICPA FinancialAccountingStandardsBoard FASB Chapter1 Slide 17 AICPA sRoleinGAAP Chapter1 Slide 18 TheFASB TheFASBisanongovernmentalbody 非政府组织或机构 withsevenfull timemembers Theboardsetsaccountingstandards 制定会计准则 forallcompaniesissuingauditedfinancialstatement TheFASBisanindependentbody 独立机构 whosemembersarerequiredtosever 断绝 alltieswithpreviousemployers Chapter1 Slide 19 TheFASB FinancialAccountingStandardsBoardPromulgatesGAAPSFASs StatementsofFinancialAccountingStandardsInterpretationsofSFASs APBOs andARBsTechnicalBulletinsStatementofFinancialAccountingConceptsConceptualFrameworkStatementsofAccountingConcepts notGAAP Chapter1 Slide 20 FASBStructure Exhibit1 1 Chapter1 Slide 21 FASBorganizationalstructure Chapter1 Slide 22 FASBOperatingProcedure TopicisaddedtothetechnicalagendaPubliccommentssolicited 征求意见 DiscussionMemorandum 备忘录 InvitationtoCommentHoldshearingtoreviewcommentsIssuesExposureDraft Chapter1 Slide 23 FASBConceptualFramework AsystemofinterrelatedobjectivesandunderlyingconceptsServesasthebasisforevaluatingexistingstandardsoffinancialaccountingandreportingSFACsStatementsofFinancialAccountingConcepts Chapter1 Slide 24 ObjectivesofFinancialReporting SFAC1 ProvideinformationusefulinmakingbusinessandeconomicdecisionsInformationiscomprehensible 可理解性的 tothosehavingareasonableunderstandingofbusinessandeconomicactivitiesHelpsuserstoassessfuturecashflowsPrimaryfocusisearningsanditscomponentsInformationisprovidedabouteconomicresourcesandtheclaimsagainstthoseresources Chapter1 Slide 25 AHierarchy 分层 ofAccountingQualities Source QualitativeCharacteristicsofAccountingInformation AdaptedfromFigure1inFASBStatementofFinancialAccountingConceptsNo 2 Stamford Conn FinancialAccountingStandardsBoard 1980 Exhibit1 2 Chapter1 Slide 26 ElementsofFinancialStatements SFAC6 AssetsProbablefutureeconomicbenefitsobtainedorcontrolled theresultofpastbusinesstransactionsLiabilitiesObligationstotransferassetsorprovideservicesinthefuture theresultofpastbusinesstransactionsEquityTheowner sresidualinterestintheassetsafterdeductingliabilities Chapter1 Slide 27 ElementsofFinancialStatements SFAC6 con t InvestmentsbyownersIncreasesinequityduetotransfersofvalueforthepurposeofobtainingorincreasingownershipDistributiontoownersDecreaseinequityresultingfromtransferofasset renderingofservice orincurrenceofliabilitiesbytheentitytoownersComprehensiveincomeThechangeinequityduringaperiodduetononownertransactions events andcircumstances Chapter1 Slide 28 ElementsofFinancialStatements SFAC6 con t RevenuesInflowsandotherenhancementsofrevenueorreductionsofliabilitiesfromdeliveringorprovidinggoodsorservicesrelatedtothecentraloperationsExpensesOutflowsorconsumptionofassetsfromdeliveringorprovidinggoodsorservicesrelatedtothecentraloperationsGainsIncreasesinequityfromperipheraltransactionsoftheentityLossesDecreasesinequityfromperipheraltransactionsoftheentity Chapter1 Slide 29 RecognitionandMeasurement SFAC5 ToberecognizedanitemshouldbeOneofthedefinedelementsMeasurablewithsufficientreliabilityBasedoninformationthatisRelevantReliableMeasurementattributesHistoricalcost proceedsCurrentcostCurrentmarketvalueNetrealizable settlement valuePresent discounted valueoffuturecashflows Chapter1 Slide 30 RecognitionandMeasurement SFAC5 cont d AfullsetoffinancialstatementsforaperiodshouldshowFinancialpositionattheendoftheperiodEarnings netincome Comprehensiveincome totalnonownerchangeinequity CashflowsduringtheperiodInvestmentsbyanddistributionstoownersduringtheperiod Chapter1 Slide 31 AmericanInstituteofCertifiedPublicAccountants Pre 1973ARB ARBs APBOpinions APBOs Post 1972AccountingStandardsDivisionAccountingStandardsExecutiveCommitteeIndustryAuditGuidesIndustryAccountingGuidesStatementsofPosition PartofGAAP Chapter1 Slide 32 EmergingIssuesTaskForce EstablishedbytheFASB 1984 IdentifiesEmergingissuesaffectingreportingProblemsinimplementingauthoritativepronouncementsAbilitytoreactquicklyIssuesstatementsthatarepartofGAAP Chapter1 Slide 33 ANewReality MajorfinancialfailuresEnronWorldComMajorlegislation Sarbanes OxleyActof2002PublicCompaniesAccountingOversightBoardImpactontheAICPA sroleinauditstandardsettingFee basedfinancialsupportCEOsandCFOsmustcertifyfinancialstatementdisclosuresSection404requirescompaniestodocumentadequateinternalcontrolsandproceduresFASBAccountingStandardsCodification Codification 2009singlesourceofauthoritativeU S GAAPandFASB Chapter1 Slide 34 AnnualReportonInternalControlSystems RequiredbytheSECtoincludeAstatementofmanagement sresponsibilitiesforestablishedandmaintaininganadequatesystemIdentificationoftheframeworkusedtoevaluatetheinternalcontrolsAstatementastowhetherornottheinternalcontrolsystemiseffectiveasofyear endThedisclosureofanymaterialweaknessesinthesystemAstatementthatthecompany sauditorshaveissuedanauditreportonmanagement sassessment 估计 Chapter1 Slide 35 ThePublicCompanyAccountingOversightBoard PCAOB CreatedbytheSarbanes OxleyActAnarmoftheSEC5members 2CPAs 3non CPAsPromulgatesauditingstandardsforcompaniessubjecttotheSarbanes OxleyActAICPAstillissuesauditingstandardsfornon publiccompanies Chapter1 Slide 36 FASBAccountingStandardsCodification ProvidesinglesourceofauthoritativeU S GAAP2009Codificationorganizedinatieredstructure Organizedineightareasfromindustry specifictogeneralfinancialstatementmatters Electronicrealtimeupdates Chapter1 Slide 37 TraditionalAssumptionsoftheAccountingModel BusinessEntityGoingConcern Continuity TimePeriodMonetaryUnitHistoricalCostConservatismRealization MatchingConsistencyFullDisclosureMaterialityIndustryPracticesTransactionApproachCashBasisAccrualBasis Chapter1 Slide 38 BusinessEntity ThebusinessentityisseparateanddistinctfromtheownersoftheentityTheentityisaneconomicunitthatstandsonitsown Chapter1 Slide 39 GoingConcern Continuity TheentitywillremaininbusinessforanindefiniteperiodoftimeDisregardspossibilityofliquidationorbankruptcyImpactshowassetsandliabilitiesaremeasuredandreportedFinancialstatementsmustdiscloseifthepresumptionofcontinuityisnotapplicable Chapter1 Slide 40 TimePeriod FinitereportingperiodsappliedtothepresumedindefinitelifeofabusinessNaturalbusinessyearCalendaryearFiscalyear52 53WeekfiscalyearAllowsmeasurementoftheresultsofoperationspriortotheliquidationofabusinessentity slife Chapter1 Slide 41 MonetaryUnit StandardofmeasureforbusinesstransactionsU S dollarfordomesticentitiesSupplementarydisclosureofinflation adjustedfinancialdatacurrentlynotrequiredbyU S GAAP Chapter1 Slide 42 HistoricalCost OftenusedbecauseitisobjectiveanddeterminableAcceptabledeviationsWhenitbecomesapparentthatthehistoricalcostcannotberecovered justifiedbytheconservatismconcept Wherespecificstandardscallforanothermeasurementattributesuchascurrentmarketvalue netrealizablevalue orpresentvalue Chapter1 Slide 43 Conservatism SelectfromvariousmeasuresofvalueEachofthealternativesmusthavereasonablesupportConservatismguidesselectionofthealternativethathastheLeastfavorableimpactonnetincomeLeastfavorableimpactonfinancialposition Chapter1 Slide 44 RealizationofRevenue Ingeneral thepointofrecognitionofrevenueshouldbethepointintimewhenrevenuecanbereasonablyandobjectivelydeterminedPointofsaleEarningprocessisvirtuallycompleteEndofproductionIfpriceofitemisknownandareadymarketexistsReceiptofcashCollectioncannotbereasonablyestimated Chapter1 Slide 45 RealizationofRevenue cont d DuringproductionRevenueisrecognizedproportionaltoeffortCostrecoveryApplicableforhighlyspeculativetransactionsTherearemanyotheracceptablemethodsofrecognizingrevenue Chapter1 Slide 46 Matching MatchcostsassociatedwithrevenuerecognizedDirectassociation i e inventorysalesandcostoftheinventory CoststhathavenodirectconnectionwithrevenueSystematicrecognition usuallyintheperiodincurred Chapter1 Slide 47 Consistency SameaccountingtreatmentgiventocomparabletransactionsfromperiodtoperiodEntityresultsfromseveralyearsarecomparableSupportstrendanalysisIfachangeismadeJustificationofchangeisdiscussedImpactofthechangeonthefinancialmustbeexplained Chapter1 Slide 48 FullDisclosure AccountingreportsmustdiscloseallthefactsthatmayinfluencethejudgmentofaninformedreaderMethodsofdisclosureParentheticalSupportingschedulesCross referencesFootnotesReasonablesummaryofsignificantfinancialinformation Chapter1 Slide 49 Materiality ConsiderstherelativesizeandimportanceofanitemtothebusinessentityImmaterialitemsnotsubjecttoconceptsandprinciplesHandleinmosteconomicalandexpedientmannerDoestheinformationinfluenceaninformedreaderofthefinancialstatements Yes materialNo immaterial Chapter1 Slide 50 IndustryPractices Industry specificreportsDonotconformtogeneralaccountingguidelinesGovernmentregulationUniqueneedsorpeculiaritiesofanindustryEfforttominimizebutwillprobablyneverbecompletelyeliminated Chapter1 Slide 51 TransactionApproach RecordtransactionsthatAffectthefinancialpositionoftheentityCanbereasonablydeterminedinmonetarytermsManytransactionsarenonmonetaryinnatureNotrecordedMaybedisclosedincompliancewith fulldisclosure principle Chapter1 Slide 52 CashBasis RecognizerevenuewhencashiscollectedRecognizeexpensewhencashispaidUsuallydoesnotprovidereasonableinformationabouttheearningcapabilityoftheentityintheshortrunAcceptabilityUsuallynotGAAPMaybeusedifdifferencebetweencashbasisandaccrualbasisisnotmaterial Chapter1 Slide 53 AccrualBasis Revenuerecognizedwhenrealized realizationconcept Expensesrecognizedwhenincurred matchingconcept Numerousyear endadjustmentsrequiredMorecomplexthancashbasis Chapter1 Slide 54 AccrualBasis cont d Result