(史上最全共系列中英文对照)XXXX年版_财务管理_经管

,会计学原理Principles of Accounting 2,财务会计Financial Accounting 财务会计2 3, 财务管理Financial Management 4, 成本会计Cost Accounting 5,管理会计Managerial Accounting 6,国际会计International Accounting 7,税务会计Tax Accounting 8,高级财务会计Advanced Financial Accounting 9,计算机会计Accounting Information System 10,审计学Auditing 11,财务分析Financial Analysis 论文: 内部控制结构中的自评监控及完善内控的对策Self-monitoring and Measures to Improve Internal ControlGeneral: Accounting can be divided into several fields includingfinancial accounting,management accounting,auditing, andtax accounting.67Financial accounting focuses on the reporting of an organizations financial information, including the preparation offinancial statements, to external users of the information, such asinvestors,regulatorsandsuppliers;8and management accounting focuses on the measurement, analysis and reporting of information for internal use by management.18The recording of financial transactions, so that summaries of the financials may be presented in financial reports, is known asbookkeeping, of whichdouble-entry bookkeepingis the most common system.3.1Financial accounting3.2Management accounting3.3Auditing3.4Accounting information systems3.5Tax accounting1、 Principles of Accounting会计学原理This course made us to know the basic priciples and knowledge about accouting:-Six accounting elements会计六要素资产、负债、所有者权益、收入、费用、利润：assets, liabilities, equities, revenue, expenses and profit-A ledger account or T account looks like this.-13 accounting priciples 会计原则一、 客观性原则(Objective Principle)二、 实质重于形式原则(substance over form)三、 相关性原则(relevance)四、 一贯性原则(Consistent Principle)五、 可比性原则(Comparability Principle)六、 及时性原则(timeliness)七、 明晰性原则八、 权责发生制原则(Accrual Basis)九、 配比原则(Matching Principle)十、 实际成本原则principle of historical cost十一、 划分收益性支出与资本性支出原则(distinguishment between capital expenditure and revenue expenditure)十二、 谨慎性原则(Conservatism Principle)十三、 重要性原则(Materiality Principle)-A double-entry bookkeeping system复式记帐法The name derives from the fact that financial information used to be recorded using pen and ink in paper books hence bookkeeping and that each transaction was entered twice, with one side of the transaction being called a debit and the other a credit.Basic principles: Double entry bookkeeping is based on the same idea as the accounting equation. Every accounting transaction has two equal but opposite effects Equality of assets and liabilities is preserved in a system of double entry bookkeeping every accounting event must be entered in ledger accounts both as a debit and as an equal but opposite credit.-Accounting Equation会计恒等式Assets = liabilities + equity2、 财务会计Financial AccountingFinancial accounting(orfinancial accountancy) is the field ofaccountingconcerned with the summary, analysis and reporting of financial transactions pertaining to a business.1This involves the preparation offinancial statementsavailable for publicconsumption.Stockholders,suppliers,banks, employees,government agencies, business owners, and other stakeholders are examples of people interested in receiving such information for decision making purposes.Financial accountancy is governed by both local and international accounting standards.While financial accounting is used to prepare accounting information for people outside the organisation or not involved in the day-to-day running of the company,management accountingprovides accounting information to help managers make decisions to manage the business.-TWO Underlying AssumptionGoing concernThe entity will continue in operation for the foreseeable future. There is no intention to put the entity into liquidation.AccrualsRevenue and costs must be recognised as they are earned or incurred, not as money is received or paid.-TWO fundamental characteristicsRelevanceinfo is relevant when it influences decisions of users,affected by nature and materialityFaithful representationfinancial information must faithfully represent the underlying economic phenomena-Balance Sheet资产负债表In financial accounting, a balance sheet is a summary of the financial balances of a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a snapshot of a companys financial condition. The balance sheet is a statement which applies to a single point in time of a business calendar year.-Income statement利润表Anincome statement(US English) orprofit and loss account(UK English)1(also referred to as aprofit and loss statement(P&L),revenue statement,statement of financial performance,earnings statement,operating statement, orstatement of operations)2is one of thefinancial statementsof a company and shows the companysrevenuesandexpenses during a particular period.1It indicates how the revenues (money received from the sale of products and services before expenses are taken out, also known as the “top line”) are transformed into thenet income(the result after all revenues and expenses have been accounted for, also known as “net profit” or the “bottom line”). It displays the revenues recognized for a specific period, and thecostandexpensescharged against these revenues, includingwrite-offs(e.g.,depreciationand amortizationof variousassets) andtaxes.2The purpose of the income statement is to showmanagersandinvestorswhether the company made or lost money during the period being reported.-Cash Flow Statement现金流量表Infinancial accounting, acash flow statement, also known asstatement of cash flows,1is afinancial statementthat shows how changes inbalance sheetaccounts and income affectcash and cash equivalents, and breaks the analysis down to operating, investing and financing activities. Essentially, the cash flow statement is concerned with the flow of cash in and out of the business. The statement captures both the current operating results and the accompanying changes in thebalance sheet.1As an analytical tool, the statement of cash flows is useful in determining the short-term viability of a company, particularly its ability to pay bills. International Accounting Standard 7 (IAS 7), is theInternational Accounting Standardthat deals with cash flow statements.People and groups interested in cash flow statements include: Accounting personnel, who need to know whether the organization will be able to cover payroll and other immediate expenses Potentiallendersorcreditors, who want a clear picture of a companys ability to repay Potentialinvestors, who need to judge whether the company is financially sound Potential employees or contractors, who need to know whether the company will be able to afford compensation Shareholdersof the business.Cash flow activities 3.1Operating activities 3.2Investing activities 3.3Financing activitiesPreparation methods5.1Direct methodDirect methodeditThe direct method for creating a cash flow statement reports major classes of gross cash receipts and payments. Under IAS 7, dividends received may be reported under operating activities or under investing activities. If taxes paid are directly linked to operating activities, they are reported under operating activities; if the taxes are directly linked to investing activities or financing activities, they are reported under investing or financing activities. Generally Accepted Accounting Principles (GAAP) vary from International Financial Reporting Standards in that under GAAP rules, dividends received from a companys investing activities is reported as an operating activity, not an investing activity.135.2Indirect methodIndirect methodeditThe indirect method uses net-income as a starting point, makes adjustments for all transactions for non-cash items, then adjusts from all cash-based transactions. An increase in an asset account is subtracted from net income, and an increase in a liability account is added back to net income. This method converts accrual-basis net income (or loss) into cash flow by using a series of additions and deductions.-Important accounting items introductions(Initial measurement and subsequent cost): inventory, non current assets1. Inventory figure affects both the statement of financial position and the statement of profit or loss. Inventory can include raw materials, work in progress, finished goods, goods purchased for resale. Inventories should be measured at the lower of cost and net realisable value the comparison between the two should ideally be made separately for each item.Counting inventories: In order to make the entry for the closing inventory,we need to know what is held at the year-end. We find this out notfrom the accounting records, but by going into the warehouse and actually counting the boxes on the shelves. Net realisable value: is the estimated selling price in the ordinary course of business less theestimated costs of completion and the estimated costs necessary to make the sale.2. Tangible non-current assets: Non-current assets are held by the entity for a number ofyears use. Capital expenditure results in the acquisition of non-current assets, or an increase in their earning capacity, Revenue expenditure is incurred for the purpose of trade or to maintain the existing earning capacity of the non-current assets. Initial measurement at cost Components of cost purchase price (incl. import duties, excl. trade discount, recoverable sales tax) initial estimate of dismantling and restoration costs directly attributable costs, eg site preparation, delivery and handling costs, installation and assembly costs, costs of testing whether working properly, prof. Fees, Subsequent expenditure. added to carrying amount if improves condition beyond previous performance Repairs and maintenance costs areexpensedDepreciation accruals concept: is a process of spreading the original cost of a non-current asset over the accounting periods in which its benefit will be felt. Two methods: Straight line,Reducing balance.Change in expected life-If after a period of an assets life it is realised that the original useful life has been changed, then the depreciation charge needs to be adjusted.The revised charge from that date becomes: CV at revised date/Remaining useful lifeDisposal-On disposal of an asset a profit or loss will arise depending on whether disposal proceeds are greater or less than the carrying value of the asset. If proceeds CV = profit, If proceeds CV = loss3. Intangible non-current assets:Intangible non-current assets are long term assets with no physical substance: Goodwill, Leases, Patents and trade names, Deferred development costsAmortisation: Intangible assets must be amortised systematically over their useful life. An intangible asset with an indefinite useful life is not amortised but should be reviewed each year for impairment. Development expenditure must be capitalised if all criteria stated under IAS 38 can be demonstrated. Financial statements should show areconciliation of the carrying amount of intangible assets at the beginning and end of the period.4. Accruals and prepayments: Accruals is Expenses charged against the profits of a period even though they have not yet been paid for, Prepayment made in one period but charged to the later period to which they relate.5. Irrecoverable debts and receivables allowances: If definitely irrecoverable, the prudence concept dictates that it should be written off to the statement of profit or loss as an irrecoverable debt. DEBIT : Irrecoverable debt expense (SPL)CREDIT : Trade receivables (SOFP)6. Provisions减值准备 and contingencies或有事项 Provisions: A liability of uncertain timing or amount; Disclosures required for provisions-Details of the change in carrying amount from the beginning to the endof the year.7. Bank reconciliations: A comparison of a bank statement with the cash book.Errors, Omissions, Timing differences. Proforming a bank reconciliation and then Reconcile to the bank statement.8.9. Events after the reporting period: 3、 财务管理Financial Management财务管理的目标是：利润最大化，企业价值最大化，每股收益最大化。财务管理主要是资金管理。所以学习了资金如何在一个企业中流转。分为短期和长期两种情况。Financial managementrefers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization. It is the specialized function directly associated with the top management. The significance of this function is not seen in the Line but also in the capacity of Staff in overall of a company. The aim of Financial management is Shareholder wealth maximisation, Profit maximisation and Earnings per share growth.It includes how to raise the capital, how to allocate it i.e. capital budgeting. Not only about long term budgeting but also how to allocate the short term resources like current liabilities. It also deals with the dividend policies of the share holders.The primary management is to manage capital. Thus, we studied how the capital flows in an enterprise. It is divided into 2 situations: short term and long term.股东对企业投资，有了现金，现金买原材料进行制造，有了在成品，继续加工，变成产成品，卖掉，会可能收到现金，或者应收账款，这部分企业所得，一部分继续投入运作，一部分给股东分红。这整个运作中，有管理费用和财务费用产生，生产过程，有制造费用产生。对于长期资金循环，是多了一个固定资产的累计折旧。The shareholders invest in the enterprise. After getting cash, the enterpriser buys materials and then manufactures them. These are products working in process. Worker continues to produce them until they are made into finished products. After selling them, the enterpriser will get cash or accounts receivable. One part of those incomes is used for the further operation, and the other part is given to the shareholders as bonus. In the whole operation, it occurs management fees and financial fees. During the manufacture process, it occurs manufacturing expenses. Compared with the short term capital circle, there is still an accumulated depreciation of fixed assets for the long term capital circle.Financing is to raise funds. One method is debt financing, which includes bank loans and bond sales. Another method is equity financing - the sale of stock by a company to investors. Possession of stock gives the investor ownership in the company in proportion to the number of shares the investor owns. In return for the stock, the company receives cash, which it may use to expand its business or to reduce its debt.Channels to raise funds：Common stock is a form of corporate equity ownership, a type of security. It is called common to distinguish it from preferred stock. In the event of bankruptcy, common stock investors receive their funds after preferred stock holders. Bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use.Management of working capital: Minimise risk of insolvency & Maximise return on assetsWorking capital = current assets current liabilitiesmanagement will use a combination of policies and techniques for the management of working capital. These policies aim at managing the current assets (generally cash and cash equivalents, inventories) and the short term financing.1. Cash management：Identify the cash balance which allows for the business to meet day to day expenses, but reduces cash holding costs. Cash operating cycle:is the period of time between the outflowof cash to pay for raw materials and the inflow of cash from customers.Treasury managementTreasury departments are set up to manage cash funds and currency efficiently, and make the best use of corporate finance markets.The main advantages of centralised treasury management are avoiding a mix of surpluses and overdrafts, and being able to obtain favourable rates on bulk borrowing/investment.资金管理模型：cash management mood威廉鲍摩尔(William Baumol)第一次将机会成本与交易成本结合在一起，提出了现金管理的正式模型。鲍摩尔模型（The Baumol Model）可以用来确定目标现金余额。 假设金索斯公司（Golden Socks Corporation）在第0周的现金余额C=120万美元，且每周的现金流出量比现金流入量多60万美元。该公司的现金余额在第二周末将降为零，即在这两周内其平均现金余额为60万美元。在第二周末，金索斯公司就必须出售有价证券或是通过借贷来补充现金了。如果把C设得更高一些，比如，设为240万美元，这样在企业需要出售有价证券之前，现金就可以维持四周，但是企业的平均现金余额也随之（从60万美元）提高到120万美元。如果把C设为60万美元，那么现金在一周内就将耗尽，而企业也必须更频繁得补充现金，虽然这样，企业的平均现金余额却从60万美元降至30万美元。 由于补充现金时必然发生交易成本（例如，出售有价证券时需支付的经纪费用），因此建立大量的初始现金余额将降低与现金管理有关的交易成本。然而，平均现金余额越大，机会成本（本可以有售出的有价证券得到的收益）也就越大。 为了解决这一问题，金索斯公司必须明确以下三点： F=售出证券以补充现金的固定成本 T=在相关的计划周期（例如，一年）内交易的现金总需要量 K=持有现金的机会成本（即有价证券的利率） 在此基础上，金索斯公司就可以确定任一特定现金余额政策的总成本，并随之确定最佳的现金余额政策了.以美元计算的总机会成本等于现金余额乘以利率，或表示为： 机会成本=（C/2）K 交易成本：金索斯公司的交易成本可以通过计算该年起出售有价证券的次数而确定.该年的现金支出总额为60万美元52周=3 120万美元。如果将初始现金余额设为120万美元，那么金索斯公司每两周就必须出售120万美元有价证券。这样，我们可以得到交易成本为： 其计算公式为： 交易成本($)=(T/C)F总成本 ：现金余额的总成本是由机会成本加上交易成本构成:如表6-3所示。 总成本=机会成本+交易成本=(C/2)K+(T/C)F默顿米勒和丹尼尔奥尔(Daniel Orr)创建了一种能在现金流入量和现金流出量每日随机波动情况下确定目标现金余额的模型。又称最佳现金余额模型。在米勒-奥尔模型(The Miller-Orr Model)中，既引入了现金流入量也引入了现金流出量。模型假设日净现金流量（现金流入量减去现金流出量）服从正态分布。每日的净现金流量可以等于其期望值，也可以高于或低于其期望值。我们假设净现金流量的期望值为零。 下图说明了米勒-奥尔模型的基本原理。该模型是建立在对控制上限（H）、控制下限（L）以及目标现金余额（Z）这三者进行分析的基础之上的。企业的现金余额在上、下限间随机波动，在现金余额处于H和L之间时，不会发生现金交易。当现金余额升至H时，比如说点X，则企业购入HZ单位（美元）的有价证券，使现金余额降至Z。同样地，当现金余额降至L，如点Y（下限），企业就需售出ZL单位有价证券，使现金余额回升至Z。这两种情况都是使现金余额回到Z。其中，下限L的设置是根据企业对现金短缺风险的愿意承受程度而确定的。与鲍摩尔模型相同的是，米勒-奥尔模型也依赖于交易成本和机会成本，且每次转换有价证券的交易成本被认为是固定的，而每期持有现金的百分比机会成本则是有价证券的日利率。与鲍摩尔模型不同的是，米勒-奥尔模型每期的交易次数是一个随机变量，且根据每期现金流入与流出量的不同而发生变化。 因此，每期的交易成本就决定于各期有价证券的期望交易次数。同理，持有现金的机会成本就是关于每期期望现金额的函数。 给定企业设定的L，米勒-奥尔模型就可以解出目标现金余额Z和上限H。现金余额返回政策的期望总成本等于期望交易成本和期望机会成本之和。米勒和奥尔确定令期望总成本最小的Z（现金返回点）和H（上限）的值为：2. Inventory management: Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials - and minimizes reo