会计英语chaper市公开课获奖课件

1、CHAPTER 2THEORETICAL FRAMEWORKUNDERLIYING FINANCIAL ACCOUNTING第1页第1页Learning ObjectivesKnow the conceptual framework for financial reportingUnderstand the qualitative characteristics of accounting informationDescribe the elements of financial statementsUnderstand the basic assumptions and the basic

2、principles of accounting Know the accounting regulation system in China第2页第2页Accounting theoryWhat does accounting theory consist of ?Where do they come from?第3页第3页Nature of a Theoretical FrameworkA theoretical framework or conceptual framework is a coherent system of interrelated objectives and fun

3、damentals that can lead to consistent standards and that prescribes the nature, function, and limits of financial accounting and financial statements.第4页第4页Role of conceptual framework Structure of conceptual framework Accounting assumptions 会计假设Accounting principles 会计原则第5页第5页First Level: Basic Obj

4、ectives第6页第6页Second Level: Fundamental ConceptsQualitative characteristics of accounting information Elements of financial statementsRecognition 确认Measurement 计量第7页第7页Second Level: Fundamental ConceptsQualitative Characteristics of Accounting InformationFigure 2-2 in P16Hierarchy 等级制度Pervasive 普遍Thr

5、eshold 门槛、起点、开端Criterion 评判原则、尺度第8页第8页Elements of Financial Statementsassetsliabilitiesequityrevenueexpensesnet income (or net loss)第9页第9页Third Level: Recognition and Measurement ConceptsBasic assumptionsBasic principles Constraints第10页第10页Each economic unit is an entity and must be kept separate an

6、d distinct from its owners, creditors, and other entities.Accounting Entity Assumption 第11页第11页The business will remain in operation in the foreseeable future. Going Concern Assumption第12页第12页All transactions should be measured in money form.It implies the stable-money-unit assumption.It makes the i

7、nformation reliable &comparable. Money Unit Assumption第13页第13页 The life of business should be divided into short ones of equal length.It makes it easier to make financial statements and satisfies theaccounting information users need ofknowing the current conditions of the business. Periodicity Assum

8、ption第14页第14页Questions:1. ( )are the preconditions of identifying, measuring, recording and reporting economic transactions.2. ( ) assumption implies the life of business should be divided into short ones.3.( ) assumes the business will continue for a quite long time.第15页第15页4. ( ) limits the econom

9、ic data in the accounting system to data related directly to the activities of the business. 5.( ) requires that money be used as the basic measuring unit . In fact ,it also implies the ( ) assumption.第16页第16页Accrual basis principle implies that revenue and expenses are recorded when they occurs but

10、 not when cash is received or paid.Accrual basis Principle第17页第17页All goods and services purchased by an enterprise are recordedat acquisition cost and appear on financial statement at cost. Historical Cost Principle第18页第18页Historical cost 历史成本Replacement cost 重置成本Net realizable value 可变现净值Current v

11、alue 现值Fair value 公允价值第19页第19页The Cost Principle-ExampleYou purchased some land for $ 95,000 on January 1 of the current year. Then, you borrowed $100,000 for 2 years at 10% interest at the local bank that appraised the land for $ 105,000.You will eventually pay the bank $120,000 (20,000 for the int

12、erest).On Dec.31 of that year, you received a offer for the land for $110,000, but you dont want to sell.At what value should the land be reported on the balance sheet?第20页第20页Realization principleUnder the realization principle, revenues should be recognized at the time goods are sold or services a

13、re rendered. 第21页第21页Matching principleUnder the matching principle, revenue for a period is matched with the expenses incurred in generating the revenue.第22页第22页Full disclosure principleFinancial statements and their accompanying notes should contain all relevant information a reader needs to under

14、stand the financial condition and performance of a business. 第23页第23页Cost benefit relationshipMaterialityConservatismConstraints第24页第24页Cost benefit relationshipAccountants should weigh the benefit derived from the information against the cost of providing that information. The benefits should excee

15、d the costs.第25页第25页MaterialityThe word “materiality” refers to the relative importance of an item.Accountants should consider the relative importance of any transactions.第26页第26页ConservatismAccountants should be conservative in choosing the one that has the least favorable impact on net income when

16、 there are two or more alternative accounting methods. 第27页第27页Questions:1. ( ) implies accountants should be conservative in choosing the one that has the least favorable impact on net income when there are two or more alternative accounting methods. 2. Under ( ), revenues should be recognized at t

17、he time goods are sold or services are rendered. 第28页第28页3. Under ( ), when the business provides a service, makes a sale, or incurs an expense, the accountant must enter it into the journal, whether or not cash has been received or paid. 4.( ) requires financial statement should offer adequate info

18、rmation.第29页第29页Case China Security Regulatory Commission (CSRC) requires the listed companies disclose their annual reports within 4 months after the end date of each accounting period. A student major in accounting , argued, “ Nowadays, timeliness is a vital characteristic of information. Informat

19、ion provided 4 months later is useless because the situation have changed greatly.” Do you agree or not? Why?第30页第30页课后作业自己查找资料，理解我国和美国会计法规体系。第31页第31页The Accounting Regulation System in ChinaAccountingLawNPCMinistry of FinanceAccountingStandardsConcreteAccountingStandardsBasicAccountingStandardsEnte

20、rpriseAccountingSystemApplying Guide ofAccountingStandards第32页第32页Basic Accounting StandardsConcepts Framework of Financial Accounting (CF)Function: Conduct formulating accounting standards第33页第33页我国公司会计基本准则总则会计信息质量要求资产负债所有者权益收入费用利润会计计量财务会计汇报附则第34页第34页Concrete Accounting StandardsGenerally AcceptedA

21、ccounting Principles (GAAP)Function: Guidelines to govern the conduct of accountants第35页第35页 Securities and Exchange Commission (SEC，美国证券交易委员会) The federal agency that has authority to determine GAAP for public companies whose stock is traded on Stock Exchange. In essence, the SEC has acquiesced （默许

22、）its role to to establish GAAP to the FASB.Financial Accounting Standards Board (FASB，美国财务会计准则委员会) A private, not-for-profit organization. The FASB follows due process （充足程序 ）rules and seeks public input at various points in GAAP development through “Exposure Drafts”.第36页第36页Early Standard SettingEv

23、olution of Standard-Setting Process1938 - 1959: Committee on Accounting Procedures (CAP) 会计程序委员会1959 - 1973: Accounting Principles Board (APB) 会计原则委员会Accounting Research Bulletins and Opinions 会计研究公告与意见第37页第37页Current Standard Setting FASBEstablished in 1973.Supported by the Financial Accounting Foundation（财务会计基金 ）.Seven full-time, independent voting members serving for 10 years.Members not required to be CPAs.第38页第38页Statement of financial accounting concepts, SFAC, 财务会计概念公告Statement of financial accounting standards, SFASs, 财务会计准则公告Interpretation of the SFASs, 财务会计准则解释第39页第39页第40页第40页FASBs