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1、Financial StatementsvChapter 15Intermediate Accounting12th EditionKieso,Weygandt,and Warfield 1.Explain the uses and limitations of a balance sheet.2.Prepare a classified balance sheet using the report and account formats.3.Understand the uses and limitations of an income statement.4.Prepare a multi
2、ple-step income statement.5.Understand the usefulness of the statement of cash flows.6.Identify the major classifications of cash flows.7.Prepare a statement of cash flows.Learning ObjectivesBalance SheetStatement of Cash FlowsUsefulnessClassification Preparation WorksheetFinancial StatementsUsefuln
3、essLimitationsClassificationpreparationIncome StatementUsefulnessLimitationsFormspreparationIntroduc-tion Type of Financial Statements PreparingRequirementNotesStatement of changes in OE定义定义格式格式 填列填列 财务报表是对企业财务状况、经营成果和现金财务报表是对企业财务状况、经营成果和现金流量的结构性表述。流量的结构性表述。Introduction of Financial Statements1 1、按反
4、应内容分类、按反应内容分类动态报表动态报表2 2、按编报期间分类、按编报期间分类汇总报表汇总报表个别报表个别报表3 3、按编报主体分类、按编报主体分类月报月报季报季报半年报半年报中期报表中期报表静态报表静态报表年度报表年度报表合并报表合并报表Type of Financial StatementsType of Financial StatementsRequirement about preparing Financial Statements（一）列报基础（一）列报基础持续经营持续经营（三）重要性和项目列报（三）重要性和项目列报1 1、性质或功能不同的项目，一般应单独列报。、性质或功能不同
5、的项目，一般应单独列报。2 2、性质或功能类似的项目，其所属类别具有重要、性质或功能类似的项目，其所属类别具有重要性的，应按其类别列报。性的，应按其类别列报。（二）列报的一致性（二）列报的一致性 财务报表中的资产和负债、收入和费用不能相互抵消。财务报表中的资产和负债、收入和费用不能相互抵消。下列不属于抵消：下列不属于抵消：1 1、资产项目按扣除减值准备后的金额列示、资产项目按扣除减值准备后的金额列示2 2、非日常活动产生的损益按净额列示、非日常活动产生的损益按净额列示（四）财务报表项目金额间的相互抵消（四）财务报表项目金额间的相互抵消（五）比较信息的列报（五）比较信息的列报（六）财务报表表首的
6、列报（六）财务报表表首的列报（七）准则规定单独列报的项目应单独列报。（七）准则规定单独列报的项目应单独列报。资产负债表是反映企业某一特定日期财务状况资产负债表是反映企业某一特定日期财务状况的会计报表。的会计报表。The Balance SheetEvaluating the capital structure.Assess risk and future cash flows.Analyze the companys:Liquidity,Solvency,and Financial flexibility.Usefulness of the Balance SheetMost assets a
7、nd liabilities are reported at historical cost.Use of judgments and estimates.Many items of financial value are omitted.Limitations of the Balance SheetThree General Classifications AssetsLiabilities,andStockholders EquityClassification in the Balance SheetLiabilitiesEquityAssets=+Cash and other ass
8、ets a company expects to convert into cash,sell,or consume either in one year or in the operating cycle,whichever is longer.Current AssetsLong-Term InvestmentsNoncurrent AssetsProperty,Plant,and EquipmentIntangiblesOther Assets“Obligations that a company reasonably expects to liquidate either throug
9、h the use of current assets or the creation of other current liabilities.”Current Liabilities“Obligations that a company does not reasonably expect to liquidate within the normal operating cycle.”Long-Term LiabilitiesCompanies usually divide equity into three parts,(1)Capital Stock,(2)Additional Pai
10、d-In Capital,and(3)Retained Earnings.Owners Equity(a)Investment in preferred stockBalance Sheet Classification ExerciseBalance Sheet Classification ExerciseAccount(b)Treasury stock(c)Common stock(d)Cash dividends payable(e)Accumulated depreciation(f)Interest payable(g)Deficit(h)Trading securities(i)
11、Unearned revenue(a)Current asset/Investment(b)Equity(c)Equity(d)Current liability(e)Contra-asset(f)Current liability(g)Equity(h)Current asset(i)Current liabilityClassificationPreparation of the balance sheet“年初余额年初余额”栏：栏：上年末资产负债表的上年末资产负债表的“期末余额期末余额”。2.2.根据总账科目期末余额分析计算填列；根据总账科目期末余额分析计算填列；“期末余额期末余额”栏：
12、栏：1.1.根据总账科目期末余额直接填列；根据总账科目期末余额直接填列；3.3.根据明细科目期末余额分析计算填列；根据明细科目期末余额分析计算填列；4.4.根据总账科目余额减去其备抵科目余额后的净根据总账科目余额减去其备抵科目余额后的净额填列；额填列；5.5.根据表内项目计算填列。根据表内项目计算填列。Evaluate past performance.Predicting future performance.Help assess the risk or uncertainty of achieving future cash flows.Income StatementUsefulnes
13、s of the Income Statement 利润表是反映企业在一定会计期间的经营成果利润表是反映企业在一定会计期间的经营成果的会计报表。的会计报表。Companies omit items that cannot be measured reliably.Income is affected by the accounting methods employed.Income measurement involves judgment.Limitations of the Income StatementRevenues Inflows or other enhancements Inf
14、lows or other enhancements of assets or settlements of its liabilities of assets or settlements of its liabilities that constitute the entitys ongoing major that constitute the entitys ongoing major or central operations.or central operations.SalesFee revenueInterest revenueDividend revenueRent reve
15、nueExamples of Revenue AccountsElements of the Income StatementExpenses Outflows or other using-up of Outflows or other using-up of assets or incurrences of liabilities that assets or incurrences of liabilities that constitute the entitys ongoing major or constitute the entitys ongoing major or cent
16、ral operations.central operations.Cost of goods soldDepreciation expenseInterest expenseRent expenseSalary expenseExamples of Expense AccountsGains Increases in equity(net assets)from peripheral or incidental transactions.Losses-Decreases in equity(net assets)from peripheral or incidental transactio
17、ns.Gains and losses can result fromsale of investments or plant assets,settlement of liabilities,write-offs of assets.An important business indicator.Measures the dollars earned by each share of common stock.Must be disclosed on the the income statement.Earnings Per Share=Earnings Per Share=Net inco
18、me-Preferred dividends Weighted average number of shares outstandingSingle-StepSingle-StepThe single-step The single-step statement consists of statement consists of just two groupings:just two groupings:RevenuesRevenuesExpensesExpensesNet IncomeNet IncomeSingleSingle-Step-StepNo distinction No dist
19、inction betweenbetween OperatingOperating andand Non-operatingNon-operating categories.categories.Forms of the income statementForms of the income statementSeparates operating transactions from nonoperating transactions.Matches costs and expenses with related revenues.Highlights certain intermediate
20、 components of income that analysts use.Multiple-StepMultiple-StepBackgroundThe The presentation presentation divides information divides information into major sections.into major sections.1.Operating 1.Operating SectionSection 2.Nonoperating 2.Nonoperating SectionSection 3.Income tax3.Income tax 4
21、.4.根据相关规定计算填列。根据相关规定计算填列。“上期金额上期金额”栏：栏：上年利润表的上年利润表的“本期金额本期金额”。2.2.根据有关总账科目的发生额分析计算填列；根据有关总账科目的发生额分析计算填列；“本期金额本期金额”栏：栏：1.1.根据有关总账科目的本期发生额直接填列；根据有关总账科目的本期发生额直接填列；3.3.根据表内项目计算填列；根据表内项目计算填列；Preparation of the Income StatementThe Statement of Cash Flows 现金流量表是反映企业在一定会计期间现金和现金流量表是反映企业在一定会计期间现金和和现金等价物流入和流出
22、的会计报表。和现金等价物流入和流出的会计报表。UsefulnessUsefulness1.Entitys ability to generate future cash flows.2.Entitys ability to pay dividends and obligations.3.Reasons for difference between net income and net cash flow from operating activities.4.Cash and noncash investing and financing transactions.库存现金库存现金 银行存款银
23、行存款 其他货币资金其他货币资金 现金等价物现金等价物 现金各项目之间的转换、非现金各项目之间的现金各项目之间的转换、非现金各项目之间的转换都不会产生现金流量。转换都不会产生现金流量。注意注意 highly liquid,short-term investments that can be converted into cash with little delay.Cash on handCash in the bankThe term“Cash”=Cash and cash equivalentsClassification of Cash FlowsClassification of Ca
24、sh FlowsIncome Statement ItemsOperating ActivitiesGenerally Long-Term Asset ItemsInvesting ActivitiesGenerally Long-Term Liability and Equity ItemsFinancing Activities 企业投资和筹资活动以外的企业投资和筹资活动以外的所有交易和事项。所有交易和事项。Operating activities create revenues,expenses,gains,and losses.企业长期资产的购建和不企业长期资产的购建和不包括在现金等价
25、物范围内的投包括在现金等价物范围内的投资及处置活动。资及处置活动。Investing activities increase and decrease long-term assets.导致企业资本及债务规模和导致企业资本及债务规模和构成发生变化的活动。构成发生变化的活动。Financing activities obtain cash from investors and creditors.Income Statement ItemsGenerally Long-Term Asset ItemsGenerally Long-Term Liability and Equity ItemsTh
26、ree Sources of Information:1.Comparative balance sheets2.Current income statement3.Selected transaction dataSteps in PreparationSteps in PreparationThree Major Steps:Step 1.Determine change in cash.Step 2.Determine net cash flow from operating activities.Step 3.Determine net cash flows from investin
27、g and financing activities.Balance Sheet12/31/07Balance Sheet12/31/08Fiscal 2008A=L+OEA=L+OEIncome StatementStatement of Changes in OEStatement of Cash Flows A company must determine revenues and expenses on a cash basis.Eliminate the effects of income statement transactions that do not result in an
28、 increase or decrease in cash.Convert net income to net cash flow from operating activities through either a direct method or an indirect method.Step 2:Determine Net Cash Flow from Step 2:Determine Net Cash Flow from Operating ActivitiesOperating ActivitiesIndirect MethodCommon adjustments to Net In
29、come(Loss):Depreciation and amortization expense.Gain or loss on disposition of long-term assets.Change in current assets and current liabilities.Adjusts net income for items not affecting cash.Krauss Companys financial statements for the year ended December 31,2007,contained the following condensed
30、 information.Prepare the operating activities section of the statement of cash flows using the indirect method(Step 2).Direct Method “Net cash provided by operating activities”is the equivalent of cash basis net income.Deducts operating cash disbursements from operating cash receipts.Krauss Companys
31、 financial statements for the year ended December 31,2007,contained the following condensed information.Prepare the operating activities section of the statement of cash flows using the Direct method(Step 2).Direct Versus Indirect ControversyDirect Versus Indirect ControversyIn Favor of the Direct M
32、ethodShows operating cash receipts and payments.Information about cash receipts and payments is more revealing of a companys ability 1.to generate sufficient cash from operating activities to pay its debts,2.to reinvest in its operations,and 3.to make distributions to its owners.In Favor of the Indi
33、rect MethodFocuses on the differences between net income and net cash flow from operating activities.Provides link between the statement of cash flows and the income statement and balance sheet.Special Rules Applying to Indirect MethodsDisclose Interest paid.Disclose Income taxes paid.E23-2(a)Plant
34、assets that had cost$20,100 6 years before and were being depreciated on a straight-line basis over 10 years with estimated scrap value$1,000 were sold for$5,400.Step 3:Determine Net Cash Flow from Step 3:Determine Net Cash Flow from Investing and Financing ActivitiesInvesting and Financing Activiti
35、esE23-2(b)During the year,10,000 shares of common stock with a stated value of$10 a share were issued for$43 a share.E23-2(d)The company sustained a net loss for the year of$50,000.Depreciation amounted to$22,000,and a gain of$9,000 was realized on the sale of land for$39,000 cash.E23-2(h)During the
36、 year,treasury stock costing$47,000 was purchased.Statement of Cash FlowsStatement of Cash FlowsUse of a WorksheetUse of a WorksheetA worksheet involves the following steps.Step 1.Enter the balance sheet accounts and their beginning and ending balances in the balance sheet accounts section.Step 2.En
37、ter the data that explain the changes in the balance sheet accounts and their effects on the statement of cash flows in the reconciling columns of the worksheet.Step 3.Enter the increase or decrease in cash on the cash line and at the bottom of the worksheet.This entry should enable the totals of th
38、e reconciling columns to be in agreement.所有者权益变动表是反映构成企业所有者权所有者权益变动表是反映构成企业所有者权益的各组成部分当期增减变动情况的报表。益的各组成部分当期增减变动情况的报表。1 1、反映所有者权益各组成部分的增减变动；、反映所有者权益各组成部分的增减变动；2 2、体现了企业综合收益。、体现了企业综合收益。This financial statement shows the detail of owners equity and explains the changes that occurred in the components o
39、f owners equity during the year.Statement of changes in Owners Equity一、所有者权益变动表的定义一、所有者权益变动表的定义二、所有者权益变动表的格式二、所有者权益变动表的格式1 1、上年年末余额、上年年末余额2 2、本年年初金额、本年年初金额3 3、本年增减变动金额、本年增减变动金额净利润净利润直接计入所有者权益的利得和损失直接计入所有者权益的利得和损失所有者投入和减少资本所有者投入和减少资本（一）表头（一）表头（二）正表（二）正表4 4、本年年末余额、本年年末余额利润分配利润分配所有者权益内部结转所有者权益内部结转The S
40、tatement of Stockholders Equity三、所有者权益变动表的填列三、所有者权益变动表的填列“上年金额上年金额”栏：栏：上年所有者权益变动表的上年所有者权益变动表的“本年金额本年金额”。“本年金额本年金额”栏：栏：1 1、根据有关准则分析填列。、根据有关准则分析填列。2 2、根据其他报表项目填列。、根据其他报表项目填列。3 3、根据所有者权益账户的发生额分析填列。、根据所有者权益账户的发生额分析填列。4 4、根据表内项目计算填列。、根据表内项目计算填列。Notes are the means of amplifying or explaining the items pr
41、esented in the main body of the statements.Notes to the Financial StatementsAccounting PoliciesCompanies should present a statement identifying the accounting policies adopted(Summary of Significant Accounting Policies).Common NotesInventory Property,Plant,and Equipment Creditor Claims Equity Holder
42、s Claims Contingencies and Commitments Deferred Taxes,Pensions,and LeasesChanges in Accounting Principles一、提供附注的原因一、提供附注的原因 财务报表附注是对财务报表本身无法或难以充财务报表附注是对财务报表本身无法或难以充分表述的内容和项目所作的补充说明与详细解释。分表述的内容和项目所作的补充说明与详细解释。1 1、突出财务报表信息的重要性。、突出财务报表信息的重要性。2 2、提高报表信息的可比性。、提高报表信息的可比性。3 3、增强报表信息的可理解性。、增强报表信息的可理解性。提供附注的
43、原因：提供附注的原因：二、附注的主要内容二、附注的主要内容（一）企业的基本情况（一）企业的基本情况 企业注册地、组织形式和总部地址；企业注册地、组织形式和总部地址；企业的业务性质企业的业务性质和主要经营活动；母公司以及集团最终母公司的名称；财和主要经营活动；母公司以及集团最终母公司的名称；财务报告的批准报出者和批准报出日。务报告的批准报出者和批准报出日。（二）财务报告的编制基础（二）财务报告的编制基础 会计年度、记帐本位币、会计计量基础、现金及现金等会计年度、记帐本位币、会计计量基础、现金及现金等价物构成。价物构成。（三）遵循企业会计准则的声明（三）遵循企业会计准则的声明1 1、会计政策和会计
44、估计的确定依据、会计政策和会计估计的确定依据（四）重要会计政策和会计估计（四）重要会计政策和会计估计2 2、会计估计中所采用的关键假设和不确定因素、会计估计中所采用的关键假设和不确定因素（五）会计政策和会计估计变更以及差错更正的说（五）会计政策和会计估计变更以及差错更正的说明明（六）报表重要项目的说明（六）报表重要项目的说明（七）或有事项（七）或有事项（八）资产负债表日后事项（八）资产负债表日后事项（九）关联方关系及其交易（九）关联方关系及其交易End of Chapter 151、有时候读书是一种巧妙地避开思考的方法。2023/4/162023/4/16Sunday,April 16,202
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