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1、认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Chapter 2 Basic Financial Statements认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Introduction to Financial StatementsIncome StatementBalance SheetStatement of Cash FlowsThree primary financial statements.We will use a corporati
2、on to describe these statements.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Introduction to Financial StatementsDescribes where the enterprise stands at a specific date.Income StatementBalance SheetStatement of Cash Flows认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Intro
3、duction to Financial StatementsDepicts the revenue and expenses for a designated period of time.Income StatementBalance SheetStatement of Cash Flows认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Introduction to Financial StatementsDepicts the ways cash has changed during a designated per
4、iod of time.Income StatementBalance SheetStatement of Cash Flows认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目A Starting Point:Statement of Financial PositionHeading(p39)Body(p39)认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目AssetsAssets are economic resources that are owne
5、d by the business and are expected to benefit future operations.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目AssetsResourcesAssetsGenerate Positive Cash Flows(Cash Inflows)Directly converted into cash(collection of receivables)Indirectly used in operating the business to create other a
6、ssets that result in positive cash flows(used to produce the products for sale)Tangible(have physical existence)Intangible(like in the form of valuable rights)A summary of p40认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目AssetsCost PrincipleCost PrincipleGoing-ConcernGoing-ConcernAssump
7、tionAssumptionObjectivity Objectivity PrinciplePrincipleStable-DollarStable-DollarAssumptionAssumptionThese accounting principles support cost as the basis for asset valuation.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目LiabilitiesLiabilities are debts that represent negative future c
8、ash flows for the enterprise.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Owners EquityOwners equity represents the owners claims on the assets of the business.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Owners EquityChanges in Owners EquityOwners InvestmentsBusiness Ear
9、ningsPayments to OwnersBusiness Losses认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目The Accounting EquationThe accounting equation displays that all assets are either financed by borrowing money or paying with the money of the companys stockholders.Assets=Liabilities+Owners EquityWhat t
10、hings the business ownsWho supplied these resources to the business and how much each group supplied认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目The Accounting Equation Assets =Liabilities +Owners Equity$300,000 =$80,000 +$220,000认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫
11、”项目P41 Your TurnWould there be any different motivation when you report the value of your home to the city assessor,when comparing with when reporting to the potential buyers?认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Overnight Auto Service p44Business entity:Overnight Auto ServiceAc
12、counting policies:Prepare formal financial statementsOn Jan 21,McBryan and his family invested$8,000 in Overnight Auto Service and received 800 shares of stock.On Jan 20,Overnight Auto Service purchased the land for$52 000 cash.On Jan 22,Overnight purchased the abandoned bus garage for$36 000.Overni
13、ght made a cash down payment of$6 000 and issued a 90-day non-interest bearing note payable for the$30 000 balance owned.Purchase on account:a deferral of paymentsInstallment paymentOn Jan 23,Overnight purchased tools and automotive repair equipment on account.The purchase was$13,800,due within 60 d
14、ays.On Jan 24,Overnight sold the excess tools for$1,800,a price equal to Overnights cost.Ace made no down payment but to pay the amount due within 45 days.On Jan 26,Overnight received$600 from Ace Towling as partial settlement of its account receivable from Ace.On Jan 27,Overnight made a partial pay
15、ment of$6,800 on its account payable to Snappy tools.On Jan 31,Overnight record the$22,000 accumulated service revenue for January.On Jan 31,Overnight paid$200 utilities and$1,200 wages.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目The expanded accounting equationNow,lets review how JJs
16、 transactions affected the accounting equation.(the expanded accounting equation p50)Income Statement认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Statement of Cash FlowsThe cash flow statement reports the cash generated and used during the time interval specified in its heading.认识到了贫困户
17、贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Statement of Cash Flows p51It organizes and reports the cash generated and used in the following categories:Operating activities converts the items reported on the income statement from the accrual basis of accounting to cash.Investing activitiesre
18、ports the purchase and sale of long-term investments and property,plant and equipment.Financing activitiesreports the issuance and repurchase of the companys own bonds and stock and the payment of dividends.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Statement of Cash FlowsThe operati
19、ng,investing,and financing categories include both positive and negative cash flows.The combined total of the three categories of the statement explains the total change in cash from the beginning to the end of the period.It is not unusual for a company to report an increase in cash from operating a
20、ctivities,but a decrease in the total amount of cash.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Relationships Among Financial StatementsDate at beginning of periodDate at end of periodBalance SheetBalance SheetTimeIncome StatementStatement of Cash Flows认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。
21、近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Financial Statement Articulation认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Financial Reporting and Financial StatementsStatement of Cash FlowsBalance SheetIncome StatementOther Information:IndustryCompetitorsNational economyFinancial statements are just on
22、e source of financial accounting information.认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目The Use of Financial Statements by External PartiesCreditorsInvestorsTwo concerns:LiquidityProfitability认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目The Need for Adequate DisclosureN
23、otes to the financial statements often provide facts necessary for the proper interpretation of the statements.Income StatementBalance SheetStatement of Cash Flows认识到了贫困户贫困的根本原因，才能开始对症下药，然后药到病除。近年来国家对扶贫工作高度重视，已经展开了“精准扶贫”项目Managements Interest in Financial StatementsTake action to improve areas of weak performanceThe ability to obtain funds Strong statement of financial positionStrong income statementStrong statement of cash flowsWindow dressing occurs when management takes measures to make the company appear as strong as possible in it financial statements.