ACCT6002_International Accounting_2010 Semester Winter_Lecture 1 introdcution to INTERNATIONAL ACCOU

ACCA 考点解析 | 财务报表分析财务报表分析财务报表分析是 F7 的一个考点， F7 考生不仅需要学会编报表，还要学会翻译报表。

大部分同学对编报表和计算指标没什么问题，但对翻译报表还是有些问题的。

一些考生在考试中只会解释指标是如何变化的，却不会去 discuss 指标变化的背后的原因。

这篇文章就是帮助考生去回答 F7 中财务报表分析的问题。

同学们首先要记到的一点就是一定要结合 case 来做答，在推测指标变化的原因时，一定要结合 case 所给的信息去寻找指标变化的原因。

比如说题目中有涉及到企业进行重估值，收购，处置固定资产等业务的，同学们在进行财务报表分析时都需要结合起来，因为这些都是会引起财务绩效指标变化的重要因素。

财务报表分析通常是从 4 个方面： profitability, liquidity, gearing 和 investment 进行分析的。

下面小编将会从这四个方面解释 F7 中一些相关的指标并且解释这些指标的变动意味着什么。

Profitability (分析企业的盈利情况)ROCE=Profit before interest and tax/Equity+DebtROCE 是首要的利润指标用来分析企业的盈利情况。

通常情况下， ROCE 的升高被看作是一个好的迹象。

寻找引起 ROCE 的变动原因通常被分为两个方面：一个是 profit margin, 另一个是asset turnover 。

因为 ROCE=profit margin * asset turnover 。

也就是说， ROCE 的提高可能是因为企业更加盈利了 (margin 的提高) ，也可能是因为企业能够更加有效的使用资产了 (asset turnover 的提高)。

更深入的分析可以对 Profit margin 和 Asset turnover 指标进一步进行分析。

Profit marginsGross profit margin=Gross profit/Revenue由公式可看出， Gross profit margin 变化的原因通常是由于销售价格，销量和成本变动所导致的。

财务分析是以会计核算和报表资料及其他相关资料为依据，采用一系列专门的分析技术和方法，对企业等经济组织过去和现在有关筹资活动、投资活动、经营活动、分配活动的盈利能力、营运能力、偿债能力和增长能力状况等进行分析与评价的经济管理活动。

它是为企业的投资者、债权人、经营者及其他关心企业的组织或个人了解企业过去、评价企业现状、预测企业未来做出正确决策提供准确的信息或依据的经济应用学科。

下面是网友推荐的优秀的财务分析学习资料：《运用财务报表进行企业分析与估价》，克里舍・G・佩普/ 克里舍·G·佩普/ 中信出版社/ 2004-1-1《财务报表分析与证券投资》，姜国华/ 北京大学出版社/ 2008-9《财务报表分析与证券投资》本着价值投资的，从证券分析师的角度开展财务报表分析，并据此进行未来盈利预测和股票价值评估，在价值评估的基础上做出投资决策。

《财务报表分析与证券投资》同进对盈余操纵和盈余的时间序列特征做了深入介绍。

通过《财务报表分析与证券投资》的系统学习，读者可以建立一套基于Excel的股票价值评估体系，并写作一份符合投资界规范的分析师报告。

《财务报表分析与证券投资》适用对象为对基于财务报表分析的证券投资感兴趣的人士，同时适合高等院校开设财务报表分析课程使用。

《财务报表分析与运用》，怀特等著，杜美杰，陈宋生改编/ 杜美杰;陈宋生/ 中国人民大学出版社/ 2007-3《财务报表分析与运用》（第3版）内容简介——随着我国加入WTO，越来越多的国内企业参与到国际竞争中来，用国际上通用的语言思考、工作、交流的能力也越来越受到重视。

这样一种能力也成为我国各类人才参与竞争的一种有效工具。

国家教育机构、各类院校以及一些主要的教材出版单位一直在思考，如何顺应这一发展潮流，推动各层次人员通过学习来获取这种能力。

双语教学就是这种背景下的一种尝试。

《财务分析案例: 公司战略、业绩预测与商业估值――财务分析理论与实务丛书》，胡奕明/ 清华大学出版社/ 2006-7《财务分析案例:公司战略业绩预测与商业估值》适合对象有两类：一类是与投资有关的人士，如证券公司、基金公司的证券分析师、投资主管、基金经理，以及银行从事信贷分析的人员，企业从事投资、收购兼并的人员等；另一类是高校相关专业的师生，特别是金融专业和会计专业的教师、研究生、MBA和EMBA学生，以及金融研究机构的研究人员。

Course Introduction《Financial Analysis & Valuation》Course Name：Financial Analysis & Valuation Course Code：Prerequisites：Accounting, intermediate financial accounting, financial management, etc.Follow-up Courses：NoBilingual Teaching or Not：NoCredits：3.0 Total Credit Hours：48Lecture Hours：48 Experiment Hours：0Programming Hours：0 Practice Hours：0School：School of businessTarget Major：AccountingCourse DescriptionAs an economic applied subject of financial analysis and company valuation, which is generally accepted by the theoretical and practical circles, it plays an important role in the business operation. This course is an economic application subject that studies how to use a series of special analysis techniques and methods to analyze and evaluate based on accounting, report materials and other relevant materials. It is a course for students majoring in accounting to learn how to carry out different analysis from different relevant analysis subjects, and also to cultivate students' ability to solve practical financial problems with comprehensive accounting knowledge Key courses. Through the teaching and learning of this course, students can master the basic theories and methods of financial analysis, make clear how to read and analyze financial statements as financial analysts or analysts, and learn to use different methods of company value evaluation to achieve the basic requirements of accounting professionals.Course ResourcesTextbooks：Zhang Xianzhi, Chen Youbang. Financial analysis [M]. Dalian: Northeast University of Finance and Economics Press, 2019.Bibliography：1. Lin Xiuxiang. Financial report analysis: application perspective [M]. Dalian: NortheastUniversity of Finance and Economics Press, 2017.2. Wang Huacheng. Analysis of financial statements (Second Edition) [M]. Beijing: PekingUniversity Press, 2014.3. Wang Shuping, Wang Rong. Financial report analysis (4th Edition) [M]. Beijing: TsinghuaUniversity Press, 2016.4. Yu Jiuhong, Guo Baolin, song Lei, Xing hailing, Li He. Financial analysis theory, practice andcase [M]. Beijing: Tsinghua University Press, 2016.5. Song Chang. Financial analysis (4th Edition) [M]. Beijing: Renmin University of China Press,2018.Reading Materials：1. Relevant case data;2. Relevant financial network information, such as Sina Finance, Dongfang fortune, etc.。

2010年国际内审师考试辅导：经营分析和信息技术财务会计与财务（18）-国际内审师资本成本评估在本部分，我们主要复习以下一些内容：债务成本，优先股成本，留存收益成本，普通股成本，资本的加权平均成本。

公司的资本成本就是支付给投资者的证券收益或者说投资者要求的收益。

与其它资源一样，资金也是有成本的。

资本成本是所使用各种长期资金来源的平均成本。

债务成本债务成本的计算公式为KD.（1－T）。

KD.是负债的利息率，T是公司的边际税率。

【例题】对于一家公司而言，负债的边际成本被定义为（列A.）负债的利率减去（列B.）：列A.列B.A.新的公司的边际税率B.未偿还的公司的边际税率C.新的利率乘以公司的边际税率未偿还的利率乘以公司的边际税率【答案】C【解析】债务的边际成本计算方法（新的债务成本利率）×（1－边际税率）优先股成本优先股成本（Kp）等于优先股股利（D.p）除以净发行价格（Pn）。

优先股成本为Kp＝D.p/Pn。

优先股股利因为要在计算所得税之后才支付，所以不像债务的利息费用一样有节税作用。

122018年中考英语作文万能模板【三篇】True True True True★范文一假设你叫Liu Yan，初中三年，你与同学们在一起学习、参加各种活动，相互帮助，彼此之间建立了深厚的友谊.校园网的英语论坛开辟了“Thank you letter”专栏.请按下面的要求给你的同学Ling Feng写一封感谢信.注意：1.这封信要表达你对Ling Feng的感谢;2.信中要简述感谢Ling Feng的原因，适当举例，并谈谈自己的感受;提示词语：thank you, at the end of , kind, forget, help…with, stay in touchDear Ling Feng,I would like to thank you at the end of our middle school education. You have been very kind and helpful since we knew each other.You have given me so much help that I will never forget. Last term, I caught a bad cold and had to stay at home for a week. When I was worrying about the lessons, you came to my home after school and helped me with every subject. With your help, I didn’t fall behind others. Since then, we have become very close friends. I think I’ll try to help others just like you.Thank you again. Even though we may go to different schools, I’ll always stay in touch with you. I wish you success for the future.Yours,Liu Yan★范文二Most of us spend one or two hours on sports one week, some do less than one hour. As for me, most of my sports time is for running. Sometimes playing basketball with my friends is also fun for me. I think it’s necessary for everyone to go out to do sports because it’s good for our health and study. And I’d love to take part in the summer camp. First we’d better hold some parties with foreign students in order to know each other better. Next we can visit some museums, places of interest to open our eyes. Finally I hope we will have a chance to live in foreign families. I think it’s a good way to understand the different cultures between different countries.I really want to make friends with foreign students because we’re in the same world. At the same time, the activities can help us relax ourselves after the examinations and improve our English.★范文三一家英文报社正在举办征文活动，请你积极参加.题目是“一次难忘的运动会”.内容要求：你或你的朋友参加了什么项目，结果怎样，感觉如何?提示词语：year, take part in, field event (relay race, high jump, long jump, shot put, excited, take the first prize.This year, I took part in the relay race, I was running the last lap. It was the final event on sports meet. Everyone was paying attention. All the runners got ready at the starting line.As soon as the race began, everyone was too excited to stop cheering. When it was my turn, I could feel the Class 4’s runner catch up with me. So I try my best to run faster, finally, our class won the first prize in the most exciting event.I was happy that I won another prize for my class. This is the most unforgettable sports that I had.中考英语作文万能模板汇总【三篇】True True True 【范文一】With the development of the Internet, many people are used to shopping online. It has become a fashion in our daily life. Some of us students also join the group.Shopping online has many advantages. Just by a click of the mouse, you can buy what you’re interested in without going outdoors. You can avoid getting tired and being trapped in the crowded people and cars and save time. When shopping online, you can choose from more varieties of goods, whose prices are generally lower.Every coin has two sides. Its disadvantages are obvious, too. On the one hand, it’s very easy for you to buy goods different from the pictures you see on the Internert. On the other hand, shopping online may cause people to buy goods that are not badly needed. That’s a waste of money.All in all, I love shopping online.True True True【范文二】Would you like to live in school? We had a survey about it and here’s the result. Most students prefer to live in school because they find it convenient to communicate with their classmates. Also, they can learn how to look after themselves in this way.However, some students think living at home is a better choice. The main reason is that they can relax better at home. Besides, they can spend more time with their family members and get on better with them.As for me, I’d like to live in school. That’s because I can spend more time on study. What’s more, it’s a wonderful experience to live with other classmates.True True True 【范文三】Dear Mike,How are you? I’m really glad that you are interested in traditional Chinese festivals. There are many traditional festivals in China, such as Spring Festival, Mid-Autumn Day and so on. I’d like to introduce the Spring Festival to you. Spring Festival is the most important traditional holiday in China. It usually lasts for 15 days.Days before the festival, people clean their houses. They think cleaning sweeps any bad luck. They decorate their houses with paper cuts. On the eve of the festival, family members get together and have big meals. Then they watch the Spring Festival Gala on TV. At midnight, they set off fireworks to welcome the New Year. During the festival, kids get lucky money from old people. People visit their relatives and friends. They wish each a happy year and good luck. How happy we are.Best wishes!。

Chapter 16: financial reporting and disclosuremembership1.Become a memberS 231(b): Members must agree to become members and have their names entered on the register of members.S 117(2)(c): The application for registration of a company must state the name and addresses of each person who consents to become a member.Required information:Ss 168(1)(a)/s169: All companies must set up and maintain a register of members containing prescribed information about the shareholders and the shares they own.Location:S172: The register of members must be kept at the registered office, the principle place of business, the place where the work involved in maintaining the register is done or a place approved by ASIC.Right of inspectionS173(1): A company must allow anyone to inspect its share register.S173(2): Shareholders may inspect the register without charge.Prohibited use of register information:S 177(1): A person must not use or disclose information obtained from a register to contact shareholders or send material to shareholders.S177(1B): Contraventions of s177(1) is an offence of strict liability.S177(2): A person who contravenes s 177(1) also liable to compensate anyone who suffers loss or damage as a result of the contraventions.S177(3)(4): The company can claim any profit made by a person as a result of a contravention. Exception:S177(1)(A): A person can use information obtained from a register to contact or send material to shareholders if the use or disclosure of the information is:Relevant to the holding of the shares recorded in the register or the exercise of the rights attaching to them; orApproved by the company.IMF(Aust) Ltd v. Sons of Gwalia LtdHeld: was not permitted by s177(1)(A)National Exchange Pty Ltd v. ASICHeld: s 177(1A) permits a person to use a share register to obtain shareholders’name and addresses so as to send them offers to buy their share. The use of the register for this purpose may, however, be abused.2.Significance of registerS 176: In the absence of evidence to the contrary, a register is proof of the matters shown in it.Re Clifton Springs Hotel Ltd VLR 27Held: Was a member because his name was entered in the register although no notice of allotment or acceptance was sent.Sung Li Holdings v. Medicom Finance Pty LtdHeld: Where the register is altered in contravention of the constitution, the entry in the register is void and the transferor remains the legal owner of the shares.Correction of register:S 175(1): A company or a person aggrieved may apply to the court to correct a register kept by the company.McLaughlin v. Daily Telegraph Newspaper CoS 175(2): The court may order the company that the register be corrected and also that the company compensate the applicant for loss or damage suffered.S 175(3)：Where a register is corrected by order of the court, the company must lodge notice of the correction with ASIC.Minor as Members (pp203)Disclosure of interests in sharesS 1072(E): No notice of trust must be entered on a register and company is not regarded as recognizing the existence of any trust.S 1072(E)(9): A company may, however, consent to marking its register in such a way as to identify that the shares are held by a trustee.S 1072E(11): In the case of proprietary companies, a person who holds shares as a trustee for a body corporate must notify the proprietary company of that fact.The substantial shareholding provisions and the tracing beneficial ownership provisions of the Corporate Act are exceptions to the general rule and may require a person who holds shares in a listed company as a trustee to disclose that the fact to the company or to disclose the identity of the beneficiaries.Ss 671-671C: Aim to promote an informed market for shares of listed companies. The provisions oblige persons entitled to not less than five per cent of the voting shares of a listed company to disclose to the company full particulars of their entitlement in the shares.3.Share CertificatesS 1070C(2): A share certificate is prima facie evidence of the title of a member to the number of shares specified. Where a share certificate has been duly issued but the shareholder’s name has not been entered in the register of members, the shareholder may be a member for the purpose of an application under s 232.Liability of company for issue of incorrect share certificate:A share certificate is not a contractual document but merely a certification by the company of the information contained. Once a share certificate has been issued by the company and someone changes position in reliance on it, the company is estopped or prevented from denying the truth of its contents.Re Bahia and San Francisco Rail CoEstoppel may arise where a purported transfer of shares is later found to be invalid.Daily Telegraph Co v. CohenIf a certificate states that a shareholder has fully paid shares when in fact they are partly paid, the company is also estopped from denying that they are full paid. This means that the company is unable to make a call on the shares: Burkingshaw v Nocholls4.Transfer of sharesS 1070A(1): Shares are transferable as provided by the company’s constitution.S 1072G: Gives directors of proprietary companies a discretion to refuse to register a transfer for any reason.S 1071B(2): prohibits a company, notwithstanding anything in its constitution, from registering a transfer unless a “proper”instrument of transfer has been delivered to the company. An “instrument of transfer” documents the transfer of ownership of shares from a member to another person.S 1072F(2): the directors are not required to register a transfer unless the transfer and any share certificate has been lodged at the company’s registered office.S 1072F(1): The transferor remains the holder of the shares and a member until the transfer is registered and the name of the transferee is entered in register of members.5.Refusal to register transfer or transmission of sharesS 1072G: provides that directors of a proprietary company have the power to refuse to register a transfer of shares for any reason.6.Liabilities of membersS 516: The liability of members of a company limited to the amount, if any, unpaid on their shares. S515: On the winding up of a company, s 515 provides that every present and past member is liable to contribute the property of the company to an amount sufficient for payment of its debt, costs of winding up and adjustment of rights as between its contributories.S 521: A past member who has ceased to be a member for more than one year prior to commencement of winding up is not liable to contribute.1. Duty to keep financial recordss286(1):all companies must keep written financial records that correctly record and explain its transactions, financial position and performance, such as to enable true and fair financial statements to be prepared and auditedcompany transactions must be properly explained by appropriate entries in the general ledger and general journal with clear explanatory narratives - rf: Van Reesema v Flavel (1992) 10 ACLC 291 - held that accounts written up by a director after the company was placed in liquidation did not satisfy the requirementss286(2): financial records must be retained for 7 yearss288: records may be kept in electronic forms289(1): records may be kept wherever the company chooses, provided that adequate details are maintained in Australia.2. Annual Financial ReportObligation to prepare annual financial reports292(1): public and large proprietary companies must prepare a financial report and a directors report for each financial years292(2): Small proprietary companies not required to prepare a financial report unless directed to do so by members holding not less than 5% of votes in accordance with s293s292(2): ASIC may direct Small proprietary companies to prepare a financial report in accordance with s294Content of annual financial reports295(3):notes must include disclosures required by regulations, notes required by AAS and any other information necessary to give a true and fair views295(4): specifies requirements for directors declarations295(5): directors’declaration must be signed by directors and be made in accordance with a resolution of the directors3. Australian financial reporting systemAustralian Accounting S tandards BoardAASB is a statutory body corporates227(1) ASIC Act: AASB's functions include developing a conceptual framework for evaluating accounting standards, making accounting standards and participating in development of world wide accounting standardsStandards Setting frameworks334 Corporations Act: AASB may make accounting standards for the purposes of the Corporations Acts227(1)(c) ASIC Act:AASB may make accounting standards for the public sector and non- Corporations Act entitiess227(3) ASIC Act:AASB may make an accounting standards by issuing an international accounting standards4. T rue and fair views297: the annual financial statements and notes must give a true and fair view of the financial position and performance of the company.s295(3)(c): additional information must be included in the notes to the financial statements if the financial statements and notes prepared in accordance with accounting standards would not give a true and fair view.It is generally accepted that financial statements provide a true and fair view if they have beenprepared in accordance with widely accepted contemporary accounting methods.5. Directors' Reports299(1): general information must include:•review of company's operations•details of significant changes in company's affairs•overview of company’s principal activities•any post-balance date matters or circumstances•likely future developments and expected results•environmental performance, if relevant6. Duty of annual financial reporting to memberss314: company must send to members copies of the annual financial, directors' and auditors' reportss314(1)(b): company may send a concise reports316(1)(b): members who are sent a concise report may request a full reports316(1)(a): members may elect not to be sent reports7. ASIC Lodgement of Reportss319(3)(b): full and concise reports must be lodged with ASIC within 4 months of the end of the financial years319(3)(a): disclosing entities and registered schemes must lodge their reports with ASIC within 3 months of the end of the financial years320: disclosing entities must lodge half-yearly reports with ASIC within 75 daysAuditors1. When must an auditor be appointed?s327A:directors of public companies are required to appoint an auditor within 1 month of incorporation unless the members have appointed one in general meet ings327A: first auditor holds office until first AGMs327B: auditors must be appointed or re-appointed at AGMs325: directors of a proprietary company may appoint an auditor if the members have not already appointed one in general meetings293(3)(c): small proprietary company 's are required to appoint an auditor only if either ASIC or 5% of members direct the company to prepare an audited financial reportASIC’s audit relief for large proprietary companies:ASIC PS 115: circumstances in which ASIC may grant relief from the requirement to appoint an auditor include•the passing of unanimous resolutions of directors and shareholders•evidence that the company has in place adequate procedures to assess solvency, including the preparation of quarterly management accounts2. Who may be an auditor?s324AA: an auditor may be a company, individual or partnerships324BA: an auditor must be registereds1279: an application may be made to ASIC for registrationS1280(2A and 2B): sets out requirements for registration including membership of ICA, CPA or other prescribed body, degree from Australian university and practical experiencereg 9.2.04: work experience of no less than 3 years under a registered company auditor and 1 years supervision of auditss1280(3): persons disqualified from managing corporations cannot obtain registration3. Auditor independence – conflict of interest situations324CA: an auditor may not proceed with an audit if a conflict of interest situation arisesa conflict of interest situation arises if the auditor (or a reasonable person would conclude that the auditor) is not capable of exercising objective and impartial judgment in relation to the conduct of the auditA“conflict of interests” is taken to exist in relation to an audited body if circumstances exist that: (1)is not capable of exercising objective and impartial judgment in relation to the conduct of the audit of the audited body;(2) a reasonable person would conclude…S324CD(1)s324CA(2)(4) and (5):A contravention also occurs where a conflict of interest situation exists even though an individual auditor, audit firm or audit company was not aware of the existence of the conflict of interest situation but they would have been aware had a quality control system (ie: conflicts register) been in place which was reasonably capable of making them aware of the existence of the conflict of interest.4.Auditor independence – Impermissible Relationshipss324CE/CF/CG:prevents auditors undertaking audits where a range of restricted relationships existTwo categories of relationships: employment and financialS324CI: retiring partners may not join an audited company for 2 yearsS324CJ：prohibits any more than one former partner of an audit firm or director of an audi company being an officer of an audited body or related entity.S324CH: Relevant relationships5.Auditor independence – auditor independence declarations307C(1):declaration must be given by an auditor to the audited company declaring that the independence requirements of the Act have been complied with6.Auditor independence – rotation requirementsSS324DA-DD:after 5 years, must take a 2 year break and no more than 5 years in any 7 year period (pp456)7. Auditor independence – disclosure of non-audit servicesS300(11B): disclosure of non-audit services by a company in the annual report detailing amounts paid by a company and a statement that audit services not compromised8. Removal and resignationRemoval:S327b(2): an auditor holds office until death, removal, resignation or otherwise ceasing to be an auditorGeneral rule: an auditor cannot be removed by the directors of a company, only members in general meeting.S329(1): An auditor may be removed from office only by resolution of the company at a general meeting to remove an auditors249H(4): 21 days notice of meeting must be given to membersS329(2): notice of intention to remove must be served on auditor and lodged with ASIC Resignation:S329(6): application must be made to ASIC for consent, stating reasonsS329(11):reasons stated cannot be used in any legal proceedings or as the basis of an action against the auditorS327(10): The company may appoint another auditor at that meeting by a resolution passed by at least a three-quarters majority.9. Auditor’s duties to the companyContractualExpress or implied terms in the contractual arrangement:(i) carry out the audit(ii) report to members(iii) be independent; and(iv) exercise a reasonable degree of skill and careStatutorys308(1): auditor must report to members expressing an opinion as to the compliance of the annualfinancial report with the Act (ss296 and 297)s302(b): an auditor of a disclosing entity must carry out either an audit or review of the half-year financial reportss311: an auditor must notify ASIC immediately of a serious contravention of the ActASIC PN 34:serious contraventions include breaches of directors' duties, financial benefits to related parties, failure to keep proper financial recordss250RA: auditors of listed companies must attend AGMs249V: auditors of non-listed companies are entitled to attend AGMDuty to Carry Out AuditS308(1): in accordance with auditing standardsAuditors are entitled to seek assistance from the company’s directors, accountants and other employees in carrying out their functions. However, breach of their duty if they rely on them for information on which they are required to form their own independent opinion.Dominion Freeholders Ltd v. AirdProcedure to assist in the detection of errors or fraud - Pacific Acceptance Corporation Limited v Forsyth(1970) 92 WN (NSW) 29 –Held: In carrying out an audit, particularly where the company’s accounts are complex, an auditor is required to devise procedures and a program to assit in the detection of error or fraud.not entitled to rely on accuracy of information provided by the company –Dominion Freeholders v Aird (1966) 2 NSWLR 293 – Held: The application by the auditor was rejected because he was not entitled to rely on the information provided by the accountant. Such reliance was a breach of duty to the company as the auditor was required to come to an independent conclusion. The auditor could not shed responsibility by holding the accountant liable.Duty to Detect and Report DefectsAn auditor is appointed to safeguard the interests of membersS 308(3)(a): report must describe any defect or irregularity in the financial reportsAS AUS 210:sets out basic principles and essential procedures in relation to material misstatements as the result of errors or fraudAn auditor has no duty to prevent fraud, but has a duty to investigate irregularities and report them - Arthur Young & Co v WA Chip & Pulp Co Pty Ltd (1987) ACLC 496Held: failure to bring irregularities concerning personal expenditure of CEO to the attention of superiors rather than just person concerned constituted negligenceAn auditor is under a duty to report irregularities regardless of materiality immediately to the board and not just in the report - rf: Pacific Acceptances311: auditor is required to report serious matters to ASICAuditor must ensure that reported irregularities are acted on - rf Daniels v Anderson(1995) 13 ACLC 614 - held that if management failed to act, auditors were under a duty to report irregularities to the boardDuty to Use Reasonable Care and SkillAuditor may be liable in contract, tort and statuteA high standard is now requiredHistorical formulation - an auditor is a watchdog, but not a bloodhound - rf: Re Kingston Cotton Mill Co(No. 2) (1896) 2 Ch 279, held that an auditor is entitled to assume that company executives are honestDue skill and care requires a more searching and critical approach than it used to - rf: Pacific AcceptanceA wareness of critical facts concerning foreign exchange trading which were not communicated tothe board constituted a lack of reasonable care and skill - Daniels v AndersonAuditor liable to pay damages to the company:Principles of causation apply- rf: Daniels v Anderson - held that failure to warn board of irregularities denied it the opportunity to avoid foreign exchange lossescf: Alexander v Cambridge Credit Corp Ltd (1987) 5 ACLC 587 - negligence of auditors would not have prevented losses which were attributable to economic conditionsPrinciples of mitigation of damages apply - rf: Segenhoe Ltd v Akins (1990) 8 ACLC 263 - held that company not obliged to sue for recovery of dividends paid from capital as the result of auditors' negligences199A: a company must not indemnify an auditorDefence: Members in general meeting may ratify an auditors’ breach of dutyDefencesContributory NegligenceUnder the tort of negligence, it is clear the defence of contributory negligence can be relied on. Under contract law:In Daniels v Anderson, the board and management were partly responsible because they had failed to implement control systems and supervise the activities of Koval and had failed to heed warnings of auditorsContribution and Proportionate LiabilityLiability only for actual damage caused, irrespective of the existence of joint tortfeasors10. Liability of auditors to particular shareholders and outsidersUnder contract law, it is only the company that can sue the auditor.The third parties may be able to sue auditors in an action for the tort of negligence if they can establish that the auditor owe them a duty of care in carrying out the audit and in making their report.An auditor will owe a duty to a third party if it was foreseeable that the audit report would be communicated to the third party and relied on to make a particular investment decision - rf: Esanda Finance Corp Ltd v Peat Marwick Hungerfords (1997) 15 ACLC 483Held that Esanda was a well-informed creditor and could have taken steps to avoid the risk of loss by making its own enquiries.A third party must establish a relationship of proximity between the maker of the statement and the third party. Such a relationship could arise if the negligent misstatement was supplied at the request of the third party; or if the maker of the statement intended to induce the third party to act on the statement.s52 Trade Practices Act 1974 or equivalent state legislation may provide a more convenient cause of action for third parties: No intention to mislead or deceive is required.Proportionate liability of auditors:ASICAct S12GF(1)S1041Trade Practices Act: S52Chapter 17 Debentures and loan capital and Charges1. Requirement for trust deed and trustee for debenture-holderss283AA: a body must enter into a trust deed and appoint a trustee before making an offer of debentures which requires disclosure under Ch 6Ds283AB: trust deed must state that the trustee may on behalf of the lenders enforce the borrow er's duty to repay, enforce any charge or security or any other obligations the borrower hass283AC: restricts the entities that may act as trusteess283GB: ASIC may approve a body to act as a trustee2. Borrower’s and guarantor’s dutiess283BB: borrower must carry on and conduct business in a proper and efficient manner and make all its financial and other records available for inspections283BC-BF: borrower must notify ASIC of trustee, replace the trustee if necessary, inform the trustee of any changes and give the trustee quarterly reportss283CB-CC: guarantor must carry on and conduct business in a proper and efficient manner, make all records available and notify trustee of any changess283BI-CE: borrower and guarantor subject to criminal sanctions for contravention of duties3. T rustee’s dutiess283DA: trustee duties include exercising reasonable diligence to ascertain whether the property of the borrower and of each guarantor will be sufficient to repay the amount deposited or lent when it becomes due and to monitor breaches of the trust deed4. Statutory rights of debenture-holderss318: borrower to give trustee financial, directors' and auditors reportss313: borrower's auditor must provide to trustee a copy of borrower's audit report and a report on any other matters prejudic ial to the debenture holders interests within 7 days of the auditor becoming aware of the matters283EA:debenture holders with 10% or more of nominal value of the issued debentures may direct the borrower to call a meeting of debenture holderss283EB(1): trustee may call a meeting of debenture holders5. Fixed and floating chargesDistinction between fixed and floating chargesEvans v Rival Granite Quarries Ltd (1910) 2 KB 979Held: a floating charge is a present security affecting all of the assets in the class to which it applies, but not a specific securityCharacter of the charge will depend on the intention of the partiesUnited Builders Pty Ltd v Mutual Acceptance LtdHeld: if the company is able to deal with the assets in a particular class in the ordinary course of business without consulting the lender, the charge is floatingDifficulties arise in relation certain classes of assets such as book debtsWhitton v ACN 003 266 886 (1996) 14 ACLC 1799Held: charge over book debts was fixed because company was prohibited from dealing with book debtsAgnew v Commissioner of Inland RevenueHeld: a charge over book debts was floating even though described as fixedA floating charge enables the borrowing company to dispose of the charged property in the ordinary course of its business without obtaining the lender’s consent.Reynolds Bros (Motors) Pty Ltd v Esanda LtdHeld: transaction is in the ordinary course of business if made for the purpose of carrying on the business. transfer of tractors to another lender to satisfy a breached lien was in the ordinary course of businessFire Nymph Products Ltd v The Heating Centre Pty LtdHeld: transaction is not in the ordinary course of business if not made for the purpose of carrying on the business. an agreement between a supplier and distributor of heaters pursuant to which the supplier sought to recover ownership of the heaters and then appointed the distributor to sell them as an agent at cost price6. Crystallization of floating chargesA floating charge crystallises on winding up or cessation of business or on default in payment. Deeds of charge normally provide for the appointment of a receiver.Chapter 19: Share capital1. Reduction of share capital (Prohibited)The rule in Trevor v Whitworth: a company is generally prohibited from reducing its issued share capital because a reduction in capital because a reduction in capital would prejudice the rights of creditors. the law does not expect that capital will be returned to shareholders before creditors. Trevor v WhitworthHeld: a company had no power to purchase its own share even if its articles permitted such an acquisition. The purchase was void, Whitworth’s claim for the balance failed.Self acquisition prohibition: s259A:a company may not acquire shares in itself, with limited exceptions.(Exceptions: buyback under s257A/ s259B(2)(3) deal with the situation where a company takes security over its shares under an approved employee share scheme or the security is taken in the ordinary course of business of a lender.)When a company contravenes the s259A: s259F(3): the transaction is not affected; the company is not guilty of an offence; a person is subject to the civil penalty provisions if their involvement was dishonest2. Reduction of share capital (permitted)s256B(1)(a):a permitted reduction of capital must be fair and reasonable to the company’s shareholders as a whole.Focus on to the company as a whole; expropriation of the shares of a minority may be fair and reasonable: Winpar Holdings Ltd v Goldfields Kalgoolie LtdHeld: a selective reduction of capital that involved the cancellation of shares of the minority and payment 8 cents above market value was fair.s256B(1)(b): a reduction of capital is permitted if it does not materially prejudice the company’s ability to pay its creditors.s1324(1A): creditors have standing to apply for an injunction in circumstances where a proposed reduction of capital affects their interestss1324(1B): onus of proof is on the companys245C(5): notification of proposed capital reduction must be lodged with ASIC in order to give creditors an opportunity to assess their interestss256B(1)(c): permits a capital reduction if it is approved by shareholders under s256C.s256C: an ordinary resolution is required for an equal reduction; a special resolution for a selective reductions256C(2): special resolution of shareholders affected as well as a special resolution at a general meetings256C(4): statement setting out all known information material to the decisions256D(1): A company must not reduce its capital unless it complies with the requirements set out in s256B(1).If failed to comply with reduction requirements:s256D(2): does not affect the validity of the reduction and does not constitute an offence by the companys256D(4): a person commits an offence if they are dishonestly involveds1324: court may grant an injunction on the application of a person affected, including a creditor3. permits a company to buy back its own shares257A: if it does not materially prejudice the company's ability to pay its creditors and the company follows the requirements of s257A-s257JReasons for permitting share buy-backs: gives shareholders the option of receiving capital gains rather than dividends, increased mobility of capital and a more competitive price environmentS257B contains five types of buy-backs: equal access, selective, on-market, employee share scheme and minimum holding。

国际会计分录Account 帐户Accounting system 会计系统American Accounting Association 美国会计协会American Institute of CPAs 美国注册会计师协会Audit 审计Balance sheet 资产负债表Bookkeepking 簿记Cash flow prospects 现金流量预测Certificate in Internal Auditing 内部审计证书Certificate in Management Accounting 管理会计证书Certificate Public Accountant注册会计师Cost accounting 成本会计External users 外部使用者Financial accounting 财务会计Financial Accounting Standards Board 财务会计准则委员会Financial forecast 财务预测Generally accepted accounting principles 公认会计原则General-purpose information 通用目的信息Government Accounting Office 政府会计办公室Income statement 损益表Institute of Internal Auditors 内部审计师协会Institute of Management Accountants 管理会计师协会Integrity 整合性Internal auditing 内部审计Internal control structure 内部控制结构Internal Revenue Service 国内收入署Internal users 内部使用者Management accounting 管理会计Return of investment 投资回报Return on investment 投资报酬Securities and Exchange Commission 证券交易委员会Statement of cash flow 现金流量表Statement of financial position 财务状况表Tax accounting 税务会计Accounting equation 会计等式Articulation 勾稽关系Assets 资产Business entity 企业个体Capital stock 股本Corporation 公司Cost principle 成本原则Creditor 债权人Deflation 通货紧缩Disclosure 批露Expenses 费用Financial statement 财务报表Financial activities 筹资活动Going-concern assumption 持续经营假设Inflation 通货膨涨Investing activities 投资活动Liabilities 负债Negative cash flow 负现金流量Operating activities 经营活动Owners equity 所有者权益Partnership 合伙企业Positive cash flow 正现金流量Retained earning 留存利润Revenue 收入Sole proprietorship 独资企业Solvency 清偿能力Stable-dollar assumption 稳定货币假设Stockholders 股东Stockholders equity 股东权益Window dressing 门面粉饰财会名词汉英对照表（1）会计与会计理论会计accounting决策人Decision Maker投资人Investor股东Shareholder债权人Creditor财务会计Financial Accounting管理会计Management Accounting成本会计Cost Accounting私业会计Private Accounting公众会计Public Accounting注册会计师CPA Certified Public Accountant 国际会计准则委员会IASC美国注册会计师协会AICPA财务会计准则委员会FASB管理会计协会IMA美国会计学会AAA税务稽核署IRS独资企业Proprietorship合伙人企业Partnership公司Corporation会计目标Accounting Objectives会计假设Accounting Assumptions会计要素Accounting Elements会计原则Accounting Principles会计实务过程Accounting Procedures财务报表Financial Statements财务分析Financial Analysis会计主体假设Separate-entity Assumption货币计量假设Unit-of-measure Assumption持续经营假设Continuity（Going-concern）Assumption 会计分期假设Time-period Assumption资产Asset负债Liability业主权益Owners Equity收入Revenue费用Expense收益Income亏损Loss历史成本原则Cost Principle收入实现原则Revenue Principle配比原则Matching Principle全面披露原则Full-disclosure （Reporting）Principle客观性原则Objective Principle一致性原则Consistent Principle可比性原则Comparability Principle重大性原则Materiality Principle稳健性原则Conservatism Principle权责发生制Accrual Basis现金收付制Cash Basis财务报告Financial Report流动资产Current assets流动负债Current Liabilities长期负债Long-term Liabilities投入资本Contributed Capital留存收益Retained Earning－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（2）会计循环会计循环Accounting Procedure/Cycle会计信息系统Accounting information System帐户Ledger会计科目Account会计分录Journal entry原始凭证Source Document日记帐Journal总分类帐General Ledger明细分类帐Subsidiary Ledger试算平衡Trial Balance现金收款日记帐Cash receipt journal现金付款日记帐Cash disbursements journal销售日记帐Sales Journal购货日记帐Purchase Journal普通日记帐General Journal工作底稿Worksheet调整分录Adjusting entries结帐Closing entries－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（3）现金与应收帐款现金Cash银行存款Cash in bank库存现金Cash in hand流动资产Current assets偿债基金Sinking fund定额备用金Imprest petty cash支票Check（cheque）银行对帐单Bank statement银行存款调节表Bank reconciliation statement 在途存款Outstanding deposit在途支票Outstanding check应付凭单Vouchers payable应收帐款Account receivable应收票据Note receivable起运点交货价F.O.B shipping point目的地交货价F.O.B destination point商业折扣Trade discount现金折扣Cash discount销售退回及折让Sales return and allowance 坏帐费用Bad debt expense备抵法Allowance method备抵坏帐Bad debt allowance损益表法Income statement approach资产负债表法Balance sheet approach帐龄分析法Aging analysis method直接冲销法Direct write-off method带息票据Interest bearing note不带息票据Non-interest bearing note出票人Maker受款人Payee本金Principal利息率Interest rate到期日Maturity date本票Promissory note贴现Discount背书Endorse拒付费Protest fee－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（4）存货存货Inventory商品存货Merchandise inventory产成品存货Finished goods inventory在产品存货Work in process inventory原材料存货Raw materials inventory起运地离岸价格F.O.B shipping point目的地抵岸价格F.O.B destination寄销Consignment寄销人Consignor承销人Consignee定期盘存Periodic inventory永续盘存Perpetual inventory购货Purchase购货折让和折扣Purchase allowance and discounts存货盈余或短缺Inventory overages and shortages分批认定法Specific identification加权平均法Weighted average先进先出法First-in, first-out or FIFO后进先出法Lost-in, first-out or LIFO移动平均法Moving average成本或市价孰低法Lower of cost or market or LCM市价Market value重置成本Replacement cost可变现净值Net realizable value上限Upper limit下限Lower limit毛利法Gross margin method零售价格法Retail method成本率Cost ratio－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（5）长期投资长期投资Long-term investment长期股票投资Investment on stocks长期债券投资Investment on bonds成本法Cost method权益法Equity method合并法Consolidation method股利宣布日Declaration date股权登记日Date of record除息日Ex-dividend date付息日Payment date债券面值Face value, Par value债券折价Discount on bonds债券溢价Premium on bonds票面利率Contract interest rate, stated rate市场利率Market interest ratio, Effective rate普通股Common Stock优先股Preferred Stock现金股利Cash dividends股票股利Stock dividends清算股利Liquidating dividends到期日Maturity date到期值Maturity value直线摊销法Straight-Line method of amortization实际利息摊销法Effective-interest method of amortization－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－- （6）固定资产固定资产Plant assets or Fixed assets原值Original value预计使用年限Expected useful life预计残?nbsp;Estimated residual value折旧费用Depreciation expense累计折旧Accumulated depreciation帐面价值Carrying value应提折旧成本Depreciation cost净值Net value在建工程Construction-in-process磨损Wear and tear过时Obsolescence直线法Straight-line method （SL）工作量法Units-of-production method （UOP）加速折旧法Accelerated depreciation method双倍余额递减法Double-declining balance method （DDB）年数总和法Sum-of-the-years-digits method （SYD）以旧换新Trade in经营租赁Operating lease融资租赁Capital lease廉价购买权Bargain purchase option （BPO）资产负债表外筹资Off-balance-sheet financing最低租赁付款额Minimum lease payments－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（7）无形资产无形资产Intangible assets专利权Patents商标权Trademarks, Trade names著作权Copyrights特许权或专营权Franchises商誉Goodwill开办费Organization cost租赁权Leasehold摊销Amortization－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（8）流动负债负债Liability流动负债Current liability应付帐款Account payable应付票据Notes payable贴现票据Discount notes长期负债一年内到期部分Current maturities of long-term liabilities应付股利Dividends payable预收收益Prepayments by customers存入保证金Refundable deposits应付费用Accrual expense增值税value added tax营业税Business tax应付所得税Income tax payable应付奖金Bonuses payable产品质量担保负债Estimated liabilities under product warranties赠品和兑换券Premiums, coupons and trading stamps或有事项Contingency或有负债Contingent或有损失Loss contingencies或有利得Gain contingencies永久性差异Permanent difference时间性差异Timing difference应付税款法Taxes payable method纳税影响会计法Tax effect accounting method递延所得税负债法Deferred income tax liability method－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（9）长期负债长期负债Long-term Liabilities应付公司债券Bonds payable有担保品的公司债券Secured Bonds抵押公司债券Mortgage Bonds保证公司债券Guaranteed Bonds信用公司债券Debenture Bonds一次还本公司债券T erm Bonds分期还本公司债券Serial Bonds可转换公司债券Convertible Bonds可赎回公司债券Callable Bonds可要求公司债券Redeemable Bonds记名公司债券Registered Bonds无记名公司债券Coupon Bonds普通公司债券Ordinary Bonds收益公司债券Income Bonds名义利率，票面利率Nominal rate实际利率Actual rate有效利率Effective rate溢价Premium折价Discount面值Par value直线法Straight-line method实际利率法Effective interest method到期直接偿付Repayment at maturity提前偿付Repayment at advance偿债基金Sinking fund长期应付票据Long-term notes payable抵押借款Mortgage loan－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（10）业主权益权益Equity业主权益Owners equity股东权益Stockholders equity投入资本Contributed capital缴入资本Paid-in capital股本Capital stock资本公积Capital surplus留存收益Retained earnings核定股本Authorized capital stock实收资本Issued capital stock发行在外股本Outstanding capital stock库藏股Treasury stock普通股Common stock优先股Preferred stock累积优先股Cumulative preferred stock非累积优先股Noncumulative preferred stock完全参加优先股Fully participating preferred stock部分参加优先股Partially participating preferred stock非部分参加优先股Nonpartially participating preferred stock 现金发行Issuance for cash非现金发行Issuance for noncash consideration股票的合并发行Lump-sum sales of stock发行成本Issuance cost成本法Cost method面值法Par value method捐赠资本Donated capital盈余分配Distribution of earnings股利Dividend股利政策Dividend policy宣布日Date of declaration股权登记日Date of record除息日Ex-dividend date股利支付日Date of payment现金股利Cash dividend股票股利Stock dividend拨款appropriation－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（11）财务报表财务报表Financial Statement资产负债表Balance Sheet收益表Income Statement帐户式Account Form报告式Report Form编制（报表）Prepare工作底稿Worksheet多步式Multi-step单步式Single-step－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－- （12）财务状况变动表财务状况变动表中的现金基础SCFP.Cash Basis（现金流量表）财务状况变动表中的营运资金基础SCFP.Working Capital Basis （资金来源与运用表）营运资金Working Capital全部资源概念All-resources concept直接:)业务Direct exchanges正常营业活动Normal operating activities财务活动Financing activities投资活动Investing activities－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－- （13）财务报表分析财务报表分析Analysis of financial statements比较财务报表Comparative financial statements趋势百分比Trend percentage比率Ratios普通股每股收益Earnings per share of common stock股利收益率Dividend yield ratio价益比Price-earnings ratio普通股每股帐面价值Book value per share of common stock资本报酬率Return on investment总资产报酬率Return on total asset债券收益率Yield rate on bonds已获利息倍数Number of times interest earned债券比率Debt ratio优先股收益率Yield rate on preferred stock营运资本Working Capital周转Turnover存货周转率Inventory turnover应收帐款周转率Accounts receivable turnover流动比率Current ratio速动比率Quick ratio酸性试验比率Acid test ratio（14）合并财务报表合并财务报表Consolidated financial statements吸收合并Merger创立合并Consolidation控股公司Parent company附属公司Subsidiary company少数股权Minority interest权益联营合并Pooling of interest购买合并Combination by purchase权益法Equity method成本法Cost method－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－－（15）物价变动中的会计计量物价变动之会计Price-level changes accounting一般物价水平会计General price-level accounting货币购买力会计Purchasing-power accounting统一币值会计Constant dollar accounting历史成本Historical cost现行价值会计Current value accounting现行成本Current cost重置成本Replacement cost物价指数Price-level index国民生产总值物价指数Gross national product implicit price deflator （or GNP deflator）消费物价指数Consumer price index （or CPI）批发物价指数Wholesale price index货币性资产Monetary assets货币性负债Monetary liabilities货币购买力损益Purchasing-power gains or losses资产持有损益Holding gains or losses未实现的资产持有损益Unrealized holding gains or losses现行价值与统一币值会计Constant dollar and current cost accounting。

====Word行业资料分享--可编辑版本--双击可删====附录B各章习题及部分习题答案APPENDIX B目录Contents第一部分公司理财概览第三部分未来现金流量估价第1章公司理财导论3 第5章估价导论：货币的时间价值39 概念复习和重要的思考题 4 本章复习与自测题40微型案例麦吉糕点公司 5 本章复习与自测题解答40第2章财务报表、税和现金流量6 概念复习和重要的思考题40 本章复习与自测题7 思考和练习题41本章复习与自测题解答7 第6章贴现现金流量估价43概念复习和重要的思考题8 本章复习与自测题44思考和练习题9 本章复习与自测题解答44微型案例Sunset Boards公司的现金流量和概念复习和重要的思考题46财务报表13 思考和练习题4652第二部分财务报表与长期财务计划微型案例读MBA的决策第7章利率和债券估价54第3章利用财务报表17 本章复习与自测题55本章复习与自测题18 本章复习与自测题解答55本章复习与自测题解答19 概念复习和重要的思考题55概念复习和重要的思考题20 思考和练习题56思考和练习题21 微型案例基于债券发行的S&S飞机公司的微型案例针对S&S飞机公司的财务比率扩张计划59分析24 第8章股票估价60第4章长期财务计划与增长27 本章复习与自测题61本章复习与自测题28 本章复习与自测题解答61本章复习与自测题解答28 概念复习和重要的思考题61概念复习和重要的思考题29 思考和练习题62思考和练习题30 微型案例Ragan公司的股票估价64微型案例S&S飞机公司的比率与财务计划35III第四部分资本预算第9章净现值与其他投资准绳69 第六部分资本成本与长期财务政策第14章资本成本111本章复习与自测题70 本章复习与自测题112本章复习与自测题解答概念复习和重要的思考题7071本章复习与自测题解答概念复习和重要的思考题112112思考和练习题73 思考和练习题113第10章资本性投资决策77 第15章筹集资本117 本章复习与自测题78 本章复习与自测题118本章复习与自测题解答概念复习和重要的思考题7880本章复习与自测题解答概念复习和重要的思考题118118思考和练习题80 思考和练习题120微型案例贝壳共和电子公司（一）85 微型案例S&S飞机公司的上市121 第11章项目分析与评估86 第16章财务杠杆和资本结构政策123 本章复习与自测题87 本章复习与自测题124本章复习与自测题解答概念复习和重要的思考题8787本章复习与自测题解答概念复习和重要的思考题124124思考和练习题88 思考和练习题125微型案例贝壳共和电子公司（二）第五部分风险与报酬第12章资本市场历史的一些启示95 91 微型案例斯蒂芬森房地产公司的资本重组127第17章股利和股利政策129概念复习和重要的思考题130本章复习与自测题96 思考和练习题130本章复习与自测题解答概念复习和重要的思考题思考和练习题97 9696微型案例电子计时公司133第七部分短期财务计划与管理微型案例S&S飞机公司的职位99 第18章短期财务与计划137第13章报酬、风险与证券市场线101 本章复习与自测题138 本章复习与自测题102 本章复习与自测题解答138本章复习与自测题解答概念复习和重要的思考题102103概念复习和重要的思考题139思考和练习题140思考和练习题104 微型案例Piepkorn制造公司的营运成本管微型案例高露洁棕榄公司的 值108 理145IV第19章现金和流动性管理147本章复习与自测题148本章复习与自测题解答148概念复习和重要的思考题148思考和练习题149微型案例Webb公司的现金管理150 第20章信用和存货管理151本章复习与自测题152本章复习与自测题解答152概念复习和重要的思考题152思考和练习题153微型案例豪利特实业公司的信用政策155第八部分公司理财专题第21章国际公司理财159本章复习与自测题160本章复习与自测题解答160概念复习和重要的思考题160思考和练习题161微型案例S&S飞机公司的国际化经营163 部分习题答案165PART 1第一部分公司理财概览====Word行业资料分享--可编辑版本--双击可删====第1章公司理财导论CHAPTER 14附录概念复习和重要的思考题1.财务管理决策过程财务管理决策有哪三种类型？就每一种类型，举出一个相关的企业交易实例。

SAP 会计科目自动分配配置大全1 Maintain Accounting Configuration(概览)Tcode: FBKA/FBKF/FBKP输入Tcode:FBKP 进入后,看到的是图1的画面,在此应该包含了所有的科目设置,设计思路很简单,SAP 要兼顾全球的财务需求,科目设置并没有hard-coded 允许企业根据实际需求和本国的会计准则为业务交易配置相应会计科目.当点击图1-[1]或图1-[3],进入自动过帐科目设置,在这里包含了各模块的配置,下面首先重点讲述MM 自动过帐的配置(OBYC),当真正明白了这些配置及其逻辑,相信你对SAP FICO 就2 Automatic Posting Configuration (MM Module)OBYC 的画面,如图3-[1],是根据企业实际需求自定义的Transaction Key ,下面就OBYC 自上而下个transaction key 举实际例子就常用的transaction key 和科目分配做详细描述.首先,必须定义科目分配的rule 如图4,即你要怎么样配置科目,如图4-[1]表示科目将按General modification|Valuation modif.|Valuation class 三者结合给定会计科目,如你还需要让交MM 科目transaction key 和科目配置详细列表(,幅原因,假设Valuation modif.只有一个所以在建立科目配置rule 时可以不考虑它,除非你使用了多个valuation modif.在科目配置时你必须考虑,请看例1:如何使用Valuation group code ). *关于transactin key 的描述请直接看OBYC,在此省略.Stock posting (BSX)This transaction is used for all postings to stock accounts. Such postings are effected, forexample:o In inventory management in the case of goods receipts to own stock and goods issues from own stocko In invoice verification, if price differences occur in connection with incoming invoices for materials valuated at moving average price and there is adequate stock coverageo In order settlement, if the order is assigned to a material with moving average price and the actual costs at the time of settlement vary from the actual costs at the time ofgoods receiptBecause this transaction is dependent on the valuation class, it is possible to manage materials with different valuation classes in separate stock accounts.CautionTake care to ensure that:o A stock account is not used for any transaction other than BSXo Postings are not made to the account manuallyo The account is not changed in the productive system before all stock has been booked out of itOtherwise differences would arise between the total stock value of the material master records and the balance on the stock account.Account determination of valuated sales order stock and project stockNote that for valuated sales order stock and project stock (special stock E and Q) and for thetransaction/event keys BSX and GBB, you must maintain an account determination to avoidreceiving warning messages when entering data (purchase order or transfer posting) forvaluated stock.During data entry, the system attempts to execute a provisional account determination for GBB for valuated stock. The system will only replace the provisional account determination for GBB with the correct account determination for the stock account (BSX), in the background, if youenter the data for valuated stock at a later point in time.例1:如何使用Valuation group codeValuation class 用来区分不同的物料:不同的原材料,不同的半产品,不同的在产品,不同的产成品首先请执行OX14,SAP默认的Valuation level(评估级)是plant级的,在这种情况下Valuationarea就是Plant(未知何种业务会采用Company level,),这符合一般的成本核算目的,因为一个生产企业大都会根据比如产品类别甚至仓储地点(如俩存货仓库在不同地点要进行存货转移)设置plant.*你也可参考(SE11:MBEW)评估表MBEW,Valuation area即plant回顾一下这几个概念:Valuation level/Valuation area/Valuation class/Valuation type/Valuation group /Valuation method/Valuation mode/Split Valuation图例1-1[1],OMWM激活V aluation group,这样可更方便OBYC科目配置.图例1-1[2],将Valuation area（是根据组织架构而来的，不是直接建立的）组合起来.如图例1-2,所有的公司的所有plant都group在一起使用一个valuation group code CONO(和会计科目表同名,集团只使用了一个会计科目表)需要定义一个还是多个Val. Grpg Code呢?如图例1-2,比如company code 4100有两个plant 4100和4101,你可定义一个Val. Grpg Code 和company code同名叫4100 ,同样company code 5100有两个plant 5100和5101,你定义val. Grpg code 5100.这样分散和集中定义Val. Grpg Code各有什么好处.分散定义,你在OBYC里能方便为不同的公司定义相同的Valuation class给定不同的科目,如果是只使用一个Val. Grpgcode可能就难于到达目的, 当然有的科目配置可能并不需要使用Val. Grpg code(OBYC是Valuation Modif.)你根据实际需要决定使用一个还是多个Val. Grpg code(Valuation modif.)例2 PO condition和OBYC例3使用PO处理委外加工例4 Account assignment的逻辑分析例5采购运费处理1.运费进库存.2.计划外运费例6:P&L科目和成本要素的建立例7采购科目分配设置例8汇率变更影响发票校验.天啦,设计逻辑和从什么地方获取科目都要讲,什么世界?例9月结GR/IR处理委外加工的种类和处理方法(使用prod. Order和purchase order)……………..……………..Background: (10)1.Related IMG (10)Step 1.Define valuation class for those non-material (10)Step 2.Define PO Account Assignment Categories (10)Step 3. Assign account to VBR (10)Step 4.Where we define valuation class (10)2.Q&A (10)1 (10)2.................................................................................................. 错误！未定义书签。

ACCA 参考资料 f3知识点现金流量表本文考虑它的现金流量表不承担任何先验知识。

F3是相关的是相关的, , 财务会计 ,F7, 财务报告 。

这篇文章将解释如何计算现金流和现金流提出了现金流量表。

计算现金流现金流是收据现金流是收据((即现金流入即现金流入,,所以在一份声明中表示为一个正数的现金流)或支付支付((即现金流动即现金流动,,所以被表示为一个负数在现金流量表中使用括号所以被表示为一个负数在现金流量表中使用括号))。

现金流计算通常是作为一个失踪的图。

例如例如,,当资产的期初余额当资产的期初余额,,责任或股本项目协调的使用信息从语句关闭平衡损益和协调的使用信息从语句关闭平衡损益和//或额外的笔记或额外的笔记,,平衡图通常是现金流。

常见的现金流计算包括税收支付常见的现金流计算包括税收支付,,这是一种经营活动现金流这是一种经营活动现金流,,支付购买财产厂房和设备房和设备(PPE)(PPE)(PPE)这是一个投资活动现金流和分红这是一个投资活动现金流和分红这是一个投资活动现金流和分红,,这是一种融资活动现金流量。

下面的例子说明了这三个例子。

运动计算税收支付会计期间公司有纳税义务的50美元和90美元的纳税义务报告日期。

在今年的税收指控在声明中利润或损失是100美元。

要求要求::计算支付的税收。

解决方案开幕式有必要协调税务责任关闭纳税义务披露现金流开幕式有必要协调税务责任关闭纳税义务披露现金流--税收支付平衡图。

垂直显示的数字有助于注意数字的来源。

这个简单的技巧的一个项目的期初余额这个简单的技巧的一个项目的期初余额((在这种情况下在这种情况下,,纳税义务纳税义务),),),加上加上加上((或减去)造成改变的非现金交易造成改变的非现金交易,,然后揭示实际现金流平衡图然后揭示实际现金流平衡图,,有广泛的应用。

运动计算支付购买PPE开始的时候会计期间公司PPE 的账面价值100美元。

在报告日期PPE 的账面价值是300美元。

第3章财务报表分析与财务模型3.1 本章要点本书第3章介绍财务报表分析和财务计划的基本方法。

首先介绍财务报表分析的重要性和基本方法，即标准化的共同比报表分析方法。

其次，重点介绍了各种常见的财务比率的含义、计算和应用，并通过杜邦恒等式将财务分析中的核心指标ROE进行分解，以帮助投资者对企业进行诊断。

最后本章介绍了简单的财务模型。

财务模型的主要作用是对未来进行预测，常用的方法是销售百分比法。

根据财务模型预测未来的利润表和资产负债表，在这一过程中会产生外部融资需求，因此企业的增长和融资政策之间具有内在的关联，企业的融资政策决定了两个增长率：内生增长率和可持续增长率。

本章的内容技术性较强，需要同学们通过学习和应用来掌握相关知识。

本章各部分要点如下：1．财务报表分析财务报表分析帮助投资者从报表中获取更多信息，在公司理财中非常重要。

为了进行比较，财务报表分析通常采用标准化的共同比报表。

在编制共同比资产负债表时，通常将总资产设为100%；在编制共同比利润表时，通常将销售额设为100%。

2．比率分析在财务分析中，财务比率是重要的分析工具，通常将财务比率分为五类：（1）反映短期偿债能力的比率，即流动性比率；（2）反映长期偿债能力的比率，即财务杠杆比率；（3）反映资产管理情况的比率，即周转率；（4）反映盈利能力的比率；（5）反映市场价值的比率。

需要掌握每种比率的定义、计算方法、适用范围等。

3．杜邦恒等式杜邦分析的核心是对ROE的分解，ROE受三个方面因素的影响：（1）经营效率（以销售利润率度量）；（2）资产运用效率（以总资产周转率度量）；（3）财务杠杆（以权益乘数度量）。

杜邦分析的作用是发现ROE不理想的原因所在。

4．财务模型长期财务计划是财务报表的又一重要用途，多数财务计划模型的结果生成预估财务报表，即以财务报表的形式表达的财务计划。

简化的财务预测假设所有的项目都与销售额挂钩，从而可以比较容易地对未来的利润表和资产负债表进行估计。

ACCA--财务管理英语sole propsietorship 独资企业partnership 合伙企业corporate finance 公司财务corporate 公司closely held 私下公司public company 公众公司Goldman Sachs 高盛银行pension fund 养老基金insurance company 保险公司board of director 董事会separation of ownership and management 所有权与管理权的分离limited liability 有限责任articles of incorporation 公司章程real asset 实物资产financial asset 金融资产security 证券financial market 金融市场capital market 资本市场money market 货币市场investment decision 投资决策capital budgeting decision 资本预算决策financing decision 融资决策financial manager 财务经理treasurer 司库controller 总会计师CFO 首席财务官principal-agent problem 委托代理问题principal 委托人agent 代理人agency cost 代理成本information asymmetry 信息不对称signal 信号efficient markets hypothesis 有效市场假说present value 现值discount factor 贴现因子rate of return 收益率discount rate 贴现率hurdle rate 门坎比率opportunity cost of capital 资本机会成本net present value 净现值cash outflow 现金支出net present value rule 净现值法则rate-of-return rule 收益率法则profit maximization 利润最大化doing well 经营盈利doing good 经营造益collateral 抵押品warrant 认股权证convertible bond 可转换债券primary issue 一级发行prinary market 一级市场secondary tansaction 二级交易secondary market 二级市场over-the-counter (OTC) 场外交易financial intermediary 金融中介zero-stage 启动阶段business plan 创业计划书first-stage financing 第一阶段融资after-the-money valuation 注资后的价值paper gain 账面利润mezzanine financing 引渡融资angel investor 天使投资者venture capital fund 创业投资基金limited private partnership 有限合伙企业general partner 普通合伙人limited partner 有限合伙人small-business investment companies（SBIC）小企业投资公司initial public offering (IPO) 首次公开发行primary offering 首次发行secondary offering 二次发行underwriter 承销商syndicate of underwriter 承销辛迪加registration statement 注册说明书prospectus 招股说明书road show 路演greenshoe option 绿鞋期权spread 差价offering price 发售价格underpricing 抑价winner’s curse 成功者灾难bookbuilding 标书登记fixed price offer 定价发售auction 拍卖discrimination auction 差价拍卖uniform-price auction 一价拍卖general cash offer 一般现款发行right issue 附权发行shelf registration 上架注册prior approval 事前许可bought deal 买方交易seasoned issue 新增发行knowledgeable invertor 成熟的投资者qualified institutional buyer 有资格的机构买者record date 登记日with dividend 附有红利cum dividend 附息ex dividend 除息legal capital 法定资本regular cash dividend 正常现金红利extra 额外的special dividend 特别红利stock dividend 股票红利automatic dividend reinvestment plans (DRIP) 红利自动转投计划transfer of value 价值转移capital structure 资本结构MM’s proposition MM定理weighted-average cost of capital (WACC) 加权平均资本成本margin debt 保证金借款floating-rate note 浮动利率票据money-market fund 货币市场基金interest-rate ceiling 利率上限trade-off theory 权衡理论right to default 违约权leverage buy-out (LBO) 杠杆收购asymmetric information 信息不对称financial slack 银根宽松cost of debt 负债成本cost of equity 权益成本terminal value 清算价值cash flow to equity 权益现金流rebalancing 重整project financing 项目融资adjusted cost of capital 调整资本成本equivalent loan 等值贷款offsetting transaction 反向交易depreciable basis 折旧基数adjusted present value (APV) 调整现值call option 看涨期权exercise price 执行价格strike price 敲定价格exercise date 到期日European call 欧式看涨期权American call 美式看涨期权position diagram 头寸图put option 看跌期权Salomon Brothers 所罗门兄弟公司term stucture of interest rate 利率期限结构annuity 年金perpetuity 永久年金annuity factor 年金因子annuity due 即期年金future value 终值conmpound interest 复利simple interest 单利continuously compounded rate 连续复利率Consumer Price Index (CPI) 消费物价指数current dollar 当期货币nominal dollar 名义货币constant dollar 不变货币real dollar 实际货币real rate of return 实际收益率inflation rate 通货膨胀率principal 本金deflation 滞胀yield to maturity 到期收益率market capitalization rate 市场资本化率dividend yield 红利收益率cost of equity capital 权益资本成本payout ratio 红利发放率earnings per share (EPS) 每股收益return on equity (ROE) 权益收益率discount cash flow 贴现现金流growth stock 成长股income stock 绩优股present value of growth opportunity (PVGO) 成长机会的现值price-earnings ratio (P/E) 市盈率free cash flow (FCF) 自由现金流量book rate of return 账面收益率capital investment 资本投资operating expense 经营费用payback period 回收期discounted-payback rule 贴现回收期法则discounted-cash-flow rate of return 贴现现金流量的收益率internal rate of return (IRR) 内部收益率lending 贷出borrowing 借入profitability measure 盈利指标standard of pfofitability 赢利标准modified internal rate of return 修正内部收益率mutually exclusive projects 互相排斥的项目capital rationing 资本约束profitability index 盈利指标soft rationing 软约束hard rationing 硬约束incremental payoff 增量收入net working capital 净营运资本sunk cost 沉没成本sunk-cost fallacy 沉没成本悖论overhead cost 间接费用salvage value 残值straight-line depreciation 直线法折旧Internal Revenue Service 国内税收署tax shield 税盾accelerated cost recovery system 加速成本回收折旧法alternative minimum tax 另类最低税tax preference 税收优惠accelerated depreciation 加速折旧project analysis 项目分析equivalent annual cash flow 等价年度现金流marginal investment 边际投资default risk 违约风险risk premium 风险溢酬standard error 标准误差standard deviation 标准差market portfolio 市场组合market returm (rm) 市场收益率variance 方差the loss of a dgree of freedom 自由度损失Delphic 德尔菲unique risk 独特风险unsystematic risk 非系统风险residual risk 剩余风险specific risk 特定风险diversifiable risk 可分散风险market risk 市场风险systematic risk 系统风险undiversifiable risk 不可分散风险convariance 协方差well-diversified 有效分散value additivity 价值可加性efficient portfolio 有效投资组合quadratic programming 二次规划best efficient portfolio 最佳有效投资组合capital asset pricing model (CAPM) 资本资产定价模型separation theorem 分离定理security market line 证券市场线market capitalization 市场资本总额small-cap stocks 小盘股book-to-market ration 账面-市值比data mining 数据挖掘data snooping 数据侦察consumption beta 消费贝塔consumption CAPM 消费型资本资产定价模型risk aversion 风险厌恶arbitrage pricing theory 套利定价理论sensitivity of each stock to these factors 每种股票对这些因素的敏感度three-factor model 三因素模型company cost of capital 公司资本成本industry beta 行业贝塔firm value 公司价值debt value 负债价值asset value 资产价值blue-chip firm 蓝筹股financial leverage 财务杠杆gearing 举债经营financial risk 财务风险unlever 消除杠杆relative market values of debt (E/V) 负债的相对市场价值taxable income 应税利润after-tax cost 税后成本marginal corporate tax rate 公司边际税率after-tax weighted-average cost of capital 税后加权平均资本成本cyclicality 周期性cyclical firms 周期性公司operating leverage 经营杠杆revenue 收入fixed costs 固定成本variable costs 可变成本rate of output 产出率certainty equivalent 确定性等价值certainty-equivalent cash flow 确定性等价现金流risk-adjusted discount rate 风险相应贴现率underlying variables 基础变量sample 抽样real option 实物期权decision tree 决策树timing qption 安排期权production option 生产性期权option to bail out 清算选择权economic rent 经济租金future market 期货市场capital budget 资本预算strategic planning 战略规划appropriation request 拨款申请postaudit 事后审计stock options 股票期权private benefit 私下利益perks 特权享受perquisite 特权享受overinvestment 过度投资generally accepted accounting principle (GAAP) 公认会计原则qualified doption 保留意见delegated 委托economic value added (EV A) 经济附加值trade loading 贸易超载economic depreciation 经济折旧national income and product accounts 国民收入与产出账户cap 上限合约strip 本息剥离债券swap 互换bookrunner 股份登记员efficient capital market 有效资本市场random walk 随机游走positive drift 正漂移autocorelation coefficient 自相关系数weak form of efficiency 弱有效性semistrong form of efficiency 半强有效性strong form of efficiency 强有效性market model 市场模型acquiring firm 兼并公司acquired firm 被兼并公司superior profit 超常利润overreaction 反应过度underreaction 反应不足index arbitrageur 指数套利者portfolio insurance scheme 证券组合保险策略superior rates of return 超常收益exchange-rate policy 汇率政策application date 申购日long-term asset 长期资产retained earnings 留存收益financial deficit 资金缺口internal fund 内部资金debt policy 负债政策dividend policy 红利政策long-term financing 长期融资total capitalization 资本总额reserve 准备金issued and outsanding 已发行流通股份issued but not outsanding 已发行未流通股份authorized share capital 法定股本总额financial institution 金融机构cash-flow right 现金流要求权control right 控制劝dominant stockholder 控股股东majority voting system 多数投票制cumulative voting 累计投票制supermajority 绝对多数制proxy contest 投票代理权角逐minority stockholder 小股东reverse stock split 逆股票拆细master limited partnership 业主有限责任合伙企业real estate investment trust (REIT) 房地产信托投资基金preferred stock 优先股cumulative preferred stock 红利累积优先股line of credit 授信额度fixed-rate 固定利率floating-rate 浮动利率coupon 息票London Interbank Offered Rate (LIBOR) 伦敦银行间拆借利率eurobond 欧洲债券eurocurrency 欧洲货币euro 欧元senior 优级junior 次级subordinated 从属secured 有担保的collateral 抵押品warrant 认股权证convertible bond 可转换债券primary issue 一级发行prinary market 一级市场secondary tansaction 二级交易secondary market 二级市场over-the-counter (OTC) 场外交易financial intermediary 金融中介zero-stage 启动阶段business plan 创业计划书first-stage financing 第一阶段融资after-the-money valuation 注资后的价值paper gain 账面利润mezzanine financing 引渡融资angel investor 天使投资者venture capital fund 创业投资基金limited private partnership 有限合伙企业general partner 普通合伙人limited partner 有限合伙人small-business investment companies（SBIC）小企业投资公司initial public offering (IPO) 首次公开发行primary offering 首次发行secondary offering 二次发行underwriter 承销商syndicate of underwriter 承销辛迪加registration statement 注册说明书prospectus 招股说明书road show 路演greenshoe option 绿鞋期权spread 差价offering price 发售价格underpricing 抑价winner’s curse 成功者灾难bookbuilding 标书登记fixed price offer 定价发售auction 拍卖discrimination auction 差价拍卖uniform-price auction 一价拍卖general cash offer 一般现款发行right issue 附权发行shelf registration 上架注册prior approval 事前许可bought deal 买方交易seasoned issue 新增发行knowledgeable invertor 成熟的投资者qualified institutional buyer 有资格的机构买者record date 登记日with dividend 附有红利cum dividend 附息ex dividend 除息legal capital 法定资本regular cash dividend 正常现金红利extra 额外的special dividend 特别红利stock dividend 股票红利automatic dividend reinvestment plans (DRIP) 红利自动转投计划transfer of value 价值转移capital structure 资本结构MM’s proposition MM定理weighted-average cost of capital (WACC) 加权平均资本成本margin debt 保证金借款floating-rate note 浮动利率票据money-market fund 货币市场基金interest-rate ceiling 利率上限trade-off theory 权衡理论right to default 违约权leverage buy-out (LBO) 杠杆收购asymmetric information 信息不对称financial slack 银根宽松cost of debt 负债成本cost of equity 权益成本terminal value 清算价值cash flow to equity 权益现金流rebalancing 重整project financing 项目融资adjusted cost of capital 调整资本成本equivalent loan 等值贷款offsetting transaction 反向交易depreciable basis 折旧基数adjusted present value (APV) 调整现值call option 看涨期权exercise price 执行价格strike price 敲定价格exercise date 到期日European call 欧式看涨期权American call 美式看涨期权position diagram 头寸图put option 看跌期权色诺芬在《经济论》中首次提出“经济”一词（1）著作：《居鲁士的教育》、《居鲁士远征记》、《经济论》、《雅典的收入》（2）主要经济思想：a)重农思想。

国际会计准则解读与应用案例分析随着全球经济的蓬勃发展和跨国贸易的日益增加，国际金融市场的竞争日益激烈。

为了实现财务信息的全球标准化，国际会计准则委员会（International Accounting Standards Board，简称IASB）制定了一系列的国际会计准则。

这些准则旨在提供一个共同的财务报告框架，方便跨国企业之间的交流和比较。

在本文中，我们将解读并应用国际会计准则，通过一些实际案例来分析其具体应用。

案例一：收入确认与商誉测试公司A是一家全球性的制药公司，根据国际会计准则第15号（IFRS 15）收入确认准则，公司A需要根据以下步骤确认收入：确定合同；识别合同中存在的性能义务；确定合同的交易价格；分配交易价格到合同中的性能义务；确认收入。

该公司与一家医疗器械公司签订了一份销售合同，合同涵盖产品销售和维护服务。

根据合同，公司A将在销售产品之后提供维护服务，并可为此收取额外费用。

根据IFRS15，公司A应将销售额和维护服务的费用在合同签订时分配到不同性能义务中，并根据完成维护服务时的进展确认收入。

此外，公司A在并购一家竞争对手时，根据国际会计准则第3号（IFRS 3）商誉测试准则，公司A需要对并购交易进行商誉测试。

商誉是超过合理价值的支付金额，其中包括未能在资产和负债中识别的无形资产。

案例二：金融工具和关联方交易公司B是一家跨国投资公司，其主要业务是投资金融工具和参与关联方交易。

根据国际会计准则第9号（IFRS 9）金融工具准则，公司B 需要对其投资的金融工具进行分类和计量。

该准则根据金融资产的特性和管理意图，将其分为可供出售金融资产、持有至到期的金融资产和以公允价值计量且其变动计入损益的金融资产。

此外，公司B还需要根据国际会计准则第24号（IFRS 24）关联方交易准则揭示与关联方的交易和关系。

该准则要求公司B披露其在报表日期的关联方交易的性质、类型和金额，以及与关联方交易相关的任何重大风险和控制措施。

财务报表解释_____会计与财务认可证书前言课程的目的：理解财务报表,并能对财务报表做出评论性的解释。

因此本课程的教学结构做出如下安排：1.理解报表的专业术语；2.理解编制财务报表所依据的原则；3.编制基本的财务报表，如资产负债表、损益表、现金流量表等；4.对各个报表及其财务指标进行分析性的解释和评价。

第一章财务信息的作用会计信息系统的主要作用是：向会计信息使用者提供有效的会计信息。

●会计信息使用者：不同的利害集团。

，●有效：包括三层含义：1、符合法律的约束；2、满足管理与决策的需求；3、满足会计信息使用者的要求。

否则这些会计信息被称作“无效的会计信息”！！本章将要讨论以下内容：●会计信息的使用者是谁？●会计信息应当具备的质量特征是什么？●财务报表的法定格式和内容是怎样的？●企业的不同类型与会计报表的要求是怎样的？一、会计信息的使用者不同的会计信息使用者对会计信息的要求是不同的，原因是他们面临的决策不同！！如雇员和股东？总的来看，会计信息的使用者包括“不同的群体”，他们是：1.投资人和潜在的投资者。

投资人即公司业主。

他们最需要了解的会计信息是:●利润：因为利润一方面表明了被投资方的业绩；另一方面它是公司能否进行利润分配的基础。

●股票的市场价值：因为公司股票的市场价值表明了投资人的资产的溢值和减值状况；同时股票市场价值也表明了市场对公司历年业绩和未来业绩的肯定。

●现金流量：没有现金流量公司将无法维持下去；股东所期望的“股利派现”无法实现。

2．债权人。

债权人是指向公司提供偿还融资的个人和机构。

债权人又包括商业债权人（出售商品和劳务形成的）和贷款债权人（提供贷款形成的）。

债权人最需要了解的会计信息是：●商业债权人最为关心的是公司及时偿还债务的能力。

因此他们很关注公司的经营现象，以及现金的状况和近似现金的流动状况。

●贷款债权人是企业长期融资的主要对象，他们主要关注的是一利息能否偿付；二是贷款能否及时收回。