致财经版编辑 - CITIC Capital

国际商务英语写作模板：商业计划书篇一：商业计划书模板---英文版精编资料商业计划书模板---英文版BUSINESS PLAN TEMPLATEBUSINESS PLAN[My Company]123 MainStreetAnytown, USA -4567[Your Name][DATE]TABLE OF CONTENTS...商业计划书商业计划书模板---英文版BUSINESS PLAN TEMPLATEBUSINESS PLAN[My Company]123 Main StreetAnytown, USA 10000123-45671[Your Name][DATE]2TABLE OF CONTENTSExecutiveSummary ........................................... ................................................... .. (1)Management ........................................ ................................................... ................................................... . (2)[Company] History ........................................... ................................................... .. (5)[Product/Service] Description ....................................... ................................................... . (7)Objectives......................................... ................................................... ................................................... .. (9)Competitors ....................................... ................................................... ................................................... .. (10)Competitive Advantages ........................................ ................................................... .. (11)Innovation ........................................ ................................................... ................................................... . (13)Pricing ........................................... ................................................... ................................................... (14)Specific Markets ........................................... (15)Growth Strategy .......................................... ................................................... . (16)Market Size and Share ............................................. ................................................... (17)Targeting New Markets ........................................... ................................................... . (18)Location .......................................... ................................................... ................................................... .. (19)Manufacturing Plan .............................................. (20)Research & Development ....................................... ................................................... . (21)Historical Financial Data .............................................. ................................................... .. (22)Proforma Financial Data .............................................. ................................................... .. (23)Proforma Balance Sheet ............................................. ................................................... (26)Cost Control ........................................... ................................................... (27)Effects of Loan or Investment ........................................ ................................................... (28)Attachments ....................................... ................................................... ................................................... . (29)3Executive Summary [My Company] was formed as a [proprietorship, partnership, corporation] in [Month, Year] in [City, State], by [John Doe] in response to the following market conditions:[Startup, growth] opportunities exist in [Product/Service].The need for use of efficient distribution (转载于: 小龙文档网:国际商务英语写作模板：商业计划书)and financial methods in these overlooked markets.[I/We] have several customers who are willing to place large [orders,contracts] within the next three months.Several other prospective [customers/clients] have expressed serious interest in doing business within six months. [I/We] previously owned a company that was active in the widget markets. Over the past few years I spent much time studying ways to improve overall performance and increase profits. This plan is a result of that study. The basic components of this plan are:1. Competitive pricing2. Expand the markets3. Increased advertising4. Lower our unit costs,5. Thereby achieving higher profits.1. Sign contracts2. Increased advertising3. Increase office staffTo this end, [I/we] need investment from private individuals and/or companies. A total of $XXX isbeing raised which will be used to finance working capital, plant and equipment. The company will be incorporated and common stock issued to investors. The company will be run as a [proprietorship, partnership, corporation].Financial Goals Sales Net Income Earnings pershareYear 1 $25,000 .01 Year 2 $250,000 .12 Year 3 $375,000 .141Management[Name] [Title]??[Experience]??Sales growth from zero to $1,000,000 in five years.??Led market in market share - 30%.Formulated advertising budgets & campaigns.Pioneered new distribution channels. Established national sales force.Established national repair & service centers.Brought new and innovative products to the market.Designed point-of-purchase materials.[Education}University of BostonBoston, MA- Computer SciencesPresidentJohn Q. Doe, Chief Executive Officer, and Director since February 1988 and President since January 1990. Mr. Doe was the founder and Chief Executive Officer of the original operating company known as Random Excess, Inc. He has had experience in the widget field with his own firm, John Doe Co., of Oshkosh (Wisconsin), from 1980 to 1987. This firm was sold to FatCat Widgets, Inc. in 1987.篇二：商务英语写作(商业计划书写作格式)商务英语写作:商业计划书写作格式XX-03-24 13:39:08 来源：爱词霸资讯官网封面 (Title page)企业的名称和地址Name and address of business负责人的姓名和地址Name(s) and address(es) of principals企业的性质Nature of business报告机密性的陈述Statement of confidentiality目录 (Table of contents)1. 概述/总结 (Executive summary)2. 行业及市场分析 (Industry analysis)对未来的展望和发展趋势 (Future outlook and trends)竞争者分析 (Analysis of competitors)市场划分 (Market segmentation)行业预测 (Industry forecasts)3. 企业的描述 (The description of the venture)企业的宗旨和目标（Mission statement and objectives）产品或服务的描述 (Description of the product or service)企业的规模 (Size of business)产品的进一步开发(Future potential/product development)竞争优势 (Competitive advantage)办公设备和人员 (Office equipment and personnel)创业者的背景 (Backgrounds of entrepreneurs)4. 生产计划 (Production plan)制造过程/被分包的数量 (Manufacturing process /amount subcontracted)选址 (Location)厂房 (Physical plant）机器和设备 (Machinery and equipment）原材料的供应情况 (Sources of raw materials to be supplied)生产能力和提高的可能性 (Output limitations， if any， and scale-up possibilities）质量控制计划 (Quality control plans)5. 营销计划 (The marketing plan)定价 (Pricing)分销 (Distribution)促销 (Promotion)产品预测 (Product forecasts)预见的涨价 (Anticipated mark-up)竞争对手的反应 (Competitors’ response)市场份额预测 (Market share projection)控制 (Controls)6. 组织计划 (Organizational plan)所有权的形式 (Form of ownership)合作者或主要股权所有人的身份 (Identificationof partners or principal shareholders)负责人的权利 (Authority of principals)管理层成员的背景 (Management team background) 组织成员的角色和责任(Roles and responsibilities of members of organization)7. 风险与对策分析(Assessment of risks)企业弱点的评价 (Evaluate weakness if business)新技术 (New technologies)应急计划 (Contingency plan)8. 财务计划 (Financial plan)各种业绩比率和投资回报 (Summary of performance ratios, ROI etc.)销售预测 (Sales forecasts)财务预测的假设(Assumptions underpinning financial forecasts)损益表(Income statement / Profit and loss statement)预测现金流量表 (Cash flow projections)资产负债预估表 (Pro forma balance sheet)量本利分析 (Break-even analysis)资金来源和运用 (Sources and applications offunds)9. 融资需求 (Financing requirements)融资前的活动小结 (Summary of operations prior to financing)现在的股东和未付债款 (Current shareholders, loans outstanding)资金需要量及时间 (Funds required and timing)投资回报 (The deal on offer)资本负债比率和盈利与利息比率(Anticipated gearing and interest cover)投资者退出方式 (Exit routes for investors)附录 (Appendix)1. 管理人员简历 (Management team biographies)2. 职业咨询人员背景(Names and details of professional advisors)3. 技术参数和图纸 (Technical data and drawings)4. 专利、版权、设计等(Details of patents, copyright, designs）5. 审计的报表 (Audited accounts)6. 信件 (Letters)7. 市场调研数据 (Market research data)8. 租约或合同 (Leaser or contracts)9. 供应商的报价单 (Price lists from suppliers)10. 客户的订单 (Orders from customers)篇三：英文商业计划书模板英语商业计划书（Business Plan）第一讲：概述第二讲：现状分析第三讲：目标确定第四讲：组织结构第五讲：产品分析第六讲：市场分析第七讲：市场策略第八讲：生产分析第九讲：财务分析第十讲：附件第一讲：概述(executive summary)概述是整个商业计划的第一部分，相当于整个商业计划的浓缩，使整个商业计划的精华所在。

盈利能力外文资料翻译译文XXX has always been one of the XXX。

Capital structure is related to a company's funding costs。

financial risks。

and profitability。

and funding costs and financial risks XXX een a company's capital structure and profitability is not us。

but increasing a company's long-term debt-to-equity。

XXX.The funding costs of long-XXX taxes。

a company's actual capital cost is lower than the rate of return demanded by creditors。

The cost of debt capital is mainly determined by the company's financial structure。

debt repayment ability。

operating cash flow。

operating ability。

operating efficiency。

market interest rates。

and current market economic XXX nary effects。

and the return XXX。

Long-term debt has a greater impact on a company's operating XXX。

and long-term debt faces greater credit default risk。

中信系列指数、中信行业分类英文名称术语库中标300S&P/CITIC 300亏损指数CITIC/Stocks with Negative Profits中信科技CITIC/Technology新股指数CITIC/New Stocks国债指数CITIC/Treasury securities企债指数CITIC/Corporate Bonds银债指数CITIC/Interbank Bonds全债指数CITIC/Composite Bonds国债浮息CITIC/Treasury Floating Rate securities 企债浮息CITIC/Corporate Floating Rate securities 银债浮息CITIC/Interbank Floating Rate Securities 转债全价CITIC/Convertible Bonds (Dirty Price)转债净价CITIC/Convertible Bonds (Clean Price)基金指数CITIC/Funds大型基金CITIC/Large Funds小型基金CITIC/Small Funds中标50 S&P/CITIC 50中信大盘CITIC/Large Cap大盘价值CITIC/Large Cap Value大盘成长CITIC/Large Cap Growth中信中盘CITIC/Mid Cap中盘价值CITIC/Mid Cap Value中盘成长CITIC/Mid Cap Growth中信小盘CITIC/Small Cap小盘价值CITIC/Small Cap Value小盘成长CITIC/Small Cap Growth中信综指CITIC/Composite Socks能源CITIC/Energy煤炭CITIC/Coal Mining石油天然CITIC/Oil and Gas原材料CITIC/Raw Materials化学工业CITIC/Chemicals建筑材料CITIC/Construction Materials纸业CITIC/Paper林业CITIC/Forest金属CITIC/Metals钢铁CITIC/Steel有色金属CITIC/Diversified Metals容器包装CITIC/Containers and Packaging投资品CITIC/Capital Goods航空国防CITIC/Aerospace and Defense电子电器CITIC/Electrical Components and Equipment 电子CITIC/Electricals机械制造CITIC/Machine Manufacturing建筑业CITIC/Construction Engineering耐用消费CITIC/Consumer Durables汽车业CITIC/Automobile Industry汽车整车CITIC/Automibiles纺织服装CITIC/Textiles and Apparel家庭耐用CITIC/Household Durables家用电器CITIC/Household Appliances休闲设备CITIC/Leisure Equipment & Products经常消费CITIC/Consumer Stables饮料业CITIC/Beverages农业CITIC/Agriculture食品CITIC/Food Products医药卫生CITIC/Health Care制药生物CITIC/Pharmaceuticals & Biotechnology 健康护理CITIC/Health Care Services医药流通CITIC/Health Care Distributors贸易零售CITIC/Trading and Retailing贸易CITIC/Trading普通零售CITIC/General Merchandise社会服务CITIC/Social Services公共设施CITIC/Public Infrastructure餐饮旅游CITIC/Restaurants and Travels媒体CITIC/Medias运输仓储CITIC/Transportation & Warehouse 航线机场CITIC/Airlines and Airports铁路运输CITIC/Railroads公路运输CITIC/Roads and Highways水运港口CITIC/Marine Ports and Services仓储CITIC/Warehouse金融业CITIC/Financials银行业CITIC/Banks房地产CITIC/Real Estates信息技术CITIC/Information Technology硬件设备CITIC/Hardwares软件服务CITIC/Software and Services公用事业CITIC/Utilities电力CITIC/Electric Utilities气体公用CITIC/Gas Utilities供水公用CITIC/Water Utilities综合公用CITIC/Multi-Utilities综合类CITIC/Conglomerates评级说明Notes on Ratings买入Buy增持Overweight股票投资评级Stock ratings持有Hold卖出Sell强于大市Outperform中性Neutral弱于大市Underperform行业投资评级Industry ratings 评级Ratings 说明Description。

ABS 资产担保证券（Asset Backed Securities的英文缩写）Accelerated depreciation 加速折旧Acceptor 承兑人；受票人；接受人Accommodation paper 融通票据；担保借据Accounts payable 应付帐款Accounts receivable 应收帐款Accredited Investors 合资格投资者；受信投资人指符合美国证券交易委员(SEC)条例，可参与一般美国非公开(私募)发行的部份机构和高净值个人投资者。

Accredit value 自然增长值Accrediting 本金增值适用于多种工具，指名义本金在工具（如上限合约、上下限合约、掉期和互换期权）的期限内连续增长。

Accrual basis 应计制；权责发生制Accrued interest 应计利息ACE 美国商品交易所Acid Test Ratio 酸性测验比率；速动比率Acquisition 收购Across the board 全面一致；全盘的Acting in concert 一致行动；合谋Active assets 活动资产；有收益资产Active capital 活动资本Actual market 现货市场Actual price 现货价Actual useful life 实际可用年期Actuary 精算师；保险统计专家ADB 亚洲开发银行(Asian Development Bank的英文缩写)ADR 美国存股证；美国预托收据；美国存托凭证(参见American DepositoryReceipt栏目）ADS 美国存托股份(American Depository Share的英文缩写)Ad valorem 从价；按值Ad valorem stamp duty 从价印花税Adjudicator 审裁员Adjustable rate mortgage调息按揭(ARM)Admitted value 认可值Advance 垫款Affiliated company 关联公司；联营公司After date 发票后，出票后After-hours dealing 收市后交易After-market 后市[股市] 指某只新发行股票在定价和配置后的交易市场。

CITICSecuritiesCompanyLimitedCITIC Securities Company Limited (SSE:600030) is a leading integrated investment bank and financial services company in China. The company provides a wide range of investment banking, brokerage, asset management, and corporate finance services, as well as direct access to the Chinese capital markets. It is a joint venture between CITIC Group and Morgan Stanley, with both parties owning a 50.00% stake in the company.CITIC Securities has a long history of serving as a bridge between Chinese and foreign investment opportunities. The company connects investors to a range of domestic and international products and services, enabling them to access a broad array of investment opportunities. CITIC Securities also offers clients a range of unique services, such as foreign exchange and market analysis, financial advisory, andtailor-made solutions.CITIC Securities has received a number of accolades, including being named 'Best Investment Bank in China' by Global Finance Magazine. The company has also been recognized for its contribution to the development of the Chinese capital markets. In 2017, the company was selected as one of the “AAA” ratedsecurities companies of the year by Capital Magazine.CITIC Securities continues to be an important player in China's financial services market. The company's growth has been supported by its focus on providing services that add value to its clients, utilizing its broad range of expertise and experience.。

美国资产负债表公司内部档案编码：[OPPTR-OPPT28-OPPTL98-OPPNN08]
美国2008-2012年资产负债表
数据整理者：西南财经大学金融学院陈坷
注：1.加粗黑体为1级科目，未加粗为2级科目，未加粗斜体为3级科目。

2.美联储的资产负债表为报告式。

3.在财政部证券科目下有3级科目，分别为财政部短期票据，国库券，长期债券，在这里省略。

4.在资产负债表中，不同年间会增加或减少一些科目，例如2010年后就没有了“投资组合中通过货币市场融资工具对公司的融资”科目，所以本人就认为该科目金额为0
5.翻译可能有不对的地方，如果有疑问，美联储的官网能查看各指标示意。

Chapter 18Shareholders’ EquityQUESTIONS FOR REVIEW OF KEY TOPICSQuestion 18-1The two primary sources of shareholders’ equity are amounts invested by shareholders in the corporation and amounts earned by the corporation on behalf of its shareholders. Invested capital is reported as paid-in capital and earned capital is reported as retained earnings.Question 18-2The three primary ways a company can be organized are (1) a sole proprietorship, (2) a partnership, or (3) a corporation. Transactions are accounted for the same regardless of the form of business organization with the exception of the method of accounting for capital – the ownership interest in the company. Several capital accounts (as discussed in this chapter) are used to record changes in ownership interests for a corporation, rather than recording all changes in ownership interests in a single capital account for each owner, as we do for sole proprietorships and partnerships. Question 18-3In the eyes of the law, a corporation is a separate legal entity – separate and distinct from its owners. The owners are not personally liable for debts of the corporation. So, shareholders generally may not lose more than the amounts they invest when they purchase shares. This is perhaps the single most important advantage of corporate organization over a proprietorship or a partnership.Question 18-4―Not-for-profit‖ corporations, such as churches, hospitals, universities, and charities, are not organized for profit and do not sell stock. Some not-for-profit corporations, such as the Federal Deposit Insurance Corporation (FDIC), are government owned.Question 18-5Corporations that are organized for profit may be publicly held or privately (or closely) held. The stock of publicly held corporations is available for purchase by the general public. Shares might be traded on organized national stock exchanges available ―over-the-counter‖ from securities dealers. Privately held companies' shares are held by only a few individuals and are not available to the general public.Question 18-6Corporations are formed in accordance with the corporation laws of individual states. The Model Business Corporation Act serves as the guide to states in the development of their corporation statutes, presently as the model for the majority of states.Answers to Questions (continued)Question 18-7The ownership rights held by common shareholders, unless specifically withheld by agreement with the shareholders, are:a. The right to vote on policy issues.b. The right to share in profits when dividends are declared (in proportion to the percentage ofshares owned by the shareholder).c. The right to share in the distribution of any assets remaining at liquidation after other claims aresatisfied.Question 18-8The ―preemptive right‖ is the right to maintain one’s percentage share of ownership when new shares are issued. When granted, each shareholder is offered the opportunity to buy the same percentage of any new shares issued as the percentage of shares he/she owns at the time. For reasons of practicality, the preemptive right usually is excluded.Question 18-9The typical rights of preferred shares usually include one or both of the following:a. A preference to a predesignated amount of dividends, i.e., a stated dollar amount per share or %of par value per share. This means that when the board of directors of a corporation declares dividends, preferred shareholders will receive the specified dividend prior to any dividends being paid to common shareholders.b. A preference over common shareholders in the distribution of assets in the event the corporationis dissolved.Question 18-10If preferred shares are noncumulative, dividends not declared in any given year need never be paid. However, if cumulative, when the specified dividend is not paid in a given year, the unpaid dividends accumulate and must be made up in a later dividend year before any dividends are paid on common shares. These unpaid dividends are called ―dividends in arrears.‖Question 18-11Par value was defined by early corporation laws as the amount of net assets not available for distribution to shareholders (as dividends or otherwise). However, now the concepts of ―par value‖ and ―legal capital‖ have been eliminated entirely from the Mod el Business Corporation Act. Most shares continue to bear arbitrarily designated par values, typically nominal amounts. Although many states already have adopted these provisions, most established corporations issued shares prior to changes in the state statutes. So, most companies still have par value shares outstanding and continue to issue previously authorized par value shares.Answers to Questions (continued)Question 18-12Comprehensive income is a broader view of the change in shareholders’ equ ity than traditional net income. It is the total nonowner change in equity for a reporting period. It encompasses all changes in equity except those caused by transactions with owners. Transactions between the corporation and its owners (shareholders) primarily include dividends and the sale or purchase of shares of the company’s stock. Most nonowner changes (e. g., revenues and expenses) are reported in the income statement. So, the changes other than the ones that are part of net income are those reported as ―other comprehensive income.‖Two attributes of other comprehensive income are reported: (1) components of comprehensive income created during the reporting period and (2) the comprehensive income accumulated over the current and prior periods.The components of comprehensive income created during the reporting period - can be reported either (a) as an additional section of the income statement, (b) as part of the statement of shareholders’ equity, or (c) in a disclosure note. Regardless of the choice a company makes, the presentation will report net income, other components of comprehensive income, and total comprehensive income. The second attribute - the comprehensive income accumulated over the current and prior periods–is reported as a sep arate component of shareholders’ equity. This amount represents the cumulative sum of the changes in each component created during each reporting period throughout all prior years. Question 18-13As part of a joint project with the FASB, the International Accounting Standards Board (IASB) in 2007 issued a revised version of IAS No.1,―Presentation of Financial Statements,‖ that revised the standard to bring international reporting of comprehensive income largely in line with U.S. standards. It provides the option of presenting revenue and expense items and components of other comprehensive income either in (a) a single statement of comprehensive income or (b) two statements: an income statement and a statement of comprehensive income, traditionally referred to as the Statement of Recognized Income and Expense, or ―SoRIE.‖ U.S. GAAP also allows reporting other comprehensive income in the statement of shareholders’ equity, which is the way most U.S. companies report it.Question 18-14The statement of shareho lders’ equity reports the transactions that cause changes in its shareholders’ equity account balances. It shows the beginning and ending balances in primary shareholders’ equity accounts and any changes that occur during the years reported. Typical reas ons for changes are the sale of additional shares of stock, the acquisition of treasury stock, net income, and the declaration of dividends.Question 18-15The measurement objective is that the transaction should be recorded at fair value. This might be the fair value of the shares or of the noncash assets or services received, whichever evidence of fair value seems more clearly evident. This is consistent with the general practice of recording any noncash transaction at market value.Answers to Questions (continued)Question 18-16The cash received usually is the sum of the separate market values of the separate securities. However, when the total selling price is not equal to the sum of the separate market prices, the total selling price is allocated in proportion to their relative market values.Question 18-17Share issue costs reduce the net cash proceeds from selling the shares and thus paid-in capital –excess of par. On the other hand, debt issue costs are recorded in a separate ―debt issue costs‖ account and amortized to expense over the life of the debt. The difference often is justified by the presumption that share issue costs and debt issue costs are fundamentally different because a debt issue has a fixed maturity, but that selling shares represents a perpetual equity interest. Concept Statement 6 disagrees, stating that debt issue costs should be treated the same way as share issue costs. But, Concept Statements do not constitute GAAP, and the currently prescribed practice is to record debt issue costs as assets and expense the asset over the maturity of the debt.Question 18-18The same accounts that previously were increased when the shares were sold are decreased when the shares are retired. Specifically, common (or preferred) stock and paid-in capital – excess of par are reduced by the same amounts they were increased by when the shares were originally sold.If the cash paid to repurchase the shares differs from the amount originally paid in, accounting for the difference depends on whether the cash paid to repurchase the shares is less than or more than the price previously received when the shares were sold. When less cash is distributed to shareholders to retire shares than originally paid in, some of the original investment remains and is labeled paid-in capital –share repurchase. When more cash is distributed to shareholders to retire shares than originally was paid in for those shares, the additional amount is viewed as a dividend on the original investment, and thus a reduction of retained earnings (unless previous share repurchases have created a balance in paid-in capital – share repurchase which would be reduced first).Question 18-19The purchase of treasury stock and its subsequent resale are considered to be a ―single transaction.‖ The purchase of treasury stock is perceived as a temporary reduction of shareholders' equity, to be reversed later when the treasury stock is resold, so the cost of acquiring the shares is ―temporarily‖ debited to the treasury stock account. Allocating the effects to specific shareholders’ equity accounts is deferred until the shares are subsequently reissued.Answers to Questions (concluded)Question 18-20For a stock dividend of less than 25%, a "small" stock dividend, the fair value of the additional shares distributed is transferred from retained earnings to paid-in capital. The reduction in retained earnings is the same amount as if cash dividends were paid equal to the market value of the shares issued. The treatment is consistent with the belief that per share prices remain unchanged by stock dividends.This is not logical. If the value of each share were to remain the same when additional shares are distributed without compensation, the total value of the company would grow simply because additional stock certificates are distributed. Instead, the market price per share will decline in proportion to the increase in the number of shares distributed in a stock dividend.Question 18-21The effect and maybe the motivation for the stock split is to reduce the per share market price (by half). This will likely increase the stock’s marketability by making it attractive to a larger number of potential investors. The appropriate accounting treatment of a stock split is to make no journal entry, which avoids the reclassification of ―earned‖ capital as ―invested‖ capital. However, if the stock distribution is referred to as a "stock split effected in the form of a stock dividend," and the per share par value of the shares is not changed, a journal entry is recorded that increases the common stock account by the par value of the additional shares. To avoid reducing retained earnings Brandon can reduce (debit) paid-in capital –excess of par to offset the credit to common stock, although it’s permissible to debit retained earnings.Question 18-22When a company decreases, rather than increases, its outstanding shares a reverse stock split occurs. A 1 for 2 reverse stock split would cause one million $1 par shares to become one-half million $2 par shares. No journal entry would be recorded, so no account balances will change. But the market price per share would double, and the par amount per share would double.Question 18-23You would be entitled to 3.2 shares (4% x 80 shares). Since cash in lieu of payments usually are made when shareholders are entitled to fractions of whole shares, you probably would receive 3 shares and cash equal to the market value of 1/5 of one share. Sometimes fractional share rights are issued for the partial shares, which would entitle you to a fractional share right for 1/5of a share.Question 18-24A quasi reorganization allows a company to (1) write down inflated asset values and (2) eliminate an accumulated deficit in retained earnings. The following steps are taken:1. Assets and liabilities are revalued to reflect their fair values, with corresponding credits or debitsto retained earnings. This may temporarily increase the deficit.2. The debit balance in retained earnings is eliminated against additional paid-in capital. Whenadditional paid-in capital is not sufficient to absorb the entire deficit,capital stock is debited.3. Disclosure is provided to indicate the date the deficit was eliminated and when the newaccumulation of earnings began.BRIEF EXERCISESBrief Exercise 18-1Two attributes of other comprehensive income are reported: (1) components of comprehensive income created during the reporting period($15 million in this instance) and (2) the comprehensive income accumulated over the current and prior periods ($50 million at the end of this year).The $50 million represents the cumulative sum of the changes in each component created during each reporting period (the disclosure note) throughout all prior years. Since this amount increased by $15 million, the balance must have been $35 million last year.Brief Exercise 18-2($ in millions) Cash (8 million shares x $12 per share) (96)Common stock (8 million shares x $1 par per share) (8)Paid-in capital – excess of par (remainder) (88)Lewelling’s paid-in capital – excess of par will increase by $860,000: 4,000 hours x $240 less $100,000 par.Journal entry (not required):Legal expense (4,000 hours x $240) .................................... 960,000Common stock (100,000 shares x $1 par per share)............... 100,000Paid-in capital – excess of par (remainder) ................... 860,000Brief Exercise 18-4Hamilton’s shareholders’ equity will increase by $3,500,000 as a result of this transaction.Journal entry (not required):Inventory of motors (1,000 x $3,500)................................. 3,500,000Common stock ............................................................. 3,500,000MLS’s common shareholders’ will receive dividends of $18 million as a result of the 2011 distribution.Preferred Common2009 $20 million*02010 20 million**02011 32 million***$18 million(remainder)* $24 million current preference (6% x $400 million), thus $4 million dividends in arrears.**$24 million current preference (6% x $400 million), thus another $4 million dividends in arrears.*** $8 million dividends in arrears plus the $24 million current preference.Brief Exercise 18-6Horton’s total paid-in capital will decline by $17 million, the price paid to buy back the shares.Journal entry (not required):($ in millions) Common stock (2 million shares x $1 par) (2)Paid-in capital – excess of par (2 million shares x $9*) (18)Paid-in capital – share repurchase (difference) (3)Cash (2 million shares x $8.50 per share) (17)* Paid-in capital – excess of par: $900 ÷ 100 million sharesBrief Exercise 18-7Agee’s total paid-in capital will decline by $18 million because recording thetransaction involves a $1 million reduction of retained earnings and an $18 million reduction in paid-in capital accounts.Journal entries (not required):First buyback ($ in millions)Common stock (1 million shares x $1 par) (1)Paid-in capital – excess of par (1 million shares x $15*) (15)Paid-in capital – share repurchase (difference) (2)Cash (1 million shares x $14) (14)* $16 - $1 parSecond buybackCommon stock (1 million shares x $1 par) (1)Paid-in capital – excess of par (1 million shares x $15*) (15)Paid-in capital – share repurchase (balance from first buyback).. 2Retained earnings (difference) (1)Cash (1 million shares x $19) (19)* $16 - $1 parBrief Exercise 18-8Jennings’ retained earnings will decline by $2 million because the $67 million sale price is less than the sum of the cost of the treasury stock ($70 million) and paid-in capital from the previous treasury stock sale ($1 million).Journal entries (not required):Purchase of treasury stock ($ in millions)Treasury stock (2 million shares x $70) (140)Cash (140)First sale of treasury stockCash (1 million shares x $71) (71)Treasury stock (1 million shares x $70) (70)Paid-in capital – share repurchase (remainder) (1)Second sale of treasury stockCash (1 million shares x $67) (67)Paid-in capital – share repurchase (balance from first sale) (1)Retained earnings (remainder) (2)Treasury stock (1 million shares x $70) (70)Brief Exercise 18-9Cox’ paid-in capital – share repurchase will increase by $7 million as determined in the following journal entry:($ in millions) Cash (1 million shares x $29) (29)Paid-in capital – share repurchase (difference) (7)Treasury stock (1 million shares x $22*) (22)* 2 million shares x $20 = $40 million1 million shares x $26 = 26 million3 million shares $66 million$66 million ÷ 3 million shares = $22 average cost per shareBrief Exercise 18-10Cox’ paid-in capital – share repurchase will increase by $9 million as determined in the following journal entry:($ in millions) Cash (1 million shares x $29) (29)Paid-in capital – share repurchase (difference) (9)Treasury stock (1 million shares x $20*) (20)* 2 million shares x $20 = $40 million (first million at $20)1 million shares x $26 = 26 million$66 millionBrief Exercise 18-11Declaration date ($ in millions) Retained earnings .............................................................. 1,158Cash dividends payable (8,908 million shares x $.13)....... 1,158 Date of recordno entryPayment dateCash dividends payable .................................................... 1,158Cash .............................................................................. 1,158Brief Exercise 18-12Declaration dateLoss on investment ($37,000 - 35,000)................................ 2,000Investment in GE stock ................................................ 2,000Retained earnings (1,000 shares at $35 per share) ......................35,000Property dividends payable .......................................... 35,000 Payment dateProperty dividends payable .............................................. 35,000Investment in GE stock ................................................ 35,000Brief Exercise 18-13($ in millions) Retained earnings (3 million* shares at $25 per share) (75)Common stock (3 million* shares at $1 par per share) (3)Paid-in capital – excess of par (remainder) (72)* 5% x 60 million shares = 3 million sharesBrief Exercise 18-14If a stock split is not to be effected in the form of a stock dividend, no entry isrecorded. Since the shares double, but the balance in the common stock account is not changed, the par per share is reduced, to $.50 in this instance.Brief Exercise 18-15($ in millions) Paid-in capital – excess of par 60Common stock (60 million shares* x $1 par per share)60* 100% x 60 million shares = 60 million sharesIf the per share par value of the shares is not to be changed, the stock distribution is referred to as a "stock split effected in the form of a stock dividend." In that case, the journal entry increases the common stock account by the par value of the additional shares. This prevents the increase in shares from reducing (by half in this case) the par per share. The par is $1 before and after the split.Brief Exercise 18-16If Nestle used U.S. GAAP:∙Ordinary share capital would be Common stock,∙Share premium would be Paid-in capital–excess of par, and∙Translation reserve would be Net gains (losses) from foreign currency translation–AOCI.EXERCISESExercise 18-1Requirement 1Comprehensive income is a mor e expansive view of the change in shareholders’ equity than traditional net income. It is the total nonowner change in equity for a reporting period. In fact, it encompasses all changes in equity other than from transactions with owners. Transactions between the corporation and its shareholders primarily include dividends and the sale or purchase of shares of the company’s stock. Most nonowner changes are reported in the income statement. So, the changes other than those that are part of net income are the ones reported as ―other comprehensive income.‖Requirement 2Two attributes of other comprehensive income are reported: (1) components of comprehensive income created during the reporting period and (2) the comprehensive income accumulated over the current and prior periods.The second measure - the comprehensive income accumulated over the current and prior periods–is reported in the balance sheet as a separate component of shareholders’ equity. This is what Kaufman reported in its balance shee t ($107 million in 2011). Be sure to realize this amount represents the cumulative sum of the changes in each component created during each reporting period (the disclosure note) throughout all prior years.Exercise 18-1 (continued)Requirement 3Kaufman's 2011 balance sheet amount ($107 million) differs from the 2011 amount reported in the disclosure note. On the other hand, the comprehensive income created during the reporting period can be reported either (a) as an additional section of the income s tatement, (b) as part of the statement of shareholders’ equity, or (c) in a disclosure note. This is the measure of comprehensive income Kaufman reported in the disclosure note. Regardless of the placement a company chooses, the presentation is similar. It will report net income, other components of comprehensive income, and total comprehensive income, similar to the following:($ in millions) Net income $xxx Other comprehensive income:Net unrealized holding gains (losses) on investments (net of t ax)†$ xGains (losses) from and amendments to postretirement plans (net of tax)‡(x)Deferred gains (losses) from derivatives (net of tax)§ xGains (losses) from foreign currency translation (net of tax)* x xx Comprehensive income $xxx†Changes in the fair value of securities available-for-sale. (An unrealized loss also might occur from recording an ―other than temporary‖ impairment of an investment in debt securities. As described in Chapter 12, if the fair value of a debt security investment falls below its amortized cost, and that decline if viewed as other than temporary, the current period credit loss is included in net income, but any amount that exceeds the current period credit loss is recorded as a loss in OCI.)‡Gains and losses due to revising assumptions or market returns differing from expectations and prior service cost from amending the plan (described in Chapter 17).§When a derivative designated as a cash flow hedge is adjusted to fair value, the gain or loss is deferred as a component of comprehensive income and included in earnings later, at the same time as earnings are affected by the hedged transaction (described in the Derivatives Appendix to the text).* Gains or losses from changes in foreign currency exchange rates from the translation of foreign subsidiary financial statements. The amount could be an addition to or reduction inshareholders’ equity. (This item is discussed elsewhere in your accounting curriculum.)Notice that each component is reported net of its related income tax expense or income tax benefit.Exercise 18-1 (concluded)Requirement 4From the information Kaufman's financial statements provide, we can determine how the company calculated the $107 million accumulated other comprehensive income in 2011:($ in millions) Accumulated other comprehensive income, 2010 $75Change in net unrealized gains on investments 34 Change in ―other‖ (2) Accumulated other comprehensive income, 2011 $ 107Exercise 18-2Requirement 1The specific citation that describes the guidelines for presenting accumulated other comprehensive income on the statement of shareholders’ equity is FASB ACS220–10–45–14: ―Comprehensive Income–Overall–Other Presentation Matters–Reporting Other Comprehensive Income in the Equity Section of a Statement of Financial Position.”Requirement 245-14 The total of other comprehensive income for a period shall be transferred to a component of equity that is displayed separately from retained earnings and additional paid-in capital in a statement of financial position at the end of an accounting period. A descriptive title such as accumulated other comprehensive income shall be used for that component of equity. An entity shall disclose accumulated balances for each classification in that separate component of equity on the face of a statement of financial position, in a statement of changes in equity, or in notes to the financial statements. The classifications shall correspond to classifications used elsewhere in the same set of financial statements for components of other comprehensive income.Exercise 18-3Indicate by letter whether each of the items listed below most likely is reported in the income statement as Net Income (NI) or in the statement of comprehensive income as Other Comprehensive Income (OCI).ItemsOCI 1. Increase in the fair value of securities available-for-saleNI 2. Gain on sale of landOCI 3. Loss on pension plan assets (actual return less than expected)OCI 4. Gain from foreign currency translationNI 5. Increase in the fair value of trading securitiesOCI 6. Loss from revising an assumption related to a pension planNI 7. Loss on sale of patentOCI 8. Prior service costNI 9. Increase in the fair value of bonds outstanding; fair value optionOCI 10. Gain on postretirement plan assets (actual return more than expected)Exercise 18-4Cash (3 million shares x $17.15 per share).............................. 51,450,000Common stock (3 million shares x $.01 par per share) ....... 30,000Paid-in capital – excess of par (remainder) ................... 51,420,000Exercise 18-5February 12Cash (2 million shares x $9 per share)................................ 18,000,000Common stock (2 million shares x $1 par) ................... 2,000,000 Paid-in capital – excess of par (difference) ................... 16,000,000February 13Legal expenses (40,000 shares x $9 per share).................. 360,000Common stock (40,000 shares x $1 par) ...................... 40,000 Paid-in capital – excess of par (difference) ...................320,000Note: Because 2 million shares sold the previous day for $9 per share, it’s reasonable to assume a $9 per share fair value.February 13Cash ............................................................................. 945,000Common stock (80,000 shares x $1 par) ..................... 80,000 Paid-in capital – excess of par, common*............... 640,000 Preferred stock (4,000 shares x $50 par) ...................... 200,000 Paid-in capital – excess of par, preferred**............ 25,000 * 80,000 shares x [$9 market value - $1 par]** Since the value of the common shares is known ($720,000), the market value of the preferred ($225,000) is assumed from the total selling price ($945,000).November 15Property, plant, and equipment (cash value).................. 3,688,000Common stock (380,000 shares at $1 par per share)...... 380,000 Paid-in capital – excess of par (difference) ............... 3,308,000。