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Financial Accounting

01 Financial Statements​

学习目标​

  1. Explain why accounting is the language of business.
  2. Explain and apply underlying accounting concepts, assumptions and principles.
  3. Apply the accounting equation to business organizations.
  4. Evaluate business operations through the financial statements.
  5. Construct financial statements and analyze the relationships among them
  6. Evaluate business decisions ethically .

学习资源​

ifrs.org

iasplus.com

迪士尼的例子​

合并利润表

why accounting is the language of business​

measure , process data into reports , communicates results to decision makers.

who use accounting​

two kind of accounting​

  1. financial accounting . outside to : investors , creditors , government agencies , public
  2. managerial accounting. inside . budgets , forecasts , projections.

the various forms of business organization and the different​

Proprietorship 个体户，Partnership 合伙制，LLC 有限公司，Corporation 股份公司

owners and 'personal liability of owners for business debts' is different

corporation double taxation : corporation pays income tax , stockholders taxed on dividends(股息红利).

china have 3 accounting system​

  1. one for public
  2. one for smalll & medium
  3. one for

Underlying accounting concepts and assumptions , principles.​

两种国际专业标准​

GAAP ： 美国的 Formulated by the financial accounting standards board (FASB)

IFRS : International Financial Reporting Standards

Accounting Assumptions & Principles​

Relevance , Faithful .

Entity Assumption , Continuity Assumption, Historical Cost principle , Stable Monetary unit assumption

资产应该在他们购买的日期以真实成本被记录。货币的购买力应稳定。

Accounting equation​

Assets = Liabilities + owner's equity (stockerholder's equity)

会计名词​

revenues , expenses， dividends 股利，

net income , net earning 净盈余, net profit 净利润，net loss 净亏损。

Assets​

  • cash , cash equivalents
  • Inventories
  • Account receivable
  • Property , Plant , equipment

Liabilities​

  • Accounts payable
  • income taxes payable
  • long-term debt

Owner's Equity​

corporation's equity is called stockholders' equity and it has two parts:

  • Paid-in capital 实收资本 (common stock)
  • Retained earning 留在收益
  • dividends: distribution of the company's earning to its shareholders.

'Revenues for the period' - 'Expense for the period' = 'Net Income'(净收益 )

'beginning balance of the retained Earning' +/- 'Net Income' - 'Dividends for the period' = 'Ending balance of Retained earnings'

Dividends (股息，红利)：distribution of assets to the stockholders.

Evaluate the business operations through the financial statements.​

income statement， Retained Earning , Balance Sheet , Cash Flows . 销售表，收益表，财务平衡表，现金流量表。

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合并利润表​

image-20240923104035952

留存收益表​

image-20240923104010247

资产负债表​

image-20240923104153583

现金流量表​

image-20240923104340007

经营活动，投资活动，筹资活动。

评价一个公司，决策者关注什么​

image-20240923104608644

Cash Flow​

  • operating activities
  • invest activities
  • financing ... (pay or borrowing)

Relations among the financial statements​

各报表之间的关系。

Evaluate business decision ethically​

Economics , Legal , Ethical .

02 Transaction analysis​

learning objectives​

  1. what is a transaction
  2. define accounting and list and differentiate between different types of accounts
  3. show the impact of businesses transactions on the accounting equation
  4. analyze the impact of business transaction on accounts
  5. record transaction in the book
  6. Construct and use a trial balance

1. what is a transaction​

a transaction is any event has a financial impact on the business and can be measured reliably .

每一项交易包括两个方面：付出了什么，相应地收到了什么。

会计循环: 确认交易, 分析其对会计等式的影响 , 在日记账中记录交易, 将其过到分类账中。

2. define accounting and list and differentiate between different types of accounts​

the accounting equation express the basic relationship of accounting

an account is the record of all the changes in a particular asset , liability , stockholders' equity during a period .

Assets：cash ，revenue , accounts receivable , Inventory , 预付费用，investments , property, Plant, Equipment.

Liabilities ：accounts payable , notes payable , accrued liabilities( liabilitity for an expense you have not paid ) .

Stockholders' Equity: Common stock , Retained Earning( cumulative net income minus net loss and dividends over the company's life) , Dividends, Revenues , Expense .

3. show the impact of business transactions on the accounting equation​

4. analyze the impact of business transaction on accounts​

T-Account , left : debit ; right : credit .

经济交易的会计处理。所有的经济交易都包括：付出什么，得到什么。因此会计是基于复式记录体系而建立的，它记录交易对经济主体的双重影响。double entry system , records dual effects of each transaction.

the T - Account​

资产的增加记在左边，减少记在右边。

负债和所有者权益增加记在右边，减少左边。

5. record transaction in the books （日记账和分类账）​

journal & ledger

日记账到分类账称为 过账。

6. construct and use trial Balance​

lists all accounts with their balances.

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账户表（chart of accounts）

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03 Accrual Accounting & Income​

1 explain how accural accounting differs from cash-basis accounting​

权责发生制和收入计量，会计期间 time-period concept

权责发生制可以避免一些在计付现结下的道德问题。

2 apply the revenue and expense recognition​

when to record revenud , what amount.

expense recognition principle. expense and revenue.

3 adjust the accounts​

Deferrals , Depreciation , Accruals (the opposite of a deferral)

prepaid expense are assets .

accumulated depreciation ---> Depreciation expense

unearned service revenue . 没有收入的费用发生时确认。

4 construct the financial statements​

基于流动性对资产进行分类

账务报表的格式​

资产负责表格式： 报告式，账户式

利润表格式： 单步式，多步式。

image-20240923123854447

5 close the books (结账)​

Prepares the accounts for the next period. close temporary accounts. 永久性账户（不做结账处理，金额延续）

closing entries 结账分录合收入类账户和费用类账户的余额归零。这与在比赛结束后记分牌归零是同样的道理。

6 analyze the evaluate a compan's debt paying ability​

current ratio(流动比率) : current assets / current liabilites 1.2~1.5 is good

Debt ratio: total liabilities / total assets

使用营运资本净额，资产负债率，流动比率，评价债务偿付能力。

流动比率​

  • 流动比率大于1通常被认为是良好的，这意味着公司有足够的流动资产来覆盖其流动负债。
  • 流动比率低于1可能表示公司面临短期偿债压力，但也要结合行业标准和其他财务指标一起分析。
  • 流动比率过高可能意味着公司持有过多的现金或流动资产，这可能不是最有效的资本使用方式。

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费用​

05 短期投资与 receivable​

cash flow are solely payment of principal and interest . 本金&利息。

Amortised cost 均摊成本

FVTPL fair value throuth profit loss

FVOCI Fair value through other comprehension income

06 Inventory & cost of good sold​

Depreciation​

3种折旧方法： 直线，单元，加速折旧。

Depletion 耗尽​

为什么无形资产要摊销？ 有时间周期。

Cost vs Expense​

成本和特定资产相关。

Finance Equity method < 20%

subsidary > 50%

invesment in associate

08 long term investments & time-valued of money​

10 StockerHolders's Equity​

the feature of a corporation​

stockerholder's rights​

class of stock​

  1. common stock
  2. preferred stock

par-value vs no-Par value

account for the issuance of stock​

treasury 回购股票​

compension stock 补偿股票​

account for retain earning​

dividends and splits​

  • declaration date
  • date of record
  • payment date

Liabilities​

收入准则

金融准则

保险准则

租赁准则

新型业务的兴起，商业模式的变化 。

判定融资租赁

  1. 金额
  2. 租期占寿命大于 75%
  3. 专有使用（转让成本极高）
  4. 产权转让极低成本，也可行。

经营租赁，融资租赁。

  1. 已识别资产
  2. 谁用
  3. 如何用
  4. 合同包含租赁 ， 合同不包含租赁。