《北美财务报告》课件.ppt
- 【下载声明】
1. 本站全部试题类文档,若标题没写含答案,则无答案;标题注明含答案的文档,主观题也可能无答案。请谨慎下单,一旦售出,不予退换。
2. 本站全部PPT文档均不含视频和音频,PPT中出现的音频或视频标识(或文字)仅表示流程,实际无音频或视频文件。请谨慎下单,一旦售出,不予退换。
3. 本页资料《《北美财务报告》课件.ppt》由用户(晟晟文业)主动上传,其收益全归该用户。163文库仅提供信息存储空间,仅对该用户上传内容的表现方式做保护处理,对上传内容本身不做任何修改或编辑。 若此文所含内容侵犯了您的版权或隐私,请立即通知163文库(点击联系客服),我们立即给予删除!
4. 请根据预览情况,自愿下载本文。本站不保证下载资源的准确性、安全性和完整性, 同时也不承担用户因使用这些下载资源对自己和他人造成任何形式的伤害或损失。
5. 本站所有资源如无特殊说明,都需要本地电脑安装OFFICE2007及以上版本和PDF阅读器,压缩文件请下载最新的WinRAR软件解压。
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 北美财务报告 北美 财务报告 课件
- 资源描述:
-
1、1FINANCIAL ACCOUNTING AND REPORTING IN NORTH AMERICAPresented at School of Management,UESTCByGeorge Lan,PhDAssociate Professor of AccountingUniversity Of WindsorWindsor,Ontario,CanadaMarch 19,2003天马行空官方博客:http:/ of Presentation-1nRoles of standard setting bodies(FASB,CICA),Managers,Auditors and Supp
2、liers of Capital(Investors and Creditors or lenders)See DiagramnInformation Economics Approach and Efficiency of capital markets nWorldCom,Enron and Arthur AndersennIncentives of Management to Manage Earnings 3Outline of Presentation-2nSteps to prevent scandals from occurring in the future?nSome Eth
3、ical PrinciplesnAn Ethical CasenQuestions regarding presentation or any other(accounting)questions.4Information Economics ApproachnInformation Asymmetry exists between the parties in business transactions.The managers(agents)have more information than the investors(principals).nManagers may attempt
4、to select policies or to release biased information that benefit themselves to the expense of the owners.n Role of Accounting:to provide information useful for rational decision-making.5Decision Usefulness ApproachnSection 1000 of CICA Handbook(par.1000.15):nThe objective of financial statements is
5、to communicate information that is useful to investors,members,contributors,creditors and other usersin making their resource allocation decisions and/or assessing management stewardship.6Objectives of Financial StatementsnStatements of Financial Accounting Concepts(1978)(SFAC 1):nTo provide informa
6、tion that is useful to present and potential investors and creditors and other users in making rational investment,credit,and similar decisions.nTo provide information to help present and potential investors and creditors in assessing the amounts,timing and uncertainty of prospective cash receipts f
7、rom dividends or interest.7Relevance and ReliabilitynTo be useful,accounting information should provide an informative information system that links current financial statements with future state realizations and payoffs.nAccounting information should be relevant I.e.has the capacity to affect inves
8、tors beliefs about future returns.nAccounting information should be reliable i.e.should faithfully represents what it purports to measure.It should be precise and free from bias.8Elements of Financial StatementsnAssets:Probable future economic benefits obtained or controlled as a result of past tran
9、sactions.nLiabilities:Probable future sacrifices of economic benefitsnOwners Equity:residual Interest in assets after deducting liabilities i.e.A=L+O.E.or O.E=A L.nRevenues:inflows of assets(or settlement of liabilities)arising from the entitys major or ongoing activities.9Accounting Principles-1nHi
10、storical Cost Principle i.e.recognise(record and report)assets and liabilities initially at the cash-equivalent cost.nRevenue Recognition Principle i.e.recognise revenues when earned(earning process is complete and an exchange has taken place).All necessary costs have been incurred and collection is
11、 assured usually at point at sale.10Accounting Principles-2nMatching Principle i.e.recognise all expenses incurred in producing revenues in the same period as the revenues.nFull Disclosure Principle i.e.disclose all relevant information.11LANS CLOTHING COMPANYnInvest 10,000 Yuans(Y)to start the busi
12、nessnBuy 1000 shirts at 5 Y each.nPay wages of 1000 Y for the first month.nSell 400 shirts at 20 Y each.nPay rent of 600 Y for the first 6 months.nIncurred miscellaneous expenses of 500 Y.nBorrowed 4800 Y and bought a truck.Truck will last for 4 years.nWhat is my net income for first month?Lans Clot
13、hingNet Income for first monthnNet Income before taxes=Revenues Expenses=400 X 20(sales)-400 X 5(cost of shirts sold)1000(wages expense)600/6(rent for one month)500(miscellaneous expenses)-4800/48(amortisation expense for 1 month)=4,300 Yuans13Standard Setting&Auditing-1nStandard setting or regulati
14、on is necessary to protect the investors(conflicting interests of investors and managers).The FASB(Financial Accounting Standards Board and the CICA(Canadian Institute of Chartered Accountants)are independent bodies.14Standard Setting&Auditing-2nAuditing(external)ensures that a third independent par
15、ty has examined the financial statements and that they are in accordance to GAAP(Generally Accepted Accounting Principles).15Efficient Securities MarketsnThe prices of securities(stocks)“properly reflect”all information that is publicly known about these securities.nInvestors will quickly adjust to
展开阅读全文