XXXX中级财务会计英文版第十五章-财务报表FA15thefin.pptx

Financial StatementsvChapter 15Intermediate Accounting12th EditionKieso, Weygandt, and Warfield 1. Explain the uses and limitations of a balance sheet.2. Prepare a classified balance sheet using the report and account formats.3. Understand the uses and limitations of an income statement.4. Prepare a multiple-step income statement.5. Understand the usefulness of the statement of cash flows.6. Identify the major classifications of cash flows.7. Prepare a statement of cash flows.Learning ObjectivesBalance SheetStatement of Cash FlowsUsefulnessClassification Preparation WorksheetFinancial StatementsUsefulnessLimitationsClassificationpreparationIncome StatementUsefulnessLimitationsFormspreparationIntroduc-tion Type of Financial Statements PreparingRequirementNotesStatement of changes in OE定义定义格式格式 填列填列 财务报表是对企业财务状况、经营成果和现金财务报表是对企业财务状况、经营成果和现金流量的结构性表述。流量的结构性表述。Introduction of Financial Statements1 1、按反应内容分类、按反应内容分类动态报表动态报表2 2、按编报期间分类、按编报期间分类汇总报表汇总报表个别报表个别报表3 3、按编报主体分类、按编报主体分类月报月报季报季报半年报半年报中期报表中期报表静态报表静态报表年度报表年度报表合并报表合并报表Type of Financial StatementsRequirement about preparing Financial Statements（一）列报基础（一）列报基础持续经营持续经营（三）重要性和项目列报（三）重要性和项目列报1 1、性质或功能不同的项目，一般应单独列报。、性质或功能不同的项目，一般应单独列报。2 2、性质或功能类似的项目，其所属类别具有重要、性质或功能类似的项目，其所属类别具有重要性的，应按其类别列报。性的，应按其类别列报。（二）列报的一致性（二）列报的一致性 财务报表中的资产和负债、收入和费用不能相互抵消。财务报表中的资产和负债、收入和费用不能相互抵消。下列不属于抵消：下列不属于抵消：1 1、资产项目按扣除减值准备后的金额列示、资产项目按扣除减值准备后的金额列示2 2、非日常活动产生的损益按净额列示、非日常活动产生的损益按净额列示（四）财务报表项目金额间的相互抵消（四）财务报表项目金额间的相互抵消（五）比较信息的列报（五）比较信息的列报（六）财务报表表首的列报（六）财务报表表首的列报（七）准则规定单独列报的项目应单独列报。（七）准则规定单独列报的项目应单独列报。 资产负债表是反映企业某一特定日期财务状资产负债表是反映企业某一特定日期财务状况的会计报表。况的会计报表。The Balance SheetEvaluating the capital structure.Assess risk and future cash flows.Analyze the companys: Liquidity, Solvency, and Financial flexibility.Usefulness of the Balance SheetMost assets and liabilities are reported at historical cost.Use of judgments and estimates.Many items of financial value are omitted.Limitations of the Balance SheetThree General Classifications AssetsLiabilities, andStockholders EquityClassification in the Balance SheetCash34,000$ Short-term debt20,000$ Asccounts recievable80,000 Accounts payable35,000 Merchandise inventory170,000 Other accrued liabilities12,000 Total current asets284,000$ Total current liabilities67,000$ Plant and EquipmentLong-term debt50,000 Equipment40,000 Total Liabilities117,000 Less: Accumulated depreciation (4,000)Owners equity203,000 Total Assets320,000$ Total liabilities and owners equity320,000$ Current AssetsCurrent LiabilitiesMain Street Store, Inc.Balance SheetAugust 31, 2004AssetsLiabilities and Owners EquityLiabilitiesEquityAssets=+Cash and other assets a company expects to convert into cash, sell, or consume either in one year or in the operating cycle, whichever is longer. Current AssetsLong-Term InvestmentsNoncurrent AssetsProperty, Plant, and EquipmentIntangiblesOther Assets“Obligations that a company reasonably expects to liquidate either through the use of current assets or the creation of other current liabilities.”Current Liabilities“Obligations that a company does not reasonably expect to liquidate within the normal operating cycle.”Long-Term LiabilitiesCompanies usually divide equity into three parts, (1) Capital Stock, (2) Additional Paid-In Capital, and (3) Retained Earnings.Owners Equity(a) Investment in preferred stockBalance Sheet Classification ExerciseAccount(b)Treasury stock(c) Common stock(d)Cash dividends payable(e) Accumulated depreciation(f) Interest payable(g) Deficit(h)Trading securities(i) Unearned revenue(a) Current asset/Investment(b)Equity (c) Equity(d)Current liability(e) Contra-asset(f) Current liability(g) Equity(h)Current asset(i) Current liabilityClassificationPreparation of the balance sheet“年初余额年初余额”栏：栏：上年末资产负债表的上年末资产负债表的“期末余期末余额额”。 2 2. .根据总账科目期末余额分析计算填列；根据总账科目期末余额分析计算填列；“期末余额期末余额”栏：栏： 1 1. .根据总账科目期末余额直接填列；根据总账科目期末余额直接填列； 3.3.根据明细科目期末余额分析计算填列；根据明细科目期末余额分析计算填列； 4 4. .根据总账科目余额减去其备抵科目余额后的净根据总账科目余额减去其备抵科目余额后的净额填列；额填列； 5 5. .根据表内项目计算根据表内项目计算填列。填列。Evaluate past performance.Predicting future performance.Help assess the risk or uncertainty of achieving future cash flows.Income StatementUsefulness of the Income Statement 利润表是反映企业在一定会计期间的经营成果利润表是反映企业在一定会计期间的经营成果的会计报表。的会计报表。Companies omit items that cannot be measured reliably.Income is affected by the accounting methods employed. Income measurement involves judgment.Limitations of the Income StatementRevenues SalesFee revenueInterest revenueDividend revenueRent revenueExamples of Revenue AccountsElements of the Income StatementExpenses Cost of goods soldDepreciation expenseInterest expenseRent expenseSalary expenseExamples of Expense AccountsGains Increases in equity (net assets) from peripheral or incidental transactions.Losses - Decreases in equity (net assets) from peripheral or incidental transactions. Gains and losses can result fromsale of investments or plant assets, settlement of liabilities, write-offs of assets.An important business indicator.Measures the dollars earned by each share of common stock.Must be disclosed on the the income statement.Earnings Per Share= Net income - Preferred dividends Weighted average number of shares outstandingSingle-StepIncome Statement (in thousands)Revenues:Sales285,000$ Interest revenue17,000 Total revenue302,000 Expenses:Cost of goods sold149,000 Advertising expense10,000 Depreciation expense43,000 Interest expense21,000 Income tax expense24,000 Total expenses247,000 Net income55,000$ Earnings per share0.75$ Forms of the income statementSeparates operating transactions from nonoperating transactions.Matches costs and expenses with related revenues. Highlights certain intermediate components of income that analysts use. Multiple-StepBackgroundIncome Statement (in thousands)Sales285,000$ Cost of goods sold149,000 Gross profit136,000 Operating expenses:Advertising expense10,000 Depreciation expense43,000 Total operating expense53,000 Income from operations83,000 Other revenue (expense):Interest revenue17,000 Interest expense(21,000) Total other(4,000) Income before taxes79,000 Income tax expense24,000 Net income55,000$ Earnings per share0.75$ 4.4.根据相关规定计算填列。根据相关规定计算填列。“上期金额上期金额”栏：栏：上年利润表的上年利润表的“本期金额本期金额”。2.2.根据有关总账科目的发生额分析计算填列；根据有关总账科目的发生额分析计算填列；“本期金额本期金额”栏：栏：1.1.根据有关总账科目的本期发生额直接填列；根据有关总账科目的本期发生额直接填列；3 3. .根据表内项目计算填列；根据表内项目计算填列；Preparation of the Income StatementThe Statement of Cash Flows 现金流量表是反映企业在一定会计期间现金和现金流量表是反映企业在一定会计期间现金和和现金等价物流入和流出的会计报表。和现金等价物流入和流出的会计报表。Usefulness1.Entitys ability to generate future cash flows.2.Entitys ability to pay dividends and obligations.3.Reasons for difference between net income and net cash flow from operating activities.4.Cash and noncash investing and financing transactions.库存现金库存现金 银行存款银行存款 其他货币资金其他货币资金 现金等价物现金等价物 现金各项目之间的转换、非现金各项目之间的现金各项目之间的转换、非现金各项目之间的转换都不会产生现金流量。转换都不会产生现金流量。注意注意 highly liquid, short-term investments that can be converted into cash with little delay.Cash on handCash in the bankThe term “Cash” = Cash and cash equivalentsClassification of Cash FlowsIncome Statement ItemsOperating ActivitiesGenerally Long-Term Asset ItemsInvesting ActivitiesGenerally Long-Term Liability and Equity ItemsFinancing Activities 企业投资和筹资活动以外企业投资和筹资活动以外的所有交易和事项。的所有交易和事项。Operating activities create revenues, expenses, gains, and losses. 企业长期资产的购建和不企业长期资产的购建和不包括在现金等价物范围内的投包括在现金等价物范围内的投资及处置活动。资及处置活动。Investing activities increase and decrease long-term assets. 导致企业资本及债务规模导致企业资本及债务规模和构成发生变化的活动。和构成发生变化的活动。 Financing activities obtain cash from investors and creditors.Income Statement ItemsGenerally Long-Term Asset ItemsGenerally Long-Term Liability and Equity ItemsThree Sources of Information:1.Comparative balance sheets2.Current income statement3.Selected transaction dataSteps in PreparationThree Major Steps:Step 1. Determine change in cash.Step 2. Determine net cash flow from operating activities.Step 3. Determine net cash flows from investing and financing activities.Balance Sheet12/31/07Balance Sheet12/31/08Fiscal 2008A = L + OEA = L + OERevenue- ExpensesNet IncomeIncome StatementStatement of Changes in OEBeginning BalancesPaid-in Capital ChangesRetained Earnings Changes:+ Net Income-DividendsEnding BalancesStatement of Cash FlowsCash Provided (Used) by:Operating ActivitiesInvesting ActivitiesFinancining Activities+ Beginning Cash BalanceEnding Cash Balance A company must determine revenues and expenses on a cash basis. Eliminate the effects of income statement transactions that do not result in an increase or decrease in cash.Convert net income to net cash flow from operating activities through either a direct method or an indirect method.Step 2: Determine Net Cash Flow from Operating ActivitiesIndirect MethodCommon adjustments to Net Income (Loss):Depreciation and amortization expense.Gain or loss on disposition of long-term assets.Change in current assets and current liabilities.Adjusts net income for items not affecting cash.Krauss Companys financial statements for the year ended December 31, 2007, contained the following condensed information.20072006ChangeRevenues from fees840,000$ Operating expenses624,000 Depreciation expense60,000 Loss on sale of equipment26,000 Income before income tax130,000 Income tax40,000 Net income90,000$ Accounts receivable37,000$ 54,000$ (17,000)$ Accounts payable41,000 31,000 10,000 Income taxes payable4,000 8,500 (4,500) Prepare the operating activities section of the statement of cash flows using the indirect method (Step 2).Cash flows from operating activitiesNet income90,000$ Adjustment to reconcile net income to net cash provided by operating activities: Depreciation expense60,000 Loss on sale of equipment26,000 Decrease in accounts receivable17,000 Increase in accounts payable10,000 Decrease in income taxes payable(4,500) Net cash provided by operating activities198,500 Direct Method “Net cash provided by operating activities” is the equivalent of cash basis net income.Deducts operating cash disbursements from operating cash receipts.Krauss Companys financial statements for the year ended December 31, 2007, contained the following condensed information.20072006ChangeRevenues from fees840,000$ Operating expenses624,000 Depreciation expense60,000 Loss on sale of equipment26,000 Income before income tax130,000 Income tax40,000 Net income90,000$ Accounts receivable37,000$ 54,000$ (17,000)$ Accounts payable41,000 31,000 10,000 Income taxes payable4,000 8,500 (4,500) Prepare the operating activities section of the statement of cash flows using the Direct method (Step 2).Computation of cash receipts from customers:Revenue from fees840,000$ Add: Decrease in accounts receivable17,000 Cash receipts from customers857,000$ Computation of cash payments for operating expenses:Operating expenses624,000$ Deduct: Increase in accounts payable(10,000) Cash payments for operating expenses614,000$ orAccounts payable, balance 200631,000$ Add: Operating expenses624,000 Deduct: Cash payments for operating expenses (614,000) Accounts payable, balance 200741,000$ Computation of cash payments for income taxes:Income tax expense40,000$ Add: Decrease in income tax payable4,500 Cash payments for income taxes44,500$ orIncome tax payable, balance 20068,500$ Add: Income tax expense40,000 Deduct: Cash payments for income taxes(44,500) Income tax payable, balance 20074,000$ Cash flows from operating activitiesCash receipts from customers $ 857,000 Cash paid for operating expenses (614,000)Cash paid for income taxes (44,500)Net cash provided by operating activities 198,500 Direct Versus Indirect ControversyIn Favor of the Direct MethodShows operating cash receipts and payments.Information about cash receipts and payments is more revealing of a companys ability 1.to generate sufficient cash from operating activities to pay its debts, 2.to reinvest in its operations, and 3.to make distributions to its owners.In Favor of the Indirect MethodFocuses on the differences between net income and net cash flow from operating activities.Provides link between the statement of cash flows and the income statement and balance sheet.Special Rules Applying to Indirect MethodsDisclose Interest paid.Disclose Income taxes paid.E23-2 (a) Plant assets that had cost $20,100 6 years before and were being depreciated on a straight-line basis over 10 years with estimated scrap value $1,000 were sold for $5,400.Step 3: Determine Net Cash Flow from Investing and Financing ActivitiesE23-2 (b) During the year, 10,000 shares of common stock with a stated value of $10 a share were issued for $43 a share.Shares sold10,000 Market value per share43$ Value of shares430,000$ E23-2(d) The company sustained a net loss for the year of $50,000. Depreciation amounted to $22,000, and a gain of $9,000 was realized on the sale of land for $39,000 cash.E23-2 (h) During the year, treasury stock costing $47,000 was purchased.Statement of Cash FlowsStatement of Cash FlowsCash flow from operating activitiesNet income (loss)(50,000)$ Adjustment to reconcile net income to cash:Depreciation expense22,000 Loss on sale2,700 Gain on sale(9,000) Cash from operations(34,300) Cash flow from investing activitiesSale of plant assets5,400 Sale of land39,000 Cash from investing activities44,400 Cash flow from financing activitiesSale of common stock430,000 Purchase of company stock(47,000) Cash from financing activities383,000 Net Change in Cash393,100$ Use of a WorksheetA worksheet involves the following steps.Step 1. Enter the balance sheet accounts and their beginning and ending balances in the balance sheet accounts section.Step 2. Enter the data that explain the changes in the balance sheet accounts and their effects on the statement of cash flows in the reconciling columns of the worksheet.Step 3. Enter the increase or decrease in cash on the cash line and at the bottom of the worksheet. This entry should enable the totals of the reconciling columns to be in agreement. 所有者权益变动表是反映构成企业所有者权所有者权益变动表是反映构成企业所有者权益的各组成部分当期增减变动情况的报表。益的各组成部分当期增减变动情况的报表。1 1、反映所有者权益各组成部分的增减变动；、反映所有者权益各组成部分的增减变动；2 2、体现了企业综合收益。、体现了企业综合收益。This financial statement shows the detail of owners equity and explains the changes that occurred in the components of owners equity during the year.Statement of changes in Owners Equity一、所有者权益变动表的定义一、所有者权益变动表的定义二、所有者权益变动表的格式二、所有者权益变动表的格式1 1、上年年末余额、上年年末余额2 2、本年年初金额、本年年初金额3 3、本年增减变动金额、本年增减变动金额净利润净利润直接计入所有者权益的利得和损失直接计入所有者权益的利得和损失所有者投入和减少资本所有者投入和减少资本（一）表头（一）表头（二）正表（二）正表4 4、本年年末余额、本年年末余额利润分配利润分配所有者权益内部结转所有者权益内部结转The Statement of Stockholders Equity三、所有者权益变动表的填列三、所有者权益变动表的填列“上年金额上年金额”栏：栏： 上年所有者权益变动表的上年所有者权益变动表的“本年金额本年金额”。“本年金额本年金额”栏：栏： 1 1、根据有关准则分析填列。、根据有关准则分析填列。 2 2、根据其他报表项目填列。、根据其他报表项目填列。 3 3、根据所有者权益账户的发生额分析填列。、根据所有者权益账户的发生额分析填列。 4 4、根据表内项目计算填列。、根据表内项目计算填列。Notes are the means of amplifying or explaining the items presented in the main body of the statements.Notes to the Financial StatementsAccounting PoliciesCompanies should present a statement identifying the accounting policies adopted (Summary of Significant Accounting Policies).Common NotesInventory Property, Plant, and Equipment Creditor Clai