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ID:39279944
大小:57.50 KB
页数:12页
时间:2019-06-29
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1、Word格式TheanalysisanduseoffinancialstatementChapter1FRAMEWORKFORFINANCIALSTATEMENTANALYSISNEEDFORFINANCIALSTATEMENTANALYSISTheUnitedSateshasthemostcomplexfinancialreportingsystemintheword..Detailedac-countingprinciplesareaugmentedbyextensivedisclosurerequirements.Thefinancials
2、tate-mentsoflargemultinationalsadduptodozensofpages,andmanyofthesefirmsvoluntarilypublishadditional“factbooks”fordisseminationtofinancialanalysisandotherinterestedusers.Financialreportinginothermajordevelopedcountriesandmanyemergingmarketshasalsoevolvedsubstantiallyinrecentye
3、ars.withanincreasingemphasisonprovidinginformationusefultobothdomesticandforeigncreditorsandequityinvestors.InternationalAccountingStandardshavebecomeacrediblerivaltoU.S.standards.Inanidealword,theuseroffinancialstatementscouldfocusonlyonthebottomlinesfinancialreporting:netin
4、comeandstockholders’equity.Iffinancialstatementswerecomparableamongcompanies(regardlessofcountry),consistentovertime,andalwaysfullyreflectingtheeconomicpositionoffirm,financialstatementanalysiswouldbesimple,andthistextaveryshortone.Thefinancialreportingsystemisnotperfect.Econ
5、omiceventsandaccountingentriesdonotcorrespondprecisely;theydivergeacrossthedimensionsoftiming,recognition,andmeasurement.Financialanalysisandinvestmentdecisionsarefurthercomplicatedbyvariationsinaccountingtreatmentamongcountriesineachofthesedimensions.Economiceventsandaccount
6、ingrecognitionofthoseeventsfrequentlytakeplaceatdifferenttimes.Oneexampleofphenomenonistherecognitionofcapitalgainsandlossesonlyuponsaleinmostcases.Appreciationofarealestateinvestment,whichtookplaceoveraperiodofmanyyears,forexample,receivesincomestatementrecognitiononlyinthep
7、eriodmanagementchoosesforitsdisposal.Similarly,long-livedassetsarewrittendown.Mostoftime.Inthefiscalperiodofmanagement’schoice.Theperiodofrecognitionmaybeneithertheperiodinwhichtheimpairmenttookplacenortheperiodofsaleordisposal.Accountingfordiscontinuedoperations.Inthesameman
8、ner.Resultsin完美整理Word格式recognitionoflossinaperioddifferentfromwhenth
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