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1、外文翻译ThefinancialreportingMaterialSource:wanfangAuthor:WallmanAnunderstandingoftheconceptualbasesofthefinancialofthereportingsystemandofthepreparationoffinancialstatementsareessentialprerequisitestofinancialanalysis.Corporatemanagementissuesfinancialstatemen
2、tsandisresponsiblefortheirformandcontent.Itismanagementthatselectsaccountingmethods,compilesaccountingdata,andpreparethefinancialstatements.Forsmallercompanies,auditorsmaycarryoutportionsofthepreparationwork.Theaccountingprocessorfinancialreportingsystem,wh
3、ichgeneratesfinancialinformationforexternalusers,encompassesfiveprincipalfinancialstatements:1.Balancesheet(statementoffinancialposition)2.Incomestatement(statementofearings)3.Statementofcomprehensiveincome4.Statementofcashflows5.Statementofstockholders’equ
4、ityThesefivefinancialstatement,byfootnotesandsupplementarydata,areinterrelated.Collectively,theyareintendedtoproviderelevant,reliable,andtimelyinformationessentialtomakinginvestment,credit,andsimilardecisions,thusmeetingtheobjectivesoffinancialreporting.Ane
5、xampleisthe1999financialstatementsofPfizer,containedintheCDaccompanyingthetext.Financialstatementsprovideinformationabouttheassets,liabilities,incomeandcashflows,andstockholders’equityofthefirm.Theeffectsoftransactionsandothereventsarerecordedintheappropria
6、tefinancialstatement(s).Theincomestatementreportsrevenues,expenses,andgainsandlosses.Thebalancesheetshowsassets,liabilities,andstockholders’equity;thestatementofstockholders’equityreportscapitaltransactionswithowners.Thestatementofcomprehensiveincomereports
7、changesincertainbalancesheetaccountsthatbypasstheincomestatement.Thestatementofcashflowsincludesoperating,investing,andfinancinginflowsandoutflows.Manytransactionsarereflectedinmorethanonestatementsothattheentiresetisrequiredtoevaluatethefirm.Thefinancialre
8、portingsystemisbasedondatageneratedfromaccountingeventsandselectedeconomicevents.Thefinancialstatementrecognizeeventandtransactionsmeetingcertaincriteria,primarilyexchangetransactions(theexchangeofcash
