[财会考试]财务报表讲义

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1、FinancialStatements,Taxes,andCashFlowsKeyConceptsandSkillsKnowthedifferencebetweenbookvalueandmarketvalueKnowthedifferencebetweenaccountingincomeandcashflowKnowthedifferencebetweenaverageandmarginaltaxratesKnowhowtodetermineafirm’scashflowfromitsfinan

2、cialstatements1ChapterOutlineTheBalanceSheetTheIncomeStatementTaxesCashFlow2財務報表的意義財務報表是公司內部會計制度運作所產生的結果。1檢查交易憑證並分析交易性質產生財務報表日記簿分錄過入總分類帳編制結帳後試算表結帳及調整分錄編制試算表及完成工作底稿2345673BalanceSheetThebalancesheetisasnapshotofthefirm’sassetsandliabilitiesatagivenpoin

3、tintimeAssetsarelistedinorderofliquidityEaseofconversiontocashWithoutsignificantlossofvalueBalanceSheetIdentityAssets=Liabilities+Stockholders’Equity4TheBalanceSheet-Figure2.15NetWorkingCapitalandLiquidityNetWorkingCapitalCurrentAssets–CurrentLiabilit

4、iesPositivewhenthecashthatwillbereceivedoverthenext12monthsexceedsthecashthatwillbepaidoutUsuallypositiveinahealthyfirmLiquidityAbilitytoconverttocashquicklywithoutasignificantlossinvalueLiquidfirmsarelesslikelytoexperiencefinancialdistressButliquidas

5、setsearnalowerreturnTrade-offtofindbalancebetweenliquidandilliquidassets6USCorporationBalanceSheet–Table2.17MarketVs.BookValueThebalancesheetprovidesthebookvalueoftheassets,liabilitiesandequity.Marketvalueisthepriceatwhichtheassets,liabilitiesorequity

6、canactuallybeboughtorsold.Marketvalueandbookvalueareoftenverydifferent.Why?Whichismoreimportanttothedecision-makingprocess?8Example2.2KlingonCorporationKLINGONCORPORATIONBalanceSheetsMarketValueversusBookValueBookMarketBookMarketAssetsLiabilitiesandSh

7、areholders’EquityNWC$400$600LTD$500$500NFA7001,000SE6001,1001,1001,6001,1001,6009IncomeStatementTheincomestatementismorelikeavideoofthefirm’soperationsforaspecifiedperiodoftime.YougenerallyreportrevenuesfirstandthendeductanyexpensesfortheperiodMatchin

8、gprinciple–GAAPsaytoshowrevenuewhenitaccruesandmatchtheexpensesrequiredtogeneratetherevenue10USCorporationIncomeStatement–Table2.211WorktheWebExamplePubliclytradedcompaniesmustfileregularreportswiththeSecuritiesandExchangeCommissionThesereport