Balance Sheet Investments andFinancing资产负债表：投资和 融资

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1、BalanceSheet:InvestmentsandFinancing15.511CorporateAccountingSummer2004ProfessorSPKothariSloanSchoolofManagementMassachusettsInstituteofTechnologyJune8,20041Questionsfromlastclass¢DoprivatecompaniesfilewiththeSEC?¢Onlyiftheyhavepublicdebtoutstanding.2FinancialStatements–theAnnualReport¢Managemen

2、tDiscussion¢Auditor’sReport¢ConsolidatedBalanceSheet¢ConsolidatedNetIncome¢ConsolidatedStatementofStockholdersEquity¢ConsolidatedCashFlowStatements¢NotestoAccounts3BalanceSheet:Assets¢Assets¢Probablefutureeconomicbenefitsobtainedorcontrolledbyaparticularentityasaresultofpasttransactionsorevents.

3、¢Thespecifictypesofassetsafirmownsdependsonthenatureofitsbusiness--manufacturing(e.g.,GeneralMotors)vs.merchandising(e.g.,Kmart)vs.financial(e.g.,Citicorp)vs.service(e.g.,H&RBlock)business.4BalanceSheet:Assets¢Currentassets¢Cashandotherassetsthatarereasonablyexpectedtoberealizedincashorconsumedd

4、uringthenormaloperatingcycleofthebusinessorwithinoneyear,whicheverislongerwhicheverislonger.¢Cashandcashequivalents¢Short-terminvestments--atmarketvalue--Wewilldiscussthisindetaillater.¢Accountsreceivable--Netrealizablevalue¢Inventory--LowerofHistoricalCostorMarketValue(currentreplacementcost)¢P

5、repaidexpenses5TheOperatingCycle¢Definition:anoperatingcycleisdefinedastheelapsedtimebetweenthestartofproductionandtheeventualreceiptcashfromcustomersfromthesaleoftheproductCashCashsalepaymentcollection%(&(('(%(&(('(InventoryAccts.Rec.(Rawmaterialtofinishedgoods)Operatingcycle6BalanceSheet:Asset

6、s¢Long-TermInvestments¢Investmentsintendedtobeheldforaperiodoftimeusuallyextendingbeyondoneyear.¢Debtandequitysecuritiessuchasstocks,bonds,andlong-termnotesreceivable.¢Tangibleassetsnotcurrentlyusedinoperations,e.g.,landheldforinvestmentpurposes.7BalanceSheet:Assets¢Property,Plant,andEquipment¢A

7、ssetsofadurablenaturethataretobeusedintheproductionorsaleofgoods,orrenderingofservices,ratherthanbeingheldforsale.¢Machinery,FactoryBuilding,etc.¢CarriedatCost(-)AccumulatedDepreciation¢Landonwhichthecompanyconductsitsoperat