《西方财务会计》课件

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1、Chapter2BasicFinancialStatementsIntroductiontoFinancialStatementsIncomeStatementBalanceSheetStatementofCashFlowsThreeprimaryfinancialstatements.Wewilluseacorporationtodescribethesestatements.IntroductiontoFinancialStatementsDescribeswheretheenterprisestandsataspecificdate.IncomeStatementBalance

2、SheetStatementofCashFlowsIntroductiontoFinancialStatementsDepictstherevenueandexpensesforadesignatedperiodoftime.IncomeStatementBalanceSheetStatementofCashFlowsIntroductiontoFinancialStatementsDepictsthewayscashhaschangedduringadesignatedperiodoftime.IncomeStatementBalanceSheetStatementofCashFl

3、owsAStartingPoint:StatementofFinancialPositionHeading(p39)Body(p39)AssetsAssetsareeconomicresourcesthatareownedbythebusinessandareexpectedtobenefitfutureoperations.AssetsResourcesAssetsGeneratePositiveCashFlows(CashInflows)Directlyconvertedintocash(collectionofreceivables)Indirectly–usedinoperati

4、ngthebusinesstocreateotherassetsthatresultinpositivecashflows(usedtoproducetheproductsforsale)Tangible(havephysicalexistence)Intangible(likeintheformofvaluablerights)Asummaryofp40AssetsCostPrincipleGoing-ConcernAssumptionObjectivityPrincipleStable-DollarAssumptionTheseaccountingprinciplessupportc

5、ostasthebasisforassetvaluation.LiabilitiesLiabilitiesaredebtsthatrepresentnegativefuturecashflowsfortheenterprise.Owners’EquityOwners’equityrepresentstheowners’claimsontheassetsofthebusiness.Owners’EquityChangesinOwners’EquityOwners’InvestmentsBusinessEarningsPaymentstoOwnersBusinessLossesTheAcco

6、untingEquationTheaccountingequationdisplaysthatallassetsareeitherfinancedbyborrowingmoneyorpayingwiththemoneyofthecompany’sstockholders.Assets=Liabilities+Owners’EquityWhatthingsthebusinessownsWhosuppliedtheseresourcestothebusinessandhowmucheachgroupsuppliedTheAccountingEquationAssets=Liabilities

7、+Owners’Equity$300,000=$80,000+$220,000P41YourTurnWouldtherebeanydifferentmotivationwhenyoureportthevalueofyourhometothecityassessor,whencomparingwithwhenreportingtothepotentialbuyers?OvernightAutoServicep44Businessent