毕业外文翻译 财务报表分析与运用.doc

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1、TheanalysisanduseoffinancialstatementChapter1FRAMEWORKFORFINANCIALSTATEMENTANALYSISNEEDFORFINANCIALSTATEMENTANALYSISTheUnitedSateshasthemostcomplexfinancialreportingsystemintheword..Detailedac-countingprinciplesareaugmentedbyextensivedisclosurerequirements.Thefinancialstate-ment

2、soflargemultinationalsadduptodozensofpages,andmanyofthesefirmsvoluntarilypublishadditional“factbooks”fordisseminationtofinancialanalysisandotherinterestedusers.Financialreportinginothermajordevelopedcountriesandmanyemergingmarketshasalsoevolvedsubstantiallyinrecentyears.withanin

3、creasingemphasisonprovidinginformationusefultobothdomesticandforeigncreditorsandequityinvestors.InternationalAccountingStandardshavebecomeacrediblerivaltoU.S.standards.Inanidealword,theuseroffinancialstatementscouldfocusonlyonthebottomlinesfinancialreporting:netincomeandstockhol

4、ders’equity.Iffinancialstatementswerecomparableamongcompanies(regardlessofcountry),consistentovertime,andalwaysfullyreflectingtheeconomicpositionoffirm,financialstatementanalysiswouldbesimple,andthistextaveryshortone.Thefinancialreportingsystemisnotperfect.Economiceventsandaccou

5、ntingentriesdonotcorrespondprecisely;theydivergeacrossthedimensionsoftiming,recognition,andmeasurement.Financialanalysisandinvestmentdecisionsarefurthercomplicatedbyvariationsinaccountingtreatmentamongcountriesineachofthesedimensions.Economiceventsandaccountingrecognitionofthose

6、eventsfrequentlytakeplaceatdifferenttimes.Oneexampleofphenomenonistherecognitionofcapitalgainsandlossesonlyuponsaleinmostcases.Appreciationofarealestateinvestment,whichtookplaceoveraperiodofmanyyears,forexample,receivesincomestatementrecognitiononlyintheperiodmanagementchoosesfo

7、ritsdisposal.Similarly,long-livedassetsarewrittendown.Mostoftime.Inthefiscalperiodofmanagement’schoice.Theperiodofrecognitionmaybeneithertheperiodinwhichtheimpairmenttookplacenortheperiodofsaleordisposal.Accountingfordiscontinuedoperations.Inthesamemanner.Resultsinrecognitionofl

8、ossinaperioddifferentfromwhenthelossoccurredort