Effectively Presenting Financial StatementsAn Introduction to the Basics
国际会计准则2007英文版BV16_IFRS08
IFRS 8 International Financial Reporting Standard 8Operating SegmentsIAS 14 Segment Reporting was issued by the International Accounting Standards Committee in August 1997. It replaced IAS 14 Reporting Financial Information by S egment (issued in August 1981 and reformatted in 1994).In April 2001 the International Accounting Standards Board (IASB) resolved that all Standards and Interpretations issued under previous Constitutions continued to be applicable unless and until they were amended or withdrawn.IAS 14 was subsequently amended by the following pronouncements:•IAS2Inventories (issued December 2003)•IAS8Accounting Policies, Changes in Estimates and Errors (issued December 2003)•IAS16Property, Plant and Equipment (issued December 2003)•IFRS3Business Combinations (issued March 2004)•IFRS5Non-current Assets Held for Sale and Discontinued Operations (issued March 2004)•IFRS7Financial Instruments: Disclosures (issued August 2005).In November 2006 the IASB issued IFRS 8 Operating Segments, which replaced IAS 14.© IASCF713IFRS 8714© IASCF C ONTENTSparagraphs INTRODUCTIONIN1–IN18INTERNATIONAL FINANCIAL REPORTING STANDARD 8OPERATING SEGMENTSCORE PRINCIPLE1SCOPE2–4OPERATING SEGMENTS5–10REPORTABLE SEGMENTS11–19Aggregation criteria12Quantitative thresholds13–19DISCLOSURE20–24General information22Information about profit or loss, assets and liabilities23–24MEASUREMENT25–30Reconciliations28Restatement of previously reported information29–30ENTITY-WIDE DISCLOSURES31–34Information about products and services32Information about geographical areas33Information about major customers34TRANSITION AND EFFECTIVE DATE35–36WITHDRAWAL OF IAS 1437APPENDICESA Defined termB Amendments to other IFRSsAPPROVAL OF IFRS 8 BY THE BOARDBASIS FOR CONCLUSIONSIMPLEMENTATION GUIDANCEIFRS 8 International Financial Reporting Standard 8 Operating S egments (IFRS 8) is set out in paragraphs 1–37 and Appendices A and B. All the paragraphs have equal authority. Paragraphs in bold type state the main principles. Definitions of terms are given in the Glossary for International Financial Reporting Standards. IFRS 8 should be read in the context of its core principle and the Basis for Conclusions, the Preface to International Financial Reporting S tandards and the Framework for the Preparation and Presentation of Financial S tatements. IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors provides a basis for selecting and applying accounting policies in the absence of explicit guidance.© IASCF715IFRS 8IntroductionReasons for issuing the IFRSIN1International Financial Reporting Standard 8 Operating egments sets out requirements for disclosure of information about an entity’s operating segments and also about the entity’s products and services, the geographical areas in which it operates, and its major customers.IN2Achieving convergence of accounting standards around the world is one of the prime objectives of the International Accounting Standards Board. In pursuit of that objective, the Board and the Financial Accounting Standards Board (FASB) in the United States have undertaken a joint short-term project with the objective of reducing differences between International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (US GAAP) that are capable of resolution in a relatively short time and can be addressed outside major projects.One aspect of that project involves the two boards considering each other’s recent standards with a view to adopting high quality financial reporting solutions.The IFRS arises from the IASB’s consideration of FASB Statement No.131 Disclosures about S egments of an Enterprise and Related Information (SFAS 131) issued in 1997, compared with IAS 14 S egment Reporting, which was issued in substantially its present form by the IASB’s predecessor body, the International Accounting Standards Committee, in 1997.IN3The IFRS achieves convergence with the requirements of SFAS 131, except for minor differences listed in paragraph BC60 of the Basis for Conclusions.The wording of the IFRS is the same as that of SFAS 131 except for changes necessary to make the terminology consistent with that in other IFRSs.Main features of the IFRSIN4The IFRS specifies how an entity should report information about its operating segments in annual financial statements and, as a consequential amendment to IAS 34 Interim Financial Reporting, requires an entity to report selected information about its operating segments in interim financial reports. It also sets out requirements for related disclosures about products and services, geographical areas and major customers.IN5The IFRS requires an entity to report financial and descriptive information about its reportable segments. Reportable segments are operating segments or aggregations of operating segments that meet specified criteria. Operating segments are components of an entity about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Generally, financial information is required to be reported on the same basis as is used internally for evaluating operating segment performance and deciding how to allocate resources to operating segments.716© IASCFIFRS 8 IN6The IFRS requires an entity to report a measure of operating segment profit or loss and of segment assets. It also requires an entity to report a measure of segment liabilities and particular income and expense items if such measures are regularly provided to the chief operating decision maker. It requires reconciliations of total reportable segment revenues, total profit or loss, total assets, liabilities and other amounts disclosed for reportable segments to corresponding amounts in the entity’s financial statements.IN7The IFRS requires an entity to report information about the revenues derived from its products or services (or groups of similar products and services), about the countries in which it earns revenues and holds assets, and about major customers, regardless of whether that information is used by management in making operating decisions. However, the IFRS does not require an entity to report information that is not prepared for internal use if the necessary information is not available and the cost to develop it would be excessive.IN8The IFRS also requires an entity to give descriptive information about the way the operating segments were determined, the products and services provided by the segments, differences between the measurements used in reporting segment information and those used in the entity’s financial statements, and changes in the measurement of segment amounts from period to period.IN9An entity shall apply this IFRS for annual periods beginning on or after 1 January 2009. Earlier application is permitted. If an entity applies this IFRS for an earlier period, it shall disclose that fact.Changes from previous requirementsIN10The IFRS replaces IAS 14 S egment Reporting. The main changes from IAS 14 are described below.Identification of segmentsIN11The requirements of the IFRS are based on the information about the components of the entity that management uses to make decisions about operating matters.The IFRS requires identification of operating segments on the basis of internal reports that are regularly reviewed by the entity’s chief operating decision maker in order to allocate resources to the segment and assess its performance. IAS 14 required identification of two sets of segments—one based on related products and services, and the other on geographical areas. IAS 14 regarded one set as primary segments and the other as secondary segments.IN12 A component of an entity that sells primarily or exclusively to other operating segments of the entity is included in the IFRS’s definition of an operating segment if the entity is managed that way. IAS 14 limited reportable segments to those that earn a majority of their revenue from sales to external customers and therefore did not require the different stages of vertically integrated operations to be identified as separate segments.© IASCF717IFRS 8Measurement of segment informationIN13The IFRS requires the amount reported for each operating segment item to be the measure reported to the chief operating decision maker for the purposes of allocating resources to the segment and assessing its performance. IAS 14 required segment information to be prepared in conformity with the accounting policies adopted for preparing and presenting the financial statements of the consolidated group or entity.IN14IAS 14 defined segment revenue, segment expense, segment result, segment assets and segment liabilities. The IFRS does not define these terms, but requires an explanation of how segment profit or loss, segment assets and segment liabilities are measured for each reportable segment.DisclosureIN15The IFRS requires an entity to disclose the following information:(a)factors used to identify the entity’s operating segments, including the basisof organisation (for example, whether management organises the entityaround differences in products and services, geographical areas, regulatoryenvironments, or a combination of factors and whether segments havebeen aggregated), and(b)types of products and services from which each reportable segment derivesits revenues.IN16IAS 14 required the entity to disclose specified items of information about its primary segments. The IFRS requires an entity to disclose specified amounts about each reportable segment, if the specified amounts are included in the measure of segment profit or loss and are reviewed by or otherwise regularly provided to the chief operating decision maker.IN17The IFRS requires an entity to report interest revenue separately from interest expense for each reportable segment unless a majority of the segment’s revenues are from interest and the chief operating decision maker relies primarily on net interest revenue to assess the performance of the segment and to make decisions about resources to be allocated to the segment. IAS 14 did not require disclosure of interest income and expense.IN18The IFRS requires an entity, including an entity with a single reportable segment, to disclose information for the entity as a whole about its products and services, geographical areas, and major customers. This requirement applies, regardless of the entity’s organisation, if the information is not included as part of the disclosures about segments. IAS 14 required the disclosure of secondary segment information for either industry or geographical segments, to supplement the information given for the primary segments.718© IASCFIFRS 8 International Financial Reporting Standard 8Operating SegmentsCore principle1An entity shall disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates.Scope2This IFRS shall apply to:(a)the separate or individual financial statements of an entity:(i)whose debt or equity instruments are traded in a public market(a domestic or foreign stock exchange or an over-the-counter market,including local and regional markets), or(ii)that files, or is in the process of filing, its financial statements with a securities commission or other regulatory organisation for thepurpose of issuing any class of instruments in a public market; and(b)the consolidated financial statements of a group with a parent:(i)whose debt or equity instruments are traded in a public market(a domestic or foreign stock exchange or an over-the-counter market,including local and regional markets), or(ii)that files, or is in the process of filing, the consolidated financial statements with a securities commission or other regulatoryorganisation for the purpose of issuing any class of instruments in apublic market.3If an entity that is not required to apply this IFRS chooses to disclose information about segments that does not comply with this IFRS, it shall not describe the information as segment information.4If a financial report contains both the consolidated financial statements of a parent that is within the scope of this IFRS as well as the parent’s separate financial statements, segment information is required only in the consolidated financial statements.Operating segments5An operating segment is a component of an entity:(a)that engages in business activities from which it may earn revenues andincur expenses (including revenues and expenses relating to transactionswith other components of the same entity),© IASCF719IFRS 8(b)whose operating results are regularly reviewed by the entity’s chiefoperating decision maker to make decisions about resources to be allocatedto the segment and assess its performance, and(c)for which discrete financial information is available.An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.6Not every part of an entity is necessarily an operating segment or part of an operating segment. For example, a corporate headquarters or some functional departments may not earn revenues or may earn revenues that are only incidental to the activities of the entity and would not be operating segments.For the purposes of this IFRS, an entity’s post-employment benefit plans are not operating segments.7The term ‘chief operating decision maker’ identifies a function, not necessarily a manager with a specific title. That function is to allocate resources to and assess the performance of the operating segments of an entity. Often the chief operating decision maker of an entity is its chief executive officer or chief operating officer but, for example, it may be a group of executive directors or others.8For many entities, the three characteristics of operating segments described in paragraph 5 clearly identify its operating segments. However, an entity may produce reports in which its business activities are presented in a variety of ways.If the chief operating decision maker uses more than one set of segment information, other factors may identify a single set of components as constituting an entity’s operating segments, including the nature of the business activities of each component, the existence of managers responsible for them, and information presented to the board of directors.9Generally, an operating segment has a segment manager who is directly accountable to and maintains regular contact with the chief operating decision maker to discuss operating activities, financial results, forecasts, or plans for the segment. The term ‘segment manager’ identifies a function, not necessarily a manager with a specific title. The chief operating decision maker also may be the segment manager for some operating segments. A single manager may be the segment manager for more than one operating segment. If the characteristics in paragraph 5 apply to more than one set of components of an organisation but there is only one set for which segment managers are held responsible, that set of components constitutes the operating segments.10The characteristics in paragraph 5 may apply to two or more overlapping sets of components for which managers are held responsible. That structure is sometimes referred to as a matrix form of organisation. For example, in some entities, some managers are responsible for different product and service lines worldwide, whereas other managers are responsible for specific geographical areas. The chief operating decision maker regularly reviews the operating results of both sets of components, and financial information is available for both.In that situation, the entity shall determine which set of components constitutes the operating segments by reference to the core principle.720© IASCFIFRS 8 Reportable segments11An entity shall report separately information about each operating segment that:(a)has been identified in accordance with paragraphs 5–10 or results fromaggregating two or more of those segments in accordance withparagraph12, and(b)exceeds the quantitative thresholds in paragraph 13.Paragraphs 14–19 specify other situations in which separate information about an operating segment shall be reported.Aggregation criteria12Operating segments often exhibit similar long-term financial performance if they have similar economic characteristics. For example, similar long-term average gross margins for two operating segments would be expected if their economic characteristics were similar. Two or more operating segments may be aggregated into a single operating segment if aggregation is consistent with the core principle of this IFRS, the segments have similar economic characteristics, and the segments are similar in each of the following respects:(a)the nature of the products and services;(b)the nature of the production processes;(c)the type or class of customer for their products and services;(d)the methods used to distribute their products or provide their services; and(e)if applicable, the nature of the regulatory environment, for example,banking, insurance or public utilities.Quantitative thresholds13An entity shall report separately information about an operating segment that meets any of the following quantitative thresholds:(a)Its reported revenue, including both sales to external customers andintersegment sales or transfers, is 10 per cent or more of the combinedrevenue, internal and external, of all operating segments.(b)The absolute amount of its reported profit or loss is 10 per cent or more ofthe greater, in absolute amount, of (i) the combined reported profit of alloperating segments that did not report a loss and (ii) the combinedreported loss of all operating segments that reported a loss.(c)Its assets are 10 per cent or more of the combined assets of all operatingsegments.Operating segments that do not meet any of the quantitative thresholds may be considered reportable, and separately disclosed, if management believes that information about the segment would be useful to users of the financial statements.© IASCF721IFRS 814An entity may combine information about operating segments that do not meet the quantitative thresholds with information about other operating segments that do not meet the quantitative thresholds to produce a reportable segment only if the operating segments have similar economic characteristics and share a majority of the aggregation criteria listed in paragraph 12.15If the total external revenue reported by operating segments constitutes less than75 per cent of the entity’s revenue, additional operating segments shall beidentified as reportable segments (even if they do not meet the criteria in paragraph 13) until at least 75 per cent of the entity’s revenue is included in reportable segments.16Information about other business activities and operating segments that are not reportable shall be combined and disclosed in an ‘all other segments’ category separately from other reconciling items in the reconciliations required by paragraph 28. The sources of the revenue included in the ‘all other segments’category shall be described.17If management judges that an operating segment identified as a reportable segment in the immediately preceding period is of continuing significance, information about that segment shall continue to be reported separately in the current period even if it no longer meets the criteria for reportability in paragraph 13.18If an operating segment is identified as a reportable segment in the current period in accordance with the quantitative thresholds, segment data for a prior period presented for comparative purposes shall be restated to reflect the newly reportable segment as a separate segment, even if that segment did not satisfy the criteria for reportability in paragraph 13 in the prior period, unless the necessary information is not available and the cost to develop it would be excessive.19There may be a practical limit to the number of reportable segments that an entity separately discloses beyond which segment information may become too detailed. Although no precise limit has been determined, as the number of segments that are reportable in accordance with paragraphs 13–18 increases above ten, the entity should consider whether a practical limit has been reached. Disclosure20An entity shall disclose information to enable users of its financial statements to evaluate the nature and financial effects of the business activities in which it engages and the economic environments in which it operates.21To give effect to the principle in paragraph 20, an entity shall disclose the following for each period for which an income statement is presented:(a)general information as described in paragraph 22;(b)information about reported segment profit or loss, including specifiedrevenues and expenses included in reported segment profit or loss,segment assets, segment liabilities and the basis of measurement, asdescribed in paragraphs 23–27; and722© IASCFIFRS 8(c)reconciliations of the totals of segment revenues, reported segment profitor loss, segment assets, segment liabilities and other material segmentitems to corresponding entity amounts as described in paragraph 28.Reconciliations of balance sheet amounts for reportable segments to the entity’s balance sheet amounts are required for each date at which a balance sheet is presented. Information for prior periods shall be restated as described in paragraphs 29 and 30.General information22An entity shall disclose the following general information:(a)factors used to identify the entity’s reportable segments, including thebasis of organisation (for example, whether management has chosen toorganise the entity around differences in products and services,geographical areas, regulatory environments, or a combination of factorsand whether operating segments have been aggregated), and(b)types of products and services from which each reportable segment derivesits revenues.Information about profit or loss, assets and liabilities23An entity shall report a measure of profit or loss and total assets for each reportable segment. An entity shall report a measure of liabilities for each reportable segment if such an amount is regularly provided to the chief operating decision maker. An entity shall also disclose the following about each reportable segment if the specified amounts are included in the measure of segment profit or loss reviewed by the chief operating decision maker, or are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss:(a)revenues from external customers;(b)revenues from transactions with other operating segments of the sameentity;(c)interest revenue;(d)interest expense;(e)depreciation and amortisation;(f)material items of income and expense disclosed in accordance withparagraph 86 of IAS 1 Presentation of Financial Statements;(g)the entity’s interest in the profit or loss of associates and joint venturesaccounted for by the equity method;(h)income tax expense or income; and(i)material non-cash items other than depreciation and amortisation.© IASCF723IFRS 8An entity shall report interest revenue separately from interest expense for each reportable segment unless a majority of the segment’s revenues are from interest and the chief operating decision maker relies primarily on net interest revenue to assess the performance of the segment and make decisions about resources to be allocated to the segment. In that situation, an entity may report that segment’s interest revenue net of its interest expense and disclose that it has done so.24An entity shall disclose the following about each reportable segment if the specified amounts are included in the measure of segment assets reviewed by the chief operating decision maker or are otherwise regularly provided to the chief operating decision maker, even if not included in the measure of segment assets:(a)the amount of investment in associates and joint ventures accounted for bythe equity method, and(b)the amounts of additions to non-current assets* other than financialinstruments, deferred tax assets, post-employment benefit assets (see IAS 19Employee Benefits paragraphs 54–58) and rights arising under insurancecontracts.Measurement25The amount of each segment item reported shall be the measure reported to the chief operating decision maker for the purposes of making decisions about allocating resources to the segment and assessing its performance. Adjustments and eliminations made in preparing an entity’s financial statements and allocations of revenues, expenses, and gains or losses shall be included in determining reported segment profit or loss only if they are included in the measure of the segment’s profit or loss that is used by the chief operating decision maker. Similarly, only those assets and liabilities that are included in the measures of the segment’s assets and segment’s liabilities that are used by the chief operating decision maker shall be reported for that segment. If amounts are allocated to reported segment profit or loss, assets or liabilities, those amounts shall be allocated on a reasonable basis.26If the chief operating decision maker uses only one measure of an operating segment’s profit or loss, the segment’s assets or the segment’s liabilities in assessing segment performance and deciding how to allocate resources, segment profit or loss, assets and liabilities shall be reported at those measures. If the chief operating decision maker uses more than one measure of an operating segment’s profit or loss, the segment’s assets or the segment’s liabilities, the reported measures shall be those that management believes are determined in accordance with the measurement principles most consistent with those used in measuring the corresponding amounts in the entity’s financial statements.27An entity shall provide an explanation of the measurements of segment profit or loss, segment assets and segment liabilities for each reportable segment. At a minimum, an entity shall disclose the following:*For assets classified according to a liquidity presentation, non-current assets are assets that include amounts expected to be recovered more than twelve months after the balance sheet date. 724© IASCFIFRS 8(a)the basis of accounting for any transactions between reportable segments.(b)the nature of any differences between the measurements of the reportablesegments’ profits or losses and the entity’s profit or loss before income taxexpense or income and discontinued operations (if not apparent from thereconciliations described in paragraph 28). Those differences could includeaccounting policies and policies for allocation of centrally incurred coststhat are necessary for an understanding of the reported segmentinformation.(c)the nature of any differences between the measurements of the reportablesegments’ assets and the entity’s assets (if not apparent from thereconciliations described in paragraph 28). Those differences could includeaccounting policies and policies for allocation of jointly used assets that arenecessary for an understanding of the reported segment information.(d)the nature of any differences between the measurements of the reportablesegments’ liabilities and the entity’s liabilities (if not apparent from thereconciliations described in paragraph 28). Those differences could includeaccounting policies and policies for allocation of jointly utilised liabilitiesthat are necessary for an understanding of the reported segmentinformation.(e)the nature of any changes from prior periods in the measurement methodsused to determine reported segment profit or loss and the effect, if any, ofthose changes on the measure of segment profit or loss.(f)the nature and effect of any asymmetrical allocations to reportablesegments. For example, an entity might allocate depreciation expense to asegment without allocating the related depreciable assets to that segment.Reconciliations28An entity shall provide reconciliations of all of the following:(a)the total of the reportable segments’ revenues to the entity’s revenue.(b)the total of the reportable segments’ measures of profit or loss to theentity’s profit or loss before tax expense (tax income) and discontinuedoperations. However, if an entity allocates to reportable segments itemssuch as tax expense (tax income), the entity may reconcile the total of thesegments’ measures of profit or loss to the entity’s profit or loss after thoseitems.(c)the total of the reportable segments’ assets to the entity’s assets.(d)the total of the reportable segments’ liabilities to the entity’s liabilities ifsegment liabilities are reported in accordance with paragraph 23.(e)the total of the reportable segments’ amounts for every other material itemof information disclosed to the corresponding amount for the entity.© IASCF725。
财务管理工作实践英文
Introduction:Financial management is a critical aspect of any organization, ensuring the efficient allocation and utilization of resources. Effective financial management practices are essential for the success and sustainability of businesses. This article aims to provide a comprehensive overview of financial management practices, highlighting key principles and strategies employed in real-world scenarios.I. Introduction to Financial ManagementFinancial management involves planning, organizing, directing, and controlling the financial resources of an organization. It is crucialfor businesses to maintain a healthy financial status, as it enables them to achieve their objectives and sustain growth. Financial management practices are designed to optimize financial performance, minimize risks, and ensure compliance with regulatory requirements.II. Key Financial Management PracticesA. BudgetingBudgeting is the process of planning and allocating financial resources for various activities within an organization. It involves setting financial goals, estimating revenues and expenses, and preparing a detailed plan to achieve those goals. Effective budgeting practices help organizations in monitoring financial performance, controlling costs, and making informed decisions.1. Revenue Budget: Estimating the expected income from sales, services, and other sources.2. Expenditure Budget: Planning and allocating funds for various expenses, such as salaries, utilities, and capital investments.3. Cash Budget: Forecasting the inflow and outflow of cash to ensure adequate liquidity.B. Financial ReportingFinancial reporting is the process of preparing and presenting financial statements that provide a clear and accurate picture of anorganization's financial performance. Key financial statements include the balance sheet, income statement, and cash flow statement.1. Balance Sheet: Provides a snapshot of an organization's financial position at a specific point in time, showing assets, liabilities, and equity.2. Income Statement: Summarizes an organization's revenues, expenses, and net income over a specific period.3. Cash Flow Statement: Details the cash inflows and outflows during a specific period, providing insights into an organization's liquidity.C. Financial AnalysisFinancial analysis involves interpreting financial data to assess an organization's financial performance and health. It helps in identifying strengths, weaknesses, and areas requiring improvement. Key financial ratios used in analysis include liquidity ratios, profitability ratios, and solvency ratios.1. Liquidity Ratios: Assess an organization's ability to meet short-term obligations, such as the current ratio and quick ratio.2. Profitability Ratios: Evaluate an organization's profitability, such as net profit margin and return on assets (ROA).3. Solvency Ratios: Determine an organization's long-term financial stability, such as debt-to-equity ratio and interest coverage ratio.D. Risk ManagementRisk management involves identifying, assessing, and mitigating risks that could impact an organization's financial performance. Effectiverisk management practices help organizations in minimizing potential losses and ensuring continuity of operations.1. Identifying Risks: Identifying potential risks, such as credit risk, market risk, and operational risk.2. Assessing Risks: Evaluating the likelihood and impact of risks on the organization.3. Mitigating Risks: Implementing strategies to reduce or eliminate risks, such as diversification, insurance, and contingency planning.E. Investment ManagementInvestment management involves making strategic decisions regarding the allocation of funds to different investment avenues, such as stocks, bonds, and real estate. Effective investment management practices help organizations in achieving their financial objectives and maximizing returns.1. Asset Allocation: Determining the appropriate mix of assets based on risk tolerance and investment objectives.2. Performance Monitoring: Regularly reviewing and adjusting the investment portfolio to ensure alignment with investment goals.3. Diversification: Spreading investments across various asset classes to reduce risk.III. Real-World Examples of Financial Management PracticesA. Apple Inc.Apple Inc. is a prime example of effective financial management practices. The company maintains a strong focus on budgeting, financial reporting, and risk management. Apple's disciplined approach tofinancial management has enabled it to achieve consistent profitability and accumulate substantial cash reserves.B. General Electric (GE)General Electric has faced financial challenges in recent years, but the company has taken steps to improve its financial management practices. GE has focused on cost reduction, divesting non-core assets, and strengthening its balance sheet. These efforts have helped the company stabilize its financial position and regain investor confidence.IV. ConclusionFinancial management practices are essential for the success and sustainability of organizations. By implementing effective budgeting, financial reporting, financial analysis, risk management, and investment management practices, businesses can optimize their financial performance and achieve their objectives. As the business landscape continues to evolve, organizations must remain adaptable and embrace innovative financial management practices to thrive in the long run.。
关于想干会计方面的工作作文英语
关于想干会计方面的工作作文英语全文共3篇示例，供读者参考篇1Accounting is a field that has always intrigued me. The fascinating world of numbers and financial transactions has always captured my interest, and I believe that pursuing a career in accounting would not only be fulfilling but also rewarding. In this essay, I will outline why I am interested in pursuing a career in accounting and how I believe my skills and passion make me well-suited for this field.To begin with, I have always been good with numbers and have a keen eye for detail. I enjoy working with data and analyzing financial information to help businesses make informed decisions. I find solace in balancing books and ensuring that financial records are accurate and up to date. For me, there is a sense of satisfaction in solving complex accounting problems and presenting financial reports that are clear and concise.Furthermore, I believe that my strong analytical skills and logical thinking make me well-suited for a career in accounting. Ienjoy tackling challenging problems and finding creative solutions to financial issues. I am meticulous in my work and strive for perfection in everything I do. I believe that these qualities are essential for success in the accounting field, where attention to detail and accuracy are paramount.Moreover, I am a highly organized individual with excellent time management skills. I am able to prioritize tasks effectively, meet deadlines, and work efficiently under pressure. These are important qualities to have in the fast-paced world of accounting, where deadlines are tight and accuracy is crucial.In addition, I have a strong work ethic and a passion for continuous learning and self-improvement. I believe that the field of accounting is constantly evolving, and I am committed to staying up to date with the latest trends and developments in the industry. I am eager to expand my knowledge and skills through professional development opportunities and further education.Overall, I am confident that my skills, passion, and dedication make me well-suited for a career in accounting. I am excited about the prospect of pursuing a career in this field and contributing to the success of businesses through sound financial management. I believe that a career in accounting willnot only be challenging and rewarding but also offer a sense of purpose and fulfillment. I am excited to embark on this journey and see where it takes me.篇2Why I Want to Pursue a Career in AccountingAccounting has always been a subject that fascinated me. The precision, attention to detail, and logical thinking required in this field appeal to my analytical nature. From balancing budgets to preparing financial statements, each aspect of accounting intrigues me and motivates me to pursue a career in this field. In this essay, I will explain why I am passionate about becoming an accountant and how I plan to achieve this goal.First and foremost, I believe that accounting is a profession that offers excellent job prospects and opportunities for career advancement. With the growing complexity of financial regulations and the increasing emphasis on corporate transparency, the demand for skilled accountants is on the rise. As a result, I am confident that pursuing a career in accounting will provide me with long-term job security and the chance to continually expand my skills and knowledge.Furthermore, I am drawn to the problem-solving aspect of accounting. Whether it's reconciling discrepancies in financial records or analyzing complex financial data, I enjoy the challenge of finding solutions to intricate accounting problems. I believe that my strong analytical skills, attention to detail, and love of numbers make me well-suited to a career in accounting.In addition, I am inspired by the opportunity to work in a variety of industries as an accountant. From public accounting firms to corporate finance departments, accountants play a crucial role in helping businesses manage their financial affairs and make strategic decisions. I am excited by the prospect of gaining experience in different industries and learning how to apply accounting principles in diverse settings.To achieve my goal of becoming an accountant, I plan to pursue a bachelor's degree in accounting from a reputable university. I will also seek opportunities to gain practical experience through internships and part-time positions in accounting firms or finance departments. Additionally, I will pursue professional certifications such as the Certified Public Accountant (CPA) designation to enhance my credentials and demonstrate my commitment to the field.In conclusion, I am passionate about pursuing a career in accounting because of the analytical challenges it presents, the broad range of job opportunities available, and the chance to work in diverse industries. By obtaining a strong education, gaining practical experience, and obtaining professional certifications, I am confident that I can achieve my goal of becoming a successful accountant. I look forward to the opportunity to contribute my skills and knowledge to the field of accounting and make a meaningful impact on the organizations I work for.篇3As the saying goes, "money makes the world go round." It is no surprise then that the field of accounting plays a critical role in every industry and sector. For individuals who are considering a career in accounting, there are a myriad of reasons why this profession is not only necessary but also rewarding.First and foremost, a career in accounting offers a stable and consistent job market. With businesses and organizations needing to maintain accurate financial records and comply with regulations, the demand for qualified accountants isever-present. This means that individuals entering theaccounting field can feel confident in the stability of their career and the opportunities for growth and advancement.Another compelling reason to pursue a career in accounting is the potential for a competitive salary and benefits package. Accountants are highly valued for their expertise in financial management and decision-making, which makes them attractive candidates for well-paying positions. Additionally, many accounting firms and organizations offer benefits such as healthcare, retirement plans, and opportunities for professional development.In addition to the financial stability and rewards, a career in accounting also offers the opportunity to work in a variety of industries and sectors. Whether you are interested in working for a public accounting firm, a government agency, a non-profit organization, or a multinational corporation, there are countless opportunities for accountants to excel and make a difference in their chosen field.Moreover, accounting is a field that requires a high level of attention to detail, critical thinking, and problem-solving skills. Accountants must be able to analyze financial data, identify trends and patterns, and make informed recommendations based on their findings. This level of expertise and precision notonly keeps businesses running smoothly but also ensures their financial success and longevity.Furthermore, a career in accounting offers the opportunity for continuous learning and growth. The field is constantly evolving with changes in technology, regulations, and business practices, which means that accountants must stay up-to-date on the latest trends and developments. This commitment to lifelong learning and professional development can lead to new opportunities for advancement and career satisfaction.In conclusion, a career in accounting is a rewarding and fulfilling choice for individuals who are detail-oriented, analytical, and passionate about financial management. With a stable job market, competitive salaries, diverse opportunities, and the chance for continuous learning and growth, accounting offers a wealth of benefits and rewards for those who choose to pursue this profession. Whether you are a recent graduate or a seasoned professional looking for a new challenge, a career in accounting is a smart and strategic choice that can lead to a successful and satisfying future.。
会计人才作文英语模板
会计人才作文英语模板英文回答：The Role of Accounting Professionals in Today's Business Landscape。
In the intricate tapestry of modern business, accounting professionals play a pivotal role, navigating complex financial intricacies with precision and ensuring the smooth functioning of organizations. Their expertise encompasses a multifaceted array of responsibilities, ranging from financial reporting and analysis to risk management and internal controls.Financial Reporting and Analysis。
Accounting professionals are responsible for preparing and presenting financial statements that accurately depict the financial health of an organization. These statements, which include the balance sheet, income statement, and cashflow statement, provide essential information to investors, creditors, and other stakeholders. Accountants analyze financial data to identify trends, assess risks, and make recommendations to improve financial performance.Tax Compliance and Planning。
财务人员每月英文自我评价
财务人员每月英文自我评价As a financial professional, I would like to provide a self-evaluation of my performance over the past month.In terms of my technical skills, I have demonstrated a high level of proficiency in areas such as financial analysis, budgeting, and forecasting. I have successfully completed assigned tasks within the given timelines and have consistently provided accurate and reliable financial reports.Regarding my attention to detail, I have been meticulous in reviewing financial data and ensuring its accuracy. I have consistently double-checked my work to eliminate errors and maintain a high level of precision in all financial calculations.In terms of my ability to work as part of a team, I have actively participated in meetings and discussions, providing valuable insights and collaborating effectively with colleagues. I have also taken the initiative to offer support and assistance when needed, demonstrating a strong team player mindset.Additionally, I have continuously sought to improve my knowledge and skills in the financial field by attending relevant workshops, webinars, and industry conferences. I actively stay updated on new regulations, technological advancements, and best practices to better serve the organization and its financial goals.However, I also recognize areas for improvement. I could enhance my communication skills, particularly in presenting financial information to non-financial stakeholders. I am committed to working on this aspect to ensure clear and concise communication that is easily understood by all parties involved.In conclusion, I believe that I have performed well in terms of technical skills, attention to detail, teamwork, and continuous learning. I am dedicated to further honing my skills and addressing areas for improvement to excel in my role as a financial professional.。
香港会计准则02-利润表
SSAP 2STATEMENT OF STANDARD ACCOUNTING PRACTICE 2NET PROFIT OR LOSS FOR THE PERIOD,FUNDAMENTAL ERRORSAND CHANGES IN ACCOUNTING POLICIES(Revised March 1984, December 1993 and May 1999 and October 2001)The standards, which have been set in bold italic type, should be read in the context of the background material and implementation guidance and in the context of the Foreword to Statements of Standard Accounting Practice, Interpretations and Accounting Guidelines. Statements of Standard Accounting Practice are not intended to apply to immaterial items (see paragraph 8 of the Foreword). ObjectiveThe objective of this Statement is to prescribe the classification, disclosure and accounting treatment of certain items in the income statement so that all enterprises prepare and present an income statement on a consistent basis. This enhances comparability both with the enterprise's financial statements of previous periods and with the financial statements of other enterprises. Accordingly, this Statement requires the classification and disclosure of extraordinary items and the disclosure of certain items within profit or loss from ordinary activities. It also specifies the accounting treatment for changes in accounting estimates, changes in accounting policies and the correction of fundamental errors. Scope1.This Statement should be applied in presenting profit or loss from ordinary activities andextraordinary items in the income statement, and in accounting for changes in accountingestimates, fundamental errors and changes in accounting policies.2. This Statement supersedes SSAP 2 "Extraordinary items and prior period adjustments"approved in 1984 and revised in 1993.3. This Statement deals with, among other things, the disclosure of certain items of net profit orloss for the period. These disclosures are made in addition to any other disclosures required by other Accounting Standards.4. This Statement also deals with certain disclosures relating to discontinued operations. It doesnot deal with the recognition and measurement issues related to discontinued operations.Definitions5.The following terms are used in this Statement with the meanings specified:"Extraordinary items" are income or expenses that arise from events or transactions that are clearly distinct from the ordinary activities of the enterprise and therefore are not expected to recur frequently or regularly."Ordinary activities" are any activities which are undertaken by an enterprise as part of its business and such related activities in which the enterprise engages in furtherance of,incidental to, or arising from, these activities.A "discontinued operation" results from the sale or abandonment of an operation thatrepresents a separate, major line of business of an enterprise and of which the assets, netprofit or loss and activities can be distinguished physically, operationally and for financialreporting purposes."Fundamental errors" are errors discovered in the current period that are of suchsignificance as to invalidate the true and fair view of previously issued financial statements in respect of one or more prior periods."Accounting policies" are the specific principles, bases, conventions, rules and practicesadopted by an enterprise in preparing and presenting financial statements.Net profit or loss for the period6.All items of income and expense recognised in a period should be included in thedetermination of the net profit or loss for the period unless an Accounting Standard or, in the absence of a relevant Accounting Standard, the law requires or permits otherwise.7. Normally, all items of income and expense recognised in a period are included in thedetermination of the net profit or loss for the period. This includes extraordinary items and the effects of changes in accounting estimates. However, circumstances may exist when certainitems may be excluded from net profit or loss for the current period. This Statement deals with two such circumstances: the correction of fundamental errors and the effect of changes inaccounting policies.8. Other Accounting Standards deal with items which may meet the Framework definitions ofincome or expense but which are usually excluded from the determination of the net profit orloss. Examples include revaluation surpluses (see SSAP 17 "Property, plant and equipment" and SSAP 13 "Accounting for investment properties") and gains and losses arising on the translation of the financial statements of a foreign entity (see SSAP 11 "Foreign currency translation"). 9.The net profit or loss for the period comprises the following components, each of whichshould be disclosed on the face of the income statement:a.profit or loss from ordinary activities; andb.extraordinary items.Extraordinary items10.The nature and the amount of each extraordinary item should be separately disclosed.11. Virtually all items of income and expense included in the determination of net profit or loss forthe period arise in the course of the ordinary activities of the enterprise. Therefore, only on rare occasions does an event or transaction give rise to an extraordinary item12. Whether an event or transaction is clearly distinct from the ordinary activities of the enterpriseis determined by the nature of the event or transaction in relation to the business ordinarilycarried on by the enterprise rather than by the frequency with which such events are expected to occur. Therefore, an event or transaction may be extraordinary for one enterprise but notextraordinary for another enterprise because of the differences between their respective ordinary activities. For example, losses sustained as a result of an earthquake may qualify as anextraordinary item for many enterprises. However, claims from policyholders arising from an earthquake do not qualify as an extraordinary item for an insurance enterprise that insuresagainst such risks.13. Examples of events or transactions that generally give rise to extraordinary items for mostenterprises are:a. the expropriation of asset; orb. an earthquake or other natural disaster.14. The disclosure of the nature and amount of each extraordinary item may be made on the face ofthe income statement, or when this disclosure is made in the notes to the financial statements, the total amount of all extraordinary items is disclosed on the face of the income statement. The extraordinary items may be presented net of related taxation and minority interests with thegross amount of each shown in the notes to the financial statements.Profit or loss from ordinary activities15.When items of income and expense within profit or loss from ordinary activities are of suchsize, nature or incidence that their disclosure is relevant to explain the performance of theenterprise for the period, the nature and amount of such items should be disclosed separately.16. Although the items of income and expense described in paragraph 15 are not extraordinaryitems, the nature and amount of such items may be relevant to users of financial statements in understanding the financial position and performance of an enterprise and in making projections about financial position and performance. Disclosure of such information is usually made in the notes to the financial statements.17. Circumstances which may give rise to the separate disclosure of items of income and expense inaccordance with paragraph 15 include:a. the write-down of inventories to net realisable value or property, plant and equipment torecoverable amount, as well as the reversal of such write-downs;b. a restructuring of the activities of an enterprise and the reversal of any provisions for thecosts of restructuring;c. disposals of items of property, plant and equipment;d. disposals of long-term investments;e. discontinuedoperations;fe. litigation settlements; andgf. other reversals of provisions.Discontinued operations18. While the disposal of investments or other major assets may be sufficiently important to warrantdisclosure of the related items of income or expense, occasionally an enterprise sells orabandons a separate, major line of business which is distinguishable from other businessactivities. When this constitutes a discontinued operation as defined in this Statement, thedisclosures contained in paragraph 19 are relevant to users of financial statements.19.The following disclosures should be made for each discontinued operation:a.the nature of the discontinued operation;b.the industry and geographical segments in which it is reported (if applicable);c.the effective date of discontinuance for accounting purposes;d.the manner of discontinuance (sale or abandonment);e.the gain or loss on discontinuance and the accounting policy used to measure thatgain or loss; andf.the revenue and profit or loss from ordinary activities of the operation for the period,together with the corresponding amounts for each prior period presented.20. The results of a discontinued operation are generally included in profit or loss from ordinaryactivities. However, in the rare circumstances that the discontinuance is the result of events or transactions that are clearly distinct from the ordinary activities of the enterprise and therefore are not expected to recur frequently or regularly, the income or expenses that arise from thediscontinuance are treated as extraordinary items. For example, if a subsidiary is expropriated by a foreign government, the income or expense that arise from the expropriation may qualify as an extraordinary item. The disclosure requirements in paragraph 19 are applied for alldiscontinued operations including those that give rise to extraordinary items.21. When it is known at the date on which the financial statements are authorised for issue that anoperation was discontinued after the balance sheet date or that it will be discontinued, thedisclosure requirements of paragraph 19 are applied to the extent that the information can bereliably estimated. The accounting and disclosure of such post balance sheet events are alsospecified in SSAP 9 "Events after the balance sheet date" "Accounting for post balance sheetevents ".Changes in accounting estimates22. As a result of the uncertainties inherent in business activities, many financial statement itemscannot be measured with precision but can only be estimated. The estimation process involves judgements based on the latest information available. Estimates may be required, for example, of bad debts, inventory obsolescence or the useful lives or expected pattern of consumption of economic benefits of depreciable assets. The use of reasonable estimates is an essential part of the preparation of financial statements and does not undermine their reliability.23. An estimate may have to be revised if changes occur regarding the circumstances on which theestimate was based or as a result of new information, more experience or subsequentdevelopments. By its nature, the revision of the estimate does not bring the adjustment within the definitions of an extraordinary item or a fundamental error.24. Sometimes it is difficult to distinguish between a change in accounting policy and a change inan accounting estimate. In such cases, the change is treated as a change in an accountingestimate, with appropriate disclosure.25.The effect of a change in an accounting estimate should be included in the determination ofnet profit or loss in:a.the period of the change, if the change affects the period only; orb.the period of the change and future periods, if the change affects both.26. A change in an accounting estimate may affect the current period only or both the current periodand future periods. For example, a change in the estimate of the amount of bad debts affectsonly the current period and therefore is recognised immediately. However, a change in theestimated useful life or the expected pattern of consumption of economic benefits of adepreciable asset affects the depreciation expense in the current period and in each periodduring the remaining useful life of the asset. In both cases, the effect of the change relating to the current period is recognised as income or expense in the current period. The effect, if any, on future periods is recognised in future periods.27.The effect of a change in an accounting estimate should be included in the same incomestatement classification as was used previously for the estimate.28. To ensure the comparability of financial statements of different periods, the effect of a change inan accounting estimate for estimates which were previously included in the profit or loss from ordinary activities is included in that component of net profit or loss. The effect of a change in an accounting estimate for an estimate which was previously included as an extraordinary item is reported as an extraordinary item.29.The nature and amount of a change in an accounting estimate that has a material effect inthe current period or which is expected to have a material effect in subsequent periods should be disclosed. If it is impracticable to quantify the amount, this fact should be disclosed.Fundamental errors30. Errors in the preparation of the financial statements of one or more prior periods may bediscovered in the current period. Errors may occur as a result of mathematical mistakes,mistakes in applying accounting policies, misinterpretation of facts, fraud or oversights. Thecorrection of these errors even if material is normally included in the determination of net profit or loss for the current period.31. On rare occasions, an error has such a significant effect on the financial statements of one ormore prior periods that those financial statements can no longer be considered to have shown a true and fair view at the date of their issue. These errors are referred to as fundamental errors.An example of a fundamental error is the inclusion in the financial statements of a previousperiod of material amounts of work in progress and receivables in respect of fraudulentcontracts which cannot be enforced. The correction of fundamental errors that relate to priorperiods requires the restatement of the comparative information.32. The correction of fundamental errors can be distinguished from changes in accountingestimates. Accounting estimates by their nature are approximations that may need revision asadditional information becomes known. For example, the gain or loss recognised on theoutcome of a contingency which previously could not be estimated reliably does not constitute the correction of a fundamental error.33.The amount of the correction of a fundamental error that relates to prior periods should bereported by adjusting the opening balance of retained earnings. Comparative informationshould be restated, unless it is impracticable to do so and this fact is disclosed.34. The financial statements, including the comparative information for prior periods, are presentedas if the fundamental error had been corrected in the period in which it was made. Therefore, the amount of the correction that relates to each period presented is included within the net profit or loss for that period. The amount of the correction relating to periods prior to those included in the comparative information in the financial statements is adjusted against the opening balance of retained earnings in the earliest period presented. Any other information reported with respect to prior periods, such as historical summaries of financial data, is also restated.35. The restatement of comparative information does not necessarily give rise to the amendment offinancial statements which have been approved by shareholders or registered or filed withregulatory authorities.36.An enterprise should disclose the following for each separate fundamental error:a.the nature of the fundamental error;b.the amount of the correction for the current period and for each prior periodpresented;c.the amount of the correction relating to periods prior to those included in thecomparative information; andd.the fact that comparative information has been restated or that it is impracticable to doso.Changes in accounting policies37. Users need to be able to compare the financial statements of an enterprise over a period of timeto identify trends in its financial position, performance and cash flows. Therefore, the sameaccounting policies are normally adopted in each period.38 A change in accounting policy should be made only if required by statute, or by anAccounting Standard, or if the change will result in a more appropriate presentation of events or transactions in the financial statements of the enterprise.39. A more appropriate presentation of events or transactions in the financial statements occurswhen the new accounting policy results in more relevant or reliable information about thefinancial position, performance or cash flows of the enterprise.40. The following are not changes in accounting policies:a. the adoption of an accounting policy for events or transactions that differ in substancefrom previously occurring events or transactions; andb. the adoption of a new accounting policy for events or transactions which did not occurpreviously or that were immaterial.The initial adoption of a policy to carry property, plant or equipment at revalued amounts is a change in accounting policy but it is dealt with as a revaluation in accordance with SSAP 17"Property, plant and equipment" rather than in accordance with paragraphs 45 to 49 of thisStatement.41. A change in accounting policy is applied retrospectively or prospectively in accordance with therequirements of this Statement. Retrospective application results in the new accounting policy being applied to events and transactions as if the new accounting policy had always been in use.Therefore, the accounting policy is applied to events and transactions from the date of origin of such items. Prospective application means that the new accounting policy is applied to theevents and transactions occurring after the date of the change. No adjustments relating to prior periods are made either to the opening balance of retained earnings or in reporting the net profit or loss for the current period because existing balances are not recalculated. However, the new accounting policy is applied to existing balances as from the date of the change.Adoption of an Accounting Standard42. A change in accounting policy which is made on the adoption of an Accounting Standardshould be accounted for in accordance with the specific transitional provisions, if any, in that Accounting Standard. In the absence of any transitional provisions, the change in accounting policy should be applied in accordance with the treatment prescribed in paragraphs 45, 48and 49 of this Statement.43. The transitional provisions in an Accounting Standard may require either a retrospective or aprospective application of a change in accounting policy.44. When an enterprise has not adopted a new Accounting Standard which has been published bythe Hong Kong Society of Accountants but which has not yet come into effect, the enterprise is encouraged to disclose the nature of the future change in accounting policy and an estimate of the effect of the change on its net profit or loss and financial position.Other changes in accounting policies45. A change in accounting policy should be applied retrospectively unless the amount of anyresulting adjustment that relates to prior periods is not reasonably determinable. Anyresulting adjustment should be reported as an adjustment to the opening balance of retained earnings or reserves, as appropriate. Comparative information should be restated unless it is impracticable to do so.46. The financial statements, including the comparative information for prior periods, are presentedas if the new accounting policy had always been in use. Therefore, comparative information is restated in order to reflect the new accounting policy. The amount of the adjustment relating to periods prior to those included in the financial statements is adjusted against the openingbalance of retained earnings or reserves, as appropriate, of the earliest period presented. Anyother information with respect to prior periods, such as historical summaries of financial data, is also restated.47. The restatement of comparative information does not necessarily give rise to the amendment offinancial statements which have been approved by shareholders or registered or filed withregulatory authorities.48.The change in accounting policy should be applied prospectively when the amount of theadjustment to the opening balance of retained earnings required by paragraph 45 cannot be reasonably determined.49.When a change in accounting policy has a material effect on the current period or any priorperiod presented, or may have a material effect in subsequent periods, an enterprise should disclose the following:a.the reasons for the change;b.the amount of the adjustment for the current period and for each period presented;c.the amount of the adjustment relating to periods prior to those included in thecomparative information; andd.the fact that comparative information has been restated or that it is impracticable to doso.Effective date50.The accounting practices set out in this Statement should be regarded as standard in respectof financial statements relating to accounting periods beginning on or after 1 January 1999.Earlier adoption is encouraged but not required.Note on legal requirements in Hong Kong51. Paragraph 17(6) of the Tenth Schedule to the Companies Ordinance requires the following to bestated by way of note if not otherwise shown:"Any material respects in which any items shown in the profit and loss account are affected -a. by transactions of a sort not usually undertaken by the company or otherwise bycircumstances of an exceptional or non-recurrent nature; orb. by any change in the basis of accounting."Compliance with International Accounting Standards52. International Accounting Standard No 8 (revised 1993) "Net profit or loss for the period,fundamental errors and changes in accounting policies" allows a benchmark treatment forpresenting the correction of a fundamental error that relates to prior periods by restating thecomparative information and a benchmark treatment for presenting the change in accountingpolicy by making resulting adjustment to the opening balance of retained earnings. It alsopermits as alternative treatments the presentation of additional pro forma information for thecorrection of a fundamental error and the change in accounting policy. The respectiverequirements of this Statement accord very closely with the benchmark treatments permittedunder IAS 8.In addition, IAS 8 gives a different definition of fundamental errors as compared to therespective definition as stated in paragraph 5 of this Statement. Except for the above differences, compliance with this Statement ensures compliance in all material respects with IAS 8.AppendixThe Appendix is illustrative only and does not form part of the Statement of Standard Accounting Practice. The purpose of this Appendix is to illustrate the application of the Statement of Standard Accounting Practice to assist in clarifying its meaning. Extracts from income statements and statements of retained earnings are provided to show the effects on these financial statements of the transactions described below. These extracts do not necessarily conform with all the disclosure and presentation requirements of other Statements of Standard Accounting Practice. Extraordinary items and discontinued operationsAlpha CoExtract from the income statement20-2 $ 20-1 $Gross profit 10,000 12,000 Loss on sale of truck engine valve manufacturingoperation (Note 1)(3,000) - Taxation (2,100) (3,600) Profit from ordinary activities 4,900 8,400Extraordinary item - loss on expropriation of car enginevalve manufacturing operation in country R (Net oftaxation of $1,350)(Note 2) - (3,150)Net profit4,900======5,250====== Extracts from notes to the financial statements1. On 1 July 20-2, Alpha sold its truck engine valve manufacturing operation. The results of thisoperation had previously been reported in the valve manufacturing industry segment and thedomestic geographical segment. The loss is the difference between the proceeds from the sale of the operation and the net carrying amount of the assets and liabilities of the operation at the date of sale. The revenues recognised relating to this operation from 1 January 20-2 until 1 July 20-2 were $15,000 ($35,000 -- 20-1) and the profits before tax were $5,000 ($10,000 -- 20-1).2. On 1 October 20-1, Alpha's car engine valve manufacturing operation in country R wasexpropriated, without compensation, by the Government. The results of this operation hadpreviously been reported in the valve manufacturing industry segment and the Pacificgeographical segment. The loss arising from the expropriation has been accounted for as anextraordinary item. The gross loss arising from the expropriation represents the net carryingvalue of the assets and liabilities of the operation at the date of expropriation which amounted to $4,500. The revenues recognised relating to this operation from 1 January 20-1 until 1 October 20-1 were $10,000 and the profits before tax were $2,000.Fundamental errorsDuring 20-2, Beta Co discovered that certain products that had been sold during 20-1 but wereincorrectly included in inventory at 31 December 20-1 at $20,000 as the result of a fraudulent actcommitted by senior management.Beta's accounting records for 20-2 show sales of $94,000, cost of goods sold of $86,500 (including$20,000 for error in opening inventory), and taxation of $2,250.In 20-1, Beta reported:$Sales 90,000 Cost of goods sold (53,500)Profit from ordinary activities before taxation 36,500Taxation (10,950)Net profit 25,550=======20-1 opening retained earnings was $20,000 and closing retained earnings was $45,550.Beta's profit tax rate was 30% for 20-2 and 20-1.Beta CoExtract from the income statement20-2 ______20-1 (restated)$ $Sales 94,000 90,000 Costs of goods sold (66,500) (73,500)Profit from ordinary activities before taxation 27,500 16,500 Taxation (8,250) (4,950)Net profit 19,250=======11,550 =======Beta Co Statement of retained earnings20-2 ______20-1 (restated)$ $Opening retained earnings as previously reported 45,550 20,000 Correction of fundamental error (Net of taxation of$6,000) (Note 1)(14,000) - Opening retained earnings as restated 31,550 20,000 Net profit 19,250 11,550Closing retained earnings 50,800=======31,550 =======Extract from notes to financial statements1. Certain products that had been sold in 20-1 were incorrectly included in inventory at 31December 20-1 at $20,000 as the result of a fraudulent act committed by senior management.The financial statements of 20-1 have been restated to correct this error.Changes in accounting policyDuring 20-2, Gamma Co changed its accounting policy with respect to the treatment of borrowing costs that are not directly attributable to the acquisition of a hydro-electric power station which is in course of construction for use by Gamma. In previous periods, Gamma had capitalised such costs net of taxation. Gamma has now decided to expense, rather than capitalise, these costs in order to comply with SSAP 19 "Borrowing costs".Gamma capitalised borrowing costs incurred of $2,600 during 20-1 and $5,200 in periods prior to20-1.Gamma's accounting records for 20-2 show profit from ordinary activities before interest and taxation of $30,000; interest expense of $3,000 (which relates only to 20-2); and taxation of $8,100. Gamma has not yet recognised any depreciation on the power station because it is not yet in use.。
招股书的英文
Prospectus: An IntroductionThe prospectus is a document that plays a crucial role in the process of raising capital through a public offering. It is a comprehensive and detailed disclosure document, providing potential investors with essential information about a company and its securities. The prospectus serves as a vital tool for investors to make informed decisions, while also serving as a marketing tool for the company seeking capital.Structure of a Prospectus:A typical prospectus consists of several sections that present specific information related to the offering and the issuing company. Here are some key sections commonly found in a prospectus:1. Cover Page:The cover page captures the essential details such as the company’s name, logo, offering details, and the names of underwriters and agents involved in the offering. It sets the first impression and creates the initial connection with potential investors.2. Table of Contents:The table of contents lists the sections, subsections, and related page numbers within the prospectus. It helps investors navigate through the document and locate specific information of interest quickly.3. Summary:The summary section provides a concise yet comprehensive overview of the offering and the company. It presents the key highlights, such as the purpose of the offering, the nature of the business, financial highlights, risk factors, and the use of proceeds. The summary acts as a snapshot of the entire prospectus, capturing the attention of potential investors.4. Risk Factors:In this section, the company discloses the risks associated with investing in their securities. These risks may include, but are not limited to, market competition, regulatory uncertainties, dependence on key personnel, industry downturns, and financial risks. The purpose of disclosing risk factors is to ensure that potential investors are well-informed about the potential downsides before investing.5. Business Overview:This section provides a detailed description of the company’s background, including its history, business operations, products or services, markets served, and competitive advantages. The business overview helps potential investors understand the company’s industry and its position within the market.6. Financial Information:The financial information section presents the company’s historical financial performance, including financial statements, such as balance sheets, income statements, and cash flow statements. This section also includes the management’s analysis of financial performance, growth prospects, and anticipated future financial trends. Potential investors analyze this information to assess the company’s financial health and growth potential.7. Management and Board of Directors:This section introduces the company’s key management personnel and board of directors. It provides information about their experience, qualifications, and responsibilities. Potential investors evaluate the management team’s capabilities and expertise to assess their ability to lead the company effectively.8. Legal and Regulatory Matters:This section highlights any legal or regulatory matters that may impact the company’s operations, financial condition, or prospects. This may include pending litigations, regulatory investigations, intellectual property issues, and compliance matters. Potential investors assess the significance and potential impact of these matters before making investment decisions.9. Additional Information:The additional information section covers any miscellaneous information that is relevant to the offering and the company. This may include details about the underwriting agreement, dilution, terms of the securities being offered, and any other information deemed important for potential investors.10. Appendices:The appendices include supporting documentation and additional disclosures that provide further insights into the company and the offering. It may include audited financial statements, legal agreements, market research reports, and any other relevant information that enhances the transparency and credibility of the prospectus.Conclusion:The prospectus serves as a comprehensive and transparent communication tool between companies seeking capital and potential investors. As a legally mandated document, a prospectus ensures transparency and allows investors to make informed investment decisions. By effectively presenting the company’s business operations, financial information, risks, and opportunities, the prospectus provides potential investors with a clear understanding of the company and the securities being offered. Therefore, a well-crafted prospectus is crucial for a successful public offering and attracting potential investors.。
国际结算基本词汇翻译
1.（按施工）进度（分批）付款progress payment2.办理出口手续to carry out export formalities3.保兑信用证confirmed credit：；4.保费insurance premium5.保函letter of guarantee（L/G）6.备用信用证stand by L/C；7.背书endorsement8.背书endorsement：；9.背书人endorser：；10.被背书人endorsee：；11.本票promissory note12.财务状况financial standing13.财务状况financial status14.参加遭拒绝承兑汇票的承兑acceptance of honor supra protest：；15.参加遭拒绝付款汇票的付款payment for honor supra protest：；16.偿付方式reimbursement method17.偿付行reimbursing bank：；18.承兑acceptance:；19.承兑交单documents against acceptance20.承兑交单D/A：；21.持票人bearer22.持票人holder：；23.出口货物报关单form of customs declaration for export cargos24.出口清关to clear the goods for export25.出口托收outward collection26.出口押汇bill purchased：；27.出口押汇export bills28.出票人drawer：；29.初始存款initial deposit30.从属保函accessory guarantee：；31.大宗采购折扣bulk purchase discount32.代理行agent bank33.代理行correspondent bank：；34.代收行collecting bank35.代收行collecting bank：；36.贷方余额，信贷余额credit balance37.冻结资金的流动blocking the transfer of funds38.对价持票人holder for value：；39.对开信用证reciprocal credit：；40.多式联运multi-modal transport operation（M.T.O）41.费率表terms and conditions：；42.福费廷融资便利forfait facility43.付款交单documents against payment44.付款交单D/P:；45.付款交货/付款凭证payment on delivery / proof of delivery（P.O.D）46.付款人drawee：；47.附件enclosure48.跟单托收documentary collection49.跟单信用证documentary credit（D/C）50.共同海损general average（GA）51.光票托收clean collection52.国际汇款单international money order53.国际货物托运委托书shipper’s letter of instruction54.国际贸易的主要参与者the major participants in international trade55.国际贸易合同是在与国内贸易合同完全不同的环境下进行的international contract isconcluded in a completely different context than domestic ones56.红色条款信用证red clause credit：；57.汇出汇款outward remittance58.汇付Remittance:；59.汇款通知单remittance advise60.汇票draft（bill of exchange）：；61.汇票的不可流通副本non-negotiable copy of draft62.或有负债contingent liability63.货币波动的可能性the potential for currency fluctuation64.货物已越过船舷the goods have passed over the ship rail65.即期外汇汇率spot exchange rate66.记名提单straight bill of lading67.加押密码test key68.见票后after sight69.见票即付at sight70.金融单据financial instrument71.进口许可证import license72.进口许可证import license：73.镜子账户mirror account74.拒付protest dishonor：；75.绝对安全absolutely security76.开证issuance：；77.开证行issuing bank78.可撤销的revocable：；79.可转让提单negotiable bill of lading80.控制文件control file81.来账vostro account82.立即付现spot cash83.流动资金working capital84.流通票据negotiable instrument85.流转号，业务流程号rotation number86.履行交货责任to fulfill the obligation to deliver the goods87.履约保函performance guarantee88.履约保函performance guarantee：；89.买方信贷担保buyer credit guarantee90.卖方信贷supplier credit91.贸易壁垒trade barrier92.赔偿保证书letter of indemnity93.票汇demand draft（D/D）94.签字样本booklet of authorized signature95.清算帐户clearing account96.善意持票人bona fide holder：；97.商品检验条款the commodity inspection clause98.商业信用commercial credit99.赊销open account：；100.赊帐方式，记帐交易open account101.赊账交易open account：102.收货单（大副收据）mate’s receipt（M/R）103.收款人payee：；104.首批付款，定金down payment105.授权签字authorized signature106.套期保值操作hedging operations107.提示单据presentation of the document108.提示行presenting bank109.提示行presenting bank：；110.托收行remitting bank111.托收行remitting bank：；112.托收汇票bill for collection（B/C）113.托收委托书collection order114.外汇管制exchange restrictions115.往来帐户current account116.往帐nostro：；117.往账nostro account118.委托人principal119.委托人principal：；120.委托书engagement letter121.无意中造成的伤害inadvertent infraction 122.无追索权的without recourse123.物权单据title documents124.卸货港port of discharge125.信汇通知书mail advise126.信托收据trust receipt127.信托收据trust receipt：；128.信用额度credit limit129.信用审定credit approval130.信用状况credit standing131.信用状况：credit standing132.需要时的代理人in the case of need133.需要时的代理人the case of need：；134.延期付款defered payment：135.依附negotiation：；136.以……名义for the account of137.以银行信用为基础的结算settlement on bank credit 138.溢短装条款more or lees clause（M/L cls.）139.银行承对信用证banker’s acceptance L/C 140.银行信用bank credit141.应付账款accounts payable142.应收票据notes receivable143.应收账款accounts receivable144.有价证券market securities145.有限追索权limited recourse146.与……有联系on conjunction of147.预付款advance payment148.预付款advance payment：149.预支信用证anticipatory credit：；150.运费到付freight to collect151.运费预付freight prepaid152.在适当的时候in due course153.折扣discount：；154.正当持票人holder in due course：；155.支付保费to pay the insurance premium156.支票:check；157.支票帐户，活期账户checking account158.主要功能primary function159.装货单shipping order160.装货清单loading list（L/L）161.装箱单packing list162.装运单证shipping documents163.装运港port of loading164.装运通知单shipping note165.追索权right of recourse：；166.资本货物capital goods167.资信credit standing168.自动支付系统automated payment system169.租赁保函leasing guarantee：；170.最后装运期latest shipment date171.作为偿付in cover。
注册金融分析师-财务报表分析：导论
财务报表分析：导论单项选择题1、 Which of the following statements about a corporation' s annual reports, SEC filings, and press releases is most accurate?A. Annual and quarterly SEC filings are required to be audited.B. Interim SEC filings typically update the major financial statements and footnotes.C. Annual reports are generally viewed as the most factual and objective source of information about a company.2、 The step in the financial statement analysis framework of "processing the data" is least likely to include which activity?A. Acquiring the company' s financial statements.B. Making appropriate adjustments to the financial statements.C. Preparing exhibits such as graphs.3、 Which of the following statements about proxy statements is least accurate? Proxy statements are:A. issued to shareholders when there are matters that require a shareholder vote.B. not filed with the SEC.C. a good source of information about the qualifications of board members and management.4、 Which of the following is least likely to be available on EDGAR ( Electronic Data Gathering, Analysis, and Retrieval System)?A. SEC filings.B. Corporate press releases.C. Form 8-K.5、 Which of the following is an independent auditor least likely to do with respect to a company' s financial statements?A. Provide an opinion concerning their fairness and reliability.B. Perform an independent review of them.C. Prepare and accept responsibility for them.6、 Which of the following statements concerning the notes to the audited financial statements of acompany is least accurate? Financial statement notes:A. provide information about accounting methods used by the company.B. contain information about contingent losses that may occur.C. include management' s assessment of the company' s operating performance and financial results.7、 The Management Discussion and Analysis(MD&A. portion of the financial statements:A. is not required by the SEC.B. includes audited disclosures that help explain the information summarized in the financial statements.C. includes such items as discontinued operations, extraordinary items, and other unusual or infrequent events.8、 Which of the following statements represents information at a specificpoint in time?A. The income statement.B. The balance sheet.C. The statement of cash flows.9、 Which of the following best describes financial reporting and financia l statement analysis?A. Financial reporting refers to how companies show their financial performance and financial analysis refers to using the information to make economic decisions.B. Financial reporting is performed by investors, creditors, and other interested parties.C. Financial reports assess a company' s past performance in order to draw conclusions about the company's ability to generate cash and profits in the future.10、 Which of the following statements about financial statement analysis and reporting is least accurate ?A. Deciding whether to recommend a company' s securities to investors is a role of financial statement analysis.B. Financial statement analysis uses financial statement data to form opinions about the company's ability to generate cash flow in the future.C. Financial statement analysis focuses on the way companies show their financial performance to investors by preparing and presenting financial statements.11、 The auditor's report is required to:A. provide an "unqualified" opinion if material uncertainties exist.B. provide reasonable assurance that the financial statements contain no material misstatements.C. mention any significant deficiencies in the internal control structure.12、 Which of the following is the best description of the financial statement analysis framework?A. Gather data, analyze and interpret the data, determine the context, report the conclusions, update the analysis.B. Process and analyze the data, interpret the context, determine the objective, report the recommendations.C. State the objective and context, gather data, process the data, analyze and interpret the data, report the conclusions or recommendations, update the analysis.13、 The Management Discussion and Analysis (MD&A. portion of the financial disclosure is required to discuss all of the following EXCEPT:A. expected effects of marketplace events.B. capital resources and liquidity.C. a general business overview based on known trends.14、 The step in the financial statement analysis framework that includes making any appropriate adjustments to the financial statements and calculating ratios is best described as:A. gathering the data.B. reporting the conclusions.C. processing the data.15、 According to the IASB, which of the following least accurately describes financial reporting? Financial reporting :A. provides information about changes in financial position of an entity.B. provides information about the financial performance of an entity.C. uses the information in a company's financial statements to make economic decisions.16、 Lobel Manufacturing is currently running at capacity. Although Lobel cannot immediately fill orders for its product, it is taking orders for future delivery, and has just accepted a $100000 deposit (30 percent of the total) for an order that will be shipped in four months. According to the revenue recognition principle:A. Lobel should recognize the revenue for the entire order when it is shipped to the customer.B. Lobel should recognize the $100000 during the current accounting period because that is when the amount was actually paid.C. The entire (total) amount of the sale price should be recognized during the current accounting period because that is when the sale has been made.17、 Which of the following items would NOT be included in cash flow from financing?A. Gain on sale of stock of a subsidiary.B. Dividends paid to shareholders.C. Purchase of treasury stock.18、 Which of the following is least likely to be considered a stated goal of the International Accounting Standards Board (IASB. ?A. Develop global accounting standards requiring transparency, comparability, and high quality in financial statements.B. Remain neutral in the debate on the use of global accounting standards to avoid appearance of a conflict of interest.C. Account for the needs of emerging markets and small firms when implementing global accounting standards.19、 Which of the following statements about financial reporting standards is least accurate? Reporting standards :A. narrow the range within which management estimates can be seen as reasonable.B. make financial statements comparable to one another.C. are disclosed on Form 8 -K by publicly traded firms in the United States.20、 Sergey Martinenko is an investment analyst with Profis, Martinen ko and Verona. He is explaining to his new assistant, John Stevenson, why it is crucial for an investment analyst to read the footnotes to a firm' s financial statement and the Management Discussion and Analysis (MD&A. before making an investment decision. Which rationale is Martinenko least likely to provide to Stevenson regarding the importance of analyzing the footnotes and MD&A?A. Evaluating the footnotes helps the analyst assess whether management is manipulating earnings.B. Accruals, adjustments and assumptions are often explained in the footnotes and MD&A.C. The footnotes disclose whether or not the company is adhering to GAAP.21、 Which of the following statements about financial statements and reporting standards is least accurate ?A. Reporting standards focus mostly on format and presentation and allow management wide latitude in assumptions.B. The objective of financial statements is to provide economic decision makers with useful information.C. Reporting standards ensure that the information in financial statements is useful to a wide range of users.22、 The best description of the general ledger is that it:A. groups accounts into the categories that are presented in the financial statements.B. shows if new entries need to be recorded and reflected in an adjusted trial balance.C. sorts the entries in the general journal by account.23、 Which of the following is the best description of the flow of information in an accounting system?A. Journal entries, general ledger, trial balance, financial statements.B. General ledger, trial balance, general journal, financial statements.C. Financial statements, general ledger, trial balance, general journal.24、 Which of the following is NOT a category on the statement of cash flows? Cash flow from :A. financing.B. investing.C. sales.25、 Prema Singh is the book keeper for Octabius Industries. Singh has been asked by the CFO of Oetabius to review all purchases that occurred between February 1 and February 8 to investigate an error on the receiving dock. Singh will most likely look at the:A. initial trial balance.B. general journal.C. general ledger.26、 Which of the following is least likely to be considered an objective of financial market regulation according to the International Organization of Securities Commissions (IOSCO) ?A. Protect investors.B. Reduce systemic risk.C. Develop individual financial regulatory standards for each country to reflect the unique needs of each market.27、 An analyst is least likely to use disclosures of accounting policies and estimates to evaluate:A. what policies are discussed.B. which policies required management to make estimates.C. what policies are likely to be modified in future periods.28、 Which of the following is NOT a qualitative characteristic accounting information must possess in order to provide useful information to an analyst?A. Relevance.B. Believability.C. Comparability.29、 According to the Financial Accounting Standards Board (FASB. conceptualframework, which of the following situations violates the concept of reliability?A. Management reports to stockholders regularly refer to new projects undertaken.B. Financial statements included property with a carrying amount increased to management' s estimate of market value.C. Management issued the company's financial statements nine months late.30、 Which of the following is a company least likely required to present according to International Accounting Standard (IAS) No. 1 ?A. Cash flow statement.B. Disclosures of material events.C. Statement of changes in owners' equity.31、 Which of the following statements about financial reporting standards is least accurate? Reporting standards:A. narrow the range within which management estimates can be seen as reasonable.B. make financial statements comparable to one another.C. are disclosed on Form 8 -K by publicly traded firms in the United States.32、 Professional organizations of accountants and auditors that establish financial reporting standards are called :A. Regulatory authorities.B. Financial services authorities.C. Standard setting bodies.答案:单项选择题1、BBesides the annual SEC filings, an analyst should examine a company' s quarterly or semiannual filings. These interim filings typically update the major financial statements and footnotes, but are not necessarily audited. Annual reports and press releases are written by management and are often viewed as public relations or sales materials.2、AThe financial statement analysis framework consists of six steps. Step 2: "Gather data" includes acquiring the company' s financial statements and other relevant data on its industry and the economy. Step 3: "Process the data" includes activities such as making any appropriate adjustments to the financial statements, calculating ratios, and preparing exhibits such as graphs and common-size balance sheets.3、BProxy statements are issued to shareholders when there are matters that require a shareholder vote. These statements, which are also filed with the SEC and available from EDGAR, are a good source of information about the election of (and qualifications of) board members, compensation, management qualifications, and the issuance of stock options.4、BSecurities and Exchange Commission (SEC) filings are available from EDGAR (Electronic Data Gathering, Analysis, and Retrieval System, www. see. gov). These include Form 8-K, which a company must file to report events such as acquisitions and disposals of major assets or changes in its management or corporate governance. Companies' annual and quarterly financial statements are also filed with the SEC (Form 10-K and Form 10-Q, respectively).5、CAuditors make an independent review of financial statements, which are prepared by company management and are management' s responsibility. It is the responsibility of auditors to confirm the assets, liabilities, and other items included in the statements and then issue an opinion concerning their fairness and reliability.6、CManagement' s perspective on the company' s results is provided in the Management' s Discussion and Analysis supplement to the financial statements. Financial statement notes (footnotes) provide information about matters such as the company' s accounting methods and assumptions, contingencies, and acquisitions and disposals.7、CThe MD&A provides an assessment of the financial performance and condition of the company from the perspective of the company and is required by the SEC. It includes many areas including such items as discontinued operations, extraordinary items, and other unusual or infrequent events. The MD&A is typically not audited. The statement of comprehensive income reports the change in equity from transactions and from non-owner sources.8、BThe balance sheet represents information at a specific point in time. The income statement represents information over a period of time. The statement of cash flows also represents information over a period of time.9、AFinancial reporting refers to the way companies show their financial performance to investors, creditors, and other interested parties by preparing and presenting financial statements. The objective of financial statements, not analysis, is to provide information about the financial position, performance and changes in financial position of an entity that is useful to a wide range of users in making economic decisions.10、CFinancial reporting refers to the way companies show their financial performance to investors, creditors, and other interested parties by preparing and presenting financial statements, including information about changes in a company' s financial position. The role of financial statement analysis is to use the information in a company' s financial statements, along with other relevant information, to make economic decisions.11、BThe standard auditor' s report contains three parts:(1) the financial statements are prepared by management and are their responsibility and the auditor has performed an independent review(2) the audit was conducted using GAAP, which provides reasonable assurance that there are no material errors in the financial statements, and(3) the auditor is satisfied the statements were prepared in accordance with GAAP and the principles chosen and estimates are reasonable.12、CThe financial statement analysis framework consists of six steps:(1) State the objective and context.(2) Gather data.(3) Process the data.(4) Analyze and interpret the data.(5) Report the conclusions or recommendations.(6) Update the analysis.13、AThe MD&A portion of the financial disclosure is required to discuss results of operations, capital resources and liquidity and a general business overview based on known trends. A discussion of expected effects of marketplace events may voluntarily be included by a firm, but is not required in the MD&A portion.14、CProcess the data: Make any appropriate adjustments to the financial statements. Calculate ratios. Prepare exhibits such as graphs and common-size balance sheets.15、CThe role of financial reporting is described by the International Accounting Standards Board (IASB) in its" Framework for the Preparation and Presentation of Financial Statements" : The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an entity that is useful to a wide range of users in making economic decisions. Using the information in a company' s financial statements to make economic decisions is financial analysis, not financial reporting.16、AAccording to the revenue recognition principle, only revenue that has actually been earned is recognized on the income statement. Lobel received an order that it cannot currently fill because they are taking back orders, so the revenue will not be earned until the goods are manufactured and shipped. 17、AGains or losses will be found in cash flow from investments.18、BThe IASB has four stated goals:(1) Develop global accounting standards requiring transparency, comparability, and high quality in financial statements.(2) Promote the use of global accounting standards.(3) Account for the needs of emerging markets and small firms when implementing global accounting standards.(4) Achieve convergence between various national accounting standards and global accounting standards.19、CReporting standards ensure that the information is "useful to a wide range of users", including security analysts, by making financial statements comparable to one another and narrowing the range within which management' s estimates can be seen as reasonable. Securities & Exchange Commission Form 8 K addresses acquisitions, divestitures, etc. and not reporting standards.20、CVarious accruals, adjustments, and management assumptions that went into the financial statements are often explained in the footnotes to the statements and in Management' s Discussion and Analysis. Because adjustments and assumptions within the financial statements are to some extent at the discretion of management, the possibility exists that management can try to manipulate or misrepresent the company' s financial performance. With this information, the analyst can better judge how well the financial statements reflect the company' s true performance, and in what ways he needs to adjust the data for his own analysis. Whether or not the company is adhering to GAAP is addressed in the auditor' s opinion, not the footnotes.21、AGiven the variety and complexity of possible transactions, and the estimates and assumptions a firm must make when presenting its performance, financial statements could potentially take any form if reporting standards didn' t exist. Reporting standards ensure that the information is "useful to a wide range of users," including security analysts, by making financial statements comparable to one another and narrowing the range within which management' s estimates can be seen as reasonable. Reporting standards limit the range of assumptions management can make.22、CInformation flows through an accounting system in four steps:(1) Journal entries record every transaction, showing which accounts are changed by what amounts. A listing of all the journal entries in order by date is called the "general journal".(2) The general ledger sorts the entries in the general journal by account.(3) At the end of the accounting period, an initial trial balance is prepared that shows the balances in each account. If any adjusting entries are needed, they will be recorded and reflected in an adjusted trial balance.(4) The account balances from the adjusted trial balance are presented in the financial statements.23、AInformation flows through an accounting system in four steps:1. Journal entries.2. The general ledger.3. an initial trial balance.4. the financial statements.24、CThere are only three types of cash flows : financing, investing, and operating.25、BJournal entries record every transaction, showing which accounts are changed by what amounts A listing of all the journal entries in order by date is called the "general journal. "26、CThe three objectives of financial market regulation according to IOSCO are to ( 1 ) protect investors, (2) ensure the fairness, efficiency, and transparency of markets, and (3) reduce systemic risk. Because of the increasing globalization of securities markets, IOSCO seeks to attain uniform financial regulations across countries.27、CCompanies that prepare financial statements under IFRS or U.S. GAAP must disclose their accounting policies and estimates in the footnotes and Management' s Discussion and Analysis. An analyst should use these disclosures to evaluate what policies are discussed, whether they cover all the relevant data in the financial statements, which policies required management to make estimates, and whether the disclosures have changed since the prior period.28、BQualitative characteristics that accounting information must possess under Statement of Financial Accounting Concepts (SFAC) include relevance, reliability, timeliness, consistency, materiality, and comparability. Believability is not one of the factors.29、BReliability refers to information that can be verified (measured accurately) and has representational faithfulness (they are what they report to be) and neutrality ( does not consider the economic impact of the reported information).30、BInternational Accounting Standard (IAS) No. 1 defines which financial statements are required and how they must be presented. The required financial statements are. Balance sheet, Income statement, Cash flow statement, Statement of changes in owners' equity, Explanatory notes, ineluding a summary ofaccounting policies.Disclosures of material events that affect the company are required by the Securities and Exchange Commission (Form 8-K) for firms that are publicly traded in the United States.31、CReporting standards ensure that the information is "useful to a wide range of users" including security analysts, by making financial statements comparable to one another and narrowing the range within which management' s estimates can be seen as reasonable. Securities & Exchange Commission Form 8 -K addresses acquisitions, divestitures, etc. and not reporting standards.32、CStandard-setting bodies are professional organizations of accountants and auditors that establish financial reporting standards. Regulatory authorities are government agencies that have the legal authority to enforce compliance with financial reporting standards. Regulatory authorities, such as the Securities and Exchange Commission (SEC) in the U. S. and the Financial Services Authority (FSA) in the United Kingdom, are established by national governments. Most national authorities belong to the International Organization of Securities Commissions (IOSCO).。
赞成 反对 英语作文
When writing an essay in English on the topic of For and Against,it is crucial to structure your argument effectively,presenting both sides of the issue before concluding with your own stance.Here is a detailed guide on how to approach such an essay:IntroductionHook:Start with a compelling statement or question that grabs the readers attention. Background:Briefly introduce the topic and its relevance.Thesis Statement:Clearly state your position on the issue.Body Paragraphs:Arguments for the TopicFirst Argument:Present the first point in favor of the topic.Provide evidence or examples to support this point.Second Argument:Introduce another reason why the topic is beneficial or valid.Again, support this with evidence or logical reasoning.Body Paragraphs:Arguments Against the TopicFirst Counterargument:Present the first point against the topic.Explain why this argument is significant and how it counters the points made previously.Second Counterargument:Offer another reason why the topic might be problematic or less favorable.Provide evidence or examples to support this argument.RebuttalAddressing Weaknesses:Briefly address any potential weaknesses in your arguments and explain why they are not as strong as the points you have made.ConclusionSummary:Summarize the main points made in the essay,both for and against the topic. Personal Stance:Clearly state your final position on the issue,taking into account all the arguments presented.Call to Action or Recommendation:End with a suggestion for further action or a recommendation based on your conclusion.Example Essay StructureTitle:The Impact of Social Media on SocietyIntroductionHook:Is social media a boon or a bane for society?Background:The ubiquity of social media in modern life.Thesis Statement:While social media has many benefits,such as connecting people andsharing information,it also has significant drawbacks,including privacy concerns and the spread of misinformation.Body Paragraphs:Arguments for Social Media1.First Argument:Social media facilitates communication and connection among people regardless of geographical boundaries.Evidence:The ability to stay in touch with friends and family,and to meet new people from around the world.2.Second Argument:It serves as a platform for selfexpression and creativity. Evidence:Users can share their art,thoughts,and experiences,fostering a sense of community and selfempowerment.Body Paragraphs:Arguments Against Social Media1.First Counterargument:Social media can lead to privacy violations and cyberbullying. Evidence:Instances of personal information being misused and the negative impact of cyberbullying on mental health.2.Second Counterargument:It can be a source of misinformation and echo chambers. Evidence:The spread of fake news and the tendency for users to surround themselves with likeminded individuals,reinforcing biases.RebuttalAddressing the argument that social media can be regulated to prevent misinformation: While regulation is possible,it is challenging to implement universally and may infringe on freedom of speech.ConclusionSummary:Social media has transformed how we communicate and share information, offering both opportunities and challenges.Personal Stance:Despite its benefits,the negative aspects of social media,such as privacy issues and misinformation,are significant and warrant careful consideration. Call to Action:It is essential for users to be critical consumers of information and for platforms to take responsibility for the content they host.By following this structure,you can create a wellrounded and persuasive essay that presents both sides of an argument before concluding with your own stance.。
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FINANCIAL MANAGEMENT CORPORATION
WHY EXPLAIN?
This information is important! Non-Accountants don’t understand Lack of understanding can lead to misconceptions Decision making and the ultimate health of a community or organization requires good information
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHAT STATEMENTS ARE….
Historical Report Balance sheet is at a point in time “A Picture” Income and Expenditure is over a period of time “A Movie”
HARTEL
FINANCIAL MANAGEMENT CORPORATION
Why is presentation important?
Example
Financial Statements tell us that we have a crises in the Rental Housing Fund that requires immediate action Statements include too much detail showing the repair expense to each house Minor arguments start about the repairs, and who got the “new flooring” What happens – the true issue of the crises gets ignored!
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHAT STATEMENTS ARE….
Financial Statements are a written report which quantitatively describe the financial health of an organization. The major statements are: •Balance sheet •Revenue and Expenditure •Changes in Fund balance •Cash Flows •Notes to the Financial Statements
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHAT STATEMENTS ARE NOT.. Financial Statements are not perfect Do not predict the future Not prepared by auditors – auditor reports on the statements May not include “immaterial” items
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHAT STATEMENTS ARE….
Prepared using an acceptable standard
Generally Accepted Accounting Principles GAAP Other standards may be acceptable
HARTEL
FINANCIAL MANAGEMENT CORPORATION
Why is presentation important?
Presentation of information can influence the reader
For example, a business has a loss of $1 million, this can either be terrible news, or great news depending on the presentation “We have lost $1 million and we must lay-off employees” “We only lost $1 million due to our aggressive efforts to reduce costs”
HARTEL
FINANCIAL MANAGEMENT CORPORATION
Why is presentation important?
Who are the users of financial information? Who are the decision makers? How will the financial information be interpreted? Will the reader understand? Don’t make assumptions!
HARTEL
FINANCIAL MANAGEMENT CORPORATION
Why is presentation important?
How much detail is required? Too much detail can distract the reader from the message you are trying to convey
Effectively Presenting Financial Statements An Introducvid Brighten CAFM CGA
HARTEL
FINANCIAL MANAGEMENT CORPORATION
HARTEL
FINANCIAL MANAGEMENT CORPORATION
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHAT STATEMENTS ARE NOT.. Financial Statements are not on a cash basis and therefore do not specifically report cash flows or predict cash flows.
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHAT STATEMENTS ARE….
Financial Statements are the single most important tool management has in making decisions
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHO WE ARE CONT’D…
David Brighten CAFM, CGA 18 years in the accounting profession 15 years working with First Nations Advisor to the Waskaganish First Nation National Management Committee of Porter Hetu International
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHAT STATEMENTS ARE….
Responsibility of Management and approved by Chief and Council Prepared by the Band/Organization even if audited
HARTEL
FINANCIAL MANAGEMENT CORPORATION
WHAT STATEMENTS ARE….
Issued periodically i.e. monthly, quarterly or annually Internal or external Audited or unaudited Often will include a report or opinion External accountant may Review or Audit
HARTEL
FINANCIAL MANAGEMENT CORPORATION
Why is presentation important?
When preparing the presentation, identify the users and decision makers and determine what information is critical to them. Ensure the presentation is written in a manner the audience will understand Use non-numerical tools such as graphs, charts, etc.
HARTEL
FINANCIAL MANAGEMENT CORPORATION
QUESTIONS?
QUESTIONS?
HARTEL
FINANCIAL MANAGEMENT CORPORATION
Why is presentation important?
In this section, we will discuss who uses financial information and why the presentation is critical.
HARTEL
FINANCIAL MANAGEMENT CORPORATION
LETS KEEP THIS FUN!