第十一章 财务报表[24页]
第十一章 财务报告
项
目
一、净利润
加：年初未分配利润
其他转入
二、可供分配的利润
减：提取法定盈余公积
提取法定公益金
提取职工奖励及福利基金
提取储备基金
提取企业发展基金
利润归还投资
行次
本年实际
－
－ － － －
上年实际 ┅ ┅ ┅ ┅ ┅ ┅ － － －
－
三、可供投资者分配的利润
┅
减：应付优先股股利
－
－
提取任意盈余公积
┅
应付普通股股利
其他应付款
一年内到期的非流动负债 其他流动负债
期末 年初 余额 余额
非流动资产： 可供出售金融资产 持有至到期投资 长期应收款 长期股权投资 投资性房地产 固定资产 在建工程 工程物资 固定资产清理 生产性生物资产 油气资产 无形资产 开发支出 商誉 长期待摊费用 递延所得税资产 其他非流动资产 非流动资产合计
企业应当以持续经 营为基础 ,企业不 应以附注披露代替
确认和计量
各个会计期间保 持一致，不得随 意变更
企业至少应当按年编
性质或功能不同的 项目，应当在财务 报表中单独列报， 但不具有重要性的 项目除外
财 务 会 计 基 本 理 论
制财务报表。年度财
务报表涵盖的期间短 于一年的，应当披露 年度财务报表的涵盖
第十一章 财务会计报告
第一节 第二节 第三节 第四节 第五节 第六节
财务报告概述 资产负债表 利润表和利润分配表 现金流量表 所有者权益变动表 会计报表附注
财 务
提供与企业财务状况、经营成果和现金流量等 有关的会计信息
会
计
报
告
目
标
反映企业管理层受托责任履行情况
财务报表分析与运用 杰拉尔德 课后答案英文版第十一章
Chapter 11 SolutionsOverview:Problem Length Problem #s{S} 1 - 4, 9, 11, 12, 15, 16, 21, 22{M} 5, 7, 8, 10, 13, 14, 17, 18, 20, 23, 24 {L} 6, 19, 251.{S}(i) Interest expense = 12% x $10,000 (beginning balance oflease obligation) = $1,200.(ii)The lease obligation will be reduced by $100 ($1,300 - $1,200) leaving an obligation of $9,900.(iii)Cash from Operations will be reduced by the interest payment of $1,200. Cash from investing activities willnot be affected. (However, the firm will report thecapi tal lease as a “noncash investment and financingactivity.” Cash from financing will be reduced by theamount of the principal payment of $100.(iv)Under an operating lease there is no lease obligation on the balance sheet. The only effect on income isRent Expense of $1,300. Similarly, CFO is reduced by$1,300. (CFI and CFF are not affected).2.{S}(i) In a take-or-pay arrangement, a company contracts tobuy or pay for a certain amount of a supplier’scommodity at a predetermined price over a stated timeperiod. The company, by entering the contract, incursan economic liability. However, since it is only acontract, no accounting liability is recorded on thebalance sheet – it is off balance sheet.(ii) In a sale of receivable, a company “sells” its receivables to a third-party, usually a financialinstitution. Typically, the sale is made at adiscounted price from the face value and the sellermay retain some or all of the default risk. The sale,in substance, is a financing arrangement with thereceivables being used as collateral. However, underGAAP, the transaction is treated as a sale and thedebt does not appear on the balance sheet.(iii)A joint venture represents an investment of 50% or less by one company (the “investor”) in anothercompany. Under GAAP, since ownership is not over 50%,the assets and liabilities of the joint venture neednot be consolidated with the parent’s assets andliabilities. Hence, any debt taken on by the jointventure remains off balance sheet even when theinvestor is liable for the debt.11-13.{S} Effect of choice of interest rate on lessee:4.{S}a. Pallavi must capitalize the lease because the leaseagreement contains a bargain purchase option. Notethat the lease also meets one other capitalizationcriterion: The present value of minimum lease paymentsexceeds 90% of the fair market value of the equipment(see part b for computations).b. The fair market value of the asset is $125,000. Thepresent value of the MLPs is $127,785 (at 8%, thelower of the lessee and lessor rates); the asset mustbe capitalized at the (lower) fair market value. (Notethat the lease obligation is the sum of the presentvalues of the MLPs and the bargain purchase option –the latter is not provided.)11-2c.Leases must be capitalized at the lesser of thepresent value of lease payments or the fair value ofthe lease; in this case, the lease must be capitalizedat the fair value of $125,000.d. The existence of the bargain purchase option requiresdepreciation over the estimated economic life of theasset rather than the (shorter) lease term.e. The option creates the presumption that the asset willbe held past the expiration date of the lease.Otherwise it must be assumed that use of the assetwill revert to the lessor at expiration, requiring thelessee to depreciate the leased asset over the(shorter) lease term.5.{M}a. The following states the effects of Tolrem using thecapital lease method as compared with the operatinglease method.(i) Cash from operations is higher as only theinterest portion of lease expense is deductedfrom operating cash flows; total lease expense isdeducted for operating leases.(ii) Financing cash flow is lower for capital lease, as part of lease rental is treated asamortization of liability and classified asfinancing cash outflow.(iii)Investing cash flow is not affected by the lease treatment. However, the firm will report capitalleases in the statement of cash flows (or afootnote) as noncash investment activities.(iv) Net cash flow reflects the actual rental payment and is unaffected by the financial reportingtreatment of the lease.(v) Debt/equity ratio is higher for capital lease, as it records the present value of minimum leasepayments as debt and reduces net income (andtherefore equity) in first year.(vi) Interest coverage ratio is usually (not always) lower for capital lease method, which reportsinterest expense but also higher EBIT, see (vii).For coverage ratios well above 1.0, the ratiowill decline. If the increase in interest expenseexceeds the increase in EBIT, the ratio willdecline even for firms with very low coverageratios.11-3(vii)Operating income is lower for operating lease because the total lease payment is an operatingexpense; for capital lease, interest portion oflease expense is nonoperating.(viii)Net income is higher for operating lease; total lease expense (interest plus depreciation) ishigher for capital lease.(ix) Deferred tax assets are higher for capital lease;as lease treatment for tax purposes is unaffectedby accounting choice, capital lease will generatea deferred tax asset as taxable income (operatinglease) exceeds pretax income (capital lease).(x) Taxes paid are unaffected by choice of method.(xi) Pretax return on assets is higher for operating leases as pretax income is higher and no assetsare reported as the result of the lease; acapital lease reduces income and reports leaseassets. Post-tax return on assets is higher forthe same reasons.(xii)Pretax return on equity: both pretax income and equity are higher for operating than for capitalleases. The higher pretax income should increasethe ratio in all but exceptional cases. Post-taxreturn on equity should be higher for same reason.However as increase in post-tax income equals(for first year) increase in equity, there may bemore exceptional cases.b. Net income (viii) will be lower for the operatinglease after the "crossover" point. As total net income over the life of the lease is unaffected by the accounting choice, higher net income (operating lease) in the early years must be offset by lower net income in later years.c. Consistent use of the operating lease method in placeof capitalization will not change the direction of the effects shown in part A, but will increase their magnitude. In aggregate, new leases will keep Tolrem from reaching the crossover point for net income, keeping net income and return ratios higher than if the leases were capitalized.11-46.{L}a. and b.4 payment annuity of $10,000 per year at 8%). Assuming zero residualvalue, depreciation = $43,121/5 = $8,624.2Interest expense = 8% x ($43,121 - $10,000) = $2,650Caramino's EBIT is $1,376 higher; Aglianico reportsrental expense but no depreciation expense since itdoes not record an asset. Because total lease expense(depreciation plus interest) is higher than the leaserental, Caramino's EBT is lower by $1,274. After adeferred income tax offset of $510, Caramino's netincome is $764 lower.Caramino's deferred tax debit (asset) results from thedifference between financial reporting (capital lease)and tax reporting (operating lease). The $1,274 timingdifference results in a deferred tax debit of $1,274x .40 = $510c. andd. Comparison of Cash Flow Statementshave been collected by the end of the year.11-5Caramino reports higher cash from operations by $10,000. Since the tax rate is 40%, Aglianico (operating lease firm) reports aftertax operating cash outflow of $6,000. Caramino (capital lease firm) pays no interest but, since it uses the operating lease method for taxes, receives a tax deduction of $4,000 for the annual payment of $10,000. Caramino's aftertax operating cash inflow is $4,000.The difference ($6,000 + $4,000 = $10,000) is recorded by Caramino as a financing cash outflow; this is the amount of the lease payment considered a reduction of the capitalized lease liability for 2002. [Note that the lease payment made on January 1, 2002 has no interest component; there is no accrued interest as the lease has just begun. Interest accrued during the year will be paid January 1, 2003.]e. There is no impact on investing cash flow for eitherfirm. Caramino would report the present value of the capital lease as a noncash investment activity.f. The net cash outflow for each firm is the leasepayment of $10,000 less the tax deduction of $4,000 (40% tax rate). Only the classification of cash flow components is affected by the lease method used.g. By using the capital lease method, Caramino reportshigher debt and lower income. However the firm also reports higher cash from operations. The choice of method may reflect different debt covenants or simplya preference among financial characteristics.11-67.(M) a. Since it is the first year:Capital lease obligations $2,596,031Repayment of capital lease obligations 3,969Capital lease at inception $2,600,000b. Amortization expense =$2,600,000 - $2,479,570 = $120,430Assuming the asset is being amortized on a straightline basis over the lease term, the lease term =$2,600,000/$120,430 = 21.6 or 22 yearsTotal expense = interest + amortization =$120,430 + $223,733 = $344,163c. CFO was reduced by the interest expense of $223,733and CFF was reduced by the “repayment of capital leaseobligations” of $ 3,969d. Free cash flows should be reduced by $2,600,000 – the“cost” of the leased asset.e. (i) Lease expense would be lease payment =$223,733 + $3,969 = $227,702(ii) CFO would be reduced by lease payment of $227,702f. Using 1999 payment only: $223,733/$2,600,000 = 8.6%Using all the payments, we have exact MLP’s for thesix years 1999 –2004. The “thereafter” MLP’s totaling$4,596 thousand are spread over 16 years; i.e. $287.25thousand/year. Equating this stream to the presentvalue of $2,600,000 yields a rate (IRR) of 9.3%.The two methods yield rates within “range” of eachother especially when we consider that the ratederived from the first method is typically downwardbiased.11-78.{M}a. The adjustment involves the addition of the interestcomponent of minimum lease payments to stated interestexpense. The adjustment reflects a partial, de factocapitalization of operating leases.(i)Unadjusted Ratio of Earnings to Fixed Charges:Pretax earnings $ 2,363,646Interest on indebtedness 68,528Earnings before interest and taxes (EBIT) $ 2,432,174Fixed Charges:Interest on indebtedness $ 68,528Unadjusted Ratio of Earnings to Fixed Charges 35.5X(ii) The unadjusted ratio is almost four times the adjusted ratio. Note: the SEC rule that governsthis calculation assumes that the interestcomponent is one-third of the MLP. The trueinterest component may be higher or lower,changing the coverage ratio.b. Reported debt-to-equity = $550,000/$2,233,303 = 0.25c. Calculation of amounts adjusted for leasecapitalization:The Limited, Inc.1999 Working Capital Position and Capitalization Table1 Working capital is reduced by the principal component of the 2000MLPs calculated as$436,670 = [($643,828 - (.06 x $3,452,628)],where $3,452,628 is the present value calculated in note 2 below.2 Present value of MLPs using an interest rate of 6%. The “thereafter”MLPs are spread using the constant rate assumption; ($502,880 in 2005and 2006 and $422,102 in 2007).11-89.{S} Note: all amounts in $millionsa. Debt to equity = ($2,416 + $235)/$4,448 = 0.60b. (i) Interest portion of 2001 payment = $63-$39 = $24Therefore interest rate = $24/$235 = 10.2%(ii)Using the constant rate assumption yields theThe IRR that equates the above to $235 is 7.9%c. Under the constant rate assumption, the payment streamto be discounted at 10.2% isThe present value is $7,435d. Adjusted debt-to-equity is($2,416 + $235 + $7,435)/$4,448 = 2.27The adjustment increases the ratio almost four-fold.The real effect is greater as equity would be lower ifDelta had capitalized its operating leases at theirinception.e. After adjustment, both AMR’s and Delta’s ratios are atsimilar levels of 2.3x.Had the lower rate been used, the present value ofDelta’s operating lease would be significantly higheras would its debt-to-equity ratio.f. The adjustments are appropriate for two reasons(1)To obtain the appropriate levels of the ratio foreach firm. For both companies, the reported ratiosunderstate their financial leverage.(2)For comparison purposes. Before adjustment,Delta’s ratio at 0.6x is 50% lower than AMR’s 0.9x.After adjustment, that superiority is removed asboth firms have similar ratios.11-910.{M}a. The following MLP stream is assumed (€ million):At a rate of 7%, the present value is €505.3 millio nb. (i) €1,294/€14,145 = 0.09(ii)(€1,294 + €505)/€14,145 = 0.13c.Another assumption would be to find a decline ratefrom the initial payment of €166.5 such that the sumof the years 2 to 5 payments using that decline rateequals €275.2; i.e. solve for d i n the followingequation(d + d2 + d3 + d4 ) x €166.5 = €275.2The above can be solved by trial and error and thesolution is d = 67.66% with a MLP stream of €112.6,€76.2, €51.5 and €34.9.Using this MLP stream would increase the present valueof the operating lease obligation.11.{S}a. We use the constant rate assumption, yielding thefollowing payment stream (€ millions)At a discount rate of 7%, the present value is €12,543.b. (i) Reported debt-to-equity = €1,294/€14,145 = 0.09Adjusted for part a:(€1,294 + €12,543)/€14,145 = 0.98(ii) Adjusting for operating leases as well(€1,294 + €12,543 + €505)/€14,145 = 1.0111-1012.{S}a. The cash outflow of $25.6 million represents thedecrease in the balance of sold but uncollectedreceivables ($192.8 - $167.2). It represents netcollections (by Arkla as the firm continues to servicethe receivables) of receivables sold; amountscollected from previously sold receivables were paidto the purchasers of those receivables.b. Receivables sold but uncollected as of 12/31/93 can bededuced to be:Outstanding 3/31/94 $118.7 millionDecrease during quarter 107.7Outstanding 12/31/93 $226.4 millionc. The required adjustments to Arkla's CFO for quartersended:March 31, 1994 March 31, 1995 Cash outflow $107.7 $25.6These amounts are the decrease in receivables soldduring the respective quarters. The adjustment isrequired because the cash flow was recognized when thereceivables were sold rather than when customers paid.This adjustment produces a measure of CFO based onwhen the receivables were collected.13.{S} All amounts in $millionsa. (i) Current ratio was increased by 15% from 1.61 to1.86 as a result of receivable sale.Reported = $686/$369 = 1.86Adjusted = ($686 + $153.1)/($369 + $153.1) = 1.61 (ii) & (iii)Average receivables as reported =.5($546 + $312) = $429Adjusting for sale of receivables would increaseaverage receivables by.5($153.1 + $115) = $134 to $563Reported turnover = $2,951/$429 = 6.88# of days = 365/6.88 = 53 daysAdjusted turnover = $2,951/$563 = 5.24# of days = 365/5.24 = 70 daysAs a result of the receivable sale the cash cyclelooked better than it really was by (70 –53) =17 days and the receivables turnover “improved”from 5.24 to 6.8811-11b. Reported debt/equity = $1,096/$950 = 1.15Debt should be adjusted upwards by the receivablessold to ($1,096 + $153.1 =) $1,249.1 with a resultantdebt to equity ratio of $1,249.1/$950 = 1.31.c. Reported cash flow from operations increased by $154million from ($96) million to $58 million. Theseamounts were inflated by the increase in receivablessold and should be adjusted by that increase:Adjusted CFO 1998 = ($96) – ($115 – $103.3) = ($107.7)Adjusted CFO 1999 = $58 - ($153.1 – $115) = $19.9After removing the effects of the receivable sales,CFO increased by $127.6 million from ($107.7) millionto $19.9 million. The actual level and trend in CFO isconsiderably lower than the amounts reported.14.{M}a.11-12The sale of receivables allowed the company to show an improved receivable turnover and cash cycle; the improvement was more significant for 1999 as the amount of receivables sold increased and sales declined.b. The effect on the current ratio is minimal as the sameamount is added to both numerator and denominator of the ratio and that ratio is close to 1. The debt-to-equity ratio adjustment is more significant in 1999 due to the increase in receivables sold and the lower equity amount.c. As the calculation below indicates, both the level andtrend in CFO are overstated as a result of the sale of receivables.11-1315.{S}a. The cash from investment amounts are equivalent to thechange in the “Receivables sold by Funding topurchaser”. (Reca ll that 1997 was the first year ofreceivable sales.)b.receivable balances 17% to 21% less than their actuallevels.c. The sale of receivables should be reported as cashfrom financing as they are, in effect, borrowings(using receivables as collateral).16.{S} Aluminum producers that have take-or-pay contracts forenergy and/or bauxite have converted significantvariable costs into fixed costs. Therefore, theirmarginal costs are much lower than if these contractshad not been entered into. Under these conditions,aluminum producers will continue production as long asrevenue exceeds marginal costs, even though they losemoney based on total costs.17.{M}a. By transferring receivables to a (unconsolidated)subsidiary, Lucent removed the receivables from itsreceivable balance and reported them as “Investments,”a somewhat different asset category. Analyticaladjustment is required to eliminate the artificialreported “improvements” in receivables turnover, thecurrent ratio and the cash cycle.b. The adjustment requires adding $700 million (inaddition to the balance of uncollected receivables) tothe 1999 accounts receivable and current assets. Theeffect is to increase the growth in receivables,reduce the receivable turnover and increase the numberof days receivables outstanding. This adjustmentreinforces the conclusion (see text page 381) thatLucent’s receivables growth outpaced the growth insales. On the other hand, the adjustment improves the1999 current ratio.11-14Note: The bold values indicate which amounts were altered from Exhibit 11-4. The Exhibit 11-4 amounts for those items affected by the adjustment are shown in parentheses.11-1518.{M}a. Debt should be increased by:$ 20 million (present value of operating lease)5 (guarantee)7 (present value of take-or-pay agreement)$ 32 millionThere is no effect on equity as each obligation isoffset by a corresponding asset:Leased assets for operating leaseReceivable for Crockett's obligation to repay debtSupply agreementThe recomputed debt-to-equity ratio is:($12 + $32)/$20 = 2.2X as compared to .6X beforeadjustmentb. Additional interest expense is:Lease (effective interest rate is about 18%).18 x $20 = $3.6 millionBond guarantee .10 x 5 = 0.5Total $ 4.1 millionBefore adjustment, the interest expense is $1.0 millionand the times interest earned ratio is 5.0, implyingEBIT of $5.0 million.After adjustment, the ratio is:($5.0 + $4.1)/($1.0 + $4.1) = 1.78XNo adjustment has been made for the take-or-paycontract, as it does not affect 1993 interest expense.Adjustments in future years will be based on theimplicit interest rate of 21%.c. Reasons for entering into off-balance-sheet obligations:1. Avoidance of or mitigation of the risk of violatingdebt covenant restrictions.2. Leased assets revert to lessor after eight years,limiting risk of obsolescence.3. Guarantee of Crockett's debt may lower interestcosts, increasing profitability of investment.4. Contract with PEPE secures source of supply andpossibly advantageous pricing.11-16d. Additional information needed for full evaluation:1. (Lease) Useful life of leased assets; conditionsunder which lease can be canceled; nature ofleased assets.2. (Guarantee) Financial condition of Crockett; bondcovenants.3. (Take-or-pay) Alternate sources of supply;quantity to be purchased relative to total needs;price provisions of contract.19.{L}a. As the table below indicates, the declining paymentassumption using a 92% declining rate (the averagerate over the first five years (2000 - 2004)) is agood approximation for JC Penney. The present value is$3,320; a deviation of one-half of one percent fromthe stated present value of $3,302. If the constantpayment assumption is made, the error is about fourpercent.11-17b. Using only the first year payment: Payment = $66 andcurrent portion = $16; therefore interest portion = $50 and interest rate = $50/$417 =12%.Using all payments:Constant payment assumption implies MLP’s of $54 from 2004 through 2017 and $12 in 2018. Equating this payment stream to $417 yields an IRR of 11.8%For the declining payment assumption, we would use a declining rate of 95%, the average of (2000 - 2004).Using this rate yields an IRR of 10.44%The rate seems to be between 10.4%-12%. Given that two of the methods yield estimates closer to the high end of the range, using a rate of approximately 11.5% would be an appropriate estimate.c. The rate used by Sears is somewhat higher than that ofJ.C. Penney. That may be a function of (1)higher credit rating for Penney, (2)differing risk characteristics of the leased properties, or (3) Sears leases were entered into in periods of higher interest rates.d. Given the rapid decline over the first four years, wechoose to use the declining payment assumption. Usinga decline rate of .86 (the average over the first fiveyears) and a discount rate of 11.5% (from part b), the present value of the operating leases is $1,375 million.11-1820.{M} Adjusting for the operating lease results in adeterioration of the ratios in each case.* Year 2000 MLP = $352. Interest portion is equal to 11.5% x $1,325 = $158; Therefore, current portion of debt = $352 -$158 = $194** Present Value of operating leases as calculated in Problem 19 part d.† Assumes interest this year (1999) is approximately equal to next year’s (2000) interest levels.Note: No adjustment is made for pretax income, which maybe higher or lower depending on the age” of the lease.The earlier (later) in the lease term, expense is higher(lower) for the capital lease. On average the expense isidentical.As we do not know the relative age of theleases we assume no change.11-1921.{S} Sears’ MDA reports securitized (credit card) balancessold of $6,579 and $6,626 million in 1999 and 1998respectively. Adjusting for these balances (in 1999)requires adding $6,579 to accounts receivable andcurrent liabilities (assuming the debt is short-term)and increasing CFO by ($6,626 – $6,579) $47 million. Asthe table below indicates, the impact on these threeratios is considerable.22.{S} The adjusted ratios are poorer than those based on Sears’reported data. The adjustment for securitization ofreceivables accounts for far more of the impact than theoperating leases.Note: See problems 11-19, 11-20, and 11-21 for explanation of these adjustments11-2023.{M}a. Using th e constant rate assumption (MLP’s of $59million from 2004 - 2017 and $8 million in 2018), theimplicit interest rate is 4.19%.Note that Texaco has not guaranteed all of this lease.The total present value of the guaranteed portion ofthe lease is approximately ($336/44%) $764 million.b. The rate is somewhat lower than the 5% - 5.5% ratecalculated for Texaco in the chapter (page 385).c. Equilon may have less debt (in relation to theirassets) than Texaco, or the nature of its business (orof the leased assets) may be operationally less risky.The leases may have been entered into when interestrates were especially low.Assets are higher because inventory is replaced with (higher) receivables because of the recognition of manufacturing profit. Assets remain higher throughout the lease term.Revenues are higher in Year 1 as the sales-type lease recognizes a sale whereas the operating lease method does not. In later years, interest revenue from the sales-type lease should be lower than lease revenue for the operating lease. This effect is more pronounced over time; in year 9, interest income is low given the small remaining receivable.The revenue effect increases the asset turnover ratio in the first year. But the revenue effect reduces turnover in the ninth year.11-21Expenses are higher in year 1 due to the recognition of cost of goods sold. In later years, there is no expense for the sales-type lease; the operating lease method reports depreciation expense in every year, however.Initial period income and income-related ratios are higher for the sales-type lease because the sale (and income) is recognized at the inception of the lease. In later years, however, income is higher for the operating lease.Income taxes paid are the same since the lease cannot be considered a completed sale for tax purposes.Cash from operations is higher for the first year due to recognition of the sale (the investment in the lease is classified as an investing cash outflow). In later years the operating lease method shows higher cash from operations as rental income exceeds the interest income recorded for the sales-type lease (income taxes paid are the same).[See Exhibit 11-8 and the accompanying text for further explanation of these effects.]25.{L}a. The present value of the minimum lease paymentsreceivable of $170,271 (at 10%, the lower of lesseeand lessor rates) is more than 90% of the fair marketvalue of $185,250. Therefore, the lessee, Baldes,should capitalize the lease. It would be useful toknow whether the lessee has guaranteed the residualvalue of the leased asset.b. Leased assets $ 170,271Long-term lease obligation 167,298Current portion of lease obligation 2,973Total lease obligation $ 170,271Note that there are no income or cash flow statementeffects at the inception of the lease.11-2211-23c. (i) Balance sheet effects of capital lease:No impact on balance sheet if operating lease method applied. [Deferred tax assets reflecting the difference between total expense under the two methods would also be reported.](ii) Income statement effects of capital lease:1Interest expense for: 2001 = .10 x $170,271 2002 = .10 x $167,298 2Deprecation expense = $170,271/20 for each yearThe income statement would show lease expense of $20,000 each year under the operating lease method.(iii) Statement of cash flow effects of capital lease:The operating lease method reports $20,000 cash outflow from operations for each year.。
财务会计第十一章财务报表-文档资料
资产负债表的结构及内容 资产负债表分析
一、资产负债表的结构和内容
结构 资产 流动资产 非流动资产 负债和所有者权益 流动资产 非流动资产 所有者权益
内容
资产
货币资金 应收票据
流 动 资 产
应收账款 预付账款 应收利息
其他应收款
存货 其他流动资产
可供出售金融资产
长期应收款 长期股权投资
有形净值总额=资产总额－除土地使用权外 的无形资产
利息保障倍数 =（税前利润+利息费用）/利息费用
一般来说，企业的利息保障倍数至少要大 于1，否则，就难以偿付债务及利息。
注意：
各财务分析指标本身其实并不重要，只有与 下面项目进行比较才具有解释意义： （1）前期比率（历史数据）； （2）预先确定的标准（预算数值、经验标准 数值或行业平均数值）； （3）竞争者的比率（同行业其他企业的数 值）。
该指标表示，平均投资一元钱每年的收益额
营运能力分析 应收账款周转率 =销售收入/应收账款平均余额
存货周转率 =销售成本/存货平均余额 =销售成本/（期初存货+期末存货）/2
资产周转率 =销售收入/平均总资产
表示企业资产的总体使用效率。周转速度 越快，企业资产的利用效果就越好，盈利能力 也越强。
负债比率越大，企业的财务风险越大。 资产负债率在60%-70%，比较合理、稳健。 达到85%以上时，企业应提起足够的注意。
产权比率 =负债总额/所有者权益总额 ×100%
一般来说，产权比率高是高风险、高报酬的 财务结构；产权比率低是低风险、低报酬的财 务结构。
有形净值债务率
会计学基础第十一章财务报表ppt课件
完整最新ppt
8
二、会计报告的作用
（一）为国家有关管理部门进行宏观经济 调控提供必要的信息；
（二）为投资者做投资决策，为债权人了 解企业资金运转情况、短期偿债能力和支 付能力提供必要的信息；
（三）为企业内部经营管理者进行日常经 营管理提供必要的信息资料。
完整最新ppt
9
三、财务报表列报的基本要求
反映企业的权益结构 和财务实力，有助于 分析、预测企业的财 务状况和财务风险
完整最新ppt
14
四、资产负债表的编制方法（1）
（一）年初数－上年的年 末数
（二）年末数－
1、根据总帐期末余额直 接填列－短期借款、应付 票据、应付利息、其他应 付款、应付职工薪酬、应 付股利、应交税费、实收 资本、资本公积、盈余公 积。
完整最新ppt
22
作用
（1）所有者权益总量的增减变动。 （2）所有者权益增减变动的重要结构性 信息。
（3）直接计入所有者权益的利得和损失。
营业利润+营业外收支净 额
利润总额－所得税费用
完整最新ppt
19
利润表的作用
分析与预测企业的经营成果和获利能力 有助于分析与预测企业的长期偿债能力 有助于考核管理人员的业绩
ห้องสมุดไป่ตู้
完整最新ppt
20
利润表的编制
本月数－本月实际发 生数
上年数－上年同期累 计发生数
本年累计数－自年初 起至报告期末止的累 计实际发生数
（一）列报基础：持续经营 （二）列报的一致性：各期间不能随意变更 （三）列报的重要性：金额和性质 （四）比较信息的列报：可比会计期间数据
（五）其他要求：抵销（两种特殊情况）、披 露内容、涵盖期间
第十一章行政单位财务报表解析
一、“年初各项资金结转结余”项目及其所属各 明细项目，反映行政单位本年初所有资金结转 结余的金额。
应当与上年度收入支出表中“年末各项资金结 转结余”中各明细项目的数额相等。
收入支出表年报的填列
二、“各项资金结转结余调整及变动”项目 及其所属各明细项目，反映行政单位因发 生需要调整以前年度各项资金结转结余的 事项，以及本年因调入、上缴或交回等导 致各项资金结转结余变动的金额。
预算会计
第十一章 行政单位财务报表
财务报表的概念及分类
财务报表是反映行政单位财务状况和预算执行结果等的书面文 件，由会计报表及其附注构成。会计报表包括资产负债表、收 入支出表、财政拨款收入支出表等。
资产负债表：反映行政单位在某一特定日期财务状况的报表。 应当按照资产、负债、净资产分类、分项列示。
?一年初各项资金结转结余?六年末各项资金结转结余财政拨款收入支出表年报项目年初财政拨款结转结余调整年初财政拨款结转结余归集调入或上缴单位内部调剂本年财政拨款收入本年财政拨款支出年末财政拨款结转结余结转结余结转结余结转结余一公共财政预算资金项目年初财政拨款结转结余调整年初财政拨款结转结余归集调入或上缴单位内部调剂本年财政拨款收入本年财政拨款支出年末财政拨款结转结余结转结余结转结余结转结余一公共财政预算资金一基本支出1
财务报表PPT
（应付性质）
正常 （应付性质）
教材P215 表11—2
应付账款－H企业
期末余额 100 000
反常 （预付性质）
应填入资产 负债表的 “应付账款”
项目 明细账
合计306 000
合计200 000
应填入资产负 债表的“预付
账款”项目
预付账款－E企业
期末余额 6 000
（应付性质） 反常
预付账款－D企业
年月
资产
期末 余额
流动资产 货币资金
交易性金融资产
应收票据 应收账款 预付款项 应收利息 应收股利 其他应收款 存货
一年内到期的非 流动资产
其他流动资产
流动资产合计
日
年初 余额
编制单位：
单位：元
负债或 所有者权益
流动负债： 短期借款 交易性金融负债 应付票据 应付账款 预收款项 应付职工薪酬 应交税费 应付利息 应付股利
1 会计报表
资产负债表
利பைடு நூலகம்表
会计报表：用以提供 会计信息的表格
（财务状况）
资产 负债 所有者权益
（经营成果）
收入 费用 利润
现金流量表
（现金流量）
现金流入 现金流出
所有者权益 变动表
（所有者权益）
权益增加
报表附注
权益减少
★会计报表附注
是会计报表的重 要组成部分
报表附注
报表附注
报表附注
2 会计报表附注
会计 记录
会计 报表
会计 信息
虚构的 交易或事
停
项
（二）时间要求 ●及时性要求：企业对于已经发生的交 易或者事项，应当及时进行会计确认、计 量和报表，不得提前或者延后。
第十一章财务报表
第十一章财务报表
1. 经营活动的现金流入量 P424 2. 经营活动的现金流出量 P424-
425
（二）投资活动产生的现金流量
投资活动的定义：投资活动是指 企业长期资产的购建和不包括在 现金等价物范围内的投资及其处 置活动。
（2）非流动性资产 P408 2. 负债 P409 （1）流动负债 P409
第十一章财务报表
（2） 非流动负债 3. 所有者权益 P409
三、资产负债表的编制方法 （一）一般项目的填制依据 根据总分类账户的期末余额填列 （二）需要分析计算调整的项目
1. “货币资金”项目 P409
第十一章财务报表
2. “应收账款”项目 P412
（三）筹资活动产生的现金流量各 项目的填列方法 P431-432 （四）汇率变动对现金及现金等价 物的影响项目的填列方法 P432 （五）现金及现金等价物净增加额 项目的填列方法 P432 （六）期末现金及现金等价物余额 项目的填列方法 P432 （七）补充资料 P433-435 （八）具体编第十制一章财务报P表 435-441
金流出量和现金流量净额的方
法。
第十一章财务报表
间接法是指以净利润为基础， 以非现金费用和债权债务以及 存货的变动额加以调整，结算 出现金流量净额的方法。
（一）经营活动产生的现金流量 各项目的填列方法 P428-430 （二）投资活动产生的现金流量 各项目的填列方法 P430-431
第十一章财务报表
第十一章财务报表
19. “应付账款”项目 20. “预收账款”项目 21. “一年内到期的非流动性负 债”项目 22. “其他流动负债”项目 23. “长期借款”项目 24. “应付债券”项目 25. “长期应付款”项目 26. “专项应付款”项目 27. “未分配第十利一章财润务报表”项目
第十一章财务报表
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第六节 附注
1 附注的性质和作用 2 附注的内容
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附注的性质和作用
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第一节 财务报表概述
1 财务报表的意义 2 财务报表的构成 3 财务报表的编制要求
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财务报表的编制要求（1/2）
以真实的交易、事项以及完整、准确的账簿记录 等资料为依据
遵循国家统一的会计准则规定的编制基础、编制 依据、编制原则和方法
在编制年度报表前 应当全面清查资产、核实债务 核对各会计账簿记录与会计凭证的内容、金额 是否一致，记账方向是否相符 应当按期结账
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第六节 所有者权益变动表
1 所有者权益变动表的性质和作用 2 所有者权益变动表的编制
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所有者权益变动表的编制
应当单独列示下列项目 当期净利润 直接计入所有者权益的利得和损失项目 会计政策变更和差错更正的累计影响金额 所有者投入资本和向所有者分配利润 提取盈余公积 实收资本,资本公积,盈余公积,未分配利润的期 初和期末余额及其调节情况.
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第二节 资产负债表
1 资产负债表的性质和作用 2 资产负债表上项目的分类与排列 3 资产负债表的格式 4 资产负债表的编制方法
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第二节 资产负债表
1 资产负债表的性质和作用 2 资产负债表上项目的分类与排列 3 资产负债表的格式 4 资产负债表的编制方法
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第一节 财务报表概述
1 财务报表的意义 2 财务报表的构成 3 财务报表的编制要求
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• 5、一年内到期的非流动负债是指在资产负债表日起，在下一个会计 年度准备偿还的长期负债，这一长期负债将从非流动负债栏下转入流 动负债栏下。
• 6、未分配利润属于利润分配的明细科目。
•
（P244-245）
第三节 财务报表的编制
• 二、利润表 • 编制说明： • 利润表是根据虚账户的本期发生额为基础来编制的。
经济业务
会计处理程序
财务报表
财务报告
确认
企业
计量
经济
记录
活动
报告
图 11-1
资产负债表 利润表
现金流量表 经济业务与财务报告
财务报表 报表附注 其他报告
一、企业经营活动与财务报表
经济业务
资产负债表
利润表
购进
产品 生产
买价 相关费用
人工 材料 其他
销售
存货
销售成本
图 11-2：企业购进、生产活动与会计信息处理系统
经营活动
销售成本 折旧、摊销费用
财务费用 管理及其他费用
资本成本
货币资产
投
投经
资
资营
应收款项
活
活活
动
动动
存货
长期资产及投资
负债
筹
筹
资
资
活
活
动
动
所有者权益
利润表
现金流量表
图 11-11：以目标为t导s向h的ib企r@业经jn济u活.动e与du会.计c信n息(0处2理0系8统5226057)
信息流 现金流
现金流量表 经营活动
一、企业经营活动与财务报表
经济业务
资产负债表
利润表
现金流量表
货币资金 销售
应收款项 图 11-3：企业销售活动与会计信息处理系统
营业收入
经营活动
一、企业经营活动与财务报表
经济业务
资产负债表
利润表
营业税金及附加
税务
应交税费
长期资产或存货*
所得税费用
*长期资产或存货属于资产负债表项目 图 11-4：企业税务与会计信息处理系统
现金流量表 经营活动
二、企业投资活动与财务报表
经济业务
资产负债表
利润表
现金流量表
折旧 买价 购进 相关费用
固定资产 人工
工程
材料
建设
其他
处置
*制造费用为资产负债表科目 图 11-5：长期资产购进及生产与会计信息处理系统
制造费用* 管理费用
营业外收支
投资活动
二、企业投资活动与财务报表
经济业务
资产负债表
• 2、存货由原材料、产成品(或库存商品)、在产品(生产成本)、周转材 料等组成。
• 3、一年内到期的非流动资产是指在资产负债表日起，在下一个会计 年度准备出售的长期资产，这一长期资产将从非流动资产栏下转入流 动资产栏下。
• 4、应收账款可以以净额列示，也可以先列总额，然后减去坏账准备 。类似的项目有所有计提减值准备的项目，如存货、固定资产等。固 定资产可以以净额列示，也可以先列原值，再减累计折旧。
资产
－
负债
＝
所有者权益 资产负债表 信息流 现金流
货币资产
经
经营活动②
投
投
营
资
资
应收款项
活
活
活
动
动
动
①
④
存货
③
销售成本
⑤
筹 资 活 动
⑤
长期资产及投资 负债
所有者权益
折旧、摊销费用
⑥
财务费用 筹 资
管理及其他费用 活 动
⑥
资本成本
现金流量表
收入
－
费用
＝
净利润
企业目标
利润表
收入
－
费用
＝
企业目标
净利润
资产
－
负债
＝
所有者权益 资产负债表
15
第二节 综合举例
• 例11-1（P231-233）
• 一、登记会计分录 • （P233-237）
• 二、登记“T”型账
• （P237-243）
• 三、编制试算表
•
（P243-244）
第三节 财务报表的编制
• 一、资产负债表
• 编制说明：
• 1、货币资金由现金、银行存款和其他货币资金组成。
经济业务
所有者 投入
资产负债表 实收资本(或股本)
利润表 经营 成果
净利润(或亏损)
利润分配(或股 利) *
利润 分配
*利润分配属于利润分配表或所有者权益变动项目 图 11-9：权益筹资与会计信息处理系统
现金流量表 筹资活动
第一节 企业经济活动与财务会计信息系统
• 上面我们是分类描述各项经济活动的会计信息处理过程， 下面我们通过一个总图来描述企业所有经济活动与企业三 张报表——资产负债表、利润表和现金流量表之间的关系 (图11-10)。
现金流量表
本章要点
• 认识企业经济活动同会计信息系统之间的 联系
• 掌握资产负债表的性质与编制 • 掌握利润表的性质与编制 • 掌握现金流量表的性质与编制
第一节 企业经济活动与财务会计信息系统
• 财务报表的编制是对企业经济活动的高度提炼、分类和汇 总，是综合反映企业某一特定日期财务状况、某一会计期 间的经营成果和现金流量的信息文件。从经济活动到财务 报表，经过会计的确认、计量、记录和报告等一系列的会 计信息处理过程(图11-1)。
回报
股权投资
图 11-7：对外投资与会计信息处理系统
现金流量表 投资活动
三、企业筹资活动与财务报表
经济业务
资产负债表
利润表
现金流量表
流动负债
利息支出
财务费用
借款
非流动负债
长期资产或存货*
*长期资产或存货属于资产负债表项目 图 11-8：债务筹资与会计信息处理系统
筹资活动
三、企业筹资活动与财务报表
会计学原.4
财务报表
第十一章 财务报表
企业经济活动与财务 会计信息系统
经营活动与财务报表 投资活动与财务报表 筹资活动与财务报表 企业经济活动与财务会计
信息系统
综合举例
登记会计分录 登记 T 型账 编制试算表
财务报表的编制
资产负债表 利润表
• 利润表通常分单步式或多步式，前者是将所有的收入减去 所有成本与费用来计算企业净利润；后者则是一步一步计 算企业净利润。表11-4就是按多步式来编制的利润表。按 多步式编制利润表可以提供更多的信息含量。
• 净利润另一个通俗的说法是底线(bottom line)，但底线项 目包括了营业外的收支项目，容易混淆企业的实际经营实 力。将营业利润单独列示，可以更准确了解企业经营能力
利润表
购进
买价
摊销
无形资产
相关费用
研究与开发
资本化 人工
无形资产
材料
处置
其他 费用化
*制造费用为资产负债表科目 图 11-6：无形资产购进及生产与会计信息处理系统
制造费用* 管理费用 营业外收支 管理费用
现金流量表 投资活动
二、企业投资活动与财务报表
经济业务
资产负债表
利润表
债券投资 投资
投资
投资损益
• 如果将图11-10转换成图11-11，我们会发现，后图(图1111)是一种更科学的生产与管理方式。企业的经营不是被 动地从生产开始的，而是从规划开始的，从设定企业目标 开始，然后去寻找市场和企业的销售目标，由销售来确定 生产计划等一系列的活动。
• 这两种生产方式既存在管理策略、生产观念上的差异，同 时在会计核算上也存在区别。