Corporate Financial Reporting I - Student subdomain for …公司财务报告我的学生子域…
P2.Corporate reporting1
returns, the ability to use its power to affect the amount of the returns
Paper P1, Governance, Risk and Ethics, 50% Paper P2, Corporate Reporting, 49% Paper P3, Business Analysis, 48% Paper P4, Advanced Financial Management, 33% Paper P5, Advanced Performance Management, 33% Paper P6, Advanced Taxation, 44% Paper P7, Advanced Audit and Assurance, 32%
CopyRight 2013 By 周冬华 博士 CPA
6
Main capabilities
1. Discuss the professional and ethical duties of the accountant 2. Evaluate the financial reporting framework 3. Advise on and report the financial performance of entities 4. Prepare the financial statements of groups of entities in
CopyRight 2013 By 周冬华 博士 CPA 10
财务汇报英语作文
财务汇报英语作文Dear [Recipient's Name],Subject: Financial Report for [Company Name] - [Reporting Period]I am pleased to present the financial report for [Company Name] for the period ending [Reporting Date]. This report provides a comprehensive overview of our financial performance and highlights key financial metrics.Revenue and Profitability:Our total revenue for the period was [Total Revenue], which represents a [Percentage Increase/Decrease] compared to the same period last year. Our net profit stands at [Net Profit], indicating a [Percentage Increase/Decrease] year-over-year.Expenses:Operating expenses for the period amounted to [Total Operating Expenses]. This includes [List Major Expenses], which have increased/decreased by [Percentage] due to [Reasons for Change].Cash Flow:Our cash flow from operations was [Operating Cash Flow], while our cash flow from investing activities was [Investing Cash Flow]. Financing activities resulted in a cash flow of [Financing Cash Flow].Balance Sheet:As of [Reporting Date], our total assets were [Total Assets], with [Current Assets] in current assets and [Non-Current Assets] in non-current assets. Our liabilities totaled [Total Liabilities], and our equity stood at [Equity].Financial Ratios:Key financial ratios for the period include:- Current Ratio: [Current Ratio Value]- Debt to Equity Ratio: [Debt to Equity Ratio Value]- Return on Assets (ROA): [ROA Value]- Return on Equity (ROE): [ROE Value]Outlook:Looking forward, we are optimistic about our financial prospects. Our strategic initiatives, such as [List Strategic Initiatives], are expected to drive growth and profitability.Conclusion:In conclusion, [Company Name] has shown a robust financial performance during the reporting period. We remain committed to our financial goals and to delivering value to our shareholders.Please find attached the detailed financial statements for your review. Should you have any questions or require further information, do not hesitate to contact me.Best regards,[Your Name][Your Position] [Company Name] [Contact Information]。
英语财务报告
英语财务报告Financial Report in EnglishIntroductionA financial report in English is a crucial document that reflects the financial status of a company. This report provides information on how well the company has been functioning, its financial position, and how the company's financial resources have been used during a particular period. Such reports are critical to the company's stakeholders and must be presented in a clear and concise manner.Company OverviewIt is essential to begin the financial report with an overview of the company, including its name, location, and a brief history. This section should also contain information related to its core business operations and major products or services offered. Additionally, this section should include the company's management structure and shareholding patterns.Financial PerformanceThe financial performance of a company for a specific period is the most crucial part of the financial report. This section should cover details about the company's profit and loss accounts, balance sheets, and cash flow statements. These financial statements should be prepared in compliance with Generally Accepted Accounting Principles (GAAP). This section should also discuss the financial ratios used to evaluate the company's financial health, including liquidity, solvency, and profitability ratios.Capital StructureThe capital structure of the company reflects how the company has financed its operations. This section of the report should contain information about the company's capital structure, including the debt-equity mix, long-term borrowing sources, and any interest payments. This section should also cover details about what the company plans to do with its profits, i.e., issue dividends, reinvest the profits, or pay off loans.Risk FactorsAny potential risks that the company faces should also be mentioned in the report, along with recommendations for mitigating such risks. This section should also cover any legal or regulatory issues that may affect the company's financial status.ConclusionIn conclusion, an English financial report is an essential tool for stakeholders to evaluate a company's financial health. Therefore, it is essential to prepare it with utmost care, ensuring that the report is prepared in compliance with GAAP. A well-drafted and comprehensive report can provide stakeholders with future insights into the business and make sound financial decisions.。
述职报告公司财务工作述职报告范文
述职报告公司财务工作述职报告范文英文回答：Financial Performance Report。
Financial Management。
Over the past year, I have been working diligently to improve the company's financial performance. I am proud to report that we have made significant progress in a number of key areas.Increased revenue by 10% through a combination of organic growth and strategic acquisitions.Reduced operating expenses by 5% through cost-cutting measures and process improvements.Improved net income by 15% as a result of the above factors.These financial improvements have had a positive impact on the company's overall performance. Our stock price has increased by 20% since the beginning of the year, and we have been able to attract new investors. We have also been able to increase our dividend payout to shareholders.I am confident that we can continue to improve the company's financial performance in the years to come. We have a strong team of financial professionals in place, and we are committed to implementing sound financial practices.Internal Controls。
Issues in Financial Reporting
Overall
Business environment is dynamic.
The driving forces are:
- globalisation - extreme market pressures - advances in technology - knowledge economy - fraud - influence of management
External auditing
In order to understand - the work, problems and opinion
of the external auditors,
we need to appreciate - the scope and limitations of financial statements.
External auditing
‘Effective reporting and accounting, and external scrutiny (i.e., auditing) . . ., are essential for effective corporate governance
(Company Law Review Steering Committee, 2001, para. 8.1)
(in law) also rejects this Should be focussing on: - the reporting entity - communication of its performance and risk Question is: - How to judge an entity’s performance and risk?
ACCA12月考试P2公司报告最新考官总结 current issues
corporate reporting：current issuesRELEVANT TO acca quali fication PAPER P2One of the features of the Paper P2syllabus is a section on current issues.This is an area that can cover manydifferent areas，including：·recently issued or revised financial reporting standards·discussion papers and exposure drafts·recent developments in international harmonisation·Current business issues which impact financial reporting.The Paper P2 exam typically includes a question dealing with current issues as the final question on the paper. The problem facing students is that there are many current issues，and so it is difficult to know where to focus study efforts. This article does not try to cover every current issue in the world of corporate reporting，but instead provides some information on three of the 'hot topics' that arise from documents issued by the International Accounting Standards Board （IASB）.We will look at the issues of leasing，income tax and management commentary as these are all the subjects of examinable documents for exams in 2010.LeasesIn March 2009，the IASB and the FASB（Financial Accounting Standards Board- the source of US GAAP），published a discussion paper‘Leases：Preliminary Views’. This document is part of the IASB’s long-term convergence project，the aim of which is to eliminate a variety of differences between IFRS and US GAAP.The aim of the leases project is to develop a new single approach to lease accounting that would ensure that all assets and liabilities arising under lease arrangements are recognised in the statement of financial position （balance sheet）.The topic of lease accounting has been long debated，with many preparers and users of financial statements claiming that the current treatment under IAS 17，Leases is too subjective and can too easily result in off-balance sheet finance.The Discussion Paper is extremely significant，because it proposes a fundamental change in the way that leases are accounted for. It introduces the 'right-of-use' model，under which the lessee will recognise an asset and a liability for all leases entered into. This effectively eliminates the current category of an operating lease，and would ensure that all leases are treated in a consistent way. This change would have a massive impactin terms of financial reporting for the many companies who use operating leases within their business as all leases would now have to be recognised，with implications for measures such as return on capital employed and liquidity ratios.The accounting treatmen t is explained as follows. The asset represents the lessee’s right to use the leased item for the lease term （hence the term ‘right-ofuse’model）and the liability represents the obligation to pay rentals. The asset would be initially recognised at cost，with cost defined as 'the present value of the lease payments discounted using the lessee’s incremental borrowing rate. The asset would be amortised over the shorter of the lease term and the economic life of the asset，or if the lessee expects to obtain the title to the asset at the end of the lease term，over the economic life of the asset.The liability would be recognised initially at the same amount as the asset，ie‘the present value of the lease payments discounted using the lessee's incremental borrowing rate’. The liability would be subsequently amortised using an amortised cost-based approach.The Discussion Paper also includes proposals on more complex issues，such as renewal options，contingent rentals，and residual value guarantees. All of the proposals are focused on lessee accounting. It is thought that lessor accounting will be dealt with once the tentative proposals in the Discussion Paper have been fully considered by the IASB.To conclude on leases，if the proposals do eventually form the basis of a new financial reporting standard，it will be one of the most significant developments to arise from the IASB's convergence project. Having one method to account for all types of leases will go a long way to improve consistency and comparability，though some may argue that using one method for all types of lease is too simplistic. An Exposure Draft on leases is expected in the third quarter of 2010.Income taxIn March 2009，the IASB issued an Exposure Draft 'Income Tax. This exposure draft is also part o f the IASB’s long-term convergence project. The Exposure Draft is proposing to replace IAS 12，Income Taxes and is an examinable document for Paper P2 exams in 2010.The proposals retain the basic IAS 12 approach to accounting for deferred tax，known as the temporary difference approach. The objective of that approach is to recognise immediately the future tax consequences of past events and transactions. Although the proposals retain the same basic principle，the IASB intends to change the methodology used to calculate deferred tax，change some of the definitions，eliminate some recognition exceptions，and introduce guidance on dealing with uncertainties. In addition，the IASBproposes a changed structure for the standard that will make it easier to use. The proposals also more closely align with FASB Statement 109，Accounting for Income Taxes，though some differences may remain.A change in the methodology used to calculate deferred tax assets and liabilities is proposed. It would only be necessary to consider deferred tax in respect of assets and liabilities where the company expects the recovery or settlement of the carrying amount to affect taxable profit. For example，if a nil tax rate would apply to any taxable or deductible amounts，then no deferred tax arises，as there is no future tax consequence.A new definition for‘tax basis’（previously known as ‘tax base’）is proposed as‘the measurement，under applicable substantively enacted tax law，of an asset，liability or other item’.The definition is not very different from before，but the further guidance in the Exposure Draft makes an important point that the tax basis of an asset should be determined based on the assumption that an asset will be sold，and for liabilities on the assumption that the liability will be settled for its carrying amount.The topic of lease accounting has been long debated，with many preparers and users of financial statements claiming that the current treatment under IAS 17，Leases，is too subjective and can too easily result in off-balance sheet finance.The Exposure Draft proposes the elimination of recognition exceptions on initial recognition of assets and liabilities and for many investments. The current IAS 12 exception prohibits the recognition of deferred tax liabilities and assets in relation to temporary differences arising on the initial recognition of an asset or liability （other than in a business combination where the asset or liability does not impact accounting profit or taxable profit at the time of recognition）.The proposal could result in the recognition of deferred tax arising on the difference between the initial carrying amount of an asset or liability and its tax basis，even if the recognition is nothing to do with a business combination. It is therefore likely that many more balances recognised in the financial statements could result in an associated deferred tax asset or liability.New guidance has been included to help companies to account for uncertain tax positions. A probability weighted average amount of all possible outcomes should be calculated，based on the assumption that the tax authorities will review the amounts submitted and have full knowledge of all relevant information. Examples of the calculation are provided in the Exposure Draft. In conclusion，there are many detailed changes proposed in relation to the calculation and recognition of deferred tax，though the fundamental principle of comparing book values with tax bases in determining temporary differences remains unchanged.Management CommentaryMost large companies provide some kind of management commentary，which is published alongside the financial statements. The commentary could be known as an Operating and Financial Review （OFR），Business Review，Management's Discussion and Analysis（MD&A）or Man agement’s Report.Management commentary is therefore already an important means by which companies communicate with capital markets and with their stakeholders. In some jurisdictions there is already a framework to be used by companies in preparing management commentary，and indeed in some countries there are specific legal requirements regarding its content.In June 2009 the IASB published an Exposure Draft‘Management Commentary’ which proposes a framework for the preparation and presentation of management commentary to accompany financial statements that are prepared under IFRS. The intention is that the final document would have the status of a best practice framework. Following the framework would not be compulsory，and the framework could be adapted to the legal and economic circumstances of individual jurisdictions.The Exposure Draft states that the purpose of management commentary is to provide existing and potential capital providers with information that helps them place the related financial st atements in context. Management commentary should explain management’s view on not only what has happened，but also why management believes it has happened and what management believes the implications are for the entity's future. It should explain the main trends and factors that are likely to affect the entity's future performance，position and development. Consequently，management commentary looks not only at the present，but also at the past and the future.The IASB proposes that management commentary should contain information on the following：·the nature of the business·management’s objectives and strategies for meeting those objectives·the entity’s most significant resources，risks and relationships·the results of operations and prospects，andthe critical performance measures and indicators that management uses to evaluate the entity’s performance against stated objectives. The Exposure Draft provides detailed guidance as to the types of disclosures that would be relevant for each of the categoriesabove. In brief，there should be a mixture of narrative and numerical disclosures，and the performance measures should be both financial and non-financial in nature.Consistent reporting of performance measures and indicators increases the comparability of management commentary over time. However，as strategies and objectives changemanagement might decide that the performance measures and indicators presented in the previous period management commentary are no longer relevant. Therefore，the content of management commentary should be seen as something that continually evolves over time，to match with changes in the company itself. In conclusion，management commentary should supplement and complement the financial statements，include orientation to the future，and fairly present the views of management on the relationship between the financial statements and the company's strategies and objectives.Advi ce to studentsThis article has looked at three of the many current issues in corporate reporting. In the past few Paper P2 exams，current issues have been tested in the final question of the paper，using a mixture of requirements asking for narrative and numerical answers. Though the subject matter has not been covered in this article，I would recommend that students read Question 4 from the December 2009 session （this question was on complexity in the measurement of financial instruments and was based on the relevant Exposure Drafts on financial instruments），and from the June 2009 exam session （this question was on employee benefits and again based on the relevant Exposure Draft）.The papers can be downloaded from the student section of the ACCA’s website at www. /students/acca/exams/ p2/past_papers.I would also recommend further reading on the topics covered in this article. The documents can be downloaded from the IASB website at . Students should refer to the examinable documents published on the ACCA website for details of examinable exposure drafts and discussion papers.。
TheEconomicImplicationsofCorporateFinancialReporting.ppt
Why meet benchmarks? What if miss benchmarks?
theory matter to its validity – goal is “narrow predictive success”
5
Graham/Harvey/Rajgopal: Corporate Reporting
Methodology
Alternative view, Daniel Hausman (1992) • “No good way to know what to try when a
2
Graham/Harvey/Rajgopal: Corporate Reporting
Background
1. Graham and Harvey conduct a survey on capital structure and project evaluation
– “Theory and Practice of Corporate Finance: Evidence from the Field” appears in JFE 2001
3
Graham/Harvey/Rajgopal: Corporate Reporting
Methodology
General goals our research program: • To examine assumptions • To learn what people say they believe • To provide a complement to the usual research
Comparison to archival empirical work
Limitations to existing research include
财务实习报告模板英语
---Title: Financial Internship ReportAuthor: [Your Name]Company/Institution: [Company/Institution Name]Internship Duration: [Start Date] – [End Date]Supervisor: [Supervisor’s Name]Department: [Department Name]---Executive Summary:This report outlines my experience as a financial intern at[Company/Institution Name] from [Start Date] to [End Date]. During my internship, I was exposed to various aspects of financial management, including financial analysis, budgeting, and accounting. This report details the key tasks I performed, the skills I acquired, and the insights I gained from my internship.---Introduction:Financial management is a critical function in any organization, ensuring the efficient allocation and utilization of resources. As a financial intern at [Company/Institution Name], I was able to gain hands-on experience in this field, contributing to the company’s financial goals and objectives. This report aims to provide a comprehensive overview of my internship experience, highlighting the responsibilities I undertook, the challenges I faced, and the lessons I learned.---1. Internship Objectives:Upon commencing my internship, I set the following objectives:- To gain a comprehensive understanding of financial management practices in a corporate environment.- To develop practical skills in financial analysis, budgeting, and accounting.- To contribute to the financial planning and decision-making processes of the company.- To build professional relationships and enhance my communication and teamwork abilities.---2. Responsibilities and Tasks:During my internship, I was responsible for the following tasks:2.1 Financial Analysis:- Conducted financial analysis of the company’s performance using key financial ratios and metrics.- Analyzed financial statements to identify trends, strengths, and areas of improvement.- Prepared reports summarizing financial analysis findings and recommendations.2.2 Budgeting:- Assisted in the preparation and monitoring of departmental budgets.- Analyzed historical financial data to forecast future expenses and revenues.- Collaborated with team members to ensure budget compliance andidentify cost-saving opportunities.2.3 Accounting:- Assisted in the preparation of monthly financial statements and balance sheets.- Ensured accuracy and completeness of accounting records.- Supported the audit process by providing necessary documentation and explanations.2.4 Special Projects:- Participated in a project to optimize the company’s cash flow management.- Conducted research on industry trends and best practices in financial management.- Developed a financial model to assess the impact of potential business decisions.---3. Skills and Competencies Developed:My internship at [Company/Institution Name] provided me with the opportunity to develop and enhance the following skills and competencies:- Financial Analysis: I gained proficiency in analyzing financial data and interpreting the results to make informed decisions.- Budgeting: I learned how to create and manage budgets, ensuring that financial resources are allocated effectively.- Accounting: I improved my understanding of accounting principles and practices, enhancing my ability to prepare financial statements and records.- Communication: I honed my communication skills by collaborating with team members and presenting my findings to senior management.- Problem-Solving: I developed problem-solving skills by identifying issues and proposing solutions to improve the company’s financ ial performance.---4. Challenges and Lessons Learned:Throughout my internship, I encountered several challenges:- Data Analysis: Initially, I found it challenging to interpret complex financial data. However, with guidance from my supervisor and continuous practice, I was able to improve my analytical skills.- Communication: As a new intern, I struggled with effectively communicating my ideas and findings to my colleagues. I learned the importance of clarity and conciseness in my communication.- Time Management: Balancing multiple tasks and meeting deadlines was challenging. I developed better time management skills by prioritizing my tasks and setting realistic goals.The following lessons were particularly valuable:- Continuous Learning: The financial field is constantly evolving, andit is essential to stay updated with the latest trends and best practices.- Teamwork: Collaboration is key to achieving common goals. I learned the importance of working effectively with team members to achieve success.- Adaptability: The ability to adapt to new situations and challenges is crucial in the financial industry.---5. Contributions to the Organization:During my internship, I made the following contributions to[Company/Institution Name]:- Financial Analysis: My financial analysis reports provided valuable insights into the company’s performance, helping to identify areas for improvement.- Budgeting: I assisted in creating a more efficient budgeting process, leading to better financial planning and resource allocation.- Accounting: My attention to detail and accuracy in preparing financial statements contributed to the overall integrity of the company’s financial records.---Conclusion:My internship at [Company/Institution Name] was a valuable and rewarding experience. I gained a comprehensive understanding of financial management practices and developed essential skills that will serve me well in my future career. I am grateful for the opportunity to work with such a talented and supportive team and for the knowledge and experience I gained during my time at the company.---Recommendation for Future Opportunities:I would highly recommend [Company/Institution Name] as a place for students seeking to gain practical experience in financial management. The company offers a supportive environment, where interns can learn and grow while contributing to the organization’s success.---Appendices:- List of tasks performed during the internship- Financial analysis reports- Budgeting models- Letters of recommendation---End of Report。
财务汇报英语作文带翻译
Case Study: Company XYZ's International Expansion
Company XYZ, a multinational corporation, decided to expand its operations into the Chinese market. As part of its regulatory requirements, the company had to translate its financial reports from English to Chinese to comply with local regulations and communicate effectively with Chinese stakeholders.
P2.Corporatereporting课程8
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
7. Contingent Liabilities • disclose unless the possibility of an
• only genuine obligations are dealt with in the financial statements
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
2. Recognition of a Provision • Provision: A liability of uncertain timing or amount.
IAS 37 Provisions, Contingent Liabilities and Contingent Assets
6. Restructuring（重组）
• Sale of operation: accrue provision only after a binding sale agreement.
Chapter 8 IAS 37
Songjingjin
Session contents
• IAS 10 Events after the reporting period
• IAS 37 Provisions, Contingent Liabilities and Contingent Assets
• Determine the substance of the complex transactions
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➢ Members/ appoint ➢ Shareholders
report
Independent Auditors
delegate
report
Board of Directors
monitor
9
The rôle of Financial Reporting
➢ Financial Reporting is an important element of this system, being a key part of the process by which Directors meet its accountability requirements.
4
Making it up
➢ No limited liability: shareholders = creditors
➢ Purpose:
To assess solvency Maintain capital
➢ Drawback:
No proper accounting policies Very flexible approach to drafting balance
➢ This supported a traditional financial accounting framework, which included:
➢ An early emphasis on the balance sheet ➢ Asset measurement at historical cost ➢ Prudence in the reporting of income and expenses ➢ Realisation with respect to the recognition of income ➢ The calculation of profit (for capital maintenance purposes) via the
➢ It does not help in assessing whether business activities were appropriate (i.e. commercially justifiable)
➢ It will not necessarily help in predicting the future, and
Keep proper books of account Balance them periodically Present balance sheet to shareholders at each meeting Auditors appointed by shareholders to report on balance sheet Accounts filed with Registrar
➢ Financial reporting is the means by which the board of directors ‘reports’ to the owners, with independent auditing ‘monitoring’ on the ‘truth and fairness’ of those reports.
➢ The agency problem occurs whenever ➢ (a) it is difficult or expensive for one party to evaluate the
performance of the other, and ➢ (b) the motives of the parties to an exchange may be different, such
Articles of association Requirements of internal accounting records Format for balance sheet Audit requirements – true & fair view Consolidated into first Companies Act 1862.
that each has an incentive to act in a different or incompatible way. ➢ The factors that make it difficult or expensive to evaluate the
performance of the other party are due to the existence of uncertainty in environmental, organizational, or task conditions. ➢ The parties have incentives to act differently because they have different risk preferences, or because they may have different propensities to act opportunistically
sheets
5
The modern corporation
➢ Limited liability Act 1855 ➢ Companies could incorporate with limited liability ➢ Needed to make public the fact by “Limited” ➢ Further legal moves ➢ 1856 Joint Stock Companies Act ➢ Repealed accounting requirements of 1844 Act ➢ But introduced:
➢ Growth of huge infrastructure projects of 1700s and 1800s ➢ Growth of “Deed of settlement companies” ➢ Unregulated until 1844 Joint Stock Companies Act ➢ Companies required to register with Registrar of Companies ➢ New companies could be incorporated by registration ➢ Legal requirements to:
➢ Development of commerce ➢ Need to attract investment ➢ Pre-requisites:
Security of investment Income stream from investment
3
Stimulus and Response
➢ Prior to 1844 formation of companies via Royal Charter or Act of Parliament
2
The Art of Practical Accounting
➢ Accounting or Financial Reporting is a practical discipline
➢ It has developed in response to practical problems
➢ Napier – History of Financial Reporting in the United Kingdom
➢ Managing internal corporate entrepreneurship: an agency theory perspective ➢ Jones & Butler, Journal of Management Dec. 1992
8Hale Waihona Puke Development of the System
matching of income and expenses ➢ Traditionally, also this system has been either lightly or self-
regulated.
11
Not quite what it says on the tin
➢ There may, however, be some problems with a stewardship emphasis to accounting:
➢ It provides no information with respect to the valuation of assets and the business
framework of UK financial reporting and the historical context of current financial reporting requirements. ➢ Learning outcomes: ➢ After the lecture and recommended reading students should be able to: ➢ Describe the UK system of corporate governance and the discuss the role of financial reporting therein ➢ State and discuss various arguments in favour and against the regulation of this system and of financial reporting ➢ Outline problems that the UK system of corporate governance has faced ➢ Discuss generally the development of financial reporting from 1844 to the 1990s