chpt3.ppt

Chapter 3: Interpreting Financial Statements Financial Statements Review Financial Statements Provide: current and historical information to owners and creditors a convenient way for owners and creditors to set performance targets a convenient standard template for financial planning Chapter 3 Contents 3.1 Functions of Financial Statements 3.2 International Differences in Accounting 3.3 Market values v. Book Values 3.4 Accounting v. Economic Measures of Income 3.5 Return on Shareholders v. Return on Equity 3.6 Analysis Using Financial Ratios 3.7 The Financial Planning Process 3.8 Constructing a Financial Planning Model 3.9 Growth the Need for External Financing 3.10 Working Capital Mgnt. 3.11 Liquidity Cash Mgnt. 3.1 Functions of Financial Statements Financial Statements: Provide information to the owners creditors of a firm about the current status and past performance Provide a convenient way for owners creditors to set performance targets to impose restrictions of the managers of the firm Provide a convenient templates for financial planning The Balance Sheet资产负债表 Summarizes a firms assets（资产）, liabilities（负债）, and owner’s equity（所有者权益） at a moment in time Amounts measured at historical values and historical exchange rates Prepared according to GAAP, Generally Accepted Accounting Principles GAAP modified occasionally by the Financial Accounting Standards Board Exchange-listed companies must comply with Securities and Exchange Commission (SEC) rules The Balance Sheet Major Divisions: Assets Current assets (less than a year) Long-term assets (longer than a year Depreciation（折旧） Liabilities and Stockholder’s Equity Liabilities Current Liabilities Long-term debt Equity The Balance Sheet 公认会计准则包括：1、会计主体是企业而非企业所有者。2、会计主体是持续经营下去的。3、只能用货币计量企业的各项经营活动。4、各项交易按市价发生时的成本（历史成本计算）5、权责发生制：收入的实现以是否提供服务和产品销售为准，而不是以收到款项为准。6、收入与费用相配比的原则。7、提供充分的信息使报表的使用者不被误导。8、尽量少计或不计可能发生的收益，充分估计可能发生的费用。 The Balance Sheet 反映企业某一时点全部资产、负债和所有者权益的报表。 基本关系式为：资产=负债+所有者权益 会计的流动性：资产变现的方便和快捷程度。资产的流动性越