北美財務(wù)報告ppt課件-展示頁
2024-11-12 18:17本頁面
【正文】 financial statements with future state realizations and payoffs. ? Accounting information should be relevant . has the capacity to affect investors‘ beliefs about future returns. ? Accounting information should be reliable . should faithfully represents what it purports to measure. It should be precise and free from bias. 8 Elements of Financial Statements ? Assets: Probable future economic benefits obtained or controlled as a result of past transactions. ? Liabilities: Probable future sacrifices of economic benefits ? Owner‘s Equity: residual Interest in assets after deducting liabilities . A= L + . or = A – L. ? Revenues: inflows of assets (or settlement of liabilities) arising from the entity‘s major or ongoing activities. 9 Accounting Principles 1 ? Historical Cost Principle . recognise (record and report) assets and liabilities initially at the cashequivalent cost. ? Revenue Recognition Principle . recognise revenues when earned (earning process is plete and an exchange has taken place ). All necessary costs have been incurred and collection is assured – usually at point at sale. 10 Accounting Principles 2 ? Matching Principle . recognise all expenses incurred in producing revenues in the same period as the revenues. ? Full Disclosure Principle . disclose all relevant information. 11 LAN’S CLOTHING COMPANY ? Invest 10,000 Yuans (Y) to start the business ? Buy 1000 shirts at 5 Y each. ? Pay wages of 1000 Y for the first month. ? Sell 400 shirts at 20 Y each. ? Pay rent of 600 Y for the first 6 months. ? Incurred miscellaneous expenses of 500 Y. ? Borrowed 4800 Y and bought a truck. Truck will last for 4 years. ? What is my ine for first month? Lan’s Clothing Net Ine for first month ? Net Ine before taxes = Revenues – Expenses = 400 X 20 (sales) 400 X 5(cost of shirts sold) – 1000(wages expense) – 600/6 (rent for one month) – 500 (miscellaneous expenses) 4800/48 (amortisation expense for 1 month) = 4,300 Yua
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