北美财务报告（英文 ）

标签：公司财务制度,财务制度范本,
OutlineofPresentation-1
Rolesofstandardsettingbodies(FASBCICA)ManagersAuditorsandSuppliersofCapital(InvestorsandCreditorsorlenders)[SeeDiagram]
InformationEconomicsApproachandEfficiencyofcapitalmarkets
WorldComEnronandArthurAndersen
IncentivesofManagementtoManageEarnings
OutlineofPresentation-2
Stepstopreventscandalsfromoccurringinthefuture?
SomeEthicalPrinciples
AnEthicalCase
Questionsregardingpresentationoranyother(accounting)questions.
InformationEconomicsApproach
InformationAsymmetryexistsbetweenthepartiesinbusinesstransactions.Themanagers(agents)havemoreinformationthantheinvestors(principals).
Managersmayattempttoselectpoliciesortoreleasebiasedinformationthatbenefitthemselvestotheexpenseoftheowners.
RoleofAccounting:toprovideinformationusefulforrationaldecision-making.
DecisionUsefulnessApproach
Section1000ofCICAHandbook(par.1000.15):
Theobjectiveoffinancialstatementsistocommunicateinformationthatisusefultoinvestorsmemberscontributorscreditorsandotherusers…inmakingtheirresourceallocationdecisionsand/orassessingmanagementstewardship.
ObjectivesofFinancialStatements
StatementsofFinancialAccountingConcepts(1978)(SFAC1):
Toprovideinformationthatisusefultopresentandpotentialinvestorsandcreditorsandotherusersinmakingrationalinvestmentcreditandsimilardecisions.
Toprovideinformationtohelppresentandpotentialinvestorsandcreditorsinassessingtheamountstiminganduncertaintyofprospectivecashreceiptsfromdividendsorinterest.
RelevanceandReliability
Tobeusefulaccountinginformationshouldprovideaninformativeinformationsystemthatlinkscurrentfinancialstatementswithfuturestaterealizationsandpayoffs.
AccountinginformationshouldberelevantI.e.hasthecapacitytoaffectinvestors’beliefsaboutfuturereturns.
Accountinginformationshouldbereliablei.e.shouldfaithfullyrepresentswhatitpurportstomeasure.Itshouldbepreciseandfreefrombias.
ElementsofFinancialStatements
Assets:Probablefutureeconomicbenefitsobtainedorcontrolledasaresultofpasttransactions.
Liabilities:Probablefuturesacrificesofeconomicbenefits
Owner’sEquity:residualInterestinassetsafterdeductingliabilitiesi.e.A=L+O.E.orO.E=A–L.
Revenues:inflowsofassets(orsettlementofliabilities)arisingfromtheentity’smajororongoingactivities.
AccountingPrinciples-1
HistoricalCostPrinciplei.e.recognise(recordandreport)assetsandliabilitiesinitiallyatthecash-equivalentcost.
RevenueRecognitionPrinciplei.e.recogniserevenueswhenearned(earningprocessiscompleteandanexchangehastakenplace).Allnecessarycostshavebeenincurredandcollectionisassured–usuallyatpointatsale.
AccountingPrinciples-2
MatchingPrinciplei.e.recogniseallexpensesincurredinproducingrevenuesinthesameperiodastherevenues.
FullDisclosurePrinciplei.e.discloseallrelevantinformation.
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