财务会计 第一章the financial statements

Copyright©2010PearsonEducationCanada1-1TheFinancialStatementsChapter1Copyright©2010PearsonEducationCanada1-2LearningObjective1Useaccountingvocabulary.Copyright©2010PearsonEducationCanada1-3AccountingLanguageAccountingisaninformationsystemthat:•Measuresbusinessactivities•Processdataintoreports(financialstatements)•CommunicatesresultstodecisionmakersCopyright©2010PearsonEducationCanada1-4AccountingLanguageFinancialStatements:FinancialinformationaboutabusinessentitythatispreparedinasystematicreportformatthatcanbeusedbydecisionmakerstomakedecisionsIncomeStatementBalanceSheetStatementofCashFlowCopyright©2010PearsonEducationCanada1-5TheFlowofAccountingInformation3.Businessesreporttheirresults.2.Businesstransactionsoccur.1.Peoplemakedecisions.Copyright©2010PearsonEducationCanada1-6IndividualsUsersofFinancialStatementsInvestorsandcreditorsGovernmentregulatoryagenciesNon-profitorganizationsTaxAuthoritiesCopyright©2010PearsonEducationCanada1-7FinancialAccountingSummarizebusinesstransactionsofbusinessentityforaspecifiedperiodUsersExternaldecisionmakersInformationmust:BepresentedinsystematicreportsmeetGAAPstandardsforrelevanceandreliabilityCopyright©2010PearsonEducationCanada1-8ManagementAccountingFinancialandoperatingdataaboutanorganization’sactivities,processes,operatingunitsproductsservicesandcustomersUsers-internaldecisionmakersInformation-cangeneratedusingassumptions-Futureoriented-notgovernedbyGAAPCopyright©2010PearsonEducationCanada1-9EthicsinAccountingInformationmustbe:1.RelevantInformationhaspredictiveorfeedbackvalueCaninfluenceadecisionTimely2.ReliableInformationisverifiableInformationmustbeobjectiveCopyright©2010PearsonEducationCanada1-10EthicsinAccountingIntegrityisbuiltinfinancialaccountingasfollows:Generallyacceptedaccountingprinciples(GAAP)AuditsoffinancialstatementsSecuritiescommissionsInternalControlStructureAccountingStandardsBoardoftheCanadianInstituteofCharteredAccountantsCopyright©2010PearsonEducationCanada1-11EthicsinAccountingandBusinessStandardsofprofessionalconductforaccountantsSelf-regulatingbodiesofaccountantsCICACGAACSMACCopyright©2010PearsonEducationCanada1-12ProprietorshipsPartnershipsCorporationsHowtoOrganizeaBusinessCopyright©2010PearsonEducationCanada1-13CorporationsStocksShareholdersCanadianBusinessCorporationActBoardofDirectorsChiefOperatingOfficers,Presidents,ManagersCopyright©2010PearsonEducationCanada1-14HowtoDoAccounting:PrinciplesandConceptsTherulesthatgovernaccountingarecalledGAAP(generallyacceptedaccountingprinciples).Accountantsfollowprofessionalguidelines.Copyright©2010PearsonEducationCanada1-15GAAPCICAHandbook:officialsourceofGAAP;sanctionedbyfederalandprovincialgovernmentsandtheCanadianSecuritiesAdministratorsAccountingStandardsBoard(AcSB)PublicSectorAccountingStandardsBoardEmergingIssuesCommittee(EIC)InternationalAccountingStandardsBoard(IASB)Copyright©2010PearsonEducationCanada1-16InternationalAccountingStandardsBoard(IASB)IASBischargedwithsettingInternationalFinancialReportingStandards(IFRSs)CanadianGAAPwillconvergewithIFRSs1styearforreportingunderIFRS-basedstandardswillbe2011Copyright©2010PearsonEducationCanada1-17LearningObjective2Learnaccountingconceptsandprinciples.Copyright©2010PearsonEducationCanada1-18ConceptualFrameworkInformationmustbeusefulfordecisionmakersRelevanceReliabilityComparabilityUnderstandabilityGAAPCopyright©2010PearsonEducationCanada1-19GAAPRequirementsforFinancialInformationGAAPrequires:businessentityconceptcostprinciplegoingconcernassumptionobjectivityprincipleadequatedisclosurestabledollarassumptionCopyright©2010PearsonEducationCanada1-20TheBusinessEntityConceptAnaccountingentityisanorganizationthatstandsapartasaseparateeconomicunit.Copyright©2010PearsonEducationCanada1-21Assetsandservicesacquiredshouldberecordedattheiractual(historical)cost.TheCostPrincipleCopyright©2010PearsonEducationCanada1-22TheGoing-ConcernConceptTheentitywillcontinuetooperateintheforeseeablefuture.Copyright©2010PearsonEducationCanada1-23(1)areverifiableand(2)canbeconfirmedbyanindependentobserver.TheObjectivityPrincipleCopyright©2010PearsonEducationCanada1-24AdequateDisclosureFinancialstatementsshouldbeaccompaniedbyanyinformationnecessaryforthestatementstobeinterpretedproperly.Copyright©2010PearsonEducationCanada1-25TheStable-Monetary-UnitConceptThedollar’spurchasingpowerisrelativelystable.Copyright©2010PearsonEducationCanada1-26LearningObjective3Applytheaccountingequationtobusinessorganizations.Copyright©2010PearsonEducationCanada1-27TheAccountingEquationCopyright©2010PearsonEducationCanada1-28TheAccountingEquationAssetsOwners’EquityLiabilitiesAssets=Liabilities+Owners’EquityCopyright©2010PearsonEducationCanada1-29TheAccountingEquationAssetsaretheeconomicresourcesofabusinessthatareexpectedtoproduceabenefitinthefuture.Liabilitiesare“outsiderclaims”oreconomicobligationspayabletooutsiders.Owners’equityrepresentsthe“insiderclaims”ofabusiness.Copyright©2010PearsonEducationCanada1-30TheAccountingEquationForacorporation,shareholders’equityisdividedintotwomaincategories.Con