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Unit8Shareholder’sEquityLearningobjectivesRecognisethekeycomponents(成分)ofequityDistinguishordinaryshareandpreferredshareUnderstandtherevaluationsurplusandreserveAccountforshareissueanddividendsDistinguishcashdividendsandbonusissuePreparethestatementofchangesinequityConceptofShareholders’EquityWhatisShareholder’sEquity?Assets–liabilities=Shareholder’sEquityNetAssetsShareholder’sequityisaresidualamount---what’sleftoveraftercreditorclaimshavebeensubtracted(减去)fromassets(inotherwords,netassets)sourcesofShareholders’Equity1.Investbyshareholders2.EarningbythecorporationPaidincapitalRetainedearning资本公积(未实现的利得和损失)(已经实现的利得和损失)Shareholder’sequityShareholders'equityconsistsof:(a)Sharecapital,whichisparvalueofissuedcapital.Itconsistsofbothordinarysharesandpreferenceshares.(b)Othercomponentsofequity.Sharepremium资本溢价Revaluationsurplus重估增值Reserves公积金Retainedearnings保留盈余OrdinarysharesandpreferredsharesOrdinarysharesarenotpreferredwithregardtodividendpayments.Thusaholderonlyreceivesadividendafterfixeddividendshavebeenpaidtopreferenceshareholders.普通股在股利支付方面没有优先权。普通股股东仅能收到支付优先股股东的固定股利后的那部分股利。Preferredsharesareshareswhichgivecertainpreferentialrightstothoseofordinaryshares.优先股是指相对于普通股而言,对持有者赋予部分优先权的股份。OrdinaryshareOrdinaryshareholdersaretheeffectiveownersofacompany.Thus,ordinaryshareholdersaresometimesreferredtoas“equityshareholders”.Ordinaryshareshavefollowingcharacteristics:TheycanparticipateinAnnualGeneralMeeting(AGM)andvote.Theydonothaveanyfixedrateofreturnsuchasdividend.However,theyareentitledtoaprofitsleftafterpaymentofanypreferreddividend.Theygetlowerprioritythanpreferenceshareholdersincaseofdividend.Preferenceshareholdershavefollowingcharacteristics:TheydonotusuallyparticipateinAGMandvote.Preferenceshareholdershaveahigherpriorityifacompanyisliquidatedthanordinaryshareholders,althoughalowerprioritythandebtholders.DebtholderspreferenceshareholderordinaryshareholdersTherateofreturntothemisfixed.Preferencesharescarrytherighttoafinaldividendwhichisexpressedasapercentageoftheirparvalue.E.g.a5%$1preferencesharecarriesarighttoanannualdividendof5c.Preferenceshareholdersareinmanywaysmorelikecreditorsofthecompany,althoughlegallytheyarenotcreditors.Sharepremium资本溢价Thedifferencebetweentheissuepriceoftheshareanditsparvalue.Theaccountissometimescalledcapitalpaid-ininexcessofparvalue.资本溢价是指股票发行价与面之间的差异。此账户也被称为超过面值的实收资本。Thedifferencebetweencashreceivedbythecompanyandtheparvalueofthenewsharesissuedistransferredtothesharepremiumaccount.Sharepremium资本溢价Thesharepremiumaccountcannotbedistributedasdividendunderanycircumstances.Theimportanceforcreatingsuchnon-distributablereservesistomaintainthecapitalofthecompany.Sharepremiumaccountgenerallyisn’tusedforanythingotherthananassuranceofcreditors(债权人保障)becausetheliabilityofshareholdersislimitedintheeventthatthecompanycannotrepayitsdebts.Revaluationsurplus重估增值Theresultofanupwardrevaluationofnon-currentassetsisarevaluationsurplus.Thisnon-distributableasitrepresentsunrealisedprofitsontherevaluedasset.Noteveryincreaseinvalueisaddedtotherevaluationreserve,andtheexacttreatmentdependsonthehistoryoftheasset:inparticularwhetherithasbeenimpaired.Whereitreversesapreviousimpairment,anysurplusinexcessoftheamountoftheimpairmentisaddedtotherevaluationreserve.Reserves公积Thetermreserveismostcommonlyusedtodescribeanypartofshareholders’equity,exceptforbasicsharecapital.Itisanappropriationofdistributableprofitsforaspecificpurpose.Sometimes,thetermisusedinsteadofthetermprovisionasaliabilityorallowancesfordepreciation.Reserves-classificationsa)Statutoryreserves,whicharereserveswhichacompanyisrequiredtosetupbylawandarenotavailableforthedistributionofdividends.Therearegenerallyrestrictionsonuseoramounttowardsstatutoryreservesinsomecountries.a)Non-statutoryreserves,consistingofprofitswhicharedistributabledividends,ifthecompanysowishes.Reserves-classificationsE.g.acompanyhasanetprofitbeforetaxof$500,000withbalancecarrieddownfrompreviousyearsof$100,000.corporationtaxisexpectedtobe$200,000.$10,000istobetransferredtoageneralreserve;$20,000istobepaidasanordinarydividendand$30,000asapreferencedividend.TheProfitAndLossAppropriation损益分配willbeshownasfollows:Reserves-classifications$’000$’000Netprofitfortheyear500Corporationtax200Profitaftertax300AppropriationsOfProfitDividend:preference30ordinary20Transfertoreserve1060Retainedprofitfortheyear240Profit&Lossaccountb/d100Profit&Lossaccountc/d340Retainedearnings保留盈余Retainedearningsareprofitsearnedbythecompanyandnotappropriatedbydividends,taxationortransfertoanotherreserveaccount.Itisthemostsignificantreserveandisvariouslydescribedas:RetainedearningsRetainedprofits/lossesUndistributed/unappropriatedprofitsRetainedearnings保留盈余Whenacompanygeneratesaprofit,managementhasoneoftwochoices:Theycaneitherdistributetheprofittoshareholdersasadividend;Orretaintheearningsandreinvesttheminthebusiness.Retainedearningsandlossesarecumulativefromyeartoyearwithlossesoffsettingearnings.Dividends股利Dividendsarepaymentsmadebyacorporationtoitsshareholders.Itistheportionofprofitsdistributedtostockholde
本文标题:Unit8-Shareholders-equity
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