财务管理英语chapter3.pptVIP

Chapter 3 Interpreting financial statements Basics of Annual Reports and Financial Statements Basics of Annual Reports and Financial Statements Employees are worried about whether the firm can meet future pension. Manager ----the most important user reason: using data from the statements to make decisions. to determine incentives and rewards to allocate capital investment in firm’s segment or divisions The Income Statement Non-Cash Items Depreciation (折旧费用) is the most apparent. No firm ever writes a check for “depreciation.” Another non-cash item is deferred taxes (递延所得税 ), which does not represent a cash flow. Thus, net income is not cash. Statement of retained earnings Analysis on table 3-3 p35 1-* New words scrutinize 详细检查 review评论 principal 本金 aggregate 使为总体loan 贷款 audit 查账 Obligation 义务 prospect 预期 Pension 退休金 convention惯例 Depreciate贬值、折旧 fiscal 财政的 New words Snapshot大致印象 disposal 去除 Equivalent等值物 receipt 收据 money order 汇票 disburse支出、划拨 Expense 支出 withdraw取款 Surplus 剩余 deduct扣除、减去 Understate少说、少计 contribute捐赠 It is important to stakeholders of the firm Lenders assess the likelihood of repaying Equity investors assess the profitability Suppliers assess whether the obligations can be paid on time Customers are concerned with the viability(both the new product and the goods they purchased) Anyway ,financial statements are probably the most important source of information,because various stakeholders can assess a firm’s financial health. Whereas,it is not easy to assess a firm’s real financial status discussion :why is it difficult? Corporate annual reports The guidelines used to prepare and maintain financial records and reports are generally accepted accounting principles (GAAP) (用于准备与维持财务记录及报告的指导方针是公认会计准则(GAPP)). Annual Report (年报