格拉斯哥大学运营管理教材.pptVIP

FINANCIAL INFORMATION MANAGEMENT Session 2012-13 Lecture 1 Admin information Christopher Coles Christopher.Coles@Glasgow.ac.uk Room 469, Accounting and Finance Textbook Lectures Tutorials Exam How this course proceeds It’s fast paced and very intensive. It requires a lot of hard work. You need to do a lot of reading. Three aspects of accounting and finance; financial accounting, management accounting, financial management. Reading for today; pages 20-22, 32-47, 57-71, 85, and 90-96. Financial accounting This is where information on an entity’s performance is given in the form of a Statement of Financial Position Statement of Comprehensive Income Statement of Changes in Equity Statement of Cash Flows Notes to the accounts. It’s very much post hoc Financial accounting You should all be aware of the principal user groups of accounting information. You should also, by now, have realised that accounting information is not numbers – it is about people, and is for people. So the ASSUMPTIONS which undergird accounting, together with the PRINCIPLES and ENHANCING CHARACTERISTICS are fundamental topics for our studies. Financial Accounting These ASSUMPTIONS comprise GOING CONCERN and ACCRUALS. What’s so special about these? And what does “accruals” mean? Accounting information must have RELEVANCE and must be a FAITHFUL REPRESENTATION (previously, this was termed “Reliability”). Financial Accounting So what do these characteristics encompass? PREDICTIVE QUALITY TIMELINESS MATERIALITY CONSERVATISM Financial Accounting Understandability Objectivity Verifiability Comparability Consistency Completeness Substance over form But not ACCURACY! Financial Accounting What is the main statement? It’s the STATEMENT OF FINANCIAL POSITION (see pp35-45). You don’t need to be able to draw up an SFP (traditionally known as a BALANCE SHEET) for FIM PGT, but you DO NEED to know the principal components of an SFP and you MUST know the ACCOUNTING EQUATION. The SFP is a “snapshot” at a point