第1节-会计信息与资本市场介绍.pptVIP

When I was a student…北大28楼222 Guohua Jiang (姜国华） When you think of accountants, what image comes up to your mind? The Father of Accounting-Luca Pacioli (1445-1517) He wrote a famous mathematics book In one chapter he invented double-entry accounting system He taught Leonardo Da Vinci perspective and proportionality. The knowledge was used to paint “the Last Supper” Dow Jones Industrial Average 1930-2002 DJIA, NASDAQ 1990-2002 Back to Square One: DJIA 1998-2002 D or Dot.bomb-NASDAQ 1998-2002 The Three Major Stock Exchanges The Regulator of U.S. Stock Market SEC, the Securities and Exchange Commission Arthur Levitt, commissioner, 1993-2000 in the Clinton administration Numbers Game Speech, 1998 The current SEC commissioners Who issue American Accounting Standards FASB: Financial Accounting Standards Board Set up in 1973 to replace Accounting Principle Board (APB) An independent, private organization Standards issued recognized by SEC GAAP: Generally Accepted Accounting Standards 7 concept statements (principles) e.g., No. 7 (February 2000) Using cash flow information and present value in accounting measurements 148 statements of standards (rules) e.g., No. 1 (December 1973) Disclosure of foreign currency translation information International Accounting Standards International Accounting Standards Committee (IASC) Based at London Independent and privately funded Meant to design a set of worldly accepted accounting standards Mr. Shuping Feng from Chinese Accounting Standard Committee serve as an advisory board member .uk International Accounting Standards 41 standards up to date e.g., IAS 2. Inventory, January 1, 1995 “Big Four” International Accounting Firms Ernst Young (worldwide revenue 2002: $10.1 billions, 4.3 billions in the U.S.) PriceWaterhouseCoopers Deloitte Touche KPMG Arthur Anderson (oops!) Auditor Opinions Unqualified “Unqualified” opinion is actually good opinion, confused? I was. Qualified Disclaimer of opi