北大光华课件《财务报表分析》chap3.pptVIP

Income Statement (损益表） Revenues (销售收入） Cost of goods sold (COGS) （产品销售成本） = Gross Profit （毛利润） Expenses （费用） = Earnings Before Tax （税前收益） Tax （所得税） = Net Income （净收益） The purpose of firm is to earn income for investors through selling goods or providing services to customers. Income statement measures how much income is earned during a specific period, such as a year, a quarter, or a month. Outline of today’s lecture A typical income statement Definition of accounting period(会计期间）, Revenues, Expenses, Cost of Goods Sold, Earnings, and Net Income Cash accounting（收付实现制） and its inadequacies（不足） Accrual Accounting（权责发生制） and its strengths 4.1 Revenue recognition, matching principle and expense recognition（收入确认、配比原则和费用确认） 4.2 Adjusting journal entries（调整会计分录） 5. Expensing（费用化） versus capitalization （资产化）of expenditures 6. Relations between income statement and balance sheet 7. Time series and cross section analysis of income statement 8. Earnings management examples 9. P/E ratio（市盈率） and earnings-based market anomalies Definitions Ledger (T- Account) treatment of income statement accounts Revenues Gains Expenses (inc. COGS) Loss Dividends Cash Accounting Revenues: recognized at the time that cash is received Expenses: recognized at the time that cash is disbursed Note: Cash received from and disbursed （分发） to shareholders and creditors（债权人） is neither revenues nor expenses, and does not enter income statement under cash accounting An example: A toy retailer starts business on November 1, 19x0, He pays two months rent on his store, $2,000, on that day, and also purchases and pay for $35,000 toys. However, he sells nothing in November. In December, he sells all the toys with a sales price of $40,000 and collects $5,000 in cash Cash Accounting Income Statement Problems with Cash Accounting Mismatch the cost of efforts (expenses) with the output of the efforts (revenues) Delay recognition of revenues Provide opportunities to manage earnings Accrual Accounting