会计学原理Chpter01.pptVIP

Financial Statements and Business Decisions Chapter 1 Understanding the Business Understanding the Business Understanding the Business The Business Operations The Accounting System The Accounting System Learning Objectives The Four Basic Financial Statements The Four Basic Financial Statements The Balance Sheet Revenues Revenues Expenses Expenses Statement of Retained Earnings Statement of Cash Flows Relationship Among the Financial Statements Relationship Among the Financial Statements Relationship Among the Financial Statements Notes Price/Earnings Ratio Learning Objectives Responsibilities for the Accounting Communication Process Effective communication means that the recipient understands what the sender intends to convey. How are Generally Accepted Accounting Principles Determined? Generally Accepted Accounting Principles (GAAP) Generally Accepted Accounting Principles (GAAP) The Equivalents in China SEC: CSRC (China Securities Regulatory Commission, 中国证券监督管理委员会，证监会) FASB: CICPA (Chinese Institute of Certified Public Accountants，中国注册会计师协会) International Perspective Learning Objectives Ethics, Reputation, and Legal Liability The American Institute of Certified Public Accountants requires that all members adhere to a professional code of ethics. Ethics, Reputation, and Legal Liability How about a real life example? Warning: real life is messy! Microsoft Corporation 2008 Annual Report End of Chapter 1 Summary Because revenues reported do not always equal cash collected. . . . . . and expenses reported do not always equal cash paid . . . net income is usually not equal to the change in cash for the period. 1. Name of entity 2. Title of statement 3. Specific period of time (Like the income statement, this statement covers a specified period of time.) 4. Unit of measure The Statement of Cash Flows reports the inflows and outflows of cash during the period in the categories of operating, investing, and financing. Cash fl