andAnalysis(财务报表分析,台湾中兴大学).pptxVIP

2CHAPTERFinancial Reporting and AnalysisMcGraw-Hill/Irwin? 2004 The McGraw-Hill Companies, Inc., All Rights Reserved. Financial Reporting EnvironmentRegulators????FASBAICPAIndustry PracticesGAAPEnforcement and Monitoring MechanismsSECCorporate GovernanceManagersAuditorsStatutory Financial Reports(Financial Statements)Alternative Information SourcesEconomy and Industry InformationVoluntary Disclosure UsersAnalystsInvestors and CreditorsOther UsersLitigation???????????????????????????????????????? Form 10-K (Annual Report)10-Q(Quarterly Report)OtherSEC Filings14-A(Proxy Statement/ Prospectus)Statutory Financial Reports8-K(Current Report)20-F (Registration Statement/Annual Report [Foreign]) Earnings Announcements? Key summary measures (pre-audit) ? Often one to six week lag? Informative to market? Lacks supporting financial details Environmental FactorsGAAPGenerally Accepted Accounting PrinciplesLevel I (Most authoritative) Level II Level III Level IV (Least authoritative) FASBStandards andInterpretationsAPBOpinionsAICPA(CAP)Accounting Research BulletinsFASBTechnical BulletinsAICPAIndustry Audit Accounting GuidelinesAICPAStatement of PositionAICPAPractice BulletinsFASBEmerging Issues Task ForceFASBImplementation GuidesAICPAInterpretationsRecognized and Widely Used Industry Practices Environmental FactorsFinancial Accounting Standards BoardGenerally Accepted Accounting PrinciplesProvide input to Help set Securities and Exchange CommissionUnions InvestorsAccountantsPoliticians Lenders OthersAICPA Environmental FactorsSecurities and Exchange Commission (SEC)? Independent, quasi-judicial government agency? Administer securities regulations disclosures? Can modify set GAAP, if necessary ? Rarely directly challenges FASB? Major player in global accounting Environmental FactorsInternational Accounting Standards (IAS)? Set by International Accounting Standards Board? Not currently accepted in U.S. ? SEC under pressure to accept IAS Environmental Factors