(本科）會計專業(yè)英語教案Chapter7(本科）會計專業(yè)英語教案Chapter7(本科）會計專業(yè)英語教案Chapter7教學(xué)目標知識目標：Understandthemainelementsoffinancialstatements能力目標:Describethecontentofeachfinancialstatements.Describethecomponentsthatsupplementthefinancialstatementsinanannualreport.素質(zhì)目標：Understandhowaccountinginformationisusedandwhyitisimportant.教學(xué)重點Understandhowaccountinginformationisusedandwhyitisimportant.教學(xué)難點Understandhowaccountinginformationisusedandwhyitisimportant.教學(xué)手段結(jié)合理論與案例小組討論教學(xué)學(xué)時4課時教學(xué)內(nèi)容與教學(xué)過程設(shè)計注釋Chapter7IntroductiontoFinancialstatements〖理論知識〗Topic1:AnOverviewofFinancialStatementFinancialstatementsforbusinessusuallyincludeincomestatements,balancesheets,statementsofretainedearningsandcashflows.Itisstandardpracticeforbusinessestopresentfinancialstatementsthatadheretogenerallyacceptedaccountingprinciples(GAAP)tomaintaincontinuityofinformationandpresentationacrossinternationalborders.Financialstatementsareoftenauditedbygovernmentagencies,accountantsorfirmstoensureaccuracyandfortax,financingandinvesting.Themainobjectiveoffinancialreportingistoprovideusefulfinancialinformationtoacompany’sexistingandpotentialexternal-capitalproviders.Theprimaryusersoffinancialreportingareinvestors,lendersandothercreditproviders;theotherusersincludemanagementofthecompany,governmentandotherstakeholders.Topic2:BalanceSheetDefinitionAbalancesheetprovidesinsightintoafirm'ssolvency,emphasizingcorporateassets,liabilitiesandnetworth.Networth,orequitycapital,equalstotalassetsminustotalliabilities.Analyzingcorporatestatementsoffinancialconditionrequiresanalyticaldexterityandaknackforidentifyingeconomicfactorsthatimproveacompany'ssuccessinthemarketplace.2.Contentofbalancesheet(1)AssetsCorporateassetsareeconomicresourcesthatacompanyreliesontooperate.Accountantsseparateassetsintofivecategories:currentassets,long-terminvestments,fixedassetsor"property,plantandequipment,"intangibleresourcesandotherassets.(2)LiabilitiesLiabilitiesaredebtsthatafirmmustrepay.Debtsalsocanbenon-monetaryobligationsthatacompanymusthonorontime,especiallyifitprovidesafinancialguaranteeinaborrowingagreementonbehalfofathirdparty.(3)EquityCapitalEquitycapitalconsistsofinvestmentsthatcorporateownersmakeinacompany.Buyersofequityareotherwiseknownasshareholders,equityholdersorstockholders.Topic3:IncomeStatement1.DefinitionAnincomestatementisafinancialstatementthatreportsacompany'sfinancialperformanceoveraspecificaccountingperiod.Financialperformanceisassessedbygivingasummaryofhowthebusinessincursitsrevenuesandexpensesthroughbothoperatingandnon-operatingactivities.Italsoshowsthenetprofitorlossincurredoveraspecificaccountingperiod.2.UtilityofIncomeStatementAnalystsusetheincomestatementfordatatocalculatefinancialratiossuchasreturnonequity(ROE),returnonassets(ROA),grossprofit,operatingprofit,earningsbeforeinterestandtaxes(EBIT),andearningsbeforeinteresttaxesandamortization(EBITDA).Theincomestatementisoftenpresentedinacommon-sizedformat,whichprovideseachlineitemontheincomestatementasapercentofsales.Inthisway,analystscaneasilyseewhichexpensesmakeupthelargestportionofsales.Analystsalsousetheincomestatementtocompareyear-over-year(YOY)andquarter-over-quarter(QOQ)performance.Theincomestatementtypicallyprovidestwotothreeyearsofhistoricaldataforcomparison.Topic4:StatementofRetainedEarnings1.DefinitionAstatementofretainedearningsisafinancialstatementoutliningthechangesinretainedearningsforaspecifiedperiod.Thestatementispreparedinaccordancewithgenerallyacceptedaccountingprinciples(GAAP).Itreconcilesthebeginningandendingretainedearningsfortheperiod,usinginformationsuchasnetincomefromtheotherfinancialstatements.2.RetainedEarningsRetainedearningsrefertoanyprofitsmadebyanorganizationthatitdecidestokeepforinternaluse.Thesefundsmayalsobereferredtoasretainedprofit,accumulatedearningsoraccumulatedretainedearnings.Often,theseretainedfundsareusedtomakepaymentonanydebtobligations,orarereinvestedintothecompanytopromotegrowthanddevelopment.Topic5:StatementofCashFlows1.DefinitionAcashflowstatementisoneofthequarterlyfinancialreportspubliclytradedcompaniesarerequiredtodisclosetothepublic.Thedocumentprovidesaggregatedataregardingallcashinflowsacompanyreceivesfromitsongoingoperationsandexternalinvestmentsources,aswellasallcashoutflowsthatpayforbusinessactivitiesandinvestmentsduringagivenquarter.2.CashFlowsfromOperationsThefirstsetofcashflowtransactionsisfromoperationalbusinessactivities.Cashflowsfromoperationsstartwithnetincomeandthenreconcileallnoncashitemstocashitemswithinbusinessoperations.3.CashFlowsfromInvestingCashflowsfrominvestingactivitiesincludecashspentonproperty,plantandequipment.Thisiswhereanalystslooktofindchangesincapitalexpenditures(CAPEX).4.CashFlowsfromFinancingCashflowsfromfinancingisthelastbusinessactivitydetailedonthecashflowstatement.Thesectionprovidesanoverviewofcashusedinbusinessfinancing.Analystsusethecashflowsfromfinancingsectiontofindtheamountpaidoutindividendsorsharebuybacks.Topic6:NotesandOtherDisclosuresNotestoFinancialStatementsNotestothefinancialstatementpresentallsuchinformationwhichcannotbepresentedonthefaceofincomestatement,balancesheet,statementofcashflowsandstatementofchangesinequity.Typicalnotestothefinancialstatementare:Anintroductionofthebusinessoutliningitslegalstatus,itscountryofincorporationandthenameofitsparentsifanyandastatementaboutthecompany'sareasofbusinessanditsoperations.Asummaryofaccountingpoliciesrelatedtorevenuerecognition,inventories,property,plantandequipment,financialinstruments,etc.Ascheduleofpropertyplantandequipmentshowingtheadditionanddeletionofassets,relatedmovementintheaccumulateddepreciationaccountandbookvalue.Abreakupofcostofsales,sellingexpensesandadministrativeexpenses.Adetaileddisclosureofdifferentclassesoffinancialinstrumentsandtheirrelatedrisks.Abreakupofthegrossamountsandpresentvaluesofleaseobligationsofthebusiness.Adetailoftransactionswithrelatedparties.Adetailofcontingenciesthatmayaffectthebusinessinfuture,forexamplelegalproceedingsagainstthebusiness.Adescriptionofmajoreventsthatoccurredafterthebalancesheetdate,etc.ManagementDiscussionandAnalysisThemanagementdiscussionandanalysis(MD&A)sectionpresentsmanagement’sviewsonthecompany’sabilitytopaynear-termobligations,itsabilitytofundoperationsandexpansion,anditsresultsofoperations.Managementmusthighlightfavorableorunfavorabletrendsandidentifysignificanteventsanduncertaintiesthataffectthesethreefactors.Thisdiscussionobviouslyinvolvesanumberofsubjectiveestimatesandopinions.3.Auditor’sReportAnauditor’sreportispreparedbyanindependentoutsideauditor.Itstatestheauditor’sopinionastothefairnessofthepresentationofthefinancialpositionandresultsofoperationsandtheirco