复式记账 Double Entry的原理
- Asset = Liability + Equity
- Equity = Contributed Capital + Retained Earning + OCI
- R/E = Revenue - Expense - Div Declared
So:
A = L + Capital + revenue - expense
Asset + Expense = Capital + Revenue + Liability
So:
资产和费用的增加记借方(Credit)，减少记贷方(Debt)；所有者权益、负债和收入的增加记贷方，减少记借方。
权责发生制 (Accrual accounting)
记账方式分为 权责发生制(Accrual Base)和现金收付制(Cash Base)
| Item | Assets | Liability | Revenue | Expense | Equity |
|---|---|---|---|---|---|
| Unearned revenue | 1 | 1 | |||
| Accrued revenue | 1 | 1 | 1 | ||
| Prepaid expenses | 11 | ||||
| Accrued expenses | 1 | 1 | 1 |
Standard-setting bodies and regulatory authorities
- FASB和IASB是private sector，没有执法权
- SEC和FSA才有执法权
SEC重要的几张报表
- 10-K年报
- 10-Q季报
- 8-K重大事项
IASB基础框架
- 目的：提供决策有用
- 定性特征(fundamental characteristics)有两点：
- Relevance(Predictive value,Materiality)
- Faithful representation（complete, Neutral and Free from error）
- 特征（characteristic）有四点，用于增强前面两点：
- Comparability
- Verifiability
- Timeliness
- Understandability
- Performance
- Income
- Expenses
- Capital maintenance adjustments
- Past cash flows
- Financial Position
- Assets
- Liabilities
- Equity
- Constraint
- Cost (cost/benefit consideration)
- Underlying assumption
- Accrual basis 权责发生制
- Going concern 持续经营
IASB general requirements
General Features
- Fair presentation
- Going concern
- Accrual basis
- Materiality and aggregation(相同的放一起，不同的要分开)
- No offsetting(资产和负债不能抵，收入和费用不能抵)
- Frequency of reporting（至少是年度报告）
- Comparative information
- Consistency of presentation
Effective Financial reporting framework
- Transparency
- Comprehensive
- Consistency
Barriers to coherent
- Valuation
- IFRS是Principes-based approach 原则（对法官要求高）
- U.S.GAAP是Rules-based approach 条文(条文容易出现漏洞)，现在倾向于结合原则观，是objectives-oriented approach
- Measurement
