中財chapter12選擇題會出到精選課件

1、第一章第二章是選擇題會出到重點就是講IASB簡介，和概念框架。第1頁，共20頁。The objective of financial reporting places most emphasis on:reporting to capital providers.reporting on viding specific guidance related to specific viding information to individuals who are experts in the field.Review Question 第一個要知道我

2、們提供信息的重點是什么。Objective of Financial AccountingLO 4 Identify the objectives of financial reporting.第2頁，共20頁。Two Major Organizations: 這是國際準則，也就是我們這個課本所準從的準則。International Accounting Standards Board (IASB)Issues International Financial Reporting Standards (IFRS).Standards used on most foreign exchanges.

3、 Standards used by foreign companies listing on U.S. securities exchanges. IFRS used in over 115 countries.LO 5 Identify the major policy-setting bodies and their role in the standard-setting process.Standard-Setting Organizations第3頁，共20頁。Two Major Organizations: 美國的準則Financial Accounting Standards

4、Board (FASB)Issues Statements of Financial Accounting Standards (SFAS).Required for all U.S.-based companies. LO 5 Identify the major policy-setting bodies and their role in the standard-setting process.Standard-Setting Organizations第4頁，共20頁。What the public thinks accountants should do vs. what acco

5、untants think they can do.Financial Reporting ChallengesThe Expectations Gap 這是外行人覺得我們會計該干嘛的與我們實際會怎么做的區(qū)別。LO 7 Describe the challenges facing financial reporting.Significant Financial Reporting Issues我們提供會計信息的考慮到的一些要素。Non-financial measurementsForward-looking informationSort assetsTimeliness第5頁，共20頁。

6、LO 5 Identify the major policy-setting bodies and their role in the standard-setting process.Standard-Setting OrganizationsIllustration 1-4International Standard-Setting Structure這是國際準則制定機構的4個組成部分，大家有個印象就好。第6頁，共20頁。Due ProcessIllustration 1-4International Standard-Setting Structure IASB的如何制定出或修改其準則的

7、步驟。LO 5 Identify the major policy-setting bodies and their role in the standard-setting process.第7頁，共20頁。IFRS is comprised of: IFRS的組成部分，這個要好好看看。International Financial Reporting Standards and FASB financial reporting standards.International Financial Reporting Standards, International Accounting St

8、andards, and international accounting interpretations.International Accounting Standards and international accounting interpretations.FASB financial reporting standards and International Accounting Standards.Review QuestionTypes of PronouncementsLO 6 Explain the meaning of IFRS.第8頁，共20頁。The expectat

9、ions gap is: 這是比較重要的一個概念what financial information management provides and what users want.what the public thinks accountants should do and what accountants think they can do.what the governmental agencies want from standard-setting and what the standard-setters provide.what the users of financial s

10、tatements want from the government and what is provided.Review QuestionFinancial Reporting ChallengesLO 7 Describe the challenges facing financial reporting.第9頁，共20頁。The fact that there are differences between IFRS and U.S. GAAP should not be surprising because standard-setters have developed standa

11、rds in response to different user needs. IFRS tends to be simpler and more flexible in its accounting and disclosure requirements.The U.S. SEC recently eliminated the need for foreign companies that trade shares in U.S. markets to reconcile their accounting with U.S. GAAP. IASB和FASB的總體趨勢是趨同的。記住這一點就行

12、。第10頁，共20頁。ASSUMPTIONSEconomic entityGoing concernMonetary unitPeriodicityAccrualPRINCIPLESMeasurementRevenue recognitionExpense recognitionFull disclosureCONSTRAINTSCostMaterialityOBJECTIVEProvide information about the reportingentity that is usefulto present and potentialequity investors,lenders,

13、and othercreditors in theircapacity as capitalProviders.ELEMENTSAssetsLiabilitiesEquityIncomeExpensesIllustration 2-7 Framework for Financial ReportingFirst levelSecond levelThird levelQUALITATIVE CHARACTERISTICSFundamental qualitiesEnhancing qualitiesBasic ElementsLO 4第二章重中之重的，記住這個倒三角，按例子來記憶，從第一層到第

14、三層。第11頁，共20頁?！癟o provide financial information about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors in making decisions in their capacity as capital providers.”First Level: Basic ObjectiveLO 3 Understand the objectives of financial reporti

15、ng.OBJECTIVEProvided by issuing general-purpose financial statements.Assumption is that users have reasonable knowledge of business and financial accounting matters to understand the information. 第12頁，共20頁。Illustration 2-2 Hierarchy of Accounting QualitiesSecond Level: Fundamental ConceptsLO 4 Ident

16、ify the qualitative characteristics of accounting information.第13頁，共20頁。Second Level: Basic ElementsLO 5 Define the basic elements of financial statements.第14頁，共20頁。Second Level: Basic ElementsExercise 2-4: Identify the qualitative characteristic(s) to be used given the information provided. 根據(jù)例題去記憶

17、每個概念。Qualitative characteristic being employed when companies in the same industry are using the same accounting principles.Quality of information that confirms users earlier expectations.Imperative for providing comparisons of a company from period to period.Ignores the economic consequences of a s

18、tandard or rule.LO 5CharacteristicsRelevanceFaithful representationPredictive valueConfirmatory valueNeutralityCompletenessTimeliness VerifiabilityUnderstandabilityComparability第15頁，共20頁。Second Level: Basic ElementsExercise 2-4: Identify the qualitative characteristic(s) to be used given the informa

19、tion provided.Requires a high degree of consensus among individuals on a given measurement.Predictive value is an ingredient of this fundamental quality of information.Qualitative characteristics that enhance both relevance and faithful representation.LO 5CharacteristicsRelevanceFaithful representat

20、ionPredictive valueConfirmatory valueNeutralityCompletenessTimeliness VerifiabilityUnderstandabilityComparability第16頁，共20頁。Third Level: Recognition, Measurement, and Disclosure ConceptsThese concepts explain how companies should recognize, measure, and report financial elements and events.ASSUMPTION

21、SEconomic entityGoing concernMonetary unitPeriodicityAccrualPRINCIPLESMeasurementRevenue recognitionExpense recognitionFull disclosureCONSTRAINTSCostMaterialityLO 6 Describe the basic assumptions of accounting.Recognition, Measurement, and Disclosure ConceptsIllustration 2-7 Framework for Financial Reporting第17頁，共20頁。某些比較容易混淆的概念revenue and expense recog