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雷达卡
Identify the sections of a classified statement of financial position
Identify and calculate ratios for analyzing a company\'s liquidity, solvency, and profitability
Describle the framework for the preparation and presentation of financial statements
Classification
assets -current assets investments PPE Intangible assets Goodwill
liabilities and sh\'s equity
current liabilities Non-current liabilities sh\'s equity -share capital retained earnings
current assets expected to be converted to cash or used in the business within one year or one operating cycle. cash/short-term investments/acc rec/merchandise inv/prepaid expenses
Non-current assets not expected
investments/ppe/intangible assets and goodwill/other assets
depreciation allocation of the cost of property,plant,and equipment over their estimated useful lives : companies systematically assign a portion of the cost of an asset to expense each year
Under IFRS depreciation for PPE amortization for intangible assets
Intangible assets: Non-current assets that do no have physical substance and represent a privilege or a right held by the company
current liabilities: obligations that are to be paid within the coming year or one operating cycle
Non-current liabilities: debts expected yo be paid or settled after one year
sh\'s equity
share capital - investment of cash(or other assets) in the company by shareholds in exchange for preferred or common shares
retained earnings - cumulative profits kept for use in the company
comparison: intracompany intercompany industry average
liquidity ratios: working capital = current assets - current liabilities current ratio =current assets/current liabilities
solvency ratios debt to total = total liabilities/ total assets
profitability ratios
earnings per share = profits available to common shareholders / weighted average number of common shares.
price-earning ratio = market price per share / earnings per share
conceptual framework of accounting
guides decisions about : what to present in financial statements / alternative ways of reporting economic events /appropriate ways of communicating this information
conceptual framework for financial reporting
-objective of financial reporting
-qualitative characteristics of useful financial info
-underlying assumptions
-elements of financial statements
-measurement of the elements of financial statements
Objective of financial reporting
To provide financial information that is useful to existing and potential investors, lenders and other creditors
Qualitative charateristics of accounting info : relevance. faithful representation
enhancing qualities of useful info
Comparability
Verifiablity
Timeliness
Understandability
cost constraint
going concern assumption
Elements of financial statements / assets, liabilities equity, revenues, expenses
GAAP principles that describe when and how the elements of financial statements should be recognized, measured and reported
historical cost /fair value
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