中外比较会计ch

1、Instructor: Limei He 何丽梅(Crystal)Major: Finance (Undergraduate) Accounting (graduate) Office hours: 9:00AM11:00AM, Monday; Room 202, NO.2 buildingE-mail: for business use Tel: 88802656l Harrison Horngren l Financial Accounting (Sixth Edition) l清华大学出版社清华大学出版社 2007 lJan R. Williams, Susan F. Haka, Mar

2、k S. Bettner, Accounting: The Basis for Business Decisions (14th Edition) 机械机械工业出版社工业出版社 2008年年9月出版月出版 lYou are familiar with accounting terminology. You can read, and prepare financial reports in English.( special accounts such as goodwill, estimated liabilities, pension, treasury stock, comprehens

3、ion income etc) lYou can read some articles on accounting in English(announcement made by foreign listed corporations, dissertation)lYou are familiar with some accounting rules and principles in other countries (International Harmonization)lTo improve your ability in communicating professionally in

4、English. (The first priority is English. The second priority is accounting.) Practice makes perfect! 1.The Field of Accounting 2.The objective, Assumptions and Principles 3. Accounting Procedures 4. Internal Control and Cash 5. Receivables 6.Inventories7. Plant assets8. Intangibles9. Short-term/curr

5、ent liabilities10.Long-term liabilities11.Stockholders equity 12.Financial Statement analysisl了解：Forms of business organization. l理解：Careers in accounting.l掌握：Some basic terminology; Different kinds of financial reports and their users.laccounting accountantlassetlliabilitylowners equityllisted comp

6、anieslpublicly held (owned) companiesldebit debtorlcredit creditorlincome tax lfinancial position loperating resultslfinancial accounting management accountinglAccounting is the information system that measures business activities, processes that information into reports, and communicates the result

7、s to decision makers l(language of business).lFinancial statements (managers, investors, major customers, labor unions, etc.)lTax returns(tax authorities, IRS Internal Revenue service)lManagerial data and reports (managers)lSpecial reports (governmental regulatory agencies) SEC-Securities and Exchan

8、ge CommissionlBalance sheet (solvency)-Statement of Financial PositionlIncome statement (profitability)lStatement of cash flowslStatement of retained earningslThe balance sheet lists all the entitys assets,liabilities,and owners equity as of a specific date,usually the end of a month or a year.It is

9、 also called the statement of financial position.lThe statement of cash flows reports the amount of cash coming in (cash receipts) and the amount of cash going out (cash payments or disbursements) during a period. Business activities result in a net cash inflow or a net out flow.The statement shows

10、the net increase or net decrease in cash during the period and the cash balance at the end of the period.lCash flows from operating activities;lCash flows from investing activities;lCash flows from financing activities;lNet increases(decreases) in cash.l: Institutional features 1) Standards for Prep

11、aration of Accounting Information-GAAP ( ) established by FASB and SEC2) Internal Control Structure3)Audits of Financial Statement4)Legislation(The Securities Laws; The 2002 Sarbanes-Oxley Act)lAICPA (American Institute of CPAs) ACCA (association of certified & corporate accountants)lIMA (Institute

12、of Management Accountants)lIIA (Institute of Internal Auditors)lAAA (American Accounting Association)lCPAslCMA (Certificate in Management Accounting)lCIA (Certificate in Internal Auditing )l1.public accountingl2.private ernmental accounting Public accounting firms (often called CPA f

13、irms) offer a variety of accounting services to the public.Accountants and their staff who provide services on a fee basis are said to be employed in public accounting.l1.auditing. An audit is a thorough investigation, in which the CPAs study the companys accounting records and gather other evidence

14、 regarding every item in the financial statements.lAfter the thorough investigation, the CPAs can express their professional opinion as to the fairness and reliability of the financial statements.After the thorough investigation, a CPA firm can express its professional opinion as to the fairness and

15、 reliability of the financial statement. There are 4 kinds of opinions in auditors reports.lUnqualified opinionlQualified opinionlDisclaimer of opinionlAdverse opinionl2. tax accountinglThe CPA is often called upon for “tax planning,” which will show how a future transaction such as the acquisition

16、of new equipment may be arranged in a manner that will hold income taxes to a minimum amount.The CPA is also retained to prepare the income tax returns(所得税申报表).l3.management advisory services (consulting). Such as to study the feasibility of introducing a new product linel4.small business serviceslS

17、uch as to prepare financial statements Big Fourl安达信 (http:/)l安永 (http:/ )l毕马威 (http:/ )l德勤 (http:/) l普华永道 (http:/) Accountants employed by a business firm or a not-for-profit organization are said to be engaged in private accounting.lDesign of accounting systemlManagement accounting lFinancial forec

18、astinglIncome tax accounting (large company)lInternal auditing lBookkeeping refers to the daily operation of an accounting system-recording and classifying routine transactions.It is just a skill.lAccounting is more than a skill-it is a profession.General MotorsAutomobiles, trucks, vansGeneral Mills

19、Breakfast cerealsBoeingJet aircraftNikeAthletic shoesCoca-ColaBeveragesSonyStereos, televisions, radiosTypes of BusinessesWal-MartGeneral merchandiseToys”R”UsToysBarnes & NobleBooksBest BuyConsumer electronicsAmazon. ComBooksTypes of BusinessesDisneyEntertainmentDelta Air LinesTransportationMarriott

20、 HotelsHospitality and lodgingMerrill LynchFinancial adviceSprintTelecommunicationTypes of BusinessesThere are three forms of business organizationsProprietorshipPartnershipCorporationA proprietorship is owned by one individual. Advantages Ease in organizing Low cost of organizingDisadvantage Limite

21、d source of financial resources Unlimited liabilityDougs A partnership is owned two or more individuals. Advantages More financial resources than a proprietorship. Additional management skills.Disadvantage Unlimited liability.Doug and Maxs Limited partnership (Ltd./LP.): general partners (at least one) limited partners (one or more ): responsible for the debts of the partnership up to th