CFA I级 财报分析笔记-3

复式记账 Double Entry的原理

1. Asset = Liability + Equity
2. Equity = Contributed Capital + Retained Earning + OCI
3. 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

1. FASB和IASB是private sector，没有执法权
2. SEC和FSA才有执法权

SEC重要的几张报表

1. 10-K年报
2. 10-Q季报
3. 8-K重大事项

IASB基础框架

1. 目的：提供决策有用
2. 定性特征(fundamental characteristics)有两点：

• Relevance(Predictive value,Materiality)
• Faithful representation（complete, Neutral and Free from error）

3. 特征（characteristic）有四点，用于增强前面两点：

• Comparability
• Verifiability
• Timeliness
• Understandability

4. Performance

• Income
• Expenses
• Capital maintenance adjustments
• Past cash flows

5. Financial Position

• Assets
• Liabilities
• Equity

6. Constraint

• Cost (cost/benefit consideration)

7. 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

1. 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

2. Measurement