会计英语chaper省公共课一等奖全国赛课获奖课件.pptx

CHAPTER 2THEORETICAL FRAMEWORKUNDERLIYING FINANCIAL ACCOUNTING第1页Learning ObjectivesnKnow the conceptual framework for financial reportingnUnderstand the qualitative characteristics of accounting informationnDescribe the elements of financial statementsnUnderstand the basic assumptions and the basic principles of accounting nKnow the accounting regulation system in China第2页Accounting theorynWhat does accounting theory consist of?nWhere do they come from?第3页Nature of a Theoretical FrameworknA theoretical framework or conceptual framework is a coherent system of interrelated objectives and fundamentals that can lead to consistent standards and that prescribes the nature,function,and limits of financial accounting and financial statements.第4页nRole of conceptual framework nStructure of conceptual framework qAccounting assumptions 会计假设会计假设qAccounting principles 会计标准会计标准第5页First Level:Basic Objectives第6页Second Level:Fundamental ConceptsnQualitative characteristics of accounting information nElements of financial statementsnRecognition 确认确认nMeasurement 计量计量第7页Second Level:Fundamental ConceptsnQualitative Characteristics of Accounting InformationqFigure 2-2 in P16qHierarchy 等级制度等级制度qPervasive 普遍普遍qThreshold 门槛、起点、开端门槛、起点、开端qCriterion 评判标准、尺度评判标准、尺度第8页nElements of Financial Statementsqassetsqliabilitiesqequityqrevenueqexpensesqnet income(or net loss)第9页Third Level:Recognition and Measurement ConceptsnBasic assumptionsnBasic principles nConstraints第10页Each economic unit is an entity and must be kept separate and distinct from its owners,creditors,and other entities.Accounting Entity Assumption 第11页The business will remain in operation in the foreseeable future.Going Concern Assumption第12页All transactions should be measured in money form.It implies the stable-money-unit assumption.It makes the information reliable&comparable.Money Unit Assumption第13页 The life of business should be divided into short ones of equal length.It makes it easier to make financial statements and satisfies theaccounting information users need ofknowing the current conditions of the business.Periodicity Assumption第14页Questions:n1.()are the preconditions of identifying,measuring,recording and reporting economic transactions.n2.()assumption implies the life of business should be divided into short ones.n3.()assumes the business will continue for a quite long time.第15页n4.()limits the economic data in the accounting system to data related directly to the activities of the business.n5.()requires that money be used as the basic measuring unit.In fact,it also implies the()assumption.第16页nAccrual basis principle implies that revenue and expenses are recorded when they occurs but not when cash is received or paid.Accrual basis Principle第17页All goods and services purchased by an enterprise are recordedat acquisition cost and appear on financial statement at cost.Historical Cost Principle第18页nHistorical cost 历史成本历史成本nReplacement cost 重置成本重置成本nNet realizable value 可变现净值可变现净值nCurrent value 现值现值nFair value 公允价值公允价值第19页The Cost Principle-ExampleYou purchased some land for$95,000 on January 1 of the current year.Then,you borrowed$100,000 for 2 years at 10%interest at the local bank that appraised the land for$105,000.You will eventually pay the bank$120,000(20,000 for the interest).On Dec.31 of that year,you received a offer for the land for$110,000,but you dont want to sell.At what value should the land be reported on the balance sheet?第20页Realization principleUnder the realization principle,revenues should be recognized at the time goods are sold or services are rendered.第21页Matching principleUnder the matching principle,revenue for a period is matched with the expenses incurred in generating the revenue.第22页Full disclosure principleFinancial statements and their accompanying notes should contain all relevant information a reader needs to understand the financial condition and performance of a business.第23页nCost benefit relationshipnMaterialitynConservatismConstraints第24页Cost benefit relationshipAccountants should weigh the benefit derived from the information against the cost of providing that information.The benefits should exceed the costs.第25页MaterialityThe word“materiality”refers to the relative importance of an item.Accountants should consider the relative importance of any transactions.第26页ConservatismAccountants should be conservative in choosing the one that has the least favorable impact on net income when there are two or more alternative accounting methods.第27页Questions:n1.()implies accountants should be conservative in choosing the one that has the least favorable impact on net income when there are two or more alternative accounting methods.n2.Under(),revenues should be recognized at the time goods are sold or services are rendered.第28页n3.Under(),when the business provides a service,makes a sale,or incurs an expense,the accountant must enter it into the journal,whether or not cash has been received or paid.n4.()requires financial statement should offer adequate information.第29页Case nChina Security Regulatory Commission(CSRC)requires the listed companies disclose their annual reports within 4 months after the end date of each accounting period.A student major in accounting,argued,“Nowadays,timeliness is a vital characteristic of information.Information provided 4 months later is useless because the situation have changed greatly.”Do you agree or not?Why?第30页课后作业课后作业n自己查找资料，了解我国和美国会计法规体系。自己查找资料，了解我国和美国会计法规体系。第31页The Accounting Regulation System in ChinaAccountingLawNPCMinistry of FinanceAccountingStandardsConcreteAccountingStandardsBasicAccountingStandardsEnterpriseAccountingSystemApplying Guide ofAccountingStandards第32页nBasic Accounting StandardsqConcepts Framework of Financial Accounting(CF)nFunction:q Conduct formulating accounting standards第33页我国企业会计基本准则我国企业会计基本准则n总则总则n会计信息质量要求会计信息质量要求n资产资产n负债负债n全部者权益全部者权益n收入收入n费用费用n利润利润n会计计量会计计量n财务会计汇报财务会计汇报n附则附则第34页nConcrete Accounting StandardsqGenerally AcceptedAccounting Principles(GAAP)nFunction:qGuidelines to govern the conduct of accountants第35页 Securities and Exchange Commission(SEC，美国美国证证券交易委券交易委员员会会)The federal agency that has authority to determine GAAP for public companies whose stock is traded on Stock Exchange.In essence,the SEC has acquiesced（默（默许许）its role to to establish GAAP to the FASB.Financial Accounting Standards Board(FASB，美国，美国财务财务会会计计准准则则委委员员会会)A private,not-for-profit organization.The FASB follows due process（充分程序充分程序）rules and seeks public input at various points in GAAP development through“Exposure Drafts”.第36页Early Standard SettingEvolution of Standard-Setting Processq1938-1959:Committee on Accounting Procedures(CAP)会计程序委员会会计程序委员会q1959-1973:Accounting Principles Board(APB)会计标准委员会会计标准委员会qAccounting Research Bulletins and Opinions 会计研究公告与意见会计研究公告与意见第37页Current Standard Setting FASBwww.fasb.orgnEstablished in 1973.nSupported by the Financial Accounting Foundation（财务会计基金（财务会计基金）.nSeven full-time,independent voting members serving for 10 years.nMembers not required to be CPAs.第38页nStatement of financial accounting concepts,SFAC,财务会计概念公告财务会计概念公告nStatement of financial accounting standards,SFASs,财务会计准则公告财务会计准则公告nInterpretation of the SFASs,财务会计准则解财务会计准则解释释第39页第40页FASBs Standard-Setting Process Identification of problem.The task force(专题研究组专题研究组).Research and analysis.Discussion memorandum(讨论备忘录讨论备忘录).Public response.Exposure draft(征求意见稿征求意见稿).Public response.Statement issued.第41页International Accounting Standards Board(IASB,国际会计准则理事会国际会计准则理事会)www.iasb.orgnFormer is International Accounting Standards Committee(IASC,国际会计准则委员会国际会计准则委员会)，Established in 1973 to narrow the range of differences in accounting standards.qIAS(International Accounting Standards)nReorganized into IASB in.qIFRS(International Financial Reporting Standards)第42页Establishment of Accounting StandardsA Political ProcessGAAPInternal RevenueServicewww.irs.govAmerican Instituteof CPAswww.aicpa.orgSecurities andExchangeCommissionwww.sec.govAmericanAccountingAssociation www.aaa-edu.orgGovernmentalAccountingStandards Boardwww.gasb.orgFinancial ExecutivesInstitutewww.fei.org第43页