第八章 财务报表

Chapter 8 Financial StatementsNew Words and ExpressionsFinancial statements 财务报表shareholder 股东balance sheet 资产负债表asset 资产liability 负债owner’s equity 所有者权益shareholders’ equity 股东权益current assets 流动资产fixed assets 固定资产cash equivalents 现金等价物tangible assets 有形资产Intangible assets 无形资产accounts receivable 应收账款inventory 存货current liabilities 流动负债long-term liabilities 长期负债accounts payable 应付账款current ratio 流动比率leverage 杠杆bankruptcy 破产income statement 利润表revenues 收入expenses 费用dividends 股利cost of goods sold 销售成本gross profit 毛利润research and development 研发depreciation 折旧earnings before interest and tax 息税前利润retained earnings 留存收益net profit after taxes 税后净利润BackgroundWhat are Financial Statements?Financial statements provide an overview of a business or person's financial condition in both short and long term. There are three basic financial statements:Balance sheet: reports on a company's assets, liabilities, and Ownership equity at a given point in time. Typically, a company lists its assets on the left side and its debts and liabilities on the right. It is important to realize that the balance sheet must balance. That is, total assets must equal the sum of total liabilities and total owner’s equity. Each of these sections is usually further divided into subsections.Income statement:also referred to as Profit and Loss statement (or a "P&L"), reports on a company's income, expenses, and profits over a period of time.Cash flows statement: provides a look at the movement of cash in and out of a company. The cash-flow statement can be important in determining whether or not a company has enough cash to pay its bills, handle expenses, and acquire assets.Comprehension of the T ext1. Which financial statement is prepared as of a particular date rather than for a period ending on a particular date?2. What is the balance sheet?3. How many types of assets are in the balance sheet?4. In what section of the balance sheet would one find patents and trademarks?5. What are the current liabilities?6. What is the income statement?课文难句理解On the right-hand side of the balance sheet, lenders hold liabilities and shareholders hold equity. 在资产负债表的右边，债权人拥有负债，股东拥有权益。

The equity claim is "residual", which means shareholders own whatever assets remain afterdeducting liabilities.股东享有剩余财产索偿权，即仅对扣除负债后的资产享有索偿。

One, it can (or probably must) pay interest on its debt. Two, it can pay dividends to shareholders at its discretion. And three, it can retain or re-invest the remaining profits.第一，利润可以（或者必须）用来支付债务利息。

第二，公司可选择将利润用来支付股息。

第三，利润可以留存或者再投资。

A balance sheet, also known as a "statement of financial position", reveals a company's assets, liabilities and owners' equity (net worth).资产负债表，也被称为是“财务状况表”，反映了一个公司的资产，负债以及所有者权益（资本净值）。

Assets are what a company uses for its production process, while liabilities are obligations to be paid to outside parties.资产就是公司用于生产活动的资金，而负债是要支付给外部主体的债务。

Owners' equity, referred to as shareholders' equity in a publicly traded company, is the amount of money initially invested into the company plus any retained earnings, and it represents a source of funding for the business.所有者权益，也指上市公司的股东权益，它等于公司的初始投入资金加上留存收益，表示企业资金的来源之一。

Three types of assets are included in the balance sheet: current assets, fixed assets and intangible assets.资产负债表中包含三种资产：流动资产，固定资产，和无形资产。

Current assets have a life span of one year or less, meaning they can be converted easily into cash. Such assets are cash and cash equivalents, accounts receivable and inventory.流动资产的期限为一年或一年以下，说明它们能够很容易的转换为现金。

这些资产包括现金和现金等价物，应收帐款以及存货。

If a company is manufacturing a product, the inventory is divided into three different stages: raw materials, work-in-progress (WIP) and finished goods.如果公司是制造企业，存货分为三个不同的阶段：原材料，在制品，产成品。

Current liabilities include such items as dividends payable, accounts payables (what the company owes to suppliers for buying raw materials or retail products on credit), interest payments on long-term debt and taxes payable.流动负债包括应付股利，应付帐款（公司购买原材料欠供应商的货款，或者利用商业信用赊购的商品），长期债务利息支出以及应付税金。

If, at the end of the fiscal year, a company decides to reinvest its net earnings (after taxes) into the company, the retained earnings will be restated from the income statement onto the balance sheet here.如果，在财政年度末，公司决定将其税后净利润用于再投资，留存收益将会从利润表中调整到资产负债表。

While the balance sheet states a company's assets and liabilities, the income statement (IS), also referred to as a profit and loss statement (P&L), shows a company's revenues and expenses for a given period of time.资产负债表说明了公司的资产负债情况；利润表，也称为损益表，则反映了一段时间内公司的收入与支出状况。