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Accruals Quality and Internal Control

THE ACCOUNTING REVIEWV ol.82,No.52007pp.1141–1170Accruals Quality and Internal Controlover Financial ReportingJeffrey T.DoyleUtah State UniversityWeili GeUniversity of WashingtonSarah McVayUniversity of UtahABSTRACT:We examine the relation between accruals quality and internal controlsusing705ﬁrms that disclosed at least one material weakness from August2002toNovember2005andﬁnd that weaknesses are generally associated with poorly esti-mated accruals that are not realized as cashﬂows.Further,weﬁnd that this relationbetween weak internal controls and lower accruals quality is driven by weakness dis-closures that relate to overall company-level controls,which may be more difﬁcult to‘‘audit around.’’Weﬁnd no such relation for more auditable,account-speciﬁc weak-nesses.Weﬁnd similar results using four additional measures of accruals quality:dis-cretionary accruals,average accruals quality,historical accounting restatements,andearnings persistence.Our results are robust to the inclusion ofﬁrm characteristics thatproxy for difﬁculty in accrual estimation,known determinants of material weaknesses,and corrections for self-selection bias.Keywords:earnings quality;accruals quality;internal control;material weaknesses.Data Availability:All data used in the paper are available from publicly available sourcesnoted in the text;the data on internal control weaknesses are avail-able in machine-readable form from the authors upon request.I.INTRODUCTIONI n this paper we examine the relation between accruals quality and the internal controlenvironment of theﬁrm.By deﬁnition,when there is a material weakness in internal control,there is‘‘more than a remote likelihood that a material misstatement of theWe thank two anonymous reviewers,Dan Cohen,Patty Dechow,Dan Dhaliwal(the editor),Ilia Dichev,Kalin Kolev,Russ Lundholm,Matt Magilke,Zoe-V onna Palmrose,Christine Petrovits,Cathy Shakespeare,Tom Smith, and Suraj Srinivasan for their helpful comments and suggestions.This paper has also beneﬁted from comments received at the20054-School Conference at Columbia University,the2005AAA Midwest Regional Meeting,the 2006AAA FARS Midyear Meeting,the2006Accounting and Finance Association of Australia and New Zealand Annual Meeting,the2006International Symposium on Audit Research Conference,and the University of Michigan. Editor’s note:This paper was accepted by Dan Dhaliwal.Submitted August2005Accepted January200711411142Doyle,Ge,and McVayAccruals Quality and Internal Control over Financial Reporting 1143The Accounting Review,October 2007Although there are several plausible explanations for the weaker results using the Section 404disclosures,one obvious difference between Sections 302and 404is the increased level of scrutiny under Section 404,which requires an audit opinion on the internal controls by the external auditors.It is possible that external auditors applied a lower effective threshold for Section 404compared to management’s threshold under Section 302and therefore identiﬁed a greater number of material weaknesses that lacked real ﬁnancial reporting con-sequences.We discuss these results and other possible explanations later in Section IV .Our paper makes two primary contributions.First,we extend the literature on earnings/accruals quality.Conceptually,it makes sense that a good internal control system is the foundation for high-quality ﬁnancial reporting,since strong internal controls likely curtail both procedural and estimation errors,as well as earnings management.Our ﬁndings present empirical evidence to support this fundamental link between internal controls and accruals quality.In addition,our paper extends this basic research question by (1)examining the types of material weaknesses (company-level versus account-speciﬁc),(2)distinguishing between the Section 302versus 404reporting regimes,(3)using a cross-section of ﬁve earnings/accruals quality measures,and (4)controlling for self-selection bias through the use of both a Heckman (1979)two-stage process and a propensity score matching approach (LaLonde 1986).Second,our paper provides empirical evidence on the effectiveness of Sections 302and 404of Sarbanes-Oxley.These sections have been among the most cumbersome of the new legislation,with many critics alleging that the costs of compliance far exceed any beneﬁts.We ﬁnd that the most informative material weakness disclosures (i.e.,those that are associated with real economic events such as lower accruals quality)are those that relate to more serious,company-level problems for both Sections 302and 404.Fur-thermore,the company-level disclosures made under Section 302seem to be more strongly related to lower accruals quality than the company-wide disclosures under Section 404.The disclosures of material weaknesses that report less serious,account-speciﬁc problems under both Sections 302and 404do not appear to be effective in our tests at identifying ﬁrms with lower ﬁnancial reporting quality.Since the implementation of Sections 302and 404of Sarbanes-Oxley is fairly new,there are a number of concurrent papers in this area.Our ﬁndings are generally consistent with and complementary to these other papers.First,our main ﬁnding—that material weak-nesses are associated with lower accruals quality—is consistent with several other papers that examine this relation employing varying time periods,accruals quality proxies,and types of deﬁciencies (Ashbaugh-Skaife et al.2006;Bedard 2006;Chan et al.2005;Hogan and Wilkins 2005).2Second,our ﬁnding that the more auditable account-speciﬁc weak-nesses are not associated with lower accruals quality is complementary to Hogan and Wilkins (2006)who ﬁnd that audit fees are abnormally high for ﬁrms with an internal control deﬁciency in the year preceding the deﬁciency disclosure,indicating that auditors are able to reduce the impact of poor controls through substantive testing.Finally,our conclusion that it is the internal control problem that is the root cause of the lower accruals quality is supported by Ashbaugh-Skaife et al.(2006)and Bedard (2006)who ﬁnd that accruals quality improves in the year following the reported internal control problem for 2This ﬁnding also complements and motivates recent studies that examine market reactions to these disclosures as well as differences in the implied cost of capital for ﬁrms with weak internal controls (e.g.,Beneish et al.2006;DeFranco et al.2005;Hammersley et al.2008;Ogneva et al.2007).1144Doyle,Ge,and McVay The Accounting Review,October 2007ﬁrms that appear to have remediated their deﬁciencies.3In sum,the papers in this area jointly present a fairly cohesive picture of how internal controls affect accruals quality.The paper proceeds as follows.The next section motivates our hypotheses,and Section III describes our sample selection and variable deﬁnitions.Section IV presents our main results,and Section V describes our robustness tests.A summary and concluding remarks are offered in the ﬁnal section.II.HYPOTHESESInternal control over ﬁnancial reporting is deﬁned as ‘‘a process ...to provide reason-able assurance regarding the reliability of ﬁnancial reporting’’(PCAOB 2004)(emphasis added).By deﬁnition,good internal control is supposed to result in more reliable ﬁnancial information.Internal controls aim to prevent and/or detect errors or fraud that could result in a misstatement of the ﬁnancial statements.However,there is limited empirical evidence in the existing literature regarding the relation between the quality of internal control and the quality of accounting information.4A major reason is lack of data on internal control;in general,it is difﬁcult to directly observe or verify internal control quality (Kinney 2000).Our sample is generated from the disclosures of material weaknesses in internal controls that ﬁrst appeared as a result of Section 302of Sarbanes-Oxley,which requires that ofﬁcers certify the ﬁnancial statements,including the effectiveness of the internal control over ﬁnancial reporting,and any material changes in internal control.Material weaknesses have also been disclosed in conjunction with Section 404requirements,which became effective for accelerated ﬁlers for ﬁscal years ending after November 15,2004.5Section 404requires that management issue a report on internal control over ﬁnancial reporting,and that auditors attest to their ﬁndings.The unaudited internal control disclosures under Section 302are meant to be a transition to the full ‘‘attestation’’regime under Section 404,with Section 404becoming the ongoing internal control reporting mechanism.However,as the date for non-accelerated ﬁlers to comply with Section 404has been extended several times (most recently to December 15,2008for full attestation),internal control disclosures continue to be reported under Section 302for these smaller companies.Regardless of the origin of the material weakness disclosure,all else equal,we expect these disclosures to be informative about the quality of ﬁrms’accruals.3Altamuro and Beatty (2006)examine the impact of the FDICIA-mandated internal control reforms within the banking industry and ﬁnd that these reforms led to improvements in earnings quality for banks affected by the regulation relative to unaffected banks during the same period.Their ﬁndings are also consistent with poorer internal control resulting in lower earnings quality.4In related work,Krishnan (2005)ﬁnds that internal control problems are negatively associated with the quality of the audit committee.To the extent that audit committee quality and internal control quality are positively associated,this ﬁnding supports our hypothesis.As noted in the introduction,there are several concurrent works examining earnings quality and internal control problems (e.g.,Ashbaugh-Skaife et al.2006;Hogan and Wilkins 2005).5Section 302of the Sarbanes-Oxley Act became effective for ﬁscal years ending after August 29,2002for all SEC registrants.Section 404became effective for ﬁscal years ending after November 15,2004for accelerated ﬁlers,a classiﬁcation that generally includes public ﬁrms with a market capitalization of at least $75million (the due date was extended an additional 45days for accelerated ﬁlers with a market capitalization of less than $700million in November 2004).For non-accelerated ﬁlers,Section 404will be effective for years ending on or after December 15,2007for management assessment of the effectiveness of internal control and December 15,2008for the auditor’s attestation report.Since the reporting requirements differ on important dimensions that are likely correlated with accruals quality,we conduct sensitivity analyses that differentiate between Section 302and 404disclosures.These alternative results are discussed in Section IV .Accruals Quality and Internal Control over Financial Reporting1145 Prior research on earnings quality is generally related to accruals quality(Dechow and Schrand2004),and that is also the focus in this paper.Accruals can be of poor quality for two basic reasons:(1)management could intentionally bias accruals through earnings man-agement and(2)unintentional errors in accrual estimation could occur because it is difﬁcult to predict an uncertain future,or simply because there are insufﬁcient controls in place to detect errors.Both of these roles have been investigated in the existing literature.With respect to earnings management,managers have been shown to use‘‘discretionary accruals’’to manage earnings in various settings,such as prior to equity offerings(e.g.,Rangan1998; Teoh et al.1998).As for unintentional errors,Dechow and Dichev(2002)point out that the quality of accruals and earnings are not limited to managerial opportunism,but are also related to the inherent difﬁculty in estimating accruals forﬁrms with certain characteristics (e.g.,longer operating cycles).They measure the quality of accruals by the extent to which the accruals map into cashﬂows.In general,theyﬁnd that the quality of accruals is poorer forﬁrms with certain characteristics,such as a high proportion of losses,more volatile sales and cashﬂows,lower total assets,and longer operating cycles.We expect that weaknesses in internal control will result in lower accruals quality because,by deﬁnition,they have the potential to allow errors in accrual estimation to occur and impact the reportedﬁnancial statements.These potential errors include both intentional (earnings management)and unintentional(poor estimation ability)errors.For a company with weak controls,intentionally biased‘‘discretionary’’accruals could be greater by failing to limit management’s ability to manage earnings(e.g.,by segregating duties).Uninten-tional errors could be higher if weak controls result in more estimation errors for difﬁcult to estimate accruals(e.g.,by failing to ensure that qualiﬁed personnel are calculating es-timates)and allow more procedural errors(e.g.,by failing to have appropriate reconcilia-tions and reviews in place).As an example,Cardiodynamic International disclosed a ma-terial weakness related to the frequency of their analysis of the inventory obsolescence provision.This material weakness most likely resulted in estimation errors related to its inventory accounts,which may have been intentional to allow the understatement of ex-penses.These estimation errors,caused by the material weakness in internal control,likely resulted in lower overall accruals quality for Cardiodynamic.This leads to ourﬁrst hypothesis:H1:Material weaknesses in internal control are negatively associated with accruals quality.Ourﬁrst hypothesis is based on the notion that good internal control overﬁnancial reporting is an effective internal monitoring device and results in higher qualityﬁnan-cial reporting.However,the hypothesis does not consider external monitors.It is possible that auditors increase substantive testing when encountering weak internal controls.In other words,internal controls and substantive testing could be substitutes in producing high-quality accruals(e.g.,Wright and Wright1996).Our next hypothesis,therefore,is related to the‘‘auditability’’or potential severity of the internal control weaknesses.While a material weakness is the most severe type of internal control deﬁciency,within the material weakness classiﬁcation the severity of internal control problems varies sub-stantially.Moody’s(the bond-rating company)proposes that material weaknesses fall into one of two categories.Account-speciﬁc material weaknesses relate to controls over speciﬁc account balances or transaction-level processes.Moody’s suggests that these types of ma-terial weaknesses are‘‘auditable,’’and thus do not represent as serious a concern regarding the reliability of theﬁnancial pany-level material weaknesses,however,The Accounting Review,October20071146Doyle,Ge,and McVay The Accounting Review,October 2007relate to more fundamental problems such as the control environment or the overall ﬁnancial reporting process,which auditors may not be able to ‘‘audit around’’effectively.Moody’s suggests that company-level material weaknesses call into question not only management’s ability to prepare accurate ﬁnancial reports,but also its ability to control the business (Doss and Jonas 2004).6The disclosure by Nitches,Inc.,illustrates a typical ‘‘company-level’’material weakness:In October 2004,our management concluded that there were certain material weak-nesses in our internal controls and procedures.The material weaknesses noted related to segregation of duties in the payroll process and in the monthly closing process;inadequate review and approval of management-level adjustments and entries.We have discussed these material weaknesses with our auditors,Moss Adams,LLP,who have recommended taking steps to alleviate the inadequate segregation of duties within these areas.This internal control problem could feasibly affect accruals quality.The lack of proper checks and balances might result in procedural errors,while inadequate review of mana-gerial adjustments might facilitate earnings management.Thus,we expect Nitches to exhibit poorer accruals quality than a similar ﬁrm (with respect to size,operating cycle,etc.)without a material weakness in internal control.A seemingly less severe ‘‘auditable’’ma-terial weakness was reported by I-Flow Corporation:As part of the annual audit process,a material weakness was identiﬁed in our controls related to the application of generally accepted accounting principles,speciﬁcally re-lated to the classiﬁcation of the Company’s short-term investments,resulting in the Company reclassifying approximately $34million of cash and cash equivalents to short-term investments.It is not clear that this weakness would result in lower accruals quality.The distinction between company-level and account-speciﬁc material weaknesses is especially important for the more recent material weakness disclosures in our sample.These disclosures appear to be more conservative,and,per discussions with auditors,might be overly conservative.This leads to our second hypothesis:H2:Company-level material weaknesses have a stronger negative relation with accrualsquality than account-speciﬁc material weaknesses.III.DATA,SAMPLE SELECTION,AND V ARIABLE DEFINITIONSIdentifying and Classifying Firms with Material WeaknessesAs mentioned above,material weaknesses in internal control have only been widely disclosed in SEC ﬁlings since August 2002.To collect our test ﬁrms,we search 10-K Wizard (10-Ks,10-Qs,and 8-Ks;)using the keywords ‘‘mate-rial weakness’’and ‘‘material weaknesses’’from August 1,2002through October 31,2005.6It might seem that auditors should also be able to substantively test company-level weaknesses,however,the general nature of these weaknesses does not pinpoint where additional substantive testing should occur,while the account-speciﬁc weaknesses highlight a speciﬁc area where auditors can then focus more attention.Accruals Quality and Internal Control over Financial Reporting 1147The Accounting Review,October 2007We include only those ﬁrms that classify their internal control problem(s)as a material weakness,the most severe internal control deﬁciency.7We focus on material weaknesses for two reasons.First,it is the most severe type of deﬁciency in internal control and the most likely to affect accruals quality.Second,the disclosure of material weaknesses is effectively mandatory,while the disclosure of lesser ‘‘signiﬁcant deﬁciencies’’is unambig-uously voluntary (see footnote 19).Focusing on the more mandatory disclosures helps avoid self-selection issues associated with voluntary disclosures.This procedure identiﬁes 1,210ﬁrms that disclosed at least one material weakness from August 2002to November 2005,outlined in Table 1,Panel A.Of these ﬁrms,164are not covered by Compustat,and 79companies in our sample disclosed a material weakness related to lease accounting in 2005.These disclosures were responses to the views expressed by the Ofﬁce of the Chief Accountant of the SEC in a February 7,2005letter to the AICPA.Due to the narrow,technical nature of this issue,we exclude these ﬁrms from our analysis (the inclusion of these ﬁrms leads to very similar results).If a parent and subsidiary both ﬁle with the SEC and report the same material weakness,then we include only the parent company and remove the subsidiary from our control ﬁrms if the subsidiary is covered by Compustat (17ﬁrms).We also exclude from our control sample the 100ﬁrms identiﬁed by Compliance Week ()as having a signiﬁcant deﬁciency that does not reach the severity of a material weakness,in order to create a more powerful test between ﬁrms with clear internal control problems (ﬁrms reporting material weak-nesses)and those with no apparent internal control problems.Next,259(1,974)of our material weakness (control)sample ﬁrms have insufﬁcient data to calculate our measure of accruals quality.We also eliminate three material weakness ﬁrms and 14control ﬁrms that were involved in a signiﬁcant merger (greater than 50percent of sales)during the accruals quality estimation period,because the merger could result in mismatched current accruals and future cash ﬂows (Hribar and Collins 2002).A signiﬁcant merger is identiﬁed in Com-pustat footnote 1as ‘‘AB.’’These restrictions result in a sample of 705(3,280)material weakness (control)ﬁrms with non-missing accruals quality data and 645(2,943)mater-ial weakness (control)ﬁrms in our multivariate tests.8We summarize our sample selection process in Table 1,Panel A.We next classify ﬁrms as having either a company-level or account-speciﬁc material weakness in order to test the hypothesis that more severe,company-level weaknesses will be more negatively associated with accruals quality.We provide examples of each category in Appendix A.These classiﬁcations are mutually exclusive;if a ﬁrm has both company-level and account-speciﬁc weaknesses,then we code the ﬁrm as having a company-level material weakness.In some cases,it is straightforward to categorize a disclosure as company-level;for example,when ‘‘ineffective control environment’’or ‘‘management 7A material weakness is ‘‘a signiﬁcant deﬁciency,or combination of signiﬁcant deﬁciencies,that results in more than a remote likelihood that a material misstatement of the annual or interim ﬁnancial statements will not be prevented or detected,’’as deﬁned by the Public Company Accounting Oversight Board (PCAOB)under Auditing Standard No.2.A signiﬁcant deﬁciency is deﬁned as ‘‘a control deﬁciency,or combination of control deﬁcien-cies,that adversely affects the company’s ability to initiate,authorize,record,process,or report external ﬁnancial data reliably in accordance with generally accepted accounting principles such that there is more than a remote likelihood that a misstatement of the company’s annual or interim ﬁnancial statements that is more than incon-sequential will not be prevented or detected’’(PCAOB 2004,para.9).8Of the 645material weakness ﬁrms in our ﬁnal sample,eight were disclosed in 2002,55in 2003,207in 2004,and the remaining 375in 2005.Of the 375disclosures in 2005,276(74percent)correspond to our estimate of 404ﬁlers (a ﬂoat greater than or equal to $75million).Only 15(7percent)of the disclosures from 2004correspond to 404ﬁlers (a ﬂoat of greater than or equal to $75million and a ﬁling date after November 14,2004).1148Doyle,Ge,and McVayThe Accounting Review,October 2007TABLE 1Sample Selection and Variable DeﬁnitionsPanel A:Sample SelectionMaterial Weakness Sample Identiﬁed material weakness ﬁrms from August 2002to November 20051,210Less ﬁrms not covered by Compustat(164)Total material weakness ﬁrms covered by Compustat1,046Less ﬁrms with material weaknesses related only to accounting for leases (79)Less ﬁrms with unavailable data on accruals quality (259)Less ﬁrms with extreme merger and acquisition activity in the accruals quality estimation period (3)Total material weakness ﬁrms examined in univariate tests705Less ﬁrms with unavailable data for control variables(60)Total material weakness sample used in multivariate regressions645Compustat Control SampleAll Compustat ﬁrms with 2003data 6,431Less ﬁrms identiﬁed as having a material weakness (1,046)Less ﬁrms identiﬁed as having an internal control weakness other than a material weakness by Compliance Week (100)Less ﬁrms identiﬁed as the subsidiary of a material weakness ﬁrm (17)Less ﬁrms with unavailable data on accruals quality (1,974)Less ﬁrms with extreme merger and acquisition activity in the accruals quality estimation period (14)Total control ﬁrms examined in univariate tests3,280Less ﬁrms with unavailable data for control variables(337)Total control sample used in multivariate regressions2,943Panel B:Variable DeﬁnitionsVariableDeﬁnition Material Weakness DisclosuresMWAn indicator variable that is equal to 1if the ﬁrm disclosed a material weakness in internal control in our sample period (August 2002to November 2005),and 0otherwise.MW Account-Speciﬁc (Company-Level)An indicator variable that is equal to 1if the ﬁrm disclosed a material weakness in internal control in our sample period (August 2002to November 2005)related to an auditable account (a more pervasive company-wide problem),and 0otherwise.Accruals Quality Measures Accruals Quality (AQ)The standard deviation of the residuals from the Dechow and Dichev (2002)accruals quality measure,as adjusted by McNichols (2002)and Francis et al.(2005),measured from 1996–2002(see Section III).Discretionary Accruals The average of the absolute value of discretionary accruals from 1996–2002,where discretionary accruals are calculated following Becker et al.(1998).Average Accruals QualityThe average of the absolute value of the residuals from the Dechow and Dichev (2002)accruals quality measure,as adjusted by McNichols (2002)and Francis et al.(2005),measured from 1996–2002.(continued on next page )Accruals Quality and Internal Control over Financial Reporting1149The Accounting Review,October 2007TABLE 1(continued)VariableDeﬁnition Historical RestatementAn indicator variable that is equal to 1if the ﬁrm was listed by the GAO as having restated their ﬁnancial statements from 1997–2002,and 0otherwise.Earnings Persistence The coefﬁcient on earnings from a cross-sectional regression of current earnings on one-year-ahead earnings estimated from 1996–2002.Innate Firm Characteristics That Affect Accruals QualityLoss ProportionThe ratio of the number of years of losses (Compustat annual data item #123)relative to the total number of years of data from 1996–2002.Sales VolatilityThe standard deviation of sales (data item #12),scaled by average assets (data item #6),from 1996–2002.CFO VolatilityThe standard deviation of cash from operations (data item #308),scaled by average assets,from 1996–2002.Total AssetsThe log of total assets (data item #6)from 2003Compustat.Operating Cycle The log of the average of [(Sales/360)/(Average Accounts Receivable)ϩ(Cost of Goods Sold/360)/Average Inventory)],calculated from 1996–2002.Additional Material Weakness Determinants That Could Be Related To Accruals Quality Firm AgeThe log of the number of years the ﬁrm has CRSP data as of 2003.SegmentsThe log of the sum of the number of operating and geographic segments reported by the Compustat Segments database for the ﬁrm in 2003.Extreme Sales GrowthAn indicator variable that is equal to 1if year-over-year industry-adjusted sales growth (data item #12)from 2002to 2003falls into the top quintile,and 0otherwise.Restructuring Charge The aggregate restructuring charges [data item #376ϫ(Ϫ1)]in 2003and 2002,scaled by the ﬁrm’s 2003market capitalization.override’’is speciﬁcally identiﬁed as a material weakness in the disclosure.However,most disclosures are not so forthcoming.Thus,if a ﬁrm has material weaknesses related to at least three account-speciﬁc problems,we classify the ﬁrm as having a company-level ma-terial weakness.In two cases,the ﬁrm has insufﬁcient information to code the disclosure;we classify both of these disclosures as company-level.Of our 705ﬁrms with non-missing accruals quality data,426are classiﬁed as account-speciﬁc and 279as company-level.Accruals Quality MeasuresWe use the measure of accrual estimation error developed in Dechow and Dichev (2002)and modiﬁed in McNichols (2002)and Francis et al.(2005)as our main measure of accruals quality.This measure deﬁnes the quality of accruals as the extent to which they map into past,current,and future cash ﬂows.We assume that this measure can capture the effect of internal control on accruals quality for two reasons.First,a large number of disclosed material weaknesses are related to speciﬁc accounts (e.g.,inventory [Ge and McVay 2005]).These speciﬁc accounts could have estimation errors that will be captured by this measure.For example,if the inventory account is overstated,then the obsolete inventory will not result in cash inﬂows in the next period,resulting in a low correlation between the accrual and realized cash ﬂows.Second,compared to other measures of ac-cruals quality,the measure in Dechow and Dichev (2002)does not rely solely on earnings。

ACCAF3中英文单词对照表

第一章1．资产asset2．负债liability3．所有者权益equity=capital=net asset4．收入income=revenue=sales5．费用expense6．厂房plant7．机器machine8．无形资产intangible asset9．非流动资产Non current asset（6 7 8属于9）10．库存现金petty cash11．银行存款cash12．应收账款trade receivable=A/R13．存货inventory14．流动资产current asset （10 11 12 13属于14）15．贷款loan16．应付账款trade payables=A/P17．预收账款advance from customers18．流动负债current liability（15 16 17属于18）19．实收资本share capital20．资本公积share premium21．留存收益Retained earnings=R/ES22．资产负债表statement of financial position=SOFP23．所有者权益变动表statement of changes in equity=SOCIE24．现金流量表statement of cash flow25．利润表statement of comprehensive income=SOCI第二章1．复式记账double-entry bookkeeping2. 借Debit3. 贷Credit4. 预付账款prepayment5. 利润profit第四章1．增值税value added tax=sales tax2．进项税额input tax3．销项税额output tax4．贸易折扣（商业折扣）trade discount5．现金折扣cash discount6. 不含税exclusive7. 含税inclusive 8. 交易事项Transaction9. 取走withdraw第五章1.现金petty cash=cash on hand2.支票cheque3.自动转账standing order/direct debt4.银行给你存款利息bank interest on deposit5.银行收取利息手续费bank charges6.银行收取利息bank interest on overdraft7.空头支票dishonored cheque8.未结清的款项，别人给我的uncleared lodgement9.未承兑的汇票unpresent cheque10.别人给我支票undrawn cheque11.公司业务错误business error12.银行业务错误bank error13.银行存款余额调节表bank reconciliation14.银行透支overdraft15.银行对账单bank statement16.现金账簿/银行存款日记账cash book17.总账control accounts =general ledger18.明细账individual ledger =personal ledger=subsidiary ledger=memo account19.应收账款总账receivable control account =receivable general ledger20.应收账款明细账receivable ledger=sales ledger21.坏账bad debt=irrecoverable debt22.毛利润gross profit23.一般性坏账准备general allowance24.特殊性坏账准备specific allowance25.可疑的坏账doubtful debt25.资产减值损失expense-bad debts written off26.坏账准备allowance for A/R第六章1 存货inventory2 先进先出first in first out3 特殊计价法specific identification4 加权平均法period average=weighted average5 移动加权平均法continuous average=continuous weighted average cost method=moving weighted average method6 成本historical cost7 可变现净值net realizable value8 资产减值损失-计提的存货跌价准备expense-inventory written-down9 永续盘存制perpetual inventory system10 实地盘存制periodic inventory system11 购货purchase12 数量quantity13 单价unit cost14 毛利润率gross profit margin第七章1 买价original purchase price2 场地准备费cost of site preparation3 运输费delivery and handling4 安装费installation5 员工培训费employee training6资本化后续支出capital expenditure7 费用化后续支出revenue expenditure8 直线法straight line method9 累计折旧accumulated depreciation10 原值original cost11 预计净残值estimated residual value12 预计使用寿命useful life13 余额递减法reducing balance method14 账面价值net book value=carrying value15 固定资产处置disposal of fixed asset16 固定资产清理disposal account17 研究性支出research cost18 开发性支出development cost19 不确定使用寿命indefinite useful life20 确定使用寿命finite useful life21累计摊销accumulated amortization22 每年的折旧depreciation for each year第八章1或有事项contingencies2.或有负债contingent liabilities3.现时义务present obligation4.或有资产contingent assets5.肯定的certain6.可能的probable7.或许的possible8.遥远的，渺茫的Remote9.预计负债provision第九章1.试算平衡trial Balance2.交易发生transaction occur3.复式记账Double entry4.结账Balance off5.期末调整Year End Adjustment6.错误Errors7.遗漏omission8.任命错误commission errors9.原则性错误errors of principle10.加总错误casting errors11.暂记账户suspense account第十章1.预付账款prepayment2.预提费用accruals3.其他应收款other receivable4.递延收入Deferred income5.到期expire6.欠款arrear7.租客Tenant8.财务报表financial statements9.资产负债表The Statement of Financial Position10.利润表The statement of comprehensive income11.所有者权益变动表The statement of change in equity第十一章1.现金流量表The statement of cash flow2.经营活动operating activities3.投资活动investing activities4.筹资活动financing activities5.直接法The direct method6.间接法indirect method7.付出利息Interest paid8.付出所得税Income tax paid9.付出红利Dividends paid第十二章1.资产负债表日后事项Events after the reporting period2.调整事项adjusting event3.非调整事项Non-adjusting event第十三章1.会计政策Accounting policy2.会计估计Accounting Estimate。

FSA复习总结

Financial Reporting Mechanics （部分内容）8）什么是Double-Entry AccountingC 复式记账）原则（a transaction has to be recorded in at least two accounts）9）什么是Accrual Basis Accounting （权贵发生制）：Unearned Revenue （预收账款），Accrued Revenue （应计收入,比如下级零售商的回款）,Prepaid Expense （待摊费用，比如房租）, Accrued Expense （预提费用，应计费用,例如工资）10）什么是Cash Basis Accounting13）会用Balance Sheets Income Statement 和Cash Statement 之间的金额互算（比如Net income, Retaining earning, common dividend declared, repurchase of stock, owners' equity, cash之间的转换等等）14）Revenue 和Unearned Revenue（ Liabilities）的区别revenue指实际发生的，unearned revenue 是未实际发生的。

15）Ending Retained Earning -Beginning Retained Earning=Net Income-Dividend Declared16）General journal （普通口记账）:a listing of all the journal entries in order of the dates. General ledger （总分类帐薄）：Sorts the entries in general journal by accounts.Financial Reporting Standards1)国际会计准则(IFSR)和美国会计准则(GAAP)的大略异同2)国际会计准则No.l对哪些财务报表是必须的3)什么是Proxy Statements4)什么是MD&A5)报表的质量：Understandability, Comparability, Relevance, Reliability6)制作报表的两个Assumption： Accrual Basis. Going Concern Assumption 分别是什么意思6)一个完好的报表架构需要满足的几点要求：透明性(Transparency )，可理解(Comprehensiveness)和一致性(Consistency)Understanding The Income Statement1） Net Income 与Revenue 和Expense 的关系：Revenue - Expense = Net Income2）明白GnL （Gain and Loss）是Incidental Transaction产生的（买卖土地厂房,权益上的得失之类的）3）COGS： Cost of Goods Sold （产品成本）4） Gross Profit 与 Revenue 的关系：Revenue - COGS = Gross Profit5） Operating Profit （EBIT ） = Gross Profit - Operating Expense - Depreciation Expense6） Unearned Revenue （预收账款）是一种负债7） GAAP 下的 FASB 确认 Revenue 的四项原则是什么:Evidence of Arrangement ： ProductDelivered ： Price Determined ： Seller Sure Collecting Money8） Long-Term Contract 卜确认 Revenue 的方法：Percentage of Completion （百分比完成法）；outcomeof project cannot be reliably estimated,用 Completed Contract （完成合同法），在 cashflow 上一样9） Installment Sale （分期付款销售）,Profit 根据收到的Cash 确认;collectibility 高度不确定用更有Cost Recovery Method 要求收到的Cash 超过Cost 时才确认Profit10）什么是 Barter Transaction 以及它在 GAAP b fairvalue 用历史成交参考或 carrying value, IFSRb' Fair Value 参考历史相同交易11） Revenue 的两种计量方法：Gross revenueReporting 和 Net revenue Reporting 的区别是 salesand cost is reported （Gross Reporting 分别记 Revenue 和 COGS ： Net Reporting 只记它们的差值）12） Expense 确认的原则之一：Matching Principle 是指Expense 确认的时间要与Revenue 确认的时间一致13） Expense 中的Period Cost （期间成本），直接计入当期损益的各项费用14） Straight-line Depreciation 的计算方法（cost - residual value ） /useful life15） Double-Declining Balance Depreciation 的计算方法DDB Depreciation = 2（cost- accumulated depreciation ）/useful life16）关于Inventory 的三种会计记录方法:FIFO （先进先出）、LIFO （后进先出）和Average Cost（平均成本法）17）无形资产（Intangible Assets ）如何摊销（Amortization ）：直线折旧法!分有固定使用期限（如Franchise Agreement 特许代理协定）和没有固定使用期限（如Goodwill ）两种情况, 没有固定使用期限需每年检测损坏o18）被停止的经营项目（Discontinued Operations ）的记账原则：与其他项目分开报：对持续经营项目无影响19）什么样的事情是Unusual Items （比如:Gain n Loss for Sale Assets ）；什么样的事情是 InfrequentItems （比如：Impairement, Write Down 减值，Write Off 注销）20）什么样的事情是Extraordinary Items 异常项目：资产征收，提前还款的gain&loss,自然灾害尤其清楚如何计算Weighted Average Shares 22）什么是简单资本结构（Simple Capital Structure ）；什么是复杂资本结构（Complex CapitalStructure ） 23）什么是 Antidilutive Securities （反稀释证券）increase EPS 以及与 DilutiveSecurities （稀释证券）的区别decrease EPS24）什么是 Diluted EPS21）什么是BasicEPS 以及公式，basic EPS =net income -preferred dividends weight average number of common shares outstandingsadjusted income available for common shares，DUuted EPS =weig ht-average common and potential common shares outstandingDiluted EPS公式变形：dihited EPS[net income — preferred dividends] + [convertible preferred dividends] +_ [convertible debt interest] （1 — t）[weight average shares] + [shares from conversion of conv. pfd shares] +[shares from conversion of conv. debt] + [shares issuable from stock options]25）什么是Common-Size Income Statement 百分率损溢表，分母是Revenue26） Gross Profit Margin=里竺L竺空巴和Net Profit Margin=竺匚竺竺上的公式分别是什么，并且revenue revenue知道Net Sale 就是Revenue27）列举哪些收入不记入Income Statements： Issuing Stock： Reacquiring Stock； Dividend Paid： Other Comprehensive Income （FX, Pension Liability, Hedging Derivative, Available for Sale Securities）28） Available for Sale Securities（AFS 共出售金融资产）,Trading securities （TS 交易性证券）,AFS 和TS都是以公允价值计算，变现的损益计入权益表。

CMA P1冲刺讲义(2015)-1财务报告决策

1-5.ABC公司今年部分的财务信息如下：
净收益应收账款增加存货减少应付账款增加折旧费用出售可供出售证券的利得通过普通股筹集的资金股息支付 $2000000 $300000 $100000 $200000 $400000 $700000 $800000 $80000
用现金购买土地出售可供出售证券的现金所得
四.全面收益 I.净利润 + 其他全面收益=全面收益 II.其他全面收益 a.可供出售金融资产由于公允价格变动所产生的利得或损失 b.养老金计划的利得或损失 c.金融衍生品的利得或损失 d.利用现行汇率法进行海外子公司报表折算所产生的折算调整

长期投资
财产、厂房和设备无形资产
或有负债
四.额外的报告信息
I.或有事项
II.会计政策 III.合同情况 IV.公允价值
1-4.下列事项都是资产负债表所提供信息的局限，除了 A.报告企业收益质量 B.对于资产的回收、出售和年限都需要使用判断和预计 C.剔除了一些具有财务价值的信息，比如员工的价值 D.缺少大多数资产和负债的当前价值

II.定期盘存制 a.采购时，确认存货增加 b.期末确认销货成本，销货成本=期初存货+本期购入–期末存货

三.存货成本流转假设
I.个别认定法
a.销售时确认每项商品的销货成本 II.平均成本法 a.单位存货成本
= b.期末存货金额 = 期末存货数量 × 单位存货成本 c.当期销货成本 = 当期销货数量 × 单位存货成本
第一章对外财务报告决策
1.1.财务报告的使用者 1.2.利润表 1.3.资产负债表 1.4.现金流量表 1.5.应收账款 1.6.存货 1.7.投资 1.8.固定资产 1.9.无形资产

ACCAF3第二课监管框架中英文翻译分解

ACCA F3 第二课监管框架中英文翻译The following factors that have shaped financial accounting can be identified.有形财务会计的以下因素可以识别。

国家/地方立法会计概念和个人判断Accounting standards会计准则其他国际影响一般公认会计原则（GAAP）公允表达National/local legislation国家/地方立法1.4 Accounting standards1.4会计准则Financial Reporting Standards (IFRSs).财务报告准则（IFRS）IFRSs are produced by the International Accounting Standards Board (IASB). 国际财务报告准则由国际会计准则理事会（IASB）产生。

Monitoring Board监控板IFRS Foundation国际财务报告准则的基础IFRS Advisory Council国际财务报告准则咨询理事会IIFRS Interpretations Committeeiifrs解释委员会Appoints任命Reports to报告Advises建议The IFRS Advisory Council (formerly called the Standards Advisory Council or SAC) is essentially a forum used by the IASB to consult with the outside world. It consults with national standard setters,academics, user groups and a host of other interested parties to advise the IASB on a range of issues, from the IASB's work programme for developing new IFRSs to giving practical advice on the implementation of particular standards.国际财务报告准则咨询委员会（以前称为准则咨询委员会或囊）本质上是一个由IASB用来与外界咨询论坛。

会计英语实训考试题及答案

会计英语实训考试题及答案一、选择题（每题2分，共20分）1. What is the basic accounting equation?A. Assets = Liabilities + EquityB. Revenue – Expenses = Net IncomeC. Assets = Liabilities – EquityD. Liabilities = Assets – Equity答案：A2. Which of the following is not an accounting principle?A. ConsistencyB. MaterialityC. TimelinessD. Flexibility答案：D3. What is the purpose of adjusting entries?A. To correct past errorsB. To update the financial records for the current periodC. To prepare for the next accounting periodD. To estimate future revenues答案：B4. What is the term for the process of recording transactions in the general journal?A. JournalizingB. PostingC. ClosingD. Adjusting答案：A5. Which of the following is a type of liability?A. Common stockB. Retained earningsC. Accounts payableD. Dividends payable答案：C6. What is the accounting term for the cost of goods sold?A. COGSB. CGSC. COSD. SGA答案：A7. What is the purpose of a trial balance?A. To summarize the financial statementsB. To prove the accuracy of the accounting recordsC. To calculate the net incomeD. To determine the value of assets答案：B8. What is the accounting term for the amount of money a company owes to its suppliers?A. Accounts receivableB. Accounts payableC. Notes payableD. Accrued liabilities答案：B9. What is the term for the process of transferring journal entries to the ledger accounts?A. JournalizingB. PostingC. ClosingD. Adjusting答案：B10. Which of the following is not a financial statement?A. Balance sheetB. Income statementC. Cash flow statementD. Budget答案：D二、简答题（每题10分，共30分）1. Explain the difference between revenue and income.答案：Revenue refers to the inflow of cash or other assets from normal business operations. Income, on the other hand,is the net result of revenues and gains minus the expensesand losses. It is a measure of profitability over a period of time.2. What are the steps involved in the accounting cycle?答案：The accounting cycle involves the following steps: 1) Identifying and recording transactions, 2) Journalizing, 3) Posting to the ledger accounts, 4) Preparing a trial balance, 5) Adjusting entries, 6) Posting adjustments, 7) Preparing an adjusted trial balance, 8) Closing entries, and 9) Preparing financial statements.3. What is the purpose of depreciation in accounting?答案：Depreciation is the systematic allocation of thecost of a tangible asset over its useful life. It is used to match the expense of using the asset with the revenue it generates over time, in accordance with the matchingprinciple.三、案例分析题（每题25分，共50分）1. Assume you are the accountant for a company that has just purchased a piece of equipment for $50,000. The equipment is expected to have a useful life of 5 years and no residual value. Calculate the annual depreciation expense using the straight-line method.答案：The annual depreciation expense using the straight-line method is calculated as follows:Cost of the equipment = $50,000Useful life = 5 yearsAnnual depreciation expense = (Cost of the equipment –Residual value) / Useful lifeAnnual depreciation expense = ($50,000 – $0) / 5 = $10,0002. A company has the following transactions for the month of January:- Purchased inventory on credit for $20,000.- Sold inventory on credit for $30,000.- Paid cash for office supplies of $1,000.- Received cash from customers for $25,000.- Paid cash for salaries of $15,000.Prepare the journal entries for these transactions.答案：a) Purchase of inventory on credit:Dr. Inventory $20,000Cr. Accounts Payable $20,000b) Sale of inventory on credit:Dr. Accounts Receivable $30,000Cr. Sales Revenue $30,000c) Payment for office supplies。

美国注册管理会计师(CMA) 2.财务报表组成——资产负债表、损益表、所有者权益变动表

价值的部分留存收益(retained earnings) – 公司未分配的收益
库存股
定义库存股（Treasure Stock）：公司可以回购部分已发行普通股而自己持有持有目的 1. 激励员工 2. 保持股价 3. 增加每股收益 4. 防止被收购
所有者权益变动表
所有者权益变动表(statement of stockholders’ equity) 企业需要对其股东账户中期初和期末余额进行调整，而这项工作是由
表上许多报告项目资产负债表必须省去一些不能客观记录但具有财务价值的项目
流动资产
定义流动资产(current assets)是指，现金和企业预计在一年或一个经营周期内（视两者孰长）将会变现、出售或消耗的资产举例现金(cash) 通常被认为是由货币和活期存款（存在金融机构中如需使用即可得到的资金）组成的现金等价物(cash equivalents) 是在三个月或更短的期间内到期的高流动性的短期投资
CMA P1 中文课程
财务报表组成—— 资产负债表、损益表、所有者权益变动表
思考
财务报表的内容有哪些？谁会使用财务报表？财务报表的用途是什么？
财务报表的组成
财务报表 ① 资产负债表 ② 利润表 ③ 现金流量表 ④ 留存收益表、或所有者权益变动表 ⑤ 报表附注
公司概述基于的会计方法重要会计政策合同情况日后事项或有事项或重大非付现投资和筹资活动的披露
和评估企业的资本结构提供必要的基础分析师通过资产负债表来评估企业的流动性、偿债能力和财务弹性
资产负债表
资产负责表的局限大多数资产和负债是按历史成本(historical cost)报告的。因此，资
产负债表中的信息经常被批评没有报告更相关的公允价值(fair value) 企业需要通过判断(judgments)和估计(estimates)来确定资产负债

《管理会计》名词中英文对照keyterms

《管理会计》名词中英文对照keyterms管理会计key termsChapter11、activity-based management 作业管理2、certified internal auditor（CIA）注册内部审计师3、Certified management accountant（CMA）注册管理会计师4、certified public accountant（CPA）注册会计师5、continuous improvement 持续改进6、controller 管理员7、controlling 控制8、customer value 客户价值9、decision making决策10、electronic business（e-business）电子商务11、electronic commerce（e-commerce）电子商务12、employee empowerment 员工激励13、ethical behavior 道德行为14、external linkages 外部联系15、feedback反馈16、financial accounting information system 财务会计信息系统17、industrial value chain 产业价值链18、internal linkages外部联系19、internal value chain内部价值链20、line position 直接职能21、management accounting information system管理会计信息系统22、performance reports 业绩报告23、planning计划24、postpurchase costs 售后服务成本25、staff positon间接职能26、strategic cost management 战略成本管理27、strategic decision making 战略决策28、supply chain management 供应链管理29、total product 总产量30、total quality management 全面质量管理31、treasurer 财务主管Chapter21、absorption-costing（full-costing）income完全成本法收益2、activity 作业3、activity-based costing（ABC）作业成本法4、activity-based management（ABM）作业成本管理5、activity-based management（ABM）accounting systerms作业成本管理会计系统6、administrative cost管理费用7、allocation 分摊8、conversion cost 转换成本9、cost 成本10、cost object 成本对象11、cost of goods manufacture 产品制造成本12、cost of goods sold 产品销售成本13、direct cost 直接成本14、direct labor 直接人工15、direct materials 直接材料16、direct tracing直接追溯17、driver tracing动因追溯18、drivers 动因19、expenses 费用20、functional-based costing（FBC）基于功能的成本法21、functional-based management 基于功能的管理22、functional-based management（FBM）accounting systems基于功能管理的会计系统23、heterogeneity 异质性24、indirect costs 间接成本25、inseparability 不可分离性26、intangibility 无形27、internal value chain 内部价值链28、marking（selling）cost 销售费用29、noninventoriable（period）costs 非存货成本（期间费用）30、nonproduction costs 非生产成本31、nonunit-level driver非单位水平动因32、opportunity cost 机会成本33、overhead 制造费用34、perishability 非持久性35、prime cost 主要成本36、processes 流程37、product cost 生产成本38、Production costs 生产成本39、production（unit-level）drivers 产品单位水平动因40、services 服务41、supplies供应品42、tangible products 有形产品43、traceablility 可追溯性44、tracing 追溯45、work in process在产品Chapter31、best-fitting line 最佳拟合线2、coefficient of correlation 相关系数3、coefficient of determination 确定系数4、committed fixed expenses 承诺性固定费用5、committed resources承诺性资源6、cost behavior成本性态7、cost formula 成本公式8、dependent variable 因变量9、discretionary fixed expenses选择性固定费用10、fixed activity rate 固定作业分配率11、fixed cost 固定成本12、flexible resources 可变性资源13、goodness of fit 拟合优度14、high-low method 高低点法15、independent variable自变量16、intercept parameter 截距参数17、long run 长期18、method of least squares 最小二乘法19、mixed cost混合成本20、multiple regression 多元回归21、practical capacity 实际生产能力22、relevant range 相关范围23、scattergraph 散点图24、scatterplot method 散点图方法25、short run 短期26、slope parameter 斜率参数27、step cost 阶梯成本28、variable activity rate 变动作业分配律29、variable cost 变动成本Chapter41、activity attributes 作业属性2、activity-based costing（ABC）systerm 作业成本制度3、activity dictionary作业词典4、activity drivers 作业动因5、actual costing 实际成本计算法6、applied overhead分配制造费用7、bath-level activities 批量水准作业8、consumption ratio消耗比率9、cost assignment 成本分配10、cost measurement 成本计量11、expected activity capacity预期的作业能力12、facillity-level activities 设备水准作业13、homogeneous cost pool 同质成本库14、nonumit-level activity drivers 非单位水准作业动因15、Normal activity capacity 正常作业能力16、normal costing正常成本计算法17、overapplied overhead 多分配制造费用18、overhead variance 制造费用差异19、pool rate 成本库分配率20、practical activity capacity 实际作业能力21、predetermined overhead rate 预定制造费用分配率22、primary activity 基本作业23、product diversity 产品差异24、product-level （sustaining）activities 产品水准维持作业25、resource drivers 资源动因26、secondary activity 从属作业27、theoretical activity capacity理论作业能力28、underapplied overhead 少分配制造费用29、unit cost单位成本30、unit-level activities 单位水准作业31、unit-level activity drivers单位水准作业动因Chapter71、causal factors起因2、common costs 共同成本3、direct method 直接法4、producing departments 生产部门5、reciprocal method互逆法6、sequential（or step）method顺序法7、support departments 支持部门。

CH003TEST

CH003TESTCHAPTER 3 ADJUSTING ACCOUNTS AND PREPARING FINANCIAL STATEMENTS True/False ：1.The time period principle assumes that an organization's activities can be divided into specific timeperiods.Answer: True2.Interim statements report a company's business activities for a 1-year period.Answer: False3.Adjusting entries are made after the preparation of financial statements.Answer: False4.Two main accounting principles used in accrual accounting are matching and full closure.Answer: False5.The revenue recognition principle is the basis for making adjusting entries that pertain to unearned andaccrued revenues.Answer: True6.The matching principle requires that expenses get recorded in the same accounting period as the revenues that are earned as a result of the expenses, not when cash is paid.Answer: True7.The cash basis of accounting is an accounting system in which revenues are reported when cash isreceived and expenses are reported when cash is paid.Answer: True8.The accrual basis of accounting is an accounting system in which revenues are reported as earned whencash is received.Answer: False9.Recording revenues early overstates current-period income; recording revenues late understates currentperiod income.Answer: True10.Recording expenses early overstates current-period income; recording expenses late understates currentperiod income.Answer: False11.The accrual basis of accounting reflects the principle that revenue is recorded when it is earned, notwhen cash is received.Answer: True12.Accrued expenses at the end of one period are expected to result in cash payments in one or more futureperiods.Answer: True13.Accrued revenues at the end of one period are expected to result in cash payments in one or more futureperiods.Answer: False14.Under the accrual basis of accounting, adjustments are often made for prepaid and unearned items.Answer: True15.The entry to record a cash receipt from a customer when the service to be provided has not yet beenperformed involves a debit to an unearned revenue account.Answer: False16.Financial statements can be prepared directly from the information in the adjusted trial balance.Answer: TrueMultiple Choice：1.The time period principle assumes that an organization's activities can be divided into specific timeperiods including:A)Months.B) Quarters.C) Fiscal years.D) Calendar years.E) All of the above. Answer: E2.Interim financial statements refer to financial reports:A)That cover less than one year, usually spanning one, three, or six-month periods.B) That are prepared before any adjustments have been recorded.C) That show the assets above the liabilities and the liabilities above the equity.D) Where revenues are reported on the income statement when cash is received and expenses arereported when cash is paid.E) Where the adjustment process is used to assign revenues to the periods in which they areearned and to match expenses with revenues.Answer: A3.The length of time covered by a set of periodic financial statements is referred to as the:A)Fiscal cycle.B) Natural business year.C) Accounting period.D) Business cycle.E) Operating cycle. Answer: C4.The accounting principle that requires revenue to be reported when earned is the:A)Matching principle.B) Revenue recognition principle.C) Time period principle.D) Accrual reporting principle.E) Going-concern principle. Answer: B5.Adjusting entries:A)Affect only income statement accounts.B) Affect only balance sheet accounts.C) Affect both income statement and balance sheet accounts.D) Affect only cash flow statement accounts.E) Affect only equity accounts. Answer: C6.The broad principle that requires expenses to be reported in the same period as the revenues that wereearned as a result of the expenses is the:A)Recognition principle.B) Cost principle.C) Cash basis of accounting.D) Matching principle.E) Time period principle. Answer: D7.Adjusting entries are journal entries made at the end of an accounting period for the purpose of:A)Updating liability and asset accounts to their proper balances.B) Assigning revenues to the periods in which they areearned.C) Assigning expenses to the periods in which they are incurred.D) Assuring that financial statements reflect the revenues earned and the expenses incurred.E) All of the above. Answer: E8.Prepaid expenses, depreciation, accrued expenses, unearned revenues, and accrued revenues are allexamples of:A)Items that require contra accounts.B) Items that require adjusting entries.C) Asset and equity.D) Asset accounts.E) Income statement accounts. Answer: B9.The profit margin:A)Reflects the percent of profit in each dollar of revenue.B) Is also called return on sales.C) Can be used to compare a firm's performance to its competitors.D) Is calculated by dividing net income by net sales.E) All of the above. Answer: E10.A company had $9,000,000 in net income for the year. Its net sales were $13,200,000 for the sameperiod. Calculate its profit margin.A)17.5%.B) 28.0%.C) 62.5%.D) 160.0%.E) 68.1% Answer: ECalculation: $9,000,000/$13,200,000 = 68.1%11.Accrued revenues:A)At the end of one accounting period often result in cash receipts from customers in the nextperiod.B) At the end of one accounting period often result in cash payments in the next period.C) Are also called unearned revenues.D) Are listed on the balance sheet as liabilities.E) Are recorded at the end of an accounting period because cash has already been received forrevenues earned. Answer: A12.An account linked with another account that has an opposite normal balance and that is subtracted from the balance of the related account is a(n):A)Accrued expense.B) Contra account.C) Accrued revenue.D) Intangible asset.E) Adjunct account. Answer: B13.The periodic expense created by allocating the cost of plant and equipment to the periods in which theyare used, representing the expense of using the assets, is called:A)Accumulated depreciation.B) A contra account.C) The matching principle.D) Depreciation.E) An accrued account. Answer: D14. On April 1, 2007, a company paid the $1,350 premium ona three-year insurance policy with benefits beginning on thatdate. What will be the insurance expense on the annual income statement for the year ended December 31, 2007?A)$1,350.B) $450.C) $1,012.50.D) $337.50.E) $37.50. Answer: DCalculation: $1,350 x 9/36 = $337.5015.Unearned revenue is reported in the financial statements as:A)A revenue on the balance sheet.B) A liability on the balance sheet.C) An unearned revenue on the income statement.D) An asset on the balance sheet.E) An operating activity on the statement of cash flows. Answer: B16.Which of the following does not require an adjusting entry at year-end?A)Accrued interest on notes payable.B) Supplies used during the period.C) Cash invested by owner.D) Accrued wages.E) Expired portion of prepaid insurance. Answer: C。

CFA二级所得税的学习笔记分享

CFA二级所得税的学习笔记分享CFA二级所得税的学习笔记分享1、Income tax expense = Taxes payable +Deferred income tax expense, 这右边第二项正的就是deferred taxliability，负的就是deferred tax asset。

这个公式简单理解成所得税费用就包括实际交税(cashitem)和应该补交或可以抵扣的那部分税(non-cash item)。

这也表明，deferred taxasset/liability这两个科目的产生都是以difference will reverse in future years为前提的。

2、Deferredtax liability之所以产生，是因为今年实际交税少了，以后还是要补的，所以可简单理解成负债。

也就是说taxes payable< income tax expense, ie. Taxable income < pretax income. Deferredtax asset相反的产生过程，无需多讲。

但它有valuation allowance，也是一个备抵项目，但需要记住的是valuationallowance applies exclusively to deferred taxasset。

也是，出于谨慎性原则，对于资产才要备抵一下，负债从来不算这个的。

另外，涉及到备抵账户的，往往是管理层操纵业绩的一种手段，这种职业敏感性是要不断加强的。

比如allowance就会增加tax expense, 那相应净利润就会减少。

3、Deferred tax liability/asset的计算：列出两张表，分别based on tax return和financial reporting，然后两相比较，很容易得出。

4、Liabilitymethod和Deferred method的最大区别：the treatment of changes in tax rates. Thedeferred method is unaffected by changes in tax rates while theliability method adjusts deferred assets and liabilities to reflect thenew tax rates.5、Change in tax rates: 在Liabilitymethod方法之下，税率变动，账面上的deferredasset/ability也要revalue来反映今后它们reverse的当前价值。

IAS12 所得税

Two liability methods
The income statement liability method which focuses on the differences between taxable profit and accounting profit The balance sheet liability method which focuses on the differences between balance sheet values and tax values of assets and liabilities The resultant deferred tax figure will be the same under each method IAS 12 requires that the balance sheet liability method is used.

Example 1

An entity buys equipment for $10000 and depreciates it on a straight line basis over its expected useful life of five years. For tax purposes, the equipment is depreciated at 25% per annum on a straight line basis . The entity’s profit for each of the five years was $6000, before deducting depreciation of the equipment. The tax rate is 40% You are required to calculate the deferred tax liabilities at the end of each of the five years and the income statements of the entity for each of the five years.

Consolidated Income Statement合并损益表(附辅助习题解析)

General reserve

H + H’s share of S + H’s share of A =2,000 + 80%*1,000 + 30%*3,000 = 3,700
Retained profit bfwd

H + H’s share of S’s reserves post acquisition + H’s share of A’s reserves post acquisition – goodwill impairment to start of period

For s put in mgt fee payable and then cancel with mgt fee rec in H = net result = 0
Sundry income = mgt fee from a – does not cancel

adjustment also part of non controlling interest and share in a calculations
– – – – Inter-company sales Provision for unrealised profit on inventory Inter-company dividends and interest Other – management fee and non-current asset
Share in A

H’s share of A’s profit after tax – purp – other adjustments included in profit after tax Other adjustments = management fee and nca adj in A Purp of A = 50 %* (4,000-2,000) = 1,000 management fee if not included = 5,000 Nca adj = adding back 2,000 loss on sale of nca Adjusted profit after tax = 22,000 -1,000 – 5,000+ 2,000 = 18,000 Share in A =30% * 18,000= £5,400

python财务应用例题

python财务应用例题Python是一种强大的编程语言，它不仅可以用于数据分析和机器学习，还可以应用于财务领域。

在这篇文章中，我们将通过一些例题来展示如何使用Python进行财务应用。

1. 计算投资回报率投资回报率是衡量投资的效益的指标。

假设你投资了10000美元，并在一年后获得了12000美元的收益。

我们可以使用Python来计算投资回报率。

```pythoninvestment = 10000earnings = 12000roi = (earnings - investment) / investmentprint("投资回报率为：", roi)```这段代码将输出投资回报率为0.2，即20%。

2. 计算贷款利息假设你从银行贷款100000美元，利率为5%，贷款期限为10年。

我们可以使用Python来计算每月的还款金额和总利息。

```pythonloan_amount = 100000interest_rate = 0.05loan_term = 10monthly_interest_rate = interest_rate / 12num_payments = loan_term * 12monthly_payment = (loan_amount * monthly_interest_rate) / (1 - (1 +monthly_interest_rate) ** -num_payments)total_interest = (monthly_payment * num_payments) - loan_amountprint("每月还款金额为：", monthly_payment)print("总利息为：", total_interest)```这段代码将输出每月还款金额为1060.66美元，总利息为27198.66美元。

SAP-AM

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Assets Master Data
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01 02 03 10 15 20 30 31 32 41 51 Book depreciation Special tax depreciation Special depreciation reserve Valuation of net assets Balance sheet for tax purposes Cost-accounting depreciation Consolidated balance sheet (local curr.) Consolidated balance sheet (group curr.) Book depreciation in group currency Investment support (reducing APC) Investment support as a reserve

Topic7Part2

ACCT5013. Advanced Accounting MTopic 7: Accounting for IncomeTax: Part 2Overview of this lecture •Recall last lecture•AASB 112 Overview & Rationale•Steps in Tax effect accounting:•1. Current tax consequences•Taxable profit and current tax•2. Future Tax consequences2F t T•Continue Future Tax Consequences •Use worksheet•Journal entries•Future yearsOther issues e.g. recognition •Other issues e g recognitionFuture Tax Consequences•‘Balance sheet’ approachy g•Analysing the assets and liabilities recorded in the statement of financial position•Where carrying amounts(accounting) differ from tax bases(ie temporary differences exist)i t)•Temporary differences arise for items when accounting and tax treatments differ eg depreciation ratesd i ti tTwo Step Process•Step 1 –Current Tax Consequences•Calculate current taxable profit(I)C l l t t t bl fit•(II)Calculate current tax liability(III)Prepare journal entries for current tax•(III) Prepare journal entries for current taxconsequencesStep 2 Future Tax Consequences•Step2–Future Tax Consequences•(I)Determine carrying amount and tax base of assets/ liabilities•(II) Identify and classify temporary differences•(III) Calculate deferred tax assets and liabilities•(IV) Prepare journal entries for future taxconsequencesRecall Step 2 –(I)CA and Tax Base ofAssets/ Liabilities •Assets:A tTax Base CA FTA + FDATax Base=CA–FTA+FDA •Liabilities:Tax Base = CA –FDA•Revenue Rec’d in Advance:R R’d i AdTax Base = CA –Rev. rec’d in advanceand not taxable infuture periods.future periodsStep 2-Step 2(II) Temporary Differences •Identify•Compare CA and Tax BaseTemporary differences•Temporary differences•Accounting balances differ from taxba a cesbalances•eg accounting balance of depreciable assetdifferent from tax balance•ClassifyDeductible……..Deferred Tax Asset•Deductible……..Deferred Tax Asset(DTA)Taxable…… Deferred Tax Liability (DTL)•Taxable……Deferred Tax Liability(DTL)Temporary DifferencesTemporary differences are classified as :•Taxable temporary differences:p y p y•If the company will pay more tax in thefutureg•Recognised as deferred tax liabilities •Deductible temporary differences:If the company will pay less tax in the future •If the company will pay tax in the future •Recognised as deferred tax assetsTaxable DifferencesAssets Liabilities CA>TB CA<TBTaxable TemporaryDifferenceMore tax payable in futureDTLExamples of Taxable Differences •Items which give rise to taxable temporary differences (assuming tax on cash basis)(g) are:•Revenue receivables•Prepaid expensesy p•Initially where Tax depreciation rates >accounting rates•Development costs capitalised and amortised (Refer Appendix A. AASB 112)Deductible DifferencesAssets LiabilitiesCA<TB CA>TBTemporaryDeductible TemporaryDifferenceLess tax payable in futureDT AExamples of Deductible Differences •Items which give rise to deductible temporary differences (assuming tax on temporary differences(assuming tax on cash basis) are for example:•Accrued expensesA d•Unearned revenueI iti ll h A ti d i ti t•Initially where Accounting depreciation rates >tax rates•Provisions for LSLProvisions for LSL•Tax losses(we do not consider these)(Refer Appendix B. AASB 112)(Refer Appendi B AASB112)You Need to Remember…………•Asset:•If CA > TB = Taxable Temp. Diff. = DTLIf CA < TB Deductible Temp. Diff. DTA •If CA<TB=Temp.Diff.=•Liability:If CA TB Deductible Temp. Diff. DTA •If CA>TB=Temp.Diff.=•If CA < TB = Taxable Temp. Diff. = DTL (p)(Refer para 16 & 25)Step 2: (III) Calculate D TA/DTL•Measurement•Deferred Tax Asset=•Deductible temporary difference x tax rate •Deferred Tax Liability=Deferred Tax=•Taxable temporary difference x tax rate •Example•If taxable temporary difference is $1000•Tax rate is 30%T t i30%•Deferred tax liability is $300Step 2: (IV) Prepare Journal entries for FutureTax ConsequencesDeferred tax liabilities/assets•Deferred tax liabilities/assets= (temporary differences) x (current tax rates)p47•and deferred tax shall be recognised as income current and deferred tax shall be recognised as income or an expense and included in the profit and loss for the pe od(S pa a58)period (AASB 112 para. 58)Change in DTL Dr Income tax expense XX•Change in DTL Dr Income tax expenseCR Deferred tax liability XX•Change in DTA Dr Deferred tax asset XXCR Income tax income XXIncome tax income XXRecognition Summary •Recognise asR ip•Tax expense or income•Current and deferred tax for periodTax payable•Tax payable•Tax payable for current period •Deferred tax assets/liabilitiesDeferred tax assets/liabilities•Change in DTA/DTL•Increase DTL/decrease DTA=tax expenseIncrease DTL/decrease DTA = tax expense•Decrease DTL/increase DTA = tax incomeRecall Steps –Future Tax consequences •Step 2 –Future Tax Consequences()y g•(I)Determine carrying amount and tax base ofassets/ liabilities()y y y•(II) Identify and classify temporary differences•(III) Calculate deferred tax assets andliabilities•Do these in worksheet•(IV) Prepare journal entries for future tax()p jconsequencesWorksheet•Used to:•Calculate tax bases for items•Calculate temporary differences for items •To Summarise:p y•Total taxable temporary differences•Total deductible temporary differences•May need to exclude if exempty•Calculate amounts of DTA & DTL you need to show at THIS balance date•Determine change in DTA/DTL & associatedtax expense/incomes required to beaccounted forDetermination of Tax Assets and Liabilities : Worksheet Item Carrying amount FutureTaxableamount Future Deductible amount Tax base Taxable Temporary Difference Deductible Temporary DifferenceAssetLiabilityTemporaryDiffDifferences Exempt TDsNet Temp DifsThis relates to movement DTL******DTA******Beginningmovement during year –we do not consider in Beginning BalancesMovement**Adj t t consider in this topic AdjustmentExample: Extract from Statement of Financial PositionThe machine was purchased Assets Cash 105,000 •The machine was purchased one year ago and originally cost $10,000. Depreciation is calculated at 25% for Accounts Receivable 14,000Machine 7500accounting purposes but at 50% for taxation purposes •$12,000 of consulting i d i Machine 7,500Liabilities Accounts payable 5,000revenue was received in advance. $3,000 is included as revenue. Tax includes this as income when the cash is p y Loan 100,000 Interest accrued 4,000 Consulting revenue 9000as income when the cash is received.•The interest relates to a loan taken out on 1 January this Consulting revenue received in advance 9,000 y year for $100,000. Interest is calculated at 8% per annum and is payable on December 31Tax only allows interest 31. Tax only allows interest as a deduction when paid .Example -assets amount amount diff’sdiff’s14000 14000 Accounts 14,000 0 0 14,000 0 - Machine 7,500 (7,500) 5,000 5,000 2,500•Go through each asset and:g•Determine tax base•Compare to carrying amount p y g•Classify any temporary difference•CA –FTaxable Amts + FDeductible Amts CASH•105000=105000-+0105,000 = 105,000 -0+ 0•CA –TB = 105,000 –105,000 = no difference Accounts receivable•No doubtful debts hereo doubt u debts e e•Assume sales etc recorded on accrual basis •14,000 = 14,000 –0 + 014000=140000+0•CA –TB = 14,000 –14,000 = no difference•Tax base =CA –FTaxable Amts + FDeductible Amts CA Amts+FDeductible MachineRecall –purchased 1 year ago at cost $10,000$10000Dep’n accounting/4 years; tax 2 years5,000 7,500 7,500 5,000•5,000=7,500-+5,000•CA –TB = 7,500 –5,000= 2,500 difference•Taxable Temp DifferenceT bl T DiffExample -Liabilitiesy gCarrying Taxable Ded’ble Tax base Taxable Ded’ble Accounts 5,000 0 0 5,000 0 -,,Loan 100,000 0 0 100,000 0 -g y•Go through each liability and:•Determine tax base (2 formulas)•Compare to carrying amountp y g•Classify any temporary differenceLiabilities :(not revenue received in advance)•Tax base = CA -Deductible AmtsTax base=CA Deductible Amts ACCOUNTS PAYABLE•Assume inventory/COGS etc recorded accrual basis•Tax base 5,000= 5,000–0•CA –TB = 5,000 –5,000 = no differenceCA TB=50005000=no differenceLOAN•100,000= 100,000–0,,•CA –TB = 100,000 –100,000 = no differenceLiabilities :(not revenue received in advance)•Tax base = CA -Deductible AmtsT b CA D d tibl A t Interest Accrued•Recall: accrued expense but not deductible until paid in later period deductible until paid in later period•Tax base 0= 4,000 –4,000•CA –TB = 4,000 –0 = 4,000CA TB400004000•Deductible Temporary DifferenceLiabilities:(revenue received in advance)•Tax base = CA -Revenue received in advance which will not be taxed in future periodshi h ill t b t d i f t i d CONSULTING REVENUE IN ADVANCE •Recall: $12,000 received but only $3,000 revenue; rest $9,000 liability; assesses for tax revenue;rest$9,000liability;assesses for tax when received•0= 9,000 –9,000=90009000•CA –TB = 9,000 –0 = 9,000•Deductible Temporary Differencep p •NOTE:Worksheet in this example shows separate formula for this –Not in examWorksheet: Add differencesCarrying Tax base Taxable DeductibleC i Future Future T blD d tibl AssetsReceivableAccounts payable 5,000005,0000-R EVENUE RECEIVED CarryingC ifutureTemporary Differences2,50013,000 T Diff250013000Rest of worksheetTemporary 13,000Temporary 2,50013,000N T Dif 250013000Net Temp Difs2,50013,000Deferred tax asset (1)3,900Deferred tax asset (1) 3,900Adjustment 3900.Differences x tax rateAdjustment7503,900•1. Differences x tax rate •2Assume no previous balances 2. Assume no previous balancesMachine 75005000500025007,5007,5005,0005,0002,50010000010000Loan100,00000100,00-tAmount included not Tax baseIN ADVANCEamount in advance in advanceDeferred tax liability 750Journal entries for DTA & DTL •Once the worksheet is complete the movement in DTA and DTL is recognised as follows:•Income tax expense Dr$xDeferred tax liability Cr$x •Deferred tax liability•Deferred tax asset Dr$x•Income tax expense/income Cr$x •Income tax expense will now consist of:Income tax expense will now consist of:•Expense related to Current tax liabilityg•Net change in deferred tax accountsJournal entries N i b lJournal entries: No previous balances Df d t li bilitDeferred tax liability 750Beginning balances00Adjustment 7503,900j 50,CR Tax Expense/income 3,900pTax expense and entriesJune 30 Income Tax ExpenseCurrent Tax Liability DR 28,950Current Tax LiabilityCR28,950 Being recognition of current tax liabilityDeferred Tax Asset DR 3,900IncomeTaxIncome CR3,900Being recognition of increase in deferred tax assetsIncomeTaxExpense DR750DeferredTaxLiability CR750Being recognition of increase in deferred tax liabilitiesLets assume now Previous balancesAssets balances for:Assets Accounts 14,000balances for:Machine 7500• DTL Need to ADJUST these so Machine 7,500Accounts payable 5,000Liability WORKSHEETLiabilityi d i dreceived in advanceJournal entries P i b lJournal entries: Previous balancesDf d t li bilitDeferred tax liability750Adjustment500(1,100)Cr Deferred Tax Liability500Exempt Temporary DifferencesItem Carryingamount FutureTaxableamountFutureDeductibleamountTaxbaseTaxableTemporaryDifferenceDeductibleTemporaryDifferenceAssetLi bilitLiabilityTemporaryDifferencesExempt TDsNet Temp DifsNet Temp DifsDTL******DTA****** BeginningBalancesMovement**AdjustmentExempt temporary differences•In some cases although temporary differences not allowed to recognise DTA/DTL:not allowed to recognise DTA/DTL:•We consider 2 examples:•Goodwill•Buildings where depreciation not deductibleIN these cases:•IN these cases:•Calculate temporary differencesDeduct (as exempt temporary differences)•Deduct(as exempt temporary differences)•Use NET temporary differences to calculateDTA/DTL•Example in topic review questionsExempt Temporary Differences-eg GoodwillItem Carryingamount FutureTaxableamountFutureDeductibleamountTaxbaseTaxableTemporaryDifferenceDeductibleTemporaryDifferenceAssetGoodwill40,000(40,000)0040,000 LiabilityTemporary Diff 100,00050,000DifferencesExempt TDs40,000Net Temp Difs60,00050,000 DTL*18,000DTA*15,000 BeginningBeginningBalancesMovement**Adj t tAdjustmentOffsetting tax assets and liabilities•Both current and deferred tax assets and liabilities are to be offset against each other and a net figure shown in the statement of financial position:•Current taxCurrent tax•Deferred tax•You are not required to offset in this courseOffsetting: Example in study guide C t T Li bilit2895028950Current Tax Liability28,95028,950Increases in deferred tax liabilitiesIncreases in deferred tax liabilitiesJune 30DR28,950Income Tax ExpenseCurrent Tax Liability CR 28,950 Being recognition of current tax liability from example Being recognition of current tax liability from example2(a)- as beforeD f d T A3150Deferred Tax Asset DR3,150Income Tax Revenue CR 3,150 Being recognition of net increase in deferred tax assetsg g(after offsetting deferred tax liabilities) from example 2(b) and related tax revenueMeasurement summary •Recognise current and deferred tax for period as income or expense•Measure change/movements in DTA/DTLp•Increase DTL/decrease DTA = tax expense•Decrease DTL/increase DTA = tax income •Offsetting•We assume conditions metIn this course do not need to offset unless advised •In this course do not need to offset unless advisedRevising StepsStep 1 –Current Tax ConsequencesSt1C t T C(I)Calculate current taxable profit 9(II)Calculate current tax liability 9(III) Prepare journal entries for current tax consequences 9 Step 2 –Future Tax Consequences(I)Determine carrying amount and tax baseof assets/ liabilities 9(II) Identify and classify temporary differences 9(III) Calculate deferred tax assets and liabilities 9()p j q(IV) Prepare journal entries for future tax consequences 9Recognition of Deferred Tax Assets andLiabilities•Conceptual Framework:C t l F k•Probable future sacrifice/Reliable measurement •DTLs AASB 112 (para 15)DTLs AASB112(para15)•Assumes that both probability and measurementcriteria are satisfied for DTLs•DTAs AASB 112 (para 24)•To extent probable that future taxable profit available to utilise DTAt tili DTA•Matter of judgment -in this course assume probable that future taxable amounts available to be utilised•Review each reporting period•We assume recognition criteria metNot considered •Changes in tax rates •Disclosures•Payment of tax by installmentsTutorial•For tutorials do questions7 -9•In tutorials will go through question 9 In tutorials will go through question9。

美国CPA考试知识点：联邦个人所得税体系

美国CPA考试知识点：联邦个人所得税体系美国CPA考试知识点：联邦个人所得税体系众所周知，在REG的考试中，联邦税法的内容占到了60%以上的分值，而个人所得税更是重中之重。

可以说，掌握个税知识是通过REG考试的充分必要条件。

回顾公式框架：Gross Income 总收入(Adjustment) 调整项(符合相关规定的费用，可以从总收入中抵减)Adjusted Gross Income 调整后总收入(AGI)(Standard Deduction) 标准扣除Or (二者间取金额较高的一方进行扣除)(Itemized Deduction) 逐项扣除(Exemption) 免税额度Taxable Income 应税收入首先一起来看一下Gross Income的计算。

Gross Income主要包括：劳务与工薪所得、股息所得、财产租赁所得、营业所得、资本利得、退休年金所得等。

大家可以根据Form 1040个人所得税表的Income栏进行学习(Form 1040 Line7-22)下面简单的`介绍一下Becker教材中提到的Gross Income的主要项目：1. Compensation for services(包括工资薪酬，奖金小费，债务减免，廉价购买，guaranteed payment，应税的福利收入)都是应税的，除了以下的三类情况)- Tax exempt interest incomeState and local government bonds/obligationsBonds of a U.S. possessionSeries EE (U.S. savings bond)3. Dividend Income(使用附表Schedule B，通常情况，股利收益都是应税的，但是有较低的税率0%，15%，20%)- Taxable Dividend(Cash= amount received; Property = FMV) - Tax-Free Distributions(Return of Capital，Stock Split，Stock Dividend，Life Insurance Dividend)4. State and Local Tax Refunds(根据去年使用的是Itemized Deduction或者Standard Deduction，来确定州/地方的退税是否应税。

uscpa考试科目税法考经分享

USCPA考试科目税法考经分享先说SIM我考得SIM很简单...会不会是因为MC太糟糕的缘故..总之考得我挺愁闷的第一道是一个PILOT然后给出了一些他的expenses,allunreimbursedandbenefits:比如freefamilyflyingtrip,mealcoveredduringflying等等记不全了然后就是分类那些事nondeductiblenon-includable,那些事taxableincome那些是deduction.很简单只要高清出那些东西的性质很容易就分出来了比如因为是.第二道employeestockoptionwithoutascertainablevaluethusordinaryincomeincludedo ntheexcercisedate.把书上的例题看懂了很容易就做出来了第三道qualifiedretirementplansubjecttoadditionaltax...楼主没找到最后写了个其他的因为是楼主可以找到的了...第四道第五道pashisaseller..然后给了很多transactions每一个transaction里面都是一些gainloss的东西问你realizedgainrecognizedgain是多少，还有这些gainloss的性质其实就是ordinary 分类...第六道M-3bookincome和taxincomereconciliation（这个在MC里面也出现了好几回）给了很多信息你要自己看那些事加归去的那些事减掉的总之不是很容易一眼就看出来的...要自己判断了具体的我也记不住了想哭...我的概念题全数是commonlawUCCagency总之考得很奇怪不是秒杀题...因为楼主感觉六七张看的很熟可是题目真的很tricky而且点很奇怪我感觉计算概念一半一半而且内容都是一些很小的点...很容易被忽略的点总之很奇怪...有一两道我真不知道在说什么...楼主第八章就看了agentsurety和businessstructure,可是除考agency之外其他内容也碰着了就是不知道了因为没看...1-4张的内容也会有很散而且考点都很偏不是主流重点比如CEOsalary的maxdeduct1,000,000虽然beckerlecture也提到过可是都是一带而过就一小块这个点被放在MC的reconil里面考的还有就是楼主考了三道gifttax的题目具体忘了..总之也很偏还有就是补充之前有jj提到一道选择题就是有哪些corp可以避免AMT这个在书里面有提到可是应该大部份人都不会注意只有一段话非主流就是持续三年若是是startup 这个amt就是5m所以正确选项是yr1,2,3income小于等于5m的那个选项...真心MC记不得了太散而且感觉思维不跟becker的书...楼主1-7看了三遍只做了becker1-4每张最多的的那些选择题楼主感觉becker的MC容易一些因为考点明确很logicalLZ大体都可以做到70%正确真正的考试题目考点真的很模糊...ambiguous...楼主时间真的不够只有三个礼拜准备的也不充分...建议有时间每张都好好看把那些准则都总结一下比较好记住他们至少可以保证常规题正确还有就是必然要做题...之前楼主也是参考其他的贴子都说重点1-5可是没想到机考出奇迹的同时也会出悲剧总感觉短时间过得人要么基础很好要么就是运气成份真的很大不建议大家那样可是实在没时间的情况下就只能赌一把了...我感觉aicpa的准则就是都是重点都会考就是这样...哎...能做的就这么多了...祝大家好运最好有充沛时间准备必然要充分利历时间充沛不等于时间长是合理的时间我感觉REG 至少四个礼拜全职温习会比较稳妥不会太panic。