andAnalysis财务报表分析

Environmental Factors
International Accounting Standards (IAS)
? Set by International Accounting Standards Board
? Not currently accepted in U.S. ? SEC under pressure to accept IAS
? C?hSecEkCA-ududiisntocdrlaqeimuraelprity(rne&osionspduienprioeenn)tdoenaceccept IAS
(Annual Report)
10-Q
(Quarterly Report)
20-F
(Registration Statement/
Annual Report [Foreign])
8-K
(Current Report)
Statutory Financial Reports
14-A
(Proxy Statement/ Prospectus)
Commission
Unions
AICPA
Lenders
Investors
Politicians
Accountants
Others
Provide input to
Financial Accounting Standards Board
Help set
Generally Accepted Accounting Principles
Industry Practices
FASB AICPA
GAAP Managers
Statutory Financial Reports (Financial Statements)
Alternative Information Sources
Economy and Industry Information
Voluntary Disclosure
Analysts
SEC
Corporate Governance
Litigation
Auditors
Enforcement and Monitoring Mechanisms
Other Users
Investors and
Creditors
Users
Form 10-K
Environmental Factors
Securities and Exchange Commission (SEC)
? Independent, quasi-judicial government agency ? Administer securities regulations & disclosures ? Can modify & set GAAP , if necessary ? Rarely directly challenges FASB ? Major player in global accounting
Financial Reporting and Analysis
McGraw-Hill/Irwin
CHAPTER
? 2004 The McGraw-Hill Companies, Inc., All Rights Reserved.
Financial Reporting Environment
Regulators
Environmental Factors
Managers of Companies
? M?aSinertesbpyonIsnibteilirtynfaotrifoanira&laAcccucroatuenretipnogrts ? ApSpliteasnadcacorudnstinBgotoarredflect business
Auditing
? S?ESCeret qbuyireIsnAteudrnitaRteioponrat l Accounting ? AuSdittaopnidniaonrdcsanBboe:ard
- clean (fairly presented)
? Not c- quurarelifnietdly(eaxccecpet pfotre) d in U.S. Auditors
activities
? M?aNnaogtecriualrdriescnrteltyioan ciscneepcetessdariyninU.S.
accountiБайду номын сангаасg
? M?aSjoEr lCobbuynisdt eonr GpAreAsPsure to accept IAS
Environmental Factors
Level II
FASB Technical Bulletins
AICPA Industry Audit & Accounting Guidelines
AICPA Statement of
Position
Level III
FASB Emerging Issues Task Force
AICPA Practice Bulletins
Level IV (Least authoritative)
FASB Implementation
Guides
AICPA Interpretations
Recognized and Widely Used Industry
Practices
Environmental Factors
Securities and Exchange
Other SEC Filings
Earnings Announcements
? Key summary measures (pre-audit) ? Often one to six week lag ? Informative to market ? Lacks supporting financial details
Environmental Factors
GAAP
Generally Accepted Accounting Principles
Level I (Most authoritative)
FASB Standards and Interpretations
APB Opinions
AICPA(CAP) Accounting Research Bulletins