财务管理-andAnalysis(财务报表分析,台湾中兴大学)
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FASB AICPA
Industry Practices
GAAP Managers
Alternative Information Sources
Economy and Industry Information
Voluntary Disclosure
Statutory Financial Reports (Financial Statements)
activities
• M• aNnoagtecriualrdreisncrtelytioanciscenpecteesdsairny Uin.S.
accounting
• M• aSjoEr Clobubnyidset ornpGreAsAsPure to accept IAS
Environmental Factors
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
Environmental Factors
InternationΒιβλιοθήκη Baidul Accounting Standards (IAS)
• Set by International Accounting Standards Board
• Not currently accepted in U.S. • SEC under pressure to accept IAS
Financial Reporting and Analysis
McGraw-Hill/Irwin
2
CHAPTER
© 2004 The McGraw-Hill Companies, Inc., All Rights Reserved.
Financial Reporting Environment
Regulators
Level IV (Least authoritative)
FASB Implementation
Guides
AICPA Interpretations
Recognized and Widely Used Industry
Practices
Environmental Factors
Securities and Exchange
Analysts
SEC
Corporate Governance Litigation Auditors
Enforcement and Monitoring Mechanisms
Other Users
Investors and
Creditors
Users
Form 10-K
(Annual Report)
Auditing
• S•ESCerteqbuyireIns tAeurdnitaRtieopnoratl Accounting • AuSdittaonpdinaiorndscaBn obea:rd
- clean (fairly presented)
• Not -cquurarleifinedtly(exaccecpet fpotre) d in U.S. Auditors
• SEC- duinscdlaeirmperr(ensosouprineiotno) accept
• Check Auditor quality & independence
Environmental Factors
Managers of Companies
• M• aSinertebspyonInstibeirlintyaftoirofnaiar l&Aacccuoruatnetrienpgorts • ApSpltiaesnadcacrodusntiBngoatordreflect business
Level II
FASB Technical Bulletins
AICPA Industry Audit & Accounting Guidelines
AICPA Statement of
Position
Level III
FASB Emerging Issues Task Force
AICPA Practice Bulletins
Other SEC Filings
Earnings Announcements
• Key summary measures (pre-audit) • Often one to six week lag • Informative to market • Lacks supporting financial details
10-Q
(Quarterly Report)
20-F
(Registration Statement/ Annual Report [Foreign])
8-K
(Current Report)
Statutory Financial Reports
14-A
(Proxy Statement/ Prospectus)
Environmental Factors
GAAP
Generally Accepted Accounting Principles
Level I (Most authoritative)
FASB Standards and Interpretations
APB Opinions
AICPA(CAP) Accounting Research Bulletins
Commission
Unions
AICPA
Lenders
Investors
Politicians
Accountants
Others
Provide input to
Financial Accounting Standards Board
Help set
Generally Accepted Accounting Principles
Industry Practices
GAAP Managers
Alternative Information Sources
Economy and Industry Information
Voluntary Disclosure
Statutory Financial Reports (Financial Statements)
activities
• M• aNnoagtecriualrdreisncrtelytioanciscenpecteesdsairny Uin.S.
accounting
• M• aSjoEr Clobubnyidset ornpGreAsAsPure to accept IAS
Environmental Factors
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
Environmental Factors
InternationΒιβλιοθήκη Baidul Accounting Standards (IAS)
• Set by International Accounting Standards Board
• Not currently accepted in U.S. • SEC under pressure to accept IAS
Financial Reporting and Analysis
McGraw-Hill/Irwin
2
CHAPTER
© 2004 The McGraw-Hill Companies, Inc., All Rights Reserved.
Financial Reporting Environment
Regulators
Level IV (Least authoritative)
FASB Implementation
Guides
AICPA Interpretations
Recognized and Widely Used Industry
Practices
Environmental Factors
Securities and Exchange
Analysts
SEC
Corporate Governance Litigation Auditors
Enforcement and Monitoring Mechanisms
Other Users
Investors and
Creditors
Users
Form 10-K
(Annual Report)
Auditing
• S•ESCerteqbuyireIns tAeurdnitaRtieopnoratl Accounting • AuSdittaonpdinaiorndscaBn obea:rd
- clean (fairly presented)
• Not -cquurarleifinedtly(exaccecpet fpotre) d in U.S. Auditors
• SEC- duinscdlaeirmperr(ensosouprineiotno) accept
• Check Auditor quality & independence
Environmental Factors
Managers of Companies
• M• aSinertebspyonInstibeirlintyaftoirofnaiar l&Aacccuoruatnetrienpgorts • ApSpltiaesnadcacrodusntiBngoatordreflect business
Level II
FASB Technical Bulletins
AICPA Industry Audit & Accounting Guidelines
AICPA Statement of
Position
Level III
FASB Emerging Issues Task Force
AICPA Practice Bulletins
Other SEC Filings
Earnings Announcements
• Key summary measures (pre-audit) • Often one to six week lag • Informative to market • Lacks supporting financial details
10-Q
(Quarterly Report)
20-F
(Registration Statement/ Annual Report [Foreign])
8-K
(Current Report)
Statutory Financial Reports
14-A
(Proxy Statement/ Prospectus)
Environmental Factors
GAAP
Generally Accepted Accounting Principles
Level I (Most authoritative)
FASB Standards and Interpretations
APB Opinions
AICPA(CAP) Accounting Research Bulletins
Commission
Unions
AICPA
Lenders
Investors
Politicians
Accountants
Others
Provide input to
Financial Accounting Standards Board
Help set
Generally Accepted Accounting Principles