<b>Conceptual framework<br>概念框架</b>
<b>Needs for conceptual framework<br>概念框架的特点</b><br>
<b>Advantages<br>优点</b>
一致的概念基础引领标准化的会计实践
A <b><font color="#ff0000">consistent</font></b> conceptual base should lead to standardized consistent accounting practices<br>
标准的制定较少受到政治压力
<ol><li>The development of standards is <b><font color="#ff0000">less</font></b> subject to <font color="#ff0000"><b>political pressure</b></font></li></ol><br>
避免以随意的或灭火式的方式制定标准
<b><font color="#ff0000">Avoids haphazard and fire-fighting way</font></b> to setting standards<br>
有些准则可能集中于损益，而有些准则可能集中于净资产的估值（资产负债表）
Some standards may concentrate on <font color="#ff0000"><b>profit or loss </b></font><br>whereas may concentrate on <b><font color="#ff0000">the valuation of net assets</font></b>(statement of financial position<br>
<b>Disadvantages <br>缺点</b>
不同用户有不同需求，不能考虑到所有用户的需求。而且不同目的或用途，可能需要不同的会计基础<br>
<font color="#ff0000"><b>Different</b></font> users has different needs. The needs for all users cannot be considered. <br>Different purposes or uses may require different conceptual bases.<br>
<b>Scope of conceptual framework<br>概念框架的范围</b><br>
<b>The objective of financial reporting<br>财务报告的目标</b><br>
提供财务信息
Provide <b style="color: rgb(255, 0, 0);">financial information </b><font color="#000000">about the reporting entity</font><br>
有助于经济利益相关者做出经济决策<br>
is <font color="#ff0000"><b>useful</b></font> to existing and potential investors, lenders and other creditor<br> in <font color="#ff0000" style="font-weight: bold;">make decision </font><font color="#616161">about provide resource to the entity</font><br>
<b>The qualitative characteristics of useful financial information<br>有用财务信息的定性特征</b><br>
<b><font color="#ff0000">Fundermental</font> qualitative characteristics<br></b>基本特征（有用与否）
<font color="#ff0000">Revalance</font><br>相关性<br>
重要性----信息是重要的，如果遗漏或遗漏它可能会影响决策
Materiality---Information is material if ommiting it or missing it could influce decisions <br>
<font color="#ff0000">Faithiful representation</font><br>如实反映
完整性----包含所有必要信息
Complete----all information necessary<br>
中立----无偏见
Neutral----without bias<br>
Free from error
无误----现象描述无误无遗漏，过程无误<br>
Free from errors----no errors or omissions in the description of phenomenon and no errors made in the process<br>
经济实质重于法律形式<br>
<font color="#ff0000">Economic</font> substance over<font color="#ff0000"> legal</font> form<br>
测量不确定----有合理估计
uncertain measurement----reasonable estimates
<b><font color="#ff0000">Ehancing </font><font color="#616161">qualitative charateristics<br></font></b>锦上添花
<font color="#ff0000" style="">Comparability</font><br>可比性
横向科比&纵向可比<br>
<font color="#ff0000">Comparability</font> with other entities& same rntity for another period<br>
Consistency----same accounting methods for the same items
可验证性----不同信息观察者可以达成公式<br>
Different knowledgable and independent observers could reach consensus<br>
<font color="#ff0000">Timeliness</font><br>及时性
信息越旧越没用
The older the information is less useful it is<br>
<font color="#ff0000">Understandability</font><br>可理解性
呈现的信息清晰明了<br>
Present information clearly and concisely<br>
不意味着排除本身就复杂的信息
Not mean excluding information about inherently complex phenomena<br>
<b>Accounting concepts&consumptions<br>会计概念假设</b>
Underlying assumption<br>基本假设
持续经营
Going concern<br>
在未来持续经营（>12个月）
continuing in operation in foreseeable future(>12 months)<br>
YES----持续经营假设
Going concern<br>
NO----破产基础
Break-up basis<br>
Accruals basis<br>权责发生制<br>
根据交易或事项的发生时间进行会计处理，确认影响<br>
The effects of transactions or other events are <font color="#ff0000">recognised when they are occur</font><br>
而不是收到或支付现金等价物的时候
and not as cash or its equivalent is received or paid<br>
<b>Elements of financial statements<br>财务报表要素</b>
Statement of financial position<br>资产负债表<br>
Asset
由过去的交易或事项形成，由企业拥有或控制的资源
A rescource controlled by an entity as a result of past events<br>
预期会给企业带来经济利益的流入
and from which future economic benefits are expected to follow to the entity
Liability<br>
由过去的交易或事项导致的现时义务
A present obligation of an entity arising from past events<br>
其结果会导致经济利益流出企业<br>
the settlement of which is expected to in result outflow from the entity of rescurces embodying economic benefits<br>
equity<br>
企业资产扣除负债后的剩余权益<br>
The residual interest in the asset of entity after deducting all its liabilities<br>
Statement of profit or loss<br>利润表<br>
Income<br>
资产增加或负债减少
Increases in assets or decreases in liabilities
导致所有者权益增加
that result in increases in equitity<br>
与所有者投入资本无关
other than thoses relating to contributions from holders of entity claims<br>
Expenes<br>
资产减少或负债增加
Decreases in assets or increases in liabilities
导致所有者权益减少
that resulting in decreases in equility
与所有者投入资本无关
other than those realting to distributions to holders of entity claims<br>
<b>Recognition<br>确认</b>
一项资产或负债只有在确认该资产或负债以及任何由此产生的<br>收入、费用或权益变动为财务报表使用者提供有用的信息时才<br>被确认，即<br>
An assest or liability is recognised only if recognition of that asset or liability and of any resulting income, expenses or changes in equity providers users of financial statements with information that is useful, i.e with<br>
有关资产负债及由此产生的收入、费用、所有者权益变动的相关信息<br>
Relavant information about the asset and liability and about any result income, expenses or any changes in equity;and<br>
对资产、负债以及由此产生的收入、费用或所有者权益变动的真实陈述
a faithful representation of the asset or liability and of any resulting income, expense or changes in equity<br>
<b>Measurement<br>计量</b><br>
historical cost<br>历史成本<br>
购买时的价值减折旧<br>
Historical cost accounting<br>重置成本<br>
Advantages of HCA<br>历史成本的优点
可以根据保存的会计凭证进行验证
can be verified based on accounting documents kept<br>
操纵的可能性较小
Less possibility of m,anipulation
Disadvantes of HCA<br>历史成本的缺点
过时的价值（即资产价值）
Out of date values(i.e. value of assets)<br>
夸大利润（因为利润表显示的是当前收入-过去成本）
Overstatement of profits (Because financial statements show current revenue less out-of-date costs)
current value<br>现值
Methods<br>
Fair value<br>
公允价值约等于市场价值
Fair value(≈market price)<br>
Current cost<br>
当前成本约等于重置成本
Current cost accounting <br>
current cost (replcement cost)<br>
Value in use<br>
使用价值（未来现金流量的贴现值）
Advantages of current cost accounting<br>
与信息使用者的需求相关
relevant to the needs of information users in<br>
预测未来表现和趋势
predicting future performance and trends
帮助决定是持有还是出售资产
helping to whether to decide to hold or sell assets
Disadvantages of current cost accounting<br>
Subjective judgement<br>主观判断<br>
例如使用的贴现因素或对未来现金流的预期<br>
such as discount factor used or the expection of future cash flows<br>
可靠性低 随意性高
Low level of reliabilty and high level of randomness<br>
混合价值基础<br>
Mixed value bases<br>
一些资产以当前成本计量，其他资产以使用价值或公允价值计量
Some assets will be valued at current cost, but others will be valued at the value in use or fair value<br>
<b>Captial maintenance<br>资本维护</b>
<b>Capital</b>
financial concept of captial<br>资本的金融的概念<br>
指企业净资产或权益
Refers to net assets or equity in an entity
physical concept of capital<br>资本的物理概念
指企业的生产能力，如每天的产量<br>
refers to productive capacity of the entity, for example units of output per day<br>
Entity capital<br>
revaluation surplus<br>
重估盈余
capital maintenance<br>资本维持
如果资本在该期间增加则获利，不包括对该投资者的分配或资本投入<br>
a proit is made if the capital has increased over the period, excluding any distributions to or contributions from holders of equity claims during the period<br>
financial concept of captial<br>资本的金融的概念
a profit is made if net assets increase<br>
physical concept of capital<br>资本的物理概念
a profit is made if the physical productive<br>
<b>Presentation and disclosure<br>列报与披露</b>
<b>Regulatory framework<br></b>监管框架消除各国财报差异，增进可比性<br>
<b>Needs for regulatory framework<br>监管框架的特点</b>
<b>Disadvantages<br>缺点</b>
实施国际财务报告准则的成本很高<br>
The cost of implementing IFRS is high<br>
国际财务报告准则的细节低
The low level of details in IFRS<br>
<b>Advantages<br>优点</b>
企业可以按照与外国竞争对手相同的基础来展示其财务报表，从而更容易进行比较
A business can present its financial statements on the same bais as its foreign competitoes, making comparison easier<br>
跨境上市便利化，境外融资更容易
Cross-border listing will be facilitated, make it easier to raise capital abroad<br>
拥有外国子公司的公司将使用通用的公司会计语言
Companies with foreign subsidiaries will have a common, company-accounting language<br>
作为收购或兼并目标的外国公司更容易被评估
foreign companies which are targets for takeovers or mergers can be easily appraised<br>
<b>Principles-based VS Rules based<br>基于原则 VS 基于规则</b><br>
<b>Principle based<br>IFRS</b><br>
Professional judgement<br>
No details<br>
<b>Rules based<br>US GAAP</b><br>
大规模监管
A large mass regulation<br>
判断最小化
Judgement is minized<br>
<b>IASC-IASB<br>国际会计准则委员会-国际会计准则理事会</b><br>
制定全球会计准则<br>
to develop global accounting standards<br>
推广使用和应用
to promote the use and application
实现国家会计准则和国际财务报告准则与高质量解决方案的融合<br>
to bring about the convergence of national accounting standards and IFRSs to high quility solutions<br>
<b>Setting procedures of IASB<br>IASB的设置程序</b><br>
IFRS Advisory council<br>国际财务报告准则顾问委员会<br>
IASB<br>国际会计准则理事会<br>
Discussion papers<br>讨论文件
Exposure draft<br>征求意见稿<br>
IFRSs<br>国际财务报告准则<br>
<b>IAS1 Presentation of financial statements<br>财务报表的列报</b>
<b>IAS1 covers form and content of financial statements<br>IASA涵盖的财务报表形式和内容</b>
Statement of financial position at the end of the period<br>资产负债表 累计金额(SOFP)
Statement of comprehensive income for the period<br>综合收益表 当期金额（SOCI)
Statement for the changes in equity of the period<br>本期权益变动表 当前金额（SOCIE)
Statement of cash flows for the period<br>现金流量表
cash basis<br>收付实现制
Notes<br>附注
Statement of financial position<br>资产负债表 A=E+L<br>
Current asset<br>流动资产<br>
定义
预计在主体正常经营周期内实现，为出售或消费而持有<br>
is expected to realised in, or is held for sale or consumption in, the normal course of the entity's operating cycle; or<br>
主要用于交易目的而短期持有，预计在报告期后的12个月内变现<br>
is held primarily for trading purpose or for the short term and expected to realised within 12 months of the end of the reporting period<br>
是现金或使用不受限制的现金等价物资产
is cash or cash equivalent which is not constricted in its use<br>
内容
其他流动资产
other current assetes
现金及现金等价物 <br>
cash and cash equivalents
Non-current asset<br>非流动资产<br>
定义
长期持续使用，通常跨越多个报表期<br>
for continue use in the long term, usually across several reporting periods<br>
内容<br>
物业、厂房及设备
property, plant and equipment
无形资产<br>
intangible assets
对子公司的投资
investment in subsidiary
对联营公司的投资
investment in associate
权益工具投资
investment in equity instruments
Current liabilities<br>流动负债<br>
定义
12个月内应付的债务<br>
obligations payable within 12 months
内容<br>
短期借款 <br>
short term borrowings
长期借款的当前比例(一年内到期的长期借款）<br>
current proportions of long-term borrowings<br>
短期预计负债
short term provisions
Non-current liabilities<br>非流动负债<br>
定义
未来12个月内未支付的金额<br>
amounts not payable within the next 12 months<br>
内容<br>
长期借款
long term borrowings <br>
长期预计负债
long term provisions
Equity<br>所有者权益<br>
留存收益
retained earnings<br>
权益的其他组成部分
other component of equity
Statement of comprehensive income<br>综合收益表/利润表<br>
profit for the year<br>短期内能变现的收益<br>
revenue<br>收入<br>
cost of sales<br>销售费用
gross profit<br>毛利
distribution cost<br>分配成本<br>
administrative expenses<br>管理费用<br>
other expense<br>其他费用
investment income<br>投资收益<br>
finance cost<br>财务费用
profit before tax<br>税前利润<br>
income tax<br>所得税<br>
other comprehensive income<br>短期内不能变现的收益<br>
gains/losses on property revaluations<br>财产重估收益或损失<br>
deferred tax relating to revaluation<br>与重估相关的递延所得税<br>
investment in equity instruments measured at fair value through other comprehensive income<br>以公允价值计量且其变动计入其他综合收益的权益工具投资<br>
Statement of changes in equity<br>所有者权益变动表
share capital<br>股本<br>
share premium<br>股本溢价<br>
retained earnings<br>留存收益<br>
revaluation surplus<br>重估盈余<br>
other component of euity<br>权益的其他组成部分<br>
Financial Statement Overview<br>财务报表概述
limitation of financial statements<br>财务报表的局限性
财务报表的编制是面向过去的，不能预测未来的表现和趋势<br>
presentation of financial statements is<font color="#ff0000"> past-oriented</font>, which cannot predict the future performance and trends<br>
财务报表可能被操纵以产生预期的效果
financial statements may be <font color="#ff0000">manipulated</font> to produce desired effect<br>
财务报表不包含非财务信息<br>
financial statements do <font color="#ff0000">not</font> include <font color="#ff0000">non-financial information</font><br>
由于季节性交易或接近年底的重大收购，财务报表中的数字可能无法代表全年的平均值
the figure in financial statement may not representative of the average value of the year <br>due to<font color="#ff0000"> seasonal trading</font> and major acquisition of the year<br>
creative accounting<br>创造性会计
backgrounds<br>背景<br>
企业选择的会计政策具有灵活性，例如IAS16下PPE的成本模型和重估模型<br>
there is flexibility over the accounting policy that entity choose to apply （for example cost model or revaluation modle of PPE under the IAS16<br>
并且必须运用判断和估计，例如预提保修条款的金额<br>
and over that judgements and estimates have to be applied（for example determining the amount of the amount of a warrant provision)<br>
因此，某些余额和交易的会计处理方式具有一定的灵活性，这可能会产生创造性的会计处理
as a result, there is some flexibility in how certain balances and transactions are accounted for, which can give rise to creative accounting <br>
reasons<br>原因<br>
股东和董事制作财务报表时只关注股票市场，并且在可能的情况下他们喜欢告诉分析师他们想要看到的报表<br>
share holders and directors produce the inancial statements with one eye on the stock market and, and where possible, they like to produce financial statements what they are expecting to see, for example <br>
例如
steady growth in profits<br>利润稳步增长<br>
steady dividends<br>稳定的股息
performance related pay<br>绩效工资<br>
higher share price<br>更高的股价
methods <br>工具
smoothing profits to maintain a steady upward trend<br>稳定上升的利润<br>
Provision subsequently reversed<br>马上被废除的条款
Invoicing in advance to boost revenue<br>提前开票以增加收入<br>
selling an asset pre-year and realise a profit and repurchasing it post year to end<br>在年前出售资产以实现利润并在次年回购资产<br>
reducing apparent gearing<br>减少表观传动装置<br>
off-balance finance <br>表外融资<br>
paying back a loan just before the year end, but taking it out again at the beginning of the next year<br>在年底还钱，年初再次取出<br>
