F3 Financial Accounting.docx

F3 Financial Accounting.docx

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F3FinancialAccounting

F3FinancialAccounting

胡晴

SunshineHu

Content

Chapter1IntroductiontoAccountingandConceptualFramework3

ExamplesandExercises11

Chapter2StatementofFinancialPositionandIncomeStatement13

ExamplesandExercises18

Chapter3DoubleEntryBookkeeping21

ExamplesandExercises28

Chapter4Inventory31

ExamplesandExercises36

Chapter5SalesTax39

ExamplesandExercises41

Chapter6AccrualsandPrepayments43

ExamplesandExercise47

Chapter7IrrecoverableDebtsandAllowancesforReceivables50

ExamplesandExercises55

Chapter8Non-currentAssets57

ExamplesandExercises66

Chapter9fromTrialBalancetoFinancialStatements70

ExamplesandExercises75

Chapter10BooksofPrimeEntryandControlAccounts79

ExamplesandExercises88

Chapter11ControlAccountReconciliations92

ExamplesandExercises96

Chapter12BankReconciliations99

ExamplesandExercises102

Chapter13CorrectionofErrorsandSuspenseAccounts105

ExamplesandExercises109

Chapter14IncompleteRecords112

ExamplesandExercises117

Chapter15OtherAccountingStandards120

ExamplesandExercises129

Chapter16CompanyAccounts133

ExamplesandExercises143

Chapter17StatementofCashFlow146

ExamplesandExercises153

Chapter18ConsolidatedStatementofFinancialPosition157

ExamplesandExercises167

Chapter19ConsolidatedIncomeStatement170

ExamplesandExercises175

Chapter20InterpretationofFinancialStatements178

ExamplesandExercises185

Chapter1IntroductiontoAccountingandConceptualFramework

本章作为ACCA财务会计主线的起点，旨在架构财务会计基本逻辑体系，使学员在了解其发展背景的基础上理解财务会计的重要作用及存在价值，并通过基本会计概念引入为后续学习奠定基础。

【教学目标】

本章教学目标如下：

1、从应试角度，理解并掌握财务会计基本概念，包括财务会计（financialaccounting）、管理会计（managementaccounting）、财务报告（financialreporting）、财务报表（financialstatements）、基本假设（underlyingassumptions）、信息质量（qualitativecharacteristics）、计量属性（measurementattributes）。

2、从职业素养角度，了解财务会计发展背景（background）及历程（procedures）、监管体系（regulatorysystem）与国际财务报告准则（internationalfinancialreportingstandards）、企业形式（business）与公司治理结构（corporategovernance）。

【教学重点】

本章教学重点为财务会计框架构建与基本概念思维引导。

【教学难点】

本章教学难点为会计基本假设、会计计量属性与信息质量要求的理解与应用。

【知识串联】

企业与公司治理→财务信息使用者→财务会计与财务报告→财务信息质量要求→基本假设与计量属性

【教学内容】

1、企业与公司治理—BusinessandCorporateGovernance

（1）Definition:

Businessesofwhateversizeornatureexisttomakeaprofit.Abusinessinvestsmoneyinresources（e.g.buildings,machinery,employers）inordertomakeevenmoremoneyforitsowners.

（2）Typesofbusinessentity:

Therearethreemaintypesofbusinessentity.

●Soletraders-Abusinessownedandoperatedbyoneperson.Asoletraderisfullyandpersonallyliableforanylossesthatthebusinessmightmake.

●Partnership-Abusinessownedandoperatedbytwoormorepeople.Thepartnersarejointlyandseverallyliableforanylossesthatthebusinessmightmake.

●Company-Abusinessownedbymanypeopleandoperatedbymany（thoughnotnecessarilythesame）people.Theliabilityofshareholders（ormembers）islimitedtothenominalvalueofthesharesthattheyown.

（3）Corporategovernanceandstakeholders

●Governance:

thesystembywhichcompaniesaredirectedandcontrolledintheinterestsofshareholdersandothershareholders.

Delegation

ofcontrol

●Stakeholders:

anypersonorgroupthatcanaffectorbeaffectedbythepoliciesoractivitiesofanorganization.

Internalstakeholders:

anoperationalrolewithinthecompany.E.g.directors,companysecretary,management,employees,employeerepresentatives.

Externalstakeholders:

aroletoplayininfluencingtheoperationofthecompany.E.g.auditors,regulators,government,stockexchange,smallinvestors,institutionalinvestors.

2、财务信息使用者—Usersofthefinancialstatements

Theobjectiveoffinancialstatementistoprovideinformationaboutthefinancialposition,performanceandchangesinfinancialpositionofanentitythatisusefultoawiderangeofusersinmakingeconomicdecision.

Thefollowingpeoplearelikelytobeinterestedinfinancialinformationaboutalargecompanywithsharesthatarelistedonastockexchange.

Managementneedsdetailedinformationinordertocontroltheirbusinessandplanforthefuture,aswellastheprofitabilityofindividualdepartmentsandproducts.Theinformationmustbeveryuptodateandisnormallyproducedonanmonthlybasis.

Investorsandpotentialinvestorsareinterestedintheirpotentialprofitsandthesecurityoftheirinvestment.

Employeesandtradeunionrepresentativesneedtoknowifanemployercanoffersecureemploymentandpossiblepayrises.

Lendersneedtoknowiftheywillberepaid,whichwilldependonthesolvencyofthecompany.

Governmentagenciesneedtoknowhowtheeconomyisperforminginordertoplanfinancialandindustrialpolicies.

Suppliersneedtoknowiftheywillberepaid.

Customersneedtoknowthatacompanycancontinuedtosupplytheminthefuture.

Competitorswishtocomparetheirownperformanceagainstthatofothercompanies.

Thepublicmaywishtoassesstheeffectofthecompanyontheeconomy,localenvironmentandlocalcommunity.

3、财务会计与财务报告—FinancialAccountingandFinancialReporting

（1）Financialaccountingismainlyamethodofreportingthefinancialperformanceandfinancialpositionofabusiness.

Managementaccountingisamanagementinformationsystemwhichanalysesdatatoprovideinformationasabasisformanagerialaction.

FinancialAccounting

ManagementAccounting

Forexternalusersmainly

Fortheinternalmanagement

Preparedannually

Normallypreparedmonthly,onarollingbasis

Generallyrequiredbylaw

Notmandatory

Reflectspastperformanceandcurrentposition

Includesbudgetsandforecastsoffutureactivities,aswellasreflectingpastperformance

Internationalaccountingstandards

Informationrelevanttomanagers.

（2）Financialreportingisawayofrecognizing,measuring,recordingandreportingfinancialdata.Itconsistsoffinancialstatementsandotherrelevantinformation.

Financialstatementsincludestatementoffinancialposition,incomestatement,statementofcashflowandstatementofchangesinequity.

4、财务信息质量—QualitativeCharacteristics

Thequalitativecharacteristicsofusefulfinancialinformationdiscussedinthissectionidentifythetypesofinformationthatarelikelytobemostusefultotheexistingandpotentialinvestors,lendersandothercreditorsformakingdecisionsaboutthereportingentityonthebasisofinformationinitsfinancialreport

（1）Fundamentalqualitativecharacteristics

●Relevance（相关性）:

Informationhasthequalityofrelevancewhenitinfluencestheeconomicdecisionsofusersbyhelpingthemevaluatepast,presentorfutureeventsorconfirming,orcorrecting,theirpastevaluations.

Therelevanceofinformationisaffectedbyitsnatureandmateriality.

●Materiality（重要性）:

Informationismaterialifomittingitormisstatingitcouldinfluencedecisionsthatusersmakeonthebasisoffinancialinformationaboutaspecificreportingentity.

●Faithfulrepresentation（公允性）:

Faithfulrepresentationreallymeansthatallfiguresinthefinancialstatementhavebeenaccuratelyarrivedatwhenaccuracyispossibleandthatwhenjudgmentorestimationisneededithasbeenexercisedwithoutbias.CompliancewithGAAPwouldnormallyresultinfairpresentation.

Tobeaperfectlyfaithfulrepresentation,adepictionwouldhavethreecharacteristics.Itwouldbecomplete,neutralandfreefromerror.

Acompletedepictionincludesallinformationnecessaryforausertounderstandthephenomenonbeingdepicted,includingallnecessarydescriptionsandexplanations.

Aneutraldepictioniswithoutbiasintheselectionorpresentationoffinancialinformation.

Freefromerrormeanstherearenoerrorsoromissionsinthedescriptionofthephenomenon,andtheprocessusedtoproducethereportedinformationhasbeenselectedandappliedwithnoerrorsintheprocess.Inthiscontext,freefromerrordoesnotmeanperfectlyaccurateinallrespects.

（2）Enhancingqualitativecharacteristics

●Comparability（可比性）:

Comparabilityisthequalitativecharacteristicthatenablesuserstoidentifyandunderstandsimilaritiesin,anddifferencesamong,items.Usersmustbeabletocompareanentity’sfinancialstatementsthroughtimetoidentifytrendsorwithotherentity’sstatements.

●Verifiability（可验证性）:

Verifiabilitymeansthatdifferentknowledgeableandindependentobserverscouldreachconsensus,althoughnotnecessarilycompleteagreement,thataparticulardepictionisafaithfulrepresentation.

●Timeliness（及时性）:

Timelinessmeanshavinginformationavailabletodecision-makersintimetobecapableofinfluencingtheirdecisions.

●Understandability（可理解性）:

Users,whohaveareasonableknowledgeofbusinessandeconomicactivitiesandwhoreviewandanalyzetheinformationdiligentlymustbeabletounderstandfinancialstatements.

（3）Otherqualitativecharacteristics

●Substanceoverform（实质重于形式）:

Theprinciplethattransactionsandothereventsareaccountedforandpresentedinaccordancewiththeirsubstanceandeconomicrealityandnotmerelytheirlegalform（financinglease）.

●Prudence（稳健性）:

Prudenceistheinclusionofadegreeofcautionintheexerciseofthejudgmentsneededinmakingtheestimatesrequiredunderconditionsofuncertainty,suchthatassetsorincomearenotoverstatedandliabilitiesorexpensesarenotunderstated.

●Consistency（一贯性）:

Consistencyreferstotheuseofthesamemethodsforthesameitems,eitherfromperiodtoperiodwithinareportingentityorinasingleperiodacrossentities.Comparabilityisthegoal;consistencyhelpstoachievethatgoal.

（4）Balancebetweenqualitativecharacteristics

Atrade-offbetweenqualitativecharacteristicsisoftennecessary,