国际会计课件第3单元优质PPT.pptx

1、,International Accounting,6/e,Frederick D.S.ChoiGary K.MeekChapter 3 Comparative Accounting:#Europe,Choi/Meek,6/e,1,Learning Objectives,Choi/Meek,6/e,2,Understand how financial reporting is regulated and enforced in four highly developed European countries:#France,Germany,the Netherlands,and the U.K

2、.Describe the key similarities and differences between the accounting systems of these four countries.Identify the use of International Financial Reporting Standards at the levels of the individual company and the consolidated financial statements in these four countries.Describe the audit-oversight

3、 mechanisms in these four countries.,Keywords,Choi/Meek,6/e,3,consolidated financial statements.listed companiesFair presentationlegal complianceBalance sheetIncome statementDirectors reportsAuditors reportcash flow statementComprehensive IncomeSocial responsibility disclosures,Choi/Meek,6/e,4,Goodw

4、ill,Research and development costsExpensed/capitalizedFinance leases/operating leases Provisions（准 备 金）LIFO/FIFO/Weighed average method Deferred taxesDepreciation（折旧）Pensions（养老金）Tax-Oriented AccountingPrivate sector/public sector,IFRS in the European Union,Choi/Meek,6/e,5,Starting in 2005,all EU-li

5、sted companies must follow IFRS in their consolidated financial statements.Generally,IFRS consolidated statements are permitted for non-listed companies.Requirements for individual company financial statements vary IFRS may be required,allowed,or prohibited.,迄今为止，欧盟共有27个成员国。#分别是：#英国、法国、德国、意大利、荷兰、比利时

6、、卢森堡、丹麦、爱尔兰、希腊、葡萄牙、西 班牙、奥地利、瑞典、芬兰、马耳他、塞浦 路斯、波兰、匈牙利、捷克、斯洛伐克、斯 洛文尼亚、爱沙尼亚、拉脱维亚、立陶宛、罗马尼亚、保加利亚,Choi/Meek,6/e,6,Choi/Meek,6/e,7,International Comparison of Significant Accounting Practices,Choi/Meek,6/e,8,（contin）,Choi/Meek,6/e,9,Differences in Types of Financial Statements1.Balance sheet2.Income statemen

7、t3.Notes to financial statements4.Directors reports or Management report or Business report5.Auditors report6.cash flow statement7.Comprehensive Income8.Social responsibility disclosures9.Value Added Statement,Choi/Meek,6/e,10,IFRS（contin）,Choi/Meek,6/e,11,IFRS are based on fair presentation princip

8、lesIFRS may be overridden in（优先于）rare circumstances to achieve fair presentationAccounting measurements,Business combinations purchase accounting,Goodwill annual impairments testInvestments in associates equity methodTranslation of financial statements of foreign operations functional currency conce

9、ptAssets valued at historical cost or fair value,Research costs expensed;#development costs capitalizedLIFO not allowedFinance leases capitalized;#operating leases expensedProvisions recognized when probable and estimable,Choi/Meek,6/e,12,Deferred taxes recognized in full,using the liability,method,

10、for temporary differences between the carrying amount and tax base,Choi/Meek,6/e,13,Why do we choose the four countries?#,Choi/Meek,6/e,14,P，P37They are home to the vast majority of the worlds multinational corporations and all four of these countries have highly developed economies.They dominate th

11、e development of international accounting today and all of them are the founders of the International Accounting Standards Committee（now IASB）.They have a major role in directing the IASBs agenda.,The contents that would be discussed,Choi/Meek,6/e,15,Accounting standards-setting process.The resultin

12、g accounting standards and actual practice.The role and purpose of auditing in the countries.,Choi/Meek,6/e,16,3.1 Basic Concepts,P38 Accounting standards-setting organization,Accounting standardsetting normally involves a combination of private and public sector groups.The private sectorincludes th

13、e accounting profession and other groups affected by the financial reporting process.Such as users and preparers of financial statements and employeesThe public sector includes such agencies as tax authorities,ministries responsible for commercial law,and securities commissions.,The orientations of

14、accounting,Choi/Meek,6/e,17,Fair presentationwith a common law legal systemShareholders as the principal source of finance.The private sector is relatively more influential in standards setting.Auditors exercise more judgment and auditing profession tends to be more development and self-regulated.,T

15、he purpose ofaudit is to attest to the fair presentation of financial reports.The accounting practice emphasize Fairness andsubstance over form,United Kingdom,United States,Canada,Mexico and Philippines are examples.,3.1 Basic Concepts,Choi/Meek,6/e,18,Compliance with legal requirementsHave a code l

16、aw legal systemRely heavily on banks and the governments as sources of finance.,The public sector is relatively more influential in standards setting.,Have a close linkage betweenfinancial and tax accounting.The accounting profession tends to be more state regulated.The main purpose of an audit is to ensure that the companys records and financial statements conform to legal requirements,Germany,France and Japan are examples.,The distinction between fair presentation and legal compliance countries has p