CFA习题笔记CFA习题笔记.docxVIP

FS被investor和creditor有用，还有gov regulator，tax authority和其他，提供short-term liquidity, long-term earning power, growth opportunity和asset position of the firm. 还应该是relevent，timely，reliable，material和consistent允许time-series和cross-sectional 比较。The Financial Account Standards Board(FASB)是美国的，建立了Generally Accepted Accounting Principle(GAAP)The International Organization of ?Securiies Commission(IOSC)建立跨过的disclosure标准The International Accounting Standards Board(IASB)目标是提供international uniformity, 虽然没有执行力，但很多国家还是采用IASB GAAP除了Balance sheet，income statement和statement of cash flow，分析师还应该看financial statement footnotes，statement of comprehensive income，statement of stockholders’ equity，proxy statement，supplementary schedules和management dicision and analysis(MDA).独立auditor有doubts，就说qualified opinion； auditor能提供 reasonable assurance证明报表没有material misstatement，就说unqualifiedrevenue和expense在earn和incur时候就实现了，不管cash flow是什么时候。matching principle要求expense在revenue实现的同时记录。实现revenue的条件，completion of the earning process和assuance of payment实现revenue的方法，sale basis method,percentage-of-completion method,completed contract method, installment sales method,cost recovery methodunusual or infrequent items: 是pre-tax 在net income from continuing operations之前。线上gains of losses from 关掉business segmentgains of losses from 下属公司卖assets or investmentsprovisions for environmental remediationimpairments, write-offs, write-downs 和restructuring costsintegration expense 跟收购有关Extrodinary items: 是net of taxes 在net income from continuing operation 之后。线下losses from expropriation of assetsuninsured losses from natural disastersdiscontinued operation：是管理层决定dispose of但还没做或当年没做，在operation已经有income或者loss之后。必须在实质上与公司别的活动不一样。是net of tax，在线下accounting change，累积效应，是after tax basis在线下，通常不需要restate 历史，除非：1. 库存会计方法改变2.改变(to/from)full-cost method, 比如油气开采3.改变(to/from)percentage-of-completion method4.IPO前的任何改变操纵earnings和managerial discretion，4种操纵方法：1.classification of good/bad news, 好消息放在线上，坏消息放在线下2.income smoothing，好年份做小，坏年份做大3.big bath