2020-02-06

Property,plant and equipment(PP&E)-tangible assets
包括land and buildings, machinery and equipment, furniture and natural resources.
Under IFRS, use Cost model成本模型/ Revaluation model重估价模型
Under GAAP, only Cost model
cost-model：成本模型，建立成本模型是指在一定的环境和条件下，通过对成本项目的细化分析及成本影响动因的确定，结合实际设定细化的成本基准模型。
-report at amortized cost(historical cost-accumulated depreciation,amortization,depletion and impairment losses)
Land不折旧
Historical cost 包括purchase price +any cost 关于asset ready to use的费用,包括delivery and installation costs
revaluation model：重估价模式，固定资产重估价是指按照公允价值对固定资产重新进行估价。因为固定资产金额一般较大，使用年限较长，所以期间会产生折旧费、固定资产减值，以及修理费、改良支出等等。原先的帐面价值已经不能真实反应其本身价值，所以要进行重估价。
Asset is impaired资产减值 if carrying value 超过Recoverable amount可收回金额
可收回金额是指资产的[公允价值])减去处置费用后的净额与资产预计未来现金流量的[现值两者之间较高者。对于可收回金额(recoverable amount)，美国会计准则中可收回金额指公允价值减去销售成本；IFRS则将其定义为[可实现净值]与[在用价值]value in use孰高
Under the revaluation model,PP&E=Fair value-accumulated depreciation
Fair value-reflected in shareholders' equity--IC
Investment property
IFRS标准下，包括assets that rental income租金收入 or capital appreciation资本增值--report at amortized cost or fair value
Under fair value model,any change in fair value is recognized in IS.
Deferred tax assets递延所得税资产=payable taxes-tax expense
由会计、税收时间差异导致。
如果当期会计所得税费用大于税法的应纳税额规定，就意味着提前计税了，形成递延资产，将来可以冲转回来；反之就是递延负债。
Intangible assets--non-monetary assets--lack physical substance
eg.Securities 不认为是无形资产
Identifiable intangible assets可辨认无形资产
可辨认无形资产是指可以单独对外出租、出售、交换而不须同时处置在同一获利活动中的其他资产的无形资产包括专利权、非专利技术、商标权、著作权、土地使用权。--acquired separately or rights/ privileges convey to owner
Unidentifiable intangible assets--unlimited life-eg. goodwill
Under IFRS and GAAP,
1.start-up and training costs
2.Administrative overhead

3. Advertising and promotion costs
   4.Relocation and reorganization costs
4. Termination costs终止成本
   Goodwill信誉-Acquires are often willing to pay more than fair value of target's identifiable net assets-因为target assets可以不reported on BS.
   --only created in a purchase acquisition--Not amortized but must test for impairment at lest 1年
   Amortized cos摊余成本t=original issue price-principal payments+amortized discount-amortized premium-any impairment losses
   Mark-to-market accounting市值调整
   include trading securities, available-for-sale securities and derivatives
   根据市值对公司所持有的证券的价值进行测算，并对相应账务进行调整。
   Trading securities(又叫held-for-trading securities)--debt securities acquired to sell over the near term--fair value(BS)/ unrealized gains and losses (IS)
   Derivative instruments --same as trading securities
   Available-for-sale securities --debt securities- 不同于not expected to held to maturity or traded in the near term.--report fair value(BS)-不同点：unrealized gains and losses not recognized in the IS

Under GAAP
Financial Asset Measurement Bases
1.Historical Cost实际成本:包括Unlisted equity investments未上市股权投资--Loans and notes receivables贷款和应收款项
2.Amortized Cost:包括Held-to-maturity securities持有至到期投资
3.Fair Value包括Trading securities/ Available-for-sale securities/Derivatives

Under IFRS
1.Measured at amortized cost
包括Debt securities acquired to hold to maturity/ Loan receivable/ Notes receivables/ Unlisted equity securities if fair value cannot be determined reliably

2. Measured at fair value through other comprehensive income
   Debt securities to collect interest payments but sell before maturity/
   Equity securities only if this treatment is chosen at time of purchase/

3. Measured at fair value through profit and loss
   Debt securities acquired to sell near term/ Equity securities(unless Fair value through OCI is chosen at time of purchase)/ Derivatives/ Any security not assigned to the other 2 categories/ Any security for treatment

Long-term financial liabilities
22f. Describe the components of shareholders' equity
Owners' equity--residual interest in assets-remain after 减去liabilities
包括contributed capital投入成本l(又叫issued capital), preferred stock, treasury stock, retained earnings, non-controlling interest and accumulated OCI
Par value of common stock is a stated or legal value--no relationship to fair value.
22g. Convert BS to common-size bS and interpret
Common-size balance sheet --each item of BS as a percentage of total assets.
22h. Calculate and interpret liquidity and solvency ratios
1.Liquidity ratio--satisfy firm's short-term obligations.
Current ratio=current assets/current liabilities
Quick ratio=(Cash+marketable securities+receivables)/ current liabilities
Cash ratio=(Cash+marketable securities)/current liabilities
--measure ability to pay current liabilities
2.Solvency ratios--measure long-term obligations-包括long-term debt-to-equity ratio,the total debt-to-equity ratio, the debt ratio, financial leverage ratio
Long-term debt-to-equity长期债务股本比= long-term debt/ total equity
负债对所有者权益的比率是衡量公司财务杠杆的指标，即显示公司建立资产的资金来源中[股本与债务的比例。
Total debt-to-equity=total debt/total equity
debt ratio负债比率=total debt/total assets
financial leverage财务杠杆比率=total assets/total equity
财务杠杆是指企业利用负债来调节权益资本收益的手段。财务杠杆比率指反映公司通过债务筹资的比率。
Limitations of BS ratio analysis:
1.Peer firms对比有限,differences in accounting standards and estimates
2.Lack of homogeneity, firms operate in different industries
3.Interpretations of ratios requires judgment
4.BS data only for某一个时间点