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This note, prepared by Maryanne M. Rouse, MBA, CPA, Instructor in Strategic Management at the University of South Florida, may be reproduced by faculty who adopt Strategic Management and Business Policy, Strategic Management, or Cases in Strategic Management by Wheelen and Hunger for distribution to students. Copyright © 2000 by Maryanne M. Rouse. Reprinted by permission.

UNDERSTANDING FINANCIAL STATEMENTS

Financial statements serve as both milestones and signposts. As milestones, financial statements help the reader assess the past financial performance and current financial condition of a proprietorship, partnership, or corporation. As signposts, financial statements provide information about the past and present that is useful in predicting future financial performance and condition.

The three most frequently encountered and most widely used financial statements are the Balance Sheet, the Income Statement, and the Statement of Cash Flows. These three general-purpose financial statements are intended to provide information to shareholders, creditors, and other stakeholders about the financial position, operating results, and investing/financing activities of an organization.

Financial statements reflect only past transactions and events. A transaction typically involves an exchange of resources between the business and other parties. Purchase of goods held for resale, either on open account or for cash, is an example of a transaction.


BASES OF ACCOUNTING

Although there are hybrid systems that combine elements of both, the two most widely used bases of accounting are the cash basis and the accrual basis.


Cash Basis. Under the cash basis of accounting, revenue is recognized when cash is received and expenses are recognized when cash is disbursed. Many small businesses and most individuals use the cash basis of accounting when preparing financial statements and tax returns. A key reason for its popularity is that it is simple: any cash coming in is treated as revenue while any cash going out is treated as expense. The cash basis also allows individuals to shift (legally!) receipts and payments from one period to another to reduce taxable income. Because the timing of receipts and disbursements will influence reported profit (or taxable income), the cash basis doesn’t reflect true results of operations for a period of time or true financial position at a point in time. And, since timing of receipts and disbursements can distort reported information, many small businesses as well as large corporations use the accrual basis of accounting.


Accrual Basis—Under the accrual basis of accounting, revenues are recognized when they are realized and expenses are matched against revenue.

Realized—revenue is realized when the earning process is virtually complete and the amount that will be collected is measurable and reasonably assured

Recognized—revenue is recognized by making an entry in the financial records

Matching—insures that expenses are recognized in the same period as the revenue they helped generate

Important measurement assumptions and concepts that underlie the preparation and interpretation of financial statements include the following:

Entity Assumption—regardless of its form (corporation, partnership, proprietorship), a business enterprise exists separate and apart from its owners

Monetary Assumption—only those transactions that can be valued in monetary terms are recorded in the financial records

Going Concern Assumption—in the absence of evidence to the contrary, the business is expected to continue into the future: it will be able to use its investment in assets to generate adequate income and cash to satisfy current and potential liabilities

Time Period Assumption—economic activities can be divided into artificial time periods such as a month, quarter, or year. (The shorter the time period, the more difficult it becomes to accurately measure elements of economic activity.)

Historical Cost—amounts in the financial records and statements represent exchange value at the date of acquisition, not current value or replacement cost.

Conservatism—when there is doubt concerning which accounting choice is appropriate, conservatism indicates the firm should use the approaches that is least likely to overstate income or assets.

Consistency—similar transactions should be treated the same way from year to year so that statements can be compared over time
 
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GENERALLY ACCEPTED ACCOUNTING PRINCIPLES

Generally Accepted Accounting Principles (GAAP) is a set of “ground rules” for valuing, recording, presenting, and disclosing financial information. The principles set forth in GAAP are intended to (1) help insure consistency in the financial statements of a given firm from period to period and (2) provide some assurance that the financial statements of one firm can be compared to those of another.

Because there are choices within GAAP (methods of depreciation, inventory valuation methods, etc.), firms disclose which alternatives they chose in the first footnote to the financial statements, the Summary of Significant Accounting Policies. Other important information about how individual items are handled by the company is provided parenthetically in the statements themselves or in additional footnotes.



AUDITED, REVIEWED, COMPILED

A firm’s management is responsible for the content and preparation of financial statements; however, the involvement of independent accountants enhances the credibility of management-prepared statements.

When a CPA is involved in compiling management-provided financial data in the form of a financial report but performs no other procedures, she/he will provide a Compilation Report. A Compilation Report informs the reader that the accountant expresses no opinion on the statements and provides no assurances about the financial information presented.

If information underlying the financial statements is reviewed by the CPA but not subjected to the extensive procedures of an audit, he/she may issue a Review Report which provides limited assurances to the users of the statements.

An audit consists of a much more extensive examination of evidence supporting the financial statements as well as an intensive review of the audited firm’s internal control system. Because of the overwhelming volume of information/evidence, auditors use statistical sampling to select transactions for review and perform tests as the basis for drawing inferences about the reasonableness of the financial statements. Audit opinions are of three types: unqualified, qualified, and adverse. The auditor can also decline to express an opinion.
 
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ELEMENTS OF FINANCIAL POSITION: THE BALANCE SHEET

The balance sheet provides a “snapshot” of a firm’s financial position. Prepared at a point in time, the balance sheet shows what the firm owns (assets) and owes (liabilities owed to outsiders plus the residual interest owed to shareholder/owners).

Assets. An asset is something the firm owns that has future economic benefit. An item cannot be recorded as an asset unless the company owns it. Equipment leased under a short term operating lease or a building that is rented would, therefore, not be considered an asset. However, ownership is not enough: the item, whether tangible (you can stub your toe on it) or intangible (no physical substance), must have future economic benefit. An example of something a company owns that has no future economic benefit is obsolete inventory.

In most financial statements, assets are divided into at least two categories: current and non-current. Current assets comprise those that are expected to be converted into cash or used up within one year or the operating cycle. Non-current assets include property, plant and equipment (PP&E), intangible assets, and deferred charges. PP&E and other non-current assets are not acquired with the intent to resell them; rather, they provide the productive capacity to earn revenue (going concern, historical cost).

Liabilities. Liabilities are obligations to pay or convey assets in the future based on past transactions. Liabilities are divided into current and non-current. Current liabilities are those obligations that will be satisfied within one year or the operating cycle; non-current liabilities are debts due after one year. Regardless of their classification as current or non-current, liabilities represent a claim, not an ownership interest.

Shareholders’ Equity. Shareholders’ equity is the ownership interest of those who have invested in the company through the purchase of capital stock. Shareholders’ equity account classifications include capital stock, additional paid in capital, and retained earnings. A corporation may have several different classes of stock, each having slightly different characteristics. The two general classes are preferred stock and common stock. Preferred stock will have a stated dividend rate or amount and will usually have preferences as to payment of dividends or distribution of assets in the event of liquidation. Corporations are under no obligation to declare dividends; however, if dividends are declared, the holders of stock with preferences must receive dividends before dividend payments can be made to the holders of common stock. The holders of common stock have no guarantees: they are the risk-takers who will benefit the most if a company is successful but who will lose the most (often their entire investment) if the company fails.

The Accounting Equation. Assets will always equal liabilities plus shareholders’ equity. This is not sleight of hand but the result of recognizing that each transaction has two sides. Another way of stating this duality is to note that the items listed on the right side of the balance sheet, liabilities plus shareholders’ equity, can be viewed as the sources of the assets listed on the left side of the balance sheet or as claims against those assets.
A CLOSER LOOK AT THE BALANCE SHEET

ASSETS

Current Assets

Cash—cash and cash equivalents including currency, bank deposits, and various marketable securities that can be converted into cash on short notice. Only securities that are purchased within 90 days of their maturity dates may be classified as cash.

Marketable Securities—short-term equity and debt investments that are readily marketable and that the company intends to convert into cash. Generally shown at fair market value, marketable securities represent an investment of idle cash.

Accounts Receivable—amounts due from customers that have not yet been collected. Accounts receivable should “turn over” or be collected within the firm’s normal collection period, usually 30 to 60 days. An increase in the collection period may signal either a customer’s inability to pay or the company’s inability to collect. Managers and readers of financial statements are interested in the estimated cash that will be generated from collection of accounts. Because some customers may fail to pay amounts due, an allowance for doubtful accounts is deducted from accounts receivable to derive the net amount of cash that the company believes will be collected.

Inventories—represents items that have been manufactured or purchased for resale to customers. The generally accepted method of valuation for inventories is the lower of cost or market. Market, in this case, is the cost to replace the item. “Writing down” inventory to no more that the amount that can realized through its sale provides a conservative estimate.

Prepaid Expenses/Other Current Assets—usually minor elements of the balance sheet, “prepaids” represent payments made in advance, the benefits of which have not yet been used up. Examples include insurance and advertising contracts.


Non-Current Assets

Property, Plant & Equipment—also referred to as “fixed assets,” PP&E generally includes such long-lived elements as land, buildings, machinery, equipment, furniture, automobiles, and trucks. PP&E is recorded at historical cost and shown at that cost less accumulated depreciation. Because, with the exception of land, these long-lived assets are expected to gradually lose their economic usefulness over time, a portion of the total cost is allocated to current expense via depreciation. (Depreciation expense “matches” a portion of the asset’s cost to the revenue it helped generate in a given period.) Accumulated depreciation represents all depreciation expense to date for each depreciable asset included in PP&E.

Intangibles—are assets with no physical substance but which often have great economic value. Only those intangibles that have been purchased are shown as assets. Patents, copyrights, and trademarks are examples of intangibles. Another important type of intangible asset is goodwill. Goodwill is a label used by accountants to denote the economic value of an acquired firm in excess of its net identifiable assets. In a process similar to depreciation, the cost of intangible assets is spread over multiple operating periods via amortization.
 
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LIABILITIES

Current Liabilities

Accounts Payable—the amounts the company owes to regular business creditors from whom it has bought goods and services on open account. Often called “trade debt,” accounts payable represents the short-term, unsecured debt that arises in the normal course of trade or business.

Notes Payable—are more “formal” liabilities because they are evidenced by a written promise to pay. A note is a legal document that a court can force a firm to satisfy.

Accrued Expenses—represent liabilities for services received but unpaid at the date of the balance sheet. Accrued expenses shows the total amount the company owes for such items as salaries, rent, utility bills, and other operating expenses.

Income Taxes Payable—includes unpaid taxes due within one year. Many firms use the more general category Taxes Payable and include in the total amounts owed for payroll and other taxes as well.

Other Current Liabilities—might include warranty obligations and unearned revenue. If interest payable is a relatively insignificant amount, it may be included here. A firm will have unearned revenue if it has received cash in advance of providing goods or services. Unearned revenue is a liability because the firm must either provide the goods/services as promised or return the cash received.


Long Term Liabilities

Deferred Income Taxes—are created by using different accounting methods for financial and tax purposes. For example, a company may use accelerated depreciation for tax purposes and straight-line depreciation for financial accounting purposes. The higher (accelerated) depreciation expense results in a lower income tax due. However, because income tax expense for financial accounting purposes reflects the higher amount that would be due if straight-line depreciation were used, the company estimates the difference that will be owed in the future. This estimate is called deferred taxes.
Debentures—or bonds payable are a major source of funds for large firms. A bond is written evidence of a long-term loan. It is really a promissory note containing the firm’s promise to (1) pay periodic interest (usually semi-annually) at a specified rate and (2) repay the amount originally borrowed (principal.) Debentures may be secured or unsecured. A mortgage bond is a type of secured debenture. The holders of unsecured bonds rely on the ability of the firm to generate sufficient cash flows to meet principal and interest payments as they come due.

Other Long Term Liabilities—includes any other amounts owed to creditors with a due date beyond one year.


SHAREHOLDERS’ EQUITY

Preferred Stock—is capital stock with certain preferences as to dividends and distribution of assets in the event of liquidation. For Serendipity, the preferred stock is $5.83 cumulative $100 par value. Par value is a legal concept: it is the amount below which shareholders’ equity may not be reduced by the distribution of dividends. $5.83 is the amount of the annual dividend to be paid. Cumulative means that if in any year the dividend is not paid, it accumulates and the accumulated amount must be paid to holders of preferred stock before any dividend is paid to the holders of common stock. The holders of preferred stock generally may not vote and therefore have no voice in company affairs (unless the company fails to pay dividends at the promised date.)

Common Stock—is generally voting stock with no specified dividend payment; however, companies may have several classes of common stock which may include non-voting common stock.

Additional Paid-in Capital—results from selling preferred or common stock at more than its par value. For example, if 100 shares of $10 par value common stock were sold for $1,500, $1,000 would be shown as common stock and the excess received over par value, $500, would be shown as additional paid in capital. If a stock has no par value, the total amount received is shown as stock; no portion is assigned to additional paid in capital.

Retained Earnings—is an historical record of earnings retained in the business. It’s important to remember that there is NO CASH in retained earnings. Rather, retained earnings represents a claim against the excess of assets over liabilities. Retained earnings increases as the result of earning a profit; this account is decreased by incurring a loss. Declaration of a dividend also results in a decrease in retained earnings because the company is distributing part of its earnings, in the form of cash or other assets, back to its shareholder-owners.

Other Items—Treasury stock is the company’s own stock that has been issued, is fully paid, and has been repurchased by the company. When a company repurchases its own stock with the intention of holding it temporarily (rather than canceling it) the cost of treasury stock is usually shown as a deduction from stockholders’ equity.
 
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Serendipity
Manufacturing
Company, Inc

CONSOLIDATED BALANCE SHEET


December 31, 2000 and 1999 (dollars in thousands)

ASSETS 2000 1999

Current Assets
Cash $ 20,000 $ 15,000
Marketable Securities at market value 40,000 32,000
Accounts Receivable, less allowance for
doubtful accounts: 19X9, $2,375 and
19X8, $3,000 156,000 145,000
Inventories, at lower of first in, first out
cost or market 180,000 185,000
Prepaid Expenses and Other Current 4,000 3,000
Total Current Assets $ 400,000 $ 380,000


Property, Plant, & Equipment
Land $ 30,000 $ 30,000
Buildings 125,000 118,500
Machinery 200,000 171,100
Leasehold Improvements 15,000 15,000
Furniture, Fixtures, etc. 15,000 12,000
Total Property, Plant & Equipment $ 385,000 $ 346,600
Less: Accumulated Depreciation 125,000 97,000
Net Property, Plant & Equipment $ 260,000 $ 249,600


Intangible Assets less amortization $ 2,000 $ 2,000


TOTAL ASSETS $ 662,000 $ 631,600




Serendipity
Manufacturing
Company, Inc


December 31, 2000 and 1999 (dollars in thousands)

LIABILITIES 2000 1999

Current Liabilities
Accounts Payable $ 60,000 $ 57,000
Notes payable 51,000 61,000
Accrued Expenses 30,000 36,000
Income Taxes Payable 17,000 15,000
Other Current Liabilities 12,000 12,000
Total Current Liabilities $ 170,000 $ 181,000


Long Term Liabilities
Deferred Income Taxes $ 16,000 $ 9,000
12.5% Unsecured Debentures 130,000 130,000
Other LongTerm Debt - 6,000

TOTAL LIABILITIES $ 316,000 $ 326,000


SHAREHOLDERS' EQUITY

Preferred Stock, $5.83 cumulative, $100 par value,
authorized, issued, and outstanding, 60,000 shares $ 6,000 $ 6,000
Common Stock, $5 par value, authorized 20,000,000 shares,
19X9 issued 15,000,000 shares, 19X8 14,500,000 shares 75,000 72,500
Additional Paid in Capital 20,000 13,500
Retained Earnings 250,000 218,600
Less: Treasury Stock at Cost
19X9, 19X8, 1,000 shares (5,000) (5,000)
TOTAL SHAREHOLDERS' EQUITY $ 346,000 $ 305,600

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 662,000 $ 631,600


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ANALYZING SERENDIPITY’S BALANCE SHEET

Investors, creditors, and other users of financial statements often analyze relationships between or among balance sheet accounts using ratios. The three types of ratios used most often are liquidity ratios, leverage ratios, and activity ratios.


Liquidity Ratios

Liquidity ratios focus on working capital accounts and provide information about a company’s ability to meet currently maturing liabilities from its current assets. Working capital is current assets minus current liabilities. For Serendipity, working capital was $230,000,000 in 2000 and $199,000,000 in 1999. However, relationships provide a great deal more information about liquidity than absolute amounts.

Current Ratio—is current assets divided by current liabilities. It tells how many dollars of current assets are available to cover each dollar of current liabilities. For Serendipity, the current ratio for 2000 was $400,000/$170,000 or 2.35 to 1. The current ratio in 1999 was $380,000/$181,000 or 2.10 to 1. Serendipity’s liquidity has increased: in 2000 the company had $2.35 in current assets for each $1.00 of current liabilities vs. $2.10 in current assets for each $1.00 of current liabilities in 1999. Because inventories are usually insignificant for companies in service industries, the current ratio for firms in these industries is generally lower than for firms in merchandising or manufacturing industries.

Quick Ratio—is “quick” assets (current assets minus inventories, prepayments, and other current assets) divided by current liabilities. Also called the acid test ratio, the quick ratio shows how many dollars of assets quickly convertible into cash are available for each dollar of current liabilities. For Serendipity, the quick ratio for 2000 is $216,000/$170,000 or 1.27 to 1. For 1999, the quick ratio is $192,000/$181,000 or 1.06.to 1.

Cash Ratio—is cash divided by current liabilities. The cash ratio shows how much cash is available for each dollar of current liabilities. Serendipity’s cash ratio for 2000 was $20,000/$170,000, or .12/1: the company has $.12 of cash for each dollar of current liabilities. This was an improvement from 1999 when the cash ratio was $15,000/$181,000 or .08/1.


Leverage Ratios

Leverage ratios provide information about the relationship between the financing provided by owners (shareholders’ equity) and that provided by creditors (current and non-current liabilities.) Leverage ratios provide a means of assessing the risk associated with using borrowed funds.

Debt to Equity Ratio—is total liabilities divided by total shareholder’s equity. Serendipity’s debt to equity ratio for 2000 is $316,000/$346,000 or .91 to 1: Serendipity had $.91 in debt for each dollar of equity. The debt to equity ratio for 1999 was $326,000/$305,600 or 1.07 to 1. (a debt/equity ratio of 1 to 1 would indicate that a company had an equal amount of debt and equity.)

Long Term Debt to Capital Structure—is long term debt divided by long term debt plus shareholders’ equity. It expresses long term debt as a percentage of the sum of long term debt and equity financing. For 2000, Serendipity’s long term debt to capital structure ratio is $130,000/$476,000 or .27; for 1999 it was $136,000/$441,600 or .31. In 2000, 27% of the company’s long-term financing was provided by creditors, down from 31% in 1999.

Debt to Assets Ratio--shows the percentage of total assets financed by creditors. It is computed by dividing total debt by total assets. For Serendipity, this measure is
$316,000/$662,000 or .48 for 2000; it was $326,000/$631,600 or .52 for 1999. All three leverage ratios show that Serendipity’s financial leverage in 2000 decreased from the prior year.


Activity Ratios

Activity ratios describe a relationship between an income statement and balance sheet element. Examples of activity ratios include inventory turnover, asset turnover, average collection period for accounts receivable and days of cash.

Asset Turnover—is sales divided by total assets. It measures asset utilization: how may dollars of sales are generated by each dollar invested in assets. For Serendipity, asset turnover was $765,000/$662,000 = 1.16 for 2000 and $725,000/$631,600 = 1.15 for 1999.

Inventory Turnover—is cost of goods sold divided by average inventory. It measures the number of times inventory is “turned over” or sold during a year. Using cost of goods sold as the numerator excludes any element of gross profit. Some published ratios, however, including many industry averages, use sales as the numerator. It’s important to understand the difference and to make comparisons carefully. Using cost of goods sold,
Serendipity’s inventory turnover for 2000 was $535,000/$180,000 or 2.97. For 1999, inventory turnover was 2.79. A declining inventory turnover can be a warning signal that customers find company’s products less attractive; an extremely rapid inventory turnover may indicate an inability to meet customer demand. Inventory turnover ratios should be interpreted in light of a company’s inventory policy. For instance, if a company were attempting to implement a JIT strategy, inventory on hand would be expected to be quite low and turnover quite high. In periods of rising prices, LIFO will result in a higher inventory turnover than FIFO or average cost.

Average Collection Period—for average collection period, the numerator is accounts receivable while the denominator is average daily sales (sales divided by 365.) Serendipity’s average daily sales for 2000 is $2,095,890. The average collection period for Serendipity in 2000 would be calculated as $156,000,000/$2,095,890 = 74.3 days. For 1999 the ratio would be $145,000,000/$1,986,301 = 73 days. It is taking Serendipity slightly longer to collect from customers who purchased merchandise on open account.
 
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A CLOSER LOOK AT THE INCOME STATEMENT

Because the income statement shows how much profit a company earned or the size of the loss it incurred, the income statement is often referred to as the profit and loss or P&L statement. The income statement shows the results of operations for the time period specified: it shows revenue earned during the period and the expenses that were incurred to earn that revenue. A classified income statement, such as that prepared by Serendipity, separates sources of revenue and types of expenses.

Revenue. The first item on an income statement is the company’s principal source of revenue. For Serendipity, it is net sales (sales less returns and allowances), revenue earned through the sale of goods and services to customers.

Cost of Goods Sold (COGS). For a merchandise firm, COGS is the acquisition cost of the merchandise sold plus the cost of freight-in. For a manufacturer, COGS will include the material, labor, and overhead costs associated with merchandise sold.

Gross Margin (Gross Profit). Gross margin/profit is the excess of net sales over COGS. Gross margin is the amount available to cover operating and financing expenses and
provide for a profit.

Depreciation and Amortization. Depreciation and amortization are means to spread the cost of long-lived assets over the periods they are expected to benefit. For example, if a company buys a heavy-duty truck with an economic (useful) life of 4 years for $50,000, straight-line depreciation (equal amounts each year) would allocate one fourth or $12,500 of expense to each year. For Year 1, depreciation expense would be $12,500; at the end of Year 1, accumulated depreciation would be $12,500; book value (cost less accumulated depreciation) would be $37,500. For Year 2, depreciation would once again be $12,500; at the end of Year 2 accumulated depreciation would be $25,000; book value would be $25,000.

Selling, General, and Administrative Expenses (SG&A). This amount includes all usual and recurring operating expenses with the exception of COGS. Showing these amounts separately allows a comparison of gross margin to SG&A and also allows the reader of financial statements to analyze increases/decreases in SG&A over time. SG&A expenses are sometimes referred to as “below the line” costs because they are deducted from gross margin.

Operating Income. This amount is the excess of operating revenues over operating expenses. Because it excludes the results of financing and investing activities as well as the impact of unusual and non-recurring items, it provides a basis for estimating or predicting future income from regular, continuing operations.

Dividend and Interest Income/Interest Expense. In a classified income statement, revenues generated by investing activities are shown separately from sales revenues. Similarly, financing expenses are shown separately from operating expenses.
Income Before Income Taxes and Extraordinary Items. This line shows pre-tax income from both operating and financing/investing activities. It takes into consideration all ordinary income (the plus factors) and ordinary costs (the minus factors).

Income Taxes. Income taxes are shown as the amount that would be due on income shown for financial accounting purposes. Because of timing differences (e.g., using accelerated depreciation for tax purposes and straight-line depreciation for financial accounting purposes), the amount of taxes actually owed often differs from the amount shown as expense on the income statement.

Income Before Extraordinary Items. This line shows after-tax income earned from ongoing operating and financing activities before taking into consideration gains or losses from unusual, non-recurring items.

Extraordinary Items. There are some years in which companies experience events that can be described as both unusual and infrequent. The effects of these items are shown separately on a net-of-tax (the dollar amount after deducting the tax effect) basis. Earnings per share amounts are also shown separately for extraordinary items. A knowledge of which income streams are expected to continue and which gains and losses are one-time events provides additional useful information to financial statement readers.

Net Income. This line shows the net after-tax effect once all revenues and all expenses for a period of time are considered.

Statement of Changes in Shareholders’ Equity. If there have been many, complex transactions affecting ownership interests, a company may choose to summarize them in a separate statement called the Statement of Changes in Shareholders’ Equity. In other cases, the information may be presented in a footnote.
 
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to San: bác có thể gởi mail tới info@webketoan.com admin sẽ up hộ bác, dd nào cũng có nguyên tắc của nó thôi đâu phải tự nhiên đề ra nguyên tắc vậy cũng vì mục đích chung thôi. Mong bác thông cảm.
 
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Chuyện nhỏ, chú cứ mời anh uống bia qua mạng thì anh nhận ngay. Thanks for all!
 
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#10
Xin có ý kiến nhỏ như thế này:

Các vấn đề mà ông SF đưa ra nhìn chung thỉ cũng khá hữu ích cho những ai muốn tìm hiểu sâu về hệ thống kế toán theo chuẩn mực quốc tế (điều này chỉ hữu ích cho những ai đang làm vịêc tại các tập đoàn, công ty nước ngoài...)
Tôi thấy ông SF cũng hơi tự cao (nhưng không sao, miễn là ông cảm thấy vui khi tham gia diễn đàn)
Có lẽ do không tìm hiểu về thực tế kế toán Việt Nam nên ông toàn đòi đưa ra vấn đề lý thuyết để trao đổi mà ông quên mất một điều là từ lý thuyết tới vận dụng thực tế tại Việt Nam là cả một quãng đường dài (có khi là hai đường thẳng song song) và điều quan trọng nhất là khi mọi người tham gia diễn đàn thì đều có mục đích riêng của họ (trao đổi những vấn đề khúc mắc trong xử lý nghiệp vụ) và nếu giúp được họ xử lý tốt những vướng mắc ấy thì chắc chắn là sẽ tốt hơn việc đưa ra lý thuyết suông thôi.
Tôi không có ý chê bai ông nhưng tôi thấy ông cũng nên xử sự sao cho không mất lòng mọi người. Có thể ông mạnh về mặt nào đó nhưng người khác lại mạnh về mặt khác. Trên đời này không có ai là hoàn hảo cả và mọi người luôn luôn phải nỗ lực học hỏi nhưng là học những vấn đề nào cần thiết trước mắt cho mình, và chỉ khi giải quyết được những vấn đề trước mắt thì mới nghĩ tới những vấn đề cao xa được.

Nếu tôi nói quá lời thì ông đừng có buồn nghe vì tôi chỉ muốn nói chuyện với ông như 1 người bạn & tôi cũng rất vui nếu như được làm quen với ông.

:two: :two: :two: :two: :two: :two: :two: :two:
 
S

Sans-frontiere

Thành viên sơ cấp
24/4/04
139
0
0
#11
Mời tất cả các chú quan tâm vào đây anh trả lời những khúc mắc của các chú một thể. Riêng bất cứ chú nào comment là anh chưa từng có kinh nghiệm làm kế toán Việt Nam thì các chú xem lại các bài viết của anh nhé . Anh có ít nhất 50 khách hàng là các DNNN, các tổng công ty, các liên doanh và công ty một trăm phần trăm vốn nước ngoài hàng năm. Anh chinh chiến các loại hình dự án lẫn đã từng là chủ một doanh nghiệp tư vấn về kế toán và đầu tư nhỏ. Những cái đấy chỉ để support cho anh các bài viết free cho các chú trên này. Còn ngoài đời, anh giỏi, anh dốt, các chú không cần quan tâm nhé. Tính cách của anh thế nào nó cũng không quan trọng. Cái anh cần là các chú đọc bài viết của anh, thì các chú thu được cái gì đấy cho bản thân. Còn anh, viết cho các chú không phải là anh không học được cái gì. Hơn nữa, anh muốn các chú xông vào thảo luận, viết tham luận, chứ không phải chỉ trích cá nhân anh.



P/S: anh sẽ dành ngày hôm nay để trả lời tham luận của các chú về cá nhân anh, còn từ ngày mai, chú nào có lèm bèm anh cũng không quan tâm.

Các chú làm ơn post các comment theo cái link của anh, còn ở đây để anh tiếp tục post tiếp các cái khác. Thanks
 
T

thienhuong

Thành viên sơ cấp
30/1/04
24
0
1
36
Huế
#12
Lâu lâu mới đọc được một topic hay và có nhiều chuyện bàn cãi như vậy trên WKT. Chẳng biết phải nên gọi SF là gì, thôi mình sẽ gọi bằng anh cho khoẻ vậy nhé. Đồng quan điểm với SF rằng những vấn đề về lý thuyết kế toán nên bàn sâu hơn. Không nên nghĩ rằng những kế toán viên như chúng ta chỉ cần biết lý thuyết để áp dụng vào thực tế. Mình thích được theo khuynh hướng nghiên cứu kỹ hơn về bản chất của kế toán.
 
M

Morning Star

Thành viên sơ cấp
28/11/03
66
0
6
Hà Nội
Truy cập trang
#13
MS có chút thắc mắc theo hướng hơi mở một chút:

1. Công ty được nêu làm ví dụ có phải là 1 dạng cty điển hình k0? Những chỉ số của cty đó có thể lấy làm chuẩn để so sánh k0? Các cty có net profit ratio dưới mức của Serendipity (6.5%) có thể coi là hoạt động k0 hiệu quả lắm, lợi nhuận hơi thấp? còn trên mức đó, ví dụ 20% thì coi là siêu lợi nhuận???

2. Về chỉ số ROE - theo em biết thì người ta hay dùng chỉ số này để đánh giá mức độ mạnh/yếu của một cty. Anh đi nhiều biết nhiều có thể giới thiệu cho em biết ROE của một số cty lớn k0, và của một số ngành nghề nữa, thêm của 1 số cty VN thì càng tốt. Em thật sự rất thiếu kiến thức về phần đó và k0 biết phải tìm hiểu ở đâu.
 
Vualua

Vualua

Geosynthetics
18/12/03
307
3
0
45
Hà Nội
www.asx.com.au
#14
Câu hỏi của MS anh có thể trả lời như sau:

1.Vấn đề mức lợi nhuận hay tỷ lệ thu hồi vốn là hoàn toàn do chủ quan của doanh nghiệp quyết định mức bao nhiêu là khả thi cho dự án. Không có khái niệm siêu lợi nhuận ở đây. Thông thwừong ban quản trị đặt ra các chỉ tiêu cụ thể .VD như Board Of Director của một tập đoàn A đặt ra về ROC của một nhà máy trong hệ thống tối thiểu phải đạt 8% RIC, nếu không sẽ đóng của nhà máy. Tuy nhiên cũng trong hệ thống công ty này, một nhà máy khác họ chỉ yêu cầu mức ROC là 2%!

2.Thế nào là mạnh yếu? khái niệm này chưa rõ chút nào. Đôi khi chỉ tiêu về dòng tiền không thể coi nhẹ. Có rất nhiều công ty làm ăn rất có lãi nhưng vấn yếu về dòng tiền, chết bất đắc kỳ tử.

Về chỉ tiêu, tùy mỗi công ty mà có thể lấy ROE (Return on Equity) or ROC (Return ò Capital) hoặc một số chỉ tiêu khác. Em nên nghiên cứu kỹ vấn đề này vì ROC còn bị ảnh hường của các khoản Receivable và Payable làm nó lớn lên hay nhỏ đi nữa. Thông thường chiếm dụng hay nợ người ta nhiều lên và giảm thiểu nợ phải thu và tồn kho. ROC sẽ tăng lên một cách đáng kể.

Một số dự án lập nhà máy hay SX , việc tính qua ROC có nhiều lợi điểm, hoặc tính Return ò Net working Capital. Các nhà tài chính thường cho rằng khoản chi phí vốn hay đầu tư vào thiết bị nhà xưởng mang tính dài hạn. Điều đó khó thay đổi về mặt ngắn hạn, do vậy chỉ tiêu ngắn hạn tính qua vốn hoạt động mang lại câu trả lời thỏa đáng hơn.

Về mặt kiến thức, những cái này là rất thông thường theo thông lệ của vấn đề tài chính. anh có mấy đường Link ở đâu đó vào trang basemanagement.com. Chắc là em không chịu đọc thôi.
 
L

lyngoc

Thành viên sơ cấp
7/7/08
1
0
0
31
hanoi
#15
Mọi người ơi làm ơn giúp mình với!
"warranty obligations" nó nằm trong mục Nợ ngắn hạn của Bảng cân đối kế toán
Cám ơn mọi người nha!
 

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