名词
Fair value: the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date
Balance sheet, statement of financial position, statement of financial condition.
Assets: resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
Liabilities: obligations of a company arising from past events or current conditions, the settlement of which is expected to result in a future outflow of economic benefits from the entity.
Equity: the owners’ residual interest in the company’s assets after deducting its liabilities. 又叫shareholders’ equity或者owners’ equity
Liquidity:
- 对于公司来说，liquidity是the availability of cash to meet those short-term needs
- 对于资产来说，liquidity是“nearness to cash”，即the ability to be converted into cash in a short period of time at a price close to fair market value
Operating cycle: the average amount of time that elapses between acquiring inventory and collecting the cash from sales to customers. 比如，对于制造业公司来说，取得原材料到把产品卖出去变成钱之间的时间就叫一个周期。有时候一个周期会超过一年，而current 和 non-current 的区别是按照这个来分的。
Current assets: Assets that are held primarily for trading or that are expected to be sold, used up, or otherwise realized in cash within one year or one operating cycle of the business, whichever is greater, after the reporting period.
Current liabilities: liabilities expected to be settled within one year or within one operating cycle of the business, whichever is greater, after the reporting period. 有四条规则（或）：
- expected to be settled in the entity’s normal operating cycle
- held primarily for the purpose of being traded
- due to be settled within one year after the balance sheet date
- The entity does not have an unconditional right to defer settlement of the liability for at least one year after the balance sheet date.
还有一些比如trade payables是无论时间都算在current里面的。
Working capital: the excess of current assets over current liabilities.
A classified balance sheet: 根据流动和非流动来分类的。
与之对应有liquidity-based presentation: all assets and liabilities are presented broadly in order of liquidity.
银行通常来说会用liquidity-based，standard要求如果这种presentation更加reliable and relevant就可以采用。
Cash equivalents: highly liquid, short-term investments that are so close to maturity (少于3个月) and whose value is unlikely to change significantly with changes in interest rates. 但是不包括12个月内restricted in use的部分。
Accrued expenses: expenses that have been recognized on a company’s income statement but not yet been paid.
Deffered income: received payment in advance of delivery of the goods and services associated with the payment.
Investment property: Those to earn rental income or capital appreciation (or both) instead of for production or administration
relation with company’s market value
The balance sheet amounts of equity should not be viewed as a measure of either the market or intrinsic value of a company’s equity.
原因：
- 作为整体是一个mixed model，mixed指各部分的measurement base（比如historical cost或者fair value等）不一样。
- balance sheet 反映的是at the point in time, 报告日之后会有变化
- 比如ability to generate cash flow不是资产负债表的工作，而是cash flow statement反映的
Current Assets
standard 要求以下是必须列出的：
- cash and cash equivalents
- trade and other receivables
- inventories
- financial assets with short maturities
marketable securities: investments in debt or equity securities that are publicly traded, and whose value can be determined from price information in a public market.
Trade Receivables
Amounts owed to a company by its customers for products and services already delivered. 以net realizable value来报告，是根据estimates of collectability调整的fair value。
有三个东西值得关注：一是the overall level of accounts receivable relative to sales，二是the allowance for doubtful accounts，三是the concentration of credit risk。
Additions to the allowance in a particular period are reflected as bad debt expenses, and the balance of the allowance for doubtful accounts reduces the gross receivables amount to a net amount that is an estimate of net realizable value.
如果真的收不回，就需要同时减记allowance for doubtful accounts和receivables
Current Liabilities
Trade payables
Trade payables 是 a company owes its vendors for purchases of goods and services. 通过这个可以间接看到公司和supplier的信用关系。
Non-current assets
Property, Plant, and Equipment
缩写PPE。IFRS下可以用cost model或者revaluation model，但是GAAP只允许cost model。
在cost model下PPE按照amortised cost报告，就是historical cost - accumulated depreciation/depletion - impairment losses. 而impairment loss来自于recoverable amount少于carrying amount的情况：
Recoverable amount：fair value - cost to sell 和 value in use的高者；
fair value：The amount obtainable in a sale of the asset in an arms-length transaction between knowledgeable willing parties
value in use: The present value of the future cash flows expected to be derived from the asset.
在revaluation model下，PPE按照revaluation日的fair value减去后续发生的accumulated depreciation来报告。
investment property
可以按照cost model或者fair value model来报告。如果是fair value model，损益会包括在income statement里面。
deferred tax assets
为什么会出现：the actual income tax payable based on income for tax purposes in a period exceeds the amount of income tax expense based on the reported financial statement income due to temporary timing differences. 比如有的收入是今年就到了但是根据准则不能今年确认，但是税法会把这些也算在今年的应税收入里面，就导致了差异。
同样的如果是费用在会计上要今年算但是税法上以后才能算，也是导致报表收入小于应税收入。
Equity的组成
- Capital contributed by owners，也就是普通股。普通股有有par value (stated value)和no par两种，有par的就需要披露。此外authorized, issued和outstanding的数量都要披露。
- Preferred shares，其中无限期不可赎回的才是equity，其他的会被算作financial liabilities。
- Treasury shares，就是被repurchased而且没有被cancel的普通股。A repurchase of previously issued shares reduces shareholders’ equity by the amount of the cost of repurchasing the shares and reduces the number of total shares outstanding.所以回购会导致asset（cash）和equity同时减少。
- Retained earnings.
- Accumulated other comprehensive income
- Noncontrolling interest
statement of changes in equity
IFRS要求提供以下信息：
- total comprehensive income for the period
- the effects of any accounting changes that have been retrospectively applied to previous periods
- capital transactions with owners and distributions to owners
- reconciliation of the carrying amounts of each component of equity at the beginning and end of the year.
For companies that pay dividends, the amount of dividends is shown separately as a deduction from retained earnings.