About PressRoom. Maecenas mauris elementum, est morbi interdum cursus at elite imperdiet libero. Proin odios dapibus integer an nulla augue pharetra cursus. 1010 Avenue of the Moon New York, NY 10018 US. +1 628 123 4000 email protected Mon–Sat: 8:00AM–6:00PM Sunday: CLOSED. Mac trash cleaner force trash machines. See our list of cryptocurrency exchanges ️ Ranked by volume ️ Binance ️ Coinbase Pro ️ Huobi ️ Kraken ️ Bithumb ️ Bitfinex ️ And many more ️.
The Statement of Cash Flows helps users determine how a company obtains its cash and where the cash is spent. Providing this information helps explain changes in the cash balance from the beginning to the end of the period. While it is important for users to know how much cash a company has, it is also important to know how a company funded it operations. Did it have to borrow money or sell stock to help pay the operating expenses? If so, users need to be aware of this so they can fully assess the cash flow position of the company. Cash flow information is also useful in determining whether a business has sufficient cash to pay its debts, and/or if the business paid dividends during the period.
![Thông Thông](/uploads/1/1/8/2/118237382/607742254.png)
13 trang | Chia sẻ: thuychi11 | Ngày: 30/01/2020 | Lượt xem: 84 | Lượt tải: 0
Ke Toan Mychâ U Thô Ng Phan Tich
Bạn đang xem nội dung tài liệu Kế toán, kiểm toán - Chapter 13: Statement of Cash Flows, để tải tài liệu về máy bạn click vào nút DOWNLOAD ở trên
Statement of Cash FlowsChapter 13Provides information about the cash receipts and cash payments of a business entity during the accounting period.Purpose of the Statement Helps investors with questions about the company’sAbility to generate positive cash flows.Ability to meet its obligations and to pay dividends.Reasons for difference between net income and net cash flows from operating activities.Need for external financing.Investing and financing transactions for the period. The Statement of Cash Flows must include the following three sections:Cash Flows from Operating ActivitiesCash Flows from Investing ActivitiesCash Flows from Financing ActivitiesClassification of Cash Flows+_Inflows from:Interest and dividends receivedSales to customersCash Flows from Operating Activities Operating ActivitiesOutflows to:Suppliers of merchandise and servicesEmployeesLenders for interestGovernments for taxesCash Flows from Investing Activities+_ Investing ActivitiesInflows from:Sale of investments and plant assetsCollection of principal on loansOutflows to:Purchase investments and plant assetsPurchase debt or equity investmentsMake loans+_ Financing ActivitiesInflows from:Short-term and long-term borrowingOwners (for example, from issuing stock)Outflows to:Make payments on borrowed fundsOwners for dividendsPurchase treasury stockCash Flows from Financing ActivitiesCash EquivalentsCashCurrencyShort-term, highly liquid investments.Readily convertible into cash.So near maturity that market value is unaffected by interest rate changes.Cash and Cash EquivalentsDirect Method: Cash Received from CustomersAccrual basis revenue includes sales that did not result in cash inflows.Can be computed as:Cash Received from CustomersDecrease in receivablesIncrease in receivables+– = = Net SalesNet IncomeCash Flows from Operating ActivitiesReporting Operating Cash Flows by the Indirect MethodChanges in current assets and current liabilities as shown on the following table+ Losses and - Gains+ Noncash expenses such as depreciation and amortizationUse this table when adjusting Net Income to Operating Cash Flows.Reconciling Net Income with Net Cash FlowsManaging Cash FlowsIncrease collection of accounts receivables.Keep inventory low.Delay payment of liabilities.Plan timing of major expenditures.Invest idle cash.End of Chapter 13
List and discuss characteristics of a professional. Explain how those characteristics apply to the accounting profession. Define ethics. Discuss various models/schools of ethical decision making. Explain how to resolve ethical dilemmas. Apple products apple inc. case study.
20 trang | Chia sẻ: thuychi11 | Ngày: 31/01/2020 | Lượt xem: 96 | Lượt tải: 0
Ke Toan Mychâ U Thô Ng Phan Mem
Bạn đang xem nội dung tài liệu Kế toán doanh nghiệp - Chapter 16: Professionalism, ethics, and career planning, để tải tài liệu về máy bạn click vào nút DOWNLOAD ở trên
Ke Toan Mychâ U Thô Ng Phan Rang
Chapter 16Professionalism, Ethics, and Career PlanningOutlineLearning objectivesProfessionalismEthicsCasesLearning objectivesList and discuss characteristics of a professional.Explain how those characteristics apply to the accounting profession.Define ethics.Discuss various models/schools of ethical decision making.Explain how to resolve ethical dilemmas.ProfessionalismDefinition (www.dictionary.com)A vocation requiring knowledge of some department of learning or scienceCharacteristics of a professionalBellMcDonaldProfessionalismCharacteristics of a professional (Bell)Communicates effectively.Thinks rationally, logically, and coherently.Appropriately uses technical knowledge.Integrates knowledge from many disciplines.Exhibits ethical professional behavior.Recognizes the influence of political, social, economic, legal, and regulatory forces.Actively seeks additional knowledge.ProfessionalismCharacteristics of a professional (McDonald)Specialized knowledge baseComplex skillsAutonomy of practiceAdherence to a code of ethical behaviorEthicsDefinition of ethicsEthics issues in accountingSchools of ethical thoughtEthical decision-making modelEthics have always been important in the accounting profession. But, the profession placed renewed emphasis on them after the corporate scandals of the late 20th century. EthicsDefinitions (Boss, 2014)Ethics is a set of standards thatDifferentiates right from wrongIs established by a particular groupIs imposed on members of the group to regulate behaviorEthics is a discipline thatStudies values and guidelines for livingConsiders the justification for those valuesEthicsTable 16.1Ethics issues in accounting AreaEthical questionsRevenue recognitionIs it ethical to boost revenue at the end of the year by shipping unordered goods to customers, telling them that they can send them back after the new fiscal year starts?Earnings smoothingIs it ethical to use accounting policies (such as depreciation methods) to ensure that earnings do not fluctuate much from one year to the next?Asset valuationIs it ethical to raise / lower an estimated discount rate to change the price of an acquired asset?Fair value accountingHow much discretion should managers have in determining an asset’s fair value for accounting purposes?EthicsSchools of ethical thoughtAlmost no-one wakes up in the morning thinking “I’ll behave unethically today.”But, people do have differing views on what constitutes ethical behavior.One way to differentiate those views is through schools of ethical thought.EthicsTable 16.2Schools of ethical thought SchoolPrinciplesEthical egoismPeople have an ethical obligation to behave in their own self-interest.UtilitarianismEthical actions are those that result in the greatest good for the greatest number.DeontologyIndividuals have rights; ethical norms are “universal truths” that consider those rights.VirtuesEthical behavior is a natural product of being fundamentally ethical and virtuous.EthicsIdentify the facts.Identify the ethics issues and the stakeholders involved.Define the norms, principles, and values related to the situation.Identify the alternative courses of action.Evaluate the consequences of each possible course of action.Langenderfer & Rockness (1989) proposed a practical, well-respected model for making ethical decisions in accounting.EthicsDecide the best course of action consistent with the norms, principles, and values.If appropriate, discuss the alternative with a trusted person to help gain greater perspective regarding the alternatives.Reach a decision as to the appropriate course of action.Langenderfer & Rockness (1989) proposed a practical, well-respected model for making ethical decisions in accounting.CasesCharles PonziAdelphia Communications CorporationEnron / Arthur AndersenBernie MadoffOlympus CameraHere are a few cases that involved ethics issues in accounting contexts.CasesCharles PonziEarly 20th centuryInternational postal reply couponsUsed new investors’ money to pay off old investorsCasesAdelphia Communications CorporationFamily-based business owned by the Rigas brothersDeceptive accounting practicesPersonal loans from the companyComingled personal and business assetsCasesEnron / Arthur AndersenMultiple accounting & auditing related issuesMark-to-market accountingAuditor independenceUse of special purpose entitiesOff balance sheet debtPrimary impetus for the Sarbanes-Oxley Act of 2002 (SOX)CasesBernie MadoffInvestment advisor with BMIS (Bernie Madoff Investment Securities)Perpetrated multi-billion dollar Ponzi schemeTurned in by his sonsExample of affinity fraudPled guilty to 11 felonies in March 2009Projected release date in 2139CasesOlympus CameraJapan-based manufacturer of cameras and other optical devicesMichael Woodford, from Great Britain, appointed president in April 2011M & A activity called into question in the press in July 2011Dismissed as president in October 2011