Accounting problem 2

Accounting statement refers to a written document that comprehensively reflects the financial status and operating results of an enterprise in a certain period according to daily accounting data, and is the final product of accounting.

According to the economic content reflected, it can be divided into accounting statements reflecting financial status and accounting statements reflecting operating results;

According to the preparation time of accounting statements, it can be divided into annual accounting statements, interim financial statements, quarterly accounting statements and monthly accounting statements, which are referred to as annual reports, interim reports, quarterly reports and monthly reports.

According to the submission object of accounting statements, it can be divided into external accounting statements and internal accounting statements;

According to the preparation unit of accounting statements, it can be divided into unit accounting statements and summary accounting statements;

According to whether accounting statements reflect the situation of subsidiaries, they can be divided into separate accounting statements and consolidated accounting statements.

Accounting statements provide users with useful information necessary for relevant economic decision-making, and their functions mainly lie in:

(1) The economic information provided by accounting statements is an important basis for enterprises to strengthen and improve their management.

(2) The economic information provided by the accounting statements is the basis for macro-control and management by the national economic management department.

(3) The economic information provided by accounting statements is the basis for investors and creditors to make decisions. accounting statement

Introduction to accounting statements:

Accounting statements are written documents prepared regularly by the accounting departments of enterprises and units on the basis of daily accounting, which fully reflect the financial situation and operating results.

Accounting statements include balance sheet, income statement, statement of changes in financial position (or cash flow statement); In addition to the balance sheet, public institutions also have income and expenditure tables, business expenditure tables and business expenditure tables.

Accounting statements can be divided into monthly, quarterly, semi-annual and annual reports according to the preparation time.

Accounting statements can be divided into internal statements and external statements according to the different objects submitted.

Reading skills of accounting statements:

When reading accounting statements, investors should read important accounting statement items in combination with the notes of accounting statements, so as to fully understand the financial status, operating results and cash flow of enterprises.

1, balance sheet

The balance sheet plays an important role in analyzing the solvency and operational ability of enterprises. The ratio of current assets to total assets, quick assets (current assets minus prepaid expenses, inventories and receivables over three years) to current assets, and cash assets to quick assets respectively reflect the long-term, short-term and immediate liquidity and solvency of enterprise assets. If the current assets are greater than the current liabilities, it means that the enterprise has its own liquidity that is not affected by the current liabilities; If the current assets are less than the current liabilities, it means that the enterprise lacks its own liquidity, and its production and operation activities may be affected by the pressure to repay the current liabilities in a short time. The asset-liability ratio can show the financial risk of an enterprise. When the asset-liability ratio (total liabilities/total assets) of an enterprise is high, especially when it exceeds 70%, it means that the financial risk of the enterprise is high.

(1) Accounts receivable and other receivables

We should read the accounting policy of bad debt provision in the notes of accounting statements, analyze the aging of accounts receivable and other receivables, and the provision of bad debt provision. Generally speaking, the longer the account is, the less likely it is to be recovered. If the corresponding provision for bad debts is not high and there is no reasonable explanation, it means that the enterprise underestimates the bad debts of accounts receivable. In addition, we can compare the relationship between accounts receivable and operating income. When the growth rate of accounts receivable is significantly higher than the growth rate of operating income, we should pay special attention to the cash withdrawal of accounts receivable, whether it is suspected of inflating assets and profits, especially the growth of accounts receivable in related transactions. As for other receivables, we should pay attention to the nature of their funds, whether there is illegal borrowing of funds, guarantee compensation paid for undertaking guarantee responsibility, suspense expenses, etc.

(2) Advance payment

When reading the aging analysis in the notes to the accounting statements, we should pay attention to whether the large uncollected prepayments with an age of more than 1 year are real purchase prepayments and whether there is a reasonable explanation, so as to judge whether to pay other payments in the name of prepayments.

(3) Investment

According to the regulations, short-term investments are measured according to the principle of lower cost or market price, and long-term investments are measured according to the principle of lower book value or estimated recoverable amount. When reading the statement, we should pay attention to the classification of investment, and analyze the income and quality of investment, especially whether there is entrusted financial management.

(4) Debits of prepaid expenses, long-term shared expenses and deferred taxes.

The above item is not a physical asset, but a prepaid expense. If the amount is large and the proportion is significant, it shows that the asset quality of the enterprise is poor.

(5) Fixed assets (including projects under construction)

The amount of fixed assets reflects the production capacity and scale of an enterprise, so we should pay special attention to whether there are mortgaged or frozen assets. If the amount is huge, it is necessary to combine the asset-liability ratio and cash flow to judge the impact on the production and operation of the enterprise once it is disposed of.

(6) Loan and interest expenses

If the interest expense drops sharply compared with the loan, we should pay attention to whether the company can reduce the interest expense and increase the profit by capitalizing the interest expense.

2. Income statement

The income statement comprehensively reflects all aspects of the enterprise's production and operation activities and profitability. Among them, operating income is a new asset obtained by an enterprise through selling products or providing services to the outside world. Operating expenses (including sales expenses) are the expenses incurred by enterprises in using various properties or services to obtain operating income. For ordinary companies, sales revenue is the most important source of business income, which directly reflects the scale, profitability and sustainable development trend of the company's main production and operation. When analyzing the profit of the main business, we should also combine the gross profit margin of the same industry. If the profit of an enterprise mainly comes from non-main business (except investment companies), such as non-recurring gains and losses. Non-recurring gains and losses refer to all kinds of income and expenses that are not directly related to the company's business operations, but are related to the business operations, but truly and fairly reflect the normal profitability of the company due to their nature, amount or frequency, such as subsidy income, non-operating income and expenses, and income from disposal of equity. It shows that there may be some risks in the sustainable operation and profitability of enterprises.

3. Cash flow statement

By reading the cash flow statement, we can judge the business performance of the enterprise. When the net cash flow from operating activities lags behind the net profit, it may reflect the low turnover rate of accounts receivable and inventory, poor capital turnover and poor income quality.

4. Schedule of accounting statements

The attached table is relative to the main table and is a supplement and explanation to the main table. The first three items are the main tables of accounting statements. Schedule is a supplement and explanation to the main table, so it can also be divided into three categories-schedule of balance sheet: schedule of asset impairment reserve, schedule of owner's equity (or shareholder's equity) change, schedule of value-added tax payable; Income statement: profit distribution statement; Balance Sheet and Income Statement Integration: Segment Report

5. Notes to accounting statements

Besides reading the notes related to the items of accounting statements, we should also pay attention to other important matters disclosed in the notes of accounting statements. By reading the explanations of important items in accounting statements, changes in accounting policies and accounting estimates, and corrections of major accounting errors, we can judge whether an enterprise uses the above changes and corrections to adjust profits. By analyzing contingencies, commitments and events after the balance sheet date, we can judge their influence on the future operation of the enterprise, and judge the independent profitability of the enterprise by paying attention to related transactions.