北美财务报告(ppt33)全英文-财务综合(编辑修改稿)

北美财务报告(ppt33)全英文-财务综合(编辑修改稿)内容摘要：

month) – 500 (miscellaneous expenses) 4800/48 (amortisation expense for 1 month) = 4,300 Yuans 13 Standard Setting amp。 Auditing 1  Standard setting or regulation is necessary to protect the investors (conflicting interests of investors and managers). The FASB (Financial Accounting Standards Board and the CICA ( Canadian Institute of Chartered Accountants) are independent bodies. 14 Standard Setting amp。 Auditing 2  Auditing (external) ensures that a third independent party has examined the financial statements and that they are in accordance to GAAP( Generally Accepted Accounting Principles). 15 Efficient Securities Markets  The prices of securities (stocks) ―properly reflect‖ all information that is publicly known about these securities.  Investors will quickly adjust to new or corrected information as it bees available.  Investors cannot expect to earn abnormal returns . a return on a security in excess of its normal expected return. 16 WORLDCOM(Communications Industry) 1  Largest Bankruptcy in history. Bankruptcy date = July 21, 2020. Total assets (prebankruptcy) = US$103,914,000,000 approximately 850,000 millions Yuans or RMB(assuming 1 us dollar approximately equal to Yuans) 17 WORLDCOM(Communications Industry) 2  Internal Auditor (Cynthia Cooper Time Magazine Person of the year for 2020) went to Board of Directors , claiming assets should be written off the balance sheet.  . agree with her. On writing off assets, large losses. Stock prices fell down steeply. 18 Enron Corp ( Energy Industry)  Company went bankrupt on December 2,2020. Total assets prebankruptcy = US $63,392,000,000 approximately equal to 520,000 millions Yuans or RMB.  Profits overstated。 revenues recognized before they are earned.  Liabilities hidden from balance sheet.  Gambling on energy futures contracts.  Sherri Watkins ( Enron manager) blew the whistle but no one listened. 19 Arthur Andersen (Former “Big Five。