Financial Statement Explanation: 2003 Revision

Author: Huang Weiqin
Publisher:
Publish Date: 2003-03-01
Features: This 2003 revised edition of the textbook incorporates a significant number of provisions from international accounting standards, making substantial changes to the original content and exercises. No prior accounting knowledge is required to take this course, but upon completion, you will be able to:
- Explain the purpose and regulatory framework of financial statements;
- Understand how to prepare a company's basic financial statements and interpret the characteristics of key items in the statements;
- Evaluate the financial impact of different accounting policies such as inventory valuation, accounting for research and development, asset impairment and provisions, depreciation calculation, and lease accounting;
- Describe the fundamental principles of income tax accounting;
- Analyze a company's financial condition, operating performance, and cash flows from the perspective of specific users using various financial ratios;
- Learn to prepare a simple cash flow statement;
- Elaborate on some provisions of international accounting standards;
- Distinguish between corporate mergers and acquisitions and prepare consolidated balance sheets and income statements for groups;
- Describe the roles of internal/external auditors and different types of audit reports;
- Understand the nature of regulated and non-profit organizations and their financial statements.