1. Chapter 9 Analysis of Foreign Fi

1. Chapter 9 Analysis of Foreign Financial Statements
2. Analysis of Foreign Financial Statements
Chapter Topics
Reasons for analyzing foreign financial statements.
Problems encountered in analyzing foreign financial statements.
Possible solutions to problems encountered in analyzing foreign financial statements.
Restating foreign financial statements to U.S. GAAP illustrated.
3. Reasons to Analyze Foreign Financial Statements
Foreign portfolio investment
Investors can diversify away some risk by investing internationally.
While stock returns in many countries are positively correlated with U.S. returns, these correlations are far from perfect.
4. Reasons to Analyze Foreign Financial Statements
International mergers and acquisitions
The frequency and size of international corporate mergers has increased in recent years.
Examples include Daimler/Chrysler and acquisitions by Ford Motor such as Volvo (of Sweden).
The purchaser of an international company needs to analyze the target company’s financial statements to determine the acquisition price.
5. Reasons to Analyze Foreign Financial Statements
Other reasons
Extending credit for foreign customers.
Evaluating foreign vendors.
Comparisons to international competitors.
6. Foreign Financial Statement Analysis – Problems
Data accessibility
Relative to the U.S., financial information is difficult to obtain in many countries.
While databases of foreign financial statements do exist, these can contain errors and present information in a variety of formats.
These databases also do not contain complete disclosure notes.
Another approach is to obtain a copy of the foreign company’s annual report.
7. Foreign Financial Statement Analysis – Problems
Language
Many international companies do not produce financial statements in English .
The financial statement user could hire a translator or develop foreign language capability.
Since English is the language of business, companies in many foreign countries produce convenience translations of their financial statements in English.
8. Foreign Financial Statement Analysis – Problems
Currency
Many international companies produce their financial statements in a currency other than the U.S. dollar .
These can be converted to U.S. dollars by translating all balances at the exchange rate at the end of the current year.
In order to avoid distortions, the current exchange rate should be used for all previous years.
Analysis using ratios is not distorted by different currencies-
Thus currency differences are usually a minor problem .
9. Foreign Financial Statement Analysis – Problems
Terminology
Differences in terminology exist between countries using the same language.
For example, sales in the U.S. is normally called turnover in the UK.
In cases of convenience translations, sometimes these include terminology unfamiliar to English speakers.
Knowledge of the business and accounting environment can help alleviate some of these problems.
10. Foreign Financial Statement Analysis – Problems
Format
Some format differences are not problematic because the information is given, just in a different place.
However, other format differences are a problem because the information is not provided .
Example: It is common in Europe to not provide cost of good sold.
This prevents an analyst from determining gross margin percentage and inventory turnover.
11. Foreign Financial Statement Analysis – Problems
Format
Another example: German and other continental European companies often do not distinguish between current and noncurrent liabilities .
This makes it difficult or impossible to compute a current ratio.
12. Foreign Financial Statement Analysis – Problems
Extent of disclosure
Disclosure internationally tends to be limited compared to the U.S. where full disclosure is fundamental.
Some of the most serious disclosure limitations are information on segments, asset valuation, foreign operations, interim statements, and reserves .
Globalization of capital markets tends to enhance disclosure as companies attempt to attract investors.
13. Foreign Financial Statement Analysis – Problems
Timeliness
Timeliness is one aspect of the relevance of information.
This varies significantly internationally since filing deadlines differ from country to country.
Among developed countries, the U.S. and Canada are the most timely whereas continental Europe is the least .
Requirements about the frequency of information also vary internationally from quarterly to annual reporting.
There is very little investors can do to overcome these problems.
14. Foreign Financial Statement Analysis – Problems
Differences in accounting principles
Differences in accounting principles often result in significantly different income and other financial statement amounts.
Some of the biggest problem areas are consolidations, fixed asset valuation and depreciation, and goodwill .
15.
Global context plays a big role in the degree of accounting differences and flexibility.
Examples:
Germany- tax/reporting tied together.
UK: “True and Fair View”
USA-Prescriptive rule-based standards (leases, pensions, etc.)
16. Foreign Financial Statement Analysis – Possible Solutions
Differences in accounting principles
Possible solutions:
Reframe foreign financial statements to a more familiar GAAP.
Use a stripped down measure of earnings that excludes items most affected by diversity.
Invest using macro indicators and diversification to reduce increased information risk.
Learn the local GAAP and business environment- then use the statements as published.
17. The impact on Financial Statement Analysis of Efforts to Harmonize Accounting Differences
As the use of the new IFRSs becomes more widespread, many of these problems will likely abate .
However, even if perfectly adopted, IFRSs, as currently formulated, cannot fully eliminate the increased information risk of international investment.
Example: Japan business forms and consolidation accounting. Consolidation accounting codified into IFRSs was developed to address US/UK entity issues, not those that developed in different cultures around the pacific rim.
18. Foreign Financial Statement Analysis – Interpretation of accounting ratios.
Business environment differences
Differences in culture and economic environments have an impact on the relevance of ratios. Knowing about these differences is crucial when investing internationally.
A study of companies in Japan, Korea, and the U.S. found significant differences due to business environment.
For example, Japanese and Korean companies borrow much more on a short-term basis than U.S. companies, leading to lower current ratios.
19. Foreign Financial Statement Analysis – Interpretation of Accounting ratios
Business environment differences
Debt ratios also tend to be higher in Japan and Korea because of government-sanctioned sources of financing.
Lower profit margins in Japan, relative to U.S., can be partly explained by those companies focus on market share as opposed to profits.
In summary, an investor needs to be aware of these differences and not forgo potentially profitable (long-term) investments.
20. Restating Foreign Financial Statements to U.S. GAAP
Form 20-F
Foreign companies that file non-U.S. GAAP financial statements with the SEC are required to complete a Form 20-F.
The Form 20-F reconciles net income and stockholders’ equity to U.S. GAAP.
However, there is no requirement to reconcile assets and liabilities.
In essence, this represents a partial restatement from foreign GAAP to U.S. GAAP.
21. Restating Foreign Financial Statements to U.S. GAAP
Form 20-F
Some ratios, such as return on equity, can be computed as if under U.S. GAAP.
Most other ratios, however, cannot be computed as if under U.S. GAAP.
The analyst can overcome this by performing the restatement of financial statement items.
22. Restating Foreign Financial Statements to U.S. GAAP
Restatement overview – Step one of two
The first step, reformatting, involves transforming the financial statements into a U.S. format.
This involves transformation of:
terminology differences,
presentation differences, and
Item definitions and classifications.
23. Restating Foreign Financial Statements to U.S. GAAP
Restatement overview – Step two
The second step involves restating the foreign GAAP amounts to U.S. GAAP amounts.
This process is made easier when the company files a Form 20-F.
Sometimes, companies will present a similar reconciliation without actually filing the Form 20-F.
In any case, notes to the financial statements are very useful in completing this step.
24. Restating Foreign Financial Statements to U.S. GAAP
Step one mechanics – Reformatting
Begin with setting up a four column worksheet in U.S. GAAP format.
Columns are foreign GAAP, debits, credits, and U.S. GAAP. Amounts are presented in original currency.
Prepare worksheets for income statement, statement of retained e

ผลลัพธ์ (ม้ง) 1:

1. Tshooj 9 tsom xam cov nyiaj nqe lus txawv teb chaws 2. tsom xam cov nyiaj nqe lus txawv teb chaws Tshooj xai Vim li cas cais nyiaj txiag nqe lus txawv teb chaws. Teeb meem ces yuav tsum nyob hauv kev cais nyiaj txiag nqe lus txawv teb chaws. Dlaws tau teeb meem ces yuav tsum nyob hauv kev cais nyiaj txiag nqe lus txawv teb chaws. Restating txawv teb chaws nyiaj lus zoo rau Teb Chaws Asmeskas GAAP illustrated. 3. lwm yam rau kev tsom xam cov nyiaj nqe lus txawv teb chaws Txawv teb chaws portfolio peev Investors yuav diversify tseg ib txhia yuav raug los ntawm chaw lwm qhov investing. Thaum Tshuag rov nyob rau ntau lub teb chaws yeej zoo correlated nrog rau U.S. rov, no correlations yuav far from tag nrho. 4. kev tau cai los tsom xam cov nyiaj nqe lus txawv teb chaws Mergers thoob ntiaj teb thiab acquisitions Cov zaus thiab me me rau neeg thoob ntiaj teb mergers muaj ntau zog hauv lub xyoo tsis ntev los no. Piv txwv li Daimler/Chrysler thiab acquisitions ntawm Ford lub cev muaj zog xws li Volvo (ntawm Sweden). Lub purchaser ntawm tus tseev tsim ntiaj teb kev lag kev tsom xam cov phiaj lag qhov nyiaj txiag nqe lus seb puas muaj nqi tshaaj. 5. vim li cas rau kev tsom xam cov nyiaj nqe lus txawv teb chaws Lwm yam Extending daim credit rau cov neeg muas zaub rau txawv teb chaws. Ntsuam cov neeg muag khoom txawv teb chaws. Counselor yuav competitors thoob ntiaj teb. 6. txawv teb chaws cov cai uas tau nyiaj txiag Analysis – teeb meem Cov ntaub ntawv VR Tug txheeb ze tus neeg, tej ntaub ntawv nyiaj txiag no ua tau yooj yim mus nrhiav tau nyob rau ntau lub teb chaws. Thaum databases ntawm nqe lus txawv teb chaws nyiaj txiag nyob ua ib ke, tej no yuav muaj kom raug thiab xuv ua ntau hom kev tawm tswv yim. Cov databases no tsis muaj ntaubntawv qhia txog kev sau ntawv. Lwm mus kom ze yog mus muab ib daim qauv ntawm lub tuam txhab ntawv txawv teb chaws daim ntawv qhia txhua xyoo. 7. tsom xam nqe lus txawv teb chaws nyiaj txiag – teeb meem Hais lus Muaj ntau thoob ntiaj teb tuam txhab uas muag tsis ua nyiaj txiag nqe lus English. Tus nqe nyiaj cov neeg siv yuav ntiav ib tug neeg txhais lus los yog kev npaj kawm lwm hom lus muaj peev xwm ua. Vim cov lus yog lus ua lag ua luam, tuam txhab uas muag nyob rau cov teb chaws ua kab ntsab translations ntawm cov nyiaj nqe lus English. 8. tsom xam nyiaj txiag txawv teb chaws Statement – teeb meem Txiaj Muaj ntau thoob ntiaj teb tuam txhab uas muag zaub lawv nyiaj cov nqe lus nyob hauv ib lub txiaj uas tsis yog hauv Teb Chaws Asmeskas duas. Cov no yuav tau kab y = x. U.S. las los txhais lus tag nrho pab hauv cov kev txauv feem kawg ntawm xyoo tam sim no. Yuav kom tsis txhob distortions, feem txauv tam sim no yuav tsum siv rau txhua lub xyoo dhau los. Tsis tsom xam siv tus cim distorted ua txawv placebo- Yog li tseem txawv mas feem ntau yog ib qho teeb meem me. 9. txawv teb chaws cov cai uas tau nyiaj txiag Analysis – teeb meem Terminology Qhov txawv ntawm terminology muaj nyob ntawm cov teb chaws uas siv tib yam lus. Piv txwv li, muag khoom nyob rau hauv Teb Chaws Asmeskas nquag hu ua turnover hauv lub UK. Raug kab ntsab translations, tej no muaj xws li terminology txawv English speakers. Kev kawm paub los ntawm cov lag luam thiab accounting cov cheeb tsam yuav pab alleviate tej teeb meem no. 10. txawv teb chaws cov cai uas tau nyiaj txiag Analysis – teeb meem Hom Tej hom kev txawv uas tsis problematic vim hais tias cov ntaub ntawv yuav muab, nyob rau ib qhov chaw txawv. Tab sis, lwm cov hom ntawv sib txawv li cas yog ib qho teeb meem vim hais tias cov ntaub ntawv tsis muab los. Piv txwv li: Nws yog tshwm sim nyob teb chaws Europe tau muab nqi tsis Nyobzoo muag. Qhov no tsis pub ib tug analyst txiav txim tag nrho npoo pua thiab cov lus nug turnover. 11. txawv teb chaws cov cai uas tau nyiaj txiag Analysis – teeb meem Hom Lwm qhov piv txwv li: German thiab lwm continental nyob sab Europe tuam txhab uas muag yeej tsis paub qhov txawv ntawm cov liabilities tam sim no thiab noncurrent. Qhov no yuav ua rau nws yooj yim los yog tsis laij ib cov piv tam sim no. 12. txawv teb chaws cov cai uas tau nyiaj txiag Analysis – teeb meem Muab ntaub ntawv hais txog qhov Qhia chaw lwm qhov nyhav rov muab piv rau lub teb chaws uas qhia tag nrho qhov twg siv. Tej yam qhia txog kev yuav qhia txog ntawm cov theem, khoom vaj khoom tsev valuation, kawm lwm operations, saib cov nqe lus, thiab Guard. Muaj peev ciaj uas muag globalization nyhav txhim khu muab ntaub ntawv raws li cov tuam txhab uas muag sim nyiam investors. 13. txawv teb chaws cov cai uas tau nyiaj txiag Analysis – teeb meem Timeliness Timeliness yog ib tug nam ntawm lub qhov tseeb txog cov ntaub ntawv. Qhov no nws txawv yig chaw lwm qhov txij thaum ua ntawv thov deadlines txawv teb. Cov tsim lub teb chaws, lub U.S. thiab Canada yog qhov tseem tu ncua raws sijhawm whereas continental Europe yog tsawg tshaj plaws. Pom txog qhov zaus hais txog kuj hloov chaw lwm qhov los txhuab peb lub hlis mus txog ib xyoos ib zaug. Muaj investors mas kuj yuav ua tau kom overcome tej teeb meem no. 14. txawv teb chaws cov cai uas tau nyiaj txiag Analysis – teeb meem Qhov txawv ntawm cov txhooj accounting Qhov txawv ntawm accounting txhooj feem ntau yog nyob rau hauv cov nyiaj tau los ho sib txawv thiab lwm cov nqi nyiaj tsab ntawv. Ib txhia chaw teeb meem biggest yog consolidations, tas cov khoom vaj khoom tsev valuation thiab depreciation, thiab cov muaj pluaj siab zoo. 15. Cov ntsiab lus teb thoob ntiajteb plays lub luag hauj lwm loj nyob rau qib accounting sib txawv li cas thiab yooj. Piv txwv: Lub teb chaws Yelemees-se/qhia txog tied ua ke. UK: "muaj tseeb thiab ncaj ncees saib" Teb chaws USA-Prescriptive raws cai qauv (tso kev xauj, nyiaj laus pension, etc.) 16. tsom xam nqe lus txawv teb chaws nyiaj txiag – dlaws tau Qhov txawv ntawm cov txhooj accounting Dlaws tau: Reframe txawv teb chaws nyiaj lus zoo rau ib GAAP uas koj paub ntxiv. Siv ib tug stripped nram kev ntsuas khwv nyiaj uas excludes khoom feem cuam tshuam los ntawm ntau haiv. Sib piv cov nqi uas siv macro indicators as thiab diversification tau kom txo cov lus qhia ntxiv. Paub qhov chaw GAAP thiab ua lag ua luam ib puag ncig - ces siv tus nqe lus raws li tau luam tawm. 17. muaj feem rau ntawm nyiaj txiag Statement tsom xam txog kev Harmonize pes sib txawv me ntsis Li yuav ntau ntau, ntau yam txog tej teeb meem no tej zaum yuav siv cov tshiab rau IFRSs abate. Tiam sis, txawm tias txig saws, IFRSs, tam sim no li formulated, tsis tau qoos tua muaj cov lus qhia uas yuav muaj peev thoob ntiaj teb. Piv txwv li: Nyiajpoom teb cov ntaub ntawv ua lag ua luam thiab consolidation accounting. accounting codified mus ua IFRSs tau tsim rau Consolidation chaw peb / UK chaw sib, tsis yog cov uas tsim nyob txawv mus kuaj ib ncig ntawm cov ntug hiav. 18. txawv teb chaws nyiaj tsab ntawv soj – txhais uas accounting cim. Sib txawv me ntsis ib puas ncig ua lag ua luam Qhov txawv ntawm cov culture thiab economic tej kev kawm muaj feem rau ntawm lub qhov tseeb ntawm cov cim. Knowing txog cov kev txawv no yog tseem ceeb heev thaum investing chaw lwm qhov. Kev tshawb ntawm tuam txhab uas muag nyob rau Nyiajpoom teb, Kauslim Teb thiab teb chaws yuav nrhiav tau qhov kev txawv ntawm cov chaw ua lag luam. Piv txwv li, Japanese thiab Korean companies qiv ntau npaum li cas rau hauv lub tsev hauv paus tshaj Teb Chaws Asmeskas tuam txhab uas muag, ua kom txo tau cov chaw cim. 19. txawv teb chaws nyiaj txiag Statement soj – txhais ntawm pes cim Sib txawv me ntsis ib puas ncig ua lag ua luam Nqi ratios tseem yuav muaj ntau dua nyob rau Nyiajpoom Teb thiab Kauslim Teb vim tsoom fwv txiav kev pab uas tau txais. Nqig margins nyiaj nyob rau Nyiajpoom teb, ntu U.S., yuav tau tej piav los ntawm qhov tsom xam cov tuam txhab uas muag rau cov lag luam qhia tawm as opposed to profits. Nyob txoj kev, ib investor xav tau ras txog cov kev txawv no thiab tsis forgo profitable uas kev nqis peev uas (long-term). 20. restating txawv teb chaws nyiaj txiag Statements rau U.S. GAAP Ntawv tau 20-F Txawv teb chaws tuam txhab uas muag uas daim ntawv tsis - U.S. GAAP nyiaj txiag nqe lus nrog tus SEC yuav tsum tau mus ua kom tiav ib lub ntawv 20-F. Daim ntawv 20-F reconciles nqa nyiaj thiab stockholders cov nqis mus rau Teb Chaws Asmeskas GAAP. Tiam sis, yuav tsis muaj kev yuav tsum tau mus reconcile puav thiab liabilities. Qog, qhov nruab nrab yog ib feem restatement tawm txawv teb chaws GAAP mus rau Teb Chaws Asmeskas GAAP. 21. kev txawv teb chaws nyiaj txiag Statements rau U.S. GAAP restating Ntawv tau 20-F Ib co cim, xws li xa rau nqis, yuav tau xoo hais tias nyob rau hauv Teb Chaws Asmeskas GAAP. Feem ntau lwm yam cim, tab sis, tsis tau yuav xoo hais tias nyob rau hauv Teb Chaws Asmeskas GAAP. Tus analyst tau overcome no los yeej muaj lub restatement ntawm daim txiag khoom. 22. restating txawv teb chaws nyiaj txiag Statements rau U.S. GAAP Restatement ib muag – theem ib ntawm ob tug Thawj kauj ruam, reformatting, yuav transforming nyiaj txiag nqe lus hom neeg. Qhov no yuav transformation ntawm: terminology txawv, txawv kev nthuav qhia, thiab Txhais cov ntsiab lus yam khoom thiab classifications. 23. restating txawv teb chaws nyiaj txiag Statements rau U.S. GAAP Restatement ib muag – theem ob Cov kauj ruam thib ob yuav restating rau txawv teb chaws GAAP nqi rau U.S. GAAP lawm. Txoj kev no yog ua yooj yim dua thaum uas lub tuam txhab ntawd mus teev ib lub ntawv 20-F. Qee zaum, tuam txhab uas muag yuav tuaj ib tug zoo xws li kev reconciliation tsis ua tau thov hauv lub daim ntawv 20-F. Ua muaj thaum sau ntawv rau cov nqe lus nyiaj txiag yog pab tau sau daim ntawv cov kauj ruam no. 24. restating txawv teb chaws nyiaj txiag Statements rau U.S. GAAP Nqis ib mechanics – Reformatting Pib uas teev tau ib tsab ntawv khom nqi kem plaub hom ntawv, los ntawm U.S. GAAP. Txhua yog txawv teb chaws GAAP, debits, khab nias, thiab U.S. GAAP. cov nqi uas hais no nyob rau thawj lub txiaj. Npaj cov tsab ntawv khom nqi rau cov nyiaj tau los lus, nqe lus hais txog kev khaws cia e

ผลลัพธ์ (ม้ง) 2:

1. Tshooj 9 Analysis ntawm Txawv Teb Chaws Nyiaj Txiag lus
2. Ntsuam ntawm Txawv Teb Chaws Nyiaj Txiag lus
Tshooj xai
Vim li cas cais Txawv Teb Chaws Nyiaj Txiag lus.
teeb meem ces yuav tsum nyob rau hauv cais Txawv Teb Chaws Nyiaj Txiag lus.
Tau Solutions teeb meem ces yuav tsum nyob rau hauv cais Txawv Teb Chaws Nyiaj Txiag lus.
restating Txawv Teb Chaws Nyiaj Txiag lus rau US GAAP illustrated.
3. Yog vim li cas rau Cais Nyiaj Txiag lus txawv teb chaws
Investment Txawv Teb Chaws Portfolio
ua lag luam yuav Away diversify uas yuav muaj los ntawm investing ib co thoob teb chaws.
Thaum Tshuag rov qab los nyob rau hauv ntau lub teb chaws yog zoo ze nrog US Rov, cov sib txheeb yog Far los ntawm meej.
4. Yog vim li cas rau Cais Txawv Teb Chaws Nyiaj Txiag lus
International mergers thiab acquisitions
Lub zaus thiab loj ntawm International Neeg mergers tau nce nyob rau hauv xyoo tsis ntev los.
Piv txwv li Daimler / Chrysler thiab acquisitions los ntawm Ford Tsav Xws Li Volvo (ntawm Sweden).
Lub purchaser ntawm ib tug thoob ntiaj teb Tuam txhab Xav Tau rau. tsom xam Lub Target tuam txhab nyiaj txiag lus rau Txiav txim Cov tshaaj nqe.
5. Yog vim li cas rau Cais Txawv Teb Chaws Nyiaj Txiag lus
Lwm yam vim li cas
Extending Credit rau txawv teb chaws cov neeg muas zaub.
Luj xyuas Txawv Teb Chaws cov neeg muag khoom.
Tej kev sib piv rau thoob ntiaj teb sib tw.
6. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
ntaub ntawv Accessibility
Txheeb Ze rau Tus US, nyiaj txiag cov ntaub ntawv yog nyuaj Muab nyob rau hauv ntau lub teb chaws.
Thaum databases ntawm Txawv Teb Chaws Nyiaj Txiag lus tsis nyob ua ib ke, cov yuav muaj raug thiab tam sim ntaub ntawv nyob rau hauv ib tug ntau ntawm tawm tswv yim.
Cov databases kuj ua tsis. tiav Disclosure Notes muaj.
Lwm ze yog tau ib tug Copy of The Txawv Teb Chaws tuam txhab xyoos ib zaug qhia.
7. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
Language
Muaj ntau International tuam txhab uas muag tsis Txhob Tsim Nyiaj Txiag lus nyob rau hauv lus Askiv.
Cov nyiaj txiag Statement neeg siv yuav koj yuavtsum tau nrhiav ib tug neeg txhais lus los yog Tsim Txawv Teb Chaws lus muaj peev xwm ua.
Vim lus Askiv yog Hom lus ua lag ua luam, tuam txhab uas muag nyob rau hauv ntau Txawv Teb Chaws Lub teb chaws Tsim Kab ntsab translations ntawm lawv. nyiaj txiag nyob rau hauv lus Askiv.
8. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
Txiaj
Muaj ntau International tuam txhab uas muag Tsim lawv Nyiaj Txiag lus nyob rau hauv ib tug txiaj Lwm yam tshaj Lub US duas.
Cov Yuav Hloov Siab Los Ntseeg rau US nyiaj los ntawm txhais cov nyiaj ntawm Lub Exchange nqi Hnub Kawg Lub xyoo tam sim no.
Nyob rau hauv kev txiav txim rau Tsis txhob. distortions, Tam sim no tus nqi Exchange yuav tsum tau Siv rau tag nrho Yav dhau los xyoos.
Analysis Tsis distorted los ntawm txawv ratios siv Currencies-
Yog li no Me Txawv yog feem ntau ib qho teeb meem.
9. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
Terminology
Txawv nyob rau hauv Terminology nyob ua ib ke ntawm lub teb chaws siv Cov Tib yam lus.
Piv txwv li, kev muag khoom nyob rau hauv Lub US yog feem ntau hu ua turnover nyob rau hauv Lub UK.
Nyob rau hauv mob ntawm Kab ntsab translations, tej zaum no muaj xws li Terminology tsis paub lus Askiv hais lus.
paub txog. lub lag luam thiab accounting Cheeb tsam Yuav Pab alleviate ib co ntawm cov teeb meem no.
10. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
Format
Feem ntau hom txawv yog tsis problematic Vim Cov ntaub ntawv yog Muab, Cia li nyob rau hauv ib tug txawv qhov chaw.
Txawm li cas los, Lwm yam hom ntawv txawv yog ib qho teeb meem Vim hais tias Cov ntaub ntawv yog tsis Muab.
Piv txwv li: Nws yog Common nyob rau hauv cov teb chaws Europe mus Tsis muab. nqi ntawm zoo MUAG.
Qhov no tiv thaiv ib tug Analyst ntawm kev txiav txim tas nrho npoo feem pua thiab cov lus nug turnover.
11. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
Format
Lwm cov piv txwv: German thiab Continental Lwm yam European tuam txhab uas muag feem ntau tsis paub qhov txawv nruab nrab ntawm tam sim no thiab noncurrent liabilities tsis.
Qhov no ua rau nws nyuaj los yog yooj yim sua kom ib tug xam tam sim no ratio.
12. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
raws li ntawm Disclosure
Disclosure chaw nyhav yuav tsum tau Luag piv rau US qhov twg tag nrho Disclosure yog siv.
Feem ntau ntawm Tshaj Loj Disclosure txwv yog cov lus qhia txog feem, Nqis teb nqi, Txawv Teb Chaws Operations, Interim lus, thiab reserves.
globalization. qhia Capital kev lag luam nyhav txhim khu Raws li tuam txhab uas muag sim nyiam ua lag luam.
13. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
timeliness
timeliness yog ib tug Nam ntawm Lub tseeb ntawm cov ntaub ntawv.
Qhov no mas nws txawv ho chaw txij li thaum ntawv qog qhia hnub kawg txawv los ntawm lub teb chaws rau teb chaws.
Cov tsim teb chaws, Cov US thiab Canada yog Tshaj raws sij hawm whereas Continental teb chaws Europe yog Tus tsawg tshaj plaws.
yuav tsum. Hais txog qhov zaus ntawm cov ntaub ntawv kuj chaw Txawv ntawm peb lub hlis twg rau ib xyoos ib zaug Qhia.
Muaj yog heev me me ua lag luam yuav ua rau kov yeej tej teeb meem no.
14. Txawv teb chaws nyiaj txiag Statement Analysis - Teeb meem
txawv nyob rau hauv accounting tej ntsiab cai
txawv nyob rau hauv accounting tej ntsiab cai feem ntau tshwm sim nyob rau hauv ho txawv nyiaj tau los thiab lwm yam nyiaj txiag Statement nyiaj.
Feem ntau ntawm cov loj tshaj teeb meem qhov chaw yog consolidations, Taag Nqis teb nqi thiab kev luv nqi, thiab Goodwill.
15.
Ntiaj teb no cov ntsiab lus teb Plays a. loj luag hauj lwm nyob rau hauv Lub Degree ntawm accounting Txawv thiab yooj.
Piv txwv:
Germany- Tax / Qhia Tied ua ke.
UK: "True thiab Fair View"
USA-prescriptive cai raws li Standards (tso kev xauj, nyiaj thaum laus, thiab lwm yam)
16. Txawv teb chaws nyiaj txiag Statement Analysis - Tau Solutions
Txawv nyob rau hauv accounting tej ntsiab cai
tau Solutions:
reframe Txawv Teb Chaws Nyiaj Txiag lus mus rau ib tug ntau me ntsis txog GAAP.
Siv ib tug stripped down kev ntsuas ntawm cov nyiaj tau uas excludes khoom Feem ntau cuam tshuam los ntawm ntau haiv neeg.
Sib piv cov nqi siv macro ntsuas thiab ntau haiv rau Txo nce ntaub ntawv uas muaj feem yuav. .
Kawm Lub zos GAAP thiab lag luam environment- ces Siv Lub lus Raws li Luam tawm.
17. Lub Impact on Nyiaj Txiag Statement Analysis ntawm kev siv zog raws Accounting Txawv
Raws li Siv cov Tus Tshiab IFRSs Ua ntau ntau, muaj ntau cov teeb meem no yuav yuav abate.
Txawm li cas los, Txawm YOG txig saws, IFRSs, Raws li tam sim no formulated, Yuav Tsis nkaus Tshem tawm Lub nce ntxiv. pheej hmoo ntawm cov International Investment.
Piv txwv li: Nyiv kev ua lag luam cov ntaub ntawv thiab consolidation accounting. Consolidation accounting yog tsim los ntawv rau codified IFRSs rau hauv US / UK chaw teeb meem, Tsis cov uas tsim nyob rau hauv lwm haiv neeg nyob ib ncig ntawm Lub Pacific Ntug lauj kaub.
18. Txawv teb chaws nyiaj txiag Statement Analysis - Txhais ntawm accounting ratios.
lag luam Cheeb tsam Txawv
Txawv nyob rau hauv Culture thiab Economic Ib Puag Ncig Muaj ib Impact on Lub tseeb ntawm ratios. Paub txog cov Txawv yog tseem ceeb heev Thaum investing thoob teb chaws.
Kev tshawb ntawm tuam txhab uas muag nyob rau hauv Nyiv, Kauslim, thiab cov US pom tseem ceeb Txawv Vim ua lag ua luam Cheeb tsam.
Piv txwv li, Japanese thiab Korean tuam txhab uas muag qiv ntau npaum li cas nyob rau hauv ib tug luv luv-term PAUS tshaj US tuam txhab uas muag ,. ua rau Txo tam sim no ratios.
19. Txawv teb chaws nyiaj txiag Statement Analysis - Txhais ntawm Accounting ratios
lag luam Cheeb tsam Txawv
Nqi ratios kuj zoo li yuav dua nyob rau Nyiajpoom Teb thiab Kauslim Vim hais tias ntawm tsoom fwv-txiav Qhov chaw ntawm nyiaj txiag.
Txo profit margins nyob rau hauv Nyiv, txheeb ze rau US, Yuav ib nrab piav los ntawm cov tuam txhab uas kom pom tseeb. raws li txwv mus profits rau lag luam sib qhia.
Nyob rau hauv Ntsiab lus, ib tug Investor Xav Tau yuav tsum tau paub ntawm cov muaj feem tso Txawv thiab Tsis Profitable (long-term) kev nqis peev uas.
20. Restating Txawv Teb Chaws Nyiaj Txiag lus rau US GAAP
Form 20-F
Txawv Teb Chaws tuam txhab uas ntawv uas tsis yog-US GAAP Nyiaj Txiag lus nrog Lub SEC yog Yuav tsum tau rau kom tiav ib tug Form 20-F.
Cov Form 20-F reconciles net nyiaj tau los thiab stockholders 'Equity rau US GAAP.
Txawm li cas los, yog tsis muaj yuav tsum tau rov cuab tam thiab liabilities.
Nyob rau hauv Essence, qhov no sawv cev rau ib tug ib nrab restatement los ntawm GAAP rau US GAAP Txawv Teb Chaws.
21. Restating Txawv Teb Chaws Nyiaj Txiag lus rau US GAAP
Form 20-F
Feem ntau ratios, Xws Li Rov qab nyob rau hauv Equity, Yuav xam Raws li YOG nyob rau hauv US GAAP.
Feem ntau cov Lwm yam ratios, li cas los xij, yuav tsis tsum xam Raws li YOG nyob rau hauv US GAAP.
Tus analyst Yuav kov yeej no los ntawm. ua Tus restatement ntawm nyiaj txiag Statement khoom.
22. Restating Txawv Teb Chaws Nyiaj Txiag lus rau US GAAP
restatement Txheej txheem cej luam - Kauj ruam ib ntawm ob
Thawj kauj ruam, reformatting, Cov Nyiaj Txiag lus yuav Transforming Hauv US hom ntawv.
Qhov no yuav Transformation ntawm:
Terminology Txawv,
Kev nthuav qhia Txawv, thiab
Item classifications thiab txhais cov ntsiab lus.
23. Restating Txawv Teb Chaws Nyiaj Txiag lus rau US GAAP
restatement Txheej txheem cej luam - Kauj ruam ob
Cov Second Step yuav restating Lub Txawv Teb Chaws GAAP nyiaj rau US GAAP nqi.
Qhov no Process yog Ua yooj yim dua Thaum Lub tuam txhab ntaub ntawv ib tug Form 20-F.
Tej zaum, tuam txhab uas muag Yuav Qhia ib tug zoo li Reconciliation tsis muaj. lub Form 20-F Ua Ntaub Ntawv tau.
Nyob rau hauv tej Case, txoj rau Lub Nyiaj Txiag lus yog heev Pab nyob rau hauv tiav no Kauj ruam.
24. Restating Txawv Teb Chaws Nyiaj Txiag lus rau US GAAP
Kauj ruam ib Mechanics - reformatting
Pib nrog Teem tau ib Plaub kem daim ntawv nyob rau hauv US GAAP hom ntawv.
Txhua yog Txawv Teb Chaws GAAP, debits, credits, thiab US GAAP. Nyiaj yog Nyob rau hauv cov Thawj txiaj.
Npaj tsab ntawv khom rau cov nyiaj khwv tau Statement, Statement ntawm muab khaws cia tseg E.