北美财务术语详解，读懂北美企业公司财务报表

美国公认会计原则（US GAAP）根据北美财务术语详解 Finance and Accounting For Non-Financial Managers

Accounting/Finance

Recording, classifying, and summarizing financial transactions in terms of dollars and their interpretation 。

Key Accounting Terms

Accounting equation/会计等式

会计等式反映了资产、负债和业主权益之间的关系。

Assets 资产 = Liabilities 负债 + Owner’s Equity 业主权益
A = L + OE

Revenue / 收益

Money earned from selling goods or services / 销售商品或服务所获得的款项
Increases owner’s equity / 有利增加公司所有者的权益

Revenue2 / 收益

• Sales-based income / 销售收入
• Service-based income / 服务收入
• Fees income / 服务费收入

Expense / 花销支出

Cost of goods or services that a business buys and uses to earn revenue / 企业购买商品或提供服务的成本，使之能赚取收入
Decreases owner’s equity / 会减少公司所有者的权益

Types of Expenses / 支出类别

Cost of goods sold 销售商品的成本

• Cost of products sold in an accounting period / 财政年度销售产品成本
• Cost of goods sold 销售商品成本 = Beginning inventory 期初存货价 + Purchases 购买价 – Ending inventory 期末库存价
• Manufacturing cost of goods sold = Direct Material + Direct Labor + Variable Overhead + “Allocated” Factory Overhead

Operating expenses 运营支出

• Expenditures that are necessary for the daily operations of a business /公司日常运行花费
• Marketing expenses / 市场开拓费
• Administrative expenses / 管理费
• Other general expenses / 一般花费
• Depreciation / 折旧费
• Depletion / 消耗品

Interest expenses 利息支出

• Result of the financial structure of a business / 企业财务结构导致
• Incurred if a company has taken a loan to support its asset investment / 资产投资贷款

Income tax 税款支出

Federal, state & local / 联邦，省/地方税种

Net profit/Assets 净利润

Net profit or net loss 净利润/净损失 = Revenue 收益 – Expenses 花费
Incorporated Assets 公司资产 = Liabilities + Owner’s Equity + Revenue – Expenses
Incorporated Assets 公司资产 = Liabilities + Owner’s Equity + Net profit or net loss 净利润/净损失
A = L + OE + R – E

Accounts 会计

Used to record and summarize business transactions / 用于记录和总结商业交易

Transactions 交易

Any business event or activity that involves monetary value/ shang

Capital and withdrawals 投入资本/提取资本

Determines the owner’s equity 用于确定所有者的权益。

Capital 投入资本

Owner’s investment / 所有人都投资
Increases owner’s equity 可以增加所有人的股权权益

Withdrawals 提取资本

When an owner withdraws assets / 当所有人提取资产

Fixed costs do not vary with the amount of activity in a business such as: Property taxes, administration salaries, etc.

固定成本：不随商业活动的多少而改变，如：地税，管理人员工资，等。

Variable costs vary with the activity:　Cost of direct material, direct labor and variable overhead, etc.

可变成本，随商业活动的多少而改变，如：直接材料成本，直接人工和可变的开销，等。

Accounting Records/Chart of Accounts 财务记录/报表
• Detailed list of all accounts 详细罗列所有帐务
• Coded according to respective class of accounts/ Assets:1 Liabilities: 2 Owner’s equity: 3 Revenue: 4 Expenses: 5 对各种帐务项目资产进行编码分类

Cash basis of accounting 现金记账

• Records transaction only when money is realized or paid 记录交易当收到或支付现金
• Does not accurately reflect period profit/loss 不能准确反映盈利/亏损

Accrual basis of accounting 应计费用

• Records transaction when revenue is earned or expense is incurred, not strictly when money has changed hands 记录交易，当获得收入或发生费用，不仅仅以钱款易手为准
• Presents a truer picture of period profitability/loss 展示财政期内真实获利/亏损

Financial statements 财务报表
• Income Statements 收入报表
• Balance Sheet 资产负债表
• Cash Flow Statement 现金流表
• Statement of Stockholder’s Equity 股东权益表

Profit and Loss 获利/亏损

Gross profit on sales 毛利 = Total revenue 总收入 – Cost of goods sold 商品销售成本

Operating profit 运营收入 = Gross profit on sales 毛利 – Operating expenses 运营花费

EBIT (Earnings Before Interest and Taxes) 税利前收入 = Operating profit 运营获利 + Other revenue 其他收入

Other revenue: Dividends, Interest, etc.其他收入：红利，利息，等

Income before taxes 税前收入 = EBIT 税利前收入 – Interest expenses 利息

Net profit or Net loss 净利/净亏 = Income before taxes 税前收入 – Income taxes 税款

Interpret Income Statements 诠释收入报表

Ratios used to interpret Income 常用收入比

Net operating margin 净营业利润率 = Operating profit营业利润/Sales销售

• Expressed in percentage 以百分比表示
• Compared to previous years’ percentage to determine financial health 与以前年份的净营业利润率比，可观察财务健康状态

Profit margin on sales 净收入利润率 = Net Profit 净收入 /Sales 销售

• Expressed in percentage 以百分比表示
• Financial health determined by comparing this percentage with the percentages of Previous years Or Other companies 与以前年份的或其他公司的净收入利润率比，可观察财务健康状态

Inadequate Level of Gross Profit on Sales 销售毛利水平不足

The reasons could be 可能的原因是:
• Product volume 产品销售量
• Price structure 商品价格结构
• Product costs 商品成本

Balance Sheet 资产负债表

Assets 资产
• Current 流动
• Fixed 固定

Liabilities 负债
• Current 现金
• Long-term 长期

Owner’s equity 所有人权益
• Capital Stock 股本
• Preferred 优先股
• Common 公共股
• Retained earnings 保留盈余

Interpret Balance Sheets 解释资产负债表

Liquidity 流动资金
• Ability to generate adequate amounts of cash to meet current obligations能够产生足够的现金数额，以满足当前的义务
• Compared by calculating:通过计算比较

• Working capital营运资金

• Working Capital = Current Assets – Current Liabilities
• Value should be neither too small nor too large

• Current ratio流动比率

• Reflects whether a company has sufficient current resources to meet obligations
• Current Ratio = Current Assets / Current Liabilities
• Expressed as a decimal
• Value should not be below 1

Debt-to-Total-Assets Ratio
• Debt-to-Total Assets Ratio = Total Liabilities / Total Assets
Indicates:
• Liabilities per $1 of assets
• Measure ability to absorb a reduction in assets without hindering its ability to pay creditors
• Value should be low

Cash Flow Statement 现金流量表

Includes three categories of accounts:现金流量分三类：
• Operating activities经营活动产生的
• Investing activities投资活动产生的
• Financing activities融资活动产生的

Operating Activities经营活动产生的

• Cash inflows and outflows that relate to daily operations 日常运作相关的现金流入和流出
• Generally result from purchase and sale of product or service 一般由产品购买和销售或服务导致

Example 例如:
• Collecting from customers 向客户征收的
• Collecting interest and dividends 利息及股息
• Paying suppliers 支付供应商
• Paying employees 支付员工
• Paying interest and tax 支付利息及税项

Investing Activities 投资活动产生的

• Involve the acquisition and sale of long-term assets 涉及收购及出售长期资产

Example:

• Purchasing stocks 购买股票

• Selling fixed assets 出售固定资产

• Selling debt or stocks 出售债券或股票

• Loaning money 借贷

• Purchasing fixed assets 购买固定资产

Financing Activities 融资活动

• Result from issuance and repayment of long-term liabilities and capital stock 发行和偿还长期负债和资本存量的结果

Example示例:

• Issuing stock certificates 发行股票证书

• Buying back your own stock 购回自己的股票

• Issuing loans 发放贷款

• Making loan payments 贷款支付

Fundamentals of Budgeting
Budgeting is the process of planning and controlling the financial activities for an upcoming accounting period by:
• Analyzing present performance
• Setting objectives for improving its future financial health

Importance of Budgeting

• Outlines a plan for managers and employees
• Fortifies effective pricing and spending efforts
Benefits
• Requires planning
• Enhances communication
• Reinforces accountability
• Identifies problems
• Motivates employees

Analyze Financial Statements/Methods of analysis

Horizontal analysis
• Analyzes month-to-month or year-toyear changes for each line item on a financial statement
• Determines the method, the reason, and the outcome of change

Trend analysis： Analyzes changes for three or more years
• Shown in dollar amount and percentage
• With first year as base year and subsequent years as percentage of base year amount

Vertical analysis
• Concentrates on the relationships between various items in the same period
• Top-down budgeting

Ratio analysis
• Studies relationships between multiple items on financial statements
• Identifies strong and weak areas
• Compares business operations of similar companies

Information Provided by Ratio Analysis
• Liquidity ratios： Determine a company’s ability to generate cash
• Activity ratios： Evaluate how well a company uses its assets
• Leverage ratios： Determine a business’s ability to meet its long-term obligations
• Profitability ratios：Determine returns for investors

Information used in Budgeting
• Working Capital
• Current ratio
• Acid test
• Inventory turnover ratio
• Days sales outstanding
• Total assets turnover ratio
• Debt-to-total-assets ratio
• Times-interest-earned ratio
• Net operating margin
• Profit margin on sales

Current Ratio
• Liquidity ratio
• Current Ratio = Current Assets / Current Liabilities
• Expressed as a decimal
• Value should not be below 1
• Generally 2:1 satisfactory

Acid Test or Quick Asset Rate
• More Restrictive
• Cash, marketable securities and accounts receivable to current liabilities

Inventory Turnover Rate
• Activity ratio
• Calculates the frequency of inventory to be sold out and restocked, per year
• Inventory Turnover Ratio = Cost of Goods Sold / Average Inventory
• Average Inventory = (Beginning Inventory + Ending Inventory) / 2
• Value should be high

Days Sales Outstanding
• Activity ratio
• Indicates the length of time a business must wait after making a sale before receiving cash
• Days Sales Outstanding = Accounts Receivable / Average Sales Per Day
• Average Sales Per Day = Annual Sales / 360
• Value should be low

Total Assets Turnover Ratio 总资产周转率

• Activity ratio
• Indicates a business’s ability to generate sales in relation to its total assets
• Total Assets Turnover Ratio = Sales / Total Assets
• Value should be high

Total Debt-to-Total Assets Ratio 总负债对总资产的比率

• Leverage ratio
• Indicates a company’s
• Liabilities per $1 of assets
• Ability to absorb a reduction in assets without hindering its ability to pay creditors
• Total Debt-to-Total-Assets Ratio = Total Liabilities / Total Assets
• Value should be low

Times-Interest-Earned Ratio
• Leverage ratio
• Measures ability to meet its annual interest payments
• Times-Interest-Earned Ratio = Operating Profit / Interest Charges
• Value should be high

The Profit Margin on Sales 销售利润率
• Profitability ratio 盈利比
• Indicates how satisfactory business activities have been 展示商业状况是否令人满意
• Profit Margin on Sales = Net Profit / Sales 销售利润率=净利润/销售
• Value should be high值越高越好

The Break-Even Point Occurs when 盈亏平衡点

• Total sales = Total expenses, with nothing left over for profit 总销售额 = 总开支，没有任何盈利

• Operating income = zero

营业收入 = 零

• Break-Even Point = Total Fixed Operating Expenses / Contribution Profit Margin per unit

盈亏平衡点=固定经营开支总额/边际利润

The Break-Even Example
Fixed Cost = $2,000,000
R = $100
VC = $60/unit
Profit Contribution PC = $100-$60 = $40/unit
BE = $2,000,000/ $40= 50,000 units

at 50,000 units
R = 50,000 ($100) = $5,000,000
VC = 50,000 ($60) = $3,000,000
FC = = $2,000,000
Total Cost $5,000,000
Profit 0

Budget Objectives

Relevant
• To your business’s vision
Measurable
• In quantitative terms
Realistic
• Challenging but not impossible

Monitor Performance
• Record the actual performance of the business on “pro forma” statements
• To compare actual performance with the budgeted amount

“Pro Forma” Financial Statements
• Forward-looking documents
• Created when setting a budget
• Used to establish the projected financial activity for an upcoming accounting period
• Used only for internal purposes and not viewed by external parties

Income Statement For year ending 12/31/04
(01/01/04 – 12/31/04)

Sales $12,000,000
Cost of Goods Sold 7,000,000
——————————————–
Gross Profit on Sales 5,000,000

Operating Expenses
Selling $300,000
Gen & Adm 400,000
Dep & Depl 500,000
—————————————–
Total Operating Expenses 1,200,000
==========================================
Operating Profit 3,800,000

Other Revenue
Dividends & Interest 20,000
==========================================
Earnings before Int. & Taxes 3,820,000

Other Expenses
Interest Expense 500,000
==========================================
Income Before Taxes 3,320,000

Provision for all taxes 1,200,000
==========================================
Net Profit for year $2,120,000

Accounting Equation
Total Assets = Total Liabilities + Total Equity
$18,610,000 = $8,789,000 + $9,821,000
$18,610,000 = $18,610,000

Working Capital = Current Assets – Current Liabilities
$6,610,000 – $2,900,000 = $3,710,000

Current Ratio = Total Current Assets/Total Current Liabilities
$6,610,000/$2,900,000 = 2.28

Acid Test or Quick Ratio=(Cash+Securities+AR-BadDebt) / Total Current Liabilities
$4,310,000/$2,900,000 = 1.49

Inventory Terms = COGS/Inventory
$7,000,000/$2,300,000 = 3.04

Days Sales Outstanding

Average Sales Per Day:
$12,000,000/360 = $33,333.33

Accounts Receivable / Average Sales Per Day
$3,210,000/$33,333.33 = 96.30 days

Total Asset Turnover = Total Fixed Assets/Total Assets
$12,000,000/$18,610,000 = 0.64

Debt to Total Asset = Total Liabilities/Total Assets
$ 8,789,000/ $18,610,000= 0.47

Times Interest Earned = Operating Profit/Interest Expense
$3,800,000/ $500,000 = 7.6

Profit Margin on Sales = Net Profit/Sales
$ 2,120,000/$12,000,000 = 0.178

Net Operation Profit = Operating Profit/Total Fixed Assets
$ 3,800,000/ $12,000,000= 0.32

Return on Equity = Net Profit After Taxes/Total Equity
$2,120,000/$9,821,000 = 0.216