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Lecture%201_std

Lecture%201_std - AC 3111 Financial Reporting I Delivered...

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Delivered by T Y Zhang 1 AC 3111 Financial Reporting I Tianyu Zhang
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Who am I? Tianyu Zhang Week 1 2
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Contacting information Tianyu Zhang (Instructor) Office: RM1042 Cheung Yu-Tung Building Office line: 2609-7841 Email: [email protected] Wilburn Tsang (TA) Office: RM1049 Cheung Yu-Tung Building Phone: 2609 7644 Email: [email protected]
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List of companies you are going to follow for your group project: 4 ID Name ü 315 SmarTone Telecommunications Holdings Ltd. ü 330 Esprit Holdings Ltd. ü 116 Chow Sang Sang Holdings International Ltd. ü 293 Cathay Pacific Airways Ltd. ü 392 Beijing Enterprises Holdings Ltd. ü 493 GOME Electrical Appliances Holding Ltd. ü 592 Bossini International Holdings Ltd. ü 709 Giordano International Ltd. ü 1171 Yanzhou Coal Mining Co. Ltd. ü 1919 China COSCO Holdings Co. Ltd.
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Data access 5 Go to: http://www.hkexnews.hk/listedco/listconews/adva Then: 1) Input stock code 2) Headline category/document type: click all 3) Input news title: annual report 4) Submit the search. If you are interested in some Chinese listed firms http://www.cninfo.com.cn/xxgg/szgsnb.html Join your group and start early!!
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1. Why do we need accounting information?
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7 Companies need large amounts of capital for operations
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8 Companies may obtain capital by issuing capital stock... Stock Exchange
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9 Bank …or by borrowing from lenders
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10 Corporations Financial Institutions Investors Borrow money Sell stocks and bonds Primary Market (e.g., individuals, banks) Secondary Market (e.g., New York Stock Exchange) Buy and sell stocks and bonds Capital Markets Buy and sell stocks and bonds Buy and sell stocks and bonds Investors Investors
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11 Accumu- late Accounting Information Communi- cate External User Internal User Extern al Decisio n Making Company’ s Economic Activities Impact Impact Accounting Information Economic Activities and Decision Making Interna l Decisio n Making
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External users of financial information 12 Shareholders / Investors Creditors / Suppliers Debtors / Customers Lenders Regulatory bodies / Government E.g. Tax authorities, Stock Exchange Public
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Internal Users of financial information 13 Board of Directors Management E.g. CEO, CFO, line managers, etc Employees
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14 Sources of Authority Internal needs Managerial Accounting Financial Accounting GAAP Comparison of Financial and Managerial Accounting
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15 Time Frame of Reported Information Present and future Managerial Accounting Primarily historical Financial Accounting Comparison of Financial and Managerial Accounting
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16 Scope Total company & Segment reporting Financial Accounting Individual departments, divisions, and total company Managerial Accounting Comparison of Financial and Managerial Accounting
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17 Type of Information Primarily quantitative Sales $275,240 Cost 180,120 Gross mar.
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