경영상의 행위(activity)는 크게 operating, investing, financing으로 나눌 수 있다.
Financial Statement Element: The major classifications of assets, liabilities, owners’ equity, revenues, and expenses.
-Account: specific records within each element where various transactions are entered.
-chart of account(COA): 자기네 재무제표의 계정 모아놓은 리스트
Asset: the firm’s economics resources
-cash and cash equivalents
-accounts receivable
-inventory
-financial assets
-prepaid expenses
-PPE
-investment in affilitates: 관계회사 출자금
-deferred tax assets
-intangible assets
-goodwill
Liabilities: creditor claims on the company’s resources
-account payable
-financial liabilities
-unearned revenue
-income taxes payable
-long term payable
-long term debt
-deferred tax liabilities
Owners’ Equity: the owners’ residual claim on a firm’s resources, which is the amount by which assets exceed liabilities
-capital (par value of common stock)
-additional paid in capital: par value 넘어서는 금액
-retained earnings
-other comprehensive income
Revenue: inflows of economics resources
-sales
-gains: increase in assets from transactions incidental to the firm’s day-t0-day activities
-investment income
Expense: outflows of economic resources
-cost of goods sold: 매출원가
-selling, general, and administrative expenses: 판관비
-depreciation and amortization
-tax expense
-interest expense
-losses: decreases in assets from transactions incidental to the firm’s day-t0-day activities
basic accounting equation: assets = liabilities + owners’ equity
expanded accounting equation: assets = liabilities + contributed capital + ending retained earnings
= liabilities + contributed capital + beginning retained earnings + revenue – expense – dividends
double-entry accounting하자!
accrual accounting를 채택하고 있다.
1. unearned revenue –> 부채
2. accrued revenue –> 자산
3. prepaid expense –> 자산
4. accrued expense –> 부채
Flow of information in an accounting system
-Economic transaction발생하면 일단 journal entries를 통해 기록. 이걸 다 정리해 놓은 문서를 general journal
-이후 계정에 따라 거래 내역을 분리해 놓은 것은 general ledger라 한다.
애널리스트들은 기업의 재무제표 작성에 들어가는 모든 정보를 알 수 없다. 그 end product만을 볼 뿐.
GAAP 지키면서도 경영진은 manipulate or misrepresent the company’s financial performance 가능