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1、ConfirmingPagesCHAPTERTheBalanceSheetand3FinancialDisclosuresOVERVIEWChapter1stressedtheimportanceofthefinancialstatementsinhelpinginvestorsandcreditorspredictfuturecashflows.Thebalancesheet,alongwithaccompanyingdisclosures,providesrelevantinformationusefulinhelp-ingi
2、nvestorsandcreditorsnotonlytopredictfuturecashflows,butalsotomaketherelatedassessmentsofliquidityandlong-termsolvency.Thepurposeofthischapteristoprovideanoverviewofthebalancesheetandfinancialdisclosuresandtoexplorehowthisinformationisusedbydeci-sionmakers.LEARNINGAfte
3、rstudyingthischapter,youshouldbeableto:OBJECTIVES●LO3–1Describethepurposeofthebalancesheetandunderstanditsusefulnessandlimitations.(p.115)●LO3–2Identifyanddescribethevariousbalancesheetassetclassifications.(p.117)●LO3–3Identifyanddescribethetwobalancesheetliabilitycla
4、ssifications.(p.120)●LO3–4Explainthepurposeoffinancialstatementdisclosures.(p.124)●LO3–5Explainthepurposeofthemanagementdiscussionandanalysisdisclosure.(p.128)●LO3–6Explainthepurposeofanauditanddescribethecontentoftheauditreport.(p.130)●LO3–7Describethetechniquesusedb
5、yfinancialanalyststotransformfinancialinformationintoformsmoreusefulforanalysis.(p.132)●LO3–8Identifyandcalculatethecommonliquidityandfinancingratiosusedtoassessrisk.(p.134)●LO3–9DiscusstheprimarydifferencesbetweenU.S.GAAPandIFRSwithrespecttothebalancesheet,financiald
6、isclosures,andsegmentreporting.(pp.122and141)sspi2532X_ch03_112-169.indd112pi2532X_ch03_112-169.indd11211/3/125:58PM/3/125:58PMConfirmingPagesFINANCIALREPORTINGCASEWhat’sItWorth?“Ican’tbelieveit.Whydon’tyouaccountantspreparefinancialstatementsthatarerele-vant?”Yourfri
7、endJerryisafinancemajorandisconstantlybadgeringyouaboutwhatheperceivestobealackofrelevanceoffinancialstatementspreparedaccordingtogenerallyacceptedaccountingprinciples.“Forexample,takealookatthisbalancesheetforElectronicArtsthatIjustdownloadedofftheInternet.Electronic
8、ArtsisthecompanyinCaliforniathatproducesallthosecoolvideogameslikeBattlefield2,NBALive,andMaddenNFL.Any-way,theshareholders’
