Three Kinds Of Accounts Commonly Used By Accountants

The ledger, also known as the ledger, is an account book that classifies all economic pactions.

The classification books are divided into two categories: general ledger book and subsidiary ledger book.

It is an account book set up according to the first level accounting items, which generally reflects all the economic business and fund status. It is called the general ledger. The subsidiary ledger is set up according to the two level or detailed subjects, and records the book of changes and results of a certain economic business in a certain class.

Subsidiary ledger (ledger) is a supplement and materialization of ledger, and is controlled and controlled by general ledger.

In actual work, the chronological book is in accordance with the order of receipt of the voucher in the accounting department.

The order of numbers is registered on a daily basis, so the chronological account is also called a journal.

There are two kinds of accounting books: one is to register all the economic business, another is general journal, the other is to register a certain type of economic business, also called special journal.

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In the early days of accounting development, the most common one was the former.

The accounting books are supplementary books for supplementary accounting books, such as "accounts receivable, notes payable memorandum", "rented fixed assets reference book" and "sales register".

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The main table in the financial statement is one, that is, the balance sheet, the profit statement and the cash flow statement are the schedules of the balance sheet.

Why is the balance sheet the only main table in financial reports? Because, first, if there is no profit statement, the profit amount can be calculated by comparing the number of net assets in the balance sheet with the number of initial periods. Second, if there is no cash flow statement, it can calculate the net increase in cash and cash equivalents in the current year through the increase or decrease of the initial and final balance of the money fund, and these two tables are more detailed.

The balance sheet and profit statement have internal relations.

A dynamic equation that combines the balance sheet with the profit statement is: Assets = Liabilities + owners' equity + income - expenses.

From this equation, we can see that the inflated profit (income cost) must be inflated or cut down at the same time. Most enterprises will choose to inflate assets if the debt is difficult to reduce.

For example, once a listed company manipulate profits, 90% is related to assets, and only about 10% of them are indebted.

The reason is very simple. You have to consult with your creditors to manipulate liabilities, and manipulating assets is unilateral behavior.

The so-called "water" of assets is the cost hidden in the balance sheet, which means depreciation and depreciation allowance and less amortization of the remaining assets, so that its actual value is lower than the book value. The essence of the assets is the cost of the assets coat; the so-called "moisture" of the liabilities is mainly hidden in the balance sheet "pre account receivable" and "other payable" income, they are indebted indebtedness.

As for the owner's rights and interests, the water in the owners' rights and interests is the evacuation capital covered by the owner's rights and interests, the forgery profit that has been pferred, and other capital reserves that have not been pferred in time.

The difference between the listed company and the private enterprise's balance sheet and profit statement is that the fraudulent reporting of the listed company is mainly to find ways to capitalization of the expenses and plug it into the balance sheet, so that the balance sheet is swollen and the assets are puffy and puffy. The falsification of the report forms of the private enterprises is mainly to find ways to deal with the capitalized expenses and to put them into the profit statement, so as to make the profit surface yellow flesh thin, as if they haven't eaten for decades.

To figure out the relationship between the balance sheet, the profit statement and the cash flow statement, we should first figure out the relationship between expenses, expenses and assets.

All expenditures will cause changes in cash, so they must be recorded in the cash flow statement. As to how to enter the balance sheet and profit statement, it depends on whether the expenditure is managed for one year or more than one year. If only one year is recorded, it will be entered into the profit statement, which will be directly disposed of as the current cost. If it is managed for more than a year, it will normally be capitalized and recorded as a balance sheet.

In a word, assets are long life expenses, and expenses are vice versa.

There is a relationship between the "operating income" in the profit statement, the cash in the cash flow statement, the cash received from the sales commodities, the labor services received, and the accounts receivable in the balance sheet.

Generally, without considering the change of the relevant taxes in the tax payable, it can be simply estimated as: cash receivable from business receivables, receivables = goods sold and services received.

In fact, the corporate profit expressed by accrual basis is the profit statement, and the profit expressed by the cash basis is the cash flow statement.

In addition to cash profits, there are at least four kinds of profits.

They are: accruals, combined with accounts receivable and operating income to analyze; holding profits to analyze the fluctuation of asset value measured by fair value; virtual profits, to the debt side to find out which liabilities have become "profits" through debt restructuring; external injection of profits, that is, the legendary government subsidies.

When the net cash flow of operating activities is negative, and the profit on the profit statement is very good, it can be judged that the profits contain "water", and it relies too much on accounts receivable. These are so-called "ious profits".

Generally speaking, if the growth rate of accounts receivable of listed companies reaches 30%, and accounts receivable / total assets reach 50%, it shows that the company has a large amount of "water" and a serious potential loss.

For the specific analysis of the profit quality, we can calculate two gold index: 1, the index of operating income, the cash / business receipts received from the sale of goods and the provision of labor services, this index takes 1.17 as the judging standard; 2, the gold content of net profit = the net cash flow generated by the operation activities + the cash and financial expenses received from the investment income (+ disposal of long-term assets surplus cash).

The index of gold content in net profit = net profit / net profit of net profit, this index takes 1 as the judging standard.

I have to mention fair value.

In essence, the fair value is to break through the historical cost principle and modify the data of the financial statements. However, it can not only modify the data of the balance sheet and the profit statement, but also modify the data of the cash flow statement.

Because the change of fair value itself is only a value fluctuation. If we want to affect the profit statement, we also have a profit. There is no corresponding cash flow.

Due to the adoption of fair value, in fact, some economic benefits have been included in the accounting calculation. Economic income = accounting earnings + unrealized tangible assets (increase or decrease) changes - the tangible assets (increase and decrease) and the value changes of intangible assets that have been realized in the early stage, accounting gains are the difference between the realized income and its historical cost.

Let accountants account for accounting earnings. Do not let them cross the border. "Let God go to God and let Caesar return to Caesar".

Otherwise, letting these unrealized assets change to balance sheet and profit statement completely destroys the reliability of information.