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　　Earnings per share
　　All public entities are required to present Earnings Per Share(EPS)on the face of the I/S.
　　參《企業(yè)會計準(zhǔn)則第34號-每股收益》
　　Simple/Complex capital structure
　　If an entity has only common stock outstanding，then it has simple capital structure.The entity only need present basic EPS for “IDE” and “I” on the face of the I/S.
　　If an entity has securities that can potentially be converted to common stock，then it has complex capital structure.The entity need present both basic EPS and diluted EPS for “IDE” and “I” on the face of the I/S.
　　The key point of identify simple or complex capital structure is securities convertible to common stock.
　　The key result difference is diluted EPS.
　　Basic EPS=[NI available to C/S]/WACSO
　　NI available to C/S=NI–P/S dividend
　　P/S dividend=Dividend declared to P/S+Dividends in arrears
　　Weighted-Average number of Common Shares Outstanding(WACSO)is the mean of shares outstanding and assumed to be outstanding for EPS calculations.
　　發(fā)行在外普通股加權(quán)平均數(shù)(WACSO)=期初發(fā)行在外普通股股數(shù)+新發(fā)行普通股股數(shù) X 已發(fā)行時間÷報告期間-當(dāng)期回購普通股股數(shù)X已回購時間÷報告期間
　　考點1. Cumulative P/S 未宣告的股利(dividend in arrears)是否要在計算EPS時扣除?是的。必須扣除。因為在支付普通股股東股利之前，企業(yè)必須首先支付歷年的dividend in arrears.
　　考點2. 如果三個Stock dividends / splits方案，除實施時間不同外(分別在3/31/X1，9/30/X1，1/2/X2 )，無任何區(qū)別。B/S date是12/31，報告簽發(fā)日為2/25/X2.問三個方案下誰的EPS*5?一樣大。
　　Stock dividends/splits before the F/S ISSUE DATE must be treated as though they occurred at the earliest beginning of the period in the report.
　　Complex capital structure–potentially dilutive securities type：
　　Convertible securities(convertible P/S or bonds)
　　Warrants and other options
　　Contracts that may be settled in cash or stock;and
　　Contingent shares
　　每股盈余有兩種，基本稀釋要披露。
　　先把基本來計算，分子收益分母股。
　　稀釋計算兩大類，轉(zhuǎn)換加錢是與否。
　　轉(zhuǎn)換加錢庫存法，不再加錢視同法。
　　庫存收錢買股票，買了庫股兌期權(quán)。
　　庫股不夠發(fā)期權(quán)，只好注水發(fā)新股。
　　庫存股法調(diào)分母，注水新股加其中。
　　視同法下期初轉(zhuǎn)，分母一定要調(diào)增。
　　合同約定轉(zhuǎn)換比，相應(yīng)增加普通股。
　　可轉(zhuǎn)債券動分子，節(jié)省利息要交稅。
　　穩(wěn)健原則永不忘，堅決不能反稀釋。
　　庫存股法行權(quán)價，視同法中看結(jié)果。
　　行權(quán)價比市價高，視同法下結(jié)果大。
　　以上兩種情況出，全當(dāng)證券不存在。
　　“Treasury stock” Dilutive vs.Antidilutive
　　Market price>Exercise price，Dilutive
　　Market price
　　If the security is antidilutive，ignore it during calculating dilutive EPS.因為沒有投資人會傻到當(dāng)market price
　　“If-converted” method are adopted during calculating the dilutive EPS.If-converted method assumes that the securities were converted to C/S at the beginning of the period(or at the time of issue，if later)
　　Diluted EPS=[Income available to C/S + interest on dilutive securitiesX(1-Tax rate)]/[WACSO，assuming all dilutive securities are converted to C/S]
　　Dilution from Options，Warrants，and their Equivalents–Treasury Stock Method.
　　The equivalents of options and warrants include nonvested stock granted to employees，stock purchase contracts，and partially paid stock subscriptions.
　　Treasury Stock Method的邏輯是：
　　當(dāng)期權(quán)行權(quán)時，會增加outstanding的股票，進而稀釋EPS
　　如果用行權(quán)時所收到的金額，按市價購買庫存股，會減少outstanding的股票，進而反稀釋EPS
　　真正的增加的股票和稀釋的效果是以上兩者的綜合
　　Additional shares outstanding=number of shares issued for option–[proceeds received for option exercise / average market price]
　　Proceeds received for option exercise=number of shares issued for option X exercise price
　　Diluted from Convertible Securities–If converted method
　　1st.計算Basic EPS
　　2nd.計算Additional C/S(按合同約定)
　　3rd. 計算Additional N/I.對Bonds，增加了Interest X(1-tax rate)。對P/S，無影響。
　　4th.計算 If-converted的EPS
　　5th. 取min(basic EPS，if-converted EPS)
　　存在多種潛在稀釋證券時的計算順序(同時有option，convertible P/S，convertible bonds)
　　獨立原則。各種證券互不影響，互相獨立。
　　按稀釋性大小，先算稀釋性*5的。實務(wù)中通常稀釋性從大到小為option and warrants，convertible P/S，convertible bonds.
　　計算順序的邏輯–穩(wěn)健性原則。告訴投資人一個最小的Dilutive EPS.
　　Dilution from contracts that may be settled in cash or stock.
　　GR：presumed to be settled in C/S.
　　SR：Included in diluted EPS
　　邏輯–穩(wěn)健性原則。告訴投資人一個最小的Dilutive EPS.
　　Dilution from contingent shares.
　　Contingent issuable shares depend on some future event or on certain conditions being met.
　　If all conditions for issuance are met，contingent shares are also included in BASIC EPS as of the beginning of the period in which the conditions were satisfied.
　　If NOT，contingent shares are also included in Dilutive EPS.
　　Disclosures of EPS
　　Reconciliation of the numerators and the denominators of the basic and diluted EPS.
　　The effect of P/S dividend(in arrears)
　　Potentially dilute EPS but not included
　　Subsequent issues which may effect EPS
　　Cash flow amount per share are NOT disclosed
　　Summary of EPS(F7-31)重要
　　FAR F7-3 Statement of cash flows
　　Cash flow statement(C/F)is composed by：
　　operating cash flows(CFO)，which is from transactions reported on the I/S，and Current assets and current liabilities.
　　Investing cash flows(CFI)，which is from noncurrent assets.
　　Financing cash flows(CFF)，which is from debt and equity.
　　Cash and cash equivalents
　　Cash is defined as actual cash(i.e.，currency and demand deposits)
　　Cash equivalents are defined as short-term，liquid investment，that are：
　　Quickly convertible into specific amounts of cash
　　So near maturity that the risk of changes in the value because of interest rate changes is insignificant.
　　CFO+CFI+CFF=the end cash and cash equivalent-the begin cash and cash equivalent
　　Methods of presenting the statement of C/F
　　The direct method(encourage)
　　The indirect method
　　Direct / Indirect method only different on CFO.The CFI & CFF is the same.
　　Under the direct method，the CFO shows the major classes of operating cash receipts and disbursements.A reconciliation of NI to CFO is required to be provided in a separate schedules under U.S. GAAP.
　　Indirect method CFO=NI+Noncash Expense/Loss–Noncash Income/Gains+Increase in operating liabilities–Increase in operating assets.
　　間接法下的正負號的邏輯：
　　現(xiàn)金及等價物是資產(chǎn)。
　　同性相斥，異性相吸。
　　資產(chǎn)的增加，減少CFO.
　　負債的增加，增加CFO.
　　CFO involve producing goods and delivering services to customers.
　　All transactions not categorized as CFI & CFF are categorized as CFO.
　　Direct method–categories to report
　　Cash received from customers=Revenue+increase in unearned revenue–increase in AR
　　Interest received
　　Dividend received
　　Direct method–categories to report(Cont‘)
　　Other operating cash receipts
　　Cash received from the sales of trading securities
　　Cash paid to suppliers and employees=COGS+increase in inventory–increase in A/P+salaries and wages expense–increase in wages payable
　　Interest paid
　　Direct method–categories to report(Cont‘)
　　Income taxes paid
　　Cash paid to acquire trading securities
　　Other operating cash payments=other operating expenses+increase in prepaid expenses–increase in accrued liabilities.
　　Indirect Method–adjustment to NI
　　All deferral of past operating cash receipts and disbursements.
　　All accruals of expected future operating cash receipts and disbursements.
　　All items that are included in NI that do NOT affect operating cash receipts and disbursements.
　　Indirect method CFO=NI+Noncash Expense/Loss–Noncash Income/Gains+Increase in operating liabilities–Increase in operating assets.
　　Indirect method CFO=“CLAD”
　　Current assets and liabilities
　　Losses and gains
　　Amortization and depreciation
　　Deferred items
　　Short-Cut Cash Flow Effects
　　同性相斥，異性相吸
　　Changes in debit balance accounts will have the opposite effect on cash flows
　　Changes in credit balance accounts will have the same effect on cash flows
　　Gains and Losses–CFI
　　Gains are subtracting from NI
　　Losses are adding to NI
　　Investing Activities include cash flows from the purchase or sale of NONCURRENT assets.
　　Making loans to other entities
　　Purchasing or disposing of trading，AFV，HTM
　　Acquiring or disposing of PP&E
　　Acquiring under acquisition method using cash.
　　Financing activities include cash flow from noncurrent liability and equity activities.
　　Obtaining resources from owners(issue stock)
　　Providing owners with return(dividend)
　　Obtaining resources from creditors(bonds)
　　Payments of principal on amount borrowed
　　Non cash investing and financing activities should be provided separately in a supplemental disclosure. Include：
　　A purchase of PP&E by issuance of stock
　　Conversion of bonds to equity
　　Acquiring assets through a capital lease obligation
　　The exchange of one noncash asset for another noncash asset
　　Summary of cash flow classifications of individual transactions (F7-38)。重要。
　　IFRS differences in reporting cash flow(F7-39)
　　Interest received
　　Interest paid
　　Dividends received
　　Dividends paid
　　Tax paid
　　FAR F7-Appendix I Ratio Analysis
　　Liquidity Ratios
　　Activity Ratios
　　Profitability Ratios
　　Long–term Debt-Paying Ability Ratios
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