Chapter 2
Financial Statements and Cash Flow
财务报表与现金流量

2-0

Key Concepts and Skills
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•
•
•
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Understand the information provided by financial statements
Differentiate between book and market values
Know the difference between average and marginal tax rates
Know the difference between accounting income and cash flow
Calculate a firm’s cash flow

2-1

2.1 The Balance Sheet （资产负债表）
An accountant’s snapshot of the firm’s accounting value at a specific point in time
 The Balance Sheet Identity is:
Assets ≡ Liabilities + Stockholder’s Equity


2-2

U.S. Composite Corporation Balance Sheet

2-3

Alphabet Inc. - Assets
Assets

As of December 31, 2014

As of December 31, 2015

Current assets:
Cash and cash equivalents
Marketable securities
Total cash, cash equivalents, and marketable securities Accounts receivable
Receivable under reverse repurchase agreements Income taxes receivable, net
Prepaid revenue share, expenses and other assets Total current assets
Prepaid revenue share, expenses and other assets, non-current Non-marketable investments
Deferred income taxes
Property and equipment, net
Intangible assets, net
Goodwill
Total assets

$

18,347
46,048

$

16,549
56,517

64,395
9,383

11,556

875

450

591

1,903

3,412

3,139

78,656

90,114

3,187

$

73,066

3,181

3,079
176
23,883
4,607
15,599
129,187

5,183
251
29,016
3,847
15,869
147,461

$

2-4

Alphabet Inc. –Liabilities and shareholders’ equity
As of December 31,
2014

Current liabilities:
Accounts payable
Short-term debt
Accrued compensation and benefits
Accrued expenses and other current liabilities Accrued revenue share
Securities lending payable
Deferred revenue
Income taxes payable, net
Total current liabilities
Long-term debt
Deferred revenue, non-current
Income