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Introduction

引言

Financial statements are presented by formals or graphics or photos for the business financial operations, which usually refer to accounts or accountants. Through a process of detail financial data collecting from one company’s Accounting records in some certain period, usually it is presented as annual or frequent report. 

财务报表是由商业金融业务机构以表格或图片的形式呈现出来,通常涉及指帐户或会计师。通过收集一个公司在一定时期的会计记录形成一个详细财务数据的过程,通常是作为年度或频繁的报告。

It is said that these statements could provide information about the financial position, performance and interests of one company by the periodic summarization. They usually hold the charateristics of understandable, relevant, reliable and comparable for readers. As a result, many companies are willing to spend plenty of money or a lot of people to publish their every year financial statements or annual reports. It is said that managers or leaders could accordingly make their economic or business decisions more reasonably in future.

据说这些语句可以提供关于财务状况的信息,状态和定期总结一个公司的利益。他们通常可以理解的会计特性,为相关、可靠和可比的。因此,许多公司愿意花很多钱或者很多人每年公布的财务报表和年度报告。据说经理或领导者可能会因此使他们的经济或商业决策更合理。

Thus, in this paper it demonstrated the importance of financial accounting and how to evaluate the financial statement or annual reports in company. Moreover, as regard for the case of McDonald and KFC, this paper analyzed the relationship between financial statements and business decisions for managers, as well as a comparative analysis also presented later.

Role of Financial Accounting

As for the financial statements of companies, the accountancy or accountant is necessary since financial accounting is a special field for decision makers, such as stakeholders, suppliers, banks, employees, government agencies, and stockholders. The final purpose of financial accounting is reduce principal-agent problems through the monitor or evaluation of business activities and performances in order to report the result to interested readers (Financial accountancy, 2008). In other word, the reader maybe are not the people invovling in organizations or not the involving in everyday’s operations. As a result, for them, the financial statements are necessary to understand the business performances or forecast futural measures.

For the people inside the companies, the financial statements both local or internatinoal financial accounting standards adopted are significant for managers or leader to evaluate the accounting information in order to make reasonable decisions to manage their business activities, as well as monitor their performance of business entities in everyday.

Based on the accounting concepts, there are three purposes which are concluded by the method of Generally Accepted Accounting Principles (GAAP). As following:

     Creating financial statements or annual reports in companies.

     Providing information including decision making, planning or performance evaluation for the decision makers such as managers, leaders, stakeholders, suppliers, govermental agencies, and stockholders.

    Need for business regulatory requirements.

Financial Statements and Annual Reports

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