Name: 財務諸表-講義6 バランスシート（アスペ (Financial statements - Lecture 6 Balance Sheet (ASPE))
Uploaded: 2021-01-14T06:56:01.000Z
Duration: 16 min 25 s
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未来進行形

And in this video, we'll be producing the balance sheet

under ASPE, accounting standards for private enterprises.

Recall that businesses that choose to use ASPE

must produce the following financial statements, income

statement, statement of retained earnings,

balance sheet, and the statement of cash flows.

We've already covered the income statement and the statement

of retained earnings in past videos, but let's just remind

The single step income statement shows the profitability

providing a subtotal if there's more than one type of revenue.

Next it lists all the expenses, again providing a subtotal.

listed in order of magnitude, from the largest

Next, income before income tax, then income tax expense,

Notice that the income tax expense is listed separately

The net income at the bottom of the income statement

is then used in the statement of retained earnings.

This statement shows the profit retained, or kept,

in the business for future growth or expansion.

balance from the prior year, adds the net income

from the current year, which is taken from the income

statement, then deducts any dividends declared or paid

to the owners before providing a closing retained earnings.

The closing retained earnings is then carried forward

to the balance sheet, which is the subject of this video.

The balance sheet summarizes the assets owned,

the liabilities owed, and the equity invested by the owners.

This statement shows the financial health

of a business at a specific point in time.

In order to understand the balance sheet,

we first have to understand the elements that

Each element has characteristics that define them.

When we record the activities of a business,

we use these characteristics to determine

if the transaction will affect that element or not.

Let's look at each element on that balance sheet

assets are owned, they provide future economic benefit,

Let's go through each of these characteristics

The concept of owned is pretty straightforward.

For example, my cell phone is an asset because I own it.

Second, assets provide future economic benefit.

That means that the assets will be used either directly

The concept of future economic benefit is critical to assets.

What are future economic benefits for a business?

Well, an asset might be used to produce a good

like a machine that is used to manufacture potato chips,

or a lawnmower that's used to provide lawn care services.

It might mean that an asset may be used to get another asset,

like giving up cash in order to get a machine.

Or the business might be able to use the asset

to get rid of a liability, like paying down a loan with cash.

Assets must have future economic benefits for the business,

in the past that transferred ownership of the asset

Why is this last characteristic important?

Because it means that if I plan to purchase an asset

in the future, I cannot claim that it is an asset now,

because the event has not as yet happened.

The transfer of ownership must already have taken place.

So, to summarize, everything that a business owns

is considered an asset, a resource obtained

future economic benefit, and due to a past event.

On the balance sheet assets are divided into two categories,

Financial statements are all about communicating

By grouping assets based on their characteristics,

in this case how fast they are used are converted into cash,

stakeholders obtain a better understanding of the business

Let's define those two categories of assets.

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財務諸表-講義6 バランスシート（アスペ (Financial statements - Lecture 6 Balance Sheet (ASPE))

period

term

category

obligation