Name: 第2章 動画1 財務報告の要素 (Chapter 2, Video 1, Financial Reporting Elements)
Uploaded: 2021-01-14T06:56:02.000Z
Duration: 10 min 8 s
Description: VoiceTubeの動画で発音を聞きながら英語表現を覚えよう！学べる英語：

未来進行形

And today, we'll be talking about the elements

understand why the elements are a part of Generally Accepted

We know that stakeholders are individuals or groups who

either affect the business or are affected

Every stakeholder has an objective-- something

they want from their relationship with the business.

Stakeholders can be either internal or external.

Internal stakeholders work for the business.

Their objectives generally relate to their ability

External stakeholders are outside of the business.

And their objectives relate to the decisions

they'll make about providing resources to the business--

This is called resource-allocation decisions.

financial information, so they can make decisions

with regards to providing resources-- generally,

Businesses are involved in thousands of activities

in the accounting system, an information system that

collects, groups, and communicates a businesses

financial position-- including its financial health

Financial statements tell a business a story-- what they do

They provide a business's financial performance--

its current financial position and its cash flows.

External stakeholders use the financial statements

to analyze the business and make resource-allocation decisions--

decisions about whether or not to provide resources, often,

move from business activities to financial statements?

The accounting system collects and groups the activities,

so it can eventually produce the financial statements.

Who decides how to group business activities?

specify the categories, called financial reporting elements,

that all business activities are divided into.

By grouping the activities into elements,

we can eventually provide financial statements

to external stakeholders that are useful for decision making.

So what are the financial reporting elements

There are five elements-- assets, liabilities, equity,

Each element has characteristics that define them.

When we record the activities of the business,

we use those characteristics to determine if the transaction

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 cellphone is an asset because I own it.

Second, assets provide future economic benefit.

That means that 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's used to manufacture potato chips,

or a lawn mower that's used to provide lawncare services.

be used to get another asset, like giving up cash

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 benefit 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

that it's an asset now because the event has not

The transfer of ownership must already have taken place.

So to summarize, everything that a company owns

is considered an asset-- a resource obtained

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第2章動画1 財務報告の要素 (Chapter 2, Video 1, Financial Reporting Elements)

eventually

concept

obligation

instance

第2章 動画1 財務報告の要素 (Chapter 2, Video 1, Financial Reporting Elements)

eventually

concept

obligation

instance

第2章動画1 財務報告の要素 (Chapter 2, Video 1, Financial Reporting Elements)