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　　“IDEA”：
　　“IDE” 1st tier of I/S.
　　“A” directly flow to Retained earnings statement
　　Cost and Unexpired Costs（F1-17）
　　Cost is the amount actually paid for something.
　　Most kinds of cost expire in current period or in future period.
　　-Expired cost become expense of I/S.（COGS）
　　-Unexpired cost become assets of B/S.（Inventory）
　　-Unexpired cost will allocated in a systematic and rational manner or matched against Revenues from future period
　　Several kinds of cost NEVER expired
　　Land
　　“I” of “IDEA” is before income tax
　　“DEA” of “IDEA” are after income tax
　　2nd tier of “I”：Before Tax（F1-18）
　　2nd tier of “I”：Before Tax（F1-18）
　　Operating activities （Gross Concept， revenues， expenses）
　　Non-operating activities （Net Concept，gains，losses）
　　Income taxes = current + deferred
　　“DE” of “IDEA” are after income tax（F1-18）
　　“D”，Income （Loss）from Discontinued Operations，NET of tax
　　“E”，Extraordinary Items，NET of tax，
　　Unusual in nature
　　AND
　　Infrequent in occurrence
　　（if “OR”，Income from continuing operation）
　　“A” of “IDEA” are after income tax（F1-18）
　　“A”，Cumulative Effect of Change in Accounting Principle，NET of tax，Report on statement of retained Earnings.
　　Two types of income statement
　　Dose I/S report operating results separately from non-operating results？
　　“YES”，Multiple step I/S（F1-19）
　　“NO”，Single step I/S（F1-20）
　　Tip：The key is to find the line “Income（loss）from operations”
　　FI-2-1 Income from continuing operations
　　F1-2-2 Discontinued operations and exit or disposal activities
　　F1-2-3 Extraordinary items
　　F1-2-4 Accounting changes and error corrections
　　Component of an Entity（F1-21）
　　A part of an entity
　　Operations and cash flows can be clearly distinguished from the rest of entity
　　Two types of component qualified（F1-22）
　　-Has been disposed of，or
　　-Is classified as held for sale.
　　6 criteria（ALL meet）（F1-21）
　　Items included in Results of Discontinued Operations（F1-22）
　　Results of operations of the component
　　Gain/Loss on disposal of the component
　　Impairment Loss（and subsequent increases in fair value）
　　Pass Key of Discontinued Operations Calculation
　　某component在X1年12月15日符合Discontinued operations-HFS条件，预计X2年6月dispose，则X1.12.31报表中
　　X1.1.1-X1.12.31的损益全部记入DO.
　　X0.1.1-X0.12.31的损益重分类入DO.
　　通常要计提impairment
　　上述三项要用税后净值（1-税率）
　　所有资产不在计提折旧/摊销
　　X2年6月预计处置费用，记入X2年。
　　Exit or disposal activities（F1-25）
　　-Costs types
　　Involuntary employee termination costs
　　Terminate contract costs
　　Other costs associated
　　-Criteria for Liability Recognition
　　Obligating event occurred
　　Present obligation
　　No discretion to avoid
　　——Liability Measurement – Fair value
　　——Disclosure
　　FI-2-1 Income from continuing operations
　　F1-2-2 Discontinued operations and exit or disposal activities
　　F1-2-3 Extraordinary items
　　F1-2-4 Accounting changes and error corrections
　　Extraordinary items，NET of tax （F1-27）：
　　-Unusual AND Infrequent（expropriation by Gov.）
　　Income from Continuing Operations，GROSS：
　　-Unusual OR Infrequent（Sales of a factory building）
　　IFRS
　　-No extraordinary items.
　　Pass Key of Extraordinary Items
　　Examples of Non-extraordinary Items.
　　-Loss from strike
　　-Large write-downs or write-offs of AR，Inventory，Intangibles，Long-term securities
　　-Gain/loss from disposal of PPE
　　-Gain/Loss from foreign currency transactions or translation.
　　FI-2-1 Income from continuing operations
　　F1-2-2 Discontinued operations and exit or disposal activities
　　F1-2-3 Extraordinary items
　　F1-2-4 Accounting changes and error corrections
　　Accounting Change classified as：（F1-29）
　　-Estimate Change-Prospective
　　-Principle Change-GR：Retrospective + SR：Prospective
　　-Entity Change-Restate
　　Error Correction–Restate
　　-Real Error–Should not wrong at that time
　　-From non-GAAP method to GAAP method（cash basis to accrual basis）
　　Tip：会计政策变更与会计估计变更的区别
　　会计政策变更：是指企业对相同的交易或事项由原来采用的会计政策改用另一种会计政策的行为。如坏账核算从直接法改为备抵法。
　　会计估计变更：是指由于资产或负债的当前状况及预期经济利益和义务发生了变化，从而对资产或负债的账面价值或资产的定期消耗金额进行调整的行为。如坏账核算备抵法下6个月-12个月账龄的计提比例从5%调整为10%.
　　Tip： 会计估计变更与会计差错更正的区别
　　过去做出的判断，已不适用今天和未来的情况，那么我们要做出相应的调整。这种调整是政策变更、估计变更，还是差错更正？
　　在当时的历史条件下，另一名有适当经验的合格财务人员是否会做出相同的判断？
　　“是”，会计估计变更（05年底球型显示器生产线的减值准备提少了）
　　“否”，会计差错更正（10年底球型显示器生产线的减值准备提少了）
　　Change In Accounting Estimate：（F1-29）
　　it is determined that the estimate previously used by the company is incorrect.
　　Prospective
　　-Do not affect previous periods（R.E）
　　-Only affect current and future period
　　Change In Accounting Principle：（F1-30）
　　From one accounting principle to another acceptable accounting principle
　　GR： Retrospective
　　Adjusting beginning retained earnings in the earliest period presented.（R.E）
　　SR： Prospective
　　-Change effect impracticable to Estimate（to LIFO）
　　-Change in Depreciation Method
　　Change In Accounting Entity：（F1-32）
　　When the entity being reported on has changed composition.
　　Restate
　　-As if the new composition has existed on the earliest period in F/S.
　　IFRS does not include the concept of a change in accounting entity.
　　Error Correction：（F1-33）
　　Two types
　　-Real Error – Should not wrong at that time
　　-From non-GAAP method to GAAP method（cash basis to accrual basis）
　　Restate
　　As if the accounting treatment is correct on the earliest period in F/S.
　　IFRS does not include the concept of a change in accounting entity.
　　IDEA
　　I- before tax
　　DEA – net tax
　　E – unusual and infrequent
　　Accounting estimate/principle/entity change
　　-Estimate，prospective
　　-Principle，GR：retrospective
　　-Entity， restate
　　Error Correction - Restate
　　-From Non GAAP to GAAP/ Real error

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