WHEN CHINA BECOMES NO.1, WHAT HAPPENS THEN?

[Keel]

No demarcation of local and international? Were you blind? Your obsession was with "International Financial Balance Sheet" description by me remember?

Not that joke "ifbs" again
I told you the above questions and you gave me the links to "NIIP" for an answer not knowing the difference

LOL all non-existent! Forget about your "student loan" B/S?

Show them me if you know.


Oh so you are? By showing me "credit card" in corporate B/S?

there are thousands of standard B/S on the net
I pulled out the most simplied one for you trolls for a rebuttal and my easy follow up explanations if necessary

So I test your knowledge again:

"what is Credit cards balances or statement showing or not showing" in the financial statements of a corporaion. How do you treat Credit Cards in a corporation?

No more rhetoric, show me
1, a complete set of balance sheet
2. total assets of a territory or natin
3. Net worth

These are the sources of you dismal knowledge and ignorance
These are testing questions for your abilities

TROLL

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More than 10 min gone since my first input to post @196

Need another hour for the credit card google search? Troll

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[Shotgunner51]

I told you the above questions and you gave me the links to "NIIP" for an answer not knowing the difference

You told me jack. When central government buy a car in Beijing, credit domestic asset debit RMB cash. NOTHING to do with NIIP (described as International, Financial, construed as Balance Sheet).

Show me China or any nation's TOTAL FIXED ASSETS in a CONSOLIDATED B/S. You can't, cos there is NO such thing. LOL

there are thousands of standard B/S on the net
I pulled out the most simplied one for you trolls for a rebuttal and my easy follow up explanation

LOL ... you pulled the INDIVIDUAL balance sheet!

Now show me "NET WORTH" in any CORPORATE B/S.

So I test your knowledge again:

"what is Credit cards balances showing or not showing" in the financial statements of a corporaion

That was a INDIVIDUAL balance sheet, didn't you read? What stupid question.

"what is Credit cards balances or statement showing or not showing" in the financial statements of a corporaion. How do you treat Credit Cards in a corporation?

I will come back in 12 hours, during the mean time, show me for any nation:

1 a complete CONSOLIDATED balance sheet
2. total assets
3. Net worth

 

[Keel]

You told me jack. When central government buy a car in Beijing, credit domestic asset debit RMB cash. NOTHING to do with NIIP (described as International, Financial, construed as Balance Sheet).

Show me China or any nation's TOTAL FIXED ASSETS in a CONSOLIDATED B/S. You can't, cos there is NO such thing. LOL

dont repeat all the same stupidity again troll
It was me who asked you the questions for a complete set of Balance sheet etc
It was me who gave you the example of a government's purchase of motor vehicles etc then you alas finally knew your error and there the difference and what should be detailed in a complete set of B/S

LOL ... you pulled the INDIVIDUAL balance sheet!

Now show me "NET WORTH" in any CORPORATE B/S.

That was a INDIVIDUAL balance sheet, didn't you read? What stupid question

an individual or in business - a "sole" proprietor can prepare a balance sheet and in some countries it is a requirement when you present your tax return

By and large the concept of preparing a "individual"'s balance sheet is not different from a "corporate" one but the latter is a lot more complex because it may involve a whole lot more and dversified businesss activities

How do you understand the treatment of "credit cards" if you, ahem, in charge of a corporation ?

Get the answer troll?

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I will come back in 12 hours, during the mean time, show me for any nation:

1 a complete CONSOLIDATED balance sheet
2. total assets
3. Net worth

You are just silly
Any large and international corp {esp listed ones} have them on the net
It looks like you are not reading those a lot or not at all
.

This is one source where you can download the B/S . net worth etc etc
here

US & Canadian Company Financials Database

what a nuisance!
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Get your corporate financial statement from here:

Frequently Asked Questions

Annual reports - Company Information - Research Guides at City University of Hong Kong

Company Financial / Investment Data - Finance - LibGuides at The Chinese University of Hong Kong

and there are a lot more on the other portals of other bourses

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[rott]

@Keel and @Shotgunner51, the two of you should establish a CA office together.

 

[Aepsilons]

Excellent maintenance of composure under pressure, @Shotgunner51 , also great informatics dissemination. You have superior knowledge on this subject matter, my friend.

Anyways, let's get back to subject and not be trapped by this useless discussion with the member @Keel . His insistence to hold the irrational contrarian view to argue for the basis just to argue is a precedent. Let's get back on the gist of this thread subject matter --- Chinese growth sectors and appraisal there of .

I want to talk about :

• Energy security
• Ecological regional cooperation
• Space and meteorological research
• Security cooperation
• Peace keeping initiatives

Thanks, bro!

 

[oprih]

The thread is going another direction guys because of balance sheets! Anyway regarding the question if such thing happens I think countries like vietnam will quickly change her tone and immediately try to appease China, while for countries like india, their sensationalist media will have a meltdown along with their rockstar leader.

 

[Tiqiu]

Great, now I know where to seek help when lodging my next tax return.

Here's some comments of mine derived from my not very extensive accounting knowledge and experiences.

Regarding to Balance Sheet, I think standard statuary corporate financial reporting, eg Balance Sheet, Income Statement and Cash Flow Statement, is inadequate for a nation to monitor and report its economic and financial wellbeing. The reason is simple, all counties other than the U.S need to give extra worries to their exchange rate relative to the dollar on top of how their domestic economy fares. Adverse or unfavorable exchange rate movements can be detrimental and lethal to a notion's security, the extent of the damage and vulnerability of the nation were well demonstrated in the past event of 1997 Asian Financial Crises and 2001 Argentina Default. That is why Balance of Payment and NIIP are important for a nation, especially those which have heavy foreign debts and whose fixed exchange rate is overvalued.

Although there wasn’t International financial Balance Sheet officially existing, at least not that I know of, people need to applause to the very creation of this concept or notion because innovative and creative thinking needs to be encouraged. Plus it may be a good notion which, once fledged, will lead to a quick reference or measurement of a nation’s strength when facing financial crises. Thus I can understand why it was brought up by Shotgunner in this very tread.

Also, the Net International Position table posed at 125# is very illustrative and informative about which country is the main provider of a special type of merchandise called money/investment to the world. The fact that China is fast catching up to the top not only reflects China’s rise in its economic power, it also shows China is a main driving force for the world economic development. When China goes to the top, peace and development becomes the main theme.

INFOGRAPHIC: China's total investment in Africa
INFOGRAPHIC: China's total investment in Africa | South China Morning Post

 

[Keel]

Excellent maintenance of composure under pressure, @Shotgunner51 , also great informatics dissemination. You have superior knowledge on this subject matter, my friend.

Anyways, let's get back to subject and not be trapped by this useless discussion with the member @Keel . His insistence to hold the irrational contrarian view to argue for the basis just to argue is a precedent. Let's get back on the gist of this thread subject matter --- Chinese growth sectors and appraisal there of .

I want to talk about :

• Energy security
• Ecological regional cooperation
• Space and meteorological research
• Security cooperation
• Peace keeping initiatives

Thanks, bro!

pls leave the discussion when you have nothing to contribute to the heated discussion above, fanboy!

Great, now I know where to seek help when lodging my next tax return.

Here's some comments of mine derived from my not very extensive accounting knowledge and experiences.

Regarding to Balance Sheet, I think standard statuary corporate financial reporting, eg Balance Sheet, Income Statement and Cash Flow Statement, is inadequate for a nation to monitor and report its economic and financial wellbeing. The reason is simple, all counties other than the U.S need to give extra worries to their exchange rate relative to the dollar on top of how their domestic economy fares. Adverse or unfavorable exchange rate movements can be detrimental and lethal to a notion's security, the extent of the damage and vulnerability of the nation were well demonstrated in the past event of 1997 Asian Financial Crises and 2001 Argentina Default. That is why Balance of Payment and NIIP are important for a nation, especially those which have heavy foreign debts and whose fixed exchange rate is overvalued.

Although there wasn’t International financial Balance Sheet officially existing, at least not that I know of, people need to applause to the very creation of this concept or notion because innovative and creative thinking needs to be encouraged. Plus it may be a good notion which, once fledged, will lead to a quick reference or measurement of a nation’s strength when facing financial crises. Thus I can understand why it was brought up by Shotgunner in this very tread.

Also, the Net International Position table posed at 125# is very illustrative and informative about which country is the main provider of a special type of merchandise called money/investment to the world. The fact that China is fast catching up to the top not only reflects China’s rise in its economic power, it also shows China is a main driving force for the world economic development. When China goes to the top, peace and development becomes the main theme.

INFOGRAPHIC: China's total investment in Africa
INFOGRAPHIC: China's total investment in Africa | South China Morning Post

As a good governmental practice every public admin and authority must maintain records to account for what they are spending or have spent either in acquisition of fixed assets, investments or in expenditures like governmental salaries, repair and maintenance etc
Your mentioning of exchange rates is irrelevant and not an excuse for not keeping good finance and accounting records because every country and every corp with international trade also have to tackle the foreign exchange issues and you need good set of records as effective tool to monitors and register the issues in the form of financial and accounting practices

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@Keel and @Shotgunner51, the two of you should establish a CA office together.

No thanks
the troll has his own "class"
If i may interprete this correctly he is presenting himself as the forum's "finance and economic consultant" for everything so i am humbly excuse myself from your invitation
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[Tiqiu]

Perhaps we need to define the topic of this discussion first to make sure we are on the same page. My understanding of your guys debating is Can nations have Balance Sheets to report/reflect their accumulated wealth?

If this is the case, then there is no balance sheet for any nation at all. Governments and economists use GDP to measure the flow of national income, equivalent to P/L(Income Statement) measuring corporations. But a nation will also keep Balance of Payments ledger consisting of Current Account and Capital Account to track whether it has net inflow or outflow of the money. Surplus leads to appreciation of its currency and vice versa.

There was talking a few years ago that some economists had done some researches about the need for nations adopting accounting methodology to create balance sheets to account for their true wealth. It became controversial as
It is hard to put a monetary value for building,machinery,infrastructure,land,minerals,people,education and environment of a nation.

 

[Jlaw]

When a government say China buys capital goods in Beijing: On the domestic balance sheet, debit RMB cash, credit internal asset.

Totally unrelated to external INTERNATIONAL acccounts, get it?

If Chinese government buy an asset it should be:

DR Asset
CR Cash account

by crediting asset you are decreasing asset

"what is Credit cards balances or statement showing or not showing" in the financial statements of a corporaion. How do you treat Credit Cards in a corporation?

On a corporation it be treated like this. Credit cards are used by mangers/sales guys, etc for meals, travel etc. IT be treated like this:

DR various expenses from the credit card (income statement)
CR Accounts Payable- (balance sheet)

once accounts payable is paid, it be like this:

DR Accounts Payable- (balance sheet)
CR cash/ bank account- (balance sheet)

 

[Tiqiu]

If Chinese government buy an asset it should be:

DR Asset
CR Cash account

by crediting asset you are decreasing asset



On a corporation it be treated like this. Credit cards are used by mangers/sales guys, etc for meals, travel etc. IT be treated like this:

DR various expenses from the credit card (income statement)
CR Accounts Payable- (balance sheet)

once accounts payable is paid, it be like this:

DR Accounts Payable- (balance sheet)
CR cash/ bank account- (balance sheet)

HaHa, you are right ,accounting 101.

Let me try another one relating to credit card. Credit card limit is treated as the line of credit ,meaning a fund available should co. need it. When translation occurs, Dr. Current Asset(Expenses), Cr. Current Liability(Account Payable/Borrowings)

haha, another accountant.
I think you can be an CPA in Aussie since our accounting standards are similar.

 

[Jlaw]

HaHa, you are right ,accounting 101.

Let me try another one relating to credit card. Credit card limit is treated as the line of credit ,meaning a fund available should co. need it. When translation occurs, Dr. Current Asset(Expenses), Cr. Current Liability(Account Payable/Borrowings)

haha, another accountant.
I think you can be an CPA in Aussie since our accounting standards are similar.

Yes. CPA. But I like CMA better. It's more managerial and strategic, less the auditing crap and ledger management.

 

[LowPost]

Thanks buddy, but we are not a superpower. We're still a developing country.



Fair enough.

“We do not claim the role of a superpower. This role is very costly and it is meaningless”. - Vladimir Putin, 2016

The same quote can be applied to China as well.

Russia supports both Assad troops and rebels in battle against ISIS – Putin — RT News

 

[Tiqiu]

Yes. CPA. But I like CMA better. It's more managerial and strategic, less the auditing crap and ledger management.

True, those Variance Analysis, Goal Congruence etc techniques are also very useful in every aspects of life. Auditing is actually very useful if you embark on managerial careers or setting up your own business. Good corporate governance only comes from the knowledge of knowing where the internal control weakness is for your particular business.