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Treasury系列之 - Management's Discussion & Analysis (MD&A)

本文发表在 rolia.net 枫下论坛忙忙碌碌了两个月,在整个team的努力下,终于在上个星期五完成了公司2007全年和第四季度的MD&A - Management's Discussion & Analysis (管理层讨论与分析)。

MD&A,既包括公司管理层对过去一年(或季度)业绩的评价和讨论,也包括对会影响公司未来的重要事件、趋势 和不确定性的讨论与分析。MD&A compliments and supplements
the external financial statements and together they form the foundation for company's external reporting。

每个公司MD&A的内容和 disclosure 都不同,但大部分公司的MD&A会follow以下的disclosure framework (provided in CICA Guidance on MD&A disclosure and SEC
Guidance on MD&A disclosure ):

- The company`s vision, core businesses and strategy
- Key performance drivers & measures
- Results - historical and prospective analysis
- Disclosure regarding liquidity and capital resources
- Disclosure regarding critical accounting policies & estimates
- The risk and uncertainties that may shape and affect the achievement of
results

完成MD&A的整个过程,完完全全是一个team work,公司基本上所有的senior management都参与了。更有意思的是,senior management负责给出他们的看法和建议,而编写的
这个重任竟然落在了我们Treasury部门。从开始写第一份的draft到最后filed on SEDAR, 期间所花的时间和精力实在是有点不可思议。无数次的review,无数次的修
改,每个标点符号,大写小写,句子的语法,单词的拼写,数字的准确性, 必需反反复复的检查再检查。说句玩笑话,我这两个月每天睡觉做梦梦到的都是我们公司
的MD&A,就快可以倒背如流了! :-)

经过整个team两个月的努力,就在上个星期五的下午,参与了公司的annual & fourth quarter results news release 和 analyst conference call。周五的news release
和 filings on SEDAR为我们公司2007年的年底划上了一个圆满的句号!

对External Financial Statements 和 MD&A 感兴趣的朋友不妨去以下的网站看看。

Access to Public Filings:

SEDAR
www.sedar.com
- official site provides access to information filed by public companies
and investment funds with the Canadian Securities Administrator (CSA).

EDGAR
www.sec.gov/edgar.shtml
- official site provides access to information filed by public companies
with the U.S. Securities and Exchange Commission (SEC).更多精彩文章及讨论,请光临枫下论坛 rolia.net
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Replies, comments and Discussions:

  • 工作学习 / 事业与工作 / Treasury系列之 - Management's Discussion & Analysis (MD&A)
    本文发表在 rolia.net 枫下论坛忙忙碌碌了两个月,在整个team的努力下,终于在上个星期五完成了公司2007全年和第四季度的MD&A - Management's Discussion & Analysis (管理层讨论与分析)。

    MD&A,既包括公司管理层对过去一年(或季度)业绩的评价和讨论,也包括对会影响公司未来的重要事件、趋势 和不确定性的讨论与分析。MD&A compliments and supplements
    the external financial statements and together they form the foundation for company's external reporting。

    每个公司MD&A的内容和 disclosure 都不同,但大部分公司的MD&A会follow以下的disclosure framework (provided in CICA Guidance on MD&A disclosure and SEC
    Guidance on MD&A disclosure ):

    - The company`s vision, core businesses and strategy
    - Key performance drivers & measures
    - Results - historical and prospective analysis
    - Disclosure regarding liquidity and capital resources
    - Disclosure regarding critical accounting policies & estimates
    - The risk and uncertainties that may shape and affect the achievement of
    results

    完成MD&A的整个过程,完完全全是一个team work,公司基本上所有的senior management都参与了。更有意思的是,senior management负责给出他们的看法和建议,而编写的
    这个重任竟然落在了我们Treasury部门。从开始写第一份的draft到最后filed on SEDAR, 期间所花的时间和精力实在是有点不可思议。无数次的review,无数次的修
    改,每个标点符号,大写小写,句子的语法,单词的拼写,数字的准确性, 必需反反复复的检查再检查。说句玩笑话,我这两个月每天睡觉做梦梦到的都是我们公司
    的MD&A,就快可以倒背如流了! :-)

    经过整个team两个月的努力,就在上个星期五的下午,参与了公司的annual & fourth quarter results news release 和 analyst conference call。周五的news release
    和 filings on SEDAR为我们公司2007年的年底划上了一个圆满的句号!

    对External Financial Statements 和 MD&A 感兴趣的朋友不妨去以下的网站看看。

    Access to Public Filings:

    SEDAR
    www.sedar.com
    - official site provides access to information filed by public companies
    and investment funds with the Canadian Securities Administrator (CSA).

    EDGAR
    www.sec.gov/edgar.shtml
    - official site provides access to information filed by public companies
    with the U.S. Securities and Exchange Commission (SEC).更多精彩文章及讨论,请光临枫下论坛 rolia.net
    • Thanks for sharing your experience!!