# 资产负债表：全表结构与行业带读
在完整资产负债表中定位资源、义务与权益，沿所选行业查附注并解释余额变化。
Entry: zh-balance-sheet | Node: BF-05 | Language: zh | Editorial revision: 2026-09-21
## Teaching instructions
你负责 BF-05《资产负债表：全表结构与行业带读》。先让读者选择零售Costco或银行JPM；未选择时默认零售。共同部分加一条分支构成本次任务，另一分支和§5扩展不默认全读。不要先让读者完成三篇通识课。
先实际读取共同必读单元：
FASB Concepts Statement 8 Chapter 4（2021-12）
https://storage.fasb.org/Concepts_Statement_8-Chapter_4-Elements.pdf
E16–E70，资产、负债、权益的定义及完整特征单元。注意它不是具体计量规则。
OpenStax Principles of Accounting Vol.1（2019）§2.2：
https://openstax.org/books/principles-financial-accounting/pages/2-2-define-explain-and-provide-examples-of-current-and-noncurrent-assets-current-and-noncurrent-liabilities-equity-revenues-and-expenses
读取本节，采用报表结构与交易联系，不把简化措辞当作所有现行准则。
所选零售分支的必读：
https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm
Item 1 General及Membership相关完整单元；完整资产负债表p.39、现金流量表p.41；Note 1 Basis of Presentation、Fiscal Year、Reclassification、Cash and Cash Equivalents、Receivables Net、Merchandise Inventories、Revenue Recognition；Note 5 pp.53–54全文。
备选同公司PDF：
https://s201.q4cdn.com/287523651/files/doc_financials/2025/ar/COST-Annual-Report-2025.pdf
该PDF资产负债表是印刷p.37／物理p.43，不能沿用SEC的p.39。切换版本必须重新核表头、数值、附注标题，不凭页码猜读到什么。
所选银行分支的必读：
https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf
MD&A Introduction印刷p.46／物理p.78；完整资产负债表及VIE脚注p.167／物理p.199；Note 10 pp.228–229；Note 12 Loan accounting framework pp.236–238以及Loan portfolio p.239的完整构成表与脚注；Note 17 p.277全文。PDF表格查看原页。
选择净额列报扩展时再读Note 5 pp.207–209；选择现金流扩展时再读完整p.169及MD&A Cash flows analysis p.58。未读扩展时不声称已具备该处全部阅读。
每项记录标题、版本、实际范围、取得方式和支持当前教学的一句话。运行时读取日志初始为空，只记录本次实际取得的单元；只列书目、只打开链接、看到摘要均不满足。读取失败先找同机构原件或本包提供的已核对等价单元；仍缺就报告具体单元。
材料齐备后，先呈现所选完整原表。保留英文行、中文解释、两期、负数、小计、单位、括注和无金额披露。禁止将小计及明细重复相加，VIE脚注不能再加到主表。
零售诊断：让读者解释为什么库存减应付从−774到−1,667不能直接叫现金释放893。带读至现金流调整963，保留差额70未归因；再让读者用Note 5把租赁义务4,147放回原表，特别指出融资租赁资产在其他长期资产。
银行诊断：让读者区分两个deposits，再自行回接贷款三类、准备及普通股权益。准备比率匹配retained贷款；分母切换必须改名。不要用该比率直接判风险改善，也不要把普通股权益当CET1。
共同实验必须用正文完整假设，走完期初、赊购100、赊销150并结转100、付款、收款。每步同时显示余额和变化。默认现金100/权益100；现金为0且先付款时显示缺口100，不私自生成透支。让读者解释收款和付款为什么不再改变利润。
最后使用另一年列或另一分支的迁移题。通过标准是：能从整表定位，到附注核口径，完成计算，并说明计算的范围。只背比率或只会相加不算完成。反馈后明确一个已掌握关系和一个具体缺口，避免反复免责式总结。不做估值、不读用户账户。
Before substantive teaching, actually retrieve every required reading unit for the selected scope. Read its complete designated section, including necessary assumptions, tables and footnotes. A working URL or an editorial access date is not a runtime reading receipt. Record the actual version, location, scope and what it supports. If unavailable, use a previously verified equivalent source; if the required unit remains unavailable, identify that gap rather than teach it from memory. Start runtime_reading_log empty. Once reading is complete, use a substantive diagnostic or follow the reader's request for direct explanation. Advance one complete reasoning task at a time; skip mastered basics. Distinguish original facts, supplied teaching assumptions and inference.
## Required readings and runtime protocol
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"scope": "OpenStax Principles of Accounting Vol.1（2019）§2.2：\nhttps://openstax.org/books/principles-financial-accounting/pages/2-2-define-explain-and-provide-examples-of-current-and-noncurrent-assets-current-and-noncurrent-liabilities-equity-revenues-and-expenses\n读取本节，采用报表结构与交易联系，不把简化措辞当作所有现行准则。",
"purpose": "共同报表结构与交易联系"
},
"supports": "OpenStax Principles of Accounting Vol.1（2019）§2.2：\n读取本节，采用报表结构与交易联系，不把简化措辞当作所有现行准则。",
"fallback_source_ids": []
},
{
"source_id": "BF-S-JPM-FY2025",
"title": "JPMorgan Chase & Co. · 2025 Annual Report",
"authors": [
"JPMorgan Chase & Co."
],
"version": "2025 Annual Report；集团合并，非银行子公司单体",
"access": {
"kind": "pdf_full_text",
"uri": "https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf",
"verified_access_at": "2026-09-21"
},
"required_unit": {
"locator": "MD&A Introduction印刷p.46／物理p.78；完整资产负债表及VIE脚注p.167／物理p.199；Note 10 pp.228–229；Note 12 Loan accounting framework pp.236–238以及Loan portfolio p.239的完整构成表与脚注；Note 17 p.277全文。PDF表格查看原页。",
"scope": "https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf\nMD&A Introduction印刷p.46／物理p.78；完整资产负债表及VIE脚注p.167／物理p.199；Note 10 pp.228–229；Note 12 Loan accounting framework pp.236–238以及Loan portfolio p.239的完整构成表与脚注；Note 17 p.277全文。PDF表格查看原页。",
"purpose": "银行完整原表、VIE脚注、贷款与存款等承重附注"
},
"supports": "MD&A Introduction印刷p.46／物理p.78；完整资产负债表及VIE脚注p.167／物理p.199；Note 10 pp.228–229；Note 12 Loan accounting framework pp.236–238以及Loan portfolio p.239的完整构成表与脚注；Note 17 p.277全文。PDF表格查看原页。",
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"authors": [
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"version": "2025 Annual Report；集团合并，非银行子公司单体",
"access": {
"kind": "pdf_full_text",
"uri": "https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf",
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},
"required_unit": {
"locator": "MD&A Introduction印刷p.46／物理p.78；完整资产负债表及VIE脚注p.167／物理p.199；Note 10 pp.228–229；Note 12 Loan accounting framework pp.236–238以及Loan portfolio p.239的完整构成表与脚注；Note 17 p.277全文。PDF表格查看原页。",
"scope": "https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf\nMD&A Introduction印刷p.46／物理p.78；完整资产负债表及VIE脚注p.167／物理p.199；Note 10 pp.228–229；Note 12 Loan accounting framework pp.236–238以及Loan portfolio p.239的完整构成表与脚注；Note 17 p.277全文。PDF表格查看原页。",
"purpose": "银行完整原表、VIE脚注、贷款与存款等承重附注"
},
"supports": "MD&A Introduction印刷p.46／物理p.78；完整资产负债表及VIE脚注p.167／物理p.199；Note 10 pp.228–229；Note 12 Loan accounting framework pp.236–238以及Loan portfolio p.239的完整构成表与脚注；Note 17 p.277全文。PDF表格查看原页。",
"fallback_source_ids": [],
"for_branch": "BS-BANKING",
"required_when_selected": true
},
{
"source_id": "BF-S-COST-FY2025-PDF",
"title": "Costco Wholesale Corporation · 2025 Annual Report（股东年报 PDF）",
"authors": [
"Costco Wholesale Corporation"
],
"version": "FY2025；同年报另一排版版本",
"access": {
"kind": "pdf_full_text",
"uri": "https://s201.q4cdn.com/287523651/files/doc_financials/2025/ar/COST-Annual-Report-2025.pdf",
"verified_access_at": "2026-09-21"
},
"required_unit": {
"locator": "该PDF资产负债表是印刷p.37／物理p.43，不能沿用SEC的p.39。切换版本必须重新核表头、数值、附注标题，不凭页码猜读到什么。",
"scope": "https://s201.q4cdn.com/287523651/files/doc_financials/2025/ar/COST-Annual-Report-2025.pdf\n该PDF资产负债表是印刷p.37／物理p.43，不能沿用SEC的p.39。切换版本必须重新核表头、数值、附注标题，不凭页码猜读到什么。",
"purpose": "Costco股东年报PDF备选；转换版本重新核表头、数值与附注标题"
},
"supports": "该PDF资产负债表是印刷p.37／物理p.43，不能沿用SEC的p.39。切换版本必须重新核表头、数值、附注标题，不凭页码猜读到什么。",
"fallback_source_ids": [],
"role": "alternative_version",
"for_branch": "BS-RETAIL",
"equivalent_scope": "原稿仅明确登记资产负债表已核数值相同；其余所需单元仍按标题和范围核对"
},
{
"source_id": "BF-S-JPM-FY2025",
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"access": {
"kind": "pdf_full_text",
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"verified_access_at": "2026-09-21"
},
"required_unit": {
"locator": "选择净额列报扩展时再读Note 5 pp.207–209；选择现金流扩展时再读完整p.169及MD&A Cash flows analysis p.58。未读扩展时不声称已具备该处全部阅读。",
"scope": "https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf\n选择净额列报扩展时再读Note 5 pp.207–209；选择现金流扩展时再读完整p.169及MD&A Cash flows analysis p.58。未读扩展时不声称已具备该处全部阅读。",
"purpose": "仅在选择相应扩展时读取净额列报或现金流单元"
},
"supports": "选择净额列报扩展时再读Note 5 pp.207–209；选择现金流扩展时再读完整p.169及MD&A Cash flows analysis p.58。未读扩展时不声称已具备该处全部阅读。",
"fallback_source_ids": [],
"role": "extension",
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"for_branch": "BS-BANKING"
}
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"supplied_inputs": {
"source_version": "2026-09-21.BF-A.rev-1",
"tables": [
{
"heading": "1 共同结构：同一张表的两面",
"headers": [
"共同板块",
"通常要区分什么",
"阅读时要补的条件"
],
"rows": [
[
"资产",
"现金和收款权、待销售资源、长期使用资源及其他资产",
"归属谁、怎样计量、能否变现或用于履约"
],
[
"负债",
"供应商及员工应付、客户相关义务、借款、租赁等",
"欠谁、何时履行、用现金还是商品或服务履行"
],
[
"权益",
"股本、其他投入、留存收益、其他综合收益累计额、库存股等",
"总权益中有哪些不同权利；是否还需区分普通股、优先股和其他归属"
]
],
"markdown": "| 共同板块 | 通常要区分什么 | 阅读时要补的条件 |\n|---|---|---|\n| 资产 | 现金和收款权、待销售资源、长期使用资源及其他资产 | 归属谁、怎样计量、能否变现或用于履约 |\n| 负债 | 供应商及员工应付、客户相关义务、借款、租赁等 | 欠谁、何时履行、用现金还是商品或服务履行 |\n| 权益 | 股本、其他投入、留存收益、其他综合收益累计额、库存股等 | 总权益中有哪些不同权利；是否还需区分普通股、优先股和其他归属 |"
},
{
"heading": "2.1 先看到整张表",
"headers": [
"英文原行",
"中文名称",
"2025-08-31",
"2024-09-01"
],
"rows": [
[
"**ASSETS**",
"**资产**",
"",
""
],
[
" **CURRENT ASSETS**",
"**流动资产**",
"",
""
],
[
" Cash and cash equivalents",
"现金及现金等价物",
"14,161",
"9,906"
],
[
" Short-term investments",
"短期投资",
"1,123",
"1,238"
],
[
" Receivables, net",
"应收款净额",
"3,203",
"2,721"
],
[
" Merchandise inventories",
"商品存货",
"18,116",
"18,647"
],
[
" Other current assets",
"其他流动资产",
"1,777",
"1,734"
],
[
" **Total current assets**",
"**流动资产合计**",
"**38,380**",
"**34,246**"
],
[
" **OTHER ASSETS**",
"**其他资产**",
"",
""
],
[
" Property and equipment, net",
"物业及设备净额",
"31,909",
"29,032"
],
[
" Operating lease right-of-use assets",
"经营租赁使用权资产",
"2,725",
"2,617"
],
[
" Other long-term assets",
"其他长期资产",
"4,085",
"3,936"
],
[
"**TOTAL ASSETS**",
"**总资产**",
"**77,099**",
"**69,831**"
],
[
"**LIABILITIES AND EQUITY**",
"**负债与权益**",
"",
""
],
[
" **CURRENT LIABILITIES**",
"**流动负债**",
"",
""
],
[
" Accounts payable",
"应付账款",
"19,783",
"19,421"
],
[
" Accrued salaries and benefits",
"应计工资及福利",
"5,205",
"4,794"
],
[
" Accrued member rewards",
"应计会员奖励",
"2,677",
"2,435"
],
[
" Deferred membership fees",
"递延会员费",
"2,854",
"2,501"
],
[
" Other current liabilities",
"其他流动负债",
"6,589",
"6,313"
],
[
" **Total current liabilities**",
"**流动负债合计**",
"**37,108**",
"**35,464**"
],
[
" **OTHER LIABILITIES**",
"**其他负债**",
"",
""
],
[
" Long-term debt, excluding current portion",
"长期债务，不含流动部分",
"5,713",
"5,794"
],
[
" Long-term operating lease liabilities",
"长期经营租赁负债",
"2,460",
"2,375"
],
[
" Other long-term liabilities",
"其他长期负债",
"2,654",
"2,576"
],
[
"**TOTAL LIABILITIES**",
"**负债合计**",
"**47,935**",
"**46,209**"
],
[
"COMMITMENTS AND CONTINGENCIES",
"承诺及或有事项〔原表无金额〕",
"",
""
],
[
"**EQUITY**",
"**权益**",
"",
""
],
[
" Preferred stock \\$0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding",
"优先股：每股面值0.005美元；授权100,000,000股；无已发行及流通股",
"—",
"—"
],
[
" Common stock \\$0.005 par value; 900,000,000 shares authorized; 443,237,000 and 443,126,000 shares issued and outstanding",
"普通股：每股面值0.005美元；授权900,000,000股；两期已发行及流通443,237,000及443,126,000股",
"2",
"2"
],
[
" Additional paid-in capital",
"额外实缴资本",
"8,282",
"7,829"
],
[
" Accumulated other comprehensive loss",
"累计其他综合损失",
"(1,770)",
"(1,828)"
],
[
" Retained earnings",
"留存收益",
"22,650",
"17,619"
],
[
"**TOTAL EQUITY**",
"**权益合计**",
"**29,164**",
"**23,622**"
],
[
"**TOTAL LIABILITIES AND EQUITY**",
"**负债及权益合计**",
"**77,099**",
"**69,831**"
]
],
"markdown": "| 英文原行 | 中文名称 | 2025-08-31 | 2024-09-01 |\n|---|---|---:|---:|\n| **ASSETS** | **资产** | | |\n| **CURRENT ASSETS** | **流动资产** | | |\n| Cash and cash equivalents | 现金及现金等价物 | 14,161 | 9,906 |\n| Short-term investments | 短期投资 | 1,123 | 1,238 |\n| Receivables, net | 应收款净额 | 3,203 | 2,721 |\n| Merchandise inventories | 商品存货 | 18,116 | 18,647 |\n| Other current assets | 其他流动资产 | 1,777 | 1,734 |\n| **Total current assets** | **流动资产合计** | **38,380** | **34,246** |\n| **OTHER ASSETS** | **其他资产** | | |\n| Property and equipment, net | 物业及设备净额 | 31,909 | 29,032 |\n| Operating lease right-of-use assets | 经营租赁使用权资产 | 2,725 | 2,617 |\n| Other long-term assets | 其他长期资产 | 4,085 | 3,936 |\n| **TOTAL ASSETS** | **总资产** | **77,099** | **69,831** |\n| **LIABILITIES AND EQUITY** | **负债与权益** | | |\n| **CURRENT LIABILITIES** | **流动负债** | | |\n| Accounts payable | 应付账款 | 19,783 | 19,421 |\n| Accrued salaries and benefits | 应计工资及福利 | 5,205 | 4,794 |\n| Accrued member rewards | 应计会员奖励 | 2,677 | 2,435 |\n| Deferred membership fees | 递延会员费 | 2,854 | 2,501 |\n| Other current liabilities | 其他流动负债 | 6,589 | 6,313 |\n| **Total current liabilities** | **流动负债合计** | **37,108** | **35,464** |\n| **OTHER LIABILITIES** | **其他负债** | | |\n| Long-term debt, excluding current portion | 长期债务，不含流动部分 | 5,713 | 5,794 |\n| Long-term operating lease liabilities | 长期经营租赁负债 | 2,460 | 2,375 |\n| Other long-term liabilities | 其他长期负债 | 2,654 | 2,576 |\n| **TOTAL LIABILITIES** | **负债合计** | **47,935** | **46,209** |\n| COMMITMENTS AND CONTINGENCIES | 承诺及或有事项〔原表无金额〕 | | |\n| **EQUITY** | **权益** | | |\n| Preferred stock \\$0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding | 优先股：每股面值0.005美元；授权100,000,000股；无已发行及流通股 | — | — |\n| Common stock \\$0.005 par value; 900,000,000 shares authorized; 443,237,000 and 443,126,000 shares issued and outstanding | 普通股：每股面值0.005美元；授权900,000,000股；两期已发行及流通443,237,000及443,126,000股 | 2 | 2 |\n| Additional paid-in capital | 额外实缴资本 | 8,282 | 7,829 |\n| Accumulated other comprehensive loss | 累计其他综合损失 | (1,770) | (1,828) |\n| Retained earnings | 留存收益 | 22,650 | 17,619 |\n| **TOTAL EQUITY** | **权益合计** | **29,164** | **23,622** |\n| **TOTAL LIABILITIES AND EQUITY** | **负债及权益合计** | **77,099** | **69,831** |"
},
{
"heading": "2.2 商品已经进来，钱什么时候出去？",
"headers": [
"对照步骤",
"计算，百万美元",
"本步骤的身份"
],
"rows": [
[
"存货余额减少",
"`18,647−18,116=531`",
"两期余额差"
],
[
"应付余额增加",
"`19,783−19,421=362`",
"两期余额差"
],
[
"选定余额变化取反",
"`531+362=893`",
"供对照的派生数"
],
[
"现金流量表相应调整",
"`559+404=963`",
"原表期间调整合计"
],
[
"尚待归因差额",
"`963−893=70`",
"不能凭空填成汇率或非现金项目"
]
],
"markdown": "| 对照步骤 | 计算，百万美元 | 本步骤的身份 |\n|---|---:|---|\n| 存货余额减少 | `18,647−18,116=531` | 两期余额差 |\n| 应付余额增加 | `19,783−19,421=362` | 两期余额差 |\n| 选定余额变化取反 | `531+362=893` | 供对照的派生数 |\n| 现金流量表相应调整 | `559+404=963` | 原表期间调整合计 |\n| 尚待归因差额 | `963−893=70` | 不能凭空填成汇率或非现金项目 |"
},
{
"heading": "2.3 会员义务与门店资源，也在这张表里",
"headers": [
"租赁义务，百万美元",
"2025金额",
"已包含在主表的什么位置"
],
"rows": [
[
"流动经营租赁负债",
"208",
"其他流动负债"
],
[
"流动融资租赁负债",
"78",
"其他流动负债"
],
[
"长期经营租赁负债",
"2,460",
"主表单列的长期经营租赁负债"
],
[
"长期融资租赁负债",
"1,401",
"其他长期负债"
],
[
"**租赁负债合计**",
"**4,147**",
"`208+78+2,460+1,401`"
]
],
"markdown": "| 租赁义务，百万美元 | 2025金额 | 已包含在主表的什么位置 |\n|---|---:|---|\n| 流动经营租赁负债 | 208 | 其他流动负债 |\n| 流动融资租赁负债 | 78 | 其他流动负债 |\n| 长期经营租赁负债 | 2,460 | 主表单列的长期经营租赁负债 |\n| 长期融资租赁负债 | 1,401 | 其他长期负债 |\n| **租赁负债合计** | **4,147** | `208+78+2,460+1,401` |"
},
{
"heading": "3.1 先保留银行自己的全表结构",
"headers": [
"英文原行",
"中文名称",
"2025-12-31",
"2024-12-31"
],
"rows": [
[
"**Assets**",
"**资产**",
"",
""
],
[
" Cash and due from banks",
"现金及应收银行款",
"21,742",
"23,372"
],
[
" Deposits with banks",
"存放银行款项",
"321,596",
"445,945"
],
[
" Federal funds sold and securities purchased under resale agreements (included \\$327,018 and \\$286,771 at fair value)",
"拆出联邦基金及买入返售证券〔其中按公允价值计量327,018／286,771〕",
"336,426",
"295,001"
],
[
" Securities borrowed (included \\$98,111 and \\$83,962 at fair value)",
"借入证券〔其中按公允价值计量98,111／83,962〕",
"286,191",
"219,546"
],
[
" Trading assets (included assets pledged of \\$165,927 and \\$136,070)",
"交易资产〔其中已质押资产165,927／136,070〕",
"802,873",
"637,784"
],
[
" Available-for-sale securities (amortized cost of \\$507,226 and \\$411,045; included assets pledged of \\$7,735 and \\$10,162)",
"可供出售证券〔摊余成本507,226／411,045；其中已质押7,735／10,162〕",
"507,198",
"406,852"
],
[
" Held-to-maturity securities",
"持有至到期证券",
"270,134",
"274,468"
],
[
" **Investment securities, net of allowance for credit losses**",
"**投资证券，扣除信用损失准备后**",
"**777,332**",
"**681,320**"
],
[
" Loans (included \\$70,684 and \\$41,350 at fair value)",
"贷款，未扣贷款损失准备〔其中按公允价值计量70,684／41,350〕",
"1,493,429",
"1,347,988"
],
[
" Allowance for loan losses",
"贷款损失准备〔资产减项〕",
"(25,765)",
"(24,345)"
],
[
" **Loans, net of allowance for loan losses**",
"**贷款净额**",
"**1,467,664**",
"**1,323,643**"
],
[
" Accrued interest and accounts receivable",
"应计利息及应收账款",
"111,599",
"101,223"
],
[
" Premises and equipment",
"房屋及设备",
"36,244",
"32,223"
],
[
" Goodwill, MSRs and other intangible assets",
"商誉、按揭服务权及其他无形资产",
"64,458",
"64,560"
],
[
" Other assets (included \\$15,849 and \\$15,122 at fair value and assets pledged of \\$11,984 and \\$6,288)",
"其他资产〔其中按公允价值计量15,849／15,122；已质押11,984／6,288〕",
"198,775",
"178,197"
],
[
"**Total assets(a)**",
"**总资产〔附注(a)〕**",
"**4,424,900**",
"**4,002,814**"
],
[
"**Liabilities**",
"**负债**",
"",
""
],
[
" Deposits (included \\$20,930 and \\$33,768 at fair value)",
"客户存款〔其中按公允价值计量20,930／33,768〕",
"2,559,320",
"2,406,032"
],
[
" Federal funds purchased and securities loaned or sold under repurchase agreements (included \\$360,194 and \\$226,329 at fair value)",
"拆入联邦基金及证券借出或回购融资〔其中按公允价值计量360,194／226,329〕",
"442,396",
"296,835"
],
[
" Short-term borrowings (included \\$32,460 and \\$26,521 at fair value)",
"短期借款〔其中按公允价值计量32,460／26,521〕",
"64,776",
"52,893"
],
[
" Trading liabilities",
"交易负债",
"216,019",
"192,883"
],
[
" Accounts payable and other liabilities (included \\$6,660 and \\$5,893 at fair value)",
"应付账款及其他负债〔其中按公允价值计量6,660／5,893〕",
"316,794",
"280,672"
],
[
" Beneficial interests issued by consolidated VIEs (included \\$5 and \\$1 at fair value)",
"合并VIE发行的受益权益〔其中按公允价值计量5／1〕",
"27,951",
"27,323"
],
[
" Long-term debt (included \\$134,559 and \\$100,780 at fair value)",
"长期债务〔其中按公允价值计量134,559／100,780〕",
"435,206",
"401,418"
],
[
"**Total liabilities(a)**",
"**负债合计〔附注(a)〕**",
"**4,062,462**",
"**3,658,056**"
],
[
"Commitments and contingencies (refer to Notes 28, 29 and 30)",
"承诺及或有事项〔参见Notes 28、29、30；原表无金额〕",
"",
""
],
[
"**Stockholders’ equity**",
"**股东权益**",
"",
""
],
[
" Preferred stock (\\$1 par value; authorized 200,000,000 shares: issued 2,005,375 and 2,005,375 shares)",
"优先股：面值每股1美元；授权200,000,000股；两期已发行均为2,005,375股",
"20,045",
"20,050"
],
[
" Common stock (\\$1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)",
"普通股：面值每股1美元；授权9,000,000,000股；已发行4,104,933,895股",
"4,105",
"4,105"
],
[
" Additional paid-in capital",
"额外实缴资本",
"91,114",
"90,911"
],
[
" Retained earnings",
"留存收益",
"416,055",
"376,166"
],
[
" Accumulated other comprehensive losses",
"累计其他综合损失",
"(4,290)",
"(12,456)"
],
[
" Treasury stock, at cost (1,408,661,319 and 1,307,313,494 shares)",
"库存股，按成本〔股数1,408,661,319／1,307,313,494〕",
"(164,591)",
"(134,018)"
],
[
"**Total stockholders’ equity**",
"**股东权益合计**",
"**362,438**",
"**344,758**"
],
[
"**Total liabilities and stockholders’ equity**",
"**负债及股东权益合计**",
"**4,424,900**",
"**4,002,814**"
]
],
"markdown": "| 英文原行 | 中文名称 | 2025-12-31 | 2024-12-31 |\n|---|---|---:|---:|\n| **Assets** | **资产** | | |\n| Cash and due from banks | 现金及应收银行款 | 21,742 | 23,372 |\n| Deposits with banks | 存放银行款项 | 321,596 | 445,945 |\n| Federal funds sold and securities purchased under resale agreements (included \\$327,018 and \\$286,771 at fair value) | 拆出联邦基金及买入返售证券〔其中按公允价值计量327,018／286,771〕 | 336,426 | 295,001 |\n| Securities borrowed (included \\$98,111 and \\$83,962 at fair value) | 借入证券〔其中按公允价值计量98,111／83,962〕 | 286,191 | 219,546 |\n| Trading assets (included assets pledged of \\$165,927 and \\$136,070) | 交易资产〔其中已质押资产165,927／136,070〕 | 802,873 | 637,784 |\n| Available-for-sale securities (amortized cost of \\$507,226 and \\$411,045; included assets pledged of \\$7,735 and \\$10,162) | 可供出售证券〔摊余成本507,226／411,045；其中已质押7,735／10,162〕 | 507,198 | 406,852 |\n| Held-to-maturity securities | 持有至到期证券 | 270,134 | 274,468 |\n| **Investment securities, net of allowance for credit losses** | **投资证券，扣除信用损失准备后** | **777,332** | **681,320** |\n| Loans (included \\$70,684 and \\$41,350 at fair value) | 贷款，未扣贷款损失准备〔其中按公允价值计量70,684／41,350〕 | 1,493,429 | 1,347,988 |\n| Allowance for loan losses | 贷款损失准备〔资产减项〕 | (25,765) | (24,345) |\n| **Loans, net of allowance for loan losses** | **贷款净额** | **1,467,664** | **1,323,643** |\n| Accrued interest and accounts receivable | 应计利息及应收账款 | 111,599 | 101,223 |\n| Premises and equipment | 房屋及设备 | 36,244 | 32,223 |\n| Goodwill, MSRs and other intangible assets | 商誉、按揭服务权及其他无形资产 | 64,458 | 64,560 |\n| Other assets (included \\$15,849 and \\$15,122 at fair value and assets pledged of \\$11,984 and \\$6,288) | 其他资产〔其中按公允价值计量15,849／15,122；已质押11,984／6,288〕 | 198,775 | 178,197 |\n| **Total assets(a)** | **总资产〔附注(a)〕** | **4,424,900** | **4,002,814** |\n| **Liabilities** | **负债** | | |\n| Deposits (included \\$20,930 and \\$33,768 at fair value) | 客户存款〔其中按公允价值计量20,930／33,768〕 | 2,559,320 | 2,406,032 |\n| Federal funds purchased and securities loaned or sold under repurchase agreements (included \\$360,194 and \\$226,329 at fair value) | 拆入联邦基金及证券借出或回购融资〔其中按公允价值计量360,194／226,329〕 | 442,396 | 296,835 |\n| Short-term borrowings (included \\$32,460 and \\$26,521 at fair value) | 短期借款〔其中按公允价值计量32,460／26,521〕 | 64,776 | 52,893 |\n| Trading liabilities | 交易负债 | 216,019 | 192,883 |\n| Accounts payable and other liabilities (included \\$6,660 and \\$5,893 at fair value) | 应付账款及其他负债〔其中按公允价值计量6,660／5,893〕 | 316,794 | 280,672 |\n| Beneficial interests issued by consolidated VIEs (included \\$5 and \\$1 at fair value) | 合并VIE发行的受益权益〔其中按公允价值计量5／1〕 | 27,951 | 27,323 |\n| Long-term debt (included \\$134,559 and \\$100,780 at fair value) | 长期债务〔其中按公允价值计量134,559／100,780〕 | 435,206 | 401,418 |\n| **Total liabilities(a)** | **负债合计〔附注(a)〕** | **4,062,462** | **3,658,056** |\n| Commitments and contingencies (refer to Notes 28, 29 and 30) | 承诺及或有事项〔参见Notes 28、29、30；原表无金额〕 | | |\n| **Stockholders’ equity** | **股东权益** | | |\n| Preferred stock (\\$1 par value; authorized 200,000,000 shares: issued 2,005,375 and 2,005,375 shares) | 优先股：面值每股1美元；授权200,000,000股；两期已发行均为2,005,375股 | 20,045 | 20,050 |\n| Common stock (\\$1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 普通股：面值每股1美元；授权9,000,000,000股；已发行4,104,933,895股 | 4,105 | 4,105 |\n| Additional paid-in capital | 额外实缴资本 | 91,114 | 90,911 |\n| Retained earnings | 留存收益 | 416,055 | 376,166 |\n| Accumulated other comprehensive losses | 累计其他综合损失 | (4,290) | (12,456) |\n| Treasury stock, at cost (1,408,661,319 and 1,307,313,494 shares) | 库存股，按成本〔股数1,408,661,319／1,307,313,494〕 | (164,591) | (134,018) |\n| **Total stockholders’ equity** | **股东权益合计** | **362,438** | **344,758** |\n| **Total liabilities and stockholders’ equity** | **负债及股东权益合计** | **4,424,900** | **4,002,814** |"
},
{
"heading": "3.1 先保留银行自己的全表结构",
"headers": [
"英文原行",
"中文名称",
"2025-12-31",
"2024-12-31"
],
"rows": [
[
"**Assets**",
"**资产**",
"",
""
],
[
" Trading assets",
"交易资产",
"4,835",
"3,885"
],
[
" Loans",
"贷款",
"37,777",
"36,510"
],
[
" All other assets",
"其他资产",
"683",
"681"
],
[
"**Total assets**",
"**资产合计**",
"**43,295**",
"**41,076**"
],
[
"**Liabilities**",
"**负债**",
"",
""
],
[
" Beneficial interests issued by consolidated VIEs",
"合并VIE发行的受益权益",
"27,951",
"27,323"
],
[
" All other liabilities",
"其他负债",
"691",
"454"
],
[
"**Total liabilities**",
"**负债合计**",
"**28,642**",
"**27,777**"
]
],
"markdown": "| 英文原行 | 中文名称 | 2025-12-31 | 2024-12-31 |\n|---|---|---:|---:|\n| **Assets** | **资产** | | |\n| Trading assets | 交易资产 | 4,835 | 3,885 |\n| Loans | 贷款 | 37,777 | 36,510 |\n| All other assets | 其他资产 | 683 | 681 |\n| **Total assets** | **资产合计** | **43,295** | **41,076** |\n| **Liabilities** | **负债** | | |\n| Beneficial interests issued by consolidated VIEs | 合并VIE发行的受益权益 | 27,951 | 27,323 |\n| All other liabilities | 其他负债 | 691 | 454 |\n| **Total liabilities** | **负债合计** | **28,642** | **27,777** |"
},
{
"heading": "3.3 贷款不是一个只有总额的盒子",
"headers": [
"英文原类",
"中文",
"2025-12-31",
"2024-12-31"
],
"rows": [
[
"Retained",
"留存贷款",
"1,408,905",
"1,299,590"
],
[
"Held-for-sale",
"持有待售贷款",
"13,840",
"7,048"
],
[
"At fair value",
"按公允价值计量贷款",
"70,684",
"41,350"
],
[
"Total",
"未扣贷款损失准备的贷款合计",
"1,493,429",
"1,347,988"
]
],
"markdown": "| 英文原类 | 中文 | 2025-12-31 | 2024-12-31 |\n|---|---|---:|---:|\n| Retained | 留存贷款 | 1,408,905 | 1,299,590 |\n| Held-for-sale | 持有待售贷款 | 13,840 | 7,048 |\n| At fair value | 按公允价值计量贷款 | 70,684 | 41,350 |\n| Total | 未扣贷款损失准备的贷款合计 | 1,493,429 | 1,347,988 |"
},
{
"heading": "4 共同事件实验：一张表怎样随交易移动",
"headers": [
"步骤完成后",
"现金",
"应收",
"存货",
"总资产",
"应付／总负债",
"权益",
"累计本期利润",
"累计经营现金净额"
],
"rows": [
[
"S0 期初",
"100",
"0",
"0",
"100",
"0",
"100",
"0",
"0"
],
[
"S1 赊购100",
"100",
"0",
"100",
"200",
"100",
"100",
"0",
"0"
],
[
"S2 赊销150并结转100",
"100",
"150",
"0",
"250",
"100",
"150",
"50",
"0"
],
[
"S3 付款100",
"0",
"150",
"0",
"150",
"0",
"150",
"50",
"−100"
],
[
"S4 收款150",
"150",
"0",
"0",
"150",
"0",
"150",
"50",
"50"
]
],
"markdown": "| 步骤完成后 | 现金 | 应收 | 存货 | 总资产 | 应付／总负债 | 权益 | 累计本期利润 | 累计经营现金净额 |\n|---|---:|---:|---:|---:|---:|---:|---:|---:|\n| S0 期初 | 100 | 0 | 0 | 100 | 0 | 100 | 0 | 0 |\n| S1 赊购100 | 100 | 0 | 100 | 200 | 100 | 100 | 0 | 0 |\n| S2 赊销150并结转100 | 100 | 150 | 0 | 250 | 100 | 150 | 50 | 0 |\n| S3 付款100 | 0 | 150 | 0 | 150 | 0 | 150 | 50 | −100 |\n| S4 收款150 | 150 | 0 | 0 | 150 | 0 | 150 | 50 | 50 |"
},
{
"heading": "4 共同事件实验：一张表怎样随交易移动",
"headers": [
"箭头",
"现金变化",
"应收变化",
"存货变化",
"负债变化",
"权益变化",
"经济含义"
],
"rows": [
[
"S0→S1 赊购",
"0",
"0",
"+100",
"+100",
"0",
"商品与付款义务同时留下"
],
[
"S1→S2 销售并结转成本",
"0",
"+150",
"−100",
"0",
"+50",
"收款权替代商品，净收益增加权益"
],
[
"S2→S3 付款",
"−100",
"0",
"0",
"−100",
"0",
"清偿旧义务，不重复确认商品成本"
],
[
"S3→S4 收款",
"+150",
"−150",
"0",
"0",
"0",
"实现旧收款权，不重复确认销售收入"
]
],
"markdown": "| 箭头 | 现金变化 | 应收变化 | 存货变化 | 负债变化 | 权益变化 | 经济含义 |\n|---|---:|---:|---:|---:|---:|---|\n| S0→S1 赊购 | 0 | 0 | +100 | +100 | 0 | 商品与付款义务同时留下 |\n| S1→S2 销售并结转成本 | 0 | +150 | −100 | 0 | +50 | 收款权替代商品，净收益增加权益 |\n| S2→S3 付款 | −100 | 0 | 0 | −100 | 0 | 清偿旧义务，不重复确认商品成本 |\n| S3→S4 收款 | +150 | −150 | 0 | 0 | 0 | 实现旧收款权，不重复确认销售收入 |"
},
{
"heading": "5.1 衍生品的三个金额，不是同一层次",
"headers": [
"层次",
"计算，百万美元",
"能怎样称呼"
],
"rows": [
[
"未作所列抵销的应收总额",
"606,382",
"衍生品应收总额，不是名义本金"
],
[
"表内抵销之后",
"`606,382−548,605=57,777`",
"表内净应收"
],
[
"再考虑所列不能表内抵销的担保品",
"`57,777−28,891=28,886`",
"本附注相应净额，不改写主表列报"
]
],
"markdown": "| 层次 | 计算，百万美元 | 能怎样称呼 |\n|---|---|---|\n| 未作所列抵销的应收总额 | 606,382 | 衍生品应收总额，不是名义本金 |\n| 表内抵销之后 | `606,382−548,605=57,777` | 表内净应收 |\n| 再考虑所列不能表内抵销的担保品 | `57,777−28,891=28,886` | 本附注相应净额，不改写主表列报 |"
}
],
"source_input_schema": "BF-A.rev-1.unified-inputs",
"information_cutoff": "2026-09-21",
"units_and_limits": [
"金额默认单位为USD millions；股数单独使用shares；教学设定另列。",
"主表与附注明细分层保存；附注明细不得自动再加到主表总额。",
"Costco存货/应付余额反向变化893与现金流调整963之间的70保持未归因。"
],
"case_inputs": {
"COST-BS-20250831": {
"entity": "Costco Wholesale Corporation",
"periods": [
"2025-08-31",
"2024-09-01"
],
"statement_rows": [
{
"id": "assets",
"label_original_md": "**ASSETS**",
"label_zh_md": "**资产**",
"amounts": {
"2025-08-31": null,
"2024-09-01": null
},
"original_display": {
"2025-08-31": "",
"2024-09-01": ""
}
},
{
"id": "current_assets",
"label_original_md": "**CURRENT ASSETS**",
"label_zh_md": "**流动资产**",
"amounts": {
"2025-08-31": null,
"2024-09-01": null
},
"original_display": {
"2025-08-31": "",
"2024-09-01": ""
}
},
{
"id": "cash",
"label_original_md": "Cash and cash equivalents",
"label_zh_md": "现金及现金等价物",
"amounts": {
"2025-08-31": 14161,
"2024-09-01": 9906
},
"original_display": {
"2025-08-31": "14,161",
"2024-09-01": "9,906"
}
},
{
"id": "short_term_investments",
"label_original_md": "Short-term investments",
"label_zh_md": "短期投资",
"amounts": {
"2025-08-31": 1123,
"2024-09-01": 1238
},
"original_display": {
"2025-08-31": "1,123",
"2024-09-01": "1,238"
}
},
{
"id": "receivables_net",
"label_original_md": "Receivables, net",
"label_zh_md": "应收款净额",
"amounts": {
"2025-08-31": 3203,
"2024-09-01": 2721
},
"original_display": {
"2025-08-31": "3,203",
"2024-09-01": "2,721"
}
},
{
"id": "inventory",
"label_original_md": "Merchandise inventories",
"label_zh_md": "商品存货",
"amounts": {
"2025-08-31": 18116,
"2024-09-01": 18647
},
"original_display": {
"2025-08-31": "18,116",
"2024-09-01": "18,647"
}
},
{
"id": "other_current_assets",
"label_original_md": "Other current assets",
"label_zh_md": "其他流动资产",
"amounts": {
"2025-08-31": 1777,
"2024-09-01": 1734
},
"original_display": {
"2025-08-31": "1,777",
"2024-09-01": "1,734"
}
},
{
"id": "total_current_assets",
"label_original_md": "**Total current assets**",
"label_zh_md": "**流动资产合计**",
"amounts": {
"2025-08-31": 38380,
"2024-09-01": 34246
},
"original_display": {
"2025-08-31": "**38,380**",
"2024-09-01": "**34,246**"
}
},
{
"id": "other_assets",
"label_original_md": "**OTHER ASSETS**",
"label_zh_md": "**其他资产**",
"amounts": {
"2025-08-31": null,
"2024-09-01": null
},
"original_display": {
"2025-08-31": "",
"2024-09-01": ""
}
},
{
"id": "ppe_net",
"label_original_md": "Property and equipment, net",
"label_zh_md": "物业及设备净额",
"amounts": {
"2025-08-31": 31909,
"2024-09-01": 29032
},
"original_display": {
"2025-08-31": "31,909",
"2024-09-01": "29,032"
}
},
{
"id": "operating_lease_rou",
"label_original_md": "Operating lease right-of-use assets",
"label_zh_md": "经营租赁使用权资产",
"amounts": {
"2025-08-31": 2725,
"2024-09-01": 2617
},
"original_display": {
"2025-08-31": "2,725",
"2024-09-01": "2,617"
}
},
{
"id": "other_long_term_assets",
"label_original_md": "Other long-term assets",
"label_zh_md": "其他长期资产",
"amounts": {
"2025-08-31": 4085,
"2024-09-01": 3936
},
"original_display": {
"2025-08-31": "4,085",
"2024-09-01": "3,936"
}
},
{
"id": "total_assets",
"label_original_md": "**TOTAL ASSETS**",
"label_zh_md": "**总资产**",
"amounts": {
"2025-08-31": 77099,
"2024-09-01": 69831
},
"original_display": {
"2025-08-31": "**77,099**",
"2024-09-01": "**69,831**"
}
},
{
"id": "liabilities_and_equity",
"label_original_md": "**LIABILITIES AND EQUITY**",
"label_zh_md": "**负债与权益**",
"amounts": {
"2025-08-31": null,
"2024-09-01": null
},
"original_display": {
"2025-08-31": "",
"2024-09-01": ""
}
},
{
"id": "current_liabilities",
"label_original_md": "**CURRENT LIABILITIES**",
"label_zh_md": "**流动负债**",
"amounts": {
"2025-08-31": null,
"2024-09-01": null
},
"original_display": {
"2025-08-31": "",
"2024-09-01": ""
}
},
{
"id": "accounts_payable",
"label_original_md": "Accounts payable",
"label_zh_md": "应付账款",
"amounts": {
"2025-08-31": 19783,
"2024-09-01": 19421
},
"original_display": {
"2025-08-31": "19,783",
"2024-09-01": "19,421"
}
},
{
"id": "accrued_salaries_benefits",
"label_original_md": "Accrued salaries and benefits",
"label_zh_md": "应计工资及福利",
"amounts": {
"2025-08-31": 5205,
"2024-09-01": 4794
},
"original_display": {
"2025-08-31": "5,205",
"2024-09-01": "4,794"
}
},
{
"id": "accrued_member_rewards",
"label_original_md": "Accrued member rewards",
"label_zh_md": "应计会员奖励",
"amounts": {
"2025-08-31": 2677,
"2024-09-01": 2435
},
"original_display": {
"2025-08-31": "2,677",
"2024-09-01": "2,435"
}
},
{
"id": "deferred_membership_fees",
"label_original_md": "Deferred membership fees",
"label_zh_md": "递延会员费",
"amounts": {
"2025-08-31": 2854,
"2024-09-01": 2501
},
"original_display": {
"2025-08-31": "2,854",
"2024-09-01": "2,501"
}
},
{
"id": "other_current_liabilities",
"label_original_md": "Other current liabilities",
"label_zh_md": "其他流动负债",
"amounts": {
"2025-08-31": 6589,
"2024-09-01": 6313
},
"original_display": {
"2025-08-31": "6,589",
"2024-09-01": "6,313"
}
},
{
"id": "total_current_liabilities",
"label_original_md": "**Total current liabilities**",
"label_zh_md": "**流动负债合计**",
"amounts": {
"2025-08-31": 37108,
"2024-09-01": 35464
},
"original_display": {
"2025-08-31": "**37,108**",
"2024-09-01": "**35,464**"
}
},
{
"id": "other_liabilities",
"label_original_md": "**OTHER LIABILITIES**",
"label_zh_md": "**其他负债**",
"amounts": {
"2025-08-31": null,
"2024-09-01": null
},
"original_display": {
"2025-08-31": "",
"2024-09-01": ""
}
},
{
"id": "long_term_debt",
"label_original_md": "Long-term debt, excluding current portion",
"label_zh_md": "长期债务，不含流动部分",
"amounts": {
"2025-08-31": 5713,
"2024-09-01": 5794
},
"original_display": {
"2025-08-31": "5,713",
"2024-09-01": "5,794"
}
},
{
"id": "long_term_operating_lease_liabilities",
"label_original_md": "Long-term operating lease liabilities",
"label_zh_md": "长期经营租赁负债",
"amounts": {
"2025-08-31": 2460,
"2024-09-01": 2375
},
"original_display": {
"2025-08-31": "2,460",
"2024-09-01": "2,375"
}
},
{
"id": "other_long_term_liabilities",
"label_original_md": "Other long-term liabilities",
"label_zh_md": "其他长期负债",
"amounts": {
"2025-08-31": 2654,
"2024-09-01": 2576
},
"original_display": {
"2025-08-31": "2,654",
"2024-09-01": "2,576"
}
},
{
"id": "total_liabilities",
"label_original_md": "**TOTAL LIABILITIES**",
"label_zh_md": "**负债合计**",
"amounts": {
"2025-08-31": 47935,
"2024-09-01": 46209
},
"original_display": {
"2025-08-31": "**47,935**",
"2024-09-01": "**46,209**"
}
},
{
"id": "commitments_contingencies",
"label_original_md": "COMMITMENTS AND CONTINGENCIES",
"label_zh_md": "承诺及或有事项〔原表无金额〕",
"amounts": {
"2025-08-31": null,
"2024-09-01": null
},
"original_display": {
"2025-08-31": "",
"2024-09-01": ""
}
},
{
"id": "equity",
"label_original_md": "**EQUITY**",
"label_zh_md": "**权益**",
"amounts": {
"2025-08-31": null,
"2024-09-01": null
},
"original_display": {
"2025-08-31": "",
"2024-09-01": ""
}
},
{
"id": "preferred_stock",
"label_original_md": "Preferred stock \\$0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding",
"label_zh_md": "优先股：每股面值0.005美元；授权100,000,000股；无已发行及流通股",
"amounts": {
"2025-08-31": 0,
"2024-09-01": 0
},
"original_display": {
"2025-08-31": "—",
"2024-09-01": "—"
}
},
{
"id": "common_stock",
"label_original_md": "Common stock \\$0.005 par value; 900,000,000 shares authorized; 443,237,000 and 443,126,000 shares issued and outstanding",
"label_zh_md": "普通股：每股面值0.005美元；授权900,000,000股；两期已发行及流通443,237,000及443,126,000股",
"amounts": {
"2025-08-31": 2,
"2024-09-01": 2
},
"original_display": {
"2025-08-31": "2",
"2024-09-01": "2"
}
},
{
"id": "additional_paid_in_capital",
"label_original_md": "Additional paid-in capital",
"label_zh_md": "额外实缴资本",
"amounts": {
"2025-08-31": 8282,
"2024-09-01": 7829
},
"original_display": {
"2025-08-31": "8,282",
"2024-09-01": "7,829"
}
},
{
"id": "aocl",
"label_original_md": "Accumulated other comprehensive loss",
"label_zh_md": "累计其他综合损失",
"amounts": {
"2025-08-31": -1770,
"2024-09-01": -1828
},
"original_display": {
"2025-08-31": "(1,770)",
"2024-09-01": "(1,828)"
}
},
{
"id": "retained_earnings",
"label_original_md": "Retained earnings",
"label_zh_md": "留存收益",
"amounts": {
"2025-08-31": 22650,
"2024-09-01": 17619
},
"original_display": {
"2025-08-31": "22,650",
"2024-09-01": "17,619"
}
},
{
"id": "total_equity",
"label_original_md": "**TOTAL EQUITY**",
"label_zh_md": "**权益合计**",
"amounts": {
"2025-08-31": 29164,
"2024-09-01": 23622
},
"original_display": {
"2025-08-31": "**29,164**",
"2024-09-01": "**23,622**"
}
},
{
"id": "total_liabilities_equity",
"label_original_md": "**TOTAL LIABILITIES AND EQUITY**",
"label_zh_md": "**负债及权益合计**",
"amounts": {
"2025-08-31": 77099,
"2024-09-01": 69831
},
"original_display": {
"2025-08-31": "**77,099**",
"2024-09-01": "**69,831**"
}
}
],
"supplemental": {
"cashflow_2025": {
"beginning_cash": 9906,
"cfo": 13335,
"cfi": -5311,
"cff": -3775,
"fx": 6,
"ending_cash": 14161
},
"working_balance": {
"inventory_2025": 18116,
"inventory_2024": 18647,
"payables_2025": 19783,
"payables_2024": 19421,
"cf_inventory_adjustment": 559,
"cf_payables_adjustment": 404
},
"lease_2025": {
"current_operating": 208,
"current_finance": 78,
"long_term_operating": 2460,
"long_term_finance": 1401,
"finance_lease_assets_other_long_term_assets": 1488
}
}
},
"JPM-BS-20251231": {
"entity": "JPMorgan Chase & Co.",
"periods": [
"2025-12-31",
"2024-12-31"
],
"statement_rows": [
{
"id": "assets",
"label_original_md": "**Assets**",
"label_zh_md": "**资产**",
"amounts": {
"2025-12-31": null,
"2024-12-31": null
},
"original_display": {
"2025-12-31": "",
"2024-12-31": ""
}
},
{
"id": "cash_due_from_banks",
"label_original_md": "Cash and due from banks",
"label_zh_md": "现金及应收银行款",
"amounts": {
"2025-12-31": 21742,
"2024-12-31": 23372
},
"original_display": {
"2025-12-31": "21,742",
"2024-12-31": "23,372"
}
},
{
"id": "deposits_with_banks",
"label_original_md": "Deposits with banks",
"label_zh_md": "存放银行款项",
"amounts": {
"2025-12-31": 321596,
"2024-12-31": 445945
},
"original_display": {
"2025-12-31": "321,596",
"2024-12-31": "445,945"
}
},
{
"id": "fed_funds_sold_resale",
"label_original_md": "Federal funds sold and securities purchased under resale agreements (included \\$327,018 and \\$286,771 at fair value)",
"label_zh_md": "拆出联邦基金及买入返售证券〔其中按公允价值计量327,018／286,771〕",
"amounts": {
"2025-12-31": 336426,
"2024-12-31": 295001
},
"original_display": {
"2025-12-31": "336,426",
"2024-12-31": "295,001"
}
},
{
"id": "securities_borrowed",
"label_original_md": "Securities borrowed (included \\$98,111 and \\$83,962 at fair value)",
"label_zh_md": "借入证券〔其中按公允价值计量98,111／83,962〕",
"amounts": {
"2025-12-31": 286191,
"2024-12-31": 219546
},
"original_display": {
"2025-12-31": "286,191",
"2024-12-31": "219,546"
}
},
{
"id": "trading_assets",
"label_original_md": "Trading assets (included assets pledged of \\$165,927 and \\$136,070)",
"label_zh_md": "交易资产〔其中已质押资产165,927／136,070〕",
"amounts": {
"2025-12-31": 802873,
"2024-12-31": 637784
},
"original_display": {
"2025-12-31": "802,873",
"2024-12-31": "637,784"
}
},
{
"id": "afs_securities",
"label_original_md": "Available-for-sale securities (amortized cost of \\$507,226 and \\$411,045; included assets pledged of \\$7,735 and \\$10,162)",
"label_zh_md": "可供出售证券〔摊余成本507,226／411,045；其中已质押7,735／10,162〕",
"amounts": {
"2025-12-31": 507198,
"2024-12-31": 406852
},
"original_display": {
"2025-12-31": "507,198",
"2024-12-31": "406,852"
}
},
{
"id": "htm_securities",
"label_original_md": "Held-to-maturity securities",
"label_zh_md": "持有至到期证券",
"amounts": {
"2025-12-31": 270134,
"2024-12-31": 274468
},
"original_display": {
"2025-12-31": "270,134",
"2024-12-31": "274,468"
}
},
{
"id": "investment_securities_net",
"label_original_md": "**Investment securities, net of allowance for credit losses**",
"label_zh_md": "**投资证券，扣除信用损失准备后**",
"amounts": {
"2025-12-31": 777332,
"2024-12-31": 681320
},
"original_display": {
"2025-12-31": "**777,332**",
"2024-12-31": "**681,320**"
}
},
{
"id": "loans_gross",
"label_original_md": "Loans (included \\$70,684 and \\$41,350 at fair value)",
"label_zh_md": "贷款，未扣贷款损失准备〔其中按公允价值计量70,684／41,350〕",
"amounts": {
"2025-12-31": 1493429,
"2024-12-31": 1347988
},
"original_display": {
"2025-12-31": "1,493,429",
"2024-12-31": "1,347,988"
}
},
{
"id": "allowance_loan_losses",
"label_original_md": "Allowance for loan losses",
"label_zh_md": "贷款损失准备〔资产减项〕",
"amounts": {
"2025-12-31": -25765,
"2024-12-31": -24345
},
"original_display": {
"2025-12-31": "(25,765)",
"2024-12-31": "(24,345)"
}
},
{
"id": "loans_net",
"label_original_md": "**Loans, net of allowance for loan losses**",
"label_zh_md": "**贷款净额**",
"amounts": {
"2025-12-31": 1467664,
"2024-12-31": 1323643
},
"original_display": {
"2025-12-31": "**1,467,664**",
"2024-12-31": "**1,323,643**"
}
},
{
"id": "accrued_interest_receivables",
"label_original_md": "Accrued interest and accounts receivable",
"label_zh_md": "应计利息及应收账款",
"amounts": {
"2025-12-31": 111599,
"2024-12-31": 101223
},
"original_display": {
"2025-12-31": "111,599",
"2024-12-31": "101,223"
}
},
{
"id": "premises_equipment",
"label_original_md": "Premises and equipment",
"label_zh_md": "房屋及设备",
"amounts": {
"2025-12-31": 36244,
"2024-12-31": 32223
},
"original_display": {
"2025-12-31": "36,244",
"2024-12-31": "32,223"
}
},
{
"id": "goodwill_msrs_other_intangibles",
"label_original_md": "Goodwill, MSRs and other intangible assets",
"label_zh_md": "商誉、按揭服务权及其他无形资产",
"amounts": {
"2025-12-31": 64458,
"2024-12-31": 64560
},
"original_display": {
"2025-12-31": "64,458",
"2024-12-31": "64,560"
}
},
{
"id": "other_assets",
"label_original_md": "Other assets (included \\$15,849 and \\$15,122 at fair value and assets pledged of \\$11,984 and \\$6,288)",
"label_zh_md": "其他资产〔其中按公允价值计量15,849／15,122；已质押11,984／6,288〕",
"amounts": {
"2025-12-31": 198775,
"2024-12-31": 178197
},
"original_display": {
"2025-12-31": "198,775",
"2024-12-31": "178,197"
}
},
{
"id": "total_assets",
"label_original_md": "**Total assets(a)**",
"label_zh_md": "**总资产〔附注(a)〕**",
"amounts": {
"2025-12-31": 4424900,
"2024-12-31": 4002814
},
"original_display": {
"2025-12-31": "**4,424,900**",
"2024-12-31": "**4,002,814**"
}
},
{
"id": "liabilities",
"label_original_md": "**Liabilities**",
"label_zh_md": "**负债**",
"amounts": {
"2025-12-31": null,
"2024-12-31": null
},
"original_display": {
"2025-12-31": "",
"2024-12-31": ""
}
},
{
"id": "customer_deposits",
"label_original_md": "Deposits (included \\$20,930 and \\$33,768 at fair value)",
"label_zh_md": "客户存款〔其中按公允价值计量20,930／33,768〕",
"amounts": {
"2025-12-31": 2559320,
"2024-12-31": 2406032
},
"original_display": {
"2025-12-31": "2,559,320",
"2024-12-31": "2,406,032"
}
},
{
"id": "fed_funds_purchased_repo",
"label_original_md": "Federal funds purchased and securities loaned or sold under repurchase agreements (included \\$360,194 and \\$226,329 at fair value)",
"label_zh_md": "拆入联邦基金及证券借出或回购融资〔其中按公允价值计量360,194／226,329〕",
"amounts": {
"2025-12-31": 442396,
"2024-12-31": 296835
},
"original_display": {
"2025-12-31": "442,396",
"2024-12-31": "296,835"
}
},
{
"id": "short_term_borrowings",
"label_original_md": "Short-term borrowings (included \\$32,460 and \\$26,521 at fair value)",
"label_zh_md": "短期借款〔其中按公允价值计量32,460／26,521〕",
"amounts": {
"2025-12-31": 64776,
"2024-12-31": 52893
},
"original_display": {
"2025-12-31": "64,776",
"2024-12-31": "52,893"
}
},
{
"id": "trading_liabilities",
"label_original_md": "Trading liabilities",
"label_zh_md": "交易负债",
"amounts": {
"2025-12-31": 216019,
"2024-12-31": 192883
},
"original_display": {
"2025-12-31": "216,019",
"2024-12-31": "192,883"
}
},
{
"id": "accounts_payable_other_liabilities",
"label_original_md": "Accounts payable and other liabilities (included \\$6,660 and \\$5,893 at fair value)",
"label_zh_md": "应付账款及其他负债〔其中按公允价值计量6,660／5,893〕",
"amounts": {
"2025-12-31": 316794,
"2024-12-31": 280672
},
"original_display": {
"2025-12-31": "316,794",
"2024-12-31": "280,672"
}
},
{
"id": "vie_beneficial_interests",
"label_original_md": "Beneficial interests issued by consolidated VIEs (included \\$5 and \\$1 at fair value)",
"label_zh_md": "合并VIE发行的受益权益〔其中按公允价值计量5／1〕",
"amounts": {
"2025-12-31": 27951,
"2024-12-31": 27323
},
"original_display": {
"2025-12-31": "27,951",
"2024-12-31": "27,323"
}
},
{
"id": "long_term_debt",
"label_original_md": "Long-term debt (included \\$134,559 and \\$100,780 at fair value)",
"label_zh_md": "长期债务〔其中按公允价值计量134,559／100,780〕",
"amounts": {
"2025-12-31": 435206,
"2024-12-31": 401418
},
"original_display": {
"2025-12-31": "435,206",
"2024-12-31": "401,418"
}
},
{
"id": "total_liabilities",
"label_original_md": "**Total liabilities(a)**",
"label_zh_md": "**负债合计〔附注(a)〕**",
"amounts": {
"2025-12-31": 4062462,
"2024-12-31": 3658056
},
"original_display": {
"2025-12-31": "**4,062,462**",
"2024-12-31": "**3,658,056**"
}
},
{
"id": "commitments_contingencies",
"label_original_md": "Commitments and contingencies (refer to Notes 28, 29 and 30)",
"label_zh_md": "承诺及或有事项〔参见Notes 28、29、30；原表无金额〕",
"amounts": {
"2025-12-31": null,
"2024-12-31": null
},
"original_display": {
"2025-12-31": "",
"2024-12-31": ""
}
},
{
"id": "equity",
"label_original_md": "**Stockholders’ equity**",
"label_zh_md": "**股东权益**",
"amounts": {
"2025-12-31": null,
"2024-12-31": null
},
"original_display": {
"2025-12-31": "",
"2024-12-31": ""
}
},
{
"id": "preferred_stock",
"label_original_md": "Preferred stock (\\$1 par value; authorized 200,000,000 shares: issued 2,005,375 and 2,005,375 shares)",
"label_zh_md": "优先股：面值每股1美元；授权200,000,000股；两期已发行均为2,005,375股",
"amounts": {
"2025-12-31": 20045,
"2024-12-31": 20050
},
"original_display": {
"2025-12-31": "20,045",
"2024-12-31": "20,050"
}
},
{
"id": "common_stock",
"label_original_md": "Common stock (\\$1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)",
"label_zh_md": "普通股：面值每股1美元；授权9,000,000,000股；已发行4,104,933,895股",
"amounts": {
"2025-12-31": 4105,
"2024-12-31": 4105
},
"original_display": {
"2025-12-31": "4,105",
"2024-12-31": "4,105"
}
},
{
"id": "additional_paid_in_capital",
"label_original_md": "Additional paid-in capital",
"label_zh_md": "额外实缴资本",
"amounts": {
"2025-12-31": 91114,
"2024-12-31": 90911
},
"original_display": {
"2025-12-31": "91,114",
"2024-12-31": "90,911"
}
},
{
"id": "retained_earnings",
"label_original_md": "Retained earnings",
"label_zh_md": "留存收益",
"amounts": {
"2025-12-31": 416055,
"2024-12-31": 376166
},
"original_display": {
"2025-12-31": "416,055",
"2024-12-31": "376,166"
}
},
{
"id": "aocl",
"label_original_md": "Accumulated other comprehensive losses",
"label_zh_md": "累计其他综合损失",
"amounts": {
"2025-12-31": -4290,
"2024-12-31": -12456
},
"original_display": {
"2025-12-31": "(4,290)",
"2024-12-31": "(12,456)"
}
},
{
"id": "treasury_stock",
"label_original_md": "Treasury stock, at cost (1,408,661,319 and 1,307,313,494 shares)",
"label_zh_md": "库存股，按成本〔股数1,408,661,319／1,307,313,494〕",
"amounts": {
"2025-12-31": -164591,
"2024-12-31": -134018
},
"original_display": {
"2025-12-31": "(164,591)",
"2024-12-31": "(134,018)"
}
},
{
"id": "total_equity",
"label_original_md": "**Total stockholders’ equity**",
"label_zh_md": "**股东权益合计**",
"amounts": {
"2025-12-31": 362438,
"2024-12-31": 344758
},
"original_display": {
"2025-12-31": "**362,438**",
"2024-12-31": "**344,758**"
}
},
{
"id": "total_liabilities_equity",
"label_original_md": "**Total liabilities and stockholders’ equity**",
"label_zh_md": "**负债及股东权益合计**",
"amounts": {
"2025-12-31": 4424900,
"2024-12-31": 4002814
},
"original_display": {
"2025-12-31": "**4,424,900**",
"2024-12-31": "**4,002,814**"
}
}
],
"vie_note_rows": [
{
"id": "vie-assets",
"label_original_md": "**Assets**",
"label_zh_md": "**资产**",
"amounts": {
"2025-12-31": null,
"2024-12-31": null
},
"original_display": {
"2025-12-31": "",
"2024-12-31": ""
}
},
{
"id": "vie-trading_assets",
"label_original_md": "Trading assets",
"label_zh_md": "交易资产",
"amounts": {
"2025-12-31": 4835,
"2024-12-31": 3885
},
"original_display": {
"2025-12-31": "4,835",
"2024-12-31": "3,885"
}
},
{
"id": "vie-loans",
"label_original_md": "Loans",
"label_zh_md": "贷款",
"amounts": {
"2025-12-31": 37777,
"2024-12-31": 36510
},
"original_display": {
"2025-12-31": "37,777",
"2024-12-31": "36,510"
}
},
{
"id": "vie-all_other_assets",
"label_original_md": "All other assets",
"label_zh_md": "其他资产",
"amounts": {
"2025-12-31": 683,
"2024-12-31": 681
},
"original_display": {
"2025-12-31": "683",
"2024-12-31": "681"
}
},
{
"id": "vie-total_assets",
"label_original_md": "**Total assets**",
"label_zh_md": "**资产合计**",
"amounts": {
"2025-12-31": 43295,
"2024-12-31": 41076
},
"original_display": {
"2025-12-31": "**43,295**",
"2024-12-31": "**41,076**"
}
},
{
"id": "vie-liabilities",
"label_original_md": "**Liabilities**",
"label_zh_md": "**负债**",
"amounts": {
"2025-12-31": null,
"2024-12-31": null
},
"original_display": {
"2025-12-31": "",
"2024-12-31": ""
}
},
{
"id": "vie-beneficial_interests",
"label_original_md": "Beneficial interests issued by consolidated VIEs",
"label_zh_md": "合并VIE发行的受益权益",
"amounts": {
"2025-12-31": 27951,
"2024-12-31": 27323
},
"original_display": {
"2025-12-31": "27,951",
"2024-12-31": "27,323"
}
},
{
"id": "vie-all_other_liabilities",
"label_original_md": "All other liabilities",
"label_zh_md": "其他负债",
"amounts": {
"2025-12-31": 691,
"2024-12-31": 454
},
"original_display": {
"2025-12-31": "691",
"2024-12-31": "454"
}
},
{
"id": "vie-total_liabilities",
"label_original_md": "**Total liabilities**",
"label_zh_md": "**负债合计**",
"amounts": {
"2025-12-31": 28642,
"2024-12-31": 27777
},
"original_display": {
"2025-12-31": "**28,642**",
"2024-12-31": "**27,777**"
}
}
],
"supplemental": {
"loan_categories_2025": {
"retained": 1408905,
"held_for_sale": 13840,
"fair_value": 70684,
"gross_total": 1493429,
"allowance": -25765
},
"loan_categories_2024": {
"retained": 1299590,
"held_for_sale": 7048,
"fair_value": 41350,
"gross_total": 1347988,
"allowance": -24345
},
"deposits_2025": {
"us_noninterest": 583342,
"non_us_noninterest": 37057,
"total_deposits": 2559320
},
"deposits_2024": {
"us_noninterest": 592500,
"non_us_noninterest": 26806,
"total_deposits": 2406032
},
"securities_2025": {
"afs_carrying_fair_value": 507198,
"htm_carrying_amortized_cost": 270134,
"main_table_total": 777332,
"afs_to_htm_transfer_billion": 44.1
},
"common_equity_2025": {
"total_stockholders_equity": 362438,
"preferred_stock": 20045,
"issued_common_shares": 4104933895,
"treasury_shares": 1408661319
},
"derivative_receivables_2025": {
"gross_recognized": 606382,
"balance_sheet_netting": 548605,
"balance_sheet_net": 57777,
"collateral_not_balance_sheet_netted": 28891,
"note_net_amount": 28886
},
"cashflow_2025": {
"beginning": 469317,
"cfo": -147782,
"cfi": -265565,
"cff": 269533,
"fx": 17835,
"ending": 343338
}
}
}
},
"experiments": [
{
"id": "EXP-BF05-EVENTS",
"title": "赊购、赊销、付款与收款",
"anchor": "EXP-BF05-EVENTS",
"url": "/notebook/labs/bf-a/interactions.html#EXP-BF05-EVENTS",
"description": "原稿独立教学设定；不对应Costco或JPM交易记录。",
"inputs": {
"initial_cash": 100,
"initial_equity": 100,
"cost": 100,
"sales": 150,
"default_collect_first": false
},
"default_outputs": [
{
"event_label": "S0 期初",
"cash": 100,
"receivable": 0,
"inventory": 0,
"assets": 100,
"payable": 0,
"equity": 100,
"profit": 0,
"ocf": 0
},
{
"event_label": "S1 赊购100",
"cash": 100,
"receivable": 0,
"inventory": 100,
"assets": 200,
"payable": 100,
"equity": 100,
"profit": 0,
"ocf": 0
},
{
"event_label": "S2 赊销150并结转100",
"cash": 100,
"receivable": 150,
"inventory": 0,
"assets": 250,
"payable": 100,
"equity": 150,
"profit": 50,
"ocf": 0
},
{
"event_label": "S3 付款100",
"cash": 0,
"receivable": 150,
"inventory": 0,
"assets": 150,
"payable": 0,
"equity": 150,
"profit": 50,
"ocf": -100
},
{
"event_label": "S4 收款150",
"cash": 150,
"receivable": 0,
"inventory": 0,
"assets": 150,
"payable": 0,
"equity": 150,
"profit": 50,
"ocf": 50
}
],
"transitions": {
"heading": "4 共同事件实验：一张表怎样随交易移动",
"headers": [
"箭头",
"现金变化",
"应收变化",
"存货变化",
"负债变化",
"权益变化",
"经济含义"
],
"rows": [
[
"S0→S1 赊购",
"0",
"0",
"+100",
"+100",
"0",
"商品与付款义务同时留下"
],
[
"S1→S2 销售并结转成本",
"0",
"+150",
"−100",
"0",
"+50",
"收款权替代商品，净收益增加权益"
],
[
"S2→S3 付款",
"−100",
"0",
"0",
"−100",
"0",
"清偿旧义务，不重复确认商品成本"
],
[
"S3→S4 收款",
"+150",
"−150",
"0",
"0",
"0",
"实现旧收款权，不重复确认销售收入"
]
],
"markdown": "| 箭头 | 现金变化 | 应收变化 | 存货变化 | 负债变化 | 权益变化 | 经济含义 |\n|---|---:|---:|---:|---:|---:|---|\n| S0→S1 赊购 | 0 | 0 | +100 | +100 | 0 | 商品与付款义务同时留下 |\n| S1→S2 销售并结转成本 | 0 | +150 | −100 | 0 | +50 | 收款权替代商品，净收益增加权益 |\n| S2→S3 付款 | −100 | 0 | 0 | −100 | 0 | 清偿旧义务，不重复确认商品成本 |\n| S3→S4 收款 | +150 | −150 | 0 | 0 | 0 | 实现旧收款权，不重复确认销售收入 |"
},
"source_inputs": {
"initial_cash": 100,
"initial_equity": 100,
"purchase_cost": 100,
"sale_price": 150,
"default_order": [
"purchase",
"sale",
"pay",
"collect"
],
"alternative_order": [
"purchase",
"sale",
"collect",
"pay"
]
},
"computation_source": {
"language": "javascript",
"code": "// 纯计算函数；不访问账户、不获取外部数据。与正文同一组教学设定。\nfunction eventLedger(initialCash = 100, collectFirst = false) {\n if (!Number.isFinite(initialCash) || initialCash < 0) {\n throw new RangeError('期初现金必须为非负有限数');\n }\n if (typeof collectFirst !== 'boolean') {\n throw new TypeError('collectFirst必须为布尔值');\n }\n const s = {cash: initialCash, receivable: 0, inventory: 0,\n payable: 0, equity: initialCash, profit: 0, ocf: 0};\n const rows = [];\n const take = event => {\n const assets = s.cash + s.receivable + s.inventory;\n if (Math.abs(assets - s.payable - s.equity) > 1e-9) {\n throw new Error('资产负债关系不平');\n }\n rows.push({event, ...s, assets, balanceResidual: 0});\n };\n take('initial');\n s.inventory += 100; s.payable += 100; take('purchase');\n s.receivable += 150; s.inventory -= 100;\n s.equity += 50; s.profit += 50; take('sale');\n const order = collectFirst ? ['collect', 'pay'] : ['pay', 'collect'];\n for (const event of order) {\n if (event === 'pay') {\n if (s.cash < 100) return {rows, completed: false, fundingGap: 100 - s.cash};\n s.cash -= 100; s.payable -= 100; s.ocf -= 100;\n } else {\n s.cash += 150; s.receivable -= 150; s.ocf += 150;\n }\n take(event);\n }\n return {rows, completed: true, fundingGap: 0};\n}"
},
"outputs_origin": "原稿第4节完整静态表；导入未执行该函数"
}
],
"specification_markdown": "## 配套规格：原表阅读器、交互与静态等价\n\n### BF05-TABLES：完整原表不因高亮而消失\n\n输入分别绑定`COST-BS-20250831`与`JPM-BS-20251231`，年份顺序固定为较新／较旧，原始金额以百万美元保存。主表行ID就是本稿各行锚点去掉`cost-`或`jpm-`后的部分。完整表、脚注表和附注明细是不同数据层，只有明确的直接子项参加一个小计。\n\n默认显示共同结构和零售完整表；读者可切换银行。折叠只影响可见状态，不删除行或改变加总。全部展开、打印、无脚本模式均能读到两个完整表和说明。提供“定位原文”和“展开附注”按钮；原始值与派生比率区分。空白与原表破折号分开；任何股数、面值和百万美元不得共用同一个缩放开关。\n\n**加总合同。** Costco总资产只加流动资产小计、物业设备、经营租赁使用权和其他长期资产；JPM总资产只加各直接项目，证券用净小计、贷款用净小计，VIE脚注不参与主表。所有减项在数据层保留负号。正文两期合计及VIE内部合计可作为静态验收值。\n\n### BF05-RETAIL：余额变化与现金调整并排\n\n输入：`inventory_2024=18647, inventory_2025=18116, payable_2024=19421, payable_2025=19783, cf_inventory=559, cf_payable=404`。输出：`N_2024=-774, N_2025=-1667, delta_N=-893, reverse_delta=893, CF_adjustment=963, unexplained_difference=70`。默认历史数据不可编辑；“教学变式”另开命名空间，不覆盖历史数。点击差额只展示待查口径，不自动为其归因。静态等价为§2.2全部公式和表。\n\n### BF05-BANK：分子与分母必须一起说明\n\n输入来自§3.3的两期完整构成、准备负数，以及客户存款。默认展示`(-allowance)/retained_loans*100`，2025输出1.8287%；可切换“全部贷款作分母”的对照，输出1.7252%，同时出现“不是原留存贷款口径”的说明。币种不变，百分数仅乘100一次。不得把下降自动着色为风险改善。普通股每股账面值另以美元／股输出126.99和116.07，不与监管指标混名。\n\n### EXP-BF05-EVENTS：可复算状态转移\n\n状态字段为`cash, receivable, inventory, payable, equity, profit, ocf`，其中`profit`和`ocf`分别指本窗口累计利润和累计经营现金净额。期初`cash=equity=100`，其余0；采购成本`cost=100`，售价`sales=150`。允许顺序为`purchase → sale → pay → collect`或`purchase → sale → collect → pay`。付款须满足`cash>=cost`；其他事件不得重复执行。改变期初现金时权益同步改变，不引入未声明负债。\n\n```javascript\n// 纯计算函数；不访问账户、不获取外部数据。与正文同一组教学设定。\nfunction eventLedger(initialCash = 100, collectFirst = false) {\n if (!Number.isFinite(initialCash) || initialCash < 0) {\n throw new RangeError('期初现金必须为非负有限数');\n }\n if (typeof collectFirst !== 'boolean') {\n throw new TypeError('collectFirst必须为布尔值');\n }\n const s = {cash: initialCash, receivable: 0, inventory: 0,\n payable: 0, equity: initialCash, profit: 0, ocf: 0};\n const rows = [];\n const take = event => {\n const assets = s.cash + s.receivable + s.inventory;\n if (Math.abs(assets - s.payable - s.equity) > 1e-9) {\n throw new Error('资产负债关系不平');\n }\n rows.push({event, ...s, assets, balanceResidual: 0});\n };\n take('initial');\n s.inventory += 100; s.payable += 100; take('purchase');\n s.receivable += 150; s.inventory -= 100;\n s.equity += 50; s.profit += 50; take('sale');\n const order = collectFirst ? ['collect', 'pay'] : ['pay', 'collect'];\n for (const event of order) {\n if (event === 'pay') {\n if (s.cash < 100) return {rows, completed: false, fundingGap: 100 - s.cash};\n s.cash -= 100; s.payable -= 100; s.ocf -= 100;\n } else {\n s.cash += 150; s.receivable -= 150; s.ocf += 150;\n }\n take(event);\n }\n return {rows, completed: true, fundingGap: 0};\n}\n```\n\n静态默认五行及每一步变化见§4。初始现金0且先付款的预期结果为`completed=false, fundingGap=100`；改为先收款则完成，最终现金50、权益50、利润50、经营现金净额50。UI显示余额与变化两层，箭头文字使用§4的完整含义；不把所有事件画到权益。\n\n页面使用可访问标签、键盘和文字状态，不依赖颜色。股票价格、自动安全评分和银行存活概率不在这个交互中。这里给出静态结果和实现规格；网页实现另行完成。",
"outputs_origin": "原稿静态表、公式和配套规格；本导入仅提取"
},
"runtime_reading_log": []
}
```
## Supplied entry
一家企业已经开展了许多交易，有些结束了，有些仍留下商品、收款权或付款义务。资产负债表把某个时点尚留在账上的这些关系放在一起。因此，我们读的不是“这一年总共赚了多少”，也不是“把公司卖掉能拿多少钱”，而是**在指定日期、指定合并范围和计量规则下，企业确认了哪些资产、负债和权益**。[FASB]、[OPENSTAX-22]
这一篇可以选路阅读。零售分支从商品、供应商结算和门店资源进入；银行分支从资金来源、贷款计量和普通股归属进入。两条路都先给出完整原表，然后围绕几项真正连在一起的关系展开。选一条读完、做完练习，就完成本次学习；另一条可以用来检验哪些方法能够迁移。
## 1 共同结构：同一张表的两面
**在本篇采用的 FASB 概念框架中，资产是企业取得经济利益的现时权利；负债是企业转移经济利益的现时义务；权益是在资产扣除负债后的剩余利益。** 这三个定义指向权利与义务，不限于看得见的物品或已经收到的借款。[FASB]（E16、E37、E61–E66）
令某日的已确认资产、负债和权益分别为 $A,L,E$，则账面关系为 $A=L+E$。赊购货物可以使资产和负债同时增加；收回应收款可以只改变资产的构成；交付商品并确认净收益，则可能增加权益。等式要求各项相互衔接，但不会自动告诉我们交易的经济好坏。
| 共同板块 | 通常要区分什么 | 阅读时要补的条件 |
|---|---|---|
| 资产 | 现金和收款权、待销售资源、长期使用资源及其他资产 | 归属谁、怎样计量、能否变现或用于履约 |
| 负债 | 供应商及员工应付、客户相关义务、借款、租赁等 | 欠谁、何时履行、用现金还是商品或服务履行 |
| 权益 | 股本、其他投入、留存收益、其他综合收益累计额、库存股等 | 总权益中有哪些不同权利；是否还需区分普通股、优先股和其他归属 |
常见的非金融企业列报会再区分流动与非流动，考虑一年或正常经营周期等条件；它不是简单的“短期安全、长期危险”分组。银行可以采用不同列报。下面 JPMorgan 的原表就没有硬分出一组流动资产和流动负债，我们也不替它造一组。[OPENSTAX-22]、[JPM-BS]
还要留下一条界线：定义某种权利是什么、是否在报表确认、按多少金额计量，不是同一个问题。表内的设备净额、贷款净额和证券公允价值，不能因为都以美元表示，就当成按同一种方法测出的市场价值；账面未单列的经营能力，也不能随意估一个金额补进总资产。[FASB]、[JPM-SEC]、[JPM-LOAN]
## 2 零售分支：Costco
### 2.1 先看到整张表
**Costco Wholesale Corporation — CONSOLIDATED BALANCE SHEETS。** 合并范围为公司及其全资子公司，重大内部交易抵销。金额为**百万美元**；面值为美元／股，股数为股，不随金额单位缩放。2025与2024比较列均取自2025年报，保留该报的比较期列报。[COST-BS]、[COST-POLICY]
原件定位：**SEC 10-K 印刷p.39**；另一版股东年报PDF为**印刷p.37／物理p.43**，不能混用页码。以下按原序重排为中英对照，保留全部35行、板块和合计。空白表示该行没有金额，不表示零；优先股原表的破折号另由“无已发行及流通股”说明支持。[COST-BS]、[COST-PDF]
| 英文原行 | 中文名称 | 2025-08-31 | 2024-09-01 |
|---|---|---:|---:|
| **ASSETS** | **资产** | | |
| **CURRENT ASSETS** | **流动资产** | | |
| Cash and cash equivalents | 现金及现金等价物 | 14,161 | 9,906 |
| Short-term investments | 短期投资 | 1,123 | 1,238 |
| Receivables, net | 应收款净额 | 3,203 | 2,721 |
| Merchandise inventories | 商品存货 | 18,116 | 18,647 |
| Other current assets | 其他流动资产 | 1,777 | 1,734 |
| **Total current assets** | **流动资产合计** | **38,380** | **34,246** |
| **OTHER ASSETS** | **其他资产** | | |
| Property and equipment, net | 物业及设备净额 | 31,909 | 29,032 |
| Operating lease right-of-use assets | 经营租赁使用权资产 | 2,725 | 2,617 |
| Other long-term assets | 其他长期资产 | 4,085 | 3,936 |
| **TOTAL ASSETS** | **总资产** | **77,099** | **69,831** |
| **LIABILITIES AND EQUITY** | **负债与权益** | | |
| **CURRENT LIABILITIES** | **流动负债** | | |
| Accounts payable | 应付账款 | 19,783 | 19,421 |
| Accrued salaries and benefits | 应计工资及福利 | 5,205 | 4,794 |
| Accrued member rewards | 应计会员奖励 | 2,677 | 2,435 |
| Deferred membership fees | 递延会员费 | 2,854 | 2,501 |
| Other current liabilities | 其他流动负债 | 6,589 | 6,313 |
| **Total current liabilities** | **流动负债合计** | **37,108** | **35,464** |
| **OTHER LIABILITIES** | **其他负债** | | |
| Long-term debt, excluding current portion | 长期债务，不含流动部分 | 5,713 | 5,794 |
| Long-term operating lease liabilities | 长期经营租赁负债 | 2,460 | 2,375 |
| Other long-term liabilities | 其他长期负债 | 2,654 | 2,576 |
| **TOTAL LIABILITIES** | **负债合计** | **47,935** | **46,209** |
| COMMITMENTS AND CONTINGENCIES | 承诺及或有事项〔原表无金额〕 | | |
| **EQUITY** | **权益** | | |
| Preferred stock \$0.005 par value; 100,000,000 shares authorized; no shares issued and outstanding | 优先股：每股面值0.005美元；授权100,000,000股；无已发行及流通股 | — | — |
| Common stock \$0.005 par value; 900,000,000 shares authorized; 443,237,000 and 443,126,000 shares issued and outstanding | 普通股：每股面值0.005美元；授权900,000,000股；两期已发行及流通443,237,000及443,126,000股 | 2 | 2 |
| Additional paid-in capital | 额外实缴资本 | 8,282 | 7,829 |
| Accumulated other comprehensive loss | 累计其他综合损失 | (1,770) | (1,828) |
| Retained earnings | 留存收益 | 22,650 | 17,619 |
| **TOTAL EQUITY** | **权益合计** | **29,164** | **23,622** |
| **TOTAL LIABILITIES AND EQUITY** | **负债及权益合计** | **77,099** | **69,831** |
附注构成合并财务报表的一部分。普通股行中的2是按百万美元列示的股本金额，不是2百万股；“承诺及或有事项”没有主表金额，也不等于不存在相关承诺。[COST-BS]
先核全貌：2025年 `77,099 = 47,935 + 29,164`；2024年 `69,831 = 46,209 + 23,622`。汇总时用流动资产小计加其余资产，不能再把现金、存货等流动资产明细重复加一遍。
### 2.2 商品已经进来，钱什么时候出去？
我们沿实际经营过程读，而不是按表格顺序逐格念。Costco 的业务说明把快速周转和供应商结算联系起来，并说明其经常能在付款到期前售出商品。这为存货和应付提供了一个阅读方向，但是否在某个时点表现出来，仍要看数。[COST-BUS]
2024年末商品存货18,647，应付账款19,421；2025年末分别为18,116和19,783。只取这两项，定义一个本次分析使用的选定余额 $N=\text{商品存货}-\text{应付账款}$。它不是完整营运资本，也不表示两行中的每一笔合同都一一匹配。
$$
N_{2024}=18,647-19,421=-774,\qquad
N_{2025}=18,116-19,783=-1,667.
$$
所以 $\Delta N=-893$。这个计算告诉我们：**相对于所列应付，账上的商品存货净占用进一步降低了893。** 它与供应商结算支持商品周转的业务关系相容，却还不能直接改名为“今年释放现金893”。[COST-BS]（本文计算）
现在翻到现金流量表。2025年的存货变动调整是正559，应付账款变动调整是正404，合计963。若只用余额变化取反，会得到893，两者还差70。[COST-CF]
| 对照步骤 | 计算，百万美元 | 本步骤的身份 |
|---|---:|---|
| 存货余额减少 | `18,647−18,116=531` | 两期余额差 |
| 应付余额增加 | `19,783−19,421=362` | 两期余额差 |
| 选定余额变化取反 | `531+362=893` | 供对照的派生数 |
| 现金流量表相应调整 | `559+404=963` | 原表期间调整合计 |
| 尚待归因差额 | `963−893=70` | 不能凭空填成汇率或非现金项目 |
遇到差额，下一步是检查合并范围、重分类、汇兑及非现金变动等口径，而不是让计算“看起来闭合”。这些是待查的可能通道，不是已经证实的70的组成。本次保留差额，仍然已经得到一个重要结果：**相近的报表名称，并不保证余额差就是现金流量表的相应行。**
再看应收净额3,203，也不要自动补上一句“顾客赊账增加”。Note 1 的应收小节列出供应商款项、联名卡激励、再保险、第三方药房等来源；其中供应商应收包括折扣、销量返利等安排，通常与应付款分开列示，部分情形再按协议净额结算。企业是零售商，不代表每一项应收都来自零售顾客。[COST-RECEIVABLES]
### 2.3 会员义务与门店资源，也在这张表里
在商品和应付之外，表里还有递延会员费2,854、应计会员奖励2,677。前者连接尚待确认的会员服务收入；后者连接奖励安排，两者不是同一个“预收款”名称的不同写法。会员费收入按会员期间确认，奖励则按披露政策影响销售额并形成相应义务。[COST-REV]
门店与设施也不能从商品周转图里消失。2025年的物业设备净额31,909，加经营租赁使用权资产2,725，为34,634，占总资产约44.92%。这个比例只描述两个已确认账面项目的分量，既不是全部经营资源，也不是其市场价值。[COST-BS]（本文计算）
**使用权资产**在这里表示合同取得的使用能力；**租赁负债**表示相应付款义务。两者不必在后续每个时点都相等，读表时应分别追到各自的附注。Costco Note 5还告诉我们，融资租赁资产1,488列在**其他长期资产**，不是物业设备净额；因此不能按别家公司的常见位置替它归类。[COST-LEASE]
下面把同一附注的2025年租赁负债展开。它是对主表已有金额的分类说明，**不是额外再添4,147的负债**。
| 租赁义务，百万美元 | 2025金额 | 已包含在主表的什么位置 |
|---|---:|---|
| 流动经营租赁负债 | 208 | 其他流动负债 |
| 流动融资租赁负债 | 78 | 其他流动负债 |
| 长期经营租赁负债 | 2,460 | 主表单列的长期经营租赁负债 |
| 长期融资租赁负债 | 1,401 | 其他长期负债 |
| **租赁负债合计** | **4,147** | `208+78+2,460+1,401` |
来源：[COST-LEASE]，SEC印刷p.53，表下注释(1)–(3)。它让我们得到的不只是一个总数，还得到一张“附注明细已经装在哪个主表项目中”的地图。
### 2.4 回到全表，而不是停在几项比率
现在可以把零售分支合回去：商品和应付解释一部分经营占用，会员余额解释不同性质的客户义务，物业设备和租赁解释长期使用能力。现金、短期投资、其他资产、工资福利应付、债务及权益仍留在全表里，没有因为这次不深入分析就消失。
两期总资产增加7,268，对应负债增加1,726、权益增加5,542。这里回答的是账面规模怎样变动；5,542不能直接叫“本年利润”，因为盈利、分配和其他权益变化还需要回到权益表核对。[COST-BS]
最后检查现金的完整起讫。2025年现金流量表给出：
`9,906 + 13,335 − 5,311 − 3,775 + 6 = 14,161`。
依次是期初现金、经营、投资、筹资和汇率影响，终点接回资产负债表。现金增加4,255，并不是存货与应付调整963，也不是权益增加5,542。这几项本来就在描述不同关系。[COST-CF]
### 2.5 零售迁移练习
**题目。** 一位读者说：“Costco 2024年流动资产34,246小于流动负债35,464，所以当时无法经营；2025年流动比率超过1，问题就解决了。”请计算两个比率，再用本分支资料说明应怎样改写结论。随后解释为什么不能把4,147租赁负债加到47,935上。
**解析。** 两期流动比率分别为 `34246/35464≈0.9657` 和 `38380/37108≈1.0343`。这只是各时点已列流动项目的比值，不能代替到期时间、销售回款、供应商账期、可用资金和履约方式。会员义务与债务到期付款也不是同一种需求。因此可以说“比值由约0.966升至1.034”，但不能仅据此给出经营能否持续的判断。需要把存货周转、结算和现金流继续连起来。[COST-BS]、[COST-BUS]、[COST-CF]
4,147已分别包含在其他流动负债、长期经营租赁负债和其他长期负债中，再加一次会重复计入。正确动作是按附注重新分类展示，不改变原总负债。这也正是为什么我们要保留完整原表，而不是只摘几个看起来重要的数。[COST-LEASE]
## 3 银行分支：JPMorgan Chase & Co.
### 3.1 先保留银行自己的全表结构
**JPMorgan Chase & Co. — Consolidated balance sheets。** 这是集团合并表，不是 JPMorgan Chase Bank, N.A. 单体表。时点为2025-12-31和2024-12-31；金额为**百万美元**，面值和股数另列。原件为2025 Annual Report，**印刷p.167／物理p.199**。以下保留36行以及全部括注；原表没有流动／非流动小计。[JPM-BS]
| 英文原行 | 中文名称 | 2025-12-31 | 2024-12-31 |
|---|---|---:|---:|
| **Assets** | **资产** | | |
| Cash and due from banks | 现金及应收银行款 | 21,742 | 23,372 |
| Deposits with banks | 存放银行款项 | 321,596 | 445,945 |
| Federal funds sold and securities purchased under resale agreements (included \$327,018 and \$286,771 at fair value) | 拆出联邦基金及买入返售证券〔其中按公允价值计量327,018／286,771〕 | 336,426 | 295,001 |
| Securities borrowed (included \$98,111 and \$83,962 at fair value) | 借入证券〔其中按公允价值计量98,111／83,962〕 | 286,191 | 219,546 |
| Trading assets (included assets pledged of \$165,927 and \$136,070) | 交易资产〔其中已质押资产165,927／136,070〕 | 802,873 | 637,784 |
| Available-for-sale securities (amortized cost of \$507,226 and \$411,045; included assets pledged of \$7,735 and \$10,162) | 可供出售证券〔摊余成本507,226／411,045；其中已质押7,735／10,162〕 | 507,198 | 406,852 |
| Held-to-maturity securities | 持有至到期证券 | 270,134 | 274,468 |
| **Investment securities, net of allowance for credit losses** | **投资证券，扣除信用损失准备后** | **777,332** | **681,320** |
| Loans (included \$70,684 and \$41,350 at fair value) | 贷款，未扣贷款损失准备〔其中按公允价值计量70,684／41,350〕 | 1,493,429 | 1,347,988 |
| Allowance for loan losses | 贷款损失准备〔资产减项〕 | (25,765) | (24,345) |
| **Loans, net of allowance for loan losses** | **贷款净额** | **1,467,664** | **1,323,643** |
| Accrued interest and accounts receivable | 应计利息及应收账款 | 111,599 | 101,223 |
| Premises and equipment | 房屋及设备 | 36,244 | 32,223 |
| Goodwill, MSRs and other intangible assets | 商誉、按揭服务权及其他无形资产 | 64,458 | 64,560 |
| Other assets (included \$15,849 and \$15,122 at fair value and assets pledged of \$11,984 and \$6,288) | 其他资产〔其中按公允价值计量15,849／15,122；已质押11,984／6,288〕 | 198,775 | 178,197 |
| **Total assets(a)** | **总资产〔附注(a)〕** | **4,424,900** | **4,002,814** |
| **Liabilities** | **负债** | | |
| Deposits (included \$20,930 and \$33,768 at fair value) | 客户存款〔其中按公允价值计量20,930／33,768〕 | 2,559,320 | 2,406,032 |
| Federal funds purchased and securities loaned or sold under repurchase agreements (included \$360,194 and \$226,329 at fair value) | 拆入联邦基金及证券借出或回购融资〔其中按公允价值计量360,194／226,329〕 | 442,396 | 296,835 |
| Short-term borrowings (included \$32,460 and \$26,521 at fair value) | 短期借款〔其中按公允价值计量32,460／26,521〕 | 64,776 | 52,893 |
| Trading liabilities | 交易负债 | 216,019 | 192,883 |
| Accounts payable and other liabilities (included \$6,660 and \$5,893 at fair value) | 应付账款及其他负债〔其中按公允价值计量6,660／5,893〕 | 316,794 | 280,672 |
| Beneficial interests issued by consolidated VIEs (included \$5 and \$1 at fair value) | 合并VIE发行的受益权益〔其中按公允价值计量5／1〕 | 27,951 | 27,323 |
| Long-term debt (included \$134,559 and \$100,780 at fair value) | 长期债务〔其中按公允价值计量134,559／100,780〕 | 435,206 | 401,418 |
| **Total liabilities(a)** | **负债合计〔附注(a)〕** | **4,062,462** | **3,658,056** |
| Commitments and contingencies (refer to Notes 28, 29 and 30) | 承诺及或有事项〔参见Notes 28、29、30；原表无金额〕 | | |
| **Stockholders’ equity** | **股东权益** | | |
| Preferred stock (\$1 par value; authorized 200,000,000 shares: issued 2,005,375 and 2,005,375 shares) | 优先股：面值每股1美元；授权200,000,000股；两期已发行均为2,005,375股 | 20,045 | 20,050 |
| Common stock (\$1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares) | 普通股：面值每股1美元；授权9,000,000,000股；已发行4,104,933,895股 | 4,105 | 4,105 |
| Additional paid-in capital | 额外实缴资本 | 91,114 | 90,911 |
| Retained earnings | 留存收益 | 416,055 | 376,166 |
| Accumulated other comprehensive losses | 累计其他综合损失 | (4,290) | (12,456) |
| Treasury stock, at cost (1,408,661,319 and 1,307,313,494 shares) | 库存股，按成本〔股数1,408,661,319／1,307,313,494〕 | (164,591) | (134,018) |
| **Total stockholders’ equity** | **股东权益合计** | **362,438** | **344,758** |
| **Total liabilities and stockholders’ equity** | **负债及股东权益合计** | **4,424,900** | **4,002,814** |
**附注(a)：已合并VIE的资产负债。** VIE在这里是依合并规则纳入集团的可变利益实体。原表说明，这些实体的资产用于清偿各自负债；受益权持有人通常不对JPMorganChase的一般信用享有追索。下面披露的是已合并第三方资产和负债，排除了合并时抵销的内部余额，进一步说明见Note 14。它们已经在上表里，不能再加到总资产或总负债。[JPM-BS]（附注(a)）
| 英文原行 | 中文名称 | 2025-12-31 | 2024-12-31 |
|---|---|---:|---:|
| **Assets** | **资产** | | |
| Trading assets | 交易资产 | 4,835 | 3,885 |
| Loans | 贷款 | 37,777 | 36,510 |
| All other assets | 其他资产 | 683 | 681 |
| **Total assets** | **资产合计** | **43,295** | **41,076** |
| **Liabilities** | **负债** | | |
| Beneficial interests issued by consolidated VIEs | 合并VIE发行的受益权益 | 27,951 | 27,323 |
| All other liabilities | 其他负债 | 691 | 454 |
| **Total liabilities** | **负债合计** | **28,642** | **27,777** |
主表等式为：2025年 `4,424,900 = 4,062,462 + 362,438`；2024年 `4,002,814 = 3,658,056 + 344,758`。其中投资证券777,332已经包含AFS和HTM两项，贷款净额1,467,664已经包含准备减项。核对总资产时各用一次净小计。
### 3.2 先看资金来自哪里，再看它怎样使用
银行的负债不是一张等待读完资产后再顺带检查的清单。资金来源本身就是经营的重要部分。先在表中对照两行：资产方 `Deposits with banks` 为321,596，负债方 `Deposits` 为2,559,320。前者是集团存放在其他银行的款项，后者是对客户的存款义务。中文都叫“存款”还不够，必须带上权利或义务的方向。[JPM-BS]
Note 17让我们进一步看到，2025年美国机构无息存款583,342，非美国机构无息存款37,057，合计620,399，占客户存款约24.24%；2024年对应合计619,306，占比约25.74%。分子略增而占比下降并不矛盾：总存款的分母也在变化。[JPM-DEPOSITS]
这个分解能帮助我们提出资金成本问题，但“无息”不等于提供服务没有成本，也不直接证明存款一定稳定。需要研究未来资金成本和提款需求时，必须继续看客户、期限、资金行为和其他披露，不能在这一比例后接一个自动的安全评分。
另一边，贷款与存款之比可算成 `1,493,429/2,559,320≈58.35%`，但剩下的41.65%不能直接叫“闲置现金”：全表还包括证券、交易资产、逆回购、其他资金来源和相应负债。这个比值是两项余额关系，不是一份把每一美元存款逐笔分配给资产的资金追踪表。[JPM-BS]（本文计算）
### 3.3 贷款不是一个只有总额的盒子
贷款先是一项收款权，但怎么放在账上，还取决于它被怎样持有。Note 12把贷款分为留存、持有待售及按公允价值计量三类。这里“留存”指持有用于投资的贷款，不是留存收益。[JPM-LOAN]
就本报告的政策而言，留存贷款按摊余成本记录，并另扣预期信用损失准备；摊余成本会随还本、费用或折溢价摊销等变化，不是每天重新报一个市场价格。持有待售贷款按成本与公允价值孰低计量；选择公允价值选项的贷款则按公允价值计量。后两类的相关估值变化进入非利息收入，不套用留存贷款那一套贷款损失准备处理。所以，下面的分类不仅是把总数分成三个名字，它决定了损失通过什么位置反映。[JPM-LOAN]
**以下只摘Note 12贷款构成表的合计列，单位：百万美元。** 这不是附注全文，也没有把附注各业务组合再重复加到主表。
| 英文原类 | 中文 | 2025-12-31 | 2024-12-31 |
|---|---|---:|---:|
| Retained | 留存贷款 | 1,408,905 | 1,299,590 |
| Held-for-sale | 持有待售贷款 | 13,840 | 7,048 |
| At fair value | 按公允价值计量贷款 | 70,684 | 41,350 |
| Total | 未扣贷款损失准备的贷款合计 | 1,493,429 | 1,347,988 |
来源：[JPM-LOAN-TABLE]，印刷p.239。原表脚注说明该组合表不含单列的应计利息应收；不是把所有贷款有关资产都装进了这一列。
我们先回接主表：`1,408,905+13,840+70,684=1,493,429`，再扣准备25,765，得到1,467,664。**贷款损失准备是账面资产的减项，不是一笔锁在另一账户中的现金。** 本期信用损失费用、核销和回收如何使准备余额变化，需要另外的滚动表，不能用两期准备之差直接替代全部期间费用。[JPM-BS]、[JPM-LOAN]
这里还藏着一个分母问题。将准备正额除以对应的留存贷款，2025年为 `25,765/1,408,905≈1.8287%`，2024年为 `24,345/1,299,590≈1.8733%`。若改除全部贷款，2025年会得到约1.7252%。后一计算并非算术错误，却不能冒充前一口径；它把不同计量类别都放入了分母。[JPM-LOAN]、[JPM-LOAN-TABLE]
比值下降本身也不是信用质量改善的证明。它可能需要通过组合构成和估计变化来解释。我们在本篇完成的是计量范围匹配，不是贷款损失预测。
证券部分可以接着用同一读法。主表中的AFS（可供出售）507,198与HTM（持有至到期）270,134合计777,332。Note 10说明，AFS按公允价值列账；作适用的对冲和信用损失调整后，未实现损益反映在累计其他综合收益中。HTM要求有持有至到期的意图和能力，按摊余成本扣除信用损失准备列账。因此，主表的777,332是两种不同计量基础下的账面额相加，并不是把两类证券都重估到同一个“市场价值”口径。2025年还发生44.1 billion，即44,100 million，从AFS到HTM的非现金转移。这提醒我们：类别余额的变化可能同时含采购、到期和重分类，不能把HTM的变化单独当作证券购买现金。[JPM-SEC]
### 3.4 普通股股东在哪一层？
全表的股东权益362,438中含优先股20,045。因此，按这份表计算的普通股权益为 `362,438−20,045=342,393`。2024年同口径为324,708。这里是在澄清剩余权益的归属，不是在估算股票价格，也不是直接计算监管普通股一级资本。[JPM-BS]
库存股也要读对方向。2025年的 `(164,591)` 是权益减项，不是银行新增持有的一项普通经营资产。表中还给出已发行普通股4,104,933,895股和库存股1,408,661,319股，两者相减得到流通普通股2,696,272,576股。由此算普通股每股账面值时，必须先把百万美元换成美元：
`342393 * 1000000 / 2696272576 ≈ 126.99 美元/股`。
这个结果能核对金额与股数的接口，不能替代市场定价。尤其不要把“普通股”行的4,105百万美元误当作全部普通股权益；它只是权益构成中的一行。[JPM-BS]（本文计算）
回到全貌：集团资产增加422,086，对应负债增加404,406、权益增加17,680。账面扩张同时涉及资金来源、贷款与证券及其他业务项目。只看“资产很多”或“现金下降”，都还没有完成银行经营分析。
### 3.5 银行迁移练习
**题目。** 用2024列自行复算贷款净额与普通股权益。另一位读者把VIE脚注资产41,076加到集团资产4,002,814上，又把准备24,345当成额外现金。请逐项说明错在哪里。最后说出为何不能用Costco的“商品存货减应付”直接衡量这家银行。
**解析。** 贷款净额为 `1,347,988−24,345=1,323,643`；普通股权益为 `344,758−20,050=324,708`。VIE脚注明确是合并表中已有项目的说明，再加41,076重复计算；贷款准备是减项，不是额外资金来源。[JPM-BS]
零售那一对余额对应商品采购与供应商结算。银行本例的主要关系是金融权利、资金义务及其计量，且有许多业务类型；硬找两行替代“库存”和“应付”，会丢掉存款、证券和风险计量这些核心关系。正确的迁移是保留“先业务、后口径、再计算”的方法，而不是搬同一个比率。
## 4 共同事件实验：一张表怎样随交易移动
这组数是**独立教学设定，不是 Costco 或 JPMorgan 的交易记录**。一家小企业期初只有现金100和权益100，没有负债；期初出资已在观察窗口之前完成。依次发生赊购成本100的商品、赊销全部商品150并结转成本100、向供应商付款100、向客户收款150。忽略税、退款、信用损失、运费、其他费用和分配；销售时满足确认条件。
| 步骤完成后 | 现金 | 应收 | 存货 | 总资产 | 应付／总负债 | 权益 | 累计本期利润 | 累计经营现金净额 |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| S0 期初 | 100 | 0 | 0 | 100 | 0 | 100 | 0 | 0 |
| S1 赊购100 | 100 | 0 | 100 | 200 | 100 | 100 | 0 | 0 |
| S2 赊销150并结转100 | 100 | 150 | 0 | 250 | 100 | 150 | 50 | 0 |
| S3 付款100 | 0 | 150 | 0 | 150 | 0 | 150 | 50 | −100 |
| S4 收款150 | 150 | 0 | 0 | 150 | 0 | 150 | 50 | 50 |
每一条事件箭头必须带完整变化，而不是全部指向权益：
| 箭头 | 现金变化 | 应收变化 | 存货变化 | 负债变化 | 权益变化 | 经济含义 |
|---|---:|---:|---:|---:|---:|---|
| S0→S1 赊购 | 0 | 0 | +100 | +100 | 0 | 商品与付款义务同时留下 |
| S1→S2 销售并结转成本 | 0 | +150 | −100 | 0 | +50 | 收款权替代商品，净收益增加权益 |
| S2→S3 付款 | −100 | 0 | 0 | −100 | 0 | 清偿旧义务，不重复确认商品成本 |
| S3→S4 收款 | +150 | −150 | 0 | 0 | 0 | 实现旧收款权，不重复确认销售收入 |
为什么S2的总资产250比S4的150还大，最终利润却没有减少？因为S2还同时保留着100的应付，随后付款消除了现金和负债，净资产不变。总资产变大并不是利润的同义词；现金变化也不是权益变化的同义词。
**迁移题。** 将收款放在付款之前，逐步写出变化。若期初现金改为0，原顺序和新顺序有什么不同？
**解析。** 期初现金100时，销售后先收款，余额成为现金250、应收0、存货0、资产250、负债100、权益150；再付款回到现金150、负债0、权益150，终点相同。若期初现金为0、权益亦为0，先付款会短缺100，不能在禁止透支的模型里执行；先收款则可先得到150，再支付100，终点现金和权益均为50。利润没有因顺序改变，资金可行性却改变了。系统应显示资金缺口，不应偷偷生成一笔未说明的借款。
## 5 扩展层：表内净额与现金口径
以下不计入首次选择一条行业分支的核心任务。
### 5.1 衍生品的三个金额，不是同一层次
JPM Note 5 的2025年应收表可以沿三个层次读：衍生品应收总额606,382，其中只有满足报告所述净额列报条件的部分进入表内抵销；扣除实际表内抵销548,605后，得到表内净应收57,777。再考虑表内不能抵销的担保品28,891，附注给出净额28,886。抵销政策涉及相应协议与法律意见等条件，并非见到两笔相反金额就可以相减。[JPM-NETTING]
| 层次 | 计算，百万美元 | 能怎样称呼 |
|---|---|---|
| 未作所列抵销的应收总额 | 606,382 | 衍生品应收总额，不是名义本金 |
| 表内抵销之后 | `606,382−548,605=57,777` | 表内净应收 |
| 再考虑所列不能表内抵销的担保品 | `57,777−28,891=28,886` | 本附注相应净额，不改写主表列报 |
**解析。** 把28,886填回主表替代57,777错在跨越了列报层次。附注帮助理解信用风险相关关系，但并不授权分析者改变法定主表。这个净额也不是所有市场、流动性和交易对手风险的统一计量。[JPM-NETTING]
### 5.2 银行现金流的终点到底接到哪里
JPM现金流表2025年的期末金额343,338，接的是 `Cash and due from banks 21,742 + Deposits with banks 321,596`，而不只是第一行。[JPM-CF]、[JPM-BS]
完整现金桥为：
`469,317 − 147,782 − 265,565 + 269,533 + 17,835 = 343,338`。
依次为期初、经营、投资、筹资和汇率影响。经营现金流负值里包含交易资产、借入证券等业务项目的变动；MD&A也说明，支持贷款与资本市场活动的经营性资产负债会随客户活动、风险管理和市场状况显著变化。读者应先读组成，再解释经营现金流的意义；不能凭一个负值直接得出与普通商品企业完全相同的结论。[JPM-CF]
## 6 把两条分支合在同一阅读方法里
我们保留的共同方法很简单：先确认整表对象，再找业务关系，沿主表到附注，做能回接的计算，最后把发现放回全表。改变行业时，变的是分析中心，而不是证据标准。
零售分支最重要的收获不是记住−1,667，而是知道这个数来自哪两项、它没有包含什么，以及为什么还要与963对照。银行分支最重要的收获不是记住某个覆盖率，而是理解它的分母为什么必须与计量范围匹配。能把这两点带到另一份真实材料中，就开始具备独立读表的能力了。
## 来源与实际定位
| 原件链接／代号 | 版本与具体定位 |
|---|---|
| [FASB] | BF-S-FASB-ELEMENTS；FASB，2021-12；Chapter 4 E16–E70，尤其E16、E37、E61–E66 |
| [OPENSTAX-22] | BF-S-OPENSTAX-22；OpenStax，Principles of Accounting Vol.1，2019，§2.2 |
| [COST-BS] | BI-S05；Costco FY2025 SEC 10-K，印刷p.39完整合并资产负债表；两期百万美元，股数/面值除外 |
| [COST-PDF] | 同一公司股东年报PDF；资产负债表印刷p.37／物理p.43；排版页码与SEC HTML不同 |
| [COST-POLICY] | BI-S05；Note 1，印刷p.42，Basis of Presentation、Fiscal Year、Reclassification |
| [COST-BUS] | BI-S05；Item 1 General，印刷pp.3–4，周转与供应商付款关系 |
| [COST-CF] | BI-S05；完整合并现金流量表印刷p.41；截至2025-08-31的52周，百万美元；股东年报PDF对应印刷p.39／物理p.45 |
| [COST-RECEIVABLES] | BI-S05；Note 1 Receivables, Net，印刷p.44；应收来源而非顾客赊销假定 |
| [COST-REV] | BI-S05；Note 1 Revenue Recognition，印刷pp.47–48；会员费与会员奖励分别处理 |
| [COST-LEASE] | BI-S05；Note 5 Leases，印刷pp.53–54；资产负债分类表及脚注(1)–(3)在p.53 |
| [JPM-BS] | BI-S07；JPMorgan 2025 Annual Report，印刷p.167／物理p.199；完整表及VIE附注(a) |
| [JPM-DEPOSITS] | BI-S07；Note 17 Deposits，印刷p.277／物理p.309；含计息/无息、地域和定期存款说明 |
| [JPM-LOAN] | BI-S07；Note 12 Loan accounting framework，印刷pp.236–238 |
| [JPM-LOAN-TABLE] | BI-S07；Note 12 Loan portfolio，印刷p.239／物理p.271；本稿摘构成表合计列，脚注(a)(b)保留支持范围 |
| [JPM-SEC] | BI-S07；Note 10 Investment securities，印刷pp.228–229；44.1bn非现金转移及计量政策在p.228 |
| [JPM-NETTING] | BI-S07；Note 5 Derivatives netting，印刷pp.207–209；2025应收表在p.208，结合相邻说明与脚注 |
| [JPM-CF] | BI-S07；合并现金流量表印刷p.169／物理p.201；解释参见MD&A p.58 |
[FASB]: https://storage.fasb.org/Concepts_Statement_8-Chapter_4-Elements.pdf "BF-S-FASB-ELEMENTS；FASB，2021-12；Chapter 4 E16–E70，尤其E16、E37、E61–E66"
[OPENSTAX-22]: https://openstax.org/books/principles-financial-accounting/pages/2-2-define-explain-and-provide-examples-of-current-and-noncurrent-assets-current-and-noncurrent-liabilities-equity-revenues-and-expenses "BF-S-OPENSTAX-22；OpenStax，Principles of Accounting Vol.1，2019，§2.2"
[COST-BS]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Costco FY2025 SEC 10-K，印刷p.39完整合并资产负债表；两期百万美元，股数/面值除外"
[COST-PDF]: https://s201.q4cdn.com/287523651/files/doc_financials/2025/ar/COST-Annual-Report-2025.pdf#page=43 "同一公司股东年报PDF；资产负债表印刷p.37／物理p.43；排版页码与SEC HTML不同"
[COST-POLICY]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Note 1，印刷p.42，Basis of Presentation、Fiscal Year、Reclassification"
[COST-BUS]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Item 1 General，印刷pp.3–4，周转与供应商付款关系"
[COST-CF]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；完整合并现金流量表印刷p.41；截至2025-08-31的52周，百万美元；股东年报PDF对应印刷p.39／物理p.45"
[COST-RECEIVABLES]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Note 1 Receivables, Net，印刷p.44；应收来源而非顾客赊销假定"
[COST-REV]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Note 1 Revenue Recognition，印刷pp.47–48；会员费与会员奖励分别处理"
[COST-LEASE]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Note 5 Leases，印刷pp.53–54；资产负债分类表及脚注(1)–(3)在p.53"
[JPM-BS]: https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf#page=199 "BI-S07；JPMorgan 2025 Annual Report，印刷p.167／物理p.199；完整表及VIE附注(a)"
[JPM-DEPOSITS]: https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf#page=309 "BI-S07；Note 17 Deposits，印刷p.277／物理p.309；含计息/无息、地域和定期存款说明"
[JPM-LOAN]: https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf#page=268 "BI-S07；Note 12 Loan accounting framework，印刷pp.236–238"
[JPM-LOAN-TABLE]: https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf#page=271 "BI-S07；Note 12 Loan portfolio，印刷p.239／物理p.271；本稿摘构成表合计列，脚注(a)(b)保留支持范围"
[JPM-SEC]: https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf#page=260 "BI-S07；Note 10 Investment securities，印刷pp.228–229；44.1bn非现金转移及计量政策在p.228"
[JPM-NETTING]: https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf#page=239 "BI-S07；Note 5 Derivatives netting，印刷pp.207–209；2025应收表在p.208，结合相邻说明与脚注"
[JPM-CF]: https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf#page=201 "BI-S07；合并现金流量表印刷p.169／物理p.201；解释参见MD&A p.58"
## Additional teaching material
## 配套规格：原表阅读器、交互与静态等价
### BF05-TABLES：完整原表不因高亮而消失
输入分别绑定`COST-BS-20250831`与`JPM-BS-20251231`，年份顺序固定为较新／较旧，原始金额以百万美元保存。主表行ID就是本稿各行锚点去掉`cost-`或`jpm-`后的部分。完整表、脚注表和附注明细是不同数据层，只有明确的直接子项参加一个小计。
默认显示共同结构和零售完整表；读者可切换银行。折叠只影响可见状态，不删除行或改变加总。全部展开、打印、无脚本模式均能读到两个完整表和说明。提供“定位原文”和“展开附注”按钮；原始值与派生比率区分。空白与原表破折号分开；任何股数、面值和百万美元不得共用同一个缩放开关。
**加总合同。** Costco总资产只加流动资产小计、物业设备、经营租赁使用权和其他长期资产；JPM总资产只加各直接项目，证券用净小计、贷款用净小计，VIE脚注不参与主表。所有减项在数据层保留负号。正文两期合计及VIE内部合计可作为静态验收值。
### BF05-RETAIL：余额变化与现金调整并排
输入：`inventory_2024=18647, inventory_2025=18116, payable_2024=19421, payable_2025=19783, cf_inventory=559, cf_payable=404`。输出：`N_2024=-774, N_2025=-1667, delta_N=-893, reverse_delta=893, CF_adjustment=963, unexplained_difference=70`。默认历史数据不可编辑；“教学变式”另开命名空间，不覆盖历史数。点击差额只展示待查口径，不自动为其归因。静态等价为§2.2全部公式和表。
### BF05-BANK：分子与分母必须一起说明
输入来自§3.3的两期完整构成、准备负数，以及客户存款。默认展示`(-allowance)/retained_loans*100`，2025输出1.8287%；可切换“全部贷款作分母”的对照，输出1.7252%，同时出现“不是原留存贷款口径”的说明。币种不变，百分数仅乘100一次。不得把下降自动着色为风险改善。普通股每股账面值另以美元／股输出126.99和116.07，不与监管指标混名。
### EXP-BF05-EVENTS：可复算状态转移
状态字段为`cash, receivable, inventory, payable, equity, profit, ocf`，其中`profit`和`ocf`分别指本窗口累计利润和累计经营现金净额。期初`cash=equity=100`，其余0；采购成本`cost=100`，售价`sales=150`。允许顺序为`purchase → sale → pay → collect`或`purchase → sale → collect → pay`。付款须满足`cash>=cost`；其他事件不得重复执行。改变期初现金时权益同步改变，不引入未声明负债。
```javascript
// 纯计算函数；不访问账户、不获取外部数据。与正文同一组教学设定。
function eventLedger(initialCash = 100, collectFirst = false) {
if (!Number.isFinite(initialCash) || initialCash < 0) {
throw new RangeError('期初现金必须为非负有限数');
}
if (typeof collectFirst !== 'boolean') {
throw new TypeError('collectFirst必须为布尔值');
}
const s = {cash: initialCash, receivable: 0, inventory: 0,
payable: 0, equity: initialCash, profit: 0, ocf: 0};
const rows = [];
const take = event => {
const assets = s.cash + s.receivable + s.inventory;
if (Math.abs(assets - s.payable - s.equity) > 1e-9) {
throw new Error('资产负债关系不平');
}
rows.push({event, ...s, assets, balanceResidual: 0});
};
take('initial');
s.inventory += 100; s.payable += 100; take('purchase');
s.receivable += 150; s.inventory -= 100;
s.equity += 50; s.profit += 50; take('sale');
const order = collectFirst ? ['collect', 'pay'] : ['pay', 'collect'];
for (const event of order) {
if (event === 'pay') {
if (s.cash < 100) return {rows, completed: false, fundingGap: 100 - s.cash};
s.cash -= 100; s.payable -= 100; s.ocf -= 100;
} else {
s.cash += 150; s.receivable -= 150; s.ocf += 150;
}
take(event);
}
return {rows, completed: true, fundingGap: 0};
}
```
静态默认五行及每一步变化见§4。初始现金0且先付款的预期结果为`completed=false, fundingGap=100`；改为先收款则完成，最终现金50、权益50、利润50、经营现金净额50。UI显示余额与变化两层，箭头文字使用§4的完整含义；不把所有事件画到权益。
页面使用可访问标签、键盘和文字状态，不依赖颜色。股票价格、自动安全评分和银行存活概率不在这个交互中。这里给出静态结果和实现规格；网页实现另行完成。
## Experiment inputs and static equivalents
```json
[
{
"id": "EXP-BF05-EVENTS",
"title": "赊购、赊销、付款与收款",
"anchor": "bf05-events",
"url": "/notebook/labs/bf-a/interactions.html#EXP-BF05-EVENTS",
"description": "原稿独立教学设定；不对应Costco或JPM交易记录。",
"inputs": {
"initial_cash": 100,
"initial_equity": 100,
"cost": 100,
"sales": 150,
"default_collect_first": false
},
"default_outputs": [
{
"event_label": "S0 期初",
"cash": 100,
"receivable": 0,
"inventory": 0,
"assets": 100,
"payable": 0,
"equity": 100,
"profit": 0,
"ocf": 0
},
{
"event_label": "S1 赊购100",
"cash": 100,
"receivable": 0,
"inventory": 100,
"assets": 200,
"payable": 100,
"equity": 100,
"profit": 0,
"ocf": 0
},
{
"event_label": "S2 赊销150并结转100",
"cash": 100,
"receivable": 150,
"inventory": 0,
"assets": 250,
"payable": 100,
"equity": 150,
"profit": 50,
"ocf": 0
},
{
"event_label": "S3 付款100",
"cash": 0,
"receivable": 150,
"inventory": 0,
"assets": 150,
"payable": 0,
"equity": 150,
"profit": 50,
"ocf": -100
},
{
"event_label": "S4 收款150",
"cash": 150,
"receivable": 0,
"inventory": 0,
"assets": 150,
"payable": 0,
"equity": 150,
"profit": 50,
"ocf": 50
}
],
"transitions": {
"heading": "4 共同事件实验：一张表怎样随交易移动",
"headers": [
"箭头",
"现金变化",
"应收变化",
"存货变化",
"负债变化",
"权益变化",
"经济含义"
],
"rows": [
[
"S0→S1 赊购",
"0",
"0",
"+100",
"+100",
"0",
"商品与付款义务同时留下"
],
[
"S1→S2 销售并结转成本",
"0",
"+150",
"−100",
"0",
"+50",
"收款权替代商品，净收益增加权益"
],
[
"S2→S3 付款",
"−100",
"0",
"0",
"−100",
"0",
"清偿旧义务，不重复确认商品成本"
],
[
"S3→S4 收款",
"+150",
"−150",
"0",
"0",
"0",
"实现旧收款权，不重复确认销售收入"
]
],
"markdown": "| 箭头 | 现金变化 | 应收变化 | 存货变化 | 负债变化 | 权益变化 | 经济含义 |\n|---|---:|---:|---:|---:|---:|---|\n| S0→S1 赊购 | 0 | 0 | +100 | +100 | 0 | 商品与付款义务同时留下 |\n| S1→S2 销售并结转成本 | 0 | +150 | −100 | 0 | +50 | 收款权替代商品，净收益增加权益 |\n| S2→S3 付款 | −100 | 0 | 0 | −100 | 0 | 清偿旧义务，不重复确认商品成本 |\n| S3→S4 收款 | +150 | −150 | 0 | 0 | 0 | 实现旧收款权，不重复确认销售收入 |"
},
"source_inputs": {
"initial_cash": 100,
"initial_equity": 100,
"purchase_cost": 100,
"sale_price": 150,
"default_order": [
"purchase",
"sale",
"pay",
"collect"
],
"alternative_order": [
"purchase",
"sale",
"collect",
"pay"
]
},
"computation_source": {
"language": "javascript",
"code": "// 纯计算函数；不访问账户、不获取外部数据。与正文同一组教学设定。\nfunction eventLedger(initialCash = 100, collectFirst = false) {\n if (!Number.isFinite(initialCash) || initialCash < 0) {\n throw new RangeError('期初现金必须为非负有限数');\n }\n if (typeof collectFirst !== 'boolean') {\n throw new TypeError('collectFirst必须为布尔值');\n }\n const s = {cash: initialCash, receivable: 0, inventory: 0,\n payable: 0, equity: initialCash, profit: 0, ocf: 0};\n const rows = [];\n const take = event => {\n const assets = s.cash + s.receivable + s.inventory;\n if (Math.abs(assets - s.payable - s.equity) > 1e-9) {\n throw new Error('资产负债关系不平');\n }\n rows.push({event, ...s, assets, balanceResidual: 0});\n };\n take('initial');\n s.inventory += 100; s.payable += 100; take('purchase');\n s.receivable += 150; s.inventory -= 100;\n s.equity += 50; s.profit += 50; take('sale');\n const order = collectFirst ? ['collect', 'pay'] : ['pay', 'collect'];\n for (const event of order) {\n if (event === 'pay') {\n if (s.cash < 100) return {rows, completed: false, fundingGap: 100 - s.cash};\n s.cash -= 100; s.payable -= 100; s.ocf -= 100;\n } else {\n s.cash += 150; s.receivable -= 150; s.ocf += 150;\n }\n take(event);\n }\n return {rows, completed: true, fundingGap: 0};\n}"
},
"outputs_origin": "原稿第4节完整静态表；导入未执行该函数"
}
]
```
## Sources
- [Costco Wholesale Corporation · 2025 Annual Report（股东年报 PDF）](https://s201.q4cdn.com/287523651/files/doc_financials/2025/ar/COST-Annual-Report-2025.pdf): Costco 2025 股东年报中的完整合并报表及附注。与 SEC HTML 版使用同一组财务披露，但排版页码不同：资产负债表为印刷第37页、PDF第43页。
- [Costco Wholesale Corporation · FY2025 Form 10-K（SEC HTML）](https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm): Costco 的 2025 财年末合并资产为77,099百万美元，负债47,935，权益29,164。业务说明把商品快速周转与供应商付款安排联系起来；会员费的确认则需要结合收入政策和递延余额。
本组带读将存货与应付的两期余额变化接到现金流量表。两种计算并不完全相同，差额留待附注和其他口径解释。
EI-B 本批采用：会员制度、尾随续费率定义、会员费收入及合并营业利润桥。美元百万转换为十亿美元；全球公司边界不等于美国单一零售市场。
BF-F/G 本批采用：零售利润/现金/普通股及债务时间的历史原件。SEC具名表定位优先；不混用IR PDF页码。
- [FASB Concepts Statement No. 8 · Chapter 4: Elements of Financial Statements](https://storage.fasb.org/Concepts_Statement_8-Chapter_4-Elements.pdf): 资产对应企业取得经济利益的现时权利，负债对应企业转移经济利益的现时义务；权益是扣除负债后的剩余利益。
这组定义帮助识别对象。某项权利是否确认、按何种金额计量，还要结合适用的会计规则和披露。
- [JPMorgan Chase & Co. · 2025 Annual Report](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf): JPMorgan 的 2025 年末集团合并表没有照普通工业企业划分流动／非流动。证券和贷款各有计量类别；贷款损失准备是贷款账面余额的减项，表下注明的合并VIE金额已包含在集团总额内。
从总权益到普通股权益，还要扣除优先股；每股账面值的股数使用已发行股数减库存股。原表、附注和普通股权利因此要连在一起读。
BF-F/G 本批采用：集团季度平均LCR、期末资产和有条件融资能力分别记录；银行法人另列；完整主表支持综合带读。
- [OpenStax · Principles of Accounting, Volume 1 · §2.2](https://openstax.org/books/principles-financial-accounting/pages/2-2-define-explain-and-provide-examples-of-current-and-noncurrent-assets-current-and-noncurrent-liabilities-equity-revenues-and-expenses): 流动与非流动的区分涉及正常经营周期和一年等时间条件。资产、负债与权益描述期末余额，收入和费用描述期间活动；把这些类别放到一起，可以解释交易怎样通过报表恒等式记录。
## Content relations
```json
[
{
"from": "zh-balance-sheet",
"relation": "part_of",
"to": "business-reports",
"reason": "主要 topic 归属"
},
{
"from": "zh-balance-sheet",
"relation": "uses_method",
"to": "zh-bf01",
"reason": "用业务关系决定读表重点；所需内容已在分支就地提供"
},
{
"from": "zh-balance-sheet",
"relation": "uses_method",
"to": "zh-bf02",
"reason": "主表、附注、现金流和权益表导航"
},
{
"from": "zh-balance-sheet",
"relation": "uses_method",
"to": "zh-bf03",
"reason": "时点、金额单位、范围与比较期口径"
},
{
"from": "zh-balance-sheet",
"relation": "supported_by",
"to": "BF-S-FASB-ELEMENTS",
"reason": "资产、负债、权益定义",
"scope": "E16–E70；定义与具体计量分开"
},
{
"from": "zh-balance-sheet",
"relation": "illustrated_by",
"to": "EXP-BF05-EVENTS",
"reason": "赊购、销售、付款、收款的余额和资金顺序"
}
]
```
## Related entries
## Optional reading path
拆一份企业财报: step 2/14
在零售或银行分支中，从全表和附注重建两至三个经营关系。
看过时点上的资源与义务，再追踪期间利润和实际收付款。
Next: [利润表：收入、成本与利润的层次](https://ou-liu-red-sugar.github.io/zh/notebook/income-statement-layers/)