# 财报的期间、范围、币种与可比口径
为真实财务数字保留口径，在不丢失原值的前提下做期间和单位比较，并指出仍不可比较的部分。
Entry: zh-bf03 | Node: BF-03 | Language: zh | Editorial revision: 2026-09-21
## Teaching instructions
你正在讲授BF-03“财报的期间、范围、币种与可比口径”（2026-09-21.BF-A.rev-1）。这是可查参考。以读者当前表格为入口，默认修正Costco 52/53周比较；不把四则运算扩成一堂长课。
先实际读取下列所用单元。运行时读取日志初始为空；记录文档版本、范围及支持当前比较的内容，已有书目或历史读取记录不等于本次运行已读：
1. OpenStax Principles of Accounting Vol.1，2019，§2.1中报表的时点/期间及联系完整单元：
https://openstax.org/books/principles-financial-accounting/pages/2-1-describe-the-income-statement-statement-of-owners-equity-balance-sheet-and-statement-of-cash-flows-and-how-they-interrelate
2. Costco FY2025 SEC 10-K：
https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm
读取Item 1 p.3财年与季度构成段；完整利润表p.37、资产负债表p.39；Note 1 p.42的Basis of Presentation、Fiscal Year、Reclassification、Cash and Cash Equivalents完整小节。若需要同店指标，须另读MD&A中该指标完整定义，不能把每周增长直接改名。
3. 使用银行单位/每股例子时，读取JPMorgan 2025 Annual Report：
https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf
完整资产负债表p.167/物理p.199及股份括注；Note 10 pp.228–229，尤其类别转移、单位与计量说明；采用现金比较时再读p.169/物理p.201。PDF表格查看原页。
只取得目录或摘要不满足承重数据读取。失败时找同机构原件或已核等价版；仍缺就说明缺少的具体单元，不填一组相似数字。
先让读者给每个数字贴上“对象/范围、项目、币种/单位、时点或期间、版本/出处”。随后保留原始249625、237710、52、53，计算原始增长与每周平均增长。必须解释7.03%为何不是同店增长，也不能用于把期末存货除以周数。
单位练习使用44.1billion=44100million；每股练习使用342393million、2696272576shares，转换得到126.99USD/share。区分期末股数、加权平均股数和市场价格。不得把类别转移当成购入现金流。
最后换成明确虚构的累计100、230，让读者求第二季度单季130并说明适用条件。完整反馈既核公式，也核比较名称和仍未解决的范围差异；不要因算术正确就宣布比较有效。当前疑点解决后返回原词条，不引入股票DCF、报价或个人账户。
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
```json
{
"entry_id": "zh-bf03",
"node_id": "BF-03",
"content_version": "2026-09-21.BF-A.rev-1",
"export_mode": "public",
"audience": "具有足够数学背景的高年级本科至研究生",
"body_source": "body_markdown",
"learning_task": "为真实财务数字保留口径，在不丢失原值的前提下做期间和单位比较，并指出仍不可比较的部分。",
"prompt": "你正在讲授BF-03“财报的期间、范围、币种与可比口径”（2026-09-21.BF-A.rev-1）。这是可查参考。以读者当前表格为入口，默认修正Costco 52/53周比较；不把四则运算扩成一堂长课。\n\n先实际读取下列所用单元。运行时读取日志初始为空；记录文档版本、范围及支持当前比较的内容，已有书目或历史读取记录不等于本次运行已读：\n1. OpenStax Principles of Accounting Vol.1，2019，§2.1中报表的时点/期间及联系完整单元：\nhttps://openstax.org/books/principles-financial-accounting/pages/2-1-describe-the-income-statement-statement-of-owners-equity-balance-sheet-and-statement-of-cash-flows-and-how-they-interrelate\n2. Costco FY2025 SEC 10-K：\nhttps://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm\n读取Item 1 p.3财年与季度构成段；完整利润表p.37、资产负债表p.39；Note 1 p.42的Basis of Presentation、Fiscal Year、Reclassification、Cash and Cash Equivalents完整小节。若需要同店指标，须另读MD&A中该指标完整定义，不能把每周增长直接改名。\n3. 使用银行单位/每股例子时，读取JPMorgan 2025 Annual Report：\nhttps://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf\n完整资产负债表p.167/物理p.199及股份括注；Note 10 pp.228–229，尤其类别转移、单位与计量说明；采用现金比较时再读p.169/物理p.201。PDF表格查看原页。\n\n只取得目录或摘要不满足承重数据读取。失败时找同机构原件或已核等价版；仍缺就说明缺少的具体单元，不填一组相似数字。\n\n先让读者给每个数字贴上“对象/范围、项目、币种/单位、时点或期间、版本/出处”。随后保留原始249625、237710、52、53，计算原始增长与每周平均增长。必须解释7.03%为何不是同店增长，也不能用于把期末存货除以周数。\n\n单位练习使用44.1billion=44100million；每股练习使用342393million、2696272576shares，转换得到126.99USD/share。区分期末股数、加权平均股数和市场价格。不得把类别转移当成购入现金流。\n\n最后换成明确虚构的累计100、230，让读者求第二季度单季130并说明适用条件。完整反馈既核公式，也核比较名称和仍未解决的范围差异；不要因算术正确就宣布比较有效。当前疑点解决后返回原词条，不引入股票DCF、报价或个人账户。",
"selected_branch": "current_task",
"required_readings": [
{
"source_id": "BF-S-OPENSTAX-21",
"title": "OpenStax · Principles of Accounting, Volume 1 · §2.1",
"authors": [
"OpenStax"
],
"version": "2019；§2.1",
"access": {
"kind": "html_full_text",
"uri": "https://openstax.org/books/principles-financial-accounting/pages/2-1-describe-the-income-statement-statement-of-owners-equity-balance-sheet-and-statement-of-cash-flows-and-how-they-interrelate",
"verified_access_at": "2026-09-21"
},
"required_unit": {
"locator": "1. OpenStax Principles of Accounting Vol.1，2019，§2.1中报表的时点/期间及联系完整单元：",
"scope": "1. OpenStax Principles of Accounting Vol.1，2019，§2.1中报表的时点/期间及联系完整单元：\nhttps://openstax.org/books/principles-financial-accounting/pages/2-1-describe-the-income-statement-statement-of-owners-equity-balance-sheet-and-statement-of-cash-flows-and-how-they-interrelate",
"purpose": "为真实财务数字保留口径，在不丢失原值的前提下做期间和单位比较，并指出仍不可比较的部分。"
},
"supports": "1. OpenStax Principles of Accounting Vol.1，2019，§2.1中报表的时点/期间及联系完整单元：",
"fallback_source_ids": []
},
{
"source_id": "BF-S-COST-FY2025-SEC",
"title": "Costco Wholesale Corporation · FY2025 Form 10-K（SEC HTML）",
"authors": [
"Costco Wholesale Corporation"
],
"version": "FY2025；截至2025-08-31；比较列采用同一报告",
"access": {
"kind": "html_full_text",
"uri": "https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm",
"verified_access_at": "2026-09-21"
},
"required_unit": {
"locator": "2. Costco FY2025 SEC 10-K：\n读取Item 1 p.3财年与季度构成段；完整利润表p.37、资产负债表p.39；Note 1 p.42的Basis of Presentation、Fiscal Year、Reclassification、Cash and Cash Equivalents完整小节。若需要同店指标，须另读MD&A中该指标完整定义，不能把每周增长直接改名。",
"scope": "2. Costco FY2025 SEC 10-K：\nhttps://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm\n读取Item 1 p.3财年与季度构成段；完整利润表p.37、资产负债表p.39；Note 1 p.42的Basis of Presentation、Fiscal Year、Reclassification、Cash and Cash Equivalents完整小节。若需要同店指标，须另读MD&A中该指标完整定义，不能把每周增长直接改名。",
"purpose": "为真实财务数字保留口径，在不丢失原值的前提下做期间和单位比较，并指出仍不可比较的部分。"
},
"supports": "2. Costco FY2025 SEC 10-K：\n读取Item 1 p.3财年与季度构成段；完整利润表p.37、资产负债表p.39；Note 1 p.42的Basis of Presentation、Fiscal Year、Reclassification、Cash and Cash Equivalents完整小节。若需要同店指标，须另读MD&A中该指标完整定义，不能把每周增长直接改名。",
"fallback_source_ids": []
}
],
"optional_readings": [
{
"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": "3. 使用银行单位/每股例子时，读取JPMorgan 2025 Annual Report：\n完整资产负债表p.167/物理p.199及股份括注；Note 10 pp.228–229，尤其类别转移、单位与计量说明；采用现金比较时再读p.169/物理p.201。PDF表格查看原页。",
"scope": "3. 使用银行单位/每股例子时，读取JPMorgan 2025 Annual Report：\nhttps://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf\n完整资产负债表p.167/物理p.199及股份括注；Note 10 pp.228–229，尤其类别转移、单位与计量说明；采用现金比较时再读p.169/物理p.201。PDF表格查看原页。",
"purpose": "为真实财务数字保留口径，在不丢失原值的前提下做期间和单位比较，并指出仍不可比较的部分。"
},
"supports": "3. 使用银行单位/每股例子时，读取JPMorgan 2025 Annual Report：\n完整资产负债表p.167/物理p.199及股份括注；Note 10 pp.228–229，尤其类别转移、单位与计量说明；采用现金比较时再读p.169/物理p.201。PDF表格查看原页。",
"fallback_source_ids": [],
"required_when_selected": true,
"selected_scope": "3. 使用银行单位/每股例子时，读取JPMorgan 2025 Annual Report："
}
],
"reading_protocol": "1. **确认当前学习范围。** 使用所选分支及本篇正文；先修仅诊断本篇确实需要的内容。识别必读材料，选读材料只有被采用时才转成对应问题的必读。\n2. **实际获取。** 用浏览/文件读取工具打开指定 URL 或随包文件。核对返回的标题/版本/范围，发现只有摘要、登录页、目录或文件清单时如实记录，继续找明确可读的正文入口。\n3. **完整读取所需单元。** 分页或分块读取到所需单元结束，包含前文约定、必要表图和脚注。PDF 符号或图表解析不可靠时查看原页；TeX 读取相关宏定义与 include 文件。不能只看搜索命中的几行。\n4. **形成简短内容对应。** 每项记录实际位置、读到的关键设定和它支持哪一步教学。例如“§5.10 的训练集仅含当前预测点之前的观测；该限制需要落实到预处理拟合，不仅是分割最终数据表”。后半句若为本站推论须标为推论。\n5. **满足后才开始该范围的实质教学。** 所有当前必读单元读完之后，基于材料给一项高密度诊断任务或按读者要求直接讲解。引用跟着对应命题或计算，不在末尾堆书名。\n6. **读取失败时自动处理缺口。** 先尝试指定的可读等价版本或作者/机构正式全文，不新造批准步骤。等价性包括版本、条款期间、定义和假设；新的替代来源实际读完后记录采用范围。仍缺失则说明具体缺少哪一个必读单元及原因，不凭训练记忆补成已读讲解，不宣称已完成本篇。\n\n“读取校验”依赖实际取得的内容及其位置、与教学相关的设定复述；不靠让模型报一句“我已阅读”，不引入无意义哈希或重复下载。它不能从技术上保证理解，但能让来源与使用之间可检查。",
"supplied_inputs": {
"source_version": "2026-09-21.BF-A.rev-1",
"tables": [
{
"heading": "1 随数字保存的最小口径",
"headers": [
"字段",
"本例应保存什么",
"最容易发生的错位"
],
"rows": [
[
"对象／范围",
"Costco及其全资子公司的合并报表；或JPMorgan Chase & Co.集团合并表",
"把集团与银行子公司、报告分部混在一起"
],
[
"时间",
"`as_of=2025-08-31`，或截至该日52周",
"把期末余额当作全年发生额"
],
[
"单位",
"USD，金额以million计；股数另用shares",
"只改“百万／十亿”标签，不改数值"
],
[
"定义／计量",
"原行名称、净额所扣项目、相关政策",
"“贷款”与“扣准备后的贷款”互相替代"
],
[
"比较版本",
"使用2025年报中列示的2024比较数",
"把旧版与本期重分类后的比较列拼接"
],
[
"来源与可得时间",
"文档、原表行、页码及该版本何时可取得",
"把财年末当成年报发布日或研究读取日"
]
],
"markdown": "| 字段 | 本例应保存什么 | 最容易发生的错位 |\n|---|---|---|\n| 对象／范围 | Costco及其全资子公司的合并报表；或JPMorgan Chase & Co.集团合并表 | 把集团与银行子公司、报告分部混在一起 |\n| 时间 | `as_of=2025-08-31`，或截至该日52周 | 把期末余额当作全年发生额 |\n| 单位 | USD，金额以million计；股数另用shares | 只改“百万／十亿”标签，不改数值 |\n| 定义／计量 | 原行名称、净额所扣项目、相关政策 | “贷款”与“扣准备后的贷款”互相替代 |\n| 比较版本 | 使用2025年报中列示的2024比较数 | 把旧版与本期重分类后的比较列拼接 |\n| 来源与可得时间 | 文档、原表行、页码及该版本何时可取得 | 把财年末当成年报发布日或研究读取日 |"
},
{
"heading": "2 先比较同样长的一段时间，但别把它当作全部解释",
"headers": [
"财年",
"期间截至日",
"周数",
"Net sales／净销售额"
],
"rows": [
[
"FY2023",
"2023-09-03",
"53",
"237,710"
],
[
"FY2024",
"2024-09-01",
"52",
"249,625"
],
[
"FY2025",
"2025-08-31",
"52",
"269,912"
]
],
"markdown": "| 财年 | 期间截至日 | 周数 | Net sales／净销售额 |\n|---|---|---:|---:|\n| FY2023 | 2023-09-03 | 53 | 237,710 |\n| FY2024 | 2024-09-01 | 52 | 249,625 |\n| FY2025 | 2025-08-31 | 52 | 269,912 |"
}
],
"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": [],
"specification_markdown": "## 交互、计算和静态等价\n\n`BF03-PERIOD-UNIT` 的默认状态为Costco FY2024对FY2023，显示上面的两期原始销售、52/53周、5.0124%原始增长和约7.03%按周增长。切换“原始／每周平均”只新增一列派生值，不覆盖原始数据，也不把图题改成同店增长。静态表与§2算式提供完整默认结果。\n\n单位切换保留基础存储单位USD_millions；显示为billion时全部金额除以1000，回切时乘以1000。股数shares及每股USD_per_share不参与同一金额转换。以44,100million／44.1billion作为固定核对项。余额行不提供“除以周数”按钮；若通过接口调用该操作，返回“该操作仅用于所选期间流量”，不得静默计算。\n\n累计／单季演示仅使用上面的**教学数据**，默认100、230、导出单季130。输入必须是相同项目、币种、范围和兼容版本的累计值；财报自身未提供的数据不插值伪造。允许收入调整为负的实际情况，所以不把所有负结果一律判错；应检查输入与披露，而非以数值正负替代业务解释。\n\n每次调整显示 `原值—单位/期间—公式—结果—剩余不可比因素`。键盘、窄屏及打印保留全部五项，图不是唯一入口。这里给出静态等价和交互规格；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
两个数字都写着“2025”和“美元”，还不足以直接比较。一个可能是8月末的余额，另一个是截至12月的全年流量；一个可能是集团合并值，另一个只是子公司。先把口径写完整，不是计算前额外增加的手续，而是在确定我们究竟算什么。
## 1 随数字保存的最小口径
**一个用于比较的财务观测，至少要连同对象与合并范围、项目定义、币种与金额单位、时点或期间、计量及列报口径、原始出处一起保存。** 这是本笔记的数据约定，不是声称所有报告使用同一个数据格式。时点与期间的基本区别见 [BF-02](/zh/notebook/financial-report-map/)。[OPENSTAX-21]
| 字段 | 本例应保存什么 | 最容易发生的错位 |
|---|---|---|
| 对象／范围 | Costco及其全资子公司的合并报表；或JPMorgan Chase & Co.集团合并表 | 把集团与银行子公司、报告分部混在一起 |
| 时间 | `as_of=2025-08-31`，或截至该日52周 | 把期末余额当作全年发生额 |
| 单位 | USD，金额以million计；股数另用shares | 只改“百万／十亿”标签，不改数值 |
| 定义／计量 | 原行名称、净额所扣项目、相关政策 | “贷款”与“扣准备后的贷款”互相替代 |
| 比较版本 | 使用2025年报中列示的2024比较数 | 把旧版与本期重分类后的比较列拼接 |
| 来源与可得时间 | 文档、原表行、页码及该版本何时可取得 | 把财年末当成年报发布日或研究读取日 |
前两家公司的合并范围分别由Costco Note 1和JPM集团报告限定。Costco还明确说明将2024资产负债表作了重分类以配合本期列报。因此，本批两期表采用同一份2025报告中的比较列；该披露本身没有给出我们想象中的全部调整明细。[COST-POLICY]、[JPM-BS]
## 2 先比较同样长的一段时间，但别把它当作全部解释
Costco FY2025、FY2024各52周，FY2023为53周，年末是最接近8月31日的星期日。它的前三季度各12周，第四季度通常16周，53周财年则为17周；不能把年报机械平均成四个等长季度。[COST-CALENDAR]
下表保留原始数字，全部来自**同一份2025年报的合并利润表**，单位百万美元。它不是同店销售表。[COST-IS]
| 财年 | 期间截至日 | 周数 | Net sales／净销售额 |
|---|---|---:|---:|
| FY2023 | 2023-09-03 | 53 | 237,710 |
| FY2024 | 2024-09-01 | 52 | 249,625 |
| FY2025 | 2025-08-31 | 52 | 269,912 |
2024相对2023的原始增长为 `249625 / 237710 - 1 = 5.0124%`。若只想去掉“多了一周”的机械差异，可以另外计算每周平均净销售额：`249625 / 52 = 4800.4808`，`237710 / 53 = 4485.0943`，其增长为 `((249625 / 52) / (237710 / 53) - 1) = 7.032%`，约7.03%。原始5.01%与按周7.03%都保留，并分别命名。[COST-IS]（本文计算）
这还不是“经营真实增长”的最终答案：平均数没有控制季节性、开店、关闭、商品组合或汇率等影响，也没有把公司全部门店改成可比门店样本。调整只解决它明确处理的问题，不能因为做过一次调整，就替指标换上更强的名称。
反过来，2024-09-01的存货18,647与2025-08-31的存货18,116都是时点余额。**给余额除以52或53，不会得到有意义的同口径期末存货。** 要研究周转，应另选期间成本与适当平均存货，这是BF-16的任务，不是把任何数都除以周数。[COST-BS]
## 3 单位可以换，原值与含义不能丢
JPM证券附注写出的44.1 **billion**，换到主表的 **million** 单位是44,100，不是44.1。单位换算关系是 `x_million = 1000 * x_billion`。本例金额指证券由AFS转为HTM的类别转移，并不是同额的新购证券现金支出；数值换对以后，事项性质仍要从附注读。[JPM-SEC]
每股口径还多了一层分母。JPM 2025年末普通股权益为342,393百万美元，期末普通股流通股数为2,696,272,576股，所以每股账面值为 `342393 * 1000000 / 2696272576 = 126.9875` 美元/股，约126.99。这里乘一百万是在把百万美元换成美元；分母是期末股数，不是算全年每股收益所用的加权平均股数，结果也不是市场价格。[JPM-BS]（本文计算）
同理，不能只因为两个行名都含 `cash` 就自动认定现金范围相同。Costco Note 1 的现金及现金等价物包含一定结算期内的卡交易待收款；JPM现金流末端有它自己的两行构成。先核定义，再决定能否比较；本页不制造一个未经资料支持的“统一现金”调整数。[COST-CASH]、[JPM-CF]
## 4 练习：修好一张比较表
**解释题。** 一张表写道：“Costco 2024销售真实增长7.03%，因此2024期末存货也应先除以52再和2023比。”请保留有用的计算，改写错误的结论。
**解析。** 保留“2024相对2023的每周平均净销售额增长约7.03%”，并同时列出原始净销售增长约5.01%。删除“真实增长”，因为周数调整未控制其他因素；删除对期末存货的周数标准化，因为余额不是在52周内累计产生的销售流量。要比较库存，保留相应时点、计量和范围，并另行查找周转需要的分母。[COST-IS]、[COST-CALENDAR]、[COST-BS]
**迁移题。** 下面是明确虚构的另一家公司：第一季度收入100，上半年累计收入230，币种和合并范围相同，且无重述。有人说第二季度收入230、比一季度增长130%。应怎样修正？若上半年发生了合并范围变化，答案又应如何限定？
**解析。** 在题设可比条件下，第二季度单季收入为 `230 - 100 = 130`，相对第一季度增长 `130 / 100 - 1 = 30%`。230是上半年累计，不是第二季度单季。若范围变化，上半年累计减一季度累计仍可能得到报告口径的第二季度流量，但30%不能直接解释为同范围经营增长；必须说明新增合并业务的影响，无法拆分就标记不可比部分。这是期间减法的应用，不是该虚构企业的实际经营资料。
还有一个时间边界：本例中的报告期末描述业务和报表对应的时间，而信息截止日描述本次材料集合允许使用到哪一天。若要还原某个过去交易日的判断，须另外核验当时已经发布了哪些版本，不能把后来才发布的年报写回过去的信息集。
## 来源与实际定位
| 原件链接／代号 | 版本与具体定位 |
|---|---|
| [OPENSTAX-21] | BI-S01；OpenStax，2019，§2.1；时点报表和期间报表及其联系 |
| [COST-POLICY] | BI-S05；Costco FY2025 SEC 10-K Note 1 p.42，Basis of Presentation、Fiscal Year、Reclassification；采用同一报告的2024比较列 |
| [COST-CALENDAR] | BI-S05；Item 1 p.3，52/53周、十三个四周期间及季度构成；Note 1 p.42财年截止日 |
| [COST-IS] | BI-S05；合并利润表p.37；FY2025、FY2024、FY2023 Net sales，百万美元 |
| [COST-BS] | BI-S05；合并资产负债表p.39；两期商品存货为时点余额 |
| [COST-CASH] | BI-S05；Note 1 Cash and Cash Equivalents，p.42；结算范围 |
| [JPM-BS] | BI-S07；JPMorgan 2025 Annual Report，印刷p.167／物理p.199；集团表、优先股、普通股和库存股股数 |
| [JPM-SEC] | BI-S07；Note 10 Investment securities，印刷pp.228–229；44.1billion类别转移在p.228 |
| [JPM-CF] | BI-S07；完整现金流量表p.169／物理p.201；现金与存放银行款的期末构成 |
[OPENSTAX-21]: https://openstax.org/books/principles-financial-accounting/pages/2-1-describe-the-income-statement-statement-of-owners-equity-balance-sheet-and-statement-of-cash-flows-and-how-they-interrelate "BI-S01；OpenStax，2019，§2.1；时点报表和期间报表及其联系"
[COST-POLICY]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Costco FY2025 SEC 10-K Note 1 p.42，Basis of Presentation、Fiscal Year、Reclassification；采用同一报告的2024比较列"
[COST-CALENDAR]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Item 1 p.3，52/53周、十三个四周期间及季度构成；Note 1 p.42财年截止日"
[COST-IS]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；合并利润表p.37；FY2025、FY2024、FY2023 Net sales，百万美元"
[COST-BS]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；合并资产负债表p.39；两期商品存货为时点余额"
[COST-CASH]: https://www.sec.gov/Archives/edgar/data/909832/000090983225000101/cost-20250831.htm "BI-S05；Note 1 Cash and Cash Equivalents，p.42；结算范围"
[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；集团表、优先股、普通股和库存股股数"
[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；44.1billion类别转移在p.228"
[JPM-CF]: https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/annualreport-2025.pdf#page=201 "BI-S07；完整现金流量表p.169／物理p.201；现金与存放银行款的期末构成"
## Additional teaching material
## 交互、计算和静态等价
`BF03-PERIOD-UNIT` 的默认状态为Costco FY2024对FY2023，显示上面的两期原始销售、52/53周、5.0124%原始增长和约7.03%按周增长。切换“原始／每周平均”只新增一列派生值，不覆盖原始数据，也不把图题改成同店增长。静态表与§2算式提供完整默认结果。
单位切换保留基础存储单位USD_millions；显示为billion时全部金额除以1000，回切时乘以1000。股数shares及每股USD_per_share不参与同一金额转换。以44,100million／44.1billion作为固定核对项。余额行不提供“除以周数”按钮；若通过接口调用该操作，返回“该操作仅用于所选期间流量”，不得静默计算。
累计／单季演示仅使用上面的**教学数据**，默认100、230、导出单季130。输入必须是相同项目、币种、范围和兼容版本的累计值；财报自身未提供的数据不插值伪造。允许收入调整为负的实际情况，所以不把所有负结果一律判错；应检查输入与披露，而非以数值正负替代业务解释。
每次调整显示 `原值—单位/期间—公式—结果—剩余不可比因素`。键盘、窄屏及打印保留全部五项，图不是唯一入口。这里给出静态等价和交互规格；网页实现另行完成。
## Sources
- [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。
- [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 · §2.1](https://openstax.org/books/principles-financial-accounting/pages/2-1-describe-the-income-statement-statement-of-owners-equity-balance-sheet-and-statement-of-cash-flows-and-how-they-interrelate): 利润表解释一个期间的收入、费用和净收益；权益变动表把期间结果和所有者交易接回权益；资产负债表给出期末余额；现金流量表解释现金在期间怎样变化。四张表的连接需要使用相同企业范围和相匹配的期间。
## Content relations
```json
[
{
"from": "zh-bf03",
"relation": "part_of",
"to": "business-foundations",
"reason": "主要 topic 归属"
},
{
"from": "zh-bf03",
"relation": "supported_by",
"to": "BF-S-COST-FY2025-SEC",
"reason": "期间、合并、重分类和金额取自原件。",
"scope": "Costco Item 1 p.3；主表pp.37,39；Note 1 p.42"
},
{
"from": "zh-bf03",
"relation": "supported_by",
"to": "BF-S-JPM-FY2025",
"reason": "证券转移和普通股每股计算的原始输入。",
"scope": "JPM pp.167,228；单位与股份括注"
},
{
"from": "zh-bf03",
"relation": "uses_method",
"to": "zh-bf02",
"reason": "通过表头和附注取得口径；可就地调用，不形成互相硬先修。"
},
{
"from": "zh-bf03",
"relation": "informs",
"to": "zh-balance-sheet",
"reason": "为余额、附注与现金流比较提供具名口径，避免混用。"
}
]
```
## Related entries