The fourth message

Dear LaLa,
Thank you for your fourth message. My comments follow.
Sincerely,
Prof. Sue Stiner
 
Dear Dr. Stiner
Thank you for your reply and the corrections of my English.
I used Yahoo to seach RAW.
Congratulations on Kate's graduation!
Thank you. She is very happy to finally finish college.
I was glad to see the photos of the two graduation ceremonies.
It's wonderful ! The wonderful graduation day(sunshine), the
wonderful campus(all of green), the wonderful smile(happiness) !
Oh yes, it was all very wonderful!
I loved the blue clothes, which they wore at the graduation ceremonies.
 am impressed.....
<Sumｍary of the new lesson>
1) I am interested in the SEC website, but I could not read its detail.
 [The primary mission of the U.S. Securities and Exchange
 Commission(SEC) is to protect investors and maintain the integrity
 of the securities markets. As more and more first-time investors
 turn to the markets to help secure their futures, pay for homes, and
 send children to college, these goals are more compelling than ever. 
 The SEC's foundation was laid in an era that was ripe for reform.
 Before the Great Crash of 1929, there was little support for federal
 regulation of the securities markets. This was particularly true
 during the post-World War I surge of securities activity. Proposals
 that the federal government require financial disclosure and prevent
 the fraudulent sale of stock were never seriously pursued.
In 1934,President Franklin Delano Roosevelt appointed Joseph P.
 Kennedy, President John F. Kennedy's father, to serve as the first
 Chairman of the SEC. 
LaLa, you did an excellent job of getting information from the SEC
website. The English at the site is very difficult. I am very pleased
that you explored the site a little.
2) I visited the Stock Exchange of HongKong website. and link the
 China Stock Markets Web, that provides investors with convenient
 access to the latest information on listed companies and market
 movements in the stock markets of HongKong, Shanghai and Shenzhen.
The contents are updated daily with data from HKEx, Shanghai Stock
 Exchang and Shenzhen Stock Exchange.
Thank you for the links to the two Chinese stock exchanges and to the
China Stock Markets Web. I should have included them in my original list.
The Index of HongKong Market was decreased, the Shanghai and
Shenzhen Market was increased. 
Do you follow the stock market activities? Do you own stock in any
companies yourself?
<Homework>
1A: I don't know that Japan have SEC or no. I couldn't find the
 website of Japan's SEC. I'm sorry. But I found the SESC(Securities
 and Exchange Surveillance Commission) website. The English version is
 here: http://www.fsa.go.jp/sesc/english/index
 [ The primary mission of the SESC is to protect investors and
 maintain the integrity of the securities markets. To this end, They
 conduct inspections of securities companies, daily surveillance of
 securities markets and investigations of securities fraud. The main
 activities of the SESC are summarized as follows:
1, Investigation of Criminal Offences and Filing of Complaints
2, Inspection of Broker-Dealers, etc.
3, Daily market watch
4, Information Received from the General Public
5, Recommendations
6, Proposals
7, Annual Report 
LaLa, the American SEC performs these functions, too. In Japan the
Financial Services Agency and the SESC regulate the market for publicly
traded stocks. In the US, the SEC does the regulation.
1B: I have no confidence to answer this question. Compare the U.S.
 SEC and Japan's SESC, they are so different. One difference is that in 
Japan the regulatory functions are split into two agencies. In the US, all functions of listing and enforcement are in one agency.
2A: About 2800 companies listed on the NYSE, more than 460
 companies are not U.S. companies.
Correct!
2B: They are from 48 countries.
Correct!
3A: In millions of yen, it's ￥1,363,557.
Correct!
3B: In millions of US dollars, it's US$11,363.
Correct!
4A: Consolidated financial statements on the McDonald's of Japan
 website, include consolidated Balance Sheet and consolidated Income
 Statement and consolidated cash flow. by the way, The net loss is
 increased from 2002(￥2,335 million yen) to 2003(￥7,121 million
 yen) for BSE and other.
Excellent!
4B: On 2003 Financial Report of McDonald's USA website, they
 compared the data from 1993 to 2003, include the Operating
 results, Financial position, Per common share, they increased each
 year like Patterson Dental Company, be stable growth.
On the 2003 financial report of McDonald's USA website, they compared
the data from 1993 to 2003, including the operating results, the
financial position, and per common share earnings. They increased each
year, like Patterson Dental Company. It looks like stable growth.
5:The flow of accounting information over the Internet present all
 sorts of company's financial position and operating result to
 investors or corporations. and help them to decision-making(invest). 
The flow of accounting information over the Internet presents all sorts
of companies' financial positions and operating results to investors or
corporations, and helps them to make their investment decisions.
Correct!
Thank you for send your reply to my home account.
I checked your reply on Monday.
> Yours sincerely
> LaLa
Thank you so much for your excellent reply, LaLa. You are working very
hard for this course.
The new lesson this week is on the first financial statement, the
balance sheet. You can find the lesson at:
http://www72.homepage.villanova.edu/susan.stiner/cgu/balance104.htm

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