中南财经政法大学 中级会计学 英文版 4The Income Statement and Income Recognition
中南财经政法大学 中级会计学 英文版 5The Statement of Cash Flows
Intermediate Accounting 5 The Statement of Cash Flows
Cash Flows from Investing Activities
The Cash Flows From Investing Activities section includes all the cash inflows and outflows involved in investing activities transactions of the company. Common cash flows from investing activities are- Receipts from selling investments in stocks and debt securities. Reand equipment. Payments for investments in stocks and debt securities. Payments for purchases of property, plant, and equipment.
Intermediate Accounting 5 The Statement of Cash Flows
Direct Method Example
Yummy Corporation’s Income Statement is as follows: Sales revenue (cash and A/R) $70,000 Less: Cost of goods sold (cash and A/P) $(29,000) Salaries expense (cash and S/P) (13,000) Depreciation expense (8,000) (50,000 ) Income before income taxes $20,000 Income tax expense (cash) (6,000 ) Net income $14,000
中级财务会计 英文
Intermediate Financial AccountingIntroductionFinancial accounting is a fundamental component of a company’s management and reporting process. It involves the recording, analysis, and reporting of a company’s financial transactions. A strong foundation in financial accounting is essential for any individual looking to pursue a career in finance or accounting. This document aims to provide an overview of intermediate financial accounting concepts and principles.The Accounting CycleThe accounting cycle is a series of steps that are followed in the financial accounting process to ensure accurate and reliable financial reporting. The cycle begins with the recording of transactions and ends with the preparation of financial statements. The key steps in the accounting cycle include:1.Identifying and Analyzing Transactions: This step involvesidentifying relevant financial transactions and analyzing their impact on the company’s financial position.2.Recording Journal Entries: Journal entries are recorded todocument the financial transactions. These entries are made in the generaljournal, which is a chronological record of all transactions.3.Posting to General Ledger: The information from the journal entriesis transferred to the general ledger accounts, which are used to summarizetransactions for each account.4.Preparing Trial Balance: A trial balance is prepared to ensure thatall debit and credit balances in the general ledger are equal. If there are noerrors, the total debits will equal the total credits.5.Adjusting Entries: Adjusting entries are made at the end of theaccounting period to record any transactions that have not been previouslyrecorded, such as accruals and prepayments.6.Preparing Financial Statements: Financial statements, including theincome statement, balance sheet, and cash flow statement, are prepared toreport the company’s financial performance and position.7.Closing Entries: Closing entries are made to transfer balances fromtemporary accounts (such as revenue and expense accounts) to permanentaccounts (such as retained earnings).8.Preparing Post-Closing Trial Balance: A post-closing trial balance isprepared to ensure that all temporary accounts have been closed and that the accounting records are ready for the next accounting period.Financial Statement AnalysisFinancial statement analy sis involves the examination of a company’s financial statements to assess its financial performance and position. It helps in understanding the company’s profitability, liquidity, solvency, and efficiency. The key tools and techniques used in financial statement analysis include:•Horizontal Analysis: Horizontal analysis compares financial statement items over multiple periods to identify trends and changes.•Vertical Analysis: Vertical analysis involves expressing each financial statement item as a percentage of a base amount, such as total assets or netsales, to assess the relative importance of each item.•Ratio Analysis: Ratio analysis involves calculating and interpreting financial ratios to assess the company’s liquidity, solvency, profitability, and efficiency.•Common Size Ratios: Common size ratios are used to compare the relative percentages of different items within a financial statement.•DuPont Analysis: DuPont analysis decomposes the return on equity (ROE) into its components to assess the company’s profitability, efficiency, and leverage.Revenue Recognition and Expense RecognitionThe principles of revenue recognition and expense recognition are fundamental to financial accounting. These principles determine when revenue and expenses should be recognized in the financial statements. The generally accepted accounting principles (GAAP) provide guidelines for revenue recognition and expense recognition.•Revenue Recognition: Revenue is generally recognized when it is earned and realizable. It is earned when the company has delivered goods or services to the customer, and it is realizable when the company can reasonably expect to collect the amount. There are specific criteria for recognizing revenue from different sources, such as sales of goods, provision of services, andinterest and dividends.•Expense Recognition: Expenses are recognized when they are incurred and have a cause-and-effect relationship with revenue. The matching principle requires expenses to be recognized in the same period as the revenuethey help generate. There are different methods of expense recognition, such as the accrual basis and the cash basis.Inventory Valuation MethodsInventory valuation is a crucial aspect of financial accounting, as it impacts the company’s profitability, assets, and financial ratios. There are different methods used to value inventory, including:•FIFO (First-In, First-Out): The FIFO method assumes that the first units of inventory purchased or produced are the first to be sold or used. Itresults in the cost of goods sold being based on the oldest inventory.•LIFO (Last-In, First-Out): The LIFO method assumes that the last units of inventory purchased or produced are the first to be sold or used. Itresults in the cost of goods sold being based on the most recent inventory.•Weighted Average Cost: The weighted average cost method calculates the average cost of inventory based on the average cost per unit. It is calculated by dividing the total cost of goods available for sale by the total units available for sale.Each inventory valuation method has its advantages and disadvantages, and the choice of method can have a significant impact on the company’s f inancial statements and taxes.ConclusionIntermediate financial accounting plays a vital role in providing accurate and reliable financial information for decision-making and reporting. Understanding the accounting cycle, financial statement analysis, revenue recognition and expense recognition principles, and inventory valuation methods is essential for anyone seeking to excel in the field of finance or accounting. By acquiring a solid foundation in these concepts, individuals can enhance their ability to interpret financial data and contribute to the success of their organizations.。
会计英语第四版参考答案
会计英语第四版参考答案Chapter 1: Introduction to Accounting1. What is accounting?- Accounting is the systematic recording, summarizing, and reporting of financial transactions and events of a business entity.2. What are the main functions of accounting?- The main functions of accounting are to providefinancial information for decision-making, ensure compliance with laws and regulations, and facilitate the management of a business.3. What are the two main branches of accounting?- The two main branches of accounting are financial accounting and management accounting.4. What is the purpose of financial accounting?- The purpose of financial accounting is to provide an accurate and fair representation of an entity's financial position and performance to external users.5. What is the double-entry bookkeeping system?- The double-entry bookkeeping system is a method of recording financial transactions in which every transactionis recorded twice, once as a debit and once as a credit, to maintain the equality of the accounting equation.Chapter 2: Accounting Concepts and Principles1. What are the fundamental accounting concepts?- The fundamental accounting concepts include the accrual basis of accounting, going concern, consistency, and materiality.2. What is the accrual basis of accounting?- The accrual basis of accounting records transactions when they occur, regardless of when cash is received or paid.3. What is the going concern assumption?- The going concern assumption is the premise that a business will continue to operate for the foreseeable future.4. What is the principle of consistency?- The principle of consistency requires that an entity should apply accounting policies consistently over time.5. What is the principle of materiality?- The principle of materiality states that only items that could potentially affect the decisions of users of financial statements are included in the financial statements.Chapter 3: The Accounting Equation and Financial Statements1. What is the accounting equation?- The accounting equation is Assets = Liabilities +Owner's Equity.2. What are the four main financial statements?- The four main financial statements are the balance sheet, income statement, statement of changes in equity, and cashflow statement.3. What is the purpose of the balance sheet?- The balance sheet provides a snapshot of an entity's financial position at a specific point in time.4. What is the purpose of the income statement?- The income statement reports the revenues, expenses, and net income of an entity over a period of time.5. What is the purpose of the cash flow statement?- The cash flow statement reports the cash inflows and outflows of an entity over a period of time.Chapter 4: Recording Transactions1. What is a journal entry?- A journal entry is the initial recording of atransaction in the general journal.2. What are the steps in the accounting cycle?- The steps in the accounting cycle are analyzing transactions, journalizing, posting, preparing a trial balance, adjusting entries, preparing financial statements, and closing entries.3. What is the difference between a debit and a credit?- A debit is an increase in assets or a decrease inliabilities or equity, while a credit is an increase in liabilities or equity or a decrease in assets.4. What are adjusting entries?- Adjusting entries are made at the end of an accounting period to ensure that revenues and expenses are recorded in the correct period.5. What is the purpose of closing entries?- Closing entries are made to transfer the balances of temporary accounts to the owner's equity account and to prepare the accounts for the next accounting period.Chapter 5: Accounting for Merchandising Businesses1. What is a merchandise inventory?- A merchandise inventory is the stock of goods held by a business for sale to customers.2. What is the cost of goods sold?- The cost of goods sold is the direct cost of producing the merchandise sold during an accounting period.3. What is the gross profit?- The gross profit is the difference between the sales revenue and the cost of goods sold.4. What is the difference between a perpetual and a periodic inventory system?- A perpetual inventory system updates inventory records in real-time with each sale or purchase, while a periodicinventory system updates inventory records at specific intervals, such as at the end of an accounting period.5. What is the retail method of inventory pricing?- The retail method of inventory pricing is a method of estimating the cost of ending inventory by applying a cost-to-retail ratio to the retail value of the inventory.Chapter 6: Accounting for Service Businesses1. What are the main differences in accounting for service businesses compared to merchandise businesses?- Service businesses do not have inventory and their primary expenses are typically labor and overhead costs.2. What is the main source of revenue for service businesses? - The main source of revenue for service businesses is the fees charged for the services provided.3. What are the typical expenses。
中级财务会计英文版.课后答案(chap2)
Exercise 2-4Requirement 1Sales price = 100 units x $600 = $60,000 x 70% = $42,000Requirement 2Exercise 7-4 (concluded)Requirement 3Requirement 1, using the net method:Requirement 2, using the net method:Exercise 2-7Requirement 1Estimated returns = 4% x $11,500,000 = $460,000Less: Actual returns (450,000)Remaining estimated returns $10,000Note: another series of journal entries that produce the same end result would be:Exercise 2-7 (continued)Requirement 2Beginning balance in allowance account $300,000 Add: Year-end estimate 460,000 Less: Actual returns (450,000) Ending balance in allowance account $310,000Exercise 2-8Requirement 1Bad debt expense = $67,500 (1.5% x $4,500,000)Requirement 2Allowance for uncollectible accountsBalance, beginning of year $42,000 Add: Bad debt expense for 2011 (1.5% x $4,500,000) 67,500 Less: End-of-year balance (40,000) Accounts receivable written off $69,500 Requirement 3$69,500 — the amount of accounts receivable written off.Exercise 2-9Requirement 1To record the write-off of receivables.To reinstate an account previously written off and to record the collection.Allowance for uncollectible accounts:Balance, beginning of year $32,000Deduct: Receivables written off (21,000) Add: Collection of receivable previously written off 1,200Balance, before adjusting entry for 2011 bad debts 12,200Required allowance: 10% x $625,000 (62,500) Bad debt expense $50,300 To record bad debt expense for the year.Requirement 2Current assets:Accounts receivable, net of $62,500 allowancefor uncollectible accounts $562,500Exercise 2-10Using the direct write-off method, bad debt expense is equal to actual write-offs. Collections of previously written-off receivables are recorded as revenue.Allowance for uncollectible accounts:Balance, beginning of year $17,280Deduct: Receivables written off (17,100)Add: Collection of receivables previously written off 2,200Less: End of year balance (22,410)Bad debt expense for the year 2011 $20,030 Exercise 2-11($ in millions)Allowance for uncollectible accounts:Balance, beginning of year $16Add: Bad debt expense 14Less: End of year balance (18)Write-offs during the year $ 12*Accounts receivable analysis:Balance, beginning of year ($1,084 + 16)$ 1,100Add: Credit sales 4,271Less: Write-offs* (12)Less: Balance end of year ($953 + 18) (971)Cash collections $4,388Exercise 2-12Requirement 1Requirement 22011 income before income taxes would be understated by $900 2012 income before income taxes would be overstated by $900.Exercise2-13Requirement 1Requirement 2$ 1,800 interest for 9 months÷ $28,200 sales price= 6.383% rate for 9 monthsx 12/9to annualize the rate_______= 8.511% effective interest rateExercise 2-14Requirement 1Book value of stock $16,000Plus gain on sale of stock 6,000= Note receivable $22,000Interest reported for the year $ 2,200= 10% rate Divided by value of note $ 22,000 Requirement 2To record sale of stock in exchange for note receivable.To accrue interest on note receivable for twelve months.Exercise 2-15Exercise 2-16Exercise 2-17Exercise 2-18Mountain High retains significant risks and rewards and therefore must treat the transfer as a secured borrowing. The accounts receivable stay on the balance sheet of Mountain High, and they must record a liability.Exercise 2-19Step 1: Accrue interest earned.Step 2: Add interest to maturity to calculate maturity value.Step 3: Deduct discount to calculate cash proceeds.Step 4: To record a loss for the difference between the cash proceeds and the note’s book value.Exercise 2-21Requirement 1Step 1: To accrue interest earned for two months on note receivableStep 2: Add interest to maturity to calculate maturity value.Step 3: Deduct discount to calculate cash proceeds.Exercise 7-21 (continued)Step 4: To record a loss for the difference between the cash proceeds and the note’s book value.Exercise 2-21 (concluded)Requirement 2To accrue interest earned on note receivable.。
中级会计学_中南财经政法大学中国大学mooc课后章节答案期末考试题库2023年
中级会计学_中南财经政法大学中国大学mooc课后章节答案期末考试题库2023年1.下列各项中，属于反映企业财务状况的会计要素是（）。
答案:资产2.企业出现的现金短款，无法查明原因时，按照管理权限经批准后，应计入（）。
答案:管理费用3.资产负债表日的应收账款的预期信用损失大于坏账准备的期初余额时，应贷记的会计科目为（）。
答案:坏账准备4.蓝星公司对其发出材料采用先进先出法计价，2022年12月1日库存A材料15 000千克，实际成本为150 000元；12月2日购买A材料120 000千克，单价11元；12月18日购买A材料90 000千克，单价12元；12月6日发出A材料90 000千克。
2022年12月31日蓝星公司结存A材料金额为（）元。
答案:1 575 0005.甲公司对其固定资产采用年数总和法计提折旧时，年折旧额（）。
答案:逐年递减6.企业在无形资产研究阶段发生的职工薪酬应当（）。
答案:计入管理费用7.甲公司于2022年12月5日从证券市场上购入乙公司发行在外的股票100万股作为以公允价值计量且其变动计入当期损益的金融资产，每股支付价款5元（含已宣告但尚未发放的现金股利1元），另支付相关交易费用8万元，甲公司确认为以公允价值计量且其变动计入当期损益的金融资产的入账价值为（）万元。
答案:4008.甲公司增值税采用一般计税方法，其发生的下列税费中，不应计入相应资产成本的是（）。
答案:购置用于不动产扩建工程的工程材料支付的增值税9.下列各项中，属于流动资产的是（）。
答案:货币资金10.下列各项中，应确认为工业企业其他业务收入的是（）。
答案:材料销售收入11.委托加工应纳消费税物资（非金银首饰）收回后，若将其用于连续生产应税消费品时，由受托方代扣代缴的消费税应记入的科目是（）。
答案:应交税费——应交消费税12.甲公司2022年1月1日取得乙公司40%的股权，对乙公司财务与经营政策有重大影响，并准备长期持有。
中级财务会计(双语)第四章
Applying LCM method
• Use LCM to determine the inventory value. Three applications:
150,000
80,000 90,000 95,000 265,000 415,000
155,000
65,000 56,000 86,000 207,000
150,000
207,000 357,000
Adjusting Cost to Market
• • • Write-down of inventory =415,000-357,000=58,000 Dr. Loss on write-down of inventory 58,000 Cr. Inventory valuation allowance 58,000
Impairment of Inventories
• How do we know we have an impairment of inventories? 如何判断存货存在减值迹象？ • Impairment is incurred:
▪ If those inventories are damaged 被损坏 ▪ If inventories have become wholly or partially obsolete 部分或全部过时 ▪ If their selling prices have declined 市价下跌 ▪ If the estimated costs of completion or the estimated costs to be incurred to make the sale have increased. 估计的完工成本或估计的销售费用上 涨
中级财务会计基本术语中英文对照
中级财务会计专业术语中英对照第一章、会计，商业语言会计信息Accounting Information财务报告Financial Report财务会计Financial Accounting管理会计Management Accounting成本会计Cost Accounting税务会计Tax Accounting注册会计师Certified Public Accountant会计职业Accounting Profession职业道德Professional Ethics会计规范Accounting Regulation会计准则Accounting Standards会计国际化Internationalization of Accounting会计的国际协调International Harmonization of Accounting 国际会计准则International Accounting Standards第二章、资产负债表与所有者权益变动表资产Asset负债Liability所有者权益Equity资产负债表Balance Sheet主体理论Entity Theory业主权利轮Proprietorship Theory第三章、利润表利润表Income Statement持续经营理论Income from Continuing Operations单步式Single-Step Form总括收益观All-Inclusive Income Perspective多步式Multiple-Step Form收入费用观Income-Expense View当期经营业绩观Current Income Perspective会计政策Accounting Policy会计估计Accounting Estimate第四章、收入与货币性资产收入Revenue售时确认Revenue Recognition确认Recognition售后确认Revenue Recognition after Sale现金Cash In Hands售前确认Pre-Sale Revenue Recognition银行存款Cash in Bank银行存款余额调节表Statement of Bank Reconciliation赊销Sales on Accounts商业折扣Trade Discount现金折扣Cash Discount销售退回与折让Sales Returns and Allowances应收票据Notes Receivable应收账款Accounts Receivable坏账Bad Debt坏账准备Allowance for Doubtful Accounts坏账费用Bad Notes Expense现金等价物Cash Equivalents备抵法Allowance Method直接核销法Specific Write-off Method预付账款Repaid Payment账龄法Aging of Accounts Receivable应收票据贴现Bank Discounting销售百分比法Percentage of Sales Method应收账款百分比法Percentage of Accounts Receivable Method第五章、销售成本与存货存货Inventory销售成本Costs of Goods Sold定期盘存制Periodic Inventory System永续盘存制Perpetual Inventory System个别计价法Specific Identification先进先出法First-in First-out Method ,FIFO后进先出法Last-in First-out Method ,LIFO加权平均法Weight Average Method可变现净值Net Realizable Value移动平均法Moving Weight Average Method稳健性原则Conservatism Principle一致性原则Consistency Principle成本与市价孰低法Lower-of-Cost-or-Market Method ,LCM第六章、长期资产及摊销长期资产Long-Term Asset摊销Amortization资本性支出Capital Expenditure收益性支出income Expenditure固定资产Fixed Assets累计折旧Accumulated Depreciation直线法Straight Line Method加速折旧法Acceleration Depreciation Method双倍余额递减法Double Declining-Balance Depreciation Method 年数总和法Sum-of-The-Years-Digits Method无形资产Intangible Assets研究开发成本Research &Development Costs商誉Goodwill自创商誉Internally Developed Goodwill外购商誉Purchased Goodwill立即注销法Immediate Write-off Method永久保留法Non-Amortization Method系统摊销法Systematical Amortization Method 递耗资产Wasting Assets折耗Depletion递延资产Deferred Assets or Deferred Charges 第七章、长期投资于企业合并投资investment短期投资short-term investment长期投资long-term investment股票投资stock investment债券投资bond investment直线法straight-line method实际利率法effective rate method成本法cost method权益法equity method可转换债券convertible bond企业合并business combination吸收合并merger创立合并consolidation控股合并acquisition of majority interest横向合并horizontal integration纵向合并vertical integration混合合并conglomeration合并财务报表consolidated financial statements购买法purchase method权益结合法pooling of interest method母公司parent company子公司subsidiary company第八章、资本来源：负债负债liabilities流动负债current liabilities长期负债long-term liabilities短期借款short-term bank loans应付票据notes payable带息票据Interest-bearing notes应付账款accounts payable不带息票据noninterest-bearing notes应付工资wages payable增值税value-added tax消费税excise应付公司债券bonds payable信用债券debenture抵押债券mortgage bonds可转换公司债券convertible bonds长期借款long-term loans复利compound interest年金annuity终值future value现值present value本金principle利息interest第九章、资本来源：所有者权益所有者权益owner’s equity实收资本paid-in capital资本公积capital reserve盈余公积surplus from profit独资企业sole proprietorship合伙企业partnership enterprise公司制企业corporate enterprise普通股common share优先股preferred share第十章、特殊会计问题：非货币性资产交换非货币性资产交换non-monetary transaction 非货币性资产non-monetary asset货币性资产monetary asset换入资产swap-in asset换出资产swap-out asset公允价值fair value账面价值book value第十一章、特殊会计问题：债务重组债务重组debt reorganization或有支出contingent payment或有收益contingent gain第十二章、特殊会计问题：或有事项或有事项contingency或有资产contingent asset或有负债contingent liability第十三章、特殊会计问题：关联方关系及交易关联方related party控制control共同控制common control重大影响material influence母公司parent company子公司subsidiary company合营企业joint venture联营企业affiliated enterprise第十四章、企业财务报告----资产负债表与利润表财务报告financial report财务信息financial information第十五章、企业财务报告----现金流量表与所有者和权益变动表现金等价物cash equivalent现金流动表cash flow statement经营活动operating activity投资活动investment activity筹资活动financing activity直接法direct method间接法indirect method工作底稿法working sheet methodT型帐户法T account method第十六章、会计调整会计调整Accounting Adjustment会计政策变更Accounting policy change追溯调整法retrospective application未来适用法prospective application会计估计变更accounting estimate change会计差错更正accounting error correction资产负债表日后事项event occurring after the balance sheet date 调整事项adjustment event非调整事项non-adjustment event第十七章、财务报表分析财务报表分析financial statements analysis结构分析法structural analysis method趋势分析法trend analysis method比率分析法ratio analysis method偿债能力debt repayment ability流动比率current ratio速动比率quick ratio资产负债率liabilities to assets ratio产权比率liabilities to equity ratio有形净值负债率liabilities to tangible assets ratio已获利息倍数interest coverage营运能力operating capacity存货周转率inventory turnover ratio应收账款周转率receivable turnover ratio营业周期operating period总资产周转率assets turnover ratio流动资产周转率current assets turnover ratio盈利能力profitability销售毛利率gross profit ratio销售净利率net income to sales ratio资产净利率rate of return on total assets净资产收益率return on shareholders’ equity权益乘数equity multiplier市场价值market value每股盈余earnings per share, EPS市盈率price earnings ratio股利支付率dividend payout ratio每股净资产net assets per share第十八章、理解财务报表财务报表附注notes to financial statements审计报告audit report审计意见audit opinion无保留意见unqualified opinion保留意见qualified opinion否定意见adverse opinion无法表示意见disclaimer opinion第十九章、传统财务报告的补充形式分部报告segmental reporting业务分部operating segmental地区分部geographical segmental报告分部reporting segmental主要报告形式principle reporting form次要报告形式secondary reporting form中期财务报告interim financial report分离观discrete view整体观integral view管理当局讨论与分析management’s discussion and analysis, MD&A 财务预测报告financial forecasted report社会责任报告social responsibility report。
中级财务会计(英文)课件Chapter 4 The Income Statement and Income Recognition
4 The Income Statement and Income Recognition
I
ntermediate Accounting
中级会计学
Accounting School ·Zhongnan University of Economics & Law
Intermediate Accounting 4 The Income Statement and Income Recognition
Revenues Expenses Gains Losses
Intermediate Accounting 4 The Income Statement and Income Recognition
Elements of the Income Statement — Revenues
Ending net assets The corporation could pay Less: Additional investment $40,000 to stockholders Ending net assets out excluding investment and still be as well off at Less: Beginning net assets Total income for the year year-end. $90,000 0 $90,000 (50,000) $40,000
IntermediateAccountingChapter4中级会计学第四章课后习题答案
Chapter 4The Income Statement and Statement of Cash FlowsQUESTIONS FOR REVIEW OF KEY TOPICSQuestion 4-5The term earnings quality refers to the ability of reported earnings (income) to predict a company’s future earnings. After all, an income statement simply reports on events that already have occurred. The relevance of any historical-based financial statement hinges on its predictive value.Question 4-7The process of intraperiod tax allocation matches tax expense or tax benefit with each major component of income, specifically continuing operations and any item reported below continuing operations. The process is necessary to achieve the desired result of separating the total income effects of continuing operations from the two separately reported items - discontinued operations and extraordinary items, and also to show the after-tax effect of each of those two components.Question 4-9Extraordinary items are material gains and losses that are both unusual in nature and infrequent in occurrence, taking into account the environment in which the entity operates.Question 4-11GAAP permit alternative treatments for similar transactions. Common examples are the choice among FIFO, LIFO, and average cost for the measurement of inventory and the choice among alternative revenue recognition methods. A change in accounting principle occurs when a company changes from one generally accepted treatment to another.In general, we report voluntary changes in accounting principles retrospectively. This means revising all previous periods’ financial statements as if the new method were used in those periods. In other words, for each year in the comparative statements reported, we revise the balance of each account affected. Specifically, we make those statements appear as if the newly adopted accounting method had been applied all along. Also, if retained earnings is one of the accounts whose balance requires adjustment (and it usually is), we revise the beginning balance of retained earnings for the earliest period reported in the comparative statements of shareholders’ equity (or statements of retained earnings if they’re presented instead).Then we create a journal entry to adjust all account balances affected as of the date of the change. In the first set of financial statements after the change, a disclosure note would describe the change and justify the new method as preferable. It also would describe the effects of the change on all items affected, including the fact that the retained earnings balance was revised in the statement of shareholders’ equity along with the cumulative effect of the change in retained earnings.An exception is a change in depreciation, amortization, or depletion method. These changes are accounted for as a change in estimate, rather than as a change in accounting principle. Changes in estimates are accounted for prospectively. The remaining book value is depreciated, amortized, or depleted, using the new method, over the remaining useful life.Question 4-15Comprehensive income is the total change in equity for a reporting period other than from transactions with owners. Reporting comprehensive income can be accomplished with a separate statement or by including the information in either the income statement or the statement of changes in shareholders’ equity.Question 4-22U.S. GAAP designates cash outflows for interest payments and cash inflows from interest and dividends received as operating cash flows. Dividends paid to shareholders are classified as financing cash flows. IFRS allows more flexibility. Companies can report interest and dividends paid as either operating or financing cash flows and interest and dividends received as either operating or investing cash flows. Interest and dividend payments usually are reported as financing activities. Interest and dividends received normally are classified as investing activitiesBRIEF EXERCISESBrief Exercise 4-6*$850,000 x 40%Note: Restructuring costs, interest revenue, and loss on sale of investments are included in income before income taxes and extraordinary item.Brief Exercise 4-9*$5,800,000 x 30%** Loss from operations of discontinued component:Impairment loss ($8 million book value less$7 million net fair value) $(1,000,000) Operating loss (3,600,000) Total before-tax loss $(4,600,000)EXERCISES Exercise 4-3* 30% x $440,000Pretax income from continuing operations $14,000,000Income tax expense (5,600,000) Income from continuing operations 8,400,000 Less: Net income 7,200,000 Loss from discontinued operations $1,200,000 $1,200,000 60%* = $2,000,000 = before tax loss from discontinued operations.*1-tax rate of 40% = 60%Pretax income of division $4,000,000 Add: Loss from discontinued operations 2,000,000 Impairment loss $6,000,000 Fair value of division’s assets$11,000,000 Add: Impairment loss 6,000,000 Book value of division’s assets$17,000,000Requirement 1This is a change in accounting estimate.Requirement 2$2,400,000 Cost$240,000 Previous annual amortization ($2,400,000 ÷ 10 years) x 21/2 yrs. 600,000 Amortization to date (2009-2011)1,800,000 Book value÷ 5 yrs. Estimated remaining life(given)$ 360,000 New annual amortizationTiger EnterprisesStatement of Cash FlowsFor the Year Ended December 31, 2011($ in thousands)Cash flows from operating activities:Net income $ 900Adjustments for noncash effects:Depreciation expense 240Changes in operating assets and liabilities:Decrease in accounts receivable 80Increase in inventory (40)Increase in prepaid insurance (30)Decrease in accounts payable (60)Decrease in administrative and other payables (100)Increase in income taxes payable 50Net cash flows from operating activities $1,040 Cash flows from investing activities:Purchase of plant and equipment (300) Cash flows from financing activities:Proceeds from issuance of common stock 100Proceeds from note payable 200Payment of dividends (1) (940)Net cash flows from financing activities(640)Net increase in cash 100 Cash, January 1 200 Cash, December 31 $ 300(1)Retained earnings, beginning $540+ Net income 900- Dividends x x = $940Retained earnings, ending $500The T-account analysis of the transactions related to operating cash flows is shown below. To derive the cash flows, the beginning and ending balances in the related assets and liabilities are inserted, together with the revenue and expense amounts from the income statements. In each balance sheet account, the remaining (plug) figure is the other half of the cash increases or decreases.Based on the information in the T-accounts above, the operating activities section of the SCF for Tiger Enterprises would be as shown next.Exercise 4-23 (concluded)Tiger EnterprisesStatement of Cash FlowsFor the Year Ended December 31, 2011($ in thousands)Cash flows from operating activities:Collections from customers $ 7,080Prepayment of insurance (130)Payment to inventory suppliers (3,460)Payment for administrative & other exp. (1,900)Payment of income taxes (550)Net cash flows from operating activities $ 1,040CPA / CMA REVIEW QUESTIONSCPA Exam Questions1. c. U.S. GAAP requires that discontinued operations be disclosed separatelybelow income from continuing operations.2. d.Other than sales, COGS, and administrative expenses, only the gain or lossfrom disposal of equipment is considered part of income from continuingoperations. Income from continuing operations was ($5,000,000 - 3,000,000- 1,000,000 + 200,000) = $1,200,000.3. a. In a single-step income statement, revenues include sales as well as otherrevenues and gains.Sales revenue $187,000Interest revenue 10,200Gain on sale of equipment 4,700Total $201,900The discontinued operations and the extraordinary gain are reported belowincome from continuing operations.4.a.The $400,000 impairment loss and the $1,000,000 loss from operationsshould be combined for a total loss of $1,400,000.5.d. The change in the estimate for warranty costs is based on new informationobtained from experience and qualifies as a change in accounting estimate. Achange in accounting estimate affects current and future periods and is notaccounted for by restating prior periods. The accounting change is a part ofcontinuing operations.6. a. Dividends paid to shareholders is considered a financing cash flow, not anoperating cash flow.7. c. Issuing common stock for cash is considered a financing cash flow, not aninvesting cash flow.CMA Exam Questions1.d. Discontinued operations and extraordinary gains and losses are shownseparately in the income statement, below income from continuing operations.The cumulative effect of most voluntary changes in accounting principle isaccounted for by retrospectively revising prior years’ financial statements.2.c.The operating section of a retailer’s income statement includes all revenuesand costs necessary for the operation of the retail establishment, e.g., sales,cost of goods sold, administrative expenses, and selling expenses.3 a. Extraordinary items should be presented net of tax after income fromoperations.PROBLEMSProblem 4-9Requirement 1Diversified Portfolio CorporationStatement of Cash FlowsFor the Year Ended December 31, 2011Cash flows from operating activities:Collections from customers (1)$880,000Payment of operating expenses (2)(660,000)Payment of income taxes (3)(85,000)Net cash flows from operating activities $135,000Cash flows from investing activities:Sale of investments 50,000Net cash flows from investing activities 50,000Cash flows from financing activities:Proceeds from issue of common stock 100,000Payment of dividends (80,000)Net cash flows from financing activities 20,000Increase in cash 205,000Cash and cash equivalents, January 1 70,000Cash and cash equivalents, December 31 $275,000(1)$900,000 in service revenue less $20,000 increase in accounts receivable.(2) $700,000 in operating expenses less $30,000 in depreciation less $10,000 increase in accounts payable.(3)$80,000 in income tax expense plus $5,000 decrease in income taxes payable.Problem 4-9 (concluded)Requirement 2Diversified Portfolio CorporationStatement of Cash FlowsFor the Year Ended December 31, 2011Cash flows from operating activities:Net income $120,000Adjustments for noncash effects:Depreciation expense 30,000Changes in operating assets and liabilities:Increase in accounts receivable (20,000)Increase in accounts payable 10,000Decrease in income taxes payable (5,000)Net cash flows from operating activities $135,000。
中级财务会计英文
Accounting Changes Reporting Issues & Approaches
Why are accounting changes made? New FASB pronouncements Changing economic conditions Changing internal circumstances
Continued
Retrospective Adjustment Method
3. The company adjusts the financial statements of each prior period to reflect the specific effects of applying the new accounting principle. That is, each item in each financial statement that is affected by the change is restated to the appropriate amount under the new accounting principle. The company uses the new accounting principle in its current financial statements.
distinguished from a change in accounting estimate
Changes in Accounting Principle
Three approaches for reporting changes: 1) Currently (cumulative effect). 2) Retrospectively. 3) Prospectively (in the future). 4) FASB requires use of the retrospective approach.
中南财经政法大学成教学位英语考试真题
中南财经政法大学成教学位英语考试真题Title: Zhongnan University of Economics and Law School of Continuing Education Degree English Exam QuestionsIntroduction:Zhongnan University of Economics and Law (ZUEL) is a prestigious university located in Wuhan, China. The School of Continuing Education at ZUEL offers various degree programs for adult learners, including an English exam as part of the assessment process. This article will explore the English exam questions for the School of Continuing Education at ZUEL.Listening Section:1. Listen to the following conversation and answer the questions:Woman: Can you help me find the nearest post office?Man: Sure, it's just two blocks away. You can walk there.Question: Where is the nearest post office located?2. Listen to the weather report and complete the sentences:Today's weather will be __________ with a high of ________ degrees Celsius.Question: What will the weather be like today?Reading Comprehension:Read the following passage and answer the questions:Pandas are adorable animals that are native to China. They are known for their black and white fur and love of bamboo. Unfortunately, pandas are an endangered species due to deforestation and hunting.Questions:1. Where are pandas native to?2. Why are pandas endangered?Writing Section:Write an essay on the importance of environmental protection. Discuss the impact of human activities on the environment and propose solutions to address these issues.Speaking Section:1. Introduce yourself and talk about your hobbies and interests.2. Describe your favorite vacation destination and explain why you enjoy visiting that place.Overall, the English exam for the School of Continuing Education at ZUEL aims to assess students' listening, reading, writing, and speaking skills. By testing their English proficiency, the exam ensures that students are prepared to succeed in their degree programs at ZUEL. Good luck to all test takers!。
中南财经政法大学会计学院
中南财经政法大学会计学院School of Accounting, Zhongnan University of Economics & Law中级会计学(英文)课程(Intermediate Accounting)教学大纲(SYLLABUS)《中级财务会计》教学小组编写Teaching Team of Intermediate Accounting2006年2月修订(Feb.2006)Course NatureThis course is designed for undergraduate students majoring in accounting and auditing. It is arranged in the fourth or fifth semester. It is aimed to enhance students’ ability both in western accounting knowledge and professional English, and to improve competitive for their job.The teaching content and arrangements of this course should be strictly according to this teaching outline.Teaching ObjectiveAfter finishing learning this course, the students are required to understand the fundamenta western accounting theory, accounting concepts and the procedures and skills in dealing with the preparation of financial statements. By comparing the major differences of accounting treatment between U.S.A and China, the students are required to make comments on Chinese and US accounting standards and make research on them.Teaching ContentLesson 1 THE ENVIRONMENT OF FINANCIAL REPORTINGForewordsI. Accounting information: users, uses, and GAAP in U.S.A.2.The development of accounting standards in U.S.A.2.1 Brief history of development of accounting standards – CAP, APB, FASB2. 2 Financial Accounting Standards Board (FASB)2.2.1 Organization1.2.2 Statements issued by FASB3. Other organizations currently influencing GAAP in U.S.A.3.1 SEC, AICPA, EITF, CASB, IRS, AAA, IASC/IASB, GASB, professional organizations3.2 Relationship of organizations in current standard setting environment4.Ethics in the accounting environment5. Comparison of the development of accounting standards in China and in U.S.A. (Case)Lesson 2 FINANCIAL REPORTING:ITS CONCEPTUAL FRAMEWORK1.FASB conceptual framework1.1 General value of framework1.2 Nature and components of the FASB’s conceptual framework2.Objectives of financial reporting3.Qualitative characteristics of accounting information3. 1 Hierarchy of qualitative characteristics3.2 Pervasive constraint: benefits > cost3.3 Primary decision-specific qualities.3.3.1. Relevance3.3.2. Reliability3.4 Secondary decision-specific qualities- Comparability and consistency3.5 Threshold for recognition: materiality.4. Accounting assumptions and conventions4.1 Assumptions-- E ntity, Continuity (going-concern), Period of time, Monetary unit4. 2 Conventions-- Historical cost, Realization and recognition, matching and accrual accounting, Conservatism (prudence)5. Elements of financial statements5.1 Balance sheet – Asset, Liability, Equity5.2 Income statement – Revenue, Expenses, Gains, Losses5. 3 Statement of cash flows—Operating cash flows, Investing cash flows, Financing cash flows5.4 Statement of changes in equity—Investment by owners, Distribution to owners6. Comparison of accounting concepts in China and in U.S.A. (Case)Lesson 3 THE BALANCE SHEET AND STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY1.Interrelationship of financial statements2.Elements of the balance sheet3. Measurement of the elements of the balance sheet4. Reporting classifications on the balance sheet4. 1 Asset and liability classifications4. 2 Conceptual guidelines for reporting assets and liabilities4. 3 Stockholders' equity classifications5. Limitations of the balance sheet6. Statement of changes in stockholders' equityII Other disclosure issues8. Reporting techniques9. Balance Sheet analysisLesson 4 THE INCOME STATEMENT AND INCOME RECOGNITION1. Concepts of income1. 1 Capital maintenance1. 2 Transactional approach2. Elements of the income statement3. Income statement content3.1 Income from continuing operations3.2 Results from discontinued operations3.3 Extraordinary items3.4 Effects of accounting changes3.5 Earnings per share4. Income statement formats4.1 Single-step4.2 Multiple-step5. Limitations of the income statement6. Income Statement analysis7. Comprehensive income8. Conceptual issues of revenue recognition8.1 Revenue recognition criteria8.2 E conomic substance versus legal form8.3 Transfer of risks and benefits8.4 Collectibility of receivable9. Revenue recognition alternatives9.1 Normal revenue recognition9. 2 Revenue recognition prior to the period of sale9. 3Revenue recognition after the period of saleLesson 5 THE STATEMENT OF CASH FLOWS1.Conceptual overview and uses of the Statement of Cash Flows2.Structure of the Statement of Cash Flows2.1 Three categories of cash flows.2.2 Supplemental disclosures3.Reporting Cash Flow From OperationsOperating cycleTwo methods3.2.1 Direct method--Illustration3.2.2 Indirect method-- Illustration4.Preparing a complete Statement of Cash FlowsA six-step process for preparing a statement of cash flows.ing cash flow data to assess financial strengthChapter 6 CASH AND RECEIVABLESI. Accounting for cash1.1 Measurement as a current asset1.2 Cash and cash equivalents1.3 Cash management1.4 Petty cash system2. Bank reconciliation3. Special topics3.1 Electronic funds transfer systems3.2 Compensating balances4. Receivables4.1 Classifications4.1.1 Current vs noncurrent4.1.2 Trade receivables4.1.3 Nontrade receivables4.2 Valuation issues4.2.1 Initial recording based on expected future cash flows4.2.2 Estimation of the probability of collection5. Accounts receivable5. 1 Cash (sales) discounts5.2 Sales returns and allowances6. Valuation of accounts receivable for uncollectible accounts6.1 Estimated bad debts method6.1.1 Income statement approach6.1.2 Balance sheet approach6.2 Recording bad debts6.3 Writing off uncollectible accounts6.4 Collection of an account previously written-off6.5 Direct write-off method7. Generating immediate cash from accounts receivable7.1 Conceptual issues7.2 Pledging7.3 Assignment7.4 Factoring of receivables7.5 Disclosure of financing agreements8. Notes receivable (short-term)Lesson 7 INVENTORIES1. Classifications of inventoryIII. A lternative inventory systems2. 1 Perpetual2. 2 Periodic3. Items to be included in inventory quantities4. Determination of inventory costs4.1Items included in inventory cost.4.2 Discounts as reductions in cost.4.3 Purchase returns and allowances.4.4 Summary5. Inventory valuation methods5. 1 Specific identification5. 2 First-in, first-out (FIFO)5. 3 Average cost5. 4 Last-in, first-out (LIFO)5. 5 Comparison6. Inventory valuation at other than cost6. 1 Lower of cost or market (LCM)6. 1.1 Application of LCM6.1.2 Conceptual evaluation of ceiling and floor6.1.3 Approaches to applying LCM6.1.4 Recording the reduction of inventory to market6.1.5 LCM and interim financial statements6.1.6 Conceptual evaluation of LCM6.2 Gross profit method6.3 Retail inventory method7. Effects of inventory errorsLesson 8 PROPERTY, PLANT, AND EQUIPMENT1. Classification as property, plant, and equipment (PPE)1.1 Characteristics1.2 Evaluation of use of historical cost2. Acquisition of PPE3. Assets acquired by exchange of other assets3.1 Definition of nonmonetary exchange3.2 Dissimilar productive asset exchanges3.3 Similar productive asset exchanges3.4 Comparison of accounting treatments in China and in U.S.A. (Case)4. Self-construction4.1 Interest during construction4.2 Fixed overhead costs5. Costs subsequent to acquisition6. Disposal of property, plant, and equipment7. Disclosure of property, plant, and equipment8. Depreciation and depletion8.1 Cost allocation terms8.2 Factors involved in depreciation8.3 Methods of cost allocation8.4 Conceptual evaluation of depreciation methods8.5 Disclosure requirements for depreciation8.6 Depreciation for partial periods8.7 Depletion9. Impairment of noncurrent assets9.1 Impairment test9.2 Measurement of loss9.3 Conceptual evaluationLesson 9 INTANGIBLES1. Accounting for intangibles1.1 Cost1.2 Amortization or impairment2. Research and development (R&D)2.1 Definitions2.2 Costs included as R&D2.3 Cost treatment2.4 Conceptual evaluation of accounting for R&D costs3.Identifiable intangible assets4. Unidentifiable intangibles5. Disclosure of intangibles5.1 In period intangible assets are acquired5.2 In each period company presents a balance sheet6. Conceptual evaluation of accounting for intangiblesLesson 10 CURRENT LIABILITIES AND CONTINGENCIES1. Conceptual overview of liabilities2. Nature and definition of current liabilities2.1 Liquidation expected within a year or an operating cycle, whichever is longer2.2 Liquidity and financial flexibility2.3 Classification3.Valuation of current liabilities4. Current liabilities having a contractual amount5. Current liabilities whose amounts depend on operations6. Current liabilities requiring amounts to be estimated7. Contingencies7.1 Definition in FASB Statement No. 57.2 Accrual of loss contingencies7.3 Disclosure of loss contingencies in notes to financial statements7.4 Disclosure of gain contingencies in notes to financial statements8. Other liability classification issues8.1 Short-term debt expected to be refinanced8.2 Classification of obligations that are callable by the creditor9. Presentation of current liabilities in the financial statementsLesson 11 LONG-TERM LIABILITIES AND RECEIVABLES1. Reasons for issuance of long-term liabilities2. Bonds payable2.1 Terms2.2 Bond selling prices2.3 Recording the issuance of bonds2.3.1 Premium on bonds payable: adjunct account2.3.2 Discount on bonds payable: contra account2.3.3 Carrying (book) value2 4. Bonds issued between interest payment dates2.5 Amortizing discounts and premiums2.5.1 Straight-line method2.5.2 Effective interest method3. Extinguishment of liabilities3.1 Bonds retired at maturity3.2 Bonds retired prior to maturity4. Bonds with equity characteristics5. Long-term notes payable5. 1 Notes payable issued for cash5. 2 Notes payable exchanged for cash and rights or privileges5.3 Notes payable exchanged for property, goods, or services5.4 Disclosure of long-term liabilitiesLesson 12 INVESTMENTS1. Investments: classification and valuation1.1 Trading securities1.2 Available-for-sale securities1.3 Held-to-maturity debt securities1.4 Definitions2. Investments in debt and equity trading securities3. Investments in available-for-sale debt and equity securities3.1 Recording initial cost3.2. Recording interest and dividend revenue3.3 Recognition of unrealized holding gains and losses3.4 Realized gains (losses) on sales of securities available-for-sale4. Investments in held-to-maturity debt securities4.1 Recording initial cost4.2 Recognition and amortization of bond premiums and discounts4.2.1 Methods4.2.1.1 Effective-interest method4.2.1.2 Straight-line method4.2.2 Premium amortization reduces investment account4.2.3 Discount amortization increases investment account4.3 Amortization for bonds acquired between interest dates4.4 Sale of investment in bonds before maturity5. Transfers and impairments5.1 Transfers of investments between categories (at fair value)5.2 Impairments6. Disclosures7. Financial statement classification8. Equity method8.1 Criteria for use8.2 Accounting procedures8.3 Financial statement disclosuresLesson 13 CONTRIBUTED CAPITAL1. Introduction2. Corporate capital structure2.1 Definitions2.2 Capital stock and stockholders' rights2.3 Basic terminology2.4 Legal capital2.5 Additional paid-in capital3. Issuance of capital stock3.1 Issuance for cash3.2. Stock issuance costs3.3 Stock subscriptions3.4 Combined sales of stock3.5 Nonmonetary issuance of stock3.6 Stock splits3.7 Stock rights to current stockholders4. Preferred stock characteristics4.1 Preference as to dividends4.2 Cumulative vs. noncumulative4.3 Participating4.4 Preference in liquidation4.5 Voting rights4.6 Disclosures5. Contributed capital section5.1 Segments5.2 Disclosure requirementsLesson 14 EARNINGS PER SHARE AND RETAINED EARNINGS1. Earnings and earnings per share2. Conceptual overview and uses of earnings per share information3. Basic earnings per share3.1 Basic earnings per share equation3.2 Numerator calculations3.2.1 Noncumulative preferred stock3.2.2 Cumulative preferred stock3.3 Denominator calculations3.4 Components of earnings per share4. Diluted earnings per share4.1 Definitions4.2 Two presentations4.2.1 Basic earnings per share4.2.2 Diluted earnings per share (DEPS)4.3 Computational steps4.4 Stock options and warrants4.5 Convertible securities4.6 Computation of tentative and final DEPS5. Content of retained earnings6. Dividends6.1 Cash dividends6.2 Property dividends6.3 Scrip dividends6.4 Stock dividends6.5 Liquidating dividends7. Prior period adjustments8. Appropriations of retained earnings9. Statement of retained earnings9.1 Prior period adjustments9.2 Net income9.3 Dividends9.4 Other deductions10. Accumulated other comprehensive incomeTeaching Arrangement1 Time allocationThe total class hour is 51, with 3 scores. Lectures in class are divided into 4 teaching units. The time allocation for each teaching unit is as follows:2 Teaching methodsThis course mainly adopts lecture in class, with the help of multimedia. We also allocates some presentations after group discussion out of classroom. It is taught either in English or in the combination of both English and Chinese.3. Exam form and requirementsAfter finishing the course, it will be tested in English, no matter the course is taught in English or in the combination of both English and Chinese. Normally , it adopts the close book test , if applied and allowed by the officers, it could be tested in other form according to the situation.The formats of the final exam paper includes multiple choice, translation both from English to Chinese and from Chinese to English , identification of true of false, case analysis writing, making journal entries, calculation, preparation of the worksheet for the financial statements , preparation of balance sheet, income statement and cash flow statements, and the analysis of the financial statements, ect.4. Scoring systemIt adopts 100% scoring system. The final score consists of 2 parts, one is the score of the final exam, the other is the score of daily performance, which including assignment, attendance and discussion performance etc. The proportion of this two parts depends on the requirement of university.Teaching Materials1. Textbook《中级会计学》（高等学校会计学类英文版教材），高等教育出版社，2005年1月第1版(Intermediate Accounting, 9E, by Loren A. Nikolai John D. Bazley)2. ReferencesA. 《中级会计学》（会计类原版教材影印系列），中国财政经济出版社，2002年11月第1版(Intermediate Accounting, 14E, by Earl Kay Stice, James D. Stice, K. Fred Skousen )B. Statements of Financial Accounting Standards, by FASBC. International Accounting Standards / International Financial Reporting StandardsD. Chinese Accounting Standards for Enterprises3. Related intenet web sitesA. FASB B. IASB C. the Nikolai and Bazley Intermediate Accounting web site ）。
中级财务会计第四章课件 中南财经 罗殿英
9
各种取得方式下存货的计价
取得方式
外购 自制 委托外单位 加工 投资者投入 盘盈
入账价值
购货价格＋附加成本(相关税费) 直接材料＋直接人工＋制造费用 加工过程中耗用的原材料和半成品 成本＋加工费＋相关税费 协议约定的价值（不公允除外） 同类或类似存货的市场价格
10
四、存货的计价——发出存货价值
（一）按实际成本核算-发出
原材料发出的核算：
借：生产成本（生产车间生产领用） 制造费用（生产车间一般性消耗领用） 管理费用（管理部门领用） 销售费用（为销售产品而领用） 其他业务成本（销售原材料） 在建工程（工程领用） 贷：原材料
31
举例
A公司2010年6月末，汇总库存材料领料 凭证，本期发出材料共30000元，其中： 产品生产领用10000元，生产车间机物 料消耗2000元，销售5000元，在建工 程领用6000元（暂不考虑增值税问 题），为销售产品领用1000元，行政 管理部门领用6000元。如何编制会计 分录？
材料采购计划成本法在途物资实际成本法原材料材料成本差异计划成本法生产成本制造费用库存商品发出商品商品进销差价商品流通企业委托加工物资包装物及低值易耗品存货跌价准备核算方法按实际成本计价核算按计划成本计价核算企业文化就是传统氛围构成的公司文化它意味着公司的价值观诸如进取守势或是灵活这些价值观构成公司员工活力意见和行为的规范
110
110 464 232 232 126 232 126
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（三）后进先出法
成本与收入配比 最近的成本与当前的收入配比
19
证 月 日号
10年 凭
摘要
收入
发出
结存
金额 200 200 330
中南财经政法大学中级财务会计04
• 4 投资
三、持有至到期投资
（一）界定与说明
•持有至到期的投资
• 主要是指债权投资。在确定其入账价值时，按重要 •性原则，将取得成本分解为面值、溢折价、应计利息、 •相关费用，并分别入账。
• 本课程主要以长期债权投资为对象讲解持有到期投资的核算。
•
• 4 投资
•（二）长期债权投资的分 类
•政府债券（政府）
到期时，摊销完毕，债券账面价值应等于债券面值。
③每期结账时，应按债券面值和利率计算本期利息，摊销溢价 或折价，并确认本期投资收益。 溢价情况下：投资收益=应计利息－溢价摊销 折价情况下：投资收益=应计利息＋折价摊销
④到期收回本息时，再冲减债券投资的账面价值和应计利息。
•
• 4 投资
•账务处理图示
购入债券时 平价购入
到期一次还本付息债券价款中包含的发行日至购买日止的利息 ■举例一（假设购入三年期、到期还本付息债券）
•● •发行 日
•2000.1. 1
•● •★
•2001.1. •购买
1
日
•尚未到期的利 息
•2001.2. 1
•●
•2002.1. 1
•
•● •到期 日
•2003.1. 1
• 4 投资
■具体情况说明二
•未摊销完的折价
•没有摊销完的溢价 •没有摊销完的债券费用
• 转股时没有到规定的计息日，应先计息，再转股。
•
• 4 投资
• 例题
• 2005年1月1日购买甲公司当日发行的可转换公司债券 •300万元，期限2年后转股。实际支付306万，其中2万元为 •税费（大），该债券一次性还本付息，年利率10％。1年后 •甲公司决定转股。请进行会计核算。
会计专业英语：第三课 Lesson Four Income Statement
Lesson Four— Exercise (g)
• g. Identify the following as selling or administrative expense items.
• 1) Sales salaries expense • 2) Office salaries expense • 3) Depreciation for delivery equipment • 4) Depreciation for office equipment • 5) Advertising expense • 6) Utilities expense • 7) Supplies expense • 8) Transportation out • 9) Rent expense
Lesson Four— Exercise
• g.
Selling Expense 1) Sales salaries expense
• 3) Depreciation for delivery equipment
• 5) Advertising expense
• 8) Transportation out
Administrative Expense 2) Office salaries expense
• 4) Depreciation for office equipment
discounts
Lesson Four— Exercise
d. Differentiate the cost of goods available for sales and cost of goods sold.
Cost of goods available for sale
中级财务会计英文ch07
Patents
Costs of purchasing patents are capitalized. Costs to research and develop patents are
expensed as incurred. Patents are amortized over the shorter of the
or loss that might result.
Intangible Assets Determination of Cost
Record at current cash equivalent cost, including purchase price, transfer, and legal fees.
5. Expected actions of competitors, regulatory bodies, and others.
Chapter 7-12
Intangible Assets Amortization of Cost
Intangible Assets With a Finite Life Are Amortized.
During use: use the matching principle to allocate cost to expense.
Chapter 7-7
At disposition: use the revenue recognition principle to record any gain
Costs classified as R&D must be expensed in the period incurred.
- SFAS No. 2
Chapter 7-9
中级财务会计(双语)第一章
Cash VS. Accrual Accounting
• Two accounting methods:
Qualitative Characteristics of Financial Reports
Relevance 相关性 Faithful representation 如实反映
Predictive Value 预测价值
Confirmatory Value 验证价值
Completeness 完整性
Objective of Financial Accounting
• The objective of financial accounting is to provide financial information about the reporting entity that is useful to present and potential equity investors, lenders, and other creditors in making decisions in their capacity as capital providers.
Financial Accounting Environment
• Providers of financial information
Profit-oriented companies Financial accounting Not-for-profit entities Governmental and nonprofit accounting
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Intermediate Accounting 4 The Income Statement and come Recognition
Elements of the Income Statement — Losses
Losses are decreases in a company’s equity (net assets) from peripheral or incidental transactions of the company and from all other events and circumstances affecting the company during a period except those that result from expenses or distributions to owners.
Intermediate Accounting 4 The Income Statement and Income Recognition
Example of Capital Maintenance
Assume a corporation has net assets of $50,000 at the beginning and $90,000 at the end of the year, and that no additional investments or withdrawals were made.
Intermediate Accounting 4 The Income Statement and Income Recognition
3. Income statement content
• • • •
Income from continuing operations Results from discontinued operations Extraordinary items (net of income taxes) Cumulative effects of changes in accounting principles (net of income taxes) Net income Earnings per share
Intermediate Accounting 4 The Income Statement and Income Recognition
Income from continuing operations
Determining Subtotals Gross profit: Revenue – Cost of goods sold Operating income: Gross profit – Operating expenses
Intermediate Accounting 4 The Income Statement and Income Recognition
Income from continuing operations
Determining Subtotals
Income from continuing operations before income taxes: Operating income + Other revenues and gain – Other expenses and losses Income from continuing operations: Income from continuing operations before income taxes – Income taxes on continuing operations
central operations.
Intermediate Accounting 4 The Income Statement and Income Recognition
Elements of the Income Statement — Gains
Gains are increases in a company’s equity (net assets) from peripheral or incidental transactions of the company and from all other events and circumstances affecting the company during a period except those that result from revenues or investments by owners.
• •
Intermediate Accounting 4 The Income Statement and Income Recognition
Income from continuing operations
Income from continuing operations summarizes the income from usual and recurring operating activities. It includes : Sales revenue (net) Cost of goods sold Operating expenses Other items Income tax expense related to continued operations
Revenues Expenses Gains Losses
Intermediate Accounting 4 The Income Statement and Income Recognition
Elements of the Income Statement — Revenues
Revenues are inflows of assets of a company or settlement of its liabilities during a period from delivering or producing goods, rendering services, or other activities that are the company’s ongoing major or central operations.
Elements of the Income Statement — Expenses
Expenses are outflows of assets of a company or incurrence of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that are the company’s ongoing major or
Intermediate Accounting 4 The Income Statement and Income Recognition
2.
Elements of the Income Statement
In FASB Statement of Concepts No. 6, the FASB defined the elements or "building blocks" of the income statement:
Intermediate Accounting 4 The Income Statement and Income Recognition
Operating Expenses
Operating expenses may be reported in two parts: 1) Selling expenses 2) General and administrative expenses
Intermediate Accounting 4 The Income Statement and Income Recognition
Sales revenue (net)
Sales revenue reports the total sales to customers for the period less any sales returns and allowances or discounts.
Ending net assets The corporation could pay Less: Additional investment Ending net assets out $40,000 to stockholders excluding investment and still Less: Beginning net assets be as well off at Total income for the year year-end. $90,000 0 $90,000 (50,000) $40,000
Intermediate Accounting 4 The Income Statement and Income Recognition
Cost of Goods Sold
Beginning inventory + Net purchases
+ Freight-in
+ Other inventory acquisition costs = Cost of goods available for sale – Ending inventory = Cost of goods sold
1.
Concepts of income
Capital Maintenance Concept
Under this concept, corporate income for a period of time is the amount that may be paid to stockholders during that period and still enable the corporation to be as well off at the end of the period as it was at the beginning.