西方财务会计8PPT课件
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西方财务会计_chapter866页PPT.pptx
first payment due on May 1, 2004. The note is noninterestbearing. The prevailing market rate of interest on notes of this kind is 12%. Prepare the required journal entries on May 1, 2003(year-end). The useful life of the equipment was estimated
15
After updating the depreciation, the machine’s book value on September
30, 2005, is:
a. $54,000.
b. $46,000.
c. $40,000.
d. $60,000.
Cost Accumulated Depreciation:
2
Valuation of plant assets at acquisition
For one piece: reasonable and necessary expenditure For lump-sum purchase:allocating to the various assets purchased according their fair market value. Plant assets can be acquired with long-term notes payable. (In
7
Acquisition of plant assets with note payable
In such situation, in order to be in accordance with the cost principle, the recorded cost of an asset purchased on credit is based on one of the following, whichever is more objective and reliable: (1) the cash equivalent price (market value) and (2) the present value of the future cash payments required by the debt agreement discounted at the prevailing (market) interest rate for that type of debt.
15
After updating the depreciation, the machine’s book value on September
30, 2005, is:
a. $54,000.
b. $46,000.
c. $40,000.
d. $60,000.
Cost Accumulated Depreciation:
2
Valuation of plant assets at acquisition
For one piece: reasonable and necessary expenditure For lump-sum purchase:allocating to the various assets purchased according their fair market value. Plant assets can be acquired with long-term notes payable. (In
7
Acquisition of plant assets with note payable
In such situation, in order to be in accordance with the cost principle, the recorded cost of an asset purchased on credit is based on one of the following, whichever is more objective and reliable: (1) the cash equivalent price (market value) and (2) the present value of the future cash payments required by the debt agreement discounted at the prevailing (market) interest rate for that type of debt.
西方财务会计PPT课件
二、在不同条件下商品购入和商品销售的帐务处理 （1）购货与销货的记录：购货方须运用“购货”帐户，销货方需运用
“销货”帐户； （2）退货及折让货款的记录：购货方须运用“购货退还及折让”，销
货方需运用“销货退回及折让”帐户； （3）运费的记录：不同条件下，有这不同的帐务处理方法； （4）付款和收款的记录：应用“应付帐款”、“应收帐款”、“现金”
第五章 商业帐款与商业票据 要求：
熟练地掌握应收与应付帐款、应收与应付 票据的帐务处理。 重点： 1、应收帐款坏帐损失的计提； 2、应收、应付票据及其贴现的帐务处理。
一、商业帐款的帐务处理
在第三章论述商品购销业务的帐务处理程序时，已同时说明了应收、应 付帐款的帐务处理程序，因此，在本章中，只是对应收帐款帐务处 理中的特殊问题加以论述，包括坏帐损失、分期收款销货。
第六章 存货 要求：
熟练地掌握存货发出的计价方法和期末存 货计价中成本与市价孰低规则的应用。 重点： 1、各种存货发出计价方法及其适用性； 2、成本与市价孰低规则的应用。
一、存货帐务处理的基本程序 1、存货的定义及范围。 2、存货成本的构成。 3、存货内部控制的基本原则。 4、定期盘存制与永续盘存制下存货的帐务处理： 定期盘存制和永续盘存制含义；定期盘存制与永续盘存制下购货和销货
2、资产负债表的会计恒等式 资产=负债+业主权益 收益表的关系式：收益—费用＝净收益
因为业主权益的变动时有以下两个所引起的： （1）投资与派得；（2）企业的净收益， 所以，对会计恒等式中业主权益这一要素也可以表达成：
业主权益＝业主出资＋净收益－业主派得
四、财务报表的基本形式
资产负债表、收益表、业主权益表三个报表实际上都是上述三个关系 式的展开。
西方财务会计 原版课件15
Journal entry:
a. Cash Common stock
8,200 8,200
b.
Chapter 15-14
Cash Common stock (600 x $2) Additional paid-in capital
8,200
1,200 7,000
LO 3 Explain the accounting procedures for issuing shares of stock.
Chapter 15-8
LO 1 Discuss the characteristics of the corporate form of organization.
Corporate Capital
Contributed Capital
Two Primary Sources of
Equity
Chapter 15-9
Chapter 15-4
The Corporate Form of Organization
Three primary forms of business organization
Proprietorship Partnership
Corporation
Special characteristics of the corporate form:
Preferred stock is created by contract, when stockholders’ sacrifice certain rights in return for other rights or privileges, usually dividend preference.
BE15-2: Swarten Corporation issued 600 shares of nopar common stock for $8,200. Prepare Swarten’s journal entry if (a) the stock has no stated value, and (b) the stock has a stated value of $2 per share.
西方财务会计4-PPT精品文档47页
accounts
5 Division of labor in posting
One employee posts to the general ledger Another employee posts to the subsidiary ledger
03.12.2019
11
CONTROL ACCOUNT
In addition to four special journals,a general journal (J) is used for recording transactions that not fit into four special journals.
It is also used to record adjusting and closing entries.
Control account
General Ledger account which summarizes subsidiary ledger data
Subsidiary Ledger
general ledger control account balance equals the composite balance of the individual accounts in the subsidiary ledger
Date
Account Debited
PR
Feb. 1 2 12 24
A.Anderson B.Butler C.Chase D.Davis
S-1
Amount
$400
700
250
800
$2,150
2
(12)(41)
3
Accounts Rec
5 Division of labor in posting
One employee posts to the general ledger Another employee posts to the subsidiary ledger
03.12.2019
11
CONTROL ACCOUNT
In addition to four special journals,a general journal (J) is used for recording transactions that not fit into four special journals.
It is also used to record adjusting and closing entries.
Control account
General Ledger account which summarizes subsidiary ledger data
Subsidiary Ledger
general ledger control account balance equals the composite balance of the individual accounts in the subsidiary ledger
Date
Account Debited
PR
Feb. 1 2 12 24
A.Anderson B.Butler C.Chase D.Davis
S-1
Amount
$400
700
250
800
$2,150
2
(12)(41)
3
Accounts Rec
西方财务会计1-PPT文档资料29页
Page 14
Types of Accounting Information
1Financial Accounting
- Provides data for external users
- Is required by SEC/FASB - Is subject to GAAP - Must generate accurate
and timely data - Emphasizes the past - Look at the business as a
whole - Primarily stands by itself
2Management Accounting
- Provides data for internal users - Is not mandated by SEC/FASB - Is not subject to GAAP - Emphasizes relevance and
Eyeing the man in the balloon the passer by says: "You are in a downed balloon in a farmer's field.”
"You must be an accountant, sir," replied the balloon's unhappy resident.
- Provides data for external users
- Is required by SEC/FASB - Is subject to GAAP - Must generate accurate
and timely data - Emphasizes the past - Look at the business as a
西方财务会计培训教程(英文版)PPT课件( 68页)
the same class—called the preemptive right.
LO 1 Discuss the characteristics of the corporate form of organization.
The Corporate Form of Organization
Variety of Ownership Interests
Corporate Capital
No-Par Stock
Reasons for issuance: Avoids contingent liability. Avoids confusion over recording par value versus fair market value.
Some states require that no-par stock have a stated value.
Corporate Capital
Stock Issued with Other Securities
Two methods of allocating proceeds: 1. the proportional method and 2. the incremental method.
LO 3 Explain the accounting procedures for issuing shares of stock.
The Corporate Form of Organization
State Corporate Law
Corporation must submit articles of incorporation to the state in which incorporation is desired.
LO 1 Discuss the characteristics of the corporate form of organization.
The Corporate Form of Organization
Variety of Ownership Interests
Corporate Capital
No-Par Stock
Reasons for issuance: Avoids contingent liability. Avoids confusion over recording par value versus fair market value.
Some states require that no-par stock have a stated value.
Corporate Capital
Stock Issued with Other Securities
Two methods of allocating proceeds: 1. the proportional method and 2. the incremental method.
LO 3 Explain the accounting procedures for issuing shares of stock.
The Corporate Form of Organization
State Corporate Law
Corporation must submit articles of incorporation to the state in which incorporation is desired.
西方财务15.ppt
Indirect method:A format of reporting net cash flow from operating activities that reconciles this figure with the amount of net income shown in the income statement.
With the help of the statement of cash flows we can get some important information about the problem listed below:
Where did the cash come from?
What was the cash used for?
Operating
Cash inflows From sale Of goods or services． From returns on loans(interest) and on equity securities(dividends) Cash outflows TO suppliers for inventory． TO employees for services． TO government for taxes， T0 lenders for interest， TO others for expenses，
Determine cash provided by operations
Determine cash from investing and financing activities
Illustration (textbook)
Determine cash provided by operations
With the help of the statement of cash flows we can get some important information about the problem listed below:
Where did the cash come from?
What was the cash used for?
Operating
Cash inflows From sale Of goods or services． From returns on loans(interest) and on equity securities(dividends) Cash outflows TO suppliers for inventory． TO employees for services． TO government for taxes， T0 lenders for interest， TO others for expenses，
Determine cash provided by operations
Determine cash from investing and financing activities
Illustration (textbook)
Determine cash provided by operations
西方财务会计 原版20PPT课件
Chapter 20-1
C H A P T E R 20
ACCOUNTING FOR PENSIONS AND POSTRETIREMENT BENEFITS
Intermediate Accounting 13th Edition
Kieso, Weygandt, and Warfield
Chapter 20-2
Nature of Pension Plans
Some pension plans are:
Contributory: employees voluntarily make payments to increase their benefits. Noncontributory: employer bears the entire cost. Qualified pension plans: offer tax benefits.
statements.
Chapter 20-3
Accounting for Pensions and Postretirement Benefits
Nature of Pension Plans
Defined contribution plan Defined-benefit plan Role of actuaries
gains and losses. 8. Explain the corridor approach to amortizing unrecognized gains
and losses. 9. Describe the requirements for reporting pension plans in financial
Defined-Benefit Plan
C H A P T E R 20
ACCOUNTING FOR PENSIONS AND POSTRETIREMENT BENEFITS
Intermediate Accounting 13th Edition
Kieso, Weygandt, and Warfield
Chapter 20-2
Nature of Pension Plans
Some pension plans are:
Contributory: employees voluntarily make payments to increase their benefits. Noncontributory: employer bears the entire cost. Qualified pension plans: offer tax benefits.
statements.
Chapter 20-3
Accounting for Pensions and Postretirement Benefits
Nature of Pension Plans
Defined contribution plan Defined-benefit plan Role of actuaries
gains and losses. 8. Explain the corridor approach to amortizing unrecognized gains
and losses. 9. Describe the requirements for reporting pension plans in financial
Defined-Benefit Plan
《西方财务会计》 (2)幻灯片PPT
Depicts the revenue and expenses for a designated period of time.
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
$ 41,000 36,000
Supplies
2,000 Salaries payable
3,000
Land
100,000
Total liabilities $ 80,000
Building
90,000 Owners' Equity:
Office equipment
15,000 Capital stock
A summary of p40
Tangible (have physical existence)
Intangible (like in the form of valuable rights)
Directly converted into cash ( collection of receivables)
Depicts the ways cash has changed during a designated period of time.
A Starting Point:
Statement of Financial
Position
Vagabond Travel Agency Balance Sheet
Cash Land
Overnight Auto Service
Balance Sheet
January 20, 2009
西方财务会计 原版课件21
accounting problems. 7. Describe the effect of residual values, guaranteed and unguaranteed, on
lease accounting. 8. Describe the lessor’s accounting for sales-type leases. 9. List the disclosure requirements for leases.
Chapter 21-4
Accounting by Lessor
Economics of leasing Classification Direct-financing method Operating method
Special Accounting Problems
Residual values Sales-type leases Bargainpurchase option Initial direct costs Current versus noncurrent Disclosure Unresolved problems
The Leasing Environment
A lease is a contractual agreement between a lessor and a lessee, that gives the lessee the right to use specific property, owned by the lessor, for a specified period of time.
The Leasing Environment
Advantages of Leasing
1. 100% Financing at Fixed Rates. 2. Protection Against Obsolescence. 3. Flexibility. 4. Less Costly Financing. 5. Tax Advantages. 6. Off-Balance-Sheet Financing.
lease accounting. 8. Describe the lessor’s accounting for sales-type leases. 9. List the disclosure requirements for leases.
Chapter 21-4
Accounting by Lessor
Economics of leasing Classification Direct-financing method Operating method
Special Accounting Problems
Residual values Sales-type leases Bargainpurchase option Initial direct costs Current versus noncurrent Disclosure Unresolved problems
The Leasing Environment
A lease is a contractual agreement between a lessor and a lessee, that gives the lessee the right to use specific property, owned by the lessor, for a specified period of time.
The Leasing Environment
Advantages of Leasing
1. 100% Financing at Fixed Rates. 2. Protection Against Obsolescence. 3. Flexibility. 4. Less Costly Financing. 5. Tax Advantages. 6. Off-Balance-Sheet Financing.
西方财务会计 原版课件21
4. The present value of the minimum lease payments (excluding executory costs) equals or exceeds 90 percent of the fair value of the leased property.
Chapter 21-11
Operating Lease
Journal Entry: Rent expense xxx
Cash
xxx
Capital Lease
Journal Entry: Leased equipment xxx
Lease liability
xxx
A lease that transfers substantially all of the benefits and risks of property ownership should be capitalized (only noncancellable leases may be capitalized).
Largest group of leased equipment involves: Information technology Transportation (trucks, aircraft, rail) Construction Agriculture
Chapter 21-5
LO 1 Explain the nature, economic substance, and advantages of lease transactions.
The Leasing Environment
Advantages of Leasing
1. 100% Financing at Fixed Rates. 2. Protection Against Obsolescence. 3. Flexibility. 4. Less Costly Financing. 5. Tax Advantages. 6. Off-Balance-Sheet Financing.
Chapter 21-11
Operating Lease
Journal Entry: Rent expense xxx
Cash
xxx
Capital Lease
Journal Entry: Leased equipment xxx
Lease liability
xxx
A lease that transfers substantially all of the benefits and risks of property ownership should be capitalized (only noncancellable leases may be capitalized).
Largest group of leased equipment involves: Information technology Transportation (trucks, aircraft, rail) Construction Agriculture
Chapter 21-5
LO 1 Explain the nature, economic substance, and advantages of lease transactions.
The Leasing Environment
Advantages of Leasing
1. 100% Financing at Fixed Rates. 2. Protection Against Obsolescence. 3. Flexibility. 4. Less Costly Financing. 5. Tax Advantages. 6. Off-Balance-Sheet Financing.
西方财务会计539页PPT
Cash Equivalents
Combined with cash account in the B/S. Cash equivalents include some very liquid
short-term investments Cash equivalents are very safe, have very
The current value of short-term investments (marketable securities) is current market value. (represents an exception to the cost principle)
The current value of accounts receivable is Net realizable value.
CHAPTER 5
CASH AND ITS CONTROL
Introduction(cont.)
Cash is one of financial assets. Financial assets include cash,short-term
investments and receivables. Financial assets are shown in the
1. All receipts should be banked promptly. 2. Receipts from cash sales should be
supported by sales tickets, cash register tapes, and so on. 3. Accountability should be established each time when cash is transferred. 4. Persons receiving cash should not make disbursements of cash, record cash transactions, or reconcile bank accounts.
西方财务会计 原版课件19
Revenues:
2010
Liabilities:
Deferred taxes Income tax payable
Equity:
12,000 16,000
Expenses:
Income tax expense 28,000
Net income (loss)
Where does the “deferred tax liability” get reported in the financial statements?
Future Deductible Amounts
Deferred Tax Asset represents the increase in taxes refundable (or saved) in future years as a result of deductible temporary differences existing at the end of the current year.
Illustration: In KRC’s situation, the only difference between the book basis and tax basis of the assets and liabilities relates to accounts receivable that arose from revenue recognized for book purposes. KRC reports accounts receivable at $30,000 in the December 31, 2010, GAAP-basis balance sheet. However, the receivables have a zero tax basis.
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Compute the cost of Heat Co.’s new machine.
6
Determining Cost
List price Salestax@8% Transportationcost Set-up Testing
Total costtoHeatCo.
Date
Description
9
Acquisition of plant assets with note payable
Example: on May 1,2003,Fesler, Inc. purchased equipment paying $3000 down and issuing a note payable. The note required four annual payments of $2500 with the first payment due on May 1, 2004. The note is noninterest-bearing. The prevailing market rate of interest on notes of this kind is 12%. Prepare the required journal entries on May 1, 2003(year-end). The useful life of the equipment was estimated 10 years and no salvage value.
payable. (In such case, assets are recorded at the present value of the consideration exchangn:one piece
Cost
Asset
price
=
+
Reasonable and necessary costs . . .
2
Accounting for plant assets
Acquisition Disposal(discard,sell,exchange) Depreciation
3
Valuation of plant assets at acquisition
For one piece: reasonable and necessary expenditure For lump-sum purchase:allocating to the various assets purchased according their fair market value. Plant assets can be acquired with long-term notes
8
Acquisition of plant assets with note payable
In such situation, in order to be in accordance with the cost principle, the recorded cost of an asset purchased on credit is based on one of the following, whichever is more objective and reliable: (1) the cash equivalent price (market value) and (2) the present value of the future cash payments required by the debt agreement discounted at the prevailing (market) interest rate for that type of debt.
. . . for getting the asset to the desired location.
. . . for getting the asset ready
for use.
5
Determining Cost
On May 4, Heat Co., an Ohio maker of stoves, buys a new machine from a Texas company. The new machine has a price of $52,000. Sales tax was computed at 8%.
Relative Market Valuation
A way of allocating a basket purchase price to the individual assets acquired based on their respective market values.(example:page 166)
Heat Co. pays $500 shipping cost to get the machine to Ohio. After the machine arrives, set-up costs of $1,300 are incurred, along with $4,000 in testing costs.
Chapter 8
PLANT ASSETS
1
INTRODUCTION
Noncurrent tangible assets. Acquired for use in the operation of the business. The accounts that make up plant assets appear on the balance sheet after current assets and long-term investments. Other titles for plant assets are fixed assets;property and equipment; and property,plant,and equipment. Plant assets should be expected to last for more than one accounting period. Plant assets are usually depreciable property except for land. Examples:land,buildings,office machines……
May 4 New Machine
Cash
$ 52,000 4,160 500 1,300 4,000
$ 61,960
Debit
61,960
Credit
61,960
7
Lump-Sum (or Basket) Purchases of Assets
Basket Purchase
The purchase of two or more assets acquired together at a single price.
6
Determining Cost
List price Salestax@8% Transportationcost Set-up Testing
Total costtoHeatCo.
Date
Description
9
Acquisition of plant assets with note payable
Example: on May 1,2003,Fesler, Inc. purchased equipment paying $3000 down and issuing a note payable. The note required four annual payments of $2500 with the first payment due on May 1, 2004. The note is noninterest-bearing. The prevailing market rate of interest on notes of this kind is 12%. Prepare the required journal entries on May 1, 2003(year-end). The useful life of the equipment was estimated 10 years and no salvage value.
payable. (In such case, assets are recorded at the present value of the consideration exchangn:one piece
Cost
Asset
price
=
+
Reasonable and necessary costs . . .
2
Accounting for plant assets
Acquisition Disposal(discard,sell,exchange) Depreciation
3
Valuation of plant assets at acquisition
For one piece: reasonable and necessary expenditure For lump-sum purchase:allocating to the various assets purchased according their fair market value. Plant assets can be acquired with long-term notes
8
Acquisition of plant assets with note payable
In such situation, in order to be in accordance with the cost principle, the recorded cost of an asset purchased on credit is based on one of the following, whichever is more objective and reliable: (1) the cash equivalent price (market value) and (2) the present value of the future cash payments required by the debt agreement discounted at the prevailing (market) interest rate for that type of debt.
. . . for getting the asset to the desired location.
. . . for getting the asset ready
for use.
5
Determining Cost
On May 4, Heat Co., an Ohio maker of stoves, buys a new machine from a Texas company. The new machine has a price of $52,000. Sales tax was computed at 8%.
Relative Market Valuation
A way of allocating a basket purchase price to the individual assets acquired based on their respective market values.(example:page 166)
Heat Co. pays $500 shipping cost to get the machine to Ohio. After the machine arrives, set-up costs of $1,300 are incurred, along with $4,000 in testing costs.
Chapter 8
PLANT ASSETS
1
INTRODUCTION
Noncurrent tangible assets. Acquired for use in the operation of the business. The accounts that make up plant assets appear on the balance sheet after current assets and long-term investments. Other titles for plant assets are fixed assets;property and equipment; and property,plant,and equipment. Plant assets should be expected to last for more than one accounting period. Plant assets are usually depreciable property except for land. Examples:land,buildings,office machines……
May 4 New Machine
Cash
$ 52,000 4,160 500 1,300 4,000
$ 61,960
Debit
61,960
Credit
61,960
7
Lump-Sum (or Basket) Purchases of Assets
Basket Purchase
The purchase of two or more assets acquired together at a single price.