西方财务会计0.ppt
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西方财务会计原版课件09
Market = Replacement Cost Lower of Cost or Replacement Cost Loss should be recorded when loss occurs, not in the period of sale.
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•
LO 1 Describe and apply the lower-of-cost-or-market rule.
Special items
Evaluation of method
Presentation Analysis
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西方财务会计原版课件09
Lower-of-Cost-or-Market
•LCM
•A company abandons the historical cost principle when the future utility (revenue-producing ability) of the asset drops below its original cost.
•Not •<
•GAAP •LCM
•Floor = •NRV less Normal
•Profit Margin
PPT文档演模板
•
LO 1 Describe and apply the lower-of-cost-or-market rule.
西方财务会计原版课件09
Lower-of-Cost-or-Market
西方财务会计原版课件09
Lower-of-Cost-or-Market
•What is the rationale for the Ceiling and Floor limitations?
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•
LO 1 Describe and apply the lower-of-cost-or-market rule.
Special items
Evaluation of method
Presentation Analysis
PPT文档演模板
西方财务会计原版课件09
Lower-of-Cost-or-Market
•LCM
•A company abandons the historical cost principle when the future utility (revenue-producing ability) of the asset drops below its original cost.
•Not •<
•GAAP •LCM
•Floor = •NRV less Normal
•Profit Margin
PPT文档演模板
•
LO 1 Describe and apply the lower-of-cost-or-market rule.
西方财务会计原版课件09
Lower-of-Cost-or-Market
西方财务会计原版课件09
Lower-of-Cost-or-Market
•What is the rationale for the Ceiling and Floor limitations?
西方财务会计 原版课件19精品文档
Chapter
19-10 LO 1 Identify differences between pretax financial income and taxable income.
Temporary Differences
A Temporary Difference is the difference between the tax basis of an asset or liability and its reported (carrying or book) amount in the financial statements that will result in taxable amounts or deductible amounts in future years.
Illustration 19-22 Examples of Temporary Differences
Chapter
19-11 LO 2 Describe a temporary difference that results in future taxable amounts.
Future Taxable Amounts and Deferred Taxes
Chapter
19-9 LO 1 Identify differences between pretax financial income and taxable income.
Financial Reporting for 2010
Balance Sheet
Assets:
2010
Income Statent Presentation
Balance sheet Income statement Uncertain tax positions
19-10 LO 1 Identify differences between pretax financial income and taxable income.
Temporary Differences
A Temporary Difference is the difference between the tax basis of an asset or liability and its reported (carrying or book) amount in the financial statements that will result in taxable amounts or deductible amounts in future years.
Illustration 19-22 Examples of Temporary Differences
Chapter
19-11 LO 2 Describe a temporary difference that results in future taxable amounts.
Future Taxable Amounts and Deferred Taxes
Chapter
19-9 LO 1 Identify differences between pretax financial income and taxable income.
Financial Reporting for 2010
Balance Sheet
Assets:
2010
Income Statent Presentation
Balance sheet Income statement Uncertain tax positions
西方财务会计 原版课件21-文档资料
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.
Illustration 21-4
Chapter 21-12
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Accounting by the Lessee
Capitalization Criteria
Chapter 21-7
LO 1 Explain the nature, economic substance, and advantages of lease transactions.
The Leasing Environment
Conceptual Nature of a Lease
Capitalize a lease that transfers substantially all of the benefits and risks of property ownership, provided the lease is noncancelable. Leases that do not transfer substantially all the benefits and risks of ownership are operating leases.
Chapter 21-5
LO 1 Explain the nature, economic substance, and advantages of lease transactions.
Illustration 21-4
Chapter 21-12
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Accounting by the Lessee
Capitalization Criteria
Chapter 21-7
LO 1 Explain the nature, economic substance, and advantages of lease transactions.
The Leasing Environment
Conceptual Nature of a Lease
Capitalize a lease that transfers substantially all of the benefits and risks of property ownership, provided the lease is noncancelable. Leases that do not transfer substantially all the benefits and risks of ownership are operating leases.
西方财务会计 原版课件15-PPT文档资料
LO 3 Explain the accounting procedures for issuing shares of stock.
Chapter 15-6
LO 1 Discuss the characteristics of the corporate form of organization.
The Corporate Form of Organization
Capital Stock or Share System
In the absence of restrictive provisions, each share carries the following rights:
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.
Corporate Capital
Stock Issued with Other Securities
Two methods of allocating proceeds: 1. the proportional method and 2. the incremental method.
Chapter 15-15
Corporate Capital
BE15-1: KC Corporation issued 300 shares of $10 par value common stock for $4,500. Prepare KC’s journal entry.
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02 PPT资料共37页
• Assets = Liabilities + Owners’ Equity
What things the business owns
Who supplied these resources to the business and how much each group supplied
The Accounting Equation
Losses
The Accounting Equation
• The accounting equation displays that all assets are either financed by borrowing money or paying with the money of the company’s stockholders.
Intangible (like in the form of valuable rights)
Directly converted into cash ( collection of receivables)
Indirectly – used in operating the business to create other assets that result in positive cash flows (used to
A Starting Point: Statement
of Financial Position
Vagabond Travel Agency
Heading(p39)
Balance Sheet
December 31, 2007
Assets
Liabilities & Owners' Equity
What things the business owns
Who supplied these resources to the business and how much each group supplied
The Accounting Equation
Losses
The Accounting Equation
• The accounting equation displays that all assets are either financed by borrowing money or paying with the money of the company’s stockholders.
Intangible (like in the form of valuable rights)
Directly converted into cash ( collection of receivables)
Indirectly – used in operating the business to create other assets that result in positive cash flows (used to
A Starting Point: Statement
of Financial Position
Vagabond Travel Agency
Heading(p39)
Balance Sheet
December 31, 2007
Assets
Liabilities & Owners' Equity
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_Chapter647页PPT.pptx
Page 69
Debit 21,875
Credit 21,875
Accounts Receivable Method Example
Single Composite Rate Crecore, Inc. determined that the balance in the
Allowance for Doubtful Accounts should be 2.5% of Accounts Receivable. At year-end
Allowance Method
When we estimate the amount of our uncollectible receivables, we make the following adjusting entry:
GENERAL JOURNAL
Post.
Date
Description
year, whether a debit or a credit, is again adjusted to
bring the account to the proper balance when a new estimate is made.
Collecting written-off accounts
Allowance Method
As accounts become uncollectible, the following entry is made:
GENERAL JOURNAL
Post.
Date
Description
Ref.
Allowance for Doubtful Accounts
Accounts Receivable
西方财务会计 原版课件15精品文档
LO 2 Identify the key components of stockholders’ equity.
Corporate Capital
Issuance of Stock
Shares authorized - Shares sold - Shares issued
Accounting problems:
Some states require that no-par stock have a stated value.
Chapter 15-13
LO 3 Explain the accounting procedures for issuing shares of stock.
Corporate Capital
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 15-1
C H A P T E R 15
STOCKHOLDERS’ EQUITY
Intermediate Accounting 13th Edition
Kieso, Weygandt, and Warfield
Chapter 15-2
Learning Objectives
1. Discuss the characteristics of the corporate form of organization.
西方财务会计 原版课件21精品文档
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
Accounting by the Lessee
Lease Agreement
Leases that DO NOT meet any of the four criteria are accounted for as Operating Leases.
Transfer of Ownership Test
Not controversial and easily implemented.
Bargain-Purchase Option Test
At the inception of the lease, the difference between the option price and the expected fair market value must be large enough to make exercise of the option reasonably assured.
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.
Chapter 21-13
LO 2 Describe the accounting criteria and procedures for capitalizing leases by the lessee.
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》PPT课件
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 balance sheet at their
• 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
very stable market value,and mature within 90 days of the date of acquisition.
Cash controlling
• Cash receipts • Cash payments • Cash balance
Controlling Cash Receipts
Why should a business control
cash?(summary of textbook)
• To ensure that sufficient cash is available when needed and that too much cash is not idle, managers must plan and control carefully the cash needs of the business. In addition, because cash is universally desirable, a good business must maintain careful control over its cash to ensure that it is not lost through fraud or embezzlement.
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 balance sheet at their
• 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
very stable market value,and mature within 90 days of the date of acquisition.
Cash controlling
• Cash receipts • Cash payments • Cash balance
Controlling Cash Receipts
Why should a business control
cash?(summary of textbook)
• To ensure that sufficient cash is available when needed and that too much cash is not idle, managers must plan and control carefully the cash needs of the business. In addition, because cash is universally desirable, a good business must maintain careful control over its cash to ensure that it is not lost through fraud or embezzlement.
《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
西方财务会计课件 (1)
Level II. Basic Elements And Qualitative Characteristics of Accounting information
(i) Elements in Financial Statements
Revenues: Inflows from entity’s ongoing operations Expenses: Outflows from entity’s ongoing operations Gains: Increases in equity from incidental transactions Losses: Decreases in equity from incidental
西方财务会计
WESTERN FINANCIAL ACCOUNTING
Chapter 1
The Financial Accounting Conceptual Framework And The Accounting Equation
1.1 ACCOUNTING
A service activity ---- Provide useful information about economic entities to interested parties And a measurement-communication activity---The usefulness of accounting information depends on effective measurement of the economic activities and effective communication of those measurements to users of that information.
西方财务会计.ppt
Gains and losses
Losses: decrease in equity from incidental or peripheral transactions not associated with the company’s major or central lines of business,e.g. loss from disposal of fixed asset.
西方财务会计
WESTERN FINANCIAL ACCOUNTING
Chapter 1
The Financial Accounting Conceptual Framework And The Accounting Equation
1.1 ACCOUNTING
A service activity ---- Provide useful information about economic entities to interested parties
When revenues exceed expenses, net income results.
When expenses exceed revenues, a net loss results.
Gains and losses(con.)
Gains: increase in equity from incidental or peripheral transactions not associated with the company’s major or central lines of business, e.g. gain from disposal of fixed asset.
They are the cost of assets consumed or services used in the process of earning revenue.
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• Assets = Liabilities + Owners’ Equity
What things the business owns
Who supplied these resources to the business and how much each group supplied
The Accounting Equation
Losses
The Accounting Equation
• The accounting equation displays that all assets are either financed by borrowing money or paying with the money of the company’s stockholders.
$ 300,000 Total
$ 300,000
operations.
Assets
Assets
Resources
Generate Positive Cash Flows (Cash Inflows)
A summary of p40
Tangible (have physical existence)
Cash Land
Overnight Auto Service
Balance Sheet
January 20, 2009
Assets
Owners' Equity
$ 28,000 Capital Stock
$ 80,000
52,000
Total
$ 80,000 Total
$ 80,000
On Jan 22, Overnight purchased the abandoned bus garage for $36 000. Overnight made a cash down payment of $6 000 and issued a 90-day non- interest –bearing note payable for the $30 000 balance owned.
We will use a corporation to describe these statements.
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Describes where the enterprise stands at a specific date.
Body (p39)
Assets
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Assets Cash Notes receivable
Assets are Liabilities & Owners' Equity
$ 22,500 Liabilities:
Overnight Auto Service p44
• Business entity: Overnight Auto Service
• Accounting policies:
– Prepare formal financial statements
On Jan 21, McBryan and his family invested $8,000 in Overnight Auto Service and received
Notes redceeivbatbsle that 10,000
Accounts receivable 60,500
Srueppplrieessent negat2i,v00e0
Notes payable Accounts payable Salaries payable
$ 41,000 36,000 3,000
$ 22,500 Liabilities:
Notes receivable
10,000 Notes payable
$ 41,000
Accounts receivable 60,500 Accounts payable
36,000
Supplies
2,000 Salaries payable
3,000
Land
Building
90,000 Owners' Equity
Office equipment
15,000 Capital stock
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
P41 Your Turn
• Would there be any different motivation when you report the value of your home to the city assessor, when comparing with when reporting to the potential buyers?
A Starting Point: Statement
of Financial Position
Vagabond Travel Agency
Heading(p39)
Balance Sheet
December 31, 2007
Assets
Liabilities & Owners' Equity
Cash
Notes receivable
10,000 Notes payable
$ 41,000
Accounts receivable 60,500 Accounts payable
36,000
Supplies
2,000 Salaries payable
3,000
Land
100,000
Total liabilities $ 80,000
$ 41,000 36,000 3,000
the assets of the Land
Building
100,000
Total liabilities
90,000 Owners' Equity:
$ 80,000
business. Office equipment
15,000 Capital stock
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Depicts the revenue and expenses for a designated period of time.
800 shares of stock.
Cash
Overnight Auto Service
Balance Sheet
January 20, 2009
Assets
Owners' Equity
$ 8,000 Capital Stock
$
8,000
Total
$ 8,000 Total
$ 8,000
On Jan 20, Overnight Auto Service purchased the land for $52 000 cash.
100,000
Total liabilities $ 80,000
Building
90,000 Owners' Equity:
Office equipment
15,000 Capital stock
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
Chapter 2 Basic Financial Statements
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Three primary financial
statements.
Objectivity Principle
Liabilities
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Liabilities are Cash
Assets
Liabilities & Owners' Equity
$ 22,500 Liabilities:
150,000
Retained earnings
70,000
$ 300,000
Owners’ Equity
Changes in Owners’ Equity
•Owners’ Investments
•Business Earnings
•Payments to Owners •Business
future cash flows Land
Building
100,000
Total liabilities
90,000 Owners' Equity:
$ 80,000
Offfoicre etqhueipmeenntterpri1s5,e00.0 Capital stock
150,000
Retained earnings
produce the products for sale)
What things the business owns
Who supplied these resources to the business and how much each group supplied
The Accounting Equation
Losses
The Accounting Equation
• The accounting equation displays that all assets are either financed by borrowing money or paying with the money of the company’s stockholders.
$ 300,000 Total
$ 300,000
operations.
Assets
Assets
Resources
Generate Positive Cash Flows (Cash Inflows)
A summary of p40
Tangible (have physical existence)
Cash Land
Overnight Auto Service
Balance Sheet
January 20, 2009
Assets
Owners' Equity
$ 28,000 Capital Stock
$ 80,000
52,000
Total
$ 80,000 Total
$ 80,000
On Jan 22, Overnight purchased the abandoned bus garage for $36 000. Overnight made a cash down payment of $6 000 and issued a 90-day non- interest –bearing note payable for the $30 000 balance owned.
We will use a corporation to describe these statements.
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Describes where the enterprise stands at a specific date.
Body (p39)
Assets
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Assets Cash Notes receivable
Assets are Liabilities & Owners' Equity
$ 22,500 Liabilities:
Overnight Auto Service p44
• Business entity: Overnight Auto Service
• Accounting policies:
– Prepare formal financial statements
On Jan 21, McBryan and his family invested $8,000 in Overnight Auto Service and received
Notes redceeivbatbsle that 10,000
Accounts receivable 60,500
Srueppplrieessent negat2i,v00e0
Notes payable Accounts payable Salaries payable
$ 41,000 36,000 3,000
$ 22,500 Liabilities:
Notes receivable
10,000 Notes payable
$ 41,000
Accounts receivable 60,500 Accounts payable
36,000
Supplies
2,000 Salaries payable
3,000
Land
Building
90,000 Owners' Equity
Office equipment
15,000 Capital stock
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
P41 Your Turn
• Would there be any different motivation when you report the value of your home to the city assessor, when comparing with when reporting to the potential buyers?
A Starting Point: Statement
of Financial Position
Vagabond Travel Agency
Heading(p39)
Balance Sheet
December 31, 2007
Assets
Liabilities & Owners' Equity
Cash
Notes receivable
10,000 Notes payable
$ 41,000
Accounts receivable 60,500 Accounts payable
36,000
Supplies
2,000 Salaries payable
3,000
Land
100,000
Total liabilities $ 80,000
$ 41,000 36,000 3,000
the assets of the Land
Building
100,000
Total liabilities
90,000 Owners' Equity:
$ 80,000
business. Office equipment
15,000 Capital stock
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Depicts the revenue and expenses for a designated period of time.
800 shares of stock.
Cash
Overnight Auto Service
Balance Sheet
January 20, 2009
Assets
Owners' Equity
$ 8,000 Capital Stock
$
8,000
Total
$ 8,000 Total
$ 8,000
On Jan 20, Overnight Auto Service purchased the land for $52 000 cash.
100,000
Total liabilities $ 80,000
Building
90,000 Owners' Equity:
Office equipment
15,000 Capital stock
150,000
Retained earnings
70,000
Total
$ 300,000 Total
$ 300,000
Chapter 2 Basic Financial Statements
Introduction to Financial Statements
Balance Sheet
Income Statement
Statement of Cash Flows
Three primary financial
statements.
Objectivity Principle
Liabilities
Vagabond Travel Agency
Balance Sheet
December 31, 2007
Liabilities are Cash
Assets
Liabilities & Owners' Equity
$ 22,500 Liabilities:
150,000
Retained earnings
70,000
$ 300,000
Owners’ Equity
Changes in Owners’ Equity
•Owners’ Investments
•Business Earnings
•Payments to Owners •Business
future cash flows Land
Building
100,000
Total liabilities
90,000 Owners' Equity:
$ 80,000
Offfoicre etqhueipmeenntterpri1s5,e00.0 Capital stock
150,000
Retained earnings
produce the products for sale)