高级财务会计 陈信元 chapter 8
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2013-7-15 1
来自百度文库
APB Opinion No. 51: full year consolidation
– income statement includes all revenues and expenses – total consolidated income LESS Preacquisition earnings Noncontrolling interest share Equals Controlling interest share
book value of equity is needed as of acquisition date
adjust the beginning value for changes before acquisition:
beginning BV equity + preacquisition revenues – preacquisition expenses – preacquisition dividends = BV equity at acquisition
FASB Statement No. 160: partial year consolidation – income statement includes revenues and expenses since acquisition – total consolidated income LESS
2013-7-15 9
P’s interest percentage increases if S purchases its stock * at BV, no change in P’s equity in S * at > BV, decrease in P’s equity in S * at < BV, increase in P’s equity in S accounting procedure * to adjust add’l PIC 2) acquisition from P P’s interest percentage decreases recognition of add’l PIC goodwill adjustment 3) illustration (p.289-290) 43. Stock dividends and stock splits by S 1) stock dividends: accounts of equity changed 2) stock splits: no change in equity accounts 3) illustration (p.291-292) 2013-7-15
sales and expenses might be assumed level 2013-7-15
3
13. Working paper entries Income from S ×× Dividends (after acquisition) ×× Investment in S ×× Preacquisition income ×× Capital stock ×× Retained earnings,beginning ×× Dividends (pre-acquisition) ×× Investment in S ×× Noncontrolling interest, beginning ×× NCI share ×× Dividends ×× Noncontrolling interest ×× 14. Illustration (p.274-277)
Noncontrolling interest share Equals Controlling interest share
In the textbook, we adopt partial year consolidation
2013-7-15 2
12. Preacquisition dividends (PD) It should also be eliminated, because they are not a part of the equity acquired. the reason for including PE & PD in the working paper entry is that subsidiary equity balances are eliminated as of the beginning of the period and the investment balance is eliminated as of the date of acquisition within the period (and thus reflects PE & PD).
accounting procedure - to adjust other PIC and investment in S equity transaction; supported by FASB Statement No.160 - to recognize gain or loss (difference betw. BV of investment sold and P’s share of the proceeds) sale of interest; once recommended by AICPA and SEC - illustration (p.288-289) 3) S sells to all existing stockholders holding percentage and equity in S unchanged no adjustment to add’l PIC 42. Treasury stock transactions by S 1) acquisition from NCI
2013-7-15 7
1) S sells to P holding percentage increases (add’l investment) - at BV, no goodwill - at > BV, goodwill created in P’s equity in S - at < BV, negative goodwill: theoretically, reduce overvalued identifiable net assets, in practice, charge to any unamortized goodwill illustration (p.287-288) 2) S sells to outsiders shares held by P unchanged, holding percentage decreases if add’l shares are issued - at BV, no change in P’s equity in S - at > BV, increase in P’s equity in S - at 2013-7-15 decrease in P’s equity in S < BV, 8
If control is maintained, the sale of subsidiary shares is treated as an equity transaction. No gains or loss is recorded, and paid-in capital is adjusted. 32. Year beginning sale 1) P’s records Cash ×× Investment in S ×× Add’l PIC ×× 2) Working paper entries income, dividends, investment elimination beginning balances elimination allocation and amortization of cost-BV differentials illustration (p.281-283)
10
Chapter 8 Changes in Ownership Interest
1. Interim Acquisition of Interests 11. Preacquisition earnings (PE) 1) concept: purchased income S’s net income prior to acquisition 2) consolidation PE should be eliminated from consolidated net income by either of two methods - partial year consolidation - full year consolidation
2013-7-15 6
33. Midyear sale 1) P’s records year beginning sale assumption - sale as of year beginning - NCI share is computed on the basis of new NCI percentage recognition at the date of sale - pre-sale income from S - investment cost sold calculation total income effect is same under two methods 2) working paper entry: the same as those in 32 3) illustration (p.283-285) 4. Changes in Ownership Interests 41. Sale of add’l shares by a subsidiary
2013-7-15 4
2. Piecemeal Acquisition 21. FMV determination at what point should FMV be determined for the S’ identifiable net assets? on the date when P obtain control of S Cost-BV dif. arising from the acquisition before P’s control of S could be considered to be goodwill 22. P’s records: same as those in Chapter 2 23. Working paper entries: same as in chapter 4 24. Illustration (p.278-279) 3. Sale of Ownership Interest 31. Accounting Procedure FASB Statement No.160 changes the rule for consolidated groups of firms: gains and losses are only recorded when a 2013-7-15 no longer holds controlling interest after the sale. parent 5
来自百度文库
APB Opinion No. 51: full year consolidation
– income statement includes all revenues and expenses – total consolidated income LESS Preacquisition earnings Noncontrolling interest share Equals Controlling interest share
book value of equity is needed as of acquisition date
adjust the beginning value for changes before acquisition:
beginning BV equity + preacquisition revenues – preacquisition expenses – preacquisition dividends = BV equity at acquisition
FASB Statement No. 160: partial year consolidation – income statement includes revenues and expenses since acquisition – total consolidated income LESS
2013-7-15 9
P’s interest percentage increases if S purchases its stock * at BV, no change in P’s equity in S * at > BV, decrease in P’s equity in S * at < BV, increase in P’s equity in S accounting procedure * to adjust add’l PIC 2) acquisition from P P’s interest percentage decreases recognition of add’l PIC goodwill adjustment 3) illustration (p.289-290) 43. Stock dividends and stock splits by S 1) stock dividends: accounts of equity changed 2) stock splits: no change in equity accounts 3) illustration (p.291-292) 2013-7-15
sales and expenses might be assumed level 2013-7-15
3
13. Working paper entries Income from S ×× Dividends (after acquisition) ×× Investment in S ×× Preacquisition income ×× Capital stock ×× Retained earnings,beginning ×× Dividends (pre-acquisition) ×× Investment in S ×× Noncontrolling interest, beginning ×× NCI share ×× Dividends ×× Noncontrolling interest ×× 14. Illustration (p.274-277)
Noncontrolling interest share Equals Controlling interest share
In the textbook, we adopt partial year consolidation
2013-7-15 2
12. Preacquisition dividends (PD) It should also be eliminated, because they are not a part of the equity acquired. the reason for including PE & PD in the working paper entry is that subsidiary equity balances are eliminated as of the beginning of the period and the investment balance is eliminated as of the date of acquisition within the period (and thus reflects PE & PD).
accounting procedure - to adjust other PIC and investment in S equity transaction; supported by FASB Statement No.160 - to recognize gain or loss (difference betw. BV of investment sold and P’s share of the proceeds) sale of interest; once recommended by AICPA and SEC - illustration (p.288-289) 3) S sells to all existing stockholders holding percentage and equity in S unchanged no adjustment to add’l PIC 42. Treasury stock transactions by S 1) acquisition from NCI
2013-7-15 7
1) S sells to P holding percentage increases (add’l investment) - at BV, no goodwill - at > BV, goodwill created in P’s equity in S - at < BV, negative goodwill: theoretically, reduce overvalued identifiable net assets, in practice, charge to any unamortized goodwill illustration (p.287-288) 2) S sells to outsiders shares held by P unchanged, holding percentage decreases if add’l shares are issued - at BV, no change in P’s equity in S - at > BV, increase in P’s equity in S - at 2013-7-15 decrease in P’s equity in S < BV, 8
If control is maintained, the sale of subsidiary shares is treated as an equity transaction. No gains or loss is recorded, and paid-in capital is adjusted. 32. Year beginning sale 1) P’s records Cash ×× Investment in S ×× Add’l PIC ×× 2) Working paper entries income, dividends, investment elimination beginning balances elimination allocation and amortization of cost-BV differentials illustration (p.281-283)
10
Chapter 8 Changes in Ownership Interest
1. Interim Acquisition of Interests 11. Preacquisition earnings (PE) 1) concept: purchased income S’s net income prior to acquisition 2) consolidation PE should be eliminated from consolidated net income by either of two methods - partial year consolidation - full year consolidation
2013-7-15 6
33. Midyear sale 1) P’s records year beginning sale assumption - sale as of year beginning - NCI share is computed on the basis of new NCI percentage recognition at the date of sale - pre-sale income from S - investment cost sold calculation total income effect is same under two methods 2) working paper entry: the same as those in 32 3) illustration (p.283-285) 4. Changes in Ownership Interests 41. Sale of add’l shares by a subsidiary
2013-7-15 4
2. Piecemeal Acquisition 21. FMV determination at what point should FMV be determined for the S’ identifiable net assets? on the date when P obtain control of S Cost-BV dif. arising from the acquisition before P’s control of S could be considered to be goodwill 22. P’s records: same as those in Chapter 2 23. Working paper entries: same as in chapter 4 24. Illustration (p.278-279) 3. Sale of Ownership Interest 31. Accounting Procedure FASB Statement No.160 changes the rule for consolidated groups of firms: gains and losses are only recorded when a 2013-7-15 no longer holds controlling interest after the sale. parent 5