大学生专业英语

Short-Term Debt

短期债务

Companies often borrow money on a short-term basis for operating purposes other than for the purchase of materials or merchandise involving accounts payable. Collectively,these obligations may be referred to as short-term debt. In most cases,such debt is evidenced by a promissory note,a formal written promise to pay a sum of money in the future,and is usually reflected on the debtor's books as Notes Payable.

公司经常短期借款用于操作以外的材料或商品的购买包括应付账款。总的来说,这些可能被称为短期债务的义务。在大多数情况下,此类债务由本票证明,一个正式的书面承诺在未来支付一笔钱,,通常反映在应付票据债务人的书。

Notes issued to trade creditors for the purchase of goods or services are called trade notes payable. Nontrade notes payable are notes issued to banks or to officers and stockholders for loans to the company and those issued to others for the purchase of nocurrent operating assets. It is normally desirable to classify current notes payable on the balance sheet as trade or nontrade,since such information would reveal on each source in financing its activities.

发行交易票据债权人购买商品或服务被称为贸易应付票据。非贸易的应付票据发行银行票据或军官和股东贷款和其他女孩发给该公司目前运营资产的购买。通常可取的分类目前应付票据在资产负债表上作为贸易或非贸易的,因为这些信息将显示在每个源融资活动。

A short-term note payable is recorded and reported at its present value,which is normally the face value of the note. This presumes that the note bears a reasonable stated rate of interest. However,if a note has no stated rate of interest,or if the stated rate is unreasonable,then the face value of the note would need to be discounted to its present value to reflect the effective rate of interest implicit in the note. This is accomplished by debiting. Discount on Notes Payable when the note is issued and by writing off the discount to Interest Expense over the life of the note in the same manner as was illustrated for the discount on notes reveivable before.

短期应付票据记录并报告其现值,这是通常的面值。这假设注意熊一个合理的利率。然而,如果报告没有规定利率,或如果规定利率是不合理的,那么的面值注意需要打折其现值,以反映有效利率隐含在注意。这是通过借。折扣应付票据发行钞票时,通过编写的贴现利息费用的生活在同样的方式作为笔记reveivable折扣说明了。

Discount on Notes Payable is a contra account to Notes Payable and would be reported on the balance sheet as fellow:

折扣应付票据是应付票据的抵销帐户和将在资产负债表上的:

Current liabilities:

流动负债:

Notes payable

应付票据

less:Discount on notes payable

少:应付票据贴现

Short-Term obligations Expected to Be Refinanced

短期债务融资

Misclassification of debt can create serious problems for users of financial statements. Since the "current"classification is reserved for those obligation that will be satisfied with current assets within a year,a short-term obligation that is expected to be refinanced on a long-term basis should not be reported as a current libility. This applies to the currently maturing portion of a long-term debt and to all other short term obligations expect those arising in the normal course of operations that are due in customary terms. Simaliarly,it should not be assumed that a short-term obligation will be refinanced,and therefore classified as a noncurrent liability,unless the refinancing arrangement are secure. Thus,to avoid potential manipulation,the refinancing expectation must be realisic and not just a mere possibility.

错误分类的债务可以创建财务报表用户的严重问题。由于“当前”分类是留给那些满意的义务流动资产在一年之内,一个短期的义务,预计将在长期的基础上再融资不应作为当前libility 报道。这适用于当前成熟的部分长期债务和短期所有其他义务预计出现在正常的操作过程中,由于惯例条款。Simaliarly,它不应该假定一个短期的义务将再融资,因此被归类为非流动负债,除非再融资协议是安全的。因此,为了避免潜在的操纵,再融资的期望必须realisic而不仅仅是一个单纯的可能性。

An example will illustrate this last point and show the importance of proper classification. Assume that a company borrows a substantial amount of money that it expects to pay back at the end of five years. The president of the company signs a sixmonth note,which the loan officer at the bank verbally agrees will be renewed'automatically"until the actual maturity date in five years. The only current obligation expected is payment of the accrued interest each renewal period. Under these circumstances,the company reports the obligation as noncurrent,except for the accrued interest obligation. Assume futher that the loan officer leaves the bank and that the new bank official will not allow the short-term note to be refinanced. The financial picture of the company is now dramatically changed. What was considered a long tern obligation because of refinancing expectation is suddenly a current liability requiring settlement with liquid asses in the near future. This hypothetical situation is similiar to what actually happened to Penn Central Railroad before it went bankrupt.