美国会计准则与国际会计准则比较摘录

paragraph IAS U.S. GAAP1 The objective of this Standard is to provide guidance on the determination of cost and its subsequent recognition as an expense, including any write-down to net realisable value. It also provides guidance on the cost formulas that are used to assign costs to inventoriesDifferent:In 330-10-10-1,the objective of accounting for inventories is the proper determination of income through the process of matching appropriate costs against revenues.2 This Standard does not apply to inventory which is(a) work in progress arising under construction contracts;(b) financial instruments ; (c) biological assets related to agricultural activity and agriculturalproduce at the point of harvest.Different:The guidance in this Topic is not necessarily applicable to the Not-for-profit entities and Regulated utilities.3 This Standard does not apply to the measurement of inventories held by:(a) producers of agricultural and forest products, agricultural produce after harvest, and minerals and mineral products(b) commodity broker-traders who measure their inventories at fair valueless costs to sell.Same:In the 330-10-20:“Inventory The aggregate of those items of tangible personal property that have any of the following characteristics:a. Held for sale in the ordinary course of business b. In process of production for such sale c. To be currently consumed in the production of goods or services to be available for sale.” 4 The inventories referred to in paragraph 3(a) are measured at net realisable value at certain stages of production. For example, when agricultural crops have been harvested or minerals have been extracted and sale is assured under a forward contract or a government guarantee, or when an active market exists and there is a Same:In 905-330-25-01“All direct and indirect costs of growing crops shall be accumulated until the time of harvest. Some crop costs, such as soil preparation, are incurred before planting and shall be deferred and allocated to the growing crop.“negligible risk of failure to sell. These inventories are excluded from only the measurement requirements of this Standard5 Broker-traders are those who buy or sell commodities for others or on their own account. The inventories referred to in paragraph 3(b) are principally acquired with the purpose of selling in the near future and generating a profit from fluctuations in price or broker-traders margin. When these inventories are measured at fair value less costs to sell, they are excluded from only the measurement requirements of this Standard.The same as 940-20-05-03“Acting as an agent, a broker-dealer may buy and sell securities on behalf of its customers. In return for such services, the broker-dealer charges a commission. Each time a customer enters into a buy or sell transaction, a commission is earned by the broker-dealer for its selling and administrative efforts.”6 Inventories are assets:(a) held for sale in the ordinary course of business;(b) in the process of production for such sale; or(c) in the form of materials or supplies to be consumed in theproduction process or in the rendering of services.The same as 330-10-20 Glossary.“The aggregate of those items of tangible personal property that have any of the following characteristics:a. Held for sale in the ordinary course of business b. In process of production for such sale c. To be currently consumed in the production of goods or services to be available for sale. “7 Net realisable value is the net amount that an entity expects to realise from the sale of inventory in the ordinary course of business. Fair value reflects the price at which an orderly transaction to sell the same inventory in the principal market for that inventory would take place between market participants at the measurement Different:In Master Glossary , the net realizable value is a estimated selling prices less reasonably predictable costs of completion, disposal, and transportation.Same:In Master Glossary, the fair value is :The price that would be date. received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.8 Inventories encompass goods purchased and held for resale including, also encompass finished goods produced, or work in progress being produced, by the entity and include materials and supplies awaiting use in the production process. Is same as 330-10-20 Glossary.“The term inventory embraces goods awaiting sale (the merchandise of a trading concern and the finished goods of a manufacturer), goods in the course of production (work in process), and goods to be consumed directly or indirectly in production (raw materials and supplies). This definition of inventories excludes long-term assets subject to depreciation accounting, or goods which, when put into use, will be so classified. The fact that a depreciable asset is retired from regular use and held for sale does not indicate that the item should be classified as part of the inventory. Raw materials and supplies purchased for production may be used or consumed for the construction of long-term assets or other purposes not related to production, but the fact that inventory items representing a small portion of the total may not be absorbed ultimately in the production process does not require separate classification. By trade practice, operating materials and supplies of certain types of entities such as oil producers are usually treated as inventory.”9 Inventories shall be measured at the lower of cost and net realisableDifferent:In 330-20-35, the inventory cost value. shall be adjust to lower of cost or market. The Market shall not exceed the net realizable value nor less than net realizable value reduced by an allowance for an approximately normal profit margin.10 The cost of inventories shall comprise all costs of purchase, costs ofconversion and other costs incurred in bringing the inventories to theirpresent location and condition.Same as 330-10-30-1.“ The primary basis of accounting for inventories is cost, which has been defined generally as the price paid or consideration given to acquire an asset. As applied to inventories, cost means in principle the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location. It is understood to mean acquisition and production cost, and its determination involves many considerations.”11 The costs of purchase of inventories comprise the purchase price, import duties and other costs directly attributable to the acquisition of finished goods, materials and services. Trade discounts, rebates and other similar items are deducted in determining the costs of purchase.Same as 330-10-30-1.“ The primary basis of accounting for inventories is cost, which has been defined generally as the price paid or consideration given to acquire an asset. As applied to inventories, cost means in principle the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location. It is understood to mean acquisition and production cost, and its determination involves many considerations.”12 The costs of conversion of inventories include costs directly related to the units of production and also include a systematic allocation of fixed and variable Same as 330-10-30-3:“For example, variable production overheads are allocated to each unit of production on the basis of the actual use of the production production overheads. Fixed production overheads are those indirect costs of production that remain relatively constant regardless of the volume of production. Variable production overheads are those indirect costs of production that vary directly, or nearly directly, with the volume of production.facilities. However, the allocation of fixed production overheads to the costs of conversion is based on the normal capacity of the production facilities. Normal capacity refers to a range of production levels. Normal capacity is the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. Some variation in production levels from period to period is expected and establishes the range of normal capacity.”13 Normal capacity is the production expected to be achieved on average over a number of periods or seasons under normal circumstances. The actual level of production may be used if it approximates normal capacity. Unallocated overheads are recognised as an expense in the period in which they are incurred. Fixed overhead allocated to each unit of production is decreased so that inventories are not measured above cost. Variable production overheads are allocated to each unit of production on the basis of the actual use of the production facilitiesSame as 330-10-30-06:“The actual level of production may be used if it approximates normal capacity. In periods of abnormally high production, the amount of fixed overhead allocated to each unit of production shall be decreased so that inventories are not measured above cost. The amount of fixed overhead allocated to each unit of production shall not be increased as a consequence of abnormally low production or idle plant.”14 When the costs of conversion of each product are not separately identifiable, they are allocated between the products on a rational and consistent basis. Most by-products, by their nature, are immaterial. When this is the case, they are often measured at net The U.S. GAAP of inventory does not has related requirements. realisable value and this value is deducted from the cost of the main product. As a result, the carrying amount of the main product is not materially different from its cost15 Other costs are included in the cost of inventories only to the extent that they are incurred in bringing the inventories to their present location and condition. Same as 330-10-30-1:“As applied to inventories, cost means in principle the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location. ”16 Examples of costs excluded from the cost of inventories and recognised as expenses in the period in which they are incurred are:(a) abnormal amounts of wasted materials, labour or other production costs;(b) storage costs, unless those costs are necessary in the production process before a further production stage;(c) administrative overheads that do not contribute to bringing inventories to their present location and condition; and(d) selling costsDifferent:330-10-30-7Unallocated overheads shall be recognized as an expense in the period in which they are incurred. Other items such as abnormal freight, handling costs, and amounts of wasted materials (spoilage) require treatment as current period charges rather than as a portion of the inventory cost.17 IAS 23Borrowing Costsidentifies limited circumstances where borrowing costs are included in the cost of inventoriesThe U.S. GAAP does not have related requirement.18 An entity may purchase inventories on deferred settlement terms. When the arrangement effectively contains a financing element, that element is recognised as interest expense over the period of the financingThe U.S. GAAP does not have related requirement.19 To the extent that service providers have inventories, they measure them at the costs of their The U.S. GAAP does not have related duction. These costs consist primarily of the labour and other costs of personnel directly engaged in providing the service, including supervisory personnel, and attributable overheads. Labour and other costs relating to sales and general administrative personnel are not included but are recognised as expenses in the period in which they are incurred. The cost of inventories of a service provider does not include profit margins or non-attributable overheads that are often factored into prices charged by service providers.20 In accordance with IAS 41 Agriculture inventories comprising agricultural produce that an entity has harvested from its biological assets are measured on initial recognition at their fair value less costs to sell at the point of harvest. This is the cost of the inventories at that date for application of this Standard.Different with 905-330-30-2Generally, farming procedures undertaken after the current year harvest benefit the crop of the succeeding year. Those costs shall be estimated and accrued as costs of the harvested crop.21 Techniques for the measurement of the cost of inventories, such as the standard cost method or the retail method, may be used for convenience if the results approximate cost. Standard costs take into account normal levels of materials and supplies, labour, efficiency and capacity utilisation. They are regularlyreviewed and, if necessary, revised in the light of current conditionsSame as 330-10-30-12“Standard costs are acceptable if adjusted at reasonable intervals to reflect current conditions so that at the balance-sheet date standard costs reasonably approximate costs computed under one of the recognized bases. In such cases descriptive language shall be used which will express this relationship, as, for instance, “approximate costs determined on the first-in first-out basis,“ or, if it is desired to mention standard costs, “at standard costs, approximating average costs.“22 The retail method is often used in Different:the retail industry for measuring inventories of large numbers of rapidly changing items with similar margins for which it is impracticable to use other costing methods. The cost of the inventory is determined by reducing the sales value of the inventory by the appropriate percentage gross margin. The percentage used takes into consideration inventory that has been marked down to below its original selling price. The U.S. GAAP does not have related description of retail inventory method. It is just mentioned 330-10-30-13 to indicate that in some situations a reversed mark-up procedure of inventory pricing, the retail inventory method may be both practical and appropriate. 23 The cost of inventories of items that are not ordinarily interchangeableand goods or services produced and segregated for specific projects shall be assigned by using specific identification of their individual costs.In U.S. GAAP there is no related requirement.24 Specific identification of cost means that specific costs are attributed to identified items of inventory. However, when there are large numbers of items of inventory that are ordinarily interchangeable, the method of selecting those items that remain in inventories could be used to obtain predetermined effects on profit or lossSame as 330-10-30-11:“Accordingly, if the materials purchased in various lots are identical and interchangeable, the use of identified cost of the various lots may not produce the most useful financial statements. This fact has resulted in the general acceptance of several assumptions with respect to the flow of cost factors such as FIFO, average, and LIFO to provide practical bases for the measurement of periodic income.”25 The cost of inventories, other than those dealt with in paragraph 23, shall be assigned by using the first-in, first-out (FIFO) or weighted average cost formula. Different:In 330-10-30-09, the inventory cost can be measured by FIFO, LIFO or weighter average.26 For example, inventories used in one operating segment may have a use to the entity different from the same type of inventories used in Is the same as 330-10-30-04“Although selection of the method should be made on the basis of the individual circumstances, another operating segment. However, a difference in geographical location of inventories, by itself, is not sufficient to justify the use of different cost formulasfinancial statements will be more useful if uniform methods of inventory pricing are adopted by all entities within a given industry.”27 The FIFO formula assumes that the items of inventory that were purchased or produced first are sold first, and consequently the items remaining in inventory are those most recently purchased or produced. The weighted average assumes that, the cost of each item is determined from the weighted average of the cost of similar items at the beginning of a period and the cost of similar items purchased or produced during the period.In U.S GAAP, there is no definition about FIFO and weight average method. 28 The cost of inventories may not be recoverable and the practice of writing inventories down below cost to net realisable value is consistent with the view that assets should not be carried in excess of amounts expected to be realised from their sale or use.Same as 330-30-35-7:“ Because of the many variations of circumstances encountered in inventory pricing, the definition of market is intended as a guide rather than a literal rule. It shall be applied realistically in light of the objectives expressed in this Subtopic and with due regard to the form, content, and composition of the inventory. For example, the retail inventory method, if adequate markdowns are currently taken, accomplishes the objectives described herein. It is also recognized that, if a business is expected to lose money for a sustained period, the inventory shall not be written down to offset a loss inherent in the subsequent operations.”29 Inventories are usually written down to net realisable value item by item. In some circumstances it may be appropriate to group similar The U.S. GAAP does not have related requirement.or related items. Service providers generally accumulate costs in respect of each service for which a separate selling price is charged. Therefore, each such service is treated as a separate item.30 Estimates of net realisable value are based on the most reliable evidence avail