BusinessCombinationandstockinvestment.ppt

TheAccountingConceptofABusinessCombinationMethodsofAccountingforBusinessCombinationEquityMethodAOne-lineConsolidation,MajorContents,TheAccountingConceptofABusinessCombination,APBOpinionNo16,BusinessCombinationFASBStatement141,BusinessCombinationsIAS22:BusinessCombinationsCAS20:企业合并,APBOpinionNo16(1970),企业合并指一家公司与一家或几家公司或非公司组织的企业合成一个会计个体，这一会计个体继续从事以前彼此分离、相互独立的企业的经营活动。Businesscombination,asanaccountingconcept,occurswhenacorporationandoneormoreincorporatedorunincorporatedbusinessesarebroughttogetherunderthecontrolofasinglemanagementteam.Thatcontrolisestablishedwhen:1Onecorporationbecomesasubsidiary2Onecompanytransfersitsnetassetstoanother,or3Eachcompanytransfersitsnetassetstoanewlyformedcorporation.,FASBStatement141(2001),企业合并实质一个实体收购组成企业的净资产，或收购一个或者多个实体的股权并对该实体或多个实体进行控制。abusinesscombinationoccurswhenanentityacquiresnetassetsthatconstituteabusinessoracquiresequityinterestsofoneormoreotherentitiesandobtainscontroloverthatentityorentities.（paragraph9）ThepoolingofinterestmethodofaccountingwaseliminatedforalltransactionsinitiatedafterJune30,2001.,FASBStatement141(revised2007),Abusinesscombinationisatransactionorothereventinwhichanacquirerobtainscontrolofoneormorebusinesses.ControlhasthemeaningofcontrollingfinancialinterestAnentityshallaccountforeachbusinesscombinationbyapplyingtheacquisitionmethod.,IAS22(revised1998),企业合并，指通过一个企业与另一个企业的联合或获得对另一个企业净资产和经营活动控制权，而将各单独的企业组成一个经济实体。Abusinesscombinationisthebringingtogetherofseparateenterprisesintooneeconomicentityasaresultofoneenterpriseunitingwithorobtainingcontroloverthenetassetsandoperationsofanotherenterprise.（paragraph8）,IFRS3BusinessCombinations（2004）,Abusinesscombinationisthebringingtogetherofseparateentitiesorbusinessesintoonereportingentity.Theresultofnearlyallbusinesscombinationsisthatoneentity,theacquirer,obtainscontrolofoneormoreotherbusinesses,theacquiree.Ifanentityobtainscontrolofoneormoreotherentitiesthatarenotbusinesses,thebringingtogetherofthoseentitiesisnotabusinesscombination.,CAS20(2006),企业合并，是指将两个或者两个以上单独的企业合并形成一个报告主体的交易或事项。同一控制下的企业合并(Businesscombinationsinvolvingentitiesundercommoncontrol)非同一控制下的企业合并,MethodsofAccountingforBusinessCombination,PurchaseMethodPoolingofInterestsMethod,购买法（PurchaseMethod）将企业合并视为资产的购买行为,PurchaseMethod,Purchasecostismeasuredbythecashdisbursed,thefairvalueofpropertygivenup,orthefairvalueofsecuritiesissued.,Directacquisitioncostsarepaidtooutsideparties;includetheminthepricepaidIndirectacquisitioncostsareinternallyincurred;theyareexpensedIssuecostsaretoissuebondsorstock;theyaresubtractedfromthevalueassignedtothesecurities,Stocksandbondsissuedarealwaysrecordedatfairvalueinapurchase,1Determinethefairvaluesofallidentifiabletangibleandintangibleassetsacquiredandliabilitiesassumed.Allidentifiableassetsandliabilitiesarevaluedregardlessofwhethertheyarerecordedonthebooksoftheacquiredcompany(forexampleapatentwhereallR&Dwasexpensedasincurred).Novalueisassignedtogoodwillrecordedonthebooksoftheacquiredcompany.,Costallocationprocedures,2Theacquiringcompanyrecordstheassetsreceivedandliabilitiesassumedattheirfairvalues.aFirst,fairvaluesareassignedtoallidentifiabletangibleandintangibleassetsacquiredandliabilitiesassumed.bIfcostisgreaterthanfairvalueoftheidentifiablenetassetsacquired,theexcesscostisassignedtogoodwill.,cIffairvalueisgreaterthancost,theexcessfairvalueishandledinthefollowingfashion:(1)Theexcessisappliedasaprorata（按比例）reductionofamountsthatwouldhaveotherwisebeenassignedtoassetsexceptforfinancialassetsotherthaninvestmentsaccountedforbytheequitymethod,assetstobedisposedof（处理）,deferredtaxassets,prepaidpension（养老金）andpost-retirementassets,andanyothercurrentassets.(2)Ifallsuchassetsarereducedtozerovalue,thereminder,ifany,isrecognizedasanextraordinarygain.,商誉问题（TheGoodwillControversy）,Goodwillisdefinedastheexcessoftheinvestmentcostoverthefairvalueofassetsreceived.Thisisgoodwill?Goodwillisaasset?,商誉的本质,亨德里克森在会计理论中指出，从会计的角度来看，商誉有以下三种解释：对企业好感的价值；对企业的好感可能来自有利的地位位置、独占的特权以及良好的经营管理水平等因素。预期未来利润超过不包括商誉的总投资的正常报酬部分的现值；这只是商誉的一种计量，而没有说明其性质。反映企业总价值超过各个有形和无形资产价值差价的总的计价帐户。JohnB.Canning是最早提出这种观点的会计学家之一。,SFASNo.141BusinessCombinations(revised2007),Goodwillisanassetrepresentingthefutureeconomicbenefitsarisingfromotherassetsacquiredinabusinesscombinationthatarenotindividuallyidentifiedandseparatelyrecognized.,1、商誉是一项资产，并在有限的期限内摊销理由：商誉是实施合并的企业为了取得以后若干年度的超额利润而发生的超额支出，根据配比原则，商誉应进行摊销并与以后各期产生的超额利润加以配比。摊销的理论根据是什么？摊销期如何确定？,商誉(Goodwill),2、直接冲减留存收益理由：商誉的价值很不确定，不能单独存在和变现，而且形成商誉的因素难以为企业所控制，在合并之后，商誉是否继续存在令人质疑，所以将商誉单独列为一项资产不符合谨慎原则。自创商誉没有确认，如果只确认外购商誉，违背了逻辑一致性，所反映的信息未必真实。,3、作为一项永久资产，不予摊销，除非有证据表明其价值发生了持续下跌。理由：商誉的价值不一定下降。被并企业正常的生产经营过程中发生的各项费用形成了商誉，这些费用已计入被并企业的损益，再将商誉予以摊销，不免重复。,商誉的减值测试（TestingGoodwillForImpairment）,FASBStatementNo.142FASBStatementNo.142,GoodwillandOtherIntangibleAssets:eliminatesformerrequirementstoamortizegoodwill,rather,goodwillmustbeperiodicallytestedforimpairment（atleastannually）impairmenttestingandadjustmentforfinancialreportingpurposes,Animpairmentoccurswhentherecordedvalueofgoodwillisgreaterthanitsfairvalue.Whenanimpairmentoccurs,firmsmustwritedowngoodwilltoanewestimatedamountandrecordalossincalculatingnetincomeofaperiod.Goodwillimpairmentlossesareshownseparatelyintheincomestatement.Firmswilltreatgoodwillandotherintangibleassetsasassetsofthebusinessreportingunit.,1、冲减所购非流动资产价值（有价证券投资除外）理由：负商誉很可能是非流动资产公允价值高估的结果。APBOpinionNo.17建议，当购进一个企业所付的成本小于其所得可辨认净资产公允价值的差额，应予以冲减所购非流动资产的价值（长期有价证券除外）；如果这些非流动资产价值已冲减为零，则未分摊的差额作为“递延贷项”入账，然后分期转为收益。（IAS22企业合并中要求分摊于非货币性资产）,负商誉(NegativeGoodwill),2、直接计入资本公积理由：购入负商誉产生的特定原因是不可能确定的，因而找不到根据来减计一项资产的价值或者作为递延收益来记录一项负债。,3、全部作为递延收益处理，并在一定的年限内分摊计入收益。理由：负商誉的产生是在预期内被并企业由于其劣势而可能发生未来亏损或利润不足，但它们由不可归咎于任何可辨认的资产和负债。IASNo.22企业合并允许负商誉在不超过5年的期限内摊销，如果自购买日起超过5年但不超过20年的期限更为合理的，也可按不超过20年的期限处理。,权益结合法（PoolingofInterests）将企业合并视为经济资源的联合,ConditionsforPooling,Thepoolingofinterestsconceptwasbasedontheassumptionthatitwaspossibletouniteownershipintereststhroughtheexchangeofequitysecuritieswithoutanacquisitionofonecombiningcompanybyanother.InAPBOpinionNo.16（1970）,theAPBsoughttopreventpoolingofinterestsaccountingforbusinesscombinationsthatwereincompatiblewiththepoolingconcept.Itdidthisbyspecifying12conditionsthathadtobemetforthepoolingofinterestsmethodtobeused.,TwelveConditionsforPooling(APBOpinionNo.16),AttributesofCombiningCompanies1Autonomous(two-yearrule)2Independent(10%rule)MannerofCombiningInterests1Singletransaction(orcompletedwithinoneyearafterinitiation)2Exchangeofcommonstock(the“substantiallyall”rule:90%ormore)3Noequitychangesincontemplationofcombination(two-yearrule)4Sharesreacquiredonlyforpurposesotherthancombination5Nochangeinproportionateequityinterests6Votingrightsimmediatelyexercisable7Combinationresolvedatconsummation(nopendingprovisions)AbsenceofPlannedTransactions1Issuingcompanycannotreacquireshares2Issuingcompanycannotmakedealstobenefitformerstockholders3Issuingcompanycannotplantodispose（处置）ofassetswithintwoyears,Specialissuesinapooling,Direct,indirectandissuecostsareexpensedCombinerexistinggoodwillisrecordedAdjustmentsmaybemadetoaccountsfor:Changesinaccountingprinciples(foruniformity)Changesinaccountingperiod(foruniformity)RecordunrecordeditemsErrorcorrection,Alladjustmentsaremadetocombinerretainedearningsbeforetheequitytransferdiagramisapplied,Majorissues,Purchase,Pooling,Majorissues(continued),Purchase,Pooling,EquityMethodAOne-lineConsolidation,LevelofOwnership,0%,20%,50%,100%,Influencenotsignificant,Significantinfluence,Control,EquityMethod,Theequitymethodisrequiredforinvestmentsof50%orlessthatgivetheinvestoranabilitytoexercisesignificantinfluenceovertheinvestee.,But,whatissignificantinfluence?,Applicationoftheequitymethod,TheinvestmentaccountmovesinthesamedirectionastheinvesteesnetassetsOriginalcostincreased(decreased)byinvestorsshareofinvesteesincome(loss)anddecreasedbyinvestorsshareofinvesteesdividendsandbyamortizationofthedifferential.Amortizedifrelatedtolimited-lifeorintangibleassetsofinvestee.,Applicationoftheequitymethod,1Theinvestmentisinitiallyrecordedatcost2Theinvestorrecordsitsshareoftheinvesteesincomeasanincreasetotheinvestmentaccount，whetherdistributedornot.(losseswilldecreasetheinvestmentaccount)3Dividendsreceivedfromtheinvesteearerecordedasadecreasetotheinvestmentaccount,4AdditionaladjustmentsarerequiredaCost-bookvaluedifferentialsareaccountedforasiftheinvesteewereaconsolidatedsubsidiarybIntercompanyprofit