Unit 7 Liabilities.ppt

Unit7Liabilities Keyterms Loanandoverdraft贷款和透支Accruedexpense应付费用Deferredincome递延收益Currenttax当期所得税Deferredtax递延所得税Underpayment少付 金额 Overpayment超付 金额 Provision准备 预计负债Contingency或有事项 Keyterms Contingentliability或有负债Contingentasset或有资产Decommissioningcosts拆撤成本Warranty质量保证Onerouscontracts亏损合同 有偿合同Subletting分包 转租Restructuring重组义务Bond债券Debtinstrument 金融 债务证券Subscription订阅 订购 Learningobjectives IdentifythedefinitionandtypesofliabilitiesAccountforaccruedexpense应付费用Recognisethecurrenttaxanddeferredtax当期和递延所得税Distinguishprovisionsandcontingencies区分预计负债和或有事项Recognisethefinancialliabilities确认金融负债 Definitionofliability Liabilityisanentity spresentobligationarisingfromapastevent Thesettlementofwhichwillresultinanoutflowofeconomicbenefitfromtheentity whichincludes Currentliabilities流动负债Non currentliabilities非流动负债 Currentliabilities流动负债 Accountspayable应付账款 mustbepaidwithinoneyear Settlementtime结算时间 12monthsEg Loansrepayableinoneyear一年内应偿还的借款 bankoverdrafts银行透支 tradepayables应付贸易账款andcurrenttaxpayable当前所得税应付款 etc Non currentliabilities DebtsarenotpayablewithinashorttermSettlementtime 12monthsEg Long termborrowings long termprovision 长期预计负债 anddeferredtax 递延所得税 etc Overdrafts透支 Overdraftoccurswhenacompanywithdrawsfromabankaccountandexceedstheavailablebalance Expectedtorepaywithinshort termanditresultsinnegativebalanceincompany sbankaccount Currentliability Bankloans银行贷款 Bankloanisafixedamountforafixedtermwithregularfixedrepayments Whenaloanisbeingrepaidoveraperiodlongerthanoneyear theamountoutstanding未偿付余额willbesplitinthestatementoffinancialposition Payment 1yrascurrentliabilities thebalanceshownundernon currentliabilities Payables应付账款 Tradepayables应付贸易款Otherpayables其他应付款Notepayables应付票据Accruedexpense应付费用Deferredincome递延收益 Payables应付款项 Tradepayables应付贸易账款 Tradeaccountspayablesconsistof由 组成thoseliabilitieswhicharerelatedtothetradeofthebusiness 应付贸易账款是由和商业贸易有关的负债所组成的 Liabilitytopayforgoodsorserviceswhichhavebeenreceivedandinvoicedfromsupplierwiththeagreedtimingandamountandforwhichtherewasnotapromissorynote 期票 本票 Tradepayablesareownedtosuppliersofgoodsandservices e g rawmaterials supplier ortelephonecompany electricitycompany etc Payables应付款项 Otherpayables其他应付款 Otherpayablesarenotnormallyberecordedinthepayablesledgerandthebalancesowedshouldberecordedingeneralledgeraccountsinstead Examplesofotherpayables Liabilitiestopaywagesandsalaries Amountsdue到期金额tothetaxofficeforpayrolltaxes工资税andsalestax营业税 Payableforitemswithnon tradepurpose用于支付非贸易目的的账款 Someitemsofexpenditure likerent Liabilitiestopaywagesandsalaries 工资薪水相关债务 Moreoftenthannot 往往 多半 attheendofaccountingperiod acompanywilloweitsemployeessomewages whichmustbeshownasapayableinthestatementoffinancialpositionattheaccountingdate Amountsduetothetaxofficeforpayrolltaxandsalestax应给予税务局的工资税和营业税 Taxesandotheramountscollectedbythebusinessonbehalfofthirdparties 由公司代第三方收取的税款及其他款项 Payableforitemswithnon tradepurpose非贸易目的物品的应付款 Payableforgoodsandserviceswhicharenotdirectlyrelatedtothemaintradeofthebusiness forexample amountspayableforthepurchaseofnon currentassets 对不直接涉及商业贸易的货物或服务的应付款 例如 购买非流动资产的应付账款 Someitemsofexpenditure某些支出项目 Suchasrent租金Maybeprocessedinthepayablesledgeralongwithtradepayablesinsomebusinesses orMayinotherbusinessesbeseparatelyprocessedasotherpayables Payables应付款项 Notepayable应付票据 Boththeloanpayableandnotepayablearelegalobligationtopayaspecificsumofmoneyataspecificperiodoftimewhileanotepayableisawrittenpromisetopaymoneyatthefuturedate Inapromissorynote thepartymakingthepromisetopayiscalledthemaker付款人 Towhompaymentistobemadeiscalledthepayee收款人 Payables应付款项 Notepayable应付票据 Tothemaker thepromissorynoteisanotepayable Tothepayee itisanotereceivable Makershouldcreditnotepayableandthepayeeshoulddebitnotereceivable Payables Accruedexpense应付费用 Expensesarerelatetoanaccountingperiodbuthavenotbeenpaid与此会计期相关且尚未支付的费用 Theyareachargeagainsttheprofit冲销当期利润andtheyareshowninthestatementoffinancialpositionasattheendoftheperiodasacurrentliability Eg Canbeinterest利息 rent房租 taxes税andsalaries薪水 etc Payables Accruedexpense应付费用 Accruedexpenseareincludedinpayablesincurrentliabilitiesastheyrepresentliabilitieshavebeenincurredbutnotyetinvoiced 应付费用要作为流动负债中的应付账款来处理 因为它代表着已发生且尚未收到发票的负债 Ifthebusinesswastoclosedown停业attheendoftheaccountingperiod theexpensewouldstillhavetobepaid Payables Accruedexpense应付费用 Example accruals应计项目Assumethatrentof 1 000peryearispayableattheendofeverythreemonths Therentwasnotalwayspaidontime Preparetherentaccount Detailswere Payables Accruedexpense应付费用 Solution Therentpaidon3Jan 20 x2willappearinthebooksoftheyear20 x1aspartofthedoubleentry Theexpensefor20 x1isobviously 1 000asthatistheyear srent andthisisalsotheamountneededtobetransferredtotheprofitandlossaccount Payables Accruedexpense应付费用 Butif 1 000wasputonthecreditsideoftherentaccount theaccountwouldnotbalancebecausethereis 1 000onthecreditsideoftheaccountandonly 750onthedebitside Tomaketheaccountbalancethe 250rentowingfor20 x1 butpaidin20 x2 mustbecarrieddownto20 x2asacreditbalancebecauseitisaliabilityon31Dec 20 x1 Therentof 250couldbecalled rentaccrued orjustsimplyan accrual Payables Accruedexpense应付费用 Thecompletedaccountcannowbeshown Payables Accruedexpense应付费用 Here afulltwelvemonths rentalchargesaretakenasanexpensetotheincomestatement Thecorrespondingcreditentry对应的贷方分录ofrentwouldbecashifrentispaidwithouttheneedforaninvoice E g withpaymentbystandingorderordirectdebitatthebank Ifthereisalwaysaninvoicewhererentbecomespayable thedoubleentrywouldbe Payables Accruedexpense应付费用 DEBITRentaccount 250CREDITPayables 250Thenwhentherentispaid theledgerentrieswouldbe DEBITPayables 250CREDITCash 250 Payables Deferredincome递延收益 Moneyreceivedforfutureservicestobeperformedorgoodstobedelivered Cannotberecognizedasincomeimmediately Itisrecordedasaliabilityuntildeliveryismade atwhichtimeitisconvertedintorevenue Anitemthatgivesrisetodeferredincomeistheothersideofaprepayment Asupplierwillhavedeferredincomeincaseofthebuyermakesaprepayment Payables Deferredincome递延收益 E g acompanyreceivesanannualsubscriptionsfeeinadvanceof 12 000for12monthlypublicationsofamagazine Attheendoftheyear thecompanyhadproducedanddispatched 派送 threeofthe12publications So thecompanyusingaccrualaccounting权责发生制recognizesonly3 12 12 000 3 000assalesintheincomeandexpenseaccount Therestisaddedtodeferredincomeasliabilityonthestatementoffinancialpositionforthatyear Incometaxes所得税 currenttax当期所得税 Theamountofincometaxtowhichacompanyisassessedonitsprofitforanaccountingperiodiscalledtaxliability IAS12incometaxesrequiresanyunpaidtaxastothecurrentorpriorperiodstoberecognisedasliability Conversely相反的 anyexcesstaxpaidoverwhatisdueshouldberecognisedasanasset Incometaxes所得税 currenttax当期所得税 Taxchargedagainstprofitswillbeaccountedfor DEBITIncometaxexpense incomestatement statementofcomprehensiveincome XCREDITTaxpayable statementoffinancialposition X Incometaxes所得税 currenttax当期所得税 Theoutstandingbalance未结余额onthetaxationaccountwillbealiabilityinthestatementoffinancialposition untileventuallypaid whentheaccountingentrywouldbe DEBITTaxpayableXCREDITCashX Incometaxes所得税 currenttax当期所得税 IAS12incometaxcoversbothcurrentanddeferredtax Currenttaxistheamountactuallypayabletothetaxauthoritiesinrelationtothetradingactivitiesoftheentityduringtheperiod Theactualamountofcurrenttaxhadbeenpaidmaybeslightlydifferentthantheestimatefigure Therewillbeanoverorunderprovisionoftaxforthepriorperiodsinthiscase Incometaxes所得税 currenttax当期所得税 E g journalentriesforcurrenttax a Thecurrenttaxchargefor20 x1isestimatedat 30 000 atDecember20 x1 thejournalentrywillbeDEBITIncometaxexpense incomestatement 30 000CREDITCurrenttaxliability statementoffinancialposition 30 000 Incometaxes所得税 currenttax当期所得税 b Theactualamountpaidon20Mar 20 x2is28 000willberecordedas DEBITCurrenttaxliability statementoffinancialposition 28 000CREDITBank statementoffinancialposition 28 000 Incometaxes所得税 currenttax当期所得税 c Theoverprovisionofcurrenttaxof 2 000willbeadjustedinthe20 x2incomestatement Assumetaxchargefor20 x2isestimatedat 35 000 thecurrenttaxchargeincludingtheadjustmentforoverprovisionwillberecordedas DEBITIncometaxexpense incomestatement 33 000CREDITCurrenttaxliability statementoffinancialposition 33 000 Incometaxes所得税 currenttax当期所得税 Orcanberecordedastwoentriesbyrecordingtheincometaxexpenseandreversingtheoverprovisionfrom20 x1DEBITIncometaxexpense incomestatement 35 000CREDITCurrenttaxliability statementoffinancialposition 35 000DEBITCurrenttaxliability statementoffinancialposition 2 000CREDITIncometaxexpense incomestatement 2 000 Incometaxes所得税 Deferredtax递延所得税 IAS12requirescompaniestorecogniseadeferredtaxliabilityordeferredtaxasset Deferredtaxliabilityisthedeferredtaxconsequencesoffuturetaxableamounts Deferredtaxassetisthedeferredtaxconsequencesoffuturedeductibleamounts Deferredtaxisanaccountingmeasure usedtomatchthetaxeffectsoftransactionswithaccountingimpact Incometaxes所得税 Deferredtax递延所得税 Thejournalentriesforincometaxwillberecordedas DEBITIncometaxexpense incomestatement XCREDITTaxpayable statementoffinancialposition XDeferredtaxliability statementoffinancialposition XOrDEBITIncometaxexpense incomestatement XDeferredtaxasset statementoffinancialposition XCREDITTaxpayable statementoffinancialposition X Incometaxes所得税 Deferredtax递延所得税 Theliabilityfortaxpayableinthestatementoffinancialpositionisthetaxonthecurrentyearprofit Deferredtaxisanitemofnon currentliabilityorassetshowninthestatementoffinancialposition Thetaxexpenseiscalculatedasfollows Incometaxes所得税 Deferredtax递延所得税 Question1 Abusinesspurchasedtwomachineson1Jan 20 x1atacostof 20 000each Eachhadanestimatedlifeoffouryearsandnoresidualvalue Thestraightlinemethodofdepreciationisused Oneyearlateron30Apr 20 x2 onemachinewassoldoncashtoabuyerfor 10 000 thesecondmachinewassoldoncredit30November20 x2for 8 000 Preparethemachineryaccount depreciationofmachineryaccountanddisposalofmachineryaccountfortheaccountingyearto31Dec 20 x2 Question2 Lixincompanyhasthefollowingexpensesinformationfromtrialbalanceasat30Sep 20 x1 Sellingexpenses 10 000Financeexpenses 5 000Administrationexpenses 15 000Theadditionalinformationisavailable Includeinadministrationexpensesismachineryrentalof 6 000coveringtheyearto31Dec 20 x1 Alateinvoicefor 12 000coveringrentfortheyearended30Jun 20 x2hasnotbeenincludedinthetrialbalance Calculatetheamountofadministrationexpensesaccount Provision预计负债 Recognition确认TheIASdistinguishesprovisionsfromotherliabilitiessuchastradepayablesandaccruedexpense Thisisonthebasisthatforaprovisionthereisuncertaintyaboutthetimingoramountofthefutureexpenditure Aprovisionmaybeacurrentliabilityoranon currentliability dependingonwhenitfallsdue Provisionsarenormallydisclosedseparatelyfromotherliabilities particularlyiftheyaresignificantcomparedwithotherpayables Provision预计负债 IAS37viewsprovisionisaliabilityofuncertaintimingoramount Aprovisionshouldberecognisedasaliabilityinthefinancialstatementswhenthefollowing3conditionsaremet 缺一不可 Anentityhasapresentobligationasaresultofapastevent Itisprobablethatanoutflowofresourcesembodyingeconomicbenefitswillberequiredtosettletheobligation Areliableestimatecanbemadeoftheamountoftheobligation Provision预计负债 Andprovisioncouldbeaccountedforas DEBITExpenseaccount incomestatement XCREDITProvisionaccount statementoffinancialposition XWHENTHEEXPENDITUREISACTUALLYINCURRED THEDOUBLEENTRYIS DEBITProvisionaccountXCREDITBankaccountX Specificprovisions具体的预计负债 Recognisinganassetwhenrecognisingaprovision Ifanoilrigisbroughtintooperation aprovisionforthedecommissioningcostsattheendoftherigs lifemustberecognised sincethereisanobligationasaresultofapastevent Anassetfortheaccesstofutureeconomicbenefitsisrecognisedatthesametimeastheprovisionforthedecommissioningcosts Specificprovisions warranties质量保证 E g Acompanyoffersawarrantyonthesaleofallitsgoodsforoneyearafterthedateofsale Warrantyclaimonanindividualitemisestimatedat20 Supposedawarrantyclaimismadeonaveragetherepairorreplacementcosts40 oftheoriginalsalesvalue Salesfortheyearended31Dec 20 x0totaled 400 000 warrantyclaimsinrespectofthosesalespriorto31Dec20 x0totaled 12 000 Specificprovisions warranties质量保证 Totalwarrantyclaimsinrespectof20 x0 ssalesare 400 000 20 40 32 000 claimsof 12 000havebeenmadebeforetheyearend Thereforeaprovisionisrequiredforexpectedfutureclaimsof 20 000 Specificprovisions onerouscontracts亏损合同 Ifanenterprisehasacontractthatisonerous thepresentobligationunderthecontractshouldberecognisedandmeasuredasaprovision Onerouscontractisoneinwhichtheunavoidablecostsofmeetingtheobligationsundercontractexceedtheeconomicbenefitsexpectedtobereceivedunderit Specificprovisions onerouscontracts亏损合同 E g acompanyhastenyearslefttorunontheleaseofapropertythatiscurrentlyunoccupied Thepresentvalue现值ofthefuturerentalsatthebalancesheetdateis 60 000 butthedirectors主管feelthatlikelyfuturesublettingrentalscouldhaveapresentvalueof 50 000 aprovisionof 10 000wouldberequiredinrespectofthisonerouscontract Specificprovisions restructuring重组义务 IASgivesthefollowingexamplesofeventsthatmayfallunderthedefinitionofrestructuring Thesaleorterminationofalineofbusiness Theclosureofbusinesslocationsinacountryorregionortherelocationofbusinessactivitiesfromonecountryregiontoanother e g DellChangesinmanagementstructure forexample theeliminationofalayerofmanagement 领导层的去除 Specificprovisions restructuring重组义务 Fundamentalreorganisationsthathaveamaterialeffectonthenatureandfocusoftheentity soperation Aprovisionforrestructuringcostsshouldberecognisedonlywhenanenterprisehasadetailedformalplanfortherestructuringandhasraisedavalidexpectationinthoseaffectedthatitwillcarryouttherestructuringbystartingtoimplementthatplanorannouncingitsmainfeaturestothoseaffectedbyit Contingencies或有事项 contingentliability或有负债 IAS37definesacontingentliabilityas Apossibleobligationthatarisesfrompasteventsandwhoseexistencewillbeconfirmedonlybytheoccurrenceornon occurrenceofoneormoreuncertainfutureeventsnotwhollywithintheentity scontrol or Contingencies或有事项 contingentliability或有负债 Apresentobligationthatarisesfrompasteventsbutisnotrecognisedbecause Itisnotprobablethatanoutflowofresourcesembodyingeconomicbenefitswillberequiredtosettletheobligation orTheamountoftheobligationcannotbemeasuredwithsufficientreliability Contingencies或有事项 contingentliability或有负债 Shouldnotberecognisedbutshouldbedisclosed therequireddisclosuresare Abriefdescriptionofthenatureofthecontingentliability Anestimateofitsfinancialeffect Anindicationoftheuncertaintiesthatexist Thepossibilityofanyreimbursement Contingencies或有事项 contingentliability或有负债 Probablemeansmorethan50 likely Ifanobligationisprobable itisnotacontingentliability instead aprovisionisneed E g ifacompanyisexpectedtopayabout 200 000foralegaldispute theoutcomeisnotyetknown Aprovisionshouldberecognised Contingencies或有事项 contingentliability或有负债 Iftherearepossibledamagesof 200 000butthecompanydidnotexpecttohavetopaythemorthecompanyexpecttohavetopaydamagesbutunabletoestimatetheamountunderthesamesituation acontingentliabilityshouldbedisclosed Contingencies或有事项 contingentassets或有资产 IAS37definesacontingentassetas Apossibleassetthatarisesfrompasteventsandwhoseexistencewillbeconfirmed onlybytheoccurrenceornon occurrenceofoneormoreuncertainfutureeventsnotwhollywithintheentity scontrol Acontingentassetmustnotberecognised Theyonlyaredisclosedinthenotesiftheyareprobable Contingencies或有事项 contingentassets或有资产 Onlywhentherealizationoftherelatedeconomicbenefitsisvirtuallycertain theyshould