国际会计课件ppt课件.ppt

Chapter3Accountingforcurrencyexchangeratechanges Terminology 一 Foreignexchange外汇1外币存款 e g papermoney coin 2外币支付凭证 e g promissorynote draft汇票 3外币有价证券 e g stock 4其他货币资金 二 Foreignexchangemarket外汇市场 三 Foreignexchangetransaction外汇交易 exchangeonecurrencyforanotherataspecifiedexchangerate Including Spottransaction forwardcontract currencyoption currencyswap c f exchange兑换vstranslation折算E是不同货币间的实际交换 T是不同货币间的重新表述 1 Spottransaction即期交易 P58 Almostimmediatepurchaseorsaleofforeigncurrency 2 forwardcontract远期合同 P58 Participantscontracttodayforthefuturedeliveryofforeigncurrency Forwardratespotrate premium 升水 forwardrate spotrate parN 在直接标价法下 贴水代表本币升值e g 现 1 6 7inChina 3个月后 1 6 5ThatmeansRMB domesticcurrency isrisinginvalue 反之 在间接标价法下 升水表示本币升值 3 currencyoption 货币期权 80年代初兴起 Itisacontractthatprovidestherightbutnottheobligationtotradeaforeigncurrencyatasetexchangerateonorbeforeagivendateinthefuture 拥有履行或不履行购买 或卖出 远期外汇合约选择权的外汇业务 买方和卖方签定购买远期外汇合约 并支付一定金额的保险费 在有效期内或到期日 有权按协定汇价履行合约 进行实际货币交割 也可根据市场情况不履行合约 放弃权利 特征 1 期权业务下的保险费不能收回 无论履行或放弃合约 2 保险费率不固定 3 具有执行或不执行合约的选择权 灵活性强 4 currencyswap货币掉期 p58 Itisatransactionthatinvolvesasimultaneouspurchaseandsaleoftwodifferentcurrencies 同时买卖两种不同货币的交易 购买行为当即生效 而回卖给同一方的行为则是按照今天约定的价格在特定的未来日完成 合同组合 1 Spotcontract即期合同 2 Forwardcontract远期合同在买进或卖出即期外汇的同时 卖出或买进远期外汇 将一种货币调换成另一种货币 可避免外汇汇率波动的风险 以防可能发生的损失 二 Manner1 directquote 直接标价法 Itisthepriceofoneunitoftheforeigncurrencypricedinthedomesticcurrency e g 1 6 4inChina 2 indirectquote 间接标价法 Itisthepriceofoneunitofthedomesticcurrencypricedintheforeigncurrencye g 1 6 4inU S Conclusion Directquoteisinternationalconvention Chinaalsoadopts D exceptUS UK Bid买入价 银行买入 offer askrate 卖出价 银行卖出 Offer bid points thespread 万分之一e g 我国只公布各种外币对人民币的汇率 若某企业要把1000美元兑换成港元 设当日外汇牌价如下 bidofferU S 100RMB636 97RMB639 52HK 100RMB81 72RMB82 03 Sol 1 US RMB 银行买入美元 1000 RMB636 97 100 RMB6369 72 RMB HK 银行卖出港元 RMB6369 7 HK 7765 09RMB82 03 HK 100 三 twoviewsofforeigncurrencytransactionexchangegainsandlosses汇兑损益 一 single transaction单一交易 按交易日汇率折算的收入 成本视为暂记数 把购销交易和账款结算视为同一交易的两个阶段 二 two transaction两项交易 常用 购销交易及账款结算被认为是两项独立但相互关联的交易 e g 1 ConsideraUScompanysellssomeproductstoacustomerinAustraliawithaninvoiceamountofAU 16millionwhentheexchangerateisAU 1 6perUS Thecustomerisallowed60days credit Atthesettlementdate theexchangerateisAU 1 65 US 1 Thatis US isstrengtheningandtheUScompanywillreceivefewerUS Sol 1 EntryattransactiondateDr AccountsReceivableUS 10 000 000Cr RevenuesUS 10 000 0002 EntryatsettlementdateDr cashUS 9 696 970 AU 16000000 1 65 ExchangegainsandlossesUS 303 030Cr AccountsReceivableUS 10 000 000Another seep64 foreignexchangeexposure一 concept Ameasureofthepotentialforafirm sprofitability cashflow andmarketvaluetochangebecauseofachangeinexchangerates二 kinds 1 Transactionexposure 2 Translationexposure 3 Economicexposure TranslationMethods Terminology1 Currentrate Itistheexchangerateprevailingatthebalancesheetdate 又称期末汇率 2 Historicalrate Itistheexchangeratethatprevailedatthedateonwhichaspecifictransactionoccurred 3 Averagerate Itisaweightedaverageoftheexchangeratesthatprevailedduringtheperiodforwhichfinancialstatementsarebeingprepared 一 Current non currentmethodItisatraditionalclassification Procedure 1 Balancesheet 1 currentassetsandliabilities translatedatthecurrentrate 2 non currentassetsandliabilities translatedatthehistoricalratewhentheassetsandliabilitieswerefirstacquired 2 Incomestatement attheaverageratefortheaccountingperiodexceptthedepreciationoffixedassetsandtheamortizationexpensesofintangibleassetswhicharetranslatedatthehistoricalrate 3 Costofgoodssold 销售成本 则按 期初存货 本期购货 期末存货 的公式对其分别进行折算 但期初存货应按上期期末存货取得时的历史汇率进行折算 本期购货应按本期的平均汇率进行折算 而期末存货则应按本期期末存货取得时的历史汇率进行折算 4 Retainedearnings belongtoowner sequity 利用资产负债表的平衡原理折算而得Review ItwaswidelyusedinUSfromthe1930sto1970s SFASNo 8生效为止 Defect Usingthecurrentratetotranslatecurrentassetsandliabilitiesisbasedonthefalsepremisethattheyaresimilarlyaffectedbyexchangeratechanges e g cash payables inventoriesCause Whendomesticcurrencyweakens priceofinventorycanbeincreasedtoprotectitsvaluefromthedeclineinthedomesticcurrency Butthatisnotthecasewithcash payablesetc 它是正在被淘汰的方法 只有少数国家NewZealand Pakistan Iran SouthAfrica等使用 二Monetary non monetarymethod1 Monetaryitems cash receivables payables aretranslatedatthecurrentrate Non monetaryitems suchasinventory fixedassets intangibleassets aretranslatedatthehistoricalrate 2 Paid incapital 按股份发行日的汇率 historicalrate 3 Incomestatement attheaverageratefortheaccountingperiodexceptthedepreciationoffixedassetsandamortizationexpensesofintangibleassetswhicharetranslatedatthehistoricalrate Defect Thismethoddoesn tsurpasstheframeworkthatassetsandliabilitiesareclassified Soitdoesn ttouchthesubstanceofforeigncurrencytranslation e g Inventories应按照lowerofcostormarketprinciple 三Temporalmethod时态法 时间度量法 SFASNo 52 No 8adoptit 针对区分 货币与非货币 的缺陷 从会计计量概念上进一步推导出外币交易折算的全面原则 一 Principle Itonlychangesthemonetaryunitofmeasurementnottheattributeofmeasurement 二 procedure 1 Balancesheet 1 monetaryassetsandliabilities cash receivables payables aretranslatedatthecurrentrate 2 non monetaryassetsandliabilitiesA按历史成本表述的按historicalrate折算B按现行成本表述的按currentrate折算 3 Paid incapital 按股份发行日的汇率 historicalrate 2 IncomestatementRevenuesandexpenses averagerateexceptthedepreciationoffixedassetsandamortizationexpensesofintangibleassetswhicharetranslatedathistoricalrate Countries US Canada Austria Argentina Peruetc Review Itdoesn tchangethemeasurementbasis socanhandleanymeasurementbasis historicalcost currentreplacementprice currentmarketprice 时态法从会计计量理论上完善了货币与非货币项目法 四 Currentratemethod现行汇率法 closingratemethod期末汇率法 SFASNo 52adoptit 1 Balancesheet 1 Allassetsandliabilitiesaretranslatedatthecurrentrate 2 paid incapital historicalrate2 Incomestatement revenuesandexpenses averagerateWeakness Itassumesthatallassetsareexposedtoforeignexchangerisk Itisnotalwaystrue Review 1 Itisthesimplesttranslationmethod Itassumesthatallforeigncurrencyassetsandliabilitiesareexposedtocurrencyexchangerisk 2 Itadoptstheforeigncurrencyunit whiletheotherthreemethodsadoptthedomesticcurrencyunit 3 Thecurrent non currentmethodassumesthatonlythecurrentitemsareexposedtocurrencyrisk Themonetary non assumesthatonlythemonetaryitemsfacecurrencyrisk Thetemporalmethodadjuststhebalancesheetitemsaccordingtothevaluationbasisusedinthefinancialstatements c f monetarytemporalTheresultsobtainedunderthemonetary non monetarymethodandthetemporalmethodaresimilarexceptthetranslationofnon monetaryassets primarilyinventories carriedatmarket belowcost aretranslatedatthecurrentrateunderthetemporalmethodandthehistoricalrateunderthemonetary non monetarymethod e g 1 BelowisasectionoftheconsolidatedbalancesheetofMendeleyCorporation U K fromthecompany s2012annualreport TranslatetheGBPbalancesheetofMendeleyCorporationintoU S dollarsusingfourdifferenttranslationsmethods andfilltheresultsintorightsideoftableprovidedintheanswersheet CurrentExchangeRate 1GBP 2USDHistoricalExchangeRate 1GBP 1USDCalculate to andthenexplainwhichofthefourforeigncurrencymethodswouldMendeleyCorporationprefer Answer MendeleyCorporationwouldprefertouseCurrent Non currentMethod becauseonlywiththismethod ithaspositivebalancefromthetwoaccountslisted Inventories Marketisasset whereasLong termDebtisliability andthebalanceofthesetwoitemsusingasset liabilitywitheachmethodis 20000 10000 40000 20000 E g 2GutoeHisasubsidiarycompanyinGermany ItsparentcompanyisinUSA Attheendoftheyear weusefourforeigncurrencytranslationmethodstotranslateitsBalanceSheetasfollows AssumecurrentrateisDM2 1 HistoricrateisDM3 1 Pleasecalculate 1 to 8 andwritethecomputingprocess 1 1050 2100 0 5 2 750 1500 0 5 3 1500 3000 0 5 4 750 1500 0 5 5 700 1050 1500 2 3000 3 600 500 1000 6 200 1050 500 1000 600 750 1000 7 600 1050 900 1000 600 750 1000 8 590 1050 750 1500 600 750 1000 Foreigncurrencytranslationintheunitedstates SFASNo 52wasissuedinDec 1981andsupersededSFASNo 8 一 ObjectivesofSFASNO 52 p70 二 Thedefinitionoffunctionalcurrency p70 N 记账本位币 企业经营所处的主要经济环境中的货币 主要经济环境 企业主要产生和支出现金的环境 使用该环境中的货币最能反映企业主要交易的经济结果 三 ThreechoicesofFC 以美国为例 1 Localcurrencyisthefunctionalcurrency Iftheforeignsubsidiaryisarelativelyindependententitythatistheproductofitslocalenvironment e g 在英国的子公司使用的英磅 2 Domesticcurrency U S dollar isFC IftheforeignsubsidiaryismerelyanextensionofitsU S parentcompany e g 耐克在Indonesia组装运动鞋并将其运回美国的工厂 3 ThethirdcountrycurrencyisFC FCisneitherU S dollarnorthelocalcurrency e g H K dollarforaU S company sassemblyoperationsinChina 三 Twoviews1 Parentcompanyperspective SFASNo 8and52alladoptit IfaforeignsubsidiaryismerelyanextensionofitsUSparentcompany thentheUSdollar I e domesticcurrency isthefunctionalcurrency Approach 1 通过集团内部销售结算收回按转让价计算的货款 2 从子公司派得股利WhentheUSdollarisdeemedtobethefunctionalcurrencyoftheforeignsubsidiary itsfinancialstatementsareconvertedtoUSdollarusingthetemporalmethod Alltranslationgainsandlosses 折算损益 areincludedintheincomestatementandthusaffectthecompany searningsfortheperiod temporalmethod 2 Subsidiaryperspective SFASNo 52 iftheforeignsubsidiaryisrelativelyindependententitythatistheproductofitslocalenvironment thenthelocalcurrencyisthefunctionalcurrency Whenthelocalcurrencyisdeterminedtobetheforeignsubsidiary sfunctionalcurrency ItsfinancialstatementsaretranslatedtoUSdollarusingthecurrentratemethod Thecumulativetranslationadjustment CTA 累计折算调整 isinvolvedinthestockholders equitysectionofconsolidatedbalancesheet Sothecompaniescanavoidearningsvolatility P70 currentratemethod Conclusion 外币报表折算的时态法的依据是母公司货币观点 而现行汇率法的依据是子公司货币观点 N Incertainsituations FCisneitherUSdollarnorthelocalcurrencyofthecountrywherethesubsidiaryislocatedbutratherthecurrencyofthethirdcountry Thissituationrequiresatwo steptranslationprocess 1 translatedfromthelocalcurrencytotheFCusi