对外经济贸易大学会计学专业英语课件.ppt

,LIABILITIES负债,Chapter10,I.O.U.,Definedasdebtsorobligationsarisingfrompasttransactionsorevents.,Maturity=1yearorless,Maturity1year,TheNatureofLiabilities,Theacquisitionofassetsisfinancedfromtwosources:,Fundsfromcreditors,withadefiniteduedate,andsometimesbearinginterest.,Fundsfromowners,DistinctionBetweenDebtandEquity,DevonMfg.borrows$100,000fromFirstBank.Theloanwillberepaidin20yearsandhasanannualinterestrateof8%.Isthisacurrentliabilityoranoncurrentliability?,LiabilitiesQuestion,Theobligationwillnotbepaidwithinoneyearoroneoperatingcycle,soitisanoncurrentliability.,Animportantindicatorofacompanysabilitytomeetitscurrentobligations.Twocommonlyusedmeasures:Workingcapital=currentassetscurrentliabilitiesCurrentratio=currentassetscurrentliabilities,EvaluatingLiquidity,DevonMfg.hascurrentliabilitiesof$230,000andcurrentassetsof$322,000.WhatisDevonscurrentratio?,LiabilitiesQuestion,Short-termobligationstosuppliersforpurchasesofmerchandiseandtoothersforgoodsandservices.,Merchandiseinventoryinvoices,Shippingcharges,Utilityandphonebills,Officesuppliesinvoices,AccountsPayable(应付账款),TotalNotesPayable,Whenacompanyborrowsmoney,anotepayableiscreated.CurrentPortionofNotesPayableTheportionofanotepayablethatisduewithinoneyear,oroneoperatingcycle,whicheverislonger.,NotesPayable,PROMISSORYNOTE本票/期票LocationDateafterthisdatepromisestopaytotheorderofthesumofwithinterestattherateofperannum.signedtitle,Miami,Fl,Nov.1,2005,Sixmonths,PorterCompany,JohnCaldwell,SecurityNationalBank,$10,000.00,12.0%,treasurer,NotesPayable,OnNovember1,2005,PorterCompanywouldmakethefollowingentry.,NotesPayable,Refertotextbookexample(p.414)Problem10.3(p.458,tobedoneinclass),NotesPayable,Interestexpenseisthecompensationtothelenderforgivinguptheuseofmoneyforaperiodoftime.Theliabilityiscalledinterestpayable.Tothelender,interestisarevenue.Totheborrower,interestisanexpense.,InterestRateUp!,InterestPayable,Theinterestformulaincludesthreevariablesthatmustbeconsideredwhencomputinginterest:,Interest=PrincipalInterestRateTime,Whencomputinginterestforoneyear,“Time”equals1.Whenthecomputationperiodislessthanoneyear,then“Time”isafraction.,InterestPayable,Forexample,ifweneededtocomputeinterestfor3months,“Time”wouldbe3/12.,WhatentrywouldPorterCompanymakeonDecember31,thefiscalyear-end?,InterestPayableExample,$10,00012%2/12=$200,NetPay（take-homepay)实得工资,PayrollLiabilities,GrossPay,FederalInsuranceContributionsAct联邦社会保险捐款法,aliabilityaccount.,Cashissometimescollectedfromthecustomerbeforetherevenueisactuallyearned.,UnearnedRevenue,Astheearningsprocessiscompleted.,Long-TermDebt,Largedebtneedsareoftenfilledbyissuingbonds.,Long-TermDebt,Long-termnotesthatcallforaseriesofinstallmentpayments.,InstallmentNotesPayable,Identifytheunpaidprincipalbalance.UnpaidPrincipalInterestrate=Interestexpense.Installmentpayment-Interestexpense=Reductioninunpaidprincipalbalance.Computenewunpaidprincipalbalance.,AllocatingInstallmentPaymentsBetweenInterestandPrincipal,OnJanuary1,2003,RocketCorp.borrowed$7,581.57fromFirstBankofRiverCity.Theloanwasafive-yearloanandhadaninterestrateof10%.Theannualpaymentis$2,000.PrepareanamortizationtableforRocketCorp.sloan.,AllocatingInstallmentPaymentsBetweenInterestandPrincipal,Now,preparetheentryforthefirstpaymentonDecember31,2003.,AllocatingInstallmentPaymentsBetweenInterestandPrincipal,Theinformationneededforthejournalentrycanbefoundontheamortizationtable.Thepaymentamount,theinterestexpense,andtheamounttocredittoprincipalareallonthetable.,AllocatingInstallmentPaymentsBetweenInterestandPrincipal,AllocatingInstallmentPaymentsBetweenInterestandPrincipal,Exercise10.7(p.454,tobedoneinclass),Bondsusuallyinvolvetheborrowingofalargesumofmoney,calledprincipal.Theprincipalisusuallypaidbackasalumpsumattheendofthebondperiod.Individualbondsareoftendenominatedwithaparvalue（票面值）,orfacevalue（面值）,of$1,000.,BondsPayable应付债券,Bondsusuallycarryastatedrateofinterest,alsocalledacontractrate（约定利率）orcouponrate(票面利率）.Interestisnormallypaidsemiannually.Interestiscomputedas:,Interest=PrincipalStatedRateTime,BondsPayable,Bondsareissuedthroughanintermediarycalledanunderwriter（包销商/承销商）.Bondscanbesoldonorganizedsecuritiesexchanges.Bondpricesareusuallyquotedasapercentageofthefaceamount.Forexample,a$1,000bondpricedat102wouldsellfor$1,020.,BondsPayable,MortgageBonds抵押债券,ConvertibleBonds可转换债券,JunkBonds垃圾债券,DebentureBonds无担保债券,TypesofBonds,CallableBonds可提前赎回债券,RegisteredBonds记名债券,CouponBonds附息票债券OrBearerBonds无记名债券,TaxAdvantageofBondFinancing,Refertotextbookexampleonp.423Exercise10.8(p.454,tobedoneinclass),OnJanuary1,2003,RocketCorp.issues$1,500,000of12%,10-yearbondspayable.Interestispayablesemiannually,eachJuly1andJanuary1.Assumethebondsareissuedatfacevalue.Recordtheissuanceofthebonds.,AccountingforBondsPayable,RecordtheinterestpaymentonJuly1,2003.,AccountingforBondsPayable,BondsSoldBetweenInterestDates,Bondsareoftensoldbetweeninterestdates.Thesellingpriceofthebondiscomputedas:,PresentValue,TheConceptofPresentValue（现值）,FutureValue终值,$1,000investedtodayat10%.,In5yearsitwillbeworth$1,610.51.,In25yearsitwillbeworth$10,834.71!,Moneycangrowovertime,becauseitcanearninterest.,Howmuchisafutureamountworthtoday?,PresentValue,FutureValue,Interestcompoundingperiods,Today,TheConceptofPresentValue,Howmuchisafutureamountworthtoday?Threepiecesofinformationmustbeknowntosolveapresentvalueproblem:Thefutureamount.Theinterestrate(i).Thenumberofperiods(n)theamountwillbeinvested.,Twotypesofcashflowsareinvolvedwithbonds:,Today,Principalpaymentatmaturity.,Periodicinterestpaymentscalledannuities年金,Maturity,TheConceptofPresentValue,ThePresentValueConceptandBondPrices,Thesellingpriceofthebondisdeterminedbythemarketbasedonthetimevalueofmoney.,Gainsorlossesincurredasaresultofretiringbondsshouldbereportedasextraordinaryitems（非常项目）ontheincomestatement.,EarlyRetirementofDebt,Practice,Exercise10.9(p.454,tobedoneinclass)Exercise10.10(p.454),LeasePaymentObligations,OperatingLeases经营租赁,CapitalLeases资本租赁,CapitalLeaseCriteria,Employersofferpensionplanstoemployees.,Retireesreceivepensionpaymentsfromthepensionfund.,Theemployermakespaymentstoapensionfund.Usually,thisisanindependententitymanagedbyaprofessionalfundmanager.,Pensions,Actuaries（精算师）makethepensionexpensecomputations,basedon:Averageage,retirementage,lifeexpectancy.Employeeturnoverrates.Compensationlevels.Expectedrateofreturnforthefund.,Theaccountantthenpoststheentrytorecordpensionexpenseandpensionliability.,Pensions,Manycompaniesofferbenefitstoretireesotherthanpensions,suchashealthcoverageorfitnessclubmemberships.,OtherPostretirementBenefits,Unfundedliabilityfornonpensionpostretirementbenefits,Corporationspayincometaxesquarterly.,DeferredIncomeTaxes递延所得税,Thedifferencebetweentaxexpenseandtaxpayableisrecordedinanaccountcalleddeferredtaxes.,TheInternalRevenueCode国内税收法规isthesetofrulesforpreparingtaxreturns.,Financialstatementincometaxexpense.,IRSincometaxespayable.,GAAPisthesetofrulesforpreparingfinancialstatements.,Resultsin.,Resultsin.,Usually.,DeferredIncomeTaxes,ExaminetheDecember31,2003,informationforX-OffInc.,X-Offusesstraight-linedepreciationforfinancialreportingandaccelerateddepreciationforincometaxreporting.X-Offstaxrateis30%.,DeferredIncomeTaxesExample,Theincometaxamountcomputedbasedonfinancialstatementincomeisincometaxexpensef