会计英语IAS2Inventory课件

AccountingEnglish会计英语,Unit8IAS2Inventories存货,1,PPT学习交流,Keyterms,Openinginventory期初存货Closinginventory期末存货Purchasecost采购成本Costofconvention加工成本Tradediscount商业折扣Rawmaterials原材料Workintheprocess半成品Finishedgoods完成产品Specificidentification具体辨认法FIFO(firstinfirstout)先进先出法,2,PPT学习交流,Keyterms,LIFO(lastinfirstout)后进先出法AVCO(averageweightedcost)加权平均法Periodicweightedaverage周期加权平均法Continuousweightedaverage连续加权平均法Netrealizablevalue(NRV)可变现净值Costofgoodssold销货成本,3,PPT学习交流,InventorydefinitionbyIAS2,Inventoriesaretheassetswhichshownbelowintheordinarycourseofbusiness:Heldforsale(finishedgoods)Intheproductionprocessforsale(workinprocess)Materialsorsuppliestobeconsumedintheproductionprocess(rawmaterials),4,PPT学习交流,Purchasecostandpricingmethod(采购成本及计价方法）,IAS2regulatethereareseveralcostshouldbeincludedinthecostofinventory:Costsofpurchase(incl.taxes,transport,andhandlingcost)lesstradediscountsreceived.Costsofconvention(incl.fixedandvariablemanufacturingoverheads).Othercostsincurredinbringingtheinventoriestotheirpresentlocationandcondition.,5,PPT学习交流,Methodsofpricinginventories:存货计价方法,Specificidentificationmethod:assignedtoeachunit,whicheasilyidentifiedwithahighunitcost,eg.Jewelersorantiques.FIFO:usedorsoldintheorderinwhichtheyareacquired.Inventoryisstatedwithcurrentcostsinthestatementoffinancialposition.Limitation:previouscostagainstcurrentrevenue.,6,PPT学习交流,Methodsofpricinginventories:存货计价方法,LIFO:Disallowed.IAS2(revised)doesnotpermittheuseofLIFO.AVCO(averageweightedcost):averagepriceofthecomponentsischangedaspurchasingpriceschange.,7,PPT学习交流,TwopossiblemethodsofcalculatingAVCO,Continuousweightedaveragemethod:newunitcostofinventoryiscalculatedwheneveranewreceiptofmaterialsoccurs.AVCO=Remaininginventorycost=IssuescostPeriodicweightedaveragemethod:usesasimpleaverageofthepurchasepricespaidduringtheperiodanditcalculatestheaveragecostsofunitsreceiptduringanaccountingperiod.,8,PPT学习交流,TransactionsduringMay20 x1ofLIXINcompanyareasfollows:,HowwouldissuesandclosinginventorybevaluedusingFIFOandAVCOmethodinturn?,9,PPT学习交流,Solution:(a)FIFO,10,PPT学习交流,Solution(b)AVCOcontinuousweightedaverage,11,PPT学习交流,Solution(b)AVCOperiodicweightedaverage,Theaveragecostduringtheperiod($3,300/350units)$9.43Thevalueofclosinginventory($9.4350units)$471.5,12,PPT学习交流,Measurementofinventory存货的计量,IAS2statesthatinventoriesshouldbemeasuredatthelowerofCOSTandnetrealizablevalue(NRV).NRV=SellingPrice-(CompletionCosts+SellingCosts),13,PPT学习交流,Example1:LIXINCompanyhas200differentitemswhichhadcost$40each.Theseitemswerefoundtobedefectiveatthebalancesheetdate.Thecostofrectificationafterthebalancesheetdateistobe$1,500,afterwhichtheycouldbesoldfor$50each,withsellingexpensestotaling$800.,Thejournalentryrequiredtorecognizethelossandreducetheinventoryamountis:DEBITLossonwrite-downofinventory(Expense)300CREDITInventory300,14,PPT学习交流,Doubleentrybookkeeping复式记账法,15,PPT学习交流,Example2：supposeacompanyhasthreeitemsofinventory.theircostandNRVsareasfollows.Calculatetheamountoflossonwrite-downofinventoryandtheinventoryvalueappearsinthestatementoffinancialposition.,DEBITLossonwrite-downofinventory(205,000-199,000)$6,000CREDITInventory$6,000Therefore,AnswerforQ1is$6,000,andforQ2is$199,000,16,PPT学习交流,Costofsales销售成本,17,PPT学习交流,Example:LIXINcompanyhaspurchasedgoodscosting$78,000andhasmadesalestotaling$120,000bytheendof20 x1.Goodscosting$5,000havenotbeensoldbytheendoftheyear.Assumetheopeninginven