中级财务会计：第8章 存货估值：以成本为基础的方法

1、Valuation of Inventories: A Cost-Basis ApproachChapter 8Intermediate Accounting12th EditionKieso, Weygandt, and Warfield Too much of a good thingThe Inventories of GM: A substantial increase in inventory may be a leading indicator of an upcoming decline in profit margins.(Bernard and Noel, 1991): In

2、creases in retailers inventory translate into lower prices and lower net income.For manufacturers, only increases in finished goods inventory lead to future profit declines. Increases in raw materials and work in process inventories signal that the company is building its inventory to meet increased

3、 demand. Therefore, future sales and income will be higher. These research results reinforce the usefulness of the GAAP requirement for manufacturers to disclose their inventory components on the balance sheet or in related notes.存货的分类与控制包含在存货中的实物商品包含在存货中的成本成本流转假设LIFO: 特殊问题分类控制存货计价的基本问题选择的基础在途商品寄销品特

4、殊销售合同存货差错产品成本期间成本购货折扣个别认定平均成本FIFOLIFOLIFO准备LIFO 清算美元币值LIFO比较LIFO 各种方法 LIFO的优点LIFO的缺点对存货计价方法的总结Valuation of Inventories:Cost-basis Approach存货分为:为销售而持有的资产项目在生产待售商品过程中需要使用或消耗的商品.Inventory Classification and SystemsLO 1 Identify major classifications of inventory.分类商业企业（零售）制造业企业持有存货的企业orWal-MartGMType o

5、f Business商业企业购买的商品一般是可供立即销售只有一个存货账户Inventory Classification and SystemsLO 1 Identify major classifications of inventory.Type of Business制造业企业三个存货账户原材料在产品产成品Inventory Classification and SystemsLO 1 Identify major classifications of inventory.Flow of CostsInventory Classification and SystemsIllustrat

6、ion 8-2LO 1 Identify major classifications of inventory.Flow of CostsInventory Classification and SystemsLO 1 Identify major classifications of inventory.保持会计记录的方法:Inventory Classification and SystemsLO 2 Distinguish between perpetual and periodic inventory systems.控制永续盘存制定期盘存制一个准确的、及时更新记录的会计系统可以帮助企

7、业按要求的样式、质量和数量准备产品.“JIT”, 降低了存货水平，进一步降低了费用.Features:Inventory Classification and SystemsLO 2 Distinguish between perpetual and periodic inventory systems.永续盘存制为转售而购入的商品或为生产而采购的原材料都被借记为存货而非购货购货运费、购货退回和折让以及购货折扣都被借记为存货而非某一单独账户在每笔销售发生时都按照销售商品的成本借记销售成本，贷记存货作为一种控制手段，还要留有每种存货记录的明细分类账。这些明细账记录了每种存货的数量和成本永续盘存制

8、持续记录了存货账户和销售成本账户的余额持续地追踪存货账户的变动。也就是说企业在商品采购和销售发生时直接将它们全部计入存货账户。Features:Inventory Classification and SystemsLO 2 Distinguish between perpetual and periodic inventory systems.定期盘存制在某一会计期间，企业通过借记购货账户来记录所有的存货采购在会计期间结束时，企业再把购货账户的总额加到期初库存存货的成本上。总和就是这一期间内可供销售商品的总成本Beginning inventory$ 100,000Purchases, ne

9、t800,000Goods available for sale900,000Ending inventory125,000Cost of goods sold$ 775,000公司仅在期末盘点手头的存货数量销货成本是可供销售商品账户与期末余额的差值，依赖于盘存。Inventory Classification and SystemsLO 2 Distinguish between perpetual and periodic inventory systems.Perpetual System Periodic System vs. Inventory Classification and

10、SystemsLO 2 Distinguish between perpetual and periodic inventory systems.永续盘存制下的存货短缺，一般指正常损耗之外的。需要单独的分录来调整，账-实Inventory Classification and SystemsLO 2 Distinguish between perpetual and periodic inventory systems.定期盘存制不需要调整，原因是短缺都计入销货成本了，人为因素和意外情况被掩盖在正常成本中。Two systems for maintaining inventory record

11、s:Inventory Classification and SystemsLO 2 Distinguish between perpetual and periodic inventory systems.控制永续盘存制定期盘存制修正的永续盘存制这种制度仅仅提供了有关存货数量增加或减少的详细记录-而不是有关金额. 复式簿记系统之外的一种备忘记录制度有助于在任何时点上确认存货水平.存货的分类与控制包含在存货中的实物商品包含在存货中的成本成本流转假设LIFO: 特殊问题分类控制存货计价的基本问题选择的基础在途商品寄销品特殊销售合同存货差错产品成本期间成本购货折扣个别认定平均成本FIFOLIFOL

12、IFO准备LIFO 清算美元币值LIFO比较LIFO 各种方法 LIFO的优点LIFO的缺点对存货计价方法的总结Valuation of Inventories:Cost-basis Approach如何将所有可供销售（或使用）商品的成本在已销售或已使用的商品和库存商品之间进行分配？Basic Issues in Inventory ValuationLO 2 Distinguish between perpetual and periodic inventory systems.Valuation of Inventories存货计价需要你明确以下问题：Basic Issues in Inv

13、entory ValuationLO 2 Distinguish between perpetual and periodic inventory systems.Valuation of Inventories包含在存货中的 实物商品 (在途商品、寄销品、特殊销售合同).包含在存货中的 成本 (生产成本与期间成本).采用的 成本流转假设 (FIFO, LIFO, 平均成本, Specific 个别认定, 零售价法, etc.).Who owns the goods?存货的分类与控制包含在存货中的实物商品包含在存货中的成本成本流转假设LIFO: 特殊问题分类控制存货计价的基本问题选择的基础在途

14、商品寄销品特殊销售合同存货差错产品成本期间成本购货折扣个别认定平均成本FIFOLIFOLIFO准备LIFO 清算美元币值LIFO比较LIFO 各种方法 LIFO的优点LIFO的缺点对存货计价方法的总结Valuation of Inventories:Cost-basis Approach理论上， 企业应该在取得商品法定所有权时记录这笔采购业务。实务中, 企业在收到商品时才予以记录.Physical Goods Included in InventoryLO 2 Distinguish between perpetual and periodic inventory systems.包含在存货中

15、的实物商品What is the exact time of legal passage of title?Special Consideration:在途商品寄销品特殊销售合同附回购协议的销售高退回率的销售分期付款销售Physical Goods Included in InventoryLO 2 Distinguish between perpetual and periodic inventory systems.某些时候在财务期间结束时，购买的商品仍然在运输途中-还没有收到。对这些已发运的商品的会计处理依赖于谁拥有它们.所有权转移原则（“passage of title” rule）目

16、的地交货方式f.o.b. shipping point and f.o.b. destination）CIF: Cost, Insurance and Freight CNF: Cost and Freight Physical Goods Included in InventoryLO 2 Distinguish between perpetual and periodic inventory systems.寄销品:Consigned goods商品被售出之前，其所有权归委托方所有。实际上，受托方应该特别注意不能将寄销品包含在其存货中。受托方不必在存货账户中为收到的商品编制分录Physic

17、al Goods Included in InventoryLO 2 Distinguish between perpetual and periodic inventory systems.Special Consideration:特殊的销售情况: titlerisk附回购协议的销售：这是融资！高退回率的销售：除非你能估计退回率分期付款销售：除非你能估计坏账率收入确认原则the earning process be substantially completedPhysical Goods Included in InventoryEffect of Inventory ErrorsLO

18、3 Identify the effects of inventory errors on the financial statements.期末存货的错报：Illustration 8-6如果期末存货被低估LO 3 Identify the effects of inventory errors on the financial statements.The effect of an error on net income in one year (2006) will be counterbalanced in the next (2007), however the income sta

19、tement will be misstated for both years.如果2009年期末存货被低估Effect of Inventory ErrorsLO 3 Identify the effects of inventory errors on the financial statements.如果购货（赊购）被漏报或低估The understatement does not affect cost of goods sold and net income because the errors offset one another.Illustration 8-8销货成本=期初+购

20、货-期末存货的分类与控制包含在存货中的实物商品包含在存货中的成本成本流转假设LIFO: 特殊问题分类控制存货计价的基本问题选择的基础在途商品寄销品特殊销售合同存货差错产品成本期间成本购货折扣个别认定平均成本FIFOLIFOLIFO准备LIFO 清算美元币值LIFO比较LIFO 各种方法 LIFO的优点LIFO的缺点对存货计价方法的总结Valuation of Inventories:Cost-basis ApproachCosts Included in InventoryLO 4 Understand the items to include as inventory cost.对取得存货的

21、会计处理，公司一般采用成本法！Costs Included in InventoryLO 4 Understand the items to include as inventory cost.产品成本期间成本购货折扣依附于存货的成本，因此企业在存货账户中记录产品成本:购买商品的运费其他直接取得成本为使商品达到可销售状态而发生的人工和其他生产成本. WINE?采购成本或采购部门的费用、仓储成本以及在商品销售前因储存或搬运而发生的其他成本，按照一定的比例分配给存货。但是由于在实务中很难分配这些成本费用，因此企业通常不把它们包含在存货计价中。Costs Included in Inventory产

22、品成本期间成本购货折扣期间成本，指与商品采购或生产间接相关的那些成本。利息是另外一种期间成本。企业通常把为使存货达到可销售状态而发生的利息成本费用化。FASB规定当利息成本与内部使用的资产有关，或者与作为独立的工程为了销售或出租而生产的资产有关时，企业应予以资本化。Costs Included in InventoryLO 4 Understand the items to include as inventory cost.产品成本期间成本购货折扣 总价法 vs. 净价法Treatment of Purchase DiscountsGross Method Net Method vs. LO

23、 4 Understand the items to include as inventory cost.存货的分类与控制包含在存货中的实物商品包含在存货中的成本成本流转假设LIFO: 特殊问题分类控制存货计价的基本问题选择的基础在途商品寄销品特殊销售合同存货差错产品成本期间成本购货折扣个别认定平均成本FIFOLIFOLIFO准备LIFO 清算美元币值LIFO比较LIFO 各种方法 LIFO的优点LIFO的缺点对存货计价方法的总结Valuation of Inventories:Cost-basis Approach采用哪种成本流转假设？LO 5 Describe and compare th

24、e cost flow assumptions used to account for inventories.如果企业以成本来为其存货定价，而不同单位的采购成本又不同，那么它应该使用哪个成本价格？Answer: 选择一种能够最接近反映期间利润的方法！采用的成本流转假设商品实物流转不一定等同于FIFOWhat Cost Flow Assumption to Adopt?LIFOAverage CostSpecific IdentificationLO 5 Describe and compare the cost flow assumptions used to account for inv

25、entories.个别认定法平均成本法-加权平均法-定期盘存平均成本法-移动平均法-永续盘存每收入一批存货后，都要计算一次新的平均单位成本，以此作为下一次收货之前所有销货的发出成本。4.3=(8000+26400)/(2000+6000)FIFO-先进先出-定期盘存FIFO-先进先出-永续盘存永续盘存和定期盘存的结果一致FIFO下，资产余额与市场价格更贴近LIFO-后进先出-定期盘存与成本的市场价格最为贴近！LIFO-后进先出-永续盘存LIFO下，永续盘存和定期盘存的结果不一致Young & Crazy Company makes the following purchases:One ite

26、m on 2/2/07 for $10One item on 2/15/07 for $15One item on 2/25/07 for $20Young & Crazy Company sells one item on 2/28/07 for $90. What would be the balance of ending inventory and cost of goods sold for the month ended Feb. 2007, assuming the company used the FIFO, LIFO, Average Cost, and Specific I

27、dentification cost flow assumptions? Assume a tax rate of 30%.ExampleCost Flow AssumptionsLO 5 Describe and compare the cost flow assumptions used to account for inventories.Purchase on 2/2/07 for $10Purchase on 2/15/07 for $15Purchase on 2/25/07 for $20Inventory Balance = $ 45Young & Crazy CompanyI

28、ncome StatementFor the Month of Feb. 2007 Sales $ 90 Cost of goods sold 0 Gross profit 90 Expenses: Administrative 14 Selling 12 Interest 7 Total expenses 33 Income before tax 57 Taxes 17 Net Income $ 40Cost Flow Assumptions“First-In-First-Out (FIFO)”LO 5 Describe and compare the cost flow assumptio

29、ns used to account for inventories.Purchase on 2/2/07 for $10Purchase on 2/15/07 for $15Purchase on 2/25/07 for $20Cost Flow AssumptionsInventory Balance = $ 35Young & Crazy CompanyIncome StatementFor the Month of Feb. 2007 Sales $ 90 Cost of goods sold 10 Gross profit 80 Expenses: Administrative 14

30、 Selling 12 Interest 7 Total expenses 33 Income before tax 47 Taxes 14 Net Income $ 33“First-In-First-Out (FIFO)”LO 5 Describe and compare the cost flow assumptions used to account for inventories.Purchase on 2/2/07 for $10Purchase on 2/15/07 for $15Purchase on 2/25/07 for $20Inventory Balance = $ 4

31、5Young & Crazy CompanyIncome StatementFor the Month of Feb. 2007 Sales $ 90 Cost of goods sold 0 Gross profit 90 Expenses: Administrative 14 Selling 12 Interest 7 Total expenses 33 Income before tax 57 Taxes 17 Net Income $ 40Cost Flow Assumptions“Last-In-First-Out (LIFO)”LO 5 Describe and compare t

32、he cost flow assumptions used to account for inventories.Purchase on 2/2/07 for $10Purchase on 2/15/07 for $15Cost Flow AssumptionsInventory Balance = $ 25Purchase on 2/25/07 for $20Young & Crazy CompanyIncome StatementFor the Month of Feb. 2007 Sales $ 90 Cost of goods sold 20 Gross profit 70 Expen

33、ses: Administrative 14 Selling 12 Interest 7 Total expenses 33 Income before tax 37 Taxes 11 Net Income $ 26“Last-In-First-Out (LIFO)”LO 5 Describe and compare the cost flow assumptions used to account for inventories.Purchase on 2/2/07 for $10Purchase on 2/15/07 for $15Purchase on 2/25/07 for $20In

34、ventory Balance = $ 45Young & Crazy CompanyIncome StatementFor the Month of Feb. 2007 Sales $ 90 Cost of goods sold 0 Gross profit 90 Expenses: Administrative 14 Selling 12 Interest 7 Total expenses 33 Income before tax 57 Taxes 17 Net Income $ 40Cost Flow Assumptions“Average Cost”LO 5 Describe and

35、compare the cost flow assumptions used to account for inventories.Purchase on 2/2/07 for $10Purchase on 2/15/07 for $15Purchase on 2/25/07 for $20Inventory Balance = $ 30Cost Flow AssumptionsYoung & Crazy CompanyIncome StatementFor the Month of Feb. 2007 Sales $ 90 Cost of goods sold 15 Gross profit

36、 75 Expenses: Administrative 14 Selling 12 Interest 7 Total expenses 33 Income before tax 42 Taxes 12 Net Income $ 30“Average Cost”LO 5 Describe and compare the cost flow assumptions used to account for inventories.Purchase on 2/2/07 for $10Purchase on 2/15/07 for $15Purchase on 2/25/07 for $20Inven

37、tory Balance = $ 45Young & Crazy CompanyIncome StatementFor the Month of Feb. 2007 Sales $ 90 Cost of goods sold 0 Gross profit 90 Expenses: Administrative 14 Selling 12 Interest 7 Total expenses 33 Income before tax 57 Taxes 17 Net Income $ 40Cost Flow Assumptions“Specific Identification”LO 5 Descr

38、ibe and compare the cost flow assumptions used to account for inventories.Purchase on 2/2/07 for $10Purchase on 2/15/07 for $15Purchase on 2/25/07 for $20Inventory Balance = $ 45Young & Crazy CompanyIncome StatementFor the Month of Feb. 2007 Sales $ 90 Cost of goods sold 0 Gross profit 90 Expenses:

39、Administrative 14 Selling 12 Interest 7 Total expenses 33 Income before tax 57 Taxes 17 Net Income $ 40Cost Flow Assumptions“Specific Identification”Depends which one is soldLO 5 Describe and compare the cost flow assumptions used to account for inventories.Financial Statement SummaryInventory Balan

40、ce302535Cost Flow AssumptionsLO 5 Describe and compare the cost flow assumptions used to account for inventories.Many companies use LIFO 更接近市场价格，税务或外部使用的财务报告中常用FIFO, average cost, or standard cost system 更接近成本，在内部报告中常用原因:Special Issues Related to LIFOLO 6 Explain the significance and use of a LIFO r

41、eserve.LIFO Reserve定价决策簿记更简单利润分成或者其他红利安排使用LIFO，需要估计年末的数量和价格，中期报告时麻烦Special Issues Related to LIFOLO 6 Explain the significance and use of a LIFO reserve.后进先出准备：出于内部报告目的而使用的存货与后进先出法之间的差异 Example:FIFO value per books$160,000LIFO value 145,000LIFO Reserve$ 15,000Cost of goods sold 15,000LIFO reserve 15

42、,000Journal entry to reduce inventory to LIFO:Companies should disclose either the LIFO reserve or the replacement cost of the inventory.传统后进先出法带来的问题：后进先出清算LO 7 Understand the effect of LIFO liquidations.Older, low cost inventory is sold resulting in a lower cost of goods sold, higher net income, an

43、d higher taxes. Special Issues Related to LIFOLO 7 Understand the effect of LIFO liquidations.LIFO LiquidationIllustration 8-20Note the increased price of steel over the 4-year period. Because the company uses LIFO, Basler liquidates the most recent layer, 2010, first, followed by the 2009 layer, an

44、d so on. The result: Basler matches costs from preceding periods against sales revenues reported in current dollars.存货成本是以前的价格，收入是现在的价格特定商品组合的后进先出法按照美元总价值来确定和计量组合中的增加或减少，而非存货组合中商品的实物数量.优点:更广泛范围内的商品都包含在美元币值LIFO组合中.允许替换项目类似、用途类似或可以互相交换的商品.可以防止LIFO存货层减少.Special Issues Related to LIFOLO 8 Explain the do

45、llar-value LIFO method.美元币值后进先出LO 8 Explain the dollar-value LIFO method.The third step:=260,000-200,000非价格下跌导致的存货减少（Inventory decrease not because of price)=60,000-10,000特定商品LIFO - 不现实的，耗费大量的时间金钱.特定商品组合LIFO减轻了簿记成本.更不容易减少存货层.以数量为计量基础的，这将导致不合宜的后进先出清算.美元币值LIFO 被大多数的公司采用. E8-26Special Issues Related to

46、 LIFOLO 8 Explain the dollar-value LIFO method.比较LIFO的各种方法配比税款收益/改善现金流远期收益套期保值 LIFOLO 9 Identify the major advantages and disadvantages of LIFO.优点降低收益低估存货实物流转非自愿清算不良的购买习惯缺点LIFO 通常会被选择:如果销售价格和收入的增长速度快于成本百货公司或者有相对固定的“基本原料”的行业Basis for Selection of Inventory MethodLO 10 Understand why companies select

47、given inventory methods.LIFO 不适用的情况:价格落后于成本一般使用个别认定法的情况随着产量的增加，单位成本呈下降趋势.戴姆勒 克莱斯勒LIFO改为FIFO:交税！辨别存货的主要分类区分定期盘存制与永续盘存制确认存货差错对财务报表的应先理解包含在存货成本中的项目描述并比较存货会计处理中采用的各种成本流转假设解释LIFO准备的重要性以及对它的运用理解LIFO清算的影响理解美元笔试LIFO法辨认LIFO的主要优缺点理解为什么企业要选择特定的存货方法Learning ObjectivesHomeworkE8-1 E8-4 E8-9 E8-6 E8-11 E8-26Inven

48、tory information for Part 686 for the month of June.June 1 Beg. Balance 300 units $10 = $ 3,00010Sold 200 units $2411Purchased 800 units $12 =9,60015 Sold 500 units $2520 Purchased 500 units $13 =6,50027 Sold 300 units $27Example Perpetual and Periodic MethodsCost Flow AssumptionsLO 5 Describe and compare the cost flow assumptions used to account for inventories.Assuming the Per