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FinancialReporting Jackie&Vivian1BriefStudySessionStudySession1-Ethics&Professional10%-StudySession5%-StudySession5%-StudySession5-10%-StudySession7-Corporate5%-StudySession9-Equity10%-StudySession12-e10%-StudySessionDerivative5%-StudySession5%-StudySession16-Portfolio5%-2StudySession1:FINANCIALREPORTING Reading15:EmployeeCompensation:Post-EmploymentandShare- ysis3Brief与2018年相比，2019年FRA的考试权重调整为10%15%与2018年相比，2019年的考纲增加了一个章Reading ysisofFinancialInstitutions4Brief 5Describetheclassification,measurement,anddisclosureunderInternationalFinancialReportingStandards(IFRS)forfinancialassets.DistinguishbetweenIFRSandUSGAAPintheclassification,measurement,anddisclosureoffinancialassets.6IntercorporateinvestmentsinmarketablesecuritiescategorizedasInvestmentsinfinancialassets(hasnosignificantInvestmentsinassociates(hassignificantBusinesscombinations(hascontrolovertheinvesteeJointventures(therightofcontrolissharedby7TheclassificationofPercentageofownershipistypicallyusedtodeterminetheappropriatecategory.However,theownershippercentageisonlyaguideline. y,thecategoryisbasedontheinvestor’sabilityinfluenceorcontrolthe8Noofinterest<20%->Profit/9DefinitionoffinancialTheclassificationbelowonlyappliestoequityordebtinvestmentwithnosignificantinfluence(percentageofinterests<20%):HTMisonlyfordebtAvailableforsalesecurityFairvaluethroughP/L(includingtradingsecuritiesdesignatedatfairGAAPandIFRSarethesameabouttheHeld-to-maturityHeld-to-maturityinvestmentsareinvestmentsinfinancialassetswithfixedordeterminablepaymentsandfixedmaturities(onlydebtsecurities)thattheinvestorhasthepositiveintentandabilitytoholdtomaturity.Held-to-maturityInitialrecognition(similarunderIFRS&USIFRS:recognizedatfairUSGAAP:recognizedatinitialpriceHeld-to-maturitysecuritiesarereportedonthebalanceatamortizedAmortizedcostissimplythepresentvalueofremainingcashflow(coupon&faceFairvaluethroughprofitandHeld-for-tradingsecurities(Equity&Securitiesacquiredwiththeintendtosellthemintheterm.(usuallylessthan3ReportedonthebalancesheetatfairBothrealizedandunrealizedgainandlossarerecognizedinthe estatement.DesignatedatfairDesignatingfinancialassetsatfairvalueregardlesstheholdingintention.ThetreatmentissimilartothatoftradingAvailableforsaleNotclassifiedasheldtomaturityandfairvaluethroughandlossAvailableforsalesecuritiesarereportedonthebalancesheetatfairvalue.Realizedgainandlossarerecognized eUnrealizedgainandlossarerecognizedonequityAccountingtreatmentofavailableforsalesecuritieswhenforeignexchangerateischanging.Next AvailableforSaleForeignexchangerateUSGAAP:AllchangeinfairvalueofavailableforsaleinvestmentsisrecognizedinOCI.Recognizeforeignexchangegainorloss RecognizeotherchangesinfairvalueinRecognizeallchangesoffairvaluein(BothUSGAAPandprofitorG/L(OCI-eAccountingForHTMBondsataeeAccountingForHTMBondsatae-e---Acompanypurchaseda9%bondwithafacevalueof$100,000for$96,209toyield10%.Thecouponpaymentsaremadeannuallyatyearend.Thefairvalueofthebondat oftheyearis$98,500.Determinetheimpactonthefirm’sB/SandI/Sifthebondinvestmentisclassifiedasheld-to-maturity,fairvaluethroughprofitorlossandavailable-ThebalanceThebalancesheetvalueisbasedonamortized($96,209×10%).--eAtyear-end,thebondisreportedonthebalancesheet$96,830($96,209+$9,621-$9,000).---BalanceFairvaluethroughFairvaluethroughprofitandThebalancesheetvalueisbasedonfairvalueof($96,209×10%).--eTheunrealizedgainof$1,670($98,500-$96,209-$621)eThebalancesheetvalueisbasedonfairvalueof($96,209×10%).--eTheunrealizedgainof$1,670($98,500-$96,209-$621)e.Importance:☆☆Theclassification,measurementoffinancialassetsbothIFRSandUSExam掌握IFRS和USGAAP对FinancialAssetsDescribethemeasurement(reclassification)ofinfinancialassetsunderDistinguishbetweenIFRSandUSGAAPin(reclassification)ofinvestmentsinfinancialIFRStypicallydoesnotallowreclassificationofintooroutofthedesignatedatfairvalueReclassificationofinvestmentsoutoftheheld-to-categoryisseverelyrestrictedunderIFRSDebtsecuritiesinitiallydesignatedasavailable-for-salemaybereclassifiedtoheld-to-maturityifachangeinintentionorabilityhasoccurred.Held-to-maturitysecuritiescanbereclassifiedasavailable-for-saleiftheholdernolongerintendsorisnolongerabletoholdthedebttomaturity.U.S.U.S.GAAPallowsreclassificationsofsecuritiesbetweencategorieswhenFairvalueofthesecurityisdeterminedatthedateofThetreatmentofunrealizedholdinggainsandlossesonthetransferdatedependsontheinitialclassificationoftheDesignatedatfairvalueAnytypeofAnytypeRemeasureatfairvalueattransferdate,differencebetweencarryingvalueandfairvaluereportedinO.C.I.SaleasamortizedO.C.I.bal.anddifferencebetweenamortizedcostandmaturityvalueshouldamortizedinI/Sduringremaininglifeofdebtsusingtheeffectiveinterestmethod.Summary–USUnrealizedG/L(differencebetweencarryingvalueandcurrentfairvalue)shouldbereportedinI/S.recognizedinI/Sonthedateofvalueandamortizedcost)reportedinSaleAccumulatedamountinOCIshouldbeamortizedoverremaininglifeofthesecurityasanadj.ofinterest easthesamemanneraspremiumordiscount.Importance:☆☆ThetreatmentofreclassificationofinvestmentsinassetsunderbothIFRSandUSExam定性掌握IFRS和USGAAP对于InvestmentinFinancialIntercorporateIntercorporateImpairmentofFinancialDescribethemeasurement(impairment)investmentsinfinancialassetsunderDistinguishbetweenIFRSandUSGAAPinmeasurement(impairment)ofinvestmentsinfinancialImpairmentImpairmentofFinancialBothU.S.GAAPandU.S.GAAPandIFRSrequirethatheldtomaturityandavailableforsalesecuritiesbeevaluatedforimpairmentateachreportingperiod.It’snotnecessaryforfairvaluethroughprofitandlosssecuritiesbecausedeclinesintheirvaluearerecognizedonthe estatementastheyoccur.ImpairmentImpairmentofFinancialUnderIFRS(ImpairFordebtsecurity,impairmentisindicatedifatleastonelosseventshasoccurred,anditseffectonthesecurity’sfuturecashflowscanbeestimatedreliably.Lossesduetooccurrencesoffutureevents(regardlessoftheprobabilityofoccurrence)arenotImpairmentImpairmentofFinancialUnderIFRS(ImpairForthedebtsecurity,thelosseventsareTheissuerexperiencessignificantfinancialDefaultordelinquencyininterestorTheborrowerencountersfinancialdifficultyandreceivesaconcessionfromthelenderasaresult; esprobablethattheborrowerwillbankruptcyorotherfinancial ImpairmentImpairmentofFinancialUnderIFRS(ImpairForthedebtsecurity,thefollowingeventsarenotbyitselfevidenceofimpairment:ThelackofanactiveAdowngradeofanentity’screditratingoradeclineinfairvalueofasecuritybelowitscostoramortizedImpairmentImpairmentofFinancialUnderIFRS(ImpairFortheequitysecurity,impairmentisindicatedifatleastonelosseventshasoccurred:Significantchangesinthetechnological,market,economic,and/orlegalenvironmentsthatadverselyaffecttheinvesteeandindicatethattheinitialcostoftheequityinvestmentmaynotberecovered.Asignificantorprolonged持续性的declineinfairvalueofanequityinvestmentbelowitsImpairmentImpairmentofFinancialUnderIFRS(MeasurementofImpairmentofheldtomaturityImpairedifitscarryingvalue>PVofcash(expectedImpairmentlossisrecognized eIftherecoverycanbeattributedtoanevent(eg:creditupgrade),theimpairmentlosscanbeImpairmentImpairmentofFinancialUnderIFRS(MeasurementofImpairmentofavailableforsaleImpairedifitscarryingvalue>fairImpairmentlossisrecognized eImpairmentlossesonAFSdebtsecuritiescanbereversedifasubsequentincreaseinfairvaluecanbeobjectivelyrelatedtoaneventoccurringaftertheimpairmentlosswasrecognizedinprofitorloss.ImpairmentlossesonAFSequitysecuritiesbereversedthroughprofitor ImpairmentImpairmentofFinancialUnderIFRS(MeasurementofImpairmentofavailableforsaleCumulativelossinOCIisreclassified Cumulativeloss=Acquisitioncost–currentfairvalue–impairmentlossthathaspreviouslybeenrecognizedin estatement.ImpairmentImpairmentofFinancialUnderU.S.Asecurityisconsideredimpairedifitsdeclineinvalueisdeterminedtobeotherthantemporary.Forbothheldtomaturityandavailableforsalesecurities,thewritedowntofairvalueistreatedasarealizedloss.(recognizedonthe estatement).AsubsequentreversalofimpairmentlossesisnotForASFsecurities(bothdebtandequity),subsequentchangesinfairvaluearetreatedasunrealizedgainsorlossesandincludedinOCI.Importance:☆☆ThetreatmentofimpairmentofinvestmentsinfinancialassetsunderbothIFRSandUSGAAP.Exam掌握IFRS和USGAAP对于InvestmentinFinancialIntercorporateIntercorporateInvestmentinFinancialAssets:IFRSDescribetheclassification,measurementandreclassificationofinvestmentinfinancialassetsunderIFRS9.IFRSIFRS9(NewIFRS9(NewIFRS9doesawaywiththetermsheldfortrading,availableforsale,andheldtomaturity.Instead,thethreeclassificationsare:FairvaluethroughprofitorlossFairvaluethroughothercomprehensive IFRSIFRS9(NewIFRS9(NewAmortizedcost(Debtonly),2Businessmodeltest:DebtsecuritiesarebeingheldcollectcontractualcashCashflowcharacteristictest:ThecontractualcashflowsaresolelypaymentsofprincipalandinterestonIFRSIFRS9(NewIFRS9(NewFVPL(Debt&Debt:HeldfortradingorifrecognizedascostwillresultsinanaccountingEquity:HeldfortradingmustbeclassifiedasFVPL;OthersmaybeclassifiedaseitherFVPLorFVOCI,FVOCI(Debt&SameasavailableforsaleSummaryofIFRSImportance:IFRS9对FinancialAssetsExamInvestmentinDescribetheclassification,measurement,anddisclosureunderInternationalFinancialReportingStandards(IFRS)forInvestmentinAssociates.DistinguishbetweenIFRSandUSGAAPintheclassification,measurement,anddisclosureofInvestmentinAssociates.DefinitionofDefinitionofWhenacompanyholds20%-50%ofthevotingrightsofanassociate,itispresumedthatthecompanyhassignificantinfluence,butnotcontrol,overtheinvestee’sbusinessactivities.Representationon ofParticipationinthepolicy-makingMaterialtransactionsbetweentheinvestorandtheInterchangeof EquityEquityMethodofTheequityinvestmentisinitiallyrecordedontheinvestor’sbalancesheetatcost.Insubsequentperiods,thecarryingamountoftheinvestmentisadjustedtorecognizetheinvestor’sproportionateshareoftheinvestee’searningslosses,andtheseearningsorlossesarereported DividendsorotherdistributionsreceivedfromtheinvesteearetreatedasareturnofcapitalandreducethecarryingamountoftheinvestmentandnotreportedintheI/S.One–line EquityEquity的会计处理 规律表B/S-I/S-Equity1Purchase ;2% ;3% 4%Depreciation=(FV-5%RPTUnrealized EquityMethodofDecember31,20X5,CompanyAinvests$1,000inreturnfor30%ofthecommonsharesofCompanyB.During20X6,CompanyBearns$400andpaysdividendsof estatementandcashflowfor EquityMethodofAccountingRecognize$120($400×30%)intheI/Sfromitsproportionateshareofthenet eofCompanyB.Increaseitsinvestmentaccountonthebalancesheetby$120$1,120toreflectitsproportionateshareofthenetassetsofReceive$30($100×30%)incashdividendsfromCompanyBandreduceitsinvestmentinCompanyBbythatamounttoreflectthedeclineinthenetassetsofCompanyBduetothedividendpayment. of20X6,thebookvalueoftheinvestmentonA’sB/S=$1,000+$120-$30=EquityInvestmentCostsThatExceedtheBookValueoftheAcquisitioncostisinitiallyrecognizedasinvestmentassociate,andcomprisesoftwoFairvalueofthenetassetsGoodwill(NotamortizedbutneedtotestforThedifferencebetweenfairvalueandbookvalueofthenetassetsacquiredwilladjusttheI/Sofinvestor’s Notsimplyequalstothenet eearnedbyinvesteemultipliedbypercentageofinterestsowned.EquityInvestmentCostsThatExceedtheBookValueoftheGoodwillisrenewedforimpairmentonaregularThispartisamortizedtotheinvestee’sprofitorlossovereconomiclives.InvestmentCostsThatExceedtheBookValueoftheAtthebeginningoftheyear,ACompanypurchased30%ofBCompanyfor$80,000.NetassetofcompanyBinbookvalueis$200,000.Ontheacquisitiondate,thebookvalueofB’sassetsandliabilitieswerethesameexceptforB’sequipment,whichhadabookvalueof$25,000andafairvalueof$75,000ontheacquisitiondate.B’sequipmentisdepreciatedovertenyearsusingthestraight–linemethod.Atoftheyear,Breported eof$100,000andpaiddividendsQuestionQuestionA:CalculatetheGoodwill=Purchaseprice–Fairvalueofthenet=Purchaseprice–(BookvalueofthenetassetsAppreciationofthe=$80,000–[$200,000x30%+($75,000FV-$25,000BV)x30%]QuestionB: panyA’sequity eat theyearfromitsinvestmentinCompanyB. e=ProportionateshareofB’s e– e=($100,000x30%)–(Excess/10)=Excess=($75,000-$25,000)x30%=Investmentbalanceatendofyear=Investmentbalanceatofyear+e–DividendspayInvestment=$80,000+$28,500=e)–($60,000xFairValueBothIFRSandUSGAAPgivetheinvestortheoptiontoaccountfortheirequitymethodinvestmentatfairvalue.BothstandardsrequirethattheelectiontousethefairvalueoptionoccuratthetimeofinitialrecognitionandisTheinvestmentisreportedatfairvaluewithunrealizedgainsandlossesarisingfromchangesinfairvalueaswellasanyinterestanddividendsreceivedincludedintheinvestor’sprofitorloss.FairValueBothIFRSandUSGAAPgivetheinvestortheoptiontofortheirequitymethodinvestmentatfairvalue.Underthefairvaluemethod,theinvestmentaccountontheinvestor’sbalancesheetdoesnotreflecttheinvestor’sproportionateshareoftheinvestee’sprofitlossorInaddition,theexcessofcostoverthefairvalueoftheinvestee’sidentifiablenetassetsisnotamortized,norisgoodwillcreated.Importance:☆☆☆Theclassification,measurementofinvestmentinunderbothIFRSandUSEquityMethodB/S，I/S的相关处理Exam定量掌握关联企业投资的计量方法——Equity简单了解FairValueOptionAdjustmentsofEquityDescribeandDistinguishtheimpairmentforinvestmentassociatesunderbothIFRSandUSDescribethetransactionswithassociatesundermethodforinvestmentinImpairmentofEquityTheentirecarryingamountoftheinvestmentistestedforimpairmentbycomparingitsrecoverableamountwithitscarryingamount.Recoverableamountofanassetisthehigherofitsvaluelesscoststosellanditsvalueinuse.Theimpairmentlossisrecognizedonthe estatement,andthecarryingamountoftheinvestmentonthebalancesheetiseitherreduceddirectlyorthroughtheuseofanallowance ImpairmentofEquityUSIfthefairvalueoftheinvestmentdeclinesbelowitscarryingvalueandthedeclineisdeterminedtobepermanent,animpairmentlosstoberecognizedonthe estatementandthecarryingvalueoftheinvestmentonthebalancesheetisreducedtoitsfairvalue.BothUSGAAPandIFRSprohibitthereversaloflossesevenifthefairvaluelaterUpstream(associatetoinvestorTheprofiton panytransactionisrecordedon eTheinvestor’sshareoftheunrealizedprofitisthusincludedinequity eontheinvestor’s Investormustreduceits eofinvesteeinvestor’sproportionateshareoftheunconfirmedUnconfirmedprofitmeansgoodshavenotbeenusedsoldbythe ExampleofUpstreamUpstream(associatetoinvestorSupposethatInvestorowns30%ofInvestee.Duringtheyear,InvesteesoldgoodstoInvestorandrecognized$15,000ofprofitfromthesale.Atyearend,halfofthegoodspurchasedfromInvesteeremainedinInvestor’sInvestormustreduceits eby($15,000x50%)x30%=OncetheinventoryissoldbyInvestor,$2,250ofequity willberecognized.Downstream(investortoassociateTheinvestorhasrecognizedalloftheprofitin Theinvestor iminatetheproportionateshareofprofitthatisExampleofDownstream SupposethatInvestorowns30%ofInvestee.Duringtheyear,Investorsold$40,000ofgoodstoInvesteefor$50,000.Investeesold90%ofthegoodsbyyear–end.Investor’sprofitis$10,000($50,000sales-$40,000 ebytheproportionateshare$10,000profitx10%unconfirmedamountx30%=recognized$300ofyticalIssuesForEquity ystsshouldquestionwhethertheequitymethodisSignificantinfluenceorTherecanbesignificantassetsandliabilitiesoftheinvesteethatarenotreflectedontheinvestor’sbalancesheet,whichwillsignificantlyaffectdebtratios.Netmarginratioscouldbeoverstatedbecause efortheassociateisincludedininvestornet ebutisnotspecificallyincludedinsales. ystmustconsiderthequalityofthemethodImportance:☆☆☆Impairment(USGAAP&TransactionswithAssociates(upstream&Exam掌握EquityMethod减值的计量方法(IFRSvs.US重点理解使用EquityMethod对于B/S&I/S以及ratio

Describetheclassification,measurement,anddisclosureunderInternationalFinancialReportingStandards(IFRS)forBusinesscombinations.DistinguishbetweenIFRSandUSGAAPintheclassification,measurement,anddisclosureofBusinesscombinations.际控

不产生产生AcquisitionAcquisition（PPFVBV子时BalanceeAA–PPALL子=LEMI=EMI1*FV

SalesSalesSalesExp +Exp =ExpEBIT +EBIT =EBIT-MI [注：MI=(1-%)*NI子]NI母 +%NI子=NI合问题合并后的报表平母+子 L母E母+子问题二题目给出以下四列，合并时选取哪两列数字 问题时，用的不是现金，而是增 方式，怎么处理 par AdditionalPaid-in问题 怎么处理问题如果PP>FV子 Goodwill怎么处理Goodwill：一般计算法USGAAP:Full

FullGoodwill2)计算方被收购企业收购80%收购100%PartialGoodwill=800–400=FullGoodwill=1000–500=计算方P.F.

MIP=(1-%)*FVMIF=(1-%)*

子减IFRS:CarryingValueVsRecoverableUS：Step1–Testing：CarryingValueVsFairValue（Unit）Step2–Calculation：CarryingValueVsFairValue（GW）减值后的转2种准则下均不能转5）商誉减值为0后的后续处:US：GW减为0后，不再减记其他资DefinitionofBusinessBusinesscombinations(controllinginterestinvestments)involvethecombinationoftwoormoreentitiesintoalargereconomicentity.UnderIFRS,thereisnodistinctionamongbusinesscombinationsbasedontheresultingstructureofthelargereconomicentity.UnderUSGAAP,businesscombinationsarecategorizedMerger吸收合并Acquisition收购Consolidation(新设合并 Merger吸收合并Thedistinctivefeatureofamergeristhatonlyoneoftheentitiesremainsinexistence.Onehundredpercentofthetargetisabsorbedintotheacquiringcompany.(Acquire100%oftheCompanyA+CompanyB=Company(Eachentitycontinuesoperationsbutisconnectedthroughaparent–subsidiaryrelationship.Eachentityisanindividualthatmaintainsseparatefinancialrecords,buttheparent(theacquirer)providesconsolidatedfinancialstatementsineachreportingperiod.CompanyA+CompanyB=(CompanyA+CompanyThedistinctivefeatureofaconsolidationisthatanewlegalentityisformedandnoneofthepredecessorentitiesremaininexistence.AnewentityiscreatedtotakeoverthenetassetsofCompanyAandCompanyB.(Acquire100%oftheCompanyA+CompanyB=CompanyPooling-of-InterestsMethod(USGAAP,PriortoJuneCombiningcompaniesthatmettwelvestrictcriteria.CompaniesnotmeetingthesecriteriausedthepurchaseThetarget’sassetsandliabilitiesarestatedattheirbookintheconsolidatedfinancialsOperatingresultsforpriorperiodsarerestatedasthoughthetwofirmswerealwayscombined.SimilarrulesappliedunderIFRS,whichusedthetermofinterestsmethod.(IFRS,PriortoMarchCurrently,neitherIFRSnorUSGAAPallowsuseoftheorunitingofinterests PurchaseMethod(USGAAP&TheassetsandliabilitiesacquiredbytheParentshouldstatedatfairvalueintheconsolidatedfinancialsAnincreaseinthevalueofdepreciableassetsresultedinadditionaldepreciationexpense.Asaresult,forthesamelevelofrevenue,thepurchasemethodresultedinlowerreportedethanthepoolingofinterestsNow,theacquisitionmethodwhichreplacesthepurchasemethodisrequiredinbothUSGAAPandIFRS.AcquisitionMethod(USGAAP&Alloftheassets,liabilities,revenues,andexpensesofthesubsidiaryarecombinedwithparent.panytransactionsareTheacquisitionmethodaddressesthreemajoraccountingissuesthatoftenariseinbusinesscombinations.Therecognitionandmeasurementoftheassetsandliabilitiesofthecombinedentity.TheinitialrecognitionandsubsequentaccountingforTherecognitionandmeasurementofanynon- SupposethatonJanuary1st,2016,CompanySupposethatonJanuary1st,2016,CompanyAacquires80%ofthecommonstockofCompanyBbypaying$8,000incashtotheshareholdersofCompanyB.Thepre-acquisitionbalancesheetofCompanyAandCompanyBareshownB/SCompanyACompanyAPost-CompanyBOther32,000+Inanacquisition,theassetsandliabilitiesareInanacquisition,theassetsandliabilitiesareUndertheequitymethod,CompanyAwillreportits80%interestcompanyBinaone-lineinvestmentaccountonthebalanceB/SAcquisitionMethodEquityMethodCurrentOtherCurrentCommonMinorityRetainedMinorityAminorityinterest(少数股东权益istheportionofsubsidiary’sequitythatisheldbythirdWhenCompanyAreports100%ofCompanyB’sassetsandliabilitieseventhoughCompanyAonlyowns80%.Theremaining20%ofCompanyBisownedbyminorityinvestorsandthedifferenceisaccountedforusingaminorityinterestMinorityinterest=20%x )=AmorecomplicatedexampleofcombinationCompanyAacquired100%interestofCompanyB,theconsideration收购对价is:Acquirer::B/SB/S(Post-Goodwill=500(560-180)=0000000Total-FV000TotalL+RecognitionandMeasurementofIFRSallowstwooptionsforrecognizingFullgoodwill=FairvalueofequityofwholesubsidiaryfairvalueofnetidentifiablenetassetsofthePartialgoodwill=Purchaseprice-%OwnedxFairvaluenetidentifiableassetsoftheUSGAAPallowsfullgoodwillmethod*Fairvalueofnetidentifiablenetassetsofthesubsidiary=fairvalueofallidentifiabletangibleandintangibleassets,liabilities,andcontingent B/SBookValueCompanyApaid$450millionfor75%oftheB/SBookValueThefairvalueofthePP&Ewas$120millionmorethanitsrecordedbookvalue.Thefairvaluesofallotheridentifiableassetsandliabilitieswereequaltotheirrecordedbookvalue.Fairvalueofthesubsidiary=450/0.75=600 =80+(760+120)–400=560Acquisitiongoodwill=600–560=40Purchaseprice=450Proportionateshareofthefairvalueofidentifiablenet =0.75x560=420Acquisitiongoodwill=450–420=30MeasurementofMinorityGoodwillislowerusingthepartialgoodwillmethod.HowthisreflectedonliabilitiesandequitysideofthebalanceUnderfullgoodwillmethod,minorityinterestisbasedontheacquiredcompany’sfairvalue.600x25%=150Underpartialgoodwillmethod,minorityinterestisbasedthefairvalueoftheacquiredcompany’sidentifiablenet560x25%=140Thefullgoodwillmethodresultsinhighertotalassets,highertotalequityandlowerROEthanthepartialgoodwillmethod.

ImpairmentofAlthoughgoodwillisnotamortized,itmustbetestedforimpairmentatleastannually.UnderIFRS,ifthecarryingamountofthecashgeneratingunitexceedstherecoverableamount,animpairmentlossisrecognized.(singlestepapproach)UnderUSGAAP,goodwillimpairmentinvolvestwoImpairmentexistsifthecarryingvalueoftheunit(includingthegoodwill)exceedsitsfairThelossismeasuredasthedifferencebetweenthecarryingvalueandimpliedfairvalueofthegoodwill.

ExampleofGoodwillAreportingunitofaUScorporationhasafairvalueof$1,300,000andacarryingvalueof$1,400,000thatincludesrecordedgoodwillof$300,000.Theestimatedfairvalueoftheidentifiablenetassetsofthereportingunitattheimpairmenttestdateis$1,200,000.(Therecoverableamountofthecash-generatingunitisdeterminedtobe€1,300,000.)Calculatetheimpairmentloss.UnderRecoverableamountofunit<CarryingamountofImpairmentloss=1.3m–1.4m=ExampleofGoodwillImpairmentinUSUnderUSStep1–DeterminationofanImpairment$1,300,000(Fairvalueofunit)<$1,400,000(CarryingStep2–MeasurementoftheImpairmentFairvalueofunit–fairvalueofnetidentifiable=$1,300,000-=$100,000(ImpliedImpairmentloss=CarryingvalueofGW–Implied=$300,000-=Inrarecase,acquisitionpurchasepriceislessthanthefairvalueofnetassetacquired.BothIFRSandUSGAAPrequirethatthedifferencebetweenfairvalueofnetassetsandpurchasepriceberecognizedasgaininthe estatement. eI/SCompanyACompanyB I/SEquityI/SEquityMethodeeMinorityeSummaryofAcquisitionMethod–SomeitemsmightbeadjustedduetothefairCOGSisadjustedtoreflectthefairvalueofinventoryoftargetpriortoDepreciationisadjustedtoreflectthefairvalueofPP&Eofthetargetpriortoacquisition.(thesamemethodforIntangibleAssets)SummaryofAcquisitionMethod–SomeitemsmightbeadjustedduetothefairadjustmentMinorityinterestiscreatedbymultiplyingthe ebythepercentageofthesubsidiarynotMinorityinterestissubtractedinarrivingconsolidated GoodwillisnotB/SCompany(Post-0000000TotalFV000TotalL+ExampleofAcquisitionMethod–RemainingusefullivesofPP&Eoftargetcompanyare10调整公允价值后的固定资产会增加额外折旧：50/10=Remainingusefullivesofintangibleassetsare10调整公允价值后的无形资产会增加额外摊销：100/10=B/STargetFairAdjustmentB/STargetFairAdjustmentDep.ofAmort.of00 (Fullgoodwillandpartialgoodwillmethod(IFRS&USImpairmentofgoodwill(IFRS&USExamJointVentures,SPE&Describetheclassification,measurement,anddisclosureunderInternationalFinancialReportingStandards(IFRS)forJointVentures,SPE&VIE.DistinguishbetweenIFRSandUSGAAPintheclassification,measurement,anddisclosureofJointVentures,SPE&VIE.DefinitionofJointDefinitionofJointVenturesundertakenandcontrolledbytwoormoreIFRSidentifythefollowingcommoncharacteristicsofjointAcontractualarrangementexistsbetweentwoorThecontractualarrangementestablishesjointBothIFRSandUSGAAPrequiretheequitymethodofaccountingforjointventures.DefinitionofDefinitionofSpecialPurposeSpecialpurposeentities(SPEs)areenterprisesthatarecreatedtomodatespecificneedsofthesponsoringentity.AnSPEcantaketheformofacorporation,partnership,jointventure,ortrust,thetypicalmotivationistoreduceriskandtherebylowerthecostoffinancing.SPEsareoftenstructuredsuchthatthesponsorcompanyhascontroloveritsfinancing/operatingactivitieswhilethirdpartieshavecontrollinginterestintheSPE’sequity.AccordingtoIFRS10,thesponsoringentitymustconsolidateifcontrolsthe

DefinitionofTheFASBusesthetermvariableinterestentity(VIE)describeaspecialpurposeentitythatmeetscertainAt-riskequityisinsufficienttofinancetheentity’sactivitieswithoutadditionalfinancialsupport.EquityinvestorslackanyoneoftheTheabilitytomakeTheobligationtoabsorbTherighttoreceiveIfanSPEisconsideredaVIE,itmustbeconsolidatedbytheprimarybeneficiarythatabsorbsthemajorityoftheriskand

SPE&ThebasisissueinregardingwithVIEorSPEistoconsiderwhetheritshouldbeconsolidatedbythePrimaryBeneficiary.Inmostcases,thecreator/sponsoroftheentityretainsasignificantbeneficialinterestintheSPEeventhoughitmayownlittleornoneoftheSPE’svotingequity.ConsolidationofVIEorSPEwillsignificantlyaffectthefinancialstatementsandratios.DefinitionofSPE&VIE知晓SPE&VIE的合并规定ExamysisofFinancial yzehowdifferentmethodsusedtoaccountforintercorporateinvestmentsaffectfinancialstatementsandAcquisitionvs.EquityTherearefourimportanteffectsonthebalancesheetand statementitemsthatresultfromthechoiceofaccountingmethod.Allmethodsreportthesame Underacquisitionmethod,equitywillbehigherbyamountofminorityAssetsandliabilitiesarehigherundertheacquisitionRevenuesandexpensesarehigherundertheAcquisitionvs.EquityNetprofitHigher-salesarelowerandnet isthesameHigher–equityislowerandnet isthesameHigher–net thesameandassetsarelower

AdditionalIssuesinAdditionalissuesinbusinessIn-processIFRSandU.S.GAAPrecognizeIPR&Dacquiredinabusinesscombinationasaseparateintangibleassetandmeasureitatfairvalue.InsubsequentperiodsR&Dissubjecttoamortizationcompletionifsuccessfullycompletedorimpairmentifnoproductresults.AdditionalIssuesinAdditionalissuesinbusinesscombinationsRestructuringIFRSandUSGAAPdonotrecognizerestructuringcoststhatareassociatedwiththebusinesscombinationaspartofthecostoftheacquisition.Instead,theyarerecognizedasanexpenseintheperiodstherestructuringcostsareincurred.Importance:☆☆AcquisitionvsEquityMethod重点辨析I/