Chap会计学基础实用

会计学1Chap会计学基础实用HowMuchCashShouldaBusinessHave?CashShort-termInvestmentsReceivablesFinancialAssets第1页/共62页HowMuchCashShouldaBusinessHave?AccountsreceivableMarketablesecurities(short-terminvestments)Cash(andcashequivalents)CollectionsfromcustomersCashpayments“Excess”cashisinvestedtemporarilyInvestmentsaresoldascashisneeded第2页/共62页TheValuationofFinancialAssetsEstimatedcollectibleamount第3页/共62页CashCoinsandpapermoneyChecksMoneyordersTravelers’checksBankcreditcardsalesCashisdefinedasanydepositbankswillaccept.第4页/共62页CombinedwithcashonbalancesheetReportingCashintheBalanceSheetLiquidshort-terminvestmentsStablemarketvaluesMatureswithin90daysofacquisitionCashEquivalents第5页/共62页NotavailableforpayingcurrentliabilitiesReportingCashintheBalanceSheetNotacurrentassetListedasaninvestment“Restricted”Cash第6页/共62页Bankagreesinadvancetolendmoney.ReportingCashintheBalanceSheetLiabilityisincurredwhenlineofcreditisused.Unusedlineofcreditisdisclosedinnotes.LinesofCredit第7页/共62页TheStatementofCashFlowsSummarizescashtransactionsforanaccountingperiod.StatementofCashFlowsIncludescashandcashequivalents.第8页/共62页CashManagementAccuratelyaccountforcash.Preventtheftandfraud.Assuretheavailabilityofadequateamountsofcash.Avoidunnecessarilylargeamountsofidlecash.第9页/共62页UsingExcessCashBalancesEfficientlyCashavailableforlong-terminvestmentmaybeusedtofinancegrowthandexpansionofthebusiness,ortorepaydebt.Cashnotneededforbusinesspurposesshouldbedistributedtothecompany’sstockholders.第10页/共62页InternalControlOverCashSegregateauthorization,custodyandrecordingofcash.Prepareacashbudget.Prepareacontrollistingofcashreceipts.Requiredailydeposits.Makeallpaymentsbycheck.Verifyeveryexpenditurebeforepayment.Promptlyreconcilebankstatements.第11页/共62页CashOverandShortCashOverandShortisdebitedforshortagesandcreditedforoverages.OnMay5,XBAR,Inc.’scashdrawerwascountedandfoundtobe$10over.第12页/共62页BankStatementsShowsthebeginningbankbalance,depositsmade,checkspaid,otherdebitsandcreditsinthemonth,andtheendingbankbalance.BankStatement第13页/共62页ReconcilingtheBankStatementExplainsthedifferencebetweencashreportedonbankstatementandcashbalanceindepositor’saccountingrecords.Providesinformationforreconcilingjournalentries.第14页/共62页ReconcilingtheBankStatement

BalanceperBank+DepositsinTransit-OutstandingChecks±BankErrors=AdjustedBalance

BalanceperDepositor+DepositsbyBank(creditmemos)-ServiceCharge-NSFChecks±BookErrors=AdjustedBalance第15页/共62页ReconcilingtheBankStatementAllreconcilingitemsonthebooksiderequire

anadjustingentrytothecashaccount.

BalanceperDepositor+DepositsbyBank(creditmemos)-ServiceCharge-NSFChecks±BookErrors=AdjustedBalance第16页/共62页ReconcilingtheBankStatementPrepareaJuly31bankreconciliationstatementandtheresultingjournalentriesfortheSimmonsCompany.TheJuly31bankstatementindicatedacashbalanceof$9,610,whilethecashledgeraccountonthatdateshowsabalanceof$7,430.Additionalinformationnecessaryforthereconciliationisshownonthenextpage.第17页/共62页Outstandingcheckstotaled$2,417.A$500checkmailedtothebankfordeposithadnotreachedthebankatthestatementdate.Thebankreturnedacustomer’sNSFcheckfor$225receivedaspaymentofanaccountreceivable.Thebankstatementshowed$30interestearnedonthebankbalanceforthemonthofJuly.Check781forsuppliesclearedthebankfor$268butwaserroneouslyrecordedinourbooksas$240.A$486depositbyAcmeCompanywaserroneouslycreditedtoouraccountbythebank.第18页/共62页ReconcilingtheBankStatement第19页/共62页ReconcilingtheBankStatement第20页/共62页Usedforminorexpenditures.PettyCashFundsHasonecustodian.Replenishedperiodically.PettyCashFunds第21页/共62页Short-TermInvestmentsBondInvestmentsCapitalStockInvestmentsCurrentAssetsAlmostAsLiquidAsCashReadilyMarketableMarketableSecuritiesare...第22页/共62页APrincipleofAssetValuationMostshort-terminvestmentsinmarketablesecuritiesareclassifiedasavailableforsaleandappearonthebalancesheetattheircurrentmarketvalue.第23页/共62页Let’sturnourattentiontoaccountsreceivable.第24页/共62页UncollectibleAccountsIfacompanymakescreditsalestocustomers,someaccountsinevitablywillturnouttobeuncollectible.PASTDUE第25页/共62页ReflectingUncollectibleAccountsintheFinancialStatementsAttheendofeachperiod,recordanestimateoftheuncollectibleaccounts.Contra-assetaccountSellingexpense第26页/共62页TheAllowanceforDoubtfulAccountsThenetrealizablevalueistheamountofaccountsreceivablethatthebusinessexpectstocollect.第27页/共62页WritingOffanUncollectibleAccountReceivableWhenanaccountisdeterminedtobeuncollectible,itnolongerqualifiesasanassetandshouldbewrittenoff.第28页/共62页WritingOffanUncollectibleAccountReceivableAssumethatonJanuary5,K-MaxdeterminedthatJasonClarkwouldnotpaythe$500heowes.K-Maxwouldmakethefollowingentry.第29页/共62页WritingOffanUncollectibleAccountReceivableAssumethatbeforethisentry,theAccountsReceivablebalancewas$10,000andtheAllowanceforDoubtfulAccountsbalancewas$2,500.Let’sseewhateffectthewrite-offhadontheseaccounts.第30页/共62页WritingOffanUncollectibleAccountReceivableNoticethatthe$500write-offdidnotchangethenetrealizablevaluenordiditaffectanyincomestatementaccounts.第31页/共62页MonthlyEstimatesofCreditLossesAttheendofeachmonth,managementshouldestimatetheprobableamountofuncollectibleaccountsandadjusttheAllowanceforDoubtfulAccountstothisnewestimate.TwoApproachestoEstimatingCreditLosses:BalanceSheetApproachIncomeStatementApproach第32页/共62页EstimatingCreditLosses—TheBalanceSheetApproach

Year-endAccountsReceivableisbrokendownintoageclassifications.

Eachagegroupinghasadifferentlikelihoodofbeinguncollectible.

Computeaseparateallowanceforeachagegrouping.第33页/共62页EstimatingCreditLosses—TheBalanceSheetApproachAtDecember31,2005,thereceivablesforEastCo,Inc.werecategorizedasfollows:

第34页/共62页EstimatingCreditLosses—TheBalanceSheetApproachAtDecember31,2005,thereceivablesforEastCo,Inc.werecategorizedasfollows:

第35页/共62页EstimatingCreditLosses—TheBalanceSheetApproachAtDecember31,2005,thereceivablesforEastCo,Inc.werecategorizedasfollows:

第36页/共62页EastCo’sunadjustedbalanceintheallowanceaccountis$500.Perthepreviouscomputation,thedesiredbalanceis$1,350.EstimatingCreditLosses—TheBalanceSheetApproach第37页/共62页Let’slookatanotherwaytoestimatecreditlosses!第38页/共62页EstimatingCreditLosses—TheIncomeStatementApproachUncollectibleaccounts’percentageisbasedonactualuncollectibleaccountsfromprioryears’creditsales.FocusisondeterminingtheamounttorecordontheincomestatementasUncollectibleAccountsExpense.第39页/共62页EstimatingCreditLosses—TheIncomeStatementApproach第40页/共62页EstimatingCreditLosses—TheIncomeStatementApproachIn2005,EastCohadcreditsalesof$60,000.Historically,1%ofEastCo’screditsaleshasbeenuncollectible.For2005,theestimateofuncollectibleaccountsexpenseis$600.($60,000×.01=$600)Now,preparetheadjustingentryforDecember31,2005.第41页/共62页EstimatingCreditLosses—TheIncomeStatementApproach第42页/共62页UncollectibleAccounts

SummaryAgingofReceivablesEmphasisonRealizableValueAccts.Rec.All.forDoubtfulAccts.BalanceSheetFocus%ofCreditSalesEmphasisonMatchingSalesUncoll.Accts.Exp.IncomeStatementFocus第43页/共62页ConcentrationsofCreditRiskConcentrationsofcreditriskoccurifasignificantportionofacompany’sreceivablesareduefromafewmajorcustomersorfromcustomersoperatinginthesameindustryorgeographicregion.TheFASBrequiresdisclosureofallsignificantconcentrationsofcreditriskinthenotestothefinancialstatements.第44页/共62页RecoveryofanAccountReceivablePreviouslyWrittenOffSubsequentcollectionsrequirethattheoriginalwrite-offentrybereversedbeforethecashcollectionisrecorded.第45页/共62页DirectWrite-OffMethodThismethodmakesnoattempttomatchrevenueswiththeexpenseofuncollectibleaccounts.第46页/共62页IncomeTaxRegulationsandFinancialReportingDirectwrite-offmethodrequiredtocalculatetaxableincome.TaxableIncomeFinancialStatementIncomeGAAPGAAPGAAPGAAPAllowancemethodsbettermatchexpenseswithrevenues.第47页/共62页InternalControlsforReceivableSeparatethefollowingduties:Maintenanceoftheaccountsreceivablesubsidiaryledger.Custodyofcashreceipts.Authorizationofaccountsreceivablewrite-offs.第48页/共62页ManagementofAccountsReceivableCreditTermsMinimizeAccountsReceivableExtendingcreditencouragescustomerstobuyfromus......butittiesupresourcesinaccountsreceivable.第49页/共62页ManagementofAccountsReceivableFactoringAccountsReceivableCreditCardSales第50页/共62页Apromissorynoteisanunconditionalpromiseinwritingtopayondemandoratafuturedateadefinitesumofmoney.NotesReceivableandInterestRevenueMaker—thepersonwhosignsthenoteandtherebypromisestopay.Payee—thepersontowhompaymentistobemade.第51页/共62页PROMISSORYNOTELocation

Dateafterthisdatepromisestopaytotheorderofthesumofwithinterestattherateofperannum.

signed

titleMiami,FlNov.1,2005NinetydaysPorterCompanyJohnCaldwellHallCompany$10,000.0012.0%CFO,PorterCompanyNotesReceivableandInterestRevenuePorterCompanyisreplacinganexistingAccountsReceivablewiththisNoteReceivablewithHallCompany.第52页/共62页OnNovember1,2005,HallCompanywouldmakethefollowingentry.NotesReceivableandInterestRevenue第53页/共62页Interest

isachargemadefortheuseofmoney.Theborrowerincursinterestexpense.Thelenderearnsinterestrevenue.Interestratesdown!NotesReceivableandInterestRevenueLender第54页/共62页

Theinterestformulaincludesthreevariables:Interest=Principal×InterestRate×TimeWhencomputinginterestforoneyear,“Time”