高级财务会计（英文版第13版）课件 第11章 合并理论、下推会计和公司合营

AdvancedAccountingThirteenthEditionChapter11ConsolidationTheories,

Push-DownAccounting,andCorporateJointVenturesCopyright©2018,2015,2012PearsonEducation,Inc.AllRightsReservedConsolidationTheories,Push-DownAccounting,andJointVentures:Objectives11.1Compareandcontrasttheelementsofconsolidationapproachesunderparent-companyand

contemporary/entitytheories.11.2Adjustsubsidiaryassetsandliabilitiestofairvalues

usingpush-downaccounting.11.3Accountforcorporateandunincorporatedjoint

ventures.11.4Identifyvariableinterestentities.11.5

Consolidateavariableinterestentity.ConsolidationTheoriesConsolidationTheories,Push-DownAccounting,andCorporateJointVenturesThreeTheoriesParent-companytheoryViewpointofparentcompanyshareholdersContemporary/entitytheoryTakestheviewpointofthetotalconsolidatedentityTraditionaltheoryViewpointoftheparent’sshareholdersandcreditorsStatementsarefromtheviewpointofthetotalconsolidatedentityIncomeReportingConsolidatednetincome:Parent-companytheoryandtraditionaltheoryIncometotheparentcompanyshareholdersContemporary/entitytheoryIncometobesharedbetweenthecontrollingandnoncontrollinginterestsAssetValuationParent-companytheoryandtraditionaltheorySubsidiaryassetsandliabilitiesareadjustedtofairvalueonlytotheextentoftheparent'sshare.Landwithabookvalueof$50andfairvalueof$80wouldbeconsolidatedat$80iftheparentowned100%,butat$71[$50+70%(80-50)]iftheparentowned70%.Contemporary/entitytheorySubsidiaryassetsandliabilitiesareconsolidatedatfairvalue.Landwouldbeconsolidatedat$80regardlessofownershippercentage.UnrealizedGainsandLossesParent-companytheoryEliminateunrealizedgainsandlossesattributabletothesubsidiarybasedonparent'sownership80%ofthe$10unrealizedgainsonupstreamsaleswouldbeeliminatediftheparentowned80%ofthesubsidiary.Contemporary/entitytheoryandtraditionaltheoryUnrealizedgainsandlossesareeliminated.Eliminate100%ofunrealizedgainsonupstreamsalesregardlessofparent’sshareAlltheorieseliminatedownstreamgainsandlosses.ConstructiveGainsandLossesParent-companytheoryRecognizeconstructivegainsandlossesattributabletothesubsidiarybasedonparent'sownershipContemporary/entitytheoryandtraditionaltheoryRecognizeconstructivegainsandlossesInclude100%ofconstructivegainsandlossesregardlessofparent’sshareAlltheoriesrecognize100%ofconstructivegainsandlossesattributabletotheparent.ConsolidatedStockholders'EquityContemporarytheoryNoncontrollinginterestisasingleamountandapartofstockholders'equity.EntitytheoryNoncontrollinginterestisalsopartofstockholders'equity.Itwouldbedecomposedintopaidincapital,retainedearnings,etc.OtherIdeasonConsolidationUsefootnotedisclosureforCIandNCIsharesofconsolidatedincomeConsolidatednetincomeisontheincomestatementwiththedistributionbetweenCIandNCIinthenotes.TotalconsolidatedequityisonthebalancesheetwithCIandNCIequitycomponentsinthenotes.Useproportionalconsolidation,excludingNCIfromthestatementsPush-DownAccountingConsolidationTheories,Push-DownAccounting,andCorporateJointVenturesSECRequiresPush-DownSECrequirespush-downaccountingforSECfilingswhenthesubsidiary:Issubstantiallywhollyowned(usually90%),andHassubstantiallynopublicly-helddebtorpreferredstockEstablishesanewbasisfortheassetsandliabilities:BasedonacquisitionpriceArgumentsagainst:SubsidiaryisnotpartytotheacquisitionSubsidiaryreceivesnonewfunds,sellsnoassetsPush-DownProcedureAssetsandliabilitiesarerevalued.Goodwill,ifany,isrecorded.Retainedearnings(priortoacquisition)areeliminated.Push-downcapitalIsanadditionalpaid-incapitalaccountIncludesoldretainedearningsAnyadjustmentstoassetsandliabilities,includinggoodwillAnewretainedearningsaccountisusedsubsequenttothebusinesscombinationPush-DownExamplePopbuys90%ofSon.Son'sbookandfairvaluesare:

BlankBVFVblank

blankBVFVCash$5$5blank

Liabilities$25$25Accountsrec.3035blank

blankblankblankInventory4050blank

Capitalstock100blankOthercurrent1010blank

Retainedearnings20blankPlantassets6080blank

Blank BlankblankGoodwill065blank

BlankBlankblankTotal$145$245blank

Total$145blankIfSonappliespush-downaccounting,itwouldrevalueitsaccountsreceivable,inventory,andplantassets,andrecordgoodwill.SonUsesParentCompanyTheorySonrevaluesassetsandliabilitiesonlytotheextentofPop'sownership.Only90%oftheincreases/decreasesarerecorded.Accountsreceivable(+A)4.5blankInventory(+A)9.0blankPlantassets(+A)18.0blankGoodwill(+A)58.5blankRetainedearnings(-SE)20.0blankPush-downcapital(+SE)blank110.0SonUsesContemporary/EntityTheorySonfullyrevaluesassetsandliabilities.100%oftheincreases/decreasesarerecorded.Accountsreceivable(+A)5blankInventory(+A)10blankPlantassets(+A)20blankGoodwill(+A)65blankRetainedearnings(-SE)20blankPush-downcapital(+SE)blank120Push-DownDifferencesTheexampleused90%ownershipbytheparent.SECrequirespush-downaccountingwhenthefirmissubstantiallyowned.MaybeappliedinotherinstancesLeveragedBuyoutswithachangeincontrollinginterestChangingaccountingbasismaybeappropriateJointVenturesConsolidationTheories,Push-DownAccounting,andCorporateJointVenturesJointVentures(definition)Ajointventureisabusinessentitythatisowned,operated,andjointlycontrolledbyasmallgroupofinvestorsforaspecificbusinessundertakingthatprovidesmutualbenefitforeachoftheventurers.Forms:IncorporatedGeneralorlimitedpartnershipsDomesticorforeignUndividedinterestCorporateJointVenturesInvestorswhoparticipateintheoverallmanagementofthejointventureUseequitymethod(one-lineconsolidation)forthejointventureIfsignificantinfluenceisnotpresent,usethecostmethod.Investorswithmorethan50%ofthevotingstockhaveasubsidiary,notajointventure.ConsolidatethesubsidiaryUnincorporatedJointVenturesApplicationoftheequitymethodtounincorporatedjointventuresisappropriate.Industry-specificpracticeProrata(proportionate)consolidationinoil&gasSECrecommendsagainstproportionateconsolidationforundividedinterestsinrealestateventuresunderjointcontrol.IdentifyVariableInterestEntitiesConsolidationTheories,Push-DownAccounting,andCorporateJointVenturesVariableInterestEntities(definition)"Variableinterestsarecontractual,ownership,orotherpecuniaryinterestsinalegalentitythatchangewithchangesinthefairvalueofthelegalentity'snetassetsexclusiveofvariableinterests.”[FASBASC810-10-15-14]Theprimarybeneficiaryofthevariableinterestentity(VIE)mustconsolidatetheVIE.PrimaryBeneficiaryTheprimarybeneficiaryHaspowertodirecttheVIEactivitiesthatmostdirectlyimpactitseconomicperformanceHasanobligationtoabsorblossesand/orarighttoreceivesignificantbenefitsfromtheVIETheprimarybeneficiarymaybeanequityholderand/orcreditoroftheVIE.VIEExampleGetRichQuickisaVIEwithequitycontributedequallyby10parties,includingCorinne.TheVIEwillborrowadditionalamountsequaltotwicetheequity.Thebankisthemajorcredi