高级财务会计（英文版第13版）课件 第5、6章 集团内部交易-存货、集团内部交易-固定资产

AdvancedAccountingThirteenth

EditionChapter5IntercompanyProfitTransactions–InventoriesCopyright©2018,2015,2012PearsonEducation,Inc.AllRightsReservedIntercompanyProfits–Inventories:Objectives5.1

Understandtheimpactofintercompanyinventoryprofiton

consolidationworkpapers.5.2

Applytheconceptsofupstreamversusdownstreaminventory

transfers.5.3Deferunrealizedinventoryprofitsremainingintheending

inventory.5.4Recognizerealized,previouslydeferredinventoryprofitsin

thebeginninginventory.5.5Adjustnoncontrollinginterestamountsinthepresenceof

intercompanyinventoryprofits.IntercompanyInventoryProfitsIntercompanyProfitTransactions–InventoriesIntercompanyTransactionsForconsolidatedfinancialstatements“intercompanybalancesandtransactionsshallbeeliminated.”[FASBASC810-10-45-1]Showincomeandfinancialpositionasiftheintercompanytransactionshadnevertakenplace.IntercompanySalesofInventoryProfitsonintercompanysalesofinventoryRecognizedifgoodshavebeenresoldtooutsidersDeferredifthegoodsarestillheldininventoryPreviouslydeferredprofitsinbeginninginventoryarerecognizedintheperiodthegoodsaresold.AssumingFIFO:BeginninginventoriesaresoldEndinginventoriesarefromcurrentpurchasesNoIntercompanyProfitsinInventories

(1of2)During2017,Raesoldgoodscosting$1,000toitssubsidiary,Sky,atagrossprofitof30%.Skyhadnoneofthisinventoryonhandattheendof2016.Theworksheetentryfor2016:Sales(-R,-SE) 1,429blankCostofsales(-E,+SE)blank1,429Eliminateintercompanysales=$1,000/(1-30%)=$1,429blankblankNoIntercompanyProfitsinInventories

(2of2)Allintercompanysalesofinventorieshavebeenresoldtooutsideparties,soremovethefullsalespricefrombothsalesandcostofsales.Rae'ssalesarereduced$1,429.Sky'scostofsalesarereduced$1,429.ThesameentryisusedifSkysellstoRae.IntercompanyProfitsOnlyinEndingInventories(1of2)Lastyear,2016,Kaisoldgoodscosting$500toitssubsidiary,Taj,atagrossprofitof25%.Tajhadnoneofthisinventoryonhandattheendof2016.During2017,Kaisoldadditionalgoodscosting$900toTajatagrossprofitof40%.Tajhas$200ofthesegoodsonhandat12/31/2017.IntercompanyProfitsOnlyinEndingInventories(2of2)Worksheetentriesfor2017:Sales(-R,-SE)1,500BlankCostofsales(-E,+SE)Blank1,500Eliminateintercompanysales=$900/(1-40%)=$1,500blankBlankCostofsales(E,-SE)80BlankInventory(-A)Blank80Deferprofitinendinginventory=$200x40%blankblankIntercompanyProfitsBeginningandEndingInventories(1of2)Lastyear,2016,Maxsoldgoodscosting$300toitssubsidiary,Leo,atmark-upof25%.Leohad$120ofthisinventoryonhandattheendof2016.During2017,Maxsoldadditionalgoodscosting$500toLeoata30%mark-up.Leohas$260ofthesegoodsonhandat12/31/2017.IntercompanyProfitsBeginningandEndingInventories(2of2)Worksheetentriesfor2017:Sales(-R,-SE)650blankCostofsales(-E,+SE)650Eliminateintercompanysales=$500+30%($500)=$650blankblankCostofsales(E,-SE)60Inventory(-A)60Deferunrealizedprofitinendinginventory=$260x30%/130%blankblankInvestmentinSubsidiary(+A)24blankCostofsales(-E,+SE)24Realizepreviouslydeferredprofitfrombeginninginventory=$120x25%/125%=$24blankblankUpstream&DownstreamInventorySalesIntercompanyProfitTransactions–InventoriesUpstreamandDownstreamSalesDownstreamSalesParentsellstosubsidiarySubsidiarysellstoparentUpstreamSalesParentSubsidiary1Subsidiary2Subsidiary3IntercompanyInventorySalesTheworksheetentriesforeliminatingintercompanyprofitsfordownstreamsalesSales(-R,-SE)XXXblankCostofsales(-E,+SE)blankXXXFortheintercompanysalespriceblankblankCostofsales(E,-SE)XXblankInventory(-A)blankXXFortheprofitsinendinginventoryblankblankInvestmentinSubsidiary(+A)XXblankCostofsales(-E,+SE)blankXXFortheprofitsinbeginninginventoryblankblankForupstreamsales,thelastentrywouldincludeadebittononcontrollinginterest,sharingtherealizedprofitbetweencontrollingandnoncontrollinginterests.DataforExampleFortheyearended12/31/2016:Subsidiaryincomeis$5,200Subsidiarydividendsare$3,000Currentamortizationofacquisitionpriceis$450Intercompany(IC)salesinformation:ICsalesduring2016were$650ICprofitinendinginventory$60ICprofitinbeginninginventory$24IncomeSharingwithDownstreamSales–PARENTMakesSaleSubsidiarynetincome$5,200Currentamortizations(450)Adjustedincome$4,750blankblankDeferprofitsinEI(60)RecognizeprofitsinBI24

Incomerecognized$4,714BlankblankSubsidiarydividends$3,000WhenparentmakestheICsale,theimpactofdeferringandrecognizingprofitsfallsalltotheparent.IncomefromsubsidiaryNCI20%share$950Blank

Blank

Blank$600

CI80%share$3,800(60)24$3,764

Blank$2,400IncomeSharingwithUpstreamSales–SUBSIDIARYMakesSaleWhensubsidiarymakestheICsale,theimpactofdeferringandrecognizingprofitsissplitamongcontrollingandnoncontrollinginterests.IncomefromsubsidiarySubsidiarynetincome$5,200Currentamortizations(450)Adjustedincome$4,750

blank

blankDeferprofitsinEI(60)RecognizeprofitsinBI24

Incomerecognized$4,714

blank

blankSubsidiarydividends$3,000CI80%share$3,800(48)19.2$3,771.2

blank$2,400NCI20%share$950.0(12.0)4.8

$942.8$600UnrealizedProfitsinEndingInventoriesIntercompanyProfitTransactions–InventoriesEndingInventoryonHandIntercompanyprofitsinendinginventoryEliminateatyearendWorkingpaperentryCostofsales(E,-SE)XXXblankInventories(-A)blankXXXFortheunrealizedprofitblankblankParentAccountingPamowns90%ofSunacquiredatbookvalue(noamortizations).Duringthecurrentyear,Sunreported$10,000income.PamsoldgoodstoSunduringtheyearfor$15,000includingaprofitof$6,250.Sunstillholds40%ofthesegoodsattheendoftheyear.Unrealizedprofitinendinginventory40%(6,250)=$2,500Pam'sIncomefromSun90%(10,000)–2,500unrealizedprofits=$6,500Noncontrollinginterestshare10%(10,000)=$1,000EntriesPam'sjournalentrytorecordincome(netofunrealizedprofit):InvestmentinSun(+A)6,500blankIncomefromSun(R,+SE)blank6,500Worksheetentriestoeliminateintercompanysaleandunrealizedprofits:Sales(-R,-SE)15,000blankCostofgoodssold(-E,+SE)blank15,000Costofgoodssold(E,-SE)2,500blankInventory(-A)blank2,500Worksheet–IncomeStatementBlankPamSunDRCRConsolSales$100.0$50.015.0blank$135.0IncomefromSun6.5blank6.5blank0.0Costofsales(60.0)(35.0)2.515.0(82.5)Expenses(15.0)(5.0)blankblank(20.0)Noncontrollinginterestshareblankblank1.0blank(1.0)Controllinginterestshare$31.5$10.0blankblank$31.5TherewouldbeacreditadjustmenttoInventoryfor$2.5onthebalancesheetportionoftheworksheet.Whatif?Ifthesaleshadbeenupstream,bySuntoPam:Unrealizedprofitsinendinginventory40%(6,250)=$2,500Pam'sIncomefromSun90%(10,000–2,500)=$6,750Noncontrollinginterestshare10%(10,000–2,500)=$750Upstreamprofitsimpactboth:ControllinginterestshareNoncontrollinginterestshareRecognizingProfitsfromBeginningInventoriesIntercompanyProfitTransactions–InventoriesIntercompanyProfitsinBeginningInventoryUnrealizedprofitsinendinginventoryoneyearBecomeProfitstoberecognizedinthebeginninginventoryofthenextyear!ImpactonNoncontrollingInterestIntercompanyProfitTransactions–InventoriesDirectionofSaleandNCITheimpactofunrealizedprofitsinendinginventoryandrealizingprofitsinbeginninginventorydependsonthedirectionoftheintercompanysales.DownstreamsalesFullimpactonparentUpstreamsalesShareimpactbetweenparentandnoncontrollinginterestCalculatingIncomeandNCIDownstreamsales: Incomefromsub =CI%(Sub'sNI)–ProfitsinEI+ProfitsinBI Noncontrollinginterestshare =NCI%(Sub'sNI)Upstreamsales: Incomefromsub =CI%(Sub'sNI–ProfitsinEI+ProfitsinBI) Noncontrollinginterestshare =NCI%(Sub'sNI–ProfitsinEI+ProfitsinBI)UpstreamExamplewithAmortization

(1of2)Phebeacquired70%ofShayon1/1/2016for$420whenShay'sequityconsistedof$200capitalstockand$200retainedearnings.Shay'sinventorywasunderstatedby$50,andthebuilding,witha20-yearlife,wasunderstatedby$100.Anyexcessisgoodwill.Blank2016blank2017blankblankPhebeShayPhebeShaySeparateincome$1,250$705$1,500$745Dividends$600$280$600$300UpstreamExamplewithAmortization

(2of2)In2016,Shaysoldgoodsfor$700toPhebeata20%markup,and$240ofthesegoodswereinPhebe'sendinginventory.In2017,Shaysoldgoodsfor$900toPhebeata25%markup,andPhebestillhad$100onhandattheendoftheyear.AnalysisandAmortizationCostof70%ofShay$420ImpliedvalueofShay420/.70$600Bookvalue200+200400Excess$200blankUnamortAmortUnamortAmortUnamortAllocatedto1/1/1620161/1/17201712/31/12Inventory50(50)000Building100(5)95(5)90Goodwill50050050blank200(55)145(5)1402016IncomeSharing(Upstream)IncomefromShayShay'snetincome$705Currentamortizations(55)Adjustedincome$650blankblankDeferprofitsinEI(40)Incomerecognized$610

blankSubsidiarydividends$280CI70%share$455($28)$427

blank$196NCI30%share$195($12)$183

blank$84Phebe's2016EquityEntriesInvestmentinShay(+A)420blankCash(-A)blank420Foracquisitionof70%ofShayblankblankCash(+A)196blankInvestmentinShay(-A)blank196FordividendsreceivedblankblankInvestmentinShay(+A)427blankIncomefromShay(R,+SE)blank427Forshareofincomeblankblank2016WorksheetEntries(1of3)Adjustforerrors&omissions-noneEliminateintercompanyprofitsandlossesEliminateincome÷ndsfromsub.andbringInvestmentaccounttoitsbeginningbalanceSales(-R,-SE)700blankCostofsales(-E,+SE)blank700CostofSales(E,-SE)40blankInventory(-A)blank40IncomefromShay(-R,-SE)427blankDividends(+SE)blank196InvestmentinShay(-A)blank2312016WorksheetEntries(2of3)Recordnoncontrollinginterestinsub'searnings÷ndsEliminatereciprocalInvestment&sub'sequitybalancesNoncontrollinginterestshare(-SE)183blankDividends(+SE)blank84Noncontrollinginterest(+SE)blank99Capitalstock(-SE)200blankRetainedearnings(-SE)200blankInventory(+A)50blankBuilding(+A)100blankGoodwill(+A)50blankInvestmentinShay(-A)blank420Noncontrollinginterest(+SE)blank1802016WorksheetEntries(3of3)Amortizefairvalue/bookvaluedifferentialsEliminateotherreciprocalbalances–noneCostofsales(E,-SE)50blankInventory(-A)blank50Depreciationexpense(E,-SE)5blankBuilding(-A)blank52017IncomeSharing(Upstream)IncomefromShayShay'snetincome$745Currentamortizations(5)Adjustedincome$740

blankblankDeferprofitsinEI(20)RealizeprofitsfromBI40Incomerecognized$760

blankblankSubsidiarydividends$300CI70%share$518($14)$28$532

blank$210NCI30%share$222($6)$12$228

blank$90Phebe's2017EquityEntriesCash(+A)210blankInvestmentinShay(-A)blank210FordividendsreceivedblankblankInvestmentinShay(+A)532blankIncomefromShay(R,+SE)blank532Forshareofincomeblankblank2017WorksheetEntries(1of3)Adjustforerrors&omissions-noneEliminateintercompanyprofitsandlossesEliminateincome÷ndsfromsub.andbringInvestmentaccounttoitsbeginningbalanceSales(-R,-SE)900blankCostofsales(-E,+SE)blank900CostofSales(E,-SE)20blankInventory(-A)blank20InvestmentinShay(+A)28blankNoncontrollinginterest(-SE)12blankCostofsales(-E,+SE)blank40IncomefromShay(-R,-SE)532blankDividends(+SE)blank210InvestmentinShay(-A)blank3222017WorksheetEntries(2of3)Recordnoncontrollinginterestinsub'searnings÷ndsEliminatereciprocalInvestment&sub'sequitybalancesNoncontrollinginterestshare(-SE)228blankDividends(+SE)blank90Noncontrollinginterest(+SE)blank138Capitalstock(-SE)200blankRetainedearnings(-SE)625blankInventory(+A)0blankBuilding(+A)95blankGoodwill(+A)50blankInvestmentinShay(-A)blank679Noncontrollinginterest(+SE)blank2912017WorksheetEntries(3of3)Amortizefairvalue/bookvaluedifferentialsEliminateotherreciprocalbalances–noneDepreciationexpense(E,-SE)5blankBuilding(-A)blank5AdvancedAccountingThirteenthEditionChapter6IntercompanyProfitTransactions–PlantAssetsCopyright©2018,2015,2012PearsonEducation,Inc.AllRightsReservedIntercompanyProfitTransactions–PlantAssets:Objectives6.1Assesstheimpactofintercompanyprofitontransfersofplant

assetsonconsolidatedfinancialstatements.6.2

Deferunrealizedprofitsonplantassettransfersbyeitherthe

parentorsubsidiary.6.3Recognizerealized,previouslydeferredprofitsonplantasset

transfers.6.4

Adjustthecalculationsofnoncontrollinginterestshareinthe

presenceofintercompanyprofitsonplantassettransfers.TransfersofPlantAssetsIntercompanyProfitTransactions–PlantAssetsIntercompanyFixedAssetSales(1of2)Intercompanysalesofnondepreciablefixedassets:InyearofintercompanysaleDeferanygainorlossRestatefixedassettocostInyearsofcontinuedownershipAdjustinvestmentaccounttodefergainorloss(adjustnoncontrollinginteresttoo,ifupstreamsale)RestatefixedassettocostIntercompanyFixedAssetSales(2of2)InyearofsaletooutsideentityAdjustinvestmentaccount(andnoncontrollinginterestifupstreamsale)RecognizethepreviouslydeferredgainorlossIntercompanySaleofLand(1of2)Popowns90%ofSon,acquiredatcostequaltofairvalue.In2016,Popsells(downstream)landtoSonandrecordsa$20gain.In2020,Sonsellsthelandtoanoutsideentityata$30gain.Son'sseparateincomewas$140in2016.IntercompanySaleofLand(2of2)Poprecords90%ofownershipinSon‘s2016reportedincomeof$140,000or $140*90%=$126Popeliminates$20inunrealizedprofitonlandsoldtoSonInvestmentinSon(+A)$126,000BlankIncomefromSon(R,+SE)Blank$126,000IncomefromSon(-R,-SE)$20,000BlankInvestmentinSon(-A)Blank$20,000FirstYear–EliminationEntryPopsoldlandthatcost$80toSonfor$100$100salesprice-$80cost=$20gainonsaleThegainonintercompanysaleoflandmustbeeliminated,reducingthelandtoit’scostbasis.Gainonsaleofland(-Ga,-SE)20blankLand(-A)blank20YearsSubsequenttoIntercompanySaleThecostbasisinlandisreducedtoadjusttheinvestmentaccounttoestablishreciprocitywithSon’sequityaccountsatthebeginningoftheperiod.Thisentryismadeatthebeginningofeachsubsequentperiod.InvestmentinSon(+A)20blankLand(-A)blank20SaleinSubsequentYeartoOutsideEntitySonsellsthelandfouryearslaterfor$130The$20gainthatwaspreviouslydeferredisrealizedwhenthesaleismadetoanoutsideentity.PopmakesthefollowingentitytorecognizethepreviouslydeferredprofitonsaleoflandtoSon.InvestmentinSon(+A)20blankGainonsaleofland(Ga,+SE)blank20DeferringUnrealizedProfitsIntercompanyProfitTransactions–PlantAssetsUnrealizedProfitsonFixedAssetsUnrealizedprofitorlossonnondepreciablefixedassetsDeferinyearofintercompanysaleContinuedeferringbyadjustingtheinvestmentinsubsidiary(andnoncontrollinginterestifupstream)RecognizefullprofitorlossuponresaletooutsideentityDepreciableFixedAssetsGainsandlossesonintercompanysalesofdepreciablefixedassetsDeferinperiodofintercompanysaleRecognizegainorlossoverremaininglifeofassetAdjustassetanddepreciationdownforgainsAdjustassetanddepreciationupforlossesRecognizeanyunamortizedgainorlossuponsaletooutsideentityDownstreamExamplePamowns80%ofSun,acquiredatcostequaltofairvalue.On12/31/2016,PamsellsmachinerytoSunata$30profit.Themachineryhasaremaininglifeof5yearsfrom12/31/2016.Sundisposesofthemachineryatbookvalueattheendof5years.DownstreamExample–EndofYear(1of3)TorecordthesaleandpurchaseofmachineryBlankBlankPAM’SBOOKSBlankBlankCash(+A)$80,000BlankAccumulatedDepreciation(+A)$40,000BlankMachinery(-A)Blank$90,000Gainonsaleofmachinery(Ga,+SE)Blank$30,000BlankBlankBlankSUN‘SBOOKSBlankBlankMachinery(+A)$80,000BlankCash(-A)Blank$80,000DownstreamExample–EndofYear(2of3)Undertheequitymethod,Pam’sbooksareadjustedfortheunrealizedgainonthemachinery.TorecordunrealizedgainonsaleofmachineryBlankBlankIncomefromSun(-R,-SE)30,000Blank(InvestmentinSun(-A)Blank30,000DownstreamExample–EndofYear(3of3)Thegainonsaleofmachineryshouldnotappearintheconsolidatedincomestatementbutitshouldbeincludedintheconsolidatedbalancesheet.Thisconsolidationadjustmentaccomplishesthiseffect:Gainonsaleofmachinery(-Ga,-SE)30,000BlankMachinery(-A)Blank30,000RecognizingRealized,PreviouslyDeferredProfitsIntercompanyProfitTransactions–PlantAssetsPreviouslyDeferredGains/LossesRecognizeoverthelifeofthedepreciableassetDownstreamsalesAdjustinvestmentinsubsidiaryaccountUpstreamsalesAdjustinvestmentinsubsidiaryaccountand

noncontrollinginterest,proportionatelyIntercompanysalesatagainAdjustassetanddepreciationdownIntercompanysalesatalossAdjustassetanddepreciationup2014to2016Calculations(1of2)Continuetorecognizepartofthegain,withfulleffecttoPetPet'sIncomefromSam80%(80)+6=$70Noncontrollinginterestshare20%(80)=$16EliminationentryforWorksheetsin2014InvestmentinSam(+A)24BlankAccumulateddepreciation(+A)6BlankMachinery(-A)Blank30Accumulateddepreciation(+A)6BlankDepreciationexpense(-E,+SE)Blank6EntriesWorksheetentriesfor2015Worksheetentriesfor2016InvestmentinSam(+A)18Blank

Accumulateddepreciation(+A)12BlankMachinery(-A)Blank30Accumulateddepreciation(+A)6BlankDepreciationexpense(-E,+SE)Blank6InvestmentinSam(+A)12Blank

Accumulateddepreciation(+A)18BlankMachinery(-A)Blank30Accumulateddepreciation(+A)6BlankDepreciationexpense(-E,+SE)Blank62017Calculations(1of3)Recognizetheremainingdeferredgain,withfulleffecttoPet:Pet'sIncomefromSam80%(90)+6=$78Noncontrollinginterestshare20%(90)=$18Eliminationentriesfor2017WorksheetInvestmentinSam(+A)6BlankAccumulateddepreciation(+A)24BlankMachinery(-A)Blank30Accumulateddepreciation(+A)6BlankDepreciationexpense(-E,+SE)Blank6ImpactonNoncontrollingInterestIntercompanyProfitTransactions–PlantAssetsSharingUnrealizedGainorLossUpstreamsalesoffixedassetsrequire:DeferringthegainorlossonthesaleRecognizingaportionofthegainorlossastheassetdepreciatesWritingoffanyunrecognizedgainorlossuponthesaleoftheassetSharingthegainsandlossesbetweenthecontrollingandnoncontrollinginterestsUpstreamsalesimpactnoncontrollinginterests!UpstreamExampleLeafowns70%ofWillow,acquiredatcostequaltofairvalue.On1/1/2013,WillowsellsmachinerytoLeafata$40profit.Themachineryhasaremaininglifeof5yearsfrom1/1/2013.Leafusesthemachineryforfouryears,thensellsitataprofitatthestartof2017.Willow'sincomeis$70in2013,$80peryearfor2014to2016,and$90in2017.2013CalculationsDefertheunrealizedgainandamortizeitover5yearssharingthegain:40gain/5years=$8Leaf'sIncomefromWillow70%(70–40+8)=$26.6Noncontrollinginterestshare30%(70–40+8)=$11.4Eliminationentryfor2013Worksheet:Gainonsaleofmachinery(-Ga,-SE)40BlankMachinery(-A)Blank40Accumulateddepreciation(+A)8BlankDepreciationexpense(-E,+SE)Blank82014to2016Calculations(2of2)Continuetorecognizepartofthe