中级会计辅导课1.ppt

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1、,Intermediate Accounting,高远 公共邮箱：密码：accounting,Course Outline,1.Accounting for Long term Assets-Tangible assets:PPE(property,plant and equipment)-Intangible assets:Goodwill 2.Consolidated accounts合并报表-Consolidated balance sheet;consolidated income statements-treatment of goodwill 3.Ratio Analysis-Li

2、quidity,Profitability,and solvency ratios-including calculation of Earnings per share(EPS),Depreciation,Three factors of depreciation1.cost(including invoice price,delivery,import duty,installation,renewals)or revalued amount2.useful life:3.residual valueDepreciation methods:1.straight line2.reducin

3、g balance3.sum of digits 年数总和法,example 1,Simple plc has purchased a machine.The details are as follows:Cost of machine$800,000Residual value$104,000Estimated life 4 yearsCalculate:the annual depreciation charge using the a)straight-line method,and b)sum of digits method,example 1 straight line,$,000

4、 Cost 800Depreciation for year 1 174 Net book value 626Depreciation for year 2 174 Net book value 452Depreciation for year 3 174 Net book value 278Depreciation for year 4 174Residual value 104,Cost-estimated residual value=depn.charge per year Estimated economic life(800-104)/4=174,example 1 sum of

5、digits,Cost 800Depreciation for year 1 278 696*4/10 Net book value 522Depreciation for year 2 209 696*3/10 Net book value 313Depreciation for year 3 139 696*2/10 Net book value 174Depreciation for year 4 70 696*1/10Residual value 104,Step1:Total depreciable cost=Cost-estimated residual value=800-104

6、=696 Step2:Total digits:1+2+3+4=10 Step3:Calculate the depn Rate(4/10,3/10,2/10,1/10)Step 4:total depreciable cost*depn rate for each year,Example 2,Arthur purchased a plant costing$1,000.Required:using reducing balance method with an estimated useful life of 5 years and a residual value of$238,Dimi

7、nishing depn.rate=1-n(residual value)/cost=1-5(238)/1000=25%Cost 1000Depreciation for year 1 250(beginning NBVdepn.Rate)Net book value 750Depreciation for year 2 188 Net book value 562Depreciation for year 3 140 Net book value 422Depreciation for year 4 105 Net book value 317Depreciation for year 5

8、79 Net book value 238,Solution,Revaluation,Revalue the price of fixed assets,not the useful life.Company would like to do revaluation when the market price goes up.(NOT compulsary)Any increase in value leads to the increase of unrealised profit(also called revaluation surplus重估盈余),this unrealised pr

9、ofit should be added into Revaluation Reserve account.Dr asset Cr revaluation reserve,Practical example 3,Qiguan Ltd.PLC owns a machine which was purchased at 200,000 8 years ago.Currently this building has been revalued at 250,000.No salvage value.The estimated useful life of this machine was 25 ye

10、ars at purchase,which still holds true.Required:Calculate the amount the revaluation surplus 重估盈余,new annual depreciation charge and additional depreciation.,Practical example 3,Solution:NBV at date of revaluation=200,000(200000/25 x 8)=136000Revaluation surplus=250000 136000=114000“Old”depreciation

11、=200000/25=8000“New”depreciation=250000/(25-8)the remaining life=14705Additional depreciation=14705-8000=6705,Practical example 4,A fixed asset cost 15,000 six year ago.It was depreciated using straight line method with no residual value.The company has now adopted the current value approach for its

12、 building and this building has been revalued to 16,000.The fixed asset has an estimated useful life of 30 years when it was purchased but it has now been decided that the asset has a total useful life of 35 years.Calculate:The NBVRevaluation surplusThe old annual depreciation chargeThe new annual d

13、epreciation charge,Practical example 4,SOLUTIONNBV at the date of revaluation:15,000(15,000/30 x 6)=12000Revaluation surplus:=16,000-12,000=4000Old dep.15,000/30=500New dep.16,000/(35-6)=552Additional depn 52,Diminution 跌价,Revaluation is not compulsary for companies,however,where companies revalue t

14、heir fixed assets these revaluations must be kept up to date.And that could be one reason diminution happens.Once diminution of a fixed asset happens,there is a reduction in the revaluation reserve.Then there may be a reduction against profits,where profit and loss account(expense)increase.(Eg.p5 of

15、 your notes)Dr revaluation reserve profit and loss Cr asset,Impairment of fixed assets 资产减值,Carrying value=Book value(账面价值)Recoverable amount(可收回价值)is higher of realisable value 可变现价值 value in use 使用价值(selling value)(present value)Carrying value recoverable amount no impairmentCarrying value recover

16、able amount impairment loss(expense),or,Practical example 5,Information:Carrying amount as at 2002 balance sheet 96500Net realizable value 70000Value in use 86245Question:What is the revised carrying amount of the asset?Journalize the impairment loss.Solution:Recoverable amount=86245(carrying amount

17、)Therefore:revised carrying amount=86245impairment loss=96500-86245=10255Dr impairment loss 10255 Cr Asset 10255,Allocating impairment losses,Allocating losses in the following sequence：1.specific fixed assets 明确告诉减值金额的资产2.goodwill3.other capitalised intangibles4.other tangible fixed assets on a pro

18、 rata basis 按比例分配(or other more appropriate basis)Example 6,Overview of the course-Consolidated accounts,合并报表-重点内容Consolidated balance sheet;consolidated profit and income statementsKey terms“Parent company母公司”-holding company which has one or more subsidiaries and controls the subsidiary companiesS

19、ubsidiary子公司-controlled by the parent company(50%)Minority Interest 少数股东权益-Share of subsidiary not held by parent but by outside partyAssociate关联公司-significantly influenced by the parent company(20-50%),Consolidated accounts,Parent Company,Minority Interest20%,Subsidiary Company1,Subsidiary Company2

20、,Subsidiary Company3,Subsidiary Company80%,AssociateCompany 30%,Consolidated accounts,Treatment:All of a subsidiarys accounts are included(consolidated)+recognize minority interest Only proportion share of associates net assets and profit,1.Consolidated accounts,Example:达能1996年，收购武汉东西湖啤酒54.2%的股权；收购深

21、圳益力食品公司54.2%股权。2000年3月，达能收购乐百氏92%的股权。2004年，收购梅林正广和饮用水有限公司50%股份。2006年7月，法国达能以持股22.18%的比例成为中国汇源集团的第二大股东。Source:http:/,1.Consolidated accounts,Issues:When must consolidated accounts be prepared?by which company?Which companies included?How to deal with goodwill?(when value of investment by holding company does not equal share capital of subsidiary)And minority interest?,