双语版财务会计 第二章

1、Cash and ReceivablesChapter 2Learning Objects Understand and grasp the internal controls of Cash and Bank Grasp how to make Bank Reconciliations（银行调节表） Master the methods of dealing with the Doubtful Accounts （呆账，可疑账款） Master how to record assignment of Receivables（应收账款转让）Cash and ReceivablesWhat is

2、 cash?Management and control of cashAccounting for cashReporting cashSummary of cash-related itemsCashReceivablesRecognition of accounts receivableValuation of accounts receivableRecognition of notes receivable（应收票据） Valuation of notes receivableDisposition of accounts and notes receivable（处置处置） Cas

3、h 现金 概念、特征、类型、使用范围 现金的管理与内部控制 现金及银行存款的核算 现金的报告（报表） 现金盘点与银行存款余额调节表 Receivables 应收款项 应收款项概念、分类 应收款项的确认与计量 应收款项的核算 应收账款计提坏账准备 应收款项的报告Cash and Receivables Cash is the most liquid asset owned by a firm. As a result it is most susceptible to theft, and thus internal control over cash is important.它是企业流动性最

4、强的一项资产。 Characteristics The standard medium of exchange （支付中介） Basis for measuring and accounting for all items（计量基础） Current asset（流动资产）CashCash contents Cash in hand, cash in bank, other monetary funds Coin 硬币, currency Available funds on deposit at the bank(可动用的银行存款) Negotiable instruments（可流通的票据

5、） Money orders (汇票，邮政汇票)、 certified checks (承兑支票，保付支票)、 cashiers checks (银行本票)、 personal checks (个人支票）、 bank drafts (银行汇票) 、Saving accounts（定期存款）Cash contents other monetary assets（我国的其他货币资金我国的其他货币资金） 外埠存款cash in other cities 银行本票 cashiers check 银行汇票 bank draft 信用卡 credit cards 信用证保证金 L/C deposit 存出

6、投资款 cash for investment How to manage and control cash? Internal control. as defined in accounting and auditing(审计), is a process for assuring achievement of an organizations objectives in operational effectiveness and efficiency（经营效率和效果）, reliable financial reporting, and compliance with laws, regu

7、lations and policies. A broad concept, internal control involves everything that controls risks to an organization.How to manage and control cash? It is a means by which an organizations resources are directed, monitored, and measured. It plays an important role in detecting and preventing fraud（查错防

8、弊）（查错防弊） and protecting the organizations resources, both physical（实物） (e.g., machinery and property) and intangible（无形） (e.g., reputation声誉 or intellectual property智力财产 such as trademarks商标权).Internal controls 内部控制制度是企业重要的内部管理制度，是一个单位为了保护其资产的安全完整，保证其经营活动符合国家法律、法规和内部规章要求，提高经营管理效率，防止舞弊，控制风险等目的，而在单位内部

9、采取的一系列相互联系、相互制约的制度和方法。 COSO委员会【1992年美国国会的“反对虚假财务报告委员会”（NCFR）下属的由AAA、AICPA、IIA、FEI和IMA等专业团体组织参与的“发起组织委员会（COSO）”】，1992年发布内部控制基本框架（简称COSO报告）。 财政部 证监会 审计署 银监会 保监会2008年印发企业内部控制基本规范，2010年发布企业内部控制配套指引，包括18项应用指引、1项评价指引和1项审计指引。Internal controls COSO defines internal control as having five components: Control

10、 Environment 控制环境 Risk Assessment 风险评估 Information and Communication 信息与沟通 Control Activities 控制活动 Monitoring 监控，监督Internal controls for cash 货币资金的内部控制制度是企业最重要的内部控制制度。货币资金的内部控制制度是企业最重要的内部控制制度。 1.钱账分管制度。 企业应配备专职的出纳员，办理库存现金收付和结算业务、登记库存现金和银行存款日记账、保管库存现金和各种有价证券、保管好有关印章、空白收据和空白支票; 出纳员不得兼管稽核、会计档案保管和收入、费用、

11、债权债务账目的登记工作。 2.现金开支审批制度。 (1)明确企业库存现金开支范围; (2)明确各种报销凭证，规定各种库存现金支付业务的报销手续和办法; (3)确定各种现金支出的审批权限Internal controls for cash 3.库存现金日清月结制度。 日清是指出纳员应对当日的库存现金收付业务全部登记库存现金日记账，结出账面余额，并与库存现金核对相符; 月结是指出纳员必须对库存现金日记账按月结账;并定期进行库存现金清查。 4.库存现金保管制度。 (1)超过库存限额以外的库存现金应在下班前送存银行; (2)除工作时间需要的小量备用金可存在出纳员的抽屉内，其余应放入保险柜内，不得随意存

12、放; (3)限额内的库存现金当日核对清楚后，一律放入保险柜内，不得放在办公桌内过夜; (4)单位的库存现金不准以个人名义存入银行; (5)库存的纸币和铸币，应实行分类保管。Accounting for cash Cash in hand 现金的核算 现金增加：产品零售，取得现金收入200元借：现金 234 （debt) 贷：主营业务收入 200 (credit) 应缴税费增值税（销项税额） 34 从银行取现从银行取现20002000元。元。 借：现金借：现金 20002000 贷：银行存款贷：银行存款 20002000 Accounting for cash 现金减少 购买办公用品 230元。

13、 借：管理费用 230 贷：现金 230 出差借款 900元 借：其他应收款 900 贷：现金 900Accounting for cash 银行存款增加银行存款增加 投资者投入投资者投入2020万元，存入银行。万元，存入银行。 借：银行存款借：银行存款 200,000200,000 贷：实收资本贷：实收资本 200,000200,000 银行存款减少银行存款减少 缴纳税金缴纳税金50005000元元 借：应缴税费借：应缴税费 50005000 贷：银行存款贷：银行存款 50005000 购入材料购入材料 1000010000元，税金元，税金17001700元，存款支付。元，存款支付。 借：原

14、材料借：原材料 1000010000 应缴税费应缴税费增值税（进项税额）增值税（进项税额）17001700 贷：银行存款贷：银行存款 1170011700Accounting for cash 其他货币资金增加：其他货币资金增加： 借：其他货币资金借：其他货币资金 贷：银行存款等贷：银行存款等 其他货币资金减少：其他货币资金减少： 借：原材料、应付账款等借：原材料、应付账款等 贷：其他货币资金贷：其他货币资金Reporting Cash 资产负债表：货币资金（现金、银行存款、其他资产负债表：货币资金（现金、银行存款、其他货币资金）货币资金） 现金流量表：经营活动现金流量、投资活动现金现金流量表

15、：经营活动现金流量、投资活动现金流量、筹资活动现金流量（流入流量、筹资活动现金流量（流入- -流出）流出）Reporting Cash Reporting Reporting as“ cash and cash equivalents （现金和现金等价物）”separately if it will be disbursed（支付） within one year or the operating cycle, whichever is longer. Reporting Cash Cash equivalents Short-term, highly liquid investments t

16、hat are both readily convertible to cash（易于转换为现金）, and so near their maturity that they present insignificant risk （风险较小）of changes in value. Example: Treasury bills (国库券), Commercial paper（商业票据）, and Money market funds（货币基金）.Cash counting 现金的清查：通过“待处理财产损溢”账户核算。 1.审批前调账 盘盈：增加待处理溢余，调增账面记录 盘亏：增加待处理亏损，

17、调减账面记录 2.审批后减少待处理 盘盈： 属于应付的，应增加一项负债(其他应付款); 属于无法查明原因的，应作为营业外收入。 盘亏： 属于应收，应增加一项债权(其他应收款); 属于定额内损耗和管理原因，应作为管理费用; 属于无法查明原因的，应作为管理费用。Cash counting 库存现金清查中，发现实存数大于账面余额l00元。 借：库存现金 100 贷：待处理财产损溢 100属于应支付给其他单位 借：待处理财产损溢 100 贷：其他应付款单位100如果核查后原因不明，经批准作为营业外收入： 借：待处理财产损溢 100 贷：营业外收入 100Cash counting 库存现金清查中，发现

18、现金短缺80元，借：待处理财产损溢80 贷：库存现金80 如果属于出纳人员的责任，应由出纳人员赔偿：借：其他应收款出纳员80 贷：待处理财产损溢80 当出纳人员交回赔款时：借：库存现金80 贷：其他应收款出纳员80 如果属于无法查明原因的，应作为管理费用处理：借：管理费用80 贷：待处理财产损溢80Cash balance from bank statement $7,218Cash balance from company records $6,925Bank ReconciliationBank Reconciliations Bank reconciliations（银行存款余额调节表）

19、 are prepared and reviewed on a regular basis to ensure that: Errors in the cash account are detected All cash transactions are recorded (e.g. adjustments such as bank service charges) Bank and book balances agree（银行账户余额与实际保持一致）Bank Reconciliations The reconciliation of bank and book balances is to

20、corrected cash balance. The corrected cash balance is the amount that should be shown on the balance sheet at the reconciliation date. Bank Reconciliations Two accounts balance rarely agree at any one point in time due to Deposits in transit（在途资金） Outstanding cheque (未付支票，转账支票) Bank charges （银行手续费）

21、Bank Credits (往来账户) Collections or deposits in the companys account that the company is not aware of until receipt of the bank statement. Bank or depositor errors The items in red will require adjustment (for errors only if the error is the depositors error)Bank ReconciliationsBank reconciliation 银行

22、对账单余额 $ 加: 企业已收银行未收 减: 企业已付银行未付 调节后的余额 $ 银行存款余额 $ 加: 银行已收企业未收 减: 银行已付企业未付 调节后余额 $Bank Reconciliation - ExampleBank Reconciliation - SolutionBank Reconciliation - SolutionBank Reconciliation - SolutionSlide 6-32 Monthly adjusting journal entries required:ReceivablesWritten promises to pay a sum of mo

23、ney on a specified future date.Claims held against customers and others for money, goods, or services.Oral promises of the purchaser to pay for goods and services sold.Trade receivableReceivables Classification Trade Receivables 在商品销售环节发生的赊销款项在商品销售环节发生的赊销款项。 Accounts receivable应收账款, Notes receivable

24、应收票据、 Prepayments预付账款 Nontrade Receivables：Other receivables 其他应收款 应收长期资产（投资）销售款应收长期资产（投资）销售款 预付给内部员工或分支公司的款项预付给内部员工或分支公司的款项 其他单位存入公司的保证金或押金其他单位存入公司的保证金或押金 应收的股利或利息应收的股利或利息 索取权索取权Recognition of receivables 应收款项的确认：应收款项泛指企业拥有的将来获取现款、商品或劳动的权利。它是企业在日常生产经营过程中发生的各种债权，是企业重要的流动资产。 应收账款的确认重要是解决何时确认应收账款。 应收账

25、款是与商品的销售或劳务的提供直接相关的，因此确认应收账款的时间通常应与确认收入的时间相一致。 也就是说，在商品的所有权已经转给购货方，或劳务已经提供、收入已经实现时，对未取的款项确认为应收账款。Measuring Receivables In most receivable transactions, the amount to be recognized is the exchange price between two parties to a sales transaction. Exchange price ：the amount due from the debtor It is g

26、enerally indicted on a business document (invoice) Considering two factors while measuring The available discounts Trade discounts（商业折扣） Cash or sale discounts（现金折扣） The length of time between the sale and the payment due date (time value)Measuring Receivables Trade discounts（商业折扣） To quote differen

27、t prices for different quantities purchased. For Increase sales（增加销售） Treatment Reductions from the list price（在会计处理中直接从总价中扣减） Customers are billed net of discounts10 % Discount for new Retail Store Customers Cash (sales) discounts （现金折扣） Inducements for prompt payment (敦促购货方早付款而给予的折扣) Increase like

28、lihood of collection （增加账款回收的可能性）Method of recording Gross Method（总价法） Net Method （净价法） Payment terms are 2/10, n/30Measuring ReceivablesCash Discounts Gross method Records sale at the full amount; assumes no discount will be taken until it actually is. Accounts Receivable 1,000 Sales1,000 Assume pa

29、id within 10 days: Cash (98%$1,000) 980 Sales discounts 20 Accounts Receivable 1,000Sales 5,000Accounts receivable 5,000June 3Cash ($5,000 x 98%)4,900Sales discounts 100 Accounts receivable 5,000June 12Gross MethodCash Discounts Gross method Sales discount net method Record net of the possible disco

30、unt; assumes customer will take advantage of the discount Accounts Receivable980 Sales 980 Assume not paid within 10 days:Cash 1,000 Sales discounts forfeited 20 Accounts Receivable980Sales 4,900Accounts receivable 4,900June 3Accounts receivable 4,900Cash 5,000June 29Sales discounts forfeited 100Net

31、 MethodCash Discounts Net method Sales 4,900Accounts receivable 4,900June 3Accounts receivable 4,900Cash 4,900June 12Net MethodCash Discounts Net method Estimated Bad Debts MethodBad debts can be estimated based on sales or on accounts receivable.Uncollectible Accounts Receivable Allowance MethodLos

32、ses are Estimated:Percentage-of-salesPercentage-of-receivablesMethods of Accounting for Uncollectible AccountsTheoretically undesirable:no matchingreceivable not stated at net realizable value 直接转销法 在坏账发生时直接冲减应收账款的账面余额。 Although generally not in accordance with GAAP, companies in their first year of

33、 operations who have no basis for estimating uncollectible accounts, and for whom uncollectible accounts are immaterial, may write off bad debts directly, as follows: Dr Bad debt expenseXX Cr Accounts Receivable XXDirect write-off method 备抵法 利润表法销售百分比法 Bad debt expense estimate is related to a nomin

34、al account (Credit Sales), any balance in the allowance account is ignored. Therefore, the method achieves a proper matching of cost and revenues. 资产负债表法应收账款百分比法 Estimating of expected uncollectible accounts based upon outstanding receivables. Results in a more accurate valuation of receivables on t

35、he balance sheet. Method may also be applied using an aging schedule(账龄分析法)Allowance for Doubtful AccountsIncome Statement ApproachBalance Sheet ApproachMatchingSales - Bad Debt ExpenseNet Realizable ValueReceivables - Allowance for Bad DebtAllowance for Doubtful Accounts “坏账准备- AFDA” We provide for

36、 potentially uncollectible accounts through the allowance for doubtful accounts, which is a contra account to Accounts Receivable. We do not Credit accounts receivable directly because at the time we estimate bad debt expense we do not necessarily know which specific customer accounts will prove to

37、be uncollectible.Allowance for Doubtful AccountsCredit sales $500,000Estimated % of credit sales not collected 1.25% Accounts receivable balance $72,500Estimated % of A/R not collected 8%Allowance for Doubtful Accounts:Case 1$150 (credit balance)Case 2$150 (debit balance)Allowance for Doubtful Accou

38、nts Charge sales$500,000Estimated percentagex 1.25%Estimated expense$ 6,250=What should the ending balance be for the allowance account? - Case 1 and Case 2Percentage of Sales MethodPercentage of SalesActual balance (credit) (150)150Adjustment(6,250)(6,250)Ending balance(6,400)(6,100)Journal entry:A

39、llowance for doubtful accounts 6,250Bad debt expense 6,250Case 1Case 2Accounts receivable$ 72,500Estimated percentagex 8%Desired balance$ 5,800=What should the ending balance be for the allowance account? - Case 1 and Case 2Percentage of ReceivablesActual balance (credit)(150)150Adjustment (5,650)(5

40、,950)Desired balance(5,800)(5,800)Journal entry Case 1:Allowance for doubtful accounts 5,650Bad debt expense 5,650Case 1Case 2Percentage of ReceivablesActual balance (credit)(150)150Adjustment (5,650)(5,950)Desired balance(5,800)(5,800)Case 1Case 2Percentage of ReceivablesJournal entry Case 2:Allowa

41、nce for doubtful accounts 5,950Bad debt expense 5,950Percentage of Receivables-Aging scheduleAssetsCurrent Assets:Cash $ 346Accounts receivable 500 Less allowance for doubtful accounts 25 475Inventory 812Prepaids _ 40Total current assets 1,673Fixed Assets:Office equipment 5,679Furniture & fixtures 6

42、,600Less: Accumulated depreciation (3,735)Total fixed assets 8,544 Total Assets $10,217 AssetsCurrent Assets:Cash $ 346Accounts receivable, net of $25 allowancefor doubtful accounts 475Inventory 812Prepaids _ 40Total current assets 1,673Fixed Assets:Office equipment 5,679Furniture & fixtures 6,600Le

43、ss: Accumulated depreciation (3,735)Total fixed assets 8,544 Total Assets $10,217 Write-offs and Recoveries At some point, we become certain that individual accounts will never be paid. At this point, we write off these accounts To write of a $500 account: Dr Allowance for doubtful accounts 500 Cr A

44、ccounts Receivable (specific customer) 500Write-offs and Recoveries Occasionally, accounts that had been written off are subsequently collected. We then reverse the write-off and record the collection. Comprehensive Example Balance Sheet Approach Comprehensive Example Balance Sheet Approach We now n

45、eed to adjust by the amount that produces the required ending balance of $42,000: Bad debt expense30,000 AFDA 30,000Comprehensive Example Balance Sheet Approach A note receivable is an unconditional written agreement to collect a certain sum of money on a specific date.Notes ReceivableNotes Receivab

46、le Notes Receivable Supported by a formal promissory note, which is a written promise to pay a specific sum of money at a specific future date. Characteristics A negotiable instrument（可转让票据） Maker signs in favor of a Payee Always contain an interest element Interest-bearing (has a stated rate of interest) OR Noninterest-bearing (interest included in face amount)Notes Receivable Generally originate from Lending transactions (the majority