中外比较会计ch最新课件

1、中外比较会计ch最新Chapter 7 Plant Assets orProperty, Plant and Equipment (PPE) (P188/310-210/332)中外比较会计ch最新lrevenue expenditure 收益性支出lcapital expenditure 资本性支出lBook value 账面价值lResidual (salvage) value 残值lImpairment 减值中外比较会计ch最新国际会计准则国际会计准则IAS16经过修订由原来经过修订由原来的的“固定资产会计固定资产会计”更名为更名为“不动产、不动产、厂房和设备厂房和设备(Property

2、, plant, and equipment)”，是近年来国外会计界，是近年来国外会计界在探讨取消固定效益（在探讨取消固定效益（Fixed assets）这一概念的一种反映。这一概念的一种反映。中外比较会计ch最新Example: Coco-cola annual report Page 31 GE financial statement Page 32中外比较会计ch最新1.plant assets are physical objects. (tangible)2.plant assets are acquired to be used in operations. (not for sa

3、le) 3.plant assets provide benefits over several accounting periods. (long term)中外比较会计ch最新lApplication of history cost principlelThe initial cost of a plant asset includes all expenditures necessary to get it in place and ready for use, such as related tax, interest, freight charges, insurance etc.

4、中外比较会计ch最新l1. Land(P190/312):purchase price, brokerage commission, survey fees ,legal fees, property taxes, expenditures for grading and clearing the land and for demolishing and removing the unwanted buildings.购买价格、经纪人佣金、测量费、法律费、财产税，平整和清理支出以及摧毁和移动所不需要的建筑物的支出。中外比较会计ch最新l2.Buildings P191-192/313-314l

5、3.Machinery and Equipment (p192/314)l a. net purchase price 净购价 b. freight /transportation charges 运输费 c.insurance in transit 在途保险费 d.sales and other taxes 销售税及其他税 e.installation cost 安装成本 f. testing cost 试运行成本中外比较会计ch最新lImprovements to real estate such as driveways, fences, parking lots, sprinkler

6、systems have a limited life and therefore are recorded in another account .(but sewer installation should be included in the land account)中外比较会计ch最新5.Construction in Progress (p192/314)在建工程在建工程l a plant asset that is being constructed中外比较会计ch最新l1.purchases Land 100,000 Cash (accounts payable) 100,00

7、0 中外比较会计ch最新l 2.acquiring a donated assets Building 200,000 Donated Capital 200,000 中外比较会计ch最新3.by issuing stock Dr. Land Cr. Common stock（普通股） Contributed capital in excess of par （资本公积）中外比较会计ch最新l4.Lump-sum (basket) purchases (p193/315)一揽子购买 To allocate the acquisition cost among the assets on the

8、 basis of the relative fair market value（公允市价） of each.中外比较会计ch最新 Assume that a firm acquired land and a building in a lump-sum purchase for $90,000 cash.The land has an estimate fair market value of $25,000 and the building $75,000. 中外比较会计ch最新 Land 22,500 (90,000*25,000/100,000) Building 67,500 Cas

9、h 90,000中外比较会计ch最新l5.purchases with installment payment（分期付款）（分期付款）lArthur purchased machinery from General Co. on installment plan. Arthur issued a 10-year $1,000,000 note.the machinerys market value is $600,000.中外比较会计ch最新Dr. Machinery 600,000 Discount on installment payable 400,000 Cr. Installment

10、 payable 1,000,000中外比较会计ch最新 Dr. Interest expense Cr. Discount on installment payable中外比较会计ch最新EXPENDITUREIncreases operating efficiency or adds to capacity?Capital Expenditure (Debit plant asset account)Increases useful life (extraordinary repairs)?Capital Expenditure (Debit accumulated depreciatio

11、n account)Revenue Expenditure (Debit expense account for ordinary maintenance and repairs)中外比较会计ch最新l1.straight-line method (SL)l(Cost Residual value)/Years of Useful Life中外比较会计ch最新l2. units-of production method (UOP)l(Cost Residual value)/Estimated Units of Production中外比较会计ch最新l3.declining-balance

12、method (double-declining-balance, DDB 150% declining-balance) used in income tax returns, rather than financial statementlAnnual depreciation expense =Remaining book value DB ratelNotice that the residual value of a plant asset does not enter into the computation of depreciation expense by the decli

13、ning-balance method.中外比较会计ch最新l4.Sum-of the-years-digits methodDepreciation Expense Accumulated depreciation中外比较会计ch最新P325/203 TranslationMost companies use the straight-line depreciation method for reporting to their stockholders and creditors on their financial statements. They also keep a separat

14、e set of depreciation records for computing their income taxes. For income tax purposes, most companies use an accelerated depreciation method .中外比较会计ch最新Suppose you are a business manager. The IRS allows an accelerated depreciation method , which most managers prefer to straight-line depreciation.

15、Why? Because it provides the most depreciation expense as quickly as possible, thus decreasing your immediate tax payments. You can then apply the cash you save to fit your business needs.中外比较会计ch最新MACRS depreciation for tax purposes (P326/204)MACRS: Modified Accelerated Cost Recovery System 修订的加速成本

16、回收制The Tax Reform Act of 1986中外比较会计ch最新lPurchased on or before the 15th of a month, record a full months depreciationlPurchased after the 15th of a month, record no depreciationlHalf-year convention 半年期惯例中外比较会计ch最新中外比较会计ch最新lThis correction affects only the amount of depreciation expense that will b

17、e recorded in the current and future periods. The financial statements of past periods are not revised to reflect changes in the estimated useful lives of depreciable assets. 未来适用法不用追溯调整未来适用法不用追溯调整中外比较会计ch最新lThe change and its effect should be reported in notes to the financial statement. Example P3

18、28/206中外比较会计ch最新When Plant assets lose their usefulness they may be disposed of in one of the following ways:1. discarded,2. sold, or3. traded (exchanged) for similar assets.中外比较会计ch最新Gain or loss will be reported in the income statement as Other Income or Other Loss.When plant assets are sold, the

19、owner may break even, sustain a loss, or realize a gain.中外比较会计ch最新Dr. Cash Accumulated Depr.Equipment Loss on Disposal of plant assets Cr. Equipment Gain on Disposal of plant assets中外比较会计ch最新Exercise: company sold a building with a historical cost of $200,000 and accumulated depreciation of $140,000

20、 at the date of disposal for $80,000 cash.中外比较会计ch最新l Cash 80,000 Accu. Depn. 140,000 Buildings 200,000 Gain on sale of building 20,000中外比较会计ch最新lTransfer the book value of the old asset plus any cash payment into the new asset account中外比较会计ch最新The impairment（减值）（减值） of plant assetsl lIf the cost of an asset cannot be recovered through future use or sale, the asset should be written down（减记） to its net realizable value. The offsetting debit is to a los