中外比较会计ch7ppt课件

1、Chapter 7 Plant Assets orProperty, Plant and Equipment (PPE) (P188/310-210/332)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 减值国际会计准则国际会计准则IAS16经过修订由经过修订由原来的原来的“固定资产会计更名为固定资产会计更名为“不动产、厂房和设备不动产、厂房和设备(Property, plant, and equipment)”，是近年，是近

2、年来国外会计界在探讨取消固定效来国外会计界在探讨取消固定效益益Fixed assets这一概念的一这一概念的一种反映。种反映。lExample:l Coco-cola annual report l Page 31 l lGE financial statement l Page 321.plant assets are physical objects. (tangible)2.plant assets are acquired to be used in operations. (not for sale) 3.plant assets provide benefits over seve

3、ral accounting periods. (long term)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. l1. Land(P190/312):purchase price, brokerage commission

4、, 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。l2.Buildings P191-192/313-314l3.Machinery and Equipment (p192/314)l a. net purchase price 净购价 l b. freigh

5、t /transportation charges 运输费 l c.insurance in transit 在途保险费l d.sales and other taxes 销售税及其他税l e.installation cost 安装成本l f. testing cost 试运行成本lImprovements to real estate such as driveways, fences, parking lots, sprinkler systems have a limited life and therefore are recorded in another account .(bu

6、t sewer installation should be included in the land account)5.Construction in Progress (p192/314)在建工程在建工程 a plant asset that is being constructedl1.purchasesl Land 100,000l Cash l (accounts payable) 100,000 l 2.acquiring a donated assetsl Building 200,000l Donated Capital 200,000l 3.by issuing stock

7、 Dr. Land Cr. Common stock普通股） Contributed capital in excess of par （资本公积）4.Lump-sum (basket) purchases (p193/315)一揽子购买 To allocate the acquisition cost among the assets on the basis of the relative fair market value公允市价） of each. Assume that a firm acquired land and a building in a lump-sum purchas

8、e for $90,000 cash.The land has an estimate fair market value of $25,000 and the building $75,000. Land 22,500 (90,000*25,000/100,000) Building 67,500 Cash 90,000l5.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 $

9、1,000,000 note.the machinerys market value is $600,000.Dr. Machinery 600,000 Discount on installment payable 400,000 Cr. Installment payable 1,000,000 Dr. Interest expense Cr. Discount on installment payableEXPENDITUREIncreases operating efficiency or adds to capacity?Capital Expenditure (Debit plan

10、t asset account)Increases useful life (extraordinary repairs)?Capital Expenditure (Debit accumulated depreciation account)Revenue Expenditure (Debit expense account for ordinary maintenance and repairs)l1.straight-line method (SL)l(Cost Residual value)/Years of Useful Lifel2. units-of production met

11、hod (UOP)l(Cost Residual value)/Estimated Units of Productionl3.declining-balance method l (double-declining-balance, DDBl 150% declining-balance)l used in income tax returns, rather than financial statementlAnnual depreciation expense =Remaining book value DB ratelNotice that the residual value of

12、a plant asset does not enter into the computation of depreciation expense by the declining-balance method.l4.Sum-of the-years-digits methodlDepreciation Expensel Accumulated depreciationP325/203 TranslationMost companies use the straight-line depreciation method for reporting to their stockholders a

13、nd creditors on their financial statements. They also keep a separate set of depreciation records for computing their income taxes. For income tax purposes, most companies use an accelerated depreciation method .Suppose you are a business manager. The IRS allows an accelerated depreciation method ,

14、which most managers prefer to straight-line depreciation. 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.MACRS depreciation for tax purposes (P326/204)MACRS: M

15、odified Accelerated Cost Recovery System 修订的加速成本回收制The Tax Reform Act of 1986lPurchased 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lThis correction affects only the amount of depreciation e

16、xpense that will be 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lThe change and its effect should be reported in notes to the financial statement.l Example P328

17、/206When 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.Gain or loss will be reported in the income statement as Other Income or Other Loss.When plant assets are sold, the owner may break even,

18、sustain a loss, or realize a gain.Dr. Cash Accumulated Depr.Equipment Loss on Disposal of plant assets Cr. Equipment Gain on Disposal of plant assetsExercise: company sold a building with a historical cost of $200,000 and accumulated depreciation of $140,000 at the date of disposal for $80,000 cash.

19、l Cash 80,000l Accu. Depn. 140,000l Buildings 200,000l Gain on sale of building 20,000lTransfer the book value of the old asset plus any cash payment into the new asset accountThe impairment减值）减值） of plant assets If the cost of an asset cannot be recovered through future use or sale, the asset should be written down减记）减记） to its net realizable value. The offsetting debit is