会计学原理(双语)IChap010课件

PlantAssets,NaturalResources,andIntangiblesChapter10PlantAssets,NaturalResourcePlantAssetsTangibleinNatureC1PlantAssetsTangibleinNaturePLANTASSETSC1PLANTASSETSC1Acquisition

CostAcquisitioncostexcludesfinancingchargesand

cashdiscountsAllexpendituresneededtopreparetheassetforitsintendedusePurchase

priceCostDeterminationC1Acquisition

CostAcquisitioncoLandisnotdepreciable.Purchase

priceRealestatecommissionsTitleinsurancepremiumsDelinquenttaxesSurveying

feesTitlesearchandtransferfeesLandC1Landisnotdepreciable.PurchaLandImprovementsParkinglots,driveways,fences,walks,shrubs,andlightingsystems.Depreciate

overusefullifeofimprovements.C1LandImprovementsParkinglots,CostofpurchaseorconstructionBrokerage

feesTaxesTitlefeesAttorneyfeesBuildingsC1CostofpurchaseorconstructiPurchase

priceInstalling,

assembling,and

testingInsurancewhile

intransitTaxesTransportationchargesMachineryandEquipmentC1Purchase

priceInstalling,

asseLump-SumPurchase

CarMaxpaid$90,000cashtoacquireagroupofitemsconsistingoflandappraisedat$30,000,landimprovementsappraisedat$10,000,andabuildingappraisedat$60,000.The$90,000costwillbeallocatedonthebasisofappraisedvaluesasshown:Thetotalcostofacombinedpurchaseoflandandbuildingisseparatedonthebasisoftheirrelativefairmarketvalues.P1Lump-SumPurchaseCarMaxpa.

Plantassetsareusedinoperationsandhaveusefullivesthatextendovermorethanoneaccountingperiod.

Iflandispurchasedasabuildingsite,thecostofremovingexistingstructuresisnotchargedtotheLandaccount.

Depreciationistheprocessofallocatingthecostofaplantassettoexpenseintheaccountingperiodsbenefitingfromitsuse.

.

PlantassetsareusedinopeAnasset'scostincludesallnormalandreasonableexpendituresnecessarytogettheassetinplaceandreadyforitsintendeduse.

Thepurchaseofapropertythatincludedland,building,andrelatedimprovementsiscalledalump-sumpurchase.

Landisnotsubjecttodepreciationbecauseithasanunlimitedlife.Thismeansthatitemswhichincreasetheusefulnessofthelandsuchasparkinglotsarenotdepreciated.

Anasset'scostincludesalln

Thecostoffeesforinsuringthetitleandanyaccruedpropertytaxesareincludedinthecostofland.

ThecostoffeesforinsuringDepreciationistheprocessofallocatingthecostofaplantassettoexpenseintheaccountingperiodsbenefitingfromitsuse.

CostAllocationAcquisition

Cost(Unused)BalanceSheet(Used)IncomeStatementExpenseDepreciationP1DepreciationistheprocessofFactorsinComputingDepreciation

Thecalculationofdepreciationrequiresthreeamountsforeachasset:

1.Cost 2.

SalvageValue 3.UsefulLifeP1FactorsinComputingDepreciatDepreciationMethods

Straight-lineUnits-of-productionDeclining-balanceAssetwewilldepreciateinfuturescreensP1DepreciationMethodsStraight-Straight-LineMethodP1Straight-LineMethodP1BalanceSheetPresentationMachinery$10,000

Less:accumulateddepreciation3,600

$6,400

P1Straight-LineMethodBalanceSheetPresentationMacStraight-LineDepreciationScheduleP1SalvageValueStraight-LineDepreciationSchUnits-of-ProductionMethodStep2:DepreciationExpense=DepreciationPerUnit×NumberofUnitsProduced

inthePeriodDepreciationPerUnit=Cost-SalvageValueTotalUnitsofProductionStep1:P1Units-of-ProductionMethodStepUnits-of-ProductionMethodDepreciationPerUnit=Cost-SalvageValueTotalUnitsofProductionStep1:=$9,000

36,000=$0.25/unitStep2:DepreciationExpense=DepreciationPerUnit×NumberofUnitsProduced

inthePeriod=$0.25×7,000=$1,750Assumethat7,000unitswereinspectedduring2013.Depreciationwouldbecalculatedasfollows:P1Units-of-ProductionMethodDeprUnits-of-Production

DepreciationScheduleP1Unitsproducedandsoldduringtheperiod.Units-of-Production

DepreciatiDouble-Declining-BalanceMethodP1Double-Declining-BalanceMethoDouble-Declining-BalanceMethodP1Double-Declining-BalanceMethoComparingDepreciationMethodsP1MethodsUsedbyCompaniesComparingDepreciationMethodsDepreciationforTaxReportingMostcorporationsusetheModifiedAcceleratedCostRecoverySystem(MACRS)fortaxpurposes.MACRSdepreciationprovidesforrapidwrite-offofanasset’scostinordertostimulatenewinvestment.P1DepreciationforTaxReportingPartial-YearDepreciationWhenaplantassetisacquiredduringtheyear,depreciationiscalculatedforthefractionoftheyeartheassetisowned.Cost$10,000Salvagevalue1,000Depreciablecost$9,000Usefullife

Accountingperiods5yearsUnitsinspected36,000unitsAssumeourmachinerywaspurchasedonOctober8,2013.Let’scalculatedepreciationexpensefor2013,assumingweusestraight-linedepreciation.C2Partial-YearDepreciationWDepreciation

isanestimatePredicted

salvagevaluePredicted

usefullifeChangesinEstimatesforDepreciationOverthelifeofanasset,newinformationmaycometolightthatindicatestheoriginalestimateswereinaccurate.C2Depreciation

isanestimatePreChangesinEstimatesforDepreciationLet’slookatourmachineryfromthepreviousexamplesandassumethatatthebeginningoftheasset’sthirdyear,itsbookvalueis$6,400($10,000costless$3,600accumulateddepreciationusingstraight-linedepreciation).Atthattime,itisdeterminedthatthemachinerywillhavearemainingusefullifeof4years,andtheestimatedsalvagevaluewillbereviseddownwardfrom$1,000to$400.C2ChangesinEstimatesforDepreReportingDepreciationDaleJarrettRacingAdventureOfficefurnitureandequipment

$54,593Shopandtrackequipment

202,973Racevehiclesandother

975,084Propertyandequipment,gross

1,232,650

Less:accumulateddepreciation

628,355Propertyandequipment,net

$604,295

C2ReportingDepreciationDaleJarAdditionalExpenditures

Iftheamountsinvolvedarenotmaterial,mostcompaniesexpensetheitem.C3AdditionalExpendituresIfthRevenueandCapital

ExpendituresC3RevenueandCapital

ExpenditurRecordingcash

received(debit)

orpaid(credit).Removingaccumulated

depreciation(debit).

Updatedepreciation

tothedateofdisposal.Journalizedisposalby:Removingthe

assetcost(credit).Recordinga

gain(credit)orloss(debit).DisposalsofPlantAssetsP2Recordingcash

received(debitUpdatedepreciation

tothedateofdisposal.Journalizedisposalby:DiscardingPlantAssetsRecordingcash

received(debit)

orpaid(credit).Removingaccumulated

depreciation(debit).Removingthe

assetcost(credit).Recordinga

gain(credit)orloss(debit).P2Updatedepreciation

totheAmachinecosting$9,000,withaccumulateddepreciationof$9,000onDecember31stofthepreviousyearwasdiscardedonJune5thofthecurrentyear.Thecompanyisdepreciatingtheequipmentusingthestraight-linemethodovereightyearswithzerosalvagevalue.DiscardingPlantAssetsP2Amachinecosting$9,000,wEquipmentcosting$8,000,withaccumulateddepreciationof$6,000onDecember31stofthepreviousyearwasdiscardedonJuly1stofthecurrentyear.Thecompanyisdepreciatingtheequipmentusingthestraight-linemethodovereightyearswithzerosalvagevalue.DiscardingPlantAssetsStep1:Bringthedepreciationup-to-date.Step2:Recorddiscardingofasset.P2Equipmentcosting$8,000,wSellingPlantAssetsOnMarch31st,BTOsellsequipmentthatoriginallycost$16,000andhasaccumulateddepreciationof$12,000atDecember31stofthepriorcalendaryear-end.Annualdepreciationonthisequipmentis$4,000usingstraight-linedepreciation.Theequipmentissoldfor$3,000cash.P2Step1:UpdatedepreciationtoMarch31st.Step2:Recordsaleofassetatbookvalue($16,000-$13,000=$3,000).SellingPlantAssetsOnMarch3SellingPlantAssetsP2OnMarch31st,BTOsellsequipmentthatoriginallycost$16,000andhasaccumulateddepreciationof$12,000atDecember31stofthepriorcalendaryear-end.Annualdepreciationonthisequipmentis$4,000usingstraight-linedepreciation.Theequipmentissoldfor$2,500cash.Step1:UpdatedepreciationtoMarch31st.Step2:Recordsaleofassetataloss(Bookvalue$3,000-$2,500cashreceived).SellingPlantAssetsP2OnMarcTotalcost,

including

explorationand

development,

ischargedto

depletionexpense

overperiods

benefited.Extractedfrom

thenatural

environment

andreported

atcostless

accumulated

depletion.NaturalResourcesExamples:oil,coal,goldP3Totalcost,

including

exploraCostDetermination

andDepletionP3Let’sconsideramineraldepositwithanestimated250,000tonsofavailableore.Itispurchasedfor$500,000,andweexpectzerosalvagevalue.CostDetermination

andDepletiDepletionofNaturalResourcesP3Depletionexpenseinthefirstyearwouldbe:BalanceSheetpresentationofnaturalresources:DepletionofNaturalResourcesPlantAssetsUsedinExtractingSpecializedplantassetsmayberequiredtoextractthenaturalresource.Theseassetsarerecordedinaseparateaccountanddepreciated.P3PlantAssetsUsedinExtractinNoncurrentassets

withoutphysical

substance.Usefullifeis

oftendifficult

todetermine.Usuallyacquired

foroperational

use.Intangible

AssetsOftenprovide

exclusiverights

orprivileges.IntangibleAssetsP4Noncurrentassets

withoutphysCostDeterminationandAmortizationPatentsCopyrightsLeaseholdsLeaseholdImprovementsFranchisesandLicensesGoodwillTrademarksandTradeNamesOtherIntangibles

Recordatcurrentcashequivalentcost,includingpurchaseprice,legalfees,andfilingfees.P4CostDeterminationandAmortizGlobalViewThereisoneareawherenotabledifferencesexist,andthatisinaccountingforchangesinthevalueofplantassets(betweenthetimetheyareacquiredanddisposedof).Namely,howdoesIFRSandU.S.GAAPtreatdecreasesandincreasesinthevalueofplantassetssubsequenttoacquisition?DecreasesintheValueofPlantAssetsBothU.S.GAAPandIFRSrequirethatanimpairmentinvalueberecognized.IncreasesintheValueofPlantAssetsU.S.GAAPprohibitsrecordingincreaseinvalueofplantassets.IFRSpermitsupwardassetrevaluation.GlobalViewThereisoneareawProvidesinformationaboutacompany’s

efficiencyinusingitsassets.TotalAssetTurnover=NetSalesAverageTotalAssetsTotalAssetTurnoverA1Providesinformationaboutac10A–ExchangingPlantAssetsP5AManyplantassetssuchasmachinery,automobiles,andofficeequipmentaredisposedofbyexchangingthemfornewerassets.Inatypicalexchangeofplantassets,atrade-inallowanceisreceivedontheoldassetandthebalanceispaidincash.Accountingfortheexchangeofassetsdependsonwhetherthetransactionhascommercialsubstance.Commercialsubstanceimpliesthecompany’sfuturecashflowswillbealtered.10A–ExchangingPlantAssetsPExchangewithCommercialSubstance:ALossAcompanyacquires$42,000innewequipment.Inexchange,thecompanypays$33,000cashandtradesinoldequipment.Theoldequipmentoriginallycost$36,000andhasaccumulateddepreciationof$20,000(bookvalueis$16,000).Thisexchangehascommercialsubstance.Theoldequipmenthasatrade-inallowanceof$9,000.P5AExchangewithCommercialSubstExchangewithCommercialSubstance:ALossAcompanyacquires$42,000innewequipment.Inexchange,thecompanypays$33,000cashandtradesinoldequipment.Theoldequipmentoriginallycost$36,000andhasaccumulateddepreciationof$20,000(bookvalueis$16,000).Thisexchangehascommercialsubstance.Theoldequipmenthasatrade-inallowanceof$9,000.P5AExchangewithCommercialSubstExchangesWithoutCommercialSubstanceLet’sassumethesamefactsasonthepreviousscreenexceptthatthemarketvalueofthenewequipmentreceivedis$52,000andthetransactionlackscommercialsubstance.P5AExchangesWithoutCommercialSExchangesWithoutCommercialSubstanceLet’sassumethesamefactsasonthepreviousscreenexceptthatthemarketvalueofthenewequipmentreceivedis$52,000andthetransactionlackscommercialsubstance.P5AExchangesWithoutCommercialSEndofChapter10EndofChapter10PlantAssets,NaturalResources,andIntangiblesChapter10PlantAssets,NaturalResourcePlantAssetsTangibleinNatureC1PlantAssetsTangibleinNaturePLANTASSETSC1PLANTASSETSC1Acquisition

CostAcquisitioncostexcludesfinancingchargesand

cashdiscountsAllexpendituresneededtopreparetheassetforitsintendedusePurchase

priceCostDeterminationC1Acquisition

CostAcquisitioncoLandisnotdepreciable.Purchase

priceRealestatecommissionsTitleinsurancepremiumsDelinquenttaxesSurveying

feesTitlesearchandtransferfeesLandC1Landisnotdepreciable.PurchaLandImprovementsParkinglots,driveways,fences,walks,shrubs,andlightingsystems.Depreciate

overusefullifeofimprovements.C1LandImprovementsParkinglots,CostofpurchaseorconstructionBrokerage

feesTaxesTitlefeesAttorneyfeesBuildingsC1CostofpurchaseorconstructiPurchase

priceInstalling,

assembling,and

testingInsurancewhile

intransitTaxesTransportationchargesMachineryandEquipmentC1Purchase

priceInstalling,

asseLump-SumPurchase

CarMaxpaid$90,000cashtoacquireagroupofitemsconsistingoflandappraisedat$30,000,landimprovementsappraisedat$10,000,andabuildingappraisedat$60,000.The$90,000costwillbeallocatedonthebasisofappraisedvaluesasshown:Thetotalcostofacombinedpurchaseoflandandbuildingisseparatedonthebasisoftheirrelativefairmarketvalues.P1Lump-SumPurchaseCarMaxpa.

Plantassetsareusedinoperationsandhaveusefullivesthatextendovermorethanoneaccountingperiod.

Iflandispurchasedasabuildingsite,thecostofremovingexistingstructuresisnotchargedtotheLandaccount.

Depreciationistheprocessofallocatingthecostofaplantassettoexpenseintheaccountingperiodsbenefitingfromitsuse.

.

PlantassetsareusedinopeAnasset'scostincludesallnormalandreasonableexpendituresnecessarytogettheassetinplaceandreadyforitsintendeduse.

Thepurchaseofapropertythatincludedland,building,andrelatedimprovementsiscalledalump-sumpurchase.

Landisnotsubjecttodepreciationbecauseithasanunlimitedlife.Thismeansthatitemswhichincreasetheusefulnessofthelandsuchasparkinglotsarenotdepreciated.

Anasset'scostincludesalln

Thecostoffeesforinsuringthetitleandanyaccruedpropertytaxesareincludedinthecostofland.

ThecostoffeesforinsuringDepreciationistheprocessofallocatingthecostofaplantassettoexpenseintheaccountingperiodsbenefitingfromitsuse.

CostAllocationAcquisition

Cost(Unused)BalanceSheet(Used)IncomeStatementExpenseDepreciationP1DepreciationistheprocessofFactorsinComputingDepreciation

Thecalculationofdepreciationrequiresthreeamountsforeachasset:

1.Cost 2.

SalvageValue 3.UsefulLifeP1FactorsinComputingDepreciatDepreciationMethods

Straight-lineUnits-of-productionDeclining-balanceAssetwewilldepreciateinfuturescreensP1DepreciationMethodsStraight-Straight-LineMethodP1Straight-LineMethodP1BalanceSheetPresentationMachinery$10,000

Less:accumulateddepreciation3,600

$6,400

P1Straight-LineMethodBalanceSheetPresentationMacStraight-LineDepreciationScheduleP1SalvageValueStraight-LineDepreciationSchUnits-of-ProductionMethodStep2:DepreciationExpense=DepreciationPerUnit×NumberofUnitsProduced

inthePeriodDepreciationPerUnit=Cost-SalvageValueTotalUnitsofProductionStep1:P1Units-of-ProductionMethodStepUnits-of-ProductionMethodDepreciationPerUnit=Cost-SalvageValueTotalUnitsofProductionStep1:=$9,000

36,000=$0.25/unitStep2:DepreciationExpense=DepreciationPerUnit×NumberofUnitsProduced

inthePeriod=$0.25×7,000=$1,750Assumethat7,000unitswereinspectedduring2013.Depreciationwouldbecalculatedasfollows:P1Units-of-ProductionMethodDeprUnits-of-Production

DepreciationScheduleP1Unitsproducedandsoldduringtheperiod.Units-of-Production

DepreciatiDouble-Declining-BalanceMethodP1Double-Declining-BalanceMethoDouble-Declining-BalanceMethodP1Double-Declining-BalanceMethoComparingDepreciationMethodsP1MethodsUsedbyCompaniesComparingDepreciationMethodsDepreciationforTaxReportingMostcorporationsusetheModifiedAcceleratedCostRecoverySystem(MACRS)fortaxpurposes.MACRSdepreciationprovidesforrapidwrite-offofanasset’scostinordertostimulatenewinvestment.P1DepreciationforTaxReportingPartial-YearDepreciationWhenaplantassetisacquiredduringtheyear,depreciationiscalculatedforthefractionoftheyeartheassetisowned.Cost$10,000Salvagevalue1,000Depreciablecost$9,000Usefullife

Accountingperiods5yearsUnitsinspected36,000unitsAssumeourmachinerywaspurchasedonOctober8,2013.Let’scalculatedepreciationexpensefor2013,assumingweusestraight-linedepreciation.C2Partial-YearDepreciationWDepreciation

isanestimatePredicted

salvagevaluePredicted

usefullifeChangesinEstimatesforDepreciationOverthelifeofanasset,newinformationmaycometolightthatindicatestheoriginalestimateswereinaccurate.C2Depreciation

isanestimatePreChangesinEstimatesforDepreciationLet’slookatourmachineryfromthepreviousexamplesandassumethatatthebeginningoftheasset’sthirdyear,itsbookvalueis$6,400($10,000costless$3,600accumulateddepreciationusingstraight-linedepreciation).Atthattime,itisdeterminedthatthemachinerywillhavearemainingusefullifeof4years,andtheestimatedsalvagevaluewillbereviseddownwardfrom$1,000to$400.C2ChangesinEstimatesforDepreReportingDepreciationDaleJarrettRacingAdventureOfficefurnitureandequipment

$54,593Shopandtrackequipment

202,973Racevehiclesandother

975,084Propertyandequipment,gross

1,232,650

Less:accumulateddepreciation

628,355Propertyandequipment,net

$604,295

C2ReportingDepreciationDaleJarAdditionalExpenditures

Iftheamountsinvolvedarenotmaterial,mostcompaniesexpensetheitem.C3AdditionalExpendituresIfthRevenueandCapital

ExpendituresC3RevenueandCapital

ExpenditurRecordingcash

received(debit)

orpaid(credit).Removingaccumulated

depreciation(debit).

Updatedepreciation

tothedateofdisposal.Journalizedisposalby:Removingthe

assetcost(credit).Recordinga

gain(credit)orloss(debit).DisposalsofPlantAssetsP2Recordingcash

received(debitUpdatedepreciation

tothedateofdisposal.Journalizedisposalby:DiscardingPlantAssetsRecordingcash

received(debit)

orpaid(credit).Removingaccumulated

depreciation(debit).Removingthe

assetcost(credit).Recordinga

gain(credit)orloss(debit).P2Updatedepreciation

totheAmachinecosting$9,000,withaccumulateddepreciationof$9,000onDecember31stofthepreviousyearwasdiscardedonJune5thofthecurrentyear.Thecompanyisdepreciatingtheequipmentusingthestraight-linemethodovereightyearswithzerosalvagevalue.DiscardingPlantAssetsP2Amachinecosting$9,000,wEquipmentcosting$8,000,withaccumulateddepreciationof$6,000onDecember31stofthepreviousyearwasdiscardedonJuly1stofthecurrentyear.Thecompanyisdepreciatingtheequipmentusingthestraight-linemethodovereightyearswithzerosalvagevalue.DiscardingPlantAssetsStep1:Bringthedepreciationup-to-date.Step2:Recorddiscardingofasset.P2Equipmentcosting$8,000,wSellingPlantAssetsOnMarch31st,BTOsellsequipmentthatoriginallycost$16,000andhasaccumulateddepreciationof$12,000atDecember31stofthepriorcalendaryear-end.Annualdepreciationonthisequipmentis$4,000usingstraight-linedepreciation.Theequipmentissoldfor$3,000cash.P2Step1:UpdatedepreciationtoMarch31st.Step2:Recordsaleofassetatbookvalue($16,000-$13,000=$3,000).SellingPlantAssetsOnMarch3SellingPlantAssetsP2OnMarch31st,BTOsellsequipmentthatoriginallycost$16,000andhasaccumulateddepreciationof$12,000atDecember31stofthepriorcalendaryear-end.Annualdepreciationonthisequipmentis$4,000usingstraight-linedepreciation.Theequipmentissoldfor$2,500cash.Step1:UpdatedepreciationtoMarch31st.Step2:Recordsaleofassetataloss(Bookvalue$3,000-$2,500cashreceived).SellingPlantAssetsP2OnMarcTotalcost,

including

explorationand

development,

ischargedto

depletionexpense

overperiods

benefited.Extractedfrom

thenatural

environment

andreported

atcostless

accumulated

depletion.NaturalResourcesExamples:oil,coal,goldP3Totalcost,

including

exploraCostDetermination

andDepletionP3Let’sconsideramineraldepositwithanestimated250,000tonsofavailableore.Itispurchasedfor$500,000,andweexpectzerosalvagevalue.CostDetermination

andDepletiDepletionofNaturalResourcesP3Depletionexpenseinthefirstyearwouldbe:BalanceSheetpresentationofnaturalresources:DepletionofNaturalResourcesPlantAssetsUsedinExtractingSpecializedplantassetsmayberequiredtoextractthenaturalresource.Theseassetsarerecordedinaseparateaccountanddepreciated.P3PlantAssetsUsedinExtractinNoncurrentassets

withoutphysical

substance.Usefullifeis

oftendifficult

todetermine.Usuallyacquired

foroperational

use.Intangible

AssetsOftenprovide

exclusiverights

orprivileges.IntangibleAssetsP4Noncurrentassets

withoutphysCostDeterminationandAmortizationPatentsCopyrightsLeaseholdsLeaseholdImprovementsFranchisesandLicensesGoodwillTrademarksandTradeNamesOtherIntangibles

Recordatcurrentcashequivalentcost,includingpurchaseprice,legalfees,andfilingfees.P4CostDeterminationandAmortizGlobalViewThereisoneareawheren