中级财会CashandReceivables现金及应收账款

Chapter2CashandReceivables第二章现金及应收款PartACashandCashEquivalentsInthispart,wearegoingtolearn:CashCashequivalentsCashCashincludescurrencyandcoins,balancesincheckingaccounts,anditemsacceptablefordepositintheseaccounts.现金包括纸币、硬币、银行支票存款账户的余额以及可以存入这些账户的款项。Simply,“cash”=moneyholdinhand+money

inthebankCashEquivalentsCash

Equivalentsincludemoneymarketfunds,treasurybills,andcommercialpaper.现金等价物包括货币市场基金、国库券和商业票据等。Thematuritydate(到期日)forcashequivalentsshouldbenolongerthanthreemonthsfromthedateofpurchase.PartBCurrentReceivables短期应收款Inthispart,wearegoingtolearn:Theclassificationof“Receivables”AccountsreceivableNotesreceivableReceivablesReceivablesareacompany’sclaimstothefuturecollectionofcash,otherassetsorservices.应收款是企业在未来要求收取现金、其他资产或者服务的权利。ReceivablesTradereceivables商业应收款:resultingfromthesaleofgoodsorservices.Nontradereceivables非商业应收款:notresultingfromthesaleofgoodsorservices.Exp.AccountsReceivableExp.InterestReceivableAccountsReceivableAccountsreceivablearecomingfromcreditsale(赊销).Accountsreceivablearesupportedbythecustomer’screditandaninvoice.Notesreceivablearesupportedbythenoteandaninvoice.Accountsreceivableareclassifiedascurrentassets,becausetheircollectionperiod(收款期)isusuallylessthanoneyear.ARarerecognizedonthedaywhenwedeliverthegoods/services.InitialValuationofAccountsReceivable

应收账款的初始计量Twopartswillbediscussed:TradediscountsCashdiscountsTradeDiscountsTradeDiscounts:apercentagereductionfromthelistpricethatcompaniesoffertotheircustomers.(pricereduction)商业折扣：公司为顾客提供的、从零售价中扣减一定百分比的折扣。(价格扣减)Tradediscountsareoftenofferedtothosecustomerswhopurchasegoods/servicesinlargequantity.Inaccounting,weuse“netprice”torecordARandsalesrevenue.Netprice=fullprice–tradediscountTradeDiscountsExp.Acompanysellsamachineatapriceof$2,500,butsellsittoacustomeratlistlessa10%discount.(creditsale)Netprice=fullprice-tradediscount=$2,500-$2500×10%=$2,250Dr.AccountsReceivable2,250Cr.SalesRevenue2,250

CashDiscountsCashDiscounts:oftencalledsalesdiscounts,representreductionsnotinthesellingpriceofagoodorservicebutintheamounttobepaidbyacreditcustomerifpaidwithinaspecifiedperiodoftime.(reductioninpayment)现金折扣：又称为销售折扣，它并不是对商品或劳务销售价格的减少，而是对赊购客户在特定的期间内付款而给予应付款金额的减少。(应付款的减少)Itisadiscountintendedtoprovideincentiveforquickpayment.(encouragecustomerstopaythecashassoonaspossible)CashDiscountsExp.Ourcompanyofferedcashdiscount:2/10,n/30.2/10,meaninga2%discountifpaidwithin10days.(10days---discountperiod)n/30,meaningnodiscountifpaidwithin30days.Twowaystorecordcashdiscounts:GrossmethodNetmethodGrossmethod总价法Howtousegrossmethod:Atfirst,usethefullpricetorecordaccountsreceivable.Ifthecashdiscountisrealized(withindiscountperiod),thenputthediscountamountinto“salesdiscount”.ExampleofgrossmethodOurcompany’scredittermsarestatedas2/10,n/30.OnOct.5,2011,wesoldmerchandiseatapriceof$20,000.Thecustomerpaid70%ofitstotalpriceonOct.14andtheremainingbalanceof$6,000onNov.4.Netmethod净价法Howtousenetmethod:Atfirst,usethenetpricetorecordaccountsreceivable.Ifthecashdiscountisnotrealized(beyonddiscountperiod),thenrecordthediscountamountas“interestrevenue”.ExampleofnetmethodOurcompany’scredittermsarestatedas2/10,n/30.OnOct.5,2011,wesoldmerchandiseatapriceof$20,000.Thecustomerpaid70%ofitstotalpriceonOct.14andtheremainingbalanceof$6,000onNov.4.GrossMethodV.S.NetMethodThegrossmethodsupposesallthecashdiscountscannotbetaken.总价法假设所有的现金折扣都不能被享受。Butifcashdiscountistaken,thenputthediscountamountinto“salesdiscounts”.Thenetmethodsupposesallthecashdiscountscanbetaken.净价法假设所有的现金折扣都可以被享受。Butifcashdiscountisnottaken,thenputthediscountamountinto“interestrevenue”.GrossMethodV.S.NetMethodInAmerica,mostcompaniesusethegrossmethodbecauseit’seasierthanthenetmethod.ButinChina,onlythegrossmethodisallowedtouse.Comparingtradediscounts&cashdiscountsTradediscountsareoftenofferedtothosecustomerswhopurchasegoods/servicesinlargequantity.Cashdiscountsareofferedtothosecustomerswhopaythecashwithinthediscountperiod.Thepurposeoftradediscountsistoencouragelargepurchase.Thepurposeofcashdiscountsistoencouragequickpayment.Comparingtradediscounts&cashdiscountsTradediscountsareexpressedaspercentagereductionfromprice.(exp.20%oftradediscount)Cashdiscountsareexpressedastermsof2/10,n/30.Tradediscountsonlyhasonewaytorecord:usethenetpricetorecordtheaccountsreceivableandtherevenue.Cashdiscountshastwowaystorecord:grossmethod&netmethod.Exercise:P85E2-4UncollectibleaccountsreceivableUncollectibleaccountsreceivable(无法收回的应收账款)orbaddebts(坏账):receivablesthatsomecustomersareeitherunableorunwillingtopay.Thecostswhicharisefromuncollectibleaccountsarebaddebtexpense(坏账损失).BaddebtscausesBaddebtexpenseUncollectibleaccountsreceivableTwowaystorecordbaddebts:Directwrite-offmethod(直接转销法)Allowancemethod(备抵法)Twoquestionsweneedtofocuson:Whentousethismethod?Howtousethismethod?Directwrite-offmethod直接转销法Whentousedirectwrite-offmethod?Ifuncollectibleaccountsreceivableareimmaterial(amountofbaddebtsissmall)Orifwecannotreliablyestimate

不能合理估计

theamountofuncollectibleaccountsreceivableHowtousedirectwrite-offmethod?Whenaccountsreceivableactuallybecomebaddebts,justsimplyincreasebaddebtexpenseanddecreaseaccountsreceivable.100%suremoneycannotbereceivedDr:baddebtexpenseCr:accountsreceivableExampleofdirectwrite-offmethodIn2011,oneofourcustomerswentbankrupt(破产),hewasunabletopaythedebt$10,000(whichwereourcompany’saccountsreceivable).Suppose$10,000areimmaterialamountforourcompany.Usedirectwrite-offmethodDr.Baddebtexpense10,000Cr.Accountsreceivable10,000Allowancemethod备抵法Whentouseallowancemethod?Ifuncollectibleaccountsreceivablearematerialamount(amountofbaddebtsislarge)Andifwecanreliablyestimate

能合理估计

theamountof

uncollectibleaccountsreceivableHowtouseallowancemethod?Firstestimatetheamountofprobablebaddebts估计可能发生坏账的金额Putitinto“allowanceforuncollectibleaccounts”（坏账准备）Dr:baddebtexpenseCr:allowanceforUAAllowancemethodAllowanceforuncollectibleaccountsAlsocalled“allowancefordoubtfulaccounts”Acontraaccount(备抵账户)toaccountsreceivableAllowanceforuncollectibleaccountsDr.DecreaseBeginningBal.Cr.IncreaseEndingBal.AllowancemethodThreeeventsunderallowancemethod:(备抵法下的“三个”会计事件)Estimatetheamountofprobablebaddebts估计可能发生坏账的金额Whenaccountsaredeemeduncollectible坏账真实发生Whenpreviouslywritten-offaccountsarecollected之前的坏账重新收回EstimatetheamountofprobablebaddebtsThreewaystoestimatetheamountoffuturebaddebts:三种估计坏账的方法Incomestatementapproach利润表法Balancesheetapproach资产负债表法Acombinationoftwoapproaches两种方法的组合Incomestatementapproach利润表法Howtouseincomestatementapproach?Weestimatebaddebtexpenseasapercentageofeachperiod’snetcreditsales.(按每期净赊销销售收入的百分比估计“坏账费用”)Baddebtexpense=creditsales×P%ExampleofincomestatementapproachP55illustration2-3Baddebtexpense=creditsales×P%Inthiscase,Baddebtexpense=$1,200,000×2%=$24,000Dr.Baddebtexpense24,000Cr.Allowanceforuncollectibleaccounts24,000Accountsreceivable$305,000Less:Allowanceforuncollectibleaccounts(24,000)Netaccountsreceivable(NRVofAR)

$281,000Itwillbereportedinthebalancesheet.Balancesheetapproach资产负债表法Howtousebalancesheetapproach?

(twoways)Weestimateuncollectibleaccountsasapercentageofthereceivablebalance.(按总应收账款余额的百分比估计坏账)Allowanceforuncollectibleaccounts=thetotalAR×P%Or,applyingdifferentpercentagestoaccountsreceivablebalances.(对不同应收账款余额应用不同的百分比)Allowanceforuncollectibleaccounts=AR1×P1%+AR2×P2%+AR3×P3%+……+ARn

×Pn%AR1,AR2,AR3,…,ARn

aredifferentaccountsreceivablebalancesdependingonthelengthoftimeoutstanding.按应收账款的账龄长短划分不同的余额

(exp.P56)ExampleofbalancesheetapproachExp.P56illustration2-3AAccountsReceivableAgingSchedule应收账款账龄分析表Allowanceforuncollectibleaccounts=AR1×P1%+AR2×P2%+AR3×P3%+……+ARn

×Pn%Allowanceforuncollectibleaccounts=AR1×P1%+AR2×P2%+AR3×P3%+AR4×P4%=220,000×5%+50,000×10%+25,000×20%+10,000×45%=25,500Thelongertheaccountreceivablehasbeenoutstandingthemorelikelyitwillproveuncollectible.应收账款拖欠的时间越长，越有可能成为坏账。（坏账提取比率应该越大）ExampleofbalancesheetapproachExp.P56illustration2-3AAllowanceforuncollectibleaccounts=$25,500Dr.Baddebtexpense25,500

Cr.Allowanceforuncollectibleaccounts25,500Here,$25,500istheendingbal.for“allowanceforuncollectibleaccounts”AllowanceforuncollectibleaccountsDr.DecreaseBeginningBal.0Cr.25,500IncreaseEndingBal.25,500FirstyearofoperationsExampleofbalancesheetapproachlet’ssupposeitwasnotthefirstyearofoperations.Thebeginningcreditbal.fortheallowanceaccountwas$4,000.Dr.Baddebtexpense21,500

Cr.Allowanceforuncollectibleaccounts21,500AllowanceforuncollectibleaccountsDr.DecreaseBeginningBal.4,000Cr.21,500IncreaseEndingBal.25,500Exampleofbalancesheetapproachlet’ssupposeitwasnotthefirstyearofoperations.Thebeginningdebitbal.fortheallowanceaccountwas$4,000.Dr.Baddebtexpense29,500

Cr.Allowanceforuncollectibleaccounts29,500AllowanceforuncollectibleaccountsBeginningBal.4,000Dr.DecreaseCr.29,500IncreaseEndingBal.25,500AcombinationoftwoapproachesSomecompaniesuseacombinationoftwoapproaches.有些公司使用两种方法的组合。Theyusetheincomestatementapproach

attheendofeverymonth.Buttheyusethebalancesheetapproach

attheendoftheyear.AcombinationoftwoapproachesExp.Suppose2011isthefirstyearofoperation.During2011,salesoncreditare$1,200,000.Thecompanyanticipatesthat2%ofallcreditsaleswillfinallybecomeuncollectible.Usingincomestatementapproachattheendofeverymonth:Baddebtexpense=S1×2%+S2×2%+...+S12×2%=(S1+S2+…+S12)×2%=SYear×2%Baddebtexpense=$1,200,000×2%=24,000Dr.Baddebtexpense24,000Cr.Allowanceforuncollectibleaccounts24,000AcombinationoftwoapproachesUsebalancesheetapproachattheendoftheyear:Allowanceforuncollectibleaccounts=AR1×P1%+AR2×P2%+AR3×P3%+……+ARn

×Pn%Allowanceforuncollectibleaccounts=220,000×5%+50,000×10%+25,000×20%+10,000×45%=25,500AgeGroupAmountP%0-60days220,0005%61-90days50,00010%91-120days25,00020%Over120days10,00045%AcombinationoftwoapproachesAllowanceforuncollectibleaccounts=220,000×5%+50,000×10%+25,000×20%+10,000×45%=25,500(endingbal.)Supposethisyearisthecompany’sfirstyear,sobeginningbal.=0.AllowanceforuncollectibleaccountsDr.DecreaseBeginningBal.0Cr.24,0001,500EndingBal.25,500UsingincomestatementapproachUsingbalancesheetapproachAcombinationoftwoapproachesDr.baddebtexpense1,500Cr.Allowanceforuncollectibleaccounts1,500Accountsreceivable$305,000Less:AllowanceforuncollectibleaccountsIS(24,000)AllowanceforuncollectibleaccountsBS(1,500)Netaccountsreceivable$279,500Whenaccountsaredeemeduncollectible坏账真实发生Ifwearesurethatpartofaccountsreceivablewillnotbecollected,thenrecorditasadebittoallowanceforuncollectibleaccountsandacredittoaccountsreceivable.100%suremoneycannotbereceived(actuallybecomebaddebts)Dr:AllowanceforUACr:AccountsreceivableExp.Assumethatactualbaddebtsin2012are$25,000,(weare100%surethatin2012,$25,000willnotbereceived)Dr.Allowanceforuncollectibleaccounts25,000Cr.Accountsreceivable25,000Whenpreviouslywritten-offaccountsarecollected

之前的坏账重新收回Sometimes,accountsreceivablethathavebecomebaddebtswillbecollectedinpartorinfull.Whenthishappens,thereceivableandtheallowanceshouldbereinstated.当坏账重新收回时，应收账款和坏账准备应该予以恢复。Exp.Assumethatthepreviousbaddebtsof$1,200iscollectedthisyear.Dr.Accountsreceivable1,200Cr.Allowanceforuncollectibleaccount1,200Dr.cash1,200Cr.Accountsreceivable1,200ExerciseP86E2-9P86E2-8P86E2-11FinancingwithreceivablesInthispart,wearegoingtolearn:

Securedborrowing担保借款Saleofreceivables应收款的出售SecuredborrowingSecuredborrowing:

thetransferor(borrower)borrowedmoneyfromtransferee(lender),withthereceivablesservingascollateralfortheloan.担保借款：转让人以应收款为抵押

(collateral)向出让人贷款。Thereceivablesbelongtothetransferorortransferee?Thereceivablesstillbelongtothetransferor.ExampleP65illustration2-5

Transferor(borrower):SantaTeresaGlassTransferee(lender):FinanceBankDr.cash490,700Financechargeexpense财务费用

9,300Cr.Liability-financingarrangement500,000

负债-融资合同Loan:$500,000Financefee融资费用:$620,000×1.5%=9,300Balance余额:500,000-9,300=490,700Notespayable/short-termborrowing500,000SigninganoteWithoutsigninganoteExampleP65illustration2-5

Santacollected$400,000ofthereceivablesinDec.:Dr.cash400,000Cr.Accountsreceivable400,000Santashouldusethe$400,000torepaytheloanborrowingfromFinanceBank.Dr.notespayable400,000Cr.Cash400,000DuringDecember,one-monthofinterest=$500,000×12%×1/12=$5,000Dr.Interestexpense

5,000Cr.cash5,000ExerciseP872-15

Transferor(borrower):HighFiveSurfboardTransferee(lender):EquitableFinanceCorporationDr.cash439,200Financechargeexpense

10,800Cr.Notespayable450,000Loan:$450,000Financefee:$600,000×1.8%=10,800Balance:450,000-10,800=439,200Saleofreceivables应收款的出售Thetransferor(seller)sellsthereceivablestotransferee(buyer).SaleofreceivablesSalewithoutrecourseSalewithrecourseThereceivablesbelongtotransfereeCannotasktopaySalewithoutrecourse无追索权的销售Ifthesaleismadewithoutrecourse,thebuyercan’taskthesellerformoremoneyifcustomersdon’tpaythereceivables.ACustomerBARCreditor债权人debtor债务人CSellsARCreditor债权人DidnotpaySalewithoutrecoursetransferortransfereesellerbuyerSalewithoutrecourse

Whotakestheriskifcustomersdon’tpaythereceivables?AorC?Thetransferee(buyer)takestheriskofuncollectibilitywhenaccountsreceivablearesoldwithoutrecourse.当采用无追索权的方式销售应收账款时，买方应承担发生坏账的风险。SalewithoutrecourseIfitisthesalewithoutresource,theseller(transferor)willdothreethings:Removes

accounts(ornotes)receivable,andanyallowanceforbaddebtsassociatedwiththem把应收账款（或应收票据）从账户中剔除，以及剔除与之相关的坏账准备Recognizesat

fairvalue

anyassetsacquiredorliabilitiesassumedbysellerinthetransaction把从交易中获得资产或承担的负债以公允价值确认Recordsthedifferenceasa

gain

or

loss

将差额确认为利得或者损失AR=$600,000ExampleIllustration2-6Seller(transferor):SantaTeresaGlassBuyer(transferee):FactorBankAR=$600,000SalewithoutrecourseSFCash+beneficialinterest$540,000Fairvalue-4%fee$50,000-$24,000=$26,000sellerbuyerWillbepaidnow(cash)Willbepaidinthefuture(receivable)ExampleRemoves

accounts(ornotes)receivable,andanyallowanceforbaddebtsassociatedwiththemRecognizesat

fairvalue

anyassetsacquiredorliabilitiesassumedbysellerinthetransactionRecordsthedifferenceasa

gain

or

lossSFAR=$600,000Cash+beneficialinterest$540,000Fairvalue-4%fee$50,000-$24,000=$26,000sellerbuyerWillbepaidnow(cash)Willbepaidinthefuture(receivable)ExampleDr.Cash540,000Receivablefromfactor26,000

(otherreceivable)Lossonsaleofreceivables34,000Cr.Accountsreceivable600,000ExerciseP87E2-16CanasktopaySalewithrecourse有追索权的销售Ifthesaleismadewithrecourse,thebuyercanaskthesellerformoremoneyifcustomersdon’tpaythereceivables.ACustomerBARCreditor债权人debtor债务人CSellsARCreditor债权人DidnotpaySalewithrecoursetransferortransfereesellerbuyerSalewithrecourse

Whotakestheriskifcustomersdon’tpaythereceivables?AorC?Thetransferor(seller)retainstheriskofuncollectibilitywhenaccountsreceivablearesoldwithrecourse.当采用有追索权的方式销售应收账款时，坏账的风险仍归卖方所有。SalewithrecourseIfitisthesalewithresource,theseller(transferor)willdofourthings:(thesameas“salewithoutrecourse”)(thesameas“salewithoutrecourse”)(thesameas“salewithoutrecourse”)Thesellershouldrecordtheestimatedfairvalueofitsrecourseobligationasaliability.卖方需要估计追索义务的公允价值并将其确认为一项负债。

ExampleIllustration2-7SalewithrecourseEstimatedfairvalueofrecourseobligationis$5,000.SFAR=$600,000Cash($540,000)sellerbuyerReceivable($50,000-$24,000=$26,000)Recourseliability($5,000)AssetsLiabilityExampleDr.Cash540,000Receivablefromfactor26,000Lossonsaleofreceivables39,000Cr.Accountsreceivable600,000

recourseliability追索负债5,000

ExampleIllustration2-7Ifthebuyer(FactorBank)collectsallofthereceivables,Dr.recourseliability5,000Cr.Lossonsaleofreceivables5,000ExerciseP87E2-17QuestionsWhatarethedifferencesbetween:“securedborrowing”and“saleofreceivables”?Securedborrowing:transferor(borrower),transferee(lender)Sale:transferor(seller),transferee(buyer)Securedborrowing:receivablebelongstotransferorSale:receivablebelongstotransfereeQuestionsWhatarethedifferencesbetween:“salewithoutrecourse”and“salewithrecourse”?Withoutrecourse:thetransferee(buyer)takesriskifcustomersdon’tpaythereceivables.Withrecourse:thetransferor(seller)takesriskifcustomersdon’tpaythereceivables.Withoutrecourse:threestepsinaccountingWithrecourse:fourstepsinaccountingNotesReceivableNotesreceivableareformalcreditarrangementsbetweenacreditor(lender)andadebtor(borrower).应收票据是债权人（出借人）和债务人（借款人）之间订立的正式的信贷协议。NotesReceivableShort-termNotesReceivable:termofanoteisnolongerthanoneyear.(t≤1)Long-termNotesReceivable:termofanoteislongerthanoneyear.(t>1)Interest-BearingNotesInterest-bearingnotes带息票据

Onmaturitydate,weshouldpay=faceamount

面值

(principal

本金)+interestInterest=faceamount×annualrate×(timeperiodofthenote/12)ExampleP60illustration2-4

Twocompanies:Stridewell&Harmon.Q1:Whichoneiscreditor(lender)?Whichoneisdebtor(borrower)?Stridewelliscreditor.Harmonisdebtor.Q2:Isittheshort-termnoteorlong-termnote?Short-termnote(6-month)Q3:Howmuchistheinterest?Interest=$700,000×12%×6/12=$42,000ExampleP60illustration2-4

WhenStridewellreceivedthenoteonMay1,2011:Dr.Notereceivable700,000Cr.Salesrevenue700,000WhenStridewellreceivedcashonNov.1,2011:Cash=$700,000+$42,000=$742,000Dr.cash742,000Cr.Interestrevenue42,000Notereceivable700,000ExampleP60illustration2-4

WhenHarmonsignedthenoteonMay1,2011:Dr.Inventory700,000Cr.Notepayable700,000WhenHarmonpaidcashonNov.1,2011:Cash=$700,000+$42,000=$742,000Dr.Notepayable700,000Interestexpense42,000Cr.Cash742,000ExampleP60illustration2-4

IfStridewellreceivedthenoteonAugust1,2011:Dr.Notereceivable700,000Cr.Salesrevenue700,000OnDec.31,2011,Stridewellrecordedtheaccrualinterest:Howmuchistheinterestattheendof2011:$700,000×6%×(5/12)=$35,000Dr.Interestreceivable35,000Cr.Interestrevenue35,000ExampleP60illustration2-4

WhenStridewellreceivedcashonFeb.1,2012:Dr.cash742,000Cr.Notereceivable700,000Interestreceivable35,000Interestrevenue7,000ExerciseP86E2-12TransfersofnotesreceivableThetransferofanotereceivabletoafinancialinstitutioniscalleddiscounting.将应收票据转让给金融机构的行为称为票据的贴现。Thefinancialinstitutionwillchargethesellerafinancingfee(融资费用)fromthistransaction.TransfersofnotesreceivableFivestepsshouldbefollowed:

Recordthenotereceivableonthedaywhenwereceivedthenote.在收到票据当天确认“应收票据”。Dr.notereceivableCr.SalesrevenueOnthediscountdate,accrueinterestearnedonthenotereceivablepriortoitsbeingdiscounted.在贴现日，计提应收票据贴现前应收的利息。

DerestreceivableCr.In