固定資產(chǎn)、自然資源、無形資產(chǎn)(共82頁).ppt

1、固定資產(chǎn)、自然資源、無形資產(chǎn)固定資產(chǎn)、自然資源、無形資產(chǎn) Plant assets are tangible resources that are used in the operations of a business and are not intended for sale to customers. Plant assets are subdivided into four classes: 1 Land 土地土地2 Land improvements 土地附著物土地附著物3 Buildings 建筑物建筑物4 Equipment 設(shè)備設(shè)備PLANT ASSETS 固定資產(chǎn)固定資產(chǎn) P

2、lant assets are recorded at cost in accordance with the cost principle. Cost consists of all expenditures necessary to acquire the asset and make it ready for its intended use. These costs include purchase price, freight costs, and installation costs. Expenditures that are not necessary should be re

3、corded as expenses, losses, or other assets.DETERMINING THE COST OF PLANT ASSETSInvoice Cost is measured by the cash paid in a cash transaction or by the cash equivalent price when non-cash assets are used in payment. The cash equivalent price is equal to the fair market value市場公允價值市場公允價值 of the ass

4、et given up or the fair market value of the asset received, whichever is more clearly determinable. MEASUREMENT OF PLANT ASSET COST固定資產(chǎn)成本的計量固定資產(chǎn)成本的計量 The cost of Land includes:1 ）cash purchase price2 ）closing costs such as title and attorneys fees3 ）real estate brokers commissions 4 ）accrued propert

5、y taxes and other on the land assumed by the purchaser. All necessary costs incurred in making land ready for its intended use are debited to the Land account.LANDSometimes purchased land has a building on it that must be removed to make the site suitable for construction of a new building. In this

6、case, all demolition and removal costs less any proceeds from salvaged materials are chargeable to the Land accountLandCash pr i ce of pr oper t y$ 100, 000Net r emoval cost of war ehouse6, 000At t or ney s f ee1, 000Real est at e br oker s commi ssi on8, 000Cost of l and$ 115, 000The cost of land i

7、mprovements includes all expenditures necessary to make the improvements ready for their intended use such as:1 parking lots, paving2 fencing, and3 lighting.LAND IMPROVEMENTS The cost of buildings includes all necessary expenditures relating to the purchase or construction of a building. When a buil

8、ding is purchased, such costs include the purchase price, closing costs, and real estate brokers commission.BUILDINGS Costs to make the building ready for its intended use consist of expenditures for remodeling and replacing or repairing the roof, floors, wiring, and plumbing. When a new building is

9、 constructed, cost consists of the contract price plus payments for architects fees, building permits, interest payments during construction, and excavation costs.BUILDINGS The cost of equipment consists of the cash purchase price, sales taxes, freight charges, and insurance paid by the purchaser du

10、ring transit. Cost includes all expenditures required in assembling, installing, and testing the unit. Recurring costs such as licenses and insurance are expensed as incurred.EQUIPMENTThe cost of equipment consists of the cash purchase price, sales taxes, freight charges, and insurance during transi

11、t paid by the purchaser. It also includes expenditures required in assembling, installing, and testing the unit. However, motor vehicle licenses and accident insurance on company cars and trucks are expensed as incurred, since they represent annual recurring expenditures that do not benefit future p

12、eriodsD e liv e ry T ru c kC a s h p ric e$ 2 2 ,0 0 0S a le s ta x e s1 ,3 2 0P a in tin g a n d le tte rin g5 0 0C o s t o f d e liv e ry tru c k $ 2 3 ,8 2 0F a c to ry M a c h in e ryC a s h p ric e$ 5 0 ,0 0 0S a le s ta x e s3 ,0 0 0In s u ra n c e d u rin g s h ip p in g5 0 0In s ta lla tio n

13、 a n d te s tin g1 ,0 0 0C o s t o f fa c to ry m a c h in e ry$ 5 4 ,5 0 0 Depreciation is the process of allocating to expense the cost of a plant asset over its useful (service) life in a rational and systematic manner. Cost allocation is designed to provide for the proper matching of expenses wi

14、th revenues in accordance with the matching principle.DEPRECIATION 折舊折舊 During an assets life, its usefulness may decline because of wear and tear or obsolescence. Recognition of depreciation does not result in the accumulation of cash for the replacement of the asset. Land is the only plant asset t

15、hat is not depreciated.DEPRECIATION 折舊折舊 factors that affect the computation of depreciation are:1 Cost: all expenditures necessary to acquire the asset and make it ready for intended use.2 Useful life使用壽命使用壽命: estimate of the expected life based on need for repair, service life, and vulnerability t

16、o obsolescence.3 Salvage value 殘值殘值: estimate of the assets value at the end of its useful life.FACTORS IN COMPUTING DEPRECIATIONmethods of recognizing depreciation 1 Straight-line直線法直線法 2 Units of activity產(chǎn)量法產(chǎn)量法 3 Declining-balance余額遞減法余額遞減法. Each method is acceptable under generally accepted accou

17、nting principles. Management selects the method that is appropriate in the circumstances. Once a method is chosen, it should be applied consistentlyUSE OF DEPRECIATION METHODS IN MAJOR U.S. COMPANIES82% Straight-line4% Declining balance5% Units-of-activity9% Other Under the straight-line method, dep

18、reciation is the same for each year of the assets useful life. It is measured by the passage of time. In order to compute depreciation expense, it is necessary to determine depreciable cost. Depreciable cost is the total amount subject to depreciation and is computed as follows: Depreciable cost = C

19、ost of asset - salvage valueSTRAIGHT-LINE 直線法直線法$13,000 - $1,000 = $12,000$12,000 5 = $2,400 Cost Salvage ValueDepreciableCostDepreciableCostUsefulLifeDepreciationExpenseBook Value = cost accumulated depreciation =13000 2400 =10600 Under the units-of-activity method, service life is expressed in ter

20、ms of the total units of production or expected use from the asset, rather than time. The formulas for computing depreciation expense are:1 Depreciable Cost Total Units of Activity = Depreciation Cost per Unit2 Depreciation Cost per Unit X Units of Activity During the Year = Depreciation ExpenseUNIT

21、S-OF-ACTIVITY 工作量法工作量法 In using this method, it is often difficult to make a reasonable estimate of total activity. When the productivity of an asset varies significantly from one period to another, this method results in the best matching of expenses with revenues.UNITS-OF-ACTIVITY 工作量法工作量法$12,000

22、100,000 miles = $0.12 $0.12 15000 = $1,800DepreciableCostTotal units of activity DepreciableCost per unitDepreciableCost per unitUnits of yearDepreciationExpenseBook Value = cost accumulated depreciation =12000 1800 =10200DECLINING-BALANCE 余額遞減法余額遞減法 The declining-balance method produces a decreasin

23、g annual depreciation expense over the useful life of the asset. The calculation of periodic depreciation is based on a declining book value (cost less accumulated depreciation) of the asset.DECLINING-BALANCE 余額遞減法余額遞減法Annual depreciation expense is calculated by multiplying the book value at the be

24、ginning of the year by the declining-balance depreciation rate. The depreciation rate remains constant from year to year, but the book value to which the rate is applied declines each year. The book value for the first year is the cost of the asset since accumulated depreciation has a zero balance a

25、t the beginning of the assets useful life. In subsequent years, book value is the difference between cost and accumulated depreciation at the beginning of the year.DECLINING-BALANCE 余額遞減法余額遞減法 The formula for computing depreciation expense is:Book Value at Beginning of Year X Declining Balance Rate

26、= Annual Depreciation Expense This method is compatible with the matching principle because the higher depreciation in early years is matched with the higher benefits received in these years.DECLINING-BALANCE 余額遞減法余額遞減法double-declining-balance method雙倍雙倍余額遞減法余額遞減法 Unlike the other depreciation metho

27、ds, salvage value is ignored in determining the amount to which the declining balance rate is applied. A common application of the declining-balance method is the double-declining-balance method雙倍余額遞減法雙倍余額遞減法, in which the declining-balance rate is double the straight-line rate. If Barbs Florists us

28、es the double-declining-balance method, the depreciation is 40% (2 X the straight-line rate of 20%).$13,000 x 40% = $5,200Book Valueat Beginningof 1st yearDecliningBalanceRateDepreciation ExpenseBook Value = 13000 5200 =7800 $7800 x 40% = $3120Book Valueat Beginningof 2nd yearDecliningBalanceRateDep

29、reciation ExpenseBook Value = 7800 3120 =4680$4680 x 40% = $1872Book Valueat Beginningof 3rd yearDecliningBalanceRateDepreciation ExpenseBook Value = 4680 1872 =2808 If wear and tear or obsolescence indicate that annual depreciation is inadequate or excessive, a change in the periodic amount should

30、be made. When a change is made,1 there is no correction of previously recorded depreciation expense and2 depreciation expense for current and future years is revised. To determine the new annual depreciation expense, the depreciable cost at the time of the revision is divided by the remaining useful

31、 life.REVISING PERIODIC DEPRECIATION 折折舊的修正舊的修正Barbs Florists decides on January 1, 2005 to extend the useful life of the truck one year because of its excellent condition. The company has used the straight-line method to depreciate the asset to date, and book value is $5,800 ($13,000 - $7,200). The

32、 new annual depreciation is $1,600, calculated as follows Ordinary repairs are expenditures to maintain the operating efficiency and expected productive life of the plant asset. They are debited to Repairs Expense as incurred and are often referred to as revenue expenditures 收入性支出收入性支出.EXPENDITURES

33、DURING USEFUL LIFEAdditions and improvements are costs incurred to increase the operating efficiency, productive capacity, or expected useful life of the plant asset.1 These expenditures are usually material in amount and occur infrequently during the period of ownership.2 Since additions and improv

34、ements increase the companys investment in productive facilities, they are debits to the plant asset affected, and are referred to as capital expenditures 資本性支出資本性支出.EXPENDITURES DURING USEFUL LIFE Eliminate the book value of the plant asset at the date of sale by debiting Accumulated Depreciation a

35、nd crediting the asset account for its cost. Debit Cash to record the cash proceeds from the sale. Compute gain or loss.PLANT ASSET DISPOSALS If the cash proceeds are greater than the book value, recognize a gain by crediting Gain on Disposal for the difference. If the cash proceeds are less than th

36、e book value, recognize a loss by debiting Loss on Disposal for the difference.PLANT ASSET DISPOSALS GAIN ON DISPOSALOn July 1, 2002, Wright Company sells office furniture for $16,000 cash. The office furniture originally cost $60,000 and as of January 1, 2002, had accumulated depreciation of $41,00

37、0. Depreciation for the first six months of 2002 is $8,000.The entry to record depreciation expense and update accumulated depreciation to July 1 is as follows:Accumulated Depreciation = 41000 + 8000 = 49000 GAIN ON DISPOSALAfter the accumulated depreciation is updated, a gain on disposal of $5,000

38、is calculated:Cost of office furniture $ 60,000Less: Accumulated depreciation $ 49,000Book value at date of disposal $11,000Proceeds from sale $ 16,000Gain on disposal $ 5,000 LOSS ON DISPOSAL Instead of the selling the office furniture for $16,000, Wright sells it for $9,000. In this case, a loss o

39、f $2,000 is calculated:Cost of office furniture $ 60,000Less: Accumulated depreciation $ 49,000Book value at date of disposal $11,000Proceeds from sale $ 9,000Loss on disposal $ 2,000Exchanges of plant assets can be for similar or dissimilar assets.In an exchange of similar assets, the new asset is

40、the same type as and performs the same function as the old asset.In exchanges of similar assets, it is necessary to determine1 the cost of the asset acquired and2 the gain or loss on the asset given up. EXCHANGES OF PLANT ASSETS Losses on the exchange of similar assets are recognized immediately. Th

41、e cost of the new asset received is equal to the fair market value of the old asset exchanged plus any cash or other consideration given up. A loss results when the book value is greater than the fair market value of the asset given up.LOSS TREATMENTCOMPUTATION OF COST OF NEW OFFICE EQUIPMENTRoland

42、Company exchanges old office equipment for new similar office equipment. The book value of the old office equipment is $26,000 ($70,000 cost less $44,000 accumulated depreciation), its fair market value is $10,000, and $81,000 of cash is paid. The cost of the new office equipment, $91,000, is calcul

43、ated as follows: COMPUTATION OF LOSS ON DISPOSALThrough this exchange, a loss on disposal of $16,000 is incurred. A loss results when the book value is greater than the fair market value of the asset given up. The calculation is as follows:In recording the exchange at a loss it is necessary to 1 eli

44、minate the book value of the asset given up, 2 record the cost of the asset acquired, and 3 recognize the loss on disposal.Gains on exchange of similar assets are not recognized immediately. Instead, they are deferred and reduce the cost basis of the new asset.The cost of the new asset received is e

45、qual to the fair market value of the old asset exchanged plus any cash or other consideration given up.A gain results when the fair market value is greater than the book value of the asset given up.GAIN TREATMENTCOST OF NEW EQUIPMENT (BEFORE DEFERRAL OF GAIN)Marks Express Delivery exchanges old deli

46、very equipment plus $3,000 cash for new delivery equipment. The book value of the old delivery equipment is $12,000 ($40,000 cost less $28,000 accumulated depreciation), its fair market value is $19,000. The cost of the new delivery equipment, $22,000, is calculated as follows:F a ir m a r k e t v a

47、 lu e o f o ld d e liv e r y e q u ip m e n t$ 1 9 ,0 0 0C a s h3 ,0 0 0C o s t o f n e w d e liv e r y e q u ip m e n t (b e fo r e d e fe r r a l o f g a in ) $ 2 2 ,0 0 0For Marks Express Delivery, there is a gain of $7,000, calculated as follows, on the disposal:Fai r mar ket val ue of ol d del

48、i ver y equi pment$ 19, 000Book val ue of ol d del i ver y equi pment ( $40, 000 $28, 000)12, 000Gai n on di sposal$ 7, 000COST OF NEW DELIVERY EQUIPMENT (AFTER DEFERRAL OF GAIN)The $7,000 gain on disposal is then offset against the $22,000 cost of the new delivery equipment. The result is a $15,000

49、 cost of the new delivery equipment, after deferral of the gain.C o s t o f n e w d e liv e r y e q u ip m e n t (b e fo r e d e fe r r a l o f g a in ) $ 2 2 ,0 0 0L e s s : G a in o n d is p o s a l7 ,0 0 0C o s t o f n e w d e liv e r y e q u ip m e n t (a fte r d e fe r r a l o f g a in ) $ 1 5

50、,0 0 0The entry to record the exchange is as follows: Natural resources :consist of oil, gas, and minerals. Natural resources have two distinguishing characteristics:1 They are physically extracted in operations.2 They are replaceable only by an act of nature.NATURAL RESOURCESThe acquisition cost of

51、 a natural resource is the cash or cash equivalent price necessary to acquire the resource and prepare it for its intended use.If the resource is already discovered, cost is the price paid for the property.AQUISITION COSTDEPLETION 折耗折耗The process of allocating the cost of natural resources to expens

52、e in a rational and systematic manner over the resources useful life is called depletion. The units-of-activity method is generally used to compute depletion, because periodic depletion generally is a function of the units extracted during the year.FORMULA TO COMPUTE DEPLETION EXPENSETotal Estimated

53、 UnitsDepletionCost per UnitTotal Cost minus Salvage ValueDepletionCost per UnitNumber ofUnits Extracted and SoldDepletionExpenseRECORDING DEPLETIONThe Lane Coal Company invests $5 million in a mine estimated to have 10 million tons of coal and no salvage value. In the first year, 800,000 tons of co

54、al are extracted and sold. Using the formulas, the calculations are as follows:$5,000,000 10,000,000 = $.50 depletion cost per ton$.50 X 800,000 = $400,000 depletion expenseThe entry to record depletion expense for the first year of operations is as follows: Intangible assets are rights, privileges,

55、 and competitive advantages that result from the ownership of long lived assets that do not possess physical substance. Intangibles may arise from government grants, acquisition of another business, and private monopolistic arrangements.INTANGIBLE ASSETS 無形資產(chǎn)無形資產(chǎn) In general, accounting for intangibl

56、e assets parallels the accounting for plant assets. Intangible assets are:1 recorded at cost;2 written off over useful life in a rational and systematic manner; and3 at disposal, book value is eliminated and gain or loss, if any, is recorded.ACCOUNTING FOR INTANGIBLE ASSETSDifferences between the ac

57、counting for intangible assets and the accounting for plant assets include:The systematic write-off of an intangible asset is referred to as amortization攤銷攤銷.To record amortization, Amortization Expense is debited and the specific intangible asset is credited.The amortization period cannot be longer

58、 than 40 years.Amortization is typically computed on a straight-line basis. A patent is an exclusive right issued by the United States Patent Office that enables the recipient to manufacture, sell, or otherwise control his or her invention for a period of 20 years from the date of grant. The initial

59、 cost of a patent is the cash or cash equivalent price paid when the patent is acquired.PATENTS 專利專利 Legal costs incurred in successfully defending the patent are added to the Patent account and amortized over the remaining useful life of the patent. The cost of the patent should be amortized over i

60、ts 20-year legal life or its useful life, whichever is shorter.PATENTS 專利專利RECORDING PATENTSNational Labs purchases a patent at a cost of $60,000. If the useful life of the patent is 8 years.the annual amortization expense is $7,500 ($60,000 8). Amortization Expense-Patent is classified as an operat