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Chapter12IncomeandChangesinRetainedEarningsChapter12IncomeandChangesiReportingtheResultsofOperationsReportingtheResultsofOpera操作結(jié)果報告課件Thistaxexpensedoesnotincludeeffectsofunusual,nonrecurringitems.ThistaxexpensedoesnotinclTheseunusual,nonrecurringitemsareeachreportednetoftaxes.Theseunusual,nonrecurringitDiscontinuedOperationsIncome/Lossfromoperatingthesegmentpriortodisposal.DiscontinuedOperationsIncome/Lossondisposalofthesegment.Whenmanagemententersintoaformalplantosellordiscontinueasegmentofthebusiness.DiscontinuedOperationsIncome/DiscontinuedOperationsWhenmanagemententersintoaformalplantosellordiscontinueasegmentofthebusiness.Asegmentmustbeaseparatelineofbusinessactivityoranoperationthatservicesadistinctcategoryofcustomers.DiscontinuedOperationsWhenmaDuring2000,ApexCo.soldanunprofitablesegmentofthecompany.Thesegmenthadanetlossfromoperationsduringtheperiodof$150,000anditsassetssoldatalossof$100,000.Apexreportedincomefromcontinuingoperationsof$350,000.Allitemsaretaxedat30%.Howwillthisappearontheincomestatement?DiscontinuedOperations

ExampleDuring2000,ApexCo.soldanDiscontinuedOperationsExampleDiscontinuedOperationsExamplIncomeStatementPresentation:DiscontinuedOperationsExampleIncomeStatementPresentation:Materialinamount.Gainsorlossesthatarebothunusualinnatureandnotexpectedtorecurintheforeseeablefuture.Reportednetofrelatedtaxes.ExtraordinaryItemsMaterialinamount.ExtraordinaDuring2000,ApexCo.experiencedalossof$75,000duetoanearthquakeatoneofitsmanufacturingplantsinNashville.Thiswasconsideredanextraordinaryitem.Thecompanyreportedincomebeforeextraordinaryitemof$175,000.Allgainsandlossesaresubjecttoa30%taxrate.Howwouldthisitemappearonthe2000incomestatement?ExtraordinaryItems

ExampleDuring2000,ApexCo.experienExtraordinaryItems

ExampleExtraordinaryItems

ExampleIncomeStatementPresentation:ExtraordinaryItems

ExampleIncomeStatementPresentation:AccountingChangesAccountingChangesChangeinAccountingPrincipleOccurswhenchangingfromoneGAAPmethodtoanotherGAAPmethod.Makeacatch-upadjustmentknownasthecumulativeeffectofachangeinaccountingprinciple.Thecumulativeeffectisreportednetoftaxesandafterextraordinaryitems.ChangeinAccountingPrincipleChangeinAccountingPrincipleExampleAlsoin2000,ApexCo.decidedtochangefromthedouble-decliningbalancetothestraight-linemethodfordepreciation.Theeffectofthischangeisanincreaseinnetincomeof$65,000.Apexreportedincomebeforecumulativeeffectofanaccountingchangeof$122,500duringtheyear.Allitemsofincomearesubjecttoa30%taxrate.Howwouldthisitemappearontheincomestatement?ChangeinAccountingPrincipleChangeinAccountingPrincipleExampleComputation:ChangeinAccountingPrincipleComputation:IncomeStatementPresentation:ChangeinAccountingPrincipleExampleComputation:IncomeStatementPChangeinEstimatesRevisionofapreviousaccountingestimate.Thenewestimateshouldbeusedinthecurrentandfutureperiods.Theprioraccountingresultsshouldnotbedisturbed.ChangeinEstimatesRevisionofChangeinEstimates

ExampleOnJanuary1,1997,wepurchasedequipmentcosting$30,000,withausefullifeof10yearsandnosalvagevalue.During2000,wedeterminethattheremainingusefulis5years(8-yeartotallife).Weusestraight-linedepreciation.Computethereviseddepreciationexpensefor2000.ChangeinEstimates

ExampleOnRecorddepreciationexpenseof$4,200for2000andsubsequentyears.ChangeinEstimates

ExampleRecorddepreciationexpenseofLet’smoveontoafewfinaltopics.Let’smoveontoafewfinaltPrice-earningsRatio(P/E)Often,thePrice-EarningsRatioisusedtoevaluatethereasonablenessofacompany抯stockprice.Let’sexaminethisfurther.Price-earningsRatio(P/E)OfteEarningsPerShare(EPS)Ameasureofthecompany抯profitabilityandearningpowerfortheperiod.Basedonthenumberofsharesissuedandthelengthoftimethatnumberremainedunchanged.EarningsPerShare(EPS)AmeasEarningsPerShare(EPS)-

PartialIncomeStatementUsetheinformationfromApexCo.thatwasgeneratedearlier.AssumethatApexhasweightedaveragesharesoutstandingof156,250.PrepareapartialincomestatementshowingtheEPSforIncomefromOperationsandfortheotherspecialitems.EarningsPerShare(EPS)-

ParEarningsPerShare(EPS)-

PartialIncomeStatement*Roundingerror.EarningsPerShare(EPS)-

ParEarningsPerShare(EPS)Ifpreferredstockispresent,subtractpreferreddividendsfromnetincomepriortocomputingEPS.EPSisrequiredtobereportedintheincomestatement.EarningsPerShare(EPS)IfpreAccountingforCashDividendsDeclaredbyboardofdirectors.Notlegallyrequired.Createsliabilityatdeclaration.RequiressufficientRetainedEarningsandCash.AccountingforCashDividendsDDividendDatesDateofDeclarationBoardofdirectorsdeclaresthedividend.Recordaliability.DividendDatesDateofDeclaratDividendDatesEx-DividendDateThedaywhichservesastheownershipcut-offpointforthereceiptofthemostrecentlydeclareddividend.DividendDatesEx-DividendDateDividendDatesXDateofRecordStockholdersholdingsharesonthisdatewillreceivethedividend.

(Noentry)DividendDatesXDateofRecordDateofPaymentRecordthepaymentofthedividendtostockholders.DividendDatesDateofPaymentDividendDatesDividendDates

QuestionOnJune1,1999acorporation’sboardofdirectorsdeclaredadividendforthe2,500sharesofits$100parvalue,8%preferredstock.ThedividendwillbepaidonJuly15.WhichofthefollowingwillbeincludedintheJuly15entry?

a.DebitRetainedEarnings$20,000.b.DebitDividendsPayable$20,000.c.CreditDividendsPayable$20,000.d.CreditPreferredStock$20,000.DividendDates

QuestionOnJuneOnJune1,1999acorporation抯boardofdirectorsdeclaredadividendforthe2,500sharesofits$100parvalue,8%preferredstock.ThedividendwillbepaidonJuly15.WhichofthefollowingwillbeincludedintheJuly15entry?

a.DebitRetainedEarnings$20,000.b.DebitDividendsPayable$20,000.c.CreditDividendsPayable$20,000.d.CreditPreferredStock$20,000.DividendDates

Question$100?8%=$8dividendpershare$8?2,500=$20,000totaldividendOnJune1,1999acorporation抯AccountingforStockDividendsNochangeintotalstockholders?equity.Allstockholdersretainsamepercentageownership.Nochangeinparvalues.Distributionofadditionalsharesofstocktostockholders.AccountingforStockDividendsSummaryofEffectsofStockDividendsandStockSplitsSummaryofEffectsofStockDiPriorPeriodAdjustmentsAdjustretainedearningsretroactively.Theadjustmentshouldbedisclosednetofanytaxes.Thecorrectionofanerroridentifiedasaffectingnetincomeinapriorperiod.PriorPeriodAdjustmentsAdjustComprehensiveIncomeComprehensiveIncomeComprehensiveIncomeGAAPexcludessomeunrealizeditemsfromincome,suchasthechangeinmarketvalueofavailable-for-saledebtandequityinvestments.ComprehensiveIncomeGAAPexcluComprehensiveIncomeComprehensiveIncomeHanginthere!Wearecomingdownthehomestretch!Yeah,thatiseasyforyoutosay!Hanginthere!Wearecoming演講完畢，謝謝觀看！演講完畢，謝謝觀看！Chapter12IncomeandChangesinRetainedEarningsChapter12IncomeandChangesiReportingtheResultsofOperationsReportingtheResultsofOpera操作結(jié)果報告課件Thistaxexpensedoesnotincludeeffectsofunusual,nonrecurringitems.ThistaxexpensedoesnotinclTheseunusual,nonrecurringitemsareeachreportednetoftaxes.Theseunusual,nonrecurringitDiscontinuedOperationsIncome/Lossfromoperatingthesegmentpriortodisposal.DiscontinuedOperationsIncome/Lossondisposalofthesegment.Whenmanagemententersintoaformalplantosellordiscontinueasegmentofthebusiness.DiscontinuedOperationsIncome/DiscontinuedOperationsWhenmanagemententersintoaformalplantosellordiscontinueasegmentofthebusiness.Asegmentmustbeaseparatelineofbusinessactivityoranoperationthatservicesadistinctcategoryofcustomers.DiscontinuedOperationsWhenmaDuring2000,ApexCo.soldanunprofitablesegmentofthecompany.Thesegmenthadanetlossfromoperationsduringtheperiodof$150,000anditsassetssoldatalossof$100,000.Apexreportedincomefromcontinuingoperationsof$350,000.Allitemsaretaxedat30%.Howwillthisappearontheincomestatement?DiscontinuedOperations

ExampleDuring2000,ApexCo.soldanDiscontinuedOperationsExampleDiscontinuedOperationsExamplIncomeStatementPresentation:DiscontinuedOperationsExampleIncomeStatementPresentation:Materialinamount.Gainsorlossesthatarebothunusualinnatureandnotexpectedtorecurintheforeseeablefuture.Reportednetofrelatedtaxes.ExtraordinaryItemsMaterialinamount.ExtraordinaDuring2000,ApexCo.experiencedalossof$75,000duetoanearthquakeatoneofitsmanufacturingplantsinNashville.Thiswasconsideredanextraordinaryitem.Thecompanyreportedincomebeforeextraordinaryitemof$175,000.Allgainsandlossesaresubjecttoa30%taxrate.Howwouldthisitemappearonthe2000incomestatement?ExtraordinaryItems

ExampleDuring2000,ApexCo.experienExtraordinaryItems

ExampleExtraordinaryItems

ExampleIncomeStatementPresentation:ExtraordinaryItems

ExampleIncomeStatementPresentation:AccountingChangesAccountingChangesChangeinAccountingPrincipleOccurswhenchangingfromoneGAAPmethodtoanotherGAAPmethod.Makeacatch-upadjustmentknownasthecumulativeeffectofachangeinaccountingprinciple.Thecumulativeeffectisreportednetoftaxesandafterextraordinaryitems.ChangeinAccountingPrincipleChangeinAccountingPrincipleExampleAlsoin2000,ApexCo.decidedtochangefromthedouble-decliningbalancetothestraight-linemethodfordepreciation.Theeffectofthischangeisanincreaseinnetincomeof$65,000.Apexreportedincomebeforecumulativeeffectofanaccountingchangeof$122,500duringtheyear.Allitemsofincomearesubjecttoa30%taxrate.Howwouldthisitemappearontheincomestatement?ChangeinAccountingPrincipleChangeinAccountingPrincipleExampleComputation:ChangeinAccountingPrincipleComputation:IncomeStatementPresentation:ChangeinAccountingPrincipleExampleComputation:IncomeStatementPChangeinEstimatesRevisionofapreviousaccountingestimate.Thenewestimateshouldbeusedinthecurrentandfutureperiods.Theprioraccountingresultsshouldnotbedisturbed.ChangeinEstimatesRevisionofChangeinEstimates

ExampleOnJanuary1,1997,wepurchasedequipmentcosting$30,000,withausefullifeof10yearsandnosalvagevalue.During2000,wedeterminethattheremainingusefulis5years(8-yeartotallife).Weusestraight-linedepreciation.Computethereviseddepreciationexpensefor2000.ChangeinEstimates

ExampleOnRecorddepreciationexpenseof$4,200for2000andsubsequentyears.ChangeinEstimates

ExampleRecorddepreciationexpenseofLet’smoveontoafewfinaltopics.Let’smoveontoafewfinaltPrice-earningsRatio(P/E)Often,thePrice-EarningsRatioisusedtoevaluatethereasonablenessofacompany抯stockprice.Let’sexaminethisfurther.Price-earningsRatio(P/E)OfteEarningsPerShare(EPS)Ameasureofthecompany抯profitabilityandearningpowerfortheperiod.Basedonthenumberofsharesissuedandthelengthoftimethatnumberremainedunchanged.EarningsPerShare(EPS)AmeasEarningsPerShare(EPS)-

PartialIncomeStatementUsetheinformationfromApexCo.thatwasgeneratedearlier.AssumethatApexhasweightedaveragesharesoutstandingof156,250.PrepareapartialincomestatementshowingtheEPSforIncomefromOperationsandfortheotherspecialitems.EarningsPerShare(EPS)-

ParEarningsPerShare(EPS)-

PartialIncomeStatement*Roundingerror.EarningsPerShare(EPS)-

ParEarningsPerShare(EPS)Ifpreferredstockispresent,subtractpreferreddividendsfromnetincomepriortocomputingEPS.EPSisrequiredtobereportedintheincomestatement.EarningsPerShare(EPS)IfpreAccountingforCashDividendsDeclaredbyboardofdirectors.Notlegallyrequired.Createsliabilityatdeclaration.RequiressufficientRetainedEarningsandCash.AccountingforCashDividendsDDividendDatesDateofDeclarationBoardofdirectorsdeclaresthedividend.Recordaliability.DividendDatesDateofDeclaratDividendDatesEx-DividendDateThedaywhichservesastheownershipcut-offpointforthereceiptofthemostrecentlydeclareddividend.DividendDatesEx-DividendDateDividendDatesXDateofRecordStockholdersholdingsharesonthisdatewillreceivethedividend.

(Noentry)DividendDatesXDateofRecordDateofPaymentRecordthepaymentofthedividendtostockholders.DividendDatesDateofPaymentDividendDatesDividendDates

QuestionOnJune1,1999acorporation’sboardofdirectorsdeclaredadividendforthe2,500sharesofits$100parvalue,8%preferredstock.ThedividendwillbepaidonJuly15.WhichofthefollowingwillbeincludedintheJuly15entry?

a.DebitRetainedEarnings$20,000.b.DebitDividendsPayable$20,000.c.CreditDividendsPayable$20,000.d.C

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