會計學課件(英文版)1

Chapter

7Financial

Assets?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-Hill$?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillHow

Much

Cash

Should

a

BusinessHave?Everybusinessneedsenoughcash

to

payits

bills!?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillHow

Much

Cash

Should

a

BusinessHave?CashShort-termInvestmentsReceivablesFinancialAssetsHow

Much

Cash

Should

a

BusinessHave?AccountsreceivableMarketablesecurities(short-terminvestments)Cash

(and

cashequivalents)?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillCollectionsfromcustomersCashpayments揈xcess?cashis

investedtemporarily.Investmentsare

sold

ascash

isneeded.The

Valuation

of

Financial

AssetsEstimated

collectible

amount?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillCashCoins

andpapermoneyChecksMoney

ordersTravelers?checksBank

creditcard

sales?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillCash

isdefined

asany

depositbanks

willaccept.Combinedwith

cash

onbalance

sheetReporting

Cash

in

the

BalanceSheetLiquid

short-terminvestmentsStablemarketvaluesMatureswithin

90days

ofacquisitionCashEquivalents?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillNot

availablefor

payingcurrentliabilitiesReporting

Cash

in

the

BalanceSheetNot

a

currentassetListed

as

aninvestment揜estricted?Cash?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillBank

agrees

inadvance

to

lendmoney.Reporting

Cash

in

the

BalanceSheetLiability

isincurred

whenuse

line

of

credit.Unused

line

ofcredit

isdisclosed

innotes.Lines

ofCredit?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillThe

Statement

of

Cash

FlowsSummarizes

cashtransactions

for

anaccounting

period.Statement

of

Cash

FlowsIncludes

cash

and

cashequivalents.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillAccurately

account

for

cash.Prevent

theft

and

fraud.Assure

the

availability

ofadequate

amounts

of

cash.Avoid

unnecessarily

largeamounts

of

idle

cash.Cash

Management?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillUsing

Excess

Cash

BalancesEfficientlyCash

available

forlong-term

investmentmay

be

used

to

financegrowth

and

expansionofthe

business,

or

torepay

debt.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillCash

not

needed

forbusiness

purposesshould

be

distributedto

the

company’sstockholders.Internal

Control

Over

CashSegregate

authorization,

custody

and

recording

ofcash.Prepare

a

cash

budget.Prepare

a

control

listing

of

cash

receipts.Require

daily

deposits.Make

all

payments

by

check.Verify

every

expenditurebefore

payment.Promptly

reconcile

bank

statements.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillCash

Over

and

ShortCash

Over

and

Short

is

debited

for

shortagesand

credited

for

overages.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillOn

May

5,XBAR,Inc.抯cash

drawer

wascounted

and

found

to

be

$10over.Bank

StatementsShows

the

beginning

bank

balance,deposits

made,

checks

paid,

otherdebits

and

credits

in

the

month,

andthe

ending

bank

balance.BankStatement?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillReconciling

the

Bank

Statement?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillExplains

the

difference

between

cashreported

on

bank

statement

and

cashbalance

in

depositor抯accountingrecords.Provides

information

forreconciling

journal

entries.Reconciling

the

Bank

StatementBalance

per

Bank+

Deposits

in

Transit-

Outstanding

Checks?Bank

Errors=

Adjusted

BalanceBalance

per

Depositor+

Deposits

by

Bank(credit

memos)Service

ChargeNSF

Checks?Book

Errors=

Adjusted

Balance?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillReconciling

the

Bank

StatementAllreconcilingitems

on

thebook

siderequire

anadjustingentry

to

thecash

account.Balance

per

Depositor+

Deposits

by

Bank(credit

memos)Service

ChargeNSF

Checks?Book

Errors=

Adjusted

Balance?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillReconciling

the

Bank

Statement?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillExamplePrepare

aJuly

31

bank

reconciliationstatement

and

the

resulting

journal

entriesforthe

Simmons

Company.

The

July

31bank

statement

indicated

a

cash

balance

of$9,610,

while

the

cash

ledger

account

onthat

date

shows

a

balanceof

$7,430.Additional

information

necessary

for

thereconciliation

is

shown

on

the

next

page.?

Outstanding

checks

totaled

$2,417.?

A

$500

check

mailed

to

the

bank

fordeposit?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-Hillhad

not

reachedthe

bank

atthe

statement

date.?

The

bank

returned

acustomer抯NSF

check

for$225

received

as

payment

of

an

accountreceivable.?

The

bank

statement

showed

$30

interest

earnedon

the

bank

balance

forthemonth

of

July.?

Check

781

for

supplies

cleared

the

bank

for$268

but

was

erroneously

recorded

in

ourbooks

as

$240.?

A

$486

deposit

by

Acme

Company

waserroneously

credited

to

our

account

by

thebank.Reconciling

the

Bank

StatementExample?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillReconciling

the

Bank

StatementExample?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillReconciling

the

Bank

StatementExample?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillUsed

for

minorexpenditures.Petty

Cash

FundsHas

onecustodian.Replenishedperiodically.Petty

CashFunds?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillShort-Term

InvestmentsBondInvestmentsCapitalStockInvestmentsCurrent

AssetsAlmost

AsLiquid

AsCashReadilyMarketable?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillMarketableSecuritiesare

.

.

.Mark-to-Market:

A

New

Principleof

Asset

ValuationShort-term

investments

in

marketable

securitiesappear

on

the

balance

sheet

at

their

current

marketvalue

as

of

the

balancesheet

date.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillLet’s

turn

ourattention

to

accountsreceivable.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillUncollectible

AccountsIf

a

company

makescredit

sales

tocustomers,

someaccounts

inevitably

willturn

out

to

beuncollectible.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillPAST

DUEReflecting

Uncollectible

Accountsin

the

Financial

StatementsAt

the

end

of

each

period,

recordan

estimate

of

the

uncollectibleaccounts.Contra-asset

accountSelling

expense?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillThe

Allowance

for

DoubtfulAccountsThe

net

realizable

value

is

the

amount

ofaccounts

receivable

that

the

businessexpects

to

collect.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillWriting

Off

an

UncollectibleAccount

ReceivableWhen

an

account

is

determined

to

beuncollectible,

it

no

longer

qualifies

as

an

assetand

should

be

written

off.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillWriting

Off

an

UncollectibleAccount

ReceivableAssume

that

on

January

5,

K-Maxdetermined

that

Jason

Clark

would

notpay

the

$500

he

owes.K-Max

would

make

the

following

entry.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillWriting

Off

an

UncollectibleAccount

Receivable?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillAssume

that

before

this

entry,

theAccounts

Receivable

balance

was$10,000

and

the

Allowance

for

DoubtfulAccounts

balance

was

$2,500.Let抯see

what

effect

the

write-off

had

onthese

accounts.Writing

Off

an

UncollectibleAccount

ReceivableNotice

that

the

$500

write-off

did

not

change

the

netrealizable

value

nor

did

it

affect

any

incomestatement

accounts.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillIIrrwwiinn//MMccGGrraaww--HHiillll

??TThhee

MMccGGrraaww--HHiillll

CCoommppaanniieess,,

IInncc..,,

11999999Recovery

of

an

Account

ReceivablePreviously

Written

OffSubsequent

collections

require

that

the

original

write-offentry

be

reversed

before

the

cash

collection

is

recorded.Monthly

Estimates

of

Credit

LossesAt

the

end

of

eachmonth,

managementshould

estimate

theprobable

amount

ofuncollectible

accountsand

adjust

theAllowance

forDoubtful

Accounts

tothis

new

estimate.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillMonthly

Estimates

of

Credit

LossesExampleAt

December

31,2001,MusicLand抯accountingrecords

indicate

the

following:Accounts

Receivable

=

$50,000Allowance

for

Doubtful

Accounts

=

$200

(credit)Past

experience

suggests

that

5%

of

receivablesare

uncollectible.What

is

MusicLand抯Uncollectible

AccountsExpense

for

2001??The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillMonthly

Estimates

of

Credit

Losses?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillExampleDesired

balance

in

Allowancefor

Doubtful

Accounts.Let’s

look

atanother

wayto

estimatetheuncollectibleaccounts!?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillEstimating

Credit

Losses

?Thebalance

Sheet?Approach·

Year-end

Accounts

Receivable

isbroken

down

into

ageclassifications.·

Each

age

grouping

has

adifferent

likelihood

of

beinguncollectible.·

Compute

a

separate

allowancefor

each

age

grouping.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillEstimating

Credit

Losses

?Thebalance

Sheet?ApproachAt

December

31,

2001,

the

receivables

forEastCo,

Inc.

were

categorized

as

follows:·?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillEstimating

Credit

Losses

?Thebalance

Sheet?Approach?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillAt

December

31,

2001,

the

receivables

forEastCo,

Inc.

were

categorized

as

follows:··Estimating

Credit

Losses

?Thebalance

Sheet?Approach?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillAt

December

31,

2001,

the

receivables

forEastCo,

Inc.

were

categorized

as

follows:·

··IIrrwwiinn//MMccGGrraaww--HHiillll

??TThhee

MMccGGrraaww--HHiillll

CCoommppaanniieess,,

IInncc..,,

11999999EastCo抯unadjusted

balancein

the

allowance

account

is$500.Per

the

previous

computation,the

desired

balance

is

$1,350.Estimating

Credit

Losses

?Thebalance

Sheet?ApproachGuess

What!There

isanotheralternative

toestimate

theuncollectibleaccounts!?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillAn

Alternative

Approach

toEstimating

Credit

LossesUncollectibleaccounts?percentage

is

basedon

actual

uncollectible

accountsfrom

prior

years?credit

sales.Focus

is

on

determining

the

amount

torecord

on

the

income

statement

asUncollectible

Accounts

Expense.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillAn

Alternative

Approach

toEstimating

Credit

Losses?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillAn

Alternative

Approach

toEstimating

Credit

Losses?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillIn

2001,

EastCo

had

credit

sales

of

$60,000.Historically,1%of

EastCo抯accounts

havebeen

uncollectible.For

2001,

the

estimate

of

uncollectibleaccounts

expense

is

$600.($60,000

?.01

=

$600)Now,

prepare

the

adjusting

entry

forDecember

31,

2001.An

Alternative

Approach

toEstimating

Credit

Losses?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillUncollectible

AccountsSummary%

of

ReceivablesEmphasis

onRealizable

ValueAccts.Rec.All.

forDoubtfulAccts.Aging

ofReceivablesEmphasis

onRealizable

ValueAccts.Rec.All.

forDoubtfulAccts.BalanceSheet

FocusBalanceSheet

Focus%

of

SalesEmphasis

onMatchingSalesUncoll.Accts.Exp.IncomeStatementFocus?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillDirect

Write-Off

MethodThis

method

makes

no

attempt

tomatch

revenue

with

the

expense

ofuncollectible

accounts.?The

McGraw-Hill

Companies,

Inc.,

1999Irwin/McGraw-HillIncome

Tax

Regulations

andFinancial

ReportingDirect

write-off

methodrequired

to

calculatetaxable

income.Taxable

IncomeFinancialStatement

IncomeGAAGPGAAGPGPAAPGAAPAllowance

methodsbetter

match

expenseswith

revenues.?The

McGraw-Hi