會(huì)計(jì)學(xué)1Chap會(huì)計(jì)學(xué)基礎(chǔ)實(shí)用HowMuchCashShouldaBusinessHave?CashShort-termInvestmentsReceivablesFinancialAssets第1頁(yè)/共62頁(yè)HowMuchCashShouldaBusinessHave?AccountsreceivableMarketablesecurities(short-terminvestments)Cash(andcashequivalents)CollectionsfromcustomersCashpayments“Excess”cashisinvestedtemporarilyInvestmentsaresoldascashisneeded第2頁(yè)/共62頁(yè)TheValuationofFinancialAssetsEstimatedcollectibleamount第3頁(yè)/共62頁(yè)CashCoinsandpapermoneyChecksMoneyordersTravelers’checksBankcreditcardsalesCashisdefinedasanydepositbankswillaccept.第4頁(yè)/共62頁(yè)CombinedwithcashonbalancesheetReportingCashintheBalanceSheetLiquidshort-terminvestmentsStablemarketvaluesMatureswithin90daysofacquisitionCashEquivalents第5頁(yè)/共62頁(yè)NotavailableforpayingcurrentliabilitiesReportingCashintheBalanceSheetNotacurrentassetListedasaninvestment“Restricted”Cash第6頁(yè)/共62頁(yè)Bankagreesinadvancetolendmoney.ReportingCashintheBalanceSheetLiabilityisincurredwhenlineofcreditisused.Unusedlineofcreditisdisclosedinnotes.LinesofCredit第7頁(yè)/共62頁(yè)TheStatementofCashFlowsSummarizescashtransactionsforanaccountingperiod.StatementofCashFlowsIncludescashandcashequivalents.第8頁(yè)/共62頁(yè)CashManagementAccuratelyaccountforcash.Preventtheftandfraud.Assuretheavailabilityofadequateamountsofcash.Avoidunnecessarilylargeamountsofidlecash.第9頁(yè)/共62頁(yè)UsingExcessCashBalancesEfficientlyCashavailableforlong-terminvestmentmaybeusedtofinancegrowthandexpansionofthebusiness,ortorepaydebt.Cashnotneededforbusinesspurposesshouldbedistributedtothecompany’sstockholders.第10頁(yè)/共62頁(yè)InternalControlOverCashSegregateauthorization,custodyandrecordingofcash.Prepareacashbudget.Prepareacontrollistingofcashreceipts.Requiredailydeposits.Makeallpaymentsbycheck.Verifyeveryexpenditurebeforepayment.Promptlyreconcilebankstatements.第11頁(yè)/共62頁(yè)CashOverandShortCashOverandShortisdebitedforshortagesandcreditedforoverages.OnMay5,XBAR,Inc.’scashdrawerwascountedandfoundtobe$10over.第12頁(yè)/共62頁(yè)BankStatementsShowsthebeginningbankbalance,depositsmade,checkspaid,otherdebitsandcreditsinthemonth,andtheendingbankbalance.BankStatement第13頁(yè)/共62頁(yè)ReconcilingtheBankStatementExplainsthedifferencebetweencashreportedonbankstatementandcashbalanceindepositor’saccountingrecords.Providesinformationforreconcilingjournalentries.第14頁(yè)/共62頁(yè)ReconcilingtheBankStatement

BalanceperBank+DepositsinTransit-OutstandingChecks±BankErrors=AdjustedBalance

BalanceperDepositor+DepositsbyBank(creditmemos)-ServiceCharge-NSFChecks±BookErrors=AdjustedBalance第15頁(yè)/共62頁(yè)ReconcilingtheBankStatementAllreconcilingitemsonthebooksiderequire

anadjustingentrytothecashaccount.

BalanceperDepositor+DepositsbyBank(creditmemos)-ServiceCharge-NSFChecks±BookErrors=AdjustedBalance第16頁(yè)/共62頁(yè)ReconcilingtheBankStatementPrepareaJuly31bankreconciliationstatementandtheresultingjournalentriesfortheSimmonsCompany.TheJuly31bankstatementindicatedacashbalanceof$9,610,whilethecashledgeraccountonthatdateshowsabalanceof$7,430.Additionalinformationnecessaryforthereconciliationisshownonthenextpage.第17頁(yè)/共62頁(yè)Outstandingcheckstotaled$2,417.A$500checkmailedtothebankfordeposithadnotreachedthebankatthestatementdate.Thebankreturnedacustomer’sNSFcheckfor$225receivedaspaymentofanaccountreceivable.Thebankstatementshowed$30interestearnedonthebankbalanceforthemonthofJuly.Check781forsuppliesclearedthebankfor$268butwaserroneouslyrecordedinourbooksas$240.A$486depositbyAcmeCompanywaserroneouslycreditedtoouraccountbythebank.第18頁(yè)/共62頁(yè)ReconcilingtheBankStatement第19頁(yè)/共62頁(yè)ReconcilingtheBankStatement第20頁(yè)/共62頁(yè)Usedforminorexpenditures.PettyCashFundsHasonecustodian.Replenishedperiodically.PettyCashFunds第21頁(yè)/共62頁(yè)Short-TermInvestmentsBondInvestmentsCapitalStockInvestmentsCurrentAssetsAlmostAsLiquidAsCashReadilyMarketableMarketableSecuritiesare...第22頁(yè)/共62頁(yè)APrincipleofAssetValuationMostshort-terminvestmentsinmarketablesecuritiesareclassifiedasavailableforsaleandappearonthebalancesheetattheircurrentmarketvalue.第23頁(yè)/共62頁(yè)Let’sturnourattentiontoaccountsreceivable.第24頁(yè)/共62頁(yè)UncollectibleAccountsIfacompanymakescreditsalestocustomers,someaccountsinevitablywillturnouttobeuncollectible.PASTDUE第25頁(yè)/共62頁(yè)ReflectingUncollectibleAccountsintheFinancialStatementsAttheendofeachperiod,recordanestimateoftheuncollectibleaccounts.Contra-assetaccountSellingexpense第26頁(yè)/共62頁(yè)TheAllowanceforDoubtfulAccountsThenetrealizablevalueistheamountofaccountsreceivablethatthebusinessexpectstocollect.第27頁(yè)/共62頁(yè)WritingOffanUncollectibleAccountReceivableWhenanaccountisdeterminedtobeuncollectible,itnolongerqualifiesasanassetandshouldbewrittenoff.第28頁(yè)/共62頁(yè)WritingOffanUncollectibleAccountReceivableAssumethatonJanuary5,K-MaxdeterminedthatJasonClarkwouldnotpaythe$500heowes.K-Maxwouldmakethefollowingentry.第29頁(yè)/共62頁(yè)WritingOffanUncollectibleAccountReceivableAssumethatbeforethisentry,theAccountsReceivablebalancewas$10,000andtheAllowanceforDoubtfulAccountsbalancewas$2,500.Let’sseewhateffectthewrite-offhadontheseaccounts.第30頁(yè)/共62頁(yè)WritingOffanUncollectibleAccountReceivableNoticethatthe$500write-offdidnotchangethenetrealizablevaluenordiditaffectanyincomestatementaccounts.第31頁(yè)/共62頁(yè)MonthlyEstimatesofCreditLossesAttheendofeachmonth,managementshouldestimatetheprobableamountofuncollectibleaccountsandadjusttheAllowanceforDoubtfulAccountstothisnewestimate.TwoApproachestoEstimatingCreditLosses:BalanceSheetApproachIncomeStatementApproach第32頁(yè)/共62頁(yè)EstimatingCreditLosses—TheBalanceSheetApproach

Year-endAccountsReceivableisbrokendownintoageclassifications.

Eachagegroupinghasadifferentlikelihoodofbeinguncollectible.

Computeaseparateallowanceforeachagegrouping.第33頁(yè)/共62頁(yè)EstimatingCreditLosses—TheBalanceSheetApproachAtDecember31,2005,thereceivablesforEastCo,Inc.werecategorizedasfollows:

第34頁(yè)/共62頁(yè)EstimatingCreditLosses—TheBalanceSheetApproachAtDecember31,2005,thereceivablesforEastCo,Inc.werecategorizedasfollows:

第35頁(yè)/共62頁(yè)EstimatingCreditLosses—TheBalanceSheetApproachAtDecember31,2005,thereceivablesforEastCo,Inc.werecategorizedasfollows:

第36頁(yè)/共62頁(yè)EastCo’sunadjustedbalanceintheallowanceaccountis$500.Perthepreviouscomputation,thedesiredbalanceis$1,350.EstimatingCreditLosses—TheBalanceSheetApproach第37頁(yè)/共62頁(yè)Let’slookatanotherwaytoestimatecreditlosses!第38頁(yè)/共62頁(yè)EstimatingCreditLosses—TheIncomeStatementApproachUncollectibleaccounts’percentageisbasedonactualuncollectibleaccountsfromprioryears’creditsales.FocusisondeterminingtheamounttorecordontheincomestatementasUncollectibleAccountsExpense.第39頁(yè)/共62頁(yè)EstimatingCreditLosses—TheIncomeStatementApproach第40頁(yè)/共62頁(yè)EstimatingCreditLosses—TheIncomeStatementApproachIn2005,EastCohadcreditsalesof$60,000.Historically,1%ofEastCo’screditsaleshasbeenuncollectible.For2005,theestimateofuncollectibleaccountsexpenseis$600.($60,000×.01=$600)Now,preparetheadjustingentryforDecember31,2005.第41頁(yè)/共62頁(yè)EstimatingCreditLosses—TheIncomeStatementApproach第42頁(yè)/共62頁(yè)UncollectibleAccounts

SummaryAgingofReceivablesEmphasisonRealizableValueAccts.Rec.All.forDoubtfulAccts.BalanceSheetFocus%ofCreditSalesEmphasisonMatchingSalesUncoll.Accts.Exp.IncomeStatementFocus第43頁(yè)/共62頁(yè)ConcentrationsofCreditRiskConcentrationsofcreditriskoccurifasignificantportionofacompany’sreceivablesareduefromafewmajorcustomersorfromcustomersoperatinginthesameindustryorgeographicregion.TheFASBrequiresdisclosureofallsignificantconcentrationsofcreditriskinthenotestothefinancialstatements.第44頁(yè)/共62頁(yè)RecoveryofanAccountReceivablePreviouslyWrittenOffSubsequentcollectionsrequirethattheoriginalwrite-offentrybereversedbeforethecashcollectionisrecorded.第45頁(yè)/共62頁(yè)DirectWrite-OffMethodThismethodmakesnoattempttomatchrevenueswiththeexpenseofuncollectibleaccounts.第46頁(yè)/共62頁(yè)IncomeTaxRegulationsandFinancialReportingDirectwrite-offmethodrequiredtocalculatetaxableincome.TaxableIncomeFinancialStatementIncomeGAAPGAAPGAAPGAAPAllowancemethodsbettermatchexpenseswithrevenues.第47頁(yè)/共62頁(yè)InternalControlsforReceivableSeparatethefollowingduties:Maintenanceoftheaccountsreceivablesubsidiaryledger.Custodyofcashreceipts.Authorizationofaccountsreceivablewrite-offs.第48頁(yè)/共62頁(yè)ManagementofAccountsReceivableCreditTermsMinimizeAccountsReceivableExtendingcreditencouragescustomerstobuyfromus......butittiesupresourcesinaccountsreceivable.第49頁(yè)/共62頁(yè)ManagementofAccountsReceivableFactoringAccountsReceivableCreditCardSales第50頁(yè)/共62頁(yè)Apromissorynoteisanunconditionalpromiseinwritingtopayondemandoratafuturedateadefinitesumofmoney.NotesReceivableandInterestRevenueMaker—thepersonwhosignsthenoteandtherebypromisestopay.Payee—thepersontowhompaymentistobemade.第51頁(yè)/共62頁(yè)P(yáng)ROMISSORYNOTELocation

Dateafterthisdatepromisestopaytotheorderofthesumofwithinterestattherateofperannum.

signed

titleMiami,FlNov.1,2005NinetydaysPorterCompanyJohnCaldwellHallCompany$10,000.0012.0%CFO,PorterCompanyNotesReceivableandInterestRevenuePorterCompanyisreplacinganexistingAccountsReceivablewiththisNoteReceivablewithHallCompany.第52頁(yè)/共62頁(yè)OnNovember1,2005,HallCompanywouldmakethefollowingentry.NotesReceivableandInterestRevenue第53頁(yè)/共62頁(yè)Interest

isachargemadefortheuseofmoney.Theborrowerincursinterestexpense.Thelenderearnsinterestrevenue.Interestratesdown!NotesReceivableandInterestRevenueLender第54頁(yè)/共62頁(yè)

Theinterestformulaincludesthreevariables:Interest=Principal×InterestRate×TimeWhencomputinginterestforoneyear,“Time”