(本科）會(huì)計(jì)專業(yè)英語教案Chapter4(本科）會(huì)計(jì)專業(yè)英語教案Chapter4PAGE17PAGE1第頁(本科）會(huì)計(jì)專業(yè)英語教案Chapter4教學(xué)目標(biāo)知識(shí)目標(biāo)：Explainthedefinition

ofliabilitiesUnderstandthedifferentcategoriesofliabilities能力目標(biāo)：AccountforaccountspayableandnotespayableAccountfortheissuanceofbonds素質(zhì)目標(biāo)：Identifycurrentliabilityandnon-currentliabilityUnderstandthetypicalcharacteristicsofbonds教學(xué)重點(diǎn)UnderstandliabilitiesAccountforliabilities教學(xué)難點(diǎn)Accountfortheissuanceofbonds教學(xué)手段結(jié)合理論與案例小組討論教學(xué)學(xué)時(shí)2課時(shí)教學(xué)內(nèi)容與教學(xué)過程設(shè)計(jì)注釋Chapter4Liability〖理論知識(shí)〗Topic1:CurrentLiability1.AccountspayableAccountspayablerefertooralorimpliedpromisestopaylaterandtheyarethemostcommonlyseencurrentliabilities.Theyrepresentbalancesowedtooutsidersfromgoods,suppliesandservicespurchasedonopenaccount.Theaccountspayableledgerisarecordofwhatyouoweeachvendor.Thecashdisbursementsjournalhasaccountspayablecreditanddebitcolumns.Creditpurchasesandpaymentsonaccountareenteredinthesetwocolumns,respectively.Attheendofthemonththeyaretotaledandpostedtothecontrolaccountinthegeneralledger.2.NotespayableNotespayablearewrittenpromissorynotes.Themakerofthenotepromisesofthepromisestopaythefaceamountofthenoteattheduedate,whichalsoiscalledmaturitydate.Currentnotespayablearenormallytradenotespayablewhicharecurrentobligationstosuppliersforwhichtherearewrittenpromissorynotes(itisoperatingactivity).

Notespayableshouldberecordedatthepresentvalueofthecashoutflows(paymentsofprincipalandinterest)associatedwiththenote.Iftheyarenotrecordedatpresentvalue,theliabilityreportedinthebalancesheetwillbeoverstated,andinterestexpensereportedintheincomestatementwillbeunderstated.Thegenerallyacceptedpracticeistoreportalltradenotepayableatitsfaceamount,becausethedollaramountandtherelativelyshortdurationofsuchanotemakethedifferencebetweenitsfaceamountanditspresentvalueimmaterial.3.Short-termLoanShort-termloansusuallyarisefromcashloansandaregenerallypayabletobanksorloancompanies.Itisfinancingactivitiesincashflowstatement.Inmostcases,thelifeofanoteissomewherebetweenthirtydaysandoneyear,andthebankorloancompanylendstheborrowingcompanylesscashthanisindicatedonthefaceofthenote.Atthematuritydate(whentheloanisdue),theborrowingcompanypaysthelendinginstitutionthefaceamountofthenote,andthedifferencebetweenthefaceamountandtheamountoftheloanistreatedasinterest.

4.CurrentMaturitiesofLong-termDebtCompaniesoftenhaveaportionoflong-termdebtthatbecomesdueinthecurrentyear.Companiesoftenidentifycurrentmaturitiesoflong-termdebtonthebalancesheetaslong-termdebtduewithinoneyear.Itisnotnecessarytoprepareanadjustingentrytorecognizethecurrentmaturityoflong-termdebt.Atthebalancesheetdateallobligationsduewithinoneyearareclassifiedascurrentandallotherobligationsareclassifiedaslong-term.

5.AccruedLiability(1)InterestpayableInterestpayableistheamountofinterestonitsdebtandcapitalleasesthatacompanyowestoitslendersandleaseprovidersasofthebalancesheetdate.Thisamountcanbeacrucialpartofafinancialstatementanalysis,iftheamountofinterestpayableisgreaterthanthenormalamount-itindicatesthatabusinessisdefaultingonitsdebtobligations.(2)IncomeTaxesPayableTheincometaxpayableisusuallyclassifiedasacurrentliabilityinthebalancesheet,sinceitisnormallypayabletotheapplicablegovernment(s)withinoneyear.Incometaxpayableisaliabilitythatanentityincursthatisbasedonitsreportedlevelofprofitability.Thetaxcanbepayabletoavarietyofgovernments.Oncetheorganizationpaystheincometax,theliabilityiseliminated.6.UnearnedRevenueUnearnedrevenueariseswhenasellerhasreceivedapayment,buthasnotyetshippedgoodsorprovidedservicestothebuyer.Unearnedrevenueistypicallyconsideredashort-termliabilityaccount,sincetheamountsstoredinitareusuallysettledwithin12months,inwhichisstoredallpaymentsfromcustomersforgoodsorservicesthathavenotyetbeendelivered.Oncetherelatedgoodsorserviceshavebeendelivered,theamountinthisaccountisshiftedtoarevenueaccount.7.ContingentLiabilityAcontingentliabilitymayberegardedasapossibleliability,whichmaydevelopintoafull-fledgedliabilityormaybeeliminatedentirelybyafutureevent.Topic2:Non-currentLiability1.BondsPayableAbondisafixedobligationtopaythatisissuedbyacorporationorgovernmententitytoinvestors.Bondsareusedtoraisecashforoperationalorinfrastructureprojects.

Bondspayableisaliabilityaccountthatcontainstheamountowedtobondholdersbytheissuer.Thisaccounttypicallyappearswithinthelong-termliabilitiessectionofthebalancesheet,sincebondstypicallymatureinmorethanoneyear.

(1)Classification

RegisteredBond&CouponBond

TermBond&SerialBond

ConvertibleBond&CallableBond

SecuredBond&DebentureBond

(2)BondsIssued:BondsIssuedatFaceAmount：Ifthecouponrateofabondcoincideswiththemarketrateofinterestwhenthebondsareactuallysoldtoinvestors,thenthebondswillsellatfacevalue.BondsIssuedatDiscount：Bondissuedatdiscountiseitherabondthatwasoriginallysoldatlessthanitsfacevalue,orwhichnowtradesatapricebelowitsfacevalue(orboth).BondsIssuedatPremium：Bondsissuedatpremiumistheexcessamountbywhichbondsareissuedovertheirfacevalue.2.Long-termNotesPayableLong-termnotespayablearesimilartoshort-terminterest-bearingnotespayableexceptthatthetermsofthenotesexceedoneyear.Along-termnotemaybesecuredbyadocumentcalledamortgagethatpledgestitletospecificassetsassecurityforaloan.

Mortgagenotespayablearewidelyusedinthepurchaseofhomesbyindividualsandintheacquisitionofplantassetsbymanysmallandsomelargecompanies.Whenamortgagenoteisissued,theborrowerpledgestitletospecificassetsascollateralfortheloan.

〖小結(jié)〗1.LiabilitiesmaybedefinedasdebtsorobligationsarisingfrompasttransactionsoreventsChaptersummaryandrequiringsettlementatafuturedate.Thus,liabilitiesrepresentexistingobligationsforabusinesstopartwithitsresourcesinthefuture.2.Currentliabilitiesareobligationsthatmustbepaidwithinoneyearorwithintheoperatingcycle,whicheverislonger.Anotherrequirementforclassificationasacurrentliabilityistheexpectationthatthedebtwillbepaidfromcurrentassets(orthroughtherenderingofservice).Liabilitiesthatdonotmeettheseconditionsareclassifiedaslong-termliabilitiesasthematuritydateofalong-termliabilityapproaches,theobligationeventuallybecomesduewithinthecurrentperiod.Long–termliabilitieswhichbecomeduewithinthecurrentyeargenerallyarereclassifiedinthebalancesheetascurrentliabilities.3.Thetimeperiodusedindefiningcurrentliabilitiesparallelsthatusedindefiningcurrentassetsamongthemostcommonexamplesofcurrentliabilitiesareaccountspayable,short-termnotespayable,thecurrentportionoflong-termdebt,accrualliabilitiesandunearnedrevenue.4.Long-termobligationsusuallyarisefrommajorexpenditures.Thus,transactionsinvolvinglong-termliabilitiesarerelativelyfewinnumberbu