會(huì)計(jì)專業(yè)英語（第2版）課件 耿云江Chapter 5 Non-current Assets、Chapter 6 Liabilities、Chapter 7 Owners Equity

會(huì)計(jì)專業(yè)英語Chapter5Non-currentAssets5.1.1DefinitionandCharacteristicsofFixedAssetsLong-livedassetsacquiredforuseintheoperationofthebusinessbutnotintendedforresaletocustomers.Thecommonexamplesoffixedassetsincludehouses,buildings,machinery,vehicleandotherequipmentandtoolsrelatedtoproductionandoperation..5.1FixedAssets1.FixedAssetsBelongtoTangibleAssetsFixedassetsareexistingentitieswhichcanbeseenandfelt.Theyaredifferentfromintangibleassets,accountsreceivable,andotherreceivables.Foranintangibleasset,althoughitcanbeusedforalongtime,andevenitsusefullifeexceedstheusefullifeoffixedassets,itcannotbeusedasfixedassetsbecauseofitsinvisibility.Inpractice,mostofcasharedepositedinbankandacompanyneedstoreconcilewithbankbypreparingbankreconciliations.Usually,therearetwosectionsinthebankreconciliation.Thefirstsectionbeginswithcashbalanceinthebankstatementandendswiththeadjustedbalance.Thesecondsectionstartswiththecashbalanceinthecompany’s(depositor’s)journalofcashandendswiththeadjustedbalance.Thesetwoadjustedbalancesmustbeequal.2.FixedAssetCanBeUsedforaLongTimeFixedassetisalong-termdurableasset,whoseusefullifeismorethanoneaccountingperiod.Generally,theusefullifeofafixedassetreferstotheexpectedperiodofusingafixedassets.3.FixedAssetsAreNotIntendedforResaleandInvestmentThepurposeofobtainingafixedassetistoservetheproductionandbusinessactivities.Companiescanproduceproductsthroughfixedassets,andearnsalesrevenuethroughthesaleofproducts;Companiescanrentfixedassettoothersandearnrentalincome;Fixedassetscanbeusedforadministrativemanagementsoastoimprovethemanagementlevelofenterprises.4.FixedAssetsHaveMeasurableFutureEconomicBenefitsThepurposeofobtainingfixedassetsaretoearnfutureeconomicbenefits,thoughthesebenefitsareobtainedbyconsumingtheirservicepotentials.Fixedassetsaremainlyclassifiedintotwogroups,depreciableassetsandnon-depreciableassets.1.DepreciableAssetsfixedassetswithphysicalsubstance,whichareexpectedtobeusedduringmorethanoneaccountingperiodandhavelimitedusefullife.2.Non-DepreciableAssetsTypicalexamplesofnon-depreciableassetsincludeFixedassetswhichhavebeenfinisheddepreciatingandcontinuetobeusedLandwhichisvaluedseparatelyandrecordedasfixedassetandthefixedassetheldforsale.5.1.2ClassificationofFixedAssetsIncludeallexpendituresreasonableandnecessaryinacquiringtheassetandplacingitinapositionandconditionforuseintheoperationofbusiness.Differentwaysofacquiringfixedassetsdeterminedifferenteconomiccontentscontainedintheirinitialvalues.5.1.3CostsofFixedAssets1.FixedAssetsPurchasedonCashPurchasingoncashistheimportantandmainwayofacquiringfixedassets.Thecostoftheseassetsareequaltothecashoutlaynecessaryinacquiringtheasset,importtariffs,othertaxesandanyothercostsnecessarytomaketheassetreadyforuse,suchasexpendituresforfreight,insurancewhileintransit,installation,andtrailruns.2.Self-ConstructedFixedAssetsThecostofaself-constructedfixedassetisequaltoalltheexpendituresbeforetheassetisreadyforuse.Theamountofdirectmaterials,directlabor,andvariableoverheadispartofthecostofconstructedassets,whilefixedoverheadisnotallocatedtothecost.Interestcostincurredduringconstructionisregardedaspartofthecostoffixedassets.3.DonatedFixedAssetsShouldbedeterminedaccordingtothespecificcircumstances.(1)Ifthedonatorhasprovidedrelevantreceipts,thecostofthedonatedassetisequaltotheamountrecordedonthereceiptplustherelevanttaxesandfees.(2)Ifdonatorhasnotprovidedrelevantreceipts,thecostofdonatedassetisdeterminedinthefollowingorder.①Ifthedonatedassetshavesimilaritemintheactivemarket,itscostisequaltotheestimatedamountaccordingtothemarketvalueofitssimilaritemplustherelevanttaxesandfees.②Ifthedonatedassetshavesimilarassets,whichdon’texistintheactivemarket,itscostisequaltothepresentvalueofexpectedfuturecashflowsplustherelevanttaxesandfees.4.FixedAssetsAcquiredByExchangeThecostofnewfixedassetsexchangedinequalstothefairvalueofthetradedoutassetplusrelevanttaxesandfees.Afteracquisition,costsrelatedtofixedassetsincur.Thecostsaredividedintocapitalexpendituresfortheexpansionoffixedassetsandrevenueexpendituresforroutinerepairsandotheritemsnecessarytotheownershipanduseoffixedassets.Capitalexpendituresarerecordedinassetaccounts;revenueexpendituresarerecordedbydebitstoexpenseaccounts.5.1.4Post-acquisitionExpenditures1.AdditionsAdditionsareextensions,enlargementsorexpansionsofanexistingasset.Thecostoftheadditioniscapitalized.Thevalueofanassetafterexpansionisequaltothebookvalueoftheoriginalassetplusthecostoftheaddition,minustheactualsalesrevenueofthescrapsoftheremovedparts.2.RenewalsArenewalisthesubstitutionofadisusedassetoritscomponentwithanewassetorcomponent.Thereplacedoldassetshouldbeterminatedandbededucteditsnetvaluefromthecostofconstructioninprocess.Thelossisrecordedasnon-operatingexpenses.3.MaintenanceandOrdinaryRepairsInordertorestoretheusefulefficiencyoffixedassetsandtoensurethatthefixedassetsarealwaysingoodconditions,itisnecessarytomaintaintheseassetsregularlyorirregularlyandrepairthedamagedpartsintime.Generally,costsofordinaryrepairsoccurringinthecurrentperiodarereflectedinthecurrentprofitorlossaccordingtotheiruseanddepartmentsusingtheseassets.4.RearrangementsandOtherAdjustmentsThecostsofrearrangementsandotheradjustmentsrefertothecostsofreinstallation,rerouting,orrearrangementsoffactorymachinerytoincreaseefficiency.Ifthebenefitsoftherearrangementcouldincurcashinflowsinfutureperiods,thecostsshouldbecapitalized.Depreciationreferstothesystematicallocationofthecostofeachfixedassetasexpenseamongtheyearsinwhichitisused.Depreciationisawaytomeasureandreflectthesechangesofservicepotentials.Depreciationdoesnotinfluencecashflows,butitdoesaffectthecurrentprofitorloss.5.1.5DepreciationandImpairmentMethodstoextractdepreciationstraight-linemethodunitsofproductionmethoddecliningbalancemethodsum-of-year-digitsmethod.Disposalsoffixedassetsrefertotheactivitytomakethefixedassetsoutofproductionandoperationowingtovariousreasons.TheSelling,transferring,damagingandinvestingoffixedassetsareallexamplesofdisposingfixedassets.Fixedassetsshouldbeterminatedtorecordwhenoneofthefollowingconditionsoccurs:①thefixedassetisinadisposingstate;②thefixedassetcannotgenerateeconomicbenefitsbydisposalsoruse.5.1.6DisposalsofFixedAssets5.2.1DefinitionandCharacteristicsofIntangibleAssetsIntangibleassetsbelongtoassetsandaredefinedasidentifiablenon-monetaryassetswithoutphysicalsubstance.Anintangibleassetmeetstheconfirmationcriteriawhenitis(1)separable,i.e.intangibleassetsareabletobeseparatedfromtheentityandcanbesold,transferred,licensed,rentedorexchangedeitherindividuallyortogetherwithacontract,assetorliability;(2)arisingfromcontractualorotherlegalrights,regardlessofwhetherthoserightsaretransferableorseparablefromtheentityorfromotherrightsandobligations.5.2IntangibleAssetsIntangibleassetshavethefollowingcharacteristics.(1)Nophysicalsubstance.Intangibleassetsstandforspecialrightsoradvantagesownedbyanentity,whichenableenterprisestoobtainadditionalbenefitshigherthantheaverageprofit.Itprovesthatintangibleassetsownagreatpotentialvalue.(2)Bringeconomicbenefitstothecompanyinalongtime.Thespecialrightsoradvantagesrepresentedbyintangibleassetscanexistforalongtime,sotheenterprisescanenjoybenefitsinalongperiod.(3)Thepurposeofowningintangibleassetsistoproducegoods,provideservices,renttoothers,ormanageenterprises.(4)Thefutureeconomicbenefitsareofhighuncertainty.Whetherintangibleassetscanprovidefuturebenefitsandhowmuchbenefitstheycouldprovideislargelydependentontheexternalfactors.Intangibleassetsmainlyincludepatents,trademarks,copyrightsandfranchises.1.PatentsArightgrantedbygovernmentformanufacture,useandsellaparticularproductexclusivelyinalegalperiod2.TrademarksAword,symbolordesignwhichisusedtoidentifyaproductoragroupofproducts.3.CopyrightsAnexclusiverightgrantedbygovernmentaimingtoprotecttheproductionandsellingofliteraryorartisticworksoveraperiodofthecreator’slifeplus50years.4.FranchisesArightgrantedbygovernmentaltoconductacertaintypeofbusinessinaspecificgeographicalarea,orarightgrantedbyacompanytouseaccordingtothecontract.5.2.2CommonTypesofIntangibleAssetsAnitemshouldberecognizedasintangibleassetswhen(1)itisprobablethattheexpectedfutureeconomicbenefitsattributedbytheassetwillflowtotheentity(2)thecostsoftheassetcanbemeasuredreliably5.2.3RecognitionandMeasurementofIntangibleAssets1.CostdeterminationofintangibleassetspurchasedbycashThecostoftheintangibleassetisequaltothecashoutlaynecessaryinacquiringtheassetplustherelevanttaxesandfeesaswellasanyothercostnecessarytomaketheassetbereadytouse.Thefollowingexpensesarenotincludedintheinitialcostoftheintangibleasset:(1)theadvertisingcosts,administrativecostsandotherindirectcostsforpromotingnewproducts;(2)thecostsincurredaftertheintangibleassetisreadytouse.2.CostdeterminationofintangibleassetsinvestedbyinvestorsIfanenterpriseneedssomeintangibleassetsforproduction,operationandmanagement,investorscaninvestsomeintangibleassetsintotheenterpriseandgetsomeequityoftheenterpriseasanexchange.Thecostofanintangibleassetinvestedisthevalueinthecontractoragreementunderthepremisethatthevalueinthecontractoragreementisfair.Ifnot,thecostoftheinvestedintangibleassetisitsfairvalue.3.CostdeterminationofintangibleassetsacquiredbyexchangeThedollaramountofthetradedassetisitsfairmarketvalue.Thecostamountofthenewassetisthefairvalueofthetradedassetplusrelevanttaxesandfees.Amortizationmeanstowriteoffthecostofintangibleassetoveritsusefullife.TheusualjournalentryforamortizationistodebitamortizationexpenseaccountandcreditAccumulatedAmortizationaccount.5.2.4Post-acquisitionMeasurement(1)Availableinformationfortheusefullifeofthesimilarasset.(2)Thepresentsituationoftechnology,processesandtheestimationoffuturedevelopmenttrends.(3)Marketdemandforproductsorservicesprovidedbytheasset.(4)Expectedactionstakenbypresentorpotentialcompetitors.(5)Expectedexpenditurestomaintaintheabilityoffutureeconomicbenefitsofintangibleassetandtheexpectedabilityofpayingtheseexpenditures.(6)Controlperiod,legalorsimilarrestrictionsoftheintangibleasset.(7)Associationwiththelifeofotherassetsheldbytheenterprise.Detailedfactorsthatshouldbeconsideredwhenestimatingtheusefullifeareasfollow1.SellingofintangibleassetsWhenanenterprisesellsanintangibleasset,theaccumulatedamortizationandprovisionforimpairmentofintangibleassetsshouldbetransferred,anditsprofitorlossshouldberecordedinthenon-operatingincomeornon-operatingexpenseaccount.2.RentalofIntangibleAssetsWhenanenterpriserentsanintangibleassettoothers,theusualjournalentriesconsistofadebittocashorbankdeposit,acredittootheroperatingincome,andadebittootheroperatingcost,acredittoAccumulatedAmortizationaccount.3.ScrapofIntangibleAssetsIfanintangibleassetfailstobringeconomicbenefitstotheenterpriseanymore,itshouldbetransferred.Thenetbookvalueoftheintangibleassetshouldbetransfertothenon-operatingexpenseaccount.5.2.5DisposalsofIntangibleAssets5.3.1PurposesofInvestmentinSecuritiesEnterprisesmakeinvestmentsinsecuritiesforlotsofreasons.1.ToUtilizeidleCashMoreEfficiently2.ToGenerateHigherReturns3.ToAchieveStrategicTargets5.3InvestmentsinSecuritiesSecuritiesEquitysecuritiesrepresentanownershipinterestinanenterprisesuchascommonstockandpreferredstock.Debtsecuritiesrepresentacreditorrelationshipwithafirmorgovernmentagency.5.3.2TypesofInvestmentinSecuritiesInvestmentinTradingsecuritiesboughtandheldprimarilyforresaleintheshorttermtogenerateincomeonshort-termpricechangesInvestmentinHeld-to-maturitysecuritiesdebtsecuritieswithfixedordeterminablepaymentsandfixedmaturitythataninvestorhastheintentandabilitytoholdtomaturity.InvestmentinAvailable-for-salesecuritiesdebtandequitysecuritiesthatarenotclassifiedastradingsecuritiesorheld-to-maturitysecuritiesLong-terminvestmentinequitysecuritiesWhenaninvestorcanexertsignificantinfluenceonorcontroltheinvesteecompany,theequitymethodshouldbeused.Thecostmethodisusedwhenaninvestorcancontroltheinvestee.intangibleassets無形資產(chǎn)directmaterials直接材料directlabor直接人工variableoverhead變動(dòng)制造費(fèi)用fixedoverhead固定制造費(fèi)用constructioninprocess在建工程originalvalue原值netresidualvalue凈殘值straight-linemethod直線折舊法unitsofproductionmethod產(chǎn)量法decliningbalancemethod余額遞減法sum-of-years-digitsmethod年數(shù)總和法Keyterminologiesdisposaloffixedassets固定資產(chǎn)處置patentforinvention發(fā)明專利patentofutilitymodel實(shí)用新型專利patentforexteriordesign外觀設(shè)計(jì)專利accumulatedamortization累計(jì)攤銷provisionforimpairmentofintangibleassets無形資產(chǎn)減值準(zhǔn)備investmentreturn投資回報(bào)significantinfluence重大影響equitysecurities權(quán)益性證券debtsecurities債權(quán)性證券commonstock普通股tradingsecurities交易性證券held-to-maturitysecurities持有至到期投資available-for-salesecurities可供出售金融資產(chǎn)long-terminvestmentinequitysecurities長(zhǎng)期股權(quán)投資gainsorlossesfromchangesoffairsvalue公允價(jià)值變動(dòng)損益post-amortizationcosts攤余成本equitymethod權(quán)益法costmethod成本法會(huì)計(jì)專業(yè)英語Chapter6Liabilities6.1.1DefinitionofCurrentLiabilitiesCurrentliabilitiesarethoseobligationsthatarereasonablyexpectedtobepaidbyusingcurrentassetsorbycreatingothercurrentliabilities.Currentliabilitiescanbeaccountspayable,short-termnotespayable,unearnedrevenue,short-termborrowings,accruedliabilities,dividendspayable,thecurrentportionoflong-termdebt,andsoon..6.1CurrentLiabilitiesAccountspayableusuallyreferstotheamountdueforthepurchaseofmaterialsbyamanufacturingcompanyormerchandisesbyamerchandisingcompany.Accountspayableareusuallynotrecordedwhenpurchaseordersareplaced,butwhenlegalrighttothegoodspassestothebuyer.Ifgoodsareintransitattheyearend,thepurchasealsoshouldberecordediftheshipmenttermsindicatethattheownershipofgoodshasbeenpassed.6.1.2AccountsPayableShort-termnotespayableareobligationsintheformofwrittenpromissorynotes.Short-termnotespayablemaybeeitherinterest-bearingornon-interest-bearing.Intheory,short-termnotespayableshouldberecordedatthepresentvalueofthecashoutflowsassociatedwiththenote.6.1.3Short-termNotesPayableShort-termnotespayableareobligationsintheformofwrittenpromissorynotes.Short-termnotespayablemaybeeitherinterest-bearingornon-interest-bearing.Intheory,short-termnotespayableshouldberecordedatthepresentvalueofthecashoutflowsassociatedwiththenote.6.1.4UnearnedRevenueShort-termborrowingsusuallyarisefromcashborrowingsandaregenerallypayabletobanksorloancompanies.ItisfromfinancingactivityItsrepaymentperiodisusuallybetweenthirtydaystooneyear.Atthematuritydate,theborrowingcompanyrepaystheprincipalaswellastheinterestsubordinatedtotheprincipal.6.1.5Short-termBorrowingsAccruedliabilitiesarisefromtherecognitionofexpensestobepaidinafutureperiod.Itisalsocalledaccruedexpenses.Examplesofaccruedliabilitiesincludetaxespayable,interestpayable,andemployeecompensationpayable.6.1.6AccruedLiabilities1.TaxesPayableShowtheamountthattheentityowesgovernmentofficesfortaxes.2.InterestPayableCostofborrowingandincreaseswiththepassageoftime.3.EmployeeCompensationPayableEverybusinessincursanumberofaccruedliabilitiesrelatingtopayroll.Thelargestoftheseliabilitiesistheobligationtopayemployeesfortheirservicesrenderedduringtheperiod.Dividendpayableisaliabilitythatiscreatedwhentheboardofdirectorsofacorporationdeclarestopaydividendstoitsstockholders.Itislistedasacurrentliabilitybecausedividendsareusuallypaidwithinseveralweeksofdeclaration.6.1.7DividendPayableSomelong-termdebtarepayableinaseriesofmonthlyorquarterlyinstallments.Inthesecases,thelong-termdebtwillbefirstlylistedasoneofthenon-currentliabilitiesinthebalancesheetwhenitincurs.Thenasitsmaturitydateapproaches,theportionduewithinoneyearoroneoperatingcyclewillbelistedasacurrentliability,andtheremainderofitwillstillbeanon-currentliability.6.1.8CurrentPortionofLong-termObligationNon-currentliabilities,alsocalledLong-termliabilities,areliabilitieswithafuturebenefitandwillbematureinoveroneyear.Inaccounting,thelong-termliabilitiesareshownontherightsideofthebalance-sheetrepresentingthesourcesoflong-termfunds.Examplesofnon-currentliabilitiesarelong-termborrowings,bondspayable,long-termnotespayable,pensionplanandothernon-currentliabilities.6.2Non-CurrentLiabilitiesLong-termborrowingsaregenerallypayabletobanksorloancompanies,butitsrepaymentperiodislongerthanoneyearoroneoperatingcycle.Itisalsorelatedtothefinancingactivityincashflowstatement.6.2.1Long-TermBorrowingsTheissuanceofbondspayableistheequivalentofsplittingalargeloanintoagreatmanyofunit,whichiscalledbond.Eachbondisessentiallyalong-terminterest-bearingnotepayable.Therearemanydifferenttypesofbonds,suchasmortgagebonds,debenturebonds,convertiblebonds,callablebonds,registeredbonds,couponbonds,etc.6.2.2BondsPayableLong-termnotespayableissimilartoshort-termnotespayableexceptthatitsrepaymentperiodexceedsoneyearoroneoperatingcycle.Along-termnotemaybesecuredbyamortgagethatpledgetitletospecificassetstosecurethenote.6.2.3Long-TermNotesPayableApensionplanisacontractbetweenacompanyanditsemployeesunderwhichthecompanyagreestopayretirementbenefitstoeligibleemployees.Aspensionobligationaccrues,thecompanycouldrecordthembyadebittoPensionExpenseaccountandacredittocashaccount.Ifallrequiredpaymentsaremadepromptlytothepensionfundtrustee,noliabilityneedstoberepresentedinthefinancialstatements.6.2.4PensionPlansaccountspayable應(yīng)付賬款short-termborrowings短期借款currentportionoflong-termdebt長(zhǎng)期負(fù)債的當(dāng)期部分interestpayable應(yīng)付利息employeecompensationpayable應(yīng)付職工薪酬mortgageloans抵押借款long-termborrowings長(zhǎng)期借款bondspayable應(yīng)付債券pensionplan退休金計(jì)劃Keyterminologiesmortgagebond抵押債券debenturebond信用債券，無擔(dān)保債券convertiblebond可轉(zhuǎn)化債券callablebond可贖回債券registeredbond記名債券couponbond息票債券，不記名債券creditrating信用等級(jí)評(píng)定contractualinterestrate票面利率marketinterestrate市場(chǎng)利率會(huì)計(jì)專業(yè)英語Chapter7Owner’sEquityAbusinessentitycouldbesoleproprietorshippartnershipcorporation.7.1FormsofBusinessEntityAsoleproprietorship,alsoknownasasoletraderoraproprietorship,isatypeofbusinessentitythatisownedandranbyoneperson.Thereisnolegaldistinctionbetweenitsownerandthebusiness.7.1.1SoleProprietorshipAdvantagesofasoleproprietorship(1)Itiseasytocreate.Whencreateasoleproprietorship,thereisnoneedtonegotiatewithothersortobeagreedbythemandthereisnoneedoftoomuchregisteredcapitaleither.(2)Thefixedcosttomaintainasoleproprietorshipisrelativelylow.(3)Noneedtopaycorporateincometax.Disadvantagesofasoleproprietorship(1)Theownertakesunlimitedresponsibilityforallitslossesanddebtsandthenbearsabigrisk.(2)Theexistenceofasoleproprietorshipisinfluencedbythelifeofitsowner.(3)ItishardtogainalotofmoneyfordailyoperatingApartnershipisanarrangementwheretwoormoreparties,knownaspartners,agreetocooperatetoadvancetheirmutualinterests.Partnersinapartnershipmaybeindividuals,firms,profit-makingorganizations,schools,governmentofficesortheircombinations.Apartnershipmayissueandholdingequityorbegovernedonlybyacontract.Itcanbesubdividedintoordinarypartnershipandlimitedliabilitypartnership.7.1.2PartnershipAcorporationcanbedefinedasan“artificialperson”,whichisinvisible,intangibleandcreatedbylawwithanindependentlegalpersonalityandaperpetualexistence.Corporationisthemainformofmoderncompaniesanditstwotypicalsubcategoriesarelimitedliabilitycorporationsandincorporatedcorporations.7.1.3CorporationAdvantagesofcorporations(1)Limitedlegalliabilityforthecorporation.(2)Easytofinance.