會(huì)計(jì)英語第六章復(fù)習(xí)

1、chapter 6 non-current assets learning objectives after completing this chapter, you should be able to: 1. describe the nature of depreciation. 2. explain the factors that affect the determination of depreciation expense. 3. calculate the amount of depreciation by the straight-line method. 4. calcula

2、te the amount of depreciation by units-of-production methods. 5. calculate accelerated depreciation under the declining- balance method and the sum-of-the-years-digits method. special terms (1) depreciation (n.) 折舊折舊 (2) residual value (or salvage value) 殘值殘值 (3) straight-line method 直線法直線法 (4) the

3、units of production method 工作量法工作量法 (5) accelerated method 加速折舊法加速折舊法 (6) declining-balance method 余額遞減法余額遞減法 (7) sum-of-the-years-digits method 年年數(shù)總和法數(shù)總和法 (8) double declining-balance (ddb) method 雙倍余額遞減雙倍余額遞減 法法 (9) accumulated depreciation 累計(jì)折舊累計(jì)折舊 6.1 tangible assets and depreciation tangible as

4、sets are long-lived tangible assets acquired for continued use in carrying on the normal operations of the business and not intended for resale. land, buildings , machinerymin()r, equipment, furniture, tools, vehicles vik()l and natural resources. vthe primary phases of accounting for operational as

5、sets are: 1. measuring and recording the cost of the asset at acquisition date. 2. after acquisition, measuring the expense of using the asset during its useful life. 3. recording disposal of operational assets. acquisition date the cost of the asset is determined by the cash or cash-equivalent pric

6、e paid to acquire the asset. there may be many cost components incurred to acquire and prepare the asset for its intended use. purchase price freight costs fret 運(yùn)費(fèi)運(yùn)費(fèi) installation cost nstle()n 安裝成本安裝成本 of a productive asset. example p58 during its useful life after acquisition, tangible operational

7、assets decrease in economic utility to the user because of a number of causative factors, such as wear and tear 磨損磨損, the passage of time時(shí)光流逝時(shí)光流逝, obsolescence ,bslesns過時(shí)過時(shí), and technological changes技術(shù)進(jìn)步技術(shù)進(jìn)步. depreciation is the accounting process of allocating the periodic expiration of capital ass

8、ets against the periodic revenue earned. factors affecting depreciation factors that influence depreciation are cost of the asset; c estimated residual value (or salvage value); rv estimated service life; n or p depreciation rate; r dollar amount of depreciation per period. d depreciation methods 1.

9、 straight-line method 直線折舊法直線折舊法 the straight-line method of depreciation allocates equal amounts of the cost of an asset to each accounting period during its estimated life. this method is the most common method used to allocate the cost of property, plant and equipment among accounting periods bec

10、ause it is easy and simple to calculate. a typical example would be depreciation for a building or for office furniture. the depreciation is computed as follows: depreciation per year annual rate of depreciation yearsin life service valueresidual cost yearsinlifeservice 1 【example 1】stanley coal min

11、es recently purchased an additional crane【kren】吊車吊車 for digging purposes. pertinent data有關(guān)資料有關(guān)資料 concerning the purchase of the crane are: cost of crane $500,000 estimated useful life 5 years estimated residual value $50,000 under straight-line method, the depreciation expense for each year of the c

12、rane is calculated: ($500,000 $50,000) 5 years = $90,000 per year the entry to record this depreciation expense would be depreciation expense 90,000 accumulated depreciation 90,000 on the balance sheet, accumulated depreciation is deducted from the cost of property , plant, and equipment, and differ

13、ence, called the book value ( or property, plant, and equipment, net), is included in total assets. 2. units-of-production method 工作量法工作量法 the units-of-production method allocates the cost of an asset to usage rather than years. this method amortizes the cost of the asset over the estimated service

14、life as measured by estimated units of production, not by estimated years. if the use of the asset varies and the contribution to revenue differs from period to period, the units- of-production method may be appropriate. the depreciation per unit of production is determined as follows: depreciation

15、cost per unit = depreciation expense for period= depreciation cost per unit actual production amount during current period note that the straight-line method provides a constant不變的不變的 depreciation amount per year, but the units-of-production method provides a constant amount per unit of production.

16、【example 2】use the data provided in example 1, it is estimated that the productive life of the crane is about 30,000 hours. if the crane is used 4,000 hours the first year, the depreciation charge would be: ($500,000 $50,000) 4,000 30,000 =$60,000 3. accelerated methods accelerated methods charge hi

17、gher amounts of depreciation to the earlier years of an assets life. as an asset has greater economic benefit in the earlier years of its life than in the later years, depreciation should be allocated more in the early years of the assets life, the amount of depreciation charged period declines with

18、 time. two common methods for allocating depreciation on an accelerated basis are sum-of-the-years- digits method年數(shù)總和法年數(shù)總和法anddeclining-balance method雙倍余額遞減法雙倍余額遞減法 (1) sum-of-the-years-digits method (syd) it calculates depreciation expense by applying a rate to the assets depreciable amount. the ra

19、te is determined using the following formula: annual depreciation expense = (cost residual amount) syd rate syd rate= number of years of useful life at beginning of year/ the sum of the years digits 【example 4】use the data provided in example 1, under the sum-of-the-years-digits method, the deprecia

20、tion cost for each accounting period is shown below: depreciation depreciation accumulated net fraction expense depreciation book value year 1 5/15 $150,000 $150,000 $350,000 year 2 4/15 120,000 270,000 230,000 year 3 3/15 90,000 360,000 140,000 year 4 2/15 60,000 420,000 80,000 year 5 1/15 30,000 4

21、50,000 50,000 (2) declining-balance method the declining-balance method should be used for assets that are expected to benefit earlier periods of the assets useful life more than later periods. the most common version of the declining-balance method is the double declining-balance (ddb) method. the

22、ddb rate is twice the rate used for the straight-line method and is calculated as: ddb rate n = useful life in years depreciation expense is calculated as follows: depreciation expense = declining-balance rate book value n 2 book value represents the cost of the asset minus the accumulated depreciat

23、ion. it declines at a faster rate during the early years of the asset when using the double declining-balance method than it does using the straight-line method in each accounting period. it ignores estimated salvage when computing depreciation. the amount of depreciation calculated (twice the strai

24、ght-line rate book value) may have to be adjusted in the last two periods so as not to amortize the asset beyond its salvage value. 【example 3】use the data provided in example 1, under the double declining-balance method, the depreciation cost for each accounting period is shown below: depreciation

25、accumulated net expense depreciation book value year 1 $200,000 $200,000 $300,000 year 2 120,000 320,000 180,000 year 3 72,000 392,000 108,000 year 4 29,000* 421,000 79,000 year 5 29,000 450,000 50,000 ddb rate = 2/n = 2/5 = 40% *(108,000 50,000) 2=$29,000 exercises p178 3. a refrigerator冰箱冰箱 used b

26、y a meat processor加工加工 者者 has a cost of $113500, an estimated residual value of $5500, and an estimated useful life of 8 years. depreciation expense for period =( $113500-$5500 )/ 8 =$ 108000 / 8=$ 13500 depreciation expense 13500 accumulated depreciation 13500 4. (a) straight-line method depreciati

27、on expense for period =( $315,000- 0 ) / 20 =$ 15,750 year1: depreciation expense 15,750 accumulated depreciation 15,750 year2: depreciation expense 15,750 accumulated depreciation 15,750 (b) declining-balance method double declining-balance rate= 1/20 *2=0.1 year1 depreciation expense for period =(

28、 $315,000- 0 ) *0.1=$ 31,500 depreciation expense 31,500 accumulated depreciation 31,500 year2 depreciation expense for period =( $315,000- $ 31,500) *0.1=$ 283,500*0.1=$28,350 depreciation expense 28350 accumulated depreciation 28350 5. (a) straight-line method depreciation expense for period =( $7

29、5,200- $ 3200 ) / 8 =$ 9,000 year1: depreciation expense 9,000 accumulated depreciation 9,000 year2: depreciation expense 9,000 accumulated depreciation 9,000 (b) declining-balance method double declining-balance rate= 1/8 *2=0.25 year1 depreciation expense for period =($75,200- 0) *0.25=$ 18,800 de

30、preciation expense 18,800 accumulated depreciation 18,800 year2 depreciation expense for period =( $75,200- $ 18,800) *0.25=$ 56400*0.25=$14,100 depreciation expense 14,100 accumulated depreciation 14,100 6.2 intangible assets learning objectives: vafter completing this chapter, you should be able t

31、o: v1. identify various intangible assets v2. explain accounting for acquisition of intangible assets. v3. describe the procedures for amortization special terms (1) intangible assets 無形資產(chǎn)無形資產(chǎn) (2) patents (n.) 專利權(quán)專利權(quán) (3) copyrights (n.) 版權(quán)版權(quán) (4) research and development 研發(fā)研發(fā) (5) goodwill (n.) 商譽(yù)商譽(yù) (

32、6) trademarks (n.) 商標(biāo)商標(biāo) (7) franchises and licenses 經(jīng)營(yíng)權(quán)經(jīng)營(yíng)權(quán) (8) amortization (n.) 攤銷攤銷 (9) impairment test 減值測(cè)試減值測(cè)試 various intangible assets vintangible assets are assets that are used in the operation of the business but have no physical substance and are non-current. intangibles assets may fall in

33、to three categories: intangible assets with limited useful lives, intangible assets with indefinite useful lives special assets-goodwill. vpatents專利專利: granted by the government, convey the exclusive right 專用權(quán)專用權(quán) to use a product or process for a period of certain years. vpatents are intended to pro

34、mote innovation by ensuring the firm that discovers and applies new knowledge reaps the benefits 得到好處得到好處 of its efforts. v發(fā)明專利、實(shí)用新型專利和外觀設(shè)計(jì)專利；發(fā)明專利、實(shí)用新型專利和外觀設(shè)計(jì)專利； vcopyrights版權(quán)版權(quán): granted by the federal government, convey the exclusive right to use artistic or literary works 藝術(shù)及文學(xué)作品藝術(shù)及文學(xué)作品for a perio

35、d of certain years beyond the authors death. common examples of works that can be copyrighted include books, songs, and movies. v指文學(xué)、藝術(shù)、科學(xué)作品的作者對(duì)其作品享有的指文學(xué)、藝術(shù)、科學(xué)作品的作者對(duì)其作品享有的 權(quán)利權(quán)利. v50 years vfranchises and licenses特許經(jīng)營(yíng)權(quán)和許可證特許經(jīng)營(yíng)權(quán)和許可證: are rights to market a particular product or service or to engage in

36、 a particular activity. for example, pizza hut sells franchises to various individuals and businesses. a franchise permits the holder to operate a pizza hut restaurant at a specified location. this right has economic value to the holder and would be reflected as an asset. as another example, some ph

37、armaceutical companies醫(yī)藥公司 acquire the right to sell the products of other companies. this right also has value and would be shown as an asset. 高速公路收費(fèi)權(quán) acquisition of intangible assets vintangible asset may be acquired from others or by the companys own research and development. if purchased externa

38、lly, intangible assets should be initially recorded at their historical cost. the cost includes the acquisition cost (purchase price) and any legal fees. va company acquires a patent for $500,000, the entry to record this transaction would be: vdr. patent. . 500,000 v cr. cash . . . . . . . . .500,0

39、00 amortization of intangible assets vintangible assets with limited useful lives such as patents are usually converted to expenses over a number of accounting periods. the systematic allocation of the costs of these assets to the periods in which they provide benefits is called amortization攤銷攤銷. vt

40、he amortization of limited-useful-life intangible assets is essentially the same process as the depreciation of tangible assets. it also needs to consider the useful life of assets and amortization method. goodwill 商譽(yù)商譽(yù) v the amount by which the purchase price exceeds the fair value of the net asset

41、s is recorded as an asset of the acquiring company. although sometimes reported on the balance sheet with a descriptive title such as excess of acquisition cost over net assets acquired, the amount is customarily called goodwill. vit is important to note that goodwill arises only as part of a purcha

42、se transaction. the buying company may be willing to pay more than the fair value of the acquired net assets other than goodwill because the acquired company has a strong management team, a favorable reputation in the marketplace, superior production methods, or other unidentifiable intangibles. v 【

43、example 2】company a acquires all the assets of company b, giving company b $1,500,000 cash. company b has cash of $50,000, accounts receivable that are believed , to have a realizable value of $60,000, and other acquired assets other than goodwill that are estimated to have a fair value of$i,100,000

44、. so the amount of goodwill is calculated as follows: total purchase price $1,500,000 less: cash acquired 50,000 accounts receivable 60,000 other acquired assets (estimated) 1,100,000 1,210,000 goodwill $ 290,000 . long-term investment vone corporation may invest in another corporation by acquiring

45、either debt securities or equity securities of other corporation. vinvestment purpose： 1、earn a return from idle cash閑置資金閑置資金; 2、obtain influence or control over other corporation. vshort-term investments： 1.ready marketability； 2.management intention to convert cash in the short run. vlong-term inv

46、estments： those not meeting these two tests above. accounting for stock investments accounting for debt investments long-term investment accounting for stock investments the accounting for investments in common stock depends on the extent of the investors influence over the operating and financial a

47、ffairs of the issuing corporation (investee). the general guidelines for stock investments are: accounting for stock investments less than 20% v companies record common stock investments of less than 20% when they purchase the stock, receive dividends, and sell the stock. companies record the receip

48、t of dividends with a debit to cash and a credit to dividend revenue. when a company sells a stock investment, it recognizes as a gain or a loss the difference between the net proceeds from the sale (sales price less brokerage fees) and the cost of the investment. example（p66） between 20% and 50% wh