financialandmanagerialaccounting(7)

信息管理与信息系统专业教材1高等数学高等数学是大家进入大学遇到的第一门数学类课程，该课程与高中数学相比，在难度上有较大层次上的提高，所以入学同学一不小心就落下了，并且对它产生了畏惧感，希望大学新生能克服这样的畏惧感，勇敢的解决高数问题，因为后面还要学好多数学类的基础课程，虽然对就业没有多大的帮助，但是对大学成绩影响较大，希望重视，尤其打算考研的朋友们。

我个人认为高数的学习方法就是一般理工科的学习方法，大家在高中如何学好数学，物理，化学的，就按照类似的办法去学习高数就行了，简言之，就是多做题，多总结题的类型就好了。

推荐教材：《高等数学（第五版）》-同济大学出版参考书目：《高等数学习题全解指南》高等教育出版社（同济·四、五版）介绍：此书好比是高等数学教材的官方参考书，主要是以讲解教材上的例题和课后习题为主，出错率比较低，是一本基础型教参。

《高等数学全真课堂上下册合订本》学苑出版社出版《高等数学教与学参考》西北工业大学出版社以上两本教材均适合基础和提高型的学习，其中贯穿了往年的考研试题，使得想考研的同学可以早做准备，并且由于多以考研题或变形题为主，所以出错率和试题的严密科学性比较强，不会误导学生。

2线性代数线性代数是一门较特殊的课程，其中贯穿的数学思想方法和高等数学有些差别，同高中数学可以说是一点关系都没有，所以大家会感觉有些生疏，其实还是多做题多总结就是了，还有就是千万不能开始就懈怠，否则后期考试复习的时候比较难补上推荐教材：《工程数学-线性代数同济大学数学教研室编著》高等教育出版社参考书目《最新线性代数教与学参考》中国致公出版社我只用过这一种，感觉还行，同样适用于基础和提高的同学使用。

习题丰富，讲解精炼。

3 C语言C 语言本身的重要性不能说是很大，但是对于初入大学的大部分学生来说，第一次接触的编程语言应该就是C语言了，所以学好C语言的作用应该在于认识编程语言的共性，总结编程语言的思想和方法，打好学习编程语言的基础是更重要的。

国际会计第七版英文版课后答案（第七章）预览说明:预览图片所展示的格式为文档的源格式展示,下载源文件没有水印,内容可编辑和复制Chapter 7Financial Reporting and Changing PricesDiscussion Questions Solutions1.Historical-based financial statements may be misleading during periods of significant inflation.Many resources may have been acquired in periods when the purchasing power of the monetary unit was much higher. These expenses then typically are deducted from revenues that reflect current purchasing power. The resulting income number is unintelligible. Another problem for statement readers is that the value of assets recorded at their historical acquisition cost is typically understated as a result of inflation. Understated asset values produce understated expenses and overstated earnings.Financial trends are also difficult to interpret, as trend statistics generally include monetary units of different purchasing power. A positive trend in sales may be due to price changes, not real increases in sales.2. A price index is a cost ratio, that is, the ratio of a representative “basket” of goods and servicesconsumed by an average family, compared to the price of that same basket in a benchmark (“base”) year. The price index is invaluable in enabling a statement reader to translate sums of money paid in the past to their current purchasing power equivalents.3.This statement is partly true and shows the confusion thatsurrounds inflation accounting. Inaccounting for changing prices, users must distinguish between general price changes and specific price changes. General prices refer to the prices of all goods and services in the economy. The object of accounting for general price level changes is to preserve the general purchasing power of a company’s money capital. Specific price changes refer to changes in the prices of specific commodities. The object of accounting for specific price changes is to preserve a company’s productive capacity or operating capability.4.The congressman is wrong. The object of inflation accounting is to clarify the distinction betweencapital and income, not to minimize corporate taxes. Inflation accounting shows how much money the company can pay in expenses, taxes, and dividends, while keeping enough resources to maintain its capital.5.Although it is generally conceded in principle that price level-adjusted financial statements are moreuseful than conventional accounting statements during periods of significant inflation, it is a judgment call to identify exactly when price level-adjusted statements become more meaningful. Asa rule of thumb, executives in Brazil use an inflation rate greater than 10 % per month. Investors inGermany or Switzerland may believe that 5 % inflation per year is alarming. Unfortunately, no one has yet developed a formal, rigorous, easy-to-apply definition of meaningfulness.How does one determine whether the benefits of price level-adjusted accounting information exceed the costs? While the costs to generate such information can be measured, it is muchharder to quantify the benefits. Financial accounting deals with information produced by business enterprises for use by external decision makers. Consequently, measurement of the benefits of price level-adjusted information must cover all user groups in an economy. Multiple user groups, uneven distributions of benefits (both within and between groups), and favorable economy-wide spillover effects of price level information complicate the task. Adding international dimensions makes the problem even worse.6.The U.S. approach resembles the price-level adjusted current cost model, whereas the U.K.approach embraces the current cost model. While both require disclosure of the impact ofchanging prices on monetary items, the U.S. approach basically uses the general price level index to compute monetary gains and losses, whereas the U.K. employs specific prices changes by way of its gearing adjustment.1.The International Accounting Standards Board sanctions use of the general price level model orthe current cost framework. Whichever method is employed, these inflation adjustments must be expressed in terms of constant purchasing power as of the balance sheet date. Purchasing powergains or losses are to be included in current income. Firms adjusting their accounts for changingprices must disclose, at a minimum: a) the fact that end-of-period purchasing power adjustmentshave been made, b) the asset valuation framework employed in the primary financial statements,c) the type of inflation index or indexes employed and theirlevel at the end of the period as wellas their movements during the period, and d) the net purchasing power gain or loss on netmonetary items held during the period. Given the options that are available, analysts mustunderstand the differences between the approved inflation accounting methods to be able tocompare companies choosing one option over the other and to assure proper interpretation ofinflation adjusted amounts.2.The historical cost-constant dollar model measures the impact of general price level changes on afirm's reported performance and financial position. The current cost model examines the impact of specific price changes on enterprise income and wealth.The two measurement frameworks are similar in that both attempt to clarify the distinction between capital and income. They differ in reporting objectives. Whereas the historical cost/constant dollar model attempts to preserve the general purchasing power of a firm's original money capital, the current cost model attempts to preserve an entity's physical capital or productive capacity.3.Your authors think that restating foreign and domestic accounts to their current cost equivalentsproduces information that is far more helpful to investor decisions than historical cost methods, whether or not adjusted for changes in general price levels. Such information provides a performance measure that signals the maximum amount of resources that enterprises can distribute without reducing their productive capacity. It also facilitates comparisons ofconsolidated data.10. The gearing adjustment is an inflation adjustment that partially offsets the additional charges toincome associated with assets whose values are restated for inflation (e.g., higher depreciation and cost of sales). This adjustment recognizes that borrowers generally gain from inflation because they can repay their debts with currency of reduced purchasing power. Hence, it is unnecessary to recognize the higher replacement cost of inventory and plant and equipment in the income statement so far as they are financed by debt.11. Accounting for foreign inflation differs from accounting for domestic inflation in two major ways.First, foreign rates of inflation often are higher than domestic rates, which increases potential distortions in an entity's reported results from changing prices. Second, as foreign exchange rates and differential national rates of inflation are seldom perfectly negatively correlated, care must be taken to avoid double-dipping when consolidating the results of foreign operations.12.Double-dipping refers to methods that count the effects of foreign inflation twice in reportedearnings. Earnings are reduced once when cost of sales is adjusted upwards for inflation, andagain when inventories are translated to domestic currency using a current exchange rate, whichyields a translation loss. Since the change in the exchange rate itself was caused by inflation, the result is a double charge for inflation.Exercise Solutions1.This exercise is a good way to test students’ understanding of the various approaches toaccounting for changin g prices. Vestel’s earnings numbers are based on the general price levelmodel whereas Infosys is measuring its performance based on a current cost framework. Modello goes a step further and adjusts its current cost statements for changes in the general price level.Some may feel that current cost data, which is based on the notion of replacement costs, is toosubjective a notion to be reliable. Since general price level data are based on general price level indices, the numbers appearing in Vestel’s income statement are much more objective andfacilitates comparisons among companies using a similar methodology. Moreover, Vestel’sstatements do not violate the historical cost doctrine. Others will argue that the value of stockinvestments are based on discounted future cash flows. Accordingly, the current cost framework provided by Infosys is more germane to investor decisions as it measures the amount of earnings that could be distributed as dividends without reducing the firm’s future dividend gen eratingpotential. Moreover, current cost earnings, including the gearing adjustment , reflects how thefirm is impacted by prices that are more germane to the firm, as opposed to the general public.Some will argue that Modello’s income statement combin es the best of both worlds. However,there is merit to the argument that the income statementshould measure the performance of thefirm and that this is best accomplished with the current cost framework. Since individualinvestors are affected by the g eneral price level, they should adjust their share of a firm’s current cost earnings distributions for general inflation.2. a.Income Statement Historical Price Level Historical Cost-Cost Adjustment Constant Dollar Revenue MXP 144,000,000 420/340 MXP 177,882,353 Operating expenses (86,400,000) 420/340 (106,729,412) Depreciation (36,000,000) 420/263 (57,490,494)Operating income MXP 21,600,000 MXP 13,662,447a Monetary gains(losses) - (73,248,759)Net income MXP 53,280,000 MXP(59,586,312)Balance SheetCash MX(P 157,600,000 420/420 MXP 157,600,000Land 180,000,000 420/263 287,452,471Building 720,000,000 420/263 1,149,809,885Acc. Depreciation (36,000,000) 420/263 (57,490,494)Total MXP 1,021,600,000 MXP 1,537,371,862Owners' equity(beg.) MXP1,000,000,000 rolled forward b MXP 1,596,958,174Net income (loss) 21,600,000 (59,586,312)Owner's equity MXP 1,021,600,000 MXP 1,537,371,862(end)a Monetary loss:CashBeginning balance 1,000,000,000 420/263 1,596,958,174 Purchase ofreal estate ( 900,000,000) 420/263 (1,437,262,356)Rental revenues 144,000,000 420/340 177,882,353Operating expenses (86,400,000) 420/340 106,729,412)157,600,000 230,848,759-157,600,000 Monetary loss (73,248,759)b Beginning equity x price level adjustment = adjusted amount= P 1,000,000,000 x 420/263 = P 1,596,958,1742.b.Cost HC/Constant DollarReturn on Assets 21,600,000 (59,586,312)1,021,600,000 1,537,371,862= 2.1% = -3.9%Cost-based profitability ratios tend to provide a distorted (overstated) picture of a company's operating performance during a period of inflation.3.20X7 20X8Cash MJR 2,500 MJR 5,100Current liabilities (1,000) (1,200)LT-Debt (3,000) (4,000)Net monetary liabilities MJR (1,500) MJR (100)Zonolia Enterprise’s net monetary liability position changed by MJR1,400 during the year (MJR100) –(MJR1,500).4.Nominal Restate for ConstantMJR’s Majikstan GPL MJR’sNet monetary liab.'s MJR 1,500 x 32,900/30,000 = MJR1,645 12/31/X7Decrease during year (1,400) = (1,400)Net monetary liab.'s MJR 100 x 32,900/36,000 = MJR 9112/31/X8Monetary (general purchasing power) gain MJR 1545. Historical Current Cost Current Income Statement Cost Adjustment Cost Revenues MXP 144,000,000 - MXP 144,000,000 Operating expenses 86,400,000 - 86,400,000 Depreciation (36,000.000) 1.8 64,800,000 Net Income (loss) MXP 21,600,000 MXP (7,200,000)Balance SheetCash MXP 157,600,000 - P 157,600,000 Land 180,000,000 1.9 342,000,000 Building 720,000,000 1.8 1,296,000,000 Acc. Depreciation (36,000,000) 1.8 (64,800,000) Total MXP1,021,600,000 MXP 1,730,800,000 Owners' Equity Beg. Balance MXP1,000,000,000 MXP 1,000,000,000 OE revaluation a - 738,000,000Net income (loss) 21,600,000 (7,200,000) Total MXP1,021,600,000 MXP 1,730,800,000a Revaluation of land MXP 162,000,000Revaluation of building 576,000,000MXP 738,000,0006. Solution in 000,000's:MJR8,000 X 137.5/100.0 = MJR11,00020X7 20X8Current cost MJR8,000 MJR11,000Acc. depreciation (1,600) (3,300)aNet current cost MJR6,400 MJR7,700a Current cost depreciation = MJR800 X 137.5/100.0 = 1,100per year for 3 years.7. As no new assets were acquired during the year, we must determine to what extent the MJR3,000 increase in the current cost of Zonolia's equipment exceeded the change in the general price level during the year. The appropriate calculation follows: MJR11,000 - [MJR8,000 X 36,000/30,000]= MJR11,000 - MJR9,600= MJR1,400Alternatively, if we follow the FASB’s sug gested methodology, where calculations are expressed in average (20X8) dollars, current cost depreciation would be computed by reference to the average current cost of the related assets. Thus, Current cost, 12/31/X7 MJR8,000,000Current cost, 12/31/X8 11,000,000MJR19,000,000Average current cost MJR19,000,000/2 = MJR9,500,000Current cost depreciation at 10% = MJR950,000Increase in current cost of equipment, net of inflation (000's): Current Restate for Current cost/Cost Inflation Constant Zonos Current cost, net12/31/X7 MJR6,400 X 32,900/30,000 MJR7,019Depreciation (950) (950)Current cost, net12/31/X8 7,700 X 32,900/36,000 7,037MJR 2,250 MJR968The increase in the current cost of equipment, net of inflation is MJR968. The difference between the nominal renge amount (MJR2,250) and constant renges (MJR968) is the inflation component of the equipment's current cost increase.8. Restate-translate method:Constant Translate $ Equivalentsrenges of constantrengesIncrease in currentcost of equip., netof inflation MJR968,000 X 1/4,800 = $202Translate-restate method:CC (MJR) Translate CC ($) Restate CC/ Constant $U.S. GPLCC, net MJR 6,400,000 x 1/4,800 = $1,333 x 292.5/281.5 = $1,38512/31/X7Dep. (950,000) x 1/4,800 = (198) = (198)CC, net 7,700,000 x 1/4,800 = 1,604 x 292.5/303.5 = 1,54612/31/X8MJR 2,250,000 $ 469 $ 3599.20X7 20X8￡m ￡mTrade receivables 242 270-Trade payables (170) (160)Net monetary working capital 72 110Change in monetary working capital = ￡38 (￡110 - ￡72) Nominal Restate for Constant￡British PPI ￡Net monetary W/C 72 X 110/100 = 79.212/31/20X7Increase during year 38 = 38.0Net monetary W/C 110 X 110/120 = 100.812/31/20X8Monetary working capital adjustment = (16.4)aa This amount is added to the current cost adjustments for depreciation and cost of sales because trade receivables exceeded trade payables, thus tying up working capital in an asset that lost purchasing power.Gearing adjustment:[(TL – CA)/(FA + I + MWC)] [CC Dep. Adj. + CC Sales Adj. + MWCA]where TL = total liabilities other than trade payablesCA = current assets other than trade receivables and inventoryFA = fixed assets including investmentsI = inventoryMWC = monetary working capitalCC Dep. Adj. = current cost depreciation adjustmentCC Sales adj. = current cost of sales adjustmentMWCA = monetary working capital adjustment= [(128 – 75)/(479 + 220 + 110] [￡m 216]= [.066 ] [216]= ￡14.3The only number I could readily identify in problem 9 is inventory of 220. The next number I could come close on is fixed assets. Looks like the solution above says 479, the text for 08 indicates 473. I could not see where the 110 (MWC) came from. Neither is it clear where the other 3 items in brackets came from. The solution needs to be clearer before I can check the numbers.This gearing adjustment of ￡14.3 million is subtracted from the current cost of sales and depreciation adjustments. It represents the purchasing power gain from using debt to finance part of the firm's operating assets.a.Nominal Thai Historical Translation U.S.baht inflation c ost/constant rate dollaradjustment baht equivalentInven-tory BHT500,000 x 100/200 = BHT250,000 x .02 = $5,000b.Nominal Translation U.S. U.S. Historicalbaht rate dollar inflation c ost/constantequivalent adjustment dollarsInven-tory BHT500,000 x .02 = 10,000 x 180/198 = $9,090Sorry this seems confusing compared to number 2 where the year end index was in the numerator and either the beginning or average index was in the denominator (e.g. 420/340 or 420/263). It is not clear why we do the opposite here where the Thai price level doubles and we put the 200 in the denominator and 100 in the numerator.c. Most students will prefer the restate-translate method. This approach has merit if general and specific pricelevels move in tandem. If not, neither approach is satisfactory as both are based on a historical cost valuation framework that is generally irrelevant for investment decisions.d. For reasons enumerated in this chapter, we favor restating local currency assets for specific price changesand then translating these current cost equivalents to dollars using the current exchange rate.11. We assume that Doosan Enterprises translates its inventory at the current rate and adjusts its cost ofsales for inflation by simulating what it would have been ona LIFO basis. Two adjustments are necessarybecause local inflation impacts exchange rates used to translate foreign currency inventory balances to dollars.With FIFO inventories, a translation loss is recorded in "as reported" earnings when it is originally translatedto U.S. dollars by a current exchange rate that changed (devalued) during the period. This translation loss isan indirect charge for local inflation. The inflation adjustment (simulated LIFO charge) to increase "as reported" cost of sales to a current cost basis is an additional charge for inflation. Absent some offsettingentry, consolidated results would be charged twice for inflation. To avoid this double charge, the translation loss embodied in reported earnings is deducted from the simulated LIFO charge to arrive at a net U.S. dollarcurrent cost of sales adjustment. Steps in the adjustment process are as follows:1. FIFO inventory subject to simulated LIFO charge KRW10,920,0002. Restate line 1 to January 1 currency units(KRW10,920,000 x 100/120). The result is anapproximation of December 31 LIFO inventory KRW9,100,0003. Difference between FIFO and LIFO inventorybalances (line 1 minus line 2) is the additionallira LIFO expense (current cost adjustment)for the current year. KRW1,820,0004. Translate line 3 to dollars at the January 1exchange rate (KRW1,820,000 ÷ 900). The resultis the additional dollar LIFO expense for thecurrent year $ 2,0225. Calculate the translation loss on FIFO inventory(line 1) that has already been reflected in "asreported" results:a. Translate line 1 at Januaryexchange rate (KRW10,920,000 ÷ KRW900) $ 12,133b. Translate line 1 at December 31exchange rate (L 10,920,000 ÷ KRW1,170) $ 9,333c. The difference is the translationloss in “as reported” results $ (2,800)6. The difference between lines 4 and 5c isthe cost of sales adjustment in dollars:a. Additional dollar LIFO expense fromline 4. $ 2,022b. Less: Inventory translation loss alreadyreflected in "as reported” results (fromline 5c) $ (2,800)c. The difference is the net dollar currentcost of sales adjustment $ (778)Here, the current cost of sales adjustment is negative (i.e., reduces the dollar cost of sales adjustment). This is because the won devalued by more than the differential inflation rate (assuming a U.S. inflation rate close to zero). If the lira devalued by less than the differential inflation rate, the cost of sales adjustment would have been positive.12.1. Cost of fixed assets at 12/31 EUR20,0002. FIFO inventory at 12/31 EUR 8,0003. Total EUR28,0004. Less: Owners' equity at 12/31 EUR 2,0005. Liabilities used to financefixed assets and inventory EUR26,0006. Restate liabilities to beginningof period markka (EUR26,000 X300/390) EUR20,0007. Purchasing power gain EUR 6,0008. Purchasing power gain inpounds (EUR 6,000/EUR 1.5) ￡4,0009. Translation gain on appliedliabilities(EUR 26,000/EUR 1.5 -EUR26,000/EUR1.95) ￡4,00010. Net purchasing power gain ￡ -0-In this case the translation gain on liabilities used to finance nonmonetary assets equals the purchasing power gain because the currency devaluation matched the differential inflation of 30%. Hence, no purchasing power gains would be recognized.Case 7-1 SolutionCase 7.1 Kashmir Enterprises1.a–cHistorical Price Level HistoricalCost Adjustment Cost ConstantIncome Statement RupeesRevenues INR6,000,000 160/144 I NR6,666,667Cost of Sales 2,560,000 160/128 3,200,000Selling & Admin. 1,200,000 160/144 1,333,333Depreciation 160,000 160/128 200,000Interest 240,000 160/160 240,000Monetary gains (losses)a - 741,666Net Income INR1,840,000 INR2,435,000Balance SheetCash INR2,480,000 160/160 I NR2,480,000 Inventory 480,000 160/128 600,000Building 3,200,000 160/128 4,000,000Accu. depreciation (160,000) 160/128 (200,000) Total INR6,000,000 INR6,880,000Accounts payable INR 620,000 160/160 I NR 620,000 Notes payable 2,400,000 160/160 2,400,000 Owners' equity 2,980,000 3,860,000INR 6,000,000 INR6,880,000a Monetary gains/(losses):CashBeg. balance INR 720,000 160/128 INR1,150,000 Down payment (800,000) 160/128 (1,000,000) Sales 6,000,000 160/144 6,666,667Selling & Adm. exp. (1,200,000) 160/144 (1,333,333) Payment on account (2,200,000) 160/144 (2,444,444) Interest (240,000) 160/160 (240,000)INR 2,480,000 INR2,798,890-2,480,000Monetary loss INR (318,890)a Monetary gains and losses:Accounts PayableBeg. balance INR 420,000 160/128 INR525,000 Purchases 2,400,000 160/128 3,000,000Payments on account (2,200,000) 160/144 (2,444,444) INR 620,000 INR1,080,556- 620,000Monetary gain INR 460,556a Monetary gains/(losses):Notes PayablePurchase warehouse INR 2,400,000 160/128 INR 3,000,000 - 2,400,000Monetary gain INR 600,000Net monetary loss: INR(318,890) + INR460,556 + INR600,000 = INR741,666.Current Cost Financial StatementsHistorical Adjustment Current Cost Income Statement Cost F actor EquivalentsRevenues INR6,000,000 - INR 6,000,000Cost of Sales 2,560,000 1.3 3,328,000Selling and adm. 1,200,000 - 1,200,000Depreciation 160,000 1.4 224,000Interest 240,000 - 240,000Net Income INR 1,840,000 INR1,008,000Balance SheetCash INR 2,480,000 - INR 2,480,000Inventory 480,000 1.3 624,000Building 3,200,000 1.4 4,480,000Acc. depreciation 160,000 1.4 224,000Total INR 6,000,000 INR 7,360,000Accounts payable INR 620,000 - INR 620,000Notes payable 2,400,000 - 2,400,000Owners' equity 2,980,000 4,340,000INR 6,000,000 INR 7,360,0002. Your authors favor current cost over historical or historical cost/constant dollar financial statements. Finance theory states that investors are interested in a firm's dividend-generating potential, as the value of their investment depends on future cash flows. A firm's dividend-generating potential, in turn, is directly related to its productive capacity. Unless a firm preserves itsproductive capacity or physical capital(e.g.,plant, equipment, inventories), dividends can’t be sustained over time. Under these circumstances, current cost financial statements give investors information important to their decisions. They show the maximum resources that a firm can distribute to investors without impairing its operating capability.3.Translate-Restate MethodBalance Sheet, Jan. 1Local Currency Trans. Dollar Inflation Historical costRate Equivalents Adjustment Constant $Cash INR 920,000 .025 $23,000 - $23,000Inventory 640,000 .025 16,000 - 16,000 Total INR1,560,000 $39,000 $39,000A/P INR 420,000 .025 $10,500 - $10,500 Owners' equity 1,140,000 .025 28,500 - 28,500 Total INR 1,560,000 $39,000 $ 39,000Income StatementDec. 31Revenues INR 6,000,000 .022 $ 132,000 108/104 $ 137,077 Cost of sales 2,560,000 .022 56,320 108/100 60,825Selling & Adm. 1,200,000 .022 26,400 108/104 27,415 Depreciation 160,000 .022 3,520 108/100 3,802 Interest 240,000 .022 5,280 108/108 5,280Net Income INR 1,840,000 $ 40,480 $ 39,755 Monetary gains (losses)a - - 4,468$44,223a Monetary gains/(losses):CashBeg. Bal INR 920,000 .02 $ 18,400 108/100 $ 19,872Downpayment (800,000) .02 (16,000) 108/100 (17,280) Sales 6,000,000 .02 120,000 108/104 124,615Selling & Adm. (1,200,000) .02 (24,000) 108/104 (24,923)Payments on Acc. (2,200,000) .02 (44,000) 108/104 (45,692) Interest (240,000) .02 (4,800) 108/108 (4,800)INR 2,480,000 $ 49,600 51,792-49,600Monetary loss $ (2,192) Accounts PayableBeg. Bal. INR 420,000 .02 $ 8,400 108/100 $ 9,072Purchases 2,400,000 .02 48,000 108/100 51,840Pmt. on acc. (2,200,000) .02 (44,000) 108/104 45,692INR 620,000 $ 12,400 $ 15,592- 12,400Monetary gain $ 2,820Notes payablePur. W/house Rpe 2,400,000 .02 $ 48,000 108/100 $ 51,840 48,000Monetary gain $ 3,840Netmonetary gain: $(2,192) + $2,820 + $3,840 = $4,468.Balance Sheet Local Trans. Dollar Inflation Historical cost- Dec. 31 Currency Rate Equiv. Adjustment Constant $Cash INR 2,480,000 .02 48,600 108/108 $ 48,600 Inventory 480,000 .02 9,600 108/100 10,368 Building 3,200,000 .02 64,000 108/100 69,120Acc. Dep. 160,000 .02 3,200 108/100 3,456Total INR 6,000,000 $120,000 $ 124,632Acc. payable 620,000 .02 12,400 108/108 $ 12,400Notes payable 2,400,000 .02 48,000 108/108 48,000Trans. adj.b - (9,380) (9,978)Owners' equity c 2,980,000 68,980 74,210Total INR 6,000,000 $120,000 $124,632________________________________________________________________ __b Translation adjustment:Beginning net assets Rpe 1,140,000 (.02 - .025) = $ (5,700) X 108/100 = $(6,156)Increase in net assets Rpe 1,840,000 (.02 - .022) = (3,680) X 108/104 = $(3,822)$(9,380) $(9,978) c Balancing residualRestate - Translate MethodBalance Sheet Local Inflation Historical Cost- Trans. D ollar Jan 1. Currency Adjustment Constant rupee Rate equivalents Cash INR 920,000 128/128 INR 920,000 .025 $ 23,000 Inventory d 640,000 128/128 640,000 .025 16,000Total INR1,560,000 INR1,560,000 $ 39,000Acct. payable INR 420,000 128/128 INR 420,000 .025 $ 10,500Owner's equity 1,140,000 1,140,000 28,500Total INR 1,560,000 INR 1,560,000 $ 39,000d Assumes inventory acquired near year-end.Income StatementYear ended Dec. 31Revenues INR 6,000,000 160/144 INR 6,666,666 .022 $ 146,667Cost of Sales 2,560,000 160/128 3,200,000 .022 70,400 Selling & Adm. 1,200,000 160/144 1,333,333 .022 29,333 Depreciation 160,000 160/128 200,000 .022 4,400Interest 240,000 160/160 240,000 .022 5,280Net Income INR1,840,000 INR1,693,334 $ 37,254 Monetary gains(losses)a- 741,666 .022 16,317INR2,435,000 $ 53,571Balance SheetDec. 31Cash INR 2,480,000 160/160 INR 2,480,000 .02 $ 49,600Inventory 480,000 160/128 600,000 .02 12,000Building 3,200,000 160/128 4,000,000 .02 80,000Acc. deprec. 160,000 160/128 200,000 .02 4,000Total INR 6,000,000 INR 6,880,000 $137,600Acc. payable INR620,000 160/160 INR 620,000 .02 $ 12,400 Notes payable 2,400,000 160/160 2,400,000 .02 48,000Owner's equity 2,980,000 3,860,000 87,770 Translation adj.b - (10,570)Total INR 6,000,000 INR 6,880,000 $137,600________________________________________b Beginning net assets INR1,140,000 (.02 - .025) = $ (5,700)Change in net assets 2,435,000 ).02 - .022) = $(4,870)$(10,570)Both methods are inadequate for American investors because they are based on the historical cost valuation framework. A better reporting procedure is to restate local accounts to their current cost equivalents, then translate these amounts to the reporting currency using the year-end (current) foreign exchange rate. This is illustrated here.Restate (current cost)/Translate (current rate)Cash INR 920,000 - INR 920,000 .025 $ 23,000Inventory 640,000 - 640,000 .025 16,000Total INR 1,560,000 INR1,560,000 $ 39,000Acc. payable INR 420,000 - INR 420,000 .025 $ 10,500Owner's equity 1,140,000 - 1,140,000 28,500。

Financial and Managerial Accounting English Version Photocopy Tenth Edition Exercise Questions withAnswersIntroductionThe Financial and Managerial Accounting English Version Photocopy Tenth Edition Exercise Questions with Answers is a comprehensive guide for accounting students to practice and sharpen their skills infinancial and managerial accounting. This guide includes a wide range of exercise questions with detled answers to help students better understand complex accounting concepts. The guide is designed to be an essential study tool for accounting students and professionals who are preparing for certification exams or looking to improve their accounting skills.FeaturesThe guide contns the following features:prehensive coverage of financial and managerialaccounting topics.2.A wide range of exercise questions with detled answers.3.Clear and concise explanations of complex accountingconcepts.4.Easy-to-use format.5.All questions are organized by chapter and topic for easyreference.ContentsThe guide includes the following chapters:1.Accounting in Action2.The Recording Process3.Adjusting the Accountspleting the Accounting Cycle5.Accounting for Merchandising Operations6.Inventories7.Fraud, Internal Control, and Cash8.Accounting for Receivables9.Plant Assets, Natural Resources, and Intangible Assets10.Liabilities11.Corporations: Organization, Stock Transactions, andDividends12.Long-Term Liabilities: Bonds and Notes13.Investments and Fr Value Accounting14.Statement of Cash Flows15.Financial Statement Analysis16.Managerial Accounting Concepts and Principles17.Job Order Costing18.Process Costing19.Cost Behavior and Cost-Volume-Profit Analysis20.Budgeting21.Performance Evaluation Using Variances from StandardCosts22.Performance Evaluation for Decentralized Operations23.Differential Analysis and Product PricingEach chapter includes a series of exercise questions with answers.How to Use the GuideThe guide is designed to be an essential study tool for accounting students and professionals who are preparing for certification exams or looking to improve their accounting skills. Students can use the guide to practice and sharpen their accounting skills. The guide can be used in conjunction with textbooks, lectures, and other study materials. Students are encouraged to work through e ach chapter’s exercises in order, starting with the easier exercises and progressing to the more difficult exercises.ConclusionThe Financial and Managerial Accounting English Version Photocopy Tenth Edition Exercise Questions with Answers is a comprehensive guide for accounting students to practice and sharpen their skills infinancial and managerial accounting. This guide includes a wide range of exercise questions with detled answers to help students better understand complex accounting concepts. The guide is an essential study tool for accounting students and professionals who are preparing for certification exams or looking to improve their accounting skills.。

accounting and finance专业介绍-概述说明以及解释1.引言1.1 概述概述部分的内容可以包括对accounting and finance专业的定义和简要介绍。

可以着重强调该专业的重要性和它在商业领域中的作用。

概述：accounting and finance是一门研究财务管理和会计原理的学科，其目的是培养学生具备在财务和会计领域工作所需的技能和知识。

这个领域的专业人士负责管理和监督组织的财务活动，确保其财务健康并为未来的决策提供有关财务数据和信息。

会计和财务专业具有深远的影响力，无论是在商业机构还是在非营利组织。

它们为决策制定者提供了必要的财务信息，以便他们能够作出明智的决策，规划战略并管理资源。

通过学习会计和财务知识，学生将掌握财务报告、预算编制、投资决策和风险管理等方面的技能。

在现代商业环境中，会计和财务专业人士扮演着关键的角色。

他们需要具备分析能力、问题解决能力和沟通能力，以便能够理解和解释复杂的财务数据，并为管理者和其他利益相关者提供准确的报告和建议。

因此，accounting and finance专业对于那些想要在商业领域取得成功的学生来说是非常有吸引力的选择。

无论是在投资银行、会计师事务所、企业财务部门还是其他金融机构，这个专业都提供了广阔的就业机会和职业发展空间。

在接下来的章节中，我们将更详细地介绍会计专业和财务专业，以便更全面地了解这两个领域的特点和要求。

1.2 文章结构文章结构部分的内容可以描述整篇文章的组织结构和各个章节的主要内容。

可以按照以下方式编写：在本文中，将介绍accounting and finance专业的相关知识和领域。

文章主要分为引言、正文和结论三个部分。

引言部分将为读者提供一个概述，简单介绍accounting and finance 专业的背景和重要性。

同时，还会阐述本文的目的，为读者提供一个清晰的阅读指南。

正文部分将详细介绍会计专业和财务专业。

发表accounting and finance全文共四篇示例，供读者参考第一篇示例：财务与会计学是现代商业社会中不可或缺的重要学科，它们通过对财务数据进行分析和解释，帮助企业制定决策、评估绩效和规划未来。

在当今全球化和数字化的经济环境下，在财务与会计领域取得成功变得越来越具有挑战性和重要性。

财务与会计是紧密相关的两个学科，它们在企业管理中起着至关重要的作用。

财务是指企业运作中涉及现金流量的一切方面，包括筹措资金、投资、运营和风险管理等。

而会计是负责记录和报告企业财务活动的学科，它为决策者提供了有关企业财务状况和绩效的信息。

财务和会计的结合为企业提供了一个全面的财务管理框架，帮助企业做出明智的财务决策。

在当今竞争激烈的商业环境中，企业面临着种种挑战，如全球化竞争、技术革新、市场波动等。

在这些复杂的环境中，正确的财务与会计战略显得尤为重要。

通过高效的财务管理，企业可以优化资源利用，提高效率和生产力，实现盈利最大化。

准确的会计信息也可以帮助企业了解自身的财务状况，及时发现问题和改进不足之处。

对于个人而言，了解财务与会计知识也是非常重要的。

无论是作为企业管理者、投资者还是普通消费者，都需要具备一定的财务与会计知识来做出明智的决策。

作为企业管理者，了解财务数据可以帮助他们更好地制定战略和控制成本；而作为投资者，了解公司的财务报表可以帮助他们评估投资风险和回报；作为普通消费者，了解自己的财务状况可以帮助他们做出理性的消费决策。

财务与会计学不仅在商业领域中发挥重要作用，同时也对社会发展具有深远影响。

通过财务与会计信息的准确记录和披露，可以有效监督企业的经营活动，防止欺诈行为的发生，保护投资者和消费者的利益。

透明的财务信息也有助于政府和监管机构更好地监管和规范市场，维护金融秩序和社会稳定。

在未来，随着经济全球化和数字化的加速发展，财务与会计学将面临更多挑战和机遇。

新兴技术如人工智能、大数据、区块链等的应用将改变财务与会计领域的传统模式，为企业提供更高效、准确和安全的财务管理工具。

内容第1章介绍 (1)第二章会计..........................................................在理想的条件7第三章财务报告的决策有用法 (68)第四章......................................................................有效的证券市场129第五章会计信息的价值相关性 (153)第六章决策有用性................................测量方法194第七章........................................................................测量应用237第8章有效的决策有用的契约方法 (285)第九章的分析冲突 (321)第十章高管薪酬 (371)第十一章盈余管理 (425)第十二章标准设置:经济问题 (487)第十三章标准设置:政治问题 (527)版权©2015年皮尔森加拿大公司。

第一章介绍1.1 这本书的目的1.2 一些历史的角度来看1.3 2007-2008年的市场崩盘1.4 有效的合同1.5 关于道德行为的说明1.6 基于规则的与基于原则的会计准则1.7 财务会计和报告信息的复杂性1.8 会计研究的作用1.9 信息不对称的重要性1.10财务会计理论的基本问题1.11监管作为对根本问题的反应1.12本书的组织结构1.12.1理想条件1.12.2逆向选择1.12.3道德风险1.12.4标准设定1.12.5标准设定过程1.13财务会计理论与会计实务的相关性学习目标及建议教学方法1. 这本书的概要我使用图1.1作为模板来描述这本书的大致轮廓。

由于学生们通常没有机会在第一节课上阅读第一章，所以我非常关注这一章的内容。

我讨论的要点是:•理想的会计环境。

在这里，基于现值的会计是很自然的。

我讨论了这种会计基础可行所需的理想条件，但没有详细讨论，因为这个主题在第2章有更深入的讨论。

财务术语#中英文对照：Finance和Accounting专业必备单词金融会计专业一直备受中国留学生青睐。

相对其他专业，它虽然对于申请者的要求比较高，但专业极高的就业率及客观的薪资也成为吸引广大申请者的重要原因之一。

背会了以下这些单词，学Financial Accounting的小伙伴们就再也不用蛋疼了~！Part 1 会计与会计理论会计 accounting决策人 Decision Maker 投资人Investor股东Shareholder债权人Creditor财务会计Financial Accounting管理会计 Management Accounting成本会计Cost Accounting私业会计Private Accounting公众会计Public Accounting注册会计师 CPA Certified Public Accountant国际会计准则委员会IASC美国注册会计师协会AICPA财务会计准则委员会FASB管理会计协会 IMA美国会计学会 AAA税务稽核署 IRS独资企业Proprietorship合伙人企业Partnership公司Corporation会计目标Accounting Objectives会计假设 Accounting Assumptions会计要素 Accounting Elements会计原则 Accounting Principles会计实务过程 Accounting Procedures财务报表 Financial Statements财务分析Financial Analysis会计主体假设 Separate-entity Assumption货币计量假设Unit-of-measure Assumption持续经营假设Continuity(Going-concern) Assumption会计分期假设Time-period Assumption资产Asset负债Liability业主权益Owner's Equity收入 Revenue费用 Expense收益 Income亏损 Loss历史成本原则Cost Principle收入实现原则Revenue Principle配比原则Matching Principle全面披露原则Full-disclosure (Reporting) Principle客观性原则Objective Principle一致性原则Consistent Principle可比性原则Comparability Principle重大性原则Materiality Principle稳健性原则Conservatism Principle权责发生制 Accrual Basis现金收付制 Cash Basis财务报告 Financial Report 流动资产 Current assets流动负债 Current Liabilities长期负债 Long-term Liabilities投入资本Contributed Capital留存收益Retained EarningPart 2 会计循环会计循环 Accounting Procedure/Cycle会计信息系统Accounting information System帐户Ledger会计科目Account会计分录Journal entry原始凭证Source Document日记帐 Journal总分类帐 General Ledger明细分类帐 Subsidiary Ledger 试算平衡 Trial Balance现金收款日记帐 Cash receipt journal现金付款日记帐 Cash disbursements journal销售日记帐 Sales Journal购货日记帐Purchase Journal普通日记帐General Journal工作底稿Worksheet调整分录 Adjusting entries结帐 Closing entriesPart 3 现金与应收帐款现金 Cash银行存款 Cash in bank库存现金 Cash in hand流动资产Current assets偿债基金Sinking fund定额备用金Imprest petty cash支票 Check(cheque)银行对帐单 Bank statement 银行存款调节表Bank reconciliation statement在途存款Outstanding deposit在途支票Outstanding check应付凭单Vouchers payable应收帐款Account receivable应收票据Note receivable起运点交货价F.O.B shipping pointnt商业折扣Trade discount现金折扣 Cash discount销售退回及折让 Sales return and allowance坏帐费用 Bad debt expense备抵法 Allowance method 备抵坏帐Bad debt allowance损益表法Income statement approach资产负债表法 Balance sheet approach帐龄分析法 Aging analysis method直接冲销法Direct write-off method带息票据Interest bearing note不带息票据 Non-interest bearing note出票人Maker受款人Payee本金Principal利息率Interest rate到期日Maturity date本票Promissory note贴现Discount背书Endorse 拒付费 Protest fee comPart 4 存货存货 Inventory商品存货 Merchandise inventory产成品存货Finished goods inventory在产品存货Work in process inventory原材料存货Raw materials inventory起运地离岸价格F.O.B shipping point目的地抵岸价格 F.O.B destination寄销Consignment寄销人Consignor承销人Consignee定期盘存Periodic inventory永续盘存 Perpetual inventory购货 Purchase购货折让和折扣Purchase allowance and discounts存货盈余或短缺Inventory overages and shortages分批认定法Specific identification加权平均法Weighted average先进先出法First-in, first-out or FIFO后进先出法Lost-in, first-out or LIFO移动平均法Moving average成本或市价孰低法 Lower of cost or market or LCM 市价Market value重置成本Replacement cost可变现净值Net realizable value上限Upper limit下限Lower limit毛利法Gross margin method零售价格法 Retail method成本率 Cost ratioPart 5 长期投资长期投资 Long-term investment长期股票投资 Investment on stocks长期债券投资 Investment on bonds成本法 Cost method 权益法Equity method合并法Consolidation method股利宣布日Declaration date股权登记日Date of record除息日Ex-dividend date付息日 Payment date债券面值 Face value, Par value债券折价Discount on bonds债券溢价 Premium on bonds票面利率 Contract interest rate, stated rate市场利率 Market interest ratio, Effective rate普通股 Common Stock优先股 Preferred Stock现金股利 Cash dividends股票股利Stock dividends清算股利Liquidating dividends到期日 Maturity date到期值 Maturity value直线摊销法Straight-Line method of amortization实际利息摊销法Effective-interest method of amortizationpart 6 固定资产固定资产Plant assets or Fixed assets原值Original value预计使用年限Expected useful life预计残值Estimated residual value折旧费用 Depreciation expense累计折旧Accumulated depreciation帐面价值Carrying value应提折旧成本Depreciation cost净值Net value在建工程Construction-in-process磨损Wear and tear过时Obsolescence直线法Straight-line method (SL)工作量法 Units-of-production method (UOP)加速折旧法 Accelerated depreciation method双倍余额递减法 Double-declining balance method (DDB)年数总和法Sum-of-the-years-digits method (SYD)以旧换新 Trade in经营租赁 Operating lease融资租赁 Capital lease廉价购买权 Bargain purchase option (BPO)资产负债表外筹资Off-balance-sheet financing最低租赁付款额Minimum lease paymentsPart 7 无形资产无形资产Intangible assets专利权Patents商标权Trademarks, Trade names著作权Copyrights特许权或专营权Franchises商誉Goodwill开办费Organization cost租赁权 Leasehold摊销 AmortizationPart 8 流动负债负债Liability流动负债Current liability应付帐款Account payable应付票据Notes payable贴现票据Discount notes长期负债一年内到期部分 Current maturities of long-term liabilities应付股利 Dividends payable预收收益 Prepayments by customers存入保证金Refundable deposits应付费用Accrual expense增值税value added tax营业税Business tax应付所得税Income tax payable应付奖金Bonuses payable产品质量担保负债Estimated liabilities under product warranties赠品和兑换券Premiums, coupons and trading stamps或有事项Contingency或有负债Contingent或有损失Loss contingencies或有利得Gain contingencies永久性差异Permanent difference时间性差异Timing difference应付税款法 Taxes payable method纳税影响会计法Tax effect accounting method递延所得税负债法Deferred income tax liability methodPart 9 长期负债长期负债Long-termLiabilities应付公司债券Bonds payable有担保品的公司债券Secured Bonds抵押公司债券Mortgage Bonds保证公司债券Guaranteed Bonds信用公司债券 Debenture Bonds一次还本公司债券Term Bonds分期还本公司债券Serial Bonds可转换公司债券Convertible Bonds可赎回公司债券 Callable Bonds可要求公司债券Redeemable Bonds记名公司债券Registered Bonds无记名公司债券Coupon Bonds普通公司债券Ordinary Bonds收益公司债券Income Bonds名义利率，票面利率Nominal rate实际利率Actual rate有效利率 Effective rate溢价 Premium折价 Discount面值 Par value直线法Straight-line method实际利率法Effective interest method到期直接偿付 Repayment at maturity提前偿付 Repayment at advance偿债基金 Sinking fund长期应付票据 Long-term notes payable抵押借款 Mortgage loanPart 10 业主权益权益 Equity业主权益Owner's equity股东权益Stockholder's equity投入资本Contributed capital缴入资本 Paid-in capital股本 Capital stock资本公积Capital surplus留存收益Retained earnings核定股本Authorized capital stock实收资本 Issued capital stock发行在外股本Outstanding capital stock库藏股Treasury stock普通股Common stock优先股Preferred stock累积优先股Cumulative preferred stock非累积优先股 Noncumulative preferred stock完全参加优先股Fully participating preferred stock部分参加优先股Partially participating preferred stock非部分参加优先股Nonpartially participating preferred stock现金发行Issuance for cash非现金发行 Issuance for noncash consideration股票的合并发行Lump-sum sales of stock发行成本Issuance cost成本法Cost method面值法 Par value method捐赠资本 Donated capital盈余分配 Distribution of earnings股利 Dividend股利政策 Dividend policy 宣布日 Date of declaration股权登记日 Date of record除息日 Ex-dividend date股利支付日 Date of payment现金股利 Cash dividend 股票股利 Stock dividend拨款 appropriationPart 11 财务报表财务报表 Financial Statement资产负债表 Balance Sheet收益表 Income Statement帐户式 Account Form报告式 Report Form编制（报表）Prepare工作底稿Worksheet多步式Multi-step单步式Single-stepPart 12 财务状况变动表财务状况变动表中的现金基础 SCFP.Cash Basis（现金流量表）财务状况变动表中的营运资金基础SCFP.Working Capital Basis（资金来源与运用表）营运资金Working Capital全部资源概念 All-resources concept直接交换业务Direct exchanges正常营业活动 Normal operating activities财务活动 Financing activities投资活动 Investing activitiesPart 13 财务报表分析财务报表分析 Analysis of financial statements比较财务报表Comparative financial statements趋势百分比 Trend percentage比率 Ratios普通股每股收益 Earnings per share of common stock股利收益率 Dividend yield ratio价益比 Price-earnings ratio普通股每股帐面价值Book value per share of common stock资本报酬率Return on investment总资产报酬率 Return on total asset债券收益率Yield rate on bonds已获利息倍数Number of times interest earned债券比率 Debt ratio优先股收益率 Yield rate on preferred stock营运资本Working Capital周转Turnover存货周转率Inventory turnover应收帐款周转率 Accounts receivable turnover 流动比率 Current ratio速动比率 Quick ratio酸性试验比率 Acid test ratioPart 14 合并财务报表合并财务报表Consolidated financial statements吸收合并Merger创立合并Consolidation控股公司Parent company附属公司 Subsidiary company少数股权 Minority interest权益联营合并 Pooling of interest购买合并 Combination by purchase权益法 Equity method成本法 Cost methodPart 15 物价变动中的会计计量物价变动之会计Price-level changes accounting 一般物价水平会计General price-level accounting货币购买力会计Purchasing-power accounting统一币值会计Constant dollar accounting历史成本Historical cost现行价值会计Current value accounting现行成本 Current cost重置成本 Replacement cost物价指数Price-level index国民生产总值物价指数Gross national product implicit price deflator (or GNP deflator)消费物价指数Consumer price index (or CPI)批发物价指数 Wholesale price index 货币性资产Monetary assets货币性负债Monetary liabilities货币购买力损益Purchasing-power gains or losses资产持有损益Holding gains or losses未实现的资产持有损益 Unrealized holding gains or losses。