财务会计概念与应用英文版
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财务会计概念与应用英文版Lecture10-PPT精品文档
Chapter 10
Long-Term Debt Financing
Albrecht, Stice, Stice, Swain
COPYRIGHT © 2019 Thomson South-Western, a part of The Thomson Corporation. Thomson, the Star logo, and South-Western are trademarks used herein under license.
• $90.91 is the present value of $100 received in one year.
2
Future Values
• The value in the future of $1 to be received or paid today, given a specified interest rate.
• erest rate used. • Multiply the factor by the amount invested today.
$90.91 X 1.10 = $100
5
Annuities
• A series of equal amounts to be received or paid at the end of equal time periods. • Present values or future values can be computed for annuities.
$90.91 One Year Period at 10% rate $100
Future Value
• $100 is the future value in one year of $90.91 paid or invested today.
Long-Term Debt Financing
Albrecht, Stice, Stice, Swain
COPYRIGHT © 2019 Thomson South-Western, a part of The Thomson Corporation. Thomson, the Star logo, and South-Western are trademarks used herein under license.
• $90.91 is the present value of $100 received in one year.
2
Future Values
• The value in the future of $1 to be received or paid today, given a specified interest rate.
• erest rate used. • Multiply the factor by the amount invested today.
$90.91 X 1.10 = $100
5
Annuities
• A series of equal amounts to be received or paid at the end of equal time periods. • Present values or future values can be computed for annuities.
$90.91 One Year Period at 10% rate $100
Future Value
• $100 is the future value in one year of $90.91 paid or invested today.
财务会计概念与应用英文版Lecture_6
1
trademarks used herein under license.
Three Major Activities of a Business
• Operating Activities
– Selling products and services. – Acquire inventory for resale. – Acquire and pay for other operating items.
When the collection takes place: Feb. 1 Cash . . . . . . . . . . . . . . . . . . . . . . .10,000
Accounts Receivable . . . . . . . 10,000 Payment from FlyHigh for equip. sold. 6
– Based on prior years experience. – Any existing balance in the allowance account is not considered
– Sales Discounts and Sales Returns are contra accounts deducted from Gross Sales.
Gross Sales – Sales Discounts – Sales Returns and Allowances = Net Sales
Accounts Receivable. . . . . . . . . . . . .
196 4 200
To record discount taken by customer.
7
财务会计概念与应用英文版Lecture933页
•The owner of property that is leased (rented) to another party.
•A simple rental agreement.
•A leasing transaction that is recorded as a purchase by the lessee.
5
Classifying Leases
• A lease is classified as a capital lease if it is non-cancelable and meets one of the following criteria:
1. Lease transfers ownership of the asset. 2. Lease contains a bargain purchase option. 3. Lease term is equal to 75% or more of the
• Include costs incurred to acquire the asset and getting it ready for its intended use.
– Sales tax, shipping, installation, and other costs.
Fork Lift. . . . . . . . . . . . . . . . . . . . . . . . 12,500 Cash. . . . . . . . . . . . . . . . . . . . . . . . Notes Payable. . . . . . . . . . . . . . . .
help companies generate future cash flows. – Involves comparing the cost of the asset to
•A simple rental agreement.
•A leasing transaction that is recorded as a purchase by the lessee.
5
Classifying Leases
• A lease is classified as a capital lease if it is non-cancelable and meets one of the following criteria:
1. Lease transfers ownership of the asset. 2. Lease contains a bargain purchase option. 3. Lease term is equal to 75% or more of the
• Include costs incurred to acquire the asset and getting it ready for its intended use.
– Sales tax, shipping, installation, and other costs.
Fork Lift. . . . . . . . . . . . . . . . . . . . . . . . 12,500 Cash. . . . . . . . . . . . . . . . . . . . . . . . Notes Payable. . . . . . . . . . . . . . . .
help companies generate future cash flows. – Involves comparing the cost of the asset to
财务会计概念与应用英文版Lecture4-PPT精选文档
4
The Matching Principle
• All costs and expenses incurred in generating revenues must be recognized in the same reporting period as the related revenues. If revenues are recognized.
2
Accrual Accounting
• What do we do when transactions span more than one period?
• Accrual Accounting!
– Revenues and expenses are recorded as they are earned and incurred, not necessarily when cash is received or paid. – Better measures a firm’s performance than does cash flow data.
Rent Receivable Original entry Correct balances none 500 Rent Revenue none 500
12/31/09 Rent Receivable Rent Revenue
500 500
8
Example: Unrecorded Liabilities
Property Tax Expense Original entry none Property Tax Payable none 1,000
Chapter 4
Completing the Accounting Cycle
The Matching Principle
• All costs and expenses incurred in generating revenues must be recognized in the same reporting period as the related revenues. If revenues are recognized.
2
Accrual Accounting
• What do we do when transactions span more than one period?
• Accrual Accounting!
– Revenues and expenses are recorded as they are earned and incurred, not necessarily when cash is received or paid. – Better measures a firm’s performance than does cash flow data.
Rent Receivable Original entry Correct balances none 500 Rent Revenue none 500
12/31/09 Rent Receivable Rent Revenue
500 500
8
Example: Unrecorded Liabilities
Property Tax Expense Original entry none Property Tax Payable none 1,000
Chapter 4
Completing the Accounting Cycle
财务会计概念与应用英文版Lecture9
– Planning for investment in long-term assets. – Long-term assets have value because they
help companies generate future cash flows. – Involves comparing the cost of the asset to
Building. . . . . . . . . . . . . . . . . . . . . . . . 2,700,000
Cash. . . . . . . . . . . . . . . . . . . . . . . .
3,600,000
To record building and land acquired for $3,600,00101.
3
Asset Acquisition
• Include purchase price.
• Include costs incurred to acquire the asset and getting it ready for its intended use.
– Sales tax, shipping, installation, and other costs.
1
trademarks used herein under license.
Long-Term Assets
• Property, plant, and equipment
– Tangible assets acquired for the use in business operations.
– Land, buildings, and equipment.
help companies generate future cash flows. – Involves comparing the cost of the asset to
Building. . . . . . . . . . . . . . . . . . . . . . . . 2,700,000
Cash. . . . . . . . . . . . . . . . . . . . . . . .
3,600,000
To record building and land acquired for $3,600,00101.
3
Asset Acquisition
• Include purchase price.
• Include costs incurred to acquire the asset and getting it ready for its intended use.
– Sales tax, shipping, installation, and other costs.
1
trademarks used herein under license.
Long-Term Assets
• Property, plant, and equipment
– Tangible assets acquired for the use in business operations.
– Land, buildings, and equipment.
财务会计概念与应用英文版Lecture7
Avg. Cost Sold
Mixed Rice
$110 75
$ 35
11
LIFO vs. FIFO
• LIFO gives a better • FIFO gives a better reflection of COGS on measure of inventory the income statement. on the balance sheet.
• Therefore, LIFO is a • Therefore, FIFO is a
better measure of net better measure of
income.
inventory value.
12
Managing Inventory
It’s a balance!
Avoid tying up resources in inventory.
365 Inventory Turnover
Calculated as cost of goods sold divided by average inventory. (Shown in previous slide). 15
Managing the Operating Cycle
• Number of Days’ Purchases in Accounts Payable
Chapter 7
Inventory
Albrecht, Stice, Stice, Swain
COPYRIGHT © 2019 Thomson South-Western, a part of The Thomson Corporation. Thomson, the Star logo, and South-Western are
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5
Notes Payable
• Long-term debt that is paid back at the end of the loan term. • Interest is usually paid throughout the loan period.
To record a loan from the bank (2 year 10% loan): Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000 Notes Payable. . . . . . . . . . . . . . . . . 10,000 To record the interest for year 1: Interest Expense. . . . . . . . . . . . . . . . . . 1,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . 1,000 To record the repayment of the loan and year 2 interest: Notes Payable . . . . . . . . . . . . . . . . . . . . 10,000 Interest Expense . . . . . . . . . . . . . . . . . . 1,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . 11,000
– Use number of periods and rate to find appropriate factor. – Multiply the factor by the annuity (payment) amount.
Present value factor of annuity (Table II) X Payment = Present value
$90.91 One Year Period at 10% rate $100
Future Value
• $100 is the future value in one year of $90.91 paid or invested today.
2
Computing Present Values
• Using present value tables (Table I):
• Choose the time period and interest rate used. • Multiply the factor by the amount invested today.
$90.91 X 1.10 = $100
4
Annuities
• A series of equal amounts to be received or paid at the end of equal time periods. • Present values or future values can be computed for annuities.
• $90.91 is the present value of $100 received in one year.
1
Future Values
• The value in the future of $1 to be received or paid today, given a specified interest rate.
Present Values
• The value today of $1 to be received or paid in the future, given a specified interest rate.
$90.91 One Year Period at 10% rate $100
Present Value
Period 7% 8% 9% 10% 12%
1
2 3 4 5 6
0.9346
0.8734 0.8163 0.7629 0.7130 0.6663
0.9259
0.8573 0.7938 0.7350 0.6806 0.6302
0.9174
0.8417 0.7722 0.7084 0.6499 0.5963
6
MortgaBiblioteka es• A written promise to pay a stated amount of money. • Secured by the pledging of certain assets. • Liability recorded on the balance sheet is the amount borrowed (which is also the present value of the future payments).
0.9091
0.8264 0.7513 0.6830 0.6209 0.5645
0.8929
0.7972 0.7118 0.6355 0.5674 0.5066
• Choose the time period and interest rate used. • Multiply the factor by the amount to be received in the future. $100 X 0.9091 = $90.91
3
Computing Future Values
• Using future value tables (Table III):
Period 1 2 3 4 5 6 7% 1.0700 1.1449 1.2250 1.3108 1.4026 1.5007 8% 1.0800 1.1664 1.2597 1.3605 1.4693 1.5869 9% 1.0900 1.1881 1.2950 1.4116 1.5386 1.6771 10% 1.1000 1.2100 1.3310 1.4641 1.6105 1.7716 12% 1.1200 1.2544 1.4049 1.5735 1.7623 1.9738
Notes Payable
• Long-term debt that is paid back at the end of the loan term. • Interest is usually paid throughout the loan period.
To record a loan from the bank (2 year 10% loan): Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,000 Notes Payable. . . . . . . . . . . . . . . . . 10,000 To record the interest for year 1: Interest Expense. . . . . . . . . . . . . . . . . . 1,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . 1,000 To record the repayment of the loan and year 2 interest: Notes Payable . . . . . . . . . . . . . . . . . . . . 10,000 Interest Expense . . . . . . . . . . . . . . . . . . 1,000 Cash . . . . . . . . . . . . . . . . . . . . . . . . . 11,000
– Use number of periods and rate to find appropriate factor. – Multiply the factor by the annuity (payment) amount.
Present value factor of annuity (Table II) X Payment = Present value
$90.91 One Year Period at 10% rate $100
Future Value
• $100 is the future value in one year of $90.91 paid or invested today.
2
Computing Present Values
• Using present value tables (Table I):
• Choose the time period and interest rate used. • Multiply the factor by the amount invested today.
$90.91 X 1.10 = $100
4
Annuities
• A series of equal amounts to be received or paid at the end of equal time periods. • Present values or future values can be computed for annuities.
• $90.91 is the present value of $100 received in one year.
1
Future Values
• The value in the future of $1 to be received or paid today, given a specified interest rate.
Present Values
• The value today of $1 to be received or paid in the future, given a specified interest rate.
$90.91 One Year Period at 10% rate $100
Present Value
Period 7% 8% 9% 10% 12%
1
2 3 4 5 6
0.9346
0.8734 0.8163 0.7629 0.7130 0.6663
0.9259
0.8573 0.7938 0.7350 0.6806 0.6302
0.9174
0.8417 0.7722 0.7084 0.6499 0.5963
6
MortgaBiblioteka es• A written promise to pay a stated amount of money. • Secured by the pledging of certain assets. • Liability recorded on the balance sheet is the amount borrowed (which is also the present value of the future payments).
0.9091
0.8264 0.7513 0.6830 0.6209 0.5645
0.8929
0.7972 0.7118 0.6355 0.5674 0.5066
• Choose the time period and interest rate used. • Multiply the factor by the amount to be received in the future. $100 X 0.9091 = $90.91
3
Computing Future Values
• Using future value tables (Table III):
Period 1 2 3 4 5 6 7% 1.0700 1.1449 1.2250 1.3108 1.4026 1.5007 8% 1.0800 1.1664 1.2597 1.3605 1.4693 1.5869 9% 1.0900 1.1881 1.2950 1.4116 1.5386 1.6771 10% 1.1000 1.2100 1.3310 1.4641 1.6105 1.7716 12% 1.1200 1.2544 1.4049 1.5735 1.7623 1.9738