财务会计FAch.docx

财务会计FAch.docx

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财务会计FAch

财务会计FA3_ch13

SchoolofManagement,HUSTCurrentLiabilitiesandContingenciesChapter<13IntermediateAccounting12thEditionKieso,Weygandt,andWarfieldChapterPreparedbyCobyHarmon,UniversityofCalifornia,SantaBarbara<13-1

SchoolofManagement,HUSTLearningObjectives1.Describethenature,type,andvaluationofcurrentliabilities.2.Explaintheclassificationissuesofshort-termdebtexpectedtoberefinanced.3.Identifytypesofemployee-relatedliabilities.4.Identifythecriteriausedtoaccountforanddisclosegainandlosscontingencies.5.Explaintheaccountingfordifferenttypesoflosscontingencies.6.Indicatehowtopresentandanalyzeliabilitiesandcontingencies.Chapter<13-2

SchoolofManagement,HUSTCurrentLiabilitiesandContingenciesCurrentPresentationandContingenciesLiabilitiesAnalysisWhatisaGainPresentationofliability?

contingenciescurrentliabilitiesWhatisaLosscurrentliability?

contingenciesPresentationofcontingenciesAnalysisofcurrentliabilitiesChapter<13-3

SchoolofManagement,HUSTWhatisaLiability?

FASB,definesliabilitiesas:

“probablefuturesacrificesofeconomicbenefitsarisingfrompresentobligationsofaparticularentitytotransferassetsorprovideservicestootherentitiesinthefutureasaresultofpasttransactionsorevents.”Chapter<13-4

SchoolofManagement,HUSTWhatisaLiability?

IASB,definesliabilitiesas:

Aliabilityisapresentobligationoftheentityarisingfrompastevents,thesettlementofwhichisexpectedtoresultinanoutflowfromtheentityofresourcesembodyingeconomicbenefits.Onekeycharacteristicisthattheentitycannotavoidsettlingtheobligation.Thatis,thereislittleornodiscretiontoavoidthefutureoutflowofresources.Chapter<13-5

SchoolofManagement,HUSTExample:

liabilitylForexample,onJune10,YuriAndroventersintoacontracttodeliver10metrictonnesofcoaltoAleksaShastrionDecember1.Shastriagreestopay2,000forthedelivery.lThequestionthenis,doesShastrihavealiabilityonherbooksasofJune11?

Chapter<13-6

SchoolofManagement,HUSTWhatisaLiability?

AccordingtotheFASB,aliabilityhasthreeessentialcharacteristics:

（a）itisapresentobligationthatentailssettlementbyprobablefuturetransferoruseofcash,goods,orservices;（b）itisanunavoidableobligation;and（c）thetransactionorothereventcreatingtheobligationhasalreadyoccurred.Chapter<13-7

SchoolofManagement,HUST中国企业会计准则l第二十三条负债是指企业过去的交易或者事项形成的、预期会导致经济利益流出企业的现时义务。

现时义务是指企业在现行条件下已承担的义务。

未来发生的交易或者事项形成的义务，不属于现时义务，不应当确认为负债。

l第二十四条符合本准则第二十三条规定的负债定义的义务，在同时满足以下条件时，确认为负债：

（一）与该义务有关的经济利益很可能流出企业；

（二）未来流出的经济利益的金额能够可靠地计量。

l第二十五条符合负债定义和负债确认条件的项目，应当列入资产负债表；符合负债定义、但不符合负债确认条件的项目，不应当列入资产负债表。

Chapter<13-8

SchoolofManagement,HUSTWhatisaCurrentLiability?

Currentliabilitiesare“obligationswhoseliquidationisreasonablyexpectedtorequireuseofexistingresourcesproperlyclassifiedascurrentassets,orthecreationofothercurrentliabilities.”Thus,thedefinitionofcurrentliabilitiesforaparticularindustrywilldependuponthetimeperio（doperatingcycleoroneyear,whicheverislonger）usedindefiningcurrentassetsinthatindustry.ChapterLO1Describethenature,type,andvaluationofcurrentliabilities.<13-9

SchoolofManagement,HUSTWhatisaCurrentLiability?

TypicalCurrentLiabilities:

Accountspayable.Customeradvancesanddeposits.Notespayable.Unearnedrevenues.Currentmaturitiesoflong-termdebt.Salestaxespayable.Short-termobligationsIncometaxespayable.expectedtoberefinanced.Employee-relatedDividendspayable.liabilities.ChapterLO1Describethenature,type,andvaluationofcurrentliabilities.<13-10

SchoolofManagement,HUSTChapter<13-11

SchoolofManagement,HUSTWhatisaCurrentLiability?

AccountsPayable（tradeaccountspayable）Balancesowedtoothersforgoods,supplies,orservicespurchasedonopenaccount.Arisebecauseoftimelagbetweenreceiptofgoodsorservicesandthepaymentforthem.Thetermsofthesale（e.g.,2/10,n/30）stateperiodofextendedcredit.ChapterLO1Describethenature,type,andvaluationofcurrentliabilities.<13-12

SchoolofManagement,HUSTWhatisaCurrentLiability?

NotesPayableWrittenpromisestopayacertainsumofmoneyonaspecifiedfuturedate.Arisefrompurchases,financing,orothertransactions.Notesclassifiedasshort-termorlong-term.Notesmaybeinterest-bearingorzero-interest-bearing.ChapterLO1Describethenature,type,andvaluationofcurrentliabilities.<13-<13

SchoolofManagement,HUSTWhatisaCurrentLiability?

E<13-2（AccountsandNotesPayable）Thefollowingareselected2007transactionsofSeanAstinCorporation.Sept.1-PurchasedinventoryfromEncinoCompanyonaccountfor$50,000.Astinrecordspurchasesgrossandusesaperiodicinventorysystem.Oct.1-Issueda$50,000,12-month,8%notetoEncinoinpaymentofaccount.Oct.1-Borrowed$50,000fromtheShoreBankbysigninga