中级财务会计英文ch_002PPT文档格式.ppt

中级财务会计英文ch_002PPT文档格式.ppt

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,AccountingChangesandErrorAnalysis,Chapter14,IntermediateAccounting12thEditionKieso,Weygandt,andWarfield,PreparedbyCobyHarmon,UniversityofCalifornia,SantaBarbara,Identifythetypesofaccountingchanges.Describetheaccountingforchangesinaccountingprinciples.Understandhowtoaccountforretrospectiveaccountingchanges.Understandhowtoaccountforimpracticablechanges.Describetheaccountingforchangesinestimates.Identifychangesinareportingentity.Describetheaccountingforcorrectionoferrors.Identifyeconomicmotivesforchangingaccountingmethods.Analyzetheeffectoferrors.,LearningObjectives,Whyareaccountingchangesmade?

@#@NewFASBpronouncementsChangingeconomicconditionsChanginginternalcircumstances,AccountingChangesReportingIssues&@#@Approaches,Essentialissuesinreportingaccountingchanges:

@#@Whetheranaccountingchangeisallowed.Whethertorestateprioryears?

@#@financialstatements.Whethertorecognizetheeffectofthechangeinthecurrentyearsnetincomeorinthebeginningretainedearningsbalance.,AccountingChangesReportingIssues&@#@Approaches,AccountingChanges,Errorcorrections.Arenotclassifiedasaccountingchanges.Doaffecttheincomeofpriorperiodsandrequirespecialtreatment.,AccountingChanges,Relevance,Consistency,PublicConfidence,ObjectivesofReportingAccountingChanges,AccountingPrincipleChanges,Thefollowingarenotaccountingprinciplechanges:

@#@InitialadoptionofanaccountingprincipleAdoptinganaccountingprincipleforanewgroupofassetsorliabilitiesChangefrominappropriateaccountingprincipletoGAAPPlannedchangetostraight-linedepreciationChangeinaccountingprinciplethatcannotbedistinguishedfromachangeinaccountingestimate,AccountingPrincipleChanges,Threeapproachesforreportingchanges:

@#@Currently（cumulativeeffect）.Retrospectively.Prospectively（inthefuture）.FASBrequiresuseoftheretrospectiveapproach.,ChangesinAccountingPrinciple,Achangeinanaccountingprincipleisaccountedforbytheretrospectiveapplicationofthenewaccountingprinciple.Achangeinanaccountingestimateisaccountedforprospectively.Achangeinareportingentityisaccountedforbytheretrospectiveapplicationofthenewaccountingprinciple.Amaterialerrorisaccountedforbypriorperiodrestatement（adjustment）.,AccordingtotheprovisionsofFASBNo.154:

@#@,BasicPrinciples,Acompanyaccountsforachangeinprinciplebytheretrospectiveapplicationofthenewaccountingprincipleasfollows:

@#@,Thecompanycomputesthecumulativeeffectofthechangetothenewaccountingprincipleasofthebeginningofthefirstperiodpresented.Thatis,itcomputestheamountsthatwouldhavebeeninthefinancialstatementsifithadalwaysusedthenewprinciple.,Continued,RetrospectiveAdjustmentMethod,Thecompanyadjuststhecarryingvaluesofthoseassetsandliabilities（includingincometaxes）thatareaffectedbythechange.Thecompanymakesanoffsettingadjustmenttothebeginningbalanceofretainedearningstoreportthecumulativeeffectofthechange（netoftaxes）foreachperiodpresented.,Continued,RetrospectiveAdjustmentMethod,Thecompanyadjuststhefinancialstatementsofeachpriorperiodtoreflectthespecificeffectsofapplyingthenewaccountingprinciple.Thatis,eachitemineachfinancialstatementthatisaffectedbythechangeisrestatedtotheappropriateamountunderthenewaccountingprinciple.Thecompanyusesthenewaccountingprincipleinitscurrentfinancialstatements.,Continued,RetrospectiveAdjustmentMethod,Thecompanysdisclosuresinclude（a）thenatureandreasonforthechangeinaccountingprinciple,includinganexplanationofwhythenewprincipleispreferable,（b）adescriptionoftheprior-periodinformationthathasbeenretrospectivelyadjusted,（c）theeffectofthechangeonincome,earningspershare,andanyotherfinancialstatementlineitemforthecurrentperiodandthepriorperiodsretrospectivelyadjusted,and（d）thecumulativeeffectofthechangeonretainedearnings（orotherappropriatecomponentofequity）atthebeginningoftheearliestperiodpresented.,RetrospectiveAdjustmentMethod,Thefollowingaccountingprinciplechangesaresubjecttotheretroactiveapproach:

@#@ChangefromLIFOtoanotherinventorymethodChangeinthemethodofaccountingforlong-termconstructioncontractsChangetoorfromfull-costmethodinextractiveindustriesChangesinaccountingprinciplemadeinconjunctionwithaninitialpublicofferingofequitysecurities（exemptionavailableonlyonce）,RetrospectiveAdjustmentMethod,Thefollowingaccountingprinciplechangesaresubjecttotheretroactiveapproach:

@#@Changefromretirement/replacementaccountingtodepreciationaccountingforrailroadtrackstructuresChangetoaprinciplerequiredbyanewpronouncementrecognizedasGAAPthatrequiresretroactiveapplicationChangetotheequitymethodofaccountingforinvestmentsincommonstock（sometim