高级会计学英文课件 (10)
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Acct Ch10 Respon Acctg (May 5)
10 -10
10 -11
Elements of an Activity-Based Responsibility Accounting System
Team
Value Chain
Responsibility Is Defined Performance Measures Are Established
An activity-based responsibility accounting system assigns responsibility to processes and uses both financial and nonfinancial performance measures. It is the responsibility accounting system developed for those firms operating in continuous improvement environments (i.e. constant re-design, innovation, international competition).
Financial
Process Communication Strategy Alignment of Objectives Financial Measures Process Measures Promotions GainSharing
Responsibility Is Defined Performance Measures Are Established
10 -13
The customer perspective
The process perspective
The infrastructure (learning and growth) perspective
会计专业英语PPT
Management accounting (next page)
Management accounting:
use both historical data in assisting management daily operations and in planning future operations.
concepts one more time. • Combine both freely but English is more
important.
二 Improve English by ….
– Read textbook in class and after class – Remember new words – Answer questions in exercise is important – Overlook some parts while emphasizing some
• Financial accounting: provides external reports o outsiders, financial information.
2 Reporting management information to internal users
Internal users are senior management-level personnel.
• What do you think?
二 Functions
1 Reporting financial information to outside interested users
• Outside users are:investors,banks and other creditors,government agencies,general publics
Management accounting:
use both historical data in assisting management daily operations and in planning future operations.
concepts one more time. • Combine both freely but English is more
important.
二 Improve English by ….
– Read textbook in class and after class – Remember new words – Answer questions in exercise is important – Overlook some parts while emphasizing some
• Financial accounting: provides external reports o outsiders, financial information.
2 Reporting management information to internal users
Internal users are senior management-level personnel.
• What do you think?
二 Functions
1 Reporting financial information to outside interested users
• Outside users are:investors,banks and other creditors,government agencies,general publics
高级会计学英文课件 (11)
© Pearson Education, Inc. publishing as Prentice Hall 11-2
Consolidation Theories, Push-Down Accounting and Corporate Joint Ventures
1: Consolidation Theories
© Pearson Education, Inc. publishing as Prentice Hall
11-5
Income Reporting
• Parent company theory and traditional theory – Consolidated net income is income to the parent company shareholders • Entity theory – Total consolidated income is to be shared between the controlling and noncontrolling interests
© Pearson Education, Inc. publishing as Prentice Hall
11-1
Theories, Push-Down Accounting, and Joint Ventures: Objectives
1. Compare and contrast the elements of consolidation approaches under traditional theory, parent-company theory, and contemporary entity theory. 2. Adjust subsidiary assets and liabilities to fair values using push-down accounting. 3. Account for corporate and unincorporated joint ventures. 4. Identify variable interest entities. 5. Consolidate a variable interest entity.
Consolidation Theories, Push-Down Accounting and Corporate Joint Ventures
1: Consolidation Theories
© Pearson Education, Inc. publishing as Prentice Hall
11-5
Income Reporting
• Parent company theory and traditional theory – Consolidated net income is income to the parent company shareholders • Entity theory – Total consolidated income is to be shared between the controlling and noncontrolling interests
© Pearson Education, Inc. publishing as Prentice Hall
11-1
Theories, Push-Down Accounting, and Joint Ventures: Objectives
1. Compare and contrast the elements of consolidation approaches under traditional theory, parent-company theory, and contemporary entity theory. 2. Adjust subsidiary assets and liabilities to fair values using push-down accounting. 3. Account for corporate and unincorporated joint ventures. 4. Identify variable interest entities. 5. Consolidate a variable interest entity.
高财 英文 ppt
Consolidated Entity
Company S2
Profit (loss) that has not been realized through subsequent sales to third parties must be eliminated in the preparation of consolidated financial statements.
Slide 6-4
LO 4 Upstream and downstream sales.
Elimination of intercompany sales of goods
Group
Purchases 10
P Comp
Sales 15
S Comp
Sales 20
Downstream Sales
Elimination of intercompany sales of goods
Slide 6-1
6
Elimination of Unrealized Profit on Intercompany Sales of Inventory
Advanced Accounting, Fourth Edition
Slide 6-2
Learning Objectives
1. 2. 3. Describe the financial reporting objectives for intercompany sales of inventory. Determine the amount of intercompany profit, if any, to be eliminated from the consolidated statements. Understand the concept of eliminating 100% of intercompany profit not realized in transactions with outsiders, and know the authoritative position.
Company S2
Profit (loss) that has not been realized through subsequent sales to third parties must be eliminated in the preparation of consolidated financial statements.
Slide 6-4
LO 4 Upstream and downstream sales.
Elimination of intercompany sales of goods
Group
Purchases 10
P Comp
Sales 15
S Comp
Sales 20
Downstream Sales
Elimination of intercompany sales of goods
Slide 6-1
6
Elimination of Unrealized Profit on Intercompany Sales of Inventory
Advanced Accounting, Fourth Edition
Slide 6-2
Learning Objectives
1. 2. 3. Describe the financial reporting objectives for intercompany sales of inventory. Determine the amount of intercompany profit, if any, to be eliminated from the consolidated statements. Understand the concept of eliminating 100% of intercompany profit not realized in transactions with outsiders, and know the authoritative position.
《会计学专业英语》PPT课件
Accounting: Information for Decision Making
• The primary objective of accounting – to provide information that is useful for making decisions.
Users of Accounting Information
why they need the information; • Understand the types of accounting information; • Have a general idea of the professional fields of
accounting and their duties. • Learn the accounting terms in this chapter and use them
Suggestions for study
• Previewing the text is very important.
• 《An English –Chinese Dictionary of Accounting》，《英汉双解财会词典》，外 语教学与研究出版社， [英] P.H. Collin, Adrian Joliffe 编，张炜等译，2002年9 月第1版
– Company – Corporation
Definition of Accounting
• Accounting is an information system designed to record, classify and summarize systematically significant financial and other economic information about business firms, and analyses and interprets its results, with monetary unit as its main criterion.
CHAPTER10 《会计英语》
Unit 1 An Overview of Auditing
➢ TYPES OF AUDITS. ➢Operational Audits. ➢An operational audit is a review of any part of an organization's operating procedures and methods for the purpose of evaluating efficiency and effectiveness.
Unit 2 Audit Process
➢ AUDIT OBJECTIVES.
➢There are eight audit objectives:
(1)vali dity,
(2)com (hp6eal)enቤተ መጻሕፍቲ ባይዱmtsiece,nac
(3)own e(7r)schlaips,
(4)valu ation,
Unit 1 An Overview of Auditing
➢DEFINITION OF AUDITING.
Quantifiable Information and Established Criteria. Economic Entity.
Accumulating and Evaluating Evidence. Competent, Independent Person. Reporting.
Special Terms
3. recommendations to management 管理建议书,指审计人员在完成审计 后,就企业内部控制等方面存在的缺陷以书面形式向被审计单位管理当局所提交 的报告。如果提供的是经营审计服务,管理建议书是必不可少的,即使是财务报 表审计,注册会计师一般也要向管理当局提交一份管理建议书。
会计英语课件
accounting element _会__计_要__素__
2. Complete the following sentences.
❖ 1)Accounting is a _s_pe_c_ia_l l_a_ng_u_age of business. ❖ 2) The purpose of accounting is to provide
❖Is Accounting English difficult?
Suggestions for study
❖ Previewing the text is very important.
❖ 《An English –Chinese Dictionary of Accounting》，《英汉双解财会词典》
❖ Economic resources = equities ❖ Economic resources =creditor’s equity + owner’s
equity ❖ Accounting equation: assets = liabilities of transactions that affect owner’s equity
and know why they need the information; ❖ Understand the types of accounting information; ❖ Have a general idea of the professional fields of
accounting and their duties. ❖ Learn the accounting terms in this chapter and
use them in the translation task.
高级会计学英文课件 (3)
Copyright ©2012 Pearson Education, Inc. Publishing asdated Statements
Primarily benefit the owners and creditors of the parent Not primarily intended for the noncontrolling owners nor the subsidiary’s creditors Subsidiaries issue separate statements for the benefit of their owners and creditors
3-7
Who is a Subsidiary?
A corporation becomes a subsidiary when another corporation acquires controlling interest in its outstanding voting stock. In a 100 percent acquisition, the investee continues to operate as a separate legal entity. Subsidiaries, or affiliates, continue as separate legal entities and prepare their own financial reports.
Copyright ©2012 Pearson Education, Inc. Publishing as Prentice Hall
3-14
Cost, Fair Value, and Book Value
Acquisition cost, fair values of identifiable net assets and book values may differ. Allocate excess or deficiency of cost over book value and determine goodwill, if any. When BV = FV Cost > BV, excess is goodwill Cost < BV, excess is a gain on the bargain purchase
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NCI share – Preferred $10 income $10 dividend NCI share (10% common) $4 income
CI share (90%) $2 dividend
$36 income
$18 dividend
© 2009 Pearson Education, Inc. publishing as Prentice Hall
© 2009 Pearson Education, Inc. publishing as Prentice Hall 10-11
Parent Uses Cost Basis
Parent acquires subsidiary's preferred stock – Use cost method – Investment in subsidiary, PS is at cost – Dividends are recorded as income In the consolidation process – Preferred stock is eliminated at its book value – Noncontrolling interest, PS is recorded at book value of the preferred stock held by others – Investment is removed at its cost and any difference from book value is charged or credited to other paid in capital
© 2009 Pearson Education, Inc. publishing as Prentice Hall 10-8
Allocations
Income allocation: Sol's net income Amortizations Income to allocate Allocated to preferred Allocated to common Dividends Allocated to preferred Allocated to common 50 0 50 (10) 40 30 (10) 20
$500
(105)
395 $45
The book value of preferred is its call price (no arrearage), 105%($100 par value). Dividends are cumulative, so the current dividend is $10 = 10%($100 par value).
Book Value of PS is: Call or redemption price (par value if neither) Plus Dividends in arrears (if cumulative)
© 2009 Pearson Education, Inc. publishing as Prentice Hall
36 18 18 4
2 2
10 10
100 200 40 160 45
396 44 105
10-10
© 2009 Pearson Education, Inc. publishing as Prentice Hall
Parent Uses Constructive Retirement
Parent acquires subsidiary's preferred stock – Investment in subsidiary, PS is recorded at its book value – Any difference between book value and cost of the stock is an adjustment of other paid in capital – This is an owner transaction; no gain or loss is recorded Investment is carried at PS book value – Increase for dividends in arrears – Decrease later when declared
© 2009 Pearson Education, Inc. publishing as Prentice Hall
10-2
Subsidiary Preferred Stock, Consolidated Earnings Per Share, and Consolidated Income Taxation
© 2009 Pearson Education, Inc. publishing as Prentice Hall 10-7
Calculations for Prห้องสมุดไป่ตู้ferred Stock
Cost of 90% of Sol Implied value of Sol Sol's total equity Less book value of preferred stock Book value of common Excess, goodwill $396 $440
Chapter 10: Subsidiary Preferred Stock, Consolidated Earnings Per Share, and Consolidated Income Taxation
by Jeanne M. David, Ph.D., Univ. of Detroit Mercy to accompany Advanced Accounting, 10th edition by Floyd A. Beams, Robin P. Clement, Joseph H. Anthony, and Suzanne Lowensohn
Income from Sol Dividends Investment in Sol Noncontrolling interest share, CS Dividends Noncontrolling interest, CS Noncontrolling interest share, PS Dividends Preferred stock Common stock Other paid in capital Retained earnings Goodwill Investment in Sol Noncontrolling interest, CS Noncontrolling interest, PS
© 2009 Pearson Education, Inc. publishing as Prentice Hall
10-1
Preferred Stock, EPS, and Taxes: Objectives
1. Modify consolidation procedures for subsidiary companies with preferred stock in their capital structure. 2. Calculate basic and diluted earnings per share for a consolidated reporting entity. 3. Understand the complexities of accounting for income taxes by consolidated entities.
10-6
Example: PS Held by Outsiders
Poe buys 90% of Sol for $396 when Sol's equity consists of $100 preferred stock, $200 common stock, $40 other paid in capital and $160 retained earnings. The preferred stock is cumulative, nonparticipating, carries a 10% dividend and is callable at 105% of par value. There is no arrearage. During the year, Sol earns $50 and pays $30 in dividends.
Income allocated to PS is: Current period dividend • Irrespective of amount declared, if cumulative • Declared amount if noncumulative • Potentially more if participative Preferred stock dividend is: Face value x dividend rate • Also consider: • Arrearage • Participation
© 2009 Pearson Education, Inc. publishing as Prentice Hall
10-5
Review of Preferred Stock
Characteristics • Callable, redeemable • Cumulative or noncumulative • Participative or nonparticipative • Limited voting rights Most is cumulative and nonparticipating
© 2009 Pearson Education, Inc. publishing as Prentice Hall 10-4
CI share (90%) $2 dividend
$36 income
$18 dividend
© 2009 Pearson Education, Inc. publishing as Prentice Hall
© 2009 Pearson Education, Inc. publishing as Prentice Hall 10-11
Parent Uses Cost Basis
Parent acquires subsidiary's preferred stock – Use cost method – Investment in subsidiary, PS is at cost – Dividends are recorded as income In the consolidation process – Preferred stock is eliminated at its book value – Noncontrolling interest, PS is recorded at book value of the preferred stock held by others – Investment is removed at its cost and any difference from book value is charged or credited to other paid in capital
© 2009 Pearson Education, Inc. publishing as Prentice Hall 10-8
Allocations
Income allocation: Sol's net income Amortizations Income to allocate Allocated to preferred Allocated to common Dividends Allocated to preferred Allocated to common 50 0 50 (10) 40 30 (10) 20
$500
(105)
395 $45
The book value of preferred is its call price (no arrearage), 105%($100 par value). Dividends are cumulative, so the current dividend is $10 = 10%($100 par value).
Book Value of PS is: Call or redemption price (par value if neither) Plus Dividends in arrears (if cumulative)
© 2009 Pearson Education, Inc. publishing as Prentice Hall
36 18 18 4
2 2
10 10
100 200 40 160 45
396 44 105
10-10
© 2009 Pearson Education, Inc. publishing as Prentice Hall
Parent Uses Constructive Retirement
Parent acquires subsidiary's preferred stock – Investment in subsidiary, PS is recorded at its book value – Any difference between book value and cost of the stock is an adjustment of other paid in capital – This is an owner transaction; no gain or loss is recorded Investment is carried at PS book value – Increase for dividends in arrears – Decrease later when declared
© 2009 Pearson Education, Inc. publishing as Prentice Hall
10-2
Subsidiary Preferred Stock, Consolidated Earnings Per Share, and Consolidated Income Taxation
© 2009 Pearson Education, Inc. publishing as Prentice Hall 10-7
Calculations for Prห้องสมุดไป่ตู้ferred Stock
Cost of 90% of Sol Implied value of Sol Sol's total equity Less book value of preferred stock Book value of common Excess, goodwill $396 $440
Chapter 10: Subsidiary Preferred Stock, Consolidated Earnings Per Share, and Consolidated Income Taxation
by Jeanne M. David, Ph.D., Univ. of Detroit Mercy to accompany Advanced Accounting, 10th edition by Floyd A. Beams, Robin P. Clement, Joseph H. Anthony, and Suzanne Lowensohn
Income from Sol Dividends Investment in Sol Noncontrolling interest share, CS Dividends Noncontrolling interest, CS Noncontrolling interest share, PS Dividends Preferred stock Common stock Other paid in capital Retained earnings Goodwill Investment in Sol Noncontrolling interest, CS Noncontrolling interest, PS
© 2009 Pearson Education, Inc. publishing as Prentice Hall
10-1
Preferred Stock, EPS, and Taxes: Objectives
1. Modify consolidation procedures for subsidiary companies with preferred stock in their capital structure. 2. Calculate basic and diluted earnings per share for a consolidated reporting entity. 3. Understand the complexities of accounting for income taxes by consolidated entities.
10-6
Example: PS Held by Outsiders
Poe buys 90% of Sol for $396 when Sol's equity consists of $100 preferred stock, $200 common stock, $40 other paid in capital and $160 retained earnings. The preferred stock is cumulative, nonparticipating, carries a 10% dividend and is callable at 105% of par value. There is no arrearage. During the year, Sol earns $50 and pays $30 in dividends.
Income allocated to PS is: Current period dividend • Irrespective of amount declared, if cumulative • Declared amount if noncumulative • Potentially more if participative Preferred stock dividend is: Face value x dividend rate • Also consider: • Arrearage • Participation
© 2009 Pearson Education, Inc. publishing as Prentice Hall
10-5
Review of Preferred Stock
Characteristics • Callable, redeemable • Cumulative or noncumulative • Participative or nonparticipative • Limited voting rights Most is cumulative and nonparticipating
© 2009 Pearson Education, Inc. publishing as Prentice Hall 10-4