企业财务管理的经典实用课件管理会计教案本量利分析Word文件下载.docx
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企业财务管理的经典实用课件管理会计教案本量利分析Word文件下载.docx
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Also,notalltheexpensesarepaidincash.
Therefore,profitisameasurementofachievement,ratherthanofcashgenerated.
ThesearetheconceptsofAccrualsAccounting.
Balancesheetandincomestatementsarepreparedonthebasisofaccrualsaccounting.
Cashflowstatementsfollowcashbasisofaccounting.
Thematchingconvention
Expensesshouldbematchedtotherevenuetheyhelptogenerate.
Forexample:
anincomestatementshouldincludeallexpensesincurredingeneratingthereportedrevenue.
Thismeansthattheexpensereportedmaynotbethesameasthecashexpendedonthatexpenseinanaccountingperiod.
Whentheexpenseismorethanthecashpaid
Afirmpays2%salescommissiontostaff.
Totalsalesforyearare?
300,000
Commissionstobepaid=0.02x300,000=?
6,000
However,atyearend,only?
5,000hasbeenpaid…
Recognizingexpenses:
Accountingforsalescommission
Salescommissionexpense?
Incomestatement(profitandlossaccount)
Balancesheetatyearend
Cash?
5,000
ACPayable?
1,000
Cash-?
5000
Cashflowstatement
Whentheamountpaidduringtheyearis
morethanthefullexpenseoftheperiod
Afirmpaysitsrentquarterlyinadvance(1stJan;
1stApril,1stJulyand1stOct).
Onthelastdayofitsaccountingyear(31stDecember),itpaysthenextquarter’srent(?
4,000)tothefollowing31March,whichwasadayearlierthanrequired.
Tosummarise…
Rentfor4quarters=4X?
4,000=?
16,000.
Cashpayments=5X?
20,000.
Whentheamountpaidduringtheyearismorethanthefullexpenseoftheperiod:
Accountingforrentpayable
Rentpayableexpense?
16,000
Incomestatement
20,000
Prepaidexpense?
4,000
Incomestatementlayout
25,500
Profitfortheyear
(1,100)
Loaninterest
2,000
Interestreceivedfrominvestments
24,600
Operatingprofit
(600)
Depreciation–motorvan
(1,000)
Depreciation–fixturesandfittings
(3,400)
Motorvehiclerunningexpenses
Insurance
(1,200)
Telephoneandpostage
(7,500)
Heatandlight
(14,200)
Rentandrates
(24,500)
Salariesandwages
78,000
Gross/Tradingprofit
154,000
Costofsales
232,000
Salesrevenue
?
Thecalculationofdepreciation
Tocalculateadepreciationchargeforaperiod,fourfactorshavetobeconsidered:
Theusefullifeoftheasset
Theresidualvalueoftheasset
Thecostoftheasset
Thedepreciationmethod.
WhatisDepreciation?
Depreciationisanon-cashexpensethatreducesthevalueofanassetovertime.Assetsdepreciatefortworeasons:
Wearandtear.Forexample,anautowilldecreaseinvaluebecauseofthemileage,wearontires,andotherfactorsrelatedtotheuseofthevehicle.
Obsolescence.Assetsalsodecreaseinvalueastheyarereplacedbynewermodels.Lastyear&
#039;
scarmodelislessvaluablebecausethereisanewermodelinthemarketplace.
Calculationofdepreciation
Thecostofanasset
Includesallcostsincurredbythebusinesstobringtheassettoitsrequiredlocationandtomakeitreadyforuse.
Includescostofasset,deliverycostsandinstallationcosts.
Physicallifeandeconomiclife.
Economiclifeisaffectedbytechnologicalprogress.
Economiclifemaybemuchshorterthanphysicallife.
Forchargeofdepreciation,economiclifeisconsidered.
Disposalvalueoftheassetattheendofitseconomiclife.
Depreciationmethods
Thereareanumberofdepreciationmethods.
Onceadepreciationmethodisadopted,itcannotbechangedwithoutavalidreason(consistencyandcomparability).
Methods:
1.Straightlinemethod(thesameamountisdeductedeachyear)
2.Reducingbalancemethod(ahighannualdepreciationchargeintheearlyyearsofanasset&
slifebuttheannualdepreciationchargereducesprogressivelyastheassetages).
Expenserecogniseddependson:
Cost(C)
Usefullife(N)
Scraporresidualvalue(S)
Depreciationmethod:
Straight-linemethod
DepreciationCharge=(C–S)
N
ReducingBalancemethod
DepreciationCharge=constantpercentageonthedecreasingbalance,beginningwiththeoriginalcostandreducingittoscrapvalue.
Equipment
Purchase?
75,000(C)
Life5years(N)
Scrapvalue?
5,000(S)
DepreciationCharge=(75,000–5,000)/5=?
14,000
Reducefixedasset,andincreaseexpenses
Depreciationasaperiodcost
(70,000)
Total
(5000)
Sale
(14,000)
Year5
19,000
Year4
33,000
Year3
47,000
Year2
61,000
Year1
75,000
(75,000)
Jan1
Rev-Exps
Cash
Reducingbalancemethod
Appliesafixedpercentageofdepreciationonthedecreasingbalance,beginningwiththeoriginalcostandreducingittoscrapvalue.
Higherannualdepreciationchargesintheinitialyears,andlowerchargesinlateryears
Depreciation=
Costofmachine?
40,000.Usefullife4years.Estimatedresidualvalueattheendof4years?
1,024
Depreciation%=60%everyyear
Selectionofdeprecationmethod
Themostappropriatemethodistheonethatbestmatchesexpensetoeconomicbenefits.
Forassetsevenlyconsumedovertime(e.g.buildings),straight-linemethodmaybeapplicable.
Forassetsthatlosetheirefficiencyovertime(e.g.machinery),reducingbalancemethodmaybeapplicable.
Taximplications
Costinginventories
Inventory(stock)comprises:
rawmaterials,workinprogressandfinishedgoods.
Importance
Affectpatternofprofit.
Information
Costofsales–P&
amp;
L.
Unsoldandunusedstock–BalanceSheet.
Calculationofcostofsales
Case
(1):
PricesareNOTchanging:
Costofsales(COS)orcostofgoodssold(COGS)inaperiod=
openingstock+purchases–closingstock
Example:
Afirmhas?
2,000ofstockat1stJanuary2009;
itbuys?
14,000ofstockovertheyearandhas?
3,000ofstockleftat31stDec.
COGS=2,000+14,000-3,000=?
13,000
Lastin,firstout(LIFO)
Weightedaveragecost(AVCO)
Firstin,firstout(FIFO)
Commonassumptionsusedare:
Case
(2):
Inventorycostingwhenpricesarechanging?
Example
Calculatecostofsalesandclosingstockgiventheinformationbelow:
1JanNostock
1FebBuy1,000@15=15000
1MarBuy500@18=9000
1MaySell500@30=15000
1JulyBuy1,000@2020000
1NovSell400@35=14000
2,50044000
900=29000
FIFO
Closingstock=100@?
15+500@?
18+1000@?
20=?
30,500
13,500
44,000
1600
(400)@?
15
1Nov
36,500
1000@?
20
1July
16,500
7,500
(500)@?
1May
24,000
9,000
500@?
18
1Mar
15,000
1Feb
Balance
StockA/C
Costof
Sales
Purchase
Cost
LIFO
Closingstock=1000@?
15+600@?
20=?
27,000
17,000
8,000
(400)@?
35,000
(500)@?
AVCO
Closingstock=1,600@?
18=?
28,800
15,200
7,200
36,000
16
AVCO:
Notes
On1stMarch
Costofstock=24,000
Stockunits=1,000+500=1,500
AVCO=24,000/1,500=?
On1stJuly
Costofstock=36,000
Stockunits=1,000+500–500+1000=2,000
AVCO=36,000/2,000=?
Summary
Closingstock
13,800
12,000
15,500
Profit
29,000
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