Tài liệu Kế Toán - Kiểm Toán

To compute cash payment use present value tables. Each payment includes both an interest amount and a principal amount. Interest expense or revenue: Effective interest rate × Outstanding balance of debt Interest expense or revenue Principal reduction: Cash amount – Interest component Principal reduction per period

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Product warranties inevitably entail costs. The amount of those costs can be reasonably estimated using commonly available estimation techniques. The estimate requires the following entry:

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Trading securities are presented on the financial statement as follows: Income Statement and Statement of Comprehensive Income: Fair value changes are included in the income statement in the periods in which they occur, regardless of whether they are realized or unrealized. Investments in trading securities do not affect other comprehensive incom...

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Assets held for saleinclude assets that managementhas committed to sell immediately intheir present condition andfor which sale is probable. Accelerated methods result in more depreciation in the early years of an asset’s useful life and less depreciation in later years of an asset’s useful life.

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Issuance of Equity Securities Asset acquired is recorded at the fair value of the asset or the market value of the securities, whichever is more clearly evident. If the securities are actively traded, market value can be easily determined. If the securities given are not actively traded, the fair value of the asset received, as determined by app...

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Estimate instead of taking physical inventory Less costly Less time-consuming Two popular methods of estimating ending inventory are the . . . Gross profit method Retail inventory method

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Changes in the ratios we discussed above often provide information about the quality of a company’s current period earnings. For example, a slowing turnover ratio combined with higher than normal inventory levels may indicate the potential for decreased production, obsolete inventory, or a need to decrease prices to sell inventory (which will then ...

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Recognition Depends on the earnings process; for most credit sales, revenue and the related receivables are recognized at the point of delivery. Initial valuation Initially recorded at the exchange price agreed upon by the buyer and seller. Subsequent valuation Initial valuation reduced to net realizable value by:   1.   Allowance for sale...

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Some pension plans create obligations during employees’ service periods that must be paid during their retirement periods. The amounts contributed during the employment period are determined using present value computations of the estimate of the future amount to be paid during retirement. On January 1, 2013, you are considering an investment tha...

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Minimum Disclosures Sales, income taxes, and net income Earnings per share Seasonal revenues, costs, and expenses Significant changes in estimates for income taxes Discontinued operations, extraordinary items, and unusual or infrequent items Contingencies Changes in accounting principles or estimates Information about fair value of financia...

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