一、Held-to-maturity Security,Trading securities和Available-for-sale securities
  公司在財(cái)報(bào)中將投資分為三類報(bào)告:持有至到期投資,交易證券,可供出售金融資產(chǎn)。
  Held-to-maturity Security(持有至到期投資):
  A held-to-maturity security is purchased with the intention of holding the investment to maturity.
  持有至到期投資:
  指企業(yè)有明確意圖并有能力持有至到期,到期日固定、回收金額固定或可確定的非衍生金融資產(chǎn)。
  財(cái)報(bào)中的記錄:
  這類證券在財(cái)務(wù)報(bào)表中以攤銷成本來報(bào)告,攤銷成本等于原始的發(fā)行價(jià)格減去本金的償還,加上折價(jià)的攤銷或是減去溢價(jià)的攤銷,再減去減值損失,連續(xù)市場價(jià)格的改變可以忽略。并且一般是以有特定到期日的債券形式,不像交易型證券,暫時(shí)的價(jià)格改變不會再財(cái)報(bào)中體現(xiàn),已經(jīng)實(shí)現(xiàn)的收益或損失在利潤表中報(bào)告。
  注:股票不能被分類到持有至到期的投資,因?yàn)楣善睕]有到期日。
  Trading securities(交易證券):
  Securities held by a company with the intent to trade them.Also called held-for-trading securities.
  交易型證券:
  以期在近期內(nèi)交易中獲利而購買的債券和證券。
  財(cái)報(bào)中的記錄:
  在資產(chǎn)負(fù)債表中以公允價(jià)值報(bào)告,未實(shí)現(xiàn)(在證券出售前市場價(jià)值的改變)的收益或者損失在利潤表中確認(rèn),如有衍生投資,則處理方法與交易證券一致。
  Available-for-sale securities(可供出售金融資產(chǎn))
  Debt and equity securities not classified as either held-to-maturity or held-for-trading
  securities.The investor is willing to sell but not actively planning to sell.
  可供出售金融資產(chǎn):
  持有的目的既不是為了短期內(nèi)交易也不是預(yù)期持有至到期的債券或資產(chǎn)。是投資者有意愿出售卻沒有積極去出售的資產(chǎn)。
  財(cái)報(bào)中的記錄:
  和交易型證券一樣,可供出售的金融資產(chǎn)在資產(chǎn)負(fù)債表上以公允價(jià)值報(bào)告,但是沒有實(shí)現(xiàn)的收益或損失不在利潤表中體現(xiàn),而是作為部分所有者權(quán)益在其他綜合利潤表中報(bào)告。
  三者在財(cái)報(bào)中的記錄如下:
  Held-to-maturity Security Trading securities Available-for-sale securities
  Reported on B/S Amortized cost Fair value
  Fair value
  Unrealized G/L not reported reported in income statement reported in equity(OCI)
  Realized G/L reported in income statement reported in income statement reported in income statement
  例:Purchase a 6%bond at par,for 1000 at the beginning of the year.Interest rate have recently increase and the market value declined to 950.Determine the bond’s effect under each classification of securities:
  HTM:
  B/S:Financial Asset 1000
  I/S:Interest Income 60
  Trading:
  B/S:Financial Asset 950
  I/S:Interest Income 60 and Unrealized Loss 50
  AFS
  B/S:Financial Asset 950 and OCI(Equity)50
  I/S:Interest Income 60
  解析:按面值1000元的價(jià)格購買了息票率為6%的債券,最近利率增加市場價(jià)格下降到950,這個(gè)債券在不同分類下的報(bào)表下應(yīng)記錄如下:

  持有到期資產(chǎn)交易型金融資產(chǎn)可供出售資產(chǎn)
  資產(chǎn)負(fù)債表資產(chǎn)1000資產(chǎn)950資產(chǎn)950權(quán)益50
  利潤表利息收入60利息收入60未實(shí)現(xiàn)損失50利息收入60
  二、Product costs和Period costs的劃分
  Product costs(產(chǎn)品成本):
  These costs,known as product costs,are capitalized in the Inventories account on the balance sheet and include:
  Purchase cost less trade discounts and rebates.
  Conversion costs including labor and overhead
  Other costs necessary to bring the inventory to its present location and condition.
  By capitalizing inventory cost as an asset,expense recognition is delayed until the inventory is sold and revenue is recognized.
  產(chǎn)品成本:
  在資產(chǎn)負(fù)債表中可以資本化進(jìn)入存貨賬戶的成本,包括剔除折扣后的購買成本,加工成本(包括勞動力和雜項(xiàng)費(fèi)用),必要的運(yùn)輸和儲藏成本。
  這些存貨成本都資本化作為一項(xiàng)資產(chǎn),費(fèi)用是延遲確認(rèn)的,只有當(dāng)存貨銷售出去且收入得以確認(rèn)時(shí)再確認(rèn)。
  Period costs(期間成本)
  Not all inventory costs are capitalized;some costs are expensed in the period incurred.These costs,known as period costs,include:
  Abnormal waste of materials,labor,or overhead.
  Storage costs(unless required as part of production).
  Administrative overhead.
  Selling costs.
  期間成本:
  并不是所有的存貨成本都可以資本化,一些成本在發(fā)生時(shí)就需要立即費(fèi)用化,這部分成本就是期間成本,包括:
  非正常的原材料、勞動力以及雜項(xiàng)費(fèi)用的損耗,生產(chǎn)中非必要的貯藏成本,銷售成本,管理中支出的雜項(xiàng)費(fèi)用。
  例:Diabelli Inc.is a manufacturing company that is operating at normal capacity levels.Which of the following inventory costs is most likely to be recognized as an expense on Diabelli’s financial statements when the inventory is sold?
  A)Administrative overhead.
  B)Allocation of fixed production overhead.
  C)Selling cost.
  解析:B is correct.Assuming normal capacity levels,allocation of fixed production overhead is a product cost that is capitalized as part of inventory.Thus,this cost will not be recognized as an expense until the inventory is sold(it becomes part of COGS for that period).Administrative overhead and selling costs are period costs that must be expensed in the period incurred.
  分配到固定生產(chǎn)的管理費(fèi)的成本,是資本化作為存貨的一部分,因此,這個(gè)成本將在存貨銷售以后才確認(rèn)費(fèi)用的,管理的雜項(xiàng)費(fèi)和銷售成本都屬于期間成本,在發(fā)生時(shí)就要費(fèi)用化。
  三、了解LIFO Reserve與LIFO Liquidation的關(guān)系
  LIFO Reserve(后進(jìn)先出法的留存):
  The difference between the reported LIFO inventory carrying amount and the inventory amount that would have been reported if the FIFO method had been used.
  LIFO Reserve=FIFO Inventory–LIFO Inventory
  后進(jìn)先出法的留存:
  指的是當(dāng)前先進(jìn)先出法存貨的賬面價(jià)值與后進(jìn)先出法的賬面價(jià)值之差。
  如果公司使用了后進(jìn)先出法,美國會計(jì)法要求在資產(chǎn)負(fù)債表或是財(cái)報(bào)附注中披露后進(jìn)先出法的留存總額,這個(gè)披露可以為分析師在從后進(jìn)先出法轉(zhuǎn)到先進(jìn)先出法時(shí),調(diào)整銷貨成本、期末存貨時(shí)提供必要的信息。
  具體調(diào)整為,后進(jìn)先出法下的存貨價(jià)值,加上后進(jìn)先出法的留存就是在先進(jìn)先出法下報(bào)告的存貨價(jià)值。對于后進(jìn)先出到先進(jìn)先出法下銷貨成本的調(diào)整,如果此期間后進(jìn)先出法的留存上升的話,銷貨成本的調(diào)整要減去上升的部分,如果留存下降的話,銷貨成本的調(diào)整要減去下降的部分。
  LIFO Liquidation(后進(jìn)先出法的清算):
  A LIFO liquidation incurs when purchased volume is less sales volume.Or,the decrease in volume or quantity of inventory.In this case,the prices for goods being sold are no longer recent prices.
  后進(jìn)先出法的清算:
  當(dāng)購買量減去銷量下降時(shí),或存貨量下降的時(shí)候,會發(fā)生后進(jìn)先出法的清算,這種時(shí)候,商品不再以最近的價(jià)格銷售。LIFO清算可以減少當(dāng)期銷售成本,增加當(dāng)期利潤,因?yàn)楣芾韺又灰獪p少當(dāng)期采購,就會導(dǎo)致以前年度購買的期初存貨被“清算”,從而虛增當(dāng)期利潤。
  后進(jìn)先出法清算發(fā)生的原因:
  后進(jìn)先出法(LIFO)的缺點(diǎn)在于容易被用來操縱利潤,即使用所謂的“后進(jìn)先出法清算(LIFO liquidation)”操縱手法。簡單地說,有可能是管理層的蓄意操控,比如,經(jīng)濟(jì)衰退時(shí)期顧客的需求下降,公司一般會選擇減庫存而不是購新貨,分析師應(yīng)該認(rèn)識到管理層是有機(jī)會通過后進(jìn)先出法清算來操縱并虛增利潤的,但這種高利潤是不可持續(xù)的,因此財(cái)務(wù)報(bào)表中要求披露后進(jìn)先出法的留存是可以判斷是否有清算的發(fā)生,下降的后進(jìn)先出法留存暗示著清算的發(fā)生。
  例:Assume U.S.GAAP(generally accepted accounting principles)applies unless otherwise noted.A company uses the LIFO inventory method,but most of the other companies in the same industry use FIFO.Which of the following best describes one of the adjustments that would be made to the company’s financial statements to compare it with other companies in the industry?The amount reported for the company’s ending inventory should be:
  A.increased by the ending balance in its LIFO reserve.
  B.decreased by the ending balance in its LIFO reserve.
  C.increased by the change in its LIFO reserve for that period.
  解析:A is correct;LIFO Reserve=FIFO Inventory–LIFO Inventory,Adding the ending balance in the LIFO reserve to the LIFO inventory would equal the ending balance for inventory on a FIFO basis.
  根據(jù)后進(jìn)先出留存的等式可以算出。
  四、Conservative accounting和aggressive accounting的具體比較
  Conservative Accounting(穩(wěn)健的會計(jì)原則):
  Conservative accounting uses methods that are more likely to understate,rather than overstate,financial performance.In most cases,managers and investors want their businesses to be conservative in their accounting practices.This is because conservative accounting is more likely to undervalue investments rather than overvalue them,leading to management that is more likely to carefully manage risks and exceed expectations.A business that plans conservatively for growth essentially builds in considerable room for error.
  穩(wěn)健的會計(jì)原則:
  使用的會計(jì)方法傾向于低估而不是高估財(cái)務(wù)表現(xiàn)。大部分情況下,管理層和投資者都希望是穩(wěn)健的會計(jì)準(zhǔn)則應(yīng)用在公司財(cái)報(bào)中,因?yàn)榉€(wěn)健的會計(jì)準(zhǔn)則傾向于低估運(yùn)營表現(xiàn),導(dǎo)致管理層更為仔細(xì)地管理風(fēng)險(xiǎn),因此一般會比預(yù)期的表現(xiàn)的好,一個(gè)謹(jǐn)慎的商業(yè)計(jì)劃在考慮增長時(shí)會將風(fēng)險(xiǎn)因素考慮在內(nèi)。
  Aggressive Accounting(激進(jìn)的會計(jì)原則):
  Aggressive accounting,by contrast,might employ more creative techniques that result in overstated financial performance.Unfortunately,many companies are often pressured to do this so they can present the company's performance in the best light for investors and analysts.Nonetheless,aggressive accounting exposes investors and managers to more risk because they are less likely to manage carefully for risks if they're more comfortable with their performance.In addition,aggressive accounting is more likely to result in restatements of performance,which can diminish the credibility of a company's management
  激進(jìn)的會計(jì)原則:
  使用一些創(chuàng)造性的方法導(dǎo)致高估財(cái)務(wù)報(bào)表的表現(xiàn)。不幸的是,很多公司會迫于壓力去選擇激進(jìn)的方法由此給投資者和分析師呈現(xiàn)出*4的一面,但是,這樣管理層也不會特別仔細(xì)的控制風(fēng)險(xiǎn)因此給投資者帶來了更大的風(fēng)險(xiǎn),激進(jìn)的會計(jì)原則有可能導(dǎo)致財(cái)務(wù)表現(xiàn)的重新評估或調(diào)整,因此會減少管理層的公信力。
  兩者在會計(jì)處理上的對比:

  激進(jìn)的保守的
  當(dāng)前的期間成本資本化當(dāng)前的期間成本費(fèi)用化
  評估可折舊的資產(chǎn)以更長的折舊期限評估可折舊的資產(chǎn)以更短的折舊期限
  過高的評估了殘值更低的評估殘值
  直線折舊法加速折舊法
  延遲確認(rèn)發(fā)生的損失損失發(fā)生時(shí)及時(shí)確認(rèn)
  更少的應(yīng)記或壞賬費(fèi)用備抵更多的應(yīng)記或壞賬費(fèi)用備抵
  在遞延所得稅資產(chǎn)上的價(jià)值備抵較小在遞延所得稅資產(chǎn)上的價(jià)值備抵較大
  例:In general,firms making aggressive accounting decisions will report book values that are:
  A.higher.
  B.consistent with fair market value.
  C.Lower.
  解析:In general,firms making aggressive(conservative)accounting decisions will report higher(lower)book values and lower(higher)future earnings.
  激進(jìn)的會計(jì)方法會使公司的賬面價(jià)值過高,從而高估公司的表現(xiàn)。
  五、Sales-type lease和direct financing lease的區(qū)別
  從出租人的角度,在美國會計(jì)法(U.S.GAAP)下,資本租賃可以分為銷售型租賃或是直接融資租賃,如果租賃費(fèi)的當(dāng)前價(jià)值超過了資產(chǎn)的賬面價(jià)值,這個(gè)租賃就是銷售型的租賃;如果租賃費(fèi)的當(dāng)前價(jià)值等于資產(chǎn)的賬面價(jià)值,這個(gè)租賃就是直接融資租賃;
  在國際會計(jì)法(IFRS)下,不區(qū)分銷售租賃和融資租賃。但如果出租人為租賃資產(chǎn)的生產(chǎn)者或制造商,租賃費(fèi)和銷售型租賃類似的會計(jì)方法在IFRS下也是被允許的。
  Sales-type lease(銷售型租賃):
  A sales-type lease receives the same accounting treatment of a direct-financing lease except the profit of the sale is recognized at inception of the lease as well as the interest income received over the lease term.The lessor records a gross profit from the lease equivalent to the present value of the lease payments less the cost of the asset.
  銷售類型的租賃:
  銷售類型的租賃的出租人一般是生產(chǎn)商或者交易者,因?yàn)槌鲎獾淖赓U的成本一般小于它的公允價(jià)值。
  資產(chǎn)負(fù)債表的計(jì)量:
  在租賃開始時(shí),出租人根據(jù)租賃支付的現(xiàn)值作為銷售收入,資產(chǎn)的當(dāng)前價(jià)值就是成本,兩者之差作為利潤。
  現(xiàn)金流量表上的計(jì)量:
  租金收入中的利息部分作為運(yùn)營現(xiàn)金的流入,本金部分作為投資現(xiàn)金的流入。
  Direct financing lease(直接融資租賃):
  A direct-financing lease combines a sale and financing transaction.The lessor records a sale on its books,removing the asset from its books and replacing it with a receivable from the lease.During the lease term,the lessor receives interest income,calculated by taking the internal rate of return of the asset.The cash inflow equals the lease payments and the cash outflow is equal to the book value of the asset.
  直接融資租賃:
  租賃費(fèi)的現(xiàn)值等于租賃資產(chǎn)現(xiàn)值的一種租賃類型。
  資產(chǎn)負(fù)債表的計(jì)量:
  租賃的開始,資產(chǎn)從資產(chǎn)負(fù)債表中移走,增加了租賃應(yīng)收賬款,當(dāng)收到租賃費(fèi)時(shí),每一期支付的本金部分從應(yīng)收賬款中減去。出租人在租賃的開始時(shí)不確認(rèn)利潤。
  利潤表的計(jì)量:
  每一期租賃費(fèi)的利息部分等于每一期期初的租賃應(yīng)收款乘以利率。
  現(xiàn)金流量表中:
  租賃費(fèi)當(dāng)中利息部分的收入記為運(yùn)營現(xiàn)金流,本金的部分記為投資現(xiàn)金流。
  兩者的對比:

 

  報(bào)表銷售類型的租賃直接融資租賃
  利潤表的開始毛利潤=銷售收入-銷貨成本
  銷售收入=租賃費(fèi)的現(xiàn)值
  銷貨成本=資產(chǎn)的成本-殘值的現(xiàn)值不確認(rèn)毛利
  資產(chǎn)負(fù)債表中的初始計(jì)量租賃應(yīng)收款=所有租賃費(fèi)的現(xiàn)值+清算價(jià)值的現(xiàn)值租賃應(yīng)收款=資產(chǎn)的成本
  利潤表的期間計(jì)量利息收入(期初的租賃應(yīng)收款×市場利率)
  現(xiàn)金流量表的初始計(jì)量沒有影響
  現(xiàn)金流量表的期間計(jì)量運(yùn)營現(xiàn)金流:現(xiàn)金流入
  投資現(xiàn)金流:現(xiàn)金流入
  例:In a sales-type lease,a lessor recognizes a gross profit at the inception of the lease equaling the:
  A.sale price of the leased asset plus the present value of the minimum lease payments.
  B.sale price of the leased asset less the present value of the minimum lease payments.
  C.present value of the minimum lease payments less the cost of the leased asset.
  解析:C is correct,In a sales-type lease,the implicit interest rate is such that the present value of MLP is the selling price of the asset.At the time of the lease inception,the lessor will recognize a gain equaling the present value of the MLPs,less the cost of the leased asset.
  銷售型租賃在租賃初始計(jì)量時(shí),出租人將會把租賃最小支付額的現(xiàn)值減去租賃資產(chǎn)的成本確認(rèn)為收益。