中级财务会计会计与货币的时间价值.ppt

Click to edit Master title style,Click to edit Master text styles,Second Level,Third Level,Fourth Level,Fifth Level,Chapter 6-,*,Accounting and the Time Value of Money,Chapter,6,Intermediate Accounting,12th Edition,Kieso,Weygandt,and Warfield,会计与货币的时间价值,单笔金额的终值,单笔金额的现值,其他未知数的解决,基本的时间价值概念,单笔金额问题,年金,更复杂的情况,现值计量,应用,利息的本质,单利,复利,基本变量,普通年金的终值,期初应付年金的终值,年金终值问题示例,普通年金的现值,期初应付年金的现值,年金现值问题示例,递延年金,长期债券的估价,债券折价/溢价摊销的实际利率法,选择适当的利率,预期现金流示例,利息的魔力,曼哈顿是纽约的境经济金融中心；这里聚集着华尔街、帝国大厦、格林威治村、中央公园、联合国总部、大都会艺术博物馆、大都会歌剧院等。在2000年，曼哈顿岛价值,2,500,000,000,美元,.,在1626年，当从美国本土印第安人手中买来时，仅仅花费了,$24.,241.05,377,=200000000,241.1,377,=960000,利息的魔力,存,$10,000,在一个免税的退休账户里，每年有12%的收益率，那么10年后，你将得到,$22,080.,如果收益率再增加4%，那么就会得到,$32,620,；相当于三倍于你的初始投资,.,票据,租赁,养老金和其他退休福利,长期资产,基于现值的会计计量：,基本的时间价值概念,偿债基金,企业合并,披露,分期付款合同,LO 1 Identify accounting topics where the time value of money is relevant.,对资金的使用支付价款,.,收到或支出的现金超过借出或借入的金额（本金）,%,信用风险,财务交易中利息的金额是三个变量的函数,:,本金,-,借入或投资的金额,.,利率,-,未偿还本金的一定百分比,.,时间,-,本金未偿还的年数或一年内的期数,.,利息的本质,基本的时间价值概念,LO 1 Identify accounting topics where the time value of money is relevant.,只计算本金的利息,.,LO 2 Distinguish between simple and compound interest.,单利,ILLUSTRATION:,在2007,.1.,2,Tomalczyk,以7%的年利率借款 20,000美元3年.计算每年的利息费用.,Principal$20,000,Interest ratex 7%,Annual interest,$1,400,Federal law requires the disclosure of interest rates on an,annual basis,in all contracts.,FULL YEAR,复利计息包括,本金,尚未支付或收到的利息,(,假设利息继续用于储蓄,).,实际经济中，通常采用复利计算,.,LO 2 Distinguish between simple and compound interest.,复利,LO 2 Distinguish between simple and compound interest.,ILLUSTRATION:,On January 2,2007,Tomalczyk borrows$20,000 for 3 years at a rate of 7%per year.Calculate the total interest cost for all three years,assuming interest is compounded annually.,复利,LO 3 Use appropriate compound interest tables.,复利表,Table 1,-,1元终值表,Table 2,-,1元现值表,Table 3,-,1元普通年金终值表,Table 4,-,1元普通年金现值表,Table 5,-,1元期初应付年金现值表,Five Tables in Chapter 6(page 302-311),期数,=,年数 x 每年复利其次数.,复利期间利率,=,年利率除以每年复利次数.,LO 3 Use appropriate compound interest tables.,复利,复利的频率显著影响收益率.例如，9%的年利率按天复利，收益率是9.42%.,9%:,Statednominalface rate,How compounding affects,实际收益率,for a$10,000 investment.,Illustration 6-5,Effective Yield=(1+i),n,-1,where i is face rate,n is the number of periods.,LO 4 Identify variables fundamental to solving interest problems.,复利,利率,期间数,终值,现值,复利问题的基本变量,Illustration 6-6,LO 5 Solve future and present value of 1 problems.,单笔金额问题,单笔金额的终值,用现值（本金）乘以终值系数,.,FV=PV(FVF,n,i,),Illustration:,BE6-1,Steve Allen,投资,$10,000,在一个基金里，收益率为8%，按日复利（,注意：按日复利,）。3年之后会投资收入为多少,?,BE6-1,Steve Allen,投资$10,000在一个基金里，收益率为8%，,按日复利,。3年之后会投资收入为多少?,0,1,2,3,4,5,6,Present Value$10,000,What table do we use?,单笔金额问题,Future Value?,LO 5 Solve future and present value of 1 problems.,See page 302-303,Table 6-1,FV=PV(FVF,n,i,),Table 6-1,What factor do we use?,单笔金额问题,LO 5 Solve future and present value of 1 problems.,Table 6-1,$10,000 x 1.25971 =$12,597,单笔金额问题,LO 5 Solve future and present value of 1 problems.,Present Value,Factor,Future Value,单笔金额问题,LO 5 Solve future and present value of 1 problems.,PROOF-Future Value of a Single Sum,BE6-1,Steve Allen,投资$10,000在一个基金里，收益率为8%，,按日复利,。3年之后会投资收入为多少?,Table 6-1,What factor do we use?,单笔金额问题,LO 5 Solve future and present value of 1 problems.,6 compounding periods,4%interest per period,Table 6-1,单笔金额问题,LO 5 Solve future and present value of 1 problems.,$10,000 x 1.26532 =$12,653,Present Value,Factor,Future Value,LO 5 Solve future and present value of 1 problems.,单笔金额问题,单笔金额的现值,用终值乘以现值系数.,Illustration:,BE6-2,Itzak Perlman,在4年之后需要,$20,000,。那么他在今天需要投资多少呢？假设年利率为12%，,按年复利。,Table 6-2,What factor do we use?,Single-Sum Problems,LO 5 Solve future and present value of 1 problems.,Table 6-2,Single-Sum Problems,LO 5 Solve future and present value of 1 problems.,$20,000 x .63552 =$12,710,Future Value,Factor,Present Value,Table 6-2,What factor do we use?,Single-Sum Problems,LO 5 Solve future and present value of 1 problems.,Table 6-2,Single-Sum Problems,LO 5 Solve future and present value of 1 problems.,$20,000 x .62317 =$12,463,Future Value,Factor,Present Value,FV=PV(1+r),t,4,个参数，如果你知道3个，就可以计算第4个。,使用金融计算器。,终值系数,:FV(r,t)=(1+r),t,现值系数,:PV(r,t)=1/(1+r),t,PV,FV:accumulate,FV,PV:discount,PV=FV(1+r),t,年金,定期支付或者收入相等的金额（称为租金）,租金之间的期间间隔相同,每一间隔进行复利,.,年金包含下列内容:,LO 6 Solve future value of ordinary and annuity due problems.,普通年金,-,租金在每期期末发生.,期初应付年金,-,租金在每期期初发生.,两,类,LO 6 Solve future value of ordinary and annuity due problems.,普通年金的终值,租金在每期期末发生,.,在第一期没有利息,.,年金,0,1,Present Value,2,3,4,5,6,7,8,$20,000,20,000,20,000,20,000,20,000,20,000,20,000,20,000,Future Value,BE6-13,Bayou Inc.,将在未来8年，每年12月31日存,$20,00,0，每年的收益率为12%。最后一次存款后他将得到多少？,0,1,Present Value,What table do we use?,Future Value of an Ordinary Annuity,2,3,4,5,6,7,8,$20,000,20,000,20,000,20,000,20,000,20,000,20,000,20,000,Future Value,LO 6 Solve future value of ordinary and annuity due problems.,Table 6-3,What factor do we use?,Future Value of an Ordinary Annuity,LO 6 Solve future value of ordinary and annuity due problems.,Table 6-3,Future Value of an Ordinary Annuity,$20,000 x 12.29969 =$245,994,Deposit,Factor,Future Value,LO 6 Solve future value of ordinary and annuity due problems.,LO 6 Solve future value of ordinary and annuity due problems.,期初应付年金的终值,租金发生在每期期初,.,第一期就会有利息开始累积,.,期初应付年金的比普通年金多一期的利息累计期数,.,期初应付年金终值系数=普通年金终值系数乘以1加利率之和,年金,0,1,2,3,4,5,6,7,8,20,000,20,000,20,000,20,000,20,000,20,000,20,000,$20,000,Future Value,Bayou Inc.will deposit$20,000 in a 12%fund at the,beginning,of each year for 8 years beginning January 1,Year 1.What amount will be in the fund at the end of Year 8?,0,1,Present Value,What table do we use?,期初应付年金的终值,2,3,4,5,6,7,8,$20,000,20,000,20,000,20,000,20,000,20,000,20,000,20,000,Future Value,LO 6 Solve future value of ordinary and annuity due problems.,Table 6-3,What factor do we use?,LO 6 Solve future value of ordinary and annuity due problems.,期初应付年金的终值,Table 6-3,Deposit,Factor,Future Value,LO 6 Solve future value of ordinary and annuity due problems.,期初应付年金的终值,12.29969 x,1.12,=13.775652,$20,000 x 13.775652 =$275,513,LO 7 Solve present value of ordinary and annuity due problems.,普通年金现值,一系列未来相等时间间隔，等量的支出或收入的金额的现值,定期的租金在每期期末支付,.,普通年金现值,0,1,Present Value,2,3,4,19,20,$100,000,100,000,100,000,100,000,100,000,.,100,000,Jaime Yuen,赢得了$2,000,000 的乐透.她会在未来20年，每年年末收到$100,000.她实际赢了多少钱呢?假设利率为8%.,0,1,Present Value,What table do we use?,2,3,4,19,20,$100,000,100,000,100,000,100,000,100,000,普通年金现值,.,LO 7 Solve present value of ordinary and annuity due problems.,100,000,Table 6-4,What factor do we use?,普通年金现值,LO 7 Solve present value of ordinary and annuity due problems.,Table 6-4,普通年金现值,LO 7 Solve present value of ordinary and annuity due problems.,$100,000 x 9.81815 =$981,815,Receipt,Factor,Present Value,LO 7 Solve present value of ordinary and annuity due problems.,Present Value of an Annuity Due,Present value of a series of equal amounts to be withdrawn or received at equal intervals.,Periodic rents occur at the beginning of the period.,期初应付年金的现值,0,1,Present Value,2,3,4,19,20,$100,000,100,000,100,000,100,000,100,000,.,100,000,Jaime Yuen wins$2,000,000 in the state lottery.She will be paid$100,000 at the,beginning,of each year for the next 20 years.How much has she actually won?Assume an appropriate interest rate of 8%.,0,1,Present Value,What table do we use?,2,3,4,19,20,$100,000,100,000,100,000,100,000,100,000,.,LO 7 Solve present value of ordinary and annuity due problems.,100,000,期初应付年金的现值,Table 6-5,What factor do we use?,LO 7 Solve present value of ordinary and annuity due problems.,期初应付年金的现值,Table 6-5,LO 7 Solve present value of ordinary and annuity due problems.,期初应付年金的现值,$100,000 x 10.60360 =$1,060,360,Receipt,Factor,Present Value,LO 8 Solve present value problems related to deferred annuities and bonds.,租金在特定期间之后才开始的年金,.,终值,-,计算递延年金终值与非递延年金的终值相等,.,现值,-,必须确认在递延期间原始投资产生的利息,.,递延年金,0,1,2,3,4,19,20,100,000,100,000,100,000,.,Future Value,Present Value,例如：假设萨顿公司计划6年后购买土地建设新的公司总部。由于现金流问题，预算在第4、5、6年年末存入80000美元存款，获得的利息率是5%。第六年年末累计的终值将会是多少？,例：汤姆开发并注册了一个学习高级会计用的教育软件。他答应将版权出售给校园微系统公司，6年内每年收到5000美元，这比支付将在5年后开始。如果年利率为8%，该六期支付的现值是多少？,另一方法:,LO 8 Solve present value problems related to deferred annuities and bonds.,两个现金流：,债券期间每期利息支付,(,年金,).,到期时本金的支付,(,单笔金额,).,债券的市场价值是二者的现值之和,.,长期债券的估价,0,1,2,3,4,9,10,70,000,70,000,70,000,$70,000,.,70,000,70,000,1,000,000,BE6-15,Arcadian Inc.,公司发行了$1,000,000 的债券，利率为7%，10年到期，利息每年年末支付。当前市场利率为8%。发行债券后，,Arcadian,公司,会收到多少？,0,1,Present Value,2,3,4,9,10,70,000,70,000,70,000,$70,000,.,70,000,长期债券的估价,1,070,000,LO 8 Solve present value problems related to deferred annuities and bonds.,Table 6-4,LO 8 Solve present value problems related to deferred annuities and bonds.,$70,000 x 6.71008 =$469,706,Interest Payment,Factor,Present Value,PV of Interest,长期债券的估价,Table 6-2,LO 8 Solve present value problems related to deferred annuities and bonds.,$1,000,000 x .46319 =$463,190,Principal Payment,Factor,Present Value,PV of Principal,长期债券的估价,BE6-15,Arcadian Inc.,公司发行了$1,000,000 的债券，利率为7%，10年到期，利息每年年末支付。,长期债券的估价,LO 8 Solve present value problems related to deferred annuities and bonds.,Present value of Interest$469,706,Present value of Principal 463,190,Bond current market value,$932,896,摊销折价或溢价的较好方法是实际利率法，如下：,发行债券的企业首先用期初债券的账面值乘以实际利率计算出债券利息费用。,比较债券利息费用和支付的利息，计算出折价或溢价摊销额。,实际利率法计算出的每期利息费用等于债券账面价值的一定比率。因为使用的比例是发型师借款者承担的实际利率，实际利率法使费用和收入实现了配比。,最可能的现金流方法,概念公告第7号,引入了,预期现金流法。,该方法使用一系列的现金流并结合这些现金流的概率提供更相关的现值计量,LO 9 Apply expected cash flows to present value measurement.,现值计量,Warranty expenses,no a ready market for it,Using expected cash flow approach,选择适当的利率,利率的三个组成部分:,纯利率,预期的通货膨胀率,信贷风险利率,LO 9 Apply expected cash flows to present value measurement.,现值计量,无风险利率,.FASB,认为在计算现金流期望值后，企业应该用无风险利率折现这些现金流,辨别与货币时间价值相关的会计主题,区分单利和复利,使用恰当的复利表,找到解决利息问题的基本变量,解决1元终值和现值问题,计算普通年金和期初应付年金的终值,计算普通年金与期初应付年金的现值,计算与递延年金和债券相关的现值,在现值计量中应用现金流期望值,学习目标,Balance Sheets,Assets,Cash,Receivables,Inventories,Investments,property,plant,and equipment,Intangible assets,Liabilities,Current liabilities and contingencies,Long-term liabilities,Shareholders Equity,Cash and Receivables,Chapter,7,Intermediate Accounting,12th Edition,Kieso,Weygandt,and Warfield,Cash and Receivables,什么是现金,对现金的管理和控制,对现金的报告,现金相关项目汇总,现金,应收账款,应收账款的确认,应收账款的计量,应收票据的确认,应收票据的计量,应收账款和应收票据的处置,列报与分析,流动性最强,交易的标准媒介,对所有其他项目进行计量和会计处理的基础,Examples,:,硬币、纸币以及可动用的银行存款、可流通的邮政汇票、保证支付的支票、银行本票、私人支票以及银行汇票也视为现金,.,What is Cash?,LO 1 Identify items considered as cash.,现金,有些可流通票据为小投资者提供了赚取利息的机会。这些项目被划分为,短期投资,比划分为现金更为妥当,因为有变现成本和风险。,货币市场基金,货币市场储蓄单,存单,短期单据,What is Cash?,LO 1 Identify items considered as cash.,这些是不是现金？,远期票据和借据,=,应收款,库存邮票,=,办公用品存货或预付费用,备用基金和找零备用金,=,现金,What is Cash?,LO 1 Identify items considered as cash.,分类存在的问题,:,短期的流动性强的投资,Reporting Cash,LO 2 Indicate how to report cash and related items.,现金等价物,随时转化为已知金额的现金,很快到期，不存在什么重大的利率风险,.,总的来说，只有三个月或者更短时间内到期的投资才符合这些定义,.,Examples:,国库券、商业票据以及货币市场基金,.,有时直接把现金等价物和短期投资放在一起，并附注后者的金额。,Reporting Cash,LO 2 Indicate how to report cash and related items.,现金等价物,=,现金,?,经济环境恶化时，某些证券可能会跌价,极端条件下甚至不能流通,FASB,限制和减少现金等价物,很多公司只报告现金及短期投资,误导读者了吗？,当金额重大时，企业处于报告的目的会把受限制的现金，从常规现金中分离,.,企业应将受限制的现金划分为流动资产还是长期资产取决于可使用日期或是付款日期,.,Reporting Cash,LO 2 Indicate how to report cash and related items.,受限制的现金,Examples,restricted for:,固定资产扩建,偿还长期债务,或者用于报名费存款、未领取的奖金、指定用途的现金,.,Reporting Cash,LO 2 Indicate how to report cash and related items.,受限制的现金,Illustration 7-1,当企业签发的支票超出了现金账户的金额,.,Reporting Cash,LO 2 Indicate how to report cash and related items.,银行透支,通常，企业需要在流动负债部分报告银行透支，,(,应付账款,).,银行透支一般不能冲减现金账户。例外情况是，当企业在透支的同一家银行开设有其他账户，而且这一账户里面有可供使用的金额时，才要求冲减,.,建立恰当的控制以防止主管或职员进行任何非授权交易,提供必要的信息以便于对库存现金和现金交易进行适当的管理。,.,企业需要对现金进行有效的,内部控制,.,Management and Control of Cash,LO 1 Identify items considered as cash.,现金交易的会计处理存在两个管理问题,:,现金太多是好事吗？,现金是最容易被,侵占和滥用的资产,办理现金收支业务的几项规定：,1,、现金收入当日送存；,2,、支付现金不得从现金收入中直接支付（坐支）；,3,、提取现金，应写明用途，经财务部门签字盖章，银行审核后支付；,4,、特殊情况使用现金，向开户银行申请；,5,、不准用凭证顶替库存现金；不准谎报用途；不准出借银行账户；不准设置“小金库”。,现金管理暂行条例,1988,，,现金管理暂行条例实施细则,1988,“,现金日记账”与 实际库存数 每日核对余额,“现金日记账”与“现金”总账 每月核对余额,对外币现金按币种设置明细账核算。,THE IMPREST PETTY CASH SYSTEM,Shortage:,dr.Cash over and short,cr.Cash,Over:,dr.Cash,cr.Cash over and short,shortage,dr.Other expense,cr.Cash over and short,Over:,dr.Cash over and short,cr.Other revenue,Fail to prove out,At the end of the year,（三）现金溢余或短缺,通过“待处理财产损溢”账户核算,按管理权限,报经批准处理时：,现金溢余转入,现金短缺转入,“其他应付款”账户（应支付的）,“营业外收入”账户（无法查明原因的）,“其他应收款”账户（应收赔偿的）,“管理费用”账户 （无法查明原因的）,、现金短缺的处理：,借：待处理财产损溢,待处理流动资产损溢,贷：库存现金,由个人赔偿：,借：其他应收款,应收现金短缺款（某人）,贷：待处理财产损溢,待处理流动资产损溢,由保险公司赔偿：,借：其他应收款,应收保险赔款,贷：待处理财产损益,待处理流动资产损溢,原因不明：,借：管理费用,现金短缺,贷：待处理财产损益,待处理流动资产损溢,、现金溢余,借：库存现金,贷：待处理财产损溢,待处理流动资产损溢,应支付有关人员或单位款：,借：待处理财产损溢,待处理流动资产损溢,贷：其他应付款,应付现金溢余（某人或某单位）,原因不明：,借：待处理财产损溢,待处理流动资产损溢,贷：营业外收入,现金溢余,1,现金收支业务的会计处理,4,月,12,日，金山企业开出现金支票,1,张，提取现金,2000,元，以备临时使用,借：库存现金,2000,贷：银行存款,2000,4,月,14,日，企业行政管理部门报销办公用品费用,600,元。,借：管理费用,600,贷：库存现金,600,顺达公司盘点库存现金时，发现盘盈现金,100,元。,借：现金,100,贷：待处理财产损溢,待处理流动资产损溢,100,找出溢余原因予以冲销：,经调查，该盘盈的,100,元现金中，有,70,元为客户多付款，有,30,元无法查明原因。,借：待处理财产损溢,待处理流动资产损溢,100,贷：其他应付款,应付现金溢余款,70,营业外收入,30,（,3,）短缺：,闽福公司清查库存现金时，发现现金短款,60,元。,借：待处理财产损溢,待处理流动资产损溢,60,贷：库存现金,60,查明短缺原因予以冲销：,经调查，上述,60,元短款中有,20,元是由于出纳的责任所导致，其余,40,元无法落实责任，经批准核销。,借：其他应收款,应收现金短缺款,20,管理费用,现金短款,40,贷：待处理财产损溢,待处理流动资产损溢,60,Cash and Receivables,什么是现金,对现金的管理和控制,对现金的报告,现金相关项目汇总,现金,应收账款,应收账款的确认,应收账款的计量,应收票据的确认,应收票据的计量,应收账款和应收票据的处置,列报与分析,Receivables,LO 3 Define receivables and identify the different types of receivables.,在未来某一特定日期,支付特定金额的,书面承诺,企业持有的对客户的索取权，以及其他对货币、商品或服务的要求权,购买方为已销售的商品和劳务而支付款项的,口头承诺,应收账款,应收票据,（商业）应收款项,非商业应收款举例,Receivables,LO 3 Define receivables and identify the different types of receivables.,预付给主管和员工的款项,预付子公司款,对潜在毁损或损失的保证金,为履行义务或支付款项而担保的押金,应收股利和应付利息,索取权,向保险公司要求事故赔偿金,对诉讼案件中被告的索取权,向政府机构要求税收退款,向公共承运人索取毁损或丢失的商品,向债权人索取退回的、毁损的或丢失的商品,向客户索取可返还的物品（木箱、集装箱等）,非商业应收款一般具有独特的性质，应该单列,Receivables,LO 3 Define receivables and identify the different types of receivables.,Nontrade Receivables,Cash and Receivables,什么是现金,对现金的管理和控制,对现金的报告,现金相关项目汇总,现金,应收账款,应收账款的确认,应收账款的计量,应收票据的确认,应收票据的计量,应收账款和应收票据的处置,列报与分析,Recognition of Accounts Receivables,LO 4 Explain accounting issues related to recognition of accounts receivable.,计量交换价格的计量考虑两个因素,:,折扣（商业折扣和现金折扣）的可获得性,销售日与到期付款日之间的时间长度（即利息因素）。,交换价格,有多种商业文件,通常是,发票,，可以作为交换价格的证明。,Recognition of Accounts Receivables,LO 4 Explain accounting issues related to recognition of accounts receivable.,商业折扣,在报价基础上打折,在会计中不显示,客户按真实发票价格付账,10%Discount for new Retail Store Customers,Recognition of Accounts Receivables,LO 4 Explain accounting issues related to recognition of accounts receivable.,现金折扣（销售折扣）,鼓励提前付款,总价法与净价法,Payment terms are 2/10,n/30,20 days,2%,？我愿意接受,!,Example:,On June 3,Benedict Corp.sold to Chester Inc.,merchandise having a sale price of$5,000 with terms of 2/10,n/60,f.o.b.shipping point.On June 12,Benedict received a check for the balance due from Chester.Prepare required journal entries assuming Benedict records the sale at,gross,.,Sales 5,000,Accounts receivable 5,000,June 3,Recognition of Accounts Receivables,LO 4 Explain accounting issues related to recognition of accounts receivable.,Cash,($5,000 x 98%),4,900,Sales discounts 100,Accounts receivable 5,000,June 12,Gross Method,总价法,Example:,On June 3,Benedict Corp.sold to Chester Inc.,merchandise