assets資產(chǎn)andliabilities負(fù)債-展示頁
2025-03-09 22:00本頁面
【正文】 accounts at cost (less accumulated depreciation). ? However some panies may choose to include land and buildings at revalued amount (less depreciation). ? If a pany makes this choice, all the assets in the category must be revalued, and they must be revalued at regular intervals. ? Revaluation reserve ? Look out for the accounting policy. ? IAS 16 refers to open market value whereas FRS 15 required valuation to be at existing use value, Impairment If circumstances change, directors need to review their noncurrent assets and see if their value in the accounts (the book value) has been impaired. If necessary, they will need to reduce the value of the fixed assets to the ? higher of the realisable value (what it can be sold for less expenses) or ? the value in use (the “present” value of estimated future cash flows). Inventories (Stocks and workin –progress) ? What are inventories? ? Accounting for inventories ? Objectives of inventories valuation ? Normal valuation: Lower of cost and realisable value ? What is the cost of inventories? – cost flow assumptions – cost of manufactured goods, or of services ? What is realisable value? What are inventories? Examples from different types of business: ? Corner shop ? Crisp manufacturer ? Toy manufacturer ? Builder ? Solicitor WHAT ARE INVENTORIES? Assets: (a) held for sale in the ordinary course of business。 or (c) in the form of materials or supplies to be consumed in the production process or in the rendering of services. (IAS2) Common categories: “a) goods or other assets purchased for resale b) consumable stores c) raw materials and ponents purchased for incorporation into products for sale d) products and services in intermediate stages of pletion (WorkinProgress) e) long term contract balances f) finished goods.” SSAP 9 Accounting for inventories ? inventories is likely to be a very ‘material’ figure . large relative to profit. ? Consider the impact on A L = C + Profits ? Example For a retailer or wholesaler: Opening inventories + Purchases = Cost of the inventories available during the year How much of this cost has been “used up” and should be charged against profit as Cost of Sales? How much of this cost has not been used up and should be carried forward as closing inventories with future economic benefit? Note: Accruals concept: matching sales revenue of goods sold with cost of goods sold. Practicalities ? Where there are no detailed records of cost of sales then: – Step 1: Physical stocktake – Step 2: Value at cost ? Where detailed records of cost of sales and inventories are kept after every sale, – then Physical stock take (either all at once or a little at a time) to check records to actual inventories. – Use inventories figure from the accounting records Example ? Opening inventory 163。60,000 ? Closing inventory 163。8,000 ? Purchases: 163。88,000 ? Closing inventory? Valuation of inventories Lower of ? Cost and ? Net realisable valu
物理相關(guān)推薦
鄂ICP備17016276號(hào)-1