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1、如有侵权，请联系网站删除，仅供学习与交流会计英语5【精品文档】第 8 页Lesson 4 Liabilities第四课 负债GlossaryContingency 或有事项Contingent 或有的contingent asset或有资产contingent Liability或有负债Coupon息票Current liability 流动负债Discount折价effective yield有效利率face value面值interest利息Liability 负债loss contract亏损合同Market rate市场利率 nominal rate名义利率Off-Balance-Sh
2、eet Financing表外融资Operating Leases经营租赁Capital leases 融资租赁par 面值pending litigation 未决诉讼Premium溢价principal本金virtually certain基本确定Topic outline4.1 current liabilities4.2 noncurrent liabilities4.3 contingencies4.4 debt restructuring4.1 current liabilitiesl Current liabilities are “obligations whose liqui
3、dation is reasonably expected to require use of existing resources properly classified as current assets, or the creation of other current liabilities.” Accounts payable应付账款：Balances owed to others for goods, supplies, or services purchased on open account. Arise because of time lag between receipt
4、of goods or services and the payment for them. Notes payable应付票据: Written promises to pay a certain sum of money on a specified future date. Arise from purchases, financing, or other transactions. Notes may be interest-bearing带息 or zero-interest-bearing不带息. Current maturities of long-term debt.当期到期的
5、长期负债 Dividends payable.应付股利 Customer advances and deposits.顾客预付款项和存款 Unearned revenues.预收账款 Sales taxes payable.税金 Income taxes payable.应交所得税 Employee-related liabilities.与员工有关的负债（wages payable）: Amounts owed to employees for salaries or wages are reported as a current liability.4.2 noncurrent liabi
6、litiesl Long-term debt consists of probable future sacrifices of economic benefits arising from present obligations that are not payable within a year or the operating cycle of the company, whichever is longer. Bonds payable: Represents a promise to pay: sum of money at designated maturity date+ per
7、iodic interest at a specified rate on the maturity amount (face value面值+ interest利息). Paper certificate. Interest payments usually made periodically. Purpose is to borrow when the amount of capital needed is too large for one lender to supply. Mortgages payable Lease liabilitiesl Valuation of Bonds
8、Discount折价 and Premium溢价 The investment community values a bond at the present value of its expected future cash flows, which consist of (1) interest利息 and (2) principal本金. Interest Rates： Coupon息票, or nominal rate名义利率 = The interest rate written in the terms of the bond indenture. Market rate市场利率 o
9、r effective yield有效利率 = rate that provides an acceptable return on an investment commensurate with the issuers risk characteristics. Rate of interest actually earned by the bondholders. How do you calculate the amount of interest that is actually paid to the bondholder each period? (Stated rate x Fa
10、ce Value of the bond)How do you calculate the amount of interest that is actually recorded as interest expense by the issuer of the bonds?(Market rate x Carrying Value of the bond) Unamortized bond issue costs are treated as a deferred charge and amortized over the life of the debt.l Off-Balance-She
11、et Financing表外融资：An attempt to borrow monies in such a way to prevent recording the obligations Non-Consolidated Subsidiary非合并子公司 Special Purpose Entity (SPE) Operating Leases经营租赁4.3 contingencies 或有事项l The term “Contingencies” refers to the conditions that formed by past transactions or events, and
12、 the outcome of which will be confirmed only by the occurrence or non-occurrence of future events. 或有事项，是指过去的交易或者事项形成的，其结果须由某些未来事项的发生或不发生才能决定的不确定事项。 The term “contingent Liability或有负债 ” refers to a potential obligation caused by past transactions or events and whose existence will be confirmed only
13、by the occurrence or non-occurrence of uncertain future events; Or refers to a current obligation caused by a past transaction or event but is not recognized because the performance of the obligation is not likely to incur an outflow of economic benefits from the enterprise or because the amount of
14、the obligation cannot be measured in a reliable way. 或有负债，是指过去的交易或事项形成的潜在义务，其存在须通过未来不确定事项的发生或不发生予以证实；或过去的交易或事项形成的现时义务，履行该义务不是很可能导致经济利益流出企业或该义务的金额不能可靠计量。 The term “contingent asset或有资产” refers to a potential asset caused by a past transaction or event and whose existence will be confirmed only by the
15、 occurrence or non-occurrence of uncertain future events. 或有资产，是指过去的交易或者事项形成的潜在资产，其存在须通过未来不确定事项的发生或不发生予以证实。l Recognition and Measurement of contingencies Recognition of estimated debts预计负债 when the following conditions are satisfied simultaneously与或有事项有关的义务应当在同时符合以下三个条件时确认为负债，作为预计负债进行确认和计量: That obl
16、igation is a current obligation of the enterprise该义务是企业承担的现时义务; It is likely to cause any economic benefit to flow out of the enterprise as a result of performance of the obligation履行该义务很可能导致经济利益流出企业; and The amount of the obligation can be measured in a reliable way该义务的金额能够可靠地计量. The estimated debt
17、s shall be initially measured in accordance with the best estimate最佳估计数 of the necessary expenses for the performance of the current obligation预计负债应当按照履行相关现时义务所需支出的最佳估计数进行初始计量. If there is a sequent range for the necessary expenses and if all the outcomes within this range are equally likely to occu
18、r, the best estimate shall be determined in accordance with the middle estimate within the range. 所需支出存在一个连续范围，且该范围内各种结果发生的可能性相同，则最佳估计数应当按照该范围内的中间值，即上下限金额的平均数确定。 In other cases, the best estimate shall be conducted in accordance with the following situations, respectively: If the Contingencies conce
19、rn a single item, it shall be determined in the light of the most likely outcome如果或有事项涉及单个项目，最佳估计数按照最可能发生金额确定. If the Contingencies concern two or more items, the best estimate should be calculated and determined in accordance with all possible outcomes and the relevant probabilities如果或有事项涉及多个项目，最佳估
20、计数按照各种可能结果及相关概率计算确定（加权平均数）. To determine the best estimate, an enterprise shall take into full consideration of the risks, uncertainty, time value of money, and other factors pertinent to the Contingencies. When all or some of the expenses necessary for the liquidation of an estimated debts of an en
21、terprise is expected to be compensated by a third party, the compensation should be separately recognized as an asset only when it is virtually certain基本确定 that the reimbursement will be obtained. The amount recognized for the reimbursement should not exceed the book value of the estimated debts. 如果
22、企业清偿因或有事项而确认的负债所需支出全部或部分预期由第三方或其他方补偿，则此补偿金额只有在基本确定能收到时，才能作为资产（其他应收款）单独确认，确认的补偿金额不能超过所确认负债的账面价值。l Some examples of contingencies: Where an executory contract turns to be a loss contract亏损合同, the obligation generated from the loss contract which meets the provisions estimated debts shall be recognized
23、 as an estimated debts. 待执行合同变为亏损合同，同时该亏损合同产生的义务满足预计负债的确认条件的，应当确认为预计负债。 The term “executory contract” refers to a contract, the contractual obligations of which fail to be performed by the relevant contracting parties, or some of the equal obligations have been performed. The term “loss contract” re
24、fers to a contract whose performance of the contractual obligations will inevitably incur costs in excess of the expected economic benefits. If a restructuring obligation重组义务 undertaken by an enterprise meets the provisions of Article 4 of these Standards, it shall be recognized as an estimated debt
25、s. The term “restructuring” refers to the act of implementing a plan made and controlled by an enterprise, which may substantially change the organizational form, business scope or operating manner of the enterprise. 重组是指企业制定和控制的，将显著改变企业组织形式、经营范围或经营方式的计划实施行为。 The simultaneous existence of the follow
26、ing situations indicates that the enterprise has undertaken the restructuring obligation: (1) Having a detailed and formal restructuring plan, which consists of the businesses concerning restructuring, the main places, the number of employees to be compensated and the nature of their posts, the expe
27、cted expenditure for the recombination, the execution time of the plan.有详细、正式的重组计划，包括重组涉及的业务、主要地点、需要补偿的职工人数、预计重组支出、计划实施时间等; and (2) The restructuring plan has been proclaimed to the general public该重组计划已对外公告. The enterprise shall determine the amount of estimated debts in the light of the direct expe
28、nditure pertinent to the restructuring. 企业应当按照与重组有关的直接支出确定预计负债金额。The direct expenditure exclude the expenses for the pre-post training of the employees who stay on to work, market promotion, new systems, marketing network, etc. 直接支出是企业重组必须承担的直接支出，不包括留用职工岗前培训、市场推广、新系统和营销网络投入等支出。（因为这些支出与未来经营活动有关，在资产负债
29、表日不是重组义务）l An enterprise shall check the book value of the estimated debts on the balance sheet date. If there is any exact evidence indicating that the book value cannot really reflect the current best estimate, the enterprise shall adjust the book value in accordance with the current best estimate
30、. 企业应当在资产负债表日对预计负债的账面价值进行复核。有确凿证据表明该账面价值不能真实反映当前最佳估计数的，应当按照当前最佳估计数对该账面价值进行调整。l Disclosure Estimated debts The types and causes of the estimated debts, as well as an explanation for the uncertainty of the outflow of economic benefits; The changes at the beginning and the end of the period, and the cu
31、rrent changes in the estimated debts; The amount of expected compensations pertinent to the estimated debts, and the amount of excepted compensation that has been recognized in the current period. Contingent debts (excluding those contingent liabilities that caused little possibility of any outflow
32、of economic benefits). The types and causes of the contingent debts 或有负债的种类及其形成原因; An explanation for the uncertainty of the outflow of the economic benefits经济利益流出不确定性的说明; An estimate of the expected financial effect of the contingent debts and the possibility of any expenditure. If it is unable to
33、make an estimate, the reasons shall be explained. 或有负债预计产生的财务影响，以及获得补偿的可能性；无法预计的，应当说明原因 In general, no enterprise may disclose the contingent assets. However, if a contingent asset will probably give rise to an inflow of economic benefits to the enterprise, the enterprise shall disclose the cause, t
34、he expected financial effect, etc.4.4 debt restructuringl The term “debt restructuring债务重组” refers to an event in which the terms of a debt are given in as a result of a mutual agreement between a debtor and a creditor or a judgment of a court when the debtor gets into a financial problem. 债务重组，是指在债
35、务人发生财务困难的情况下，债权人按照其与债务人达成的协议或者法院的裁定作出让步的事项。l The manners of debt restructuring mainly include: (1) The liquidation of a debt by asset以资产清偿债务（包括以现金资产抵债和以非现金资产抵债）; (2) The conversion of a debt into capital将债务转为资本; (3) The modification of other terms of a debt such as deduction of principal or interest
36、 of a debt, excluding the two manners aforesaid ; 修改其他债务条件 (4) A combination of the three manners . 以上三种方式的组合l Accounting of debt restructuring: current profit and losses(non-operating income营业外收入and non-operating expenditure营业外支出)Review questions1. (Accounts and Notes Payable) The following are sel
37、ected 2007 transactions of Sean Astin Corporation.(1)Sept. 1 - Purchased inventory from Encino Company on account for $50,000. Astin records purchases gross and uses a periodic inventory system.(2)Oct. 1 - Issued a $50,000, 12-month, 8% note to Encino in payment of account.(3)Oct. 1 - Borrowed $50,0
38、00 from the Shore Bank by signing a 12-month, zero-interest-bearing $54,000 note.Answer:(1)Sept. 1Dr: Purchases 50,000 Cr: Accounts payable50,000(2)Oct. 1Dr: Accounts payable 50,000 Cr: Notes payable50,000Dec. 31 Dr: Interest expense 1,000Cr: Interest payable1,000($50,000 X 8% X 3/12) (3) Oct. 1Dr:
39、Cash 50,000Discount on notes payable4,000 Cr:Notes payable54,000Dec. 31 Dr: Interest expense1,000Cr: Discount on notes payable1,000($4,000 x 3/12) 2. Game Pro Magazine sold 10,000 annual subscriptions on August 1, 2007, for $18 each. Prepare Game Pros August 1, 2007, journal entry and the December 31, 2007, annual adjusting entry.Answer:Aug. 1Dr: Cash 180,000 Cr: Unearned revenue180,000 (10,000 x $18) Dec. 31Dr: Unearned revenue 75,000Cr: Subscription revenue75,000 ($180,000 x 5/12 = $75,000)