高级财务会计 陈信元 Introduction and chapter 1.pptx

高级财务会计 陈信元 Introduction and chapter 1.pptx

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IntroductiontoAdvancedAccounting,1.ClassificationofFinancialAccountingFundamentalaccounting:

Basicproceduresandtechniquesofaccountingareintroduced.Intermediateaccounting:

Basictheoriesandmethodsoffinancialaccountingarediscussed.Advancedaccounting:

Applicationoffinancialaccountingtheoriesandmethodsinspecificindustriesandtransactionsisdescribed.,2023/6/17,1,2.TopicsofAdvancedAccountingBusinesscombinationandCFSPartnershipandbranchaccountingIssuesinspecialreportingAccountingforforeignoperationsGovernmentalandnonprofitorganizationaccountingothertopics3.ReferencesFloydA.Beams:

AdvancedAccounting,10thed.2009Legalrequirements,accountingstandards（CAS,2006）andsystemsinPRC,2023/6/17,2,NewspapersandJournals-JournalofAccountancy-JournalofAccountingEducation-会计研究-财务与会计4.GradingpolicyYourgradeinthiscoursewillbedeterminedasfollows:

Classparticipationandtest10%Assignments20%Termexamination70%Total100%,2023/6/17,3,Chapter1BusinessCombination,additionalreadings:

CASNo.201.Concepts,ReasonsandLegalFormofB.C.11.Concepts1）definitionsgeneralmeaning:

theunionofbusinessentitiesFASBStatementNo.141:

p.21oftextbook2）characteristicstheeconomicentityisformedonesinglemanagementteamcontrol,2023/6/17,4,3）classificationhorizontalintegrationverticalintegrationconglomeration12.Reasons1）profitability2）operatingefficiencies3）diversificationofbusinessrisksbusinessexpansionbinationorconstruction?

costadvantagelowerriskfeweroperatingdelaysavoidanceoftakeoversintangibleassetsacquisitiontaxadvantages,2023/6/17,5,13.LegalformofB.C.1）mergeracquisitionofnetassetstheacquiringcompanycontinuestobeaSLE.theacquiredcompanyceasestoexistasaSLE,anditsbooksareclosed.theacquiringfirmrecordsseparateassetsandliabilitiesA+B=A2）consolidationanewfirmisformedtheacquiredfirmsnormallyceasetocontinueasSLEs.thenewfirmrecordstheseparateassetsandliabilitiesA+B=C,2023/6/17,6,3）acquisitionmajority（50%）equityinterestacquisitionthepositionofSLEofeachcompanyisunchangedtheacquiringcompanyrecordsanInvestmentinStheacquiredcompanymaintainsitsbooksasbefore14.Typesofconsiderationsgivenup:

cashnon-cashassetsdebtstock15.AntitrustLaw1）Proposedbusinesscombinationsarereviewedbyfederalagencies.2）Stateagenciesreviewbusinesscombinationsforpossibleviolationsofstatestatutes.,2023/6/17,7,2.BriefBackgroundonAccountingforB.C.1）muchofthecontroversyconcerningaccountingrequirementsforB.C.involvedthePoolingofinterestsmethod,whichbecamegenerallyacceptedin19502）APBOpinionNo.16（1970）:

12conditions3）poolingofinterestsvaluation:

BVgoodwillmaynotbecreatedatthedateofcombinationtheincomeofthecombiningcompaniesfortheentireyearisincludedinthepooledentity4）FASBStatementNo.141（2001）:

thepoolingofinterestsmethodwaseliminatedforalltransactionsinitiatedafterJune30,2001.,2023/6/17,8,priorcombinationsaccountedforbythepoolingofinterestsmethodwillbeallowedtocontinueasacceptablefinancialreportingpracticeforpastbusinesscombinations.5）principalreasonsforeliminatingthepoolingofinterestsmethodpoolingprovideslessrelevantinformationtouserspoolingignoreseconomicvalueexchangedinthetransactionandmakessubsequentperformanceevaluationimpossiblecomparingfirmsusingthealternativemethodsisdifficultforinvestors.6）IFRS3（2004）:

usetheacquisitionmethod,2023/6/17,9,3.ApplicationoftheAcquisitionMethod1）theacquisitionmethodfollowsthecostprincipleforrecordingabusinesscombinationcostismeasuredbythecashdisbursed,thefairvalueofpropertygivenup,orthefairvalueofsecuritiesissued.Thisisfairvaluerule.goodwillmayberecognized.theincomeoftheacquiredcompanyisincludedonlyafterthedateofB.C.theretainedearningsoftheacquiredfirmisnotcarriedforwardtotheacquiringentity.,2023/6/17,10,2）costsofB.C.directcostsofregisteringandissuingsecuritiesarechargedagainstadditionalpaid-incapital.otherdirectcostsandotherindirectcostsofcombiningareexpensed.illustrations（p.23-24）3）costallocationproceduresdeterminethefairvaluesofallidentifiabletangibleandintangibleassetsacquiredandliabilitiesassumed.include:

-identifiableintangiblesresultingfromlegalorcontractualrights,orseparablefromtheentity-researchanddevelopmentinprocess-contractualandsomenoncontractualcontingencies,2023/6/17,11,usefairvaluesdetermined,inpreferentialorder,by:

-establishedmarketprices-presentvalueofestimatedfuturecashflows,discountedbasedonobservablemeasures-otherinternallyderivedestimationsexceptionstofairvaluerule-deferredtaxassetsandliabilitiesFASBStatementNo.109andFINNo.48-pensionsandotherbenefitsFASBStatementNo.158-operatingandcapitalleasesFASBStatementNo.13andFIN.No.21-goodwillonthebooksoftheacquiredfirmisassignednovalue.,2023/6/17,12,4）recognitionandmeasurementoftheacquiringfirmfirst,fairvaluesareassignedtoallidentifiabletangibleandintangibleassetsacquiredandliabilitiesassumed.-alistofintangibleassetsthatmeetthecriteriaforrecognition.（P.26）-intangibleassetsmustmeeteitheraseparabilityoracontractual-legalcriterion.ifcostisgreaterthanfairvalueoftheidentifiablenetassetsacquired,theexcesscostisassignedtogoodwill.iffairvalueisgreaterthancost,theexcessfairvalueisrecognizedasagainfrombargainpurchase,2023/6/17,13,5）contingentconsiderationinapurchaseB.C.contingentconsiderationisanadditionalpaymentmadetothepreviousstockholdersoftheacquiredcompanycontingentonfutureeventsortransactions.thecontingentconsiderationmayincludethedistributionofcash,otherassets,ortheissuanceofdebtorequitysecurities.contingentconsiderationthatisdeterminableatthedateofacquisitionisrecordedaspartofthecombinationcost.contingentconsiderationthatisnotdeterminableatthedateofacquisitionisrecordedwhenthecontingencyisresolvedandtheconsiderationisissuedorbecomesissuable.,2023/6/17,14,acontingencyinvolvingfutureearningslevelsisrecognizedatfairmarketvalueasanadditionalcostoftheacquiredcompany.ifthecontingencyisbasedonsecurityprices,therecordedcostoftheacquiredcompanyshouldnotchange.Whenthecontingencyisresolved,thefairmarketvalueoftheadditionalconsiderationisappliedtoproportionatelyreducesecuritiesissuedandrecordedatthedateofacquisition.illustrationGandH,2023/6/17,15,4.TheGoodwillControversy1）goodwillisdefinedastheexcessoftheinvestmentcostoverthefairvalueofassetsreceivedandisnolongeramortizedforfinancialreportingpurposes.2）firmsmustperiodicallyassessgoodwillforimpairmentinitsvalue.Animpairmentoccurswhentherecordedvalueofgoodwillisgreaterthanitsfairvalue.whenanimpairmentoccurs,firmsmustwritedowngoodwilltoanewestimatedamountandrecordalossincalculatingnetincomeofaperiod.thetreatmentofgoodwillhasnotretroactivelychanged,butfirmswillceaseamortizingallpreviouslyrecordedgoodwill.,2023/6/17,16,goodwillandallotherintangiblesthathaveindefiniteusefulliveswillbeperiodicallyreviewedandadjustedforvalueimpairment.impairmentlossesongoodwillandallotherintangibleswillbeconsideredalossduetoachangeinaccountingprinciplethefirsttimeitisrecognized.3）thestandardalsoredefinesthereportingentityinaccountingforintangibleassets.Firmswilltreatgoodwillandotherintangibleassetsasassetsofthebusinessreportingunit.theseintangibleassetswillbereportedbasedontheirfairvalueatacquisitiondate.,2023/6/17,17,4）internallydevelopedintangiblesthatarenotspecificallyidentifiable,haveindeterminatelives,orareinherentinacontinuingbusinessrelatedtotheentitywillnotberecognizedasanasset,butexpensed（thesametreatmentwillcontinueforacquiredresearchanddevelopmentcosts）.5）recognizingandmeasuringimpairmentlossesrelatedtogoodwill,atwo-stepprocesssteponecomparesbookvaluestofairvaluesatthebusinessreportingunitlevel.Iffairvalueislessthanbookvalue,animpairmenthasoccurred.steptwomeasurestheimpairment.Thelosscannotexceedthebookvalueofthegoodwill.Previouslyrecognizedimpairmentlossescannotbereversed.theimpairmenttestisconductedatleastannually.,2023/6/17,18,6）amortizationversusnon-amortizationamortizationisrequiredforintangibleassetswithafiniteusefullife.themethodofamortizationshouldreflecttheexpectedpatternofconsumptionoftheeconomicbenefitsoftheasset.ifapatternisnotdeterminable,straight-lineamortizationisacceptable.firmswillnotamortizeintangibleswithanindefinitelifethatcannotbeestimated.Likegoodwill,theseassetsshouldbeperiodicallyevaluatedforpossibleimpairments.,2023/6/17,19,5.DisclosureofB.C.（P.31-33）6.SARBANES-OXLEYACTOF20021）thenewrulesfocusprimarilyoncorporategovernance,auditing,andinternalcontrolissues.2）thelawhasfar-reachingimplicationsforaccountingandauditingprofessions（P.33-34）.7.ChinaCAS201）B.C.undernon-identicalcontrol:

theacquisitionmethod.2）B.C.underidenticalcontrol:

themethodsimilartothepoolingofinterests.,2023/6/17,20,