[FAR] Notes - FAR3 - Unit 3-1 to 15-20

FAR3 [#N/A] Unit 13-1.
Definition and Basic Structure of Pensions
年金の定義と基本的な仕組み

KEYWORDS:
△社内引当制度
〇企業年金制度

NOTES:
後払いの給与

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FAR3 [#N/A] Unit 13-2.
COncept of Internally Funded Pension System
社内引当制度の概要

KEYWORDS:
accrued pensions
pansion payable

NOTES:
会社が自前で頑張る制度=社内引当制度

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FAR3 [○] Unit 13-3.
Conrporate Pension System (1) Concept
企業年金制度(1) 概要

KEYWORDS:
benefits
plan assets
funding
contribution
funding agency
defined contribution plan 確定拠出 △
pension trust
defined benefit plan 確定給付型制度 〇

NOTES:
確定拠出型制度 = 将来の給付額は約束しないけど、積立額だけ約束する
確定給付型制度 = 将来の給付額を約束する

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FAR3 [○] Unit 13-4.
Corporate Pension System (2) Measurement Frameworks of Pension Obiligation
企業年金制度(2) 年金債務の測定における3つのフレームワーク

KEYWORDS:
年金債務 pension obligation = pension liability
VBO; vested benefit obligation
ABO; accumulated benefit obligation
PBO; projected benefit obligation 予測給付債務

NOTES:
VBO 将来給付の現在価値。権利を確定した者のみ&&現給与ベース(昇級無視)
ABO 権利未確定の人も入れる。ただ、昇級は無視。
PBO 受給権未確定者込み&&昇給も加味する

PBO
将来の給付見込み額を出し、それをPVに割り引いてBS計上

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FAR3 [◎] Unit 13-5.
Basic Model of Accounting Treatment for Pensions
退職給付会計の基本的なモデル

KEYWORDS:
PBO
差額計上

NOTES:
pension expense = service cost + interest cost - actual return

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FAR3 [○] Unit 13-6.
Components of Pension Expense (1) Service Cost
年金費用の構成要素(1) 勤務費用

KEYWORDS:
servoce cost (サラリーとは言わない)
pension expense / net periodic pension cost = IS
settlement rate / discount rate

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FAR3 [○] Unit 13-7.
Components of Pension Expense (2) Interest Cost
年金費用の構成要素(2) 利息費用

KEYWORDS:
interest cost
effective interest method

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FAR3 [○] Unit 13-8.
Components of Pension Expense (3) Actual Return on Plan Assets
年金費用の構成要素(3) 制度資産の実際運用収益

KEYWORDS:
actual return

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FAR3 [○] Unit 13-9.
Components of Pension Expense (4) Amortization of Prior Service Cost
年金費用の構成要素(4) 過去勤務費用の償却

KEYWORDS:
prior service cost; PSC
other conprehensive income; BS
average remaining service period

NOTES:
退職金の制度変更時は遡及して対応
IFRSは other を使わずに即費用計上

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FAR3 [○] Unit 13-10.
Components of Pension Expense (5) Asset Gains and Losses
年金費用の構成要素(5) 資産利得及び損失

KEYWORDS:
asset gains and losses
other comprehensive income; OCI; BS

NOTES:
plan asset の変動
pension云々で経常に入れるのはinvestorに不親切では?
--> 実際運用収益 --> 期待運用収益に変更OK @FASB
OCIを使う

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FAR3 [○] Unit 13-11.
Components of Pension Expense (6) Liability Gains and Losses
年金費用の構成要素(6) 負債利得及び損失

KEYWORDS:
actuary

NOTES:
PBO の変動
liability gains and losses
plan asset の変動と同様にOCI = BS処理

OCI = temporary account = 期末にはzeroになる = AOCI に乗る、最終的には。

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FAR3 [○] Unit 13-12.
Components of Pension Expense (7) Amortization of Net Gains and Losses
年金費用の構成要素(7) 資産利得及び損失、負債利得及び損失の償却

KEYWORDS:
accumulated other comprehensive income
average remaining service period
corridor approach

NOTES:
許容範囲はPBOかplan assetのデカイ方の10% --> over部分は償却

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FAR3 [△] Unit 13-13.
Use of Worksheet in Accounting Treatment for Pensions (1)
年金の会計処理におけるフレームワークの利用(1)

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

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FAR3 [△] Unit 13-14.
Use of Worksheet in Accounting Treatment for Pensions (2)
年金の会計処理におけるフレームワークの利用(2)

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

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FAR3 [△] Unit 13-15.
Accounting Treatment for Postretirement Benefits Other Than Pensions
年金以外の退職後の福利厚生制度の会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

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FAR3 [○] Unit 13-16.
Presentation Requiments for Pensions
年金及びその他退職後給付制度に関する表示

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

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FAR3 [#N/A] Unit 13-17.
Disclosure Requirements for Pensions
年金及びその他退職後給付制度に関する開示

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

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FAR3 [#N/A] Unit 13-18.
Financial Statements of Retirement Benefit Plans
退職後給付制度の財務諸表

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

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FAR3 [◎] Unit 14-1.
Issuance of Stock for Cash
現金による株式の発行

KEYWORDS:
common stock
par value
additional paid-in capital; APIC アピック
優先株式 preferred stock

NOTES:
Dr. Cash (proceeds)
Cr. Common stock (PAR) / Additional paid-in capital (plug)

common stock は、必ず par
差額がAPIC

SEを増やして資金調達 = equity finance
借金で資金調達 = debt finance

株式発行諸費用 cost of registration > either APIC(BS)から控除 or expense(IS)

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FAR3 [○] Unit 14-2.
Issuance of Stock for Property Other Than Cash
現金以外の資産による出資(現物出資)

KEYWORDS:
現物出資 contribution in kind

NOTES:
資産の 時価FV で計上
サービスの 時価FV 費用認識
いずれにせよ、Common stock は par で仕訳

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FAR3 [○] Unit 14-3.
Stock Issued with Other Securities
普通株式とその他の有価証券を組み合わせた発行

KEYWORDS:
proportional method
incremental method

NOTES:
proportional method
理論的総額から按分率を算出する = 普通株式と優先株式の両方の株価が分かる時に使用できる方法
otherwise incremental method = 片方の時価しか分からない時

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FAR3 [△] Unit 14-4.
Stock Subscription
株式の引受申込

KEYWORDS:
stock subscription 引受申し込む = 株式の代金を分割で支払う形態。

NOTES:
株式発行は全額の支払いがなされた時。
未受領分は subscriptions receivable (資本のマイナス)
受領済分は Common stock subscribed (parで計上)

SE = ( CS + APIC ) + ( RE + AOCI )
お金の払い込みの裏付けがある = PIC = paid-in capital = CS & APIC
と、裏付けがないもの EC = earned capital = 設立後に稼いだ部分 = RE & AOCI
retained earnings = NI / net income から来るもの

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FAR3 [◎] Unit 14-5.
Treasury Stock (1) Concept
自己株式(1) 概要

KEYWORDS:
treasury stock = 自己株式

NOTES:
自己株式 は、資産とせず、資本の控除項目 && 損益の認識は行わない
議決権 = 株式総会での発言権
preferred stock = 議決権がない代わりに配当を早くもらえる
配当請求権 と 議決権 = 株式の2大権利

他者株購入 = Dr. investment / Cr. Cash
自社株購入 = Dr. treasury stock / Cr. Cash

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FAR3 [◎] Unit 14-6.
Treasury Stock (2) Cost Method
自己株式(2) 原価法

KEYWORDS:
cost method = 主流
par value method --> Unit 14-7.

NOTES:
treasury stock = 金庫株
自社株売買での益は APIC、損は REに計上し、gain/lossにしない = IS への影響なし
株の消却 (cancel)

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FAR3 [○] Unit 14-7.
Treasury Stock (3) Par Value Method
自己株式(3) 額面価格法

KEYWORDS:
par value method

NOTES:
treasury stock = par

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FAR3 [◎] Unit 14-8.
Definition of Preferred Stock
優先株式の定義

KEYWORDS:
preferred stock
liquidation = 会社を畳むこと

NOTES:
配当金を優先的に受領する権利を持つ

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FAR3 [○] Unit 14-9.
Participating Preferred Stock
参加型優先株式

KEYWORDS:
participating preferred stock

NOTES:
普通株以上の配当を約束した優先株式
普通の優先株だと、普通株より得できない時がある。参加型優先株はそれがない。必ず普通株より得をするタイプ。

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FAR3 [○] Unit 14-10.
Cumulative Preferred Stock
累積型優先株式

KEYWORDS:
cumulative preferred stock
dividends in arrears = 繰越配当金

NOTES:
過去の無配だった分に関しても遡及して配当をもらえるタイプ。
繰越配当金は負債じゃない。注記よる開示が要る。

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FAR3 [◎] Unit 14-11.
Dividends and Stock Splits (1) Cash Dividends
配当金と株式分割(1) 現金配当

KEYWORDS:
cash dividends
declaration
date of record
date of payment

NOTES:
shareholders mtg
board of directors (BoD) <-- 配当を決めるのはココ (declaration)
officers (執行役員, COO, CFO) - day to day management
配当の原資は retained earnings (BS)
※ expenseは登場しない

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FAR3 [○] Unit 14-12.
Dividends and Stock Splits (2) Property Dividends
配当金と株式分割(2) 現物配当

KEYWORDS:
property dividends

NOTES:
配当する資産を時価 (FV) へ評価替えする
時価への評価替えでの損益は確定したものとしてISに反映されるもの

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FAR3 [△] Unit 14-13.
Dividends and Stock Splits (3) Liquidating Dividends
配当金と株式分割(3) 清算配当

KEYWORDS:
liquidating dividends = 配当原資がREでなくPIC

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FAR3 [△] Unit 14-14.
Dividends and Stock Splits (4) Scrip Dividends
配当金と株式分割(4) 手形配当

KEYWORDS:
scrip dividends = 手形配当 = 後日払うよ、な配当 = 支払利息 interest expense が発生する

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FAR3 [◎] Unit 14-15.
Dividends and Stock Splits (5) Stock Dividends
配当金と株式分割(5) 株式配当

KEYWORDS:
stock dividends
small stock dividends (既存分の20-25%以下)
large stock dividends (20-25%以上)

NOTES:
会社が新たに株式を発行し、既存の株主に分配する
会計処理がsmallとlargeとで異なる

large の時は、FVでなく、par value で処理する。
small の時は、FVで会計処理する。

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FAR3 [◎] Unit 14-16.
Dividends and Stock Splits (6) Stock Splits and Reverse Stock Splits
配当金と株式分割(6) 株式分割と株式併合

KEYWORDS:
stock splits
reverse stock split = 株式併合 = 1 for 2 reverse stock split = 二株を一株にする

NOTES:
1株を複数株に分割すること = 額面が小さくなる
仕訳は不要。備忘記録するのみ
=~お金の両替

cf. EPS = earning per share

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FAR3 [○] Unit 14-17.
Dividends and Stock Splits (7) Appropriation of Retained Earnings and Presentation
配当金と株式分割(7) 留保利益に係る制限と表示

KEYWORDS:
留保利益
appropriated retained earnings <--> free and unappropriated

NOTES:
配当に回せないRE (州によりけり)

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FAR3 [◎] Unit 14-18.
Corporate Bankruptcy
株式会社の破産

KEYWORDS:
bankruptcy (破産) - chapter 7. - liquidation (精算=会社の消滅)
reorganization (更生) - chapter 11.
statement of affairs = 死にゆく会社のBS
pledge 担保権
collateral 担保物
assets pledged with fully secured creditors = 担保物の方が債券額を上回る場合
assets pledged with partially secured credittors
free assets
residual claim - cf. preferred stock - Unit 14-8.

NOTES:
倒産 = 俗語 = inc. 破産 & 更生
破産と更生の共通点は借金の免除。前者が完全免除、後者が部分免除

federal law
state law

破産法があるのは federal law の方のみ
会社法は state lar
UCC = 州法を統一したもの = 共通の州法 != federal law

返済の優先順序
1. 担保物のおつりは無担保債権者へ
2. 部分債券者の不足分は無担保債権者に同じ
3. priority claim, then unsecured claim, then residual claim

carrying values = BV
estimated current values = FV

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FAR3 [○] Unit 14-19.
Quasi-Reorganization
準更生

KEYWORDS:
quasi-reorganization = 法律手続きに基づかない更生の会計処理
deficit =~ マイナスのretained earnings

NOTES:
留保利益をゼロにする
資産をFVで再評価 ※ 但し、上げる処理はしない
APICで埋める。
APICが不足する場合はCSを減らしてAPICを埋める

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FAR3 [○] Unit 15-1.
Concept of Convertible Bonds
転換社債の概要

KEYWORDS:
convertible bonds
compound instruments @IFRS イファース

NOTES:
社債から株式への転換 = entity側は返済義務がなくなる。

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FAR3 [◎] Unit 15-2.
Accounting Treatments for Convertible Bonds at Conversion (1) Book Value Method
転換社債の転換時における会計処理(1) 簿価法

KEYWORDS:
簿価法 = 主流
時価法 = Unit 15-3.

NOTES:
転換時の処理 @簿価法 = 転換時に損益は発生しない
step 1 - 社債関連の勘定の残高をゼロにし
step 2 - 新たに発行された株式の額面金額を普通株式に計上する

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FAR3 [○] Unit 15-3.
Accounting Treatments for Convertible Bonds at Conversion (2) Market Value Method
転換社債の転換時における会計処理(2) 時価法

KEYWORDS:
時価法

NOTES:
転換時の処理 @時価法 = 転換時に損益が発生する
step 1 - 社債関連の勘定の残高をゼロにし
step 2 - 新たに発行された株式の転換時の株式の時価で評価する
step 3 - 損益認識

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FAR3 [○] Unit 15-4.
Accounting Treatment for Convertible Preferred Stock at Conversion
転換権付優先株式の転換時における会計処理

KEYWORDS:
convertible preferred stock

NOTES:
cf. Unit 14-5.
登場する科目は全て資本の部。 --> 損益は発生しない --> 時価法はない。(時価法だと損益が発生する為)


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FAR3 [○] Unit 15-5.
Concept of Warrants
新株予約権の概要

KEYWORDS:
warrants = 一定の価格で株式を購入する「権利」
bonds with warrants = ワラント債
preferred stock with warrants
detachable warrants


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FAR3 [◎] Unit 15-6.
Accounting Treatment for Bond with Warrants and Preferred Stock with Warrants at Exercise
新株予約権付社債と新株予約権付優先株式の発行時の会計処理

KEYWORDS:
proportional method 比例配分法
incremental method 増分法

NOTES:
proportional method = 社債と株式の両方の時価が分かっている場合。
incremental method = いずれかしか分からない場合

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FAR3 [○] Unit 15-7.
Accounting Treatment for Warrants at Exercise
新株予約権の行使時の会計処理

KEYWORDS:
book value method

NOTES:
新株予約権の行使では簿価法
資本の部の取引から損益は出ない

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FAR3 [○] Unit 15-8.
Stock Options (1) Concept
ストック・オプション(1) 概要

KEYWORDS:
stock options = 従業員が一定の価格で勤務先企業を一定株数購入できる「権利」
grant date
exercise price
measurement date = 条件が決まった日 = 基本的にはgrant dateと同一
requisite service period / vesting period
exercise date

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FAR3 [△] Unit 15-9.
Stock Options (2) Fair Value Based Method
ストック・オプション(2) 公正価値基準法

KEYWORDS:
報酬費用 IS
option pricing models
fair value based method

NOTES:
stock option の FV --> 同業他社の数値を元に算出する
同業他社がない場合は --> option pricing models
cf.
black-scholes model = あらゆるものを金額に算出できるという考え

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FAR3 [◎] Unit 15-10.
Stock Options (3) Accounting Treatment
ストック・オプション(3) 会計処理

KEYWORDS:
均等 for 必要サービス期間
費用認識
権利付与日におけるFV (再測定なし)
stock option outstanding - BS
deferred compensation expense - BS (contra account of asset)


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FAR3 [△] Unit 15-11.
Stock Options (4) Disclosure Requirements
ストック・オプション(4) 開示


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FAR3 [△] Unit 15-12.
Concept and Accounting Treatment for Stock Appreciation Rights
株式増加受益権の概要と会計処理

KEYWORDS:
SAR = stock appreciation rights = 株式増加受益権

NOTES:
stock option と同様 = 均等 && 費用認識
違いは、公正価値の再測定あり

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FAR3 [△] Unit 15-13.
Concept and Accounting Treatment for Employee Stock Ownership Plan
従業員持株制度の概要と会計処理

KEYWORDS:
employee stock ownership plan

NOTES:
compensation expense

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FAR3 [◎] Unit 15-14.
Basic Earnings Per Share (1) Calculation Formula and Numerator
基本的1株当たりの利益(1) 計算式及び分子

KEYWORDS:
EPS
basic earnings oer share - basic EPS
noncumlative
cumlative

NOTES:
基本は net income / common stock outstanding = basic EPS
common stock 1株あたりの指標


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FAR3 [◎] Unit 15-15.
Basic Earnings Per Share (2) Denominator
基本的1株当たりの利益(2) 分母

KEYWORDS:
treasury stock

NOTES:
自己株式は分母に含めない
株式配当や分割は加重平均にせずに期首に行われたと見なす

outstanding stock = issued stock - treasury stock

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FAR3 [○] Unit 15-16.
Situations where Calculation of Diluted EPS is required
希薄化後1株当たり利益の計算が必要となる状況

KEYWORDS:
dilution
complex capital structure = basic EPS に加え、 diluted EPS も勘案する。 --> dual presentation
simple capital structure = basic EPS を変動さえるものがないもの
potentially dilutive securities = 希薄化証券
warrants / stock option
convertible bonds / convertible preferred stock


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FAR3 [◎] Unit 15-17.
Calculation of Diluted EPS (1) Treasury Method
希薄化後1株当たり利益の計算(1) 自己株式

KEYWORDS:
warrants / stock option = 入金あり --> treasury method
入金なし --> if-convertied method --> Unit 15-18.

NOTES:
期首、行使、仮定
権利行使での入金額で市場より自己株式を購入したと考える


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FAR3 [◎] Unit 15-18.
Calculation of Diluted EPS (2) If-Converted Method
希薄化後1株当たり利益の計算(2) 転換仮定法

KEYWORDS:
convertible bonds , convertible preferred stock = 入金なし --> if-convertied method
face amount
coupon rate = stated interest rate

NOTES:
期首、行使、仮定 --> 支払利息は発生してなかった筈
現金の入金なし

CB = convertible bonds
CS = converted stock

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FAR3 [○] Unit 15-19.
Presentation Requirements of EPS
1株当たり利益の表示

KEYWORDS:
simple capital structure
dual presentation ; basic and diluted EPS

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FAR3 [△] Unit 15-20.
Disclosure Requirements of EPS
1株当たり利益に関するその他の開示事項

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tag : CPA USCPA FAR

2017-03-26 20:27 : ├ FAR : コメント : 0 : トラックバック : 0 :

[FAR] Notes - FAR1 - Unit 1-1 to 5-14

FAR1 [○] Unit 1-1.
Generally Accepted Accounting Principles; GAAP
一般に認められた会計原則

KEYWORDS:
generally accepted accounting principles; GAAP
auditor
auditor's report
Financial Accounting Standards Board; FASB
U.S.GAAP
International Accounting Stardards Board; IASB
International Financial Reporting Standards; IFRS
convergence

NOTES:
FASB -> USGAAP
IASB -> IFRS

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FAR1 [△] Unit 1-2.
Developments in the U.S. Concerning IFRS
IFRSをめぐる米国の動向

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FAR1 [○] Unit 1-3.
The Structure of IFRSs
IFRSの基準体系

KEYWORDS:
International Accounting Standard Committee; IASC
International Accounting Standards; IAS
SIC Interpretations
Standing Interpretations Committee; SIC
International Accounting Stardards Board; IASB
International Financial Reporting Standards;IFRS
IFRIC Interpretations
IFRS Interpretations Committee; IFRIC

NOTES:
IFRSs =
IAS + SIC Interpretations
+ IFRS + IFRIC Interpretations

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FAR1 [○] Unit 1-4.
The Structure of U.S.GAAP
U.S.GAAPの基準体系

KEYWORDS:
Accounting Standards Condification; ASC
Topic, Subtopics, Sections, Subsections

NOTES:
main areas;
1. General Principles (Topic Codes: 105-199)
2. Presentation
3. Financial Statement Accounts
4. Broad Transactions
5. Industries

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FAR1 [○] Unit 1-5.
Definition of Recognition and Measurement
認識と測定の定義

KEYWORDS:
recognition
measurement

NOTES:
recognition; 何を認識するか; asset, liability, revenue, expense
measurement; いくらで測定するか; quantify
e.g.
historical cost, replacement cost, current market value, net realizable value, present value of future cash flows, monetary unit

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FAR1 [○] Unit 1-6.
IASB, FASB, and their Conceptual Framework
概念フレームワークに係るIASBとFASBの関係

KEYWORDS:
The Conceptual Fremework for Financial Reporting
Statements of Financial Accounting Concepts; SFAC

NOTES:
IFRS (incl. IAS, IFRS, SIC, IFRIC. excl. 概念FW)
developed by IASB
based on 概念FW (The Conceptual Framework for Financial Reporting)
USGAAP
developed by FASB (excl. 概念FW)
based on 概念FW (Statements of Financial Accounting Concepts; SFAC)

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FAR1 [○] Unit 1-7.
Statements of Financial Accounting Concepts; SFAC
財務会計概念書(SFAC)

KEYWORDS:
Financial Accounting Standards Board; FASB
Statements of Financial Accounting Concepts; SFAC

NOTES:
SFAC -- FASB --> GAAP

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FAR1 [○] Unit 1-8.
Hierarchies of Concepts within SFAC
財務会計概念書(SFAC)の階層

KEYWORDS:
SFAC

NOTES:
Lv.1 - Basic Objectives (SFAC1)
Lv.2 - Qualitative characteristics (SFAC8) + Elements (SFAC6)
Lv.3 - Recognition and measurement concepts (SFAC5)

Lv.2 > Qualitative characteristics (SFAC8) =
 Fundamental Qualitative Characteristics
 + Enhancing Qualitative Characteristics

Fundamental Qualitative Characteristics =
 Relevance
 + Faithful Representation
Enhancing Qualitative Characteristics =
 Comparability
 + Verifiability
 + Timeliness
 + Understandability

Lv.2 > Elements (SFAC6) =
 Assets
 + Liabilities
 + Equity
 + Investment by owners
 + Comprehensive income
 + Revenues
 + Expenses
 + Gains
 + Losses

Lv.3 > Recognition and measurement concepts (SFAC5) =
 Assumtions
 + Principles
 + Constraints

Assumptions = Economic entity + Going concern + Monetary unit + Periodicity
Pinciples = Historical cost + Revenue recognition + Matching + Full disclosure
Constraints = Cost-benefit + Materiality + Industry practice + Conservatism

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FAR1 [◎] Unit 1-9.
The Object of Financial Reporting (SFAC 8)
財務報告の目的(SFAC 8)

KEYWORDS:
SFAC Lv.1 - SFAC8

NOTES:
F/S should provide
USEFUL information to let
existing and potential investors, lenders, and other creditors
make decisions about providing resources to the entity.
F/S should provide the info regarding
the entity's economic resources
and the claims against the reporting entity.

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FAR1 [○] Unit 1-10.
Qualitative Characteristics of Useful Financial Information (SFAC 8)
意思決定に有用な財務報告情報の質的特性(SFAC 8)

KEYWORDS:
SFAC Lv.2 - SFAC8

NOTES:
Relevance = Predictive value + Confirmatory value
Faithful representation = Free from error + Neutrality + Completness

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FAR1 [◎] Unit 1-11.
Recognition and Measurement (1) Overview and Basic Assumptions (SFAC 5)
認識と測定の概念(1) 全体像と基本的前提(SFAC 5)

KEYWORDS:
SFAC Lv.3 - SFAC5
Recognition and measurement concepts
Basic assumptions
Basic principles of accounting
Constrains
Going concern
Revenue recognition
Matching
Cost-benefit
Materiality
Conservatism

NOTES:
Basic assumtions > going-concern assumption;
assumed to remain in existence for an indeterminate period of time.
Basic principles of accounting -> Unit 1-12.
Constrains -> Unit 1-13.

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FAR1 [◎] Unit 1-12.
Recognition and Measurement (2) Basic Principles of Accounting (SFAC 5)
認識と測定の概念(2) 基本的会計原則(SFAC 5)

KEYWORDS:
SFAC Lv.3 - SFAC5
historical cost principle
revenue recognition principle
accrual basis
realization concept
realized, realizable
earned, delivery
matching principle

NOTES:
accrual basis <--> cash basis
accrual basis over assets, expenses
matching b/w expenses and revenues
realization concept over revenues

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FAR1 [◎] Unit 1-13.
Recognition and Measurement (3) Constraints (SFAC 5)
認識と測定の概念(3) 制約(SFAC 5)

KEYWORDS:
SFAC Lv.3 - SFAC5
constraints
cost-benefit relation ship
materiality
conservatism

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FAR1 [○] Unit 1-14.
Elements of Financial Statements (SFAC 6)
財務諸表の構成要素(SFAC 6)

KEYWORDS:
SFAC Lv.2 - SFAC6

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FAR1 [△] Unit 1-15.
Using Cash Flow Information and Present Value in Accounting Measurements (SFAC 7)
測定におけるキャッシュ・フロー情報および現在価値の使用(SFAC 7)

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FAR1 [◎] Unit 2-1.
A Full Set of Financial Statements For a Period
財務諸表の完全な一式

KEYWORDS:
basic financial statements; a full set of financial statements for a period
i - BS; balance sheet
ii - IS; income statement, statement of comprehensive income (PL)
iii - statement of cash flow
iv - statement of stockholders' equity

NOTES:
IS; earnings (net income) for the period
SEC; Securities Exchange Committee
public company; Form 10-K (=annual), Form 10-Q (=quarterly)
private company
consolidated financial statement

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FAR1 [○] Unit 2-2.
Presentation of Comparative Information
比較情報の表示

KEYWORDS:
comparative financial statement
GAAP; public company; BS 2期, IS 3期
IFRS; public company; BS 2期, IS 2期
retrospective application

NOTES:
BS; As of December 31, 20x2
IS; For the year ended December 31, 20x2

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FAR1 [◎] Unit 2-3.
Balance Sheet
貸借対照表

KEYWORDS:
balance sheet
statement of financial position
format;
account form (2 columns; Dr on left, Cr on right)
or report form (1 column, Dr followed by Cr)

NOTES:
Dr. Asset;
- Current assets
- Long-term investments
- Property, plant, and equipment; PPE
- Intangible assets, net of amortization
- Other assets
Cr. Liabilities;
- Current liabilities
- Noncurrent liabilities
Cr. Stockholders' Equity; SE;
- Capital stock
- Additional paid-in capital
- Retained earnings
-Accumulated other comprehensive income

!! 注意 !!
Current assets
 - trading securities 売買目的有価証券
 - advances to employees 従業員への前渡金
Long-term assets
 - sinking funds for bond retirement 減債償却基金
Other non-current assets
 - loans to officiers 執行役員への貸付金
PP&E
 - leasehold improvements 建物付属設備
 - capital lease キャピタルリース

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FAR1 [◎] Unit 2-4.
Income Statement
損益計算書

KEYWORDS:
income statement; statement of income; statement of earnings; statement of operations
net income

NOTES:
Dr. Exp. + NI
Cr. Rev.
by function

1st portion; till income from continuing operation (経常項目)
2nd portion; till net income
3rd portion; other comprehensive income

//Stmt of earnings and comprehensive income

Sales revenue
Cost of goods sold; CGS
Gross margin on sales
Operating expenses; SGA
- Selling expenses
- General and administrative expenses
Operating income
Other revenues and gains
- Interest revenue
- Equity in xxx company earnings
- Gain on sale of available-for-sale securities
Other expenses and losses
- Interest expenses
- Loss from impairment of manufacturing facilities
Income form continuing operations before provision for income taxes
Income tax expenses
- Current
- Deferred
Income from countinuing operations

Descontimued operations
- Loss from operations of discountinued Division Z, including loss on disposal of $50
- Income tax benefit
Net income

Other comprehensive income; OCI
- Foreign currency transaction adjustments (less applicable income taxes of $17)
- Unrealized gains on securities
Other comprehensive income
Comprehensive income//

cf. provisional income 暫定所得額 @REG

!! 注意 !!
income from continuing operations 継続事業による利益 :
 - loss due to earthquake
 - interest revenue
 - gain on sale of available-for-sale securities
net income 当期純利益 :
 - loss from operations of discontinued division
other comprehensive income その他の包括利益 :
 - unrealized gains on securities 売却可能有価証券に係わる未実現利得
 - foreign currency translation adjustments 外貨換算調整額

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FAR1 [○] Unit 2-5.
Concept of Comprehensive Income
包括利益の概念

KEYWORDS:
comprehensive income
net income
other comprehensive income

NOTES:
comprehensive income = net income + other comprehensive income
net income = 確定した利益
other comprehensive income; OCI = 確定していない損益 (含み損益)
e.g. 売却可能有価証券の未実現保有損益
accumulated other comprehensive income; AOCI - @BS/Cr/SE

cf.
day 1: Dr. Investment (@BS) 100K / Cr. Cash 100K
day 2: Dr. Investment (@BS) 20K / Cr. OCI 20K


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FAR1 [◎] Unit 2-6.
Components of Income Statement (1) Operating Income/Expenses
損益検査員書の構成要素(1) 営業利益/費用

KEYWORDS:
operating income = 営業利益 = 企業の本業による利益
operating expenses; SGA; selling expenses + general and administrative expenses = 販管費

NOTES:
selling expenses;
e.g. freight-out - @IS/Dr/Exp.
cf. freight-in - @BS/Dr/Inventory --> Unit 4-1.
general and administrative expenses; G&A

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FAR1 [◎] Unit 2-7.
Components of Income Statement (2) Other Revenues and Gains/Expenses and Losses
損益検査員書の構成要素(2) その他の収益及び利益/費用及び損失

KEYWORDS:
other revenue and gains
other expenses and losses
unusual in nature
infrequent in occurrence

NOTES:
other revenue:
 - interest revenue
 - dividend revenue
 - rent revenue
other expenses:
 - interest expenses
other gains:
 - gain on sale of property, plant, and equipment
 - gain on sale of investment securities
 - gain on retirement of bonds
other losses:
 - loss on sale of property, plant, and equipment
 - loss on sale of investment securities
 - loss on retirement of bonds
 - impairment loss 減損 -> Unit 6-18.

Operating income
+ other revenue and gains (= nonoperating; 非営業)
- other expenses and losses (= nonoperating; 非営業)
= income/loss from continuing operations
± discontimued operations result
= NI

@購入
Dr. PPE (BS) 100 / Cr. Cash 100
@売却
Dr. Cash 80,
 loss (@other) 20 / Cr. PPE 100

PPE = sth held for use

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FAR1 [○] Unit 2-8.
Statement of Stockholder's Equity
株主持分計算書

KEYWORDS:
statement of stockholders' equity
stockholders' equity
reconciliation

NOTES:
BB of stockholder's equity
+ NI
+ OCI
- dividends
+other changes in equity and adjustments
= EB of stockholder's equity

BB = beginning balance
EB = ending balance

RE は NI で増加し、dividends で減少する

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FAR1 [△] Unit 2-9.
Long-Lived Assets Held for Sale
売却目的保有の長期性資産

KEYWORDS:
long-lived assets held for sale

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FAR1 [△] Unit 2-10.
Discountinued Operations
非継続事業

KEYWORDS:
discontinued operations

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FAR1 [○] Unit 2-11.
Classification of Gain or Loss from Discountinued Operations
非継続事業による損益の分類

KEYWORDS:
measurement date
disposal date
phase-out period

NOTES:
measurement date; 測定日
disposal date; 処分日
phase-out period; from measurement date to disposal date

income or loss from discontinued operations =
disposal date までに発生する事業損益 + gain or loss on disposal

gain or loss on disposal =
impairment loss (IS) + gain or loss on sale (IS)

impairment loss on measurement date
gain or loss on sale on disposal date

impairment loss (IS) = FV - disposal cost - BV
gain or loss on sale (IS) = Proceeds disposal cost - BV

proceeds = 売却額

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FAR1 [○] Unit 2-12.
Disposal Date of Discountinued Operation Subsequent to Year End
非継続事業の処分日が翌期となる場合

NOTES:
one more impairment loss on closing date

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FAR1 [○] Unit 2-13.
Accounting for and Presentation of Discountinued Operations
非継続事業の会計処理と表示

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FAR1 [○] Unit 2-14.
Extraordinary Items
異常項目

KEYWORDS:
unusual in nature
infrequent in occurence

NOTES:
extraordinary items when meet both;
- unusual in nature
- infreqquent in occurrence.
otherwise, go to other revenue/gain/expenses/losses.
--> no longer now.

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FAR1 [△] Unit 2-15.
Disclosure of Accounting Policies
財務諸表を作成する際の会計方針の開示

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FAR1 [△] Unit 2-16.
Related Parties
関連当事者

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FAR1 [△] Unit 2-17.
Disclosure of Significant Risks and Uncertainties
重要なリスクと不確実性についての開示

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FAR1 [△] Unit 2-18.
Subsequent Events
後発事象

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FAR1 [△] Unit 2-19.
Fair Value Measurement and Disclosure
公正価値の測定と開示

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FAR1 [○] Unit 3-1.
Definition and Examples of Current Assets
流動資産の定義と主な項目

KEYWORDS:
current assets
within a year
operating cycle
cash conversion cycle; CCC
one-year rule

NOTES:
current assets = operating cycle rule or one-year rule

prepaid expenses - e.g. rent
02/28 prepaid rent (BS) / cash
03/01 rent exp. (IS) / prepaid rent

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FAR1 [◎] Unit 3-2.
Components of Cash and Cash Equivalent and Presentation
現金及び現金同等物の構成要素および表示

KEYWORDS:
cash equivalent
saving account
checking accounts
checks
Treasury Bills; TB
Commercial Paper; CP
Money Market Fund; MMF

NOTES:
TB 米国財務省短期証券
CP 優良企業発行短期社債
MMF 短期金融市場投資信託

例外 - restricted cash
- 法律の規制
- 外貨の規制
- 減債基金 (bond sinking fund)
なりで動かせない現金と現金同等物

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FAR1 [◎] Unit 3-3.
Check
小切手

KEYWORDS:
check, payer, payee, checking account

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FAR1 [○] Unit 3-4.
Types of Checks
小切手の種類

KEYWORDS:
outstanding check
postdated check
not sufficient funds check; NSF check
cancelled check
void check

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FAR1 [◎] Unit 3-5.
Bank Reconciliation
銀行勘定の調整

KEYWORDS:
book, bank statement
bankreconcilation
deposit in transit

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FAR1 [○] Unit 3-6.
Credit Terms and Evaluation of Accounts Receivable
主な支払い条件と売掛金の評価

KEYWORDS:
COD; Cash on Delivery
2/10, net 30 - cash discountinued - 2% discount for payment in 10 days or net value for a transaction due on 30 days later.
due date
gross method - Sales discounts = contra account of revenue (IS)
net method - Sales discounts forfeited -> other revenues and gains (IS)
allowance for doubtful accounts; ADA
net realizable value; NRV

NOTES:
2/10, net 30

Gross Method; 総額計上法
day01 - Dr. A/R 5K / Cr. Sales revenue 5K
day05 - Dr Cash 1960 (=2K x 98%), Sales discount (IS) 40 - plug / Cr. A/R 2K
day25 - Dr. Cash 3K / Cr A/R 3K

Net Method; 純額計上法
day01 - Dr. A/R 4.9K / Sales revenue 4.9K
day05 - Dr. Cash 1960 / A/R 1960
day25 - Cash 3K / Cr. A/R 2940, Sales discount forfeited 60 - plug

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FAR1 [◎] Unit 3-7.
Accounting Treatment for Allowance for Doubtful Accounts
貸倒引当金の会計処理

KEYWORDS:
売掛金の評価法
- Direct write-off method --> NO LONGER
- Allowance method
reversal <--> provision

NOTES:
A/R - ADA = NRV
allowance for doubtful accounts = contra account of asset

Allowance method
期中は BS に貯めておき、期末にIS計上
期末に ADA (BS) を一定額に持っていく為の差額を Bad debt expense で IS に計上する ★TBC - ADAはBSでなくIS, A/Rのcontra account?

@beginning of year 1 / Ending of year 0
  Dr. Bad debt expense (IS, Exp.) 20K / Cr. Allowance for doubtful accounts (BS, Asset) 20K
@in the year 1
  Dr. ADA (BS) 2K / Cr A/R (BS) 2K
@ending of year 1
  Dr. Bad debt expense (IS) 4K / ADA (BS) 4K
@in the year 2
  Dr. A/R 1K / Cr. ADA (BS) 1K
  Dr. Cash 1K / Cr. A/R (BS) 1K
@ending of year 2
  Dr. ADA (BS) 1K / Cr. Bad debt expense 1K

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FAR1 [○] Unit 3-8.
Calulation of Allowance for Doubtful Accounts (1) Percentage of Sales Approach
貸倒引当金の計算方法(1) 売上高比率法

KEYWORDS:
income statement approach

NOTES:
income statement approach
=当期のSales(IS)に対して何%が回収不能かを見積もる
当期売上金額 x ratio = 当期の貸倒引当金繰入額; Bad debt expense (IS)
期末に IS の Bad debt expense を合わせに行く
Dr. Bad debt exp. (IS) / Cr. Allowance for DA (BS)

write-off = 貸倒処理
Dr. Allowance for DA / Cr. A/R

income statement approach は、前期分からの ADA の持ち越しナシ

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FAR1 [◎] Unit 3-9.
Calculation of Allowance for Doubtful Accounts (2) Percentage of Receivables Approach
貸倒引当金の計算方法(2) 売掛金残高比率法

KEYWORDS:
balancesheet approach

NOTES:
balancesheet approach
=当期のA/R(BS)に対して何%が回収不能かを見積もる
期首に貸倒引当金の残高が残っていた場合は
当期の貸倒引当金繰入額(bad debts expense)は差額分のみ

A/R x ratio = Allowance for DA (DS)
期末のBSに引当金として計上する金額 - 期末の調整前の引当金の残高 = 当期のBad debts expense (IS)

ADA を、期末/期首のA/R x ratio の値に合わせに行く。
ADAは前期分を引き継ぐ。差額分を bad debt expense (IS) で±して調整する

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FAR1 [△] Unit 3-10.
Transfer of Receivables
債券の譲渡引渡取引

KEYWORDS:
secured borrowing
- bankruptcy remote
- free
- no repurchase/redeem
recourse obligation; リコース義務; 遡及義務

NOTES:
債券の売却は、secured borrowing より sale にしたいもの。会計処理が楽だから
sales にするためには条件が 3つを満たす必要あり

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FAR1 [△] Unit 3-11.
Accounting Treatment for Transfer of Receivables - Secured Borrowing
債券の譲渡を担保付借入とみなす場合の会計処理

KEYWORDS:
assigned accounts receivable; 担保になってるA/R
notes payable; 借金

NOTES:
@借入
  Dr. Assigned accounts receivable 10K / Cr. A/R 10K
  Dr. Cash 9900, Finance charge 100 / Cr. Notes payable 10K
@債券回収
  Dr. Cash 10K / Assigned accounts receivable 10K
  Dr. Notes payable 10K, interest expense 300 / Cr. Cash 10300

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FAR1 [△] Unit 3-12.
Accounting Treatment for Transfer of Receivables - Sale
債券の譲渡を売却とみなす場合の会計処理

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FAR1 [△] Unit 3-13.
Accounting Treatment for Factoring (1) Without Recourse
ファクタリングの会計処理(1) 李コース義務がない場合

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FAR1 [△] Unit 3-14.
Accounting Treatment for Factoring (2) With Recourse
ファクタリングの会計処理(2) リコース義務がある場合

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FAR1 [△] Unit 3-15.
Securitization of Receivables
債券の証券化

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FAR1 [◎] Unit 4-1.
Concept of Inventory and Components of Costs
棚卸資産の概念と原価の構成要素

KEYWORDS:
Inventory, tangible, held for sale
finished goods; FG
work-in-process; WIP
raw materials; RM
supplies
held for use --> PPE
expenditure = cash-out
cost inclusion = BS
direct material costs; DM
direct labor costs; DL
factory overhead; FOH

NOTES:
cost inclusion = BS
freight-in -> inventory <--> freight-out = selling exp. @SGA, IS --> Unit 2-6.

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FAR1 [○] Unit 4-2.
Terms of Delivery
商品引渡しの条件

KEYWORDS:
common carrier
FOB; free on board

NOTES:
FOB shipping point
FOB destination

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FAR1 [△] Unit 4-3.
Recording Systems of inventory
棚卸資産の記録方法

KEYWORDS:
physical inventory count
perpetual inventory system = 継続記録法
periodic inventory system = 棚卸計算法

NOTES:
perpetual inventory system = 認識 @販売時
day1
 Dr.Inventory 3K / Cr. A/P 3K
day2
 Dr A/R 2K / Sales revenue 2K
 Dr. CGS (IS) 1K / Cr. Inventory 1K

periodic inventory system = 認識 @期末
day1
 Dr.Purchases 3K / Cr. A/P 3K
day2
 Dr A/R 2K / Cr.Sales revenue 2K
day3 - ending
 Dr.Inventory (by count) 2K, Dr.CGS (plug, IS) 1K
   Cr. Purchases 3K

Inventory:
Dr. ①BI + ②P
Cr. ④CGS (IS, Exp, by plug) + ③EI (BS, Asset, by FIFO, Ave, LIFO)

−−−−−−−−−−
FAR1 [△] Unit 4-4.
Inventory Valuation Method (1) Specific Identification
棚卸資産の評価方法(1) 個別法

−−−−−−−−−−
FAR1 [◎] Unit 4-5.
Inventory Valuation Method (2) First-in First-out Method
棚卸資産の評価方法(2) 先入先出法

KEYWORDS:
FIFO perpetual method
FIFO periodic method

−−−−−−−−−−
FAR1 [◎] Unit 4-6.
Inventory Valuation Method (3) Average Cost Method
棚卸資産の評価方法(3) 平均法

KEYWORDS:
Moving-average method
Weighted-average method

−−−−−−−−−−
FAR1 [◎] Unit 4-7.
Inventory Valuation Method (4) Last-in First-out Method
棚卸資産の評価方法(4) 後入先出法

KEYWORDS:
LIFO perpetual method
LIFO periodic method
LIFO liquidation

NOTES:
LIFO liquidation
過年度のLIFOの層(LIFO layers)が費用化される現象
IFRSではLIFOは禁止

−−−−−−−−−−
FAR1 [○] Unit 4-8.
Dollar-Value LIFO Method
ドル価値後入先出法

KEYWORDS:
LIFO liquidation = 昔に安値で仕入れた物が売れた
Dollar-Value LIFO Method
price index 価格指数

NOTES:
IFRSではNG, USGAAPはOK

step 1 - base yearに換算 (価格指数で割る)
step 2 - 前年末と比較して、EIの増減の見極め
step 3 - 増減分を本年度の価格に再評価 (価格指数で掛ける) - accumulateされてく

→ (物価が上がった想定で) EI が小さくなる = CGS が大きくなる
= Asset が小さく、Expense が大きくなる = NI が小さくなる = 保守的

−−−−−−−−−−
FAR1 [◎] Unit 4-9.
Lower of Cost or Market Basis (1) Definition
低価法(1) 定義

KEYWORDS:
Lower of Cost or Market; LCM
Net Realizable Valuel NRV
ceiling, floor

NOTES:
Inventory は、基本原価。ただ、例外的に低価法 = 原価と時価の低い方
FIFO, LIFE, Ave は全部原価ベース

時価 @売却 = NRV = Selling price - Selling cost (cf. Unit 3-8. 貸倒引当金; allowanceを引いた額をBS,Asset,A/Rに載せる)
時価 @仕入 = replacement cost (再調達原価)

低価法における時価はreplacement cost
cf. e.g. - lower of FIFO or replacement cost

ceiling = NRV
floor = NRV - normal profit

replacement cost should be b/w seiling and floor (cf. IFRSはceiling/floorとか無い)

−−−−−−−−−−
FAR1 [◎] Unit 4-10.
Lower of Cost or Market Basis (2) Application of LCM
低価法(2) 適用

KEYWORDS:
write down = 評価減

NOTES:
step 1: which is lower cost or replacement cost
step 2: b/w ceiling and floor, or ceiling/floor の price を取る

write-down した物は物価が戻っても価格を戻せない = USGAAP (cf. IFRS は戻入 OK。但し、当初の評価額が上限)

−−−−−−−−−−
FAR1 [○] Unit 4-11.
Purchase Commitments
購入契約

KEYWORDS:
purchase commitments = 購入契約
noncancellable
obsolescence = 陳腐化 = e.g. 購入約束価格より時価の安くなった
Estimated loss <--> Accrued loss

NOTES:
purchase commitments = 先日付での購入約束
陳腐化が見えた時に損計上する = Estimated loss (IS) <--> Accrued loss (BS, Liabilities) で差額計上

yr1 - Dr. Estimated Loss on purchase commitment 時価と契約の差額 / Cr. Accrued loss on purchase commitment 時価と契約の差額
yr2 - Dr. Inventory 時価, Accrued loss on purchase commitment 時価と契約の差額 / Cr. Cash

−−−−−−−−−−
FAR1 [○] Unit 4-12.
Gross Profit Method
総利益法

KEYWORDS:
Gross Profit Methos
interim FS = 中間財務諸表
gross profit percentage
physical count
★★★kevwords★★★

NOTES:
Gross Profit Method = 簡便法。GAAPでは限定的に許容される
条件: 天然災害 or 中間財務諸表
過去のGPの比率(粗利率)で算出すること
粗利率が前年と同じとして、Inventory BI -> P -> CGS -> EI を出しちゃう方法
本当は BI -> P -> EI -> CGS

−−−−−−−−−−
FAR1 [○] Unit 4-13.
Retail Method (1) Concept
売価還元法(1) 概要

KEYWORDS:
Retail Method
Cost-to-retail retio = 原価率

NOTES:
売値(retail price)を使ってEIを出す方法
Inventory の BOX を Cost と Retail の2つ書く
売価でEI出す -> 原価率を掛けて、原価のEIを出す

−−−−−−−−−−
FAR1 [△] Unit 4-14.
Retail Method (2) Calculation of Cost-to-retail Ratio
売価還元法(2) 原価率の計算

KEYWORDS:
markups = 値上金額
markdowns = 値下金額

−−−−−−−−−−
FAR1 [○] Unit 5-1.
Definition of Current Liabilities
流動負債の定義

KEYWORDS:
Current Liabilities
short-term debt
accounts payble - cf. Inventory, CGS
accrued expenses = 未払費用 cf. SGA
salaries payable
dividends payable
taxes payable

NOTES:
1yr以内に支払義務のある債務

−−−−−−−−−−
FAR1 [○] Unit 5-2.
Accounts Payable
代表的な流動負債の会計処理(1) 買掛金

KEYWORDS:
Accounts Payable
open account, on credit = 掛け購入, 信用購入

NOTES:
仕入に付随する

−−−−−−−−−−
FAR1 [○] Unit 5-3.
Salaries Payable
代表的な流動負債の会計処理(2) 未払給与

KEYWORDS:
Salaries Payable (BS) - 流動負債
Salaries expense (IS)

NOTES:
当月分を25日払い = 月末〆なら5日分を先払いしてる

−−−−−−−−−−
FAR1 [○] Unit 5-4.
Taxes Payable
代表的な流動負債の会計処理(3) 未払税金

KEYWORDS:
Taxes Payable
sales tax

NOTES:
事業単位
sales tax は、基本四半期毎に納付するもの。
但し、一定額を預り税が超えてる場合、四半期関係なく翌月に超過分を納付する。

−−−−−−−−−−
FAR1 [○] Unit 5-5.
Interest Payable
代表的な流動負債の会計処理(4) 未払利息

KEYWORDS:
Interest Payable
Interest Expense (IS, Other)
Accrued Interest (BS, Liabilities)
calendar year = 暦年

−−−−−−−−−−
FAR1 [△] Unit 5-6.
Escrow Accounts Liability
代表的な流動負債の会計処理(5) 保護預り負債

KEYWORDS:
Escrow Accounts Liability

NOTES:
中立的な第三者が預かるお金
Dr. Cash / Cr. Escrow liability (BS) = 預かってるお金なので負債。

−−−−−−−−−−
FAR1 [◎] Unit 5-7.
Refinancing of Short-term Debt
短期買入金の借換え

KEYWORDS:
Notes Payable; NP
intend
ability
refinance

NOTES:
借入の時は流動にせずに固定に入れる。
会社は流動負債を小さくしたいもの。 = 流動比率を上げたいから

以下を満たせば、先日付なものでもその分を流動から固定に計上できる (USGAAPがOKで、IFRSはNG)
借換えの意志があること = intends to refinance
借換えの能力があること = ability to refinance

−−−−−−−−−−
FAR1 [○] Unit 5-8.
Gift Certificate
商品券の会計処理

KEYWORDS:
gift certificate
unearned revenue (BS, Liability)
revenue at delivery
deferred revenue = 繰延収益

NOTES:
販売代金を前受
@商品券売却 - Dr. Cash / Cr. unearned revenue (BS)
@delivery - Dr. unearned revenue (BS) / Sales revenue (IS)
@有効期限 - Dr. Unearned revenue / Cr. Sales revenue

−−−−−−−−−−
FAR1 [○] Unit 5-9.
Subsriptions
雑誌等の予約申込の会計処理

KEYWORDS:
Subsriptions
unearned revenue

NOTES:
delivery するまでは subscription reveue (IS) は ゼロ

−−−−−−−−−−
FAR1 [○] Unit 5-10.
Concept of "Evenly"
「均等」の概念

KEYWORDS:
unearned revenue (BS, Liability)
evenly

NOTES:
eveny -> over its period で中間地点で販売したと見なす

−−−−−−−−−−
FAR1 [○] Unit 5-11.
Product Warranties
製品保証の会計処理

KEYWORDS:
warranty
expenditure = cash-out
warranty expense (IS)
Matching concept = 費用収益対応原則
conservatism

NOTES:
warranty expense (IS) -> 製品の引渡で認識

売れたのは保証がついていたからと考える。
@delivery
Dr. Cash / Cr. Sales Revenue
Dr. warranty expense / Cr. warranty liability
@repair
Dr. warranty liability / Cr. cash

製品 = 自分で作って売るもの
商品 = 仕入れて売るもの

−−−−−−−−−−
FAR1 [○] Unit 5-12.
Definition Contigencies
偶発事象の定義

KEYWORDS:
contingencies = 偶発事象 cf. 裁判、訴訟

NOTES:
@違法行為
Dr. Loss from damaged claim (IS) / Cr. Estimated Liability for damages (BS)
@判決
Dr. Estimated liability for damages (BS) / Cr. Cash

−−−−−−−−−−
FAR1 [◎] Unit 5-13.
Recongnition and Disclosure of Contingencies
偶発事象の認識及び開示

KEYWORDS:
contingencies

NOTES:
被告の場合 - 敗北率 - 3段階
- 大 Probable = over 80%
- 中 Resonably possible = 50 ~ 80 %
- 小 remote = <50%

大 x resonably estimable 金額見積可能 -> 損失を前倒しして負債を認識する
大 x 金額範囲見積可能 -> better estimate もしくは range の minimum amount を損失として認識 (保守主義でもココではminimumを採用する)
大 x 金額見積困難 -> 開示のみ
中 -> 負債認識不要、注記による開示(disclosure)
小 -> 負債認識不要、注記開示も不要

原告の場合
利益の前倒し計上 gain contingencies は NG cf. 保守主義

−−−−−−−−−−
FAR1 [○] Unit 5-14.
Compensated Absences
有給休暇の会計処理

KEYWORDS:
compensated absences

NOTES:
消化ではなく付与した時に計上 - IS

@有休付与時 @期末
Dr. Compensated absence expense (IS) / Cr. Accrued liability for compensated absence (BS)
繰越有休分の費用は昇級に応じて再評価する

差額補充法 = BS アプローチ cf. A/R, Unit 3-9.
step 1 - 残高を決める
step 2 - 必要額を補充する

vests or accumulates - 確定しているか
cf. 有休+病休がある場合 -> 病休は確定していないので負債計上しない

−−−−−−−−−−

tag : CPA USCPA FAR1 IFRS SFAC BS IS Dr Cr GAAP

2017-03-10 08:36 : ├ FAR : コメント : 0 : トラックバック : 0 :

[FAR] quiz #1/2

1
According to the FASB conceptual framework, the objectives of financial reporting for business enterprises are based on
A. The need for conservatism.
B. Reporting on management's stewardship.
C. Generally accepted accounting principles.
D. The needs of the users of the information.


FASBの概念的枠組みによれば、企業の財務報告の目的は、
A.保守主義の必要性。
B.管理職のスチュワードシップに関する報告。
C.一般に認められた会計原則。
D.情報の利用者のニーズ。

→ D//

cf.
FASB; conceptual framework; SFAC

2

According to the FASB conceptual framework, which of the following statements conforms to the realization concept?
A. Equipment depreciation was assigned to a production department and then to product unit costs.
B. Depreciated equipment was sold in exchange for a note receivable.
C. Cash was collected on accounts receivable.
D. Product unit costs were assigned to cost of goods sold when the units were sold.


FASBの概念的枠組みによれば、以下の記述のどれが実現のコンセプトに適合しているか?
A.装置減価償却は生産部門に割り当てられ、次に製品単価に割り当てられた。
B.減価償却された機器は、受取手形と引き換えに売却された。
C.売掛金を回収した。
D.製品単位原価は、単位の販売時に販売された原価に割り当てられていた。

→ D//

cf. FASB; conceptual framework; realization concept

3

Which of the following should be included in general and administrative expenses?
Interest Advertising
A. Yes Yes
B. Yes No
C. No Yes
D. No No

次のうち一般管理費に含めるべきものはどれか?

→ B//

cf. general and administrative expenses

4

In analyzing a company's financial statements, which financial statement would a potential investor primarily use to assess the company's liquidity and financial flexibility?
A. Balance sheet.
B. Income statement.
C. Statement of retained earnings.
D. Statement of cash flows.

潜在的な投資家は、会社の財務諸表を分析する際に、会社の流動性と財務の柔軟性を評価するために主に使用する財務諸表をどのようなものにしますか?

→ A//

cf. company's liquidity and financial flexibility


5
 
At January 1, 20x1, Jamin Co. had a credit balance of $260,000 in its allowance for uncollectible accounts. Based on past experience, 2% of Jamin's credit sales have been uncollectible. During 20x1, Jamin wrote off $325,000 of uncollectible accounts. Credit sales for 20x1 were $9,000,000. In its December 31, 20x1 balance sheet, what amount should Jamin report as allowance for uncollectible accounts?
A.           $115,000
B.           $180,000
C.           $245,000
D.           $440,000
 
1月1日、20x1でJamin Co.は、回収不能口座に対する貸倒引当金26万ドルを有していた。過去の経験から、Jaminのクレジット売上の2%は回収不能であった。 20倍の間、ジャミン氏は325,000ドルの回収不能口座を手に入れました。 20x1の信用販売額は9,000,000ドルだった。 12月31日、20x1の貸借対照表において、ジャミンが回収不能な勘定の引当金として報告すべき金額は?
 
→ C//
cf. allowance for uncollectible accounts (Unit 3-6+)
 
2001/1/1 allowance for uncollectible accounts 260K
2% on AR = uncollectible
during 2001 wrote-off 325K - uncollectible accounts
during 2001 AR 9000K
2001/12/31 x = allowance for uncollectible accounts on BS
---
BB 260K - 325K + x = 9000K * 2% = EB 180K
x = 245


6

The following information applied to Fenn, Inc. for 20x1:

Merchandise purchased for resale $400,000
Freight-in 10,000
Freight-out 5,000
Purchase returns 2,000
Fenn's 20x1 inventoriable cost was
A. $400,000
B. $403,000
C. $408,000
D. $413,000

→ D TBC
inventoriable cost


7 - TODO ★★
 
Lewis Company's usual sales terms are net 60 days, FOB shipping point. Sales, net of returns and allowances, totaled $2,300,000 for the year ended December 31, 20x1, before year-end adjustments. Additional data are as follows:
 
・On December 27, 20x1, Lewis authorized a customer to return, for full credit, goods shipped and billed at $50,000 on December 15, 20x1. The returned goods were received by Lewis on January 4, 20x2, and a $50,000 credit memo was issued and recorded on the same date.
・Goods with an invoice amount of $80,000 were billed and recorded on January 3, 20x2. The goods were shipped on December 30, 20x1.
・Goods with an invoice amount of $100,000 were billed and recorded on December 30, 20x1. The goods were shipped on January 3, 20x2.
Lewis' adjusted net sales for 20x1 should be
A.           $2,330,000
B.           $2,280,000
C.           $2,250,000
D.           $2,230,000
 
ルイス・カンパニーの通常の販売条件は、純60日、FOB出荷ポイントです。売上高は、期末調整前の20x1の12月31日に終了した事業年度に計上された返品および引当金を控除したものです。追加データは次のとおりです。
 
・20x1 12月27日、ルイスは、20x1 12月15日に出荷され、5万ドルで請求された商品を全額返品することを顧客に許可しました。返品は1月4日、20x2でLewisに受け取り、50,000ドルのクレジットメモが発行され、同じ日付に記録されました。
・請求書金額が$ 80,000の商品は、20x2の1月3日に請求され記録されました。商品は20x1 12月30日に出荷されました。
・請求書金額が10万ドルの商品は、20x1 12月30日に請求され記録されました。商品は1月3日、20x2で出荷されました。
ルイスの20x1調整純売上高は
 
x = net sales for Y1
 
net 60
FOB shipping point
shipped out during Y1 = 2300K
adjustment:
Y1/12/27
 - Dr. return (received on Y2/1/4)/ Sales 50K (booked on 12/15)
- Dr. AP 50 / Cr. Cash
Y2/1/4
- Dr. NP 50 / Cr. AP 50
Y1/12/30
- Dr. AR 80K / Cr. Sales 80K
Y2/1/3
- Dr. Cash 80K / Cr. AR 80K
Y1/12/30
- Dr. goods shippable 100K ?? / Cr. unearned revenue 100K
Y2/1/3
- Dr. goods shippable 100K ?? / Cr. Inventory 100K
- Dr. unearned revenue 100K / Cr. Sales 100K
 
cf.
unearned revenue [前受収益] - 代金の受け取りがサービスの提供より前に行われた場合で、提供していないサービスを負債計上する科目
accrued revenue [未収収益] - 代金受領よりサービスの提供が前になった場合で、その金額を資産計上する科目


8 - TODO ★★
 
On September 1, 20x1, Brak Co. borrowed on a $1,350,000 note payable from Federal Bank. The note bears interest at 12% and is payable in 3 equal annual principal payments of $450,000. On this date, the bank's prime rate was 11%. The first annual payment for interest and principal was made on September 1, 20x2. At December 31, 20x2, what amount should Brak report as accrued interest payable?
A.           $54,000
B.           $49,500
C.           $36,000
D.           $33,000
 
Brax社は、20x1年9月1日、連邦銀行から支払われる1,350,000ドルの手形を借りた。この利息は12%の利息を有しており、3件の元本支払額が450,000ドルで支払われる。この日、銀行のプライム・レートは11%でした。利子および元本の第1回年次支払いは、20x2の9月1日に行われました。 12月31日、20x2で、Brakは未払利息としてどの金額を報告すべきですか?
 
x = accrued interest payable at Y2/12/31
Y1/9/1 Dr. Cash / Cr. NP 1350K - int 12%, 3 equal annual principal = 458K
prime rate 11%...
 
cf. prime rate, interest


9
 
Merry Co. purchased a machine costing $125,000 for its manufacturing operations and paid shipping costs of $20,000. Merry spent an additional $10,000 testing and preparing the machine for use. What amount should Merry record as the cost of the machine?
A.           $155,000
B.           $145,000
C.           $135,000
D.           $125,000
 
Merry Co.は、製造作業で$ 125,000の原価計算機を購入し、$ 20,000の配送料を支払った。メリーはさらに10,000ドルのテストとマシンの使用準備をしました。メリーはマシンのコストとしてどのくらいの金額を記録する必要がありますか?
 
→ A//
 
PPE 125K / Cash 125K
125 + freight-in 20K + implementation 10K = 155K


10 - TODO ★★

 
On July 1, 20x1, in an exchange with commercial substance, Balt Co. exchanged a truck for 25 shares of Ace Corp.'s common stock. On that date, the truck's carrying amount was $2,500, and its fair value was $3,000. Also, the book value of Ace's stock was $60 per share. On December 31, 20x1, Ace had 250 shares of common stock outstanding and its book value per share was $50. What amount should Balt report in its December 31, 20x1 balance sheet as investment in Ace?
A.           $3,000
B.           $2,500
C.           $1,500
D.           $1,250
 
商業用物質との交換で、20x1の7月1日に、Balt Co.は、Ace Corp.の普通株式25株のトラックを交換した。その日、トラックの帳簿価額は2,500ドルであり、公正価値は3,000ドルでした。また、エースの株式の簿価は1株当たり60ドルでした。 12月31日、20x1で、エースは発行済みの普通株式250株を有し、1株当たりの簿価は50ドルでした。バルトは、12月31日、20x1のバランスシートをエースへの投資としてどのような金額で報告すべきですか?
 
x = investment in Ace on Y1/12/31 BS
Y1/7/1 Inventory/truck 25
AD 2500
FV 3K
BV on Ace 60 * 25 = 1500
Y1/12/31
 
cf. carrying amount, investment (Unit 2-5)



11

In 20x1, Super Comics Corp. sold a comic strip to Fantasy, Inc. and will receive royalties of 20% of future revenues associated with the comic strip. At December 31, 20x2, Super reported royalties receivable of $75,000 from Fantasy. During 20x3, Super received royalty payments of $200,000. Fantasy reported revenues of $1,500,000 in 20x3 from the comic strip. In its 20x3 income statement, what amount should Super report as royalty revenue?
A. $125,000
B. $175,000
C. $200,000
D. $300,000

Super Comics Corp.は20x1でFantasy、Inc.に漫画を販売し、漫画に関連した将来の収益の20%のロイヤルティを受け取る予定です。 12月31日、20x2で、Superはファンタジーから75,000ドルのロイヤルティ債権を報告した。 20x3の間、Superは200,000ドルのロイヤルティを受け取った。ファンタジーは、漫画から20x3で$ 1,500,000の収入を報告した。その20x3の損益計算書で、Superは、ロイヤルティ収入としてどのくらいの金額を報告すべきですか?


12

Frame Co. has an 8% note receivable dated June 30, 20x1 in the original amount of $150,000. Payments of $50,000 in principal plus accrued interest are due annually on July 1, 20x2, 20x3, and 20x4. In its June 30, 20x3 balance sheet, what amount should Frame report as a current asset for interest on the note receivable?

A. $0
B. $4,000
C. $8,000
D. $12,000

フレーム・カンパニーは、6月30日20x1の元受取額が15万ドルの8%の受取手形を有しています。原則として50,000ドルと未払利息​​の支払いは、毎年7月1日、20x2,20x3、および20x4で行われます。 6月30日、20x3の貸借対照表において、未収利息の金利のために現在の資産として報告額をどの額にするべきか?


13

The calculation of the income recognized in the third year of a five-year construction contract accounted for using the percentage-of-completion method includes the ratio of
A. Total costs incurred to date to total estimated costs.
B. Total costs incurred to date to total billings to date.
C. Costs incurred in year 3 to total estimated costs.
D. Costs incurred in year 3 to total billings to date.

完了率法を用いて会計処理された5年の建設契約の第3年に認識された収益の計算には、


14

On April 1, 20x1, Hyde Corp., a newly formed company, had the following stock issued and outstanding:

・ Common stock, no par, $1 stated value, 20,000 shares originally issued for $30 per share.
・ Preferred stock, $10 par value, 6,000 shares originally issued for $50 per share.

Hyde's April 1, 20x1 statement of stockholders' equity should report
Common stock/ Preferred stock/ Additional paid-in capital
A. $20,000 $60,000 $820,000
B. $20,000 $300,000 $580,000
C. $600,000 $300,000 $0
D. $600,000 $60,000 $240,000

4月1日、20X1は、ハイド・コーポレーション、新たに形成された同社は、以下の株式は発行済持っていました:

・普通株式は、何の額面は$ 1記載された値は20,000株はもともと株あたり$ 30発行されません。
・優先株、10ドル額面、元々は1株当たり50ドルで発行された6,000株。

ハイドの4月1日、20x1の株主資本計算書は報告すべき

15

Wall Co. leased office premises to Fox, Inc. for a 5-year term beginning January 2, 20x1. Under the terms of the operating lease, rent for the first year is $8,000 and rent for years 2 through 5 is $12,500 per annum. However, as an inducement to enter the lease, Wall granted Fox the first 6 months of the lease rent-free. In its December 31, 20x1 income statement, what amount should Wall report as rental income?
A. $12,000
B. $11,600
C. $10,800
D. $8,000

Wall Co.は、20x1月1日から5年間、Fox社にオフィスビルを賃貸しました。オペレーティング・リースの条件に基づき、最初の年の賃料は8,000ドル、2年から5年の賃料は年間12,500ドルです。しかし、リース契約の誘因として、ウォールはリースフリーの最初の6ヶ月間フォックスに貸与を認めていません。 12月31日、20x1の損益計算書で、Wallレポートは賃貸収入としてどのくらいの金額を報告する必要がありますか?

16

On January 2, 20x1, Nori Mining Co. (lessee) entered into a 5-year lease for drilling equipment. Nori accounted for the acquisition as a capital lease for $240,000, which includes a $10,000 bargain purchase option. At the end of the lease, Nori expects to exercise the bargain purchase option. Nori estimates that the equipment's fair value will be $20,000 at the end of its 8-year life. Nori regularly uses straight-line depreciation on similar equipment. For the year ended December 31, 20x1, what amount should Nori recognize as depreciation expense on the leased asset?
A. $48,000
B. $46,000
C. $30,000
D. $27,500

Nori Mining Co.(借手)は、20x1年1月2日に5年間の掘削機器のリース契約を締結しました。 Noriは買収を$ 240,000のキャピタルリースとして会計処理しました。これには10,000ドルのバーゲン購入オプションが含まれています。リース終了時に、ノーリはバーゲン購入オプションを行使する予定です。 Nori氏は、機器の公正価値は8年の終わりに2万ドルになると見積もっています。ノリは、同様の設備について定額減価償却費を定期的に使用しています。ノリがリース資産の減価償却費として認識すべき金額は、20x1の12月31日に終了した年度の金額です。

17

On December 31, 20x1, Jet Co. received two $10,000 notes receivable from customers in exchange for services rendered. On both notes, interest is calculated on the outstanding principal balance at the annual rate of 3% and payable at maturity. The note from Hart Corp., made under customary trade terms, is due in 9 months and the note from Maxx, Inc. is due in 5 years. The market interest rate for similar notes on December 31, 20x1, was 8%. The compound interest factors to convert future values into present values at 8% follow:

-Present value of $1 due in 9 months: .944
-Present value of $1 due in 5 years: .680

At what amounts should these two notes receivable be reported in Jet's December 31, 20x1 balance sheet?
Hart Maxx
A. $9,440 $6,800
B. $9,652 $7,820
C. $10,000 $6,800
D. $10,000 $7,820

ジェット・カンパニーは、20x1 12月31日に、提供されたサービスと引き換えに顧客から2百万米ドルの受取債権を受領しました。両利息については、未払元本残高を年間利率3%で計算し、満期時に支払利息を計上しています。ハート・コーポレーションの慣習的な取引条件に基づく注釈書は9ヶ月で返済予定であり、マックス・インクの注釈書は5年後のものである。 20x1 12月31日の同様の債券の市場金利は8%であった。将来価値を現在価値に換算するための複合的利子率は、以下のとおりです。

9ヶ月で$ 1の現在価値:.944
5年間で$ 1の現在価値:.680

ジェットの12月31日、20x1貸借対照表において、これらの2つの受取債権をどの金額で報告すべきか?

18

According to the cost recovery method of accounting, gross profit on an installment sale is recognized in income
A. After cash collections equal to the cost of sales have been received.
B. In proportion to the cash collections.
C. On the date the final cash collection is received.
D. On the date of sale.

会計の原価回収方法によれば、割賦販売における売上総利益は、収益に認識される
A.売上原価に等しい現金回収が受領された後。
B.現金回収に比例して。
C.最終的な現金回収を受けた日。
D.販売日に。

19

Beck Corp. issued 200,000 shares of common stock when it began operations in 20x1 and issued an additional 100,000 shares in 20x2. Beck also issued preferred stock convertible to 100,000 shares of common stock. In 20x3, Beck purchased 75,000 shares of its common stock and held it in Treasury. At December 31,20x3, how many shares of Beck's common stock were outstanding?
A. 400,000
B. 325,000
C. 300,000
D. 225,000

ベック・コーポレーションは、20x1で稼動を開始した20万株の普通株式を発行し、20x2で10万株を発行した。ベックはまた普通株式10万株に転換可能な優先株式を発行した。 Beckは20x3で普通株式75,000株を購入し、財務省で保有した。 12月31日時点で、ベックの普通株式はどれくらいの数の株式が残っていましたか?

20

At December 31, 20x2 and 20x1, Gow Corp. had 100,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 20x2 or 20x1. Net income for 20x2 was $1,000,000. For 20x2, basic earnings per share amounted to
A. $10.00
B. $9.50
C. $9.00
D. $5.00

12月31日、20x2および20x1で、Gow Corp.は100,000株の普通株式と5%、100ドル額面の累積優先株式残高10,000株を保有していました。 20x2または20x1の優先株または普通株式のいずれについても配当は宣言されていません。 20x2の純利益は1,000,000ドルでした。 20x2の場合、基本的な1株当たり利益は

tag : CPA USCPA FAR

2017-03-08 22:56 : ├ FAR : コメント : 0 : トラックバック : 0 :

[FAR] Notes - FAR2 - Unit 6-1 to 12-19

FAR2 [○] Unit 6-1.
Definition and COmponents of Property, Plant, and Equipment
有形固定資産の定義と原価の構成要素

KEYWORDS:
Property, Plant, and Equipment; PP&E - BS, Asset
costs necessarily incurred
cost inclusion (BS) cf. inventory, Unit 4-1.

NOTES:
freight-in - BS
insurance costs on delivery - expense でなく BS, Asset 計上
interest costs incurred during construction cf. Unit 6-4.
撤去コスト costs of razing sctructures
必要不可欠(costs necessarily)であればBS計上OK

−−−−−−−−−−
FAR2 [△] Unit 6-2.
Lump-Sum Purchase of Property, Plant, and Equipment
有形固定資産の一括購入

KEYWORDS:
lump-sum = 一括購入

NOTES:
Fair Value で按分

−−−−−−−−−−
FAR2 [○] Unit 6-3.
Costs Incurred After Acquisition
有形固定資産の購入後に発生した支出

KEYWORDS:
capital expenditure

NOTES:
maintainance な expenditures - BS にする条件
- improves efficiency
- OR extends useful life
上記に当てはまらなけれb expense - IS
e.g. 定期点検

−−−−−−−−−−
FAR2 [◎] Unit 6-4.
Capitalization of Interest Costs
利子コストの資産計上

KEYWORDS:
qualified assets = 適格資産
specifically realted = 紐付借入金
avoidable interest = 回避可能利子 - BS

NOTES:
interest は基本費用。
例外 - qualified assets - own use (自社費用), but not inventory -> BS計上OK
e.g. 自社ビルの為の借入金の利子 -> BS, PP&Eに計上

avoidable interest - e.g. 自社ビル買わなければ払うこと無かった利子

?自社ビル建設の為の負債の利子に対して、PP&E の額に未払分の利子も入れるのか?
?変動利子だった場合、PP&E の額が都度変わる?
?その場合の減価償却は遡及してやるのか?

−−−−−−−−−−
FAR2 [○] Unit 6-5.
Basic Rules for Nonmonetary Exchange
非貨幣性資産の交換の基本ルール

KEYWORDS:
nonmonetary exchange = 物々交換

NOTES:
@資産の交換
- 新規取得資産 = 時価 FV
- 引き渡した資産 = 簿価 = BK
- 差額 = Gain/Loss - plug

e.g. 土地の売却
Dr. Cash (Proceeds) / Dr. Land (Cost), Gain/Loss (Plug)

e.g. 資産の交換
Dr. Plant = FV / Cr. Land = BV, Gain/Loss = FV - BV

−−−−−−−−−−
FAR2 [○] Unit 6-6.
Accounting Treatment for Nonmonetary Exchange
非貨幣性資産の交換における会計処理

KEYWORDS:
boot = 底上げ

NOTES:
Dr. Plant = FV / Cr. Land = BV, Gain/Loss = FV - BV
Dr. Plant = FV / Cr. Land = BV, Cash (boot) xxx, Gain/Loss = FV - BV

−−−−−−−−−−
FAR2 [◎] Unit 6-7.
Non-Recognition of Gain in Nonmonetary Exchange
一定の交換取引における、例外的に利得を認識しないケース

KEYWORDS:
promotion
no commercial substance

NOTES:
販売を促進する交換 (promotion)


商業的実体のない交換 (no commercial substance)
= 非商業なので Gain/Loss を計上できない → 受領資産をbalanceする額に評価し直す

?非商業ってどんなものがあるの?モヤってる..

−−−−−−−−−−
FAR2 [◎] Unit 6-8.
Recognition of Gain in Nonmonetary Exchange
交換取引において部分的に利得を認識するケース

NOTES:
受領する資産の一分が物品で、一部が現金の場合 = 受領資産がboot込みの場合 -> 部分的に利得認識する
boot (Cash) 比率での按分分を利得認識 → 差額分 plug で受領資産価格を加減処理

−−−−−−−−−−
FAR2 [○] Unit 6-9.
Disposition of Property, Plant, and Equipment
有形固定資産の処分

KEYWORDS:
involuntary conversion = 強制転換 - e.g. 道路整備の為の立ち退き

NOTES:
involuntary conversion -> 利得認識OK

−−−−−−−−−−
FAR2 [○] Unit 6-10.
Subsequent Measurement of Property, Plant and Equipment
有形固定資産の購入後の測定

KEYWORDS:
取得原価主義 - cf. Unit 1-12.
cost model = 原価モデル
revaluation model = 再評価モデル

NOTES:
Cost - Accumulated depreciation - accumulated impairment loss

−−−−−−−−−−
FAR2 [◎] Unit 6-11.
Definition and Types of Depreciation
減価償却の定義および種類

KEYWORDS:
depreciation
depreciation base = 償却可能価格
salvage value = residual value = 残存価格

NOTES:
depreciation = 資産を費用化(IS)するプロセス - matching
用法4つ
- ◎ 定額法
- 級数法 (加速償却)
- ◎ 2倍逓減法 (加速償却)
- 生産高比例法

−−−−−−−−−−
FAR2 [◎] Unit 6-12.
Straight-Line Method
定額法

KEYWORDS:
Straight Line Method; SLM
Userful Life = Service Life

NOTES:
SLM = 毎期均等額を計上する方法
depreciation expense (IS) = depreciation base / Service Life
depreciation base = Cost - Salvage Value
depreciation rate = 1 / Service Life

−−−−−−−−−−
FAR2 [○] Unit 6-13.
Sum-of-the-years'-Digits Method
級数法

KEYWORDS:
Sum-of-the-years'-digits method; SYD

NOTES:
depreciation = depreciation base x userfule life x (userfule life - 1) / 2x
x = 残存年数

−−−−−−−−−−
FAR2 [◎] Unit 6-14.
Double-Declining Balance Method
二倍逓減法

KEYWORDS:
double-declining balance method; DDB
depreciable cost = depreciation base

NOTES:
depreciation expense = BV x 2 / useful life
BV = cost - accumulated depreciation
→ 公式に残存価格が含まれていない
原価償却可能額 = depreciable cost = depreciation base までが限界
→ 最終年度で償却し過ぎない様にすること
depreciation base を使用していない点で他と違う

−−−−−−−−−−
FAR2 [○] Unit 6-15.
Units of Production Method
生産高比例法

KEYWORDS:
Units of Production Method; UOP method

NOTES:
depreciation expense = depreciation base x 今期使用分 / 総使用量

−−−−−−−−−−
FAR2 [△] Unit 6-16.
Asset Retirement Obligation
資産除去債務

KEYWORDS:
asset retirement obligation; ARO - Liability

−−−−−−−−−−
FAR2 [○] Unit 6-17.
Concept of Impairment
減損の概念

KEYWORDS:
Impairment

NOTES:
有形固定資産の評価下げ処理 = 減損 @著しい価値の減少
今後も使用予定の資産が対象

−−−−−−−−−−
FAR2 [◎] Unit 6-18.
Impairment for Assets That Are Intended to Be Held and Used, or to Be Disposed of
業務上の使用・保有および売却以外の方法による処分を目的として保有する資産の場合の減損

KEYWORDS:
siginificant decrease
recoverability test
undiscounted cash flows
carrying value = BV
fair value test
write-down = BSに残るが、減額される
write-off = A/RがBSから無くなる

NOTES:
処理プロセス

step 1 - 減損の兆候の有無
以下が当てはまれば、兆候あり -> step 2
siginificant decrease = BV の半分以下
significant adverse change
contimuing loss

step 2 - 減損認識 - recoverability test - recognition of impairment
該当資産が今後生み出すだろうCashflowがBVを下回る -> step 3 へ
undiscounted cash flows < carrying value (=BV)

step 3 - fair value test
BV - FV 分を減損 -> impairment loss (IS)

※ 減損の戻入はNG - cf. LCM, Inventory, Unit 4-10. (IFRSは減損も戻入OK, Unit 7-4.)

Dr. Loss on Impairment (IS, income from continuing operations, Other expenses and losses) /
Cr. Accumulated Impairment Loss (BS, contra account of Asset)

IFRSの減損は1stepのみ - 回収可能額にwrite-down

−−−−−−−−−−
FAR2 [△] Unit 6-19.
Impairment for Assets That Are to Be Sold
売却処分予定の資産の場合の減損

NOTES:
売却処分する場合
減損兆候判定はなし
step 1 - recoverability test
step 2 - fair value test

cf. Unit 2-11, 2-12.

−−−−−−−−−−
FAR2 [△] Unit 6-20.
Depletion
減耗償却

KEYWORDS:
depletion - 天然資源, natural resources
UOP method - cf. Unit 6-15.

NOTES:
減耗償却費 depletion = depletion base x 当期採掘量 / 予想採掘量

−−−−−−−−−−
FAR2 [○] Unit 7-1.
Definition and Intial Recognition of Intangible Assets
無形資産の定義と当初認識

KEYWORDS:
purchased intangible assets - FV -> BS
internally generated/created intangible assets

NOTES:
無形資産 = 権利系

外部から取得された場合 - purchased intangible assets -> FV -> BS
内部で生み出された場合 - internally generated intangible assets -> expensed (IS)

−−−−−−−−−−
FAR2 [○] Unit 7-2.
Types of Intangible Assets
無形資産の主な種類

KEYWORDS:
trademark; TM
copyright
franchise
patents

NOTES:
TM - 耐用年数なし -> 減損対象 -> amortization
patents - 有効期限は20years

−−−−−−−−−−
FAR2 [○] Unit 7-3.
Subsequent Measurement and Useful Life of Intangible Assets
無形資産の認識後の測定と耐用年数

KEYWORDS:
accumulated depreciation
accumulated impairment loss

NOTES:
Unit 6-10.
有形資産の償却 = depreciation
無形資産の償却 = amortization

−−−−−−−−−−
FAR2 [△] Unit 7-4.
Impairment for Intangible Assets with Indefinite Useful Life
耐用年数が無期限の無形資産の減損

NOTES:
TM cf. FAR4
計上した減損の戻入NG cf. Unit 6-18. -> IFRSはOK; reversing an impairment loss

−−−−−−−−−−
FAR2 [○] Unit 7-5.
Software Developed for Sale or Lease (1) Three Development Stages
販売・リース目的のソフトウェア(1) 3つの開発フェーズ

KEYWORDS:
software
technological feasibility
market feasibility

NOTES:
〇販売目的 or △自社使用目的

エンジニアの人件費が資産か費用かポイント

stage 1 - BEFORE technological feasibility -> IS, expense
stage 2 - BEFORE market feasibility -> BS, Asset
stage 3 - AFTER market feasibility -> BS, Inventory



−−−−−−−−−−
FAR2 [△] Unit 7-6.
Software Developed for Sale or Lease (2) Amortization
販売・リース目的のソフトウェア(2) 償却方法

NOTES:
金額の大きい方が年間消極額
NRV

−−−−−−−−−−
FAR2 [△] Unit 7-7.
Software Developed for Internal Use
自社利用目的のソフトウェア

−−−−−−−−−−
FAR2 [○] Unit 7-8.
Research and Development Costs (1) Concept
研究開発費(1) 概念

KEYWORDS:
Research and Development; R&D

−−−−−−−−−−
FAR2 [○] Unit 7-9.
Research and Development Costs (2) Recognition
研究開発費(2) 認識

NOTES:
R&D は expenditure が行われた時点で費用 (IS) 計上する
金になるか不明な段階では全て費用

−−−−−−−−−−
FAR2 [○] Unit 7-10.
Accounting Treatment for Costs Similar to Research and Development Costs
研究開発費に類似するコストの会計処理

KEYWORDS:
development stage entity = ベンチャー企業
start-up cost
expensed as incurred

−−−−−−−−−−
FAR2 [○] Unit 8-1.
Future Value of an Amount
1ドルあたりの将来価値

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 8-2.
Present Value of an Amount
1ドルあたりの現在価値

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 8-3.
Future Value of an Ordinary Annuity
毎期末積立の将来価値

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 8-4.
Present Value of an Ordinary Annuity
毎期末支払の現在価値

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 8-5.
Future Value of an Annuity Due or Future Value of an Annuity in Advance
毎期首積立の将来価値

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 8-6.
Present Value of an Annuity Due or Present Value of an Annuity in Advance
毎期首支払の現在価値

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 9-1.
Definition and Classification of Bonds
社債の定義と主要な分類

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 9-2.
Types of Interest Rates
利率の種類

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 9-3.
Issue Price of Bonds
社債の発行価格

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 9-4.
Accounting Treatment for Bond Issue and Presentation
社債の発行時の会計処理と表示

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 9-5.
Effective Interest Method (1) Concept
実効金利法(1) 概要

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 9-6.
Effectiove Interest Method (2) Issue at Premium
実効金利法(2) プレミア発行

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 9-7.
Effective Interest Method (3) Issue at Discount
実効金利法(3) ディスカウント発行

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 9-8.
Effective Interest Method (4) Issue Between Interest Dates
実効金利法(4) 利払い日の間で発行された場合の考え方

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 9-9.
Effective Interest Method (5) Issue Between Interest Dates
実効金利法(5) 利払い日の間で発行された場合の考え方(設例)

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 9-10.
Comparison between Issue at Premium and Issue at Discount
プレミア発行とディスカウント発行の比較

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 9-11.
Components of Bond Issue Cost
社債発行費に含まれる項目

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 9-12.
Accounting Treatment for Bond Issue Costs
社債発行費の会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 9-13.
Bond Sinking Fund (1) Concept
減債基金(1) 概要

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 9-14.
Bond Sinking Fund (2) Disclosure
減債基金(2) 開示

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 9-15.
Early Extinguishment of Debt
社債の早期償還

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 10-1.
Definition and Classification of Lease
リースの定義と分類

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 10-2.
Operating Lease (1) Recognition of Espense and Revenue at Even Payments
オペレーティング・リース(1) リース料が一定の場合の費用と収益の認識

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 10-3.
Operating Lease (2) Recognition of Expense and Revenue at Uneven Payments
オペレーティング・リース(2) リース料が一定でない場合の費用と収益の認識

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 10-4.
Operating Lease (3) Initial Direct Cost/Lease Improvements/Disclosure
オペレーティング・リース(3) 付随費用等

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 10-5.
Capital Lease (1) Definition
キャピタル・リース(1) 定義

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 10-6.
Capital Lease (2) 4 Capitalization Criteria
キャピタル・リース(2) 4つの条件

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 10-7.
Capital Lease (3) Measurement of Leased Asset
キャピタル・リース(3) リース資産の計上金額

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 10-8.
Capital Lease (4) Depreciation of Leased Assets in Capital Lease
キャピタル・リース(4) リース資産の減価償却

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 10-9.
Capital Lease (5) Accounting Treatment for Lease Payment in Capital Lease
キャピタル・リース(5) リース料支払い時の会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 10-10.
Sales-Type Lease and Direct Finance Lease
販売型リースと直接金融リース

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 10-11.
Accounting Treatment for Sales-Type Lease
販売型リースにおける会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 10-12.
Accounting Treatment for Direct Finance Lease
直接金融リースにおける会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 10-13.
Sale-Leaseback (1) Concept
セール・リースバック(1) 概念

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 10-14.
Sale-Leaseback (2) Accounting Treatment
セール・リースバック(2) 会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 11-1.
Accounting Treatment for Notes Issued Solely for Cash (1) Basic Rules
金銭貸借に手形が用いられる場合の会計処理(1) 基本ルール

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 11-2.
Accounting Treatment for Notes Issued Solely for Cash (2) Unstated Rights and Privileges
金銭貸借に手形が用いられる場合の会計処理(2) 明示されていない権利

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 11-3.
Accounting Treatment for Notes Issued in Non-Cash Exchange
金銭貸借以外の取引に手形が用いられる場合の会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 11-4.
Troubled Debt Restructuring (1) Settlement of Debt
問題債務の再構築(1) 有利子負債の決済

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 11-5.
Troubled Debt Restructuring (2) Modification of Terms-Debtor
問題債務の再構築(2) 返済条件の修正-債務者

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 11-6.
Troubled Debt Restructuring (3) Modification of Terms-Creditor
問題債務の再構築(3) 返済条件の修正-債権者

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 12-1.
Revenue Recognition (1) Basic Rule
収益認識(1) 原則

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 12-2.
Revenue Recognition (2) Exceptional Cases
収益認識(2) 例外的処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 12-3.
Sale with Right of Return (1) Concept
返品条件付販売(1) 概要

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 12-4.
Sale with Right of Return (2) Revenue Recognition
返品条件付販売(2) 収益認識

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 12-5.
Percentage-of-completion Method (1) Definition
工事進行基準(1) 定義

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 12-6.
Percentage-of completion Method (2) Calculation of Percentage Completed and Revenue
工事進行基準(2) 進捗度及び収益の計算方法

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 12-7.
Percentage-of-completion Method (3) Presentation
工事進行基準(3) 表示

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 12-8.
Completed-contract Method (1) Definition
工事完成基準(1) 定義

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 12-9.
Completed-contract Method (2) Accounting Treatment and Presentation
工事完成基準(2) 会計処理及び表示

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 12-10.
Recognition of Loss from Long-term COnstruction COntracts
長期工事契約損失の認識

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 12-11.
Installment Sales (1) Two Methods in Accounting Treatment
割賦販売(1) 2つの会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [◎] Unit 12-12.
Installment Sales (2) Installment Sales Method
割賦販売(2) 割賦基準

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 12-13.
Installment Sales (3 Presentation
割賦販売(3) 表示

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 12-14.
Installment Sales (4) Cost Recovery Method
割賦販売(4) 原価回収基準

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 12-15.
Franchise (1) Definition
フランチャイズ(1) 定義

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [△] Unit 12-16.
Franchise (2) Revenue Recognition
フランチャイズ(2) 収益認識

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 12-17.
Consignment (1) Concept
委託販売(1) 概要

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 12-18.
Consignment (2) Reveue Recognition
委託販売(2) 収益認識

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−
FAR2 [○] Unit 12-19.
Consignment (3) Accounting Treatment for Transportation Fee
委託販売(3) 商品移動の運賃の会計処理

KEYWORDS:
★★★kevwords★★★

NOTES:
★★★notes★★★

★★★n/a★★★

−−−−−−−−−−

tag : CPA USCPA FAR2

2017-03-05 16:07 : ├ FAR : コメント : 0 : トラックバック : 0 :

[FAR] まとめ

https://drive.google.com/drive/folders/0B6u7mCyS4OW6dldhWXY5WVE3NXM?usp=sharing


FAR4 > BS > Dr > A Securities
債券:Debt
満期あり、金利あり
20% Less
FV
20-50%
方法:Equity Method
Significant Influence
50% Over
Consolidation
Control
株:Equity
満期ナシ、金利ナシ
AFS: Available For Sale
BS > SE > AOCI
減損あり
TS: Trading Securities
減損ナシ
held to maturity

tag : CPA FAR4 BS IS CS FAR USCPA

2017-01-10 02:38 : ├ FAR : コメント : 0 : トラックバック : 0 :

[FAR] quiz #2/2

1
Kale Co. purchased bonds at a discount on the open market as an investment and intends to hold these bonds to maturity. Kale should account for these bonds at
A. Cost.
B. Amortized cost.
C. Fair value.
D. Lower of cost or market.

→ D TBC
bonds, as an investment, to maturity

2
On April 1, 20x1, Saxe, Inc. purchased $200,000 face value, 9% US Treasury notes for $198,500, including accrued interest of $4,500. The notes mature July 1, 20x2, and pay interest semiannually on January 1 and July 1. Saxe uses the straight-line method of amortization and intends to hold the notes to maturity. In its October 31, 20x1 balance sheet, the carrying amount of this investment should be
A. $194,000
B. $196,800
C. $197,200
D. $199,000

→ TBC
US Treasury notes, pay interest semiannually, straight-line method

3
Under FASB Statement of Financial Accounting Concepts 5, which of the following items would cause earnings to differ from comprehensive income for an enterprise in an industry not having specialized accounting principles?
A. Unrealized loss on investments classified as available-for-sale securities.
B. Unrealized loss on investments classified as trading securities.
C. Loss on exchange of similar assets.
D. Loss on exchange of dissimilar assets.

4
Which of the following falls into a notional amount?
A. Number of barrels of oil.
B. Interest swaps.
C. Security prices.
D. Credit rating.

5
Which of the following criteria must be met for a hedging instrument?
A. Sufficient documentation must be provided at the beginning of the process.
B. Must contain a nonperformance clause that makes the counterparty execute an agreement.
C. Must contain one or more underlyings and notional amounts.
D. Must be "highly effective" only at inception of the hedge.

6
Justification for the method of determining periodic deferred tax expense is based on the concept of
A. Matching of periodic expense to periodic revenue.
B. Objectivity in the calculation of periodic expense.
C. Recognition of assets and liabilities.
D. Consistency of tax expense measurements with actual tax planning strategies.

7
The primary purpose of a statement of cash flows is to provide relevant information about
A. Differences between net income and associated cash receipts and disbursements.
B. An enterprise's ability to generate future positive net cash flows.
C. The cash receipts and cash disbursements of an enterprise during a period.
D. An enterprise's ability to meet cash operating needs.

8
King Corp. owns 100% of Lee Corp.'s common stock. During October 20x1, Lee sold merchandise to King for $100,000. At December 31, 20x1, one half of the merchandise remained in King's inventory. For 20x1, gross profit percentages were 30% for King and 40% for Lee.
The amount of unrealized intercompany profit in ending inventory at December 31, 20x1 that should be eliminated in consolidation is
A. $40,000
B. $20,000
C. $16,000
D. $15,000

9
On January 1, 20x1, Flax Co. purchased a machine for $528,000 and depreciated it by the straight-line method using an estimated useful life of 8 years with no salvage value. On January 1, 20x4, Flax determined that the machine had a useful life of 6 years from the date of acquisition and will have a salvage value of $48,000. An accounting change was made in 20x4 to reflect these additional data. The accumulated depreciation for this machine should have a balance at December 31, 20x4 of
A. $292,000
B. $308,000
C. $320,000
D. $352,000

10
Oak Co. offers a 3-year warranty on its products. Oak previously estimated warranty costs to be 2% of sales. Due to a technological advance in production at the beginning of 20x3, Oak now believes 1% of sales to be a better estimate of warranty costs. Warranty costs of $80,000 and $96,000 were reported in 20x1 and 20x2, respectively. Sales for 20x3 were $5,000,000. What amount should be disclosed in Oak's 20x3 financial statements as warranty expense?
A. $50,000
B. $88,000
C. $100,000
D. $138,000

11
Personal financial statements usually consist of
A. A statement of net worth and a statement of changes in net worth.
B. A statement of net worth, an income statement, and a statement of changes in net worth.
C. A statement of financial condition and a statement of changes in net worth.
D. A statement of financial condition, a statement of changes in net worth, and a statement of cash flows.

12
ASC 270, Interim Reporting, concluded that interim financial reporting should be viewed primarily in which of the following ways?
A. As useful only if activity is spread evenly throughout the year.
B. As if the interim period were an annual accounting period.
C. As reporting for an integral part of an annual period.
D. As reporting under a comprehensive basis of accounting other than GAAP.

13
For the year ended December 31, 20x1, the general fund of Meckleston Village reported revenues from the following sources on the statement of revenues, expenditures, and changes in fund balances:

Sales taxes $ 35,000
Property taxes 145,000
Liquor licenses 25,000
Fines 10,000

In accordance with GASB 33, Accounting and Financial Reporting for Nonexchange Transactions, what is the amount of revenues that came from imposed nonexchange transactions?
A. $215,000
B. $180,000
C. $170,000
D. $155,000

14
Which of the following accounts of a governmental unit is credited when taxpayers are billed for property taxes?
A. Appropriations.
B. Taxes receivable-current.
C. Estimated revenues.
D. Revenues.

15
In November 20x1, Maple Township received an unexpected state grant of $100,000 to finance the purchase of school buses, and an additional grant of $5,000 was received for bus maintenance and operations. According to the terms of the grant, the State reimbursed Maple Township for $60,000 for the purchase of school buses and an additional $5,000 for bus maintenance during the year ended June 30, 20x2. The remaining $40,000 of the capital grant is expected to be expended during the year ending June 30, 20x3. Maple's school bus system is appropriately accounted for in the special revenue fund. In connection with the grants for the purchase of school buses and bus maintenance, what amount should be reported as grant revenues for the year ending June 30, 20x2, when using modified accrual accounting?
A. $5,000
B. $60,000
C. $65,000
D. $100,000

16
Elm City issued a purchase order for supplies with an estimated cost of $5,000. When the supplies were received, the accompanying invoice indicated an actual price of $4,950. What amount should Elm debit (credit) to Budgetary Fund Balance--Reserved for Encumbrances after the supplies and invoice were received?
A. $(50)
B. $50
C. $4,950
D. $5,000

17
Dale City is accumulating financial resources that are legally restricted to payments of general long-term debt principal and interest maturing in future years. At December 31, 20x1, $5,000,000 has been accumulated for principal payments and $300,000 has been accumulated for interest payments. These restricted funds should be accounted for in the

Debt service fund General fund
A. $0 $5,300,000
B. $300,000 $5,000,000
C. $5,000,000 $300,000
D. $5,300,000 $0

18
Which of the following transactions is an expenditure of a governmental unit's general fund?
A. Contribution of enterprise fund capital by the general fund.
B. Transfer from the general fund to a capital projects fund.
C. Operating subsidy transfer from the general fund to an enterprise fund.
D. Routine employer contributions from the general fund to a pension trust fund.

19
Reed College, a private not-for-profit college, received the following contributions during 20x1:

I. $3,000,000 from alumni for construction of a new wing on the science building to be constructed in 20x2.
II. $1,500,000 from a donor who stipulated that the contribution be invested indefinitely and that the earnings be used for scholarships. As of December 31, 20x1, earnings from investments amounted to $60,000.

For the year ended December 31, 20x1, what amount of these contributions should be reported as temporarily restricted revenues on the statement of activities?
A. $60,000
B. $3,060,000
C. $3,000,000
D. $4,560,000

20
Foster Hospital, a nonprofit hospital affiliated with a private university, provided $100,000 of charity care for patients during the year ended December 31, 20x1. The hospital should report this charity care
A. As accounts receivable of $100,000 on the balance sheet at December 31, 20x1.
B. As net patient service revenue of $100,000 on the statement of operations.
C. As net patient service revenue of $100,000 and as an operating expense of $100,000 on the statement of operations.
D. Only in the notes to the financial statements for 20x1.

tag : CPA USCPA FAR

2017-01-04 09:33 : ├ FAR : コメント : 0 : トラックバック : 0 :
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