实用的会计英语（2012年注册会计师英语）(3)

Initial measurement 初始计量

? ?

At cost.

That is all necessary costs involved in bringing the asset into working condition. （达到固定资产预定可使用状态前所发生的一切合理必要的支出）

Purchase price (less trade discount , not cash discount) Add:

Import duties and non-refundable purchase taxes Directly attributable costs: ? Site preparation cost

? Initial delivery and handling costs ? Installation costs

? Testing costs whether the asset is functioning properly; ? Professional fees

? Borrowing costs (Refer to IAS23)

? Present value of future clean-up costs if the entity has an obligation to incur such costs

(Refer to IAS37 Provision, contingent assets and liabilities) 存在弃置费用的固定资产 Excluding:

? Administration and general overheads ? Abnormal costs

? Costs incurred after the asset is physically ready for use Exchanges of assets 资产交换

IAS 16 specifies that exchange of items of PPE regardless of whether the assets are similar, are measured at fair value, unless the exchange transaction lacks commercial substance （商业实质） or the fair value of neither of the assets exchanged can be measured reliably. If the acquired item is not measured at fair value, its cost is measured at the carrying amount of the asset given up. Subsequent expenditure 后续支出 ?

Capital expenditure (资本化支出)--Subsequent expenditure on property, plant and equipment should only be capitalized if it improves performance e.g. faster production or higher quality output. ?

Revenue expenditure（费用化支出）--All other expenditure incurred to maintain the economic benefits originally expected should be expensed in Income Statement.

/ 57 11

Depreciation methods Straight line: Annual Depreciation = (Cost-residual value残值)/useful life Reducing balance Annual Depreciation = Net book value opening balance* depreciation rate% Sum of Digits Annual Depreciation =(cost-residual value)*depreciation rate% Machine hours Depreciation per machine hour = (Cost-residual value)/total machine hours Dr: Depreciation expense Cr: Accumulated depreciation Disposal of PPE 固定资产的处置

Profit or loss on disposal = Net proceeds – Carrying Value of the asset Recognized as income or expense in I/S

The useful lives of assets or depreciation method should be reviewed at least at each financial year-end and change of useful life or method is a change in accounting estimate not a change in accounting policy.

Illustration：

Louisville Farms paid $432,000 cash for a prize-winning stallion on January 1, 2002. The stallion is depreciated on a straight-line basis. Estimated useful life was nine years, with no residual value. After owning the animal for six years and five months, Louisville Farms sold the stallion on May 31, 2008, for cash of $85,000. Depreciation had last been recorded on December 31, 2007. Required：

a) Compute the book value of the stallion at May 31, 2008, the date of sale. b) Compute the gain or loss on the sale of the stallion. Answer：

a) Book value of the stallion at May 31, 2008

Original cost ................................................................ Depreciation for 6 years (year 1 through year 6)

($432,000 ? 9) x 6 years ................................................

$432,000

$288,000

/ 57 12

Depreciation for 5 months in year 7

[($432,000 cost ? 9 years) x 5/12] .................................. $ 20,000

Accumulated depreciation to May 31, 2008 ......................

Book value of stallion at May 31, 2008 ...................

(308,000) $ 124,000

b) Loss on sale of the stallion:

Sales price $85,000 - $124,000 book value.......................

$ 39,000 loss

Intangible Assets

Research and development costs Research Expense as incurred

Development Capitalized as intangible assets if all following criteria have been met: technical feasibility to complete. intention to complete.

generate probable future economic benefits

availability of adequate technical, financial and other resources to complete.

ability to measure reliably the expenditure attributable to the intangible asset during its development.

The cost of an internally generated intangible asset is the sum of the expenditure incurred from the date when the intangible asset first meets the recognition criteria. The earlier expenditure which have been expensed should not be retrospectively recognized at a later date as part of the cost of an intangible asset.

内部开发无形资产的成本仅包括在满足资本化条件的时点之后的支出。对于之前已经费用化计入当期损益的支出不在进行调整。 Measurement after initial recognition Cost model (more commonly used in practice), the accounting treatment is that intangible assets should be carried at cost less amortization and any impairment losses.

An entity must assess whether the useful life of an intangible asset is finite or indefinite. With a finite useful life 使用寿命有限

? ?

Amortization 摊销

Normally the straight-line method with a zero residual value should be used. 直线法摊销，残值为零 Not amortized.

/ 57 13

With a indefinite useful ?

life

使用寿命不确定

? Instead an impairment review must be carried out at least annually.

Investment Property

Investment property is defined by IAS 40 as land or a building held to earn rentals or for capital appreciation or both, rather than for use or for sale in the ordinary course of business. 投资性房地产持有的目的是为了赚取租金或资本增值。 Accounting treatment ? ?

Investment properties sho …… 此处隐藏：5809字，全部文档内容请下载后查看。喜欢就下载吧 ……