实用的会计英语（2012年注册会计师英语）(7)

20X4, but on that date there were outstanding options to purchase 920,000 ordinary $1 shares at $1.70 per share. The average fair value for year of ordinary shares was $1.80. Net profit for the year is $2,208,000 and the outstanding ordinary shares is 8,280,000. Calculate diluted EPS Solution: Full price element = 920,000 x 1.7 / 1.8 = 869,000（以千为单位保留两位小数） Free element = 920,000 – 869,000 = 51,000 DEPS = 2,208,000 / (8,280,000 + 51,000) = 26.5c

Practice question 7:

At the beginning of the year, Lewis Corporation had 100,000 shares of common stock outstanding. During the year, the following transactions occurred. Date Transaction

April 1 Issued 10,000 shares in exchange for land July 1 Declared and distributed a 10% stock dividend October 1 Purchased 5,000 shares of treasury stock

The number of shares that Lewis should use when computing earnings per share at the end of the year is a. 117,000. b. 116,000. c. 111,750. d. 106,250.

Answer :a {(100,000×12/12+10,000×9/12)×1.1-5,000×3/12}

Leasing

Lessee 承租人 Lessor 出租人

Fiancé lease （capital lease） 融资租赁 Operation lease 经营租赁 Classification of Leases A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Whether a lease is a finance lease or an operating lease depends on the substance of the transaction rather than the

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form. ?

the lease transfers ownership of the asset to the lessee by the end of the lease term; 所有权转移

the lessee has the option to purchase the asset at a price which is expected to be sufficiently lower than the fair value at the date the option becomes exercisable, and at the inception of the lease, it is reasonably certain that the option will be exercised; 廉价购买权

the lease term is for the major part (75%) of the economic life of the asset, even if title is not transferred; 租赁期占租赁资产使用寿命的大部分

at the inception of the lease, the present value of the minimum lease payments amounts to at least 90% of all of the fair value of the leased asset; 租赁开始日承租人最低租赁付款额的现值几乎相当于租赁资产公允价值 ?

the lease assets are of a specialized nature such that only the lessee can use them without major modifications being made.租赁资产性质特殊

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?

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Accounting by Lessee The following principles should be applied in the financial statements of lessees. Operating leases

The lease payments should be recognized as an expense in the income statement over the lease term on a straight-line basis, unless another systematic basis is more representative of the time pattern of the user's benefit. 直线法确认租赁费用

Where the lessee is offered an incentive such as a rent-free period or cash-back incentive, this will be spread over the period of the operating lease in accordance with the accruals principle. For example: the first year rent-free, the 2nd, 3rd, 4th year rental payment $20,000. The rental charge is $20,000×3/4=$15,000. Finance leases ?

at commencement of the lease term, finance leases should be recorded as an asset and a

liability at the lower of the fair value of the asset and the present value of the minimum lease payments (discounted at the interest rate implicit in the lease租赁内含利率).

中国会计处理原则：在租赁期开始日，承租人应当将租赁开始日租赁资产公允价值与最低租赁付款额现值两者中较低者作为租入资产的入账价值，将最低租赁付款额作为长期应付款的入账价值，其差额作为未确认融资费用。 ?

the depreciation policy for assets held under finance leases should be consistent with that for owned assets. If there is no reasonable certainty that the lessee will obtain ownership at the end of the lease - the asset should be depreciated over the shorter of the lease term or the life of the asset; 在租赁期和租赁资产使用寿命两者中较短者作为折旧期间 ?

finance lease payments should be apportioned between the finance charge and a repayment of part of the capital cost of the asset. ( pay in advance and pay in arrears)

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Step 1

Capitalize using lower of PV minimum lease payments and fair value Dr Leased equipment under finance lease

Cr Finance lease obligation Step 2

Depreciate over shorter of lease term and useful economic life Dr Depreciation expense-finance lease Cr Accumulated depreciation-finance lease Step 3 Calculate interest charges and outstanding liability

Finance leases treated as an operating lease: Finance lease:

Operating lease: No asset No liability Full rental charge No depreciation

Assets capitalized Liability recognized Finance charge

Depreciation charge

If a finance lease asset is incorrectly treated as an operating lease it will have the following effects on the F/S: ? ? ?

Assets understated and so ROCE （资本回报率）overstated Liabilities understated and so gearing understated Little effect on I/S

Sale and leaseback

There are two key questions to ask when assessing the substance of these transactions: ? ?

Is the new lease a finance lease or an operating lease?

If the new lease is an operating lease, was the original sale at Fair Value or not?

Generally speaking ?

If the leaseback is a finance lease then the deal is recognized as a secured loan rather than a sale.

If the leaseback is an operating lease then there has been a genuine sale which will be

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?

recognized in the income statement. Accounting treatment

Sale and leaseback under finance lease ( IAS17) ?

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