56587721 international accounting 1(fix)
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CHAPTER 1 : OVERVIEW OF FINANCIAL ACCOUNTING
1. Lch s hnh thnh v pht trin ca Hi ng Chun mc K ton Quc t 1/4/2001, Hi ng Chun mc K ton Quc t ( International Accounting Standards Board IASB ) c thnh
lp.
IASB includes a variety of backgrounds with a mix of auditors, preparers of financial statements, users offinancial statements and an academic.
The IASBs predecessor body, the IASC, had found in 1973 and issued 41International Accounting Standards (IASs ) ==>Tin thn ca IASB l y ban Chun mc K ton quc t ( IASC ) thnh lp nm 1973 thng qua 1 tha thun bi
cc t chc ngh nghip.41 IASs c rt nhiu version khc nhau.
Later, the IASB adopted all of these standards and issues its own International Financial Reporting Standards (IFRSs ).
2. S khc bit gia IASv IFRS
IAS ( Chun mc K ton quc t ) cp n
k thut hch ton, quy trnh x l cng vic
IFRS ( Chun mc BCTC quc t ) tp trung vo ngi s dng thng tin, bi
cnh gii ca K ton l thng tin c ch cho ngi s dng. H khng
quan tm n k thut hch ton, min l n lm theo ng nguyn tc, chun
mc l c.
3. S lc v Chun mc K ton Anh - M - Vit Nam
Anh, EU p dng IAS/ IFRS.
M s dng US GAAP ( General Accepted Accounting Principles Cc nguyn tc K ton c p dng rng ri ).As many US and foreign companies operate and raise capital in more than one country, US GAAP is moving toward
Global Accounting Standards.
Vit Nam bn cnh vic ban hnh VAS, MOF cn ban hnh cc ngh nh, thng t hng dn ( circular, decree )c xem nh l Vietnamse GAAP. Cc cng ty K ton, Kim ton a s p dng cc ngh nh, thng t hng
dn, ch khng cn n chun mc. Ch c nhng cng ty ln, to mm, c ci vi B Ti chnh p dng Chun
mc hay Ngh nh/ Thng t c li cho khch hng ca n.
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4. Framework ( Khun mu l thuyt )
Khun mu l thuyt a ra cc hng dn lin quan n BCTC nhm p ng nhu cu thng tin chungca mi itng s dng ( khng th c cc thng tin phc v cho nhu cu ring ca tng i tng ). BC TC theo mc ch c
th nh bng co bch, bo co theo mc ch thu nm ngoi phm vi hng dn ca Framework.
Framework l nn tng ca cc Chun mc K ton. Framework xy dng nhng gi nh ( Assumption ), t nhng ginh ny th IAS/ IFRS mi ng. Trong nhng tnh hung m Chun mc K ton khng cp, ta phi quay v xem
xt Framework.
5. Mc tiu ca BCTC
BCTCc lp vi cc mc tiu ch yu l cung cp thng tin v:
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6. So snh BCTC ca nc ngoi & Vit Nam
Bng Cn i k ton Vit Nam Bng Cn i k ton nc ngoi
- Trnh by theo tnh thanh khon gimdn (Liquidity descending)
- Optional
- Distinguish Current Assets & Non Current Assets.
- C th phn bit r rng gia ti sn ngn hnv ti sn di hn hoc trnh by trn li theo
1 trt t nht nh ( tnh thanh khon tng
hoc gim ). Nu khng phn bit c ngnhn & di hn th phi thuyt minh trn
BCTC.
- Ti khon mang s hiu c nh. - S hiu ti khon ty thuc vo nhu cu qunl ca DN.
- Bo co mang tnh mu biu thngnht.
- Bo co khng mang tnh mu biu thngnht.
Ch : Cc ti sn ti chnh sometimes khng phn bit c ngn hn &di hn.
V d: Khi ngn hng cho vay 3 nm th y l Long term asset. Nhng 3 thng sau khch hng tr n hoc ngn hng bn n
cho factoring comoanies th y l Short term asset.
Goodwill ( Li th thng mi ) ca cng ty khc khi hp nht xut hin Statement of Financial Position ca cng tymnh.
Tnh hnh ti chnh
Ngun lc m n vkim sot
C cu ti chnh
Kh nng thanh khon
Kh nng thch ng
==> Statement of Financial Position
Kt qu hot ng
ca n v
Kh nng sinh lica doanh
nghip==> Statement of ComprehensiveIncome
S thay i tnh
hnh ti chnh
Cc hot ng kinhdoanh, u t, tichnh.
Kh nng to ra tin vcc khon tng ngtin
==> Cash FlowStatement
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Bo co kt qu kinh doanh
Vit NamProfit and Loss Accounts ( phn loi chi ph theo chc nng )
1. Doanh thu bn hng v cung cp dch v2. Cc khon gim tr doanh thu3. Doanh thu thun v bn hng v cung cp
dch v
4. Gi vn hng bn5. Li nhun gp6. Doanh thu hot ng ti chnh7. Chi ph ti chnh
-Trong : Chi ph li vay
8.Chi ph bn hng
9. Chi ph qun l doanh nghip
10.Li nhun thun t HKD
11. Thu nhp khc12. Chi ph khc
13. Li nhun khc
14. Tng li nhun k ton
trc thu
15. Chi ph thu TNDN hin hnh
16. Chi ph thu TNDN hon li
17. Li nhun sau thu TNDN
18. Li c bn trn c phiu
Comprehensive Income (C. I ) Sales Revenue Cost of Goods Sold Gross Profit ( Margin ) Total Operating Expenses
General & Administrative Expenses Selling Expenses .........
O perating Income = Gross Profit Total OperatingExpenses
Income from financial activities Expense for financial activities Extraordinary income Extraordinary expense Earning before tax Income tax expense Income From Continuing Operations Loss ( Gain ) on Discontinued Operations Net Income
OtherComprehensive Income (O.C.I ) TotalComprehensive Income (T.C.I )
Earnings Per Share
7. Characteristics of accounting informationCc c im cht lng l cc thuc tnh cn thit c thng tin hu ch trnh by trn BCTC. Framework a ra 4 c im
cht lng ch yu, l tnh ng tin cy, tnh thch hp, tnh c th hiu c v tnh c th so snh c.
7.1. Tnh ng tin cy ( Reliablity )Thng tin t cht lng ng tin cy khi chng khng c cc sai st hay thin lch trng yu v c trnh by trung thc.
t cht lng ng tin cy, thng tin cn :
Represent faithfully the results and f inancial position ofthe entity
( Trnh by trung thc kt qu, tnh hnh ti chnh ca n v
)
Susbstance over form ( Tn trng ni dung hnhnh thc )
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Pudence (Thn trng ) L vic cn nhc trong cc iu kin khng chc
chn.
Nguyn tc thn trng khng cho php nh gicao ( overstate ) ti sn v thu nhp hay nh gi
thp ( understate ) n phi tr v chi ph.
Neutrality ( Khch quan ) Thng tin trn BCTC phi khch quan, khng
b xuyn tc.
Thng tin khng c trnh by nhm tc 1 kt qu c xc nh trc.
Not have material errors( Khng c sai lch trng yu, tc l c th vn cn c
nhng sai lch khng trng yu ).
Completeness in all material respects ( y trn nhng kha cnh trng yu )
Ch : Vic tn trng ni dung hn hnh thc ( Susbstance over form ) ngha l cc nghip v hay s kin phi c tnh ton
v trnh by theo ni dung v tnh cht kinh t ch khng phi n thun theo hnh thc php l. Ni dung v hnh thc php l
khng phi lc no cng nht qun.
V d:Nghip v thu ti chnh ( Financial Leasing )
ghi nhn nghip v thu ti chnh th phi tha mn 1 trong 3 iu kin sau:
Hin gi cc khon tin thu ln hn hoc bng gi tr th trng hoc gi tr hp l ca ti sn cho thu. Khi chm dt hp ng, bn cho thu chuyn quyn s hu cho bn i thu vi gi thp hn nhiu ( much lower ) so
vi gi tr trng lc .
Thi gian thu ( leasing term ) chim trn 2/ 3 thi gian s dng hu ch ( useful line ). V mt hnh thc ( legal ), ti sn cho thu ti chnh thuc quyn s hu ca ngn hng ( ngn hng gi giy t ). V mt bn cht th y l Purchase with loan nn DN ghi nhn y l ti sn ca mnh trn Bng Cn i k ton
v tnh khu hao bnh thng.
Ti sao DNkhng i vay ngn hng mua ti sn?L do l ngn hng mun nm ng chui.
Nu ngn hng cho DN vay tin mua ti sn gi tr ln trong thi gian di, th quyn s hu ti sn thuc v DN, ngn hng
khng chc chn s thu c vn. Cn nu ngn hng mua ti sn v, nm gi quyn s hu ti sn ri cho DN thu li th
quyn s hu ti sn thuc v ngn hng. Do xt v bn cht, y cng ch l hot ng mua sm ti sn ca DN bng ngun
vn vay. Khi ri ro v li ch ca ti sn thuc v DN nn n v ghi nhn y l ti sn ca mnh
7.2. Tnh thch hp ( Relevance ) Thng tin cn phi thch hp i vi nhu cu ra quyt nh ca ngi s dng. Thng tin thch hp khi chng nh
hng n cc quyt nh ca ngi s dng, gip h nh gi cc s kin qu kh, hin ti v tng lai hoc xc
nh hay iu chnh cc nh gi qu kh ca h.
Tch thch hp ca thng tin c nh gi trn 2 kha cnh:Timeliness ( ng lc ) &Materiality ( Trng yu )
7.3. Tnh c th hiu c ( Understanability )
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Thng tin cung cp trn BCTC phi c th hiu c. Ngi lp BCTC gi nh rng ngi s dng c 1 kin thcnht nh v kinh doanh, cc hot ng kinh t v k ton.
Tuy nhin, cc thng tin phc tp, qu kh hiu i vi ngi s dng nhng thch hp i vi nhu cu ra quyt nhkinh t ca h phi c trnh by trn BCTC.
7.4. Tnh c th so snh c ( Comparability )Ngi s dng BCTC phi c th so snh cc BCTC ca :
Mt n v trong mt khong thi gian nhm xc nh xu hng v tnh hnh ti chnh v kt qu hot ng. Cc n v khc nhau nhm nh gi tnh hnh ti chnh, kt qu hot ng v s thay i tnh hnh ti chnh ca cc
bn.
Ch : Vic p dng Nguyn tc nht qun ( Consistency ) gia k ny ( current period ) & k trc ( prior period )
nhm to ra 1 thng tin c th so snh c gia k ny v k trc.
IAS/ IFRS quy nh D N thay i chnh sch k ton ( accounting pilicy ) khi There is a significant change in thenature of the operations or a review of the financial statements presentation indicates a more appropriate presentation.
Khi thay i chnh sch k ton, DN phi declare ( tuyn b cng khai ) & nh gi trongThuyt minh BCTC s thay iny lm li nhun nm nay b nh hng nh th no.
Bi tp:Nhng trng hp sau ang p dng nhng gi nh, nguyn tc no ?
1. Revenue is recognized only after certain criteria are satisfied.2. Cause and effect relationship between revenue and expense.3. The basis for measurement of many assets and liabilities.4. All economic events can be identified with a particular entity.5. The benefits of providing accounting information should exceed the cost of doing so.6. Assumes the entity will continue indefinitely.7. A common denominator is the dollar.8. The life of an enterprise can be divided into artificial time periods.
PN
1. Realization concept ( Nguyn tc ghi nhn doanh thu ): The earnings process is judged to be complete or virtually complete. There is reasonable certainly as to the collectibility of the asset to be received.
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2. Matching principle : expenses are recorded in the same period in which the revenues they helped produce are recorded (Chi ph phi ph hp vi doanh thu, chi ph do doanh thu quyt nh ).
3. C s o lng gi tr ti sn & n phi tr: Historical principle. Nguyn tc gi gc c lp trn gi nh hot nglin tc ( n v mua ti sn v sn xut, kinh doanh, khng phi bn nn h s dng gi gc, khng quan tm n
gi tr trng ).
4. Assumption Entity Concept - n v kinh doanh phi c lp ( seperate ) vi ch s hu ca n . Tc l k toncung cp cc thng tin v ti sn, n phi tr ca entity, ch khng cng b cc thng tin v ch s hu DN.
5. Materiality principle ( ch cung cp nhng thng tin m li ch ca vic cung cp nhng thng tin ny phi ln hn chiph ca vic lm ny ).
6. Going concern assumption ( Hot ng lin tc ) ==> gi nh thc th, php nhn s tip tc hot ng trong khongthi gian v hn nh.
7. Money measurement concept : accounts will only deal with those items to which a monetary value can be attributed ==> ghi chp, o lng, theo di gi tr bng tin.
8. Accounting period assumption ( Gi nh k k ton ). Nu DN hot ng lin tc, gi nh c th chia ra nhiu k bo co lp BCTC, xem xt hiu qu hot ng
kinh doanh.
Nu my thng na DN sp ng ca, ph sn th phi trnh by thc trng hin ti ca cng ty theo gi thtrng.
Ch v nguyn tc ph hp:Chi ph phi ph hp vi doanh thu, ch khng phi doanh thu ph hp vi chi ph. Xt v d sau: nm 2010 DN thc hin chin dch qung co, khuyn mi nhm gia tng sc tiu th thnh phm,
nhng n nm 2011 th cng ty mi bn c hng. Trong trng hp ny th chi ph qung co, khuyn mi vn
c ghi nhn vo chi ph bn hng nm 2010. V y l chi ph thi k ( periodic cost ). DN hi sinh s ph hp
gia doanh thu v chi ph nhm mc ch g ?
8.Cc yu t ca Bo co ti chnh
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.1. Definition of cc yu t BCTC Ti sn l ngu n lc do n v ki m sot, l k t qu ca s kin qu kh v n v d tnh thu c li ch kinh t trong
tng lai t ti sn.
N phi tr l ngha v hin ti ca n v, pht sinh t cc s kin qu kh, v n v s phi s dng cc ngun lc thanh ton cho cc khon n ny.
Vn ch s hu l phn gi tr cn li trong ti sn ca n v sau khi tr i tt c cc khon n phi tr. Thu nhp l s gia tng li ch kinh t trong k k ton di hnh thc tng ti sn hoc gim n phi tr lm tng vn ch
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Businesstransactions SourceDocuments Accountant
Books of
prime entry( Journal )
s hu, nhng khng bao gm cc khon ng gp ca ngi tham gia gp vn.
Chi ph l s st gim li ch kinh t trong k k ton di hnh thc gim ti sn hoc tng n phi tr lm gim vn chs hu, nhng khng bao gm cc khon phn phi vn ca ngi tham gia gp vn.
8.2. Recognition of cc yu t BCTC
Ghi nhn l 1 tin trnh a vo BCTC 1 khon mc tha mn nh ngha v iu kin ghi nhn c xc lp. Mt khon mc p ng nh ngha ca 1 yu t BCTC ( ti sn, n phi tr, vn ch s hu, thu nhp hay chi ph )
cn c ghi nhn nu tha mn ng thi cc iu kin sau:
Kh nng chc chn v cc khon li ch kinh t lin quan n khon mc s thu c hay s dng bi n v. Khon mc c gi gc hay gi tr c th xc nh ng tin cy.
Ch :
Trong nhiu trng hp, gi gc hay gi tr ca mt khon mc cn phi c tnh. Vic s dng cc c tnh hp l lphn thit yu ca tin trnh lp BCTC v khng lm gim tnh ng tin cy ca BCTC.
Mt khon mc khng p ng c iu kin ghi nhn ti 1 thi im c th ny li c th tiu chun ghi nhn ti1 thi im sau .
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.3. Measurements of cc yu t BCTC
o lng l vic xc nh gi tr tin t m 1 yu t c ghi nhn trn BCTC. Initial Value (Ghi nhn ban u) ==>Ti sn c ghi nhn theo s tin / cc khon tng ng tin tr, hoc gi
tr hp l c xem xt c ti sn ti thi im ghi nhn ( Historical cost ).Ch : ch c Irrecoverable Tax mi
c cng vo gi gc, cn Recoverable Tax th khng c tnh vo gi ph lch s.
Subsequent Value ( Sau ghi nhn ban u ) Cc c s o lng c s dng bao gm:
Gi gc Gi tr hin ti Gi tr c th thc hin Hin gi
8.4. Presentation / Classification / Disclosure
9. The Accounting Process ( Quy trnh k ton ) Invoice, Receipt
Potation/ Listed price ( giy bo gi ) Order Sales Order : khch hng lp
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Books of prime entry ( Journal )
- General Journal- Specific Journal
Total & Record
General Ledger
( NominalL
edger- T
account )
Balancing
Trial Balance
( Bng Cn i s pht sinh )
Adjustments
( thc hin adjusting entries trn Journal )
Post adjusting trial balance
Closing Entry trn Journal
Post closing entries trial balance
Financial statement
Purchase Order : cng ty lp i mua hng Goods delivery note ( Phiu xut kho ) Goods dispatch note ( Phiu nhp kho ) Payment Order ( phiu chi, lnh chi ) , Standing Order
Credit Note/Debit Note
Khi doanh nghip mua hng t nh cung cp, nu
pht hin hng b h hng, li, km phm cht th
DN gi Debit Note cho nh cung cp yu cu
tr li hng v khu tr n phi tr. Nu nh cung
cp ng , h s gi Credit Note cho DN, y l
cn c D N ghi gim Payable ( N 331 / C
152 ).
Khi ngi mua hng overpayment s tin thanh
ton, ngi mua s gi Debit Note yu cu thu
li tin hoc khu tr tin hng ln sau. Nu chpnhn, ngi bn s gi Credit Note.
Remittance advice1 cng ty mua hng n 3 4 chuyn hng, khi
cng ty tr tin hng th s fill in Remittance advice
thng bo s tin tr cho ha n no, ngy
no ngi bn kim sot ha n no c thanh
ton v mi ha n c 1 credit period khc nhau.
Nhng nghip v no thng xuyn xy ra th chng
ta m 1 s theo di ring, l Specific Journal.
Lp S Tng hp ( G/L ) ring cho tt c ti
khon tng hp. Ngoi G/L, n v cn lp thm
Personal Accounts ( S chi tit ).
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S d Ti khon doanh thu, chi ph vn > 0.
Kt chuyn doanh thu, chi ph
Dr Income Summary / Cr Expense
Dr Revenue / Cr Income Summary
( S d DT, CP = 0 )
M t v Journal (SNht k )
Specific Journal thng bao gm cc s sau: General Journal
Cash Book ( ghi chp Cash Transactions , cc hot ng lin quan n thu chitin ).
Petty Cash Book Sales Day Book ( ghi chp Credit Transactions , cc hot ng bn hng tr chm
).
Purchase Day Book ( mua hng tr chm ). Sales Return Day Book ( theo di hng bn b tr li )
Theo di Daily Transactions
cn liV d:
Khu hao D phng cui k Adjusting entries Closing entries ......
Nu nh Journal l 1 quyn s vit tt c ti khon, n c rt nhiu trang, nn phi nh s trang cho Journal. Cn G/Lth theo di ring cho tng ti khon.
Bn cnh G/L, n v cn m cc s chi tit theo di cho tng i tng.
V d: A/R cho tng i tng khch hng A, B, C....
1 nghip v pht sinh phi c post ln ng thi S tng hp v S chi tit.V d: Bn hng cho khch hng A cha thu tin 1000 ng.
Double Entry
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Debit Accounts Receivable ( Customer A ) : 1000
Credit Sales Revenue : 1000
Khon A/R $ 1000 phi c post 2 ln ln S tng hp v S chi tit.
Nhn vin gi S tng hp v nhn vin gi S chi tit phi l 2 ngi khc nhau ( nguyn tc bt kim nhim ). Cui k,i chiu s liu trn ti khon tng hp v cc ti khon chi tit m cho TK tng hp phi bng nhau.
M phng v JournalJOURNAL Page 1
Date 2008 DescriptionPost Ref.
(Account Number)Dr Cr
Jan. 1Expense
Cash
532
111
X
X
JOURNAL Page 2
Date 2008 Description Post Ref. Dr Cr
Jan. 15Cash
Revenue
111
411
Y
Y
......
M phng vG/L
LEDGER
ACCOUNT Cash ACCOUNT NO. 111
Date 2008 Description Post Ref. Dr CrDr/
CrBalance
Jan. 1 Sold merchandise
( trang no trn
Journal ==> i
chiu )
3500
13 Purchase equipment J1 ( Journal page 1 ) 800
.......
Beginning balance X Total Total
S liu t G/L sau khi i chiu vi Personal Account, nu khp s c post ln Trial Balance.
Trial Balance ca nc ngoi ging nh Bng cn i s pht sinh ca VN, ngoi tr :
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TrialBalance ch ghi s d cui k Bng cn i s pht sinh ca VNtheo di s d u k, s pht sinh trong k v s d cui k.
M phng vTrialBalance
Account name Account numberTrialBalance
D
r CrCash
Inventory
.....
Total X X
M phng vBng cn i s pht sinh ca VN
Tn TKS hiu
TK
S d u k S pht sinh trong k S d cui k
Dr Cr Dr Cr Dr Cr
Tin mt 111
.....
Tng cng X X Y Y Z Z
Tc dng ca TrialBalace /Bng cn i s pht sinh ==> gip pht hin c nhng li sau y : Transposition ( o s ) Casting Errors ( Cng sai ) Errors of extraction Two entries on the same side ( 1 bt ton ch c Dr, khng c Cr hoc ngc li ) Errors on bringing forward balance ( kt chuyn s d cui k trc sang s d y k ny sai ).
Tuy nhin, c nhng li m TrialBalace /Bng cn i s pht sinh khng th pht hin c: Errors of commission
V d:
nh khon ng nh khon sai
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Dr Utilities Expense : 100
Dr Rent Expense : 50
Cr Cash : 150
Dr Utilities Expense : 130
Dr Rent Expense : 20
Cr Cash : 150
Compensating errors ( Sai b tr ) Errors of principle ( Sai nguyn tc k ton )
V d:
nh khon ng nh khon sai
Dr Expense : 100
Cr Cash : 100
Dr Fixed Assets : 100
Cr Cash : 100
Complete reversal of entries ( o bt ton ) Errors of omission ( B st nghip v, tc l c Source Documents, nhng k ton khng hch ton ) Errors of original entry ( Sai ngay t nghip v u tin, tc l nhp sai s liu gia Source Documents v s
sch ).
Sau khi Trial Balance cn bng, cui thng, k ton thc hin Adjusting entries. C 4 loi Adjusting entries:
Asset Liability
Expense
1. Dr Depreciation ExpenseCr Accumulated Depreciation
2. Dr ExpenseCr Provision for bad debts
( doubtful accounts )
3. iu chnh gim gi tr ti sn4. Dr Expense
Cr Prepayments
1. Dr ExpenseCr Accruals ( cc ngha v D N phi
thanh ton trong tng lai : Salary, Utility,
Rent, Insurance payable )
2. iu chnh tng li sut tri phiu phthnh so vi li sut th trng.
Revenue
1. Dr Accounts ReceivableCr Revenue
( Doanh thu c tnh )
2. iu chnh tng gi tr ti sn
Dr 3387 ( Doanh thu nhn trc )
Cr Revenue
Nh vy, Adjusting entries s dng 2 nguyn tc : Accure & Defer.
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Accure : cash will be received or paid in the future
V d: Chi ph phi tr ( 335 ) hoc Doanh thu c tnh theo hp ng xy dng.
Defer : cash was received or paid in the past
V d: Doanh thu nhn trc ( TK 3387 ) hoc Chi ph tr trc ( TK 142, 242 ).
Closing Entries ( Bt ton kha s )Sau khi thc hin Adjusting entries th current balance ca Revenue v Expense > 0, k ton thc hin bt ton kha s
kt chuyn doanh thu, chi ph sang 911 xc nh Net Income (khi Ending Balance ca Revenue v Expense = 0)
Kt chuyn Chi ph Kt chuyn Doanh thu
Dr Income Summary ( Income Identification )
Cr Expense
Dr Revenue
Cr Income Summary
( Profit &L
oss account )
T Net Income kt chuyn sang Retained Earning.
Net Income > 0 Net Income < 0
Dr Income Summary ( Income Identification )
Cr Retained Earning
Dr Retained Earning
Cr Income Summary
Slc v Chart of Accounts ( H thng ti khon ) H thng ti khon Vit Nam H thng ti khon nc ngoi
H thng k ton ca Vit Nam phi gnh nhiu mc ch
khc nhau :
y Mc ch k tony Mc ch thng ky Mc ch thu Cc TK ca Vit Nam c s hiu TK nht nh, DN
phi hch ton vo ng TK thun tin cho vic
tng hp, x l s liu.
H thng k ton ca nc ngoi ch s dng cho mc ch
k ton, cn nhng mc ch khc th c 1 h thng x l
khc.
Cc TK ca nc ngoi khng c s hiu TK nhtnh. Vic t s hiu TK nh th no l ty thuc
voDN, min l n p ng iu kin sau :
y Asset : TK 101 TK 199y Liability : TK 200 TK 299y Equity : TK 300 TK 399y Revenue : TK 400 TK 499
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y Expense : TK 500 TK 599
CHAPTER 2 : CASH AND CASH RECEIVABLES
1. CASH
Cash on hand Currency and Coins
Cash in bank
Balances in checking/ current accounts
Items acceptable for deposit in these accounts (checks, money orders received
from customers)
These forms of cash represent amounts readily available to pay off debt or to use in operations without any legal orcontractual restriction.
Some examples about restricted cash ( cash is restricted in some way and not available for current use. It is reported as
investments and funds or other assets )
Sc bo chi => ngn hng phong ta ti khon tin gi thanh ton ca payer m bo ti khon ca payer tin chi tr cho payee.
ML/C, k qu, k cc. Compensating balance ( s d ti thiu duy tr trong ti khon )
The borrower us asked to maintain a specified balance in a low-interest or noninterest-bearing account at the bank to
compensate the bank for granting the loan or extending the line of credit.
V d: vay ngn hng $15000, ngn hng yu cu phi duy tr lng tin ti thiu trong ti khon l $ 1000 ==> Cashin bank : $ 14000.
2. CASH EQUIVALENTS
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The investments have a maturity date no longer than three monthsfrom the date of purchase. For instance: treasury bills,
commercial paper.
Xt 2 tnh hung sau y:
a. Bn ang gi 1 tri phiu mua cch y 5 nm, cn 1 thng na mi ti hn. y khng phi l Cash Equivalent ( v bnkhng mun bn n u, chi ph c hi ca vic bn tri phiu ny l tin li cao m bn khng hng c ).
b. Bn ang gi 1 tri phiu mua cch y 5 ngy, cn 1 thng na l ti hn. y l Cash Equivalent.
ghi nhn Cash Equivalent l phi xem xt loi giy t c gi c d bn khng v bn c mun bn n khng.
3. PETTY CASH
nc ngoi, h giao dch qua ti khon ngn hng rt nhiu, h ch gi 1 t tin mt ( khong vi trm USD ) to payfor low-cost and miscellaneous items such as postage, office supplies, delivery charges and entertainment expenses.
Vit Nam khng c petty cash v tin mt ti qu rt nhiu.Quy trnh x l Petty Cash
Description Double Entry
1. Ngi i din theo php lut ca enterprise writes a check tothe custodian. A petty cash fund is established.
Dr Petty Cash
Cr Cash in bank
2. During the month of the first period No entries ( chi ph nh xu, khng trng yu )
3. At the end of the month, custodian lp Bng k v gi kmcc chng t cho K ton cng ty lp bt ton replenished.
Dr Expense (S tin trn chng t)
Dr Under/ Over petty cash
Cr Cash in bank ( S tin cn chuyn vo Petty Cash
n constant )
4. Nhng thng tip theo, vo cui thng, cn c vo Bng k,cc chng t do custodian cung cp, sau khi owener issued a
new check, K ton nh khon.
Dr Expense (S tin trn chng t)
Dr Under/ Over petty cash
Cr Cash in bank ( S tin cn chuyn vo Petty Cash
n constant )
Period u tin ( khi establish petty cash ) th lp 2 bt ton 1 & 2, nhng perios tip theo ch cn lp bt ton 4.
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Example:
On May 1, 2003, the Hawthorne Manufacturing Company established a $200 petty cash fund. John Ringo is designated as the
petty cash fund custodian. The fund will be replenished at the end of each month. On May 1, 2003, a check is written for $200
made out to John Ringo, petty cash custodian. During the month ofMay, John paid bills totaling $160 summarized as follows:
Postage $ 40
Office supplies $ 35
Delivery charges $ 55
Entertainment $ 30
Total $ 160
May 1, 2003Dr Petty Cash : 200
Cr Cash in bank : 200
During theMay 2003 No entries
At the end ofMay, Petty cash tn qu l 40Dr Expense : 160
Cr Cash in bank : 160
At the end ofMay, Petty cash tn qu l 30 ( d cha
tm ra c nguyn nhn, nhng owner vn phi issue
a check worthing $200 )
Dr Expense : 160
Dr Under petty cash : 10
Cr Cash in bank : 200 30 =170
4. BANK RECONCILIATION
Vit Nam ly Bank Statement lm chun. Nu s liu tin gi ngn hng trn S khng khp vi Bank Statement thK ton Vit iu chnh S :
NTK 112 C TK 3387 NTK 1381 C TK 112
International Accounting realizes that Differences between the cash book and bank balance occur due to differences inthe timing of recognition of certain transactions and errors. Therefore, they adjust the bank balance and the book
balance to the same cash balance.
Bank balance Cash book balance
Unpresented check
( Cheque outstanding )
Non sufficient-fund cheque
( NSF check / Dishonored check )
Payers account khng tin thanh ton ( permanent difference
=> ch khi no payer np thm tin vo ti khon ca h )
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Unclear lodgement
( not credit/debit to the
companys account )
Bank collections
( principal, interest, bank charges )
Standing order / Direct debit
Errors of bank
+ Credit transfer
( Khch hng tr tin trc thi hn, nhn tin c tc, li tin gi
ngn hng )
Errors of entity
Example 1:Gemma is reconciling her cash book to the bank statement. Her cash balance is $2357 and the balance on her
statement is $25 overdrawn. She finds the following differences :
- Bank charges of $23 and direct debit totaling $100 have not been posted to the cash book.- There are unpresented check of $324.- She paid in a batch of check two days ago totaling $2503 and these have not yet been credited to her account.- A check she paid in last week for $80 has been dishonoured.
What will the reconciled balance be ?
Bank balance Cash book balance
-25 324 + 2503 = 2154 2357 23 100 80 = 2154
The reconciled balance is 2154
Example 2:The Captain Manufacturing Company maintains a general checking account at the Pacific Bank. Pacific Bank
provides bank statement and canceled checks once a month. The cutoff date is the last day of the month. The bank statement for
the month ofMay is summarized as follows:
Balance, May 1, 2003 $ 32,120
Deposits $ 82,140
Checks processed ( 78, 433 )
Services charges ( 80 )
NSF checks ( 2
Note payment collected by bank ( includes $ 120 interest ) 1120
Balance, May 31, 2003 34, 680
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The companys general ledger cash account has a balance of $ 35,276 at the end ofMay. A review of the company records and
the bank statement reveals the following :
- Checks not yet deposited totaled $ 2,965- A deposit of $ 1020 was made on May 31 that was not credited to the companys account until June.- All checks written in April have been processed by the bank. Checks written inMay that had not been processed by the
bank total $ 5,536.
- A check written for $ 1,790 was incorrectly recorded by the company as a $790 disbursement. The check was forpayment to a supplier of raw materials.
Requirements : Prepare the bank reconciliation.
Bank balance : 34680 Cash book balance : 35276
Deposits 2965 + 1020 NSF checks 2187
Checks written 5536 Bank collections 1120
Errors 790 1790
34680 + 2965 + 1020 5536 = 33,129 80 2187 + 1120 1790 + 790 = 33, 129
The reconciled balance is 33,1295. ACCOUNTS RECEIVABLE
Accounts receivable are current assets because, by definition, they will be converted to cash within the normal operating cycle.
5.1. Initial valuation of accounts receivable5.1.1. Trade discount ( chit khu thng mi ) A percentage reduction from the list price to change prices or to give quantity discount to large customers. Ghi gim trc tip trn ha n.
5.1.2. Cach discount (Sales discount ) Reduce the amount to be paid if remittance is made within a specified short period of time. Represent reduction not in the selling price of good or service but in the amount to be paid within a specified
period of time to provide incentive for quick payment
V d: 2/10, n/30 ==> Thi gian tr n ti a l 30 ngy, nhng nu tr trong vng 10 ngy th c hng chit khu thanh
ton 2%.
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IncomeS
tatement Vietnamese Net method Gross method
Sales Revenue 20,000 19,600 20,000 120 = 19,720
Interest Revenue 0 120 0
Expense 280 0 0
Clearly, initial valuation of net method and gross method is different. Using either net method or gross method, net sales is reduced by discount taken ( 20,000 280 = 19,720 ). Discounts not taken ( 120 ) are included in sales revenue using the gross method and interest revenue using the net
method.5.2. Subsequent Valuation
Two situations possibly could cause the cash collected to be less than the initial valuation of the receivable:
Sales returns: The customer could return the product. Uncollectible Accounts Receivable: The customer could default and not pay the agreed on sales price.
5.2.1. Sales returns
Xt v d sau : Trong thng 10, cng ty A bn chu mt l hng, gi vn $70, gi bn $100. Vo ngy 5 thng 11, do khch hng
thy l hng khng phm cht nn tr li cho DN.
Thng 10 Khi bn c hng Thng 11 Khi tr li hng
a. Dr A/R : 100Cr Sales Revenue : 100
b. Dr COGS : 70
5/11:
a. Dr Sales Return : 50Cr A/R : 50
b. Dr Inventory : 35
20,000
19,600 ( 98% ) => gi
tr thc ca mn hng
m seller a cho khch
hng
400 ( 2% ) => tin li
cho khch hng hng
Discount taken( within 10 days ) : 280
Discount not taken
( overdue ) : 120
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Cr Inventory : 70 Cr COGS : 35
30/11:
Dr Sales Revenue : 50
Cr Sales Return : 50
Cu hi 1: Ti sao khng ghi gim trc tip Sales Revenue m phi s dng ti khon trung gian ( Sales Return ), cui thng
phi kt chuyn Sales Return sang Sales Revenue ?Bn phn NTK 511 c rt nhiu khon mc :Hng bn tr li, Gim gi hng bn, Chit khu thng mi, Thu xut
khu, Thu tiu th c bit, VAT theo phng php trc tip.Nu ghi gim trc tip TK Sales Revenue th nh qun tr
khng bit tng gi tr ca tng khon mc l bao nhiu.
Vic s dng TK trung gian ( Sales Return ) l 1 k thut k ton, va cung cp thng tin cho i tng bn ngoi (Cc khon gim tr doanh thu ) va cung cp chi tit gi tr ca tng khon mc gim tr doanh thu nh qun tr
c quyt nh ph hp:
Trong khon gim tr doanh thu m khon Chit khu thng mi chim t trng ln => kh nng tiu thsn phm ca cng ty l rt tt, khch hng mua hng nhiu nn chit khu cho khch hng nhiu.
Nu Gim gi hng bn, Hng bn tr li chim t trng cao cho thy cht lng sn phm ca cng ty khngtt, cn phi xem xt li qu trnh sn xut nhm gia tng gi tr khch hng.
Cu hi 2:Vic nh khon nh Vit Nam nh trn s ny sinh vn g ?
Returning goods of October do not make sales revenue ofOctober debit, but Novembers sales revenue => SalesRevenue of October is overstated while Novembers one is understated. Recognizing sales returns when they occur
could result in an overstatement of income in the period of the ralated sale.
Tng t, cng ty bn hng nm 2010 ( doanh thu l 100 ), qua nm 2011, doanh thu bn hng l 100, gi tr hng m
khch hng tr li l 50 th cch hch ton nh Vit Nam s lm doanh thu nm 2010 b nh gi cao v doanh thu nm
2011 b gim tr => khng cung cp thng tin hu ch.
Nu nh vic bn hng nm 2010 v 2011 l do 2 i ng bn hng khc nhau thc hin ( A v B tng ng ) . iuny cng lm cho nh qun tr khen thng cho i ng bn hng A nm 2010, nhng li a ra kin i ng bn
hng B lm vic km hiu qu, nhng thc t i A ch bn c 50 cn i ng B bn c 100 ==> rt bt cng cho
i B.
Cu hi 3:C cch no khc phc vn trn hay khng ?
Yes, International Accounting makes provision for Sales Return as follows
1. Make salesGhi nhn bn
hng
a. Dr A/RCr Sales Revenue
b. Dr COGSCr Inventory
Make a. Dr Sales Return
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allowances at the
end of
accounting
period
Cr Allowance for Sales Return
b. Dr Inventory estimated returnCr COGS
At the end of month :
Dr SalesRevenue /Cr Sales Return
2. Receive a return
a. Dr Sales Return AllowanceCr A/R
b. Dr InventoryCr Inventory estimated return
Nu d phng khng th x l nh cha lp d phng :c. Dr Sales Return
Cr A/R
d. D
r InventoryCr COGS
Nu lp d phng b d th hoc l hon nhp ( reverse bt ton lp d phng ) hoc b tr vi khon d phng cnlp cho nhng k tip theo.
Vic trch lp d phng vo cui k lm cho doanh thu k bn hng hp l hn mt cht nhng khng m bo hp l100%.
Example :
During 2003, its first year of operations, the Hawthorne Manufacturing Company sold merchandise on account for $2,000,000.
This merchandise cost $1,200,000 ( 60% of the selling price ). Industry experience indicates that 10% of all sales will be
returned. Customers returned $130,000 in sales during 2003, prior to making payment. The entries to record sales and
merchandise returned during the year, assuming that a perpetual inventory system is used.
Nghip v bn hng
Dr A/R : 2,000,000
Cr Sales Revenue : 2,000,000
Dr COGS : 1,200,000
Cr Inventory : 1,200,000
Receive a return
Dr Sales Return : 130,00
Cr A/R : 130,000
Dr COGS : 78,000
Cr Inventory : 78,000
Make provisons forSales Return at the end of 2003
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Dr Sales Return : 10% * 2,000,000 130,000 = 70,000
Cr Sales Return Allowance : 70,000
Dr Inventory estimated return : 60% * 70,000 = 42,000
Cr COGS : 42,000
Dr Sales Revenue : 200,000
Cr Sales Return : 200,000
The sales revenue in 2004 was 3,000,000. In 2004, customers returned $ X in sales.
Ending 2004, the company make allowance for10% of all sales will be returned.
a. X = $ 60,000
b. X = $ 80,000
Receive a return
Dr Sales Return Allowance : 60,000
Cr A/R : 60,000
Dr Inventory : 60% * 60,000 = 36,000
Cr Inventory estimated return : 36,000
Make allowances at the end of2004
Dr Sales Return : 3,000,000 * 10% - 10,000 = 290,000
Cr Allowance for Sales Return : 290,000
Dr Inventory estimated return : 60% * 290,000 = 174,000
Cr COGS : 174,000
Bt ton kt chuyn
Dr Sales Revenue : 290,000
Cr Sales Return : 290,000
Receive a return
Dr Sales Return Allowance : 70,000
Dr Sales Return : 10,000
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Income statement approach Balance Sheet approach
Estimate bad debt expense as a percentage of each
periods net sales. The balance sheet amount is an
indirect outcome of estimating bad dent expense.Mun
tng hay gim chi ph th ch cn thay i gi tr d
phng, t tc ng n B/S.
Determine bad debt expense by estimating the net realizable
value of accounts receivable to be reported in the balance
sheet.Income Statement l hu qu ca B/S nn ph thuc vo
B/S, t khng kim sot c chi ph trn I/S.
Vit Nam ang lp d phng cc khon phi thu kh i theo cch tip cn t Balance Sheet. Cui nm mnh r lidanh sch khch hng v tnh ton s tin mnh khng th thu hi c. Measurement the value of uncollective
accounts receivable depends on debt age overdue ( ly s liu t cc ti khon control & detail ) ==> Making
provisons for bad debts by balance sheet approach reflects the value of accounts receivable more exactly than income
statement approach.
Tuy nhin, Income Statement phn nh Bad debt Expense chnh xc hn v y l chi ph cng ty chp nhn b i get sales.
S cn thit phi trch lp d phng:
Khng trch lp d phng Trch lp d phng
D
oanh thu : 1000Chi ph : 700
Net profit : 300
D
oanh thu : 1000Chi ph : 700 + 200 ( d phng )
Net profit : 100
D c trch lp d phng hay khng, th tin li vn khng i ( tng ngn lu rng ging nhau c 2 trng hp ), linhun thc t ging nhau, nhng li nhun k ton trong trng hp lp d phng s thp hn khi khng lp d phng.
Li nhun k ton sau thu thp th chia c tc t => DN gi li c nhiu ti sn, ngun lc kinh t chi xi trong
tng lai, hn ch vic phn phi ti sn nhiu.
Vic trch lp d phng cn gip cho doanh thu v chi ph cc k cng bng, khng c bin ng qu ln.
Example :The Hawthorne Manufacturing Company sells its products offering 30 days credit to its customers. During 2003, its
first year of operations, the following events occurred:
Sales on credit $ 1,2000,000
Cash collections from credit customers ( 895,000 )
Accounts receivable, end of year $305,000
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There were no specific accounts determined to be uncollectible in 2003. The company anticipates that 2% of all credit sales will
ultimately become uncollectible. And $ 20,000 of accounts receivable is considered uncollectible.
Income statement approach Balance sheet approach
Dr Bad debt Expense :
2% * 1,2000,000 = 24,000
Cr Provision for Uncollective Accounts Receivable :24,000
Dr Bad debt Expense : 20,000
Cr Provision for Uncollective Accounts Receivable :
20,000
Balance Sheet as at December 2004
A/R : 305,000
Provision : ( 24,000 )
Net A/R : 281,000
Balance Sheet as at December 2004
A/R : 305,000
Provision : ( 20,000 )
Net A/R : 285,000
Income Statement for the year
ended 2004
Bad debt Expense : 24,000
Income Statement for the year
ended 2004
Bad debt Expense : 20,000
Vo nm 2004, mt khon n 10,000 khng th thu hi c.
Income statement approach Balance sheet approach
Dr Provision for Uncollective Accounts Receivable : 10,000
Cr Accounts Receivable : 10,000
Sau khi xa n, The Statement of Financial Position nh sau :
Income statement approach Balance sheet approach
A/R : 305,000 10,000 = 295,000
Provision : ( 14,000 )
Net A/R : 281,000
A/R : 305,000 10,000 = 295,000
Provision : ( 10,000 )
Net A/R : 285,000
Bit doanh thu nm 2004 l $ 750,000. Cng ty tin hnh lp d phng cc khon phi thu kh i theo 2% tng doanh s bn
hng. Mt khc, cng ty tin hnh r sot li cc khon phi thu v c tnh $ 12,000 khng th thu hi.
Income statement approach Balance sheet approach
Dr Bad debt Expense :
2% * 750,000 = 15,000
Cr Provision for Uncollective Accounts Receivable :15,000
Dr Bad debt Expense :
12,000 10,000 = 2,000
Cr Provision for Uncollective Accounts Receivable :2,000
nh khon sau y l sai :
Dr Bad debt Expense :
2% * 750,000 14,000 = 1,000
Cr Provision for Uncollective Accounts Receivable :
Do cng ty r sot li danh sch cc khch hng mua chu,
nhn thy s d d phng cui nm 2004 phi l $ 12,000.
Nhng cc nm trc mnh lp d phng $ 10,000 ri
nn by gi ch cn lp d phng thm $ 2000. y l nt
khc bit gia I/S approach & B/S approach.
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1,000
V $ 15,000 mi l chi ph mnh chp nhn b i bn c
hng.
CHAPTER 3 : INVENTORY
Inventory concept ( IAS 2, paragraph 6 )
Assets that:
Held for sale in the ordinary course of business In the production process for sale in the ordinary
course of business.
In the form of materials or supplies to be consumedin the production process or in the rendering of
services.
Hng tn kho l cc loi ti sn:
Gi bn trong qu trnh hot ng kinh doanhbnh thng.
Trong qu trnh sn xut bn.
Nguyn vt liu hay cng c s dng trong qutrnh sn xut hay cung cp dch v.
Xt v d sau: Cng ty Th Ch mua 1 l sa t Nht, nhng sau Nh nc ra quy nh cm nhp khu v bn cc loi sa c
ngun gc t Nht. Trong trng hp ny cng ty c ghi nhn y l hng tn kho hay khng ?
Nu Th Ch ngh rng mnh cn c kh nng thu c future economic benefit t l sa ( cho heo n, internal use... ) => ghi nhn l Inventory.
Nu Th Ch thy rng l sa ny bn khng ai mua, cho ai khng ly, khng ung c, ch c th em tiu hy thkhng ghi nhn l Inventoty (v ngay c iu kin ghi nhn ti sn future economic benefit cng khng tha
mn). Khi k ton nh khon: DrOther Expense / Cr Cash.
Types of inventory Definition
Raw materials Nguyn vt liu ( TK 152 )
S dng cho qu trnh sn xut Intrusments, Tools,
Suppliess
Cng c, dng c
( TK 153 )
Work in progress ( WIP )Chi ph sn xu t, kinh doanh d dang (TK
154 )Sn phm cha hon thnh tin trnh sn xut
Finished goods Thnh phm ( TK 155 ) Sn phm hon thnh v sn sng bn
Merchandise inventory Hng ha ( TK 156 )
Hng mua v gi bn.
V d: hng ha ca cc DN bn l mua v bn
hay bt ng sn ca cc DN kinh doanh bt ng
sn gi bn.
Trong Inventory cn c 2 loi na l :y Goods in transit ( Hng mua ang i ng )y Goods on Consignment ( Hng gi i bn )
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Goods in Transit
Inventory shipped FOB shipping point ( FOB )is included
in the purchasers inventory as soon as the merchandise is
shipped.
Inventory shipped FOB destination (CIF) is included in the
purchasers inventory onlyafter it reaches the purchasers
destination.
Ch : Phn ln ri ro v li ch ca hng ha thuc v ai th hng ha thuc v ngi &xut hin trn BalanceSheet ca n v , khng quan trng Legal form v quyn s hu ca n l g ( p dng cho Leasing v Goods on
Consignment ).
Nu DN gi bn hng cho i l, i l bn ng gi, hng
hoa hng bn hng trn doanh s bn c
Nu DN gi bn hng cho i l, nhng khng quy nh gi
bn, i l thy gi no c th bn ==> i l hng hoa
hng + chnh lch gi
Risk and Award ca hng ha phn ln do cng ty nm
gi => l hng gi bn ny l Inventory ca cng ty. Goods
held on consignment are included in the inventory on B/S ofthe consignor ( the company ) until sold by the consignee.
Risk and Benefit ca hng ha phn ln thuc v i l
=> l hng gi bn ny l Inventory ca i l. Cng ty
khng ghi nhn n trn Balance Sheet ca mnh.L
hngny xut hin Inventory trn B/S ca i l ( agent ).
Chu trnh ca hng tn kho:
Purchase ==> Issue/Use ==> Sold ==> Revaluate at the end of the year.
1. PURCHASING PROCEDURE&DOCUMENTATIONStep 1 :
Production
department
Material
requisitionStore
Purchase
requisition form
Purchasing
department
Purchasing order
Manager
ratify
Explanation:
( 1 ) A materials requisition will be completed when materials are needed from stores by the production department. An
official from production ( trng b phn sn xut ) will sign the form to authorize it.
It is then used as a source document for:
a. Updating the bin card in stores
b. Updating the stores ledger account in the costing department ( k ton qun tr )
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c. Charging the job ( tnh gi thnh ), overhead or department that is using the materials ( so snh vic s dng chi ph ca tng
b phn so vi li nhun m b phn lm ra xem b phn c lm vic hiu qu hay khng ).
( 2 ) Th kho sau khi i chiu th kho v yu cu cung cp nguyn vt liu t b phn sn xut, nu thiu s lp ra n thng
bo mua hng.
Gii thiu v Bin Card ( Th Kho )
y Description ( tn hng )yInventory code ( m nguyn liu )yInventory units ( n v tnh )y Bin number ( m s th kho )y Issues to production ( lng xut )y Receipts ( s lng nhp )
Trn Bin Card khng th hin gi tr ca vt t,hng ha.
N c th kho lp, gi v s dng nn ch cntheo di s lng.
y Balance ( tn trong kho )( 3 )Purchasing department ( phng vt t ) i chi u gia thng bo mua hng v material buget c b phn k ton
qun tr lp d ton cui nm trc:
Nu yu cu mua hng ph hp vi material budget th trng b phn mua hng ph duyt vic mua hng =>a ln cho gim c approve / authorise ln cui.
Nu yu cu mua hng khng nm trong material budget hoc gi tr vt qu thm quyn th trng phng phixin kin gim c. Nu c php th trng phng mua hng hon chnh h s, ph duyt, sau chuyn cho
gim c k duyt cui cng.
Sau khi c gim c chp thun, Purchasing department finds & contacts the best supplier and order products.
Cu hi: Ti sao khng giao cho b phn sn xut hoc kho i mua hng lun, m li giao cho b phn mua hng ?
y l 1 th tc kim sot trong kim sot ni b ( Internal Control ) vi nguyn tc bt kim nhim : ngi yu cu mua hng,
ngi ph duyt mua phi c lp vi ngi i mua. Purchasing department khng c t i mua hng m khng c s yu
cu t Production department & Store v khng c s ph duyt ca gim c.
Supplier s gi Potation/ Listed price ( giy bo gi ) cho cng ty. Sau khi la chn c vt t, hng ha phhp, Purchasing department s fill in Purchase Order v gi cho suppiler.
Step 2 :
( 4 ) Products (6)Goods Delivery
+ Goods Delivery Note Note ( copy )
+
Supplier The
company
Supplier
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( 5 ) Dispatch Note Goods Received Note
Explanation:
( 4 ) The supplier sends products along with Goods Delivery Note to the company. Delivery Note is a written document fromthe seller to the buyer that specifies type of goods and quantity. Price may be included or not.
( 5 )After that, the seller sends Dispatch Note ( thng bo gi hng ) by email to the enterprise in order to inform that the
goods are on their way and when they will be delivered.
An example of Dispatch Note:
We are pleased to inform you that yourgoods were sent today. We hereby inform you that your goods will be delivered tomorrow. We hope that the goods will arrive in perfect condition. We look forward to doing business with you again.
( 6 ) When gooods are received into the company, Purchasing department signs on the Delivery Note ( one side keeps a
Delivery Note ). After that, store keeper or Purchasing department produced Goods ReceivedNote ( Phiu nhp kho).
Goods ReceivedNote usually accompanies goods to any inspection. In addition, it must have thestore keepers signature.
( 7 ) Purchasing department makes copy of Invoice, Purchase Order (contract), Goods ReceivedNote, Potation and sends
all of them to the Accounting department.
( 8 ) Accountants have to check 3 things:
Check the Invoice and Goods Received Note to guarantee that goods have been delivered and are in satisfactorycondition ( m bo mua c th cn mua trong tnh trng tt nht ).
Check the Invoice and Purchase Order to make sure that the price and terms are as agreed ( ch thanh ton nhng gcng ty t hng thi ).
Check the Invoice that the calculations on the invoice are correct ( including sales tax, VAT ). If everything is in order, the accountants will record figures in the Stores Ledger Accounts, Cash Book or
Payables Ledger.
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y 1 kg rau mua v, qua s ch thu c 0,7 kg rau sch cn 0,3 kg rau a vng, b su n phi b i ==> 0,3 kg rau ny lhao ht trong nh mc ( normal waste ). Nhng hao ht bt thng ( abnormal waste ) khng c tnh vo gi gc
inventories.
Chi ph qun l khng lin quan n qu trnh a hng tn kho vo v tr v iu kin sn sng s dng. Chi ph lu kho, bo qun sn phm ( Storage ) m khng phc v cho qu trnh sn xut tip theo.
Theo nguyn tc, sn phm khi ri vo trng thi available for use th Storage Cost khng c tnh vo gi thnh, m avo Selling Cost.
Chi ph bn hng ( transportation out, freight out, carriage outward .... )
Two inventory accounting system
Perpetual inventory system
( K khai thng xuyn )
Periodic inventory system
( Kim k nh k )
A perpetual inventory system continuously
records both changes in inventory quantity and
inventory cost.
A periodic inventory system adjusts inventory and records cost of goods sold
only at the end of each reporting period.
Mi khi xut hng, tnh gi hng xut khotheo 1 trong 3 phng php sau ( theo IAS
2 version 1/1/2003 )
y FIFO First in, first outy Weighted average pricing methody Specific cost
Khi xut hng khng nh khon. Cui k, tnh gi tr hng xut kho nh sau:- Kim k bit s lng hng tn kho cui k.- Dng 4 phng php tnh gi tnh gi tr hng tn kho cui k.
Cost of goods sold = Beginning inventory + Net purchases Ending inventory
Example 1:The Anna Wholesale Beverage Company purchases soft drinks from producers and sells them to retailers. The
company begins 2003 with merchandise inventory of $120,000 on hand. During 2003 additional merchandise is purchased on
account at a cost of $600,000. Sales for the year, all on account, totaled $820,000. The cost of the soft drinks sold is $540,000.
Anna uses the perpetual inventory system to keep track of inventory quantities and inventory costs.
Purchased
Inventory
Dr Inventory : 600,000
Cr Payable to suppliers : 600,000
Sold
Inventory
a. Dr COGS : 540,000Cr Inventory : 540,000
b. Dr A/ R : 820,000Cr Sales Revenue : 820,000
Example 2:The Anna Wholesale Beverage Company purchases soft drinks from producers and sells them to retailers. The
company begins 2003 with merchandise inventory of $120,000 on hand. During 2003 additional merchandise is purchased on
account at a cost of $600,000. Sales for the year, all on account, totaled $820,000. The cost of the soft drinks sold is $540,000. In
addition, ending inventoy is $ 180,000. Anna uses the periodic inventory system.
Purchased
Inventory
Dr Purchase : 600,000
Cr Payable to suppliers : 600,000
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Sold
Inventory
Dr A/ R : 820,000
Cr Sales Revenue : 820,000
End of period
Dr COGS : 120,000 + 600,000 180,000 = 540,000
Dr Inventory : 180,000 120,000 = 60,000
Cr Purchase : 600,000
A comparison of two inventory accounting systems
A perpetual inventory system provides more timely information but generally is more costly than a periodic inventory system.
Pricing techniques ( Phng php tnh gi xut kho )
Phng php tnh gi hng tn kho cn p dng nht qun i vi tt c loi hng tn kho c cng bn cht v tnhhu dng.
IAS 2 version c hiu lc t ngy 1/1/2003, tch bit 2 nhm hng tn kho vi 3 phng php tnh gi khc nhau:a. Chi ph hng t n kho ca cc loi hng khng c sn xu t hng lot hay khng th thay th &cc hng ha ( dch
v ) sn xut c th cho nhng n t hng c th, v d: trang sc, cc thit b c th... cn s dng phng
php thc t ch danh.
b. Chi ph hng tn kho ca cc mt hng khc c xc nh theo phng php nhp trc xut trc ( FIFO ) hocbnh qun gia quyn.
FIFO First in, first out Definition Advantages Disa
Values issues at the price of the oldest
items in inventory at the time the issues
were made.
It is logical as the oldest stock is likely
to be used first: Easy to understand
and explain.
Cumbersome to operate because of
the need to identify each batch of
material separately.
The remaining inventory thus will be
valued at the price of the most recent
purchases.
Closing stock is valued near
replacement cost.
Variety of price for the same material
may make it difficult to compare cost
and make decision.
Weighted average pricing method Phng php ny s dng gi bnh qun cho cc n v hng t n kho trong k. Thng c s dng cho cc loi hng
tn kho thng thng, c th thay th nh hng may mc.
Issue price
C 2 cch tnh bnh qun gia quyn:y Cumulative weighted average pricing ( bnh qun lin hon ) : calculating average cost whenever a new delivery is
received ( mi khi hng nhp v phi tnh gi bnh qun cho cc loi hng trong kho ).
y Periodic weighted average pricing ( bnh qun gia quyn 1 ln cui k ): calculating average cost at the end of agiven period.
IAS 2 version trc nm 2003, cho php tnh thm phng php LIFO. It is the oposite of FIFO.
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FIFO is based on the price of the oldest items, not close to market value. Therefore it is difficult for the managersto make dicisions.
Using LIFO, issues will be valued at the price of the most recent purchases; hence the remaining inventory will bevalued at the price of the oldest items. Because issue at cost close to current market value, which makes it easy for
decision making.
However,
L
IFO
has disadvantages galore.
y Cumbersome to operate because of the need to identify each batch of material separately: Difficult to explain asit is opposite to what is physically happening.
y Variety of price for the same material may make it difficult to compare cost and make decision.
Purchase discount
On October 5th
2003, the Anna Company purchased merchandise at a price of $20,000. The repayment terms are stated as 2/10,n/30. Lothridge paid $13,720 ($14,000 less the 2% cash discount) on October 14 and the remaining balance of $6,000 on
November 4. Anna employs aperiodic inventory system.
Vietnamese Net method Gross method
October 5:
Dr Purchase : 20,000
Cr A/ P: 20,000
Dr Purchase: 19,600
Cr Accounts Receivable :
20,000 * ( 1-2%) = 19,600
Dr
Purchase : 20,000
Cr A/ P:20,000
October 14
Dr A/P : 14,000
CrFinancial Income : 280
Cr Cash : 13,720
Dr A/P : 13,720
Cr Cash : 13,720
Dr A/P : 14,000
CrDiscountReceived ( Interest
Income ) : 280
Cr Cash : 13,720
November 4
Dr A/P : 6,000
Cr Cash : 6,000
Dr A/P:
19,600 - 13,720= 5880
Dr Interest expense :
6,000 * 2% = 120
Cr Cash : 6,000
Dr A/P : 6,000
Cr Cash : 6,000
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Inventory Evaluation
Bo co ti chnh cn phi phn nh trung thc v hp l tnh hnh ti chnh ca n v. Do vic nh gi li hng tn kho
cui k nhm khng nh gi cao ( oversteted ) gi tr ti sn ( accoring to the prudence principle ).
Gi tr hng tn kho cui k c th hin trn Bo co ti chnh
CARRYING AMOUNT= MIN ( HISTORICAL COST, MARKET VALUE )
Vietnamese&IAS
US
Market value = Net realizable value ( NRV ) = Expected
selling price Cost incurred in getting them ready for sale
Selling Cost = Gi bn c tnh trong iu kin bnh thng
Chi ph c tnh hon thnh sn phm Chi ph c
tnh cho vic bn hng.
Market value is defined as replacement cost (RC) which
should not :
Exceed the net realizable value Be less than net realizable value reduced by an
allowance for an normal profit margin ( PM ).
Xc nh Market value theo USnh sau:
NRV PM NRV
RC thc t RC thc t RC thc t
Market value Market value Market value
y Nu RC thc tNRV PM thMarket value xc nh theo US = NRV PMy Nu NRV PMRC thc t NRV thMarket value = RC thc ty Nu NRV RC thc t thMarket value xc nh theo US = NRV
CHAPTER 4: NON-CURRENT ASSETS
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