中级财务会计(双语)第四章

Chapter4Inventories:AdditionalIssuesImpairmentofInventories•Impairmentofinventories(存货的减值):thecostofinventoriesmaynotberecoverable.▪Thevalueoftheinventoriesdropbelowtheirhistoricalcost.▪InventoryvaluecostImpairmentofInventories•Howdoweknowwehaveanimpairmentofinventories?如何判断存货存在减值迹象？•Impairmentisincurred:▪Ifthoseinventoriesaredamaged被损坏▪Ifinventorieshavebecomewhollyorpartiallyobsolete部分或全部过时▪Iftheirsellingpriceshavedeclined市价下跌▪Iftheestimatedcostsofcompletionortheestimatedcoststobeincurredtomakethesalehaveincreased.估计的完工成本或估计的销售费用上涨ImpairmentofInventories•Whentheimpairmentofinventorieshasincurred,weuseLCMmethodtomeasuretheinventories.▪LCMmethod:lower-of-cost-or-marketmethod(成本与市价孰低法)▪ComparecostwithcurrentmarketvalueMarketvalueCostInventoryvalue=MVCostMarketvalueInventoryvalue=costImpairmentisincurred.Impairmentisnotincurred.HowtouseLCMmethod•Whatisthe“cost”?▪“Cost”referstothe“costofendinginventory”•Howtocalculatethe“costofendinginv.”?▪“Costofendinginventory”iscalculatedbyspecificidentification,averagecost,FIFO,LIFOmethodwhichwerediscussedinChapter3HowtouseLCMmethod•Whatisthe“marketvalue”?▪“Marketvalue”referstothe“Netrealizablevalue(NRV)”ofinventories.•Howtocalculatethe“NRV”?①Inventoriesheldforsale持有以备出售的存货Suchasfinishedgoods(alsocalledmerchandisinginventory)NRV=estimatedsellingprice–disposalcosts可变现净值=估计售价–处置成本(销售费用及相关税费)HowtouseLCMmethod•Howtocalculatethe“NRV”?②Inventoriesheldforuseintheproduction持有用于生产的存货Usuallytheyarerawmaterialsorwork-in-process.Alsocalledmanufacturinginventory.NRV=estimatedsellingprice–estimatedcostsofcompletion–disposalcosts可变现净值=估计售价–至完工时估计将要发生的成本–处置成本(销售费用及相关税费)Exercise•P167E4-2–(1)CalculatetheNRVforeachproduct.–(2)Determinetheinventory’svalueforeachproductbyapplyingtheLCMmethod.Exercise•P167E4-2•OnlytheProduct2isimpaired.ProductNRVCostLCM134202028090803605050AdjustingCosttoMarket•WhenacompanyusestheLCMmethodtovalueinventories(ifinventoryvaluecost),awrite-down(减值)ofinventoryisrequired.•Dr.Lossonwrite-downofinventory(存货减值损失)•Cr.Inventoryvaluationallowance(存货跌价准备)Exercise•P167E4-2•OnlytheProduct2isimpaired.ProductNRVCostLCM134202028090803605050Example•ImpairmentlossofProduct2=90-80=10•Dr:Lossonwrite-downofinventory10•Cr:Inventoryvaluationallowance10ApplyingLCMmethod•TheLCMmethodcanbeappliedtoindividualinventoryitems,logicalinventorycategories,ortheentireinventory.•市价与成本孰低法可以应用于个别存货项目、存货组合或者整体存货。Usually:useLCMmethodonindividualinventoryitem通常对单个存货项目计提减值Undercertaincircumstances:useLCMmethodonlogicalinventorycategoriesortheentireinventory在某些特殊情况下，对存货组合或整体存货计提减值ApplyingLCMmethod•Supposewehavefiveinventoryitems:A,B,C,D,E.ItemCostMarketvalue(NRV)A50,00065,000B100,00090,000C80,00065,000D90,00056,000E95,00086,000ApplyingLCMmethod•ItemsA-BanditemsC-Earetwocollectionsofsimilaritemsthatcanbeconsideredastwologicalinventorycategories.ItemAItemBItemCItemDItemEInventorycategoryⅠInventorycategoryⅡApplyingLCMmethod•UseLCMtodeterminetheinventoryvalue.Threeapplications:1.ApplyLCMmethodtoindividualinventoryitem.ItemCostNRVInventoryvalueA50,00065,00050,000B100,00090,00090,000C80,00065,00065,000D90,00056,00056,000E95,00086,00086,000Total415,000347,000AdjustingCosttoMarket•Write-downofinventory=415,000-347,000=68,000•Dr.Lossonwrite-downofinventory68,000•Cr.Inventoryvaluationallowance68,000ApplyingLCMmethod2.ApplyLCMmethodtologicalinventorycategories.ItemCostNRVInventoryvalueA50,00065,000B100,00090,000A+B(Ⅰ)150,000155,000150,000C80,00065,000D90,00056,000E95,00086,000C+D+E(Ⅱ)265,000207,000207,000Total415,000357,000AdjustingCosttoMarket•Write-downofinventory=415,000-357,000=58,000•Dr.Lossonwrite-downofinventory58,000•Cr.Inventoryvaluationallowance58,000ApplyingLCMmethod3.ApplyLCMmethodtotheentireinventory.ItemCostNRVInventoryvalueA50,00065,000B100,00090,000C80,00065,000D90,00056,000E95,00086,000Total415,000362,000362,000AdjustingCosttoMarket•Write-downofinventory=415,000-362,000=53,000•Dr.Lossonwrite-downofinventory53,000•Cr.Inventoryvaluationallowance53,000ApplyingLCMmethod•Comparethreeapplications:1.ApplyLCMtoindividualinventoryitem,▪Inventoryvalue=$347,0002.ApplyLCMtologicalinventorycategories,▪Inventoryvalue=$357,0003.ApplyLCMtotheentireinventory,▪Inventoryvalue=$362,000ApplyingLCMtogroupsofinventoryitemswillusuallycauseahigherinventoryvaluationthanifappliedonanitem-by-itembasis.用“市价与成本孰低法”对存货组合(或整体存货)计算出的存货价值会高于对单个存货计算出的存货价值。Exercise1.Determinetheamountoftheimpairmentlossfromwrite-downofinventory,applyingtheLCMmethodto:a)Individualitemsb)Inventorycategories(supposeproductL1andL2areincategoryAandproductL3andL4areincategoryB)c)Theentireinventory2.Makejournalentriesunderabovethreeconditions.ProductCostNRVL1$120,000$100,000L2$90,000$110,000L3$60,000$50,000L4$30,000$50,000Reversalofwrite-down•Whenthecircumstancesthatpreviouslycausedinventoriestobewrittendownbelowcostnolongerexist,theamountofthewrite-downisreversed.当以前减记存货价值的影响因素已经消失时，可以转回计提的存货跌价准备。•whenthereisanincreaseinNRVofinventories,theamountofthewrite-downshouldbereversed.Reversalofwrite-down•Thereversalshouldbelimitedtotheamountoftheorigi