employee B: checks ,along with one cope of listing
employee C: enter the receipts into the accouting records
sent the second copy of the check listing to employeeC
procedures---cash disbursement
elements
disbursements
付款通过支票进行
all disbursements should be made by check
expenditures
支出应该得到授权
all expenditures should be autorized
checks
支票只能由授权人士签名
checks should be signed only by authoriaed individuals
noninterest-bearing notes
the discount on note receivable
note receivable
classified
less than a year
short- term note
more than a year
long-term note
allowence method(GAAP)
the amount of debts is material
companies use a contra-asset account
the allowance for uncollectible accounts
tp reduce the carrying value of accounts receivable
carrying value 账面价值
Both the carrying value and the amount of the allowance typically are shown on the face of the balance sheet
trade discounts and cash discounts
trade discounts
percentage reduction from the list price
quantity discounts to large customers
cash discounts
intensive for quick payment
Reductions in the amount to be paid by a credit customer if paid within a specified period of time
eg. 2/10, n/30—meaning a 2% discount if paid within 10 days, otherwise full payment within 30 days
gross method
net method
account receivable
when sellers recognize revenue associates with a credit sale
收入与赊销
performance obiligation
satifited at the point of delivery
revenue and reciviable
most business provide credit to their customers
大多数企业都为客户提供信贷
inform credit arrangements supported by an invoice that due in 30 to 60 days after the sale
应收账款是由发票支持的非正式信用安排，通常在销售后30至60天内到期
–Classified as current assets because their normal collection period is part of the operating cycle of the business
被归类为流动资产，因为它们的正常收款期是业务运营周期的一部分
IFRS
=asset-overdraft current liability
allows overdrafts to be offset
允许抵消(offset)透支
liabilities
liabilities can be offset against other cash accounts and started at their net value on the balance sheet.
U.S.GAAP
overdrafts should be treated as liability
overdraft 透支
requires assets and liabilities to be started separately on balance sheet
compensating balances
补偿性余额
补偿银行发放贷款或延长信贷（credit)额度的金额
borrower
asked to maintain a specified balance in a low interest or noninterest bearing account at the bank.
balance
余额
required balance equals some percentage of the committed amount
effective interest
borrower pays effective interest rate higher than the started rate on the debt
=interest rate/actural borrowing
restricted cash
限制性现金
for sprcific purpose
eg.for future plant expansion
contractually imposed
eg.debt instruments require the borrower to set aside funds
债务工具要求借款人预留资金
net sales revenue is the same under the two methods
accounting for sales revenue
account for initial valuation of accounts receivable
1.Sellers recognize an amount of revenue equal to the amount they are entitled to receive in exchange for satisfying a performance obligation
2. Sellers allocate the transaction price to the various performance obligations in a contract and then recognize revenue when performance obligations are satisfied
•Potential complexities:
–Time value of money
–Variable consideration
