财会Chapter10 Liabilities

财会——知识点总结，分期付款应付票据——企业通过发行一系列要求分期付款的长期票据，为购置不动产和其他某些种类的设备融资。

Liabilities

• The nature of liabilities
  • Debt和Equity的区别
    • Maturity date不同
    • 借用资金的提供方是债权人，不是所有人
    • 如果公司停止经营并清算，债权人必须be paid in full
    • 有时，借款人抵押特定资产的所有权作为贷款的抵押品（collateral）
  • Estimated Liabilities 估计负债
    • 负债已存在
    • 要在以后某个较晚的日期才能明确金额
• Current Liabilities 流动负债
  • Requirement
    • 不满足的就是long-term or noncurrent liabilities
    • 在一年或一个营业周期（取两者中较长者）内必须偿付的债务
    • will be paid from current assets(or through the rendering of services)
      • 提供服务
  • Account Payable
    • Under F.O.B shipping point,当商品由供应商装运时，产生债务并转让商品所有权。
    • Under F.O.B destination,在买方收到货物之前，不会产生债务，所有权也不会转移。
    • Material amounts of merchandise are purchases on terms F.O.B shipping point
  • Notes Payable
    • 要求借款人支付利息费用，separately from the principal amount of the note
  • The current portion of long-term debt
    • Current liability: the principal amount due within one year(or the operating cycle)
    • Long-term liability: the remainder of the obligation
  • Accrued Liabilities
    • 确认将在未来期间支付的费用
    • 例：interests payable,income taxes payable,and anumber of liabilities relating to payrolls.
    • Accured liabilities stem from the recording of expenses,the matching principle governs the timing of their recognition.
  • Payroll Liabilities
    • Payroll taxes and mandated cost 工资税和法定成本
    • Amounts withheld from employees'pay
      • 从员工工资中扣除的金额
    • Recording payroll activities
      • Gross wages earned by employees
      • Employer payroll taxes and other mandated costs
      • Other employee benefits paid by the employer
  • Unearned Revenue
    • The company：Debit Cash,Credit a liability account(such as Unearned Revenue or Customer's Deposits)
    • The customers: Debit the liability account,Credit a revenue account
• Long-Term Liabilities
  • Installment Notes Payable 分期付款应付票据
    • 企业通过发行一系列要求分期付款的长期票据为购置不动产和其他某些种类的设备融资
    • Amortization Table 摊销表
      • 用来确定每笔付款中代表利息费用的部分和减少负债本金额的部分
      • 分为 The original amount of the liability, the amount of periodic payments和the interest rate
        • Dr Interest Expense Installment Note Payable Cr Cash
        • The amount of interest expense decreases each month,because the unpaid balance is continually decreasing.
  • Bond Payable
    • 公司借助underwriter（承销商）的投资银行发行债券
    • 具有liquidity
    • Types of Bonds
      • Mortgage bonds/Debenture bonds
      • 有的债券是callable并支付特定的call price
      • 可转换债券 Convertible bonds
        • 可以根据债券持有人的选择换成特定数量股本
    • Junk Bonds
      • 包含远大于正常水平违约风险的债券但有substantially higher interest rate
  • Tax advantage of bond financing
    • Interest payments are deductible（可减免的） in determining income subject to corporate income taxes. Dividends paid to stockholders are not deductible in computing taxable income.
  • Accounting for bonds payable
    • Procedure
      • Issuance of the bonds
        • Dr Cash; Cr Bonds Payable;
      • semiannual interest payments
        • Dr Bond Interest Expense;Cr Cash;
      • accrual of interest payable at the end of each accounting period
        • Dr Bond Interest Expense;Bond Interest Payable;Cr Cash;
        • Dr Bond Interest Expense;Cr Bond Interst Payable;
      • retirement of the bonds at maturity
        • Dr Bonds Payable;Cr Cash;
        • Paid face amount of bonds at maturity.
    • Bonds issued between interest dates
      • eg: 五月发行，比interest date三月晚两个月（多了2个月的accrued interest) Dr Cash 1,010,000 Cr Bonds Payable 1,000,000 Bond Interest Payable 10,000 Issued $1,000,000 of 6%,20-year bonds at face value plus accrued interest for two months. 到了九月 Dr Bond Interest Payable 10,000 Bond Interest Expense 20,000 Cr Cash 30,000 Paid semiannual interest on $1,000,000 face value of 6% bonds. 对投资者而言，购买债券时付了2个月的accrued interest，持有债券4个月过后收到了6个月的利息。
      • 在上一个利息支付日后，债券的卖价等于市场报价加应计利息
  • Bonds issued at a discount or a premium 折价或溢价发行的债券
    • DISCOUNT
      • Dr Cash 970,000 Discount on Bonds Payable 30,000 Cr Bonds Payable 1,000,000 Issued 20-year bonds with $1,000,000 face value to an underwriter at a price of 97. At each interest payment date,an adjusting entry is made to transfer a portion of the Discount on Bonds Payable account into Interest Expense.
    • PREMIUM
      • Dr Cash 1,030,000 Cr Premium on Bonds Payable 30,000 Bonds Payable 1,000,000 Issued 20-year bonds with $1,000,000 face value to an underwriter at a price of 103.
  • The concept of present value
    • 未来现金收入的现值是理性投资者为了取得在未来收取款项的权利而在当前愿意付出的金额
    • If investors require an effective interest rate greater than the contract rate of interest,the bond will be sold by underwriters at a discount.
    • Fluctuations in interest rates have a far greater effect on the market prices of long-term bonds than on the prices of short-term bonds.
    • 债券市场价格的变动不会影响发行公司的财报和会计记录
  • Early retirement of bonds payable
    • 公司自己购买自己发行的债券
      • 如果以低于账面价值回收，则债务到期时实现收益Gain on Early Retirement of Bonds
      • 如果以高于账面价值回收，则借记Loss on Early Retirement of Bonds
• Estimated Liabilities,Loss Contingencies,and Commitments 预计负债，或有损失和承诺
  • Estimated Liabilities
    • the liabilities are known to exist
    • uncertainty不会阻碍公司合理估计并记录负债
  • Loss contingencies
    • a possible loss,源自past events，预期会在未来解决
    • 损失金额的不确定性，以及在某些情况下，是否实际发生了任何损失的不确定性
    • 与估计负债的差别：①或有损失有更大程度的不确定性，甚至不确定是否存在②或有损失不止涉及可能负债，还会涉及可能的资产减值
    • Loss contingencies in financial statements
      • Recorded in the accounting records的前提
        • ①It is probable that a loss has been incurred
        • ②The amount of loss can be reasonably estimated
      • 如果前提没达到，loss contingencies are disclosed if there is a reasonable possibility that a material loss has been incurred.
  • Commitments
    • 未来交易合同称作承诺。承诺不是负债，但如果material,就要在financial statements里面disclose
• Evaluating the Safety of Creditors' Claims
  • Interest Coverage Ratio=Operating Income/Interest Expense
    • 这一比率表明了对债权人的保护幅度，越高越好