1、Cash and ReceivablesChapter 2Learning Objects Understand and grasp the internal controls of Cash and Bank Grasp how to make Bank Reconciliations（銀行調節表） Master the methods of dealing with the Doubtful Accounts （呆賬，可疑賬款） Master how to record assignment of Receivables（應收賬款轉讓）Cash and Receivables What i

2、s cash? Management and control of cash Accounting for cash Reporting cash Summary of cash-related itemsCashReceivables Recognition of accounts receivable Valuation of accounts receivable Recognition of notes receivable（應收票據） Valuation of notes receivable Disposition of accounts and notes receivable（

3、處置處置） Cash 現金概念、特征、類型、使用范圍現金的管理與內部控制現金及銀行存款的核算現金的報告（報表）現金盤點與銀行存款余額調節表 Receivables 應收款項應收款項概念、分類應收款項的確認與計量應收款項的核算應收賬款計提壞賬準備應收款項的報告Cash and Receivables Cash is the most liquid asset owned by a firm. As a result it is most susceptible to theft, and thus internal control over cash is important.它是企業流動性最強

4、的一項資產。 Characteristics The standard medium of exchange （支付中介） Basis for measuring and accounting for all items（計量基礎） Current asset（流動資產）CashCash contents Cash in hand, cash in bank, other monetary funds Coin 硬幣, currency Available funds on deposit at the bank(可動用的銀行存款) Negotiable instruments（可流通的票據）

5、 Money orders (匯票，郵政匯票)、 certified checks (承兌支票，保付支票)、 cashiers checks (銀行本票)、 personal checks (個人支票）、 bank drafts (銀行匯票) 、Saving accounts（定期存款）Cash contents other monetary assets（我國的其他貨幣資金我國的其他貨幣資金） 外埠存款cash in other cities 銀行本票 cashiers check 銀行匯票 bank draft 信用卡 credit cards 信用證保證金 L/C deposit 存出投

6、資款 cash for investment How to manage and control cash? Internal control. as defined in accounting and auditing(審計), is a process for assuring achievement of an organizations objectives in operational effectiveness and efficiency（經營效率和效果）, reliable financial reporting, and compliance with laws, regul

7、ations and policies. A broad concept, internal control involves everything that controls risks to an organization.How to manage and control cash? It is a means by which an organizations resources are directed, monitored, and measured. It plays an important role in detecting and preventing fraud（查錯防弊

8、）（查錯防弊） and protecting the organizations resources, both physical（實物） (e.g., machinery and property) and intangible（無形） (e.g., reputation聲譽 or intellectual property智力財產 such as trademarks商標權).Internal controls 內部控制制度是企業重要的內部管理制度，是一個單位為了保護其資產的安全完整，保證其經營活動符合國家法律、法規和內部規章要求，提高經營管理效率，防止舞弊，控制風險等目的，而在單位內部采

9、取的一系列相互聯系、相互制約的制度和方法。 COSO委員會【1992年美國國會的“反對虛假財務報告委員會”（NCFR）下屬的由AAA、AICPA、IIA、FEI和IMA等專業團體組織參與的“發起組織委員會（COSO）”】，1992年發布內部控制基本框架（簡稱COSO報告）。 財政部 證監會 審計署 銀監會 保監會2008年印發企業內部控制基本規范，2010年發布企業內部控制配套指引，包括18項應用指引、1項評價指引和1項審計指引。Internal controls COSO defines internal control as having five components: Control

10、Environment 控制環境 Risk Assessment 風險評估 Information and Communication 信息與溝通 Control Activities 控制活動 Monitoring 監控，監督Internal controls for cash 貨幣資金的內部控制制度是企業最重要的內部控制制度。貨幣資金的內部控制制度是企業最重要的內部控制制度。 1.錢賬分管制度。企業應配備專職的出納員，辦理庫存現金收付和結算業務、登記庫存現金和銀行存款日記賬、保管庫存現金和各種有價證券、保管好有關印章、空白收據和空白支票;出納員不得兼管稽核、會計檔案保管和收入、費用、債權債

11、務賬目的登記工作。 2.現金開支審批制度。(1)明確企業庫存現金開支范圍;(2)明確各種報銷憑證，規定各種庫存現金支付業務的報銷手續和辦法;(3)確定各種現金支出的審批權限Internal controls for cash 3.庫存現金日清月結制度。日清是指出納員應對當日的庫存現金收付業務全部登記庫存現金日記賬，結出賬面余額，并與庫存現金核對相符;月結是指出納員必須對庫存現金日記賬按月結賬;并定期進行庫存現金清查。 4.庫存現金保管制度。(1)超過庫存限額以外的庫存現金應在下班前送存銀行;(2)除工作時間需要的小量備用金可存在出納員的抽屜內，其余應放入保險柜內，不得隨意存放;(3)限額內的庫

12、存現金當日核對清楚后，一律放入保險柜內，不得放在辦公桌內過夜;(4)單位的庫存現金不準以個人名義存入銀行;(5)庫存的紙幣和鑄幣，應實行分類保管。Accounting for cash Cash in hand 現金的核算 現金增加：產品零售，取得現金收入200元借：現金 234 （debt) 貸：主營業務收入 200 (credit) 應繳稅費增值稅（銷項稅額） 34 從銀行取現從銀行取現20002000元。元。 借：現金借：現金 20002000 貸：銀行存款貸：銀行存款 20002000 Accounting for cash 現金減少 購買辦公用品 230元。 借：管理費用 230 貸

13、：現金 230 出差借款 900元 借：其他應收款 900 貸：現金 900Accounting for cash 銀行存款增加銀行存款增加 投資者投入投資者投入2020萬元，存入銀行。萬元，存入銀行。 借：銀行存款借：銀行存款 200,000200,000 貸：實收資本貸：實收資本 200,000200,000 銀行存款減少銀行存款減少 繳納稅金繳納稅金50005000元元 借：應繳稅費借：應繳稅費 50005000 貸：銀行存款貸：銀行存款 50005000 購入材料購入材料 1000010000元，稅金元，稅金17001700元，存款支付。元，存款支付。 借：原材料借：原材料 10000

14、10000 應繳稅費應繳稅費增值稅（進項稅額）增值稅（進項稅額）17001700 貸：銀行存款貸：銀行存款 1170011700Accounting for cash 其他貨幣資金增加：其他貨幣資金增加： 借：其他貨幣資金借：其他貨幣資金 貸：銀行存款等貸：銀行存款等 其他貨幣資金減少：其他貨幣資金減少： 借：原材料、應付賬款等借：原材料、應付賬款等 貸：其他貨幣資金貸：其他貨幣資金Reporting Cash 資產負債表：貨幣資金（現金、銀行存款、其他資產負債表：貨幣資金（現金、銀行存款、其他貨幣資金）貨幣資金） 現金流量表：經營活動現金流量、投資活動現金現金流量表：經營活動現金流量、投資活

15、動現金流量、籌資活動現金流量（流入流量、籌資活動現金流量（流入- -流出）流出）Reporting Cash Reporting Reporting as“ cash and cash equivalents （現金和現金等價物）”separately if it will be disbursed（支付） within one year or the operating cycle, whichever is longer. Reporting Cash Cash equivalents Short-term, highly liquid investments that are both

16、readily convertible to cash（易于轉換為現金）, and so near their maturity that they present insignificant risk （風險較小）of changes in value. Example: Treasury bills (國庫券), Commercial paper（商業票據）, and Money market funds（貨幣基金）.Cash counting 現金的清查：通過“待處理財產損溢”賬戶核算。 1.審批前調賬盤盈：增加待處理溢余，調增賬面記錄盤虧：增加待處理虧損，調減賬面記錄 2.審批后減少待

17、處理 盤盈：屬于應付的，應增加一項負債(其他應付款);屬于無法查明原因的，應作為營業外收入。 盤虧：屬于應收，應增加一項債權(其他應收款);屬于定額內損耗和管理原因，應作為管理費用;屬于無法查明原因的，應作為管理費用。Cash counting 庫存現金清查中，發現實存數大于賬面余額l00元。 借：庫存現金 100 貸：待處理財產損溢 100屬于應支付給其他單位 借：待處理財產損溢 100 貸：其他應付款單位100如果核查后原因不明，經批準作為營業外收入： 借：待處理財產損溢 100 貸：營業外收入 100Cash counting 庫存現金清查中，發現現金短缺80元，借：待處理財產損溢80

18、貸：庫存現金80 如果屬于出納人員的責任，應由出納人員賠償：借：其他應收款出納員80 貸：待處理財產損溢80 當出納人員交回賠款時：借：庫存現金80 貸：其他應收款出納員80 如果屬于無法查明原因的，應作為管理費用處理：借：管理費用80 貸：待處理財產損溢80Cash balance from bank statement $7,218Cash balance from company records $6,925Bank ReconciliationBank Reconciliations Bank reconciliations（銀行存款余額調節表） are prepared and re

19、viewed on a regular basis to ensure that: Errors in the cash account are detected All cash transactions are recorded (e.g. adjustments such as bank service charges) Bank and book balances agree（銀行賬戶余額與實際保持一致）Bank Reconciliations The reconciliation of bank and book balances is to corrected cash balan

20、ce. The corrected cash balance is the amount that should be shown on the balance sheet at the reconciliation date. Bank Reconciliations Two accounts balance rarely agree at any one point in time due to Deposits in transit（在途資金） Outstanding cheque (未付支票，轉賬支票) Bank charges （銀行手續費） Bank Credits (往來賬戶)

21、Collections or deposits in the companys account that the company is not aware of until receipt of the bank statement. Bank or depositor errors The items in red will require adjustment (for errors only if the error is the depositors error)Bank ReconciliationsBank reconciliation 銀行對賬單余額 $ 加: 企業已收銀行未收

22、減: 企業已付銀行未付 調節后的余額 $ 銀行存款余額 $ 加: 銀行已收企業未收 減: 銀行已付企業未付 調節后余額 $Bank Reconciliation - ExampleBank Reconciliation - SolutionBank Reconciliation - SolutionBank Reconciliation - SolutionSlide 6-32 Monthly adjusting journal entries required:ReceivablesWritten promises to pay a sum of money on a specified f

23、uture date.Claims held against customers and others for money, goods, or services.Oral promises of the purchaser to pay for goods and services sold.Trade receivableReceivables Classification Trade Receivables 在商品銷售環節發生的賒銷款項在商品銷售環節發生的賒銷款項。 Accounts receivable應收賬款, Notes receivable應收票據、 Prepayments預付賬

24、款 Nontrade Receivables：Other receivables 其他應收款 應收長期資產（投資）銷售款應收長期資產（投資）銷售款 預付給內部員工或分支公司的款項預付給內部員工或分支公司的款項 其他單位存入公司的保證金或押金其他單位存入公司的保證金或押金 應收的股利或利息應收的股利或利息 索取權索取權Recognition of receivables 應收款項的確認：應收款項泛指企業擁有的將來獲取現款、商品或勞動的權利。它是企業在日常生產經營過程中發生的各種債權，是企業重要的流動資產。 應收賬款的確認重要是解決何時確認應收賬款。 應收賬款是與商品的銷售或勞務的提供直接相關的，

25、因此確認應收賬款的時間通常應與確認收入的時間相一致。 也就是說，在商品的所有權已經轉給購貨方，或勞務已經提供、收入已經實現時，對未取的款項確認為應收賬款。Measuring Receivables In most receivable transactions, the amount to be recognized is the exchange price between two parties to a sales transaction. Exchange price ：the amount due from the debtor It is generally indicted on

26、 a business document (invoice) Considering two factors while measuring The available discounts Trade discounts（商業折扣） Cash or sale discounts（現金折扣） The length of time between the sale and the payment due date (time value)Measuring Receivables Trade discounts（商業折扣） To quote different prices for differe

27、nt quantities purchased. For Increase sales（增加銷售） Treatment Reductions from the list price（在會計處理中直接從總價中扣減） Customers are billed net of discounts10 % Discount for new Retail Store Customers Cash (sales) discounts （現金折扣） Inducements for prompt payment (敦促購貨方早付款而給予的折扣) Increase likelihood of collection

28、 （增加賬款回收的可能性）Method of recording Gross Method（總價法） Net Method （凈價法） Payment terms are 2/10, n/30Measuring ReceivablesCash Discounts Gross method Records sale at the full amount; assumes no discount will be taken until it actually is. Accounts Receivable 1,000 Sales1,000 Assume paid within 10 days: C

29、ash (98%$1,000) 980 Sales discounts 20 Accounts Receivable 1,000Sales 5,000Accounts receivable 5,000June 3Cash ($5,000 x 98%)4,900Sales discounts 100 Accounts receivable 5,000June 12Gross MethodCash Discounts Gross method Sales discount net method Record net of the possible discount; assumes custome

30、r will take advantage of the discount Accounts Receivable980 Sales 980 Assume not paid within 10 days:Cash 1,000 Sales discounts forfeited 20 Accounts Receivable980Sales 4,900Accounts receivable 4,900June 3Accounts receivable 4,900Cash 5,000June 29Sales discounts forfeited 100Net MethodCash Discount

31、s Net method Sales 4,900Accounts receivable 4,900June 3Accounts receivable 4,900Cash 4,900June 12Net MethodCash Discounts Net method Estimated Bad Debts MethodBad debts can be estimated based on sales or on accounts receivable.Uncollectible Accounts Receivable Allowance MethodLosses are Estimated:Pe

32、rcentage-of-salesPercentage-of-receivablesMethods of Accounting for Uncollectible AccountsTheoretically undesirable:lno matchingreceivable not stated at net realizable value 直接轉銷法在壞賬發生時直接沖減應收賬款的賬面余額。 Although generally not in accordance with GAAP, companies in their first year of operations who have

33、 no basis for estimating uncollectible accounts, and for whom uncollectible accounts are immaterial, may write off bad debts directly, as follows: Dr Bad debt expenseXX Cr Accounts Receivable XXDirect write-off method 備抵法利潤表法銷售百分比法 Bad debt expense estimate is related to a nominal account (Credit Sa

34、les), any balance in the allowance account is ignored. Therefore, the method achieves a proper matching of cost and revenues. 資產負債表法應收賬款百分比法 Estimating of expected uncollectible accounts based upon outstanding receivables. Results in a more accurate valuation of receivables on the balance sheet. Met

35、hod may also be applied using an aging schedule(賬齡分析法)Allowance for Doubtful AccountsIncome Statement ApproachBalance Sheet ApproachMatchingSales - Bad Debt ExpenseNet Realizable ValueReceivables - Allowance for Bad DebtAllowance for Doubtful Accounts “壞賬準備- AFDA” We provide for potentially uncollec

36、tible accounts through the allowance for doubtful accounts, which is a contra account to Accounts Receivable. We do not Credit accounts receivable directly because at the time we estimate bad debt expense we do not necessarily know which specific customer accounts will prove to be uncollectible.Allo

37、wance for Doubtful AccountsCredit sales $500,000Estimated % of credit sales not collected 1.25% Accounts receivable balance $72,500Estimated % of A/R not collected 8%Allowance for Doubtful Accounts:Case 1$150 (credit balance)Case 2$150 (debit balance)Allowance for Doubtful Accounts Charge sales$500,

38、000Estimated percentagex 1.25%Estimated expense$ 6,250=What should the ending balance be for the allowance account? - Case 1 and Case 2Percentage of Sales MethodPercentage of SalesActual balance (credit) (150)150Adjustment(6,250)(6,250)Ending balance(6,400)(6,100)Journal entry:Allowance for doubtful

39、 accounts 6,250Bad debt expense 6,250Case 1Case 2Accounts receivable$ 72,500Estimated percentagex 8%Desired balance$ 5,800=What should the ending balance be for the allowance account? - Case 1 and Case 2Percentage of ReceivablesActual balance (credit)(150)150Adjustment (5,650)(5,950)Desired balance(

40、5,800)(5,800)Journal entry Case 1:Allowance for doubtful accounts 5,650Bad debt expense 5,650Case 1Case 2Percentage of ReceivablesActual balance (credit)(150)150Adjustment (5,650)(5,950)Desired balance(5,800)(5,800)Case 1Case 2Percentage of ReceivablesJournal entry Case 2:Allowance for doubtful acco

41、unts 5,950Bad debt expense 5,950Percentage of Receivables-Aging scheduleAssetsCurrent Assets:Cash $ 346Accounts receivable 500 Less allowance for doubtful accounts 25 475Inventory 812Prepaids _ 40Total current assets 1,673Fixed Assets:Office equipment 5,679Furniture & fixtures 6,600Less: Accumul

42、ated depreciation (3,735)Total fixed assets 8,544 Total Assets $10,217 AssetsCurrent Assets:Cash $ 346Accounts receivable, net of $25 allowancefor doubtful accounts 475Inventory 812Prepaids _ 40Total current assets 1,673Fixed Assets:Office equipment 5,679Furniture & fixtures 6,600Less: Accumulat

43、ed depreciation (3,735)Total fixed assets 8,544 Total Assets $10,217 Write-offs and Recoveries At some point, we become certain that individual accounts will never be paid. At this point, we write off these accounts To write of a $500 account: Dr Allowance for doubtful accounts 500 Cr Accounts Recei

44、vable (specific customer) 500Write-offs and Recoveries Occasionally, accounts that had been written off are subsequently collected. We then reverse the write-off and record the collection. Comprehensive Example Balance Sheet Approach Comprehensive Example Balance Sheet Approach We now need to adjust

45、 by the amount that produces the required ending balance of $42,000: Bad debt expense30,000 AFDA 30,000Comprehensive Example Balance Sheet Approach A note receivable is an unconditional written agreement to collect a certain sum of money on a specific date.Notes ReceivableNotes Receivable Notes Rece

46、ivable Supported by a formal promissory note, which is a written promise to pay a specific sum of money at a specific future date. Characteristics A negotiable instrument（可轉讓票據） Maker signs in favor of a Payee Always contain an interest element Interest-bearing (has a stated rate of interest) OR Noninterest-bearing (interest included in face amount)Notes Receivable Generally originate from Lending transactions (the majority