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ID:7290951
大小:2.44 MB
页数:102页
时间:2018-02-10
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1、FINANCIAL2Matching(Revenue&Expenses),PartnershipsandForeignCurrencyAccounting1.Timingissues:Matchingofrevenueandexpenses,correctingandadjustingaccounts32.long-termconstructioncontracts.",283.Accountingforinstallmentsales334.Accountingfornonmonetaryexchanges365.Partnerships
2、426.Financialreportingandchangingprices"537.Foreigncurrencyaccounting568.Otherfinancialstatementpresentations649.Appendix:TheCodification6910.Appendix:IFRSvs.U.s.GAAP9311.Classquestions95Financial2BeckerProfessionalEducationICPAExamReviewNOTESF2-2{)201ODeVlY/BeckerEducatio
3、nalDevelopmentCorp.Allrightsreserved.BeckerProfessionalEducationICPA[Xi11nRt"jic'/Financial2TIMINGISSUESMatchingofRevenueandExpenses,CorrectingandAdjustingAccountsI.TERMINOLOGYANDBASICCONCEPTSA.AssetsAssetsareprobablefutureeconomicbenefitsthatareobtainedorcontrolledbyapar
4、ticularentityasaresultofpasteventsortransactions.1.EventAneventissomethingthathappenstoanentity,anditcanoccureitherexternallyorinternally.2.TransactionAtransactionisaneventthatoccursexternaltotheentityandtypicallyinvolvesatransferofvaluefromoneentity(orentities)toanother.B
5、.LiabilitiesLiabilitiesareprobablefuturesacrificesofeconomicbenefitsthatanentityfacesforobligationstoprovideservicesortransferassetsduetopasteventsortransactions.C.RevenuesRevenuesareincreasesofassetsorreductionsofliabilities(andpossiblyboth)duringaperiodoftime.Theystemfro
6、mtherenderingofservices,deliveringofgoods,oranyotheractivitiesthatmayconstitutethemajorongoingorcentraloperationsofanentity.1.RevenueRecognition(U.S.GAAP)a.RequirementsRevenueshouldberecognizedwhenitisrealized(orrealizable)andwhenitisearned.(1)Allfourcriteriamustbemetforea
7、chelementofthecontractbeforeanyrevenuecanberecognized:(a)Persuasiveevidenceofanarrangementexists;(b)Deliveryhasoccurredorserviceshavebeenrendered;(c)Thepriceisfixedanddeterminable;and(d)Collectionisreasonablyassured.(2)Revenuefromthesalesofproductsorthedisposalofotherasset
8、sisrecognizedonthedateofsaleoftheproductorotherasset(i.e.,thedeliverydate).Generally,thef
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