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1、外文翻译AccountsReceivableFromAUser’sPerspectiveMaterialSource:FinancialAccountinginanEconomicContextAuthor:JamieJ.PrattWhenaccountingforshort-termreceivables,twogeneralquestionsareofsignificanteconomicimportance:(1)Whenshouldareceivableberecordedinthebooks?(2)Atwhatdollaramountshouldare
2、ceivablebevaluedonthebalancesheet?WhenShouldaReceivableBeRecorded?Revenuesandrelatedreceivablesarerecognizedwhenthefourcriteriaofrevenuerecognitionhavebeenmet.Establishingexactlywhenthisoccurs,however,isdifficultandsubjective,becausemanagershavefreedomtodeterminewhenandhowasaleandthe
3、associatedreceivablesarerecorded.Thisfreedomgivesrisetowidelydifferentpractices.Forexample,GeneralElectricrecognizesrevenueswhengoodsareshipped,whileHarperCollins,alargebookpublisher,recognizesrevenueswhenitinvoicescustomers,sometimesamonthbeforeordersareshipped.Revenuerecognitionpra
4、cticesevendifferamongcompaniesinthesameindustry.Asurveyof200softwarecompanies,forexample,revealedthattwenty-six(13percent)companieswaiteduntilcashwasreceivedbeforerecognizingasale,whilethirty(15percent)companiesrecognizedasaleassoonasanorderwasreceived.Usersoffinancialstatementsmustr
5、ealizethat,evenwithintheguidelinesofgenerallyacceptedaccountingprinciples,managerscanusediscretiontospeeduporslowdowntherecognitionofrevenue.Thisconcernisparticularlyimportantfortransactionsthatoccurneartheendofanaccountingperiod.RecognizingareceivableandarevenueonDecember30insteadof
6、January2,forexample,cansignificantlyaffectcurrentassets,workingcapital,andnetincomeontheDecember31financialstatements.Toillustrate,supposethatcurrentassets,currentliabilities,andnetincomeforJohnsonandSonsasofDecember29are$45,000,$34,000,and$14,000,respectively.JohnsonandSonsprovidesa
7、servicetoAceManufacturingthatisbilledat$20,000.TheserviceisorderedbyAceonDecember30andcompletedbyJohnsonandSonsonJanuary5.PaymentismadebyAceafterJanuary5.Thecurrentratio,workingcapitalposition,andnetincomeasofDecember31forJohnsonandSonsarecomputedinFigure6-12,assumingthat(1)therevenu
8、eisrecognize
