chapter13Long-Term-Liabilities-西方-财务会计-电子课件.ppt
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- chapter13Long Term Liabilities 西方 财务会计 电子 课件
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1、CHAPTER 13LONG-TERM LIABILITIES(cont.) Do not require the use of funds within one year(or the next operating cycle,whichever is longer) Usually arise from major expenditures, such as acquisitions of plant assets,the purchase of another company,or refinancing an existing long-term obligation that is
2、about to mature.LONG-TERM LIABILITIES Relatively few in number but involve large dollar amounts. Examples: bonds, notes, equipment purchase obligations, permanent customer deposits, some obligations under pension and deferred compensation plans, certain types of lease obligations, deferred income ta
3、xes, and some deferred revenue items.Long-term LiabilitiesMeasurement and ValuationRecord long-term liabilities at the fair value of the goods or services received.Interest expense is based on the interest rate on the date of the debt issuance and the balance of the liability.Book value is the of al
4、l future cash payments, discounted at the market interest rate at issuance.Advantages of Issuing Bonds A principal advantage to income taxes. (page234) increase a companys rate of return on equity. (page 235)Types of Bonds (Cont.)(P.235) Term bonds(sinking fund bonds): Bonds that mature in one lump
5、sum on a specified future date. Serial bonds: Bonds that mature in a series of installments at future dates.Types of Bonds(P.236) Registered bonds: keeps a record of the names and addresses of all bondholders and pays interest only to those individuals whose names are on file. Bearer (coupon) bonds:
6、 Unregistered bonds . pays interest to anyone who can show evidence of ownership. Types of Bonds (Cont.)(P.236) Secured bonds(Collateral trust bonds): Bonds usually secured by stocks and bonds of other corporations owned by the issuing company. Unsecured (debenture) bonds: Bonds for which no specifi
7、c collateral has been pledged.Types of Bonds (Cont.)(P.235) Convertible bonds: Bonds that can be converted to other securities at the option of the bondholder.Fargo, Inc.Paid to the bearer of this bond $10,000 at 8 percent annually on January 1 and July 1. $10,000 Types of Bonds (Cont.)(P.235)Junk b
8、onds :High-risk, high-yield bonds issued by companies that are heavily in debt or weak financially.In this chapter, we will discuss the term bonds.Accounting for bonds payable Issue of bonds Semiannual interest payment Adjusting for interest expense Retirement of bonds at maturityBond issued at face
9、 amount The entry: Cash 100 000 Bonds payable 10 000 Page 239240Fargo, Inc.Paid to the bearer of this bond $10,000 at 8 percent annually on January 1 and July 1. $10,000Bond issued at premium or discount Bond Prices at issuance date depends on the relationship between the effective interest rate and
10、 the coupon rate. effective interest rate sometimes is called yield or market rate. coupon rate sometimes is called stated rate.Bond Prices Market rate = stated ratelBonds sell or par value. Market rate stated ratelBonds sell at a (below face value). Market rate stated ratelBonds sell at a (above fa
11、ce value).% Yield Bond issued at premium or discount Example on page 238. The entry would be: (discount) Cash Discount on bonds payable Bonds payableBond issued at premium or discount Example on page 238. The entry would be: (premium) Cash Bonds payable Premium on bonds payablePremium and discount a
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