chapter13Long-Term-Liabilities-西方-财务会计-电子课件VIP免费

CHAPTER13Long-TermLiabilitiesLong-TermLiabilitiesLONG-TERMLIABILITIES(cont.)Donotrequiretheuseoffundswithinoneyear(orthenextoperatingcycle,whicheverislonger)Usuallyarisefrommajorexpenditures,suchasacquisitionsofplantassets,thepurchaseofanothercompany,orrefinancinganexistinglong-termobligationthatisabouttomature.LONG-TERMLIABILITIESRelativelyfewinnumberbutinvolvelargedollaramounts.Examples:bonds,notes,equipmentpurchaseobligations,permanentcustomerdeposits,someobligationsunderpensionanddeferredcompensationplans,certaintypesofleaseobligations,deferredincometaxes,andsomedeferredrevenueitems.Long-termLiabilitiesMeasurementandValuationRecordlong-termliabilitiesatthefairvalueofthegoodsorservicesreceived.Interestexpenseisbasedonthemarketmarketinterestrateonthedateofthedebtissuanceandthebeginningbeginningbalanceoftheliability.Bookvalueisthepresentvaluepresentvalueofallfuturecashpayments,discountedatthemarketinterestrateatissuance.AdvantagesofIssuingBondsAprincipaladvantagetoincometaxes.(page234)increaseacompany’srateofreturnonequity.(page235)TypesofBonds(Cont.)(P.235)Termbonds(sinkingfundbonds):Bondsthatmatureinonelumpsumonaspecifiedfuturedate.Serialbonds:Bondsthatmatureinaseriesofinstallmentsatfuturedates.TypesofBonds(P.236)•Registeredbonds:keepsarecordofthenamesandaddressesofallbondholdersandpaysinterestonlytothoseindividualswhosenamesareonfile.•Bearer(coupon)bonds:Unregisteredbonds.paysinteresttoanyonewhocanshowevidenceofownership.TypesofBonds(Cont.)(P.236)Securedbonds(Collateraltrustbonds):Bondsusuallysecuredbystocksandbondsofothercorporationsownedbytheissuingcompany.Unsecured(debenture)bonds:Bondsforwhichnospecificcollateralhasbeenpledged.TypesofBonds(Cont.)(P.235)Convertiblebonds:Bondsthatcanbeconvertedtoothersecuritiesattheoptionofthebondholder.Fargo,Inc.Paidtothebearerofthisbond$10,000at8percentannuallyonJanuary1andJuly1.$10,000TypesofBonds(Cont.)(P.235)Junkbonds:High-risk,high-yieldbondsissuedbycompaniesthatareheavilyindebtorweakfinancially.Inthischapter,wewilldiscussthetermbonds.AccountingforbondspayableIssueofbondsSemiannualinterestpaymentAdjustingforinterestexpenseRetirementofbondsatmaturityBondissuedatfaceamountTheentry:Cash100000Bondspayable10000Page239~240Fargo,Inc.Paidtothebearerofthisbond$10,000at8percentannuallyonJanuary1andJuly1.$10,000BondissuedatpremiumordiscountBondPricesatissuancedatedependsontherelationshipbetweentheeffectiveinterestrateandthecouponrate.effectiveinterestratesometimesiscalledyieldormarketrate.couponratesometimesiscalledstatedrate.BondPricesMarketrate=statedrateBondssellatfaceatfaceorparvalue.Marketrate>statedrateBondssellatadiscountdiscount(belowfacevalue).Marketrate