ch05-2010原书第五版~PPT~!.pptVIP

Chapter 5 ACCOUNTING FOR MERCHANDISING OPERATIONS 商业企业会计 Study Objectives Identify the differences between a service enterprise and a merchandising company Explain the entries for purchases under a perpetual inventory system. Explain the entries for sales revenues under a perpetual inventory system Study Objectives Explain the steps in the accounting cycle for a merchandiser Distinguish between multiple-step and single-step income statement Explain the computation and importance of gross profit. MERCHANDISING COMPANY商业公司 A merchandising company is an enterprise that buys and sells goods to earn a profit Wholesalers批发商 sell to retailers零售商 Retailers sell to consumers消费者 A merchandiser’s primary source of revenue is sales销售 MEASURING NET INCOME Expenses for a merchandising company are divided into two groups: cost of goods sold 销售商品成本 operating expenses 经营费用 MEASURING NET INCOME Cost of goods sold is the total cost of merchandise sold during the period Operating expenses are expenses incurred in the process of earning sales revenue. Examples are sales salaries and insurance expense. MEASURING NET INCOME Gross profit毛利 is equal to sales revenue less cost of goods sold. Net income = gross profit － operating expenses INVENTORY SYSTEMS存货系统 Merchandising entities may use either of the following inventory systems: Perpetual 永续制: Detailed records of the cost of each item are maintained, and the cost of each item sold is determined from records when the sale occurs Now super markets use this system ! INVENTORY SYSTEMS存货系统 Periodic盘存制: Cost of goods sold is determined only at the end of an accounting period. Generally small shops use this system ! COST OF INVENTORY存货成本 Under the periodic method, cost of inventory on hand is determined from a physical inventory requiring: Counting the units on hand for each inventory item Applying unit costs to the total units on hand for each inventory item Aggregating the cost of each item of inventory to determine total cost of goods