上财CGA班中级财务会计FA2+PS1课件Ch07_IFRS.ppt

Cash Cash Cash Cash Cash Cash Accounts Receivable Written promises to pay a sum of money on a specified future date. Accounts Receivable Accounts Receivable Accounts Receivable Trade Discounts Reductions from the list price Not recognized in the accounting records Customers are billed net of discounts Accounts Receivable Cash Discounts (Sales Discounts) Inducements for prompt payment Gross Method vs. Net Method Accounts Receivable Accounts Receivable Accounts Receivable Accounts Receivable Accounts Receivable Accounts Receivable How are these accounts presented on the Statement of Financial Position? Accounts Receivable Accounts Receivable Accounts Receivable Journal entry for credit sale of $100? Accounts receivable 100 Sales 100 Accounts Receivable Journal entry for credit sale of $100? Accounts receivable 100 Sales 100 Accounts Receivable Collected of $333 on account? Cash 333 Accounts receivable 333 Accounts Receivable Collected of $333 on account? Cash 333 Accounts receivable 333 Accounts Receivable Adjustment of $15 for estimated Bad-Debts? Bad debt expense 15 Allowance for Doubtful Accounts 15 Accounts Receivable Adjustment of $15 for estimated Bad-Debts? Bad debt expense 15 Allowance for Doubtful Accounts 15 Accounts Receivable Write-off of uncollectible accounts for $10? Allowance for Doubtful accounts 10 Accounts receivable 10 Accounts Receivable Write-off of uncollectible accounts for $10? Allowance for Doubtful accounts 10 Accounts receivable 10 Accounts Receivable Accounts Receivable Valuation of Accounts Receivable Valuation of Accounts Receivable Allowance Method Losses are Estimated: Percentage-of-sales Percentage-of-receivables IFRS requires when material in amount Uncollectible Accounts Receivable Uncollectible Accounts Receivable Uncollectible Accounts Receivable Uncollectible Accounts Receivable Uncollectible Accounts Receivable Uncollectible Accounts Receivable Uncollectible