tailieunhanh - Lecture Financial and managerial accounting (2nd Edition): Chapter 8 - Weygandt, Kimmel, Kieso

Chapter 8 - Accounting for receivables. This chapter’s objectives are to: Identify the types of receivables and record accounts receivable transactions, account for bad debts, account for notes receivable, explain the statement presentation of receivables, apply the principles of sound accounts receivable management. | Accounting for Receivables 8 Learning Objectives Explain how companies recognize accounts receivable. Describe how companies value accounts receivable and record their disposition. Explain how companies recognize notes receivable. 3 Describe how companies value notes receivable, record their disposition, and present and analyze receivables. 2 1 4 Amounts due from individuals and other companies that are expected to be collected in cash. Amounts owed by customers on account that result from the sale of goods and services. Accounts Receivable Written promise for amounts to be received. Normally requires the collection of interest. Nontrade receivables such as interest, loans to officers, advances to employees, and income taxes. Notes Receivable Other Receivables LO 1 LEARNING OBJECTIVE Explain how companies recognize accounts receivable. 1 Amounts due from individuals and other companies that are expected to be collected in cash. Types of Receivables Illustration 8-1 Receivables as a percentage of assets LO 1 Three accounting issues: Recognizing accounts receivable. Valuing accounts receivable. Disposing of accounts receivable. Service organization records a receivable when it performs service on account. Merchandiser records accounts receivable at the point of sale of merchandise on account. Recognizing Accounts Receivable Types of Receivables LO 1 Illustration: Assume that Jordache Co. on July 1, 2017, sells merchandise on account to Polo Company for $1,000 terms 2/10, n/30. Prepare the journal entry to record this transaction on the books of Jordache Co. Accounts Receivable 1,000 Jul. 1 Sales Revenue 1,000 Recognizing Accounts Receivables LO 1 Illustration: On July 5, Polo returns merchandise worth $100 to Jordache Co. Sales Returns and Allowances 100 Jul. 5 Accounts Receivable 100 Illustration: On July 11, Jordache receives payment from Polo Company for the balance due. Cash 882 Jul. 11 Sales Discounts ($900 x .02) 18 Accounts Receivable 900 Recognizing Accounts | Accounting for Receivables 8 Learning Objectives Explain how companies recognize accounts receivable. Describe how companies value accounts receivable and record their disposition. Explain how companies recognize notes receivable. 3 Describe how companies value notes receivable, record their disposition, and present and analyze receivables. 2 1 4 Amounts due from individuals and other companies that are expected to be collected in cash. Amounts owed by customers on account that result from the sale of goods and services. Accounts Receivable Written promise for amounts to be received. Normally requires the collection of interest. Nontrade receivables such as interest, loans to officers, advances to employees, and income taxes. Notes Receivable Other Receivables LO 1 LEARNING OBJECTIVE Explain how companies recognize accounts receivable. 1 Amounts due from individuals and other companies that are expected to be collected in cash. Types of Receivables Illustration 8-1 Receivables as a .

• Kế toán - Kiểm toán
• Managerial accounting
• Financial and managerial accounting
• Accounting for receivables
• Analyzing receivables
• Accounts receivable
• Managerial accounting for managers
• Lecture Managerial accounting
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Financial statement
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Financial accounting
• Dynamic business environment
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost