TAILIEUCHUNG - Lecture Intermediate accounting (Volume 1, IFRS edition): Chapter 7 - Kieso, Weygandt, Warfield

Chapter - Cash and receivables. After completing this chapter you should be able to: Identify items considered cash, indicate how to report cash and related items, define receivables and identify the different types of receivables, explain accounting issues related to recognition of accounts receivable, explain accounting issues related to valuation of accounts other contents. | C H A P T E R 7 CASH AND RECEIVABLES Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield Identify items considered cash. Indicate how to report cash and related items. Define receivables and identify the different types of receivables. Explain accounting issues related to recognition of accounts receivable. Explain accounting issues related to valuation of accounts receivable. Explain accounting issues related to recognition of notes receivable. Explain accounting issues related to valuation of notes receivable. Understand special topics related to receivables. Describe how to report and analyze receivables. Learning Objectives Recognition Valuation Impairment evaluation process Cash Accounts Receivable Notes Receivable Special Issues What is cash? Reporting cash Summary of cash-related items Recognition Valuation Fair value option Derecognition of receivables Presentation and analysis Cash and Receivables A financial asset—also a financial instrument. Financial Instrument - Any contract that gives rise to a financial asset of one entity and a financial liability or equity interest of another entity. Cash LO 1 Identify items considered cash. What is Cash? Illustration 7-1 Types of Assets Most liquid asset. Standard medium of exchange. Basis for measuring and accounting for all other items. Current asset. Cash LO 1 Identify items considered cash. What is Cash? Examples: coin, currency, available funds on deposit at the bank, money orders, certified checks, cashier’s checks, personal checks, bank drafts and savings accounts. Short-term, highly liquid investments that are both Cash LO 2 Indicate how to report cash and related items. Reporting Cash readily convertible to cash, and so near their maturity that they present insignificant risk of changes in interest rates. Examples: Treasury bills, commercial paper, and money market funds. Cash Equivalents When material in amount: Segregate restricted cash from “regular” cash. Current assets or non-current .

• Kế toán - Kiểm toán
• Intermediate accounting
• Lecture Intermediate accounting
• Accounts receivable
• Notes receivable
• Special issues
• Financial Accounting
• Accounting process
• Accounting equation
• Accounting processing cycle
• Stock issuance
• Estimating reserves
• Liquidating dividends
• Accounting changes
• Error corrections
• Accounting choices
• Theoretical structure
• Accrual accounting
• Financial accounting environment
• Accounting for leases
• Leasing environment
• Accounting by lessee
• Special accounting problems
• Cash versus accrual accounting
• International standard setting
• Accounting standards
• Accounting assists
• The challenges facing accounting
• Income taxes
• Accounting for income taxes
• Deferred tax liabilities
• Error analysis
• Accounting policy
• Accounting estimate
• Accounting policies
• Financial reporting
• Accounting information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process