TAILIEUCHUNG - Lecture Intermediate accounting (16th edition): Chapter 14 - Kieso, Weygandt, Warfield

Chapter 14 - Long-term liabilities. In this chapter, the learning objectives are: Describe the nature of bonds and indicate the accounting for bond issuances, describe the accounting for the extinguishment of debt, explain the accounting for long-term notes payable,. | PREVIEW OF CHAPTER 14 Intermediate Accounting 16th Edition Kieso ● Weygandt ● Warfield Describe the nature of bonds and indicate the accounting for bond issuances. Describe the accounting for the extinguishment of debt. Explain the accounting for long-term notes payable. LEARNING OBJECTIVES Describe the accounting for the fair value option. Indicate how to present and analyze long-term debt. After studying this chapter, you should be able to: Long-Term Liabilities 14 LO 1 Long-term debt consists of probable future sacrifices of economic benefits arising from present obligations that are not payable within a year or the operating cycle of the company, whichever is longer. Examples: Bonds payable Long-term notes payable Mortgages payable Pension liabilities Lease liabilities Long-term debt has various covenants or restrictions. BONDS PAYABLE LO 1 Bond contract known as a bond indenture. Represents a promise to pay: sum of money at designated maturity date, plus periodic interest at a specified rate on the maturity amount (face value). Paper certificate, typically a $1,000 face value. Interest payments usually made semiannually. Used when the amount of capital needed is too large for one lender to supply. BONDS PAYABLE Issuing Bonds LO 1 Common types found in practice: Secured and Unsecured (debenture) bonds. Term, Serial, and Callable bonds. Convertible, Commodity-Backed, Deep-Discount bonds. Registered and Bearer (Coupon) bonds. Income and Revenue bonds. Types of Bonds BONDS PAYABLE LO 1 Types of Bonds Corporate bond listing. Company Name Interest rate paid as a % of par value Price as a % of par Interest rate based on price Face and maturity value Maturity date LO 1 Valuation and Accounting for Bonds Payable Issuance and marketing of bonds to the public: Usually takes weeks or months. Issuing company must Arrange for underwriters. Obtain SEC approval of the bond issue, undergo audits, and issue a prospectus. Have bond certificates printed. LO 1 Selling price of a .

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• Intermediate accounting
• Lecture Intermediate accounting
• Long term liabilities
• Bonds payable
• Accounting for bonds
• Effective interest method
• 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