從財務會計使用者的角度看應收賬款【外文翻譯】

1、外文翻譯AccountsReceivableFromAUser’sPerspectiveMaterialSource:FinancialAccountinginanEconomicContextAuth:JamieJ.PrattWhenaccountingfshttermreceivablestwogeneralquestionsareofsignificanteconomicimptance:(1)Whenshouldareceiva

2、bleberecdedinthebooks(2)AtwhatdollaramountshouldareceivablebevaluedonthebalancesheetWhenShouldaReceivableBeRecdedRevenuesrelatedreceivablesarerecognizedwhenthefourcriteriaofrevenuerecognitionhavebeenmet.Establishingexact

3、lywhenthisoccurshoweverisdifficultsubjectivebecausemanagershavefreedomtodeterminewhenhowasaletheassociatedreceivablesarerecded.Thisfreedomgivesrisetowidelydifferentpractices.FexampleGeneralElectricrecognizesrevenueswheng

4、oodsareshippedwhileHarperCollinsalargebookpublisherrecognizesrevenueswhenitinvoicescustomerssometimesamonthbefedersareshipped.Revenuerecognitionpracticesevendifferamongcompaniesinthesameindustry.Asurveyof200softwarecompa

5、niesfexamplerevealedthattwentysix(13percent)companieswaiteduntilcashwasreceivedbeferecognizingasalewhilethirty(15percent)companiesrecognizedasaleassoonasanderwasreceived.Usersoffinancialstatementsmustrealizethatevenwithi

6、ntheguidelinesofgenerallyacceptedaccountingprinciplesmanagerscanusediscretiontospeedupslowdowntherecognitionofrevenue.Thisconcernisparticularlyimptantftransactionsthatoccurneartheendofanaccountingperiod.Recognizingarecei

7、vablearevenueonDecember30insteadofJanuary2fexamplecansignificantlyaffectcurrentassetswkingcapitalincomeontheDecember31financialstatements.ToillustratesupposethatcurrentassetscurrentliabilitiesincomefJohnsonSonsasofDecemb

8、er29are$45000$34000$14000respectively.JohnsonSonsprovidesaservicetoAceManufacturingthatisbilledat$20000.TheserviceisderedbyAceonDecember30completedbyJohnsonSonsonJanuary5.PaymentismadebyAceafterJanuary5.Thecurrentratiowk

9、ingcapitalpositionincomeasofDecember31fproducedanumberofboxofficehits.Inallthreecasesaggressivemanagementunderintensepressuretoperfmeitherfabricatedsalesusedquestionableaccountingpracticestoacceleratetherecognitionofreve

10、nuesinaneffttoincreasereptedprofitsimprovesolvencymeasuresWhiletheseuhicalbehavismayhavedelayedobscuredthecompanies’financialproblemstheycertainlydidlittletosolvetheminmostcasesmademattersmuchwse.Aspecialproblemhasarisen

11、inthewldoftheInter.GiventhatInterstartupcompaniesarenowroutinelyvaluedontheirrevenues—sincemostgeneratelosses—theSEChasgrownwriedthatsomecompaniesareoverstatingtheirrevenues.Whendotcomcompaniesfexampleswapadvertisingwith

12、otherwebsitestheswappingcompaniesoftenbookoffsettingrevenueexpenseamounts.Whilethepracticedoesnotaffectearningsitdoestendtooverstaterevenues.BalanceSheetValuationofReceivablesTheappropriatedollaramountatwhichtovaluerecei

13、vablesonthebalancesheetisprimarilyaquestionofwhethertheoutstingreceivableswillinfactbepaid.CompanieslikeGeneralMotsGeneralElectrichavebillionsofdollarsinoutstingreceivablesmanyofwhichmayneverproduceanycash.Estimatingsuch

14、uncollectiblewhichcansignificantlyaffectboththeincomestatementthebalancesheetcanbeverysubjectivecanleadtosubstantialdisagreementsbetweenmanagementitsaudits.Severalyearsagofexampleamajauditingfrompostponedrenderinganopini

15、ononFederalHomeLoanBankofDallasbecausethebankcarried$500millionofquestionablereceivablesonitsbalancesheet.Baddebtwriteoffscanalsobeenmous.In2003alonePepsiCowroteoff$43millioninbaddebts.Inadditionestimatingbaddebtsinvolve

16、sjudgmentthereisarealtemptationfmanagerstousetheestimatetoreptfavableearnings.Theseexamplessuggestthat(1)baddebtscanbesignificant(2)estimatingbaddebtsissubjective(3)managementisoftenunwillingtoestablishlargebaddebtprovis

17、ions.Usersmustbeawareoftheseconcernspaycloseattentiontothesizeactivityintheallowanceaccountaswellastheannualbaddebtexpense.Fexampleconsideracasewherethefollowinginfmationistakenfromthefinancialstatementsofacompanyyouarec