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美國CPA《財務會計與報告》考點：長期負債、應付債券
正保會計網(wǎng)校特別為美國CPA學員整理了美國CPA《財務會計與報告》的內(nèi)容，以備迎接美國cpa考試，祝您在網(wǎng)校學習愉快！
Long-term Liabilities and Bonds Payable
Long-term liabilities are probable future expenditures associated with current obligations that are not payable within the current operating cycle or reporting year，whichever is greater.
Include：bonds payable，long-term promissory notes payable，Long-term leases，post-retirement pension payable，deferred income taxes payable，etc.（F5-30）
Definitions
Market（effective）interest rate is the rate of interest actually earned by the bondholder and the rate of return for comparable contracts on the date the bonds are issued.
實際利率（有效利率）就是使折現(xiàn)后的現(xiàn)金流量凈額為0的利率。債券持有人的現(xiàn)金流出為購買支出；現(xiàn)金流入為每期利息和到期還本。使債券持有人的折現(xiàn)后的現(xiàn)金流量凈額為0的利率，就是實際利率。
Others，please refer to F5-30
Introduction to Bonds Payable
Bonds represent a contractual promise by the issuing corporation to pay investors a specific sum of money at a designated maturity date plus periodic，fixed interest payments based on a percentage of the face amount of the bond.
常見的Bonds分類
（考點）Terms bonds Vs.Serial bonds.Terms bonds–本金到期一次性償還。Serial bonds–本金分期逐步償還。
Convertible Bonds可轉(zhuǎn)債?？赊D(zhuǎn)為股票，但利率低。Detachable / Nondetachable warrants.如果轉(zhuǎn)股權(quán)可從債券中分離，單獨買賣，則為Detachable.否則為Nondetachable.
Zero coupon bonds.只還本不付息。通過大折扣銷售進行。也稱deep discount bonds.
Debentures.Unsecured bonds
Mortgage bonds or Collateral Trust bonds–secured bonds.
Commodity-backed bonds are redeemable either in cash or a stated volume of a commodity，whichever is greater.
Bonds payable Vs.Notes payable
Bonds are publicly traded. Note are privately traded.
The contract of bonds are “Indenture”。The contract of notes are “Loan agreement”
由于Bonds公開交易，這決定了與notes相比，bonds在各個方面更加標準化，固定化。如在面值、年限、付息方式、還本方式等方面。（F5-32）
Overview of bond terms
Usually in denominations of $1000
Indenture is a contract for purchase of bond
Coupon rate=the stated interest rate on the bond
Principal payoff is always the full face amount
Premium/discount is the result of buyer and seller “adjusting” the coupon rate to the prevailing market rate of interest.
TB（科目余額表）中，包括面值與調(diào)整兩個科目。F/S中，以抵銷后的凈值列示。
Accounting for the issuance of bonds
Market/Effective rate>Stated rate，Bonds issued at a discount
Market/Effective rate =Stated rate，Bonds issued at par value
Market/Effective rate<Stated rate，Bonds issued at a Premium
Borrower
Dr.Cash
Dr.Discount on bond payable
Cr.Premium on bond payable
Cr.Bond payable
Investor
Dr.Investment in bonds
Cr.Cash
Bonds carrying value
Bonds payable（face）
–Discount on bond payable（Unamortized）
Or.+Premium on bond payable（Unamortized）
Carrying Value
Discount are amortized to increase the periodic interest expenses.
Premium are amortized to decrease the periodic interest expenses.
Accompany with amortization，bonds‘ carrying value approach face value，and finally equal to face value at maturity.
Bond issue costs are transaction costs of the bond issue.E.g.legal fees，underwriting commissions，printings，accounting fees etc.
（GAAP）They are recorded as a separate asset - deferred charge and amortized using the STRAIGHT-LINE method.
（IFRS）They are combined into discount / premium and amortized using the effective interest method.
Methods of Discount/Premium Amortization
Amortization period.
GAAP–the time period that the bonds are outstanding.
IFRS–Expected life of the bonds.
Amortization method.
Effective Interest method（GAAP/IFRS）。
Straight-line method（Not GAAP，but permit under GAAP./Not permitted under IFRS）
Effective Interest Method
Bonds Carrying value，即應付債券余額。
每期歸還的現(xiàn)金中，先還利息，后還攤銷。
本期利息＝上期期末本金X實際利率（I/S）
本期攤銷＝總還款-本期利息
期未余額＝上期期末余額–本期攤銷
債券應用實際利率法口訣
債券攤銷列表格，期初期末寫兩頭。
實際年率除期次，才是可用期利率。
期初余額乘利率，兩者相乘入損益。
每期還款總相等，還款損益兩相減。
差額就是攤銷額，做好分錄調(diào)余額。
期初余額與攤銷，相加得出期末值。
Borrower amortization entry
Dr.Bond interest expenses（I/S）
Dr.Premium bonds payable
Cr.Discount on bonds payable
Cr.Cash
Investor amortization entry
Dr.Cash
Dr./Cr.Investment in bonds
Cr.Bond interest revenue
Comparison of straight-line and effective interest method
Premium/Discount | Straight-line CV | Effective interest CV |
Premium | Big | Small |
Discount | Small | Big |
Bonds Issued Between Interest Dates
The amount of interest that has accrued since the last interest payment is added to the price of the bond.
DR.Cash
Cr.Bond Interest Expenses
沖銷已計提，但由投資人額外承擔的預提利息費用（plus accrued interest）。
Year-end Bond Interest Accrual
每月都要做的預提債券利息和攤銷溢/折價。
Bond Sinking Funds is a trustee fund（restricted cash）pursuant to the indenture wherein the company contributes money each year so that at maturity， there is a sum available to repay the entire liability.
The sinking fund is generally a non-current（restricted）asset on F/S.
Sinking funds payment=Payables/ Future value of an annuity of $1
Serial bonds mature in installments.
You can treat serial bonds as the sum of several term bonds.
The amortization methods is also effective interest method.
Bonds outstanding method is NOT GAAP，but permitted.
Bonds outstanding method just like sum-of-the-year‘s-digits.
Convertible bonds（Nondetachable warrants）
All the issuance price is allocated to the bonds with no recognition of the conversion feature.
When conversion，use book value method.
將轉(zhuǎn)換日視同B/S日，預提利息，攤銷溢折價，攤銷發(fā)行成本。計算債券賬面凈值。
將轉(zhuǎn)換債券對應的賬面凈值全額記入C/S和APIC. 不確認損益。
Market Value Method（Non-GAAP）
將轉(zhuǎn)換日視同B/S日，預提利息，攤銷溢折價，攤銷發(fā)行成本。計算債券賬面凈值。
按轉(zhuǎn)換日股票的公允價值，計算C/S和APIC.
將轉(zhuǎn)換債券對應的賬面凈值與股票的公允價值之差，確認為Gain/Loss
Bonds sold with Detachable Stock Purchase Warrants
Warrants are option contracts that are issued with，and detachable from，bonds.
Bonds and Detachable warrants are two separate financial instruments.They should be accounted separately.
核心：先分后算
“先分”采用warrants only method或warrants and bonds method.
當warrant與bonds的公允價值均可獲得時，采用warrants and bonds method.即將發(fā)行的總款項，按debt與warrant的公允價值比值分配。
當兩項金融工具中只有一項的公允價值可知時（通常為warrant），將已知公允價值的金融工具，按公允價值入賬。將發(fā)行總款項扣除已知公允價值后，分配給另一項金融工具。
“后算”。
Bonds的核算按前面講述的實際利率法核算。
Warrant通過A.P.I.C下的warrant子科目核算。Warrant的全生命周期包括：
Warrant的發(fā)行（Issue）
Warrant的行權(quán)（Exercise）
Warrant的失效（Expire）
Warrant的初始發(fā)行分錄為（Issue）：
Dr.Cash
Cr.A.P.I.C–warrants
Warrant的行權(quán)的分錄為（Exercised）
Dr.Cash
Dr.A.P.I.C–Warrants
Cr.C/S
Cr.A.P.I.C（Squeeze）
Warrant到期作廢的分錄為（Expire）
Dr.A.P.I.C–Warrants
Cr.A.P.I.C（Squeeze）
Extinguishment of Debt
An Extinguishment of Debt is a transaction in which the debtor pays the creditor and is relieved of its obligation for the liability or the debtor is legally release form being the primary obligor under the liability.
Generally，bond extinguished before maturity will cause gain or loss.
Extinguish Gain/Loss=Reacquisition price–Net carrying amount
Net carrying amount=Face value–Unamortized discount+Unamortized premium-Unamortized issue cost reported as an asset.
If extinguishment is material in aggregate，unusual in nature，and occurred infrequently，recorded the G/L as Extraordinary item（net of tax）。Otherwise recorded in Income from continuing operations（gross of tax）
Disclosure requirements
Note often show details regards maturity dates，interest rate，call and conversion privileges，assets pledged as security，and borrower imposed restrictions etc.
Detail future sinking fund payments.
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