21T3 IPASS教育ACCT5942 期末冲刺课讲义
21T3 IPASS教育 ACCT5942
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Part 1 Joint Arrangement…………………………………………………………………………………………………………3
1. Accounting rule ……………………………………………………………………………………………………………….3
(1) Accounting by the joint operation itself …………………………………………………………………………3
(2) Accounting by a joint operator……………………………………………………………………………………..3
2. 具体会计记录…………………………………………………………………………………………………………………3
Step 1: Contributions of assets to a joint operation and asset records……………………………………3
Step 2: Depreciation Adjustment……………………………………………………………………………………….6
Step 3: Management fees paid to a joint operator ………………………………………………………………7
Part 2 Associate and Joint Ventures ………………………………………………………………………………………..10
1. Identification of investment…………………………………………………………………………………………….10
2. 关于 Associates和 Joint Venture 判定 …………………………………………………………………………….10
3. 会计处理原则（single-line method）…………………………………………………………………………….12
4.重点例题 1 (不考虑 inter-entity transaction)……………………………………………………………………13
5. 重点例题 2 （考虑 inter-entity transaction ） …………………………………………………………………15
6. 综合例题………………………………………………………………………………………………………………………17
Part 3 NCI and INCI………………………………………………………………………………………………………………..21
第 1部分：基础概念 ……………………………………………………………………………………………………….21
1. Direct and indirect non-controlling interest structure …………………………………………………….21
2. Calculation of the NCI share of equity …………………………………………………………………………..21
3. The effects of intragroup transactions on the calculation of the NCI （except dividend） ….24
4. The effects of dividend paid/declared by a subsidiary on the calculation of the NCI …………..25
第 2部分具体会计处理……………………………………………………………………………………………………26
1. 总体处理思路……………………………………………………………………………………………………………26
2. 重点例题…………………………………………………………………………………………………………………..27
Part 4 Impairment of Assets and goodwill………………………………………………………………………………..32
1. 基本会计处理……………………………………………………………………………………………………………….32
1. Cost Model ………………………………………………………………………………………………………………..32
2. Revaluation Model……………………………………………………………………………………………………..32
3. Cash-generating units (CGUs) – excluding goodwill ……………………………………………………….33
4. CGU and goodwill……………………………………………………………………………………………………….36
5. Reversal of an impairment loss – individual assets …………………………………………………………37
2. 重点练习题 1………………………………………………………………………………………………………………..38
3. 重点练习题 2………………………………………………………………………………………………………………..40
4. 重点练习题 3………………………………………………………………………………………………………………..42
5. 重点练习题 4………………………………………………………………………………………………………………..44
6. 重点练习题 5………………………………………………………………………………………………………………..49
7. 重点练习题 6………………………………………………………………………………………………………………..51
Part 5 PP&E revaluation (Topic 3) – more than 1 years………………………………………………………………54
1. 基本会计处理……………………………………………………………………………………………………………….54
1. Cost Model ………………………………………………………………………………………………………………..54
2. Revaluation Model……………………………………………………………………………………………………..54
2. 基础例题………………………………………………………………………………………………………………………55
3. 重点例题………………………………………………………………………………………………………………………58
4. 其他重点习题 1…………………………………………………………………………………………………………….61
5. 其他重点习题 2…………………………………………………………………………………………………………….65
6. 其他重点习题 3…………………………………………………………………………………………………………….68
Part 6 Share capital and reserves…………………………………………………………………………………………….73
1. 基本会计处理……………………………………………………………………………………………………………….73
1.1全额付款（Share issue fully payable on application） …………………………………………………73
1.2 分期付款形式………………………………………………………………………………………………………….74
1.3 Oversubscription (application申请认购金额 > shares offered) …………………………………….77
1.4 Forfeited Shares （CR account） ……………………………………………………………………………….79
1.5 Share issue costs and formation cost的会计处理 ……………………………………………………….81
1.6 Private Placement (私募发行)的会计处理 ………………………………………………………………….81
1.7 Bonus Issues的会计处理 ………………………………………………………………………………………….82
1.8 Share Option的会计处理 …………………………………………………………………………………………82
Part 1 Joint Arrangement
1. Accounting rule
(1) Accounting by the joint operation itself
• The journal entries represent the establishment of the joint operation
and its activities throughout the year.
• Transactions that occur regularly throughout the year, such as payment
of wages, are accumulated into one entry.
• In some cases, the costs may be transferred to the operators’ accounts
as expenses and matched in the records of the operators with the
revenue from sale of the output.
(2) Accounting by a joint operator
• The key feature of a joint operation is that the joint operator has an
interest in the individual assets and liabilities of the joint operation
• Its share of any jointly held assets
• Its share of any jointly held liabilities
• Its revenue from the sale of any output received from the
joint operation
• Its share of any revenue from the sale of any product that is
jointly constructed by the joint operators
• Its share of any expenses incurred by the joint operation
• Its expenses incurred in construction of a joint product.
Step 1: Contributions of assets to a joint operation and asset
On 1 July 2018, Tweed Ltd and Heads Ltd established a joint operation to manufacture a
product. Each company has a 50% interest in the operation and shares output equally. To
commence the operation, on 1 July 2018, Tweed Ltd contributed cash of $1 500 000 and
Heads Ltd contributed equipment which had a carrying amount of $1 000 000, and a fair value
of $1 500 000. The equipment is depreciated in the joint operation’s accounts at 10% p.a. on
Records of Tweed Ltd
At 1 July 2018, Tweed Ltd gives up the cash contribution and recognises a share of the cash
and the equipment in the joint operation. Tweed Ltd will recognise a share of the fair value
of the asset.
The entry is:
Cash in JO Dr 750 000 [$1 500 000/2]
Equipment in JO Dr 750 000 [$1 500 000/2]
Cash Cr 1 500 000
The entry at 30 June 2019 in Tweed Ltd’s accounts is as follows.
Raw Material in JO Dr 50 000
Work in Progress in JO Dr 400 000
Inventories in JO Dr 100 000
Inventories[distributed] Dr 700 000 （1600k-200k）* 50% = 700k
Accum Depreciation — Equipment in JO Cr 75 000
Accounts Payable in JO Cr 60 000
Accrued Expenses in JO Cr 75 000
Bank Loan in JO Cr 500 000
Cash in JO Cr 540 000 [$750 000 − ($420 000/2)]
Records of Heads Ltd
In recording its contribution to the joint operation, Heads Ltd therefore recognises a gain on
selling half of the equipment to Tweed Ltd. (卖给对方的部分按照 FV计算)
Heads Ltd’s share of the equipment in the joint operation is then based on the original
carrying amount of the asset. （Equipment自己在 JO的部分按照 CA计算）
At 1 July 2018, Heads Ltd contributes equipment to the joint operation, this having a carrying
amount in Heads Ltd different from the fair value of the asset. In recording its contribution to
the joint operation, Heads Ltd therefore recognises a gain on selling half of the equipment to
Tweed Ltd. Heads Ltd’s share of the equipment in the joint operation is then based on the
original carrying amount of the asset. The entry is:
Cash in JO Dr 750 000 [$1 500 000/2]
Equipment in JO Dr 500 000 [$1 000 000/2]
Equipment Cr 1 000 000
Gain on Sale of Equipment Cr 250 000 [$500 000/2]
【The Same】
Step 2: Depreciation Adjustment
• The depreciation recognised by Tweed Ltd is $75 000, which is based on the fair value
of the asset.
• Heads Ltd needs to recognise only $50 000 depreciation, which is 10% of $500 000.
• A further entry is necessary to reduce the accumulated depreciation recognised by
Heads Ltd and to reduce the cost of the work in progress and inventories relating to
the joint operation.
Accumulated Depreciation — Equipment in JO Dr 25 000 [10% × ($750 000 − $500 000)]
Work in Progress in JO Cr 8 333
Inventories in JO Cr 2 083
Inventories Cr 14 584
Step 3: Management fees paid to a joint operator
For the joint operator that does supply the service, normally it would incur a cost to supply
the service and earn a profit on the supply of that service.
On 1 July 2019, and Kalbarri Ltd agreed to a joint operation that would be involved
in the production of furniture. The contractual arrangement required both parties to invest
$270 000 cash in the joint operation with each party having a 50% interest in the joint
operation. Under the contractual arrangement the joint operation would distribute the
output equally to each operator.
The joint operation agreed to pay $30 000 p.a. to supply management services to
the joint operation. The cost to to supply these services is $24 000.
At 30 June 2020 the joint operation reported the following information
Prepare the journal entries in the records of in relation to the joint operation for
the year ending 30 June 2020.
’s record on 1 July 2019:
Cash in JO Dr 270 000
Cash Cr 270 000
(Investment in JO with Kalbarri Ltd)
30 June 2020:
Inventory Dr 140 000 (280 000/2)
Raw materials in JO Dr 18 000 (36 000/2)
Inventory in JO Dr 10 000 (20 000/2)
Work in progress in JO Dr 27 000 (54 000/2)
Machinery in JO Dr 112 500 (225 000/2)
Accumulated depreciation –equipment – JO Cr 22 500 (45 000/2)
Accounts payable in JO Cr 22 500 (45 000/2)
Accrued wages in JO Cr 9 000 (18 000/2)
Cash in JO Cr 253 500 (270 000 – 33 000/2)
Management fees paid to a joint operator
Management services expense Dr 24 000
Cash Cr 24 000
(Cost of supplying services to JO)
Cash Dr 30 000
Management services revenue Cr 30 000
(Receipt from JO for supply of services)
Management services revenue Dr 12 000
Management services expense Cr 12 000
(Elimination of expense of supply of services to self: ½ x $24 000)
services to self: ½ x $24 000)
The profit element on supplying services to the JO is $6000 i.e. $30 000 less $24 000. The
profit to itself i.e. $3000 is proportionately adjusted across inventory-related assets:
Share of $3000
Work in progress in JO $27 000 $458
Inventory in JO 10 000 169
Inventory 140 000 2 373
177 000 3 000
Management services revenue Dr 3 000
Work in progress in JO Cr 458
Inventory in JO Cr 169
Inventory Cr 2 373
Part 2 Associate and Joint Ventures
1. Identification of investment
分类：分为控制（control）,共同控制（Joint Ventures）, 重大影响（Associates）和金融工具
投资（investment）
2. 关于 Associates和 Joint Venture 判定
（1）重大影响（significant influence判定）：
• power to participate in the financial and operating policy decisions of another company but
is not control or joint control over those policies.
• Some say 20% of the voting power is the ‘rebuttable presumption
v.s：Control: power to govern the financial and operating policies of another company so as to
obtain benefits from its activities
Essence of
relationship
investment
Accounting treatment
Control Subsidiary Consolidation accounting using
entity concept
Significant
Associate Equity accounting
Joint control Joint venture or
Joint operation
Equity accounting
Line-by-line method
investment
investment
Cost or fair value basis
(2) Associates的判定识别
• Voting power – 20% to 50% of voting power leads to presumption of significant
• Board representation
• Participation in decisions about dividends / profit retentions
• Material transactions between the investor and investee
• Exchange of managerial staff
• Provision of / dependence on technical information
(3) Joint Ventures (共同控制)判定
AASB 128 (para. 3) definitions
• A joint arrangement is “an arrangement of which two or more parties have joint
Level of influence % of voting
shares (guide)
independent
<20% Cost or Fair Value basis (AASB 9) Significant influence but no 20-<50% Equity method (AASB 128) Control 50% and above Consolidation (AASB 10&127) • Joint control – contractually agreed sharing of control; exists only when decisions about the relevant activities require unanimous consent of those sharing control • Two types of joint arrangements; joint ventures and joint operations • A joint venture is a “… joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement” – use equity accounting • Joint operations typically share output – use proportional line-by-line accounting (4) 设立 Associate and JV原因 • Spread risk across several investors, e.g in mining • Project is too big for any single investor • As a first step to an intended 100% merger, • For strategic alliances • Try a new business direction (toe in the water) • To enter a foreign market, e.g. China 3. 会计处理原则（single-line method） Step1: 初始确认：The asset “Investment in Associates and JVs” is initially recognized at cost (cost method) –按投资额确认 Step 2: The asset is subsequently adjusted for: The post-acquisition change in the investor’s share of the investee’s net assets (e.g. due to profitable operations)被投资方净资产变化的调整，包括两个部分 • “Share of profit/(loss) of Associates and JVs” –> 如被投资方有 P& L变化
• “Share of OCI of Associates and JVs”->如被投资方有 OCI变化
Initial investment in the associate (cost)
+/- investor’s share of profits/(losses)
+/- investor’s share of items of OCI
– reduced by distributions by the investee (e.g. dividends)
+/- investor’s share of increases/(decreases) in investee’s net assets
(other than P/L, OCI or distributions)
= Equity accounted carrying amount
类型 1: If the investor is not a parent
The equity method is applied in the investor’s books（权益法）
类型 2: If the investor is a parent
• Consolidation worksheet contains:
– Consolidation journals relating to subsidiaries
– Equity journals relating to associates
4. 重点例题 1 (不考虑 inter-entity transaction)
Alpha Ltd acquired 25% of the voting shares of Beta Ltd on 1 July 2019 for $80,000. At the date of
acquisition the shareholders equity of Beta is as follows:
Share Capital 250,000
Retained earnings 70,000
All assets are recorded at their fair value.
The following information relates to Beta Ltd:
Profit/(loss) after tax $60,000
Dividend paid $20,000
Asset Reval Reserve balance $2,000
Prepare the equity accounting journals at 1 July 2019 and 30 June 2020 assuming that:
(a) Alpha does not prepare consolidated financial statements
(b) Alpha prepares consolidated financial statements
类型 1: A不准备合并报表（not parent company）
Step1: 确认初始投资（1 July 2019: Investment in Beta Ltd）
Dr Investments in Associates/JVs 80,000
Cr Cash 80,000
Step 2: 确认被投资方 equity的变化，调整 investments in Associates金额
(a) Share of profit for the 2020 year (当期利润$60,000 x 25%)
Dr Investments in Associates/JVs 15,000
Cr Share of profit in Associates/JVs 15,000
(b) Dividend from Beta during 2020 (Dividend$20,000 x 25%)
Dr Cash 5,000
Cr Investments in Associates/JVs 5,000
(c) Share of revaluation increase recognised in OCI during 2020 ($2,000 x 25%)
Dr Investments in Associates/JVs 500
Cr Share of OCI of Associates/JVs 500
Dr Share of OCI of Associates/JVs 500
Cr Asset revaluation surplus 500
类型 2: A 准备合并报表（Parent company）
Step1: 确认初始投资（1 July 2019: Investment in Beta Ltd）
Dr Investments in Associates/JVs 80,000
Cr Cash 80,000
Step 2: 确认被投资方 equity的变化，调整 investments in Associates金额
The equity of Beta Ltd at 30 June 2020 is as follows:
Share Capital 250,000
Retained Earnings (70,000 + 60,000 – 20,000) 110,000
Asset Revaluation Reserve 2000
Total Shareholders’ equity 362,000
Multiply by 25% = 90,500
The Investment in Associates and JVs is
calculated as: 80,000 + 15,000 – 5,000 + 500 = 90,500
(a) Share of profit for the 2020 year (当期利润$60,000 x 25%)
Dr Investments in Associates/JVs 15,000
Cr Share of profit in Associates/JVs 15,000
(b) Share of revaluation increase recognised in OCI during 2020 ($2,000 x 25%)
Dr Investments in Associates/JVs 500
Cr Share of OCI of Associates/JVs 500
Dr Share of OCI of Associates/JVs 500
Cr Asset revaluation surplus 500
(c) Dividend处理不同
Dr Dividend revenue 5,000
Cr Investment in Associates and JVs 5,000
Dr: Cash 5,000
Cr: Dividend revenue 5,000
5. 重点例题 2 （考虑 inter-entity transaction）
Note: Alpha需要准备合并报表
Alpha Ltd acquired 25% of Beta Ltd on 1 July 2018 for $100,
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