Lý thuyết Kế toán quốc tế 2

tổng hợp lý thuyết từ cơ bản, chi tiết, cụ thể tổng hợp lý thuyết từ cơ bản, chi tiết, cụ thể giúp hệ thống cũng như tự học được các kiến thức không có nền, củng cố lại những thông tin về chuẩn mực kế toán

CHAPTER 2: THE ACCOUNTING EQUATION

1 Charts of accounts (simple)

ASSETS

Non-current assets

Plant, property,equipment, machinery

Nhà xưởng, tài sản, thiếtbị

premises Cơ sở sản xuất, văn

phòng, nhà xưởngFixtures and fittings Dụng cụ trong văn phòng,

nhà xưởngMotor vehicles Các phương tiện vận

chuyển

Current assets –

Purchases

Inventories Hàng tồn khoTrade and other

receivables

Các khoản phải thu kháchhàng và phải thu khác Prepayments Các khoản trả trước Cash and cash

Các khoản vay ngắn hạn

Bank overdraft: khi gửi

NH 1000usd mà muốn xài 1200usd thì có thể vay 200usd => lãi vay tính trên 200usd theo ngày

Trande and otherpayables

Các khoản phải trả kháchhàng và phải trả khácTax payables Các khoản thuế phải trảOther accruals Các khoản dồn tích khác

Add: profit for the year Less drawings

Closing capital

Amount invested by Capital Vốn

the owners Drawings Các khoản rút tiền

Depreciation expensesRental expenses Chi phí thuêProperty taxes Thuế tài sản Insurance expenses Chi phí bảo hiểm Telephone and postage

expenses

Chi phí sử dụng điện thoại

và chi phí bưu chính Printing and sationery

expenses Heating and lightingexpenses

Bad debts (irrecoverabledebt written off)

Chi phí nợ xấu

Maintaining expenses Chi phí bảo trì Finance costs (on Loans

and on Bank overdraft)

2 Debit and Credit rules

Account type Normal balance Increase Decrease

Contra Oppositenormal account to

Credit if normalbalance of contraaccount is credit

Debit if normalbalance of contraaccount is creditDebit if normal

balance of contraaccount is debit

Credit if normalbalance of contraaccount is debit

Contra assets Accummulated depreciation/ amortisation/ depletion,

Allowance for doubtful accounts/ bad debts

Contra liabilites Discounts on note payables, Discounts on bond payables

Contra equity Treasury shares, Drawings, Withdrawals

3 Accounting equation for sole traders

Debit: increase in assets, decrase in liabilities, expenses, drawings

Credit: increase in liabilities, increase in capital, sale & other income,

decrease in assets

4 Preparation order of Finance Statements – trình tự lập BCTC

a SCI – Statement comprehensive income (Statement of P&L)

Is a statement in which two key elements of financial statements –

income and expenses – are matched to arrive at profit or loss

 Many businesses distinguish between:

Gross Profit earned on trading (revenue – cost of sales) Profit for the year (Net Profit/Net Income) after other income and expenses = Gross profit - Expenses

- Elements of P/L

 Revenue

 Cost of Sales: the purchase or production cost of the goods sold

 Gross Profit = Revenue – Cost of Sales

 Profit for the year = Gross profit – expenses + non-trading income

 Gross Profit margin = (Gross Profit/ Revenue) x 100

b Statement of changes in Equity (SCE)

c SFP – Statement financial position

Trình bày theo tính thanh khoản tăng dần

- Trình bày tài sản dài hạn – tài sản ngắn hạn

- Trình bày vốn – nợ (nợ dài hạn – nợ ngắn hạn: tính thúc nợ tăng dần – trả

nợ ngắn trước xong tới nợ dài rồi tới vốn)

SFP items

- Fixture, fitting & equipment (FF&E) are movable furniture, fixtures or

other equipment that hav no permanent connection to the structure of abuilding or utilities

- Examples of FF&E: desks, chairs, computers, electronic equipment,

tables, bookcases, and partitions (vách ngăn tường)

SFP for sole traders

nhà xưởngMotor vehicles Các phương tiện vận

chuyển

Current assets

Inventories Hàng tồn khoTrade and other

receivables

Các khoản phải thu kháchhàng và phải thu khác Prepayments Các khoản trả trước Cash and cash

Các khoản vay ngắn hạn

Bank overdraft: khi gửi

NH 1000usd mà muốn xài 1200usd thì có thể vay 200usd => lãi vay tính trên 200usd theo ngày

Trande and otherpayables

Các khoản phải trả kháchhàng và phải trả khácTax payables Các khoản thuế phải trảOther accruals Các khoản dồn tích khác

Add: profit for the year Less drawings

Closing capital

d CF statement

e Notes to FSs

CHAPTER 3: RECORDING FINANCIAL TRANSACTIONS

1 Computerized accounting systems

2 Source documents for recording financial transactions

a Invoice

Terms 2/10, n/30: sẽ hưởng chiết khấu 2% nếu thanh toán trong 10 ngày,còn không phải thanh toán trong 30 ngày

b Credit note – chứng từ điều chỉnh giảm hóa đơn

Credit note: A document issued to a customer relating to returned goods,

or refunds when a customer has been overcharged for whatever reason

It can be regarded as a negative invoice – ghi giảm khoản phải thu của

người bán và khoản phải trả của người mua (một hóa đơn phát hành cho

khách hàng liên quan đến hàng trả lại, hoặc hoàn lại tiền khi khách hàng

đã bị tính phí quá mức cho bất kỳ lý do Nó có thể được coi là một hóa đơn âm)

Who issue Credit notes? Seller/ Supplier

Reasons for issuing Credit notes:

- Seller wants to acknowledge the receipt of the returned goods (người

bán muốn thông báo đã nhận hàng trả lại)

- A customer a has been overcharged; or is given an allowance for damaged goods (khách hàng bị tính giá cao hơn giá bán; hưởng trị giá

khi hàng hỏng)

Credit note is nothing but an acceptance of the debit notes

Cr Accounts receivable (issue Credit notes)

Dr Accounts receviable/ Cr Sales (Dr COS/ Cr Inventory) (issue invoice)

 Để tính net profit sau nghiệp vụ mua bán

c Debit notes

A debit note might be issued to a supplier as a means of formally

requesting a credit note from that supplier A debit note is not a source document (giấy báo nợ có thể được phát hành cho nhà cung cấp như một

phương tiện chính thức yêu cầu giấy báo có từ nhà cung cấp đó Giấy báo

nợ không phải là chứng từ gốc)

Who issue Debit notes? Buyer/ Purchaser

Reasons for issuing Debit notes:

- Buyer wants a return of goods

- He has been overcharged by the supplier; or

Dr Inventort/ Cr Accounts payable (receipt invoice)

Issue Debit notes to call for a deduction

d Delivery notes – xác nhận giao hàng

The delivery note is most often prepared with reference to the sales order

Phiếu giao hàng thường được chuẩn bị liên quan đến đơn đặt hàng

e Good received notes – biên bản giao nhận

A goods received note (GRN) records a receipt of goods purchased, most

commonly in a warehouse

Phiếu nhận hàng là ghi nhận hàng đã mua, phổ biến nhất là ở trong nhà kho

 Recording financial transactions

a Books of orginal entry

- Sales day book – lịch sử bán hàng qua các ngày: The book of original

entry in respect of credit sales, including both invoices and credit notes

- Purchases say book – theo dõi lịch sử mua hàng: The book of original

entry in respect of credit purchases, including both invoices and creditnotes

- Cash book – sổ tiền mặt: The book of original entry for receipts and

payments in the business's bank account

3 Recording bank transaction

Accounted for seperately in a petty cash book

b VAT in the cash book

In the cash book VAT was included in only the cash sales and thetelephone and service charge payments

The cash book only records VAT in respect of receipts or paymentswhich:

• Fall under the scope of VAT, and

• Are not recorded in any other book of original entry, because they arenot credit transactions (VAT đã ghi nhận trong cash book rồi thì khôngghi vào sổ khác nữa ghi sổ tiền mặt rồi thì sẽ tự động chuyển vào sổ cái,không cần ghi vào NKC)

4 Petty cash book

The book or spreadsheet in which payments and receipts of petty cash arerecorded The petty cash book is the source document for petty cash.Petty cash is small money kept for incidental small expenditure (tiền lặtvặt là số tiền nhỏ được giữ lại để chi tiêu ngẫu nhiên)

Used in Imprest system (nằm trong hệ thống tiền ứng trước)

Petty cash imprest system

 Under the imprest system

Cash still held in petty cash (tiền trong quỹ tiền lặt vặt)

+ Voucher payments (biên lai tiền đã chi)

= Must equal the agreed sum or float (tiền theo định mức)

 Reinbursement is made equal to the voucher payments to bring thefloat back up to the imprest amount (số tiền hoàn nhập = số tiền chi ratrong kỳ)

 If not agreed (nếu không bằng): Dr or Cr Over and short (tk lưỡng tính)

Opening fund at the first day:

Dr Petty cash/ Cr Cash 250

Replenish fund: At the end of month or week or when running out of cash inpetty cash fund:

Dr Milk ex 25

Dr Postage 5

Dr Travel 10

Dr Miscellaneous 15

Cr Cash 55 (cr Petty cash)

5 The payroll (book/ journal)

Is the record of wages and salaries costs and is the sourrce document forexpenses relating to employees

Gross pay to employees:

Gross pay = Deductions + Net pay

- PAYE (pay as you earn: thuế TNCN) income tax: to HMRC (Her

Majesty’s Revenue and Customs)

- Employee’s NI (National insurance) contributions: to HMRC

- Employee’s pension contributions: to Pension trustees

- Net pay (cash paid to employees): to pocket of employees

Total payroll cost = Gross pay + Additional employement tax Additional costs for the employees

- Employer’s NI contributions: to HMRC

- Pension contributions: to Pension trustees

Total payroll cost = Gross pay + Additional cost

CHAPTER 4: LEDGER ACCOUNTING & DOUBLE ENTRY

Norminal ledgers = Charts of accounts

Ledgers accounts = Accounts in chart of accounts => presented in T-form Norminal ledger account = General ledger accounts (tk sổ cái) = Control accounts

Personal accounts = Subsidiary ledger accounts (tk chi tiết cho trade receivable and trade payable) = Memorandum receivables and payable ledgers

1 Ledger accounts – tài khoản sổ cái

 Ledger accounting and double entry

Method used to summarise transactions in the books of prime entry

A ledger account for T account looks like this:

2 The norminal ledgers

Is an accounting record which summaries te financial affairs of a business

3 Double entry bookeeping

Basic principles:

- Double entry bookeeping is based on the same idea as the accounting

equation

- Every accounting transaction has two equal but opposite effects

- Equality of assets and liabilities is preserved

- In a system of double entry bookeeping every accounting event must be

entered in ledger accounts both as a debit and as an equal but oppositecredit

Example 1:

Required: what is the double entry for each of the following? Explain each entryin terms of the general rules above

Sales on credit Receivables Sales income

Purchases for cash Purchases expense Cash

Purchases on credit Purchases expense Payables

Pay electricity bill Electricity expense Cash

Receive cash from a

the bank

Note: In this course, Purchases is an Expenses accounts, represents for Inventory account, because this textbook is not deep in Perpetual system vs Periodic systems Basically, they just simply combine the 2 systems into

recording entries and preparing FSs (tài khoản purchase là tài khoản chi phí

vì sách này không đi sâu vào giải thích Inventory, tất cả đưa vào Purchase, họ không có nội dung phân biệt hệ tống hàng tồn kho Kê khai thường xuyên và Kiểm kê định kỳ, họ kết hợp 2 hệ thống này lại trong việc ghi nhận nghiệp vụ hàng tồn kho)

4 The journal entries

5 Double entry for petty cash

1/ Set of the fund: thiết lập quỹ chi lặt vặt

Dr petty cash 1,000

Cr Cash at bank 1,000

2/ Use the fund: keep the receipts until the end of the month or compensating

the lát dollars in fund Then you book: (giữ biên lai cho tới thời điểm cuốitháng, cuối kỳ hoặc hết tiền)

Dr expenses 800

Cr Cash at bank 800

(maintain the petty cash fund at 1,000 always in the period)

3/ Increase/ decrease the fund

Dr petty cash 200

Cr Cash at bank 200 (khi tăng và giảm ghi ngược lại)

6 The receivable and payables ledgers

7 Accounting for discount

a Trade discounts – chiết khấu trong tại thời điểm thương thảo hợp đồng

Trade discount: resulting from buying goods in bulk or regular customers/important customers (mua nhiều hàng hóa, khách hàng mua thường xuyên)

 Cash price/ invoice amount/ selling price = Listed/ quoted price (giániêm yết chính thức) – Trade discount

No accounting treatment for trade discount (no separate ledger account for tradediscount) – không có 1 xử lý kế toán đối với trade disscount

b Cash discount – giảm giá hàng bán

A reduction in the amount payable in return for immedate payment in cash, or

for payment within an agreed period (identify by credit term – ĐIỀU KHOẢN TÍN DỤNG, and we read credit term on the invoice: 2/10, n/30; 3/5,

n/20 EOM – end of month; 2/10, n/30 ROG – received of good)

 Discount allowed to customer: Sales discount (US GAAP) = Discountallowed (UK/ international): (giảm giá cho khách hàng)

 Discount received from supplier: Purchase discount (US) = Discountreceived (UK): chiết khấu được hưởng từ nhà cung cấp

Discount offered tocustomers (Discountallowed)

Discount received fromsuppliers (Discountreceived)

of the Revenues and

Receivables (tại thời

điểm ban đầu – doanh thu hoặc khoản phải thu)

Later on, if Discount isactually not taken,

Increase Revenue (sau

đó nếu không được hưởng thì ghi tăng doanh thu)

Deduct out of thePurchases (expense) andPayable

If discount is actuallynot taken, IncreaseExpense

Discount is not expected

to be taken khoản chiết

khấu kỳ vọng khách

hàng không được hưởng

Do not deduct out ofthe Revenues andReceivables

If discount is

Do not deduct out of thePurchases (expense) andPayable

If discount is

unexpectedly taken,Reduce Revenues andReceiables

unexpectedly taken,Reduce Expense andPayable

Worked example

Finnie has normal credit terms of 30 days but offers a prompt payment discount

of 5% to customers if they settle invoices within 10 days On 19 April, Finnie sold goods totalling $500 to Ruby Ruby normally takes advantage of the prompt payment discount offered On 22 April, Finnie sold goods to Sarah totalling $340 Sarah normally takes a full 30 days to settle her invoices.

➤ Record the transactions with Ruby and Sarah in the ledger accounts of Finnie.

1 Customer Ruby (take advantage on discount)

 At the time of sales

Cr Revenues $25 (from discount not taken)

2 Customer Sarah (do not expect take advantage of cash discount)

 At the time of sales

Cr Trade receivable $340

Use contra-sales to trace the discount (vì có nhiều khách hàng nênkhông phân biệt rõ ràng được doanh thu, dễ nhầm lẫn)

➤ Prepare Ruby's ledger accounts to show how Ruby would record the

purchase transaction assuming that she expected to take advantages of the

early settlement discount but then did not pay within 10 days.

1 Customer Ruby (take advantage on discount)

 At the time of sales

2 Customer Sarah (do not expect take advantage of cash discount)

 At the time of sales

Purchase at gross cost 120,000

Trade discount received – phần chiết khấu khi mua 4,000

Credit sales and invoice price 150,000

Drawings by owner (SSP: bản cân đối kế toán –

không dùng trong IS)

22,000

Prepare the IS (income statement) for this company?

Revenue Credit sales and invoice price + Cash sales - Cash

discounts allowed

= 150,000 + 34,000 – 8,000 = $176,000

Purchase = cost of sales Purchase at gross cost Trade discount received

-Cash discount received

= 120,000 – 4,000 + 1,500 = $114,500Gross profit = Revenue – Purchase = $61,500

Operating expense $72,000

Distribution cost 32,000

Administrative expense 40,000

Net loss = gross profit – expense = ($10,500)

8 Accounting for VAT

VAT is an indirect tax (thuế gián thu) on the supply of goods and services Tax

is collected at each transfer point in the chain from prime producer to final

consumer (tại 1 thời điểm bán từ nơi này sang nơi khác)

The consumer bears the tax in full and any tax paid earlier in the chain can berecorved by a registered trader who paid it

Journalise:

 VAT on sales (output VAT)

Dr trade receivables (part of the posting from the sales day book –including VAT, called gross)

Cr VAT liability account – output tax

Cr Sales (excluded VAT, called Net)

 VAT on purchases (input VAT)

Dr purchases (Net)

Dr VAT liability account – input tax

Cr Payables – gross

 Net amount of VAT owed to HMRC is paid to HMRC regularly Thisamount included in Other payables (output VAT) or Other receivables(output VAT) in the SFP (cấn trừ phần thuế đầu ra và thuế đầu vào,phần còn lại thì nộp HMRC

 EXAMPLE

Value of goods sold VAT 20%

Supply to ABC (ABC paid

$200 but recover it later)

Sell to XYZ (XYZ paid $320

but recover it later)

Sell to consumers (customers

pay $400 VAT but cannot

recover it)

Solutions:

 ABC’s VAT input = $200 (other receivables)

 ABC’s VAT output = $320 (other payables)

 ABC’s due to HMRC (net VAT) = $120

 XYZ’s VAT input = $320

 XYZ’s VAT output = $400 (final consumer bear this tax)

 XYZ’s due to HMRC (net VAT) = $80

 Total VAT through chain = 120 + 80 = $200 (20% added value from

chain = 20% of 600+400)

 Example: calculating VAT from gross amount

a Gross selling amount is $240 Compute VAT 20%

VAT = 240 x 20%/ 120% = $40

b Net selling amount is $20 Compute VAT 20%

VAT = 200 x 20%= $40

VAT balance

15,0

00

100,0

00 output tax purchases

expenses

14,0

00 cash at bank

40,0

00 93,0 112,0

00 00 Balance c/d

(carry down)

19,0

00