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The rules of the transaction are ** priority, time priority. Which is higher should refer to the highest order, the highest order is better than the low order, which follows the principle of which is higher, that is, the higher price wins. Sell is the opposite, and the lower sell is preferred. **The same follows the principle of time first.
Generally, the principle of higher or lower is used in the following places:
In the impairment of assets, the principle of higher should be applied to determine the recoverable amount: the recoverable amount of the asset should be based on the fair value of the asset.
The higher of the net amount after deducting disposal costs and the present value of the asset's projected future cash flows is determined.
In the impairment of an asset group, the book value of each asset after the deduction.
It must not be lower than the highest of the following three:
1. The fair value of the asset less the cost of disposal.
2. The present value of the asset's projected future cash flows.
3. Zero (mostly refers to goodwill.
Fixed asset. Which is higher and which is lower in accounting:
1. The recorded value of fixed assets under financial lease: the lower of the fair value of the leased asset and the present value of the minimum lease payment.
Second, the depreciation period selection:
1. If the ownership of the fixed assets acquired by financial lease can be reasonably determined at the expiration of the term, depreciation shall be accrued within the service life of the leased assets.
Otherwise, depreciation should be accrued for the shorter period of the lease term and the remaining useful life of the leased asset.
2. The decoration cost of fixed assets --- included in the second-level account "fixed asset decoration", and the depreciation shall be calculated separately in a reasonable way within the shorter period between the two decoration periods and the remaining service life of the fixed assets.
3. The decoration cost of fixed assets leased by financial lease shall be depreciated separately by a reasonable method within the shorter period of the interval between two decorations, the remaining lease period and the remaining useful life of the fixed assets.
4. The improvement expenses incurred in the fixed assets under operating lease shall be amortized in a reasonable way within the shorter period of the remaining lease term and the remaining useful life of the leased assets.
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It's not what you say, there are two levels of recognition of asset impairment.
According to the Accounting Standards for Business Enterprises, the assets stipulated in the asset impairment standards should be measured according to the lower of the book value and the recoverable amount, which is in line with the requirements of the principle of accounting prudence.
At the same time, the recognition of recoverable amount is based on the higher of the net fair value less disposal costs and the expected net future cash flows.
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Summary. Answer: Due to the different characteristics of the relevant assets, their impairment accounting treatment is also different.
Inventories and financial assets are current assets. The asset impairment standard regulates mainly non-current assets. The impairment of current and non-current assets is treated differently in some respects.
Why some asset impairment is regulated by the asset impairment standard, and some asset impairment is not regulated by the "Asset Impairment" standard.
Answer: Due to the different characteristics of the relevant assets, their impairment accounting treatment is also different. Inventories and financial assets are current assets.
The asset impairment standard regulates mainly non-current assets. The impairment of current assets and the impairment of non-current assets are treated differently in terms of having a good track.
Legal analysis: treatment of impairment of fixed assets, intangible assets and other assets unless otherwise specified. Legal basis:
Interim Regulations on the Registration of Immovable Property Article 14 Where an application for registration of immovable property is made for sale, creation of mortgages, etc., both parties shall jointly apply for it. In any of the following circumstances, the parties may apply unilaterally: (1) the immovable property that has not yet been registered applies for registration for the first time; (2) Inheriting or accepting a bequest to acquire immovable property rights; (3) The establishment, modification, transfer, or extinction of immovable property rights in effective legal documents of the people's courts or arbitration commissions, or decisions of the people's courts; (4) The name of the right holder, the name of the fictitious talk, or the natural condition of the right holder have changed by accident, and the application for modification of registration has occurred; (5) The immovable property is lost or the right holder gives up the right to the immovable property and applies for cancellation of registration; (6) An application for correction of registration or registration of objections; (7) Other circumstances where laws or administrative regulations provide that a unilateral application may be made by the parties.
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Summary. Accounting standards for impairment of long-term assets: long-term assets after impairment provisions are:
Equity investments credited to financial assets available for ** shall not be reversed at profit or loss when the fair value increases; Construction in progress, construction materials, fixed assets, goodwill, intangible assets, long-term equity investment, etc.
Accounting standards for impairment of long-term assets: long-term assets after the provision for the reduction of the value of the provision are: equity investments recorded in the financial assets available for **, when the fair value rises, Zhenbi shall not be reversed with loss and profit; Construction in progress, construction materials, fixed assets, goodwill, intangible assets, long-term equity investment, etc.
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There are the following differences in the treatment of the impairment of long-term assets and the impairment of current assets:
1.The timing of provision is different: the impairment of long-term assets is usually carried out at the end of the year, while the impairment of current assets needs to be accrued in a timely manner according to the actual situation.
2.The impairment of long-term assets is usually provided for by the fixed proportion method or the net present value method on the basis of land, while the impairment of current assets is usually provided for by the individual method or the overall calculation method.
3.The scope of impact is different: the impairment of long-term assets usually has an impact on the long-term operation of the company, while the impairment of current assets usually only has an impact on the financial position of the current period.
4.The treatment is different: the impairment of long-term assets usually requires the provision and recognition of asset impairment provisions, while the impairment of current assets usually requires the provision and recognition of bad debts.
5.The way it is reported is different: impairments of long-term assets are usually reflected in the balance sheet, while impairments of current assets are usually reflected in the income statement.
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Impairment of long-term assets and current assets are treated differently.
In accounting, long-term assets are usually depreciated using the amortized cost method, while their impairment is usually treated by the asset impairment provision method, that is, the asset impairment provision is made according to the difference between the accumulated depreciation and the net value of the asset (i.e., its carrying amount minus unamortized depreciation). If the future economic benefit of the asset is expected to be less than its book value, the accountant can make some adjustments, such as providing for 83% of the residual value. In addition, for the impairment of long-term assets, it is generally necessary to adjust and deal with both the balance sheet and the cash flow statement.
Impairment of current assets is usually calculated as an impairment loss based on the lower of the cost or market value. Impairment of current assets occurs frequently, especially with respect to customer credit and inventory. The impairment of current assets also usually does not require adjustment and treatment in both the balance sheet and the cash flow statement.
As a result, long-term assets and current assets are treated differently for impairment.
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There are several differences in the impairment treatment of long-term assets and current assets:
1.The timing of impairment provision is different: the impairment treatment of long-term assets is generally carried out at the end of the year, and the impairment is calculated according to the change in the net asset value; The impairment of current assets needs to be provided for in a timely manner according to the actual situation.
2.The basis for impairment provision is different: the impairment provision of long-term assets needs to be calculated according to the net value of the asset to determine whether the impairment provision is required; The impairment provision of current assets usually needs to consider various factors, including market environment, economic situation, competitive situation, etc.
3.The impairment treatment of long-term assets is usually a provision for impairment of fixed assets, and the accounting record is an impairment loss of long-term assets, which directly reduces the book value of the asset; The impairment treatment of current assets is usually a provision for bad debts, which is recorded as a loss provision to temporarily reduce the book value of accounts receivable or inventory.
In short, the impairment treatment of long-term assets and current assets has different timings, bases and treatment methods, and needs to be accurately accrued and treated according to the specific situation.
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Summary. Definition of impairment of assets.
Asset impairment is when the recoverable amount of an asset is less than its book value. Asset impairment provides a measure of the true value of an asset, which essentially replaces cost measurement with a value measure. In principle, when an enterprise's assets are impaired, the impairment losses incurred should be recognized and measured in a timely manner, so asset impairment includes the impairment of all assets.
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25% represents the corporate income tax rate.
Net Profit = Total Profit - Income Tax Expense.
Therefore, "Answer: (107 000-71 333)*(1-25%)=26,750 yuan".
107 000-71 333)" for the impact on total profits.
107 000-71 333)* (1-25%)" is the impact on net profit.
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Net profit after income tax on gross profit.
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