On the CPA exam in 2011 accounting Confusing error-prone test sites

Paper Network: First, the book balance and the book value of assets, the difference between the carrying amount of assets is historical cost of assets, and book value of assets is the carrying amount of assets, net of accumulated depreciation, accumulated amortization and impairment after such amount of net assets book balance and the carrying amount may equal or may not be equal to (1 book value of assets and the carrying amount of assets equal to, for example, bank balance and book value equal to the book, the book balance of cash and book value equal to (2 asset's carrying value and carrying amount of dollars. the balance of the asset's carrying value of assets, ranging from living in three major reasons: First, place the value of assets due to use impairment, the second is an impairment of assets, third is to consider the time value of money. common book value and the book balance of the case ranging summarized as Table 1.

[Example 1] shows the book value of long-term receivables with a book balance of the relationship between the company January 1, 2011 sale of a large-scale equipment to Company B, priced $ 30 million, respectively, in the end of 2011 to 2012 equal charge. In accordance with tax law, at the agreed date of receipt of payment by the agreed amount out VAT invoices, and receive value-added tax, the cost of equipment 1,600 million is January 1, 2011 should be recognized for long-term revenue the present value of the receivables, assuming discount rate of 6%. A company accounts handled as follows (Unit: million:
(12011 was sold on January 1, the present value of long-term receivables = 1000 ÷ (1 +6% +1000 ÷ (1 +6% 2 +1000 ÷ (1 +6% 3 = 943.4 +890 +839.62 = 2673.02 (million yuan.

Long-term receivables 30 million yuan and the difference between income 26,730,200 yuan 3.2698 million yuan included in 'unearned finance income', the equivalent of a company in the sale of Company B on Disbursement of funds 26,730,200 yuan, according to market interest rate of 6% interest charges, interest receivable of 3.2698 million yuan for three years.

By: Long-term receivables (the + rate 3000

Credit: Main business revenue (principal 2673.02
Unearned finance income (interest 326.98

By: Cost of 1600

Credit: Inventory of goods 1600

(22 011 in December 31

Collection of payments

By: bank deposit 1170

Credit: Long-term receivables 1000

Taxes payable - VAT (tax 170

Interest income in 2011 confirmed

By: Unearned finance income 160.38
Credit: Financial costs (interest income 160.38
The annual interest calculation in Table 2.
December 31, 2011 book value of long-term receivables, long-term receivables book balance = (3000-1000-- unearned finance income (326.98-160.38 = 2000-166.6 = 1833.4 (million).

Assuming the end of 2011 the long-term receivable provision for bad debts 100 million, the December 31, 2011 book value of long-term receivables, long-term receivables book balance = 2000 - unrealized finance income 166.6-Provision for bad debts 100 = 1733.4 ( million.

Second, the book balance of debt and book value of the difference between the carrying amount of liabilities is the carrying amount of debt accounts, in general, the book value of debt and liabilities equal the carrying amount, such as accounts payable balance of the book value equal to its book, but taking into account the time value of money, the book value of liabilities is not equal to the book balance. the book value of common situations ranging book balances summarized in Table 3.

[Example 2] shows the book value of long-term payables with the relationship between the book balance.
Company A January 1, 2011 purchased from Company B to use as a fixed asset of large machines, the machine has been received. Purchase contract, the total price of a large machine of 1000 million, paid over three years, December 2011 31 to pay 500 million yuan, 31 December 2012 to pay 300 million yuan, 31 December 2013 to pay 200 million yuan. to pay VAT in accordance with the agreed payment date, assuming the discount rate of 6% is a company account business process is as follows (Unit: million:

(12011 years from 1 January

Calculating the present value of the total price as a fixed asset value

January 1, 2011 the present value of = 500 ÷ (1 +6% +300 ÷ (1 +6% 2 +200 ÷ (1 +6% 3 = 471.70 +267.00 +167.92 = 906.62 (ten thousand yuan
The total price and the difference between the present value as unrecognized financing costs, financing costs which are not confirmed the total price = 1000 - present value of 906.62 = 93.38 (million).

By: Fixed assets (the 906.62
Unrecognised finance charge (interest rate 93.38

Credit: Long-term payables (the 1000 + rate

(22,011 paid on December 31 by payment: Long-term payables (interest in this 500 +


Taxes payable - value added tax (VAT 85

Credit: bank deposits 585

Confirm the interest expense in 2011 by: Finance charges 54.39
Credit: unrecognized financing charges 54.39
Calculation of interest charges each year in Table 4.
December 31, 2011 book value of long-term payables = long-term payables book balance (1000-500) - unrecognized financing charges (93.38-54.39 = 500-38.99 = 461.01 (million Share in the free download http: / / eng.hi138.com
[Example 3] shows the book value of remuneration payable to employees and the relationship between the book balance.
Cuihua is an employee of a company, in December 31, 2010 within the retirement will be December 31, 2015 to retire, assuming the end of each year within a company should pay back wages and benefits Cuihua $ 50,000, and assumed discount rate of 6% is a company's accounting treatment is as follows (Unit: million:
(12 010 in December 31, present value of employee benefits payable = 5 ÷ (1 +6% +5 ÷ (1 +6% 2 +5 ÷ (1 +6% 3 +5 ÷ (1 +6% 4 +5 ÷ (1 +6% 5 = 4.72 +4.45 +4.20 +3.96 +3.74 = 21.07 (million yuan.

By: management fees 21.07
Unrecognized financing charges 3.93

Credit: Accrued payroll 25

December 31, 2010 Accrued payroll period book value = carrying amount of remuneration payable to employees 25 - unrecognized financing charges 3.93 = 21.07 (million), at the end of 2010, balance sheet, should be listed employee benefits payable 210,700 yuan .

(22 011 in December 31, wages and benefits paid in retirement by: Accrued payroll 5


Credit: bank deposits 5

Confirm the interest expense in 2011 by: Finance charges 1.26
Credit: unrecognized financing charges 1.26
Calculation of interest charges each year as shown in Table 5.
Calculation of remuneration payable to employees carrying value December 31, 2011 Accrued payroll book value = carrying amount of remuneration payable to employees (25-5-- unrecognized financing charges (3.93-1.26 = 20-2.67 = 17.33 (million yuan.

For the remaining years slightly.
Third, a variety of asset overage, shortage difference between the accounting treatment of assets in use or stored procedure, and sometimes occur overage inventory shortage. Overage, shortage of accounting treatment are summarized in Table 6.

Fourth, the accounting treatment of land use rights

China's land ownership by the whole people in the town, in rural areas by the collective use of land units can not land ownership, land use rights has only enterprise should obtain land use rights according to the ways and use different accounting treatment adopted Land Use accounting treatment for the right summarized in Table 7.

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