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Lecture 14

BU387 Lecture 14: Chapter 5 notes_balance-sheet

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Wilfrid Laurier University
John Czubak

Chapter 5 Balance Sheet Firm’s Name - It is a static statement Balance Sheet - It presents financial situation Dec. 31, 2016 Current Assets Ch. 7 Cash/Cash Equivalents (presented at stated $ value)  If cash is restricted for purposes other than current obligations, report in Other Assets section Ch. 9 Short-Term Investments (presented at cost/amortized cost or FV)  Liquid  Debt and equity securities are presented separately Ch. 7 Accounts Receivable (at net realizable value: AR- allowance D.A)  The amounts of expected uncollectibles, non-trade receivables, and accounts pledged or discounted should be disclosed. Ch. 8 Inventory (at cost or the Lower of Cost or Net realizable Value)  Cost: quantity: period-end counting unit cost formula: FIFO, weighted average cost, etc.  Market value: * replacement cost: supplier market * net realizable value: customer market (GAAP)  Must indicate: raw material work in progress finished goods Ch. 7 Prepaid Expenses (at historical cost) -----Order of Liquidity----- 1 Ch. 9 Noncurrent Investments  Debt securities (held to maturity): measured at amortized cost  Equity securities: - Subsidiaries – consolidation - Significant influence – equity method - Investments with no control or influence – FV or cost - Others (e.g., sinking funds; tangible assets held as investments) – generally valued at cost Ch. 10 & 11: Property, Plant and Equipment  Durable physical property (e
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