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西方會計英語Unit four Tax accounti

時間:2005-12-30 16:00來源:互聯網 提供網友:bebttr   字體: [ ]
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[00:03.06]Text 4.1  Methods of depreciati
[00:07.34]By definition, fixed1 assets are those which will provide services over a number of years and the matching convention tells us that we should recognise the expense in the same periode as we recognise the associated revenu
[00:20.27]Thus we must not write off ,or expense ,the whole cost of the asset in the period in which the asset is acquire
[00:27.35]but should instead convert the asset into an expense over its lif
[00:30.98]This gradual conversion2 is known as depreciatio
[00:34.74]How should we compute3 the depreciation4 charge for each yea
[00:38.01]An obvious way would be to compare the current value of an asset at the end of the year with its value at the start of the year and say that the difference is depreciatio
[00:46.60]But as we have already emphasized, traditional accounting5 practice is based on historic cost and not current value
[00:53.39]consequently that method is generally not acceptabl
[00:56.61]The traditional approach is to estimate the total expenditure6 to be written off.i.e.the cost of the asset less its estimated scrap7 value
[01:05.31]and then to write off that expenditure over the estimated lifef of the asset by using one of the methods that we shall describ
[01:12.39]It would be helpful to look at a simple exampl
[01:14.84]If a firm purchased a machine on 1 January 199X for $22,000,which is expected to last for four years and then be sold for $ 2,00
[01:26.00]The life of the asset is usually measured in time, but in some instances may be measuerd on the basis of actual usag
[01:33.02]Depreciation on the basis of 'actual usage'is rar
[01:37.04]In order to consider the difficulties inherent in estimating the life of an asset we should think about the reasons why most fixed assets,other than land,have a limited lif
[01:47.02]These reasons may be classified as physical wear and tear,and obsolescence8.
[01:52.07]Obsolescence may be of the asset itself, e.g.a new machine may make the use of the original asset,an older machine
[01:58.91]uneconomic because the new machine is faster or requires less labour
[02:03.17]Obsolescence may also be caused by the object produced by the asset,if,for example,it goes out of fashion.
[02:10.19]In the latter case,the degree of obsolescence will depend on the specific nature of the asset;
[02:15.47]some assets may be easily adapted to alternative uses while others may have only one use,the original.
[02:22.37]None of the above variables can be determined9 with any accuracy, obsolescence, in particular, is rapidly increasing in importance because of rapid changes in technolog
[02:31.75]Deciding how much should be written off and over what period is not the only problem, for there are a number of depreciation methods from which to choos
[02:40.73]A firm's management must decide which one to emply , and a user of financial statements who wishes to compare the financial performance of a number of companies must appreciate the effects of the various method
[02:52.83]In practice we find two main methods of depreciation-the straight-line basis and accelerated depreciatio
[03:00.82]There is another method ,tha annuity10 method which takes account of the interest costs involved in investing in a long-lived asse
[03:07.79]this method has many theoretical attractions but is rarely use
[03:12.29]Heading
[03:13.57]The total expected cost is simply spread over the number of years of expected service giving the amount of depreciation expense per annu
[03:21.98]Heading 2  With these methods the depreciation charge in the earlier years of use is greater than in the last year
[03:29.76]Accelerated methods include(a) the Sum of the Year's Digits11 Method and (b) the Reducing Balance Metho
[03:38.41]Heading
[03:39.72]Let n be the asset's life ,the years are each represented by a digit:1.2.3.4...
[03:49.43]Having fixed on n, the digits are summed and the fractions of the asset cost are charged to the years in reverse order so that the earlier years are charged more than the later year
[04:01.24]Heading
[04:02.99]Here the depreciation charge for each year is a fixed percentage of the net.amount'of the asset(cost less accmulated depreciation to date) at the start of the yee
[04:14.01]Text 4.2
[04:16.31]An important tax bill pending12 in the US Congress would permit depreciation of intangibles,including goodwill14 ,for tax purpose
[04:25.90]This would appear to eliminate a major US tax barrier against takeover
[04:31.15]Just a short time ago, Congress had been carefully scrutinising possible tax incentives16 for acquisitions, such as deductions19 for interest expense ,with an eye towards removing the
[04:42.38]Now it is considering a proposal that appears to increase the tax attractiveness of acquisitions,especially those in which large premiums20 are pai
[04:51.94]In July last year, Congressman21 Dan Rosteknowski, introduced a bill,HR 3035 entitled 'Amortisation of Goodwill and Certain other Intangibles
[05:05.03]The bill would provide a uniform 14 year amortisation period for goodwill and other intangible
[05:12.56]The inability to deduct17 or amortise amounts paid for goodwill has long been one of the main constraints22 in tax planning of acquistions in the U
[05:23.00]While businessmen recognise that goodwill may be an important business asset, they also recognise that its value may be fleetin
[05:31.89]During the 1980s ,the large premiums paid in acquisitions often resulted in prices that greatly exceeded the value of tangible13 asset
[05:41.66]further increasing the significance of the non-deductibility of goodwil
[05:46.64]By allowing amortisation of goodwill ,HR 3035 would appear to increase the attractiveness of acquistion
[05:55.53]A closer examinaion of the proposal, however, reveals that the motive23 behind it is not to provide a tax incentive15 for acquisition
[06:03.73]During the 1980s, as the premiums paid in acquisitions increased so did the incentives for creativity by tax adviser24
[06:13.13]Acquirers did not accept fatalistically that the large premiums they paid had to be additional goodwil
[06:20.53]Instead ,the assets of targets were closely scrutinised to ensure that no possible depreciable or amortisable asset was overlooked
[06:30.27]Along with patents ,licences, favourable25 contracts, the deductible assets uncovered included such items a
[06:38.81]workforce in place (experience and composition of existing workforc
[06:44.74]information base (business records, operating systems, et
[06:49.68]customer-based intangibles (market share and compositio
[06:54.75]and supplier-based intangibles (any expected special value in the future from the acquisition of goods and service
[07:03.31]In many instances, the result was that the amount of the purchase price remaining to be allocated26 to goodwill was quite smal
[07:11.67]However, the Internal Revenue Service challenged many of these claimed deduction18
[07:17.84]Disputes between the Internal Revenue Service and taxpayers27 involving very large sums of money ensued over whether these intangibles existed,
[07:28.00]the appropriated period for their amortisation, and the portion of the total purchase price that could be allocated to the
[07:36.44]These problems are the driving force behind the proposed legislatio
[07:40.59]The uniform amortisation period for intangibles is intended to eliminate disputes over the existence, value and life of intangible asset
[07:50.02]The bill is designed to be neutral with regard to tax revenue although savings28 are anticipated from the reduction in complex dispute
[07:59.14]Hence, the amortisation of goodwill is expected to be financed by increasing the amortisation period for some intangible asset
[08:07.60]For example, acquired computer software would be amortised over 14 years rather than the current five years and covenants29 not to compete would be amortised over 14 years rather than their likely much shorter live
[08:23.46]Generally, the benefits(or detriments) of this new legislation would depend on whether an acquirer bought assets rather than stoc
[08:32.63]Business considerations may limit an acquirer's ability to choos
[08:36.94]For example ,an acquirer may strongly prefer to buy assets because of concerns about large, difficult-to-measure liabilities of the business being acquire
[08:47.60]On the other hand, an acquirer who must make a hostile tender offer can only buy stoc
[08:53.73]A purchase of stock would not automatically permit an amortisation of the acquired corporation's goodwill since the goodwill itself would not have been purchase
[09:03.71]An acquirer could elect to treat a purchase of stock as a constructive30 purchase of assets for tax purpose and thereby31 come within the scope of this new provisio
[09:15.18]However, generally,this would not ahcieve the best tax result for an acquirer because of the immediate32 taxable gain on the difference between the purchase price and the tax basis of the asset
[09:26.86]In any contemplated acquistion, the effects of the proposed legislation should be reviewed in detail


點擊收聽單詞發音收聽單詞發音  

1 fixed JsKzzj     
adj.固定的,不變的,準備好的;(計算機)固定的
參考例句:
  • Have you two fixed on a date for the wedding yet?你們倆選定婚期了嗎?
  • Once the aim is fixed,we should not change it arbitrarily.目標一旦確定,我們就不應該隨意改變。
2 conversion UZPyI     
n.轉化,轉換,轉變
參考例句:
  • He underwent quite a conversion.他徹底變了。
  • Waste conversion is a part of the production process.廢物處理是生產過程的一個組成部分。
3 compute 7XMyQ     
v./n.計算,估計
參考例句:
  • I compute my losses at 500 dollars.我估計我的損失有五百元。
  • The losses caused by the floods were beyond compute.洪水造成的損失難以估量。
4 depreciation YuTzql     
n.價值低落,貶值,蔑視,貶低
參考例句:
  • She can't bear the depreciation of the enemy.她受不了敵人的蹂躪。
  • They wrote off 500 for depreciation of machinery.他們注銷了500鎊作為機器折舊費。
5 accounting nzSzsY     
n.會計,會計學,借貸對照表
參考例句:
  • A job fell vacant in the accounting department.財會部出現了一個空缺。
  • There's an accounting error in this entry.這筆賬目里有差錯。
6 expenditure XPbzM     
n.(時間、勞力、金錢等)支出;使用,消耗
參考例句:
  • The entry of all expenditure is necessary.有必要把一切開支入賬。
  • The monthly expenditure of our family is four hundred dollars altogether.我們一家的開銷每月共計四百元。
7 scrap JDFzf     
n.碎片;廢料;v.廢棄,報廢
參考例句:
  • A man comes round regularly collecting scrap.有個男人定時來收廢品。
  • Sell that car for scrap.把那輛汽車當殘品賣了吧。
8 obsolescence bIjxr     
n.過時,陳舊,廢棄
參考例句:
  • For some small unproductive mills,the reality is not merger but obsolescence and bankruptcy.對一些效率低下的小廠而言,現實不是合并,而是可能被淘汰和破產。
  • Finally,the cost approach can provide a basis for allocating penalties,specifically economic obsolescence.最后,成本法可作為一個分配因陳舊特別是因經濟
9 determined duszmP     
adj.堅定的;有決心的
參考例句:
  • I have determined on going to Tibet after graduation.我已決定畢業后去西藏。
  • He determined to view the rooms behind the office.他決定查看一下辦公室后面的房間。
10 annuity Kw2zF     
n.年金;養老金
參考例句:
  • The personal contribution ratio is voluntary in the annuity program.企業年金中個人繳費比例是自愿的。
  • He lives on his annuity after retirement.他退休后靠退休金維生。
11 digits a2aacbd15b619a9b9e5581a6c33bd2b1     
n.數字( digit的名詞復數 );手指,足趾
參考例句:
  • The number 1000 contains four digits. 1000是四位數。 來自《簡明英漢詞典》
  • The number 410 contains three digits. 數字 410 中包括三個數目字。 來自《現代英漢綜合大詞典》
12 pending uMFxw     
prep.直到,等待…期間;adj.待定的;迫近的
參考例句:
  • The lawsuit is still pending in the state court.這案子仍在州法庭等待定奪。
  • He knew my examination was pending.他知道我就要考試了。
13 tangible 4IHzo     
adj.有形的,可觸摸的,確鑿的,實際的
參考例句:
  • The policy has not yet brought any tangible benefits.這項政策還沒有帶來任何實質性的好處。
  • There is no tangible proof.沒有確鑿的證據。
14 goodwill 4fuxm     
n.善意,親善,信譽,聲譽
參考例句:
  • His heart is full of goodwill to all men.他心里對所有人都充滿著愛心。
  • We paid £10,000 for the shop,and £2000 for its goodwill.我們用一萬英鎊買下了這家商店,兩千英鎊買下了它的信譽。
15 incentive j4zy9     
n.刺激;動力;鼓勵;誘因;動機
參考例句:
  • Money is still a major incentive in most occupations.在許多職業中,錢仍是主要的鼓勵因素。
  • He hasn't much incentive to work hard.他沒有努力工作的動機。
16 incentives 884481806a10ef3017726acf079e8fa7     
激勵某人做某事的事物( incentive的名詞復數 ); 刺激; 誘因; 動機
參考例句:
  • tax incentives to encourage savings 鼓勵儲蓄的稅收措施
  • Furthermore, subsidies provide incentives only for investments in equipment. 更有甚者,提供津貼僅是為鼓勵增添設備的投資。 來自英漢非文學 - 環境法 - 環境法
17 deduct pxfx7     
vt.扣除,減去
參考例句:
  • You can deduct the twenty - five cents out of my allowance.你可在我的零用錢里扣去二角五分錢。
  • On condition of your signing this contract,I will deduct a percentage.如果你在這份合同上簽字,我就會給你減免一個百分比。
18 deduction 0xJx7     
n.減除,扣除,減除額;推論,推理,演繹
參考例句:
  • No deduction in pay is made for absence due to illness.因病請假不扣工資。
  • His deduction led him to the correct conclusion.他的推斷使他得出正確的結論。
19 deductions efdb24c54db0a56d702d92a7f902dd1f     
扣除( deduction的名詞復數 ); 結論; 扣除的量; 推演
參考例句:
  • Many of the older officers trusted agents sightings more than cryptanalysts'deductions. 許多年紀比較大的軍官往往相信特務的發現,而不怎么相信密碼分析員的推斷。
  • You know how you rush at things,jump to conclusions without proper deductions. 你知道你處理問題是多么倉促,毫無合適的演繹就倉促下結論。
20 premiums efa999cd01994787d84b066d2957eaa7     
n.費用( premium的名詞復數 );保險費;額外費用;(商品定價、貸款利息等以外的)加價
參考例句:
  • He paid premiums on his life insurance last year. 他去年付了人壽保險費。 來自《現代英漢綜合大詞典》
  • Moves are afoot to increase car insurance premiums. 現正在醞釀提高汽車的保險費。 來自《簡明英漢詞典》
21 Congressman TvMzt7     
n.(美)國會議員
參考例句:
  • He related several anecdotes about his first years as a congressman.他講述自己初任議員那幾年的幾則軼事。
  • The congressman is meditating a reply to his critics.這位國會議員正在考慮給他的批評者一個答復。
22 constraints d178923285d63e9968956a0a4758267e     
強制( constraint的名詞復數 ); 限制; 約束
參考例句:
  • Data and constraints can easily be changed to test theories. 信息庫中的數據和限制條件可以輕易地改變以檢驗假設。 來自英漢非文學 - 科學史
  • What are the constraints that each of these imply for any design? 這每種產品的要求和約束對于設計意味著什么? 來自About Face 3交互設計精髓
23 motive GFzxz     
n.動機,目的;adv.發動的,運動的
參考例句:
  • The police could not find a motive for the murder.警察不能找到謀殺的動機。
  • He had some motive in telling this fable.他講這寓言故事是有用意的。
24 adviser HznziU     
n.勸告者,顧問
參考例句:
  • They employed me as an adviser.他們聘請我當顧問。
  • Our department has engaged a foreign teacher as phonetic adviser.我們系已經聘請了一位外籍老師作為語音顧問。
25 favourable favourable     
adj.贊成的,稱贊的,有利的,良好的,順利的
參考例句:
  • The company will lend you money on very favourable terms.這家公司將以非常優惠的條件借錢給你。
  • We found that most people are favourable to the idea.我們發現大多數人同意這個意見。
26 allocated 01868918c8cec5bc8773e98ae11a0f54     
adj. 分配的 動詞allocate的過去式和過去分詞
參考例句:
  • The Ford Foundation allocated millions of dollars for cancer research. 福特基金會撥款數百萬美元用于癌癥研究。
  • More funds will now be allocated to charitable organizations. 現在會撥更多的資金給慈善組織。
27 taxpayers 8fa061caeafce8edc9456e95d19c84b4     
納稅人,納稅的機構( taxpayer的名詞復數 )
參考例句:
  • Finance for education comes from taxpayers. 教育經費來自納稅人。
  • She was declaiming against the waste of the taxpayers' money. 她慷慨陳詞猛烈抨擊對納稅人金錢的浪費。
28 savings ZjbzGu     
n.存款,儲蓄
參考例句:
  • I can't afford the vacation,for it would eat up my savings.我度不起假,那樣會把我的積蓄用光的。
  • By this time he had used up all his savings.到這時,他的存款已全部用完。
29 covenants 185d08f454ed053be6d340821190beab     
n.(有法律約束的)協議( covenant的名詞復數 );盟約;公約;(向慈善事業、信托基金會等定期捐款的)契約書
參考例句:
  • Do I need to review the Deed of mutual Covenants (DMC)? 我是否需要覆核公共契約(DMC)嗎? 來自互聯網
  • Many listed and unlisted companies need to sell to address covenants. 許多上市公司和非上市公司需要出售手中資產,以滿足借貸契約的要求。 來自互聯網
30 constructive AZDyr     
adj.建設的,建設性的
參考例句:
  • We welcome constructive criticism.我們樂意接受有建設性的批評。
  • He is beginning to deal with his anger in a constructive way.他開始用建設性的方法處理自己的怒氣。
31 thereby Sokwv     
adv.因此,從而
參考例句:
  • I have never been to that city,,ereby I don't know much about it.我從未去過那座城市,因此對它不怎么熟悉。
  • He became a British citizen,thereby gaining the right to vote.他成了英國公民,因而得到了投票權。
32 immediate aapxh     
adj.立即的;直接的,最接近的;緊靠的
參考例句:
  • His immediate neighbours felt it their duty to call.他的近鄰認為他們有責任去拜訪。
  • We declared ourselves for the immediate convocation of the meeting.我們主張立即召開這個會議。
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