Otázky na finančné účtovníctvo /Financial accounting questions: Charakter účtov sa myslí a pri tejto otázke je potrebné určiť , či je to“ účet aktív, CZ a VZ, výnosov či nákladov, resp. kontra účet k... a kde má „normal balance“ t.j. kde sa na tomto účte účtujú prírastky a kde má účet zač. a kon. zostatok 1. Čo je aktívum, cudzí zdroj, vlastný zdroj? What is asset, liability and equity, define! Assets - Resources owned by a business. Liabilities - The debts and obligations of a business. Liabilities represent the amounts owed to creditors. Stockholders’ equity - The owners’ claim to assets. 2. Čo je výnos a zisk ? Aký rozdiel je medzi výnosom a ziskom ? What is revenue and gain? Revenue - The increase in assets that result from the sale of a product or service in the normal course of business. Amounts earned on the sale. Gain - výnosy/zisky z vedľajších činnosti; are increases in the business’s financial holdings resulting from peripheral activities unrelated to its main operations. A gain is the amount received that is in excess of the asset's book value. revenue/ expenses - výnosy/ náklady, ktoré vznikajú v hlavných a vyskytujúcich sa činnostiach. 3. Čo je náklad a strata? Aký rozdiel je medzi nákladom a stratou ? What is expense and loss: What is the difference between them? Expenses - The cost of assets consumed or services used in the process of generating revenues. Loss - náklady/straty z vedľajších činnosti; The amount by which expenses exceed revenues. 4. Aké činnosti sa rozlišujú v globálnom účtovníctve (IFRS a US GAAP) (matica) a charakterizujte ich? Uveďte príklady min. 2!!! What activities do we distinguish in Global accounting and characterize them (IFRS a US GAAP) (matrix)? Tell examples min. 2!!! vyskytujúce sa jednorázové hlavné č. - primárne expenses/revenues končiace - zisk/strata z predaja majetku divízie pri ukončení jej činnosti vedľajšie č. - periférne gains/losses mimoriadne - pri IFRS neexistuje; US.GAAP: straty z prírodnej katastofy v IFRS Bežná činnosť Mimoriadna činnosť 1 occuring one time occuring hlavné č. - primary expenses/revenues gains or losses from discontinued operations vedľajšie č. - peripheral gains/losses extraordinary - in IFRS doesnt exist; US.GAAP: natural catastrophe IFRS ordinary activity extraordinary activity Financing activities = The two primary sources of outside funds are borrowing money and issuing (selling) shares of stock in exchange for cash. Investing activities = purchase of the resources a company needs in order to operate Operating activities = those that pertain to a company's core business activities, such as manufacturing, distributing, marketing and selling a service. 5. Čo je to výkaz ziskov a strát? Define the income statement. The income statement reports on the success or failure of the company’s operations by reporting its revenues and expenses for a period of time. The income statement lists the company’s revenues followed by its expenses. It determines the net income (or net loss) by deducting expenses from revenues. 6. Čo sú hlavné činnosti? Charakterizujte ich. What are main (primary) activities? Characterize them. For a retailer, wholesaler, and distributor the primary activities would be the buying of merchandise and then the sale of that merchandise. A manufacturer's primary activities would be the production and sale of products. 7. Čo sú vedľajšie činnosti? Charakterizujte ich. What are secondary (peripheral ) activities? A company's activities outside of its main activities of buying/producing and selling. Examples include a retailer's financing function involving interest revenue and interest expense, disposal of long term assets used in the business, lawsuit settlements, renting out unused space, etc. 8. Povedzte príklady pre minimálne dva výnosy a dva náklady, ktoré sú hlavné a vyskytujúce sa bežne. Tell examples minimum 2 of revenues and expenses, that are main and occuring. Výnosy - Tržby z predaja služieb, Sales revenue, service revenue, interest revenue Náklady - Náklady na predaný tovar - COGS, selling expense, marketing expense, 2 9. Povedzte príklady pre minimálne dva výnosy a dva náklady, ktoré sú vedľajšie a vyskytujúce sa bežne. Tell examples minimum 2 of revenues and expenses, that are secondary and occuring. kurzové zisky, kurzové straty, strata z predaja realizovateľných CP, zisk z predaja DHM 10. Povedzte príklad pre výnosovú a nákladovú položku, ktorá je hlavná a jednorázovo sa vyskytujúca. Tell 1 example of Revenue/gain and Expense/Loss, that is main and one-time-occuring. zisk/ strata z predaja majetku divízie, pri ukončení jej činnosti 11. Povedzte príklad pre výnosovú a nákladovú položku, ktorá je vedľajšia a jednorázovo sa vyskytujúca. Tell 1 example of Revenue/gain and Expense/Loss, that is peripheral and one-time-occuring. zisky/ straty z prírodnej katastrofy 12. Čo sú čisté tržby? Aké sú jednotlivé účty podľa charakteru? What are net sales? What character are these accounts of (involved in net sales calculation)? Net sales are the sum of a company's gross sales minus its returns, allowances, and discounts. Net sales = sales revenue - sales returns - allowances - sales discount Zo sales revenues treba odpočítať Sales returns and allowances a sales discount (contra účty), aby sme dostali net sales. Sales Revenue - Revenue account, normal balance on credit Sales Discounts - Contra Revenue account, normal balance on debit Sales Returns & Allowances - Contra Revenue account, normal balance on debit 13. Vysvetlite čo je skonto pri predaji a skonte pri nákupe zásob? Aké sú jednotlivé účty podľa charakteru? Explain what is sales discount and purchase discount? What is the difference? What is the character of the accounts? Purchase discount - The credit terms of a purchase on account may permit the buyer to claim a cash discount for prompt payment. The buyer call this cash discount a purchase discount. Advantages: the pur3chaser saves money, and the seller is able to shorten the operating cycle by converting the accounts receivable into cash earlier. Purchase discount is a contra expense account and its normal balance is on credit. Sales discount - The seller offer the customer a cash discount for the prompt payment of the balance. This cash discount is called by the seller a Sales discount. Sales discount is a contra revenue account to Sales Revenue. Its normal balance is a debit. Purchase discount- are the reductions that retailers and stores get from their wholesalers. These are offered because the retailers buys products in bulk or for early payment of an invoice 3 Sales discount- retailer offers cash discount for customers, 50% off. Seller reduce their operating cycle 14. Kde sa bude účtovať vrátený tovar pri predaji a pri nákupe? Aké sú jednotlivé účty podľa charakteru? Where are returned goods at the sale or at the purchase accounted for? What is the character of the accounts? At the sale: Sales returns & Allowances Accounts receivable Dr. x Cr. x At the purchase: Accounts payable Purchase Returns and Allowances x x Purchase Returns and Allowances Illustration: Sauk Stereo returns $300 of goods to PW Audio Supply and prepares the following entry to recognize the return. May 8 Accounts payable 300 Purchase returns and allowances 300 Purchase Discounts Illustration: On May 14 Sauk Stereo pays the balance due on account to PW Audio Supply, taking the 2% cash discount allowed by PW Audio for payment within 10 days. Sauk Stereo records the payment and discount as follows. May 14 Accounts payable Purchase discounts Cash 3,500 70 3,430 Sales Returns and Allowances - contra revenue Illustration: To record the returned goods received from Sauk Stereo on May 8, PW Audio Supply records the $300 sales return as follows. May 4 Sales returns and allowances Accounts receivable 300 300 Sales Discounts Illustration: On May 14, PW Audio Supply receives payment of $3,430 on account from Sauk Stereo. PW Audio honors the 2% cash discount and records the payment of Sauk’s account receivable in full as follows. May 14 Cash 3,430 4 Sales discounts Accounts receivable 70 3,500 15. Čo znamená a kde sa bude účtovať rabat, zľava na predaný tovar, výrobok zákazníkom pri predaji a pri nákupe? Aké sú jednotlivé účty podľa charakteru? Where is allowance for the goods at the sale or at the purchase accounted for? What is the character of the accounts? Sales discounts + acc. Receiv./payable + cash At the sale: Sales Returns & Allowances Accounts Receivable Dr. x Cr. x At the purchase: Accounts Payable Purchase Allowances x x Charakter účtov = Sales r&a - Contra revenue, normal balance debit acc. receivable - asset, normal balance debit acc. payable - liability, normal balance credit Purchase all. - contra expense, normal balance credit 16. Čo je množstevná zľava pri nákupe zásob? Ako sa o jej poskytnutí bude účtovať na strane nakupujúceho? Kde sa to vykáže v účtovníctve? What is the volume discount or discount granted on bulk purchases of inventory? How is this accounted for? Where is this reported in accounting? A volume discount is a financial incentive to encourage individuals or businesses to purchase goods in multiple units or in large quantities. The seller or manufacturer rewards those buying in bulk by providing a reduced price for each good or group of goods. Volume discounts allow businesses to purchase additional inventory at reduced cost and allow sellers or manufacturers to reduce inventory by selling more units to incentivize buyers. If you purchase $1000 of goods having a trade discount of 20%, you can debit Purchases (periodic system) or Inventory (perpetual system) for $800 and Accounts Payable for $800. Inventory Accounts payable x x 17. Čo je množstevná zľava at the sale? Ako sa o tom bude účtovať u predajcu tovaru? What is the volume discount or discount given on bulk purchases of inventory? How is this accounted for? Where is this reported in accounting? 5 A volume discount is a financial incentive to encourage individuals or businesses to purchase goods in multiple units or in large quantities. The seller or manufacturer rewards those buying in bulk by providing a reduced price for each good or group of goods. Volume discounts allow businesses to purchase additional inventory at reduced cost and allow sellers or manufacturers to reduce inventory by selling more units to incentivize buyers. Accounts receivable Inventory x x 18. Vysvetlite zápis : 2/10, n/30? a čo to je? Prečo je to potrebné? Explain: : 2/10, n/30 and what is it? Why is it needed? 2% discount if buyer paid within 10 days, otherwise net amount due within 30 days. Credit terms may permit buyer to claim a cash discount for prompt payment. Advantages: · Purchaser saves money. · Seller shortens the operating cycle. 19. Čo je hrubý zisk? Čo znamená percento hrubého zisku? What is gross profit? What does gross margin percentage express? Companies deduct cost of goods sold from net sales to determine gross profit. Gross profit is the profit a company makes after deducting the costs associated with making and selling its products. Gross profit = Revenue (net sales) - Cost of Goods Sold Net sales $ 460,000 Cost of goods sold 316,000 Gross profit $144,000 The profit margin ratio measures the percentage of each dollar of sales that results in net income. We compute this ratio by dividing net income by net sales (revenue) for the period. The profit margin ratio measures the extent by which selling price covers all expenses (including cost of goods sold). Profit Margin Ratio = Net Income/ Net Sales 20. Aké formy výkazu ziskov a strát poznáme? What forms may the income statement be prepared in? Single - step income statement - The statement is so named because only one step, subtracting total expenses from total revenues, is required in determining net income (or net loss). In a single-step statement, all data are classified into two categories: (1) revenues, which include both operating revenues and nonoperating revenues and gains (for example, interest revenue and gain on sale of equipment); and (2) expenses, which include cost of goods sold, operating expenses, and nonoperating expenses and losses 6 Multiple-step income statement - The multiple-step income statement has three important line items: gross profit, income from operations, and net income. 21. Aké sú kategórie prevádzkových nákladov podľa funkcie? Uveďte príklady min. 3 na každú kategóriu. What are categories of operating expenses based on the function? Write 3 examples per each category? An income statement by function is the one in which expenses are disclosed according to the different functions they are spent on (cost of goods sold, selling, administrative, etc.) This method allows us to calculate gross profit and operating profit within the income statement, and therefore is usually used in the multi-step format of income statement. Administration expenses- office supplies, insurance, accounting exp. Financing expenses- income taxes, interest, expenditure from owning or renting asset or property Manufacturing expenses- material expense, wages, energy expense, utilities exp. Selling expenses- COGS, salaries, advertising exp. 22. Aké sú kategórie prevádzkových nákladov podľa podstaty? Uveďte príklady min. 3 na každú kategóriu. What are categories of operating expenses based on the nature? Write 3 examples per each category? An income statement by nature method is the one in which expenses are disclosed according to what categories they are spent on, such as raw materials, transport costs, staffing costs, depreciation, employee benefit etc. The expenses will not be further classified into their functions (i.e cost of goods sold, selling, administrative, etc). This method of disclosure of expenses is used in single step income statement. repairs expense, salaries expense, and utilities expense. 23. Vykazujú sa položky bežných činností v brutto alebo netto hodnote? Ako to viete vyčítať z výkazu ziskov a strát? Are continuous operations reported in brut or net value? How can you read this from the income statement? Brutto, pretože income tax sa pripočítava až po vyrátaní nezdaneného zisku z týchto operácií. 24. Čo sú končiace operácie? Popíšte ich a koľko zvyčajne položiek sa vykazuje na výsledovke? What are discontinued operations? Characterize them, how many items are reported within discontinued operations? 7 refers to the disposal of a significant component of a business, such as the elimination of a major class of customers or an entire activity. When the disposal of a significant component occurs, the income statement should report the gain (or loss) from discontinued operations, net of tax. 25. Uveďte kde sa vykazujú končiace operácie vo výkaze ziskov a strát? Where are discontinued operations reported within the income statement? . in a separate section entitled “Discontinued operations.” 26. Vykazujú sa končiace operácie v brutto alebo netto hodnote? Are discontinued operations reported in brut or net value? Netto hodnota 27. Aký je rozdiel medzi výkazom ziskov a strát v jednoduchej a zloženej forme? What is the difference between single-step and multistep income statement ? Single - step income statement - The statement is so named because only one step, subtracting total expenses from total revenues, is required in determining net income (or net loss). In a single-step statement, all data are classified into two categories: (1) revenues, which include both operating revenues and nonoperating revenues and gains (for example, interest revenue and gain on sale of equipment); and (2) expenses, which include cost of goods sold, operating expenses, and nonoperating expenses and losses A second form of the income statement is the multiple-step income statement - The multiple-step income statement has three important line items: gross profit, income from operations, and net income. 28. Aké položky sa vykazujú v časti prevádzkových výnosov ako „Other income/expense“? What items can be reported within operating items „Other Income/expense“? Sale of long-term assets (gains or losses) Impairment of assets Restructuring charges Rent revenue 8 Dividend revenue Interest revenue zmluvné pokuty, penále a úroky z omeškania, zúčtovanie rezerv a podobne (Contractual fines, penalties and interest on late payment, settlement of reserves, etc.). 29. „Other Income/expense“ sú investičné či finančné položky výnosov a nákladov? „Other Income/expense“ are investing or financing items of revenue/gains and expense/loss? ??? prečo ??? finančné položky Nonoperating activities - consist of various revenues and expenses and gains and losses that are unrelated to the company’s main line of operations. The results of nonoperating activities are shown in the categories “Other revenues and gains” and “Other expenses and losses.” preco??? PLS HELP 30. Čo je Iný komplexný výsledok hospodárenia? What is other comprehensive Income? Iný komplexný výsledok hospodárenia obsahuje nezrealizované zisky,straty,náklady,výnosy. Other comprehensive income is those revenues, expenses, gains, and losses that are excluded from net income on the income statement. This means that they are instead listed after net income on the income statement. 31. Čo je nezrealizovaný zisk/strata? Povedzte 2 príklady v ktorých situáciách to môže vzniknúť. What is unrealized gain or loss? Say 2 examples in which transactions it may arise. Unrealized gain or loss are gains or losses that have occurred on paper, but the relevant transactions have not been completed. Increases or decreases in value of assets or shares. An unrealized gain is an increase in the value of an asset that has not been sold. A common example of an unrealized gain is an increase in the price of shares designated as available-for-sale by the holder of the shares. An unrealized loss is a loss that results from holding onto an asset after it has decreased in price, rather than selling it and realizing the loss. 32. Čo je komplexný výsledok hospodárenia? What is Comprehensive Income? Komplexný VH je definovaný ako zmeny vo vlastnom imaní účtovnej jednotky. Comprehensive income is the variation in a company's net assets from non-owner sources during a specific time period. 33. Aký je rozdiel medzi Iným komplexným výsledkom hospodárenia a Komplexným výsledkom hospodárenia? 9 What is the difference between Other comprehensive income a Comprehensive Income. Komplexný VH je definovaný ako zmeny vo vlastnom imaní účtovnej jednotky. Iný komplexný výsledok hospodárenia obsahuje nezrealizované zisky,straty,náklady,výnosy. Comprehensive income is used to measure the change in an owner's interest in a business. This is done by charting the change in a company's net assets from non-owner sources, including all income and expenses that usually bypass the income statement because they have not yet been realized. Other comprehensive income is a catch-all for all of the items that cannot be included in typical profit and loss calculations. 34. Aký je rozdiel medzi „výkazom súvaha“ a výkazom Statement of Financial position? What is the difference between Balance sheet and the Statement of Financial position? Statement of Financial Position is just another title for Balance sheet, IFRS recommends but does not require using the title Statement of Financial Position. 35. Čo sú peňažné ekvivalenty? What are Cash equivalents? Vysoko likvidné aktíva, ktoré sa dá ľahko premeniť na cash, obsahujú minimálne riziko, že sa ich cena mení, krátkodobé. Napr. krátkodobé cenné papiere, terminované vklady, šeky, vkladové listy, poštové poukážky 36. Ako sa delí krátkodobý finančný majetok? What are 3 categories for Current financial assets (Short term investments or marketable securities)? - held-to-maturity (držané do splatnosti) - dlhopisy, dlhodobé/krátkodobé, vykazujú sa v diskontovanej hodnote - trading (obchodovateľné) - dlhopisy/akcie, krátkodobé, výnos vo forme dividend, akcie iných podnikov, najrizikovejšie - available-for-sale (určené na predaj) - dlhopisy/akcie, krátkodobé/dlhodobé, menšie riziko Cash + Cash Equivalents + Inventory + Accounts Receivables + Marketable Securities + Prepaid Expenses + Other Liquid Assets 1,Cash + Cash Equivalents 2,short-term investments 3,receivables 37. Čo to znamená investovať do dlhových cenných papierov? What does it mean if you invest into debt securities? majú určenú splatnosť, účtovná jednotka má úmysel držať ich do doby splatnosti, základným znakom je návratnosť investície 10 Debt issuers sell bonds to investors as a way of borrowing money. Debt security refers to a debt instrument, such as a government bond, corporate bond, certificate of deposit (CD), municipal bond or preferred stock, that can be bought or sold between two parties and has basic terms defined, such as notional amount (amount borrowed), interest rate, and maturity and renewal date.When an investor buys a corporate bond, he is essentially loaning the corporation money, and he has the right to be repaid the principal and interest on the bond. In the event that the corporation goes bankrupt, it pays bondholders before shareholders. 38. Čo to znamená investovať do majetkových cenných papierov? What does it mean if you invest into equity securities? za účelom obchodovania Equity securities represent a claim on the earnings and assets of a corporation, while debt securities are investments into debt instruments. For example, a stock is an equity security, while a bond is a debt security.When someone buys a stock from a corporation, he essentially buys a piece of the company. If the company profits, he profits as well, but if the company loses money, his stock also loses money. 39. Ktoré cenné papiere môžu byť iba krátkodobé? Which marketable securities can be only short-term? šeky, zmenky, štátne pokladničné poukážky - splatnosť do 1 roka Short-term investments (also called marketable securities) are securities held by a company that are (1) readily marketable and (2) intended to be converted into cash within the next year or operating cycle, whichever is longer READILY MARKETABLE. An investment is readily marketable when it can be sold easily whenever the need for cash arises. INTENT TO CONVERT. Intent to convert means that management intends to sell the investment within the next year or operating cycle, whichever is longer. 40. Posúďte riziko jednotlivých kategórií krátkodobého finančného majetku. Explain the level of the risk linked to the short-term investments. Riziko je nízke, len v majetkových cenných papieroch sa môžeme stretnúť s vyšším rizikom keďže ide o cenné papiere, s ktorými na trhu obchodujeme. 41. Ako oceňujeme jednotlivé kategórie KFM v čase účtovnej závierky? How do we measure short-term investments at the balance sheet date? Held-to-maturity - amortized cost Trading - fair value Available-for-Sale - fair value 42. Čo to znamená, že cenné papiere na obchodovanie sa účtujú výsledkovo? Z daňového pohľadu. What does it mean the trading securities are accounted for via income statement from taxation point of view? 11 Na účtovanie CP, ktoré sa predávajú a nakupujú sa používajú účty, ktoré sú svojim druhom výsledkové. Na týchto účtoch sa evidujú náklady a výnosy a preto ovplyvňujú výsledok hospodárenia (daňové hľadisko). Napr. účet 561 – Predané CP a podiely, účet 661 – Tržby z predaja CP a podielov. 43. Čo to znamená, že ostatné realizovateľné cenné papiere sa účtujú metódou vlastného imania? Z daňového pohľadu. What does it mean that Available-for-sale-securities are accounted for using equity method from taxation point of view? Firma, ktorá vlastní podiel v inej spoločnosti musí pri účtovnej závierky zistiť reálnu hodnotu svojho podielu. Zo súvahy danej firmy si zistí hodnotu vlastného imania a podľa toho koľko % má podiel si to vyčísli a zaúčtuje. 44. Aké sú zásoby pre podnik poskytujúci služby? Charakterizujte ich. What are inventories for service company? Characterize them. žiadne tovar- podnik to ďalej predáva, v kaderníctve predaj prípravkov na starostlivosť o vlasy prevádzkové látky- hmoty potrebné na prevádzku podniku ako celku výrobky - ktoré sú určené na spotrebu vo vnútri podniku 45. Aké sú zásoby pre výrobný podnik? Charakterizujte ich a vymenujte. What are inventories for manufacturing company? Characterize them and name them. polotovary vlastnej výroby- základné ingrediencie celkovej produkcie, procesom výroby sa z nich vytvára požadovaný produkt nedokončená výroba- produkty, kt. potrebujú byť dokončené pred predajom tovary- produkty na predaj In a manufacturing company, some inventory may not yet be ready for sale. As a result, manufacturers usually classify inventory into three categories: finished goods, work in process, and raw materials. Finished goods inventory is manufactured items that are completed and ready for sale. Work in process is that portion of manufactured inventory that has begun the production process but is not yet complete. Raw materials are the basic goods that will be used in production but have not yet been placed into production. 46. Aké sú zásoby pre podnik zaoberajúci sa predajom zásob.? Charakterizujte ich a vymenujte. What are inventories for merchandise company? Characterize them. 1, vlastní ich podnik 2, sú v stave okamžitého predaja In a merchandising company, inventory consists of many different items. For example, in a grocery store, canned goods, dairy products, meats, and produce are just a few of the inventory items on hand. These items have two common characteristics: (1) They are owned by the company, and (2) they are in a form ready for sale to customers in the ordinary course of business. Thus, merchandisers need only one inventory classification, merchandise inventory, to describe the many different items that make up the total inventory. 12 47. Ako oceňujeme zásoby v a) čase nadobudnutia, b) v čase účtovnej závierky a c) v čase vyradenia zo skladu? Aké princípy sa uplatňujú v a) a b).? Vymenujte iba oceňovacie veličiny How do we measure inventories a) at the acquisition date, b) at the balance sheet date and at the time of disposal? What measuring concepts are applied in a) and b)? a) čase nadobudnutia - historická cena b) v čase účtovnej závierky - lower of cost or market c) v čase vyradenia zo skladu Inventory Costing - Inventory is accounted for at cost. Cost includes all expenditures necessary to acquire goods and place them in a condition ready for sale. For example, freight costs incurred to acquire inventory are added to the cost of inventory, but the cost of shipping goods to a customer are a selling expense. After a company has determined the quantity of units of inventory, it applies unit costs to the quantities to determine the total cost of the inventory and the cost of goods sold. This process can be complicated if a company has purchased inventory items at different times and at different prices. ??? 48. Čo znamená čistá zrealizovateľná hodnota u pohľadávok? Aké sú to účty aký character majú? What is net realizable value of receivable? Of what character are these 2 acoounts? Cash (net) realizable value is the net amount a company expects to receive in cash from receivables. It excludes amounts that the company estimates it will not collect. Estimated uncollectible receivables therefore reduce receivables on the balance sheet through use of the allowance method. In the case of accounts receivable, net realizable value (NRV) is the amount that is expected to turn to cash. (Some authors refer to it as the cash realizable value.) Net realizable value can also be expressed as the debit balance in the asset account Accounts Receivable minus the credit balance in the contra asset account Allowance for Uncollectible Accounts. For example, if Accounts Receivable has a debit balance of $100,000 and the Allowance for Doubtful Accounts has a proper credit balance of $8,000, the resulting net realizable value of the accounts receivable is $92,000. 49. Čo vyčíslime pri použití metódy Percento z tržieb? What do we get as a result by using the method of Percentage of Sales? The percentage of sales method is a system a company can use to anticipate changes in its balance sheet and income statement during the next time period it would like to review. 50. Čo vyčíslime pri použití metódy percento z konečného zostatkou odberateľských pohadávok? What do we get as a result by using the method of Percentage of Ending Receivables? bad debt, nieco co prenasam do dalsieho roka…. 13 51. Čo je obstarávacia cena pozemku? What does the acquisition cost of the land is? -nákupná cena-cena obstarania, -všetky N, ktoré vznikli v procese nadobudnutia pozemku a prípravy na jeho použitie a ktoré sa zahrnú do obstarávacej ceny. Sú to napr.: -N na práce, ktoré relatívne permanentne vylepšia hodnotu aktíva - pozemku napr. vybudovanie chodníkov, vyrovnávacie a čistiace práce, -akékoľvek nevysporiadaná záležitosti, vyžiadajúce si finančné poplatky, zástavné práva, hypotéky k danému majetku atď. -akékoľvek N na rekultiváciu pozemku s odhadovanou neobmedzenou dobou použitia, -N na demoláciu a odstránenie starej budovy z pozemku 52. Čo je obstarávacia cena stavby a strojového zariadenia? What is the acquisition cost of the building and machinary (PPE) ? V prípade stavieb obstarávacia cena zvyčajne zahŕňa: -N na materiál, prácu a výrobnú réžiu, ktoré vznikli počas výstavby, -Akékoľvek poplatky spojené s vybavením potvrdení ako aj povolenie k výstavbe, právnické poplatky, poplatky architektovi atď. -všetky N, ktoré vznikli počnúc výkopovými prácami na stavenisku, až po skolaudovanie budovy a ktoré vstupujú do obstarávacej ceny v prípade SHV: -Nákupná cena - cena obstarania, -Všetky N, ktoré vznikli následne po nadobudnutí, ale pred uvedením do užívania a ktoré sa zahrnú do obstarávacej ceny ( napr. N na dopravu, poistenie majetku počas dopravy, montáž a inštalácia, špeciálnu prípravu priestorov a výdavky na testovanie zariadenia na vykonanie skúšobných chodov). 53. Vymenujte 6 kategórií nehmotného majetku aj s 1 príkladom. Name the 6 categories of the intangibles also say one example for each category? . - marketing-related: trademarks, tradenames - customer-related: customer list, orders - artistic-related: ownership rights to plays, literary works, musical works - contract-related: franchise, license - technology-related: patents - goodwill: dobré meno, dobrá povesť 54. Aký je rozdiel medzi NM, ktoré má obmedzenú dobu použitia a tým s neobmedzenou dobou použitia? Uveďte po jednom príklade na každý. What is the difference between indefinite and limited life intangibles? Say 1 example for each. 14 If an intangible has a limited life, the company allocates its cost over the asset’s useful life using a process similar to depreciation. The process of allocating to expense the cost of intangibles is referred to as amortization. The cost of intangible assets with indefinite lives should not be amortized. Example: Indefinite - Goodwill, trademarks Limited Life - Copyrights, patents 55. Definujte goodwill? What is the goodwill? Goodwill - represents the value of all favorable attributes that relate to a company that are not attributable to any other specific asset. These include exceptional management, desirable location, good customer relations, skilled employees, high-quality products, fair pricing policies, and harmonious relations with labor unions. Goodwill - súbor nemateriálnych prvkov, ktoré zvyšujú hodnotu firmy - dobré meno, dobrá povesť - indefinite life, never amortized 56. Čo je emisná hodnota dlhopisu? Vysvetlite peňažné toky spojené s 3-ročným, 5-% - dlhopisom, istiny 20000 EUR, platiacim úrok p.s. u investora/emitenta. What is the cost of an issued bond? Explain cash flows linked with the 3-year, 5% bonds, principal 20000EUR, paying interest p.s. at investors/issuer´s side . Bond issue costs are the fees associated with the issuance of bonds by an issuer to investors. Bond issue costs may include: accounting fees, commissions, legal fees, printing costs, registration fees, underwriting fees. Issuing the Bonds If the business issues the bond, then it will report all related cash transactions in the financing section. When the bond is issued, the business receives cash. That cash amount is reported as an inflow on the statement for the year when the bond issued. In future years, the company normally pays interest until the bond is eventually repaid. Every year the company pays cash to service the outstanding bonds, that amount is reported as an outflow in the financing section. Acquiring Bonds Sometimes businesses will acquire the bonds of other companies as an investment. If the business holds any bonds, all related cash transactions will affect the investing activities section of the statement. When the business purchases the bond, the amount paid will be listed as an outflow. During the term of the bond, any interest payment the business receives will be listed as cash inflow on the statement of the year the interest payment is received. When the bond is repaid, the business will record the amount as inflow. 15 57. Aký je rozdiel medzi: zmenkou na inkaso a zmenkou na úhradu?/medzi faktoringom a a forfaitingom? What is the difference between note receivable and note payable? Between factoring and forfaiting? Notes receivable is an asset of a company, bank or other organization that holds a written promissory note from another party. Notes Payable is a general ledger account in which a company records the face amounts of the promissory notes that it has issued. 58. V akej hodnote sa oceňuje dlhopis držaný do doby splatnosti? What value do we measure long H-t-M securites in? At amortized cost. 59. Vymenujte typy DFM. Name categories of long term investments? Long-term investments are generally: (1) investments in stocks and bonds of other corporations that are held for more than one year, and (2) long-term assets such as land or buildings that a company is not currently using in its operating activities. 60. Čo to znamená technické vylepšenie majetku, ktorý sme nadobudli finančným lízingom? What does it mean leasehold improvements? A leasehold improvement is a change made to a rental property to customize it for the particular needs of a tenant. Leasehold improvements, such as painting, installing partitions, changing the flooring or putting in customized light fixtures can either be undertaken by landlords, who may offer to do so to increase the marketability of their rental units, or by the tenants themselves. 61. Čo je kupón alebo menovitá úroková sadzba pre dlhopis? What is stated interest rate? Contractual (stated) interest rate - Rate used 16 to determine the amount of interest the borrower pays and the investor receives. Recall that contractual interest rate is the rate applied to the face (par) value to arrive at the interest paid in a year. 62. Čo je efektívna úroková sadzba pre dlhopis? What is the effective interest rate for the bond? Effective-interest rate - Rate established when bonds are issued that remains constant in each interest period. The market interest rate is the rate investors demand for loaning funds to the corporation. When the contractual interest rate and the market interest rate are the same, bonds sell at face value. 63. Čo to znamená emitovať dlhopis pri vzniku prémie, diskontu alebo v hodnote „par“. What does it mean to issue bond at par, discount and at premium? At Par means that the bond is trading at its face value or par value. At Premium means that bond is trading above its par value. Discount Bond is a bond that is issued for less than its par value. 64. Aký je rozdiel medzi peňažnými dividendami a akciovými dividendami? What is the difference between cash dividends and stock dividends? A cash dividend is a pro rata (proportional to ownership) distribution of cash to stockholders. Cash dividends are not paid on treasury shares. A stock dividend is a pro rata (proportional to ownership) distribution of the corporation’s own stock to stockholders. Whereas a cash dividend is paid in cash, a stock dividend is paid in stock. A stock dividend results in a decrease in retained earnings and an increase in paid-in capital. 65. Čo to je rozdelenie akcií„1-za-4“ -„stock splitting“ a čo sú Vlastné akcie, kde sa obe položky vykážu? What does it mean 1-for-4 stock splitting and treasury stock? Where are these two items reported? Stock splitting - A stock split, like a stock dividend, involves the issuance of additional shares of stock to stockholders according to their percentage ownership. However, a stock split results in a reduction in the par or stated value per share. The purpose of a stock split is to increase the marketability of the stock by lowering its market value per share. This, in turn, makes it easier for the corporation to issue additional stock. It does not change the percentage of the total company that the shareholder owns. In a stock split, the company increases the number of shares in the same proportion that it decreases the par or stated value per share. A stock split does not have any effect on paid-in capital, retained earnings, and total stockholders’ equity. However, the number of shares outstanding increases. Treasury stock - Treasury stock is a corporation’s own stock that has been reacquired by the corporation and is being held for future use. A corporation may acquire treasury stock for various reasons: 17 1. To reissue the shares to officers and employees under bonus and stock compensation plans. 2. To increase trading of the company’s stock in the securities market. 3. To have additional shares available for use in acquiring other companies. 4. To reduce the number of shares outstanding and thereby increase earnings per share. The purchase of treasury stock is generally accounted for by the cost method - companies increase (debit) Treasury Stock by the price paid to reacquire the shares. Treasury Stock decreases by the same amount when the company later sells the shares. Treasury Stock is a contra stockholders’ equity account. 66. Ako vyčíslime efektívny úrok pri emitovaných dlhopisoch hneď pri vyplatení prvého úroku investorom? How do we calculate effective interest at the date of the first cash interest payment? Under the effective interest rate method the amount of interest expense in a given accounting period will correlate with the amount of a bond's book value at the beginning of the accounting period. This means that as a bond's book value increases, the amount of interest expense will increase. 67. Čo je EPS základný? Ktoré položky spôsobujú zriedenie EPS? Uveďte aspon jeden príklad. What is Earning per share -EPS basic? What items cause EPS dilution? Say at least example. EPS - measures the net income earned on each share of common stock. We compute EPS by dividing net income by the average number of common shares outstanding during the year. 68. Vysvetlite pojem menšinový podiel? Explain the term: minority interest? ownership of less than 50% of a subsidiary's equity by an investor or a company other than the parent company. 69. Vymenujte krátkodobých záväzkov? Name 5 short- term liabilities. Current liabilities are obligations that the company is to pay within the coming year or operating cycle, whichever is longer. Common examples are accounts payable, wages payable, bank loans payable, interest payable, and taxes payable. 70. Aké položky patria do kategórie finančné náklady? Menujte aspoň jednu. What items are included into Financial costs?, name at least one. 18 vznikajú pri finančných operáciách (platené úroky, vzniknuté kurzové straty,...) -výdavky za vedenie bankových účtov, za uskutočnenie platobných príkazov, poistné finančného majetku 71. Ako vyčislíme dĺžku pracovného cyklu v dňoch? Vysvetlite čo to znamená? A ktorý účtovná transakcia je dôležitá pre daný ukazovateľ? What is working capital cycle in days? Explain the meaning of it and what accounting transactions are important for this indicator? WORKING CAPITAL. One measure of liquidity is working capital, which is the difference between the amounts of current assets and current liabilities. When current assets exceed current liabilities, working capital is positive. When this occurs, there is greater likelihood that the company will pay its liabilities. When working capital is negative, a company might not be able to pay short-term creditors, and the company might ultimately be forced into bankruptcy. 72. Ako vyčíslime obrátkovosť dodaváteľských záväzkov? Vysvetlite čo to znamená? Ktorá účtovná transakcia je dôležitá pre daný ukazovateľ? How do we calculate Acc payable turnover? What does it mean and what accounting transactions are important for this indicator? The accounts payable turnover ratio is a short-term liquidity measure used to quantify the rate at which a company pays off its suppliers. Important accounting transactions are accounts payable and Supplier purchases. 73. Ako vyčíslime obrátkovosť pohľadávok? Vysvetlite čo to znamená? Ktorá účtovná transakcia je dôležitá pre daný ukazovateľ? How do we calculate Acc receivable turnover? What does it mean and what accounting transactions are important for this indicator? The ratio that analysts use to assess the liquidity of receivables is the receivables turnover ratio, computed by dividing net credit sales (net sales less cash sales) by the average net accounts receivables during the year. This ratio measures the number of times, on average, a company collects receivables during the period. Unless seasonal factors are significant, average accounts receivable outstanding can be computed from the beginning and ending balances of the net receivables.1 A popular variant of the receivables turnover ratio is the 19 average collection period, which measures the average amount of time that a receivable is outstanding. 74. Ako vyčíslime obrátkovosť zásob (konkrétne tovaru) ? Vysvetlite čo to znamená? Ktorá účtovná transakcia je dôležitá pre daný ukazovateľ? How do we calculate Inventory turnover? What does it mean and what accounting transactions are important for this indicator? The inventory turnover ratio is calculated as cost of goods sold divided by average inventory. It indicates how quickly a company sells its goods—the number of times the average inventory “turns over” (is sold) during the year. Inventory turnover can be divided into 365 days to compute days in inventory, which indicates the average number of days inventory is held. 75. Načo potrebujeme z pohľadu manažéra poznať hodnoty vráteného tovaru odberateľom, rabaty a zľavy, či skonto poskytnuté odberateľovi ? Why do we need information on sales sales returns, sales allowances and sales discounts from the point of a manager? 76. Načo potrebujeme z pohľadu manažéra poznať hodnoty purchase return, allowances and discounts? Why do we need information on sales sales returns, sales allowances and sales discounts from the point of a manager? 77. Akými dvoma spôsobmi môžeme vyčísliť cenu tovaru dostupného na tovar? What two ways are for Cost of goods for sale - COGAS calculation? First-In, First-Out (FIFO) - The FIFO (first-in, first-out) method assumes that the earliest goods purchased are the first to be sold. Under the FIFO method, therefore, the costs of the earliest goods purchased are the first to be recognized in determining cost of goods sold, regardless which units were actually sold. Under FIFO, companies determine the cost of the 20 ending inventory by taking the unit cost of the most recent purchase and working backward until all units of inventory have been costed. Last-In, First-Out (LIFO) - The LIFO (last-in, first-out) method assumes that the latest goods purchased are the first to be sold. Under the LIFO method, the costs of the latest goods purchased are the first to be recognized in determining cost of goods sold. Under LIFO, companies obtain the cost of the ending inventory by taking the unit cost of the earliest goods available for sale and working forward until all units of inventory have been costed. Average-Cost - The average-cost method allocates the cost of goods available for sale on the basis of the weighted-average unit cost incurred. The average-cost method instead uses the average weighted by the quantities purchased at each unit cost. 78. Čomu sa rovná konečný zostatok NZMO? What is RE ending balance? REkz = REzz + Net income - dividends 79. Ktoré účty sú permanentné a ktoré sú dočasné? Which accounts are permanent(real) and which are temporary (nominal)? revenues, expenses, and dividends relate to only a given accounting period, they are considered temporary accounts. balance sheet accounts ( assets, liabilities, stockholders’ equity accounts) are considered permanent accounts because their balances are carried forward into future accounting periods. 80. Vymenujte účty na otvorenie a uzatváranie účtov v SR a v IFRS/US GAAPe?. Name accounts which are for opening and closing accounts in Slovak§s accounting and in IFRS/US GAAP? . SR: Účet 701 – Začiatočný účet súvahový - Na tomto účte sa otvárajú účtovnými zápismi účty hlavnej knihy súvzťažne s jednotlivými súvahovými účtami aktív a pasív. Účet 702 – Konečný účet súvahový - Účtovanie aktívnych konečných zostatkov súvahových účtov pri uzavieraní účtovných kníh. 21
