LECTURE NOTES CHAP 3:

ACCRUALS vs PREPAYMENTS
Điều chỉnh các khoản dồn tích Điều chỉnh các khoản trả trước

ADJUSTMENTS
truongthihanhdung@uel.edu.vn
Tại thời điểm cuối niên độ với nhu cầu là phải tính đúng dthu, cp từng kì để lập BCTC, thì dn cần phải thực hiện một số các bút toán điều chỉnh cho
những gd mà gd đó trải dài qua nhiều niên độ.
VD: sdung tsdh
trả trc cp bảo hiểm, cp tiền thuê
đối với những dvu đã phát sinh trong kì nhưng dn chưa kịp thời ghi nhận: vay chưa trả lãi; đã thực hiện dthu rồi nhưng chưa ghi nhận dthu;
người lao động đã làm việc cho dn rồi nhưng dn chưa trả lương;...
Điều chỉnh accrual thì nhiệm vụ của ng kế toán là ghi các khoản bổ sung thêm, còn đối với khoản prepayment thì kế toán sẽ phải phân bổ
 Lecturer notes
Students should know, there are many types of Adjusting
entries AT THE END OF PERIOD: Thực hiện điều chỉnh vào cuối niên độ
 Adjusting for Prepayments (phân bổ)
 Adjusting for Accruals (ghi bổ sung/ghi dồn tích thêm)
 Adjusting for errors & correction Điều chỉnh sai sót
 Book Depreciation, Provision (TH đặc biệt)
 Test impairment loss Ghi lỗ tỏn thất ts
 Estimate Taxation Ước tính thuế
 ….
Journalize Accruals VS Prepayments transactions at the end of period
Events (Deferrals/Accruals or Prepayment) What is the proper Revenues and
Expenses for the period ended
Dec 31?
On December 15 2023, UEL Company received $3,600
cash for consulting services that will be performed => Prepayment

during 3 months from now. Prepare a general journal

entry to record the $3,600 cash receipt.

15/12/2023: Receive 3 months services in cash 31/12/2023: Allocate proper Revenues incurred for the
Dr Cash 3,600 (Asset - SFP) year 2023 (reflecting the Accrual basis principles)
Cr Unearned revenues 3,600 (Liability - SFP) Dr Unearned revenues (Liability - SFP) 3,600 x 1/6
Cr Revenues (Rev – IS) 600 (=3600 x 15/90)

Đây là nv điều chỉnh trả trước doanh thu

PREPAYMENTS OR ACCRUALS?
Journalize Accruals VS Prepayments transactions at the end of period
Events (Deferrals or Prepayment) What is the proper Revenues and
Expenses for the period ended Dec 31?
On October 1 2023 of the current year, UEL Company
paid $9,600 cash for a one-year insurance policy that => Prepayment
took effect on that day. On the date of the payment,
record the entry?

1/10/2023: Paid 1 year insurance in cash 31/12/2023: Allocate proper Insurance expenses incurred
Dr Prepaid Insurance 9,600 (Asset - SFP) for the year 2023 (reflecting the Accrual basis principles)
Cr Cash 9,600 (Asset - SFP) Dr Insurance Ex (Ex - IS) 9,600 x 3/12
Cr Prepaid Insurance (Asset – SFP) 2,400
Đây là nv trả trước chi phí

PREPAYMENTS OR ACCRUALS?
 Journalize some odd transactions
Journalize Accruals VS Prepayments transactions at the end of period
Events (Deferrals or Prepayment) What is the proper Revenues and Expenses
for the period ended Dec 31?

UEL Co had $1,500 of store supplies at the beginning of the current

year. During this year, UEL purchased $8,250 worth of store supplies. => Prepayment (Tình huống đặc biệt trả trc cp tk supplies.
On December 31, 2023 $1,125 worth of store supplies remained. Mua rồi sau đó mới sử dụng trong kì)
Record the purchases entry?

During 2023, purchase Supplies: 31/12/2023: Allocate proper Supplies expenses incurred for the
Dr Supplies 8,250 (Asset - SFP) year 2023 (reflecting the Accrual basis principles)
Cr Cash/AP 8,250 Dr Supplies Ex (Ex - IS) X
Cr Supplies (Asset - SFP) X

Supplies Supplies Ex
1.500
X = 8.625 (Đã sử dụng 8.625 tiền supplies trong kì)
8.250 X X

PREPAYMENTS OR ACCRUALS? 1.125

 Journalize some odd transactions
Journalize Accruals VS Prepayments transactions at the end of period
Events (Deferrals or Prepayment) What is the proper Revenues and Expenses
for the period ended Dec 31?
UEL company purchased a new truck at a cost of $42,000 on July 1,
2023. The truck is estimated to have a useful life of 6 years and a
salvage/scrap/residual value of $3,000. The company uses the => Prepayment.
straight-line method of depreciation. Record the purchase and the
depreciation for the year ended December 31, 2023?

1/7/2023, purchase Truck: 31/12/2023: Allocate proper Depreciation Expense (on using truck)
Dr Truck 42,000 (Asset - SFP) incurred for the year 2023 (reflecting the Accrual basis principles)
Cr Cash/AP 42,000 Dr Depreciation ex (Ex - IS) [(42,000 – 3,000)/6]x6/12
(Trả trước cho mục này) Cr Accumulated Depreciation (Contra Asset – SFP) 3,250
(Phân bổ ts Truck vào trong cp Acc.Depreciation)
Straight-line method of depreciation computation:
Depreciation expenses = [(Cost – Residual value)/Useful life] x Real
time used asset Ng giá GT thanh lý Tgian sd hữu ích

PREPAYMENTS OR ACCRUALS?
 Journalize some odd transactions
Journalize Accruals VS Prepayments transactions at the end of period
Events (accrued ex and rev) What is the proper Revenues and
Expenses for the period ended
Dec31?
On Dec 31 2023 UEL Co performed two thirds (2/3) of 3 months consulting
services costing $9,000 that will be paid in January 31. Did UEL receive any cash => Accrual
at Dec 31? And Did u perform the services?
How can we (accountants) help? Tới Dec 31, dn đã thực hiện 2/3 dvu => phát sinh dthu

During 12/2023, Perform services 31/12/2023: Adjust/Accrue proper Services revenues incurred for the
without receiving Cash, no entries year 2023 (reflecting the Accrual basis principles)
have been booked Dr AR 2/3 x 9,000
Cr Services revenues (Rev – IS) 6000

PREPAYMENTS OR ACCRUALS?
 Journalize some odd transactions
Journalize Accruals VS Prepayments transactions at the end of period
Events (accrued ex and rev) What is the proper Revenues and
Expenses for the period ended Dec31?
UEL company has 20 employees who each earn $500 per week for a 5-day week
that begins on Monday and pay salaries on Friday every week. December 31 of
this year is a Monday, and all 20 employees worked that day. Did UEL pay => Accrual
salaries on December 31 2023 or record something? How can we (accountants)
help? Dec 31 (thứ 2) không trả lương cho nv do trả vào thứ 6 tuy nhiên vẫn nhận dịch vụ từ
nhân viên nên ghi nhận chi phí phải trả nhân viên

Use services from employees without 31/12/2023: Adjust/Accrue proper Salaries expenses incurred for the
paying Cash for them, no entries year 2023 (reflecting the Accrual basis principles)
have been booked Dr Salaries expenses (Ex – IS) 500/5 x 20
Cr Salaries payable (Rev – IS) 2,000

04/01/2024: Dr Salaries expenses 500/5x3x 20 (01/01 off for new year, 31/12 already incurred)
Dr Salaries payable 2000 (31/12 Salaries)
Cr Cash 8000

PREPAYMENTS OR ACCRUALS?
Accrued interest (ghi chi phí lãi dồn tích)
• Dr Interest expenses (Finance cost) Đi vay
• Cr Interest payable (Cr Accruals – nợ dồn tích)
• Accruals: TK phải trả khác, ghi nhận các khoản phải trả
nhỏ (other payables)
• Interest ex = Face value x Interest rate x time accrued
Mệnh giá Lãi suất Tgian thực của món nợ
Accrued interest revenues (ghi DT lãi dồn tích)
• Dr Accrued Interest (=Interest receivables)
Cho vay
• Cr Interest revenues
 IN SUMMARY
Thực hiện bút toán điều chỉnh để tuân thủ:
- Cơ sở kế toán dồn tích (accrual)
- Giả định kì kế toán
- Nguyên tắc ghi nhận dthu (Rev recognition principle)
- Nguyên tắc ghi nhận chi phí (Matching principle)

TIME PERIOD
ASSUMPTIONS
 Accrual basis vs Cash basis
Accrual basis Cơ sở kt dồn tích Cash basis
Revenues = Revenues incurred in the period Revenues = Cash receipts (tiền thu vào trong kỳ)
Expenses = Expenses incurred in the period Expenses = Cash payments (tiền chi ra trong kỳ)
Amounts based on vouchers

Large corporations Small businesses

According IAS 01, Conceptual Framework: According IAS 01, IAS 07, Conceptual Framework:
Basis for preparing: Basis for preparing:
- Income statement, BCKQHĐKD - Cash flows statement
- Statement of changes in Equity, BC thay đổi VCSH LCTT
- Balance sheet (Statement of financial position)
Bảng CĐKT

Cơ sở ktdt: trong đó dthu sẽ được ghi nhận là dthu thực tế psinh trong kì,
cp là cp thực tế psinh trong kì. Dthu và Cp ghi nhận dựa trên chứng từ (invoice).
Áp dụng cho các DN lớn. Lúc này Dthu = tiền thu về, Cp = tiền chi ra.
=> Income = Rev - Ex
IN SUMMARY
IN SUMMARY