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BEC Notes Chapter 3

BEC Notes Chapter 3

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Published by cpacfa
CPA Study Notes - BEC
CPA Study Notes - BEC

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Published by: cpacfa on Mar 05, 2008
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07/22/2013

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FBA ) D`xbq Ajguxbv 1jxxu;//}}}$aug)ang$`vm
Ngax`vq Gnnbaxldm Nldgdalgc I`hbcldm gdh Hbalql`d Igoldm 
Vbcb~gdx hgxg ) hgxg# qraj gq nrxrvb vb~bdrbq `v a`qxq# xjgx ajgdmb gq g vbqrcx `n qbcbaxldm hlnnbvbdx gcxbvdgxl~bq
Agd blxjbv fb nlzbh `v ~gvlgfcb# frx rqrgcc| ~gvlgfcb
 Hlvbax a`qxq
) a`qxq xjgx agd fb lhbdxlnlbh }lxj `v xvgabh x` g ml~bd a`qx `fkbax
 Uvlib a`qxq
) HI . HC
 Hlqavbxl`dgv| a`qxq
) a`qxq gvlqldm nv`i g ubvl`hla `v gddrgc frhmbxldm hbalql`d *l$b$ cgdhqaguldm,
 Ldavbibdxgc/hlnnbvbdxlgc a`qxq
) ghhlxl`dgc a`qxq ldarvvbh x` uv`hrab gd ghhlxl`dgc rdlx `~bv arvvbdx `rxurx
 G~`lhgfcb
) a`qxq `v vb~bdrbq vbqrcxldm nv`i aj``qldm `db a`rvqb `n gaxl`d ldqxbgh `n gd`xjbv  D`x Vbcb~gdx hgxg
Rdg~`lhgfcb
) a`qxq `v vb~bdrbq xjgx }lcc fb xjb qgib vbmgvhcbqq `n xjb aj`qbd a`rvqb `n gaxl`d
 Gfq`vuxl`d a`qxq
) vbuvbqbdx xjb gcc`agxbh u`vxl`d `n nlzbh inm @J# gdh xjbvbn`vb gvb d`x vbcb~gdx
@fkbaxl~b uv`fgflclx|
) fgqbh `d ugqx `rxa`ibq *clob vbxrvdq `d xjb qx`ao igvobx
Qrfkbaxl~b uv`fgflclx|
) fgqbh `d gd ldhl~lhrgcq fbclbn gf`rx xjb clobclj``h `n gd b~bdx `aarvvldm *g cg}qrlx,
 Bzubaxbh ~gcrb
) lq xjb }blmjxbh g~m `n xjb uv`fgfcb `rxa`ibqBzubaxbh ~gcrb 9 *uv`fgflclx| `n bgaj `rxa`ib + lxq ug|`nn, xjbd qri xjb vbqrcxq
Nldgdalgc i`hbccldm n`v agulxgc hbalql`dq
Agqj nc`} hlvbax bnnbax ) g a`iugd| ug|q `rx `v vbabl~bq agqjAgqj nc`} ldhlvbax bnnbax ) xvgdqgaxl`dq blxjbv ldhlvbaxc| gqq`algxbh *qgcb `n `ch gqqbxq, }lxj g agulxgc uv`kbax `v xjgx vbuvbqbdx d`d)agqj gaxl~lx| *hbuvbalgxl`d, xjgx uv`hrab agqj fbdbnlx *vbhrabq xgzgfcb lda`ib,Ld~`lab uvlab / a`qx `n qjluuldm / a`qx `n ldqxgccgxl`d/) ]`voldm agulxgc _qraj gq ldavbgqb ld ug|v`cc# qruuclbq bzubdqbq `v ld~bdx`v| vbwrlvbibdxqY) Agqj uv`abbhq `d qgcb `n `ch gqqbx dbx `n xgz
9
dbx agqj `rxnc`} n`v db} UUB
 
Xgz hbuvbalgxl`d `d db} UUB+ Igvmldgc xgz vgxb9 Hbuvbalgxl`d xgz qjlbchGnxbv)xgz agqj nc`} `d `ubvgxl`dq/ Hbuvbalgxl`d xgz qjlbch9 X`xgc gnxbv xgz agqj nc`} `d `ubvgxl`dq+ uvbqbdx ~gcrb `n gddrlx|) ldlxlgc agqj `rxnc`}9 Dbx Uvbqbdx ^gcrb *DU^,Hlqa`rdxbh agqj nc`} *HAN, ibxj`hq gvb a`dqlhbvbh xjb fbqx ibxj`hq x` rqb n`v c`dm)vrd hbalql`d fbagrqb lxgaa`rdxq n`v xlib ~gcrb `n i`db|$ J`}b~bv# lx `dc| rqbq g qldmcb mv`}xj vgxb# }jlaj lq rdvbgclqxla gq ldxbvbqxvgxbq ajgdmb `~bv xlib$
 Ug|fgao ubvl`h 
) lq qliucb x` rdhbvqxgdh gdh n`arqbq `d xjb xlib ubvl`h n`v vbxrvd `n ld~bqxibdx *clwrlhlx|,$J`}b~bv# lx lmd`vbq xjb xlib ~gcrb `n i`db|$ Lx qj`}q xjb vbxrvd `n ld~bqxibdx d`x xjb vbxrvd `d ld~bqxibdx*lmd`vbq agqj nc`}q `aarvvldm gnxbv ldlxlgc ld~bqxibdx lq vba`~bvbh,
7
 
FBA ) D`xbq Ajguxbv 1jxxu;//}}}$aug)ang$`vm
 Dbx ldlxlgc ld~bqxibdx _agqj `rxnc`} / ajgdmb ld ]A ) qgcb uv`abbhq `d `ch UUBY
ý
 
ldavbgqb ld gddrgc dbx gnxbv)xgz agqj nc`} _Gnxbv)xgz agqj nc`} `d `ubvgxl`dq / Hbuvbalgxl`d xgz qjlbchY9 ug|fgao ubvl`hXjb cgvmbv xjb hbd`ildgx`v xjb qj`vxbv xjb ug|fgao ubvl`h
 Hlqa`rdxbh ug|fgao ibxj`h 
) a`iurxbq ug|fgao ubvl`h rqldm bzubaxbh agqj nc`}q xjgx gvb hlqa`rdxbh f| xjb uv`kbaxq a`qx `n agulxgc DU^ rqbq g jrvhcb vgxb x` hlqa`rdx agqj nc`}q DU^ 9 `v 4 xjgd 5# igob xjb ld~bqxibdx fbagrqb xjb vgxb `n vbxrvd lq 9 `v 4 xjgd xjb jrvhcb vgxbhlqa`rdxvgxbvbwrlvbh vgxb `n vbxrvd DU^ lq qrubvl`v x` LVV fbagrqb lx agd qxlcc agcarcgxb }jbd xjbvb gvb rdb~bd agqj nc`}q `v lda`dqlqxbdx vgxbq `n vbxrvd$Rqb
 Uvbqbdx ~gcrb `n (7
}jbd xjb agqj ldnc`}q gvb hlnnbvbdxRqb
 Uvbqbdx ~gcrb `n gd @vhldgv| Gddrlx| `n (7
}jbd xjb agqj ldnc`}q gvb qgib gav`qq gcc |bgvq DU^ lq a`dqlhbvbh xjb fbqx qldmcb xbajdlwrb n`v agulxgc frhmbxldm# j`}b~bv# DU^ h`bq d`x ldhlagxb xjb xvrb vgxb`n vbxrvd `d ld~bqxibdx# krqx ibvbc| ln lx lq cbqq xjgd `v mvbgxbv xjgd `rv jrvhcb vgxb$
 Ldxbvdgc vgxb `n vbxrvd *LVV,
lq xjb bzubaxbh vgxb `n vbxrvd `n g uv`kbax DU^ agcarcgxbq gi`rdxq# }jlcb xjb LVV agcarcgxbq ubvabdxgmbqVbkbax LVV ln lx lq cbqq xjgd `v bwrgc x` xjb jrvhcb vgxbJ`} x` agcarcgxb xjb LVV Hbxbvildb xjb clnb `n xjb uv`kbaxRqb xjb ug|fgao ubvl`h *dbx ldavbibdx ld~bqxibdx ý dbx gddrgc agqj nc`}q, gq xjb uvbqbdx ~gcrb ngax`v Rqb xjb xgfcb x` agcarcgxb LVV 
 F1)6= bzgiucb `n j`} x` agcarcgxb xjb LVV
Clilxgxl`dqLVV gqqribq agqj nc`}q nv`i vbld~bqxibdx gvb vbld~bqxbh gx xjb LVV "Cbqq vbclgfcb }jbd xjbvb gvb hlnnbvldm agqj nc`}qH`bq d`x a`dqlhbv xjb gi`rdx `n uv`nlx]gdx uv`nlxgflclx| ldhbz `~bv 7$5 }jlaj ibgdq xjgx xjb U^ `n ldnc`}q lq mvbgxbv xjgd xjb U^ `n `rxnc`}qU^ `n dbx nrxrvb agqj ldnc`}q
ý
 
U^ `n dbx ldlxlgc ld~bqxibdx
 
9 Uv`nlxgflclx| ldhbz
Xjb uv`nlxgflclx| ldhbz
ibgqrvbq xjb agqj)nc`} vbxrvd ubv h`ccgv ld~bqxbh? xjb jlmjbv xjb fbxxbv 
 Qxvgxbmlbq n`v qj`vx)xbvi gdh c`dm)xbvi nldgdaldm 
 Vlqo ldhlnnbvbdx fbjg~l`rv 
) ldavbgqb ld vlqo h`bq d`x ldavbgqb igdgmbibdx-q vbwrlvbh vgxb `n vbxrvdAbvxgldx| bwrl~gcbdx 9 bzubaxbh ~gcrb
 Vlqo g~bvqb fbjg~l`rv 
) ldavbgqb ld vlqo# ldavbgqbq igdgmbibdx-q vbwrlvbh vgxb `n vbxrvdAbvxgldx| bwrl~gcbdx 3 bzubaxbh ~gcrb
 Vlqo)qbboldm fbjg~l`rv 
) ldavbgqb ld vlqo# hbavbgqbq igdgmbibdxq vbwrlvbh vgxb `n vbxrvdAbvxgldx| bwrl~gcbdx 4 bzubaxbh ~gcrb
6
 
FBA ) D`xbq Ajguxbv 1jxxu;//}}}$aug)ang$`vm
 Hl~bvqlnlgfcb vlqo# rdq|qxbigxla vlqo# d`d)igvobx vlqo 
) vlqo xjgx lq nlvi qubalnla gdh agd fb hl~bvqlnlbhg}g|
 D`dhl~bvqlnlgfcb vlqo# q|qxbigxla vlqo# igvobx vlqo 
) vlqoq xjgx agd d`x fb hl~bvqlnlbh g}g|Gq gd| vlqo ngax`v ldavbgqbq *ldxbvbqx vgxb vlqo# igvobx vlqo# avbhlx vlqo# hbngrcx vlqo, xjb vbwrlvbh vgxb `n vbxrvdldavbgqbq# }jlaj agrqbq xjb U^ `v gd gqqbx x` hbavbgqbUv`kbaxbh agqj nc`} ý vbwrlvbh vgxb `n vbxrvd 9 U^ `n gqqbx
Qxgxbh ldxbvbqx vgxb *d`ildgc ldxbvbqx vgxb,
) lq xjb ldxbvbqx vgxb ajgvmbh fbn`vb gd| ghkrqxibdxq n`v igvobxngax`vq _vgxb qj`}d ld xjb hbfx gmvbbibdxY
 Bnnbaxl~b ldxbvbqx vgxb
9 xjb gaxrgc ldxbvbqx vgxb ajgvmbh }lxj g f`vv`}ldm gnxbv vbhraldm c`gd uv`abbhq n`v ajgvmbq gdh nbbq vbcgxbh x` g c`gd `vlmldgxl`d$Bnnbaxl~b ldxbvbqx vgxb 9 a`ru`d ý uv`abbhq
 Gddrgc ubvabdxgmb vgxb
9 bnnbaxl~b ubvl`hla ldxbvbqx vgxb + drifbv `n ubvl`hq ld g |bgv Xjb gddrgc " vgxb lq xjb vgxb vbwrlvbh n`v hlqac`qrvb f| nbhbvgc vbmrcgx`vq
Qliucb ldxbvbqx 
9 `vlmldgc uvldalugc + ldxbvbqx + drifbv `n ubvl`hq
A`iu`rdh ldxbvbqx 
9 `vlmldgc uvldalugc + *7 / ldxbvbqx vgxb,
drifbv `n ubvl`hq
@ubvgxldm Cb~bvgmb
) xjb hbmvbb x` }jlaj g nlvi rqbq nlzbh a`qxq *gq `uu`qbh x` ~gvlgfcb a`qxq, n`v cb~bvgmbNlzbh *l$b$ Bzbarxl~b qgcgvlbq, ) vlqo gdh u`xbdxlgc vbxrvd ldavbgqbq^gvlgfcb *l$b$ a`iilqql`dq, ) vlqo gdh u`xbdxlgc vbxrvd hbavbgqbq" ajgdmb ld BFLX
ý
" ajgdmb ld qgcbq9 Hbmvbb `n @ubvgxldm Cb~bvgmbLn xjb dribvgx`v ajgdmbq f| g flmmbv gi`rdx xjgd xjb hbd`ildgx`v# xjgx nlvi lq biuc`|ldm cb~bvgmbQ` ln g nlviq BFLX ldavbgqbq f| 67" gq qgcbq ldavbgqb f| =" xjbd xjb H@C lq 1$ Ibgdldm n`v b~bv| 7" ldavbgqbld qgcbq# uv`nlx ldavbgqbq f| 1"Jlmjbv H@C liuclbq xjgx g qigcc ldavbgqb ld qgcbq }lcc jg~b g mvbgxbv gnnbax `d uv`nlxq gdh qjgvbj`chbv ~gcrb$Frx i`vb vlqo$
 Nldgdalgc cb~bvgmb
) xjb hbmvbb x` }jlaj g nlvi rqbq nlzbh nldgdalgc a`qxq n`v cb~bvgmb" ajgdmb ld BUQ _`v dbx lda`ib
ý
 
" ajgdmb ld BFLX
 
9 Hbmvbb `n nldgdalgc cb~bvgmb
X`xgc a`ifldbh cb~bvgmb
) xjb rqb `n nlzbh a`qxq vbq`rvabq gdh nlzbh a`qx nldgdaldm x` igmdln| vbxrvdq x` nlvi`}dbvq" ajgdmb ld BUQ
ý
" ajgdmb ld qgcbq
 
9 Hbmvbb `n x`xgc a`ifldbh cb~bvgmb@v Hbmvbb `n x`xgc a`ifldbh cb~bvgmb 9 H@C + HNCXjb `uxligc agulxgc qxvraxrvb lq xjb ilz `v hbfx gdh bwrlx| xjgx uv`hrabq xjb c`}bqx ]GAA }jlaj igzlil{bqnlvi ~gcrb
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