‫‪٢٠٠٦ - ٢٠٠٥‬‬ ‫اﻟﻔﺼﻞ اﻻول‬ ‫اﻟﻤﺤﺎﺳﺒﮫ اﻟﻤﺎﻟﯿﮫ اﻟﻤﺘﻘﺪﻣﮫ‬

‫‪٠٧٧٧٨٣٥٦٠١‬‬ ‫‪talalh@yahoo.com‬‬ ‫اﻟﺪﻛﺘﻮر طﻼل ﺣﻤﺪون – ﻋﻤﯿﺪ ﻛﻠﯿﺔ اﻟﺘﺠﺎره‬

‫اﻟﻤﻮاﺿﯿﻊ اﻟﺘﻲ ﺳﺘﻐﻄﯿﮭﺎ اﻟﻤﺎده‬

‫ﻣﺤﺎﺳﺒﺔ اﻻﺳﺘﺜﻤﺎر ﻓﻲ اﻟﺸﺮﻛﺎت اﻟﻤﺴﺎھﻤﮫ ‪ -‬طﻮﯾﻞ اﻻﺟﻞ ) اﻻﻧﺪﻣﺎج واﻻﺗﺤﺎد واﻟﺸﺮاء (‬ ‫‪o‬‬
‫‪Merger, Consolidation and Acquisitions‬‬
‫‪Consolidated Financial‬‬ ‫ﻣﺤﺎﺳﺒﺔ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه )ﺗﺸﻜﻞ اﻟﺠﺰء اﻻﻛﺒﺮ ﻣﻦ اﻟﻤﺎده(‬ ‫‪o‬‬
‫‪Statements‬‬
‫‪Foreign‬‬ ‫ﻣﺤﺎﺳﺒﺔ اﻟﻌﻤﻼت اﻻﺟﻨﺒﯿﮫ‬ ‫‪o‬‬
‫‪Currencies‬‬
‫‪Translation of Financial‬‬ ‫ﺗﺮﺟﻤﺔ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ‬ ‫‪o‬‬
‫‪Statements‬‬

‫‪ ‬أﺳﺒﺎب اﻻﺳﺘﺜﻤﺎر ﻓﻲ اﻟﺸﺮﻛﺎت اﻟﻤﺴﺎھﻤﮫ ‪:‬‬

‫‪Economics of Scale‬‬ ‫وﻓﻮرات اﻟﺤﺠﻢ‬ ‫‪o‬‬
‫‪Competition‬‬ ‫اﻟﻤﻨﺎﻓﺴﮫ ) ﻟﻠﺤﺪ ﻣﻨﮭﺎ (‬ ‫‪o‬‬
‫‪Hostile takeover‬‬ ‫اﻟﺴﯿﻄﺮه اﻟﻌﺪاﺋﯿﮫ‬ ‫‪o‬‬
‫‪Horizontal Integration‬‬ ‫ﺗﺤﻘﯿﻖ اﻟﺘﻜﺎﻣﻞ اﻻﻓﻘﻲ‬ ‫‪o‬‬
‫‪Vertical Integration‬‬ ‫ﺗﺤﻘﯿﻖ اﻟﺘﻜﺎﻣﻞ اﻟﻌﺎﻣﻮدي‬ ‫‪o‬‬
‫‪Conglomeration‬‬ ‫اﻟﺘﻨﻮﯾﻊ ﻓﻲ اﻧﺸﻄﺔ اﻟﺸﺮﻛﮫ‬ ‫‪o‬‬

‫‪ ‬اﻻﺳﺘﺜﻤﺎر ﻓﻲ اﻟﺸﺮﻛﺎت اﻟﻤﺴﺎھﻤﮫ ﻣﻦ ﺣﯿﺚ اﻟﻤﺪه ﻧﻮﻋﯿﻦ‪-:‬‬

‫اﻟﻜﻠﻔﮫ أو اﻟﺴﻮق أﯾﮭﻤﺎ أﻗﻞ‬ ‫‪ ) Short Term‬ﺿﻤﻦ اﻻﺻﻮل ﻗﺼﯿﺮة اﻻﺟﻞ (‬ ‫ﻗﺼﯿﺮة اﻻﺟﻞ‬
‫اﻟﻜﻠﻔﮫ ﻓﻘﻂ‬ ‫‪ ) Long Term‬ﺿﻤﻦ اﻻﺻﻮل طﻮﯾﻠﺔ اﻻﺟﻞ (‬ ‫طﻮﯾﻠﺔ اﻻﺟﻞ‬

‫‪ ‬أﻧﻮاع اﻻﺳﺘﺜﻤﺎر ﻓﻲ اﻟﺸﺮﻛﺎت اﻟﻤﺴﺎھﻤﮫ ) ﻣﻦ ﺣﯿﺚ ﺣﺠﻢ اﻻﺳﺘﺜﻤﺎر (‬

‫اﻟﻤﻌﺎﻟﺠﮫ اﻟﻤﺤﺎﺳﺒﯿﮫ‬ ‫ﻧﻮع اﻻﺳﺘﺜﻤﺎر‬ ‫ﻧﺴﺒﺔ اﻻﺳﺘﺜﻤﺎر‬
‫أﺛﺮ طﺒﯿﻌﻲ ‪Nominal‬‬
‫اﻟﺤﺴﺎب ﻋﻠﻰ أﺳﺎس اﻟﻜﻠﻔﮫ‬ ‫‪% ٢٠ – ٠٠‬‬
‫ﻣﺤﻔﻈﮫ ﻣﺎﻟﯿﮫ ‪Portfolio‬‬
‫اﻟﺤﺴﺎب ﻋﻠﻰ أﺳﺎس ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬ ‫أﺳﺘﺜﻤﺎر ﻛﺒﯿﺮ ﻣﺆﺛﺮ‬
‫‪% ٥٠ – ٢٠‬‬
‫ﻻﯾﻄﻠﺐ ﻗﻮاﺋﻢ ﻣﺎﻟﯿﮫ ﻣﻮﺣﺪه‬ ‫‪Significant Influence Investment‬‬
‫ﻧﻘﻞ أﺻﻮل واﻟﺘﺰاﻣﺎت أو أﺳﺘﺨﺪام‬ ‫ﺳﯿﻄﺮه ‪Control‬‬
‫) اﻟﻜﻠﻔﮫ أو ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ (‬ ‫ﺗﻮﺣﯿﺪ أﻋﻤﺎل ‪Business Combinations‬‬ ‫‪% ١٠٠ – ٥٠‬‬
‫ﯾﻄﻠﺐ ﻗﻮاﺋﻢ ﻣﺎﻟﯿﮫ ﻣﻮﺣﺪه‬ ‫ﻟﻢ ﯾﻌﺪ ﻣﺠﺮد أﺳﺘﺜﻤﺎر‬

‫‪ ‬أﺷﻜﺎل ﺗﻮﺣﯿﺪ اﻻﻋﻤﺎل ) أﻛﺜﺮ ﻣﻦ ‪Business Forms ( % ١٠٠ – ٥٠‬‬

‫‪Combinations‬‬
‫اﻟﻤﻌﺎﻟﺠﮫ اﻟﻤﺤﺎﺳﺒﯿﮫ‬ ‫اﻟﺸﻜﻞ‬ ‫اﻟﻨﻮع‬
‫اﻟﺤﺎﻟﮫ اﻟﺸﺎﺋﻌﮫ ﻧﻘﻞ ﻛﺎﻣﻞ اﻻﺻﻮل واﻟﺨﺼﻮم‬ ‫‪100%‬‬ ‫اﻻﻧﺪﻣﺎج‬
‫‪A+B=A‬‬
‫ﺑﺎﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﻌﺎدﻟﮫ ﻣﻦ ‪ B‬اﻟﻰ =< ‪A‬‬ ‫‪Merger‬‬
‫ﻧﻘﻞ ﻛﺎﻣﻞ اﻻﺻﻮل واﻟﺨﺼﻮم ﺑﺎﻟﻘﺒﻤﮫ اﻟﺴﻮﻗﯿﮫ‬ ‫‪100%‬‬ ‫اﻻﺗﺤﺎد‬
‫‪A+B=C‬‬
‫اﻟﻌﺎدﻟﮫ ﻣﻦ ‪ A‬وﻣﻦ ‪ B‬اﻟﻰ =< ‪C‬‬ ‫‪Consolidation‬‬
‫طﺮﯾﻘﺔ اﻟﻜﻠﻔﮫ أو ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬ ‫اﻟﺴﯿﻄﺮه ‪-100%‬‬
‫‪A + B = AB‬‬
‫ﯾﺠﺐ أﻋﺪاد اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه‬ ‫‪٥٠‬‬
‫‪Parent & Subsidiary Companies‬‬ ‫ﻗﺎﺑﻀﮫ و ﺗﺎﺑﻌﮫ‬ ‫‪Acquisitions‬‬
‫‪Master Program‬‬ ‫‪Advanced Financial Accounting‬‬ ‫‪last update 4/22/2013‬‬

‫‪ o‬ﻓﻲ ﺣﺎﻟﺔ اﻟﺴﯿﻄﺮه ) ‪ ( Acquisition‬ﯾﺒﻘﻰ ﺷﺮﻛﺘﺎن ﻣﻨﻔﺼﻠﺘﺎن ھﻤﺎ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ‪Parent‬‬
‫‪ ) Company‬اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮه اﻟﻤﺴﯿﻄﺮه ( و اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪ ) Subsidiary‬اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ‬
‫(‬
‫‪ o‬ﺑﺎﻟﻨﺴﺒﮫ ﻟﺘﻔﻀﯿﻞ ﺣﺎﻟﺔ اﻻﻧﺪﻣﺎج ﻋﻦ اﻻﺗﺤﺎد أو اﻟﻌﻜﺲ ﯾﻌﺘﻤﺪ ﻋﻠﻰ ﻗﻮة ﻛﻞ ﻣﻦ اﻟﺸﺮﻛﺘﯿﻦ ﻓﺎذا ﻛﺎﻧﺖ ‪A‬‬
‫أﻗﻮى ﻣﻦ ‪ B‬ﻓﯿﻔﻀﻞ اﻻﻧﺪﻣﺎج ﻓﻲ ﺣﯿﻦ أذا ﻛﺎﻧﺖ اﻟﺸﺮﻛﺘﯿﻦ ﺑﻨﻔﺲ اﻟﻘﻮه ﻓﯿﻔﻀﻞ اﻻﺗﺤﺎد‬

‫‪ ‬اﻟﻄﺮق اﻟﻤﺤﺎﺳﺒﯿﮫ ﻟﻤﻌﺎﻟﺠﺔ ﺗﻮﺣﯿﺪ اﻻﻋﻤﺎل ‪Business Combinations (50 – 100‬‬

‫)‪%‬‬
‫اﻟﺘﻘﯿﯿﻢ ﻟﻼﺳﺘﺜﻤﺎر ﯾﻜﻮن ﺑﺎﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﻌﺎدﻟﮫ‬ ‫‪‬‬
‫أرﺑﺎح اﻟﺸﺮﻛﮫ اﻟﻤﺸﺘﺮاه ﺧﻼل اﻟﻌﺎم ﺗﻀﺎف ﻣﻨﺬ ﺗﺎرﯾﺦ اﻟﺸﺮاء‬ ‫‪‬‬
‫ﯾﻤﻜﻦ أن ﯾﻜﻮن اﻟﺸﺮاء ﻧﻘﺪا أو ﺑﺄﺻﺪار أﺳﮭﻢ‬ ‫‪‬‬ ‫طﺮﯾﻘﺔ اﻟﺸﺮاء‬
‫ﻗﺪ ﯾﺘﺮﺗﺐ ﺷﮭﺮة ﻣﺤﻞ ﻣﻮﺟﺒﮫ أو ﺳﺎﻟﺒﮫ‬ ‫‪‬‬ ‫‪Purchase‬‬
‫اﻟﻤﺼﺎرﯾﻒ اﻟﻤﺒﺎﺷﺮه ﺟﺰء ﻣﻦ ﻛﻠﻔﺔ اﻟﺘﻤﻠﻚ‬ ‫‪‬‬ ‫‪Method‬‬
‫ﻛﻠﻔﺔ اﻟﺘﻤﻠﻚ ھﻲ اﻟﻘﯿﻤﮫ اﻟﻌﺎدﻟﮫ ﻟﻠﻤﺒﺎﻟﻎ أو اﻻﺻﻮل اﻟﻤﺪﻓﻮﻋﮫ ﻟﺘﻤﻠﻚ اﻟﺸﺮﻛﮫ‬ ‫‪‬‬
‫اﻟﻤﺸﺘﺮاه‬
‫اﻟﺘﻘﯿﯿﻢ ﻟﻼﺳﺘﺜﻤﺎر ﯾﻜﻮن ﺑﺎﻟﻘﯿﻤﮫ اﻟﺪﻓﺘﺮﯾﮫ ﻟﻠﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ‬ ‫‪‬‬
‫أرﺑﺎح اﻟﺸﺮﻛﮫ اﻟﻤﺸﺘﺮاه ﺧﻼل اﻟﻌﺎم ﺗﻀﺎف ﻣﻦ ﺑﺪاﯾﺔ اﻟﺴﻨﮫ‬ ‫‪‬‬
‫اﻟﺸﺮاء ﯾﺠﺐ أن ﯾﻜﻮن ﺑﺄﺻﺪار أﺳﮭﻢ وﻻ ﯾﺠﻮز أن ﯾﻜﻮن ﻧﻘﺪا ‪ ،‬ﺣﯿﺚ ﯾﺘﻢ‬ ‫‪‬‬
‫أﺳﺘﺒﺪال أﺳﮭﻢ ﻣﺴﺎھﻤﻲ اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ ﺑﺄﺳﮭﻢ اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮه وﯾﺘﻢ‬
‫أﺛﺒﺎت ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر ﺑﺼﺎﻓﻲ اﻻﺻﻮل اﻟﺪﻓﺘﺮﯾﮫ ﻟﻼﺳﺘﺜﻤﺎرواﻟﻤﺴﺎوي ﻟﺤﻘﻮق‬ ‫اﻟﻤﺼﺎﻟﺢ‬
‫ﻣﻠﻜﯿﺔ اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ ﻣﻘﺎﺑﻞ اﻟﻘﯿﻤﮫ اﻻﺳﻤﯿﮫ ﻟﻼﺳﮭﻢ اﻟﻤﺼﺪره ﻣﻦ ﻗﺒﻞ‬ ‫اﻟﻤﺸﺘﺮﻛﮫ‬
‫اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮه واﻻرﺑﺎح اﻟﻤﺤﺘﺠﺰه ﻓﻲ اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ واﻟﻔﺮق‬ ‫‪Pooling of‬‬
‫ﯾﻌﺎﻟﺞ ﻓﻲ }اس اﻟﻤﺎل اﻻﺿﺎﻓﻲ ‪ ) .‬ﻣﻊ أﺧﺬ ﻧﺴﺒﺔ اﻟﺸﺮاء ﺑﺎﻻﻋﺘﺒﺎر (‬ ‫‪Interest‬‬
‫ﻻ ﯾﺘﺮﺗﺐ أﯾﺔ ﺷﮭﺮة ﻻﻧﻨﺎ ﻧﺘﻌﺎﻣﻞ ﻣﻊ ﻗﯿﻢ دﻓﺘﺮﯾﮫ‬ ‫‪‬‬
‫ﺟﻤﯿﻊ اﻟﻤﺼﺎرﯾﻒ ﻣﺒﺎﺷﺮه وﻏﯿﺮ ﻣﺒﺎﺷﺮه أﯾﺮادﯾﮫ‬ ‫‪‬‬
‫ﻛﻠﻔﺔ اﻟﺘﻤﻠﻚ ھﻲ ﺣﻘﻮق اﻟﻤﺴﺎھﻤﯿﻦ ﻟﻠﺸﺮﻛﮫ اﻟﻤﺸﺘﺮاه‬ ‫‪‬‬
‫) اﻟﻐﻲ اﻟﺘﻌﺎﻣﻞ ﺑﮭﺎ ﻓﻲ ﻧﮭﺎﯾﺔ ‪ ٢٠٠١‬ﻣﻦ ﻗﺒﻞ ‪ ، FASB‬اﻻﻟﻐﺎء ﻟﻢ ﯾﺸﻤﻞ اﻟﺸﺮﻛﺎت اﻟﺘﻲ‬
‫ﻛﺎﻧﺖ ﺗﺴﺘﺨﺪم ھﺬه اﻟﻄﺮﯾﻘﮫ ﻗﺒﻞ اﻻﻟﻐﺎء ( وﻟﮭﺬا ﻟﻢ ﯾﺘﻢ اﻟﺘﻄﺮق ﻟﮭﺎ ﻓﻲ دراﺳﺘﻨﺎ‬

‫‪ ‬ﻣﻔﺎھﯿﻢ أﺳﺎﺳﯿﮫ‬
‫وﺗﺴﺎوي ) ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ (‬ ‫ﺻﺎﻓﻲ اﻻﺻﻮل ) ‪ ( Net Assets‬ھﻲ ﻗﯿﻤﺔ اﻻﺻﻮل – اﻻﻟﺘﺰاﻣﺎت‬ ‫‪‬‬
‫اﻟﻘﯿﻤﮫ اﻟﻌﺎدﻟﮫ ) ‪ ( Fair Market Value‬ھﻲ اﻟﻘﯿﻤﮫ اﻟﻌﺎدﻟﮫ اﻟﺴﻮﻗﯿﮫ‬ ‫‪‬‬
‫اﻟﻘﯿﻤﮫ اﻟﺪﻓﺘﺮﯾﮫ ) ‪ ( Book Value‬ھﻲ اﻟﻘﯿﻤﮫ اﻟﺘﺎرﯾﺨﯿﮫ اﻟﻤﺜﺒﺘﮫ ﺑﺎﻟﺪﻓﺎﺗﺮ اﻟﻤﺤﺎﺳﺒﯿﮫ‬ ‫‪‬‬
‫ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر ) ‪ ( Investment Cost‬ھﻲ ﺛﻤﻦ اﻟﺸﺮاء ‪ +‬ﻣﺼﺎرﯾﻒ اﻟﺸﺮاء اﻟﻤﺒﺎﺷﺮه اﻻﺳﺘﺜﻤﺎر‬ ‫‪‬‬
‫ﺛﻤﻦ اﻟﺸﺮاء ) ‪ ( Purchase Cost‬ھﻮ اﻟﺜﻤﻦ اﻟﻤﺪﻓﻮع ﻧﻘﺪا أو اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ ﻟﻼﺳﮭﻢ اﻟﻤﺼﺪره ﻋﻦ‬ ‫‪‬‬
‫اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮه ﻟﺸﺮاء اﻻﺳﺘﺜﻤﺎر‬
‫ﻣﺼﺎرﯾﻒ اﻟﺸﺮاء اﻟﻤﺒﺎﺷﺮه ﻟﻼﺳﺘﺜﻤﺎر ) ‪ ( Direct Cost‬ھﻲ ﻣﺼﺎرﯾﻒ ﻻ ﺑﺪ ﻣﻨﮭﺎ ﻟﺸﺮاء ﻣﺜﻞ‬ ‫‪‬‬
‫ﻋﻤﻮﻻت اﻟﺴﻤﺴﺮه وأﺗﻌﺎب اﻟﻤﺤﺎﺳﺒﮫ‬
‫اﻟﻤﺼﺎرﯾﻒ ﻏﯿﺮ اﻟﻤﺒﺎﺷﺮه ﻟﻼﺳﺘﺜﻤﺎر ) ‪ ( Indirect Cost‬ھﻲ ﻣﺼﺎرﯾﻒ ﻏﯿﺮ ﻣﺒﺎﺷﺮه ﻟﻌﻤﻠﯿﺔ ﺷﺮاء‬ ‫‪‬‬
‫اﻻﺳﺘﺜﻤﺎر وﯾﻤﻜﻦ اﻟﺸﺮاء ﺑﺪوﻧﮭﺎ وﻋﻠﯿﮫ ﻓﺄن ﻣﺼﺎرﯾﻒ أﺻﺪار اﻻﺳﮭﻢ ھﻲ ﻣﺼﺎرﯾﻒ ﻏﯿﺮ ﻣﺒﺎﺷﺮه ﺣﯿﺚ ﯾﻤﻜﻦ‬
‫أن ﯾﺘﻢ اﻟﺸﺮاء ﻧﻘﺪا‪ ،‬وﺑﺎﻟﻨﺴﺒﮫ ﻟﻤﺼﺎرﯾﻒ اﻻﺻﺪار ﺗﺨﺼﻢ ﻣﻦ رأس اﻟﻤﺎل اﻻﺿﺎﻓﻲ ﻓﻲ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ وﻻ ﺗﺪرج‬
‫ﺿﻤﻦ اﻟﻤﺼﺎرﯾﻒ أﻣﺎ اﻟﻤﺼﺎرﯾﻒ اﻟﻐﺒﺮ ﻣﺒﺎﺷﺮه اﻻﺧﺮى ﻓﺘﻌﺘﺒﺮ ﻣﺼﺮوﻓﺎت‪ .‬وﻻ ﺗﻀﺎف ﻋﻠﻰ ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر‬

‫‪Page 2 of 14‬‬
Master Program Advanced Financial Accounting last update 4/22/2013

‫ اﻻﺳﺘﺜﻤﺎر × اﻟﻘﯿﻤﮫ اﻟﻌﺎدﻟﮫ ﻟﺼﺎﻓﻲ أﺻﻮل‬% ) ‫( = ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر ـــ‬Good will) ‫ ﺷﮭﺮة اﻟﻤﺤﻞ‬
( ‫اﻟﻤﺸﺘﺮاه‬
‫ ﯾﺘﻢ أطﻔﺎﺋﮭﺎ ﻓﻲ ﺣﺎﻟﺔ أﻧﺨﻔﺎض ﻗﯿﻤﺘﮭﺎ ﺣﯿﺚ ﯾﻌﺎد ﺗﻘﯿﯿﻤﮭﺎ ﺳﻨﻮﯾﺎ وﻣﻌﺎﻟﺠﺘﮭﺎ ﻓﻲ ﺣﺎﻟﺔ‬: ‫ ﺷﮭﺮة اﻟﻤﺤﻞ اﻟﻤﻮﺟﺒﮫ‬
‫اﻻﻧﺨﻔﺎض ﻓﻘﻂ‬
‫ طﻮﯾﻠﺔ‬B ‫ ( ﯾﺘﻢ ﺗﺨﻔﯿﺾ اﻟﻘﯿﻢ اﻟﺴﻮﻗﯿﮫ ﻻﺻﻮل اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ‬Bad will ) ‫ ﺷﮭﺮة اﻟﻤﺤﻞ اﻟﺴﺎﻟﺒﮫ‬
‫ﺑﻘﯿﻤﺔ اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ ) ﺣﯿﺚ ﯾﺘﻢ اﻟﺘﻮزﯾﻊ ﻋﻠﻰ ﺗﻠﻚ اﻻﺻﻮل ﺣﺴﺐ ﻧﺴﺒﺔ ﻛﻞ ﻣﻨﮭﺎ ( وﻓﻲ ﺣﺎﻟﺔ زﯾﺎدة اﻟﺸﮭﺮه‬
‫ ﻓﺄن اﻟﺰﯾﺎده ﺗﺴﺠﻞ ﻛﺄﯾﺮادات‬B ‫اﻟﺴﺎﻟﺒﮫ ﻋﻦ اﻟﻘﯿﻢ اﻟﺴﻮﻗﯿﮫ ﻟﻼﺻﻮل طﻮﯾﻠﺔ اﻻﺟﻞ ﻟﻠﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ‬
.‫ﻣﺆﺟﻠﮫ ﯾﺘﻢ أطﻔﺎﺋﮭﺎ ﺳﻨﻮﯾﺎ ﺿﻤﻦ اﻻﯾﺮادات اﻻﺧﺮى اﻟﺴﻨﻮﯾﮫ‬

( Minority Interest or Non Controlling Interest ) ‫ ﺣﻘﻮق اﻻﻗﻠﯿﮫ‬

‫ ﻣﻦ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ﺣﯿﺚ أن اﻟﻨﺴﺒﮫ اﻟﻤﺘﺒﻘﯿﮫ واﻟﻐﯿﺮ‬%١٠٠ ‫ ﻓﻲ ﺣﺎﻟﺔ أن اﻟﻘﺎﺑﻀﮫ ﺗﻤﻠﻚ أﻗﻞ ﻣﻦ‬-
‫ﻣﻤﻠﻮﻛﮫ ﻟﻠﻘﺎﺑﻀﮫ ﺗﻤﺜﻞ ﺣﻘﻮق اﻻﻗﻠﯿﮫ و ﯾﺘﻢ أظﮭﺎره ﻓﻲ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه واﻟﺬي ﺗﺨﺘﻠﻒ‬
‫ﻗﯿﻤﺘﮫ ﺣﺴﺐ ﻣﻔﮭﻮم أو طﺮﯾﻘﺔ اﻟﻤﻌﺎﻟﺠﮫ اﻟﻤﺤﺎﺳﺒﯿﮫ ) ﻣﻔﮭﻮم اﻟﺸﺮﻛﮫ اﻻم أو ﻣﻔﮭﻮم اﻟﻮﺣﺪه‬
‫اﻻﻗﺘﺼﺎدﯾﮫ ( واﻟﺬي ﺳﯿﺘﻢ اﻟﺘﻄﺮق ﻟﮫ ﻻﺣﻘﺎ‬

1 Merger Investment Cost = Net assets

2 Merger Investment Cost > Net assets Positive Goodwill
3 Merger Investment Cost < Net assets Reducing Assets
4 Merger (Investment Cost - Net assets) < Fixed assets Negative Goodwill
5 Consolidation 2 Merger situations
6 Acquisition 100%
7 Acquisition From 50% - less than 100%

Date of Combination
a. Start of the accounting year expenses and income accounts Balance = ( Zero )
b. Through the accounting year expenses and income accounts Balance > ( Zero )
A ) Entry Vouchers in Comp. A Book
From Investment in Comp. B XXX
To
Investment Cost Cash X Include direct Expenses
= Stocks X In Par Value
Net Assets Value Additional Paid-in Capital X
From Additional Paid-in Capital X
=== > To Cash X Stock Issue Expenses
From Assets ( Comp. B ) XXXX Faire Values
To
Credits & Duties ( Comp. B ) X
Investment in Comp. B XXX
Investment Cost From Assets ( Comp. B ) XX
> Goodwill X Difference Between
Net Assets Value To Investment Cost - Net Assets Value
=== > Credits & Duties ( Comp. B ) X
Investment in Comp. B XXX
Investment Cost we deduct the difference from the Comp. B fixed assets
< === > each in it's Percentage from the all fixed assets Fair Value
Net Assets Value if the defference Value more than the fixed assets ==> Negative Goodwill
Defference Value From Current Assets ( Comp. B ) XXX
< To
Fixed Assets Value Credits & Duties ( Comp. B ) X Negative Goodwill
=== > Investment in Comp. B X
Negative Goodwill Deferred Credit X Deferrence Value - Fixed assets Fair Value

Page 3 of 14
‫‪Master Program‬‬ ‫‪Advanced Financial Accounting‬‬ ‫‪last update 4/22/2013‬‬

‫اﻟﻘﯿﻮد ﻓﻲ دﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮه ﻓﻲ ﺣﺎﻟﺘﻲ اﻻﻧﺪﻣﺎج واﻻﺗﺤﺎد‬

‫) طﺮﯾﻘﺔ اﻟﺸﺮاء (‬
‫) اﻟﻔﺮض أن اﻟﺸﺮﻛﮫ ‪ A‬اﻟﻤﺴﺘﺜﻤﺮه أﺷﺘﺮت اﻟﺸﺮﻛﮫ ‪ B‬اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ (‬

‫) أﺛﺒﺎت ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر ﺑﻜﻠﻔﺘﮫ (‬ ‫ﻗﯿﺪ رﺳﻤﻠﺔ اﻻﺳﺘﺜﻤﺎر ﻓﻲ دﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ ‪A‬‬ ‫‪(١‬‬
‫) ﻛﺎﻣﻞ ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر (‬ ‫ﻣﻦ ح‪ /‬اﻻﺳﺘﺜﻤﺎر ﻓﻲ ‪B‬‬
‫اﻟﻰ ﻣﺬﻛﻮرﯾﻦ‬
‫) اﻟﻤﺪﻓﻮع ﻧﻘﺪا ﺛﻤﻦ ﺷﺮاء وﻣﺼﺎرﯾﻒ ﻣﯿﺎﺷﺮه (‬ ‫ح‪ /‬اﻟﻨﻘﺪﯾﮫ‬
‫) اﻟﻘﯿﻤﮫ اﻻﺳﻤﯿﮫ ﻟﻼﺳﮭﻢ اﻟﻤﺼﺪره ﻣﻦ ‪ A‬ﻟﺸﺮاء ‪( B‬‬ ‫ح‪ /‬رأس اﻟﻤﺎل‬
‫ح‪ /‬رأس اﻟﻤﺎل اﻻﺿﺎﻓﻲ ) اﻟﻘﯿﻤﮫ اﻟﻤﺪﻓﻮﻋﮫ ﺑﺎﻟﺰﯾﺎده ﻋﻦ اﻟﻘﯿﻤﮫ اﻻﺳﻤﯿﮫ ﻟﻼﺳﮭﻢ اﻟﻤﺼﺪره (‬
‫أﺛﺒﺎت اﻻﺳﺘﺜﻤﺎر ﻓﻲ اﻟﺸﺮﻛﮫ ‪ B‬ﺑﺎﻟﻜﻠﻔﮫ ﻣﺎ دام ﺣﺠﻢ اﻻﺳﺘﺜﻤﺎر ﻣﻦ ‪ ) % ١٠٠ – ٢٠‬اﻻﻧﺪﻣﺎج واﻻﺗﺤﺎد واﻟﺴﯿﻄﺮه (‬

‫) ﻓﻲ اﻻﻧﺪﻣﺎج واﻻﺗﺤﺎد (‬ ‫ﻗﯿﺪ ﻧﻘﻞ أﺻﻮل واﻟﺘﺰاﻣﺎت اﻟﺸﺮﻛﮫ ‪ B‬اﻟﻰ دﻓﺎﺗﺮاﻟﺸﺮﻛﮫ ‪A‬‬ ‫‪(٢‬‬
‫ﻣﻦ ﻣﺬﻛﻮرﯾﻦ‬
‫) ﻗﯿﻢ ﺳﻮﻗﯿﮫ ﻣﻌﺎﻟﺠﮫ ﺑﺎﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ أن وﺟﺪت (‬ ‫ح‪ /‬أﺻﻮل ‪B‬‬
‫) اﻟﺰﯾﺎده ﻓﻲ اﻟﻜﻠﻔﮫ ﻋﻦ ﺻﺎﻓﻲ أﺻﻮل ‪ B‬اﻟﺴﻮﻗﯿﮫ (‬ ‫ح‪ /‬ﺷﮭﺮة اﻟﻤﺤﻞ‬
‫اﻟﻰ ﻣﺬﻛﻮرﯾﻦ‬
‫) ﻗﯿﻢ ﺳﻮﻗﯿﮫ (‬ ‫ح‪ /‬اﻟﺘﺰاﻣﺎت ‪B‬‬
‫) اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ اﻟﺰاﺋﺪه ﻋﻦ ﻗﯿﻤﺔ أﺻﻮل ‪ B‬طﻮﯾﻠﺔ اﻻﺟﻞ اﻟﺴﻮﻗﯿﮫ (‬ ‫ح‪ /‬أﯾﺮادات ﻣﺆﺟﻠﮫ‬
‫) ﻛﺎﻣﻞ ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر (‬ ‫ح‪ /‬اﻻﺳﺘﺜﻤﺎر ﻓﻲ ‪B‬‬
‫أﺛﺒﺎت ﻧﻔﻞ أﺻﻮل واﻟﺘﺰاﻣﺎت ‪ B‬ﺑﺎﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ ﻟﺪﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ ‪ A‬وأﻏﻼق ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ) ﺣﺴﺐ طﺮﯾﻘﺔ‬
‫اﻟﺸﺮاء (‬
‫ﻓﻲ ﺣﺎﻟﺔ اﻟﺘﻤﻠﻚ ) ‪ ( Acquisition‬اﻟﺘﻲ ﯾﻮﺟﺪ ﻓﯿﮭﺎ ﻗﺎﺑﻀﮫ وﺗﺎﺑﻌﮫ ﻣﺴﺘﻘﻠﺘﯿﻦ ﻓﯿﺘﻢ ﻋﻤﻞ ﻗﻮاﺋﻢ ﻣﺎﻟﯿﮫ ﻣﻮﺣﺪه ﺗﻈﮭﺮ ﻣﺠﻤﻮع‬
‫أﺻﻮل واﻟﺘﺰاﻣﺎت اﻟﺸﺮﻛﺘﯿﻦ ﻣﻌﺎ ﻣﺒﺎﺷﺮه ﺑﻌﺪ اﻟﺸﺮاء‪.‬‬

‫‪ ‬ﻓﻲ ﺣﺎﻟﺘﻲ اﻟﺪﻣﺞ واﻻﺗﺤﺎد ﺑﻌﺪ أن ﯾﺘﻢ ﻧﻘﻞ اﻻﺻﻮل واﻻﻟﺘﺰاﻣﺎت ﻛﻤﺎ ھﻮ ﻣﻮﺿﺢ ﺑﺎﻟﻘﯿﺪﯾﻦ أﻋﻼه ﻓﺄﻧﮫ ﯾﺼﺒﺢ ھﻨﺎﻟﻚ‬
‫ﺷﺮﻛﮫ واﺣﺪه وﻻ ﯾﺘﺮﺗﺐ ﻗﯿﻮد ﺧﺎﺻﮫ ﺑﺎﻻﺳﺘﺜﻤﺎراﻟﺬي ﺗﻢ أﻏﻼﻗﮫ‪.‬‬

‫‪ ‬ﻓﻲ ﺣﺎﻟﺔ اﻟﺴﯿﻄﺮه ) ‪ ( Acquisition‬ﺗﺒﻘﻰ ﻓﯿﮭﺎ ﺷﺮﻛﺘﯿﻦ ﻣﺴﺘﻘﻠﺘﯿﻦ ﻣﺎﻟﯿﺎ وﻣﺤﺎﺳﺒﯿﺎ ﻓﺄن ﻋﻠﻰ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ‬
‫ﻣﻌﺎﻟﺠﺔ ﺣﺼﺘﮭﺎ ﻓﻲ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ﻓﻲ دﻓﺎﺗﺮھﺎ واﻟﺬي ﻗﺪ ﯾﺘﻢ ﺑﺄﺳﺘﺨﺪام طﺮﯾﻘﺔ اﻟﻜﻠﻔﮫ أو طﺮﯾﻘﺔ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‪،‬‬
‫ﺑﺎﻻﺿﺎﻓﮫ اﻟﻰ أﻧﮫ ﯾﻘﻊ ﻋﻠﯿﮭﺎ ﻋﺐء أﻋﺪاد ﻗﻮاﺋﻢ ﻣﺎﻟﯿﮫ ﻣﻮﺣﺪه ﺧﺎرج دﻓﺎﺗﺮھﺎ وھﻨﺎ ﻧﻼﺣﻆ أﻧﮫ ﻻ ﯾﻮﺟﺪ أي ﺗﺄﺛﯿﺮ أو‬
‫أﻧﻌﻜﺎﺳﺎت ﻋﻠﻰ دﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ﺑﻮﺟﻮد اﻻﺳﺘﺜﻤﺎر ‪.‬‬
‫‪ ‬أن ﻗﯿﺪ أﺛﺒﺎت ﺷﺮاء اﻻﺳﺘﺜﻤﺎر ) رﺳﻤﻠﺔ اﻻﺳﺘﺜﻤﺎر ( ﻻ ﯾﺨﺘﻠﻒ ﻓﻲ ﺣﺎﻟﺔ اﻟﺴﯿﻄﺮه ﻋﻦ ﺣﺎﻟﺘﻲ اﻻﻧﺪﻣﺎج واﻻﺗﺤﺎد‬
‫واﻟﻤﻮﺿﺤﮫ أﻋﻼه‪.‬‬

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‫‪Master Program‬‬ ‫‪Advanced Financial Accounting‬‬ ‫‪last update 4/22/2013‬‬

‫اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه‬

‫‪Consolidation Financial Statements‬‬
‫ھﻲ ﻗﻮاﺋﻢ ﻣﺎﻟﯿﮫ ﯾﺘﻢ ﻓﯿﮭﺎ ﺗﻮﺣﯿﺪ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ ﻟﻠﺸﺮﻛﺘﯿﻦ ﻓﻲ ﻗﻮاﺋﻢ ﻣﻮﺣﺪه ) ﻓﻲ ﺣﺎﻟﺔ اﻟﺘﻤﻠﻚ ‪Acquisition‬‬ ‫‪‬‬
‫( ﺣﯿﺚ ﺗﺒﯿﻦ اﻟﻘﯿﻢ اﻟﺪﻓﺘﺮﯾﮫ ﻟﻠﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ واﻟﻘﯿﻢ اﻟﺴﻮﻗﯿﮫ اﻟﻌﺎدﻟﮫ ﺑﺘﺎرﯾﺦ اﻟﺸﺮاء ﻟﻤﺎ ﯾﺨﺺ اﻟﺸﺮﻛﮫ‬
‫اﻟﻘﺎﺑﻀﮫ )‪ (Parent Company‬ﻓﻲ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ )‪ (Subsidiary Company‬ﺑﻌﺪ ﻣﻌﺎﻟﺠﺔ‬
‫واﻟﻐﺎء اﻟﻌﻤﻠﯿﺎت اﻟﻤﺎﻟﯿﮫ اﻟﻤﺘﺪاﺧﻠﮫ واﻟﻤﺘﺒﺎدﻟﮫ ﺑﯿﻦ اﻟﺸﺮﻛﺘﯿﻦ‪.‬‬
‫اﻟﺤﺎﺟﮫ ﻟﻠﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ ﺗﻜﻮن ﻟﻮﺟﻮد ﺷﺮﻛﺘﯿﻦ ﻣﻨﻔﺼﻠﺘﯿﻦ اﻻ أن اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ﺗﻤﻠﻚ اﻟﺴﯿﻄﺮه ﻋﻠﻰ‬ ‫‪‬‬
‫ﻗﺮارات اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ وﺑﮭﺬه اﻟﺤﺎﻟﮫ ﺗﻜﻮن وﺟﮭﺔ اﻟﻨﻈﺮ اﻟﻤﺎﻟﯿﮫ واﻟﻘﺎﻧﻮﻧﯿﮫ ﻟﻠﺸﺮﻛﺘﯿﻦ ﻋﻠﻰ أﻧﮭﻢ ﺷﺮﻛﮫ واﺣﺪه‬
‫ﺑﻐﺾ اﻟﻨﻈﺮﻋﻦ ﻧﺴﺒﺔ اﻟﺘﻤﻠﻚ ﻣﺎ داﻣﺖ ﺗﺘﺮاوح ﻣﺎ ﺑﯿﻦ ‪ . % ١٠٠ – ٥٠‬وﺗﻘﻮم ﻓﻜﺮة اﻟﻘﻮاﺋﻢ اﻟﻤﻮﺣﺪه ﻋﻠﻰ‬
‫أﻓﺘﺮاض ﻣﺸﺎﺑﮫ ﻟﻠﻔﺮوع ﺣﯿﺚ ﯾﺘﻢ ﻣﻌﺎﻣﻠﺔ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ﻛﺎﻟﻤﺮﻛﺰ واﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ﻛﺎﻟﻔﺮع ‪.‬‬
‫اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ھﻲ ‪-:‬‬ ‫‪‬‬
‫‪ ‬ﻗﺎﺋﻤﺔ اﻟﺪﺧﻞ اﻟﻤﻮﺣﺪه‬
‫‪ ‬ﻛﺸﻒ اﻻرﺑﺎح اﻟﻤﺤﺘﺠﺰه اﻟﻤﻮﺣﺪ‬
‫اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه‬ ‫‪‬‬
‫‪ ‬ﻛﺸﻒ اﻟﺘﺪﻓﻘﺎت اﻟﻨﻘﺪﯾﮫ اﻟﻤﻮﺣﺪ‬
‫اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ﺗﻜﻮن ﺧﺎرج ﺳﺠﻼت ﻛﻞ ﻣﻦ اﻟﺸﺮﻛﺘﯿﻦ‪ ،‬وﯾﻜﻮن ﻋﺐء أﻋﺎدادھﺎ ﻣﻦ ﻣﺴﺆوﻟﯿﺔ‬ ‫‪‬‬
‫اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ‪.‬‬
‫ھﻨﺎﻟﻚ أﺳﺘﺜﻨﺎء ﺣﯿﺚ ﻻﯾﺘﻢ أﻋﺪاد اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ﻓﻲ ﺣﺎﻟﺔ اﻻﺳﺘﺜﻤﺎر ﻣﻦ ‪ % ١٠٠ – ٥٠‬ﻓﻲ أي ﻣﻦ‬ ‫‪‬‬
‫اﻟﺤﺎﻟﺘﯿﻦ اﻟﺘﺎﻟﯿﺘﯿﻦ ‪-:‬‬
‫‪ ‬أذا ﻛﺎن اﻻﺳﺘﺜﻤﺎر ﻟﻔﺘﺮه ﻣﺆﻗﺘﮫ – أي اﻟﻐﺎﯾﮫ ھﻲ اﻟﺒﯿﻊ ﺑﻌﺪ ﻓﺘﺮه ﻟﺘﺤﻘﯿﻖ اﻟﺮﺑﺢ ﻣﻦ ﻓﺮق‬
‫اﻟﺴﻌﺮ وﻟﯿﺲ ﻣﻦ اﻟﺘﺸﻐﯿﻞ ﻟﻠﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ‪.‬‬
‫‪ ‬أذا ﻛﺎن اﻻﺳﺘﺜﻤﺎر ﻓﻲ دوﻟﮫ ﺗﻤﻨﻊ اﻟﺴﯿﻄﺮه‬

‫اﻻﺟﺮاءات اﻟﻤﺘﺒﻌﮫ ﻓﻲ أﻋﺪاد اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه‬

‫‪ .١‬اﻟﺤﺼﻮل ﻋﻠﻰ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ ﻟﻜﻞ ﻣﻦ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ واﻟﺘﺎﺑﻌﮫ‬
‫‪ .٢‬ﺗﻔﺮﯾﻎ ﺑﯿﺎﻧﺎت اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ ﻟﻠﺸﺮﻛﺘﯿﻦ ﻓﻲ ﻧﻤﻮذج ورﻗﺔ اﻟﻌﻤﻞ ) ‪( Working Paper‬‬
‫‪ .٣‬أﺟﺮاء اﻟﺘﻌﺪﯾﻼت ﻟﺒﻌﺾ اﻟﺒﻨﻮد ﺗﺤﺖ أﻋﻤﺪة ﻣﺪﯾﻦ وداﺋﻦ ﻓﻲ اﻟﺘﺴﻮﯾﺎت‪.‬‬
‫‪ .٤‬ﺟﻤﻊ ﻗﯿﻤﺔ ﻛﻞ ﺑﻨﺪ ﻓﻲ اﻟﻌﻤﻮد اﻻﺧﯿﺮ ﻣﻦ ورﻗﺔ اﻟﻌﻤﻞ ) اﻟﺮﺻﯿﺪ اﻟﻤﻮﺣﺪ (‬
‫‪Working Paper‬‬ ‫ورﻗﺔ اﻟﻌﻤﻞ‬
‫اﻟﺮﺻﯿــﺪ اﻟﻤﻮﺣـــــــــﺪ‬ ‫اﻟﺘﺴــــــــــــــﻮﯾﺎت‬ ‫اﻟﺘﺎﺑﻌﮫ‬ ‫اﻟﻘﺎﺑﻀﮫ‬ ‫اﻟﺒﯿــــــــﺎن‬
‫‪Adjustments & Eliminations‬‬ ‫‪Subsidiary‬‬ ‫‪Parent‬‬
‫‪Consolidation Balance‬‬ ‫‪Account‬‬
‫‪Credit‬‬ ‫‪Debit‬‬ ‫‪BV‬‬ ‫‪BV‬‬

‫‪ ‬اﻟﻘﺎﻧﻮن أو اﻟﻨﻈﺎم اﻟﻤﺤﺎﺳﺒﻲ ﻻ ﯾﺘﻄﻠﺐ ﺷﻜﻞ ﻣﺤﺪد ﻻوراق اﻟﻌﻤﻞ اﻟﻤﻮﺣﺪه ﻛﻤﺎ ﻻﯾﺘﻄﻠﺐ ﻋﻤﻞ ﻗﯿﻮد اﻟﺘﺴﻮﯾﮫ‬
‫ﻟﮭﺎ وﻋﻠﯿﮫ ﯾﻤﻜﻦ ﻋﻤﻠﮭﺎ ﺑﺄي ﺷﻜﻞ ﻧﺮﯾﺪه ‪.‬‬
‫‪ ‬ﯾﻤﻜﻦ أﺳﺘﺨﺪام اﻟﻄﺮﯾﻘﮫ اﻟﻤﺒﺎﺷﺮه ﻓﻲ أﻋﺪاد اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ) دون أﺳﺘﺨﺪام ﻗﯿﻮد (‬
‫‪ ‬وﯾﻤﻜﻦ أﺳﺘﺨﺪام اﻟﻘﯿﻮد ) ﻗﯿﻮد ﺗﺴﻮﯾﮫ ﻟﻠﻘﻮاﺋﻢ اﻟﻤﻮﺣﺪه ( ﻓﻲ أﻋﺪاد اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه‬

‫ﻗﯿﻮد ﺗﺴﻮﯾﺔ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ ﻻﺗﺮﺣﻞ ﻻﻧﮭﺎ ﻟﯿﺲ ﻟﮭﺎ دﻓﺎﺗﺮ ﻣﺤﺎﺳﺒﯿﮫ ) ھﻲ ﻗﯿﻮد ﺧﺎرج دﻓﺎﺗﺮ ﻛﻞ ﻣﻦ اﻟﺸﺮﻛﺘﯿﻦ‬
‫(‬

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‫‪Master Program‬‬ ‫‪Advanced Financial Accounting‬‬ ‫‪last update 4/22/2013‬‬

‫ﻗﯿﻮد ﺗﺴﻮﯾﺔ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ﺑﻌﺪ اﻟﺸﺮاء ﻣﺒﺎﺷﺮه‬

‫ﺣﺴﺐ ﻣﻔﮭﻮم اﻟﺸﺮﻛﮫ اﻻم ) اﻟﻘﺎﺑﻀﮫ ( ‪Parent Company Concept‬‬
‫) اﻟﻔﺮض أن اﻟﺸﺮﻛﮫ ‪ A‬اﻟﻤﺴﺘﺜﻤﺮه أﺷﺘﺮت ﻧﺴﺒﺔ ) ‪ ( A%‬ﻣﻦ اﻟﺸﺮﻛﮫ ‪ B‬اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ(‬
‫وﺑﺬﻟﻚ ﯾﻜﻮن اﻟﺠﺰء اﻟﻤﺘﺒﻘﻲ اﻟﺬي ﻻﺗﻤﻠﻜﮫ ‪ A‬ﻓﻲ ‪ B‬ﺣﻘﻮق اﻟﻐﯿﺮ = ) ‪ ١‬ــ ‪B% = ( A%‬‬

‫ﻣﻦ ﻣﺬﻛﻮرﯾﻦ‬
‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ ﺳﺠﻼت ‪( B‬‬ ‫ح‪ /‬رأس ﻣﺎل ‪B‬‬
‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ ﺳﺠﻼت ‪( B‬‬ ‫ح‪ /‬أرﺑﺎح ﻣﺤﺘﺠﺰه ‪B‬‬
‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ ﺳﺠﻼت ‪( B‬‬ ‫ح‪ /‬رأس اﻟﻤﺎل اﻻﺿﺎﻓﻲ ‪B‬‬
‫) ‪ × A%‬اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﺰاﺋﺪه ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ‪( B‬‬ ‫ح‪ /‬أﺻﻮل ‪B‬‬
‫) ‪ × A%‬اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﻨﺎﻗﺼﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ‪( B‬‬ ‫ح‪ /‬اﻟﺘﺰاﻣﺎت ‪B‬‬
‫) ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر ــ )‪ × A%‬ﺻﺎﻓﻲ أﺻﻮل ‪ B‬اﻟﺴﻮﻗﯿﮫ((‬ ‫ح‪ /‬ﺷﮭﺮة اﻟﻤﺤﻞ‬
‫اﻟﻰ ﻣﺬﻛﻮرﯾﻦ‬
‫) ‪ × A%‬اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﻨﺎﻗﺼﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ‪( B‬‬ ‫ح‪ /‬أﺻﻮل ‪B‬‬
‫) اﻟﺘﺨﻔﯿﺾ ﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل طﻮﯾﻠﺔ اﻻﺟﻞ ‪ B‬ﺑﻘﯿﻤﺔ اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ (‬ ‫ح‪ /‬أﺻﻮل ‪B‬‬
‫) ‪ × A%‬اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﺰاﺋﺪه ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ‪( B‬‬ ‫ح‪ /‬اﻟﺘﺰاﻣﺎت ‪B‬‬
‫) اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ اﻟﺰاﺋﺪه ﻋﻦ ﻗﯿﻤﺔ أﺻﻮل ‪ B‬طﻮﯾﻠﺔ اﻻﺟﻞ اﻟﺴﻮﻗﯿﮫ (‬ ‫ح‪ /‬أﯾﺮادات ﻣﺆﺟﻠﮫ‬
‫) ‪ × B%‬ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ اﻟﺪﻓﺘﺮﯾﮫ ﻓﻲ ‪( B‬‬ ‫ح‪ /‬ﺣﻘﻮق اﻻﻗﻠﯿﮫ‬
‫) ﻛﺎﻣﻞ ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر واﻟﻤﺜﺒﺘﮫ ﻓﻲ دﻓﺎﺗﺮ ‪ A‬ﻋﻨﺪ ﺷﺮاء اﻻﺳﺘﺜﻤﺎر (‬ ‫ح‪ /‬اﻻﺳﺘﺜﻤﺎر ﻓﻲ ‪B‬‬

‫ﻗﯿﺪ اﻟﺘﺴﻮﯾﮫ اﻟﺨﺎص ﺑﺘﺴﻮﯾﺎت اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ) اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه ( واﻟﺬي ﯾﻌﺪ ﺧﺎرج دﻓﺎﺗﺮ‬
‫اﻟﺸﺮﻛﺘﯿﻦ‬

‫ﻣﻔﺎھﯿﻢ اﻟﻘﯿﺪ‬
‫) زﯾﺎدة اﻻﺻﻮل ﺗﻜﻮن ﺑﺠﻌﻠﮭﺎ ﻣﺪﯾﻨﮫ وﺗﺨﻔﯿﺾ اﻟﺨﺼﻮم ﯾﻜﻮن ﺑﺠﻌﻠﮭﺎ ﻣﺪﯾﻨﮫ (‬ ‫‪ ‬ﻓﻲ اﻟﻄﺮف اﻟﻤﺪﯾﻦ ﻟﻠﻘﯿﺪ‬
‫) اﻟﻮارد ﻓﻲ دﻓﺎﺗﺮ ‪ B‬ﺑﺎﻟﻜﺎﻣﻞ (‬ ‫ﺗﻢ أﻏﻼق )أﺳﺘﺒﻌﺎد ( ﺣﺴﺎب ﺣﻘﻮق ﻣﻠﻜﯿﺔ اﻟﺸﺮﻛﮫ ‪B‬‬ ‫‪(١‬‬
‫ﺗﻢ زﯾﺎدة ﻗﯿﻤﺔ اﺻﻮل ‪ B‬ﺑﻤﺎ ﯾﺨﺺ ‪ ( A% ) =A‬ﻓﻲ اﻟﺰﯾﺎده ﺑﺎﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ﻻﺻﻮل ‪B‬‬ ‫‪(٢‬‬
‫ﺗﻢ ﺗﺨﻔﯿﺾ ﻗﯿﻤﺔ اﻟﺘﺰاﻣﺎت ‪ B‬ﺑﻤﺎ ﯾﺨﺺ ‪ ( A% ) =A‬ﻓﻲ اﻟﻨﻘﺺ ﺑﺎﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ﻻﻟﺘﺰاﻣﺎت‬ ‫‪(٣‬‬
‫‪B‬‬
‫ﺗﻢ ﻣﻌﺎﻟﺠﺔ زﯾﺎدة ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر ﻋﻦ ﺣﻖ ‪ A‬ﻓﻲ ﺻﺎﻓﻲ أﺻﻮل ‪ B‬ﺑﺤﺴﺎب ﺷﮭﺮة اﻟﻤﺤﻞ‬ ‫‪(٤‬‬

‫) ﺗﺨﻔﯿﺾ اﻻﺻﻮل ﯾﻜﻮن ﺑﺠﻌﻠﮭﺎ داﺋﻨﮫ وزﯾﺎدة اﻟﺨﺼﻮم ﯾﻜﻮن ﺑﺠﻌﻠﮭﺎ داﺋﻨﮫ (‬ ‫‪ ‬ﻓﻲ اﻟﻄﺮف اﻟﺪاﺋﻦ ﻟﻠﻘﯿﺪ‬
‫ﺗﻢ ﺗﺨﻔﯿﺾ ﻗﯿﻤﺔ اﺻﻮل ‪ B‬ﺑﻤﺎ ﯾﺨﺺ ‪ ( A% ) =A‬ﻓﻲ اﻟﻨﻘﺺ ﺑﺎﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ﻻﺻﻮل ‪B‬‬ ‫‪(١‬‬
‫ﺗﻢ ﺗﺨﻔﯿﺾ ﻗﯿﻤﺔ اﺻﻮل ‪ B‬طﻮﯾﻠﺔ اﻻﺟﻞ ﺑﻘﯿﻤﺔ اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ‬ ‫‪(٢‬‬
‫ﺗﻢ زﯾﺎدة ﻗﯿﻤﺔ اﻟﺘﺰاﻣﺎت ‪ B‬ﺑﻤﺎ ﯾﺨﺺ ‪ ( A% ) =A‬ﻓﻲ اﻟﺰﯾﺎده ﺑﺎﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ﻻﻟﺘﺰاﻣﺎت ‪B‬‬ ‫‪(٣‬‬
‫ﺗﻢ ﻣﻌﺎﻟﺠﺔ اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ اﻟﻔﺎﺋﻀﮫ ﺑﻌﺪ ﻣﻌﺎﻟﺠﺘﮭﺎ ﻓﻲ اﻟﺒﻨﺪ ‪ ٢‬أﻋﻼه ﺑﺄﺛﺒﺎﺗﮭﺎ ﻛﺄﯾﺮاد ﻣﺆﺟﻞ‬ ‫‪(٤‬‬
‫ﺗﻢ أﺛﺒﺎت ﺣﻘﻮق اﻟﻐﯿﺮ واﻟﺘﻲ ﻟﻤﻢ ﺗﺘﻤﻠﻜﮭﺎ اﻟﺸﺮﻛﮫ ‪ A‬ﻓﻲ ‪ (B%) = B‬ﻣﻦ ﺣﻘﻮق ﻣﻠﻜﯿﺔ ‪ B‬اﻟﺪﻓﺘﺮﯾﮫ ) أو‬ ‫‪(٥‬‬
‫ﺻﺎﻓﻲ ﻗﯿﻤﺔ أﺻﻮل ‪ B‬اﻟﺪﻓﺘﺮﯾﮫ ( و ذﻟﻚ ﺣﺴﺐ ﻣﻔﮭﻮم اﻟﺸﺮﻛﮫ اﻻم ) اﻟﻘﺎﺑﻀﮫ ( ‪Parent Company‬‬
‫‪Concept‬ﻋﻠﻤﺎ ﺑﺎﻧﮫ ﯾﻮﺟﺪ ﻣﻌﺎﻟﺠﮫ أﺧﺮى ﻣﻤﻜﻨﮫ ﺣﺴﺐ ﻣﻔﮭﻮم اﻟﻮﺣﺪه اﻻﻗﺘﺼﺎدﯾﮫ ‪Economic Unit‬‬
‫‪ Concept‬واﻟﺘﻲ ﺗﻌﺘﻤﺪ ﺻﺎﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل اﻟﺴﻮﻗﯿﮫ ) اﻟﻌﺎدﻟﮫ ( ﺑﺪﻻ ﻣﻦ ﺻﺎﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل اﻟﺪﻓﺘﺮﯾﮫ ل‬
‫‪B‬‬

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‫‪ (٦‬ﺗﻢ أﻏﻼق ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﻓﻲ ‪ B‬واﻟﻮارد ﺿﻤﻦ ﺣﺴﺎﺑﺎت اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ‪. A‬‬

‫أﺳﺘﻨﺘﺎﺟﺎت ﻗﯿﺪ ﺗﺴﻮﯾﺔ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ﺑﻌﺪ اﻟﺸﺮاء‬

‫ﺣﺴﺐ ﻣﻔﮭﻮم اﻟﺸﺮﻛﮫ اﻻم ) اﻟﻘﺎﺑﻀﮫ ( ‪Parent Company Concept‬‬
‫) ﺻﺎﻓﻲ اﻻﺻﻮل ﻓﻲ اﻟﻤﯿﺰاﻧﯿﮫ = ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ (‬
‫اﻟﻘﯿﻢ اﻟﺘﻲ ﺗﻀﻤﻨﮭﺎ اﻟﻘﻮاﺋﻢ اﻟﻤﻮﺣﺪه ) ﻗﺎﺋﻤﺔ اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه (‬

‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ دﻓﺎﺗﺮ ‪( A‬‬ ‫أﺻﻮل ‪A‬‬ ‫‪+‬‬

‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ دﻓﺎﺗﺮ ‪( B‬‬ ‫أﺻﻮل ‪B‬‬ ‫‪+‬‬ ‫ﻟﻄﺮف‬
‫‪ × %A‬اﻟﺰﯾﺎده ﻓﻲ ﻗﯿﻤﺔ اﺻﻮل ‪ B‬اﻟﻌﺎدﻟﮫ ﻋﻦ ﻗﯿﻤﮭﺎ اﻟﺪﻓﺘﺮﯾﮫ‬ ‫‪+‬‬ ‫اﻟﻤﺪﯾﻦ‬
‫اﻟﻨﻘﺺ ﻓﻲ ﻗﯿﻤﺔ اﺻﻮل ‪ B‬اﻟﻨﺎﺗﺠﮫ ﻋﻦ اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ‬ ‫‪-‬‬ ‫) اﻻﺻﻮل (‬
‫‪ ) × %A‬اﻟﻜﻠﻔﮫ ‪ -‬ﺻﺎﻓﻲ ﻗﯿﻤﺔ أﺻﻮل ‪ B‬اﻟﺴﻮﻗﯿﮫ ( ‪ .....‬اﻟﺸﮭﺮه‬ ‫‪+‬‬
‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ دﻓﺎﺗﺮ ‪( A‬‬ ‫‪ +‬اﻟﺘﺰاﻣﺎت ‪A‬‬
‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ دﻓﺎﺗﺮ ‪( B‬‬ ‫‪ +‬اﻟﺘﺰاﻣﺎت ‪B‬‬
‫اﻟﻄﺮف‬
‫‪ × %A +‬اﻟﻔﺮق ﻓﻲ ﻗﯿﻤﺔ اﻟﺘﺰاﻣﺎت ‪ B‬اﻟﻌﺎدﻟﮫ ﻋﻦ ﻗﯿﻤﮭﺎ اﻟﺪﻓﺘﺮﯾﮫ‬ ‫اﻟﺪاﺋﻦ‬
‫‪ +‬اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ ) اﻟﺰاﺋﺪه ﻋﻦ اﻻﺻﻮل طﻮﯾﻠﺔ اﻻﺟﻞ اﻟﻌﺎدﻟﮫ ل ‪ B‬أﯾﺮاد ﻣﺆﺟﻞ‬ ‫اﻻﻟﺘﺰاﻣﺎت‬
‫‪ +‬ﺣﻘﻮق اﻻﻗﻠﯿﮫ )‪ × %B‬ﺻﺎﻓﻲ اﺻﻮل ‪ B‬اﻟﺪﻓﺘﺮﯾﮫ (‬ ‫‪+‬‬
‫‪ +‬ﺣﻘﻮق ﻣﻠﻜﯿﺔ ‪A‬‬ ‫ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬

‫‪ ‬ﺗﻢ ﻣﻌﺎﻟﺠﺔ ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر اﻟﻮارد ﻓﻲ دﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ‪ )A‬ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر ( ﻣﻘﺎﺑﻞ ﺻﺎﻓﻲ أﺻﻮل ‪B‬‬
‫اﻟﺪﻓﺘﺮﯾﮫ واﻟﻤﺴﺎوي ﻟﺤﻘﻮق ﻣﻠﻜﯿﺔ ‪ B‬اﻟﺪﻓﺘﺮﯾﮫ ﺣﯿﺚ ﺗﻢ أﻏﻼﻗﮭﻤﺎ ﺑﺒﻌﺾ ﻓﻲ اﻟﻘﻮاﺋﻢ اﻟﻤﻮﺣﺪه واﻟﻔﺮق ﺑﯿﻨﮭﻤﺎ‬
‫ﺗﻢ ﻣﻌﺎﻟﺠﺘﮫ ﺑﺎﻟﺸﮭﺮه اﻟﻤﻮﺟﺒﮫ أو اﻟﺴﺎﻟﺒﮫ‪.‬‬
‫ﻋﻠﻰ ﻓﺮض ﺗﺴﺎوي اﻟﻘﯿﻢ اﻟﺪﻓﺘﺮﯾﮫ ﻟﻠﻘﯿﻢ اﻟﺴﻮﻗﯿﮫ ﻻﺻﻮل واﻟﺘﺰاﻣﺎت ‪ B‬ﻓﺄن اﻟﻘﯿﺪ ﺳﯿﻘﺘﺼﺮ ﻋﻠﻰ ﺟﻌﻞ ﺣﻘﻮق‬
‫ﻣﻠﻜﯿﺔ ‪ B‬ﻣﺪﯾﻦ وﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر داﺋﻦ واﻟﻔﺮق ﺑﯿﻨﮭﻤﺎ ﯾﻜﻮن ﺷﮭﺮه ﻣﻮﺟﺒﮫ أو ﺳﺎﻟﺒﮫ ﯾﺨﻔﺾ ﺑﮭﺎ أﺻﻮل‬
‫‪ B‬طﻮﯾﻠﺔ اﻻﺟﻞ‬
‫‪ ‬ﺗﻢ أﻋﺎدة ﺗﻘﯿﯿﻢ ﻟﺼﺎﻓﻲ أﺻﻮل ‪ ) B‬ﺣﻘﻮق ﻣﻠﻜﯿﺔ ‪ ( B‬واﻻﻋﺘﺮاف ﺑﺎﻟﺠﺰء اﻟﺨﺎص ﻓﻲ ‪ A‬ﻣﻦ أﻋﺎدة اﻟﺘﻘﯿﯿﻢ‬
‫وﻋﻜﺲ أﺛﺮ أﻋﺎدة اﻟﺘﻘﯿﯿﻢ ﻋﻠﻰ اﻟﺸﮭﺮه اﻟﺘﻲ ﺗﻢ اﻟﺘﻮﺻﻞ اﻟﯿﮭﺎ ﻓﻲ اﻟﺒﻨﺪ أﻋﻼه‬

‫اﻟﺸﮭﺮه = اﻟﻜﻠﻔﮫ – ‪ ) A %‬أﺻﻮل ‪ – B‬ﺧﺼﻮم ‪( B‬‬

‫أي زﯾﺎده ﻟﻠﻘﯿﻢ اﻟﺴﻮﻗﯿﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ﻓﻲ اﻻﺻﻮل ﺳﺘﺨﻔﺾ اﻟﺸﮭﺮه وأي ﻧﻘﺺ ﺳﯿﺰﯾﺪ اﻟﺸﮭﺮه اﻟﻤﺤﺴﻮﺑﮫ أﻋﻼه‬
‫أي زﯾﺎده ﻟﻠﻘﯿﻢ اﻟﺴﻮﻗﯿﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ﻓﻲ ﻟﻼﻟﺘﺰاﻣﺎت ﺳﺘﺰﯾﺪ اﻟﺸﮭﺮه وأي ﻧﻘﺺ ﺳﯿﺨﻔﺾ اﻟﺸﮭﺮه اﻟﻤﺤﺴﻮﺑﮫ أﻋﻼه‬

‫‪ ‬ﺗﻢ ﻣﻌﺎﻟﺠﺔ ﺣﻖ اﻟﻐﯿﺮ أو اﻻﻗﻠﯿﮫ ) ‪ ( %B‬واﻟﺬي ﻟﻢ ﯾﺘﻢ أﻋﺎدة ﺗﻘﯿﯿﻤﮫ )ﺣﯿﺚ ﺗﻢ أﻋﺎدة ﺗﻘﯿﯿﻢ وأﺛﺒﺎت ﺷﮭﺮة ﻣﺤﻞ‬
‫ﻟﻤﺎ ﯾﺨﺺ ‪ %A‬ﻓﻘﻂ ( ﻛﻤﺎ ھﻮ ﻣﻮﺿﺢ أﻋﻼه وﻋﻠﯿﮫ ﻓﺄن ﺣﻖ اﻻﻗﻠﯿﮫ ﻻ ﯾﺸﻤﻞ أي ﻣﻦ ﻧﺘﺎﺋﺞ أﻋﺎدة اﻟﺘﻘﯿﯿﻢ‬
‫واﻟﺸﮭﺮه ‪.‬‬

‫‪ × % B‬ﺻﺎﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل اﻟﺪﻓﺘﺮﯾﮫ ﻟﻠﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪B‬‬ ‫ﺣﻘﻮق اﻟﻐﯿﺮ ) اﻻﻗﻠﯿﮫ ( =‬

‫‪ ‬ﺿﻤﻦ ﻣﻔﮭﻮم اﻟﺸﺮﻛﮫ اﻻم ﯾﺘﻢ أدراج ﺣﻘﻮق اﻟﻐﯿﺮ ﻓﻲ اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه ﺑﻌﺪ اﻻﻟﺘﺰاﻣﺎت وﻗﺒﻞ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬
‫وھﻲ ﺗﻌﺎدل‬

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‫ﻗﯿﻮد ﺗﺴﻮﯾﺔ اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ﺑﻌﺪ اﻟﺸﺮاء ﻣﺒﺎﺷﺮه‬

‫ﺣﺴﺐ ﻣﻔﮭﻮم اﻟﻮﺣﺪه اﻻﻗﺘﺼﺎدﯾﮫ ‪Economic Unit Concept‬‬
‫) اﻟﻔﺮض أن اﻟﺸﺮﻛﮫ ‪ A‬اﻟﻤﺴﺘﺜﻤﺮه أﺷﺘﺮت ﻧﺴﺒﺔ ) ‪ ( A%‬ﻣﻦ اﻟﺸﺮﻛﮫ ‪ B‬اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ(‬
‫وﺑﺬﻟﻚ ﯾﻜﻮن اﻟﺠﺰء اﻟﻤﺘﺒﻘﻲ اﻟﺬي ﻻﺗﻤﻠﻜﮫ ‪ A‬ﻓﻲ ‪ B‬ﺣﻘﻮق اﻟﻐﯿﺮ = ) ‪ ١‬ــ ‪B% = ( A%‬‬

‫‪ ‬ﺣﺴﺐ ﻣﻔﮭﻮم اﻟﻮﺣﺪه اﻻﻗﺘﺼﺎدﯾﮫ ﻓﺎﻧﮫ ﯾﺘﻄﻠﺐ أﻋﺘﺒﺎر اﻟﺸﺮﻛﺘﯿﻦ ﻛﻮﺣﺪه أﻗﺘﺼﺎدﯾﮫ واﺣﺪه وﻋﻠﯿﮫ ﻓﺄن ﻛﺎﻣﻞ‬
‫اﻟﻔﺮوﻗﺎت ﺑﯿﻦ اﻟﻘﯿﻤﮫ اﻟﺪﻓﺘﺮﯾﮫ واﻟﻌﺎدﻟﮫ ﻟﻼﺻﻮل واﻻﻟﺘﺰاﻣﺎت ﻟﻠﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ﺗﺆﺧﺬ ﺑﻌﯿﻦ اﻻﻋﺘﺒﺎر‬
‫ﻟﻐﺎﯾﺎت أﻋﺪاد اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه وﺗﺤﺘﺴﺐ اﻟﺸﮭﺮه ﻋﻠﻰ أﺳﺎس ‪. %١٠٠‬‬
‫‪ ‬ﺣﺴﺐ ﻣﻔﮭﻮم اﻟﻮﺣﺪه اﻻﻗﺘﺼﺎدﯾﮫ ﻓﺄن ﺣﻘﻮق اﻻﻗﻠﯿﮫ ﺗﺴﺎوي ‪ B%‬ﻣﻦ ﺻﺎﻓﻲ اﻟﻘﯿﻤﮫ اﻟﻌﺎدﻟﮫ ﻟﺼﺎﻓﻲ‬
‫أﺻﻮل ‪ B‬وﯾﺘﻢ أظﮭﺎر ﺣﺴﺎﺑﮭﺎ ﻓﻲ اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه ﺿﻤﻦ ﺣﻘﻮق اﻟﻤﺴﺎھﻤﯿﻦ وﻛﺒﻨﺪ ﻣﺴﺘﻘﻞ‪.‬‬

‫ﻣﻦ ﻣﺬﻛﻮرﯾﻦ‬
‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ ﺳﺠﻼت ‪( B‬‬ ‫ح‪ /‬رأس ﻣﺎل ‪B‬‬
‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ ﺳﺠﻼت ‪( B‬‬ ‫ح‪ /‬أرﺑﺎح ﻣﺤﺘﺠﺰه ‪B‬‬
‫) ﻗﯿﻢ دﻓﺘﺮﯾﮫ ﻣﻦ ﺳﺠﻼت ‪( B‬‬ ‫ح‪ /‬رأس اﻟﻤﺎل اﻻﺿﺎﻓﻲ ‪B‬‬
‫)اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﺰاﺋﺪه ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ‪( B‬‬ ‫ح‪ /‬أﺻﻮل ‪B‬‬
‫)اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﻨﺎﻗﺼﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ‪( B‬‬ ‫ح‪ /‬اﻟﺘﺰاﻣﺎت ‪B‬‬
‫) ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر ــ )‪ × A%‬ﺻﺎﻓﻲ أﺻﻮل ‪ B‬اﻟﺴﻮﻗﯿﮫ((‬ ‫ح‪ /‬ﺷﮭﺮة اﻟﻤﺤﻞ‬
‫اﻟﻰ ﻣﺬﻛﻮرﯾﻦ‬
‫)اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﻨﺎﻗﺼﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ‪( B‬‬ ‫ح‪ /‬أﺻﻮل ‪B‬‬
‫) اﻟﺘﺨﻔﯿﺾ ﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل طﻮﯾﻠﺔ اﻻﺟﻞ ‪ B‬ﺑﻘﯿﻤﺔ اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ (‬ ‫ح‪ /‬أﺻﻮل ‪B‬‬
‫)اﻟﻘﯿﻤﮫ اﻟﺴﻮﻗﯿﮫ اﻟﺰاﺋﺪه ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ‪( B‬‬ ‫ح‪ /‬اﻟﺘﺰاﻣﺎت ‪B‬‬
‫) اﻟﺸﮭﺮه اﻟﺴﺎﻟﺒﮫ اﻟﺰاﺋﺪه ﻋﻦ ﻗﯿﻤﺔ أﺻﻮل ‪ B‬طﻮﯾﻠﺔ اﻻﺟﻞ اﻟﺴﻮﻗﯿﮫ (‬ ‫ح‪ /‬أﯾﺮادات ﻣﺆﺟﻠﮫ‬
‫)ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ اﻟﺪﻓﺘﺮﯾﮫ ﻓﻲ ‪( B‬‬ ‫ح‪ /‬ﺣﻘﻮق اﻻﻗﻠﯿﮫ‬
‫) ﻛﺎﻣﻞ ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر واﻟﻤﺜﺒﺘﮫ ﻓﻲ دﻓﺎﺗﺮ ‪ A‬ﻋﻨﺪ ﺷﺮاء اﻻﺳﺘﺜﻤﺎر (‬ ‫ح‪ /‬اﻻﺳﺘﺜﻤﺎر ﻓﻲ ‪B‬‬
‫ﻗﯿﺪ اﻟﺘﺴﻮﯾﮫ اﻟﺨﺎص ﺑﺘﺴﻮﯾﺎت اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ اﻟﻤﻮﺣﺪه ) اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه ( واﻟﺬي ﯾﻌﺪ ﺧﺎرج دﻓﺎﺗﺮ‬
‫اﻟﺸﺮﻛﺘﯿﻦ‬

‫أﺣﺘﺴﺎب اﻟﺸﮭﺮه‬
‫= ) اﻟﻜﻠﻔﮫ ( – ) ‪ × %A‬ﺻﺎﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل اﻟﻌﺎدﻟﮫ ﻟﻠﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪( B‬‬ ‫‪ A%‬ﻣﻦ اﻟﺸﮭﺮه‬
‫؟؟؟‬ ‫=‬ ‫‪ %١٠٠‬ﻣﻦ اﻟﺸﮭﺮه‬

‫= ) اﻟﻜﻠﻔﮫ ÷ ‪) – ( A%‬ﺻﺎﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل اﻟﻌﺎدﻟﮫ ﻟﻠﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪( B‬‬ ‫‪ %١٠٠‬ﻣﻦ اﻟﺸﮭﺮه‬

‫أﺣﺘﺴﺎب ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬

‫ﺣﻘﻮق اﻟﻐﯿﺮ ) اﻻﻗﻠﯿﮫ ( = ‪ × % B‬ﺻﺎﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل اﻟﻌﺎدﻟﮫ ﻟﻠﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪B‬‬
‫وھﻨﺎ ﻛﻮن ﺻﺎﻓﻲ اﻻﺻﻮل اﻟﻌﺎدﻟﮫ ھﻲ اﻟﻤﻌﺘﻤﺪه ﻓﺄﻧﮭﺎ ﻻ ﺗﺴﺎوي ﺣﻘﻮق ﻣﻠﻜﯿﺔ ‪ B‬اﻟﺪﻓﺘﺮﯾﮫ‬
‫‪ ‬ﻣﻦ ﻣﻔﮭﻮم اﻟﻮﺣﺪه اﻻﻗﺘﺼﺎدﯾﮫ اﻻم ﯾﺘﻢ أدراج ﺣﻘﻮق اﻟﻐﯿﺮ ﻓﻲ اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه ﻓﻲ اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه‬
‫ﺿﻤﻦ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ ﻓﻲ ﺑﻨﺪ ﻣﺴﺘﻘﻞ‬

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‫اﻟﻄﺮق اﻟﻤﺤﺎﺳﺒﯿﮫ ﻟﻤﻌﺎﻟﺠﺔ ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﻓﻲ دﻓﺎﺗﺮ اﻟﻘﺎﺑﻀﮫ‬

‫ﻋﻨﺪ اﻟﺸﺮاء ﯾﺴﺠﻞ اﻻﺳﺘﺜﻤﺎر ﺑﻜﻠﻔﺘﮫ ) ﻧﻔﺲ ﻗﯿﺪ رﺳﻤﻠﺔ اﻻﺳﺘﺜﻤﺎر ﻓﻲ ﺣﺎﻟﺘﻲ اﻟﺪﻣﺞ واﻻﺗﺤﺎد ( اﻻ أﻧﮫ ﻓﻲ‬
‫اﻟﻔﺘﺮات اﻟﻼﺣﻘﮫ ﻟﻼﺳﺘﺜﻤﺎر ﻓﺄن ھﻨﺎﻟﻚ طﺮﯾﻘﺘﺎن ﻟﻤﻌﺎﻟﺠﺔ اﻻﺳﺘﺜﻤﺎر ﻓﻲ دﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ‪.‬‬

‫‪Equity Method‬‬ ‫طﺮﯾﻘﺔ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬ ‫‪.B‬‬

‫ﯾﺘﺄﺛﺮ ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﺑﺎﻟﺮﺑﺢ اﻟﻤﺤﻘﻖ واﻟﻤﻮزع ﻓﻲ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ﻛﺎﻟﺘﺎﻟﻲ‪:‬‬ ‫‪‬‬
‫‪ .a‬ﯾﺰداد ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﺑﺎﻟﻨﺴﺒﮫ اﻟﺘﻲ ﺗﺨﺺ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ﻣﻦ اﻻرﺑﺎح اﻟﺘﻲ ﺗﺤﻘﻘﮭﺎ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ‬
‫‪ .b‬ﯾﻨﻘﺺ ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﺑﺎﻟﻨﺴﺒﮫ اﻟﺘﻲ ﺗﺨﺺ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ﻣﻦ اﻻرﺑﺎح اﻟﻤﻮزﻋﮫ ﻟﻠﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ‬
‫‪ .c‬ﯾﻨﻘﺺ ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﺑﺎﻟﻨﺴﺒﮫ اﻟﺘﻲ ﺗﺨﺺ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ﻣﻦ اﻻطﻔﺎءات اﻟﺘﻲ ﺗﺘﻢ ﻓﻲ اﻟﻘﻮاﺋﻢ‬
‫اﻟﻤﻮﺣﺪه‬

‫‪Cost Method‬‬ ‫طﺮﯾﻘﺔ اﻟﻜﻠﻔﮫ‬ ‫‪.C‬‬

‫اﻻﺻﻞ ھﻮ أن ﻻ ﯾﺘﺄﺛﺮ ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﺑﺎﻟﺮﺑﺢ اﻟﻤﺤﻘﻖ واﻟﻤﻮزع ﻓﻲ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ‬ ‫‪‬‬
‫ھﻨﺎﻟﻚ أﺳﺘﺜﻨﺎء ﺣﯿﺚ ﺗﺘﻐﯿﺮ ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر ﻓﻲ أﺣﺪ اﻟﺤﺎﻻت اﻟﺘﺎﻟﯿﮫ ‪-:‬‬
‫‪ .a‬أذا أﻧﺨﻔﻀﺖ ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر اﻟﺴﻮﻗﯿﮫ ) ﻗﯿﻤﺔ ﺻﺎﻏﻲ أﺻﻮل اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ( ﺑﺸﻜﻞ ﻣﺴﺘﻤﺮ ﻋﻠﻰ‬
‫ﻣﺪار ﺛﻼث ﺳﻨﻮات أو أﻛﺜﺮ‪.‬‬
‫‪ .b‬أذا وزﻋﺖ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ أرﺑﺎح ﺗﻔﻮق ﻗﯿﻤﺔ اﻻرﺑﺎح اﻟﻤﺤﻘﻘﮫ ) أرﺑﺎح ﺗﺼﻔﯿﮫ (‬
‫أرﺑﺎح اﻟﺘﺼﻔﯿﮫ ) ‪ ( Liquidating Dividend‬ھﻲ ﺗﻮزﯾﻊ أرﺑﺎح أﻛﺜﺮ ﻣﻦ اﻟﺮﺑﺢ اﻟﻤﺤﻘﻖ ﻻﺣﺪى اﻟﻔﺘﺮات اﻟﻤﺎﻟﯿﮫ‬
‫ﺣﯿﺚ ﯾﻜﻮن ھﻨﺎﻟﻚ ﺗﻮزﯾﻊ ﻣﻦ اﻻرﺑﺎح اﻟﻤﺤﺘﺠﺰه أو اﻻﺣﺘﯿﺎطﯿﺎت ﻻول اﻟﻤﺪه‬

‫ﻣﺘﻰ ﺗﺴﺘﺨﺪام طﺮﯾﻘﺔ اﻟﻜﻠﻔﮫ و ﻣﺘﻰ ﺗﺴﺘﺨﺪام طﺮﯾﻘﺔ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬ ‫‪‬‬
‫‪ (١‬ﯾﻤﻜﻦ أﺳﺘﺨﺪام أي ﻣﻦ اﻟﻄﺮﯾﻘﺘﯿﻦ أذا ﻛﺎن اﻻﺳﺘﺜﻤﺎر ﻣﻦ ‪ % ١٠٠ – ٥٠‬ﻣﺎ دام أﻧﮫ ﺳﯿﺘﻢ أﻋﺪاد اﻟﻘﻮاﺋﻢ اﻟﻤﺎﻟﯿﮫ‬
‫اﻟﻤﻮﺣﺪه‬
‫‪ (٢‬ﯾﺠﺐ أﺳﺘﺨﺪاﻣﮭﺎ أذا ﻛﺎن ﺣﺠﻢ اﻻﺳﺘﺜﻤﺎر ﻣﻦ ‪ % ٥٠ – ٢٠‬ﺣﯿﺚ أﻧﮫ ﯾﻜﻮن أﺛﺮ أﯾﺠﺎﺑﻲ ﻛﺒﯿﺮ ﻋﻠﻰ اﻟﺸﺮﻛﮫ‬
‫اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ وﻻ ﯾﻄﻠﺐ أﻋﺪاد ﻗﻮاﺋﻢ ﻣﺎﻟﯿﮫ ﻣﻮﺣﺪه ‪.‬‬

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‫اﻟﻘﯿﻮد ﻓﻲ دﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ‬

‫) اﻟﻔﺮض أن اﻟﺸﺮﻛﮫ ‪ A‬أﺳﺘﺜﻤﺮت ﺑﻨﺴﺒﺔ ‪ A%‬ﻓﻲ اﻟﺸﺮﻛﮫ ‪( B‬‬

‫) أﺛﺒﺎت ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر‬ ‫‪ (١‬ﻗﯿﺪ رﺳﻤﻠﺔ اﻻﺳﺘﺜﻤﺎر ﻓﻲ دﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ ‪A‬‬

‫ﺑﻜﻠﻔﺘﮫ (‬
‫) ﻛﺎﻣﻞ ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر (‬ ‫ﻣﻦ ح‪ /‬اﻻﺳﺘﺜﻤﺎر ﻓﻲ ‪B‬‬
‫اﻟﻰ ﻣﺬﻛﻮرﯾﻦ‬
‫) اﻟﻤﺪﻓﻮع ﻧﻘﺪا ﺛﻤﻦ ﺷﺮاء وﻣﺼﺎرﯾﻒ ﻣﯿﺎﺷﺮه (‬ ‫ح‪ /‬اﻟﻨﻘﺪﯾﮫ‬
‫) اﻟﻘﯿﻤﮫ اﻻﺳﻤﯿﮫ ﻟﻼﺳﮭﻢ اﻟﻤﺼﺪره ﻣﻦ ‪ A‬ﻟﺸﺮاء ‪( B‬‬ ‫ح‪ /‬رأس اﻟﻤﺎل‬
‫ح‪ /‬رأس اﻟﻤﺎل اﻻﺿﺎﻓﻲ ) اﻟﻘﯿﻤﮫ اﻟﻤﺪﻓﻮﻋﮫ ﺑﺎﻟﺰﯾﺎده ﻋﻦ اﻟﻘﯿﻤﮫ اﻻﺳﻤﯿﮫ ﻟﻼﺳﮭﻢ اﻟﻤﺼﺪره (‬

‫أﺛﺒﺎت اﻻﺳﺘﺜﻤﺎر ﻓﻲ اﻟﺸﺮﻛﮫ ‪ B‬ﻓﻲ دﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ )ﺑﺎﻟﻜﻠﻔﮫ(‬

‫) ﻟﻠﻄﺮﯾﻘﺘﯿﻦ اﻟﻜﻠﻔﮫ وﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ (‬

‫) زﯾﺎدة ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر ﻓﻲ‬ ‫‪ (٢‬ﻗﯿﺪ اﻻرﺑﺎح اﻟﺘﻲ ﺗﺤﻘﻘﮭﺎ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪B‬‬
‫‪(B‬‬

‫) ﻧﺼﯿﺐ ‪ A‬ﻓﻲ أرﺑﺎح ‪ B‬ﺑﻌﺪ اﻟﻤﻌﺎﻟﺠﮫ (‬ ‫ﻣﻦ ح‪ /‬اﻻﺳﺘﺜﻤﺎر ﻓﻲ ‪B‬‬

‫اﻟﻰ ح‪ /‬ﺣﻖ اﻟﻘﺎﺑﻀﮫ ﻓﻲ اﻟﺘﺎﺑﻌﮫ ‪ /‬أﯾﺮاد اﻻﺳﺘﺜﻤﺎر‬
‫اﻟﻘﯿﻤﮫ = ‪ %A‬ﻓﻲ اﻻرﺑﺎح اﻟﺘﻲ ﺣﻘﻘﺘﮭﺎ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪ B‬ﺑﻌﺪ ﻣﻌﺎﻟﺠﺘﮭﺎ ﺑﺎطﻔﺎء اﻟﺸﮭﺮه وأﺧﺘﻼف اﻟﻘﯿﻢ‬
‫اﻟﺴﻮﻗﯿﮫ ﻟﻠﺒﻀﺎﻋﮫ وﻓﺮوﻗﺎت ﻗﯿﻢ اﻻﺻﻮل اﻟﺘﻲ ﯾﺘﺮﺗﺐ ﻋﻠﯿﮭﺎ أﺳﺘﮭﻼك ) ﻣﺼﺎرﯾﻒ ﻟﻠﻔﺘﺮه (‬
‫) ﻟﻄﺮﯾﻘﺔ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ ﻓﻘﻂ ﺣﯿﺚ أﻧﮫ ﺑﺄﺳﺘﺨﺪام طﺮﯾﻘﺔ اﻟﺘﻜﻠﻔﮫ ﻻ ﯾﺘﻢ ﺗﺴﺠﯿﻞ أﯾﺔ ﻗﯿﻮد (‬

‫) ﺗﺨﻔﯿﺾ ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر ﻓﻲ‬ ‫‪ (٣‬ﻗﯿﺪ اﻻرﺑﺎح اﻟﺘﻲ ﺗﻮزﻋﮭﺎ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪B‬‬
‫‪(B‬‬

‫ﻣﻦ ح‪ /‬ﺣﻖ اﻟﻘﺎﺑﻀﮫ ﻓﻲ اﻟﺘﺎﺑﻌﮫ ‪ /‬أﯾﺮاد اﻻﺳﺘﺜﻤﺎر‬

‫) أﺛﺒﺎت ﺣﻖ ‪ A‬ﻓﻲ ﺗﻮزﯾﻌﺎت أرﺑﺎح ‪( B‬‬ ‫اﻟﻰ ح‪ /‬اﻻﺳﺘﺜﻤﺎر ﻓﻲ ‪B‬‬
‫اﻟﻘﯿﻤﮫ = ‪ × %A‬ﺻﺎﻓﻲ أرﺑﺎح ‪ B‬اﻟﻤﻮزﻋﮫ‬
‫) ﻟﻄﺮﯾﻘﺔ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ ﻓﻘﻂ ﺣﯿﺚ أﻧﮫ ﺑﺄﺳﺘﺨﺪام طﺮﯾﻘﺔ اﻟﺘﻜﻠﻔﮫ ﯾﺘﻢ ﺗﺴﺠﯿﻞ ﻗﯿﺪ ﺑﺠﻌﻞ أﯾﺮاد اﻻﺳﺘﺜﻤﺎر داﺋﻨﺎ‬
‫واﻟﻤﺴﺘﺤﻘﺎت أو اﻟﺼﻨﺪوق ﻣﺪﯾﻦ (‬

‫أﺳﺘﻨﺘﺎﺟﺎت ﻟﻠﻘﯿﻮد اﻟﻤﺘﻌﻠﻘﮫ ﺑﺎﻻﺳﺘﺜﻤﺎر ﻓﻲ اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ‬

‫‪Equity Method‬‬ ‫ﺣﺴﺐ طﺮﯾﻘﺔ ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬

‫‪ A % +‬ﻣﻦ اﻟﻘﯿﻤﮫ اﻟﺪﻓﺘﺮﯾﮫ ﻟﺼﺎﻓﻲ أﺻﻮل اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ ‪B‬‬ ‫رﺻﯿﺪ ﺣﺴﺎب‬
‫‪ +‬رﺻﯿﺪ اﻟﺸﮭﺮه اﻟﻐﯿﺮ ﻣﻄﻔﺎء‬
‫اﻻﺳﺘﺜﻤﺎر ﻓﻲ‬
‫‪ +‬ﻓﺮوﻗﺎت اﻻﺻﻮل واﻟﺨﺼﻮم اﻟﺴﻮﻗﯿﮫ ﻋﻦ اﻟﺪﻓﺘﺮﯾﮫ ﺑﺘﺎرﯾﺦ ﺷﺮاء اﻻﺳﺘﺜﻤﺎر‬
‫اﻟﺘﺎﺑﻌﮫ‬
‫ﻣﻄﺮوﺣﺎ ﻣﻨﮫ ﻣﺎ ﺗﻢ أﺳﺘﮭﻼﻛﮫ ﻋﻦ ﻗﺮوﻗﺎت اﻻﺻﻮل ﺧﻼل ﻓﺘﺮة اﻟﺘﻤﻠﻚ‬

‫‪Page 10 of 14‬‬
 ‫‪Master Program‬‬ ‫‪Advanced Financial Accounting‬‬ ‫‪last update 4/22/2013‬‬

‫ھﯿﻜﻠﯿﺔ اﻟﻄﺮق اﻟﻤﺤﺎﺳﺒﯿﮫ ﻟﻤﻌﺎﻟﺠﺔ دﻣﺞ اﻻﻋﻤﺎل‬

‫اﻟﻤﺼﺎﻟﺢ اﻟﻤﺸﺘﺮﻛﮫ‬ ‫اﻟﺸﺮاء‬

‫ﺗﻘﻮم ﻋﻠﻰ أﺳﺎس ﺻﺎﻓﻲ ﻗﯿﻤﺔ اﻻﺻﻮل‬ ‫ﺗﻘﻮم ﻋﻠﻰ أﺳﺎس ﻗﯿﻤﺔ ﺻﺎﻓﻲ اﻻﺻﻮل‬
‫اﻟﺪﻓﺘﺮﯾﮫ‬ ‫اﻟﻌﺎدﻟﮫ ) اﻟﺴﻮﻗﯿﮫ ( ﻟﻠﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ‬
‫ﺗﻢ اﻟﻐﺎء اﻟﺘﻌﺎﻣﻞ ﺑﮭﺎ‬ ‫ﻓﯿﮭﺎ‬

‫اﻟﻜﻠﻔﮫ‬
‫ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﯾﺒﻘﻰ ﺛﺎﺑﺖ وﻻ ﯾﻌﻜﺲ‬
‫اﻟﺘﻐﯿﺮات ﻓﻲ اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ‬
‫ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر = ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر‬

‫ﻣﻔﮭﻮم اﻟﻮﺣﺪه اﻻﻗﺘﺼﺎدﯾﮫ‬ ‫ﺣﻘﻮق اﻟﻤﻠﻜﯿﮫ‬

‫‪Economic Unit Concept‬‬
‫ﻻ ﯾﺄﺧﺬ ﺑﻌﯿﻦ اﻻﻋﺘﺒﺎر ﻧﺴﺒﺔ أﺳﺘﺜﻤﺎر‬
‫اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ﻓﻲ اﻟﺘﺎﺑﻌﮫ ﻓﻲ أﻋﺎدة‬
‫اﻟﺘﻘﯿﯿﻢ واﻟﺸﮭﺮه‬
‫‪%١٠٠‬‬
‫وﻋﻠﯿﮫ ﻓﺄن ﺣﻘﻮق اﻻﻗﻠﯿﮫ = ﻧﺴﺒﺔ ﺗﻤﻠﻚ‬
‫اﻻﻗﻠﯿﮫ × ﺻﺎﻓﻲ اﻟﻘﯿﻤﮫ اﻟﻌﺎدﻟﮫ ﻟﻠﺸﺮﻛﮫ‬
‫اﻟﺘﺎﺑﻌﮫ‬
‫ﺣﺴﺎب اﻻﺳﺘﺜﻤﺎر ﯾﻌﻜﺲ اﻟﺘﻐﯿﺮات ﻓﻲ‬
‫اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ‬
‫ﻗﯿﻤﺔ اﻻﺳﺘﺜﻤﺎر = ﻧﺴﺒﺔ اﻻﺳﺘﺜﻤﺎر ×‬
‫ﺻﺎﻓﻲ اﻟﻘﯿﻤﮫ اﻟﻌﺎدﻟﮫ ﻻﺻﻮل اﻟﺸﺮﻛﮫ‬
‫اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ ) ﺣﺴﺐ اﻟﺘﻘﯿﯿﻢ ﺑﺘﺎرﯾﺦ اﻟﺸﺮاء‬
‫واﻟﺘﻌﺪﯾﻼت اﻟﺨﺎﺻﮫ ﺑﮭﺎ ﻟﻠﻔﺘﺮات اﻟﻼﺣﻘﮫ (‬

‫ﻣﻔﮭﻮم اﻟﺸﺮﻛﮫ اﻻم‬

‫‪Parent Company Concept‬‬
‫ﯾﺄﺧﺬ ﺑﻌﯿﻦ اﻻﻋﺘﺒﺎر ﻧﺴﺒﺔ أﺳﺘﺜﻤﺎر اﻟﺸﺮﻛﮫ اﻟﻘﺎﺑﻀﮫ ﻓﻲ اﻟﺘﺎﺑﻌﮫ ﻓﻲ أﻋﺎدة اﻟﺘﻘﯿﯿﻢ واﻟﺸﮭﺮه‬
‫‪%A‬‬
‫وﻋﻠﯿﮫ ﻓﺄن ﺣﻘﻮق اﻻﻗﻠﯿﮫ = ﻧﺴﺒﺔ ﺗﻤﻠﻚ اﻻﻗﻠﯿﮫ × ﺻﺎﻓﻲ اﻟﻘﯿﻤﮫ اﻟﺪﻓﺘﺮﯾﮫ ﻻﺻﻮل اﻟﺸﺮﻛﮫ اﻟﺘﺎﺑﻌﮫ‬

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‫ﺧﻄﻮات اﻟﻤﻌﺎﻟﺠﮫ اﻟﻤﺤﺎﺳﺒﯿﮫ ﻟﻼﺳﺘﺜﻤﺎر ﻓﻲ اﻟﺸﺮﻛﺎت اﻟﻤﺴﺎھﻤﮫ‬

‫ ﻓﻲ ﻓﺘﺮة اﻟﺸﺮاء‬.١
‫ ﺣﺼﺮ ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر‬.A
‫ ﺣﺼﺮ ﻗﯿﻤﺔ ﺻﺎﻓﻲ اﻻﺻﻮل اﻟﻌﺎدﻟﮫ ) اﻟﺴﻮﻗﯿﮫ ( ﻟﻠﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ‬.B
‫ أﺣﺘﺴﺎب ﻗﯿﻤﺔ اﻟﺸﮭﺮه‬.C
‫ ﺗﺤﺪﯾﺪ ﻗﯿﻢ اﻟﺘﻌﺪﯾﻼت ﻋﻠﻰ أﺻﻮل واﻟﺘﺰاﻣﺎت اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ واﻟﺘﻲ ﺳﺘﺘﻀﻤﻨﮭﺎ ﻗﺎﺋﻤﺔ‬.D
‫اﻟﻤﯿﺰاﻧﯿﮫ اﻟﻤﻮﺣﺪه أو اﻻرﺻﺪه اﻟﻤﺮﺣﻠﮫ ﻟﺪﻓﺎﺗﺮ اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮه ﻓﻲ ﺣﺎﻟﺔ اﻻﻧﺪﻣﺎج أو‬
‫اﻻﺗﺤﺎد‬

Example
A bought 80% of B and Paid cash ( 80000) JD
Item A (BV) B (BV) B (FV) Adjustments
Assets
Cash 100000 12000 12000 0
Receivable accounts 90000 7000 7000 0
Goods 130000 20000 22000 +2000
Equipments 280000 50000 59000 +9000
Patent 0 11000 10000 -1000

Liabilities
Current Liabilities 180000 22000 25000 +3000
Common stock 260000 40000
Retained earning 160000 38000
Investment cost 80000
Net B assets FV 85000 X 80% = (68000)
Goodwill 12000
Adjustments
Working ‫ورﻗﺔ اﻟﻌﻤﻞ‬
Paper
‫اﻟﺮﺻﯿــﺪ‬ ‫اﻟﺘﺴــــــــــــــﻮﯾﺎت‬ ‫اﻟﺘﺎﺑﻌﮫ‬ ‫اﻟﻘﺎﺑﻀﮫ‬
‫اﻟﻤﻮﺣـــــــــﺪ‬ Adjustments & Eliminations Subsidiary Parent ‫اﻟﺒﯿــــــــﺎن‬
Consolidation BV BV Account
Credit Debit
Balance
31000 12000 19000 Cash
97000 7000 90000 Receivable accounts
156600 1600 20000 130000 Goods
337200 7200 50000 280000 Equipments
10200 800 11000 0 Patent
12000 12000 Goodwill
726000
204400 2400 22000 180000 Current Liabilities
14000 14000 UCI

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Master Program Advanced Financial Accounting last update 4/22/2013

260000 40000 260000 Common stock

160000 30000 160000 Retained earning
‫ ﻓﻲ ﻓﺘﺮة اﻟﺸﺮاء‬.٢
‫ ﺣﺼﺮ ﻛﻠﻔﺔ اﻻﺳﺘﺜﻤﺎر‬.A
‫ ﺣﺼﺮ ﻗﯿﻤﺔ ﺻﺎﻓﻲ اﻻﺻﻮل اﻟﻌﺎدﻟﮫ ) اﻟﺴﻮﻗﯿﮫ ( ﻟﻠﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ‬.B
‫ أﺣﺘﺴﺎب ﻗﯿﻤﺔ اﻟﺸﮭﺮه‬.C
‫ ﺗﺤﺪﯾﺪ ﻗﯿﻢ اﻟﺘﻌﺪﯾﻼت ﻋﻠﻰ أﺻﻮل واﻟﺘﺰاﻣﺎت اﻟﺸﺮﻛﮫ اﻟﻤﺴﺘﺜﻤﺮ ﺑﮭﺎ‬.D

Account
Cash ‫اﻟﻨﻘﺪﯾﮫ‬
Costumers ‫ﻋﻤﻼء‬
Accounts receivable ‫ﻣﺪﯾﻨﻮن‬
Inventory ‫ﻣﺨﺰون ﺑﻀﺎﻋﮫ‬
Equipments ‫ﻣﻌﺪات‬
Tools ‫أدوات‬
Prepaid Expenses ‫ﻧﻔﻘﺎت ﻣﺪﻓﻮﻋﮫ ﻣﻘﺪم‬
Accrued expenses
Furniture & Fixtures ‫أﺛﺎث ودﯾﻜﻮرات‬
Land improvements ‫ﺗﺤﺴﯿﻨﺎت أراﺿﻲ‬
Accumulated depreciation ‫ﻣﺠﻤﻊ أﺳﺘﮭﻼك‬
Accounts payable ‫داﺋﻨﻮن‬
Suppliers ‫ﻣﻮردون‬
Sales ‫ﻣﺒﯿﻌﺎت‬
Purchases ‫ﻣﺸﺘﺮﯾﺎت‬
Salaries ‫رواﺗﺐ‬
Payroll taxes ‫ﺿﺮﯾﺒﺔ اﻟﺮواﺗﺐ‬
Insurance ‫ﺗﺄﻣﯿﻦ‬
Rent ‫أﯾﺠﺎرات‬
Utilities
Living expenses ‫ﻣﺼﺎرﯾﻒ ﻣﻌﯿﺸﯿﮫ‬
Accrued expenses ‫ﻣﺼﺎرﯾﻒ ﻣﺴﺘﺤﻘﮫ‬
Retained Earning ‫أرﺑﺎح ﻣﺤﺘﺠﺰه‬
Income
Net income
Wages Expenses
Income tax expense
Goods available for sale
Cost of goods sold
Property & equipment ‫ﻣﻤﺘﻠﻜﺎت وﻣﻌﺪات‬
Amortization
Income from continuing operation
Basic earning per share
Diluted earning per share
Deferred tax per share
Construction in progress
Gain
Operating expense
Selling expense
Administrative expense

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Affiliate
Creditors
Credit
Debit
Debt
Additional paid in capital
Property, Plant, and equipment, net
Common stock
Balance sheet
Income statement
Statement of retained earnings
Statement of cash flows
Assets
Liabilities
Preferred stock
Current
Long term
Intangible
Deferred charges
Paid in capital excess of par
Goodwill
Buildings
Investment
Patent
Adjustments & Eliminations

Income
Net Income

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