国际会计Operating Cycle of a Merchandising BusinessPPT.ppt

On May 12, Barbee, Inc. purchased $8,000 of Merchandise for cash and also paid $100 transportation costs. * exercise 1. In credit term of 2/10, n/60, the credit period is( ) days, the discount period is( )days. 2.True or false A)Purchase returns and purchase allowance will increase the amount that the buyer must pay the seller. B) For FOB destination, the seller pays for transportation and have the ownership of the goods in transit. * 本讲结束 谢谢 * Chapter 4: Reporting and Analyzing Merchandising Activities * Dr. Fred Barbee * Chapter 4: Reporting and Analyzing Merchandising Activities * Dr. Fred Barbee * Chapter 4: Reporting and Analyzing Merchandising Activities * Dr. Fred Barbee * Chapter 4: Reporting and Analyzing Merchandising Activities * Dr. Fred Barbee * Chapter 4: Reporting and Analyzing Merchandising Activities * Dr. Fred Barbee * Chapter 4: Reporting and Analyzing Merchandising Activities * Dr. Fred Barbee * Chapter 4: Reporting and Analyzing Merchandising Activities * Dr. Fred Barbee * SUN HX Accounting English Lesson4 * 24 24 SUN HX Accounting English Lesson4 * 24 24 SUN HX Accounting English Lesson4 * 24 24 SUN HX Accounting English Lesson4 * 24 24 SUN HX Accounting English Lesson4 * 24 24 Operating Cycle of a Merchandising Business * Cash Inventory Cash Inventory Accounts Receivable Purchase and Cash Sale Purchase and Sale on Account 营业周期 Two ratios * A common rule of thumb is the acid-test ratio should have a value of at least 1.0 to conclude a company is unlikely to face liquidity problems in the near future. = Quick Assets Current Liabilities Acid-Test Ratio Acid-Test Ratio = Cash + S-T Investments + Receivables Current Liabilities Gross margin ratio=gross margin/net sales Periodic and perpetual inventory system Periodic inventory system: 定期盘存制 Physically count inventory, usually at end of accounting period. No detailed records of the actual inventory are maintained during the accounting period. Less costly than perpetual