西方会计英语Unit four Tax accounti

[00:03.06]Text 4.1  Methods of depreciati
[00:07.34]By definition, fixed¹ assets are those which will provide services over a number of years and the matching convention tells us that we should recognise the expense in the same periode as we recognise the associated revenu
[00:20.27]Thus we must not write off ,or expense ,the whole cost of the asset in the period in which the asset is acquire
[00:27.35]but should instead convert the asset into an expense over its lif
[00:30.98]This gradual conversion² is known as depreciatio
[00:34.74]How should we compute³ the depreciation⁴ charge for each yea
[00:38.01]An obvious way would be to compare the current value of an asset at the end of the year with its value at the start of the year and say that the difference is depreciatio
[00:46.60]But as we have already emphasized, traditional accounting⁵ practice is based on historic cost and not current value
[00:53.39]consequently that method is generally not acceptabl
[00:56.61]The traditional approach is to estimate the total expenditure⁶ to be written off.i.e.the cost of the asset less its estimated scrap⁷ value
[01:05.31]and then to write off that expenditure over the estimated lifef of the asset by using one of the methods that we shall describ
[01:12.39]It would be helpful to look at a simple exampl
[01:14.84]If a firm purchased a machine on 1 January 199X for $22,000,which is expected to last for four years and then be sold for $ 2,00
[01:26.00]The life of the asset is usually measured in time, but in some instances may be measuerd on the basis of actual usag
[01:33.02]Depreciation on the basis of 'actual usage'is rar
[01:37.04]In order to consider the difficulties inherent in estimating the life of an asset we should think about the reasons why most fixed assets,other than land,have a limited lif
[01:47.02]These reasons may be classified as physical wear and tear,and obsolescence⁸.
[01:52.07]Obsolescence may be of the asset itself, e.g.a new machine may make the use of the original asset,an older machine
[01:58.91]uneconomic because the new machine is faster or requires less labour
[02:03.17]Obsolescence may also be caused by the object produced by the asset,if,for example,it goes out of fashion.
[02:10.19]In the latter case,the degree of obsolescence will depend on the specific nature of the asset;
[02:15.47]some assets may be easily adapted to alternative uses while others may have only one use,the original.
[02:22.37]None of the above variables can be determined⁹ with any accuracy, obsolescence, in particular, is rapidly increasing in importance because of rapid changes in technolog
[02:31.75]Deciding how much should be written off and over what period is not the only problem, for there are a number of depreciation methods from which to choos
[02:40.73]A firm's management must decide which one to emply , and a user of financial statements who wishes to compare the financial performance of a number of companies must appreciate the effects of the various method
[02:52.83]In practice we find two main methods of depreciation-the straight-line basis and accelerated depreciatio
[03:00.82]There is another method ,tha annuity¹⁰ method which takes account of the interest costs involved in investing in a long-lived asse
[03:07.79]this method has many theoretical attractions but is rarely use
[03:12.29]Heading
[03:13.57]The total expected cost is simply spread over the number of years of expected service giving the amount of depreciation expense per annu
[03:21.98]Heading 2  With these methods the depreciation charge in the earlier years of use is greater than in the last year
[03:29.76]Accelerated methods include(a) the Sum of the Year's Digits¹¹ Method and (b) the Reducing Balance Metho
[03:38.41]Heading
[03:39.72]Let n be the asset's life ,the years are each represented by a digit:1.2.3.4...
[03:49.43]Having fixed on n, the digits are summed and the fractions of the asset cost are charged to the years in reverse order so that the earlier years are charged more than the later year
[04:01.24]Heading
[04:02.99]Here the depreciation charge for each year is a fixed percentage of the net.amount'of the asset(cost less accmulated depreciation to date) at the start of the yee
[04:14.01]Text 4.2
[04:16.31]An important tax bill pending¹² in the US Congress would permit depreciation of intangibles,including goodwill¹⁴ ,for tax purpose
[04:25.90]This would appear to eliminate a major US tax barrier against takeover
[04:31.15]Just a short time ago, Congress had been carefully scrutinising possible tax incentives¹⁶ for acquisitions, such as deductions¹⁹ for interest expense ,with an eye towards removing the
[04:42.38]Now it is considering a proposal that appears to increase the tax attractiveness of acquisitions,especially those in which large premiums²⁰ are pai
[04:51.94]In July last year, Congressman²¹ Dan Rosteknowski, introduced a bill,HR 3035 entitled 'Amortisation of Goodwill and Certain other Intangibles
[05:05.03]The bill would provide a uniform 14 year amortisation period for goodwill and other intangible
[05:12.56]The inability to deduct¹⁷ or amortise amounts paid for goodwill has long been one of the main constraints²² in tax planning of acquistions in the U
[05:23.00]While businessmen recognise that goodwill may be an important business asset, they also recognise that its value may be fleetin
[05:31.89]During the 1980s ,the large premiums paid in acquisitions often resulted in prices that greatly exceeded the value of tangible¹³ asset
[05:41.66]further increasing the significance of the non-deductibility of goodwil
[05:46.64]By allowing amortisation of goodwill ,HR 3035 would appear to increase the attractiveness of acquistion
[05:55.53]A closer examinaion of the proposal, however, reveals that the motive²³ behind it is not to provide a tax incentive¹⁵ for acquisition
[06:03.73]During the 1980s, as the premiums paid in acquisitions increased so did the incentives for creativity by tax adviser²⁴
[06:13.13]Acquirers did not accept fatalistically that the large premiums they paid had to be additional goodwil
[06:20.53]Instead ,the assets of targets were closely scrutinised to ensure that no possible depreciable or amortisable asset was overlooked
[06:30.27]Along with patents ,licences, favourable²⁵ contracts, the deductible assets uncovered included such items a
[06:38.81]workforce in place (experience and composition of existing workforc
[06:44.74]information base (business records, operating systems, et
[06:49.68]customer-based intangibles (market share and compositio
[06:54.75]and supplier-based intangibles (any expected special value in the future from the acquisition of goods and service
[07:03.31]In many instances, the result was that the amount of the purchase price remaining to be allocated²⁶ to goodwill was quite smal
[07:11.67]However, the Internal Revenue Service challenged many of these claimed deduction¹⁸
[07:17.84]Disputes between the Internal Revenue Service and taxpayers²⁷ involving very large sums of money ensued over whether these intangibles existed,
[07:28.00]the appropriated period for their amortisation, and the portion of the total purchase price that could be allocated to the
[07:36.44]These problems are the driving force behind the proposed legislatio
[07:40.59]The uniform amortisation period for intangibles is intended to eliminate disputes over the existence, value and life of intangible asset
[07:50.02]The bill is designed to be neutral with regard to tax revenue although savings²⁸ are anticipated from the reduction in complex dispute
[07:59.14]Hence, the amortisation of goodwill is expected to be financed by increasing the amortisation period for some intangible asset
[08:07.60]For example, acquired computer software would be amortised over 14 years rather than the current five years and covenants²⁹ not to compete would be amortised over 14 years rather than their likely much shorter live
[08:23.46]Generally, the benefits(or detriments) of this new legislation would depend on whether an acquirer bought assets rather than stoc
[08:32.63]Business considerations may limit an acquirer's ability to choos
[08:36.94]For example ,an acquirer may strongly prefer to buy assets because of concerns about large, difficult-to-measure liabilities of the business being acquire
[08:47.60]On the other hand, an acquirer who must make a hostile tender offer can only buy stoc
[08:53.73]A purchase of stock would not automatically permit an amortisation of the acquired corporation's goodwill since the goodwill itself would not have been purchase
[09:03.71]An acquirer could elect to treat a purchase of stock as a constructive³⁰ purchase of assets for tax purpose and thereby³¹ come within the scope of this new provisio
[09:15.18]However, generally,this would not ahcieve the best tax result for an acquirer because of the immediate³² taxable gain on the difference between the purchase price and the tax basis of the asset
[09:26.86]In any contemplated acquistion, the effects of the proposed legislation should be reviewed in detail

1 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

2 conversion   

n.转化，转换，转变

参考例句：

• He underwent quite a conversion.他彻底变了。
• Waste conversion is a part of the production process.废物处理是生产过程的一个组成部分。

3 compute   

v./n.计算，估计

参考例句：

• I compute my losses at 500 dollars.我估计我的损失有五百元。
• The losses caused by the floods were beyond compute.洪水造成的损失难以估量。

4 depreciation   

n.价值低落，贬值，蔑视，贬低

参考例句：

• She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
• They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。

5 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

6 expenditure   

n.(时间、劳力、金钱等)支出；使用，消耗

参考例句：

• The entry of all expenditure is necessary.有必要把一切开支入账。
• The monthly expenditure of our family is four hundred dollars altogether.我们一家的开销每月共计四百元。

7 scrap   

n.碎片；废料；v.废弃，报废

参考例句：

• A man comes round regularly collecting scrap.有个男人定时来收废品。
• Sell that car for scrap.把那辆汽车当残品卖了吧。

8 obsolescence   

n.过时，陈旧，废弃

参考例句：

• For some small unproductive mills,the reality is not merger but obsolescence and bankruptcy.对一些效率低下的小厂而言，现实不是合并，而是可能被淘汰和破产。
• Finally,the cost approach can provide a basis for allocating penalties,specifically economic obsolescence.最后，成本法可作为一个分配因陈旧特别是因经济

9 determined   

adj.坚定的；有决心的

参考例句：

• I have determined on going to Tibet after graduation.我已决定毕业后去西藏。
• He determined to view the rooms behind the office.他决定查看一下办公室后面的房间。

10 annuity   

n.年金；养老金

参考例句：

• The personal contribution ratio is voluntary in the annuity program.企业年金中个人缴费比例是自愿的。
• He lives on his annuity after retirement.他退休后靠退休金维生。

11 digits   

n.数字( digit的名词复数 )；手指，足趾

参考例句：

• The number 1000 contains four digits. 1000是四位数。 来自《简明英汉词典》
• The number 410 contains three digits. 数字 410 中包括三个数目字。 来自《现代英汉综合大词典》

12 pending   

prep.直到，等待…期间；adj.待定的；迫近的

参考例句：

• The lawsuit is still pending in the state court.这案子仍在州法庭等待定夺。
• He knew my examination was pending.他知道我就要考试了。

13 tangible   

adj.有形的，可触摸的，确凿的，实际的

参考例句：

• The policy has not yet brought any tangible benefits.这项政策还没有带来任何实质性的好处。
• There is no tangible proof.没有确凿的证据。

14 goodwill   

n.善意，亲善，信誉，声誉

参考例句：

• His heart is full of goodwill to all men.他心里对所有人都充满着爱心。
• We paid ￡10,000 for the shop,and ￡2000 for its goodwill.我们用一万英镑买下了这家商店，两千英镑买下了它的信誉。

15 incentive   

n.刺激；动力；鼓励；诱因；动机

参考例句：

• Money is still a major incentive in most occupations.在许多职业中，钱仍是主要的鼓励因素。
• He hasn't much incentive to work hard.他没有努力工作的动机。

16 incentives   

激励某人做某事的事物( incentive的名词复数 )； 刺激； 诱因； 动机

参考例句：

• tax incentives to encourage savings 鼓励储蓄的税收措施
• Furthermore, subsidies provide incentives only for investments in equipment. 更有甚者，提供津贴仅是为鼓励增添设备的投资。 来自英汉非文学 - 环境法 - 环境法

17 deduct   

vt.扣除，减去

参考例句：

• You can deduct the twenty - five cents out of my allowance.你可在我的零用钱里扣去二角五分钱。
• On condition of your signing this contract,I will deduct a percentage.如果你在这份合同上签字，我就会给你减免一个百分比。

18 deduction   

n.减除，扣除，减除额；推论，推理，演绎

参考例句：

• No deduction in pay is made for absence due to illness.因病请假不扣工资。
• His deduction led him to the correct conclusion.他的推断使他得出正确的结论。

19 deductions   

扣除( deduction的名词复数 )； 结论； 扣除的量； 推演

参考例句：

• Many of the older officers trusted agents sightings more than cryptanalysts'deductions. 许多年纪比较大的军官往往相信特务的发现，而不怎么相信密码分析员的推断。
• You know how you rush at things,jump to conclusions without proper deductions. 你知道你处理问题是多么仓促，毫无合适的演绎就仓促下结论。

20 premiums   

n.费用( premium的名词复数 )；保险费；额外费用；（商品定价、贷款利息等以外的）加价

参考例句：

• He paid premiums on his life insurance last year. 他去年付了人寿保险费。 来自《现代英汉综合大词典》
• Moves are afoot to increase car insurance premiums. 现正在酝酿提高汽车的保险费。 来自《简明英汉词典》

21 Congressman   

n.（美）国会议员

参考例句：

• He related several anecdotes about his first years as a congressman.他讲述自己初任议员那几年的几则轶事。
• The congressman is meditating a reply to his critics.这位国会议员正在考虑给他的批评者一个答复。

22 constraints   

强制( constraint的名词复数 )； 限制； 约束

参考例句：

• Data and constraints can easily be changed to test theories. 信息库中的数据和限制条件可以轻易地改变以检验假设。 来自英汉非文学 - 科学史
• What are the constraints that each of these imply for any design? 这每种产品的要求和约束对于设计意味着什么？ 来自About Face 3交互设计精髓

23 motive   

n.动机，目的；adv.发动的，运动的

参考例句：

• The police could not find a motive for the murder.警察不能找到谋杀的动机。
• He had some motive in telling this fable.他讲这寓言故事是有用意的。

24 adviser   

n.劝告者，顾问

参考例句：

• They employed me as an adviser.他们聘请我当顾问。
• Our department has engaged a foreign teacher as phonetic adviser.我们系已经聘请了一位外籍老师作为语音顾问。

25 favourable   

adj.赞成的，称赞的，有利的，良好的，顺利的

参考例句：

• The company will lend you money on very favourable terms.这家公司将以非常优惠的条件借钱给你。
• We found that most people are favourable to the idea.我们发现大多数人同意这个意见。

26 allocated   

adj. 分配的 动词allocate的过去式和过去分词

参考例句：

• The Ford Foundation allocated millions of dollars for cancer research. 福特基金会拨款数百万美元用于癌症研究。
• More funds will now be allocated to charitable organizations. 现在会拨更多的资金给慈善组织。

27 taxpayers   

纳税人，纳税的机构( taxpayer的名词复数 )

参考例句：

• Finance for education comes from taxpayers. 教育经费来自纳税人。
• She was declaiming against the waste of the taxpayers' money. 她慷慨陈词猛烈抨击对纳税人金钱的浪费。

28 savings   

n.存款，储蓄

参考例句：

• I can't afford the vacation,for it would eat up my savings.我度不起假，那样会把我的积蓄用光的。
• By this time he had used up all his savings.到这时，他的存款已全部用完。

29 covenants   

n.（有法律约束的）协议( covenant的名词复数 )；盟约；公约；（向慈善事业、信托基金会等定期捐款的）契约书

参考例句：

• Do I need to review the Deed of mutual Covenants (DMC)? 我是否需要覆核公共契约(DMC)吗？ 来自互联网
• Many listed and unlisted companies need to sell to address covenants. 许多上市公司和非上市公司需要出售手中资产，以满足借贷契约的要求。 来自互联网

30 constructive   

adj.建设的，建设性的

参考例句：

• We welcome constructive criticism.我们乐意接受有建设性的批评。
• He is beginning to deal with his anger in a constructive way.他开始用建设性的方法处理自己的怒气。

31 thereby   

adv.因此，从而

参考例句：

• I have never been to that city,,ereby I don't know much about it.我从未去过那座城市，因此对它不怎么熟悉。
• He became a British citizen,thereby gaining the right to vote.他成了英国公民，因而得到了投票权。

32 immediate   

adj.立即的；直接的，最接近的；紧靠的

参考例句：

• His immediate neighbours felt it their duty to call.他的近邻认为他们有责任去拜访。
• We declared ourselves for the immediate convocation of the meeting.我们主张立即召开这个会议。