Flashcards in Contabilidade Deck (28)
O que é e quais as principais linhas do Income Statement?
É a apuração do resultado líquido através do confronto das receitas, custos e resultados, apuradas segundo o princípio contábil do regime de competência.
(-) Deduções: impostos incidentes sobre vendas (IPI/ICMS), devoluções e abatimentos
(=) Receita Líquida
(-) COGS, ou seja, CMV/CPV
(=) Resultado Operacional Bruto
(-) Despesas operacionais - vendas/adm
(+/-) Outras receitas e despesas
(-) Despesas financeiras líquidas
(=) Resultado antes do IR 15%+10% e do CSLL de 9% (contribuição social)
O que é e quais as principais linhas do Balance Sheet?
O balanço mostra os ativos de uma empresa (bens e direitos), os passivos (dívida e obrigações) e o patrimônio.
Caixa e equivalentes
Contas a receber
impostos a recuperar
Ativo imobilizado: terrenos, imóveis, equipamentos, veículos (bens físicos e tangíveis destinados a manutenção da atividade da empresa)
Intangível: Marca, patente, software, direito de propriedade
Investimentos: participações e aplicações financeiras de caráter permanente
Salário a pagar
Impostos a pagar
O que é e quais as principais linhas do Cash Flow?
Lucro Líquido -> ponto de partida
(+/-) working capital
(+) despesas financeiras
(+/-) resultado de equiv. patrimonial ??
(=) Fluxo de Caixa Liq das Operações
(+/-) Venda/Compra Imobilizado
(=) Fluxo de Caixa Liq dos Investimentos
(+/-) Captação/Amortização de empréstimos
(-) Pagamento de dividendo
(+) Aporte de capital
(=) Fluxo de Caixa Liq de Financiamento
Como as 3 demonstrações se relacionam?
O LL vai para o Equity e serve como ponto de partida para o Cash Flow.
Mudanças no balanço (WC) aparecem no Cash Flow, e as atividades de financiamento e de investimento afetam os itens do balanço.
E o saldo de caixa vai para o item "caixa".
Como uma depreciação de 10 reais afetaria cada demonstração?
DRE: Lucro operacional diminuiria em $10, e assumindo um IR de 35%, o lucro líquido diminuiria em $6,5.
Cash Flow: o LL do começo diminuiria em $6,5, porém como a depreciação não tem efeito-caixa, ela seria somada de volta em $10. Portanto, o fluxo de caixa aumentaria em $3,5.
Balanço: Imobilizado diminuiria em $10, e o caixa aumentaria em $3,5.
If Depreciation is a non-cash expense, why does it affect the cash balance?
Although Depreciation is a non-cash expense, it is tax-deductible. Since taxes are a cash expense, Depreciation affects cash by reducing the amount of taxes you pay.
O que é Working Capital? Se ele for negativo é um mal sinal?
WC= ACO - PCO
If it’s positive, it means a company can pay off its short-term liabilities with its shortterm assets.
Não necessariamente. ????
Qual a diferença de Regime de Caixa para Regime de Competência?
Em ingles tb
Regime de competência: uma despesa ocorre ou uma receita é realizada na data da situação que gerou o evento contábil (fator gerador), independentemente de pagamento;
Regime de caixa: uma despesa ocorre ou uma receita é realizada apenas na data do seu pagamento.
Cash-based accounting recognizes revenue and expenses when cash is actually received
or paid out; accrual accounting recognizes revenue when collection is reasonably certain
(i.e. after a customer has ordered the product) and recognizes expenses when they are
incurred rather than when they are paid out in cash.
Receita diferida é a receita que a empresa ainda não reconheceu na DRE, mas já recebeu o pagamento.
Deferred revenue is common with subscription-based products or services that require prepayments.
Examples of unearned revenue are rent payments received in advance, prepayment received for newspaper subscriptions, annual prepayment received for the use of software, and prepaid insurance.
Deferred revenue is a liability because it reflects revenue that has not been earned and represents products or services that are owed to a customer.
An example of an accrued expense is when a company purchases supplies from a vendor but has not yet received an invoice for the purchase. Other forms of accrued expenses include interest payments on loans, warranties on products or services received, and taxes; all of which have been incurred or obtained, but for which no invoices have been received nor payments made. Employee commissions, wages, and bonuses are accrued in the period they occur although the actual payment is made in the following period.
An accrued expense is only an estimate, and will likely differ from the supplier’s invoice that will arrive at a later date
Accrued expenses are the opposite of prepaid expenses. Prepaid expenses are payments made in advance for goods and services that are expected to be provided or used in the future. While accrued expenses represent liabilities, prepaid expenses are recognized as assets on the balance sheet.
Accrued expenses x Accounts Payable
Both accounts payables and accrued expenses are liabilities. Accounts payable is the total amount of short-term obligations or debt a company has to pay to its creditors for goods or services bought on credit. With accounts payables, the vendor's or supplier's invoices have been received and recorded.
On the other hand, accrued expenses are the total liability that is payable for goods and services that have been consumed by the company or received. However, accrued expenses are those bills in which an invoice or bill has not yet been received. As a result, accrued expenses can sometimes be an estimated amount of what's owed, which is adjusted later to the exact amount, once the invoice has been received.
What happens when Inventory goes up by $10, assuming you pay for it with cash?
- No changes to the Income Statement.
- On the Cash Flow Statement, Inventory is an asset so that decreases your Cash Flow from Operations – it goes down by $10, as does the Net Change in Cash at the bottom.
- On the Balance Sheet under Assets, Inventory is up by $10 but Cash is down by $10, so the changes cancel out and Assets still equals Liabilities & Shareholders’ Equity
In the case of Inventory, the expense is only recorded when the goods associated with it
are sold – so if it’s just sitting in a warehouse, it does not count as a Cost of Good Sold or
Operating Expense until the company manufactures it into a product and sells it.
Let’s say Apple is buying $100 worth of new iPod factories with debt. How are all 3 statements affected at the start of “Year 1,” before anything else happens?
- Income Statement: nothing
- On the Cash Flow Statement, the additional investment in factories would show up under Cash Flow from Investing as a net reduction in Cash Flow (so Cash Flow is down by $100 so far). And the additional $100 worth of debt raised would show up as an addition to Cash Flow, canceling out the investment activity. So the cash number stays
- On the Balance Sheet, there is now an additional $100 worth of factories in the Plants,
Property & Equipment line, so PP&E is up by $100 and Assets is therefore up by $100. On the other side, debt is up by $100 as well and so both sides balance.
Now let’s go out 1 year, to the start of Year 2. Assume the debt is high-yield so no principal is paid off, and assume an interest rate of 10%. Also assume the factories
depreciate at a rate of 10% per year. What happens?
After a year has passed, Apple must pay interest expense and must record the depreciation.
- Operating Income would decrease by $10 due to the 10% depreciation charge each year, and the $10 in additional Interest Expense would decrease the Pre-Tax Income by $20 altogether ($10 from the depreciation and $10 from Interest Expense).
Assuming a tax rate of 40%, Net Income would fall by $12.
- On the Cash Flow Statement, Net Income at the top is down by $12. Depreciation is a non-cash expense, so you add it back and the end result is that Cash Flow from Operations is down by $2.
- On the Balance Sheet, under Assets, Cash is down by $2 and PP'E is down by $10 due to the depreciation, so overall Assets are down by $12.
On the other side, since Net Income was down by $12, Shareholders’ Equity is also down by $12 and both sides balance.
What is a write down?
A write-down is an accounting term for the reduction in the book value of an asset when its fair market value (FMV) has fallen below the carrying book value, and thus becomes an impaired asset. The amount to be written down is the difference between the book value of the asset and the amount of cash that the business can obtain by disposing of it in the most optimal manner.
At the start of Year 3, the factories all break down and the value of the equipment is written down to $0. The loan must also be paid back now. Walk me through the 3 statements.
After 2 years, the value of the factories is now $80 if we go with the 10% depreciation per year assumption. It is this $80 that we will write down in the 3 statements.
- First, on the Income Statement, the $80 write-down shows up in the Pre-Tax Income line.
With a 40% tax rate, Net Income declines by $48.
- On the Cash Flow Statement, Net Income is down by $48 but the write-down is a noncash expense, so we add it back – and therefore Cash Flow from Operations increases by $32.
There are no changes under Cash Flow from Investing, but under Cash Flow from Financing there is a $100 charge for the loan payback – so the Net Change in Cash falls by $68.
- On the Balance Sheet, Cash is now down by $68 and PP&E is down by $80, so Assets have decreased by $148 altogether.
Now let’s say they sell the iPods for revenue of $20, at a cost of $10. Walk me
through the 3 statements under this scenario.
- Income Statement: Revenue is up by $20 and COGS is up by $10, so Gross Profit is up by $10 and Operating Income is up by $10 as well. Assuming a 40% tax rate, Net Income is up by $6.
- Cash Flow Statement: Net Income at the top is up by $6 and Inventory has decreased by $10 (since we just manufactured the inventory into real iPods), which is a net addition to cash flow – so Cash Flow from Operations is up by $16 overall. These are the only changes on the Cash Flow Statement, so Net Change in Cash is up by
- On the Balance Sheet, Cash is up by $16 and Inventory is down by $10, so Assets is up
by $6 overall. On the other side, Net Income was up by $6 so Shareholders’ Equity is up by $6 and
both sides balance.
Walk me through a $100 “bailout” of a company and how it affects the 3 statements.
First, confirm what type of “bailout” this is – Debt? Equity? A combination? The most common scenario here is an equity investment from the government, so here’s what happens:
- No changes to the Income Statement.
- On the Cash Flow Statement, Cash Flow from Financing goes up by $100 to reflect the government’s investment, so the Net Change in Cash is up by $100.
-On the Balance Sheet, Cash is up by $100 so Assets are up by $100; on the other side, Shareholders’ Equity would go up by $100 to make it balance.
Walk me through a $100 write-down of debt – as in OWED debt, a liability – on a company’s balance sheet and how it affects the 3 statements.
This is counter-intuitive. When a liability is written down you record it as a gain on the
Income Statement (with an asset write-down, it’s a loss) – so Pre-Tax Income goes up by $100 due to this write-down. Assuming a 40% tax rate, Net Income is up by $60.
On the Cash Flow Statement, Net Income is up by $60, but we need to subtract that debt
write-down – so Cash Flow from Operations is down by $40, and Net Change in Cash is
down by $40.
On the Balance Sheet, Cash is down by $40 so Assets are down by $40. On the other side,
Debt is down by $100 but Shareholders’ Equity is up by $60 because the Net Income was
up by $60 – so Liabilities & Shareholders’ Equity is down by $40 and it balances.
A company has had positive EBITDA for the past 10 years, but it recently went bankrupt. How could this happen?
1. The company is spending too much on Capital Expenditures – these are not
reflected at all in EBITDA, but it could still be cash-flow negative.
2. The company has high interest expense and is no longer able to afford its debt.
3. The company’s debt all matures on one date and it is unable to refinance it due to
a “credit crunch” – and it runs out of cash completely when paying back the debt.
4. It has significant one-time charges (from litigation, for example) and those are
high enough to bankrupt the company.
Remember, EBITDA excludes investment in (and depreciation of) long-term assets,
interest and one-time charges – and all of these could end up bankrupting the company.
Normally Goodwill remains constant on the Balance Sheet – why would it be impaired and what does Goodwill Impairment mean?
Usually this happens when a company has been acquired and the acquirer re-assesses its
intangible assets (such as customers, brand, and intellectual property) and finds that
they are worth significantly less than they originally thought.
It often happens in acquisitions where the buyer “overpaid” for the seller and can result
in a large net loss on the Income Statement (see: eBay/Skype).
It can also happen when a company discontinues part of its operations and must impair
the associated goodwill.
Technically Goodwill can increase if the company re-assesses its value and finds that it is
worth more, but that is rare.
O que é um depósito judicial?
Com o objetivo de garantir à parte vencedora o pagamento devido e a efetividade da decisão judicial, os juízes podem determinar que o valor discutido em um processo seja depositado em uma conta bancária antes mesmo da decisão final da ação. É o que se chama de depósito judicial.
What are deferred tax assets/liabilities and how do they arise?
Deferred Tax Liabilities arise when you have a tax expense on the Income Statement but haven’t actually paid that tax in cold, hard cash yet;
Deferred Tax Assets arise when you pay taxes in cash
but haven’t expensed them on the Income Statement yet.
Walk me through the major items in Shareholders’ Equity.
- capital social (common stock)
- reservas de lucros
- lucros acumulados (Retained Earnings)
- ações em tesouraria (treasury stock)
- APIC (Additional paid-in capital): the difference between the par value of a stock and the price that investors actually pay for it. This calculation only includes shares sold by the company to raise capital.
Ações em tesouraria
As ações em tesouraria são aquelas ações de emissão da companhia que são mantidas em tesouraria, sendo elas, ações autorizadas que nunca foram emitidas para o público ou ações recompradas do mercado.
Além disso, essas ações que estão em tesouraria não tem direito a voto e nem a dividendos. Ainda, essas ações podem ser emitidas para o público (pela primeira vez, ou então novamente no caso de recompradas), ou mesmo canceladas definitivamente.
Por que a empresa recompra ações e como isso afeta nas demonstrações?
- normalmente acontece qnd a empresa acredita que o preço das suas ações está muito abaixo do seu valor real
- aumenta percentual de participação dos investidores, bem como a cotação da ação e os dividendos futuros.
- sinaliza que está com um bom caixa
- pode visar a atender o programa de stock options da empresa
- pode impedir que um determinado player se torne o controlador da companhia
Sempre que a companhia faz uma recompra de ações, o caixa da empresa diminui e o patrimônio líquido também, na mesma quantidade.
Não há impacto na DRE.
O que seria o método de depreciação em linha reta? (Straight-line depreciation)
A depreciação encontrada resulta em despesa constante durante a vida útil do ativo, exceto quando seu valor residual se altera. Assim, a depreciação está relacionada exclusivamente ao tempo, e não ao uso do ativo em questão.
Neste método divide-se o custo de aquisição, deduzido do valor residual, pelo número de períodos correspondente à sua vida útil.