the contract of service provision, revenues are recognized according to the progress standards. A progress ratio is calculated by the percentage of real-accumulated-accrual costs to the total expected costs.
2. Allowance for Doubtful Debts
KAL sets up the allowance for bad debts to its receivables by estimating the probability of future bad debts at the time of the closing the journal entry.
Accruals 7.9% 7.6% 7.9% 7.4%
Air traffic liability 13.9% 0.0% 13.0% 0.0%
Current maturities of
long-term debt 3.2% 11.7% 4.3% 10.3%
Current obligations under
capital leases 0.5% 0.0% 0.4% 0.0%
Total Current Liabilities 29.7% 24.1% 29.2% 22.0%
Long-Term Debt 32.9% 26.4% 38.5% 23.5%
Obligations under capital leases 2.4% 14.6% 2.8% 15.8%
Other liabilities and credits 25.7% 5.9% 31.6% 6.5%
total cash and cash equivalents of the company 434,177,269 thousand won. The cash flow statement is derived from the income statement and the balance sheet. Net earnings from the income statement is the figure from which the information on the CFS is deduced. As for the balance sheet, the net cash flow in the CFS from one year to the next should equal the increase or decrease of cash between the
Financial Accounting
IFRS 4th Edition
Chapter 3
Adjusting the Accounts
Weygandt ●Kimmel ●Kieso
Accrual-Basis Accounting 발생주의회계
and Adjusting Entries 수정분개
5Copyright 2019 John Wiley & Son, Inc.
Time period (or periodicity) assumption
기간별보고의가정:
Accountants divide the economic life of a business into artificial
time periods.
LO 1
Accrual-versus Cash-Basis Acc
Financial Accounting
IFRS 4th Edition
Chapter 3
Adjusting the Accounts
Weygandt ●Kimmel ●Kieso
Accrual-Basis Accounting 발생주의회계
and Adjusting Entries 수정분개
5Copyright 2019 John Wiley & Son, Inc.
Time period (or periodicity) assumption
기간별보고의가정:
Accountants divide the economic life of a business into artificial
time periods.
LO 1
Accrual-versus Cash-Basis Acc