Part 1 Section A.2.4.2 Long-term Contracts 長期契約

Long term contract　長期契約
1. 種類
2. The criteria of Over time (the cost-to-cost method)
仕訳
1. Point-in -Time Recognition
2. Over-time Recognition
計算問題
1. 複数プロジェクトを並べた出題
2. 複数期間を並べた出題

Long term contract　長期契約

種類

Over time
- Percentage-of-completion method: 工事進行基準
- (SAC606 では、over time と定義)
Point in time
- Complete-contract method: 工事完成基準
- (SAC606 では、point in time と定義)

The criteria of Over time (the cost-to-cost method)

Under ASC 606-10-25-27, a company satisfies a performance obligation over time and recognizes the revenue and costs over time if at least one of the following three criteria is met:
(1)The customer simultaneously receives and consumes the benefits provided by the company’s performance as the company is performing its obligations under the contract.
(2)The company’s performance creates or enhances an asset such as work in process that the customer controls as the work is being done.
(3)The company’s performance does not create an asset with an alternative use to the company, and the company has an enforceable right to payment for performance completed to date.

仕訳

Point-in -Time Recognition

①費用計上

Debit		Credit
Construction in process (CIP)	原価	Cash	原価

②請求

Debit		Credit
Accounts receivable (A/R)	契約に基づく請求額	Billings on construction in process (BCP)	契約に基づく請求額

③損失計上

Debit		Credit
Loss on long-term contract	損失額	Construction in process (CIP)	損失額

④プロジェクト完了

Debit		Credit
Billings on construction in process (BCP)	総請求額	Revenue on point-in-time contracts	総請求額
Construction expense	総原価	Construction in process (CIP)	総原価

⑤決算期のB/S

CIP と BCP は、ネットしたうえで、プロジェクト毎に差額を計算する
- If CIP > BCP
  - contract asset: costs of in-process point-in-time contracts in excess of related costs
- If CIP < BCP
  - contract liability: billings of in-process point-in-time contracts in excess of related costs
プロジェクト毎に、contract asset か contract liability を集計する

	CIP	BCP	contract asset	contract liability
Project A	100	300	–	200
Project B	200	100	100	–
Project C	200	250	–	50
Company’s B/S	–	–	100	250

Over-time Recognition

⑥収益認識（途中年度）

Debit		Credit
Cost incurred	原価	Revenue on point-in-time contracts	進捗額
Construction in process (CIP)	粗利額	Revenue on point-in-time contracts	進捗額

⑦プロジェクト完了

Debit		Credit
Billings on construction in process (BCP)	総請求額	Construction in process (CIP)	総進捗額

計算問題

複数プロジェクトを並べた出題

a/c	PJT-1	PJT-2
Contract price	420,000	300,000
Cost incurred during 2020	240,000	280,000
Estimated costs to complete	120,000	40,000
Billed to customers during 2020	150,000	270,000
Received from customers during 2020	90,000	250,000

問１）point-in-time の場合、2020年の損益
　　PJT-1：未完了→ゼロ
　　PJT-2：損失発生→ -20,000（∵損失は完了を待たずして認識すべきだから）

問２）point-in-time の場合、2020年の contract asset と contract liability
　　PJT-1：
　　　CIP：240,000（発生原価）
　　　BCP：150,000（請求額）
　　　→　CIP > BVP より、contract asset = 90,000
　　PJT-2：
　　　CIP：280,000（発生原価）- 20,000（損失）＝ 260,000
　　　BCP：270,000（請求額）
　　　→　CIP < BCP より、contract liability = 10,000

問３）over-time の場合、2020年の損益
　　PJT-1：
　　　①期待利益＝ 420,000 – (240,000 + 120,000) = 60,000
　　　②進捗率 = 240,000 ÷ (240,000 + 120,000) = .666666
　　　③年度利益 = 60,000 × 0.66666 = 40,000
　　PJT-2：
　　　①期待利益 = 300,000 – (280,000 + 40,000) = -20,000
　　　②損失の場合は進捗率は常に100%
　　　③年度利益 = -20,000

問４）over-time の場合、2020年の CIP
　　PJT1：CIP＝発生原価＋損益＝240,000＋40,000＝280,000
　　PJT2：CIP＝発生原価＋損益＝280,000＋(-2,000)=260,000

複数期間を並べた出題

①コストがプロジェクト期間中に合計予測値として与えられている

	Year 0	Year 1	Year 2	Year 3	Year 4
Contract price	1,500,000
Estimated total cost		1,200,000	1,300,000	1,550,000	1,550,000
Cost incurred		400,000	200,000	750,000	200,000
Billings		375,000	375,000	375,000	375,000
Collections		350,000	300,000	500,000	200,000

* Year 3 の進捗率の計算は、(400,000 + 200,000 + 750,000) ÷ 1,550,000 = 0.8709

②コストがプロジェクト期間中に累計実績値として与えられている

	Year 0	Year 1	Year 2	Year 3	Year 4
Contract price	1,500,000
Actual costs Incurred to date		400,000	600,000	1,350,000	1,550,000
Estimated cost to complete		800,000	700,000	200,000	0
Billings during the year		375,000	375,000	375,000	375,000
Collections during the year		350,000	300,000	500,000	200,000

* Year 3 の進捗率の計算は、1,350,000 ÷ (1,350,000 + 200,000) = 0.8709

③コストがプロジェクト期間中に年度ごとに与えらえている

	Year 0	Year 1	Year 2	Year 3	Year 4
Contract price	1,500,000
Costs Incurred during the year		400,000	200,000	750,000	200,000
Estimated cost to complete		800,000	700,000	200,000	0
Billings during the year		375,000	375,000	375,000	375,000
Collections during the year		350,000	300,000	380,000	420,000

* Year 3 の進捗率の計算は、(400,000 + 200,000 + 750,000) ÷ (400,000 + 200,000 + 750,000 + 200,000) = 0.8709

⑦単期間の損益 (over-time)

	Year 0	Year 1	Year 2	Year 3	Year 4
Contract price	1,500,000
Actual costs Incurred to date		400,000	600,000	1,350,000	1,550,000
Estimated cost to complete		800,000	700,000	200,000	0
Billings during the year		375,000	375,000	375,000	375,000
Collections during the year		350,000	300,000	500,000	200,000

* Year 1 の損益は、
① estimated profit = 1,500,000 – (400,000 + 800,000) = 300,000
② 進捗率 = 400,000 ÷ (400,000 + 800,000) = 0.3333
③ 損益 = 300,000 × 0.3333 = 100,000

⑧プロジェクト期間中の特定年度の損益 (over-time)

	Year 0	Year 1	Year 2	Year 3	Year 4
Contract price	1,500,000
Actual costs Incurred to date		400,000	600,000	1,350,000	1,550,000
Estimated cost to complete		800,000	700,000	200,000	0
Billings during the year		375,000	375,000	375,000	375,000
Collections during the year		350,000	300,000	500,000	200,000

* Year 2 の損益は、
① estimated profit = 1,500,000 – (600,000 + 700,000) = 200,000
② 進捗率 = 600,000 ÷ (600,000 + 700,000) = 0.4615
③ 損益_TY2 = 200,000 × 0.4615 = 92,308
④ 損益_PY2 = 損益_TY2 – 損益_TY1 = 92,308 – 100,000 = -7,692

⑨プロジェクト期間中の特定年度の損益 (point-in-time)

	Year 0	Year 1	Year 2	Year 3	Year 4
Contract price	1,500,000
Actual costs Incurred to date		400,000	600,000	1,350,000	1,550,000
Estimated cost to complete		800,000	700,000	200,000	0
Billings during the year		375,000	375,000	375,000	375,000
Collections during the year		350,000	300,000	500,000	200,000

* Year 2 の損益 = 0
* Year 3 の損益 = -50,000

⑩プロジェクト期間中の特定年度までの通算損益 (over-time)

	Year 0	Year 1	Year 2	Year 3	Year 4
Contract price	1,500,000
Actual costs Incurred to date		400,000	600,000	1,350,000	1,550,000
Estimated cost to complete		800,000	700,000	200,000	0
Billings during the year		375,000	375,000	375,000	375,000
Collections during the year		350,000	300,000	500,000	200,000

* Year 2 までの通算損益(through profit)は、
① estimated profit = 1,500,000 – (600,000 + 700,000) = 200,000
② 進捗率 = 600,000 ÷ (600,000 + 700,000) = 0.4615
③ 損益_TY2 = 200,000 × 0.4615 = 92,308

CMA Exam Survival Part 1- Financial Planning, Performance, and Analytics (English Edition)