财务会计英语.ppt
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财务会计英语ch1.ppt
legal entity.
J & M, Inc.
Advantages • The ability to obtain large
amounts of resources by issuing stocks • Limited liability for the owners
Disadvantages
Limitation on Life of Entity
Proprietorship Yes
Corporation No
Partnership
Yes
LLC
Yes
Comparison of Alternate Entity Characteristics
Ease of Raising Capital
Taxation
Proprietorship Corporation Partnership LLC
Nontaxable entity Taxable entity Nontaxable entity Nontaxable entity by election
Comparison of Alternate Entity Characteristics
Withdrawals by the owner are recorded in the owner’s drawing account.
Equity Reporting for Alternative Entity Forms
Proprietorships
Greene Landscapes
Statement of Owner’s Equity
LLC provides limited liability for the members. LLCs must file “articles of organization” with
J & M, Inc.
Advantages • The ability to obtain large
amounts of resources by issuing stocks • Limited liability for the owners
Disadvantages
Limitation on Life of Entity
Proprietorship Yes
Corporation No
Partnership
Yes
LLC
Yes
Comparison of Alternate Entity Characteristics
Ease of Raising Capital
Taxation
Proprietorship Corporation Partnership LLC
Nontaxable entity Taxable entity Nontaxable entity Nontaxable entity by election
Comparison of Alternate Entity Characteristics
Withdrawals by the owner are recorded in the owner’s drawing account.
Equity Reporting for Alternative Entity Forms
Proprietorships
Greene Landscapes
Statement of Owner’s Equity
LLC provides limited liability for the members. LLCs must file “articles of organization” with
(推荐)《财务会计英语》PPT课件
A long position involves inflows greater than outflows in a currency and a short position involved outflows greater than inflows. 多头是一种货币的流入大于流出，而空头指一种货币的流出大于 流入。
Finance Vocabulary——常用金融词汇
A.T.M.
AutomatedTellerMachi ne; cashdispenser
Banknote
Piece of paper money
Legal tender
Loan Donate
Currency that cannot legally be refused as payment
Money paid for borrowing or investing money
Written order to a bank to pay the stated amount from one's account
Sum of money to be returned with interest
5
If you go short and the futures price goes up, you lose money. 如果你卖空而期货价格上升，你就赔钱。
Futures is one of the types of financial futures. 外汇期货是金融期货的一种。
The futures price is not constant until the contract expires. 直到其期货合约到期之前，期货价格才稳定。
Futures markets provide a current consensus of knowledgeable opinions about the future price of commodities or financial instruments. 期货市场提供了 对商品或金融工具未来价格综合信息所作出的市场判断。
Finance Vocabulary——常用金融词汇
A.T.M.
AutomatedTellerMachi ne; cashdispenser
Banknote
Piece of paper money
Legal tender
Loan Donate
Currency that cannot legally be refused as payment
Money paid for borrowing or investing money
Written order to a bank to pay the stated amount from one's account
Sum of money to be returned with interest
5
If you go short and the futures price goes up, you lose money. 如果你卖空而期货价格上升，你就赔钱。
Futures is one of the types of financial futures. 外汇期货是金融期货的一种。
The futures price is not constant until the contract expires. 直到其期货合约到期之前，期货价格才稳定。
Futures markets provide a current consensus of knowledgeable opinions about the future price of commodities or financial instruments. 期货市场提供了 对商品或金融工具未来价格综合信息所作出的市场判断。
财务会计英语专项培训PPT公开课(90页)
2. Describe and illustrate the equity reporting for proprietorships, corporations, partnerships, and limited liability corporations.
3. Describe and illustrate the accounting for forming a partnership.
Disadvantages • Difficulty in raising
large amounts of capital • Unlimited liability
Alternative Forms of Business Entities
A corporation is organized under state or federal statutes as a separate
Alternative Forms of Business Entities
A proprietorship is owned by one individual.
Advantages
• Ease in organizing • Low cost of
organizing
Joe’s
Review of Chapter 1
Chapter 13
Partnerships and Limited Liability Corporations
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
3. Describe and illustrate the accounting for forming a partnership.
Disadvantages • Difficulty in raising
large amounts of capital • Unlimited liability
Alternative Forms of Business Entities
A corporation is organized under state or federal statutes as a separate
Alternative Forms of Business Entities
A proprietorship is owned by one individual.
Advantages
• Ease in organizing • Low cost of
organizing
Joe’s
Review of Chapter 1
Chapter 13
Partnerships and Limited Liability Corporations
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
《财务会计英语》课件
演讲人姓名
Definition of Financial Accounting
Summary: Financial Accounting is a process of recording, categorizing, and summarizing financial transactions and events in a systematic manager to provide information about the financial position, performance, and changes in the financial position of an entity to interested parties
Cost calculation and expense allocation
Summary: Formulation of cost sharing standards Detailed description: Develop reasonable cost allocation standards and allocate indirect expenses to specific cost objects. The formulation of cost sharing standards should consider relevant factors, such as direct labor, machine hours, etc., to ensure the rationality and accuracy of cost sharing. At the same time, the allocation standards should be regularly evaluated and adjusted to reflect changes in the company's business and the actual occurrence of expenses.
Definition of Financial Accounting
Summary: Financial Accounting is a process of recording, categorizing, and summarizing financial transactions and events in a systematic manager to provide information about the financial position, performance, and changes in the financial position of an entity to interested parties
Cost calculation and expense allocation
Summary: Formulation of cost sharing standards Detailed description: Develop reasonable cost allocation standards and allocate indirect expenses to specific cost objects. The formulation of cost sharing standards should consider relevant factors, such as direct labor, machine hours, etc., to ensure the rationality and accuracy of cost sharing. At the same time, the allocation standards should be regularly evaluated and adjusted to reflect changes in the company's business and the actual occurrence of expenses.
财务会计英语.ppt
1-5
Main knowledge
This chapter begins our study of accounting. It has three goals: (1) To describe what accounting is (2) To explore why it is useful (3) To introduce three dimensions critical to
understanding and using accounting: economic concepts accounting conventions institutional context
1-6
Main knowledge
We begin by defining accounting. We then explore accounting by introducing its basic
1-22
1.1.2 Financial Statements
Balance Sheet Income Statement Statement of Cash Flows Statement of Changes in Shareholders’
Equity Statement of Retained Earnings
by considering accounting information are presented and discussed.
1-7
Main knowledge
Finally, we present the foundation of the framework of economic concepts, accounting conventions, and institutional context on which we base future chapters.
《财务会计英语》PPT课件
完整版课件ppt
9
Time-Period Concept
A fiscal year ends on a date other than December 31. Most retailers, including Wal-Mart and J.C.Penney, use a fiscal year that ends on January 31 because the low point in their business activity falls after Christmas.
完整版课件ppt
5
Under accrual accounting, cash transactions are recorded as well as noncash transactions such as: ➢Purchases of inventory on account ➢Sales on account ➢Depreciation expense ➢Accrual of expenses incurred but not yet paid ➢Usage of prepaid rent, insurance, and supplies
➢ A fiscal year ends on a date other than December 31.Interim financial statements are usually prepared for periods such as a month, a quarter, or semiannual period.
完整版课件ppt
15
Closing accounts
Debit each revenue account for its credit balance and credit Retained Earnings for the sum of the revenues. Credit each expense account for its debit balance. Debit retained earnings for the sum of the expenses . Credit the dividends account for its debit balance. Debit Retained Earnings.
财务会计英语unit1课件
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements
• Expense (费用) are the gross outflow of economic benefits resulted from the course of ordinary activities resulting in decreases in owner’s equity caused by the business’ revenueproducing operations, other than the decreases from distributions of profits to owners.
Section 3 Journalizing and Posting
Section 4 Financial Statements
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements • 1.1 The accounting equation
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements
Current assets (流动资产) are short-term assets including cash, bank deposit, accounts receivable, inventory, etc. Fixed assets (固定资产) are non-current assets, including land, buildings, equipment, furniture, etc. Intangible assets (无形资产) are also non-current assets, including patents, copyrights, licenses, franchises, goodwill, etc.
Section1 Accounting Equation and Accounting Elements
• Expense (费用) are the gross outflow of economic benefits resulted from the course of ordinary activities resulting in decreases in owner’s equity caused by the business’ revenueproducing operations, other than the decreases from distributions of profits to owners.
Section 3 Journalizing and Posting
Section 4 Financial Statements
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements • 1.1 The accounting equation
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements
Current assets (流动资产) are short-term assets including cash, bank deposit, accounts receivable, inventory, etc. Fixed assets (固定资产) are non-current assets, including land, buildings, equipment, furniture, etc. Intangible assets (无形资产) are also non-current assets, including patents, copyrights, licenses, franchises, goodwill, etc.
会计英语财务会计(ppt版)
executives 高级(gāojí)管理人员
professional judgment
职业判断力
第六页，共八十四页。
ethical standard 道德(dàodé)准那么
integrity 整合性
AICPA
美国(měi ɡuó)注册会计师 协会
第七页，共八十四页。
Chapter 2
第四十六页，共八十四页。
weight average
加权平均
(píngjūn)
第四十七页，共八十四页。
Chapter 7
第四十八页，共八十四页。
accumulated depletion
累计折耗(shéhào)
accumulated depreciation
累计折旧
acquisition cost 取得(qǔdé)本钱
第二十九页，共八十四页。
bad debt recovery 已确认(quèrèn)坏账的收
回
bed debt expense 坏账费用
bank charges 银行(yínháng)手续费
bank credit memorandum
银行贷项通知
第三十页，共八十四页。
bank debit memorandum
closing the accounts
结账
(jié zhànɡ)
closing entry 结账分录
credit balance 贷方余额
第十八页，共八十四页。
debit balance 借方余额
depreciation expense 折旧费用
double-entry accounting
第二十七页，共八十四页。
英文版财务会计51页PPT
Copyright © 2007 Prentice-Hall. All rights reserved
14
Going Concern Concept
• Assumes that the entity will remain in operation for the foreseeable future
Copyright © 2007 Prentice-Hall. All rights reserved
28
Exercise 1-17
5
Ethics
• Audit
– Examination of company’s financial situation – Performed by independent accountants
• Sarbanes-Oxley Act
– Criminal offense to falsify financial statements
• AICPA – Code of Professional Conduct for Accountants
• IMA – Standards of Ethical Conduct
Copyright © 2007 Prentice-Hall. All rights reserved
7
Types of Business Organizations
Copyright © 2007 Prentice-Hall. All rights reserved
2
Decision Makers
• Individuals • Businesses • Investors • Creditors • Taxing Authorities
财务会计英文版 09 PPT
$540,000
Accounting, 5/E GUOWEI HUST 9 - 6
7
华中科技大学管理学院
Gross Profit
Sales revenues – Cost of goods sold = Gross margin (before operating expenses)
Gross margin – Operating expenses = Net income
Specific identification $1,965.00
FIFO
$1,900.00
LIFO
$2,125.00
Weighted-average
$1,977.50
Accounting, 5/E GUOWEI HUST 9 - 24
25
华中科技大学管理学院
Comparison of Methods
Accounting, 5/E
20 Units @ $20 (Jan) GUOWEI HUST 9 - 20
21
华中科技大学管理学院
Last-In, First-Out
Cost of Goods Sold Oct $ 775 May 1,350 Total $2,125
25 Units @ $31 (Oct)
18
华中科技大学管理学院
Weighted Average
$2,825 total cost/100 units = $28.25/unit Cost of goods sold = 70 × $28.25 = $1977.50
Ending inventory = 30 × $28.25 = $847.50 Accounting, 5/E GUOWEI HUST 9 - 18
Accounting, 5/E GUOWEI HUST 9 - 6
7
华中科技大学管理学院
Gross Profit
Sales revenues – Cost of goods sold = Gross margin (before operating expenses)
Gross margin – Operating expenses = Net income
Specific identification $1,965.00
FIFO
$1,900.00
LIFO
$2,125.00
Weighted-average
$1,977.50
Accounting, 5/E GUOWEI HUST 9 - 24
25
华中科技大学管理学院
Comparison of Methods
Accounting, 5/E
20 Units @ $20 (Jan) GUOWEI HUST 9 - 20
21
华中科技大学管理学院
Last-In, First-Out
Cost of Goods Sold Oct $ 775 May 1,350 Total $2,125
25 Units @ $31 (Oct)
18
华中科技大学管理学院
Weighted Average
$2,825 total cost/100 units = $28.25/unit Cost of goods sold = 70 × $28.25 = $1977.50
Ending inventory = 30 × $28.25 = $847.50 Accounting, 5/E GUOWEI HUST 9 - 18
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