AccountingBasics英语会计基础教学课件期末复习
Accounting Basics英语会计基础教学课件(4)
(to record return of unwanted inventory purchased on account)
ACCY901 A'12
Recording freight costs
If the buyer pays the freight costs, these are treated as part of the cost of the inventory. BUT, we still record freight costs in a separate account This is the SAME entry for the periodic and perpetual systems
Operating cycles
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SERVICE BUSINESS
Perform service Accounts receivable Send invoice Receive cash
MERCHANDISING BUSINESS
Buy inventory Sell inventory Accounts receivable Send invoice Receive cash
Date Account Debit Credit
Nov 1 Inventory
5,000
Nov 1 le
5,000
Accounts payable
5,000
(to record purchase of inventory on account)
D E
Thursday Thursday
9:30 12:30
19-G006 19-2085
F
Friday
AccountingBasics英语会计基础教学课件期末复习
Chapter 6 - Inventories Chapter 7 - Accounting information systems Chapter 8 - Internal control and cash Chapter 9 - Accounting for receivables Chapter 11 - Current liabilities Chapter 10 - Non-current assets (PPE) Chapter 16 - Non-current liabilities Chapter 14 - Share capital Chapter 15 - Dividends & retained earnings Chapter 19 - Financial statement analysis
Week 13
Revision and exam preparation
Things to cover this week
Subject evaluation Exam overview Preparation techniques Overview of topics Remember: if you have something to ask
One of the compulsory financial statements for annual reporting by companies (along with Balance Sheet and Income Statement)
A lot of financial information in the cash flow statement
How do the chapters fit together?
AccountingBasics英语会计基础教学
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STATEMENT OF CASH FLOWS: USEFULNESS AND FORMAT
LO1
• A statement of cash flows provides
information about an entity’s cash receipts and cash payments during a period
• Ability to pay dividends and meet obligations • Reasons for difference between profit and net
cash provided (used) by operating activities • Cash investing and financing transactions for the period
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• Indicate the usefulness of the statement of cash
flows • Distinguish among operating, investing and financing activities • Prepare a statement of cash flows using the direct method • Statement of cash flows- the indirect method
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Significant non-cash activities
• Significant financing and investing activities that
do not affect cash are not reported in the body of the statement of cash flows, but are disclosed elsewhere in the financial statement • Examples include …
AccountingBasics英语会计基础教学课件
The $400 is still a March expense because this is the period in which the expense was incurred. The actual cash won’t go out until April, but the expense is still a March expense.
We need to make sure that asset and liability balances are accurately reflected at the end of the accounting period
Adjusting entries occur after the transactions have been recorded and posted, but before the financial statements are prepared
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Before we start…
Last week we looked at transactions analysis, journal entries and general ledger accounts…Elena Lee example
Transaction
1 October, office rent for October is paid in cash, $1800
.au/student/services/pass
Chapter 3: Adjusting the accounts
Week 3
2
BEFORE WE START….
2019年最新-AccountingBasics英语会计基础教学课件-精选文档
How much revenue should Penny record for 2019? Revenue for 2019 would be $22,400
Why?
Sales – Cash
$20,000
Sales – Accounts receivable $ 2,400
Total sales for 2019
debit. To increase balance debit again, to credit. To increase balance credit again,
decrease credit out of the account.
to decrease debit out of the account.
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Accrual versus cash basis of accounting
Cash-based accounting
Revenue recognised when the cash is received or paid.
Accrual-based accounting
Revenue recognised when goods and services are provided
Expenses recognised when the cash is received or paid
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Expenses recognised when assets are consumed or liabilities incurred
Cash versus accrual basis
Basic analysis
The expense Rent is increased $1800 because the payment pertains only to the current month; the asset Cash is decreased $1800
Accounting Basics英语会计基础教学(3)PPT课件
Journal entry Posting
Oct 1 Rent Expense
601 1800
Cash
101
(Paid October rent)
1800
Rent Expense 601 Oct 1 1800
Cash
101
Oct 1 800
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This week…
Accrual versus cash basis of accounting Revenue recognition criteria Expense recognition criteria Types of adjusting entries Prepayments Accruals Adjusted trial balance Worksheets Financial statements from worksheets
.au/student/services/pass
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第一部分
整体概述
THE FIRST PART OF THE OVERALL OVERVIEW, PLEASE SUMMARIZE THE CONTENT
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Chapter 3: Adjusting the accounts
Expenses recognised when the cash is received or paid
Expenses recognised when assets are consumed or liabilities incurred
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Cash versus accrual basis
Accrual basis
Income example: assume Penny received $20,000 in cash for sales during 2011 and charged clients $2,400 which was to be paid in the following year.
Accounting Basics英语会计基础教学课件.ppt
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•Basic principles of accounting information systems •Nature and purpose of a subsidiary ledger •How special journals are used •How to use a multicolumn journal •NOTE: download templates of all these journals from the elearning space!
Relevant, reliable, understandable, timely, comparable
Flexibility
Technological advances, increased competition, changing accounting principles, organisational growth, government regulation and de-regulation
Developing an accounting system
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1. Analysis
Planning and identifying information needs and sources
2. Design
Creating forms, documents, procedures, job descriptions and reports
Examples
Sales journal Cash receipts journal Purchases journal Cash payments journal
Accounting Basics英语会计基础教学(8)PPT课件
Factors influencing new share issue price include:
o Anticipated future earnings o Expected dividend rate per share o Current financial position o Current state of the economy o Current state of the securities market
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Share issue considerations
Issue of Shares
A company can issue ordinary shares
o Directly to investors, or o Indirectly through an underwriter (such as an
o The total amount of cash and other assets paid to the company by shareholders
o Share may be ordinary or preference shares
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Shareholders’ equity
5
Forming a company
Application filed with ASIC showing
o Name and purpose of company o Number and types of shares o Names of incorporators
Company constitution regulates internal management
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Characteristics of a
会计专业基础英语
Unit 4 AccountingPART I Fundamentals to Accounting第一部分会计基本原理1.accounting [ə'kaʊntɪŋ]n. 会计2.double-entry system复式记账法2-1 Dr.(Debit) 借记2-2 Cr.(Credit) 贷记3.accounting basic assumption会计基本假设4.accounting entity会计主体5.going concern持续经营6.accounting periods会计分期7.monetary measurement货币计量8.accounting basis会计基础9.accrual [ə'krʊəl] basis权责发生制【讲解】accrual n. 自然增长，权责发生制原则，应计项目accrual concept 应计概念accrue [ə'kruː] v. 积累，自然增长或利益增加，产生10.accounting policies会计政策11.substance over form实质重于形式12.accounting elements会计要素13.recognition [rekəg'nɪʃ(ə)n] n. 确认13-1 initial recognition [rekəg'nɪʃ(ə)n] 初始确认【讲解】recognize ['rɛkəg'naɪz] v. 确认14.measurement ['meʒəm(ə)nt] n. 计量14-1 subsequent ['sʌbsɪkw(ə)nt] measurement 后续计量15.asset['æset] n. 资产16.liability [laɪə'bɪlɪtɪ] n. 负债17.owners’ equity所有者权益18.shareholder’s equity股东权益19.expense [ɪk'spens; ek-] n. 费用20.profit ['prɒfɪt] n. 利润21.residual [rɪ'zɪdjʊəl] equity剩余权益22.residual claim剩余索取权23.capital['kæpɪt(ə)l] n. 资本24.gains [ɡeinz] n. 利得25.loss [lɒs] n. 损失26.Retained earnings留存收益27.Share premium股本溢价28.historical cost历史成本【讲解】historical [hɪ'stɒrɪk(ə)l] adj. 历史的,历史上的historic [hɪ'stɒrɪk] adj. 有历史意义的,历史上著名的28-1 replacement [rɪ'pleɪsm(ə)nt] cost 重置成本29.Balance Sheet/Statement of Financial Position资产负债表29-1 Income Statement 利润表29-2 Cash Flow Statement 现金流量表29-3 Statement of changes in owners’equity (or shareholders’equity) 所有者权益（股东权益）变动表29-4 notes [nəʊts] n. 附注PART II Financial Assets*第二部分金融资产*30.financial assets金融资产e.g. A financial instrument is any contract that gives rise to a financial asset of one enterprise and a financial liability or equity instrument of another enterprise.【讲解】give rise to 引起，导致31.cash on hand 库存现金32.bank deposits [dɪ'pɒzɪt] 银行存款33.A/R, account receivable应收账款34.notes receivable应收票据35.others receivable其他应收款项36.equity investment股权投资37.bond investment债券投资38.derivative financial instrument衍生金融工具39.active market活跃市场40.quotation [kwə(ʊ)'teɪʃ(ə)n]n. 报价41.financial assets at fair value through profit or loss以公允价值计量且其变动计入当期损益的金融资产41-1 those designated as at fair value through profit or loss 指定为以公允价值计量且其变动计入当期损益的金融资产41-2 financial assets held for trading 交易性金融资产42.financial liability金融负债43.transaction costs交易费用43-1 incremental external cost 新增的外部费用【讲解】incremental [ɪnkrə'məntl] adj. 增量的,增值的44.cash dividend declared but not distributed 已宣告但尚未发放的现金股利投资收益45.profit and loss arising from fair value changes公允价值变动损益46.Held-to-maturity investments持有至到期投资47.amortized cost摊余成本【讲解】amortized [ə'mɔ:taizd]adj. 分期偿还的,已摊销的48.effective interest rate实际利率49.loan [ləʊn] n. 贷款50.receivables [ri'si:vəblz] n. 应收账款51.available-for-sale financial assets可供出售金融资产52.impairment of financial assets金融资产减值52-1 impairment loss of financial assets 金融资产减值损失53.transfer of financial assets金融资产转移53-1 transfer of the financial asset in its entirety 金融资产整体转移53-2 transfer of a part of the financial asset 金融资产部分转移54.derecognition [diː'rekəg'nɪʃən] n. 终止确认，撤销承认54-1 derecognize [diː'rekəgnaɪz] v. 撤销承认e.g. An enterprise shall derecognize a financial liability (or part of it) only when the underlying present obligation (or part of it) is discharged/cancelled.【译】金融负债的现时义务全部或部分已经解除的，才能终止确认该金融负债或其一部分。
归纳会计英语—基础会计.ppt
balance sheet 资产负债表
statement of cash flows
现金流量表
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financial condition 财务状况
retained earnings 留存收益
accrual-basis 权责发生制
cash-basis 现金收付制
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credit 贷方
source document 原始凭证
permanent accounts 永久性账户
temporary account 临时性账户
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journalizing 记日记账
book of original entry
原始分录的记录
chart of accounts 会计科目表
balance 余额
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Chapter 5
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accounting cycle 会计循环
entry 会计分录
general journal 普通日记账
journalizing 记日记账
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ledger 分类账
accounting period 会计分期
cash-baபைடு நூலகம்is 现金收付制
accrual-basis 权责发生制（应计制）
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cost principle 成本原则
matching principle 配比原则
realization principle objective principle
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net income 净收益
Accounting Basics英语会计基础教学(10)PPT课件
• Where did the cash come from during the period? • What was the cash used for during the period? • What was the change in the cash balance during
•Current asset and current liability transactions normally result from the operating activities of a company, such as buying and selling merchandise.
Investing activities
1
Chapter 18 The statement of cash flows
WEEK 11 Autumn 2012
ACCY901
第一部分
整体概述
THE FIRST PART OF THE OVERALL OVERVIEW, PLEASE SUMMARIZE THE CONTENT
3
Learning Objectives
• Ability to generate future cash flows • Ability to pay dividends and meet obligations • Reasons for difference between profit and net
cash provided (used) by operating activities • Cash investing and financing transactions for the
会计英语期末知识点总结
会计英语期末知识点总结1. Basic Concepts of Accounting1.1. Financial AccountingFinancial accounting is the process of recording, summarizing, and reporting financial transactions of a business to external parties such as investors, creditors, and regulators. It provides a comprehensive view of the financial performance and position of a company.1.2. Managerial AccountingManagerial accounting is the process of providing financial and non-financial information to internal management for decision making, planning, and control. It focuses on providing relevant and timely information to support the management in making informed decisions.1.3. Accounting PrinciplesGenerally Accepted Accounting Principles (GAAP) are a set of guidelines and rules that govern the accounting practices and procedures in the United States. These principles ensure consistency and comparability in financial reporting.1.4. Double-Entry AccountingDouble-entry accounting is a system in which every financial transaction has equal and opposite effects on at least two different accounts. This system ensures accuracy and completeness in recording financial transactions.1.5. Accrual Basis vs. Cash Basis AccountingAccrual basis accounting recognizes revenues when earned and expenses when incurred, regardless of when cash is received or paid. Cash basis accounting, on the other hand, recognizes revenues and expenses only when cash is received or paid.2. Financial Statements2.1. Balance SheetA balance sheet is a financial statement that shows the financial position of a company at a specific point in time. It presents the assets, liabilities, and equity of the business, providinga snapshot of its financial health.2.2. Income StatementAn income statement, also known as a profit and loss statement, shows the revenues, expenses, and profits (or losses) of a company over a specific period of time. It provides a summary of the company's financial performance.2.3. Statement of Cash FlowsThe statement of cash flows shows the sources and uses of cash in a company's operating, investing, and financing activities. It provides insights into the cash flow dynamics of a business.2.4. Statement of Retained EarningsThe statement of retained earnings shows the changes in a company's retained earnings over a specific period, including net income, dividends, and other adjustments. It reconciles the beginning and ending balances of retained earnings.3. Key Principles in Accounting3.1. Historical Cost PrincipleThe historical cost principle requires assets to be recorded at their original cost, rather than their current market value. This principle ensures reliability and objectivity in financial reporting.3.2. Revenue Recognition PrincipleThe revenue recognition principle states that revenues should be recognized when earned, regardless of when cash is received. This principle ensures that revenues are matched with the expenses incurred to generate them.3.3. Matching PrincipleThe matching principle requires expenses to be recognized in the same period as the revenues they help generate. This principle ensures that the income statement accurately reflects the profitability of a company.3.4. Full Disclosure PrincipleThe full disclosure principle requires companies to disclose all relevant information in their financial statements and footnotes, providing a complete and transparent view of their financial position and performance.3.5. Consistency PrincipleThe consistency principle requires companies to use the same accounting methods and techniques from one period to the next, providing consistent and comparable financial information.In conclusion, accounting is a vital function in any business organization. It provides crucial information that helps in decision-making, planning, and control. By understanding the basic concepts, financial statements, and key principles in accounting, stakeholders can make informed judgments about the financial health and performance of a company.。
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The amount of the estimate for each year is recorded as an adjustment to the Warranty Provision account
Overview | LIABILITIES ~ Current liabilities
Types of current liabilities we’ve covered
Accounts payable Notes payable – same as accounts payable but with interest Unearned revenue – remember the concert example Accrued liabilities – provisions e.g. warranty liability
In this chapter, the focus is mostly on depreciation methods
Straight line (based on years of useful life) Units of production (based on units of useful life) Diminishing (or reducing) balance
EVERYONE wants it!!! So, we need internal control procedures. A fundamental internal control procedure for cash is the bank
reconciliation statement. In Week 5, our example was Friends Ltd. Key items in a bank reconciliation
Overview | ASSETS ~ Accounts receivable
What we’re interested here is how to account for measurement of accounts receivable and impairment.
If there is impairment, reduce accounts receivable via
Week 13
Revision and exam preparation
Things to cover this week
Subject evaluation Exam overview Preparation techniques Overview of topics Remember: if you have something to ask
Here we’re interested in calculating the value of ending inventory so we can complete the COGS calculation…
COGS = beginning inventory + net purchases – ending inventory.
One of the compulsory financial statements for annual reporting by companies (along with Balance Sheet and Income Statement)
A lot of financial information in the cash flow statement
Dividends
Overview | ASSETS ~ Non- current assets
Important to recognise that sometimes many costs can contribute to the actual cost of an asset (ie more than just purchase price)
EQUITY
Share capital, dividends & retained earnings
FINANCIAL STATEMENT ANALYSIS
Analysing financial statements
What about these topics?
CASH FLOW STATEMENTS
NON-CURRENT LIABILITIEerview | EQUITY ~ Share capital, dividends, retained earnings
Several elements of share issuing covered. Main focus:
BUDGETING
Budgeting is a basic life skill! Also important for all business/commerce majors, not just accounting.
Overview | ASSETS ~ Cash
What’s the problem with cash from a business point of view?
IGNORE any existing balance in impairment account
If using ageing method
ADJUST for any existing balance in impairment account
Overview | ASSETS ~ Inventories
Direct method Allowance method
Percentage of sales method Ageing of accounts receivable method
Key things to remember with allowance method
If using percentage of sales method
me about the final exam, it has to happen NOW!!! i.e. while the lecture is happening!!!! Thank you ☺
Exam overview
8 questions. No multiple choice. Problem-style questions. Similar to tutorials. Chapters covered include those AFTER mid-semester… More on the exam after we review the chapters…
Chapters…remember these ones???
Chapter 6 - Inventories – FIFO/LIFO/WA Chapter 7 - Accounting information systems Chapter 8 - Internal control and cash Chapter 9 - Accounting for receivables Chapter 11 - Current liabilities Chapter 10 - Non-current assets (PPE) Chapter 16 - Non-current liabilities Chapter 14 - Share capital Chapter 15 - Dividends & retained earnings Chapter 19 - Financial statement analysis Chapter 18 - Cash flow statements Chapter 20 - Management accounting Chapter 23 - Budgeting
First in, First out (FIFO) Last in, First out (LIFO) Average cost
Key things to remember:
Think about what it is you are working out…is it ending inventory or COGS?
Outstanding deposits Unpresented cheques Dishonoured cheques Bank or company errors Bank changes or collections on behalf of the company Any associated adjusting entries that might be required
Chapter 6 - Inventories Chapter 7 - Accounting information systems Chapter 8 - Internal control and cash Chapter 9 - Accounting for receivables Chapter 11 - Current liabilities Chapter 10 - Non-current assets (PPE) Chapter 16 - Non-current liabilities Chapter 14 - Share capital Chapter 15 - Dividends & retained earnings Chapter 19 - Financial statement analysis
Issuing of ordinary shares payable by installments
E.g. if a company wishes to issue 10,000 shares at an issue price of $20 per share with $10 payable on application, $5 payable on allotment and $5 payable on call.