第1学期《会计专业英语》作业
会计专业英语作文
会计专业英语作文Accounting Major。
Accounting is a crucial part of the business world. It is the process of recording, summarizing, analyzing, and reporting financial transactions. As an accounting major, I have gained a deep understanding of the principles and practices of accounting, and I am committed to pursuing a successful career in this field.One of the key skills that I have developed as an accounting major is the ability to analyze and interpret financial data. This involves understanding the various financial statements, such as the balance sheet, income statement, and cash flow statement, and being able to use this information to make informed decisions. I have also learned how to use accounting software and other tools to process and analyze financial data, which is essential for working in today's fast-paced business environment.In addition to technical skills, I have also honed my communication and teamwork abilities. As an accounting major, I have had the opportunity to work on group projects and case studies, which has allowed me to collaborate with my peers and develop my interpersonal skills. I have also learned how to effectively communicate financial information to non-financial professionals, which is an important skill for any accountant.Furthermore, I have gained a strong understanding of the ethical considerations in accounting. As an accounting major, I have studied the importance of integrity and honesty in financial reporting, and I am committed to upholding these principles in my future career. I believe that ethical behavior is essential for maintaining thetrust and confidence of stakeholders, and I am dedicated to conducting myself in a professional and ethical manner at all times.As I look to the future, I am excited about the opportunities that a career in accounting can offer. Whether it is working in public accounting, corporateaccounting, or another related field, I am confident that my education and experience as an accounting major have prepared me for success. I am eager to continue learning and growing in this field, and I am committed to making a positive impact through my work.In conclusion, being an accounting major has provided me with a strong foundation in accounting principles and practices, as well as valuable skills in analysis, communication, and ethics. I am confident that my education and experiences have prepared me for a successful career in accounting, and I am excited about the opportunities that lie ahead. I am committed to continuing to learn and grow in this field, and I am eager to make a positive impact through my work.。
会计英语谭茜玮参考答案
会计英语谭茜玮参考答案会计英语是会计专业学生必修的课程之一，它不仅涵盖了会计学的基本概念和理论，还涉及到了会计实务操作和国际会计准则。
谭茜玮教授的《会计英语》参考答案为学生提供了一个学习会计英语的参考框架，帮助学生更好地理解和掌握会计英语的相关知识。
一、会计英语基础知识1. 会计定义：会计是一门记录、分类、汇总和解释经济交易的学科，旨在提供财务信息，以帮助利益相关者做出决策。
2. 会计要素：资产（Assets）、负债（Liabilities）、所有者权益（Owner's Equity）、收入（Revenues）、费用（Expenses）。
3. 会计原则：会计原则包括会计实体原则、持续经营原则、货币计量原则、历史成本原则等。
二、会计循环1. 会计循环是会计工作的基本流程，包括确认、记录、分类、汇总和报告。
2. 确认：确定经济交易是否符合会计准则，是否需要记录。
3. 记录：将确认的经济交易以会计分录的形式记录在账簿中。
4. 分类：将记录的交易按照会计要素进行分类。
5. 汇总：将分类后的交易汇总成财务报表。
6. 报告：将汇总的财务报表向利益相关者报告。
三、财务报表1. 资产负债表（Balance Sheet）：反映企业在某一特定日期的财务状况，包括资产、负债和所有者权益。
2. 利润表（Income Statement）：反映企业在一定会计期间的经营成果，包括收入、费用和净利润。
3. 现金流量表（Cash Flow Statement）：反映企业在一定会计期间的现金收入和支出情况。
4. 所有者权益变动表（Statement of Changes in Equity）：反映企业所有者权益在一定会计期间的变动情况。
四、会计准则1. 国际财务报告准则（IFRS）：由国际会计准则委员会（IASB）制定，是全球范围内广泛应用的会计准则。
2. 美国通用会计准则（US GAAP）：由美国财务会计准则委员会（FASB）制定，是美国会计准则的主要来源。
会计专业英语11
作业说明1.用16开纸（184×260mm），上、下、左、右各设2CM边距；答案必须手写。
需要抄题，题目可以打印或手写，可双面书写。
2.围绕教材中有关内容作答。
3.保持卷面整洁易读。
4.独立完成。
第16周周五前交学委。
5. 作业模板如下页所示：2013-2014学年第1学期《专业英语》作业专业：班级：任课教师：丘永政姓名：学号：成绩：I. 分析所给交易并填写和翻译报表。
Holden Graham started The Graham Co., a new business that began operations on May 1. The Graham Co. completed the following transactions duringRequire d：1.Prepare an income statement for May, a statement of cash flows for May.2.报表格式如下，要求在表中填写相应数字，并将表中项目翻译成中文。
（30）THE GRAHAM CO. Income StatementTHE GRAHAM CO. Statement of Cash FlowsII. Translate the following sentences into Chinese（30）1.Most U.S. companies are not directly affected by international accounting standards. International standards are put forth as preferred accounting practices. However, stock exchanges and other parties are increasing the pressure to narrow differences in worldwide accounting practices. International accounting standards are playing an important role in that process.2.The objectivity concept and cost principle are related in that most users consider information based on cost as objective. Information prepared using both is considered highly reliable and often relevant.ers desire information about the performance of a specific entity. If information is mixed between two or more entities, its usefulness decreases.4.The revenue recognition principle gives preparers guidelines on when to recognize (record) revenue. This is important; for example, if revenue is recognized too early, the statements report revenue sooner than it should and the business looks more profitable than it is. The reverse is also true.5.The three basic forms of business organization are sole proprietorships, partnerships, and corporations.6.Owners of corporations are called shareholders(or stockholders). Corporate ownership is divided into units called shares (or stock). The most basic of corporate shares is common stock (or capital stock).7.An income statement reports a company's revenues and expenses along with the resulting net income or loss. A statement of owner's equity shows changes in equity, including that from net income or loss. Both statements report transactions occurring over a period of time.8.The balance sheet describes a company's financial position (assets, liabilities, and equity) at a point in time. The equity amount in the balance sheet is obtained from the statement of owner's equity.9.Cash flows from operating activities report cash receipts and payments from the primary business the company engages in. Cash flows from investing activities involve cash transactions from buying and selling long-term assets. Cash flows from financing activities include long-term cash borrowings and repayments to lenders and the cash investments from and withdrawals by the owner..Ⅲ. 根据提供的资料计算有关金额. （5×2）During October, Alameda Company had $102,500 of cash receipts and $103,150 of cash disbursements. The October 31 Cash balance was $18,600. Determine how much cash the company had at the close of business on September 30.在十月，阿拉米达公司拥有102500美元现金收入和103150美元的现金支出。
会计专业英语试卷（推荐5篇）
A.withdrawalsB.accounts receivableC.interest payable 6.Which of the following is an assets account?
A.notes missionC.bonds payable 7.Which of the following is an owner’s equity account?
Passage 1
Many rule govern drivers on the streets and highways.The most common one is the speed limit.The speed limit controls how fast a car may go.On streets in the city, the speed limit is usually 25 or 35 miles per hour.On the highways between cities, the speed limit is usually 55 miles per hour.When people drive faster than the speed limit, a policeman can stop them.The policeman gives them pieces of paper which call traffic tickets.Traffic tickets tell the drivers how much they must pay.When drivers receive too many tickets, they probably cannot drive for a while.The rush hour is when people are going to or returning from work.At rush hour there are many cars on the streets and traffic moves very slowly.Nearly al big cities have rush hours and traffic jams.Drivers do not get tickets very often for speeding during the rush hour because they cannot drive fast.1.The most common rule to govern drivers on the streets and highways is _____.A.the traffic lightB.the traffic licenseC.the traffic jamD.th计专业英语试卷（推荐5篇）
大学会计专业英语作文
大学会计专业英语作文Accounting is an important field in the business world, and studying accounting in college is a great way toprepare for a career in this field. As a college accounting student, I have learned a great deal about accounting principles and practices, as well as the role ofaccountants in the business world. In this essay, I will discuss some of the key concepts and skills that I have learned in my college accounting courses.One of the most important concepts in accounting is the idea of double-entry bookkeeping. This means that every transaction in a business must be recorded in two different accounts: one account to show the increase in assets, and another account to show the decrease in assets. For example, if a business purchases a new computer for $1,000, the transaction would be recorded in two accounts: the computer asset account would be increased by $1,000, and the cash account would be decreased by $1,000. This ensures that the books are always balanced and accurate.Another important concept in accounting is the use of financial statements. These statements provide a snapshotof a business's financial position at a given point in time. The three main financial statements are the balance sheet, the income statement, and the statement of cash flows. The balance sheet shows a business's assets, liabilities, and equity at a specific point in time. The income statement shows a business's revenue, expenses, and net income over a period of time. The statement of cash flows shows theinflows and outflows of cash during a period of time.In addition to these concepts, accounting students also learn a variety of skills that are essential for success in the field. One of the most important skills is attention to detail. Accountants must be meticulous in their work, ensuring that every transaction is recorded accurately and completely. They must also be able to analyze financialdata and draw conclusions from it. This requires strong analytical skills and the ability to think critically.Another important skill for accountants iscommunication. Accountants must be able to explainfinancial information to people who may not have a background in accounting. They must also be able to work effectively with others, including clients, colleagues, and managers.Finally, accounting students must also be familiar with accounting software and technology. Many businesses use accounting software to manage their finances, and accountants must be able to use these programs effectively. They must also be familiar with other technologies, such as spreadsheets and databases, that are used in accounting.In conclusion, studying accounting in college has provided me with a strong foundation in accounting principles and practices. I have learned about double-entry bookkeeping, financial statements, and a variety of skills that are essential for success in the field. I am confident that my education will prepare me for a rewarding career in accounting.。
会计英语试题及答案
会计英语试题及答案会计专业英语是会计专业人员职业发展的必要工具。
学习会计专业英语就是学习如何借助英语解决与完成会计实务中涉外的专业性问题和任务。
以下为你收集了会计英语练习题及答案，希望给你带来一些参考的作用。
一、单选题1. Which of the following statements about accounting concepts or assumptions are correct? 1） The money measurement assumption is that items in accounts are initially measured at their historical cost.2）In order to achieve comparability it may sometimes be necessary to override the prudence concept.3） To facilitate comparisons between different entities it is helpful if accounting policies and changes in them are disclosed.4） To comply with the law, the legal form of a transaction must always be reflected in financial statements. A 1 and 3 B 1 and 4 C 3 only D 2 and 3 2. Johnny had receivables of $5 500 at the start of 2010. During the year to 31 Dec 2010 he makes credit sales of $55 000 and receives cash of $46 500 from creditcustomers. What is the balance on the accounts receivables at 31 Dec 2010? A. $8 500 Dr B. $8 500 Cr C. $14 000 Dr D. $14 000 Cr3. Should dividends paid appear on the face of a company’s cash flow statement?A. YesB. NoC. Not sureD. Either4. Which of the following inventory valuation methods is likely to lead to the highest figure for closing inventory at a time when prices are dropping?A. Weighted Average costB. First in first out (FIFO)C. Last in first out (LIFO)D. Unit cost 5. Which of following items may appear as non-current assets in a company’s the statement of financial position?(1) plant, equipment, and property (2) company car(3) 4000 cash (4) 1000 cheque A. (1), (3)B. (1), (2)C. (2), (3)D. (2), (4)6. Which of the following items may appear as current liabilities in a company’s balance sheet?(1) investment in subsidiary(2) Loan matured within one year. (3) income tax accrued untill year end. (4) Preference dividend accrued A (1), (2) and (3) B (1), (2) and (4) C (1), (3) and (4) D (2), (3) and (4)7. The trial balance totals of Gamma at 30 September 2010 are:Debit $992,640 Credit $1,026,480Which TWO of the following possible errors could, when corrected, cause the trial balance to agree?1. An item in the cash book $6,160 for payment of rent has not been entered in the rent payable account.2. The balance on the motor expenses account $27,680 has incorrectly been listed in the trial balance as a credit.3. $6,160 proceeds of sale of a motor vehicle has been posted to the debit of motor vehicles asset account.4. The balance of $21,520 on the rent receivable account has been omitted from the trial balance. A 1 and 2 B 2 and 3 C 2 and 4 D 3 and 48. Listed below are some characteristics of financial information. (1) True (2) Prudence (3)Completeness (4) CorrectWhich of these characteristics contribute to reliability? A (1), (3) and (4) only B (1), (2) and (4) only C (1), (2) and (3) only D (2), (3) and (4) only (window.cproArray = window.cproArray || []).push({ id: "u3054369" });9. Which of the following statements are correct?(1) to be prudent, company charge depreciation annually on the fixed asset(2) substance over form means that the commercial effect of a transaction must always be shown in the financial statements even if this differs from legal form(3) in order to achieve the comparable, items should be treated in the same way year on year A. 2 and 3 only B. All of them C. 1 and 2 only D. 3 only10. which of the following about accruals concept are correct? (1) all financial statements are based on the accruals concept(2) the underlying theory of accruals concept and matching concept are same(3) accruals concept deals with any figure that incurred in the period irrelevant with it’s paid or notA. 2 and 3 onlyB. All of themC. 1 and2 only D.3 only二、翻译题1、将下列分录翻译成英文1. 借：固定资产清理 30 000累计折旧10 000 贷：固定资产 40 000 2．借：应付票据40 000 贷：银行存款 40 000 2、将下列词组按要求翻译（中翻英，英翻中） (1) 零用资金 (2) 本票 (3) 试算平衡(4) 不动产、厂房和设备 (5) Notes and coins (6) money order (7) general ledger (8) direct debt (9) 报销(10) revenue and gains三、业务题Johnny set up a business and in the first a few days of trading the following transactions occurred (ignoreall the tax):1) He invests $80 000 of his money in his business bank account.2) He then buys goods from Isabel, a supplier for $4 000 and pays by cheque, the goods is delivered right after the payment3) A sale is made for $3 000 –the customer pays by cheque4) Johnny makes another sale for $2 000 and the customer promises to pay in the future 5) He then buys goods from another supplier, Kamen, for $2 000 on credit, goods is delivered on time6) He pays a telephone bill of $800 by cheque7) The credit customer pays the balance on his account8) He returened some faulty goods to his supplier Kamen, which worth $400. 9) Bank interest of $70 is received10) A cheque customer returned $400 goods to him for a refund(window.cproArray = window.cproArray || []).push({ id: "u3054371" });参考答案1、单选题1-5 CCACB 6-10 DCABA2、翻译题1）中翻英1.Dr disposal of fixed assetDepreciation Cr fixed asset2.Dr notes payableCr bank3、业务题1) Dr Cash Cr capital2) Dr finished goods Cr Cash3)Dr CashCr sales revenue4) Dr accounts receivable Cr sales revenue5) Dr finished goods Cr accounts re ceivable6) Dr administrative expense Cr Cash7)Dr CashCr accounts receivable8)Dr CashCr finished goods9)Dr CashCr financial expense10) Dr sales revenue Cr Cash。
会计专业 英文作文
会计专业英文作文英文回答：Accounting is a multifaceted discipline that involves recording, classifying, and summarizing financial transactions to provide information that is useful for decision-making. It is an essential function in any organization, regardless of size or industry, as it helps businesses track their financial performance, manage their cash flow, and make informed decisions about their future.There are many different aspects to accounting, including financial accounting, managerial accounting, auditing, and tax accounting. Financial accounting focuses on preparing financial statements that are used by external users, such as investors and creditors, to assess the financial health of a company. Managerial accounting, on the other hand, focuses on providing information that is useful for internal decision-making, such as budgeting and planning. Auditing is the process of examining financialrecords to ensure that they are accurate and complete. Tax accounting involves preparing tax returns and advising clients on tax matters.Accounting is a challenging but rewarding profession that offers a wide range of career opportunities. Accountants can work in a variety of settings, including public accounting firms, corporations, government agencies, and non-profit organizations. With the increasing complexity of the global economy, the demand for qualified accountants is expected to remain strong in the years to come.中文回答：会计是一门多方面的学科，涉及记录、分类和总结财务交易，以提供可用于决策的信息。
专业英语会计作文模板
专业英语会计作文模板英文回答：Introduction。
Financial accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful for decision-making. Accounting principles and standards are used to ensure that financial statements are prepared in a consistent and transparent manner.The Importance of Accounting。
Accounting is essential for businesses of all sizes. It provides information about a company's financial performance and position, which is used by investors, creditors, and other stakeholders to make informed decisions. Accounting also helps businesses to manage their finances and comply with legal and regulatory requirements.Accounting Principles。
The following are some of the key accounting principles:Accrual accounting: Transactions are recorded whenthey occur, regardless of when cash is received or paid.Going concern: A business is assumed to be a going concern, meaning that it will continue to operate in the foreseeable future.Matching principle: Expenses are matched to the revenues they generate.Materiality: Only material information is disclosed in financial statements.Accounting Standards。
会计专业英语练习题
会计专业英语练习题Chapter 2 Accounting Concepts and PrinciplesAsset 资产Liability 负债Equity 所有者权益、股本Revenue 收⼊Expense 费⽤Gain 利得Loss 损失For each item below, indicate to which category of elements of financial statements it belongs.每个项⽬下⾯，说明这类财务报表要素属于.(a) Retained earnings 留存收益equity(b) Sales 销售revenue(c) Additional paid-in capital 股本溢价equity(d) Inventory 存货asset(e) Depreciation 折旧费expense(f) Dividends 股息equity(g) Gain on sale of investment 出售投资收益gain(h)Interest payable 应付利息liability(i)Loss on sale of equipment销售设备的亏损loss(j) Issuance of commonstock发⾏普通股equityChapter 3 Financial Statements(a)Current assets.(b)Investments.(c)Property, plant, andequipment.(d)Intangible assets.(e)Other assets.(a)流动资产(b)投资(c 固定资产(d)⽆形资产(e)其他资产InstructionsIndicate by letter where each of thefollowing1.Preferred stock.2.Goodwill.3.Wages payable.4.Trade accounts payable.5.Buildings.6.Trading securities.7.Current portion of long-termdebt.8.Premium on bonds payable.9.Allowance fordoubtful accounts.10.A ccountsreceivable.s balance sheetCurrent liabilities.Non-current liabilities.Capital stock.Additional paid-in capital. Retained earnings.(f)流动负债(g)⾮流动负债。
《会计专业英语》习题答案人大版Chapter 1
Chapter 1 Introduction to AccountingMultiple choice questions:1. D2. C3. C4. C5. B6. A7. C8. D9. C 10. CDiscussion questions1. What are the three basic forms of business entities?The forms of business entities are generally divided into sole proprietorships, partnerships, or corporations.A sole proprietorship is an unincorporated business only owned by one person. A sole proprietorship often has the following characteristics: (1) The owner also acts as the manager. (2) The owner is personally liable for the debts of the business. If the business has financial difficulties, creditors can force the owner to sell his or her personal assets to pay for the business debts. (3) Its advantage is simplicity.A partnership is usually an unincorporated business owned by two or more persons voluntarily acting as partners. The owners of a partnership, when unincorporated, are also personally liable for the debts of the business. In comparison he sole proprietorship, the partnership has the ability to raise larger amounts of capital investment from multiple owners. Since the personal skills of the individuals are vital to the partnership, covenants are usually drawn up which makes it difficult for individual partners to exit the legal entity.A corporation is a business organization as a separate legal entity owned by stockholders. Investors in a corporation receive shares of stock to indicate ownership claims. Shares of stock are easy to sell. Individuals can become stockholders by investing small amounts of money.2. Compared with sole proprietorship and partnership, what are the advantages of corporation as a form of business entity?Compared with sole proprietorships and partnerships,a corporation is easy for corporations to raise larger amounts of funds. Successful corporations often havethousands of stockholders, and their stocks are traded on organized stock exchanges like the New York Stock Exchange. Different from sole proprietorships and partnerships, corporate stockholders have no personal liability to the legal entity and their risks are limited to their purchase amount only.3. Who are the external users of accounting information? Give examples.External users have a current or potential financial interest in the reporting entity, but are not directly involved in managing and operating the business. The main external users include investors and creditors. Investors use accounting information to decide whether to buy, hold, or sell stocks. Creditors use accounting information to decide whether to sell goods or services on credit or lend money to an entity. Other external users of accounting information are government agencies, suppliers, customers, general public, and so on.4. What are the three main types of business activities? Give examples of each activity.All business can be classified into three types of activity: financing activity, investing activity, and operating activity. A company usually obtains cash through financing activities to start and grow its business. It then invests the cash in to run the business, such as delivery vehicles. Once this equipment is in place, it can begin the operating activities of making and selling goods.Financing activity: A company has two primary sources to raise funds. One is borrowing money and the other is issuing (selling) shares of stock in exchange for cash. Persons or entities to whom a company owes money are creditors. Amounts owed to creditors are called liabilities. A company may also obtain funds by selling shares of stock to investors in exchange for ownership rights. The total amount paid in by stockholders is ownership of shares of common stock and called paid-in capital. A creditor has a legal right to be paid at the agreed-upon time. However, stockholders have no legal right to expect any payments on a regular basis. The payments paid to stockholders are called dividends.Investing activity: Investing activities involve the purchase of the resources a company needs in order to operate. These resources can be buildings, furniture, computers, and delivery trucks among many other capital investments. Resources owned by a business are called capital assets. Assets have different types and names. Various, non-current, and tangible assets are called property, plant, and equipment (PPE).Operating activity: Once a business has assets, it can begin its operations. The amounts earned on the sale of its products or services are called revenues. Sources of revenues common to many businesses are sales revenues, service revenues, and interest revenues (typically not operating revenues but financing revenues).5. Accounting is sometimes described as the language of business. What is meant by this description?Accounting is an information system that identifies, records, and communicates the economic events of an organization to interested users. Specifically, accounting provides information about the reporting entity that is useful to present and potential investors, creditors, and other information users in decisions about providing resources to the entity. As we often say, accounting is a business language.。
《会计专业英语》习题答案人大版Chapter 8
Chapter 8 Financial Statements and Financial Statement AnalysisMultiple Choice Questions1. A2. C3. B4. B5. D6. C7. B8. D9. A 10. B 11. A 12. C 13.D 14. A 15. A 16. A 17. B 18. B 19. B 20. DDiscussion Questions1. Is the measurement of net income absolutely accurate? Why or why not?The measurement of net income is not absolutely accurate due to the assumptions and estimates in the accounting process. An Income Statement has certain limitations. For example, the amounts shown for depreciation expense are based upon estimates of the useful lives of the company’s tool, equipment, and building. In addition, the Income Statement includes only those events that have been evidenced by actual business transactions. Perhaps during the year, the company’s advertising has caught the attention of many potential customers, who may be the sources of future income. However, the Income Statement cannot reflect the unrealized revenue. Only after the real transactions take place, can the sales revenues be recognized.2. What are the three types of business activities? Give examples of each type of activity.The three types of business activities include operating, investing, and financing activities. Operating activities include the cash effects of transactions that create revenues and expenses in normal course of business. This category is the most important. It shows the cash provided by company operations, which is generally considered to be the best measure of a company’s ability to generate sufficient cash to continue as a going concern. They include sales of goods and services, payments to supplies of merchandise and services.Investing activities include the cash effects of transactions involving plant assets, intangible assets, and investments. They include purchase of property, plant, andequipment, investments in debt or equity securities of other entities.Financing activities involve liability and owners’ equity items. They include: (1) obtaining resources from owners and providing them with a return on their investments, and (2) borrowing money from creditors and repaying the amounts borrowed.3. What types of information are presented in the notes to the financial statements?A set of financial statements is normally accompanied by several notes. Notes to the financial statements are the means of explaining the items presented in the main body of financial statements. Notes disclose information useful in interpreting the statements and are an integral part of the financial statements.Many items are disclosed in notes accompanying the financial statements. Among the most useful are the followings:(1) Accounting policies and methods;(2) Unused lines of credit;(3) Significant commitments and loss contingencies;(4) Dividends in arrears;(5) Assets pledged to secure specific liabilities;(6) Changes in accounting policies and methods.4. Distinguish between trend change analysis and component percentage analysis. Which will be better suited for analyzing the changes in sales over several years?Trend changes are the changes in financial statement items from a base year to the following or preceding years. To compute trend change, a base year is firstly selected and each item in the financial statements for the base year is given a weight of 100 percent. Then, each item in the financial statements for the following or preceding years is expressed as a percentage of the base-year amount.Component percentage analysis is the proportional expression of each financial statement item in a given period to a base amount within the financial statement.Trend change analysis is better for analyzing the changes in sales over several years.5. Explain the ratios used to evaluate profitability. Explain briefly how each is computed.Profitability ratios measure the degree of success or failure of a company in a given year. Usually the key ratios include gross profit ratio, profit margin on sales, return on assets, return on equity, earnings per share, price-earnings ratio, and payout ratio.(1) Gross profit ratio.Gross profit ratio is computed by dividing gross profit by net sales. Gross profit (also known as gross margin) is the difference between net sales and the cost of goods sold.Gross profit = Net sales - Cost of goods soldGross profit ratio = Gross profitNet sales(2) Profit margin on sales.Profit margin on sales is computed as dividing net income by net sales. Net income is the difference between net sales and all expenses (including cost of goods sold). A company can improve its profit margin on sales by increasing its gross profit rate and/or by controlling its operating expense and other expenses.Profit margin on sales = Net incomeNet sales(3) Return on assets (ROA).ROA is computed by dividing net income by average total assets. Average total assets are computed by adding the beginning and ending values of total assets and dividing the total by two.ROA = Net incomeAverage total assets(4) Return on common owners equity (ROE).ROE equals net income less preferred dividends, divided by average common owners’ equity. Average common owners’ equity is computed by adding the beginning and ending values of total common owners’ equity and dividing the total by two.ROE = Net income-PreferreddividendsAverage common owners’ equity(5) Earnings per share (EPS).EPS equals net income less preferred dividends, divided by weighted-average number of shares outstanding in the same year. The weighted-average number of shares outstanding for the year is determined by multiplying the number of shares outstanding by the fraction of the year in which the number of shares outstanding remained unchanged.EPS = Net income-PreferreddividendsWeighted-average number ofshares outstanding(6) Price-earnings ratio (P/E ratio).P/E ratio is computed by dividing the current market price per share of a company’s stock by its annual EPS.P/E ratio = Stock price pershareEarning pershare(7) Payout ratio.Payout ratio equals cash dividends paid to common stockholders divided by net income (less preferred dividends).Payout ratio = Cash dividendsNet income -Preferreddividends6. Why might earnings per share be more significant to a stockholder in a large corporation than the total amount of net income?Earnings per share shows the dollars earned by each share of common stock. EPS equals net income less preferred dividends, divided by weighted-average number of shares outstanding in the same year. That is, a stockholder can know the net income he earns on the share of common stocks he owns.However, based on the total amount of net income, a stockholder cannot know how much he earns from his shares.7. Company C has a current ratio of 3 to pany D has a current ratio of 2 to 1. Does this mean that company C’s operating cycle is longer than company D’s? Why or why not?No, this does not mean that company C’s operating cycle is longer than company D’s. A company’s operating cycle is calculated as”Operating cycle=days to collect accounts receivable + days to sell inventoryDays to collect accounts receivable = 365Accounts receivable turnover rateDays to sell inventory = 365Inventory turnover rateAlthough Company C has a higher current ratio, we cannot calculate days to Days to collect accounts receivable and Days to sell inventory based on the information.8. Which ratio or ratios do you think should be of the greatest interest to:(1) A bank contemplating a short-term loan?A bank contemplating a short-term loan should be interested in such financial ratios as working capital, current ratio, quick ratio, and current cash debt coverage ratios.(2) An investor in common stock?An investor in common stock should be interested in such financial ratio as gross profit ratio, profit margin on sales, return on assets, return on equity, return on investment, earnings per share, price-earnings ratio, and payout ratio.9. Mr. Wang, the chief marketing officer, wants to reduce the selling price of his company’s products by 10% to increase market share. He says, “I know this will reduce our gross profit rate, but the increased number of units sold will make up for the lost margin.” Before this action is taken, what other factors does the company need to consider?Gross profit rate = Gross profitNet salesGross profit = Net sales - Cost of goods soldFrom the above, we know that gross profit rate is determined both by net sales and cost of goods sold. Reducing the net sales does not always lead to a reduced gross profit rate. If cost of goods sold greatly reduces, it is possible that gross profit ratio increases. If cost of goods sold increases, it is possible that the increased number of units sold will not make up for the lost margin. Therefore, before this action is taken, the company needs to consider cost of goods sold of his company’s products.10. Mr. Gao, the chief executive officer (CEO), is puzzled. During last year,his company experienced a net loss of $960,000, yet its cash increased by $540,000in the same year. Explain to the CEO how this could occur.Profit is the difference between revenues and expenses for a specified period oftime. If expenses are greater than revenues, the difference is net loss. Net income/netloss is measured on an accrual basis, while cash flows are measured on a cash basis.Under accrual basis of accounting, companies report revenue when earned, even if cashhas not been received, and they report expenses when incurred, even if cash has notbeen paid. As a result, net income/net loss is not the same as net cash.In this case, the net loss of $960,000 is the result of revenues minus expensesduring last year. It is measured on an accrual basis. However, the increased cash of $540,000 is the net cash from operating, investing, and financing activities during lastyear. It is measured on a cash basis. So, it is not strange that his company experienceda net loss of $960,000, and its cash increased by $540,000 in the same year.ProblemsProblem 8-1A condensed balance sheet for Company E prepared at the end of the year is as follows:AssetsCash $ 90,000Accounts receivable 168,000 Accounts payable 85,000 Inventory 350,000 Long-term liabilities 300,000 Prepaid expenses 75,000 Capital stock ($3 par) 330,000 Plant and equipment (net) 520,000 Retained earnings 563,000 Other assets 105,000Total $1,308,000 Total $1,308,000During the year the company earned a gross profit of $1,550,000 on sales of$3,200,000. Accounts receivables, inventory, and plant assets remained almost constantin amount through the year, so year-end figures may be used rather than the average.This company issued no preferred stocks. (红字标黄色是更正信息)RequiredCompute the following: (Carry to two decimal places)(1) Current ratioCurrent assets = cash + accounts receivable + inventory + prepaid expenses = $90,000+$168,000+$350,000+$75,000= $683,000Current liabilities = notes payable + accounts payable= $30,000 + $85,000= $115,000Current ratio = Current assets Current liabilities = $683,000$115,000 = 5.94(2) Quick ratioQuick assets = cash + accounts receivable= $90,000 + $168,000= $258,000Current liabilities = notes payable + accounts payable= $30,000 + $85,000= $115,000Quick ratio = Quick assets Current liabilities = $258,000$115,000 = 2.24(3) Working capitalCurrent assets = cash + accounts receivable + inventory + prepaid expenses = $90,000 + $168,000 + $350,000 + $75,000= $683,000Current liabilities = notes payable + accounts payable= $30,000 + $85,000= $115,000Working capital = current assets - current liabilities= $683,000 - $115,000= $568,000(4) Debt ratioTotal assets = $1,308,000Total liabilities = notes payable + accounts payable + long-term liabilities = $30,000 + $85,000 + $300,000= $415,000Debt ratio = Total liabilitiesTotal assets = $415,000$1,308,000= 31.72%(5) Accounts receivable turnover (all sales were on credit) Net sales = $3,200,000Average accounts receivable = $168,000Accounts receivable turnover rate = Net salesAverage (net) accounts receivable=$3,200,000$168,000=19.05 times per year(6) Inventory turnoverCost of goods sold = net sales – gross profit= $3,200,000 - $1,550,000= $1,650,000Average inventory = $350,000Inventory turnover rate = Cost of goods soldAverage (net) inventory= $1,650,000$350,000= 4.71 times per year(7) Profit margin on salesNet sales = $3,200,000Net income = retained earnings = $563,000Profit margin on sales = Net incomeNet sales = $563,000$3,200,000= 17.59%(8) Return on assetsNet income = retained earnings = $563,000 Average total assets = $1,308,000ROA = Net incomeAverage total assets = $563,000$1,308,000= 43.04%(9) Return on equity (this company issued no preferred stocks) Net income = retained earnings = $563,000Average common owners’ equity = capital stock + retained earnings= $330,000 + $563,000= $893,000ROE = Net income-Preferreddividends Average common owners’ equity = $563,000$893,000= 63.05%(10) Earnings per share (this company issued no preferred stocks)Net income = retained earnings = $563,000Weighted-average number of shares outstanding = $330,000/$3 = 110,000 sharesEPS = Net income-PreferreddividendsWeighted-average number ofshares outstanding =$563,000110,000= $5.12 per shareProblem 8-2The following selected data are from a recent annual report of company F. Dollar amounts are stated in millions.Beginning of the year End of the yearTotal current assets $9,230 $9,378Total current liabilities 4,836 5,902Total assets 31,125 33,561Total owners’ equity16,028 17,162Operating income 4,280Net income $3,735The company has long-term liabilities that bear interests at annual rate from 7 percent to 10 percent.Required1. Compute the company’s current ratio at: (1) the beginning of the year and, (2) the end of the year. (Carry to two decimal places)(1) Current ratio at the beginning of the yearTotal current assets = $9,230Total current liabilities = $4,836Current ratio = Current assetsCurrent liabilities = $9,230$4,836= 1.91(2) Current ratio at the end of the year Total current assets = $9,378Total current liabilities = $5,902Current ratio = Current assetsCurrent liabilities = $9,378$5,902= 1.592. Compute the company’s working capital at: (1) the beginning of the year and, (2) the end of the year. (Express dollar amounts in thousands)(1) Working capital at the beginning of the yearTotal current assets = $9,230Total current liabilities = $4,836Working capital = current assets - current liabilities= $9,230 - $4,836= $4,394(2) Working capital at the end of the yearTotal current assets = $9,378Total current liabilities = $5,902Working capital = current assets - current liabilities= $9,378 - $5,902= $3,4763. Is the company’s short-term, debt-paying ability improving or deteriorating? Company F’s short-term debt-paying ability has declined, as evidenced by its lower current ratio at the end of the year (1.59 vs. 1.91). The dollar amount of working capital has also decreased ($4,394 million to $3,476 million) which means that the company has a lesser ‘cushion’ between its currently-maturing obligations and its most liquid assets.4. Compute the company’s (1) return on average total assets and (2) return on average total owners’ equity. (Round the average assets and average equity to the nearest dollar and final computations to the nearest 1 percent)(1) Return on average total assetOperating income = $4,280Average total assets = ($31,125 + $33,561)/2 = $32,343ROA = Net incomeAverage total assets = $4,280$32,343= 13.23%(2) Return on average total owners’ equity Net income = $3,735Average owners’ equity = ($16,028 + $17,162)/2= $16,595ROE = Net income-Preferreddividends Average common owners’ equity = $3,735$16,595= 22.51%e. As an equity investor, do you think that company F’s management is utilizing the company’s resources in a reasonably efficient manner? Explain.Yes, company F’s management is using the company’s assets to generate a strong return on both assets (13.23%) and owners’ equity (22.51%), while maintaining strong liquidity with which to satisfy its obligations as they mature.Problem 8-3The following selected data for company M and company N for the year end are as follows:company M company NNet credit sales $1,600,000 $1,500,000Cost of goods sold 1,250,000 1,120,000Cash 175,000 89,000 Accounts receivable (net) 180,000 155,000 Inventory 72,000 218,000Current liabilities $210,000 $190,000Assume that the year-end balances shown for accounts receivable and for inventory also represent the average balances of these items throughout the year.Required1. For each of the two companies, compute the following:(1) Working capitalCompany M:Total current assets = cash + accounts receivable + inventory= $175,000 + $180,000 + $72,000= $427,000Total current liabilities = $210,000Working capital = current assets - current liabilities= $427,000 - $210,000= $217,000Company N:Total current assets = cash + accounts receivable + inventory= $89,000 + $155,000 + $218,000= $462,000Total current liabilities = $190,000Working capital = current assets - current liabilities= $462,000 - $190,000= $272,000(2) Current ratio Company M:Total current assets = $427,000 Total current liabilities = $210,000Current ratio = Current assetsCurrent liabilities = $427,000$210,000 = 2.03 Company N:Total current assets = $462,000 Total current liabilities = $190,000Current ratio = Current assetsCurrent liabilities = $462,000$190,000 = 2.43(3) Quick ratio Company M:Total quick assets = cash + accounts receivable= $175,000 + $180,000 = $355,000Total current liabilities = $210,000Quick ratio = Quick assetsCurrent liabilities = $355,000$210,000 = 1.69 Company N:Total quick assets = cash + accounts receivable= $89,000 + $155,000 = $244,000Total current liabilities = $190,000Quick ratio = Quick assetsCurrent liabilities = $244,000$190,000 = 1.28(4) Number of times inventory turned over during the year and the average number of days required to turn over inventory (round computation the nearestday)Company M:Cost of goods sold = $1,250,000 Average inventory = $72,000Inventory turnover rate = Cost of goods soldAverage (net) inventory = $1,250,000$72,000= 17.36 times per yearDays to sell inventory = 365Inventory turnover rate = 36517.36= 21 daysCompany N:Cost of goods sold = $1,120,000 Average inventory = $218,000Inventory turnover rate = Cost of goods soldAverage (net) inventory = $1,120,000$218,000= 5.14 times per yearDays to sell inventory = 365Inventory turnover rate = 3655.14= 71 days(5) Number of times accounts receivable turned over during the year and the average number of days required to collect account receivable (round computation the nearest day)Company M:Net credit sales = $1,600,000Average accounts receivable = $180,000Accounts receivable turnover rate = Net salesAverage (net) accounts receivable=$1,600,000$180,000=8.89 times per yearDays to collect accounts receivable = 365Accounts receivable turnover rate =3658.89= 41 daysCompany N:Net credit sales = $1,500,000Average accounts receivable = $155,000Accounts receivable turnover rate = Net salesAverage (net) accounts receivable=$1,500,000$155,000= 9.68 times per yearDays to collect accounts receivable = 365Accounts receivable turnover rate =3659.68= 38 days2. From the viewpoint of short-term creditor, comment on the quality of each company’s working capital. To which company would you prefer to sell $65,000 in merchandise on a 30-day open account?As Company M’s working capital ($217,000) is more than company N’s working capital ($272,000), from the viewpoint of short-term creditor, the quality of company N’s working capital is better than that of company M’s.I prefer to sell $65,000 in merchandise on a 30-day open account to company M,as company M spends less days (21 days) to sell inventory than company N (71 days).Problem 8-4The following data are selected from the financial statements of company G, a retail store:From the balance sheet:AssetsCash $46,000 Accounts receivable (net) 205,000 Inventory (at cost) 295,000 Plant & equipment (net of depreciation) 605,000 Current liabilities 210,000 Total owners’ equity600,000 Total assets 1,700,000 From the income statement:Net sales $3,000,000 Cost of goods sold 2,250,000 Operating expenses 525,000 Interest expense 85,000 Income tax expense 22,400 Net income 117,600 From the statement of cash flows:Net cash provided by operating activities $62,000 (including interest paid of $65,000) (68,000) Net cash used in investing activitiesFinancing activities:Amounts borrowed$52,000 Repayment of amounts borrowed (23,000) Dividends paid(21,000)Net cash provided by financing activities 8,000 Net increase in cash during the year$2,000Assume that the year-end balances shown for total assets and total owners’ equity also represent the average balances of these items throughout the year. This company issued no preferred shares. Required1. Explain how the interest expense shown in the income statement could be $85,000, when the interest payment appearing in the statement of cash flows is only $65,000.In the statement of cash flows, amounts are reported on a cash basis, whereas in the income statement, they are reported under the accrual basis. Apparently $20,000 of the interest expense incurred during the year had not been paid as of year-end. This amount should be included among the accrued expenses appearing as a current liability in the company’s balance sheet.2. Compute the following ratios/Dollar Amounts (round to one decimal place): (1) Current ratioTotal current assets = = cash + accounts receivable + inventory= $46,000 + $205,000 + $295,000 = $546,000Total current liabilities = $210,000Current ratio = Current assetsCurrent liabilities = $546,000$210,000 = 2.6(2) Working capitalTotal current assets = = cash + accounts receivable + inventory= $46,000 + $205,000 + $295,000= $546,000Total current liabilities = $210,000Working capital = Total current assets - Total current liabilities= $546,000 - $210,000= $336,000(3) Quick ratioTotal quick assets = = cash + accounts receivable= $46,000 + $205,000= $251,000Total current liabilities = $210,000Quick ratio = Quick assetsCurrent liabilities = $251,000$210,000= 1.2(4) Debt ratioTotal liabilities = total assets – total owners’ equity= $1,700,000 - $600,000= $1,100,000Total assets = $1,700,000Debt ratio = Total liabilitiesTotal assets = $1,100,000$1,700,000=64.7%(5) Times interest earnedIncome before income taxes and interest expense= net income + income taxes + interest expense= $117,600 + $22,400 + $85,000= $225,000Interest expense = $85,000Times interest earned = Income before income taxes and interestexpenseInterestexpense= $225,000$85,000= 2.6 times(6) Cash debt coverage ratioNet cash provided by operating activities = $62,000Average total liabilities = $1,100,000Cash debt coverage ratio = Net cashprovided by operating activitiesAverage total liabilities=$62,000$1,100,000= 0.06 times3. Comment on these measurements and evaluate Company G’s short-term debt-paying ability.By traditional measures, company G’s current ratio (2.6 to 1) and quick ratio (1.2 to 1) appear quite adequate. The company also generates a positive cash flow from operating activities ($62,000) which is about triple the amount of its dividend payments to stockholders ($21,000).4. Compute the following ratios:(1) Gross profit rateGross profit = Net sales - Cost of goods sold = $3,000,000 - $2,250,000 = $750,000 Net sales = $3,000,000Gross profit ratio = Gross profitNet sales = $750,000$3,000,000= 25%(2) Profit margin on sales Net income = $117,600 Net sales = $3,000,000Profit margin on sales = Net incomeNet sales = $117,600$3,000,000= 3.9%(3) Return on assetsNet income = $117,600 Average total assets = $1,700,000ROA = Net incomeAverage total assets = $117,600$1,700,000= =6.9%(4) Return on equityThis company issued no preferred shares. Net income = $117,600Average common owners’ equity = $600,000ROE = Net income-Preferreddividends Average common owners’ equity = $117,600$600,000= 19.6%(5) Payout ratioThis company issued no preferred shares. Net income = $117,600Cash dividends = $21,000Payout ratio = Cash dividendsNet income -Preferreddividends = $21,000$117,600= 17.9%5. Comment on Company G’s performance under these measurements.Company G’s profit margin on sales is 3.9%, indicating that one dollar of net sales results in net income of 3.9 cents. Investors and management can assess the company’s profitability by comparing its profit margin ratio with its competitors’ in the same industry. Profit margin on sales vary across industries. Retail stores generally experience lower profit margins.The 6.9% return on assets is not adequate by traditional standards to a retail store. However, the 19.6% return on equity is high. The problem arises because of company G’s relatively large interest expense, which is stated as $85,000 for the year.At year-end, company G has total liabilities of $1,100,000 ($1,700,000 total assets less $600,000 in owners’ equity). But $210,000 of these are current liabilities, most of which do not bear interest. Thus, company G has about $890,000 in interest-bearing debt.Interest expense of $85,000 on $890,000 of interest-bearing debt indicates an interest rate of approximately 9.55%. Obviously, it is not profitable to borrow moneyat 9.55%, and then reinvest these borrowed funds to earn a pretax return of only 6.9%. If company G cannot earn a return on assets that is higher than the cost of borrowing, it should not borrow money.Company G has a payout ratio of 17.9%, indicating that it has decided that it can and should pay 17.9% of its earnings to its owners. A higher percentage could mean that it has more cash than it has business opportunities to use that cash. A lower percentage could mean that it has very little cash to spare due to a declining business, or, very little cash to spare because it has many internal opportunities to invest that same cash.6. Discuss the safety of long-term creditors’ claims.Long-term creditors do not appear to have a high margin of safety. The debt ratio of 64.7% is high for American (or Chinese) industry. Also, debt is continuing to rise. During the current year, the company borrowed an additional $52,000, while repaying only $23,000 of existing liabilities. In the current year, interest payments alone ($65,000) was more than the net cash flow from operating activities ($62,000).A general rule of thumb is that a cash debt coverage ratio below 0.20 times is cause for additional examination. Company G’s cash debt coverage ratio is 0.06 times, below the 0.20 threshold, suggesting that the company is not solvent.。
会计专业 英语作文
会计专业英语作文## The Role of Accounting in Modern Business: ACritical Analysis。
Accounting, often referred to as the "language of business," is a vital component of modern business operations. It involves the systematic recording, analyzing, and reporting of financial transactions, providing stakeholders with the information needed to make informed decisions. This essay explores the significance of accounting in contemporary business, highlighting its key functions, the ethical considerations it entails, and its evolving role in the digital age.### Key Functions of Accounting。
At its core, accounting serves several critical functions. Firstly, it facilitates financial record-keeping, ensuring that businesses maintain accurate and reliable financial data. This data is essential for tracking revenue,expenses, assets, and liabilities, providing a clearpicture of a company's financial health.Secondly, accounting plays a pivotal role in financial analysis. By analyzing financial statements such as the balance sheet, income statement, and cash flow statement, accountants can assess a company's profitability, liquidity, solvency, and efficiency. This analysis informs strategic decision-making, helping businesses identify areas for improvement and growth opportunities.Another key function is compliance with legal and regulatory requirements. Accountants ensure that businesses adhere to financial reporting standards and tax regulations, reducing the risk of legal issues and penalties. This compliance function also promotes transparency and accountability, fostering trust among stakeholders.### Ethical Considerations in Accounting。
《会计专业英语》耿云江课后答案
《会计专业英语》耿云江课后答案1、The students _____ outdoors when the visitors arrived. [单选题] *A. were playing(正确答案)B. have playedC. would playD. could play2、—______?—He can do kung fu.（）[单选题] *A. What does Eric likeB. Can Eric do kung fuC. What can Eric do(正确答案)D. Does Eric like kung fu3、_______ your help, I passed the English exam. [单选题] *A. ThanksB. Thanks to(正确答案)C. Thank youD. Thank to4、Three ______ died of water pollution last winter. [单选题] *A. hundreds of villagersB. hundred villagers(正确答案)C. hundreds villagersD. hundred of villagers5、—______ you speak French?—Yes, I can.（）[单选题] *A. NeedB. Can(正确答案)C. MightD. Must6、You have been sitting on my hat and now it is badly out of（）. [单选题] *A. dateB. shape(正确答案)C. orderD. balance7、If you want to be successful one day, you have to seize every _______ to realize your dream. [单选题] *A. changeB. chance(正确答案)C. chairD. check8、Ordinary books, _________ correctly, can give you much knowledge. [单选题] *A. used(正确答案)B. to useC. usingD. use9、87．—Could you? ? ? ? ? ? me the way to the nearest hospital?—Sure. [单选题] * A．askB．tell(正确答案)C．talkD．speak10、His new appointment takes（）from the beginning of next month. [单选题] *A. placeB. effect(正确答案)C. postD. office11、I’m looking forward to hearing from you _______. [单选题] *A. recentlyB. soon(正确答案)C. quicklyD. fast12、I hope Tom will arrive _______ to attend the meeting. [单选题] *A. in timesB. on time(正确答案)C. at timesD. from time to time13、Chinese people spend _____ money on travelling today as they did ten years ago. [单选题] *A. more than twiceB. as twice muchC. twice as much(正确答案)D. twice more than14、The Internet is an important means of（）[单选题] *A. conversationB. communication(正确答案)C. speechD. language15、16．Lily is a lovely girl. We all want to ________ friends with her. [单选题] * A．haveB．make(正确答案)C．doD．take16、My sister _______ listen to music when she was doing her homework．[单选题] *A. used to(正确答案)B. use toC. is used toD. uses to17、Tony is a quiet student, _______ he is active in class. [单选题] *A. soB. andC. but(正确答案)D. or18、My English teacher has given us some _______ on how to study English well. [单选题] *A. storiesB. suggestions(正确答案)C. messagesD. practice19、95．-Dad, can we walk? ? ? ? ? ? ?the road now?-No,we? ? ? ? ? ? ? ? ? ? . We have to wait until the light turns green. [单选题] *A．across, needn’tB．across, mustn’t(正确答案)C．though, can’tD．through, mustn't20、30．I want to find ______ and make much money. [单选题] *A．worksB．jobC．a job(正确答案)D．a work21、He is going to _______ a party this evening. [单选题] *A. hold(正确答案)B. makeC. needD. hear22、In crowded places like airports and railway stations, you___ take care of your luggage. [单选题] *A. canB. mayC. must(正确答案)D. will23、52．I'm happy to ________ a birthday card from an old friend. [单选题] *A．buyB．makeC．loseD．receive(正确答案)24、—Why is Mary asking Bob about the school trip? —Because she wants to know ______.（）[单选题] *A. how does he think of the tripB. what does he think of the tripC. what he likes the tripD. how he likes the trip(正确答案)25、( ) The salesgirls in Xiushui Market have set a good example______us in learning English. [单选题] *A. to(正确答案)B. forC. withD. on26、If you do the same thing for a long time, you'll be tired of it. [单选题] *A. 试图B. 努力C. 厌倦(正确答案)D. 熟练27、92．China is a big country ________ a long history. [单选题] *A．hasB．haveC．with(正确答案)D．there is28、John had planned to leave but he decided to stay in the hotel for _____ two days because of the heavy rain. [单选题] *A. otherB. another(正确答案)C. the otherD. others29、—______is my notebook？—Look! It’s in your schoolbag.（）[单选题] *A. WhatB. WhichC. Where(正确答案)D. How30、We were caught in a traffic jam. By the time we arrived at the airport the plane _____. [单选题] *A. will take offB. would take offC. has taken offD. had taken off(正确答案)。
19秋学期(1509、1603、1609、1703)《会计专业英语》在线作业答卷
试卷总分:100 得分:100
一、单选题 (共 20 道试题,共 40 分)
1.Financial reports are used by（ ）
A.management
B.investors
C.creditors
B.none of the above
C.intangible
D.held for sale in the ordinary course of the business
答案:A
4.The interest rate specified in the bond indenture is called the （ ）
A.market rate
B.effective rate
C.discount rate
D.contract rate
答案:D
5.When the market rate of interest on bonds is higher than the contract rate, the bonds will sell at ( )
C.if they are paid before they are incurred
D.if they are paid after they are incurred
答案:A
9.Profit is the difference between
A.the incoming cash and outgoing cash
A.their maturity value
B.their face value
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作业说明
1.用16开纸（184×260mm）打印题目，上、下、左、右各设2CM边距；
答案必须手写。
2. 作业模板如下页所示：
2012-2013学年第1学期《专业英语》作业
专业：班级：任课教师：丘永政
姓名：学号：成绩：
I. Analyzing transactions and preparing financial statements
Holden Graham started The Graham Co., a new business that began operations on May 1. The Graham Co. completed the following transactions during
Require d：
1.Prepare an income statement for May, a May 31 balance sheet. a statement
of cash flows for May.
2.These statements are given as follows
THE GRAHAM CO. Income Statement
THE GRAHAM CO.
Balance Sheet
THE GRAHAM CO.
Statement of Cash Flows
II. Translate the following sentences into Chinese
1.Most U.S. companies are not directly affected by international accounting standards. International standards are put forth as preferred accounting practices. However, stock exchanges and other parties are increasing the pressure to narrow differences in worldwide accounting practices. International accounting standards are playing an important role in that process.
2.The objectivity concept and cost principle are related in that most users consider information based on cost as objective. Information prepared using both is considered highly reliable and often relevant.
ers desire information about the performance of a specific entity. If information is mixed between two or more entities, its usefulness decreases.
4.The revenue recognition principle gives preparers guidelines on when to recognize (record) revenue. This is important; for example, if revenue is recognized too early, the statements report revenue sooner than it should and the business looks more profitable than it is. The reverse is also true.
5.The three basic forms of business organization are sole proprietorships, partnerships, and corporations.
6.Owners of corporations are called shareholders(or stockholders). Corporate ownership is divided into units called shares (or stock). The most basic of corporate shares is common stock (or capital stock).
7.An income statement reports a company's revenues and expenses along with the resulting net income or loss. A statement of owner's equity shows
changes in equity, including that from net income or loss. Both statements report transactions occurring over a period of time.
8.The balance sheet describes a company's financial position (assets, liabilities, and equity) at a point in time. The equity amount in the balance sheet is obtained from the statement of owner's equity.
9.Cash flows from operating activities report cash receipts and payments from the primary business the company engages in. Cash flows from investing activities involve cash transactions from buying and selling long-term assets. Cash flows from financing activities include long-term cash borrowings and repayments to lenders and the cash investments from and withdrawals by the owner.
.
10．Expenses：Outflows or using up of assets as part of operations of a business to generate sales.。