会计英语_第四版_叶建芳09
会计英语6-10章 中文翻译(叶建芳 孙红星)
制造企业主要包括以下三类存货： 1. 原材料，指企业取得的并将用于生产过程的物品。 2. 在产品，指正在各个生产工序加工的产品。记入在产品的成本包括原材料的成本， 直接人工成本和制造费用。 3. 产成品，指已经完工待售的产品。 在出售时，将产成品的成本确认为销售成本。成本确认的一个大致规则是，工厂内部发 生的成本确认为存货的成本，而工厂外部发生的成本记为销售费用或管理费用。 存货成本包括购买成本以及使存货达到预定可销售状态所发生的一切成本。 合理地计算 存货成本对于企业正确制定其产量， 定价以及战略决策是非常关键的。 生产过程的全部成本 以及使存货达到预定可销售状态的成本都应记入存货成本。与销售相关的成本作为期间费 用。 我们按存货的原始成本记录存货。 存货成本包括为使存货达到目前状态与位置的一切支 出。因此成本包括发票价格，运输费，运输途中保险费，以及其他相关费用。 对于生产制造企业来讲，存货的成本包括原材料成本，生产过程的人工成本，以及其他 相关制造费用。因此资本化的存货成本包括三类不同的存货：原材料，在产品和产成品。 ◇谁拥有存货？ 一般地，只有企业拥有存货的法定所有权，才可以将其作为存货列示在资产负债表中。 在离岸价格交货的情况下，在途商品的所有权归买方所有。因为在这种情况下，商品的 所有权已于商品装上运输工具时转移给买方。若采用目的地交货，卖方支付运输费用，并拥 有商品的所有权，当商品抵达目的地后，其所有权才转移给买方。 在委托代销的情况下，商品的所有者（委托人）将商品转给零售商（受托人） 。受托人 为委托人销售商品，但并不享有商品的所有权。 只有在满足以下两个条件时，存货才能被确认： （a）与该存货有关的经济利益很可能流 入企业；(b)该存货的成本能够可靠计量。
6.3 存货成本流转假设
当存货的单位成本一直不变时，确定期末存货的单位成本是很容易的。但现实生活中， 存货的单位成本一直在变。 如果我们可以确定期末存货中每一件存货的取得成本， 那么就可 以很容易地确定期末存货的总成本。 这种确定期末存货成本的方法称为个别认定法。 个别认 定法按存货的实物流转来分配成本。从理论角度，个别认定法较受青睐，尤其是对于单位价 值比较高的单一存货。但若企业存货数量较多时，采用个别认定法，一一认定每件存货的取 得成本会使成本计算任务繁重，费时费力，且核算成本非常高。对于存货数量多，且存货单 价较低的企业一般采用下面三种存货成本流转假设： （注意存货成本流转假设只是出于会计 目的，与存货实物流转无关。 ） 1.平均成本流转假设 按平均成本确定每件存货的成本。这种方法假设所销售的商品 的成本等于平均成本，即每次购入存货的成本的加权平均。 2.先进先出法 假设先购入的存货先发出。先进先出法的假设有一定的道理，因为我 们认为企业都想不断地更新自己的存货，并将最先购入的存货最先售出。通货膨胀时，使用 先进先出法计算出的净利润比其他方法下计算出的高， 因为此时根据先进先出法的假定， 售 出的是最先购入的存货，而在通货膨胀存在的情况下，最先购入的存货的单价较低，所以企 业的销售成本较低。若企业在通货膨胀，物价水平较高时，不断地补充存货，则由此所产生 的高利润一般被成为“存货利润”或“虚假利润” 。在通货紧缩时，使用先进先出法的影响 与上述相反，会使净利润偏低。 3.后进先出法 假设后购入的存货先发出。当物价上涨时，使用后进先出法计算的当 期净利润会比其他方法少。因此在物价上涨时，使用后进先出法是比较稳健的做法。因为近 期购入的存货的成本接近于企业存货的重置成本。 因此， 后进先出法把当期成本与当期收入 很好地进行配比。同时，由于净利润相对偏低，后进先出法还具有减少企业所得税的优点。 在通货紧缩，物价水平下降时，后进先出法的影响与上述相反。在物价水平下降时，使用后
会计英语-第四版-叶建芳04
Cash Management
Accurately account for cash. Prevent theft and fraud. Assure the availability of
adequate amounts of cash. Avoid unnecessarily large
having clearly established responsibilities maintaining adequate records insuring assets and bonding employees separating recordkeeping and custody over assets dividing responsibilities for related transactions using mechanical devices where practicable regularly performing independent reviews of the
internal control practices
10
Internal Control
Operational Controls Financial Reporting Controls
11
Cash defined
Liquidity refers to how readily an asset can be converted into other types of assets or can be used to buy services or satisfy obligations.
needs
enough
$ cash to pay its bills! 3
会计英语课后习题答案作者叶建芳会计英语课后习题参考答案
Suggested SolutionChapter 11.3.4.5.(a)(b) net income = 9,260-7,470=1,790(c) net income = 1,790+2,500=4,290Chapter 21.a.To increase Notes Payable -CRb.To decrease Accounts Receivable-CRc.To increase Owner, Capital -CRd.To decrease Unearned Fees -DRe.To decrease Prepaid Insurance -CRf.To decrease Cash - CRg.To increase Utilities Expense -DRh.To increase Fees Earned -CRi.To increase Store Equipment -DRj.To increase Owner, Withdrawal -DR2.a.Cash 1,800Accounts payable ................................................. 1,800 b.Revenue ................................................................. 4,500Accounts receivable ..................................... 4,500c.Owner’s withdrawals............................................... 1,500Salaries Expense ........................................... 1,500 d.Accounts Receivable (750)Revenue (750)3.Prepare adjusting journal entries at December 31, the end of the year.Advertising expense 600Prepaid advertising 600Insurance expense (2160/12*2) 360Prepaid insurance 360Unearned revenue 2,100Service revenue 2,100Consultant expense 900Prepaid consultant 900Unearned revenue 3,000Service revenue 3,000 4.1. $388,4002. $22,5203. $366,6004. $21,8005.1. net loss for the year ended June 30, 2002: $60,0002. DR Jon Nissen, Capital 60,000CR income summary 60,0003. post-closing balance in Jon Nissen, Capital at June 30, 2002: $54,000Chapter 31. Dundee Realty bank reconciliationOctober 31, 2009Reconciled balance $6,220 Reconciled balance $6,2202. April 7 Dr: Notes receivable—A company 5400Cr: Accounts receivable—A company 540012 Dr: Cash 5394.5Interest expense 5.5Cr: Notes receivable 5400June 6 Dr: Accounts receivable—A company 5533Cr: Cash 553318 Dr: Cash 5560.7Cr: Accounts receivable—A company 5533Interest revenue 27.73. (a) As a whole: the ending inventory=685(b) applied separately to each product: the ending inventory=6254. The cost of goods available for sale=ending inventory + the cost of goods=80,000+200,000*500%=80,000+1,000,000=1,080,0005.(1) 24,000+60,000-90,000*0.8=12000(2) (60,000+24,000)/( 85,000+31,000)*( 85,000+31,000-90,000)=18828Chapter 41. (a) second-year depreciation = (114,000 – 5,700) / 5 = 21,660;(b) second-year depreciation = 8,600 * (114,000 – 5,700) / 36,100 = 25,800;(c) first-year depreciation = 114,000 * 40% = 45,600second-year depreciation = (114,000 – 45,600) * 40% = 27,360;(d) second-year depreciation = (114,000 – 5,700) * 4/15 = 28,880.2. (a) weighted-average accumulated expenditures (2008) = 75,000 * 12/12 + 84,000 * 9/12 + 180,000 * 8/12 + 300,000 * 7/12 + 100,000 * 6/12 = 483,000(b) interest capitalized during 2008 = 60,000 * 12% + ( 483,000 –60,000) * 10% =49,5003. (1) depreciation expense = 30,000(2) book value = 600,000 – 30,000 * 2=540,000(3) depreciation expense = ( 600,000 – 30,000 * 8)/16 =22,500(4) book value = 600,000 – 30,000 * 8 – 22,500 = 337,5004. Situation 1:Jan 1st, 2008 Investment in M 260,000Cash 260,000June 30 Cash 6000Dividend revenue 6000Situation 2:January 1, 2008 Investment in S 81,000Cash 81,000June 15 Cash 10,800Investment in S 10,800December 31 Investment in S 25,500Investment Revenue 25,5005. a. December 31, 2008 Investment in K 1,200,000Cash 1,200,000June 30, 2009 Dividend Receivable 42,500Dividend Revenue 42,500December 31, 2009 Cash 42,500Dividend Receivable 42,500b. December 31, 2008 Investment in K 1,200,000Cash 1,200,000 December 31, 2009 Cash 42,500Investment in K 42,500Investment in K 146,000Investment revenue 146,000 c. In a, the investment amount is 1,200,000net income reposed is 42,500In b, the investment amount is 1,303,500Net income reposed is 146,000Chapter 51.a. June 1: Dr: Inventory 198,000Cr: Accounts Payable 198,000 June 11: Dr: Accounts Payable 198,000Cr: Notes Payable 198,000 June 12: Dr: Cash 300,000Cr: Notes Payable 300,000b. Dr: Interest Expenses (for notes on June 11) 12,100Cr: Interest Payable 12,100Dr: Interest Expenses (for notes on June 12) 8,175Cr: Interest Payable 8,175c. Balance sheet presentation:Notes Payable 498,000 Accrued Interest on Notes Payable 20,275d. For Green:Dr: Notes Payable 198,000 Interest Payable 12,100Interest Expense 7,700Cr: Cash 217,800For Western:Dr: Notes Payable 300,000Interest Payable 8,175Interest Expense 18,825Cr: Cash 327,0002.(1) 20⨯8 Deferred income tax is a liability 2,400Income tax payable 21,600 20⨯9 Deferred income tax is an asset 600Income tax payable 26,100(2) 20⨯8: Dr: Tax expense 24,000Cr: Income tax payable 21,600 Deferred income tax 2,400 20⨯9: Dr: Tax expense 25,500Deferred income tax 600Cr: Income tax payable 26,100 (3) 20⨯8: Income statement: tax expense 24,000Balance sheet: income tax payable 21,600 20⨯9: Income statement: tax expense 25,500 Balance sheet: income tax payable 26,1003.a. 1,560,000 (20000000*12 %* (1-35%))b. 7.8% (20000000*12 %* (1-35%)/20000000)5.Notes Payable 14,400 Interest Payable 1,296 Accounts Payable 60,000 +Unearned Rent Revenue 7,200 Current Liabilities 82,896Chapter 61. Mar. 1Cash 1,200,000Common Stock 1,000,000Paid-in Capital in Excess of Par Value 200,000Mar. 15Organization Expense 50,000Common Stock 50,000Mar. 23Patent 120,000Common Stock 100,000Paid-in Capital in Excess of Par Value 20,000The value of the patent is not easily determinable, so use the issue price of $12 per share on March 1 which is the issuing price of common stock.2. July.1Treasury Stock 180,000Cash 180,000The cost of treasury purchased is 180,000/30,000=60 per share.Nov. 1Cash 70,000Treasury Stock 60,000Paid-in Capital from Treasury Stock 10,000Sell the treasury at the cost of $60 per share, and selling price is $70 per share. The treasury stock is sold above the cost.Dec. 20Cash 75,000Paid-in Capital from Treasury Stock 15,000Treasury Stock 90,000The cost of treasury is $60 per share while the selling price is $50 which is lower than the cost.3. a. July 1Retained Earnings 24,000Dividends Payable—Preferred Stock 24,000b.Sept.1Dividends Payable—Preferred Stock 24,000Cash 24,000c. Dec.1Retained Earnings 80,000Dividends Payable—Common Stock 80,000d. Dec.31Income Summary 350,000Retained Earnings 350,0004.a. Preferred stock gives its owner certain advantages over common stockholders. These benefits include the right to receive dividends before the common stockholders and the right to receive assets before the common stockholders if the corporation liquidates. Corporation pay a fixed amount of dividends on preferred stock.The 7% cumulative term indicates that the investors earn 7% fixed dividends.b. 7%*120%*20,000=504,000c. If corporation issued debt, it has obligation to repay principald. The date of declaration decrease the stockholders’ equity; the date of record and the date of payment have no effect on stockholders.5.a. Jan. 15Retained Earnings 35,000Accumulated Depreciation 35,000To correct error in prior year’s depreciation.b. Mar. 20Loss from Earthquake 70,000Building 70,000c. Mar. 31Retained Earnings 12,500Dividends Payable 12,500d. Apirl.15Dividends Payable 12,500Cash 12,500e. June 30Retained Earnings 37,500Common Stock 25,000Additional Paid-in Capital 12,500To record issuance of 10% stock dividend: 10%*25,000=2,500 shares;2500*$15=$37,500f. Dec. 31Depreciation Expense 14,000Accumulated Depreciation 14,000Original depreciation: $40,000/40=$10,000 per year. Book value on Jan.1, 2009 is $350,000(=$400,000-5*$10,000). Deprecation for 2009 is $14,000(=$350,000/25).g. The company does not need to make entry in the accounting records. But the amount of Common Stock ($10 par value) decreases 275,000, while the amount of Common Stock ($5 par value) increases 275,000.Chapter 71.Requirement 1If revenue is recognized at the date of delivery, the following journal entries would be used to record the transactions for the two years:Year 1Inventory .................................................................................... 480,000 Cash/Accounts payable ........................................................ 480,000 To record purchase of inventoryInventory .................................................................................... 124,000 Cash/Accounts payable ........................................................ 124,000 To record refurbishment of inventoryAccounts receivable ................................................................... 310,000 Sales revenue ...................................................................... 310,000 To record sale of goods on accountCost of goods sold...................................................................... 220,000 Inventory .............................................................................. 220,000 To record the cost of the goods sold as an expenseSales returns (I/S) ...................................................................... 15,500* Allowance for sales returns (B/S).......................................... 15,500 To record provision for return of goods sold under 30-day return period* 5% of $310,000Warranty expense ...................................................................... 31,000* Provision for warranties (B/S) ............................................... 31,000 To record provision, at time of sale, for warranty expenditures* 10% of $310,000Allowance for sales returns......................................................... 12,400 Accounts receivable ............................................................. 12,400 To record return of goods within 30-day return period.It is assumed the returned goods have no value and are disposed of.Provision for warranties (B/S) ..................................................... 18,600 Cash/Accounts payable ........................................................ 18,600 To record expenditures in year 1 for warranty workCash .......................................................................................... 297,600*Accounts receivable ............................................................. 297,600 To record collection of Accounts Receivable* $310,000 – $12,400Year 2Provision for warranties (B/S) ..................................................... 8,400 Cash/Accounts payable ........................................................ 8,400 To record expenditures in year 2 for warranty workRequirement 2If revenue is recognized only when the warranty period has expired, the following journal entries would be used to record the transactions for the two years:Year 1Inventory .................................................................................... 480,000 Cash/Accounts payable ........................................................ 480,000 To record purchase of inventoryInventory .................................................................................... 124,000 Cash/Accounts payable ........................................................ 124,000 To record refurbishment of inventoryAccounts receivable ................................................................... 310,000 Inventory .............................................................................. 220,000 Deferred gross margin .......................................................... 90,000 To record sale of goods on accountDeferred gross margin ................................................................ 12,400 Accounts receivable ............................................................. 12,400 To record return of goods within the 30-day return period. It is assumed the goods haveno value and are disposed of.Deferred warranty costs (B/S)..................................................... 18,600 Cash/Accounts payable ........................................................ 18,600 To record expenditures for warranty work in year 1. The warranty costs incurred are deferred because the related revenue has not yet been recognizedCash .......................................................................................... 297,600* Accounts receivable ............................................................. 297,600 To record collection of Accounts receivable* $310,000 – $12,400Year 2Deferred warranty costs ............................................................. 8,400 Cash/Accounts payable ........................................................ 8,400 To record warranty costs incurred in year 2 related to year 1 sales. The warranty costs incurred are deferred because the related revenue has not yet been recognized.Deferred gross margin ................................................................ **77,600Cost of goods sold...................................................................... 220,000 Sales revenue ...................................................................... 297,600* To record recognition of sales revenue from year 1 sales and related cost of goods sold at expiry of warranty period* $310,000 – $12,400** ($90,000 – $12,400)Warranty expense ...................................................................... 27,000* Deferred warranty costs ....................................................... 27,000 To record recognition of warranty expense at same time as related sales revenue recognition* $18,600 + $8,400Requirement 3Allied Auto Parts Inc. might choose to recognize revenue only after the warranty periodhas expired if they are not able to make a good estimate, at the time of sale, of the amount of warranty work that will be required under the terms of the one-year warranty. If Allied is not able, at the time of sale, to make a good estimate of the warranty work that will be required, then the measurability criterion of revenue recognition is not met at the time of sale. The measurability criterion means that the amount of revenue can be reliably measured. If the seller is not able to estimate the amount of work that will have to be done under the warranty agreement, then it is not able to reasonably measure the profit that it will eventually earn on the sales. The performance criteria might also be invoked here.The performance criterion means that the seller has transferred the significant risks and rewards of ownership to the buyer. As long as there is warranty work to be performed after the sale that is the responsibility of the seller, you might argue that performance is not substantially complete. However, if the seller was able to reliably estimate the amount of warranty work, then performance would be satisfied on the assumption that we could measure the risk that remains with the seller, and make a provision for it.2.Percentage-of-completion method:The first step in applying revenue recognition using the percentage-of-completion method (using costs incurred to date compared to estimated total costs to determine the percentage of completion) is to estimate the percentage of completion of the project at the end of each year. This is done in the following table (in $000s):End of 2005 End of 2006 End of 2007Total costs incurred $ 5,400 $ 12,950 $ 18,800 Total estimated costs 18,000 18,500 18,800 % completed 30% 70% 100%Once the percentage of completion at the end of each year has been calculated as above, the next step is to allocate the appropriate amount of revenue to each year, based on the percentage completed to date, less what has previously been recorded in revenue. This is done in the following table (in $000s):2005 2006 20072005 $20,000 × 30% $ 6,0002006 $20,000 × 70% $ 14,0002007 $20,000 × 100% $ 20,000 Less: Revenue recognized in prior years (0) (6,000) (14,000) Revenue for year $ 6,000 $ 8,000 $ 6,000Therefore, the profit to be recognized each year on the construction project would be:2005 2006 2007 TotalRevenue recognized $ 6,000 $ 8,000 $ 6,000 $ 20,000 Construction costs incurred (expenses) (5,400) (7,550) (5,850) (18,800) Gross profit for the year $ 600 $ 450 $ 150 $ 1,200The following journal entries are used to record the transactions under thepercentage-of-completion method of revenue recognition:2005 2006 20071. Costs of construction:Construction in progress................. 5,400 7,550 5,850 Cash, payables, etc. ..... 5,400 7,550 5,850 2. Progress billings:Accounts receivable ........... 3,100 4,900 12,000 Progress billings ........... 3,100 4,900 12,000 3. Collections on billings:Cash .................................. 2,400 4,000 12,400 Accounts receivable ..... 2,400 4,000 12,400 4. Recognition of profit:Construction in progress..... 600 450 150Construction expense ......... 5,400 7,550 5,850 Revenue from long-termcontract..................... 6,000 8,000 6,000 5. To close construction in progress:Progress billings ................. 20,000 Construction in progress 20,0002005 2006 2007Balance sheetCurrent assets:Accounts receivable $ 700 $ 1,600 $ 1,200 Inventory:Construction in process 6,000 14,000 Less: Progress billings (3,100) (8,000)Costs in excess of billings 2,900 6,000Income statementRevenue from long-term contracts $ 6,000 $ 8,000 $ 6,000 Construction expense (5,400) (7,550) (5,850) Gross profit $ 600 $ 450 $ 1503.a. The three criteria of revenue recognition are performance, measurability, andcollectibility.Performance means that the seller or service provider has performed the work.Depending on the nature of the product or service, performance may mean quitedifferent points of revenue recognition. For example, for the sale of products, IAS18 defines performance as the point when the seller of the goods has transferred therisks and rewards of ownership to the buyer. Normally, this means that performance is done at the time of sale. Although the seller may have performed much of the work prior to the sale (production, selling efforts, etc.), there is still significant risk to theseller that a buyer may not be found. Therefore, from a reliability point of view,revenue recognition is delayed until the point of sale. Also, there may be significant risks remaining with the seller of the product even after the sale. Warranties given by the seller are a risk that remains with the seller. However, if this risk can be reliably estimated at the time of sale, revenue can be recognized at the point of sale.Performance is quite different under a long-term construction contract. Here,performance really is considered to be a measure of the work done. Revenue isrecognized over the production period as the work is performed. It is intended toreflect the amount of effort expended by the seller (contractor). Although legal titlewon’t transfer to the buyer until the project is completed, revenue can be recognized because there is a known and committed buyer. If the contractor is not able toestimate how much of the work has been done (perhaps because he or she can’treliably estimate how much work must still be done), then profit would not berecognized until the extent of performance is known.Measurability means that the seller or service provider must be able to reliablyestimate the amount of the revenue from the sale or service. For the sale of products this is generally known at the time of sale (the sales price is set). However, if the seller provides a return period, it may be necessary to estimate the volume of returns at the time of sale in order to measure the revenue that will be recognized.Collectibility means that the seller or the service provider has reasonable assurance that the sales price will actually be collected. In most cases for the sales of products, the seller is able to recognize revenue at the time of sale even if the sale is on account.This is because the seller has experience with its customers and is able to estimate reliably the risk of non payment. As long as the seller is able to make this estimate, it is appropriate to recognize the revenue but to offset it with a provision for possible non collection. If the seller is unable to make reliable estimates of future collection ofamounts owing, the recognition of revenue would be delayed until the cash is actually received. This is what is done using the instalment sales method of revenuerecognition.b. Because of the performance criterion of revenue recognition, it would seem to bemost appropriate to recognize most revenue as the seller or service provider per forms the work. This would be the best measure of performance. This would mean, for example,that sellers of products would recognize their revenue over the whole production, selling, and post sales servicing periods. As we saw above, this is not commonly done because,in many cases, there are still significant risks that are retained by the seller (risk of not being able to sell the product, for example). There are also measurement risks (knowingthe selling price) that exist prior to the sale. The percentage-of-completion method of revenue used for some long-term construction contracts would seem to most closely recognize revenue as the work is performed. As mentioned in Part 1, we are able to recognize revenue on this basis since a contract exists which commits the purchaser tobuy the project (assuming certain conditions are met) and the sales price is known because of the existence of the contract.4.If all revenue is recognized when a student registers for the course, profit for 2007 would be:Sales Revenue1:Manuals and initial lessons (200 × $100) $ 20,000 Additional lessons ((200 × 8) × $30) 48,000 Examinations ((200 × 80%) × $130) 20,800 Total sales revenue 88,800Cost of sales:Manuals and initial lessons (200 × ($15 + $3)) 3,600 Additional lessons ((200 × 8) × $3)) 4,800Examinations ((200 × 80%) × $30) 4,800 Total cost of sales 13,200Depreciation of development costs:$180,000 × (200/1,000) 36,000Profit $ 39,6005.FINISH ENTERPRISESIncome Statementfor the year ending December 31, 2005Continuing operations (excluding the chemical division)Sales ($35,000,000 – $5,500,000) $ 29,500,000Cost of sales ($15,000,000 – $2,800,000) (12,200,000)Gross profit 17,300,000Selling & administration expenses($18,000,000 – $3,200,000) (14,800,000)Profit from operations 2,500,000Income tax expense (40%) 1,000,000Profit after tax $ 1,500,000Discontinuing operations (Chemical division)Sales 5,500,000Cost of sales (2,800,000)Gross profit 2,700,000Selling & administration expenses (3,200,000)Loss from operations (500,000)Income tax expense(40%) 200,000Loss after tax (300,000) Gain on discontinuance of the Chemical division 3,500,000Tax thereon (1,400,000)After-tax gain on discontinuance of the Chemical division 2,100,000 Enterprise net profit $ 3,300,000Chapter 81.Payment of account payable. operatingIssuance of preferred stock for cash. financingPayment of cash dividend. financingSale of long-term investment. investingAmortization of bond discount. no effectCollection of account receivable. operatingIssuance of long-term note payable to borrow cash. financing Depreciation of equipment. no effectPurchase of treasury stock. financingIssuance of common stock for cash. financingPurchase of long-term investment. investingPayment of wages to employees. operatingCollection of cash interest. investingCash sale of land. InvestingDistribution of stock dividend. no effectAcquisition of equipment by issuance of note payable. no effect Payment of long-term debt. financingAcquisition of building by issuance of common stock. no effect Accrual of salary expense. no effect2.(a) Cash received from customers = 816,000(b) Cash payments for purchases of merchandise. =468,000(c) Cash payments for operating expenses. = 268,200(d) Income taxes paid. =36,9003.Cash sales …………………………………………... $9,000 Payment of accounts payable ……………………….-48,000 Payment of income tax ………………………………-13,000 Payment of interest ……………………………..…..-16,000 Collection of accounts receivable ……………………93,000 Payment of salaries and wages ……………………….. -34,000 Cash flows from operating activitiesby the direct method -9,0004.Operating activities:Net loss -200,000 Add: loss on sale of land 250,000 Add: depreciation 300,000Add: amortization of patents 20,000Less: increases in current assets other than cash -750,000Add: increases in current liabilities 180,000Net cash flows from operating -200,000Investing activitiesSale of land -50,000Purchase of PPE -1,500,000Net cash flows from investing -1,550,000Financing activitiesIssuance of common shares 400,000Payment of cash dividend -50,000Issuance of non-current liabilities 1,000,000Net cash flows from financing 1,350,000 Net changes in cash -400,000 5.。
叶建芳会计英语中文版1-5[65页]
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封面作者：ZHANGJIAN仅供个人学习，勿做商业用途第一章会计总论学习目标：1.了解会计信息系统2.应用公认会计准则3.了解财务报表4.运用会计要素5.运用会计等式6.了解会计及其环境本章讨论不同的使用者对会计信息的需求，介绍不同实体对会计职业的影响、会计职业道德及职业行为准则。
本章也将对公认会计准则以及一些相关概念和原则进行解释。
本章将介绍会计等式：资产＝负债＋所有者权益，并逐一定义会计等式中的每个要素，举例分析不同业务对会计等式的影响。
同时，本章还将简单介绍财务报表。
1.1会计是一个信息系统我们通常把会计描述为一个信息系统。
作为一个信息系统，会计计量经济活动，将信息编制成财务报表，并将财务报表传达给决策者。
会计的范围包括：确认经济事项，进行计量、记录、汇总，并把信息报告给使用者。
会计所涵盖的范围要大于簿记。
图表1－1是信息在会计系统内的流转图。
簿记是对交易和事件的记录，只是会计的一部分。
会计还包括对会计信息的分析和阐述，以帮助财务报表的外部和内部的使用者制定各项经济决策。
个人独资企业是指由一个自然人投资拥有的企业组织。
个人独资企业是一个会计实体，但并不是法律实体个人独资企业的所有者对企业的债务承担无限责任，这也是个人独资企业的一个主要缺点。
合伙企业与个人独资企业的区别只在于它有两个或两个以上的所有者。
合伙企业的所有者被称为合伙人。
现实商业活动中有许多不同类型的合伙企业。
公司是依据当地法律注册成立的单独实体；公司的所有者被称为股东。
股东不对公司的债务负责。
有限责任是公司这种组织形式的一个显著优点。
公司的所有权被分为股份。
股份可以在所有者之间转让。
1.3编报财务报表的框架由于各个国家的法律和经济环境不同，各国有不同的会计模式。
在一个国家可行的会计实务在另一个国家并不一定可行。
由于各国的会计模式不同，所以我们需要制定一个互相协调的会计标准：用全球通用的会计语言来传达相关的且可靠的会计信息。
为满足上述需求，国际会计准则委员会（IASC）于1973年成立，并致力于国际公认的会计准则的制定。
会计英语(第4版)教学大纲和期末复习题目
Syllabus and review for final examIntroduction:This is an introductory course in financial accounting intended for students with no previous exposure to financial accounting. It aims at providing the necessary tools for students to read, understand, analyze and extract information from financial statements. The course adopts a user approach of accounting by emphasizing the relation between accounting data and the underlying economic events that generated them, and how this knowledge is helpful in decision-making.The course focuses initially on how to record economic events in the accounting records and how to prepare and interpret the primary financial statements (i.e., the balance sheet,the income statement, and the statement of cash flows).Main Course Objective:Provide tools to read, understand, and analyze financial statements.Question 1 costing method for inventory Stylish Jeans Company markets blue jeans and uses a perpetual inventory system to account for its merchandise. The beginning balance of the inventory and transactions during the year were as follows:January 1: Balance: 350 units at €52 eachMarch 12: Purchased 175 units at €61 each.May 21: Sold 260 units for a selling price of €112 each.July 8: Purchased 300 units at €73.October 31: Sold 320 units for a selling price of €112 each.Required1. Calculate cost of goods available for sale and units available for sale for the year.2. Calculate units remaining in ending inventory.3. Calculate the currency value of cost of goods sold and ending inventory usinga) FIFOb) Weighted averageRound to two decimal places.1.Beg. 350 units @ €52= €18,200Mar. 12 175 units @ 61 = 10,675July 8 300 units @ 73 = 21,900UnitsAvailable 825 units €50,775Cost of goods available for sale2. Units in ending inventory:Units available 825Less: Units sold 580Ending Inventory 2453.(b) Weighted-average perpetualQuestion 2 accounting for bad debtsBeleVu Supplies showed the following selected adjusted balances at itsDecember 31, 2011 year end:During the year 2012, the following selected transactions occurred:1. Sales totalled €2,960,000, of which 25% were cash sales (cost of sales€1,804,000).2. Sales returns were €114,000, half regarding credit sales. The returnedmerchandise was scrapped.3. An account for €24,000 was recovered.4. Several accounts were written off; €39,000.5. Collections from credit customers totalled €1,880,000 (excluding the recovery in(3) above).Requireda. Prepare the December 31, 2012 adjusting entry to estimate bad debts, assuming that uncollectible accounts are estimated to be 1% of net credit sales.b. Show how accounts receivable will appear on the December 31, 2012 statement offinancial position.c. What will bad debts expense be on the statement of comprehensive income for theyear ended December 31, 2012?d. Prepare the December 31, 2012 adjusting entry to estimate bad debts, assumingthat uncollectible accounts are estimated to be 3% of outstanding receivables.e. Show how accounts receivable will appear on the December 31, 2012 statement offinancial position.f. What will bad debt expense be on the statement of comprehensive income for theyear ended December 31, 2012?a. Dec. 31 Bad Debt Expense 21,630 Allowance for Doubtful Accounts 21,630 2,220,000 – 57,000 = 2,163,000 2,163,000 × 1% = 21,630b. Current assets: Accounts receivable € 742,000 Less: Allowance for doubtful accounts (23,310) € 718,690 ORCurrent assets: Accounts receivable (net of €23,310 estimated uncollectible accounts) € 718,690c.d. Dec.31 Bad Debt Expense ................................................... 20,580 Allowance for Doubtful Accounts .................... 20,580 742,000 × 3% = 22,260 – 1,680 = 20,580Calculations:× 3%€22,260e.Current assets:Accounts receivable €742,000Less: Allowance for doubtful accounts (22,260) €719,740 ORCurrent assets:Accounts receivable (net of €22,260estimated uncollectible accounts) €719,740f. €20,580Question 3 accounting for trading investmentExtel Company’s fair value through profit or loss investments as of December 31, 2011 are as follows:Cost MarketKlondike ordinary shares €11,250 €14,875Kaffner ordinary shares 56,070 55,950IDEA ordinary shares 12,400 10,800Western ordinary shares 35,400 30,220RequiredPart 1Prepare the journal entries to record the adjustments to fair value for the fair value through profit or loss investments as per the requirements of IAS 39.Part 2Illustrate how the fair value through profit or loss investments will be reported on the statement of financial position on December 31, 2011.Illustrate what effect your adjustments would have on the Statement of Comprehensive Income for the year ended December 31, 2011.Part 1Cost Market Difference Klondike ordinary shares €11,250€14,875€3,625Kaffner ordinary shares 56,070 55,950 (120)IDEA ordinary shares 12,400 10,800 (1,600) Western ordinary shares 35,400 30,220 (5,180)2011Dec. 31 FVPL investments — Klondike shares 3,625Unrealized gain on FVPL investments 3,625€14,875 –€11,250 = €3,62531 Unrealized loss on FVPL investments (120)FVPL investments — Kaffner shares (120)€55,950 –€56,070 = (€120)31 Unrealized loss on FVPL investments ...................................... 1,600FVPL investments — IDEA shares .................................... 1,600 €10,800 –€12,400 = (€1,600)31 Unrealized loss on FVPL investments ...................................... 5,180FVPL investments — Western shares ................................ 5,180 €30,220 –€35,400 = (€5,180)Part 2Statement of Financial Position:Current assets:Fair value through profit or loss investments .................................... €111,845 Total fair or market values = €14,875 + €55,950 + €10,800 + €30,220Statement of Comprehensive Income:Other Income and Expenses:Unrealized loss on fair value through profit or loss investments....... €3,275Net unrealized loss = €3,625 –€120 –€1,600 –€5,180 = (€3,275)Question 4 accounting for fixed assetsShield Corporation purchased a used machine for €282,000 on January 7, 2007. It was repaired the next day at a cost of €12,500 and installed on a new platform that cost €2,000. The company predicted that the machine would be used for six years and would then have a €16,200 residual value. Depreciation was to be charged on a straight-line basis. A full year’s depreciation was charged on December 31, 2007. On June 25, 2012 it was retired.Required1. Prepare journal entries to record the purchase of the machine, the cost of repairingit, and the installation. Assume that cash was paid.2. Prepare entries to record depreciation on the machine on December 31 of its firstyear and on September 30 in the year of its disposal. (Round calculations to the nearest whole dollar.)3. Prepare entries to record the retirement of the machine under each of thefollowing unrelated assumptions:a) It was sold for €42,000;b) It was sold for €32,000; andc) It was stolen and the insurance company paid €37,500 in ful l settlement of theloss claim.4. Explain the purpose of recording depreciation. If depreciation is not recorded, whatis the effect on the statement of comprehensive income and statement of financial position?Part 12007Jan. 7 Machine ........................................................ 282,000Cash .................................................... 282,000 To record purchase of machine.8 Machine ........................................................ 12,500Cash .................................................... 12,500 To record capital repairs on machine.8 Machine ........................................................ 2,000Cash .................................................... 2,000 To record installation of machine.Part 2Dec. 31 Depreciation Expense, Machine .................. 46,717Accumulated Depreciation, Machine ........................................................46,717To record depreciation;(296,500 – 16,200)/6 = 46,717. 2012June. 25 Depreciation Expense, Machine .................. 23,359Accumulated Depreciation, Machine ........................................................23,359To record partial year’s depreciation; 46,717 × 6/12 = 23,359.Part 3(a)25 Accumulated Depreciation, Machine 1 ......... 256,944 Cash .............................................................. 42,000Gain on Disposal 2............................... 2,444 Machine .............................................. 296,500Sold machine for €42,000.Part 3(b)25 Accumulated Depreciation, Machine ........... 256,944 Cash .............................................................. 32,000 Loss on Disposal 3 ......................................... 7,556Machine .............................................. 296,500Sold machine for €32,000.Part 3(c)25 Accumulated Depreciation, Machine256,944 Cash37,500 Loss on Disposal4 2,056Machine296,500 Received insurance settlement.Dep. for 2007, 2008, 2009, 2010, and 2011.Dep. for 2012.1 Accumulated depreciation = (46,717 × 5 years) + 23,359 = 256,9442Gain (Loss) = Cash Proceeds – Book Value= 42,000 – (296,500 – 256,944) = 2,4443 Gain (Loss) = Cash Proceeds – Book Value= 32,000 – (296,500 – 256,944) = (7,556)4 Gain (Loss) = Cash Proceeds – Book Value= 3,7500 – (296,500 – 256,944) = (2,056)Part 4Depreciation is the process of allocating the cost of property, plant, and equipment in a rational and systematic manner over the assets’ useful life. It is required by the expense recognition principle. If depreciation is not recorded, net income will be overstated on the statement of comprehensive income. On the statement of financial position, assets and equity will be overstated.Question 5 accounting for bonds payableApplet Inc. issued bonds on January 1, 2011, that pay interest semi-annually on June30 and December 31. The par value of the bonds is €80,000, the annual contract rateis 8%, and the bonds mature in 10 years.RequiredFor each of these three situations, (a) determine the issue price of the bonds, and (b) show the journal entry that would record the issuance, assuming the market interestrate at the date of issuance was1. 6%2. 8%3. 10%Part 1a.Par value 0.5537 €80,000€44,296Interest (annuity) 14.8775 3,200 47,608Total €91,904Premium € 11,904* The table values are based on a discount rate of 3% (half the annual market rate)and 20 periods/payments.b.2011Jan. 1 Cash......................................................................... 91,904Premium on Bonds Payable .............................. 11,904Bonds Payable ................................................... 80,000 Sold bonds on original issue date.Part 2a.Par value 0.4564 €80,000 €36,512 Interest (annuity) 13.5903 3,200 43,488 Total €80,000* The table values are based on a discount rate of 4% (half the annual market rate)and 20 periods/payments.b.2011Jan. 1 Cash......................................................................... 80,000Bonds Payable ................................................... 80,000 Sold bonds on original issue date.Part 3a.Par value 0.3769 €80,000€30,152Interest (annuity) 12.4622 3,200 39,879Total €70,031Discount €9,969* The table values are based on a discount rate of 5% (half the annual market rate)and 20 periods/payments.b.2011Jan. 1 Cash ......................................................................... 70,031Discount on Bonds Payable .................................. 9,969Bonds Payable ................................................... 80,000 Sold bonds on original issue date.Entry for period 6 interestDR interest expense 3585CR cash 3200CR discount 385Question 6 accounting for shareholders equityMajestic Inc. was authorized to issue 250,000 €1.00 noncumulative preference shares and an unlimited number of ordinary shares. During Majestic’s first month of operations, May 2011, the following selected transactions occurred:May 1 10,000 preference shares were issued at €15.00 for cash.May 5 9,000 of the ordinary shares were issued for a total of €9,000 cash.May 6 14,000 ordinary shares were issued in exchange for land valued at €30,000.The shares were actively trading on this date at €2.00 per share.May 26 The corpora tion’s promoters were given 14,000 ordinary shares for their services in organizing the corporation. The directors valued the services at€70,000.May 31 The Board of Directors declared and paid a total dividend of €12,000.May 31 The €120,000 credit balan ce in the Income Summary account was closed. May 31 The cash dividends declared were closed to retained earnings.Required1.Prepare the journal entries to record the above transactions.2.Prepare the shareholders’ equity section of the company’s statemen t offinancial position as of May 31, 2011.Part 2Majestic Inc.Partial Statement of Financial PositionMay 31, 2011Shareholders’ EquityContributed capital:Preferred shares, €1.00, non-cumulativeAuthorized: 250,000Issued and outstanding: 10,000 € 150,000 Ordinary sharesAuthorized: unlimitedIssued and outstanding: 37,000 107,000 Total contributed capital ............................ €257,000 Retained earnings ............................................... 108,000 Total shareholders’ equity .......................................... €365,000Question 7 the statement of cash flowHolliday Corp.’s statement of financial position and statement ofcomprehensive income are as follows:HOLLIDAY CORP.Comparative Statement of Financial Position InformationDecember 31Assets 2012 2011Cash ............................................................................ €150,850 €214,550 Accounts receivable ..................................................... 182,000 138,950 Merchandise inventory ................................................. 766,500 707,000 Prepaid expenses ........................................................ 15,050 17,500 Equipment .................................................................. 446,600 308,000 Accumulated depreciation ........................................ (96,950) (123,200) Total assets ................................................................. €1,464,050 €1,262,800Liabilities and Shareholder s’ EquityAccounts payable ......................................................... €246,750 €326,550 Short-term notes payable ............................................. 28,000 17,500 Long-term notes payable ............................................. 262,500 150,500 Ordinary shares ........................................................... 563,500 437,500 Retained earnings ........................................................ 363,300 330,750 Total liabilities and shareholders’ equity ...................... €1,464,050 €1,262,800HOLLIDAY CORP.Statement of Comprehensive Incomefor year ended December 31, 2012Sales ............................................................................ €1,389,500 Cost of goods sold ....................................................... 700,000 Gross profit .................................................................. €689,500 Operating expenses:Depreciation expense ............................................. €52,500Other expenses ...................................................... 382,200Total operating expenses ....................................... 434,700 Income from operations ............................................... €254,800 Loss on sale of equipment ........................................... 14,350 Income taxes ............................................................... 33,950Net income ................................................................... €206,500 Other information regarding Holliday Corp.:a. All sales are credit sales.b. All credits to accounts receivable in the period are receipts from customers.c. Purchases of merchandise are on credit.d. All debits to accounts payable in the period result from payments formerchandise.e. The other operating expenses are cash expenses.f. The only decrease in income taxes payable is for payment of taxes.g. The other expenses are paid in advance and are initially debited to Prepaidexpenses.Additional information regarding Holliday Corp.’s activities during 2012:h. Loss on sale of equipment is €14,350.i. Equipment costing €131,250,with accumulated depreciation of €78,750, issold for cash.j. Equipment costing €269,850is purchased by paying cash of €70,000 and signing a long-term note payable for the balance.k. Borrowed €10,500 by signing a short-term note payable.l. Paid €87,850 to reduce a long-term note payable.m. Issued 7,000 ordinary shares for cash at €18 per share.n. Declared and paid cash dividends of €173,950.HOLLIDAY CORP.Statement of Cash FlowsNote A:The company purchased equipment for €269,850 by signing a €199,850 long-term note payable and paying €70,000 in cash.Note 2 retained earnings330,750+ profit 206,500 - 173,950(n) = 363,300Name______________ Student Number___________________HOLLIDAY CORP.Statement of Cash Flows。
会计英语(第四版)(叶建芳)05
On July 15, Play Clothes pays the full amount due to Kid’s Clothes.
Prepare the journal entry for Play Clothes.
credit terms are stated in the invoice.
2/10, n/30
Read as: “Two ten, net thirty”
YE SUN AccountingEnglish
18
Credit Terms and Cash Discounts
2/10, n/30
Percentage of Discount
• Record discount when taken.
• Net of discount
• Charge discounts not taken when paid.
YE SUN AccountingEnglish
11
Terminology
Purchase = receipt of merchandise not to placing of a purchase order.
• Tangible items that will be consumed in the course of normal operations.
• e.g., office supplies, lubricants, repair parts.
• Not sold and not accounted for as part of cost of goods sold.
• 3 types of inventories;
• Materials. • Work-in-process. • Finished goods.
（完整版）09《会计英语》期末复习资料v
（完整版）09《会计英语》期末复习资料v09《会计英语》期末复习资料I. Useful Phrases （短语）1.Trading securities交易性金融资产2.Notes/accounts receivable 应收票据/帐款3.Provision for bad debts 坏帐准备4.Advances to suppliers 预付帐款5.Prepaid expenses 待摊费用6.Accrued expenses 预提费用7.Accrued payroll 应付工资8.Dividends payable 应付股利9.Provision for loss on realization of inventory 存货变现损失准备10.Available-for-sale securities 可供出售的金融资产11.Hold-to-maturity securities 持有至到期投资12.Long-term investment in equity 长期股权投资13.Long-term investment maturing within one year 一年内到期的长期投资14.Receivables collectible after one year 一年以上应收款项15.Fixed assets - cost 固定资产原价16.Fixed assets – net book value 固定资产净值17.Fixed assets – pending disposal 固定资产清理18.Accumulated depreciation 累计折旧19.Construction in progress 在建工程20.Intangible assets 无形资产21.Proprietary technology and patents 工业产权及专有技术22.Deferred tax assets 递延所得税资产23.Current liabilities 流动债务24.Provisions for foreseeable liabilities 预计负债准备25.Premium/discount on debentures payable 应付公司债券溢价/折价26.Deferred tax liabilities 递延所得税负债27.Paid-in capital 实收资本28.Capital/Earnings surplus 资本/盈余公积29.Undistributed profits 末分配利润30.Accumulated losses 累计亏损31.Profit and loss account利润表32.Sales discounts and allowances销售折扣与折让33.Impairment losses of assets 资产减值损失34.Gain/loss on changes in fair value 公允价值变动收益/损失35.Operating profit/loss 营业利润/亏损36.Non-operating income/expenses 营业外收入/支出 profit/loss after tax 税后净利润/亏损38.Earnings per share (EPS) 每股收益39.Basic/diluted EPS 基本/稀释每股收益II. Abbreviations （缩略语）1.GAAP : Generally Accepted Accounting Principles .公认会计原则2.FASB : Financial Accounting Standards Board. 财务会计准则委员会3.AICPA: American Institute of Certified Public Accountants. 美国注册会计师协会4.CICPA : Chinese Institute of Certified Public Accountants. 中国注册会计师协会5.MOF : the Ministry of Finance财政部6.SL Method : straight-line method. 直线法P.252/77.ROA : return on assets.资产报酬率P.267/78.EPS : earning per share.每股收益P.351/99.P/E Ratio : the price/earning ration 市盈率10.SCF : the statement of cash flows 现金流量表III. Questions （回答问题）Lesson 1 --- Home Assignments1.What are the four financial statements prepared by a proprietorship toprovide information for decision making?√They are: income statement (profit and loss account), statement of owner’s equity (capital statement, statement of retained earnings), balance sheet and cash flow statement.2.What is the proper formula presentation of the accounting equation? √Assets = Liabilities + [owner’s equity + (Revenue –Expenses)]3.What are the four key ethical standards that are expected of professionalaccountants?They are: integrity, confidentiality, competence, and objectivity.Exercise 1 - 2: p.2Foreman Corporation, engaged in a service business, completed the following selected transactions during the period: √1)Issued additional capital stock, receiving cash;2)Purchased supplies on account;3)Returned defective supplies purchased on account and not yet paid for;4)Received cash as a refund from the erroneous overpayment of anexpense;5)Charged customers for services sold on account;6)Paid utilities expense;7)Paid a creditor on account;8)Received cash on account from charge customers;9)Paid cash dividends to stockholders;10)Determined the amount of supplies used during the month.Using a tabular form with column headings entitled Transactions, Assets, Liabilities, and Capital respectively, indicate the effect of each transaction. Use + for increase and – for the decrease.Lesson 2 --- Home Assignments1.Does debit always mean increase and credit always mean decrease? √No, it does not. And debit or credit should not be confused with increase or decrease. It depends on which side of an account is used for debit or credit.2.Given that assets have economic value and that they have debit balances,why do expenses also have debit balances?√Because expenses have the effect of decreasing capital, and just as decreases in capital are recorded as debit, increases in expense accounts are recorded as debits. Lesson 3---Home Assignments1.Briefly explain the matching principle.√The matching principle states that expenses should be deducted (matched against) from the revenues earned in the same period.2.Why is an unearned revenue a liability?√Unearned revenue is a liability because the business owes the customer a good or service.Lesson 7---Home Assignments1.What do determinable current liabilities include? P.291 √They include trade accounts payable, current notes payable, current maturities of long-term obligations, cash dividends payable, accrued liabilities, and prepayments or deposits from customers.2.What does non-current liabilities represent? P.306√It represents obligations of the firm that generally are due more than one year after the balance sheet date.Lesson 8---Home Assignments1.What determines the yield rate of a company’s stock?√Dividends per share divided by market price per share determine the yield rate ofa company‘s stock.2.What is P/E ratio?√The Price/Earning (P/E) ratio is the ratio of the market price per share to earnings per share.Lesson 9---Home Assignments1.What are the three categories into which the SCF should beclassified?They are a) cash flow from operating activities, b) cash flow from investing activities, cash flow from financing activities.2.What is the usefulness of the SCF?√From SCF, the information users can know the reasons for the difference between net income and net cash flows from operating activities.IV. E-C Translation （英汉语篇翻译）1.Preparing a Trial BalanceAccountants usually complete the posting of journal entries to the ledger accounts at the end of each month if they are using a manual system. With a computerized system, each posting is done automatically as each journal entry is recorded. The equality of debits and credits in the ledger should be verified at the end of each accounting period. To verify the accuracy of the recording process, accountants prepare a trial balance of the ledger accounts.A trial balance not only provides a check on the equality of debits and credits but also is a useful summary of account balances for preparing financial statements.[参考译文] 编制试算表若使用的是手工录入系统的话，会计师通常是在每个月的月底完成日记帐到分类帐的过帐工作；若是用计算机系统的话，则每次过帐均在完成每笔日记帐的同时就自动完成了。
会计英语 章 叶建芳and孙红星
1.1 会计是一个信息系统
我们通常把会计描述为一个信息系统。作为一个信息系统，会计计量经济活动，将信息编制成财 务报表，并将财务报表传达给决策者。会计的范围包括：确认经济，进行计量记录汇总，把信息报告 给使用者。会计所涵盖的范围要大于簿记。表 1－1 是信息在会计系统内的流转图。簿记是对交易和 事件的记录，只是会计的一部分。会计还包括对会计信息的分析和阐述外部和内部的经济决策。
筑物和机器等。无形资产包括专利权，商标权和版权等。 资产的来源有两种一种是负债，另一种是所有者权益。IASB 框架对负债的定义如下： 负债是由过去的交易或事项形成的，预期会导致经济利益流出企业的，通过转移资产或向其他企
业提供服务等实现的义务。 负债包括应付账款，应付票据，应付工资，应付税款，应付利息和应付债券。 权益（独资企业的所有者权益，合伙企业的合伙人权益，及公司的股东权益）是剩余权益。IASB
4
收入： 咨询收入 租金收入 总收入
营业费用： 租金费用 工资费用 营业费用总额
净利润
Amy Schneider 会计师事务所 利润表
年 12 月 31 日
$3,800 300
$1,000 700
$4,100
1,700 $2,400
接下来，利润表中的数据编制所有者权益变动表。 Amy Schneider 会计师事务所 所有者权益变动表 年 12 月 31 日
充分披露原则 财务报表（包括报表附注）必须报告所有与企业经营成果和财务状况相关 的信息。
一致性原则
同一企业在不同的会计期间应采用同样的会计方法，以使各期的财务报表 具有可比性。
重要性原则
对报表使用者而言，如果某金额对财务报表的影响不重要，则这个金额可 以被忽略。又称为成本效益约束。
会计英语 第四版 叶建芳05
YE SUN AccountingEnglish
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Inventories Definition
Asset items held for sale in the ordinary course of business or goods that will be used or consumed in the production of goods to be sold.
May have materials inventories.
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Types of Companies/Inventories (Cont.)vice firms (accounting firms, legal firms)
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Account for the purchase
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Credit Terms and Cash Discounts
When manufacturers and wholesalers sell their products on account, the credit terms are stated in the invoice.
Net of discount
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Terminology
Purchase = receipt of merchandise not to placing of a purchase order.
Usually title transfers when goods are shipped (FOB shipping point).
会计英语概述
2019/2/13
Decision Making
Economic Events
Reports
Exhibit 1-1
Financial statements report accounting information about resources, earning prospects, expected cash collections, incurred expenses, repayment ability, tax collection and negotiating wage agreements.
1、transaction n.交易；处理 Related transactions 关联交易 Transactions cost 交易成本 Business transactions 经济业务；商业交易 2、accounts n.帐目；会计账户；会计账簿 Accounts manager 会计部经理 Accounts receivables 应收账款 Accounts payable应付账款 Accounts department 会计部 3、Statements n.报告；报表 Accounting statement 会计报表=financial statement=statements Financial statements analysis 财务报表分析 Combination statements 汇总报表；合并报表 Suppliers statements 供应商对账单
【 LESSON 】
Recording Transactions
【 LESSON 】
Adjusting the Accounts, Preparing the Statements, and Completing the Accounting Cycle
会计英语叶建芳第四版课后题
会计英语叶建芳第四版课后题以下为您提供 20 个关于会计英语的示例，包含英语释义、短语、单词、用法和双语例句：1. **Asset**- 英语释义：Something valuable that a business or person owns, such as property, equipment, or money owed to them.- 短语：Fixed asset（固定资产）；Current asset（流动资产）- 单词用法：Assets are recorded on the balance sheet.- 双语例句：The company's assets include land and buildings.（公司的资产包括土地和建筑物。
）2. **Liability**- 英语释义：A debt or obligation that a business or person owes.- 短语：Long-term liability（长期负债）；Current liability（流动负债）- 单词用法：Liabilities must be paid in the future.- 双语例句：The company has a large liability for outstanding loans.（公司有大量未偿还贷款的负债。
）3. **Revenue**- 英语释义：The income that a business receives from its normal activities, such as selling goods or services.- 短语：Operating revenue（营业收入）；Non-operating revenue （非营业收入）- 单词用法：Revenue increased significantly this year.- 双语例句：The company's revenue comes mainly from product sales.（公司的收入主要来自产品销售。
会计英语 第四版 叶建芳04
protect assets against theft or misuse
promote operational efficiencies encourage adherence to prescribed managerial policies
YE SUN AccountingEnglish 9
Cash not needed for business purposes should be distributed to the company’s stockholders.
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Internal control
Internal control procedures are designed to:
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The Bank Reconciliation
1
2
What are two records of a business’s cash? Cash account in the business’s own general ledger. The bank statement which tells the actual amount of cash the business has in the bank.
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Internal Control
Operational Controls Financial Reporting Controls
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Cash defined
Liquidity refers to how readily an asset can be converted into other types of assets or can be used to buy services or satisfy obligations. Cash is a current asset that includes currency, coin, money orders received from customers, amounts held in the form of demand deposits, savings accounts, and certificates of deposit.
会计英语 第四版
The accounting
process
Economic activities
Accounting is an information system.
Accounting thinks decision makers with economic activities and with the
results of their decisions.
Users of accounting information
Primary users – investors and creditors
External users & Internal users
External users are users outside of the entity examples: banks, government, creditors, unions
Types of accountants
There are three basic types of accountants:
Private accountants work for a single employer.
Public accountants are available to the public.
(revenue and gains) less expenses (including losses).
The statement of changes in equity reconciles changes in equity (increases are caused by owner investments and net income, while decreases result from owner withdrawals and net losses for sole proprietorship ).
叶建芳会计英语中文
第一章会计总论学习目标：1.了解会计信息系统2.应用公认会计准则3.了解财务报表4.运用会计要素5.运用会计等式6.了解会计及其环境本章讨论不同的使用者对会计信息的需求，介绍不同实体对会计职业的影响、会计职业道德及职业行为准则。
本章也将对公认会计准则以及一些相关概念和原则进行解释。
本章将介绍会计等式：资产＝负债＋所有者权益，并逐一定义会计等式中的每个要素，举例分析不同业务对会计等式的影响。
同时，本章还将简单介绍财务报表。
1.1会计是一个信息系统我们通常把会计描述为一个信息系统。
作为一个信息系统，会计计量经济活动，将信息编制成财务报表，并将财务报表传达给决策者。
会计的范围包括：确认经济事项，进行计量、记录、汇总，并把信息报告给使用者。
会计所涵盖的范围要大于簿记。
图表1－1是信息在会计系统内的流转图。
簿记是对交易和事件的记录，只是会计的一部分。
会计还包括对会计信息的分析和阐述，以帮助财务报表的外部和内部的使用者制定各项经济决策。
使用会计信息。
1.2组织形式企业有三种组织形式：个人独资企业是指由一个自然人投资拥有的企业组织。
个人独资企业是一个会计实体，但并不是法律实体个人独资企业的所有者对企业的债务承担无限责任，这也是个人独资企业的一个主要缺点。
合伙企业与个人独资企业的区别只在于它有两个或两个以上的所有者。
合伙企业的所有者被称为合伙人。
现实商业活动中有许多不同类型的合伙企业。
公司是依据当地法律注册成立的单独实体；公司的所有者被称为股东。
股东不对公司的债务负责。
有限责任是公司这种组织形式的一个显着优点。
公司的所有权被分为股份。
股份可以在所有者之间转让。
1.3编报财务报表的框架由于各个国家的法律和经济环境不同，各国有不同的会计模式。
在一个国家可行的会计实务在另一个国家并不一定可行。
由于各国的会计模式不同，所以我们需要制定一个互相协调的会计标准：用全球通用的会计语言来传达相关的且可靠的会计信息。
为满足上述需求，国际会计准则委员会（IASC）于1973年成立，并致力于国际公认的会计准则的制定。
叶建芳会计英语中文版1-5
第一章会计总论学习目标：1.了解会计信息系统2.应用公认会计准则3.了解财务报表4.运用会计要素5.运用会计等式6.了解会计及其环境本章讨论不同的使用者对会计信息的需求，介绍不同实体对会计职业的影响、会计职业道德及职业行为准则。
本章也将对公认会计准则以及一些相关概念和原则进行解释。
本章将介绍会计等式：资产＝负债＋所有者权益，并逐一定义会计等式中的每个要素，举例分析不同业务对会计等式的影响。
同时，本章还将简单介绍财务报表。
1.1会计是一个信息系统我们通常把会计描述为一个信息系统。
作为一个信息系统，会计计量经济活动，将信息编制成财务报表，并将财务报表传达给决策者。
会计的范围包括：确认经济事项，进行计量、记录、汇总，并把信息报告给使用者。
会计所涵盖的范围要大于簿记。
图表1－1是信息在会计系统内的流转图。
簿记是对交易和事件的记录，只是会计的一部分。
会计还包括对会计信息的分析和阐述，以帮助财务报表的外部和内部的使用者制定各项经济决策。
图表1-1 会计信息流转会计信息使用者主要是投资者和债权人，政府，工会，普通公众也会使用会计信息。
1.2组织形式企业有三种组织形式：个人独资企业是指由一个自然人投资拥有的企业组织。
个人独资企业是一个会计实体，但并不是法律实体个人独资企业的所有者对企业的债务承担无限责任，这也是个人独资企业的一个主要缺点。
合伙企业与个人独资企业的区别只在于它有两个或两个以上的所有者。
合伙企业的所有者被称为合伙人。
现实商业活动中有许多不同类型的合伙企业。
公司是依据当地法律注册成立的单独实体；公司的所有者被称为股东。
股东不对公司的债务负责。
有限责任是公司这种组织形式的一个显著优点。
公司的所有权被分为股份。
股份可以在所有者之间转让。
1.3编报财务报表的框架由于各个国家的法律和经济环境不同，各国有不同的会计模式。
在一个国家可行的会计实务在另一个国家并不一定可行。
由于各国的会计模式不同，所以我们需要制定一个互相协调的会计标准：用全球通用的会计语言来传达相关的且可靠的会计信息。
叶建芳会计英语中文
第一章会计总论学习目标：1.了解会计信息系统2.应用公认会计准则3.了解财务报表4.运用会计要素5.运用会计等式6.了解会计及其环境本章讨论不同的使用者对会计信息的需求，介绍不同实体对会计职业的影响、会计职业道德及职业行为准则。
本章也将对公认会计准则以及一些相关概念和原则进行解释。
本章将介绍会计等式：资产＝负债＋所有者权益，并逐一定义会计等式中的每个要素，举例分析不同业务对会计等式的影响。
同时，本章还将简单介绍财务报表。
1.1会计是一个信息系统我们通常把会计描述为一个信息系统。
作为一个信息系统，会计计量经济活动，将信息编制成财务报表，并将财务报表传达给决策者。
会计的范围包括：确认经济事项，进行计量、记录、汇总，并把信息报告给使用者。
会计所涵盖的范围要大于簿记。
图表1－1是信息在会计系统内的流转图。
簿记是对交易和事件的记录，只是会计的一部分。
会计还包括对会计信息的分析和阐述，以帮助财务报表的外部和内部的使用者制定各项经济决策。
企业有三种组织形式：个人独资企业是指由一个自然人投资拥有的企业组织。
个人独资企业是一个会计实体，但并不是法律实体个人独资企业的所有者对企业的债务承担无限责任，这也是个人独资企业的一个主要缺点。
合伙企业与个人独资企业的区别只在于它有两个或两个以上的所有者。
合伙企业的所有者被称为合伙人。
现实商业活动中有许多不同类型的合伙企业。
公司是依据当地法律注册成立的单独实体；公司的所有者被称为股东。
股东不对公司的债务负责。
有限责任是公司这种组织形式的一个显着优点。
公司的所有权被分为股份。
股份可以在所有者之间转让。
1.3编报财务报表的框架由于各个国家的法律和经济环境不同，各国有不同的会计模式。
在一个国家可行的会计实务在另一个国家并不一定可行。
由于各国的会计模式不同，所以我们需要制定一个互相协调的会计标准：用全球通用的会计语言来传达相关的且可靠的会计信息。
为满足上述需求，国际会计准则委员会（IASC）于1973年成立，并致力于国际公认的会计准则的制定。
《会计英语第四版》课件单元9
Market Value Earnings per share P/E
2012 200 42 4.8
2013 250 47 5.3
9.15 Liquidity Ratios
• (4) The ability to analyze and question the information given. The figures in the financial statements should rarely be taken at face value;
• (5)An appreciation of the type of business undertaken by the company and an awareness of internal and external factors which may affect the business;
• (6)The ability to communicate information in a clear and concise manner in the form of written reports or business letters, or orally in meetings.
9.2 Ratio Analysis
• These are usually expresso comment on the profit and loss account figures.
9.7 Return on Capital Employed (ROCE) or Return on Net Assets (RONA)
• The users of financial statements will analyze and appraise the statements by examining the figures and making comparisons with:
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Company Name Statement of Cash Flows Period Covered Cash flows from operating activities: [List of individual inflows and outflows] Net cash provided (used) by operating activities
Direct Method Cash Paid for Merchandise
How much did Lug Lite pay for inventory in 1999?
Inventory, 1/1/99 Inventory, 12/31/99 COGS, 12/31/99 $ 130,000 $ 165,000 $ 900,000 A/P, 1/1/99 A/P, 12/31/99 $ 23,000 $ 35,000
_
Cash Flows from Financing Activities
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Cash and Cash Equivalents
Cash Equivalents
Cash
Currency
Short-term, highly liquid investments. Readily convertible into cash. So near maturity that market value is unaffected by interest rate changes.
Acquire plant assets. Purchase debt or equity investments. Make loans.
_
Cash Flows from Investing Activities
YE SUN AccountingEnglish
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Financing Activities
YE SUN AccountingEnglish 2
Company Name Statement of Cash Flows Period Covered Cash flows from operating activities: [List of individual inflows and outflows] Net cash provided (used) by operating activities Cash flows from investing activities: [List of individual inflows and outflows] Net cash provided (used) by investing activities Cash flows from financing activities: [List of individual inflows and outflows] Net cash provided (used) by financing activities Net increase (decrease) in Cash
Dividends Dividends = Received Revenue
{
+ Decrease in dividends receivable - Increase in dividends receivable
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YE SUN AccountingEnglish
Direct Method Cash Paid for Merchandise Step 1
$ #####
Cash flows from investing activities: The operating cash flows [List of individual inflows and outflows] section can be prepared either the direct Net cash provided (used) byusing investing activities ##### Cash flows from SUN AccountingEnglish [List of individual inflowsYEand outflows]
$ #####
#####
##### $ #####
Cash (and equivalents) balance at beginning of period ##### Cash (and equivalents) balance at end of period $ #####
YE SUN AccountingEnglish 3
Classification of Cash Flows The Statement of Cash Flows must include the following three sections: Cash Flows from Operating Activities Cash Flows from Investing Activities Cash Flows from Financing Activities
+
Revenue, Accrual basis $800,000
Decrease in receivables
=
Revenue, Cash basis
–
Increase in receivables
=
12
YE SUN AccountingEnglish
Direct Method Cash Received from Customers The A/R balance was $40,000 on 1/1/99 and $52,000 on 12/31/99. If accrual sales revenue for 1999 was $800,000, what was cash basis revenue?
YE SUN AccountingEnglish 14
Direct Method Interest and Dividends Received
Interest Received Interest = Revenue
{
+ Decrease in interest receivable - Increase in interest receivable
+
Revenue, Accrual basis$800,000
Decrease in receivables
=
Revenue, Cash basis $788,000
–
$12,000 Increase in receivables
=
13
YE SUN AccountingEnglish
Now that we understand the process, let’s look at some simplified formulas for computing direct method cash flows.
Ability to generate positive cash flows. Ability to meet its obligations and to pay dividends. Need for external financing. Investing and financing transactions for the period.
Direct Method Cash Received from Customers
Accrual basis revenue includes sales that did not result in cash inflows. Can be computed as: +
Decrease in receivables
=
Revenue, Cash basis
Revenue, Accrual basis
–
பைடு நூலகம்
Increase in receivables
=
11
YE SUN AccountingEnglish
Direct Method Cash Received from Customers The A/R balance was $40,000 on 1/1/99 and $52,000 on 12/31/99. If accrual sales revenue for 1999 was $800,000, what was cash basis revenue?
YE SUN AccountingEnglish
4
Operating Activities
Inflows from:
Sales to customers. Interest and dividends received.
Outflows to:
Suppliers of merchandise and services. Employees. Lenders for interest. Governments for taxes.
method or the indirect financing activities: method.
9
Let’s look at the Direct Method for preparing the Statement of Cash Flows.
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Investing Activities