财务会计英语.ppt
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财务会计英语ch1.ppt
legal entity.
J & M, Inc.
Advantages • The ability to obtain large
amounts of resources by issuing stocks • Limited liability for the owners
Disadvantages
Limitation on Life of Entity
Proprietorship Yes
Corporation No
Partnership
Yes
LLC
Yes
Comparison of Alternate Entity Characteristics
Ease of Raising Capital
Taxation
Proprietorship Corporation Partnership LLC
Nontaxable entity Taxable entity Nontaxable entity Nontaxable entity by election
Comparison of Alternate Entity Characteristics
Withdrawals by the owner are recorded in the owner’s drawing account.
Equity Reporting for Alternative Entity Forms
Proprietorships
Greene Landscapes
Statement of Owner’s Equity
LLC provides limited liability for the members. LLCs must file “articles of organization” with
J & M, Inc.
Advantages • The ability to obtain large
amounts of resources by issuing stocks • Limited liability for the owners
Disadvantages
Limitation on Life of Entity
Proprietorship Yes
Corporation No
Partnership
Yes
LLC
Yes
Comparison of Alternate Entity Characteristics
Ease of Raising Capital
Taxation
Proprietorship Corporation Partnership LLC
Nontaxable entity Taxable entity Nontaxable entity Nontaxable entity by election
Comparison of Alternate Entity Characteristics
Withdrawals by the owner are recorded in the owner’s drawing account.
Equity Reporting for Alternative Entity Forms
Proprietorships
Greene Landscapes
Statement of Owner’s Equity
LLC provides limited liability for the members. LLCs must file “articles of organization” with
英文版财务会计PPT 1
– Cash – Accounts receivable – Merchandise inventory – Furniture – Land
Copyright © 2007 Prentice-Hall. All rights reserved
19
Claims to the Assets
• Liabilities – economic obligations payable to an individual or organization outside the business
13
Reliability (Objectivity) Principle
• Accounting information is based on the most reliable data available
– Verifiable – Free from bias – Individuals would arrive at similar conclusions
– Formulated by Financial Accounting Standards Board (FASB)
Copyright © 2007 Prentice-Hall. All rights reserved
11
GAAP
• Primary objective of financial accounting – provide information that is useful for making investment and lending decisions
Copyright © 2007 Prentice-Hall. All rights reserved
12
Copyright © 2007 Prentice-Hall. All rights reserved
19
Claims to the Assets
• Liabilities – economic obligations payable to an individual or organization outside the business
13
Reliability (Objectivity) Principle
• Accounting information is based on the most reliable data available
– Verifiable – Free from bias – Individuals would arrive at similar conclusions
– Formulated by Financial Accounting Standards Board (FASB)
Copyright © 2007 Prentice-Hall. All rights reserved
11
GAAP
• Primary objective of financial accounting – provide information that is useful for making investment and lending decisions
Copyright © 2007 Prentice-Hall. All rights reserved
12
(推荐)《财务会计英语》PPT课件
A long position involves inflows greater than outflows in a currency and a short position involved outflows greater than inflows. 多头是一种货币的流入大于流出，而空头指一种货币的流出大于 流入。
Finance Vocabulary——常用金融词汇
A.T.M.
AutomatedTellerMachi ne; cashdispenser
Banknote
Piece of paper money
Legal tender
Loan Donate
Currency that cannot legally be refused as payment
Money paid for borrowing or investing money
Written order to a bank to pay the stated amount from one's account
Sum of money to be returned with interest
5
If you go short and the futures price goes up, you lose money. 如果你卖空而期货价格上升，你就赔钱。
Futures is one of the types of financial futures. 外汇期货是金融期货的一种。
The futures price is not constant until the contract expires. 直到其期货合约到期之前，期货价格才稳定。
Futures markets provide a current consensus of knowledgeable opinions about the future price of commodities or financial instruments. 期货市场提供了 对商品或金融工具未来价格综合信息所作出的市场判断。
Finance Vocabulary——常用金融词汇
A.T.M.
AutomatedTellerMachi ne; cashdispenser
Banknote
Piece of paper money
Legal tender
Loan Donate
Currency that cannot legally be refused as payment
Money paid for borrowing or investing money
Written order to a bank to pay the stated amount from one's account
Sum of money to be returned with interest
5
If you go short and the futures price goes up, you lose money. 如果你卖空而期货价格上升，你就赔钱。
Futures is one of the types of financial futures. 外汇期货是金融期货的一种。
The futures price is not constant until the contract expires. 直到其期货合约到期之前，期货价格才稳定。
Futures markets provide a current consensus of knowledgeable opinions about the future price of commodities or financial instruments. 期货市场提供了 对商品或金融工具未来价格综合信息所作出的市场判断。
财务会计英文版 11 PPT
Accounting, 5/E
GUOWEI HUST11 - 14
15Salary Expense 10,000 Employee Income Tax Payable FICA Tax Payable Employee Union Dues Payable Salary Payable To record salary expense
Accounting, 5/E
GUOWEI HUST11 - 21
22
Estimated Vacation Pay Liability Example
Suppose Lloyd’s Sporting Store has a March payroll of $10,000 and vacation pay adds 4% (2 weeks of annual vacation divided by 50 workweeks each year). How much vacation pay should be accrued?
10,000
Accounting, 5/E
GUOWEI HUST11 - 10
11
Short-Term Notes Payable Issued at a Discount
Shanitha Balance Sheet Current liabilities: Note payable, short-term $10,000 Less: Discount on note payable 300 Note payable, short-term, net $ 9,700
Accounting, 5/E
GUOWEI HUST11 - 13
14
Accrued Expenses (Liabilities)...
会计专业英语PPT
Management accounting (next page)
Management accounting:
use both historical data in assisting management daily operations and in planning future operations.
concepts one more time. • Combine both freely but English is more
important.
二 Improve English by ….
– Read textbook in class and after class – Remember new words – Answer questions in exercise is important – Overlook some parts while emphasizing some
• Financial accounting: provides external reports o outsiders, financial information.
2 Reporting management information to internal users
Internal users are senior management-level personnel.
• What do you think?
二 Functions
1 Reporting financial information to outside interested users
• Outside users are:investors,banks and other creditors,government agencies,general publics
Management accounting:
use both historical data in assisting management daily operations and in planning future operations.
concepts one more time. • Combine both freely but English is more
important.
二 Improve English by ….
– Read textbook in class and after class – Remember new words – Answer questions in exercise is important – Overlook some parts while emphasizing some
• Financial accounting: provides external reports o outsiders, financial information.
2 Reporting management information to internal users
Internal users are senior management-level personnel.
• What do you think?
二 Functions
1 Reporting financial information to outside interested users
• Outside users are:investors,banks and other creditors,government agencies,general publics
财务会计英语专项培训PPT公开课(90页)
2. Describe and illustrate the equity reporting for proprietorships, corporations, partnerships, and limited liability corporations.
3. Describe and illustrate the accounting for forming a partnership.
Disadvantages • Difficulty in raising
large amounts of capital • Unlimited liability
Alternative Forms of Business Entities
A corporation is organized under state or federal statutes as a separate
Alternative Forms of Business Entities
A proprietorship is owned by one individual.
Advantages
• Ease in organizing • Low cost of
organizing
Joe’s
Review of Chapter 1
Chapter 13
Partnerships and Limited Liability Corporations
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
3. Describe and illustrate the accounting for forming a partnership.
Disadvantages • Difficulty in raising
large amounts of capital • Unlimited liability
Alternative Forms of Business Entities
A corporation is organized under state or federal statutes as a separate
Alternative Forms of Business Entities
A proprietorship is owned by one individual.
Advantages
• Ease in organizing • Low cost of
organizing
Joe’s
Review of Chapter 1
Chapter 13
Partnerships and Limited Liability Corporations
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
财务会计英语.ppt
1-5
Main knowledge
This chapter begins our study of accounting. It has three goals: (1) To describe what accounting is (2) To explore why it is useful (3) To introduce three dimensions critical to
understanding and using accounting: economic concepts accounting conventions institutional context
1-6
Main knowledge
We begin by defining accounting. We then explore accounting by introducing its basic
1-22
1.1.2 Financial Statements
Balance Sheet Income Statement Statement of Cash Flows Statement of Changes in Shareholders’
Equity Statement of Retained Earnings
by considering accounting information are presented and discussed.
1-7
Main knowledge
Finally, we present the foundation of the framework of economic concepts, accounting conventions, and institutional context on which we base future chapters.
Module 2 财务会计入门英文版 PPT 21
LO 3: Journalising
Journalizing – Simple journal entries.
On September 1, stockholders invested $15,000 cash in exchange for ordinary shares, and Softbyte purchased computer equipment for $7,000 cash.
Record of increases and decreases in a specific asset, liability, equity, income, or expense item.
Account Name
Debit / Dr.
Credit / Cr.
Debit = “Left” Credit = “Right”
LO 4: The Ledger
Chart of Accounts
Illustration 2-18
LO 4: The Ledger
Standard Form of Account
➢ T-account form used in accounting textbooks. ➢ Ledger form used in practice.
1 600
Service Revenue
1 600
31 Cash
900
Accounts Receivable
900
Required
(a) Post the transactions to T accounts.
(b) Prepare a trial balance as at 31 August 2011.
《财务会计英语》PPT课件
完整版课件ppt
9
Time-Period Concept
A fiscal year ends on a date other than December 31. Most retailers, including Wal-Mart and J.C.Penney, use a fiscal year that ends on January 31 because the low point in their business activity falls after Christmas.
完整版课件ppt
5
Under accrual accounting, cash transactions are recorded as well as noncash transactions such as: ➢Purchases of inventory on account ➢Sales on account ➢Depreciation expense ➢Accrual of expenses incurred but not yet paid ➢Usage of prepaid rent, insurance, and supplies
➢ A fiscal year ends on a date other than December 31.Interim financial statements are usually prepared for periods such as a month, a quarter, or semiannual period.
完整版课件ppt
15
Closing accounts
Debit each revenue account for its credit balance and credit Retained Earnings for the sum of the revenues. Credit each expense account for its debit balance. Debit retained earnings for the sum of the expenses . Credit the dividends account for its debit balance. Debit Retained Earnings.
财务会计英语unit1课件
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements
• Expense (费用) are the gross outflow of economic benefits resulted from the course of ordinary activities resulting in decreases in owner’s equity caused by the business’ revenueproducing operations, other than the decreases from distributions of profits to owners.
Section 3 Journalizing and Posting
Section 4 Financial Statements
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements • 1.1 The accounting equation
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements
Current assets (流动资产) are short-term assets including cash, bank deposit, accounts receivable, inventory, etc. Fixed assets (固定资产) are non-current assets, including land, buildings, equipment, furniture, etc. Intangible assets (无形资产) are also non-current assets, including patents, copyrights, licenses, franchises, goodwill, etc.
Section1 Accounting Equation and Accounting Elements
• Expense (费用) are the gross outflow of economic benefits resulted from the course of ordinary activities resulting in decreases in owner’s equity caused by the business’ revenueproducing operations, other than the decreases from distributions of profits to owners.
Section 3 Journalizing and Posting
Section 4 Financial Statements
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements • 1.1 The accounting equation
财务会计英语unit1
Section1 Accounting Equation and Accounting Elements
Current assets (流动资产) are short-term assets including cash, bank deposit, accounts receivable, inventory, etc. Fixed assets (固定资产) are non-current assets, including land, buildings, equipment, furniture, etc. Intangible assets (无形资产) are also non-current assets, including patents, copyrights, licenses, franchises, goodwill, etc.
会计英语财务会计(ppt版)
executives 高级(gāojí)管理人员
professional judgment
职业判断力
第六页，共八十四页。
ethical standard 道德(dàodé)准那么
integrity 整合性
AICPA
美国(měi ɡuó)注册会计师 协会
第七页，共八十四页。
Chapter 2
第四十六页，共八十四页。
weight average
加权平均
(píngjūn)
第四十七页，共八十四页。
Chapter 7
第四十八页，共八十四页。
accumulated depletion
累计折耗(shéhào)
accumulated depreciation
累计折旧
acquisition cost 取得(qǔdé)本钱
第二十九页，共八十四页。
bad debt recovery 已确认(quèrèn)坏账的收
回
bed debt expense 坏账费用
bank charges 银行(yínháng)手续费
bank credit memorandum
银行贷项通知
第三十页，共八十四页。
bank debit memorandum
closing the accounts
结账
(jié zhànɡ)
closing entry 结账分录
credit balance 贷方余额
第十八页，共八十四页。
debit balance 借方余额
depreciation expense 折旧费用
double-entry accounting
第二十七页，共八十四页。
英文版财务会计51页PPT
Copyright © 2007 Prentice-Hall. All rights reserved
14
Going Concern Concept
• Assumes that the entity will remain in operation for the foreseeable future
Copyright © 2007 Prentice-Hall. All rights reserved
28
Exercise 1-17
5
Ethics
• Audit
– Examination of company’s financial situation – Performed by independent accountants
• Sarbanes-Oxley Act
– Criminal offense to falsify financial statements
• AICPA – Code of Professional Conduct for Accountants
• IMA – Standards of Ethical Conduct
Copyright © 2007 Prentice-Hall. All rights reserved
7
Types of Business Organizations
Copyright © 2007 Prentice-Hall. All rights reserved
2
Decision Makers
• Individuals • Businesses • Investors • Creditors • Taxing Authorities
财务会计英语专项培训PPT课件( 90张)
Some of the action has been automated, so click the mouse when you see this lightning bolt in the lower right-hand
corner of the screen. You can point and click anywhere on the screen.
Objectives
1. Describe the basic characteristics of proprietorsAhfitpesr,sctuodrpyionrgathioisns, partnershicphsa,patnerd, yliomuitsehdouliladbility corporation. be able to:
Joe and Marty’s
Advantages
• More financial resources than a proprietorship
• Additional management skills
Alternative Forms of Business Entities
A partnership is an association of two or more individuals.
Chapter 13
Partnerships and Limited Liability Corporations
Accounting, 21st Edition
Warren R Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
财务会计英文版 09 PPT
$540,000
Accounting, 5/E GUOWEI HUST 9 - 6
7
华中科技大学管理学院
Gross Profit
Sales revenues – Cost of goods sold = Gross margin (before operating expenses)
Gross margin – Operating expenses = Net income
Specific identification $1,965.00
FIFO
$1,900.00
LIFO
$2,125.00
Weighted-average
$1,977.50
Accounting, 5/E GUOWEI HUST 9 - 24
25
华中科技大学管理学院
Comparison of Methods
Accounting, 5/E
20 Units @ $20 (Jan) GUOWEI HUST 9 - 20
21
华中科技大学管理学院
Last-In, First-Out
Cost of Goods Sold Oct $ 775 May 1,350 Total $2,125
25 Units @ $31 (Oct)
18
华中科技大学管理学院
Weighted Average
$2,825 total cost/100 units = $28.25/unit Cost of goods sold = 70 × $28.25 = $1977.50
Ending inventory = 30 × $28.25 = $847.50 Accounting, 5/E GUOWEI HUST 9 - 18
Accounting, 5/E GUOWEI HUST 9 - 6
7
华中科技大学管理学院
Gross Profit
Sales revenues – Cost of goods sold = Gross margin (before operating expenses)
Gross margin – Operating expenses = Net income
Specific identification $1,965.00
FIFO
$1,900.00
LIFO
$2,125.00
Weighted-average
$1,977.50
Accounting, 5/E GUOWEI HUST 9 - 24
25
华中科技大学管理学院
Comparison of Methods
Accounting, 5/E
20 Units @ $20 (Jan) GUOWEI HUST 9 - 20
21
华中科技大学管理学院
Last-In, First-Out
Cost of Goods Sold Oct $ 775 May 1,350 Total $2,125
25 Units @ $31 (Oct)
18
华中科技大学管理学院
Weighted Average
$2,825 total cost/100 units = $28.25/unit Cost of goods sold = 70 × $28.25 = $1977.50
Ending inventory = 30 × $28.25 = $847.50 Accounting, 5/E GUOWEI HUST 9 - 18
财务会计英语PPT
(b) An explanation for the uncertainty of the outflow of the economic benefits; (c) An estimate of the expected financial effect of the contingent debts and the possibility of any expenditure. If it is unable to make an estimate, the reasons shall be explained. (3) In general, no enterprise may disclose the contingent assets. However, if a contingent asset will probably give rise to an inflow of economic benefits to the enterprise, the enterprise shall disclose the cause, the expected financial effect, etc. 企业应当在附注中披露与或有事项有关的下列信息： (一)预计负债。 1．预计负债的种类、形成原因以及经济利益流出不确定性的说明。 2．各类预计负债的期初、期末余额和本期变动情况。 3．与预计负债有关的预期补偿金额和本期已确认的预期补偿金额。 (二)或有负债(不包括极小可能导致经济利益流出企业的或有负债)。
If you go short and the futures price goes up, you lose money. 如果你卖空而期货价格上升，你就赔钱。 Futures is one of the types of financial futures. 外汇期货是金融期货的一种。 The futures price is not constant until the contract expires. 直到其期货合约到期之前，期货价格才稳定。
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