会计英语

Separate Entity Assumption（会计主体）Going Concern Assumption（持续经营）

Time-period Assumption（会计分期）Monetary Unit Assumption（货币计量）

2.Corporation does not adjust amounts in its financial statements for the effects of inflation. ——Monetary unit

3.firm reports current and noncurrent classifications in its balance sheet ——Going Concern

4.The economic activities of D corporation and its subsidiaries are merged for accounting and reporting purposes.——accounting Entity Cost principle历史成本原Matching Principle配比原则 Conservatism谨慎性原则Materiality重要性原则 capital and revenue expenditure资本性与权益性支出 Substance over form实质重于形式

(a) Crimson Tide Corporation does not accrue a contingent lawsuit gain of $650,000.——Conservatism

(b) Yahoo, Inc. recognizes depreciation expense for a machine over the 2-year period during which that machine helps the company earn revenue.——Matching

(c) Sun Devil Corporation expenses the cost of wastebaskets in the year they are acquired.——Materiality

(d) Eastman Kodak Company reports land on its balance sheet at the amount paid to acquire it, even though the estimated fair market value is greater.——Historical Cost

Materiality 重要性原则的四个小点

1.A large bad-debt write-off would usually be a material event. —— large

2. A very low inventory figure, but reflects the firm’s liquidity. ——Small but important

3. A small bad-debt write-off is twice as large as normal. —— significantly different

4. The sales figure. —— nature

Cost principle历史成本原则

• This principle means that accounting information is based on actual cost（实际成本）.

• Cost is reliable, and information based on cost is considered objective.• The cost principle provides guidance primarily at the initial acquisition date（初始获得日）. And it is the depreciation（折旧）base.

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Measurement bases（计量基础）五个计量属性

1. Historical cost历史成本

2. Replacement cost 重置成本

3. Net realizable value 可变现净值

4. Current value现值

5. Fair value公允价值

Quality characteristics of accounting information（会计信息质量特征）Relevance (相关性) Reliability(可靠性) Understandability（可理解性）Comparability（可比性）

Trade-off（权衡利弊）happens between relevance and reliability Accounting cycle

Accounting equation 会计等式

Double-entry 复式记账

Accounting cycle 会计循环

Journals 日记账

Ledgers 分类账

Adjusting procedures 调整程序

Closing process 结账程序

The trial balance 余额试算表

Rules of The Double-Entry System复式记账

1.Each transaction affects at least two accounts. (每项交易至少影响两个账户)

2. Total debits must equal total credits.（借方总额等于贷方总额）Debits and Credits in the Accounts

Assets(Dr+，Cr-) = liabilities(Dr-，Cr+) + equity(Dr-，Cr+)

Revenues(Dr-，Cr+) - Expenses(Dr+，Cr-) = Net Income

Two words about journals （简答）

1.Journalize 登记日记账