accounting1
1.会计英语第一章Accounting Environment
Ⅰ. Accounting: The Language of Business ( Ⅰ) Accounting is the information system that measures business activity, processes the information into reports, and communicates the results to decisions makers.
(Ⅲ) Corporation
A corporation is a business owned by stockholders, or shareholders. These are the people who own shares of ownership in the business. Corporation differ significantly from proprietorships and partnerships in another way. If a proprietorship or a partnership can not pay its debts, lenders can take the owners’ personal assets to satisfy the business’s obligation.
Management accounting focuses on information for internal decision makers, such as the company’s executives and the administrators of a hospital.
财务会计专业英语 (1)
©2009 The McGraw-Hill Companies, Inc., All Rights Reserved
Learning Objectives-Conceptual
C1: Explain the purpose and importance of accounting in the information age C2: Identify users and uses of accounting C3: Identify opportunities in accounting and related fields C4: Explain why ethics are crucial in accounting C5: Explain GAAP, and define and apply several key accounting principles
Introduction
Textbook
Principles of Accounting (Nineteenth Edition), by John J. Wild, Ken W. Shaw, Barbara Chiappetta, 崔学刚，饶菁改编，中国人民大学出版 社，2009年7月出版
©2009 The McGraw-Hill Companies, Inc., All Rights Reserved
©2009 The McGraw-Hill Companies, Inc., All Rights Reserved
Learning Objectives-Analytical
A1: Define and interpret the accounting equation and each of its components A2: Analyze business transactions using the accounting equation
会计学原理名词解释
1.Accounting会计（学）: is an information and measurement system that id entifies records andcommunicates relevant reliabl e and comparabl e information about an organization’s businessactivities.2.Managerial accounting管理会计: is the area of accounting that serves the d ecision-marking needs ofinternal users3.Events项目: refer to happenings that affect an entity’s accounting equation and can be reliablymeasured.4.External user外部使用者: of accounting information are not directly involved in running theorganization.5.Internal user内部使用者: of accounting information are those directly efficiency and effectivenessof an organization.6.Ethics: are beliefs that distinguish right from wrong. They are accepted standards of good and badbehavior.7.Cost principl e（历史）成本原则: means that accounting information is based on actual cost.8.Revenue recognition principl e（营业）收入确定原则: provid es guidance on when a company mustrecognize revenue.9.Matching principl e配合原则，收支对应原则: prescribes that a company must records its expensesincurred to generate the revenue reported.10.Going-concerning assumption持续经营假设: means that accounting information refl ects apresumption that the business will continue operating instead of being cl osed or sol d.11.Audit审计，审核: through review of an organization’s accounting records and accounting reportsand return make by the analysis. income净收益，收益净额: amount a business earns after paying all expenses and costsassociated with its sales and revenues.13.Income statement损益表: d escribes a company’s revenues and expenses al on g with the resulting netincome or l oss over a period time due to earnings activities.14.Statement of owner’s equity所有者: explains changes in equity from net income (or l oss) and fromany owner investments and withdrawals over a period of time.15.Balance sheet资产负债表，平衡表: d escribes a company’s financial position (types and amounts ofassets liabilities and equity) at a point in time.16.Statement of cash fl ows现金流量表: id entifies cash infl ows (receipts) and cash outfl ows (payments)over a period of time.17.Owner’s withdr awals account所有者提款账户: the account used to record the transfers of assetsfrom a business to its owner.18.Liabilities负债: is what a company owes its no owners (creditors) in future payments, products, orservices.19.Accounting equation会计恒等式: Assets=Liabilities + Equity.20.Accrued expense应计费用，预提费用: refer to costs that are incurred in a period but are bothunpaid and unrecord ed.21.Operating cycl e:经营周期is the time span from when cash is used to acquire goods and servicesuntil cash is received from the sale of goods and services.22.Sharehol d ers (investors):股东，投资者are the owners of a corporation.23.Current radio:目前的广播电a ratio used to help evaluate a company’s ability to pay its d ebts in thenear future.24.Merchandise inventory:库存商品，商品盘存refers to products that a company owns and intends tosell.25.Cash discount:现金折扣，现金贴现reduction in a receivabl e or payabl e if it is paid within thediscount period. sellers can grant a cash discount to discourage buyers to pay earlier26.Gross profit:总利润also call ed Gross margin, which equals net sales cost of goods sold.27.Credit period:付款/信贷期限the amount of time all owed before full payment is due.28.Acid-test ratio酸性比率测试: a ratio used to assets a company’s ability to pay its current liabilities;d efined by current liabilities.29.Selling expense:销售费用includ e the expenses of promoting sales by displaying and advertisingmerchandise, making sales, and d elivering goods to customers.(P124)30.General and administrative expense（一般）管理费用: support a company’s overall operatio ns andinclud e expenses related to accounting, human resource management, and financial management. 31.Time period assumption: 会计分期假设presumes that the life of a company can be divid ed intotime periods, such as months and years, and that useful reports can be prepared for those periods.32.Account receivabl e:应收账款are held by a sell er and d ecreased by customers to sell ers.33.Prepaid account (also call ed prepaid expenses): 预付费用/待摊费用are assets that representprepayments of future expenses (not current expenses).34.Purchase discount:购物折扣purchaser’s d escripti on of a cash discount received from a supplier ofgoods.35.Sales discount:销售折扣sell er’s d escription of a cash discount granted to buyers in return for earlypayment.36.Trad e discount:商业折扣reduction below list or catalog price hat is negotiated in setting the price ofgoods.37.FOB shipping point (FOB factory):寄发地交货means the buyer accepts ownership when the goodsd epart the s eller’s place of business.38.FOB d estination: 目的地交货，离岸交货means ownership of goods transfers to the buyer when thegoods arrive at the b uyer’s pl ace of business.39.Credit terms: 信贷条件，赊销付款条件for a purchase includ e the amounts and timing of paymentsfrom a buy to a seller.40.Current assets:流动资产are cash and other resources that are expected to be sol d, coll ect, or usedwithin one year or the company’s op erating cycle, whichever is l onger.41.Plant assets: 固定资产refers to l ong-term tangibl e assets used to produce and sell products andservices.42.Long-term investment:长期投资notes receivabl e and investments in stocks and bonds are long-termassets when they are expected to be hel d for more than the l onger of one year or the operating cycl e.43.Intangibl e assets:无形资产are long-term resources that benefit business operations, usually lackphysical form, and have uncertain benefits. (P98)44.Current liabilities: 流动负债are obligations due to be paid or settled within one year or theoperating cycl e, whichever is l onger.(P98)45.Long-term liabilities长期负债: are obligations not due within one year or the operating cycl e,whichever is l onger.46.Accounting cycl e:会计周期refers to the steps in preparing financial statements.(P95)47.Temporary (or nominal) accounts:临时账户，名义账户accumulate data related to one accountingperiod.48.Permanent (or real) accounts:永久账户，实际账户report on activities related to one or more futureaccounting periods.49.account reveivabl e(应收账款)are liquid assets,usually being converted into cash within a period of30 to 60 days. Therefore, accounts receivabl e from customers are classified as current assets,appearing in the balance sheet immediately after cash and marketabl e securities.50.d oubl e entry accounting（复式记账法）is a standard accounting method that involves each transactionbeing record ed in at l east two accounts, resulting in a d ebit to one or more accounts and a credit to one or more accounts.51.materiality（重要性原则）refers to the magnitud e of an omission or misstatement of accountinginformation that, consid ering the circumstances ,make it likely that the judgment of a reasonabl e person relying on the information would have been influenced by the omission or misstatement. 52.perpetual inventory system（定期盘存制）Und er the perpetual inventory system,the inventoryrecords are kept up-to-date.Virtually all large business organizations use perpetual inventorysystems.53.unearned revenue（预收账款/预收收入）A liability for unearned revenue arises when a customerpays in advance.54.financial statement（财务报表）Four related accounting reports that summarize the current financialposition of an entity and the results of its operations for the preceding year(or other thim period) 55.historical cost（历史成本）The historical cost of an asset is the exchange price in the transaction inwhich the asset was acquired56.d epreciation（折旧）The systematic allocation of the cost of an asset to expense over the years of itsestimated useful57.accrued liabilities（应计负债）The liabilities to pay an expense which has accrued during theperiod.Accrued liabilities are also call ed accrued expenses.58.income（收入）is d efined as increases in economic benefits during the reporting period,in the form ofinfl ows or enhancements of assets,or d ecreases of liabilities tha result in increases in equity,other than those relating to contributions from equity participants.Income encompasses both revenue and gains.59.asset（资产）is a resource controll ed by the enterprise as a result of past events and from whichfuture economic benefits are expected to fl ow to the enterprise.60.account payabl e（应付账款）often are subdivid ed into categories of trad e accounts payabl e and otheraccounts payabl e.Trad e accounts payabl e are short—term obligations to suppliers for purchases or merchandise.Other accounts payabl e includ e liabilities for any goods and services other thanmerchandise.61.FIFO（先进先出法）A method of computing the cost of inventory and the cost of goods sold based onthe assumption that the first merchandise acquired is the first merchandise sol d,and that the ending inventory consists of the most recently acquired goods.62.Goodwill（商誉）The present value of expected future earnings of a business in excess of the earningsnormally realized in the industry.63.cost principl e（历史成本原则）The cost principl e states that assets shoul d by record ed at theircost.Cost is the value exchanged at the time something is acquired.64.权责发生制accrual basis of accounting: Means that revenues, expenses and other changes in assets,liabilities, and owners’ equity are accounted for in the period in which the economic event takes place, not necessarily when the cash infl ows and outfl ows take place利润表income statement :An income statement is a financial statement showing the results of operations for a business by matching revenue and related expenses for a particular accountingperiod .It shows the net income or net loss.永续盘存制perpetual inventory system: Is a system of accounting for merchandise that provid es a continuous record showing the quantity and cost of all goods on hand.总账账户control accounts: Grouped according to the el ements of financial statement, the general l edger hol ds the individual control accounts.费用Expense: Generally speaking, expenses are costs that are charged against ，revenue and that are related to the entity’s basic business.二简答题1.State the steps of establishing internal control over cash(简述建立现金内部控制的程序) (1)Separate the function of handling cash from the maintenance of accounting records（将现金收付与记账职务分离）(2)Prepare an immediate control listing of cash receipts at the time and place that themoney is received（在收到现金的当时当地编制一份现金收入控制清单）(3)Require that all cash receipts be d eposited daily in the bank（每日都要将现金收入存入银行）(4)Make all payments by check（所有的付款都以支票形式通过银行支付）(5)Separate the function of approving expenditures from the function of signing checks（将核准支出职务与签发支票职务分离）2.What are the quality chatacteristics of accounting information（会计信息质量特征）：Rel evance（相关性）,reliability（可靠性）,und erstandability（可理解性）,comparability（可比性）3.Describe the steps(procedures) of accounting cycl e（描述会计循环的步骤）(1)id entify transactions or events to be record ed（确认需要记录的交易或事项）(2)journalize transactions and events（将交易或事项登记到日记账）(3)posting from journal to l edger（从日记账过入）(4)prepare unadjusted trial balance（编制调整前余额试算表）(5)journalize and post adjusting journal entries（将调整分录计入日记账并过入分类账）(6)prepare adjusted trial balance（编制调整后余额试算表）(7)prepare financial statements（编制财务报表）(8)journalize and post cl osing entries（将结账分录计入日记账并过账）(9)prepare post-cl osing trial balance（编制结账后余额试算表）4.Briefly state the four assumptions and explain（简述四个会计假设）Separate entity（会计主体假设）,going concern（持续经营假设）.,time-period（会计分期假设）,monetary unit（货币计量假设）5.Briefly state the classification investment in securities（简述有价证券的列报）Trading securities（交易性证券），held-to-maturity securities（持有至到期投资）,availabl e-for-sale securities（可供出售的金融资产）,l ong-term investment in equity securities（长期股权投资）6.What are the accounting el ements（会计要素）Assets（资产）,liabilities（负债）,owners’ equity（所有者权益）,revenues（收入）,expenses（费用）,income （利润）d oubl e-entrybookkeeping 复式记账financial statement财务报表accounting equation 会计恒等式owner’s equity所有者权益retained earning 留存收益source d ocument原始凭证computerized accounting system 电算化会计系统accumulated d epreciation累计折旧Proprietorship所有权post-cl osing trial balance调整后试算accrued expense应计费用real/permanent account 实账户nominal/temporary account虚账户notes to the financial statements会计报表附注balance sheet资产负债表Accounting Standards for Business Enterprise 企业会计准则cash fl ow statement 现金流量表l ong-term solvency长期偿债能力short-term liquidity 短期偿债能力provision for bad d ebts 坏账准备construction in progress在建工程d eferred tax on d ebit/credit 递延税款借贷项estimabl e liabilities 预计负债paid-in captical 实收资本accounting treatment 会计处理current period 当期inflation 通货膨胀purchasing power 购买力profit distribution 理论分配accounting information 会计信息IASC 国际会计准则委员会FASB 财务会计准则委员会Liquidity 流动性cash equivalent 现金等价物Financial instrument 金融工具semifinished goods 半成品Low-value and perishabl e articles 低值易耗品weighted average 加权平均法accelerated d epreciation method 加速折旧法moving average 移动平均法trad emark 商标权Copyrights 著作权par value 票面价值sales all owances 销售折让cost variance 成本差异periodic expense 期间费用turnover tax 流转税non-operating expense 营业外支出theoretical framework 理论框架financial distress 财务困境current ratio 流动比例P/E ratio 市盈率M/B 市值与账面价值比capitalization ratio 资本比率Horizontal analysis 横向分析fiscal period 会计期间Vertical analysis 纵向分析price ind ex 价格指数subsidiary 子公司parent company 母公司generally accepted accounting principl es 公认会计准则calendar year 日历年度historical rate 历史汇率Receivabl es 应收账款payabl es 应付账款TQM 全面质量管理TOC 约束理论direct material 直接材料Ord er-getting cost 订单获取成本ord er-filling cost 订单获取成本process costing system 分布成本计算法job-ord er costing system 分批成本计算法step-variabl e cost 阶梯式成本cost formula 成本公式profit margin 贡献边际the high-l ow method 高低点法the scattergraph method 散布图法the least-squares regression method 最小二乘回归法cost behavior 成本性态。
会计英语1Financial Accounting
1.2 Accounting basis and Accounting Assumptions
Two types of accounting basis
• The information communicated to the external users in financial reporting is based on standards that establish CAS(Chinese Accounting Standards).
Objectives of Financial reporting
1.1 The purpose of Accounting and Financial Reporting
• Accounting may be described as the process of identifying , measuring, recording, and communicating economic information to permit informed judgments and decisions by users of that information.
Define accounting, financial accounting, and financial statement. Describe and prepare a balance sheet; define assets, liabilities, and owners’ equity. Explain the accounting bases and assumptions. Describe the accounting principles and measurement bases and qualitative characteristics of financial accounting information.
麻省理工 Accounting教程1
Course Grading
Written Problem Sets Class participation Midterm 1 Midterm 2 Final 10% 10 20 20 40
5
Accounting Introduction
Discussion of Accounting
Why is accounting interesting? Why do we need accounting?
Managerial Accounting
provides information to people inside the company
Internal investment decisions Performance evaluation
Tax Accounting
provides information to the tax authorities
Financial accounting promotes the exchange of resources Financial accounting promotes the exchange of resources
Resources Today Company Information (e.g., financial statements) Resources Tomorrow
within 10 days of the end of a month containing a significant event (e.g., major asset sales, changes in ownership, bankruptcy, changing the auditor)
Accounting《会计学：教程与案例》财务会计答案解析 第一章
《会计学：教程与案例》财务会计答案第一章案例一：Case 1-1: Ribbons an’ Bows, Inc.Note: This case is unchanged from the Twelfth Edition.注：本案与第十二版持平。
Approach方法This is an introductory case and it should be taught as an introductory case. There will be plenty of time in the course for the students to learn the correct form of financial statements and details of accounting standards. In short, the instructor should be prepared to allow a variety of formats for the financial statements and tolerate some “not quite correct” accounting.这是一个介绍性案例，应该作为一个介绍性案例来教授。
课程中有足够的时间让学生学习财务报表的正确格式和会计准则的细节。
简言之，教师应准备好允许各种财务报表格式，并容忍一些“不太正确”的会计。
The instructor may want to have students discuss Carmen’s March 31 statement, but the bulk of the class should focus on the three case questions. Any discussion of the March 31 statement should deal with the nature of the various accounts (i.e. prepaid rent is rent paid in advance of using the property and it is an asset because it has future economic benefits for the company, etc), rather than the format of the statement. It is better to leave the beginning of the course’s instruction in financial statement formats to the assigned case question discussions.讲师可能希望学生讨论卡门3月31日的声明，但大部分的课应该集中在三个问题上。
会计英语
《会计英语》教案授课班级：16级会计1，2，3班财管班授课日期：2017年上期Unit 1 ACCOUNTING: A GENERAL INTRODUCTIONLearning Objectives:After studying this unit, you should be able to :1. Understand the functions of accounting2. Understand the development of accounting3. Define accounting4. Identify the divisions of accountant’s work5. Understand the accounting assumptions and principleI. Accounting is an Information System（会计是一项信息系统）Accounting is an information system necessitated by the great complexity of modern business. Provide the management inside an organization with the accounting information needed in the organization’s internal decision-making, which relates to planning, control, and evaluation within an organization.II. The Development of Accounting（会计的发展）Bookkeeping is the preservation of a systematic, quantitative record of an activity. Bookkeeping systems can be very primitive.Distinction between bookkeeping and accountingThe accountant sets up a bookkeeping system and interprets the data in it, whereas the bookkeeper performs the routine work of recording figures in books.III. The Definition of Accounting（会计的定义）Accounting is an information system of interpreting, recording, measuring, classifying, summarizing, reporting and describing business economic activities with monetary unit as its main criterion .IV. Divisions of Accounting Profession（会计职业分类）1. Public accounting（公共会计）2. Private accounting （私人会计）3. Government and nonprofit accounting（政府和非盈利会计）Public accountingPublic accountant who are similar to doctors or lawyers can offer their accounting service to the public on a fee basis.Private accountingThe accountants in a private business, large or small, must recordtransaction and prepare periodic financial statements from accounting records.Government and nonprofit accountingMany accountants work in government offices or for nonprofit organizations. These two areas are often joined together under the term governmental accounting and nonprofit accounting.V. Generally Accepted Accounting Principles（会计通用原则）1. Accounting Assumptions（基本会计假设）(1) Accounting entity assumption （会计主体假设）(2) Monetary unit assumption（货币单元假设）(3) Going concern assumption（会计分期假设）(4) Accounting period assumption（会计周期假设）Accounting entity assumptionAn accounting entity is any economic unit which controls resource and engages in accounting practice. Transactions between accounting entities are recorded in the accounts of both entitiesMonetary unit assumptionMoney is the common unit in which accounting measurements are made and measured. All transactions are measured, recorded and reported in terms of money unit.Going concern assumptionAccording to the going concern concept, accountants assume that the business will remain in operation long enough to use existing assets for their intended purpose.Accounting period assumptionMost accounting entities are assumed to have an indefinite life. But accountants are asked to measure operating result and changes in economic position at relatively short time interval during this indefinite life.2. Accounting Principles（会计原则）(1) Cost principle（成本原则）(2) The revenue realization principle（收入实现原则）(3) The matching principle（配比原则）(4) The adequate disclosure principle（充分披露原则）3. Accounting Constraints（会计约束）(1) The objective principle（客观性原则）(2)The materiality principle（重要性原则）(3)The consistency principle（持续性原则）(4)The conservatism principle（谨慎性原则）UNIT 2 ACCOUNTING ELEMENTS AND EQUATIONSLearning Objective:After studying this unit, you should be able to :1. Explain the accounting elements2. Explain the classification of the accounting elements3. Understand the accounting equation4. Understand the effect of business transaction upon the accounting equationI. Basic Elements of Accounting(基本会计要素)Financial accounting information is classified into the categories of assets, liabilities, owner’s equity, revenues, expense, and net income.1.Assets（资产）The definition of assetsAssets are economic resources, which are measurable by money value, and which are owned or controlled by an enterprise.The classification of assetsAssets can be classified into current assets and long-term assets. Current assets（流动资产）Current assets refer to those assets which will be realized or consumed within one year of their acquisition. It including cash, accounts receivable, and inventories, etc.Long-term assets（长期资产）Long-term assets consist of those economic resources that are held for operational purpose, including plant and equipment and intangible assets, etc.2.Liabilities（负债）Liabilities are debts born by an enterprise, measurable by money value, which will be paid to a creditor using assets or services.The classification of liabilitiesLiabilities are generally classified into current liabilities and long-term liabilities.Current liability（流动负债）Current liabilities refer to the debts which should be paid off within a year or an operating cycle longer than a year.The classification of current liabilitiesIt including: notes payable, accounts payable, advances from customers, accrued expenses, and taxes payable, etc;Long-term liability（长期负债）Long-term liabilities refer to the debts which will be repayment after a year including long-term notes payable, bonds payable, and mortgage note, etc.3.Owner's equity（所有者权益）Owner's equity refers to the interest or the claim of the investors remaining in the net assets of an enterprise.Net assets are the difference between the amount of assets and the amount of liabilities. That is say net assets equal owner’s equity.4.Revenue（收入）Revenue is the economic resources flowing into a business as a result of rendering good sold and service during a given accounting period. The classification of revenueSales revenue, service revenue, and investment revenue are subdivisions of revenue. Increase in revenue will increase owner's equity.5. Expenses（支出）Expenses are the outflow of a business's economic resources resulting from earning revenue or the cost of the operational activities for the business.The classification of expenseExpenses include cost of goods sold, administrative expenses, selling expenses, and financial expenses, etc. Increase in expenses will decreaseowner's equity.6. Net income（纯收入）Net income (or net loss) is the result of matching revenue with expenses. When revenue exceeds expenses, net income occurs, otherwise net loss occurs.II. Accounting Equations（会计等式）Basic accounting equations:Assets= EquityAssets = Liabilities + Owner's EquityAssets= Liabilities + Owner’s EquityExpanded accounting equation:Assets= Liabilities + Owner's Equity + Net incomeAssets = Liabilities + Owner's Equity+ Revenues – ExpensesAssets+ Expenses= Liabilities + Owner's Equity+ RevenuesIII. Effect of Business transactions upon the Accounting Equation（商业交易对会计等式的影响）1. Increase an asset and increase a equity;2. Decrease an asset and decrease a equity;3. Increase one asset and decrease another asset;4. Decrease one equity and increase another equity.Unit 3 The Double-entry Accounting SystemLearning Objective:After studying this unit, you should be able to:1. Define the accounts2. Identify the chart of accounts for a typical company3. Analyse transaction using debts and credits4. Learn different types of accounts5. Understand the double-entry accounting system and single-entry systemI. What is the Account(什么是账户)An account is a specific accounting record that provides an efficient way to categorize transactions.We may designate asset accounts, liability accounts, owner’s equity accounts, revenue accounts and expense accounts.II. Debit and Credit（借方和贷方）Accountants often use T-account as a visual aid for seeing the effect of the debit and credit on the two (or more) account.Account nameDr. Cr.III. Types of Accounts（账户类型）1. Asset accountsAssetsDr Cr(+) (-)Ending balances2. Liability accountsLiabilitiesDr Cr(-) (+)Ending balances3. Owner’s equity accountLiabilitiesDr Cr(-) (+)Ending balances4. Revenue and expense accountsRevenue ExpenseDr Cr Dr Cr(-) (+) (+) (-)As an example: Mr. S. Smith invested $4, 000 to open his counseling practice.Cash Capital4,000 4,000Bought office furniture from Robinson Furniture Company on account $2,000.Office furniture Accounts payable2,000 2,000IV. The Double-entry Accounting System and Single-entry System（复式记账和单式记账）Double-entry accounting system means that the amounts of debit and credit entries must be equal when accounts record every business transactions.The features of double-entry accounting system1. Debits are always entered on the left side of an account and credits on the right side.2. For every transaction, there must be at least one debit and one credit.3. Debits must always equal credits for each transaction.Single-entry systemSingle-entry system is similar to a check book register and is characterized by the fact that there is only a single line entered in the account for each transaction.V. Accounting Entry（会计分录）Accounting Entry Format:DateDebit Account…………………….amountCredit Account………………….amountExplanationA accounting entry involves a three-step process:1.Identify which accounts are involved.2.For each account, determine if it is increased or decreased.3.For each account, determine by how much it has changed.For example,Mr. S. Smith invested $4, 000 to open his counseling practice.Cash 4,000Mr. S. Smith, Capital 4,000To record invest 4,000 cash open the business.Bought office furniture from Robinson Furniture Company on account, $2,000.Office Furniture 2,000Accounts Payable 2,000To record buy office furniture $2,000 on account.Unit 4 THE ACCOUNTING PROCESSLearning Objective:After studying this unit, you should be able to :1. Understand how to collect economic information2. Explain the accounting cycle3. Understand the journals and ledgers4. Explain the trial balanceI. Accounting Cycle（会计周期）During each accounting year, a sequence of accounting procedures called the accounting cycle is completed.Complete accounting cycle includes the following eight steps:Step 1 Transactions are analyzed on the basis of business documents known as source documents and are recorded in either the general journal or the special journals;Step 2 Information is transferred (posted) from the journal to ledger accounts;Step 3 A trial balance is prepared from the accounts balance in the ledger to prove the equality of debits and credits;Step 4 Adjusting entries are made to bring the balances of some accounts to their proper amounts for matching principle;Step 5 Preparing an adjusted trial balance , proving again the equality of debits and credits in the ledger account;Step 6 Making closing entries, journalizing and posting them into ledger accounts and closing all revenue and expense accounts;Step 7 Preparing an post-closing trial balance;Step 8 Preparing income statement and balance sheet based on the balance in the ledger account.II. Journals（日记账）In a western accounting system, the information about each business transaction is initially recorded in an accounting record called a Journal.1. Types of journalsGeneral Journal（普通日记账）The simplest type of journal is called a general journal. It has only two money columns, one for debits and the other for credits; it may be used for all types of transaction.Special Journals（特殊日记账）Special journals are designed as a simple way to record a single type of frequently occurring transaction. such as sales, purchases, cash receipts and cash payments journals.Sales journal2. Usefulness of using journals1. The journal shows all information about a transaction in one place and also provides an explanation of the transaction;2. The journal provides a chronological record of in the life of a business;3. The use of a journal helps to prevent errors .III. Ledgers（分类账）The complete set of accounts for a business entity is called a ledger. They may be grouped into general ledger and subsidiary ledger.1. General Ledger（总分类账）The general ledger is the book used to list all the accounts established by an organization.General ledgerAccount: Cash Account No.1012. Subsidiary Ledger（辅助分类账）Further simplification of the general ledger is brought about by the use of subsidiary ledger.In practice, accounts payable and accounts receivable have subsidiary ledger.The Relation of the General and Subsidiary LedgersThe advantages of subsidiary ledgers1. Reduces ledger detail;2. Permits better division of labor;3. Permits a different sequence of accounts ;4. Permits better internal control.3. Posting transactionsPosting is the process of copying journal entry information from the journal to the ledger.The steps of posting1. Record the date and the amount of the entry in the account.2. Insert the number of the journal page in the posting reference column of the account.3. Insert the ledger account number in the posting reference column of the journal.VI. The Trial Balance（试算平衡表）The trial balance is a worksheet on which you list all general ledger accounts and debit or credit balance.ABC Co. LTD.Trial BalanceSeptember 30, 2009Accounts names Debits CreditsCash $ 5,800Furniture 2,000Accounts Payable 2,000 Capital 4,000Sales 2,500Rent Expense 500Salaries Expense 200Totals $ 8,500 $ 8,500How to Prepare a Trial BalanceThe procedure is as follows:1. List account names in numerical order;2. Record balances of each account, entering debit balances in the left column and credit balances in the right column;3. Add the columns and record the totals;4. Compare the totals.2. Uses and Limitations of the Trial Balance Typical of such errors are:◆The entering of a debit as a credit or vice versa;◆Arithmetical mistakes in balancing accounts;Unit 5 Adjusting Entry and Closing ProcedureLearning Objective:After studying this unit, you should be able to :1. Explain the cash and accrual basis of accounting2. Understand the difference of cash basis and accrual basis of accounting3. Describe the types and characteristics of adjusting entries4. Prepare the closing entriesI. Basis of Accounting（会计基础）1. Periodic ReportingIn order to provide timely accounting information, the time-period concept divides the life of an enterprise into distinct and relatively short accounting periods.2. Cash Basis and Accrual Basis of Accounting（收付实现制和权责发生制）In accrual-basis accounting, an accountant recognizes the impact of a business transaction as it occurs.In cash-basis accounting, however, the accountant does not record a transaction until cash is received or paid.The generally accepted accounting principles (GAAP) require that a business use the accrual basis.For example, in its first year of operations, Harris Co. earned $ 39,000 in revenues and received $ 33,000 cash from customers. The company incurred expenses of $ 22,500, but had not paid for $ 2,250 of them at year end.In addition, Harris prepaid $ 3,750 for expenses that would be incurred the next year.Calculate the first year’s net income under a cash basis and under an accrual basis.Cash basis:Revenues (cash receipts) $33,000Expenses (cash payments)(22,500-2,250+3,750) 24,000Net income $9,000Accrual basis:Revenues $39,000Expenses 22,500Net income $16,500Under the two basis of accounting, net income is different.II.Adjusting Entries（调整分录）Types of Adjusting Entries :1. Prepaid expenses2. Unearned revenues3. Unrecorded liabilities4. Unrecorded receivablesPrepaid expensesPayments that a company makes in advance for items normally charged to expense are known as prepaid expense.An example would be the payment of an insurance premium for 12 months.Assume that JB Service Company paid $ 2,400 premium on March 1 for one year's property insurance in advance.March 1,Prepaid Insurance 2,400Cash 2,400To record pay a year’s premium $2,400 in advance.At the end of March, 1/12 of $ 2,400 premium or $ 200 has expired or been used up during the year.March 31,Insurance Expense 200Prepaid Insurance 200To record apportion this month’s premium $200.Unearned revenuesAmounts received before the actual earning of revenues are known as unearned revenues.In the period in which goods or services are rendered, an adjusting entry is made to record the portion of the revenue earned during the period.On December 1, 2009, assume that JB Service Company collected in advance $2,000 from a customer for the service to be completed on January 31, 2010.December 1,Cash 2,000Advances on Service Revenue 2,000To record receive the revenue $2,000 in advance.On December 31, 2009, JB Service Company had already realized that half of service revenue;Advances on Service Revenue 1,000Service Revenue 1,000To record realized half revenue $1,000.Unrecorded liabilitiesAdjusting entries are required at the end of an accounting period to recognize any unrecorded liabilities in the proper period and to record the corresponding expenses.Assume that the employees' salaries in JB Service Company were paid up to December 29, the salaries of two days (December 30 and 31) were not paid to the employees.December 31:Salaries Expense 3,000Salaries Payable 3,000To record accrued salaries expense $3,000 at the end of the period. Unrecorded receivablesRevenues may be earned during the current period, but not yet billed to customers or recorded in the accounting records.On December 31, assume that JB Service Company has completed a half of service work. The total amount to be received when the work is completed will be $5,000.Accounts Receivable 2,500Service Revenue 5,000To record not receive the revenue $2, 500.Characteristics of adjusting entries◆Every adjusting entry involves the recognition of either revenue or expenses.◆Adjusting entries are based on the concepts of accrual accounting, not upon monthly bills or month-end transactions.III. Closing the accounts（结账）1 .Real and nominal accounts（真实与名义账户）Real accounts (assets, liabilities, and owners' equity) are permanent; they are not closed to a zero balance at the end of each accounting period.nominal accountsThese accounts (revenues, expenses, and dividends) are temporary; they are really just subcategories of Income Summary and are reduced to a zero balance through the closing process at the end of each accounting period.2. Purpose of closing entries（结账目的）At the end of an accounting period, an income statement is prepared.The revenue and expense accounts have served their purpose in determining the period's net income.3. Preparing the closing entries（准备结账）In short, the processes of closing the accounts include the following four steps:(1) Close revenues (credit balances) to income summary;(2) Close expenses (debit balances) to income summary;(3) Close income summary (the balance is net income or loss) to the owner‘s capital (or to retained earnings for corporations);(4) Close withdrawals (debit balance) to capital (or dividends to retained earnings for corporations).Closing entries for the revenue accountsClosing a revenue account means transferring its credit balance to the income summary account.Assume that the only revenue account in the JB Service Company, which had a credit balance of $12,500 at October 31.October 31,Service Revenue 12,500Income Summary 12,500To record close the revenue account.Closing Entry for the Revenue AccountService Revenue Income SummaryClosing entries for the expense accountsClosing an expense account means transferring its debit balance to the income summary account.Assume that there are four expense accounts in the ledger of JB Service Company. On October 31, the total amount of the debit balances for the four expense accounts is $10,000.Income Summary 10,000Advertising Expense 3,000Salaries Expense 4,000Telephone Expense 1,000Depreciation Expense 2,000To record close the expense account.Closing the income summary accountAt the end of accounting period, the balance of income summary account is then transferred to owner’s capital account for sole proprietorship and partnership. For the corporation, the balance of income summary account is transferred to the retained earnings account.From the above examples, we can see that the income summary account has a credit balance of $ 2,500.Income Summary 2,500John Braun, Capital 2,500To record close the income summary account.Closing the Income Summary AccountClosing the account of withdrawalsClosing the account of withdrawals means transferring its debit balance to the owner's capital account.Assume that the account of withdrawals for JB Service Company had a credit balance of $1,000 at October 31.October 31,John Braun, Capital 1,000John Braun, Withdrawals 1,000To record close the withdrawal account.Closing entries transfer the balances in the temporary (or nominal) accounts (revenue, expense, and dividend so on) to a balance sheet equity account. Closing the accounts is process that prepares the accounts for the next period.。
会计英语1-14章术语翻译（仅供参考,不足之处望批评指正。）
Chapter 1 Accounting会计Accounting equation会计等式Assets资产Auditors审计师Balance sheet资产负债表Bookkeeping记账Business entity assumption会计主体原则Common stock普通股Corporation公司Cost principle成本原则Equity权益Ethics伦理Events事项Expanded accounting equation扩展的会计等式Expenses费用External transactions外部交易External users外部信息使用者Financial accounting财务会计FASB美国财务会计准则委员会Full disclosure principle充分披露原则GAAP公认会计原则Going-concern assumption持续经营原则Income statement损益表Internal transactions内部交易Internal users内部信息使用者IASB国际会计准则理事会Liabilities负债Managerial accounting管理会计Matching principle配比原则Monetary unit assumption货币单位原则Net income净收益Net loss净损失Owner ,Capital所有者名下的资本Owner investment所有者投资Owner withdrawals所有者提取Partnership合伙企业Proprietorship独资企业Recordkeeping记账Revenue recognition principle收入确认原则Revenues收入Sarbanes –Oxley Act《萨班斯—奥克斯利法案》SEC证劵交易委员会Shareholders股东Shares股份Sole proprietorship个人独资企业Statement of cash flows现金流量表Statement of owner’s equity所有者权益表Stock股票Stockholders股东Time period assumption会计分期原则Withdrawals提取Chapter 2 Account账户Account balance账户余额Balance column account三栏式账户Chart of accounts会计科目表Compound journal entry复合日记账分录Credit贷方Creditors债权人Debit借方Debtors债务人Double-entry accounting复式记账法General journal普通日记账General ledger总分类账Journal日记账Journalizing 登记日记账Ledger分类账Posting过账(PR) column过账索引栏Source documents原始凭证T-account T型账户Trial balance试算平衡表Unearned revenue预收收入Chapter 3 Accounting period会计期间Accrual basis accounting权责发生制会计Accrued expenses应计费用Accrued revenues应计收入Adjusted trial balance调整后试算平衡表Adjusting entry调整分录Annual financial statements年度财务报表Book value账面价值Cash basis accounting收付实现制会计Contra account备抵账户Depreciation折旧Fiscal year会计年度Interim financial statements中期财务报表Matching principle配比原则Natural business year自然营业年度Plant assets固定资产Prepaid expenses预付费用Straight-line depreciation method直线折旧法Time period assumption会计分期原则Unadjusted trial balance调整前的试算平衡表Unearned revenues 预收收入Chapter 4 Accounting cycle会计循环Classified balance sheet分类资产负债表Closing entries结账分录Closing process结账过程Current assets流动资产Current liabilities流动负债Income summary损益汇总账户Intangible assets无形资产Long-term investments长期投资Long-term liabilities长期负债Operating cycle营业周期Permanent accounts永久性账户Post-closing trial balance结账后试算平衡表Pro forma financial statements预测财务报表Temporary accounts临时性账户Unclassified balance sheet未分类资产负债表Working papers工作底稿Work sheet工作底表Chapter 5 Cash discount现金折扣Cost of goods sold商品销售成本Credit memorandum贷记通知单Credit period 信用期Credit terms信用条件Debit memorandum借记通知单Discount period折扣期EOM月末FOB交货点General and administrative expenses一般及行政管理费用Gross margin毛利Gross profit毛利Inventory存货List price价目表价格Merchandise 商品Merchandise inventory库存商品Merchandiser商业企业Multiple-step income statement多步式损益表Periodic inventory system定期盘存制Perpetual inventory system永续盘存制Purchase discount购货折扣Retailer零售商Sales discount销售折扣Selling expenses销售费用Shrinkage损耗Single-step income statement单步式损益表Supplementary records辅助记录Trade discount商业折扣Wholesaler批发商Chapter 6 A verage cost平均成本Conservatism constraint稳健性原则Consignee 收货人Consignor发货人Consistency concept一致性原则FIFO先进先出法Interim statements中期报告LIFO后进先出法LCM成本与市价孰低法Net realizable value可变现净值Specific identification个别认定法Weighted average加权平均法Chapter 7 Accounts payable ledger应付账款分类账Accounts receivable ledger应收账款分类账Cash disbursements journal现金支出日记账Cash receipts journal现金收入日记账Check register支票登记薄Columnar journal多栏式日记账Compatibility principle适应性原则Controlling account统驭账户Control principle控制原则Cost-benefit principle成本—收益原则Flexibility princ iple灵活性原则General journal普通日记账Internal controls内部控制Purchases journal购货日记账Relevance principle相关性原则Sales journal销售日记账Schedule of accounts payable应付账款明细表Schedule of accounts receivable应收账款明细表Special journal特种日记账Subsidiary ledger明细分类账Chapter 8 Bank reconciliation银行存款余额调节表Bank statement银行对账单Canceled checks注销支票Cash 现金Cash equivalents现金等价物Cash over and short现金溢缺Check支票Deposit ticket存款单Deposits in transit在途存款EFT电子资金转账Internal control system内部控制制度Liquid assets流动资产Liquidity偿债能力Outstanding checks未兑现支票Petty cash备用金Principles of internal control内部控制原则Sarbanes-Oxley Act《萨班斯—奥克斯利法案》Signature card印鉴卡V oucher 凭单V oucher system凭单制Chapter 9 Accounts receivable应收账款Aging of accounts receivable应收账款账龄分析Allowance for Doubtful Accounts呆帐准备金Allowance method备抵法Bad debts坏账Direct write-off method直接核销法Interest 利息Maker of the note出票人Matching principle配比原则Materiality constraint重要性约束Maturity date of a note票据到期日Payee of the note票据收款人Principal of a note票据的本金Promissory note票据Realizable value可变现价值Chapter 10 Accelerated depreciation method加速折旧法Amortization摊销Asset book value资产账面价值Betterments改良工程投资Capital expenditures资本支出Change in an accounting estimate会计估计变更Copyright版权Cost成本Declining-balance method余额递减法Depletion折耗Depreciation折旧Extraordinary repairs非常修理Franchises特许权Goodwill商誉Impairment减损Inadequacy生产能力不足Indefinite life不确定使用年限Intangible assets无形资产Land improvements土地改良物Lease租约Leasehold租赁权Leasehold improvements租赁资产改良Lessee承租人Lessor 出租人Licenses特许权Limited life有限使用年限MACRS修正后的加速成本回收制度Natural resources自然资源Obsolescence陈旧，过时Ordinary repairs日常维修Patent专利权Plant asset age固定资产寿命Plant assets固定资产Plant asset useful life固定资产使用年限Revenue expenditures收益性支出Salvage value残值Straight-line depreciation直线折旧法Trademark or trade (brand) name商标或品牌Units-of-production depreciation工作量法Useful life使用年限Chapter 11 Contingent liability或有负债Current liabilities流动负债Current portion of long-term debt一年内到期的长期负债Employee benefits员工福利Estimated liability估计负债（FICA）Taxes联邦社会保险税FUTA联邦失业税Gross pay薪资总额Known liabilities已知负债Long-term liabilities长期负债Merit rating考绩Net pay薪资净额Payroll deductions薪资扣款Short-term note payable短期应付票据SUTA州失业救济税Warranty保修Chapter 12Bond 债券Bond certificate债券证书Bond indenture债券契约Carrying (book) value of bonds债券账面价值Discount on bonds payable应付债券折旧Installment note分期付款期票Market rate市场利率Mortgage抵押权Pension plan养老金计划Premium on bonds债券溢价Par value of a bond债券面值Straight-line bond amortization债券利息直线摊销法Chapter 13(AFS) securities可供出售证劵Comprehensive income综合收益Consolidated financial statements合并财务报表Equity method权益法Equity securities with controlling influence具有控制权的权益类证劵Equity securities with significant influence具有重大影响力的权益类证劵(HTM) securities持有至到期证劵Long-term investments长期投资Parent母公司Short-term investments短期投资Subsidiary子公司Trading securities交易性证劵Unrealized gain (loss)未实现收益（损失）Chapter 14Appropriated retained earnings拨定留存收益Authorized stock核定股本Call price赎回价格Callable preferred stock可赎回优先股Capital stock股本Changes in accounting estimates会计估计变更Common stock普通股Convertible preferred stock可转换优先股Corporation股份制公司Cumulative preferred stock累积优先股Date of declaration股利宣告日Date of payment股利发放日Date of record股权登记日Discount on stock股票折旧Dividend in arrears积欠股利Financial leverage财务杠杆Large stock dividend大额股票股利Liquidating cash dividend清算性现金股利Market value per share每股市价Minimum legal capital最低法定资本Noncumulative preferred stock非累积优先股Nonparticipating preferred stock非参与式股票No-par value stock无面值股票Organization expenses组建费Paid-in capital实收资本Paid-in capital in excess of par value资本溢价Participating preferred stock参与式股票Par value面值Par value stock有面值股票Preemptive right优先认股权Preferred stock优先股Premium on stock股票溢价Prior period adjustments前期损益调整Proxy授权委托书Restricted retained earnings限定用途留存收益Retained earnings 留存收益Retained earnings deficit留存收益赤字Reverse stock split并股Small stock dividend小额股票股利Stated value stock设定价值股票Statement of stockholders’ equity股东权益表Stock dividend股票股利Stock options股票期权Stock split股票分割Stockholders’ equity股东权益Treasury stock库藏股教你如何用WORD文档(2012-06-27 192246)转载▼标签：杂谈1. 问：WORD 里边怎样设置每页不同的页眉？如何使不同的章节显示的页眉不同？答：分节，每节可以设置不同的页眉。
国际会计International Accounting(chapter1)
10
In debt-oriented capital market: Companies annual reports tends to be more matter-of fact. Cause:Bank financing is the main source of capital for companies in those countries.The banker providing the loan doesn’t mainly depend on the annual reports (2) Substantive level equity-oriented capital market : Since stockholders are the primary providers of capital, the companies try to put the best face on them. Debt-oriented capital market : There is a tendency to under report earnings. e.g. German firms’ earnings computed in acc. principles are lower than that computed in U.S. acc. principles
11
(二) the level of sophistication of financial instruments equity-oriented countries-----complex and innovative financial instruments Debt-oriented countries----relatively simple (三) the level of globalization of capital markets -----The influence will vary with the type of nondomestic firms that enter a country’s capital market If the entering firms are from a country with high financial reporting and disclosure requirements,this will raise the level of financial reporting e.g. U.S. firms list on the London Stock Exchange
Advanced Accounting (1)
Investments classified as Trading Securities: Held for sale in the short term. Unrealized holding gains and losses are included in earnings.
1-5
Fair Valuencial Statements
Required when: Investor’s ownership exceeds 50% of an organization’s outstanding voting stock
except when control does not rest with the majority investor
Technological dependency
Other investee ownership percentages
1-13
Limitations of Equity Method Applicability
The equity method is not appropriate for investments that demonstrate any of the following characteristics regardless of the investor’s degree of ownership: • An agreement exists between investor and investee by which the investor surrenders significant rights as a shareholder. • A concentration of ownership operates the investee without regard for the views of the investor. • The investor attempts but fails to obtain representation on the investee’s board of directors.
会计学原理知识点归纳(第1-6章)
会计学原理知识点归纳（第一、二章）班级：13国会2班助教：席梦娇第一章知识点梳理1.accounting：熟记定义ers of accounting information：external users：例如…（主要使用financial accounting）internal users：例如…（主要使用managerial accounting）3.fundamentals of accounting（1）GAAP：two organizations to establish GAAP private group：FASBgovernment group：SEC（2）IFRS：issued by IASB< international accounting standard aboard> （3）accounting principles：熟记四条principles的定义（4）accounting assumptions：熟记四条assumptions的定义，了解business entities的分类4.accounting equation：重点掌握5.financial statements：熟记四表一注的构成及编制顺序第二章知识点梳理：1.source documents：熟记定义2.account、general ledger、T-account ：熟记书写格式3.double-entry accounting：注意理解（每一笔分录有Dr.必有Cr.，Dr. Cr.必相等）4.recording process：analyzing journals post to ledger trial balance5.preparing trial balance：重点掌握编制步骤Chapter 31.accounting period：常用的几种会计分期2.accrual basis VS cash basis：熟记定义，常考点，可能出名词解释。
会计英语考试秘笈
一．定义1.accounting 会计：Accounting is an information system that identifies ,records ,and communicates relevant ,reliable ,and comparable information about organization’s business activities that can be expressed inmonetary terms.会计是一个信息系统，用于确认、记录和披露企业可以用货币计量的经营活动相关的、可靠的、可比的信息。
2．public accounting 公共会计：Public accounting is the field of accounting that provides a variety of accounting services to clients for a fee.公共会计是指为客户提供多种服务并收取服务费的会计领域。
3. accrual basis of accounting 权责发生制：Using the accrual basis of accountingmeans that revenues , expenses and other changes in assets ,liabilities ,and owners’equity are accounted for in the period inwhich the economic event takes place ,notnecessarily when the cash inflows and outflows take place.在权责发生制下，收入、费用、资产、负债和所有者权益的变动应记录与交易发生的时期，而不是相关的现金流入或流出的时期。
4.assets资产：Assets are resources with future benefits that are owned or controlled by a company.资产是指企业所拥有或控制的、能够在未来给企业带来利益的资源。
会计学原理英文版一单元习题
1. Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities.2. Bookkeeping is the recording of transactions and events and is only part of accounting.3. An accounting information system communicates data to help businesses make better decisions.4. Managerial accounting is the area of accounting that provides internal reports to assist the decision making needs of internal users.5. Internal operating activities include research and development, distribution, and human resources.6. The primary objective of financial accounting is to provide general purpose financial statements to help external users analyze and interpret an organization's activities.7. External auditors examine financial statements to verify that they are prepared according to generally accepted accounting principles.8. External users include lenders, shareholders, customers, and regulators.9. Regulators often have legal authority over certain activities of organizations.10. Internal users include lenders, shareholders, brokers and managers.11. Opportunities in accounting include auditing, consulting, market research, and tax planning.12. Identifying the proper ethical path is easy.13. The Sarbanes-Oxley Act (SOX) requires each issuer of securities to disclose whether is has adopted a code of ethics for its senior financial officers and the contents of that code.14. The fraud triangle asserts that there are three factors that must exist for a person to commit fraud; these factors are opportunity, pressure, and rationalization.15. The Sarbanes-Oxley Act (SOX) does not require public companies to apply both accounting oversight and stringent internal controls.16. A partnership is a business owned by two or more people.17. Owners of a corporation are called shareholders or stockholders.18. In the partnership form of business, the owners are called stockholders.19. The balance sheet shows a company’s net income or loss due to earnings activities over a period of time.20. The Financial Accounting Standards Board is the private group that sets both broad and specific accounting principles.21. The business entity principle means that a business will continue operating for an indefinite period of time.22. Generally accepted accounting principles are the basic assumptions, concepts, and guidelines for preparing financial statements.23. The business entity assumption means that a business is accounted for separately from other business entities, including its owner or owners.24. As a general rule, revenues should not be recognized in the accounting records until it is received in cash.25. Specific accounting principles are basic assumptions, concepts, and guidelines for preparing financial statements and arise out of long-used accounting practice.26. General accounting principles arise from long-used accounting practices.27. A sole proprietorship is a business owned by one or more persons.28. Unlimited liability is an advantage of a sole proprietorship.29. Understanding generally accepted accounting principles is not necessary to use and interpret financial statements.30. The International Accounting Standards board (IASB) has the authority to impose its standards on companies around the world.31. Objectivity means that financial information is supported by independent unbiased evidence.32. The idea that a business will continue to operate instead of being closed or sold underlies the going-concern assumption.33. According to the cost principle, it is preferable for managers to report an estimate of an asset's value.34. The monetary unit assumption means that all international transactions must be expressed in dollars.35. The International Accounting Standards Board (IASB) is the government group that establishes reporting requirements for companies that issue stock to the public. 36. A limited liability company offers the limited liability of a partnership or proprietorship and the tax treatment of a corporation.37. The Securities and Exchange Commission (SEC) is a government agency that has legal authority to establish GAAP.38. The three common forms of business ownership include sole proprietorship, partnership, and non-profit.39. The three major types of business activities are operating, financing, and investing.40. Planning is defining an organization's ideas, goals, and actions.41. Strategic management is the process of determining the right mix of operating activities for the type of organization, its plans, and its markets.42. Planning activities are the means an organization uses to pay for resources like land, buildings, and equipment to carry out its plans.43. Investing activities are the acquiring and disposing of resources that an organization uses to acquire and sell its products or services.44. Owner financing refers to resources contributed by creditors or lenders.45. Revenues are increases in equity from a company's earning activities.46. A net loss occurs when revenues exceed expenses.47. Net income occurs when revenues exceed expenses.48. Liabilities are the owner's claim on assets.49. Assets are the resources of a company and are expected to yield future benefits.50. Owner’s withdrawals are expenses.51. The accounting equation can be restated as: Assets - Equity = Liabilities.52. The accounting equation implies that: Assets + Liabilities = Equity.53. Owner's investments are increases in equity from a company's earnings activities.54. Every business transaction leaves the accounting equation in balance.55. An external transaction is an exchange of value within an organization.56. From an accounting perspective, an event is a happening that affects the accounting equation, but cannot be measured.57. Owner's equity is increased when cash is received from customers in payment of previously recorded accounts receivable.58. An owner's investment in a business always creates an asset (cash), a liability (note payable), and owner's equity (investment.)59. Return on assets is often stated in ratio form as the amount of average total assets divided by income.60. Return on assets is also known as return on investment.61. Return on assets is useful to decision makers for evaluating management, analyzing and forecasting profits, and in planning activities.62.Arrow’s net income of $117 million and average assets of $1,400 million results in a return on assets of 8.36%.63. Return on assets reflects the effectiveness of a company’s ability to generate profit through productive use of its assets.64. Risk is the uncertainty about the return we expect to earn.65. Generally the lower the risk, the lower the return that can be expected.66. U. S. Government Treasury bonds provide high return and low risk to investors.67. The four basic financial statements include the balance sheet, income statement, statement of owner's equity, and statement of cash flows.68. An income statement reports on investing and financing activities.69. A balance sheet covers a period of time such as a month or year.70. The income statement displays revenues earned and expenses incurred over a specified period of time due to earnings activities.71. The statement of cash flows shows the net effect of revenues and expenses for a reporting period.72. The income statement shows the financial position of a business on a specific date.73. The first section of the income statement reports cash flows from operating activities.74. The balance sheet is based on the accounting equation.75. Investing activities involve the buying and selling of assets such as land and equipment that are held for long-term use in the business.76. Operating activities include long-term borrowing and repaying cash from lenders, and cash investments or withdrawals by the owner.77. The purchase of supplies appears on the statement of cash flows as an investing activity because it involves the purchase of assets.78. The income statement reports on operating activities at a point in time.79. The statement of cash flows identifies cash flows separated into operating, investing, and financing activities over a period of time.80. Ending capital reported on the statement of owner’s equity is calculated by adding owner investments and net losses and subtracting net incomes and withdrawals. Multiple Choice Questions81. Accounting is an information and measurement system that does all of the following except:A. Identifies business activities.B. Records business activities.C. Communicates business activities.D. Does not use technology to improve accuracy in reporting.E. Helps people make better decisions.82. Technology:A. Has replaced accounting.B. Has not changed the work that accountants do.C. Has closely linked accounting with consulting, planning, and other financial services.D. In accounting has replaced the need for decision makers.E. In accounting is only available to large corporations.83.The primary objective of financial accounting is:A. To serve the decision-making needs of internal users.B. To provide financial statements to help external users analyze an organization's activities.C. To monitor and control company activities.D. To provide information on both the costs and benefits of looking after products and services.E. To know what, when, and how much to produce.84.The area of accounting aimed at serving the decision making needs of internal users is:A. Financial accounting.B. Managerial accounting.C. External auditing.D. SEC reporting.E. Bookkeeping.85.External users of accounting information include all of the following except:A. Shareholders.B. Customers.C. Purchasing managers.D. Government regulators.E. Creditors.86. All of the following regarding a Certified Public Accountant are true except:A. Must meet education and experience requirements.B. Must pass an examination.C. Must exhibit ethical character.D. May also be a Certified Management Accountant.E. Cannot hold any certificate other than a CPA.87. Ethical behavior requires:A. That auditors' pay not depend on the success of the client's business.B. Auditors to invest in businesses they audit.C. Analysts to report information favorable to their companies.D. Managers to use accounting information to benefit themselves.E. That auditors' pay depend on the success of the client's business.88. Social responsibility:A. Is a concern for the impact of our actions on society.B. Is a code that helps in dealing with confidential information.C. Is required by the SEC.D. Requires that all businesses conduct social audits.E. Is limited to large companies.89. All of the following are true regarding ethics except:A. Ethics are beliefs that separate right from wrong.B. Ethics rules are often set for CPAs.C. Ethics do not affect the operations or outcome of a company.D. Are critical in accounting.E. Ethics can be hard to apply.90. The accounting concept that requires financial statement information to be supported by independent, unbiased evidence other than someone's belief or opinion is:A. Business entity assumption.B. Monetary unit assumption.C. Going-concern assumption.D. Time-period assumption.E. Objectivity91. A corporation:A. Is a business legally separate from its owners.B. Is controlled by the FASB.C. Has shareholders who have unlimited liability for the acts of the corporation.D. Is the same as a limited liability partnership.E. Is not subject to double taxation.92. The group that attempts to create more harmony among the accounting practices of different countries is the:A. AICPA.B. IASB.C. CAP.D. SEC.E. FASB.93. The private group that currently has the authority to establish generally accepted accounting principles in the United States is the:A. APB.B. FASB.C. AAA.D. AICPA.E. SEC.94. The accounting assumption that requires every business to be accounted for separately from other business entities, including its owner or owners is known as the:A. Time-period assumption.B. Business entity assumption.C. Going-concern assumption.D. Revenue recognition principle.E. Cost principle.95. The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the:A. Going-concern assumption.B. Business entity assumption.C. Objectivity principle.D. Cost Principle.E. Monetary unit assumption.96. If a parcel of land that was originally acquired for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000, the land should be recorded in the purchaser's books at:A. $95,000.B. $137,000.C. $138,500.D. $140,000.E. $150,000.97. To include the personal assets and transactions of a business's owner in the records and reports of the business would be in conflict with the:A. Objectivity principle.B. Monetary unit assumption.C. Business entity assumption.D. Going-concern assumption.E. Revenue recognition principle.98. The accounting principle that requires accounting information to be based on actual cost and requires assets and services to be recorded initially at the cash orcash-equivalent amount given in exchange, is the:A. Accounting equation.B. Cost principle.C. Going-concern assumption.D. Realization principle.E. Business entity assumption.99. The rule that (1) requires revenue to be recognized at the time it is earned, (2) allows the inflow of assets associated with revenue to be in a form other than cash, and (3) measures the amount of revenue as the cash plus the cash equivalent value of any noncash assets received from customers in exchange for goods or services, is called the:A. Going-concern assumption.B. Cost principle.C. Revenue recognition principle.D. Objectivity principle.E. Business entity assumption.100. The question of when revenue should be recognized on the income statement (according to GAAP) is addressed by the:A. Revenue recognition principle.B. Going-concern assumption.C. Objectivity principle.D. Business entity assumption.E. Cost principle.101. The International Accounting Standards Board (IASB):A. Hopes to create harmony among accounting practices of different countries.B. Is the government group that establishes reporting requirements for companies that issue stock to the public.C. Has the authority to impose its standards on companies.D. Is the only source of generally accepted accounting principles (GAAP).E. Only applies to companies that are members of the European Union.102. The Maxim Company acquired a building for $500,000. Maxim had the building appraised, and found that the building was easily worth $575,000. The seller had paid $300,000 for the building 6 years ago. Which accounting principle would require Maxim to record the building on its records at $500,000?A. Monetary unit assumption.B. Going-concern assumption.C. Cost principle.D. Business entity assumption.E. Revenue recognition principle.103. On December 15 of the current year, Myers Legal Services signed a $50,000 contract with a client to provide legal services to the client in the following year. Which accounting principle would require Myers Legal Services to record the legal fees revenue in the following year and not the year the cash was received?A. Monetary unit assumption.B. Going-concern assumption.C. Cost principle.D. Business entity assumption.E. Revenue recognition principle.104. Marian Mosely is the owner of Mosely Accounting Services. Which accounting principle requires Marian to keep her personal financial information separate from the financial information of Mosely Accounting Services?A. Monetary unit assumption.B. Going-concern assumption.C. Cost principle.D. Business entity assumption.E. Matching principle.105. A limited partnership:A. Includes a general partner with unlimited liability.B. Is subject to double taxation.C. Has owners called stockholders.D. Is the same as a corporation.E. May only have two partners.106. A partnership:A. Is also called a sole proprietorship.B. Has unlimited liability for its partners.C. Has to have a written agreement in order to be legal.D. Is a legal organization separate from its owners.E. Has owners called shareholders.107. Which of the following accounting principles would require that all goods and services purchased be recorded at cost?A. Going-concern assumption.B. Matching principle.C. Cost principle.D. Business entity assumption.E. Consideration assumption.108. Which of the following accounting principles prescribes that a company record its expenses incurred to generate the revenue reported?A. Going-concern assumption.B. Matching principle.C. Cost principle.D. Business entity assumption.E. Consideration assumption.109. Revenue is properly recognized:A. When the customer's order is received.B. Only if the transaction creates an account receivable.C. At the end of the accounting period.D. Upon completion of the sale or when services have been performed and the business obtains the right to collect the sales price.E. When cash from a sale is received.110. If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000, the land account transaction amount to handle the sale of the land in the seller's books is:A. $85,000 increase.B. $85,000 decrease.C. $137,000 increase.D. $137,000 decrease.E. $140,000 decrease.111. If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. What is the effect of the sale on the accounting equation for the seller?A. Assets increase $52,000; owner's equity increases $52,000.B. Assets increase $85,000; owner's equity increases $85,000.C. Assets increase $137,000; owner's equity increases $137,000.D. Assets increase $140,000; owner's equity increases $140,000.E. Assets decrease $85,000; owner's equity decreases $85,000.112. If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. At the time of the sale, assume that the seller still owed $30,000 to TrustOne Bank on the land that was purchased for $85,000. Immediately after the sale, the seller paid off the loan to TrustOne Bank. What is the effect of the sale and the payoff of the loan on the accounting equation?A. Assets increase $52,000; owner's equity increases $22,000; liabilities decrease $30,000B. Assets increase $52,000; owner's equity increases $30,000; liabilities decrease $30,000C. Assets increase $22,000; owner's equity increases $52,000; liabilities decrease $30,000D. Assets decrease $30,000; owner's equity decreases $30,000; liabilities decrease $30,000E. Assets decrease $55,000; owner's equity decreases $55,000; liabilities decrease $30,000113. An example of a financing activity is:A. Buying office supplies.B. Obtaining a long-term loan.C. Buying office equipment.D. Selling inventory.E. Buying land.114. An example of an operating activity is:A. Paying wages.B. Purchasing office equipment.C. Borrowing money from a bank.D. Selling stock.E. Paying off a loan.115. Operating activities:A. Are the means organizations use to pay for resources like land, buildings and equipment.B. Involve using resources to research, develop, purchase, produce, distribute and market products and services.C. Involve acquiring and disposing of resources that a business uses to acquire and sell its products or services.D. Are also called asset management.E. Are also called strategic management.116. An example of an investing activity is:A. Paying wages of employees.B. Withdrawals by the owner.C. Purchase of land.D. Selling inventory.E. Contribution from owner.117. Net Income:A. Decreases equity.B. Represents the amount of assets owners put into a business.C. Equals assets minus liabilities.D. Is the excess of revenues over expenses.E. Represents owners' claims against assets.118. If equity is $300,000 and liabilities are $192,000, then assets equal:A. $108,000.B. $192,000.C. $300,000.D. $492,000.E. $792,000.119. Resources that are expected to yield future benefits are:A. Assets.B. Revenues.C. Liabilities.D. Owner's Equity.E. Expenses.120. Increases in equity from a company's earnings activities are:A. Assets.B. Revenues.C. Liabilities.D. Owner's Equity.E. Expenses.121. The difference between a company's assets and its liabilities, or net assets is:A. Net income.B. Expense.C. Equity.D. Revenue.E. Net loss.122. Creditors' claims on the assets of a company are called:A. Net losses.B. Expenses.C. Revenues.D. Equity.E. Liabilities.123. Decreases in equity that represent costs of assets or services used to earn revenues are called:A. Liabilities.B. Equity.C. Withdrawals.D. Expenses.E. Owner's Investment.124. The description of the relation between a company's assets, liabilities, and equity, which is expressed as Assets = Liabilities + Equity, is known as the:A. Income statement equation.B. Accounting equation.C. Business equation.D. Return on equity ratio.E. Net income.125. Revenues are:A. The same as net income.B. The excess of expenses over assets.C. Resources owned or controlled by a companyD. The increase in equity from a company’s earning activities.E. The costs of assets or services used.126. If assets are $99,000 and liabilities are $32,000, then equity equals:A. $32,000.B. $67,000.C. $99,000.D. $131,000.E. $198,000.127. Another name for equity is:A. Net income.B. Expenses.C. Net assets.D. Revenue.E. Net loss.128. The excess of expenses over revenues for a period is:A. Net assets.B. Equity.C. Net loss.D. Net income.E. A liability.129. A payment to an owner is called a(n):A. Liability.B. Withdrawal.C. Expense.D. Contribution.E. Investment.130. Distributions of assets by a business to its owners are called:A. Withdrawals.B. Expenses.C. Assets.D. Retained earnings.E. Net Income.131. The assets of a company total $700,000; the liabilities, $200,000. What are the claims of the owners?A. $900,000.B. $700,000.C. $500,000.D. $200,000.E. It is impossible to determine unless the amount of this owners' investment is known.132. On June 30 of the current year, the assets and liabilities of Phoenix, Inc. are as follows: Cash $20,500; Accounts Receivable, $7,250; Supplies, $650; Equipment, $12,000; Accounts Payable, $9,300. What is the amount of owner's equity as of June 30 of the current year?A. $8,300B. $13,050C. $20,500D. $31,100E. $40,400133. Assets created by selling goods and services on credit are:A. Accounts payable.B. Accounts receivable.C. Liabilities.D. Expenses.E. Equity.134. An exchange of value between two entities is called:A. The accounting equation.B. Recordkeeping or bookkeeping.C. An external transaction.D. An asset.E. Net Income.135. Photometer Company paid off $30,000 of its accounts payable in cash. What would be the effects of this transaction on the accounting equation?A. Assets, $30,000 increase; liabilities, no effect; equity, $30,000 increase.B. Assets, $30,000 decrease; liabilities, $30,000 decrease; equity, no effect.C. Assets, $30,000 decrease; liabilities, $30,000 increase; equity, no effect.D. Assets, no effect; liabilities, $30,000 decrease; equity, $30,000 increase.E. Assets, $30,000 decrease; liabilities, no effect; equity $30,000 decrease.136. How would the accounting equation of Boston Company be affected by the billing of a client for $10,000 of consulting work completed?A. +$10,000 accounts receivable, -$10,000 accounts payable.B. +$10,000 accounts receivable, +$10,000 accounts payable.C. +$10,000 accounts receivable, +$10,000 cash.D. +$10,000 accounts receivable, +$10,000 revenue.E. +$10,000 accounts receivable, -$10,000 revenue.137. Zion Company has assets of $600,000, liabilities of $250,000, and equity of $350,000. It buys office equipment on credit for $75,000. What would be the effects of this transaction on the accounting equation?A. Assets increase by $75,000 and expenses increase by $75,000.B. Assets increase by $75,000 and expenses decrease by $75,000.C. Liabilities increase by $75,000 and expenses decrease by $75,000.D. Assets decrease by $75,000 and expenses decrease by $75,000.E. Assets increase by $75,000 and liabilities increase by $75,000.138. Viscount Company collected $42,000 cash on its accounts receivable. The effects of this transaction as reflected in the accounting equation are:A. Total assets decrease and equity increases.B. Both total assets and total liabilities decrease.C. Total assets, total liabilities, and equity are unchanged.D. Both total assets and equity are unchanged and liabilities increase.E. Total assets increase and equity decreases.139. If the liabilities of a business increased $75,000 during a period of time and the owner's equity in the business decreased $30,000 during the same period, the assets of the business must have:A. Decreased $105,000.B. Decreased $45,000.C. Increased $30,000.D. Increased $45,000.E. Increased $105,000.140. If the assets of a business increased $89,000 during a period of time and its liabilities increased $67,000 during the same period, equity in the business must have:A. Increased $22,000.B. Decreased $22,000.C. Increased $89,000.D. Decreased $156,000.E. Increased $156,000.141. If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets?A. Assets would have increased $55,000.B. Assets would have decreased $55,000.C. Assets would have increased $19,000.D. Assets would have decreased $19,000.E. None of these.142. If a company paid $38,000 of its accounts payable in cash, what was the effect on the assets, liabilities, and equity?A. Assets would decrease $38,000, liabilities would decrease $38,000, and equity would decrease $38,000.B. Assets would decrease $38,000, liabilities would decrease $38,000, and equity would increase $38,000.C. Assets would decrease $38,000, liabilities would decrease $38,000, and equity would not change.D. There would be no effect on the accounts because the accounts are affected by the same amount.E. None of these.。
Accounting-Lesson 1 Review of Accounting Cycle
Step 3 Posting to ledger accounts
Subsidiary ledger Special journal General journal
Ledger accounts
Ledger
Account 1 Account 2 Account 3 . . . Account n
Chart of Accounts
E-mail: allenyang40500@
Objectives
After learning this course, you should master the important glossaries and expressions in English in the areas of accounting, be able to read financial statements and relevant professional articles in English
Your Participation
Preparing texts or materials before class 3 person groups: case study, idea sharing or talent performing Quiz on glossary after each lesson
To serve as a general check to determine if the debits and credits in the general ledger are equal. To show all general ledger account balances on one concise record.
1-accounting
M--- Information destined for managers aimed at meeting needs of information users on different levels of organizational structures
2》regulation
--- Profit measurement and reporting
--- preparation of finanacial statements（balance sheet and p&l）
---archiving source evidence
--- Auditing and publishing financial statements
会计定义1. what is accounting
accounting is the art of recording , classifying , and summarizing in a significant manner and in terms of money, transactions and event which are , in part at least , of a financial and interpreting the results thereof
管理会计6. What is management accounting?
--- Information system for purposes of managing an entity
--- process of generating and applying both financial and non-financial information necessary for managing the company , that is aimed at easing up the decision markets to resolve strategic and day to day operational management issues
会计专业英语课件Chapter 1
15
Financial accounting
➢ Financial accounting refers to information describing the financial resources, obligations, and activities of an economic entity (either an organization or an individual).
stock and called paid-in capital. • Stockholders have no legal right to expect any payments on a regular basis.
The payments paid to stockholds.
➢ 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
➢ An unincorporated business only owned by one person.
会计英语作业一
会计英语作业⼀Accounting Exercises OneⅠ. Match the terms in column A with the definitions in column BA B1. government accountant a. provide useful information for decision-making2. objectives of financial accounting b person must pass a series of examinations andmeet certain other requirements3. private accountant c. work for one employer and offer services such asAccounting, budgeting, and internal auditing4. Certified Public Accountant d. audit tax returns and accumulate financial informationfor federal, provincial, and municipal agencies5. public accountant e. the language of business6. accounting f. offer auditing, management advisory, and tax services7. comprehensive income g. notes payable8. revenues h. sales9. expenses i. interest paid to bank10. gains j. distributions of cash dividends to owners11. losses k. services received as investments by owners12. assets l. land13. liabilities m. losses from incidental transactions of an entity14. equity or net assets n. change in equity of an entity from transactions andcircumstances from non-owner sources15. investments by owners o. residual interest in the assets of an entity16. distributions to owners p. increases in equity from peripheral transactions of an entityⅡ. Decide whether the following statements are true or false. Write T for true and F for false( ) 1. Accountants have an ethical obligation to maintain only moral competence.( ) 2. Accounting equation accounts for the common quantitative relation among accounting elements: Assets = Liabilities + Owner’s Equity( ) 3. Accounting is a system of gathering, summarizing and communicating financial information for a business firm, government or other organizations.( ) 4. Journal entries are made before they have been entered into the ledger accounts.( ) 5. The equality of a trial balance means that there are no error made in the previous accounting procedures. ( ) 6. If at the end of an accounting period there is a debit balance in the income summary account, this means that the revenue has exceeded expense.( ) 7. The important role of the worksheet is to aid the accountant by bringing together all the data needed for preparing financial statements.( ) 8. A worksheet is a substitute for the financial statements.( ) 9. Account Receivable is classified as a current asset.( ) 10. The Allowance for Uncollectible Accounts is a liability because it usually has a net credit ending balance. ( ) 11. Recoveries of an account previously written off are, when an Allowance ofr Uncollectible Accounts account is used, credited to the Bad Debts account.( ) 12. Weighted Average method assigns different unit cost to the same inventory item under both the perpetual inventory system and the periodic inventory method.( ) 13. Inventory pricing methods can be changed from period to period at will to control net income.( ) 14. Under the perpetual inventory system, the Cost of Goods Sold account is debited and the Merchandise Inventory account is credited for each sale of merchandise inventory.( ) 15. When the FIFO method of costing inventory is used, costs are assumed to be charged against revenue in the order in which they are incurred.Ⅲ. Choose the best answer1. Which of the following describes accounting?A. is the language of businessB. is an information systemC. is useful decision makingD. all of the above2. An accounting process includes all of the following steps except ____.A. analyzingB. planningC. classifyingD. summarizing3. Accounting information is used by ____.A. businessesB. government regulation agenciesC. labor unionsD. all of the above4. Traylor Company paid $2,850 on account. The effect of this transaction on the accounting equation is to ____.A. decrease assets and decrease owner’s equityB. increase liabilities and decrease owner’s equity.C. have no effect on total assetsD. decrease assets and decrease liabilities5. Which of these is/ are an example of an asset account? ____.A. CashB. Accounts receivableC. InvestmentsD. All of the above6. The ending Cash account balance is $57,600. during the period, cash receipts equal $124,300. If the cash payments during the period total $135,100, then the beginning Cash amount must have ____.A. $68,400B.$46,800C. $181,900D. Cannot be determined from the information given.7. During 2007, Bustamante Co. incurred salary expense of $240,000. Beginning and ending Salary Payable was $4,000 and $8,000, respectively. In 2007, Bustamante paid salaries of ____.A. $248,000B. $240,000C. $236,000D. $244,0008. An adjusting entry could contain all of following except ____.A. a debit to Unearned RevenueB. a credit to CashC. a debit to Interest ReceivableD. a credit to Salary Payable9. The intangible asset goodwill may be: .A. capitalized only when purchased.B. capitalized either when purchased or created internally.C. capitalized only when created internallyD. written off directly to retained earnings.10. For a non-monetary exchange of plant assets, if the exchange lacks commercial substance, accounting recognition should not be given to: . A. a loss when the assets exchanged. B. a gain when the assets exchangedC. part of a gain when the assets exchanged and cash is received.D. no gain or lass.11. You own a Lawn Service business. If you charge a customer $30 for mowing their lawn, what is the $30 to your business? . A. Revenue. B. An expense. C. A liability D. An obligation12. If total assets were $900,000 and total liabilities were $300,000, the owner’s equity would be:.A. $ 300,000B. $ 600,000C. $ 1200,000D. $ 900,00013. Land is purchased with cash for $40,000. What effect will this transaction have on the accounting equation? .A. Increase assets and owner’s equity by $40,000.B. Increase assets and liabilities by $40,000.C. Decrease owner’s equity by $40,000 and increase assets by $40,000D. No net effect on any of the accounting equation elements.14. The balance in Allowance for Doubtful Accounts, at any given time, represents:A. estimated uncollectible accounts receivable not yet written off.B. the amount of accounts receivable written off.C. the amount reserved to pay for bad debts.D. the amount lost to bad debts15. The method of increasing the expense when the business writes an account off is called:A. aging method.B. allowance method.C. percent of sales method.D. direct write-off methodⅣ. Supply the missing information in the following statementsOneMany people and __1__ use accounting information that __2__ prepare in order to make sound decisions. That’s why it is important for these people to understand how this information is created. To __3__ communication, accountants establish __4__ that business people can use to ensure they are talking about the same thing. Suppose, a bookstore sells books: when should the accountant __5__ the sale----at the moment the books are shipped (accrual accounting) or at the time__6__ for these books is received (cash accounting)? Whether the store owner uses ___7__ or the cash basis accounting rule is not important as long as a rule is established that requires the owner to __8__ which system of rule is being used in __9__. All the rules of measurement for accounting __10__ in one group and called Generally AcceptedAccounting Principles (GAAP).TwoIn practice, it may be necessary to know __1__ of inventory when perpetual inventory records are not maintained and it is impractical to take __2__. For example, a business that uses __3__ may need monthly income statements, but taking a physical inventory each month may be too costly. Moreover, when __4__ such as a fire has destroyed the inventory, the amount of __5__ must be determined. In this case, taking a physical inventory is __6__, and even if __7__ have been kept, these records may also __8__. In such cases, __9__ can be estimated by using (1) the retail method or (2) __10__. Ⅴ. Translate the following into English1. 会计等式2. 复式记账基本原理3. 会计期间4. 确认收⼊原则5. 电汇6. 过账是将分录信息从⽇记账过⼊分类账的过程。
关于一些会计知识的英语介绍
关于一些会计知识的英语介绍Accounting is a profession of recording, classifying, summarizing, and interpreting of those business activities that can be expressed in monetary terms. A person who specializes in this field is known as an accountant.会计是一个以货币形式对经济活动进行记录、分类、汇总以及解释的过程。
专门从事这方面工作的人员叫做会计师。
Accounting frequently offers the qualified person an opportunity to move ahead quickly in the society and finally the person can earn a lot of money. It is because accounting is a basic and important element in every modern business. It records the past growth or decline of the business. Careful analysis of these results may suggest the ways in which the business may grow in the future.会计这一职业在当今社会中给有能力的人提供了升迁的机会，而且最终能赚取大量的钱。
这是因为会计是现代各类公司基本和重要的组成部分，他记录公司以往的兴衰，对这些记录结果进行认真的分析，有助于公司提出未来发展的方向。
Accounting is one of the fastest growing professions in the modern business world. Every new store, school, restaurant, or filling station increases the demand for accountants. So, the demand for competent accountants is generally much greater than the supply.会计师是当今经济社会中发展最快的职业。
- 1、下载文档前请自行甄别文档内容的完整性，平台不提供额外的编辑、内容补充、找答案等附加服务。
- 2、"仅部分预览"的文档,不可在线预览部分如存在完整性等问题,可反馈申请退款(可完整预览的文档不适用该条件!)。
- 3、如文档侵犯您的权益，请联系客服反馈,我们会尽快为您处理(人工客服工作时间：9:00-18:30)。
单项选择题
1．企业在确定计量一个会计期间收入与费用时应遵循的原则是：权责发生制原则
2．下列错误中能够通过试算平衡查找的有：借贷金额不等
3．借贷记帐法中的借、贷所表示的含义是：记账符号
4．原始凭证按其取得的来源分类,可以分为：外来凭证和自制凭证
5．从银行提取现金500元，应编制：银行存款的付款凭证
6．发现记账凭证所用账户正确，但所填金额大于应记金额，并已过账，应采用( )更正错误。
红字冲销法
7．银行存款日记账和银行对账单核对是：账实核对
8．下列各项中，不属于“其它货币资金”科目核算内容的是：备用金
9．根据《现金管理暂行条例》规定，下列经济业务中，不能用现金支付的是：支付物资采购货款2 200元
10．企业购入存货，在有购货折扣的情况下，计入存货历史成本的购货价格是指：扣除商业折扣但包括现金折扣的金额
11．企业外购存货所发生的由本企业负担的自然灾害损失应计入：营业外支出
12．在记账无误的情况下,造成银行对账单和银行存款日记账不一致的原因是：未达账项13．下列采购费用中应计入采购成本的是：运输途中的合理损耗
14．下列各项目中，应计入“制造费用”账户的是：生产性机器设备的折旧费
15．以下支出中不属于产品制造成本的项目是：购买固定资产的支出
16．具有清算及时，使用方便，收付双方都有法律保障和结算灵活特点的票据是：转账支票
17.下列引起所有者权益总额发生变化的是：分配现金股利
18.下列属于静态报表的是：资产负债表
19.科目汇总表汇总的是：全部科目的借贷方发生额
20.会计档案销毁清册应该：永久保管
多项选择题
1.根据权责发生制原则，下列各项中应计入本期的收入和费用的是：2
本期销售货款收存银行。
计提本期固定资产折旧费
2.属于资产要素内部项目增减变化的有：
3. 以银行存款9000元购买设备一台，
收到某单位还来的欠款5000元，从银行提取现金3000元
3.下列等式中属于正确的会计等式有：资产=权益
资产=负债+所有者权益+(收入—费用)收入—费用=利润资产=负债+所有者权益
4.下列凭证中属于原始凭证的有：提货单，发出材料汇总表，购货发票，
产品成本计算单，有应借应贷科目的自制原始凭证
5.对账的主要内容包括：账表核对账账核对账证核对账实核对
6.“其他货币资金”科目用以核对企业的：
（银行汇票存款，在途货币资金，银行本票存款）。
7.下列各项目中，属于存货的有：委托外单位代销的货物，企业正在加工中的产品
8.属于“利润分配”账户核算的内容的有：分配给投资者利润，提取任意盈余公积，
提取法定盈余公积
9.属于包装物的核算范围的有：用于包装商品作为商品组成部分的包装物，随同商品出售而不单独计价的包装物，出租给购买单位使用的包装物，出借给购买单位使用的包装物10.留存收益包括：盈余公积，未分配利润
判断题
1.
而不应当仅仅按照它们的法律形式为依据。
2．为了全面地反映经济内容，会计科目的设置应越多越好。
（错误）
3.权益指的就是所有者权益。
（错误）
4.记账凭证按其用途不同，可以分为收款凭证、付款凭证和转账凭证。
（错误）
5.原始凭证是在经济在发生或完成时取得或编制的。
它载明经济业务的具体内容，明确经济责任，是具有法律效力的书面证明。
（正确）
6.累计凭证是指连续记载一定时期许多同类又不断重复发生的经济业务，以期末累计数作为记账依据的原始凭证。
（正确）
7.结账之前，如果发现账簿中所记的文字或数字错误有过账笔误，而记账凭证并没有错，应
采用划线更正法进行更正。
（正确）
8.登记账簿必须用蓝、黑墨水书写，不得使用圆珠笔或铅笔书写。
（正确） 9．托收承付结算方式既适用于同城结算，也适用于异地结算。
（错误） 10.在现金清查中，如有白条，可以抵充现金，以便账实相符。
（错误）
11.采用先进先出法，在物价上涨时，会过低估计企业的当期利润和库存存货价值；反之，会高估企业存货价值和当期利润。
（错误）
12.实地盘存制是指平时根据会计凭证在账簿中登记各种财产的增加数和减少数，在期末时再通过盘点实物，来确定各种财产的数量，并据以确定账实是否相符的一种盘存制度（错误） 13.所得税费用金额是依据利润总额乘以所得税率。
（错误）
14.“制造费用”账户属费用成本类即损益类，故期末必定没有余额。
（错误） 15.在我国,股票可以按照面值发行,也可以按溢价或折价发行。
（错误） 16.企业回购本公司股票时，应通过“库存股”科目进行核算。
（错误） 17.资产负债表反映企业在一定期间经营成果的报表，所以它是动态报表。
（错误） 18.利润表中的净利润项目,反映企业实现的净利润,如为净亏损,以“－”号填列。
（正确） 19.
（正确） 20.（错误） 1.
2.3.
4.5.
6.
7.
8.9.10.11.
12.
13.
14.
15.
16.
17.
18.
19.
20.。