英文会计 ACCOUNTING 最新海外复习资料
会计专业英语复习资料
会计专业英语复习资料Chapter11.key words●professional judgement●enterprise●ethical standard1.Key sentences●Accounting is an information system designed to record,classify and summarizesystematically significant financial and other economic information about business firms,and analyses and interprets its results,withmonetory unit as its main criterion.2.Excercises●P12 multiple-choice questionsChapter21.key words●accounting entity●g oing concern●accrual-basis●cash-basis●Materiality●conservatism2.Key sentences●AssetsProbable future economic benefits obtained or controlled bya particular entity as a result of past transaction or events.●LiabilitiesProbable future sacrifices of economic benefits arising from present obligations of particular entity to transfer assets orprovide services to other entities in the future as a result of past transaction or events.●EquityResidual interest in the assets of an entity that remains after deducting its liabilities.●RevenueInflows or other enhancements of assets of an entity or settlement of its liabilities (or a combination of both) during a period from delivering or producing goods,renderingservices,or other activities that constitute the entity’s ongoing major or central operations.●ExpensesOutflows or other using up of assets or incurrence of liabilities (or a combination of both) during a period from delivering or producing goods,renderingservices,or carrying out other activities that constitute the entity’s ongoing major or central operations.3.Excercises●Please describe the objectives of financial reporting.Chapter31.key words●accounting entry●accounting equation●credit balance●debit balance●ledger account●double-entry accounting2.Excercises●Please describe the steps of accounting cycle.Chapter41.key words●balance sheet●income statement●statement of cash flows2.Key sentences●Financial statements are the end product of the accounting process,giving aconcise report of the profitability and financial position of an enterprise.●Financial statements are the means conveying to the management and to theinterested outsider a concise picture of the profitability and financial position ofa business.1.key words●ag ing schedule●allowance for doubtful accounts●statement of cash flows●lower of cost or market rule2.Key sentences●Current AssetsCurrent assets are expected to be converted to cash or sold or used up within one year or less, through the normal operations of business.●Bank ReconciliationA bank reconciliation is a listing of the items and amounts that cause the cash balance reported in the bank statement to differ from the balance of the cash account in the ledger.3.Excercises●P76 multiple-choice questions1.key words●periodic inventory system●perpetual inventory system●Physical inventory system●First-in,first-out method●Last-in,first-out method2.Key sentences●InventoryInventory refers to various assets that are stocked for the purpose of sale,production or consumption during the process of the production for a business.3.Excercises●P90 multiple-choice questions1.key words●plant assets●capital expenditures●revenue expenditures●depreciation expense●accumulated depreciation2.Key sentences●The cost of a plant asset includes all expenditures that are reasonable andnecessary for getting the assets to the desired location and ready for use.●The book value of a plant asset is its cost minus the related accumulateddepreciation.3.Excercises●P107 multiple-choice questions1.key words●accounts payable●accrued expenses●income taxes payable●unearned revenues●credit evaluation●warranty payable2.Key sentences●Current LiabilitiesLiabilities that are to be paid out of current assets and are due within a short time,usually within one year,are called current liabilities.Chapter91.key words●bonds payable●convertible bonds●callable bonds●present val ue●future value●premium on a bond●discount on a bond2.Key sentences●The board of directors may authorize a bond issue.●Money earns income over time,a fact called the time value of money.3.Excercises●What factors may have an impact on the exact pres ent value of any futureamount?●P134 multiple-choice questionsChapter101.key words●capital stock●paid-in capital●retained earnings●dividend2.Key sentences●The major rights that accompany ownership of a share of stock are asfollows:(1)the right to vote in matters concerning the corporation;(2)the right to share in distributions of earnings;(3)the right to share in assets on liquidation.●The price at which stock can be sold by a corporation depends on a variety offactors,such as these:(1)the financial condition,earningrecord,and dividend record of the corporation;(2)investor expectations of the corporation’s potential earning power;(3)general business and economic conditions and prospects.3.Excercises●P148 multiple-choice questionsChapter111.key words●cash inflow●cash outflow●net cash flow●financing activity●investment activity●operating activity2.Excercises●Please describe the function of the statement of cash flow.Chapter121.key words●accounts receivable turnover●current position a nalysis●current ratio●debt ratio●inventory turnover●number of times interest charges are earned●quick ratio●rate earned on stockholders’equity●rate earned on total assets●ratio of net sales to assets●rate of return on net sales●number of days’sales in inventory●rate on price/earnings2.Key sentences●The higher the current ratio is,the more solvency ability the company has.●The higher the debt ratio is the higher the strain of paying principal and interestis,and the higher the risk of solvency is.3.Excercises●Please describe the objectives of financial statement analysis.●P183 multiple-choice questions。
会计知识点英文
会计知识点英文Accounting Knowledge Points in EnglishIntroduction:Accounting plays an essential role in the business world, providing the foundation for effective financial management. Understanding accounting concepts and terminologies in English is crucial for international business professionals and students. This article aims to present important accounting knowledge points in English, covering topics such as financial statements, cost management, and auditing.Financial Statements:One of the fundamental aspects of accounting is the preparation and analysis of financial statements. Financial statements provide crucial information about a company's financial performance, position, and cash flows. The main financial statements include the balance sheet, income statement, and cash flow statement.- The balance sheet, also known as the statement of financial position, presents a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time. It reflects the company's financial health and helps evaluate its solvency and liquidity.- The income statement, also known as the profit and loss statement, summarizes a company's revenues, expenses, gains, and losses over a specific period. It provides insights into the company's profitability and helps assess its operational efficiency.- The cash flow statement records the inflows and outflows of cash and cash equivalents during a specific period. It categorizes cash flows into operating activities, investing activities, and financing activities. The cash flow statement helps evaluate a company's ability to generate cash and meet its financial obligations.Cost Management:Cost management is another crucial aspect of accounting, helping businesses control and optimize their expenses. Understanding key cost management concepts in English is essential for effective financial decision-making.- Cost allocation refers to the process of assigning costs to specific products, departments, or activities based on predetermined cost drivers. This helps in evaluating the cost-effectiveness of different aspects of a business and aids in making informed decisions.- Cost-volume-profit analysis (CVP analysis) enables businesses to understand and predict the financial outcomes of changes in volume, costs, and prices. It helps in determining break-even points, analyzing profit margins, and making decisions on pricing and production levels.- Activity-based costing (ABC) is a method used to allocate costs to products or services based on the activities that consume resources. It provides a more accurate allocation of costs by considering the specific activities related to each product or service.Auditing:Auditing is the process of verifying and evaluating a company's financial statements to ensure their accuracy and compliance with applicable regulations. Familiarity with auditing concepts and procedures in English is important for auditors and business professionals involved in financial reporting.- External auditing involves an independent auditor who examines financial statements to express an opinion on their fairness and compliance with accounting standards. This helps build trust and credibility among stakeholders, including investors, lenders, and regulators.- Internal auditing is conducted by professionals employed by the company to assess and improve its internal control systems. Internal auditors ensure that operations are efficient, risks are managed appropriately, and compliance measures are in place.- Forensic auditing involves investigating financial records and transactions to detect and prevent fraudulent activities. Forensic auditors specialize in analyzing accounting data for evidence in legal proceedings.Conclusion:Mastering accounting knowledge points in English is vital for individuals involved in international business and financial management. This article provided insights into financial statements, cost management, and auditing, covering essential concepts in each area. By understanding and applying these concepts effectively, professionals can make informed financial decisions and contribute to the success of their organizations.。
【澳方会计英文海外原版】accounting-lecture7
Subsidiary ledgers
group of accounts with a common characteristic
Control account
details from subsidiary ledgers summarised in General Ledger control account
Use the accounting equation
2.
•
Converting the “+” and “-” into debits and credits By posting
3.
4.
construct trial balance adjust trial balance
By using all balances in the GL
14
5. The move to computerised AISs benefits
ability to process large number of transactions quickly automatic posting of transactions error reduction fast response time flexible and fast report production
5.
6.
prepare financial statements
By posting adjusting entries
using numbers from the adjusted TB
5
1. Introduction to AIS (P310)
会计专业英语复习资料
《会计专业英语》复习资料一、短语中英互译1、会计分录2、投资活动3、后进先出法4、客观性原则5、注册会计师6、权责发生制7、累计折旧8、资产负债表9、经营决策 10、银行存款 11、到期日 12、历史成本13、source document 14、nominal rate15、credit sale 16、sum-of-years-digits method17、economic entity assumption18、financial position 19、fixed assets20、public hearing 21、income statement22、sales discount 23、value added tax24、trade mark 25、bank overdraft二、从下列选项中选出最佳答案1、Generally，revenue is recorded by a business enterprise at a pointwhen ：( )A、Management decides it is appropriate to do soB、The product is available for sale to consumersC、An exchange has taken place and the earning process is virtuallycompleteD、An order for merchandise has been received2、Why are certain costs capitalized when incurred and then depreciated or amortized over subsequent accounting periods？( )A、To reduce the income tax liabilityB、To aid management in making business decisionsC、To match the costs of production with revenue as earnedD、To adhere to the accounting concept of conservatism3、What accounting principle or concept justifies the use of accruals and deferrals？( )A、Going concernB、MaterialityC、ConsistencyD、Stable monetary unit4、An accrued expense can best be described as an amount ( )A、Paid and currently matched with revenueB、Paid and not currently matched with revenueC、Not paid and not currently matched with revenueD、Not paid and currently matched with revenue5、Continuation of a business enterprise in the absence of contraryevidence is an example of the principle or concept of ( )A、Business entityB、ConsistencyC、Going concernD、Substance over form6、In preparing a bank reconciliation，the amount of checks outstanding would be：( )A、added to the bank balance according to the bank statement.B、deducted from the bank balance according to the bank statement.C、added to the cash balance according to the depositor’s records.D、deducted from the cash balance according to the depositor’s records.7、Journal entries based on the bank reconciliation are required for：( )A、additions to the cash balance according to the depositor’s records.B、deductions from the cash balance according to the depositor’s records.C、Both A and BD、Neither A nor B8、A petty cash fund is ：( )A、used to pay relatively small amounts。
英文会计知识点总结归纳
英文会计知识点总结归纳IntroductionAccounting is a fundamental aspect of any business, as it involves the recording, analyzing, and reporting of financial transactions. It provides businesses with essential information to make informed decisions, assess their financial health, and comply with regulatory requirements. In this article, we will summarize and consolidate key accounting knowledge points that are crucial for understanding the principles and practices of accounting.1. Basics of Accounting1.1. Definition of AccountingAccounting is the process of recording, analyzing, and interpreting financial transactions of an organization. It provides a systematic and comprehensive record of all financial activities and enables the preparation of financial statements.1.2. Accounting EquationThe accounting equation, also known as the balance sheet equation, is a fundamental principle of accounting that states:Assets = Liabilities + EquityThis equation represents the relationship between a company's assets, liabilities, and equity, and must always remain in balance.1.3. Types of AccountingThere are several types of accounting, including financial accounting, management accounting, cost accounting, and tax accounting. Each type serves a specific purpose and audience, such as external stakeholders, internal management, and regulatory authorities.2. Financial Statements2.1. Balance SheetThe balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It lists the company's assets, liabilities, and equity, and is used to assess its solvency and liquidity.2.2. Income StatementThe income statement, also known as the profit and loss statement, summarizes a company's revenues and expenses over a specific period. It provides insights into the company's profitability and performance.2.3. Cash Flow StatementThe cash flow statement tracks the inflow and outflow of cash within an organization. It categorizes cash flows into operating, investing, and financing activities, and helps assess the company's ability to generate cash and meet its obligations.3. Principles of Accounting3.1. Accrual Basis vs. Cash Basis AccountingAccrual basis accounting recognizes revenues and expenses when they are incurred, regardless of when cash is exchanged. Cash basis accounting, on the other hand, records transactions only when cash is received or paid. Accrual basis accounting provides a more accurate representation of a company's financial performance.3.2. Matching PrincipleThe matching principle requires that expenses be recognized in the same period as the revenues to which they relate. This principle ensures that a company's financial statements accurately reflect its profitability.3.3. Revenue RecognitionRevenue recognition dictates when and how revenue should be recorded in a company's financial statements. It is crucial for determining a company's financial performance and must adhere to generally accepted accounting principles (GAAP).4. Assets and Liabilities4.1. Types of AssetsAssets are resources owned by a company and can be categorized into current assets (e.g., cash, inventory) and non-current assets (e.g., property, plant, and equipment). Understanding the nature and value of an organization's assets is vital for assessing its financial health.4.2. Types of LiabilitiesLiabilities represent an organization's obligations to outside parties and can include accounts payable, long-term debt, and accrued expenses. Managing and tracking liabilities is crucial for maintaining financial stability.5. Internal Controls5.1. Importance of Internal ControlsInternal controls are processes and procedures that a company implements to safeguard its assets, ensure accuracy in financial reporting, and comply with regulations. They help prevent fraud, errors, and mismanagement of funds.5.2. Segregation of DutiesSegregation of duties involves dividing responsibilities among different individuals to prevent the occurrence of fraud and errors. It ensures that no single individual has control over critical financial processes.6. Auditing6.1. Purpose of AuditingAuditing is the process of examining a company's financial statements and accounting records to ensure accuracy, integrity, and compliance with laws and regulations. It provides independent assurance to stakeholders regarding the company's financial performance.6.2. Types of AuditsThere are different types of audits, such as external audits conducted by independent accounting firms, internal audits performed by a company's internal audit department, and government audits carried out by regulatory agencies.7. Taxation7.1. Tax PlanningTax planning involves the structuring of financial activities to minimize tax liabilities within the boundaries of the law. It requires an in-depth understanding of tax laws, regulations, and incentives.7.2. Tax Deductions and CreditsUnderstanding tax deductions and credits is essential for businesses to optimize their tax positions and reduce their tax burden. Deductions lower taxable income, while credits directly reduce the amount of tax owed.8. Financial Analysis8.1. Ratio AnalysisRatio analysis involves the use of financial ratios to evaluate a company's performance, liquidity, solvency, and efficiency. Common ratios include profitability ratios, liquidity ratios, and leverage ratios.8.2. Trend AnalysisTrend analysis involves comparing financial data over different periods to identify patterns, changes, and potential areas for improvement. It helps in assessing a company's financial health and predicting future performance.ConclusionAccounting is a critical aspect of business that provides insights into an organization's financial performance, health, and compliance. Understanding the basics of accounting, financial statements, principles, assets and liabilities, internal controls, auditing, taxation, and financial analysis is essential for business owners, managers, and financial professionals to make informed decisions and ensure the financial success of their organizations. By consolidating and summarizing these key accounting knowledge points, individuals can gain a comprehensive understanding of the principles and practices of accounting.。
海外留学生辅导-会计学常用英语单词
会计学常用英语单词Aaccount 账户,报表accounting postulate 会计假设accounting valuation 会计计价accountability concept 经营责任概念accountancy 会计职业accountant 会计师agency cost 代理成本accounting bases 会计基础accounting manual 会计手册accounting period 会计期间accounting policies 会计方针accounting rate of return 会计报酬率accounting reference date 会计参照日accounting reference period 会计参照期间accrual expenses 应计费用acquisition 收购acquisition accounting 收购会计adjusting events 调整事项administrative expenses 行政管理费amortization 摊销analytical review 分析性复核annual equivalent cost 年度等量成本法annual report and accounts 年度报告和报表appraisal cost 检验成本appropriation account 盈余分配账户assets 资产assets cover 资产担保asset value per share 每股资产价值associated company 联营公司attainable standard 可达标准attributable profit 可归属利润audit 审计audit report 审计报告auditing standards 审计准则authorized share capital 额定股本avoidable costs 可避免成本Bback-to-back loan 易币贷款backflush accounting 倒退成本计算bad debts 坏帐bad debts ratio 坏帐比率bank charges 银行手续费bank overdraft 银行透支bank reconciliation 银行存款调节表bank statement 银行对账单bankruptcy 破产basis of apportionment 分摊基础batch 批量batch costing 分批成本计算beta factor β市场风险因素βbill 账单bill of exchange 汇票bill of lading 提单bill of materials 用料预计单bill payable 应付票据bill receivable 应收票据bin card 存货记录卡bonus 红利book-keeping 薄记Boston classification 波士顿分类breaking-down time 复位时间budget 预算budget center 预算中心budget cost allowance 预算成本折让budget manual 预算手册budget period 预算期间budgetary control 预算控制budgeted capacity 预算生产能力business entity 营业个体business unit 经营单位Ccalled-up share capital 催缴股本capacity 生产能力capacity ratios 生产能力比率capital 资本capital assets pricing model 资本资产计价模式capital commitment 承诺资本capital employed 已运用的资本capital expenditure 资本支出capital expenditure authorization 资本支出核准capital expenditure control 资本支出控制capital expenditure proposal 资本支出申请capital funding planning 资本基金筹集计划capital gain 资本收益capital investment appraisal 资本投资评估capital maintenance 资本保全capital resource planning 资本资源计划capital surplus 资本盈余capital turnover 资本周转率card 记录卡cash 现金cash account 现金账户cash book 现金账薄cash cow 金牛产品cash flow 现金流量cash flow budget 现金流量预算cash flow statement 现金流量表cash ledger 现金分类账cash limit 现金限额changeover time 变更时间chartered entity 特许经济个体cheque 支票cheque register 支票登记薄clock card 工时卡commitment accounting 承诺确认会计common cost 共同成本company limited by guarantee 有限担保责任公司company limited by shares 股份有限公司competitive position 竞争能力状况conglomerate 跨行业企业consistency concept 一致性概念consolidated accounts 合并报表consolidation accounting 合并会计consortium 财团contingency plan 应急计划contingent liabilities 或有负债continuous operation 连续生产contra 抵消contract cost 合同成本contract costing 合同成本计算contribution chart 贡献图control account 控制账户control limits 控制限度controllability concept 可控制概念controllable cost 可控制成本conversion cost 加工成本convertible loan stock 可转换为股票的贷款corporate appraisal 公司评估corporate planning 公司计划corporate social reporting 公司社会报告cost 成本cost account 成本账户cost accounting 成本会计cost accounting manual 成本手册cost adjustment 成本调整cost allocation 成本分配cost apportionment 成本分摊cost attribution 成本归属cost audit 成本审计cost benefit analysis 成本效益分析cost driver 成本动因cost of capital 资本成本cost of goods sold 销货成本cost of non-conformance 非相符成本cost of sales 销售成本cost reduction 成本降低cost structure 成本结构cost unit 成本单位costing 成本计算credit note 贷项通知credit report 信贷报告书creditor 债权人creditor days ratio 应付账款天数率creditors ledger 应付账款分类账critical event 关键事项critical path 关键路线cumulative preference shares 累积优先股current asset 流动资产current cost accounting 现时成本会计current liabilities 流动负债current purchasing power accounting 现时购买力会计current ratio 流动比率CVP 本量利分析cycle time 周转时间Ddebenture 债券debit note 借项通知debit capacity 举债能力debt ratio 债务比率debtor 债务人;应收账款debtor days ratio 应收账款天数率debtors ledger 应收账款分类账debtor' age analysis 应收账款账龄分析decision driven costs 决策连动成本decision tree 决策树defects 次品deferred expenditure 递延支出deferred shares 递延股份deferred taxation 递延税款delivery note 交货单departmental accounts 部门报表departmental budget 部门预算depreciation 折旧dispatch note 发运单development cost 开发成本differential cost 差别成本direct cost 直接成本direct debit 直接借项direct hours yield 直接小时产出率direct labour cost percentage rate 直接人工成本百分比direct labour hour rate 直接人工小时率directs on indirect work 间接工作事项上的工时discount rate 贴现率discounted cash flow 现金流量贴现discretionary cost 酌量成本distribution cost 摊销成本diversions 移用diverted hours 移用小时diverted hours ratio 移用工时比率dividend 股利dividend cover 股利产出率dividend per share 每股股利dog 疲软产品double entry accounting 复式会计double-entry book-keeping 复式薄记doubtful debts 可疑债务down time 停工时间Eearning per share 每股盈利efficient market hypothesis 有效市场假设efficiency ration 效率性比率element of cost 成本要素entity 经济个体environmental audit 环境审计environmental impact assessment 环境影响评价equity 权益equity method of accounting 权益法会计计算equity share capital 权益股本equivalent units 当量event 事项exceptional items 例外事项expected value 期望值expenditure 支出expenses 费用external audit 外部审计external failure cost 外部损失成本extraordinary items 非常事项Ffactory goods 让售商品factoring 应收帐款让售fair value 公允价值FIFO 先近先出法final accounts 年终报表finance lease 融资租赁financial accounting 财务会计financial accounts calendar adjustment 财务报表的日历时间调整financial management 财务管理financial planning 财务计划financial statement 财务报表finished goods 完成品fixed asset 固定资产fixed overhead 固定制造费用fixed asset turnover 固定资产周转率fixed assets register 固定资产登记薄fixed cost 固定成本flexed budget 变动限额预算flexible budget 弹性预算float time 浮动时间floating charge 流动抵押flow of funds statement 资金流量表forecasting 预测founder's shares 发起人股份full capacity 满负荷生产能力function costing 职能成本计算functional budget 职能预算fund accounting 基金会计fundamental accounting concept 基础会计概念fungible assets 可互换资产futuristic planning 远景计划Ggap analysis 间距分析gearing 举债经营比率杠杆goal congruence 目标一致性going concern concept 持续经营概念goods received note 商品收讫单goodwill 商誉gross dividend yield 总股息产出率gross margin 总边际gross profit 毛利润gross profit percentage 毛利润百分比group accounts 集团报表Hhigh-geared 高结合杠杆比例hire purchase 租购historical cost 历史成本historical cost accounting 历史成本会计hurdle rate 最低可接受的报酬率Iideal standard 理想标准idle capacity ration 闲置生产能力比率idle time 闲置时间impersonal accounts 非记名账户imprest system 定额备用制度income and expenditure account 收益和支出报表incomplete records 不完善记录incremental cost 增量成本incremental yield 增量产出率indirect cost 间接成本insolvency 无力偿付intangible asset 无形资产integrated accounts 综合报表interdependency concept 关联性概念interest cover 利息保障倍数interlocking accounts 连锁报表internal audit 内部审计internal check 内部牵制internal control system 内部控制体系internal failure cost 内部损失成本internal rate of return (IRR) 内含报酬率inventory 存货investment 投资invoice register 发票登记薄issued share capital 已发行股本Jjob 定单job card 工作卡job costing 工作成本计算job sheet 工作单joint cost 联合成本joint products 联产品joint stock company 股份公司joint venture 合资经营journal 日记账just-in-time (JIT) 适时制度just-in-time production 适时生产just-in-time purchasing 适时购买Llabour transfer note 人工转移单learning curve 学习曲线ledger 分类账户length of order book 定单平均周期letter of credit 信用证leverage 举债经营比率liabilities 负债life cycle costing 寿命周期成本计算LIFO 后近先出法limited liability company 有限责任公司limiting factor 限制因素line-item budget 明细支出预算liner programming 线性规划liquid assets 变现资产liquidation 清算liquidity ratios 易变现比率loan 贷款loan capital 借入资本long range planning 长期计划lost time record 虚耗时间记录low geared 低结合杠杆比例lower of cost or net realizable value concept 成本或可变净价孰低概念Mmachine hour rate 机器小时率machine time record 机器时间记录managed cost 管理成本management accounting 管理会计management accounting concept 管理会计概念management accounting guides 管理会计指导方针management audit 管理审计management buy-out 管理性购买产权management by exception 例外管理原则margin 边际margin of safety ration 安全边际比率margin cost 边际成本margin costing 边际成本计算mark-down 降低标价mark-up 提高标价market risk premium 市场分险补偿market share 市场份额marketing cost 营销成本matching concept 配比概念materiality concept 重要性概念materials requisition 领料单materials returned note 退料单materials transfer note 材料转移单memorandum of association 公司设立细则merger 兼并merger accounting 兼并会计minority interest 少数股权mixed cost 混合成本Nnet assets 净资产net book value 净账面价值net liquid funds 净可变现资金net margin 净边际net present value (NPV) 净现值net profit 净利润net realizable value 可变现净值net worth 资产净值network analysis 网络分析nominal account 名义账户nominal share capital 名义股本nominal holding 代理持有股份non-adjusting events 非调整事项non-financial performance measurement 非财务业绩计量non-integrated accounts 非综合报表non-liner programming 非线性规划non-voting shares 无表决权的股份notional cost 名义成本number of days stock 存货周转天数Oobjective classification 客体分类off balance sheet finance 资产负债表外筹资offer for sale 标价出售operating budget 经营预算operating lease 经营租赁operating statement 营业报表operation time 操作时间operational control 经营控制operational gearing 经营杠杆operating plans 经营计划opportunity cost 机会成本order 定单ordinary shares 普通股out-of-date cheque 过期支票over capitalization 过分资本化overhead 制造费用overhead absorption rate 制造费用分配率overhead cost 制造费用overtrading 超过营业资金的经营Ppaid cheque 已付支票paid-up share capital 认定股本parent company 母公司participating preference shares 参与优先股partnership 合伙payable ledger 应付款项账户payback 回收期payments and receipts account 收入和支出报表payments withheld 保留款额percentage profit on turnover 利润对营业额比率period cost 期间成本perpetual inventory 永续盘存personal account 记名账户PEPT 项目评审法petty cash account 备用金账户petty cash voucher 备用金凭证physical inventory 实地盘存planning 计划planning horizon 计划时限planning period 计划期间policy cost 政策成本position audit 状况审计post balance sheet events 资产负债表编后事项practical capacity 实际生产能力pre-acquisition losses 购置前损失pre-acquisition profits 购置前利润preference shares 优先股preference creditors 优先债权人prepayments 预付款项present value 现值prevention cost 预防成本prime cost 主要成本prime entry-books of 原始分录登记薄principal budget factor 主要预算因素prior charge capital 优先股prior year adjustments 以前年度调整priority base budgeting 优先顺序体制的预算pro-forma invoice 预开发票problem child 问号产品process costing 分步成本计算process time 加工时间product cost 产品成本Product life cycle 产品寿命周期production cost 生产成本production cost of sales 售货成本production volume ratio 生产业务量比率profit center 利润中心profit per employee 每员工利润profit retained for the year 年度利润留存profit to turnover ratio 利润对营业额比率profit-volume graph 利量图profitability index 盈利指数project evaluation and review technique 项目评审法projection 预计promissory note 本票prospectus 募债说明书provisions for liabilities and charges 偿债和费用准备prudent concept 稳健性概念purchase order 订购单purchase requisition 请购单purchase ledger 采购账户Qquality related costs 质量有关成本queuing time 排队时间Rrate 率ratio 比率ration pyramid 比率金字塔raw material 原材料receipts and payments account 收入和支付报表receivable ledger 应收款项账户redeemable shares 可赎回股份redemption 赎回registered share capital 注册资本rejects 废品relevant costs 相关成本relevant range 相关范围reliability concept 可靠性概念replacement price 重置价格report 报表reporting 报告research cost, applied 应用性研究成本research cost, pure or basic 理论或基础研究成本reserves 留存收益residual income 剩余收益responsibility center 责任中心retention money 保留款额return on capital employed 运用资本报酬率returns 退回revenue 收入revenue center 收入中心revenue expenditure 收益支出revenue investment 收入性投资right issue 认股权发行rolling budget 滚动预算rolling forecast 滚动预测Ssales ledger 销售分类账sales order 销售定单sales per employee 每员工销售额scrap 废料scrip issue 红股发行secured creditors 有担保的债权人segmental reporting 分部报告selling cost 销售成本semi-fixed cost 半固定成本semi-variable cost 半变动成本sensitivity analysis 敏感性分析service cost center 服务成本中心service costing 服务成本计算set-up time 安装时间shadow prices 影子价格share 股票share capital 股份资本share option scheme 购股权证方案share premium 股票溢价sight draft 即期汇票single-entry book-keeping 单式薄记sinking fund 偿债基金slack time 松弛时间social responsibility cost 社会责任成本sole trader 独资经营者source and application of funds statement 资金来源和运用表special order costing 特殊定单成本计算staff costs 职工成本statement of account 营业账单statement of affairs 财务状况表statutory body 法定实体stock 存货stock control 存货控制stock turnover 存货周转率stocktaking 盘点存货stores requisition 领料申请单strategic business unit 战略性经营单位strategic management accounting 战略管理会计strategic planning 战略计划strategy 战略subjective classification 主体分类subscribed share capital 已认购的股本subsidiary undertaking 子公司sunk cost 沉没成本supply estimate 预算估计supply expenditure 预算支出suspense account 暂记账户SWOT analysis 长处和短处,机会和威胁分析Ttactical planning 策略计划tactics 策略take-over 接收tangible asset 有形资产tangible fixed asset statement 有形固定资产表target cost 目标成本terotechnology 设备综合工程学throughput accounting 生产量会计time sheet 时间记录表total assets 总资产total quality management 全面质量管理total stocks 存货总计trade creditors 购货客户应付账款trade debtors 销货客户应收账款trading profit and loss account 营业损益表transfer price 转让价格transit time 中转时间treasurership 财务长制度trail balance 试算平衡表turnover 营业额Uuncalled share capital 未催缴股本under capitalization 不足资本化under or over-absorbed overhead 少吸收或多吸收的制造费用uniform accounting 统一会计uniform costing 统一成本计算unissued share capital 未发行股本Vvalue added 增值value analysis 价值分析value for money audit 经济效益审计vote 表决voucher 凭证Wwaiting time 等候时间waste 废品料wasting asset 递耗资产weighted average cost of capital (WACC)资本的加权平均成本weighted average price 加权平均价格with resource 有追索权without recourse 无追索权working capital 营运资本write-down 减值Zzero base budgeting 零基预算zero coupon bond 无息债券。
西方财务会计培训资料(英文版)
EXPENSES
Expenses are the decreases in owners’ (stockholders’) equity that result from operating the business.
When revenues exceed expenses, net income results.
When expenses exceed revenues, a net loss results.
Gains and losses(con.)
Gains: increase in equity from incidental or peripheral transactions not associated with the company’s major or central lines of business, e.g. gain from disposal of fixed asset.
1.2 COMPARISON BETWEEN FINANCIAL AND MANAGEMENT ACCOUNTING
Financial Accounting ---- The process of developing and reporting financial information for external users who do not have direct access to the information preparing which should be in accordance with General Accepted Accounting Principles (GAAP).
会计专业英语期末复习资料
《会计英语》复习资料二、单项选择（红字为正确答案）：Financial reports are used byd.all of the above1. For accounting purposes, the business entity should be considered separate from its owners if the entity is（）d.all of the above2. Which of the following best describes accountingb.is an information system that provides reports to stakeholders3. Using accrual accounting, expenses are recorded and reported onlya.when they are incurred, whether or not cash is paid4. The measurement bases exclude( )c.Sale price5. Debts owed by a business are referred to as（）d.liabilities6. Which of the following financial statements reports information as of a specific datec.balance sheet7. Cash investments made by the owner to the business are reported on the statement of cash flows in thea.financing activities section8. The accounting equation may be expressed asd.Assets - Liabilities = Owner's Equity9. Which of the following groups of accounts have a normal credit balancea.revenues, liabilities, capital10. Which of the following groups of accounts have a normal debit balanced.assets, expenses11. Which of the following types of accounts have a normal credit balancec.revenues and liabilities12. In the accounting cycle, the last step is（）a.preparing a post-closing trial balance13. Which of the following should not be considered cash by an accountantc.postage stamps14. A bank reconciliation should be prepared periodically because （）c.any differences between the depositor's records and thebank's records should be determined, and any errors made byeither party should be discovered and corrected15. The amount of the outstanding checks is included on the bank reconciliationas a(n) （）c.deduction from the balance per bank statement16. The asset created by a business when it makes a sale on account is termedc.accounts receivable17. What is the type of account and normal balance of Allowance for Doubtful Accountsa.Contra asset, credit18. The term "inventory" indicates （）d.both A and B19. Merchandise inventory at the end of the year was understated. Which of the following statements correctly states the effect of the error income is understated20.Merchandise inventory at the end of the year is overstated. Which of the following statements correctly states the effect of the errorb.owner's equity is overstated21.The inventory method that assigns the most recent costs to cost of good sold isb.LIFO22.Under which method of cost flows is the inventory assumed to be composed of the most recent costsb.first-in, first-out23. When the perpetual inventory system is used, the inventory sold is debited to ( )b.cost of merchandise sold24．All of the following below are needed for the calculation of depreciation exceptd.book value25. A characteristic of a fixed asset is that it ised in the operations of a business26. Accumulated Depreciation ( )c.is a contra asset account27. The two methods of accounting for investments in stock are the cost method and the （）b.equity method28. A capital expenditure results in a debit to （）d.an asset account29. Current liabilities are（）d.due and payable within one year30. The debt created by a business when it makes a purchase on account is referred to as anb.account payable31. Notes may be issued （）d.all of the above32.The cost of a product warranty should be included as an expense in thec.period of the sale of the product33. If the market rate of interest is 8%, the price of 6% bonds paying interest semiannually with a face value of $100,000 will bec.Less than $100,00034. The interest rate specified in the bond indenture is called the （）b.contract rate35. When the corporation issuing the bonds has the right to repurchase the bonds prior to the maturity date for a specific price, the bonds ared.callable bonds36. When the market rate of interest on bonds is higher than the contract rate, the bonds will sell atd. a discount37. One potential advantage of financing corporations through the use of bonds rather than common stock isc.the interest expense is deductible for tax purposes by thecorporation38. Characteristics of a corporation include （）d.shareholders who have limited liability39. Stockholders' equity （）c.includes retained earnings and paid-in capital40. The excess of issue price over par of common stock is termed a(n) （）d.premium41. Cash dividends are usually not paid on which of the followingc.treasury stock42. Which of the following accounts below is reported in the paid-in capital/stockholders' equity section of the corporate balance sheetd.Preferred Stock43. If preferred stock has dividends in arrears, the preferred stock must bed.convertible44. The primary purpose of a stock split is tob.reduce the market price of the stock per share45. Which statement below is not a reason for a corporation to buy back its own stock.d.to increase the shares outstanding46. The liability for a dividend is recorded on which of the following datesd.the date of declaration47. In credit terms of 2/10, n/30, the "2" represents thed.percent of the cash discount48. Revenue should be recognized when（）b.the service is performed49. The ability of a business to pay its debts as they come due and to earn a reasonable amount of income is referred to as （）b.solvency and profitability50. Which of the following is not included in the computation of the quick ratioa.inventory四、问答题：3．Differentiate between financial accounting and managerial accounting.财务会计与管理会计的区别。
西方财务会计复习资料全
《西方财务会计》复习资料一般期末考试题型：一、判断题二、单项选择题三、多项选择题四、论述题五、业务题各章要求重点掌握的容：第一章：概论1．财务会计与管理会计的区别2．会计信息的质量特征3．各会计假设与会计原则（理解并能应用，不要求背诵）第二章：会计循环1．资产及其特征2．会计等式3．借贷记账法、日记账与分类账的应用4．试算表5．第三节应计制与账项调整6．会计循环的各个步骤第三章：商品购销业务1．购销业务的处理，（1）退货与折让货款（2）商业折扣与现金折扣（总价法与净价法）（3）运费2．销货成本的确定第四章：现金收支业务1．现金的围2．现金部控制的方法3．零用现金的会计处理4．银行余额的调节第五章：应收账款与应收票据1．第二节：应收账款坏账的处理2．第四节：应收票据第六章：存货1．第一节存货的种类和围2．第二节存货数量的确定3．第三节存货成本的确定（不包括成本与市价孰低法）第七章：对外投资1．投资的分类与计价2．债务性证券投资的会计处理（交易性和可供出售证券）3．权益性证券投资的会计处理（交易性和可供出售证券）4．成本法与权益法（看课件容）第八章：厂场资产、自然资源和无形资产1．厂场资产的特点2．长期资产的计价3．第二节厂场资产取得的会计处理（不包括非货币性交易）4．第三节厂场资产折旧及折旧的计算5．厂场资产的处置6．无形资产及其特征第九章：流动负债1．负债及其特点2．第三节金额确定的流动负债3．第六节或有负债第十章：长期负债1．第一节长期负债的特点2．公司债券的计价及其帐务处理（涉及债券发行、折价和溢价摊销、赎回等，以直线摊销法为主）第十一章：股东权益全章容重要（涉及股票发行、库藏股、股利等）第十二章：合伙企业业主权益（不要求）第十三章：财务报表1．财务报表的种类2．收益表及其作用3．资产负债表及其作用4．股东权益表及其作用5．第四节现金流量表（要求理解，掌握方法，不考具体编表）第十四章：财务报表分析1．第一节财务报表分析的目的和方法2．如何进行横向分析和纵向分析3．第三节比率分析法4．财务报表分析的局限性★考核知识点:会计的概念附1.1（考核知识点解释）会计的主要目的在于向决策者提供财务信息，以帮助他们做出有关财务事项的最有利的决策。
【澳方会计英文海外原版】accounting-lecture10-20页精选文档
5. Utilise the SCF for business decisions
3
The mighty trio
4
Preparation of SCF - update
6
1. Investing activities – calculating
Purchase of property, plant and equipment
Need a few key pieces of info:
1. Net movement in cost value of property, plant and
7
1. Investing activities – calculating
Sale of property, plant and equipment
Need a few diffeቤተ መጻሕፍቲ ባይዱent pieces of info:
1. Original purchase price (to you) of PPE sold during the period (refer information from purchase of PPE)
What cash flows get classified as cash flows from operating activities?
Those related to the everyday running of the business – receiving payments from customers, paying suppliers and employees etc.
【澳方会计海外原版】accounting-lecture2
19
20
3. Calculating Ratios
(P41)
Ratio analysis Looks for relationships between items of financial statement data Is expressed as percentages, rates and proportions Gets lots of people (not just accountants) very excited
8
9
Definitions (P17)
Assets are future economic benefits that the company controls The claims on those assets are divided into 2 categories
Liabilities – future economic sacrifices the company will have to make to creditors Equity – future economic sacrifices the company will have to make to owners
12
1. The Classified Balance Sheet (continued)
Current Liabilities – obligations that will be
paid within 1 year
13
1. The Classified Balance Sheet (continued)
10
1. The Classified Balance Sheet (continued) (P20)
会计英语复习资料
会计英语复习资料会计英语期末复习资料⼀、单词1.accounting 会计学2.accounting elements 会计要素3.accounting equation 会计等式4.assets 资产5.liabilities 负债6.owner`s equity 所有者权益7.revenue 收⼊8.expenses 费⽤9.profits 利润10.accounting period 会计期间11.transaction 经济业务/会计事项12.double-entry system 复式记账法13.debit 借⽅14.credit 贷⽅15.ledger 分类账16.chart of accounts 会计科⽬表17.journal ⽇记账18.current assets 流动资产19.cash 现⾦20.cash equivalents 现⾦等价物21.check ⽀票22.bank deposits 银⾏存款23.cash in bank 银⾏存款24.money orders 汇票25.cash on band 库存现⾦26.accounts receivable 应收账款27.allowance for bad debts 坏账准备/doc/be38e1fd80eb6294dd886c5c.html realizable value 可变现净值29.inventory 存货30.finished goods 产成品31.semi-finished goods 半成品32.goods in process 在产品33.historical cost 历史成本34.specific identification 个别计价法35.first-in, first-out 先进先出法/doc/be38e1fd80eb6294dd886c5c.html st-in, first-out 后进先出法37.weighted average 加权平均法38.raw materials 原材料39.short-term investment 短期投资40.marketable securities 有价证券41.shareholder 股东42.bonds 债券43.debentures 债券44.long-term assets 长期资产45.fixed assets 固定资产46.intangible assets ⽆形资产47.deferred assets 递延资产/doc/be38e1fd80eb6294dd886c5c.html eful life 使⽤寿命49.depreciation 折旧50.depreciable amount 应计折旧额51.depreciation method 折旧⽅法52.estimated net residual value 预计净残值53.straight-line method 直线法54.units of production method ⼯作量法55.double declining balance method 双倍余额递减法56.sum-of-the-years-digits method 年数总和法57.amortization 摊销58.impairment 减值59.current liabilities 流动负债60.accounts payable 应付账款61.notes payable 应付票据62.unearned revenue 预收账款63.income taxes payable 应交所得税64.contingent liabilities 或有负债65.long-term liabilities 长期负债66.bonds payable 应付债券67.ownership 所有权68.sole proprietorship 独资企业69.partnership 合伙企业70.corporation 公司/doc/be38e1fd80eb6294dd886c5c.html mon shareholders 普通股股东72.preferred shareholders 优先股股东/doc/be38e1fd80eb6294dd886c5c.html mon stock 普通股74.preferred stock 优先股75.dividends 股利76.retained earnings 留存收益77.paid-in capital 实收资本78.capital stock 股本79.addtional paid-in capital 附加投⼊资本80.capital surplus 资本公积81.undistributed profit 未分配利润82.par value ⾯值83.fair value 公允价值84.reserve fund 盈余公积85.legal reserve 法定盈余86.stock split 股利分割87.cash dividends 现⾦股利88.stock dividends 股票股利89.sales revenue 销售收⼊90.service revenue 劳务收⼊91.product costs 产品成本92.direct material costs 直接材料成本93.direct labor costs 直接⼈⼯成本94.indirect costs 间接成本95.manufacturing overhead 制造费⽤96.period expenses 期间费⽤97.operating expense 营业费⽤98.administrative expense 管理费⽤99.finance expense 财务费⽤100.balance sheet 资产负债表101.income statement 利润表/损益表102.cash flow statement 现⾦流量表⼆、填空1. The accounting elements include , , , , , and .2. Liabilities are of a business.3. Borrowing cash from a bank does not belong to ; it simply belongs to liability.4. Profit is the of revenue over expenses for the accounting period.5. The accounting equation is : = + .6.“Dr.” stands for debits ,while “Cr.” is the abbreviation for .7. Liability, owner`s equity, revenue and profit decreases are recorded as .8. Short-term investments refer to various of .9. Marketable securities include and to be realized within one year from the balance sheet date and shall be accounted for at cost.10. Depreciation refers to the systematic allocation of the of a fixed asset over its useful life.11. The four common depreciation methods are .12. shall be employed when it is assumed that an asset`s economic revenue is the same each year, and the repair and maintenance cost is also the same for each period.13. When depreciation is mainly due to wear and tear, are usually used.14. The two types of intangible assets are finite and intangibles.15. Please name five most commonly seen intangibles , i.e., , , , , and .16. Intangible assets do not include internally generated , and .17. Intangible assets should be measured initially at .18. For intangible assets with finite useful lives enterprises shall consider their while intangible assets with indefinite useful lives shall not be amortized.19. The account of should be decreased when the service paid for in advancehas been provided.20. The account of should be recorded when the business purchased supplies on credit.21. The account of used to show what the business owes the bank.22. A corporation`s balance sheet contains assets, liabilities, and .23. and are the two common capital stocks issued by a corporation.24. and are the usual forms of distribution to share holders.25. A is a proportional distribution to shareholders of additional shares of the corporation`s common or preferred stocks.26. represents the corporation`s accumulated net income, less accumulated dividends and other amounts transferred to paid-in capital accounts.三、单选1. Matching each of the following statements with its poper term.(1) accounts receivable ( )(2) dishonored notes receivable ( )(3) allowance method ( )(4) direct write-off method ( )A. The method of accounting for un-collectible accounts that provides an expense for un-collectible receivables in advance of their write-off.B. A receivable created by selling merchandise or service on credit.C. A note that maker fails to pay on the due date.D. The method of accounting for un-collectible accounts that recognizes the expense only when accounts are judged to be worthless.2. At the end of the fiscal year, accounts receivable has a balance of $100000 and allowance for doubtful accounts has a balance of $7000, The expected net realizable value of the accounts receivable is ( )A. $7000B. $93000C. $100000D. $1070003. If merchandise inventory is being valued at cost and the price level is steadily rising, the method of costing that will yield the higher net income is ( )A.LIFOB.FIFOC.AverageD.Periodic4. Given the following information, which of the following accounting transactions is true?( )Gross payroll $20000Federal income tax withheld $4000Social security tax withheld $1600A. $1600 is recorded as salary expense.B. $14400 is recorded as salary payableC. The $1600 deducted for employee social security tax belongs to the companyD. Payroll is an example of an estimated liability5.If a corporation has outstanding 1000 shares of $9 cumulative preferred stock of $100 par and dividends have been passed for the preceding three years, what is the amount of preferred dividends that must be declared in the current year before a dividend can be declared on common stock?( )A. $9000B. $27000C. $36000D. $450006. All of the following are reasons for purchasing treasury stock except to ( )A. make a market for the stockB. increase the number of shareholdersC. increase the earnings per share and return on equityD. give employee as compensation7. Paid-in capital for a corporation may arise from which of the following sources?( )A. Issuing cumulative preferred stockB. Receiving donations of real estateC. Selling the corporation`s treasury stockD. All of the above8. Under the equity method, the investment account is decreased by all of the following except the investor`s proportionate share of ( )A. dividends paid by the investeeB. declines in the fair value of the investmentC. the losses of the investeeD. all of the options9. Cash dividends are paid on the basis of the number of shares ( )A. authorizedB. issuedC. OutstandingD. outstanding less the number of treasury shares10. The stockholders` equity section of the balance sheet may include ( )A. common stockB. preferred stockC. donated capitalD. all of the above11. Declaration and issuance of a dividend in stock ( )A. increases the current ratioB. decreases the amount of working capitalC. decreases total stockholders` equityD. has no effect on total assets, liabilities, or stockholders` equity12. If a corporation reacquires its own stock, the stock is listed on the balance sheet in the ( )A. current assets sectionB. long term liability sectionC. stockholders` equity sectionD. investments section13. A corporation has issued 25000 shares of $100 par common stock and holds 3000 of these shares as treasury stock. If the corporation declares a $2 per share cash dividend, what amount will be recorded as cash dividend?( )A. $22000B. $2500014. A company declared a cash dividend on its common stock on December 15, 2004, payable on January 12, 2005. How would this dividend affect shareholders` equity on the following dates? ( ) December 15, January 122004 2005A. Decrease. Decrease.B. No effect. No effect.C. No effect. No effect.D. Decrease. Decrease.15. An example of a cash flow from an operating activity is ( )A. the receipt of cash from issuing stockB. the receipt of cash from issuing bondsC. the payment of cash for dividendsD. the receipt of cash from customers on account16. An example of a cash flow from an investing activity is ( )A. the receipt of cash from the sale of equipmentB. the receipt of cash from issuing bondsC. the payment of cash for dividendsD. the payment of cash to acquire treasury stock17. An example of a cash flow from a financing activity is ( )A. the receipt of cash from customers on accountB. the receipt of cash from the sale of equipmentC. the payment of cash for dividendsD. the payment of cash to acquire marketable securities18. A receivable created by selling merchandise or services on credit. ( )A. accounts receivableB. dishonored notes payableC. allowance methodD. direct write-off method19. At the end of the fiscal year, accounts receivable has a balance of $100000 and allowance for doubtful accounts has a balance of $7000. The expected net realizable value of the accounts receivable is ( )A. $7000B. $93000C. $100000D. $10700020.( ) are valuable resources owned by the entity.C. EquityD. None of them21. Which is intangible asset ( )A. internally generated goodwillB. internally generated publishing titlesC. franchises and licenseD. internally generated brands22.( ) shall be employed when it is assumed that an asset`s economic revenue is the same each year, and the repair and maintenance cost is also the same for each period.A. straight-line methodB. units of production methodC. double declining balance methodD. sum-of-the-years-digits(SYD) method四、判断1. Fixed assets are intangible assets. ( )2. Internally generated goodwill can be viewed as intangible assets. ( )3. Land doesn`t need depreciation and is considered to have an infinite life. （）4. Fixed assets are usually subjected to depreciation. ( )5. Bonds and stocks are classified as intangible assets.( )6. Once the expected useful life and estimated net residual value are determined, they shall not be changed under any circumstances.( )7. When a corporation issues one type of capital stocks, common stocks are always issued. ( )8. Par value is strictly a legal matter, and it establishes the legal capital of a corporation. ( )9. The balance of the additional paid-in capital account represents a gain on the sale of stocks and increases net income. ( )10. A corporation must, by law, pay a dividend once a year. ( )11. Dividends are an expense of a corporation and should be charged to the periodic income. ( )12. Revenue increase owner`s equity. ( )13. Revenue is recognized when we receive cash from the buyers. ( )14. Advertising expense is usually collected as period expense. ( )15. Interest revenue should be measured based on the length of time. ( )16. If revenue exceed expenses for the same accounting period, the entity is deemed to suffera loss. ( )17. Asset = liabilities + Expense. ( )18. Liabilities are debts of a business. ( )19. Borrowing cash from a bank belongs to revenue. ( )20. Increase in asset is recorded in credit side. ( )21. When depreciation is mainly due to wear and tear, straight-line method shall be employed. ( )22. Bonds payable belong to current liabilities.( )23. All fixed assets are depreciable over their limited useful life.( )24. Fixed assets are intangible assets. ( )25. Internally generated goodwill can be viewed as intangible assets. ( )26. Land doesn`t need depreciation and is considered to have an infinite life. ( )五、翻译1. Accounting contains elements both of science and art. The important thing is that it is not merely a collection of arithmetical techniques but a set of complex processes depending on and prepared for people.2. Inventories refer to merchandise, finished goods, semi-finished goods, goods in process, and all kinds of materials, fuels, containers, low-value and perishable articles and so on that stocked for the purpose of sale, production or consumption during the production operational process, Inventories are normally accounted for at historical cost, as the cost principle requires. Normally, a company may account inventories under the following methods:(1)Specific identification (2)first-in, first-out(FIFO) (3)last-in, first-out(LIFO) (4)weighted average3. In contrast to current assets, long-term assets refer to those assets that will be realized or consumed within a period longer than one year of their acquisition, which are normally divided into fixed assets, intangible assets and deferred assets.Fixed assets refer to the assets whose useful life is over one year, unit value is above the prescribed criteria and where original physical form remains during the process of utilization.4. Depreciation is defined as the accounting process of systematically allocating the depreciable amount of a fixed asset over its useful life by a selected depreciation method. When calculating the depreciation expense of a fixed asset, an enterprise should consider its depreciable amount,estimated net residual value, estimated useful life, and the depreciation methods.5. The amount of retained earnings represents the cumulative net income of the firm since its beginning, less the total dividends that have been distributed to shareholders. It is important to note that retained earnings are not the assets, but the existence of retained earnings means that net assets generated by profitable operations have been kept in the company to help it grow or to meet other business needs. However, a credit balance in Retained Earnings does not mean that cash or any designated set of assets is directly associated with retained earnings. The fact that earnings have been retained means that net assets as a whole have been increased.6. In China, companies must provide “legal reserve.”Today in USA, appropriations of retained earnings are seldom seen on balance sheets.7. Revenue is the gross inflow of economic benefits arising in the course of the ordinary activities of an enterprise from such events as the sale of goods, the rendering of service and the use of enterprise by others. Revenue growth is an important indicator of the market reception of a company`s products and services.8. Sales revenue arises from the sale of goods.Service revenue arises from the rendering of services.9. Expenses refer to the outlays incurred by an enterprise in the course of production and operation. It means the outflows or other using up of assets or incurrence of liabilities during a period. According to the relationship with products, we can divide expenses into two categories: product costs and period expense.Product costs are directly related to the products, which are composed of direct material costs, direct labor costs and the indirect costs.10. Period expenses are not directly associated with products, but they are indispensable for generating the current revenue.11. A balance sheet is a summary of a company`s balances. Assets, liabilities and owner`s equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a snapshot of a company`s financial condition.12. The income statement is a financial statement that summarizes the results of a company`s operation by matching revenue and related expenses for a particular accounting period. It shows the net income or net loss. It is also called earnings statement, statement of operations, and profit and loss statement.13. The cash flow statement is a financial statement that reports the cash receipts and cash payments of an entity during a particular period. The term cash refers not only to the bills and coins we normally think of as cash, but also to cash equivalents. Cash equivalents are highly liquid short-term investment that can easily and quickly be converted into cash, usually with maturity of three months or less at the date of purchase.The cash flows of an entity usually come from cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities.14. Assets are economic resources that are possessed or controlled by an enterprise to generate revenue to the enterprise. Assets of an enterprise are usually divided into the following categories: current assets, long-term investment, fixed assets, intangible assets and other assets. Current assets are assets that will be realized or consumed within one year or within an operating cycle. Typical current assets include cash, bank deposit, accounts receivables and so on. Cash is listed first of all current assets because it is the most liquid of all assets.15. Long-term liabilities are obligations of business that are due to be paid after one year or beyond the operating cycle, whichever is longer. Decisions related to long-term debt are critical because how a company finances its operations is the most important factor in the company`s long-term liability. The amount and type of debt a company incurs depends on many factors, including the nature of the business, its competitive environment, the state of the financial markets, and the predictability of its earnings.六、业务题1.（1）According to the above information, use weighted-average method and the ending inventory should be（2）According to the above information, use LIFO method, the most assigned to the sold should be（3）According to the above information, use FIFO method, the cost assigned to the sold should be（4）According to the above information, use LIFO method, the cost assigned to the ending inventory is2.(1)On June 5, K. Company purchased $6000 of inventory, paying cash.(2)On June 10, K. Company received $10000 of good sales.(3)On June 12, K. Company paid $5000 in salaries by bank deposit.(4)Bought office furniture from Simple Company on account, $30000(5)On June 30, K. Company paid $10000 to Simple Company on account.3. Record each transaction in the accompanying account of L & T Co.(1) Bought supplies on account for $600.(2) Bought equipment for $2700, paying one third down and owing the balance.(3) Gave a note in settlement of transaction (2).(4) Received $500 as an income.4. Record the following entries in the general journal for Stephens Cleaning Company.(1) Invested $10000 cash in the business.(2) Paid $2000 for office furniture.(3) Bought equipment costing $6000 on account.(4) Received $2200 in cleaning income.(5) Paid a quarter of the amount owed on the equipment.5.(1)Accounting to the following information, use weighted-average method and the ending inventory should be(2)Using the information from question(1), the LIFO method, the cost assigned to the ending inventory is6.Assuming that net purchase cost $250000 during the year and that the ending stock was $4000 less than the beginning stock of $30000, the cost of goods would be7. Emily started her business-Emily`s Bakery. The transaction in the year of 2008 are as follow.(1) Emily contributed $10000 in cash.(2) The company borrowed $3000 from a bank.(3) The company purchased equipment for $5000 cash.(4) The company performed service for $12000. The customer paid $8000 in cash and promised to pay the rest amount at a later date.(5) The company paid $9000 for expenses (wages, interest and maintenance)(6) The company paid dividend of $1000.The balance sheet of Emily`s bakeryDecember31, 2008Current Assets Current LiabilitiesLong-term Assets Long-term LiabilitiesOwner`s equityTotal Assets Total Liabilities and Owner`s Equity七、例题1.1 During the month of January, Ted Lott, a lawyer(1) Invested $8000 to open his practice.(2)Bought office supplies (stationery, forms, pencils, and so on)for cash, $700.(3) Bought several pieces of office furniture from Ferraro Furniture Company on account, $2000.(4) Receive $3500 in service fees earned during the month.(5) Paid office rent for January, $600.(6) Paid salary for part-time help, $800.(7) Paid $1600 to Ferraro Furniture Company on account.(8) After taking inventory at the end of the month, Lott found that he had used $200 worth of supplies.(9) Withdrew $470 for personal use.2.1 ABC Company had the following transaction in 2007.(1) Recognized $5000 of sales revenue earned on account.(2) Collected $3000 cash from accounts receivable.(3) Recognized $500 of bad debt expense for accounts receivable that are expected to be un-collectible in the future.2.3 Assume that ABC Company is a listed company. Simple buys 10000 shares of ABC Company`s common stock in New York Securities Exchange on November 1, 2007, at the price of $20 per share.2.4 (1) Assume that, on March 15, 2008, ABC company declared that they decided to give dividends at S3 per common stock. Thus, Simple Company would receive $30000 of dividend. At this time the cash was not given but an accounting record was requested.(2) On April, Simple Company received $30000 of cash dividend. So they need a new accounting record.4.1 Simple Company buys goods for $50000 on credit. The journal entry in Simple Company`s accounting records for this transaction.4.2 (1) On March 1, Simple Company borrows $40000 from its bank for a period of six months at an annual interest rate of 10%. Six months later on September 1, Simple Company will have to pay the bank the principal amount of $40000 plus $2000 interest. As an evidence of this loan, the bank requires Simple Company to issue a note payable. The journal entry in Simple Company`s accounting records for this March 1 borrowing is as follow.(2) Borrowed $40000 for six months at 10% interest per year.(3) The entry on September 1 to record payment of the note will be as follow.4.3 (1) Simple Company signed up a contract with another company to perform services. Simple Company received an advanced cash payment in the amount of $20000 and the term of the contract was one month. The transaction acts to increase assets (cash) and liabilities (unearned revenue). The journal entry in Simple Company`s accounting records for this transaction is as follow.(2) At this time, Simple Company received cash but didn`t perform the services. So the cash of $20000 was not the real revenue. Only when Simple Company performed the services, a new journal entry would be made in the follow.4.4 Bonds issued at a discountAssume that ABC Company plans to issue $1000000 face value of 10%, 10-year bonds. At the issuance date of May 1, the going market rate of interest is slightly above 10% and the bonds sell at a market price of only $950. The issuance of the bonds will be recorded by the following entry.4.5 In this example, the discount on bonds payable has a beginning debit balance of $50000. Each year $5000 will be amortized into Bond Interest Expense.Assuming that the interest payment dates are October 31 and April 30, the entries to be made each six months to record bond interest expense are as follow.(1) Paid semi-annual interest on $1000000 of 10%, 10-year bonds.(2) Amortized discount for six months on 10-year bond issue ($50000/20=$2500)5.1On January 1, Joan Adams and Richard Brown decide to form a partnership by consolidating their two retail stores. A capital account will be opened for each partner and credited, with the agreed valuation of the net assets that the partner contributes. The journal entries to open the accounts of the partnership of Adams and Brown are as follow.(1) To record the investment by Joan Adams in the partnership of Adams and Brown.(2) To record the investment by Richard Brown in the partnership of Adams and Brown.(3) After six months of operation the firm is in need of more cash, and the partners make additional investments of $10000 each on July 1. These additional investments are credited to the capital accounts as shown below.5.3 Adams and Brown have agreed to share profits equally. Assuming that the partnership earns net income of $60000 in the first year of operations, the entry to close the income summary account is as follow.(1) To divide net income for the year in accordance with partnership agreement to share profits equally.The next step in closing the accounts is to transfer the balance of each partner`s drawing account to his capital account. Assuming that withdrawals during the year amounted to $24000 for Adams and $16000 for Brown, the entry at December 31 to close the drawing accounts is as follow.(2) To transfer debit balances in partner`s drawing accounts to their respective capital accounts.5.4 The issuance of 100000 shares of common stock, par $1, for cash of $1.2 per share would be recorded as follow.5.5 Assume that a corporation issues 10000 shares of no-par common stock at $40 a share and ata later date issues 1000 additional shares at $36. The entries to record the no-par stock are as follow.(1) Issued 10000 shares of no-par common stock at $40.(2) Issued 1000 shares of no-par common stock at $36.5.6 Assume that a corporation has a balance of $300000 in retained earnings and 50000 shares of $10 par value common stock. The current fair market value of its stock is $15 per share.(1) If the corporation declares a 10% stock dividend, the entry to record this transaction at the declaration and payment date is as follow.(2) If the corporation declares a 40% stock dividend, the entry to record this transaction at the declaration and payment date is as follow.5.7 Assume that on December 1,2005, the directors of A corporation declare a 40 cents per share cash dividend on 100000 shares of $10 par value common stock. The dividend is $40000 (100000*0.4).(1) the entry to record the declaration is as follow.(2) At the end of the year, the dividends account is closed to retained earnings by the following entry.⼋、附加题1.Whether an account is to be debited or credited depends on the accounting elements. By convention, increases in assets and expenses are recorded as debits, whereas increases in liability, owner`s equity, revenue and profit are recorded as credits. Assets and expense decreases are recorded as credits, whereas liability, owner`s equity, revenue and profit decreases are recorded as debits.2.In an accounting system, a separate account is designated for each asset, each liability, and each component of owner`s equity, including revenues and expenses. That`s to say, accounts are grouped according to accounting elements. These groups of accounts are called the ledger.3. The chart of accounts is a listing of the accounts by title and number. Assets and liability accounts are arranged according to their liquidity. While income, expense and owner`s equity accounts are listed according to their importance.4.A business`s accounts receivable are the amounts that its customers owe it and these accounts receivable are sometimes called trade creditors.Allowance for bad debts is the estimated amount of accounts receivable that will not be collected.The net realizable value is the amount that a company is actually expecting to get in the future. Net realizable = accounts receivable — allowance for bad debts4. Short-term investments refer to various marketable securities, which can be realized at any time and will be held less thana year, as well as other investment with a life of no longer thana year.。
英文会计 ACCOUNTING 最新海外复习资料
FA最全复习资料【3表格式，真题，网题】Section A: Multiple ChoicePPT的文字部分e.g.账本的作用，账本分哪几种，记账怎么记—Some calculations—Some theory：concepts and standards, definitions, descriptions, journal entries (debits & credits)课本online quizzes：/sites/0077122801/student_view0/chapter1/#Section BCash Flow Statement££CASH FLOWS FROM OPERATIING ACTIVITIESProfit before tax xxx Adjustment for:+Depreciation/Amortization+Interest Payable/- Interest Receivable xxx xxx+Increase in PDD/- Decrease in PDD xxx+Loss /-Gains on sale of P&M xxx Operating cash flows before movements in working capital xxx -Inventory increase/+ Inventory decrease xxx-Receivable increase/+ Receivable decrease xxx-Payable decrease/+ Payable increase xxx-Prepayment increase xxx-expense owing decrease/+expense owing increase xxxCash generated by operations xxx -interest paid (xxx)-taxation paid (xxx) (xxx) Net cash provided by/used in operating activities xxxCASH FLOWS FROM INVESTING ACTIVITIES-Purchase of plant and machinery (tangib le fixed assets) xxx-Purchase of intangible fixed assets xxxxxx +Proceeds on disposal of fixed assets (Receipts from sales oftangible fixed assets)+Dividends received* xxx+Interest received* xxxNet cash used in/provided by investing activities xxxCASH FLOW FROM FINANCING ACTITIVIES-Repayment/repurchase of loan/debenture (xxx)+Issue of shares at premium/ordinary xxx-Ordinary/preference dividends paid*(xxx)-Expense paid in connection with share issues (xxx)Net cash provided by/used in financing activ ities xxxAnalysis of changes in cash during the yearIncrease/decrease in cash and cash equivalent xxx Opening cash balance/Opening overdraft xxx Closing cash balance/Closing overdraft xxx*The position in the cash flow statement for these items is not precisely defined in IAS 7, and choice exits in the presentation. Interest paid, and interest and dividends received, could either be classified as operating cash flows or as financing (for interest paid) and investing cash flows (for the receipts). Div idends paid could either be presented as financing cash flow or as operating cash flows. However, it is a requirement that whichever presentation is adopted by an enterprise should be consistently applied form year to year.Workings:Depreciation for the yearOpening balance of fixed asset (NBV): xxx Disposal of fixed asset (NBV): (xxx) Purchase of fixed asset (cost=NBV): xxx Closing balance of fixed asset (NBV): (xxx) Depreciation for the year xxxTax for the yearT ax payable at beginning: xxxT ax for the year：xxxT ax payable at the end: (xxx)T ax paid during the year: xxxEquity dividendsDividends payable at beginning: xxx Dividends for the year: xxx Dividends at the end: (xxx) Dividends paid during the year: xxxIncome statementSalesLess: returns inwardsLess: Cost of sales:Opening stock+purchases-returns outwards+carriage inwards-closing stock=Gross profit+Discount received+Gains/-loss on sales of fixed assetLess: expenditure:Distribution costs (e.g. motor expenses)Administrative expenses (e.g. salaries, insurances, director‘s remuneration, electricity, water, rental of machinery) (+accruals,-prepayment)General expensesBad debtsincrease (decrease) in provision for double debtsGoodwill impairmentDepreciationDiscount allowed=Profit before interest and tax-interest=Profit before tax-T ax=Profit after taxBalance sheetASSETS£££Non-current Assets Cost Acc. Depn NPV Intangible assetsGoodwill xxx xxx xxx Tangible assetsLand and buildings xxx xxx xxx Leasehold Premises xxx xxx xxx Plant and machinery xxx xxx xxxxxx xxx xxxCurrent AssetsInventory xxxDebtors/Receivable xxxLess: accumulated provision for doubtful debts (xxx)Prepayment xxxBank/Bank Deposit xxxCash xxx xxx Total Assets xxx Current LiabiltyCreditors/Payable xxxDebenture interests* xxxAccrued charges** xxxCorporation tax xxxProposed dividends/dividends payable xxxBank overdraft*** xxx xxx Total Current Liability xxxNon-current Liability10% debenture/debenture loannotes xxx Total Liability xxx Net assetsEquityCalled-up share capital xxxShare premium**** xxxRevaluation reserve xxxGeneral reserve xxxProfit and loss account***** xxx xxx Total Equity xxx∙debenture interest of 10% debenture=xxx (debenture amount)× 10%8%debenture=xxx (debenture amount) × 8%∙Accrued charges=total amount of accruals at the end of year∙Bank overdraft is current liability. Either Bank or bank overdraft will occur in BS.∙Share premium account is reserve. Shares can be issued for more than their nominal value. The excess of the price at which they are issued over the nominal value of share is credited to a share premium account shown with other reserves in the total balance sheet.∙Profit and Loss account in BS=Retained profit carried forward to next year P/L ∙Revaluation reserve: for example, the land and buildings has been revalued from £30,000 to £50,000, then the cost of land and building should be adjusted added by £20,000 and revaluation reserve in ‗capital and reserve‘ should be prepared as well.Section C Answer one question out of three.—requires knowledge of concepts and perhaps accounting standards or accounting records.—Sometimes these deal with ideas that we use all the time – such as depreciation, or matching, or the accounting equation –but sometimes the topics are ones I have introduced more briefly.历年真题07083. Explain the difference between the straight line and reducing balance methods of depreciation, saying when reducing balance might be the most appropriate method.(10 marks)4. Briefly explain the following accounting rules:(a) Materiality(b) Historic cost(c) Money measurement(d) Realisation(10 marks)5. Explain how typically each of the following reserves arise:a) Share premiumb) Profit and loss reservec) Revaluation reserve(10 marks)080923. You work as accountant for a sole trader, who says to you, ―I don‘t understand why I need an overdraft from the bank for the first time. I have made good profits for the last three years.‖ Write a brief explanation of why this might happen.(10 marks) 24. The owner of a small family business is looking at an income statement you have prepared for him and asks ―What is this item, called depreciation? I don‘t think I bought any this year. I think I had some last year, but I don‘t remember what it was for.‖ How would you explain to him the meaning of this charge, and why it appears every year?(10 marks) 25. i) Explain in simple terms the difference between an Income Statement and a Balance Sheet.(4 marks) ii) What is the impact on the Income Statement and the Balance Sheet ofa) Inventoryb) Depreciationc) Sales(6 marks)091023 Name 4different groups of user of financial statements, and explain why they areinterested in this information.(10 marks) 24 Explain what in accounting is meant by ―prudence‖, and explain its significance , giving examples.(10 marks) 25 The IASB framework names two underlying assumptions: accrual basis and going concern. Explain, with appropriate illustrations, what is meant by both of these terms.(10 marks)101123. Explain what is meant by ―statement of comprehensive income‖(10 marks)A statement combines all income, whether recognized or not.Two parts: the first part"IS" deals with realized profits or losses, ranges from ‗revenue‘to ‗Net profit‘Second part ‖other comprehensive‖ contain any unrealized surplus on the revaluation of non-current assets.24. Outline the way in which ordinary dividends are shown under IAS1.(10 marks) 25. Explain, giving one or more examples, the accounting concept of separate determination.(10 marks)考完回家！不完善处希望大家多多指正！^^。
会计专业英语复习资料10页word文档
会计专业英语复习资料一、短语中英互译1、会计分录2、投资活动3、后进先出法4、客观性原则5、注册会计师6、权责发生制7、累计折旧8、资产负债表9、经营决策10、银行存款11、到期日12、历史成本13、source document14、nominal rate15、credit sale16、sum-of-years-digits method17、economic entity assumption18、financial position19、fixed assets20、public hearing21、income statement22、sales discount23、value added tax24、trade mark25、bank overdraft二、从下列选项中选出最佳答案1、Generally，revenue is recorded by a business enterprise at a pointwhen ：( )A、Management decides it is appropriate to do soB、The product is available for sale to consumersC、An exchange has taken place and the earning process isvirtually completeD、An order for merchandise has been received2、Why are certain costs capitalized when incurred and then depreciated or amortized over subsequent accounting periods？( )A、To reduce the income tax liabilityB、To aid management in making business decisionsC、To match the costs of production with revenue as earnedD、To adhere to the accounting concept of conservatism3、What accounting principle or concept justifies the use of accruals and deferrals？( )A、Going concernB、MaterialityC、ConsistencyD、Stable monetary unit4、An accrued expense can best be described as an amount ( )A、Paid and currently matched with revenueB、Paid and not currently matched with revenueC、Not paid and not currently matched with revenueD、Not paid and currently matched with revenue5、Continuation of a business enterprise in the absence of contrary evidence is an example of the principle or concept of ( )A、Business entityB、ConsistencyC、Going concernD、Substance over form6、In preparing a bank reconciliation，the amount of checks outstanding would be：( )A、added to the bank balance according to the bank statement.B、deducted from the bank balance according to the bank statement.C、added to the cash balance according to the depositor’s records.D、deducted from the cash balance according to the depositor’srecords.7、Journal entries based on the bank reconciliation are requiredfor：( )A、additions to the cash balance according to the depositor’srecords.B、deductions from the cash balance according to the depositor’srecords.C、Both A and BD、Neither A nor B8、A petty cash fund is ：( )A、used to pay relatively small amounts。
国际会计双语期末复习精品文档12页
Chap 11. The amounts of the assets and liabilities of Chickadee Travel Service at April 30, 2019, the end of the current year, and its revenue and expenses for the year are listed below. The capital of Adam Cellini, owner, was $50,000 at May 1,2019, the beginning of the current year, and the owner withdrew $30,000 during the current year.Accounts payable $ 12,200Accounts receivable 31,350 Cash 53,050 Fees earned 263,200 Miscellaneous expense 2,950Rent expense 37,800 Instructions2. Prepare an income statement for the current year ended April 30, 2019.3. Prepare a statement of owner ' s equity for the current year ended April 30, 2019.4. Prepare a balance sheet as of April 30, 2019.答案： 1.CHICKADEE TRAVEL SERVICE Income StatementFor the Year Ended April 30, 20192.CHICKADEE TRAVEL SERVICEStatement of Owner's EquityAdam Cellinic, capital, May 1,2009 Net income for the year Less withdrawals Increase in owner's equity Adam Cellinic, capital, April 30, 20193.Supplies $ 3,350 Supplies expense 7,100 Taxes expense 5,600 Utilities expense 22,500 Wages expense 131,700Fees earned Expenses: Wages expense Rent expense Utilities expense Supplies expense Taxes expense Miscellaneous expenseTotal expensesNet income$263,200$131,700 37,800 22,500 7,100 5,600 2,950207,650 $55,550CHICKADEE TRAVEL SERVICEBalance SheetApril 30,2019Liabilities$87,750_Total liabilities and owner's equity$87,750Chap 21. The Zuni Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Gayle McCall, Capital; Gayle McCall, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.Journalize the following selected transactions for August 2019 in a two-column journal. Journal entry explanations may be omitted. August 1. Paid rent for the month, $1,500.2. Paid advertising expense, $700. 4. Paid cash for supplies, $1,050.6. Purchased office equipment on account, $7,500. 8. Received cash from customers on account, $3,600. 12. Paid creditor on account, $1,150. 20. Withdrew cash for personal use, $1,000.25. Paid cash for repairs to office equipment, $500. 30. Paid telephone bill for the month, $195.31. Fees earned and billed to customers for the month, $10,150. 32. Paid electricity bill for the month, $380.答案：2019August 1. Rent Expense (1500)Cash ........................................ 1500 2. Advertising Expense . (700)Cash ........................................ 700 4. Supplies . (1050)Cash ........................................ 1050 6. Office Equipment .. (7500)Accounts Payable ............................ 7500 8. Cash (3600)Accounts Receivable ........................ 3600 12. Accounts Payable (1150)Cash .......................................... 1150 20. Gayle McCall, Drawing .. (1000)Cash .............................................. 1000 25. Miscellaneous Expense (500)Cash (500)AssetsCash Accounts receivable SuppliesAccounts payable$53,050 3,1503,350 Owner's Equity$ 75,550$12,200Total assets30.Utilities Expense (195)Cash (195)31.Cash (10150)Fees Earned (10150)32.Utilities Expense (380)Cash (380)Chapter 3? The Matching Concept and the Adjusting ProcessPROBLEM 3-5AGreco Service Co., which specializes in appliance repair services, is owned and operated by Curtis Loomis. Greco Service Co. ' s accounting clerk prepared the followingtrial balance at December 31,2019:Greco Service Co.Trial BalanceDecember 31,2019Cash .................................................................. 4,200Accounts Receivable ................................................... 20,600Prepaid Insurance ...................................................... 6,000Supplies .............................................................. 1,450Land ................................................................. 100,000Building .............................................................. 161,500Accumulated Depreciation —Building ....................... ................................75,700 Equipment ...................................................... 80,100Accumulated Depreciation —Equipment ................................................ 35,300Accounts Payable ............................ ....................................................7,500 Unearned Rent ................... ..........................................................7,200 Curtis Loomis, Capital ....... ...........................................................157,100 Curtis Loomis, Drawing ............................................ 5,000Fees Earned ........................... ........................................................257,200 Salaries and Wages Expense ........................................ 101,800Utilities Expense ..................................................... 28,200Advertising Expense .................................................... 15,000Repairs Expense ........................................................ 12,100Miscellaneous Expense .................................................. 4,050540,000 540,000 The data needed to determine year-end adjustments are as follows: a. Depreciation of building for the year, $3,600. b. Depreciation of equipment for the year, $2,400. c. Accrued salaries and wages at December 31, $2,170. d. Unexpired insurance at December 31, $3,500. e. Fees earned but unbilled on December 31, $4,350. f. Supplies on hand at December 31, $375.g. Rent unearned at December 31, $2,800. Instructions 1. Journalize the adjusting entries. Add additional accounts as needed. 2. Determine the balances of the accounts affected by the adjusting entries and prepare an adjusted trial balance. 答案：1.2.Repairs ExpenseDepreciation Expense - Equipment Insurance ExpenseDepreciation Expense - Building Supplies Expense Miscellaneous ExpenseChapter 4 Completing the Accounting Cycle1. I thaca Services Co. offers cleaning services to business clients. Complete the following work sheet for Ithaca Services Co, and prepare an income statement, statement of owner s equity, balance she and the closing entries for Ithaca Services Co.Ithaca Services Co.Work Sheet For the Year Ended January 31,2019Account Title Adjusted Trial BalanceIncome StatementBalance SheetDr.Cr.Dr.Cr.Dr.Cr.Cash8Accounts Receivable 57Supplies3Prepaid Insurance 6Land r 501Equipment32Accumulated Depr. — Equip. 7Accounts Payable26Wages Payable1Terry Dagley, Capital 112Terry Dagley, Drawing 8Fees Earned 67Wages Expense 17Rent Expense 8Insurance Expense r 6 1Utilities Expense 6Depreciation Expense 5Supplies Expense 51Miscellaneous Expense 2Totals213213Net income (loss)答案:ITHACA SERVICES CO. Income Statement For the Year Ended January 31, 2019 Fees earned .................................................... $67 Expenses: Wages expense .............................. $17 Rent expense ....................................... 8 Insurance expense .................................. 6 Utilities expense .................................. 6 Supplies expense .. (5)12,100 2,400 2,500 3,600 1,075 4,050 552,520Depreciation expense ................................ 5 Miscellaneous expense ............................... 2 Total expenses ....................... Net income .................................... ITHACA SERVICES CO.Statement of Owner s EquityFor the Year Ended January 31,2019 Terry Dagley, capital, $112Net income for the year ................................ $18 Less withdrawals (8)Increase in owner equity ............................................... 10 Terry Dagley, capital, October 31, 2019 ............................... $122ITHACA SERVICES CO. Balance Sheet January 31, 2019 Assets LiabilitiesCurrent assets: Current liabilities: Cash .................... $ 8 Accounts payable ...... $26 Accounts receivable.... 57 Wages payable ........... 1 Supplies ............. 3 Total liabilities ......... $ 27 Prepaid insurance . (6)Total current assets.. $ 74 Property, plant, and equipment: Land $ 50 Equipment .......... $32Less accum. depr.... 7 ___ Owner' s Equity Total property, plant, Terry Dagley, capital... 122 and equipment... ...75 Total liabilities and Total assets ................. $149 owner' s equity. .$149 2019 Jan. 31 Fees Earned . (67)Income Summary (67)31 Income Summary (49)Wages Expense ............................... 17 Rent Expense ................................ 8 Insurance Expense ........................... 6 Utilities Expense ........................... 6 Supplies Expense ............................ 5 Depreciation Expense ...................... 5 Miscellaneous Expense (2)31 Income Summary (18)Terry Dagley, Capital (18)31 Gloria Millard, Capital (8)Terry Dagley, Drawing (8)Chapter 6 ? Accounting for Merchandising BusinessesPROBLEM 6-5AThe following were selected from among the transactions completed by Ingress Company during January of the current year:Jan. 3. Purchased merchandise on account from Pynn Co., list price $16,000, trade discount 35%, terms FOB shipping point, 2/10, n/30, with prepaid transportation costs of $320 added to the invoice.5. Purchased merchandise on account from Wilhelm Co., $8,000, terms FOB destination, 1/10,n/30.6. Sold merchandise on account to Sievert Co., list price $12,500, trade discount 40%, terms 2/10, n/30. The cost of the merchandise sold was $4,500.7. Returned $1,800 of merchandise purchased on January 5 from Wilhelm Co. 13. Paid Pynn Co. on account for purchase of January 3, less discount.15. Paid Wilhelm Co. on account for purchase of January 5, less return of January 7 and discount. 16. Received cash on account from sale of January 6 to Sievert Co., less discount.19. Sold merchandise on nonbank credit cards and reported accounts to the card company, American Express, $6,450. The cost of the merchandise sold was $3,950.22. Sold merchandise on account to Elk River Co., $3,480, terms 2/10, n/30. The cost of the merchandise sold was $1,400.23. Sold merchandise for cash, $9,350. The cost of the merchandise sold was $5,750.25. Received merchandise returned by Elk River Co. from sale on January 22, $1,480. The cost of the returned49_ ..$ 18merchandise was $600.31.Received cash from American Express for nonbank credit card sales of January 19, less $225 service fee. InstructionsJournalize the transactions.答案：1.Jan. 3 Merchandise Inventory ................... 10,720Accounts Payable —Pynn Co ................................ 10,720[$16,000 - ($16,000 35%)] = $10,400;$10,400 + $320 = $10,720.5 Merchandise Inventory ........................... 8,000Accounts Payable —Wilhelm Co .............................. 8,0006 Accounts Receivable —Sievert Co ..................... 7,500Sales ............................................. 7,500[$12,500 - ($12,500 *0%)] = $7,5006Cost of Merchandise Sold ....................... 4,500Merchandise Inventory ..................................... 4,5007Accounts Payable —Wilhelm Co ................. 1,800Merchandise Inventory .................................... 1,80013 Accounts Payable —Pynn Co .................... 10,720Cash ...................................................... 10,512Merchandise Inventory (208)15 Accounts Payable —Wilhelm Co ..................... 6,200Cash .............................. ...................... 6,138Merchandise Inventory (62)16 Cash ................................................ 7,350Sales Discount (150)Accounts Receivable —Sievert Co ......................... 7,50019 Accounts Receivable--American Express .............. 6,450Sales .................................................... 6,45019 Cost of Merchandise Sold .......................... 3,950Merchandise Inventory ........ ................ 3,95022 Accounts Receivable —Elk River Co ............. 3,480Sales .................................................... 3,48022 Cost of Merchandise Sold .......................... 1,400Merchandise Inventory .......... ............ 1,40023 Cash ................................................ 9,350Sales ................................................... 9,350Dec. 23 Cost of Merchandise Sold ..................... 5,750Merchandise Inventory ........ ............... 5,75025 Sales Returns and Allowances .................... 1,480Accounts Receivable —Elk River Co. ... …1,48025 Merchandise Inventory (600)Cost of Merchandise Sold ............ .. (600)31 Credit Card Expense (225)Cash (225)Cash ............................................... 6,450Accounts Receivable--American Express ............. 6,450Questions of chap 7 Inventories1.The units of an item available for sale during the year were as follows:Jan. 1 Inventory 42 units at $120Mar. 4 Purchase 58 units at $130Aug. 7 Purchase 20 units at $136Nov. 15 Purchase 30 units at $140There are 36 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost and the cost of merchandise sold by three methods, presenting your answers in the following form:Cost Inventory Method Merchandise InventoryMerchandise Solda.First-in, first-out $ $st-in, first-outc. Average cost 答案：CostMerchandise MerchandiseInventory Method Inventory Solda.FIFO .............. $5,016 $14,484b.LIFO .............. 4,320 15,180c.Average cost ...... 4,680 14,820Cost of merchandise available for sale: 42 units at $120 .$5,04058 units at $130 ...................................... 7,54020 units at $136 ...................................... 2,72030 units at $140 ...................................... 4,200150 units (at average cost of $130) ................... $19,500a.First-in, first-out: Merchandise inventory: 30 units at $140 $4,2006 units at $136 (816)36 units ............................................. $5,016Merchandise sold: $19,500 - $5,016 ......................... $14,484st-in, first-out: Merchandise inventory: 36 units at $120 $4,320Merchandise sold: $19,500 - $4,320 ...................... $15,180c.Average cost:Merchandise inventory:36 units at $130($19,500/150 units) ....................$4,680Merchandise sold:$19,750 - $4,680 ........................................ $14,820Chap 81. The following data were accumulated for use in reconciling the bank account ofKidstock Co. for March:a.Cash balance according to the depositor ' s records at March 31, $7,671.45.b.Cash balance according to the bank statement at March 31, $4,457.25.c.Checks outstanding, $2,276.20.d.Deposit in transit, not recorded by bank, $5,780.40.e. A check for $145 in payment of an account was erroneously recorded in thecheck register as $451.f.Bank debit memorandum for service charges, $16.00.Prepare a bank reconciliation, using the format shown in Exhibit 7.And journalize the entry or entries that should be made by the depositor.答案：Kidstock CO.Bank ReconciliationMarch 31, 20 — Cash balance according to bank statement .............................................................. $4457.25Add deposit in transit, not recorded by bank .................. 5780.4$17,850Deduct outstanding checks ..................................... 2276.2 _______Adjusted balance ................................................ $7961.45Cash balance according to company ' s records .......................... 7671.45Add error in recording check (306)$13,695 Deduct bank service charge (16)Adjusted balance ................................................ $7961.45EntriesCash (306)Accounts Payable (306)Miscellaneous Administrative Expense (16)Cash (16)Chap91、For a business that makes advance provision for uncollectible receivables(a)Journalize the entries to record the following:(1)Record the adjusting entry at December 31, the end of the fiscal year, to provide for doubtfulaccounts. The accounts receivable account has a balance of $800,000, and the contra asset accountbefore adjustment has a debit balance of $600. Analysis of the receivables indicates doubtfulaccounts of $18,000.(2)In March of the following fiscal year, the $350 owed by Fronk Co. on account is written off asuncollectible.(3)Eight months later, $200 of the Fronk Co. account is reinstated and payment of thatamount is received.(4)In October, $400 is received on the $600 owed by Dodger Co. and the remainder is written off asuncollectible.(b)Based on the data in (a)⑴ above, what is the net realizable value of the accounts receivable asreported on the balance sheet as of December 31?(c)Assuming that the business had been following the direct write-off procedure in accounting foruncollectible receivables, journalize the entries to record the following:(1)Recorded the write-off of account of Fronk Co. [(a) (2) above].(2)Reinstated account of Fronk Co. for $200 and recorded payment of that amount received [(a) (3)above].(3)Recorded the receipt of $400 from Dodger Co. in (a) (4) above and wrote off the remainder owedas uncollectible.2.Watson Company issued a 60-day, 8% note for $18,000, dated April 5, to Laker Company on account.(Assume a 360-day year when calculating interest.)(a)Determine the due date of the note.(b)Determine the maturity value of the note.(c)Journalize the entries to record the following:(1)receipt of the note by the payee, and(2)receipt by the payee of the amount due on the note at maturity. Round answers to the nearest$1.答案：1、(a)⑴Uncollectible Accounts Expense Allowance forDoubtful Accounts 18,60018,600(2) Allowance for Doubtful Accounts 350Accounts Receivable-Fronk Co 350 ⑶Accounts Receivable-Fronk Co 200Allowance for Doubtful Accounts 200Cash 200Accounts Receivable-Fronk Co 200 (4) Cash 400Allowance for Doubtful Accounts 200Accounts Receivable-Dodger Co 600(b) $782,000 ($800,000 - $18,000)(c)⑴Uncollectible Accounts ExpenseAccounts Receivable-Fronk Co 350350(2) Accounts Receivable-Fronk Co 200Uncollectible Accounts Expense 200Cash 200Accounts Receivable-Fronk Co 200 ⑶Cash 400Uncollectible Accounts Expense 200Accounts Receivable-Dodger Co 600 2、(a) June 4(b) $18,240(c) Note Receivable-Watson CoAccount Receivable-Watson Co Cash18,240Note Receivable-Watson Co 18,000Interest Revenue240Chap10Getco Co. has a sales representative who must travel a substantial amount. A car for this purpose was acquired January 2 four years ago at a cost of $20,000. It is estimated to have a total useful life of 4 years or 100,000 miles and no re-sidual value.Instructions:(1) Record the annual depreciation on Getco s car at the end of the first and third years of ownership using the straight-line method and a December 31 year end.(2) Record the annual depreciation on Getco s car at the end of the first and third years of ownership using the double-declining-balance method and a December 31 year end.(3) Record the annual depreciation on Getco s car at the end of the first and third years of ownership using the units-of-production method, assuming no residual value, and using a December 31 year end. The car was driven 35,000 miles in the first year and 28,000 miles in the third year.答案：(1) Dec. 31 Depreciation Expense —Automobile .............. 5,000* Accumulated Depreciation —Automobile ............ 5,000 *($20,000/4)Dec. 31 Depreciation Expense —Automobile ....................... 5,000 Accumulated Depreciation —Automobile ............ 5,000 (2) Dec. 31 Depreciation Expense —Automobile ..................... 10,000* Accumulated Depreciation —Automobile ............ 10,000 *($20,000 x 50%)Dec. 31 Depreciation Expense —Automobile ..................... 2,500* Accumulated Depreciation —Automobile ............ 2,500 *[($20,000 - $10,000 - $5,000) x 50%](3) Dec. 31 Depreciation Expense —Automobile .............. 7,000* Accumulated Depreciation —Automobile ...... 7,000 *(35,000 miles x $0.20) Dec. 31 Depreciation Expense —Automobile ..................... 5,600* Accumulated Depreciation —Automobile ...... 5,600 *(28,000 milesx $0.20)Chapter 11 —Current Liabilities and Payroll1.On January 2nd, Premier Sales borrows $13,500 cash on a note payable from Trusted Lenders with terms 90 days, 12%. Premier Sales and Trusted Lenders uses a 360-day year for interest calculations. Premier Sales makes adjusting entries at the end of each calendar quarter. Journalize the initiation of the loan, the recognition of interest expense for the quarter and the payment of the note on its due date.2.On August 1, Batson Company issued a 60-day note with a face amount of $120,000 to Jergens Company for merchandiseinventory. (Assume a 360-day year is used for interest calculations.)a. Determine the proceeds of the note assuming the note carries an interest rate of 6%.b.Determine the proceeds of the note assuming the note is discounted at 6%.答案：1. ANS:18,00018,000April 2 Calculations: $13,500x12%x (2/360 days) = $92. On August 1, Batson Company issued a 60-day note with a face amount of$120,000 to Jergens Company for merchandise inventory. (Assume a 360-day year is used for interest calculations.)Determine the proceeds ofthe note assuming the note carries an interest rate of6%. Determine the proceeds ofthe note assuming the note is discounted at 6%. $120,000$118,800$120,000-($120,000 6% 60/360)A company had stock outstanding as follows during each of its first three years of operations:2,500 shares of$10, $100 par, cumulative preferred stock and 50,000 shares of$10 par common stock.The amounts distributed as dividends are presented below. Determine the total and per share dividends for each class of stock for each year by completing the schedule.Preferred Common2. On May 1, 10,000 shares of$10 par common stock were issued at $30, and on May 7, 5,000 shares of$50 par preferred stock were issued at$111. Journalize the entries for May 1 and May 7.3. A corporation purchased for cash 5,000 shares of its own $10 par common stock at $26 a share. In thefollowing year, it sold 2,000 of the treasury shares at $29 a share for cash.(a) Journalize the entries to record the purchase (treasury stock is recorded at cost).Journalize the entries to record the sale of the stock.a. Ib. I2.ANS:a. b. Chap 121. .Year 1 2 3Dividends$10,000 25,00060,000Total Per Share Total Per Share (b)。
会计专业英语重点资料
Unit 1Financial information about a business is needed by many outsiders .These outsiders include owners, bankers, other creditors, potential investors, labor unions, government agencies ,and the public ,because all these groups have supplied money to the business or have some other interest in the business that will be served by information about its financial position and operating results. 许多企业外部的人士需要有关企业的财务信息，这些外部人员包括所有者、银行家、其他债权人、潜在投资者、工会、政府机构和公众，因为这些群体对企业投入了资金，或享有某些利益，所以必须得到企业财务状况和经营成果信息。
Unit 2Each proprietorship, partnership, and corporation is a separate entity.每一独资企业、合伙企业和股份公司都是一个单独的主体。
In accrual accounting, the impact of events on assets and equities is recognized on the accounting records in the time periods when services are rendered or utilized instead of when cash is received or disbursed. That is revenue is recognized as it is earned, and expenses are recognized as they are incurred –not when cash changes hands .if the cash basis accounting were used instead of the accrual basis, revenue and expense recognition would depend solely on the timing of various cash receipts and disbursements.在权责发生制下，视服务的提供而非现金的收付在本期对资产和权益的影响作出会计记录。
国际会计资资料料大全(英文版)(pdf 108页)
• Choose items that are important to the companies
• Discuss: how these items are treated in different accounting systems? Why they are treated differently / similarly in different accounting systems?
– Harmonization of accounting standards – Harmonization of accounting practices
8
International Harmonization of Financial Reporting
• Arguments for harmonization
International Accounting
Instructor 1: SHI Haina Office: Rm303, SiYuan Faculty Building Consulting Hours: Tuesday 9:30 – 11:30 am; Thursday 9:30 – 11:30 am Instructor 2: ZHOU Hong Office: Rm316, SiYuan Faculty Building Consulting Hours: Thursday 1:30 – 3:30 pm
2
International Accounting
• Grading and evaluation
– Attendance and participation 10%
– Presentation (group)
40%
accountingenglish2 (3)
Review of chapter 4 (I)
The financial statements that are dated for a time period (rather than a specific time) are the ( ) a. Balance sheet and income statement b. Balance sheet and statement of changes in owner's equity c. Income statement and statement of changes in owner's equity d. All financial statements are dated for a time period.
Utilities
and . . . .
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5.3 Adjustments to the Accounts
At the end of the period, the accountant prepares the financial statements. This end-of-the-period process begins with the trial balance that lists the accounts and their balances after the period’s transactions have been recorded in the journal and posted to the accounts in the ledger.
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专业外语
9
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FA最全复习资料【3表格式，真题，网题】Section A: Multiple ChoicePPT的文字部分e.g.账本的作用，账本分哪几种，记账怎么记—Some calculations—Some theory：concepts and standards, definitions, descriptions, journal entries (debits & credits)课本online quizzes：/sites/0077122801/student_view0/chapter1/#Section BCash Flow Statement££CASH FLOWS FROM OPERATIING ACTIVITIESProfit before tax xxx Adjustment for:+Depreciation/Amortization+Interest Payable/- Interest Receivable xxx xxx+Increase in PDD/- Decrease in PDD xxx+Loss /-Gains on sale of P&M xxx Operating cash flows before movements in working capital xxx -Inventory increase/+ Inventory decrease xxx-Receivable increase/+ Receivable decrease xxx-Payable decrease/+ Payable increase xxx-Prepayment increase xxx-expense owing decrease/+expense owing increase xxxCash generated by operations xxx -interest paid (xxx)-taxation paid (xxx) (xxx) Net cash provided by/used in operating activities xxxCASH FLOWS FROM INVESTING ACTIVITIES-Purchase of plant and machinery (tangib le fixed assets) xxx-Purchase of intangible fixed assets xxxxxx +Proceeds on disposal of fixed assets (Receipts from sales oftangible fixed assets)+Dividends received* xxx+Interest received* xxxNet cash used in/provided by investing activities xxxCASH FLOW FROM FINANCING ACTITIVIES-Repayment/repurchase of loan/debenture (xxx)+Issue of shares at premium/ordinary xxx-Ordinary/preference dividends paid*(xxx)-Expense paid in connection with share issues (xxx)Net cash provided by/used in financing activ ities xxxAnalysis of changes in cash during the yearIncrease/decrease in cash and cash equivalent xxx Opening cash balance/Opening overdraft xxx Closing cash balance/Closing overdraft xxx*The position in the cash flow statement for these items is not precisely defined in IAS 7, and choice exits in the presentation. Interest paid, and interest and dividends received, could either be classified as operating cash flows or as financing (for interest paid) and investing cash flows (for the receipts). Div idends paid could either be presented as financing cash flow or as operating cash flows. However, it is a requirement that whichever presentation is adopted by an enterprise should be consistently applied form year to year.Workings:Depreciation for the yearOpening balance of fixed asset (NBV): xxx Disposal of fixed asset (NBV): (xxx) Purchase of fixed asset (cost=NBV): xxx Closing balance of fixed asset (NBV): (xxx) Depreciation for the year xxxTax for the yearT ax payable at beginning: xxxT ax for the year：xxxT ax payable at the end: (xxx)T ax paid during the year: xxxEquity dividendsDividends payable at beginning: xxx Dividends for the year: xxx Dividends at the end: (xxx) Dividends paid during the year: xxxIncome statementSalesLess: returns inwardsLess: Cost of sales:Opening stock+purchases-returns outwards+carriage inwards-closing stock=Gross profit+Discount received+Gains/-loss on sales of fixed assetLess: expenditure:Distribution costs (e.g. motor expenses)Administrative expenses (e.g. salaries, insurances, director‘s remuneration, electricity, water, rental of machinery) (+accruals,-prepayment)General expensesBad debtsincrease (decrease) in provision for double debtsGoodwill impairmentDepreciationDiscount allowed=Profit before interest and tax-interest=Profit before tax-T ax=Profit after taxBalance sheetASSETS£££Non-current Assets Cost Acc. Depn NPV Intangible assetsGoodwill xxx xxx xxx Tangible assetsLand and buildings xxx xxx xxx Leasehold Premises xxx xxx xxx Plant and machinery xxx xxx xxxxxx xxx xxxCurrent AssetsInventory xxxDebtors/Receivable xxxLess: accumulated provision for doubtful debts (xxx)Prepayment xxxBank/Bank Deposit xxxCash xxx xxx Total Assets xxx Current LiabiltyCreditors/Payable xxxDebenture interests* xxxAccrued charges** xxxCorporation tax xxxProposed dividends/dividends payable xxxBank overdraft*** xxx xxx Total Current Liability xxxNon-current Liability10% debenture/debenture loannotes xxx Total Liability xxx Net assetsEquityCalled-up share capital xxxShare premium**** xxxRevaluation reserve xxxGeneral reserve xxxProfit and loss account***** xxx xxx Total Equity xxx∙debenture interest of 10% debenture=xxx (debenture amount)× 10%8%debenture=xxx (debenture amount) × 8%∙Accrued charges=total amount of accruals at the end of year∙Bank overdraft is current liability. Either Bank or bank overdraft will occur in BS.∙Share premium account is reserve. Shares can be issued for more than their nominal value. The excess of the price at which they are issued over the nominal value of share is credited to a share premium account shown with other reserves in the total balance sheet.∙Profit and Loss account in BS=Retained profit carried forward to next year P/L ∙Revaluation reserve: for example, the land and buildings has been revalued from £30,000 to £50,000, then the cost of land and building should be adjusted added by £20,000 and revaluation reserve in ‗capital and reserve‘ should be prepared as well.Section C Answer one question out of three.—requires knowledge of concepts and perhaps accounting standards or accounting records.—Sometimes these deal with ideas that we use all the time – such as depreciation, or matching, or the accounting equation –but sometimes the topics are ones I have introduced more briefly.历年真题07083. Explain the difference between the straight line and reducing balance methods of depreciation, saying when reducing balance might be the most appropriate method.(10 marks)4. Briefly explain the following accounting rules:(a) Materiality(b) Historic cost(c) Money measurement(d) Realisation(10 marks)5. Explain how typically each of the following reserves arise:a) Share premiumb) Profit and loss reservec) Revaluation reserve(10 marks)080923. You work as accountant for a sole trader, who says to you, ―I don‘t understand why I need an overdraft from the bank for the first time. I have made good profits for the last three years.‖ Write a brief explanation of why this might happen.(10 marks) 24. The owner of a small family business is looking at an income statement you have prepared for him and asks ―What is this item, called depreciation? I don‘t think I bought any this year. I think I had some last year, but I don‘t remember what it was for.‖ How would you explain to him the meaning of this charge, and why it appears every year?(10 marks) 25. i) Explain in simple terms the difference between an Income Statement and a Balance Sheet.(4 marks) ii) What is the impact on the Income Statement and the Balance Sheet ofa) Inventoryb) Depreciationc) Sales(6 marks)091023 Name 4different groups of user of financial statements, and explain why they areinterested in this information.(10 marks) 24 Explain what in accounting is meant by ―prudence‖, and explain its significance , giving examples.(10 marks) 25 The IASB framework names two underlying assumptions: accrual basis and going concern. Explain, with appropriate illustrations, what is meant by both of these terms.(10 marks)101123. Explain what is meant by ―statement of comprehensive income‖(10 marks)A statement combines all income, whether recognized or not.Two parts: the first part"IS" deals with realized profits or losses, ranges from ‗revenue‘to ‗Net profit‘Second part ‖other comprehensive‖ contain any unrealized surplus on the revaluation of non-current assets.24. Outline the way in which ordinary dividends are shown under IAS1.(10 marks) 25. Explain, giving one or more examples, the accounting concept of separate determination.(10 marks)考完回家！不完善处希望大家多多指正！^^。