会计英语 第四版 叶建芳04
会计英语(第四版)(完整教资)
第一章会计总论学习目标：1.了解会计信息系统2.应用公认会计准则3.了解财务报表4.运用会计要素5.运用会计等式6.了解会计及其环境本章讨论不同的使用者对会计信息的需求，介绍不同实体对会计职业的影响、会计职业道德及职业行为准则。
本章也将对公认会计准则以及一些相关概念和原则进行解释。
本章将介绍会计等式：资产＝负债＋所有者权益，并逐一定义会计等式中的每个要素，举例分析不同业务对会计等式的影响。
同时，本章还将简单介绍财务报表。
1.1 会计是一个信息系统我们通常把会计描述为一个信息系统。
作为一个信息系统，会计计量经济活动，将信息编制成财务报表，并将财务报表传达给决策者。
会计的范围包括：确认经济事项，进行计量、记录、汇总，并把信息报告给使用者。
会计所涵盖的范围要大于簿记。
图表1－1是信息在会计系统内的流转图。
簿记是对交易和事件的记录，只是会计的一部分。
会计还包括对会计信息的分析和阐述，以帮助财务报表的外部和内部的使用者制定各项经济决策。
决策制定经济业务财务报告图表1-1 会计信息流转会计信息使用者主要是投资者和债权人，政府，工会，普通公众也会使用会计信息。
1.2 组织形式企业有三种组织形式：个人独资企业是指由一个自然人投资拥有的企业组织。
个人独资企业是一个会计实体，但并不是法律实体个人独资企业的所有者对企业的债务承担无限责任，这也是个人独资企业的一个主要缺点。
合伙企业与个人独资企业的区别只在于它有两个或两个以上的所有者。
合伙企业的所有者被称为合伙人。
现实商业活动中有许多不同类型的合伙企业。
公司是依据当地法律注册成立的单独实体；公司的所有者被称为股东。
股东不对公司的债务负责。
有限责任是公司这种组织形式的一个显著优点。
公司的所有权被分为股份。
股份可以在所有者之间转让。
1.3 编报财务报表的框架由于各个国家的法律和经济环境不同，各国有不同的会计模式。
在一个国家可行的会计实务在另一个国家并不一定可行。
由于各国的会计模式不同，所以我们需要制定一个互相协调的会计标准：用全球通用的会计语言来传达相关的且可靠的会计信息。
会计英语第四版参考答案
会计英语第四版参考答案Chapter 1: Introduction to Accounting1. What is accounting?- Accounting is the systematic recording, summarizing, and reporting of financial transactions and events of a business entity.2. What are the main functions of accounting?- The main functions of accounting are to providefinancial information for decision-making, ensure compliance with laws and regulations, and facilitate the management of a business.3. What are the two main branches of accounting?- The two main branches of accounting are financial accounting and management accounting.4. What is the purpose of financial accounting?- The purpose of financial accounting is to provide an accurate and fair representation of an entity's financial position and performance to external users.5. What is the double-entry bookkeeping system?- The double-entry bookkeeping system is a method of recording financial transactions in which every transactionis recorded twice, once as a debit and once as a credit, to maintain the equality of the accounting equation.Chapter 2: Accounting Concepts and Principles1. What are the fundamental accounting concepts?- The fundamental accounting concepts include the accrual basis of accounting, going concern, consistency, and materiality.2. What is the accrual basis of accounting?- The accrual basis of accounting records transactions when they occur, regardless of when cash is received or paid.3. What is the going concern assumption?- The going concern assumption is the premise that a business will continue to operate for the foreseeable future.4. What is the principle of consistency?- The principle of consistency requires that an entity should apply accounting policies consistently over time.5. What is the principle of materiality?- The principle of materiality states that only items that could potentially affect the decisions of users of financial statements are included in the financial statements.Chapter 3: The Accounting Equation and Financial Statements1. What is the accounting equation?- The accounting equation is Assets = Liabilities +Owner's Equity.2. What are the four main financial statements?- The four main financial statements are the balance sheet, income statement, statement of changes in equity, and cashflow statement.3. What is the purpose of the balance sheet?- The balance sheet provides a snapshot of an entity's financial position at a specific point in time.4. What is the purpose of the income statement?- The income statement reports the revenues, expenses, and net income of an entity over a period of time.5. What is the purpose of the cash flow statement?- The cash flow statement reports the cash inflows and outflows of an entity over a period of time.Chapter 4: Recording Transactions1. What is a journal entry?- A journal entry is the initial recording of atransaction in the general journal.2. What are the steps in the accounting cycle?- The steps in the accounting cycle are analyzing transactions, journalizing, posting, preparing a trial balance, adjusting entries, preparing financial statements, and closing entries.3. What is the difference between a debit and a credit?- A debit is an increase in assets or a decrease inliabilities or equity, while a credit is an increase in liabilities or equity or a decrease in assets.4. What are adjusting entries?- Adjusting entries are made at the end of an accounting period to ensure that revenues and expenses are recorded in the correct period.5. What is the purpose of closing entries?- Closing entries are made to transfer the balances of temporary accounts to the owner's equity account and to prepare the accounts for the next accounting period.Chapter 5: Accounting for Merchandising Businesses1. What is a merchandise inventory?- A merchandise inventory is the stock of goods held by a business for sale to customers.2. What is the cost of goods sold?- The cost of goods sold is the direct cost of producing the merchandise sold during an accounting period.3. What is the gross profit?- The gross profit is the difference between the sales revenue and the cost of goods sold.4. What is the difference between a perpetual and a periodic inventory system?- A perpetual inventory system updates inventory records in real-time with each sale or purchase, while a periodicinventory system updates inventory records at specific intervals, such as at the end of an accounting period.5. What is the retail method of inventory pricing?- The retail method of inventory pricing is a method of estimating the cost of ending inventory by applying a cost-to-retail ratio to the retail value of the inventory.Chapter 6: Accounting for Service Businesses1. What are the main differences in accounting for service businesses compared to merchandise businesses?- Service businesses do not have inventory and their primary expenses are typically labor and overhead costs.2. What is the main source of revenue for service businesses? - The main source of revenue for service businesses is the fees charged for the services provided.3. What are the typical expenses。
叶建芳会计英语中文版1-5备课讲稿
第一章1.2.3.4.5.6.1.11.21.31.4◇1.5第二章1．2．3．4．5．2.2◇◇2.3a.◇2.43.23.3a.b.c.d.3.4第四章商品流通企业会计学习目标：1．了解服务企业和商业企业2．了解采购，销售收入和销售成本3．编制多步式利润表4．了解商品流通企业的结账分录和工作底稿5．编制特种日记账6．运用信息——酸性试验比率，毛利比率这一课将讨论商品存货的采购和销售，并解释如何完成商品流通企业的会计循环。
本章首先介绍经营周期、销售收入、销售成本、毛利、定期盘存制及永续盘存制。
本章将重点介绍永续盘存制。
本章还将介绍如何基于购货发票编制日记账，并阐释购货退回，购货折让，购货折扣和运输成本。
4.1 服务企业和商品流通企业◇服务企业服务企业通常基于服务收取佣金或服务费。
用赚取的佣金或服务费扣除营业费用后得到净收入。
服务企业的例子有：会计师事务所，律师事务所，自助洗衣店，出租车公司。
◇商品流通企业商品流通企业的主要活动是通过购买并出售商品存货获取利润。
批发商和零售商是商品流通企业的代表。
服务企业和商品流通企业都力图销售。
不同的是对于商品流通企业来说，要销售必须要首先购买商品存货。
商品流通企业除了存在服务企业所涉及的会计问题，还会因商品存货的购买和销售而存在其他会计问题。
销售商品带来的收益叫销售收入，为出售而购买和准备商品存货的费用叫做销售成本。
在商品流通活动中使用的两个常见的等式是：净销售收入－销售成本=毛利毛利－经营费用=净利润（或净损失）商品存货是商品流通企业在正常商业过程中为出售而持有的货物。
◇定期盘存制和永续盘存制定期盘存制只在存货（通常年末）盘点时提供存货和销售成本数据。
永续盘存制持续地，不断更新存货和销售成本数据。
因此，定期盘存制和永续盘存制的区别在于如何记录商品存货的采购和销售。
比如定期盘存制使用一个暂时账户---采购账户记录购买商品的成本。
在定期盘存制下，企业根据对存货的盘点确定销售成本和和期末存货成本，进而编制财务报表。
会计英语课后习题答案作者叶建芳会计英语课后习题参考答案
Suggested SolutionChapter 11.3.4.5.(a)(b) net income = 9,260-7,470=1,790(c) net income = 1,790+2,500=4,290Chapter 21.a.To increase Notes Payable -CRb.To decrease Accounts Receivable-CRc.To increase Owner, Capital -CRd.To decrease Unearned Fees -DRe.To decrease Prepaid Insurance -CRf.To decrease Cash - CRg.To increase Utilities Expense -DRh.To increase Fees Earned -CRi.To increase Store Equipment -DRj.To increase Owner, Withdrawal -DR2.a.Cash 1,800Accounts payable ................................................. 1,800 b.Revenue ................................................................. 4,500Accounts receivable ..................................... 4,500c.Owner’s withdrawals............................................... 1,500Salaries Expense ........................................... 1,500 d.Accounts Receivable (750)Revenue (750)3.Prepare adjusting journal entries at December 31, the end of the year.Advertising expense 600Prepaid advertising 600Insurance expense (2160/12*2) 360Prepaid insurance 360Unearned revenue 2,100Service revenue 2,100Consultant expense 900Prepaid consultant 900Unearned revenue 3,000Service revenue 3,000 4.1. $388,4002. $22,5203. $366,6004. $21,8005.1. net loss for the year ended June 30, 2002: $60,0002. DR Jon Nissen, Capital 60,000CR income summary 60,0003. post-closing balance in Jon Nissen, Capital at June 30, 2002: $54,000Chapter 31. Dundee Realty bank reconciliationOctober 31, 2009Reconciled balance $6,220 Reconciled balance $6,2202. April 7 Dr: Notes receivable—A company 5400Cr: Accounts receivable—A company 540012 Dr: Cash 5394.5Interest expense 5.5Cr: Notes receivable 5400June 6 Dr: Accounts receivable—A company 5533Cr: Cash 553318 Dr: Cash 5560.7Cr: Accounts receivable—A company 5533Interest revenue 27.73. (a) As a whole: the ending inventory=685(b) applied separately to each product: the ending inventory=6254. The cost of goods available for sale=ending inventory + the cost of goods=80,000+200,000*500%=80,000+1,000,000=1,080,0005.(1) 24,000+60,000-90,000*0.8=12000(2) (60,000+24,000)/( 85,000+31,000)*( 85,000+31,000-90,000)=18828Chapter 41. (a) second-year depreciation = (114,000 – 5,700) / 5 = 21,660;(b) second-year depreciation = 8,600 * (114,000 – 5,700) / 36,100 = 25,800;(c) first-year depreciation = 114,000 * 40% = 45,600second-year depreciation = (114,000 – 45,600) * 40% = 27,360;(d) second-year depreciation = (114,000 – 5,700) * 4/15 = 28,880.2. (a) weighted-average accumulated expenditures (2008) = 75,000 * 12/12 + 84,000 * 9/12 + 180,000 * 8/12 + 300,000 * 7/12 + 100,000 * 6/12 = 483,000(b) interest capitalized during 2008 = 60,000 * 12% + ( 483,000 –60,000) * 10% =49,5003. (1) depreciation expense = 30,000(2) book value = 600,000 – 30,000 * 2=540,000(3) depreciation expense = ( 600,000 – 30,000 * 8)/16 =22,500(4) book value = 600,000 – 30,000 * 8 – 22,500 = 337,5004. Situation 1:Jan 1st, 2008 Investment in M 260,000Cash 260,000June 30 Cash 6000Dividend revenue 6000Situation 2:January 1, 2008 Investment in S 81,000Cash 81,000June 15 Cash 10,800Investment in S 10,800December 31 Investment in S 25,500Investment Revenue 25,5005. a. December 31, 2008 Investment in K 1,200,000Cash 1,200,000June 30, 2009 Dividend Receivable 42,500Dividend Revenue 42,500December 31, 2009 Cash 42,500Dividend Receivable 42,500b. December 31, 2008 Investment in K 1,200,000Cash 1,200,000 December 31, 2009 Cash 42,500Investment in K 42,500Investment in K 146,000Investment revenue 146,000 c. In a, the investment amount is 1,200,000net income reposed is 42,500In b, the investment amount is 1,303,500Net income reposed is 146,000Chapter 51.a. June 1: Dr: Inventory 198,000Cr: Accounts Payable 198,000 June 11: Dr: Accounts Payable 198,000Cr: Notes Payable 198,000 June 12: Dr: Cash 300,000Cr: Notes Payable 300,000b. Dr: Interest Expenses (for notes on June 11) 12,100Cr: Interest Payable 12,100Dr: Interest Expenses (for notes on June 12) 8,175Cr: Interest Payable 8,175c. Balance sheet presentation:Notes Payable 498,000 Accrued Interest on Notes Payable 20,275d. For Green:Dr: Notes Payable 198,000 Interest Payable 12,100Interest Expense 7,700Cr: Cash 217,800For Western:Dr: Notes Payable 300,000Interest Payable 8,175Interest Expense 18,825Cr: Cash 327,0002.(1) 20⨯8 Deferred income tax is a liability 2,400Income tax payable 21,600 20⨯9 Deferred income tax is an asset 600Income tax payable 26,100(2) 20⨯8: Dr: Tax expense 24,000Cr: Income tax payable 21,600 Deferred income tax 2,400 20⨯9: Dr: Tax expense 25,500Deferred income tax 600Cr: Income tax payable 26,100 (3) 20⨯8: Income statement: tax expense 24,000Balance sheet: income tax payable 21,600 20⨯9: Income statement: tax expense 25,500 Balance sheet: income tax payable 26,1003.a. 1,560,000 (20000000*12 %* (1-35%))b. 7.8% (20000000*12 %* (1-35%)/20000000)5.Notes Payable 14,400 Interest Payable 1,296 Accounts Payable 60,000 +Unearned Rent Revenue 7,200 Current Liabilities 82,896Chapter 61. Mar. 1Cash 1,200,000Common Stock 1,000,000Paid-in Capital in Excess of Par Value 200,000Mar. 15Organization Expense 50,000Common Stock 50,000Mar. 23Patent 120,000Common Stock 100,000Paid-in Capital in Excess of Par Value 20,000The value of the patent is not easily determinable, so use the issue price of $12 per share on March 1 which is the issuing price of common stock.2. July.1Treasury Stock 180,000Cash 180,000The cost of treasury purchased is 180,000/30,000=60 per share.Nov. 1Cash 70,000Treasury Stock 60,000Paid-in Capital from Treasury Stock 10,000Sell the treasury at the cost of $60 per share, and selling price is $70 per share. The treasury stock is sold above the cost.Dec. 20Cash 75,000Paid-in Capital from Treasury Stock 15,000Treasury Stock 90,000The cost of treasury is $60 per share while the selling price is $50 which is lower than the cost.3. a. July 1Retained Earnings 24,000Dividends Payable—Preferred Stock 24,000b.Sept.1Dividends Payable—Preferred Stock 24,000Cash 24,000c. Dec.1Retained Earnings 80,000Dividends Payable—Common Stock 80,000d. Dec.31Income Summary 350,000Retained Earnings 350,0004.a. Preferred stock gives its owner certain advantages over common stockholders. These benefits include the right to receive dividends before the common stockholders and the right to receive assets before the common stockholders if the corporation liquidates. Corporation pay a fixed amount of dividends on preferred stock.The 7% cumulative term indicates that the investors earn 7% fixed dividends.b. 7%*120%*20,000=504,000c. If corporation issued debt, it has obligation to repay principald. The date of declaration decrease the stockholders’ equity; the date of record and the date of payment have no effect on stockholders.5.a. Jan. 15Retained Earnings 35,000Accumulated Depreciation 35,000To correct error in prior year’s depreciation.b. Mar. 20Loss from Earthquake 70,000Building 70,000c. Mar. 31Retained Earnings 12,500Dividends Payable 12,500d. Apirl.15Dividends Payable 12,500Cash 12,500e. June 30Retained Earnings 37,500Common Stock 25,000Additional Paid-in Capital 12,500To record issuance of 10% stock dividend: 10%*25,000=2,500 shares;2500*$15=$37,500f. Dec. 31Depreciation Expense 14,000Accumulated Depreciation 14,000Original depreciation: $40,000/40=$10,000 per year. Book value on Jan.1, 2009 is $350,000(=$400,000-5*$10,000). Deprecation for 2009 is $14,000(=$350,000/25).g. The company does not need to make entry in the accounting records. But the amount of Common Stock ($10 par value) decreases 275,000, while the amount of Common Stock ($5 par value) increases 275,000.Chapter 71.Requirement 1If revenue is recognized at the date of delivery, the following journal entries would be used to record the transactions for the two years:Year 1Inventory .................................................................................... 480,000 Cash/Accounts payable ........................................................ 480,000 To record purchase of inventoryInventory .................................................................................... 124,000 Cash/Accounts payable ........................................................ 124,000 To record refurbishment of inventoryAccounts receivable ................................................................... 310,000 Sales revenue ...................................................................... 310,000 To record sale of goods on accountCost of goods sold...................................................................... 220,000 Inventory .............................................................................. 220,000 To record the cost of the goods sold as an expenseSales returns (I/S) ...................................................................... 15,500* Allowance for sales returns (B/S).......................................... 15,500 To record provision for return of goods sold under 30-day return period* 5% of $310,000Warranty expense ...................................................................... 31,000* Provision for warranties (B/S) ............................................... 31,000 To record provision, at time of sale, for warranty expenditures* 10% of $310,000Allowance for sales returns......................................................... 12,400 Accounts receivable ............................................................. 12,400 To record return of goods within 30-day return period.It is assumed the returned goods have no value and are disposed of.Provision for warranties (B/S) ..................................................... 18,600 Cash/Accounts payable ........................................................ 18,600 To record expenditures in year 1 for warranty workCash .......................................................................................... 297,600*Accounts receivable ............................................................. 297,600 To record collection of Accounts Receivable* $310,000 – $12,400Year 2Provision for warranties (B/S) ..................................................... 8,400 Cash/Accounts payable ........................................................ 8,400 To record expenditures in year 2 for warranty workRequirement 2If revenue is recognized only when the warranty period has expired, the following journal entries would be used to record the transactions for the two years:Year 1Inventory .................................................................................... 480,000 Cash/Accounts payable ........................................................ 480,000 To record purchase of inventoryInventory .................................................................................... 124,000 Cash/Accounts payable ........................................................ 124,000 To record refurbishment of inventoryAccounts receivable ................................................................... 310,000 Inventory .............................................................................. 220,000 Deferred gross margin .......................................................... 90,000 To record sale of goods on accountDeferred gross margin ................................................................ 12,400 Accounts receivable ............................................................. 12,400 To record return of goods within the 30-day return period. It is assumed the goods haveno value and are disposed of.Deferred warranty costs (B/S)..................................................... 18,600 Cash/Accounts payable ........................................................ 18,600 To record expenditures for warranty work in year 1. The warranty costs incurred are deferred because the related revenue has not yet been recognizedCash .......................................................................................... 297,600* Accounts receivable ............................................................. 297,600 To record collection of Accounts receivable* $310,000 – $12,400Year 2Deferred warranty costs ............................................................. 8,400 Cash/Accounts payable ........................................................ 8,400 To record warranty costs incurred in year 2 related to year 1 sales. The warranty costs incurred are deferred because the related revenue has not yet been recognized.Deferred gross margin ................................................................ **77,600Cost of goods sold...................................................................... 220,000 Sales revenue ...................................................................... 297,600* To record recognition of sales revenue from year 1 sales and related cost of goods sold at expiry of warranty period* $310,000 – $12,400** ($90,000 – $12,400)Warranty expense ...................................................................... 27,000* Deferred warranty costs ....................................................... 27,000 To record recognition of warranty expense at same time as related sales revenue recognition* $18,600 + $8,400Requirement 3Allied Auto Parts Inc. might choose to recognize revenue only after the warranty periodhas expired if they are not able to make a good estimate, at the time of sale, of the amount of warranty work that will be required under the terms of the one-year warranty. If Allied is not able, at the time of sale, to make a good estimate of the warranty work that will be required, then the measurability criterion of revenue recognition is not met at the time of sale. The measurability criterion means that the amount of revenue can be reliably measured. If the seller is not able to estimate the amount of work that will have to be done under the warranty agreement, then it is not able to reasonably measure the profit that it will eventually earn on the sales. The performance criteria might also be invoked here.The performance criterion means that the seller has transferred the significant risks and rewards of ownership to the buyer. As long as there is warranty work to be performed after the sale that is the responsibility of the seller, you might argue that performance is not substantially complete. However, if the seller was able to reliably estimate the amount of warranty work, then performance would be satisfied on the assumption that we could measure the risk that remains with the seller, and make a provision for it.2.Percentage-of-completion method:The first step in applying revenue recognition using the percentage-of-completion method (using costs incurred to date compared to estimated total costs to determine the percentage of completion) is to estimate the percentage of completion of the project at the end of each year. This is done in the following table (in $000s):End of 2005 End of 2006 End of 2007Total costs incurred $ 5,400 $ 12,950 $ 18,800 Total estimated costs 18,000 18,500 18,800 % completed 30% 70% 100%Once the percentage of completion at the end of each year has been calculated as above, the next step is to allocate the appropriate amount of revenue to each year, based on the percentage completed to date, less what has previously been recorded in revenue. This is done in the following table (in $000s):2005 2006 20072005 $20,000 × 30% $ 6,0002006 $20,000 × 70% $ 14,0002007 $20,000 × 100% $ 20,000 Less: Revenue recognized in prior years (0) (6,000) (14,000) Revenue for year $ 6,000 $ 8,000 $ 6,000Therefore, the profit to be recognized each year on the construction project would be:2005 2006 2007 TotalRevenue recognized $ 6,000 $ 8,000 $ 6,000 $ 20,000 Construction costs incurred (expenses) (5,400) (7,550) (5,850) (18,800) Gross profit for the year $ 600 $ 450 $ 150 $ 1,200The following journal entries are used to record the transactions under thepercentage-of-completion method of revenue recognition:2005 2006 20071. Costs of construction:Construction in progress................. 5,400 7,550 5,850 Cash, payables, etc. ..... 5,400 7,550 5,850 2. Progress billings:Accounts receivable ........... 3,100 4,900 12,000 Progress billings ........... 3,100 4,900 12,000 3. Collections on billings:Cash .................................. 2,400 4,000 12,400 Accounts receivable ..... 2,400 4,000 12,400 4. Recognition of profit:Construction in progress..... 600 450 150Construction expense ......... 5,400 7,550 5,850 Revenue from long-termcontract..................... 6,000 8,000 6,000 5. To close construction in progress:Progress billings ................. 20,000 Construction in progress 20,0002005 2006 2007Balance sheetCurrent assets:Accounts receivable $ 700 $ 1,600 $ 1,200 Inventory:Construction in process 6,000 14,000 Less: Progress billings (3,100) (8,000)Costs in excess of billings 2,900 6,000Income statementRevenue from long-term contracts $ 6,000 $ 8,000 $ 6,000 Construction expense (5,400) (7,550) (5,850) Gross profit $ 600 $ 450 $ 1503.a. The three criteria of revenue recognition are performance, measurability, andcollectibility.Performance means that the seller or service provider has performed the work.Depending on the nature of the product or service, performance may mean quitedifferent points of revenue recognition. For example, for the sale of products, IAS18 defines performance as the point when the seller of the goods has transferred therisks and rewards of ownership to the buyer. Normally, this means that performance is done at the time of sale. Although the seller may have performed much of the work prior to the sale (production, selling efforts, etc.), there is still significant risk to theseller that a buyer may not be found. Therefore, from a reliability point of view,revenue recognition is delayed until the point of sale. Also, there may be significant risks remaining with the seller of the product even after the sale. Warranties given by the seller are a risk that remains with the seller. However, if this risk can be reliably estimated at the time of sale, revenue can be recognized at the point of sale.Performance is quite different under a long-term construction contract. Here,performance really is considered to be a measure of the work done. Revenue isrecognized over the production period as the work is performed. It is intended toreflect the amount of effort expended by the seller (contractor). Although legal titlewon’t transfer to the buyer until the project is completed, revenue can be recognized because there is a known and committed buyer. If the contractor is not able toestimate how much of the work has been done (perhaps because he or she can’treliably estimate how much work must still be done), then profit would not berecognized until the extent of performance is known.Measurability means that the seller or service provider must be able to reliablyestimate the amount of the revenue from the sale or service. For the sale of products this is generally known at the time of sale (the sales price is set). However, if the seller provides a return period, it may be necessary to estimate the volume of returns at the time of sale in order to measure the revenue that will be recognized.Collectibility means that the seller or the service provider has reasonable assurance that the sales price will actually be collected. In most cases for the sales of products, the seller is able to recognize revenue at the time of sale even if the sale is on account.This is because the seller has experience with its customers and is able to estimate reliably the risk of non payment. As long as the seller is able to make this estimate, it is appropriate to recognize the revenue but to offset it with a provision for possible non collection. If the seller is unable to make reliable estimates of future collection ofamounts owing, the recognition of revenue would be delayed until the cash is actually received. This is what is done using the instalment sales method of revenuerecognition.b. Because of the performance criterion of revenue recognition, it would seem to bemost appropriate to recognize most revenue as the seller or service provider per forms the work. This would be the best measure of performance. This would mean, for example,that sellers of products would recognize their revenue over the whole production, selling, and post sales servicing periods. As we saw above, this is not commonly done because,in many cases, there are still significant risks that are retained by the seller (risk of not being able to sell the product, for example). There are also measurement risks (knowingthe selling price) that exist prior to the sale. The percentage-of-completion method of revenue used for some long-term construction contracts would seem to most closely recognize revenue as the work is performed. As mentioned in Part 1, we are able to recognize revenue on this basis since a contract exists which commits the purchaser tobuy the project (assuming certain conditions are met) and the sales price is known because of the existence of the contract.4.If all revenue is recognized when a student registers for the course, profit for 2007 would be:Sales Revenue1:Manuals and initial lessons (200 × $100) $ 20,000 Additional lessons ((200 × 8) × $30) 48,000 Examinations ((200 × 80%) × $130) 20,800 Total sales revenue 88,800Cost of sales:Manuals and initial lessons (200 × ($15 + $3)) 3,600 Additional lessons ((200 × 8) × $3)) 4,800Examinations ((200 × 80%) × $30) 4,800 Total cost of sales 13,200Depreciation of development costs:$180,000 × (200/1,000) 36,000Profit $ 39,6005.FINISH ENTERPRISESIncome Statementfor the year ending December 31, 2005Continuing operations (excluding the chemical division)Sales ($35,000,000 – $5,500,000) $ 29,500,000Cost of sales ($15,000,000 – $2,800,000) (12,200,000)Gross profit 17,300,000Selling & administration expenses($18,000,000 – $3,200,000) (14,800,000)Profit from operations 2,500,000Income tax expense (40%) 1,000,000Profit after tax $ 1,500,000Discontinuing operations (Chemical division)Sales 5,500,000Cost of sales (2,800,000)Gross profit 2,700,000Selling & administration expenses (3,200,000)Loss from operations (500,000)Income tax expense(40%) 200,000Loss after tax (300,000) Gain on discontinuance of the Chemical division 3,500,000Tax thereon (1,400,000)After-tax gain on discontinuance of the Chemical division 2,100,000 Enterprise net profit $ 3,300,000Chapter 81.Payment of account payable. operatingIssuance of preferred stock for cash. financingPayment of cash dividend. financingSale of long-term investment. investingAmortization of bond discount. no effectCollection of account receivable. operatingIssuance of long-term note payable to borrow cash. financing Depreciation of equipment. no effectPurchase of treasury stock. financingIssuance of common stock for cash. financingPurchase of long-term investment. investingPayment of wages to employees. operatingCollection of cash interest. investingCash sale of land. InvestingDistribution of stock dividend. no effectAcquisition of equipment by issuance of note payable. no effect Payment of long-term debt. financingAcquisition of building by issuance of common stock. no effect Accrual of salary expense. no effect2.(a) Cash received from customers = 816,000(b) Cash payments for purchases of merchandise. =468,000(c) Cash payments for operating expenses. = 268,200(d) Income taxes paid. =36,9003.Cash sales …………………………………………... $9,000 Payment of accounts payable ……………………….-48,000 Payment of income tax ………………………………-13,000 Payment of interest ……………………………..…..-16,000 Collection of accounts receivable ……………………93,000 Payment of salaries and wages ……………………….. -34,000 Cash flows from operating activitiesby the direct method -9,0004.Operating activities:Net loss -200,000 Add: loss on sale of land 250,000 Add: depreciation 300,000Add: amortization of patents 20,000Less: increases in current assets other than cash -750,000Add: increases in current liabilities 180,000Net cash flows from operating -200,000Investing activitiesSale of land -50,000Purchase of PPE -1,500,000Net cash flows from investing -1,550,000Financing activitiesIssuance of common shares 400,000Payment of cash dividend -50,000Issuance of non-current liabilities 1,000,000Net cash flows from financing 1,350,000 Net changes in cash -400,000 5.。
叶建芳会计英语中文版1-5(精编文档).doc
【最新整理，下载后即可编辑】第一章会计总论学习目标：1.了解会计信息系统2.应用公认会计准则3.了解财务报表4.运用会计要素5.运用会计等式6.了解会计及其环境本章讨论不同的使用者对会计信息的需求，介绍不同实体对会计职业的影响、会计职业道德及职业行为准则。
本章也将对公认会计准则以及一些相关概念和原则进行解释。
本章将介绍会计等式：资产＝负债＋所有者权益，并逐一定义会计等式中的每个要素，举例分析不同业务对会计等式的影响。
同时，本章还将简单介绍财务报表。
1.1会计是一个信息系统我们通常把会计描述为一个信息系统。
作为一个信息系统，会计计量经济活动，将信息编制成财务报表，并将财务报表传达给决策者。
会计的范围包括：确认经济事项，进行计量、记录、汇总，并把信息报告给使用者。
会计所涵盖的范围要大于簿记。
图表1－1是信息在会计系统内的流转图。
簿记是对交易和事件的记录，只是会计的一部分。
会计还包括对会计信息的分析和阐述，以帮助财务报表的外部和内部的使用者制定各项经济决策。
图表1-1 会计信息流转会计信息使用者主要是投资者和债权人，政府，工会，普通公众也会使用会计信息。
1.2组织形式企业有三种组织形式：个人独资企业是指由一个自然人投资拥有的企业组织。
个人独资企业是一个会计实体，但并不是法律实体个人独资企业的所有者对企业的债务承担无限责任，这也是个人独资企业的一个主要缺点。
合伙企业与个人独资企业的区别只在于它有两个或两个以上的所有者。
合伙企业的所有者被称为合伙人。
现实商业活动中有许多不同类型的合伙企业。
公司是依据当地法律注册成立的单独实体；公司的所有者被称为股东。
股东不对公司的债务负责。
有限责任是公司这种组织形式的一个显著优点。
公司的所有权被分为股份。
股份可以在所有者之间转让。
1.3编报财务报表的框架由于各个国家的法律和经济环境不同，各国有不同的会计模式。
在一个国家可行的会计实务在另一个国家并不一定可行。
由于各国的会计模式不同，所以我们需要制定一个互相协调的会计标准：用全球通用的会计语言来传达相关的且可靠的会计信息。
会计英语第四版叶建芳
Interpretation of the Income Statement
要点一
Revenue
Revenue reports the total amount of income generated by a company through its normal business operations This can include sales of products or services, interest income, and other sources of income
Accounting Definition and Function
Preparing financial statements
Recording business transactions
Functions of Accounting
01
03 02
Accounting Definition and Function
Owner's Equity
Owner's equity reports the residual interest in the assets of the company after conducting its liabilities It reflects the amount of capital contributed by the owners and the retained earnings over time
Cash Flow from Operating AThcistsievctiiotnieofsthe cash flow
statement shows how much cash is generated from a company's normal business operations It includes cash received from customers and cash paid to suppliers, employees, and for other operating expenses
会计英语 第四版 叶建芳01
Total
$
8,000 Total
$
8,000
The Effects of Business Transactions
On May 8, 2001, JJ’s purchased a $15,000 truck.
JJ’s paid $2 000 down in cash and issued a note payable for the remaining $13 000.
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An example!
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Let’s analyze some transactions for JJ’s Lawn Care Service.
The Effects of Business Transactions
JJ's Lawn Care Service Balance Sheet May 1, 2001 Assets Owner's Equity $ 8,000 Jill Jones, capital $ 8,000
Cash
Total
$
8,000 Total
$
8,000
The Effects of Business Transactions
The Effects of Business Transactions
JJ's Lawn Care Service Balance Sheet May 8, 2001 Assets Liabilities & Owner's Equity Cash $ 3,500 Notes payable $ 13,000 Tools & equipment 2,500 Owner's Equity Truck 15,000 Jill Jones, capital 8,000
会计英语(第4版)教学大纲和期末复习题目
Syllabus and review for final examIntroduction:This is an introductory course in financial accounting intended for students with no previous exposure to financial accounting. It aims at providing the necessary tools for students to read, understand, analyze and extract information from financial statements. The course adopts a user approach of accounting by emphasizing the relation between accounting data and the underlying economic events that generated them, and how this knowledge is helpful in decision-making.The course focuses initially on how to record economic events in the accounting records and how to prepare and interpret the primary financial statements (i.e., the balance sheet,the income statement, and the statement of cash flows).Main Course Objective:Provide tools to read, understand, and analyze financial statements.Question 1 costing method for inventory Stylish Jeans Company markets blue jeans and uses a perpetual inventory system to account for its merchandise. The beginning balance of the inventory and transactions during the year were as follows:January 1: Balance: 350 units at €52 eachMarch 12: Purchased 175 units at €61 each.May 21: Sold 260 units for a selling price of €112 each.July 8: Purchased 300 units at €73.October 31: Sold 320 units for a selling price of €112 each.Required1. Calculate cost of goods available for sale and units available for sale for the year.2. Calculate units remaining in ending inventory.3. Calculate the currency value of cost of goods sold and ending inventory usinga) FIFOb) Weighted averageRound to two decimal places.1.Beg. 350 units @ €52= €18,200Mar. 12 175 units @ 61 = 10,675July 8 300 units @ 73 = 21,900UnitsAvailable 825 units €50,775Cost of goods available for sale2. Units in ending inventory:Units available 825Less: Units sold 580Ending Inventory 2453.(b) Weighted-average perpetualQuestion 2 accounting for bad debtsBeleVu Supplies showed the following selected adjusted balances at itsDecember 31, 2011 year end:During the year 2012, the following selected transactions occurred:1. Sales totalled €2,960,000, of which 25% were cash sales (cost of sales€1,804,000).2. Sales returns were €114,000, half regarding credit sales. The returnedmerchandise was scrapped.3. An account for €24,000 was recovered.4. Several accounts were written off; €39,000.5. Collections from credit customers totalled €1,880,000 (excluding the recovery in(3) above).Requireda. Prepare the December 31, 2012 adjusting entry to estimate bad debts, assuming that uncollectible accounts are estimated to be 1% of net credit sales.b. Show how accounts receivable will appear on the December 31, 2012 statement offinancial position.c. What will bad debts expense be on the statement of comprehensive income for theyear ended December 31, 2012?d. Prepare the December 31, 2012 adjusting entry to estimate bad debts, assumingthat uncollectible accounts are estimated to be 3% of outstanding receivables.e. Show how accounts receivable will appear on the December 31, 2012 statement offinancial position.f. What will bad debt expense be on the statement of comprehensive income for theyear ended December 31, 2012?a. Dec. 31 Bad Debt Expense 21,630 Allowance for Doubtful Accounts 21,630 2,220,000 – 57,000 = 2,163,000 2,163,000 × 1% = 21,630b. Current assets: Accounts receivable € 742,000 Less: Allowance for doubtful accounts (23,310) € 718,690 ORCurrent assets: Accounts receivable (net of €23,310 estimated uncollectible accounts) € 718,690c.d. Dec.31 Bad Debt Expense ................................................... 20,580 Allowance for Doubtful Accounts .................... 20,580 742,000 × 3% = 22,260 – 1,680 = 20,580Calculations:× 3%€22,260e.Current assets:Accounts receivable €742,000Less: Allowance for doubtful accounts (22,260) €719,740 ORCurrent assets:Accounts receivable (net of €22,260estimated uncollectible accounts) €719,740f. €20,580Question 3 accounting for trading investmentExtel Company’s fair value through profit or loss investments as of December 31, 2011 are as follows:Cost MarketKlondike ordinary shares €11,250 €14,875Kaffner ordinary shares 56,070 55,950IDEA ordinary shares 12,400 10,800Western ordinary shares 35,400 30,220RequiredPart 1Prepare the journal entries to record the adjustments to fair value for the fair value through profit or loss investments as per the requirements of IAS 39.Part 2Illustrate how the fair value through profit or loss investments will be reported on the statement of financial position on December 31, 2011.Illustrate what effect your adjustments would have on the Statement of Comprehensive Income for the year ended December 31, 2011.Part 1Cost Market Difference Klondike ordinary shares €11,250€14,875€3,625Kaffner ordinary shares 56,070 55,950 (120)IDEA ordinary shares 12,400 10,800 (1,600) Western ordinary shares 35,400 30,220 (5,180)2011Dec. 31 FVPL investments — Klondike shares 3,625Unrealized gain on FVPL investments 3,625€14,875 –€11,250 = €3,62531 Unrealized loss on FVPL investments (120)FVPL investments — Kaffner shares (120)€55,950 –€56,070 = (€120)31 Unrealized loss on FVPL investments ...................................... 1,600FVPL investments — IDEA shares .................................... 1,600 €10,800 –€12,400 = (€1,600)31 Unrealized loss on FVPL investments ...................................... 5,180FVPL investments — Western shares ................................ 5,180 €30,220 –€35,400 = (€5,180)Part 2Statement of Financial Position:Current assets:Fair value through profit or loss investments .................................... €111,845 Total fair or market values = €14,875 + €55,950 + €10,800 + €30,220Statement of Comprehensive Income:Other Income and Expenses:Unrealized loss on fair value through profit or loss investments....... €3,275Net unrealized loss = €3,625 –€120 –€1,600 –€5,180 = (€3,275)Question 4 accounting for fixed assetsShield Corporation purchased a used machine for €282,000 on January 7, 2007. It was repaired the next day at a cost of €12,500 and installed on a new platform that cost €2,000. The company predicted that the machine would be used for six years and would then have a €16,200 residual value. Depreciation was to be charged on a straight-line basis. A full year’s depreciation was charged on December 31, 2007. On June 25, 2012 it was retired.Required1. Prepare journal entries to record the purchase of the machine, the cost of repairingit, and the installation. Assume that cash was paid.2. Prepare entries to record depreciation on the machine on December 31 of its firstyear and on September 30 in the year of its disposal. (Round calculations to the nearest whole dollar.)3. Prepare entries to record the retirement of the machine under each of thefollowing unrelated assumptions:a) It was sold for €42,000;b) It was sold for €32,000; andc) It was stolen and the insurance company paid €37,500 in ful l settlement of theloss claim.4. Explain the purpose of recording depreciation. If depreciation is not recorded, whatis the effect on the statement of comprehensive income and statement of financial position?Part 12007Jan. 7 Machine ........................................................ 282,000Cash .................................................... 282,000 To record purchase of machine.8 Machine ........................................................ 12,500Cash .................................................... 12,500 To record capital repairs on machine.8 Machine ........................................................ 2,000Cash .................................................... 2,000 To record installation of machine.Part 2Dec. 31 Depreciation Expense, Machine .................. 46,717Accumulated Depreciation, Machine ........................................................46,717To record depreciation;(296,500 – 16,200)/6 = 46,717. 2012June. 25 Depreciation Expense, Machine .................. 23,359Accumulated Depreciation, Machine ........................................................23,359To record partial year’s depreciation; 46,717 × 6/12 = 23,359.Part 3(a)25 Accumulated Depreciation, Machine 1 ......... 256,944 Cash .............................................................. 42,000Gain on Disposal 2............................... 2,444 Machine .............................................. 296,500Sold machine for €42,000.Part 3(b)25 Accumulated Depreciation, Machine ........... 256,944 Cash .............................................................. 32,000 Loss on Disposal 3 ......................................... 7,556Machine .............................................. 296,500Sold machine for €32,000.Part 3(c)25 Accumulated Depreciation, Machine256,944 Cash37,500 Loss on Disposal4 2,056Machine296,500 Received insurance settlement.Dep. for 2007, 2008, 2009, 2010, and 2011.Dep. for 2012.1 Accumulated depreciation = (46,717 × 5 years) + 23,359 = 256,9442Gain (Loss) = Cash Proceeds – Book Value= 42,000 – (296,500 – 256,944) = 2,4443 Gain (Loss) = Cash Proceeds – Book Value= 32,000 – (296,500 – 256,944) = (7,556)4 Gain (Loss) = Cash Proceeds – Book Value= 3,7500 – (296,500 – 256,944) = (2,056)Part 4Depreciation is the process of allocating the cost of property, plant, and equipment in a rational and systematic manner over the assets’ useful life. It is required by the expense recognition principle. If depreciation is not recorded, net income will be overstated on the statement of comprehensive income. On the statement of financial position, assets and equity will be overstated.Question 5 accounting for bonds payableApplet Inc. issued bonds on January 1, 2011, that pay interest semi-annually on June30 and December 31. The par value of the bonds is €80,000, the annual contract rateis 8%, and the bonds mature in 10 years.RequiredFor each of these three situations, (a) determine the issue price of the bonds, and (b) show the journal entry that would record the issuance, assuming the market interestrate at the date of issuance was1. 6%2. 8%3. 10%Part 1a.Par value 0.5537 €80,000€44,296Interest (annuity) 14.8775 3,200 47,608Total €91,904Premium € 11,904* The table values are based on a discount rate of 3% (half the annual market rate)and 20 periods/payments.b.2011Jan. 1 Cash......................................................................... 91,904Premium on Bonds Payable .............................. 11,904Bonds Payable ................................................... 80,000 Sold bonds on original issue date.Part 2a.Par value 0.4564 €80,000 €36,512 Interest (annuity) 13.5903 3,200 43,488 Total €80,000* The table values are based on a discount rate of 4% (half the annual market rate)and 20 periods/payments.b.2011Jan. 1 Cash......................................................................... 80,000Bonds Payable ................................................... 80,000 Sold bonds on original issue date.Part 3a.Par value 0.3769 €80,000€30,152Interest (annuity) 12.4622 3,200 39,879Total €70,031Discount €9,969* The table values are based on a discount rate of 5% (half the annual market rate)and 20 periods/payments.b.2011Jan. 1 Cash ......................................................................... 70,031Discount on Bonds Payable .................................. 9,969Bonds Payable ................................................... 80,000 Sold bonds on original issue date.Entry for period 6 interestDR interest expense 3585CR cash 3200CR discount 385Question 6 accounting for shareholders equityMajestic Inc. was authorized to issue 250,000 €1.00 noncumulative preference shares and an unlimited number of ordinary shares. During Majestic’s first month of operations, May 2011, the following selected transactions occurred:May 1 10,000 preference shares were issued at €15.00 for cash.May 5 9,000 of the ordinary shares were issued for a total of €9,000 cash.May 6 14,000 ordinary shares were issued in exchange for land valued at €30,000.The shares were actively trading on this date at €2.00 per share.May 26 The corpora tion’s promoters were given 14,000 ordinary shares for their services in organizing the corporation. The directors valued the services at€70,000.May 31 The Board of Directors declared and paid a total dividend of €12,000.May 31 The €120,000 credit balan ce in the Income Summary account was closed. May 31 The cash dividends declared were closed to retained earnings.Required1.Prepare the journal entries to record the above transactions.2.Prepare the shareholders’ equity section of the company’s statemen t offinancial position as of May 31, 2011.Part 2Majestic Inc.Partial Statement of Financial PositionMay 31, 2011Shareholders’ EquityContributed capital:Preferred shares, €1.00, non-cumulativeAuthorized: 250,000Issued and outstanding: 10,000 € 150,000 Ordinary sharesAuthorized: unlimitedIssued and outstanding: 37,000 107,000 Total contributed capital ............................ €257,000 Retained earnings ............................................... 108,000 Total shareholders’ equity .......................................... €365,000Question 7 the statement of cash flowHolliday Corp.’s statement of financial position and statement ofcomprehensive income are as follows:HOLLIDAY CORP.Comparative Statement of Financial Position InformationDecember 31Assets 2012 2011Cash ............................................................................ €150,850 €214,550 Accounts receivable ..................................................... 182,000 138,950 Merchandise inventory ................................................. 766,500 707,000 Prepaid expenses ........................................................ 15,050 17,500 Equipment .................................................................. 446,600 308,000 Accumulated depreciation ........................................ (96,950) (123,200) Total assets ................................................................. €1,464,050 €1,262,800Liabilities and Shareholder s’ EquityAccounts payable ......................................................... €246,750 €326,550 Short-term notes payable ............................................. 28,000 17,500 Long-term notes payable ............................................. 262,500 150,500 Ordinary shares ........................................................... 563,500 437,500 Retained earnings ........................................................ 363,300 330,750 Total liabilities and shareholders’ equity ...................... €1,464,050 €1,262,800HOLLIDAY CORP.Statement of Comprehensive Incomefor year ended December 31, 2012Sales ............................................................................ €1,389,500 Cost of goods sold ....................................................... 700,000 Gross profit .................................................................. €689,500 Operating expenses:Depreciation expense ............................................. €52,500Other expenses ...................................................... 382,200Total operating expenses ....................................... 434,700 Income from operations ............................................... €254,800 Loss on sale of equipment ........................................... 14,350 Income taxes ............................................................... 33,950Net income ................................................................... €206,500 Other information regarding Holliday Corp.:a. All sales are credit sales.b. All credits to accounts receivable in the period are receipts from customers.c. Purchases of merchandise are on credit.d. All debits to accounts payable in the period result from payments formerchandise.e. The other operating expenses are cash expenses.f. The only decrease in income taxes payable is for payment of taxes.g. The other expenses are paid in advance and are initially debited to Prepaidexpenses.Additional information regarding Holliday Corp.’s activities during 2012:h. Loss on sale of equipment is €14,350.i. Equipment costing €131,250,with accumulated depreciation of €78,750, issold for cash.j. Equipment costing €269,850is purchased by paying cash of €70,000 and signing a long-term note payable for the balance.k. Borrowed €10,500 by signing a short-term note payable.l. Paid €87,850 to reduce a long-term note payable.m. Issued 7,000 ordinary shares for cash at €18 per share.n. Declared and paid cash dividends of €173,950.HOLLIDAY CORP.Statement of Cash FlowsNote A:The company purchased equipment for €269,850 by signing a €199,850 long-term note payable and paying €70,000 in cash.Note 2 retained earnings330,750+ profit 206,500 - 173,950(n) = 363,300Name______________ Student Number___________________HOLLIDAY CORP.Statement of Cash Flows。
会计英语
Accounting English
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International financial reporting standards & GAAP
Accounting concepts and principles include:
business entity （会计主体） time period （会计分期） going-concern （持续经营） monetary unit （货币计量） objectivity principle （客观性原则） cost principle （成本原则） revenue recognition or realization principle （收入确 认原则） materiality principle（重要性原则） matching principle （匹配原则） consistency principle （一致性原则） conservatism principle （稳健性原则） full-disclosure principle （充分披露原则）
Accounting English
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2. Purchased equipment for $5,000 cash. Liabilities Assets Accounts Accounts + Receivable + Equipment = Payable +5,000 Stockholders’ Equity
Accounting English
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The balance sheet
details assets, liabilities, and equity A specific date of the business entity Two columns The definition of an asset : tangible and intangible Sources of assets The definition of liability: present obligation, outflow of economic benefits Definition of equity : residual amount. Assetsliabilities
会计英语 第四版 叶建芳01
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Forms of organization
Single or sole proprietorship
Owner is personally responsible for business debts. Partners are personally responsible for all partnership debts. A corporation is a separate legal entity. It is responsible for its own debts.
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Users of accounting information
Primary users – investors and creditors External users & Internal users
External users are users outside of the entity examples: banks, government, creditors, unions Internal users are users within the entity examples: Marketing Manager, Accounts Receivable Manager, Accounts Prmation
Actions (decisions)
Decision makers
Financial statements
The statement of comprehensive income (income statement) summarizes financial performance resulting from income (revenue and gains) less expenses (including losses). The statement of changes in equity reconciles changes in equity (increases are caused by owner investments and net income, while decreases result from owner withdrawals and net losses for sole proprietorship ). The statement of financial position (balance sheet) details assets, liabilities, and equity. The statement of cash flows shows the cash inflows and outflows from operating activities, investing activities, and financing activities.
叶建芳会计英语中文版1-5
学习目标：1．2．3．编制多步式利润表4．5．编制特种日记账6．本章购货折扣和运输成本。
◇服务企业◇商品流通企业批发商和零售商是商品还会因商品存货的购买和销售而存在其他会计问题。
销售商品带来的收益叫销售收入，为出售而购买和准备商品存货的费用叫做销售成本。
在商品流通活动中使用的两个常见的等式是：净销售收入－销售成本=毛利毛利－经营费用=净利润（或净损失）商品存货是商品流通企业在正常商业过程中为出售而持有的货物。
◇定期盘存制和永续盘存制定期盘存制只在存货（通常年末）盘点时提供存货和销售成本数据。
永续盘存制持续地，不断更新存货和销售成本数据。
因此，定期盘存制和永续盘存制的区别在于如何记录商品存货的采购和销售。
比如定期盘存制使用一个暂时账户---采购账户记录购买商品的成本。
在定期盘存制下，企业根据对存货的盘点确定销售成本和和期末存货成本，进而编制财务报表。
永续盘存制企业在每次采购和商品销售时都及时更新销售成本和商品存货记录。
以前，销售量大且商品单价较低的企业多采用定期盘存制。
随着科技发展，目前这些企业也多采用永续盘存制。
实际盘点也必须在一个永续的制度下完成来使实际手头商品数目与会计记录的余额相一致。
4.2 采购、销售收入和销售成本◇商品采购——永续盘存制在永续盘存制下，所有的商品存货的赊购都要在购买时借记入商品存货账户中，例如：商品存货 xxx应付账款 xxx注意购货净额和总购买额不同。
要计算购货净额，我们需要用总采购额减去供应商提供的购货折扣，购货退回以及对供货商提供的不满意的商品的购货折让。
◇购货退回和折让在日记账中对购货退回和折让的处理如下：应付账款 xxx 商品存货 xxx◇商业折扣商业折扣是买卖双方在确定商品销售价格的谈判中达成的对价目表中所列价格的减让。
实际价格（发票价格）是用价目表中的价格减去商业折扣后得到的。
价目表中的原价和商业折扣均不出现在购销双方的账簿上，以发票价格记录交易。
商业折扣的使用使批发商和零售商节省了频繁更改价目表的成本。
会计英语 第四版 叶建芳02
11 Ye Sun Accounting English
Either (or both) of these effects occur as net income is earned . . .
Debit and Credit Rules
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The Use of Accounts
Increases are recorded on one side of the Taccount, and decreases are recorded on the other side.
Title of Account
Left or Debit Side Right or Credit Side
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The Use of Accounts
Cash
Accounts Payable
Jill Jones, Capital
Accounts are individual records showing increases and decreases.
A = L + OE
ASSETS
Debit Credit for for Increase Decrease
LIABILITIES
Debit Credit for for Decrease Increase
EQUITIES
Debit Credit for for Decrease Increase
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On July 15, Play Clothes pays the full amount due to Kid’s Clothes.
Prepare the journal entry for Play Clothes.
credit terms are stated in the invoice.
2/10, n/30
Read as: “Two ten, net thirty”
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Credit Terms and Cash Discounts
2/10, n/30
Percentage of Discount
• Record discount when taken.
• Net of discount
• Charge discounts not taken when paid.
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Terminology
Purchase = receipt of merchandise not to placing of a purchase order.
• Tangible items that will be consumed in the course of normal operations.
• e.g., office supplies, lubricants, repair parts.
• Not sold and not accounted for as part of cost of goods sold.
• 3 types of inventories;
• Materials. • Work-in-process. • Finished goods.
会计英语 章 叶建芳and孙红星
1.1 会计是一个信息系统
我们通常把会计描述为一个信息系统。作为一个信息系统，会计计量经济活动，将信息编制成财 务报表，并将财务报表传达给决策者。会计的范围包括：确认经济，进行计量记录汇总，把信息报告 给使用者。会计所涵盖的范围要大于簿记。表 1－1 是信息在会计系统内的流转图。簿记是对交易和 事件的记录，只是会计的一部分。会计还包括对会计信息的分析和阐述外部和内部的经济决策。
筑物和机器等。无形资产包括专利权，商标权和版权等。 资产的来源有两种一种是负债，另一种是所有者权益。IASB 框架对负债的定义如下： 负债是由过去的交易或事项形成的，预期会导致经济利益流出企业的，通过转移资产或向其他企
业提供服务等实现的义务。 负债包括应付账款，应付票据，应付工资，应付税款，应付利息和应付债券。 权益（独资企业的所有者权益，合伙企业的合伙人权益，及公司的股东权益）是剩余权益。IASB
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收入： 咨询收入 租金收入 总收入
营业费用： 租金费用 工资费用 营业费用总额
净利润
Amy Schneider 会计师事务所 利润表
年 12 月 31 日
$3,800 300
$1,000 700
$4,100
1,700 $2,400
接下来，利润表中的数据编制所有者权益变动表。 Amy Schneider 会计师事务所 所有者权益变动表 年 12 月 31 日
充分披露原则 财务报表（包括报表附注）必须报告所有与企业经营成果和财务状况相关 的信息。
一致性原则
同一企业在不同的会计期间应采用同样的会计方法，以使各期的财务报表 具有可比性。
重要性原则
对报表使用者而言，如果某金额对财务报表的影响不重要，则这个金额可 以被忽略。又称为成本效益约束。
会计英语叶建芳第四版课后题
会计英语叶建芳第四版课后题以下为您提供 20 个关于会计英语的示例，包含英语释义、短语、单词、用法和双语例句：1. **Asset**- 英语释义：Something valuable that a business or person owns, such as property, equipment, or money owed to them.- 短语：Fixed asset（固定资产）；Current asset（流动资产）- 单词用法：Assets are recorded on the balance sheet.- 双语例句：The company's assets include land and buildings.（公司的资产包括土地和建筑物。
）2. **Liability**- 英语释义：A debt or obligation that a business or person owes.- 短语：Long-term liability（长期负债）；Current liability（流动负债）- 单词用法：Liabilities must be paid in the future.- 双语例句：The company has a large liability for outstanding loans.（公司有大量未偿还贷款的负债。
）3. **Revenue**- 英语释义：The income that a business receives from its normal activities, such as selling goods or services.- 短语：Operating revenue（营业收入）；Non-operating revenue （非营业收入）- 单词用法：Revenue increased significantly this year.- 双语例句：The company's revenue comes mainly from product sales.（公司的收入主要来自产品销售。
会计英语(双语)课件
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1.1 Accounting is an information system
The accounting process
Economic activities
Accounting thinks decision makers with economic activities and with the results of their decisions.
Accounting information
Actions (decisions)
Decision makers
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1.2 Forms of organization
Sole proprietorship
Owned by one person. Owner is personally responsible for business debts.
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1.4 Understanding financial statements
The statement of comprehensive income (income statement) summarizes financial performance resulting from income (revenue and gains) less expenses (including losses). The statement of changes in equity reconciles changes in equity (increases are caused by owner investments and net income, while decreases result from owner withdrawals/dividends and net losses. The statement of financial position (balance sheet) details assets, liabilities, and equity. The statement of cash flows shows the cash inflows and outflows from operating activities, investing activities, and financing activities. Users of accounting information – investors and creditors etc.
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protect assets against theft or misuse
promote operational efficiencies encourage adherence to prescribed managerial policies
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Cash not needed for business purposes should be distributed to the company’s stockholders.
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Internal control
Internal control procedures are designed to:
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The Bank Reconciliation
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What are two records of a business’s cash? Cash account in the business’s own general ledger. The bank statement which tells the actual amount of cash the business has in the bank.
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Internal Control
Operational Controls Financial Reporting Controls
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Cash defined
Liquidity refers to how readily an asset can be converted into other types of assets or can be used to buy services or satisfy obligations. Cash is a current asset that includes currency, coin, money orders received from customers, amounts held in the form of demand deposits, savings accounts, and certificates of deposit.
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Bank Statements
Shows the beginning bank balance, deposits made, checks paid, other debits and credits in the month, and the ending bank balance.
Lesson 4
Accounting for cash, temporary investments, and receivables
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Overview of Cash and Cash Management
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Controlling Petty Cash Payments
On June 15, Sahita Inc. manager decided to establish a $250 petty cash fund. What is the entry?
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Petty Cash Fund
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Petty Cash Funds
Used for minor expenditures.
Petty Cash Funds
Has one custodian. Replenished periodically.
receivable
“Excess” cash is invested temporarily. Marketable securities
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Investments are sold as cash is needed.
Coins and paper money
June 15, 200x Petty Cash 250 Cash in Bank To open the petty cash fund
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250
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Controlling Petty Cash Payments
Jose is the petty cash custodian responsible for the fund. On June 20, he purchased supplies in the amount of $70. For each disbursement, he prepares a petty cash ticket. At all times the amount of cash in the petty cash fund plus the petty cash tickets must equal $250.
Bank credit card sales
Cash is defined as any deposit banks will accept.
Travelers’ checks
Checks
Money orders
Cash Management
Accurately account for cash. Prevent theft and fraud. Assure the availability of adequate amounts of cash. Avoid unnecessarily large amounts of idle cash.
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Internal control for cash
To maintain control over cash, custody over the assets must be separated from recordkeeping for cash. Also, all cash receipts should be deposited in the bank on a daily basis, and all payments, except for minor petty cash payments, should be made by cheque.
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The Bank Reconciliation
– – – –
Items on a bank statement and not recorded by the business: bank collections bank fees interest earned on account NSF checks
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Reconciling the Bank Balance
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The Bank Account as a Control Device
– – – – –
Documents used to control a bank account include: signature card deposit ticket check bank statement bank reconciliation
Fair value (profit/loss)
Fair value (changes in reserves until disposal)
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How Much Cash Should a Business Have?
Collections from customers Accounts Cash (and cash equivalents) Cash payments
Internal control
Principles of good internal control include:
having clearly established responsibilities maintaining adequate records insuring assets and bonding employees separating recordkeeping and custody over assets dividing responsibilities for related transactions using mechanical devices where practicable regularly performing independent reviews of the internal control practices
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Controlling Petty Cash Payments
June 30, 200x Supplies 70 Delivery Expense 20 Miscellaneous Expense 60 Cash in Bank 150 To replenish the petty cash fund