会计英语.ppt

WELCOME!,Haventseenyouforsometime!,辽宁对外经贸学院外语系李海红,会计英语ACCOUNTING,UNITONEFinancialPositionandAccountingEquation,Financialposition:economicresourcesbelongingtoacompanyandtheclaims(equities)againstthoseresourcesatapointintime.Economicresources=equitiesEconomicresources=creditorsequity+ownersequityAccountingequation:assets=liabilities+ownersequity,fourtypesoftransactionsthataffectownersequity,Ownersinvestments,Ownersequity,revenues,Ownerswithdrawals,expenses,Thefullformofaccountingequation:Assets=Liabilities+OwnersEquity+Revenue-Expenses,Ownersequity,Definition:theresidualinterestintheassetsofanentitythatremainsafterdeductingitsliabilities.Ownersequity=assetsliabilitiesOwnersequity=netassets,Liabilities,Definition:probablefuturesacrificesofeconomicbenefitsarisingfrompresentobligationsofaparticularentitytotransferassetsorprovideservicestootherentitiesinthefutureasaresultofpasttransactionsorevents.Kindsofliabilities:currentliabilitiesandlong-termliabilities,Assets,Definition:probablefutureeconomicbenefitsobtainedorcontrolledbyaparticularentityasaresultofpasttransactionsorevents;economicresourcesownedbyabusinessthatareexpectedtobenefitfutureoperations.Kindsofassets:currentassets,fixedassetsandintangibleassets.,Economicresourcesarereferredtoasassetsandcreditorsequitiesarereferredtoasliabilities.,Equities:creditorsequityandownersequity,Currentassets:cash,accountsreceivable,inventories,Fixedassets:land,buildings,andequipmentIntangibleassets:patent,trademarkandbrandname,copyright,franchise,Currentliabilities:accountspayable,salariespayable,taxespayable,Long-termliabilities:bondspayable,CLASSROOMEXERCISES,Indicatebelowwhethereachaccountisanassets(A),liabilities(L),orapartofownersequity(OE).CashSalariesPayableAccountsReceivableJohnson,Capital,LandAccountsPayableSupplies,Classroomexercises:1.Identifythefollowingtransactionsbytypeofownersequitytransactionbymarkingeachaseitheranownersinvestment(I),ownerswithdrawal(W),revenue(R),expense(E)ornotanownersequitytransaction(NOE).a.Receivedcashforprovidingaservice.b.Tookassetsoutofbusinessfromapersonalaccount.C.Receivedcashfromacustomerpreviouslybilledforaservice.d.Transferredassetstothebusinessfromapersonalaccout.,e.Paidservicestationforgasoline.f.Performedaserviceandreceivedapromiseofpayment.g.Paidcashtopurchaseequipment.h.Paidcashtoemployeeforservicesperformed.,Part2ILLUSTRATIVETRANSACTIONS,Transactions1.Johnbeginshisbusinessbydepositing$50,000inabankaccountinthenameofShannonRealty.(investment)Assets=Liabilities+OwnersEquity1$50,000$50,000Bal.$50,000$50,000,2.Johnpurchasesalotfor$10,000andasmallbuildingonthelotfor$25,000withcash.(purchaseofassetswithcash)Assets=Liabilities+OwnersEquity$50,000$50,0002.+10,000(land)+25,000(building)-35,000(cash)Bal.$50,000$50,000,3.Johnbuyssomeofficesuppliesfor$500oncredit.(Purchaseofassetsbyincurringaliability)Assets=Liabilities+OwnersEquity$50,000$50,0003.+$500(supplies)+$500(accountspayable)Bal.$50,500$500$50,000,4.Johnpays$200ofthe$500owedforthesupplies.(paymentofaliabilities)Assets=Liabilities+OwnersEquity$50,500$500$50,000-$200(cash)-$200(accountspayable)Bal.$50,300$300$50,000,5.ShannonRealtysellsahouseandreceivesacommissionincashof$1,500.Assets=Liabilities+OwnersEquity$50,300$300$50,0005.+$1,500(cash)+$1,500(revenue)Bal.$51,800$300$51,500,6.Johnsellsahousecallingforacommissionof$2,000,butJohnagreestowaitforthepayment.(revenueoncredit)Assets=Liabilities+OwnersEquity$51,800$300$51,500$2,000(accountsreceivable)$2,000(revenue)Bal.53,800$300$53,500,7.AfewdayslaterShannonreceives$1,000fromtheclient.Assets=Liabilities+OwnersEquity$53,800$300$53,5007.+$1,000(cash)-$1,000(accountsreceivable)bal.$53,800$300$53,500,8.JohnShannonpays$1,000torentsomeequipmentfortheoffice.Assets=Liabilities+OwnersEquity$53,800$300$53,5008.-$1,000(cash)-$1,000(expense)bal.$52,800$300$52,500,9.Johnpays$400inwagestoapart-timehelper.(expense)Assets=Liabilities+OwnersEquity$52,800$300$52,5009.-$400(cash)-$400(expense)Bal.$52,400$300$52,100,10.Johnhasntpaidthebillofutilityexpenseof$300.Assets=Liabilities+OwnersEquity$52,400$300$52,100+$300(accountspayable)-$300(expense)Bal.$52,400$600$51,800,11.Johnwithdraws$600incashfromShannonRealtyanddepositsitinhispersonalaccount.Assets=Liabilities+OwnersEquity$52,400$600$51,80011.-$600(cash)-$600(capital)Ba.$51,800$600$51,200,Classroomexercises,CharleneRudekfinishedlawschoolinJuneandimmediatelysetupherownlawpractice.Duringthefirstmonthofoperationshecompletedthefollowingtransactions:1.Beganthelawpracticebyplacing$2,000inabankaccountestablishedforthebusiness.2.Purchasedalawlibraryfor$900cash.3.Purchasedofficesuppliesfor$400oncredit.,4.Accepted$500incashforcompletingacontract.5.Billedclients$1,950forservicesrenderedduringthemonth.6.Paid$200oftheamountowedforofficesupplies.7.Received$1,250incashfromoneclientwhohadbeenpreviouslybilledforservicesrendered.8.Paidrentexpenseforthemonthintheamountof$1,200.9.Withdrew$400fromthepracticeforpersonaluse.,Onasheetofpaper,listthenumbers1through10,withcolumnsforAssets,Liabilities,andOwnersEquity.Inthecolumns,indicatewhethereachtransactioncausedanincrease(+),adecrease(-),ornochange(NC)inassets,liabilities,andownersequity.,DuringthemonthofApril,GrissomCo.hadthefollowingtransactions:1.PaidsalariesforApril,$1,800.2.Purchasedequipmentoncredit,$3000.3.Purchasedsupplieswithcash,$100.4.Additionalinvestmentbyowner,$4,000.,5.Paidforpartofequipmentpreviouslypurchasedoncredit,$1,000.6.Receivedpaymentforservicesperformed,$600.7.Billedcustomersforservicesperformed,$1,600.8.Withdrewcash,$1,500.,9.Receivedpaymentfromcustomersbilledpreviously,$300.10.Receivedutilitybill,$70.,Part3ProfessionalEthicsandAccountingProfession,李海红,ProfessionalEthicsandtheAccountingProfession,Revisions:1.Accountingequation2.Useaccountingequationtoanalyzethetransactions.,AccountingProfession,EthicsManagementAccountingPublicAccountingGovernmentandotherNot-for-ProfitAccountingAccountingEducation,EthicsEthicsistheapplicationofacodeofconducttoeverydaylife.Itaddressesthequestionofwhetheractionsaregoodorbad,rightorwrong.Ethicsactionsaretheresultsofindividualdecisionsandyouarefacedwithmanyethicalsituationseveryday.,ManagementAccountinganaccountantwhoisemployedbyabusinessissaidtobeinmanagementaccounting.Asmallbusinessmayhaveonlyonepersondoingthiswork,thoughamedium-sizeorlargecompanymayhavehundredsofaccountantsworkingunderachiefaccountingofficercalledacontroller,treasurer,orfinancialvicepresident.,PublicAccountingthefieldofpublicaccountingoffersservicesinauditing,taxes,andmanagementconsultingtothepublicforafee.,GovernmentandOtherNot-for-ProfitAccountingAgenciesanddepartmentsatalllevelsofgovernmenthireaccountantstopreparereportsthatofficialscanresponsiblycarryouttheirduties.Not-for-Profitorganizationsarehospitals,colleges,universities,andfoundations.,AccountingEducationTrainingnewaccountantsisachallengingandrewardingcareer,andtodayinstructorsofaccountingareingreatdemand.inmanyschoolsholdingtheCPA,CMA,orCIAcertificatewillhelpandinstructortoadvanceprofessionally.,Part4Accounts,李海红,Revisions,1.Professionalethics2.Theclassificationoftheaccountingprofession,Accounts,Assets:CashNotesReceivableAccountsReceivablePrepaidExpensesLandBuildingsEquipment,Cash,Cashisthetitleoftheaccountusedtorecordincreasesanddecreasesincash.Cashconsistsofmoneyoranymediumofexchangethatabankwillacceptatfacevaluefordeposit.Cash:coins,currency,checks,postalandexpressmoneyorders,moneydepositedinabankorbanks,cashonhand.,NotesReceivable,Apromissorynoteisawrittenpromisetopayadefinitesumofmoneyatafixedfuturedate.AccountsduefromothersintheformofpromissorynotesarerecordedinanaccountcalledNotesReceivable.,AccountsReceivable,AccountsReceivableisincurredbyCreditSales,orSalesonAccount.CreditsalesincreaseAccountsReceivable.,PrepaidExpenses,PrepaidInsuranceOfficeSuppliesPrepaidRentStoreSuppliesPrepaidTaxes,Land,Landaccountisusedtorecordpurchasesofpropertytobeusedintheordinaryoperationsofthebusiness.,Buildings,PurchaseofstructurestobeusedinthebusinessarerecordedinanaccountcalledBuildings.Althoughabuildingcannotbeseparatedfromthelanditoccupies,itisimportanttomaintainseparateaccountsforthelandandthebuildings.,Equipment,OfficeEquipment:desks,chairs,officemachines,filingcabinets,andtypewriters.StoreEquipment:cashregisterscounters,showcases,shelves,andsimilaritems.MachineryandEquipment:lathes,drillpressesandotherequipment.TrucksandAutomobiles.,Part6LiabilityandOwnersEquity,李海红,Revisions,Assets:CashNotesReceivableAccountsReceivablePrepaidExpensesLandBuildingsEquipment,Liability,NotesPayableAccountsPayableOtherShort-TermLiabilitiesLong-termLiabilities,OwnersEquity,CapitalAccountWithdrawalsAccountRevenuesandExpense,NotesPayable,NotesPayableistheoppositeofNotesReceivable.Itisusedtorecordincreasesanddecreasesinpromissorynoteamountsowedtocreditorswithinthenextyearoroperatingcycle.,AccountsPayable,AccountsPayableistheoppositeofAccountsReceivable.ItcomesfromCreditPurchase.,OtherShort-TermLiability,WagesPayableTaxesPayableRentPayableInterestPayableUnearnedFeesCustomerDepositUnearnedRevenue,CapitalAccount,Whensomeoneinvestsinhisorherowncompany,theamountoftheinvestmentisrecordedinacapitalaccount.,WithdrawalAccount,Apersonwhoinvestsinabusinessusuallyexpectstoearnanincomeantouseatleastpartoftheassetsearnedfromprofitableoperationstopaypersonallivingexpenses.,RevenueandExpenseAccounts,Revenuesincreaseownersequity,andexpensesdecreaseownersequity:CommissionsEarnedAdvertisingFeesEarnedWagesExpenseSuppliesExpenseRentExpenseAdvertisingExpense,T-AccountandDouble-EntrySystem,李海红,Revisions,AssetsaccountsLiabilitiesaccountsOwnersEquityaccounts,TaccountandDouble-EntrySystem,Evolutionofthedouble-entrysystemTheT-account,辽宁对外经贸学院精品课（高职课）会计英语主讲人：李海红讲师,DebitCreditforforDecreaseIncrease,Assets=Liabilities+OwnersEquity,DebitCreditforforDecreaseIncrease,DebitCreditforforIncreaseDecrease,?,Theaccountingequation?,ThebasicrulesofT-account?,Assets=Liabilities+OwnersEquity,JOURNALSandJOURNALIZING,Journals:generaljournal;special-purposejournalJournalizing:theprocessofrecordingtransactionsinajournal.H,Examples,ThefollowingtransactionsfortheJoanMillerAdvertisingAgencyhappenedinJanuary:January1.JoanMillerinvested$10,000tostartherownadvertisingagency.January2.Rentedanoffice,payingtwomonthsrent,$800.,January5.PurchasedofficeequipmentfromMorganEquipmentfor$3,000,paying$1,500incashandagreeingtopaytherestnextmonth.January6.Purchasedoncreditartsuppliesfor$1,800andofficesuppliesfor$800fromTaylorSupplyCompany.January19.PerformedaservicebyplacingseveralmajoradvertisementforWardDepartmentStores.Thefeeof$2,800isbillednowbutwillbecollectednextmonth.S,Recordthefollowingtransactionsinthegeneraljournal.January8.Paid$480foraone-yearinsurancepolicywithcoverageeffectiveJanuary1.January9.PaidTaylorSupplyCompany$1,000oftheamountowed.January10.Performedaservicebyplacingadvertisementsforanautomobiledealerinthenewspaperandcollectedafeeof$1,400.,Homework,January12.Paidthesecretarytwoweekswages,$600.January15.Accepted$1,000asanadvancefeeforartworktobedoneforanotheragency.January25.JoanMillerwithdrew$1,400fromthebusinessforpersonallivingexpenses.,January26.Paidthesecretarytwomoreweekswages,$600.January29.Receivedandpaidtheutilitybillof$100.January30.Received(butdidnotpay)atelephonebill,$70.,GeneralJournal,111,311,2005,Jan.,1,Cash,$10,000,$10,000,JoanMiller,Capital,Investmentinbusiness,2005,Jan.,2,PrepaidRent,Cash,Paidtheofficerentinadvance,117,111,$800,$800,2005,Jan.,19,AccountsReceivable,AdvertisementFeesEarned,Revenueearned,tobecollectedlater,113,411,$4,200,$4,200,2005,Jan.,5,OfficeEquipment,Cash,AccountsPayable,Partialpaymentofofficeequipment,146,111,212,$3000,$1,500,$1,500,2005,Jan.,6,ArtSupplies,OfficeSupplies,AccountsPayable,Purchaseofsuppliesoncredit,115,116,212,$1,800,$800,$2,600,Year,Month,Day,Thenameoftheaccountsdebitedandcredited,Abriefexplanationofthetransactions,Debitamount,Creditamount,Revisions,1.Posting2.Ledgers,TheTrialBalance,Theequalityofdebitandcreditbalancesintheledgershouldbetestedperiodicallybypreparingatrialbalance.Thestepsinpreparingatrialbalancefollow:,1.Determinethebalanceofeachaccountintheledger.2.Listeachledgeraccountthathasabalance,withthedebitbalancesintheleftcolumnandthecreditbalancesintherightcolumn.Accountsarelistedintheordertheyappearintheledger.3.Addeachcolumn.4.Comparethetotalsofeachcolumn.,JoanMillerAdvertisingAgencyTrialBalanceJanuary31,2005,TheMeasurementofBusinessIncome,NetIncomeNetincomeisthenetincreaseinownersequityresultingfromtheoperationsofthecompany.Netincome,initssimplestform,ismeasuredbythedifferencebetweenrevenuesandexpenses:Netincome=revenues-expenses,Revenues:inthesimplestcase,theyequalthepriceofgoodssoldandservicesrenderedduringperiodoftime.Expenses:expensesarethecostsofthegoodsandservicesusedupinthecourseofgainingrevenues.Oftencalledthecostofdoingbusiness,expensesincludethecostsofgoodssold,thecostsofactivitiesnecessarytocarryonthebusiness.,TheAdjustment,1.Apportioningrecordedexpensesbetweentwoormoreaccountingperiods.(deferrals)PrepaidRentPrepaidInsuranceArtSuppliesandOfficeSuppliesDepreciationofPlantandEquipment,2.Apportioningrecordedrevenuesbetweentwoormoreaccountingperiods:Unearnedartfees,PrepaidRent,RentExpense400PrepaidRent400,PrepaidInsurance,InsuranceExpense40PrepaidInsurance40,ArtSuppliesandOfficeSupplies,ArtSuppliesExpense500ArtSupplies500OfficeSuppliesExpense200OfficeSupplies200,DepreciationofPlantandEquipment,DepreciationExpense,ArtEquipment70AccumulatedDepreciation,ArtEquipment70DepreciationExpense,OfficeEquipment50AccumulatedDepreciation,OfficeEquipment50,Practice,DuringthemonthofMay,GrissomAgencyhadthefollowingtransactions:1.Paidsalaries