会计学专业英语课件.ppt

AccountingEnglish,YangYaxi,WhydoyoutakethecourseofAccountingEnglish?WhatarethelearningobjectivesofAccountingEnglish?IsAccountingEnglishdifficult?,Suggestionsforstudy,Previewingthetextisveryimportant.AnEnglishChineseDictionaryofAccounting，英汉双解财会词典，外语教学与研究出版社，英P.H.Collin,AdrianJoliffe编，张炜等译，2002年9月第1版,CHAPTER1,ACCOUNTING:THEBASISFORDECISIONS,LearningObjectives,Explainthedefinitionofaccounting;Understandthebasicfunctionofaccounting;Ascertaintheusersofaccountinginformationandknowwhytheyneedtheinformation;Understandthetypesofaccountinginformation;Haveageneralideaoftheprofessionalfieldsofaccountingandtheirduties.Learntheaccountingtermsinthischapterandusetheminthetranslationtask.,Accounting会计（学）Accountant会计师BeanCounter数豆子的人Differentexpressionsabout“企业”inEnglishBusinessEnterpriseFirmCompanyCorporation,DefinitionofAccounting,Accountingisaninformationsystemdesignedtorecord,classifyandsummarizesystematicallysignificantfinancialandothereconomicinformationaboutbusinessfirms,andanalysesandinterpretsitsresults,withmonetaryunitasitsmaincriterion.,Accounting:InformationforDecisionMaking,Theprimaryobjectiveofaccountingtoprovideinformationthatisusefulformakingdecisions.,UsersofAccountingInformation,Externalusers,Internalusers,UsersofAccountingInformation,Internalusersofaccountinginformation,Question:Howtodefineinternalusersofaccountinginformation?Whoareinternalusersofaccountinginformation?Whichdecisionsmadebythemanagement？,Internalusersofaccountinginformation,Owe欠债Owetosb.欠某人的债Meet=payoff偿还Mature=beduev.到期Maturityn.到期Inventory=stock存货Expense费用Revenue收入Earnings=profits利润Plant工厂，植物，机器设备,Internalusersofaccountinginformation,Question:Whichdecisionsaretobemadebyinternalusersexceptformanagement?,Externalusersofaccountinginformation,Question:Howtodefineexternalusersofaccountinginformation?Whoareexternalusersofaccountinginformation?Couldtheaccountantprovideaccountinginformationtomeettheneedsofdiverseusers?Whoarethetwoprimaryexternalusersofaccountinginformation?,Externalusersofaccountinginformation,课后自学P7第1段Question:Whichdecisionsaretobemadebyexternalusers?,ObjectiveofExternalFinancialReporting,Whatistheobjectiveofexternalfinancialreporting?Operationperformance经营成果Financialposition财务状况Cashflow现金流Returnofinvestment投资回收Returnoninvestment投资回报课后自学P8第2和第4段练习：P13Exercises1,Typesofaccountinginformation,FinancialAccountingManagementAccountingTaxAccounting,FinancialAccounting,Financialaccountinginformationdescribesthefinancialposition(财务状况),resultofoperation(经营成果),andcashflow(现金流)ofaneconomicentity.Question:Whousethefinancialaccountinginformation?Incometaxreturns纳税申报Prepareincometaxreturns编制纳税申报General-purposeaccountinginformation通用会计信息,ManagementAccounting,Question:Whatsthepurposeofmanagementaccounting?课后自学P5第5段,TaxAccounting,Question:Whatfunctionsdoestaxaccountingencompass?Confirmto/with与相一致Minimizethetaxburden使税负最小化,ProfessionFieldsofAccounting,privateaccounting,publicaccounting,accountingforgovernmentsandnonprofitorganizations,PublicAccounting,CPA(CertifiedPublicAccountants)CPAfirm普华永道(PriceWaterhouseCoopers，PwC)安永(ErnstHaveageneralideaofthecompleteaccountingprocess;Understandtherulesofdouble-entryaccounting;Learntheaccountingtermsinthischapterandusetheminthetranslationtask.,DefinitionofaccountingcycleThesequenceofaccountingproceduresusedtorecord,classify,andsummarizeaccountinginformationinfinancialreportsatregularintervalsandtheproceduresmustberepeatedinthesameorderduringeachaccountingperiod.,Keywords,phrasesandspecialterms,Entry分录MakeanoraccountingentryClosingentry结账分录Contraentry抵销分录Adjustingentry调整分录Entryprice入账价格Entrydocument记账凭证,Keywords,phrasesandspecialterms,Journalize登记日记账Journal日记账，序时账Journalentry日记账分录Cashjournal现金日记账Post过账Ledgeraccounts分类账Account账户Anaccountisarecordbasedontheitemsofaccountingelements,representinganincreaseoradecreaseandtheresultofthoseitems.Trialbalance试算平衡表,StepsofTheaccountingcycle,1.AnalyzeTransactions,2.Journalize,3.Post,6.PrepareFinancialStatements,5.Close,4.Adjust,SourceDocuments,JournalEntry,Ledgeraccounts,TrialBalance,IncomestatementAccounts,BalanceSheetIncomeStatementetc,Understandhowdouble-entryaccountingworks,Themechanicsofdouble-entryaccountingaresuchthateverytransactionisrecordedinthedebitsideofoneormoreaccountsandinthecreditsideofoneormoreaccountswithequaldebitsandcredits.double-entrybookkeeping(orsystem)Single-entryaccountingmeansthateverytransactionisrecordedbyonlyoneentry.Itdoesnotincludethecompleteresultsofeachtransaction.single-entrybookkeeping(orsystem),TheDouble-EntryAccounting,Debit（Dr.）n.借,借方,借记Debitcard借记卡Debitbalance借方余额v.计入借方,借计Debitanaccount计入借方账Credit（Cr.）n.贷,贷方,贷记Creditcard贷记卡Credit贷方余额v.计入贷方,贷计Creditanaccount计入贷方账,HistoryofDouble-entryAccounting,Thedouble-entrysystemhasbeenusedincommerceforover500years.AlthoughLucaPacioli,afifteenth-centurymonk,isoftengivencreditforhavingdevelopedthesysteminhis1494book,SummadeArithmetica,Geometria,ProportionietProportionalita,heactuallyonlydescribedanaccountingpracticethatwasalreadybeingusedincommerceinItaly.PaciolistruecontributiontomodernaccountingliesinthefactthathisbookwaswidelyreadthroughouttheItaliantradingempire,andsotheaccountingmethodhewroteaboutwasintroducedtomanywithinarelativelyshortperiodoftime.Double-entryaccountingseemstobeapracticethatsimplyevolvedovertimeasthebestwayofkeepingtrackoffinancialactivity.Ithasretainedthisstatusthroughmajorchangesineconomicactivityandtechnology.,Double-EntryAccounting,“Double-entryaccountingisbasedonasimpleconcept:eachpartyinabusinesstransactionwillreceivesomethingandgivesomethinginreturn.Inbookkeepingterms,whatisreceivedisadebitandwhatisgivenisacredit.TheTaccountisarepresentationofascaleorbalance.”,LucaPacioliDeveloperofDouble-EntryAccounting,ScaleorBalance,ReceiveDEBIT,GiveCREDIT,Taccount,LeftSideReceiveDEBIT,RightSideGiveCREDIT,Accountingequation,Assets=Liabilities+OwnersequityAssets-Liabilities=OwnersequityNetassets=Ownersequity,RulesofDouble-EntryAccounting,1.Eachtransactionaffectsatleasttwoaccounts.Theseaccountscontainsatleastoneaccountdebitedandatleastoneaccountcredited.2.Totaldebitsmustequaltotalcredits.,T-account,T-account:asimplestformofanaccount,usedtohelpillustratetheeffectoftransaction.,Accountname,Debit(leftside),Credit(rightside),Rulesofdebits(b)liabilities;(c)equity;(d)incomeandexpenses,includinggainsandlosses;and(e)cashflows.Thisinformation,alongwithotherinformationinthenotestofinancialstatements,assistsusersinpredictingtheenterprisesfuturecashflowsandinparticularthetimingandcertaintyofthegenerationofcashandcashequivalents.,Generalpurposefinancialstatements,Generalpurposefinancialstatementsarethoseintendedtomeettheneedsofuserswhoarenotinapositiontodemandreportstailoredtomeettheirspecificinformationneeds.Generalpurposefinancialstatementsincludethosethatarepresentedseparatelyorwithinanotherpublicdocumentsuchasanannualreportoraprospectus.,Statementofchangesintheownersequity,Thestatementofchangesinownersequityshowsthechangesinownersequityduringaspecifictimeperiod,suchasamonthorayear.,StatementofCashFlows,Thestatementofcashflowreflectsthe()and()ofcashand()ofanenterpriseinacertainaccountingperiod.Thecashreferstocash,(),and()thatareavailableforpaymentatanytime.The()referstoshort-termandhighlyliquidinvestmentsthatarereadilyconvertibletoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangeinvalue.,Decidethefollowingstrueorfalse,Transfersofmoneybetweenacompanysbankaccountsandthesecashequivalentsareviewedascashreceiptsorcashpayments.Theamountshownascashandcashequivalentsinthebalancesheetmustbethesameastheamountshownonthestatementofcashflow.,Thestatementofcashflowsreportscashflowsfromthreetypesofactivities:,1.Cashflowsfrom()transactionsthataffectnetincome.2.Cashflowsfrom()transactionsthataffectnoncurrentassets.3.Cashflowsfrom()transactionsthataffectequityanddebtoftheentity.,ReportingCashFlows,IncreasesinCash,DecreasesinCash,ReportingCashFlows,Typicalcashinflows,Typicalcashoutflows,Whataresomeofthetypicalcashinflowsfromoperatingactivities?,CashFlowsfromOperatingActivities,Whataresomeofthetypicalcashoutflowsfromoperatingactivities?,Typicalcashinflows,Typicalcashoutflows,Whataresomeofthetypicalcashinflowsfromoperatingactivities?,CashFlowsfromOperatingActivities,Rentrevenue,Salesofgoodsandservices,Taxrefundsreceived,Whataresomeofthetypicalcashoutflowsfromoperatingactivities?,Merchandisepurchases,Paymentsofwagesandotherexpenses,Taxpayments,Whataresomeofthetypicalcashinflowsfrominvestingactivities?,Typicalcashinflows,Typicalcashoutflows,Whataresomeofthetypicalcashoutflowsfrominvestingactivities?,CashFlowsfromInvestingActivities,Whataresomeofthetypicalcashinflowsfrominvestingactivities?,Typicalcashinflows,Typicalcashoutflows,Returnsoninvestments,Disposaloffixedassets,intangibleassetsandotherlong-termassets,Purchaseoffixedassets,intangibleassetsandotherlong-termassets,Purchaseoflong-terminvestments,Whataresomeofthetypicalcashoutflowsfrominvestingactivities?,CashFlowsfromInvestingActivities,Returnsofinvestments,CashFlowsfromFinancingActivities,Whataresomeofthetypicalcashinflowsfromfinancingactivities?,Whataresomeofthetypicalcashoutflowsfromfinancingactivities?,Typicalcashinflows,Typicalcashoutflows,CashFlowsfromFinancingActivities,Whataresomeofthetypicalcashinflowsfromfinancingactivities?,Issuingpreferredandcommonstock,Issuingbondsandlong-termnotespayable,Payingcashdividendsandinterest,Repayingdebt,Whataresomeofthetypicalcashoutflowsfromfinancingactivities?,Acquiringtreasurystock,Typicalcashinflows,Typicalcashoutflows,NoncashInvestingandFinancingActivities,IssuingbondstoacquirelandIssuingcommonstockforconvertiblepreferredstockIssuingalong-termnotetoacquireequipmentIssuingstockdividend,case,IntheyearendingJune30,2003,MicrosoftCorporationreportedadecreaseincashinexcessof$9,446,000,000.Doesthismeanthatthecompanywasexperiencingextremefinancialstress?Notnecessarily.Thatyear,operationsprovidedover$16billionandinvestingactivitiesprovidedover$15billionofcash.Theoveralldeclinewasduetoapproximately$41billionbeingusedinfinancingactivities,primarilyforpayingcashdividendstostockholders.,Infact,thatyearthecompanydidverywell,withanetincomeofmorethan$12billion.Bycomparison,thetwofollowingyearsresultedincashincreasesof$8,920million(yearendedJune30,2004,whichresultedinnetincomeof$8,168million)and$3,079million(yearendedJune30,2005,whichresultedinnetincomeof$7,531million).QUESTION:Whatlessonsarelearnedfromthisexample?,PreparationoftheStatementofCashFlows,ThedirectmethodTheindirectmethodWhatarethesamenessanddifferenceofthetwomethods?P162Exhibit11-5,StatementofCashFlows-TheIndirectMethod,Cash,Liabilities,StockholdersEquity,BalanceSheet,NoncashAssets,Assets=Liabilities+StockholdersEquityCash+NoncashAssets=Liabilities+StockholdersEquityCash=Liabilities+StockholdersEquityNoncashAssets,Thecashflowsaredeterminedbyanalyzingliabilities,stockholdersequity,andnoncashassets.,TheIndirectMethod,Startwiththeaccrualbasisnetincome(shownintheincomestatement,theRetainedEarningsaccount,orthestatementofstockholdersequity).,Step1,TheIndirectMethod,Step2,Next,weneedtodeterminedepreciationexpensefortheyear.Ifitisntgivenontheincomestatement,sometimesitcanbefoundbyanalyzingtheAccumulatedDepreciationaccount.,TheIndirectMethod,Step3,Selectcurrentassetsandcurrentliabilitiesthatimpactcashflowanddeterminetheincreasesanddecreases.,TheIndirectMethod,Step4,Analyzetheincomestatementtodetermineifthereareanygainsorlossesfromsellinginvestments,equipment,etc.,TheIndirectMethod,Iftherehadbeenalossonthissale,thelosswouldhavebeenaddedtonetincome.,TheIndirectMethod,StatementofCashFlows-TheDirectMethod,Sales$1,180,000Costofmerchandisesold790,000Grossprofit$390,000Operatingexpenses:Depreciationexpense$7,000Otheroperatingexpenses196,000Totaloperatingexpenses203,000Incomefromoperations$187,000Otherincome:Gainonsaleofland$12,000Otherexpense:Interestexpense8,0004,000Incomebeforeincometax$191,000Incometax83,000Netincome$108,000,RundellInc.IncomeStatementFortheYearEndedDecember31,2006,Thisisanaccrualbasisincomestatement.Thedirectmethodofreportingcashflowswillessentiallyconvertthistoacashbasisstatement.,CashBasis,Cashflowsfromoperatingactivities:,OperatingActivitiesDirectMethod,Cashinflows:Cashreceivedfromcustomers$1,171,000Cashoutflows:Cashpaymentsformerchandise$785,200Cashpaymentsforoperatingexpenses193,800Cashpaymentsforinterest8,000Cashpaymentsforincometax83,5001,070,500Netcashflowfromoperatingactivities$100,500,Footnotes(notes)toFinancialStatements,Thenotesareworddescriptionsordetailedinformationontheitemspresentedinthebalancesheets,profitsstatements,cashflowstatementsandstatementsofchangesintheownersequities,andtheexplanationsontheitemsthatarenotpresentedinthesestatements.,(1)thebasisfortheformulationoffinancialstatements;(2)thedeclarationoncompliancewiththeaccountingstandardsforenterprises;(3)theexplanationsontheimportantaccountingpolicies,includingthebasisforthemeasurementofitemsofthefinancialstatementsandthebasisforthedeterminationofaccountingpolicies;,(4)theexplanationsontheaccountingestimates,includingthebasisforthedeterminationoftheaccountingestimatesthatmayresultinasignificantadjustmenttothecarryingamountoftheassetsorliabilitiesinthenextaccountingperiod;(5)theexplanationsonthechangesinaccountingpoliciesandestimatesandexplanationsonthecorrectionoferrors;,(6)themoredetailedexplanationsontheimportantitemspresentedinthebalancesheets,profitstatements,cashflowstatementsandstatementsofchangesintheownersequities,includingtheamountoftheprofitaftertheterminationofbusinessoperationanditscomposition;and(7)thecontingenciesandcommitments,non-adjustmenteventsoccurringafterthebalancesheetdate,therelationshipofconnectedpartiesandtheirtransactions,andotheritemsthatneedtobeexplanted.,CHAPTER5,CURRENTASSETS-CASH,TENMPORARYINVESTMENT,RECEIVABLES,LearningObjectives,Haveageneralideaofaneffectivesystemofinternalcontrolovercash;Learnhowtoprepareabankreconciliation;Mastertheaccountingtreatmentofaccountsreceivablesandnotesreceivables;Learntheaccountingtermsinthischapterandusetheminthetranslationtask.,Cash,WhatisCash?,Cashincludescoins,currency(papermoney),checks,moneyorders,andmoneyondepositthatisavailableforunrestrictedwithdrawalfrombanksandotherfinancialinstitutions.,Cashmanagement,Cashissusceptibletotheftorfraudunlessproperlysafeguarded.Cashplanning,controlling,andaccountingforcashtransactions.,Cashbudget:Theprimarycashmanagementtool,Purpose:Forecastscashinflows,outflows,andendingcashbalances.Usedtoplanloansneededorfundsavailabletoinvest.Timing:Daily,weekly,ormonthly,dependinguponpurposeofforecast.Monthlyforannualplanning,dailyforactualcashmanagement.,SKIscashbudget:ForJanuaryandFebruary,NetCashInflowsJanFebCollections$67,651.95$62,755.40Purchases44,603.7536,472.65Wages6,690.565,470.90Rent2,500.002,500.00Totalpayments$53,794.31$44,443.55NetCF$13,857.64$18,311.85,SKIscashbudget,NetCashInflowsJanFebCashatstartifnoborrowing$3,000.00$16,857.64NetCF13,857.6418,311.85Cumulativecash16,857.6435,169.49Less:targetcash1,500.001,500.00Surplus$15,357.64$33,669.49,Shoulddepreciationbeexplicitlyincludedinthecashbudget?,Shoulddepreciationbeexplicitlyincludedinthecashbudget?,No.Depreciationisanon-cashcharge.Onlycashpaymentsandreceiptsappearoncashbudget.However,depreciationdoesaffecttaxes,whichappearinthecashbudget.,Whataresomeotherpotentialcashinflowsbesidescollections?,Whataresomeotherpotentialcashinflowsbesidescollections?,Proceedsfromthesaleoffixedassets.Proceedsfromstockandbondsales.Interestearned.Courtsettlements.,Howcouldbaddebtsbeworkedintothecashbudget?,Howcouldbaddebtsbeworkedintothecashbudget?,Collectionswouldbereducedbytheamountofthebaddebtlosses.Forexample,ifthefirmhad3%baddebtlosses,collectionswouldtotalonly97%ofsales.Lowercollectionswouldleadtohigherborrowingrequirements.,AnalyzeSKIsforecastedcashbudget,Weassumecashholdingswillexceedthetargetbalanceforeachmonth.,AnalyzeSKIsforecastedcashbudget,Cashbudgetindicatesthecompanyisholdingtoomuchcash.SKIcouldimproveitsEVAbyeitherinvestingcashinmoreproductiveassets,orbyreturningcashtoitsshareholders.,WhymightSKIwanttomaintainarelativelyhighamountofcash?,Ifsalesturnouttobeconsiderablylessthanexpected,SKIcouldfaceacashshortfall.Acompanymaychoosetoholdlargeamountsofcashifitdoesnothavemuchfaithinitssalesforecast,orifitisveryconservative.Thecashmaybeused,inpart,tofundfutureinvestments.,Thefeaturesofanadequatesystemofinternalcontrolovercash,InternalControloverCash,BankReconciliation,Abankreconciliationisalistingoftheitemsandamountsthatcausethecashbalancereportedinthebankstatementtodifferfromthebalanceofthecashaccountintheledger.,ReasonsforDifferencesBetweenDepositorsRecordsandtheBankStatement,RecordedbydepositornotbybankOutstandingchecksDepositsintransitRecordedbybanknotbydepositorServicechargesCollectionsNot-sufficient-funds(NSF)checksandrelevantchargesErrors,NSF,Whenthecompanydepositsacheckissuedbyitsclientinabank,thebankwillimmediatelycreditthecompanysaccountfortheamountofthecheck.Onoccasions,thecheckprovestobeuncollectiblebecausethemakerofthecheckdoesnothavesufficientfundsinhisaccount.Insuchcase,thebankwilldebitthecompanysaccountfortheamountofthecheckandreturnthechecktothecompanymarked“NCF”.,PettyCash,Whydoesafirmuseapettycashfund?,Itisusuallynotpracticalforabusinesstowritecheckstopaysmallexpenditures,likepostage.Itisinconvenientandexpensive.,Tocontrolthesesmallpayments,apettycashfundisused.Thisisasmallcashfundunderthecontrolofapettycashier.,Accountingtreatmentforpettycash,EstablishthepettycashfundThesizeofthepettycashfunddependsonthenumberandamountofminorexpenditure.Manyfirmsmaintainfundsthatwilllastthreeorfourweeks.Anexample:P62,MakingdisbursementsfromthepettycashfundPettycashvoucherNumberDateofdisbursementNameofpayeeAmountoftheexpenditurePurposeforwhichtheexpenditurewasmadeAccountforeffectedbytheexpenditureSignatureofpayeeThetotalofcashandvoucherscontainedinthepettycashboxshouldagreewiththeexactamountoffund.,ReplenishingthepettycashfundAddtheamountofmoneytorestorethefundtoitsoriginalamount.Anexample:P63ThereordinarilywillbenofurtherentriesinthePettyCashacc