中级财务会计英文版复习提纲2.docx

chapter 51. 现金归属范围Included in cash items (a) Coins and currency (paper money) (b) Unrestricted funds on deposit with banks (checking accounts or savings accounts) (c) Negotiable checks (可兑现支票) (d) Cashiers checks (银行本票) (e) Certified checks (保付支票) (f) Travelers checks (旅行支票) (g) Money orders (邮政或者快递公司汇款)Excluded in cash items2.内控internal control 内控目标(1) Protect assets(2) Ensure business information is accurate(3) Promote efficient operations(4) Comply with laws and regulations 内控原则Certain fundamental internal control principles apply to all companies. 1. Establish responsibilities2. Maintain adequate records3. Insure assets and bond key employees4. Separate recordkeeping from custody of assets5. Divide responsibility for related transactions6. Apply technological controls7. Perform regular and independent review. 内控的限制 The most serious limitation is the human element.(1) Human error. Human error can occur form negligence, fatigue, misjudgment, or confusion.(2) Human fraud. Human fraud involves intent by people to defeat internal control policies and procedures. The human element highlights the importance of establishing an internal control environment. Three factors will influences the control environment.(1) Managements philosophy and operating style(2) The businesss organizational structure(3) Personnel policies Another important limitation on internal control is the cost-benefit principle. This means the costs of internal controls must not exceed their benefits. 现金内控 Three basic guidelines：1. Handling cash is separate from recordkeeping of cash.2. Cash receipts are promptly deposited in a bank.3. Cash payments are made by check. Internal control of cash receipts(1) Immediately count the receipts. (2) Record daily all cash receipts in the accounting records.(3) Deposit daily all receipts in the companys bank account. Internal Control of cash payments(1) Cash controls must provide assurance that payments are made for only authorized transactions.(2) Cash controls should ensure that cash is used efficiently.(3) A voucher system provides assurance that what is being paid for was properly ordered, received, and billed by the supplier.3.银行对账单chapter 31.BS1) A balance sheet summarizes the financial position of a company at a particular date. A balance sheet may be called a statement of financial position.2) The financial position includes its economic resources (assets), economic obligations (liabilities) and equity, and their relationships to each other at a moment in time.3) A companys balance sheet is intended to help external users(1)assess the companys liquidity, financial flexibility, and operating capacity and (2) evaluate information about its income-producing performance during the period.4) Limitations of the balance sheet(1)does not include all of its economic resources and economic obligations.(2)many of the amounts that a company reports are based on estimates, which are subject to change;(3)do not show the purchasing power of its assets and liabilities; (4)do not attempt to show the fair value of a company.2.资产负债表元素1) assets：(1) A future economic benefit (the potential to contribute, directly or indirectly, to the flow of cash and cash equivalents to the entity) exits;(2) The business has an exclusive right to control the benefit;(3) The benefit must arise from past transactions or events.2) liability：(1)An essential characteristics of a liability is that the entity has a present obligation(2) Settlement of a present obligation will involve the entity giving up resources embodying economic benefits in order to satisfy the claim of the other party. This may be done in various way, not just by payment of cash.(3) Liabilities must arise from past transactions or events3.BS元素衡量4.分类:A representative classification would be:1.Assets a. Current assets：cash& cash equivalents, temporary investments in marketable securities, receivable, inventory, prepaid items b. Long-term investments c. Property, plant, and equipment d. Intangible assets e. Other assets2.Liabilities a. Current liabilities: accounts payable, salaries payable, unearned items, estimated liabilities for short-term peoduct warranties b. Long-term liabilities c. Other liabilities: deferred tax liabilities3. Stockholders equity a. Contributed capital (1) Capital stoc