会计英语简答及计算.docx

Defnition1,Accounting Entity conventionDefinition: the smallest unit of activity with a self-contained accounting system. 2,Going-concern convention (continuity convention) Definition: the entity will remain in operation for the foreseeable future.3,Monetary convention Definition: an entitys transactions are recorded in the monetary unit of the country in which it is operating. (economic data be recorded in dollars)4, Materiality conventionDefinition: record and report separately only those transactions which are material.5, Cost conventionDefinition: enter the exchange price into the accounting records.6, Matching principleDefinition: all expenses incurred in earning revenue should be recognized in the same period the revenue is recognized.7, ContentsDefinition _ The proof of the equality of the debit and credit balances.8, Accounting CycleDefinition _ begins with analyzing and journalizing transactions and ends with summarizing and reporting these transactions.9, Work sheetDefinition _ is a working paper that accountants can use to summarize adjusting entries and the account balances for the financial statements.10, Balance SheetDefinition： Shows: (1)financial position of a business entity (2)by summarizing the assets, liabilities, and owners equity (3)at a specific date 11, Income StatementDefinition : Shows: (1)the results of operations for a business (2)matching revenue and the related expenses (3)for a particular accounting period (during a given time) 12, Cash flow statement:Definition: cash- currency. (the amount of founds that can be accessed by the company at any time, or on demand) cash on hand/on deposit/short term investment cash equivalents - investments which readily convertible to known amount of cash and be subject to an insignificant risk of changes in value. 13, inventory Definition： aggregation of tangible properties. (on BS: after accounts receivable)14, DepreciationDefinition:gradual conversion of the cost of a plant asset into expense in the period in which services are received from the asset.15, PartnershipsDefinitionAn unincorporated (非公司制的，非法人的） business that is jointly owned by two or more people.16, CorporationsDefinitionA legal entity having an existence separate and distinct from that of its owners17,plant and equipmentlong-lived assets acquired for use in the operation of the business. (not intended for resale to customers)Attention: From another viewpoint : “plant and equipment asset” as a stream of services to be received by the owner over a period of years.简答题一， 会计循环的步骤Accounting Cyclebasic steps:(1)Transactions are analyzed and recorded in the journal.(2) Transactions are posted to the ledger.(3) A trial balance is prepared, adjustment data are assembled, and an optional work sheet is completed.(4)Ajusting entries are journalized and posted to the ledger.(5) Financial statements are prepared.(6) Closing entries are journalized and posted to the ledger.(7) A post-closing trial balance is prepared.二，如何确定固定资产的入账成本How to determine the cost under the four typical circumstances?Principle - all expenditure reasonable and necessary (acquire)1 purchase for cash: cash outlay + freight + insurance + installation + trial runs + other costs2 exchange: the money amount of the resources given up to acquire it.3 donated: fair market value at the date of donation.4 self-constructed: the money amount of resources embodied in the asset.简答题2、How to control cash effectively and efficient?书115 334 3351 handle cash-accounting records2 prepare “immediate control listing of cash receipts”3 all cash receipts be deposited daily in bank4 make all payments by check5 issue check: verified every expenditure (validity and amount)6 approving expenditure- signing checks7 prepare BR（bank reconciliation）-access to cash-record cash transactiondescribe the internal control for accounts receivable briefly.书125Principle - proper segregation of duties. (employees)1 maintain accounts receivable-access to cash receipts2 handle cash receipts-records of receivables3 records of receivables-issue credit memos or write off receivables4 important documents: serially numbered4、投资中母子公司关系166 361Strategic relationshipControl: ( parent-subsidiary relationship )(1) able to determine financial and operating policies(2) owns more than 50% of the voting stockSignificant influence:(1) have a seat on BOD(2) participation in the policy-making process(3) material inter-company transactions(4) interchange of management personnel(5) technological interdependencies(6) at least 20%,but not more than 50%计算题1、80页format :multiple-step income statement single-step income statement Heading: (1)name of business(2)name of statement (3)periodBody: multiple-step single-step revenue revenues cost of goods sold expenses Gross profit on sales net income operating expenses income form operationsincome tax expensenet income 2、Depreciation 149到151How to compute depreciation?1 straight-line method:Depreciation per yearcostresidual value/years of useful life2 unit-of output method:Depreciation per unit of output (miles; inc