《审计专业英语》PPT课件.ppt

1、SPECIALIZED ENGLISH Auditing,专 业 英 语 审计学,Chapter One: Introduction,、Words and Phrases: enterprise 企业 business 企业 firm 公司、商号 concern vt. 涉及 与有关 企业 general purpose （普遍）通用的 criterion 标准 enhance vt. 提高、放大 感兴趣 return on 回报、报酬 return of 回收 收回 financial position 财务状况 financial progress 财务进展,internal users

2、内部信息使用者 external users 外部信息使用者 tax accounting 税务会计 tax planning 税务筹划 income tax return 所得税申报表 debt-paying ability 偿债能力 liquidity 清偿，偿债能力 cash flow : inflow 流入 outflow 流出 例：an inflow of bank deposits 银行存款的增加,、Reading Comprehension Main Ideas: Definition of Accounting: business language information sy

3、stem basis for decisions Types of Accounting Information: (1)Financial Accounting: Internal users External users: Owners . Creditors Governmental agencies Labor Unions,(2) Management Accounting (3) Tax Accounting 3. Three Fields of Accounting Private Accounting Public Accounting Government Accountin

4、g (nonprofit organizations) 4. Extending your knowledge(会计道德）,Multiple-choice question:,P12 Q-1. Which of the following does not describe accounting? a. Language of business. b. Is an end rather than a means to an end. c. Useful for decision making. d Used by business, government, nonprofit organiza

5、tions, and individuals. Q-2. To understand and use accounting information in making economic decisions, you must understand: a. The nature of economic activities that accounting information describes. b. The assumptions and measurement techniques revolved in developing accounting information. , c. W

6、hich information is relevant for a type of decision that is being made. d. All of the above.,Q-3. External users of financial accounting information include all of the following except: a. Investors. b. Labor unions. c. Line managers. d. General public. Q-4. Objectives of financial reporting to exte

7、rnal investors and creditors include preparing information about all of the following except: a. Information used to determine which products to produce. b. Information about economic resources, claims to those resources, and changes in both resources and claims. c. Information that is useful in ass

8、essing the amount, timing, and uncertainty of future cash flows. d. Information that is useful in making investment and credit decisions.,Q-5 Which of the following are important factors in ensuring the integrity of accounting information? a. Institutional factors, such as standards for preparing in

9、formation. b. Professional organizations, such as the American Institute of CPAs. c. Competence judgment and ethical behavior of individual accountants d. All of the above.,EXERCISE,E1-1 You recently invested $12,000 of your savings in a security issued by a large company. The security agreement pay

10、s you 7 percent per year and has a maturity two years from the day you purchased it. What is the total cash flow you expect to receive from this investment, separated into return on your investment and the return of your investment? E1-2 Divide into groups as instructed by your professor and discuss

11、 the following: a. How does the description of accounting as the language of business relate to accounting as being useful for investors and creditors? b. Explain how the decisions you would make might differ if you were an external investor or member of an enterprises management team.,CASE,C1-1. A

12、friend learns that you are taking an accounting course. Knowing that you do not plan a career in accounting, the friend asks you why you are wasting your time. Explain to the friend how you and your friends will use accounting information in a. Your personal life. b. The business of your friend, who

13、 plans to be a farmer. c. The business life of another friend, who plans a career in sales. C1-2 Ethical conduct and professional judgment each play important roles in the accounting process. a. In general terms, explain why it is important to society that people who prepare accounting information a

14、ct in an ethical manner. b. Identify at least three areas in which accountants must exercise professional judgment, rather than merely relying on written rules.,Chapter Two,Theoretical Framework underlying Financial Accounting Key words, phrases, and special terms P21 1、Words and Phrases: intuition

15、直觉力 实践性 rest on/upon =set up 建立 on account=on credit 赊账 utility 公用事业 utility expense 水电费 materiality 物质性 , 重要性 encompass 围绕 , 包含 constraint 强制,约束 hierarchy 等级制度,2、Reading Comprehension (GAAP) (1)Assumption Accounting entity 会计主体 Separate entity 独立实体 Going concern 持续经营 Continue operation (or continui

16、ng concern) measuring unit 计量单位 monetary unit 货币计量 stable-money-unit 稳定的货币单位 Accounting period 会计分期 Time-period 期间概念 Periodicity 定期,(2) Principles: accrual basis period of flight) b. Sales on account: In June 2005, a San Diego-based furniture store had a big sale, featuring No payments until 2006. (

17、Period furniture sold; periods that payments are received from customers) c. Magazine subscriptions revenue: Most magazine publishers sell subscriptions for future delivery of the magazine. (Period subscription sold; periods that magazines are mailed to customers),Chapter Three,Accounting Cycle 1 .

18、Words and Phrases: Key words, phrases, and special terms p38 interval 间隔 order 次序 in order of date=chronological 按时间顺序 original document=source document 原始凭证 make an entry=journalize 作分录 post 传递 邮递 过账 posting 过账 individual adj.个人的 单独的 individually adv.分别地 逐笔地,例：posting daily and individually 每天逐笔过账

19、Two-column” account “两栏式”账 “Three-column” account “三栏式”账 “T “account T型账 minus 减去 deduct vt. 减去 扣除 less prep. 减去 subtract (from) vt. 减去 扣除 例：Four minus two is two 4 2 =2 tax benefit 税收收益,2.Abbreviation(缩略语） Co. =Company 公司 Inc.=Incorporation 公司 Ltd.=Limited 有限的 a/c A/c= account 账户账目 A/o=account of .

20、账户 Amt.=amount 金额总计 Dr.=Debit 借方 Cr.=Credit贷方 Rec.=receipt 收据 T.B.=Trial Balance 试算表 Ult.(拉) ultimo=last month 上月的,Yrs.=year 年年度 Bal.=balance 余额 Ref.=reference凭证号码（参考符号）备查 Exp.=Explanation 摘要 Description摘要 St.=Statement 报表 End. bal.=Ending balance期末余额 Beg. bal.=Beginning balance 期初余额 adj.=adjustment

21、,3. Main Points (1.)Accounting Cycle p27 Make accounting entries p28-30 Journalizing and posting p30-31 Making end-of-period adjusting entries p31-33 Work sheet p34 Preparing financial statements p36-37 (2.) Worksheet 4.Extending Knowledge p37 -Adjustment for taxes in unprofitable periods,Multiple-c

22、hoice question p39,Exercise 1 p40,E2. On February 1, 2000, a computer software firm agrees to program to a software package. Twelve payments of $10,000 on the first of each month are to be made, with the first payment March 1, 2000,The software is accepted by the client June 1, 2001.How much 2000 re

23、venue should be recognized? E2. Answer: 0 E3-1 J. Linda began a public accounting practice and completed these transactions during November of the current year: Nov.1 Invested $3,500 cash in a public accounting practice begun this day. Paid cash for three months office rent in advance $900. Purchase

24、d office supplies, $60, and office equipment, $2,000, on credit. Paid the premium on two insurance policies, $375. Completed accounting work for Jack Hall and collected $15 cash therefore.,Completed accounting work for Sun Bank on credit, $350. Purchase additional office supplies on credit, $25. Rec

25、eived $350 from Sun Bank for the work completed on November 13. Made a $250 installment payment on the supplies and equipment purchased on November 2. 30. Linda wrote a $45 check on the bank account of the accounting practice to pay the electric bill of her personal residence. 31.Completed accountin

26、g work for Evans Company on credit, $300. 31.Paid the monthly utility bills of the accounting office, $30.,Required: 1.Open following accounts: Cash; Accounts Receivable; Prepaid Rent; Prepaid Insurance; Office Supplies; Office Equipment; Accounts Payable; J. Linda Capital; Accounting Revenue; Utili

27、ty Expenses; J. Linda, personal. 2Prepare general journal entries to record the transactions, post to the accounts, and prepare a trial balance. Head the trial balance J. Linda, CPA.,E3-1 Answer:,Nov. 1, Dr. Cash $3,500 Cr. Capital Stock $3,500 Dr. Prepaid Rent $ 900 Cr. Cash $900 2, Dr. Office Equi

28、pment $2,000 Office Supplies 60 Cr. Accts. Pay. $2,060 3, Dr. Prepaid Rent $375 Cr. Cash $375,8, Dr. Cash $ 15 Cr. Accounting Revenue $ 15 13, Dr. Accts. Rec. $ 350 Cr. Accounting Revenue $ 350 15, Dr. Office Supplies $25 Cr. Accts. Pay. $25 23, Dr. Cash $ 350 Cr. Accts. Rec. $ 350,24, Dr. Accts. Pa

29、y. $250 Cr. Cash $250 29, Dr. J. Linda, personal $45 Cr. Cash $45 30, Dr. Accts. Rec. $ 300 Cr. Accounting Revenue $ 300 Dr. Utility Exp. $30 Cr. Cash $30,E3-2 Nice began a new business and during a short period completed these transactions; Began business by investing $ 20,000 in cash and office eq

30、uipment having a $1,000 fair value. Purchased for $10,000 land to be used as an office site and for parking Equipment paid $5,000 in cash and signed a promissory note for the balance. Completed a work for ABC co. $5，000， on credit. Paid the wages of the equipment operator $900. Received $5,000 from

31、ABC co. for the work of transaction,Paid the monthly utility bills of the business,$100. Nice wrote a $120 check on the bank account of the business to pay the electric bill of her personal. Paid cash for three months office rent in advance. $300. Required: make the entries to record the above trans

32、actions.,Chapter Four,Basic Financial Statements 1 、Words and Phrases: Key words, phrases, and special terms p51,Other income (expense) 其他收入（支出） miscellaneous adj.杂项的混合的 concise 简明的简洁的 in contrast to 与对照相比 arrive (at)到达达账结出 reach结账 short-term短期 long-term 长期 long-lived asset=fix asset 固定资产,plant asse

33、t厂场资产 settlement 清偿 liquidation清算 due=maturity到期 discount折扣贴现 contributed capital 投入资本缴入资本 approach=method=means=way 方法手段 goods=merchandise商品 total总计 合计 subtotal小计,freight in=transportation in（进）运费 freight out=transportation out（出）运费 delivery cost运费provision for 备付 profit-sharing plan （职工）分红计划 2.Abb

34、reviation(缩略语） Gen. Exp.= General Expense 总务费 Adm. Exp.=Administration Expense管理费 Sales Dis.= Sales Discount销货折扣 Pur. Dis.=Purchase Discount购货折扣,3. Reading Comprehension (Main Points) (1.) Balance sheet Assets=Liabilities + Owners Equity (Stockholders Equity) Assets: 1)current assets 2) long-term as

35、sets (non-current assets): fixed assets Investment (more than one year) intangible assets Liabilities: current liabilities long-term liabilities,Owners Equity: (1) contributed capital (2)retained earnings 2.Income Statement: Single-step approach Multiple-step approach 3.Retained Earnings Statement 4

36、. Extending Knowledge _Combined Statement of Income and Retained Earnings,Multiple-choice question p52 Q4-1. A set of financial statements: a. Is intended to assist users in evaluating the financial position, profitability, and future prospects of an entity, b. Is intended to assist the Internal Rev

37、enue Service in determining the amount of income taxes owed by a business organization, c. Includes notes disclosing information necessary for the proper interpretation of the statements. d. Is intended to assist investors and creditors in making decisions involving the allocation of economic resour

38、ces.,Q4-2. Water world Boat Shop purchased a truck for $12,000, making a down payment of $5,000 cash and signing a $7,000 note payable due in 60 days. As a result of this transaction: a. Total assets increased by $12,000. b. Total liabilities increased by $7,000. c. From the viewpoint of a short-ter

39、m creditor, this transaction makes the business more liquid. d. This transaction had no immediate effect on the owners equity in the business.,Q4-3. A transaction caused a $15,000 decrease in both total assets and total liabilities. This transaction could have been: a. Purchase of a delivery truck f

40、or $15,000 cash. b. An asset with a cost of $15,000 was destroyed by fire. c. Repayment of a $15,000 bank loan. d. Collection of a $15,000 account receivable. Q4-4. Which of the following is (are) correct about a companys balance sheet? a. It displays sources and uses of cash for the period. b. It i

41、s an expansion of the basic accounting equation: Assets = Liabilities + Owners Equity.,c. It is sometimes referred to as a statement of financial position. d. It is unnecessary if both an income statement and statement of cash flows are available. Q4-5. Which of the following would you expect to fin

42、d in a correctly prepared income statement? a. Cash balance at the end of the period. b. Revenues earned during the period. c. Contributions by the owner during the period. d. Expenses incurred during the period to earn revenues.,EXERCISES 2 p53,E4-1, SINGLE-STEP INCOME STATEMENT The following items

43、 relate to the current years operations of Johnson Equipment Company: Inventory, beginning of year $69,126,500 Depreciation . 5,032,200 Sales .293,621,000 Purchases 198,735,600 Inventory, end of year . 63,433,500 Sales returns and allowances . 4,111,700 Freight in . 33,007,200 Income taxes 11,813,00

44、0 Purchase discounts, returns, and allowances . 27,234,500 Miscellaneous income . 2,364,000 Selling, general, and administrative expe46,045,300 Interest expense 4,952,200 Other expenses . 670,100 REQUIRED Prepare in good form a single-step income statement.,E4-2 SINGLE-STEP AND MULTIPLE-STEP INCOME

45、STATEMENT The following income statement items were taken from the accounts of Comfy Comput6er Corporation (in millions of dollars): Sales $2,845.7 Interest expense . 39.3 Research and development costs . 187.2 Gain on sale of fixed assets . 16.7 Cost of sales . 2,239.3 Computer rental and service r

46、evenue . 702.1 Income taxes 140.7 Tax benefit of operating loss carry forward . 19.9 Selling, general, and administrative expenses . 794.0 Interest income . 17.5 REQUIRED Prepare a single-step income statement, Prepare a multiple-step income statement,E4-3 The balance sheet items to The Oven Bakery

47、(arranged in alphabetical order) were as follows at August 1, 2005. (You are to compute the missing figure for retained earnings.) Accounts Payable . $16,200 Capital Stock . $80,000 Accounts Receivable . 11,260 Land . . . 67,000 Building . 84,000 Notes Payable .74,900 Cash . 6,940 Salaries Payable .

48、 8,90 Equipment and Fixtures .44,500 Supplies . 7,000 REQUIRED: Prepare a balance sheet at August 1 2005.,Chapter Five,Current Assets A 、Key words, phrases, and special terms p74 intact adj.完整的如数的 in transit 在途 sales on credit (account) 赊销 purchase on credit (account) 赊购 cash payment=cash disburseme

49、nt现金支付 bank deposit=cash in bank银行存款 change vt. 改变n.找头 例：too much change or be short changed 多找或少找 place=deposit 存入（银行） collectionn.收集收获托收款项 uncollectible items退票（未收款）,money 汇票(money order) draft汇票(bank draft) cancelled check 已付支票 factor因素代理商 pledge 担保抵押品誓约 collateral 附带的间接的 B.Abbreviation(缩略语） Inv.

50、 No.=Invoice Number发票号码 Exp.=Explanation摘要 Accts. Rec.=Accounts Receivable应收账款 Accts. Pay =Accounts Payable应付账款 Col. Fee=Collection fee手续费 Outst. Check=Outstanding Check未兑现支票,C. Main Points 1.Cash Internal control Bank Reconciliation Petty cash 2.Temporary Investment,3.Accounts Receivable (1)Receiva

51、bles: Accounts Rec. /Notes Rec. / Other Rec. (2) Accounts Rec. Bad debts Estimating: Income statement method (percentage of credit sale) Balance sheet method: a. Allowance method b. Direct write-off (3) Notes Rec. Maturity value=principal + interest Discounting 4. Extending Knowledge _Factoring Acco

52、unts Receivable,Multiple-choice question p75 Q5-1. In general terms, financial assets appear in the balance sheet at: a. Face value. b. Current value. c. Cost. d. Estimated future sales value. Q5-2. Which of the following practices contributes to efficient cash management? a. Never borrow money-main

53、tain a cash balance sufficient to make all necessary payments. b. Record all cash receipts and cash payments at the end of the month when reconciling the bank statements. c. Prepare monthly forecasts of planned cash receipts, payments, and anticipated cash balances up to a year in advance. d. Pay ea

54、ch bill as soon as the invoice arrives.,Q5-3. Each of the following measures strengthens internal control over cash receipts except: a. The use of a petty cash fund. b. Preparation of a daily listing of all checks received through the mail. c. The deposit of cash receipts in the bank on a daily basi

55、s. d. The use of cash registers. Q5-4. Puget Sound Co. sold marketable securities costing $80,000 for $92,000 cash. In the companys income statement and statement of cash flows, respectively, this will appear as: a. A $12,000 gain and a $92,000 cash receipt. b. A $92,000 gain and an $8,000 cash rece

56、ipt. c. A $12,000 gain and an $80,000 cash receipt. d. A $92,000 sale and a $92,000 cash receipt.,Q5-5. Under the direct write-off method of accounting for uncollectible accounts: a. The current year uncollectible accounts expense is less than the expense would be under the allowance approach. b. Th

57、e relationship between the current period net sales and current period uncollectible ac- counts expense illustrates the matching principle. c. The Allowance for Doubtful Accounts is debited when specific accounts receivable are determined to be worthless. d. Accounts receivable are not stated in the balance sheet at net realizable value, but at the balance of the Accounts Receivable control account.,Q5-6. October 1, 2005, Coast Financial loaned Bart Corporation $300,000, receiving in exchange a nine-month, 12 percent note receivable. Coast