会计英语课件：Introduction to Accounting

IntroductiontoAccountingAims:1.Useaccountingvocabulary.2.Explainwhataccountingis.3.Describethefinancialaccountingandmanagerialaccounting.4.Usetheaccountingequationtodescribeanorganization’sfinancialposition.5.Prepareandusethefinancialstatements.6.Usetheaccountingequationtoanalyzebusinesstransactions.7.Explainwhattheaccountingelementsare.BaiduWithInternetspacebooming,Baidubecomesabigandfamouscompany.Asweknow,baiduofferssearchandotherservices.Thankstobaidu,userscangetrelevantinformationonlinemucheasierthroughlinksprovidedonourwebsite,apps,etc.Internet-basedcompanieslikebaiduoperateinhighlycompetitivemarketsandfacealotofuncertainties.EveryyearmanynewInternet-basedcompanieswerefoundedandsomeInternet-basedcompanieswentbankruptinthemeantime.Ifyouwereaninvestorwhowantedtoinvestinaninternet-basedcompany,howwouldyouknowwhetherbaiduoranyothercompanyisagoodchoice?Whatinformationwouldyouneedtohelpyoumakeadecision?Youcangetaccountinginformationfromacompany’sfinancialstatements.Thefinancialstatementshelpinvestors,creditors,andotherinterestedpartiesbetterunderstandacompany.Inthislesson,youareintroducedtothefinancialstatements—balancesheet,incomestatement,thestatementofChangesinEquityandthestatementofcashflows.BaiduIfyouwereaninvestorwhowantedtoinvestinaninternet-basedcompany,howwouldyouknowwhetherbaiduoranyothercompanyisagoodchoice?Whatinformationwouldyouneedtohelpyoumakeadecision?Youcangetaccountinginformationfromacompany’sfinancialstatements.Thefinancialstatementshelpinvestors,creditors,andotherinterestedpartiesbetterunderstandacompany.Inthislesson,youareintroducedtothefinancialstatements—balancesheet,incomestatement,thestatementofChangesinEquityandthestatementofcashflows.1.1

WhatIsAccounting?Accountingprovidesfinancialinformationfordecision-makinginthebusinessworld.Accountingis“languageofbusiness.”

Accountingisaservice-basedprofessionthatprovidesreliableandrelevantfinancialinformationusefulinmakingdecisions.1.2

FinancialAccountingv.sManagerialAccountingAccountinginformationthatisintendedtosatisfytheneedsofresourceowners(externalusers)iscalledfinancialaccounting.Managerialaccountingprovidesusefulinformationthatisneededinoperatinganorganizationbyinternalusers.1.3

FinancialStatementsThefourwidely-usedfinancialstatementsabusinessenterpriseusesare:(1)Incomestatement;(2)StatementofChangesinEquity;(3)BalanceSheet;(4)StatementofCashFlows.1.4

IncomeStatementIncomeStatementForthePeriodEnded2020

Revenue$10

000

Expenses

4

000

Net

Income

$6

000

1.5

RevenueRevenuesareincreasesinretainedearningsfromdeliveringgoodsorservicetocustomersorclients.1.6

ExpenseExpensearedecreasesinretainedearningsthatresultfromoperations.Expensearethecostofdoingbusinessandaretheoppositeofrevenues.Expensesincludeofficerent,salaries,andutilitypaymentsetc.1.7

StatementofChangesinEquityABCCompanyStatementofChangesinEquityForthePeriodEnded2012

Beginning

Contributed

Capital$0

Plus:

Capital

Acquisition20

000Ending

Contributed

Capital

20

000

Beginning

Retained

Earnings0

Plus:

Net

Income6

000

Less:

Distribution(4

000)Ending

Retained

Earnings

2

000

Total

Equity

$22

000

1.8

BalanceSheetABCCompanyBalanceSheetasatDecember31,2012Assets$30

000Total

Assets

30

000

Liabilities8

000Equity

Contributed

Capital20

000

Retained

Earnings2

000Total

Equity22

000Total

Liability

and

Equity

(Claims)

$30

000

1.9

AssetsAssetreferstoanyitemofeconomicvalueownedbyanindividualorcorporation.Assetsaredividedintothefollowingcategories:current,long-term,prepaidanddeferred,andintangibleassets1.10

LiabilitiesLiabilitymeansanobligationthatlegallybindsanindividualorcompanytosettleadebt.Liabilitycanincludeaccountspayable,taxes,wages,accruedexpenses,anddeferredrevenues.Currentliabilitiesaredebtspayablewithinoneyear,whilelong-termliabilitiesaredebtspayableoveralongerperiod.1.11

Owner

sEquity(Capital)Owners’equityreferstoownershipinterestinacorporationintheformofcommonstockorpreferredstock.Italsoreferstototalassetsminustotalliabilities,inwhichcaseitisalsoreferredtoasshareholders’equityornetworthorbookvalue.1.12

StatementofCashFlowsStatementofCashFlowsForthePeriodEnded2019Assignment：Translateandfillintheblanks.翻译下面报表。课本Assignment1学习任务单Task6IncomeStatement（中文：）ForthePeriodEnded2020

BalanceSheet（中文：）asatDecember31,2020Assets（中文：）$30

000Total

Assets

30

000

Liabilities（中文：）8

000Equity（中文：）

Contributed

Capital（中文：）20

000

Retained

Earnings（中文：）2

000Total

Equity22

000Total

Liability

and

Equity

(Claims)

（）StatementofCashFlows(中文：)ForthePeriodEnded2020

Cash

Flows

from

Operating

Activities(中文：)5

000

Cash

Flows

from

Investment

Activities(中文：)

0

Cash

Flow

from

Financing

Activities(中文：)

25

000

Net

Increase

in

Cash(中文：)30

000

Plus:

Beginning

Cash

Balance(中文：)0Ending

Cash

Balance(中文：)

$30

000

StatementofChangesinEquity(中文：)

ForthePeriodEnded2012

Beginning

Contributed

Capital(中文：)$0Plus:

Capital

Acquisition20

000Ending

Contributed

Capital

20

000

Beginning

Retained

Earnings0

Plus:

Net

Income6

000

Less:

Distribution(4

000)Ending

Retained

Earnings

2

000

Total

Equity

$22

000

Activities:Howtogetthefinancialreport?

YoucanlearnitfromthevideobyscanningtheQRcode.Activities:请阅读星巴克公司报表，回答以下问题：1、按照报表，写出星巴克公司资产负债表的英文名称（标题），利润表的英文名称（标题），现金流量表的英文名称（标题），2、资产总额是多少？3、负债总额是多少？4、流动资产总额是多少？5、所有者权益是多少？6、收入总额是多少？7、销售成本是多少？8、经营活动产生的现金流是多少？9、投资活动产生的现金流是多少？10、融资活动产生的现金流是多少？summary1.13

AccountingEquationAssets=ClaimsAssets=Liabilities+Equity？1.14

ExampleforAssets=ClaimsNowlet’sseehowtheelementsofaccountingequationchangeduringanoperatingcycle.Wewillhaveafewtransactionsandwillfollowtherelevantchanges.1.15

HowDotheElementsofAccountingEquationChange?(1)TomCompanyisestablishedwhentheirownerspool$10000intothebusiness.Theeffectsofassetsacquisitionontheaccountingequationare:ClaimsAssets=Liabilities+Equity$10

000=$0+$10

000ClaimsAssets=Liabilities+EquityBeginning

Balances$10

000=$0+$10

000EffectofBorrowing+$4

000=+$4

000Ending

Balances$14

000=$4

000+$10

000(2)Next,assumethatTomCompanyobtainsanadditional$4000ofassetsbyborrowingthemfromcreditors.Thisisalsoanassetsourcetransaction.Notethatthebeginningbalancesareoriginatedfromtheendingbalancesofthelasttransaction:EquityContributedRetainedAssets=Liabilities+

Capital+EarningsBeginning

Balances$14

000=$4

000+$10

000+$0

EffectofRevenue+$6

000+$6

000Ending

Balances$20

000=$4

000+$10

000+$6

000

(3)AssumethatTomCompanyreceived$6000inexchangeforservicesthatitprovidedtoitscustomers(notethatwhileassetsincrease,retainedearningsgetbiggeralso):

(4)AssumethatTomCompanyhadbeenrequiredtouse$2000ofitsassetstoearn$6000fromtheprevioustransaction.Theeffectoftheassetusetransactionontheaccountingequationisshownasfollows:EquityContributedRetainedAssets=Liabilities+Capital+EarningsBeginning

Balances$20

000=$4

000+

$10

000+$6

000Effect

of

Expenses($2

000)($2

000)Ending

Balances$18

000=$4

000+

$10

000+$4

000

(5)AssumeTomCompanytransfers$500ofassetstotheowners:EquityContributedRetained

Assets=Liabilities+Capital+EarningsBeginning

Balances$18

000=$4

000+$10

000+$4

000Effect

of

Distribution($500)($500)Ending

Balances$17

000=$4

000+$10

000+$3

0001.16

EndingBalancesAsanaccountingperiodisover,endingbalancesoftheperiodchangeintobeginningbalancesofthenextperiodsuchasassets,liabilities.Attheendofanaccountingperiod,amountsintherevenue,expense,anddistributionaccountsa