教学材料《会计》-Chapter1

Chapter1AccountingLesson5AssetsLesson6MethodsforAccountingInventoryCostLesson7Liabilities,Owners'Equity,Revenues,ExpensesandProfitsLesson8DepreciationandDepreciationMethodsChapter1AccountingLesson9BalanceSheetsandIncomeStatementsLessonl0StatementsofCashFlowsandStatementsofChangesinOwners‘EquityLesson1AnIntroductiontoAccountingAccountingisthebackboneofmodernbusiness.Theinformationcollectedthroughaseriesofaccountingproceduresandapproachescanprovidereliablefinancialmessagesfordecisionmakersinthebusinessworld.Financialaccountingandmanagerialaccountingaretwomajorspecializedfieldsinaccounting.Financialaccountingaimstosatisfytheneedsoftheinterest-relatedusers(externalusers)intheformoffinancialreportswhichrevealtheinformationonfinancialpositionandoperatingresultsofabusiness.Theexternalusersconcernedaremanagers,stockholders,creditors,banks,governmentagenciesandthepublic,etc.下一页返回Lesson1AnIntroductiontoAccountingManagerialaccountingisintendedtoprovideusefulfinancialinformationforinternaluserstoassisttheminmakingdecisionsrelatedtooperatingabusiness,suchasdecisionsinvolvedinbudgeting,planning,controlling,examiningandevaluating.Inoneword,bothfinancialaccountingandmanagerialaccountingaresupposedtopresentusefulfinancialinformationforusers.AccountingElementsandAccountingEquationEnterpriseaccountingdealswiththefundsmovementwithinaspecificenterprise.Accountingelementsarebasicclassificationofsuchaccountingpractices.Therearesixmainelements,namely,assets,liabilities,owner'sequity,revenue,expenseandprofit.上一页下一页返回Lesson1AnIntroductiontoAccountingAccountingTitlesandAccountsAccountingelementsaretheconcretionofaccountingobjects,whileaccountingtitlesarethefurtherdivisionofthespecificcontentsofaccountingelements.Accordingtotheeconomiccontents,theaccountingtitlesfallintothesixcategoriesasfollows.Assets:e.g.cashonhand,bankdeposit,accountsreceivable,fixedassets,accumulateddepreciation,etc.Liabilities:e.g.accountspayable,long-termloans,short-termloans,taxespayable,bondspayable,etc.上一页下一页返回Lesson1AnIntroductiontoAccountingOwners'Equity:e.g.paid-incapital,capitalreserve,surplusreserve,profitdistribution,etc.Cost:e.g.productioncost,manufacturingexpense,etc.ProfitandLoss:e.g.primeoperatingrevenue,primeoperatingcost,sellingexpense,administrativeexpense,financeexpense,incometaxexpense,etc.Commonclass:e.g.liquidationofinterbankbusiness,etc.Businesstransactionsareconductedinvariousforms,andtheaccountingelementsareaccordinglychanged.Inordertohavearecordofallthetransactionsrelatedtoanenterprise,aseriesofaccountsarerequiredtocollectdataforthefivemajoraccounttiles,namelyassets,liabilities,owner'sequity,revenueandexpenses.上一页下一页返回Lesson1AnIntroductiontoAccountingTheaccountpresentedbelowiscalledaT-accountbecauseitresemblestheletter"T."SeeTable1-1.AT-accountillustratesthecompositionofthebalancesheetofacompanyorindividual.TheleftsideoftheT-accountiscalledDebit,andtherightsideiscalledCredit.OftenthesetwotermsareabbreviatedasDr.andC.r.上一页返回Lesson2NewAccountingStandardsandAccountingJobsTheNewVersionofChineseAccountingStandardsforBusinessEnterprisesAftertwoyears'efforts,theMinistryofFinancelaidoutnewaccountingstandardsforbusinessesandrequiredthatthesenewstandardsshouldbeadoptedbyenterpriseslistedinthePRCasofthedateofJanuary1,2007.Thenewstandardscompriseonebasicstandard,and38specificstandardsandpracticalguidelines.Thebasicstandardplaysanimportantroleintheaccountingsystem,sinceithasbeendevelopedinthelightofthelatestnationalcriteriaandresearchachievementsinthisfield.下一页返回Lesson2NewAccountingStandardsandAccountingJobsItfocusesonfiveaspects:①objectivesoffinancialreporting;②basicaccountingassumptions;③accountingbasis;④qualitativerequirementsofaccountinginformation;⑤classificationandmeasurementofaccountingelements.Thespecificstandards,basedonthebasicstandard,regulatetherecognitionandmeasurementofspecificbusinesstransactionsforenterprises.Thecontentsarelistedasfollows:①inventories;②long-termequityinvestments;③investmentproperty;④fixedassets;⑤biologicalassets;⑥intangibleassets;⑦exchangeofnon-monetaryassets;⑧impairmentofassets;⑨employeebenefits;⑩enterpriseannuityfund;@share-basedpayment;⑩debtrestructuring;⑩contingencies;@revenue.上一页下一页返回Lesson2NewAccountingStandardsandAccountingJobs⑩constructioncontracts;⑩governmentgrants;⑩borrowingcosts;⑩incometaxes;⑩foreigncurrencytransaction;⑩businesscombination;⑧leases;⑩recognitionandmeasurementoffinancialinstruments;⑩transferoffinancialassets;@hedging;⑩directinsurancecontracts;⑩re-insurancecontracts;⑩extractionofpetroleumandnaturalgas;⑩changesinaccountingpoliciesandestimatesandcorrectionoferrors;⑩eventsafterthebalancesheetdate;⑩presentationoffinancialstatements;@cashflowstatements;⑩interimfinancialreporting;⑩consolidatedfinancialstatements;@earningspershare;⑩segmentreporting;⑩relatedpartydisclosures;⑩presentationoffinancialinstruments;⑩firsttimeadoptionofaccountingstandardsforbusinessenterprises.上一页下一页返回Lesson2NewAccountingStandardsandAccountingJobsAccountingJobsTofulfilltheaccountingwork,someworkerswillbeemployedbyabusinesstodealwithtransactionsinthisfiled.Theirdutieswillbeclearlyclarifiedinordertoenhancethemanagementandtheefficiencyoftheirwork,andbyextensiontoensurethesmoothprocessofaccounting.Accordingtospecificworkingcontents,accountingstaffcanbefurtherdividedintochiefaccountants,cashiers,assetaccountants,payrollaccountants,costaccountants,profitaccountants,fundaccountants,accountingclerks,generalledgeraccountants,auditorsandbookkeepers,etc.上一页下一页返回Lesson2NewAccountingStandardsandAccountingJobsThechiefaccountantisresponsibleforsupervisionandcontrolofthegeneralaccountingarea,suchasrecordinggeneralledgersandcheckingjournalsandsubsidiaryledgers,preparingtrialbalance,andfinancialstatements,analyzingandpredictingfinancialposition,participatinginplan-makinganddecision-making.Thecashierisinchargeofkeepingmoneyandjournals,checkingvouchersandsettlingthetransactionsamongenterprises.上一页返回Lesson3DoubleEntryAccountingandAccountingDocumentsAccountingapproachesrefertothosetechnicalmethodsappliedtoaccountingpractices,includingaccountingcalculation,analysis,auditingandprediction.Amongthem,calculationisthemostimportantinaccounting.Theaccountingcalculationsystemislistedasfollows:(1)Fillinginandexaminingaccountingdocuments.(2)Bookkeeping.(3)Costcalculation.(4)Propertyinspection.(5)Preparingfinancialstatements.下一页返回Lesson3DoubleEntryAccountingandAccountingDocumentsDoubleEntryAccountingToachievethesatisfactorycalculationandsupervisioninaccounting,adoubleentrysystemisalwaysemployedbyenterprisesforrecordingtransactionsbasedonrecordingincreasesordecreasesinaccountingelements.Thedebit-creditbookkeepingiswidelyadoptedinChina.Thebasicrulesforthisbookkeepingmethodhavebeenputforward:(1)"Debit"isontheleftsideand"credit"isontherightsideofanaccount,withoutanyeconomicmeanings.(2)Whetherthetransactionresultsinanincreaseoradecreasedependsonthespecificeconomiccontentsandnatureofthataccount.上一页下一页返回Lesson3DoubleEntryAccountingandAccountingDocumentsAtableofaccountsandhowtheyareincreasedordecreasedispresentedbelow(seeTable1-2).(3)Thebalanceofanyaccountsshouldberecordedonthesidewhereanincreasedamountappears.Underthedouble-entryaccounting,everybusinesstransactionaffectsatleasttwoaccounts,forthetotaldebitsrecordedshouldalwaysbeequaltothetotalcreditsrecorded.Forexample,whenacompanypays￥100foradministrativeexpensesincash,theadministrativeexpenses"shouldberecordedonthedebitsideand"cashonhand"onthecreditside,withtheamountof￥100foreach.Thisexamplevividlyexpressestherelationshipof"debit"and"credit"inthisbookkeepingapproach.上一页下一页返回Lesson3DoubleEntryAccountingandAccountingDocumentsAccountingDocumentsTheaccountingcyclebeginswiththeanalysisandthejournalizingoftransactionsbasedonsourcedocuments.Sourcedocumentsandvouchersarecalledaccountingdocumentswhichconfirmthatatransactionhasoccurredandestablishtheamountstoberecorded.Besides,documentsprovidewrittenevidencetoclarifyeconomicresponsibilitiesandlayasolidfoundationforbookkeeping.Asaformalrecordingmeansduringeachoperatingperiod,thedocumentscallforthecarefulfilling-inprocedures.Forexample,TuoWeiCorporationpurchasedastate-investedmachineforX20,000onApril21,2009.上一页下一页返回Lesson3DoubleEntryAccountingandAccountingDocumentsThistransactioninvolvestwoaccounts,namely,thefixedassetsandpaid-incapitals.Theincreaseinthefixedassetsisrecordedonthedebitsidewhiletheincreaseinthepaid-incapitalsonthecreditside(seeTable1-3).上一页返回Lesson4AccountBooksandPropertyInspectionAccountBooksAfterthecompletionofatransaction,thedateandtheamountsofthedebitsandcreditsareenteredintheappropriateaccounts.Anaccountbookisarecordinwhichfinancialtransactionsaresystematicallyandcomprehensivelyrecordedbasedontheaccountingdocuments.Itismadeupofalargenumberofaccountpageswhicharekeptinspecialformats.Accordingtotheiruses,accountbookscanbedividedintojournal,ledgerandmemorandumbooks.Accordingtotheformatofaccountpages,theycanbedividedintothree-columnbooks,quantity-amountbooksandmulti-columnbooks.Thecommonlyusedbooksarespecialjournals,generalledgersandsubsidiaryledgers.下一页返回Lesson4AccountBooksandPropertyInspectionSpecialjournalsmainlyconsistof"cashjournals"and"depositjournals."Everyspecifictransactionwillbedetailedlyrecordedbycashiersinaspecialjournaleverydayaccordingtoachronologicalorder.Specialjournalsusuallyadoptthethree-columnstructure(seeTable1-4).Thegeneralledger,sometimesknownasanominalledger,istheclassifiedrecordingofalleconomictransactions.Itisusedtoreflectandrecordthefundsmovementandfinancialbalancescausedbyeconomictransactionsinagivenaccountataparticulartimeandtopreparedataforfinancialstatements.Therefore,itisrequiredineverycompanyorunit.Wealwayskeepthegeneralledgerinathree-columnformat(seeTable1-5).上一页下一页返回Lesson4AccountBooksandPropertyInspectionThesubsidiaryledgercantakeseveralforms.Itdependsonthespecificadministrativerequirementssetbythecompany.Three-columnbook,multi-columnbookorquantity-amountbookarenicechoices.Theprocessoftransferringtheaccountinginformationfromjournalstotheledgerisknownasposting.Closingentriesmustbemadeattheendofanaccountingperiod(amonth,aquarterorayear)soastopreparefinancialstatementsforthenextaccountingperiod.Theyareusedtoconfirmthatrevenuesandexpenseshavebeenclosedproperly.Besides,closingentrieswillbemadeinanenterprisewhenittransfersitsfinancialinformationtoanotherenterprisebecauseofbankruptcyoramalgamation.上一页下一页返回Lesson4AccountBooksandPropertyInspectionPropertyInspectionIntheaccountingsystem,propertyinspectionisanecessaryprocedure.Itisaprocesswhereabusinessphysicallycountsitsinventoryandcashandchecksitsbankdeposits,accountspayableandliabilitiessoastocheckwhetherthebookkeepingamountcoincideswiththerealamount.Differentinspectionmethodswillbeappliedtodealingwithdifferentinspectionobjects.Aphysicalinventoryisoftenemployedtoinspectcashonhandatthebeginningorendofabusinessday.Thecashiermustbepresentonthespottocheckwhethertherealinventoriesconformtothecashjournals.上一页下一页返回Lesson4AccountBooksandPropertyInspectionIfaninventoryprofitorlossappears,thedetailednumberofthemmustbecalculatedimmediately.Besides,furthereffortsshouldbemadeinsortingoutIOUnotes,receipts,reservesinexcessoflimits,long-termloansandshort-termsloans.Whenthephysicalinventoryisover,therelatedresultsshouldbefilledintheCashInventoryReport(seeTable1-6).上一页返回Lesson5AssetsAssetsaretheeconomicresourcescollectedbytheenterprisethroughvariousfinancingchannels.Examplesofassetsincludecash,bankdeposits,rawmaterials,fixedassets,intangibleassets,etc.Assetsarenormallydividedintotwomajorcategories:currentassetsandlong-termassets(ornon-currentassets).1.CurrentAssetsCurrentassetsaretheassetsthatwillbeconvertedintocashorliquidatedwithinoneyear(oroneyear)oroneoperatingperiod(longerthanoneyear).Theyarealsoanindispensablepartforabalancesheet.Cashonhand,bankdeposits,accountsreceivable,notesreceivable,tradingfinancialassets,inventoriesallbelongtocurrentassets.下一页返回Lesson5Assets1)CashonhandCashonhandisthemoneywhichiskeptbycashiersintheenterprise'sfinancialdepartment.Foranenterprise,itisthemostliquidassetandisnotusedtogenerateprofits.Therearemanyregulationsstipulatedbylawsoverthemanagementofcash,clearlyclarifyingtheoperatingscope,maximumamount,andkeepingtimeofcash.Infact,mostcashreceiptsandpaymentsarerealizedincheck.Forexample,onJanuary30,2009,anenterprisemadeachecktowithdraw10,000Yuanfromthebankfortheaccruedsalaries.Thistransactionwillberecordedasbelow:上一页下一页返回Lesson5AssetsDebit:Cashonhand10,000Credit:Bankdeposit10,000Alargenumberofenterprisesagreethatitisinconvenienttowritechecksforsmallamountpayment.Soapettycashfundisestablishedtosolvethisproblem.Thedepartmentwhichappliesformoneyallocationshouldatfirstgiveafixedscopeforthereservefundbasedonitsactualneedsandthetotalfundamountinpettycashreceiptsshouldbehonestlyreportedtorelatedfinancialdepartmentinordertoensurethefundisbeingaccountedforproperly.上一页下一页返回Lesson5Assets2)BankdepositsThebankdepositisthemoneywhichanenterpriseputsintoabankorotherfinancialinstitutions.Thestateclearingsystemrequiresthateachenterpriseshouldopenanaccountinabankforwithdrawing,depositingandtransferringtransactions.Therearemanyregulationsoverthedepositmanagement.Forexample,bankaccountsshouldbeopenedforbudgetaryfundsandextra-budgetaryfundsrespectively;eachenterpriseisonlyallowedtoopenaprimaryaccountinacertainbankwhileotheraccountsareregisteredassubsidiaryaccounts;eachenterpriseisforbiddentorentortransferitsaccounttoothercompaniesorindividuals.上一页下一页返回Lesson5AssetsEachbankreceiptorpaymentmustbeclearlyclarifiedinordertoavoidillegaltransactions;eachenterprisemustn'tissueinvalidnotesorpost-datedchecks;greatattentionshouldbeattachedtoaccountchecking.Indailypractices,bankreceiptsandpaymentsshouldberecordedintoanenterprise'sbook.Whatismore,thecashiershouldrecordbankdepositjournalsinachronologicalorderbasedonaccountdocumentseveryday.Attheendofmonth,anexaminationshouldbemadebetweenbankdepositsjournalsandbankstatements.Ifadiscrepancyappears,effortsshouldbemadetofigureoutthereasonandadjustingentriesshouldbeconductedaccordingly.上一页下一页返回Lesson5Assets3)AccountsreceivableAccountsreceivablerefertotherightthattheenterprisechargescustomersforprovidingproductsorserviceswithaperiodoftwomonths,orayearatmost.Accountsreceivablearebasedontradecredit,representingacreditor'srightwhichaccompaniesthesalesactivities.Theamountinaccountsreceivableiscloselyrelatedtotherevenueamount.Generallyspeaking,theyarerecordedintheactualtradingprices,containinginvoiceprices,andfreightprepaid.Itmustberecognizedthatthereisariskthatsomedebtorswillfailtopaytheirdebtsduetosomeparticularreason.上一页下一页返回Lesson5AssetsSothedebtsmaybeuncollectable.Then"baddebts"occur.Thelossescausedbybaddebtsbecomealossforthebusiness,namely,theassetsimpairmentloss,andshouldberecordedasthecredittotheaccountcalledAllowanceforBadDebtswhichiscontraaccountforaccountsreceivable.Therearetwomethodstoestimatethebaddebts.Thefirstiscalleddirectwrite-offmethod.Underthismethod,baddebtsexpenseisdirectlyrecordedinanappropriateaccountatthepointwhenbaddebtsappear.Thesecondisnamedtheallowancemethod.ItiswidelyemployedinChinaatpresent.上一页下一页返回Lesson5AssetsItispreferredbecauseitmatchescollectionlosseswithrelatedsalesrevenuesintheperiod,thusmakingtheaccountsreceivableappearonthebalancesheetatanestimatedamount.4)InventoriesInventoriesarefinishedgoodsormerchandiseheldbyanenterpriseforsaleintheordinarycourseofbusiness,orworkinprogressintheprocessofproductionforsuchsale,orintheformofmaterialsorsuppliestobeconsumedintheproductionprocessorintherenderingofservices.Inventoryisdifferentfromfixedassets,fortheformerisjusttemporarilyheldtowaitforafinalsale.上一页下一页返回Lesson5AssetsInamanufacturingfirm,inventoryiscomposedofrawmaterials,finishedgoods,workinprocess,andetc.2.Long-termAssetsAssetsarecomposedofcurrentassetsandnon-currentassets.Thedifferencebetweenthemisthatthecurrentassetswillbeconvertedintocashorusedinoperationwithinayearoranoperatingcycle,butthenon-currentassetsarenotexpectedtobefullyconsumedwithinthatperiod.Non-currentassetsconsistoffixedassets,intangibleassets,andlong-termequityinvestment,etc.上一页返回Lesson6MethodsforAccountingInventoryCostGenerallyspeaking,theinventoryispricedaccordingtoitscost.Butintherealworld,thecostofthesameitemchangesconstantlywithinanoperatingperiod.Themethodaccountingforinventorycostdirectlyaffectsthefinancialresult.Herewewillintroducefourmethodstodeterminetheinventorycost.Suppose,atthebeginningofJuly,2003,anenterprisehas200unitsofacertainmaterialwhichispriced4yuanperunit.SeeTable1-7.Now,wearegoingtodeterminethecostofgoodssoldforthisenterprisebyemployingdifferentmethods.1.First-in,First-out(F1F0)Method下一页返回Lesson6MethodsforAccountingInventoryCostFirst-in,first-out(FIFO)methodisbasedontheassumptionthatcostsshouldbechargedintheorderinwhichtheywereincurred.Underthismethod,wecancalculatethecostofgoodssoldaccordingtothelistedquantityandunitcost.InaccordancewithTable1-7,wecandrawthematerialsubsidiaryledgerasfollows(seeTable1-8).2.Weighted-AverageMethodWeighted-averagemethodisalsocalledweighted-averageperiodicinventorymethod(usuallyamonth).Theweightedaverageunitcostisusedindeterminingthecostofgoodssoldandtheendinginventorycost.AverageUnitCost=(BeginningInventoryCost+PurchaseCost)/(BeginningInventoryUnits+PurchaseUnits)上一页下一页返回Lesson6MethodsforAccountingInventoryCostCostofGoodsSold=AverageUnitCostXUnitsAvailableforSaleUnderthismethod,itisrequiredtorecordintheledgerthequantity,theunitcost,andtheamountofthepurchasedinventories.Itisnotnecessarytokeeptrackofthespecificitemssoldexceptthequantity,forthecostofgoodssoldandtheendinginventorycostwillbeaddedtotheledgerattheendofthemonthwhentheaverageunitcostiscalculated.InaccordancewithTable1-7,wecandrawthematerialsubsidiaryledgerasfollows(seeTable1-9)undertheweighted-averagemethod.上一页下一页返回Lesson6MethodsforAccountingInventoryCostTheadvantageofthismethodisthatithasgreatlysimplifiedthecostcalculationwork,sincetheaverageunitcostisonlycalculatedonceattheendofamonth.Ashortcomingofthismethodisthatchangesincurrentcostsofinventoryareconcealed.Soitisnothelpfulfortheinventorymanagement,andespeciallywhentheunitcostwitnessesadramaticchange,thecalculatedcostwillshowagreatdeviationfromtheactualcost.Therefore,thismethodisusuallyappliedtothevaluationofinventorywhoseunitofcostdoesn'tvaryalot.3.Moving-AverageMethodMoving-averagemethod,alsocalledweighted-averageperpetualmethod,involvesthecomputationofaveragecostofallunitsininventoryateverypurchase.上一页下一页返回Lesson6MethodsforAccountingInventoryCostTheaverageunitcostisobtainedbydividingthetotalcostofgoodsavailableforsale(BeginningInventoryCost+PurchaseCost)bythetotalnumberofgoodsavailableforsale(BeginningInventoryUnits+PurchaseUnits):AverageUnitCost=(BeginningInventoryCost+PurchaseCost)/(BeginningInventoryUnits+PurchaseUnits)CostofGoodsSold=AverageUnitCostXUnitsAvailableforSaleUnderthismethod,thedetailedinformationforeachtransactionisrecorded,includingthequantity,unitcost,andamount.InaccordancewithTable1-7,wecandrawthematerialsubsidiaryledgerasfollows(seeTable1-10)underthemoving-averagemethod.上一页下一页返回Lesson6MethodsforAccountingInventoryCostThismethodissuitableforthoseenterpriseswhoseinventoriesandpurchasesarerelativelyfewerorthosewhichhaverealizedaccountingcomputerization.4.SpecificIdentificationMethodSpecialidentificationmethodrequiresthattheindividualcostofactualpurchasedorproducedshouldbechargedagainstrevenueascostofgoodssold.Underthismethod,thecostflowexactlyparallelsthephysicalflowofmerchandise.上一页返回Lesson7Liabilities,Owners'Equity,Revenues,ExpensesandProfits1.CurrentLiabilitiesCurrentliabilitiesrepresentthedebtswhichmustbepaidoffbycurrentassetsornewcurrentliabilitieswithinayearoranoperatingperiod(longerthanayear).Examplesofcurrentliabilitiesareaccountspayable,notespayable,andtaxespayable,etc.Accountspayablerefertomaterials,merchandisesorserviceswhicharepurchasedoncredittermsandnotpaidforbythebalancesheetdate.Andtheaccruedwages,taxespayableandotheritemspayablearelistedinappropriateaccountsascurrentliabilities.2.Long-termLiabilities下一页返回Lesson7Liabilities,Owners'Equity,Revenues,ExpensesandProfitsLong-termliabilitiesaredebtswhichwillberedeemedafterayearoranoperatingcyclelongerthanayear.However,anobligationpreviouslyclassifiedaslong-termbutnowduewithinoneyearshouldbereclassifiedasacurrentliabilityinbalancesheet.Typicalexamplesoflong-termliabilitiesarebondspayable.Mostbond-relatedtransactionsarecompletedinstockexchanges.Bondsareissuedtothegeneralpublicthroughtheintermediaryofaninvestmentbankerorotherfinancialinstitutions.Thepriceofabondisusuallydeterminedbythecouponrate(theinterestratespecifiedinthebondindenture)andthemarketrateofinterest:①Bondsareissuedatparvaluewhenthecouponratecoincideswiththemarketrateofinterest.上一页下一页返回Lesson7Liabilities,Owners'Equity,Revenues,ExpensesandProfits②Bondsareissuedatapremiumwhenthecouponrateexceedsthemarketrateofinterest;③Bondsareissuedatadiscountwhenthecouponrateisbelowthemarketrateofinterest.3.Owners'EquityOwners'equity,sometimesreferredtoasnetassets,istheownershipintheassetsofabusinessafterdeductingitsliabilities.Itrepresentstheclaimsofowners(orstockholders)aftercreditorsmakeclaimsfromtotalassets.Anditmainlyincludesfourparts:paid-incapital,capitalreserve,surplusreserveandundistributedprofit.Surplusreserveandundistributedprofitarecollectivelyreferredtoasretainedearnings.上一页下一页返回Lesson7Liabilities,Owners'Equity,Revenues,ExpensesandProfits4.RevenuesRevenuesaretheeconomicresourcesflowingintoabusinessasaresultofoperationalactivities(suchasprovidinggoodsorservicesortransferassetstoothereconomicentities).Revenueshavenothingtodowiththeprofitsgeneratedbyowners'equityinvestment.Salesrevenue,servicerevenueandinterestrevenuearesubdivisionsofrevenues.However,thecollectionsgatheredthroughtheintermediarycannotbetakenasrevenues.Forexample,anautomobilemanufacturerreceivesitsprimeoperatingrevenuesbysellingautomobiles.Butatrainticketoutletcannotrecognizethesalesofticketsasitsrevenues.上一页下一页返回Lesson7Liabilities,Owners'Equity,Revenues,ExpensesandProfits5.CostsandExpensesExpensesaretheoutflowofabusiness'seconomicresourcesresultingfromtheoperationalactivities(suchassellinggoods,providingservicesorexchangingassets)exceptthosethatcomefromowners'distributedprofits.Costsarethevariouslossesincurredwhenabusinessismanufacturingproductsorrenderingservices.Firstofall,weshouldfigureoutthedifferencebetweenexpenseandcost.Thefeesrelatedtoproductionarecalledproductioncost,socostiscloselyassociatedwiththespecificproductsinabusiness.上一页下一页返回Lesson7Liabilities,