会计英语教程

AccountingEnglishChapter1

Chapter1GeneralIntroductiontoAccounting

LearningObjectives:adheretoethicsinaccountingpracticegainsomeknowledgeaboutaccountingassumptionsandaccountingprincipleshaveagoodcommandofaccountingelementsandaccountingequationbefamiliarwiththetermsandusefulexpressionsinthischapter会计英语

AccountingEnglishGeneralIntroductiontoAccountingAccountingElements&AccountingEquationAccountingAssumptions&AccountingPrinciplesEthicsinAccounting会计英语

AccountingEnglishPre-classTaskJohnCruseinvested$50,000incashtoopenadentalclinic.Hehiredthreeemployees.Onthefirstday,theclinicpurchased$15,000dentalequipmentfromthesupplieroncredit.Thisequipmentprovidedteethbleachserviceforacustomerandreceived$500incash.►Couldyoupointouttheaccountingelementsinvolvedintheaboveinformation?►Whichbelongtoassets?Whichbelongtoliabilities?Whichbelongtoowner’sequity?会计英语

AccountingEnglish

IntroductoryRemarks

Accountingisoftenregardedas“thelanguageofbusiness”.

Oneofthemostimportantfunctionsofaccountingistoaccumulateandreportfinancialinformationtoitsinterestedusers.Anotherimportantfunctionofaccountingsystemistosupplyusefulinformationforthosemakingeconomicdecisions,whichinvolvesplanning,controlandevaluation.会计英语

AccountingEnglishSection1

AccountingAssumptionsandAccountingPrinciplesAccountingAssumptions◆EconomicEntityAssumptionInthisassumption,theactivitiesofanentityarekeptseparateanddistinctfromtheactivitiesofitsownerandallothereconomicentities.

◆Going-concernAssumptionInthisassumption,thecompanyisassumedtocontinueinoperationlongenoughasagoing-concern.

会计英语

AccountingEnglishAccountingAssumptions◆MonetaryUnitAssumptionInthisassumption,onlytransactiondataexpressedinmoneycanbeincludedintheaccountingrecordsandtheunitofmeasureremainsrelativelystableovertimeintermsofpurchasingpower.

◆PeriodicityAssumptionTheenvironmentwhereaccountingoperatesrequiresthateconomicactivitiesofabusinessshouldbedividedintorelativelyshortperiods.会计英语

AccountingEnglishAccountingPrinciples

AccountingPrinciples

Thebasicprinciplesfollowedbyaccountantsinrecordingbusinesstransactionscanbemainlydividedinto6categories:

◆HistoricalCostPrinciple

◆RevenueRecognitionPrinciple

◆MatchingPrinciple

◆DisclosurePrinciple

◆ObjectivityPrinciple

◆ConsistencyPrinciple会计英语

AccountingEnglishSection2AccountingElementsandAccountingEquation

AccountingElements

Accountingelementsconsistofassets,liabilities,owner’sequity,revenues,expensesandprofit.

◆AssetsAssetsareeconomicresourcesownedorcontrolledbyaspecificentityasaresultofpasttransactionsoreventsandmustbeabletobringeconomicbenefits.

◆LiabilitiesLiabilitiesaredebtsofabusinessarisingfrompasttransactionsorevents.Liabilitieswillleadtofuturedecreaseofeconomicbenefitsandcanbepaidoffbytransferringassets,providingservices,orborrowingnewliabilities.会计英语

AccountingEnglishAccountingElements

◆Owner’sEquityOwner’sequity,alsoknownasthenetassetsofabusiness,referstotheeconomicbenefitofownersintheassetsoftheenterprise,itisequaltoassetsminusliabilities.

◆RevenuesRevenuesrefertothegrossinflowsofeconomicbenefitsresultingfromsellinggoods,providingservices,transferringassetsorothereverydayactivities.会计英语

AccountingEnglishAccountingElements

◆ExpensesExpensesarethedecreaseinowner’sequityofeconomicbenefitsarisingfromthecourseofordinarybusinessactivities.

◆ProfitProfitwhichisoftencallednetincomeistheoperatingresultofanenterpriseoveraspecificaccountingperiod,itisthebalanceofallrevenuesafterdeductingtherelatedexpenses.会计英语

AccountingEnglishAccountingEquation

◆Basicaccountingequation:

Assets=Liabilities+Owner’sEquity

◆ExpandingtheAccountingEquation:

Profit=Revenues-ExpensesAssets=Liabilities+Owner’sEquity+(Revenues-Expenses)会计英语

AccountingEnglishAccountingEquationTheEffectsofEconomicTransactionontheAccountingEquationExample:Transaction1:Supposeacompanyownsassetsof$28,000,borrows$15,000fromacreditor,andinvestsbytheowner$13,000,thustheentrymadeintheaccountingequationshouldbe:Assets=Liabilities+Owner’sEquity$28,000=$15,000+$13,000会计英语

AccountingEnglishAccountingEquation

Transaction2:Ifthecompanypaid$500bankdeposittopurchaseacomputer.Theentrymadeintheaccountingequationshouldbe:Assets=Liabilities+Owner’sEquity$28,000=$15,000+$13,000

+$500-$500$28,000=$15,000+$13,000会计英语

AccountingEnglishAccountingEquation

Transaction3:Supposethecompanypurchased$300officesuppliesoncredit.Theentrymadeintheaccountingequationshouldbe:Assets=Liabilities+Owner’sEquity$28,000=$15,000+$13,000

+$300

+$300$28,300=$15,300+$13,000会计英语

AccountingEnglishAccountingEquationTransaction4:Thecompanypaid$800fortelephonefees.Assets=Liabilities+Owner’sEquity$28,300=$15,300+$13,000

-$800

-$800$27,500=$15,300+$12,200会计英语

AccountingEnglishAccountingEquationTransaction5:Thecompanyreceived$4,000forprovidingprofessionalservices.Assets=Liabilities+Owner’sEquity$27,500=$15,300+$12,200+$4,000

$4,000$31,500=$15,300+$16,200TotalAssets=TotalLiabilities+TotalOwner’sEquity$31,500=$15,300+$16,200会计英语

AccountingEnglishSection3EthicsinAccounting

◆Integrityandobjectivityaretwokeyelementsofethicalbehaviorforaprofessionalaccountant.

◆Otherelementsofethicalbehaviorincludeindependence,competenceandacceptanceofanobligationtoservethebestinterestsoftheemployer,theclientandpublic.会计英语

AccountingEnglishSpecialTermsandUsefulExpressionscriterion标准stockholder股东advisor顾问creditor债权人，债主；［会］贷方evaluation评价，评估reimbursement报销，补偿globalization全球化springup涌现budgetaryaccounting预算会计convention会议，惯例，规矩transaction交易会计英语

AccountingEnglishSpecialTermsandUsefulExpressionseconomicentityassumption经济实体假设fictional

虚构的distinguish

区分individual

个人distinction

区别going-concernassumption

持续经营假设indefinitely

无限期地liability

负债会计英语

AccountingEnglishSpecialTermsandUsefulExpressionsamortize

分期偿还（债务）depreciation

折旧accrue

增加，获得，（利息等）自然增值subsidiary

子公司，附带的periodicityassumption

会计分期假设acquisitionprice

购置价格revenuerecognitionprinciple收入实现原则accrualaccounting

权责发生制会计disclosure

揭露，披露会计英语

AccountingEnglishSpecialTermsandUsefulExpressionsobjectivity

客观性verifiable

能证实的consistency

一致性owner’sequity

所有者权益ledger

分类账，账簿currentassets

流动资产fixedassets

固定资产intangibleassets无形资产notepayable

应付票据formula

公式会计英语

AccountingEnglishSpecialTermsandUsefulExpressionsequation方程式，等式ethic伦理，（复数）行为准则attachimportanceto重视integrity完整性impartiality公平，公正，不偏袒competence胜任，能力legislation立法auditor审计师FinancialAccountingStandardsBoard(FASB)

财务会计标准委员会会计英语

AccountingEnglishKeytoExercises1.Translations.(1)fixedassets

(2)longtermliabilities(3)financialstatement(4)consistencyprinciple(5)goingconcernassumption(6)onpurpose(7)重视(8)

毛利(9)所有者权益

(10)预算会计(11)总公司(12)会计等式会计英语

AccountingEnglishKeytoExercises2.Fillintheblanksaccordingtowhatyouhavelearnedinthischapter.(1)liability,revenues,profit.(2)

economicresources(3)

currentassets(4)Liabilities,Owner’sEquity(5)

equal(6)Going-concern(7)Owner’sequity(8)Liabilities3.Choice

1-5DAACB6-10DCACB会计英语

AccountingEnglishKeytoExercises4.Analysisofeconomictransactions

TransactionsAssetsLiabilitiesOwner’sEquityIncreaseDecreaseDecreaseIncreaseDecreaseIncrease110,000

10,0002500500

3

800

800

42,000

2,000

5

2,5002,500

63,000

3,000

Totals$11,700$2,500$9,200会计英语

AccountingEnglishThankYou!AccountingEnglishChapter2

Chapter2

AccountingCycle

LearningObjectives:befamiliarwiththetermsandusefulexpressionsinthischapterhaveagoodcommandofT-accounts,journals,andledgergainsomeknowledgeabouttheproceduresofaccountingcycledevelopskillsinadjustingandclosinganaccount会计英语

AccountingEnglish

AccountingCyclePre-classTask

A-ShineCompanysold10tonsofmaterial,amountto$20,000,withVAToutputtax$3,400.Theaccountingdepartmentreceivedacheckfromthepurchasingcompanyanddeposited$23,400intothebank.

►Inthiseconomictransaction,howistheaccountinginformationrecorded?

►Whatshouldtheaccountantdowiththesourcedocument?

►Andwhatistheaccountingcycleaboutthiseconomictransaction?会计英语

AccountingEnglishIntroductoryRemarksDefinition

Accountingcycleisasequenceofstepsthatoccurinorderoveranestablishedperiodoftimetorecord,classify,andsummarizeaccountingdata,whichistypicallythelengthofonemonth,aquarterofayear,orawholeyear.会计英语

AccountingEnglishIntroductoryRemarksTheaccountingcycleisgenerallymadeupofthefollowingsteps:1.Analyzetransactionsandbusinessdocuments.2.Journalizetransactions.3.Postjournalentriestoaccounts.4.Determineaccountbalancesandprepareatrialbalance.5.Prepareaworksheet.6.Preparefinancialstatements.7.Journalizeandpostadjustingentries.8.Makeclosingentries.9.Prepareapost-closingtrialbalance.10.Makereversingentries.会计英语

AccountingEnglishSection1T-AccountsandDouble-entrySystemT-Accounts

T-Account,whichisthesimplestformofaccount,issocalledjustbecauseitlookslikethecapitalizedletterT.TitleofAccount

LeftorDebitSide

RightorCreditSide

AllT-accountsshouldadheretothefollowingaccountingequation:

Assets=Liabilities+Owner’sEquity会计英语

AccountingEnglishDouble-entrySystemDouble-entrySystem

Double-entrysystemisthefoundationofaccountingandisalsoregardedastheheartofmodernaccounting,whereeachtransactionaffectstwoseparateaccounts,oneonthedebitsideandtheotheronthecreditside.Double-entrysystemadherestotwoimportantrules:

Assets=Claims(LiabilitiesandOwner’sEquity)

TotalDebits=TotalCredits会计英语

AccountingEnglishDouble-entrySystemDr.+

(Increases)

Cr.－

(Decreases)AssetsandExpensesLiability,Owner’sEquity,RevenuesandProfitDr.+

(Decreases)Cr.－(Increases)

会计英语

AccountingEnglishDouble-entrySystemItcanalsobeillustratedasinExhibit2-3:AccountTypeDebitCreditAssetsIncreaseDecreaseLiabilitiesDecreaseIncreaseOwner’sequityDecreaseIncreaseRevenuesDecreaseIncreaseExpensesIncreaseDecreaseExhibit2-3会计英语

AccountingEnglishDouble-entrySystemExample2.1

Supposethatacompanypurchasesafilecabinetfor$300,notpaid.Theeffectsofthiseconomictransactionare:Theasset(fixedassetaccount)increasedby$300,andatthesametime,theliability(accountspayableaccount)increasedbythesameamount.

FixedAssetAccountsPayableDr.+$300Cr.－Dr.

－Cr.

+$300Assets=Liabilities+Owner’sEquity+$300

+$300会计英语

AccountingEnglishSection2JournalsandLedgerJournalsThejournalisalsocalledthebookoforiginalentry.Anaccountingjournalmayfallintotwotypes:ageneraljournaloraspecialjournal.DefinitionAgeneraljournalisarelativelysimplerecordwhereanytypeofbusinesstransactionscanberecorded.Aspecialjournalisusedtorecordthemostfrequenttransactionsinabusiness.会计英语

AccountingEnglishGeneralJournalExample2.2

Forillustrationofthegeneraljournal,wewillentersometransactionsdataforJamesAgencyCompany(alawagency)inJanuary,2014intogeneraljournal(seeExhibit2-4).

Transaction1:OnJanuary1st,theownerofJamesAgencyinvested$20,000cashtorunthebusiness.

Transaction2:OnJanuary1st,rentanoffice,atotalof$5000cashwaspaidinadvancefortwoyears.

Transaction3:OnApril4th,purchasedofficesupplies$400incash.

Transaction4:OnApril5th,purchasedofficeequipment$1,800,notpaid.会计英语

AccountingEnglishGeneralJournal

Transaction5:OnJuly1st,JamesAgencyCompanysignedupacontractwithHengdaImport＆ExportTradeCompanytoperformconsultingservice,andthetermofthiscontractwasoneyear.JamesAgencyCompanyreceivedanadvancedcashpaymentintheamountof$8000.

Transaction6:OnAugust25th,tobecommissionedincourtbyaclientforthatthecompanyreceived$2,000cash.

Transaction7:OnSeptember30th,JamesAgencyCompanyloanedJMKCompany$9000forinvesting.JMKCompanyissuedaoneyearnote,withanannualinterestrateat8%.

Transaction8:OnSeptember30th,receivedatelephonebillof$900.会计英语

AccountingEnglishGeneralJournalDateGeneralJournalYear2014AccountTitlesandExplanationPostRef.DebitCreditJan.1Cash

20,000

JamesAgency,Capital

20,000

1PrepaidRent

5,000

Cash

5,000Apr.4OfficeSupplies

400

Cash

400Apr.5OfficeEquipment

1,800

AccountsPayable

1,800Jul.1Cash

8,000

UnearnedRevenue

8,000

Exhibit2-4会计英语

AccountingEnglishGeneralJournal会计英语

AccountingEnglish续表DateGeneralJournalYear2014AccountTitlesandExplanationPostRef.DebitCreditAug.25Cash

2,000

ConsultingRevenue

2,000Sept.30NotesReceivable

9,000

Cash

9,000Sept.30TelephoneExpense

900

AccountsPayable

900Ledger

General

ledgerandsubsidiary

ledger

Therearetwotypesofledgers:generalandsubsidiary.Ageneralledgercontainsallofthebalancesheetandincomestatementaccounts.ItcanbeshowninExhibit2-5.Whileasubsidiaryonegroupstogetherquiteafewindividualaccountswithcommoncharacteristicsintoaseparateledger.ItcanbeshowninExhibit2-6.

会计英语

AccountingEnglishLedgerExhibit2-5

GeneralLedgerAccountTitle:JamesAgency,Capital

FolioNo:

DateDescriptionsP.R.DebitCreditDr.orCr.BalanceJan.1Investmentinthebusiness

20,000Cr.20,000

会计英语

AccountingEnglishLedgerExhibit2-6

SubsidiaryLedgerGen.Led.AccountTitle:Sub.Led.AccountTitle:

FolioNo:

DateDescriptionsP.R.DebitCreditDr.orCr.Balance

会计英语

AccountingEnglishSection3TrialBalance

Definition

Atrialbalanceisalistofallthegeneralledgeraccounts(bothrevenueandcapital)withtheirrespectivedebitandcreditbalances,itisapartofthedouble-entrybookkeepingsystemandusestheclassic“T-account”formatforpresentingvalues.

Exhibit2-7showsthetrialbalanceofJamesAgencyCompanyonDecember31,2014.会计英语

AccountingEnglishTrialBalanceExhibit2-7

JamesAgencyCompany

TrialBalance

December31,2014Account

DebitCreditCash

15,600Notesreceivable

9,000Prepaidrent

5,000Officesupplies

400Officeequipment

1,800Accountspayable

2,700Unearnedrevenue

8,000Consultingrevenue

2,000Telephoneexpense

900JamesAgency,capital

20,000

Total

32,700

32,700会计英语

AccountingEnglishSection4AccountingAdjustments

Accountingadjustmentsoccurafterthejournalshavebeenpostedbutbeforefinancialstatementsareprepared.Therearefivetypesofadjustingentries:

◆accruals;

◆deferrals;

◆estimates;

◆re-evaluations;

◆errorcorrections..会计英语

AccountingEnglish

AccountingAdjustments会计英语

AccountingEnglishExample2.3Adjustment1:

Transaction2:OnJanuary1st,rentanoffice,atotalof$5000cashwaspaidinadvancefortwoyears.

Dec.31st

Dr.RentExpense2,500

Cr.PrepaidRent

2,500

AccountingAdjustments会计英语

AccountingEnglishAdjustment2:

Transaction5:OnJuly1st,JamesAgencyCompanysignedupacontractwithHengdaImport＆ExportTradeCompanytoperformconsultingservice,andthetermofthecontractwasoneyear.JamesAgencyCompanyreceivedanadvancedcashpaymentintheamountof$8000.

Dec.31st

Dr.UnearnedRevenue4,000

Cr.ConsultingRevenue

4,000

AccountingAdjustments会计英语

AccountingEnglishAdjustment3:

Transaction7:OnSeptember30th,JamesAgencyCompanyloanedJMKCompany$9000forinvesting.JMKCompanyissuedaoneyearnote,withanannualinterestrateat8%.

Dec.31st

Dr.InterestReceivable180

Cr.InterestRevenue

180AccountingAdjustments

TheExhibit2-8showstheadjustedtrialbalanceofJamesAgencyCompanyOnDecember31,2014.会计英语

AccountingEnglishAccountingAdjustments会计英语

AccountingEnglishExhibit2-8

JamesAgencyCompany

AdjustedTrialBalance

December31,2014Account

Debit

CreditCash

15,600Notesreceivable

9,000Interestreceivable

180Prepaidrent

2,500Officesupplies

400Officeequipment

1,800Accountspayable

2,700Unearnedrevenue

4,000Consultingrevenue

6,000Interestrevenue

180Telephoneexpense

900Rentexpense

2,500JamesAgency,capital

20,000

Total

32,880

32,880Section5ClosinganAccount会计英语

AccountingEnglish

Closingsetsthebalanceoftherevenueandexpenseaccountsbacktozeroinordertomeasurethenetincomeinthenextaccountingperiod.Example2.4ClosingEntries1:

Jun.30

Dr.ConsultingRevenue6,000

InterestRevenue

180

Cr.RetainedEarnings

6,180Section5ClosinganAccount会计英语

AccountingEnglishClosingEntries2:

Jun.30

Dr.RetainedEarnings3,400

Cr.RentExpense

2,500

TelephoneExpense

900ClosingEntries3:

Jun.30

Dr.RetainedEarnings2,780

Cr.Distributions

2,780SpecialTermsandUsefulExpressionsaccountingcycle

会计循环classify

分类quarter

季度，四分之一，一刻钟procedure

程序up-to-date

最新的financialstatement财务报表adjust

调整consistof

由…组成会计英语

AccountingEnglishSpecialTermsandUsefulExpressionsadjustingentries

调整分录double-entry

复式记账法capitalized

大写的journalize

在日记中记录post

过账balance

余额，平衡trialbalance

试算平衡表respective

各自的，分别的会计英语

AccountingEnglishSpecialTermsandUsefulExpressionsnominal

名义上的，票面上的transfer

转移temporary

临时的permanent

永久的beabbreviatedas

缩写为backbone

骨干，支柱subsidiaryledger

明细分类账strike

达到，敲打deferral

延期会计英语

AccountingEnglishKeytoExercises1.Fillintheblanksaccordingtowhatyouhavelearnedinthischapter.(1)Accounttitle,creditside(2)left,decreases(3)Liabilities,Owner’sequity(4)balance(5)record,classify,summarize(6)sum会计英语

AccountingEnglishKeytoExercises2.Choosethecorrectanswer.

1-5BCACA

6-8BDC3.Judgethefollowingsentencesaretrue(T)orfalse(F).1-5FFFTF

6T会计英语

AccountingEnglishKeytoExercises4.Caseanalysis.

会计英语

AccountingEnglishDateGeneralJournalYear2014AccountTitlesandExplanationPostRef.DebitCreditApr.1RentExpense

1,000

Cash

1,000

5Cash

5,000

ServiceRevenue

5,000

8Equipment

3,000

Cash

500

NotesPayable

2,500

15AccountsPayable

2,800

Cash

2,800

18Cash

8,000

AccountsReceivable

8,000

20AccountsReceivable

3,000

ServiceRevenue

3,000

25OfficeSupplies

400

AccountsPayable

400

30SalaryExpense

5,000

Cash

5,000KeytoExercises

JMKCompanyTrialBalance

April30,2014AccountDebitCreditCash31,700AccountsReceivable4,000OfficeSupplies400Equipment3,000AccountsPayable

1,100NotesPayable2,500CommonStock

10,000RetainedEarnings23,500ServiceRevenue8,000RentExpense1,000SalaryExpense5,000

Total45,100

45,100

会计英语

AccountingEnglishThankYou!AccountingEnglishChapter3

Chapter3AssetsLearningObjectives:learntocalculatetheinventoryhaveagoodcommandofthefeaturesofeverykindofassetsgainsomeknowledgeaboutaccountingcurrentassetsandlong-termassetsbefamiliarwiththetermsandusefulexpressionsinthischapter

会计英语

AccountingEnglish

Pre-classTask

Pre-classTask

Besidesthecomputer,cash,andthetruckinthepictures,canyoulistsomeotherassetsinacompany?会计英语

AccountingEnglishIntroductoryRemarksDefinition

Assetsareeconomicresourcesownedorcontrolledbyaspecificentityasaresultofpasttransactionsorevents,whicharemeasurablebymoneyvalue.Thecharacteristicsofassets

1.Itcanbeownedorcontrolledbyanentity.

2.Itiscausedbythepasteconomictransactionsorevents.

3.Itcanbringfutureeconomicbenefitsintotheentity.会计英语

Accoun