立信《会计专业英语》课件Lesson-Eight.ppt

1、Lesson Eight,Adjusting Procedures,New words, Phrases and Special Terms,Trial balance 试算平衡表 A listing of the balances on all the accounts of an organization with debit balances in one column and credit balances in the other. If the processes of double-entry book-keeping have been accurate, the totals

2、 of each column should be the same.,New words, Phrases and Special Terms,If they are not the same, checks must be carried out to find the discrepancy. The figures in the trial balance after some adjustments, e.g. for closing stocks, prepayments and accruals, depreciation, etc., are used to prepare t

3、he final accounts (profit and loss account and balance sheet).,New words, Phrases and Special Terms,Apportionment 分摊 （cost apportionment 成本分摊） Charging a proportion of a cost to a cost centre or cost unit because the cost centers or cost units are not directly incurring those costs although they sha

4、re in incurring them.,New words, Phrases and Special Terms,A basis of apportionment is always required. For example, local authority business rates for premises are seldom incurred by individual cost centers, therefore floor area is often used as a basis of apportionment to share these costs between

5、 appropriate cost centers.,New words, Phrases and Special Terms,Outlay cost 支出成本 The expenditure incurred as the initial cost of a project or activity. The outlay cost may include both capital expenditure and expenditure an working capital, such as stocks of raw material.,New words, Phrases and Spec

6、ial Terms,Deferred credit 递延贷项 （deferred liability） Income received or recorded before it is earned, under the accruals concept. The income will not be included in the profit and loss account of the period but will be carried forward on the balance sheet until it is matched with the period in which

7、it is earned.,New words, Phrases and Special Terms,A common example of a deferred credit is a government grant. The grant is shown as a separate item or under creditors in the balance sheet, and an annual amount is transferred to the profit and loss account until the deferred credit balance is broug

8、ht to nil.,New words, Phrases and Special Terms,Accrual 应计 Accrued charge 应计费用 Accrued expense 应计费用 Accrued liability 应计负债,New words, Phrases and Special Terms,An estimate in the accounts of a business of a liability that is not supported by an invoice or a request for payment at the time the accoun

9、ts are prepared. An accrual is a current liability on the balance sheet and will be charged under expenses in the profit and loss account.,New words, Phrases and Special Terms,Expenses are accrued as set out in the accruals concept outlined in Statement of Standard Accounting Practice 2. An example

10、of an accrual would be telephone expenses, which are billed in arrears. At the end of the accounting period, if no bill has been received, an estimate (based on past bills) would be made and credited to an accruals account; the corresponding debit would be made to the telephone expense account.,New

11、words, Phrases and Special Terms,The telephone expense account is then cleared to the profit and loss account.,New words, Phrases and Special Terms,Accrued revenue (accrued income) Income that has been earned during an accounting period but not received by the end of it. Accrued income is dealt with

12、 as set out in the accruals concept outlined in Statement of Standard Accounting Practice 2.,New words, Phrases and Special Terms,For example, interest may have been earned but not received; it should be included in the profit figure (subject to the overriding prudence concept) and classified as a c

13、urrent asset on the balance sheet.,New words, Phrases and Special Terms,Periodic inventory （periodic stocktaking) 定期盘点 The accounting or evaluating of the stock held by an organization at the end of an accounting period. Movement of stock is restricted during the period of stocktaking.,Sentences,Cle

14、arly, if the income statement is to portray a realistic net income figure based upon accrual accounting, all revenues earned during the period and all expenses incurred must be shown.,Sentences,The adjusting step occurs after the journals have been posted and a trial balance of ledger accounts has b

15、een taken, but before financial statements are prepared.,At the end of each accounting period , the estimated portion of the outlay that has expired during the period or that has benefited the period must be transferred from an asset account to an expense account.,Sentences,Sentences,It is necessary to make adjusting ent