立信《会计专业英语》课件lesson-sixteen.ppt

1、LESSON SIXTEEN,INVENTORY MEASUREMENT,NEW WORDS,PHRASES AND SPECIAL TERMS,Weighted average (weighted mean) 加权平均 An arithmetic average that takes into account the importance of the items making up the average. For example, if a person buys a commodity on three occasions, 100 tonnes at $70 per tonne, 3

2、00 tonnes at $80 per tonne, and 50 tonnes at $95 per tonne, the purchases total 450 tonnes; the simple average price would be (70+80+95）/3=$81.7. The weighted average, taking into account the amount purchased on each occasion would be: (10070)+(30080)+(5095)/450=$79.4per tonne,NEW WORDS,PHRASES AND

3、SPECIAL TERMS,Weighted average cost of capital (WACC) 加权平均资本 A method of establishing an organizations cost of capital by taking each source of funds from its balance sheet and assigning a required rate of return to each individual source. The amounts of each of the sources of funds are used as weig

4、hts applied to the required returns, and the total return is divided by the total weights to give the WACC expressed as a percentage.,NEW WORDS,PHRASES AND SPECIAL TERMS,First-in-first-out cost (FIFO cost)先进先出法 A method of valuing units of raw material or finished goods issued from stock based on us

5、ing the earliest unit value for pricing the issues until all the stock received at that price has been used up. The next latest price is then used for pricing the issues, and so on.,NEW WORDS,PHRASES AND SPECIAL TERMS,Because the issues are based on a FIFO cost, the valuation of closing stocks is de

6、scribed as being on the same FIFO basis. The method may also be used in process costing to value the work in process at the end of an accounting period.,NEW WORDS,PHRASES AND SPECIAL TERMS,Last-in-first-out cost (LIFO cost) 后进先出法 A method of valuing units of raw material or finished goods issued fro

7、m stock by using the latest unit value for pricing the issues until all the quantity of stock received at that price is used up. The next earliest price is then used for pricing the issues, and so on.,NEW WORDS,PHRASES AND SPECIAL TERMS,Because the issues are based on a LIFO cost, the valuation of c

8、losing stocks is described as being on the same LIFO basis. The method may also be used in process costing to value the work in process at the end of an accounting period. This method of costing is not normally acceptable for stock valuation in the UK.,NEW WORDS,PHRASES AND SPECIAL TERMS,Periodic in

9、ventory (periodic stocktaking) 定期盘点 The counting 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.,NEW WORDS,PHRASES AND SPECIAL TERMS,Perpetual audit (continuous stocktaking，continuous stock-check

10、ing, continuous inventory) 永续盘存制 A system of stocktaking designed to ensure that all the items of stock are physically counted and reconciled with the accounting records shown on the bin cards and the stock ledger within a specified period.,NEW WORDS,PHRASES AND SPECIAL TERMS,For example, a stocktak

11、ing team may be working continuously so that all items of stock are checked four times a year, when adjustment are made to the accounting records to adjust them to the physical stock. Continuous stocktaking is useful for determining the availability of each item of stock and establishing when stock levels reach reorder levels.,sentences,Proper income determination depends on the appropriate measurement of all assets; the higher the asset amounts, the higher the income that will be reported.,sentences,When prices for like items change during the accounting period, however, it is not alw