上海海事 外国会计选读 课件 chapter01.ppt

1、Chapter 1,Introduction to Accounting and Business,Nature of a Business The Role of Accounting in Business Profession of Accounting Accounting Principles Assets, Liabilities and Owners Equity Business Transactions and the Accounting Equation Financial Statements,Contents,Business 企业,A business 企业 is

2、an organization in which basic resources (inputs), such as materials and labor, are assembled and processed to provide goods or services (outputs) to customers.,Manufacturing Business 生产性企业,Types of Businesses,Merchandising Business 商业企业,Types of Businesses,Service Business 服务性企业,Types of Businesses

3、,There are three types of business organizations,Proprietorship (业主制企业) Partnership (合伙制企业) Corporation (股份有限公司),A proprietorship is owned by one individual.,Advantages Ease in organizing Low cost of organizing,Disadvantage Limited source of financial resources Unlimited liability,Joes,A partnership

4、 is owned by two or more individuals.,Advantages More financial resources than a proprietorship. Additional management skills.,Disadvantage Unlimited liability.,Joe and Martys,A corporation is organized under state or federal statutes as a separate legal entity.,Advantage The ability to obtain large

5、 amounts of resources by issuing stocks. Limited Liability,Disadvantage Double taxation.,J rent, $800; utilities, $450; and miscellaneous, $275.,Owners Liabilities + Equity,=,Bal.12,5001,35020,0001,35032,500,=,Accounts Chris Clark, Cash + Supplies + Land Payable Capital,Assets,f. NetSolutions paid $

6、950 to creditors during the month.,Owners Liabilities + Equity,=,Bal.8,8501,35020,0001,35028,850,f. 950 950,=,Accounts Chris Clark, Cash + Supplies + Land Payable Capital,Assets,g. At the end of the month, the cost of supplies on hand is $550, so $800 of supplies were used.,Owners Liabilities + Equi

7、ty,=,Bal.7,9001,35020,00040028,850,g. 800 800,=,Supplies expense,Accounts Chris Clark, Cash + Supplies + Land Payable Capital,Assets,h. At the end of the month, Chris withdrew $2,000 in cash from the business for personal use.,Owners Liabilities + Equity,Bal.7,90055020,00040028,050,h. 2,0002,000,Wit

8、h-drawal,=,=,Owners Equity,Effects of Transactions on Owners Equity,Accounting reports, called financial statements 财务报告, provide summarized information to the owner.,Financial Statements,Income statement损益表A summary of the revenue and expenses for a specific period of time. Statement of owners equi

9、ty业主权益变动表A summary of the changes in the owners equity that have occurred during a specific period of time. Balance sheet资产负债表A list of the assets, liabilities, and owners equity as of a specific date. Statement of cash flows现金流量表A summary of the cash receipts and disbursements for a specific period

10、 of time.,Fees earned,$7 500 00,Operating expenses:,Rent expense,$2 125 00,Wages expense,800 00,Supplies expense,450 00,Utilities expense,275 00,Miscellaneous expense,Total operating expenses,1 135 00,NetSolutions Income Statement For the Month Ended November 30, 2005,800 00,Net income$3 050 00,To t

11、he statement of owners equity,Chris Clark, capital, November 1, 2005,$ 0,NetSolutions Statement of Owners Equity For the Month Ended November 30, 2005,Less withdrawals 2 000 00 Increase in owners equity26 050 00 Chris Clark, capital, November 30, 2005$26 050 00,From the income statement,To the balan

12、ce sheet,Assets Liabilities,NetSolutions Balance Sheet November 30, 2005,Cash$ 5 900 00Accounts Payable$ 400 00 Supplies550 00 Owners Equity Land20 000 00Chris Clark, cap.26 050 00 Total liabilities and Total assets$26 450 00 owners equity$26 450 00,From the statement of owners equity,This balance s

13、heet presented using the account form帐户式,When the balance sheet displays the liabilities and owners equity below the assets, the report form报告式 is being used.,Cash flows from operating activities: Cash received from customers$ 7 500 00 Deduct cash payments for expenses and payments to creditors4 600

14、 00 Net cash flow from operating activities2 900 00 Cash flows from investing activities: Cash payment for acquisition of land(20 000 00 Cash flows from financing activities: Cash received as owners investment$25 000 00 Deduct cash withdrawal by owner2 000 00 Net cash flow from financing activities2

15、3 000 00 Net cash flow and Nov. 30, 2005 cash bal.$ 5 900 00,NetSolutions Statement of Cash Flows For the Month Ended November 30, 2005,Should match Cash on the balance sheet,),Statement of Cash Flows,Cash Flows from Operating ActivitiesThis section reports a summary of cash receipts and cash paymen

16、ts from operations.,Cash Flows from Investing ActivitiesThis section reports the cash transactions for the acquisition and sale of relatively permanent assets.,Cash Flows from Financing ActivitiesThis section reports the cash transactions related to cash investments by the owner, borrowings, and cas

17、h withdrawals by the owner.,The End,Chapter 1,Additional Assignment,1. Go to to locate the Home Depot annual report, and focus on the balance sheet Financial statement research What were the total assets shown on the most recent balance sheet, total liabilities and stockholders equity? Write the com

18、panys accounting equation as of the most recent balance sheet date, by filling in the dollar amounts. What was the form of balance sheet?,Additional Assignment (Contd),Understanding Transactions Ignore much of the detail on the balance sheet of the Home Depot Company, focusing on the following accounts: Cash, inventory, notes payable, accounts payable, and total stockholders equity. Explain how the transaction would affect the companys balance sheet using the accounts listed above. 1 Sold 1 million shares of common stock for