会计专业英语1-reporting entity

1、Reporting entity 1.Sole proprietorships 2.Partnerships 3.Corporations 1.Sole proprietorships 独资企业 an unincorporated business owned by a single person who is responsible for its liabilities and entitled to its profits. 对企业的债务和利润均负有责任的单个法 人。 EG： retail stores farms service businesses accounting The so

2、le proprietorship is the most common form of business organization in U.S. economy Sole partnership Advantage: Simplicity 简单 Disadvantage： Unlimited liability feature to the owner. 所有者的无限责任 Partnerships 合伙企业 An unincorporated business owned by two or more persons voluntarily acting as partners 一个公司由

3、两个及以上的自然人自愿担当合 伙共同经营 Widely used in small business 大部分都是用于小企业 Some very large professional practices, including CPA firms. 一些很大的专业实践 包括 会计师事务所 A benefit of the partnership form over the sole proprietorships form is the ability to bring together large amounts of capital investment from multiple owner

4、s. 合伙企业的好处是便于大额集资投资 Corporations 公司制企业 A corporation is a type of business organization that is recognized under the law as a entity separate from its owners. 公司制企业是法律制度下区分于所有者的实体 Ownership of a corporation is divided into transferable shares of capital stock ,and the owners are called stockholders

5、or shareholders. The stockholders are generally free to sell some or all of these share to other investors at any time. The most large businesses are organized as corporations. 最大的商业都叫做公司 Corporations are the dominate form of business organization 公司是商业的主体 Corporations are most likely to distribute

6、financial statements to investors and other outsiders 企业最有可能向投资者和外部人员发放财务报告 Basic Assumptions and Principles of Accounting 会计的基本假设和原则 Generally Accepted Accounting Principles (GAAP) 公认会计准则 GAAP provides the general framework for determining what information is included in financial statements and ho

7、w this information is to be presented. Basic Assumptions of Accounting 会计基本假设 1.Accounting Entity Assumption 会计主体假设 2.Going Concern Assumption 持续经营假设 3.Accounting Period Assumption 会计分期假设 4.Monetary Measurement Assumption 货币计量假设 Principles of Accounting 会计原则 Objectivity PPL 客观性原则 Understandability P

8、PL 明晰性原则 Relevance PPL 相关性原则 Reliability PPL 可靠性原则 Comparability PPL 可比性原则 Consistency PPL 一致性原则 Principles of Accounting 会计原则 Materiality PPL 重要性原则 Conservatism PPL 稳健性原则 Cost PPL 成本原则 Accrual basis accounting PPL 权责发生制原则 Matching PPL 配比原则 Realization PPL 收入实现原则 Financial Reporting 1.Balance sheet

9、资产负债表 2.Income statement 利润表 3 Statement of retained earnings 留存收益报表 4.Statement of cash flows 现金流量报表 BALANCE SHEET资产负债表资产负债表 The statement of financial position, or balance sheet, is a position statement that shows where the company stands in financial terms at a specific date. 资产负债表（财务状况报表）是表示某一特定

10、 日期公司的财务状况的报表 (1) ASSET资产 Assets are probable future economic benefits obtained or controlled by a company as a result of past transactions or events. 资产是由过去的交易或事项形成的，可能 带来将来经济利益流入的，由公司拥有或 控制的经济资源 （2）LIABILITIES 负债 Liabilities are probable future sacrifices of economic benefits arising from present

11、obligations of a company to transfer assets or provide services to other entities in the future as a result of past transaction or events. 负债是由过去的交易或事项形成的，可能 会引起将来经济利益流出的现时义务。 （3）OWNERS EQUITY所有者权益 Owners equity is the residual claim of the owners on the assets of a firm 所有者权益是所有者对公司资产的剩余所 求权 Income

12、 statement 利润表 The income statement is an activity statement that shows the details and results of the companys profit related activities for a period of time . 利润表是表示一段时期与经营活动相关的 反映公司经营成果的财务报表 Two common formats for income statement The single-step form Revenue Expenses Net income The multiple-step

13、 form Revenues Cost of goods sold Gross profit Operating expense Net income （1）Revenue 收入 Revenue is the cash inflows of price of goods sold and services rendered during a giver accounting period. 收入是一段时期的销售产品和提供劳务的 现金流入 (2) EXPENSE 费用 Expense are the costs of the goods and services used up in the p

14、rocess of earning revenue. 费用是整的收入过程中耗用的货物成本或 劳务。 （3）Net income/Net loss 净利润/ 净损失 The term net income (or net loss) is simply the difference between revenues and expenses for a designated period of time. 净利润（或净损失）就是一段时期收入和 费用的差额。 Statement of retained earnings 留存收益报表 The statement of retained earnin

15、gs is a statement that reflects the changes occurred in the retained earnings of a business during a specific accounting period. 留存收益表是某一特定会计时期的反映公 司留存收益改变的报表。 The statement shows the figure of Beginning retained earnings Changes during the period The figure of the ending retained earnings The state

16、ment of cash flows 现金流量表 The statement of cash flows is a summary of activity in companys cash account over a period of time and explains how the cash balance at the beginning of period came to be the cash balance at the end of the period in the process. 现金流量表是一段时间公司现金账户活动的 汇总，表示现金余额从期初到期末变化的过 程 The

17、 cash flows are divided into three basic categories: Cash flows from operating activities 经营活动现金流量 Cash flows from investing activities 投资活动现金流量 Cash flows from financing activities 筹资活动现金流量 KEY TERMS关键术语 Sole proprietorship 独资企业 Partnership 合伙企业 Corporation 公司制企业 Accounting entity 会计主体 Going concern 持续经营 Accounting period 会计分期 Monetary measurement 货币单位 KEY TERMS关键术语 Objective Understandability Relevance Reliability Comparability Consistency Materiality Conservatism 客观性 明晰性 相关性 可靠性 可比性 一致性 重要性 稳健性 KEY TERMS关键术语 Cost principle Accru