会计英语1至10课

1、1 / 39会计英语 110 课Text 1 Accounting and Its EnvironmentDevelop an accounting vocabulary for decision making. Accounting is a system formeasuring, processing, and communicating financial information. As the“ language of business, ” accounting helps awide range of decision makers. Accounting dates backs

2、 to ancient civilizations,but its importance to society has been greatest since the Industrial revolution.Apply accounting concepts and principles to analyze business2 / 39transactions. The three basic forms of business organization are theproprietorship, the partnership, and the corporation. Whatev

3、er the form,accountants use the entity concept to keep thebusinesssrecords separate from the personal records of the people who run it. Accountantsat all levels must be ethical to serve their intended purpose. Generally acceptedaccounting principles (GAAP) guide accountants in their work. Among thes

4、eguidelines are the entity concept, the reliability principle, the cost principle, thegoing-concern concept, and the stablemonetary-unit concept.Use the accounting equation to describe an organizations financial position. In itsmost common form, the accounting equation is Assets=Liabilities + Owners

5、Equity.Use the accounting equation to analyze business transactions. Transactionsaffects a businesss assets, liabilities, and owners equity. Therefore,transactions are analyzed in terms oftheir effect on the accounting equation.3 / 39Prepare the financial statements. The financial statements communi

6、cateinformation for decision making by the entity s managers, owners, and creditorsand by government agencies. The income statement presents a video of the entity s operations interms of revenues earned and expenses incurred during a specific period. Totalrevenues minus total expenses equal net inco

7、me. Net income or net loss answersthe question, How much income did the entity earn, or How much loss did it incurduring the period? The statement of owner s equity reports the changes inowner s equity during the period. The balance sheet provides a photograph of theentity s financial standing in te

8、rms of its assets, liabilities, and owners equity ata specific time. It answers the question, What is the entity s financial position?The statement of cash flowsreports the cash coming in and the cash going out during the period. It answers,Where did cash come from , and, Where did it go?4 / 39Evalu

9、ate the performance of a business. High net income indicatessuccess in business; net loss indicates a bad year. income statement 损益报表5 / 39video 讲明New wordsaccounting 会计学，结算measure 估量，衡量，计算process 初步分类，整理apply to 把应用于transaction 交易principle 原理proprietorship 独资企业， 所有权partnership 合伙关系，合伙企业corporation

10、公司，企业 entity 实体，统一的，权益ethical 合乎道德的intended 预期的guideline 方针，指南entity concept 主体概念reliability principal可信性原则cost principal 成本原则 going-concernconcept 持续经营 概念stable-money-unit concept 稳定 货币单位的概念equation 等式owners equity 投资者权益financial statement 财政报表 agency机构6 / 39revenues 总收入incurrent 遭受minus 减去balance

11、sheet 资产负债表，决算 表indicate 表明，暗示expenses 开支，消费7 / 39Text 2 Recording Business TransactionDefine key accounting terms: account, ledger, debit, and credit.The account can be viewed in the form of the letter“ T”. The leftside of each T-account is its debit side. The right side is its credit side. The led

12、ger,which contains a record for each account, groups and numbers accounts bycategory in the following order: assets, liabilities, and owners equity (and itssubparts, revenues andexpenses).Apply the rules of debit and credit. Assets and expenses are increasedrevenues are increased by credits. Liabili

13、ties,ownersequity, and revenues are increased by credits and decreased by debits. Theside debit or credit of the account in which increases are recordedis that account s normal balance. Thus the normal balance of assets andexpenses is a debit, and the normal balance ofliabilities,owner s equity, and

14、 revenues is a credit. The8 / 39Withdrawals account, which decreases owner s equity, normal has adebit balance. Revenues, which are increases in owner have anormal credit balance. Expenses, which are decreases in ownersequity, have a normal debit balance.Record transactions in the journal. The accou

15、ntant begins the recordingprocess by entering the transactionsinformation in the journal, a chronologicallist of all the businesss transactions.Post from the journal to the ledger. The information is thenposted-transferred-to the ledger accounts. Posting references are used to traceamounts back and

16、forth between the journal and the ledger. Businesses list theiraccount titles and numbers in a chart of accounts.Prepare a trial balance is a summary of all the account balance in the ledger.Whendouble-entry accounting has been done correctly, the total credits in the trialbalance are equal.Set up a

17、 chart of accounts for a business. The first step in accounting is to setup the chart of accounts.s equity,9 / 39An alyze tran sacti ons without a jour nal. Decisi on makers must often makedecisions without a complete accounting system. They can an alyze the tran sactions without a jour nal.Wecan no

18、w trace the flow of accounting informationthrough thesesteps:Busin ess Tran sacti onSource Docume ntsJour nal EntryPosti ng to Ledger Trial Bala nee.New words ledger 分类帐assets 资产 subpart 分类transfer 转移 acco untant 会计debitliabilitieschrono logicalchart记入借方的款项，借方债务按时刻顺序的图表Text 3 Measuring Business Inco

19、me: the Adjusting ProcessDistinguish accrual basis accounting from cash-basis accounting.In accrual-basis accounting, business events are recorded as theyaffect the entity. In cash-basis accounting, only those events that affect cash arerecorded. The cash basis omits important events such as purchas

20、es and sales ofassets on account. It also distorts the financial statements by labeling asexpenses those cash payments that have long-term effects, such as thepurchases of buildings and equipment. Somesmall organizations, use cash-basisaccounting, but the generally accepted method is the accrual bas

21、is.Apply the revenue and matching principles. Businesses divide time intodefinite periods-such as a month, a quarter, and a year-to report the entitysfinancial statements. The year is the basic accounting period, but companiesprepare financial statements as often as they need the in- formation. Acco

22、untantshave developed the revenue principle to determine when to record revenue andthe amount9 / 3911 / 39of revenue to record. The matching principle guides the accounting for expenses.Make adjusting entries at the end of the accounting period.Adjusting entries are a result of the accrual basis of

23、accounting.These entries, made at the end of the period, update the accountsfor preparation of the financial statements. One of the most important pieces ofbusiness information is net income or net loss, and the adjusting entries help tomeasure the net income of the period. Adjusting entries can be

24、divided into fivecategories: prepaid expenses, depreciation, accrued expenses, accruedrevenues, and unearned revenues.Prepare an adjusted trial balance. To prepare the adjusted trial balance, enterthe adjusting entries .next to the unadjusted trial balance and compute eachaccounts balance.Prepare th

25、e financial statements from the adjusted trial balance .The adjustedtrial balance can be used to prepare thefinancial statements. The there financial statements are related as follows:Income, shown on the income statement, increases the owners capital, whichalso appears on the statement of owner s e

26、quity. The ending balance of capital isthe last amount reported on the balance sheet.New Words12 / 39accrual n.自然增长 , 自然增长额revenue principle收益原则accrual-basis accounting 权责发matching principle配比原则生制adjusting entries调整分录cash-basisaccounting 现金收付update vt . 使现代化制net income 纯收入omit vt.省略，删prepaid expense

27、s待摊费用distort vt.曲解depreciation n.贬值label vt.把.列为accrued expense应计费用definite adj. 明确的 , 确切的accrued revenues应计收入accounting period 结算期unaccrued revenues 未实现收入13 / 39adjusted trial balance经调整过 unadjusted trial balance 未经调的试算表 整过的试算表Text 4 Completing the Accounting CyclePrepare an accounting worksheet, T

28、he accounting cycle is the process bywhich the accountants produce the financial statements for a special period oftime. The cycle starts with the beginning account balances. During the period ，the business journalizes transactions & posts them to the ledger accounts. At theend of the period, th

29、e trail balance is prepared, and the accounts are adjusted inorder to measure the period s net income or net loss. Completion of theaccounting cycle is aided by use of a work sheet. This multicolumned documentsummarizes the effects of all the activity of the period.Use the work sheet to complete the

30、 accounting cycle. The work sheetis neither a journal nor a ledger but merely a convenient device for 12 / 39completing the accounting cycle. It has columns for the trail balance, theadjustments, the adjusted trail balance, the income statement, and the balancesheet. It aids the adjusting process, a

31、nd it is the place where the period s netincome or net loss is first computed. The work sheet also provides a data for thefinancial statements & the closing entries. It is not, however, necessity. Theaccounting cycle can be completed from the less elaborate adjusted trail balance.Close the reven

32、ue, expense, and the withdrawal accounts. Revenue, expenses,and withdrawal represent, increases and decreases in owners equity for aspecific period. At the end of the period, t heir balances are closed out to zero, and,for this reason, they are called temporary accounts. Assets, liabilities, and cap

33、italare not closed because they are the permanent account. Their balances at theend of one period becomethe beginning balances of the next period. The finalaccuracy check of the period is the postclosing trail balance.15 / 39accounting cycle 会计循环account balance帐户余额journalize分类帐，分户帐ledger account 分户帐目completion完成，结束multicolumned 栏目纵横的worksheet备忘单，工作底稿compute 计算，估算closing entries14 / 39项目终结Correct typical accounting errors. Accountants correct errors by making correctjournal entries.Classify assets and liabilities as curr