会计英语课件

1、WELCOME!vHavent seen you for some time!罗定市中等职业技术学校李金梅 会计英语会计英语 Accounting EnglishvWhy do we learn Accounting English?vWhat are the learning objectives of Accounting English?vIs Accounting English difficult?Suggestions for studyvPreviewing the text is very important.vAn English Chinese Dictionary of

2、Accounting，英汉双解财会词典英汉双解财会词典UNIT 1An Introduction to AccountingLearning ObjectivesvExplain the definition of accounting;vUnderstand the basic function of accounting;vAs certain the users of accounting information and know why they need the information;vUnderstand the types of accounting information;v

3、Have a general idea of the professional fields of accounting and their duties.vLearn the accounting terms in this chapter and use them in the translation task.vAccount 账户账户 asset account 资产账户资产账户vAccounting 会计（学）会计（学）I majored in accounting. vAccountancy 会计工作、会计学会计工作、会计学vAccountant 会计师会计师 I want to

4、be an accountant.Bean Counter 数豆子的人数豆子的人vDifferent expressions about “ 企业企业” in English BusinessEnterpriseFirm Company Corporation Read Part I and answer the following questions:1.Accounting is a special _ of business.2.What is the purpose of accounting?3. Who are the accounting users?（使用者) 4.What a

5、re three basic accounting elements? Step OneStep One Lead in the new lesson1、What is Accounting?Accounting is a special _ of business.language会计是一种特殊的商业用语。会计是一种特殊的商业用语。 The purpose of accounting is to provide useful information for different users in order to make their decisions.(作出决定）provide sth f

6、or sb.为某人提供某物为某人提供某物Eg. Our school often provides delicious food for us .in order to 目的目的/为了为了Eg. We study hard in order to make a contribution to the society 2 2、What is the purpose of the What is the purpose of the accounting? accounting? 3、Users of Accounting Information(会计信息的使用者）会计信息的使用者）Owners

7、业主业主,managers经理经理 ,creditors 债权人债权人,governments agencies 政府机构政府机构,customers ,顾客顾客labor unions工会工会, and competitors对手对手 Revenue 收入收入Expenses 费用费用 Profits 利润利润 Assets 资产资产Liabilities 负债负债 Owners equity 业主权益业主权益/所有者权益所有者权益4、Three basic accounting elements （会计的三个基本要素（会计的三个基本要素 ）They exist in every busin

8、ess entity.4、Three basic accounting elements （会计的三个基本要素（会计的三个基本要素 ）5、Accounting equation v 资产资产 = 负债负债 + 所有者权益所有者权益 equal plusplus minus=AssetsLiabilities Owners equity+Assets - Liabilities = Owners equityAssets - Liabilities = Owners equityvNet assets = Owners equityNet assets = Owners equity =+- -

9、v1、Express 表示表示 v2、Equity are divided into liabilities and owners equity. divide into 把把.分成分成.eg: We will divide the students into three groups.3、the third can be calculate (compute ) . 计算出来计算出来6、Useful expressions4. Under the business entity principle 在企业实体原则下在企业实体原则下5、the accounting elements are a

10、ffected （相互影响）（相互影响）by each other .6、The accounting equation must be in balance.(平衡）平衡）7、Read the phrases and text 8. Do some exercises: Do some exercises: C to E or E to CC to E or E to Casset _ liability _ equity _ special language _useful information_ make decision_accounting element _ 资产资产权益权益特别

11、的言语特别的言语会计要素会计要素有用的信息有用的信息作出决策作出决策负债负债2. Complete the following sentences.v1)Accounting is a _ _ of business.v2) The purpose of accounting is to provide _ to make _.v3) There are three basic accounting elements :_ _ and _.v4)At all times, the accounting equation must be in _.v5)Equities are divided

12、into _ and _.special language useful information decisionsassets liabilities owners equity balance liabilities owners equity Step 4、Sum up: 1、The accounting purpose and elements.2、Users of Accounting Information.v1. Finish B. Reading Part 1 EX.1 and 2v 2. Read the text by heart vStep 5Step 5、Homewor

13、k:Homework: UNIT ONE Financial Position and Accounting Equation vFinancial position: economic resources belonging to a company and the claims (equities) against those resources at a point in time.vEconomic resources = equitiesvEconomic resources =creditors equity + owners equityvAccounting equation:

14、 assets = liabilities + owners equityv four types of transactions that affect owners equity Owners investmentsOwners equity revenuesOwners withdrawalsexpensesPart 2Part 2Accounting ProcessStep 1 Review v1.Who are the accounting users?v2.Whats the purpose of accounting ?v3.What are the basic accounti

15、ng elements? vThe full form of accounting equation:vAssets=Liabilities + Owners Equity + Revenue - ExpensesOwners equityvDefinition: the residual interest in the assets of an entity that remains after deducting its liabilities. vOwners equity = assets liabilitiesvOwners equity = net assetsLiabilitie

16、svDefinition: probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events.vKinds of liabilities: current liabilities and long-term liabilities

17、Assets v Definition : probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events; economic resources owned by a business that are expected to benefit future operations.vKinds of assets:current assets, fixed assets and intangible assets.

18、vEconomic resources are referred to as assets and creditors equities are referred to as liabilities.vEquities: creditors equity and owners equityvCurrent assets: cash, accounts receivable, inventories, vFixed assets: land, buildings,and equipmentvIntangible assets: patent, trademark and brand name,

19、copyright, franchisevCurrent liabilities(流动负债）: accounts payable应付账款, salaries payable应付薪金, taxes payable应付税金,vLong-term liabilities长期负债: bonds payable应付债CLASSROOM EXERCISESvIndicate below whether each account is an assets (A), liabilities (L), or a part of owners equity (OE).vCash （ ）vSalaries Paya

20、ble（ ）vAccounts Receivable（ ）vJohnson, Capital Land（ ）vAccounts Payable（ ）vSupplies（ ）vLand（ ）vSupplies（ ）OEAA AALLAOEAA AALLAvClassroom exercises:v1. Identify the following transactions by type of owners equity transaction by marking each as either an owners investment (I), owners withdrawal (W), r

21、evenue (R), expense (E) or not an owners equity transaction (NOE).va. Received cash for providing a service. ( ), vb. Took assets out of business from a personal account. ( ), vC. Received cash from a customer previously billed for a service. ( )vd. Transferred assets to the business from a personal

22、 account. ( ) ve. Paid service station for gasoline. vf. Performed a service and received a promise of payment. vg. Paid cash to purchase equipment. vh. Paid cash to employee for services performed. Part 2 ILLUSTRATIVE TRANSACTIONSvTransactionsv1. John begins his business by depositing $50,000 in a

23、bank account in the name of Shannon Realty. (investment)vAssets = Liabilities + Owners Equity1 $50,000 $50,000Bal. $50,000 $50,000lAssets = Liabilities + Owners Equity $50,000 $50,000 2. +10,000 (land) +25,000 (building) -35,000 (cash)Bal. $50,000 $50,000v3. John buys some office supplies for v$500

24、on credit. (Purchase of assets by incurring a liability)vAssets = Liabilities + Owners Equity $50,000 $50,000 3. +$500 (supplies) +$500(accounts payable)Bal. $50,500 $500 $50,000v4. John pays $200 of the $500 owed for the supplies. (payment of a liabilities)vAssets = Liabilities + Owners Equity $50,

25、500 $500 $50,000 -$200 (cash) -$200(accounts payable)Bal. $50,300 $300 $50,000v5. Shannon Realty sells a house and receives a commission in cash of $1,500. vAssets = Liabilities + Owners Equity $50,300 $300 $50,000 5. +$1,500 (cash) +$1,500(revenue)Bal. $51,800 $300 $51,500v6. John sells a house cal

26、ling for a commission of $2,000, but John agrees to wait for the payment. (revenue on credit)Assets = Liabilities + Owners Equity $51,800 $300 $51,500 $2,000 (accounts receivable) $2,000 (revenue)Bal. 53,800 $300 $53,500v7. A few days later Shannon receives $1,000 from the client.Assets = Liabilitie

27、s + Owners Equity $53,800 $300 $53,500 7. +$1,000(cash) -$1,000(accounts receivable) bal. $53,800 $300 $53,500 v8. John Shannon pays $1,000 to rent some equipment for the office .vAssets = Liabilities + Owners Equityv $53,800 $300 $53,500v8. -$1,000(cash) -$1,000(expense)v vbal. $52,800 $300 $52,500

28、v9. John pays $400 in wages to a part-time helper. (expense)vAssets = Liabilities + Owners Equityv$52,800 $300 $52,5009. -$400(cash) -$400(expense)Bal.$52,400 $300 $52,100v10. John hasnt paid the bill of utility expense of $300.vAssets = Liabilities + Owners Equityv $52,400 $300 $52,10010. +$300(acc

29、ounts payable)-$300(expense) Bal. $52,400 $600 $51,800v11. John withdraws $600 in cash from Shannon Realty and deposits it in his personal account.vAssets = Liabilities + Owners Equityv$52,400 $600 $51,80011.-$600(cash) -$600(capital) Ba.$51,800 $600 $51,200 Classroom exercisesvCharlene Rudek finish

30、ed law school in June and immediately set up her own law practice. During the first month of operation she completed the following transactions:v1.Began the law practice by placing $2,000 in a bank account established for the business.v2.Purchased a law library for $900 cash.v3.Purchased office supp

31、lies for $400 on credit.v v4.Accepted $500 in cash for completing a contract.v5.Billed clients $1,950 for services rendered during the month.v6.Paid $200 of the amount owed for office supplies.v7.Received $1,250 in cash from one client who had been previously billed for services rendered.v8.Paid ren

32、t expense for the month in the amount of $1,200.v9.Withdrew $400 from the practice for personal use.vOn a sheet of paper, list the numbers 1 through 10, with columns for Assets, Liabilities, and Owners Equity. In the columns, indicate whether each transaction caused an increase (+), a decrease (-),

33、or no change (NC) in assets, liabilities, and owners equity.vDuring the month of April, Grissom Co. had the following transactions:v1.Paid salaries for April, $1,800.v2.Purchased equipment on credit, $3000.v3.Purchased supplies with cash, $100.v4.Additional investment by owner, $4,000.v5.Paid for pa

34、rt of equipment previously purchased on credit, $1,000.v6.Received payment for services performed, $600.v7.Billed customers for services performed, $1,600.v8.Withdrew cash, $1,500.v9.Received payment from customers billed previously, $300.v10.Received utility bill, $70.v .Part 3 Professional Ethics

35、and Accounting ProfessionProfessional Ethics and the Accounting ProfessionvRevisions: 1. Accounting equation 2. Use accounting equation to analyze the transactions. Accounting ProfessionvEthics vManagement AccountingvPublic AccountingvGovernment and other Not-for-Profit AccountingvAccounting Educati

36、onvEthics Ethics is the application of a code of conduct to everyday life. It addresses the question of whether actions are good or bad, right or wrong. Ethics actions are the results of individual decisions and you are faced with many ethical situations every day. vManagement Accounting an accounta

37、nt who is employed by a business is said to be in management accounting. A small business may have only one person doing this work, though a medium-size or large company may have hundreds of accountants working under a chief accounting officer called a controller, treasurer, or financial vice presid

38、ent.vPublic Accounting the field of public accounting offers services in auditing, taxes, and management consulting to the public for a fee.vGovernment and Other Not-for-Profit Accounting Agencies and departments at all levels of government hire accountants to prepare reports that officials can resp

39、onsibly carry out their duties. Not-for-Profit organizations are hospitals, colleges, universities, and foundations.vAccounting Education Training new accountants is a challenging and rewarding career, and today instructors of accounting are in great demand.in many schools holding the CPA, CMA, or C

40、IA certificate will help and instructor to advance professionally. Part 4 Accounts Revisionsv1. Professional ethicsv2. The classification of the accounting professionAccountsvAssets: Cash Notes Receivable Accounts Receivable Prepaid Expenses Land Buildings EquipmentCashvCash is the title of the acco

41、unt used to record increases and decreases in cash. Cash consists of money or any medium of exchange that a bank will accept at face value for deposit.vCash: coins, currency, checks, postal and express money orders, money deposited in a bank or banks, cash on hand.Notes ReceivablevA promissory note

42、is a written promise to pay a definite sum of money at a fixed future date. Accounts due from others in the form of promissory notes are recorded in an account called Notes Receivable.Accounts ReceivablevAccounts Receivable is incurred by Credit Sales, or Sales on Account. Credit sales increase Acco

43、unts Receivable.Prepaid ExpensesvPrepaid InsurancevOffice SuppliesvPrepaid RentvStore SuppliesvPrepaid TaxesLand vLand account is used to record purchases of property to be used in the ordinary operations of the business.Buildings vPurchase of structures to be used in the business are recorded in an

44、 account called Buildings.vAlthough a building cannot be separated from the land it occupies, it is important to maintain separate accounts for the land and the buildings.EquipmentvOffice Equipment: desks, chairs, office machines, filing cabinets, and typewriters.vStore Equipment:cash registers coun

45、ters, showcases, shelves, and similar items.vMachinery and Equipment: lathes, drill presses and other equipment.vTrucks and Automobiles.Part 6 Liability and Owners Equity 李海红Revisions vAssets: Cash Notes Receivable Accounts Receivable Prepaid Expenses Land Buildings EquipmentLiabilityvNotes Payablev

46、Accounts PayablevOther Short-Term LiabilitiesvLong-term LiabilitiesOwners EquityvCapital AccountvWithdrawals AccountvRevenues and ExpenseNotes PayablevNotes Payable is the opposite of Notes Receivable.vIt is used to record increases and decreases in promissory note amounts owed to creditors within t

47、he next year or operating cycle.Accounts PayablevAccounts Payable is the opposite of Accounts Receivable. It comes from Credit Purchase.Other Short-Term LiabilityvWages PayablevTaxes PayablevRent PayablevInterest PayablevUnearned FeesvCustomer DepositvUnearned RevenueCapital AccountvWhen someone inv

48、ests in his or her own company, the amount of the investment is recorded in a capital account.Withdrawal AccountvA person who invests in a business usually expects to earn an income an to use at least part of the assets earned from profitable operations to pay personal living expenses. Revenue and E

49、xpense AccountsvRevenues increase owners equity, and expenses decrease owners equity: Commissions Earned Advertising Fees Earned Wages Expense Supplies Expense Rent Expense Advertising ExpenseT- Account and Double-Entry System 李海红Revisions vAssets accountsvLiabilities accountsvOwners Equity accounts

50、T account and Double-Entry SystemvEvolution of the double-entry systemvThe T-account Debit Credit for for Decrease Increase Assets = Liabilities + Owners Equity Debit Credit for for Decrease Increase Debit Credit for for Increase Decrease JOURNALS and JOURNALIZINGvJournals: general journal; special-

51、purpose journalvJournalizing: the process of recording transactions in a journal. HExamplesvThe following transactions for the Joan Miller Advertising Agency happened in January:vJanuary 1. Joan Miller invested $10,000 to start her own advertising agency.vJanuary 2. Rented an office, paying two mont

52、hs rent, $800.vJanuary 5. Purchased office equipment from Morgan Equipment for $3,000, paying $1,500 in cash and agreeing to pay the rest next month.vJanuary 6. Purchased on credit art supplies for $1,800 and office supplies for $800 from Taylor Supply Company.vJanuary 19. Performed a service by pla

53、cing several major advertisement for Ward Department Stores. The fee of $2,800 is billed now but will be collected next month. v S vRecord the following transactions in the general journal.vJanuary 8. Paid $480 for a one-year insurance policy with coverage effective January 1.vJanuary 9. Paid Taylor

54、 Supply Company $1,000 of the amount owed.vJanuary 10. Performed a service by placing advertisements for an automobile dealer in the newspaper and collected a fee of $1,400.vJanuary 12. Paid the secretary two weeks wages, $600.vJanuary 15. Accepted $1,000 as an advance fee forv art work to be done f

55、or another agency.v.vJanuary 25. Joan Miller withdrew $1,400 from thev business for personal living expenses.vJanuary 26. Paid the secretary two more weekswages, $600.vJanuary 29. Received and paid the utility bill of $100.vJanuary 30. Received (but did not pay) a telephone bill, $70.General Journal

56、DateDescriptionPost.Ref.DebitCredit DateDescriptionPost.Ref.DebitCredit DateDescriptionPost.Ref.DebitCredit DateDescriptionPost.Ref.DebitCredit DateDescriptionPost.Ref.DebitCredit DateDescriptionPost.Ref.DebitCredit Revisionsv1. Posting v2. Ledgers The Trial BalancevThe equality of debit and credit

57、balances in the ledger should be tested periodically by preparing a trial balance.vThe steps in preparing a trial balance follow:v1. Determine the balance of each account in the ledger.v2. List each ledger account that has a balance, with the debit balances in the left column and the credit balances

58、 in the right column. Accounts are listed in the order they appear in the ledger.v3. Add each column.v4. Compare the totals of each column. vJoan Miller Advertising Agency Trial BalanceJanuary 31, 2005Cash Accounts ReceivableArt SuppliesOffice SuppliesPrepaid RentPrepaid InsuranceArt EquipmentOffice

59、 Equipment$1,7202,8001,8008008004804,2003,000Accounts PayableUnearned Art FeesJoan Miller, CapitalJoan Miller, WithdrawalAdvertising Fees EarnedOffice Wages ExpenseUtility ExpenseTelephone Expense1,4001,20010070$3,1701,00010,0004,200The Measurement of Business IncomevNet Income Net income is the net

60、 increase in owners equity resulting from the operations of the company. Net income, in its simplest form, is measured by the difference between revenues and expenses: Net income=revenues-expensesvRevenues: in the simplest case, they equal the price of goods sold and services rendered during period