考研复习会计英语

1、Lesson 2Recording transactionsYe and Sun Accounting English 1Ye and Sun Accounting English 22.1 Economic events and source documents经济业务和原始凭证Business transactions affecting the accounting equation result from both external and internal events. The objectivity principle requires that transactions are

2、 supported by source documents.Using of an accounts Increases are recorded onone side of the T-account, and decreases are recorded on the other side.Ye and Sun Accounting English 3Left or Debit SideRight or Credit SideTitle of Account2.2 T accounts and debits and creditsYe and Sun Accounting English

3、 4The entire group of accounts is kept together in an accounting record called a ledger分类账.CashAccounts PayableJill Jones, CapitalAccounts账户 are individual records showing increases and decreases.Ye and Sun Accounting English 5Each account is assigned a unique number in the companys chart of account

4、s 科目表.Commonly used asset accounts include:CashAccounts receivableEquipmentBuildingsLandYe and Sun Accounting English 6Commonly used liability accounts include:Accounts payableNotes payableSalaries or Wages payableCommonly used equity accounts include:Owners capitalOwners withdrawals/dividendsRevenu

5、esExpensesYe and Sun Accounting English 7Receipts are on the debit side.Payments are on the credit side.The balance is the difference between the debit and credit entries in the account.Ye and Sun Accounting English 8A = L + OEASSETSDebit for IncreaseCredit for DecreaseEQUITIESDebit for DecreaseCred

6、it for IncreaseLIABILITIESDebit for DecreaseCredit for IncreaseDebits and credits affect accounts as follows: Debit and Credit Rules Ye and Sun Accounting English 9A = L + OEDebit balancesCredit balances=In the double-entry accounting system, every transaction is recorded by equal dollar amounts of

7、debits and credits.有借必有贷，借贷必相等 Debit and Credit Rules Ye and Sun Accounting English 10Net e is not an asset its an increase in owners equity from profits of the business.A = L + OEIncreaseDecreaseIncreaseEither (or both) of these effects occur as net e is earned . . . . . but this is what net e real

8、ly means. Debit and Credit Rules Ye and Sun Accounting English 11The price for goods sold and services rendered during a given accounting period.Increases owners equity.The costs of goods and services used up in the process of earning revenue.Decreases owners equity. Debit and Credit Rules Ye and Su

9、n Accounting English 12EQUITIESDebit for DecreaseCredit for IncreaseREVENUESDebit for DecreaseCredit for IncreaseEXPENSESCredit for DecreaseDebit for IncreaseExpenses decrease owners equity.Revenues increase owners equity. Debit and Credit Rules Ye and Sun Accounting English 13EQUITIESDebit for Decr

10、easeCredit for IncreaseJILL JONES, CAPITALDebit for DecreaseCredit for IncreaseJILL JONES, DRAWINGCredit for DecreaseDebit for IncreaseAn owners withdrawals decrease owners equity.An owners investments increase owners equity. Debit and Credit Rules Ye and Sun Accounting English 14EQUITIESDebit for D

11、ecreaseCredit for IncreaseSHARE CAPITALDebit for DecreaseCredit for IncreaseDividendCredit for DecreaseDebit for IncreaseDividends decrease owners equity.An owners investments increase owners equity. Debit and Credit Rules Retained earningsDebit for DecreaseCredit for IncreaseYe and Sun Accounting E

12、nglish 152.3 & 2.4 Accounting cycle journalizing posting and trial balance The steps in the accounting cycle会计循环 follow each accounting period to plish the analysis, recording, and reporting of financial transactions.Ye and Sun Accounting English 16Step 1: Analyzing transactionsAnalyzing transaction

13、s is the first step in the accounting cycle.Ye and Sun Accounting English 17Step 2: Recording transactionsThe second step in the accounting cycle is to record debits and credits in the general journal, the book of original entry. This process is known as journalizing.Recording transactions is based

14、on double-entry accounting, which requires that debits = credits.Ye and Sun Accounting English 18Step 2: Recording transactions (cont.)Debits are used to record increases in assets, withdrawals, and expenses. Decreases in liabilities, the owners capital account, and revenues are also recorded with d

15、ebits.Credits are used to record decreases in assets, withdrawals, and expenses. Increases in liabilities, the owners capital account, and revenues are also recorded with credits.Assets, expenses, and withdrawals normally have debit balances. Liabilities, owners capital, and revenue normally have cr

16、edit balances.Ye and Sun Accounting English 19Step 3: Posting 过账/登帐The third step in the accounting cycle begins the summarization process. Journal entries in the general journal are posted into the general ledger at the end of the accounting period.Ye and Sun Accounting English 20Step 4: Preparing

17、a trial balance 试算表The fourth step in the accounting cycle is the preparation of a trial balance that proves the equality of debits and credits.The trial balance is prepared for internal use only. It is a listing of account balances copied from the general ledger. next lessonYe and Sun Accounting En

18、glish 21The Journal 日记账，【中】记账凭证In an actual accounting system, transactions are initially recorded in the journal.Ye and Sun Accounting English 22Posting Journal Entries to the Ledger AccountsYe and Sun Accounting English 23Posting Journal Entries to the Ledger AccountsYe and Sun Accounting English 24Ledger Accounts After PostingThis ledger format is referred to as a running balance (as opposed to simple T accounts).Ye and Sun Accounting English 25All balances are taken from the ledger accounts on May 31.Proves equality of debits and cr