基础会计英语chapter 3 Accounting Vouchers and Accounting Books

1、Chapter 3 Accounting Vouchers and Accounting Books To be familiar with the operations of source documents, recording vouchers and others documents; To be able to set up account books such as journals and ledgers; To learn to perform account checking and closing. Brainstorming 1. Try to say these acc

2、ounting terms in English and share them with your partners.原始凭证转账凭证支票存根会计结账总分类账 红字更正法会计账簿划线注销Brainstorming1) In accounting practice, how many kinds of vouchers are being used? 2) What are main differences between general ledgers and subsidiary ledgers?3) What steps consist of general closing procedu

3、res of accounting? 2. Discuss and answer the following questions.InstructionIn accounting practice, it is the first step for accountants to draw up and examine accounting vouchers. The vouchers include original and recording vouchers. It is required that the accounting information recorded should be

4、 authentic, accurate and complete. On the basis of the examined accounting vouchers, account book entries shall be conducted.In order to ensure the records in account books are accurate, the system of account reconciliation or verification shall be established, and accounts or entries shall be close

5、d or balanced regularly. 3.1 Accounting voucher Source DocumentsLooking back to what we have learned beforeIt is the first step for accountants to draw up and examine accounting vouchers.Accounting VouchersOriginal vouchers (or source documents) Recording vouchers (or entry document)Requirements of

6、accounting information recorded: authentic, accurate and complete.Source DocumentsThere are some general elements in source documents：name of the document name of a company or department by which its prepareddate and numbersname of a company or person that receives the documentscontents, such as dig

7、est of the transaction, amount, price and sumclerks signature or signetSource DocumentsBecause of their different origins, we often see two kinds of source documents in use:external source documents VS the internal source documents. According to different filling methods and procedures: one-off docu

8、ments VS accumulation documents VS summary documents. Based on their different formats:general source documents (e.g. commercial bills, payment receipt, etc.) VS special source documents (e.g. stores requisition, travel expense form, etc.). Recording VouchersSuitable type of voucher shall be chosenE

9、xplanation or description on the transaction should be expressed briefly（2）（1）Accounting entry shall be made in accordance with the account（3）As soon as an economic transaction occurs, the recording voucher shall be filled in legibly with authentic record, complete content and proper procedures. In

10、addition, when filling, accounting personnel are required to obey the following: Recording VouchersVouchers may not be arbitrarily compiled or separated（5）The column of Amount shall be filled in according to the regulations, and blanks should be crossed off with a line（7）Vouchers shall be numbered s

11、equentially（4）Recording vouchers computerized must also conform to the uniform standard. （8）Pages of the vouchers shall be marked exactly（6） Recording Vouchers Whether the vouchers are prepared on the basis of the examined source documents1Whether proper accounts are applied2Whether amounts are corr

12、ect and accurate3Whether accounting procedures are undertaken4Accordingly, when accountants audit recording vouchers, they try to discover: Recording Vouchers(Sample 3-1) (Sample 3-2) (Sample 3-3) (Sample 3-4) Receipt VouchersDisbursement VouchersTransfer VouchersReceipt Vouchersoriginal voucher原始凭证

13、recording voucher记账凭证valid vlid adj.正当的, 有效的，有法律效力的certify s:tifai vt.证明, 证实reconciliation reknsiliein n.和解, 调和，一致，勉强接受accounting archive会计档案physical asset实物资产inventory sheet盘存单New words and expressionsstatement of changes in owners equity所有者权益变动表affiliated note附注stub stb n. 票根, 存根，残端, 铅笔头, 烟蒂signet

14、 sinit n.图章,印；vt.盖章于one-off adj.一次性的；n.一次性事物legibly ledbli adv.易读地receipt voucher收款凭证disbursement voucher付款凭证transfer voucher转账凭证New words and expressions3.2 Accounting books Preview of Accounting BooksAn accounting book is also called an account book for short. Based on the examined accounting vouc

15、hers, it is the book that records all the economic transactions for an enterprise or a unit systematically and consecutively. So it always consists of relevant pages with specific forms. Preview of Accounting BooksAccounting books include:journals (or daily books), legers (i.e. general ledgers and s

16、ubsidiary ledgers), and other auxiliary account books (or memorandum). They also can be classified into two-column books, three-column books, more-column books and amount-type books. Among them three-column books are common in journals and ledgers. Because of their different appearances, they are so

17、rted into bound legers, loose-leaf legers and card account books. Preview of Accounting BooksWhen accountants enter account books, they shall observe the following rules and regulations:All the records shall be correct and complete;Signs for posting reference are marked;Words and figures are clear a

18、nd accurate;They are normally entered in blue or black ink; Preview of Accounting BooksSpecial records can be in red ink;They are entered with the order of pages consecutively numbered;The balance is calculated;At the end of a page, the words “Refer to the front or next page” are written down when n

19、ecessary;Correction for any error shall be made in accordance with the stipulated methods, otherwise no scrape or modification is allowed. JournalsThe journal is a chronological (day-by-day) record of all business transactions, and each transaction is registered in the order of date.According to dif

20、ferent contents, there are general journals and special journals.LedgersFormats of subsidiary ledger include three-column (such as “Accounts receivable”), more-column (such as “Manufacturing cost”), amount-type (such as “Raw materials”), horizontal-line (such as “other receivables”), etc.General led

21、ger (ledger) is set up in accordance with the accounts of general ledger and classified to record economic activities by business, which provides general accounting information; subsidiary ledger (subledger) is set up in accordance with the specific accounts and classified to record the economic act

22、ivities with more detailed information. Account checking and closingRefers to the regular work of checking the entries in account books. That is, every unit shall regularly check the journals or ledgers records with physical assets, cash holdings and relevant information and ensure that accounting r

23、ecords conform to the actual amount of the physical assets and cash holdings, accounting records conform to the relevant contents of the accounting vouchers, accounting records conform to one another and accounting records conform to the relevant contents of the accounting statements. All of the abo

24、ve tell us what an accountant shall do while checking accounts. Account checking Account checking and closingGeneral closing procedures are as below:Account closing (1) Post all economic activities that occur within the current period, and ensure its accuracy.(2) Adjust related accounts in accordanc

25、e with requirements of accrual basis.(3) Transfer revenue and expense accounts to “Income Summary”. (4) Calculate the accumulated amounts in current period and ending balance of the assets, liabilities and owners equity accounts, and post it to the next accounting period. Account checking and closin

26、gAccount closing Examples are as below:Step1Step2Step3Close the revenue account (s)Close the expense accountsClose the Income Summary accountAccount correcting In account books, where there are errors or page partition, number shortage or line skip, corrections shall be made in accordance with the m

27、ethods stipulated in the uniform accounting system of the State, and be sealed by the accounting personnel and the person in charge of the accounting office (or the accountant in charge) in the place of corrections.The methods used to correct errors are the following: drawing a straight line, using red ink or making an extra record. When figures or words in the account book are wrong and records i