会计英语1－10课
会计英语1－10课 Text 1 Accounting and Its Environment Develop an accounting vocabulary for decision making. Accounting is a system for measuring, processing, and communicating financial information. As the “language of business,” accounting helps a wide range of decision makers. Accounting dates backs to ancient civilizations, but its importance to society has been greatest since the Industrial revolution. Apply accounting concepts and principles to analyze business transactions. The three basic forms of business organization are the proprietorship, the partnership, and the corporation. Whatever the form, accountants use the entity concept to keep the business’s records separate from the personal records of the people who run it. Accountants at all levels must be ethical to serve their intended purpose. Generally accepted accounting principles (GAAP) guide accountants in their work. Among these guidelines are the entity concept, the reliability principle, the cost principle, the going- concern concept, and the stablemonetary-unit concept. Use the accounting equation to describe an organization’s financial position. In its most common form, the accounting equation is Assets=Liabilities + Owner’s Equity. Use the accounting equation to analyze business transactions. Transactions affects a business’s assets, liabilities, and owner’s equity. Therefore, transactions are analyzed in terms of their effect on the accounting equation. Prepare the financial statements. The financial statements communicate information for decision making by the entity’s managers, owners, and creditors and by government agencies. The income statement presents a video of the entity’s operations in terms of revenues earned and expenses incurred during a specific period. Total revenues minus total expenses equal net income. Net income or net loss answers the question, How much income did the entity earn, or How much loss did it incur during the period? The statement of owner’s equity reports the changes in owner’s equity during the period. The balance sheet provides a photograph of the entity’s financial standing in terms of its assets, liabilities, and owner’s equity at a specific time. It answers the question, What is the entity’s financial position? The statement of cash flows reports the cash coming in and the cash going out during the period. It answers, Where did cash come from , and, Where did it go? Evaluate the performance of a business. High net income indicates success in business; net loss indicates a bad year. New words accounting 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 公司，企业 entity 实体，统一的，权益 ethical 合乎道德的 intended 预期的 GAAP 普通会计原理 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-concern concept 持续经营概念 stable-money-unit concept 稳定货币单位的概念 equation 等式 owner’s equity 投资者权益 financial statement 财政报表 agency 机构 income statement 损益报表 video 说明 revenues 总收入 incurrent 遭受 minus 减去 balance sheet 资产负债表，决算表 indicate 表明，暗示 expenses 开支，消费 Text 2 Recording Business Transaction Define key accounting terms: account, ledger, debit, and credit. The account can be viewed in the form of the letter “T”. The left side of each T-account is its debit side. The right side is its credit side. The ledger, which contains a record for each account, groups and numbers accounts by category in the following order: assets, liabilities, and owner’s equity (and its subparts, revenues and expenses). Apply the rules of debit and credit. Assets and expenses are increased revenues are increased by credits. Liabilities, owner’s equity, and revenues are increased by credits and decreased by debits. The side—debit or credit—of the account in which increases are recorded is that account’s normal balance. Thus the normal balance of assets and expenses is a debit, and the normal balance of liabilities, owner’s equity, and revenues is a credit. The Withdrawals account, which decreases owner’s equity, normal has a debit balance. Revenues, which are increases in owner’s equity, have a normal credit balance. Expenses, which are decreases in owner’s equity, have a normal debit balance. Record transactions in the journal. The accountant begins the recording process by entering the transaction’s information in the journal, a chronological list of all the business’s transactions. Post from the journal to the ledger. The information is then posted- transferred-to the ledger accounts. Posting references are used to trace amounts back and forth between the journal and the ledger. Businesses list their account titles and numbers in a chart of accounts. Prepare a trial balance is a summary of all the account balance in the ledger. When double-entry accounting has been done correctly, the total credits in the trial balance are equal. Set up a chart of accounts for a business. The first step in accounting is to set up the chart of accounts. Analyze transactions without a journal. Decision makers must often make decisions without a complete accounting system. They can analyze the transactions without a journal. We can now trace the flow of accounting information through these steps: Business Transaction( Source Documents ( Journal Entry ( Posting to Ledger ( Trial Balance. New words ledger 分类帐 debit 记入借方的款项，借方 assets 资产 liabilities 债务 subpart 分类 chronological 按时间顺序的 transfer 转移 chart 图表 accountant 会计 Text 3 Measuring Business Income: the Adjusting Process Distinguish accrual basis accounting from cash-basis accounting. In accrual-basis accounting, business events are recorded as they affect the entity. In cash-basis accounting, only those events that affect cash are recorded. The cash basis omits important events such as purchases and sales of assets on account. It also distorts the financial statements by labeling as expenses those cash payments that have long-term effects, such as the purchases of buildings and equipment. Some small organizations, use cash- basis accounting, but the generally accepted method is the accrual basis. Apply the revenue and matching principles. Businesses divide time into definite periods--such as a month, a quarter, and a year--to report the entity’s financial statements. The year is the basic accounting period, but companies prepare financial statements as often as they need the in- formation. Accountants have developed the revenue principle to determine when to record revenue and the amount of 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 accounting. These entries, made at the end of the period, update the accounts for preparation of the financial statements. One of the most important pieces of business information is net income or net loss, and the adjusting entries help to measure the net income of the period. Adjusting entries can be divided into five categories: prepaid expenses, depreciation, accrued expenses, accrued revenues, and unearned revenues. Prepare an adjusted trial balance. To prepare the adjusted trial balance, enter the adjusting entries .next to the unadjusted trial balance and compute each account’s balance. Prepare the financial statements from the adjusted trial balance .The adjusted trial balance can be used to prepare the financial statements. The there financial statements are related as follows: Income, shown on the income statement, increases the owner’s capital, which also appears on the statement of owner’ s equity. The ending balance of capital is the last amount reported on the balance sheet. New Words accrual n. 自然增长,自然增长额 accrual-basis accounting 权责发生制 cash-basis accounting 现金收付制 omit vt. 省略，删 distort vt. 曲解 label vt. 把……列为 definite adj. 明确的,确切的 accounting period 结算期 revenue principle 收益原则 matching principle 配比原则 adjusting entries 调整分录 update vt . 使现代化 net income 纯收入 prepaid expenses 待摊费用 depreciation n.贬值 accrued expense 应计费用 accrued revenues 应计收入 unaccrued revenues 未实现收入 adjusted trial balance 经调整过的试算表 unadjusted trial balance 未经调整过的试算表 Text 4 Completing the Accounting Cycle Prepare an accounting worksheet, The accounting cycle is the process by which the accountants produce the financial statements for a special period of time. The cycle starts with the beginning account balances. During the period，the business journalizes transactions & posts them to the ledger accounts. At the end of the period, the trail balance is prepared, and the accounts are adjusted in order to measure the period’s net income or net loss. Completion of the accounting cycle is aided by use of a work sheet. This multicolumned document summarizes the effects of all the activity of the period. Use the work sheet to complete the accounting cycle. The work sheet is neither a journal nor a ledger but merely a convenient device for completing the accounting cycle. It has columns for the trail balance, the adjustments, the adjusted trail balance, the income statement, and the balance sheet. It aids the adjusting process, and it is the place where the period’s net income or ne...
会计英语1－10课