专业英语课件会计专业.ppt

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1、ACCOUNTING ENGLISHTeacher Le NUAA会计专业英语会计专业英语1PERIOD:116(WEEK)CLASSES:32MAJOR:ACCOUNTING2TEXTBOOK:会计专业英语，常勋、萧华编，立信会计会计专业英语，常勋、萧华编，立信会计出版社出版社REFERENCES:会计英语，经济科学出版社会计英语，经济科学出版社会计英语，陈杰主编，湖南大学出版社会计英语，陈杰主编，湖南大学出版社3第一讲，第一讲，Accounting:An Information System第二讲，第二讲，Assets Section of Balance Sheet第三讲，第三讲，Lia

2、bilities and OwnersEquity Section of Balance Sheet第四讲，第四讲，Income Statement第五讲，第五讲，Ledger Accounts第六讲，第六讲，Journals第七讲，第七讲，An Illustration第八讲，第八讲，Adjusting Procedures第九讲，第九讲，Worksheet第十讲，第十讲，Closing ProceduresCONTENTS4 1.Design of textbook:Lessons:17 Reading materials:17 2.Exercises:Matching True-fals

3、e Choose the best answer Journalizing TranslationIntroduction:51.Design of textbook2.Exercises 3.Composition:Financial accounting(15)(15)Managerial accounting(1)(1)Financial management(1)(1)Introduction:6Learning methods:注意词汇在专业环境中的含义注意词汇在专业环境中的含义 熟悉西方会计知识，并与我国熟悉西方会计知识，并与我国相关会计理论和实务进行比较相关会计理论和实务进行比较

4、7Lesson one Accounting:An Information SystemC1Learning ObjectivesTwo functions of accountingTwo functions of accountingThe new fields of accountingThe new fields of accounting8AccountingInformation systemManagement activity Discussion:two opinions on Accounting9Identificationof Users10UserInformatio

5、nNeedsIdentificationof Users11Identificationof UsersUserInformationNeedsAccountingSystem12Identificationof UsersUserInformationNeedsAccountingSystemReportsEconomic Dataand ActivitiesUserDecisions13EXTERNAL USERSFinancial AccountingFinancial Accountingwinvestorswcreditorswregulatorswcustomerswcompeti

6、torsUsers of Accounting InformationUsers of Accounting Information14EXTERNAL USERSFinancial AccountingFinancial AccountinginvestorscreditorsregulatorscustomerscompetitorswownerswmanagerswemployeesINTERNAL USERSManagerial AccountingManagerial AccountingUsers of Accounting InformationUsers of Accounti

7、ng Information15 Financial Accounting Managerial Accounting Objective Objective Standard reportingStandard reportingformat according toformat according togenerally acceptedgenerally acceptedaccounting principlesaccounting principles Objective andObjective andsubjectivesubjectiveFlexible reportingFle

8、xible reportingformats according toformats according tomanagement needsmanagement needs Reporting Characteristics Reports prepared toReports prepared toprovide informationprovide informationabout the businessabout the businessas a wholeas a wholeReports prepared toReports prepared toprovide informat

9、ion provide information about business segments,about business segments,divisions,products,etc.divisions,products,etc.Financial and Managerial AccountingFinancial and Managerial Accounting16Lesson two Assets Section of Balance SheetC2Assets:Current assets Long-term assets17ResourcesThe Accounting Eq

10、uationThe Accounting Equation What are an organizations resources called?18AssetsResources =Sources The Accounting EquationThe Accounting EquationWhat are the sources of the assets?Cost of resources usedin the business19AssetsLiabilitiesOwnersEquityResources =Sources Cost of resources usedin the bus

11、inessResources supplied by creditors and ownersThe Accounting EquationThe Accounting Equation20NetSolutionsBalance SheetNovember 30,2002AssetsCash$5,900Supplies550Land20,000 Total assets$26,450LiabilitiesAccounts payable$400Owners EquityChris Clark,capital26,050 Total liabilities and owners equity$2

12、6,450Financial StatementsFinancial Statements21Financial reports(or financial statements):Balance sheet(B.S.)Income statement(I.S.)Statement of cash flows22NetSolutionsStatement of Cash FlowsFor the Month Ended November 30,2002Cash flows from operating activities:Cash received from customers$7,500 D

13、educt cash payments for expenses and payments to creditors4,600 Net cash flow from operating activities$2,900Cash flows from investing activities:Cash payments for acquisition of land(20,000)Cash flows from financing activities:Cash received as owners investment$25,000 Deduct cash withdrawal by owne

14、r2,000 Net cash flow from financing activities23,000Net cash flow and Nov.30,2002 cash balance$5,900 Financial StatementsFinancial Statements23Lesson three Liabilities and OwnersEquity Section of Balance SheetLiabilities:Current liabilities Long-term liabilitiesC324Owners equity:Capital stock Income

15、 summary Retained earnings25NetSolutionsStatement of Owners EquityFor the Month Ended November 30,2002Financial StatementsFinancial StatementsChris Clark,capital,November 1,2002$0Investment on November 1,2002$25,000Net income for November3,050$28,050Less withdrawals2,000Increase in owners equity26,0

16、50Chris Clark,capital,November 30,2002$26,05026OWNERS EQUITYEffects of Transactions on Owners EquityEffects of Transactions on Owners EquityOwners withdrawalsExpensesOwners investments Revenuesdecreased bydecreased byincreased byincreased byNET INCOME27Lesson four Income Statement Items:RevenueCost

17、of goods soldOperating expensesSelling expensesAdministrative expensesC428Financial StatementsFinancial StatementsNetSolutionsIncome StatementFor the Month Ended November 30,2002Fees earned$7,500Operating expenses:Wages expense$2,125 Rent expense800 Supplies expense800 Utilities expense450 Miscellan

18、eous expense275 Total operating expenses4,450Net income$3,05029Formulations:Net sales=gross sales-sales returns&allowancesNet purchases=gross purchases-purchases returns&allowances+transportation in Cost of goods sold=inventory(beginning)+net purchases-inventory(ending)Gross profit=net sales cost of

19、 goods soldNet income=gross profit operating expensesCost of goods available for sale30Lesson five Ledger AccountsDebit Dr.CreditCr.General ledgerSubsidiary ledgerC531Double-Entry AccountingDouble-Entry Accounting“Double-entry accounting is based on a simple concept:each party in a business transact

20、ion will receive something and give something in return.In bookkeeping terms,what is received is a debit and what is given is a credit.The T account is a representation of a scale or balance.”Luca PacioliDeveloper ofDouble-EntryAccountingScale or BalanceReceiveDEBITGiveCREDITT accountLeft SideReceiv

21、eDEBITRight SideGiveCREDIT32Expanded Accounting EquationExpanded Accounting Equation“The basic accounting equation can be expanded to include all five financial categories indicating what has been received and given.”ExpensesLiabilitiesOwners EquityAssetsDEBITSreceivedCREDITSgiven=RevenuesNetIncome3

22、3CashGeneral Ledger and Subsidiary LedgersGeneral Ledger and Subsidiary LedgersSuppliesAccts.Payable General Ledger Accounts ReceivableSubsidiary LedgerABCDCustomer AccountsAccts.ReceivableAccounts PayableSubsidiary LedgerABCDCreditor Accounts34NetSolutionsChart of AccountsBalance SheetIncome Statem

23、ent1.Assets11Cash12Accounts Receivable14Supplies15Prepaid Insurance17Land18Office Equipment2.Liabilities21Accounts Payable23Unearned Rent3.Owners Equity31Chris Clark,Capital32Chris Clark,Drawing4.Revenue41Fees Earned5.Expenses51Wages Expense52Rent Expense54Utilities Expense55Supplies Expense59Miscel

24、laneous Expense35Accounting cycle:(1)analyze transactions from source documents(2)record in journals(3)Post to general(subsidiary)ledger accounts(4)adjust the general ledger accounts(5)prepare financial statements(6)close temporary accounts36“Income summary”类似于我国会计中的类似于我国会计中的“本年利润本年利润”账户账户37Lesson s

25、ix JournalsGeneral journalSpecial journal C638Post.DateDescriptionRef.DebitCredit12/1Prepaid Insurance 2,400 Cash 2,400General JournalPage 1Recording and Posting an EntryRecording and Posting an Entry1.Analyze and record the transaction as shown.2.Post the debit side of the transaction.3.Post the cr

26、edit side of the transaction.39Post.DateDescriptionRef.DebitCredit12/1Prepaid Insurance 2,400 Cash 2,400Post.BalanceDateItemRef.DebitCredit DebitCredit12/1 Account:Prepaid InsuranceAccount No.15General JournalGeneral LedgerPage 1Recording and Posting an EntryRecording and Posting an Entry11Enter the

27、 transaction date in the ledger account.40Post.DateDescriptionRef.DebitCredit12/1Prepaid Insurance 2,400 Cash 2,400Post.BalanceDateItemRef.DebitCredit DebitCredit12/11 2,400 Account:Prepaid InsuranceAccount No.15General JournalGeneral LedgerPage 1Recording and Posting an EntryRecording and Posting a

28、n Entry22Enter the debit amount in the ledger debit column.41Post.DateDescriptionRef.DebitCredit12/1Prepaid Insurance 2,400 Cash 2,400Post.BalanceDateItemRef.DebitCredit DebitCredit12/11 2,4002,400Account:Prepaid InsuranceAccount No.15General JournalGeneral LedgerPage 1Recording and Posting an Entry

29、Recording and Posting an Entry33Update the ledger account balance.42Post.DateDescriptionRef.DebitCredit12/1Prepaid Insurance 2,400 Cash 2,400Post.BalanceDateItemRef.DebitCredit DebitCredit12/11 Account:Prepaid InsuranceAccount No.15General JournalGeneral LedgerPage 1Recording and Posting an EntryRec

30、ording and Posting an Entry44Enter the journal page in the ledger account.43Post.DateDescriptionRef.DebitCredit12/1Prepaid Insurance152,400 Cash 2,400Post.BalanceDateItemRef.DebitCredit DebitCredit12/112,4002,400Account:Prepaid InsuranceAccount No.15General JournalGeneral LedgerPage 1Recording and P

31、osting an EntryRecording and Posting an Entry55Enter the ledger account number in the journal.44Recording and Posting an EntryRecording and Posting an EntryPost.DateDescriptionRef.DebitCredit12/1Prepaid Insurance152,400 Cash112,400Post.BalanceDateItemRef.DebitCredit DebitCredit11/30Balance5,90012/11

32、2,4003,500Account:CashAccount No.11General JournalGeneral LedgerPage 115234All five parts of the credit posting are shown.45Special journal specific transactions to be recordedSales journalCash receipts journalInvoice register(purchases journal)Cash disbursements journalSales on credit termReceipts

33、of cash(including cash sales)Purchases of merchandise and other items on credit termsPayments of cash(including cash purchases)46Special JournalsSpecial JournalsRendering of services on account SELLING Sales JournalSales Journal Cash Receipts JournalCash Receipts Journal Purchases JournalPurchases J

34、ournal Cash Payments JournalCash Payments JournalReceipt of cash from any sourcePurchase of items on accountPayment of cash for any purposerecorded inrecorded inrecorded inrecorded in BUYING 47Lesson seven An IllustrationTermsThe party expected to remit to the freight companyThe party who is bear tr

35、ansportation costsC748Freight prepaid(seller)Freight collect(buyer)The party expected to remit to the freight companyThe party who is bear transportation costsF.O.B.destination(seller)F.O.B.shipping point(buyer)49Lesson eight Adjusting ProceduresC8valuation adjustments(e.g.depreciation)accruals and

36、deferrals adjustments50TWO METHODSReporting Revenue and ExpenseReporting Revenue and ExpenseCash Basis of AccountingAccrual Basis of Accounting51Cash Basis of AccountingCash Basis of AccountingpRevenue reported when cash is receivedpExpense reported when cash is paidpDoes not properly match revenues

37、 and expenses52Accrual Basis of AccountingAccrual Basis of AccountingpRevenue reported when earnedpExpense reported when incurredpProperly matches revenues and expenses in determining net incomepRequires adjusting entries at end of period53The Matching ConceptThe Matching ConceptAssetsLiabilitiesOwn

38、ersEquityDebits =CreditsNet income is determined by properly matching expenses and revenues.ExpensesRevenuesNetIncomematching54 Apportioning recorded costsdeferred expenses Apportioning recorded revenuedeferred revenue Accruing unrecorded expensesaccrued expenses Accruing unrecorded revenueaccrued r

39、evenue55Adjustments Deferrals and AccrualsAdjustments Deferrals and AccrualsCurrent PeriodFuture Period Cash Received Revenue Recorded Deferrals Cash Received Current PeriodFuture Period Expense Recorded Cash Paid Cash Paid Expense Recorded Expenses Cash Paid Accruals Revenue Recorded Cash Received

40、Revenue Deferrals Accruals 56A deferred itemA deferred item is one for which the cash has been paid or received,but the expense or revenue has not been recognized.A accrual itemA accrual item is one for which the cash has not yet been paid or received,but theexpense or revenue has already been recog

41、nized.57Adjustments Deferred ExpenseAdjustments Deferred ExpenseP1.2,400CashPrepaid InsuranceInsurance ExpenseP1.2,400On December 1,NetSolutions purchased insurance for 24 months at a cost of$2,400.Adjustment A1 Record insurance used for December,$100.A1.100A1.100ExpensesAssetsA1Example P1 Purchase

42、initially recorded as an asset.Example P1 Purchase initially recorded as an asset.A158Adjustments Deferred RevenueAdjustments Deferred RevenueA3.120CashUnearned RentRent RevenueS1.360On December 1,NetSolutions received cash of$360 for three months rent beginning December 1.Adjustment A3 Record rent

43、earned for December.S1.360A3.120RevenuesLiabilitiesA3Example S1 Sale initially recorded as a liability.Example S1 Sale initially recorded as a liability.A359Adjustments Accrued ExpenseAdjustments Accrued ExpenseWages PayableWages ExpenseNetSolutions received employee services for the last two days o

44、f December amounting to$250,to be paid later.Adjustment A5 Record accrued wages of$250.A5.250Bal.4,275ExpensesLiabilitiesA5A5A5.25060Adjustments Accrued RevenueAdjustments Accrued RevenueAccounts ReceivableFees EarnedAs of December 31,NetSolutions provided 25 hours of services at$20 per hour to be b

45、illed next month.Adjustment A6 Record accrued fees earned of$500.A6.500Bal.16,340RevenuesAssetsA6A6A6.500Bal.2,22061Summary of AdjustmentsSummary of AdjustmentsDeferredExpensesExpensesAssetsA1A2DeferredRevenuesRevenuesLiabilitiesA3A4Buying SideBuying SideSelling SideSelling SideRearrangingthe Debits

46、Rearrangingthe Credits62Summary of AdjustmentsSummary of AdjustmentsExpensesLiabilitiesA5RevenuesAssetsA6AccruedExpensesBuying SideBuying SideSelling SideSelling SideAdding a NewTransactionAdding a NewTransactionAccruedRevenues63Summary of AdjustmentsSummary of AdjustmentsDeferredExpensesExpensesAss

47、etsA1A2ExpensesLiabilitiesA5DeferredRevenuesRevenuesLiabilitiesA3A4RevenuesAssetsA6AccruedExpensesBuying SideBuying SideSelling SideSelling SideRearrangingthe DebitsAdding a NewTransactionRearrangingthe CreditsAdding a NewTransactionAccruedRevenues64Lesson night A Worksheet COMPANYWORKSHEETC965The W

48、ork SheetThe Work SheetTrial BalanceAccountsDrCrDrCrDrCrAdjustmentsAdjusted TBPrepared from general ledger.Accounts are listed in order:A,L,OE,R,E66The Work SheetThe Work SheetAdjustments are entered here.Two possibilities:1.Deferrals Existing balances are changed.2.Accruals New information is enter

49、ed.Trial BalanceAccountsDrCrDrCrDrCrAdjustmentsAdjusted TB67The Work SheetThe Work SheetAdjustments are combined with the trial balance.Account balances are now adjusted.Trial BalanceAccountsDrCrDrCrDrCrAdjustmentsAdjusted TB681.Transactions are analyzed and recorded in journal.DocumentsJournal2.Tra

50、nsactions are posted from journal to ledger.JournalLedger3.Trial balance is prepared.Journal,Ledger,Trial BalanceJournal,Ledger,Trial BalanceTrial Balance69Lesson ten Closing Procedures(1)To close sales and related accounts(2)To close purchases and related accounts(3)To close operating expense accou