《审计专业英语》PPT课件.ppt

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1、 SPECIALIZED ENGLISH Auditing专专 业业 英英 语语 审计学审计学 Chapter One:Introductionu、Words and Phrases:enterprise 企业 business 企业 firm 公司、商号 concern vt.涉及 与有关 企业 general purpose（普遍）通用的 criterion 标准 enhance vt.提高、放大 感兴趣 return on 回报、报酬 return of 回收 收回 financial position 财务状况 financial progress 财务进展 internal user

2、s 内部信息使用者 external users 外部信息使用者 tax accounting 税务会计 tax planning 税务筹划 income tax return 所得税申报表 debt-paying ability 偿债能力 liquidity 清偿，偿债能力 cash flow:inflow 流入 outflow 流出例：an inflow of bank deposits 银行存款的增加 u、Reading Comprehension Main Ideas:1.Definition of Accounting:business language information sy

3、stem basis for decisions2.Types of Accounting Information:(1)Financial Accounting:Internal users External users:Owners.Creditors Governmental agencies Labor Unions SAP AGInsuranceTax StockholderAdminister justiceBankAuditorMedia,Financial analystAdministratorManagerEmployeeControllerThe border of di

4、rectorExternal and Internal Users(2)Management Accounting(3)Tax Accounting3.Three Fields of Accounting Private Accounting Public Accounting Government Accounting(nonprofit organizations)4.Extending your knowledge(会计道德）Multiple-choice question:P12Q-1.Which of the following does not describe accountin

5、g?a.Language of business.b.Is an end rather than a means to an end.c.Useful for decision making.d Used by business,government,nonprofit organizations,and individuals.Q-2.To understand and use accounting information in making economic decisions,you must understand:a.The nature of economic activities

6、that accounting information describes.b.The assumptions and measurement techniques revolved in developing accounting information.,c.Which information is relevant for a type of decision that is being made.d.All of the above.Q-3.External users of financial accounting information include all of the fol

7、lowing except:a.Investors.b.Labor unions.c.Line managers.d.General public.Q-4.Objectives of financial reporting to external investors and creditors include preparing information about all of the following except:a.Information used to determine which products to produce.b.Information about economic r

8、esources,claims to those resources,and changes in both resources and claims.c.Information that is useful in assessing the amount,timing,and uncertainty of future cash flows.d.Information that is useful in making investment and credit decisions.Q-5 Which of the following are important factors in ensu

9、ring the integrity of accounting information?a.Institutional factors,such as standards for preparing information.b.Professional organizations,such as the American Institute of CPAs.c.Competence judgment and ethical behavior of individual accountants d.All of the above.EXERCISEE1-1 You recently inves

10、ted$12,000 of your savings in a security issued by a large company.The security agreement pays you 7 percent per year and has a maturity two years from the day you purchased it.What is the total cash flow you expect to receive from this investment,separated into return on your investment and the ret

11、urn of your investment?E1-2 Divide into groups as instructed by your professor and discuss the following:a.How does the description of accounting as the language of business relate to accounting as being useful for investors and creditors?b.Explain how the decisions you would make might differ if yo

12、u were an external investor or member of an enterprises management team.CASEC1-1.A friend learns that you are taking an accounting course.Knowing that you do not plan a career in accounting,the friend asks you why you are wasting your time.Explain to the friend how you and your friends will use acco

13、unting information in a.Your personal life.b.The business of your friend,who plans to be a farmer.c.The business life of another friend,who plans a career in sales.C1-2 Ethical conduct and professional judgment each play important roles in the accounting process.a.In general terms,explain why it is

14、important to society that people who prepare accounting information act in an ethical manner.b.Identify at least three areas in which accountants must exercise professional judgment,rather than merely relying on written rules.Chapter TwoTheoretical Framework underlying Financial AccountingKey words,

15、phrases,and special terms P21 1、Words and Phrases:intuition 直觉力 实践性 rest on/upon=set up 建立 on account=on credit 赊账 utility 公用事业 utility expense 水电费 materiality 物质性,重要性 encompass 围绕,包含 constraint 强制,约束 hierarchy 等级制度2、Reading Comprehension(GAAP)(1)Assumptionu Accounting entity 会计主体 Separate entity 独立

16、实体u Going concern 持续经营 Continue operation(or continuing concern)u measuring unit 计量单位 monetary unit 货币计量 stable-money-unit 稳定的货币单位u Accounting period 会计分期 Time-period 期间概念 Periodicity 定期 (2)Principles:l accrual basis&cash basislHistorical costlMatchinglRealizationlFull-disclosure (adequate disclosur

17、e)lObjectivelConsistencylConservatismlMaterialitylCost-benefit(3)Organizationl FASB (美）财务会计准则委员会l APB 会计准则委员会lAICPA（美）注册会计师协会3.Main Points1.Nature of a theoretical framework2.Theoretical Framework First levelBasic objectives decision usefulness Second levelFundamental concepts Qualitative Characteri

18、stics Accounting Elements Third levelRecognition and Measurement Concepts(1.Assumptions b.Principles c.Constraints)3.Extending KnowledgeIndustry Practice 4.Multiple-choice question:Q2-1.An objective of financial reporting is to:a.Assess the adequacy of internal control.b.Provide information useful f

19、or investor decisions.C.Evaluate management results compared with standards.D.Provide information on compliance with established procedures.Q2-2.A publicly held corporation is required to have its financial statements audited by an independent external auditor.The three purposes of these financial s

20、tatements are to provide useful information(1)for credit and investment decisions,(2)about the firms resources,and(3)for A.Determining the impact of inflation.B.Long-lived asset replacements.C.Assessing market values of assets.D.Evaluating prospective cash flows.Q2-3.The information reported in the

21、statement of cash flows should help investors,creditors,and others to assess all of the following except the A.Amount,timing,and uncertainty of prospective net cash inflows of a firm.B.Companys ability to pay dividends and meet obligations.C.Companys ability to generate future cash flows.D.Managemen

22、t of the firm with respect to the efficient and profitable use of its resources.Q2-4.A statement of financial position is intended to help investors and creditors A.Assess the amount,timing,and uncertainty of prospective net cash inflows of a firm.B.Evaluate economic resources and obligations of a f

23、irm.C.Evaluate economic performance of a firm.D.Evaluate changes in the ownership equity of a firm.Q2-5.According to text,Objectives of Financial Reporting by Business Enterprises,A.External users have the ability to prescribe information they want.B.Information is always based on exact measures.C.F

24、inancial reporting is usually based on industries or the economy as a whole.D.Financial accounting does not directly measure the value of a business enterprise.EXERCISE 1E2 On February 1,2000,a computer software firm agrees to program to a software package.Twelve payments of$10,000 on the first of e

25、ach month are to be made,with the first payment March 1,2000,The software is accepted by the client June 1,2001.How much 2000 revenue should be recognized?CASEC2:The realization principle determines when a business should recognize revenue.Listed next are three common business situations involving r

26、evenue.After each situation,we give two alternatives as to the accounting period(or periods)in which the business might recognize this revenue.Select the appropriate alternative by applying the realization principle,and explain your reasoning.a.Airline ticket revenue:Most airlines sell tickets well

27、before the scheduled date of the flight.(Period ticket sold;period of flight)b.Sales on account:In June 2005,a San Diego-based furniture store had a big sale,featuring No payments until 2006.(Period furniture sold;periods that payments are received from customers)c.Magazine subscriptions revenue:Mos

28、t magazine publishers sell subscriptions for future delivery of the magazine.(Period subscription sold;periods that magazines are mailed to customers)Chapter Three Accounting Cycle1.Words and Phrases:Key words,phrases,and special terms p38interval 间隔 order 次序 in order of date=chronological 按时间顺序orig

29、inal document=source document 原始凭证make an entry=journalize 作分录post 传递 邮递 过账 posting 过账 individual adj.个人的 单独的 individually adv.分别地 逐笔地 例：posting daily and individually 每天逐笔过账 Two-column”account“两栏式”账 “Three-column”account “三栏式”账 “T“account T型账minus 减去 deduct vt.减去 扣除 less prep.减去 subtract (from)vt.减

30、去 扣除 例：Four minus two is two 4 2=2tax benefit 税收收益 2.Abbreviation(缩略语）缩略语）Co.=Company 公司 Inc.=Incorporation 公司 Ltd.=Limited 有限的 a/c A/c=account 账户账目 A/o=account of .账户 Amt.=amount 金额总计 Dr.=Debit 借方 Cr.=Credit贷方 Rec.=receipt 收据 T.B.=Trial Balance 试算表 Ult.(拉)ultimo=last month 上月的 Yrs.=year 年年度 Bal.=ba

31、lance 余额 Ref.=reference凭证号码（参考符号）备查 Exp.=Explanation 摘要 Description摘要 St.=Statement 报表 End.bal.=Ending balance期末余额 Beg.bal.=Beginning balance 期初余额 adj.=adjustment3.Main Points(1.)Accounting Cycle p27Make accounting entries p28-30Journalizing and posting p30-31Making end-of-period adjusting entries p

32、31-33Work sheet p34Preparing financial statements p36-37(2.)Worksheet4.Extending Knowledge p37 -Adjustment for taxes in unprofitable periodsMultiple-choice question p39 Exercise 1 p40E2.On February 1,2000,a computer software firm agrees to program to a software package.Twelve payments of$10,000 on t

33、he first of each month are to be made,with the first payment March 1,2000,The software is accepted by the client June 1,2001.How much 2000 revenue should be recognized?E2.Answer:0 E3-1 J.Linda began a public accounting practice and completed these transactions during November of the current year:Nov

34、.1 Invested$3,500 cash in a public accounting practice begun this day.Paid cash for three months office rent in advance$900.Purchased office supplies,$60,and office equipment,$2,000,on credit.Paid the premium on two insurance policies,$375.Completed accounting work for Jack Hall and collected$15 cas

35、h therefore.Completed accounting work for Sun Bank on credit,$350.Purchase additional office supplies on credit,$25.Received$350 from Sun Bank for the work completed on November 13.Made a$250 installment payment on the supplies and equipment purchased on November 2.30.Linda wrote a$45 check on the b

36、ank account of the accounting practice to pay the electric bill of her personal residence.31.Completed accounting work for Evans Company on credit,$300.31.Paid the monthly utility bills of the accounting office,$30.Required:1.Open following accounts:Cash;Accounts Receivable;Prepaid Rent;Prepaid Insu

37、rance;Office Supplies;Office Equipment;Accounts Payable;J.Linda Capital;Accounting Revenue;Utility Expenses;J.Linda,personal.2Prepare general journal entries to record the transactions,post to the accounts,and prepare a trial balance.Head the trial balance J.Linda,CPA.E3-1 Answer:Nov.1,Dr.Cash$3,500

38、 Cr.Capital Stock$3,500 Dr.Prepaid Rent$900 Cr.Cash$900 2,Dr.Office Equipment$2,000 Office Supplies 60 Cr.Accts.Pay.$2,060 3,Dr.Prepaid Rent$375 Cr.Cash$375 8,Dr.Cash$15 Cr.Accounting Revenue$1513,Dr.Accts.Rec.$350 Cr.Accounting Revenue$350 15,Dr.Office Supplies$25 Cr.Accts.Pay.$25 23,Dr.Cash$350 Cr

39、.Accts.Rec.$35024,Dr.Accts.Pay.$250 Cr.Cash$25029,Dr.J.Linda,personal$45 Cr.Cash$4530,Dr.Accts.Rec.$300 Cr.Accounting Revenue$300 Dr.Utility Exp.$30 Cr.Cash$30E3-2 Nice began a new business and during a short period completed these transactions;Began business by investing$20,000 in cash and office e

40、quipment having a$1,000 fair value.Purchased for$10,000 land to be used as an office site and for parking Equipment paid$5,000 in cash and signed a promissory note for the balance.Completed a work for ABC co.$5，000，on credit.Paid the wages of the equipment operator$900.Received$5,000 from ABC co.for

41、 the work of transaction Paid the monthly utility bills of the business,$100.Nice wrote a$120 check on the bank account of the business to pay the electric bill of her personal.Paid cash for three months office rent in advance.$300.Required:make the entries to record the above transactions.Chapter F

42、our Basic Financial Statements1、Words and Phrases:Key words,phrases,and special terms p51 Other income(expense)其他收入（支出）miscellaneous adj.杂项的混合的 concise 简明的简洁的 in contrast to 与对照相比 arrive(at)到达达账结出 reach结账 short-term短期 long-term 长期 long-lived asset=fix asset 固定资产 plant asset厂场资产 settlement 清偿 liquida

43、tion清算 due=maturity到期 discount折扣贴现 contributed capital 投入资本缴入资本approach=method=means=way 方法手段goods=merchandise商品 total总计 合计 subtotal小计 freight in=transportation in（进）运费 freight out=transportation out（出）运费 delivery cost运费provision for 备付 profit-sharing plan （职工）分红计划2.Abbreviation(缩略语）缩略语）Gen.Exp.=Gen

44、eral Expense 总务费 Adm.Exp.=Administration Expense管理费 Sales Dis.=Sales Discount销货折扣 Pur.Dis.=Purchase Discount购货折扣3.Reading Comprehension(Main Points)(1.)Balance sheetAssets=Liabilities+Owners Equity(Stockholders Equity)Assets:1)current assets 2)long-term assets(non-current assets):lfixed assets lInve

45、stment(more than one year)l intangible assetsLiabilities:current liabilities long-term liabilities Owners Equity:(1)contributed capital(2)retained earnings2.Income Statement:uSingle-step approachuMultiple-step approach3.Retained Earnings Statement4.Extending Knowledge _Combined Statement of Income a

46、nd Retained EarningsMultiple-choice question p52 Q4-1.A set of financial statements:a.Is intended to assist users in evaluating the financial position,profitability,and future prospects of an entity,b.Is intended to assist the Internal Revenue Service in determining the amount of income taxes owed b

47、y a business organization,c.Includes notes disclosing information necessary for the proper interpretation of the statements.d.Is intended to assist investors and creditors in making decisions involving the allocation of economic resources.Q4-2.Water world Boat Shop purchased a truck for$12,000,makin

48、g a down payment of$5,000 cash and signing a$7,000 note payable due in 60 days.As a result of this transaction:a.Total assets increased by$12,000.b.Total liabilities increased by$7,000.c.From the viewpoint of a short-term creditor,this transaction makes the business more liquid.d.This transaction ha

49、d no immediate effect on the owners equity in the business.Q4-3.A transaction caused a$15,000 decrease in both total assets and total liabilities.This transaction could have been:a.Purchase of a delivery truck for$15,000 cash.b.An asset with a cost of$15,000 was destroyed by fire.c.Repayment of a$15

50、,000 bank loan.d.Collection of a$15,000 account receivable.Q4-4.Which of the following is(are)correct about a companys balance sheet?a.It displays sources and uses of cash for the period.b.It is an expansion of the basic accounting equation:Assets=Liabilities+Owners Equity.c.It is sometimes referred