专业英语课件（会计专业）

nullnullACCOUNTING ENGLISHTeacher Le NUAA会计专业英语nullPERIOD: 1－16 (WEEK) CLASSES:32 MAJOR:ACCOUNTINGnullTEXTBOOK: 《会计专业英语》，常勋、萧华编，立信会计出版社 REFERENCES: 《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null第一讲，Accounting: An Information System 第二讲，Assets Section of Balance Sheet 第三讲，Liabilities and Owners’Equity Section of Balance Sheet 第四讲，Income Statement 第五讲，Ledger Accounts 第六讲，Journals 第七讲，An Illustration 第八讲，Adjusting Procedures 第九讲，Worksheet 第十讲，Closing ProceduresCONTENTS null 1.Design of textbook: Lessons:17 Reading materials:17 2.Exercises: Matching True-false Choose the best answer Journalizing TranslationIntroduction:null1.Design of textbook 2.Exercises 3. Composition: Financial accounting (15) Managerial accounting(1) Financial management(1)Introduction:nullLearning methods: 注意词汇在专业环境中的含义 熟悉西方会计知识，并与我国相关会计理论和实务进行比较nullLesson one Accounting: An Information Systemnull Discussion: two opinions on AccountingnullIdentification of UsersnullUser Information NeedsIdentification of UsersnullIdentification of UsersUser Information NeedsAccounting SystemnullIdentification of UsersUser Information NeedsAccounting SystemReportsEconomic Data and ActivitiesnullEXTERNAL USERSFinancial Accountinginvestors creditors regulators customers competitorsUsers of Accounting InformationnullEXTERNAL USERSFinancial Accountinginvestors creditors regulators customers competitorsowners managers employeesINTERNAL USERSManagerial AccountingUsers of Accounting Informationnull Financial Accounting Managerial Accounting Objective Standard reporting format according to generally accepted accounting principles Objective and subjectiveFlexible reporting formats according to management needs Reporting Characteristics Reports prepared to provide information about the business as a wholeReports prepared to provide information about business segments, divisions, products, etc.Financial and Managerial AccountingnullLesson two Assets Section of Balance SheetAssets: Current assets Long-term assets nullResourcesThe Accounting Equation What are an organization’s resources called?nullAssetsResources = Sources The Accounting EquationWhat are the sources of the assets?Cost of resources used in the businessnullAssetsLiabilitiesOwner’s EquityResources = Sources Cost of resources used in the businessResources supplied by creditors and ownersThe Accounting EquationnullNetSolutions Balance Sheet November 30, 2002 Assets Cash $5,900 Supplies 550 Land 20,000 Total assets $26,450 Liabilities Accounts payable $ 400 Owner’s Equity Chris Clark, capital 26,050 Total liabilities and owner’s equity $26,450Financial StatementsnullFinancial reports (or financial statements): ——Balance sheet (B.S.) ——Income statement (I.S.) ——Statement of cash flowsnullNetSolutions Statement of Cash Flows For the Month Ended November 30, 2002Cash flows from operating activities: Cash received from customers $ 7,500 Deduct cash payments for expenses and payments to creditors 4,600 Net cash flow from operating activities $ 2,900 Cash flows from investing activities: Cash payments for acquisition of land (20,000) Cash flows from financing activities: Cash received as owner’s investment $25,000 Deduct cash withdrawal by owner 2,000 Net cash flow from financing activities 23,000 Net cash flow and Nov. 30, 2002 cash balance $5,900 Financial StatementsnullLesson three Liabilities and Owners’Equity Section of Balance SheetLiabilities: Current liabilities Long-term liabilitiesnullOwners’ equity: Capital stock Income summary Retained earningsnullNetSolutions Statement of Owner’s Equity For the Month Ended November 30, 2002Financial StatementsChris Clark, capital, November 1, 2002 $ 0 Investment on November 1, 2002 $25,000 Net income for November 3,050 $28,050 Less withdrawals 2,000 Increase in owner’s equity 26,050 Chris Clark, capital, November 30, 2002 $26,050nullnullLesson four Income StatementnullFinancial StatementsNetSolutions Income Statement For the Month Ended November 30, 2002Fees earned $7,500 Operating expenses: Wages expense $2,125 Rent expense 800 Supplies expense 800 Utilities expense 450 Miscellaneous expense 275 Total operating expenses 4,450 Net income $3,050nullFormulations:nullLesson five Ledger AccountsnullDouble-Entry Accounting“ Double-entry accounting is based on a simple concept: each party in a business transaction 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 Pacioli Developer of Double-Entry AccountingScale or BalanceReceive DEBITGive CREDITT accountLeft Side Receive DEBITRight Side Give CREDITnullExpanded Accounting Equation“ The basic accounting equation can be expanded to include all five financial categories indicating what has been received and given.” ExpensesLiabilitiesOwner’s EquityAssetsDEBITS receivedCREDITS given=RevenuesNet IncomenullGeneral Ledger and Subsidiary LedgersSuppliesAccts. Payable General Ledger nullNetSolutions Chart of AccountsBalance SheetIncome Statement1. Assets 11 Cash 12 Accounts Receivable 14 Supplies 15 Prepaid Insurance 17 Land 18 Office Equipment 2. Liabilities 21 Accounts Payable 23 Unearned Rent 3. Owner’s Equity 31 Chris Clark, Capital 32 Chris Clark, Drawing4. Revenue 41 Fees Earned 5. Expenses 51 Wages Expense 52 Rent Expense 54 Utilities Expense 55 Supplies Expense 59 Miscellaneous ExpensenullAccounting 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 accountsnull“Income summary” ——类似于我国会计中的“本年利润”账户nullLesson six Journalsnullnull Post. Date Description Ref. Debit Credit 12/1 Prepaid Insurance 2,400 Cash 2,400 Post. Balance Date Item Ref. Debit Credit Debit Credit 12/1 Account: Prepaid Insurance Account No. 15General JournalGeneral LedgerPage 1Recording and Posting an EntryEnter the transaction date in the ledger account.null Post. Date Description Ref. Debit Credit 12/1 Prepaid Insurance 2,400 Cash 2,400 Post. Balance Date Item Ref. Debit Credit Debit Credit 12/1 1 2,400 Account: Prepaid Insurance Account No. 15General JournalGeneral LedgerPage 1Recording and Posting an EntryEnter the debit amount in the ledger debit column.null Post. Date Description Ref. Debit Credit 12/1 Prepaid Insurance 2,400 Cash 2,400 Post. Balance Date Item Ref. Debit Credit Debit Credit 12/1 1 2,400 2,400Account: Prepaid Insurance Account No. 15General JournalGeneral LedgerPage 1Recording and Posting an EntryUpdate the ledger account balance.null Post. Date Description Ref. Debit Credit 12/1 Prepaid Insurance 2,400 Cash 2,400 Post. Balance Date Item Ref. Debit Credit Debit Credit 12/1 1 Account: Prepaid Insurance Account No. 15General JournalGeneral LedgerPage 1Recording and Posting an Entry4Enter the journal page in the ledger account.null Post. Date Description Ref. Debit Credit 12/1 Prepaid Insurance 15 2,400 Cash 2,400 Post. Balance Date Item Ref. Debit Credit Debit Credit 12/1 1 2,400 2,400Account: Prepaid Insurance Account No. 15General JournalGeneral LedgerPage 1Recording and Posting an EntryEnter the ledger account number in the journal.nullRecording and Posting an Entry Post. Date Description Ref. Debit Credit 12/1 Prepaid Insurance 15 2,400 Cash 11 2,400 Post. Balance Date Item Ref. Debit Credit Debit Credit 11/30 Balance 5,900 12/1 1 2,400 3,500Account: Cash Account No. 11General JournalGeneral LedgerPage 1All five parts of the credit posting are shown.nullnullSpecial JournalsRendering of services on account SELLING Sales Journal Cash Receipts Journal Purchases Journal Cash Payments JournalReceipt of cash from any sourcePurchase of items on accountPayment of cash for any purpose BUYING nullLesson seven An IllustrationTermsnullFreight prepaid (seller) Freight collect (buyer)F.O.B. destination (seller) F.O.B. shipping point (buyer)nullLesson eight Adjusting Proceduresvaluation adjustments(e.g. depreciation) accruals and deferrals adjustmentsnullTWO METHODSReporting Revenue and ExpenseCash Basis of Accounting Accrual Basis of AccountingnullCash Basis of AccountingRevenue reported when cash is received Expense reported when cash is paid Does not properly match revenues and expensesnullAccrual Basis of AccountingRevenue reported when earned Expense reported when incurred Properly matches revenues and expenses in determining net income Requires adjusting entries at end of period nullThe Matching ConceptAssetsLiabilitiesOwner’s EquityDebits = CreditsNet income is determined by properly matching expenses and revenues.ExpensesRevenuesNet Incomematchingnull Apportioning recorded costs—deferred expenses Apportioning recorded revenue—deferred revenue Accruing unrecorded expenses—accrued expenses Accruing unrecorded revenue—accrued revenue nullAdjustments – 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 Revenue Deferrals Accruals nullA deferred item is one for which the cash has been paid or received, but the expense or revenue has not been recognized.A accrual item is one for which the cash has not yet been paid or received, but the expense or revenue has already been recognized.nullAdjustments – 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.....100ExpensesAssetsExample P1 – Purchase initially recorded as an asset.nullAdjustments – Deferred RevenueA3..... 120CashUnearned RentRent RevenueS1..... 360On December 1, NetSolutions received cash of $360 for three months’ rent beginning December 1.Adjustment A3 – Record rent earned for December.S1..... 360A3.....120RevenuesLiabilitiesExample S1 – Sale initially recorded as a liability.nullAdjustments – Accrued ExpenseWages PayableWages ExpenseNetSolutions received employee services for the last two days of December amounting to $250, to be paid later.Adjustment A5 – Record accrued wages of $250.A5..... 250Bal.....4,275ExpensesLiabilitiesA5.....250nullAdjustments – Accrued RevenueAccounts ReceivableFees EarnedAs of December 31, NetSolutions provided 25 hours of services at $20 per hour to be billed next month.Adjustment A6 – Record accrued fees earned of $500.A6..... 500Bal....16,340RevenuesAssetsA6.....500Bal.....2,220nullSummary of AdjustmentsDeferred ExpensesExpensesAssetsDeferred RevenuesRevenuesLiabilitiesBuying SideSelling SideRearranging the DebitsRearranging the CreditsnullSummary of AdjustmentsExpensesLiabilitiesRevenuesAssetsAccrued ExpensesBuying SideSelling SideAdding a New TransactionAdding a New TransactionAccrued RevenuesnullSummary of AdjustmentsDeferred ExpensesExpensesAssetsExpensesLiabilitiesDeferred RevenuesRevenuesLiabilitiesRevenuesAssetsAccrued ExpensesBuying SideSelling SideRearranging the DebitsAdding a New TransactionRearranging the CreditsAdding a New TransactionAccrued RevenuesnullLesson night A Worksheet×× COMPANY WORKSHEETnullThe Work SheetTrial Balance Accounts Dr Cr Dr Cr Dr CrAdjustmentsAdjusted TBPrepared from general ledger. Accounts are listed in order: A, L, OE, R, EnullThe Work SheetAdjustments are entered here. Two possibilities: 1. Deferrals – Existing balances are changed. 2. Accruals – New information is entered.Trial Balance Accounts Dr Cr Dr Cr Dr CrAdjustmentsAdjusted TBnullThe Work SheetAdjustments are combined with the trial balance. Account balances are now adjusted.Trial Balance Accounts Dr Cr Dr Cr Dr CrAdjustmentsAdjusted TBnull1. Transactions are analyzed and recorded in journal.DocumentsJournal2. Transactions are posted from journal to ledger.JournalLedger3. Trial balance is prepared.Journal, Ledger, Trial BalancenullLesson ten Closing Procedures To close sales and related accounts To close purchases and related accounts To close operating expense accounts To close the Income Summary account To close the Drawing accountnullnullWages ExpenseBal. 4,525Rent ExpenseBal. 1,600Depreciation ExpenseBal. 50Utilities ExpenseBal. 985Supplies ExpenseBal. 2,040Insurance ExpenseBal. 100Miscellaneous ExpenseBal. 455Rent IncomeBal. 12016,840 120Income Summary 16,9609,755Chris Clark, Capital Close RevenuesBal. 15,000Chris Clark, DrawingBal. 4,000 Close ExpensesThe Closing Process 7,205 7,205 Close Income SummaryNet Income4,0004,000 Close DrawingDrawingClosedClosednullWages ExpenseRent ExpenseDepreciation ExpenseUtilities ExpenseSupplies ExpenseInsurance ExpenseMiscellaneous ExpenseFees EarnedRent IncomeIncome SummaryChris Clark, CapitalBal. 15,000Chris Clark, Drawing Net Income DrawingBal. 18,205All temporary accounts now have zero balances and are ready for the next accounting period. 7,2054,000The Closing ProcessnullManual Accounting Cycle1. Transactions are analyzed and recorded in journal.DocumentsJournal2. Transactions are posted from journal to ledger.JournalLedger3. Trial balance is prepared, adjustment data is organized, work sheet is completed.4. Financial statements are prepared and distributed.Financial StatementsISSOEBSSCFnull5. Adjusting entries are journalized and posted to ledger.7. Post-closing trial balance is prepared.6. Closing entries are journalized and posted to ledger.Post-closing Trial Balance8. Reports are analyzed and interpreted for decision- making purposes.Assets Liabilities Owner’s EquityManual Accounting Cycle