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1、专业主义-财务管理英语 财务管理专业英语 Chapter 1 ACCOUNTING IN ACCTION 1Study objectives After studying this chapter you should be able to 1Understand the information system of accounting 2Use some accounting elements 3Explain the meaning of the monetary unit assumption and the economic entity assumption 4State the b
2、asic accounting equation and explain the meaning of assets liabilities and owners equity 5Understand what the four financial statements are and how they are prepared 2vocabulary 1 General accepted accounting principles 公认会计原则 GAAP the accounting profession has developed standards that are generally
3、accepted and universally practiced This common set of standards is called generally accepted accounting principle GAAP these standards indicate how to report economic events two organization are primarily responsible for establishing GAAP The first is financial Accounting Standards Board FASB 财务 会计准
4、则委员会 The second standards-setting group is the Securities and Exchange Commission SEC 证券交易委员会 Americans three-tiered structure in accounting 美国会计部门体系的三个层次three-tiered structure 国会Congress - 证券交易委员会 SEC - FASB 由FASB在各种会计期刊上来发布各种会计准则Issues pronouncements on various accounting issues 美国国会支配SEC 和FASB而SE
5、C又支配FASB但FASB遭到破坏 undermining 的情况很少相反如果FASB发布的会计准则是错误的话 那么来自企业的压力就会波及到全部的三个层次因此会计准则的制订工 作是一项复杂的过程 complex process 一项会计准则 accounting principle 的制订 setting 牵涉到方方面面的利益 interactions among the affected parties 政府公共部门 public regulators Congress and SEC 民间私立组织 Private regulator FASB 企业companies 跟会计职业有关的人 t
6、hose in the public accounting profession AICPA 投资者 investors 和其他l利益相关 群体 other interested groups 2 GAAP Cost principle 历史成本原则 Matching principle配比原则 Full-disclosure principle 充分披露原则 Consistency principle 一贯性原则 Materiality principle 重要性原则 Conservatism principle 谨慎原则 Relevance 相关性 Objectivity 客观性 Feas
7、ibility 可行性 3 assumption Monetary Unit Assumption-货币计量假设 Economic Entity Assumption会计主体假设 Going-concern Assumption 持续经营假设 Time period assumption 会计分期假设 4 three forms of business enterprise Proprietorship 独资企业 a business owned by one person is generally a proprietorship The owner is often the manager
8、operator of the business Partnership 合伙企业 A Business owned by two or more persons associated as partners is a partnership Corporation 公司 A business organized as a separate legal entity under state law and having ownership dividend into transferable shares of stock 5 accounting elements and financial
9、 statements Asset 资产 Liability 负债 Owners equity capital 所有者权益 Revenue 收入 Expense 费用 Income 收益 Income statement profit and loss account 利润 表 Balance sheet 资产负债表 Cash flow statement 现金流量表 Debit 借方 Credit 贷方 Rules of debits and credits 借贷规则 Cash 现金 Cash in bank 银行存款 Receivable 应收款项 Prepaid expense 预付费用
10、 Payable 应付款项 Unearned revenue 预收收入 Investment 投资 Withdrawal 提存 5 The accounting profession Public accounting CPA certified public accountant Taxation Management consulting Private accounting General accounting Cost accounting Budgeting Accounting information systems Tax accounting Internal auditing
11、 Not-for-Profit Accounting At the federal level the largest employers of accountants are Internal Revenue Service 国内收入总署美 General Accounting Office GAO 审计总署美 Federal Bureau of Investigation 联邦调查局美 Securities and Exchange Commission证券交易委员会美 4Basic accounting equation ASSETS Liability Owners Equity As
12、set cash on hand in bank receivables prepaid expenses insurance rent taxes office supplies Equipment buildings land Liability Payables unearned revenues other liabilities wages taxes interest Owners equity Capital account withdrawals account 5Transaction analysis Transaction 1 Initial investment by
13、owners 400000 cash Analysis The asset Cash is increased The stockholders equity Paid-in-capital is increased Journal Entry Cash 400000 Paid-in-capital 400000 Transacton 2 Loan from bank 100000 Analysis The asset Cash is increased The liability Short-term loan is increased Journal Entry Cash 100000 Short-term loan 100000 Transaction 3 Acquired inventory
