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1、会计英语会计英语（第四版）（第四版）上海财经大学出版社上海财经大学出版社普通高等教育普通高等教育“十一五十一五”国家级规划教材国家级规划教材高等院校会计专业方向选修课系列教材高等院校会计专业方向选修课系列教材1 1Ye Sun Accounting EnglishYe Sun Accounting EnglishINTRODUCTIONOverview of the CourseCourse ScheduleLearning RequirementsEvaluation-Discussion-Homework-Quiz-Examination2Ye Sun Accounting English
2、Lesson 1 Review of AccountingIntroduction to accounting conceptsAccounting is a service activity that includes the measurement, recording, summarization, and reporting of economic information to external financial statement users to assist in rational investment, credit, and similar decisions. Accou
3、nting is also essential for internal functions of a business.3Ye Sun Accounting EnglishAccountinginformationThe accounting processDecision makersEconomic activitiesActions (decisions)Accounting is an information system.Accounting thinks decision makers with economic activities and with the results o
4、f their decisions.4Ye Sun Accounting EnglishFinancial statementsnThe statement of comprehensive income (income statement) summarizes financial performance resulting from income (revenue and gains) less expenses (including losses).nThe statement of changes in equity reconciles changes in equity (incr
5、eases are caused by owner investments and net income, while decreases result from owner withdrawals and net losses for sole proprietorship ).nThe statement of financial position (balance sheet) details assets, liabilities, and equity.nThe statement of cash flows shows the cash inflows and outflows f
6、rom operating activities, investing activities, and financing activities.5Ye Sun Accounting EnglishUsers of accounting informationnPrimary users investors and creditorsnExternal users & Internal usersnExternal users are users outside of the entitynexamples: banks, government, creditors, unionsnInter
7、nal users are users within the entitynexamples: Marketing Manager, Accounts Receivable Manager, Accounts Payable Manager6Ye Sun Accounting EnglishInternational financial reporting standards & GAAPnGAAPs are established by setting bodies after consultation with various interest groups, such as busine
8、ss owners and other professional accounting bodies. There is a growing trend to adopt accounting standards that are in harmony with international accounting standards. 7Ye Sun Accounting EnglishInternational financial reporting standards & GAAPnAccounting concepts and principles include:nbusiness en
9、titynmonetary unitnobjectivity principlencost principlengoing-concern nrevenue recognition or realization principlentime period nmateriality principlenmatching principlenconsistency principlenconservatism principlenfull-disclosure principle8Ye Sun Accounting English Types of accountantsnThere are th
10、ree basic types of accountants:nPrivate accountants work for a single employer.nPublic accountants are available to the public.nGovernment accountants work for local, provincial, and federal government agencies.9Ye Sun Accounting English Fields of accountingnThere are four broad fields of accounting
11、:nfinancialnmanagerialntaxationnaccounting-related10Ye Sun Accounting English Forms of organizationnSingle or sole proprietorshipnOwner is personally responsible for business debts.nPartnershipnPartners are personally responsible for all partnership debts.nCorporationnA corporation is a separate leg
12、al entity.nIt is responsible for its own debts.11Ye Sun Accounting EnglishThe accounting equationnBusiness transactions always affect at least two elements in the accounting equation. nThe accounting equation is: Assets = Liabilities + Owners equitynAfter a transaction is recorded, the accounting eq
13、uation must be in balance.12Ye Sun Accounting EnglishUsing the accounting equation(1)Recording (2)Reporting(Basic Steps of Accounting Processing)Example 1-2 Page1213Ye Sun Accounting EnglishAn example!14Ye Sun Accounting EnglishLets analyze some transactions for JJs Lawn Care Service.15Ye Sun Accoun
14、ting EnglishOn May 1, 2001, Jill Jones deposited $8,000 in the bank to officially start JJs Lawn Care Service.The Effects of Business Transactions16Ye Sun Accounting EnglishThe Effects of Business Transactions17Ye Sun Accounting EnglishOn May 2, 2001, JJs purchased a riding lawn mower for $2 500 cas
15、h.The Effects of Business Transactions18Ye Sun Accounting EnglishThe Effects of Business Transactions19Ye Sun Accounting EnglishOn May 8, 2001, JJs purchased a $15,000 truck.JJs paid $2 000 down in cash and issued a note payable for the remaining $13 000.The Effects of Business Transactions20Ye Sun
16、Accounting EnglishThe Effects of Business Transactions21Ye Sun Accounting EnglishOn May 11, 2001, JJs purchased some repair parts for $300 on account.The Effects of Business Transactions22Ye Sun Accounting EnglishThe Effects of Business Transactions23Ye Sun Accounting EnglishOn May 18, 2001, JJs sol
17、d half of their repair parts to ABC Lawns for $150, a price equal to JJs cost.JJs will receive the cash within 30 days.The Effects of Business Transactions24Ye Sun Accounting EnglishThe Effects of Business Transactions25Ye Sun Accounting EnglishOn May 25, 2001, ABC Lawns pays JJs $75 as a partial se
18、ttlement of its accounts receivable.The Effects of Business Transactions26Ye Sun Accounting EnglishThe Effects of Business Transactions27Ye Sun Accounting EnglishOn May 28, 2001, JJs pays $150 of its accounts payable.The Effects of Business Transactions28Ye Sun Accounting EnglishThe Effects of Busin
19、ess Transactions29Ye Sun Accounting EnglishOn May 29, 2001, JJs recorded lawn care services provided during May of $750. All clients paid in cash.The Effects of Business Transactions30Ye Sun Accounting EnglishThe Effects of Business Transactions31Ye Sun Accounting EnglishOn May 31, 2001, JJs purchas
20、ed gasoline for the lawn mower and the truck for $50 cash.The Effects of Business Transactions32Ye Sun Accounting EnglishThe Effects of Business Transactions33Ye Sun Accounting EnglishLets review how JJs transactions affected the accounting equation. The Effects of Business Transactions34Ye Sun Acco
21、unting English35Ye Sun Accounting EnglishThese transactions impact the Statement of Cash Flows.These transactions impact the Income Statement.Balance Sheet !36Ye Sun Accounting English Ethics in accountingnAccountants must perform their responsibilities according to the highest ethical standards because many users rely on financial reports. nSome of the basic ethical standards expected of professional accountants include: nconfidentialityncompetencenobjectivitynintegrity37Ye Sun Accounting EnglishEnd of Lesson 138Ye Sun Accounting English
