會計英文單詞課件

1、Lesson oneLesson ThreeAccounting EnglishLesson Three L & Equity SectionBalance sheetAssetsLiabilitiesOwners EquityAccounting EnglishLesson Three L & Equity SectionCreditorShareholderInvested CapitalDebtStockCreditors Equity (claim on assets)Owners Equity(Residual claim)Accounting EnglishLesson Three

2、 L & Equity SectionTextLiabilitiesCurrent L.Long-term L.TextAccounts payableAccrued wages & Salaries payableSales & excise taxes payableIncome or property taxes payableshort-term notes payableDividends payableEstimated or accrued liabilities Long-term notes,MortgagesBonds payableAccounting EnglishLi

3、abilitiesOwners equityAssetsLesson Three L & Equity SectionAccounting EnglishLesson Three L & Equity SectionBalance sheetAssetsLiabilitiesOwners EquityPrincipal differences for different forms of business organizationAccounting Englishdifferent forms of business organizationSole ProprietorshipPartne

4、rshipcorporationPrincipal difference in the owners equity Accounting Englishpartnership Single proprietorshipCorporationDo not have to distinguish between amounts invested by owners and undistributed earningsSegregate the capital stock and any retain earningsAccounting EnglishLesson Three L & Equity

5、 SectionAssetsOwnersEquity?Accounting EnglishLesson Three L & Equity SectionDividends Payable Retain EarningsAccounting EnglishLesson Three L & Equity SectionDividends payable AssetsQuestionsWhat are the liabilities?What are the owners equity?When the owners of a business withdraw cash, do the withd

6、rawals appear as expenses on the income statement? Explain.List some examples of current liabilities and long-term liabilities.Accounting EnglishLesson Three Exercise Liabilities, or creditors equity ,are the obligations ,or debts, that the firm must pay in money or services at some time in the futu

7、re .Accounting EnglishaWhat are the liabilities?Lesson Three Exercise Owners equity is defined as the differences between the assets and the liabilities, and is often referred to as a residual claim a claim to the assets remaining after the debt to creditors has been discharged.Accounting EnglishbWh

8、at are the owners equity?Lesson Three Exercise No. These withdrawals do not appear as expenses in the income statement because they are made for the owners personal use or to engage in other business activities Such withdrawals will reduce both the assets and the owners equity Of the business at the

9、 same timeAccounting EnglishcWhen the owners of a business withdraw cash, do the withdrawals appear as expenses on the income statement? Explain.Lesson Three Exercisecurrent liabilities :Accounts payableAccrued wages & Salaries payableSales & excise taxes payableIncome or property taxes payableshort

10、-term notes payableDividends payable Accounting Englishd. List some examples of current liabilities and long-term liabilities.long-term liabilities:Long-term notesMortgagesBonds payableLesson Three Exercise The declaration of a dividend reduces the retained earnings portion of the owners equity and

11、creates a liability called dividends payable on a corporations balance sheet.Accounting EnglisheState the effect on the corporations balance sheet of the declaration of a dividend.Lesson Three ExerciseThe payment of a dividend eliminates the liability and reduces assets (usually cash).Accounting Eng

12、lishfState the effect on a corporations balance sheet of the payment of a dividend.Lesson Three ExerciseAccounting English g. Prepare a statement of owners equity for Advertising Service using the data given below: K. Menton, Capital (Jan. 1, 2006) USD 350 000 Additional Investments during the Year

13、50 000 Withdrawals during the Year 80 000 Net Income for the Year 220 000Lesson Three Exercise g. Advertising Service Company statement of owners equity For the Year Ended Dec.31,2006 K. Menton, Capital (Jan. 1, 2006) USD 350 000 Add: Additional Investments during the Year 50 000 Net Income for the

14、Year 220 000 270 000USD 620 000 Less: Capital Withdrawals during the Year 80 000 K. Menton, Capital (Dec. 31, 2006) USD 540 000 Accounting EnglishThank You!TestTranslation:Information system ; managerial accounting; balance sheet; income statement ;accounts payable; retained earning； capital stock；

15、liquidity 納稅申報單；財務會計；現(xiàn)金流量表；應付股利；累計折舊；資產(chǎn)負債所有者權益；賬面價值Accounting EnglishLesson oneLesson FourLesson Four Income StatementAccounting EnglishIncomestatementis designed to portray the operating results for a period of time.Accounting EnglishLesson Four Income StatementRevenueCost of goods soldOperating ex

16、pensesLesson Four Income StatementAccounting EnglishGross ProfitNet Profit Net Sales Gross Sales Sales Returns and Allowances Sales DiscountNet Sales Cost of Goods Sold Gross Profit Operating Expenses Accounting EnglishLesson Four Income StatementSalesSales Returns & AllowancesNet Sales-=Accounting

17、EnglishLesson Four Income StatementTextTextCost of goods soldNet PurchasesBeginning inventory+Ending inventory-Transportation In(Purchases Discounts)(Purchases Returns & Allowance)PurchasesAccounting EnglishLesson Four Income StatementNet SalesGross Profit on SalesNet Income for the periodLess: cost

18、 of goods soldLess: Operating expensesAccounting EnglishAccounting EnglishLesson Four Income StatementDo u know the relationship between the IS & BS?The net profit is transferred to the balance sheet of the business as part of the proprietors capital. .I see.Accounting EnglishLesson Four Income Stat

19、ementProfit and loss account for the year ended mTurnover X Cost of sales (X) Gross profit X Distribution costs (X)Administrative expenses (X) Operating profit X Interest payable (X) Investment income X Profit on ordinary activities before taxation X Taxation (X) Profit on ordinary activities after

20、taxation X Extraordinary items (X) Profit for the financial year X Dividends paid and proposed (X) Retained profit for the financial year X UK formatAccounting EnglishLesson Four Income StatementIncome statement for the year ended. $m Revenue X Cost of sales (X) Gross profit X Distribution costs (X)

21、 Administrative expenses (X) Profit from operations X Finance cost (X) Investment income X Profit before tax X Income tax expense (X) Net profit from ordinary activities X Extraordinary items (X) Net profit for the year X International FormatLesson Four Income StatementAccounting EnglishiiiiiiGross

22、profit*Gross profit = sales less cost of salesPlus any other income from sources other than the sales of goodsMinus other expenses of the business, not included in the cost of goods soldNet profit is:Lesson Four ExerciseIncome statement is prepared to present the operating results of an organization

23、 for a particular period. Accounting EnglishaWhat are the purpose of an income statement?Lesson Four ExerciseThey are revenue, cost of goods sold and operating expenses.Accounting Englishb. What are the major categories of the income statement for a merchandising company?Lesson Four ExerciseGross sa

24、les =quantities selling price per unitAccounting EnglishNet sales =gross salessales returns and allowances sales discountsc. Differentiate the gross sales and net sales.Lesson Four ExerciseCost of goods available for sale= beginning inventory +net purchases + transportation inAccounting Englishd. Di

25、fferentiate the cost of goods available for sales and cost of goods sold.Cost of goods sold= Cost of goods available for sale ending inventoryLesson Four Exercisetransportation in list under the item “cost of goods sold”Accounting Englishe. Explain the appropriate treatment of the items “transportat

26、ion in” and “transportation out” in the income statement.transportation out list under the item “selling Expenses”Lesson Four ExerciseA companys short-term liquidity refers to its ability to meet short-term obligations.It can be measured in terms of following ratios: current ratio and quick ratio.Ac

27、counting EnglishfWhat is the “short-term liquidity”? And how to measure it?Lesson Four Exercise (g)g. Identify the following as selling or administrative expense items.1) Sales salaries expense2) Office salaries expense3) Depreciation for delivery equipment4) Depreciation for office equipment5) Adve

28、rtising expense6) Utilities expense7) Supplies expense8) Transportation out9) Rent expenseAccounting EnglishLesson Four Exercise g. Accounting EnglishSelling Expense 1) Sales salaries expense3) Depreciation for delivery equipment5) Advertising expense8) Transportation outAdministrative Expense 2) Of

29、fice salaries expense4) Depreciation for office equipment6) Utilities expense7) Supplies expense9) Rent expenseLesson Four Exercise (h) Accounting English He rented the van at a cost of $1,000 for three month. Running expenses for the van averaged $300 per month. He hired a par time helper at a cost

30、 of $100 per month. He borrowed $2,000from his bank, and the interest cost of the loan was $25 per month. His main business was to sell ice cream to customers in the street, but he also did some special catering for business customers, supplying ice creams for office parties. Sales to these customer

31、s were usually on credit. for the three months to 31 August 20X8, his total sales were as follows: (i) cash sales $8,900 (ii) credit sales $1,100On 1 June 20X8, Jock Heiss commenced trading as an ice cream salesman, using a van which he drove around the streets of his town.Lesson Four Exercise (h)Ac

32、counting English He purchased his ice cream from a local manufacturer, Floors Co. The cost of purchases in the three months to 31 August 20X8 was $6,200, and at 31 August he had sold every item. He still owed $700 to Floors Co for unpaid purchases on credit. One of his credit sale customers has gone

33、 bankrupt, owing Jock $250. Jock has decided to write off the debt in full, with no prospect of getting any of the one owed. He used his own home for his office work. Telephone and postage expenses for the three months to 31 August were $150. During the period he paid himself $300 per month.On 1 Jun

34、e 20X8, Jock Heiss commenced trading as an ice cream salesman, using a van which he drove around the streets of his town.RequiredPrepare an income statement for the three month 1 June to 31 August 20X8.Lesson Four Income Statement Exercise 1 (4) Accounting English He rented the van at a cost of $1,0

35、00 for three month. Running expenses for the van averaged $300 per month. (b) He hired a par time helper at a cost of $100 per month.(c) He borrowed $2,000from his bank, and the interest cost of the loan was $25 per month.On 1 June 20X8, Jock Heiss commenced trading as an ice cream salesman, using a

36、 van which he drove around the streets of his town.Interest charges 253Lesson Four Income Statement Exercise 1 (5) Accounting English His main business was to sell ice cream to customers in the street, but he also did some special catering for business customers, supplying ice creams for office parties. Sales to these customers were usually on credit.(e) For the three months to 31 August 20X8, his total sales were as follows: (i) cash sales $8,900 (ii) credit sales $1,100On