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ID:39147963
大小:312.41 KB
页数:21页
时间:2019-06-25
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1、财务会计英语FinancialAccountingEnglishGeneralIntroductionToFinancialAccountingTobeginwith,we’dliketomakeageneralintroductiontotheessentialsofaccounting.Thus,accountingelements,accountingequation,Taccountanddouble-entrysystemTheledgerandchartofaccounts,journalizingandpostingareintroducedinthispa
2、ssage.Thepurposeofthisageistopavethewayforthestudyofthiscourse.TheaccountingequationshowstheBasicrelationshipbetweentheaccountingelementsi.e.thebalancepositionofassetsononesidewhereasliabilitiesandowner’sequityontheotherside.sotheaccountingequationis:Assets=Liabilities+Owner’sequityAccoun
3、tingelement:AssetLiabilityOwner’sequityRevenueExpenseProfitAccrualvsCashAccountingAccrualAccounting权责发生制.ImpactofbusinesstransactionsarerecordedwhenthetransactionoccursRevenuesarerecognizedwhenearned.Expensesarerecognizedwhenincurred.CashAccounting收付实现制.Transactionsarerecordedwhencashisre
4、ceivedorpaid.Revenuesarerecordedwhencashisreceived.Expensesarerecordedwhencashispaid.Underaccrualaccounting,cashtransactionsarerecordedaswellasnoncashtransactionssuchas:PurchasesofinventoryonaccountSalesonaccountDepreciationexpenseAccrualofexpensesincurredbutnotyetpaidUsageofprepaidrent,i
5、nsurance,andsuppliesThedefinitionofaccrualbasisAccrualbasisisasystemofaccountingthatmatchesrevenuesandexpenses,respectively,totheperiodtheywereearnedandincurred.Underaccrualbasicaccounting,revenueisrecordedwhenproductishippedorserviceprovided.Similarly,accrualbasisaccountingrequiresexpens
6、esberecordedintheperiodinwhichtherelatedrevenueswererecognized.Accrualbasisaccountingdiffersfromcashbasisaccounting,whererevenueandexpensearerecordedwhencashisreceivedorpaid.Time-PeriodConcept.会计期间Thetime-periodconceptensuresthataccountinginformationisreportedatregularintervals.Basicaccou
7、ntingperiodis1yearAfiscalyearendsonadateotherthanDecember31.Interimfinancialstatementsareusuallypreparedforperiodssuchasamonth,aquarter,orsemiannualperiod.Time-PeriodConceptAfiscalyearendsonadateotherthanDecember31.Mostretailers,includingWal-MartandJ.C.Penney,useafi
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