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1、会计英语1－10课Text1AccountingandItsEnvironmentDevelopanaccountingvocabularyfordecisionmaking.Accountingisasystemformeasuring,processing,andcommunicatingfinancialinformation.Asthe“languageofbusiness,”accountinghelpsawiderangeofdecisionmakers.Accountingdatesbackstoancientcivilizations,butitsimportancetos
2、ocietyhasbeengreatestsincetheIndustrialrevolution.Applyaccountingconceptsandprinciplestoanalyzebusinesstransactions.Thethreebasicformsofbusinessorganizationaretheproprietorship,thepartnership,andthecorporation.Whatevertheform,accountantsusetheentityconcepttokeepthebusiness’srecordsseparatefromthep
3、ersonalrecordsofthepeoplewhorunit.Accountantsatalllevelsmustbeethicaltoservetheirintendedpurpose.Generallyacceptedaccountingprinciples(GAAP)guideaccountantsintheirwork.Amongtheseguidelinesaretheentityconcept,thereliabilityprinciple,thecostprinciple,thegoing-concernconcept,andthestablemonetary-unit
4、concept.Usetheaccountingequationtodescribeanorganization’sfinancialposition.Initsmostcommonform,theaccountingequationisAssets=Liabilities+Owner’sEquity.Usetheaccountingequationtoanalyzebusinesstransactions.Transactionsaffectsabusiness’sassets,liabilities,andowner’sequity.Therefore,transactionsarea
5、nalyzedintermsoftheireffectontheaccountingequation.Preparethefinancialstatements.Thefinancialstatementscommunicateinformationfordecisionmakingbytheentity’smanagers,owners,andcreditorsandbygovernmentagencies.Theincomestatementpresentsavideooftheentity’soperationsintermsofrevenuesearnedandexpensesin
6、curredduringaspecificperiod.Totalrevenuesminustotalexpensesequalnetincome.Netincomeornetlossanswersthequestion,Howmuchincomedidtheentityearn,orHowmuchlossdiditincurduringtheperiod?Thestatementofowner’sequityreportsthechangesinowner’sequityduringtheperiod.Thebalancesheetprovidesaphotographoftheenti
7、ty’sfinancialstandingintermsofitsassets,liabilities,andowner’sequityataspecifictime.Itanswersthequestion,Whatistheentity’sfinancialposition?Thestatementofcashflowsreportsthecashcominginandthecashgoingoutduringthe
