实用会计英语(1).ppt

书名：实用会计英语（第2版）ISBN：978-7-111-45346-8作者：郭梅出版社：机械工业出版社本书配有电子课件,实用会计英语,（第二版）主编：郭梅 郭丽芳,Unit 1 General Introduction to Accounting,Study Objective,Explain what accounting is.Explain the history of accounting.Identify users and uses of accounting.Explain the accounting assumption.Understand the accounting working principles.,Do you know why does the accountant know the exact number of the sheep?How does the shepherd know the accountants job?What is accounting?,Feature Story,1.1 Origin and Development of Accounting,Function of accounting Ancient Accounting Accounting in Modern Times,Accounting is a basic and vital element in every modern business.Accounting links decision makers with economic activities and(with)the results of their decisions.,Function of accounting,4000 B.C.,Babylonians were big on recording things in detailed accounts.,Ancient Accounting,Luca Pacioli published first textbook describing a comprehensive double-entry bookkeeping system.,4000 B.C.,1494,Ancient Accounting,The first known English book on the science of accounting was published.,A profitable Instrument to learn to know the order of the bookkeeping records,called Debit and Credit.,4000 B.C.,1494,1543,Ancient Accounting,A book complete treatise on accounting science was published,named The Merchants Mirror.,4000 B.C.,1494,1543,1635,Ancient Accounting,The specialized field of cost accounting emerged to meet the need for the analysis of various costs and for recording techniques.,4000 B.C.,1494,1543,1635,1900s,Accounting in Modern Times,Accounting is in an age of rapid transition.,4000 B.C.,1494,1543,1635,1900s,2000s,Accounting is moving away from its traditional procedural base towards a role which emphasizes its social importance.,Accounting in Modern Times,1.Sole Proprietorship Enterprises,2.General Partnership Enterprises,3.Limited Liability Partnership Enterprises,4.Corporation Limited,Accounting Entity,1.2 Accounting Entity,Owned by one personSimple to establishOwner controlledTax advantages,Sole Proprietorship Enterprises,Owned by more than one personSimple to establishShared controlBroader skills and resourcesTax advantages,General Partnership Enterprises,Limited Liability Partnership Enterprises,Only for certain occupations Limited liability for partnership debts and obligations Also a limitation on participation in management,Organized as a separate legal entity and owned by stockholdersEasy to transfer ownershipEasier to raise fundsNo personal liability,Corporation,1.3 Accounting Assumptions,Accounting Entity AssumptionGoing Concern AssumptionMoney Measurement AssumptionAccounting Period Assumption,Accounting Entity Assumption,Going Concern Assumption,Money Measurement Assumption,Accounting Period Assumption,Quality Requirements of Accounting Information,The Objectivity Principle The Comparable Principle The Pertinence Principle The Timeliness Principle,Quality Requirements of Accounting Information,5.The Full Disclosure Principle6.The Prudence Principle 7.The Materiality Principle8.The Realization Principle,Accounting is basic and vital in modern business.The bookkeeping method is used to make financial record of business transactions and prepare statements concerning assets,liabilities and operating results of a business.,3.The most fundamental concepts for recording business are accounting assumptions and quality requirements of accounting information.,2.Every accounting entity is going in for the economic activities expressed in currency.,Brief Summary,Unit 2 Accounting Equation and Double-entry,Study Objective,Describe the chart of accounts and recognize commonly used accounts.Define double-entry system and state the rules for double entry.State all the steps in the accounting cycle.Apply the steps for transaction analysis and processing to simple transactions.,Why does the accountant mark the drawers with DEBIT and CREDIT?What is the meaning of that?,Feature Story,What is Chart of Account Title?Chart of Account TitleWhat are the types of accounts?,2.1 Accounting Title and Accounts,What is Chart of Account Title?,A chart of account title is simply a list of your accounts and is kept by every business to record and follow specific entries.,Chart of Account Title,There are two parts in the chart of account title.One is account numbers,the other is account titles.,What is an Account?,An account is the basic storage unit for data in accounting for business transactions.,There are separate accounts for the items we used in transactions such as cash,salaries expense,accounts payable,etc.,Three parts:1)the Title of the account 2)a left or Debit side 3)a right or Credit sideThe alignment of these parts resembles the letter T=T account,What is an Account?,If the greater sum is on the left,the account has a Debit Balance.,Total the Entries to Each Side,If the greater sum is on the right,the account has a Credit Balance.,Total the Entries to Each Side,What are the Types of Accounts?,General Ledger Accounts The general ledger is a summary of all of the transactions that occur in the company.,What are the Types of Accounts?,Subsidiary Ledger Accounts Each subsidiary ledger account(SL)is identified with a general ledger account(GL)through use of an attribute known as the account number.There are two possible types of GL/SL relationships.One GL to One SLOne GL to Many SLs,2.2 Accounting Elements and Accounting Equation,Accounting ElementsAccounting Equation,Accounting Elements,Accounting elements are a basic classification of accounting objectives,and embody the object of accounting practices.,Accounting Elements,Liabilities,Owners Equity,Revenue,Profit,Accounting Elements,Assets,Expenses,Accounting Elements,Assets Assets are resources owned by a business.They are used in carrying out such activities as production,consumption and exchange.,Accounting Elements,Liabilities Liabilities are creditor claims against assets.Liabilities are existing debts and obligations.,Accounting Elements,Owners Equity Owners Equity refers to the interest of the investors remaining in the net assets of an enterprise.,Revenue Revenue refers to the financial inflows to an enterprise as a result of the sale of goods and services,and other business activities of the enterprise.,Accounting Elements,Expenses Expenses refer to the outlays incurred by an enterprise in the course of production and operation.,Profit Profit is the operating results of an enterprise in an accounting period.,Accounting Equation,Assets=Liabilities+Owners Equity,A=L+OE,equal debits and credits made accounts for each transaction total debits always equal the total creditsaccounting equation always stays in balance,Accounting Equation,Assets=Liabilities+Owners Equitybeg+(Revenue Expenses),Assets+Expenses=Liabilities+Owners Equitybeg+Revenue,Assets=Liabilities+Owners Equity,2.3 Double Entry,Definition of Double-Entry AccountingRules of Double-Entry Accounting,Double entry book keeping is a method of recording transactions,which allows a check on accuracy of the recording.,Definition of Double-Entry Accounting,Rules of Double-Entry Accounting,Rule 1.The duality rule Rule 2.The directional ruleRule 3.Debit is on the left and credit is on the right,Rule 1.The duality rule,Debit is on the left and credit is on the right,Debits,Increase assets and expenses Decrease liabilities,Owners Equity and revenues,Rule 2.The directional rule,Decrease assets and expensesIncrease liabilities,Owners Equity and revenues,Credits,Rule 2.The directional rule,Rule 3.Debit is on the left and credit is on the right,There is at least one debit and one credit for each transaction.,2.4 Accounting Cycle,What is the accounting cycle?Accounting Cycle Steps,What is the accounting cycle?,The accounting process is a series of activities that begins with a transaction and ends with the closing of the books.This process is repeated each reporting period,so it is referred to as the accounting cycle.,Accounting Cycle Steps,Step 1:Transactions are analyzed on original vouchers and are recorded in recording vouchers.Step 2:Information is transferred from the recording vouchers to the subsidiary ledger accounts.Step 3:Prepare a trial balance from the account balance in the subsidiary ledger.,Accounting Cycle Steps,Step 4:Information is transferred from the subsidiary ledger accounts to the general ledger accounts.Step 5:Adjusting entries are made to bring the balances of some accounts to their proper amounts.Step 6:Prepare financial statements.Step 7:Make closing entries.,End,Begin,Accounting period,AdjustingEntries,FinancialStatements,Closing Entries,Start over,7,6,5,TrialBalance,recorded in recording vouchers.,Post tosubsidiary Ledger,3,Accounting Cycle Steps,general ledger,1,2,4,End of the year,Accounting year,1.An accounting system is comprised of accounting records(checkbooks,journals,ledgers,etc.)and a series of processes and procedures.,3.The accounting equation:Assets=Liabilities+Owners equity.,5.The accounting process is a series of activities that begins with a transaction and ends with the closing of the books.,2.Accounting elements are basic classification of accounting objectives,and embody the object of accounting practices.,4.The Double Entry:Debit is on the left and credit is on the right,Brief Summary,