《会计英语整理》PPT课件.ppt

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1、double-entry bookkeepingaccounting cycle/processfinancial statementaccounting equationassetliabilityowners equityrevenueexpensedividendretained earningnet income(loss)entry,复式簿记会计循环财务报表会计恒等式资产负债所有者权益收入费用股利留存收益净利润/净损失分录,Recording Phase,Relevant Glossary,business/source documentdebitcreditjournalspeci

2、al(general)journalcomputerized accounting systemchart of accountledgergeneral(subsidiary)ledgerposttrial balancebalance sheetincome statementaccounting period,业务凭证/原始凭证借（方）贷（方）日记账特种(普通)日记账电算化会计系统账户表分类账总(明细)分类账过账试算平衡表资产负债表收益/利润表会计期，会计年度,Relevant Glossary(2),Recording Phase,Step 1Analyzingbusinessdocu

3、ments,Step 3Posting toledgeraccounts,Step 2Journalizingtransactions,financial positionadjusting entriesprepaid expensedepreciation expenseaccumulated depreciationunearned revenueaccrued expensenominal(temporary)accountreal(permanent)accountcloseproprietorshippartnershippost-closing trial balance,财务状

4、况调整分录预付费用折旧费用累计折旧预收收入应计费用虚账户（临时账户）实账户（永久账户）结账 所有权，独资合伙结账后试算表,1-2 Reporting Phase,Relevant Glossary,A list of the account titles in the ledger with their respective debit and credit balancesWhy we need a trial balance?To serve as a general check to determine if the debits and credits in the general l

5、edger are equal.To show all general ledger account balances on one concise record.,Trial balance,Knowledge Points,Possible errors even a trial balance does balance:Failing to record or enter a particular transaction.Entering a transaction more than once.Entering one or more amounts in the wrong acco

6、unts.Making a compensating error that exactly offsets the effect of another error.,Trial balance(continued),Four types of adjusting entries:Apportioning recorded costs(prepaid expense,depreciation expense);Apportioning recorded revenue(unearned revenue);Accruing unrecorded expense(accrued expense);A

7、ccruing unrecorded revenue(accrued revenue).Accrual Basis V.S.Cash Basis accounting 权责发生制 收付实现制,Adjusting Procedures,Revenue is recognized when earned rather than when cash is collected and expenses are recognized when goods and services are used rather than when they are paid for.,Revenue is recogn

8、ized when money is received and expenses are recognized when money is paid.,Normal accounts and real accounts,Closing Procedures,Income statement accounts,Balance sheet accounts,Basic principles:historical cost 历史成本原则revenue realization 收入实现原则matching 配比原则consistency 一致性原则full disclosure 充分披露原则objec

9、tivity 客观性原则GAAP must be followed by publicly owned corporations:auditingGAAP are changed and refined.,Business(source)document,Offering detailed informationAssigning responsibilityVerifying the accounting records,11,financial reportaccounting calculationoperating resultcash flow statementnotes to t

10、he financial statementcreditorsgovernment departmentfinance and security institutionmanagementAccounting Standards for Business Enterprise,财务报告会计核算经营成果现金流量表会计报表附注债权人政府职能部门金融和证券机构（企业）管理层企业会计准则,2-1 Introduction,Relevant Glossary,12,shot-term liquiditylong-term solvencycapital structure profitabilitywo

11、rking capitalcontingencyaccount formreport form“T”account,2-1 Introduction,Relevant Glossary,短期偿债能力长期偿债能力资本结构盈利能力营运资本，营运资金或有事项账户式报告式 T形账,13,accounting treatmentcurrent periodprior periodunusual itemshistorical costmarket valuemeasurement currencyinflationpurchasing power,2-1 Introduction,Relevant Gl

12、ossary,会计处理当期 前期非常项目历史成本市场价值（市价）计量货币通货膨胀购买力,14,short-term investmentnotes/accounts receivableprovision for bad debtsnet valuefixed assetconstruction in progressdeferred tax on debit/creditshort-term loans(payable)notes/accounts payable,短期投资应收票据/账款坏账准备净值固定资产在建工程递延税款借项/贷项短期借款应付票据/账款,2-2 The Balance Sh

13、eet and Notes to the Financial Statements,Relevant Glossary,15,advances from customersaccrued payroll/welfaredividends/profits payabletaxes payable other dutiableestimable liabilitiesprovision for expensespaid-in capitalcapital reservesurplus reserveundistributed profit,Relevant Glossary(2),预收账款应付工资

14、/福利费应付股利/利润应交税金其他应交款预计负债预提费用实收资本资本公积盈余公积未分配利润,16,To help explain,evaluate and predictshort-term liquiditycapital structure and long-term solvencythe operating performance,The Functions of the Balance Sheet,Knowledge Points,17,allowing the users to tell at a glance that total assets are being finance

15、d by two sourcesby the creditors and by the owners.Assets=Liabilities+Owners equity,Form of the Balance Sheet,Account Form,Report Form,allowing the users see clearly that owners equity,the difference between assets and liabilities,is the residual claim to the equity of a business.Assets-Liabilities=

16、Owners equity,18,Limitation of the Balance Sheet,Cannot reflect the current value of a businessElements reported at historical costthe measurement currency is instableAll companies do not classify and report all like items similarly:incomparable between different companiesSome relevant information i

17、s omitted,19,profit distributionrealization conceptrevenue recognitionIASB:International Accounting Standard BoardFASB:Financial Accounting Standard Boardconceptual frameworkmatching concept,利润分配实现原则收入确认国际会计准则理事会（美国）财务会计准则委员会概念框架配比原则,2-3 The Income Statement,Relevant Glossary,20,direct matchingdepre

18、ciation and amortizationexpenditureoperating revenue/costoperating taxes and surchargesselling expenseadministrative expensefinancial expensenon-operating income/expenseincome taxsingle-step form multiple-step form,Relevant Glossary(2),直接配比折旧与摊销支出，花费营业收入/成本营业税金及附加销售费用管理费用财务费用营业外收入/支出所得税单步式多步式,21,To

19、help explain,evaluate and predict the operating results and profitability;To help explain,evaluate and predict solvency;To help the management make operating decisions;To help evaluate the managements performance.,The Functions of the Income Statement,Knowledge Points,22,Simple and convenient to pre

20、pare,butFails to disclose some important information,and is inconvenient to compare and analyze.,Form of the Income Statement,Single-step Form,Multi-step Form,Provides more comprehensive information about the formation of profit,and is convenient to compare and analyze;but May leads to misunderstand

21、ing sources of income or loss and is difficult to hold unified views on items classification.,23,Cash receipts and cash disbursements/paymentsCash equivalentliquidityOperating/investing/financing activityWorking capitaldepositFinancial instrumentEquity financingDebt financingDirect methodIndirect me

22、thodnoncurrent,现金收支现金等价物流动性，变现能力经营/投资/筹资活动营运资本，营运资金存款，押金，保证金金融工具权益融资债务融资直接法间接法非流动的,2-4 The Statement of Cash Flows,Relevant Glossary,24,Sometimes net income doesnt tell us accurately the economic performance of a company for a period.The CF statement can provide additional information about 3 catego

23、ries of activities.Pro-forma CF statement can help us analyze whether the plans are consistent and workable.,Why we need the Statement of CF?,Knowledge Points,25,The Structure of CF statement,CF from operating activitiesCash inflow:providing goods and services Cash outflow:purchasing inventory;payin

24、g wages,taxes,utilities,rent,etc.CF from investing activitiesCash inflow:selling long-term assets,financial instruments not intended for trading purposes;collecting loans,26,Cash outflow:purchasing long-term assets,financial instruments not intended for trading purposes;making loansCF from financing

25、 activitiesCash inflow:obtaining cash from owners(issuing shares)and creditors(borrowing)Cash outflow:repaying cash to owners(paying dividends and profit)and creditors(paying debt and interest expense),The Structure of CF statement,27,CF From Operating Activities,Direct method Operating inflows-Oper

26、ating outflows=Net cash flow from operationsAdvantages:intuitively understandable.Disadvantages:not suggest why the net operating CF differs from the net income.,An illustration,28,operating cyclecurrent assetsintangible assetsreceivablesprepaymentsinventoryfinished goodssemifinished goodsgoods in p

27、rocessContainerLow-value and perishable articles,经营周期流动资产无形资产应收款预付款存货产成品半成品在产品包装物低值易耗品,3-1 Assets,Liabilities and Equity,Relevant Glossary,29,specific identificationfirst-in first-out(FIFO)last-in first-out(LIFO)weighted averagemoving averagelower of cost or market(LCM)shares investmentbonds investm

28、entcost methodequity method,Relevant Glossary(2),个别计价法先进先出法后进先出法加权平均法移动平均法成本与市价孰低法股权投资债券投资成本法权益法,30,at a premium or discount/in premium or discountface value/par valueprincipalinterestfixed assets financed by leasingresidual valuestraight line methodworking capacity(or output)methodaccelerated depre

29、ciation method,Relevant Glossary(3),溢价或折价发行票面价值，面值本金利息融资租入固定资产残值直线法工作量法（产量法）加速折旧法,31,patentnonpatented technologytrademarkcopyrightsright to use sitesgoodwill current liabilitieslong-term liabilitiesfinancial institution,Relevant Glossary(4),专利非专利技术商标著作权土地使用权商誉流动负债长期负债金融机构,32,Basic operating revenue

30、other operating revenueLong-term project contractThe completed progress methodThe completed contract methodReturn of salesSales allowancesSales discountOutlayNorm costingPlanned costingCost variance,主营业务收入其他业务收入长期工程合同完工进度法完工成本法销售退回销售折让销售折扣费用、花费标准/定额成本法计划成本法成本差异,3-2 Revenue,Expenses and Profit,Releva

31、nt Glossary,33,Operating profitOperating revenueOperating costPeriodic expenseTurnover taxIncome taxSurtaxFeeInvestment profitExternal investmentInvestment lossNon-operating incomeNon-operating expense,Relevant Glossary(2),营业利润营业收入营业成本期间费用流转税所得税附加税费，酬金投资收益对外投资投资损失营业外收入营业外支出,34,Reading Material:The F

32、orms of Business Organizations,Three/Four forms:Sole proprietorshipPartnershipGeneral partnershipLimited partnershipCorporation,35,Reading Material:The Forms of Business Organizations,Three/Four forms:Sole proprietorshipPartnershipGeneral partnershipLimited partnershipCorporation,36,owned and manage

33、d by one person;the individual proprietor has the ultimate responsibility and authority for all decisions;no legal formalities are necessary to create it;low taxes and fees;personally liable for the debts(limitless liability).,Sole proprietorship,37,partners agree to share in the profits,loss and as

34、sets;agreement upon duties and liabilities of the partners and a fiduciary relationship exists between them;Each partner is personally liable for the debts(limitless liability),General partnership,38,similar to a general partnership in certain aspects and similar to a corporation in others;one or mo

35、re of the partners has only limited liability for partnership debts and obligations and limited authority of participating in management.,Limited partnership,39,Created under a particular business statute;Owned by one or more shareholders,who may be natural persons or other legal entities;Its existe

36、nce is entirely distinct from that of its owners;Shareholders are generally not liable for corporate obligations(limited liability);Strict statutory formalities.,Corporation,40,Considerations of the selection of the most advantageous form of organization:Continuity of existence连续性的存在Transferability

37、of ownership interest所有权的移植Capital and credit requirements资本和信贷需求Tax considerations,The Forms of Business Organizations,41,Sole proprietorship:the death of the sole proprietor,maybe granting the heirs the right to continue.General partnership:the death or withdrawal of a general partner or the expir

38、ation of the term of the partnership.Limited partnership:the death of withdraw of a general partner will not result in a termination if there is at least one general partner;a limited partner will not affect the continuity of the partnership.Corporation:perpetual existence,Continuity of existence,42

39、,Sole proprietorship:may be transferred at any time only if the proprietor can find a receiver.General partnership:may be transferred freely.Limited partnership:a limited partners ownership interest is freely transferable except for limitation from agreement or securities laws.Corporation:permits th

40、e greatest flexibility,but in some cases,securities laws may restrict the transferability.,Transferability of ownership interest,43,Sole proprietorship:limited to his own personal resources in his ability to obtain loans.General partnership:the partners contributions constitute the initial capital i

41、nvestment;limited in the sources;must pledge their personal assets as collateral for borrowing.Limited partnership:obtain capital from the limited partners;similar to a corporation;a pledge of partnership assets may be sufficient for borrowing.Corporation:the ability to attract capital and credit is

42、 strong;using various securities to raise capital.,Capital and credit requirements,44,Sole proprietorship:all business income or loss is treated as the individuals income or loss and taxed accordingly.General partnership:individual tax.Limited partnership:like general partnership.Corporation:double

43、taxation(corporate income tax and personal income tax).,Tax considerations,45,Size of expected future cash flowCash is important to a firm and the expectation that the firm will generate cash in the future is one of the factors that gives the firm its valueSales are not the same as cash inflows(sell

44、ing on credit);and purchases are not the same as cash outflows(purchasing on credit)The higher the expected cash inflows and the lower the expected cash outflows,the higher the firms stock price will be.,Factors affecting a firms value,46,Timing of future cash flows All other factors being equal,the

45、 sooner companies expect to receive cash and the later they expect to pay out cash,the more valuable the firm.,Factors affecting a firms value(2),47,Risk of future cash flowsWhen the degree of risk associated with future cash flows goes down,stock price goes up.When the degree of risk associated wit

46、h future cash flows goes up,stock price goes down.Companies whose expected future cash flows are doubtful will have lower values than companies whose expected future cash flows are virtually certain.,Factors affecting a firms value(3),48,Financial obligationFinancial distressCurrent ratioQuick ratio

47、/acid-test ratioQuick assetsReceivables turn&days receivablesPayable turn&days payableInventory turn&days inventoryDebt ratioDebt-to-equity ratioEquity multiplierInterest coverage,财务责任财务困境流动比率速动比率/酸性测试比率速动资产应收账款周转率&平均收账期应付账款周转率&平均付款期存货周转率&存货周转天数负债比率负债权益比权益乘数利息保障倍数,Relevant Glossary,49,EBIT(earnings

48、before interest and tax)Book valueCapitalization ratioBenchmark Profit marginROS(returns on sales)ROI(return on investment)ROA(returns on assets)ROE(returns on equity)Financial leverage,息税前利润账面价值资本比率基准销售利润率销售收益率投资收益率/投资回报率资产收益率权益报酬率/净资产收益率财务杠杆,Relevant Glossary(2),50,Preferred dividendEPS(earnings p

49、er share)Dividend yieldPayout ratioRetention ratioAsset turnoverCommon stockFair market valueP/E ratioM/B(market-to-book value)Tobins QReplacement valueDuPont framework,Relevant Glossary(3),优先股股利每股收益股利收益率股利支付率留存比率资产周转率普通股公平市价，公允价值市盈率市值与账面价值比托宾Q值重置价值杜邦分析框架,51,Ratios standardize numbers and facilitate

50、 comparisons.Ratios are used to highlight weaknesses and strengths.,Why Are Financial Ratios Useful?,52,Short-term Liquidity:Can we make required payments?Long-term Solvency and Capital Structure:Right mix of debt and equity?Profitability:Do sales prices exceed unit costs,and are sales high enough?E