《會(huì)計(jì)英語(yǔ)整理》

1、整理課件 double-entry bookkeeping accounting cycle/process financial statement accounting equation asset liability owners equity revenue expense dividend retained earning net income (loss) entry復(fù)式簿記會(huì)計(jì)循環(huán)財(cái)務(wù)報(bào)表會(huì)計(jì)恒等式資產(chǎn)負(fù)債所有者權(quán)益收入費(fèi)用股利留存收益凈利潤(rùn)/凈損失分錄 Recording Phase nRelevant Glossary整理課件nbusiness/source documentn

2、debitncreditnjournalnspecial (general) journalncomputerized accounting systemnchart of accountnledgerngeneral (subsidiary) ledgernpostntrial balancenbalance sheetnincome statementnaccounting period業(yè)務(wù)憑證/原始憑證借（方）貸（方）日記賬特種(普通)日記賬電算化會(huì)計(jì)系統(tǒng)賬戶表分類(lèi)賬總(明細(xì))分類(lèi)賬過(guò)賬試算平衡表資產(chǎn)負(fù)債表收益/利潤(rùn)表會(huì)計(jì)期，會(huì)計(jì)年度nRelevant Glossary (2)整理課件n

3、Recording PhaseStep 1AnalyzingbusinessdocumentsStep 3Posting toledgeraccountsStep 2JournalizingtransactionsSpecial journalGeneral journalGeneral ledger(Control account)Subsidiary ledger整理課件 financial position adjusting entries prepaid expense depreciation expense accumulated depreciation unearned re

4、venue accrued expense nominal (temporary) account real (permanent) account close proprietorship partnership post-closing trial balance財(cái)務(wù)狀況調(diào)整分錄預(yù)付費(fèi)用折舊費(fèi)用累計(jì)折舊預(yù)收收入應(yīng)計(jì)費(fèi)用虛賬戶（臨時(shí)賬戶）實(shí)賬戶（永久賬戶）結(jié)賬 所有權(quán)，獨(dú)資合伙結(jié)賬后試算表1-2 Reporting Phase nRelevant Glossary整理課件 A list of the account titles in the ledger with their respec

5、tive debit and credit balances Why we need a trial balance? To serve as a general check to determine if the debits and credits in the general ledger are equal. To show all general ledger account balances on one concise record.nTrial balancenKnowledge Points整理課件 Possible errors even a trial balance d

6、oes balance: Failing to record or enter a particular transaction. Entering a transaction more than once. Entering one or more amounts in the wrong accounts. Making a compensating error that exactly offsets the effect of another error.nTrial balance (continued)整理課件 Four types of adjusting entries: Ap

7、portioning recorded costs (prepaid expense, depreciation expense) ; Apportioning recorded revenue (unearned revenue); Accruing unrecorded expense (accrued expense); Accruing unrecorded revenue (accrued revenue). Accrual Basis V.S. Cash Basis accounting 權(quán)責(zé)發(fā)生制 收付實(shí)現(xiàn)制nAdjusting ProceduresRevenue is reco

8、gnized 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 recognized when money is received and expenses are recognized when money is paid.整理課件 Normal accounts and real accountsnClosing ProceduresI

9、ncome statement accountsBalance sheet accountsrevenueexpensedividendsassetsliabilitiescapitalretained earnings整理課件nBasic principles: nhistorical cost 歷史成本原則nrevenue realization 收入實(shí)現(xiàn)原則nmatching 配比原則nconsistency 一致性原則nfull disclosure 充分披露原則nobjectivity 客觀性原則nGAAP must be followed by publicly owned cor

10、porations: auditingnGAAP are changed and refined.整理課件Business (source) document Offering detailed information Assigning responsibility Verifying the accounting records整理課件11 financial report accounting calculation operating result cash flow statement notes to the financial statement creditors govern

11、ment department finance and security institution management Accounting Standards for Business Enterprisen財(cái)務(wù)報(bào)告n會(huì)計(jì)核算n經(jīng)營(yíng)成果n現(xiàn)金流量表n會(huì)計(jì)報(bào)表附注n債權(quán)人n政府職能部門(mén)n金融和證券機(jī)構(gòu)n（企業(yè)）管理層n企業(yè)會(huì)計(jì)準(zhǔn)則2-1 Introduction nRelevant Glossary整理課件12 shot-term liquidity long-term solvency capital structure profitability working capital conti

12、ngency account form report form “T” account2-1 Introduction nRelevant Glossaryn短期償債能力n長(zhǎng)期償債能力n資本結(jié)構(gòu)n盈利能力n營(yíng)運(yùn)資本，營(yíng)運(yùn)資金n或有事項(xiàng)n賬戶式n報(bào)告式 nT形賬整理課件13 accounting treatment current period prior period unusual items historical cost market value measurement currency inflation purchasing power2-1 Introduction nReleva

13、nt Glossaryn會(huì)計(jì)處理n當(dāng)期 n前期n非常項(xiàng)目n歷史成本n市場(chǎng)價(jià)值（市價(jià)）n計(jì)量貨幣n通貨膨脹n購(gòu)買(mǎi)力整理課件14 short-term investment notes /accounts receivable provision for bad debts net value fixed asset construction in progress deferred tax on debit /credit short-term loans (payable) notes /accounts payablen短期投資n應(yīng)收票據(jù)/賬款n壞賬準(zhǔn)備n凈值n固定資產(chǎn)n在建工程n遞延稅款借

14、項(xiàng)/貸項(xiàng)n短期借款n應(yīng)付票據(jù)/賬款2-2 The Balance Sheet and Notes to the Financial Statements nRelevant Glossary整理課件15nadvances from customersnaccrued payroll/ welfarendividends/profits payablentaxes payable nother dutiablenestimable liabilitiesnprovision for expensesnpaid-in capitalncapital reservensurplus reserven

15、undistributed profitnRelevant Glossary (2)n預(yù)收賬款n應(yīng)付工資/福利費(fèi)n應(yīng)付股利/利潤(rùn)n應(yīng)交稅金n其他應(yīng)交款n預(yù)計(jì)負(fù)債n預(yù)提費(fèi)用n實(shí)收資本n資本公積n盈余公積n未分配利潤(rùn)整理課件16To help explain, evaluate and predict short-term liquidity capital structure and long-term solvency the operating performancenThe Functions of the Balance SheetnKnowledge Points整理課件17 allo

16、wing the users to tell at a glance that total assets are being financed by two sourcesby the creditors and by the owners. Assets=Liabilities +Owners equitynForm of the Balance SheetAccount FormReport Formnallowing the users see clearly that owners equity, the difference between assets and liabilitie

17、s, is the residual claim to the equity of a business.nAssets-Liabilities =Owners equity整理課件18 Limitation of the Balance SheetnCannot reflect the current value of a businessnElements reported at historical costnthe measurement currency is instablenAll companies do not classify and report all like ite

18、ms similarly: incomparable between different companiesnSome relevant information is omitted整理課件19 profit distribution realization concept revenue recognition IASB: International Accounting Standard Board FASB: Financial Accounting Standard Board conceptual framework matching conceptn利潤(rùn)分配n實(shí)現(xiàn)原則n收入確認(rèn)n國(guó)

19、際會(huì)計(jì)準(zhǔn)則理事會(huì)n（美國(guó)）財(cái)務(wù)會(huì)計(jì)準(zhǔn)則委員會(huì)n概念框架n配比原則2-3 The Income Statement nRelevant Glossary整理課件20ndirect matchingndepreciation and amortizationnexpenditurenoperating revenue/ costnoperating taxes and surchargesnselling expensenadministrative expensenfinancial expensennon-operating income/expensenincome taxnsingle-s

20、tep form nmultiple-step form nRelevant Glossary (2)n直接配比n折舊與攤銷(xiāo)n支出，花費(fèi)n營(yíng)業(yè)收入/成本n營(yíng)業(yè)稅金及附加n銷(xiāo)售費(fèi)用n管理費(fèi)用n財(cái)務(wù)費(fèi)用n營(yíng)業(yè)外收入/支出n所得稅n單步式n多步式整理課件21 To help explain, evaluate and predict the operating results and profitability; To help explain, evaluate and predict solvency; To help the management make operating decision

21、s; To help evaluate the managements performance.nThe Functions of the Income StatementnKnowledge Points整理課件22 Simple and convenient to prepare, but Fails to disclose some important information, and is inconvenient to compare and analyze.nForm of the Income StatementSingle-step FormMulti-step FormnPr

22、ovides more comprehensive information about the formation of profit, and is convenient to compare and analyze; but nMay leads to misunderstanding sources of income or loss and is difficult to hold unified views on items classification.整理課件23 Cash receipts and cash disbursements/ payments Cash equiva

23、lent liquidity Operating/ investing/ financing activity Working capital deposit Financial instrument Equity financing Debt financing Direct method Indirect method noncurrentn現(xiàn)金收支n現(xiàn)金等價(jià)物n流動(dòng)性，變現(xiàn)能力n經(jīng)營(yíng)/投資/籌資活動(dòng)n營(yíng)運(yùn)資本，營(yíng)運(yùn)資金n存款，押金，保證金n金融工具n權(quán)益融資n債務(wù)融資n直接法n間接法n非流動(dòng)的2-4 The Statement of Cash FlowsnRelevant Glossar

24、y整理課件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 categories of activities. Pro-forma CF statement can help us analyze whether the plans are consistent and workable.nWhy we need the S

25、tatement of CF?nKnowledge Points整理課件25 The Structure of CF statementnCF from operating activitiesnCash inflow: providing goods and services nCash outflow: purchasing inventory; paying wages, taxes, utilities, rent, etc.nCF from investing activitiesnCash inflow: selling long-term assets, financial in

26、struments not intended for trading purposes; collecting loans整理課件26 Cash outflow: purchasing long-term assets, financial instruments not intended for trading purposes; making loans CF from financing activities Cash inflow: obtaining cash from owners (issuing shares) and creditors (borrowing) Cash ou

27、tflow: repaying cash to owners (paying dividends and profit) and creditors (paying debt and interest expense)nThe Structure of CF statement整理課件27 CF From Operating ActivitiesnDirect method Operating inflows- Operating outflows=Net cash flow from operationsnAdvantages: intuitively understandable.nDis

28、advantages: not suggest why the net operating CF differs from the net income.An illustration整理課件28 operating cycle current assets intangible assets receivables prepayments inventory finished goods semifinished goods goods in process Container Low-value and perishable articlesn經(jīng)營(yíng)周期經(jīng)營(yíng)周期n流動(dòng)資產(chǎn)流動(dòng)資產(chǎn)n無(wú)形資產(chǎn)無(wú)

29、形資產(chǎn)n應(yīng)收款應(yīng)收款n預(yù)付款預(yù)付款n存貨存貨n產(chǎn)成品產(chǎn)成品n半成品半成品n在產(chǎn)品在產(chǎn)品n包裝物包裝物n低值易耗品低值易耗品3-1 Assets, Liabilities and Equity nRelevant Glossary整理課件29nspecific identificationnfirst-in first-out (FIFO)nlast-in first-out (LIFO)nweighted averagenmoving averagenlower of cost or market (LCM)nshares investmentnbonds investmentncost me

30、thodnequity methodnRelevant Glossary (2)n個(gè)別計(jì)價(jià)法個(gè)別計(jì)價(jià)法n先進(jìn)先出法先進(jìn)先出法n后進(jìn)先出法后進(jìn)先出法n加權(quán)平均法加權(quán)平均法n移動(dòng)平均法移動(dòng)平均法n成本與市價(jià)孰低法成本與市價(jià)孰低法n股權(quán)投資股權(quán)投資n債券投資債券投資n成本法成本法n權(quán)益法權(quán)益法整理課件30nat a premium or discount/ in premium or discountnface value/ par valuenprincipalninterestnfixed assets financed by leasingnresidual valuenstraight li

31、ne methodnworking capacity (or output ) methodnaccelerated depreciation methodnRelevant Glossary (3)n溢價(jià)或折價(jià)發(fā)行溢價(jià)或折價(jià)發(fā)行n票面價(jià)值，面值票面價(jià)值，面值n本金本金n利息利息n融資租入固定資產(chǎn)融資租入固定資產(chǎn)n殘值殘值n直線法直線法n工作量法（產(chǎn)量法）工作量法（產(chǎn)量法）n加速折舊法加速折舊法整理課件31npatentnnonpatented technologyntrademarkncopyrightsnright to use sitesngoodwill ncurrent liabil

32、itiesnlong-term liabilitiesnfinancial institution nRelevant Glossary (4)n專(zhuān)利專(zhuān)利n非專(zhuān)利技術(shù)非專(zhuān)利技術(shù)n商標(biāo)商標(biāo)n著作權(quán)著作權(quán)n土地使用權(quán)土地使用權(quán)n商譽(yù)商譽(yù)n流動(dòng)負(fù)債流動(dòng)負(fù)債n長(zhǎng)期負(fù)債長(zhǎng)期負(fù)債n金融機(jī)構(gòu)金融機(jī)構(gòu)整理課件32 Basic operating revenue other operating revenue Long-term project contract The completed progress method The completed contract method Return of sales

33、 Sales allowances Sales discount Outlay Norm costing Planned costing Cost variancen主營(yíng)業(yè)務(wù)收入主營(yíng)業(yè)務(wù)收入n其他業(yè)務(wù)收入其他業(yè)務(wù)收入n長(zhǎng)期工程合同長(zhǎng)期工程合同n完工進(jìn)度法完工進(jìn)度法n完工成本法完工成本法n銷(xiāo)售退回銷(xiāo)售退回n銷(xiāo)售折讓銷(xiāo)售折讓n銷(xiāo)售折扣銷(xiāo)售折扣n費(fèi)用、花費(fèi)費(fèi)用、花費(fèi)n標(biāo)準(zhǔn)標(biāo)準(zhǔn)/定額成本法定額成本法n計(jì)劃成本法計(jì)劃成本法n成本差異成本差異3-2 Revenue, Expenses and Profit nRelevant Glossary整理課件33nOperating profitnOperatin

34、g revenuenOperating costnPeriodic expensenTurnover taxnIncome taxnSurtaxnFeenInvestment profitnExternal investmentnInvestment lossnNon-operating incomenNon-operating expensenRelevant Glossary (2)n營(yíng)業(yè)利潤(rùn)營(yíng)業(yè)利潤(rùn)n營(yíng)業(yè)收入營(yíng)業(yè)收入n營(yíng)業(yè)成本營(yíng)業(yè)成本n期間費(fèi)用期間費(fèi)用n流轉(zhuǎn)稅流轉(zhuǎn)稅n所得稅所得稅n附加稅附加稅n費(fèi)，酬金費(fèi)，酬金n投資收益投資收益n對(duì)外投資對(duì)外投資n投資損失投資損失n營(yíng)業(yè)外收入營(yíng)業(yè)外收入n

35、營(yíng)業(yè)外支出營(yíng)業(yè)外支出整理課件34Reading Material: The Forms of Business OrganizationsThree/Four forms: Sole proprietorship PartnershipGeneral partnershipLimited partnership Corporation整理課件35Reading Material: The Forms of Business OrganizationsThree/Four forms: Sole proprietorship PartnershipGeneral partnershipLimit

36、ed partnership Corporation整理課件36owned and managed 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).n Sole proprietorship整理課件

37、37partners agree to share in the profits, loss and assets;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)n General partnership整理課件38similar to a general partnership in certain

38、 aspects and similar to a corporation in others;one or more of the partners has only limited liability for partnership debts and obligations and limited authority of participating in management.n Limited partnership整理課件39Created under a particular business statute;Owned by one or more shareholders,

39、who may be natural persons or other legal entities;Its existence is entirely distinct from that of its owners;Shareholders are generally not liable for corporate obligations (limited liability);Strict statutory formalities.n Corporation整理課件40 Considerations of the selection of the most advantageous

40、form of organization:Continuity of existence連續(xù)性的存在Transferability of ownership interest所有權(quán)的移植Capital and credit requirements資本和信貸需求Tax considerationsnThe Forms of Business Organizations整理課件41 Sole proprietorship: the death of the sole proprietor, maybe granting the heirs the right to continue. Gener

41、al partnership: the death or withdrawal of a general partner or the expiration 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 o

42、f the partnership. Corporation: perpetual existencenContinuity of existence整理課件42 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 trans

43、ferable except for limitation from agreement or securities laws. Corporation: permits the greatest flexibility, but in some cases, securities laws may restrict the transferability.nTransferability of ownership interest整理課件43 Sole proprietorship: limited to his own personal resources in his ability t

44、o obtain loans. General partnership: the partners contributions constitute the initial capital investment; 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 partn

45、ership assets may be sufficient for borrowing. Corporation: the ability to attract capital and credit is strong; using various securities to raise capital.nCapital and credit requirements整理課件44 Sole proprietorship: all business income or loss is treated as the individuals income or loss and taxed ac

46、cordingly. General partnership : individual tax. Limited partnership: like general partnership. Corporation: double taxation (corporate income tax and personal income tax).nTax considerations整理課件45 Size of expected future cash flowCash is important to a firm and the expectation that the firm will ge

47、nerate cash in the future is one of the factors that gives the firm its valueSales are not the same as cash inflows (selling 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

48、 firms stock price will be.nFactors affecting a firms value整理課件46 Timing of future cash flows All other factors being equal, the sooner companies expect to receive cash and the later they expect to pay out cash, the more valuable the firm.nFactors affecting a firms value (2)整理課件47 Risk of future cas

49、h flowsWhen the degree of risk associated with future cash flows goes down, stock price goes up. When the degree of risk associated with 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 futur

50、e cash flows are virtually certain.nFactors affecting a firms value (3)整理課件48 Financial obligation Financial distress Current ratio Quick ratio/acid-test ratio Quick assets Receivables turn & days receivables Payable turn & days payable Inventory turn & days inventory Debt ratio Debt-to-equity ratio

51、 Equity multiplier Interest coveragen財(cái)務(wù)責(zé)任n財(cái)務(wù)困境n流動(dòng)比率n速動(dòng)比率/酸性測(cè)試比率n速動(dòng)資產(chǎn)n應(yīng)收賬款周轉(zhuǎn)率&平均收賬期n應(yīng)付賬款周轉(zhuǎn)率&平均付款期n存貨周轉(zhuǎn)率&存貨周轉(zhuǎn)天數(shù)n負(fù)債比率n負(fù)債權(quán)益比n權(quán)益乘數(shù)n利息保障倍數(shù)nRelevant Glossary整理課件49 EBIT (earnings before interest and tax) Book value Capitalization ratio Benchmark Profit margin ROS (returns on sales) ROI (return on investmen

52、t) ROA (returns on assets) ROE (returns on equity) Financial leveragen息稅前利潤(rùn)息稅前利潤(rùn)n賬面價(jià)值賬面價(jià)值n資本比率資本比率n基準(zhǔn)基準(zhǔn)n銷(xiāo)售利潤(rùn)率銷(xiāo)售利潤(rùn)率n銷(xiāo)售收益率銷(xiāo)售收益率n投資收益率投資收益率/投資回報(bào)率投資回報(bào)率n資產(chǎn)收益率資產(chǎn)收益率n權(quán)益報(bào)酬率權(quán)益報(bào)酬率/凈資產(chǎn)收益率凈資產(chǎn)收益率n財(cái)務(wù)杠桿財(cái)務(wù)杠桿nRelevant Glossary(2)整理課件50nPreferred dividendnEPS (earnings per share)nDividend yieldnPayout rationRetention

53、 rationAsset turnovernCommon stocknFair market valuenP/E rationM/B (market-to-book value)nTobins QnReplacement valuenDuPont frameworknRelevant Glossary (3)n優(yōu)先股股利n每股收益n股利收益率n股利支付率n留存比率n資產(chǎn)周轉(zhuǎn)率n普通股n公平市價(jià)，公允價(jià)值n市盈率n市值與賬面價(jià)值比n托賓Q值n重置價(jià)值n杜邦分析框架整理課件51 Ratios standardize numbers and facilitate comparisons. Ratio

54、s are used to highlight weaknesses and strengths.nWhy Are Financial Ratios Useful?整理課件52nShort-term Liquidity: Can we make required payments?nLong-term Solvency and Capital Structure: Right mix of debt and equity?nProfitability: Do sales prices exceed unit costs, and are sales high enough?nEfficienc

55、y: right amount of assets vs. sales?nGrowth: How fast is the company growing?nMarket Value Ratio: Do investors like what they see as reflected in P/E and M/B ratios?nImportant Financial Ratio整理課件53 Current ratio Quick ratioQuick asset=Current assets-Inventories Receivables turn & days receivables In

56、ventory turn & days inventory Amount of working capitalnShort-term LiquiditysliabilitieCurrent assets QuicksliabilitieCurrent assetsCurrent sliabilitieCurrent assetsCurrent turn sReceivableperiod in DaysInventory Averagesold goods ofCost receivable AccountsAverageSalesturn inventoryperiod in Days整理課

57、件54 Net worth to total assets Debt ratioDebt ratioDebt-to-equity ratioEquity multiplier Interest coveragenLong-term Solvency and Capital Structure:assets Totalequity rsshareholde Totalassets Totalsliabilitie Totalequity Totalsliabilitie Totalequity Totalassets Totalexpenseinterest EBIT整理課件55 Net Pro

58、fit margin ROS (returns on sales) ROA (returns on assets) ROE (returns on equity) =ROI (return on investment) Return on common shareholders equitynProfitabilityassets total AverageincomeNet equity rsstockholde AverageincomeNet SalesincomeNet equity rsstockholde common Averagedividends preferred-inco

59、meNet revenue operating TotalincomeNet 整理課件56 EPS (earnings per share) Dividend yield Payout ratio Retention rationProfitability (2) goutstandin shares ofnumber AverageincomeNet shareper pricemarket shareper DividendincomeNet dividend CashincomeNet DividendsincomeNet 整理課件57 Total asset turnover Fixe

60、d asset turnover Receivables turn & days receivables Inventory turn & days inventorynEfficiencyassets Total AveragesalesNet assets fixed AveragesalesNet 整理課件58 Sales growth Profit growth Asset growth Equity growth Sustainable growth ratenGrowth整理課件59 Market price P/E ratio: How much investors are wi