會計概念英文名詞解釋

會計概念英文名詞解釋會計概念英文名詞解釋會計概念英文名詞解釋資料僅供參考文件編號：2022年4月會計概念英文名詞解釋版本號：A修改號：1頁次：1.0審核：批準(zhǔn):發(fā)布日期：Session1DefinitionsandElementsofFinancialStatementsYouwillneedtolearntheseunderlinedtermsforthemidterm!Incomestatement–“video”ofrevenues,expenses,gains,lossesoveraperiodoftimeBasicdefinitions:Revenue–increaseinequity(andassociatedincreaseinassetsand/ordecreaseinliabilities)earnedfromthesaleofgoodsorprovisionofservicestocustomers;itismeasuredonagrossbasisastheamountofassetstobereceived.Expense–decreaseinequity(andassociateddecreaseinassetsand/orincreaseinliabilities)createdbysaleofgoods,renderingofservicesorpassageoftime;itismeasuredonagrossbasisastheamountofassetsconsumed.Gain–increaseinequityresultingfromsellingassetsorrecognizingtheincreaseinvalueofassets(ordecreaseinvalueofliabilities);itismeasuredonanetbasisasthepositivedifferencebetweencurrentvalueandamountrecordedonthebalancesheet.Loss–decreaseinequityresultingfromsellingassetsordecreaseinvalueofassets(orincreaseinvalueofliabilities);itismeasuredonanetbasisasthenegativedifferencebetweencurrentvalueandamountrecordedonthebalancesheet.Accountingperiod-thetimeperiodbetweenconsecutivebalancesheetsforwhichafirmpreparesanincomestatementandstatementofcashflows.,anannualreporthasa12-monthaccountingperiodandaquarterlystatementhasa3-monthaccountingperiod).Elements:Sales-revenuefromsellinggoodsorprovidingservicestocustomers,whichisreportedasthetoplineontheincomestatement.CostofGoodsSoldorCostofSaleslabor,material,andoverheadcostsdirectlyrelatedtoprovidinggoodsorservices.

GrossProfitisthedifferencebetweenSalesRevenueandCostofGoodsSold,whichrepresentstheprofitthatisavailabletocoveralloftheotherexpensesontheincomestatement.OperatingExpensesareexpensesrelatedtotheordinaryoperatingactivitiesofthefirmofprovidinggoodsorservicestocustomersorgainsandlossesrelatedtooperatingassetslikePPE.OperatingProfitorIncomeequalsgrossprofitminusoperatingexpenses. OtherNonoperatingRevenueandExpenseareitemsrelatedtoFINANCINGactivities.,interestexpense)andINVESTINGactivities.,interestincomeandgainsandlossesoninvestments).IncomeBeforeTaxequalsoperatingprofitminusotherincomeandexpense.TaxexpenseequalsaGAAPbasedmeasureofthegovernmentchargesonincome.NetIncomeequalsincomebeforetaxminustaxexpense.IncomestatementaccountsarecalledTEMPORARYACCOUNTSbecauseamountsaccumulateforadefinedperiodoftimeandarethenzeroedoutwhenthebalanceistransferredtoretainedearnings.Annualincomestatementamountsrepresentthetotalrevenuesorexpensesfora12monthperiodcalledthefiscalyear.Balancesheet–“snapshot”ofassets,liabilities,stockholders’equityatapointintimeBasicDefinitionsOperatingcycle-averagetimeittakestogofromcashtogoodsandservicessoldtocustomersandthenbacktocashcollectedfromcustomers.Elements:Asset:resourcethefirmcontrolsbecauseofapasttransactionoreventthatprovidesexpectedfuturebenefits.Currentasset:assetafirmexpectstoconverttocash,sell,orconsumewithinthelongerofoneyearoranoperatingcycle.Noncurrentasset:assetnotclassifiedascurrent.Liability:creditor’sclaimsorobligationthatrepresentsaprobablefutureeconomicsacrificeofassetsorservicesbasedonapasttransactionorevent.Currentliability:obligationafirmexpectstopaywithinthelongerofoneyearoranoperatingcycle.Noncurrentliability:liabilitynotclassifiedascurrent. Shareholders’equity:measureoffinancingprovidedbyownersofthefirmthatcapturesowners’residualclaimonassetsofthefirmaftersatisfyingliabilities.Retainedearnings:cumulativenetincomeminusdividendsoverthelifeofthefirm. Retainedearningsareasourceoffinancing.Whenearningsexceedthedividendspaidouttoshareholders,itincreasesequityortheowner’sclaimonthefirm.ThereisNOTacorresponding“cashfund”intheassetsectionequaltothebalanceinretainedearnings.Changesinretainedearningsareafunctionofnetincomeanddividendsdeclared,whichmayormaynotcorrespondtochangesincash.Dividends:distributionofcashtotheownersofthefirm.BalancesheetaccountsarecalledPERMANENTACCOUNTSbecausetheamountsaccumulateyearafteryear.Theendingbalancefromthepreviousyearbecomesthebeginningbalanceforthenextyear.Forexample,endingcashamountin2011willbethebeginningcashamountin2014,thatisthenadjustedfor2014inflowsandoutflowstodeterminethe2014cashamount.

Basicaccountingequation: ASSETS=LIABILITIES+STOCKHOLDERS'EQUITY ThepowerfulimplicationisinvestmentsinassetscanbefinancedwitheitherDEBTorEQUITY! Assetsareresourcesandliabilitiesandequityrepresenttheclaimsonthoseresources.StatementofRetainedEarnings(includedinStatementofShareholders’Equity)presentsa“video”ofthechangeinretainedearningsfromnetincomeanddividendsduringtheperiod. StatementofCashFlows–“video”ofthesourcesandusesofcashoveraperiodoftimethatexplainsthechangeinthecashbalanceonthebalancesheet.Operating–coreoperationsanditemsrelatedtomeasurementofnetincomeInvesting-firmsINVESTinassetssoincludesassettransactions:buyandsellpropertyplantandequipmentbuyandsellinvestmentsFinancing-firmsFINANCEwithdebtandequitysoincludesdebtandequitytransactionsborrowandpaybacknonoperatingdebtissueandrepurchasestockpaydividendsFormat +NetOperatingCashFlow +NetInvestingCashFlow +NetFinancingCashFlow =ChangeinCashforthePeriod BeginningCashfromLastYear +/-ChangeinCashforthePeriod =EndingCashforThisYearBalanceSheetAccountNameDefinitionsAnaccountaccumulatestheincreasesanddecreasesthatoccurforasingleitem.GAAPdoesnotprovideanall-inclusivelistofacceptableaccountnamessotheirusagevariesbyfirm.Separateaccountsarereportediftheyare“material”orcrucialtounderstandingfirmperformance.Forexample,somefirmsdivideinterestrevenueandinterestexpenseintoseparateaccountswhileotherfirmscombinethemintoonenetaccount.Youwillreceivecreditinexamsaslongasthenameispotentiallyusedinpracticeandaccuratelydescribesandcorrectlyclassifiesanaccountasasset,liability,orshareholders’equity.Itisacceptable,butnotrequired,tousemorespecificaccountnameslikeprepaidrentforprepaidexpense.Thefollowinglistofaccountnamesarecommonlyused.Assets:Cash–currencyorbalancesincheckingaccounts,CDs,ormoneymarketaccountsavailabletomeetcurrentobligations.Highlyliquidshort-terminvestmentswithlessthan90daystomaturityandlittleriskofvaluechangesarecalled"cashequivalents"andincludedinthecashaccount.Short-terminvestmentormarketablesecurities–currentvalueofinvestmentsinanotherfirm’sdebtorequitysecuritiesthatcanbequicklysoldforcash.Accountsreceivable–amountduefromcustomersforgoodsandservicesalreadydelivered.Grossaccountsreceivableistheamountowed.Netaccountsreceivableistheamountexpectedtobecollectedaftersubtractinganallowanceforuncollectibleaccounts.Notesreceivable–amounttobereceivedfromanoutsideentityformalizedwithanoteorlendingagreementthatspecifiesinterestandpaymentterms.Inventory–rawmaterials,workinprocess(productsstartedbutnotfinished),andfinishedgoodsavailableforsaletocustomers.Prepaidexpenses–assetrecognizedwhencashpaidinadvanceofwhenfutureexpenseswillbeincurred.Long-terminvestments–investmentsinbondsorequitysecuritiesexpectedtobeheldforthelong-term.Property,plant,andequipment(gross)–originalcosttoobtainandputintoservicebuildings,land,andequipment.Accumulateddepreciation–acontraoroffsettingaccountwiththecumulativeamountofthecostofproperty,plantandequipmentassignedtodepreciationexpense.Property,plantandequipment(net)–originalcostminusaccumulateddepreciation.Intangibleassets–itemslikepatentsandcopyrightsthatprovidefuturebenefitbutdonothavephysicalsubstance.Intangibleassetsareonlyrecognizedwhentheyarepurchasedfromanoutsidesource.Forexample,ifafirmpurchasesapatentfromanothercompanythecostisshownasanasset.However,ifafirmdoesresearchthatresultsinapatent,thoseresearchcostsareincludedinR&Dexpenseandanassetisonlyrecognizedforthelegalandregistrationfeestoobtainthepatent.Goodwill–purchasepriceofanacquiredcompanyminusthemarketvalueoftheidentifiableassetsminusliabilitiesofthatcompany.Themarketvaluesofbothtangibleandintangibleassetsareconsideredinthecalculationofidentifiableassets.GoodwillisONLYrecognizedwhenonecompanypurchasesanothercompanyatapremiumforthingslikefuturepotential,marketpower,andqualityofworkforcethatarenotconsidered“identifiableassets.”Liabilities:Accountspayable–amountowedtosuppliersforinventoryorothergoodsorservicespurchasedoncredit.Otherpayablesoraccruedexpenses–amountsowedforexpensesthathavealreadybeenrecognizedlikeinterest,taxes,salaries,andrent.Short-termloanspayableornotespayable–obligationsformalizedwithanoteorlendingagreementthatspecifyinterestandpaymenttermsandareduewithinthenextyear.Currentmaturitiesoflong-termdebt-theportionoflong-termdebtexpectedtobepaidwithinthenextyear.Unearnedrevenueoradvancesfromcustomer–liabilityincurredbecausecashwasreceivedfromcustomersinadvanceofwhenrevenueisearnedsothefirmhasanobligationtodelivergoodsorservicestothecustomer.Long-termdebt(Notes,LoansBonds,orMortgagePayable)–obligationsformalizedwithanoteorlendingagreementexpectedtobepaidmorethan1yearlater.Shareholders’Equity:Commonstockatpar–parorstatedvalueoftotalstockissuedoverthelifeofthefirm.Commonstockhasvotingrights.Notethatparvaluehaslegalsignificancebutnorealeconomicsignificance.Forexample,insomelegaljurisdictionsparvaluecanplayaroleindistributionstostockholdersinthecaseofliquidation.However,parvaluedoesnotrelatetothemarketvalueofthestock.Somelegaljurisdictions,includingTexas,allownoparvaluestock.Additionalpaidincapital-totalamountofcashreceivedaboveparvaluewhenthestockwasissued,aggregatedoverthelifeofthefirm.Notethatsomefirmsincludetheparvalueandadditionalpaidincapitalinone“commonstock”account.Also,notethatadditionalpaidincapitalisreducedforcertainstockoptionandtreasurystocktransactions.Example:Issue10,000sharesof$1parvaluecommonstockfor$5pershare.Theshareholders'equitysectionwillappearasfollows:Commonstockatpar $10,000Additionalpaidincapital $40,000Preferredstock-amountofcashthefirmreceivedforstockgivingtheholderapreferencerelativetocommonshareholdersintermsofdividendsandcashreceivedifthefirmisliquidated.Treasurystock-repurchasepriceofstockthatwasissuedandthenrepurchasedbythefirmandheldinternally.Noticethattreasurystockreducesshareholders’equitybecauseitreducestheequityclaimedbyOUTSIDEshareholders.Retainedearnings–cumulativenetincomeminusdividendsoverthelifeoftheirm.AccumulatedOtherComprehensiveIncome-gainsandlossesthatbypasstheincomestatementandflowdirectlytotheshareholders’equity,accumulatedoverthelifeofthefirm.IncomeStatementAccountNameDefinitionsRevenueInterestincome–interestearnedondebtinvestments.ExpensesCostofgoodssoldorcostofsalesrevenue–labor,materialandoverheadcostsdirectlyrelatedtoprovidinggoodsandservices.Itisrecognizedonlyforthegoodsorservicesdeliveredduringtheperiod.Forexample,amanufacturingfirmincludesmanufacturingsalariesanddepreciationonmanufacturingequipmentintheinventoryaccountandthenincostofgoodssoldwhentheinventoryissoldtocustomers.AssumeTIhas20inventoryitemsavailableforsalethatcost$1000each,andtheysell5oftheseitemsfor$1600each.Theincomestatementwouldshowsalesrev