1、1,Unit 7 Accounting,2,A business executive was interviewing candidates for a managerial position. In the course of the interview, he asked each applicant: “How much is two plus two?” The first applicant, trained as an engineer, pulled out his slide rule and found the answer to be between 3.999 and 4
2、.001. The second candidate, trained as a lawyer, noted that in case of Newton vs. Einstein, two plus two proven to be four. The third applicant was an accountant. When the executive asked him how much two plus two was, he leaned across the desk and whispered: “How much do you want it to be?”,A joke,
3、3,n.计算, 帐目; v. 说明, 得分 n. 会计学，清算帐目 n. 会计师 a. 负责的，可结识的 n. 有责任，有义务，可说明 adv. 可辩解地，可说明地 n. 会计师之职，会计学,account accounting accountant accountable accountability accountably accountancy,Conjugation,4,“You cant manage what you dont measure.”,财务管理 = 聚财 + 生财 簿记 = 记帐 会计 = 对财务状况的包装 财会 = 财务管理 + 会计,5,Definition of
4、Accounting,“The process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information. -AAA,6,Purpose,to provide decision makers with information useful in making economic decisions which concern the allocation and use of scar
5、ce economic resources.,7,Types of Accounting,Financial accounting 财务会计 Managerial accounting 管理会计 Tax accounting 税务会计,8,9,Other types of accounting,Cost accounting Budgetary accounting Governmental accounting Social accounting International accounting,10,FYI,Although there is a difference in the typ
6、e of information presented in financial and management accounts, the underlying objective is the same - to satisfy the information needs of the user.,11,Users of accounts,Investors Lenders Creditors Debtors Employees Government Analysts Public at large,12,Expressions and slang,the bottom line crunch
7、 the numbers in the black in the red go belly upgo bustgo broke,13,CPA Certified Public Accountant 注册会计师ACCA Association of Chartered Certified Accountants 注册会计师协会AAA American Accounting Association 美国会计协会,14,FASB Financial Accounting Standard Boards 财务会计准则委员会GAAPGenerally Accepted Accounting Princi
8、ples 公认会计准则,15,Financial Statement,One of the tools of financial accounting. In the firms whose stocks are publicly held, the financial information is required to be revealed to the investors. The company is required to issue a set of documents each year to show the companys current financial health
9、, business results for the previous period and other indicators, that is the financial statements.,16,Structure of FS,Balance Sheet 资产负债表 Income Statement 损益表 Statement of Cashflows 现金流量表 Statement of stockholders equity Footnotes,17,Balance Sheet,Statement of financial position. Providing a complet
10、e breakdown: Assets = Liabilities + Equities Fixed creditors owners Current (shareholders interests),18,Major Balance Sheet Items,Assets Current assets: Cash & securities Receivables Inventories Fixed assets: Tangible assets Intangible assets,Liabilities and Equity Current liabilities: Payables Shor
11、t-term debt Long-term liabilities Shareholders equity,19,An Example: Dell Abbreviated Balance Sheet,Assets: Current Assets: $7,681.00 Non-Current Assets: $3,790.00 Total Assets: $11,471.00 Liabilities: Current Liabilities: $5,192.00 LT Debt & Other LT Liab.: $971.00 Equity: $5,308.00 Total Liab. and
12、 Equity: $11,471.00,20,Income statement,Statement of earnings, tells you whether the company is making a profit. (a.k.a. P&L Statement)Major categories: revenue, expense, gain, loss transactions,21,An Example: Dell Abbreviated Income Statement,Sales $25,265.00 Costs of Goods Sold -$19,891.00 Gross P
13、rofit $5,374.00 Cash operating expense -$2,761.00 EBITDA 2,613.00 Depreciation & Amortization -$156.00 Other Income (Net) -$6.00 EBIT $2,451.00 Interest -$0.00 EBT $2,451.00 Income Taxes -$785.00 Special Income/Charges -$194.00 Net Income (EAT) $1,666.00,22,A balance sheet provides a picture of the
14、financial position of the business at a specific point. An income statement provides a perspective on a longer time-period.,“digital snap-shot“ vs.“DVD“,23,Statement of cash flows,Statement of inflows and outflows of cash, currency in business, Tells you whether the company is turning profits into c
15、ash.,24,Current Ratio: 流动比率Quick (Acid Test) Ratio: 速动比率,Liquidity Ratios,25,Return on Assets (ROA):Return on Equity (ROE):,Profitability Ratios,26,四大会计师事务所,道可道，普华永道（PWC） 以勤为本，以德服人，德勤 (DTT) 诚信“马官儿”，毕马威（KPMG） 保养&养眼，安永（E&Y）,27,Terms,Financial statements 财务报表Balance sheet 资产负债表Income statement 损益表Statement of cash flow 现金流量表Assets 资产Liabilities 负债Equity 权益,
