1、WELCOME!,Havent seen you for some time!,罗定市中等职业技术学校 李金梅,会计英语 Accounting English,Why do we learn Accounting English?What are the learning objectives of Accounting English?Is Accounting English difficult?,Suggestions for study,Previewing the text is very important.An English Chinese Dictionary of Acco
2、unting，英汉双解财会词典,UNIT 1,An Introduction to Accounting,Learning Objectives,Explain the definition of accounting; Understand the basic function of accounting; As certain the users of accounting information and know why they need the information; Understand the types of accounting information; Have a ge
3、neral idea of the professional fields of accounting and their duties. Learn the accounting terms in this chapter and use them in the translation task.,Account 账户 asset account 资产账户 Accounting 会计（学）I majored in accounting. Accountancy 会计工作、会计学 Accountant 会计师 I want to be an accountant. Bean Counter 数
4、豆子的人 Different expressions about “ 企业” in English Business Enterprise Firm Company Corporation,Read Part I and answer the following questions: 1.Accounting is a special _ of business. 2.What is the purpose of accounting? 3. Who are the accounting users?（使用者) 4.What are three basic accounting element
5、s?,Step One Lead in the new lesson,1、What is Accounting?,Accounting is a special _ of business.,language,会计是一种特殊的商业用语。,The purpose of accounting is to provide useful information for different users in order to make their decisions.(作出决定）,provide sth for sb.为某人提供某物 Eg. Our school often provides delic
6、ious food for us .,in order to 目的/为了 Eg. We study hard in order to make a contribution to the society,2、What is the purpose of the accounting?,3、Users of Accounting Information(会计信息的使用者）,Owners 业主,managers经理 ,creditors 债权人, governments agencies 政府机构,customers , 顾客labor unions工会, and competitors对手,Re
7、venue 收入 Expenses 费用 Profits 利润,Assets 资产 Liabilities 负债 Owners equity 业主权益/所有者权益,4、Three basic accounting elements（会计的三个基本要素 ）,They exist in every business entity.,4、Three basic accounting elements（会计的三个基本要素 ）,5、Accounting equation,资产 = 负债 + 所有者权益,equal,plus,minus,=,Assets,Liabilities,Owners equity
8、,+,Assets - Liabilities = Owners equity,Net assets = Owners equity,=,+,-,1、Express 表示 2、Equity are divided into liabilities and owners equity.,divide into 把.分成. eg: We will divide the students into three groups.,3、the third can be calculate (compute ) . 计算出来,6、Useful expressions,4. Under the busines
9、s entity principle 在企业实体原则下,5、the accounting elements are affected （相互影响）by each other .,6、The accounting equation must be in balance.(平衡）,7、Read the phrases and text,8. Do some exercises: C to E or E to C asset _ liability _ equity _ special language _ useful information_ make decision_ accounting
10、element _,资产,权益,特别的言语,会计要素,有用的信息,作出决策,负债,2. Complete the following sentences.,1)Accounting is a _ _ of business. 2) The purpose of accounting is to provide _ to make _. 3) There are three basic accounting elements :_ _ and _. 4)At all times, the accounting equation must be in _. 5)Equities are divid
11、ed into _ and _.,special language,useful information,decisions,assets liabilities,owners equity,balance,liabilities owners equity,Step 4、Sum up:,1、The accounting purpose and elements.,2、Users of Accounting Information.,1. Finish B. Reading Part 1 EX.1 and 22. Read the text by heart,Step 5、Homework:,
12、UNIT ONE Financial Position and Accounting Equation,Financial position: economic resources belonging to a company and the claims (equities) against those resources at a point in time. Economic resources = equities Economic resources =creditors equity + owners equity Accounting equation: assets = lia
13、bilities + owners equity,four types of transactions that affect owners equity,Owners investments,Owners equity,revenues,Owners withdrawals,expenses,Part 2,Accounting Process,Step 1 Review,1.Who are the accounting users? 2.Whats the purpose of accounting ? 3.What are the basic accounting elements?,Th
14、e full form of accounting equation: Assets=Liabilities + Owners Equity + Revenue - Expenses,Owners equity,Definition: the residual interest in the assets of an entity that remains after deducting its liabilities. Owners equity = assets liabilities Owners equity = net assets,Liabilities,Definition: p
15、robable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events. Kinds of liabilities: current liabilities and long-term liabilities,Assets,Definit
16、ion : probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events; economic resources owned by a business that are expected to benefit future operations. Kinds of assets:current assets, fixed assets and intangible assets.,Economic resour
17、ces are referred to as assets and creditors equities are referred to as liabilities.,Equities: creditors equity and owners equity,Current assets: cash, accounts receivable, inventories, Fixed assets: land, buildings,and equipment Intangible assets: patent, trademark and brand name, copyright, franch
18、ise,Current liabilities(流动负债）: accounts payable应付账款, salaries payable应付薪金, taxes payable应付税金,Long-term liabilities长期负债: bonds payable应付债,CLASSROOM EXERCISES,Indicate below whether each account is an assets (A), liabilities (L), or a part of owners equity (OE). Cash （ ） Salaries Payable（ ） Accounts R
19、eceivable（ ） Johnson, Capital Land（ ） Accounts Payable（ ） Supplies（ ） Land（ ） Supplies（ ）,OE,A,A,A,A,L,L,A,OE,A,A,A,A,L,L,A,Classroom exercises: 1. Identify the following transactions by type of owners equity transaction by marking each as either an owners investment (I), owners withdrawal (W), reve
20、nue (R), expense (E) or not an owners equity transaction (NOE). a. Received cash for providing a service. ( ), b. Took assets out of business from a personal account. ( ), C. Received cash from a customer previously billed for a service. ( ) d. Transferred assets to the business from a personal acco
21、unt. ( ),e. Paid service station for gasoline. f. Performed a service and received a promise of payment. g. Paid cash to purchase equipment. h. Paid cash to employee for services performed.,Part 2 ILLUSTRATIVE TRANSACTIONS,Transactions 1. John begins his business by depositing $50,000 in a bank acco
22、unt in the name of Shannon Realty. (investment)Assets = Liabilities + Owners Equity 1 $50,000 $50,000 Bal. $50,000 $50,000,2. John purchases a lot for $10,000 and a small building on the lot for $25,000 with cash.(purchase of assets with cash) Assets = Liabilities + Owners Equity$50,000 $50,0002. +1
23、0,000 (land)+25,000 (building) -35,000 (cash) Bal. $50,000 $50,000,3. John buys some office supplies for $500 on credit. (Purchase of assets by incurring a liability)Assets = Liabilities + Owners Equity$50,000 $50,0003. +$500 (supplies) +$500(accounts payable) Bal. $50,500 $500 $50,000,4. John pays
24、$200 of the $500 owed for the supplies. (payment of a liabilities)Assets = Liabilities + Owners Equity$50,500 $500 $50,000-$200 (cash) -$200(accounts payable) Bal. $50,300 $300 $50,000,5. Shannon Realty sells a house and receives a commission in cash of $1,500. Assets = Liabilities + Owners Equity$5
25、0,300 $300 $50,0005. +$1,500 (cash) +$1,500(revenue) Bal. $51,800 $300 $51,500,6. John sells a house calling for a commission of $2,000, but John agrees to wait for the payment. (revenue on credit)Assets = Liabilities + Owners Equity$51,800 $300 $51,500$2,000 (accounts receivable) $2,000 (revenue) B
26、al. 53,800 $300 $53,500,7. A few days later Shannon receives $1,000 from the client.Assets = Liabilities + Owners Equity$53,800 $300 $53,500 7. +$1,000(cash) -$1,000(accounts receivable) bal. $53,800 $300 $53,500,8. John Shannon pays $1,000 to rent some equipment for the office .Assets = Liabilities
27、 + Owners Equity$53,800 $300 $53,500 8. -$1,000(cash) -$1,000(expense)bal. $52,800 $300 $52,500,9. John pays $400 in wages to a part-time helper. (expense)Assets = Liabilities + Owners Equity $52,800 $300 $52,500 9. -$400(cash) -$400(expense) Bal.$52,400 $300 $52,100,10. John hasnt paid the bill of
28、utility expense of $300.Assets = Liabilities + Owners Equity$52,400 $300 $52,100+$300(accounts payable)-$300(expense) Bal. $52,400 $600 $51,800,11. John withdraws $600 in cash from Shannon Realty and deposits it in his personal account.Assets = Liabilities + Owners Equity $52,400 $600 $51,800 11.-$6
29、00(cash) -$600(capital) Ba.$51,800 $600 $51,200,Classroom exercises,Charlene Rudek finished law school in June and immediately set up her own law practice. During the first month of operation she completed the following transactions:1.Began the law practice by placing $2,000 in a bank account establ
30、ished for the business. 2.Purchased a law library for $900 cash. 3.Purchased office supplies for $400 on credit.,4.Accepted $500 in cash for completing a contract. 5.Billed clients $1,950 for services rendered during the month. 6.Paid $200 of the amount owed for office supplies. 7.Received $1,250 in
31、 cash from one client who had been previously billed for services rendered. 8.Paid rent expense for the month in the amount of $1,200. 9.Withdrew $400 from the practice for personal use.,On a sheet of paper, list the numbers 1 through 10, with columns for Assets, Liabilities, and Owners Equity. In t
32、he columns, indicate whether each transaction caused an increase (+), a decrease (-), or no change (NC) in assets, liabilities, and owners equity.,During the month of April, Grissom Co. had the following transactions: 1.Paid salaries for April, $1,800. 2.Purchased equipment on credit, $3000. 3.Purch
33、ased supplies with cash, $100. 4.Additional investment by owner, $4,000.,5.Paid for part of equipment previously purchased on credit, $1,000. 6.Received payment for services performed, $600. 7.Billed customers for services performed, $1,600. 8.Withdrew cash, $1,500.,9.Received payment from customers
34、 billed previously, $300. 10.Received utility bill, $70.,Part 3 Professional Ethics and Accounting Profession,Professional Ethics and the Accounting Profession,Revisions:1. Accounting equation2. Use accounting equation to analyze the transactions.,Accounting Profession,Ethics Management Accounting P
35、ublic Accounting Government and other Not-for-Profit Accounting Accounting Education,EthicsEthics is the application of a code of conduct to everyday life. It addresses the question of whether actions are good or bad, right or wrong. Ethics actions are the results of individual decisions and you are
36、 faced with many ethical situations every day.,Management Accountingan accountant who is employed by a business is said to be in management accounting. A small business may have only one person doing this work, though a medium-size or large company may have hundreds of accountants working under a ch
37、ief accounting officer called a controller, treasurer, or financial vice president.,Public Accountingthe field of public accounting offers services in auditing, taxes, and management consultingto the public for a fee.,Government and Other Not-for-Profit AccountingAgencies and departments at all leve
38、ls of government hire accountants to prepare reports that officials can responsibly carry out their duties.Not-for-Profit organizations are hospitals, colleges, universities, and foundations.,Accounting EducationTraining new accountants is a challenging and rewarding career, and today instructors of
39、 accounting are in great demand.in many schools holding the CPA, CMA, or CIA certificate will help and instructor to advance professionally.,Part 4 Accounts,Revisions,1. Professional ethics 2. The classification of the accounting profession,Accounts,Assets: Cash Notes Receivable Accounts ReceivableP
40、repaid ExpensesLandBuildings Equipment,Cash,Cash is the title of the account used to record increases and decreases in cash. Cash consists of money or any medium of exchange that a bank will accept at face value for deposit. Cash: coins, currency, checks, postal and express money orders, money depos
41、ited in a bank or banks, cash on hand.,Notes Receivable,A promissory note is a written promise to pay a definite sum of money at a fixed future date. Accounts due from others in the form of promissory notes are recorded in an account called Notes Receivable.,Accounts Receivable,Accounts Receivable i
42、s incurred by Credit Sales, or Sales on Account. Credit sales increase Accounts Receivable.,Prepaid Expenses,Prepaid Insurance Office Supplies Prepaid Rent Store Supplies Prepaid Taxes,Land,Land account is used to record purchases of property to be used in the ordinary operations of the business.,Bu
43、ildings,Purchase of structures to be used in the business are recorded in an account called Buildings. Although a building cannot be separated from the land it occupies, it is important to maintain separate accounts for the land and the buildings.,Equipment,Office Equipment: desks, chairs, office ma
44、chines, filing cabinets, and typewriters. Store Equipment:cash registers counters, showcases, shelves, and similar items. Machinery and Equipment: lathes, drill presses and other equipment. Trucks and Automobiles.,Part 6 Liability and Owners Equity,李海红,Revisions,Assets: Cash Notes Receivable Account
45、s ReceivablePrepaid ExpensesLandBuildings Equipment,Liability,Notes Payable Accounts Payable Other Short-Term Liabilities Long-term Liabilities,Owners Equity,Capital Account Withdrawals Account Revenues and Expense,Notes Payable,Notes Payable is the opposite of Notes Receivable. It is used to record
46、 increases and decreases in promissory note amounts owed to creditors within the next year or operating cycle.,Accounts Payable,Accounts Payable is the opposite of Accounts Receivable. It comes from Credit Purchase.,Other Short-Term Liability,Wages Payable Taxes Payable Rent Payable Interest Payable
47、 Unearned Fees Customer Deposit Unearned Revenue,Capital Account,When someone invests in his or her own company, the amount of the investment is recorded in a capital account.,Withdrawal Account,A person who invests in a business usually expects to earn an income an to use at least part of the assets earned from profitable operations to pay personal living expenses.,Revenue and Expense Accounts,Revenues increase owners equity, and expenses decrease owners equity:Commissions EarnedAdvertising Fees EarnedWages ExpenseSupplies ExpenseRent ExpenseAdvertising Expense,
