会计英语整理共79张课件

会计英语整理26、机遇对于有准备的头脑有特别的亲和力。27、自信是人格的核心。28、目标的坚定是性格中最必要的力量泉源之一，也是成功的利器之一。没有它，天才也会在矛盾无定的迷径中，徒劳无功。-查士德斐尔爵士。29、困难就是机遇。-温斯顿丘吉尔。30、我奋斗，所以我快乐。-格林斯潘。会计英语整理26、机遇对于有准备的头脑有特别的亲和力。会计英1double-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 nRelevant Glossarydouble-entry bookkeeping复式簿记 R2nbusiness/source documentndebitncreditnjournalnspecial(general)journalncomputerized accounting systemnchart of accountnledgerngeneral(subsidiary)ledgernpostntrial balancenbalance sheetnincome statementnaccounting 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nRelevant Glossary(2)business/source document业务凭证/原3nRecording PhaseStep 1AnalyzingbusinessdocumentsStep 3Posting toledgeraccountsStep 2JournalizingtransactionsSpecial journalGeneral journalGeneral ledger(Control account)Subsidiary ledgerRecording PhaseStep 1Step 3Ste4financial positionadjusting entriesprepaid expensedepreciation expenseaccumulated depreciationunearned revenueaccrued expensenominal(temporary)accountreal(permanent)accountcloseproprietorshippartnershippost-closing trial balance财务状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 nRelevant Glossaryfinancial position财务状况1-2 Repo5A 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 ledger are equal.To show all general ledger account balances on one concise record.nTrial balancenKnowledge PointsA list of the account titles i6Possible 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 accounts.Making a compensating error that exactly offsets the effect of another error.nTrial balance(continued)Possible errors even a trial b7Four types of adjusting entries:Apportioning 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 权责发生制 收付实现制nAdjusting ProceduresRevenue 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 recognized when money is received and expenses are recognized when money is paid.Four types of adjusting entrie8Normal accounts and real accountsnClosing ProceduresIncome statement accountsBalance sheet accountsrevenueexpensedividendsassetsliabilitiescapitalretained earningsNormal accounts and real accou9nBasic principles:nhistorical cost 历史成本原则nrevenue realization 收入实现原则nmatching 配比原则nconsistency 一致性原则nfull disclosure 充分披露原则nobjectivity 客观性原则nGAAP must be followed by publicly owned corporations:auditingnGAAP are changed and refined.Basic principles:10Business(source)documentOffering detailed informationAssigning responsibilityVerifying the accounting recordsBusiness(source)documentOffe11financial reportaccounting calculationoperating resultcash flow statementnotes to the financial statementcreditorsgovernment departmentfinance and security institutionmanagementAccounting Standards for Business Enterprisen财务报告n会计核算n经营成果n现金流量表n会计报表附注n债权人n政府职能部门n金融和证券机构n（企业）管理层n企业会计准则2-1 Introduction nRelevant Glossary12financial report财务报告2-1 Introdshot-term liquiditylong-term solvencycapital structure profitabilityworking capitalcontingencyaccount formreport form“T”account2-1 Introduction nRelevant Glossaryn短期偿债能力n长期偿债能力n资本结构n盈利能力n营运资本，营运资金n或有事项n账户式n报告式 nT形账13shot-term liquidity2-1 Introduaccounting treatmentcurrent periodprior periodunusual itemshistorical costmarket valuemeasurement currencyinflationpurchasing power2-1 Introduction nRelevant Glossaryn会计处理n当期 n前期n非常项目n历史成本n市场价值（市价）n计量货币n通货膨胀n购买力14accounting treatment2-1 Introdshort-term investmentnotes/accounts receivableprovision for bad debtsnet valuefixed assetconstruction in progressdeferred tax on debit/creditshort-term loans(payable)notes/accounts payablen短期投资n应收票据/账款n坏账准备n净值n固定资产n在建工程n递延税款借项/贷项n短期借款n应付票据/账款2-2 The Balance Sheet and Notes to the Financial Statements nRelevant Glossary15short-term investment短期投资2-2 Tnadvances from customersnaccrued payroll/welfarendividends/profits payablentaxes payable nother dutiablenestimable liabilitiesnprovision for expensesnpaid-in capitalncapital reservensurplus reservenundistributed profitnRelevant Glossary(2)n预收账款n应付工资/福利费n应付股利/利润n应交税金n其他应交款n预计负债n预提费用n实收资本n资本公积n盈余公积n未分配利润16advances from customersRelevanTo help explain,evaluate and predictshort-term liquiditycapital structure and long-term solvencythe operating performancenThe Functions of the Balance SheetnKnowledge Points17To help explain,evaluate and allowing 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 liabilities,is the residual claim to the equity of a business.nAssets-Liabilities=Owners equity18allowing the users to tell at 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 items similarly:incomparable between different companiesnSome relevant information is omitted19Limitation of the Balance Sheeprofit distributionrealization conceptrevenue recognitionIASB:International Accounting Standard BoardFASB:Financial Accounting Standard Boardconceptual frameworkmatching conceptn利润分配n实现原则n收入确认n国际会计准则理事会n（美国）财务会计准则委员会n概念框架n配比原则2-3 The Income Statement nRelevant Glossary20profit distribution利润分配2-3 Thendirect matchingndepreciation and amortizationnexpenditurenoperating revenue/costnoperating taxes and surchargesnselling expensenadministrative expensenfinancial expensennon-operating income/expensenincome taxnsingle-step form nmultiple-step form nRelevant Glossary(2)n直接配比n折旧与摊销n支出，花费n营业收入/成本n营业税金及附加n销售费用n管理费用n财务费用n营业外收入/支出n所得税n单步式n多步式21direct matchingRelevant GlossaTo 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.nThe Functions of the Income StatementnKnowledge Points22To help explain,evaluate and Simple and convenient to prepare,butFails to disclose some important information,and is inconvenient to compare and analyze.nForm of the Income StatementSingle-step FormMulti-step FormnProvides 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.23Simple and convenient to prepaCash receipts and cash disbursements/paymentsCash equivalentliquidityOperating/investing/financing activityWorking capitaldepositFinancial instrumentEquity financingDebt financingDirect methodIndirect methodnoncurrentn现金收支n现金等价物n流动性，变现能力n经营/投资/筹资活动n营运资本，营运资金n存款，押金，保证金n金融工具n权益融资n债务融资n直接法n间接法n非流动的2-4 The Statement of Cash FlowsnRelevant Glossary24Cash receipts and cash disbursSometimes 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 Statement of CF?nKnowledge Points25Sometimes net income doesnt tThe 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 instruments not intended for trading purposes;collecting loans26The Structure of CF statementCCash outflow:purchasing long-term assets,financial instruments not intended for trading purposes;making loansCF from financing 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)nThe Structure of CF statement27Cash outflow:purchasing long-CF From Operating ActivitiesnDirect method Operating inflows-Operating outflows=Net cash flow from operationsnAdvantages:intuitively understandable.nDisadvantages:not suggest why the net operating CF differs from the net income.An illustration28CF From Operating ActivitiesDioperating cyclecurrent assetsintangible assetsreceivablesprepaymentsinventoryfinished goodssemifinished goodsgoods in processContainerLow-value and perishable articlesn经营周期经营周期n流动资产流动资产n无形资产无形资产n应收款应收款n预付款预付款n存货存货n产成品产成品n半成品半成品n在产品在产品n包装物包装物n低值易耗品低值易耗品3-1 Assets,Liabilities and Equity nRelevant Glossary29operating cycle经营周期3-1 Assets,nspecific identificationnfirst-in first-out(FIFO)nlast-in first-out(LIFO)nweighted averagenmoving averagenlower of cost or market(LCM)nshares investmentnbonds investmentncost methodnequity methodnRelevant Glossary(2)n个别计价法个别计价法n先进先出法先进先出法n后进先出法后进先出法n加权平均法加权平均法n移动平均法移动平均法n成本与市价孰低法成本与市价孰低法n股权投资股权投资n债券投资债券投资n成本法成本法n权益法权益法30specific identificationRelevannat a premium or discount/in premium or discountnface value/par valuenprincipalninterestnfixed assets financed by leasingnresidual valuenstraight line methodnworking capacity(or output)methodnaccelerated depreciation methodnRelevant Glossary(3)n溢价或折价发行溢价或折价发行n票面价值，面值票面价值，面值n本金本金n利息利息n融资租入固定资产融资租入固定资产n残值残值n直线法直线法n工作量法（产量法）工作量法（产量法）n加速折旧法加速折旧法31at a premium or discount/Relevnpatentnnonpatented technologyntrademarkncopyrightsnright to use sitesngoodwill ncurrent liabilitiesnlong-term liabilitiesnfinancial institution nRelevant Glossary(4)n专利专利n非专利技术非专利技术n商标商标n著作权著作权n土地使用权土地使用权n商誉商誉n流动负债流动负债n长期负债长期负债n金融机构金融机构32patentRelevant Glossary(4)专利3Basic operating revenueother operating revenueLong-term project contractThe completed progress methodThe completed contract methodReturn of salesSales allowancesSales discountOutlayNorm costingPlanned costingCost variancen主营业务收入主营业务收入n其他业务收入其他业务收入n长期工程合同长期工程合同n完工进度法完工进度法n完工成本法完工成本法n销售退回销售退回n销售折让销售折让n销售折扣销售折扣n费用、花费费用、花费n标准标准/定额成本法定额成本法n计划成本法计划成本法n成本差异成本差异3-2 Revenue,Expenses and Profit nRelevant Glossary33Basic operating revenue主营业务收入3nOperating profitnOperating revenuenOperating costnPeriodic expensenTurnover taxnIncome taxnSurtaxnFeenInvestment profitnExternal investmentnInvestment lossnNon-operating incomenNon-operating expensenRelevant Glossary(2)n营业利润营业利润n营业收入营业收入n营业成本营业成本n期间费用期间费用n流转税流转税n所得税所得税n附加税附加税n费，酬金费，酬金n投资收益投资收益n对外投资对外投资n投资损失投资损失n营业外收入营业外收入n营业外支出营业外支出34Operating profitRelevant GlossReading Material:The Forms of Business OrganizationsThree/Four forms:Sole proprietorshipPartnershipGeneral partnershipLimited partnershipCorporation35Reading Material:The FormsReading Material:The Forms of Business OrganizationsThree/Four forms:Sole proprietorshipPartnershipGeneral partnershipLimited partnershipCorporation36Reading Material:The Formsowned 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 proprietorship37owned and managed by one persopartners 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 partnership38partners agree to share in thesimilar to a general partnership in certain 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 partnership39similar to a general partnershCreated under a particular business statute;Owned by one or more shareholders,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 Corporation40Created under a particular busConsiderations of the selection of the most advantageous form of organization:Continuity of existence连续性的存在Transferability of ownership interest所有权的移植Capital and credit requirements资本和信贷需求Tax considerationsnThe Forms of Business Organizations41Considerations of the selectiSole 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 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 of the partnership.Corporation:perpetual existencenContinuity of existence42Sole proprietorship:the deathSole 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 the greatest flexibility,but in some cases,securities laws may restrict the transferability.nTransferability of ownership interest43Sole proprietorship:may be trSole proprietorship:limited to his own personal resources in his ability to 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 partnership 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 requirements44Sole proprietorship:limited tSole 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 taxation(corporate income tax and personal income tax).nTax considerations45Sole proprietorship:all businSize 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(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 firms stock price will be.nFactors affecting a firms value46Size of expected future cash fTiming 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)47Timing of future cash flowsFacRisk 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 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 future cash flows are virtually certain.nFactors affecting a firms value(3)48Risk of future cash flowsFactoFinancial obligationFinancial distressCurrent ratioQuick ratio/acid-test ratioQuick assetsReceivables turn&days receivablesPayable turn&days payableInventory turn&days inventoryDebt ratioDebt-to-equity ratioEquity multiplierInterest coveragen财务责任n财务困境n流动比率n速动比率/酸性测试比率n速动资产n应收账款周转率&平均收账期n应付账款周转率&平均付款期n存货周转率&存货周转天数n负债比率n负债权益比n权益乘数n利息保障倍数nRelevant Glossary49Financial obligation财务责任RelevaEBIT(earnings 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 leveragen息税前利润息税前利润n账面价值账面价值n资本比率资本比率n基准基准n销售利润率销售利润率n销售收益率销售收益率n投资收益率投资收益率/投资回报率投资回报率n资产收益率资产收益率n权益报酬率权益报酬率/净资产收益率净资产收益率n财务杠杆财务杠杆nRelevant Glossary(2)50EBIT(earnings before interestnPreferred dividendnEPS(earnings per share)nDividend yieldnPayout rationRetention rationAsset turnovernCommon stocknFair market valuenP/E rationM/B(market-to-book value)nTobins QnReplacement valuenDuPont frameworknRelevant Glossary(3)n优先股股利n每股收益n股利收益率n股利支付率n留存比率n资产周转率n普通股n公平市价，公允价值n市盈率n市值与账面价值比n托宾Q值n重置价值n杜邦分析框架51Preferred dividendRelevant GloRatios standardize numbers and facilitate comparisons.Ratios are used to highlight weaknesses and strengths.nWhy Are Financial Ratios Useful?52Ratios standardize numbers andnShort-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?nEfficiency: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 Ratio53Short-term Liquidity:Can we mCurrent ratioQuick ratioQuick asset=Current assets-InventoriesReceivables turn&days receivablesInventory turn&days inventoryAmount of working capitalnShort-term Liquidity54Current ratioShort-term LiquidNet worth to total assetsDebt ratioDebt ratioDebt-to-equity ratioEquity multiplierInterest coveragenLong-term Solvency and Capital Structure:55Net worth to total assetsLong-Net Profit marginROS(returns on sales)ROA(returns on assets)ROE(returns on equity)=ROI(return on investment)Return on common shareholders equitynProfitability56Net Profit marginProfitabilityEPS(earnings per share)Dividend yieldPayout ratioRetention rationProfitability(2)57EPS(earnings per share)ProfitTotal asset turnoverFixed asset turnoverReceivables turn&days receivablesInventory turn&days inventorynEfficiency58Total asset turnoverEfficiencySales growthProfit growthAsset growthEquity growthSustainable growth ratenGrowth59Sales growthGrowth59Market priceP/E ratio:How much investors are willing to pay for$1 of earnings?Market-to-book(M/B)value:How much investors are willing to pay for$1 of book value equity?Tobins QnMarket Value Ratio60Market priceMarket Value RatioComparison with industry averages is difficult for a firm that operates in many different divisions.“Average”performance is not necessarily good,perhaps the firm should aim higher.Seasonal factors can distort ratios.“Window dressing”techniques can make statements and ratios look better.nPotential problems and limitations of financial ratio analysis61Comparison with industry averaDifferent operating and accounting practices can distort comparisons.Sometimes it is hard to tell if a ratio is“good”or“bad”.Difficult to tell whether a company is,on balance,in strong or weak position.nPotential problems and limitations of financial ratio analysis(2)62Different operating and accounnDoPont System ROE ROAEquity multiplierNet profit marginTotal asset turnoverNet incomeSalesSalesTotal assetsProfitability of TAProfitability of SalesEfficiencyProfitability of equityLeverageEfficiencyProfitability of Sales63DoPont System ROE ROAEquity nDoPont System(2)The DoPont system tells us that ROE is affected by three things:1.operating profitability(as measured by net profit margin)2.asset use efficiency(as measured by total asset turnover)3.financial leverage(as measured by the equity multiplier)64DoPont System(2)The DoPont synDoPont System(3)Weakness in either operating profitability or asset use efficien