1、WELCOME!vHavent seen you for some time!罗定市中等职业技术学校李金梅 会计英语会计英语 Accounting EnglishvWhy do we learn Accounting English?vWhat are the learning objectives of Accounting English?vIs Accounting English difficult?Suggestions for studyvPreviewing the text is very important.vAn English Chinese Dictionary of
2、Accounting，英汉双解财会词典英汉双解财会词典UNIT 1An Introduction to AccountingLearning ObjectivesvExplain the definition of accounting;vUnderstand the basic function of accounting;vAs certain the users of accounting information and know why they need the information;vUnderstand the types of accounting information;v
3、Have a general idea of the professional fields of accounting and their duties.vLearn the accounting terms in this chapter and use them in the translation task.vAccount 账户账户 asset account 资产账户资产账户vAccounting 会计（学）会计（学）I majored in accounting.vAccountancy 会计工作、会计学会计工作、会计学vAccountant 会计师会计师 I want to b
4、e an accountant.Bean Counter 数豆子的人数豆子的人vDifferent expressions about“企业企业”in English BusinessEnterpriseFirm 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 thr
5、ee basic accounting elements?Step OneStep One Lead in the new lesson1、What is Accounting?Accounting is a special _ of business.language会计是一种特殊的商业用语。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
6、人提供某物为某人提供某物Eg.Our school often provides delicious food for us.in order to 目的目的/为了为了Eg.We study hard in order to make a contribution to the society 2 2、What is the purpose of the What is the purpose of the accounting?accounting?3、Users of Accounting Information(会计信息的使用者）会计信息的使用者）Owners 业主业主,managers
7、经理经理,creditors 债权人债权人,governments agencies 政府机构政府机构,customers,顾客顾客labor unions工会工会,and competitors对手对手 Revenue 收入收入Expenses 费用费用 Profits 利润利润 Assets 资产资产Liabilities 负债负债 Owners equity 业主权益业主权益/所有者权益所有者权益4、Three basic accounting elements （会计的三个基本要素（会计的三个基本要素）They exist in every business entity.4、Thre
8、e basic accounting elements （会计的三个基本要素（会计的三个基本要素）5、Accounting equation v 资产资产=负债负债 +所有者权益所有者权益 equal plusplus minus=AssetsLiabilities Owners equity+Assets-Liabilities=Owners equityAssets-Liabilities=Owners equityvNet assets=Owners equityNet assets=Owners equity=+-v1、Express 表示表示 v2、Equity are divide
9、d into liabilities and owners equity.divide into 把把.分成分成.eg:We will divide the students into three groups.3、the third can be calculate(compute).计算出来计算出来6、Useful expressions4.Under the business entity principle 在企业实体原则下在企业实体原则下5、the accounting elements are affected（相互影响）（相互影响）by each other.6、The acco
10、unting equation must be in balance.(平衡）平衡）7、Read the phrases and text 8.Do some exercises:Do some exercises:C to E or E to CC to E or E to Casset _ liability _ equity _ special language _useful information_ make decision_accounting element _ 资产资产权益权益特别的言语特别的言语会计要素会计要素有用的信息有用的信息作出决策作出决策负债负债2.Complete
11、 the following sentences.v1)Accounting is a _ _ of business.v2)The purpose of accounting is to provide _ to make _.v3)There are three basic accounting elements:_ _ and _.v4)At all times,the accounting equation must be in _.v5)Equities are divided into _ and _.special language useful information deci
12、sionsassets liabilities owners equity balance liabilities owners equity Step 4、Sum up:1、The accounting purpose and elements.2、Users of Accounting Information.v1.Finish B.Reading Part 1 EX.1 and 2v 2.Read the text by heart vStep 5Step 5、Homework:Homework:UNIT ONE Financial Position and Accounting Equ
13、ation vFinancial position:economic resources belonging to a company and the claims (equities)against those resources at a point in time.vEconomic resources=equitiesvEconomic resources=creditors equity+owners equityvAccounting equation:assets=liabilities+owners equityv four types of transactions that
14、 affect owners equity Owners investmentsOwners equity revenuesOwners withdrawalsexpensesPart 2Part 2Accounting ProcessStep 1 Review v1.Who are the accounting users?v2.Whats the purpose of accounting?v3.What are the basic accounting elements?vThe full form of accounting equation:vAssets=Liabilities+O
15、wners Equity+Revenue-ExpensesOwners equityvDefinition:the residual interest in the assets of an entity that remains after deducting its liabilities.vOwners equity=assets liabilitiesvOwners equity=net assetsLiabilitiesvDefinition:probable future sacrifices of economic benefits arising from present ob
16、ligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events.vKinds of liabilities:current liabilities and long-term liabilitiesAssets v Definition:probable future economic benefits obtained or controlled by a part
17、icular entity as a result of past transactions or events;economic resources owned by a business that are expected to benefit future operations.vKinds of assets:current assets,fixed assets and intangible assets.vEconomic resources are referred to as assets and creditors equities are referred to as li
18、abilities.vEquities:creditors equity and owners equityvCurrent assets:cash,accounts receivable,inventories,vFixed assets:land,buildings,and equipmentvIntangible assets:patent,trademark and brand name,copyright,franchisevCurrent liabilities(流动负债）:accounts payable应付账款,salaries payable应付薪金,taxes payabl
19、e应付税金,vLong-term liabilities长期负债:bonds payable应付债CLASSROOM EXERCISESvIndicate below whether each account is an assets(A),liabilities(L),or a part of owners equity(OE).vCash（）vSalaries Payable（）vAccounts Receivable（）vJohnson,Capital Land（）vAccounts Payable（）vSupplies（）vLand（）vSupplies（）OEAA AALLAOEAA
20、 AALLAvClassroom exercises:v1.Identify the following transactions by type of owners equity transaction by marking each as either an owners investment(I),owners withdrawal(W),revenue(R),expense(E)or not an owners equity transaction(NOE).va.Received cash for providing a service.(),vb.Took assets out o
21、f business from a personal account.(),vC.Received cash from a customer previously billed for a service.()vd.Transferred assets to the business from a personal account.()ve.Paid service station for gasoline.vf.Performed a service and received a promise of payment.vg.Paid cash to purchase equipment.vh
22、.Paid cash to employee for services performed.Part 2 ILLUSTRATIVE TRANSACTIONSvTransactionsv1.John begins his business by depositing$50,000 in a bank account in the name of Shannon Realty.(investment)vAssets =Liabilities +Owners Equity1$50,000$50,000Bal.$50,000$50,000lAssets =Liabilities +Owners Equ
23、ity$50,000$50,000 2.+10,000(land)+25,000 (building)-35,000(cash)Bal.$50,000$50,000v3.John buys some office supplies for v$500 on credit.(Purchase of assets by incurring a liability)vAssets =Liabilities +Owners Equity$50,000$50,000 3.+$500(supplies)+$500(accounts payable)Bal.$50,500$500$50,000v4.John
24、 pays$200 of the$500 owed for the supplies.(payment of a liabilities)vAssets =Liabilities +Owners Equity$50,500$500$50,000 -$200(cash)-$200(accounts payable)Bal.$50,300$300$50,000v5.Shannon Realty sells a house and receives a commission in cash of$1,500.vAssets =Liabilities +Owners Equity$50,300$300
25、$50,000 5.+$1,500(cash)+$1,500(revenue)Bal.$51,800$300$51,500v6.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)Bal.53,800$300$53,500v7.A few
26、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 v8.John Shannon pays$1,000 to rent some equipment for the office.vAssets =Liabilities +Owners Equityv$53,800$300$53,500v8.-$1,000(c
27、ash)-$1,000(expense)v vbal.$52,800$300$52,500v9.John pays$400 in wages to a part-time helper.(expense)vAssets =Liabilities +Owners Equityv$52,800$300$52,5009.-$400(cash)-$400(expense)Bal.$52,400$300$52,100v10.John hasnt paid the bill of utility expense of$300.vAssets =Liabilities +Owners Equityv$52,
28、400$300$52,10010.+$300(accounts payable)-$300(expense)Bal.$52,400$600$51,800v11.John withdraws$600 in cash from Shannon Realty and deposits it in his personal account.vAssets =Liabilities +Owners Equityv$52,400$600$51,80011.-$600(cash)-$600(capital)Ba.$51,800$600$51,200 Classroom exercisesvCharlene
29、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:v1.Began the law practice by placing$2,000 in a bank account established for the business.v2.Purchased a law library for$900 cash.v3.Purchased of
30、fice supplies for$400 on credit.v v4.Accepted$500 in cash for completing a contract.v5.Billed clients$1,950 for services rendered during the month.v6.Paid$200 of the amount owed for office supplies.v7.Received$1,250 in cash from one client who had been previously billed for services rendered.v8.Paid
31、 rent expense for the month in the amount of$1,200.v9.Withdrew$400 from the practice for personal use.vOn a sheet of paper,list the numbers 1 through 10,with columns for Assets,Liabilities,and Owners Equity.In the columns,indicate whether each transaction caused an increase(+),a decrease(-),or no ch
32、ange(NC)in assets,liabilities,and owners equity.vDuring the month of April,Grissom Co.had the following transactions:v1.Paid salaries for April,$1,800.v2.Purchased equipment on credit,$3000.v3.Purchased supplies with cash,$100.v4.Additional investment by owner,$4,000.v5.Paid for part of equipment pr
33、eviously purchased on credit,$1,000.v6.Received payment for services performed,$600.v7.Billed customers for services performed,$1,600.v8.Withdrew cash,$1,500.v9.Received payment from customers billed previously,$300.v10.Received utility bill,$70.v.Part 3 Professional Ethics and Accounting Profession
34、Professional Ethics and the Accounting ProfessionvRevisions:1.Accounting equation 2.Use accounting equation to analyze the transactions.Accounting ProfessionvEthics vManagement AccountingvPublic AccountingvGovernment and other Not-for-Profit AccountingvAccounting EducationvEthics Ethics is the appli
35、cation 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 faced with many ethical situations every day.vManagement Accounting an accountant who is employed by a business
36、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 chief accounting officer called a controller,treasurer,or financial vice president.vPublic Accounting the field of p
37、ublic accounting offers services in auditing,taxes,and management consulting to the public for a fee.vGovernment and Other Not-for-Profit Accounting Agencies and departments at all levels of government hire accountants to prepare reports that officials can responsibly carry out their duties.Not-for-
38、Profit organizations are hospitals,colleges,universities,and foundations.vAccounting Education Training new accountants is a challenging and rewarding career,and today instructors of accounting are in great demand.in many schools holding the CPA,CMA,or CIA certificate will help and instructor to adv
39、ance professionally.Part 4 Accounts Revisionsv1.Professional ethicsv2.The classification of the accounting professionAccountsvAssets:Cash Notes Receivable Accounts Receivable Prepaid Expenses Land Buildings EquipmentCashvCash is the title of the account used to record increases and decreases in cash
40、.Cash consists of money or any medium of exchange that a bank will accept at face value for deposit.vCash:coins,currency,checks,postal and express money orders,money deposited in a bank or banks,cash on hand.Notes ReceivablevA promissory note is a written promise to pay a definite sum of money at a
41、fixed future date.Accounts due from others in the form of promissory notes are recorded in an account called Notes Receivable.Accounts ReceivablevAccounts Receivable is incurred by Credit Sales,or Sales on Account.Credit sales increase Accounts Receivable.Prepaid ExpensesvPrepaid InsurancevOffice Su
42、ppliesvPrepaid RentvStore SuppliesvPrepaid TaxesLand vLand account is used to record purchases of property to be used in the ordinary operations of the business.Buildings vPurchase of structures to be used in the business are recorded in an account called Buildings.vAlthough a building cannot be sep
43、arated from the land it occupies,it is important to maintain separate accounts for the land and the buildings.EquipmentvOffice Equipment:desks,chairs,office machines,filing cabinets,and typewriters.vStore Equipment:cash registers counters,showcases,shelves,and similar items.vMachinery and Equipment:
44、lathes,drill presses and other equipment.vTrucks and Automobiles.Part 6 Liability and Owners Equity 李海红Revisions vAssets:Cash Notes Receivable Accounts Receivable Prepaid Expenses Land Buildings EquipmentLiabilityvNotes PayablevAccounts PayablevOther Short-Term LiabilitiesvLong-term LiabilitiesOwner
45、s EquityvCapital AccountvWithdrawals AccountvRevenues and ExpenseNotes PayablevNotes Payable is the opposite of Notes Receivable.vIt is used to record increases and decreases in promissory note amounts owed to creditors within the next year or operating cycle.Accounts PayablevAccounts Payable is the
46、 opposite of Accounts Receivable.It comes from Credit Purchase.Other Short-Term LiabilityvWages PayablevTaxes PayablevRent PayablevInterest PayablevUnearned FeesvCustomer DepositvUnearned RevenueCapital AccountvWhen someone invests in his or her own company,the amount of the investment is recorded i
47、n a capital account.Withdrawal AccountvA 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 AccountsvRevenues increase owners equity,and expenses decrease owner
48、s equity:Commissions Earned Advertising Fees Earned Wages Expense Supplies Expense Rent Expense Advertising ExpenseT-Account and Double-Entry System 李海红Revisions vAssets accountsvLiabilities accountsvOwners Equity accountsT account and Double-Entry SystemvEvolution of the double-entry systemvThe T-a
49、ccount Debit Credit for for Decrease Increase Assets =Liabilities +Owners Equity Debit Credit for for Decrease Increase Debit Credit for for Increase Decrease JOURNALS and JOURNALIZINGvJournals:general journal;special-purpose journalvJournalizing:the process of recording transactions in a journal.HE
50、xamplesvThe following transactions for the Joan Miller Advertising Agency happened in January:vJanuary 1.Joan Miller invested$10,000 to start her own advertising agency.vJanuary 2.Rented an office,paying two months rent,$800.vJanuary 5.Purchased office equipment from Morgan Equipment for$3,000,payin
