会计学原理英文名词解释

《会计学原理》名词解释1.Accounting: is an information and measurement system thatidentifies records and communicates relevant reliable and comparable information about an organization’s business activities.(P2)2.Managerial accounting: is the area of accounting that servesthe decision-marking needs of internal users.(P4)3.Events: refer to happenings that affect an entity’saccounting equation and can be reliably measured.(P11) 4.External user: of accounting information are not directlyinvolved in running the organization.(P3)5.Internal user: of accounting information are those directlyefficiency and effectiveness of an organization.(P4)6.Ethics: are beliefs that distinguish right from wrong. Theyare accepted standards of good and bad behavior.(P5)7.Cost principle: means that accounting information is basedon actual cost.(P7)8.Revenue recognition principle: provides guidance on when acompany must recognize revenue.(P7)9.Matching principle: prescribes that a company must recordsits expenses incurred to generate the revenue reported.(P7) 10.Going-concerning assumption: means that accountinginformation reflects a presumption that the business will continue operating instead of being closed or sold.(P7) 11.Audit: through review of an organization’s accountingrecords and accounting reports and return make by the analysis. income:amount a business earns after paying allexpenses and costs associated with its sales and revenues.(P15)13.Income statement: describes a company’s revenues andexpenses along with the resulting net income or loss overa period time due to earnings activities.(P14)14.Statement of owner’s equity: explains changes in equityfrom net income (or loss) and from any owner investments and withdrawals over a period of time.(P14)15.Balance sheet: describ es a company’s financialposition (types and amounts of assets liabilities and equity) at a point in time.(P15)16.Statement of cash flows: identifies cash inflows(receipts) and cash outflows (payments) over a period of time.(P15)17.Owner’s withdrawals account: the account used to recordthe transfers of assets from a business to its owner. (P31)18.Liabilities: is what a company owes its no owners(creditors) in future payments, products, or services.(P10)19.Accounting equation: Assets=Liabilities + Equity.(P10)20.Accrued expense: refer to costs that are incurred in aperiod but are both unpaid and unrecorded.(P66)21.Operating cycle: is the time span from when cash is usedto acquire goods and services until cash is received from the sale of goods and services. (P96)22.Shareholders (investors): are the owners of acorporation. (P3)23.Current radio: a ratio used to help evaluate a company’sability to pay its debts in the near future.24.Merchandise inventory: refers to products that a companyowns and intends to sell.(P113)25.Cash discount: reduction in a receivable or payable ifit is paid within the discount period. sellers can grant a cash discount to discourage buyers to pay earlier(P137) 26.Gross profit: also called Gross margin, which equals netsales cost of goods sold.(P137)27.Credit period: the amount of time allowed before fullpayment is due.(P137)28.Acid-test ratio: a ratio used to assets a company’sability to pay its current liabilities; defined by current liabilities.29.Selling expense: include the expenses of promoting salesby displaying and advertising merchandise, making sales, and delivering goods to customers.(P124)30.General and administrative expense: support a company’soverall operations and include expenses related to accounting, human resource management, and financial management.(P124)31.Time period assumption: presumes that the life of acompany can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods.(P7)32.Account receivable: are held by a seller and decreasedby customers to sellers.(P29)33.Prepaid account (also called prepaid expenses): areassets that represent prepayments of future expenses (not current expenses). (P29)34.Unearned revenue: refers to a liability that is settledin the future when a company delivers its products or services.(P30)35.Accrued liabilities: is the company’s debt owed. Forexample, salaries payable, taxes payable, and interest payable and so on.(P31)36. Purchase discount: purchaser’s description of a cashdiscount received from a supplier of goods.(P137)37.Sales discount: seller’s description of a cash discountgranted to buyers in return for early payment.(P137)38.Trade discount: reduction below list or catalog price hatis negotiated in setting the price of goods.(P137)39.FOB shipping point (FOB factory): means the buyer acceptsownership when the goods depart the seller’s place of business.(P117)40.FOB destination: means ownership of goods transfers tothe buyer when the goods arrive at the buyer’s place of business. (P117)41.Credit terms: for a purchase include the amounts andtiming of payments from a buy to a seller.(P114)42.Current assets: are cash and other resources that areexpected to be sold, collect, or used within one year or the company’s operating cycle, whichever is longer.(P97) 43.Plant assets: refers to long-term tangible assets usedto produce and sell products and services.(P98)44.Long-term investment: notes receivable and investmentsin stocks and bonds are long-term assets when they are expected to be held for more than the longer of one year or the operating cycle.(P98)45.Intangible assets: are long-term resources that benefitbusiness operations, usually lack physical form, and have uncertain benefits. (P98)46.Current liabilities: are obligations due to be paid orsettled within one year or the operating cycle, whichever is longer.(P98)47.Long-term liabilities: are obligations not due withinone year or the operating cycle, whichever is longer.(P98) 48.Accounting cycle: refers to the steps in preparingfinancial statements.(P95)49.Temporary (or nominal) accounts: accumulate data relatedto one accounting period.(P91)50.Permanent (or real) accounts: report on activitiesrelated to one or more future accounting periods.(P91)。