实用会计英语(第四版) (8)
会计英语八章 优质课件
Few companies that grant credit to customer get away from suffering credit losses. The losses due to uncollected accounts from customers are generally described as bad debts.
The answer is clear that granting credit results in high inventory turnover and increasing sales volume. Even though bad debits incurred, most of the product cost is recovered, and the return of income offsets the uncollectible accounts enough.
(2) notes receivable
(3) other receivable
Accounts receivable are amount due from customers. They arise from selling goods or services on credit. Accounts receivable are expected to be collected within one year and are classified as current assets on the balance sheet.
That is, bad debt is recorded only when actual loss is confirmed.
会计专业英语 (8)
1.英语视听 2.专业术语
3.典型例句
4.典型例题 5.小结
Unit8 第8单元
英语试听
专业术语
典型例句
典型例题
小结
专业 术语
指特定领域对一些特定事物的统一的业内称谓 也是在专业交流时对名称的简介用语
现金收付实现制 权责发生制 商业折扣 现金折扣 现销 赊销 生产成本 直接材料 直接人工 期间费用
公司应该在什么时间记录这6 000美元的佣金收入，6月还是7月？ 公司应该在6月10日记录这笔收入，提供了服务销售客户的房子。尽 管公司不会收到这笔佣金在7月之前，它还必须在6月10日记录应收 账款。今年7月，收到此笔应收账款时，公司不能第二次记录收入。 收回一个应收金额增加资产，现金，减少其他资产应收账款。因此， 收回应收账款并不增加所有者权益，并不代表收入。
When should the company record this $ 6 000commission revenue—in May, June, or July? The company should record this revenue on June 10—the day it rendered the service of selling the client’s house. As the company will not collect this commission until July, it must also record an account receivable on June 10. In July, when this receivable is collected, the company must not record revenue a second time. An amount receivable increases one asset, cash, and decreases other asset—accounts receivable. Thus, collecting an account receivable does not increase owners’ equity and does not represent revenue.
会计学英语电子版课件08
EFFECTS OF DIRECT WRITEOFF METHOD
THE ALLOWANCE METHOD
Allowance method
Required when bad debts are deemed to be material in amount
Uncollectible accounts are estimated At the end of each period Expense for the uncollectible accounts is
10
Review
a. b. c.
d.
Accounts receivable include Interest receivable. Advances to employees. Amounts customers owe from purchasing goods and/or services. Income taxes receivable.
9
RECOGNIZING ACCOUNTS RECEIVABLE
General Journal Date July 5 Account Titles Sales Returns and Allowances Accounts Receivable – Polo Company Debit 100 Credit
16
DIRECT WRITE-OFF METHOD
Direct write-off method
An entry is made for bad debts expense when an account is determined to be uncollectible at which time the loss is charged to Bad Debts Expense
_会计英语(B)试题及答案《实用会计英语》(第四版)李海红[5页]
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会计英语期末考试题I. Words and terms (20%)1. bankruptcy _________2. financial performance________3. debit ______________4. compound entry__________5. accrual accounting__________6. gross proceeds____________7. marketable securities __________ 8.operating expenses___________9. cash flow______________ 10. store credit_____________11.预付费用＿＿＿＿＿＿＿＿ 12.累计折旧＿＿＿＿＿＿13.试算平衡＿＿＿＿＿＿＿＿ 14.资产负债表＿＿＿＿＿＿＿＿15.业主提款账户＿＿＿＿＿＿＿ 16.坏账准备账户＿＿＿＿＿＿＿＿17.贴现利息＿＿＿＿＿＿＿＿ 18.会计循环＿＿＿＿＿＿＿19.股息＿＿＿＿＿＿＿＿ 20.日记账＿＿＿II Fill in the blanks with proper words.(20%)1. Accounting profession is sorted into ____________________, government accounting, management accounting and __________________.2._________________,____________________________,_________________________are the three basic forms of business activities.3.____________________________ is considered as the heart of modern accounting.4. Basically, the T account has three parts: _______________, the debit and ______________.5.Each source document should include at least three parts: the date, the_________________ and ______________________________________.6. After the transactions have been entered in the journal, they must be transferred to the _______________________________ and this process is called ____________.7. The first step of the closing entries is the ________________ accounts are closed by transferring their balances to the ___________________________ account.8. At the beginning of accounting period, the investment cost of marketable securities includes _____________________, taxes, and ________________________ .9. The accounts that can’t be collected are called _____________________________ or ___________________.10. A 60-day, 6%, $4000 note was issued on October 3rd. The note will be due on ________________ and the maturity value of the note is _________________.III. Write T ( true) before the statements which are true and (F) which are false.(5%)1. ( ) The profits and losses in a partnership must be allocated equally by the partners.2. ( ) The total of the debits equals the total of the credits means there is not any error in the process of recording and calculating.3. ( ) The balance of the temporary accounts such as revenue, expense and withdrawals should be zero in preparation for the start of the next accounting period.4. ( ) The collection of the credit sales will increase the balance of Accounts Receivable.5. ( ) The company can discount the promissory note to the bank or other financial units when it needs cash.IV. Match the classifications in Column A with the expression in Column B and write the correct letters on the lines.(15%)Column A Column BCurrent asset a. cash in the safe________________ b. five-year bondsc. lathesd. drillse. accounting system softwareLong –term asset f. cash in bank_______________ g. pencilsh. stationaryi. brand namej. import quotasIntangible asset k. notes receivable______________ l. desksm. motion picture filmn. customer and supplier relationshipo. countersV. Translate the following sentences (15%)1.Bookkeeping is the day-to-day record-keeping involved in the process of accounting.2. The journal records transactions day by day and shows an explanation of each transaction.3. If the prepaid expenses are not adjusted at the end of accounting period, the assets will be exaggerated and the expenses will be understated.4. Income statement is used to track revenues and expenses so that you can determine the operating performance of the business over a period of time.5.While profit is the amount of money you expect to make over a given period of time, cash iswhat you must have to keep your business running.VI. Calculation ( 10% )1.At the beginning of the year , Kevin Young company ‘s assets were 220,000, and its ownersequity was $ 123,000 . During the year, assets increased $60,000, and the liabilities decreased $ 10,000. What was the owner’s equity at the end of the year?2. A sale is made on August 1 for $ 400 ,terms 2/10, n/30, on which a sales return of $ 100 isgranted on August 6 .What is the dollar amount received for payment in full on August 9 ?VII. Make entries (15%)Tom Vega, after receiving his degree in computer science, began his own business called A Star System Company. He completed the following transactions soon after starting the business. Make entries to record these transactions using the following account titles: Cash, Accounts Receivable, Prepaid Rent, Computer Supplies, Minicomputer, System Library, Accounts Payable, Service Revenue, Expense, Tom Vega, Capital and Tom Vega, Withdrawals.1.Tom began his business with a $10,000 cash investment, and a system library, which cost$920.2.Paid two months’ rent for an office. Rent is $360 per month.3.Purchased a minicomputer for $4,500 in cash.4.Purchased computer supplies on credit, $620.5.Collected revenue from a client, $730.6.Billed a client $450 upon completion of a short project.7.Paid expenses of $230.8.Received $450 from the client billed previously.9.Withdrew $210 in cash for personal expense.10.Paid $620 of amount owed in transaction 4.会计英语答案I. Words and terms1. 破产2. 财务业绩3.借方4.复合分录5. 权责发生制会计6.毛利润7.有价证券8.营业费用9.现金流10.赊账11.Prepaid Expense 12. Accumulated Depreciation 13. trial balance 14. balance sheet 15. Withdrawals Account 16. Allowance for Uncollectible Accounts 17. discount 18. accounting cycle 19. dividend 20. journal评分标准：共计20分，每题1分。
会计英语第四版试题及答案
会计英语第四版试题及答案Section 1: Multiple Choice Questions1. Which of the following is a primary function of accounting?a) Data analysisb) Financial forecastingc) Budgetingd) Asset managementAnswer: a) Data analysis2. Which financial statement shows a company's revenues and expenses over a specific period of time?a) Balance sheetb) Income statementc) Statement of cash flowsd) Statement of retained earningsAnswer: b) Income statement3. The accrual basis of accounting recognizes revenues and expenses when:a) Cash is received or paidb) Goods are sold or purchasedc) Services are provided or receivedd) Assets are acquired or disposed ofAnswer: c) Services are provided or received4. The accounting equation can be expressed as:a) Assets = Liabilities + Owner's Equityb) Revenues - Expenses = Net Incomec) Cash Inflows - Cash Outflows = Net Cash Flowd) Assets + Liabilities = Owner's Equity + Revenues - ExpensesAnswer: a) Assets = Liabilities + Owner's Equity5. Which of the following statements is true about the International Financial Reporting Standards (IFRS)?a) They are principles-based accounting standardsb) They are used primarily in the United Statesc) They have been adopted by all countries globallyd) They focus only on financial reporting for public companiesAnswer: a) They are principles-based accounting standardsSection 2: Short Answer Questions1. Define the term "depreciation" in accounting.Depreciation is the systematic allocation of the cost of an asset over its useful life. It represents the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors.2. What are the three main financial statements prepared by a company?The three main financial statements are the balance sheet, income statement, and statement of cash flows.3. Explain the difference between accounts payable and accounts receivable.Accounts payable refers to the money a company owes to its creditors or suppliers for goods or services received but not yet paid for. Accounts receivable, on the other hand, represents the money owed to a company by its customers for goods or services provided but not yet received payment for.4. What is the purpose of a trial balance in accounting?The purpose of a trial balance is to ensure the accuracy of the accounts and records by comparing the total debits and credits. It helps identify any errors or discrepancies that need to be rectified before preparing financial statements.5. Briefly explain the concept of "double-entry" bookkeeping.Double-entry bookkeeping is a system of recording financial transactions that requires each transaction to have at least two entries – a debit and a credit. This system ensures that the accounting equation (assets = liabilities+ owner's equity) remains in balance and helps maintain the accuracy of the financial records.Section 3: Essay Questions1. Discuss the role of ethics in accounting.Ethics plays a crucial role in accounting as it ensures the integrity, transparency, and fairness of financial reporting. Accountants are expectedto adhere to professional codes of conduct and ethical guidelines to maintain objectivity, confidentiality, and independence. Ethical behavior in accounting helps build trust among stakeholders, prevents fraudulent practices, and promotes accountability in financial management.2. What is the importance of internal controls in accounting?Internal controls are essential in accounting as they help safeguard assets, prevent and detect fraud, ensure accuracy in financial statements, and promote operational efficiency. They include procedures, policies, and mechanisms that mitigate risks, maintain the reliability of financial information, and protect a company's resources. Effective internal controls contribute to better financial management, compliance with regulations, and overall organizational success.3. Explain the concept of "going concern" in accounting.The concept of "going concern" in accounting assumes that a company will continue its operations and fulfill its obligations in the foreseeable future. It implies that the entity is financially stable, has sufficient resources to operate, and does not plan to liquidate or significantly curtail its activities. This assumption influences the valuation of assets, liabilities, and thepreparation of financial statements, giving stakeholders an understanding of the company's ability to continue as a viable entity.In conclusion, accounting is a fundamental aspect of business management that involves various principles, concepts, and practices. It serves as a tool for financial analysis, decision-making, and communication of financial information. Understanding accounting concepts and applying them accurately is crucial for professionals in the field to ensure reliable and transparent financial reporting.。
会计英语(第四版)
第一章会计总论学习目标：1.了解会计信息系统2.应用公认会计准则3.了解财务报表4.运用会计要素5.运用会计等式6.了解会计及其环境本章讨论不同的使用者对会计信息的需求，介绍不同实体对会计职业的影响、会计职业道德及职业行为准则。
本章也将对公认会计准则以及一些相关概念和原则进行解释。
本章将介绍会计等式：资产＝负债＋所有者权益，并逐一定义会计等式中的每个要素，举例分析不同业务对会计等式的影响。
同时，本章还将简单介绍财务报表。
1.1 会计是一个信息系统我们通常把会计描述为一个信息系统。
作为一个信息系统，会计计量经济活动，将信息编制成财务报表，并将财务报表传达给决策者。
会计的围包括：确认经济事项，进行计量、记录、汇总，并把信息报告给使用者。
会计所涵盖的围要大于簿记。
图表1－1是信息在会计系统的流转图。
簿记是对交易和事件的记录，只是会计的一部分。
会计还包括对会计信息的分析和阐述，以帮助财务报表的外部和部的使用者制定各项经济决策。
图表1-1 会计信息流转会计信息使用者主要是投资者和债权人，政府，工会，普通公众也会使用会计信息。
1.2 组织形式企业有三种组织形式：个人独资企业是指由一个自然人投资拥有的企业组织。
个人独资企业是一个会计实体，但并不是法律实体个人独资企业的所有者对企业的债务承担无限责任，这也是个人独资企业的一个主要缺点。
合伙企业与个人独资企业的区别只在于它有两个或两个以上的所有者。
合伙企业的所有者被称为合伙人。
现实商业活动中有许多不同类型的合伙企业。
公司是依据当地法律注册成立的单独实体；公司的所有者被称为股东。
股东不对公司的债务负责。
有限责任是公司这种组织形式的一个显著优点。
公司的所有权被分为股份。
股份可以在所有者之间转让。
1.3 编报财务报表的框架由于各个国家的法律和经济环境不同，各国有不同的会计模式。
在一个国家可行的会计实务在另一个国家并不一定可行。
由于各国的会计模式不同，所以我们需要制定一个互相协调的会计标准：用全球通用的会计语言来传达相关的且可靠的会计信息。
实用会计英语Chapter 8 Adjustments
8-17
Analysis of Transaction
Assets decreased. Owner’s equity decreased. Decreases in assets are recorded by credits. Decreases in owner’s equity are
recorded by debits. Decrease in owner’s equity is recorded by ad debit to Insurance Expense. Decrease in asset is recorded by a
$400 $400
8-16
EXAMPLE
On March 8, the agency paid $600 for a one-year insurance policy.
As each day of the month passed, a part of the expenditure
expired.
8-6
Examples
Suppose that $500 of photocopy supplies
and $300 of office supplies are used up at the end of March.
8-7
Analysis of Example
Assets decreased. Owner’s equity decreased. Decreases in assets are recorded by credits. Decreases in owner’s equity are recorded by debits. Decreases in owner’s equity are recorded by debits to Photocopy Supplies Expense and Office Supplies Expense. Decreases in assets are recorded by credits to Photocopy Supplies and Office Supplies.
会计实用英语
会计实用英语第一篇：会计实用英语account current 往来帐account form of balance sheet 帐户式资产负债表account form of profit and loss statement 帐户式损益表account payable 应付帐款account receivable 应收帐款account of payments 支出表account of receipts 收入表account title 帐户名称，会计科目accounting year 或financial year 会计年度accounts payable ledger 应付款分类帐Accounting period（会计期间）are related to specifictime periods ,typically one year（通常是一年)资产负债表：balance sheet 可以不大写b利润表： income statements(or statements of income)利润分配表：retained earnings现金流量表：cash flowsAccounting system 会计系统American Accounting Association 美国会计协会American Institute of CPAs 美国注册会计师协会Audit 审计Balance sheet 资产负债表Bookkeepking 簿记Cash flow prospects 现金流量预测Certificate in Internal Auditing 内部审计证书Certificate in Management Accounting 管理会计证书Certificate Public Accountant注册会计师Cost accounting 成本会计External users 外部使用者Financial accounting 财务会计Financial Accounting Standards Board 财务会计准则委员会Financial forecast 财务预测Generally accepted accounting principles 公认会计原则General-purpose information 通用目的信息Government Accounting Office 政府会计办公室accountant genaral 会计主任 account balancde 结平的帐户 account bill 帐单account books 帐account classification 帐户分类Income statement 损益表 Institute of Internal Auditors 内部审计师协会Institute of Management Accountants 管理会计师协会Integrity 整合性Internal auditing 内部审计Internal control structure 内部控制结构Internal Revenue Service 国内收入署Internal users 内部使用者Management accounting 管理会计Return of investment 投资回报Return on investment 投资报酬Securities and Exchange Commission 证券交易委员会 Statement of cash flow 现金流量表 Statement of financial position 财务状况表Tax accounting 税务会计Accounting equation 会计等式Articulation 勾稽关系 Assets 资产 Business entity 企业个体 Capital stock 股本 Corporation 公司 Cost principle 成本原则 Creditor 债权人Deflation 通货紧缩Disclosure 批露Expenses 费用Financial statement 财务报表Financial activities 筹资活动Going-concern assumption 持续经营假设 Inflation 通货膨涨 Investing activities 投资活动Liabilities 负债Negative cash flow 负现金流量 Operating activities 经营活动 Owner's equity 所有者权益 Partnership 合伙企业Positive cash flow 正现金流量Retained earning 留存利润Revenue 收入Sole proprietorship 独资企业Solvency 清偿能力Stable-dollar assumption 稳定货币假设 Stockholders 股东Stockholders' equity 股东权益Window dressing 门面粉饰Account 帐第二篇：会计常用英语现金 Cash in hand银行存款 Cash in bank其他货币资金-外埠存款Other monetary assetscashier‘s check其他货币资金-银行汇票 Other monetary assetscredit cards 其他货币资金-信用证保证金Other monetary assetscash for investment短期投资-股票投资 Investmentsstocks短期投资-债券投资 Investmentsbonds短期投资-基金投资 Investmentsfunds短期投资-其他投资 Investmentsothers短期投资跌价准备 Provision for short-term investment长期股权投资-股票投资 Long term equity investmentothers长期债券投资-债券投资 Long term securities investemntothers长期投资减值准备 Provision for long-term investment应收票据 Notes receivable应收股利 Dividends receivable应收利息 Interest receivable应收帐款 Trade debtors坏帐准备-应收帐款 Provision for doubtful debtsother debtors 其他流动资产 Other current assets物资采购 Purchase原材料 Raw materials包装物 Packing materials低值易耗品 Low value consumbles材料成本差异 Material cost difference自制半成品 Self-manufactured goods库存商品 Finished goods商品进销差价Difference between purchase & sales of commodities委托加工物资 Consigned processiong material 委托代销商品 Consignment-out受托代销商品 Consignment-in分期收款发出商品 Goods on instalment sales存货跌价准备 Provision for obsolete stocks待摊费用 Prepaid expenses待处理流动资产损益 Unsettled G/L on current assets待处理固定资产损益 Unsettled G/L on fixed assets委托贷款-本金 Consignment loaninterest委托贷款-减值准备 Consignment loanBuildings固定资产-机器设备Fixed assetsElectronic Equipment, furniture and fixtures固定资产-运输设备Fixed assetsspecific materials工程物资-专用设备 Project materialprepaid for equipment工程物资-为生产准备的工具及器具 Project materialpatent无形资产-非专利技术 Intangible assetstrademark rights无形资产-土地使用权 Intangible assetsgoodwill无形资产减值准备 Impairment of intangible assets长期待摊费用 Deferred assets未确认融资费用 Unrecognized finance fees其他长期资产 Other long term assets递延税款借项 Deferred assets debits应付票据 Notes payable应付帐款 Trade creditors预收帐款 Adanvances from customers代销商品款 Consignment-in payables其他应交款 Other payable to government其他应付款 Other creditors应付股利 Proposed dividends待转资产价值 Donated assets预计负债 Accrued liabilities应付短期债券 Short-term debentures payable其他流动负债 Other current liabilities预提费用 Accrued expenses应付工资 Payroll payable应付福利费 Welfare payable短期借款-抵押借款 Bank loanspledged短期借款-信用借款 Bank loanscredit短期借款-担保借款 Bank loansguaranteed一年内到期长期借款 Long term loans due within one year一年内到期长期应付款 Long term payable due within one year 长期借款 Bank loansPar value应付债券-债券溢价 Bond payableDiscount应付债券-应计利息 Bond payableincome tax应交税金-增值税 Tax payablebusiness tax应交税金-消费税 Tax payableothers递延税款贷项 Deferred taxation credit股本 Share capital已归还投资 Investment returned利润分配-其他转入Profit appropriationstatutory surplus reserve利润分配-提取法定公益金 Profit appropriationreserve fund利润分配-提取企业发展基金Profit appropriationstaff bonus and welfare fund利润分配-利润归还投资Profit appropriationpreference shares dividends利润分配-提取任意盈余公积Profit appropriationordinary shares dividends利润分配-转作股本的普通股股利Profit appropriationshare premium资本公积-接受捐赠非现金资产准备Capital surpluscash donation资本公积-股权投资准备 Capital surplussubsidiary资本公积-外币资本折算差额 Capital surplusothers盈余公积-法定盈余公积金Surplus reserveother surplus reserve盈余公积-法定公益金 Surplus reservereserve fund盈余公积-企业发展基金Surplus reservereture investment by investment主营业务收入 Sales主营业务成本 Cost of sales主营业务税金及附加 Sales tax营业费用 Operating expenses管理费用 General and administrative expenses财务费用 Financial expenses投资收益 Investment income其他业务收入 Other operating income营业外收入 Non-operating income补贴收入 Subsidy income其他业务支出 Other operating expenses营业外支出 Non-operating expenses所得税 Income tax一、资产类 assets现金 cash on hand银行存款 cash in bank其他货币资金 other cash and cash equivalent短期投资 short-term investment短期投资跌价准备short-term investments falling price reserve应收票据 notes receivable应收股利 dividend receivable应收利息 interest receivable应收帐款 accounts receivable坏帐准备 bad debt reserve预付帐款 advance money应收补贴款 cover deficit receivable from state subsidize其他应收款 other notes receivable在途物资 materials in transit原材料 raw materials包装物 wrappage低值易耗品 low-value consumption goods库存商品 finished goods委托加工物资 work in process-outsourced委托代销商品trust to and sell the goods on a commission basis受托代销商品commissioned and sell the goods on a commission basis存货跌价准备 inventory falling price reserve 分期收款发出商品 collect money and send out the goods by stages待摊费用 deferred and prepaid expenses长期股权投资 long-term investment on stocks长期债权投资 long-term investment on bonds长期投资减值准备 long-term investment depreciation reserve 固定资产 fixed assets累计折旧 accumulated depreciation工程物资 project goods and material在建工程 project under construction固定资产清理 fixed assets disposal无形资产 intangible assets开办费 organization/preliminary expenses长期待摊费用 long-term deferred and prepaid expenses待处理财产损溢 wait deal assets loss or income二、负债类 debts短期借款 short-term loan应付票据 notes payable应付帐款 accounts payable预收帐款 advance payment代销商品款 consignor payable应付工资 accrued payroll应付福利费 accrued welfarism应付股利 dividends payable应交税金 tax payable其他应交款 accrued other payments 其他应付款 other payable预提费用 drawing expenses in advance 长期借款 long-term loan应付债券 debenture payable长期应付款 long-term payable递延税款 deferred tax住房周转金 revolving fund of house 三、所有者权益 owners equity股本 paid-up stock资本公积 capital reserve盈余公积 surplus reserve本年利润 current year profit利润分配 profit distribution四、成本类 cost生产成本 cost of manufacture制造费用 manufacturing overhead 五、损益类 profit and loss（p/l）主营业务收入 prime operating revenue 其他业务收入 other operating revenue 折扣与折让 discount and allowance投资收益 investment income补贴收入 subsidize revenue营业外收入 non-operating income主营业务成本 operating cost主营业务税金及附加tax and associate charge其他业务支出other operating expenses存货跌价损失 inventory falling price loss营业费用 operating expenses管理费用 general and administrative expenses财务费用 financial expenses营业外支出 non-operating expenditure所得税 income tax以前损益调整 adjusted p/l for prior year第三篇：会计英语求职信在外企上班用英语的求职信是不是会跟合适点呢?来看看如何写一篇好的英语求职信吧。
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8.3.2 The Accounting Period
▲ businesses need periodic reports on their progress; ▲ accountants slice time into small segments and prepare financial
statements for specific periods; ▲ the most basic accounting period is one year.
Unit 8 The Measurement of
Business Income
1
葛军 吴晓华
高等教育出版社
2
Outline of Unit 8
8.1 Revenues and Expenses 8.2 Business Income 8.3 Some Generally Accepted Accounting Principles 8.4 Adjustment to the Accounts 8.5 Adjusted Trial Balance 8.6 Preparing the Financial Statements from the Adjusted Trial Balance
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7 8.2 Business Income
高等教育出版社
8 8.3 Some Generally Accepted Accounting Principles
8.3.1 Accrual-Basis Accounting
▲ Accrual Basis Accounting In accrual-basis accounting, an accountant recognizes the impact of a business event as it occurs. When the business performs a service, makes a sale or incurs an expense, the accountant enters the transaction into the books, whether or not cash has been received or paid
8.3.3 Revenue Principle
▲ revenue should be recorded as it has been earned but not before ▲ to tell accountants: when to record revenue and the amount of revenue to
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4 8.1 Revenues and பைடு நூலகம்xpenses
Expenses:
▲ Expenses are ‘outflows or other using up of assets or incurrence of liabilities (or a combination of both) during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity’s ongoing major or central operations’. In other words, they are the costs of the goods and services used up in the course of gaining revenue.
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5 8.1 Revenues and Expenses
Expenses:
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6 8.2 Business Income
Definition: ▲ Net income is the net increase in owners' equity resulting from the profit-seeking operations of the company; ▲ Net income equals the difference between revenues and expenses:
高等教育出版社
8.1 Revenues and Expenses
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Revenue:
▲ Revenues are ‘inflows or other enhancements of assets of an entity or settlement of its liabilities (or a combination of both) during a period from delivering or producing goods, rendering services, or other activities that constitute the entity’s major or central operations’.
record;
高等教育出版社
高等教育出版社
9 8.3 Some Generally Accepted Accounting Principles
8.3.1 Accrual-Basis Accounting
高等教育出版社
10 8.3 Some Generally Accepted Accounting Principles