会计英语1-10课(英文版)

会计英语1－10课 Text 1 Accounting and Its Environment Develop an accounting vocabulary for decision making. Accounting is a system for measuring, processing, and communicating financial information. As the “language of business,” accounting helps a wide range of decision makers. Accounting dates backs to ancient civilizations, but its importance to society has been greatest since the Industrial revolution.

Apply accounting concepts and principles to analyze business transactions. The three basic forms of business organization are the proprietorship, the partnership, and the corporation. Whatever the form, accountants use the entity concept to keep the business’s records separate from the personal records of the people who run it. Accountants at all levels must be ethical to serve their intended purpose. Generally accepted accounting principles (GAAP) guide accountants in their work. Among these guidelines are the entity concept, the reliability principle, the cost principle, the going-concern concept, and the stablemonetary-unit concept.

Use the accounting equation to describe an organization’s financial position. In its most common form, the accounting equation is Assets=Liabilities + Owner’s Equity.

Use the accounting equation to analyze business transactions. Transactions affects a business’s assets, liabilities, and owner’s equity. Therefore, transactions are analyzed in terms of their effect on the accounting equation.

Prepare the financial statements. The financial statements communicate information for decision making by the entity’s managers, owners, and creditors and by government agencies. The income statement presents a video of the entity’s operations in terms of revenues earned and expenses incurred during a specific period. Total revenues minus total expenses equal net income. Net income or net loss answers the question, How much income did the entity earn, or How much loss did it incur during the period? The statement of owner’s equity reports the changes in owner’s equity during the period. The balance sheet provides a photograph of the entity’s financial standing in terms of its assets, liabilities, and owner’s equity at a specific time. It answers the question, What is the entity’s financial position? The statement of cash flows reports the cash coming in and the cash going out during the period. It answers, Where did cash come from , and, Where did it go?

Evaluate the performance of a business. High net income indicates success in business; net loss indicates a bad year.

New words accounting 会计学，结算 measure 估量，衡量，计算 process 初步分类，整理 apply to 把···应用于 transaction 交易 principle 原理 proprietorship 独资企业，所有权 partnership 合伙关系，合伙企业 corporation 公司，企业 entity 实体，统一的，权益 ethical 合乎道德的 intended 预期的 GAAP 普通会计原理 guideline 方针，指南 entity concept 主体概念 reliability principal 可信性原则 cost principal 成本原则 going-concern concept 持续经营概念 stable-money-unit concept 稳定货币单位的概念 equation 等式 owner’s equity 投资者权益 financial statement 财政报表 agency 机构 income statement 损益报表 video 说明 revenues 总收入 incurrent 遭受 minus 减去 balance sheet 资产负债表，决算表 indicate 表明，暗示 expenses 开支，消费Text 2 Recording Business Transaction Define key accounting terms: account, ledger, debit, and credit. The account can be viewed in the form of the letter “T”. The left side of each T-account is its debit side. The right side is its credit side. The ledger, which contains a record for each account, groups and numbers accounts by category in the following order: assets, liabilities, and owner’s equity (and its subparts, revenues and expenses).

Apply the rules of debit and credit. Assets and expenses are increased revenues are increased by credits. Liabilities, owner’s equity, and revenues are increased by credits and decreased by debits. The side—debit or credit—of the account in which increases are recorded is that account’s normal balance. Thus the normal balance of assets and expenses is a debit, and the normal balance of liabilities, owner’s equity, and revenues is a credit. The Withdrawals account, which decreases owner’s equity, normal has a debit balance. Revenues, which are increases in owner’s equity, have a normal credit balance. Expenses, which are decreases in owner’s equity, have a normal debit balance.

Record transactions in the journal. The accountant begins the recording process by entering the transaction’s information in the journal, a chronological list of all the business’s transactions.