英文版财务会计课件第三章
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财务管理ppt英文课件Chapter 3
Example - Simple Interest
Interest earned at a rate of 6% for five years on a principal balance of $100. Today Interest Earned Value 100 1 6 106 Future Years 2 3
4
5
Copyright 2001 Prentice-Hall, Inc. Fundamentals of Financial Management, 11/e by Van Horne and Wachowicz. Slides prepared by Wu Xiaolan
10
Future Values
Copyright 2001 Prentice-Hall, Inc. Fundamentals of Financial Management, 11/e by Van Horne and Wachowicz. Slides prepared by Wu Xiaolan
9
Future Values
Example - Simple Interest
Interest earned at a rate of 6% for five years on a principal balance of $100. Today Interest Earned Value 100 1 6 106 Future Years 2 3 6 6 112 118
Copyright 2001 Prentice-Hall, Inc. Fundamentals of Financial Management, 11/e by Van Horne and Wachowicz. Slides prepared by Wu Xiaolan
Interest earned at a rate of 6% for five years on a principal balance of $100. Today Interest Earned Value 100 1 6 106 Future Years 2 3
4
5
Copyright 2001 Prentice-Hall, Inc. Fundamentals of Financial Management, 11/e by Van Horne and Wachowicz. Slides prepared by Wu Xiaolan
10
Future Values
Copyright 2001 Prentice-Hall, Inc. Fundamentals of Financial Management, 11/e by Van Horne and Wachowicz. Slides prepared by Wu Xiaolan
9
Future Values
Example - Simple Interest
Interest earned at a rate of 6% for five years on a principal balance of $100. Today Interest Earned Value 100 1 6 106 Future Years 2 3 6 6 112 118
Copyright 2001 Prentice-Hall, Inc. Fundamentals of Financial Management, 11/e by Van Horne and Wachowicz. Slides prepared by Wu Xiaolan
财务会计入门英文版 PPT 3
LO 4: Prepare Adjusting Entries
Two typical adjustments for asset and/or liability overstatements:
– consumed (or used) asset
Asset Unadjusted Credit balance adjusting entry (-) Expense Debit adjusting entry (+)
LO 1: The Accounting Cycle
1. Record accounting events in journal; post to General Ledger. 2. Prepare Trial Balance. 3. Record adjusting journal entries; post to Ledger; prepare Adjusted Trial Balance. 4. Prepare Financial Statements. 5. Record closing journal entries; post to Ledger; prepare Post Closing Trial Balance. 6. Begin the new accounting period by returning to the first step.
Adjustment for asset or liability understatement:
1. Service or goods provided and customer has not yet paid: called a revenue accrual. 2. No payment has been made or liability recorded for benefits consumed: called an expense accrual. 3. Revenue recorded when cash was received, but obligation to customer not yet satisfied. 4. Expense recorded when cash was paid, but future benefits still exist as of the BS date.
会计专业英语教学课件 chapter 3 Assets
• Bank Reconciliation
Bank reconciliation is a schedule explaining any difference between the balance shown in the bank statement and the balance shown in the depositor's accounting records. ➢ Differences between bank statement and accounting
John: Yes, but that's my problem. It doesn't work that way! We always distribute the oldest produce first. Some of that produce is perishable! We can't keep any of it very long or it’ll spoil Mike: John, you don’t understand. We only assume that the products we distribute are the last ones received. We don’t actually have to distribute the goods in this way. John: I always thought that accounting was supposed to show what really happened, it all sounds like “make believe” to me! Why not report what really happens? Identify: (1) What’s wrong with John’s understanding to last-in, first-out inventory procedure? (2) How do you respond to John if you were Mike?
英文版财务会计第三章
Chapter 2
Analyzing Transactions
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
2)An account is simply a record of all the increases and decreases in a financial statement item (such as cash, supplies, and accounts payable).
3)A group of accounts is called a ledger.
© Copyright 2004 South-Western, a division of Thomson Learning. All rights reserved.
Task Force Image Gallery clip art included in this
electronic presentation is used with the permission of
2)For most businesses, this system would be inefficient. For example, in the prior chapter all business transactions affecting owner’s equity were recorded in the capital account. Chapter 2 :in the following accounts: capital, drawing, revenue, and expense accounts.
Analyzing Transactions
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
2)An account is simply a record of all the increases and decreases in a financial statement item (such as cash, supplies, and accounts payable).
3)A group of accounts is called a ledger.
© Copyright 2004 South-Western, a division of Thomson Learning. All rights reserved.
Task Force Image Gallery clip art included in this
electronic presentation is used with the permission of
2)For most businesses, this system would be inefficient. For example, in the prior chapter all business transactions affecting owner’s equity were recorded in the capital account. Chapter 2 :in the following accounts: capital, drawing, revenue, and expense accounts.
财务管理英文Chapter 3PPT课件
amount for both one period and multiple periods. Calculate the present value and future value of multiple
cash flows. Calculate the present value and future value of annuities. Compare nominal interest rates (NIR) and effective
Copyright 2001 Prentice-Hall, Inc.
Compound interest复利 refers to interest earned on
both the initial capital investment and on the interest reinvested from prior period.
“World’s eighth wonder” – the power of compounding.
If you're in your 30s, you've probably started a family ... You're scraping enough together to buy your first home and make the mortgage payments.
Now in your 40s, you may be facing demands on your earnings ... You need a larger home ... The kids are taking dance and piano lessons ... they need braces ... You may have some financial responsibility for rentice-Hall, Inc.
cash flows. Calculate the present value and future value of annuities. Compare nominal interest rates (NIR) and effective
Copyright 2001 Prentice-Hall, Inc.
Compound interest复利 refers to interest earned on
both the initial capital investment and on the interest reinvested from prior period.
“World’s eighth wonder” – the power of compounding.
If you're in your 30s, you've probably started a family ... You're scraping enough together to buy your first home and make the mortgage payments.
Now in your 40s, you may be facing demands on your earnings ... You need a larger home ... The kids are taking dance and piano lessons ... they need braces ... You may have some financial responsibility for rentice-Hall, Inc.
大学课程《会计英语》PPT课件：Chapter 1 Unit 3
Matching
Description: Matching refers to the timing of recognition of revenues and expenses in the income statement. Under this concept, all expenses incurred in earning revenue should be recognized in the same period the revenue is recognized.
useful in accounting. Distinguish between capital expenditures and revenue
expenditures. State how materiality is related to the distinction
between capital and revenue expenditures. Explain the significance of reporting the economic
Differentiate Capital and Revenue Expenditures
Capital expenditures are expenditures expected to yield benefits beyond the current accounting period, that is, have future cash flows, and thus should be added to the plant and equipment or capital asset account.
substance of transactions, not just their form.
英文版中级财务会计第3章PPT
Periodic Inventory System
Beginning inventory + Purchases (net)-Ending Inventory = cost of goods sold
example
Periodic System
Apr. 1 Apr. 10 Apr. 20
100 units 80 units 70 units 250 units
Balance Sheet ($ in millions) 2009 2008 Current assets: Inventories Finished goods $ 660 $ 775 Work in process 38 43 Materials and supplies 330 402 Total $1,028 $1,220
Alternative inventory systems
A company using a perpetual system maintains a continuous record of the physical quantities in its inventory.
Comparison of system
Classification of inventory in different types of company
Merchandising company Merchandise inventory
Manufacturing company Raw materials inventory Work in process Finished goods inventory
2011 Inventory Accounts payable
财务管理英语chapter3
2) The non-operating section (非营运部分) of the income statement includes all financing costs, such as interest expense.
3) Usually a separate section reports the amount of taxes levied on income.
则(GAPP)).
Annual Report (年报):
年报中包括2种信息
公司总经理的公开信(letter to stockholders) 4种基本的财务报表(financial statements)
1-7
Balance sheet Income statement Statement of cash flows Statement of retained earnings
to determine incentives and rewards to allocate capital investment in firm’s segment or divisions
1-5
Anyway ,financial statements are probably the most important source of information,because various stakeholders can assess a firm’s financial health. Whereas,it is not easy to assess a firm’s real financial status
1-10
Debt versus Equity •Creditors generally receive the first claim on the firm’s cash flow. •Shareholder’s equity is the residual difference between assets and liabilities.
3) Usually a separate section reports the amount of taxes levied on income.
则(GAPP)).
Annual Report (年报):
年报中包括2种信息
公司总经理的公开信(letter to stockholders) 4种基本的财务报表(financial statements)
1-7
Balance sheet Income statement Statement of cash flows Statement of retained earnings
to determine incentives and rewards to allocate capital investment in firm’s segment or divisions
1-5
Anyway ,financial statements are probably the most important source of information,because various stakeholders can assess a firm’s financial health. Whereas,it is not easy to assess a firm’s real financial status
1-10
Debt versus Equity •Creditors generally receive the first claim on the firm’s cash flow. •Shareholder’s equity is the residual difference between assets and liabilities.
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C2 - 15
To assist you in learning, an account can be drawn to resemble the letter T.
C2 - 16
The T-Account
Cash
The T-account has a title.
C2 - 17
The T-Account
C2 - 19
The T-Account
Cash
3,750 4,300 2,900 850 1,400 700 2,900
Typical entries
C2 - 20
Balancing a T-Account
C2 - 21
First, foot the debit side.
Cash
3,750 4,300 2,900 10,950 850 1,400 700 2,900
Chapter 2
Analyzing Transactions
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
C2 - 2
Objectives
1. Explain why accounts are used After studying this to record and summarize chapter, the effects of transactions on you should financial statements. be able to: 2. Describe the characteristics of an account. 3. List the rules of debit and credit and the normal balances of accounts. 4. Analyze and summarize the financial statement effects of transactions.
C2 - 13
Assets =Liabilitie + Owner's Equity • ----------- = --------+ ----------• + _ _ + _ + •
C2 - 14
OBJECTIVE 2 — the characteristics of an account.
C2 - 4
Objective 1:Usefulness of an Account
1)Accounts are used to record business transactions. 2)An account is simply a record of all the increases and decreases in a financial statement item (such as cash, supplies, and accounts payable). 3)A group of accounts is called a ledger.
C2 - 3
Objectives
5. Prepare a trial balance and explain how it can be used to discover errors. 6. Discover errors in recording transactions and correct them. 7. Use horizontal analysis to compare financial statements from different periods.
C2 - 10
Major Account Classifications
Assets are resources owned by the business. Cash Supplies Building Accounts receivable Liabilities are debts owed to outsiders (creditors). Accounts payable Notes payable Wages payable
Cash
Left side debit
The left side of the account is the debit side.
C2 - 18
The T-Account
Cash
Left side debit Right side credit
The right side of the account is the credit side.
© Copyright 2004 South-Western, a division of Thomson Learning. All rights reserved. Task Force Image Gallery clip art included in this electronic presentation is used with the permission of NVTech Inc.
C2 - 22
Cash
3,750 4,300 Next, foot the 2,900 credit side. 10,950 850 1,400 700 2,900 5,850
C2 - 23
5,100
4,300 2,900 10,950
Subtract total credits Cash from total debits to obtain the account 3,750 850 balance.
Major Account Classifications
C2 - 12
Major Account Classifications
Owner’s equity is the owner’s right to the assets of the business. Chris Clark, Capital Chris Clark, Drawing Revenues are increases in owner’s equity as a result of selling services or products. Fees Earned Fares Earned Commission Revenue Expenses are the using up of assets or consuming of services to generate revenue. Rent Expense Salary Expense Utilities Expense
C2 - 11
Liabilities are often identified sheetare by debts titles Assets are on the balance Liabilities . resources owned that include owed payable to outsiders by the business. (creditors). Cash Supplies Building Accounts receivable Accounts payable Notes payable Wages payable
C2 - 1
Some of the action has been automated, so click the mouse when you see this lightning bolt in the lower right-hand corner of the screen. You can point and click anywhere on the screen.
C2 - 7
A list of the accounts in a ledger is called a chart of accounts.
C2 - 8
1)Only a very small enterprise with very few transactions (such as a Internet Bar run by students) could use the accounting system illustrated in Chapter 1. Example:shop of school 2)For most businesses, this system would be inefficient. For example, in the prior chapter all business transactions affecting owner’s equity were recorded in the capital account. Chapter 2 :in the following accounts: capital, drawing, revenue, and expense accounts.
C2 - 9
• Under the text’s indexing system, accounts are assigned a two-digit number. The first digit indicates the account’s classification (1=assets, 2=liabilities, 3=owner’s equity, 4=revenue, and 5=expenses.)
• • • • • • • • • Dr. ___________cash________________Cr. 3,750 850 4,300 1,400 2,900 700 -------------------2,900 10,950 1,000 (total debits) ------------6,850(total credits) 10950-6850=4100(balance of account)
To assist you in learning, an account can be drawn to resemble the letter T.
C2 - 16
The T-Account
Cash
The T-account has a title.
C2 - 17
The T-Account
C2 - 19
The T-Account
Cash
3,750 4,300 2,900 850 1,400 700 2,900
Typical entries
C2 - 20
Balancing a T-Account
C2 - 21
First, foot the debit side.
Cash
3,750 4,300 2,900 10,950 850 1,400 700 2,900
Chapter 2
Analyzing Transactions
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University
C2 - 2
Objectives
1. Explain why accounts are used After studying this to record and summarize chapter, the effects of transactions on you should financial statements. be able to: 2. Describe the characteristics of an account. 3. List the rules of debit and credit and the normal balances of accounts. 4. Analyze and summarize the financial statement effects of transactions.
C2 - 13
Assets =Liabilitie + Owner's Equity • ----------- = --------+ ----------• + _ _ + _ + •
C2 - 14
OBJECTIVE 2 — the characteristics of an account.
C2 - 4
Objective 1:Usefulness of an Account
1)Accounts are used to record business transactions. 2)An account is simply a record of all the increases and decreases in a financial statement item (such as cash, supplies, and accounts payable). 3)A group of accounts is called a ledger.
C2 - 3
Objectives
5. Prepare a trial balance and explain how it can be used to discover errors. 6. Discover errors in recording transactions and correct them. 7. Use horizontal analysis to compare financial statements from different periods.
C2 - 10
Major Account Classifications
Assets are resources owned by the business. Cash Supplies Building Accounts receivable Liabilities are debts owed to outsiders (creditors). Accounts payable Notes payable Wages payable
Cash
Left side debit
The left side of the account is the debit side.
C2 - 18
The T-Account
Cash
Left side debit Right side credit
The right side of the account is the credit side.
© Copyright 2004 South-Western, a division of Thomson Learning. All rights reserved. Task Force Image Gallery clip art included in this electronic presentation is used with the permission of NVTech Inc.
C2 - 22
Cash
3,750 4,300 Next, foot the 2,900 credit side. 10,950 850 1,400 700 2,900 5,850
C2 - 23
5,100
4,300 2,900 10,950
Subtract total credits Cash from total debits to obtain the account 3,750 850 balance.
Major Account Classifications
C2 - 12
Major Account Classifications
Owner’s equity is the owner’s right to the assets of the business. Chris Clark, Capital Chris Clark, Drawing Revenues are increases in owner’s equity as a result of selling services or products. Fees Earned Fares Earned Commission Revenue Expenses are the using up of assets or consuming of services to generate revenue. Rent Expense Salary Expense Utilities Expense
C2 - 11
Liabilities are often identified sheetare by debts titles Assets are on the balance Liabilities . resources owned that include owed payable to outsiders by the business. (creditors). Cash Supplies Building Accounts receivable Accounts payable Notes payable Wages payable
C2 - 1
Some of the action has been automated, so click the mouse when you see this lightning bolt in the lower right-hand corner of the screen. You can point and click anywhere on the screen.
C2 - 7
A list of the accounts in a ledger is called a chart of accounts.
C2 - 8
1)Only a very small enterprise with very few transactions (such as a Internet Bar run by students) could use the accounting system illustrated in Chapter 1. Example:shop of school 2)For most businesses, this system would be inefficient. For example, in the prior chapter all business transactions affecting owner’s equity were recorded in the capital account. Chapter 2 :in the following accounts: capital, drawing, revenue, and expense accounts.
C2 - 9
• Under the text’s indexing system, accounts are assigned a two-digit number. The first digit indicates the account’s classification (1=assets, 2=liabilities, 3=owner’s equity, 4=revenue, and 5=expenses.)
• • • • • • • • • Dr. ___________cash________________Cr. 3,750 850 4,300 1,400 2,900 700 -------------------2,900 10,950 1,000 (total debits) ------------6,850(total credits) 10950-6850=4100(balance of account)