《会计专业英语》PPT课件

EnglishinAccountingProfessionSeptember,2009会计PartⅠFinancialAccounting会计pptChapter1.FinancialAccountingConceptualFramework会计pptWhatisAccounting?Accountingistheartofinterpreting,measuringandcommunicatingtheresultsofeconomicactivities.Accountinghasoftenbeencalledthelanguageofbusiness.Theuseofaccountinginformationisnotlimitedtothebusinessworld.会计pptChapterSkeletonLearningObjectives:Defineaccounting,financialaccounting,andfinancialstatement.Describeandprepareabalancesheet;defineassets,liabilities,andowners’equity.Explaintheaccountingbasesandassumptions.Describetheaccountingprinciplesandmeasurementbasesandqualitativecharacteristicsoffinancialaccountinginformation.会计ppt1.1ThepurposeofAccountingandFinancialReportingAccountingmaybedescribedastheprocessofidentifying,measuring,recording,andcommunicatingeconomicinformationtopermitinformedjudgmentsanddecisionsbyusersofthatinformation.TheoriginsofaccountingaregenerallyattributedtotheworkofLucaPacioli,anItalianRenaissancemathematician.会计pptTherearemanytypesofaccountinginformation:FinancialAccountingManagerialAccountingTaxAccounting会计pptFinancialAccountingreferstoinformationdescribingthefinancialresources,obligations,andactivitiesofaneconomicentity(eitheranorganizationoranindividual).FinancialAccountinginformationisdesignedprimarilytoassistinvestorsandcreditorsindecidingwheretoplacetheirscarceinvestmentresources.Abusinessisanorganzationinwhichbasicresources(inputs).Theobjectiveofmostbusinessistomaximizeprofits.会计pptWhatistheroleoffinancialaccountinginbusiness?Thesimplestansweristhatfinancialaccountingprovidesinformationformanagerstouseinoperatingthebusiness.Inaddition,financialaccountingprovidesinformationtootherstakeholderstouseinassessingtheeconomicperformanceandtheconditionofthebusiness.会计pptIdentifystakeholders(Internal:Owners,managers,employees,etc.External:Customers,creditors,government,etc.)Assessstakeholders’informationalneeds.Designtheaccountinginformationsystemtomeetstakeholders’needsPrepareaccountingreportsforstakeholders.RecordeconomicdataaboutbusinessactivitiesandeventsIllustration1-1.FinancialAccountingInformationandtheStakeholdersofaBusiness会计pptFinancialReporting:supplyinggeneral-purposefinancialinformationaboutabusinesstopeopleoutsidetheorganization.FinancialStatement:theprincipalmeansofreportinggeneral-purposefinancialinformationtothepersonsoutsideabusinessorganizationisasetofaccountingreports.TheusersoftheFinancialStatement:thepersonsreceivingthesereports.会计pptAcompletesetoffinancialstatementsincludes:Abalancesheet,showingataparticularpointoftime(aspecificdate)thefinancialpositionofthecompanybyindicatingtheresourcesthatitowns,thedebtsthatitowes,andtheamountoftheowners’equity(investment)inthebusiness.Anincomestatement,includingtheprofitabilityofthebusinessovertheprecedingyears(oraparticulartimeperiod).Astatementofcashflows,summarizingthecashreceiptsandcashpaymentsofthebusinessoverthesametimeperiodcoveredbytheincomestatements.会计pptThestatementofcashflowreports①thecasheffectsofacompany’sperationsduringaperiod②itsinvestingtransactions③itsfinancingtransactions④thenetincreaseordecreaseincashduringtheperiod⑤thecashamountattheendoftheperiod会计pptInaddition,acompletesetoffinancialstatementsusuallyincludesseveralpagesofnotes,containingadditionalinformationwhichaccountantsbelieveisusefulintheinterpretationofthefinancialstatements.Thebasicpurposeoffinancialstatementsistoassistusersinevaluatingthefinancialposition,profitability,andfutureprospectsofabusiness.TheinformationcommunicatedtotheexternalusersinfinancialreportingisbasedonstandardsthatestablishCAS(ChineseAccountingStandards).会计pptObjectivesofFinancialreportingTheobjectivesaretoprovideinformationthat:Isusefultothosemakinginvestmentandcreditdecisions;IshelpfulinassessingfuturecashflowsIndentifiestheeconomicresources(assets),theclaimstothoseresources(liabilities),andthechangesinthoseresourcesandclaims.会计ppt1.2AccountingbasisandAccountingAssumptionsTwotypesofaccountingbasisCash-basisaccountingAccrual-basisaccounting会计pptCashBasisIsthemethodofbookkeepingthatrecordsfinancialeventsbasedoncashflowandcashposition.Revenueisrecognizedwhencashisreceivedandexpenseisrecognizedwhencashispaid.Twotypesofcash-basisaccountingexist:Strictcash-basismodifiedcash-basis会计pptAccrual-BasisRecordsfinancialeventsbasedoneconomicactivityratherthanfinancialactivity.Revenueisrecordedwhenitisearnedandrealized,regardlessofwhenactualpaymentisreceived.Expensesare“matched”revenueregardlessofwhentheyareactuallypaid.AccrualaccountingisrequiredbyCASandotherfinancialaccountingstandardslikeGAAP,IFRS,etc.会计pptComparisonAsimpleExampleOtherconsiderations会计pptAccountingAssumptionsCAStreatsthefollowingasthefundamentalaccountingassumptions:EntityContinuityPeriodofTimeMonetaryUnit会计ppt1.3FinancialAccountingPrinciplesandMeasurementBases会计pptFinancialaccountingprinciplesCostPrincipleRevenueRecognitionPrincipleMatchingPrincipleFulldisclosurePrinciple会计pptCostPrincipleThecostprinciplestatesthatassetsshouldberecordedattheircost.Costisthevaluesexchangedatthetimesomethingisacquired.Costisreliable.Thevaluesexchangedatthetimesomethingisacquiredgenerallycanbeobjectivelymeasuredandcanbeverified.会计pptRevenuesRecognitionPrincipleTherevenuerecognitionprincipledictatesthatrevenueberecognizedintheaccountingperiodinwhichitisearned.Accountantsfollowtheapproachof“letexpensesfollowrevenue”.Thenatureofexpenses:costsarethesourceofexpenses.Coststhatwillgeneraterevenuesoblyinthecurrentaccountingperiodareexpensedimmediately.会计pptUnexpiredcostsbecomeexpensesintwoways1.Costofgoodssoled.2.Operatingexpenses.RevenuesRecognitionPrinciple会计pptCostIncurredAssetExpensesProvidesfuturebenefitsProvidesnoapparentfutureProvidesfuturebenefitsUnexpiredExpiredCostCostBenefitsDecreaseIllustration1-2.ExpenseRecognition会计pptMatchingPrincipleOncetheeconomiclifeofabusinesshasbeendividedintoartificialtimeperiods,therevenuesrecognitionandmatchingprinciplescanbeapplied.Thisoneassumptionandtwoprinciplesthusprovideguidelinesastowhenrevenuesandexpensesshouldbereported.会计pptTimePeriodAssumptionTheeconomiclifeofanybusinesscanbedividedintoartificialtimeperiodsRevenueRecognitionPrincipleMatchingPrincipleRevenuerecognizedintheaccountingperiodinwhichitisearned.Expensesmatchedwithrevenuesintheperiodwheneffortsareexpensed.会计pptFulldisclosurePrincipleThisprinciplerequiresthatcircumstancesandeventsthatmakeadifferencetofinancialstatementusersbedisclosed.会计pptFinancialAccountingMeasurementbasesMarketValue(FairValue)HistoricalCostNetRealizableValueCurrentValue(PresentValue)会计pptMarketValueMarketvalueistheestimatedamountforwhichapropertyshouldexchangeonthedateofvaluationbetweenawillingbuyerandawillingsellerinanarm’s–lengthtransactionafterpropermarketingwhereinthepartieshadeachactedknowledgeably,prudently,andwithoutcompulsion.会计pptHistoricalCostTheeconomicactivitiesandresourcedofacompanyinitiallyaremeasuredbytheexchangepriceofattransactionatthetimethetransactionoccurs.Usuallytheexchangeprice(thehistoricalcost)isretainedintheaccountingrecordsasthevalueofanitemuntiltheitemisconsumed,sold,orliquidatedandremovedfromtherecords.会计pptNetRealizableValueAmethodofdeterminingthepresentvalueofatroubledassettoitspresentownermaybebasedontheassumptionthattheassetwillbeheldforaperiodoftimeandsoldatsomefuturedate.Withregardstoinventory,netrealizablevalue(NRV)istheestimatedsellingpricesellingpriceintheordinarycourseofbusinessminusanycosttocompleteandtosellthegoods.Netrealizablevalueisalsoassociatedwithaccountsreceivable.会计pptCurrentValue(PresentValue)Isthevalueonagivendateofafuturepaymentorseriesoffuturepayments,discountedtoreflectthetimevalueofmoneyandotherfactorssuchasinvestmentrisk.会计ppt1.4QualitativeCharacteristicsofAccountingInformation会计pptPervasiveConstraintUser-SpecificQualityOverallqualityPrimaryDecision-SpecificQualitiesIngredientsofPrimaryQualitiesSecondaryandInteractiveQualityThresholdforRecognitionAdditionalConsiderationIllustration1-4HierarchyofQualitativeCharacteristicsofAccountingInformationAccountingInformationBenefits>CostsPVFVTVRFNComparability(IncludingConsistenc)MaterialityUnderstandabilityDecisionUsefulnessRelevanceReliabilityConservatism会计pptIllustration1-4presentsahierarchyofthequalititativecharacteristicsofaccountinginformation.Thissectionpresentsanoverviewofthehierarchy,afterwhichwedefineanddiscussthecomponentsindetail.Thehierarchyisboundedbythreeconstraints.Tobeuseful,accountinginformationmusthaveeachofthequalitativecharacteristics,atleasttoaminimumdegree.会计pptUnderstandabilityAccountinginformationshouldbeunderstandabletouserswhohaveareasonableknowledgeofbusinessandeconomicactivitiesandwhoarewillingtostudytheinformationwhichreasonablediligence.会计pptDecisionUsefulnessIstheoverallqualitativecharacteristictobeusedinjudgingthequalityofaccountinginformation.会计pptRelevanceAccountinginformationisrelevantifitcanmakeadifferenceinadecisionbyhelpinguserspredicttheoutcomesofpast,present,andfutureeventsorconfirmorcorrectpriorexpectations.Toberelevant,accountinginformationshouldhaveeitherpredictiveorfeedbackvalue,orboth.Inaddition,itshouldbetimely.会计pptReliabilityAccountinginformationismostusefulwhenitisreliableaswellasrelevant.Reliableinformationisreasonablyfreefromerrorandbias,andfaithfullyrepresentswhatisintededtorepresent.Accountinginformationisverifiablewhenmeasurerscanformaconsensusthattheselectedmethodhasbeenusedwithouterrororbias.会计pptReliabilityAccountinginformationhasrepresentationalfaithfulnesswhenthereisarelationshipbetweenthereportedaccountingmeasurementsordescriptionsandtheeconomicresources,theobligationsandthetransactionsandeventscausingchangesintheseitems.会计pptComparabilityandConsistencyAsecondaryqualitativecharacteristicofaccountinginformationiscomparability,andincludingconsistency.Comparabilityisnotconsideredaprimaryqualityofusefulinformation,likerelevanceandreliability,becauseitmustevolvemorethanoneitemofinformationandistheinteractivequalityoftherelationshipbetweentwoormoreitemsofinformation.会计pptConsistencymeansconformityfromperiodtoperiod,withaccountingpoliciesandproceduresremainingunchanged.ComparabilityandConsistency会计pptConstraintstotheHierarchyBenefit/CostConstraintMaterialityConstraintConservatism会计ppt