基础会计英语chapter 5 Accounting Practice and Illustration
更新时间:2022-09-30 05:11:46 阅读： 评论：0
Chapter5 AccountingPracticeandIllustration
Objectives
1.Tolearntomakebasicentriesofaccountingpractice;
2.Tocommandthecalculationoffinancialresults.
Brainstorming
TrytospeaktheaccountingtermsinEnglish
销售收入
在产品
营业利润
销货成本
所得税费用
财务成果
产成品
利润分配
Discussandanswerthefollowingquestions
1)Inabusiness,whatkindsofthreeprocessareincludedintheoperating?
2)Whatismanufacturingcost,andhowtocalculateit?
3)Whatdoesfinancialresultsmean,andhowtounderstanditstype?
Introduction
Inabusiness,theoperatingprocesscanbemadeupofthesupplyprocess,theproductionprocessandthesalesprocess,butfundingisaprerequisiteofitsproductionandoperatingactivities.Whenabusinessistup,theownermustprepareenoughfundsforitsnormaloperation.
Inordertocalculateandsupervithefunds’circulation,accountingpersonnelshallneedtoanalyzethecostofpurchasinggoods,thecostforproducinggoodsandthecostofllinggoods.Soit’snecessaryforthemtomastercostcalculationmethods.Atthesametime,theyshallunderstandandmasterwhatconstitutestheoperatingprofit,totalprofitandnetprofit,howtheitemsareformed,andhowprofitscanbeallocatedaccordingtorelevantpoliciesorregulations.
5.1AccountingforFinancing
Abusinessisalwaysfundedbyitsowner’sinvestmentandborrowingmoneyfrombanksorothercreditors.
Financing
EquityFinancing
DebtFinancing
IncreaAsts
IncreaEquity
IncreaAsts
IncreaLiabilities
5.1AccountingforFinancing
Theowner’quityreprentshis(orher)claimsontheastsofabusiness.Oneoftheprimarysourcestoincreatheowner’quityishis(orher)owninvestment.
Theinvestmentwillbecashorotherastsinvestedinthebusiness.
EquityFinancing
5.1AccountingforEquityFinancing
January1,2015
Dr.CashinBank$10000
IntangibleAsts—patentx32000
FixAsts---equipmentY50000
Cr.Paid-inCapital$92000
Forexample,onJanuary1,2015,ZhonghuaiCompanywastablished,andtheownersinvested$10000incash,$32000intheformofpatentX,and$50000intheformofequipmentY(assumeVATisnotconsidered).
Inthisca,theowner’sastsandequitybothincreadby$92000atthesametime.Sointheentry,cash,patentandequipmentshouldbedebitedastheastsaccount,andpaid-incapitalaccountshouldbecredited.
5.1AccountingforDebtFinancing
Liabilityordebtreprentsthecreditor’sclaimsontheastsofabusiness.Besidequityfinancing,it’sanothermajorsourceforabusinesstoprovidemoney.Abankloanisthetypicalkindofanindustry’sliability.
Forexample,onJanuary1,2016,ZhonghuaiCompanymanagedtoborrow$12000fromthebankwiththeannualinterestrateof10%.Thetermwasoneyear,andtheinterestshouldbesavedmonthlyattheendofeachmonth.Theyagreedthattheprincipalwithitsinterestshouldbepaidbackassoonasthetermwasover.
DebtFinancing
