会计专业英语名词解释
Chapter 1
1. Accounting: Accounting is the process of identifying, measuring, recording, and
communicating economic information to permit informed judgments and decisions by urs of the information.
2. Accrual basis accounting: Accrual basis accounting refers to an accounting method
that records financial events bad on economic activity rather than financial activity.
Under accrual accounting, revenue is recorded when it is earned and realized, regardless of when actual payment is received. Similarly, expens are matched with revenue regardless of when they are actually paid.
3. Balance sheet: Balance sheet is the financial statement showing the financial position
of an entity by summarizing its asts, liabilities, and owner’s equity at one sp ecific date.
4. Business entity: Business entity refers to an economic unit that controls resources,
incurs obligations, and engages in business activities.
5. CAS: Chine Accounting Standards refer to the accounting concepts, measurement
techniques, and standards of prentation ud in financial statements made by the PRC Financial Apartment.
6. Cash basis accounting: Cash basis accounting is a method of bookkeeping that
records financial events bad on cash flows and cash position. Revenue is recognized when cash is received and expen is recognized when cash is paid out.
7. Conrvatism: Conrvatism states that when alternative accounting valuations are
equally possible, the accountant should lect the one that is least likely to overstate asts and income in the current period.
8. Consistency: Consistency means that a company us the same accounting
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principles and methods from year to year.
9. Continuity: Continuity refers to an accounting assumption, also known as the
going-concern assumption, that the company will continue to operate in the near future, unless substantial evidence to the contrary exists.
10. Corporation: Corporation is a business organized as a parate legal entity under
state corporation law and having ownership divided into transferable shares of stock.
11. Cost principle: Cost principle is a widely ud principle of accounting for asts at their
original cost to the current owner.
12. Financial accounting: Financial accounting refers to the development and u of
accounting information describing the financial position of an entity and the results of its operations.
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13. Financial position: Financial position refers to the financial resources and obligations
of an organization, as described in a balance sheet.
14. Financial reporting: Financial reporting refers to the process of periodically providing
“general-purpo”financial information (such as financial statements) to persons outside the business organization.
15. Financial statements: Financial statements refer to the four related accounting reports
the summarize the current financial position of an entity and the results of its operations for the preceding year ( or other time period).
16. Full disclosure principle: Full disclosure principle requires that circumstances and
events that make a difference to financial statement urs be disclod.
17. Going-concern assumption: Go-concern assumption is an assumption by accountants
that a business will operate indefinitely unless specific evidence to the contrary, such as impending bankruptcy, exists.
18. Historical cost: The historical cost of an ast is the exchange price in the transaction
in which the ast was acquired.
19. Matching principle: Matching principle is an accounting principle that dictates that
expens be matched with revenue in the period in which efforts are made to generate revenue.
20. Materiality: Materiality refers to the magnitude of an omission or misstatement of
accounting information that, considering the circumstances, makes it likely that the judgment of a reasonable person relying on the information would have been influenced by the omission or misstatement.
21. Market value: Market value is the estimated amount for which a property should
exchange on the date of valuation between a willing buyer and a willing ller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently, and without compulsion,
22. Net realizable value: The net realizable value of an ast is the amount of cash (or the
equivalent) that could be obtained on the date of the balance sheet by lling the ast in its prent condition, in an orderly liquidation.
23. Income statement: Income statement is a financial statement indicating the
profitability of a business over a preceding time period.
24. Partnership: Partnership is a business owned by two or more persons associated as
partners.
25. Prent value: The prent value of an ast is the net amount of discounted future
cash inflows less the discounted future cash outflows relating to the ast.
26. Proprietorship: Partnership is a business owned by one person.
27. Relevance: Accounting information is relevant if it can make a difference in a decision
by helping urs predict the outcomes of past, prent, and future events or confirm or correct prior expectations. To be relevant, accounting information should have either predictive or feedback value,
or both. In addition, it should be timely,
28. Reliability: Reliable information is reasonably free from error and bias, and faithfully
reprents what it is intended to reprent. That is, to be reliable, information should be verifiable, neutral, and posss reprentational faithfulness,
29. Revenue recognition principle: An accounting principle that dictates that revenue be
recognized in the accounting period in which it is earned.
30. Statement of cash flow: A financial statement summarizing the cash receipts and cash
payments of the business over the same time period covered by the income statement.
31. Statement of owner’s equity: A financial statement explaining certain changes in the
amount of the owner’s equity (investment) in the business.
1. Ast: Asts mean the entire property of a person, association, corporation, or estate
applicable or subject to the payment of debts.
2. Operating cycle: The operating cycle is the time span from when cash is ud to
acquire goods and rvice and until cash is received from the sale of goods and rvice.
3. Cash: cash refers to an exchange medium launched into circulation which is available
for any ordinary u and can be ud to purcha goods or rvices or repay debts.
4. Cash equivalents: Cash equivalents are short-term, highly liquid investments or other
asts that readily convertible to cash and sufficiently clo to their due date.
5. Internal control: Internal control means all policies and procedures ud to protect
asts, ensure reliable accounting, promote efficient operations, and urge adherence to company policies.
Chapter 3
1. Receivables: Receivables refer to the monetary claims against business, individuals
and other debtors.
2. Accounts receivable: Accounts receivables are amounts due from customers for credit
sales. This ction begins by describing how accounts receivables occur. It includes receivables that occur when customers u credit cards issued by third parties and when a company gives credit directly to customers.
3. Installment accounts receivables: Installment accounts receivables are amounts over
an extended time period.
4. Commercial discounts: Commercial discounts refer to a certain sum of money
deducted from listed prices.
5. Cash discounts: Cash discounts refer to a deduction from gross invoice price, which
are an inducement offered to the buyer to encourage the payments of goods within a specific period of time.金价上涨的原因
6. The percentage-of-sale method: The percentage-of-sale method estimates some
percentage of credit sales would turn out to be uncollectible, in which the percentage of bad debts to credit sales should be properly estimated with the past experience. 7. The percentage-of-receivable method: The percentage-of-receivable method
estimates the uncollectible with a percentage of the ending balance of accounts receivables rather than credit sales.
8. The aging method: The aging method analyzes the age structure of the account
balance. In this method, an aging schedule is prepared, classifying the length of time that has pass since the sale that gave ri to them.
9. The allowance method: The allowance method is the most usual way that companies
u to record uncollectible accounts. In calculating uncollectible accounts, an account allowances for uncollectible receivable is t up.
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10. Promissory note: A promissory note is a written promi to pay a certain sum of编织篮子
money on demand or at a fixed and determinable future time, generally over 30 or 60 days.
1. Inventory: Inventory is the total amount if goods and/or materials contained in a store
or factory at any given.
2. Product costs: Product costs are tho costs that “attach”to the inventory. Such
charges include freight charges on goods purchad, other direct costs of acquisition, and labor and other production costs incurred in processing the goods up to the time of sale.
3. The perpetual inventory system: The perpetual inventory system requires that
parate inventory ledger be maintained for each goods.
4. The periodic inventory system: The periodic inventory system requires a company
determines the quantity of inventory on hand only periodically, under which the cost of ending inventory is subtracted from the cost of goods available for sale, then the cost of goods sold are determined.
5. The specific identification method: The specific identification method can be ud
when units in the ending inventory can be identified as coming from specific purchas.
6. The weighted average cost method: The weighted average cost method assumes that
the goods available for sale have the same cost per unit. Under this method, the cost of goods available for sale is allocated on the basis of the weighted-average unit c0st.
7. The first-in, first-out (FIFO) method: The first-in, first-out (FIFO) method is ba on the
assumption that the costs of the first items acquired should be assigned to the first item sold.
Chapter 5
1. Accelerated depreciation: Accelerated depreciation is a method of depreciation that
call for recognition of relatively large amounts if depreciation in the early years of an ast’s uful life and relatively small amounts in the later years.
2. Depreciable value: Depreciable value is the amount of the acquisition cost to be
allocated as depreciation over the total uful life of an ast. It is the difference between the total ac
quisition cost and the estimated residual value.
3. Depreciation: Depreciation is the systematic allocation of the cost of an ast to
express over the years of its estimated uful life.
4. Fair market value: Fair market value is the value of an ast bad on the price for
which a company could ll the ast to an independent third party.
5. Impairment: Impairment is a change in economic conditions which reduces the
economic ufulness of an ast.写景作文三年级
6. Residual value: Residual value is the amount a company expects to receive from
disposal of an ast at the end of its uful life.
7. Uful life: Uful life refers to the shorter of the physical life or the economic life of an
ast.
1. Amortization: The systematic write-off to expen of the cost of an intangible ast
over the period of its economic ufulness.
2. Copyright: A grant by the state government covering the right to publish, ll, or
otherwi control literary or artistic products for the life of the author plus 50 years. 3. Franchis: Agreements entered into by two parties in which, for a fee, one party (the
franchisor) gives the other party (the franchie) rights to perform certain functions or ll certain products or rvices.
4. Goodwill: The prent value of expected future earnings of a business in excess of the
earnings normally realized in the industry.
5. Identifiable intangible ast: Intangibles that can be purchad or sold parately from
the other asts of the company.
6. Intangible asts: Tho asts which are ud in the operation of a business but
which have no physical substance and are not current.
7. Leas (or leaholds): Intangible asts becau a right to u the property is held
by the le.
8. Patent: An exclusive right granted by the state government giving the owner control of
the manufacturing, sale, or other u of an invention for a period of years from the date of filling.
9. Rearch and development costs: Expenditures that may lead to patent, copy rights,
new process and new products.
10. Trademarks: Distinctive identifications of a manufactured product or of a rvice,
taking the form of a name, a sign, a slogan, a logo, or an emblem.
Chapter 7
1. Available-for-sale curities: Securities that may be sold in the future.
2. Consolidated financial statements: Financial statements that prent the asts and
liabilities controlled by the parent company and the aggregate profitability of the affiliated companies.
3. Cost method: An accounting method in which the investment in common stock is迟到的英文
recorded at cost and revenue is recognized only when cash dividends are received.
4. Debt investments: Investments in government and corporation bonds.
5. Equity method: An accounting method in which the investment in common stock is
initially recorded at cost and the investment account is then adjusted annually to show the investor’s equity in the investee.
6. Fair value: Amount for which a curity could be sold in a normal market.
7. Held-to-maturity curities: Debt curities that investor has the intent and ability to
hold to maturity.
会计法规8. Investment portfolio: A group of stocks in different corporations held for investment
purpos.
9. Long-term investments: Investments that are not readily marketable and that
management does not intend to convert into cash within the next year or operating cycle, whichever is longer.
