會計英語 unit 1 Accounting

1、Accounting EnglishUnit OneLearning Objectives Unit Onel to describe the information system of accounting;l to describe the profession of accounting;l to state the accounting equation;l to describe financial statements;l to describe professional ethics in accounting. What is accounting? Is accounting

2、 important to you? Yes, accounting is important in your personal life as well as your career, even though you may not become an accountant.Warming-up Unit OneVocabulary Unit Onelaccountinglaccountantlbookkeepinglenterpriselbusinessldecision makingltransactionlinvestorlcreditorlassetl 會計，會計學(xué)l 會計師，會計從

3、業(yè)人員l 簿記l 企業(yè)l 商業(yè)，企業(yè)l 制定決策l 交易，經(jīng)濟業(yè)務(wù)l 投資者l 債權(quán)人l 資產(chǎn)Vocabulary Unit Onel liabilityl owners equity / capitall revenuel expensel incomel double-entry systeml American Institute of Certified Public Accountants (AICPA)l Chinese Institute of Certified Public Accountants (CICPA)l 負債l 所有者權(quán)益l 收入l 費用l 收益l 復(fù)式記賬l 美

4、國注冊會計師協(xié)會l 中國注冊會計師協(xié)會Vocabulary Unit Onel financial accountingl managerial accountingl tax accountingl accounting equation l business transactionl ethics of accountingl 財務(wù)會計l 管理會計l 稅務(wù)會計l 會計等式l 經(jīng)濟業(yè)務(wù)l 會計執(zhí)業(yè)道德accounting 會計account n. 賬戶； 賬目 saving account 儲蓄賬戶account for (比例)占.It accounts for 15% of all th

5、e accidents. keep a diary 寫日記enterpriser n. 企業(yè)家business n. businessman n. 商人It is none of your business. business manager 業(yè)務(wù)經(jīng)理make a decsion 做決定invest v. investment n. creditor n. 債權(quán)人 貸方debtor n. 債務(wù)人 借方credit n. 信用 （金融）貸款credit card 信用卡fixed asset 固定資產(chǎn) total asset 總資產(chǎn)liability n. 負債；責(zé)任；債務(wù)liable adj.

6、 有責(zé)任的，有義務(wù)的(responsible)be liable for 對有義務(wù)；對應(yīng)負責(zé)任owner n. 所有者 equity n. 公平，公正；抵押資產(chǎn)的凈值; 權(quán)益（equal adj. ）Stockholders equity 股東權(quán)益 capital n. 資金 資本human capital 人力資本 ; Capital market 資本市場 annual revenue 年營業(yè)收入Traveling expense 旅游消費personal income taxenter v. certificate n. finance n. manage v. equation n.方

7、程式，等式；相等(equal)ethics n. 倫理 道德 Topics1.1 Accounting: an information system1.2 Accounting and its profession1.3 Accounting equation1.4 Financial statements1.5 Professional ethics in accounting1.1 Accounting: an information systemAccounting is an information system necessitated by the great complexity

8、 of modern business.In developing information about the activities of a business, every accounting system performs the following basic functions: Interpret and record the effects of business transactions. Classify the effects of similar transactions in a manner that permits determination of the vari

9、ous totals and subtotals useful to management and used in accounting reports. Summarize and communicate the information contained in the system to decision-makers.1.1 Accounting: an information systemAccounting systems are designed to provide information that managers and outsiders can use in decisi

10、on-making. Accounting is a system of gathering, summarizing, and communicating financial information for a business firm, government, or other organizations. Accounting, also called accountancy, enables decision-makers to interpret financial information and use results in planning for the future. Fo

11、r example, such data tell executives which products or departments are doing well or poorly.1.2 Accounting and its professionAccounting has a long history. In the fifteenth century, Luca Pacioli , an Italian, established a system of record keeping which came to be called “double entry”. “It is one o

12、f the most beautiful inventions of the human spirit, and every good businessman should use it in his economic undertakings,” said Goethe, the German poet. Double-entry-system is the foundation of the modern accounting. During the eighteenth century, the Industrial Revolution brought many social and

13、economic changes. The specialized field of cost accounting emerged to meet the need for the analysis of various costs and for recording techniques. 1.2 accounting and its profession In the nineteenth century, the growth of corporations speeded the development of accounting. More and more individuals

14、 and institutions looked to accountants to provide information about these enterprises. The development of corporation also created a new social needthe need for an independent audit to provide some assurance that managements financial representations were reliable. In the United States, American In

15、stitute of Certified Public Accountants (AICPA) is the largest professional organization of accountants, equivalent to Chinese Institute of Certified Public Accountants (CICPA) in China. 1.2 accounting and its professionComputers have revolutionized accounting recently.Accounting practices are in th

16、ree main fields financial accounting, managerial accounting, and tax accounting. Please notice that this illustration does not include not-for-profit accounting, which is performed for hospitals, universities, and other not-for-profit agencies. 1.2 accounting and its professionFigure 1.1 ActivitiesP

17、erformed byaccountantsFinancial- s t a t e m e n t preparation-statement analysis-auditing-consulting-planningManagerial-cost accounting-budgeting-internal auditing-managementconsultingTaxation-preparation-planning-investigations-consultingAccounting-related-lenders-consultants-analysts-traders-mana

18、gers-directors-underwriters-planners-appraisers1.2 accounting and its professionAccountants can also be categorized based on the kinds of organizations they work in.Private accountants normally work for one employer and offer services such as accounting, budgeting, and internal auditing.Public accou

19、ntants work for many clients and offer auditing, management advisory, and tax services.Government accountants audit tax returns and accumulate financial information for federal, provincial, and municipal agencies.1.3 accounting equationThere are six elements in accounting: assets, liabilities, owner

20、s equity, revenue, expense and profit. There exist well-organized quantitative relations among the six accounting elements. The total amount of assets will always equal to the claim rights of these assets by creditors and owners equity. 1.3 accounting equationAccounting equation accounts for the com

21、mon quantitative relation among accounting elements: Assets= Liabilities + Owners Equity Revenue-Expense=Profit The balance of profit distribution after tax is accumulated in “retained earning” accounts which is an item in owners equity. Therefore, the two equations above can be consolidated as:Asse

22、ts=Liabilities +Owners Equity+ (Revenue-Expense)1.3 accounting equationAt the end of an accounting year, the balance of profit distribution after tax is transferred into “retained earnings” through accounting calculation. The equation restores to:Assets=Liabilities+ Owners Equity Accounting equation

23、 is the basis for double-entry rule. The set of accounting items and the establishment of accounts, the record of business, the preparation of report and the calculation of all economic index are all based on accounting equation.1.4 financial statement After transactions have been recorded and summa

24、rized, reports are prepared for users. The accounting reports that provide this information are called financial statements. The principal financial statements of a proprietorship are the income statement, the statement of owners equity, the balance sheet, and the statement of cash flows. The order

25、in which the statements are normally prepared 1.4 financial statement Income Statements - A summary of the revenue and expenses for a specific period of time, such as a month or a year. Statement of Owners Equity - A summary of the changes in the owners equity that have occurred during a specific pe

26、riod of time, such as a month or a year. Balance Sheet - A list of the assets, liabilities, and owners equity at a specific date, usually at the close of the last day of a month or a year. Statement of Cash Flows - A summary of the cash receipts and cash payments for a specific period of time, such

27、as a month or a year.1.5 Professional ethics in accountingEthics is essentially the study of right and wrong, and has been a prominent and sensitive issue in the accounting profession for years.Ethical codes serve as a foundation for developing ethical behavior in professions. They also provide a fr

28、amework for ethical practice. In recent years there has been widespread interest in accounting ethics, due partly to wide media coverage of events involving a host of misdeeds, such as insider trading, tax evasion, audit failure, and fraud. Reports of unethical behavior are a threat to public confid

29、ence in the accounting profession. 1.5 Professional ethics in accountingIt is not too early to introduce some basic ethical standards that are expected of professional accountants. Four key standards are below:Integrity. Accountants have a responsibility to report favorable as well as unfavorable in

30、formation and to refrain from taking actions which undermine an organizations legitimate and ethical objectives. Integrity implies that accountants should not take unfair advantage of information and should act in the interests not only of their clients but of other indirect users. Accountants shoul

31、d also disassociate themselves from any attempts to disclose misleading information.1.5 Professional ethics in accountingConfidentiality . Accountants have a duty to refrain from disclosing confidential information unless legally obligated to do so. The work of the accountant regularly involves deal

32、ing with confidential files about the personal and business affairs of their clients. Decisions made on information provided by accountants can materially affect the lives of clients and others, often referred to as third parties, which include employees, creditors, investors, suppliers, customers,

33、government, and the general public.1.5 Professional ethics in accountingCompetence. Accountants have a duty to perform their professional duties according to high standards and to ensure that they stay current with changes in the profession. Users of accounting information may not have accounting ex

34、pertise. Thus, members of the accounting profession enjoy a position of power. To be worthy of user confidence, accountants must not abuse this power and must act according to a high ethical standard. Accountants have an ethical obligation to maintain both technical competence and moral competence.

35、1.5 Professional ethics in accountingObjectivity. Accountants must fully disclose all relevant information that assists users to understand financial reports. Businesses, governments, and the public at large depend on the accounting profession to provide fair financial reporting and business advisor

36、y services. Accountants, therefore, are obligated to provide information that is objective so that users can rely on its accuracy when making investment and credit decisions.Notes Unit Onel Classify the effects of similar transactions in a manner that permits determination of the various totals and

37、subtotals useful to management and used in accounting reports. 按照一定的方法將相似商業(yè)交易的影響進行分類，該方法允許各類不同的加總或部分加總的計算，以便提供給管理層和編制會計報告。l The development of corporation also created a new social need the need for an independent audit to provide some assurance that managements financial representations were reliab

38、le. 同時，公司的發(fā)展產(chǎn)生了一項新的社會需求，即需要獨立審計針對企業(yè)管理部門所呈報的財務(wù)報表是否可靠提供相應(yīng)的鑒證。Notes Unit Onel Certified Public Accountant (CPA) 注冊會計師。他們是有資格執(zhí)行審計業(yè)務(wù)的專業(yè)人員，一般需滿足三個方面的條件才能獲得這種資格：（1）接受過專業(yè)教育，通常要有本科學(xué)歷，有的國家甚至要求更高的學(xué)歷; (2)具有一定期限的會計或?qū)徲嫻ぷ鹘?jīng)驗；（3）通過由專業(yè)會計團體舉辦的統(tǒng)一考試。 注冊會計師在英國及英聯(lián)邦國家稱為CA，即特許公認會計師 Chartered Accountant.l American Institute

39、of Certified Accountants 美國注冊會計師協(xié)會，簡稱AICPA，是美國全國性的民間會計專業(yè)團體，負責(zé)制定會計師執(zhí)業(yè)標準和規(guī)則，進行會計方面的科學(xué)研究并出版一些會計學(xué)刊物，組織并為會員提供繼續(xù)教育的機會，組織一年兩度的注冊會計師統(tǒng)一考試，在國際上有較大影響。Notes Unit Onel The set of accounting items and the establishment of accounts, the record of business, the preparation of report and the calculation of all econo

40、mic index are all based on accounting equation. 會計科目的設(shè)置和賬戶的建立，經(jīng)濟業(yè)務(wù)的記錄，報告的編制，以及各經(jīng)濟指標的計算等等，都是以會計等式為依據(jù)的。l Accountants have a responsibility to report favorable as well as unfavorable information and to refrain from taking actions which undermine an organizations legitimate and ethical objectives. 會計有責(zé)任

41、報告與企業(yè)相關(guān)的全部信息，包括有利的和不利的信息，同時要抵制那些破壞企業(yè)的合法性和道德宗旨的行為。Notes Unit Onel Decisions made on information provided by accountants can materially affect the lives of lives of clients and others, often referred to as third parties, which include employees, creditors, investors, suppliers, customers, government a

42、nd the general public. 會計決定披露哪些信息可能對企業(yè)客戶或其他人（我們稱之為第三方）的生活產(chǎn)生重大影響。第三方包括雇員、債權(quán)人、投資者、供應(yīng)商、顧客、政府和公眾。l Assets: current assets, non-current assets; fix assets, intangible assets, etc. 資產(chǎn)可以分為流動資產(chǎn)和非流動資產(chǎn)；固定資產(chǎn)和無形資產(chǎn)等。Exercises Unit OneII. Term Study. Match the terms in column A with the definitions in column B.AB

43、1. accounting2. public accountant3. Certified Public Accountant4. private accountant5. objectives of financial accounting6. government accountantA. provide useful information for decision-makingB. person must pass a series of examinations and meet certain other requirementsC. work for one employer a

44、nd offer services such as accounting, budgeting, and internal auditingD. audit tax returns and accumulate financial information for federal, provincial, and municipal agencies.E. the language of businessF. offer auditing, management advisory, and tax servicesExercises Unit OneIII. Decide whether the

45、 following statements are true or false. Write T for true and F for false.( ) 1. Accounting is a system of gathering, summarizing and communicating financial information for a business firm, government or other organization.( ) 2. Accounting practices are in two main fields financial accounting and

46、managerial accounting.( ) 3. Accounting equation accounts for the common quantitative relation among accounting elements: Assets = Liabilities + Owners Equity( ) 4. Accountants have an ethical obligation to maintain only moral competence.TTFFExercises Unit OneIV. Choose the best answer.1. Which of t

47、he following describe accounting? A.is language of business B.is an information system C.is useful decision making D.all of the above2. Accounting is an information system that _. A.measures business activities B.processes information into reports C.communicates findings to decision-makers D.all of

48、the above3. Accounting information is used by _. A.businesses B. government regulation agencies C.labor unions D.all of the above Exercises Unit One4. A procedural element of accounting is _. A.planning B.control C.bookkeeping D.auditing5. Purposes of an accounting system include all of the followin

49、g except _. A.interpret and record the effects of business transactions B.classify the effects of transactions to facilitate the preparation of reports C.summarize and communicate information to decision makers D.dictate the specific types of business transactions that the enterprise may engage in6. An accounting process includes all of the following steps except _. A.analyzing B.planning C.classifying D.summarizing Exercises Unit OneV. Translate the following into English.1. 會計的作用是為決策提供財務(wù)信息。 The function of accounting is designed to provide financial