世纪行业英语系列教程.ppt
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1、21世纪行业英语系列教程,会计英语,上海交通大学出版社,Unit 2 Accounting Cycle-1 会计循环1,Objectives 1. To understand the increases and decreases in asset, liability, equity, income and expense . 2. To record and store in T accounts by using debit and credit . To record accounting entries in journals and then post to ledger acco
2、unts. Focus S: Debit and credit in accounts L: The chart of accounts L: The rule of debit and credit S: Journal R: Posting R: Trial balance,Unit 2 Accounting Cycle-1 会计循环1,1. Starter,2. The chart of accounts,3. The rule of debit and credit,4. Journal,5. Posting,6. Trial balance,7. Project,8. Supplem
3、entary reading,9. Surfing the Internet,10. Enjoying yourself,1.Starter Debit and credit in accounts,Vocabulary,debit 借方 eg: side is the left side. credit 贷方 eg: side is the right side. account 账户 eg:My is a savings . journal 日记账 eg:The is the book of entry. ledger 分类账 eg:The is the group of accounts
4、 used by a business.,Phrases and Expressions,share capital 股本,1.Starter Debit and credit in accounts,A. Look at the picture of journal and ledger accounts and finish the ledger accounts according to the journal. (Copy information from journal to ledger.),Answer,B. Please show the information flow in
5、 the accounting system.,journal ledgerfinancial statements,2. The chart of accounts,Vocabulary,segregate分离(from) eg:A power firm might its industrial customers from residential customers. structure结构 eg:Can you talk about the of the company? heading标题 eg:The of financial statements should be arrange
6、d on the top.,Vocabulary,consistency一致性 eg:We can ensure in the quality of every batch of products. appearance出现 eg:The financial journal makes its once every two months.,Phrases and Expressions,chart of accounts 科目表 in order to 为了 assist in 帮助,2. The chart of accounts,Listen to the passage and fill
7、 in the blanks.,A chart of accounts is a list of accounts used by a business entity to define each class of items. It is used to segregate (1) , revenue, (2) , and (3) in order to give a better understanding of the entity. The structure and headings of accounts should assist in consistency of transa
8、ctions. The list is typically arranged in the order of the appearance of accounts in the (4) , profit and loss accounts followed by balance sheet accounts. It means we can follow the order of assets, liabilities, (5) , income, and expenses.,expenses,assets,liabilities,financial statements,equity,Not
9、e,chart of accounts: 科目表,是将企业使用的账户名和编号,按一定的顺序排列。西方国家没有统一的科目,可由企业自行设计。,3.The rule of debit and credit,Vocabulary,capital资本 eg:I want to start my own business but I dont have any . equality平等,相等 eg:I hope the trade between us will be further developed on the basis of and mutual benefit. decrease减少 eg:
10、There has been a steady in production cost in this factory.,Vocabulary,normal正常的 eg:Hes selling his ties at a 10% discount on the retail price. withdrawal取款,收回,撤回 eg:He has made several s from his bank account. dividend股利 eg:The company paid a 10% s last year.,Phrases and Expressions,depend on取决于,3.
11、The rule of debit and credit,Listen to the passage and complete the tables.,Hints: Debit means left side, while credit means right side. We use the debit side of an assets account for increases and the right side for decreases. To keep the equality of debits and credits, we should use the credit sid
12、e of liabilities equity for increases.,Owners equity,The owners equity section of a balance sheet differs for different forms of business ownership.For example : In a sole proprietorship ,the equity section of the balance sheet is a single line .The beginning and ending balances of owners equity als
13、o shown on the statement of changes in equity. In a partnership,the equity section of the balance sheet has a line for each partners equity(capital).Changes in the partners equity are also shown on the statement of partners equity.,Owners equity,For the corporate form of ownership,the owners equity
14、section is referred to as shareholders equity .Shareholders equity is more complex than owners equity .It consists of two main categories: Contributed capital /paid-in capital,which represents amounts paid in by shareholders.This portion of shareholders equity is called ordinary shares in the corpor
15、ation issues only one kind of share. Retained earnings,which represents the corporations cumulative net profits less net losses and dividends (distributions to shareholders )since inception(起初).,Tapescript,Every transaction is recorded in two or more accounts with equal debits and credits. The debit
16、s in the ledger must equal the credits. The accounting equation has been introduced: Assets = Liabilities + Equity The rules of debit and credit can be summarized as follows: 1.Debit side for increases in assets, decreases in liabilities and equity. 2.Credit side for increases in liabilities and equ
17、ity, decreases in assets. Owners equity has separate accounts for owners investments, withdrawals, income, and expenses. 1.Credit side for increases in investments and income. 2.Debit side for decreases in withdrawals and expenses. The normal balance of each type of account is a debit or credit bala
18、nce, depending on which side of the account is used to record increases.,The rule of debit and credit,1. Assets = Liabilities + Equity,increases,decreases,decreases,increases,decreases,increases,2.,withdrawals,expenses,investments,income,4.Journal,Vocabulary,consult咨询 eg:He is ing the companys legal
19、 advisor. supplies物料用品 eg:All of these are office . indent缩进 eg:You must the first line of a new paragraph in your sales report.,Phrases and Expressions,on account赊账 passive voice被动语 accounts payable应付账款 notes payable应付票据,4.Journal,David and Amy have just come back after class and are discussing the
20、 process of journalizing. Read and role-play the conversation. Then fill in the journal for transactions.,Amy: How do we prepare the assignment of the journal? David: I think we should understand the analysis procedure of transactions. There are three steps. Amy: Yes. Firstly, we can determine the t
21、ypes affected, such as asset, liability, equity, revenue, or expenses. Secondly, we can determine which accounts increase and /or decrease as a result of the transaction. David: And then we can convert the increase /decrease to debits and credits. Amy: Sure. David: Look at the textbook, Amy. The rul
22、es of debits and credit should be used. Amy: Certainly. But Im afraid Ill have problems.,David: Take it easy. We can find some examples. Here is Exercise 1. The first transaction is the owner, Amy Schneider, who invested $30,000 to start a consulting firm. Firstly, the asset and equity accounts will
23、 be affected. And secondly, both are increased. Cash and owners capital are both increased by $30,000. Just try, Amy! Amy: OK. We use debit for increases in asset and credit for increases in equity. It can be journalized as debit cash and credit owners capital. David: Look! You can do it. Passive vo
24、ice is also used, we can say “cash is debited and owners capital is credited.” Amy: Now we can prepare the journal. The date will be entered firstly, December 1. And then the debit account title “Cash” should be written down, after that is the credit account title “Amy Schneider, Capital”. Equal deb
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