Unit 4 Current asset：.pptVIP

Accounting English会计英语 Unit 4 Current asset 流动资产 Key terms Current assets 流动资产 Cash and cash equivalent 现金和现金等价物 Money order 汇票 Deposit 银行存款 Currency 货币 Coins 硬币 Receivables 应收帐款 Prepayments 预付账款 Amortized cost 摊余成本 Key terms Effective interest method 实际利率法 Direct write-off method 直接转销法 Allowance method 备抵法 Allowance for doubtful accounts 坏账准备 Bad debts expense 坏账费用 Outstanding debtor 未偿付的应收账款 Irrecoverable debts written off 核销坏账 Promissory note 本票，期票 Key terms Note receivable 应收票据 Note payable 应付票据 Maker 出票人 Payee 收款人 Annual rate of interest 年利率 Treasurer 财务主管，会计 Inventory 存货 Opening inventory 期初存货 Closing inventory 期末存货 Key terms Purchase cost 采购成本 Cost of convention 加工成本 Trade discount 商业折扣 Raw materials 原材料 Work in the process 半成品 Finished goods 完成产品 Specific identification 具体辨认法 FIFO (first in first out) 先进先出法 Key terms LIFO (last in first out) 后进先出法 AVCO (average weighted cost) 加权平均法 Periodic weighted average 周期加权平均法 Continuous weighted average 连续加权平均法 Net realizable value (NRV) 可变现净值 Cost of goods sold 销货成本 Learning objectives Identify the definition and types of current assets Describe the nature(类型) of receivables Explain the methods of valuating inventory when items have been purchased at different prices Calculate the value of cost of goods sold Account for inventory and receivables Assets 资产 Assets are resources an entity controls as a result of past events and from which future economic benefits are expected to flow to the entity. Current asset —— such as inventory, receivables, cash, etc. Non-current assets —— property, equipment, etc. IAS 1 defines current asset when asset fits into one of the following conditions: Is expected to be realized in, or is held for sale or consumption in, the normal course of the entity’s operating cycle; Is held primarily for trading purposes or for the short-term and expected to be realized within twelve months of the reporting period; Is cash or a cash equivalent asset which is not restricted in its use. ①