Chapter 1 Accounting English.pptVIP

Accounting English会计英语 ;任教科目：; 手机：188-6750-0087 Email: yw305@hdu.edu.cn QQ群： ;*;;推荐网站;*;Chapter 1;Understand an information system of accounting;;;Users of accounting information; 1.2 Forms of organization;1.3 International financial reporting standards ; Generally accepted accounting principles (GAAP);include: business entity (会计主体原则） monetary unit （货币计量原则） objectivity principle （客观性原则) cost principle (成本原则） going-concern （持续经营原则） revenue recognition principle（收入确认原则) time period (会计分期原则） materiality principle （重要性） matching principle （配比原则） consistency principle （一致性原则） conservatism principle （稳健性原则） full-disclosure principle （充分披露原则） ;1.4 Financial statements;Balance Sheet;Definition of Assets: Probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or event. ;Definition of Liabilities Probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or event. ;Definition of Equity: The residual interest in the assets that remains after deducting its liabilities. ;Income Statement;Cash Flow statement;1.5Accounting Profession; Fields of accounting; Types of accountants;1.6 The accounting equation;*;Effects of Transactions on the Accounting Equation;*;On May 1, 2001, Jill Jones deposited $8,000 in the bank to officially start JJ’s Lawn Care Service.;The Effects of Business Transactions;On May 2, 2001, JJ’s purchased a riding lawn mower for $2 500 cash.;The Effects of Business Transactions;On May 8, 2001, JJ’s purchased a $15,000 truck. JJ’s paid $2 000 down in cash and issued a note payable for the remaining $13 000.;The Effects of Business Transactions;On May 11, 2001, JJ’s purchased some repair parts for $300 on account.;The Effects of Business Transactions;On May 18, 2001, JJ’s sold half of their repair parts to ABC Lawns for $150, a price equal to