interm的ediate accounting ch 1.docVIP

Acct 224 CH 1 Words Function – 功能；函数；职责；运行 Business enterprise – 工商企业；企业机构 Investors and creditors Critical resource allocation decisions – 关键资源配置决策 Convey – 传达；运输 Explore – 探索；探测；探险 FASB – Financial Accounting Standards Board 财务会计标准委员会 Conceptual framework – 概念框架 Foundation – 基础；地基；基金会；创立 Disclosure – 披露；揭发 Accrual accounting – 权责发生制 Accrual – 自然增长；自然增长额 Define- 定义，明确；规定 Establishment- 确立；制定；公司；设施 Mechanism – 机制；原理；途径 Capital market – 资本市场 Sole proprietorship – 独资 Partnership – 合伙企业 Corporations – 公司；法人；社团 Dominant – 占优势的；支配的 Medium – 方法；媒介；媒体 NASDAQ – National association of securities dealers automated quotation 全国证券交易商自动报价系统协会 Security market – 证券市场 Security primary market 一级市场 Security secondary market 二级市场 Security exchange market 证券交易市场 Security-market indexes 证券市场指数 一级市场：新发行股票的市场，是企业进行股票发行，以企业、券商，和申购股票的机构或个人投资者为交易主体的市场。这个市场是直接由企业将股份抛进市场的途径，所以又可以称为批发市场。 二级市场：发行结束后在正规的交易所上市交易的市场。是机构或者个人投资者在证券交易所所进行的股票转让，以投资者 券商为主体对象的市场。我们在证券公司交易的股票是在交易所成交的，属于二级市场。简单来说，二级市场就是交易市场，只能不断将手中持有的股票转让，而美语权力将股票注销。 Institution – 制度；建立；公共机构；习俗 Initial owner – 原始持有人 Estimate – 估计；估量；判断 Cash disbursements – 现金支出 Play a vital societal role – 至关重要的社会角色 Learning objectives Describe the function and primary focus of financial accounting. (Page 4) Explain the difference between cash and accrual accounting. (Page 7) Define generally accepted accounting principles (GAAP) and discuss the historical development of accounting standards. (Page 9) Explain why the establishment of accounting standards is characterized as a political process. (Page 12) Explain the purpose of the FASB’S conceptual framework. (Page 20) Identify the objective of financial reporting, the qualitative characteristics of financial reporting information, and the elements of financial statements. (Page 21) Describe the four basic assumptions underlying GAAP. (Page 28) Describe the four broad accounting principles that guide accounting practice. (Page 29) Financial reporting case CFO: What is two plus two? Third candidate: