Lesson Two.pptVIP

New Words，Phrases and Special Terms Balance Sheet：(Statement of Financial Position) is a financial statement that describes where the enterprise stands at a specific date. Income Statement：is an activity statement that depicts the revenues and expenses for a designated period of time. Statement of Cash Flows：depicts the ways cash changed during a designated period—the cash received from revenues and other transactions as well as the cash paid for certain expenses and other acquisitions during the period. New Words，Phrases and Special Terms Liability：obligations or debts. An obligation to transfer economic benefits as a result of past transactions. Accounts payable 应付账款 Contingent liability 或有负债 Current liability 流动负债 Deferred credit 递延贷款 Long-term liability 长期负债 Secured liability 担保负债 New Words，Phrases and Special Terms Owner’s Equity：The funds of an organization that have been provided by its owners. Total assets minus total liabilities. a residual amount Residual [r?z?d?u:?l] adj.存留下来的;剩余的;残余的 a residual value of 10% of its original cost 相当于原值10% 的余值 New Words，Phrases and Special Terms Liquidity：流动性，变现能力 The extent to which an organization’s assets are liquid，enabling it to pay its debts when they fall due and also to move into new investment. Liquidity asset 流动资产 Liquidity risk 流通风险 Liquidity ratio 流动资金比率 New Words，Phrases and Special Terms Accumulated depreciation：the total amount of depreciation written off the cost price or valuation of a fixed asset since it was brought into the balance sheet of an organization. Fixed assets：An asset of business intended for continuing use，rather than a short term circulating asset. Tangible assets：Assets that can be touched，such as land，buildings，and machinery，as compared to intangible fixed asset. Intangible assets：Fixed assets of non—monetary nature th