会计英语复习.pptxVIP

Chapter 7 Liabilities Special Terms (1) liability 负债，责任 (2) Obligation 义务，职责 (3) Trade accounts payable 应付商业账款 (4) Trade notes 商业票据 (5) Load notes 贷款票据 (6) Contingent liabilities 或有负债 (7) Gain contingent 或有利得 (8) Loss contingent 或有损失 (9) Liquidation 清算 (10) Sacrifice 牺牲，亏本出售 Defining Liabilities The obligation must involve a future sacrifice of cash, goods, or services会导致未来经济利益流出 ； It must be an obligation of the enterprise本企业的义务; The transaction or event that giving rise to the enterprise’s obligation must have occurred现时义务 What is a Liability? FASB, defines liabilities as: “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 events.”是指企业过去的交易或者事项形成的、预期会导致经济利益流出企业的现时义务。 Classifying Liabilities Current Liabilities Current Liabilities Payable within one year Company’s operating cycle, if longer than one year Current liabilities classified in three ways (1) Known amount (2) Estimated amount (3) Contingencies 或有事项 Current Liabilities of Known Amount Accounts Payable 应付账款 Short-Term Notes Payable 短期应付票据 Short-Term Notes Issued at Discount折价发行的短期应付票据 Advances from customers 预收账款 Current Portion of Long-Term Debt 一年内到期的长期负债 Dividend payable 应付利息 Third-party collections 受托商品款 Accounts Payable Accounts payable are amounts owed to suppliers for products or services purchased on credit. Company A purchased an $40,000 supplies from company B on credit. Dr. supplies 40,000 Cr. Accounts Payable 40,000 A written promise to pay a specified amount on a definite future date within one year or the company’s operating cycle, whichever is longer. Short-Term Notes Payable Example P73 Contingent liabilities Contingent liabilities are obligations that are dependent upon the occurrence of nonoccurrence of one or more future events to con