Chapter 1 overview of financial accounting 会计英语 第一章 财务会计总论.pptxVIP

Chapter I overview of financial accounting;1.1 ;1.2 ;1.3 ;The economic activities of FedEx Corporation are divided into 12-month periods for the purpose of issuing annual reports. (b) Solectron Corporation, Inc. does not adjust amounts in its financial statements for the effects of inflation. (c) Walgreen Co. reports current and noncurrent classifications in its balance sheet. (d) The economic activities of General Electric and its subsidiaries are merged for accounting and reporting purposes.;1.4 ;Norfolk Southern Corporation reports revenue in its income statement when it is earned instead of when the cash is collected. (b) Yahoo, Inc. recognizes depreciation expense for a machine over the 2-year period during which that machine helps the company earn revenue. (c) Oracle Corporation reports information about pending lawsuits in the notes to its financial statements. (d) Eastman Kodak Company reports land on its balance sheet at the amount paid to acquire it, even though the estimated fair market value is greater.;1.5 ;1.6 ;1.7 ;1.7.2 ;Cash balance and accrual accounting profit ;Cash in bank as at the end of 2006 Owing from customers as at the end of 2006(collected in 2007) Cash collected from customers during 2007 for 2007 trips Owing from customers as at the end of 2007(collected in 2008) Payable to suppliers as at the end of 2006(paid in 2007) Cash paid to suppliers during 2007 for 2007 expenses Payable to suppliers as at the end of 2007(paid in 2008) Depreciation on diving equipment during 2007 Cash used by Dawn for personal purposes during 2007 ;LRM Pty Ltd (March 2008);Pty Ltd Proprietary Limited 私人有限公司 promissory note 本票,期票,借据 Promissory bank note 银行本票 bill of exchange 汇票 Commercial Bill of Exchange 商业汇票 贸易汇票 ;LTM Pty Ltd Balance sheet as at 31 March 2008 ;CappuMa nia Pty Ltd (March 2007) ;Let’s see how the following four transactions, all happening on 1 April 2