财务会计英语unit1General Introduction to Financial Accounting教材课程.ppt

General Introduction to Financial Accounting;Contents;Section1 Accounting Equation and Accounting Elements;1.2 Accounting elements Asset (资产) are economic resources that are owned or controlled by a business as a result of past transactions or events and are expected to generate economic benefits to the business. Assets can be classified as current assets, fixed assets, and intangible assets. ; Current assets (流动资产) are short-term assets including cash, bank deposit, accounts receivable, inventory, etc. Fixed assets (固定资产) are non-current assets, including land, buildings, equipment, furniture, etc. Intangible assets (无形资产) are also non-current assets, including patents, copyrights, licenses, franchises, goodwill, etc.;Owner’s equity (所有者权益) is the residual interest in the assets of a business after deducting all its liabilities, i.e. the net assets of a business. When a business is owned by one person, the owner’s equity is shown as “Capital”. When it is owned by stockholders, it is shown as “Stockholder’s Equity”.;Revenue (收入) is the gross inflow of economic benefits derived from the course of ordinary activities that result in increase in owner’s equity, other than the increase relating to contributions from owners.;Expense (费用) are the gross outflow of economic benefits resulted from the course of ordinary activities resulting in decreases in owner’s equity caused by the business’ revenue-producing operations, other than the decreases from distributions of profits to owners.;Profit (利润)often called net income, is also the increase in owner’s equity resulting from profitable operation of a business over a specific accounting period. ;●1.3 Accounting elements in the accounting equation;Section1 Accounting Equation and Accounting Elements;Exercises;1.6 Expenses are the decrease in owner’s equity caused by the company’s ___________ operations. 1.7 Profit is the _______ of revenue over expenses over a specific accounting period. 1.8 The accounting