会计专业英语,教案.docVIP

会计专业英语,教案 篇一：会计专业英语教案一 CHAPTER 1: INTRODUCTION 1．TYPES OF BUSINESS OWNERSHIP As with types of businesses, the way in which the accounting information is reported will depend on the type of ownership. The main types of ownership are: Sole proprietor This is one person in business on his or her own. The owner gets to make all the decisions but has no other owner of the business to consult if needed. The owner also gets to keep all the profits but, if the business should fail, the owner not only loses the business but all his or her personal possessions as well until the debts are satisfied. A sole proprietor has unlimited liability. It is also more difficult to obtain finance for a sole proprietor business. Nevertheless, most businesses begin life under sole proprietor ownership. Partnership Under this type of ownership, two or more people decide to pool their skills and resources and go into business together. A partnership, like a sole proprietorship, has unlimited liability. Indeed, one partner may be responsible for getting the partnership into debt but another partner may have to pay those debts out of their personal funds. A partnership type of ownership is common among lawyers and doctors as they are bound by the ethics of their profession to suffer unlimited liability. Accountants can now form companies, with the exception of Auditors. Company An important feature of a company is that it is a separate legal entity from its owners for the period by deducting Expenses from Income, using the formula USES OF THE INCOME STATEMENT ? ? ? ? ? Managers allocate resources based on the performance of the business It can be used to discover if the business is maintaining an adequate margin on sales The Inland Revenue Department (IRD) uses it to assess taxation liability Unions may examine it as part of salary discussions Investors are interested in judging the performance of the business to assess the management performance, and to