会计英语.docx

会计英语.docx

《会计英语.docx》由会员分享，可在线阅读，更多相关《会计英语.docx（12页珍藏版）》请在冰豆网上搜索。

会计英语

会计专业英语名词解释

Chapter1

1.Accounting:

Accountingistheprocessofidentifying,measuring,recording,andcommunicatingeconomicinformationtopermitinformedjudgmentsanddecisionsbyusersoftheinformation.

2.Accrualbasisaccounting:

Accrualbasisaccountingreferstoanaccountingmethodthatrecordsfinancialeventsbasedoneconomicactivityratherthanfinancialactivity.Underaccrualaccounting,revenueisrecordedwhenitisearnedandrealized,regardlessofwhenactualpaymentisreceived.Similarly,expensesarematchedwithrevenueregardlessofwhentheyareactuallypaid.

3.Balancesheet:

Balancesheetisthefinancialstatementshowingthefinancialpositionofanentitybysummarizingitsassets,liabilities,andowner’sequityatonespecificdate.

4.Businessentity:

Businessentityreferstoaneconomicunitthatcontrolsresources,incursobligations,andengagesinbusinessactivities.

5.CAS:

ChineseAccountingStandardsrefertotheaccountingconcepts,measurementtechniques,andstandardsofpresentationusedinfinancialstatementsmadebythePRCFinancialApartment.

6.Cashbasisaccounting:

Cashbasisaccountingisamethodofbookkeepingthatrecordsfinancialeventsbasedoncashflowsandcashposition.Revenueisrecognizedwhencashisreceivedandexpenseisrecognizedwhencashispaidout.

7.Conservatism:

Conservatismstatesthatwhenalternativeaccountingvaluationsareequallypossible,theaccountantshouldselecttheonethatisleastlikelytooverstateassetsandincomeinthecurrentperiod.

8.Consistency:

Consistencymeansthatacompanyusesthesameaccountingprinciplesandmethodsfromyeartoyear.

9.Continuity:

Continuityreferstoanaccountingassumption,alsoknownasthegoing-concernassumption,thatthecompanywillcontinuetooperateinthenearfuture,unlesssubstantialevidencetothecontraryexists.

10.Corporation:

Corporationisabusinessorganizedasaseparatelegalentityunderstatecorporationlawandhavingownershipdividedintotransferablesharesofstock.

11.Costprinciple:

Costprincipleisawidelyusedprincipleofaccountingforassetsattheiroriginalcosttothecurrentowner.

12.Financialaccounting:

Financialaccountingreferstothedevelopmentanduseofaccountinginformationdescribingthefinancialpositionofanentityandtheresultsofitsoperations.

13.Financialposition:

Financialpositionreferstothefinancialresourcesandobligationsofanorganization,asdescribedinabalancesheet.14.Financialreporting:

Financialreportingreferstotheprocessofperiodicallyproviding“general-purpose”financialinformation（suchasfinancialstatements）topersonsoutsidethebusinessorganization.

15.Financialstatements:

Financialstatementsrefertothefourrelatedaccountingreportsthesummarizethecurrentfinancialpositionofanentityandtheresultsofitsoperationsfortheprecedingyear（orothertimeperiod）.

16.Fulldisclosureprinciple:

Fulldisclosureprinciplerequiresthatcircumstancesandeventsthatmakeadifferencetofinancialstatementusersbedisclosed.

17.Going-concernassumption:

Go-concernassumptionisanassumptionbyaccountantsthatabusinesswilloperateindefinitelyunlessspecificevidencetothecontrary,suchasimpendingbankruptcy,exists.

18.Historicalcost:

Thehistoricalcostofanassetistheexchangepriceinthetransactioninwhichtheassetwasacquired.

19.Matchingprinciple:

Matchingprincipleisanaccountingprinciplethatdictatesthatexpensesbematchedwithrevenueintheperiodinwhicheffortsaremadetogeneraterevenue.

20.Materiality:

Materialityreferstothemagnitudeofanomissionormisstatementofaccountinginformationthat,consideringthecircumstances,makesitlikelythatthejudgmentofareasonablepersonrelyingontheinformationwouldhavebeeninfluencedbytheomissionormisstatement.21.Marketvalue:

Marketvalueistheestimatedamountforwhichapropertyshouldexchangeonthedateofvaluationbetweenawillingbuyerandawillingsellerinanarm’s-lengthtransactionafterpropermarketingwhereinthepartieshadeachactedknowledgeably,prudently,andwithoutcompulsion,

22.Netrealizablevalue:

Thenetrealizablevalueofanassetistheamountofcash（ortheequivalent）thatcouldbeobtainedonthedateofthebalancesheetbysellingtheassetinitspresentcondition,inanorderlyliquidation.

23.Incomestatement:

Incomestatementisafinancialstatementindicatingtheprofitabilityofabusinessoveraprecedingtimeperiod.

24.Partnership:

Partnershipisabusinessownedbytwoormorepersonsassociatedaspartners.

25.Presentvalue:

Thepresentvalueofanassetisthenetamountofdiscountedfuturecashinflowslessthediscountedfuturecashoutflowsrelatingtotheasset.

26.Proprietorship:

Partnershipisabusinessownedbyoneperson.

27.Relevance:

Accountinginformationisrelevantifitcanmakeadifferenceinadecisionbyhelpinguserspredicttheoutcomesofpast,present,andfutureeventsorconfirmorcorrectpriorexpectations.Toberelevant,accountinginformationshouldhaveeitherpredictiveorfeedbackvalue,orboth.Inaddition,itshouldbetimely,

28.Reliability:

Reliableinformationisreasonablyfreefromerrorandbias,andfaithfullyrepresentswhatitisintendedtorepresent.Thatis,tobereliable,informationshouldbeverifiable,neutral,andpossessrepresentationalfaithfulness,

29.Revenuerecognitionprinciple:

Anaccountingprinciplethatdictatesthatrevenueberecognizedintheaccountingperiodinwhichitisearned.

30.Statementofcashflow:

Afinancialstatementsummarizingthecashreceiptsandcashpaymentsofthebusinessoverthesametimeperiodcoveredbytheincomestatement.

31.Statementofowner’sequity:

Afinancialstatementexplainingcertainchangesintheamountoftheowner’sequity（investment）inthebusiness.

Chapter2

1.Asset:

Assetsmeantheentirepropertyofaperson,association,corporation,orestateapplicableorsubjecttothepaymentofdebts.

2.Operatingcycle:

Theoperatingcycleisthetimespanfromwhencashisusedtoacquiregoodsandserviceanduntilcashisreceivedfromthesaleofgoodsandservice.

3.Cash:

cashreferstoanexchangemediumlaunchedintocirculationwhichisavailableforanyordinaryuseandcanbeusedtopurchasegoodsorservicesorrepaydebts.4.Cashequivalents:

Cashequivalentsareshort-term,highlyliquidinvestmentsorotherassetsthatreadilyconvertibletocashandsufficientlyclosetotheirduedate.

5.Internalcontrol:

Internalcontrolmeansallpoliciesandproceduresusedtoprotectassets,ensurereliableaccounting,promoteefficientoperations,andurgeadherencetocompanypolicies.

Chapter3

1.Receivables:

Receivablesrefertothemonetaryclaimsagainstbusiness,individualsandotherdebtors.

2.Accountsreceivable:

Accountsreceivablesareamountsduefromcustomersforcreditsales.Thissectionbeginsbydescribinghowaccountsreceivablesoccur.Itincludesreceivablesthatoccurwhencustomersusecreditcardsissuedbythirdpartiesandwhenacompanygivescreditdirectlytocustomers.

3.Installmentaccountsreceivables:

Installmentaccountsreceivablesareamountsoveranextendedtimeperiod.

4.Commercialdiscounts:

Commercialdiscountsrefertoacertainsumofmoneydeductedfromlistedprices.

5.Cashdiscounts:

Cashdiscountsrefertoadeductionfromgrossinvoiceprice,whichareaninducementofferedtothebuyertoencouragethepaymentsofgoodswithinaspecificperiodoftime.6.Thepercentage-of-salemethod:

Thepercentage-of-salemethodestimatessomepercentageofcreditsaleswouldturnouttobeuncollectible,inwhichthepercentageofbaddebtstocreditsalesshouldbeproperlyestimatedwiththepastexperience.

7.Thepercentage-of-receivablemethod:

Thepercentage-of-receivablemethodestimatestheuncollectiblewithapercentageoftheendingbalanceofaccountsreceivablesratherthancreditsales.

8.Theagingmethod:

Theagingmethodanalyzestheagestructureoftheaccountbalance.Inthismethod,anagingscheduleisprepared,classifyingthelengthoftimethathaspassessincethesalethatgaverisetothem.

9.Theallowancemethod:

Theallowancemethodisthemostusualwaythatcompaniesusetorecorduncollectibleaccounts.Incalculatinguncollectibleaccounts,anaccountallowancesforuncollectiblereceivableissetup.

10.Promissorynote:

Apromissorynoteisawrittenpromisetopayacertainsumofmoneyondemandoratafixedanddeterminablefuturetime,generallyover30or60days.

Chapter4

1.Inventory:

Inventoryisthetotalamountifgoodsand/ormaterialscontainedinastoreorfactoryatanygiven.

2.Productcosts:

Productcostsarethosecoststhat“attach”totheinventory.Suchchargesincludefreightchargesongoodspurchased,otherdirectcostsofacquisition,andlaborandotherproductioncostsincurredinprocessingthegoodsuptothetimeofsale.

3.Theperpetualinventorysystem:

Theperpetualinventorysystemrequiresthatseparateinventoryledgerbemaintainedforeachgoods.

4.Theperiodicinventorysystem:

Theperiodicinventorysystemrequiresacompanydeterminesthequantityofinventoryonhandonlyperiodically,underwhichthecostofendinginventoryissubtractedfromthecostofgoodsavailableforsale,thenthecostofgoodssoldaredetermined.

5.Thespecificidentificationmethod:

Thespecificidentificationmethodcanbeusedwhenunitsintheendinginventorycanbeidentifiedascomingfromspecificpurchases.

6.Theweightedaveragecostmethod:

Theweightedaveragecostmethodassumesthatthegoodsavailableforsalehavethesamecostperunit.Underthismethod,thecostofgoodsavailablef