21世纪行业英语系列教程 会计英语 上海交通大学出版社.

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1 21世纪行业英语系列教程 会计英语 上海交通大学出版社

2 Unit 1 An Introduction to Accounting 会计概述
Objectives 1. To know that accounting is an information system. 2. To understand generally accepted accounting principles applied to financial statements. To use the accounting equation to present accounting elements and their increases and decreases. Focus S: Accounting is an information system L: Forms of organization L: Financial reporting standards and convergence in China S: Accounting elements and using the accounting equation R: The accounting profession R: Professional ethics in accounting

3 Unit 1 An Introduction to Accounting 会计概述
1. Starter 2. Forms of organization 3. Financial reporting standards and convergence in China 4. Accounting elements and using the accounting equation 5. The accounting profession 6. Professional ethics in accounting 8. Further reading 7. Project 10. Enjoying yourself 9. Surfing the Internet

4 1.Starter— Accounting is an information system

5 Vocabulary 合理的决策 decision决策
eg:Our leaders made a sound decision for our company's future. investor投资者 eg:An investor of captipal has a major financial interest in an important business. creditor债权人 eg:The main creditor of the company is demanding payment. 资本投资者在重要的企业中 有着重大的财务利益。 公司的主要债权人正要求还款。

6 Phrases and Expressions
accounting information会计信息 economic activities 经济活动

7 The accounting process
1.Starter— Accounting is an information system A. Look at the illustration of the accounting system and match the numbers with the letters. The accounting process (2)____ (4)____ (3)____ (1)____ A. Actions (decisions) B. Accounting information C. Economic activities D. Decision makers C B A D

8 Assets=Liabilities+Owners‘ Equity
B. Tick off the primary users of accounting information. ( ) investors ( ) clients ( ) government ( ) labor unions ( ) the general public ( ) nation ( ) citizens ( ) creditors √ √ Assets=Liabilities+Owners‘ Equity Answer

9 课堂讨论1： 1、What is the definition of an accounting information system?
2、Do you know the primary users of accounting information?Who are they?

10 2.Forms of organization

11 proprietorship所有权 partnership合伙关系 corporation公司 Vocabulary
eg:In the United States ,it often takes just a few minutes to set up a new sole ~. partnership合伙关系 eg:She worked in ~with her sister. corporation公司 eg:He works for a large American ~.

12 Vocabulary ownership所有权 shareholder股东 attorney律师 accountant 会计师
eg:The office building is under new ~. shareholder股东 eg:~s will be voting on the development of the company. attorney律师 eg:The ~will give us legal advice for our company. accountant 会计师 eg:He is a trained ~.

13 Phrases and Expressions
point out指出 sole /single proprietorship独资企业 make it easier 使更容易 professional organization职业团体

14 Background A sole proprietorship is a business organization that is owned by one individidual.It is an accounting entity but not a legal entity.This means that the owner is responsible for the debts of the proprietorship .This is known as unlimited liability and is obviously a disadvantage of this form of businiess organization.

15 Background A partnership only differs from a single proprietorship in that it has more than one owner.The owners are called partners.There are some different types of partnerships in business activity.

16 Background A corporation is incorporated under local law as a separate entity;hence,its owners are called shareholders or stockholders ,They are not liable for the debts of the corporation.The limited liability is an obvious advantage of the form. The ownership of a corporation is divided into shares or stocks.Shares can be transferred between owners.

17 2.Forms of organization partnership corporation sole/single
David and Amy have just come back after class and are discussing the presentation for the next class. Listen to the conversation and fill in the blanks. Amy: How do we prepare the presentation on forms of business organization? David: Firstly, I think we can point out there are three types of organization. Amy: Yes. They are (1) , (2) , and (3) David: And then we can show the differences among them. Amy: Sure. sole/single proprietorship partnership sole (single) proprietorship ________________________________ ________________________________ partnership corporation _____________ _____________ corporation

18 David: Ownership can be the point.
Amy: Certainly. It’s the main difference. A sole proprietorship means (4) , a partnership means (5) , and a corporation is a business owned by (6) David: Yes, we can find some examples to make it easier. A sole proprietorship could be a small retail store, and many professional organizations of attorneys and accountants are partnerships. Amy: That’s right! And many famous large companies are corporations. David: Look! You can become a shareholder by buying their shares. Amy: Interesting, isn’t it? David: Definitely. a single owner two or more owners _______________ _____________________ shareholders _______________

19 3.Financial reporting standards and convergence in China

20 Vocabulary financial财务的 convergence共通性 harmonization和谐
eg :The company is in deep ~difficulties. convergence共通性 eg:Member states（成员国） were to make significant progress towards economic policy ~. harmonization和谐 eg:The ~ of tax policy and economic conditions is very important.

21 restructure改组，重建 underlying基础的，根本的 framework框架 Vocabulary
eg:If your company ~s, you will just have to survive.自谋生计 underlying基础的，根本的 eg:All these elements play a part, but the ~ problem is deeper. framework框架 eg:The govenment establishes a national policy ~.

22 Vocabulary entity单位，个体，实体 cost成本 state-owned国有的，国营的
eg:The company has been an independent economic ~ since it was established. cost成本 eg:We must reduce the production ~. state-owned国有的，国营的 eg:He is convinced that the bank is a good investment because it is ~.

23 Phrases and Expressions
accounting standard会计准则 engage in从事，参与，进行 economic entity经济主体 matching principle配比原则 going concern 持续经营 materiality principle重要原则 prudence principle谨慎原则

24 Proper Nouns IASC:International Accounting Standards Committee国际会计准则委员会 IASB：International Accounting Standards Board 国际会计准则理事会 IFRSs：International Financial Reporting Standards 国际财务报告准则 CAS：Chinese Accounting Standards 中国会计准则 Chinese Accounting Standards System for Business Enterprises中国企业会计制度

25 International Financial Reporting Standards
IFRS——after 2001 IAS——before 2001 IFRIC——after 2001 SIC——before 2001 Conceputal Framework for the Prepartion and Presentation of Financial Statements—— 2010

26 Background Different countries have different accounting models because of legal and economic conditions. That means an acceptable accounting practice in one country is not necessarily acceptable in another country. This has created the need for a harmonization of accounting standards: a global accounting language for the communication of financial information. In response to this growing need, the International Accounting Standards Committee (IASC) was founded in 1973 and has engaged in internationally recognized standard-setting to achieve this goal. On April 1, 2001, the IASC was restructured into the International Accounting Standards Board (IASB). To make financial statements more understandable, there are some common rules known as International Financial Reporting Standards (IFRSs). All the standards are based on underlying framework such as economic entity, cost, matching, going concern, materiality, prudence, and so on.

27 本句中“because of…”是“由于，因为”的意思。
Chinese Accounting Standards (CAS) are the accounting rules used in Chinese state-owned corporations in mainland China. Since the first Chinese Accounting Standards were issued in 1992, great developments and improvements have been made in the past two decades. The Chinese Accounting Standards System for Business Enterprises is being developed with a view to achieving convergence of those standards with the equivalent IFRSs. Notes 1. Different countries have different accounting models because of legal and economic conditions. 由于法律和经济状况的原因，不同的国家有不同的会计模式。 本句中“because of…”是“由于，因为”的意思。 2. In response to this growing need, … 为应对不断增长的需求，…… 本句中“In response to…”的意思是“对……做出反应”。

28 3.Financial reporting standards and convergence in China
Listen to the passage and decide whether the following statements are true (T) or false (F). 1998年4月 ( ) 1. Different countries have different accounting models because of legal and economic conditions. ( ) 2. The International Accounting Standards Committee (IASC) was founded in 2001. ( ) 3. A global accounting language for the communication of financial information is needed for harmonization. ( ) 4. The first Chinese Accounting Standards were issued in 1985. ( ) 5. On April 1, 2001, the IASC was restructured into the IASB. T F 2001年 国际会计准则理事会 （international accounting standards board） 国际会计准则理事会（ International Accounting Standards Board ，简称IASB）。 IASB的前身是国际会计准则委员会 （International Accounting Standards committee，简称IASC） 在2000年进行全面重组并于2001年初改为国际会计准则理事会。 T F T

29 4.Accounting elements and using the accounting equation

30 Vocabulary fundamental基础的；根本的 fantastic极好的 transaction交易，业务
eg:In three days,she had learned the ~s of accounting. fantastic极好的 eg:Nobody believed the ~ story he made up. transaction交易，业务 eg:A record is kept of all the firm's ~s.

31 Vocabulary asset资产 liability负债 equity权益 unbelievable难以置信的
eg:The bank has ~s of more than $1 billion.十亿 liability负债 eg:Heavy ~ies forced the company into bankruptcy. equity权益 eg:Equity is the ownership interest in the business entity.业主所有权 unbelievable难以置信的 eg:It seems ~ that he has climbed so high in 22 years.

32 Phrases and Expressions
accounting equation会计等式 spend ... doing sth花时间做 remain in balance保持平衡 show sb sth给某人展示

33 4.Accounting elements and using the accounting equation
Ann is talking about her new book with Bill. Work in pairs to complete the dialogue with the right sentences given below and role-play it. a. Total assets should be equal to the sum of liabilities and equity. b. Of course not! c. Sounds unbelievable! d. How was your weekend? e. Accounting equation in balance? f. It was a birthday present. g. Fundamental Accounting?

34 Basic Accountancy 基础会计
Bill: Hi, Ann. (1)________________________________ Ann: Hi, Bill! I spent a nice day reading my new book. (2)__________________________Here it is. Bill: (3) _________________________ A little bit boring? Ann: (4) __________________You know it’s fantastic to find that every transaction affects at least two items in the accounting equation, and the equation remains in balance after each transaction. Bill: Transaction? (5) ______________________________ Ann: It’s true! (6) _______________________________________ __________________ Bill: Every time? (7)____________________ Ann: There are so many unbelievable truths inside! Let me show you more. d. How was your weekend? f. It was a birthday present. g. Fundamental Accounting? b. Of course not! e. Accounting equation in balance? a. Total assets should be equal to the sum of liabilities and equity. c. Sounds unbelievable! Answer

35 5.The accounting profession

36 Vocabulary managerial管理的 summarize汇总 budgeting预算 comprehensive综合的，全面的
eg:She was promoted into a ~ job. summarize汇总 eg:Please ~ and report on the monthly production situation. budgeting预算 eg:The Chairperson addressed the principle of cost control and ~. comprehensive综合的，全面的 eg:They have made a ~ budgeting.全面预算

37 Vocabulary auditing审计 designate认证，认定 accumulate积累，积聚
eg：I have ten years of experience in ~. designate认证，认定 eg:The town has been ~ed a development area.开发区 accumulate积累，积聚 eg:By investing wisely she ~d a fortune.积蓄了一笔财产

38 Phrases and Expressions
be concerned with有关 be essential for必需的 internal auditing内部审计 management advisory管理咨询 tax return税单

39 5.The accounting profession
Read the following passage and do the exercises. Accounting practices are in three main fields—financial accounting, managerial accounting, and tax accounting. Please notice that this does not include not-for-profit accounting. Financial accounting is used to prepare financial statements for people outside the organization. It is the process of summarizing financial data taken from an organization’s accounting records and publishing it in the form of annual reports for the outside users. Managerial accounting is concerned with giving accounting information to managers within organizations, to provide them with the basis to make business decisions. Cost accounting is a central element of managerial accounting and budgeting is essential for management. Tax accounting is used to prepare tax returns and tax planning.

40 Accountants can also be categorized based on the kinds of organizations they work in:
Private accountants normally work for one employer and offer services. They are internal accountants reporting to the managers of the entity. Private accounting involves preparing financial reports, budgets, and a comprehensive analysis of financial operations for a particular company. Public accountants work for many clients, who may be corporations, governments, nonprofits, or individuals, and offer auditing, management advisory, and tax services. The public accountant should be designated. Government accountants audit tax returns and accumulate financial information for government agencies.

41 Translation 会计职业 会计实务有三个主要领域：财务会计，管理会计和税务会计。请注意非营利会计不包括在内。 财务会计用来为组织外的人们编制财务报表。它是这样一个过程，即汇总从组织的会计记录中获取的财务数据，且以年报的形式公布给外部使用者。管理会计是有关给组织内的经理们的会计信息，为他们提供制定经营决策的基础。成本会计是管理会计的中心要素而预算是管理的必需。税务会计用来编制税单和纳税计划。 会计人员可按他们工作的组织不同做以下分类： 企业会计通常为一位雇主工作并提供服务。他们是内部会计人员向实体的经理们报告。企业会计包括为某家公司编制财务报告，预算以及财务经营的综合分析等。 注册会计为许多客户服务，这些客户可以是公司、政府、非盈利组织或个人等，为客户提供审计、管理咨询和税务服务。注册会计师需要经过认证。 政府会计为政府机构审核税单以及汇集财务信息。

42 Activities performed by accountants
A. Complete the following graph according to the passage. Activities performed by accountants (1) -statement preparation -statement analysis (2) -cost accounting - budgeting (3) -tax return preparation -tax planning managerial accounting tax accounting Financial accounting _______________ _______________ _______________

43 B. Different positions have different responsibilities
B. Different positions have different responsibilities. Complete the table according to the passage. Positions Responsibilities private accountants public accountants Government accountants ________________________________________________________________________________________________________________________________________________________________________ reporting to the managers of the entity; preparing financial reports, budgets, and a comprehensive analysis of financial operations for a particular company offer auditing, management advisory, and tax services ______________________________________________________________________________________________ ______________________________________________________________________________________________ audit tax returns and accumulate financial information for government agencies

44 7.Project Analyze these transactions by using the accounting equation.
1.The owner invested $30,000 to start a consulting firm. 2.She purchased $26,000 of furniture, $20,000 with cash, and the remainder by issuing a note. 3.She purchased supplies on account, $3,600. 4.She provided consulting services for $3,800 in total, collected $3,000 in cash, and billed the balance. 5.Collected cash from transaction 4. 6.Provided rental service for $300 cash. 7.Paid rent expense of $1,000 cash. 8.Paid salary of $700 cash. 9.Withdrew $600 cash for personal use. 10.Paid $3,400 cash for transaction 3.

45 Hints: The headlines and model are provided below.
Cash AR Supplies Furniture = AP NP Capital 1 +30,000

46 Answer:

47 1.强调此处是本课重点。要求学生理解会计等式的意义和用法。
Teaching Tips 1.强调此处是本课重点。要求学生理解会计等式的意义和用法。 2.解释AR (Accounts Receivable), AP (Accounts Payable), NP (Notes Payable)。 3.左边的资产等于右边的负债和权益。 4.可以将资本部分的变化列出文字说明，比如，投资、营业收入、费用、提款等。 5.在掌握会计等式的基础上，可以练习下一题中的报表。

48 6.Professional ethics in accounting

49 Vocabulary ethics伦理，道德 misdeed不端行为 evasion逃避，规避 fraud欺骗，欺诈 threat威胁
eg:The ~ of his profession do not permit him to do so. misdeed不端行为 eg:Corporate ~ often hit the headlines. evasion逃避，规避 eg:He and his parnters were accused of tax ~. fraud欺骗，欺诈 eg:The three most common forms of crime are theft ,~ and murder. threat威胁 eg:The financial crisis is a ~ to our buiness.

50 Vocabulary integrity诚信 diassociate分离(from) competence胜任
eg:~ is the foundation of the accounting profession. diassociate分离(from) eg:The accountant can't ~ himself from the material misleading information. competence胜任 eg:The young CFO showed exceptional ~.

51 Vocabulary confidential机密的 objectivity客观 relevant相关的(to) accuracy精确性
eg:Our budget is ~. objectivity客观 eg:~ is a principle in accounting. relevant相关的(to) eg:These facts are ~ to the managment decision. accuracy精确性 eg:He can predict operating performance with great ~.

52 Phrases and Expressions
professional ethics职业道德 insider trading内幕交易 a host of大量的 as well as和...一样 refrain from避免 be obligated to有义务，有责任 rely on依靠

53 6.Professional ethics in accounting
Read the following passage and do the exercises. Professional ethics provide a framework for practice. In recent years, there has been widespread interest in accounting ethics, due partly to media coverage of events involving a host of misdeeds, such as insider trading, tax evasion, audit failure, and fraud. Reports of unethical behavior are a threat to public confidence in the accounting profession. Some basic ethical standards include: 1、Integrity Accountants have a responsibility to report favorable as well as unfavorable information. Integrity implies that accountants should not take unfair advantage of information and should act in the interests not only of their clients but also other indirect users. Accountants should also disassociate themselves from misleading information.

54 2、 Competence Accountants have a duty to perform their professional duties according to high standards and to ensure that they stay current with changes in the profession. Accountants have an ethical obligation to maintain both technical competence and moral competence. 3、Confidentiality The work of the accountant regularly involves dealing with confidential files about the personal and business affairs of their clients. Accountants have a duty to refrain from disclosing confidential information unless legally obligated to do so. 4、Objectivity Accountants must fully disclose all relevant information that assists users to understand financial reports. Accountants, therefore, are obligated to provide information that is objective so that users can rely on its accuracy when making investment and credit decisions.

55 Translation 会计职业道德 职业道德给实务提供了框架。近些年，一定程度上由于对充斥着大量不端行为事件的媒体报道，诸如内部交易、逃税、审计失败以及欺诈等，使得大家对会计道德有着广泛的关注。这些不道德行为的报道威胁着人们对会计职业的信心。 一些基础的道德标准包括： -诚信 会计人员有责任报告有利和不利的信息。诚信意味着会计人员不得获取信息的不当利得，同时不仅代表他们客户的利益，还要代表其他间接使用者。会计人员还必须同误导信息隔离。 -胜任 会计人员有责任按照高标准履行他们的职责，并确保与时俱进。他们有义务保持技术和道义两方面的胜任能力。 -保密 会计人员的工作经常涉及处理客户个人或企业事务的机密文件。因此会计人员有责任避免披露机密信息，除非法律上有义务这么做。 -客观 会计人员必须充分提供所有相关信息来帮助使用者理解财务报告。所以，会计人员有责任提供客观的信息以便使用者能够赖于它的准确度来制定投资和信贷决策。

56 A. Match the English expressions with their Chinese versions.
( ) 1. insider trading a. 误导信息 ( ) 2. tax evasion b. 职业道德 ( ) 3. audit failure c. 机密文件 ( ) 4. professional ethics d. 内幕交易 ( ) 5. misleading information e. 审计失败 ( ) 6. confidential files f. 逃税 d f e b a c Answer

57 integrity and confidentiality
B. Read the following example and find out what professional ethics Zhao Li violated. Zhao Li is an accountant and works for Xuedong Electric Corporation. She is considered an excellent worker for her hard work and professional skills. Her husband is CEO of a private electronics company. At her husband’s request, she gave him copies of her company’s new product development plan and related accounting materials, which led to a big loss for her company. Answer integrity and confidentiality

58 Notes 1. Reports of unethical behavior are a threat to public confidence in the accounting profession. 注意threat 后接to。 2. Accountants should also disassociate themselves from misleading information. 注意disassociate 后接 from。 3. audit failure, 即审计失败，是指审计人员未能发现财务报表及财政、财务收支中的虚假不实，未能在企事业单位经营活动中通过系统、规范审计方法评价和改善组织的风险管理、组织经营而出具或披露了审计意见，由此引起审计争议，导致审计形象的破坏。

59 8.Further reading Read the passage. Decide the data flows following the model statements. Financial statements are the final product of the accounting process. They should be presented in a good manner and be used to fulfill the objective of accounting—to provide information for decision making. Four financial statements are prepared by a proprietorship: Income statement (also known as the profit and loss account), Statement of changes in equity (also known as the capital statement, statement of retained earnings will be used for simplification), Balance sheet, Statement of cash flows. The income statement lists income and expenses and shows net profit or net loss for a period of time, such as a month or a year. It can be determined by the following formula: Net profit = Income － Expenses Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants. The definition of income encompasses both revenue and gains, and revenue arises in the course of ordinary activities of an enterprise.

60 Expenses are decreases in economic benefits during an accounting period in the form of outflows or depletions of assets or incurrence of liabilities that result in decreases in equity, other than those relating to distributions to equity participants. The statement of changes in equity shows the changes take place in the owner’s equity during a period of time from net profit or net loss, withdrawals/dividends, and owner’s investment for a business. For corporation net profit is added to the opening accumulated profits balance to obtain the closing balance. This closing balance is then used in the shareholders’ equity section on a corporate balance sheet.

61 The balance sheet lists all assets, liabilities, and owner’s equity as of a specific date of a business entity. The balance sheet shows that assets equal the sum of liabilities and owner’s equity. Assets are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events. Examples of tangible assets include cash, accounts receivable, merchandise inventory, supplies, equipment, buildings, and machines. Examples of intangible assets are patents, trademarks, and copyrights. There are two sources of assets. One source is liabilities and the other is equity. Liabilities are 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. Examples of liabilities include accounts payable, notes payable, salaries payable, taxes payable, interest payable, and bonds payable.

62 Equity (or Owner’s equity for a sole proprietorship and also simply capital, Partners’ equity for a partnership, Shareholders’ equity for a corporation) is a residual amount. Equity is the residual interest in the assets that remains after deducting its liabilities. In a business enterprise, the equity is the ownership interest. Owner’s equity represents the claims of owner(s) after creditors make claims from total assets. Owner’s equity is sometimes referred to as net assets. The statement of cash flows reports cash receipts and payments as well as cash inflows and outflows in three groups: operating activities, investing activities, and financing activities.

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65 9.Surfing the Internet Accountancy is one of the fastest growing professions in the modern business world. Search the Internet to find information about the requirements and responsibilities of a staff accountant.

66 Reference Answer Requirements: -Bachelor’s Degree in Accounting, Finance or Economics is preferred -Minimum of 3 years of Accounting / Financial Analyst experience -Must have Budget Planning experience -Must have a good basic understanding of Prepaid Amortization schedules and Depreciation Calculations -Must have good general accounting background and ability to read and analyze financial statements with a good understanding of A/R and A/P -Must be proficient in Microsoft Excel -Any Manufacturing (basic Cost Accounting) experience is a plus but not required Responsibilities: This position entails serving as a Financial Analyst for branch location of large oilfield services company. There is EXCELLENT room for promotion and long term growth with this position. Great benefits and very casual work environment with this extremely stable company.

67 10.Enjoying yourself Enjoy the following picture with your partners.
“Wait a minute! Aren’t you the accountant I fired last year?”

68 21世纪行业英语系列教程 会计英语 Thank you! 上海交通大学出版社