《[其它]accounting equation.ppt》由会员分享，可在线阅读，更多相关《[其它]accounting equation.ppt（43页珍藏版）》请在三一文库上搜索。
1、Accounting Equation,Unit Twenty-Five,The accounting equation provides a concept for financial accounting and is the basis for all of the principles and procedures. It is stated as follows: Assets = Liabilities + Capital or: Assets - Liabilities = Capital,accounting equation 会计等式 financial accounting
2、 财务会计业务,It is important to remember that the accounting equation must always remain in balancethe two sides must always be equal.,remain in balance 保持平衡,The most basic tool of the accountant is the accounting equation. This equation presents the assets of the business and the claims to those assets.
3、,accountant 会计师 claims to those assets 资产的权益,Assets are the economic resources of a business that are expected to be of benefit in the future.,economic resources 经济来源,Cash, office supplies, merchandise, furniture and fixtures, land, and buildings are examples. Claims to those assets come from two so
4、urces.,office supplies 办公用品 furniture and fixtures 办公设备 Claims to those assets come from two sources. 资产的权益来自两个方面:,Liabilities are outsider claims, which are economic obligations, debts payable to outside parties. These outside parties are called creditors.,outsider claims 外部权益 economic obligations
5、经济上的债务 debts payable 应付债务,For example, a creditor who has loaned money to a business has a claima legal rightto a part of the assets until the business pays the debt.,例如, 借钱给某企业的债权人对其部分资产有要求权即合法的权利企业偿还债务后, 其权益终止。,Insider claims are called owners equity or capital. These are the claims held by the ow
6、ners of the business.,insider claims 内部权益 owners equity 业主权益（资本）,An owner has a claim to the entitys assets because he or she has invested in the business. Owners equity is measured by subtracting liabilities from assets.,entity单位，经营实体,The accounting equation shows the relationship among assets, lia
7、bilities and owners equity. Assets appear on the left-hand side of the equation.,ASSETS = LIABILITIES + OWNERS EQUITY,The legal and economic claims against the assetsthe liabilities and owners equityappear on the right-hand side of the equation:,ASSETS = LIABILITIES + OWNERS EQUITY legal and economi
8、c claims (against or to )法律和经济上的权益,Lets take a closer look at the elements that make up the accounting equation. Suppose you run a business that supplies meat to fast-food restaurants.,element 要素,Some customers may pay you in cash when you deliver the meat. Cash is an asset. Other customers may buy
9、on credit and promise to pay you within certain time after delivery.,on credit 赊账 after delivery交货后,This promise is also an asset because it is an economic resource that will benefit you in the future when you receive cash from the customer.,这种付款承诺也是资产，因为将来你从客户处收现金时，你可以从中受益的经济来源。,The meat supplier c
10、alls this promise an account receivable. If the promise that entitles you to receive cash in the future is formally written out, it is called a note receivable. All receivables are assets.,account receivable 应收账款 entitle sb. to do给某人做权利 note receivable应收票据 receivables 应收,The fast-food restaurants pr
11、omise to pay you for the meat it purchases on credit creates a debt for the restaurant. This liability is an account payable of the restaurant, which means that the debt is not formally written out.,account payable 应付账,Instead the reputation and the credit standing of the restaurant and its owner ba
12、ck it up. A written promise of future payment is called a note payable. All payables are liabilities.,credit standing 信用状况， 资信 back it up 支持 note payable 应付票据 payables 应付,Owners equity is the amount of the assets that remains after subtracting liabilities. We often write the accounting equation to s
13、how that the owners claim to business assets is a residual: ASSETS - LIABILITIES = OWNERS EQUITY,residual 剩余的部分,On the balance sheet, assets and liabilities are classified as either current or long-term to indicate their relative liquidity. Liquidity is a measure of how quickly an item may be conver
14、ted to cash.,balance sheet 资产负债表 relative liquidity 相对的流动性 convert to cash 把变现,Therefore, cash is the most liquid asset. The account receivable is a relatively liquid asset because the business expects to collect the amount in cash in the near future.,the most liquid asset 流动性最大的资产，最容易变现的资产,Supplies
15、 are more liquid than accounts receivable, and furniture and buildings are even less so. Users of financial statements are interested in liquidity because business difficulties often arise owing to a shortage of cash.,financial statements 财务报表 liquidity 流动性，流动资金,How quickly can the business convert
16、an asset to cash and pay a debt? How soon must a liability be paid? These are questions of liquidity. Balance sheets list assets and liabilities in the order of their relative liquidity.,in the order of their relative liquidity 按其流动性,Current assets are assets that are expected to be converted to cas
17、h, sold, or consumed during the next 12 months or within the businesss normal operating cycle if longer than a year.,current assets 流动资产 operating cycle 经营周期,The operating cycle is the time span during which (1) cash is used to acquire goods and services, and (2) these goods and services are sold to
18、 customers, who in turn pay for their purchases in cash.,time span 期间,For most businesses, the operating cycle is a few months. A few types of business have operating cycles longer than a year.,Cash, Accounts Receivable, Notes Receivable due within a year or less are current assets. Merchandise such
19、 as Sears, Penneys and K Mart is an additional current asset. Inventory shows the cost of goods that are held for sale to customers.,due 到期的； 应付的 inventory 库存，存货,Long-term assets are all assets other than current assets. They are not held for sale, but rather they are used to operate the business.,l
20、ong-term assets 长期资产,One category of long-term assets is plant assets, or fixed assets. Land, buildings, furniture and fixtures, and equipment are examples of plant assets.,plant assets 固定资产 fixed assets 固定资产,Financial statement users such as creditors are interested in the due dates of an entitys l
21、iabilities. The sooner a liability must be paid, the more current it is.,due dates 到期日,Liabilities that must be paid on the earliest future date create the greatest strain on cash. Therefore, the balance sheet lists liabilities in the order in which they are due.,strain 紧张,Knowing how many of a busi
22、nesss liabilities are current and how many are long-term helps creditors assess the likelihood of collecting from the entity. Balance sheets usually have at least two liability classifications, current liabilities and long-tern liabilities.,likelihood of collecting 收到款的可能性 current liabilities 流动负债，短
23、期负债,Current liabilities are debts that are due to be paid within one year or within the entitys operating cycle. Notes Payable due within one year, Salary Payable, Unearned Revenue, and Interest Payable owed on notes payable are current liabilities.,salary payable 应付薪水 unearned revenue 通过投资所得的收入 int
24、erest payable 应付利息,All liabilities that are not current are classified as long-term liabilities. Some notes payable are paid in installments, with the first installment due within one year, the second installment due the second year, and so on. In this case, the first installment would be a current
25、liability and the remainder a long-term liability.,Translation,长期负债 应付薪水 应付利息 长期资产 固定资产 流动负债 会计等式 财务会计业务 应付债务 业主权益,11) 财务报表 12) 流动资产 13) 赊账 14) 应收账款 15) 应收票据 16) 应付票据 17) 资产负债表 18) 应付账 19) 信用状况 20) 经营周期,long-term liabilities salary payable interest payable long-term assets fixed assets current liabi
26、lities accounting equation financial accounting debts payable owners equity,financial statements current assets on credit account receivable note receivable note payable balance sheet account payable credit standing operating cycle,1) The accounting equation provides a concept for financial accounti
27、ng and is the basis for all of the principles and procedures of _.,A. accounting B. accountant C. operating D. marketing,A,2) Which of the following statements is NOT correct? _.,A. Assets appear on the left-hand side of the accounting equation. B. Liabilities appear on the right-hand side of the ac
28、counting equation. C. Liabilities and owners equity appear on the right-hand side of the accounting equation. D. The legal and economic claims against the assets appear on the left-hand side of the accounting equation.,D,3) Users of financial statements are interested in liquidity because _.,A. busi
29、nesses appear to need cash flows in transactions B. difficulties often make businesses short of cash C. a shortage of liquidity can affect the operation of a business D. businesses often have difficulties owing to a shortage of the statement,C,4) A written promise of future payment is called a _, an
30、d a promise written out entitles you to receive cash in the future is called a _.,note payable / note payable note payable / note receivable note receivable / note payable note receivable / note receivable,note payable,note receivable,5) Liabilities are outsider claims, which are debts payable to ou
31、tside parties. These outside parties are called _.,A. creditors B. debtors C. owners D. payers,A,6) Assets are the economic resources of a business that are expected to be of benefit in the future. _ are examples.,A. Cash, office supplies, accounts payable, furniture and fixtures, land, and building
32、s B. Cash, office supplies, merchandise, interest payable, land, and buildings C. Cash, notes receivable, merchandise, furniture and fixtures, land, and buildings D. Cash, office supplies, merchandise, furniture and fixtures, land, and ground rent payable,C,7) Claims to those assets come from two sources: _.,outside claims and creditors inside claims and owners equity legal and economic claims against the assets outside claims and inside claims,D,