大学一年级下学期会计学原理-会计学原理名词解释

名词解释

1.Accounting: An information and measurement system that identifies, records, and municates

relevant, reliable, and parable information about an organization’s business activities.(P2)

2.Double-entry bookkeeping: each transaction affect, and are recorded in, at least two accounts. It also

means the total amount debited must equal the total amount credited for each transaction.(P32) 3.Business entity assumption: a business is accounted for separately from other business entities,

including its owner.(P7)

4.Going-concern assumption: accounting information reflects a presumption that the business will

continue operating instead of being closed or sold.(P7)

5.Moary unit assumption: we can express transactions and events in moary, or money, units.(P7)

6.Time period assumption: the life of pany can be divided into time periods, such as month and years,

and that useful reports can be prepared for those periods.(P7)

7.Revenue recognition principle: provides guidance on when a pany must recognize revenue.

(1.Revenue is recognized when earned. 2. Proceeds from selling products and services need not be in

cash. 3. revenue is measured by the cash received plus the cash value of any other items received.) (P7)

8.Matching principle: a pany must record its expenses incurred to generate the revenue reported. (P7)

9.Full-disclosure principle: a pany to report the details behind financial statements that would impact

users’ decisions.(P7)

10.Consistency concept: a pany use the same accounting methods period after period so that financial

statements are parable across periods-----the only exception is when a change from one method to another will improver its financial statements.(P152)

11.Conservatism constraint: the use of the less optimistic amoun t when more than one estimate of the

amount to be received or paid exists and these estimates are about equally likely.(P153)

12.Materiality constraint: an amount can be ignored if its effect on the financial statements is

unimportant to users’ business decisions.(P232)

13.Asset: resources owned or controlled by a pany and that have expected future benefits.(P29)

14.Current Asset: cash and other resources that are expected to be sold, collected or used within one

year or the pany’s operating cycle, whichever is longer(P97)

15.Liability: a probable future payment of assets or services that a pany is presently obligated to make

as a result of past transactions or events. (P281)

16.Current liability: also called short-term liabilities, are obligations due within one year or the pany’s

cycle, whichever is longer.(P282)

17.Long-term liability: a pany’s obligations not expected to be paid within the longer of one year or the

pany’s operating cycle.(P282)

18.Equity: the owner’s claim on a pany’s assets. (P31)

19.Retained Earning: the cumulative ine (and loss) not distributed as dividends to its

stockholders.(P348)

20.Gross Profit: also called gross margin, which equals sales less cost of goods sold.(P113)

sales = Sales – Sales discounts – Sales returned and allowances

简答

1.Steps involved in Accounting cycle (P95)

Step 1 analyze transactions

Step 2 Journalize

Step 3 post

Step 4 prepare unadjusted trial balance

Step 5 adjust

Step 6 prepare adjusted trial balance

Step 7 prepare statements

Step 8 close

Step 9 prepare post-closing trail balance

(step 10 reverse)

2.Introduce basic financial statement(P14)

1.ine statement——describes a pany’s revenues and expenses along with the resulting ine or loss

over a period of time due to earning activities.

2.statement of owner’s equity——explains changes in equity from ine ( or loss) and from any

owner investments and withdrawals over a period of time.

3.balance sheet——describes a pany’s financial position (types and amounts of assets, liabilities

and equity) at a point of time.

3.Accrual basis VS cash basis (P60)

Accrual basis accounting uses the adjusting process to recognize revenues when earned and expenses when incurred ( matched with revenues) .Matching principle

Cash basis accounting recognizes revenues when cash is received and records expenses when cash is paid.

4.Principles of internal control (P202)

1.Establish responsibilities

2.maintain adequate records

3.separate recordkeeping from custody of assets

4.divide responsibility for related transactions

5.perform regular and independent reviews

5.Principles of cash control (P205)

1.handling cash is separate from recordkeeping of cash

2.cash receipts are promptly deposited in a bank

3.cash disbursements are made by check..

6.Capital expenditures VS revenue expenditures (P252)

Capital expenditures are additional costs of plant assets that provide benefits extending beyond the current period. They are debited to asset accounts and reported on the balance sheet. Capital expenditures increase or improve the type or amount of service an asset provides.

Revenue expenditures are additional costs of plant assets that do not materially increase the asset’s life or productive capabilities. They are recorded as expenses and deducted from revenues in the current period’s ine statement.

7.advantages and disadvantages of corporation (P345)

Advantages: 1.separate legal entity

2. limited liability of stockholders

3. transferable ownership rights

4. continuous life

5. lack of mutual agency for stockholders

6. ease of capital accumulation

Disadvantages: 1. government regulation

2.corporate taxation

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