CPA会计英语教学课件8

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1、,,单击此处编辑母版标题样式,,单击此处编辑母版文本样式,,第二级,,第三级,,第四级,,第五级,,*,Accounting English,*,Accounting English,Lesson one,,,Lesson Eight,Adjusting Procedures,,Accounting English,Steps in the accounting cycle,Analyze transactions from source documents,Record in journals,Post to general ledger accounts,Adjust the genera

2、l ledger accounts,Prepare financial statements,Close temporary accounts,Accounting English,Lesson Eight Adjusting Procedures,,,,Words and Phrases,1,,,presentation,2,,,Exercises,3,,,Summary,4,Accounting English,,Part 1 Words and Phrases,,,,Words to Drill,Apportion,,Accrue,,Expire,,Align,Terms,,Acc

3、rual basis accounting,,Cash basis accounting,,Periodic inventory system,,Perpetual inventory system,,Accounting English,Part 1 Words and Phrases,Apportion,----,v.t.,divide; distribute; give as a share,,I have apportioned you different duties each day of the week.,,This sum of money is to be apporti

4、oned among the six boys.,,Apportioning recorded costs to periods benefited.,,Apportioning recorded revenue to periods in which it is earned.,,Accounting English,Part 1 Words and Phrases,Accrue, v.t., v.i. come as a natural growth or development.,,If you keep your money in the Savings Bank, inter

5、est accrued.,,Accrued interest is interest due, but not yet paid or received.,,Accruing unrecorded expenses,,Accruing unrecorded revenue,Accounting English,Part 1 Words and Phrases,Expire, v.i. (of a period of time )come to an end,,When does your driving license expire?,,At the end of each accou

6、nting period, the estimated portion of the outlay that has expired during the period or that has benefited the period must be transferred from an asset account to an expense account.,Accounting English,Part 1 Words and Phrases,Align, v.t. bring, come, into agreement, close cooperation etc (with

7、),,Adjusting entries made to align revenue and expense with the appropriate periods consist of four types:,,(1),Apportioning recorded costs .,,(2) Apportioning recorded revenue.,,(3) Accruing unrecorded expenses.,,(4) Accruing unrecorded revenue.,,Accounting English,Terms --Accounting Basis,,,,,,,,,

8、,,1,,accrual basis accounting,,,,,,,,,,2,,cash,,basis accounting,Accounting English,Terms --Accounting Basis,Text,,,,,,,,,Accounting,,system,,Accrual basis,Cash basis,Text,Revenues,are recognized when cash is collected;,,Expenses,are recognized when cash is paid for the goods and services.,,Revenue

9、s,are recognized when earned;,,Expenses,are recognized when goods and services are used.,,Accounting English,Terms,–,Inventory System,,,,,,,,,,1,,Periodic inventory system,,,,,,,,,,,2,,Perpetual inventory system,Accounting English,Terms,–,Inventory Accounting System,Text,,,,,,,,,Inventory,,system,,P

10、eriodic,Perpetual,Text,Maintain a,continuous record,in the inventory account, recording inventory when items are sold.,,Purchases,are recorded as they occur, but the ending balance of inventory and the cost of good sold are not determined until the end of the period after counting inventory.,,Accoun

11、ting English,Part 2 Presentation,,?,a.,Why is the adjusting step of the accounting cycle necessary?,,b.,When does the adjusting step occur?,,c.,How to journalize the adjusting entries?,why when how,Accounting English,Based upon accrual accounting,?,Why is the adjusting step of the accounting

12、 cycle necessary?,Accounting English,Part 2 Presentation ---Purpose of adjusting (Why),In order to achieve proper matching of costs and expenses with the relative revenue earned to determine a meaningful net income figure for each accounting period .,P64,Accounting English,Capture,transaction,data o

13、n source,documents,Journalize,transaction,,Post,transaction,to the ledger,,Prepare trial,balance,,Journalize and,post adjusting,entries,,Prepare,financial,statements,,Prepare,adjusted trial,balance,,Journalize and,post closing,entries,,Prepare,post-closing,trial balance,,,Accounting Process,Part 2 P

14、resentation --- When,Accounting English,Part 2 Presentation ---Four Types of Adjusting Entries,,,1,,,2,,Apportioning recorded costs,,,,Apportioning recorded revenue,,Accruing unrecorded expenses,,,Accruing unrecorded revenue,,,,3,,,4,Accounting English,Type 1---,Apportioning recorded costs,Apportion

15、ing recorded costs,,Expense,,,Assets,,,Accounting English,Type 1---,Apportioning recorded costs,,1a.,,Prepaid rent expired, $580.,Rent Expense 580,,Prepaid rent 580,,Accounting English,Type 1---,Apportioning recorded costs,,1b.,,Depreciation for the month, $700.,Depreciation

16、 Expense 700,,Accumulated Depreciation 700,,Accounting English,Type 1---,Apportioning recorded costs,,1c.,,Supplies used during the month, $ 880.,Supplies Expense 880,,Supplies on Hand 880,,Accounting English,Type 2---,Apportioning recorded revenue,Apportioning rec

17、orded revenue,,revenue,,,liability,,,Accounting English,2.,,Unearned service revenue earned, $900.,,Unearned Service Revenue 900,,Service Revenue 900,Type 2---,Apportioning recorded revenue,Accounting English,3a.,,Employee salaries owed for two days of a five-day workweek; weekl

18、y payroll, $9,000.,,Salary Expense 3,600,,Accrued Salary Payable 3,600,,Type 3---,Accruing unrecorded expenses,Accounting English,3b.,,Accrued advertising expense at the end of this month, $1,000.,,Advertising Expense 1,000,,Accounts Payable 1,000,,Type

19、 3---,Accruing unrecorded expenses,Accounting English,4.,,Interest revenue accrued, $3,900.,,Interest Receivable 3,900,,Interest Revenue 3,900,Type 4---,Accruing unrecorded revenue,Accounting English,Part 2 Presentation,---,Adjust Merchandise Inventory,How to adjust

20、merchandise inventory?,To transfer beginning inventory to Income Summary.,,To record ending inventory.,?,Accounting English,Part 2 Presentation,---,Adjust Merchandise Inventory,,5a. To transfer beginning inventory $17,000 to Income Summary.,,Income Summary 17,000,,Inventory

21、 17,000,,Accounting English,Part 2 Presentation,---,Adjust Merchandise Inventory,,5b.,,To record ending inventory $15,000 .,,,Inventory 15,000,,Income Summary 15,000,,,,Accounting English,Many of business transaction affect the net income of more than one perio

22、d, therefore, it is often necessary to adjust some account balances at the end of each accounting period i,n order to achieve proper matching of costs and expenses with the relative revenue earned to determine a meaningful net income figure fore each accounting period.,Part 3 Exercises,a.,Why is t

23、he adjusting step of the accounting cycle necessary,,?,Accounting English,It occurs after the journals have been posted and a trial balance of ledger accounts has been taken, but before financial statements are prepared.,Part 3 Exercises,,b.,When does the adjusting step occur?,,Accounting English,U

24、nder accrual basis: revenues are recognized when earned; expenses are recognized when goods and services are used.,,Under cash basis: revenues are recognized when cash is collected; expenses are recognized when cash is paid for the goods and services.,Part 3 Exercises,c. How do the accrual basis an

25、d cash basis of accounting differ?,Accounting English,,The four types of adjustments are:,,(1) Apportioning recorded costs to periods benefited.,,(2) Apportioning recorded revenue to periods in which it is earned.,,(3) Accruing unrecorded expenses,,(4) Accruing unrecorded revenue,,Part 3 Exercises,

26、d.,What four different types of adjustments are frequently needed at the end of an accounting period?,,Accounting English,(1) To transfer beginning inventory to Income Summary account.,,(2) To record ending inventory.,Part 3 Exercises,e.,How to describe the adjusting procedure for merchandise inven

27、tory records under a periodic inventory system?,,Accounting English,,Simmons Inc., whose accounting year ends on June 30, had the following balances in its ledger at June 30 of the current year: Inventory,$,20,000; Prepaid Insurance,$,1,200; Office Supplies on hand,$,500,,,Data for the year-end adj

28、ustments are as follows:,,Inventory, June 30 $16,800,,Prepaid Insurance, June 30 400,,Office Supplies on Hand, June 30 320,,Depreciation Expense fo

29、r year, Furniture and Fixtures 700,,Depreciation Expense for year, Delivery Equipment 900,,Accrued Sales Salaries, June 30 300,,Accrued Office Salaries, June 30 200,,,,Require :,,Make the necessary

30、adjusting entries in the general journal.,,,Part 3 Exercises,Accounting English,Part 4 Summary,,a.,It is necessary to adjust some accounts balances,in order to achieve proper matching of costs and expenses with the relative revenue earned to determine a meaningful net income figure for each accoun

31、ting period .,,b.,The adjusting step,occurs after the journals have been posted and a trial balance of ledger accounts has been taken, but before financial statements are prepared.,why when,Accounting English,Part 4 Summary,,c.,,The four different types of adjustments frequently needed at the end

32、 of an accounting period are:,,1.Apportioning recorded costs to periods benefited.,,2.Apportioning recorded revenue to periods in which it is earned.,,3.Accruing unrecorded expenses,,4.Accruing unrecorded revenue,,d.,,The adjusting procedure for merchandise inventory records under a periodic inventory system are:,,1.To transfer beginning inventory to Income Summary account.,,2.To record ending inventory.,,how,Accounting English,,Homework,,P69. 6,Thank You!,