会计学原理英文名词解释

《会计学原理》名词解释

Accounting: is an information and measurement system that identifies records and communicates relevant reliable and comparable information about an organization’s business activities.(P2)

Managerial accounting: is the area of accounting that serves the decision-marking needs of internal users.(P4)

Events: refer to happenings that affect an entity’s accounting equation and can be reliably measured.(P11)

External user: of accounting information are not directly involved in running the organization.(P3)

Internal user: of accounting information are those directly efficiency and effectiveness of an organization.(P4)

Ethics: are beliefs that distinguish right from wrong. They are accepted standards of good and bad behavior.(P5)

Cost principle: means that accounting information is based on actual cost.(P7)

Revenue recognition principle: provides guidance on when a company must recognize revenue.(P7)

Matching principle: prescribes that a company must records its expenses incurred to generate the revenue reported.(P7)

Going-concerning assumption: means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.(P7)

Audit: through review of an organization’s accounting records and accounting reports and return make by the analysis.

Net income: amount a business earns after paying all expenses and costs associated with its sales and revenues.(P15)

Income statement: describes a company’s revenues and expenses along with the resulting net income or loss over a period time due to earnings activities.(P14)

Statement of owner’s equity: explains changes in equity from net income (or loss) and from any owner investments and withdrawals over a period of time.(P14)

Balance sheet: describes a company’s financial position (types and amounts of assets liabilities and equity) at a point in time.(P15)

Statement of cash flows: identifies cash inflows (receipts) and cash outflows

(payments) over a period of time.(P15)

Owner’s withdrawals account: the account used to record the transfers of assets from a business to its owner. (P31)

Liabilities: is what a company owes its no owners (creditors) in future payments, products, or services.(P10)

Accounting equation: Assets=Liabilities + Equity.(P10)

Accrued expense: refer to costs that are incurred in a period but are both unpaid and unrecorded.(P66)

Operating cycle: is the time span from when cash is used to acquire goods and services until cash is received from the sale of goods and services. (P96)

Shareholders (investors): are the owners of a corporation. (P3)

Current radio: a ratio used to help evaluate a company’s ability to pay its debts in the near future.

Merchandise inventory: refers to products that a company owns and intends to sell.(P113)

Cash discount: reduction in a receivable or payable if it is paid within the discount period. sellers can grant a cash discount to discourage buyers to pay

earlier(P137)

Gross profit: also called Gross margin, which equals net sales cost of goods sold.(P137)

Credit period: the amount of time allowed before full payment is due.(P137)

Acid-test ratio: a ratio used to assets a company’s ability to pay its current liabilities; defined by current liabilities.

Selling expense: include the expenses of promoting sales by displaying and advertising merchandise, making sales, and delivering goods to customers.(P124)

General and administrative expense: support a company’s overall operations and include expenses related to accounting, human resource management, and financial management.(P124)

Time period assumption: presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods.(P7)

Account receivable: are held by a seller and decreased by customers to sellers.(P29)

Prepaid account (also called prepaid expenses): are assets that represent prepayments of future expenses (not current expenses). (P29)

Unearned revenue: refers to a liability that is settled in the future when a company delivers its products or services.(P30)

Accrued liabilities: is the company’s debt owed. For example, salaries payable, taxes payable, and interest payable and so on.(P31)

Purchase discount: purchaser’s description of a cash discount received from a supplier of goods.(P137)

Sales discount: seller’s description of a cash discount granted to buyers in return for early payment.(P137)

Trade discount: reduction below list or catalog price hat is negotiated in setting the price of goods.(P137)

FOB shipping point (FOB factory): means the buyer accepts ownership when the goods depart the seller’s place of business.(P117)

FOB destination: means ownership of goods transfers to the buyer when the goods arrive at the buyer’s place of business. (P117)

Credit terms: for a purchase include the amounts and timing of payments from a buy to a seller.(P114)

Current assets: are cash and other resources that are expected to be sold, collect, or used within one year or the company’s operating cycle, whichever is

longer.(P97)

Plant assets: refers to long-term tangible assets used to produce and sell products and services.(P98)

Long-term investment: notes receivable and investments in stocks and bonds are long-term assets when they are expected to be held for more than the longer of one year or the operating cycle.(P98)

Intangible assets: are long-term resources that benefit business operations, usually lack physical form, and have uncertain benefits. (P98)

Current liabilities: are obligations due to be paid or settled within one year or the operating cycle, whichever is longer.(P98)

Long-term liabilities: are obligations not due within one year or the operating cycle, whichever is longer.(P98)

Accounting cycle: refers to the steps in preparing financial statements.(P95)

Temporary (or nominal) accounts: accumulate data related to one accounting period.(P91)

Permanent (or real) accounts: report on activities related to one or more future accounting periods.(P91)