Unit 1 Accounting：The Language of Business
Accounting is often called ―the language of business‖. The acceleration of chang in our society has contributed to increasing complexities in this ―language‖, which is used in recording and interpreting basic economic data for individuals,enterprises, governments and other entities.
Accounting is defined broadly as the process of identifying, recording, and summarizing data related to business transactions and events to permit informed judgement and decisions by users of the information. Such data are to a large extent of a financial nature and are frequently stated in monetary terms. Accounting is also concerned with reporting and interpreting the information.
Accounting helps decision making by showing where and when a company spends money and makes commitments, prioviding information for evaluating financial performance, and illustrating the financial implications of choosing one plan isstead of another. Accountin also helps predict the future effects of decisions, and it helps direct attention to current problems, imperfections, and inefficienc ies, as well as opportunities.
Consider some basic relationships in the decision-making process:
When economic events occur, accountants analyze and record the events. Periodically, accountants summarize the results of the events into financial statements. Users then rely on the financial statements when making their dicisions. Our focus includes all four boxes. All financial accounting courses cover the analysis and recording of information and preparing financial statements. We pay more attention to the underlying business processes creating the events and to the way in which the financial reports help decision makers to take action.
Accounting provides the techniques for accumulating and the language for communicating economic data to various individuals and institutions. Investors in a business enterprise need the information about its financial status and its future prospective. Bankers and suppliers appraise the financial soundness of a business organization and assess the risk involved before making loans and granting credits. Govermment agencies are concerned with the financial activities of business organizations for purpose of taxation and regulation. Employees and their union representatives are also vitally interested in the stability and profitability of the organizations that hire them. Accounting information is also needed and used by financial analysts, trade associations,stock exchanges, and educational https://www.doczj.com/doc/2512215048.html,rmation required by all these groups and interested in the financial position and the operating results of a business.The gathering and presentation of this information for extermal financial reporting is known as financial accounting.
However, the individuals most dependent upon and must involved with end priducts of accounting are those who are chaged with the responsibility for directing the operations of enterprises. They are often referred to collectively as ―the management‖, who need various types of accounting information in the conduct of day-to-day operations of the business and in evaluating current operations and in planning the future operations. The use of accounting information through analysis and in combination with information from other areas for business decisions and internal management purpose is referred to as managerial accounting or
management accounting.
The field of accounting is divided into three broad divisions:public, private and governmental.
A certified public accountant, or CPA, as the term is usually abbreviated, must pass a series of examinations, after which he or she receives a certificate. In the United Stated, the certification examinations are prepared and administered by the American Institute of Certified Public Accountants. The various states or other major govemmental jurisdictions set additional qualifications for residence, experience, and so on..The British equivalent of a CPA is called a chartered accountant.
Public accounting consists largely of auditing and tax services. An audit is a review of the financial records of an organization. It is usually performes at fixed intervals of time—perhaps quarterly, semiannually, or annually. Separation of ownership from management in corporations creates a demand for auditing, a third-party examination of the financial statements. Auditors evaluate the record-keeping system of the firm and test specific taansactions and account balances to provide assurance that the balances fairly reflect the financial position and performance of the company. Ethical behavior is critically important in professional activities such as accounting. In public accounting, the value of an audit is directly linked to the credibility of the auditor as an ethical, independent professional who is qualifiied to evaluate the financial statements of the firm and is also reliably committed to disclosing problems or concerns uncovered in the ecaluation.And as the tax laws have grown increasingly complex, not only corporations but also individuals have had to utilize the services of accountants in preparing their tax forms and calculating their tax liability. Business enterprises, governmernt agencies, and nonprofit organizations all employ public accountants either regularly or on a part time basis.
Pvivate accountants, also called executive or administrative accountants, handle the financial records of a business.They work on a salsry basis. Those who work for manufacturing concerns are sometimes called industrial accountants. Some large corporations employ hundreds of employees in their accounting offices.
All branches of governmernt employ accountants. In the United States, this includes federal, state, and local governmernts. In addition, government owned corporations in the United States and in many other countries have accountants on therr staffs. All of these accountants, like those in private industry, are salaried rather than paid a fee.
As in many other areas of human activity during the twentieth century, a number of specialized fields in accounting have evolved as a result of rapid technological advances and accelerated economic growth.. The most important accounting fields include financial accounting, auditing, cost accounting fields include financial accounting, auditing, cost accouting, management accounting, tax accounting, budgetary accounting, international accounting, and social accounting.
Unit 2 Generally Accepted Accounting Principles
To be useful, financial accounting information must be assembled and reported objectively.Those who must rely on such information have a right to be assured-that the data are free from bias and inconsistency—whether deliberate or not.For this reason, financial accounting relies on certain standards or guides that have been proved useful over the years in imparting economic data.These standards are called generally accepted accounting principles. They are closely related to experience and pracrice and may change over a time.V arious terms, such as
principle, standard, assumption, convention, and concept, are often used to describe such guides.
The most fundamental concepts underlying the accounting process are (1)an economic entity assumption, (2)a going-concern assumption, (3)a monetary unit assumption,and (4)a perodicity assumption. The basic principles followed by accountants in recording business transactions can be classified as (1)the historical cost principle, (2) the revenue realuzation principle, (3) the matching principle, (4) the consistency principle, (5) the full disclosure principle, and (6) the objectivity principles.These principles relate basically to how assets, liabilities, revenues, and expenses are to be recognized, measured, and reported.
Accounting is also affected by certain considerations that merit attention.These considerations referred to as modifying conventions are (1) materiality, (2) industry practice, and (3) conservatism.
Generally accepted accounting principles are not natural laws in the sense of the laws of physics and chemisty.They are man-made rules that depend for their authority upon their general acceptance by the accounting profession.Currently, generally accepted accounting principles in the U.S.A. are developed by a group called the Financial Accounting Standards Board(FASB), which is composed of seven full-time members.The principles established by the FASB are called Statements of Financial Accounting Standards.The FASB develops its statements by using a feedback process, in which interested people and organizations can participate by communicating their opinions to the FASB.First, the FASB writes a discussion memorandum, which explains the topic under current consideration.Then public hearings are held where accountants and other interested parties can express their opinions, either orally or in writing.The groups that most consistently offer opinoions about proposed FASB statements are the Securities Exchange Commission(SEC), the American Institute of Certified Public Accounting Association(AAA), and companies with a direct interest in a particular statement that has been proposed by the FASB.After the FASB holds public hearings about a potential statement, it prepares a draft of the statement, called an exposure draft, which describes the FASB’s proposed solution to the problem being considered.The FASB then receives and evaluates public comment about the exposure draft.Finally, its members vote on the statement.If four or more of the members appovre, the proposed statement becomes one of the generally accepted accounting principles.
To ensure that generally accepted accounting principles are followed by publicly owned corporations, the SEC requires that financial information, in the form of financial statement, be submitted annually by all such companies to the SEC. These financial statements must be audited by an accountant who is not on the staff of the firm that issued the staements(an independent certidied public accountatnt).In addition, the statements must include a report by the accountant about the review, which is known as the auditor’s report.The purpose of the review is to obtain the objective opinion of a professional accountant from outside the company that the financial statements fairly present the information was prepared according to generally accepted accounting principles.The financial statement and the auditor’s report must be made available to stockholders and potential stockholders of publicly owned corporations.
Business and the environments in which they operate are constantly changing.And so are the economy, technology, and laws.Therrfore, financial information and the methods of presenting that information must change in order to meet the needs of the people who use the information.Generally accepted accounting principles are changed and refined as accountants respond to the changing environment.
Unit 3 The Accounting System
The basic structure of an accounting system, which is rather simple in nature, has six parts of classifications:(1)assets, (2)liabilities, (3)owners’ equity, (4)revenues, (5)expenses and(6)profit.
An asset is anything of value that is owned by a business or an individual, the value of which is determined by the acquisition price, or historical cost, of the item.Liabilities represent the debts owed to others known as creditors and referred to as ―payables‖,claims by creditors.Accountasnts referred these claims, together with the claims by owners, as the equities of a business.Owner s’equity represents the portion of the assets that belongs to the owner of the business.It is the net asset of a business, which is the difference between the amout of the assets owned and the amount of the liabilities owed by a business.Revenues represent assets coming into the business from the performance of a service or the sales of a product to a customer for cash or on credit.In some cases, however, realization of a revenue may simply mean the discharge of a debt owed by the business.Expenses represent assets that are used, consumed, or worn out as a result of employing them in the business for the prupose of earning revenue.Expenses are often referred to as ―the cost of doing business‖, which decrease the net asset in the business.Together revenues and expenses define the fundamental meaning of income, which is simply the excess of revenues over https://www.doczj.com/doc/2512215048.html,mon synonyms for income are profits or earnings.
The first three classifications of the accounting structure—assets, liabilities, and owners’equity form the basic accounting equation or balance sheet equation, which is expressed as follows:
Assets=Liabilities+Owners’ Equity
Items of value owned(by business)=amount owed or creditor’s claim on assets+capital invested by owners or owners’claim on assets.
Owners’ Equity=Paid-in capital+Retained earnings
The total cumulative owners’equity generated by income or profits is called retained earnings or retained income.
Retained earnings= Revenues- expenses
Some activities or the day-to-day events of a business are known as transactions. Every business will usually have financial transactions as well as non-financial ones.From an accounting standpoint, we are only concerned with the financial transactions of the business, which involve the performance of a service or the sale of a product to a customer, or the acquisition of service or materials and/or equities (liabilities or owners’ equity). Each business transaction will result in one of the following:
1.Increase one asset and decrease another asset;
2.Decrease one equity and increase another equity;
3.Increase an asset and increase an equity;
4.Decrease an asset and decrease an equity.
One of the direct effects of the accounting equation mentioned above is the double—entry system of recording, which simplu means that both sides, or the two-fold effects, of a business transaction are recorded. And when you record both sides of a business transaction, you are keeping the books in balance. For example, if supplies were purchased for $200 from a supplier on credit, a business would own supplies costing $200 and owe the creditor $200 for the purchase on account. Both sides of the transaction would be recorded, and that results in an increase to the
Supplies(assets) and an increase to the Accounts Payable(liabilities) for the purchase, and eventually a balance in books.
The easiest way to keep a record of business transactions is to record them when there is an exchange of cash. This is the cash system, or the cash basis of accounting. For example, when a business performs services to customers, the revenue earned would be recorded when cash is actually received. Therefore, only cash sales would be recorded as revenue earned for a period, whereas sales on account or charge sales would not be recognized until the customers paid the account.
A more meaningful method used by most businesses is called the accrual system, or the accrual basis of accounting, which recognizes revenue when earned regardless of when the cash is received. A sale on account is recorded as revenue earned through the cash has not been received. Expenses for the period are recognized when they are incurred even if they have not been paid.
The result of business transactions are summarized and reported to various users at the end of a certain period of time, known as an accounting period.The most common accounting period is the fiscal year, consisting of a 12-month period,which may or may not be the same as a calender year.It is also common to axxount for a fiscal period of less than one year, such as one month(monthly) or three months(quarterly). Each business entity determines its own financial reporting needs, but it is a requirement by the federal government that all businesses prepare an annual or fiscal year report known as the general-purpose external financial report.
Unit 4 Balance Sheet and Income Statement
A balance sheet presents the financial position of a business enterprise at a given date.The financial position consists of the addets, liabilities, and owners’ equity.A balance sheet shows the financial resources a business owns, the debes that the business owes, and the residual interest of the business, which is the difference between what it owns and what it owes.In its traditional format, account form, a balance sheet lists assets on the left-hand side and liabilities and owners’equity on the right-hand side. When the liabilities and owners’ equity are added together, they will be equal to the assets.Therefore, the statement is saide to ―balance‖ because the left-hand column is equal to the right-hand column.
The balance sheet is basically a historcal report, because it shows the cumulative dffect of past transactions and events. According to the definition provided by the Financ ial Accounting Stamdards Board(FASB):Assets are probable future economic benefits obtained or controlled by a particular entit as aresult of past transactions or events. Generally, assets can be vlassified into current sssets and non-current assets. Current assets are those assets that are in the form of cash or are expected to be turned into cash in the short run, usually within one year. Among them are cash, marketable securities, accouns receivable, notes receiveble, inventories, and prepaid expenses. There are four categories of non-current assests:(1)long-term or restricted funds, investments and receivables;(2)long-term tangible resources used in operations, such as land, build ings, machinery and equipment and so forth;(3)long-term intangible resources, examples of such assets qte patents, trademarks, copyrights,and franchises;and (4)other non-current assets.
Another category of balance sheet items is liabilities, which can be further classified into current liabilities.Current liabilities are debts that must be paid off within one year or the normal operating cycle, whichever is longer, such as accounts payable, notes payable, revenues collected in advance.Non-current liabilities usually consist of long-term notes, mortgages loans and bonds,
which are debts not due for at least one yeat.
Owners’ equity is the difference between total assets and total libilities. It represents a business enterprese’s ownership inerest, the residual interest in the assets of the entity that remains after deducting its liabilities. It is requored by the law that a corporation’s owners’equity be divided into two parts: capital stock, which is the amount invested in the company, and retained earning, which represent the cumulative earnings of the company less any distribution of these earnings called dividends. Single proprietorships or partnerships, however, do not have to distinguish between amounts invested by the owners and any undistributed earnings.
The most important change in a balance sheet between two periods of time is the change in owners’ equity. It is important that the potential creditor or investor know not only the amount of this change, but also the principal factors that have contributed to it.One such factor is the operating results of the business.Consequently, in addition to a balance sheet, the publicly held corporation must also publish an income statement, which provides the details of the changes in owners’equity between two periods that have resulted from the operations of the business.The purpose of the income statement is to indicate how successful the business has been in meeting the objective of earning profits, which is of primary importance to the board of didrectors in evaluating the management of the company , to stockholders or potential stockholders in marking investment decisions, and to banks and other creditors in deciding on actions to be taken with respect to loans.Other things being equal, a profitable company is a good company to invest in, lend money to, work for, and deal with in general.
The major categories of the income statement, say, for a merchandising company are revenue, cost of goods sold, and operating expenses. In the revenue section, sales returns and allowances and sales discounts are deducted from the fross sales to yield net sales.
The cost of goods sold is obtained by adding the beginning inventory and net purchase for the period and deducting the ending inventory. To calculate net purchase, purchase returns and allowances is deducted from delivered cost of purchase which comes from the purchase amount deducting purchase discount and adding freight-in.By deducting the cost of goods sold from the net sales, we arrive at an intermediate amount called gross profit on sales.The operating expenses are then deducted from the gross profit on sales to obtain the net operating income for the period.
The operating expenses of a merchandising business are typically classified into selling expenses and general and administrative expenses. Some business items affecting the determination of a final net income amount may not relate to the primary operating activities of the business. Interest income and interest expense, for example, may be viewed as relating more to financing and investomg activities than to merchandising efforts.They are often shown in a separate category called ―Other Income and Expense‖at the bottom of the income statement.Income before income taxes is computed by income from operations deducting other income and expense, and then less income taxes expende, the final net income amount is figured.There are two forms of income statement—the multiple-step and the single-step form.
For corporations, another important statement that comes from the same period of time as an income statement is the statement of retained earnings, which shows the beginning retained earnings, the net income and dividends(authorized withdrawal of income) for the period, and the ending retained earnings.For single propritetorships and partnerships, a similar statement called the statement of owners’equity is prepared.The statement shows the beginning equity, changes during the period, and ending equity.
Unit 5 Cash Flow Statement
The objective of a cash flow statement is to provide users of financial statement with information not provided in a balance sheet and a statement of net income and retained earnings, that is information about the inflows and outflows of cash and cash equivalents of an enterprise in an accounting period, in order to enable users of financial statements to understand and evaluate the ability of the enterprise to fenerate cash and cash equivalents and, accordingly, to forecast the future cash flows of the enterprise.
Cash comprises cash on hand and deposits that are readily available for payment. Cash equivalents ate short-time(usually less than 3 months), highly liquis investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value, such as treasury bill. Cash flows are inflows and outflows of cash and cash equivalents of an enterprise. Cash flows should be classified into the following three categories:(1)cash flows from operating activities(CFFO);(2)cash flows from investing activities(CFFI); and (3)cash flows from financing activities(CFFF).
Operating activities are all transactions and events of the enterprise that are not investing or financing activities.The principal cash inflows from operating activities inc lude:(1) cash receipts from the sale of goods and the rendering of services(excluding output value added tax received and after deduction of cash payments for the return of goods sold);(2)receipts of rental income;(3)receipts of output value added tax and refunds of value added tax; and (4)receipts of other tax and levy refunds other than value added tax. The principle cash outflows from operating activities include:(1)cash payments for goods and services(excluding the portion of input value added tax which can be used to offset output value added tax and cash receipts for the return of goods purchased); (2)cash payments for operating leases;(3)cash payments to and on behalf of employee;(4)payments of value added tax(excluding the portion of payment for input value added tax which cannot be used to offset output value added tax);(5)payments of income tax; and (6)payments of odther tax and levy other than value added tax and income tax.
Investing activities are the acquisition and disposal of long-term assets and investments not include in cash equivalents.The principal cash inflows from investing activities include:(1)cash receipts from return of investments;(2)cash receipts from distribution of dividends or profits;(3)cash receipts from bond interest income; and (4)net cash receipts from the sale of fixed assets, intangible assets and other long-term assets(if this is a megative figure, it should be presented as a cash outflow from investing activities).The principal cash outflows from investing activities include:(1)cash payments to acquire fixed assets, intangible assets and other long-term assets;(2)cash payments to acquire equity investments; and (3)cash payments to acquire debt investments.
Financing activities are those activities that result in change in the size and composition of the capital and borrowings of the enterprise. The principle cash inflows from financing activities include:(1)cash proceeds from issuing shares;(2)cash proceeds from issuing bonds; and (3)cash receipts from borrowings.The principal cash outflows from financing activities include:(1)cash repayments of amounts borrowed;(2)cash payments for costs arising on any financing activities;(3)cash payments for distribution of dividends or profits;(4)cash payments of interest expenses;(5)cash payments for finance leases; and (6)cash payments for the reduction of registered capital.
The cash flow statement should report cash flows of an enterprise during the current period classified by operating, investing and financing activities.The preparation of cash flow statement bases on cash and cash equivalents.There are two altermative methods to prepare cash flow statement —direct method and indirect method.An ehterprise should report cash flows from operating activities using the direct method, whereby major classes of cash receipts and cash payments are disclosed to reflect cash flows from operating activities of the enterprise.The cash flow statement can be prepared by using one of the procedures —worksheet analysis and T —account analysis.T —account analysis is similar to the worksheet approach except that a sepatate T —account is set up for each item for the analysis purpose.
Unit 6 Financial Statement Analysis
Financial statement analysis is a process of selection, relation, and evaluation.The first step is to select from the total information available about a business enterprise the information relevant to the decision under consideration.The second step is to arrange the information in a way that will bring out signigicant relationships.The final step is to study these relationships and interpret the results.
The process of financial statement analysis consists of the application of analytical techniques to financial statements in order to derive from them measruements and relationships that are significant and useful for decision making.Thus , financial statement analysis, first and foremost, serves the essential function of converting data into useful information.
In respect of the quantitative data presented in the financial statements, three techniques used widely to assist decision malers in understanding the external statements are: (1)comparative analysis (through preparation of trend statements),(2)structural analysis (through preparation of common –size statements), and (3) ratio analysis.The focus of this material will be on how ratio analysis helps information users interpret and evaluate the data vintained in financial statements.
Ratio analysis is the process of calculating and interpreting financial rations.Ratios are used in analyzing financial statements because they convert huge amount of data nto workable form, thus making the information more meaningful.However, we should emphasize that a ratio in isolation means very little. Its utility comes froms compraring it to some standards.The standards could be the same ratio for prior periods, an industy average, or some other benchmark..
For discussion purposes, financial ratios can be classified into four categories:liquidity, financial leverage, efficiency, and profitability.
（1） Liquidity Ratios
Ratios in this category are designed to assist one in judging if a firm can pay its current liabilities when due. Liquidily ratios that are widely used include current ratio and quick ratio. Current Ratio:
Current ratio is widely used to test a firm ’s ability to meet its short-term obligation.
It is computed as follows: Current Ratio=s Liabilitie Current Assets
Current
Generally speaking, the higher the ratio, the greater ability of a firm to pay off its current liabilities. A widely used rule of thumb is that a firm with a current ratio of 2 or more is in good shape in terms of being able to pay maturing current liabilities.Most experienced analysts realize rule may be misleading.
Quick Ratio:
The quick ratio, also known as the acid test ratio, is designed to provide a more rugorous test than the current ratio of a firm ’s ability to pay its current liabilities on time.
It does this by excludingless liquid current assets from the numerator as shown below: Quick Ratio=s Liabilitie Current Receivable
Accounts Securities Marketable Cash ++
(2)Financial Leverage Ratios
These ratios provide insight into the extent to which a firm is relying on debt financing.They can also aid one in judging a firm ’s ability to raide additional debt and its capacity to pay its liabilities on time.
Debt to Assets Ratio:
This ratio is derived in the following manner: Debt to Assets Ratio=Assets Total s Liabilitie
Total
The higher the ratio, the greater risk will be associated with the firm ’s operation. In addition, high debt to assets ratio may indicate low borrowing capacity of a firm, which in turn will lower the firm ’s financial flexibility.
Capitalization Ratio:
The capitalization ratio focuses on long-term debt usage.
It is calculated as follows: Capitalization Ratio=Equity Owners'Debt term Long Debt
term Long +--
Many analysts calculate both debt to assets ratio and capitalization ratio, because together they can help isolate the source of change in debt usage.For example, if a firm financed the pruchase of a building with short-term debt, the debt to assets ratio would be affected but not the capitalization ratio.It is dangerous to finance permanent needs like a building with temporary source of funds like a short-term bank loan.
Debt to Equity Ratio:
The debt to equity ratio is derived as follows: Debt to Equity Ratio=Equity Total Debt
Total
This ratio can be derived from the debt to assets ratio and provides essentially the same information.
Interest Coverage Ratio:
The interest coverage ratio, also known as times of interest earned, is designed to help one evaluate a firm ’s capacity to meet interest payments.It is calculated as follows: Interest Coverage Ratio=Interest Taxes
and Interest before Earnings
The higher the ratio, the greater ability of a firm to use its earnings to pay its interest in a regular manner.
(3)Efficiency Ratios
Efficiency ratios, also known as turnover ratios, can help one evaluate how well a firm is
managing and controlling its assets.They can also aid one in estimating the amount of capital necessary to generate sales.
Total Asset Turnover:
The total asset turnover helps the analyst appraise the overall efficiency of asset employment and the level of capital intensity. It is computed as follows: Total Asset Turnover=Assets Total Sales
Net
The higher the ratio, the more efficient in managing and controlling assets.
Accounts Receivable Turnover:
This turnover ratio helps one judge if a change in receivable turnover is due to a change in sales or to something else such as a lengthening of the time it takes customers to pay. It is computed as follows: Accounts Receivable Turnover=Receivable Accounts Sales
Net
Analysts can compare this turnover ratio of different periods, decrease in this ratio indicates that receivables have increased at a greater rate than sales, implying either that customers are taking longer to pay or a company is granting longer credit terms.
Inventory turnover:
The inventory turnover ratio helps judge how well inventory is controlled and managed.
It assists one in evaluating whether a change in inventory is due to a change in sales or to some other factors such as slowdown in the time it takes for the firm to produce and sell its inventory. It id derived as follows: Inventory turnover=Inventory Average Sold
Goods of Cist
If there is a decline of inventory turnover ratio, it could be a signal of purchasing problems or even worse, obsolete inventory.
(4)Profitability Ratios
Ratios in this category can assist one in appraising management ’s ability to control expenses and to earn a return on the resources committed to the business.
Rate of Return on Assets: Rate of Return on Assets=rage)Assets(Ave Total Taxes
after Income Net
Rate of return on assets reflects the combined effects of cost control and asset uillization.
A high rate of return on assets may well indicate that the firm is successful in controlling cost and expenses as well as in utilizing its assets.
Return in Owners ’ Investment(ROI):
This ratio is regarded as a fundamental test of proditability.It relates income to the investment that was committed by the owners to earn the income.It is computed as follows:
Return on Owners ’ Investment=Equity Owners' Average Income
Net
This ratio is particularly useful measure of profitability from the viewpoint of the owners
because it relates the two fundamental factors in any investment situation —the amount of the owner ’s investment and the return earned for the owners on that investment.
Profit Margin:
This ratio is based on two income statement amounts.It is computed as follows: Profit Margin=Sales Net Income
Net
This profitability test simply is the percent of each sales dollar, on average, that represents profit.Care must be exercised in analyzing the profit margin because it does not take into account the amount of resources employed to produce the income.
Earnings Per Share(EPS):
This ratio evaluates profitbility strictly from the common shareholders ’ point of view.Rather than based on the dollar amount of the investment, it is baded on the number of shares of common stock outstanding. Earnings Per Share=g Outstandin Stock of Shares of Number Average Income
Net
Unit 7 Cash and Short-term Investments
Cash is a medium of exchange that a bank will accept for deposit and immediate credit to the depositor ’s account.Cash includes currency and coins, petty cash, demand deposits, credit cards, checks, money orders, bank drafts, promissory notes and so on. On the other hand, some items may be classified as other balance sheet captions rather than as cash according to the generally accepted accounting principles.Among them are certificates of deposit, bank overdrafts, postdated checks, IOUs, travel advances, postage stamps and NSF(non-sufficient fund) checks. In summary, the criteria generally used to define cash are that the item be a medium of exchage, be available immediately for the payment of current debts, and be free from any contractual restriction which would prevent management of the business enterprise from using it to meet be reported elsewhere within the assets(liabilities) section on the balance sheet.
Cash control systems, which are part of a firm ’s intermal control systems, can be divided into two main functions: (1) control over cash receipts and (2) control over cash disbursements. An adequate system of internal control over cash would include the following features: (1) cash is handled separately from the recording of cash transactions, (2) the work and responsibilities of cash handling and recording are divided in such a way that errors are readily disclosed and the possibility of irregulauities is reduced, (3) all cash receipts are deposited intact in the bank each day , and (4) all major disbursements are made by checks, and the imprest system with a ―pretty cash float ‖ is used for petty cash disbursements.
When a company opens a checking account at a bank, the bank will submit monthly statements to the company showing the beginning cash balance, all additions and deductions for the month, and the ending cash balance. This permits the company to have a double record of cash transactions, one being generated by the firm ’s recording procedures, and the other being furnished by the bank. Control is provided by comparing the two records and accounting for any differerces.This important procedure is called reconciling the bank statement with the company ’s cash book or, simply , making a bank reconciliation, which consists of a schedule to account for any of the differences between the bank statement balance and the book balance.
Almost invariably the ending balance on the bank statement differs from the balance in the company’s Cash in Bank account.Some reasons for the differences are : (1) outstanding check, (2)deposits not yet credited by the bank ,(3) charges made by the bank but not yet reflected in the depositor’s books ,(4)credits made by the bank but not yet reflected on the depositor’s books, and (5)accounting errors made either by the depositor or by the bank.
The form and the content of the bank reconciliation are outlined as follows:
Bank balance according to bank statement $×××
Add :Additions by depositor not on bank statement…$××
Bank errors…………………××…××…….
$×××
Deduct :Deductions by depositor not on bank statement $××
Bank errors ××…××
Adjusted balance $×××
Bank balance according to depositor’s records $×××
Add :Additions by bank not recorded by depositor…$××
Depositor errors………………………………….××…××…
$×××
Deduct :Deductions by bank not recorded by depositor $××
Bank errors ××…××
Adjusted balance $×××
The two amounts designated as the adjusted balance must be equal, and the necessary adjusting entries shall be prepared and posted by depositor.
Most business firms find it inconvenient and expensive to write checks for small expenditures. These expenditures are usually handled by establishing a petty cash fund. Control can be maintained by handling the fund on an imprest basis and by following certain well-established procedures. Although expenditures from an imprest petty cash fund are made in currency and coins, the fund is established or increased by writing a check against the general bank account. After reviewing expenditures, replenishment is also accomplished by issuing checks. Therefore , in the final analysis, all expenditures are actually controlled by checks.
Another important item of current assets is the short-term investments, which ordinarily consist of marketable debt securities and marketable equity securities acquired with cash not immediately needed in operations. The original cost of secrurities inc ludes the purchase price, brolerage fees, taxes and all other expenditures incident to acquisition. The accrued interest or dividend of the securities bought should be paid to the seller by the buyer as compensation.
To illustrate, assume the purchase of a $1000 bond of A Co. costs$1000 plus accrued interest since the last interest payment date, the bond inerest rate is 10%. Interest is paid two times a year, three months has passed since the last payment date.
The accrued interest is:
$1000×10%×(1/4)=$25
The entry for the purchase should be:
Marketable securities ------ Bonds of A Co. 1000
Accrued interest 25
Cash 1025
Three months later, when the investor receives the interest for six months, it should be
recorded as:
Cash 50
Accrued interest 25
Interest income 25
A single share or unit of a marketable equity security has a market price, which when multiplied by the number of shares or units of that specific security produces the aggregate market price referred to as the market valuem.The market price generally changes as transactions involving the security occur.According to FASB’s statement No.12, the net unrealized loss from the change, the excess of aggregate cost over the market value, should be accounted for as the valuation allowance and reported in the determination of net income for the period.
Marketable securities are sold when needs for cash develop or when good investment management indicates a change in the securities held.The difference between the net proceeds for the sale of a security and its cost represent the realized gain or loss .At the date of sale, no regard is given to unrealized losses or the amount accumulated in the valuation allowance account because the valuation allowance relates to the total portfolio and not to specific security holdings.
Marketable debt securities are usually accounted for at cost. Under the cost basis, if a permanent decline in the market value of debt securities occurs, the write-down from cost to market is charged to income in the period of recognition but there is no later recognition for subsequent market value increases, no valuation allowance account is utilized.
On a balance sheet, cash, the most liquid asset, is listed first in the current asset section. All unrestructed cash whether on hand or on deposit at a financial institution is presented as a single item using the caption ―cash‖. Marketable securities usually rank next to cash in liquidity and should be listed in the current asset section on the balance sheet immediately after cash. Marketable securities that are held for other than liquidity and short-term investment purpose should not be classified as current assests.
Unit 8 Receivables
Short-term receivables are defined as claims held against others for money, goods, or services collectible within a year or the operating cycle, whichever is longer. Receivables include notes receivable, accounts receivable, and all kinds of receivables other than the above two. Notes and accounts receivables arise from the sale of merchandise or services in normal course of business. They are called trade receivables. They are usually the most significant receivables an enterprise possesses. Other receivables, such as those from employees for salary advances and loans, from the sale of non-merchandise assets, from deposits as a guarantee of performance or payment, from deposits as a guarantee of performance or payment, from dividends and interest, stock subscriptions, and from other various claims, such as claims against insurance companies for easualties sustained, are called non-trade receivables.
Companies selling merchandise or providing services often accept promissory notes or drafts from customers instead of cash or otherwise the accounts are owed by the latter. Account titles used in accounting are Notes Receivable or Accounts Receivable. Companies selling durable goods and machinery and equipment often receive ―Notes Receivable‖or ―Accounts Receivable‖because the credit period is long. They prefer notes to accounts receivable because of the following advantages: (1)a note represents unconditional written acknowledgement by debtor of the debt owed;(2)note can be turned into cash by discounting it to a bank at any time before
maturity; and (3)they may earn interest if an interest-bearing note is granted.
A holder may indorse a note and deliver it to bank in exchange for cash whenever he needs it. This procedure is called discounting. In discounting, the maturity value of a note (its per value adding the interest receivable at maturity date) is the future value. The discount period is one beginning from discounting date and ending at maturity date. The amount of interest deducted is known as bank discount, from the maturity value is called present value or discounted proceeds of the note.
To illustrate, assume that on May 28 A Co. received a $12000, 60-day, 8% note dated May 27from customer Owen. It held the note until June 2, then discounted it to a bank at 9%. Basing on these data, the computation will be:
Discount period: from June 2 to June 26 =54 days
Maturity value = 12000+12000×8%×(2/12)=12160
Discount =12160×9%×(54/360) =164
Proceeds (present value ) =12160-164 =11996
The company will make this entry in recording the discount transaction:
Cash 11996
Interest expense 4
Notes receivable 12000
A Company illustrated endorese the note and thus makes the company possibly liable for payment of the note. If the maker of the note defaults at maturity date dishonoring the note, the endorser must pay the note for the maker. So A Company becomes contingently liable from the date of discounting to the date of maturity. Such liability is called ―contigent liability‖. If the maker pays the note n maturity date, the contingent liability becomes real liability for A Company, and A Company must pay for the note. If a balance sheet id prepared prior to the discounted note’s maturity date, the contingent liability should be indicated by a footnote on the balance sheet.
When merchandise or services are sold without the immediate receipt of cash, a part of the claims against customers ususlly proves to be uncollectible. The operating expense incurred because of the failure to collect receivables is called an expense or a loss from uncollectible accounts, doubtful accounts, or bad debts.
There are two generally accepted methods of accounting for receivables that are believed to be uncollectible. The allowance method, provides in advance for uncollectible receuvables. The other procedure, called the direct write-off method, recognizes the expense only when certain accounts are judged to be worthless.
Two methods are usually used in estimating bad debts. The first is ―Percentage of Net Credit Sales‖. This method matches costs with revenue because it relates the charge to the period in which the sale is recorded. The other method analyzes the age and probability of collection of individual accounts, called ―Aging method‖.
To illustrate percentage of credit sales method, assume that B Company estimates from past experience that about 0.6% of charge sales become uncollectible. If B Company had charge sales of $300000 during the current year, the entry to record bad debts expense is as follows: Bad debts expense 1800
Allowance for bad debts 1800
When a specific account (for example, $100 owed by J. Price) is determined as uncollectible, it would be written off through the allowance account:
Allowance for bad debts 100
Accounts receivable—J. Price 100
Allowance for Bad Debts is a contra account to accounts receivable. It is shown on the balance sheet as a deduction of accounts receivable. Its balance is expected uncollectible accounts.
To illustrate the aging method, assume that B Company, the allowance account had a credit balance of $700, the aging schedule and the schedule for estimated bad debts are listed below, the amount to be added to the allowance account is $1170($1870-700), and the following entry is made:
Bad debts expense 1170
Allowance for bad debts 1170
Figure 8-1
B COMPANY AGING SCHEDULE
Figure 8-2
B COMPANY SCHEDULE SCHEDULE FOR ESTIMA TED BAD DEBTS
The general rules in classifying the typical transactions in the receivable section on the balance sheet are: (1)Segergate the different receivables that an enterprese possesses, if material;(2)insure that the valuation accounts are appropriately offset against the proper receivable accounts;(3)determine that receivables classified in current asset section will be converted into cash within the year or the operating cycle, whichever is longer ;(4)disclose any loss contingencies that exist on the receivables; and (5) disclose any receivables assigned or pledged as collateral.
Unit 9 Inventories
The term inventories is used to designate (1) merchandise held for sale in the normal course of business, and (2)materials in the process of production or held for such use. This lesson discusses
the determination of the inventory of merchandise purchased for resale, commonly calle merchandise inventory.
Inventory determination plays an important role in matching expired costs with revenues of the period. The total cost of merchandise available for sale during a period of time must be divided into two parts at the end of the period. The cost of merchandide determined to be in the inventory will appear on the balance sheet as a current asset. The other element, which is the cost of the merchandise sold, will be reported on the income statement as a deduction from net sales to yield gross profit. So, appropriate description and measurement of inventory demand careful attention.
There are two principal systems of inventory accounting, periodic and perpetual. When the periodic system is used, only the revenue from sales is recorded each time a sale is made. No entry is made at the time of the sale to record the cost of merchandise that has been sold. Consequently, a physical inventory must be taken in order to determine the cost of the inventory at the end of an accounting period. Ordinarily, it is possible to take a complete physical inventory only at the end of a fiscal year.
In contrast to the periodic system, the perpetual inventory system uses accounting records that continuously disclose the amount of the inventory. A separate account of each type of merchandise is maintained in a subsidiary ledger. Increases in inventory items are recorded as debits to the proper accounts, and decreases are recorded as credits. The balances of the accounts are called the book inventories of the items on hand. Regardless of the care with which the perpetual inventory records are maintained, their accuracy must be tested by taking a physical inventory of each type of commodity at least once a year. The records are then compared with the actual quantities on hand and any differences are corrected.
One of the most significant problems in determining inventory cost comes about when identical units of a certain commodity have been acquired at different unit cost prices during the period. When such is the case, it is necessary to determine the unit prices of the items still on hand.
In actual practice, it may be possible to identify units with specific expenditures if both the variety of merchandise carried in stock and the volume of sales are relatively samall. Ordinarily, however, specific identification procedures are too time consuming to justify their use. It is customary, therefore, to use one of the three generally accepted costing methods, each of which is also acceptable indetermining income subject to the federal income tax.
The first-in,first-out(FIFO) method of costing inventory is based on the assumption that costs should be charged against revenue in the order in which they were incurred. Hence the inventory remaining is assumed to be made up of the most recent costs. Since most businesses tend to dispose of goods in the order of their acquisition, the FIFO method is generally in harmony with the physical movement of merchandise in an enterprise.
The last-in, first-out(LIFO) method is based on the assumption that the most recent costs incurred should be charged against revenue. Hence the inventory remaining is assumed to be composed of the earlier costs.
The average cost method, sometimes calle the weighted average method, is based on the assumption that costs should be charged against revenue according to the weighted average unit costs of goods sold. The same weighted average unit costs are used in determining the cost of the merchandise remaining in the invertory. The weighted average unit cost is determined by dividing the total cost of the identical units of each commodity available for sale during the period by the
related number of units of that commdity.
The average cost method of cost flow can be applied to the perpetual system, though in a modified form. Instead of determining an average cost price for each type of commodity at the end of a period, an average unit price is then used to determine the cost of the items sold until another perchase is made. This averaging technique is called a moving average.
The retail inventory method of inventory costing is widely used by retail businesses, particularly department stores. It is used to connection with the periodic system of inventories and is based on the relationship of the periodic system of inventories and is based on the relationship of the cost of merchsndise available for sale to the retail price of the same merchandise. The retail prices of all merchandises acquired are accumulated in supplementary records, and the inventory at retail is determined by deducting sales for the period from the retail price of goods that were available for sale during the period. The inventory at retail is then converted to cost on the basis of the ratio of cost to selling(retail) price for the merchandise available for sale.
When perpetual inventories are maintained or when the retail inventory method is used, the inventory on hand may be closed approximately at any time without the need for the physical count. In the absebce of these devices, the inventory may be estimated by the gross profit method, which uses an estimate of the gross profit realized during the period.
Each of the three alternative methods of costing inventories under the periodic systen is based on a differernt assumption as to the flows of costs. If the cost of goods and prices at which they were sold remained stabke, all three methods would yield the same results. Prices do change, however, and as a consequence the three methods will usually yield different amounts for both (1)the inventory at the end of the period and (2)the cost of the merchandise sold and net income reported for the period.
During a period of inflation or rising prices, the use of the first-in,first-out method will result in a greater amount of net income than the other two methods. The reason is that the cost of the units sold is assumed to be in the order in which they were incurred, and the earlier unit costs were lower than the more recent unit costs. Much of the benefit of larger amounts of gross profit is lost, however, as the inverntory is continually repenished at rver higher prices. During the 1972’s, when the rate of inflation increased to ―double-digit‖,the resulting increases in net income were ferquently referred to as ―inventory profits‖ or ―illusory profits‖ by the financiak press.
Inentories are usually presented on the balance sheet immediately following receivables. Both the method of determining the cost of the inventory (FIFO,LIFO, or average) and the method of valuing the inventory (cost, or lower of cost or market) should be shown. Both are important to the reader. The details may be disclosed by a parenthetical notation or a footnote.
A frequently used alternative to valuing inventory at cost is to compare cost with market price and use the lower of the two. It should be noted that regardless of the method used, it is first necessary to determine the cost of the inventory. ―Market‖, as used in the phrase ―lower of cost or market‖or ―cost or market, whichever is lower‖is interpreted to mean the cost to replace the merchandise on the inventory date. To the extent practicable, the market or replacement price should be based on quantities purchased from the usual source of supply.
As with the method elected for the determination of inventory cost (FIFO,LIFO, or weighted average), the method elected for inventory valuation(cost, or lower of cost or market) must be followed consistently from year to year.
Unit 10 Plant Assets and Their Depreciation
Plant assets or fixed assets are the long-lived tangible assets that are useful in the normal operations of an enterprise, and are not held for sale. Other descriptive titles frequently used are property, plant, and equipment, used either along or in various combinations. The properties most frequently included in plant assets may be described in more spedific terms as equipment, furniture, tools, machinery, buildings, and land.
The primary phases of accounting for operational assets are:
1.Measuring and recording the cost of the asset at acquisition date;
2.After acquisition, measuring the expense of using the asset during its useful life;
3.Recording disposal of operational assets.
At the date of acquisition, an operational asset is measured and recorded in conformity with the cost principle. In other words, historical cost is the usual basis for valuing tangible operational assets. Historical cost is measured by the cash equivalent price of obtaining the asset and getting it ready for its intended use. The purchase price, fright costs, and installation costs of a productive asset are considered part of the cost of the asset. For instsnce, the acquisition cost of a machine on January 3,2006, may be measured as follows:
Invoice price of the machine $4300
Less:Cash discount allowed 300
Net cash invoice price $4000
Add:Transportation charges 1000
Installation costs 250
Sales tax paid 1000
Acquisition cost $6250
The acquisition of the operational asset would be recorded as follows:
Machinery 6250
Cash 6250
After acquisition, all plant assets except land should be charged to depreciation expense over their service life. Depreciation means a portion of the value of an asset transferred to the cost of products(or service) as it has been worn gradually due to physical wear and tear, or technological obsolescence during the period of service. Some of the most common methods of deperciation will be discussed and illustrated in the following paragraphs. For this purpose, we will use the common set of facts and notations shown below:
Symbols Amounts
Acquisition cost C $6250
Estimated residual value RV $250
Estimated service life
Life in years N 3
Life in units of output P10000
Depreciation rate R
Dollar amount of depreciation per period D
(1)Straight-Line Method
The straight-line method is also called ―Service-life Method‖. This method allocates an equal share of an asset’s total depreciation to each accounting period in its life. The annual depreciation expense is measured as follows:
D=(C-RV)/N
or D=($6250-250)/3 years=$2000 per year
The adjusting entry for depreciation expende on this machine would be the same for each of the three years of the useful life:
Depreciation Expense 2000
Accumulated Depreciation—Machinery 2000
This method is called straight-line method because the annual depreciation and accumulated depreciation amount are shown as a straight line.
(2)Unit-of-Production Method
The straight-line method is rational when plant assets are used evenly in each accounting period. However, in some lines of business the use of certain plant assets varies greatly from period to period, therefore the use of straight-line method would be unreasonable. The unit-of-prodiction method relates depreciation to the use rather than to the time. Consequently, this method will better meet the requirements of the matching principle since use and contribution to revenue may coincide with each other. This method is expecially helpful for computing the depreciation of transportation facilities as spacecraft, airplanes and ships. Under this method, depreciation amount is determined by multiplying the units of output produced in that year by depreciation per unit. The calculation is as follows:
R=(C-RV)/P
or R=($6250-250)/10000 units=$0.6 per unit
Assuming 3000 units of actual output from the illustrative machine in Y ear 1, depreciation expense for Y ear 1 would be:
D=R P(actual output)
or D=$0.6×3000=$1800
The adjusting entry for depreciation at the end of Y ear 1 would be:
Depreciation Expense 1800
Accumulated Depreciation—Machinery 1800
Unlike the two depreciation methods discussed above, accelerated depreciation methods can produce a significantly accelerated effect. Accelerated depreciation means the asset’s estimated life shorter and more depreciation charges in earlier years and decreasing charges thereafter. This mothed is particularly appropriate for those assets that produce revenue higher in earlier years of use.Two most common accelerated methods are double declining balance method and sum-of-the-years-digits method.
(3)Double-Declining-Balance Method (DDB)
Under this method, depreciation of up totwice the straight-line rate, without considering salvage value, may be applied in the first year to the book value of an asset, and at the end of each succeeding year, the same rate is applied to the asset’s remaining book value(cost less accumulated depreciation).
The depreciation schedule for the illustrated machine using the double declining balance
The necessary adjusting entry is therefore as follows:
Y ear 1 Y ear 2 Y ear 3 Depreciation Expense 4166.67 1388.89 444.44
Accumulated Depreciation----Machinery 4166.67 1388.89 444.44 (4)Sum-of-the-Y ears-Digits Method (SYD)
Under this method the years in an asset’s service life are added.Their sum then becomes the denominator of the fractions.The numerators are the remaining service years.The ratios or the fractions are the depreciation rates for a series of years.
Using the data given earlier, the SYD method can be illustrated in the following
The adjusting entry for depreciation expense by year would be:
Y ear 1 Y ear 2 Y ear 3 Depreciation Expense 3000 2000 1000
Accumulated Depreciation----Machinery 3000 2000 1000 When a plant asset wears out and is to be discarded, its cost and accumulated depreciation should be removed from the accounts and their difference shows a gain or a loss of the disposal.
Assume that the illustrated machine becomes worthless and is discarded after having $4000 depreciation recorded against it.The machine has scrape sold for $1000.The entry to record the disposal is:
Cash 1000
Loss on disposal of Plant Assets 1250
Accumulated Depreciation—Machinery 4000
Machinery 6250
If a plant asset is still used after its service life limit, then no more depreciation is to be charged. However, the above entry will be made at its disposal.
Unit 11 Long-term Investment
Investment that are not intended as a ready source of cash in the normal operations of the business are known as long-term investments.A business may make long-term investment simply because it has cash that it cannot use in its normal operations.A corpopation may invest in another corporation by acquiring either equity securities(preferred and common shares) or debt securities (bonds and notes) in order to earn a return on idle cash or obtain influence or control over the other corporation.
The purpose of this lesson is to discuss measuring and reporting of long-term investments in both voting common shares and debt securities.
(I)Measuring and Reporting Investments in Common Shares
Accounting for long-term investments in voting common shares involves measuring the investment amount that should be reported on the balance sheet and the periodic investment revenue that should be reported on the income statement.In accordance with the cost principle, long-term investments are measured and recorded at the date of acquisition of the shares, at the total consideration given to acquire them.This total includes not only the amount paid to the seller
首页 - 我的作业列表 - 《财务管理(Ⅰ)》第一次作业答案 欢迎你，周婷婷(FC312214008) 你的得分：81.0 完成日期：2014年03月03日19点16分 说明：每道小题括号里的答案是您最高分那次所选的答案，标准答案将在本次作业结束(即2014年03月13日)后显示在题目旁边。 一、单项选择题。本大题共15个小题，每小题3.0 分，共45.0分。在每小题给出的选项中，只有一项是符合题目要求的。 1.某人每年年末存入银行10000元，年利率是6%，求5年后的本利和。在这个题 中，5年后的本利应该由10000乘以（） ( c ) A.年金现值系数 B.单利现值系数 C.年金终值系数 D.复利终值系数 2.资金的时间价值可用绝对数、（）两种形式表示。 ( A ) A.相对数 B.成数 C.概率 D.常数 3.企业资金的来源有两方面：一个方面是由投资人提供的，即（）；另一个方面是由 债权人提供的，即负债。 ( B ) A.资本金 B.所有者权益 C.固定资产 D.流动资产 4.某企业上年度和本年度的流动资产平均占用额分别为100万元和120万元，流动 资产周转天数分别为60天和45天，则本年度比上年度的销售收入增加了（）万元。 ( D ) A.240 B.180 C.320 D.360 5.固定资产的经济折旧年限同物理折旧年限相比（）。( B ) A.前者长 B.前者短 C.两者一样 D.无法计量 6.销售成本对平均存货的比率，称为( )
( D ) A.营业周期 B.应收帐款周转率 C.资金周转率 D.存货周转率 7.短期投资的目的是（）。 ( D ) A.将资金投放于其他企业以谋求经营性收益 B.将资金分散运用以防范风险 C.利用控股方式实现企业扩张 D.利用生产经营暂时闲置资金谋求收益 8.无形资产的转让包括所有权转让和使用权转让两种方式，无论哪种转让方式取得的 收入，均计入企业的（）。( b) A.产品销售收入 B.其他销售收入 C.营业外收入 D.投资净收益 9.某产品一级品比重为60%，单价为6元，二级品比重为30%，单价为5元，三级 品的比重占10%，单价为4元，则该产品的平均价格为（）( B ) A.5元 B. 5.5元 C.6元 D.6.4元 10.下列哪一个不属于期间费用（） ( B ) A.营业费用 B.制造费用 C.管理费用 D.财务费用 11.资金市场按交易性质可分为（）。 ( c ) A.一级市场与二级市场 B.货币市场与资本市场 C.证券市场与借贷市场 D.资金市场、外汇市场与黄金市场 12.按照行驶里程计算固定资产折旧额，每行驶里程的折旧额是（）。 ( C ) A.递增的 B.递减的 C.相同的 D.不相同的 13.功能成本比值指的是功能与下列哪个的比值（） ( B )
問侯語或開場白的寒喧（Greetings） 開場白很重要，最常用的問候是“Ladies and gentlemen”，但要視場合而定。例如在會議討論會場合時，經由主席介紹上台時可先說Mr.Chairman,Honorable guest,Ladies and gentlemen,good morning ,It's very great pleasure indeed for me to be able to attend this meeting 主席先生，各位貴賓，各位女士，先生早安． 非常榮幸能參加這次的會議。或者你也可以說I'm hornored and proud to have the opportunity to speak at this meeting . 禮貌性的問侯語這是對主持人和來賓的一種尊重。 開始簡報（opening a presentation）—提出簡報摘要 在正式進入主題之前可先扼要說明簡報的內容與順序，幫助聽眾了解您的報告的大概內容。 例１．Today I would like to present my paper“The challenges of pharmacy practice in Taiwan”,In the first part of the report ,I'm going to begin with a few general comments concerning the Taiwan Medical care enviroment recently, and then discuss in more detail specific issue which concerned community pharmacy, and how the National Health cave Insurance influence the future of pharmacist career? 例２．你亦可將要簡報的摘要條列式的依序說明。 My presentation will cover the following aspects: professional pharmacy practice as part of the health -care system Safe distribution of medicine co-operation for better drug therapy promotion of good health Remuneration for pharmaceutical servicss 進入主題（Main points）—演講部份的主要內容，論證與比較事實。對所要簡報主題內容逐一詳細說明。例如將上例每一項摘要逐項詳細闡釋說明，依序讓文章或演說有系統的講解。在presentation 時如果能井然有序的，依段落分明，串聯成一篇完整文章，聽眾必定能印象深刻。
学术报告的英文开场白 篇一：英文学术报告开场白、结束语 問侯語或開場白的寒喧 開場白很重要，最常用的問候是“Ladies and gentlemen”，但要視場合而定。例如在會議討論會場合時，經由主席介紹上台時可先說,Honorable guest,Ladies and gentlemen,good morning ,It's very great pleasure indeed for me to be able to attend this meeting 主席先生，各位貴賓，各位女士，先生早安． 非常榮幸能參加這次的會議。或者你也可以說I'm hornored and proud to have the opportunity to speak at this meeting . 禮貌性的問侯語這是對主持人和來賓的一種尊重。 開始簡報—提出簡報摘要 在正式進入主題之前可先扼要說明簡報的內容與順序，幫助聽眾了解您的報告的大概內容。 例１．Today I would like to present my paper“The challenges of pharmacy practice in Taiwan”,In the first part of the report ,I'm going to begin with a few general comments concerning the Taiwan Medical care enviroment recently, and then discuss in more detail specific issue which concerned community pharmacy, and how the
When God Created Fathers When the good Lord was creating fathers, He started with a tall frame. A female angel nearby said, “What kind of father is that? If you are going to make children so close to the ground, why have you put the father up so high? He will be able to shoot marbles（弹子游戏） without kneeling, tuck a child in bed without bending, or even kiss a child without a lot of stooping（弯腰）.” And God smiled and said, “Yes, but if I make him child size, who would chil dren have to look up to?” And when God made a father?s hands,they were large and sinewy. And the angel shook her head sadly and said, “Do you know what you?re doing? Large hands are clumsy. They can?t manage diaper pins别针, small buttons, rubber bands橡皮筋on pony tails马尾, or even remove splinters碎片caused by baseball b ats.” God smiled and said, “I know, but they are large enough to hold everything a small boy empties from his pockets at the end of a day, yet small enou gh to cup a child?s face.” Then God molded long slim legs and broad shoulders. The angel nearly had a heart attack. “Boy, this is the end of the we ek, all right,” she clucked. “Do you realize You just made a father without a lap? How is he going to pull a child close to him without the kid falling between his legs?” God smiled and said, “A mother need s a lap大腿. A father needs strong shoulders to pull a sledge雪橇, balance a boy on a bicycle or hold a sleepy head on the way home from the circus.” God was in the middle of creating two of the largest feet anyone had ever seen when the angel could contain he rself no longer. “That?s not fair. Do you honestly think those large boats are going to get out of bed early in the morning when the baby cries? Or walk through a small birthday party without crushing at least three of the guests?” And God smiled and said, “They?ll work. You?ll see. They?ll support a small child who wants to …ride a horse to Banbury Cross? or scare off mice at the summer cabin, or display shoes that will be a challenge to fill.” God worked through the night, giving the father few words, but a firm authoritative voice; eyes that see everything, but remain calm and
1、某企业拟进行一项存在一定风险的完整工业项目投资，有甲、乙两个方案可供选择：已知甲方案净现值的期望值为1000万元，标准离差为300万元；乙方案净现值的期望值为1200万元，标准离差为330万元下列结论中正确的是（）。（2002年） A、甲方案优于乙方案 B、甲方案的风险大于乙方案 C、甲方案的风险小于乙方案 D、无法评价甲乙方案的风险大小 [答案]B 解析]当两个方案的期望值不同时，决策方案只能借助于标准离差率这一相对数值。标准离差率＝标准离差/期望值，标准离差率越大，风险越大；反之，标准离差率越小，风险越小。甲方案标准离差率＝300/1000＝30%；乙方案标准离差率＝330/1200＝27.5％。显然甲方案的风险大于乙方案。 2、已知甲方案投资收益率的期望值为15%，乙方案投资收益率的期望值为12%，两个方案都存在投资风险。比较甲、乙两方案风险大小应采用的指标是（）。（2003年） A、方差 B、净现值 C、标准离差 D、标准离差率 [答案]D [解析]标准离差仅适用于期望值相同的情况，在期望值相同的情况下，标准离差越大，风险越大；标准离差率适用于期望值相同或不同的情况，在期望值不同的情况下，标准离差率越大，风险越大。 3、[2005年单选题]将企业投资区分为固定资产投资、流动资金投资、期货与期权投资等类型所依据的分类标志是（）。 A. 投入行为的介入程度 B. 投入的领域 C. 投资的方向 D. 投资的内容 【答案】D 【解析】根据投资的内容，投资可以分为固定资产投资、无形资产投资、开办费投资、流动资金投资、房地产投资、有价证券投资、期货与期权投资、信托投资、保险投资等。 4、[2002年单选题] 某完整工业投资项目的建设期为零，第一年流动资产需用额为1000万元，流动负债需用额为400万元，则该年流动资金投资额为（）万元。 A．400 B．600 C．1000 D．1400 【答案】B 【解析】企业需要的垫支的流动资金，应该是增加的营运资金净额，即增加的流动资产减增加的流动负债。 5、[2004年单选题] 企业拟投资一个完整工业项目，预计第一年和第二年相关的流动资产需用额分别为2000万元和3 000万元，两年相关的流动负债需用额分别为1 000万元和1 500万元，则第二年新增的流动资金投资额应为（）万元。 A．2 000 B．1 500 C．1 000 D．500 【答案】D 【解析】第二年新增的流动资金投资额=第二年的营运资金-第一年的营运资金=（3 000-1500）-（2 000-1 000）=500（万元），选项D正确。 6、[2005年单选题]下列各项中，不属于投资项目现金流出量内容的是（）。 A.固定资产投资 B.折旧与摊销 C.无形资产投资 D.新增经营成本
in my 1 years of life, there have been many things. university days are the best part of them. i can never f et the days when i stepped into my university. i was impressed by its garden-like campus, its enthusiastic students and especially its learning atmosphere. i at once fell in love with it. after the arduous military training, i get absolutely absorbed in my studies. the classes given by the teachers are excellent. they provide us with information not only from our textbooks but from many other sources as well. they easily arouse my insatiable desire to take in as much as i can. frankly speaking, at first i had some difficulty following the teachers. however, through my own efforts and thanks to my teachers' guidance, i made remarkable progress. now i've benefited a lot from lectures and many other academic reports. learning is a long process; i'll keep exploring in the treasure house of knowledge to enrich myself. this summer i got out of the ivory tower and entered the real world. a publishing house offered me a part-time jo b in pilation and revision. at the beginning i was belittled by my colleagues. but they were really surprised when i translated seven english articles over 5, words on only one day. gradually, they began to look at me with respectful eyes. in their opinion i turned out to be a useful and trustworthy colleague. i also realize that only those who bring happiness for others can be truly happy. so i often take part in activities concerning public welfare. i once went to a barren mountain village with my classmates. we taught the kids there who could not afford school. while showing them how broad and how civilized the outer world is, i was deeply touched by their eagerness to learn, their honesty and their purity. i couldn't control my tears on the day when we left. the precious experience with the poor kids made me aware of the responsibility on the shoulders of us, future teachers. besides study and social practice, there are entertainments as well. i do body building every day, hoping to keep healthy and energetic. we also write a play and put it on in our spare time. campus life is the most splendid time. but different people have different choices. the majority of students cherish their beautiful season and cherish the hope that one day they'll be e outstanding. but there are indeed some students still under ignorance. they gather together for eating, drinking or playing cards. they're busy in searching for a girlfriend or a boyfriend. they f et pletely about their mission as college students and the hope of their motherland. finally, i do hope everybody can try their best to be e a worthy citizen of the country. i do hope everybody can be e the backbone of our nation and make great
These Things Shall Never Die 这些美好不会消逝 By --Charles Dickens/查尔斯.狄更斯 The pure.the bright,the beautiful, 一切纯洁的,辉煌的,美丽的, That stirred our hearts in youth, 强烈地震撼着我们年轻的心灵的, The impulses to wordless prayer, 推动着我们做无言的祷告的, The dreams of love and truth; 让我们梦想着爱与真理的; The longing after something's lost, 在失去后为之感到珍惜的, The spirit's yearning cry, 使灵魂深切地呼喊着的, The striving after better hopes- 为了更美好的梦想而奋斗着的- These things can never die. 这些美好不会消逝。 The timid hand stretched forth to aid 羞怯地伸出援助的手， A brother in his need, 在你的弟兄需要的时候， A kindly word in grief's dark hour 伤恸、困难的时候，一句亲切的话 That proves a friend indeed ; 就足以证明朋友的真心； The plea for mercy softly breathed, 轻声地乞求怜悯， When justice threatens nigh, 在审判临近的时候， The sorrow of a contrite heart- 懊悔的心有一种伤感-- These things shall never die. 这些美好不会消逝。 Let nothing pass for every hand 在人间传递温情 Must find some work to do ; 尽你所能地去做； Lose not a chance to waken love- 别错失去了唤醒爱的良机----- Be firm,and just ,and true; 为人要坚定，正直，忠诚；
英文学术报告怎么写？Write an Academic Report 学术报告（academic report or paper）的写作包括阅读，思考，针对一个学术课题进行案例分析及写作，总体来说就是为了让你的读者以新的眼光来看待该课题。大学的学术报告与你之前所做过的其他类型的报告（如高中时期为完成老师布置的作业而写的报告）的不同之处在于，它既陈述了研究事实，又提出了你自己的推论。 写作过程指导： 1. 研究及总结（Research and Summarize） 研究所选的课题，找出针对课题的“who（谁），what（什么），when（何时），why（为什么）及how（如何）”的答案。总结收集到的信息，清楚自己所掌握的，评估自己所不知道的，以便专注于进一步的研究方向。列出一个参考书目来引用并避免抄袭。 阅读原始文献及补充信息并考虑关于课题的历史或流行观点。思考每篇文章的要点同时注意它们的共性。缩小你的课题范围这样你就可以准备写一篇充满智慧的报告了。 2．定义结构（Define the Structure） 定义报告的结构并将你的论点串联成一个连贯的推理。依据报告的主题制定一个大纲。以这种方式组织你的观点可以帮助你看到各个观点之间的关系。 大纲中的所标题结构要统一。例如如果你的第一个标题以一个行为动词（action verb）开头，那么所有其他标题都应该以行为动词开头。副标题（Sub-heading）应该包含支撑大标题的细节。重组你的大纲直到它能清晰的反映一个思想逻辑流程。 3. 写正文（Write your paper）
学术报告通常包含五个部分:标题页，引言（包含论文主题），背景信息，关于论点及结论的细节，陈述支持或反对某个特点观点的争论。 用辅助段落来讲述一个故事，提供一个观察的视角，描述一个过程，定义意义，对思想进行分类，比较和对比观点，类推或解释为什么这种现象会发生。提供证据，陈述假设并适当添加个人观点使论文连贯、清晰易懂。确保每段都有足够的结束语及过渡句。在学术报告中尽量减少使用个人代词如“我”。 4. 校对（Proofread） 打印并大声朗读报告来检查错误。保证报告没有语法及格式错误。 至此一篇英文学术报告就完成了，当然在做报告之前还要加强学术英语的学习，背诵一些相关专业的词汇和术语，并尽量多阅读一些英文的专业文献，做好基本功。 更多学习资料请见美联英语学习网。
英语诗歌朗诵稿10篇 在诗歌创作中，语言的物质性既是与生俱来的内在物性，也是许多诗人非常强调且自觉表现的文本特征。以下是英语诗歌朗诵稿10篇，欢迎阅读。 What is pink? A rose is pink 什么是粉红? By the fountain's brink. 喷泉边的玫瑰就是粉红色。 What is red? A poppy's red 什么是艳红色? In its barley bed. 在大麦床里的**花就是艳红色。 What is blue? The sky is blue 什么是蔚蓝色?天空就是蔚蓝色， Where the clouds float thro'. 云朵飘过其间。 What is white? A swan is white 什么是白色? Sailing in the light. 阳光下嬉水的天鹅就是白色。 What is yellow? Pears are yellow, 什么是黄色?梨儿就是黄色， Rich and ripe and mellow. 熟透且多汁。 What is green? The grass is green, 什么是绿色?草就是绿色， With small flowers between. 小花掺杂其间。 What is violet? Clouds are violet 什么是紫色?夏日夕阳里的 In the summer twilight. 彩霞就是紫色。
What is orange? Why, an orange, 什么是橘色?当然啦! Just an orange! 橘子就是橘色。 A house of cards 纸牌堆成的房子 Is neat and small; 洁净及小巧 Shake the table, 摇摇桌子 It must fall. 它一定会倒。 Find the court cards 找出绘有人像的纸牌 One by one; 一张一张地竖起 Raise it, roof it,---- 再加上顶盖 Now it's done;---- 现在房子已经盖好 Shake the table! 摇摇桌子 That's the fun. 那就是它的乐趣。 What does little birdie say, 小鸟说些什么呢? In her nest at peep of day? 在这黎明初晓的小巢中? Let me fly, says little birdie, 小鸟说，让我飞，Mother, let me fly away, 妈妈，让我飞走吧。 Birdie, rest a little longer, 宝贝，稍留久一会儿，Till the little wings are stronger. 等到那对小翅膀再长硬些儿。 So she rests a little longer, 因此它又多留了一会儿，
《财务管理学》第四章作业及答案课本P163练习题1和2 一、名词解释 1. 股权资本 2. 直接筹资 3．敏感资产 4．扩张性筹资动机 5．转换价格 6．售后租回 二简答题 1 简述企业筹资的渠道与方式 2 简述普通股筹资与长期借款筹资的优缺点 二七星公司的有关资料如下： 1．七星公司预计2001年需要增加外部筹资49 000元。 2．该公司敏感负债与销售收入的比率为18%，税前利润占销售收入的比率为8%，所得税率33%，税后利润50%留用于企业。 3． 2000年销售收入为15 000 000元，预计2001年销售收入增长15%。 要求： 1 测算2000年当年留用利润额。 2 测算2001年资产增加额。 三甲公司2008年资产负债表如下，2008年销售收入为3000万元，预计2009年销售收入为4000万元。预计资产负债表如下：
2008年甲公司净利润占销售收入的比例为10.6%，所得税税率为33%，企业利润的留存比例为40%。 1．计算甲公司2009年外部筹资额。 2．假设2009年甲公司决定将应收票据于应付票据也确定为敏感项目，并且固定资产增加50万元，长期应付款增加35万元，计算甲公司2009年的外部筹资额。
一、名词解释 1. 股权资本: 也称权益资本、自有资本，是企业依法取得并长期拥有、自主调配运用的资本，如实收资本、留存收益等. 2. 直接筹资: 指企业不经过银行等金融机构，直接与资本所有者协商融通资本的一种筹资活动。如投入资本、发行股票等 3．敏感资产: 与销售有基本不变比率关系的资产，一般包括现金、应收账款、存货等项目。 4．扩张性筹资动机：企业因扩大生产经营规模或追加对外投资的需要而产生的筹资动机。 5．转换价格：用可转换债券交换股票的每股价格。（我国规定，上市公司发行可转换债券的，以发行可转换债券前一个月股票的平均价格为基准，上浮一定幅度作为转换价格。） 6．售后租回：制造企业按照协议先将其资产卖给租赁公司，再作为承租企业将所售资产租回使用，并按期向租赁公司支付租金的租赁方式。 二简答题 1 简述企业筹资的渠道与方式 （1）筹资渠道是指企业筹集资本来源的方向与通道，体现着资金的源泉和流量。企业的筹资渠道有如下七种：政府财政资本；银行信贷资本；；非银行金融机构资本；其他法人资本；民间资本；企业内部资本；国外和我国港澳台资本。 （2）企业筹资方式是指企业筹集资本所采取的具体形式和工具，体现着资本的属性和期限。企业筹资方式一般有下列七种：投入资本筹资；发行股票筹资；发行债券筹资；发行商业本票筹资；银行借款筹资；商业信用筹资；租赁筹资。 （3）一定的筹资方式可能只适用于某一特定的筹资渠道；但同一筹资渠道的资本往往可以采取不同的筹资方式获得，而同一筹资方式又往往可以适用于不同的筹资渠道。因此，企业在筹资时，必须实现两者的合理配合。 2 简述普通股筹资与长期借款筹资的优缺点 （1）普通股筹资的优缺点 普通股筹资的优点：利用普通股筹资的风险小，普通股筹资没有固定的股利负担；普通股股本没有固定的到期日，无需偿还，它是公司的永久性资本，除非公司清算时才予以偿还；发行普通股筹集自有资本能增强公司的信誉。普通股股本以及由此产生的资本公积金和盈余公积金等，是公司筹措债务的基础。 普通股筹资的缺点：资本成本较高。一般而言，普通股筹资的成本要高于借入资金；利用普通股筹资，出售新股票，增加新股东，可能会分散公司的控制权；另一方面，新股东对公司已积累的盈余具有分享权，这就会降低普通股的每股净收益，从而可能引起普通股市价的下跌；如果今后发行新的普通股票，可能导致
英文学术报告怎么写？ 学术报告尤其是英文学术报告的写作对于中国学生来说是一个薄弱环节，反之，国外的教育对此则相当重视。去国外学习，各种课程都可能要求你写报告，特别是商业、科学或技术类学科。依据内容及导师要求的不同，报告的形式可能有所差别，但是写作的过程却是相似的。美联英语学习网向您介绍英文学术报告怎么写？ 学术报告（academic report or paper）的写作包括阅读，思考，针对一个学术课题进行案例分析及写作，总体来说就是为了让你的读者以新的眼光来看待该课题。大学的学术报告与你之前所做过的其他类型的报告（如高中时期为完成老师布置的作业而写的报告）的不同之处在于，它既陈述了研究事实，又提出了你自己的推论。 写作过程指导： 1. 研究及总结（Research and Summarize） 研究所选的课题，找出针对课题的“who（谁），what（什么），when（何时），why（为什么）及how（如何）”的答案。总结收集到的信息，清楚自己所掌握的，评估自己所不知道的，以便专注于进一步的研究方向。列出一个参考书目来引用并避免抄袭。 阅读原始文献及补充信息并考虑关于课题的历史或流行观点。思考每篇文章的要点同时注意它们的共性。缩小你的课题范围这样你就可以准备写一篇充满智慧的报告了。 2．定义结构（Define the Structure） 定义报告的结构并将你的论点串联成一个连贯的推理。依据报告的主题制定一个大纲。以这种方式组织你的观点可以帮助你看到各个观点之间的关系。
大纲中的所标题结构要统一。例如如果你的第一个标题以一个行为动词（action verb）开头，那么所有其他标题都应该以行为动词开头。副标题（Sub-heading）应该包含支撑大标题的细节。重组你的大纲直到它能清晰的反映一个思想逻辑流程。 3. 写正文（Write your paper） 学术报告通常包含五个部分:标题页，引言（包含论文主题），背景信息，关于论点及结论的细节，陈述支持或反对某个特点观点的争论。 用辅助段落来讲述一个故事，提供一个观察的视角，描述一个过程，定义意义，对思想进行分类，比较和对比观点，类推或解释为什么这种现象会发生。提供证据，陈述假设并适当添加个人观点使论文连贯、清晰易懂。确保每段都有足够的结束语及过渡句。在学术报告中尽量减少使用个人代词如“我”。 4. 校对（Proofread） 打印并大声朗读报告来检查错误。保证报告没有语法及格式错误。 至此一篇英文学术报告就完成了，当然在做报告之前还要加强学术英语的学习，背诵一些相关专业的词汇和术语，并尽量多阅读一些英文的专业文献，做好基本功。
少儿英语诗歌朗诵稿： Bring It all Back Don't stop, never give up, Hold your head high Reach the top. Let the world see what you have got, Bring it all back to you. Hold on what you try to be, Your individuality. When the world is on your shoulders, Just smile and let it go. If people try to put you down, Just walk on by, don't turn around, You only have to answer to yourself. Don't you know it's true what they say, That life, it isn't easy, But your time's coming around, So don't you stop trying. Dream of falling in love, Anything you've been thinking of, When the world seems to get too tough, Bring it all back to you. Try not to worry 'bout a thing. Enjoy the times life can bring. Keep it all inside you, Gotta let the feelings show. Imagination is the key, 'Cause you are your own destiny. You never should be lonely, When time is on your side. Don't you know it's true what they say, Things are sent to try you. But your time's coming around, So don't you stop trying. Don't you know it's true what they say, Things happen for a reason. But your time's coming around, So don't you stop trying. [参考译文] 找回自己 不要停顿，永不放弃， 高昂起头 到达顶峰。 让世界看见你的收获， 找回自己。 坚持自己想达到的境地， 坚持自我。 当世界的重担压到了你的肩头时，笑一笑，让它去。 如果有人打击你， 走过去，不要回头， 你只须负责自己。 难道你不知道他们说的是真的，生活，不容易， 但你的时机将会来到， 千万别停滞不进取。 梦想自己坠入了情网， 自己想过的任何事情， 当世界仿佛变得太艰难时， 找回自己。 努力不为任何事担忧， 享受生活能带来的好时光。 让这一切留在你心里， 得让自己的感情流露。 幻想就是答案， 因为你就是自己的命运。 你永远不必孤独， 当时间支持着你。 难道你不知道他们说的是真的，这些事都是为了考验你。 但你的时机将会来到， 千万别停滞不进取。 难道你不知道他们说的是真的，事情发生都有道理。 但你的时机将会来到， 千万别停滞不进取。
《财务管理(Ⅰ)》第一次作业答案 你的得分：100.0 完成日期：2020年06月16日13点21分 说明：每道小题选项旁的标识是标准答案。 一、单项选择题。本大题共15个小题，每小题3.0 分，共45.0分。在每小题给出的选项中，只有一项是符合题目要求的。 1.某人每年年末存入银行10000元，年利率是6%，求5年后的本利和。在这个题 中，5年后的本利应该由10000乘以（） A.年金现值系数 B.单利现值系数 C.年金终值系数 D.复利终值系数 2.资金的时间价值可用绝对数、（）两种形式表示。 A.相对数 B.成数 C.概率 D.常数 3.企业资金的来源有两方面：一个方面是由投资人提供的，即（）；另一个方面是由 债权人提供的，即负债。 A.资本金 B.所有者权益 C.固定资产 D.流动资产 4.某企业上年度和本年度的流动资产平均占用额分别为100万元和120万元，流动 资产周转天数分别为60天和45天，则本年度比上年度的销售收入增加了（）万元。 A.240 B.180 C.320 D.360 5.固定资产的经济折旧年限同物理折旧年限相比（）。
A.前者长 B.前者短 C.两者一样 D.无法计量 6.销售成本对平均存货的比率，称为( ) A.营业周期 B.应收帐款周转率 C.资金周转率 D.存货周转率 7.短期投资的目的是（）。 A.将资金投放于其他企业以谋求经营性收益 B.将资金分散运用以防范风险 C.利用控股方式实现企业扩张 D.利用生产经营暂时闲置资金谋求收益 8.无形资产的转让包括所有权转让和使用权转让两种方式，无论哪种转让方式取得的 收入，均计入企业的（）。 A.产品销售收入 B.其他销售收入 C.营业外收入 D.投资净收益 9.某产品一级品比重为60%，单价为6元，二级品比重为30%，单价为5元，三级 品的比重占10%，单价为4元，则该产品的平均价格为（） A.5元 B. 5.5元 C.6元 D.6.4元 10.下列哪一个不属于期间费用（） A.营业费用 B.制造费用 C.管理费用 D.财务费用 11.资金市场按交易性质可分为（）。 A.一级市场与二级市场 B.货币市场与资本市场 C.证券市场与借贷市场
英语诗歌朗诵稿 Lake of Autumn I remember quite clearly now when the story happened. The autumn leaves were floating in measure down to the ground, recovering the lake, where we used to swim like children, under the sun was there to shire. That time we used to be happy. Well, I thought we were. But the truth was that you had been longing to leave me, not daring to tell me. On that precious night, watching the lake, vaguely conscious. You said:" our story is ending." The rain was killing the last days of summer, you had been killing my last breath of love, since a long time ago. I still don't think I'm gonna make it through another love story. You took it all away from me. And there I stand, I knew I was going to be the one left behind. But still I'm watching the lake, vaguely conscious, and I know my life is ending. 英语诗歌朗诵稿二 These Things Shall Never Die 这些美好不会消逝 By --Charles Dickens/查尔斯.狄更斯 The pure.the bright,the beautiful, 一切纯洁的,辉煌的,美丽的,