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Accounting Basics英语会计基础教学课件(4)

Accounting Basics英语会计基础教学课件(4)

(to record return of unwanted inventory purchased on account)
ACCY901 A'12
Recording freight costs


If the buyer pays the freight costs, these are treated as part of the cost of the inventory. BUT, we still record freight costs in a separate account This is the SAME entry for the periodic and perpetual systems
Operating cycles
4
SERVICE BUSINESS
Perform service Accounts receivable Send invoice Receive cash
MERCHANDISING BUSINESS
Buy inventory Sell inventory Accounts receivable Send invoice Receive cash
Date Account Debit Credit
Nov 1 Inventory
5,000
Nov 1 le
5,000
Accounts payable
5,000
(to record purchase of inventory on account)

D E
Thursday Thursday
9:30 12:30
19-G006 19-2085
F
Friday

AccountingBasics英语会计基础教学课件期末复习

AccountingBasics英语会计基础教学课件期末复习

Chapter 6 - Inventories Chapter 7 - Accounting information systems Chapter 8 - Internal control and cash Chapter 9 - Accounting for receivables Chapter 11 - Current liabilities Chapter 10 - Non-current assets (PPE) Chapter 16 - Non-current liabilities Chapter 14 - Share capital Chapter 15 - Dividends & retained earnings Chapter 19 - Financial statement analysis
Week 13
Revision and exam preparation
Things to cover this week
Subject evaluation Exam overview Preparation techniques Overview of topics Remember: if you have something to ask
One of the compulsory financial statements for annual reporting by companies (along with Balance Sheet and Income Statement)
A lot of financial information in the cash flow statement
How do the chapters fit together?

AccountingBasics英语会计基础教学

AccountingBasics英语会计基础教学

2
STATEMENT OF CASH FLOWS: USEFULNESS AND FORMAT
LO1
• A statement of cash flows provides
information about an entity’s cash receipts and cash payments during a period
• Ability to pay dividends and meet obligations • Reasons for difference between profit and net
cash provided (used) by operating activities • Cash investing and financing transactions for the period
1
• Indicate the usefulness of the statement of cash
flows • Distinguish among operating, investing and financing activities • Prepare a statement of cash flows using the direct method • Statement of cash flows- the indirect method
8
Significant non-cash activities
• Significant financing and investing activities that
do not affect cash are not reported in the body of the statement of cash flows, but are disclosed elsewhere in the financial statement • Examples include …

AccountingBasics英语会计基础教学课件

AccountingBasics英语会计基础教学课件
When should Penny record the telephone expense?
The $400 is still a March expense because this is the period in which the expense was incurred. The actual cash won’t go out until April, but the expense is still a March expense.
We need to make sure that asset and liability balances are accurately reflected at the end of the accounting period
Adjusting entries occur after the transactions have been recorded and posted, but before the financial statements are prepared
4
Before we start…
Last week we looked at transactions analysis, journal entries and general ledger accounts…Elena Lee example
Transaction
1 October, office rent for October is paid in cash, $1800
.au/student/services/pass
Chapter 3: Adjusting the accounts
Week 3
2
BEFORE WE START….

2019年最新-AccountingBasics英语会计基础教学课件-精选文档

2019年最新-AccountingBasics英语会计基础教学课件-精选文档

How much revenue should Penny record for 2019? Revenue for 2019 would be $22,400
Why?
Sales – Cash
$20,000
Sales – Accounts receivable $ 2,400
Total sales for 2019
debit. To increase balance debit again, to credit. To increase balance credit again,
decrease credit out of the account.
to decrease debit out of the account.
7
Accrual versus cash basis of accounting
Cash-based accounting
Revenue recognised when the cash is received or paid.
Accrual-based accounting
Revenue recognised when goods and services are provided
Expenses recognised when the cash is received or paid
8
Expenses recognised when assets are consumed or liabilities incurred
Cash versus accrual basis
Basic analysis
The expense Rent is increased $1800 because the payment pertains only to the current month; the asset Cash is decreased $1800

Accounting Basics英语会计基础教学(3)PPT课件

Accounting Basics英语会计基础教学(3)PPT课件

Journal entry Posting
Oct 1 Rent Expense
601 1800
Cash
101
(Paid October rent)
1800
Rent Expense 601 Oct 1 1800
Cash
101
Oct 1 800
7
This week…
Accrual versus cash basis of accounting Revenue recognition criteria Expense recognition criteria Types of adjusting entries Prepayments Accruals Adjusted trial balance Worksheets Financial statements from worksheets
.au/student/services/pass
1
第一部分
整体概述
THE FIRST PART OF THE OVERALL OVERVIEW, PLEASE SUMMARIZE THE CONTENT
2
Chapter 3: Adjusting the accounts
Expenses recognised when the cash is received or paid
Expenses recognised when assets are consumed or liabilities incurred
9
Cash versus accrual basis
Accrual basis
Income example: assume Penny received $20,000 in cash for sales during 2011 and charged clients $2,400 which was to be paid in the following year.

Accounting Basics英语会计基础教学课件.ppt

Accounting Basics英语会计基础教学课件.ppt
Chapter 7 Accounting information systems
1
•Basic principles of accounting information systems •Nature and purpose of a subsidiary ledger •How special journals are used •How to use a multicolumn journal •NOTE: download templates of all these journals from the elearning space!
Relevant, reliable, understandable, timely, comparable
Flexibility
Technological advances, increased competition, changing accounting principles, organisational growth, government regulation and de-regulation
Developing an accounting system
4
1. Analysis
Planning and identifying information needs and sources
2. Design
Creating forms, documents, procedures, job descriptions and reports
Examples
Sales journal Cash receipts journal Purchases journal Cash payments journal

Accounting Basics英语会计基础教学(8)PPT课件

Accounting Basics英语会计基础教学(8)PPT课件
continued
Factors influencing new share issue price include:
o Anticipated future earnings o Expected dividend rate per share o Current financial position o Current state of the economy o Current state of the securities market
7
Share issue considerations
Issue of Shares
A company can issue ordinary shares
o Directly to investors, or o Indirectly through an underwriter (such as an
o The total amount of cash and other assets paid to the company by shareholders
o Share may be ordinary or preference shares
10
Shareholders’ equity
5
Forming a company
Application filed with ASIC showing
o Name and purpose of company o Number and types of shares o Names of incorporators
Company constitution regulates internal management
4
Characteristics of a

会计英语—基础会计演示版.ppt

会计英语—基础会计演示版.ppt

raw material 原材料
direct material 直接材料
最新.课件
36
direct labor 直接工资
manufacturing overhead
制造费用
work in progress 在产品
cost of goods manufactured
完工产品成本
source document 原始凭证
最新.课件
22
subsidiary ledgers 明细分类账
trial balance 试算平衡表
error correction 差错更正
最新.课件
23
Chapter 6
最新.课件
24
accumulated depreciation
累计折旧
adjusting entries 调整分录
adjusted trial balance
调整后试算平衡
contra-asset account 备抵账户
最新.课件
25
closing entries 结账分录
capital stock 股本
depreciation expense
会计英语
基础会计
最新.课件
1
Chapter 1
最新.课件
2
accounting 会计，会计学
enterprise 企业
information system 信息系统
business 商业，企业
最新.课件
3
decision making 制定决策
bookkeeping 簿记
cash-basis 现金收付制
accrual-basis 权责发生制（应计制）

AccountingBasics英语会计基础教学课件期末复习

AccountingBasics英语会计基础教学课件期末复习
MANAGEMENT ACCOUNTING
Important to understand the difference between management accounting information and financial accounting information.
Understanding how costs influence business activities is important for all business/commerce majors, not just accounting
Week 13
Revision and exam preparation
Things to cover this week
Subject evaluation Exam overview Preparation techniques Overview of topics Remember: if you have something to ask
EVERYONE wants it!!! So, we need internal control procedures. A fundamental internal control procedure for cash is the bank
reconciliation statement. In Week 5, our example was Friends Ltd. Key items in a bank reconciliation
Chapter 6 - Inventories Chapter 7 - Accounting information systems Chapter 8 - Internal control and cash Chapter 9 - Accounting for receivables Chapter 11 - Current liabilities Chapter 10 - Non-current assets (PPE) Chapter 16 - Non-current liabilities Chapter 14 - Share capital Chapter 15 - Dividends & retained earnings Chapter 19 - Financial statcapital, dividends & retained earnings
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10
Format of the statement of cash flows
COMPANY NAME Statement of Cash Flows
Period covered
Cash flows from operating activities (List of individual items)
• What was the cash used for during the period? • What was the change in the cash balance during
the period?
4
Usefulness of the statement of cash flows
(List of individual inflows and outflows)
Net cash from (used by) financing activities Net increase (decrease) in cash Cash at beginning of period Cash at end of period
Transactions between a company and its owners or between a company and its longterm creditors. Examples include:
Cash inflows from…
Cash outflows to…
Issuing shares and other
• Helps investors, creditors and other interested parties to evaluate the following about the entity:
• Ability to generate future cash flows • Ability to pay dividends and meet obligations • Reasons for difference between profit and net
equity instruments
Buy back shares
Issuing bonds and other Repay bonds and other
borrowings
borrowinБайду номын сангаасs
Pay dividends (cash dividend)
9
Significant non-cash activities
cash provided (used) by operating activities • Cash investing and financing transactions for the
period
5
Classification of cash flows
LO2
• Operating activities
TOTAL REVENUE
527,500
Cost of goods sold
276,300
Depreciation – plant & equipment
38,500
Other expenses
135,000
TOTAL EXPENSES
450,500
PROFIT BEFORE TAX
77,000
Income tax expense
• Examples include …
• Issue of shares to purchase assets • Conversion of bonds into shares • Issue of debt to purchase assets • Exchanges of PPE assets
1
CHAPTER 18 THE STATEMENT OF CASH FLOWS
2
• Indicate the usefulness of the statement of cash flows
• Distinguish among operating, investing and financing activities
Acquire non-current assets (PP&E, intangibles, share investments)
Repayments of loans advanced to other parties
Lend money to other parties
Financing activities
Listed elsewhere in the financial statement Material non-cash investing and financing activities (List of individual non-cash transactions)
xx xxx
xx xxx
A Ltd Statement of Comprehensive Income for the year ending 30 June 2019
Sales revenue
520,000
Interest revenue
4,300
Gain on sale of plant & equipment
2,500
• Significant financing and investing activities that do not affect cash are not reported in the body of the statement of cash flows, but are disclosed elsewhere in the financial statement
xx xxx
xxx xxx xxx
xxx
11
Preparing the statement of cash flows
There are 3 sources of information to prepare the statement of cash flows:
1 Comparative statements of financial position 2 Current income statement 3 Additional information (about transactions that
•Current asset and current liability transactions normally result from the operating activities of a company, such as buying and selling merchandise.
Investing activities
occurred during the period)
Preparing the statement of cash flowsExample
The following information has been provided on the following slides in relation to A Ltd for the year ending 30 June 2019:
43,500
53,400
Dividend payable
20,000
15,000
Share capital
250,000 450,000
Retained earnings
148,300 157,800
Total liabilities & equity
621,000 744,000
The acquisition/disposal of long-term assets and other investments during a financial period. . Examples include:
Cash inflows from…
Cash outflows to…
Sale of non-current assets (PP&E, intangibles, share investments)
• Financing activities
• Cash effects resulting from long-term borrowing and shareholders’ equity
6
Operating activities
•Are transactions involving the acquisition or production of goods and services and the sale and distribution of these goods and services to customers.
Statement of comprehensive income Statement of financial position Additional information
Required: Prepare the statement of cash flows of A Ltd for the year ending 30 June 2019 (using the direct method of disclosure for cash flows from operating activities)
744,000
A Ltd comparative Statement of Financial Position
2019
2019
Bond payable
120,000
36,700
Accounts payable