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Taxation Law01. Value Added Tax词汇Taxpayer：纳税人Account for：对……负有责任；说明……原因Purchasing goods：购进货物Taxable services：应税劳务Welfare：福利Work in process：半成品，通常简写为WIPSmall scale：小规模Exempt：（形容词）被免除的；被豁免的（动词）免除；豁免Article 3 Taxpayers dealing in goods or providing taxable services with different tax rates shall be accounted for separately. If the sales amounts have not been accounted for separately, the higher tax rates shall apply.第三条纳税人兼营不同税率的货物或者应税劳务，应当分别核算不同税率货物或者应税劳务的销售额；未分别核算销售额的，从高适用税率。
Article 7 Where the price used by the taxpayer in selling goods or taxable services is obviously low and without proper justification，the sales amount shall be determined by the competent tax authorities.第七条纳税人销售货物或者应税劳务的价格明显偏低并无正当理由的，由主管税务机关核定其销售额。
Article 10 Input tax of the following items shall not be credited against the output tax:（1）Goods purchased or taxable services used for Non-V AT taxable items, VAT exempt items, collective welfare or individual consumption;（2）Abnormal losses of goods purchased and related taxable services;（3）Goods purchased or taxable services that are consumed for work in progress or finished goods of abnormal losses.（4）Self-use consumer goods of the taxpayers provided by the competent authorities of finance and tax under the State Council;（5）Transportation expenses of the goods specified in Items （1）-（4）of this Article and the transportation expenses for selling tax-exempted goods.第十条下列项目的进项税额不得从销项税额中抵扣：（1）用于非增值税应税项目、免征增值税项目、集体福利或者个人消费的购进货物或者应税劳务；（2）非正常损失的购进货物及相关的应税劳务；（3）非正常损失的在产品、产成品所耗用的购进货物或者应税劳务；（4）国务院财政、税务主管部门规定的纳税人自用消费品；（5）本条第（一）项至第（四）项规定的货物的运输费用和销售免税货物的运输费用。
Economic Law01. Company Law词汇Initiator：发起人；创始者Stock flotation：募集设立Promotion：发起设立Object：对象Registered capital：注册资本Subscription：认购Down payment：（分期付款中的）头期款；预付定金Breach of contract：合同违约Registration application：登记申请Stipulate：（动词）规定Organ of power：权力机关；权力机构Unrecovered loss：未弥补的损失In presence：出席Dissolution：解散；（契约等的）解除Article 81 When a joint stock limited company is established by promotion, its registered capital shall be the total capital stock subscribed for by all the initiators as registered in the company registration authority. The minimum amount of initial capital contributions to be made by all initiators shall be not less than 20% of the total registered capital, and the remaining amount shall be paid off by the initiators within 2 years as of the day when the company is established, while for an investment company, the remaining amount may be paid off within 5 years. Before the registered capital is paid off, no stock may be offered to others for subscription. Where a joint stock limited company is established by stock floatation, its registered capital shall be the total actually paid capital stock as registered in the company registration authority. The minimum amount of the registered capital of a joint stock limited company shall be RMB 5 million Yuan. If any law or administrative regulation prescribes a relatively higher minimum amount of registered capital, such provision shall be followed.第八十一条股份有限公司采取发起设立方式设立的，注册资本为在公司登记机关登记的全体发起人认购的股本总额。
Unit OneAccounting Profession第一单元会计职业INTRODUCTION OF ACCOUNTING. Accounting is a process of recorded, classifying, summarizing, and interpreting of those business activities that can be in expressed in monetary terms. A person who specializes in this field is known as an accountant.会计简介会计是一个以货币形式对经济活动进行记录、分类、汇总以及解释的过程。
专门从事这方面工作的人员叫做会计师。
Accounting frequently offers the qualified person an opportunity to move ahead quickly in today’s business world. Indeed, many of the heads of large corporations throughout the world have advanced to their position from the accounting department. Accounting is a basic and vital element in every modern business. It records the past growth or decline of the business. Careful analysis of these results and trends may suggest the ways in which the business may grow in future. Expan-sion or reorganization should not be planned without proper analysis of the accounting informa-tion; and new products and the campaign to advertise and sell them should not be launched with-out the help of accounting expertise.会计这一职业在当今经济社会中给有能力的人提供了升迁的机会。
Financial Management and Cost Management01. Financing Sources词汇：Finance lease：融资租赁Lessee：承租人Lessor：出租人Minimum lease payment：最低租赁付款额Operating lease：经营租赁Warrant：认股权证Convertible bond：可转换债券Redeemable：可赎回的Other long-term finance 其他长期筹资Finance Lease1.The lease transfers ownership of the asset to the lessee by the end of the lease term.2.The lessee has the option to buy the asset at a price expected to be lower than fair value at the time the option is exercised.3.The lease term is for the major part of the economic life of the asset.4.At the beginning of the lease, the present value of the minimum lease payments （MLPˊs）is approximately equal to the fair value of the asset.5.The leased assets are of a specialized nature so that only the lessee can use them without major modification.融资租赁：·在租赁期届满时，租赁资产的所有权转移给承租人·承租人有购买租赁资产的选择权，所订立的购买价格预计将远低于行使选择权时租赁资产的公允价值·租赁期占租赁资产可使用年限的大部分·租赁开始日最低租赁付款额的现值几乎相当于租赁开始日租赁资产的公允价值·租赁资产性质特殊，如果不做重新改制，只有承租人才能使用Warrants 认股权证Warrants is a type of certificate issued by entity to shareholders, which allows holders to purchase prescribed amount of shares at prescribed price in the given period.认股权证是公司向股东发放的一种凭证，授权其持有者在一个特定期间以特定价格购买特定数量的公司股票。
Unit 1 Introduction to Accounting I．Key termsII．Reading Materials（I）AccountingAccounting is an information system. It measures business activities, processes data into reports, and communicates results to people.Recognition 确认Measurement 计量Record 记录Report 报告There are both external users (外部使用者) and internal users (内部使用者) of accounting information. We therefore classify accounting into financial accounting and management accounting.Financial accounting （财务会计）provides information for people outside the firm, such as Wall Street investors and bankers. Government agencies and the public are other external users. Financial accounting information must meet certain standards of relevance（相关）and reliability （可靠）.Management accounting （管理会计）generates inside information for internal decision makers, such as the managers. Management information is tailored to serve the company’s specific needs and thus does not have to meet external standards of reliability.（II）ObjectivesGeneral objectives of financial reporting include the followingFinancial reporting should provide information that is useful to external users in making rational investment （投资）, credit （信用）, and similar decisions.Investor：投资人risk & returnCreditor：债权人liquidity 流动性solvency 偿债能力Specific objectives of financial reporting show the types of information that should be included in specific financial reportsFinancial reporting should provide information about the economic resources (assets) of an entity, any claims （要求权）to those resources (liabilities), including obligations to transfer resources to other entities or to owner’s equity, and the effects of circumstances, transactions, and events that alter（改变）the entity’s resources and claims to those resources.Statement of Financial Position or Balance Sheet 财务状况表资产负债表Financial reporting should provide information about an entity’s comprehensive income and its components.Statement of Comprehensive Income 全面收益表Financial reporting should provide information about an entity’s cash flows.Statement of Cash flows 现金流量表（III）Accounting assumptions and conventionsMonetary unit （stable monetary unit concept）币值稳定假设In the United States, we record transactions in dollars. British accountants record transactions in pounds sterling, Japanese in yen, and Europeans in euro.Under the stable monetary unit concept, accountants assume that the do llar’s purchasing power is stable，ignoring the effect of inflation (通货膨胀) in the accounting records.Economic entityAn economic entity is any business enterprise, ranging from a sole proprietorship to a global corporation. The economic entity assumption distinguishes business enterprises from their owners and accounts for each separately （独立核算）.Going concernIt is assumed that the entity will continue in operation for the foreseeable future and it has neither the intention nor the necessity of liquidation （清算）or of curtailing （缩减）materially the scale of its operation.Periodic ityPeriodic ity assumes that economic activities are divided into artific ial portions of time such as months, quarters, and years.Cost-benefit relationship 成本收益关系Cost-benefit relationship assumes that unless the benefits of providing information exceed the costs associated with it, the information should not be prepared.MaterialityMateriality refers to the threshold （最低要求）at which the omission（漏报）or misstatement （错报）of an item in a financial report would influence or change the judgment of the information users. In other words, if the item makes a difference, it should be included or corrected. Conservatism 稳健性Conservatism is defined as a prudent reaction to uncertainty to try to ensure that uncertainty and risks inherent （固有）in business situations are adequately considered.对商业环境中的不确定性和风险因素给予足够谨慎的考虑Traditional conservatism has led to undervalued inventories and unreasonable depreciation or income recognition practices. Both conservative and optimistic biases can mislead investors, so the FASB now recommends conservatism be defined by neutrality and honesty in the disclosure of uncertainties, thus allowing users to form their own opinions as to the outcomes of uncertain events.通常的谨慎性会导致低估存货和不合理的折旧或收益确认等问题。
Unit 1 Introduction to Accounting I．Key termsAccounting 会计Accountant 会计师Bookkeeping 簿记Bookkeeper 簿记员Account 账目账户T-account T型账户accounts payable 应付账款CPA (certified public accountant) 注册会计师Economic entity 会计主体Going concern 持续经营Accounting period 会计分期Monetary unit 货币计量Accrual basis 权责发生制Cash basis 现金收付制Qualitative Characteristics质量特征Reliability可靠性Relevance 相关性Understandability 可理解性Comparability 可比性Substance over form 实质重于形式Materiality 重要性Prudence 谨慎性Timeliness 及时性Elements of accounting会计要素Assets 资产current assets 流动资产cash and cash equivalents 现金及现金等价物inventory存货 receivable应收账款 non-current assets 固定资产property （land and building）不动产, plant 厂房, equipment 设备（PPE）Liabilities 负债current liabilities 流动负债non-current liabilities 长期负债advance from customers 预收款bond债券government bond /treasury bond 政府债券，国库券debenture债券（由公司发行）Owners’ equity 所有者权益（Net assets）paid in capital （contributed capital）实收资本shares /capital stock 股本retained earnings 留存收益reserve 储备金（capital reserve 资本公积, other reserve其他公积）Revenue 收入sales revenue销售收入interest revenue利息收入rent revenue租金收入Expense 费用cost of sales销售成本administrative expense管理费用Gain 利得Loss 损失Profit 利润Financial statement 财务报表balance sheet 资产负债表income statement 利润表 cash flow statement 现金流量表Accounting cycle 会计循环journal entries 日记账 general ledger 总分类账 trial balance 试算平衡表adjusting entries 调整分录Double-entry system 复式记账Dr.—Debit 借Cr.—Credit 贷资产类Assets现金及现金等价物：Cash and cash equivalents应收账款：Account receivable应收票据：Notes receivable应收股利：Dividend receivable应收利息：Interest receivable其他应收款：Other receivables原材料：Raw materials库存商品：inventory存货跌价准备：provision for the decline in value of inventories 坏账准备：Bad debt provision待摊费用：Prepaid expense交易性金融资产：Trading financial assets持有至到期投资：held-to-maturity investment可供出售金融资产：Available-for-sale financial assets短期投资：Short-term investment长期股权投资：Long-term equity investment固定资产：Fixed assets累计折旧：Accumulated depreciation在建工程：Construction-in-process固定资产减值准备：provision for the decline in value of fixed assets 无形资产：Intangible assets累计摊销：Accumulated amortization商誉：Goodwill 递延所得税资产：deferred tax assets （DTA ）负债类Liability短期借款：Short-term loans/ borrowing长期借款：Long-term loans/ borrowing预收账款：advance from customers应付票据：Notes payable应付账款：Accounts payable应付工资薪酬：wages payable应付股利：Dividends payable应付利息：Interest payable应交税费：Tax payable其他应付款：Other payables递延所得税负债：Deferred tax liabilities所有者权益类 Owners’ equity实收资本：Paid-in capital股本： Share Capital资本公积：Capital reserve盈余公积：Surplus reserve未确认投资损失：Unrealized investment losses未分配利润：Retained earnings after appropriation 成本类科目Cost生产成本：Manufacturing Cost制造费用：Manufacturing overhead研发支出：R & D expenditure损益类Profit and loss主营业务收入：Main operating revenue其他业务收入：Other operating revenue营业外收入：Non-operating income投资收益：Investment income产品销售收入：sales revenue主营业务成本：Main operating costs，cost of goods sold / cost of sales其他业务支出：Other operating costs营业外支出：Non-operating expense销售费用：Selling expense管理费用：General and administration expense （G&A expense）财务费用：Finance expense公允价值变动损益：Gain/loss of the change of fair value所得税：Income taxII．Reading Materials（I）AccountingAccounting is an information system. It measures business activities, processes data into reports, and communicates results to people. Recognition 确认 Measurement 计量 Record 记录 Report 报告There are both external users (外部使用者) and internal users (内部使用者) of accounting information. We therefore classify accounting into financial accounting and management accounting.Financial accounting （财务会计）provides information for people outside the firm, such as Wall Street investors and bankers. Government agencies and the public are other external users. Financial accounting information must meet certain standards of relevance（相关） and reliability （可靠）. Management accounting （管理会计）generates inside information for internal decision makers, such as the managers. Management information is tailored to serve the company’s specific needs and thus does not have to meet external standards of reliability.（II）ObjectivesGeneral objectives of financial reporting include the followingFinancial reporting should provide information that is useful to external users in making rational investment （投资）, credit （信用）, and similar decisions.Investor：投资人 risk & returnCreditor：债权人 liquidity 流动性 solvency 偿债能力Specific objectives of financial reporting show the types of information that should be included in specific financial reportsFinancial reporting should provide information about the economic resources (assets) of an entity, any claims （要求权）to those resources (liabilities), including obligations to transfer resources to other entities or to owner’s equity, and the effects of circumstances, transactions, and events that alter（改变） the entity’s resources and claims to those resources. Statement of Financial Position or Balance Sheet 财务状况表资产负债表Financial reporting should provide information about an entity’s comprehensive income and its components.Statement of Comprehensive Income 全面收益表Financial reporting should provide information about an entity’s cash flows. Statement of Cash flows 现金流量表（III）Accounting assumptions and conventionsMonetary unit （stable monetary unit concept）币值稳定假设In the United States, we record transactions in dollars. British accountants record transactions in pounds sterling, Japanese in yen, and Europeans in euro.Under the stable monetary unit concept, accountants assume that the dollar’s purchasing power is stable，ignoring the effect of inflation (通货膨胀) in the accounting records.Economic entityAn economic entity is any business enterprise, ranging from a sole proprietorship to a global corporation. The economic entity assumption distinguishes business enterprises from their owners and accounts for each separately （独立核算）.Going concernIt is assumed that the entity will continue in operation for the foreseeable future and it has neither the intention nor the necessity of liquidation （清算）or of curtailing （缩减）materially the scale of its operation. PeriodicityPeriodicity assumes that economic activities are divided into artificial portions of time such as months, quarters, and years.Cost-benefit relationship 成本收益关系Cost-benefit relationship assumes that unless the benefits of providing information exceed the costs associated with it, the information should not be prepared.MaterialityMateriality refers to the threshold （最低要求）at which the omission（漏报）or misstatement （错报）of an item in a financial report would influence or change the judgment of the information users. In other words, if the item makes a difference, it should be included or corrected. Conservatism 稳健性Conservatism is defined as a prudent reaction to uncertainty to try to ensure that uncertainty and risks inherent （固有）in business situations areadequately considered.对商业环境中的不确定性和风险因素给予足够谨慎的考虑Traditional conservatism has led to undervalued inventories and unreasonable depreciation or income recognition practices. Both conservative and optimistic biases can mislead investors,so the FASB now recommends conservatism be defined by neutrality and honesty in the disclosure of uncertainties, thus allowing users to form their own opinions as to the outcomes of uncertain events.通常的谨慎性会导致低估存货和不合理的折旧或收益确认等问题。
