财务会计英语.ppt

legal entity.
J & M, Inc.
Advantages • The ability to obtain large
amounts of resources by issuing stocks • Limited liability for the owners
Disadvantages
Limitation on Life of Entity
Proprietorship Yes
Corporation No
Partnership
Yes
LLC
Yes
Comparison of Alternate Entity Characteristics
Ease of Raising Capital
Taxation
Proprietorship Corporation Partnership LLC
Nontaxable entity Taxable entity Nontaxable entity Nontaxable entity by election
Comparison of Alternate Entity Characteristics
Withdrawals by the owner are recorded in the owner’s drawing account.
Equity Reporting for Alternative Entity Forms
Proprietorships
Greene Landscapes
Statement of Owner’s Equity
LLC provides limited liability for the members. LLCs must file “articles of organization” with

A long position involves inflows greater than outflows in a currency and a short position involved outflows greater than inflows. 多头是一种货币的流入大于流出，而空头指一种货币的流出大于 流入。
Finance Vocabulary——常用金融词汇
A.T.M.
AutomatedTellerMachi ne; cashdispenser
Banknote
Piece of paper money
Legal tender
Loan Donate
Currency that cannot legally be refused as payment
Money paid for borrowing or investing money
Written order to a bank to pay the stated amount from one's account
Sum of money to be returned with interest
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If you go short and the futures price goes up, you lose money. 如果你卖空而期货价格上升，你就赔钱。
Futures is one of the types of financial futures. 外汇期货是金融期货的一种。
The futures price is not constant until the contract expires. 直到其期货合约到期之前，期货价格才稳定。
Futures markets provide a current consensus of knowledgeable opinions about the future price of commodities or financial instruments. 期货市场提供了 对商品或金融工具未来价格综合信息所作出的市场判断。

2. Describe and illustrate the equity reporting for proprietorships, corporations, partnerships, and limited liability corporations.
3. Describe and illustrate the accounting for forming a partnership.
Disadvantages • Difficulty in raising
large amounts of capital • Unlimited liability
Alternative Forms of Business Entities
A corporation is organized under state or federal statutes as a separate
Alternative Forms of Business Entities
A proprietorship is owned by one individual.
Advantages
• Ease in organizing • Low cost of
organizing
Joe’s
Review of Chapter 1
Chapter 13
Partnerships and Limited Liability Corporations
Accounting, 21st Edition
Warren Reeve Fess
PowerPoint Presentation by Douglas Cloud
Professor Emeritus of Accounting Pepperdine University

实现原则
重要性
full disclosure 充分反映
constraint 约束
会计英语—财务会计
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conservatism 稳健性
industry practices 行业实务
会计英语—财务会计
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Chapter 3
会计英语—财务会计
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accounting cycle 会计循环
收益表账户
income summary account
收益汇总账户
nominal account 虚账户
permanent account 永久性账户
会计英语—财务会计
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temporary account 临时性账户
unadjusted trial balance
调整前试算表
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debit balance 借方余额
depreciation expense
折旧费用
double-entry accounting
复式记账制
end-of-period adjusting entries
期末调整分录
会计英语—财务会计
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income statement account
质量特征
会计英语—财务会计
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accounting elements asset
会计要素
资产
measurement and recognition
确认与计量
liabilities 负债
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equity 权益
revenue 收入
expense 费用
net income (net loss)
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