会计常用名词双语-解释.doc

Accounting system: The person, procedures, devices, and records used by an organization to develop accounting information and communicate that information to decision makers.
Accounting equation: Assets are equal to the sum of liabilities plus owners’ equity.
Assets: Economic resources owned by an entity.
Account: A record used to summarize all increases and decreases in a particular asset, or any other type of asset, liabilities, owners’ equity, revenue, or expense.
Accounting cycle: The sequence of accounting procedures used to record, classify, and summarize accounting information.
Accrue: To grow or accumulate over time.
Adjusting entries: Entries made at the end of the accounting period for the purpose of recognizing revenue and expenses that are not properly measured as a result of journalizing transactions as they occur.
B
Balance sheet (=statement of financial position): A position statement that shows where the company stands in financial terms at a specific date.
Bank reconciliation: An analysis that explains the difference between the balance of cash shown in the bank statement and the balance of cash shown in the depositor’s records.
Book value: The net amount at which an asset appears in financial statement.
C
Cash flow prospects: The likelihood that an enterprise will be able to provide an investor with both a return on the investor’s investment and the return of that investment.
Capital stock：Transferable units of ownership in a corporation
Cash dividend: A distribution of cash by a corporation to its stockholders.
Closing entries: Journal entries made at the end of the period for the purpose of closing temporary accounts and transferring balances to the Retained Earning account.
Current assets: Cash and other assets that can be converted into cash or used up within a relatively short period of time without interfering with normal business operations.
Control account: A general ledger account that summarizes the content of a specific subsidiary ledger.
Cost of goods sold: The cost to a merchandising company of the goods it has sold to its customers during the period.
Cost layer: Units of merchandise acquired at the same unit cost.
Cash equivalents: Very short-term investments that are so liquid that they are considered equivalent to cash.
D
Disclosure: The accounting principle of providing with financial statements any financial and other facts that are necessary for proper interpretation of those statements.
Depreciable assets: Physical objects with a limited life.
Depreciation: The systematic allocation of the cost of an asset to expense during the periods of its useful life.
Dividends: Distribution of assets by a corporation to its stockholders.
E
External users: Individuals and other enterprises that have a financial interest in the reporting enterprise but that are not involved in the day-to-day operations of that enterprise.
Expenses: The costs of the goods and services used up in the process of obtaining revenue.
Extraordinary items: Transactions and events that are unusual in nature and occur infrequently.
F
Financial accounting: Providing information about the financial resources, obligations, and activities of an economic entity that is intended for use primarily by external decision makers---investors and creditors.
Financial statement: A monetary declaration of what is believed to be true about an enterprise.
Financial assets: Cash and assets convertible directly into known amounts of cash.
I
Income statement: A financial statement summarizing the results of operations of a business by matching its revenue and related expenses for a particular accounting period. Shows the net income or net loss.
Inventory: Merchandise intended for resale to customers.
Inventory shrinkage: The loss of merchandise through such causes as shoplifting, breakage, and spoilage.
Intangible assets: Those assets that are used in the operation of a business but that have no physical substance and are noncurrent
L
Liabilities: Debts or obligations of an entity that resulted from past transaction.
Loss: A decrease in owners’ equity resulting from any transaction other than an expense or distribution to the owners.
Ledger: An accounting system includes a separate record for each item that appears in the financial statements.
P
Par value: The legal capital of a corporation.
Plant assets: Long-lived assets that are acquired for use in business operations rather than for resale to customers.
Prepaid expenses: Assets representing advance payment of the expenses of future accounting period.
Posting: The process of transferring information from the journal to individual accounts in the ledger.
R
Retained earnings: The portion of stockholders’ equity that has accumulated as a result of profitable operations.
Revenues: Increases in the enterprise’s assets as a result of profit-oriented activities.
T
Taking a physical inventory: The procedure of counting all merchandise on hand and determining its cost.
Trail balance: A two-column schedule listing the names and the debit or credit balances of all accounts in the ledger.
U
Unearned revenue: An obligation to deliver goods or render services in the future, stemming from the receipt of advance payment.
Useful life: The period of time that a depreciable asset is expected to be useful to the business.
Gain: An increase in owners’ equity resulting from a transaction other than earning revenue or investment by the owners.
Gross profit: Net sales revenue minus the cost of goods sold.
Notes: Supplemental disclosures that accompany financial statements.
Operating cycle: The repeating sequence of transactions by which a business generates its revenue and cash receipts from customers.
Stockholders’ equity: The owners’ equity of an enterprise organized as a corporation.

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