BÀI GIẢNG MÔN TIẾNG ANH CHUYÊN NGÀNH KẾ TOÁN - TÀI CHÍNH pptx

CHƯƠNG 1: THE WORLD OF ACCOUNTING“There's no business like show business, but there are several businesses like accounting.” David Letterman Liệt kê các chủ đề hoặc các nội dung liên qua

BÀI GIẢNG MÔN TIẾNG ANH CHUYÊN NGÀNH

(DÀNH CHO HỆ ĐÀO TẠO LIÊN THÔNG)

Accounting and Finance

Kế toán – Tài chính

PHẠM CƯỜNG

CHƯƠNG 1: THE WORLD OF ACCOUNTING

“There's no business like show business, but there are several businesses

like accounting.” David Letterman

Liệt kê các chủ đề hoặc các nội dung liên quan tới chuyên ngành Kế toán.

PHẦN I TỪ VỰNG

A Sử dụng từ điển để tìm hiểu ý nghĩa các thuật ngữ trong lĩnh vực kế toán ở cột bên trái và ghép với các giải nghĩa bằng tiếng Anh của chúng

ở cột bên phải

1 accounting a A written statement that shows the financial state of a

company at a particular time

2 assets b An official financial record that gives details of all a

company's income and expenses for a particular period andshows if it has made a profit or a loss

3 expenses c The activity of keeping detailed records of the amounts of

money a business or person receives and spends

4 balance sheet d Money that a business spends on supplies, workers,

services, etc in order to operate

5 income statement e The things that a company owns, that can be sold to pay debts

6 profit f An amount of money that is invested in or is used to start a

business

7 capital g Debts and obligations of a company.

8 liabilities h A financial benefit when the amount of revenue gained from

a business activity exceeds the expenses, costs to sustainthe activity

B Dùng các thuật ngữ trong Phần A để điền vào đoạn văn sau.

(1) Accounting summarizes and submits financial information of a

business or organization in reports and statements One of the most important financialreports is the (2) This report shows the economicperformance of a business, whether it has made a (3) or loss Thebasic format is revenues less (4) _ equals income (in Britain income iscalled profit) If expenses are greater than sales, then there is a loss

Another very important report is the (5) _ Thisshows assets, liabilities, and owner’s equity of the business on a specific day, usuallythe last day of the accounting year

(6) _ are normally divided into current and non-current assets.Current assets are the assets that are used to fund day-to-day operations and payongoing expenses Noncurrent assets are intended for use in the long-term operations

of a business Non-current assets will still be with the company in several years

(7) _ can be either short term or long term The former arecurrent liabilities, which are debts payable within one year, while the latter areclassified as long-term liabilities, which are debts payable over a longer period.

PHẦN II THẢO LUẬN VÀ ĐỌC HIỂU

1 What are functions of financial information?

2 Who may need the financial information of a company?

3 What are the responsibilities of an accountant in a company?

1 Đọc bài đọc và trả lời các câu hỏi sau.

1 Why is accounting called the “language of business”?

2 How is a standardized accounting system achieved?

3 What do the balance sheet and the income statement have in common?How are they different?

4 How are accountants classified in the United States?

5 What kinds of services do public accountants probably provide?

6 Which type of accounting – public, private, or governmental – appeals toyou the most? Why?

AN INTRODUCTION TO ACCOUNTING

Accounting is frequently called the “language of business” because of its ability

to communicate financial information about an organization Various interestedparties, including internal users, such as a company's managers and employees, andexternal users, such as creditors, potential investors, governmental agencies, financialanalysts, and labor unions, rely on a company’s financial information to help themmake informed financial decisions An effective accounting system, therefore, mustinclude accurate collecting, recording, classifying, summarizing, interpreting, andreporting of information on the financial status of an organization

In order to achieve a standardized system, the accounting process followsaccounting principles and rules Regardless of the type of business or the amount ofmoney involved, common procedures for handling and presenting financial

information are used Incoming money (revenues) and outgoing money (expenditures)are carefully monitored, and transactions are summarized in financial statements,which reflect the major financial activities of an organization.

Two common financial statements are the balance sheet and the incomestatement The balance sheet shows the financial position of a company at one point oftime, while the income statement shows the financial performance of a company over

a period of time Financial statements allow interested parties to compare oneorganization to another and/or to compare accounting periods within one organization.For example, an investor may compare the most recent income statements of twocorporations in order to find out which one would be a better investment

People who specialize in the field of accounting are known as accountants Inthe United States, accountants are usually classified as public, private, orgovernmental Public accountants work independently and provide accounting servicessuch as auditing and tax computation to companies and individuals Public accountantsmay earn the title of CPA (Certified Public Accountant) by fulfilling rigorousrequirements Private accountant work solely for private companies or corporationsthat hire them to maintain financial records, and governmental accountants work forgovernment agencies or bureaus Both private and governmental accountants are paid

on a salary basis, whereas public accountants receive fees for their services

Through effective application of commonly accepted accounting systems,private, public and governmental accountants provide accurate and timely financialinformation that is necessary for organizational decision-making

- potential investors (n) – các nhà đầu tư tiềm năng

- governmental agencies (n) – các cơ quan chính phủ

- labor unions (n) – các liên đoàn lao động

- financial status (n) – tình hình tài chính

- accounting principles and rules (n) – các nguyên tắc và quy tắc kế toán

- revenues (n) – doanh thu

- expenditures (n) – chi phí

- balance sheet (n) - bản cân đối kế toán

- income statement (n) – báo cáo thu nhập

- financial performance (n) - kết quả hoạt động tài chính

- auditing (n) - kiểm toán

- rigorous requirements (n) – các quy định nghiêm ngặt

- financial records (n) – các ghi chép thông tin tài chính

2 Lựa chọn từ hoặc cụm từ phù hợp nhất để hoàn thành các câu sau.

1 Accounting information is used by to help them to makefinancial decisions

2 Regardless of the type of business or the amount of money involved

A all companies use identical accounting systems

B balance sheets are more important than income statements

C common procedures are used in handling financial information

D no standardized accounting system is employed

3 Business monetary transactions are summarized in

4 Public accountants may earn the title of CPA by

A becoming governmental accountants

B paying a fee

C fulfilling rigorous requirements

D obtaining a Bachelor of Arts degree in Accounting

5 Private and governmental accountants are paid on a _ basis

PHẦN III TRỌNG TÂM NGỮ PHÁP

MỆNH ĐỀ QUAN HỆ

RELATIVE CLAUSES (Mệnh đề quan hệ)

A Đại từ quan hệ thay cho danh từ chỉ Người và chỉ Vật

Mệnh đề quan hệ là mệnh đề được bắt đầu bằng các từ that, who, which hoặc whose để miêu tả và xác định một đối tượng là người hoặc vật Để chỉ người, ta

dùng who hoặc that Để chỉ vật, ta dùng which hoặc that.

Chỉ người: The business consultants who/that advised us were very

experienced.

Chỉ vật: The services which that company offers are very expensive.

B Mệnh đề quan hệ chủ ngữ và mệnh đề quan hệ tân ngữ

Đôi lúc chúng ta có thể giữ lại hoặc bỏ đi đại từ quan hệ

 Nếu theo sau đại từ quan hệ who, which, that là động từ vị ngữ của mệnh

đề quan hệ, chúng ta không thể lược bỏ đi đại từ quan hệ:

We helped the tourists who had lost their way.

(who had lost their way là mệnh đề có đại từ quan hệ who là chủ ngữ)

 Nếu theo sau đại từ quan hệ who, which hoặc that là một danh từ hoặc một

đại từ đi liền với một động từ vị ngữ của mệnh đề, ta có thể lược bỏ đi đại từ

quan hệ Vì vây, ta viết:

The computers that you ordered have arrived.

Hoặc:

The computers you ordered have arrived.

(Trong câu này, that you ordered là một mệnh đề quan hệ có đại từ quan hệ that thay cho tân ngữ: you ordered the computers)

 Trong mệnh đề quan hệ tân ngữ, ta có thể dùng whom để chỉ người Tuynhiên, cách dùng này chỉ thường thấy trong ngôn ngữ viết trang trọng

The candidate whom they selected had intensive experience of the industry.

E Mệnh đề quan hệ không hạn định

Trong một số trường hợp ta phải dùng who và which chứ không dùng that:

Sai: Starbucks Coffee Japan, that was established in 1995, has been

walking a different path.

Đúng: Starbucks Coffee Japan, which was established in 1995, has been

walking a different path.

Mệnh đề quan hệ như trên nhằm cung cấp thêm thông tin được gọi là mệnh đềquan hệ không hạn định và phải được ngăn cách với mệnh đề chính Cùng xemxét sự khác biệt giữa hai loại:

Mệnh đề quan hệ hạn định:

Citigroup is a US company that was formed in 1998 by bringing

together Citibank and Travelers.

Mệnh đề quan hệ không hạn định:

Legend Group Holdings, which is controlled by the Chinese

government, owns a majority stake in Lenovo.

PHẦN IV BÀI TẬP ĐỀ NGHỊ

A Sử dụng các từ vựng cho sẵn để hoàn thành đoạn văn phía dưới

assets bookkeeping errors credit debit entries measures transactions principles reform relationships practices

DEFINITION OF ACCOUNTING

Accounting is the measurement of financial (1) ……… which aretransfers of legal property rights made under contractual (2) ……….Non-financial transactions are specifically excluded due to conservatism andmateriality principles At the core of modern financial accounting is the double-entry(3) ……… system This system involves making at least two (4)

……… for every transaction: a (5) ……… in oneaccount, and a corresponding (6) ……… in another account

Basically, the sum of all debits should always equal the sum of all credits; thisprovides a simple way to check for (7) ……… This system was first used

in medieval Europe; however, claims have been made that the system dates back toAncient Rome or Greece According to critics of standard accounting (8)

……… , accounting has changed little since In each generation,accounting (9) ……… of some kind has been made in order to try tokeep bookkeeping relevant to capital (10) ……… or production capacity,but such changes have not altered the basic (11) ……… of accounting

In recent times, the divergence of accounting from economic principles has resulted in

controversial (12) ……… to make financial reports more indicative

of economic reality

B Ghép một thuật ngữ về loại hình kế toán với giải nghĩa phù hợp ở cột bên.

C Viết giải nghĩa cho các thuật ngữ bằng cách sử dụng cấu trúc sau.

1 Balance sheet is

2 Sales are

3 Capital is

4 Income tax is

5 Accounts payable are

6 A creditor is

7 Creative accounting is

8 A loan is

D Chọn lựa từ loại phù hợp để hoàn thành các câu sau.

1 communication / to communicate / communicative

a Supervisors should strive for two-way _ with their employees

b By using an overhead projector, the guest speaker was able _ his statistical information clearly

c Because of the clerk’s highly developed _ skills, she was given a position that required her to deal directly with customers

2 information / informed / informative

a The owner _ his employees that they would all receive

a 5 percent pay increase

b Getting Acquainted with Accounting, by John L Carey, is a very book

c Financial is essential for organizational decision making

3 allowance / allowed / allowable

a The supervisor lost control of his staff members after he them

to override his decisions

b When the factory was built 50 years ago, little _ was made for remodeling and expansion

c Capital punishment is only under exceptional circumstances

4 fulfillment / fulfill / fulfilling

a At times the assembly line worker felt a lack of professional _

b When he was promoted to production supervisor, however, his job became much more _

c Before the accountant could become a CPA, she had to _ a number of requirements

5 standards / has standardized / standard

a The _ paper size in the United States for business lettersand memoranda is 8½ X 11 inches

b The accounts department _ its procedures forrecording and presenting financial information

c Nowadays, rigorous are enforced in the area of foodprocessing and packaging

E Đọc đoạn giới thiệu về hoạt động kế toán ghi sổ và lựa chọn phương án

đúng nhất (A, B, C hoặc D) để điền vào mỗi ô trống.

Bookkeeping, commonly referred to as keeping the books, is the process ofkeeping full, accurate, up-to-date business (1) Proper bookkeeping can helpbusinesses (2) manage cash flow, stay abreast of profits and losses, anddevelop plans for the future based on financial trends Furthermore, accuratebookkeeping is required by tax (3)

Bookkeeping involves making a record of the amounts received by a business

as well as the amounts paid out It (4) money a company owes to vendors,employees, tax agencies, contractors and any other individual or entity Likewise,accurate records of amounts owed to a company by outside individuals andorganizations are also recorded in a company's (5)

A company's books are used to determine the amount of taxes the companymust pay They are also used in preparing (6) Sometimes, a tax agency maydecide to investigate the information reported on a tax return or other type of tax-related document In such cases, business owners are required to present accuraterecords for the tax agency's inspection Failure to do so could (7) fines,penalties, or in severe cases, imprisonment

Though necessary and beneficial to business owners, the task of bookkeeping can

be very time consuming With no exceptions, every amount that is paid or received must

be recorded Additionally, (8) is of the utmost importance, making keeping thebooks in a rushed manner a very bad idea As business owners are often lacking in time,many choose to hire bookkeepers to keep company records well maintained

Although hiring bookkeeping professionals may be a good idea for manycompanies, not all business owners can afford to do so This is particularity true ofsmaller, home-based, or start-up businesses (9) _, there are many computerbookkeeping programs designed to make the task of keeping the books manageableand less time consuming Many bookkeeping programs (10) _ all of thecalculations for the user, taking the worry out of keeping accurate figures.

4 A encompasses B deducts C makes up D takes away

6 A tax breaks B tax returns C tax credits D tax shelters

8 A accuracy B accurate C inaccurate D inaccuracy

9 A Unluckily B However C Fortunately D Likewise

F Đọc đoạn bài đọc sau và trả lời các câu hỏi phía dưới

BUDGETING AND ACCOUNTING

Everyone should agree that it is easy to spend money – sometimes too easy –and it is difficult to save money One may ask himself “Where did my money go?”after counting the money in his purse So before and after earning, spending andsaving, people and businesses turn to paper and pencil – and now to computers – toplan what is going to happen with their money and account for what is happening orhas happened to it A financial plan is called a budget

This universal problem affects not only the individual, but all entities – smallbusinesses, big corporations, non-profit organizations, and the government Manypoliticians have made many speeches about cost over-runs and budget deficits caused byexpenses being greater than income Husbands and wives worry about living withintheir means, and parents caution children about over-spending their allowances

A budget is, quite simply, a forecast of what the revenue will be (how muchmoney will come in) and what the expenses will be (how much money will go out).Some expenses are the result of purchases, and accountants call these purchasesexpenditures If the budget is for a profit-making entity, the revenue should exceed theexpenses and the bottom line should show a profit The family hopes to have abalanced budget, and politicians often demand the government balance its budget, too.

Budgets are prepared for certain periods of time For example, a 12-monthaccounting period is called a financial year When the year begins, it then becomes thetask of the bookkeeper to record or enter the income and expense in journals andledgers The accountant then counts up and analyzes the financial status and thefinancial progress of the entity The financial status is shown in a balance sheet whichshows the assets (what the business owns) and the liabilities (what the business owes)and the equities (how much capital the business has) The accountant also prepares afinancial statement which has, in addition to the balance sheet, the income statement,which shows the important bottom line and the entity’s profit or loss

Từ vựng

- budget (n) – ngân sách

- entities (n) – đơn vị kinh tế

- allowances (n) - nguồn kinh phí, trợ cấp

- budget deficits (n) - thâm hụt ngân sách

- cost over-runs (n) – chi phí vựơt quá dự toán

- exceed (n) - lớn hơn, nhiều hơn

1 Saving money is as simple as using the money

2 A budget is often known as a financial result of the business

3 If the revenue exceeds the expenses at the end of the accounting period, thebusiness has made a profit.

4 The financial year is often longer than the calendar year

5 During the financial year, the bookkeeper records and enters earnings andexpenditures in journals and ledgers

6 The balance sheet gives information about the entity’s earnings andexpenditures

CHƯƠNG 2: THE ACCOUNTS

Brainstorm a list of a company’s assets, debts and capital resources.

MỞ ĐẦU

Assets

BuildingsLand

Liabilities

Bank loans

Owner’s equityStocks

PHẦN I TỪ VỰNG

A Chọn lựa thuật ngữ đúng nhất so với giải nghĩa cho sẵn.

1 Amounts to be received in the future for goods or services sold on credit

2 Payment for the use of someone else's property

3 The cost of the supplies used in running an office

4 Amounts owed to others but not yet paid

5 Amounts of money invested into businesses in order to earn more money

6 Amount of money taken out of the business by the owner for personal use

8 Direct tax on the earnings of individuals and corporations

9 Earnings distributed to stockholders

10 The total amount of money a business takes in during a given period byselling goods and services.

B Ghép các thuật ngữ tiếng Anh kế toán bên trái với giải nghĩa bên phải

a current assets 1 the cost involved in selling goods, paying shop

and office staff, advertising, etc

b fixed assets

2 debts that will not have to be paid for severalyears (e.g money borrowed by selling shares ormortgaging property)

c intangible assets

3 the cost to the firm of the merchandise sold(including the cost of raw materials, labour,factory overheads)

d current liabilities 4 cash, or other assets, that will be changed into

cash or consumed within a short time

e long-term liabilities 5 the value of goods that are in stock and for sale

f cost of sales 6 the profit from sales after the costs of selling, and

general expenses, have been subtracted

g gross profit on sales

7 assets that are intended for use rather than sale,and that will be of use for more than one year(e.g buildings, cars) Also known as plant assets

h net operating profit

8 assets that do not have physical reality, such as thegoodwill of customers, trade connections,patents, copyrights

i merchandise inventory 9 debts that have to be paid within a short time

j selling and general expenses 10 the profit left after the cost of selling has been

subtracted from the value of sales

PHẦN II THẢO LUẬN VÀ ĐỌC HIỂU

1 What are some documents that accountants can use to record transactions?

2 How are accounts classified? Name some of the widely used accounts

3 What are major activities involved in the accounting process?

B ĐỌC HIỂU

SYSTEMS OF ACCOUNTS

The accounting process identifies business transactions and events, analyzesand records their effects, and summarizes and presents information in reports and financialstatements The accounting process that focuses on analyzing and recording transactionsand events follows these steps Business transactions and events are the starting points.Relying on source documents, the transactions and events are analyzed using the accountingequation to understand how they affect company performance and financial position Theseeffects are recorded in accounting records, informally referred to as the accounting books,

or simply the books Additional steps such as posting and then preparing a trial balancehelp summarizes and classifies the effects of transactions and events Ultimately, theaccounting process provides information in useful reports or financial statements to decisionmakers

Source documents identify and describe transactions and events entering the

accounting process They are the sources of accounting information and can be in eitherhard copy or electronic form Examples are sales tickets, checks, purchase orders, bills fromsuppliers, employee earnings records, and bank statements

An account is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item The general ledger, or simply ledger, is a record containing all

accounts used by a company The ledger is often in electronic form While most companies’ledgers contain similar accounts, a company often uses one or more unique accountsbecause of its type of operations Accounts are arranged into three general categories (based

on the accounting equation), as shown below

Asset accounts

Assets are resources owned or controlled by a company and that have expected future

benefits Most accounting systems include separate accounts for the assets described here

A Cash account reflects a company’s cash balance All increases and decreases in

cash are recorded in the Cash account It includes money and any medium of exchange that

a bank accepts for deposit (coins, checks, money orders, and checking account balances)

Accounts receivable are held by a seller and refer to promises of payment from

customers to sellers These transactions are often called credit sales or sales on account (or on credit) Accounts receivable are increased by credit sales and are decreased by

customer payments

A note receivable, or promissory note, is a written promise of another entity to pay a

definite sum of money on a specified future date to the holder of the note A company

holding a promissory note signed by another entity has an asset that is recorded in a Note (or Notes) Receivable account.

Prepaid Accounts (also called prepaid expenses) are assets that represent

prepayments of future expenses (not current expenses) When the expenses are laterincurred, the amounts in prepaid accounts are transferred to expense accounts Commonexamples of prepaid accounts include prepaid insurance, prepaid rent, and prepaidservices (such as club memberships) Prepaid accounts expire with the passage of time(such as with rent) or through use (such as with prepaid meal tickets) When financialstatements are prepared, prepaid accounts are adjusted so that (1) all expired and usedprepaid accounts are recorded as regular expenses and (2) all unexpired and unusedprepaid accounts are recorded as assets (reflecting future use in future periods)

Supplies are assets until they are used When they are used up, their costs are reported as expenses The costs of unused supplies are recorded in a Supplies asset account.

Supplies are often grouped by purpose - for example, office supplies and store supplies

Office supplies include stationery, paper, toner, and pens Store supplies include packaging

materials, plastic and paper bags, gift boxes and cartons, and cleaning materials The costs

of these unused supplies can be recorded in an Office Supplies or a Store Supplies assetaccount When supplies are used, their costs are transferred from the asset accounts toexpense accounts

Equipment is an asset When equipment is used and gets worn down, its cost is

gradually reported as an expense (called depreciation) Equipment is often grouped by

its purpose - for example, office equipment and store equipment Office equipment includes computers, printers, desks, chairs, and shelves The Store equipment account

includes the costs of assets used in a store such as counters, showcases, ladders, hoists,and cash registers.

Buildings such as stores, offices, warehouses, and factories are assets because they

provide expected future benefits to those who control or own them Their costs are recorded

in a Buildings asset account

The cost of land owned by a business is recorded in a Land account The cost of

buildings located on the land is separately recorded in one or more building accounts

Liabilities accounts

Liabilities are claims (by creditors) against assets, which means they are obligations

to transfer assets or provide products or services to other entities An organization often hasseveral different liabilities, each of which is represented by a separate account that shows

amounts owed to each creditor Creditors are individuals and organizations that own the

right to receive payments from a company If a company fails to pay its obligations, the lawgives creditors a right to force the sale of that company’s assets to obtain the money to meetcreditors’ claims When assets are sold under these conditions, creditors are paid first, butonly up to the amount of their claims Any remaining money, the residual, goes to theowners of the company Creditors often use a balance sheet to help decide whether to loanmoney to a company A loan is less risky if the borrower’s liabilities are small incomparison to assets because this means there are more resources than claims on resources.Common liability accounts are described here

Accounts payable refer to oral or implied promises to pay later, which usually arise

from purchases of merchandise Payables can also arise from purchases of supplies,equipment, and services Accounting systems keep separate records about each creditor

A note payable refers to a formal promise, usually denoted by the signing of a

promissory note, to pay a future amount It is recorded in either a short-term Note Payableaccount or a long-term Note Payable account, depending on when it must be repaid

Unearned Revenue refers to a liability that is settled in the future when a

company delivers its products or services When customers pay in advance forproducts or services (before revenue is earned), the revenue recognition principlerequires that the seller consider this payment as unearned revenue Examples ofunearned revenue include magazine subscriptions collected in advance by a publisher,sales of gift certificates by stores, and season ticket sales by sports teams The seller

would record these in liability accounts such as Unearned Subscriptions, UnearnedStore Sales, and Unearned Ticket Revenue When products and services are laterdelivered, the earned portion of the unearned revenue is transferred to revenueaccounts such as Subscription Fees, Store Sales, and Ticket Sales.

Accrued liabilities are amounts owed that are not yet paid Examples are wages

payable, taxes payable, and interest payable These are often recorded in separate liabilityaccounts by the same title

Equity accounts

The owner’s claim on a corporation’s assets is called equity, stockholders’ equity, or

shareholders’ equity Equity is the owners’ residual interest in the assets of a business afterdeducting liabilities Equity is impacted by four types of accounts: common stock,dividends, revenues, and expenses

When an owner invests in a company in exchange for common stock, the

invested amount is recorded in an account titled Common Stock Any further owner

investments are recorded in this account When the company pays any cash dividends

it decreases both the company’s assets and its total equity Dividends are not expenses

of the business They are simply the opposite of owner investments A Dividends

account is used in recording asset distributions to stockholders (owners)

Revenues and expenses also impact equity Examples of revenue accounts are

Sales, Commissions Earned, Professional Fees Earned, Rent Earned, and Interest

Revenue Revenues increase equity and result from products and services provided to customers Expenses decrease equity and result from assets and services used in a

2. The amount of money that customers owe to the corporation is recorded inthe accounts payable.

3. The amount of money that the corporation owes to its suppliers is recorded

in the accounts payable

4. Credit sales do not reflect the cash amount a company keeps in cashregisters or banks

5. Supplies are always recorded as assets

6. If a company fails to pay its obligations, all the value of its assets that aresold in a forced sale belongs to the creditors

7. Buildings and equipment are recorded in asset accounts

8. All notes payable to the bank are the corporation’s short-term liabilities

9. Expired prepaid meal tickets are recorded as expenses

10. Unearned revenue is recorded in liability accounts when the goods havenot been delivered

11. Revenues and expenses have no relation with shareholder’s equity

12. Equity is the source of capital that the corporation owns, including thecommon stock, and retained earnings

Các tài khoản nào sau không thuộc nhóm tài khoản tài sản?

If we break into the EU market, our sales will increase a lot.

M nh đ đi u ki n có th đ ng tr c ho c sau m nh đ chính.ệnh đề điều kiện có thể đứng trước hoặc sau mệnh đề chính ề điều kiện có thể đứng trước hoặc sau mệnh đề chính ề điều kiện có thể đứng trước hoặc sau mệnh đề chính ệnh đề điều kiện có thể đứng trước hoặc sau mệnh đề chính ể đứng trước hoặc sau mệnh đề chính ứng trước hoặc sau mệnh đề chính ước hoặc sau mệnh đề chính ặc sau mệnh đề chính ệnh đề điều kiện có thể đứng trước hoặc sau mệnh đề chính ề điều kiện có thể đứng trước hoặc sau mệnh đề chính

Mệnh đề chính Mệnh đề điều kiện

Prices will rise if a deficit is financed by printing more money.

B Chỉ dẫn điều kiện

If + present tense + imperative

If a fifteen percent discount is not accepted, please look for another supplier

If the customer is a very difficult person, please stay calm

C Câu điều kiện loại 1

If + present tense + will / will not (won’t) + infinitive

If + present tense + must / should / can / may + infinitive

 Câu điều kiện loại 1 được dùng để nói về các kết quả của một sự việc có thểxảy ra ở hiện tại hoặc tương lai.

If we increase our order, they will give us a higher discount.

If our main competitor goes bankrupt, we will increase our market share.

If a company needs capital, it may get a loan from a bank, or it may ask an investment

bank to sell equity or debt (stocks or bonds)

 Chúng ta thường dùng câu điều kiện loại 1 để nói về các điều kiện và điềukhoản trong một hợp đồng hoặc giao dịch

If you are not fully satisfied with this product, we will refund your money.

Under the terms of their contract, employees must give 3 months' notice if they leave.

D Câu điều kiện loại 2

If + past tense + would (not) / could / should / might + infinitive

 Chúng ta dùng câu điều kiện loại 2 để tưởng tượng ra các tình huống không

có thật ở hiện tại

Imagine what it would be like if every bank issued its own currency.

If prices never changed, nominal GDP would be sufficient.

If Portugal could make grape juice more efficiently than England, and if England could make cloth more efficiently than Portugal, then trade would be beneficial to both.

 Câu điều kiện loại 2 được dùng để diễn đạt các kết quả tưởng tượng của một

sự việc không thể xảy ra ở hiện tại

If you bought 10,000 shares, you would own 1 percent of the company.

If the wage rose to $14 per hour, some restaurants would stop hiring and others would have to lay off some chefs.

If other companies entered the market, there would be more competition.

 “Were” được sử dụng phổ biến với tất cả các chủ ngữ của mệnh đề điều kiệnloại 2 trong văn phong Anh ngữ trang trọng

If taxable income were defined as earned income, taxpayers receiving only interest and

dividends would be excluded from the payment of taxes

If I were the Managing Director, I would restructure our company.

E Câu điều kiện loại 3

If + past perfect + would /could / might have + past participle

 Câu điều kiện loại 3 được dùng để nói về những sự việc không xảy ra trongquá khứ (và kết quả có thể của nó nếu sự việc đó xảy ra)

If the price / earnings ratio had been higher, I would have bought some shares The FTC estimated that consumers would have paid about $480 million more for CDs than they did if prices had been determined by market forces.

A Phân loại các tài sản sau bằng cách đánh dấu √ vào cột tương ứng.

Name of Account Current

Asset

FixedAsset

CurrentLiability

Long-termLiabilityAccounts receivable

Income Tax payable

B Phân loại tài khoản

Derwood Corporation lập bảng cân đối kế toán sử dụng các phân loại tài khoảnsau:

1 Current assets 5 Current liabilities

2 Investments and funds 6 Long-term liabilities

3 Property, plant, and equipment 7 Contributed capital

4 Intangible assets 8 Retained earnings

Dưới đây là một số tài khoản Hãy sử dụng các con số nói về các phân loại tàikhoản để phân loại các tài khoản sau

A Revenue B Expense C Owner’s equity D Asset

7 Cost of Goods Sold

A Asset B Liability C Owners' Equity D Expense

A Owner’s equity B Asset C Revenue D Expense

D Điền vào ô trống các từ liên quan tới tài sản

book value current assets depreciable assets convertibilityprepaid expenses fixed assets long-term assets intangible assetsAssets are the economic resources of an organization that can usefully beexpressed in monetary terms The assets can be classified into (1) and (2) Current assets are cash and the assets that will be convertedinto cash or used up during the normal operating cycle of the business or one year,whichever is longer Current assets are usually listed in the order of their “liquidity” or(3) _ into cash Some examples of current assets are notes receivableand marketable securities (4) such as insurance, rent, and suppliesare normally consumed during the operating cycle rather than converted into cash

Long-term assets are relatively long-lived assets used in operating anorganization and may be further classified into (5) _ (or plantand equipment) and (6) _ Fixed assets may include land,buildings, and various kinds of equipment (machinery, store fixtures, office

equipment, delivery equipment, etc.) They constitute the major category of thelong-term assets (7) _ are normally shown at their originalcost The accumulated portion of the cost taken as depreciation to date is subtractedfrom its original cost to obtain the (8) _ of the asset Intangibleassets are characterized by the legal claims or rights which may include patents,trademarks, franchises, goodwill, etc.

E Dựa theo khái niệm trong hoạt động kế toán, xác định các thông tin sau là

đúng hay sai Nếu đúng, ghi TRUE Nếu sai, ghi FALSE.

1 A debt or obligation that must be paid or liquidated within the one year orone operating cycle of the business is classified as a current liability _

2 Assets are the economic resources that are expected to produce futurebenefits _

3 An asset that may reasonably be expected to be realized in cash or beconsumed within one year or one operating cycle of the business,whichever is longer, is classified as a current asset _

4 Land, buildings, and equipment are examples of business expenses

7 A twenty-year mortgage note is an example of a long-term liability. _

8 Prepaid expenses refer to amounts received in advance of when the product

or service is received _

F Đọc bài đọc sau và trả lời các câu hỏi phía dưới

WHAT IS EQUITY?

Ownership in a company, called equity, is certified through pieces of paper called shares or stocks - that state that "the holder of this share owns a part of thiscompany."

-When the company makes a profit, its owners share in the benefits by receiving

a dividend or by selling their shares for more money than they originally paid Whenthe company loses money, however, the dividends are reduced or eliminated and theshare price tends to fall In the worst case, the company goes bankrupt, i.e owing morethan it can pay The shares then become worthless and the owners lose all the moneyinvested in them

A company's shareholders are paid last after the suppliers, after the banks, andafter the bondholders The risk is that there may be nothing left for stockholders aftereveryone else has been paid off The reward is that when a company earns a lot, thestockholders get it all With equity, there is higher risk but also the opportunity forgreater reward

All investments involve a certain amount of risk, but a stock is generallyconsidered much more risky than a bond, which is an agreement by the company topay a specific amount of money at a specific time In contrast to the fixed income of abond, the return on an equity investment is unknown To reward investors for this risk,equity tends to provide a higher return, either in the form of dividend payments or by

an increase in value, when the company retains its earnings Stocks often rise and fall

in value rapidly, while bonds tend to be more stable Bondholders are creditors of acompany with a guaranteed return on their investment, whereas shareholders areowners, with all the risks and rewards ownership entails

International equity investment is not limited to the major financial center ofLondon, New York, and Tokyo Equity ownership can now mean a share of a fast-food store in Moscow, or it can mean a part of Thailand's booming manufacturingindustry It can be part ownership of a hotel in Rio de Janeiro or a light bulb company

in Budapest Equity means ownership, and ownership is now allowed in almost everycountry in the world

1 What is the risk for stockholders since they are paid last?

2 By what documents is ownership in an equity certified?

3 How are benefits of shareholders realized when the company makes a profit?

4 Is the equity investment limited to the major financial centers?

5 What is the price of the shares when the company goes bankrupt?

6 In what way do bonds differ from shares?

Tìm từ đồng nghĩa với từ được gạch chân

1 Any individual who holds shares owns a part of a company

2 Ownership is now allowed in almost every country in the world

a) friendship b) partnership c) private business

3 Equity means ownership which is now allowed in almost every country inthe world

G Hoàn thành phần bài viết dưới đây bằng cách điền vào ô trống các giới từ

phù hợp.

Most people pay their domestic bills (1) _ cash or (2) _ cheque.This is often unrealistic in business But allowing customers to buy large amounts ofstock (3) _ credit is not without its problems It is extremely difficult to ask avalued customer for payment (4) _ advance because it may look as if you do nottrust them You cannot really charge them interest (5) _ the outstanding sumeither, even if they miss the agreed deadline for settlement, or they might get upset andwithdraw their business altogether

To make matters worse, many companies these days will deliberately sit (6) your invoice and wait to see how long it is before you actually put pressure (7) them to pay (8) Of course, you can ease both your cashflowsituation and theirs by offering them the facility to pay (9) what they owe you(10) regular instalments But that does not mean they will not fall (11) with their repayments when they are short of cash And you may end upwriting (12) half of the debt altogether

Things would probably be a lot simpler if everyone paid (13) front forthe goods they bought and in theory a customer should be able to pay straightaway (14) direct bank transfer This, of course, would mean customers remained (15) constant credit with their suppliers, but it would also prevent them from playing

the waiting game with their creditors Since most companies cannot pay you your moneytill they get theirs, they will continue to conserve cash until the very last minute.

H Nhiều người thỉnh giáo Kenny Cookham, chuyên viên kế toán quản trị, về

kiểm soát tín dụng, dòng tiền, … Đọc phần tóm tắt bài thuyết trình của Kenny.

A company with more debts than money to pay them, or in other words moreliabilities than assets, is insolvent and if a creditor takes the matter to court thecompany may be declared bankrupt This situation can arise even if the company haswonderful sales figures How is this possible? Some people say that it is not moneythat makes the world go round, but credit Getting orders is tough enough, but gettingpaid can be even tougher If the company's cash is tied up in stocks of materials andcredit to customers it may not have enough cash to pay short-term expenses It has acash-flow problem Managerial accountants and financial directors know that whatdistinguishes an efficiently managed business from a poorly managed one is the way itcontrols credit and manages cash-flow, in other words the skill with which a companycan make its creditors wait and put pressure on its debtors So how can credit becontrolled, and the risk of bad debt be minimized? The ideal solution would be tomake the customer pay up front, but the goodwill of your customers is vital to securingtheir business in the future Charge interest on outstanding debts and again you riskalienating your customers Debts do of course show up in a company's assets, but it ishard cash, not promises to pay, that finances new projects Promises are oftenforgotten, and creditors have better memories than debtors

Dưới đây là các câu hỏi Kenny đã cố gắng giải đáp Lựa chọn câu trả lời phù hợp (A, B hoặc C) với mỗi nội dung.

1 What is the difference between insolvent and bankrupt?

A Insolvency and bankruptcy are the same

B Insolvency and bankruptcy are similar but there is a legal difference

C Insolvency and bankruptcy are two completely different things

2 How is it possible to have good sales figures and a cash-flow crisis?

A You can’t have a cash-flow problem if you sell a lot

B If you sell a lot you will always have a cash-flow problem

C If you sell a lot and the customers take a long time to pay you may have

a cashflow problem

3 How can credit be controlled?

A It is impossible to control credit

B It’s best to make the customers pay up front

C Efficient financial management is the key to controlling credit

4 How can a company minimize the risk of bad debt?

A The best way to minimize bad debt is to charge the customer extra for paying late

B It’s a question of skillful management

C The best way to minimize bad debt is to take the customer to court

5 Why not to make the customer pay in advance?

A If you make the customer pay up front you risk losing their goodwill

B It’s impossible to make the customer pay up front

C If you make the customer pay up front they will take you to court

CHƯƠNG 3: ANALYZING AND RECORDING TRANSACTIONS

“We don’t do press releases on all of our transactions.”

Scott Jones

Sử dụng các gợi ý để điền các thuật ngữ bên vào ô chữ.

MỞ ĐẦU

Journal Ledger Transaction Account Posting Receipt

ANALYZING TRANSACTIONS

The first step in the accounting process is to analyze every transaction (economicevent) that affects the business The accounting equation (Assets = Liabilities + Owner'sEquity) must remain in balance after every transaction is recorded, so accountants mustanalyze each transaction to determine how it affects owner's equity and the differenttypes of assets and liabilities before recording the transaction

Assume Mr J Green invests $15,000 to start a landscape business Thistransaction increases the company's assets, specifically cash, by $15,000 and increasesowner's equity by $15,000 Notice that the accounting equation remains in balance

Mr Green uses $5,000 of the company's cash to place a down-payment on aused truck that costs $15,000, and he signs a note payable that requires him to pay theremaining $10,000 in eighteen months This transaction decreases one type of asset(cash) by $5,000, increases another type of asset (vehicles) by $15,000, and increases aliability (notes payable) by $10,000 The accounting equation remains in balance, and

Mr Green now has two types of assets ($10,000 in cash and a vehicle worth $15,000),

a liability (a $10,000 note payable), and owner's equity of $15,000

TỪ VỰNG 1 – Từ vựng theo ngữ cảnh

Given the large number of transactions that companies usually have,accountants need a more sophisticated system for recording transactions than the oneshown on the previous page Accountants use the double-entry bookkeeping system tokeep the accounting equation in balance and to double-check the numerical accuracy

of transaction entries Under this system, each transaction is recorded using at leasttwo accounts An account is a record of all transactions involving a particular item

Companies maintain separate accounts for each type of asset (cash, accountsreceivable, inventory, etc.), each type of liability (accounts payable, wages payable,notes payable, etc.), owner investments (usually referred to as the owner's capitalaccount in a sole proprietorship), owner drawings (withdrawals made by the owner),each type of revenue (sales revenue, service revenue, etc.), and each type of expense(rent expense, wages expense, etc.) All accounts taken together make up the generalledger For organizational purposes, each account in the general ledger is assigned anumber, and companies maintain a chart of accounts, which lists the accounts andaccount numbers

Account numbers vary significantly from one company to the next, depending

on the company's size and complexity A sole proprietorship may have few accounts,but a multinational corporation may have thousands of accounts and use ten- or eventwenty-digit numbers to track accounts by location, department, project code, andother categories Most companies numerically separate asset, liability, owner's equity,revenue, and expense accounts A typical small business might use the numbers 100–

199 for asset accounts, 200–299 for liability accounts, 300–399 for owner's equityaccounts, 400–499 for revenue accounts, 500–599 for cost of sales expense accounts,and 601–699 for operating expense accounts

Tìm từ hoặc cụm từ trong bài khóa theo giải nghĩa sau.

a a business deal or action, such as buying or selling something

b having a value in money

c highly complicated or developed

d the usual way of keeping a company's financial records, in which eachamount spent, received, etc is recorded with a credit in one account and adebit in another _

e a business that is owned and run by one person _

f a company's accounting records

g list of all accounts used in the ledger by a company _

h A corporation with operations in two or more countries

1 How do accountants record transactions of a business during an accountingyear or a period of operation?

2 Work with a partner and describe the basic accounting cycle

Debits and Credits

A T-account represents a ledger account and is a tool used to understand the effects

of one or more transactions Its name comes from its shape like the letter T The layout of aT-account is the account title on top, a left, or debit side, and a right, or credit, side

The left side of an account is called the debit side, often abbreviated Dr The right side is called the credit side, abbreviated Cr To enter amounts on the left side of

an account is to debit the account To enter amounts on the right side is to credit theaccount The terms debit or credit does not mean increase or decrease Whether a debit

ĐỌC

THẢO LUẬN

or a credit is an increase or decrease depends on the account In an account where adebit is an increase, the credit is a decrease; in an account where a debit is a decrease,the credit is an increase The difference between total debits and total credits for an

account, including any beginning balance, is the account balance When the sum of

debits exceeds the sum of credits, the account has a debit balance It has a credit balance when the sum of credits exceeds the sum of debits When the sum of debits equals the sum of credits, the account has a zero balance.

Double-Entry Accounting

Double-entry accounting requires that each transaction affect, and be recorded

in, at least two accounts It also means the total amount debited must equal the total amount credited for each transaction Thus, the sum of the debits for all entries must

equal the sum of the credits for all entries, and the sum of debit account balances in theledger must equal the sum of credit account balances

The system for recording debits and credits follows from the usual accountingequation Two points are important here First, net increases or decreases on one side haveequal net effects on the other side For example, a net increase in assets must beaccompanied by an identical net increase on the liabilities and equity side Second, the left

side is the normal balance side for assets, and the right side is the normal balance side for

liabilities and equity This matches their layout in the accounting equation where assets are

on the left side of this equation, and liabilities and equity are on the right

Equity increases from revenues and owner investments and it decreases fromexpenses and owner withdrawals These important equity relations are conveyed byexpanding the accounting equation to include debits and credits in double-entry form

Increases (credits) to capital and revenues increase equity; increases (debits) to withdrawals and expenses decrease equity The normal balance of each account (asset, liability, capital,

withdrawals, revenue, or expense) refers to the left or right (debit or credit) side where

increases are recorded Understanding these diagrams and rules is required to prepare,

analyze, and interpret financial statements