Bài giảng môn Tiếng Anh chuyên ngành kế toán-tài chính

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TRƯỜNG ĐẠI HỌC KINH TẾ VÀ QUẢN TRỊ KINH DOANH THÁI NGUYÊN BỘ MÔN NGOẠI NGỮ BÀI GIẢNG MÔN TIẾNG ANH CHUYÊN NGÀNH (DÀNH CHO HỆ ĐÀO TẠO LIÊN THÔNG) Accounting and Finance Kế toán – Tài chính PHẠM CƯỜNG LƯU HÀNH NỘI BỘ
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH CHƯƠNG 1: THE WORLD OF ACCOUNTING “There's no business like show business, but there are several businesses like accounting.” David Letterman MỞ ĐẦU Liệt kê các chủ đề hoặc các nội dung liên quan tới chuyên ngành Kế toán. Accounting standards Accounting Bookkeeping Accounting equation 1 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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 and shows 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 sustain the 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 financial reports is the (2) ___. This report shows the economic performance of a business, whether it has made a (3) ___ or loss. The basic format is revenues less (4) ___ equals income (in Britain income is called profit). If expenses are greater than sales, then there is a loss. Another very important report is the (5) ___. This shows assets, liabilities, and owner’s equity of the business on a specific day, usually the 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 pay 2 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH ongoing 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 are current liabilities, which are debts payable within one year, while the latter are classified as long-term liabilities, which are debts payable over a longer period. PHẦN II. THẢO LUẬN VÀ ĐỌC HIỂU A. THẢO LUẬN 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? B. ĐỌC HIỂU 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 to you 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 interested parties, including internal users, such as a company's managers and employees, and external users, such as creditors, potential investors, governmental agencies, financial analysts, and labor unions, rely on a company’s financial information to help them make informed financial decisions. An effective accounting system, therefore, must include accurate collecting, recording, classifying, summarizing, interpreting, and reporting of information on the financial status of an organization. 3 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH In order to achieve a standardized system, the accounting process follows accounting principles and rules. Regardless of the type of business or the amount of money 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 income statement. The balance sheet shows the financial position of a company at one point of time, while the income statement shows the financial performance of a company over a period of time. Financial statements allow interested parties to compare one organization to another and/or to compare accounting periods within one organization. For example, an investor may compare the most recent income statements of two corporations in order to find out which one would be a better investment. People who specialize in the field of accounting are known as accountants. In the United States, accountants are usually classified as public, private, or governmental. Public accountants work independently and provide accounting services such as auditing and tax computation to companies and individuals. Public accountants may earn the title of CPA (Certified Public Accountant) by fulfilling rigorous requirements. Private accountant work solely for private companies or corporations that hire them to maintain financial records, and governmental accountants work for government 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 financial information that is necessary for organizational decision-making. Từ vựng - ability (n) - khả năng, năng lực - communicate (v) - truyền đạt - interested parties (n) – các bên quan tâm - creditors (n) – các chủ nợ - potential investors (n) – các nhà đầu tư tiềm năng - governmental agencies (n) – các cơ quan chính phủ 4 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH - 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 make financial decisions. A. managers C. potential investors B. creditors D. all of the above 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 ___. A. bank books C. financial statements B. computers D. cash registers 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. A.salary B. weekly C. fee D. monthly 5 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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. Tuy nhiên, 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. 6 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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 đề quan hệ không hạn định và phải được ngăn cách với mệnh đề chính. Cùng xem xét 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 are transfers of legal property rights made under contractual (2) . Non-ﬁnancial transactions are speciﬁcally excluded due to conservatism and materiality 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 one account, and a corresponding (6) in another account. Basically, the sum of all debits should always equal the sum of all credits; this provides 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 to Ancient 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 to keep bookkeeping relevant to capital (10) or production capacity, 7 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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 8 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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. 9 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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 letters and memoranda is 8½ X 11 inches. b. The accounts department ___ its procedures for recording and presenting financial information. c. Nowadays, rigorous ___ are enforced in the area of food processing 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 of keeping full, accurate, up-to-date business (1) ___. Proper bookkeeping can help businesses (2) ___ manage cash flow, stay abreast of profits and losses, and develop plans for the future based on financial trends. Furthermore, accurate bookkeeping 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 and organizations are also recorded in a company's (5) ___. A company's books are used to determine the amount of taxes the company must pay. They are also used in preparing (6) ___. Sometimes, a tax agency may decide 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 accurate records for the tax agency's inspection. Failure to do so could (7) ___ fines, penalties, or in severe cases, imprisonment. 10 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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 the books 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 many companies, not all business owners can afford to do so. This is particularity true of smaller, home-based, or start-up businesses. (9) ___, there are many computer bookkeeping programs designed to make the task of keeping the books manageable and less time consuming. Many bookkeeping programs (10) ___ all of the calculations for the user, taking the worry out of keeping accurate figures. 1. A. records B. deals C. account D. contacts 2. A. affect B. effect C. effective D. effectively 3. A. return B. authorities C. income D. payments 4. A. encompasses B. deducts C. makes up D. takes away 5. A. files B. folders C. books D. magnetic disks 6. A. tax breaks B. tax returns C. tax credits D. tax shelters 7. A. result from B. cause C. lead to D. file for 8. A. accuracy B. accurate C. inaccurate D. inaccuracy 9. A. Unluckily B. However C. Fortunately D. Likewise 10. A. face B. deal C. encounter D. handle 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 and saving, people and businesses turn to paper and pencil – and now to computers – to plan what is going to happen with their money and account for what is happening or has happened to it. A financial plan is called a budget. 11 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH This universal problem affects not only the individual, but all entities – small businesses, big corporations, non-profit organizations, and the government. Many politicians have made many speeches about cost over-runs and budget deficits caused by expenses being greater than income. Husbands and wives worry about living within their means, and parents caution children about over-spending their allowances. A budget is, quite simply, a forecast of what the revenue will be (how much money 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 purchases expenditures. If the budget is for a profit-making entity, the revenue should exceed the expenses and the bottom line should show a profit. The family hopes to have a balanced budget, and politicians often demand the government balance its budget, too. Budgets are prepared for certain periods of time. For example, a 12-month accounting period is called a financial year. When the year begins, it then becomes the task of the bookkeeper to record or enter the income and expense in journals and ledgers. The accountant then counts up and analyzes the financial status and the financial progress of the entity. The financial status is shown in a balance sheet which shows 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 a financial 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 - journals (n) - sổ nhật ký - ledgers (n) - sổ cái - profit (n) - lợi nhuận - loss (n) – lỗ 12 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH Xác định các thông tin sau có phù hợp với nội dung trong bài đọc không. Nếu thông tin sau là đúng, ghi TRUE, nếu thông tin đó sai, ghi FALSE. 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, the business 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 and expenditures in journals and ledgers. 6. The balance sheet gives information about the entity’s earnings and expenditures. 13 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH CHƯƠNG 2: THE ACCOUNTS MỞ ĐẦU Brainstorm a list of a company’s assets, debts and capital resources. Land Stocks Assets Buildings Owner’s equity Bank loans Liabilities 14 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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. A. Accounts payable C. Income tax B. Withdrawals D. Accounts receivable 2. Payment for the use of someone else's property. A. Rent C. Income tax B. Revenue D. Dividend 3. The cost of the supplies used in running an office. A. Revenue C. Dividends B. Office supplies D. Withdrawals 4. Amounts owed to others but not yet paid. A. Income tax C. Accounts payable B. Accounts receivable D. Withdrawals 5. Amounts of money invested into businesses in order to earn more money. A. Income tax C. Revenue B. Investments D. Dividends 6. Amount of money taken out of the business by the owner for personal use. A. Withdrawals C. Income tax B. Dividends D. Investments 7. The direct expenses to produce, manufacture, or purchase the goods or services you sell. A. Withdrawals C. Cost of goods B. Dividends D. Rent 8. Direct tax on the earnings of individuals and corporations. A. Income tax C. Rent B. Revenue D. Investments 9. Earnings distributed to stockholders. A. Rent C. Dividends B. Revenue D. Investments 15 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 10. The total amount of money a business takes in during a given period by selling goods and services. A. Rent C. Investments B. Dividends D. Revenue B. Ghép các thuật ngữ tiếng Anh kế toán bên trái với giải nghĩa bên phải. 1. the cost involved in selling goods, paying shop a. current assets and office staff, advertising, etc. 2. debts that will not have to be paid for several b. fixed assets years (e.g. money borrowed by selling shares or mortgaging property) 3. the cost to the firm of the merchandise sold c. intangible assets (including the cost of raw materials, labour, factory overheads) 4. cash, or other assets, that will be changed into d. current liabilities cash or consumed within a short time e. long-term liabilities 5. the value of goods that are in stock and for sale 6. the profit from sales after the costs of selling, and f. cost of sales general expenses, have been subtracted 7. assets that are intended for use rather than sale, g. gross profit on sales and that will be of use for more than one year (e.g. buildings, cars). Also known as plant assets. 8. assets that do not have physical reality, such as the h. net operating profit goodwill of customers, trade connections, patents, copyrights i. merchandise inventory 9. debts that have to be paid within a short time 10. the profit left after the cost of selling has been j. selling and general expenses subtracted from the value of sales PHẦN II. THẢO LUẬN VÀ ĐỌC HIỂU A. THẢO LUẬN 16 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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, analyzes and records their effects, and summarizes and presents information in reports and financial statements. The accounting process that focuses on analyzing and recording transactions and events follows these steps. Business transactions and events are the starting points. Relying on source documents, the transactions and events are analyzed using the accounting equation to understand how they affect company performance and financial position. These effects 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 balance help summarizes and classifies the effects of transactions and events. Ultimately, the accounting process provides information in useful reports or financial statements to decision makers. Source documents identify and describe transactions and events entering the accounting process. They are the sources of accounting information and can be in either hard copy or electronic form. Examples are sales tickets, checks, purchase orders, bills from suppliers, 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 accounts because of its type of operations. Accounts are arranged into three general categories (based on the accounting equation), as shown below. Asset accounts 17 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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 later incurred, the amounts in prepaid accounts are transferred to expense accounts. Common examples of prepaid accounts include prepaid insurance, prepaid rent, and prepaid services (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 financial statements are prepared, prepaid accounts are adjusted so that (1) all expired and used prepaid accounts are recorded as regular expenses and (2) all unexpired and unused prepaid 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 asset account. When supplies are used, their costs are transferred from the asset accounts to expense 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 18 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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 has several 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 law gives creditors a right to force the sale of that company’s assets to obtain the money to meet creditors’ claims. When assets are sold under these conditions, creditors are paid first, but only up to the amount of their claims. Any remaining money, the residual, goes to the owners of the company. Creditors often use a balance sheet to help decide whether to loan money to a company. A loan is less risky if the borrower’s liabilities are small in comparison 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 Payable account 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 for products or services (before revenue is earned), the revenue recognition principle requires that the seller consider this payment as unearned revenue. Examples of 19 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH unearned 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, Unearned Store Sales, and Unearned Ticket Revenue. When products and services are later delivered, the earned portion of the unearned revenue is transferred to revenue accounts 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 liability accounts 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 after deducting 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 company’s operations. Xác định các thông tin phía dưới có phù hợp với nội dung trong bài đọc không. Nếu thông tin đó là đúng, ghi TRUE, nếu thông tin đó sai, ghi FALSE. 20 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 1. The Cash account shows the value of money that the company keeps in the bank accounts and in the cash registers. 2. The amount of money that customers owe to the corporation is recorded in the 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 cash registers 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 are sold 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 have not 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 the common stock, and retained earnings. Các tài khoản nào sau không thuộc nhóm tài khoản tài sản? A. cash B. other businesses’ securities (stocks and bonds) that are marketable C. account receivables D. accounts payable E. prepaid expenses F. unearned store sales G. land H. dividends I. interest payable J. buildings K. equipment 21 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH L. wages M. common stock N. retained earnings PHẦN III. TRỌNG TÂM NGỮ PHÁP CONDITIONALS (CÁC LOẠI CÂU ĐIỀU KIỆN) A. Giới thiệu Câu điều kiện được sử dụng để nói về các tình huống và kết quả của nó. Câu điều kiện phải có 2 mệnh đề: mệnh đề chính và mệnh đề điều kiện. Mệnh đề điều kiện Mệnh đề chính If we break into the EU market, our sales will increase a lot. Mệnh đề 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 thể xảy 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 điều khoản 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 22 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH  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 kiện loại 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 trong quá 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. F. Trường hợp đặc biệt  Đôi khi việc kết hợp các mệnh đề điều kiện với mệnh đề chính không tuân theo các cấu trúc nói trên. Hãy nghiên cứu một số ví dụ sau. If the manager had not disguised the company’s financial situation, he would not be in trouble now. If oil price were not higher than they were in 2002 when we imported it, we would have earned a lot of money. We would be grateful if you would send us your payment made out to the order of “Media Mart”. 23 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH PHẦN IV. BÀI TẬP ĐỀ NGHỊ A. Phân loại các tài sản sau bằng cách đánh dấu √ vào cột tương ứng. Name of Account Current Fixed Current Long-term Asset Asset Liability Liability Accounts receivable Accounts payable Notes payable Mortgage payable Cash Supplies Salaries payable Land Equipment Goodwill Bonds Buildings Patents Income Tax payable B. Phân loại tài khoản Derwood Corporation lập bảng cân đối kế toán sử dụng các phân loại tài khoản sau: 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 tài khoản để phân loại các tài khoản sau. ___ a. Office Supplies ___ b. Accounts payable ___ c. Store equipment ___ d. Merchandise inventory (ending balance) 24 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH ___ e. Common stock ___ f. Land held for future expansion ___ g. Patents ___ h. Bonds payable ___ i. Retained earnings ___ j. Allowance for uncollectible accounts ___ k. Mortgage payable ___ l. Short-term investments ___ m. Notes receivable due in 6 months ___ n. Salaries payable ___ o. Prepaid Insurance C. Phân loại các tài khoản 1. Accounts Payable A. Owner’s equity B. Asset C. Liability D. Expense 2. Interest receivable A. Expense B. Asset C. Owner’s equity D. Revenue 3. Vehicles A. Revenue B. Expense C. Owner’s equity D. Asset 4. Buildings A. Owner’s equity B. Asset C. Revenue D. Expense 5. Insurance A. Owner’s equity B. Asset C. Revenue D. Expense 6. Sales A. Revenue B. Expense C. Owner’s equity D. Asset 7. Cost of Goods Sold A. Asset B. Liability C. Owners' Equity D. Expense 8. Accounts Receivable A. Asset B. Liability C. Revenue D. Expense 9. Furniture A. Asset B. Liability C. Owners' Equity D. Expense 10. Common Stock A. Owners' Equity B. Asset C. Revenue D. Expense 25 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 11. Prepaid Expenses A. Asset B. Liability C. Owners' Equity D. Expense 12. Retained Earnings A. Owners' Equity B. Revenue C. Expense D. Asset 13. Inventories A. Owner’s equity B. Asset C. Revenue D. Expense 14. Cash at Bank A. Owners' Equity B. Revenue C. Expense D. Asset 15. Goodwill 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 convertibility prepaid expenses fixed assets long-term assets intangible assets Assets are the economic resources of an organization that can usefully be expressed in monetary terms. The assets can be classified into (1) ___ and (2) ___. Current assets are cash and the assets that will be converted into 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 receivable and marketable securities. (4) ___ such as insurance, rent, and supplies are normally consumed during the operating cycle rather than converted into cash. Long-term assets are relatively long-lived assets used in operating an organization and may be further classified into (5) ___ (or plant and 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 the long-term assets. (7) ___ are normally shown at their original cost. The accumulated portion of the cost taken as depreciation to date is subtracted from its original cost to obtain the (8) ___ of the asset. Intangible 26 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH assets 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 or one operating cycle of the business is classified as a current liability. ___ 2. Assets are the economic resources that are expected to produce future benefits. ___ 3. An asset that may reasonably be expected to be realized in cash or be consumed 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. ___ 5. Current assets include cash, short-term investments, prepaid expenses, and accounts payable. ___ 6. Long-lived assets (resources used to produce or sell products or services) that lack physical form and have benefits that are uncertain are called intangible assets. ___ 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 this company." 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. When 27 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH the company loses money, however, the dividends are reduced or eliminated and the share price tends to fall. In the worst case, the company goes bankrupt, i.e. owing more than it can pay. The shares then become worthless and the owners lose all the money invested in them. A company's shareholders are paid last after the suppliers, after the banks, and after the bondholders. The risk is that there may be nothing left for stockholders after everyone else has been paid off. The reward is that when a company earns a lot, the stockholders get it all. With equity, there is higher risk but also the opportunity for greater reward. All investments involve a certain amount of risk, but a stock is generally considered much more risky than a bond, which is an agreement by the company to pay a specific amount of money at a specific time. In contrast to the fixed income of a bond, 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 a company with a guaranteed return on their investment, whereas shareholders are owners, with all the risks and rewards ownership entails. International equity investment is not limited to the major financial center of London, 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 manufacturing industry. 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 every country 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. 28 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH a) stocks b) ownership c) money 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 in the world. a) share b) goods c) interest rate G. Hoàn thành phần bài viết dưới đây bằng cách điền vào ô trống các giới từ phù hợp. by on in up off behind Most people pay their domestic bills (1) ___ cash or (2) ___ cheque. This is often unrealistic in business. But allowing customers to buy large amounts of stock (3) ___ credit is not without its problems. It is extremely difficult to ask a valued customer for payment (4) ___ advance because it may look as if you do not trust them. You cannot really charge them interest (5) ___ the outstanding sum either, even if they miss the agreed deadline for settlement, or they might get upset and withdraw 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 cashflow situation 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 up writing (12) ___ half of the debt altogether. Things would probably be a lot simpler if everyone paid (13) ___ front for the 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 money till 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. 29 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH A company with more debts than money to pay them, or in other words more liabilities than assets, is insolvent and if a creditor takes the matter to court the company may be declared bankrupt. This situation can arise even if the company has wonderful sales figures. How is this possible? Some people say that it is not money that makes the world go round, but credit. Getting orders is tough enough, but getting paid can be even tougher. If the company's cash is tied up in stocks of materials and credit to customers it may not have enough cash to pay short-term expenses. It has a cash-flow problem. Managerial accountants and financial directors know that what distinguishes an efficiently managed business from a poorly managed one is the way it controls credit and manages cash-flow, in other words the skill with which a company can make its creditors wait and put pressure on its debtors. So how can credit be controlled, and the risk of bad debt be minimized? The ideal solution would be to make the customer pay up front, but the goodwill of your customers is vital to securing their business in the future. Charge interest on outstanding debts and again you risk alienating your customers. Debts do of course show up in a company's assets, but it is hard cash, not promises to pay, that finances new projects. Promises are often forgotten, 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. 30 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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. 31 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH CHƯƠNG 3: ANALYZING AND RECORDING TRANSACTIONS “We don’t do press releases on all of our transactions.” Scott Jones MỞ ĐẦU Sử dụng các gợi ý để điền các thuật ngữ bên vào ô chữ. Journal Ledger Transaction Account Posting Receipt 32 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH TỪ VỰNG 1 – Từ vựng theo ngữ cảnh ANALYZING TRANSACTIONS The first step in the accounting process is to analyze every transaction (economic event) that affects the business. The accounting equation (Assets = Liabilities + Owner's Equity) must remain in balance after every transaction is recorded, so accountants must analyze each transaction to determine how it affects owner's equity and the different types of assets and liabilities before recording the transaction. Assume Mr. J. Green invests $15,000 to start a landscape business. This transaction increases the company's assets, specifically cash, by $15,000 and increases owner'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 a used truck that costs $15,000, and he signs a note payable that requires him to pay the remaining $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 a liability (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. 33 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH Given the large number of transactions that companies usually have, accountants need a more sophisticated system for recording transactions than the one shown on the previous page. Accountants use the double-entry bookkeeping system to keep the accounting equation in balance and to double-check the numerical accuracy of transaction entries. Under this system, each transaction is recorded using at least two accounts. An account is a record of all transactions involving a particular item. Companies maintain separate accounts for each type of asset (cash, accounts receivable, inventory, etc.), each type of liability (accounts payable, wages payable, notes payable, etc.), owner investments (usually referred to as the owner's capital account 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 general ledger. For organizational purposes, each account in the general ledger is assigned a number, and companies maintain a chart of accounts, which lists the accounts and account 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 even twenty-digit numbers to track accounts by location, department, project code, and other 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 equity accounts, 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 each amount spent, received, etc. is recorded with a credit in one account and a debit in another ___ e. a business that is owned and run by one person ___ 34 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 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 ___ THẢO LUẬN 1. How do accountants record transactions of a business during an accounting year or a period of operation? 2. Work with a partner and describe the basic accounting cycle. ĐỌC HIỂU 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 a T-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 the account. The terms debit or credit does not mean increase or decrease. Whether a debit 35 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH or a credit is an increase or decrease depends on the account. In an account where a debit 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 the ledger must equal the sum of credit account balances. The system for recording debits and credits follows from the usual accounting equation. Two points are important here. First, net increases or decreases on one side have equal net effects on the other side. For example, a net increase in assets must be accompanied 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 from expenses and owner withdrawals. These important equity relations are conveyed by expanding 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. 36 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH Journalizing and Posting Transactions Processing transactions is a crucial part of accounting. Step 1 analyzes a transaction and its source document(s) and applies double-entry accounting to identify the effect of a transaction on account balances. Step 2 requires that we record transactions in a record called a journal before recording them in accounts. This is to avoid the potential for error and the difficulty in tracking mistakes. A journal gives us a complete record of each transaction in one place. It also directly links the debits and credits for each transaction. The process of recording transactions in a journal is called journalizing. Step 3 is to transfer (or post) entries from the journal to the ledger. The process of transferring journal entry information to the ledger is called posting. Step 4 requires the preparation of a trial balance to check whether debit and credit account balances are equal. 38 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH Journalizing Transactions The process of journalizing transactions requires an understanding of a journal. While companies can use various journals, every company uses a general journal. It can be used to record any transaction and includes the following information about each transaction: (1) date of transaction, (2) titles of affected accounts, (3) amount of each debit and credit, and (4) explanation of the transaction. A complete journal entry gives us a useful description of the transaction and its effects on the organization. Posting Journal Entries To ensure that the ledger is up to date, entries are posted as soon as possible. This might be daily, weekly, or when time permits. All entries must be posted to the ledger by the end of a reporting period. This is so that account balances are current when financial statements are prepared. Because the ledger is the final destination for individual transactions, it is referred to as the book of final entry. When posting entries to the ledger, the debits in journal entries are copied into ledger accounts as debits, and credits are copied into the ledger as credits. For each journal entry, the usual process is to post debit(s) and then credit(s). The steps in posting are: (1) identify the ledger account that was debited in the journal entry, (2) enter the date of the journal entry in this ledger account, (3) enter the source of the debit in the PR column, both the journal and page - the letter G shows it came from the General Journal, (4) enter the amount debited from the journal entry into the Debit column of the ledger account, (5) compute and enter the account’s new balance in the Balance column, (6) enter the ledger account number in the PR column of the journal entry. 39 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH Posting in Computerized Systems Computerized systems require no added effort to post journal entries to the ledger. These systems automatically transfer debit and credit entries from the journal to the ledger database. Journal entries are posted directly to ledger accounts. Many systems have programs that test the reasonableness of a journal entry and the account balance when recorded. Trial Balance A trial balance is a list of accounts and their balances at a point in time. Account balances are reported in the debit or credit column of the trial balance. The trial balance is used to check whether debit and credit account balances are equal and used as an internal report for preparing financial statements. Preparing statements is easier when we can take account balances from a trial balance instead of searching the ledger. We know that one or more errors exist when a trial balance does not balance (when its columns are not equal). When a trial balance does balance, the accounts are 40 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH likely free of the kinds of errors that create unequal debits and credits. Yet errors can still exist. One example is when a debit or credit of a correct amount is made to a wrong account. This can occur when either journalizing or posting. The error would produce incorrect balances in two accounts but the trial balance would balance. Another error is to record equal debits and credits of an incorrect amount. This error produces incorrect balances in two accounts but again the debits and credits are equal. We give these examples to show that when a trial balance does balance, it does not prove that all journal entries are recorded and posted correctly. In a computerized accounting system, the trial balance would always balance. Accounting software is such that unbalanced entries would not be accepted by the system. However, errors as described in the last paragraph can still exist in a computerized system. Câu hỏi phần đọc hiểu 1. What is a T-account like? 2. The first step in the accounting cycle consists of ___ a. determining when and if an economic event or transaction should be recorded in the accounting system b. journalizing transactions according to the rules of double-entry bookkeeping c. identifying the nature of the transaction in terms of how the company’s accounts are affected d. Answers a and c are both correct. 3. Does debit always mean increase and credit always mean decrease? 4. What kinds of transactions increase owner’s equity? What kinds decrease owner’s equity? 5. When does an account have zero balance? 6. Double-entry accounting requires that (select the best answer): a. All transactions that create debits to asset accounts must create credits to liability or owner’s equity accounts. b. A transaction that requires a debit to a liability account also requires a credit to an asset account. c. Every transaction must be recorded with total debits equal to total credits. 41 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 7. What is journalizing? What is posting? 8. What is often referred to as the book of final entry? 9. Why do we need the trial balance? 10. Can errors exist in a computerized accounting system? TỪ VỰNG 2 A. Lựa chọn thuật ngữ có nội dung phù hợp với giải nghĩa. 1. Source of information for accounting entries that can be in either paper or electronic form; also called business papers. A. Account C. Source documents B. T-account D. Journal 2. Liability created when customers pay in advance for products or services; earned when the products or services are later delivered. A. Account balance C. Unearned revenue B. Trial balance D. General journal 3. List of accounts used by a company; includes an identification number for each account. A. Chart of accounts C. Account B. Source documents D. T-account 4. Journal entry that affects at least three accounts. A. Compound journal entry C. General journal B. Account balance D. Journalizing 5. Recorded on the left side; an entry that increases asset and expense accounts, and decreases liability, revenue, and most equity accounts; abbreviated Dr. A. Credit B. Creditor C. Ledger D. Debit 6. Accounting system in which each transaction affects at least two accounts and has at least one debit and one credit. A. Double entry accounting C. T-account B. Balance column account D. Chart of accounts 42 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 7. Account showing the owner's claim on company assets; equals owner investments plus net income (or less net losses) minus owner withdrawals since the company's inception; also referred to as equity. A. Debt C. General journal B. Journal D. Owner’s capital 8. Process of transferring journal entry information to the ledger; computerized systems automate this process. A. Account C. Credit B. Journal D. Posting B. Xác định những giải nghĩa thuật ngữ sau là đúng hai sai. Nếu đúng, ghi TRUE. Ngược lại, ghi FALSE. 1. Account → Record within an accounting system in which increases and decreases are entered and stored in a specific asset, liability, equity, revenue, or expense. 2. Source documents → Source of information for accounting entries that can be in either paper or electronic form; also called business papers. 3. Credit → Recorded on the right side; an entry that decreases asset and expense accounts, and increases liability, revenue, and most equity accounts; abbreviated Cr. 4. General ledger or Ledger → All-purpose journal for recording the debits and credits of transactions and events. 5. Account balance → Difference between total debits and total credits (including the beginning balance) for an account. 6. Balance column account → Account with debit and credit columns for recording entries and another column for showing the balance of the account after each entry. 7. Journalizing → Process of recording transactions in a journal. 8. General Journal → Record in which transactions are entered before they are posted to ledger accounts; also called book of original entry. 9. Posting (PR) Reference → Process of transferring journal entry information to the ledger; computerized systems automate this process. 10. Double Entry Accounting → Accounting system in which each transaction affects at least two accounts and has at least one debit and one credit. 43 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 11. Posting → Process of transferring journal entry information to the trial balance; computerized systems automate this process. 12. Trial balance → Difference between total debits and total credits (including the beginning balance) for an account. TRỌNG TÂM NGỮ PHÁP MODALS (Động từ khuyết thiếu) A. Giới thiệu  Modals là các động từ khuyết thiếu như can, could, may, might, must, should, would, ought to. Chúng được gọi là động từ khuyết thiếu do chúng phải đi kèm với một động từ khác để diễn đạt các ý nghĩa như khả năng, sự cho phép, phỏng đoán, lời khuyên hoặc nghĩa vụ. We should carry out a market research to know what our customers really need and want. Oil prices may be much higher in the next five years. You can complain about the quality of their services. Consumers have to pay more for goods than they would in a market open to imports. Governments might seek foreign investment from multinational corporations through sales of government bonds.  Động từ khuyết thiếu có dạng phủ định. can - cannot / can’t could - could not / couldn’t may - may not / mayn’t (không phổ biến) might - might not / mightn’t (không phổ biến) must - must not / mustn’t should - should not / shouldn’t would - would not / wouldn’t ought to - ought not to / oughtn’t to (không phổ biến) B. Ý nghĩa của động từ khuyết thiếu  Động từ khuyết thiếu diễn đạt nhiều ý nghĩa khác nhau. Những ý nghĩa chính được diễn đạt bao gồm: 44 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH Sự cho phép You may leave if you have finished the report. Our loyal customers can get a ten percent discount for all the services they use. I wonder if I might employ extra staff for my branch. You could use the budget provided that you do not get in trouble with budget deficit. Năng lực Our new devisional manager can speak four languages fluently. The new production line can produce 1000 units per day. He could program a computer when he was only thirteen years old. Khả năng và phỏng đoán Making decisions in complicated situations can be extremely difficult. You can use ATM and debit cards to purchase goods and services. High levels of foreign debt could pose a problem in the future. It could be weeks before we get a reply. It would cost very much more for us to expand our business into Italy. America might sell more cars to that market if they were made with the steering wheel on the right. The firm may be forced to make a number of employees redundant in the coming months, but the situation may improve in the longer term. Trách nhiệm, nghĩa vụ, sự cần thiết và cấm đoán To run a business, firms must purchase what they need from the factor market. The minimum wage is a legal minimum amount that an employer must pay for one hour of work. As the EU expands, new members must meet specific economic standards before they can adopt the euro. We ought to increase our prices in order to make a profit. Retailers cannot / may not sell below cost price in some countries. You mustn’t enter a joint venture unless both parties benefit from the 45 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH deal. Lời khuyên, gợi ý, đề xuất, mời chào I would look for another distributor if I were you. They might be wise to stop advertising on television. If you need more information, you might try the Internet. May I suggest that you consider the matter further before taking any action? Perhaps you would like to pay a visit to London branch. I think we should employ some extra marketing staff for the campaign. Would you like to join our venture? BÀI TẬP ĐỀ NGHỊ A. Nối thuật ngữ kế toán với phần giải nghĩa phù hợp. 1. Ledger ___ 2. Journal ___ 3. Prepaid Expense ___ 4. Debit and Credit ___ 5. Closing Entries ___ 6. Unearned Revenues ___ 7. Account Cycle ___ 8. Adjusted trial balance ___ a. Trial balance taken immediately after all adjustments have been posted. b. The formal process by which the enterprise reduces all nominal accounts to zero and determines and transfers the net Income or net loss to an owners equity account. c. Revenues received in cash and recorded as liabilities before a company earns. d. Analysis of transaction and selected other events. e. The book or computer printouts containing accounts. f. Meaning left and right respectively to describe where a company entries in the recording process. 46 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH g. Assets paid for and recorded before a company use them. h. The "book of original entry" where the company initially records transaction and selected other events. B. Điền vào ô trống từ Debit hoặc Credit 1. The right side of an account is the ___ side. 2. Asset accounts are increased by a ___. 3. Liability accounts are decreased by a ___. 4. Expense accounts are increased by a ___. 5. The left side of an account is the___ side. 6. Revenue accounts are increased by a ___. 7. Owner's equity is increased by a ___. 8. The cash account is increased by a ___. 9. The accounts payable account is increased by a ___. 10. The dividend account is increased by a ___. 11. The accounts receivable account is decreased by a ___. 12. The retained earnings account is decreased by a ___. C. Xác định các câu sau có nội dung đúng hay sai. Nếu đúng, ghi TRUE. Ngược lại, ghi FALSE. 1. The accounting cycle begins at the start of a new accounting period. ___ 2. A journal entry can consist of no more than one account to be debited and one account to be credited. ___ 3. When a transaction is journalized, the total of the amounts debited must equal the total of the amounts credited. ___ 4. The general ledger contains the accounts that are used to prepare the financial statements. ___ 5. A ledger is sometimes referred to as a record of original entry. ___ 6. Closing entries are necessary if the business plans to continue operating in the future and issue financial statements each year. ___ 7. Closing entries are journalized after adjusting entries have been journalized. ___ 47 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 8. After closing entries have been journalized and posted, all temporary accounts in the ledger should have zero balances. ___ D. Sử dụng các thuật ngữ trong khung để hoàn thành các câu sau. accounting cycle closing entries journal post-closing trial balance fiscal year journalizing trial balance general journal posting general ledger source document ledger correcting entry compound entry 1. A(n) ___ is an accounting period of twelve months ending on the last day of any month. 2. The various activities a business completes to organize its accounting records in an orderly fashion is called the ___. 3. A(n) ___ is any type of business paper that verifies that a transaction occurred. 4. A(n) ___ is often called a book of original entry. 5. The ___ is an all-purpose journal used for recording business transactions. 6. Another term used for "recording" a business transaction is ___. 7. A(n) ___ is a journal entry with two or more debits or two or more credits. 8. Transferring data from the journal to the ledger is called ___. 9. The accounts used by a business can be kept on pages or cards, which are kept together in a book or file called a(n) ___. 10. Whether accounts are kept manually in a special file or electronically on magnetic disks or tapes, the ledger is often called a(n) ___. 11. A periodic report prepared by a business to test the equality of total debits and total credits in the ledger is called a(n) ___. 12. ___ are made to close out or reduce to zero the balance of certain general ledger accounts. 13. A(n) ___ is prepared to prove that debits in the ledger 48 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH accounts are equal to the credits after the closing entries have been posted. 14. Errors discovered after posting has taken place require a(n) ___. E. Hoàn thành đoạn bài viết sau với những từ trong khung. credits debits double-entry invoice journals ledger posted receipt transactions transferred trail balance vouchers Bookkeepers record every purchase and sale that a business makes, in the order that they take place, in (1) ___. On a later date, these temporary records are entered in or (2) ___ to the relevant account book or (3) ___. Of course the “books” these days are likely to be computers files. At the end of an accounting period, all the relevant totals are (4) ___ to the profit and loss account. (5) ___ bookkeeping records the dual effect of every transaction – a value both received and parted with. Payments made or (6) ___ are entered on the left- hand (debtor) side of an account, and payments received or (7) ___ on the right-hand side. Bookkeepers will periodically do a (8) ___ to test whether both sides of an account book match. In most business (9) ___, the seller of goods or services sends the buyer a bill or (10) ___, and later a (11) ___ acknowledge payment. Business are obliged to retain documents – known as (12) ___ - that support or prove an item in an account, and make them available to the internal and external auditors who check the accounts. Bookkeepers are not to be confused with librarians, who also keep books, or with bookmakers, who “make books” in the sense that they accept bets (on horse races, etc.) and traditionally wrote them down in a book like a bookkeeper’s journal. Accountants, unlike bookkeepers, analyze financial records, and decide how to present them. F. Khoanh tròn lựa chọn từ vựng phù hợp nhất với giải nghĩa. 1. The recording of debit and credit parts of a transaction. a. sales invoice c. journalizing b. source document d. double-entry accounting 49 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH 2. Information for each transaction recorded in a journal. a. invoice b. check c. journal d. entry 3. A business form giving written acknowledgment for cash received. a. check b. receipt c. invoice d. entry 4. A business form ordering a bank to pay cash from a bank account. a. invoice b. entry c. check d. receipt 5. A form on which a brief message is written describing a transaction. a. entry b. journal c. invoice d. memorandum 6. A business paper from which information is obtained for a journal entry. a. memorandum b. journalizing c. source document d. receipt 7. All-purpose journal for recording the debits and credits of transactions and events. a. trial balance b. journal c. general journal d. T-account 8. A journal with two amount columns in which all kinds of entries can be recorded. a. general journal b. source document c. memorandum d. journal 9. A form for recording transactions in chronological order. a. journal b. entry c. receipt d. journalizing 10. Journal entry that affects at least three accounts. a. general journal c. compound journal entry b. journalizing d. account balance 11. Tool used to show the effects of transactions and events on individual accounts. a. T-account b. account c. journal d. debtors 12. Process of transferring journal entry information to the ledger; computerized systems automate this process. a. posting b. account c. debtors d. credit 13. List of accounts and their balances at a point in time; total debit balances equal total credit balances. a. trial balance b. account balance c. dividends d. T-account 14. Account with debit and credit columns for recording entries and another column for showing the balance of the account after each entry. a. source documents c. T-account b. chart of accounts d. balance column account 15. A column in journals in which individual ledger account numbers are entered when entries are posted to those ledger accounts. a. balance column account c. source documents b. posting d. posting reference (PR) 50 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH G. Lựa chọn phương án đúng nhất để hoàn thành hoặc trả lời các câu sau. 1. If a transaction is properly analyzed and recorded, ___ a. only two accounts will be used to record the transaction. b. one account balance will increase and another will decrease. c. one asset account will be debited and one liability account will be credited. d. the total amount debited will equal the total amount credited. 2. When an entry is made in the general journal, ___ a. assets should be listed first. b. accounts to be debited should be listed first. c. accounts to be increased should be listed first. d. accounts may be listed in any order. 3. When an entry is made in the general journal, ___ a. the accounts to be credited should be indented. b. the first account entered should be indented. c. liability, capital, and revenue accounts should be indented. d. asset accounts should be indented. 4. A sales invoice is a source document that ___ a. provides support for goods purchased for resale. b. provides evidence of incurred operating expenses. c. provides evidence of credit sales. d. serves only as a customer receipt. 5. If an amount is recorded on the side of a T account opposite the normal balance side, the account balance is ___. a. increased b. decreased c. unaffected d. correct 6. When the owner invests cash in a business, the owner's capital account is ___. a. increased by a debit c. decreased by a debit b. increased by a credit d. decreased by a credit 7. When a business buys an asset on one date and agrees to pay on a later date, the transaction is ___. a. delayed c. on account b. increased d. none of the above 8. If total liabilities are $60,000, total assets are $180,000, and contributed capital is $100,000, then retained earnings would be: a. $20,000 b. $80,000 c. $120,000 d. $160,000 9. Which of the following are the elements of owners’ equity? a. Assets, liabilities, revenues and expenses b. Owner investments, withdrawals, revenues and expenses. 51 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH c. Assets, liabilities, owner investments and withdrawals. d. Revenues, expenses and withdrawals. 10. The journal entry to record the sale of services on account should include___ a. a debit to Accounts Receivable and a credit to Capital. b. a debit to Cash and a credit to Accounts Receivable. c. a debit to Fees Income and a credit to Accounts Receivable. d. a debit to Accounts Receivable and a credit to Fees Income. 11. The journal entry to record the sale of goods on credit is ___. a. Cash Sales b. Cash Service Revenue c. Accounts Receivable Service Revenue d. Accounts Receivable Sales 12. Unearned revenues are ___ a. received and recorded as liabilities before they are earned. b. earned and recorded as liabilities before they are received. c. earned but not yet received or recorded. d. earned and already received and recorded. 13. The purchase of supplies for cash would result in which of the following? a. A debit to cash. c. A credit to accounts payable. b. A credit to supplies. d. None of the above is true. 14. Owner withdrawals do not represent an expense because ___ a. cash is used as an investment. b. cash decreases and service revenue increases. c. cash is used for the owner’s personal transactions. d. cash decreases and owners’ equity increases. 15. Sales revenues are usually considered earned when ___ a. cash is received from credit sales. b. an order is received. c. goods have been transferred from the seller to the buyer. d. adjusting entries are made. 16. The journal entry to record the payment of salaries should include ___ a. a debit to Salaries Expense, and a credit to Cash. b. a debit to Capital and a credit to Cash. 52 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH c. a debit to Cash and a credit to Salaries Expense. d. a debit Salaries Expense and a credit to Accounts Payable. 17. A company shows a balance in Salaries Payable of $40,000 at the end of the month. The next payroll amounting to $50,000 is to be paid in the following month. What will be the journal entry to record the payment of salaries? a. Salaries Expense 50,000 Salaries Payable 50,000 b. Salaries Expense 50,000 Cash 50,000 c. Salaries Expense 10,000 Cash 10,000 d. Salaries Expense 10,000 Salaries Payable 40,000 Cash 50,000 18. The journal entry to record the payment of a monthly utility bill would include ___ a. a debit to Utilities Expense and a credit to Capital. b. a debit to Capital and a credit to Cash. c. a debit to Utilities Expense and a credit to Cash. d. a debit to Utilities Expense and a credit to Accounts Payable. 19. In the transaction, RECORDED CASH SALES FOR THE MONTH, you should ___ a. debit Cash and credit Merchandise. b. debit Cash and credit Sales and Sales Tax Payable. c. debit Cash and credit Accounts Receivable. d. debit Cash and credit Accounts Payable. 20. In the transaction, RECEIVED PAYMENT ON ACCOUNT FROM SMITH ELECTRONICS, you should ___ a. debit Accounts Payable/Smith Electronics and credit Cash. b. debit Cash and credit Accounts Payable/Smith Electronics. c. debit Cash and credit Accounts Receivable/Smith Electronics. d. debit Accounts Receivable/Smith Electronics and credit Cash. 21. Which of the statements below is NOT true? a. An adjusted trial balance should show ledger account balances. b. An adjusted trial balance can be used to prepare financial statements. c. An adjusted trial balance proves the mathematical equality of debits and credits in the ledger. d. An adjusted trial balance is prepared before all transactions have been 53 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH journalized. 22. Accounts often need to be adjusted because ___ a. there are never enough accounts to record all the transactions. b. many transactions affect more than one time period. c. there are always errors made in recording transactions. d. management can't decide what they want to report. 23. Adjusting entries are ___ a. not necessary if the accounting system is operating properly. b. usually required before financial statements are prepared. c. made whenever management desires to change an account balance. d. made to balance sheet accounts only. 24. Adjusting entries are required ___ a. because some costs expire with the passage of time and have not yet been journalized. b. when the company's profits are below the budget. c. when expenses are recorded in the period in which they are earned. d. when revenues are recorded in the period in which they are earned. 25. Closing entries are journalized and posted ___ a. before the financial statements are prepared. b. after the financial statements are prepared. c. at management's discretion. d. at the end of each interim accounting period. 54 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH CHƯƠNG 4: FINANCIAL STATEMENTS “There are far many more assets in your company than those that come up on the financial statement. Managing a company successfully involves more than just managing the stuff on the balance sheet.” ~ Tamara MacDuff MỞ ĐẦU Hãy liệt kê các loại báo cáo tài chính mà bạn biết. Balance Sheet Statement of Financial position Financial statements Profit and Loss Account Income statement 55 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH TỪ VỰNG 1 Match an accounting term on the right with its meaning on the left. Statement that summarizes Chart of accounts revenues and expenses Statement of a business’ assets, Income statement liabilities and owner’s equity Amount a business's revenues Balance sheet exceed (greater than) expenses A coded listing of all the Posting accounts in the general ledger Process of transferring journal Capital statement balances to the general ledger A financial report summarizing Profit all the changes in owner's equity THẢO LUẬN Work with a partner and discuss the following topics: 1. The purposes of preparing a balance sheet. 2. The purposes of preparing an income statement. ĐỌC HIỂU THE BALANCE SHEET Financial statements are the final product of the accounting process. They provide information on the financial condition of a company. The balance sheet, one type of financial statement, provides a summary of what a company owns and what it owes on one particular day. Assets represent everything of value that is owned by a business, such as property, equipment, and accounts receivable. On the other hand, liabilities are the debts that a company owes – for example, to supplier and banks. If liabilities are subtracted from 56 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH assets (assets – liabilities), the amount remaining is the owners’ share of a business. This is known as owners’ or stockholders’ equity. One key to understand the accounting transactions of a business is to understand the relationship of its assets, liabilities, and owners’ equity. This is often represented by the fundamental accounting equation: assets equal liabilities plus owners’ equity. Assets = Liabilities + Owners’ Equity (Shareholders’ Equity) These three factors are expressed in monetary terms and therefore are limited to items that can be given a monetary value. The accounting equation always remains in balance; in other words, one side must equal the other. The balance sheet expands the accounting equation by providing more information about assets, liabilities, and owner’s equity of a company at a specific time (for example, on December 31, 2009). It is made up of two parts. The first part lists the company assets, and the second part details liabilities and owners’ equity. Assets are divided into current and fixed assets. Cash, accounts receivable and inventories are all current assets. Property, building, and equipment make up the fixed assets of a company. The liabilities section of the balance sheet is often divided into current liabilities (such as accounts payable, and income taxes payable) and long-term liabilities (such as bonds and long-term notes). The balance sheet provides a financial picture of a company on a particular date, and for this reason, it is useful in two important areas. Internally, the balance sheet provides managers with financial information for company decision-making. Externally, it gives potential investors data for evaluating the company’s financial position. 57 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH A. Đọc bài khóa và trả lời các câu hỏi sau. 1. What is the final product of the accounting process? 2. Does the balance sheet provide financial information for a long period? 3. What is the difference between assets and liabilities? 4. How is owners’ or stockholders’ equity determined? 5. How can the relationship between assets, liabilities, and owners’ equity be represented? 6. Does the accounting equation always remain in balance? Why or why not? B. Dùng các từ trong khung hoàn thành Bảng cân đối kế toán sau. ▪ assets ▪ current liabilities ▪ current assets ▪ stockholders’ equity ▪ liabilities ▪ long-term liabilities ▪ fixed assets INCOME STATEMENT An Income Statement presents a company's revenues and expenses for a given accounting period, e.g., a month, quarter, or year. Also called a Statement of Earnings or a Statement of Operations, the income statement compares a company's revenues with its expenses during a specific period. Although income statements measure revenues, expenses, etc. in terms of dollars, these figures do not necessarily correspond to specific amounts of cash a company has. 58 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH For example, a company most likely does not have the amount of cash corresponding to its net income on an income statement. Instead, this figure represents both the actual cash the company has received as well as promises from customers and clients to pay the company for products and services purchased on credit. Nevertheless, companies record revenues when they earn them and expenses when they incur them, not when they actually receive cash. This practice is referred to as the accrual basis of accounting. The Financial Accounting Standards Board (FASB) establishes the definitions of key elements of the income statement, such as revenues, expenses, gains, and losses. Revenues (sales) refer to the total amount of money a business earns by selling its products or by providing its services during a specific period. Revenues also include money earned from dividends, and interest. Expenses refer to the total costs a company incurs for doing business in a specific period, such as the cost of materials, supplies, labor, leases, and utilities. In addition, expenses must directly relate to generating revenues for a company. Materials and utilities are obvious expenses, because a company needs both materials and utilities to manufacture and sell products. 59 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH Gains are increases in the excess of what a company owns over what it owes (owners' equity) from peripheral or incidental transactions of a business entity and from all other transactions and events affecting the company during the accounting period, except those that result from revenues or investments by owners. Examples are a gain on the sale of a building and a gain on the early retirement of long-term debt. Losses are decreases in owners' equity from peripheral or incidental transactions of a business entity and from all other transactions and events affecting the entity during the accounting period, except those that result from expenses or distributions to owners. Examples are losses on the sale of investments and losses from litigation. Net income, or the "bottom line," is the excess of all revenues and gains for a designated period over all expenses and losses of that period. Conversely, net loss is the excess of expenses and losses over revenues and gains for a designated period. The income statement can be prepared using either the single-step or the multiple-step format. The single-step format lists and totals all revenue and gain items at the beginning of the statement. All expense and loss items follow the revenue and gain items. Finally, the total expenses and losses are deducted from the total revenues and gains, yielding the net income. A sample income statement in the single- step format would look like this: 60 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH The multiple-step income statement, on the other hand, presents operating revenue at the beginning of the statement and non-operating gains, expenses, and losses near the end of the statement. Various items of expenses, however, are deducted throughout the statement at intermediate levels, providing useful subtotals along the way. The statement is arranged to show explicitly several important amounts, such as gross margin on sales, operating income, income before taxes, and net income. At the first step, the cost of products sold is deducted from the net revenues. At the second step, operating expenses are deducted. At the final step, non-operating revenues are added and non-operating expenses are subtracted resulting in the net income. Each format of the income statement has its advantages. The advantage of the multiple-step income statement is that it explicitly displays important financial and managerial information that the user would have to calculate from a single-step income statement. The single-step format has the advantage of being relatively simple to prepare and to understand. Here is a sample income statement in the multiple-step format: 61 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH Xác định các câu sau có phù hợp với nội dung bài đọc hay không. Ghi TRUE nếu nội dung câu đó phù hợp với nội dung bài đọc, ngược lại ghi FALSE. 1. Income statement shows the revenues and the expenses of a company during an accounting period. 2. The accounts included in the income statement must reflect the amounts of actual cash the company has received. 3. Dividends and interest cannot be added to revenue account. 4. Regardless of directly relating to generating the company’s revenues, all expenses must be included in the income statement. 5. A gain on the sale of a building and a gain on the early retirement of long- term debt during the accounting period must be included in the income statement. 6. Losses resulting from expenses or distributions to owners are shown on the income statement. 7. The bottom line shows the net income of the company at the end of the accounting period. 8. The multi-step income statement segregates the operating revenues and operating expenses from the non-operating revenues, non-operating expenses, gains, and losses. TỪ VỰNG 2 A. Xem lại Bảng cân đối kế toán và hoàn thành những chỗ trống sau. Class: Assets Class: Liabilities Members: current assets Members: Class: current assets Class: Members: Members: accounts payable Class: Class: long-term liabilities Members: Members: 62 © Không sao chép khi chưa được chấp thuận.
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH B. Gạch đi những mục không thuộc tài sản cố định. office supplies machinery land marketable securities buildings inventories cash plant equipment C. Các khoản nợ phải trả sau đây là dài hạn hay ngắn hạn? short-term notes payable accounts payable mortgage long-term notes payable bonds payable taxes payable CURRENT LIABILITIES LONG-TERM LIABILITIES D. Hoàn thành các câu sau. 1. The statement that shows net income for a period is known as the ___ statement. 2. The statement that shows net loss for a period is known as the ___ statement. 3. Another term for the income statement is the ___ ___ ___ account. 4. Two groups of items that make up the income statement are ___ and ___. 5. Withdrawal of money by the owner is not an expense but a reduction of ___ 6. To show the change in the capital of a business, the ___ statement is used. TRỌNG TÂM NGỮ PHÁP CÂU VÀ MỆNH ĐỀ THÀNH PHẦN TRONG CÂU A sentence has both a subject and a predicate and expresses a complete thought. Conventionally, a sentence begins with a capital letter and ends with a period, a question mark, or an exclamation mark. 63 © Không sao chép khi chưa được chấp thuận.