1 企业活动三类
Business activities can be classified as operating, investing or financing activities. Operating- undertaken in a firm's ordinary course of business. Investing refer to buying or selling long-term goods and services. Financing activities- issue debt, redeem debt, issue/repurchase common stock, paying cash dividends.
2 资产科目 firm's economic resources
Cash and cash equivalent, Accounts receivable(with contra account allowance for bad debt expense), inventory, financial assets, prepaid expenses, investment in affiliates, deferred tax assets, intangible assets.
3 负债科目 creditor claims on the company's resources
Accounts payable, financial liabilities, unearned revenue, income taxes payable,
long-term debt, deferred tax liabilities.
3 所有者权益科目 owner's equity
Capital, Additional paid-in capital, retained earnings, other comprehensive income.
4 收入科目 inflows of economic resources
Sales, Gains, Investment income
5 费用科目 outflows of economic resources
Cost of goods sold, Selling general and administrative expenses, Depreciation and amortization, tax expense, interest expense, Losses.
6 基本会计等式 assets= liabilities+ owners' equity
assets= liabilities+ contributed capital+ ending retained earnings
assets= liabilities+ contributed capital+ beginning retained earnings+ revenue- expenses- dividends
7 复式记账法 double entry accounting
8 权责发生制 accrual accounting
revenue and ex expenses are recorded as the firm incurs them, regardless of whether cash has actually been paid.
Unearned revenue- receive cash before delivering
Accrued revenue- provides good before payment
9 资产估值调整 valuation adjustments
change in asset values also change owners' equity, through gains or losses in the income statement or in "other comprehensive income".
10 会计系统中的信息流 information flows
【1】Journal entries- record every transaction, a date list of all journal entries is called the general journal.
【2】General ledger sorts the entries in the general journal by account.
【3】Initial trial balance试算平衡表 shows balances in each account at the end of the accounting period-adjusted trial balance.
【4】Account balances from adjusted trial balance are presented in the financial statements.
