•Welcome and Thank you for your interest in this course!
financial accounting
week 1
•Course Overview & Introduction
Course overview
•The Financial Statements
•Transaction Analysis
•Using Accrual Accounting to Measure Income
•Short-term Investments and Receivables
•Merchandise Inventory and Cost of Goods Sold
•Plant Assets, Natural Resources, and intangibles
•Current and Long-term Liabilities
•Stockholders’ Equity
•Long-Term Investments &The Statement of Stockholders’ Equity
•The statement of cash flows
Introduction
•Text
•Financial Accounting (6th Edition) (Charles T Horngren Series in Accounting)
•by Walter T. Harrison, Charles T. Horngren
•Course objectives
•Grading and typical grade distribution
•What to bring to class
•Typical class format
Course objectives
•Learning English Words and Expressions in Accounting
•Reading Accounting Reports in English
•Doing transactions in English
Grading and typical grade distribution
•Attending 10%
•Participation 30%
•Final-term Test 60%
Typical class format
•Presentation of review (5-10 Min, )
•Questions
•Group Discussion
•Answer & presentation
exercise
•Multiple Choice Question:
•1. Revenues are:
•a. Increases in paid-in capital resulting from the owners' investing in the business.
•b. Increases in retained earnings resulting from selling products or performing services.
•c. Decreases in liabilities resulting from paying off loan.
•d. All of above.
•2. the financial statments that reports revenues and expenses is called the :
•a. Statement of retained earnings
•b. Income statement
•c. Statement of cash flows.
•d. Balance sheet
•3.During the year, Semper Investments has $60,000 in revenues, $40,000 in expenses, $10,000 in inssuance of stock, $ 3,000 in dividend payments, and $15,000 in payments on accounts payable. stockholders' equity changed by:
•a. +$27,000
•b. +$42,000
•c. +$12,000
•d. -$8,000
•e. None of the above
•60,000-40,000+10,000-3,000=27,000
•4. Semper investments in question 7 had net income( or net loss) of :
•a. net income of 2,000
•b. net income of 27,000
•c. net income of 20,000
•d. net loss of 40,000
Recommendation
•For those students who are
•1. Interested in learning Accounting
•2. Interested in learning Professional English
•3. Like challenges
•You need to
•1.<<基础会计>> <<会计学>> >80分
•2.CET 4 > pass
•3.Having time to review this course
• You are expected to :Give Answers in English & Respect Your Classmates
What to Bring to Class
Calculator
English Dictionary
Accounting careers
•what kind of career can you have in accounting? Almost any kind you want. A career in accounting lets you use your analytic skills in a variety of ways, and it brings both monetary and personal rewards. According to the 2002 Jobs Rated Almanac, "accountant" was the fifth best job in terms of low stress, high compensation, lots of autonomy, and tremendous hiring demand.
Real cases
•After doing auditing work at KPMG and serving as a controller for a venture-capital-backed firm,David Kupferman started his own CPA practice. He specializes in serving high-net-worth individuals and businesses looking for sound advice along with technology ventures. Day to day, Kupferman provides taxation advice,litigation support, business valuation. complex business modeling, and CFO-like financial consulting for early stage companies. He has a particular interest in bringing foreign technology companies to the US and works with clients from Australia, Spain, Hungary, England, France, Singapore and Japan.
Key Terms intruduced in week 1
•accounting
•accounting equation
•assets
•auditors
•balance sheet
•bookkeeping
•business entity assumption
•common stock
•corporation
•cost principle
•equity
•ethics
•events
•expanded accounting equation
•expenses
•external transactions
•external users
•financial accounting
•financial accounting standard board
•full disclosure principle
•That's all in this week.
•Thank you for your corporation.
•See you next week.下载本文
