会计专业英语.docx

会计专业英语

第一篇：会计专业英语Generallyacceptedaccountingprinciples,orGAAPastheyaremorecommonlyknown,arerulesforthepreparationoffinancialstatements.Everypubliclytradedcompanymustreleasetheirfinancialstatementseachyear.Thesestatementsareusedbyinvestors,banksandcreditorstodeterminethefinancialhealthofthecompanyanditssuitabilityforinvestmentorextensionofcredit.Inordertoproperlycompareandevaluatecompaniesandtheirresults,thefinancialstatementmustprovidesimilarinformationinasimilarformat.Everycountryhasitsowngenerallyacceptedaccountingprinciples,andallpubliclyreleasedfinancialstatementsmustcomplywiththeserules..Althoughthereisnocomprehensivelistofgenerallyacceptedaccountingprinciples,thestructureisbasedaroundfourkeyassumptions,fourbasicprinciplesandfourbasicconstraints..FourKeyAssumptionsThekeyassumptionsingenerallyacceptedaccountingprinciplesare:businessentity,goingconcern,monetaryunitandtimeperiodprinciple.Thebusinessentityassumptionistheideathatthebusinessfunctionsasalegalandfinancialentityseparatefromitsownersoranyotherbusiness.Thisassumptionmeansthatalltheamountsshownasrevenueorexpenseinthefinancialstatementsareforthebusinessaloneanddonotincludeanypersonalexpenses.“Goingconcern”istheassumptionthatthebusinesswilloperatefortheforeseeablefuture.Thisisimportantwhencalculatingthevaluesforassets,depreciationandamortization.Themonetaryunitassumptionisthatalltheamountslisteduseonestablecurrency,andthatanyamountsinanothercurrencyareclearlylisted.“Timeperiod”assumesthatallthetransactionsreporteddidinfactoccurwithinthetimeperiodaslisted.FourBasicPrinciplesThefourbasicprinciplesingenerallyacceptedaccountingprinciplesare:cost,revenue,matchinganddisclosure.Thecostprinciplereferstothenotionthatallvalueslistedandreportedarethecoststoobtainoracquiretheasset,andnotthefairmarketvalue.Therevenueprinciplestatesthatallrevenuemustbereportedwhenisitrealizedandearned,notnecessarilywhentheactualcashisreceived.Thisisalsoknownasaccrualaccounting.Thematchingprincipleholdsthattheexpensesinthefinancialstateme