Text 2.The accounting equation
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New words:

1. Accounting equation – бухгалтерская сбалансированность (дебета и кредита)

2. Entity – экономическая единица (пр. фирма), экономический объект, организация, предприятие

3. To define – определять, обозначать

4. To engage – нанимать работника, заниматься, принимать участие

5. Resource – ресурсы, средства, запасы

6. Finance – финансы, доходы, финансовое дело

7. Assets – активы баланса, имущество, достояние, средства, капитал, фонды

8. Benefit – прибыль, выгода, полезность

9. Furniture – мебель, обстановка, оборудование, инвентарь

10. Fixture – сделка, фрахтовая сделка, фрахтование, арматура, приспособления, принадлежности

11. Machinery – машинное оборудование, машины

12. Liability – пассив, денежные обязательства, долги, задолженность, ответственность

13. To owe – быть должным, быть в долгу

14. Amount – количество, сумма, итог

15. Outflow – утечка, отлив, убыль

16. Debt – долг

17. Cash – наличные деньги

18. Goods – товар, товары, вещи, имущество

19. Services – услуги, сервис

20. Payable – документы (счета, векселя, чеки) к оплате

21. Account – счет

22. Note – банкнот, банковский билет

23. Promise – обещание, обязательство

24. A supplier – поставщик

25. To render – воздавать, отдавать, оказывать помощь

26. Lender – кредитор, взаимодавец, ссудодатель

27. Owner’s equity – собственный (акционерный) капитал (компании)

28. To exceed – превышать, превосходить

29. Proprietorship – собственность, права собственности

30. Net worth – стоимость имущества за вычетом обязательств, собственный капитал

31. Capital – капитал, фонды

32. Total – суммарный, общий, полный

33. Equal – одинаковый, равный

34. To refer to – ссылаться, указывать

35. Value – ценность, стоимость, сумма векселя или тратты

36. To borrow – получать заем, занимать деньги, брать взаймы

37. Distrinction – отличие, различие

38. Affair – дело, занятие, предприятие

39. Equipment – снаряжение, оборудование, оснащение

40. To calculate – вычислять, подсчитывать

41. Subtracting – извлекать

42. To identify – идентифицировать, устанавливать тождество, устанавливать подлинность

43. To increase – увеличивать (ся), возрастать

44. To decrease – уменьшать (ся), сокращать (ся)

45. Balance – баланс, сальдо, состояние счета

46. Virtually – фактически, в сущности, поистине

The accounting elements:

Before the accounting process begins, the entity to be accounted for must be defined. A business entity is an individual or organisation that engages in economic activities and controls specific economic resources. This definition allows the personal and business finances of an owner to be accounted for separately. Three basis accounting elements exist for every economic entity: assets, liabilities and owner’s equity.

Assets are items a business owns that will provide future benefits. Examples include money, merchandise, furniture, fixtures, machinery, buildings and land.

Liabilities are items owed to another business entity. The amount owed represents a future outflow of assets resulting from a past event of transaction. Liabilities are debts that the business can pay with cash, goods and services. The most common liabilities are accounts payable and notes payable. An account payable is an unwritten promise to pay a supplier for assets purchased or services rendered. Formal written promises to pay suppliers or lenders specified sums of money at definite future dates are notes as notes payable.

Owner’s equity is the amount by which the business assets exceeds the business liabilities. Other terms for owner’s equity include proprietorship, net worth and capital. If the business has no liabilities, the owner’s equity is equal to the total assets. A business owned by one individual is normally referred to as a proprietorship.

Business assets and liabilities are, for accounting purposes, separated from non-business or personal assets and liabilities. Virtually every individual has assets of some kind; i.e. clothes, TV-set, dishes or and other personal item of value. Likewise, some individuals have liabilities, which would most likely be money you owe to another person or business for something you purchased or borrowed. We always separate personal assets and liabilities from business assets and liabilities. In making this distinction, we allow the business owner to make decisions based on the financial results of the business apart from non-business affairs.

The accounting equation.

The relationship between the three basic accounting elements – assets, liabilities and owner’s equity – can be expressed in the form of a simple equation known as the accounting equation.

Assets = liabilities + owner’s equity

This equation shows that both outsiders and insiders have an interest in the assets of a business. Liabilities represent the outside interest of creditors. Owner’s equity represents the inside interests of owners. When two elements are known, the third can be calculated.

Дата: 2018-12-28, просмотров: 162.