【正文】 2020/6/30 Chen Jianhui 87 Exercises Turn the following into English: 1) summarized entry 2) ledger account 3) audible authority 2020/6/30 Chen Jianhui 88 4) cash book 5) cash payments and receipts 6) general ledger account 7) journal proper (day book) 8) ledger entry 9) account balance 10) trial balance 2020/6/30 Chen Jianhui 89 Multiple choice: 1) The prime entry records, other than the journal proper and the cash books, have historically been known as ________, covering sales, purchases, sales returns and purchases returns. A. bookkeeping B. day books C. final account D. profit and loss account B 2020/6/30 Chen Jianhui 90 2)A basic bookkeeping system prises a ledger which contains accounts, and prime entry records which act as “collectors” and “summarizers” of ________. A. financial data B. financial statements C. accountants D. accounting equation A 2020/6/30 Chen Jianhui 91 3) Unusually, the cash books have developed into both prime entries and ledger records of ________. A. payments and receipts B. profit and loss C. costs and expenses D. cash payments and receipts D 2020/6/30 Chen Jianhui 92 Part 5. Nostro and Vostro Accounts (往賬和來賬） From the point of view of an UK bank, a nostro account is our bank’s account in the books of an overseas bank. An example would be an account in the name of Midland Bank, in the books of Chemical Bank, New York, denominated in USD. Midland is a customer of Chemical Bank. ? nostro account 往帳（ =our account），存放國外同業(yè)帳戶，應(yīng)收外匯帳戶 (=due from bank account, due from balance)，本行帳戶。 2020/6/30 Chen Jianhui 82 The prime entry records, other than the journal proper and the cash books, have historically been known as day books, covering sales, purchases, sales returns and purchases returns. More monly, they are simply called sales journal, purchases journal and so on. 不同于一般日記帳和現(xiàn)金日記帳，基本帳目記錄在歷史上已經(jīng)稱為 “ 日記帳 ”，包括銷售，進(jìn)貨， 銷售退回 ， 進(jìn)貨退出 等。 ? revaluation reserve 重新定值的公積金 2020/6/30 Chen Jianhui 52 Suppose ABC finds that some of its assets, such as its land and buildings have recently risen in value, and suppose it wants to include the new value in item 1 of the balance sheet. Then the total value of item 5 will also rise. 2020/6/30 Chen Jianhui 53 This means that the value of item 9 will be less than the value of item 5 unless some other change is made. So ABC will raise the value of the revaluation reserve by just enough to ensure that item 9 now equals the new item 5. Finally, note that the total value of section 8 is called total shareholders’ funds. ? total shareholders’ funds 股東基金總額 2020/6/30 Chen Jianhui 54 Table Balance Sheet for ABC plc as at 30 June 1998 Item (￡ m) 1. Fixed assets Tangible assets 600 Intangible assets 10 Fixedasset investments 70 680 plc=(public limited pany) （上市）股份有限公司 2020/6/30 Chen Jianhui 55 2. Current assets Stocks 50 Debtors 150 Shortterm investments 100 Cash at bank and in hand 20 320 2020/6/30 Chen Jianhui 56 3. Current liabilities – amount due within one year Shortterm borrowings (150) Other current creditors (50) (200) 2020/6/30 Chen Jianhui 57 4. Net current assets (23) 120 5. Total assets less current liabilities (=1+4) 800 6. Noncurrent liabilities – amounts due after more than one year Medium and longterm borrowings 45 Other noncurrent creditors 5 50 2020/6/30 Chen Jianhui 58 7. Provisions for liabilities and charges 5 5 8. Capital and reserves Calledup share capital 100 Share premium account 150 Profit and loss account 470 Revaluation reserve 25 Total shareholders’ funds 745 9. = 6+7+8 800 2020/6/30 Chen Jianhui 59 Exercises Turn the following into English: 1) balance sheet 2) fixed asset 3) intangible asset 4) current asset 5) accrued ine 6) current liabilities 7) value added tax 2020/6/30 Chen Jianhui 60 Multiple choice: 1)Tangible assets, which include land and buildings, plants and machinery, tools and vehicles, and fixtures and fittings are the main example of _____. A. fixed assets B. current assets C. intangible assets D. capital and reserves A 2020/6/30 Chen Jianhui 61 2) Current assets contains items which usually have a high rate of _________. A. interest B. exchange C. discount D. turnover. D 2020/6/30 Chen Jianhui 62 3) Stocks of raw materials and finished goods together with the value of any work in progress on unfinished products are included in the section of _______. A. fixed assets B. current assets C. current liabilities D. Noncurrent liabilities B 2020/6/30 Chen Jianhui 63 4) Current creditors cover any money owed to other businesses as _________ together with any money owed to the government. A. trade debt and accrued ine B. debtors C. trade credit and accruals D. creditors C 2020/6/30 Chen Jianhui 64 5)__________ are the sums that ABC owes to others but need not pay to them for at least one year. A. current liabilities B. noncurrent liabilities C. fixed assets D. current assets B 2020/6/30 Chen Jianhui 65 Part 3. Financial Statements The analysis of the transactions pletes, what is the next step in the accounting process? How does an accountant present the results of the analysis? ? transaction: 交易 2020/6/30 Chen Jianhui 66 We now look at the financial statements, which are formal reports of financial information about the entity. The primary financial statements are: (1) balance sheet