會(huì)計(jì)專業(yè)英語(yǔ)ppt課件(編輯修改稿)
2025-02-03 08:11 本頁(yè)面
【文章內(nèi)容簡(jiǎn)介】 flow and cash position. Revenue is recognized when cash is received and expense is recognized when cash is paid. ? Two types of cashbasis accounting exist: Strict cashbasis modified cashbasis AccrualBasis ? Records financial events based on economic activity rather than financial activity. ? Revenue is recorded when it is earned and realized, regardless of when actual payment is received. ? Expenses are “matched” revenue regardless of when they are actually paid. ? Accrual accounting is required by CAS and other financial accounting standards like GAAP, IFRS,etc. ? Comparison ? A simple Example ? Other considerations Accounting Assumptions CAS treats the following as the fundamental accounting assumptions: ? Entity ? Continuity ? Period of Time ? Moary Unit Financial Accounting Principles and Measurement Bases Financial accounting principles ? Cost Principle ? Revenue Recognition Principle ? Matching Principle ? Full disclosure Principle Cost Principle ? The cost principle states that assets should be recorded at their cost. Cost is the values exchanged at the time something is acquired. ? Cost is reliable. The values exchanged at the time something is acquired generally can be objectively measured and can be verified. Revenues Recognition Principle ? The revenue recognition principle dictates that revenue be recognized in the accounting period in which it is earned. ? Accountants follow the approach of “l(fā)et expenses follow revenue”. ? The nature of expenses: costs are the source of expenses. Costs that will generate revenues obly in the current accounting period are expensed immediately. ? Unexpired costs bee expenses in two ways 1. Cost of goods soled. 2. Operating expenses. Revenues Recognition Principle Cost Incurred Asset Expenses Provides future benefits Provides no apparent future Provides future benefits Unexpired Expired Cost Cost Benefits Decrease Illustration 12. Expense Recognition Matching Principle ? Once the economic life of a business has been divided into artificial time periods, the revenues recognition and matching principles can be applied. ? This one assumption and two principles thus provide guidelines as to when revenues and expenses should be reported. Time Period Assumption The economic l
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