►关键术语听与读

✧Accounting assumptions（会计假设）：The accounting assumptions are the prerequisites for the organization of accounting. They are the bases for establishing accounting principles and the necessary conditions for conducting accounting practices.

✧Accounting cycle（会计循环）：The accounting cycle refers to the circus which consists of the steps in the processing of business transactions and events during the accounting period.

✧Accounting elements（会计要素）：The accounting elements are the primary classifications of the contents of financial information of an organization, which are the basics to form the financial statements.

✧Accounting entity（会计主体）：The accounting entity assumption, also called the economic entity assumption, is an accounting guideline that allows the accountants to keep the business transactions separate from the owner’s personal transactions.

✧Accounting equation（会计等式）：The accounting equation is the basic formula that underpins double entry bookkeeping. It can be expressed as“assets=liabilities+owners’ equity”, or extended as “assets=liabilities+owners’ equity+revenues-expenses”.

✧Accounting identification（会计确认）：Accounting identification refers to the procedures of analyzing and identifying the economic transactions and events in order to locate them into the accounting elements.

✧Accounting measurement（会计计量）：Accounting measurement refers to marking the value when the economic transactions and events are identified.

✧Accounting objectives（会计目标）：The accounting objectives are the goals of accounting reporting which is to help financial information users make their decisions, and evaluate the performance of stewardship.

✧Accounting period（会计分期）：The accounting period assumption, also known as the periodicity or time period assumption, is an accounting guideline that allows the accountants to divide up the complex, ongoing activities of a business into periods of a year, quarter, month, week, etc. The precise time period covered is included in the heading of the income statement, statement of cash flows, and the statement of stockholders’ equity.

✧Accounting policies（会计政策）：The accounting policies refer to the accounting bases used by a business when preparing its financial statements.

✧Accounting principles（会计原则）：The accounting principles stand for the body of doctrine associated with accounting, serving as an explanation of current practices and as a guide in the selection of conventions and procedures.

✧Accounting recording（会计记录）：The accounting recording refers to the process of making entries in the formal journals and ledgers, backed by the vouchers, invoices, correspondence, contracts, and other sources or support for such records.

✧Accounting reports（会计报告）：The accounting reports refer to a set of documents that give state the financial position, operating result, cash flows and other financial information of an organization.

✧Accounting standards（会计准则）：The accounting standards stand for the rules of accounting practices recommended by the Accounting Standards Board.

✧Accounting system（会计制度/会计系统）：The accounting system refers to the principles, methods and procedures relating to the incurrence, classification, recording, and reporting of the transactions and events of an organization.

✧Accrual basis（权责发生制）：The accrual basis of accounting is the accounting method wherein revenues are recognized when they are earned and expenses are matched to revenues or the accounting period when they are incurred.

✧Assets（资产）：Assets are resources owned or controlled by a company and which have future economic value that can be measured and can be expressed in dollars. Examples include cash, investments, accounts receivable, inventory, supplies, land, buildings, equipment, and vehicles, etc.

✧B ooks of accounts（账簿）：The books accounts, sometimes called accounts, refer to the books in which a business records its transactions using ledgers, journals, and other accounting records.

✧Comparability（可比性）：The comparability principle is a quality of accounting information that facilitates the comparison of financial reporting of one company to that of another company.

✧Conservatism（谨慎性）：The conservatism principle states that when alternative accounting valuations are equally possible, the accountant should select the one that is least likely to overstate assets and income in the current period.

✧Expenses（费用）：Expenses are costs for selling goods or providing services, which are matched with revenues on the income statement.

✧Fair value（公允价值）：The fair value is a price paid by a buyer who knows the value of what he or she is buying, to a seller who also knows the value of what is being sold. The fair value method refers to a method of valuing the assets and liabilities of a business based on the amount for which they could be sold to independent parties at the time of valuation in an arm’s length trade.

✧Financial accounting（财务会计）：Financial accounting refers to the field of accounting that treats money as a means of classifying, measuring and recording economic performance of a business, which is to prepare the financial reports including the income statement, balance sheet, statement of cash flows, statement of stockholders’ equity.

✧Going concern（持续经营）：The going concern assumption, also called the continuity assumption, is an accounting guideline which allows the readers of financial statements to assume that the company will continue long enough to carry out its objectives and commitments. In other words, the accountants believe that the company will not liquidate in the near future. This assumption also provides some justification for accountants to follow the cost principle.

✧Historical cost（历史成本）：The historical cost is the basis for treatment of assets in financial statements where they are recorded at their historical cost, without adjustment for inflation or other price variations.

✧Liability（负债）：Liabilities refer to obligations of a company or organization, resulting from past transactions and events, including amounts received in advance for a future sale or service to be performed, and to repay them will cause benefits flow out of the company.

✧Materiality（重要性）：The materiality principle refers to the magnitude of an omission or misstatement of accounting information that, considering the circumstances, makes it likely that the judgment of a reasonable person relying on the information would have been influenced by the omission or misstatement.

✧Monetary unit（货币计量）：The monetary unit assumption refers to the accounting guideline where the currency is assumed to be constant（no change in purchasing power）over time.

✧Net realizable value（可变现净值）：The net realizable value is the price at which goods in stock could be sold in a fair market, less any costs incurred in making the sale.

✧Net income（净利润）：The net income refers to the income of an individual or organization, which is left after taking away costs, expenses, taxes and other deductions.

✧Owners’ Equity（所有者权益）：The owners’ equity, also known as the owners’ capital account, which is the residual claim of the owners after deducting the liabilities from the assets.

✧Present value（现值）：The present value is the result arrived at in a discounted cash flow calculation by multiplying a projected annual cash flow figure by a discount factor derived from a hurdle rate of interest and a time period.

✧Qualitative characteristics（会计信息质量特征）：The qualitative characteristics of accounting information refer to the characteristics that make information in financial reports as useful as possible. The accounting standards board identifies the qualities that are both useful to decision makers and make the documents understandable. Information must be both reliable and relevant；it must have predictive value, feedback value, timeliness, comparability, consistency, verifiability, neutrality, and representational faithfulness.

✧Relevance（相关性）：The relevance principle is a qualitative characteristic in accounting, which is associated with information that is timely, useful, of predictive value, and is going to make a difference to a decision maker.

✧Reliability（可靠性）：The reliability principle is a qualitative characteristic in accounting. It is achieved when information is verifiable, objective（not subjective）and you can depend on it.

✧Replacement cost（重置成本）：The replacement cost is the cost of replacing an asset, either in its present physical form or as the cost of obtaining equivalent services, which may be used to value tangible fixed assets and in some circumstances such circulating assets as stock.

✧Revenues（收入）：Revenues, also called income, are fees earned from providing services or the amounts of merchandise sold.

✧Substance over form（实质重于形式）：The substance over form principle requires the accountants, during the accounting process of identification, recording, measuring and reporting, consider the economic substance of a transaction or event rather than its legal form.

✧Timeliness（及时性）：The accounting information is timely when it is available to decision makers before it loses its ability to influence decisions.

✧Understandability（可理解性）：The accounting information should be understandable to users who have a reasonable knowledge of business and economic activities and who are willing to study the information with reasonable diligence.