Chapter 13 Current Liabilities and Contingencies
QUESTIONS FOR REVIEW OF KEY TOPICS
Question 13-1
A liability entails the present, the future, and the past. It is a present responsibility, to sacrifice assets in the future, caused by a transaction or other event that already has happened. Specifically, ―Elements of Financial Statements,‖ Statement of Financial Accounting Concepts No. 6, par. 36, describes three essential characteristics: Liabilities–
1. are probable, future sacrifices of economic benefits
2. that arise from present obligations (to transfer goods or provide services) to other entities
3. that result from past transactions or events.
Question 13-2
Liabilities traditionally are classified as either current liabilities or long-term liabilities in a classified balance sheet. Current liabilities are those expected to be satisfied with current assets or by the creation of other current liabilities. Usually, but with exceptions, current liabilities are obligations payable within one year or within the firm's operating cycle, whichever is longer.
Question 13-3
In concept, liabilities should be reported at their present values; that is, the valuation amount is the present value of all future cash payments resulting from the debt, usually principal and/or interest payments.In this case, the amount would be determined as the present value of $100,000, discounted for three months at an appropriate rate of interest for a debt of this type. This is proper because of the time value of money.
In practice, liabilities ordinarily are reported at their maturity amounts if payable within one year because the relatively short time period makes the interest or time value component immaterial. [FASB ASC 835-30-15-3: Interest – Imputation of Interest – Scope and Scope Exceptions (previously ―Interest on Receivables and Payables,‖ Accounting Principles Board Opinion No 21, (New York, AICPA, August 1971, Par. 3))] specifically exempts from present value valuation all liabilities arising in connection with suppliers in the normal course of business and due within a year.
Answers to Questions (continued)
Question 13-4
Lines of credit permit a company to borrow cash from a bank up to a prearranged limit at a predetermined, usually floating, rate of interest. The interest rate often is based on current rates of the prime London interbank borrowing, certificates of deposit, bankers’ acceptance, or other standard rates. Lines of credit usually must be available to support the issuance of commercial paper.
Lines of credit can be noncommitted or committed. A noncommitted line of credit allows the company to borrow without having to follow formal loan procedures and paperwork at the time of the loan and is less formal, usually without a commitment fee. Sometimes a compensating balance is required to be on deposit with the bank as compensation for the service. A committed line of credit is more formal. It usually requires a commitment fee in the neighborhood of 1/4 of one percent of the unused balance during the availability period. Sometimes compensating balances also are required. Question 13-5
When interest is ―discounted‖ from the face amount of a note at the time it is written, it usually is referred to as a ―noninterest-bearing‖ note. They do, of course entail interest, but the interest is deducted (or discounted) from the face amount to determine the cash proceeds made available to the borrower at the outset and included in the amount paid at maturity. In fact, the effective interest rate is higher than the stated discount rate because the discount rate is applied to the face value, but the cash borrowed is less than the face value.
Question 13-6
Commercial paper represents loans from other corporations. It refers to unsecured notes sold in minimum denominations of $25,000 with maturities ranging from 30 to 270 days. The firm would be required to file a registration statement with the SEC if the maturity is beyond 270 days. The name ―commercial paper‖ implies that a paper certificate is issued to th e lender to represent the obligation. But, increasingly, no paper is created because the entire transaction is computerized. Recording the issuance and payment of commercial paper is the same as for notes payable.
The interest rate usually is lower than in a bank loan because commercial paper (a) typically is issued by large, sound companies (b) directly to the lender, and (c) normally is backed by a line of credit with a bank.
Question 13-7
This is an example of an accrued expense– an expense incurred during the current period, but not yet paid. The expense and related liability should be recorded as follows:
Salaries expense 5,000
Salaries payable 5,000
This achieves a proper matching of this expense with the revenues it helps generate, and recognizes that a liability has been created by the employee earning wages for which she has not yet been paid.
Question 13-8
An employer should accrue an expense and the related liability for employees' compensation for future absences, like vacation pay, if the obligation meets each of four conditions:(1) the obligation is attributable to employees' services already performed, (2) the paid absence can be taken in a later year –the benefit vests (will be compensated even if employment is terminated) or the benefit can be accumulated over time, (3) the payment is probable, and (4) the amount can be reasonably estimated.
Customary practice should be considered when deciding whether an obligation exists. For instance, whether the rights to paid absences have been earned by services already rendered sometimes depends on customary policy for the absence in question. An example is whether compensation for upcoming sabbatical leave should be accrued. Is it granted only to perform research beneficial to the employer? Or, is it customary that sabbatical leave is intended to provide unrestrained compensation for past service?
Similar concerns also influence whether unused rights to the paid absences can be carried forward or expire. Although holiday time, military leave, maternity leave, and jury time typically do not accumulate if unused, if it is customary practice that one can be carried forward, a liability is accrued if it’s probable employees will be compensated in a future year. Similarly, sick pay is specifically excluded from mandatory accrual, according to GAAP regarding compensated absences, because future absence depends on future illness, which usually is not a certainty. But, if company policy or custom is that em ployees are paid ―sick pay‖ even when their absence is not due to illness, a liability for unused sick pay should be recorded.
Question 13-9
When a company collects cash from a customer as a refundable deposit or as an advance payment for products or services, a liability is created obligating the firm to return the deposit or to supply the products or services. When the amount is to be returned to the customer in cash, it is a refundable deposit. When the amount will be applied to the purchase price when goods are delivered or services provided (gift certificates, magazine subscriptions, layaway deposits, special order deposits, and airline tickets), it is a customer advance.
Question 13-10
Gift cards are a particular form of advance collection of revenues. When the payment is received, the seller debits cash and credits an unearned revenue liability. Later, unearned revenue is reduced and revenue recognized either when the customer redeems the gift card or when the probability of redemption is viewed as remote, based on an expiration date or the company’s experience. Question 13-11
Examples of amounts collected for third parties that represent liabilities until remitted are sales taxes, and payroll-related deductions such as federal and state income taxes, social security taxes, employee insurance, employee contributions to retirement plans, and union dues.
Question 13-12
1. Current liability— The requirement to classify currently maturing debt as a current liability
includes debt that is callable, or due on demand, by the creditor in the upcoming year even if the debt is not expected to be called.
2 Long-term liability— The current liability classification includes (a) situations in which the
creditor has the right to demand payment because an existing violation of a provision of the debt agreement makes it callable and (b) situations in which debt is not yet callable, but will be callable within the year if an existing violation is not corrected within a specified grace period – unless it's probable the violation will be corrected within the grace period. In this case, the existing violation is expected to be corrected within 6 months.
Question 13-13
Short-term obligations can be reported as noncurrent liabilities if the company (a) intends to refinance on a long-term basis and (b) demonstrates the ability to do so by a refinancing agreement or by actual financing.
Question 13-14
Under U.S. GAAP, ability to finance must be demonstrated by securing financing prior to the date the balance sheet is issued; under IFRS, ability to finance must be demonstrated by securing financing prior to the balance sheet date (which typically is a couple of months earlier than the date of issuance).
Question 13-15
A loss contingency is an existing situation, or set of circumstances involving potential loss that will be resolved when some future event occurs or doesn’t occur. Examples: (1) a possible repair to a product under warranty, (2) a possible uncollectible receivable, (3) being the defendant in a lawsuit. Question 13-16
The likelihood that the future event(s) will confirm the incurrence of the liability must be categorized as:
P ROBABLE– the confirming event is likely to occur.
R EASONABLY P OSSIBLE– the chance the confirming event will occur is more than remote but less than likely.
R EMOTE– the chance the confirming event will occur is slight.
Question 13-17
A liability should be accrued if it is both probable that the confirming event will occur and the amount can be at least reasonably estimated.
Question 13-18
Under U.S. GAAP, the term ―contingent liability‖ is used to refer generally to contingent losses, regardless of probability. Under IFRS, a contingent liability refers only to those contingencies that are not recognized in the financial statements; the term ―provision‖ is used to refer to those that are accrued as liabilities because they are probable and reasonably estimable.
Question 13-19
If one or both of the accrual criteria is not met, but there is at least a reasonable possibility that an obligation exists (the loss will occur), a disclosure note should describe the contingency. The note also should provide an estimate of the possible loss or range of loss, if possible. If an estimate cannot be made, a statement to that effect should be included.
Question 13-20
1. Manufacturers’ product warranties —these inevitably involve expenditures, and reasonably
accurate estimates of the total liability for a period usually are possible, based on prior experience.
2. Cash rebates and other premium offers — these inevitably involve expenditures, and reasonably
accurate estimates of the total liability for a period usually are possible, based on prior experience. Question 13-21
The contingent liability for warranties and guarantees usually is accrued. The estimated warranty (guarantee) liability is credited and warranty (guarantee) expense is debited in the reporting period in which the product under warranty is sold. An extended warranty provides warranty protection beyond the manufacturer’s original warranty. A manufacturer’s warranty is offered as an integral part of the product package. By contrast, an extended warranty is priced and sold separately from the warranted product. It essentially constitutes a separate sales transaction and is recorded as such.
Question 13-22
Several weeks usually pass between the end of a company’s fiscal year and the date the financial statements for that year actually are issued. Any enlightening events occurring during this period should be used to assess the nature of a loss contingency existing at the report date. Since a liability should be accrued if it is both probable that the confirming event will occur and the amount can be at least reasonably estimated, the contingency should be accrued.
Question 13-23
When a contingency comes into existence only after the year-end, a liability cannot be accrued because none existed at the end of the year. Yet, if the loss is probable and can be reasonably estimated, the contingency should be described in a disclosure note. The note should include the effect of the loss on key accounting numbers affected. Furthermore, even events other than contingencies that occur after the year-end but before the financial statements are issued must be disclosed in a ―subsequent events‖ disclosure note if they have a material effect on the company’s financial position. (i.e., an issuance of debt or equity securities, a business combination, or discontinued operations). Question 13-24
In U.S. GAAP, the low end of the range is accrued as a liability, and the rest of the range is disclosed. In IFRS, the mid-point of the range is accrued.
Question 13-25
When an assessment is probable, reporting the possible obligation would be warranted if an unfavorable settlement is at least reasonably possible. This means an estimated loss and contingent liability would be accrued if (a) an unfavorable outcome is probable and (b) the amount can be reasonably estimated. Otherwise footnote disclosure would be appropriate. So, when the assessment is unasserted as yet, a two-step process is involved in deciding how it should be reported:
1. Is the assessment probable? If it is not, no disclosure is warranted.
2. If the assessment is probable, evaluate (a) the likelihood of an unfavorable outcome and (b)
whether the dollar amount can be estimated to determine whether it should be accrued, disclosed only, or neither.
Question 13-26
You should not accrue your gain. A gain contingency should not be accrued. This conservative treatment is consistent with the general inclination of accounting practice to anticipate losses, but to recognize gains only at their realization. Though gain contingencies are not recorded in the accounts, they should be disclosed in notes to the financial statements. Attention should be paid that the disclosure note not give "misleading implications as to the likelihood of realization."
BRIEF EXERCISES
Brief Exercise 13-1
Cash ............................................................... 60,000,000
Notes payable .............................................. 60,000,000
Interest expense ($60,000,000 x 12% x 3/12) ...... 1,800,000
Interest payable .......................................... 1,800,000
Brief Exercise 13-2
Cash (difference) .......................................................... 54,600,000
Discount on notes payable ($60,000,000 x 12% x 9/12) . 5,400,000
Notes payable (face amount) .................................... 60,000,000 Interest expense ($60,000,000 x 12% x 3/12) ................. 1,800,000
Discount on notes payable ................................... 1,800,000
Brief Exercise 13-3
a.
December 31
$100,000 x 12% x 6/12 = $6,000
b.
September 30
$100,000 x 12% x 3/12 = $3,000
Brief Exercise 13-4
Cash (difference) .......................................................... 11,190,000
Discount on notes payable ($12,000,000 x 9% x 9/12) ... 810,000
Notes payable (face amount) .................................... 12,000,000 Interest expense ........................................................ 810,000
Discount on notes payable........................................... 810,000 Notes payable (face amount) ........................................ 12,000,000
Cash ....................................................................... 12,000,000
Brief Exercise 13-5
Cash (difference) .......................................................... 9,550,000
Discount on notes payable ($10,000,000 x 6% x 9/12) ... 450,000
Notes payable (face amount) .................................... 10,000,000
Effective interest rate:
Discount ($10,000,000 x 6% x 9/12)$ 450,000
Cash proceeds ÷ $9,550,000
Interest rate for 9 months 4.712%
x 12/9
___________
Annual effective rate 6.3%
Brief Exercise 13-6
December 12
Cash ....................................................................... 24,000
Liability – customer advance ........................... 24,000 January 16
Cash ....................................................................... 216,000
Liability – customer advance ............................... 24,000
Sales revenue ..................................................... 240,000
Brief Exercise 13-7
In 2011 Lizzie would recognize $11,500 of revenue ($4,000 + $3,000 + $2,500 + $2,000). In 2012 Lizzie would recognize the remainder of $6,500 ($18,000 -
$11,500), either because gift cards were redeemed (the $1,000 in January and the $500 in February) or because they are viewed as expired.
Brief Exercise 13-8
Accounts receivable .............................................. 645,000
Sales revenue.................................................... 600,000
Sales taxes payable ([6% + 1.5%] x $600,000) ...... 45,000
Brief Exercise 13-9
Under U.S. GAAP, the debt would be classified as long-term for both completion dates, as what is key is that the refinancing be completed before the financial
statements are issued.
Brief Exercise 13-10
Under IFRS, the debt would be classified as long-term if the refinancing was
completed by December 15, 2011, but not if completed by January 15, 2012,
because for IFRS what is key is that the refinancing be completed by the balance sheet date.
Brief Exercise 13-11
This is a loss contingency and the estimated warranty liability is credited and warranty expense is debited in the period in which the products under warranty are sold. Right will report a liability of $130,000:
Warranty Liability
_________________________________________
150,000Warranty expense (1% x $15,000,000) Actual expenditures20,000
130,000 Balance
Brief Exercise 13-12
This is a loss contingency and should be accrued because it is both probable that the confirming event will occur and the amount can be at least reasonably
estimated. Goo Goo should report a $5.5 million loss in its income statement and
a $5.5 million liability in its balance sheet
Loss – product recall ....................................................... 5,500,000
Liability – product recall .......................................... 5,500,000
A disclosure note also is appropriate.
Brief Exercise 13-13
This is a gain contingency. Gain contingencies are not accrued even if the gain is probable and reasonably estimable. The gain should be recognized only when realized. A carefully worded disclosure note is appropriate.
Brief Exercise 13-14
This is a loss contingency. A liability should be accrued if it is both probable that the confirming event will occur and the amount can be at least reasonably estimated. If one or both of these criteria is not met (as in this case), but there is at least a reasonable possibility that the loss will occur, a disclosure note should describe the contingency. That’s what Bell should do here.
Brief Exercise 13-15
Only the third situation’s costs should be accrued. A liability should be accrued for
a loss contingency if it is both probable that the confirming event will occur and
the amount can be at least reasonably estimated. If one or both of these criteria is not met, but there is at least a reasonable possibility that the loss will occur, a disclosure note should describe the contingency. Both criteria are met only for the warranty costs.
Brief Exercise 13-16
Under U.S. GAAP, no liability would be recognized, because a 51% chance is less than the level of probability typically associated with ―probable‖ in the U.S. A liability would be acc rued under IFRS, as 51% is clearly ―more likely than not.‖ If
a liability were accrued under U.S. GAAP, it would be for $10 million, the low end
of the range, but under IFRS it would be for $15 million, the midpoint of the range. Brief Exercise 13-17
No disclosure is required because an EPA claim is not yet asserted, and an assessment is not probable. Even if an unfavorable outcome is thought to be probable in the event of an assessment and the amount is estimable, disclosure is not required unless an unasserted claim is probable.
EXERCISES
Exercise 13-1
Requirement 1
Cash ............................................................... 16,000,000
Notes payable .............................................. 16,000,000 Requirement 2
Interest expense ($16,000,000 x 12% x 2/12) ...... 320,000
Interest payable ........................................... 320,000 Requirement 3
Interest expense ($16,000,000 x 12% x 7/12) ...... 1,120,000
Interest payable (from adjusting entry) ............... 320,000
Notes payable (face amount) ............................. 16,000,000
Cash (total) ................................................... 17,440,000 Exercise 13-2
1. Interest rate Fiscal year-end
12% December 31
$400 million x 12% x 6/12 = $24 million
2. Interest rate Fiscal year-end
10% September 30
$400 million x 10% x 3/12 = $10 million
3. Interest rate Fiscal year-end
9% October 31
$400 million x 9% x 4/12 = $12 million
4. Interest rate Fiscal year-end
6% January 31
$400 million x 6% x 7/12 = $14 million
Exercise 13-3
2011
Jan. 13No entry is made for a line of credit until a loan actually is made. It would be described in a disclosure note.
Feb. 1
Cash .......................................................................... 5,000,000
Notes payable ........................................................ 5,000,000 May 1
Interest expense ($5,000,000 x 10% x 3/12)................... 125,000
Notes payable (face amount) ........................................ 5,000,000
Cash ($5,000,000 + 125,000)...................................... 5,125,000 Dec. 1
Cash (difference) .......................................................... 9,325,000
Discount on notes payable ($10,000,000 x 9% x 9/12) ... 675,000
Notes payable (face amount) .................................... 10,000,000 Dec. 31
The effective interest rate is 9.6515% ($675,000 ÷ $9,325,000) x 12/9. So, properly, interest should be recorded at that rate times the outstanding balance times
one-twelfth of a year:
Interest expense ($9,325,000 x 9.6515% x 1/12)............. 75,000
Discount on notes payable ................................... 75,000 However the same results are achieved if interest is recorded at the discount
rate times the maturity amount times one-twelfth of a year:
Interest expense ($10,000,000 x 9% x 1/12)................... 75,000
Discount on notes payable ................................... 75,000
Exercise 13-3 (concluded)
2012
Sept. 1
Interest expense ($10,000,000 x 9% x 8/12)* ................. 600,000
Discount on notes payable ................................... 600,000 Notes payable (balance)............................................... 10,000,000
Cash (maturity amount) ............................................. 10,000,000 * or, ($9,325,000 x 9.6515% x 8/12) = $600,000
Exercise 13-4
Wages expense (increases wages expense to $410,000) ........... 6,000
Liability – compensated future absences.................... 6,000*
* ($404,000 - 4,000] = $400,000 non-vacation wages
x 1/40 = $10,000 vacation pay earned
(4,000) vacation pay taken
= $ 6,000 vacation pay carried over
Exercise 13-5
Requirement 1
Wages expense (700 x $900) .............................................. 630,000
Liability – compensated future absences............ 630,000 Requirement 2
Liability – compensated future absences................. 630,000
Wages expense ($31 million + [5% x $630,000]) .............. 31,031,500
Cash (or wages payable) (total) ............................ 31,661,500
Exercise 13-6
Requirement 1
Cash ............................................................................. 5,200
Liability – gift certificates...................................... 5,200
Cash ($2,100 + 84 - 1,300) (884)
Liability – gift certificates ......................................... 1,300
Sales revenue ........................................................... 2,100
Sales taxes payable (4% x $2,100) (84)
Requirement 2
Gift certificates sold$5,200
Gift certificates redeemed(1,300)
Liability to be reported at December 31 $3,900 Requirement 3
The sales tax liability is a current liability because it is payable in January.
The liability for gift certificates is part current and part noncurrent:
Gift certificates sold$5,200
x 80% Estimated current liability$4,160
Gift certificates redeemed (1,300)
Current liability at December 31 $2,860
Noncurrent liability at December 31 ($5,200 x 20%) 1,040
Total $3,900
Exercise 13-7
Requirement 1
Deposits Collected
Cash .................................................................. 850,000
Liability – refundable deposits ................... 850,000
Containers Returned
Liability – refundable deposits ....................... 790,000
Cash .............................................................. 790,000
Deposits Forfeited
Liability – refundable deposits ....................... 35,000
Revenue – sale of containers ....................... 35,000
Cost of goods sold ........................................... 35,000
Inventory of containers ............................... 35,000 Requirement 2
Balance on January 1$530,000
Deposits received850,000
Deposits returned (790,000)
Deposits forfeited (35,000)
Balance on December 31 $555,000
Exercise 13-8
Requirement 1
Cash ....................................................................... 7,500
Liability – customer advance ........................... 7,500 Requirement 2
Cash ....................................................................... 25,500
Liability – refundable deposits......................... 25,500 Requirement 3
Accounts receivable .............................................. 856,000
Sales revenue.................................................... 800,000
Sales taxes payable ([5% + 2%] x $800,000)......... 56,000
Exercise 13-9
Requirement 1
The entire $10,000 sold in January will be recognized as revenue during
2011. $6,000 because of gift card redemption; $4,000 because of gift card
breakage.
Requirement 2
January Gift Card Sales
Cash .................................................................. 10,000
Liability – unearned gift card revenue ......... 10,000 Redemption of January Gift Cards
Liability – unearned gift card revenue............ 6,000
Revenue – gift cards ..................................... 6,000 Expiration of January Gift Cards
Liability – unearned gift card revenue............ 4,000
Revenue – gift cards ..................................... 4,000 Requirement 3
Of the $16,000 sold in March, $10,000 will be recognized as revenue:
$4,000 because of gift card redemption; $6,000 of the remaining $12,000
because of gift card expiration. To calculate the amount of gift card
breakage, consider that, if March sales all occurred on the first day of the
month, all would have been outstanding for 10 months during 2011 and
therefore all $12,000 of non-redeemed gift cards would be viewed as
expired. On the other hand, if March sales all occurred on the last day of
the month, none would have been outstanding for 10 months during 2011
and therefore none of the $12,000 of non-redeemed gift cards would be
viewed as expired. Assuming that sales of gift cards occur on average on
March 15 gets us to the average of ($12,000 + $0) / 2 = $6,000 from gift
card expiration.
Requirement 4
The only liability at 12/31/2011 would be the $6,000 of unexpired March gift
cards (see answer to requirement 3).
Exercise 13-10
Normally, short-term debt (payable within a year) is classified as current liabilities. However, when such debt is to be refinanced on a long-term basis, it may be included with long-term liabilities. The narrative indicates that Sprint has both (1) the intent and (2) the ability ("existing long-term credit facilities") to refinance on a long-term basis. Thus, Sprint reported the debt as long-term liabilities.
Exercise 13-11
Requirement 1
Normally, IFRS requires that short-term debt (payable within a year) be classified as current liabilities. However, when such debt is to be refinanced on a long-term basis, it may be included with long-term liabilities. The narrative indicates that Sprint has both (1) the intent and (2) the ability ("existing long-term credit facilities") to refinance on a long-term basis. Thus, Sprint reported the debt as long-term liabilities. Requirement 2
IFRS requires that the refinancing capability be in place as of the balance sheet date. Therefore, given that the refinancing was not arranged until after year end. IFRS would require that the debt be classified as a current liability.
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茶花 common camellia 千日红 common globe-amaranth 非洲堇 African violet 栀子花 cape jasmine 木槿 rose of Sharon 风信子 hyacinth 百子莲 African lily 牵牛花 morning glory 君子兰 kefir lily 荷包花 lady's pocketbook 含笑花 banana shrub 非洲菊 African daisy 含羞草 sensitive plant 茉莉 Arabian jasmine 猪笼草 pitcher plant 凌霄花 creeper 树兰 orchid tree 康乃馨coronation 鸡冠花 cockscomb 荷花lotus 鸢萝 cypress vine 菩提 botree
财会常见名词英汉对照表 （1）会计与会计理论 会计accounting 决策人Decision Maker 投资人Investor 股东Shareholder 债权人Creditor 财务会计Financial Accounting 管理会计Management Accounting 成本会计Cost Accounting 私业会计Private Accounting 公众会计Public Accounting 注册会计师CPA Certified Public Accountant 国际会计准则委员会IASC 美国注册会计师协会AICPA 财务会计准则委员会FASB 管理会计协会IMA 美国会计学会AAA 税务稽核署IRS 独资企业Proprietorship 合伙人企业Partnership 公司Corporation
会计目标Accounting Objectives 会计假设Accounting Assumptions 会计要素Accounting Elements 会计原则Accounting Principles 会计实务过程Accounting Procedures 财务报表Financial Statements 财务分析Financial Analysis 会计主体假设Separate-entity Assumption 货币计量假设Unit-of-measure Assumption 持续经营假设Continuity(Going-concern) Assumption 会计分期假设Time-period Assumption 资产Asset 负债Liability 业主权益Owner's Equity 收入Revenue 费用Expense 收益Income 亏损Loss 历史成本原则Cost Principle 收入实现原则Revenue Principle 配比原则Matching Principle 全面披露原则Full-disclosure (Reporting) Principle
会计方面专业术语的xx acceptance承兑 account账户 accountant会计员 accounting会计 accounting system会计制度 accounts payable应付账款 accounts receivable应收账款 accumulated profits累积利益 adjusting entry调整记录 adjustment调整 administration expense管理费用 advances预付 advertising expense广告费 agency代理 agent代理人 agreementxx allotments分配数 allowance津贴 amalgamation合并 amortization摊销
amortized cost应摊成本 annuities年金 applied cost已分配成本 applied expense已分配费用 applied manufacturing expense己分配制造费用apportioned charge摊派费用 appreciation涨价 article of association公司章程 assessment课税 assets资产 attorney fee律师费 audit审计 auditor审计员 average平均数 average cost平均成本 bad debt坏账 balance余额 balance sheet资产负债表 bank account银行账户 bank balance银行结存 bank charge银行手续费
bank deposit银行存款 bank discount银行贴现bank draft银行汇票 bank loan银行借款 bank overdraft银行透支bankers acceptance银行承兑bankruptcy破产 bearer持票人 beneficiary受益人 bequest遗产 bill票据 bill of exchange汇票 bill of lading提单 bills discounted贴现票据bills payable应付票据 bills receivable应收票据board of directors董事会bonds债券 bonus红利 book value账面价值bookkeeper簿记员
植物花卉中英文对照、花卉英文名大全 金橘－－－－－－－－－－－－－－kumquat 米仔兰(米兰）－－－－－－－－－ milan tree 变叶木－－－－－－－－－－－－－croton 一品红－－－－－－－－－－－－－poinsettia 扶桑－－－－－－－－－－－－－－Chinese hibiscus 吊灯花－－－－－－－－－－－－－fringed hibiscus 马拉巴栗（发财树)－－－－－－－ Guiana chestnut 山茶－－－－－－－－－－－－－－camellia 云南山茶－－－－－－－－－－－－Yunnan camellia 金花茶－－－－－－－－－－－－－golden camellia 瑞香－－－－－－－－－－－－－－daphne 结香－－－－－－－－－－－－－－paper bush 倒挂金钟－－－－－－－－－－－－fuchsia 八角金盘－－－－－－－－－－－－Japan fatsia 常春藤－－－－－－－－－－－－－ivy 鹅掌柴－－－－－－－－－－－－－umbrella tree 杜鹃花－－－－－－－－－－－－－rhododendron 茉莉花－－－－－－－－－－－－－jasmine 桂花－－－－－－－－－－－－－－sweet osmanthus 夹竹桃－－－－－－－－－－－－－sweet-scented oleander 黄花夹竹桃－－－－－－－－－－－lucky-nut-thevetia 鸡蛋花－－－－－－－－－－－－－frangipani 龙吐珠－－－－－－－－－－－－－bleeding-heart glorybower 夜香树（木本夜来香）－－－－－－night jasmine 鸳鸯茉莉－－－－－－－－－－－－broadleaf raintree 栀子花－－－－－－－－－－－－－cape jasmine 蝴蝶兰－－－－－－－－－－－－－moth orchid 卡特兰－－－－－－－－－－－－－cattleya 石斛－－－－－－－－－－－－－－dendrobium 兜兰－－－－－－－－－－－－－－lady slipper 兰花－－－－－－－－－－－－－－orchid 春兰－－－－－－－－－－－－－－goering cymbidium
会计专业专业术语中英文对照 一、会计与会计理论 会计 accounting 决策人 Decision Maker 投资人 Investor 股东 Shareholder 债权人 Creditor 财务会计 Financial Accounting 管理会计 Management Accounting 成本会计 Cost Accounting 私业会计 Private Accounting 公众会计 Public Accounting 注册会计师 CPA Certified Public Accountant 国际会计准则委员会 IASC 美国注册会计师协会 AICPA 财务会计准则委员会 FASB 管理会计协会 IMA 美国会计学会 AAA 税务稽核署 IRS 独资企业 Proprietorship 合伙人企业 Partnership 公司 Corporation
会计目标 Accounting Objectives 会计假设 Accounting Assumptions 会计要素 Accounting Elements 会计原则 Accounting Principles 会计实务过程 Accounting Procedures 财务报表 Financial Statements 财务分析Financial Analysis 会计主体假设 Separate-entity Assumption 货币计量假设 Unit-of-measure Assumption 持续经营假设 Continuity(Going-concern) Assumption 会计分期假设 Time-period Assumption 资产 Asset 负债 Liability 业主权益 Owner's Equity 收入 Revenue 费用 Expense 收益 Income 亏损 Loss 历史成本原则 Cost Principle 收入实现原则 Revenue Principle 配比原则 Matching Principle
iris 蝴蝶花hon eysuckle 金银花 chrysanthemum 菊花 carnation 康乃馨 orchid 兰花 canna 美人蕉 jasmine 茉莉花 daffodil 水仙花 peony 牡丹 begonia 秋海棠 cactus 仙人掌 christmas flower 圣诞花/一品红 poppy 罂粟 tulip 郁金香 chi nese rose 月 季 violet 紫罗兰 peach flower 桃花 aloe 芦荟 mimosa 含羞草 dandelion 蒲公英 plum bolssom 梅花中国水仙new year lily
石榴pomegranate 月桂victor's laurel 报春花polyanthus 木棉cotton tree 紫丁香lilac 吊钟lady's eardrops 紫荆Chinese redbud 百合lily 紫罗兰wall flower 桃花peach 紫藤wisteria 杜鹃azalea 铃兰lily-of-the-valley 牡丹tree peony 银杏ginkgo 芍药peony 蝴蝶兰moth orchid 辛夷violet magnolia 蟹爪仙人掌Christmas cactus 玫瑰rose 郁金香tulip
非洲堇African violet 栀子花cape jasmine 木槿rose of Sharon 风信子hyacinth 百子莲African lily 牵牛花morning glory 君子兰kefir lily 荷包花lady's pocketbook 含笑花bana shrub 非洲菊African daisy 含羞草sensitive plant 茉莉Arabian jasmine 猪笼草pitcher plant 凌霄花creeper 树兰orchid tree 康乃馨coronation 荷花lotus 鸢萝cypress vine 菩提botree 大理花dahlia
会计方面专业术语的英文翻译 acceptance 承兑 account 账户 accountant 会计员 accounting 会计 accounting system 会计制度 accounts payable 应付账款 accounts receivable 应收账款 accumulated profits 累积利益 adjusting entry 调整记录 adjustment 调整 administration expense 管理费用 advances 预付 advertising expense 广告费 agency 代理 agent 代理人 agreement 契约 allotments 分配数 allowance 津贴 amalgamation 合并 amortization 摊销 amortized cost 应摊成本 annuities 年金 applied cost 已分配成本 applied expense 已分配费用 applied manufacturing expense 己分配制造费用apportioned charge 摊派费用 appreciation 涨价 article of association 公司章程 assessment 课税 assets 资产 attorney fee 律师费 audit 审计 auditor 审计员 average 平均数 average cost 平均成本 bad debt 坏账 balance 余额
balance sheet 资产负债表 bank account 银行账户 bank balance 银行结存 bank charge 银行手续费 bank deposit 银行存款 bank discount 银行贴现 bank draft 银行汇票 bank loan 银行借款 bank overdraft 银行透支 bankers acceptance 银行承兑 bankruptcy 破产 bearer 持票人 beneficiary 受益人 bequest 遗产 bill 票据 bill of exchange 汇票 bill of lading 提单 bills discounted 贴现票据 bills payable 应付票据 bills receivable 应收票据 board of directors 董事会 bonds 债券 bonus 红利 book value 账面价值 bookkeeper 簿记员 bookkeeping 簿记 branch office general ledger 支店往来账户broker 经纪人 brought down 接前 brought forward 接上页 budget 预算 by-product 副产品 by-product sales 副产品销售 capital 股本 capital income 资本收益 capital outlay 资本支出 capital stock 股本 capital stock certificate 股票 carried down 移后 carried forward 移下页 cash 现金 cash account 现金账户 cash in bank 存银行现金 cash on delivery 交货收款
常见花的英文单词 中国水仙new year lily 石榴pomegranate 月桂victor's laurel 报春花polyanthus 木棉cotton tree 紫丁香lilac 吊钟lady's eardrops 紫荆Chinese redbud 百合lily 紫罗兰wall flower 桃花peach 紫藤wisteria 杜鹃azalea 铃兰lily-of-the-valley 牡丹tree peony 银杏ginkgo 芍药peony 蝴蝶兰moth orchid 辛夷violet magnolia 蟹爪仙人掌Christmas cactus 玫瑰rose 郁金香tulip 茶花common camellia 千日红common globe-amaranth 非洲堇African violet 栀子花cape jasmine 木槿rose of Sharon 风信子hyacinth 百子莲African lily 牵牛花morning glory 君子兰kefir lily 荷包花lady's pocketbook 含笑花banana shrub 非洲菊African daisy 含羞草sensitive plant 茉莉Arabian jasmine 猪笼草pitcher plant 凌霄花creeper 树兰orchid tree 康乃馨coronation 鸡冠花cockscomb
荷花lotus 鸢萝cypress vine 菩提botree 大理花dahlia 圣诞百合Christmas bell 一串红scarlet sage 紫薇crape myrtle 勿忘我forget-me-not 睡莲water lily 文心兰dancing lady 吊兰spider plant 白头翁pappy anemone 向日葵sunflower 矢车菊cornflower 竹bamboo 金鱼草snapdragon 夹竹桃oleander 金盏花pot marigold 月季花china rose 金银花honeysuckle 长春花old maid 金莲花garden nasturtium 秋海棠begonia 非洲凤仙African touch-me-not 美人蕉canna 曼陀罗angel's trumpet 晚香玉tuberose 梅花flowering apricot 野姜花ginger lily 圣诞红common poinsettia 菊花chrysanthemum 虞美人Iceland poppy 昙花epiphyllum 鸢尾iris 龙胆royal blue 腊梅winter sweet 麒麟花crown of thorns 木芙蓉cotton rose 九重葛paper flower 火鹤花flamingo flower 三色堇tricolor viola 嘉德丽亚兰cattleya
Accounting system 会计系统 American Accounting Association 美国会计协会American Institute of CPAs 美国注册会计师协会 Audit 审计 Balance sheet 资产负债表 Bookkeepking 簿记 Cash flow prospects 现金流量预测 Certificate in Internal Auditing 内部审计证书 Certificate in Management Accounting 管理会计证书Certificate Public Accountant注册会计师 Cost accounting 成本会计 External users 外部使用者 Financial accounting 财务会计 Financial Accounting Standards Board 财务会计准则委员会Financial forecast 财务预测 Generally accepted accounting principles 公认会计原则General-purpose information 通用目的信息Government Accounting Office 政府会计办公室 Income statement 损益表 Institute of Internal Auditors 内部审计师协会 Institute of Management Accountants 管理会计师协会Integrity 整合性 Internal auditing 内部审计 Internal control structure 内部控制结构 Internal Revenue Service 国内收入署 Internal users 内部使用者 Management accounting 管理会计 Return of investment 投资回报 Return on investment 投资报酬 Securities and Exchange Commission 证券交易委员会Statement of cash flow 现金流量表 Statement of financial position 财务状况表 Tax accounting 税务会计 Accounting equation 会计等式 Articulation 勾稽关系 Assets 资产 Business entity 企业个体 Capital stock 股本 Corporation 公司 Cost principle 成本原则 Creditor 债权人 Deflation 通货紧缩 Disclosure 批露 Expenses 费用
亚洲常见花卉英文译名Abutilon pictum / Thomsonii风铃花 Abutilon Hybriden金铃花 Acacia dealbata银栲皮树 Acaena / New Zealand burr无瓣蔷薇(纽西兰球果属植物) Acanthus叶蓟属植物 Acer palmatum掌叶槭 Achillea / Yarrow丽纹锯草(蓍草属植物) Achimenes / Cupid's bower / hot water plant长筒花Actinidia狝猴桃<--攀缘植物 Adenium obesum沙漠玫瑰(天宝花) Adiantum capilus-veneris / True maidenhair fern铁线蕨Aegopodium podagraia 'Variegata'斑叶羊角芹 African daisy非洲菊 Agapanthus / African lily百子莲 Agastache藿香 Agave龙舌兰属植物 Ageratum houstonianum紫花霍香蓟 Agrostemma githago / Corn cockle麦仙翁 Ajuga reptans匍筋骨草 Akebia木通(别名:巧克力藤蔓) <--攀缘植物
Alcea rosea / Hollyhock蜀葵 Alchemilla / Lady's mantle斗篷草 Allium葱属 Aloe芦荟属植物 Alyssum香荠属植物 Amaranthus苋属植物 Ampelopsis山葡萄<--攀缘植物 Ampelopsis brevipedunculata蛇白蔹 Anchusa capensis / Alkanet非洲勿忘草Androsace carnea / Rock jasmine铜钱花Anethu, graveolens / Dill莳萝 Annual phlox福禄考 Antennaria dioica山荻 Anthemis西洋甘菊 Anthemis punctata subsp cupaniana春黄菊Antirrhinum majus / Snapdragon金鱼草 Arabis / Rock cress南芥菜(岩水芹) Aralia elata黃斑高? Arbutus野草莓樹 Arctotis Fastuosa / Monarch of the veldt南非雛菊Arenaria balearica蚤綴
A (1)ABC 作业基础成本计算 A (2)absorbed overhead 已汲取制造费用 A (3)absorption costing 汲取成本计算 A (4)account 帐户,报表 A (5)accounting postulate 会计假设 A (6)accounting series release 会计公告文件 A (7)accounting valuation 会计计价 A (8)account sale 承销清单 A (9)accountability concept 经营责任概念 A (10)accountancy 会计职业 A (11)accountant 会计师 A (12)accounting 会计 A (13)agency cost 代理成本 A (14)accounting bases 会计基础 A (15)accounting manual 会计手册 A (16)accounting period 会计期间 A (17)accounting policies 会计方针 A (18)accounting rate of return 会计酬劳率 A (19)accounting reference date 会计参照日 A (20)accounting reference period 会计参照期间A (21)accrual concept 应计概念 A (22)accrual expenses 应计费用
A (23)acid test ration 速动比率(酸性测试比率) A (24)acquisition 购置 A (25)acquisition accounting 收购会计 A (26)activity based accounting 作业基础成本计算A (27)adjusting events 调整事项 A (28)administrative expenses 行政治理费 A (29)advice note 发货通知 A (30)amortization 摊销 A (31)analytical review 分析性检查 A (32)annual equivalent cost 年度等量成本法 A (33)annual report and accounts 年度报告和报表A (34)appraisal cost 检验成本 A (35)appropriation account 盈余分配帐户 A (36)articles of association 公司章程细则 A (37)assets 资产 A (38)assets cover 资产保障 A (39)asset value per share 每股资产价值 A (40)associated company 联营公司 A (41)attainable standard 可达标准 A (42)attributable profit 可归属利润 A (43)audit 审计 A (44)audit report 审计报告
AICPA财务英语中英文对照表 A account 账户 account payable 应付账款 accounting system 会计系统 Accounting Principle Board (APB) （美国）会计准则委员会 accrual basis 权责发生制（应计制） accumulated depreciation 累计折旧 account FORMat 账户格式 accrue 应计 accounting cycle 会计循环 accounts receivable 应收账款 accounts receivable turnover 应收账款周转率 accelerated depreciation 加速折旧 adjusting entries 调整分录 adjustment 调整 aging of accounts receivable 应收账款账龄分析法 allowance for bad debts 坏账准备 allowance for doubtful accounts 坏账准备 allowance for uncollectible 坏账准备 allowance method 备抵法 allowance for depreciation 折旧备抵账户 amortization 摊销 annual report 年度报告 annuity 年金 assets 资产
audit 审计 auditor’s opinion 审计意见书 auditor 审计师 audit committee 审计委员会 average collection period 平均收账期AICPA 美国注册会计师协会 APB Opinions 会计准则委员会意见书B balance 余额 bad debt recoveries 坏账收回 bad debts 坏账 bad debts expense 坏账费用 balance sheet 资产负债表 balance sheet equation 资产负债表等式basket purchase 一揽子采购 betterment 改造投资，改造工程投资bearer instrument 不记名票据 bonds 债券 book of original entry 原始分录账簿 book value 账面价值 C capital 资本 capital stock certificate 股本证明书 cash basis 收付实现制（现金收付制）cash dividends 现金股利 cash flow statement 现金流量表 carrying amount 账面价值 carrying value 账面价值 callable bonds 可赎债券，可提前兑回债券
流动资产CURRENT ASSETS： 现金Cash on hand 银行存款Cash in bank 有价证券Marketable securitiea 应收票据Notes receivable 应收帐款Accounts receivable 坏帐准备Provision for bad debts 预付帐款Advances to suppliers 其他应收款Other receivables 待摊费用Deferred and prepaid expenses 存货Inventories 存货变现损失准备Provision for loss on realization of inventory 一年内到期的长期债券投资Long-term investments maturing within one year 其他流动资产Other current assets 长期投资Long-term in vestments 一年以上的应收款项Receivables collectable after one year 固定资产：FIXED ASSETS: 固定资产原价Fixed assets-cost 累计折旧Accumulated depreciation 固定资产净值Fixed assets-net value 固定资产清理Disposal of fixed assets 在建工程Construction in progress 无形资产INTANGIBLE ASSETS: 场地使用权Land occupancy right 工业产权及专有技术Proprietary technology and patents 其他无形资产Other intangibles assets 其他资产：OTHER ASSETS 开办费Organization expenses 筹建期间汇兑损失Exchange loss during start-up peried 递延投资损失Deferred loss on investments 递延税款借项Deferred taxes debit 其他递延支出Other deferred expenses 待转销汇兑损失Unamortized cxehange loss 流动负债CURRENT LIABILITIES: 短期借款Short term loans 应付票据Notes payable 应付帐款Accounts payable 应付工资Accrued payroll 应交税金Taxes payable 应付利润Dividends payable 预收货款Advances from customers 其他应付款Other payables
一、资产类 Assets 流动资产 Current assets 货币资金 Cash and cash equivalents 1001现金 Cash 1002 银行存款 Cash in bank 1009 其他货币资金 Other cash and cash equivalents '100901 外埠存款 Other city Cash in bank '100902 银行本票 Cashier's cheque '100903 银行汇票 Bank draft '100904 信用卡 Credit card '100905 信用证保证金 L/C Guarantee deposits '100906 存出投资款 Refundable deposits 1101 短期投资 Short-term investments '110101 股票 Short-term investments - stock '110102 债券 Short-term investments - corporate bonds '110103 基金 Short-term investments - corporate funds '110110 其他 Short-term investments - other 1102 短期投资跌价准备 Short-term investments falling price reserves 应收款 Account receivable 1111 应收票据 Note receivable 银行承兑汇票 Bank acceptance 商业承兑汇票 Trade acceptance 1121 应收股利 Dividend receivable 1122 应收利息 Interest receivable 1131 应收账款 Account receivable 1133 其他应收款 Other notes receivable 1141 坏账准备 Bad debt reserves 1151 预付账款 Advance money 1161 应收补贴款 Cover deficit by state subsidies of receivable 库存资产 Inventories 1201 物资采购 Supplies purchasing 1211 原材料 Raw materials 1221 包装物 Wrappage 1231 低值易耗品 Low-value consumption goods 1232 材料成本差异 Materials cost variance 1241 自制半成品 Semi-Finished goods 1243 库存商品 Finished goods 1244 商品进销差价 Differences between purchasing and selling price 1251 委托加工物资 Work in process - outsourced 1261 委托代销商品 Trust to and sell the goods on a commission basis 1271 受托代销商品 Commissioned and sell the goods on a commission basis 1281 存货跌价准备 Inventory falling price reserves 1291 分期收款发出商品 Collect money and send out the goods by stages
财务术语中英文对照大全，财务人必备！ 2015-05-28注册会计师注册会计师 知道“会计”的英语怎么说吗？不会？那可真够无语的额！ 想要进入外资企业做会计？想要进入四大会计师事务所工作？好的英语水平是必不可少的！所以小编特地整理了财务数中英文大全，赶紧从基础英语学起，拿起笔做好笔记吧！ 增加见识也好，装装逼也行。 目录 一、会计与会计理论 二、会计循环 三、现金与应收账款 四、存货 五、长期投资 六、固定资产 七、无形资产
八、流动负债 九、长期负债 十、业主权益 一、财务报表 二、财务状况变动表 三、财务报表分析 四、合并财务报表 五、物价变动中的会计计量 一、会计与会计理论 会计accounting 决策人Decision Maker 投资人Investor 股东Shareholder 债权人Creditor 财务会计Financial Accounting 管理会计Management Accounting成本会计Cost Accounting
私业会计Private Accounting 公众会计Public Accounting 注册会计师CPA Certified Public Accountant 国际会计准则委员会IASC 美国注册会计师协会AICPA 财务会计准则委员会FASB 管理会计协会IMA 美国会计学会AAA 税务稽核署IRS 独资企业Proprietorship 合伙人企业Partnership 公司Corporation 会计目标Accounting Objectives 会计假设Accounting Assumptions 会计要素Accounting Elements 会计原则Accounting Principles 会计实务过程Accounting Procedures 财务报表Financial Statements 财务分析Financial Analysis 会计主体假设Separate-entity Assumption 货币计量假设Unit-of-measure Assumption 持续经营假设Continuity(Going-concern)Assumption
财务术语中英文对照FinancialAccounting （1）会计与会计理论 会计accounting 决策人DecisionMaker 投资人Investor 股东Shareholder 债权人Creditor 财务会计FinancialAccounting 管理会计ManagementAccounting 成本会计CostAccounting 私业会计PrivateAccounting 公众会计PublicAccounting 注册会计师CPACertifiedPublicAccountant 国际会计准则委员会IASC 美国注册会计师协会AICPA 财务会计准则委员会FASB 管理会计协会IMA 美国会计学会AAA 税务稽核署IRS 独资企业Proprietorship 合伙人企业Partnership 公司Corporation 会计目标AccountingObjectives 会计假设AccountingAssumptions 会计要素AccountingElements 会计原则AccountingPrinciples 会计实务过程AccountingProcedures 财务报表FinancialStatements 财务分析FinancialAnalysis 会计主体假设Separate-entityAssumption 货币计量假设Unit-of-measureAssumption 持续经营假设 Continuity(Going-concern)Assumption 会计分期假设Time-periodAssumption 资产Asset 负债Liability 业主权益Owner'sEquity 收入Revenue 费用Expense 收益Income 亏损Loss 历史成本原则CostPrinciple 收入实现原则RevenuePrinciple 配比原则MatchingPrinciple 全面披露原则 Full-disclosure(Reporting)Principle 客观性原则ObjectivePrinciple 一致性原则ConsistentPrinciple 可比性原则ComparabilityPrinciple 重大性原则MaterialityPrinciple 稳健性原则ConservatismPrinciple 权责发生制AccrualBasis