BÀI GIẢNG MÔN TIẾNG ANH CHUYÊN NGÀNH KẾ TOÁN - TÀI CHÍNH

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TRƯỜNG ĐẠI HỌC KINH TẾ VÀ QUẢN TRỊ KINH DOANH THÁI NGUYÊN..BỘ MÔN NGOẠI NGỮ..BÀI GIẢNG MÔN TIẾNG ANH CHUYÊN NGÀNH.(DÀNH CHO HỆ ĐÀO TẠO LIÊN THÔNG)..Accounting and Finance.Kế toán – Tài chính..PHẠM

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TRƯỜNG ĐẠI HỌC KINH TẾ VÀ QUẢN TRỊ KINH DOANH THÁI NGUYÊN
BỘ MÔN NGOẠI NGỮ




BÀI GIẢNG MÔN TIẾNG ANH CHUYÊN NGÀNH
(DÀNH CHO HỆ ĐÀO TẠO LIÊN THÔNG)



Accounting and Finance
Kế toán – Tài chính




PHẠM CƯỜNG




LƯU HÀNH NỘI BỘ
CHƯƠNG 1: THE WORLD OF ACCOUNTING




“There's no business like show business, but there are several businesses
like accounting.” David Letterman



MỞ ĐẦU

Liệt kê các chủ đề hoặc các nội dung liên quan tới chuyên ngành Kế toán.



Accounting standards




Accounting Bookkeeping




Accounting equation
BÀI GIẢNG TIẾNG ANH CHUYÊN NGÀNH - KẾ TOÁN – TÀI CHÍNH

PHẦN I. TỪ VỰNG
A. Sử dụng từ điển để tìm hiểu ý nghĩa các thuật ngữ trong lĩnh vực kế
toán ở cột bên trái và ghép với các giải nghĩa bằng tiếng Anh của
chúng ở cột bên phải.
1. accounting a. A written statement that shows the financial state of a
company at a particular time.
2. assets b. An official financial record that gives details of all a
company's income and expenses for a particular period and
shows if it has made a profit or a loss.
3. expenses c. The activity of keeping detailed records of the amounts of
money a business or person receives and spends.
4. balance sheet d. Money that a business spends on supplies, workers,
services, etc. in order to operate.
5. income statement e. The things that a company owns, that can be sold to pay debts.
6. profit f. An amount of money that is invested in or is used to start a
business.
7. capital g. Debts and obligations of a company.
8. liabilities h. A financial benefit when the amount of revenue gained from
a business activity exceeds the expenses, costs to sustain
the activity.

B. Dùng các thuật ngữ trong Phần A để điền vào đoạn văn sau.
(1) __ Accounting __ summarizes and submits financial information of a
business or organization in reports and statements. One of the most important financial
reports is the (2) ________________________. This report shows the economic
performance of a business, whether it has made a (3) ______________ or loss. The basic
format is revenues less (4) _____________ equals income (in Britain income is called
profit). If expenses are greater than sales, then there is a loss.
Another very important report is the (5) _________________________. This
shows assets, liabilities, and owner’s equity of the business on a specific day, usually the
last day of the accounting year.
(6) _______________ are normally divided into current and non-current assets.
Current assets are the assets that are used to fund day-to-day operations and pay ongoing
expenses. Noncurrent assets are intended for use in the long-term operations of a
business. Non-current assets will still be with the company in several years.


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(7) _______________ can be either short term or long term. The former are
current liabilities, which are debts payable within one year, while the latter are classified
as long-term liabilities, which are debts payable over a longer period.

PHẦN II. THẢO LUẬN VÀ ĐỌC HIỂU
A. THẢO LUẬN
1. What are functions of financial information?
2. Who may need the financial information of a company?
3. What are the responsibilities of an accountant in a company?
B. ĐỌC HIỂU
1. Đọc bài đọc và trả lời các câu hỏi sau.
1. Why is accounting called the “language of business”?
2. How is a standardized accounting system achieved?
3. What do the balance sheet and the income statement have in common? How
are they different?
4. How are accountants classified in the United States?
5. What kinds of services do public accountants probably provide?
6. Which type of accounting – public, private, or governmental – appeals to
you the most? Why?


AN INTRODUCTION TO ACCOUNTING
Accounting is frequently called the “language of business” because of its ability
to communicate financial information about an organization. Various interested parties,
including internal users, such as a company's managers and employees, and external
users, such as creditors, potential investors, governmental agencies, financial analysts,
and labor unions, rely on a company’s financial information to help them make
informed financial decisions. An effective accounting system, therefore, must include
accurate collecting, recording, classifying, summarizing, interpreting, and reporting of
information on the financial status of an organization.
In order to achieve a standardized system, the accounting process follows
accounting principles and rules. Regardless of the type of business or the amount of
money involved, common procedures for handling and presenting financial information


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are used. Incoming money (revenues) and outgoing money (expenditures) are carefully
monitored, and transactions are summarized in financial statements, which reflect the
major financial activities of an organization.
Two common financial statements are the balance sheet and the income
statement. The balance sheet shows the financial position of a company at one point of
time, while the income statement shows the financial performance of a company over a
period of time. Financial statements allow interested parties to compare one organization
to another and/or to compare accounting periods within one organization. For example,
an investor may compare the most recent income statements of two corporations in order
to find out which one would be a better investment.
People who specialize in the field of accounting are known as accountants. In the
United States, accountants are usually classified as public, private, or governmental.
Public accountants work independently and provide accounting services such as auditing
and tax computation to companies and individuals. Public accountants may earn the title
of CPA (Certified Public Accountant) by fulfilling rigorous requirements. Private
accountant work solely for private companies or corporations that hire them to maintain
financial records, and governmental accountants work for government agencies or
bureaus. Both private and governmental accountants are paid on a salary basis, whereas
public accountants receive fees for their services.
Through effective application of commonly accepted accounting systems,
private, public and governmental accountants provide accurate and timely financial
information that is necessary for organizational decision-making.
Từ vựng
- ability (n) - khả năng, năng lực
- communicate (v) - truyền đạt
- interested parties (n) – các bên quan tâm
- creditors (n) – các chủ nợ
- potential investors (n) – các nhà đầu tư tiềm năng
- governmental agencies (n) – các cơ quan chính phủ
- labor unions (n) – các liên đoàn lao động
- financial status (n) – tình hình tài chính
- accounting principles and rules (n) – các nguyên tắc và quy tắc kế toán

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- revenues (n) – doanh thu
- expenditures (n) – chi phí
- balance sheet (n) - bản cân đối kế toán
- income statement (n) – báo cáo thu nhập
- financial performance (n) - kết quả hoạt động tài chính
- auditing (n) - kiểm toán
- rigorous requirements (n) – các quy định nghiêm ngặt
- financial records (n) – các ghi chép thông tin tài chính
2. Lựa chọn từ hoặc cụm từ phù hợp nhất để hoàn thành các câu sau.
1. Accounting information is used by __________ to help them to make
financial decisions.
A. managers C. potential investors
B. creditors D. all of the above
2. Regardless of the type of business or the amount of money involved
____________.
A. all companies use identical accounting systems
B. balance sheets are more important than income statements
C. common procedures are used in handling financial information
D. no standardized accounting system is employed
3. Business monetary transactions are summarized in ______________.
A. bank books C. financial statements
B. computers D. cash registers
4. Public accountants may earn the title of CPA by ____________.
A. becoming governmental accountants
B. paying a fee
C. fulfilling rigorous requirements
D. obtaining a Bachelor of Arts degree in Accounting
5. Private and governmental accountants are paid on a _________ basis.
A. salary B. weekly C. fee D. monthly


PHẦN III. TRỌNG TÂM NGỮ PHÁP


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MỆNH ĐỀ QUAN HỆ
RELATIVE CLAUSES (Mệnh đề quan hệ)
A. Đại từ quan hệ thay cho danh từ chỉ Người và chỉ Vật
Mệnh đề quan hệ là mệnh đề được bắt đầu bằng các từ that, who, which hoặc
whose để miêu tả và xác định một đối tượng là người hoặc vật. Để chỉ người,
ta dùng who hoặc that. Để chỉ vật, ta dùng which hoặc that.
Chỉ người: The business consultants who/that advised us were very
experienced.
Chỉ vật: The services which that company offers are very expensive.
B. Mệnh đề quan hệ chủ ngữ và mệnh đề quan hệ tân ngữ
Đôi lúc chúng ta có thể giữ lại hoặc bỏ đi đại từ quan hệ.
 Nếu theo sau đại từ quan hệ who, which, that là động từ vị ngữ của mệnh
đề quan hệ, chúng ta không thể lược bỏ đi đại từ quan hệ:
We helped the tourists who had lost their way.
(who had lost their way là mệnh đề có đại từ quan hệ who là chủ ngữ)
 Nếu theo sau đại từ quan hệ who, which hoặc that là một danh từ hoặc
một đại từ đi liền với một động từ vị ngữ của mệnh đề, ta có thể lược bỏ đi
đại từ quan hệ. Vì vây, ta viết:
The computers that you ordered have arrived.
Hoặc:
The computers you ordered have arrived.
(Trong câu này, that you ordered là một mệnh đề quan hệ có đại từ
quan hệ that thay cho tân ngữ: you ordered the computers)
 Trong mệnh đề quan hệ tân ngữ, ta có thể dùng whom để chỉ người. Tuy
nhiên, cách dùng này chỉ thường thấy trong ngôn ngữ viết trang trọng.
The candidate whom they selected had intensive experience of the industry.
E. Mệnh đề quan hệ không hạn định
Trong một số trường hợp ta phải dùng who và which chứ không dùng that:
Sai: Starbucks Coffee Japan, that was established in 1995, has been
walking a different path.
Đúng: Starbucks Coffee Japan, which was established in 1995, has been
walking a different path.

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Mệnh đề quan hệ như trên nhằm cung cấp thêm thông tin được gọi là mệnh
đề quan hệ không hạn định và phải được ngăn cách với mệnh đề chính. Cùng
xem xét sự khác biệt giữa hai loại:
Mệnh đề quan hệ hạn định:
Citigroup is a US company that was formed in 1998 by bringing
together Citibank and Travelers.
Mệnh đề quan hệ không hạn định:
Legend Group Holdings, which is controlled by the Chinese
government, owns a majority stake in Lenovo.


PHẦN IV. BÀI TẬP ĐỀ NGHỊ
A. Sử dụng các từ vựng cho sẵn để hoàn thành đoạn văn phía dưới.

assets bookkeeping errors credit debit entries
measures transactions principles reform relationships practices

DEFINITION OF ACCOUNTING
Accounting is the measurement of financial (1) …………………….. which are
transfers of legal property rights made under contractual (2) ………………………….
Non-financial transactions are specifically excluded due to conservatism and materiality
principles. At the core of modern financial accounting is the double-entry (3)
……………………… system. This system involves making at least two (4)
……………………………… for every transaction: a (5) ……………………… in one
account, and a corresponding (6) ……………………… in another account.
Basically, the sum of all debits should always equal the sum of all credits; this provides
a simple way to check for (7) ……………………. This system was first used in
medieval Europe; however, claims have been made that the system dates back to
Ancient Rome or Greece. According to critics of standard accounting (8)
……………………….., accounting has changed little since. In each generation,
accounting (9) …………………….. of some kind has been made in order to try to keep
bookkeeping relevant to capital (10) …………………….. or production capacity, but
such changes have not altered the basic (11) ……………………… of accounting. In
recent times, the divergence of accounting from economic principles has resulted in



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controversial (12) ………………………… to make financial reports more indicative of
economic reality.


B. Ghép một thuật ngữ về loại hình kế toán với giải nghĩa phù hợp ở cột
bên.




C. Viết giải nghĩa cho các thuật ngữ bằng cách sử dụng cấu trúc sau.




1. Balance sheet is



2. Sales are


3. Capital is




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4. Income tax is


5. Accounts payable are


6. A creditor is


7. Creative accounting is


8. A loan is



D. Chọn lựa từ loại phù hợp để hoàn thành các câu sau.
1. communication / to communicate / communicative
a. Supervisors should strive for two-way _______________ with their employees.
b. By using an overhead projector, the guest speaker was able
_____________________ his statistical information clearly.
c. Because of the clerk’s highly developed _____________________ skills, she
was given a position that required her to deal directly with customers.
2. information / informed / informative
a. The owner ___________________ his employees that they would all receive a
5 percent pay increase.
b. Getting Acquainted with Accounting, by John L. Carey, is a very
__________________ book.
c. Financial ________________ is essential for organizational decision making.
3. allowance / allowed / allowable
a. The supervisor lost control of his staff members after he __________ them
to override his decisions.
b. When the factory was built 50 years ago, little _______________ was made
for remodeling and expansion.
c. Capital punishment is ____________ only under exceptional circumstances.
4. fulfillment / fulfill / fulfilling
a. At times the assembly line worker felt a lack of professional ___________.
b. When he was promoted to production supervisor, however, his job became
much more _____________________.

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c. Before the accountant could become a CPA, she had to ___________ a
number of requirements.
5. standards / has standardized / standard
a. The _______________ paper size in the United States for business letters
and memoranda is 8½ X 11 inches.
b. The accounts department _______________________ its procedures for
recording and presenting financial information.
c. Nowadays, rigorous __________________ are enforced in the area of food
processing and packaging.


E. Đọc đoạn giới thiệu về hoạt động kế toán ghi sổ và lựa chọn phương án
đúng nhất (A, B, C hoặc D) để điền vào mỗi ô trống.
Bookkeeping, commonly referred to as keeping the books, is the process of
keeping full, accurate, up-to-date business (1) ______. Proper bookkeeping can help
businesses (2) ________ manage cash flow, stay abreast of profits and losses, and
develop plans for the future based on financial trends. Furthermore, accurate
bookkeeping is required by tax (3) ________.
Bookkeeping involves making a record of the amounts received by a business as
well as the amounts paid out. It (4) ________ money a company owes to vendors,
employees, tax agencies, contractors and any other individual or entity. Likewise,
accurate records of amounts owed to a company by outside individuals and
organizations are also recorded in a company's (5) ________.
A company's books are used to determine the amount of taxes the company must
pay. They are also used in preparing (6) ________. Sometimes, a tax agency may decide
to investigate the information reported on a tax return or other type of tax-related
document. In such cases, business owners are required to present accurate records for
the tax agency's inspection. Failure to do so could (7) ________ fines, penalties, or in
severe cases, imprisonment.
Though necessary and beneficial to business owners, the task of bookkeeping can be
very time consuming. With no exceptions, every amount that is paid or received must be
recorded. Additionally, (8) ________ is of the utmost importance, making keeping the



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books in a rushed manner a very bad idea. As business owners are often lacking in time,
many choose to hire bookkeepers to keep company records well maintained.
Although hiring bookkeeping professionals may be a good idea for many
companies, not all business owners can afford to do so. This is particularity true of
smaller, home-based, or start-up businesses. (9) _______, there are many computer
bookkeeping programs designed to make the task of keeping the books manageable and
less time consuming. Many bookkeeping programs (10) _________ all of the
calculations for the user, taking the worry out of keeping accurate figures.
1. A. records B. deals C. account D. contacts

2. A. affect B. effect C. effective D. effectively

3. A. return B. authorities C. income D. payments

4. A. encompasses B. deducts C. makes up D. takes away

5. A. files B. folders C. books D. magnetic disks

6. A. tax breaks B. tax returns C. tax credits D. tax shelters

7. A. result fromB. cause C. lead to D. file for

8. A. accuracy B. accurate C. inaccurate D. inaccuracy

9. A. Unluckily B. However C. Fortunately D. Likewise

10. A. face B. deal C. encounter D. handle


F. Đọc đoạn bài đọc sau và trả lời các câu hỏi phía dưới.
BUDGETING AND ACCOUNTING
Everyone should agree that it is easy to spend money – sometimes too easy – and
it is difficult to save money. One may ask himself “Where did my money go?” after
counting the money in his purse. So before and after earning, spending and saving,
people and businesses turn to paper and pencil – and now to computers – to plan what is
going to happen with their money and account for what is happening or has happened to
it. A financial plan is called a budget.
This universal problem affects not only the individual, but all entities – small
businesses, big corporations, non-profit organizations, and the government. Many
politicians have made many speeches about cost over-runs and budget deficits caused by

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expenses being greater than income. Husbands and wives worry about living within their
means, and parents caution children about over-spending their allowances.
A budget is, quite simply, a forecast of what the revenue will be (how much
money will come in) and what the expenses will be (how much money will go out).
Some expenses are the result of purchases, and accountants call these purchases
expenditures. If the budget is for a profit-making entity, the revenue should exceed the
expenses and the bottom line should show a profit. The family hopes to have a balanced
budget, and politicians often demand the government balance its budget, too.
Budgets are prepared for certain periods of time. For example, a 12-month
accounting period is called a financial year. When the year begins, it then becomes the
task of the bookkeeper to record or enter the income and expense in journals and
ledgers. The accountant then counts up and analyzes the financial status and the
financial progress of the entity. The financial status is shown in a balance sheet which
shows the assets (what the business owns) and the liabilities (what the business owes)
and the equities (how much capital the business has). The accountant also prepares a
financial statement which has, in addition to the balance sheet, the income statement,
which shows the important bottom line and the entity’s profit or loss.
Từ vựng
- budget (n) – ngân sách
- entities (n) – đơn vị kinh tế
- allowances (n) - nguồn kinh phí, trợ cấp
- budget deficits (n) - thâm hụt ngân sách
- cost over-runs (n) – chi phí vựơt quá dự toán
- exceed (n) - lớn hơn, nhiều hơn
- journals (n) - sổ nhật ký
- ledgers (n) - sổ cái
- profit (n) - lợi nhuận
- loss (n) – lỗ
Xác định các thông tin sau có phù hợp với nội dung trong bài đọc không.
Nếu thông tin sau là đúng, ghi TRUE, nếu thông tin đó sai, ghi FALSE.
1. Saving money is as simple as using the money.


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2. A budget is often known as a financial result of the business.
3. If the revenue exceeds the expenses at the end of the accounting period, the
business has made a profit.
4. The financial year is often longer than the calendar year.
5. During the financial year, the bookkeeper records and enters earnings and
expenditures in journals and ledgers.
6. The balance sheet gives information about the entity’s earnings and
expenditures.




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CHƯƠNG 2: THE ACCOUNTS




MỞ ĐẦU

Brainstorm a list of a company’s assets, debts and capital resources.




Land Stocks
Stocks
Land
Assets
Assets
Buildings
Buildings Owner’s equity
Owner’s equity




Bank loans
Bank loans
Liabilities
Liabilities




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PHẦN I. TỪ VỰNG

A. Chọn lựa thuật ngữ đúng nhất so với giải nghĩa cho sẵn.

1. Amounts to be received in the future for goods or services sold on credit.
A. Accounts payable C. Income tax
B. Withdrawals D. Accounts receivable
2. Payment for the use of someone else's property.
A. Rent C. Income tax
B. Revenue D. Dividend
3. The cost of the supplies used in running an office.
A.Revenue C. Dividends
B. Office supplies D. Withdrawals
4. Amounts owed to others but not yet paid.
A. Income tax C. Accounts payable
B. Accounts receivable D. Withdrawals
5. Amounts of money invested into businesses in order to earn more money.
A. Income tax C. Revenue
B. Investments D. Dividends
6. Amount of money taken out of the business by the owner for personal use.
A. Withdrawals C. Income tax
B. Dividends D. Investments
7. The direct expenses to produce, manufacture, or purchase the goods or
services you sell.
A. Withdrawals C. Cost of goods
B. Dividends D. Rent
8. Direct tax on the earnings of individuals and corporations.
A. Income tax C. Rent
B. Revenue D. Investments
9. Earnings distributed to stockholders.
A. Rent C. Dividends
B. Revenue D. Investments




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10. The total amount of money a business takes in during a given period by
selling goods and services.
A. Rent C. Investments
B. Dividends D. Revenue


B. Ghép các thuật ngữ tiếng Anh kế toán bên trái với giải nghĩa bên phải.
1. the cost involved in selling goods, paying shop and
a. current assets
office staff, advertising, etc.
2. debts that will not have to be paid for several years
b. fixed assets (e.g. money borrowed by selling shares or
mortgaging property)
3. the cost to the firm of the merchandise sold
c. intangible assets (including the cost of raw materials, labour,
factory overheads)
4. cash, or other assets, that will be changed into cash
d. current liabilities
or consumed within a short time
e. long-term liabilities 5. the value of goods that are in stock and for sale
6. the profit from sales after the costs of selling, and
f. cost of sales
general expenses, have been subtracted
7. assets that are intended for use rather than sale, and
g. gross profit on sales that will be of use for more than one year (e.g.
buildings, cars). Also known as plant assets.
8. assets that do not have physical reality, such as the
h. net operating profit goodwill of customers, trade connections, patents,
copyrights
i. merchandise inventory 9. debts that have to be paid within a short time
10. the profit left after the cost of selling has been
j. selling and general expenses
subtracted from the value of sales


PHẦN II. THẢO LUẬN VÀ ĐỌC HIỂU
A. THẢO LUẬN
1. What are some documents that accountants can use to record transactions?
2. How are accounts classified? Name some of the widely used accounts.
3. What are major activities involved in the accounting process?


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B. ĐỌC HIỂU
SYSTEMS OF ACCOUNTS

The accounting process identifies business transactions and events, analyzes and
records their effects, and summarizes and presents information in reports and financial
statements. The accounting process that focuses on analyzing and recording transactions and
events follows these steps. Business transactions and events are the starting points. Relying on
source documents, the transactions and events are analyzed using the accounting equation to
understand how they affect company performance and financial position. These effects are
recorded in accounting records, informally referred to as the accounting books, or simply the
books. Additional steps such as posting and then preparing a trial balance help summarizes
and classifies the effects of transactions and events. Ultimately, the accounting process
provides information in useful reports or financial statements to decision makers.

Source documents identify and describe transactions and events entering the
accounting process. They are the sources of accounting information and can be in either hard
copy or electronic form. Examples are sales tickets, checks, purchase orders, bills from
suppliers, employee earnings records, and bank statements.

An account is a record of increases and decreases in a specific asset, liability, equity,
revenue, or expense item. The general ledger, or simply ledger, is a record containing all
accounts used by a company. The ledger is often in electronic form. While most companies’
ledgers contain similar accounts, a company often uses one or more unique accounts because
of its type of operations. Accounts are arranged into three general categories (based on the
accounting equation), as shown below.




Asset accounts
Assets are resources owned or controlled by a company and that have expected future
benefits. Most accounting systems include separate accounts for the assets described here.




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A Cash account reflects a company’s cash balance. All increases and decreases in
cash are recorded in the Cash account. It includes money and any medium of exchange that a
bank accepts for deposit (coins, checks, money orders, and checking account balances).
Accounts receivable are held by a seller and refer to promises of payment from
customers to sellers. These transactions are often called credit sales or sales on account
(or on credit). Accounts receivable are increased by credit sales and are decreased by
customer payments.
A note receivable, or promissory note, is a written promise of another entity to pay a
definite sum of money on a specified future date to the holder of the note. A company holding
a promissory note signed by another entity has an asset that is recorded in a Note (or Notes)
Receivable account.
Prepaid Accounts (also called prepaid expenses) are assets that represent
prepayments of future expenses (not current expenses). When the expenses are later
incurred, the amounts in prepaid accounts are transferred to expense accounts. Common
examples of prepaid accounts include prepaid insurance, prepaid rent, and prepaid services
(such as club memberships). Prepaid accounts expire with the passage of time (such as with
rent) or through use (such as with prepaid meal tickets). When financial statements are
prepared, prepaid accounts are adjusted so that (1) all expired and used prepaid accounts are
recorded as regular expenses and (2) all unexpired and unused prepaid accounts are
recorded as assets (reflecting future use in future periods).
Supplies are assets until they are used. When they are used up, their costs are reported
as expenses. The costs of unused supplies are recorded in a Supplies asset account. Supplies
are often grouped by purpose - for example, office supplies and store supplies. Office
supplies include stationery, paper, toner, and pens. Store supplies include packaging
materials, plastic and paper bags, gift boxes and cartons, and cleaning materials. The costs of
these unused supplies can be recorded in an Office Supplies or a Store Supplies asset account.
When supplies are used, their costs are transferred from the asset accounts to expense
accounts.
Equipment is an asset. When equipment is used and gets worn down, its cost is
gradually reported as an expense (called depreciation). Equipment is often grouped by
its purpose - for example, office equipment and store equipment. Office equipment
includes computers, printers, desks, chairs, and shelves. The Store equipment account

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includes the costs of assets used in a store such as counters, showcases, ladders, hoists,
and cash registers.
Buildings such as stores, offices, warehouses, and factories are assets because they
provide expected future benefits to those who control or own them. Their costs are recorded
in a Buildings asset account.
The cost of land owned by a business is recorded in a Land account. The cost of
buildings located on the land is separately recorded in one or more building accounts.
Liabilities accounts
Liabilities are claims (by creditors) against assets, which means they are obligations to
transfer assets or provide products or services to other entities. An organization often has
several different liabilities, each of which is represented by a separate account that shows
amounts owed to each creditor. Creditors are individuals and organizations that own the right
to receive payments from a company. If a company fails to pay its obligations, the law gives
creditors a right to force the sale of that company’s assets to obtain the money to meet
creditors’ claims. When assets are sold under these conditions, creditors are paid first, but
only up to the amount of their claims. Any remaining money, the residual, goes to the owners
of the company. Creditors often use a balance sheet to help decide whether to loan money to a
company. A loan is less risky if the borrower’s liabilities are small in comparison to assets
because this means there are more resources than claims on resources. Common liability
accounts are described here.
Accounts payable refer to oral or implied promises to pay later, which usually arise
from purchases of merchandise. Payables can also arise from purchases of supplies,
equipment, and services. Accounting systems keep separate records about each creditor.
A note payable refers to a formal promise, usually denoted by the signing of a
promissory note, to pay a future amount. It is recorded in either a short-term Note Payable
account or a long-term Note Payable account, depending on when it must be repaid.
Unearned Revenue refers to a liability that is settled in the future when a
company delivers its products or services. When customers pay in advance for products
or services (before revenue is earned), the revenue recognition principle requires that the
seller consider this payment as unearned revenue. Examples of unearned revenue
include magazine subscriptions collected in advance by a publisher, sales of gift
certificates by stores, and season ticket sales by sports teams. The seller would record

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these in liability accounts such as Unearned Subscriptions, Unearned Store Sales, and
Unearned Ticket Revenue. When products and services are later delivered, the earned
portion of the unearned revenue is transferred to revenue accounts such as Subscription
Fees, Store Sales, and Ticket Sales.
Accrued liabilities are amounts owed that are not yet paid. Examples are wages
payable, taxes payable, and interest payable. These are often recorded in separate liability
accounts by the same title.
Equity accounts
The owner’s claim on a corporation’s assets is called equity, stockholders’ equity, or
shareholders’ equity. Equity is the owners’ residual interest in the assets of a business after
deducting liabilities. Equity is impacted by four types of accounts: common stock, dividends,
revenues, and expenses.




When an owner invests in a company in exchange for common stock, the
invested amount is recorded in an account titled Common Stock. Any further owner
investments are recorded in this account. When the company pays any cash dividends it
decreases both the company’s assets and its total equity. Dividends are not expenses of
the business. They are simply the opposite of owner investments. A Dividends account
is used in recording asset distributions to stockholders (owners).
Revenues and expenses also impact equity. Examples of revenue accounts are
Sales, Commissions Earned, Professional Fees Earned, Rent Earned, and Interest
Revenue. Revenues increase equity and result from products and services provided to
customers. Expenses decrease equity and result from assets and services used in a
company’s operations.
Xác định các thông tin phía dưới có phù hợp với nội dung trong bài đọc
không. Nếu thông tin đó là đúng, ghi TRUE, nếu thông tin đó sai, ghi FALSE.
1. The Cash account shows the value of money that the company keeps in the
bank accounts and in the cash registers.

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2. The amount of money that customers owe to the corporation is recorded in
the accounts payable.
3. The amount of money that the corporation owes to its suppliers is recorded
in the accounts payable.
4. Credit sales do not reflect the cash amount a company keeps in cash registers
or banks.
5. Supplies are always recorded as assets.
6. If a company fails to pay its obligations, all the value of its assets that are
sold in a forced sale belongs to the creditors.
7. Buildings and equipment are recorded in asset accounts.
8. All notes payable to the bank are the corporation’s short-term liabilities.
9. Expired prepaid meal tickets are recorded as expenses.
10. Unearned revenue is recorded in liability accounts when the goods have not
been delivered.
11. Revenues and expenses have no relation with shareholder’s equity.
12. Equity is the source of capital that the corporation owns, including the
common stock, and retained earnings.
Các tài khoản nào sau không thuộc nhóm tài khoản tài sản?
A. cash
B. other businesses’ securities (stocks and bonds) that are marketable
C. account receivables
D. accounts payable
E. prepaid expenses
F. unearned store sales
G. land
H. dividends
I. interest payable
J. buildings
K. equipment
L. wages
M. common stock


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N. retained earnings


PHẦN III. TRỌNG TÂM NGỮ PHÁP
CONDITIONALS (CÁC LOẠI CÂU ĐIỀU KIỆN)
A. Giới thiệu
Câu điều kiện được sử dụng để nói về các tình huống và kết quả của nó. Câu
điều kiện phải có 2 mệnh đề: mệnh đề chính và mệnh đề điều kiện.
Mệnh đề điều kiện Mệnh đề chính
If we break into the EU market, our sales will increase a lot.
Mệnh đề điều kiện có thể đứng trước hoặc sau mệnh đề chính.
Mệnh đề Mệnh đề điều kiện
chính
Prices will rise if a deficit is financed by printing more money.
B. Chỉ dẫn điều kiện
If + present tense + imperative
If a fifteen percent discount is not accepted, please look for another supplier.
If the customer is a very difficult person, please stay calm.
C. Câu điều kiện loại 1
If + present tense + will / will not (won’t) + infinitive
If + present tense + must / should / can / may + infinitive
 Câu điều kiện loại 1 được dùng để nói về các kết quả của một sự việc có
thể xảy ra ở hiện tại hoặc tương lai.
If we increase our order, they will give us a higher discount.
If our main competitor goes bankrupt, we will increase our market share.
If a company needs capital, it may get a loan from a bank, or it may ask an investment
bank to sell equity or debt (stocks or bonds).
 Chúng ta thường dùng câu điều kiện loại 1 để nói về các điều kiện và điều
khoản trong một hợp đồng hoặc giao dịch.
If you are not fully satisfied with this product, we will refund your money.
Under the terms of their contract, employees must give 3 months' notice if they leave.
D. Câu điều kiện loại 2
If + past tense + would (not) / could / should / might + infinitive
 Chúng ta dùng câu điều kiện loại 2 để tưởng tượng ra các tình huống không
có thật ở hiện tại.

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Imagine what it would be like if every bank issued its own currency.
If prices never changed, nominal GDP would be sufficient.
If Portugal could make grape juice more efficiently than England, and if England could
make cloth more efficiently than Portugal, then trade would be beneficial to both.
 Câu điều kiện loại 2 được dùng để diễn đạt các kết quả tưởng tượng của
một sự việc không thể xảy ra ở hiện tại.
If you bought 10,000 shares, you would own 1 percent of the company.
If the wage rose to $14 per hour, some restaurants would stop hiring and others
would have to lay off some chefs.
If other companies entered the market, there would be more competition.
 “Were” được sử dụng phổ biến với tất cả các chủ ngữ của mệnh đề điều
kiện loại 2 trong văn phong Anh ngữ trang trọng.
If taxable income were defined as earned income, taxpayers receiving only interest and
dividends would be excluded from the payment of taxes.
If I were the Managing Director, I would restructure our company.
E. Câu điều kiện loại 3
If + past perfect + would /could / might have + past participle
 Câu điều kiện loại 3 được dùng để nói về những sự việc không xảy ra
trong quá khứ (và kết quả có thể của nó nếu sự việc đó xảy ra).
If the price / earnings ratio had been higher, I would have bought some shares.
The FTC estimated that consumers would have paid about $480 million more for CDs
than they did if prices had been determined by market forces.
F. Trường hợp đặc biệt
 Đôi khi việc kết hợp các mệnh đề điều kiện với mệnh đề chính không tuân
theo các cấu trúc nói trên. Hãy nghiên cứu một số ví dụ sau.
If the manager had not disguised the company’s financial situation, he would not be
in trouble now.
If oil price were not higher than they were in 2002 when we imported it, we would
have earned a lot of money.
We would be grateful if you would send us your payment made out to the order of
“Media Mart”.


PHẦN IV. BÀI TẬP ĐỀ NGHỊ


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A. Phân loại các tài sản sau bằng cách đánh dấu √ vào cột tương ứng.


Name of Account Current Fixed Current Long-term
Asset Asset Liability Liability
Accounts receivable
Accounts payable
Notes payable
Mortgage payable
Cash
Supplies
Salaries payable
Land
Equipment
Goodwill
Bonds
Buildings
Patents
Income Tax payable
B. Phân loại tài khoản
Derwood Corporation lập bảng cân đối kế toán sử dụng các phân loại tài khoản
sau:
1. Current assets 5. Current liabilities
2. Investments and funds 6. Long-term liabilities
3. Property, plant, and equipment 7. Contributed capital
4. Intangible assets 8. Retained earnings
Dưới đây là một số tài khoản. Hãy sử dụng các con số nói về các phân loại tài
khoản để phân loại các tài khoản sau.
_____ a. Office Supplies
_____ b. Accounts payable
_____ c. Store equipment
_____ d. Merchandise inventory (ending balance)
_____ e. Common stock
_____ f. Land held for future expansion
_____ g. Patents
_____ h. Bonds payable
_____ i. Retained earnings
_____ j. Allowance for uncollectible accounts
_____ k. Mortgage payable
_____ l. Short-term investments

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_____ m. Notes receivable--due in 6 months
_____ n. Salaries payable
_____ o. Prepaid Insurance


C. Phân loại các tài khoản
1. Accounts Payable
A. Owner’s equity B. Asset C. Liability D. Expense
2. Interest receivable
A. Expense B. Asset C. Owner’s equity D. Revenue
3. Vehicles
A. Revenue B. Expense C. Owner’s equity D. Asset
4. Buildings
A. Owner’s equity B. Asset C. Revenue D. Expense
5. Insurance
A. Owner’s equity B. Asset C. Revenue D. Expense
6. Sales
A. Revenue B. Expense C. Owner’s equity D. Asset
7. Cost of Goods Sold
A. Asset B. Liability C. Owners' Equity D. Expense
8. Accounts Receivable
A. Asset B. Liability C. Revenue D. Expense
9. Furniture
A. Asset B. Liability C. Owners' Equity D. Expense
10. Common Stock
A. Owners' Equity B. Asset C. Revenue D. Expense
11. Prepaid Expenses
A. Asset B. Liability C. Owners' Equity D. Expense
12. Retained Earnings
A. Owners' Equity B. Revenue C. Expense D. Asset
13. Inventories
A. Owner’s equity B. Asset C. Revenue D. Expense
14. Cash at Bank


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A. Owners' Equity B. Revenue C. Expense D. Asset
15. Goodwill
A. Owner’s equity B. Asset C. Revenue D. Expense


D. Điền vào ô trống các từ liên quan tới tài sản.
book value current assets depreciable assets convertibility
prepaid expenses fixed assets long-term assets intangible assets
Assets are the economic resources of an organization that can usefully be
expressed in monetary terms. The assets can be classified into (1) ______________ and
(2) ______________. Current assets are cash and the assets that will be converted into
cash or used up during the normal operating cycle of the business or one year,
whichever is longer. Current assets are usually listed in the order of their “liquidity” or
(3) _______________ into cash. Some examples of current assets are notes receivable
and marketable securities. (4) ______________ such as insurance, rent, and supplies are
normally consumed during the operating cycle rather than converted into cash.
Long-term assets are relatively long-lived assets used in operating an
organization and may be further classified into (5) _________________ (or plant and
equipment) and (6) ___________________. Fixed assets may include land,
buildings, and various kinds of equipment (machinery, store fixtures, office
equipment, delivery equipment, etc.). They constitute the major category of the long-
term assets. (7) ___________________ are normally shown at their original cost.
The accumulated portion of the cost taken as depreciation to date is subtracted from
its original cost to obtain the (8) _________________ of the asset. Intangible assets
are characterized by the legal claims or rights which may include patents,
trademarks, franchises, goodwill, etc.


E. Dựa theo khái niệm trong hoạt động kế toán, xác định các thông tin sau là
đúng hay sai. Nếu đúng, ghi TRUE. Nếu sai, ghi FALSE.
1. A debt or obligation that must be paid or liquidated within the one year or
one operating cycle of the business is classified as a current liability.
_____________



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2. Assets are the economic resources that are expected to produce future
benefits. _____________
3. An asset that may reasonably be expected to be realized in cash or be
consumed within one year or one operating cycle of the business, whichever
is longer, is classified as a current asset. _____________
4. Land, buildings, and equipment are examples of business expenses.
_____________
5. Current assets include cash, short-term investments, prepaid expenses, and
accounts payable. _____________
6. Long-lived assets (resources used to produce or sell products or services)
that lack physical form and have benefits that are uncertain are called
intangible assets. _____________
7. A twenty-year mortgage note is an example of a long-term liability.
_____________
8. Prepaid expenses refer to amounts received in advance of when the product
or service is received. _____________


F. Đọc bài đọc sau và trả lời các câu hỏi phía dưới.
WHAT IS EQUITY?
Ownership in a company, called equity, is certified through pieces of paper -
called shares or stocks - that state that "the holder of this share owns a part of this
company."
When the company makes a profit, its owners share in the benefits by receiving a
dividend or by selling their shares for more money than they originally paid. When the
company loses money, however, the dividends are reduced or eliminated and the share
price tends to fall. In the worst case, the company goes bankrupt, i.e. owing more than it
can pay. The shares then become worthless and the owners lose all the money invested
in them.
A company's shareholders are paid last after the suppliers, after the banks, and
after the bondholders. The risk is that there may be nothing left for stockholders after
everyone else has been paid off. The reward is that when a company earns a lot, the



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stockholders get it all. With equity, there is higher risk but also the opportunity for
greater reward.
All investments involve a certain amount of risk, but a stock is generally
considered much more risky than a bond, which is an agreement by the company to pay
a specific amount of money at a specific time. In contrast to the fixed income of a bond,
the return on an equity investment is unknown. To reward investors for this risk, equity
tends to provide a higher return, either in the form of dividend payments or by an
increase in value, when the company retains its earnings. Stocks often rise and fall in
value rapidly, while bonds tend to be more stable. Bondholders are creditors of a
company with a guaranteed return on their investment, whereas shareholders are owners,
with all the risks and rewards ownership entails.
International equity investment is not limited to the major financial center of
London, New York, and Tokyo. Equity ownership can now mean a share of a fast-food
store in Moscow, or it can mean a part of Thailand's booming manufacturing industry. It
can be part ownership of a hotel in Rio de Janeiro or a light bulb company in Budapest.
Equity means ownership, and ownership is now allowed in almost every country in the
world.
1. What is the risk for stockholders since they are paid last?
2. By what documents is ownership in an equity certified?
3. How are benefits of shareholders realized when the company makes a profit?
4. Is the equity investment limited to the major financial centers?
5. What is the price of the shares when the company goes bankrupt?
6. In what way do bonds differ from shares?
Tìm từ đồng nghĩa với từ được gạch chân.
1. Any individual who holds shares owns a part of a company.
a) stocks b) ownership c) money
2. Ownership is now allowed in almost every country in the world.
a) friendship b) partnership c) private business
3. Equity means ownership which is now allowed in almost every country in
the world.
a) share b) goods c) interest rate



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G. Hoàn thành phần bài viết dưới đây bằng cách điền vào ô trống các giới
từ phù hợp.
by on in up off behind
Most people pay their domestic bills (1) _______ cash or (2) _______ cheque. This
is often unrealistic in business. But allowing customers to buy large amounts of stock (3)
_______ credit is not without its problems. It is extremely difficult to ask a valued
customer for payment (4) _______ advance because it may look as if you do not trust
them. You cannot really charge them interest (5) _______ the outstanding sum either,
even if they miss the agreed deadline for settlement, or they might get upset and withdraw
their business altogether.
To make matters worse, many companies these days will deliberately sit (6)
________ your invoice and wait to see how long it is before you actually put pressure (7)
________ them to pay (8) ________. Of course, you can ease both your cashflow situation
and theirs by offering them the facility to pay (9) ________ what they owe you (10)
________ regular instalments. But that does not mean they will not fall (11) ________ with
their repayments when they are short of cash. And you may end up writing (12) ________
half of the debt altogether.
Things would probably be a lot simpler if everyone paid (13) ________ front for the
goods they bought and in theory a customer should be able to pay straightaway (14)
________ direct bank transfer. This, of course, would mean customers remained (15)
________ constant credit with their suppliers, but it would also prevent them from playing
the waiting game with their creditors. Since most companies cannot pay you your money till
they get theirs, they will continue to conserve cash until the very last minute.

H. Nhiều người thỉnh giáo Kenny Cookham, chuyên viên kế toán quản trị,
về kiểm soát tín dụng, dòng tiền, … Đọc phần tóm tắt bài thuyết trình
của Kenny.
A company with more debts than money to pay them, or in other words more
liabilities than assets, is insolvent and if a creditor takes the matter to court the company
may be declared bankrupt. This situation can arise even if the company has wonderful
sales figures. How is this possible? Some people say that it is not money that makes the
world go round, but credit. Getting orders is tough enough, but getting paid can be even
tougher. If the company's cash is tied up in stocks of materials and credit to customers it

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may not have enough cash to pay short-term expenses. It has a cash-flow problem.
Managerial accountants and financial directors know that what distinguishes an
efficiently managed business from a poorly managed one is the way it controls credit
and manages cash-flow, in other words the skill with which a company can make its
creditors wait and put pressure on its debtors. So how can credit be controlled, and the
risk of bad debt be minimized? The ideal solution would be to make the customer pay
up front, but the goodwill of your customers is vital to securing their business in the
future. Charge interest on outstanding debts and again you risk alienating your
customers. Debts do of course show up in a company's assets, but it is hard cash, not
promises to pay, that finances new projects. Promises are often forgotten, and creditors
have better memories than debtors.
Dưới đây là các câu hỏi Kenny đã cố gắng giải đáp. Lựa chọn câu trả lời
phù hợp (A, B hoặc C) với mỗi nội dung.
1. What is the difference between insolvent and bankrupt?
A. Insolvency and bankruptcy are the same.
B. Insolvency and bankruptcy are similar but there is a legal difference.
C. Insolvency and bankruptcy are two completely different things.
2. How is it possible to have good sales figures and a cash-flow crisis?
A. You can’t have a cash-flow problem if you sell a lot.
B. If you sell a lot you will always have a cash-flow problem.
C. If you sell a lot and the customers take a long time to pay you may have a
cashflow problem.
3. How can credit be controlled?
A. It is impossible to control credit.
B. It’s best to make the customers pay up front.
C. Efficient financial management is the key to controlling credit.
4. How can a company minimize the risk of bad debt?
A. The best way to minimize bad debt is to charge the customer extra for
paying late.
B. It’s a question of skillful management.
C. The best way to minimize bad debt is to take the customer to court.



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5. Why not to make the customer pay in advance?
A. If you make the customer pay up front you risk losing their goodwill.
B. It’s impossible to make the customer pay up front.
C. If you make the customer pay up front they will take you to court.




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CHƯƠNG 3: ANALYZING AND RECORDING TRANSACTIONS




“We don’t do press releases on all of our transactions.”
Scott Jones


MỞ ĐẦU

Sử dụng các gợi ý để điền các thuật ngữ bên vào ô chữ.

Journal


Ledger


Transaction


Account


Posting


Receipt




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TỪ VỰNG 1 – Từ vựng theo ngữ cảnh

ANALYZING TRANSACTIONS
The first step in the accounting process is to analyze every transaction (economic
event) that affects the business. The accounting equation (Assets = Liabilities + Owner's
Equity) must remain in balance after every transaction is recorded, so accountants must
analyze each transaction to determine how it affects owner's equity and the different types
of assets and liabilities before recording the transaction.
Assume Mr. J. Green invests $15,000 to start a landscape business. This
transaction increases the company's assets, specifically cash, by $15,000 and increases
owner's equity by $15,000. Notice that the accounting equation remains in balance.



Mr. Green uses $5,000 of the company's cash to place a down-payment on a used
truck that costs $15,000, and he signs a note payable that requires him to pay the
remaining $10,000 in eighteen months. This transaction decreases one type of asset
(cash) by $5,000, increases another type of asset (vehicles) by $15,000, and increases a
liability (notes payable) by $10,000. The accounting equation remains in balance, and
Mr. Green now has two types of assets ($10,000 in cash and a vehicle worth $15,000), a
liability (a $10,000 note payable), and owner's equity of $15,000.




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Given the large number of transactions that companies usually have, accountants
need a more sophisticated system for recording transactions than the one shown on the
previous page. Accountants use the double-entry bookkeeping system to keep the
accounting equation in balance and to double-check the numerical accuracy of
transaction entries. Under this system, each transaction is recorded using at least two
accounts. An account is a record of all transactions involving a particular item.
Companies maintain separate accounts for each type of asset (cash, accounts
receivable, inventory, etc.), each type of liability (accounts payable, wages payable,
notes payable, etc.), owner investments (usually referred to as the owner's capital
account in a sole proprietorship), owner drawings (withdrawals made by the owner),
each type of revenue (sales revenue, service revenue, etc.), and each type of expense
(rent expense, wages expense, etc.). All accounts taken together make up the general
ledger. For organizational purposes, each account in the general ledger is assigned a
number, and companies maintain a chart of accounts, which lists the accounts and
account numbers.
Account numbers vary significantly from one company to the next, depending on
the company's size and complexity. A sole proprietorship may have few accounts, but a
multinational corporation may have thousands of accounts and use ten- or even twenty-
digit numbers to track accounts by location, department, project code, and other
categories. Most companies numerically separate asset, liability, owner's equity,
revenue, and expense accounts. A typical small business might use the numbers 100–
199 for asset accounts, 200–299 for liability accounts, 300–399 for owner's equity
accounts, 400–499 for revenue accounts, 500–599 for cost of sales expense accounts,
and 601–699 for operating expense accounts.
Tìm từ hoặc cụm từ trong bài khóa theo giải nghĩa sau.
a. a business deal or action, such as buying or selling something __________
b. having a value in money __________________
c. highly complicated or developed __________________
d. the usual way of keeping a company's financial records, in which each
amount spent, received, etc. is recorded with a credit in one account and a
debit in another ___________________________
e. a business that is owned and run by one person ___________________

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f. a company's accounting records ________________________
g. list of all accounts used in the ledger by a company _____________
h. A corporation with operations in two or more countries ______________

THẢO LUẬN


1. How do accountants record transactions of a business during an accounting
year or a period of operation?
2. Work with a partner and describe the basic accounting cycle.




ĐỌC HIỂU

Debits and Credits
A T-account represents a ledger account and is a tool used to understand the effects of
one or more transactions. Its name comes from its shape like the letter T. The layout of a T-
account is the account title on top, a left, or debit side, and a right, or credit, side.




The left side of an account is called the debit side, often abbreviated Dr. The
right side is called the credit side, abbreviated Cr. To enter amounts on the left side of
an account is to debit the account. To enter amounts on the right side is to credit the
account. The terms debit or credit does not mean increase or decrease. Whether a debit

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or a credit is an increase or decrease depends on the account. In an account where a debit
is an increase, the credit is a decrease; in an account where a debit is a decrease, the
credit is an increase. The difference between total debits and total credits for an account,
including any beginning balance, is the account balance. When the sum of debits
exceeds the sum of credits, the account has a debit balance. It has a credit balance when
the sum of credits exceeds the sum of debits. When the sum of debits equals the sum of
credits, the account has a zero balance.
Double-Entry Accounting
Double-entry accounting requires that each transaction affect, and be recorded in,
at least two accounts. It also means the total amount debited must equal the total amount
credited for each transaction. Thus, the sum of the debits for all entries must equal the
sum of the credits for all entries, and the sum of debit account balances in the ledger
must equal the sum of credit account balances.
The system for recording debits and credits follows from the usual accounting
equation. Two points are important here. First, net increases or decreases on one side have
equal net effects on the other side. For example, a net increase in assets must be accompanied
by an identical net increase on the liabilities and equity side. Second, the left side is the
normal balance side for assets, and the right side is the normal balance side for liabilities and
equity. This matches their layout in the accounting equation where assets are on the left side
of this equation, and liabilities and equity are on the right.




Equity increases from revenues and owner investments and it decreases from expenses
and owner withdrawals. These important equity relations are conveyed by expanding the
accounting equation to include debits and credits in double-entry form. Increases (credits) to
capital and revenues increase equity; increases (debits) to withdrawals and expenses decrease
equity. The normal balance of each account (asset, liability, capital, withdrawals, revenue, or
expense) refers to the left or right (debit or credit) side where increases are recorded.
Understanding these diagrams and rules is required to prepare, analyze, and interpret financial
statements.


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Journalizing and Posting Transactions

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Processing transactions is a crucial part of
accounting. Step 1 analyzes a transaction and its
source document(s) and applies double-entry
accounting to identify the effect of a transaction on
account balances. Step 2 requires that we record
transactions in a record called a journal before
recording them in accounts. This is to avoid the
potential for error and the difficulty in tracking
mistakes. A journal gives us a complete record of
each transaction in one place. It also directly links
the debits and credits for each transaction. The
process of recording transactions in a journal is
called journalizing. Step 3 is to transfer (or post)
entries from the journal to the ledger. The process of
transferring journal entry information to the ledger is
called posting. Step 4 requires the preparation of a
trial balance to check whether debit and credit
account balances are equal.




Journalizing Transactions

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The process of journalizing transactions requires an understanding of a journal.
While companies can use various journals, every company uses a general journal. It can be
used to record any transaction and includes the following information about each
transaction: (1) date of transaction, (2) titles of affected accounts, (3) amount of each debit
and credit, and (4) explanation of the transaction. A complete journal entry gives us a
useful description of the transaction and its effects on the organization.




Posting Journal Entries
To ensure that the ledger is up to date, entries are posted as soon as possible. This
might be daily, weekly, or when time permits. All entries must be posted to the ledger
by the end of a reporting period. This is so that account balances are current when
financial statements are prepared. Because the ledger is the final destination for
individual transactions, it is referred to as the book of final entry.
When posting entries to the ledger, the debits in journal entries are copied into
ledger accounts as debits, and credits are copied into the ledger as credits.
For each journal entry, the usual process is to post debit(s) and then credit(s). The
steps in posting are: (1) identify the ledger account that was debited in the journal entry, (2)
enter the date of the journal entry in this ledger account, (3) enter the source of the debit in
the PR column, both the journal and page - the letter G shows it came from the General
Journal, (4) enter the amount debited from the journal entry into the Debit column of the
ledger account, (5) compute and enter the account’s new balance in the Balance column, (6)
enter the ledger account number in the PR column of the journal entry.




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Posting in Computerized Systems
Computerized systems require no added effort to post journal entries to the
ledger. These systems automatically transfer debit and credit entries from the journal to
the ledger database. Journal entries are posted directly to ledger accounts. Many systems
have programs that test the reasonableness of a journal entry and the account balance
when recorded.
Trial Balance
A trial balance is a list of accounts and their balances at a point in time. Account
balances are reported in the debit or credit column of the trial balance. The trial balance is
used to check whether debit and credit account balances are equal and used as an internal
report for preparing financial statements. Preparing statements is easier when we can take
account balances from a trial balance instead of searching the ledger.
We know that one or more errors exist when a trial balance does not balance
(when its columns are not equal). When a trial balance does balance, the accounts are

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likely free of the kinds of errors that create unequal debits and credits. Yet errors can
still exist. One example is when a debit or credit of a correct amount is made to a wrong
account. This can occur when either journalizing or posting. The error would produce
incorrect balances in two accounts but the trial balance would balance. Another error is
to record equal debits and credits of an incorrect amount. This error produces incorrect
balances in two accounts but again the debits and credits are equal. We give these
examples to show that when a trial balance does balance, it does not prove that all
journal entries are recorded and posted correctly.
In a computerized accounting system, the trial balance would always balance.
Accounting software is such that unbalanced entries would not be accepted by the system.
However, errors as described in the last paragraph can still exist in a computerized system.
Câu hỏi phần đọc hiểu
1. What is a T-account like?
2. The first step in the accounting cycle consists of _______________
a. determining when and if an economic event or transaction should be
recorded in the accounting system
b. journalizing transactions according to the rules of double-entry
bookkeeping
c. identifying the nature of the transaction in terms of how the company’s
accounts are affected
d. Answers a and c are both correct.
3. Does debit always mean increase and credit always mean decrease?
4. What kinds of transactions increase owner’s equity? What kinds decrease
owner’s equity?
5. When does an account have zero balance?
6. Double-entry accounting requires that (select the best answer):
a. All transactions that create debits to asset accounts must create credits to
liability or owner’s equity accounts.
b. A transaction that requires a debit to a liability account also requires a
credit to an asset account.
c. Every transaction must be recorded with total debits equal to total
credits.

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7. What is journalizing? What is posting?
8. What is often referred to as the book of final entry?
9. Why do we need the trial balance?
10. Can errors exist in a computerized accounting system?



TỪ VỰNG 2

A. Lựa chọn thuật ngữ có nội dung phù hợp với giải nghĩa.
1. Source of information for accounting entries that can be in either paper or
electronic form; also called business papers.
A. Account C. Source documents
B.T-account D. Journal
2. Liability created when customers pay in advance for products or services;
earned when the products or services are later delivered.
A. Account balance C. Unearned revenue
B.Trial balance D. General journal
3. List of accounts used by a company; includes an identification number for
each account.
A. Chart of accounts C. Account
B. Source documents D. T-account
4. Journal entry that affects at least three accounts.
A. Compound journal entry C. General journal
B.Account balance D. Journalizing
5. Recorded on the left side; an entry that increases asset and expense accounts,
and decreases liability, revenue, and most equity accounts; abbreviated Dr.
A. Credit B. Creditor C. Ledger D. Debit
6. Accounting system in which each transaction affects at least two accounts
and has at least one debit and one credit.
A. Double entry accounting C. T-account
B. Balance column account D. Chart of accounts




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7. Account showing the owner's claim on company assets; equals owner
investments plus net income (or less net losses) minus owner withdrawals
since the company's inception; also referred to as equity.
A. Debt C. General journal
B.Journal D. Owner’s capital
8. Process of transferring journal entry information to the ledger; computerized
systems automate this process.
A. Account C. Credit
B.Journal D. Posting
B. Xác định những giải nghĩa thuật ngữ sau là đúng hai sai. Nếu đúng, ghi
TRUE. Ngược lại, ghi FALSE.
1. Account → Record within an accounting system in which increases and
decreases are entered and stored in a specific asset, liability, equity, revenue,
or expense.
2. Source documents → Source of information for accounting entries that can
be in either paper or electronic form; also called business papers.
3. Credit → Recorded on the right side; an entry that decreases asset and
expense accounts, and increases liability, revenue, and most equity accounts;
abbreviated Cr.
4. General ledger or Ledger → All-purpose journal for recording the debits
and credits of transactions and events.
5. Account balance → Difference between total debits and total credits
(including the beginning balance) for an account.
6. Balance column account → Account with debit and credit columns for
recording entries and another column for showing the balance of the account
after each entry.
7. Journalizing → Process of recording transactions in a journal.
8. General Journal → Record in which transactions are entered before they
are posted to ledger accounts; also called book of original entry.
9. Posting (PR) Reference → Process of transferring journal entry information
to the ledger; computerized systems automate this process.
10. Double Entry Accounting → Accounting system in which each transaction
affects at least two accounts and has at least one debit and one credit.
11. Posting → Process of transferring journal entry information to the trial
balance; computerized systems automate this process.

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12. Trial balance → Difference between total debits and total credits (including
the beginning balance) for an account.


TRỌNG TÂM NGỮ PHÁP

MODALS (Động từ khuyết thiếu)
A. Giới thiệu
 Modals là các động từ khuyết thiếu như can, could, may, might, must,
should, would, ought to. Chúng được gọi là động từ khuyết thiếu do chúng
phải đi kèm với một động từ khác để diễn đạt các ý nghĩa như khả năng, sự
cho phép, phỏng đoán, lời khuyên hoặc nghĩa vụ.
We should carry out a market research to know what our customers really
need and want.
Oil prices may be much higher in the next five years.
You can complain about the quality of their services.
Consumers have to pay more for goods than they would in a market open to
imports.
Governments might seek foreign investment from multinational corporations
through sales of government bonds.
 Động từ khuyết thiếu có dạng phủ định.
can - cannot / can’t
could - could not / couldn’t
may - may not / mayn’t (không phổ biến)
might - might not / mightn’t (không phổ biến)
must - must not / mustn’t
should - should not / shouldn’t
would - would not / wouldn’t
ought to - ought not to / oughtn’t to (không phổ biến)
B. Ý nghĩa của động từ khuyết thiếu
 Động từ khuyết thiếu diễn đạt nhiều ý nghĩa khác nhau. Những ý nghĩa
chính được diễn đạt bao gồm:
Sự cho phép
You may leave if you have finished the report.

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Our loyal customers can get a ten percent discount for all the services
they use.
I wonder if I might employ extra staff for my branch.
You could use the budget provided that you do not get in trouble with
budget deficit.
Năng lực
Our new devisional manager can speak four languages fluently.
The new production line can produce 1000 units per day.
He could program a computer when he was only thirteen years old.


Khả năng và phỏng đoán
Making decisions in complicated situations can be extremely difficult.
You can use ATM and debit cards to purchase goods and services.
High levels of foreign debt could pose a problem in the future.
It could be weeks before we get a reply.
It would cost very much more for us to expand our business into Italy.
America might sell more cars to that market if they were made with the
steering wheel on the right.
The firm may be forced to make a number of employees redundant in the
coming months, but the situation may improve in the longer term.
Trách nhiệm, nghĩa vụ, sự cần thiết và cấm đoán
To run a business, firms must purchase what they need from the factor
market.
The minimum wage is a legal minimum amount that an employer must pay
for one hour of work.
As the EU expands, new members must meet specific economic standards
before they can adopt the euro.
We ought to increase our prices in order to make a profit.
Retailers cannot / may not sell below cost price in some countries.
You mustn’t enter a joint venture unless both parties benefit from the deal.
Lời khuyên, gợi ý, đề xuất, mời chào
I would look for another distributor if I were you.

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They might be wise to stop advertising on television.
If you need more information, you might try the Internet.
May I suggest that you consider the matter further before taking any
action?
Perhaps you would like to pay a visit to London branch.
I think we should employ some extra marketing staff for the campaign.
Would you like to join our venture?

BÀI TẬP ĐỀ NGHỊ

A. Nối thuật ngữ kế toán với phần giải nghĩa phù hợp.
1. Ledger ___________
2. Journal ___________
3. Prepaid Expense ___________
4. Debit and Credit ___________
5. Closing Entries ___________
6. Unearned Revenues ___________
7. Account Cycle ___________
8. Adjusted trial balance ___________

a. Trial balance taken immediately after all adjustments have been posted.
b. The formal process by which the enterprise reduces all nominal accounts to
zero and determines and transfers the net Income or net loss to an owners
equity account.
c. Revenues received in cash and recorded as liabilities before a company
earns.
d. Analysis of transaction and selected other events.
e. The book or computer printouts containing accounts.
f. Meaning left and right respectively to describe where a company entries in
the recording process.
g. Assets paid for and recorded before a company use them.
h. The "book of original entry" where the company initially records transaction
and selected other events.


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B. Điền vào ô trống từ Debit hoặc Credit
1. The right side of an account is the _____________ side.
2. Asset accounts are increased by a _____________.
3. Liability accounts are decreased by a _____________.
4. Expense accounts are increased by a _____________.
5. The left side of an account is the_____________ side.
6. Revenue accounts are increased by a _____________.
7. Owner's equity is increased by a _____________.
8. The cash account is increased by a _____________.
9. The accounts payable account is increased by a _____________.
10. The dividend account is increased by a _____________.
11. The accounts receivable account is decreased by a _____________.
12. The retained earnings account is decreased by a _____________.
C. Xác định các câu sau có nội dung đúng hay sai. Nếu đúng, ghi TRUE.
Ngược lại, ghi FALSE.
1. The accounting cycle begins at the start of a new accounting period.
_________
2. A journal entry can consist of no more than one account to be debited and
one account to be credited. ________
3. When a transaction is journalized, the total of the amounts debited must
equal the total of the amounts credited. ________
4. The general ledger contains the accounts that are used to prepare the
financial statements. __________
5. A ledger is sometimes referred to as a record of original entry. ________
6. Closing entries are necessary if the business plans to continue operating in
the future and issue financial statements each year. _________
7. Closing entries are journalized after adjusting entries have been journalized.
_________
8. After closing entries have been journalized and posted, all temporary
accounts in the ledger should have zero balances. _________

D. Sử dụng các thuật ngữ trong khung để hoàn thành các câu sau.


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accounting cycle closing entries journal
post-closing trial balance fiscal year journalizing
trial balance general journal posting
general ledger source document ledger
correcting entry compound entry

1. A(n) _____________________ is an accounting period of twelve months
ending on the last day of any month.
2. The various activities a business completes to organize its accounting
records in an orderly fashion is called the _____________________.
3. A(n) _____________________ is any type of business paper that verifies
that a transaction occurred.
4. A(n) _____________________ is often called a book of original entry.
5. The _____________________ is an all-purpose journal used for recording
business transactions.
6. Another term used for "recording" a business transaction is ____________.
7. A(n) _____________________ is a journal entry with two or more debits or
two or more credits.
8. Transferring data from the journal to the ledger is called ______________.
9. The accounts used by a business can be kept on pages or cards, which are
kept together in a book or file called a(n) _____________________.
10. Whether accounts are kept manually in a special file or electronically on
magnetic disks or tapes, the ledger is often called a(n) ________________.
11. A periodic report prepared by a business to test the equality of total debits
and total credits in the ledger is called a(n) _____________________.
12. _____________________ are made to close out or reduce to zero the
balance of certain general ledger accounts.
13. A(n) ____________________ is prepared to prove that debits in the ledger
accounts are equal to the credits after the closing entries have been posted.
14. Errors discovered after posting has taken place require a(n) ____________.

E. Hoàn thành đoạn bài viết sau với những từ trong khung.

credits debits double-entry invoice
journals ledger posted receipt

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transactions transferred trail balance vouchers

Bookkeepers record every purchase and sale that a business makes, in the order
that they take place, in (1) ___________________. On a later date, these temporary
records are entered in or (2) ___________________ to the relevant account book or (3)
___________________. Of course the “books” these days are likely to be computers
files. At the end of an accounting period, all the relevant totals are (4)
________________________ to the profit and loss account. (5) __________________
bookkeeping records the dual effect of every transaction – a value both received and
parted with. Payments made or (6) ______________________ are entered on the left-
hand (debtor) side of an account, and payments received or (7) ___________________
on the right-hand side. Bookkeepers will periodically do a (8) __________________ to
test whether both sides of an account book match. In most business (9)
____________________, the seller of goods or services sends the buyer a bill or (10)
___________________, and later a (11) __________________ acknowledge payment.
Business are obliged to retain documents – known as (12) __________________ - that
support or prove an item in an account, and make them available to the internal and
external auditors who check the accounts. Bookkeepers are not to be confused with
librarians, who also keep books, or with bookmakers, who “make books” in the sense
that they accept bets (on horse races, etc.) and traditionally wrote them down in a book
like a bookkeeper’s journal. Accountants, unlike bookkeepers, analyze financial records,
and decide how to present them.

F. Khoanh tròn lựa chọn từ vựng phù hợp nhất với giải nghĩa.
1. The recording of debit and credit parts of a transaction.
a. sales invoice c. journalizing
b. source document d. double-entry accounting
2. Information for each transaction recorded in a journal.
a. invoice b. check c. journal d. entry
3. A business form giving written acknowledgment for cash received.
a. check b. receipt c. invoice d. entry
4. A business form ordering a bank to pay cash from a bank account.
a. invoice b. entry c. check d. receipt
5. A form on which a brief message is written describing a transaction.


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a. entry b. journal c. invoice d. memorandum
6. A business paper from which information is obtained for a journal entry.
a. memorandum b. journalizing c. source document d. receipt
7. All-purpose journal for recording the debits and credits of transactions and
events.
a. trial balance b. journal c. general journal d. T-account
8. A journal with two amount columns in which all kinds of entries can be recorded.
a. general journal b. source document c. memorandum d. journal
9. A form for recording transactions in chronological order.
a. journal b. entry c. receipt d. journalizing
10. Journal entry that affects at least three accounts.
a. general journal c. compound journal entry
b. journalizing d. account balance
11. Tool used to show the effects of transactions and events on individual accounts.
a. T-account b. account c. journal d. debtors
12. Process of transferring journal entry information to the ledger; computerized
systems automate this process.
a. posting b. account c. debtors d. credit
13. List of accounts and their balances at a point in time; total debit balances equal
total credit balances.
a. trial balance b. account balance c. dividends d. T-account
14. Account with debit and credit columns for recording entries and another column
for showing the balance of the account after each entry.
a. source documents c. T-account
b. chart of accounts d. balance column account
15. A column in journals in which individual ledger account numbers are entered
when entries are posted to those ledger accounts.
a. balance column account c. source documents
b. posting d. posting reference (PR)
G. Lựa chọn phương án đúng nhất để hoàn thành hoặc trả lời các câu sau.
1. If a transaction is properly analyzed and recorded, _________
a. only two accounts will be used to record the transaction.
b. one account balance will increase and another will decrease.
c. one asset account will be debited and one liability account will be credited.
d. the total amount debited will equal the total amount credited.
2. When an entry is made in the general journal, __________
a. assets should be listed first.

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b. accounts to be debited should be listed first.
c. accounts to be increased should be listed first.
d. accounts may be listed in any order.
3. When an entry is made in the general journal, ___________
a. the accounts to be credited should be indented.
b. the first account entered should be indented.
c. liability, capital, and revenue accounts should be indented.
d. asset accounts should be indented.
4. A sales invoice is a source document that ________________
a. provides support for goods purchased for resale.
b. provides evidence of incurred operating expenses.
c. provides evidence of credit sales.
d. serves only as a customer receipt.
5. If an amount is recorded on the side of a T account opposite the normal balance
side, the account balance is ___________.
a. increased b. decreased c. unaffected d. correct
6. When the owner invests cash in a business, the owner's capital account is ____.
a. increased by a debit c. decreased by a debit
b. increased by a credit d. decreased by a credit
7. When a business buys an asset on one date and agrees to pay on a later date, the
transaction is ______________.
a. delayed c. on account
b. increased d. none of the above
8. If total liabilities are $60,000, total assets are $180,000, and contributed capital is
$100,000, then retained earnings would be:
a. $20,000 b. $80,000 c. $120,000 d. $160,000
9. Which of the following are the elements of owners’ equity?
a. Assets, liabilities, revenues and expenses
b. Owner investments, withdrawals, revenues and expenses.
c. Assets, liabilities, owner investments and withdrawals.
d. Revenues, expenses and withdrawals.
10. The journal entry to record the sale of services on account should include_____
a. a debit to Accounts Receivable and a credit to Capital.
b. a debit to Cash and a credit to Accounts Receivable.
c. a debit to Fees Income and a credit to Accounts Receivable.
d. a debit to Accounts Receivable and a credit to Fees Income.
11. The journal entry to record the sale of goods on credit is _________.

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a. Cash
Sales
b. Cash
Service Revenue
c. Accounts Receivable
Service Revenue
d. Accounts Receivable
Sales
12. Unearned revenues are _________________________
a. received and recorded as liabilities before they are earned.
b. earned and recorded as liabilities before they are received.
c. earned but not yet received or recorded.
d. earned and already received and recorded.
13. The purchase of supplies for cash would result in which of the following?
a. A debit to cash. c. A credit to accounts payable.
b. A credit to supplies. d. None of the above is true.
14. Owner withdrawals do not represent an expense because _______________
a. cash is used as an investment.
b. cash decreases and service revenue increases.
c. cash is used for the owner’s personal transactions.
d. cash decreases and owners’ equity increases.
15. Sales revenues are usually considered earned when ____________________
a. cash is received from credit sales.
b. an order is received.
c. goods have been transferred from the seller to the buyer.
d. adjusting entries are made.
16. The journal entry to record the payment of salaries should include __________
a. a debit to Salaries Expense, and a credit to Cash.
b. a debit to Capital and a credit to Cash.
c. a debit to Cash and a credit to Salaries Expense.
d. a debit Salaries Expense and a credit to Accounts Payable.
17. A company shows a balance in Salaries Payable of $40,000 at the end of the
month. The next payroll amounting to $50,000 is to be paid in the following
month. What will be the journal entry to record the payment of salaries?
a. Salaries Expense.................................................................. 50,000
Salaries Payable ........................................................ 50,000
b. Salaries Expense ................................................................. 50,000

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Cash .......................................................................... 50,000
c. Salaries Expense ................................................................. 10,000
Cash .......................................................................... 10,000
d. Salaries Expense.................................................................. 10,000
Salaries Payable .................................................................. 40,000
Cash .......................................................................... 50,000
18. The journal entry to record the payment of a monthly utility bill would include ____
a. a debit to Utilities Expense and a credit to Capital.
b. a debit to Capital and a credit to Cash.
c. a debit to Utilities Expense and a credit to Cash.
d. a debit to Utilities Expense and a credit to Accounts Payable.
19. In the transaction, RECORDED CASH SALES FOR THE MONTH, you should
____________
a. debit Cash and credit Merchandise.
b. debit Cash and credit Sales and Sales Tax Payable.
c. debit Cash and credit Accounts Receivable.
d. debit Cash and credit Accounts Payable.
20. In the transaction, RECEIVED PAYMENT ON ACCOUNT FROM SMITH
ELECTRONICS, you should ______________________
a. debit Accounts Payable/Smith Electronics and credit Cash.
b. debit Cash and credit Accounts Payable/Smith Electronics.
c. debit Cash and credit Accounts Receivable/Smith Electronics.
d. debit Accounts Receivable/Smith Electronics and credit Cash.
21. Which of the statements below is NOT true?
a. An adjusted trial balance should show ledger account balances.
b. An adjusted trial balance can be used to prepare financial statements.
c. An adjusted trial balance proves the mathematical equality of debits and
credits in the ledger.
d. An adjusted trial balance is prepared before all transactions have been
journalized.
22. Accounts often need to be adjusted because ______________________
a. there are never enough accounts to record all the transactions.
b. many transactions affect more than one time period.
c. there are always errors made in recording transactions.
d. management can't decide what they want to report.
23. Adjusting entries are __________________
a. not necessary if the accounting system is operating properly.

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b. usually required before financial statements are prepared.
c. made whenever management desires to change an account balance.
d. made to balance sheet accounts only.
24. Adjusting entries are required ____________________
a. because some costs expire with the passage of time and have not yet been
journalized.
b. when the company's profits are below the budget.
c. when expenses are recorded in the period in which they are earned.
d. when revenues are recorded in the period in which they are earned.
25. Closing entries are journalized and posted ______________________
a. before the financial statements are prepared.
b. after the financial statements are prepared.
c. at management's discretion.
d. at the end of each interim accounting period.




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CHƯƠNG 4: FINANCIAL STATEMENTS




“There are far many more assets in your company than those that come up on
the financial statement. Managing a company successfully involves more than
just managing the stuff on the balance sheet.”
~ Tamara MacDuff

MỞ ĐẦU

Hãy liệt kê các loại báo cáo tài chính mà bạn biết.

Balance Sheet
Balance Sheet
Statement of Financial position
Statement of Financial position




Financial statements


Profit and Loss Account
Profit and Loss Account
Income statement
Income statement




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TỪ VỰNG 1

Match an accounting term on the right with its meaning on the left.

Statement that summarizes Chart of accounts
revenues and expenses

Statement of a business’ assets, Income statement
liabilities and owner’s equity

Amount a business's revenues Balance sheet
exceed (greater than) expenses

A coded listing of all the accounts Posting
in the general ledger

Process of transferring journal Capital statement
balances to the general ledger

A financial report summarizing all Profit
the changes in owner's equity


THẢO LUẬN


Work with a partner and discuss the following topics:
1. The purposes of preparing a balance sheet.
2. The purposes of preparing an income statement.

ĐỌC HIỂU

THE BALANCE SHEET
Financial statements are the final product of the accounting process. They
provide information on the financial condition of a company. The balance sheet, one
type of financial statement, provides a summary of what a company owns and what it
owes on one particular day.
Assets represent everything of value that is owned by a business, such as property,
equipment, and accounts receivable. On the other hand, liabilities are the debts that a
company owes – for example, to supplier and banks. If liabilities are subtracted from assets

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(assets – liabilities), the amount remaining is the owners’ share of a business. This is known
as owners’ or stockholders’ equity.
One key to understand the accounting transactions of a business is to understand the
relationship of its assets, liabilities, and owners’ equity. This is often represented by the
fundamental accounting equation: assets equal liabilities plus owners’ equity.
Assets = Liabilities + Owners’ Equity (Shareholders’ Equity)
These three factors are expressed in monetary terms and therefore are limited to
items that can be given a monetary value. The accounting equation always remains in
balance; in other words, one side must equal the other.
The balance sheet expands the accounting equation by providing more information
about assets, liabilities, and owner’s equity of a company at a specific time (for example, on
December 31, 2009). It is made up of two parts. The first part lists the company assets, and
the second part details liabilities and owners’ equity. Assets are divided into current and
fixed assets. Cash, accounts receivable and inventories are all current assets. Property,




building, and equipment make up the fixed assets of a company. The liabilities section of
the balance sheet is often divided into current liabilities (such as accounts payable, and
income taxes payable) and long-term liabilities (such as bonds and long-term notes).
The balance sheet provides a financial picture of a company on a particular date, and
for this reason, it is useful in two important areas. Internally, the balance sheet provides
managers with financial information for company decision-making. Externally, it gives
potential investors data for evaluating the company’s financial position.


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A. Đọc bài khóa và trả lời các câu hỏi sau.
1. What is the final product of the accounting process?
2. Does the balance sheet provide financial information for a long period?
3. What is the difference between assets and liabilities?
4. How is owners’ or stockholders’ equity determined?
5. How can the relationship between assets, liabilities, and owners’ equity be
represented?
6. Does the accounting equation always remain in balance? Why or why not?
B. Dùng các từ trong khung hoàn thành Bảng cân đối kế toán sau.
▪ assets ▪ current liabilities ▪ current assets
▪ stockholders’ equity
▪ liabilities ▪ long-term liabilities ▪ fixed assets




INCOME STATEMENT
An Income Statement presents a company's revenues and expenses for a given
accounting period, e.g., a month, quarter, or year. Also called a Statement of Earnings
or a Statement of Operations, the income statement compares a company's revenues
with its expenses during a specific period.
Although income statements measure revenues, expenses, etc. in terms of dollars,
these figures do not necessarily correspond to specific amounts of cash a company has. For


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example, a company most likely does not have the amount of cash corresponding to its net
income on an income statement. Instead, this figure represents both the actual cash the
company has received as well as promises from customers and clients to pay the company
for products and services purchased on credit. Nevertheless, companies record revenues
when they earn them and expenses when they incur them, not when they actually receive
cash. This practice is referred to as the accrual basis of accounting.




The Financial Accounting Standards Board (FASB) establishes the definitions of
key elements of the income statement, such as revenues, expenses, gains, and losses.
Revenues (sales) refer to the total amount of money a business earns by selling its
products or by providing its services during a specific period. Revenues also include
money earned from dividends, and interest. Expenses refer to the total costs a company
incurs for doing business in a specific period, such as the cost of materials, supplies,
labor, leases, and utilities. In addition, expenses must directly relate to generating
revenues for a company. Materials and utilities are obvious expenses, because a
company needs both materials and utilities to manufacture and sell products.



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Gains are increases in the excess of what a company owns over what it owes
(owners' equity) from peripheral or incidental transactions of a business entity and from
all other transactions and events affecting the company during the accounting period,
except those that result from revenues or investments by owners. Examples are a gain on
the sale of a building and a gain on the early retirement of long-term debt. Losses are
decreases in owners' equity from peripheral or incidental transactions of a business
entity and from all other transactions and events affecting the entity during the
accounting period, except those that result from expenses or distributions to owners.
Examples are losses on the sale of investments and losses from litigation.
Net income, or the "bottom line," is the excess of all revenues and gains for a
designated period over all expenses and losses of that period. Conversely, net loss is the
excess of expenses and losses over revenues and gains for a designated period.
The income statement can be prepared using either the single-step or the
multiple-step format. The single-step format lists and totals all revenue and gain items
at the beginning of the statement. All expense and loss items follow the revenue and
gain items. Finally, the total expenses and losses are deducted from the total revenues
and gains, yielding the net income. A sample income statement in the single-step format
would look like this:




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The multiple-step income statement, on the other hand, presents operating
revenue at the beginning of the statement and non-operating gains, expenses, and losses
near the end of the statement. Various items of expenses, however, are deducted
throughout the statement at intermediate levels, providing useful subtotals along the
way. The statement is arranged to show explicitly several important amounts, such as
gross margin on sales, operating income, income before taxes, and net income. At the
first step, the cost of products sold is deducted from the net revenues. At the second step,
operating expenses are deducted. At the final step, non-operating revenues are added
and non-operating expenses are subtracted resulting in the net income.
Each format of the income statement has its advantages. The advantage of the
multiple-step income statement is that it explicitly displays important financial and
managerial information that the user would have to calculate from a single-step income
statement. The single-step format has the advantage of being relatively simple to prepare
and to understand. Here is a sample income statement in the multiple-step format:




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Xác định các câu sau có phù hợp với nội dung bài đọc hay không. Ghi
TRUE nếu nội dung câu đó phù hợp với nội dung bài đọc, ngược lại ghi
FALSE.
1. Income statement shows the revenues and the expenses of a company during
an accounting period.
2. The accounts included in the income statement must reflect the amounts of
actual cash the company has received.
3. Dividends and interest cannot be added to revenue account.
4. Regardless of directly relating to generating the company’s revenues, all
expenses must be included in the income statement.
5. A gain on the sale of a building and a gain on the early retirement of long-
term debt during the accounting period must be included in the income
statement.
6. Losses resulting from expenses or distributions to owners are shown on the
income statement.
7. The bottom line shows the net income of the company at the end of the
accounting period.
8. The multi-step income statement segregates the operating revenues and
operating expenses from the non-operating revenues, non-operating
expenses, gains, and losses.

TỪ VỰNG 2

A. Xem lại Bảng cân đối kế toán và hoàn thành những chỗ trống sau.
Class: Assets Class: Liabilities
Members: current assets Members:


Class: current assets Class:
Members: Members: accounts payable



Class: Class: long-term liabilities
Members: Members:

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B. Gạch đi những mục không thuộc tài sản cố định.
office supplies machinery land
marketable securities buildings inventories
cash plant equipment
C. Các khoản nợ phải trả sau đây là dài hạn hay ngắn hạn?
short-term notes payable accounts payable mortgage
long-term notes payable bonds payable taxes payable
CURRENT LIABILITIES LONG-TERM LIABILITIES




D. Hoàn thành các câu sau.
1. The statement that shows net income for a period is known as the
__________ statement.
2. The statement that shows net loss for a period is known as the __________
statement.
3. Another term for the income statement is the ___________ ________
__________ account.
4. Two groups of items that make up the income statement are ___________
and ____________.
5. Withdrawal of money by the owner is not an expense but a reduction of
_________________
6. To show the change in the capital of a business, the _____________
statement is used.
TRỌNG TÂM NGỮ PHÁP

CÂU VÀ MỆNH ĐỀ
THÀNH PHẦN TRONG CÂU
A sentence has both a subject and a predicate and expresses a complete thought.
Conventionally, a sentence begins with a capital letter and ends with a period, a question
mark, or an exclamation mark.

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Example: The FDI flow into Vietnam is increasing remarkably.


SUBJECT PREDICATE
CHỦ NGỮ - THE SUBECT
The part of the sentence that names the person, thing, or idea is called the subject.
The complete subject consists of the person, thing, or idea and all of its modifiers, such
as adjectives and adverbs.
An individual uses credit cards or charge accounts for items such as clothing or food.
The most common example of nonphysical investment is investment in human
capital.
The industrial base of the United States in the nineteenth century - railroads,
factories, and so on - was built on foreign finance, especially from Britain.
We have had problems with our main distributor.
VỊ NGỮ - THE PREDICATE
The part of the sentence that contains the verb that explains something about the
subject is called the predicate. The complete predicate consists of the verb and all of its
modifiers.
The newspaper article mentioned our newest menu item.
Mrs. Dawson is our most difficult customer.
Investment fluctuates a lot.
Moreover, the government also invests.
MỆNH ĐỀ - CLAUSES
Like sentences, clauses are groups of words that have a subject and a predicate.
Clauses are either independent or dependent.
Mệnh đề độc lập - Independent Clauses
Independent clauses are groups of words in a sentence that can stand alone,
because they express a complete thought. The simple sentence consists of one
independent clause.
Companies need cash in order to grow and expand their businesses.




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Sometimes, more than one independent clause is included in the same sentence,
which is known as a compound sentence. When this happens, the clauses are separated
by a comma and a conjunction, or joining word (for, and, nor, but, or, yet, so).
You deposit money into your bank, and the bank loans that money to consumers
and companies in need of capital (cash).
A company may get a loan from a bank, or it may ask an investment bank to sell
equity or debt (stocks or bonds).
Several companies rate credit, but Standard & Poor's and Moody's are the two
largest.
Mệnh đề phụ thuộc - Dependent Clauses
Dependent clauses, also known as subordinate clauses, are groups of words in a
sentence that have a subject and predicate but cannot stand alone because they do not
express a complete thought. They are dependent on independent clauses.
When a bond is actually downgraded by Moody's or S&P.
Sometimes, sentences are made up of one independent clause and one or more
dependent clauses. These are known as complex sentences.
When a bond is actually downgraded by Moody's or S&P, the bond's price drops
dramatically.

BÀI TẬP ĐỀ NGHỊ


A. Điền dấu √ vào các cột phù hợp để xác định nhóm tài khoản phù hợp cho
mỗi tài khoản.
Income statement Balance sheet
Income Expense Asset Liability Capital
Accounts payable
Accounts receivable
Building
Capital
Equipment
Fees income
General expense
Interest expense
Interest income
Land
Notes payable
Rent expense

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Rent income
Salaries expense
Supplies
Supplies expense
Tax expense
Prepaid insurance
Marketable securities
B. Đọc bảng cân đối kế toán và trả lời các câu hỏi.




1. What is the long-term debt for Miles Laboratories, Inc.?
2. How much are the total current assets of this company? The total fixed
assets? The total assets?
3. Which current liability equals $5,613,000?


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4. Which type of assets is the highest current asset?
5. There is no total given for long-term liabilities in this balance sheet. Which
these categories should be added together to get this total?
________________________________________________________
What are the total long-term liabilities? ________________________
6. What is the accounting equation for Miles Laboratories, Inc. on December
31? (Assets = Liabilities + Owners’ Equity)
______________ = __________________ + ___________________
7. If Miles Laboratories, Inc. sells $50,000 in stock in order to raise capital for
a new warehouse, which figures in the balance sheet must be changed?
________________________________________________________
C. Sử dụng các thông tin cho sẵn để hoàn thành Bảng cân đối kế toán cho
công ty sản xuất nông nghiệp Green Farmhouse.

Green Farmhouse
Accounts Payable $ 1,700.00
Accounts Receivable $ 1,000.00
Accrued expenses $ -
Inventory $ 2,900.00
Non Current Liabilities $ 10,000.00
Land Debt $ 176,371.00
Current Portion of debt $ 9,737.00
Non Current Assets at cost $ 496,380.00
Cash $ 77,526.00
Accumulated Depreciation $ 71,870.00
Prepaid expenses $ 2,000.00
Land $ 1,500,000.00
Income Taxes Payable $ -
BASIC BALANCE SHEET
ASSETS
A
B
C
D
Current Assets A+B+C+D=E $ -

F
G
H
Non-Current Assets (F - G) + H = I $ -

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Total Assets E+I=J $ -

LIABILITIES
K
L
M
N
Current Liabilities K+L+M+N=O $ -
P
Q
Non-current Liabilities P+Q

Total Liabilities O+P+Q=R $ -

EQUITY
Owner's Equity J-R=S $ -

Total Liabilities & Equity R+S=T $ -

D. Sử dụng các thông tin cho sẵn để hoàn thành Báo cáo thu nhập cho công
ty sản xuất nông nghiệp Green Farmhouse.

Green Farmhouse
Total
Utilities $ 10,193.00
Depreciation $ 32,870.00
Non Cash Transfer out $ 48,000.00
Capital gains (losses) $ (13,364.00)
Labor $ 48,000.00
Veterinary $ 5,825.00
Sales $ 34,636.00
Inventory change (Expenses) $ 5,470.00
Interest Expense $ 18,454.00
Repairs and Maintenance $ 38,629.00
Cash Receipts $ 175,838.00
Feed $ 23,400.00
Inventory and Accounts Receivable Change $ 29,000.00




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E. Đọc phần giới thiệu ngắn về Báo cáo lưu chuyển tiền tệ và sử dụng các
thông tin cho sẵn để hoàn thành bản Báo cáo lưu thông ti ền tệ của Công
ty Agri Co. Ltd.
The statement of cash flows is one of the main financial statements. The
statement of cash flows may provide considerable information about what is really
happening in a business beyond that contained in either the income statement or the
balance sheet.
The cash flow statement is divided into three sections:
 Cash flow from operating activities: shows the results of cash inflows and
outflows related to the fundamental operations of the business. (e.g., cash
receipts from the sale of goods or services and cash outflows for purchasing
inventory and paying rent and taxes.)
 Cash flow from investing activities: associated with purchases and sales of
non-current assets (e.g., building and equipment purchases or sales of
investments or subsidiaries.)


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 Cash flow from financing activities: associated with financing the firm (e.g.,
selling and paying off bonds and issuing stock and paying dividends)




Here are some of the exceptions:
- Short-term marketable securities are treated as long-term investments and
appear in cash flow from investing activities
- Short-term debt is treated as long-term debt and appears in cash flow
from financing activities
- Although dividends are handled as a cash outflow in the cash flow from
financing activities section, interest payments are considered an operating
outflow, despite the fact that both are payments to outsiders for using
their money.
Now use data in the box to complete the Statement of Cash Flows below.

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Agri Co. Ltd.
Total
Purchases $ 28,000.00
Debt Payments $ 8,933.00
Interest Expenses $ 18,464.00
Cash Contributions $ -
Taxes $ 10,500.00
Cash Withdrawals $ -
Sales $ 34,636.00
Expenses $ 131,517.00
New Borrowings $ -
Receipts $ 175,838.00

F. Lựa chọn phương án đúng nhất để hoàn thành hoặc trả lời câu hỏi.
1. Financial reports that summarize the financial condition and operations of a
business are called ____________.
A. accounting system C. sale on account
B. liability D. financial statements
2. What basic financial statements can be found in a corporate annual report?
A. Earnings statement and statement of retained earnings


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B. Balance sheet, income statement, statement of shareholders' equity, and
statement of cash flows
C. Balance sheet, auditor's report and income statement
D. Statement of cash flows and five-year summary of key financial data
3. The financial statement that lists the entity's assets, liabilities and owner's
equity as of a specific date, usually the end of a month or a year, is called
______________________.
A. The income statement C. The cash flow statement
B. The statement of changes in equity D. The balance sheet
4. Which of the following would not be included on a balance sheet?
A. Accounts receivable C. Sales
B. Accounts payable D. Cash
5. Which of the following accounts would be classified as current assets?
A. Accounts receivable, inventory, equipment.
B. Cash, accounts receivable, accounts payable.
C. Marketable securities, inventory, goodwill.
D. Accounts receivable, inventory, marketable securities.
6. An investor wants to review the revenues and expenses of a business. The
financial statement the investor should consult is the __________.
A. Statement of changes in equity C. Cash flow statement
B. Balance sheet D. Income statement
7. What are the two basic formats of the income statement?
A. Accrual basis and multiple-step.
B. Cash basis and single-step.
C. Multiple-step and single-step.
D. Accrual basis and single-step.
8. An investor wants to review the cash inflows and cash outflows of an entity.
The financial statement the investor should consult is the ________.
A. Cash flows statement C. Balance sheet
B. Statement of changes in equity D. Income statement
9. Why is the statement of cash flows useful to the analyst?
A. It is the only source in financial statements for learning about cash
generation.
B. Focusing on net income can be misleading if a company has a healthy
profit, but cannot translate the profit into cash.
C. The statement of cash flows reveals why a company was able to generate
a profit.

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D. Both (A) and (B).
10. Dividend revenue received is reported as an operating activity, while
dividends paid is reported as a(n) _______________ activity.
A. indirect B. investing C. financing D. operating
11. Sales revenue is reported on the income statement, while cash from
customers is reported as a(n) ___________ activity.
A. indirect B. investing C. financing D. operating
12. Interest revenue from a debenture investment is reported as an operating
activity, while the purchase of the debenture investment is reported as a(n)
_____________ activity.
A. investing B. indirect C. operating D. financing
13. Cash flows from investing activities include ______________.
A. Cash payments to acquire non-current assets and investments
B. Payment of cash dividends
C. Cash receipts of interest
D. Proceeds from issue of shares and debt
14. Which of the following is a financing activity?
A. A manufacturing company purchases supplies.
B. A retail company borrows $40,000 from a bank.
C. A manufacturing company acquires a new building.
D. A service organization pays the monthly utility bill.
15. Which of the following is an investing activity?
A. A manufacturer borrows from creditors.
B. A service firm pays a return to its stockholders.
C. A retailer sells goods to a not-for-profit agency at cost.
D. A government agency purchases a new mainframe computer system.
16. Which of the following is NOT an operating activity?
A. Merchandise is sold to customers.
B. Utility bills are paid.
C. Merchandise is shipped to customers.
D. Equipment is purchased for use in manufacturing.
17. Which statement tests the accuracy of total debits and credits after
transactions have been recorded?
A. Income Statement C. Balance Sheet
B. Trial Balance D. Owner's Equity
18. The process of allocating the cost of a long-term asset to operations during
its expected useful life is known as _____________

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A. dispensing C. amortization
B. capitalizing D. accumulating the asset
19. Which item below DOES NOT describe a balance sheet?
A. Assets + Liabilities = Stockholders' Equity.
B. Assets – Liabilities = Stockholders' Equity.
C. Financial position at a point in time.
D. Assets = Liabilities + Stockholders' Equity.
20. A(n) __________ examines a company's accounting information system to
determine whether financial reports reliably represent its operations.
A. asset accounting B. leverage C. liability D. audit
G. Xác định nội dung các câu sau là Đúng hay Sai theo nghi ệp vụ kế toán.
Nếu đúng, ghi TRUE. Ngược lại, ghi FALSE.
1. Companies may choose a natural business year end, rather than December
31, as the end of their fiscal year for accounting reporting. ________
2. The balance sheet is prepared before the statement of changes in owner's
equity. ___________
3. The income statement represents the basic accounting equation. _________
4. The balance sheet reports the final balances of the permanent accounts at the
end of the fiscal period. ___________
5. Long-term investments would appear in the capital asset section of the
balance sheet. ____________
6. A net income for the period is the amount left after the expenses for the
period have been subtracted from revenue. ___________
7. Net income or net loss is the difference between total revenue and total
expenses over a specific period of time. ___________
8. Depreciation is recorded to reflect the decline in market value of plant
assets. _____________
9. Financial statements can be prepared from the information provided by an
adjusted trial balance. _____________
10. Financial statements that reflect financial data for two or more periods are
often referred to as comparative statements. _____________

H. Dùng các từ/cụm từ trong khung để hoàn thành các câu sau.
statement of changes in owner's equity net income or net loss balance sheet
ratio analysis financial statements return on sales

1. ________________________ summarize the changes resulting from
business transactions that have occurred during an accounting period.

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2. The _______________________________ is completed as a support
document for the balance sheet.
3. ________________________ is a comparison of two items on a financial
statement, resulting in a percentage that is used to evaluate the relationship
between the two items.
4. A(n) ________________________ is the financial statement that reports the
final balances in all asset, liability, and owner's equity accounts at the end of
the accounting period.
5. ________________________ is reported on the income statement.
6. ________________________ indicates what percentage of net sales
represents profit.




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