introduction chapters
chapter 1
Welcome to the World of Accounting
goals discussion goals achievement fill in the blanks multiple choice
problems check list and key terms
GOALS
Your goals for this "welcoming" chapter are to learn about:
•The nature of financial and managerial accounting information.
•b n ch t c a thông tin k toán tài chính và k toán qu n trả ấ ủ ế ế ả ị
•The accounting profession and accounting careers.
•Ngh ki m toán và công vi c ki m toánề ể ệ ể
•The fundamental accounting equation: Assets = Liabilities + Owners' Equity.
•Công th c k toán c b n : Tài s n = N ph i tr + V n ch s h uứ ế ơ ả ả ợ ả ả ố ủ ở ữ
•How transactions impact the fundamental accounting equation.
•Nh ng giao d ch nh h ng đ n công th c k toán c b n nh th nàoữ ị ả ưở ế ứ ế ơ ả ư ế
•The four core financial statements.
•4 báo cáo tài chính c b n (nòng c t )ơ ả ố
DISCUSSION
th o lu nả ậ
ACCOUNTING INFORMATION- thông tin k toánế
You likely have a general concept of what accountants do. They capture information
about the transactions and events of a business, and summarize that activity in reports
that are used by persons interested in the entity. But, you likely do not realize the
complexity of accomplishing this task. It involves a talented blending of technical
knowledge and measurement artistry that can only be fully appreciated via extensive
study of the subject. The best analogy is to say that you probably know what a heart
surgeon does, but you no doubt appreciate that considerable knowledge and skill is
needed to successfully treat a patient. If you were studying to be a surgeon, you would
likely begin with some basic anatomy class. In this chapter, you will begin your study of
accounting by looking at the overall structure of accounting and the basic anatomy of
reporting.
B n ph i n m đ c nh ng khái ni m chung v công vi c k toán là gì. K toán ph iạ ả ắ ượ ữ ệ ề ệ ế ế ả
n m nh ng thông tin v các giao d ch và s ki n c a doanh nghi p, và t ng h pắ ữ ề ị ự ế ủ ệ ổ ợ
nh ng ho t đ ng đó trên báo cáo và đ c s d ng b i nh ng ng i quan tâm đ nữ ạ ộ ượ ử ụ ở ữ ườ ế
doanh nghi p. Nh ng b n r t khó đ nh n ra nh ng ph c t p khi th c hi n công vi cệ ư ạ ấ ể ậ ữ ứ ạ ự ệ ệ
này. Nó liên quan đ n s k t h p khéo léo gi a vi c hi u bi t v ki n th c chuyênế ự ế ợ ữ ệ ể ế ề ế ứ
môn và ngh thu t tính toán cái mà ch đ c đánh giá đ y đ thông qua nghiên c u sâuệ ậ ỉ ượ ầ ủ ứ
các v n đ . M t l p lu n t t nh t nói r ng b n có th bi t nh ng cu c ph u thu tấ ề ộ ậ ậ ố ấ ằ ạ ể ế ữ ộ ẫ ậ
tim đ c ti n hành nh th nào, nh ng b n không kh i băn khoăn đ cân nh c r ngượ ế ư ế ư ạ ỏ ể ắ ằ
nh ng k năng và ki n th c c b n c n thi t đ đi u tr cho m t ng i b nh thànhữ ỹ ế ứ ơ ả ầ ế ể ề ị ộ ườ ệ
công. N u b n đang h c đ tr thành nhà ph u thu t, b n nên b t đ u v i ki n th cế ạ ọ ể ở ẫ ậ ạ ắ ầ ớ ế ứ
c b n ph u thu t. Trong ch ng này, b n s b t đ u vi c nghiên c u ki n th c kơ ả ẫ ậ ươ ạ ẽ ắ ầ ệ ứ ế ứ ế
toán b ng cách xem xét toàn b n n t ng k toán và vi c phân tích báo cáo c b nằ ộ ề ả ế ệ ơ ả
Be advised that a true understanding of accounting does not come easily. It only comes
with determination and hard work. But, if you persevere, you will be surprised at what
you discover about accounting. Knowledge of accounting is very valuable to business
success. And, once you conquer the basics, accounting is actually quite an interesting
subject.
Đ c bi t r ng s am hi u đúng đ n v k toán không đ n m t cách d dàng. Nó chượ ế ằ ự ể ắ ề ế ế ộ ễ ỉ
đ n khi có s quy t tâm và làm vi c chăm ch . Nh ng n u b n kiên trì, b n s ng cế ự ế ệ ỉ ư ế ạ ạ ẽ ạ
nhiên v cái mà b n khám phá v k toán. Ki n th c v k toán r t có giá đ i v i sề ạ ề ế ế ứ ề ế ấ ố ớ ự
thành công c a doanh nghi p. Và khi b n chinh ph c đ c nh ng ki n th c c b n,ủ ệ ạ ụ ượ ữ ế ứ ơ ả
k toán th c s là m t môn h c r t thú vế ự ự ộ ọ ấ ị
NEW WORDS – VOCABULARY
Capture /Keptr / : n m đ c, giành đ c, chi m đ cơ ắ ượ ượ ế ượ
Complexity /K mplekxity/ : s ph c t pơ ự ứ ạ
Accomplish / komplish/ hoàn thành, đ t t i m c đích gìơ ạ ớ ụ
Blending / k t h p , tr n l nế ợ ộ ẫ
Analogy/ nen gy/ s l p lu nơ ơ ự ậ ậ
Surgeon /s z n/ bác sĩ ph u thu tơ ờ ẫ ậ
Determination / s quy t tâmự ế
Persevere / p sivia/ +with, at : b n chí, kiên trìơ ề
Conquer /KongK r/ : (v) chinh ph c, chơ ụ ế ngự
ACCOUNTING DEFINED: It seems fitting to begin with a more formal definition of
accounting: Accounting is a set of concepts and techniques that are used to measure and
report financial information about an economic unit. The economic unit is generally
considered to be a separate enterprise. The information is potentially reported to a
variety of different types of interested parties. These include business managers, owners,
creditors, governmental units, financial analysts, and even employees. In one way or
another, these users of accounting information tend to be concerned about their own
interests in the entity. Business managers need accounting information to make sound
leadership decisions. Investors hold out hope for profits that may eventually lead to
distributions from the business (e.g., "dividends"). Creditors are always concerned about
the entity's ability to repay its obligations. Governmental units need information to tax
and regulate. Analysts use accounting data to form their opinions on which they base
their investment recommendations. Employees want to work for successful companies to
further their individual careers, and they often have bonuses or options tied to enterprise
performance. Accounting information about specific entities helps satisfy the needs of all
these interested parties.
Đ NH NGHĨA K TOÁNỊ Ế
Có v nh phù h p đ b t đ u v i nh ng đ nh nghĩa thông th ng h n v k toán.ẻ ư ợ ể ắ ầ ớ ữ ị ườ ơ ề ế
K toán là hàng lo t nh ng khái ni m và k thu t đ c s d ng đ tính toán và báoế ạ ữ ệ ỹ ậ ượ ử ụ ể
cáo thông tin tài chính v m t đ n v kinh t . Đ n v kinh t th ng đ c xem là m tề ộ ơ ị ế ơ ị ế ườ ượ ộ
th c th riêng bi t. Nh ng thông tin đ c báo cáo m t cách d hi u b ng nhi u cáchự ể ệ ữ ượ ộ ễ ể ằ ề
khác nhau đ n các bên liên quan. Nh ng ng i này bao g m nhà qu n lý doanh nghi p,ế ữ ườ ồ ả ệ
ch n , đ n v qu n lý, nhà phân tích và th m chí là ng i lao đ ng. B ng cách nàyủ ợ ơ ị ả ậ ườ ộ ằ
hay cách khác, nh ng ng i s d ng thông tin k toán có xu h ng quan tâm đ n l iữ ườ ử ụ ế ướ ế ợ
ích c a riêng h trong doanh nghi p. Nhà qu n lý doanh nghi p c n thông tin k toánủ ọ ệ ả ệ ầ ế
đ đ a ra quy t đ nh ch đ o đúng đ n. Nhà đ u t tìm ki m hi v ng l i nhu n cái màể ư ế ị ỉ ạ ắ ầ ư ế ọ ợ ậ
r t c c đ c phân ph i t doanh nghi p (l i t c). Ch n cũng luôn luôn quan tâmố ụ ượ ố ừ ệ ợ ứ ủ ợ
đ n kh năng thanh toán nh ng kho n n c a doanh nghi p. Nhà phân tích cũng sế ả ữ ả ợ ủ ệ ử
d ng nh ng tài li u k toán đ hình thành quan đi m c a h v nh ng v n đ màụ ữ ệ ế ể ể ủ ọ ề ữ ấ ề
m i ng i s làm căn c g i ý cho s đ u t c a h . Ng i lao đ ng làm viêc choọ ườ ẽ ứ ợ ự ầ ư ủ ọ ườ ộ
nh ng công ty thành công đ s nghi p cá nhân c a h phát tri n h n, và h th ngữ ể ự ệ ủ ọ ể ơ ọ ườ
có kho n ti n th ng ho c nh ng s l a ch n b ràng bu c b i công vi c c a doanhả ề ưở ặ ữ ự ự ọ ị ộ ở ệ ủ
nghi p. Thông tin k toán v nh ng đ n v c th s giúp tho mãn nhu c u c a t tệ ế ề ữ ơ ị ụ ể ẽ ả ầ ủ ấ
c các bên có liên quanả
The diversity of interested parties leads to a logical division in the discipline of
accounting: financial accounting and managerial accounting. Financial accounting is
concerned with external reporting of information to parties outside the firm. In contrast,
managerial accounting is primarily concerned with providing information for internal
management. You may have some trouble seeing why a distinction is needed; after all
aren't we just reporting financial facts? Let's look closer at the distinctions.
S đa d ng c a các bên liên quan d n đ n s phân chia h p lý trong lĩnh v c k toán :ự ạ ủ ẫ ế ự ợ ự ế
k toán tài chính và k toán qu n tr . K toán tài chính liên quan đ n vi c báo cáo cácế ế ả ị ế ế ệ
thông tin cho các đ i t ng bên ngoài doanh nghi p; Ng c l i k toán qu n tr chố ượ ệ ượ ạ ế ả ị ủ
y u liên quan đ vi c cung c p thông tin cho vi c qu n lý c a đ n v . B n có th cóế ế ệ ấ ệ ả ủ ơ ị ạ ể
m t s băn khoăn t i sao s phân bi t này là c n thi t. Cu i cùng ch ng ph i là chúngộ ố ạ ự ệ ầ ế ố ẳ ả
ta ch báo cáo tình hình tài chính? Hãy xem xét c n th n h n s phân bi t này.ỉ ẩ ậ ơ ự ệ
FINANCIAL ACCOUNTING: Consider that financial accounting is targeted toward a
broad base of external users, none of whom control the actual preparation of reports or
have access to underlying details. Their ability to understand and have confidence in
reports is directly dependent upon standardization of the principles and practices that are
used to prepare the reports. Without such standardization, reports of
different companies could be hard to understand and even harder to
compare. As a result, there are well organized processes to bring
consistency and structure to financial reporting. In the United States, a private sector
group called the Financial Accounting Standards Board (FASB) is primarily responsible
for developing the rules that form the foundation of financial reporting. With the
increase in global trade, the International Accounting Standards Board (IASB) has been
steadily gaining prominence as a global accounting rule setter.
K toán tài chính : Xem xét r ng k toán tài chính v i m c đích là h ng t i m t sế ằ ế ớ ụ ướ ớ ộ ố
l n nh ng đ i t ng bên ngoài., không ai ki m soát đ c vi c l p báo cáo th c tớ ữ ố ượ ể ượ ệ ậ ự ế
ho c có c h i đ bi t đ c chi ti t. Kh năng hi u và có s tin c y v nh ng báoặ ơ ộ ể ế ượ ế ả ể ự ậ ề ữ
cáo ph thu c tr c ti p vào s chu n hoá các nguyên t c và tình hình th c t cái màụ ộ ự ế ự ẩ ắ ự ế
đ c s d ng đ l p báo cáo. N u không có s tiêu chu n hoá, báo cáo c a các côngượ ử ụ ể ậ ế ự ẩ ủ
ty khác nhau r t khó đ hi u và th m chí khó h n đ so sánh. ấ ể ể ậ ơ ể
Financial reports prepared under the generally accepted accounting principles (GAAP)
promulgated by such standard setting bodies are intended to be general purpose in
orientation. This means they are not prepared especially for owners, or creditors, or any
other particular user group. Instead, they are intended to be equally useful for all user
groups. As such, attempts are made to keep them free from bias (neutral).
MANAGERIAL ACCOUNTING: In sharp contrast to financial accounting, managerial
accounting information is intended to serve the specific needs of management. Business
managers are charged with business planning, controlling, and decision making. As such,
they may desire specialized reports, budgets, product costing data, and other details that
are generally not reported on an external basis. Further, management may dictate the
parameters under which such information is to be accumulated and presented. For
instance, GAAP may require that certain research costs be deducted immediately in
computing a business's externally reported income; on the other hand, management may
see these costs as a long-term investment and stipulate that internal decision making be
based upon income numbers that exclude such costs. This is their prerogative.
Hopefully, such internal reporting is being done logically and rationally, but it need not
follow any particular set of guidelines.
A QUALITY INFORMATION SYSTEM: Both financial accounting and managerial
accounting depend upon a strong information system to reliably capture and summarize
business transaction data. Information technology has radically reshaped this mundane
part of the practice of accounting during the past 30 years. The era of the "green eye-
shaded" accountant has been relegated to the annals of history. Now, accounting is more
of a dynamic, decision-making discipline, rather than a bookkeeping task.
INHERENT LIMITATIONS: Accounting data is not absolute or concrete. Considerable
amounts of judgment and estimation are necessary to develop the specific accounting
measurements that are reported during a particular month, quarter, or year (e.g., how
much pension expense should be reported now for the future benefits that are being
earned by employees now, but the amounts will not be known with certainly until many
years to come?). About the only way around the problem of utilizing estimation in
accounting is to wait until all facts are known with certainty before issuing any reports.
However, by the time any information could be reported, it would be so stale as to lose its
usefulness. Thus, in order to timely present information, it is considered to be far better
to embrace reasonable estimations in the normal preparation of ongoing financial reports.
In addition, accounting has not yet advanced to a state of being able to value a business
(or a business's assets). As such, many transactions and events are reported based upon
the historical cost principle (in contrast to fair value). This principle holds that it is better
to maintain accountability over certain financial statement elements at amounts that are
objective and verifiable, rather than opening the door to random adjustments for value
changes that may not be supportable. For example, land is initially recorded in the
accounting records at its purchase price. That historical cost will not be adjusted even if
the fair value is perceived as increasing. While this enhances the "reliability" of reported
data, it can also pose a limitation on its "relevance."
THE ACCOUNTING PROFESSION AND CAREERS
THE ACCOUNTING PROFESSION: To decide to be an accountant is
no more descriptive than deciding to be a doctor. Obviously, there are
many specialty areas. Many accountants engage in the practice of
"public" accounting, which involves providing audit, tax, and
consulting services to the general public. To engage in the practice of
public accounting usually requires one to be licensed as a CPA
(Certified Public Accountant). Auditing involves the examination of
transactions and systems that underlie an organization's financial
reports, with the ultimate goal of providing an independent report on the
appropriateness of financial statements. Tax services relate to the
providing of help in the preparation and filing of tax returns and the rendering of advice
on the tax consequences of alternative actions. Consulting services can vary
dramatically, and include such diverse activities as information systems engineering to
evaluating production methods. Many accountants are privately employed directly by
small and large businesses (i.e., "industry accounting") and not-for-profit agencies (such
as hospitals, universities, and charitable groups). They may work in areas of product
costing and pricing, budgeting, and the examination of investment alternatives. They
may focus on internal auditing, which involves looking at controls and procedures in use
by their employers. Objectives of these reviews are to safeguard company resources and
assess the reliability and accuracy of accounting information and accounting systems.
They may serve as in-house tax accountants, financial managers, or countless other
occupations. And, it probably goes without saying that many accountants work in the
governmental sector, whether it be local, state, or national levels. You would expect to
find many accountants at the Internal Revenue Service, General Accounting Office,
Securities and Exchange Commission ("SEC" -- the USA governmental agency charged
with regulating accounting and reporting by companies whose shares of stock is bought
and sold in public markets), and even the Federal Bureau of Investigation.