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Accounting Terms & Definitions

カード 26枚 作成者: JS star (作成日: 2013/11/29)

  • Function of Accounting

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言語:

  • カード表 : 英語
  • カード裏 : 英語
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  • 1

    Function of Accounting

    補足(例文と訳など)

    答え

    • To provide information (both financial and non-financial) to users for decision making.

    解説

  • 2

    Assets

    補足(例文と訳など)

    答え

    • Assets are resources controlled by the entity as a result of past events (usually transactions), from which future economic benefits are expected to flow to the entity.

    解説

  • 3

    Expenses

    補足(例文と訳など)

    答え

    • Expenses are decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity, other than those relating to distributions to the owner.

    解説

  • 4

    Owner's Equity

    補足(例文と訳など)

    答え

    • Equity is the residual interest in the assets of a business after deducting all its liabilities.

    解説

  • 5

    Administrative Expenses

    補足(例文と訳など)

    答え

    • These expenses are related to managing and keeping the business going, e.g. office wages, rent, stationery, electricity, bad debts, discount allowed, etc.

    解説

  • 6

    Historical Cost Concept

    補足(例文と訳など)

    答え

    • Assets are recorded at the amount of cash paid or consideration given at the time of purchase/acquisition.

    解説

  • 7

    Management Accounting

    補足(例文と訳など)

    答え

    • Provides information about particular activities within a business, including budgets, costing and evaluating business activities.

    解説

  • 8

    Liabilities

    補足(例文と訳など)

    答え

    • A liability is a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.

    解説

  • 9

    Taxation Accounting

    補足(例文と訳など)

    答え

    • The provision of tax advice, taxation planning and the preparation of taxation returns.

    解説

  • 10

    Period Reporting Concept

    補足(例文と訳など)

    答え

    • Entitles present financial statements on an annual basis so as to report profit, assets, liabilities, income and expenses and enables comparisons from one year to the next.

    解説

  • 11

    The Going Concern Assumption

    補足(例文と訳など)

    答え

    • The financial statements are prepared on the assumption that the business will continue its present operations for the foreseeable future.

    解説

  • 12

    Finance Costs

    補足(例文と訳など)

    答え

    • These are expenses related to financing the business, e.g. interest on loan, interest on mortgage, interest on bank overdraft.

    解説

  • 13

    Accounting Entity

    補足(例文と訳など)

    答え

    • The economic (financial) affairs of the business are kept separate from the affairs of the owner.

    解説

  • 14

    Cash-Based Accounting

    補足(例文と訳など)

    答え

    • Transactions are reported when cash is paid or received.

    解説

  • 15

    Income

    補足(例文と訳など)

    答え

    • Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from the owner.

    解説

  • 16

    Accountant Technicians

    補足(例文と訳など)

    答え

    • Accounting Technicians are qualified and skilled in: Recording transactions, preparation of financial statements, preparation of GST, PAYE returns, etc.

    解説

  • 17

    Cost Accounting

    補足(例文と訳など)

    答え

    • Calculating the costs of production for a manufacturing business and prepared cost budgets, production planning and reports.

    解説

  • 18

    Uses of Accounting

    補足(例文と訳など)

    答え

    • • Assess the financial performance, position and cash flows of a business. • Aids in financial decision making, i.e. whether to purchase a new asset, e.g. cash register.

    解説

  • 19

    Auditing

    補足(例文と訳など)

    答え

    • The process of checking the accuracy of a business's accounting system to ensure it generates information which can be relied on by others, particularly outsiders. An auditor is an independent chartered accountant who checks the business's financial records to ensure accuracy and reliability - that they are a "true and fair view".

    解説

  • 20

    Monetary Concept

    補足(例文と訳など)

    答え

    • All transactions, i.e. assets, liabilities, expenses, incomes and equity in financial statements are recorded in NZ dollars/dollar terms.

    解説

  • 21

    Accrual Accounting Assumption

    補足(例文と訳など)

    答え

    • The effects of transactions and other events are recognized when they occur and are reported in the financial statements of the period to which they relate.

    解説

  • 22

    Financial Accounting

    補足(例文と訳など)

    答え

    • The preparation and presentation of financial reports showing business cash flow, profit/financial performance and financial position. The analysis and interpretation of financial statements to help business owners and managers make informed decisions about their business.

    解説

  • 23

    Limited Liability

    補足(例文と訳など)

    答え

    • The shareholders of the company are not personally liable for the debts of the company.

    解説

  • 24

    Chartered Accountant

    補足(例文と訳など)

    答え

    • A chartered accountant is an independent, registered accountant who provides a large range of services to businesses.

    解説

  • 25

    Distribution Costs

    補足(例文と訳など)

    答え

    • The expenses related to distributing and selling your product or service, e.g. advertising, sales wages.

    解説

  • 26

    Unlimited Liability

    補足(例文と訳など)

    答え

    • The owner/s of the business or organization are personally liable for the organization's or business debts.

    解説

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