注会-会计英语讲义(3)

会计英语基础讲义

circumstances of its omission or misstatement. Deciding when an amount is material in relation to other amounts is a matter of judgment and professional expertise.

(7) Conservatism 谨慎性

Conservatism dictates that when in doubt, choose the method that will be least likely to overstate assets and income, and understate liabilities and expenses.

(8) Timeliness 及时性

Timeliness means having information available to decision makers before it loses its capacity to influence decisions. If information becomes available only after the time that a decision must be made, it has no capacity to influence that decision and thus lacks relevance.

6. Basic accounting elements 基本会计要素

(1) Asset 资产

An asset is a resource that is owned or controlled by an enterprise as a result of past transactions or events and is expected to generate economic benefits to the

enterprise.

(2) Liability 负债

A liability is a present obligation arising from past transactions or events which are expected to give rise to an outflow of economic benefits from the enterprise.

A present obligation is a duty committed by the enterprise under current

circumstances. Obligations that will result from the occurrence of future transactions or events are not present obligations and shall not be recognized as liabilities.

(3) owners’ equity 所有者权益

Owners’ equity is the residual interest in the assets of an enterprise after deducting all its liabilities.

Owners’ equity of a company is also known as shareholders’ equity.

(4) Revenue 收入

Revenue is the gross inflow of economic benefits derived from the course of ordinary activities that result in increases in equity, other than those relating to contributions from owners.

(5) Expense 费用

Expenses are the gross outflow of economic benefits resulted from the course of ordinary activities that result in decreases in owners’ equity, other than those relating to appropriations of profits to owners.

(6) Profit 利润

Profit is the operating result of an enterprise over a specific accounting period. Profit includes the net amount of revenue after deducting expenses, gains and losses directly recognized in profit of the current period, etc.

7. Five measurement attributes 会计计量属性

(1) Historical cost 历史成本

Assets are recorded at the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire them at the time of their acquisition. Liabilities are recorded at the amount of proceeds or assets received in exchange for the