Học kế toán tai chinh căn bản bằng tiếng anh

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Học kế toán tai chinh căn bản bằng tiếng anh

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Final Accounts is the last step in the accounting process. Trial Balance(bảng cân đối tài khoản) is prepared at the end of all the accounting year to know the balances of all the accounts to test the arithmetic accuracy(tính chính xác) of accounts. But the basic objective of accounting is to know about the profit or loss during the previous year present financial position(tình hình tài chính hiện tại). This can be known only if Trading account (tài khoản thương mại)and Profit Loss account and Balance Sheet are prepared at the end pf year. These are also known as FINANCIAL STSTEMENTS(bản tường trình) which are prepared.

, FINAL ACCOUNTS • Final Accounts is the last step in the accounting process Trial Balance(bảng cân đối tài khoản) is prepared at the end of all the accounting year to know the balances of all the accounts & to test the arithmetic accuracy(tính chính xác) of accounts But the basic objective of accounting is to know about the profit or loss during the previous year & present financial position(tình hình tài chính hiện tại) This can be known only if Trading account (tài khoản thương mại)and Profit & Loss account and Balance Sheet are prepared at the end pf year These are also known as FINANCIAL STSTEMENTS(bản tường trình) which are prepared From Trial Balance Final Accounts include the preparation of : 1) Trading and Profit & Loss account (tài khoản thương mai và tài khoản lợi nhuận)and 2) Balance Sheet (báo cáo kết quả kinh doanh) as these two statements(bản tường trình) are prepared to give the final results of the business, both of these are collectively called as final accounts Accounting cycle finally ends with these statements as shown in next slide: ACCOUNTING CYCLE TRANSACTIONS Preparation of final accounts (summary) Preparation of Trial Balance (CHECKING THE ACCURACY) Entry in the books of Original Entry (ORIGINAL RECORD) Posting in the concerned Ledger account (CLASSIFICATION) Balancing of Real & Personal accounts Types of Financial Statement(các loaị cuả ban ̉ tường trình tài chính) Final accounts or financial statements can be divided in two parts:- 1) Trading and Profit & Loss Account(tài khoản lợi nhuận) 2) Balance Sheet (bảng cân đối) Trading Account(tài khoan ̉ trao đôi) ̉ Trading account is prepared by trading concerns i.e., concerns which purchase and sell finished goods, to know the gross profit or gross loss incurred(nợ phai gánh chịu) by them from buying and selling of goods during a particular period (khoảng nào đó)of time Gross profit or gross loss is the difference between the cost of goods sold and the proceeds(tiền) of their sale If the sale proceeds exceed (vượt quá)the cost of goods sold , gross profit is made Otherwise,(nếu không thì)gross loss is made Ascertainment (sự chứng minh)of Cost of Goods Sold Opening Stock Add: Purchases Less: Purchase Return ……… …… …… ……… Goods Available for Sales ……… Add: Direct Expenses ……… Less: Closing Stock ……… Cost of Goods Sold ……… Specimen Proforma of Trading Account Dr Trading Account of …… For the year ending…… Cr Particulars Amt Particulars Amt To Opening Stock(tá i đầ u t ừ ) To Purchases Less: Returns To Direct Expenses: Carriage Inward Wages Wages & salaries Fuel & power By Sales Less: Returns By Closing Stock(hà ng tồ n kho) By Gross Loss c/d* Import Duty(thuế xuấ t nhâp ̣ khâu) ̉ Custom Duty(thuế haỉ quan) Excise Duty(thuế tiêu thu)̣ Consumable Store Factory Rent, Rates, and Taxes Foreman/ Works Manager’s Salary Royalty on manufactured goods To Gross Profit c/d* Profit & Loss Account For non-corporate business organisation Profit & Loss account is second part of income statement(báo cáo thu nhập) It is prepared to know the net loss of business during a particular period Every businessman has to spend on expenses other than on manufacture or purchase of goods which are called indirect expenses(chi phí gián tiếp) There can be other incomes except sales So gross profit or loss is adjusted keeping in view these indirect expenses(chi phí gián tiếp) and other incomes to find out net profit or net loss DEFERRED REVENUE EXPENDITURE (chi phí thu nhập hoãn lại) The expenditure done in initial stage but the benefit of which will also be available in subsequent years is called deferred revenue expenditure Treatment: Profit &loss A/c To advertisement A/c The two fold effect will be: 1.It is show on the debit side of Profit &loss A/c 2.Shown on assets side by way of deduction from capitalised expenditure.(tài sản) LOSS OF STOCK BY FIRE (mất mát hỏa hoạn) Loss of stock may occur due to fire The position of business may be: a) b) c) All the stock is fully insured.(bảo hiểm đầy đủ) The stock is partly insured.(bảo hiểm một phần) The stock is not insured at all.(không bảo hiểm) a) IF THE STOCK IS FULLY INSURED The whole loss will be claimed from the insurance company Entry:- Insurance Co A/c Dr.(Nợ Tk Bảo hiểm) To Trading A/c(Có TK thương mại) Effect:1.It will be shown on credit side of Trading A/c.(Bên có của tài khoản thương mai) 2.It is shown on Assets Side of Balance Sheet.(tài sản) b) IF STOCK IS PARTLY INSURED The loss of stock covered by insurance policy will be claimed from the insurance company and the rest of amount will be loss for the business Entry : Insurance Co A/c Dr.(Nợ Tk bảo hiểm) Profit & Loss A/c Dr.(Nợ Tk xác định kết quả kinh doanh) To Trading A/c(có Tk giao dịch thương mại) Effect of this entry: 1.Shown on credit side of Trading A/c with the value of stock & shown on debit side of P& L A/c for that part of the stock which is not insured 2.Loss of stock Fire is shown on asset side of the Balance sheet which amount is to be realised from the insurance company c) IF STOCK IS NOT INSURED Whole loss will be borne by the firm Entry:- Profit & Loss A/c Dr To Trading A/c Effect of this entry :1.It is shown on the credit side of Trading A/c(Có Tk giao dịch thương mại) 2.It is shown on the debit side of P&L A/c(Nợ Tk xác định kết quả kinh doanh) RESERVE FUND(các quĩ dự phòng) Reserve is created out of profit & Loss A/c and thus is an appropriation of net profit for strengthening the financial position of the business Treatment : Profit & Loss A/c Dr.(Nợ TK xác định kết quả kinh doanh) To Reserve Fund A/c(Có Tk các quĩ dự phòng) Two fold effect will be: 1.It is shown on debit side of P&L A/c.(Bên nợ tài khoản xác định kết quả kinh doanh) 2.It shown on the liabilities side of Balance.(nguồn vốn) GOOD DISTRIBUTED AS FREE SAMPLES To promote the sale of goods, some of the produced goods are distributed as free samples Treatment: Advertisement A/c Dr.(Nợ chi phí quảng cáo) To Purchase A/c(Có chi phí các khoản phải chi) Two fold effect: 1.Its is deducted from purchases (giảm các khoản toán) 2.It is shown on debit side of P&L A/c(tài sản) MANAGER’S COMMISSION(ủy ban quản lý) To increase the profit, manager is given some % age of commission on profits It can be given at a certain percentage on the net profits but before charging such commission(trước nhận hoa hồng) Treatment: Profit & Loss A/c To Commission Payable After charging such commission (sau nhận hoa hồng) This commission in calculated by a formula () Commission Payable = % of commission * Residual profit(lợi nhuận còn lải) 100+Rate of Commission GOODS ON SALE OR APPROVAL BASIS Sometimes goods are sold to customers on approval basis If they approve, it will become sale If such goods are lying with customers on last day of the accounting year and these can be yet returned , it should be treated as stock lying with customers Treatment : Sales A/c Dr.(giảm doanh thu) To debtors A/c (with sales price)(giảm nợ phải thu) Stock A/c Dr (tăng hàng hóa) To trading A/c ( at cost Price of goods)(giảm giao dịch) Effects :1.Shown on the credit side of trading account by way of deduction from sales at sales price and added at closing stock at cost price 2.Shown on assets side as deduction from sundry debtors (sale price )and stock at cost on the assets side of balance sheet.(là tài sản) EXAMPLE M gives the following trial balance as on 31 st March ,2010 Dr Cr Plant &machinery- 60000 capital 50000 Fixture & fittings (for office) 2400 M’s currents A/c 2500 Sundry creditors 22300 Stock as on April 1, 2009: Raw materials Finished Goods(thành phẩm) 16300 25400 Purchases 93100 Loan at 18% from Indian Bank 20000 Wages 51300 Sales 250600 Other manufacturing expenses 16200 Sale of scrap 3600 Office expenses 18700 Sundry expenses 26000 Cash at bank 6600 Patents(bằng sáng chế) 18000 Selling expenses 15000 On 31st march ,2010 the stock of raw material was 13,300 deprecation provided by M is 15 % on Plant and Machinery and 10% on fixtures & fittings (on book value) Patents have two more years to run and concern a vital production process Manufactured goods were transferred to selling department at a value of Rs 2,00,000 The value of finished goods (at transfer price ) on hand on 31st March ,2010 was Rs.30,000; the value of the finished goods as on April 1,2009 was at cost to M Draw the Manufacturing, trading & P&L a/c for 200910 and the Balance Sheet of M as at the end of the year MANUFACTURING ,TRADING AND PROFIT AND LOSS ACOOUNT OF M for the year ending 31st March ,2010 To raw material consumed: Rs Opening stock 16,300 Add: Purchases 93,100 1,09400 Less: Closing Stock 13,300 By Trading A/c (Transfer) 96,100 To wages 51,300 To Manufacturing Expenses 16,200 To Depreciation on Plant & machinery(15% on Rs 60,000) 9,000 To Depreciation on Patents(1/3 of Rs.18,000) 6,000 Less: Sale of Scrap Cost of Goods Produced To profit transferred to P&L a/c (12.5% of Transfer Price i.e., Rs.25,000 X 100 ) Rs 2,00,000 1,78,600 3,600 1,75,000 25,000 2,00,000 To opening stock of finished Goods To value of goods manufactured transferred from manufacturing a/c To gross Profit c/d to profit & Loss A/c 25,600 By Sales By Closing Stock Of finished Goods 2,00,000 55,200 2,80,600 To office Expenses To Depreciation on fixtures & fittings To selling expenses To Interest on Loan from Indian Bank(18% on Rs 20000) To stock reserve (12.5% on Rs.30,000 Closing Stock of Finished Goods) To Net Profit Transferred to M’s Current A/c 2,50,600 30,000 2,80,000 18,700 By Gross Profit b/d 55,200 240 15,000 By Profit transferred from Manufacturing a/c 25,000 3,600 3,750 38,910 80,200 80,200 BALANCE SHEET M as on 31st March ,2010 Sundry creditors Loan at 18%from Indian Bank 20,000 Add: Interest outstanding for year @18% 3,600 M’s current Account : Balance as on 1-4-2009 2,500 Add: Net Profit 38,910 Capital 22,300 23,600 Cash at the bank Sundry debtors Closing stock of raw materials Closing stock of finished goods 30,000 Less: Reserve @12.5% to bring goods to cost value 3,750 6,600 26,000 13,300 26,250 41,410 50,000 Patents Less: written off 18,000 6,000 12,000 Furniture & fittings Less: 10% Depreciation 2,400 240 2,160 Plant & Machinery Less: 15% Depreciation 60,000 9,000 51,000 1,37,310 1,37,310 [...]... Income a/c Dr (ben nợ tà i khoan ̉ thu nhâp) ̣ To Income Received in advance(có Tk doanh thu nhân ̣ trướ c) Two fold effect: 1.Will be shown on credit side of P & L a/c by the way of deduction from particular income.(ở bên nợ cuả tà i khoan ̉ tà i san ̉ và nguồ n vố n bằ ng cá ch khấ u trừ khoỉ doanh thu đăcij biêt) ̣ 2 Will be shown on liabilities side of Balance Sheet.(bên nguô ̀... debit side of P & L a/c (thể hiên ̣ bên Nợ ) 2 2 Is shown on assets side of Balance Sheet by way of deduction from Sundry Debtors. (tai san) ̉ INTEREST ON CAPITAL (vốn đầu tư) To see whether the business is really earning profit or not ,interest on capital at a certain rate is provided Treatment : Interest on capital A/c To capital A/c TWO FOLD EFFECT : 1.It will be shown on debit side of Profit... giảm các khoản phải thu) PROVISION FOR DISCOUNT ON DEBTORS (chiết khấu bán hàng) If sales are made by the merchant on condition that if the amount of sales is paid within a certain period , he will allow a certain percentage of discount Treatment : Profit and Loss A/c( Debit Profit and loss ) To Provision for Discount on Debtors A/c(Creditor for discount on debtors) Two-fold effect will be:... 2.It is shown on the debit side of P&L A/c(Nợ Tk xác định kết quả kinh doanh) RESERVE FUND(các quĩ dự phòng) Reserve is created out of profit & Loss A/c and thus is an appropriation of net profit for strengthening the financial position of the business Treatment : Profit & Loss A/c Dr.(Nợ TK xác định kết quả kinh doanh) To Reserve Fund A/c(Có Tk các quĩ dự phòng) Two fold effect will... kết quả kinh doanh) 2.It shown on the liabilities side of Balance.(nguồn vốn) GOOD DISTRIBUTED AS FREE SAMPLES To promote the sale of goods, some of the produced goods are distributed as free samples Treatment: Advertisement A/c Dr.(Nợ chi phí quảng cáo) To Purchase A/c(Có chi phí các khoản phải chi) Two fold effect: 1.Its is deducted from purchases (giảm các khoản thanh toán) 2.It... (là tà i san) ̉ ACCRUED INCOME(cá c khoan ̉ phaỉ thu) That income which has been earned but not received during the accounting year is called accrued income Treatment: Accrued Income a/c Dr(Nọ Tk Doanh thu nhân ̣ trướ c) To Income a/c(có TK thu nhâp) ̣ Two fold effect: 1.Will be shown on credit side of P & L a/c (bên nợ cuả tà i khoan ̉ lỗ , lã i) 2 Will be shown on asset side of Balance Sheet... will be claimed from the insurance company and the rest of amount will be loss for the business Entry : Insurance Co A/c Dr.(Nợ Tk bảo hiểm) Profit & Loss A/c Dr.(Nợ Tk xác định kết quả kinh doanh) To Trading A/c(có Tk giao dịch thương mại) Effect of this entry: 1.Shown on credit side of Trading A/c with the value of stock & shown on debit side of P& L A/c for that part of the stock which... thanh toán) 2.It is shown on debit side of P&L A/c(tài sản) MANAGER’S COMMISSION(ủy ban quản lý) To increase the profit, manager is given some % age of commission on profits It can be given at a certain percentage on the net profits but before charging such commission(trước khi nhận hoa hồng) Treatment: Profit & Loss A/c To Commission Payable After charging such commission (sau khi nhận hoa hồng)

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Mục lục

  • Slide 1

  • Slide 2

  • Slide 3

  • Slide 4

  • Types of Financial Statement(các loại của bản tường trình tài chính)

  • Trading Account(tài khoản trao đổi)

  • Ascertainment (sự chứng minh)of Cost of Goods Sold

  • Specimen Proforma of Trading Account

  • Slide 9

  • Profit & Loss Account

  • Proforma of Profit & Loss Account

  • Slide 12

  • Balance Sheet

  • Slide 14

  • Slide 15

  • Slide 16

  • ADJUSTMENTS

  • Slide 18

  • Slide 19

  • Slide 20

  • Slide 21

  • Slide 22

  • Slide 23

  • INTEREST ON CAPITAL (vốn đầu tư)

  • INTEREST ON DRAWINGS (lãi suất ngân hàng)

  • PROVISION FOR DOUBTFUL DEBTS

  • PROVISION FOR DISCOUNT ON DEBTORS (chiết khấu bán hàng)

  • RESERVE FOR DISCOUNT ON CREDITORS(dự trữ cho giảm con nợ)

  • DEFERRED REVENUE EXPENDITURE (chi phí thu nhập hoãn lại)

  • LOSS OF STOCK BY FIRE (mất mát do hỏa hoạn)

  • a) IF THE STOCK IS FULLY INSURED

  • b) IF STOCK IS PARTLY INSURED

  • c) IF STOCK IS NOT INSURED

  • RESERVE FUND(các quĩ dự phòng)

  • GOOD DISTRIBUTED AS FREE SAMPLES.

  • MANAGER’S COMMISSION(ủy ban quản lý)

  • GOODS ON SALE OR APPROVAL BASIS

  • EXAMPLE

  • On 31st march ,2010 the stock of raw material was 13,300. deprecation provided by M is 15 % on Plant and Machinery and 10% on fixtures & fittings (on book value). Patents have two more years to run and concern a vital production process .Manufactured goods were transferred to selling department at a value of Rs. 2,00,000. The value of finished goods (at transfer price ) on hand on 31st March ,2010 was Rs.30,000; the value of the finished goods as on April 1,2009 was at cost to M. Draw the Manufacturing, trading & P&L a/c for 2009-10 and the Balance Sheet of M as at the end of the year.

  • MANUFACTURING ,TRADING AND PROFIT AND LOSS ACOOUNT OF M for the year ending 31st March ,2010

  • Slide 41

  • BALANCE SHEET M as on 31st March ,2010

  • Slide 43

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