Câu hỏi về kế toán và hệ thống kế toán bằng tiếng anh Accounting Accounting process

ACCOUNTING AND ACCOUNTING PROCESS
1. What is accounting?
 Accounting is the process of identifying, measuring, recording, classifying,
summarizing, interpreting and communicating the financial transaction and
events.
2. What are some steps in accounting process? What are tasks of an
accountant in general?
Steps in accounting process





Transactions are recorded in a journal daily
Accountant periodically transfers transactions from a journal into a ledge
Accountant makes trial balance
Accountant makes financial statements

The tasks of accountants are:
+ Prepares asset, liability, and capital account entries by compiling and
analyzing account information.
+ Documents financial transactions by entering account information.
+ Recommends financial actions by analyzing accounting options.
3. What is a journal? A ledger?
 A journal is a book of original used in recording transaction for the first
time.
 A leger is a book which contains all accounts of a business, use to record
transaction for the period
4. What are three main types of financial statement? What do they
show?
 Balance sheet shows a company’s financial situation on a particular date.

It lists assets, liabilities and shares holders’ equity. Basic accounting
equation is
Asset = liabilities+ owners’ equity
 Income statement shows earnings and expenditure, it often gives figures
for total sales, turnover and costs.
 Cash flow statement shows the flow of cash in and out of the business
between balance sheet dates.
5. What is financial accounting information? For what purpose is it
used?


 Financial accounting information shows financial information about a
company’s profits, debts, cash flow…
 Purpose: is designed primarily to assist investors and creditors in deciding
where to place their scarce investment resources.
6. What is management accounting information? For what purpose is it
used?
 Management accounting information shows financial information in the
manner which is easy to support management decisions.
 Purposes: to assist management in running the business.
7. What are some different between FAI and MAI?
FAI
- Shows financial information
about a company’s profits,
debts, cash flow ect so that
investors, creditors can
measure the business
performance.
- Fix format
- Investor, current, bank worker->

both external and internal

MAI
- Show financial information in the
manner which is easy to support
management decisions. It more
details than FAI
- Don’t follow fixed format, can be
different between the company
- Only internal: manager
+ use to evaluate the performance of
business and employee
+make future decision
- Every time when the managers
want.

- Annually yearly
8. What is basic accounting equation?
 Asset = liabilities+ owners’ equity
9. What are assets? Liabilities?
 Assets are things that a company owns that have value.
 Liabilities are amounts of money that a company owes to others.