会计英语复习题

会计英语复习题(开卷)一、TranslatethefollowingparagraphintoChinese（一）ACCOUNTSRECEIVABLEFINANCINGAccountsReceivableFinancingisatypeofasset-financingarrangementinwhichacompanyusesitsreceivables--whichismoneyowedbycustomers--ascollateralinafinancingagreement.Thecompanyreceivesanamountthatisequaltoareducedvalueofthereceivablespledged.Theageofthereceivableshavealargeeffectontheamountacompanywillreceive.Theolderthereceivables,thelessthecompanycanexpect.Thesaleofaccountsreceivablesiscalledfactoring.Afinancialintermediarythatpurchasesreceivablesfromcompaniesiscalledfactor.Thistypeoffinancinghelpscompaniesfreeupcapitalthatisstuckinaccountsreceivables.Accountsreceivablefinancingtransfersthedefaultriskassociatedwiththeaccountsreceivablestothefinancingcompany;thistransferofriskcanhelpthecompanyusingthefinancingtoshiftfocusfromtryingtocollectreceivablestocurrentbusinessactivities.SellingAccountsReceivableAbusinessmaysellitsaccountsreceivabletoafinancecompanyorabankinordertoreceivecashearlierthanthetimethereceivablescomedue.Sellingaccountsreceivableiscalledfactoring;thebuyer,whochargesafactoringfee,iscalledafactor.Factoringisbecomingincreasinglypopularforfirmswithhighexportsales.PledgingAccountsReceivableAbusinessmayuseaccountsreceivableassecuritytothenotespayableitsignswhenobtainingabankloan.Thebusinessretainsownershipofthereceivables,butthebankhasarighttocashreceiptsfromthesereceivablesifthebusinessdefaultsontheloan.Thefulldisclosureprinciplerequirescompaniestodisclosetheamountofaccountsreceivablethathavebeenpledged.（二）AcmePlumbingCompanysellsplumbingfixturesontermsof2/10,net30.Itsfinancialratiosoverthelastthreeyearsareasfollows:20X120X220X3Currentratio1.191.251.20Acid-testratio.43.46.40Averagecollectionperiod182227Inventoryturnover8.07.55.5Totaldebt/equity1.381.401.61Long-termdebt/totalcapitalization.33.32.32Grossprofitmargin.200.163.132Netprofitmargin.075.047.026Totalassetturnover2.802.762.24Returnonassets.21.13.06Thecompany'sprofitabilityhasdeclinedsteadilyovertheperiod.Asonly$50,000isaddedtoretainedearnings,thecompanymustbepayingsubstantialdividends.Receivablesaregrowingataslowerrate,althoughtheaveragecollectionperiodisstillveryreasonablerelativetothetermsgiven.Inventoryturnoverisslowingaswell,indicatingarelativebuildupininventories.Theincreaseinreceivablesandinventories,coupledwiththefactthatshareholders'equityhasincreasedverylittle,hasresultedinthetotal-debt-to-equityratioincreasingtowhatwouldhavetoberegardedonanabsolutebasisasquiteahighlevel.Thecurrentandacid-testratioshavefluctuated,butthecurrentratioisnotparticularlyinspiring.Thelackofdeteriorationintheseratiosiscloudedbytherelativebuildupinbothreceivablesandinventories,evidencingadeteriorationintheliquidityofthesetwoassets.Boththegrossprofitandnetprofitmarginshavedeclinedsubstantially.Therelationshipbetweenthetwosuggeststhatthecompanyhasreducedrelativeexpensesin20X3inparticular.Thebuildupininventoriesandreceivableshasresultedinadeclineintheassetturnoverratioandthis,coupledwiththedeclineinprofitability,hasresultedinasharpdecreaseinthereturnonassetsratio.二、TranslatethefollowingtextsintoEnglish1．经营业绩的分析在评价企业的经营业绩时，财务分析人员常常运用收益率进行分析。这种涉及公司盈利能力的分析，把经营收益或净收益与某些基础相联系，比如平均资产总额、平均股东权益、年销售额。所得的百分比可与本企业过去年度的或与其他企业的同类比率相比较。最重要的几个关系式如下：(1)资产收益率＝经营收益/平均资产总额有时资产收益率也称为生产能力比率，它可以帮助管理当局衡量资产的利用效果。(2)普通股股东权益收益率=(净收益-需支付的优先股股利)/平均普通股股东权益(3)销售收益率=经营收益/销售净额各种行业的销售收益率存在很大差异。一些企业可能在以毛利率低、主要资产周转率快为特点的行业中经营(销售净额与平均资产总额的比率称为资产周转率)。而那些生产周期较长、产品流动较慢的企业，则要求有较高的毛利率以获取可接受的资产收益率和业主投资收益率。当销售收益率与资产收益率和股东权益收益率合起来考虑时，就能获得对公司经营业绩的更深了解。2．权责发生制会计和收付实现制会计在实行权责发生制会计系统的企业，收入是在赚取时而不是在收到现金时确认，费用是在商品或服务被使用时而不是在付款时确认。发生的费用与赚取的相关收入相配比，以确定每个会计期间的有意义的净收益金额。然而，某些企业，主要是服务行业，则使用收付实现制会计。与权责发生制会计相反，在收付实现制下，收入将在收到现金时确认，费用则在付出现金时确认。使用收付实现制，主要是因为它能提供一定的所得税利益，且简单易行。然而，收付实现制财务报表可能歪曲企业的财务状况和经营成果，因为用来确定净收益的收入和费用并不取决于真正收到或支付现金的期间。因此，许多企业采取权责发生制会计。三、GivesolutionstothefollowingproblemsinEnglish1．RecordingthesaleofmerchandiseandsalesdiscountsMelanie'sWholesaleDistributionCompanysoldmerchandisetoamanufacturer.Theinvoicepricewas$11000andthecredittermswere3/10,n/60(thecostofthegoodswas$8000).Recordtheentriesforthesaleofmerchandiseandthecollectionofpaymentsforthefollowingindependentscenarios.2．BotelloCompanybeganoperationsonJanuary1,20x2.Duringthenexttwoyears,thecompanycompletedanumberoftransactionsinvolvingcreditsales,accountsreceivablecollections,andbaddebts.Thesetransactionsaresummarizedasfollows:20x2a.Soldmerchandiseoncreditfor$54$00,termsn/60.b.Wroteoffuncollectibleaccountsreceivableintheamountof$850.c.Receivedcashof$45100inpaymentofoutstandingaccountsreceivable.d.InadjustingtheaccountsonDecember31,concludedthat2%oftheoutstandingaccountsreceivablewouldbecomeuncollectible.20x3e.Soldmerchandiseoncreditfor$67800,termsn/60.f.Wroteoffuncollectibleaccountsreceivableintheamountof$1280.g.Receivedcashof$65900inpaymentofoutstandingaccountsreceivable,InadjustingtheaccountsonDecember31,concludedthat2%oftheoutstandingaccountsreceivablewouldbecomeuncollectible.Required:Preparegeneraljournalentriestorecordthe20x2and20x3summarizedtransactionsofBotello