米国会計基準（べいこくかいけいきじゅん）とは、アメリカ合衆国の財務会計に使用される規則集であり、米国版の「Generally Accepted Accounting Principles」（一般に認められた会計原則）である。略してUS-GAAPや単にGAAP（ギァープ）と呼ばれることが多い[1]。米国の証券市場に上場するには必ず米国会計基準に準拠した財務諸表を作成・公表しなければならず、これに関わる米国公認会計士（US-CPA）や企業経営者、会計責任者はこの法令違反によって刑事や民事の責任を問われることがある。
基本的目標
財務諸表は以下の情報を提供する。
• 潜在的な投資家と債権者、他の利用者へ合理的な投資（Investment）や貸付、その他の金融上の意思決定の利用に供する
• 潜在的な投資家と債権者、他の利用者へ資金収支（Cashflow）の合計額や時期、不確定要因に関して判断の助けになるもの
• （企業の）資産、負債、資本、およびそれらの増減に関するもの
基本概念
基本的目標と基礎的な品質を達成するために、GAAPは4つの基本的前提、4つの基本的原則、4つの基本的制約を持つ。
基本的前提
(Assumptions)
• 企業に関する会計であること。個人の会計や他の企業の会計とは分離される。
• 継続性があること。事業が無期限に継続されることを前提にすることで、資産の計上、減価償却、償却に関するさまざまな手法が有効となる。企業整理の場合にのみこの前提は除外される。
• 金銭主義であり、貨幣価値で計量出来るもののみを扱う。FASBではインフレであっても修正することなく、記録される金銭単位としてUSドルの額面価値を採用する。
• 時間－期間の原則により、必然的に企業の経済活動は社会的な時間で区切られる
基本的原則
(Principles)
• コスト原則により、資産と負債については公正市場価格ではなく取得コストに基づいて計算し報告することが、企業に求められる。この原理は（主観的で偏った市場価格をもたらす機会を排除することで）信頼できる情報を与えるが、今日ではそれほど意味を持たなくなっている。結局、公正価格を使うのが一般的であり、なにより負債や有価証券などは現在では市場価格で報告される。
• 収益原則に基づき、企業は収益の記録に関して以下のルールに従う。
1. 実現や実現可能になった時点を使う。
2. 現金受領時点ではなく販売やサービスを完了したことで支払いを受ける権利が発生した時点（稼得時点）を使う。
このような会計方法は発生主義会計と呼ばれる。
• 費用収益対応の原則によって、費用は可能な限り収益と対応させて扱われる。費用は、作業が完了したり製品が完成した時点ではなく、作業や製品が実際の収益に結びついた時に初めて認識される。収益に結びつかなかったコストに限り、当期の費用として計上することが（例えば、事務給与やその他の管理的な費用など）許される場合がある。この原則は（収益を得るのに幾ら掛かったのかを示すことで）実際の収益性と効率をより正しく評価することを目的としている。減価償却と売上原価はこの原理の適用を示す良い例である。
• 開示原理によって、開示される数値や情報の種類は、情報に掛かるコストよりも用意して利用する利便の方が上回るように正しく損得勘定を行なわれる必要がある。情報は合理的なコストの範囲内で判断され、十分に広く開示される。情報は財務報告書やその注記、添付資料においての本体として提供される。
基本的制約
(Constraints)
• 客観性の原則 (Objectivity principle) ：会計士が作る企業の財務報告書は客観的な証拠に基づいて構成される。
• 重要性の原則 (Materiality principle) ：報告書に記載される時には、1つ1つの項目の重大性が考慮される。各々個別の理由に基づいて判断されて、1つの項目の重大性が考慮される。
• 継続性の原則 (Consistency principle) ：会計方針が合理的な理由も無く毎会計年度ごとに頻繁に変更されることは許されず、各期を通じた事業成績の変化が財務報告書の一覧によって容易に取得出来るように努められる。
• 慎重の原則 (Prudent principle) または保守主義の原則 (Consistency principle) ：2つの選択肢がある場合は、資産と収入が過大評価されない方や負債と損失が過小評価されない方を常に選ぶ。具体的には、負債と損失はある程度の確実性があれば当期に記載されるべきものとなり、資産と収入は確実とならない限りは当期に記載してはいけない。
その他の原則
• 目的適合性（Relevance）：財務報告書の利用者が得る情報によって意思決定に影響を及ぼし決定に違いが出るほどならば、それは目的適合性があるといえる。それには将来予測、過去の決定に対する正誤判断の確認が含まれ、また、利用者が必要とする適時に情報が提供される必要がある。
• 信頼性（Reliability）：誤りや偏見がなく、検証が可能であり、内容と表現が一貫している。
• 比較可能性（Comparability）：複数企業間の財務報告書を並べることで簡単に業績の優劣や類似点、相違点が比較出来る。
• 即時認識（Immediate recognition）：発生した費用は直ちに認識され、その期の内に記録される。
2011年4月26日火曜日
Generally Accepted Accounting Principles (GAAP)
Generally Accepted Accounting Principles (GAAP) is a term used to refer to the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as Accounting Standards. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions, and in the preparation of financial statements.
Overview
The term "GAAP" is an abbreviation for Generally Accepted Accounting Principles (GAAP). GAAP is a codification of how CPA firms and corporations prepare and present their business income and expense, assets and liabilities on their financial statements. GAAP is not a single accounting rule, but rather the aggregate of many rules on how to account for various transactions. The basic principles underlying GAAP accounting are set forth below.
When preparing financial statements prepared using GAAP, most American corporations and other business entities use the many rules of how to report business transactions based upon the various GAAP rules. This provides for consistency in the reporting of companies and businesses so that financial analysts, Banks, Shareholders and the SEC can have all reporting companies preparing their financial statements using the same rules and reporting procedures. This allows for an "Apple to Apple" comparison of any corporation or business entity with another. Thus, if Company A reports $1,000,000 of net income, using GAAP, then the public and other users of financial statements can compare that net income to another company that is reporting $500,000 of net income, using GAAP.
The rules and procedures for reporting under GAAP are complex and have developed over a long period of time. Currently there are more than 150 "pronouncements" as to how to account for different types of transactions, ranging from how to report regular income from the sale of goods, and its related inventory values, to accounting for incentive stock option distributions. By using consistent principles, all companies reporting under GAAP report these transactions on their financial statements in a consistent manner.
The various rules and pronouncements come from the Financial Accounting Standards Board (FASB) which is a non-profit organization that the accounting profession has created to promulgate the rules of GAAP reporting and to amend the rules of GAAP reporting as occasion requires. The more recent pronouncements come as Statements of the Financial Accounting Board (SFAS). Changes in the GAAP rules can carry tremendous impact upon American business. For example, when FASB stopped requiring banks to mark their assets (loans) to the lower of cost or market (i.e. value of a foreclosed home loan), the effect on a bank's "net worth" as defined by GAAP can change dramatically. While generally neutral, there is some pressure on the FASB to yield to industry or political pressure when it makes its rules.
Nonetheless, since all companies report using the same set of rules, knowing the rules of GAAP reporting can tell the user of financial statements a great deal. The study of accounting, in large part, entails learning the many rules and promulgations set forth by FASB and how to apply those rules to actual business events.
GAAP is slowly being phased out in favor of the International Accounting Standards as the global business becomes more pervasive. GAAP applies only to United States financial reporting and thus an American company reporting under GAAP might show different results if it was compared to a British company that uses the International Standards. While there is tremendous similarity between GAAP and the International Rules, the differences can lead a financial statement user to incorrectly believe that company A made more money than company B simply because they report using different rules. The move towards International Standards seeks to eliminate this kind of disparity.
Financial Accounting is information that must be assembled and reported objectively. Third-parties who must rely on such information have a right to be assured that the data are free from bias and inconsistency, whether deliberate or not. For this reason, financial accounting relies on certain standards or guides that are called "Generally Accepted Accounting Principles" (GAAP).
Principles derive from tradition, such as the concept of matching. In any report of financial statements (audit, compilation, review, etc.), the preparer/auditor must indicate to the reader whether or not the information contained within the statements complies with GAAP.
• Principle of regularity: Regularity can be defined as conformity to enforced rules and laws.
• Principle of consistency: This principle states that when a business has once fixed a method for the accounting treatment of an item, it will enter all similar items that follow in exactly the same way.
• Principle of sincerity: According to this principle, the accounting unit should reflect in good faith the reality of the company's financial status.
• Principle of the permanence of methods: This principle aims at allowing the coherence and comparison of the financial information published by the company.
• Principle of non-compensation: One should show the full details of the financial information and not seek to compensate a debt with an asset, revenue with an expense, etc. (see convention of conservatism)
• Principle of prudence: This principle aims at showing the reality "as is": one should not try to make things look prettier than they are. Typically, revenue should be recorded only when it is certain and a provision should be entered for an expense which is probable.
• Principle of continuity: When stating financial information, one should assume that the business will not be interrupted. This principle mitigates the principle of prudence: assets do not have to be accounted at their disposable value, but it is accepted that they are at their historical value (see depreciationand going concern).
• Principle of periodicity: Each accounting entry should be allocated to a given period, and split accordingly if it covers several periods. If a client pre-pays a subscription (or lease, etc.), the given revenue should be split to the entire time-span and not counted for entirely on the date of the transaction.
• Principle of Full Disclosure/Materiality: All information and values pertaining to the financial position of a business must be disclosed in the records.
• Principle of Utmost Good Faith: All the information regarding to the firm should be disclosed to the insurer before the insurance policy is taken.
International Accounting Standards and Rules
Many countries use or are converging on the International Financial Reporting Standards (IFRS), established and maintained by the International Accounting Standards Board. In some countries, local accounting principles are applied for regular companies but listed or large companies must conform to IFRS, so statutory reporting is comparable internationally, across jurisdictions.
Overview
The term "GAAP" is an abbreviation for Generally Accepted Accounting Principles (GAAP). GAAP is a codification of how CPA firms and corporations prepare and present their business income and expense, assets and liabilities on their financial statements. GAAP is not a single accounting rule, but rather the aggregate of many rules on how to account for various transactions. The basic principles underlying GAAP accounting are set forth below.
When preparing financial statements prepared using GAAP, most American corporations and other business entities use the many rules of how to report business transactions based upon the various GAAP rules. This provides for consistency in the reporting of companies and businesses so that financial analysts, Banks, Shareholders and the SEC can have all reporting companies preparing their financial statements using the same rules and reporting procedures. This allows for an "Apple to Apple" comparison of any corporation or business entity with another. Thus, if Company A reports $1,000,000 of net income, using GAAP, then the public and other users of financial statements can compare that net income to another company that is reporting $500,000 of net income, using GAAP.
The rules and procedures for reporting under GAAP are complex and have developed over a long period of time. Currently there are more than 150 "pronouncements" as to how to account for different types of transactions, ranging from how to report regular income from the sale of goods, and its related inventory values, to accounting for incentive stock option distributions. By using consistent principles, all companies reporting under GAAP report these transactions on their financial statements in a consistent manner.
The various rules and pronouncements come from the Financial Accounting Standards Board (FASB) which is a non-profit organization that the accounting profession has created to promulgate the rules of GAAP reporting and to amend the rules of GAAP reporting as occasion requires. The more recent pronouncements come as Statements of the Financial Accounting Board (SFAS). Changes in the GAAP rules can carry tremendous impact upon American business. For example, when FASB stopped requiring banks to mark their assets (loans) to the lower of cost or market (i.e. value of a foreclosed home loan), the effect on a bank's "net worth" as defined by GAAP can change dramatically. While generally neutral, there is some pressure on the FASB to yield to industry or political pressure when it makes its rules.
Nonetheless, since all companies report using the same set of rules, knowing the rules of GAAP reporting can tell the user of financial statements a great deal. The study of accounting, in large part, entails learning the many rules and promulgations set forth by FASB and how to apply those rules to actual business events.
GAAP is slowly being phased out in favor of the International Accounting Standards as the global business becomes more pervasive. GAAP applies only to United States financial reporting and thus an American company reporting under GAAP might show different results if it was compared to a British company that uses the International Standards. While there is tremendous similarity between GAAP and the International Rules, the differences can lead a financial statement user to incorrectly believe that company A made more money than company B simply because they report using different rules. The move towards International Standards seeks to eliminate this kind of disparity.
Financial Accounting is information that must be assembled and reported objectively. Third-parties who must rely on such information have a right to be assured that the data are free from bias and inconsistency, whether deliberate or not. For this reason, financial accounting relies on certain standards or guides that are called "Generally Accepted Accounting Principles" (GAAP).
Principles derive from tradition, such as the concept of matching. In any report of financial statements (audit, compilation, review, etc.), the preparer/auditor must indicate to the reader whether or not the information contained within the statements complies with GAAP.
• Principle of regularity: Regularity can be defined as conformity to enforced rules and laws.
• Principle of consistency: This principle states that when a business has once fixed a method for the accounting treatment of an item, it will enter all similar items that follow in exactly the same way.
• Principle of sincerity: According to this principle, the accounting unit should reflect in good faith the reality of the company's financial status.
• Principle of the permanence of methods: This principle aims at allowing the coherence and comparison of the financial information published by the company.
• Principle of non-compensation: One should show the full details of the financial information and not seek to compensate a debt with an asset, revenue with an expense, etc. (see convention of conservatism)
• Principle of prudence: This principle aims at showing the reality "as is": one should not try to make things look prettier than they are. Typically, revenue should be recorded only when it is certain and a provision should be entered for an expense which is probable.
• Principle of continuity: When stating financial information, one should assume that the business will not be interrupted. This principle mitigates the principle of prudence: assets do not have to be accounted at their disposable value, but it is accepted that they are at their historical value (see depreciationand going concern).
• Principle of periodicity: Each accounting entry should be allocated to a given period, and split accordingly if it covers several periods. If a client pre-pays a subscription (or lease, etc.), the given revenue should be split to the entire time-span and not counted for entirely on the date of the transaction.
• Principle of Full Disclosure/Materiality: All information and values pertaining to the financial position of a business must be disclosed in the records.
• Principle of Utmost Good Faith: All the information regarding to the firm should be disclosed to the insurer before the insurance policy is taken.
International Accounting Standards and Rules
Many countries use or are converging on the International Financial Reporting Standards (IFRS), established and maintained by the International Accounting Standards Board. In some countries, local accounting principles are applied for regular companies but listed or large companies must conform to IFRS, so statutory reporting is comparable internationally, across jurisdictions.
会計関連単語
agree to a merger
合併に同意する
⇒The regulatory authority eventually agreed to the proposed merger.（規制当局は、最終的にはその合併案件に同意した）
authorities
当局
⇒銀行関係であれば大蔵省という具合に、監督官庁を指す。regulatory bodyと同じ。
concerted intervention
協調介入
⇒外為市場で見られたこの日の協調介入は、日本側の円高に対する懸念と日本の規制緩和策に対する米側の支持を物語っていると受け止められている。 The day's concerted intervention in the currency markets was seen both as sign of Japanese concerns about the yen and a U.S. endorsement of Japan's deregulatory steps.なお各国中央銀行が連絡を取り合って行う協調介入を表す言葉としては、他にorchestrated interventionもあるが、www.googlefight.comで調べると、concerted interventionが８００強のヒット件数になるのに、orchestratedだと５０いくつしかない。
concerted intervention
（為替市場での）協調介入
⇒The day's concerted intervention in the currency markets was seen both as a sign of Japanese concerns about the yen and a U.S. endorsement of Japan's deregulatory steps.（外為市場で見られたこの日の協調介入は、日本側の円高に対する懸念と日本の規制緩和策に対する米側の支持を物語っていると受け止められている）
draw up a list
リストを作成する
⇒I have asked the legal department to draw up a list of requirements for obtaining approval from theregulatory agency.（監督官庁の認可を受けるための必要事項をまとめたリストを法務部が今作成しているところだ）
financial statements
決算書、財務諸表
⇒We are required to submit audited financial statements to regulatory agencies.（当社は監督機関に対して監査済み財務諸表を提出する義務を負っている）
fine an employer
事業主・（雇用者としての）企業に罰金を科する
⇒The regulatory agency can fine an employer who does not meet these requirements.（監督官庁はこうした義務を履行しない企業に罰金を科すことができる）
institute proceedings
手続の開始を申し立てる
⇒The regulatory agency instituted proceedings to revoke the company's license.（監督官庁はその会社の事業免許を取り消す手続を取った）
internal memo
社内メモ
⇒Regulatory changes that impact the company are generally announced by way of internal memos.（会社に影響するような関係法令上の変更は一般に社内メモで知らされる）
jurisdiction
領域、管轄区域
⇒国家機関が権能（法律上付与されている能力）・権限（国家機関の行為としての法的効力が認められる範囲）を行使できる地理的限界のこと。→ 海外の領域においては英国で適用されるものとは異なる監督行政上の遵守事項がありうる。There may be different regulatory requirements in overseas jurisdictions from those applying in the U.K.
• in rem jurisdiction
対物管轄
⇒その「物」に管轄権が及ぶことを指す言い方。
• have jurisdiction over something
～に対して管轄権がある
⇒Small claims courts do not have jurisdiction over cases of slander and libel. （少額裁判所は、口頭または書面による名誉棄損がかかわる事件については管轄権がない）
• exclusive jurisdiction
排他的管轄権
⇒特定の裁判所のみが裁判権を行使できることを言う。→ 本契約に関して生じうる紛争については英国の裁判所が専属管轄を有する。The English Courts are to have exclusive jurisdiction to settle any disputes which may arise out of this Agreement.
• non-exclusive jurisdiction
非排他的管轄権
⇒契約などで裁判を起こす場合の裁判所を指定する際、一定の裁判所を指定はするが、それ以外の裁判所でもかまわないという場合を指す。→The parties hereto agree that the Tokyo District Court shall have non-exclusive jurisdiction over any disputes between the parties hereto. 本契約当事者は、本契約当事者間の紛争については東京地方裁判所が非専属的管轄権を有することを了承する。
• in personam jurisdiction
対人管轄
⇒その「人」に管轄権が及ぶことを指す言い方。
meet one's obligations
自分の義務を履行する
⇒Compliance facilitates an organization identify and meet its primary obligations whether they arise in a legal, regulatory, contractual, industry standard or internal policy context.（コンプライアンスは、事業組織が法律、監督行政、契約、業界の水準、そして社内の基本方針上負う主たる義務につき、どのようなものがあり、どう履行すべきかを判断しやすくする仕組みだ）
safety measure
安全対策
⇒Employers are required to adopt regulatory safety measures to prevent worker injury.（事業主は労働災害を防ぐため、法令などで定められている安全対策を講じる義務がある）
set requirements
要件を定める
⇒In most countries, regulatory agencies set the educational requirements for those entering the nursing profession. （ほとんどの国では、監督官庁が看護師となるための教育要件を定めている）
submit a business improvement plan
業務改善計画を提出する
⇒提出先は通例、監督官庁であり、監督官庁により受理されたと言いたいときは、was accepted by the regulatory bodyと形容する。
suspend a plan
計画を中止する
⇒The board suspended the plan due to regulatory changes.（規制が変わったので、取締役会は計画を中止した）
to fine somebody
somebodyに対して罰金を課する
⇒The regulatory authority fined XYZ a total of 1 MM yen for the violations. 監督官庁はXYZに対して100 万円の罰金を賦課した。
training seminar
研修セミナー
⇒We are planning a training seminar on compliance with regulatory requirements.（監督法令上の義務の遵守に向け研修セミナーを企画しているところだ）
• conduct a training seminar
研修セミナーを実施する
合併に同意する
⇒The regulatory authority eventually agreed to the proposed merger.（規制当局は、最終的にはその合併案件に同意した）
authorities
当局
⇒銀行関係であれば大蔵省という具合に、監督官庁を指す。regulatory bodyと同じ。
concerted intervention
協調介入
⇒外為市場で見られたこの日の協調介入は、日本側の円高に対する懸念と日本の規制緩和策に対する米側の支持を物語っていると受け止められている。 The day's concerted intervention in the currency markets was seen both as sign of Japanese concerns about the yen and a U.S. endorsement of Japan's deregulatory steps.なお各国中央銀行が連絡を取り合って行う協調介入を表す言葉としては、他にorchestrated interventionもあるが、www.googlefight.comで調べると、concerted interventionが８００強のヒット件数になるのに、orchestratedだと５０いくつしかない。
concerted intervention
（為替市場での）協調介入
⇒The day's concerted intervention in the currency markets was seen both as a sign of Japanese concerns about the yen and a U.S. endorsement of Japan's deregulatory steps.（外為市場で見られたこの日の協調介入は、日本側の円高に対する懸念と日本の規制緩和策に対する米側の支持を物語っていると受け止められている）
draw up a list
リストを作成する
⇒I have asked the legal department to draw up a list of requirements for obtaining approval from theregulatory agency.（監督官庁の認可を受けるための必要事項をまとめたリストを法務部が今作成しているところだ）
financial statements
決算書、財務諸表
⇒We are required to submit audited financial statements to regulatory agencies.（当社は監督機関に対して監査済み財務諸表を提出する義務を負っている）
fine an employer
事業主・（雇用者としての）企業に罰金を科する
⇒The regulatory agency can fine an employer who does not meet these requirements.（監督官庁はこうした義務を履行しない企業に罰金を科すことができる）
institute proceedings
手続の開始を申し立てる
⇒The regulatory agency instituted proceedings to revoke the company's license.（監督官庁はその会社の事業免許を取り消す手続を取った）
internal memo
社内メモ
⇒Regulatory changes that impact the company are generally announced by way of internal memos.（会社に影響するような関係法令上の変更は一般に社内メモで知らされる）
jurisdiction
領域、管轄区域
⇒国家機関が権能（法律上付与されている能力）・権限（国家機関の行為としての法的効力が認められる範囲）を行使できる地理的限界のこと。→ 海外の領域においては英国で適用されるものとは異なる監督行政上の遵守事項がありうる。There may be different regulatory requirements in overseas jurisdictions from those applying in the U.K.
• in rem jurisdiction
対物管轄
⇒その「物」に管轄権が及ぶことを指す言い方。
• have jurisdiction over something
～に対して管轄権がある
⇒Small claims courts do not have jurisdiction over cases of slander and libel. （少額裁判所は、口頭または書面による名誉棄損がかかわる事件については管轄権がない）
• exclusive jurisdiction
排他的管轄権
⇒特定の裁判所のみが裁判権を行使できることを言う。→ 本契約に関して生じうる紛争については英国の裁判所が専属管轄を有する。The English Courts are to have exclusive jurisdiction to settle any disputes which may arise out of this Agreement.
• non-exclusive jurisdiction
非排他的管轄権
⇒契約などで裁判を起こす場合の裁判所を指定する際、一定の裁判所を指定はするが、それ以外の裁判所でもかまわないという場合を指す。→The parties hereto agree that the Tokyo District Court shall have non-exclusive jurisdiction over any disputes between the parties hereto. 本契約当事者は、本契約当事者間の紛争については東京地方裁判所が非専属的管轄権を有することを了承する。
• in personam jurisdiction
対人管轄
⇒その「人」に管轄権が及ぶことを指す言い方。
meet one's obligations
自分の義務を履行する
⇒Compliance facilitates an organization identify and meet its primary obligations whether they arise in a legal, regulatory, contractual, industry standard or internal policy context.（コンプライアンスは、事業組織が法律、監督行政、契約、業界の水準、そして社内の基本方針上負う主たる義務につき、どのようなものがあり、どう履行すべきかを判断しやすくする仕組みだ）
safety measure
安全対策
⇒Employers are required to adopt regulatory safety measures to prevent worker injury.（事業主は労働災害を防ぐため、法令などで定められている安全対策を講じる義務がある）
set requirements
要件を定める
⇒In most countries, regulatory agencies set the educational requirements for those entering the nursing profession. （ほとんどの国では、監督官庁が看護師となるための教育要件を定めている）
submit a business improvement plan
業務改善計画を提出する
⇒提出先は通例、監督官庁であり、監督官庁により受理されたと言いたいときは、was accepted by the regulatory bodyと形容する。
suspend a plan
計画を中止する
⇒The board suspended the plan due to regulatory changes.（規制が変わったので、取締役会は計画を中止した）
to fine somebody
somebodyに対して罰金を課する
⇒The regulatory authority fined XYZ a total of 1 MM yen for the violations. 監督官庁はXYZに対して100 万円の罰金を賦課した。
training seminar
研修セミナー
⇒We are planning a training seminar on compliance with regulatory requirements.（監督法令上の義務の遵守に向け研修セミナーを企画しているところだ）
• conduct a training seminar
研修セミナーを実施する
Sarbanes-Oxley Outlines
Sarbanes–Oxley contains 11 titles that describe specific mandates and requirements for financial reporting. Each title consists of several sections, summarized below.
1. Public Company Accounting Oversight Board (PCAOB)
Title I consists of nine sections and establishes the Public Company Accounting Oversight Board, to provide independent oversight of public accounting firms providing audit services ("auditors"). It also creates a central oversight board tasked with registering auditors, defining the specific processes and procedures for compliance audits, inspecting and policing conduct and quality control, and enforcing compliance with the specific mandates of SOX.
2. Auditor Independence
Title II consists of nine sections and establishes standards for external auditor independence, to limit conflicts of interest. It also addresses new auditor approval requirements, audit partner rotation, and auditor reporting requirements. It restricts auditing companies from providing non-audit services (e.g., consulting) for the same clients.
3. Corporate Responsibility
Title III consists of eight sections and mandates that senior executives take individual responsibility for the accuracy and completeness of corporate financial reports. It defines the interaction of external auditors and corporate audit committees, and specifies the responsibility of corporate officers for the accuracy and validity of corporate financial reports. It enumerates specific limits on the behaviors of corporate officers and describes specific forfeitures of benefits and civil penalties for non-compliance. For example, Section 302 requires that the company's "principal officers" (typically the Chief Executive Officer and Chief Financial Officer) certify and approve the integrity of their company financial reports quarterly.[4]
4. Enhanced Financial Disclosures
Title IV consists of nine sections. It describes enhanced reporting requirements for financial transactions, including off-balance-sheet transactions, pro-forma figures and stock transactions of corporate officers. It requires internal controls for assuring the accuracy of financial reports and disclosures, and mandates both audits and reports on those controls. It also requires timely reporting of material changes in financial condition and specific enhanced reviews by the SEC or its agents of corporate reports.
5. Analyst Conflicts of Interest
Title V consists of only one section, which includes measures designed to help restore investor confidence in the reporting of securities analysts. It defines the codes of conduct for securities analysts and requires disclosure of knowable conflicts of interest.
6. Commission Resources and Authority
Title VI consists of four sections and defines practices to restore investor confidence in securities analysts. It also defines the SEC's authority to censure or bar securities professionals from practice and defines conditions under which a person can be barred from practicing as a broker, advisor, or dealer.
7. Studies and Reports
Title VII consists of five sections and requires the Comptroller General and the SEC to perform various studies and report their findings. Studies and reports include the effects of consolidation of public accounting firms, the role of credit rating agencies in the operation of securities markets, securities violations and enforcement actions, and whether investment banks assisted Enron, Global Crossing and others to manipulate earnings and obfuscate true financial conditions.
8. Corporate and Criminal Fraud Accountability
Title VIII consists of seven sections and is also referred to as the "Corporate and Criminal Fraud Accountability Act of 2002". It describes specific criminal penalties for manipulation, destruction or alteration of financial records or other interference with investigations, while providing certain protections for whistle-blowers.
9. White Collar Crime Penalty Enhancement
Title IX consists of six sections. This section is also called the "White Collar Crime Penalty Enhancement Act of 2002." This section increases the criminal penalties associated with white-collar crimes and conspiracies. It recommends stronger sentencing guidelines and specifically adds failure to certify corporate financial reports as a criminal offense.
10. Corporate Tax Returns
Title X consists of one section. Section 1001 states that the Chief Executive Officer should sign the company tax return.
11. Corporate Fraud Accountability
Title XI consists of seven sections. Section 1101 recommends a name for this title as "Corporate Fraud Accountability Act of 2002". It identifies corporate fraud and records tampering as criminal offenses and joins those offenses to specific penalties. It also revises sentencing guidelines and strengthens their penalties. This enables the SEC to resort to temporarily freezing transactions or payments that have been deemed "large" or "unusual".
1. Public Company Accounting Oversight Board (PCAOB)
Title I consists of nine sections and establishes the Public Company Accounting Oversight Board, to provide independent oversight of public accounting firms providing audit services ("auditors"). It also creates a central oversight board tasked with registering auditors, defining the specific processes and procedures for compliance audits, inspecting and policing conduct and quality control, and enforcing compliance with the specific mandates of SOX.
2. Auditor Independence
Title II consists of nine sections and establishes standards for external auditor independence, to limit conflicts of interest. It also addresses new auditor approval requirements, audit partner rotation, and auditor reporting requirements. It restricts auditing companies from providing non-audit services (e.g., consulting) for the same clients.
3. Corporate Responsibility
Title III consists of eight sections and mandates that senior executives take individual responsibility for the accuracy and completeness of corporate financial reports. It defines the interaction of external auditors and corporate audit committees, and specifies the responsibility of corporate officers for the accuracy and validity of corporate financial reports. It enumerates specific limits on the behaviors of corporate officers and describes specific forfeitures of benefits and civil penalties for non-compliance. For example, Section 302 requires that the company's "principal officers" (typically the Chief Executive Officer and Chief Financial Officer) certify and approve the integrity of their company financial reports quarterly.[4]
4. Enhanced Financial Disclosures
Title IV consists of nine sections. It describes enhanced reporting requirements for financial transactions, including off-balance-sheet transactions, pro-forma figures and stock transactions of corporate officers. It requires internal controls for assuring the accuracy of financial reports and disclosures, and mandates both audits and reports on those controls. It also requires timely reporting of material changes in financial condition and specific enhanced reviews by the SEC or its agents of corporate reports.
5. Analyst Conflicts of Interest
Title V consists of only one section, which includes measures designed to help restore investor confidence in the reporting of securities analysts. It defines the codes of conduct for securities analysts and requires disclosure of knowable conflicts of interest.
6. Commission Resources and Authority
Title VI consists of four sections and defines practices to restore investor confidence in securities analysts. It also defines the SEC's authority to censure or bar securities professionals from practice and defines conditions under which a person can be barred from practicing as a broker, advisor, or dealer.
7. Studies and Reports
Title VII consists of five sections and requires the Comptroller General and the SEC to perform various studies and report their findings. Studies and reports include the effects of consolidation of public accounting firms, the role of credit rating agencies in the operation of securities markets, securities violations and enforcement actions, and whether investment banks assisted Enron, Global Crossing and others to manipulate earnings and obfuscate true financial conditions.
8. Corporate and Criminal Fraud Accountability
Title VIII consists of seven sections and is also referred to as the "Corporate and Criminal Fraud Accountability Act of 2002". It describes specific criminal penalties for manipulation, destruction or alteration of financial records or other interference with investigations, while providing certain protections for whistle-blowers.
9. White Collar Crime Penalty Enhancement
Title IX consists of six sections. This section is also called the "White Collar Crime Penalty Enhancement Act of 2002." This section increases the criminal penalties associated with white-collar crimes and conspiracies. It recommends stronger sentencing guidelines and specifically adds failure to certify corporate financial reports as a criminal offense.
10. Corporate Tax Returns
Title X consists of one section. Section 1001 states that the Chief Executive Officer should sign the company tax return.
11. Corporate Fraud Accountability
Title XI consists of seven sections. Section 1101 recommends a name for this title as "Corporate Fraud Accountability Act of 2002". It identifies corporate fraud and records tampering as criminal offenses and joins those offenses to specific penalties. It also revises sentencing guidelines and strengthens their penalties. This enables the SEC to resort to temporarily freezing transactions or payments that have been deemed "large" or "unusual".
Sarbanes Oxley Act
The Sarbanes–Oxley Act of 2002 (Pub.L. 107-204, 116 Stat. 745, enacted July 30, 2002), also known as the 'Public Company Accounting Reform and Investor Protection Act' (in the Senate) and 'Corporate and Auditing Accountability and Responsibility Act' (in the House) and commonly called Sarbanes–Oxley, Sarbox or SOX, is aUnited States federal law enacted on July 30, 2002, which set new or enhanced standards for all U.S. public company boards, management and public accounting firms. It is named after sponsors U.S. Senator Paul Sarbanes(D-MD) and U.S. Representative Michael G. Oxley (R-OH).
The bill was enacted as a reaction to a number of major corporate and accounting scandals including those affectingEnron, Tyco International, Adelphia, Peregrine Systems and WorldCom. These scandals, which cost investors billions of dollars when the share prices of affected companies collapsed, shook public confidence in the nation'ssecurities markets.
It does not apply to privately held companies. The act contains 11 titles, or sections, ranging from additional corporate board responsibilities to criminal penalties, and requires the Securities and Exchange Commission(SEC) to implement rulings on requirements to comply with the new law. Harvey Pitt, the 26th chairman of the SEC, led the SEC in the adoption of dozens of rules to implement the Sarbanes–Oxley Act. It created a new, quasi-public agency, the Public Company Accounting Oversight Board, or PCAOB, charged with overseeing, regulating, inspecting and disciplining accounting firms in their roles as auditors of public companies. The act also covers issues such as auditor independence, corporate governance, internal control assessment, and enhanced financial disclosure.
The bill was enacted as a reaction to a number of major corporate and accounting scandals including those affectingEnron, Tyco International, Adelphia, Peregrine Systems and WorldCom. These scandals, which cost investors billions of dollars when the share prices of affected companies collapsed, shook public confidence in the nation'ssecurities markets.
It does not apply to privately held companies. The act contains 11 titles, or sections, ranging from additional corporate board responsibilities to criminal penalties, and requires the Securities and Exchange Commission(SEC) to implement rulings on requirements to comply with the new law. Harvey Pitt, the 26th chairman of the SEC, led the SEC in the adoption of dozens of rules to implement the Sarbanes–Oxley Act. It created a new, quasi-public agency, the Public Company Accounting Oversight Board, or PCAOB, charged with overseeing, regulating, inspecting and disciplining accounting firms in their roles as auditors of public companies. The act also covers issues such as auditor independence, corporate governance, internal control assessment, and enhanced financial disclosure.
International Financial Reporting Standards
IFRS authorize two basic accounting models:
I. Financial capital maintenance in nominal monetary units, i.e., Historical cost accounting during low inflation and deflation (see the Framework, Par 104 (a)).
II. Financial capital maintenance in units of constant purchasing power, i.e., Constant Item Purchasing Power Accounting - CIPPA - during low inflation and deflation (see the Framework, Par 104 (a)) and Constant Purchasing Power Accounting (see IAS 29) - CPPA - during hyperinflation. Financial capital maintenance in units of constant purchasing power is not authorized under US GAAP.
I. Financial capital maintenance in nominal monetary units, i.e., Historical cost accounting during low inflation and deflation (see the Framework, Par 104 (a)).
II. Financial capital maintenance in units of constant purchasing power, i.e., Constant Item Purchasing Power Accounting - CIPPA - during low inflation and deflation (see the Framework, Par 104 (a)) and Constant Purchasing Power Accounting (see IAS 29) - CPPA - during hyperinflation. Financial capital maintenance in units of constant purchasing power is not authorized under US GAAP.
Qualitative characteristics of financial statements
Qualitative characteristics of financial statements include:
* Understandability
* Reliability
* Comparability
* Relevance
* True and Fair View/Fair Presentation
Elements of financial statements
The financial position of an enterprise is primarily provided in the Statement of Financial Position. The elements include:
1. Asset: An asset is a resource controlled by the enterprise as a result of past events from which future economic benefits are expected to flow to the enterprise.
2. Liability: A liability is a present obligation of the enterprise arising from the past events, the settlement of which is expected to result in an outflow from the enterprise' resources, i.e., assets.
3. Equity: Equity is the residual interest in the assets of the enterprise after deducting all the liabilities under the Historical Cost Accounting model. Equity is also known as owner's equity. Under the units of constant purchasing power model equity is the constant real value of shareholders´ equity.
The financial performance of an enterprise is primarily provided in an income statement or profit and loss account. The elements of an income statement or the elements that measure the financial performance are as follows:
1. Revenues: increases in economic benefit during an accounting period in the form of inflows or enhancements of assets, or decrease of liabilities that result in increases in equity. However, it does not include the contributions made by the equity participants, i.e., proprietor, partners and shareholders.
2. Expenses: decreases in economic benefits during an accounting period in the form of outflows, or depletions of assets or incurrences of liabilities that result in decreases in equity.
Revenues and expenses are measured in nominal monetary units under the Historical Cost Accountimg model and in units of constant purchasing power (inflation-adjusted) under the Units of Constant Purchasing Power model.
Requirements of IFRS
IFRS financial statements consist of (IAS1.8)
a Statement of Financial Position
a Statement of Comprehensive Income or two separate statements comprising an Income Statement and separately a Statement of Comprehensive Income, which reconciles Profit or Loss on the Income statement to total comprehensive income
a Statement of Changes in Equity (SOCE)
a Cash Flow Statement or Statement of Cash Flows
notes, including a summary of the significant accounting policies
Comparative information is required for the prior reporting period (IAS 1.36). An entity preparing IFRS accounts for the first time must apply IFRS in full for the current and comparative period although there are transitional exemptions (IFRS1.7).
On 6 September 2007, the IASB issued a revised IAS 1 Presentation of Financial Statements. The main changes from the previous version are to require that an entity must:
present all non-owner changes in equity (that is, 'comprehensive income' ) either in one Statement of comprehensive income or in two statements (a separate income statement and a statement of comprehensive income). Components of comprehensive income may not be presented in the Statement of changes in equity.
present a statement of financial position (balance sheet) as at the beginning of the earliest comparative period in a complete set of financial statements when the entity applies the new standatd.
present a statement of cash flow.
make necessary disclosure by the way of a note.
The revised IAS 1 is effective for annual periods beginning on or after 1 January 2009. Early adoption is permitted.
Financial statements of non-profit organizations
he financial statements of non-profit organizations that publish financial statements, such as charitable organizations and large voluntary associations, tend to be simpler than those of for-profit corporations. Often they consist of just a balance sheet and a "statement of activities" (listing income and expenses) similar to the "Profit and Loss statement" of a for-profit. Charitable organizations in the United States are required to show their income and net assets (equity) in three categories: Unrestricted (available for general use), Temporarily Restricted (to be released after the donor's time or purpose restrictions have been met), and Permanently Restricted (to be held perpetually, e.g., in an Endowment).
Financial statement
A financial statement (or financial report) is a formal record of the financial activities of a business, person, or other entity. In British English—including United Kingdom company law—a financial statement is often referred to as an account, although the term financial statement is also used, particularly by accountants.
For a business enterprise, all the relevant financial information, presented in a structured manner and in a form easy to understand, are called the financial statements. They typically include four basic financial statements, accompanied by a management discussion and analysis:[1]
1. Statement of Financial Position: also referred to as statement of financial position or condition, reports on a company's assets, liabilities, and Ownership equity at a given point in time.
2. Statement of Comprehensive Income: also referred to as Profit and Loss statement (or a "P&L"), reports on a company's income, expenses, and profits over a period of time. Profit & Loss account provide information on the operation of the enterprise. These include sale and the various expenses incurred during the processing state.
3. Statement of Changes in Equity: explains the changes of the company's equity throughout the reporting period
4. Statement of cash flows: reports on a company's cash flow activities, particularly its operating, investing and financing activities.
For large corporations, these statements are often complex and may include an extensive set of notes to the financial statements and management discussion and analysis. The notes typically describe each item on the balance sheet, income statement and cash flow statement in further detail. Notes to financial statements are considered an integral part of the financial statements.
For a business enterprise, all the relevant financial information, presented in a structured manner and in a form easy to understand, are called the financial statements. They typically include four basic financial statements, accompanied by a management discussion and analysis:[1]
1. Statement of Financial Position: also referred to as statement of financial position or condition, reports on a company's assets, liabilities, and Ownership equity at a given point in time.
2. Statement of Comprehensive Income: also referred to as Profit and Loss statement (or a "P&L"), reports on a company's income, expenses, and profits over a period of time. Profit & Loss account provide information on the operation of the enterprise. These include sale and the various expenses incurred during the processing state.
3. Statement of Changes in Equity: explains the changes of the company's equity throughout the reporting period
4. Statement of cash flows: reports on a company's cash flow activities, particularly its operating, investing and financing activities.
For large corporations, these statements are often complex and may include an extensive set of notes to the financial statements and management discussion and analysis. The notes typically describe each item on the balance sheet, income statement and cash flow statement in further detail. Notes to financial statements are considered an integral part of the financial statements.
Sample balance sheet
Balance Sheet of XYZ, Ltd.
As of
ASSETS
Current Assets
Cash and Cash Equivalents
Accounts Receivable (Debtors)
Less : Allowances for Doubtful Accounts
Inventories
Prepaid Expenses
Investment Securities (Held for trading)
Other Current Assets
Non-Current Assets (Fixed Assets)
Property, Plant and Equipment (PPE)
Less : Accumulated Depreciation
Investment Securities (Available for sale/Held-to-maturity)
Investments in Associates
Intangible Assets (Patent, Copyright, Trademark, etc.)
Less : Accumulated Amortization
Goodwill
Other Non-Current Assets, e.g. Deferred Tax Assets, Lease Receivable
LIABILITIES and SHAREHOLDERS' EQUITY
LIABILITIES
Current Liabilities (Creditors: amounts falling due within one year)
Accounts Payable
Current Income Tax Payable
Current portion of Loans Payable
Short-term Provisions
Other Current Liabilities, e.g. Unearned Revenue, Deposits
Non-Current Liabilities (Creditors: amounts falling due after more than one year)
Loans Payable
Issued Debt Securities, e.g. Notes/Bonds Payable
Deferred Tax Liabilities
Provisions, e.g. Pension Obligations
Other Non-Current Liabilities, e.g. Lease Obligations
SHAREHOLDERS' EQUITY
Paid-in Capital
Share Capital (Ordinary Shares, Preference Shares)
Share Premium
Less: Treasury Shares
Retained Earnings
Revaluation Reserve
Accumulated Other Comprehensive Income
Non-Controlling Interest
Public Business Entities balance sheet structure
Guidelines for balance sheets of public business entities are given by the International Accounting Standards Committee (now International Accounting Standards Board) and numerous country-specific organizations/companys.
Balance sheet account names and usage depend on the organization's country and the type of organization. Government organizations do not generally follow standards established for individuals or businesses.
If applicable to the business, summary values for the following items should be included in the balance sheet:[16] Assets are all the things the business own, this will include property tools, cars, etc.
AssetsCurrent assets
1.Cash and cash equivalents
2.Inventories
3.Accounts receivable
4.Prepaid expenses for future services that will be used within a year
Non-current assets (Fixed assets)
1.Property, plant and equipment
2.Investment property, such as real estate held for investment purposes
3.Intangible assets
4.Financial assets (excluding investments accounted for using the equity method, accounts receivables, and cash and cash equivalents)
5.Investments accounted for using the equity method
6.Biological assets, which are living plants or animals. Bearer biological assets are plants or animals which bear agricultural produce for harvest, such as apple trees grown to produce apples and sheep raised to produce wool.
Liabilities1.Accounts payable
2.Provisions for warranties or court decisions
3.Financial liabilities (excluding provisions and accounts payable), such as promissory notes and corporate bonds
4.Liabilities and assets for current tax
5.Deferred tax liabilities and deferred tax assets
6.Unearned revenue for services paid for by customers but not yet provided
EquityThe net assets shown by the balance sheet equals the third part of the balance sheet, which is known as the shareholders' equity. It comprises:
1.Issued capital and reserves attributable to equity holders of the parent company (controlling interest)
2.Non-controlling interest in equity
Formally, shareholders' equity is part of the company's liabilities: they are funds "owing" to shareholders (after payment of all other liabilities); usually, however, "liabilities" is used in the more restrictive sense of liabilities excluding shareholders' equity. The balance of assets and liabilities (including shareholders' equity) is not a coincidence. Records of the values of each account in the balance sheet are maintained using a system of accounting known as double-entry bookkeeping. In this sense, shareholders' equity by construction must equal assets minus liabilities, and are a residual.
Regarding the items in equity section, the following disclosures are required:
1.Numbers of shares authorized, issued and fully paid, and issued but not fully paid
2.Par value of shares
3.Reconciliation of shares outstanding at the beginning and the end of the period
4.Description of rights, preferences, and restrictions of shares
5.Treasury shares, including shares held by subsidiaries and associates
6.Shares reserved for issuance under options and contracts
7.A description of the nature and purpose of each reserve within owners' equity
Sample Small Business Balance Sheet
| Assets | Liabilities and Owners' Equity | |||
| Cash | $6,600 | Liabilities | ||
| Accounts Receivable | $6,200 | Notes Payable | $30,000 | |
| | Accounts Payable | |||
| | Total liabilities | $30,000 | ||
| Tools and equipment | $25,000 | Owners' equity | ||
| | Capital Stock | $7,000 | | |
| | Retained Earnings | $800 | | |
| | Total owners' equity | $7,800 | ||
| Total | $37,800 | Total | $37,800 | |
A really small business balance sheet lists current assets such as cash, accounts receivable, and inventory, fixed assets such as land, buildings, and equipment, intangible assets such as patents, and liabilities such as accounts payable, accrued expenses, and long-term debt. Contingent liabilities such as warranties are noted in the footnotes to the balance sheet. The small business's equity is the difference between total assets and total liabilities.
英文記事で英語を学ぶ
In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition".[1] Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business' calendar year.
A standard company balance sheet has three parts: assets, liabilities and ownership equity. The main categories of assets are usually listed first, and typically in order of liquidity.[2] Assets are followed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities.[3]
Another way to look at the same equation is that assets equals liabilities plus owner's equity. Looking at the equation in this way shows how assets were financed: either by borrowing money (liability) or by using the owner's money (owner's equity). Balance sheets are usually presented with assets in one section and liabilities and net worth in the other section with the two sections "balancing."
A business operating entirely in cash can measure its profits by withdrawing the entire bank balance at the end of the period, plus any cash in hand. However, many businesses are not paid immediately; they build up inventories of goods and they acquire buildings and equipment. In other words: businesses have assets and so they can not, even if they want to, immediately turn these into cash at the end of each period. Often, these businesses owe money to suppliers and to tax authorities, and the proprietors do not withdraw all their original capital and profits at the end of each period. In other words businesses also have liabilities.
A standard company balance sheet has three parts: assets, liabilities and ownership equity. The main categories of assets are usually listed first, and typically in order of liquidity.[2] Assets are followed by the liabilities. The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities.[3]
Another way to look at the same equation is that assets equals liabilities plus owner's equity. Looking at the equation in this way shows how assets were financed: either by borrowing money (liability) or by using the owner's money (owner's equity). Balance sheets are usually presented with assets in one section and liabilities and net worth in the other section with the two sections "balancing."
A business operating entirely in cash can measure its profits by withdrawing the entire bank balance at the end of the period, plus any cash in hand. However, many businesses are not paid immediately; they build up inventories of goods and they acquire buildings and equipment. In other words: businesses have assets and so they can not, even if they want to, immediately turn these into cash at the end of each period. Often, these businesses owe money to suppliers and to tax authorities, and the proprietors do not withdraw all their original capital and profits at the end of each period. In other words businesses also have liabilities.
英文記事で英語を学ぶ
Financial accountancy (or financial accounting) is the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders. Financial capital maintenance can be measured in either nominal monetary units or units of constant purchasing power.[1] The fundamental need for financial accounting is to reduce principal-agent problem by measuring and monitoring agents' performance and reporting the results to interested users.
Financial accountancy is used to prepare accounting information for people outside the organization or not involved in the day to day running of the company. Management accounting provides accounting information to help managers make decisions to manage the business.
In short, Financial Accounting is the process of summarizing financial data taken from an organization's accounting records and publishing in the form of annual (or more frequent) reports for the benefit of people outside the organization.
Financial accountancy is governed by both local and international accounting standards.
Basic accounting concepts
Financial accountants produce financial statements based on Generally Accepted Accounting Principles of a respective country. In particular cases financial statements must be prepared according to the International Financial Reporting Standards.
Financial accounting serves following purposes:
* producing general purpose financial statements
* provision of information used by management of a business entity for decision making, planning and performance evaluation
* for meeting regulatory requirements
Graphic definition
The accounting equation (Assets = Liabilities + Owners' Equity) and financial statements are the main topics of financial accounting.
The trial balance which is usually prepared using the Double-entry accounting system forms the basis for preparing the financial statements. All the figures in the trial balance are rearranged to prepare a profit & loss statement and balance sheet. There are certain accounting standards that determine the format for these accounts (SSAP, FRS, IFRS). The financial statements will display the income and expenditure for the company and a summary of the assets, liabilities, and shareholders or owners' equity of the company on the date to which the accounts were prepared.
Assets, Expenses, and Withdrawals have normal debit balances (when you debit these types of accounts you add to them), remember the word AWED which represents the first letter of each type of account.
Liabilities, Revenues, and Capital have normal credit balances (when you credit these you add to them).
0 = Dr Assets Cr Owners' Equity Cr Liabilities
. _____________________________/\____________________________ .
. / Cr Retained Earnings (profit) Cr Common Stock \ .
. _________________/\_______________________________ . .
. / Dr Expenses Cr Beginning Retained Earnings \ . .
. Dr Dividends Cr Revenue . .
\________________________/ \______________________________________________________/
increased by debits increased by credits
Crediting a credit
Thus -------------------------> account increases its absolute value (balance)
Debiting a debit
Debiting a credit
Thus -------------------------> account decreases its absolute value (balance)
Crediting a debit
When you do the same thing to an account as its normal balance it increases; when you do the opposite, it will decrease. Much like signs in math: two positive numbers are added and two negative numbers are also added. It is only when you have one positive and one negative (opposites) that you will subtract.
■単語
financial
[形]
1 財務の，財政上の，会計の，金銭出納（上）の；金銭上の
financial affairs
財務，金銭問題
the financial year
((英))会計年度（▼3月31日で終わる. ⇒((米))the FISCAL YEAR）
financial conditions
（企業の）財務状況
financial aid
((米))（学生向けの）教育資金融資
a financial incentive
報奨金.
2 金融の
a financial asset
金融資産
a financial liability
金融負債
financial services
金融サービス（業）
the financial system
金融システム
financial circles [=the financial world]
金融界，財界
financial institutions
金融機関
financial markets
金融市場
financial instruments
金融商品.
3 （クラブ・組合などの）会費を払う（⇔honorary）
a financial member
通常会員.
4 ((豪・NZ俗))金(かね)を持っている.
━━[名] ((〜s)) 金銭出納，会計
audit financials
liability
[名]
1 ((通例-tiesで単数扱い))借金，負債，債務（⇔assets）；会計（特に貸借対照表上の）負債（項目）
make good one's liabilities
負債を払う
a financial liability
金融負債.
2 ((単数形))((略式))不利となるもの［人］，障害，マイナス.
3 [U]
(1)（…に対する）法的責任，責務((for ...))；（…する）義務((to do))
limited [unlimited] liability
有限［無限］責任
liability for an accident
事故の責任.
(2)（…の）傾向，（…に）なりやすい性質，（…を）免れないこと((to ...))
liability to disease
病気になりやすいたち.
Equity
[名]
1 [U]((形式))公平さ，公正(fairness)；公明正大；無私無欲
For the sake of equity, he should pay for the damage.
公正を期するなら損害は彼が弁償すべきだ.
2 財産物件の純粋価格：諸経費を差し引いた額.
3 株式
equity capital
株式資本，自己資本.
4 法律
(1)衡平法：慣習法(common law)の欠点を公正と正義で補う英米法の体系.
(2)[U]衡平裁定.
5 ((E-))((英))俳優組合(Actors' Equity Association).
Liquidity
[名][U]
1 ((まれ))流動性［状態］.
2 商業換金性，流動性
liquidity risk
流動性リスク
excess liquidity
過剰流動性.
debits
借方欄.
credits
信用, 名誉
［１］信用, 信頼,（［類語］特に声望や過去の実績などに基づく信用;→belief）.
He has good 〜 in the community.
彼は地域で信頼されている.
put [place] 〜 in
..を信用する.
gain [lose] 〜 (with a person)
（人の）信用を得る[失う].
I can't give 〜 to such rumor.
そんなうわさは信用できない.
［２］よい評判, 信望;名声, 功績の認識, 名誉.
a man of 〜
声望家.
get 〜 for an invention
発明の功績を認められる.
Give 〜 where it is due.
（どんな人にでも）功績は功績として正当に評価すべきだ.
Some of the 〜 should go to Dick.
その功績の幾分かはディックに帰すべきものだ.
He deserves much of the 〜.
その功績の多くは当然彼にある.
［３］【名誉になるもの】〈普通, 単数形で〉名誉になる人[物事], 声価を増すもの,〈to..の〉.
Being at the top of his class, Robert is a 〜 to his family.
クラスで1番なのでロバートは一家の誉れだ.
［４］〈〜s〉＝CREDIT titles（→複合語）.
［５］【成績, 寄与の認定】米（特に大学での）課目履修認定;履修単位.
get two 〜s for French
フランス語2単位を取得する.
商取引上の信用
［６］掛け, 信用貸し[販売], 融資, クレジット;（信用で買ったものの代金の）支払い猶予期間.
a letter of 〜
商信用状.
Do you give 〜?
付けはききますか.
No 〜 (given).
掛け売りお断り店頭の掲示.
on 〜
（→成句）.
6months' 〜
6か月の支払い猶予期間.
How will you pay, sir—cash or 〜 ?
支払い方法はどのようにしますか, 現金ですかクレジットカードですか.
［７］（商取引上の）信用度.
Her 〜 is good.
彼女の信用度は高い.
［８］【貸し金】（a）（銀行などの）預金残高.
I have 〜 at the bank.
私はその銀行に預金があります.
My bank account is in 〜.
私の銀行口座には残高がある.
（b）〈形容詞的〉（銀行）預金の.
He has a 〜 balance of $10,000.
彼には1万ドルの預金残高がある.
［９］簿記貸し方（記載）（credit side）帳簿で右側の欄;debit.
Put this on the 〜 side.
これは貸し方に記入しなさい.
d a prson [thng] crdit＝d crdit to a prson [thng]
〔人[物]〕の名誉になる.
do 〜 to one's school
（優れた事をして）学校の誉れとなる.
gve a prson crdit for..
（1）人が..を持っている[..である, ..する]と信じる.
We gave you 〜 for more sense than that.
我々は当然君がもっと分別があるものと信じていた.
He's more generous than I gave him 〜 for.
彼は思ったより金離れのいい人だ.
（2）..を人の功績にする.
He was given no 〜 for the part he played in the experiment.
彼はその実験で彼が果たした役割を少しも認めてもらえなかった.
on crdit
掛けで, 信用貸しで.
buy [sell] on 〜
掛けで買う[売る].
on the crdit sde
（1）→ ［９］
（2）良い点を挙げれば, 明るい面としては.
tke (the) crdit (for..)
（..を）自分の手柄にする.
*to a prson's [one's] crdit
（1）人の信用を増して, 名誉になって;人の功績[名前]で.
It's to your 〜 that you told the truth.
君が真実を話したのは立派だ.
a poet with three Faber volumes to his 〜
フェイバー社からすでに3冊詩集を出している詩人.
I already have ten screenplays to my 〜.
私はすでに10本のシナリオを書いている.
（2）簿記人の貸し方に.
［１］を信じる, 信用する.
I found her story hard to 〜.
彼女の話は信じ難かった.
［２］が持っていると信じる〈with..〔性質など〕を〉;がした（功績がある）と信じる〈with doing..を〉.
He is 〜ed with bringing the company back into the black.
彼は会社を再び黒字にした功があると信じられている.
Credit me with a little common sense!
私にだって少しは常識があると思ってください.
［３］〔名誉, 行為など〕を帰する〈to..に〉.
Mr. Smith 〜s his success to his wife.
自分の成功は妻のおかげだとスミス氏は思っている.
［４］簿記を貸し方に記載する;〔人〕に信用貸しする, 用立てる,〈with..〔金〕を〉;〔金〕を信用貸しする〈to..〔人〕に〉.
〜 a person with $100 [〜 $100 to a person]
人に100ドル用立てる.
［５］米 に履修証明[単位]を出す〈with..の〉.
〔［語源］CRED「信じる」: credence, credible, credit, credulous; discredit;credo, creed〕
crdit accunt
英掛け売り勘定（米charge account）.
crdit breau
信用調査所→CREDIT ratingを調査する.
crdit crd
クレジットカード（話 plastic (money)）.
crdit crnch
＝CREDIT squeeze
crdit lmit
＝CREDIT line （2）
crdit lne
（1）提供者[著作権者]名映画, テレビ番組, 出版物などに添える.
（2）信用限度（額）（lne of crdit）.
crdit nte
商貸し方票返品した際の受取証;これで同価格の別の商品が買える.
crdit rting
信用度格付け個人又は法人の支払い能力などの評価.
crdit sle
掛け売り, 信用販売.
crdit sde
＝ ［９］
crdit squeze
経金融引き締め（政策）.
crdit ttles
映・テレビクレジットタイトル字幕に示される製作者・監督・出演者・その他の関係者の姓名.
crdit trnsfer
銀行口座振替.
crdit nion
信用組合.
crdit vucher
米＝CREDIT note
Assets
[名]
1 （…にとって）役にたつもの［こと］，価値あるもの((to, for ...))；長所，美点（⇔liability）
an asset in negotiation
交渉の際にプラスになるもの
count beauty as an asset
美しいことを利点と心得る
He is a most valuable asset to the firm.
彼は会社にとって貴重な人材だ.
2 資産の一項目，（1個の）財産.
3 ((〜s))
(1)流動資産；資産，財産
fixed [intangible, net] assets
固定［無形，純］財産
cultural assets
文化財
seize [take over] the assets of ...
…の財産を接収する.
(2)（債務弁済に充当される）財産.
(3)（特に負債・資本に対し）資産［財産］項目. ⇒PROPERTY[類語]
(4)法律（死者の債務・遺贈に充当されるべき）遺産.
4 情報提供者.
assets and liabilities
資産と負債；((比喩))利点と欠点，長所と短所.
［古フランス語←ラテン語ad satis（十分に）. 「十分に支払える(have assets)」から］
Expenses
[名]
1 [U][C]費用，出費；支出；金のかかるもの［事］，物いり. ⇒COST[名]1
free of expense
無料で
all expenses paid
費用相手持ちで
at public expense
公費で
at any expense
どんなに費用がかかっても
at an expense of 3 dollars
3ドル出して
without expense to a person
人に金銭的負担をかけずに
spare no expense
金に糸目をつけない
Sending a child to college is quite an expense.
子供を大学にやるにはとても金がかかる.
2 ((〜s))経費；必要経費，…費；（俸給外の）手当
traveling expenses
旅費
school expenses
学費
current [running] expenses
経常費
It's all on expenses.
それはすべて会社持ちだ.
3 損失，喪失；犠牲.
at the expense of ...／at a person's expense
(1)〈人の〉金［費用］で；〈人に〉迷惑をかけて；〈人を〉だしにして
profit at the expense of another
人の金でもうける
have a good laugh at a person's expense
人をだし［たね］にして大いに笑う.
(2)…を犠牲にして
at the expense of one's health
健康を犠牲にして.
(3)…という犠牲を払って
at the expense of one's illness
病気になるという犠牲を払って.
go to great [a lot of] expense to do／go to the expense of doing
Withdrawal
[名]
1 [U][C]引っ込める［引き下がる，引っ込む］こと；退出；脱退；（約束・前言などの）取り消し，撤回；（通貨などの）回収；（預金の）引き出し，引き出した金，撤退，撤兵；（自発的な）退学
complete withdrawal
完全撤退
make large withdrawals from the bank
銀行から多額の預金引き出しを行う.
2 [U]（麻薬などの）使用中止((of, from ...))；禁断症状(withdrawal symptoms).
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