Download III. Financial Statements

ΕΛΛΗΝΙΚΗ ΔΗΜΟΚΡΑΤΙΑ
Ανώτατο Εκπαιδευτικό Ίδρυμα Πειραιά
Τεχνολογικού Τομέα
Ξένη Ορολογία
Ενότητα 3: Financial Statements
Ευαγγελία Κουτσογιάννη
Τμήμα Λογιστικής & Χρηματοοικονομικής
Άδειες Χρήσης
• Το παρόν εκπαιδευτικό υλικό υπόκειται σε άδειες
χρήσης Creative Commons.
• Για εκπαιδευτικό υλικό, όπως εικόνες, που υπόκειται
σε άλλου τύπου άδειας χρήσης, η άδεια χρήσης
αναφέρεται ρητώς.
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Χρηματοδότηση
• Το παρόν εκπαιδευτικό υλικό έχει αναπτυχθεί στα πλαίσια
του εκπαιδευτικού έργου του διδάσκοντα.
• Το έργο «Ανοικτά Ακαδημαϊκά Μαθήματα στο Ανώτατο
Εκπαιδευτικό Ίδρυμα Πειραιά Τεχνολογικού Τομέα» έχει
χρηματοδοτήσει μόνο την αναδιαμόρφωση του
εκπαιδευτικού υλικού.
• Το έργο υλοποιείται στο πλαίσιο του Επιχειρησιακού
Προγράμματος «Εκπαίδευση και Δια Βίου Μάθηση» και
συγχρηματοδοτείται από την Ευρωπαϊκή Ένωση (Ευρωπαϊκό
Κοινωνικό Ταμείο) και από εθνικούς πόρους.
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Σκοποί ενότητας
In this section you will
• acquire specific vocabulary associated with
financial statements and depreciation
• revise verb tenses
• learn how to describe a process
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Financial Statements
The Balance Sheet
• The balance sheet is a summary of a firm’s assets,
liabilities, and owner’s equity accounts at a particular time.
This financial statement must demonstrate that the
accounting equation is in balance.
• On the balance sheet, assets are categorized as current,
fixed, or intangible. Similarly, the firm’s liabilities are
divided into two groups: current and long-term liabilities.
• For a sole proprietorship or partnership, the owner’s equity
is shown as the difference between assets and liabilities; it
is reported by the owner’s name in the last section of the
balance sheet. For a corporation, the value of common
stock, preferred stock, and retained earnings is reported in
the stockholder’s equity section.
Sample Balance Sheet
Source: Accounting Coach (2013)
Balance Sheet
Glossary
• balance sheet: statement of financial position/ισολογισμός
• owners’ equity: the amount of the funds contributed by the
owners (the stockholders) plus the retained earnings (or
losses)/ ίδια κεφάλαια, καθαρή θέση επιχειρηματία
• current assets: cash and other assets that can be easily
liquidated (converted into cash)/κυκλοφορούν ενεργητικό
• fixed assets: assets that will be held or used for a period
longer that a year/πάγιο ενεργητικό
• intangible assets: they do not exist physically but have a value
based on legal rights; they include patents, copyrights,
trademark, and goodwill/ ασώματο ενεργητικό
Balance Sheet
Glossary
• current liabilities: debts that will be paid in one year or
less/βραχυπρόθεσμες υποχρεώσεις
• long-term liabilities: debts that need not be repaid for at least one
year/μακροπρόθεσμες υποχρεώσεις
• retained earnings: the portion of a business’s profits not distributed
to stockholders / αδιανέμητα κέρδη
• common stock (or ordinary shares): owners’ claims on profits and
assets are subordinate to the claims of others/ κοινές μετοχές
• preferred stock (or preference shares): stock whose owners usually
do not have voting rights, but whose claims on dividends and assets
precede those of common-stock owners/ προνομιούχες μετοχές
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The Income Statement
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An income statement is a summary of a firm’s revenues and
expenses during a specified accounting period. Income
statement consists of four sections:
Revenues includes gross income from the sales of products or
services. The gross amount is reduced by sales returns, sales
allowances and sales discounts.
Cost of goods sold are the cost of the goods a firm has sold
during an accounting period.
A firm’s operating expenses are those costs that do not result
directly from the purchase or manufacture of the products it
sells.
Net income is the profit earned (or the loss suffered) by a firm
during an accounting period, after all expenses have been
deducted from revenues.
The Income statement
Glossary
• income statement: the statement of profit and loss/κατάσταση εσόδων
και εξόδων, λογαριασμός αποτελεσμάτων χρήσης
• gross income: the total earnings of all goods and services sold/μικτό,
ακαθάριστο εισόδημα
• net income: the actual earnings received by a firm for the goods and
services it has sold, after adjustment for returns, allowances, and
discounts/καθαρό εισόδημα, κέρδος
• sales allowances: price reductions offered to customers who accept
slightly damaged merchandise/ επιχορήγηση, έκπτωση
• sales returns: merchandise returned to the firm by its
customers/επιστροφή εμπορευμάτων
• sales discounts: price reductions offered by manufacturers and suppliers to
customers who pay their bills promptly/ έκπτωση
• operating expenses: selling expenses related to a firm’s marketing
activities and administrative expenses, such as salaries and the cost of
maintaining offices/ λειτουργικά έξοδα
Depreciation
Depreciation is the process of apportioning the cost of a fixed
asset over the period during which it will be used. The portion
being used up is reported as depreciation expense on the
income statement. In effect, depreciation is the transfer of a
portion of an asset’s cost from the balance sheet to the income
statement during each year of the asset’s life.
To compute depreciation expense, accountants consider three
major factors:
• Cost of an asset: the amount that a company paid to purchase
the asset.
• Estimated salvage value: the amount of money the company
expects to recover on the date a plant asset is sold, or traded in.
• Estimated useful life of the asset: the time the company owing
the asset intends to use it.
Depreciation
Glossary
• depreciation: lessening of value or
estimation/απόσβεση
• depreciation expense: The portion of a tangible
asset that has been consumed or expired, and has
thus become an expense/ποσοστό απόσβεσης
• transfer : changing position/μεταφορά
• recover: get back/ ανακτώ, ξανακερδίζω
• salvage value: the estimated value of an asset at the
end of its useful life/υπολλειματική αξία
The Statement of Cash Flows
The statement of cash flows illustrates the effect on cash of the operating,
investing, and financing activities of a company for an accounting period.
The Cash Flow Statement
The statement classifies cash receipts and disbursements as
operating, investing, and financing.
•
Operating activities include the cash flows of transactions
that determine net income, e.g. cash received from sales of
goods and services, or payments to acquire inventory.
•
Investing activities include transactions involving the
acquisition of non-current assets, e.g. sale or purchase of
property or securities.
•
Financing activities include cash inflows and outflows of
transactions involving creditors and owners, e.g. cash received
from issuing stocks and bonds, or payments of dividends.
Cash Flow Statement
Glossary
• cash flow: money that moves in and out of a business/χρηματική ροή
• cash flow statement: it provides information concerning a company’s cash
receipts and cash payments / κατάσταση ταμειακών ροών
• cash receipts: money actually received, not just earned (revenues)/
εισπράξεις χρημάτων
• disbursements: payments /πληρωμή, δαπάνη
• operate: perform a function; work / λειτουργώ
• invest (in): to lay out (money or capital in an enterprise with the
expectation of profit/ επενδύω
• finance: provide or obtain funds, capital or credit/ χρηματοδοτώ
• transactions: business deals/ εμπορικές συναλλαγές
Τέλος Ενότητας