ΕΛΛΗΝΙΚΗ ΔΗΜΟΚΡΑΤΙΑ Ανώτατο Εκπαιδευτικό Ίδρυμα Πειραιά Τεχνολογικού Τομέα Ξένη Ορολογία Ενότητα 4: The Accounting Process 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. 2
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. 3
Σκοποί ενότητας In this section you will learn the language you need to understand the basics of an accounting system - explain what accounting is - discuss the accounting equation and the concept of double-entry bookkeeping - the steps of the accounting cycle how to express increase and decrease how to use the passive form of verbs 4
The Accounting Process
Accounting Defined Accounting is the process of systematically collecting, analyzing, and reporting financial information about a business entity to a broad range of users, such as shareholders, government or bank officials, and managers. Accounting is often confused with bookkeeping, which is a mechanical process that records the routine financial activities of a business. Accounting includes bookkeeping but goes well beyond its scope. Accountants prepare financial statements, conduct audits, design accounting systems, prepare forecasts and budgets, and provide tax services.
Accounting Defined Glossary accounting: art of analyzing the financial position and operating results of a business/ λογιστική report: to give an account (of); describe /αναφέρω, συντάσσω έκθεση πάνω σε κάτι business entity: an organization that has a legal identity separate from those of its members/επιχειρηματική οντότητα shareholder: a holder of shares, especially in a corporation/ μέτοχος bookkeeping: the work or skill of keeping account books or systematic records of money transactions / τήρηση λογιστικών βιβλίων audit: an inspection, correction, and verification of business accounts, conducted by an independent qualified accountant/ λογιστικός έλεγχος forecast: prediction; calculation in advance/ πρόβλεψη budget: an itemized summary of expected income and expenditure of a country, company, etc, over a specified period, usually a financial year/ προυπολογισμός tax: a sum of money demanded by a government, levied upon incomes, property, sales, etc./ φόρος
The Accounting Equation Businesses usually own assets. Assets are things that can be used to generate revenue through the sale of goods and services. Assets include cash, inventory, buildings, equipment, patents, and the like. All assets of a business are either owned by the business owners or are subject to the claims of creditors. Creditors include anyone who has loaned money or extended credit to the business. Loans and other forms of extended credit are called liabilities. The portion of assets not subject to claims by creditors is called equity. In the GAAP framework there must be a continuous equilibrium between assets on the one side and the total of liabilities and equity on the other side. This is represented by the fundamental equation of accounting: Assets = Liabilities + Equity
The Accounting Equation Glossary accounting equation: the basis for the accounting process/ λογιστική εξίσωση assets: the items of value that a company owns/ το ενεργητικό μιας επιχείρησης liabilities: a company s debts and obligations-what it owes to others/ το παθητικό μιας επιχείρησης equity: the interest of shareholders in a company/ καθαρή θέση μιας επιχείρησης equilibrium: a state of rest or balance due to the equal action of opposing forces/ κατάσταση ισορροπίας
Double-Entry Bookkeeping Under the double-entry system every business transaction is recorded in at least two accounts to maintain the balance shown in the accounting equation. One account will receive a "debit" entry, meaning the amount will be entered on the left side of that account. Another account will receive a "credit" entry, meaning the amount will be entered on the right side of that account. Although the system is referred to as double-entry, a transaction may involve more than two accounts. An example of a transaction that involves three accounts is a company's loan payment to its bank of $300. This transaction will involve the following accounts: Cash, Notes Payable, and Interest Expense
Double-Entry Bookkeeping Glossary account: accounting records of financial transactions/λογαριασμός double-entry: the term means that every transaction affects at least two accounts/ διπλογραφία debit: acknowledgment of a sum owing by entry on the left side of an account/ χρέωση credit: acknowledgment of an income, liability, or capital item by entry on the right-hand side of an account /πίστωση entry: the act of entering or recording something in a book/ καταχώρηση σε λογιστικά βιβλία
The Accounting Cycle Raw data are transformed into financial statements in five steps. The first three analysis, journalizing, and posting- are performed throughout the accounting period. The other two preparation of the trial balance and financial statements at the end of the accounting period.
The Accounting Cycle Glossary financials: data about a company contained in source documents, such as receipts, invoices etc./οικονομικές συναλλαγές journalize: the recording of a transaction in a journal/καταχωρώ στο ημερολόγιο journal: a chronological record of business transactions/ημερολόγιο ledger: the complete collection of all of the accounts of a company/καθολικό posting: the process of transferring journal entries to the ledger/καταχώριση στο καθολικό trial balance: a summary of the balances of all general ledger accounts at the end of the accounting period/ (δοκιμαστικό) ισοζύγιο
Τέλος Ενότητας