外書購読　Bookkeeping

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外書購読　Bookkeeping

田中智之　先生　2003年2月11日

If done properly this must find the difference.

もし適切に行われれば、これは違いを見つけるに違いありません。

We will finish today with an example of a trial balance, a series of postings, and the new trial balance. The new trial balance is given after the summary of today's work, but prepare it for yourself before checking the answer.

私たちは、一つ試算表の例、一連の転記および新しい試算表で今日終了するでしょう。新しい試算表は今日の仕事の要約の後に与えられます、しかし答えをチェックする前に自分でそれを準備します。

Cash sales of ￡ 400000 are made. Cost of sales is 50% of sales. ￡300000 is spent on overheads, half on credit and half for cash. ￡600000 fixed assets are purchased for cash.

￡ 400000 の現金売買が作られます。販売のコストは販売の 50% です。￡ 300000 は諸経費上で尽 ( つ ) きます、この中の半分は銀行に預金し、半分は現金で使いました。￡ 600000 の固定資産が現金用に購入されます。

• A trading business

So far we have only considered businesses that do not hold stock. It is now time to see how the accounts deal with this problem.

You will, I hope, quickly see that the profit and loss account must only show the cost of the goods sold in the period. A wrong figure, perhaps a ridiculous figure, will be obtained if the cost of goods purchased in the period is used.

The cost of goods sold in the period is obtained in the following way.

• Take the value of stock at the beginning of the period

• Add purchases during the period.

• Subtract the value of stock at the end of the period.

The value of stock at the beginning and end of the period may be established by stocktaking. If financial controls are extremely good they may be calculated figures, with occasional stock checks to prove the system. If there has been any theft or other form of stock shrinkage, stock will be reduced and consequently the cost of sales will be increased. The principle is illustrated by the profit and loss account of school tuck shop. There are no costs other than the cost of the food sold. The profit and loss account is given below.

• The concept of ownership

A sset and liability accounts are relatively easy to understand, but you may have a problem understanding the capital accounts. Sometimes there is just one account called the capital account. In other cases, there may be several accounts: share capital account, revenue reserves account, and so on.

The capital accounts represent the money invested in the business by the owners. The owners are a different entity to the business itself. If the company is wound up, and if the assets and liabilities are worth exactly book value, the owners will be paid out exactly the value of the capital accounts.

This is easy to understand in the case of a public company. If you own shares in Barclays Bank plc you are not the same as the bank. The capital accounts in the books of Barclays Bank plc represent the debt owing to you and to the other shareholders.

• Fixed assets

These are assets whose use generates benefit to the business in the long term. This is usually taken to mean a year or more. Because of their fixed and long-term nature, they are grouped separately from current assets, whose value can be expected to be realized in the short term.

It is normally necessary to depreciate fixed assets and this was studied in detail earlier in the week. In practice, it is rare for fixed assets to be actually worth exactly their written down value in the books. The reasons are:

1. The arbitrary nature of the depreciation rules

2. Individual circumstances

3. Inflation

Examples of fixed assets are:

• Freehold property

• Leasehold property

• Plant and equipment

• Computers

• Fixtures and fittings

• Motor vehicles

• Current assets

These are assets whose value is available to the business in the short term. This is either because they are part of the trading cycle (such as stock and trade debtors) or because they are short-term investments (such as a 90-day bank deposit account). The definition of ‘short term' is usually taken to be less than a year.

Debtors are usually current assets. The definition of a debtor is a person owning money to the business. Such as a customer for goods sold. Examples of current assets are:

• Stock

• Trade debtors

• Bank accounts

• Short-term investments

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外書購読 Bookkeeping

外書購読　Bookkeeping