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还未开始练习的小伙伴先别慌！为了便于大家复习，学长整理了一些会计专硕专业相关的英语问答（财务会计+财务管理），赶紧练习起来吧！  

一.财务会计篇

1.What is Accounting？What is the primary goal of financial accounting？什么是会计？财务会计的主要目标是什么？

Accounting is the process of identifying and recording business events as well as presenting and communicating this financial information to end-users in a meaningful way. In other words，accounting is more than just recording the debits and credits of transactions. Accounting is really a system or process of recording information and displaying it to people in an understandable way，so that they can make decisions based on the financial information.

The primary goal of financial accounting is to reflect the fiduciary responsibility and provide useful information for decision-making.

2.What are the four assumptions of accounting？会计四大假设是什么？

Accounting basic assumption，also known as accounting basic premise，is the premise of enterprise accounting recognition，measurement，record，and report. It includes four assumptions: accounting entity，going concern，accounting period and monetary measurement.

3.What are the requirements for the quality of accounting information？会计信息质量要求有哪些？

The requirement of accounting information quality are the basic norms for high-quality accounting information provided in corporate financial accounting reports and are the basic characteristics that should make the accounting information provided in financial accounting reports useful for investors and other users to make decisions，including reliability，relevance，comprehensibility，comparability，substance is more important than form，importance，prudence and timeliness.

4.What is Accounting reliability？什么是可靠性原则？

Accounting reliability refers to whether financial information can be verified and used consistently by investors and creditors with the same results. Basically，reliability refers to the trustworthiness of the financial statements.

5.What is the principle of intelligibility？什么是可理解性原则？

The accounting information provided by the enterprise should be clear and clear，so that users of financial reports can understand and use it.

6.What is the timeliness principle？什么是及时性原则？

Enterprises are required to perform accounting confirmation，measurement and reporting of transactions or events that have occurred in a timely manner，without advancing or delaying.They should collect accounting information in time，process accounting information in time，and transmit accounting information in time.

7.What is the Relevance Principle？什么是相关性原则？

The relevance principle is an accounting principle that states in order for financial information to be useful to external users，it must be relevant. GAAP goes on to describe the concept of relevance.Relevant information is useful，understandable，timely，and needed for decision making.

8.What is the principle of comparability？什么是可比性原则？

（1）The same or similar transactions or events that occur in the same enterprise in different periods shall adopt consistent accounting policies and shall not be changed at will. If it is really necessary to change，it should be stated in the notes

（vertically comparable）.

（2）For the same or similar transactions or events in different enterprises，the prescribed accounting policies should be adopted to ensure that the accounting information is consistent and comparable（horizontally comparable）.

9.What is the principle of substance over form？什么是实质重于形式原则？

It requires enterprises to perform accounting confirmation，measurement and reporting in accordance with the economic substance of transactions or events，and should not be based solely on the legal form of transactions or events.

10.What is the prudence concept？什么是谨慎性原则？

It means enterprise should maintain the necessary caution when conducting accounting calculations，and must not overestimate assets or income，underestimate liabilities or expenses，make secret reserves.

11.What is the importance principle？什么是重要性原则？

All the important accounting matters that have a greater impact on assets，liabilities，profit and loss，and thereby affecting users to make reasonable judgments，must be handled in accordance with prescribed accounting methods and procedures，and be fully disclosed in the financial report separately. As for the secondary accounting matters，they can be appropriately merged and simplified under the premise of not affecting the authenticity of accounting information and misleading users to make correct judgments.

12.What's the accounting equation？什么是会计等式？

Accounting equation is an equation that indicates the basic relationship between accounting elements. There are two accounting equations: 

One is the static equation：Assets equal to liabilities plus equity，which can reflect the financial situation of an enterprise and is the basis for preparing the balance sheet.

The second is the dynamic equation: Profit equals income minus expense，which reflects the operating results of the enterprise and is the basis for compiling the profit statement.

13.What are Financial Statements？什么是财务报告？

Financial statements are reports prepared by a company's management to present the financial performance and position. A general set of financial statements usually includes a balance sheet，income statements，statement of owner's equity，and statement of cash flows.

14.What is accounting elements？会计要素是什么？包括哪些？

Accounting elements are financial accounting objects and their basic classifications determined according to the economic characteristics of transactions or events. 

Including assets，liabilities，owner's equity，income，expenses，and profits.

15.What is an Asset？What does it include？资产的定义是什么？资产包括什么？

An asset is a resource that owned or controlled by a company and will provide a benefit in current and future periods for the business.In other words，it's something that a company owns or controls and can use to generate profits today and in the future. 

Assets include intangible assets，fixed assets，and current assets.

16.What are the recognition conditions of accounting elements？资产的确认条件是什么？

Apart from matching the definition of assets，there are two extra criteria of assets：

The economic benefits related to the resource are likely to flow into the enterprise；

The cost or value of the resource can be measured reliably.

17.What is liability？什么是负债？What does it include？负债包括什么？

It refers to the current obligations of an enterprise formed by past transactions or events，which are expected to cause economic benefits to flow out of the enterprise.

Liability includes: Current liabilities and non-current liabilities.

It must meet the two criteria at the same time before recognizing an obligation as a liability：

The economic benefits related to the obligation are likely to flow out of the enterprise；

The economic benefits that will flow out in the future can be reliably measured.

18.What is Owner's Equity？什么是所有者权益？What is the confirmation condition？所有者权益的确认条件是什么？

Owner's equity，often called net assets，is the owners' claim to company assets after all of the liabilities have been paid off. In other words，if the business assets were liquidated to pay off creditors，the excess money left over would be considered owner's equity.

Owner's equity reflects the owner's remaining equity in the enterprise，so the confirmation and measurement of owner's equity mainly depends on the confirmation and measurement of assets and liabilities.

19.What are Retained Earnings？什么是留存收益？

Retained earnings is the cumulative profits and losses of a corporation less its dividends paid to shareholders. In other words，it's the cumulative amount of money left over after all of the expenses and dividends are paid.

20.What is Income/Revenue？什么是收入？收入的确认原则是？

The gross inflow of economic benefits arising in the course of the ordinary activities of an entity，and those inflows would result in increases in equity，other than increases relating to contributions from equity participants.

 There are five principles or steps for confirming the revenue according to the IFRS 15：

1）Identify the contracts with a customer.

2）Identify the performance obligations in the contract. Performance obligations are promises in a contract to transfer to a customer goods or services that are distinct.

3）Determine the transaction price. The transaction price is the amount of consideration to which the entity expects to be entitled in exchange for transferring promised goods or services to a customer.

4) Allocate the transaction price to each performance obligation on the basis of the relative stand-alone selling prices of each distinct good or service promised in the contract.

5) Recognize revenue when a performance obligation is satisfied by transferring a promised good or service to a customer, which is when the customer obtains control of that good or service.

21.What is Expense？What is the confirmation condition？费用的确认条件是？

Expense refers to the outflow of profits，which happened in the daily operation of corporate. It would lead the decrease of owners' entity and are not related to the distribution of economic profits.

Expenses need to satisfy the following conditions：

The economic benefits related to expenses should likely flow out of the enterprise；

The result of the outflow of economic benefits from the enterprise will lead to a decrease in assets or an increase in liabilities；

The outflow of economic benefits can be reliably measured.

22.What is profit？什么是利润？Where does it come from？利润来源于什么？What are the confirmation conditions？利润的确认条件是什么？

Profit refers to the operating results of an enterprise in a certain accounting period.

It comes from the net amount of income minus expenses，and the gains and losses directly included in the current profit.

The recognition of profit mainly depends on income and expenses，as well as the recognition of gains and losses. The determination of its amount also mainly depends on the measurement of income，expenses，gains and losses.

23.What is inventory？存货是什么？

Inventory refers to the finished products or commodities that an enterprise holds for sale in daily activities，the products in the production process，and the materials consumed in the production process or the process of providing labor services.

24.What are Fixed Assets？固定资产是什么？What is the characteristic of a Fixed Asset？固定资产的特征是什么？

Fixed asset means a long-term resource that provides operational value to a company for more than one accounting period. Examples of fixed assets include computers，buildings，and land.

Fixed Asset has several characteristics that distinguish it from other assets. The characteristics of fixed assets include tangible，used in operations and long-term Life.

25.What is intangible asset？无形资产是什么？What is its characteristic？其特征是什么？

Refers to the identifiable economic resources that are owned or controlled by an enterprise without physical form，and there is greater uncertainty in how much economic benefits they bring to the enterprise.

Characteristics：

No physicality: different from fixed assets

Long-term nature: different from current assets that have no physical form such as accounts receivable

Uncertainty: different from bond investment and long-term equity investment

Identifiable: different from goodwill

26.What is accounting subject？会计科目是什么？

It classifies the specific content of accounting elements for further measurement.

27.What are Financial Statements？什么是财务报告？What is the role of financial statements？财务报告的作用是什么？

Financial statements are reports prepared by a company's management to present

the financial performance and position at a point in time. A general set of financial statements usually includes a balance sheet，income statements，statement of owner's equity，and statement of cash flows.

Financial statements are the main source of financial information for most decision makers. That is why financial accounting and reporting places such a high emphasis on the accuracy，reliability，and relevance of the information on these financial statements.

28.What is a Balance Sheet？What is the role of the balance sheet？什么是资产负债表？资产负债表的作用是什么？

The balance sheet uses the accounting equation（assets equals to liabilities plus owner's equity）to show a financial picture of the business on a specific day. In other words，a balance sheet lists all of the assets that a company owns as well as the debts owed by the company and the owner's interest or ownership share in the company.

Investors and creditors can use the balance sheet to analyze how companies are funding capital assets and operations as well as current investor information.

29.What is an Income Statement？What is the role of the Income Statement？什么是利润表？利润表的作用是什么？

The income statement is a report made by company management that shows the revenue，expenses，and net income or loss for a period.

Users can analyze the income statement to see if companies are operating efficiently and producing enough profit to fund their current operations and growth.

30.What is the Statement of Owner's Equity？什么是所有者权益表？

The statement of owner's equity is a financial statement that reports the changes in the equity section of the balance sheet during an accounting period. In other words，it reports the events that increased or decreased stockholder's equity over the course of the accounting period.

31.What is cashflow statement？什么是现金流量表？

The cash flow statement is a statement reflecting the inflow and outflow of cash and cash equivalents in a certain accounting period.

32.What is trade discount and cash discount？商业折扣和现金折扣分别是什么？

Trade discount refers to the reduction in list price known as discount，allowed by a supplier to the consumer while selling the product generally in bulk quantities.

Cash discount is a reduction in the amount of invoice allowed by the seller to the buyer in return for immediate payment is a cash discount.

二、财务管理篇

1.What is financial management？什么是财务管理？

Financial management refers to the strategic planning，organizing，directing，and controlling of financial undertakings in an organization or an institute. It also includes applying management principles to the financial assets of an organization，while also playing an important part in fiscal management.

2.What is the objectives of financial management？财务管理目标是？

The objectives of financial management involved：

a）Maintaining enough supply of funds for the organization；

b) Ensuring shareholders of the organization to get good returns on their investment；

c）Optimum and efficient utilization of funds；

d）Creating real and safe investment opportunities to invest in.

3.What are the financial activities？财务活动是？

Corporate financial activities is the general term for corporate capital revenue and expenditure activities based on cash revenue and expenditure. The financial activities of an enterprise can include the following four aspects：

Financial activities caused by corporate financing.

Financial activities caused by corporate investment. 

Financial activities caused by business operations.

Financial activities caused by enterprise allocation

4.Why is Financial Management important？为什么财务管理很重要？

a）Helps organizations in financial planning；

b）Assists organizations in the planning and acquisition of funds；

c） Helps organizations in effectively utilizing and allocating the funds received or acquired；

d）Assists organizations in making critical financial decisions；

e）Helps in improving the profitability of organizations；

f）Increases the overall value of the firms or organizations；

g）Encourages employees to save money，which helps them in personal financial planning.

5.What are the purposes of financial management？财务管理的目的是？

Maximize the profits，earning per share and shareholders' wealth.

6.What are the financing methods for companies？企业有哪些筹资方式

Borrowing，bond issuance，common stock financing，preferred stock financing，convertible securities，and stock option financing.

7.What is the working capital？营运资本是什么？

It refers to the net current assets and current liabilities. It is the current assets that can be used to repay the payment obligation，minus the difference of the current liabilities of the payment obligation.

8.What is preferred stock？优先股是什么？

Preference stocks are stocks with priority rights. The shareholders of preferred shares have priority over the company's assets，profit distribution，etc.，and their risk is relatively small.

9.What is the capital structure？资本结构是什么？

Capital structure refers to the value composition and proportional relationship of various capitals of an enterprise and is the result of a company's fund-raising portfolio in a certain period of time. In a broad sense，the capital structure refers to the composition and proportional relationship of the total capital of an enterprise.

10.What is cost of capital？什么是资本成本？

Cost of capital is the required return necessary to make a capital budgeting. For example，when an investor purchases stock in a company，he/she expects to see a return on that investment. Since the individual expects to get back more than his/her initial investment，the cost of capital is equal to this return that the investor receives.

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