English for Accounting

Brief course for beginners

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Lesson 4: Ledger

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Nominal Ledger
/ˈnɒmɪnl ˈledʒə(r)/
Also known as the general ledger, is the main accounting
record for a company’s financial transactions.

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“
Nominal Ledger is composed of a chart of accounts
which are categorized as assets, liabilities, equity,
revenue and expenses. For example, the ledger
keeps track of accounts that reflect the value of
purchased materials and services from each
supplier, payments to suppliers and their
outstanding debts.

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Nominal Ledger is
composed of a chart of
accounts which are Sổ cái thông thờng bao gồm các tài khoản
categorized as assets, tài sản, nợ, nguồn vốn, doanh thu cũng
liabilities, equity, như các chi phí của một doanh nghiệp. Ví
revenue and expenses.
dụ sổ cái theo dõi các tài khoản giúp ta
For example, the ledger
keeps track of accounts
xem được giá trị nguyên vật liệu và dịch
that reflect the value of vụ mua từ mỗi nhà cung ứng, các khoản
purchased materials thanh toán và số dư công nợ tương ứng.
and services from each
supplier, payments to
suppliers and their
outstanding debts.

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Inventory Account
/ˈɪnvəntri əˈkaʊnt/
An asset account that is intended to be sold in the ordinary
course of business.

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“
Inventory is the link between the
production and sale of products,
accounting for a large proportion in short-
term assets, therefore plays a very
important role in the production and
business of enterprises.

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Inventory is the link Hàng tồn kho là sự liên kết giữa việc
between the production
sản xuất và bán sản phẩm, giá trị
and sale of products,
accounting for a large hàng tồn kho chiếm tỉ trọng lớn trong
proportion in short-term tài sản ngắn hạn nên có vai trò rất
assets, therefore plays a quan trọng trong việc sản xuất kinh
very important role in doanh của doanh nghiệp.
the production and
business of enterprises.

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Income Account
/ˈɪnkʌm əˈkaʊnt/
Accounts that record the earnings a company receives from
selling services and goods to customers and returns on any
investments.

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 Expense account
/ɪkˈspens əˈkaʊnt/
Accounts that record the costs of running the business
for the period.

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“
Expenses are decreases in assets or
increases in liabilities that result in
decreases in equity, other than those
relating to distributions to holders of
equity claims.

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Expenses are
Chi phí làm giảm tài sản hoặc
decreases in assets
or increases in tăng nợ phải trả dẫn đến giảm
liabilities that result vốn chủ sở hữu mà không phải
in decreases in là những khoản liên quan đến
equity, other than việc phân phối lợi nhuận cho
those relating to
chủ sở hữu.
distributions to
holders of equity
claims.

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Control Account
/kənˈtrəʊl əˈkaʊnt/
A general ledger account that summarizes and combines all of
the subsidiary accounts for a specific type.

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“
Control account is a summary
account that equals the sum of
the subsidiary account and is
usually used to record account
receivables and account payables

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Control account is a
summary account Tài khoản kiểm soát là tài
that equals the sum khoản lưu giữ tổng số dư của
of the subsidiary các tài khoản con cùng loại. Tài
account and is khoản kiểm soát được chủ yếu
usually used to dùng cho các khoản nợ phải thu
record account
receivables and và nợ phải trả.
account payables

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Wage and Salary Account

/weɪdʒ ənd ˈsæləri əˈkaʊnt/
Accounts that record the amounts earned by employees
during the accounting period.

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Telephone expense account
/ˈtelɪfəʊn ɪkˈspens əˈkaʊnt/
Accounts that record the cost associated with all land
lines, fax lines, and cell phones during a usage period.

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Sales Ledger
/seɪls ˈledʒə(r)/
a detailed itemization of sales made, presented in date
sequence.

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Purchase Ledger
/ˈpɜːtʃəs ˈledʒə(r)/
a detailed itemization of purchases made, presented in date
sequence.

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“
A typical transaction entered into the
purchase ledger will record an account
payable, followed at a later date by a
payment transaction that eliminates
the account payable.

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A typical transaction Khi một giao dịch được hạch toán

entered into the vào sổ cái mua hàng thì sẽ được ghi
purchase ledger will nhận tương ứng với tài khoản phải
record an account trả, tài khoản phải trả này được cập
payable, followed at nhật sau mỗi giao dịch thanh toán
a later date by a
cho nhà cung cấp và làm giảm số
payment transaction
that eliminates the
tiền nợ họ.
account payable.

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 Revenue account
/kæʃ əˈkaʊnt/
The account showing the inflow of money from sale of
goods or services over an accounting period.

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“
There are many different kinds of
revenue accounts, but they all
represent the same basic concepts: a
company receives cash or a claim to
cash for the sale or use of its assets.

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There are many Có nhiều loại tài khoản doanh

different kinds of
thu khác nhau, nhưng tất cả đều
revenue accounts, but
they all represent the thể hiện một khái niệm cơ bản là
same basic concept: a công ty thu được tiền hoặc có
company receives quyền thu được tiền sau khi bán
cash or a claim to hoặc cho người khác sử dụng
cash for the sale or
các tài sản của mình.
use of its assets.

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Activities
Bring the new word into practice!

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Crossword
1. a regular amount of money that you earn,
usually every week/month for work or W A G E
services
2. the earnings a company receives from I N C O M E
selling services and goods to customers
and returns on any investments. P U R C H A S E
3. the act or process of buying something
C O N T R O L
4. the power to make decisions about how
an organization runs
R E V E N U E
5. the inflow of money from sale of goods
or services over an accounting period. I N V E N T O R Y
6. all the goods intend to be sold
7. a person, company, etc. that somebody
C R E D I T O R
owes money to

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Which one of the following is known as the king of all books of

accounts? General Ledger
_____________

The left hand side of a ledger account is known as: _______

Debit

A collection or group of all accounts of a business enterprise is

known as:________
Ledger

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