Lesson 5
Dear Takeke.
Dear Professor. Susan Garreis,
Hello.
In Japan we do not have a festival for fathers.
Birthday his father, because it is
people who are most respected in the family because even then grand.
We celebrate the birthday of our fathers because they are the most respected people in our families.
My father's hobby is watching the Tokyo marathon on TV. It resulted in blurred pictures of the runners.
I ran the marathon one year. I thought I would see a celebrity. I did not.
The marathon was good for the citizens nearby.
>A marathon is a long footrace, usually twenty-six (26) miles [forty-two point two (42.2) kilometers]. It is not a team sport. It starts and finishes in one day.
>A tournament is a series of sports competitions that involves many players or teams. It usually occurs over several days. An example is the Wimbleton tennis tournament.
My family has good runners.
>Did I say what you meant to write?
>If not, try to say again.
>English is easier if you use short sentences.
>Short sentences are ok in this course.
<Homework>
1What is a balance sheet?
A, Balance sheet is created at the same time, such as income statement by
using a technique that is known as double-entry bookkeeping to represent the
state of assets, liabilities, net assets at the time of certain of the
company, management to stakeholders shareholder of that company, a creditor
or any other to provide information about the state.
The Balance Sheet is created at the same time as the Income Statement. It represents the state of assets,liabilites,and owner's equity at certain date. In the Balance Sheet management provides information about the state of the company to stakeholders, creditors and others.
>The sentence in bold above is the answer I expected.
>Your answer is correct.
>In the US we usually say "owners' equity" not "net assets." Both words mean assets minus liabilities.
In addition, the
Corporation's financial results announcement on the Internet has mandated
the Federal Register, or a newspaper, will be public notice with the income
statement.
>I am not sure what this means, Takeke.
>In the US publicly traded companies are not required to publish financial statements in the Federal Register or a newspaper.
>These companies are required to publish their financial statements with the SEC (Securities and Exchange Commission).
>The SEC is a part of the federal government.
In general, the other when opening, closing time, that is
created
during the liquidation, may also be created on a monthly basis.
In general companies may also create financial statements on a monthly basis.
Before closing, some also want to create interim balance sheet.
Before year-end closing, some companies create interim
balance sheets.
2hat is stockholders' equity in the U.S.?
A, From the firm's total capital, minus the liabilities of repayment
obligation. And investment from the investors, consisting of that increase.
Specifically, capital and issued share certificates, has raised from
shareholders, some earnings reserve, voluntary reserve, and unappropriated
retained earnings, or capital reserve was established by the Commercial
Code.
>US GAAP is not created by law.
>It does not operate under a Commercial Code of the United States.
>In US GAAP, stockholders' equity is total assets minus total liabilities.
>Look at the Nike Balance Sheet.
>Look at the Stockholders' equity section. It starts on line 31.
>Nike Stockholders' Equity is (1) common stock--lines 32
to 35; (2) accumulated other comprehensive income--line 35; and (3) retained
earnings--line 36.
>Oracle's Stockholders' Equity is very similar.
3Name one current asset of Oracle in 2011.
A, Headquartered in California, United States, which is the second largest
software company in the world. Oracle Database bearing the name of the
company is a database management system software accounted for the largest
share of the global market.
Headquartered in
California, United States, Oracle is the second largest software company in the
world. Oracle Database bears the name of the company. It is a database
management software system and accounts for the largest share of the global
market.
>This is a description of the company and one of its products.
>Please look at the Excel file called OracelBalSht2011.
>The file was in last week's message from me.
>Find Current Assets. The list starts on line 7.
>Look at the first current asset on line 8.
>The first current asset is "Cash and Cash Equivalents."
>The answer to question three (3) is "Cash and Cash Equivalents."
>Look in cell B8.
>The number is $16,163.
>Look at cell A5.
>The words are "in millions except per share data."
>The words mean that all numbers have six zeros after them.
>The value in cell B8 is $16,163,000,000.
>This is the answer to question 4:
>>The value in US dollars: $16,163,000,000.
>>The value in English words: sixteen billion one hundred sixty-three million US dollars.
4 What is the value of that current asset? Please write the entire value
in
US dollars. Write the entire value in words.
A, $29183101.
>I do not know what this number represents. Sumi massen.
>It does not appear on the Oralcle Balance Sheet for 2010 or 2011.
>This is the answer to question 4:
>>The value in US dollars: $16,163,000,000.
>>The value in English words: sixteen billion one hundred sixty-three million US dollars.
5 Name one current liability of Nike in 2011.
A, Current portion of long-term deb and put.
Current portion of long-term debt.
6 What is the value of that current liability? Please write the entire
value in US dollars. Write the entire value in words.
A,$3,958
>$3,958,000,000 (three billion nine hundred fifty-eight million US dollars) is the value of Total Current Liabilities.
>Total Current Liabilities is not the same as the current portion of long-term debt.
>The correct answer is $200,000,000 (two hundred million US dollars).
>Please remember that the numbers in the financial statements are shortened.
>This saves space.
>The value of the current portion of long-term debt is shown as $200.
>The value is not two hundred US dollars.
>Add six zeros to show that it is $200,000,000 (two
hundred million US dollars).
7 Please send me the Japanese translation for the words in the list
below.
Please write the words in romajii.
A, accounts receivable. Urikakekin.
Assets. Sisan.
balance sheet tasisyakutaisyouhyo.
cash genkin.
credit syakkan.
current asset ryudousihisan.
current liability ryudoufusai
debit karikata.
dividend haitou.
double-entry fukushiki.
equipment kiki.
>Thank you for the Japanese vocabulary words.
8 How easy was this lesson for you?
The accounting was.
A, Very hard.
The English was.
A, Somewhat hard.
Sincerely yours,
Takeke.
Takeke, there are three attached files.
1. #5 Balance Sheet Part 2 is the new lesson.
It is the second of two lessons on the Balance Sheet.
This week we make a simple Balance Sheet.
2. Accounting Glossary has definitions of important accounting terms.
Print this file.
Translate this file.
Use this file for the rest of the course.
3. BeachToysTransJan10.xlsx is an Excel file.
The new lesson links to this file.
Print this file if that helps you more.
It is the rainy season in Japan.
It is hot and humid on the US East Coast.
I like October better.
It is cooler then.
What is your favorite month?