Raw Materials (原材料) :  The raw materials, also called direct materials inventory, are the components of a product that has not yet been placed into the product or intowork-in-process inventory.

Value-added Tax (增值税）:  The value-added tax is an incremental excise that is levied on the value added at each stage of the processing of a raw material or the production and distribution of a commodity and that typically has the impact of a sales tax on the ultimate consumer.

Note Payable (应付票据):  A note payable is the amount of principal due on a formal written promise to pay. Loans from banks are included in this account.

Account Payable（应付账款）:  An account payable, as a current liability account, will show the amount a company owes for items or services purchased on credit and for which there was not a promissory note, which is often referred to as trade payable,as opposed to notes payable,interest payable, etc.