2015-08-21
1625
I. Fill in the missing words in the sentences below. Choose from the box. You will need to use each word more than once.
NOTE. Accountancy (noun) is the theory of keeping financial records. Accounting (noun+ adjective) refers to the activity of keeping financial records. Account (noun) is a record of money received and spent. Accountant (noun) is a person who keeps and works with financial records.
| Account; accounts; accountant; accounting; accountancy. |
1.Can you check that the figures have been entered correctly in the bank account?
2.He’s at university studying __________.
3.The management of the company have not yet decided on their ___________ policies.
4.A bookkeeper writes details of financial transactions in the ________.
5.Most people on the profession read __________ magazines and journals in order to stay informed.
6.She’s been working as an ________ with this firm for several years now.
7.The directors of the company approve the ___________ at the end of the __________ year.
8.The chief ____________ has completed the draft __________ for this year.
9.Each branch maintains its own full __________ system.
10.They have opened an __________ for the consignment to Glasgow.
11.__________ is really not an exact science.
12.A business manager needs some ______________ knowledge in order to understand what he reads in the company ____________.
II. The word account is now used in everyday English to form phrases with different meaning. Guess the meaning of the phrases in bold in the sentences (1-10) below. Choose the correct definition (a-j) on the right.
| 1. How do you account for the sudden fall in the stock value? | a) people say |
| 2. Agents buy and sell goods on their own account. | b) report |
| 3. They gave the solicitor a detailed account of the customer’s business deals in the last year. | c) under no circumstances |
| 4. The draft accounts had to be adjusted on account of the discovery that a major debtor had gone bankrupt. | d) consider |
| 5. Raw materials account for30% of the manufacturing cost. | e) explain |
| 6. They are regular customers in this shop and are able to buy on account. | f) big customers |
| 7. On no account should these figures be released before the board meeting. | g) for themselves |
| 8. When making decisions for the future the managers have to take this year’s poor performance into account. | h) because of |
| 9. By all accounts, they will benefit greatly if the deal goes through. | i) on credit |
| 10. The advertising company has won two new accounts in South Africa. | j) represent |
III. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases.
|
|
|
Визначення; вимірювання; сімейний бюджет; податкова декларація про прибуток; отримати банківську позику; проблема; матеріали бухгалтерського обліку; у грошовому вимірі; подавати на ознайомлення (на розгляд) інформацію; постачальники; наявність доречної інформації; розробка прогнозів; запис операцій; пропонувати бухгалтерські послуги; консультаційні послуги з управління; головний бухгалтер; доручати; встановлювати завдання; готувати періодичні фінансові звіти; облік витрат; фінансові прогнози; той, що застосовується; відмінний підхід.
IV. Match the terms to their definitions.
| 1. Accountants | a) the work or skill of keeping account books or systematic records of money transactions (distinguished from accounting). |
| 2. Accounting | b) the phase of accounting that is concerned with providing information to managers for use in planning and controlling operations and in decision making. |
| 3. Bookkeeping | c) persons who are responsible for collecting, recording, and communicating financial information and the preparation of analyses for decision-making purposes. |
| 4. Business entity | d) the phase of the accounting that is concerned with the providing information to the stockholders and others who are outside of an organization for use in evaluating operations and current financial condition. |
| 5. Controller | e) the theory and system of setting up, maintaining, auditing the books of the firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc. |
| 6. Financial accounting | f) the unit for which accounting records are maintained and for which financial statements are prepared. |
| 7. Managerial accounting | g) an organization’s chief accounting officer, who is responsible for establishing and maintaining the organization’s accounting system. |
V. Fill in the blanks with the proper words and phrases from the box and translate the text into English.
|
|
|
| Non-profit organizations; accounting records; accounting information; owners; accounting training; making decisions; business decisions; bankruptcy. |
Managers and owners of both large and small profit-making organizations use ______(1) to answer important questions. Are profits sufficient? Should selling prices be increased or decreased? How many workers should be employed? etc.
Persons responsible for non-profit organizations also need accounting information as the basis for ______(2).______(3), such as churches, social clubs, and city governments, must keep spending within money available.
Business managers and ______(4) need good financial information to make good business decisions. Orderly records of a business' financial activities are called ______(5). Inaccurate accounting records often contribute to business failure and ______ (6). Failure to understand accounting information can result in poor ______ (7) for either profit or non-profit businesses and organizations. ______ (8) helps managers and owners make better business decisions.
VI. Answer the following questions.
1. In broad and general terms, what is the purpose of accounting?
2.Why is the knowledge of accounting terms and concepts useful to persons other than professional accountants?
3. What does the term accounting system mean? What are the main functions of the accounting system?
4. What are the means of creating accounting information?
5. What does the accounting process involve?
6. What two main groups do users of financial information fall into?
7. What are the main branches of accounting?
8. What are the distinctions between accounting and bookkeeping?
9 What is the principal function of public accountants? What other services are commonly rendered by public accounting firms?
10.What is the scope of private accounting?
11.What is the purpose of governmental accounting?
VII. Read the text and describe four major accounting job categories .
