2015-08-21
502
| In the red; annual report; pre-tax loss; accounting standards; hemorrhaging red ink; exceptional profit or loss; makes a profit; bottom line; red ink; pre-tax profit; net profit; bleeding red ink; profit and loss account; makes a loss; accounting rules; gross profit. |
A firm reports its performance in a particular period in its results. Results for a particular year are shown in the company’s …(1). This contains, among other things, a …(2).
In theory, if a company makes more money that it spends, it …(3). If not, it …(4). But it’s possible for a company to show a profit for a particular period because of the way it presents its activities under the … (5) or …(6) of one country, and a loss under the rules of another.
A … (7) or a …(8) is one before tax is calculated. An …(9) is for something that is normally repeated, for example the sale of a subsidiary company or the cost of restructuring. A company’s …(10) is before charges like these are taken away; its …(11) is afterwards. The final figure for profit or loss is what people call informally the …(12). This is what they really worry about!
If a company is making a loss, commentators may say that it is …(13). They may also use expressions with …(14), saying, for example, that a company is...(15) or …(16).
IX. Match up the following British and American terms.
1. creditors a. amortization
2. debtors b. accounts payable
3. depreciation c. accounts receivable
4. overheads d. inventory
5. profit and loss account e. stockholder
6. stock(s) f. income statement
7. shareholder g. overhead
8. share premium h. paid-in-surplus.
9. retained and undistributed i. undivided profit
profits
