IX. Match the questions with the answers:

1. Are you an accountant? 2. Do you spend your time writing down credits and debits, adding figures all days through? It seems to me rather dull. But some people like such a job. 3. What do accountants do?

1. That's bookkeeping. Which, you know, is not the same thing at all.

2. Yes, I am an accountant. And I am proud of it.

3. You see, accountants record cash flows, calculate profits and losses.

They also record the value of assets and liabilities. But we, accountants, do more than that. We supply people with information. We take part in a company's making of decisions.

X. Read and translate the meanings of the following terms. Translate the sentences with them.

Accounting - 1) is the work of keeping or checking accounts; accountancy (syn.)\ 2) is the work and profession of an accountant; 3) is recording the money value of business dealings.

1. She works in accounting. 2. Accounting is a system of recording the money value of business dealings and income and expenditure accounts to enable the management of a concern to see the financial position at any time.

3. In a centralized accounting system, all cash payments are made by the central accounting office. 4. Accounting malpractice toward a client can arise, for instance, when accountants present a negligently prepared financial statement to the client, and the client relies on it and is injured.

Asset - is an item of value belonging to a person or a company, such as a share, a piece of land, a building or a machine, especially if it can be sold to pay a debt.

1. The company was forced to sell off its assets. 2. His assets included shares in the company and a house in the country. 3. A sense of humour is a real asset in this business. 4. Asset liability, and stockholders' equity accounts are permanent accounts. 5. Assets are the items of value owned by a business. 6. The total annual expenses of the asset are spread out fairly evenly over the asset's life. 7. The amount of depreciation is calculated using the asset's current book value. 8. An asset is defined as anything of value that is owned by the person, corporation, or institution in question.

Cash - 1) is money in the form of banknotes and coins; 2) is money or finance generally.

1. Small amounts are usually paid in cash rather than by cheque. 2. The company is short of cash at the moment. 3.I never carry much cash with me. 4. According to various laws, the assessed value of property for tax purposes must represent either the full fair market, or cash value of the property or a specified percentage of such value.

XI. Translate the following extract in written form:

Bookkeeping is an essential accounting tool. A small business or company may employ only one bookkeeper, who records all of the financial data by hand; large organizations may employ many bookkeepers, who use electronic and mechanical equipment for a large part of their work. Each organization has its own bookkeeping requirements, but all systems operate on the same basic principles. The bookkeepers themselves must be accurate, good in math, and meticulous; that is, they must be very careful to record each detail in its proper place.

The two basic systems of bookkeeping are double-entry and single-entry. The double-entry method was perfected by the merchants of Venice during the fifteenth century and it still used today.