- •Передмова
- •I. Introduction into modern accounting accounting
- •I. Practice in reading these words and word-combinations:
- •II. Read the text.
- •III. Answer the questions based upon the text.
- •IV. Choose the necessary word and put it in the sentence.
- •Conversation in a company cafe
- •Read the dialogue in pairs. Be ready to dramatize it with you group mates.
- •II. Imagine that you work as an accountant in a big enterprise. Answer the following questions
- •III. Make up the dialogue about accounting:
- •IV. Translate from Ukrainian into English.
- •The accounting profession
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out the main features of accounting profession.
- •III. Use the information from the text to complete the sentences.
- •IV. Answer the questions based on the text given below:
- •Fields of accounting
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to learn about the main fields of accounting.
- •III. Use the information from the text to complete the sentences.
- •IV. Answer the questions after the text
- •Functions of accounting
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out the functions of accounting and bookkeeping.
- •III. Complete the sentences using information from the text.
- •IV. Answer the questions after the text.
- •Areas of accounting
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out the areas of accounting and their scope of activity.
- •Particular – певний, специфічний
- •III. Complete the sentences using information from the text.
- •IV. Match each term in the left column with the definition in the right column:
- •V. Answer the questions after the text:
- •What kinds of people make good accountants?
- •I. Read the following words:
- •I. Read the text to find out the qualities that make people good accountants.
- •II. Answer the following questions:
- •III. Join the following pairs of sentences by using:
- •IV. What particular skills do you think different kinds of accountants need?
- •V. Write a brief description of the qualities needed for the accountant's job so that they are mentioned in order of importance, using the following word-combinations:
- •What is the difference bitween bookkeeping and accounting?
- •I. Practice in reading these words:
- •II. Read the text to find out the differences between the terms “accountant” and “bookkeeper”.
- •Comments
- •II. Answer the following questions:
- •II. The nature and purpose of accounting the main users of accounting information
- •I. Read the following words and word-combinations:
- •II. Read the text to find out the needs of different users.
- •Comments
- •V. Answer the following questions:
- •Desirable qualities of financial information
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out what sort of qualities accounting information should possess to be useful for users.
- •IV. Rearrange the following sentences to make a text.
- •V. Read the text again to answer the following questions:
- •The types and the titles of accounts
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out what sort of accounts different companies have.
- •V. Use the information from the text to complete the sentences.
- •VI. Read the text again to answer the following questions.
- •The ledger – the main book of accountants
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out the information about the history of the ledger appearance and its usage in the accounting practice.
- •III. Rearrange the following sentences to make a text.
- •IV. Use the information from the text to complete the sentences.
- •V. Read the text again to answer the following questions:
- •Accountancy in a free-market economy
- •I. Read the dialogue in pairs. Be ready to dramatize it with your group mates.
- •III. The double-entry system the double entry system – the basic method of accounting
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out: 1) when the double-entry system was introduced in Britain and what its significance for accounting practices was; 2) what enterprise in Russia used this system first.
- •VI. Read the first paragraph of the text again to decide which of the following statements best expresses its main idea.
- •V. Read paragraph 2, then complete the following statements.
- •Accounting systems
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out what factors influence the choice of an accounting system.
- •IV. Read paragraph 1 again. Which of these phrases best serves as a title for it?
- •VI. Read the text again to answer the following questions.
- •IV. Financial statements accounting communication through financial statements
- •I. Practice in reading these words and word-combinations:
- •II. Read the text to find out through what financial statements accounting information is communicated to users.
- •IV. The following sentences are a summary of paragraph 1, but all its statements are in a mess. Put them into a logical order.
- •VI. Answer the following questions.
- •Financial statements analysis
- •I. Practice in reading these words and word-combinations:
- •I. Read the text to find out why the past and present information is important for future decisions.
- •III. Here are six statements about the text. Some of them are true and some are false. Read each statement and then check the text quickly whether it is true. Do one at a time.
- •Accounts and balance sheets
- •I. Read the following words and word-combinations:
- •The balance sheet
- •I. Read the following words and word-combinations:
- •II. Read the text to find out the basic components of a balance sheet.
- •A bank accountant's job
- •I. Read the dialogue in pairs. Be ready to dramatize it with your group mates.
- •Discussion
- •V. Auditing what is auditing
- •I. Answer the questions to part I:
- •I. Answer the questions to part II:
- •I. Answer the questions to part III:
- •II. Find the English equivalents in the left-hand column for the following words:
- •Auditing and auditors
- •Sample auditor's unqualified opinion
- •I. Indicate whether each of the following statements is true or false.
- •II. State which of the following types of opinion an auditor should issue for each example:
- •Discussion
- •VI. Professional terms
- •Vocabulary Practice
- •The work of the accountant
- •Vocabulary to be memorized
- •To gain
- •Momentous
- •What should a modern accountant be like?
- •Vocabulary to be memorized
- •From the early history of accounting
- •Vocabulary to be memorized
- •Vocabulary to be memorized
- •The faculty of accounting and finance at birmingham university
- •Vocabulary to be memorized
- •The distinction between auditing and accountancy
- •Vocabulary to be memorized
- •The role of accounts
- •Vocabulary to be memorized
- •From the history of the double-entry system
- •Vocabulary to be memorized
- •Accounting conventions and principles
- •Vocabulary to be memorized
- •The ledger
- •Vocabulary to be memorized
- •Relationships between financial statements
- •Vocabulary to be memorized
- •A critical appraisal of the balance sheet
- •Vocabulary to be memorized
- •Professional ethics of accountants
- •Vocabulary to be memorized
- •Setting accounting and auditing standards internationally
- •Vocabulary to be memorized
- •What accounting tasks can be done with a help of a computer?
- •Vocabulary to be memorized
- •Some leading accounting organisations of great britain
- •Vocabulary to be memorized
- •Making a career in accounting
- •Vocabulary to be memorized
- •Accounting in the future
- •Vocabulary to be memorized
- •The accounting system of great britain and northern ireland: it's general regulatory scheme in relation to ukrainian accounting
- •Vocabulary to be memorized
- •Check yourself. Choose the best alternative to complete the sentence.
- •Reference literature
- •Contents
- •I. Introduction into Modern Accounting
From the history of the double-entry system
Vocabulary to be memorized
application застосування, використовування
approach підхід (до розгляду або вивчення чого-небудь) the most spread approach найпоширеніший підхід
to be closely associated бути тісно зв'язаним
to come upon smth прийти в голову (про думки, ідеї і т.п.)
to claim затверджувати, претендувати
to formulate створювати (про теорію), формулювати (пропозиція і т.п.)
figure особа, персона leading figures видатні люди
genius геній, the work of а single genius робота одного генія
incorrectness неправильність, некоректність
innovator новатор
to identify with smth. ототожнювати з чим-небудь
mathematician математик, а prominent mathematician видатний математик
mystery таємниця
measurement вимірювання
origin походження
precision точність
popularize поширювати, популяризувати
regard розглядати
at roughly the same time приблизно в той же самий час
Renaissance Відродження, Ренесанс
triumph перемога, торжество
search пошуки
simplicity простота
strengthen укріплювати
symmetry симетрія
well-acquainted добре знайомий, well-acquainted with trade добре знайомий з торгівлею
Read the text to find out how many approaches to the origin of the double-entry system exist in accounting history.
According to accounting historians there are several approaches to the origins of the double-entry system. The first and the most wide spread approach is that double-entry represents the work of a single genius. He is believed to be a prominent mathematician well-acquainted with trade. Some historians of accounting identify this genius with Luca Pacioli. He is the most famous man in the history of accounting. Luca Pacioli lived between 1445 and about 1513. He was a mathematician and worked at various universities in Italy. He knew the world of trade as well.
However the incorrectness of this point of view is easily demonstrated by Pacioli himself who wrote in his book he was describing Venetian practice as he found it. It is well-known that the practice was probably two centuries old when he wrote his famous "Summa".
Whether there was another genius with the necessary combination of learning and business knowledge who invented double-entry in the 13th century remains a mystery. Perhaps, there were several innovators who came upon the same idea independently. The practice is likely to have started in different parts of Italy at roughly the same time. Regional differences in the details of practice suggest independent development.
In accordance with another approach, the double-entry system is regarded as the application of science in the form of mathematics. In other words, double-entry is considered the application of scientific measurement in the world of trade. This approach is rather attractive and what is more important, it is strengthened by some historical facts. First of all, Luca Pacioli was closely associated with some leading figures of Renaissance in whose works the ideas of proportion and symmetry find their practical expression. In spite of the attractiveness of this approach one cannot claim that in the double-entry system the ideas of balance, symmetry and precision are central. Neither can we say that the development of double-entry represents the triumph of Renaissance - the search for simplicity.
The point is that in the ancient world much attention was given to details in accounting records. That is why ancient ledgers and records are so useful as source material for economic, social and business historians.
Records have been kept in different countries from very early times. But the system of accounting was formulated in Pacioli's book, published in 1494. This book had an immense influence on the spread of double-entry and did much to popularize it.
Answer the following questions.
What is the most wide spread approach to the origins of the double-entry system?
Why do some historians of accounting identify the invention of the double-entry system with Luca Pacioli?
Is it correct to say that Luca Pacioli invented the double-entry system?
Were there any other innovators who came upon the same idea independently?
What do regional differences in Italian accounting practices of the 13th century suggest?
How is the double-entry system regarded under another approach?
Why is this approach more attractive?
Are there any grounds to claim that the development of double-entry was caused by the search for simplicity?
What was given much attention to in accounting records?
What was the influence of Pacioli's book on the spread of the double-entry system?