II. Read and translate the text.

Remember the difference:

Accounting is a comprehensive information system for collecting, analyzing and communicating financial information.

Bookkeeping is just one phase of accounting – the recording of accounting transactions.

Accounting offers the qualified person an opportunity to move ahead quickly in today’s business world.

Accounting is a basic and vital element in every modern business. It records the growth or decline of the business.

The field of accounting is divided into three broad divisions: public, private and governmental.

A certified public accountant (CPA)–AmE or a chartered accountant–BrE must pass a series of examinations, after which he or she receives a certificate. The simple fact of having passed the certifying examination gives them an advantage over those who haven’t.

CPAs can offer their services to the public on an individual consultant basis for which they receive a fee. Some CPAs perform work for films, corporations of government offices and receive a salary.

Private accountants, who are employees of individual businesses, handle the financial records of a business. They are responsible for preparing the financial statements and are salaried rather than paid a fee.

Government accountants are employed by governmental agencies. They are responsible for monitoring the receipt and payment of funds. All of these accountants work on a salary basis.

Salaried positions with business or government offer strong security, since salaried accountants are not affected by layoff or seasonal changes in the work load as are industrial or clerical workers.

III. Answer the following question:

1. What does accounting offer a qualified person?

2. Why is accounting a basic and vital element en every modern business?

3. What is the field of accounting divided into?

4. What is the certified public accountant? What is the British equivalent?

5. What do CPAs receive fees for?

6. Who can CPAs perform work for?

7. What are private accountants responsible for? Are they paid a fee?

8. What areas does a government accountant deal with?

9. Why do salaried accounting jobs offer security?

10. Do CPAs have any advantages over other accountants?

Bookkeeping and accounting

I. Study the vocabulary:

ledger головна книга

data (sng. datum) дані

entry бухгалтерський запис, проводка

record документ, запис, протокол

report звіт

II. Read and translate the text.

Bookkeeping and accounting are often considered to be one and the same. This confusion is understandable because the accounting process includes the bookkeeping function but it also includes much more.

Bookkeeping usually involves only the recording of the economic events and therefore is just one part of the accounting process. It is mechanical process of recording, classifying and positing financial entries into the Ledger. Bookkeeping is an important part of accounting, but accounting goes far beyond the mere recording of data.

Accounting, on the other hand, involves the entire accounting process, including identification, measurement, recording and communication.

A person involved wih or responsible for such functions as accounting information systems design, accounting policy making, data analysis, report preparation, and report interpretation may be referred to as an accountant.

A person who records or enters information in accounting records may be referred to as a bookkeeper.