Accounting: Changes and Prospects

Significant changes are known to have taken place in accounting in re­cent years. The accountancy profession lias gained a very high status. The modern accountant has begun to play an important role in business activity.

upgrade skills - повышать квалифика­цию

As a result he is expected to perform various duties today, one of the major duties being provision of information to the management. By providing infor­mation to managers the accountant enables them to assess their own perform­ance, (o make economic decisions and to devise ways to improve their effi­ciency. Equally important is the task of designing accounting systems.

[n spite of me centuries of evolution the double-entry principle has remained Ihe backbone of any accounting system. At the same time, however, one can't deny the fact that the development of human society influences accounting and makes designing accounting systems for new fields like "social accounting", "green accounting", "tax accounting" etc. a challenging task.

Another responsibility of accountants is to prepare financial statements, l lie four basic financial statements being the income statement, balance sheet, capital statement, and the statement of cash flows.

Role-play Why I Want to Be an Accountant and Auditor

Any country needs accountants. Ask your foreign friend who is trained to be an accoun­tant and auditor why he wants to make a career in accounting/auditing.

One,of the biggest problems facing the accounting profession is the necessi-ly of rapid adaptation to the changes connected with the enormous growth of industry, the world globalisation process and development of information tech­nology. In this context there is a general opinion in the profession about the need to improve the quality of accounting, professional competence, and ac­counting education. Maintaining high ethical standards, compliance with rele­vant laws, as well as accounting and auditing standards are also on the agenda.

209 Unit 6

I.

The World We Live In Taxi A. Modem World Economy T&icl B. Natural Resources, Progress and Technology

Grammar Presemaiion: Словообразование (Word Formation) Text C. Computers in Russia

Grammar Presentation: Будущее длительное время (The Fulurc Continu­ous Tense) • Булущсе совершенное время {The Future Perfect Tense) Grammar Revision: Условные предложения (Condilional Sentences) Social English: At the Office Role-play: Campaign for a Cleaner City

II. World Trends. Globalisation

Texi A, "Arguing Against Globalisation Is Like Arguing Against the Law оГ Gravity"

Text В. Но» to Render a Specialised Article

Role-play: A Talk with Anti-globalists

I. The World We Live In

Over the last few decades export and import shares of output have increased considerably in practically all industrial sectors. For most industrial nations, exports and imports remain the most important in­ternational activity. In addition to visible trade, which involves the im­port and export of goods, they are trying to develop invisible trade, which involves the exchange of services between nations, thus improving their balances of trade.

As the world is developing a single economy, international organi­sations, including the World Trade Organisation, the International Monetary Fund and the World Bank Group, are contributing to the liberalisation of trade, monetary and economic cooperation. They have had a positive effect on economic growth, price stability and the flow of capital.

Nevertheless, serious economic and social challenges remain: - how to bridge the gap between the industrialised and developing

world;

• how to prevent inflation;

• how to improve employment opportunities;

• how to maintain economic growth;

• how to put an end to poverty.