- •`Бухгалтерський облік Active vocabulary
- •My future speciality
- •Exercises
- •Paraphrase or explain the following word combinations
- •Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases:
- •Answer the following questions:
- •Ask questions to give the following answers:
- •2. Read the text once again, and summarise it in 50 words my speciality (accounting)
- •Text I Active vocabulary
- •Financial statements
- •Exercises
- •I. Perephrase or explain the following word combinations
- •II. Find in the text english equivalents to the following words and word combinations. Make sentences of your own with these phrases
- •III. Fill in the blanks with the proper words and phrases from the box
- •IV answer the following questions
- •V. Ask questions to the following answers
- •VII. Translate into english
- •VIII. Make meaningful phrases of the following components. Translate them into english
- •IX. Say what you have learned about:
- •Read the text and answer the following questions:
- •What kind of people makes good accountants?
- •X. Translate into ukrainian
X. Translate into ukrainian
ACCOUNTING IN UKRAINE
Accounting in any country reflects the level of its economic development to some extend. As a dynamic system, accounting is being constantly improved in response to changes in the practice of managing economic activities and informational needs of users.
In times of command economy the main purpose of accounting was to control the safety of state property. Since the state was almost the sole owner, accounting was subordinated to the State as to the main user.
Transition to the market economy has created the new targets and assigned other functions to accounting. This resulted in the accounting reforms in Ukraine as a result of bringing the economy in compliance with market requirements.
A new phase of accounting development in Ukraine began on January 1, 2000, when the Law ‘On Accounting and Financial Reporting in Ukraine’ and the Accounting Standards (Provisions) of Ukraine (ASU) came into force. The Verkhovna Rada of Ukraine adopted the Law on July 16. This day is now celebrated as a professional holiday, the Accountant’s day.
The Law of Ukraine “On Accounting and Financial Reporting in Ukraine” determines legal foundations for regulating and performing the accounting and preparing financial statements in Ukraine. It applies to all legal entities founded in compliance with the legislation of Ukraine, irrespective of their organizational and legal forms, as well as form of ownership. It also relates to representative offices of foreign economic entities, which are liable to perform the accounting and present financial statements in accordance with the legislation.