- •3.1 Lead-in
- •3.2 Language input
- •3.2.1 Consult a dictionary and practice the pronunciation of the following words and word combinations, quote the sentences in which they are used in the text or submit the examples of your own:
- •3.2.2 Match the English word combinations in the left-hand column with the Russian equivalents in the right-hand column:
- •Environment of Accounting
- •3.4 Comprehension Understanding the reading
- •3.4.1 Give extensive answers to the questions. Use the following expressions to present your answers:
- •Scanning
- •3.4.2 Scan the text to determine whether these statements are true (t) or false (f), and if they are false say why:
- •3.4.3 Scan the text and find the information to complete the following lists:
- •3.4.4 Scan the text and find the English equivalents for the following:
- •3.4.5 Develop the following ideas. Make use of the active vocabulary, given in brackets:
- •3.5 Practice
- •Word Building
- •Complete the table with words from the text and related forms. Put a stress mark in front of the stressed syllable.
- •3.5.2 A. Read the text, ignoring the missing parts. Accounting Assumptions and Principles
- •Financial Statements
- •3.5.3 A. Fill in the gaps with the suitable expressions from the box:
- •3.5.4. Test your knowledge by answering the following questions:
- •3.5.5. Give the English equivalents for the following:
- •3.5.6. Match the words in two columns to make expressions and complete each sentence with the correct expression.
- •5.5.7. Read the text, give the English equivalents for the words in brackets, and single out the main items of the income statement.
- •Income Statement
- •3.5.8. Consider the consolidated income statement given below. Match the English word combinations in the left-hand column with the Russian equivalents in the right-hand column:
- •In eur thousand
- •3.5.9. Read the text and single out the main items of the balance sheet.
- •Illustration 3.2.
- •July 31, 200x
- •3.5.10. Decide whether the following statements are true or false. Account for your decision:
- •3.5.11. Choose the correct form of the Verbals.
- •3.5.12. Test your knowledge by answering the following questions:
- •3.5.13. Match the two parts of the sentences:
- •3.5.14. Test your ability to assign specific assets to various categories.
- •3.5.15. Place each of these 16 assets in the appropriate column of the following form:
- •3.5.16. Consider the part of the consolidated balance sheet given below. Match the English word combinations in the left-hand column with the Russian equivalents in the right-hand column:
- •3.5.17. Consider the other parts of the consolidated balance sheet given below. Match the English word combinations in the left-hand column with the Russian equivalents in the right-hand column.
- •3.5.18. Read the text and supply the prepositions where necessary.
- •Illustration 3.3.
- •3.5.19. Say it in English:
- •3.5.20 A. What do the following abbreviations stand for?
- •3.5.21 Use the plan below and the phrases that follow to make a presentation on one of the following subjects:
- •3.6 Dialogue 1
- •Jobs in Accounting
- •Supporting Materials
- •Read and translate the following dialogue: Tax Accounting
- •Supporting Materials
- •A Brief Summary of the Activities of the Office of the Auditor General in Norway
- •3.7. Case study& role play Case
- •Discussion questions:
- •Exhibit 1 Sales of the Microcomtec 100
- •Exhibit 2 Microcomtec’s Balance Sheet as of December 2000
- •Discussion questions:
- •Interoffice Memorandum
- •Making a Decision
- •3.8 Grammar back up The Infinitive, Past Participle and the “-ing” form (Revision)
- •Infinitive or the ing-form
- •Infinitive or the ing-form
- •Topics for the Power Point presentations
Supporting Materials
a. Look at the text below and discuss if the job of an auditor is really challenging.
Auditing is a complex career, involving many different job responsibilities. Auditing involves the review, analysis and evaluation of processes, products, services, systems, organizations and employees. Auditors assess the accuracy, validity, reliability, verifiability and timeliness of organizational information, as well as the sources and processes by which that information is produced. Auditors also inspect an organization's internal controls and the extent to which these controls manage an organization's risk exposures. Internal controls help prevent the theft of a company's assets and, if properly designed and executed, prevent data manipulation by employees. Among the main objectives of audit are to report upon the reliability, verifiability, accuracy and timeliness of information.
There are a few personal characteristics that are important for an auditor to have. First auditors should posses a strong ethical framework. Then good communication skills allow auditors to have a rapport with a variety of employees, managers, directors and external parties. Strong interpersonal skills are also important, due to the variety of informational requests. Furthermore, auditors need to be team players, as the scope of the audit can be fairly large. Finally, "professional skepticism" is an important trait to have, especially when reviewing a company's internal controls.
The qualities required for bookkeeping are probably accuracy and concentration, and mathematical ability. Managerial and cost accounting require analytical ability and mathematical competence. Tax accounting probably requires a thorough knowledge of tax laws and accounting combined with a desire to help one’s clients reduce their tax liabilities. Auditing presumably requires strong analytical and synthetic skills and honesty.
An accountant should be confident, with a good knowledge of company finance and legislation, but also approachable and good at communicating with people.
b. Match the two parts of sentences below to find out what different types of accountants do.
-
1.
Bookkeepers
A.
check the complete accounts before they are presented to the external auditors and make sure that the management has sufficient control over what is going on in the company.
2.
Management accountants
B.
record transactions in purchase ledgers and sales ledgers.
3.
Internal auditors
C.
have to verify that a company’s published financial statements gives a true and fair view of its profit, its assets and liabilities.
4.
External auditors
D.
calculate how much tax an individual or a company should pay – or try to reduce this figure.
5.
Cost accountants
E.
analyse the sales figures from different departments and make decisions about their future activity.
6.
Tax accountants
F.
work out the real cost of every item the company makes which means finding a way to allocate all the overheads to different products.
c. Produce your own dialogue about auditor’s and accountant’s responsibilities and useful personality characteristics. Make use of the underlined helpful phrases from Dialogue 1 and Supporting Materials. Find answers to the following questions.
What are an auditor's responsibilities?
How can useful personality characteristics for an auditor be defined?
What particular skills do different kinds of accountants need?
What kind of qualities does a good accountant need?
DIALOGUE 2