V. Do the following assignment

Think of the company you are interested in. How was it financed when it was set up, and how is it financed now?

VI. Test your English

Complete the following words

1. This is the name for buildings, machinery,

money in the bank and money owed by

customers ASSETS

2. The loss of value of the things in

number 1 D_P_ _ _ _ _ _ _ _N

3. Money which is borrowed L _ _ _

4. The extra money a company or person

pays for borrowing money I _ _ _ _ _ ST

5. The total sum of money which is supplied

by the owners of a company to set it up C _ _ _ T _ _

6. Cash or goods which the owner takes

from the company for his own private use D _ _W _ _ _S

7. These are bought by people wishing to

invest in the company S _ _ _ _ S

8. The extra amount which is paid for a

company above the value of its assets GOO _ _ _ _ _

9. The purchase of another company ACQU _ _ _ _ _ _ _

10. An official examination of the accounts A _ _ _ T

11. A financial plan for the future B _ _ _ _ T

12. A statement of the financial position of

the company B_ _ _ _ _ E SHEET

Key: 4 Introducing Accounting 2

Unit 2 accounting теxt 2.1 Accounting and accountancy

1. Practice the pronunciation of the following words

involve, summarizing, deal, purchases, financial, technical, ethical, shareholder, decision, accuracy, exactness, fraud, deliberately, employee, artificially, fairness, European, Japan, annual, largely, authority, source, mixture.

2. Read and memorize the following words and word-combinations

   • business deal – ділова угода;

   • financial statement – фінансовіий звіт;

   • to relate to – мати відношення, стосуватися;

   • to summarize transactions – підсумовувати угоди;

   • to operate the training system- керувати системою навчання;

   • to make technical and ethical rules – складати формально-юридичні та етичні правила;

   • to lend (lent, lent) – позичати(комусь);

   • to involve – включати;

   • to make a decision – приймати рішення;

   • to examine the accuracy of records – перевіряти точність записів;

   • to look for a possible fraud – шукати можливий обман (шахрайство);

   • deliberately – навмисне;

   • to be carried out – бути виконаним; доведеним до кінця;

   • the truth and fairness of financial statements – правдивість та чесність фінансових звітів;

   • to prevent “creative accounting” – запобігати маніпуляції в бухгалтерській звітності;

   • artificially – штучно;

   • to establish – установлювати; запроваджувати;

   • stock exchange – фондова біржа;

   • to follow rules – наслідувати правила;

   • to give a true and fair view – давати правдиву і чесну картину;

   • to be responsible for – бути відповідальним за;

   • to fund – фінансувати;

   • the Accounting Standards Board (ASB) – Рада по стандартам фінансового обліку(створена в Британіі в 1990 );

   • to apply standards – використовувати стандарти.