Lesson 1

Task 1. a) The word “ACCOUNT” has a wide range of meanings:

b) Translate the sentences into Ukrainian taking into account the following meanings of “ACCOUNT”:

• рахунок (у банку);

• клієнт, замовник (особливо рекламної агенції);

• звіт, повідомлення, доповідь; звітність;

• рахунок (за товари, послуги);

• абонемент (в онлайновых службах – запис у базі передплатників, який слугує для ідентифікації користувача, обліку наданих йому послуг і розрахунку оплати за них);

• сума внеску на рахунку; бюджет (юридичної особи, абонемента чи користувача);

1. Some banks make it difficult to open an account.

2. I had two accounts with Natwest, a savings account and a current account.

3. We now have over 30 major accounts.

4. I was too shocked to give a clear account of events.

5. He gave a detailed account of what happened on the fateful night.

6. I have an account with Marks and Spencer.

7. Can you charge (put) this to my account please?

8. I’ll settle my account in the morning.

9. There’s no money to pay the tradesmen’s accounts this month.

10. Do you have an email account?

11. The accounts for last year showed a profit of $2 million.

12. I wanted to get some money from the ATM and check my account.

Task 2. Make the difference between the following words.

Which word?

Account / bill / invoice / check / tab

Account is an arrangement with a shop or business to pay bills for goods or services at a later time, for example in regular amounts every month; the money owed in such an arrangement: Put it on my account please. We have accounts with most of our suppliers. She bought the furniture she wanted on account (= she would pay for it later). Bill is a list of goods that you have bought or services that you have used, showing how much you owe; the price or cost of something: the telephone / electricity / gas bill. We ran up a massive hotel bill. Is the company going to foot the bill (= pay) for the repairs? I’ll be sending you the bill (= I will expect you to pay) for the dry-cleaning! (especially BrE) The waiter brought the bill to their table. Invoice [`ınvOıs] (rather formal) is a bill for goods that somebody has bought or work that has been done for somebody: The timber merchants sent an invoice for £250. Check (AmE) is a piece of paper that shows how much you have to pay for the food and drinks that you have had in a restaurant: Can I have the check, please? In British English the usual word for this is bill. Tab (амер. рахунок, чек) (rather informal) a bill for goods you receive but pay for later, especially for food or drinks in a restaurant or bar; the price or cost of something: a bar tab; Can I put it on my tab? He walked out of the restaurant and left me to pick up the tab (= pay) for the whole meal.

Task 3. a) Study the following word-formation pattern.

-ABLY

-ANT

-ABILITY

ACCOUNT

-ING

-EE

-ABLE

-ANCY

-ANTSHIP

b) Match the terms in column A with their definitions in column B:

A

B

accountee accountant accounting accountable accountably accountancy accountability accountantship

(of a person, organization, or institution) required or expected to justify actions or decisions; responsible; in a position where people have the right to criticize you or ask you why something happened; alternative term for account party; another name for the applicant / opener of a documentary credit i.e. the importer = the person for whose account the transaction is made; the activity of keeping detailed records of the amounts of money a business or person receives and spends; the work of accountants or the methods they use; the theory or practice of keeping financial accounts; the profession or duties of an accountant; the work or profession of an accountant; the quality or state of being accountable; especially an obligation or willingness to accept responsibility or to account for one’s actions; the position of an accountant; the office or employment of an accountant; a person whose job is to keep or inspect financial accounts; adv in an accountable manner;

c) Which of the above words means:

• посада бухгалтера; бухгалтерія, бухгалтерська справа;

• таким чином, що можна пояснити; у спосіб, що піддається поясненню;

• відповідальність, звітність (перед кимось), підзвітність; обов’язок надання звітності;

• облік (у т. ч. бухгалтерський), бухгалтерська справа; надання звітності, укладання звітності;

• (кваліфікований) бухгалтер; контролер, ревізор; експерт з аналізу балансів і фінансової звітності;

• бухгалтерська справа; бухгалтерський облік (частіше використовується у значенні “професійна діяльність”);

• відповідальний (перед кимось – to, за щось – for); з’ясовний; підзвітний (про особу); відповідальний; підзвітний; який можна пояснити;

• заявник (акредитиву), аплікат (сторона, яка подала в банк заяву про відкриття акредитиву, тобто особа, за дорученням і за рахунок якої відкривається акредитив)?

d) Translate into Ukrainian paying special attention to the words in italics.

1. Accountability is always a relationship between an accountor and an accountee. 2. He’s the organization’s chief accountant. 3. Shareholders lost money as the result of accounting errors. 4. He’s sitting his final exams in accountancy. 5. As a director, she must be accountable for her decisions. 6. Government must be accountable to its citizens. 7. Parents could be held accountable for their children’s actions. 8. Public officials can finally be held accountable for their actions. 9. The major service industries should be accountable to their customers. 10. As director, she knew she would be held accountable for any budget deficit. 11. The council is accountable to the people who elected it. 12. Living accountably means that we need to be responsible to one another and use our relationships to grow. 13. She works for a top accountancy firm in Paris. 14. Accountability can not exist without proper accounting practices, in other words absence of accounting means absence of accountability. 15. Accountantship is the position of accountant.

Task 4. Study the etymology of the word “ACCOUNTANCY”.

Etymology:	ACCOUNTANCY
Latin computare → French compter → Old English accomptant (which was pronounced by dropping the ‘p’ and over time further changed in pronunciation and spelling) → accountant → accountancy.

Task 5. a) The text below contains the following words and word combinations. Try to guess what they have to do with the subject of accountancy.

• for thousands of years;

• at all levels of development (of people);

• dating back several thousand years;

• the earliest days of human agriculture and civilization;

• the Christian Bible;

• New Testament – Новий Заповіт;

• the Book of Matthew [`mæθju:] – Євангеліє від Матвія (перша книга Нового Заповіту і перше з чотирьох канонічних євангелій);

• the Parable [`pærəb^əl] of the Talents – Притча про таланти (талант – грошова одиниця) – одна із притч Ісуса Христа, яка міститься в Євангелії від Матвія і розповідає про друге пришестя;

• the Islamic Quran [kO:`rα:n] / [kə`rα:n];

• an Italian monk Fra Luca Pacioli [frα: `lu:ka pα:`t∫O:li] (1445 – 1517);

Task 6. Practice reading the following words.

accomplishments [ə`kAmplı∫mənt] accountancy [ə`kauntəntsi] aspect [`æspekt] assets [`æsets] balance [`bælənts] Christian Bible [`krıst∫ən `baıbəl] civilization [ֽsıvəlaı`zeı∫ən] classifying [`klæsıfaıŋ] clerical [`klerıkəl] to control [kən`trəul] / [kən`troul] cycle [`saıkəl] department [dı`pα:tmənt] / [dı`pα:rtmənt] designing [dı`zaınıŋ] directly [daıə`rektli] / [də`rektli] effort [`efət] / [`efərt] to enable [ın`eıbəl] equal [`i:kwəl] forecasting [`fO:kα:stıŋ] / [`fO:rkæstıŋ] frequently [`fri:kwəntli] functionary [`fAŋk∫ənəri] identifying [aı`dentıfaıŋ] infancy [`ıntfəntsi]

intelligently [ın`telıGəntli] journal [`Gə:nəl] judgment [`GAGmənt] ledger [`leGə] / [`leGər] liabilities [ֽlaı`bılətiz] Mathew [`mæθju:] mechanical [mı`kænıkəl] mistakenly [mı`steıkənli] monk [mAŋk] to owe [əu] / [ou] to own [əun] / [oun] Parable [`pærəbəl] practitioner [præk`tı∫ənə] / [præk`tı∫ənər] Quran [kO:`rα:n] / [kə`rα:n] rein [reın] routine [ֽru:`ti:n] trial [`traıəl] / [`traıəl] valuable [`væljubəl] / [`væljəbəl] vice president [ֽvaıs`prezıdənt] virtually [`və:t∫uəli] to warn [wO:n] / [wO:rn] wheat [wi:t] / [hwi:t]

Task 7. Read the text.