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Файл:Английский язык для бухгалтеров. Учебное пособие
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6. Fill in the blanks using the words from the list in the bottom.
A
THE BUSINESS ENTITY CONCEPT
The transactions recorded in a firm's books are the transactions that affect the firm. The only attempt to show how the transactions
1) ____________ is limited to showing how their capital in the firm is affected. For instance, a proprietor puts $1,000 more cash into the firm as
capital. The books will then show that the firm has 1,000 more cash and
that 2) _________ . They do not show that he has $1,000 less cash in
3) __________ . The accounting records 4) _________ and do not extend
to the personal resources of the proprietors.
a) its capital has increased by $1,000; b) affect the owners of a business; c) are therefore limited to the firm; d) his private resources
B
THE ASSUMPTION OF THE STABILITY OF CURRENCY
One does not have to be very old to remember that a few years ago
many goods 1) ________ with less money than today. If one listens to one's
parents or grandparents then 2) ________ of how little this item or the other
could be bought for x years ago. The currencies of the countries of the
world 3) _______ in terms of what each unit of currency can buy over the
years. Accounting, however, uses the cost concept, this stating that the asset
is normally shown 4) _______ . This means that accounting statements will
be distorted because assets will be bought at different points in time at the
price then ruling, and the figures totalled up to show the value of the assets
in cost terms.
a) are not stable; b) at its cost price; c) could be bought; d) many stories will be heard
7. Add the missing prepositions where necessary.
1. Their defeat was ascribed ___ a poor defence.
2. If you carry ___ spending money like that, you'll end up in debt.
3. The amount doesn't seem quite so bad when you break it _____
into monthly payments.
4. The EU has laid _____ tough standards for water quality.
5. We've already expended too much energy ____ this project.
6. How does the UK's performance compare ____ that of other Euro-
pean countries?
7. Her new book covers _____ the period from 1870 to 1918.
8. I've been waiting ____ a refund cheque for several months.
9. The demonstration soon degenerated ______ violence.
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8. Read the following sentences and then fill in the gaps with an
appropriate form of the word in capitals at the end of each line:
1. Our new research strategy ________ that we
get the best possible results.
2. Your argument is based on a completely
false ____________.
3. Once we have all the _________ informa-
tion, we can make a decision.
4. The paintings are not of any great _________
value.
5. Skilful employees are _________ to the suc-
cess of any company.
6. The government has been __________ in
taking the side of large companies against those
campaigning for public health and safety.
7. The benefits are difficult to _________.
8. After ________ period of negotiation,
agreement was finally reached.
9. A major ________ will be published in June.
10. Your statement is indefensible and ______ .
SURE
ASSUME
RELEVANCE
MONEY
VITALITY
CONSISTENCY
QUANTITY
LENGTH
REVISE
VALIDITY
READING FOR DETAILS AND LANGUAGE STUDY: SECTION C
1. Check that you understand the detailed questions below and
answer them:
1. What do measurement concepts define?
2. What is the basis for measuring transactions?
3. What is the matching rule?
4. What does accrual accounting consist of?
5. What is the general characteristic of an accounting period by defi-
nition?
6. What must the balance sheet contain on that day?
7. What must the income statement contain on that day?
8. Why do some of the accounts need adjustment?
9. What are the two accounting axioms?
10. What is the result of applying the prudence rule?
11. Why is the dual aspect so important in accounting?
at its cost price
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2. Match English words or phrases in column A with correspond-
ing Russian ones in column B:
A B
1) cause-and-effect relationship
2) adjusting the accounts
3) to assign revenues
4) a cutoff point
5) accrual accounting
6) expenses applicable
to the period
7) prudence rule
8) realizable
9) net value
10) manual methods
11) cost concept
12) dual aspect concept
13) matching
14) stay with a rule
a) могущий быть проданным, реализованным
b) методы ручного труда, немеханизированные методы труда
c) принцип двойственности
d) причинно-следственные связи
e) корректировка счетов
f) точка отсчета
g) расходы, понесенные в данный период
h) учет по поставке и реализации, учет
по методу начислений
i) приведение в соответствие доходов
и расходов
j) придерживаться правила
k) принцип стоимости
l) чистая стоимость
m) принцип осмотрительности
n) отнести доходы
3. Look through the text and find the words which mean the fol-
lowing:
1) the rule of accounting that revenue must be assigned to the ac-
counting period in which the goods were sold or the services performed,
and expenses must be assigned to the accounting period in which they were
used to produce revenue;
2) a point in time which shows the end of one period and beginning of
the next one;
3) all techniques developed by accountants to apply the matching
rule;
4) the traditional measurement basis employed in accounting under
which assets and liabilities are recorded at their original cost and revenues
and costs are recorded at their nominal values;
5) a change in an account that makes it more accurate;
6) an accounting concept which requires accounts to be prepared on a
cautious rather than an optimistic basis as regards the valuation of assets
and liabilities and the measurement of revenues and expenses.
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4. Match a line in A with a line in B to define the following terms:
A B
1) Historic Cost
2) Accruals Basis
3) Dual aspect
4) Prudence
a) The normal basis of preparing accounts when
the income and expense effects of transactions are
incorporated in the enterprise’s accounts whether
or not they have as yet resulted in cash flow consequences and matched with one another so far as
a relationship can be established.
b) The rule which means that normally an accountant will take the figure which will understate
rather than overstate the profit.
c) The traditional measurement basis employed
in accounting under which assets and liabilities are
recorded at their original cost and revenues and
costs are recorded at their face values.
d) The concept which states that there are two
aspects in accounting, one represented by the assets of the business and the other by the claims
against them, and that these two aspects are always equal to each other.
5. Fill in the blanks using the words from the list in the bottom.
A
Accrual Accounting and Two Broad Ways of Accomplishing it:
Accrual accounting consists of all the techniques developed by accountants to apply 1)__________. The two general 2) __________ of accomplishing it are by recognizing revenue when 3) __________ and expenses when 4) __________ and by 5) __________ the accounts.
a) ways; b) the matching rule; c) earned; d) adjusting; e) incurred
B
The accounting period problem recognizes that net income measurements for short periods of time are necessarily tentative. The continuity
problem 1) __________ that even though businesses face 2) ___________ ,
accountants must assume that without evidence to the contrary, a business
3) _____________ indefinitely. The matching problem results from the
difficulty of 4) _____________ revenue and expenses to a period of time
and is solved by application of 5) _______________ .
a) assigning; b) an uncertain future; c) recognizes; d) the matching
rule; e) will continue
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6. Say whether these statements are true (T) or false (F) and if
they are false say why:
Statements T F
1. An accounting period by definition must end on a
particular day.
2. On that day the balance sheet must contain all assets
and liabilities of the coming period.
3. The income statement must contain all revenues and
expenses applicable to the coming period.
4. Business is recognized as a continuous process.
5. Since business is a continuous process no accounts
need adjustments.
Adjectives: positive and negative forms
7. Complete the table by giving the missing positive or negative
form of each adjective. You will find some of the missing words in the
text. What different negative prefixes do you notice?
Can you think of other examples of each type of negative?
When you have finished, complete the sentences below by choosing
the best negative adjective from your table:
Positive adjective Negative adjective
respective
variable
similar
valid
skilled
logical
inapplicable
irrelevant
inconsistent
incomparable
limited
rational
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1. The market's enthusiasm for high-tech stocks was ___________
but understandable.
2. I know it's __________ to worry so much, but I just can't help it.
3. These are two very _________ languages.
4. Your arguments are ___________ .
5. Why is the Minister so _____________ in his approach to animal
welfare?
6. The original date of the translation is _________ to its value as a
historical source.
7. Our ISP offers you _________ access to the Internet.
8. The beauty of Venice is ____________ .
9. When anything went wrong, his ____________ response was to
blame others.
10. We consider all qualified job applicants, __________ of sex or
age.
Vocabulary revision: accounting terms.
8. You have learnt a lot of terms used in accounting. This activity
will help you to remember many of them:
Types of accounting
cost accounting, …
Who uses accounts
owners, …
to draw up a
statement, …
Actions
Types of accounts
capital account, …
Key figure in the
Ideas
objectivity, …
accounts
sales, …
Check that you can remember what all the terms mean!
Compare your completed boxes with someone else.
DISCUSSION POINTS
1. Discuss the considerations that management should take into ac-
count in determining the design of an accounting system which will satisfy
both its own information requirements and its obligation to provide external
reports on the entity which it manages.
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2. There are several possible approaches which accountants can employ in the measurement of the economic activities in which enterprises
engage. Assess which measurement bases are most likely to provide the
different stake holders associated with an enterprise with the information
that they require.
3. Accountants have developed criteria which they employ for the
recognition of the economic activities of enterprises. How appropriate are
these criteria for stakeholders who may wish to make decisions about their
relationships with an enterprise?
4. Explain which accounting rule would be applied in the following circumstances:
a) The purchase of premises for £75,000 in 1984 and which has a re-
sale value of in 2000.
b) A customer, who is facing bankruptcy, owing £5,150.
c) A phone bill incurred in the current year ended 31/12/2002 but
which will not be paid until 16/1/2003.
d) Small levels of stock of stationery valued at £75. Ordinary stock
has a value of £76,500.
e) The value of having a good sales manager. If he/she left, the firm's
annual level of sales would fall by £300,000.
f) The demand by shareholders to be told exactly how much was
spent on every identifiable cost in the past year.
g) Management's wish to change the basis of calculating depreciation.
GLOSSARY
accrual accounting учет по поставке и реализации, учет по методу
начислений
adjust v. регулировать; выверять, настраивать
anarchic adj. анархический
apparent adj. видимый, несомненный, открытый, очевид-
ный, явный
applicable adj. применимый, подходящий, пригодный
artificial adj. искусственный, ненатуральный, не природный
ascribe (to) v. приписывать
assign v. назначать, определять, устанавливать; припи-
сывать
boundary adj. граничный, ограничивающий
break down v. разбирать (на части); делить, подразделять,
расчленять; классифицировать
cautious adj. осторожный, осмотрительный, предусмотри-
тельный
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circumscribe v. ограничивать (права, свободу)
compilation n. составление (сводок, таблиц, документов)
consequence n. (по)следствие, результат (чего-либо)
consistency n. постоянство
cutoff point точка отсчета
demise n. прекращение деятельность
disappointingly adv. неутешительно
distorting adj. искажающий; деформирующий
ensure v. гарантировать, обеспечивать, ручаться; удо-
стоверить
eventually adv. в конечном счете, в итоге, в конце концов; со
временем
extracting выделение, извлекающий, удаляемый
extreme n. крайность
face values
hatch v. высиживать (цыплят); насиживать (яйца)
human asset
accounting
irrespective adj. безотносительный, независимый
lay down v. устанавливать, утверждать
legitimate законный, легальный; легитимный; разумный,
limited liability
company
matching n. принцип согласования доходов и расходов;
plethora n. изобилие, большой избыток
prudence n. благоразумие, дальновидность, предусмотри-
quantifiable adj. поддающийся количественному определению
relevance n. релевантность; значимость; существенность;
revised adj. исправленный, переработанный, проверенный
seek v. добиваться, стремиться
skilled adj. искусный, квалифицированный, умелый,
straightforward adj. простой (о стиле, языке и т.д.)
tight-fisted adj. скаредный, скупой
underlying adj. основной; лежащий в основе
urge v. подгонять, подстегивать; убеждать, советовать
worthwhile adj. стоящий, дающий результат
98
учет человеческого капитала
правильный, логичный; приемлемый; допус-
тимый
товарищество, общество, компания с ограни-
ченной ответственностью (обычно в пределах
уставного капитала)
правило увязки счетов
тельность, рассудительность (качество)
важность
опытный
U n i t 6
ACCOUNTING FOR DIFFERENT ORGANISATIONS
BEFORE YOU READ
1. There are many different sorts of businesses. Among the most
numerous are sole traders, who are also known as sole proprietors or
sole owners. Other types include partnerships, limited companies, cooperatives and public corporations.
Think of the criterion on which the classification is based.
2. A sole trader is sometimes called ‘Jack of all trades’. What does
it mean?
3. Imagine that you are a sole trader. Think of as many reasons as
you can for bringing a partner into your business. The beginning of the
list has been done for you:
• Additional skills – a new partner may bring new talents into the
business which may help improve the range of products or services offered.
• Shared strain – partners help share the worry and workload of the
business, so that the excessive hours and overwork experienced by many
sole traders are reduced.
• …………………………………………………………………….
• …………………………………………………………………….
• …………………………………………………………………….
• …………………………………………………………………….
READING FOR GIST
1. Skim the text about different formats of businesses. Find an
appropriate heading for each section (letters A – G):
1) sole tradership;
2) types of business format;
3) the books of account of the partnership;
4) private and public companies;
5) case study;
6) limited liability company;
7) accounts of limited liability companies;
8) partnerships.
99
A
Accountants provide information to, and about, businesses. However,
there are different formats of businesses, each with its own peculiarities,
and the accountant is expected to be aware of the difference and special
needs of each type.
The three common types of business format are:
1) sole traderships;
2) partnerships;
3) limited liability companies.
There are other formats, such as cooperatives, banks and investment
trusts, but they are either very specialized with their own accounting methods or relatively rare.
B
As the name suggests, sole traderships are ‘one-person shows’. They
are owned exclusively by one person who is responsible for all policy decisions such as what the business will do and how it will work. The name
does not mean that the business has only one person in it – there could be
many employees. It simply means that there is only one owner. It is a form of
business most common in the service sector, and is typically a small newsagent’s shop or a tradesman’s business such as plumbing or decorating.
There are really no formalities involved in starting as a sole trader, it is
just a question of finding a niche in the market and getting going. Relatively
little capital is needed to start the business. The owner can use his private
savings or get short-term loans from banks to run the business.
Being a sole trader means that the owner has total control over the
management of the business, shares its profits with nobody and need tell
nobody about its success or otherwise (except for the Inland Revenue).
But the disadvantages of this form of business organization are great:
1. With rare exceptions, the financial resources of a sole tradership
are insufficient to permit the firm to grow into a large-scale enterprise. Finances are usually limited to what the owner has in his or her bank account
and to what he or she is able to borrow.
2. Burden of responsibility cannot be shared. Being in complete control of an enterprise forces the owner to carry out all basic management
functions. An owner must make all basic decisions concerning, for example,
buying, selling, and the acquisition and maintenance of personnel, not to
mention the technical aspects which might be involved in producing, advertising, and distributing the product.
3. Most important of all, the owner’s liability is unlimited. This
means that individuals in business for themselves risk not only the assets of
the firm but also their personal assets. Should the assets of an unsuccessful
sole tradership be insufficient to satisfy the claims of creditors, those credi-
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