1.Read and translate the text: bookkeeping

Bookkeeping is writing down all the transactions arising from business activities which can be expressed in money. To run your busi­ness well you must know what money you have received, how much money you have spent and, most important of all, how you spent it. A bookkeeping system can provide you with that information. The books used for keeping records consist of a ledger and subsidiary books.

The ledger is the general book in which you enter almost all the figures arising from your business activities. A ledger consists of a number of accounts. A chart of accounts serves as an index to the ledger, and each account is numbered to facilitate the frequent references that are made to it. An account is a column in the ledger that has been given a specific name, e.g. Cash, Bank, Sales and etc.

The invoice book helps you to remember who owes the business money for goods and services you have sold but have not been paid for. When you have delivered a commodity or provided a service you send an invoice to the customer. You keep a copy of the invoice in the invoice book.

The purchase journal is used to write down details of goods and services bought on credit which are not yet paid for. The invoice you receive from the supplier is kept in the purchase journal until it is fully paid.

The wages book. In this book you make notes about your employ­ee names, wages, advance payments and so on.

Notes to the text:

provide with – предоставлять, надавати

subsidiary books – вспомогательные книги, допоміжні книги

figures arising from – цифры, полученные в результате; цифри, отримані

внаслідок

invoice book – книга счетов, книга рахунків

2. Complete the following sentences:

1. ______ can provide you with financial information.

2. The ledger is _____ .

3. The invoice book is _____ .

4. The purchase journal is _____ .

5. The wages book is _____ .

3.Speak about: ledge, invoice book, purchase journal, wages book.

Use the phrases: I’ll start by…, Further, I’ll pass over to…, From this it follows that…, Consequently, it is possible that…, Let me now make some comments on…, To conclude….

TEXT 4

1. Read and translate the text:

ACCOUNTING AND BOOKKEEPING

Accounting is the process of identifying, measuring, recording, communicating and interpreting financial activity. Many people think of accounting as a highly technical field which can be understood only by professional accountants. Actually, nearly everyone practices accounting in one form or another on an almost daily basis.

Persons with little knowledge of accounting may also fail to understand the difference between accounting and bookkeeping. Bookkeeping means the recording of transactions, the record-making phase of accounting. The recording of transactions tends to be mechanical and repetitive; it is only a small part of the field of accounting and probably the simplest part. Accounting includes the design of accounting systems, preparation of financial statements, audits, cost studies, development of forecasts, income tax work, computer applications to accounting processes, and the analysis and interpretation of accounting in formation as an aid to making business decisions. A person might become a reasonably proficient bookkeeper in a few weeks or months; however, to become a professional accountant requires several years of study and experience.

There are a number of professional accounting organizations which provide education and training leading to a certificate in accountancy. The education, training, and examination requirements vary considerably among these professional organizations. The members of these professional organizations tend to specialize in a given subarea of their discipline just as do attorneys and members of other professions. In terms of career opportunities, the field of accounting may be divided into three broad areas: (1) public accounting, (2) private accounting, and (3)governmental accounting.

Public accountants are independent professional persons comparable to attorneys or physicians, who offer accounting services to clients for a fee. The specific requirements regarding the right to practice public accounting vary. The practice of public accounting is either open to anyone or just open to members of the professional accounting organizations. The chartered accountants, however, constitute the most prominent group in public accounting.

Notes to the text:

design of accounting system - разработка системы бухгалтерского учета, розробка системи бухгалтерського обліку

development of forecasts – прогнозирование, прогнозування

in terms of – с точки зрения, з огляду на

chartered accountant - дипломированный бухгалтер высшей категории, дипломований бухгалтер вищої категорії