Vocabulary exercises
Ex.1. Supply prepositions where necessary.
as/about,'by/during/for/from/in/into/of/ on / on behalf of/ out /to/ through / with
a\ 1. Commercial banks of Russia have developed ... the past few yy<*fs. 2 The Central Bank acts ... the Government and works ... close cooperation with the other banks of Russia. 3. It is ... the Central Bank that the Government's monetary policy is implemented. 4. Savings banks receive money ... Ir.eir customers in two forms: ... current account and deposit account- 5.... a airrsnt account a customer can issue cheques. 6. No interest is paid... British bankc .. current accounts. 7. Commercial banks receive money ... savers ... current and deposit accounts. They work ... profit and earn interest... the bank.
b) The man decided to open an account... the bank and to put some -*зпеу .,. his account. He asked the bankers ... the interest he might pet. . his icney. Then he decided to draw ... some dollars. He intended to transfer his money ... another bank because the bank's charges ... all services are rather htg!..
I'd !ike to buy some foreign currency and-, change roubles ... dollar Here is a cheque ... roubles. It is a cheque ... 1000000 roubles ... my name.
Ex.2. Complete the sentences with the words from the box
Г bank borrowers current close discount draw out opsn ! exchange interest lenders limit settlement status VAT !
The sum ... pay to ... for the use of their money is determined bv the ... rate.
1 he value of the money of one country compared to that of another is shown by the ...rate .
The rate of the tax added to the price of an article, paid by the buyer to the seller, #ndby the seller to the government is the ... rate.
The rate of interest fixed by a central bank, such as the Bank of England, *sthe... rate
The bank account that covers daily needs - salaries are paid into it. C3sh is drawn from it, and cheques are written against it - is the ... account.
6. To start an account with a bank or with a supplier is to ... it; to finish an account with a bank or with a supplier and formally to end the
arrangement is to ...it.
7. To obtain cash from bank at which ono has an account is to cash,
8. An enquiry to a bank, asking whether a customer is credit-worthy, is у • enquiry.
9 Paying of a debt in cash is a cash .... Ю. The greatest sum which debtors are allowed to owe is their credit....
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A percentage deduction made for an order over a stated value, or) payment within a stated time, is a ....
Credit terms is a statement of how much ... is available and for what. It appears on an invoice.
Ex.3. Look at these two pictures and find the six objects in them which start with the word «cash».
I. Read these short dialogues and act them out.
Next, please.
I'd like to cash this cheque, please.
Yes, madam 30 Oh! You haven't signed it yet, madam.
Haven't I? Oh, I'm terribly sorry. Here you are.
Thank you. How would you like the money?
Four fives and ten ones, please.
* * * *
I'd like to change these francs, please.
Yes, sir. How many francs have you got?
200. What's the rate of exchange, please?
The current rates are on the notice board, sir.
* * * *
I'd like to buy this.... But I haven't got enough cash with me. Do you take travellers cheques?
Certainly, sir.
Good. How much is that?
It's 30.
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What s the exchange rate?
I'm not sure sir. П! go and check. Do you have American or Canadian dollars? Swiss francs?
Good morning. Can I help you?
Yes, my name is Davies. f'm expecting some money from my bank in Toronto.
By post, cable or telex, sir?
By telex.
-Let me see. Ah, yes. Davies. 200. from Royal Bank of Canada, Toronto, Have you got any identification, sir?
Well, I haven't got my passport, but I've got my driving licence. Will that be all right?
Yes, sir. That'll be all right.
Bank Manager: Come in. You're Mr.Carson, aren't you? Please, have a
seat.
Mr. Carson : Thank you.
Bank Manager: What can I do for you, Mr.Carson?' Mr. Carson : Well, I want to borrow some money. Bank Manager: What for?
Mr. Carson : I'm going to buy a car. I've been saving for two years. Bank Manager: Ah, how much have you saved? Mr. Carson : I've saved about a thousand pounds.
* * * *
-1 was wondering if the head office of your bank is open on Sundays. ь -Oh, no. It is closed. Like other banks. ,, ,;
And what are the usual banking hours? . , -:
From 9 in the morning till 1 in the afternoon Monday .through-Friday. •<;;<
And what about the day before a big holiday? - r,
On those days bank closes at noon. , - ..•>-, • ^ .• ••.,,.
-1 see. Many thanks. •••? - -v:-. ' ;,',>.• :;'r. .>
-Glad to be of service. ., • v,. ,.
and discuss this humorous story. Speak about your own banking experiences if you have any.
Does the bank frighten you?
Is it good to be afraid of the bank?
What may come out of it?
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When I get into a bank I get frightened. The clerks frighten me; the desks frighten me; everything frightens me. I knew this before, but my salary had been raised to fifty dollars a month and 1 felt that the bank was the only place for it. So I walked in and looked round at the clerks with fear. I had an idea that a person who was about to open an account must necessarily consult the manager.
I went up to a place marked «Accountant». The accountant was a tall man. He frightened me.
«Can I see the manager?» I said, and added, «alone». I don't know why I said «alone».
«Certainly,» said the accountant, and brought him. The manager was a calm, serious man. «Are you the manager?» I said. I didn't doubt it. «Yes,» he said. «Can I see you, alone». I didn't want to say «alone» again, but without this word the question seemed useless. The manager looked at me with some anxiety. He felt that i had a terrible secret to tell. «Come in here,» he said, and led the way to a private room. He turned the key in the lock. «We can talk here,» he said, «sit down». We both sat down and looked at each other. «You are one of Pinkerton's detectives,! suppose,» he said. My mysterious manner had made him think that I was a detective. «No, not from Pinkerton's,» I said- «To tell the truth,» I went on, «I am not a detective at all. I have come to open an account. I'd like to keep al! my money in this bank».
The manager looked relieved but still serious; he felt sure now that I was a very rich man, perhaps a son of Baron Rothschild.
«A large account, I suppose,» he said. «Fairly large,» I answered. «I intend to place in this bank the sum of fifty-six dollars now and fifty dollars a month regularly». The manager got up and opened the door. He called to the accountant. «Mr. Montgomery,» said the manager unkindly loud, «this gentleman is opening an account. He will place fifty-six dollars in it. Good morning». I stood up. «Good morning,» 1 said and walked to the accountant's position. I pushed the money at him with a quick, sudden movement. My face was terribly pale.
«Here,» I said, «put it in my account». He took the money and gave it to another clerk. He asked me to write the sum on a bit of paper and sign my name in a book. I no longer knew what I was doing. The bank seemed to swim before my eyes.
«Is it in the account?» I asked in a shaking voice. «It Is,» said the accountant. «Then (want to draw a cheque». My idea was to draw out of it six dollars for the present use.
Someone gave me a cheque-book and someone else told me how to write it out. I wrote something on the cheque and pushed it toward the clerk. He looked at it.
«What! Are you drawing it ail out again?» he asked in surprise. Then I realized that 1 had written fifty-six dollars instead of six. 1 had a feeling that it was
impossible to explain the thing. д11 the clerks had stopped writing to look at me. Then I fnade a decision.
«Yes, the whole thing». «You wish to draw your money out of the bank?» «Every cent of it». «Are you not going to put any more in the account?» said the clerk. «Never». The clerk prepared to pay the money. «How will you have it?» I answered without even trying to think, «tn fifty-dollar notes.» He gave me a fifty-dollar note. He gave me six dollars as well and rushed out. As the big door closed behind me I heard the sound of laughter. Since then I use a bank no more. I keep my money and my savings in a sock.
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C0st accountant
overheads
goodwill
advisory services consulting return on investment credible report
Text A
бухгалтер по учету издержек; бухгалтер-калькулятор
накладные расходы
-деловая репутация, клиенты и кадры компании, то есть её актив, который может быть занесён на специальный счёт
консультации,консалтинг
доход с инвестиции
достоверный отчёт
Role of accounting
Topical vocabulary
fiscal
record making
actual making of records
be concerned with
financial statements issued
by the business operate at a profit meet commitments accounting data accounting equation financial accounting assets liabilities tax liability tax returns debts / money owing owner's equity net worth
management accounting public accounting CFA (certified public
accountant}
chartered accountant (UK) executive
controller /comptroller internal auditors cost accounting
финансовый
ведение бухгалтерских записей
простая регистрация
заниматься чем-пибо
отчёты, представляемые фирмой
работать с прибылью, давать прибыль
выполнить обязательства
бухгалтерская отчётность
бухгалтерская сбалансированность / баланс
финансовое счетоводство
активы
пассивы, обязательства
задолженность по налоговым платежам
налоговые ведомости
задолженности
собственный капитал
чистый капитал
управленческий учёт
независимый бухгалтерский учёт
дипломированный бухгалтер, выдержавший необходимые экзамены
руководящий работник
главный бухгалтер компании в США
внутренние аудиторы /ревизоры
учёт издержек производства, коммерческий
расчёт
Accounting frequently offers the qualified person an opportunity to move ahead quickly in today's business world. Indeed, many of the heads of large corporations throughout the world have advanced to their positions from the accounting department. In industry, management, government, and business, accountants generally are near the top rather than near the bottom of the organization chart. Management relies on the expert knowledge and experience of accountants to cope with the increasingly complex problems of taxes and cash flow.
Accounting is a basic and vital element in every modern business. It records the past growth or decline of the business. Careful analysis of these results and trends may suggest the ways in which the business may grow in the future. Expansion or reorganization should not be planned without the proper analysis of the accounting information; and new products and the campaigns to advertise and sell them should not be launched without the help of accounting expertise.
Government officials often have a legal background*; similarly, the men and women in management often have a background in accounting. They are usually familiar with the methodology of finance and the fundamentals of fiscal and business administration.
* * *
Today, a sharp distinction is made between the relatively unchanged work Performed by a bookkeeper and the more sophisticated duties of the accountant. The bookkeeper performs the routine work of recording figures in the books, whereas the duties of an accountant extend far beyond* the actual making of records. Accounting is concerned with the use to which these records are put, their analysis and interpretation. An accountant should be studying the various a|ternatives open to the business, and be using his accounting experience in Or(ler to aid the management to select the best plan of action for the business
Accounting is often said to be the language of business. It is used in the world to describe the transactions entered into* by all kinds of
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organisations. Accounting terms and ideas are therefore used by peop|e associated with business, whether they are managers, owners, investors bankers, lawyers, or accountants.
The owners and managers of a business will need some accounting! knowledge in order that they may understand what the accountant is telling them., Investors and others will need accounting knowledge in order that they may: read and understand the financial statements issued by the business, and adjust their relationships with* the business accordingly.
Probably there are two main questions that the managers or owners of aj business want to know: first, whether or not the business is operating at a profit; second, they will want to know whether or not the business will be able to meet its commitments as they fall due*, and so not have to close down owing to lac* of funds. Both of these questions should be answered by the use of the accounting data of the firm.
The accounting equation
The whole of financial accounting is based on the accounting equation. The resources possessed by the firm are known as Assets, and obviously, some of these resources will have been supplied by the owner of the business. The] total amount supplied by him is known as Capital, if in fact he was the only one who had supplied the assets then the following equation would hold true:
On the other hand, some of the assets will normally have been provided by someone other than* the owner. The indebtedness of the firm for these resources is known as Liabilities. The equation can now be expressed as:
Assets - Capital + Liabilities
Assets consist of property of all kinds, such as buildings, machinery, stocks of goods and motor vehicles, also benefits such as debts owing by customers and the amount of money in the bank account.
Liabilities consist of money owing for goods supplied to the firm, and for expenses, also for loans made to the firm-Capital is often called the owner's equity or net worth.
a legal background
extend far beyond
entered into
adjust relationships with
as they fall due
other than
put to use
юридическое образование
выходить далеко за рамки
в которых участвуют
строить отношения с
когда придёт срок (погашения)
помимо, кроме
использовать, употребить
Text В
The field of accounting
The field of accounting is divided into three broad divisions: management, puplic and governmental accounting.
Management accounting
An accountant who is employed by a business is said to be in management accounting. Managerial (management) accountants work with the kinds of financial reports necessary to management for the efficient operation of the company, including budgets and cash flow projections*. A small business may have only one or a few people doing this work. As companies grow, their accounting staffs become increasingly specialized, and a medium-size or a large company may employ hundreds of people in their headquarters and branch offices for the purpose of fiscal administration. They are working under a chief accounting officer called a controller (or comptroller as he or she is often cal'ed), or financial vice-president. This position is very close to the top management. Indeed, a controller is often just a step away from the executive officer at' а corporation. Other positions thai may be held by accountants at lower managerial levels are assistant controller, internal auditor, system analist, financial accountant, and cost accountant. Those who work for manufacturing concerns are sometimes called industrial accountants.
Internal auditors are in charge of the protection of the firm's assets - the things of value owned by the company, including cash, securities, property, and even goodwill. The internal auditor sees that* current transactions are recorded promptly and completely. He or she also identifies inefficient procedures or detects fraudulent transactions. He or she is usually called upon to propose solutions for these problems.
One cf the specialities within the management accounting field is cosf. accounting, which is chiefly concerned with determining the unit cost of the products the company manufactures and sells. The unit cost must include not only the price of the materials in the product, but also other expenses, including labour and overheads. Without unit costs, manufacturing firms could not accurately deteimine the price they must sell their products for in order to bring an adequate return on investment.
Public accounting
The field of public accounting offers services in auditing, taxes., and ^anagement consulting to the public for a fee. A certified public accountant, or pPA. as the .term is usually abbreviated, must pass a series of examinations, after which he or she receives a certificate. This is done to protect the public by erisuring a high quality of professional service.
Auditing. The most important and distinctive function of a certified public accountant is auditing, which is the examination and testing of financial statements. Society relies heavily on the auditing function for credible financial
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reports. All public corporations and many companies that apply for sizable loans must have their financial statements and records audited by an independent public accountant.
Tax services. As the tax laws have grown increasingly complex, not only corporations but also individuals need to have their tax liability calculated. So, public accountants assist businesses and individuals in preparing tax returns* and complying with* tax laws. They also help plan business decisions to reduce taxes in future. Tax accounting calls for much knowledge and skill regardless of the size of business. Few business decisions are without tax effects.
Management advisory services. A growing and important part of most public accounting firms'practice is management advisory services, or consulting. With their intimate knowledge* of a business's operations, auditors can make important suggestions for improvements. In the past, these recommendations have dealt mainly with accounting records, budgeting and cost accounting. But in the last few years they have expanded into marketing, organisational planning, personnel and recruiting, production systems, and many other business areas.
CPAs are similar to doctors or lawyers. Like them, CPAs may be self-employed or partners in a firm; they may be employed by an accounting firm.
Government accounting
Many accountants work in government offices or for nonprofit organizations either regularly or on a part-time basis. These two areas are often joined together under the term «governmental and institutional accounting». Like those in private industry, they work on a salary basis. They tend to become specialists in limited fields like transportation or public utilities.
projection - перспективная оценка, прогноз
sees that - следит за тем, чтобы
tax returns - сведения о доходах, облагаемых налогом
complying with the law - приведение в соответствие с законом
with their intimate knowledge - благодаря их близкому знакомству
on a part-time basis - на основе почасовой оплаты
Text С
Audits - the year-end nightmare
time and use), they write down its value to a realistic one. Although VAT have to be submitted to the Customs and Excise authorities every three months, they are checked again during the audit.
A public company - one whose shares are quoted on the Stock Exchange I must lodge its accounts in Companies House, where they are available to the Dublic and to possible investors.
The annual audit is a legal requirement in Britain: many professional firms of accountants only do this work and do not need to undertake any other type of work.