- •The ok accountant успешный бухгалтер
- •Contents
- •От авторов
- •Unit 1 What Is Accounting
- •Accounting
- •Exhibit 1. Users and Uses of Accounting Information
- •Information
- •|Unit 2. Evolution of accounting
- •Venture Trading
- •Early History
- •Unit 3 accounting profession
- •The Profession of Accounting in the usa
- •Nature of Accounting Work
- •The Changing Genderization of the Work Force
- •Unit 4 Bookkeeping getting started
- •Bookkeeping
- •2. Complete the following sentences by using Gerunds of the verbs in brackets; translate the sentences into Russian.
- •1. Referring to round figures
- •2. Percentages
- •5. Ratio
- •Drawings 3672.00
- •Unit 5 financial reporting
- •Financial Statements
- •The Balance Sheet
- •Text 3 The Income Statement
- •Intangible asset accounts receivable short-term liabilities bank debts
- •Snark International Balance Sheet
- •31 December ___
- •Supplementary reading Unit I What Is Accounting Accountancy
- •Early History of Accounting
- •The Forms that Companies Take
- •Changing Skills, Changing Job Titles
- •Deloitte Touche Tohmatsu
- •Real People Profiles
- •Interviewing Tips
- •Bookkeeping
- •Tapescripts
- •Dialogue 1
- •Dialogue 2
- •Answer Key
- •Appendix Guidelines to Summarizing and Abstracting Summaries
- •Steps in Summarizing
- •Abstracts
- •Introducing the subject / theme of the text:
- •Introducing the key ideas, facts and arguments:
- •● The author makes/gives a comparison of … with… / between … and…
Snark International Balance Sheet
31 December ___
ASSETS |
LIABILITIES | ||
Cash |
£40 000 |
Accounts payable |
£90 000 |
Accounts receivable |
70 000 |
Salaries payable |
50 000 |
Inventories |
100 000 |
Mortgage from |
|
Factory building |
|
insurance company |
150 000 |
(original value £250 000) |
200 000 |
Bank loan |
60 000 |
Other equipment |
|
|
______ |
(original value £300 000) |
180 000 |
|
350 000 |
|
______ |
Net worth |
240 000 |
|
590 000 |
|
590 000 |
|
|
|
|
4. Using your notes and the figure above answer the following questions about the details of the lecture.
1) What was the subject of the reading assignment?
2) What does the income statement show?
3) What does the balance sheet describe?
4) What does the balance sheet list?
5) Where are assets listed?
6) What assets are known as the money owed by the customers but not yet received?
7) Why is the current value of the factory and equipment less than their original value?
8) Which item on the Snark’s balance sheet stands for bills that Snark hasn’t yet paid?
9) What else does Snark have to pay?
10) How much liabilities do they have?
11) Why is Snark’s net worth shown as a liability?
12) How much will you have to offer if you decide to buy Snark?
WRITING
1. Study the graph below as well as its description.
In the period between Feb 2010 and Jan 2011, an upward trend was recorded in the growth rate of retail sales peaking at x% at the end of the observed period. Having reached a low towards the end of January 1999, retail sales started rising in February, slipped back in March and remained stable at X% throughout April. A sharp increase to X% is visible in early May followed by an abrupt drop to X% in June. Retail sales climbed back to X% in July. They went up mildly in August and continued rising in September.
2. Find a graph illustrating a company’s performance or describing some other economic indicator, write a paragraph similar to that given above: make your description varied by using appropriate phrases from the Focus on Functions section of the Unit.
Supplementary reading Unit I What Is Accounting Accountancy
Accountancy (profession) or accounting (methodology) is the measurement, disclosure or provision of assurance about information that helps managers and other decision makers make resource allocation decisions. Financial accounting is one branch of accounting and historically has involved processes by which financial information about a business is recorded, classified, summarized, interpreted, and communicated. Auditing, a related but separate discipline, is the process whereby an independent auditor examines an organization's financial statements in order to express an opinion − that conveys reasonable but not absolute assurance − as to the fairness and adherence to generally accepted accounting principles, in all material respects.
Practitioners of accountancy are known as accountants. Officially licensed accountants are recognized by titles such as Chartered Accountant (UK, Canada, India, Australia), Certified Public Accountant (US, Hong Kong), etc.
Accountancy attempts to create accurate financial reports that are useful to managers, regulators, and other stakeholders such as shareholders, creditors, or owners. The day-to-day record-keeping involved in this process is known as bookkeeping.
At the heart of modern financial accounting is the double-entry book-keeping system. This system involves making at least two entries for every transaction: a debit in one account, and a corresponding credit in another account. The sum of all debits should always equal the sum of all credits. This provides an easy way to check for errors. This system was first used in medieval Europe, although claims have been made that the system dates back to Ancient Greece.
According to critics of standard accounting practices, it has changed little since. Accounting reform measures of some kind have been taken in each generation to attempt to keep bookkeeping relevant to capital assets or production capacity. However, these have not changed the basic principles, which are supposed to be independent of economics as such.
Unit 2 Evolution of Accounting