Early History

It is not surprising that evidence of (1)_____ of economic events has been (2) _____ in earliest civilizations. Dating back to the (3)_____ tablets used by Mesopotamians of about 3000 b.c. to (4) _____ tax receipts, accounting has responded to the (5)_____ needs of users. In 1494, Luca (6)_____, a Franciscan monk and mathematics professor, (7)_____ the first known text to describe a comprehensive (8)_____ bookkeeping system. Modern bookkeeping systems have (9)_____ directly from Pacioli's "method of (10)_____ " system, which was developed in response to the (11)_____ of the Italian mercantile trading practices in that (12)_____.

The Industrial Revolution generated the need (13)_____ large amounts of capital to finance (14)_____ enterprises that supplanted (вытеснять) individual craftsmen. This need resulted (15)_____ the corporate form of organization characterized (16)_____ absentee owners, or investors, who entrusted their (17)______ to managers. It followed that investors required (18)_____ from the corporation managers showing financial (19)_____ and results of operations. In mid-19th (20)_____ England, the independent (external) audit function added credence (доверие) to (21)_____ reports. As British capital was invested in a growing U.S. economy (23)_____ the late 19th century. British chartered (24)_____ and accounting methods came to the United (25)_____.

2. Write a paragraph of about 50 words explaining in your own words how the double-entry booking system works.

Unit 3 accounting profession

GETTING STARTED

Discuss the following questions with your partners.

1. What is the difference between job duties of bookkeepers and accountants?

2. How can a person in your country become a bookkeeper? an accountant?

3. What are the career opportunities in the accounting profession in your country?

USEFUL VOCABULARY

Make sure you know the following words and word combinations.

industry accounting	учет в отраслях
government accounting	государственный учет (учет в организациях государственного сектора)
public accounting	общественный (независимый) учет и аудит
public accountant	общественный (независимый) бухгалтер
certified public accountant	дипломированный независимый бухгалтер
government accountant	бухгалтер государственных учреждений
bookkeeping clerks	бухгалтеры, счетоводы
controller	финансовый руководитель, главный бухгалтер
chief financial officer	главный финансовый директор
transaction n	сделка, операция
payroll n	платежная ведомость
receipts n (pl)	выручка
charges n (pl)	расходы, издержки
invoice n	cчет-фактура
accounts payable	кредиторская задолженность, счета к оплате
accounts receivable	дебиторская задолженность, счета к получению
debit and credit posting / entry	проводка/запись по дебету и кредиту
procurement n	закупка, снабжение
aptitude test	проверка способностей
application n	заявление
CV (curriculum vitae) = résumé	автобиография, резюме (краткое описание образования, профессионального опыта и способностей, направляемое потенциальному работодателю)
cover letter	сопроводительное письмо
remuneration n	компенсация, оплата, вознаграждение
earnings n pl	заработок, прибыль
wages n; salary n	заработная плата, жалованье, оклад
fee n	вознаграждение, гонорар, заработная плата
royalty n	авторский гонорар,отчисление, процент
fringe benefits=perks n	дополнительные льготы
revenue n	доход, выручка
income n	доход

READING

Text 1

1. Read the following text and supply the missing entries in the Chart below.