Exercises

I. Find in the text Ukrainian equivalents to the following words and word combinations and translate the sentences in which they are used.

Double-entry bookkeeping system; an accounting entry; to be lumped together; to be placed in separate accounts; to purchase equipment; inventory purchased on credit; to pay off the bank loan; raw data; to be performed on a continual basis; preparation of the trial balance; a receipt; an invoice; a sales slip; original entry; to show the dollar value of a business transaction; to occur frequently; to transfer information to a general ledger; to have a preconceived opinion; to have no validity; subtle implication.

II. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases.

Активи; власний капітал; пасиви; балансове рівняння; подвійний запис; головна бухгалтерська книга; журнал обліку господарських операцій; підтримувати баланс; частка власності; вкладати гроші в підприємство; збільшуватись на; банківська позика; звітний період; первинний документ; грошові надходження; грошові виплати; план рахунків; проводка; пробний баланс; загальнодоступний; цікавитись фінансовими справами фірми.

III. Task 1. Complete the text using the words and translate it into Ukrainian.

Credits; debits; invoice; double-entry; journals; ledger; posted; receipt; transactions; transferred; trial balance; vouchers.

Bookkeepers record every purchase and sale that a business makes, in the order that they take place, in ______(1). At a later date, these temporary records are entered in or ______(2) to the relevant account book or ______(3). Of course the “books” these days are likely to be computer files. At the end of an accounting period, all the relevant totals are ______(4) to the profit and loss account. ______(5) bookkeeping records the dual effect of every transaction – a value both received and parted with. Payments made or ______(6) are entered on the left-hand (debtor) side of an account, and payments received or ______(7) on the right-hand side. Bookkeepers will periodically do a ______(8) to test whether both sides of an account book match. In most business ______(9), the seller of goods or services sends the buyer a bill or ______(10), and later a ______(11) acknowledging payment. Business are obliged to retain the documents – known as ______(12) - that support or prove an item in an account, and make them available to the internal and external auditors who check the accounts. Bookkeepers are not to be confused with librarians, who also keep books, or with bookmakers, who “make books” in the sense that they accept bets (on horse races, etc.) and traditionally wrote them down in a book like a bookkeeper’s journal. Accountants, unlike bookkeepers, analyze financial records, and decide how to present them.

Task 2. Add appropriate verbs from the text above to these sentences and translate them into Ukrainian.

1. Bookkeepers ______ business transactions.

2. A debit is a payment ______.

3. A credit is a payment ______.

4. Debits are ______ on the left-hand side.

5. At the bottom of the page, bookkeepers ______ the totals.

6. Companies have to ______ invoices and receipts.

7. The auditors ______ the accounts.

8. Accountants, managers and shareholders ______ the accounts.