- •Chapter I accounting as a career. The basic accounting concepts
- •Text a the field of accounting
- •Exercises
- •VII. Read the text and describe four major accounting job categories.
- •Internal auditors
- •Becoming an accountant
- •Text b accounting concepts
- •Exercises
- •I. Find in the text the words to complete the following phrases and use them in the sentences of your own to illustrate their meaning.
- •II. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases.
- •III. What do the following abbreviations mean? Check the answers in the article below.
- •International accounting
- •IV. The article in Ex. III mentions four basic principles of accounting. Match them to the definitions below.
- •V. Complete the following statements and explain your choice.
- •VI Answer the following questions.
- •VII. Translate into English.
- •VIII. Revise the information given in Unit 1 and test yourself. Discuss your choice with your partner.
- •IX. Summarize the following texts in 50 words.
- •Situations for discussion
- •Chapter II the accounting process
- •Text a starting an accounting system
- •Exercises
- •I. Find in the text Ukrainian equivalents to the following words and word combinations and translate the sentences in which they are used.
- •II. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases.
- •III. Task 1. Complete the text using the words and translate it into Ukrainian.
- •IV. Fill in the missing prepositions. Translate the passages into Ukrainian.
- •V. Complete the following words.
- •VI. Fill in the missing words (choose from the box). Translate the passage into Ukrainian.
- •VIII. Answer the following questions.
- •IX. Translate into English.
- •Text b double-entry bookkeeping system
- •Exercises
- •II. Test yourself.
- •IV. Summarize the text in 50 words
- •Situations for discussion
- •Chapter III financial statements
- •Text a the balance sheet
- •Intangible Assets
- •Exercises
- •I. Find in the text Ukrainian equivalents to the following words and word combinations and translate the sentences in which they are used.
- •II. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases.
- •III. Answer the following questions.
- •IV. What kind of assets is each of the following? Which three are not assets? Explain your choice.
- •V. Accountants use different terms to denote the same notions. Match these accounting terms with the definitions below and translate them into English.
- •Intangible assets
- •VI. Fill in the missing entries in the Balance Sheet below. Choose from the following.
- •In the company’s books:
- •VIII. Translate into English.
- •Text b the profit and loss account (the income statement) the cash-flow statement
- •Exercises
- •I. Give Ukrainian equivalents to the following phrases and translate the sentences in which they are used.
- •II. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases.
- •III Answer the following questions.
- •IV. Match the terms to their definitions.
- •V. Fill in the missing words in the sentences below. Choose from the box.
- •VI. Here is a letter from a firm of accountants to a client. Complete the letter by inserting the missing phrases. Choose from the box below.
- •VII Task 1. Insert the following words in the gaps in the text and translate it into Ukrainian.
- •VIII. Insert the following expressions in the gaps in the text and translate it into Ukrainian.
- •IX. Match up the following British and American terms.
- •X. Task 1. Read the text and say what the best way to make the meaning of a company’s ratios clear is.
- •XI. Match the ratios listed in the text with their main functions.
- •Figure 3-3. The general scheme of interrelation of the Chart of Accounts and basic forms of financial reporting
- •XIII. Translate into English.
- •XIV. Revise the information given in Chapter III and decide which of these statements are true or false. Discuss the answers with your partner.
- •Situations for discussion
- •I. Read what different people say about financial statements and fill in the gaps with the words which are given below.
- •II. Which do you think are the two or three most important financial ratios? Why? chapter IV auditing
- •Introduction to auditing
- •Exercises
- •I. Find in the text Ukrainian equivalents to the following words and word combinations and translate the sentences in which they are used.
- •II. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases.
- •III Answer the following questions.
- •IV. What does an auditor do? Look at the following activities and decide which ones are normally done internally or externally.
- •V. Read passages describing some important aspects of general technology of auditing and answer the following questions.
- •VI. Read and translate the text. Say what risks an auditor must consider and what each type of the risks involve.
- •VII. Task 1. Read the text and answer the questions: What is the role of evidence? How are different kinds of evidence classified?
- •Task 1. Number the following words or expressions given in the box with their underlined equivalents in the text and translate the text into Ukrainian.
- •IX. Translate into English.
- •Text b auditor’s report
- •Auditor’s report on financial statements
- •Unqualified Opinion report
- •Qualified Opinion report
- •Disclaimer of Opinion report
- •Exercises
- •I. Find in the text Ukrainian equivalents to the following words and word combinations and translate the sentences in which they are used.
- •II. Find in the text English equivalents to the following words and word combinations. Make sentences of your own with these phrases.
- •III. Answer the following questions.
- •IV. Fill in the missing prepositional phrases in the following sentences. Choose from the box.
- •V. Uncertainty Expression Terminology.
- •VI. Match the following terms (1-14) with the correct definition (a-n) on the right.
- •VII Read this example of an extract from an independent auditors’ report in the usa and answer the questions.
- •VIII. Translate into English.
- •IX. Summaries the text in about 50 words.
- •Situations for discussion
IV. Fill in the missing prepositions. Translate the passages into Ukrainian.
-
in (2), to (1), by (1), through (1), on (1), at (1), up to (1), of (1).
Certain procedures must be established … every business entity to provide the data to be reported … financial statements. These procedures are frequently referred … as the accounting process. During the fiscal period it is necessary to engage … a continuing activity – the recording … transactions … the various journals and ledgers. … the end of the fiscal period, the recorded data are brought … … date … adjustments, are summarized, and financial statements are prepared.
-
of (3), in (3), on (2), within (1), against (1).
The manner … which the accounting records are organized and employed … a business is referred to as its accounting system. The exact form the accounting records take depends … the complexity and degree … mechanization … the system. The various recording routines … each system are developed to meet the special needs … the business entity. Recording processes must be designed to provide accurate information … a timely and efficient basis, while they must also serve as effective controls … preventing mistakes and guarding … dishonesty.
-
of (8), for (4), by (2), (up)on (2), through (1), with (1), in(2).
A relatively large organization ordinarily provides … the control … purchases and cash disbursements … adoption … some form … voucher system. … the use … a voucher system, cheques may be drawn only … a written authorization … the form … a voucher approved … some responsible official. A voucher is prepared, not only … support … each payment to be made … goods and services purchased … account, but also … all other transactions calling … payment … cheque, including cash purchases, retirement … debt, replenishment … petty cash funds, payrolls and dividends.
V. Complete the following words.
1. This company has supplied goods but has not received any money for them yet. |
CR E D I T O R
|
2. Companies make this when they sell their goods for more than it cost them to make them. |
P _ _ _ _T
|
3. Companies make this when they sell their goods for less than it cost them to make them. |
L _ _ S
|
4. Goods which are bought by the company. |
P _ _ _ _ _ _ES
|
5. Goods which the company has available to sell. |
S _ _ _K
|
6. An amount of money which is taken out of the account. |
W _ _ _D _ _ _ _L
|
7. Customers who have received goods but not paid for them yet. |
D _ _ _ _RS
|
8. A reduction in the price which is offered to customers. |
D _ _ C _ _ _T
|
9. This is the name of the difference between the credit and the debit sides of an account. |
B _ _ _ _ _E
|
10. This is drawn up to check that the two sides of the accounts are the same. |
T _ _ _ L B _ _ _ _ _ E
|
11. The official books for keeping accounts. |
L _ D _ _ _S
|
12. This is the name for buildings, machinery, money in the bank and money owed by customers. |
A _ _ _ _ S
|
13. The loss of value of the things in number 12. |
D _ P _ _ _ _ _ _ _ _ N
|
14. Money which is borrowed. |
L _ _ _
|
15. Extra money a company or person pays for borrowing money. |
I _ _ _ _ _ST
|
16. The total sum of money which is supplied by the owners of the company to set it up. |
C _ _ _T _ _
|
17. These are bought by people wishing to invest in the company. |
S_ _ _ _S
|
18. The extra amount which is paid for a company above the value of its assets. |
GOO _ _ _ _ _
|
19. An official examination of the accounts. |
A _ _ _T
|
20. A statement of the financial position of the company. |
B_ _ _ _ _E S_ _ _ T
|