- •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
Becoming an accountant
CPA
The body which represents the interests of accountants in the U.S. is the American Institute of Certified Public Accountants (AICPA). To become a CPA, the applicant must meet the requirements of the state where he/she wishes to practice, as established by the law of that state and administrated by the state boards of accountancy.
To qualify for certification, the applicant must:
study accountancy at a college or university
pass the CPA examination, which consists of four sections:
Business Law and Professional Responsibilities
Auditing
Accounting and Reporting – Taxation, Managerial, and Governmental and Not-for-Profit Organizations
Financial Accounting and Reporting – Business Enterprises
have professional work experience in public accounting.
Most states require a qualified CPA to carry out regular professional training.
Chartered Accountant
The major accounting body in the U.K. is the Institute of Chartered Accountants in England and Wales (ICAEW).
To become a Chartered Accountant, the applicant must:
1. have sufficient school or university education
2. apply for a training contract with a recognized company, which will give him/her three year’s work experience
3. pass the ICAEW’s exams on:
Accounting
Audit and Assurance
Business Finance
Business Management
Financial Reporting
Taxation
4. as well as prove his\her knowledge on Commercial and Company Law, and then with further exams on:
Business Environment
Business Life Cycle
Advanced Case Study
XI. Translate into English.
Бухгалтерський облік – це спосіб безперервного і повного відображення господарської діяльності підприємства, організації, установи, вираженого в грошових одиницях, з метою забезпечення керівництва необхідною інформацією.
До особливостей бухгалтерського обліку слід віднести:
безперервне, повне і послідовне відображення господарських засобів та операцій (що дозволяє отримати всебічну картину господарської діяльності підприємства, організації, установи);
обов’язкове документальне підтвердження наявності господарських засобів та здійснення господарських операцій (зазначене підтвердження здійснення господарської операції є єдиним джерелом облікової інформації);
узагальнення даних у грошовому виразі;
використання специфічних засобів та прийомів (оцінка, калькулювання, рахунки, подвійний запис тощо).
У свою чергу бухгалтерський облік поділяється на фінансовий та управлінський.
Фінансовий облік ведуть усі підприємства, організації, установи. Він має забезпечувати повне і комплексне відображення господарської діяльності за відповідний звітній період, стан фінансової звітності. Фінансовий облік і звітність регулюються в Україні Міжнародними стандартами, державними регламентами різних рівнів, а його дані використовуються внутрішніми і зовнішніми споживачами.
Управлінський облік ведеться підприємствами для забезпечення власних потреб в інформації усіх рівнів управління і є комерційною таємницею конкретного підприємства.
Найважливішими завданнями бухгалтерського обліку є наступні:
збирання, обробка і відображення первинних даних про господарську діяльність;
систематизація даних з метою узагальнення і одержання підсумкової інформації про господарську діяльність;
забезпечення необхідними даними з метою здійснення контролю за виконанням планів (прогнозів) діяльності, режимом економії.