Тема 1. ACCOUNTING AND BOOKKEEPING

Навчальне видання

ПРАКТИКУМ З АНГЛІЙСЬКОЇ МОВИ

(за професійним спрямуванням)

для студентів ІІІ курсу денної форми навчання спеціальностей 5.03050901 «Бухгалтерський облік» та 5.03050801 «Фінанси і кредит»

ОКР "Молодший спеціаліст"

Укладач: Л.І. Русан

Редактор: А.Г. Заболотна

Видавничий центр ВП НУБіП України «ІЕК»

08200, м. Ірпінь, віл. Гагаріна, 9.

Зміст

Вступ
1. Тема: Accounting and Bookkeeping
2. Тема: Auditing
3. Тема: What is Economics
4. Тема: Management and Manager
5. Тема: Advertising
6. Тема: Banks
7. Тема: Еxchanges
8. Тема: Business
9. Тема: Statistics
10. Тема: Marketing.
11. Тема: Functions of Every Economic System
12. Тема: The Structure of a Company
13. Тема: Business Communication
14. Тема: Business Organizations
15. Тема: Supply and Market Price
16. Тема: Demand
17. Тема: Taxation
Список використаної літератури

Вступ

Сучасному фахівцеві будь-якого рівня для професійної мобільності та конкурентоспроможності на ринку праці недостатньо володіти тільки спеціальними професійними знаннями та навичками. Він повинен орієнтуватися в інформаційному просторі, володіти розвиненою культурою мислення для вирішення професійних завдань діагностичного характеру і системно-аналітичним мисленням, науково-гуманістичним світоглядом, правовою та інформаційною культурою,обов’язково однією з іноземних мов досконало.

Вивчення дисципліни «Іноземна мова (за професійним спрямуванням)» має важливе значення у підготовці спеціалістів.

Пропонований «Практикум з англійської мови (за професійним спрямуванням)» призначений для студентів третього курсу спеціальностей «Бухгалтерський облік», «Фінанси та кредит» освітньо-кваліфікаційного рівня «Молодший спеціаліст».

Його метою є поглиблення знань студентів, збагачення їх словникового запасу новими лексичними одиницями – термінологічною, науковою, стандартною канцелярською лексикою та вдосконалення вміння комунікативно виправдано користуватися засобами англійської мови.31

Навчальний матеріал укладено за тематичним принци33пом, з урахуванням змісту типової програми з дисципліни «Іноземна м35ова (за професійним спрямуванням)» та сучасних вимог до організації само37стійної роботи студентів. Використання практикуму у навчальному процесі передбачає опрацювання, засвоєння та закріплення студентами вивченого.

Виконання студентами поданих завдань сприятиме успішному засвоєнню програмного матеріалу, поглибленню знань з іноземної мови.

Тема 1. ACCOUNTING AND BOOKKEEPING

І

The aim of accounting is to show a financial condition of a company. It is an accounting department of a firm that records and measures all relevant financial data of its business activity.

There are the two types of records which are the most important ones. It is the income statement, on the one hand, and the balance sheet, on the other hand.

Who are the users of accounting records? There is a wide range of different users of these records or, as specialists often say financial reporting or financial statements. They are stockholders, present and potential investors and creditors, management, independent analysts, banks, debtors, competitors, tax bodies, government. Let us consider the most important terms and definitions in accounting.

To begin with, accounting can be defined as recording and measuring of all financial data concerning a given business or organisation activity.

Financial Statements are the central feature of accounting because they are the primary means of communicating important accounting information lo users. They, so to say, show business in financial terms. The most important financial documents are:

1. Profit and Loss Accounts;

2. Balance Sheets;

3. Cash-flow Forecast;

Profit and loss accounts give a "history" of a company's finances during the previous year for some period. They have three sections:

1.Trading section. It shows the revenue from sales and the costs in producing those sales.

2. Profit and loss section. It shows the costs of general overheads such as administration and distribution.

3. Appropriation section. It shows how the received profit is distributed to shareholders and how much profit remains as reserves.

Balance sheets show the financial position of a company on a certain date. Figuratively speaking, a balance sheet provides the so– called "a snapshot" of a company's wealth at a very given moment of time. It has three sections:

1. Assets (fixed and current);

2. Creditors (current and long-term liabilities);

3. Capital and Reserves (company's issued share capital);

If money is often referred to as "the blood of business" and accounting is referred as "the language of business", then double-entry system may be referred as "the eyes of accounting".

The double-entry system of accounting requires that for each transaction there must be one or more accounts debited and one or more accounts credited. After all, the rule requires that total debits must equal total credits.

Look at the accounting equation: Assets = Liabilities + Owner's Equity.

II

Bookkeepers deal with taxes and cash flow which reflect business transactions of a company, such as sales and purchases, receipts and disbursements.

Bookkeepers first record figures in the books or Journals. Of course the books of today are computer files. At the end of each period bookkeepers post the totals of each book into the Ledger.

The difference between accountants and bookkeepers.

So, what is the difference?

As we see bookkeepers are not librarians, who also keep books. They are not bookmakers, who "make books". They are specialists who record business transactions and periodically do a trial to see if both sides of an account book match.

Accountants, however, analyse financial records and decide how to present them. It is a special art to prepare the relevant meaningful financial report from the given data. In short, accountants make financial information understandable for users.

The accountant also determines ways in which the business will grow in the future. They help to expand or reorganize the business.

Many accountants pass examinations to get special certificates. In England they are called chartered accountants, while in the USA-certified public accountants.

VOCABULARY

I

accounting – бухгалтерський облік

an accountant – бухгалтер

an account – рахунок

a financial position – фінансовий стан

to record – записувати, реєструвати; запис

a measure – міра, вимірювати

relevant financial data – відповідна фінансова інформація

a user – користувач

a financial statement – фінансовий звіт

a stockholder – акціонер

a tax – податок

tax bodies – податкові органи

primary– основний

soto say – так би мовити

a profit and loss account – рахунок доходів та витрат

balance sheet – баланс

cash– готівка

previous– попередній

revenue– дохід

sales– збут, продаж

costs– вартість, затрати

overheads– накладні витрати

appropriation– розподіл

remains– залишки

assets– активи

fixed assets – основні засоби

current assets– обіговий капітал

liabilities – зобов'язання

current liabilities –поточні зобов'язання

long– term liabilities – довгострокові зобов'язання

a share – акція

a double– entry system – система подвійного запису

ІІ

bookkeeping– бухгалтерський облік

a bookkeeper – рахівник

a purchase – придбання, купівля, покупка

receipts – одержання, прибуток

disbursements – витрати, оплата

a journal – журнал

a ledger – головна книга

value – вартість

payment – плата, оплата

a trial – перевірка

to match – збігатись

understandable – зрозумілий

Standards of Accounting – Положення (стандарти) бухгалтерського обліку

(П(С)БО)

Тема 2. AUDITING

І

Auditing is closely connected with Accounting. The traditional definition of auditing is a review and an evaluation of financial records by a second set of accountants.

There is another more modem definition. "An audit is the independent examination of an expression of opinion on the financial statements of an enterprise by an appointed auditor in compliance with statutory obligation." (David Choppy).

The main purpose of the audit is to give the user of the financial statements confidence that they give a true presentation of the position of the company at a certain date. There are the two types of audit.

An internal audit. It is a control by a company's own accountants. They check for complete, exact and reliable data. Internal auditors also look for departures from the methods for recording business transactions which are established by a company.

An independent audit is a review of financial statements and records by an accountant not belonging to the company. Such auditors have to judge if the accounts present a true and fair view of the company's financial position. In the USA they use the term "a fair presentation" which means the same what British term "a true and fair view" means.

Who appoints auditors? Senior executives and advisors of the company do it. Then the candidates are to be approved by the owners of the share capital at the company's assembly (meeting).

Auditors write an audit report. They also may write a "management letter" to directors. They may underline some weak points and recommend to improve operating procedures.

ІІ

The creation of the audit function is linked to the growth of the Joint– Stock company. Shareholders are often not involved in the day– to– day running of a company. They entrust this role to the directors. The directors, in their turn, need to account to the members of the company during each financial period.

The role of the financial statements is to show the way the company was run during this period. Therefore, the report of the auditor is addressed to the members of the company.

The auditor tries to ensure that the accounts give a true picture of the position. To achieve this the auditor needs to go beyond the accounting function within the company.

The auditor often looks at the way in which the other parts of the business work. It is common for the auditor to discuss the activities with the members of staff working in different departments of the company, not only in the accounting or finance departments. The understanding of the business as a whole is very important for auditing.

It is also important to keep in mind such two points.

First, the auditor gives his opinion in the report. The latter gives some level of assurance. But this assurance is never considered to be absolute.

Second, the auditor has no duty relating to the prevention of fraud or other errors.

On the other hand, if the auditor does find any fraud he must make further investigations.

Questions to part I:

1. What subject is audit closely connected with?

2. Can you give a definition of audit (auditing)?

3. What is the main purpose of auditing?

4. How many types of audit do you know?

5. What is the difference between internal and external auditors?

6. Can you explain the difference between the terms "a fair presentation" and "a true and fair view"?

7. Who appoints auditors?

8. Who approves the candidates?

9. Who writes "a management letter" to directors?

10. Do you see any difference between an audit report and a management letter?

If you do, explain it.

VOCABULARY

audit– аудит

auditing– аудит

an auditor– аудитор

an evaluation– оцінка

confidence– довір'я

a presentation– представлення

internal –внутрішній

complete– повний, закінчений

exact– точний

reliable– надійний

departure– відхід, відхилення, відступ

judge– судити; суддя

fair– справедливий

to appoint– призначити

to approve– затверджувати

to link (with)– з'єднувати

joint– stock– акціонерний капітал

running– управління

to run – управляти

to entrust– довіряти

staff–персонал

assurance– гарантія

prevention– запобігання

a fraud – шахрайство

an investigation – розслідування, дослідження

an error– помилка, огріх

to err– помилятися

to relate– ставитись

related– споріднений

relation– відносини

as a whole (on the whole)– в цілому

business law– господарське право

a breach– порушення

to endorse– індосувати

a forge– підробка

a note– вексель

a requirement –вимога

Тема 3. WHAT IS ECONOMICS?

VOCABULARY

№ 1. Read tire following words aid word combinations and learn their meanings by heart:

economy– економіка (господарство)

ancient times– стародавні часи

economics– економіка (наука)

an to hunt– полювати

trade– торгівля

to trade– торгувати

wealth– багатство

to describe– описувати

commerce– торгівля, комерція

commercial– торговий, комерційний

since that time– з того часу

a branch –галузь

rapidly –швидко

employment– зайнятість

however –однак

definition –визначення

relationship– стосунки

resources– ресурси.

№ 2. Read, translate and retell the following text.

"Economy is the art of making the most out of life."

George Bernard Shaw

Economy is as old as hills. It is probably the first art which man acquired. When in ancient times some people went out to hunt while others stayed to defend thefire and still others traded (exchange) some things for other ones, in all these cases we had economy.

But Economics as an academic discipline is new. The first important book on Economics was published in 1776. It was "The Wealth of Nations" written by Adam Smith (1723– 1790). The author of this book was a Scottish economist. When he published the book Adam Smith was 53 years old. In the book he described the new world of industry and commerce. The fact is that his book founded classical economics modern for that time.

Since that time the subject developed rapidly. Now there are many branches of the subject. They are microeconomics, international economics, econometrics and so on.

There is an economic aspect to almost any topic we mention – education, health care, religion, employment, housing, transport, defence, etc.

Economics is a theory of how society works. It seems to be clear. However, it is difficult to define economics. There are many definitions.

The great classical economist Alfred Marshall defined: "Economics is the study of man in the everyday business of life". J. Beardshaw, a British economist, gave more modern definition. It is: "The human science which studies the relationship between resources and the various users which compete for these resources."