- •Introduction
- •Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented.
- •9. Work in pairs. Imagine you are the owners of the accounting museum. Make a record of its holdings and compare it with your partners’. Try to describe it. The questions below will help you.
- •3. Choose the title for the text from the given below or suggest your own.
- •4. Answer the following questions.
- •5. Match the word to its definition.
- •6. Complete the sentences with one of the words given below.
- •7. Compose a cinquain that describes your future job or anything connected to it.
- •8. Be ready to tell about the following:
- •Grammar review
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented.
- •3. Choose the title for the text from the given below or suggest your own.
- •4. Find the answers to the following questions.
- •5. Match the word to its definition
- •6. Complete the sentences with one of the words given below.
- •7. Annotate the text using the phrases from page 165.
- •Grammar review
- •Words and expressions to remember
- •Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Accounting in ancient egypt, china, greece and rome
- •3. Find the answers to the questions.
- •4. Match the word to its definition.
- •5. Match the sentence beginnings to the sentence ends.
- •6. Complete the sentences using the appropriate word from those given in brackets.
- •8. It is known that Chinese was the first nation to introduce paper money (Ninth Century ad).
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented.
- •3. Choose the title for the text from the given below.
- •4. Find the answers to the following questions.
- •5. Match the word to its definition.
- •6. Complete the sentences with one of the words given below.
- •8. Match the symbol to the word in the box.
- •Grammar review
- •Words and expressions to remember
- •Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Luca pacioli – father of accounting
- •3 . Find the answers to the following questions.
- •4. Match the word to its definition.
- •Grammar review
- •1. Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Scotland – birthplace of the modern profession
- •3. Find the answers to the following questions.
- •4. Match the word to its definition.
- •5. Complete the sentences with one of the words given below.
- •Grammar review
- •Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Josiah wedgwood and the genesis of modern cost accounting
- •3. Find the answers to the following questions.
- •4. Match the word to its definition.
- •5. Which of the following sentences correspond to the text content?
- •6. Annotate the text using phrases from page165.
- •8. In small groups discuss these points:
- •9. Write a list of your goals for the next 10 years. Compare it with your partner’s? Answer the following questions:
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented.
- •3. Choose the title for the text from the given below.
- •4. Accounting in the usa
- •4. Match the word to its definition.
- •5. Which of the following sentences correspond to the text content?
- •6. Complete the sentences with one of the words given below.
- •7. Match the sentence beginnings to the sentence ends.
- •8. In small groups discuss the following points:
- •9. Be ready to tell about the world largest bankruptcies. Work in small groups and decide the roots of these bankruptcies.
- •10. Good dictionaries provide a lot of information about how the words are used. Say what the signs in the box mean.
- •Grammar review
- •Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Fields of accounting
- •3. Answer the following questions.
- •4. Match the word to its definition.
- •5. Complete the sentences with one of the words given below.
- •10. Quiz: Is Accounting Right for You?
- •Words and expressions to remember
- •Grammar review
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Nature of the work
- •3. Which of the following sentences correspond to the text content?
- •4. Find the answers to the following questions.
- •6. Match the word to its definition.
- •7. Complete the sentences with one of the words given in brackets.
- •8. Can you identify which of the following are business transactions and which are not. Then turn to page 153 and check your answers.
- •9. Just for fun. Read the joke. Can you continue?
- •10. Match the words to the questions and complete a crossword. Do not make blanks between the words in word combinations.
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Specific job duties
- •3. Make the plan of the text choosing from the following points.
- •4. Find the answers to the following questions.
- •5. Which of the following sentences correspond to the text content?
- •6. Complete the sentences with one of the words given below.
- •7. Give the definitions to the following jobs:
- •8. Write your future job description. Use the example below.
- •Grammar review
- •Words and expressions to remember
- •Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented.
- •3. Choose the title for the text from the given below or suggest your own.
- •4. Find the answers to the following questions.
- •5. Which of the following sentences correspond to the text content?
- •6. Complete the sentences with one of the words given in brackets.
- •7. Match the word to its definition.
- •8. Talk about working conditions at your company (or at a company you know well). Use must and mustn’t. Tell each other about the following:
- •9. Take turns to ask and answer questions about your obligations. Use questions below and invent your own questions.
- •11. Work in pairs. Practise doing a survey interview for the company. Ask and answer questions given below.
- •Grammar review
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented.
- •7. Complete the sentences with one of the words given in brackets.
- •8. Test yourself.
- •9. In 1996, Warren, Fess, & Revees called accounting the "language of business". Do you agree on this point? Give you reasons.
- •10. Work in small groups and discuss the following:
- •11. Be ready to tell about an invention that has changed the accounting (paper, ink, pen, computer, telephone, Internet, etc.). Answer these questions.
- •Grammar review
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented.
- •4. There are a number of essential business entries used on a balance sheet. Use the words listed below to decide which type of entry fits the definition.
- •6. Look at the two simplified accounting statements. Find the terms which mean the following:
- •7. Which of the items below are Royce’s` fixed assets? Explain your choice.
- •8. Complete the crossword matching the words given in the box to their definitions.
- •Grammar review
- •Match the sentences.
- •Words and expressions to remember
- •Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. The income statement
- •3. Find the answers to the following questions.
- •4. Match the words having similar meaning.
- •5. Look at the groups of words and say which one does not belong?
- •6. Madera Company has been in operation for 5 years. Following is selected data taken from the accounts of Madera Company. Use this data to determine the net income for its most recent year.
- •7. Presented below are selected columns from the accounting transaction worksheet of the McClung Company for September.
- •8. Match the words to the questions and complete a crossword. Do not make blanks between the words in word combinations.
- •Grammar review
- •Read and translate the quotations.
- •1. Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Automobile expenses
- •Mileage
- •Other important things to watch out for
- •3. Which of the following sentences correspond to the text content?
- •4. Answer the following questions.
- •5. Match the word to its definition.
- •6. Say which of the following can be referred to business use?
- •8. A company is going to forward some large components to a customer. Make inquires by phoning the partner’s company. Use the information given in the box.
- •10. Your company is reviewing its policy for business travel arrangements and expenses. Study the proposals below. What will happen if you implement them?
- •Henderson Electronics plc
- •Grammar review
- •Read and translate the quotations. Can you explain them?
- •Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. The workbook
- •Which of the following sentences correspond to the text content?
- •4. Find the answers to the following questions.
- •5. Match the word to its definition.
- •If not give your own advice how to control the email that floods your inbox.
- •If you have at least one “No”, you should continue to develop your employability skills.
- •Words and expressions to remember
- •Grammar review
- •Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. The general ledger
- •3. Look through the text and find the word that means the same as:
- •4. Answer the following questions.
- •5. Do you agree that gl is the heart of the accounting system? Think and say what other tools besides the gl are necessary for the accountant’s work. What are they for?
- •6. Make words from the jumbled letters and match them to the definitions on the left.
- •7 . Posting to a General Ledger Quiz. Match the items in the left and right columns. Then turn to page 153 and check your answers.
- •7. Match the words to the questions and complete a crossword. Do not make blanks between the words in word combinations.
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Adjusting entries
- •9. Complete the bill of exchange below with the following information:
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Accounting software
- •3. Find the answers to the following questions.
- •4. Look through the text and find the word that means the same as:
- •5. Complete the sentences using one of the verbs given below.
- •Write a composition which answers the following questions:
- •In small groups discuss the following:
- •8. This simple test will show how good you are at ms Office.
- •Grammar review
- •Read and translate the quotations. Give your comments.
- •Words and expressions to remember
- •1. Language check
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Cash flow statement
- •3. Find the answers to the following questions.
- •4. Match the word to its definition.
- •5. Complete the sentences with one of the words given below.
- •Count the total cash flow. Explain your actions.
- •7. When you are short of time you have to find the information quickly in business letters. Look through the letter below and answer the questions.
- •8. Write a letter in full-block, block and semi-block formats using the information below.
- •9. Vocabulary quiz. Match each statement with the proper term.
- •Grammar review
- •Grammar review
- •Words and expressions to remember
- •1. Suffixes. Match the definitions on the right to the words on the left.
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Sunk costs
- •3. Find the answers to the following questions.
- •4. Match the word to its definition.
- •5. Complete the sentences with one of the words given below.
- •6. Read the example below and decide on the most rational decision. Give your reasons.
- •7. Put the following sections of the formal business complaint letter to a phone company into order.
- •Grammar review
- •Words and expressions to remember
- •Match the adjective on the left to the noun on the right.
- •2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented.
- •Income tax
- •3. Find the answers to the following questions.
- •4. Match the word to its definition.
- •5. Complete the sentences with one of the words given below.
- •6. Read the small text explaining how to calculate taxes. Calculate the effective rate. Give your reasons.
- •7. Do a sum. Give your reasons.
- •8. Match the word and its possible definition.
- •If there is any other information you need, please do not wait to contact us at the above e-mail address.
- •10. Replace the word get or the expression with get with a more appropriate word from the list below. Change the form of the verb where necessary.
- •Grammar review Simple Past / Past Continuous
- •Insert the following past continuous fragments into the above story:
- •Using the words in parentheses, complete the sentences below with the appropriate tenses
- •Words and expressions to remember
- •1. Complete the sentences using the appropriate word. What parts of speech are they?
- •Read the verbs below. Check you know their translation. Consult the dictionary if necessary. Then devide the verbs into two groups: synonyms and antonyms for depreciate.
- •3. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Depreciation
- •4. Find the answers to the following questions.
- •5. Match the word to its definition.
- •7. Do a sum. Give your reasons.
- •8. Complete the sentences with lack or lack of. Be attentive to the form of the verb used.
- •Mapvertise 317, Canton Road Seatle
- •Tel/Fax 2235 2449 www.Mapvertise.Com.
- •28 July 2007
- •Mr. J. Wong Fortune Tours
- •171, Choi Hung Road Hong Kong
- •Dear Mr Wong
- •Enquiry about Local Tours
- •Please send me details of the local tours your company provides. I am especially interested in one-day tours.
- •Your tours were recommended by Mr. K.Davidson of Fortune Trading. Like him, I am planning a social outing for my staff members.
- •I look forward to hearing from you.
- •Yours sincerely
- •David Brown
- •David Brown
- •General Manager
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. The need for international accounting standards
- •3. Look through the text again. Find the acronyms. What words are they formed from?
- •4. Find the answers to the following questions.
- •5. Look through the text and find the word that means the same as:
- •6. Which of the following sentences correspond to the text content?
- •7. Annotate the text using the phrases from page 165.
- •8. Make a report for the international conference, devoted to the problem of accounting standards. Choose from the topics below. Be ready to ask questions to the other speakers.
- •10. Actions Speak Louder than Words: a Customs & Manners Quiz
- •11. Do you know what these international symbols mean? What are the international symbols for?
- •Words and expressions to remember
- •Grammar review
- •1. Language check
- •2. Choose the best word to form compound nouns.
- •3. Read the text. Check you know the words in bold type which may be helpful for understanding in the dictionary supplemented. Russian accounting standards
- •4. Find the answers to the following questions.
- •5. Which of the following sentences correspond to the text content?
- •6. Look through the text and find the word that means the same as:
- •7. Complete the sentences using one of the words given below.
- •8. Work in small groups and discuss these points:
- •Grammar review
- •Words and expressions to remember
- •Language check
- •Read the text. Check you know the words in bold type which may be helpful for understanding in the dictionary supplemented.
- •3. Look through the text and find the word that means the same as:
- •4. Which of the following sentences correspond to the text content?
- •What is forensic accounting?
- •What's required to become a forensic accountant?
- •Why is forensic accounting the hottest area of accounting and rated as one of the most secure careers for the future?
- •6. Complete the sentences using one of the words given below.
- •7. Comment the quotation “Accountants look at the numbers. Forensic accountants look behind the numbers”.
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •2. Read the text. Check you know the words in bold type which may be helpful for understanding in the dictionary supplemented. The future of accounting
- •3. Look through the text and find the word that means the same as:
- •4. Which of the following sentences correspond to the text content?
- •6. Complete the sentences using one of the words given below.
- •7. Work in small groups. Discuss the following points:
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •Opportunity knocks
- •3. Read the article. Check you know the words in bold type which may be helpful for understanding in the dictionary supplemented.
- •4. Look through the text and find the word that means the same as:
- •5. Which of the following sentences correspond to the text content?
- •7. Complete the sentences using one of the words given below.
- •8. Different reasons can make people to change their jobs. Read the following statements and put them in order of importance for you. Explain your choice.
- •9. You decided to change your job. You are offered to take positions in some companies. What factors will influence your choice. Choose from the list below or give your own ones.
- •10. Read the statement below. Do you agree with it? Give your arguments.
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •Core skills: what is an accounting major expected to be good at?
- •3. Look through the text and find the word that means the same as:
- •4. Answer the following questions.
- •5. Complete the sentences using one of the verbs given below.
- •6. Work in small groups and discuss what personal qualities an accountant should possess. Explain why? Choose from the given below and add your own.
- •7. Write a resume. Follow the scheme below:
- •Read the job application letter below. Write your own letter using this letter as a model.
- •7. How do you dress for the interview?
- •8. How do you respond to questions in the interview?
- •9. How do you choose your references?
- •10. When do you send thank you notes?
- •11. Fill the blanks with proper prepositions if necessary.
- •Grammar review
- •Words and expressions to remember
- •1. Language check
- •2. Read the Internet article. Check you know the words in bold type which may be helpful for understanding in the dictionary supplemented. A life that's less ordinary
- •3. Match the word to its definition.
- •4. Answer the following questions.
- •Fill in the gaps in the text choosing from the words on the right. Then turn to page 153 and check yourself.
- •Look at Figure describing the product sales in the three markets in the last 12 months, then complete the text with an appropriate information.
- •12. Just for fun. Read the joke.
- •Grammar review
- •Words and expressions to remember
- •Language check
- •2. Some words are not spelled the same in American variant. Look at the words in the box and spell them in English. Translate these words.
- •3. Read the Internet article. Check you know the words in bold type which may be helpful for understanding in the dictionary supplemented. Accounting's big gender switch
- •4. Look through the text and find the word that means the same as:
- •5. Find the answers to the following questions.
- •6. Complete the sentences with one of the words given below.
- •7. Which of the following sentences correspond to the text content?
- •8. Work in small groups and discuss the following points:
- •9. Read the General Tips on Appearance for those involved in business. What else can you add?
- •11. Be ready to develop the following theses. You can choose any topic you like.
- •12. Just for fun. Read the joke.
- •Grammar review
- •Words and expressions to remember
- •Answer keys
- •6 Unit (новый)
- •Vocabulary
- •Some tips on making an annotation
- •Elements of an annotation:
- •Some useful phrases for annotation
- •Word formation in english
- •References
- •Contents
Grammar review
Conditional 2
Try to find the correct ending for these conditional sentences.
|
a. I would practise my English more. b. if they went to bed earlier. c. if he had not upset us. d. you would become more fluent. e. if I were in charge. f. we would not go on strike. g. I would take her to dinner. h. he would have more time to play with his children. i. they would buy a new house. j. he would be very angry. k. you could see the doctor. |
Find the grammar errors in these quotations and correct them.
If I wasn't an actor, I will be a secret agent. - Elijah Wood, American Actor
We would accomplish many more things if we will not think of them as impossible. - Chretien Malesherbes 1721-1794, French Statesman
To buy books would be a good thing if we also can buy the time to
read them. - Arthur Schopenhauer 1788-1860
I would be a billionaire if I would want to be a selfish boss. That's not me. - John Gotti American, Mafia Boss
If I were two-faced, will I be wearing this one? - Abraham Lincoln, 1809-1865, 16th President of the USA
If I did had my career over again? Maybe I'd say to myself, speed it up a little. - James Stewart 1908-1997, American Actor
bill
of exchange certificate of origin days after sight
endorse draft
entire year entity footing going concern
line
item merchant bank overhead post-closing
to
place to the credit of an account visualize
Words and expressions to remember
5. 3
1. Language check
Complete the sentences using the appropriate word. What parts of speech are they?
-
adjustments - adjusting - adjust
1. We considered those material … applicable to prior years arising from the correction of fundamental errors.
2. The Bank of Russia gave credit organizations time to … to the new conditions.
3. … journal entries are usually prepared at the end of an accounting period.
2. Read the text. Check you know the words and phrases in bold type which may be helpful for understanding in the dictionary supplemented. Adjusting entries
How may times have we entered all the checks, put in all of the deposits, entered all of the receivables and payables, done the bank recs, said, “done at last!” only to realize that we still had to make those final adjustments to make the financial statements just right? It happens to you all the time!
It helps, though, if you plan them in advance. What do you need to consider?
When it comes down to those final adjustments, you have to use the General Journal unless it involves something like a check that was coded to the wrong place. If the software allows it, you then bring up the original transaction and code it to the right account. Adjusting entries take care of those problems that can’t be handled with just recoding transactions.
Here are some typical adjusting journal entries (or AJE’s for short).
Depreciation. The amounts come from a schedule. In the General Journal, you enter a debit to Depreciation Expense and a credit to Accumulated Depreciation.
Amortized Intangible Assets are treated as depreciation as AJE’s.
Inventory. The amount of the adjustment is the difference between the ending inventory amount and the booked amount. Debit or credit Inventory as needed and balance your entry by debiting or crediting the Cost of Goods Sold.
Payroll Tax Liabilities. These affect the appropriate liability accounts and payroll tax expense accounts.
Loan Balances. At least once a year you like to compare the balances on your books to what the bank says are the balances. You adjust the differences to Interest Expense.
Accurals. These can be a whole lot of different things. Asset and liabilities are adjusted to Revenues and Expenses.
A Working Trial Balance (WTB) is a useful tool to help spot and make AJE’s. You use it in conjunction with the GL Report. On the WTB you write the amount that an item should be next to the amount on the report. Next to that you write the difference. Then you spot where the offset entry should be made. You write the difference next to that amount on the WTB. You identify the two (or more) amounts with a number. This is the ID number you use when you make the entry into the General Journal.
AJE’s serve these functions:
They adjust balances. This means that they change the amounts that go to the financial statements.
Reclassifications. These AJE’s move balances from one account to another.
Proposed AJE’s. This one is for those important adjustments that need approval before they are actually entered into the accounting system. If the software doesn’t allow for Proposed AJE’s then you may use an outside program like Excel to show them. Once the manager responsible for signing off on them does so, then they are entered into the accounting package. (Neither Peachtree or Quickbooks allows for Proposed AJE’s).
Accountants put some AJE’s to special uses.
Recurring entries. These entries are the same each month. They always have the same amounts and go to the same accounts. Software can be coded to do these automatically.
Reversing Entries. AJE’s may not be permanent. You may wish to reverse them at the beginning of the next period. These are called “reversing entries”. Okay, so you’ve figured out all of your AJE’s and entered them into the system. The financials have been printed and the month closed. Done? Forget anything?
You did if you didn’t save the papers that explain how you came up with your figures. You should always keep a Journal Detail File either in the Workbook or in a special file folder in a file cabinet. Nothing’s worse than trying to explain later how you came up with your entries and you have no idea! The more AJE’s you can do the more you are doing accounting instead of just bookkeeping.
3. Are the following statements true or false?
1. Adjusting entries take care of those problems that can’t be handled with simple recoding transactions.
2. Adjusting journal entries are called WTB for short.
3. AJE’s change the amounts that go to the financial statements.
4. Reclassifications move balances from one account to another.
5. Recurring entries change each month.
4. Answer the following questions.
What are typical adjusting journal entries?
How often should an accountant compare the balances on the books to what the bank says are the balances?
What adjustments need approval most of all?
Why should an accountant always keep a Journal Detail File in the Workbook?
5. Look through the text and find the word that means the same as:
1. to give your formal approval to sth, by writing your name on a document, letter, etc. to show that you agree with what it says;
2. before the time that is expected, before sth happens;
3. lasting for a long time or existing all the time;
4. suitable, acceptable or correct for the particular circumstances.
6. Arrange the steps in their proper order as they should occur in the accounting cycle. Then turn to page 153 and check yourself.
|
Step 1 |
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a. prepare financial statements |
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|---|---|---|---|---|---|
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Step 2 |
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b. prepare a post-closing trial balance |
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Step 3 |
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c. post from the journal to the ledger |
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Step 4 |
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d. prepare a source document from a transaction |
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Step 5 |
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e. journalize and post closing entries |
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Step 6 |
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f. analyze and journalize transactions |
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Step 7 |
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g. journalize and post adjusting entries |
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Step 8 |
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h. complete a worksheet |
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Step 9 |
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i. prepare a trial balance |
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7. Complete the text using phrasal verbs about money: pay back, run up, bail out, catch up, shell out ,dip into, put aside, splash out, lay out, save up, scrap by, tide over, get by. Pay attention to the form.
Well, last week I finally ... that money that I had been ... for the past year and a half. I decided that I should really enjoy myself so I ... and had a great meal at Andy's. Next, I went to Macys on Saturday and ... $400 for that suit I'd told you about. Of course, I used a great deal of what I to ... that bill I had ... on my Visa card. It feels great to finally have some money after all those years of .... Thanks again for ... me ...during that long winter of '95. I don't think I would have .. without your ... … Unfortunately, I also had to ... about $250 in insurance costs. Oh well, I guess ... the cash for those things is just as necessary as anything else. ….
8. The Chief accountant has noticed some mistakes in the General Journal. He has asked you to write a memo reminding staff how important it is to make the financial statements right. Use these points to write the memo.
check you have entered all the checks;
check you put in all of the deposits;
check you entered all of the receivables and payables;
check you have done the bank reconciliations.