Unit 2 making a career in accounting

TEXT 1. THE ACCOUNTING PROFESSION

TEXT 2. MAKING A CAREER IN ACCOUNTING

TEXT 3. THE WORK OF THE ACCOUNTANT

TEXT 4. PROFESSIONAL ETHICS OF ACCOUNTANTS

TEXT 5. WHAT SHOULD A MODERN ACCOUNTANT BE LIKE

TEXT 6. WHAT KINDS OF PEOPLE MAKE GOOD ACCOUNTANTS

TEXT 7. ACCOUNTING CONVENTIONS AND PRINCIPLES

Text 1 accounting profession

Exercise 1.1

Study the vocabulary:

1	independent report	1	незалежний звіт
2	ultimate goal	2	кінцева ціль
3	the appropriateness	3	відповідність
4	financial reports	4	фінансові звіти
5	the examination	5	ретельне вивчення, розгляд
6	to require	6	вимагати
7	obviously	7	очевидячки
8	specialty areas	8	напрямки спеціальності
9	to involve	9	включати в себе
10	charitable	10	добродійний
11	to evaluating	11	оцінювати
12	to relate	12	стосуються
13	to engage	13	залучати
14	tax returns	14	податкові декларації
15	to decide	15	вирішувати

Exercise 1.2

Read and translate the text:

To decide to be an accountant is no more descriptive than deciding to be a doctor. Obviously, there are many specialty areas. Many accountants engage in the practice of «public» accounting, which involves providing audit, tax, and consulting services to the general public. To engage in the practice of public accounting usually requires one to be licensed as a CPA (Certified Public Accountant). Auditing involves the examination of transactions and systems that underlie an organization's financial reports, with the ultimate goal of providing an independent report on the appropriateness of financial statements.

Tax services relate to the providing of help in the preparation and filing of tax returns and the rendering of advice on the tax consequences of alternative actions. Consulting services can vary dramatically, and include such diverse activities as information systems engineering to evaluating production methods. Many accountants are privately employed directly by small and large businesses (i.e., «industry accounting») and not-for-profit agencies (such as hospitals, universities, and charitable groups). They may work in areas of product costing and pricing, budgeting, and the examination of investment alternatives. They may focus on internal auditing, which involves looking at controls and procedures in use by their employers. Objectives of these reviews are to safeguard company resources and assess the reliability and accuracy of accounting information and accounting systems.

They may serve as in-house tax accountants, financial managers, or countless other occupations. And, it probably goes without saying that many accountants work in the governmental sector, whether it be local, state, or national levels.

Exercise 1.3

Fill in the gaps. Then read and translate:

audit auditing engage general practice an accountant specialty involves ultimate transactions

To decide to be …1… is no more descriptive than deciding to be a doctor. Obviously, there are many …2… areas. Many accountants …3… in the …4… of «public» accounting, which …5… providing …6…, tax, and consulting services to the …7… public. To engage in the practice of public accounting usually requires one to be licensed as a CPA (Certified Public Accountant). …8… involves the examination of …9… and systems that underlie an organization's financial reports, with the …10… goal of providing an independent report on the appropriateness of financial statements.

Exercise 1.4

Make up the sentences from the words:

1) an accountant, a doctor, no more, To, to, decide, be, is, descriptive than, deciding, to, be.

2) as a CPA, To, engage, requires, in the, accounting, practice, of public, usually, one, to be licensed.

3) Many, large, directly, by small, are, accountants not-for-profit, privately, employed, and, businesses, and, agencies.

4) Obviously, areas, there, many, are, specialty.

5) may, accountants, They serve, as, in-house, tax, financial, managers, or countless, other, occupations.

Exercise 1.5

Read the text again and put the sentences into a chronological order:

1. Many accountants are privately employed directly by small and large businesses (i.e., «industry accounting») and not-for-profit agencies (such as hospitals, universities, and charitable groups).

2. They may focus on internal auditing, which involves looking at controls and procedures in use by their employers.

3. Objectives of these reviews are to safeguard company resources and assess the reliability and accuracy of accounting information and accounting systems.

4. They may work in areas of product costing and pricing, budgeting, and the examination of investment alternatives.5

5. Consulting services can vary dramatically, and include such diverse activities as information systems engineering to evaluating production methods.

6. Tax services relate to the providing of help in the preparation and filing of tax returns and the rendering of advice on the tax consequences of alternative actions.

Exercise 1.6

Mach the words with the definition:

1	to focus on	a	to lie or be placed under or beneath
2	to safeguard	b	to give work to (someone) and pay them for it
3	to underlie	c	to become different or changed
4	to employ	d	to protect from harm or damage with an appropriate measure
5	to vary	e	to pay particular attention to…