- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Find the pairs of synonyms and antonyms.
- •15. Find the definitions to the next terms:
- •16. Divide the text into logical group and give them titles.
- •17. Single out the main points of the text. Use the following opening phrases.
- •18. Prepare a short talk on the following:
- •Grammar Exercises
- •1. Name the number of the sentences where the word most has the meaning a) «більшість, більша частина», в) « вельми, вкрай» ( весьма, крайне).
- •2. Change the word order in the sentences using the Subjective Infinitive Complex.
- •Unit 13
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •International monetary system
- •International monetary institutions
- •Exercises
- •1. Answer the questions:
- •2. Find English equivalents for the following Ukrainian phrases.
- •3. Find the pairs of synonyms and antonyms.
- •11. Write down the Ukrainian equivalents.
- •12. Find and read sentences explaining the title of the text.
- •13. Find in the text sentences expressing such ideas.
- •15. Divide the text into logical group and give them titles.
- •16. Single out the main points of the text. Use the following opening phrases.
- •Grammar Exercises
- •1. A) Supply the articles where necessary.
- •2. Prepare the short talk on the following:
- •Unit 14
- •1. Read sentences only with new lexis.
- •2. Put the missing letters.
- •3. Work in pairs.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the verbs that are commonly used with:
- •9. Find and read sentences explaining the title of the text.
- •10. Find in the text sentences expressing such ideas.
- •12. Find the definitions to the next terms: short-term securities, long-term securities, bond, domestic bond market, foreign bond market, money market, capital market.
- •13. Divide the text into logical group and give them titles.
- •14. Single out the main points of the text. Use the following opening phrases.
- •Unit 15
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer these questions:
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of word combination with:
- •8. Complete the sentences with the following words: stock exchange, over-the-country market,”over-the-counter”, securities market, equities, preferred stocks.
- •9. Write down the Ukrainian equivalents:
- •10. Find in the text sentences expressing such ideas.
- •12. Find and read sentences explaining the title of the text.
- •13. Divide the text into logical group and give them titles.
- •14. Single out the main points of the text. Use the following opening phrases.
- •15. Read the text and be ready to explain how to invest money in right place.
- •15. Name the number of the sentences where we have to use Russian words «по-видимому» and «оказалось».
- •16. Prepare a short talk using the Russian words «по-видимому» and «оказалось» on the following:
- •Unit 16
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Investments
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the verbs that are commonly used with:
- •10. Complete the sentences with the following words: investment, real investment, foreign direct investment, foreign indirect investment, individual investors, institutional investors.
- •11. Write down the Ukrainian equivalents:
- •12. Find and read sentences explaining the title of the text.
- •13. Find in the text sentences expressing such ideas.
- •16. Divide the text into logical group and give them titles.
- •Grammar Exercises
- •Investment Companies
- •Unit 17
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •3. Work in pairs. One student has to name all the words sh/he memorised from the word list another student has to translate them.
- •Exercises
- •1. Answer these questions:
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the verbs that are commonly used with:
- •9. Complete the sentences with the following words: currency, monies, rate of exchange (2), interbank market, the spot market (2), the forward or future markets, options, swap.
- •10. Write down the Ukrainian equivalents:
- •11. Find and read sentences explaining the title of the text.
- •12. Find in the text sentences expressing such ideas.
- •14. Find the definitions to the next terms: currency, spot market, foreign exchange rate, future or forward market, swap, option.
- •Unit 18 (Part I)
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the verbs that are commonly used with:
- •11. Find and read sentences explaining the title of the text.
- •12. Find in the text sentences expressing such ideas.
- •15. Divide the text into logical group and give them titles.
- •16. Single out the main points of the text. Use the following opening phrases.
- •Grammar Exercises
- •17. Prepare a short talk on the following:
- •Unit 18 ( Part II)
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Match the antonyms.
- •4. Underline the negative prefixes in the following words:
- •5. Make up sentences putting the words in the correct order.
- •7. Find and read sentences explaining the title of the text.
- •8. Find in the texts sentences expressing such ideas.
- •10. Divide the text into logical group and give them titles.
- •11. Single out the main points of the text. Use the following opening phrases.
- •12. Read two texts about manager’s work and be ready to discuss it.
- •13. Prepare a short talk on the following.
- •Unit 19
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the English synonyms to these Ukrainian verbs: относить (на), отражать (в учете), учитывать.
- •9. Find and read sentences explaining the title of the text.
- •10. Find in the text sentences expressing such ideas.
- •12. Find the definitions to the next terms: accounting system, book-keeping, accounting, liabilities, balance sheet.
- •13. Divide the text into logical group and give them titles.
- •14. Single out the main points of the text. Use the following opening phrases.
- •15. A) Read the text and say which information is new for you.
- •Grammar Exercises
- •1. Open the brackets using the verbs in appropriate form.
- •2. Open the brackets using the verbs in appropriate form.
- •16. Prepare a short talk on the following:
- •Unit 20
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Find in the text nouns that are most often used with the following verbs and adjectives:
- •4. Think of the word combinations with these words and words from the text.
- •5. Make up sentences from two parts
- •7. Find and read sentences explaining the title of the text.
- •10. Divide the text into logical group and give them titles.
- •11. Single out the main points of the text. Use the following opening phrases.
- •2. Open the brackets putting the verbs in the correct form:
- •3. Using texts 1 and 2 answer the questions:
- •4. Prepare for a short talk:
- •Unit 21
- •1. Read sentences only with new lexis and translate them.
- •2. Put the missing letters.
- •Exercises
- •1. Answer the questions.
- •2. Find in the text English equivalents for the following Ukrainian phrases:
- •3. Think of the nouns that are most often used with the following verbs:
- •4. Think of the verbs that are most often used with:
- •5. Match the verbs from (a) with the nouns from (b) below:
- •6. Make up sentences from two parts.
- •7. Complete the sentences with the following words: auditing, types of audits, accounts audits, management, auditors, auditor’s report, “audit risk”, the audit strategy.
- •8. Find and read sentences explaining the title of the text.
- •9. Find in the text sentences expressing such ideas.
- •11. Find the definitions to the next terms: audit, auditor, “audit risk”, auditor’s report.
- •12. Divide the text into logical group and give them titles.
- •13. Single out the main points of the text. Use the following opening phrases.
- •14. Read the text.
- •15. Supply the prepositions where necessary.
- •16. Prepare a short talk on the following:
- •Література
15. A) Read the text and say which information is new for you.
b) Explain the difference between managerial and financial accounting.
c) Write down 3-5 questions about the text.
Accounting information
In general, accounting information can be classified into two main categories: financial accounting (or public information) and managerial accounting (or private information).
Managerial accounting deals with cost and profit relationship, efficiency and productivity, planning and control, pricing decisions, capital budgeting. Not being generally spread outside the company, this information provides a wide variety of specialized reports for division managers, department heads.
Financial accounting differs from managerial accounting because the information and analyses are for people outside of the organization. This information goes to owners, creditors and lenders, governmental units and the general public.
A standard set of financial statement is expected to be prepared regularly by financial accounting and published in an annual report at the end of the fiscal year. These statements include the following items: 1) balance sheet, 2) the statement of cash flow, 3) the income statement, 4) the statement of retained earnings.
The statement of cash flow shows the changes in the company’s financial position and provides information which is not available in either an income statement or a balance sheet. Thus, the statement of cash flow represent the sources and the uses of the company’s funds for operating activities, applications of working capital and data about additional financial support.
The statement of retained earnings shows investors what has happened to their ownership in the company, how earnings and new stocks have increased its value, and what dividends were paid.
Words you need:
managerial accounting управлінська звітність
statement of cash flows звітність про рух грошових потоків
statement of retained earnings звітність про прибутки, які нерозподілені
operating activities управлінська діяльність
Grammar Exercises
1. Open the brackets using the verbs in appropriate form.
Accounting as it (to exist) today (may) (to view) as a system of assumptions, concepts, doctrines which (to summarize) in generally (to accept) accounting principles. Many of these principles (to develop) gradually, but only in recent decades these principles (to recognize) as laws. Economic theory (to deal) with several following fundamental accounting concepts.
The on-going concept (концепція підприємства, яке працює) (to state) that the entity (юридична особа) that (to be) (to perform) activity and (to be) (to receive) accounting information (must) (to define) clearly and that the relationship (to exist) between the entity and external parties (must) (to understand) clearly.
According to the historical-cost principle (метод підрахунку з використанням цін придбань) economic resources (should) (to evaluate) in terms of the amounts of money (to exchange). When a transaction (to occur), the exchange price (to be) a measure of the value of the economic resources that (to exchange).
The realization concept (концепція реалізації) (to disclose) that accounting (to take place) only for those economic events to which the entity (to be) a party.
In accordance with the matching principle (концепція зіставлення) income (to calculate) by matching revenues with the expenses incurred (нести збитки, ) in order to obtain that revenue.
The accrual concept (концепція нарощування) (to define) revenues and expenses as inflow and outflow of all assets in the course of operating the enterprise.
The consistency concept (концепция незмінністі) assumes the accounting methods (to use) at a given time (must) (to be) in line with those previously (to use) for describing company performance. Such consistency (to allow) data of different periods (to compare).
The disclosure principle (принцип розкриття сутності) (to emphasize) that financial statements (should) (to present) clearly the most useful in formation.
The prudence concept (концепція обережності) (to require) all entries (to concern) income and revenue (should not) (to record) until money (to receive), but records (to relate) to possible future losses and risk (ought) (to do) as soon as they (to predict).
b) Find in the text three synonyms for the translation of the adverb «згідно, відповідно.»
c) Using the text finish the next sentences in Conditional Mood.
If the accountant expected any losses in future, he ...
If we consider accounting existing today, we ...
If we had prepared financial statements, all useful information ...
If the income were calculated, the matching principle ...
If there were any relations between the entity and the external parties, they...
If a transaction had occurred, the exchange price ...
If we plan to estimate the company's performance for some years, the same accounting methods ...
Only if the entity were engaged in this transaction, the data about this economic event...