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электронная версия метод по финансам ур 12-21.doc
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Exercises

1. Answer the questions.

  1. What kind of information is of great importance for proper company management?

  2. What role does bookkeeping play in the accounting cycle?

  3. What kind of data is collected by a bookkeeper?

  4. What is the difference between bookkeeping and accounting?

  5. Who is interested in obtaining accurate accounting information?

  6. What is the modern concept of the accounting system?

  7. What tasks should a bookkeeper solve at the first three steps of the accounting cycle?

  8. What does double-entry bookkeeping mean?

  9. What data are recorded in the company's general ledger?

  1. When is the bookkeeping cycle considered to be completed?

  2. What are the advantages of the double-entry system?

2. Find in the text English equivalents for the following Ukrainian phrases:

Для того, щоб керування компанією було ефективним; така інформація, яка отримана; бухгалтерський облік розглядається, як; забезпечити ведення обліку; повсякденна фінансова інформація; принципи фінансового обліку визначають; первинна функція обліку; забезпечують менеджерів; розглядається як система із семи кроків; ведення обліку засновується на системі бухгалтерського обліку з подвійним записом; для того щоб зробити повний бухгалтерський запис; записується двічі; визначені рахунки зростають з дебітом; загальна бухгалтерська книга; запис даних у головну бухгалтерську книгу; складення попереднього балансу.

3. Find in the text nouns that are most often used with the following verbs and adjectives:

To record, to prepare, to pay, to receive, profitable, to disagree, to decide, to determine, to equal, to inform, to invest, to manage, to balance, to interpret, valuable, to analyze, to post, accurate.

4. Think of the word combinations with these words and words from the text.

Periodic, valuable, current, various, accurate, trial, preliminary, separate, systematic, typical, basic, proper, financial, double, extensive, additional, general, useful.

5. Make up sentences from two parts

  1. The preparation of a trial balance includes

  2. A special book known as a journal is used

  3. Double-entry bookkeeping is a system of recording accounts where

  4. The posting procedure consists of

  1. In bookkeeping a sum of money paid or owed by a business

  2. One should know that crediting means

7. Unlike crediting the debiting procedure means

  1. Bookkeeping as part of the accounting cycle deals with

  2. A bookkeeper is sure to be fully responsible for

10. The sum of money gained by a business

a) recording in an account a sum of money paid out or still owed.

b) regular transferring entries from the journal to the appropriate accounts in the ledger

c) for recording all primary information about business transaction

d) the accurate performance of the first three steps in the accounting cycle

e) is recorded on the right-hand side of a list of accounts.

f) recording all money received by and paid out of a company in special books or computer files.

g) the checking of accounts by comparing the total credits with the total debits.

h) is shown on the left-hand side of a list of accounts.

i) each sale or purchase is shown as having an effect on both the debit and the credit columns of an account.

j) recording the payment of a sum of money into an account.

6. Complete the sentences with the following words: list; records, statements; posting data; double-entry, journals, ledgers; bookkeeping, trial balance; double-entry, balance, receipts, debits; preliminary; accuracy; balance, credit, debits; errors.

1. Every company needs some way of keeping systematic ... about all trans­actions that have taken place, all this information being necessary to prepare further financial ....

2. The most commonly used books are known to be called ... and ....

3 to the general ledger is usually done in the second step of the accounting cycle.

4. The system is based on the equations that should be always kept in ... : payments must equal ..., and credits must balance ... .

5. The ... cycle is considered to be completed when the.. has been drawn up.

  1. The laboratories are doing some ... experiments before starting work on this project.

  2. ... and responsibility are sure to be the main qualities of any bookkeeper.

  3. Economists expect new computer programmes to be very helpful in detecting possible ... in the accounting system.

  4. In accounting and banking a ... is calculated as the difference between the total amount of money coming into (known as ...) and money go­ing out of (known as ...) an account.

  5. The balance sheet is known to ... the assets the firm owns and the liabilities for which it is responsible at a given period of time.