Task 12 Read the article and complete it with a, the or zero article. What is the main idea of the article?
The Passionate Accountant
On Sunday I attended --1-- annual meeting of -----2--- church in ------3------ well-to-do part of Toronto where I am not ----4---- member. -----5----- person in charge of fundraising got up and said that -----6---- central church had not reached its fundraising goal last year and was asking for -----7---- 3% increase in givings. ------8---- motion was immediately passed to increase -----9---- donations to -----10--- central church. Only two people voted against ---11----- motion, both (as I learned later) accountants.
The Treasurer then made --12----- presentation about ---13----- financial statements and --14--- budget for next year. He pointed to ----15------ large amounts transferred from -----16----- reserve fund into ----17------ operating fund. He said ----18--- church would not be receiving -----19----- investment income it was used. He talked about ----20------ serious deficit and how -----21---- finance committee had ----22---- three year plan, which involved cutting some popular church events, to eliminate it. Suddenly I realized why --23------- accountants voted against ----24----- increase to ------25----- central church: ---26------ local church couldn't afford it. They see this as -----27----- major issue. The church is living beyond its means. It was -----28----- call to action.
People must be made to understand ----29---- seriousness of ---30---- situation and put all their weight behind -----31------ solution. We are like ----32---- people losing our culture and heritage in ----33------ new world. We must take extraordinary steps to maintain our way of life. ----34------ accountants in the room know the reality. They need to learn how to communicate their message effectively. They need passion.
SPEAKING
Task 13 Is ethics important in today’s business world? Is it more or less important to observe the rules of morality for accountants than for people in other professions? What ethical dilemmas can an accountant face?
Here is a case study on morality in accounting. Read the background information and answer the questions:
• Are you going to countersign the cheque? If not, what is your course of action going to be like?
• Are you going to inform anyone about what is happening?
• Is it possible to be assertive in this situation?
Work as a group to suggest a decision.
You and your wife have recently moved to a remote coastal town. You have found employment as financial accountant to a local private company. The company’s operations are all related to tourism, and it has, as its principal asset, a large Victorian hotel. Two directors (a husband and wife) who are actively engaged in the day-to-day running of the business own the company. You get on well with the directors and staff, and the directors of the company are clearly popular and well respected in the local community. You are still within your probationary period of employment. The company had faced some serious cash flow difficulties shortly before you took up your post. However, a remortgaging arrangement has eased the financial pressure. The managing director comes to you with a company cheque for £4,000, which he has already signed. He asks for your counter-signature, explaining that it is the deposit for the design work and furnishings for some of the hotel bedrooms. There is a formal invoice from a design studio, but you are surprised as you were not aware that any such outlays had been planned. Nevertheless, given the explanation and the supporting invoice, you counter-sign the cheque. Out of curiosity, you decide to conduct some research into the design studio. This indicates that the company had in the past a high level of indebtedness. You note that the company secretary appears to be the daughter of the directors for whom you work. Two days later, the managing director comes to you with another cheque, this time for £25,000, again needing only your counter-signature. There is a supporting invoice from the same design studio. You are hesitant. He says that it is important to submit the cheque promptly so that it may be banked before 30 April. You ask why there is such urgency, particularly as there is no evidence of any design work having started. The managing director laughs and replies that the money should be back in the hotel bank account by the middle of summer. He explains that the chequesare needed urgently to settle outstanding directors’ loan accounts at the design studio, as its year-end is approaching. Once the year-end has passed, the money should be returned to the hotel company and a supporting credit note received.
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