ACCOUNTANCY IN A FREE-MARKET ECONOMY
Nbsp; Государственный комитет Российской Федерации по рыболовству Камчатский государственный технический университет Кафедра иностранных языков
АНГЛИЙСКИЙ ЯЗЫК
Сборник текстов и упражнений для студентов специальности 060500 "Бухгалтерский учет, анализ и аудит"
Петропавловск-Камчатский 2003
УДК 4И (Англ) ББК 81.2 (Англ)
Г95
Рецензент:
Н.П. Дьякова,
доцент кафедры иностранных языков
Гурская Т. А.
Г95 Английский язык. Сборник текстов и упражнений для студентов специальности 060500 "Бухгалтерский учет, анализ и аудит". – Петропавловск-Камчатский: КамчатГТУ, 2003. – 39 с.
Методические указания составлены в соответствии с требованиями к обязательному минимуму содержания основной образовательной программы подготовки специалиста по специальности 060500 "Бухгалтер-ский учет, анализ и аудит" государственного образовательного стандарта высшего профессионального образования.
Рекомендовано к изданию решением ученого совета КамчатГТУ (протокол № 6 от 18 апреля 2003 г.).
УДК 4И (Англ) ББК 81.2 (Англ)
© КамчатГТУ, 2003 © Гурская Т.А., 2003
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I. ACCOUNTING
ACCOUNTING PRINCIPLES AND CONCEPTS
Vocabulary l i st
accounting
to a significant extent phase
capture processing communication recording
book-keeping record
at a profit
to meet one's commitments to fall
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accounting equation assets
liabilities owner's equity
financial statements balance sheet income statement
profit and loss account double-entry book-keeping entry
account cash basis
accrual basis
debit debit side credit credit side
бухгалтерский учет
в значительной степени стадия, фаза
(зд.) получение (информации) обработка (информации) передача (информации) запись (информации) счетоводство
запись, записывать, отражать в отчетности с прибылью
выполнять обязательства
dueнаступать (об обязательствах), подлежать оплате, подлежать выполнению бухгалтерское равенство
активы пассивы
собственный (акционерный) капитал компании финансовая отчетность балансовый отчет, баланс отчет о прибылях и убытках счет прибылей и убытков
бухгалтерский учет по методу двойной записи запись, проводка
счет
метод записи доходов и издержек на счетах только при их поступлении и выплате, кассовая база
метод вычислений при учете доходов и издержек, запись доходов и издержек в момент завершения операции
дебет
левая сторона баланса, дебет счета кредит
правая сторона баланса, кредит счета
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TEXT
An accounting system in a given country is one of the key elements of the eco-nomic system. It is determined to a significant extent by the level and direction of the economic system's development.
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The most important theoretical concept of the Anglo-American accounting may be summed up as follows: the subject of accounting is the calculation of the financial re-sults of an economic entity's business activity.
Accounting is used to describe the transactions entered into by all kinds of organi-zations.
Accounting can be divided into three phases: capture, processing and communica-tion of financial information.
The first phase, the process of capturing financial information and recording it, is called book-keeping . Accounting extends far beyond the actual making of records. It includes their analysis and interpretation, it shows the relationship between the finan-cial results and events, which have created them.
Accounting can show the managers or owners of a business whether or not the business is operating at a profit, whether or not the business will be able to meet the commitments as they fall due.
Accounting is based on the accounting equation, which states that a firm's assets must equal its liabilities plus its owners' equity.
Assets and liabilities, profits and losses are listed in financial statements. The two main types of financial statements are the balance sheet and the income statement (profit and loss account).
The balance sheet lists a firm's assets, liabilities and owner's equity at a point of time. Changes in the balance sheet are made according to the principle of double-entry
book-keeping. This principle states that each transaction must be recorded on the bal-ance sheet as two separate entries so that the totals of each side will always equal one another, and that this will always be true no matter; how many transactions are entered into.
Balance sheets are dawn up periodically: monthly, quarterly, half-yearly, annually. There is an account for every asset, every liability and capital. Accounts can be
prepared either on a cash or accrual basis. Each account should be shown on a sepa-rate page.
The double entry system divides each page into two halves. The left-hand side is called the debit side, while the right-hand side is called the credit side.
The balance sheet shows a lot of useful financial information, but it does not show everything. A firm's sales, costs, and profits for a given period are shown in an in-come statement.
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Answerthequestionsonthetext:
1. What role does an accounting system play in an economy? 2. Into what phases is accounting broken down?
3. What is an accounting equation?
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4. What is the most widely practised principle of book-keeping? 5. What does the balance sheet list?
6. What is shown in the income statement?
FindEnglishequivalentsforthefollowingRussianphrasesfromthetext: ключевой элемент экономической системы; финансовые результаты хозяй-
ственной деятельности хозяйствующего субъекта; сделки, в которые вступают различные организации; получение, обработка и передача информации; отраже-ние информации в финансовой отчетности; работать с прибылью; выполнять свои обязательства; бухгалтерское равенство; активы должны быть равны пас-сивам; в балансе отражаются ... ; учет по принципу двойной записи; отражать в балансе, составлять баланс; счет прибылей и убытков.
Sayinafewwordswhatthetextisabout.Usethefollowingopeningphrases: The text looks at (the problem of...)...;
The text deals with the issue of...; It is clear from the text that...;
Among other things the text raises the issue of...;
The problem of ... is of great importance. One of the main points to be single out is ...; Great importance is also attached to ...;
In this connection, I'd like to say ...; It further says that ..;
I find the question of... very important because ...; We shouldn't forget that...;
I think that ... should be mentioned here as a very important mechanism of... .
ACCOUNTANCY IN A FREE-MARKET ECONOMY
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Vocabulary l i st
Accountancy Performance economic status managerial outside user
financial accounting going-concern basis assumption economic substance relevance timeliness
prudence reliability
бухгалтерский учет
показатели деятельности, результаты работы экономическое положение
accounting управленческий учет внешний пользователь финансовый учет
принцип работающего предприятия посыл, предположение, допущение экономическая сущность релевантность
своевременность предусмотрительность надежность
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materiality consistency comparability harmonize
материальность, существенность неизменность, преемственность сравнимость, сопоставимость гармонизировать, сближать
TEXT 2
In a free-market environment, accounting provides a means for transmitting in-formation about the performance of enterprises to those with an interest in it.
The basic functions of accounting in a market economy are to measure economic activity of an enterprise and its profit, to show changes in its financial position and ensure that a fair report of the economic status and performance is made available to all those concerned. These functions are performed at two different levels.
The accountants in the US communicate financial information to many people. What users need financial information?
One branch of accounting, called managerial accounting, provides information that managers use in making decisions within the firm. Other accountants prepare financial reports for outside users. This branch of accounting is known Q S financia l a ccounti n g .
American accounting standards and objectives of financial statements fully meet the users' needs for useful information. The following basic principles ensure the pro-vision of such information in the manner the market requires. First of all, accounts must be prepared on a going-concern basis. It means accounting is based on the as-sumption that the business will continue to operate. Besides, accounts must reflect the economic substance of the situation rather than simply its legal form. Other characte-ristics that make information useful for the users are relevance, timeliness, prudence, reliability, materiality, consistency and comparability.
Though these concepts are recognized internationally, users of information often fail to get a true and fair view of business operations. In the present conditions, there is need to work harder to harmonize national accounting systems so as to make it easier for users to assess financial information, particularly taking into account growth of transnational corporations and increasing interdependence of financial markets.
Answerthequestionsonthetext:
1. What is the role and functions of accountancy in a free-market economy? 2. Who uses financial information?
3. What are the major objectives of financial statements? 4. What is "useful" information for users?
FindEnglishequivalentsforthefollowingRussianphrasesfromthetext : передавать информацию; измерять; изменения в финансовом положении
предприятия; финансовый учет; управленческий учет; цели финансовой отчет-ности; принцип работающего предприятия; экономическая сущность; давать ис-тинное представление о деятельности фирмы; сближать принципы учета.
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