I. Read and translate the text. Write down the translation of the second paragraph. 

  What is the Difference Between Accounting and Bookkeeping?

1.The differences between bookkeeping and accounting are not many, as both fields are fairly similar. Bookkeeping focuses on general business activities such as payables, receivables, billing, and sometimes payroll. Whereas accounting is focused on the financial side: general ledger entries, account reconciliations, and financial reporting.

2. Accounting is a broader term of bookkeeping. Bookkeeping helps in the day-to-day operations and preparing financial statements of an enterprise. Accounting relates to the internal control of the business, detecting errors in recording entries and gives financial reports of the values and performance of the business to the management and to other people like the shareholders.

3. Bookkeeping is an indispensable subset of accounting, and refers to the process of accumulating, organizing, storing, and accessing the financial information base of an entity. Accounting is much broader, and goes into the realm of designing the bookkeeping system, establishing controls to make sure the system is working well.

4. A bookkeeper is a broad, basic job function in accounting usually without any formal education. By definition, it is someone who records the accounts or transactions of a business. The «books» refer to the financial records of a business whether actually kept in books or on computer software. The bookkeeper might also make bank deposits, balance accounts, handle payroll, prepare and send invoices, etc.

5. Most business owners start out doing their own bookkeeping, but then defer to a professional accountant or CPA when it comes to taxes. An accountant is a general term for a formally educated professional who helps maintain financial records, analyzes financial records, and/or make sure taxes are paid properly. They may or may not be certified as a public accountant (CPA). An accountant has thorough knowledge of cash flow, owner’s equity, balance sheets, chart of accounts, etc. and their effects on a business. CPAs must maintain a certain amount of professionally logged hours per the state they are certified within. To become a CPA, you must pass the CPA exam. Not all accountants take the exam and not everyone who takes the exam passes.

2. Бухгалтерский учет — это более широкий термин по ведению бхгалтерии. Бухгалтерия помогает в повседневной деятельности и подготовке финансовой отчетности предприятия. Бухгалтерский учет относится к внутреннему контролю бизнеса, выявляет ошибки в записях и предоставляет финансовые отчеты о стоимости и эффективности бизнеса руководству и другим людям, таким как акционеры.

 

II. Decide whether the following statements are a) true, b) false or c) information is not available in the text.

 

1. Accounting helps organizations to determine their financial rights and

obligations.

2. Bookkeeping is considered as a small part of accounting.

3. Bookkeeping helps in the daily operations and preparing balance sheet of an enterprise.

  Оформите ваши ответы в данной таблице:

1	2	3
True	True	True

 

III. Complete the sentences (1-6) with the most suitable prepositions (a-d).

1. IT equipment depreciates quickly so we amortize it ………three years.

  a) over b) at c) with d) in

 

2. They weren’t going to pay so I had to write it ………as a bad debt.

  a) of b) up c) off d) down

 

3. I deal ………..a lot of people in the company and with our customers.

  a) — b) in c) with d) at

 

4. I didn’t spend as much as expected and I was ……..budget by $12,000.

  a) at b) under c) on d) with

 

5. The competition was so fierce we were driven …….the market.

  a) off b) out c) into d) out off

 

6. I need an investor to put………the money for the new equipment.

  a) by b) up c) in d) on

 

 Оформите ваши ответы в данной таблице:

 

1	2	3	4	5	6
d	d	c	a	b	c

 

IV. Match the words (1-10) with their definitions (a-j).

 

1) pension a) something that the government collects and no one

  likes to pay

2) bank b) where you go to borrow money or get cash

3) tax c) a type of investment made by a company when buying

  equipment

4) dividends d) the situation where a company does not have enough

  money or property to pay its debts, and so the company

  closes

5) shares e) rising prices, rising costs and rising wages in an

  economy

6) inflation f) what you buy if you invest money in a company

7) bankruptcy g) individuals who invest their money in a company hope

  to receive these regularly

8) capital spending h) when you are old, you hope to have one of these

 

 

Оформите ваши ответы в данной таблице:

1	2	3	4	5	6	7	8
h	b	a	g	c	e	d	f

V. Complete the sentences (1-10) with the words (a-j).

a) information b) debit c) resigned d) reforms e) skills   f) liabilities g) clientele h) salaries i) balance sheet j) data

1. I didn’t like the way the company was being run so I…….

2. Our…….. includes several multinational companies.

3. The government brought in several market …….to strengthen the economy.

4. ………are recorded on the right side of the balance sheet, while assets are listed on the left.

5. More and more people are giving up jobs with huge……. to move to a slower,

more relaxed lifestyle.

6. She recorded the purchase of the new laptops as a ………entry.

7. This document is for the ……..of our international customers.

 8. The ………… is an important accounting document showing a company’s assets, liabilities and the owner’s equity.

9. The committee needs someone who has some …….. in financial planning.

10. Today, business, government, and other organizations depend on computers to

process …….. and to make information available for decision-making.

Оформите ваши ответы в данной таблице:

1	2	3	4	5	6	7	8	9	10
c	g	d	f	h	b	a	i	e	j

 

VI . Match (1-10) with (a-j) to make up sentences.

 

1. A successful business is built on 2.  Very often poor quality service is the result of 3.The company is starting a new round of negotiations  4. She works as a project manager for 5. I’m in charge of planning our work 6.Experience of managing a modern production plant 7. Inexperienced and inefficient  managers must do their best to  improve 8. Our programmers identified what they thought the problem was 9. If a company does not satisfy people’s needs, it will lose 10. In business it is very important to balance the interests of a firm

a) poor management. b) careful financial management. c) its customers and suffer great losses. d) with its main workforce. e) the construction company. f) with the interests of customers. g) is essential. h) their professional skills. i) with the software. j) for the whole year.

 

Оформите ваши ответы в данной таблице:

1	2	3	4	5	6	7	8	9	10
b	a	d	e	j	g	h	i	c	f

 

VII. Put the words in the correct order to make up sentences.

 

1. Does working longer hours increase your chances of getting a promotion?

2. Production reached its lowest point in September.

3. I often need to meet our clients at office in London.

4. We have a strong marketing department.

5. He has a good working relationship with colleagues.

 

VIII. Complete the sentences with the correct form of the words in capitals.

 

1. If you need to improve your skills, find out about TRAINING courses in your area. TRAIN

2. If there aren’t many jobs in your area, it is worth considering the POSSIBILITY of moving. POSSIBLE

3. The more APPLICATION forms you fill in, the more your chances of being called for an interview increase. APPLY

4. Meetings are good if everyone PREPARES for them very carefully in advance. PREPARATION

5. He is the only person here who can ANALYZE the situation properly. ANALYSIS

 

IX. Listen to the text BUSINESSES using http://www.listenaminute.com/b/business.html and answer the following questions:

1. Why are many businesses going bust? Many businesses are going bust because of the global financial crisis. 

2. What sound businesses are mentioned? The car industry and electronics are mentioned

3. Why online business might be good? There seems to be less risk.