Language. 1. Practise reading the following international words, give their Russian

1. Practise reading the following international words, give their Russian

equivalents.

standard, privatized, audit, auditor, scandal, ambitious, client, balan-

ce, total, transaction, certified, licensed, potential, execute, execution,

control, controller, record v, keep records.

2. Practise saying the numbers from Figure 1 and 2.

3. Read the following numbers and expressions in English.

0.4 2.5 3.6 0.5 4.867

7/8 2/5

¼

27/38 3/10

305 4,057 25,478 1,946 925,046,305

5 × 7 = 35 249 × 35 = 8,715

15: 3 = 5 756: 6 = 126

16 – 10 = 6 7056 – 250 = 6806

Assets = Liabilities + Owner’s Equity

4. Complete the sentences by forming adjectives from the verbs on the

right according to the given pattern, work out the Russian equivalents of the

derivatives obtained.

v + -able → a 'that can be v-ed', e.g.

manage + -able → manageable 'that can be managed' – 1) поддаю-

щийся управлению, легко управляемый; 2) выполнимый, осущес-

твимый

market-able securities = 'that can be easily marketed (sold)' – ры-

ночные (легкореализуемые) ценные бумаги

1. The page had so many corrections and comments that

the original text was virtually un ……..

2. The proposals must be …… to the shareholders.

3. The new bank building is the most …… structure in the

city.

4. This section of law is only …… to businesses.

5. Her help made an …… difference.

6. A good manager must be able to adjust easily to ……

environment.

7. A large international meeting was held with the aim of

promoting ……development in all countries.

8. This is a highly …… product.

9. The recent tax reforms have made government more

…… for its spending.

read

accept

recognize

apply

appreciate

change

sustain

market

account

10. A cheque that is not …… cannot be exchanged for cash negotiate

and must be paid into a bank account.

11. The price of the car is …… in 12 monthly installments. pay

12. Accounts …… are classed as current assets on a balance

sheet.

13. Accounts …… are the amounts owed by a business to

suppliers.

14. The two of them are in …… financial situation.

receive

pay

compare

5. Add an appropriate negative prefix to italicized words, choose from

the list given.

ir- un- in- dis- ab- under- mis- de-

1. Low demand for their products has made production very …profi-

table. 2. You must make everything clear now in order to avoid any

…understandings later. 3. Four Seasons Ltd have been ... successful in

marketing the new product. 4. The report showed that moving the pro-

duction to a new site was …desirable. 5. We don’t have a detailed cost

analysis yet, so the management are …decided about future investment.

6. The management think that the policy of expanding sales is …correct.

7. Since …regulation, telephone companies have been able to set their

own prices. 8. They …estimated the effect of the competitor’s products

on sale in this market sector. 9. Lots of the documentation which was

lost in the fire is …replaceable. 10. Prices for raw materials are …normally

high at the moment. 11. They have decided to …continue the production

of Product P because sales have fallen. 12. They were accused of …using

their power to keep prices artificially high. 13. He was accused of … ap-

propriating $30,000.

6. Make word partnerships and use them in the sentences of your own.

1. supply

2. keep

3. evaluate

4. overstate

5. prepare

6. adhere to

7. audit

8. make

9. cook

a. performance

b. a balance sheet

c. accounting reports

d. books

e. information

f. standards

g. records

h. decisions

i. revenues

7. Identify which term of those on the right describes each mathematical

expression.

1. 75% a. formula

2. E = mc 2

b. multiplication

3. c. division

000’s 000’s

Jan

Feb

Mar

April

May

2.4

2.3

3.9

4.6

3.4

July 3.5

Aug 4.7

Sept 6.9

Oct 6.3

Nov 6.8

e. addition

f. ratio

g. rate

h. subtraction

June

Monthly

3.6

Dec

=

3.4

4.33

i. percentage

218

4. 1,623 + 3,004 = 4,627

5. 9,260 – 1,111 = 8,149

6. 87 × 25 = 2175

7. 1,505 = 301

8. Direct costs 724

Indirect costs 200

Costs

Direct: Indirect = 3.62

9. $12,24/hour

8. Match the words on the left to the right definitions, then use them to

complete the sentences that follow.

1. Accountancy a. record of money received and spent

2. Accounting

3. Account

4. Accountant

b. theory of keeping financial records

c. a person who keeps and works with financial records.

d. activity of keeping financial records

1. He’s at university studying ______. 2. A bookkeeper writes de-

tails of financial transaction in the ______. 3. A business manager

needs some ______ knowledge in order to understand what he reads in

the company’s ______. 4. Most people in the profession read ______

magazines and journals to stay informed. 5. The chief ______ has com-

pleted the draft ______ for the year. 6. Can you check that the figures

have been entered correctly in the bank ______? 7. The directors of the

company approve the ______ at the end of the ______ year. 8. Each

branch maintains its own full _____ system. 9. The management of the

company have not yet decided on their _____ policies. 10. He’s been

working as an ______ with this firm for several years now.

9. Identify the meanings of the ‘ account ’ phrases in bold in the sentences

below and give their Russian equivalents. Choose the correct definition from

the list on the right.

1. How do you account for the sudden fall in the

stock value?

2. Agents buy and sell goods on their own account.

3. They gave the solicitor a detailed account of the

customer’s business deals in the last year.

4. The draft accounts had to be adjusted on account of

the discovery that a major debtor had gone bankrupt.

5. Raw materials account for 30% of the manufactu-

ring cost.

6. They are regular customers in this shop and are

now able to buy on account.

a. people say

b. report

c. under no

circumstances

d. consider

e. explain

f. big customers

g. for themselves

h. because of

i. on credit

j. represent

7. On no account should these figures be released

before the board meeting.

8. When making decision for the future the ma-

nagers have to take this year’s poor performance into

account.

9. By all accounts, they will benefit greatly if the deal

goes through.

10. The advertising company has won two new ac-

counts in South Africa

10.* Translate the following sentences into English using ‘account’ phra-

ses from Activity 9.

1. Эти товары были приобретены в кредит. 2. Вы должны пред-

ставить нам детальный отчет о Ваших расходах за данный период.

3. По общему мнению, к концу года произойдет слияние этих двух

компаний. 4. Ни в коем случае нельзя прекращать работу пред-

приятия. 5. При принятии решений менеджеры должны учитывать

информацию, предоставляемую бухгалтерами. 6. Оплата за отопле-

ние составила 30% накладных расходов. 7. Мы должны скоррек-

тировать бюджет из-за происшедших изменений на рынке. 8. Моя

функция – искать новых заказчиков. 9. Ему приходится покупать

канцелярские принадлежности за свой счет. 10. Как можно объяс-

нить рост дефицита федерального бюджета в США в начале 90-х

годов?

11. Identify accounting terms defined on the left, some prompts are given.

1. all objects, tangible or intangible, that are of

value to its possessor, such as buildings, ma-

chinery, money in the bank, money owed by

customers, etc.

2. a financial plan for the future

3. the loss of value of the things that have been

consumed

4. a statement of the financial position of the

company

5. official books for keeping accounts

6. goods which are bought by the company

a_ _ _ _ s

b_ _ _ _ t

d_ _ _ _ _ _ _ _ _ _n

b_ _ _ _ _ e s_ _ _ t

l_ _ _ _ _ s

p_ _ _ _ _ _ _ s

7. goods which the company has available to sell s_ _ _ k

8. customers who have received goods but not

paid for them yet

d_ _ _ _ _ s

9. the company that has supplied goods but has

not received any money for them yet c _ _ _ _ _ _ r

10. companies make this when they sell their

goods for more than it costs them to make them p_ _ _ _ t

11. money which is borrowed l _ _ n

12. an official examination of accounts

a_ _ _ t

12. Match the English accounting terms to their Russian equivalents.

a. accounts receivable (US), or

debtors (GB)

b. liabilities

c. profit and loss account

d. stock taking

e. income statement

f. double entry bookkeeping

g. ledger

h. inventory

i. balance sheet

j. accounts payable (US) or credi-

tors (GB)

k. intangible assets

l. cash flow

m. accounting transaction

1. инвентаризация, переучет

2. дебиторская задолженность,

счета дебиторов

3. отчет о доходах и расходах

4. баланс, балансовый отчет

5. материально-производствен-

ные запасы, наличные товары

6. кредиторская задолженность,

счета к оплате, счета кредиторов

7. задолженность, обязательства,

пассивы

8. нематериальные активы

9. движение денежной налич-

ности

10. проводка

11. система двойной записи

12. главная книга, гроссбух

13. счет прибылей и убытков

13.* Render the following Russian text into English, use some of the ac-

tive vocabulary from activity 12:

Согласно международным бухгалтерским стандартам (МБС),

финансовая отчетность охватывает балансы, отчеты о доходах

(счета прибылей и убытков), отчет о движении денежных средств

и другие материалы. Обычно финансовые отчеты готовятся или

публикуются один раз в год и являются объектом аудиторского за-

ключения.

Баланс предприятия отражает финансовое положение пред-

приятия на определенную дату. В соответствии с МБС баланс

раскрывает содержание трех важнейших категорий: актива, обя-

зательств и капитала. Активы, характеризующие хозяйственные

средства предприятия, представлены в активе баланса, а обяза-

тельства, а также собственный капитал фиксируется в пассиве ба-

ланса. Несмотря на то, что во всех странах баланс принципиально

понимается одинаково, расположение его статей отличается мно-

гообразием.

Отчет о доходах, или отчет о прибыли, представляет собой опи-

сание отдельных обстоятельств, которые обусловили тот или иной

результат деятельности предприятия за определенный период.

В некоторых странах, например, в США, придается большое

значение отчету о движении денежных средств.

14. During a job interview Alan is talking about his previous jobs. Com-

plete what he says with the best form of the verb in brackets. Choose between

past simple, past continuous or past perfect, the first has been done for you.

INTERVIEWER: So, Alan, why did you quit your last job?

ALAN: Well at the time I (1) was working (work) as a financial officer

for an International Accountancy firm in London. I (2) ………. (be) in

the same company for three years.

INTERVIEWER: How (3) ……… (you/get) the job?

ALAN: Just after I (4) ……… (finish) university I (5) ………. (go) to a

job fair. I still (6) ……… (decide) what I wanted to do and I was interested

to see what kind of jobs there (7) ……… (be) at the fair. While I (8) ……….

(look) at information on one of the stands for a large international ac-

countancy firm, someone (9) ………. (give) me an application form to

fill in. I thought this might be a good career opportunity for me as I

(10) ………. (already/take) some accountancy exams for my degree. So

I (11) ……… (complete) the form and (12) ………(send) it off. They (13)

………. (interview) me the following week and I got job. At first, I (14)

……… (feel) satisfied with the job, but as time went by, things (15) ……….

(change) and I began to hate working there.

INTERVIEWER: So what (16) ……… (go) wrong?

ALAN: Well the situation was this: I (17) ……… (work) for a person

who was very difficult, er …very demanding … never satisfied. What’s

more, my job (18) ………. (become) too repetitive and really wanted to

do something more creative. So, that’s why I resigned … I (19) ……….

(not have) another job to go to, but I knew I (20) ………. (have) to make

a change.

15. Study the figures in the table describing the changes in three oil com-

panies’ performance and then complete the presentation extract analyzing

these changes with phrases of comparison given below; the first has been

done for you.