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Міністерство освіти і науки україниСтр 1 из 9Следующая ⇒
МІНІСТЕРСТВО ОСВІТИ І НАУКИ УКРАЇНИ СХІДНОУРАЇНСЬКИЙ НАЦІОНАЛЬНИЙ УНІВЕРСИТЕТ імені ВОЛОДИМИРА ДАЛЯ МЕТОДИЧНІ ВКАЗІВКИ та навчальні завдання для самостійної роботи з професійно-спрямованими текстами з англійської мови для студентів І,ІІ курсів заочного відділення спеціальності «Облік і аудит» ЛУГАНСЬК 2008 МІНІСТЕРСТВО НАУКИ І ОСВІТИ УКРАЇНИ СХІДНОУКРАЇНСЬКИЙ НАЦІОНАЛЬНИЙ УНІВЕРСИТЕТ імені ВОЛОДИМИРА ДАЛЯ МЕТОДЧНІ ВКАЗІВКИ та навчальні завдання для самостійної роботи з професійно-спрямованими текстами з англійської мови для студентів І,ІІ курсів заочного відділення спеціальності «Облік і аудит» З А Т В Е Р Д Ж Е Н О на засіданні кафедри англійської мови Протокол № 4 від 26.11.08 ЛУГАНСЬК 2008 УДК 625.282-8436(010) Методичні вказівки та навчальні завдання для самостійної роботи з професійно-спрямованими текстами з англійської мови для студентів І,ІІ курсів заочного відділення спеціальності «Облік і аудит» / Укладач: І.П.Вітренко – Луганськ, видавництво СНУ імені В.Даля, 2008. - 54с. Методичні вказівки призначені для студентів І і ІІ курсів заочного відділення спеціальності «Облік і аудит», які працюють над розвитком практичних навичок читання та перекладу текстів за фахом. Метою даних методичних вказівок є навчання студентів фахової лексики для усного та письмового спілкування.
Укладач: І.П.Вітренко, ст. викладач
Відповідальний за випуск Е.Г.Міквабія, доцент
Рецензент М.Л.Крамаренко, доцент
Методичні вказівки призначені для студентів І і ІІ курсів заочного відділення спеціальності «Облік і аудит». Методичні вказівки розроблені на принципах сучасної методики викладання англійської мови.
Методичні вказівки складено згідно з вимогами програми, яка передбачає навчання студентів мови як щодо знання лексики, так і стосовно до розвитку комунікативних навичок. Мета вказівок - навчити студентів основ перекладу спеціальної літератури з бухгалтерського обліку та аудиту, дати їм можливість опанувати фахову лексику для плідного спілкування. Допоможе їм у цьому низка лексичних та творчих вправ. Методичні вказівки складаються з текстів для обов’язкового читання, перекладу та обговорення, та текстів для додаткового читання. Тексти супроводжуються словником термінів з економіки і бухгалтерського обліку.
PART I
UNIT 1 1. Memorize the following words and word-combinations:
accounting бухгалтерский учет, бухгалтерський облік contribute вносить вклад, робити внесок entity экономическая единица, объект scarce дефицитный, недостатній concise точный, чіткий transaction сделка, хозяйственная операция term здесь, в выражении, у виразі profit-oriented ориентированный на получение прибыли, орієнтований на отримання прибутків financial statements финансовые отчеты, фінансові звіти essential важный, важливий range диапазон, діапазон obligation обязательства, забов’язання
2. Read and translate the text:
WHAT IS ACCOUNTING?
Accounting is «the language of business».The acceleration of change in our complex society has contributed to ever-increasing complexities in this «language», which we use in recording and interpreting basic economic data for individuals, businesses, governments, and other entities. Sound decisions, based on reliable information, are essential for the efficient distribution and use of scarce resources. Accounting, therefore, plays a very important role in our economic and social system. Because of the wide range of accounting activity, there is no concise description of accounting. Accounting is recording, sorting, and summarizing data connected with business transactions and events. Such data have a financial nature and are frequently, but not always, stated in monetary terms. Accounting is also connected with reporting and interpreting the data. Accounting is the process of identifying, measuring, and communicating economic information which helps the users of the information to make decisions.
Accounting is a service activity. Its function is to provide quantitative information about economic entities. The information, essentially financial in nature, is provided by reports, known as financial statements. Financial statements are useful in making economic decisions. We use these reports in describing the activities and financial status of different kinds of economic entities. They include hospitals, schools, cities, governmental agencies, and profit-oriented businesses. The objective of financial statements is to communicate information that is useful for investors, creditors and other users. Financial statements provide information about: ü an entity’s economic resources, obligations and equity; ü changes in an entity’s economic resources, obligations and equity; and ü the economic performance of the entity. Governmental units use accounting information in regulating businesses and collecting taxes.
3. Give Russian or Ukrainian equivalents for the following words and word combinations:
Service activity, quantitative information, economic entity, to communicate information, acceleration of change, economic data, sound decision, accounting activity, transaction, event, accounting information, ever-increasing complexity, basic economic data, scares resources, efficient distribution.
4. Answer the following questions:
5. Say if the following statements are true or false:
UNIT 2
1. Memorize the following words and word-combinations:
manage - вести, керувати rely on - полагаться, покладатися balance sheet - балансовый отчет, балансовий звіт income statement - отчет о доходах, звіт про прибуток accounting period - отчетный период, звітний період revenue - доход, доходи accounts receivable - счета к оплате, рахунки дебіторів stockholder - акционер, акціонер tax liability - задолженность по налоговым платежам, заборгованість за податковими платежами payroll deduction - отчисление на заработную плату, відрахування stocks and bonds - ценные бумаги и облигации, облігації 2. Read and translate the text:
UNIT 3 1. Memorize the following words and word combinations:
arithmetical techniques - арифметические действия, арифметичні дії human aspect - человеческий фактор, людський фактор estimate - оценка, оцінка report - отчет. звіт to be concerned - иметь отношение, мати стосунок provision - предоставление, обеспечение, забезпечення to be involved - быть вовлеченным, бути залученим relevant - относящийся, доречний appropriate - соответствующий, відповідний subsidiary - второстепенный, другорядний 2. Read and translate the text: FOUNDATIONS OF ACCOUNTING Accounting contains elements both of science and art. The important thing is that it is not merely a collection of arithmetical techniques but a set of complex processes depending on and prepared for people. The human aspect, which many people, especially accountants, forget, arises because:
2. Accounting reports are prepared in order to help people make decisions. 3. Accounting reports are based on activities which have been carried out by people. But what specifically is accounting? It is very difficult to find a definition that is all-inclusive. Accounting provides information in financial terms that helps make decisions.
Accounting is needed in any society. An accountant is concerned with the provision and interpretation of financial information. He does not, as an accountant, make decisions. Many accountants do of course get directly involved in decision-making but when they do they are performing a different function. Accounting is also concerned with reporting on the effects of past decisions. But one should consider whether this is done for its own sake or whether it is done in order to provide information which will prove helpful in current and future decisions. We think that knowledge of the past is relevant only if we can use it in making current and future decisions, for we can hope that we shall be able to influence the future by making appropriate decisions but we cannot redo the past. Thus the measurement of past results is a subsidiary role. But ‘backward looking’ accounting sometimes appears to be an end in itself.
3. Answer the questions:
4. Say whether the following is true or false. Use the phrases: Yes, it is true/it is so, I don’t think it is true.
5. Fill in the blanks with prepositions:
UNIT 4 1.Memorize the following words and word combinations:
to own - владеть, володіти asset - актив, актив asset accounts - счет активов, рахунок активів fixtures - встроенное оборудование, вбудоване обладнання claims - требования, претензии; вимоги, претензії to owe - задолжать, быть должным, заборгувати, бути в боргу stock - запас, запас, фонд, оборотний капітал debts - долги, борги liability - обязательства, грошові забов’язання, заборгованість tax - налог, податок, оподаткування to designate - устанавливать, обозначать, установлювати, позначати owner’s equity - уставной капитал, (акціонерний) капітал (компанії) account - счет, бухгалтерський рахунок бухгалтерського обліку income - доход, прибуток, дохід expenses - расходы, затраты, витрати ledger - главная книга, гросбух, головна книга net worth - чистая прибыль, чистий прибуток, зиск posting - проводка, бухгалтерське проведення, рознесення в рахунки, занесення в бухгалтерську книгу cash receipts - денежные поступления, грошові надходження, дохід
cash disbursement - выплата, виплата 2. Read and translate the text: ACCOUNTING Anything of value that a business or organization owns is commonly known as an asset. Asset accounts include cash, which is the money on hand or in the bank, furniture and fixtures, accounts receivable, the claims against customers that owe money, stock or inventory, office supplies, and many others that show what the organization owns. Debts owed to creditors are known as liabilities. If money is owed to an organization or person for things or services purchased on credit, this liability is called an account payable. Other liabilities include wages or salaries that are owed to employees, or taxes that have not yet been paid. The value of the business to the owner or owners is known as capital. Other terms used to designate capital are proprietorship, owners’ equity (usually abbreviated OE), ownership, or net worth. A separate account is kept for each asset, liability, and capital item so that information can be recorded for each of them. Accounts are also maintained for income and for expenses, and like assets, liabilities, or capital, these accounts are also entered in the ledger, which is a detailed listing of all the accounts of an organization. Entries from all the journals are transferred to the ledger at regular intervals. This process — called posting — is usually done monthly.
Journals, or books of original entry, are designed to record information about different transactions, including sales, purchases, cash receipts, cash disbursements, and many others. Journals have two or more columns to record increases or decreases in the accounts affected by the transaction, and they often have space for a date and an explanation of the transaction.
3.Answer the questions. Start you answer with one of the phrases: It is clear from the text…, As far as I understand…, The author says…:
UNIT 5
1.Memorize the following words and word combinations:
double-entry accounting system - двойной учет, подвійна бухгалтерія, бухгалтерський облік за методом подвійного запису to evolve - развиваться, розвиватися to enable - давать возможность, надавати можливість clear of debts - свободный от долгов, вільний від заборгованост і ownership - собственность, власність investment - капиталовложение, інвестиція accruing - нарастающий, наростаючий error - погрешность, ошибка, помилка equation - уравнение, рівняння to balance - балансировать, балансувати tangible - осязаемый, матеріальні активи intangible - неосязаемый, нематеріальні активи equity - доля в акционерном капитале предприятия, частка в капіталі підприємства, активи goodwill - репутація, репутація debit - дебет, дебет credit - кредит, кредит to affect - влиять, впливати total amount - общее количество, загальна кількість
2. Read and translate the text:
UNIT 6
1.Memorize the following words and word combinations:
external - внешний, зовнішній applicable - применимый, застосований to view - рассматривать, розглядати resolving - разрешение, розв’язання access - доступ, доступ capacity - способность, можливість to attempt - пытаться, намагатися reconcile - улаживать, приводити у відповідність reliability - надежность, надійність uniformity - единообразие, одноманітність to ensure - обеспечивать, забезпечувати
comparability - сопоставимость, зіставлення judgement - оценка, судження regulation - правило, правило
2. Read and translate the text:
ACCOUNTING STANDARDS
Accounting standards may be defined as «... uniform rules for external financial reporting applicable either to all or to a certain class of entity». Accounting standards may be viewed as a method of resolving potential conflicts of interests between the various user groups which have access to company accounts. The various groups have different objectives, information needs, and capacities for the generation and interpretation of information and, therefore conflicts may arise between groups outside the entity. It is a role of accounting standards to attempt to reconcile the conflicts. A number of important issues for the accounting profession should be mentioned here. These issues are as follows:
1. Reliability. Accounting information should be reliable in use. 2. Uniformity. The pressure for the standardization of accounting practices is to ensure a uniformity of treatment of data and hence an identity of the meaning of information. 3. Comparability. Reliability and uniformity are integrated in the notion of comparability. 4. Judgment. Accountants say that they should be allowed to exercise some judgment in interpreting data. This implies that some variety should be allowed for in the procedures available for transforming data into information. Accounting practice and financial reporting regulation have shown great variety internationally. In recent years there has been growing interest in the harmonization of international accounting. Factors which have stimulated the movement towards harmonization have included the increasing internationalization of business, the importance of multinational companies in the world economy, and the development of international capital markets. In 1973 the International Accounting Standards Committee (IASC) was established in an attempt to coordinate the development of accounting standards internationally.
3.Give equivalents to the following word-combinations:
Accounting standards, financial reporting, potential conflicts of interests, company accounts, information needs, accounting practice, reporting regulations, capital market.
4.Make up questions to which the following are answers:
5.Say whether the following is true or false. Use the phrases: One can’t deny...; I don’t think...; I am sure...; It is not quite so...:
6.Fill in the blanks with proper prepositions or adverbs where necessary:
UNIT 7 1. Memorize the following words and word-combinations:
raw data - исходные данные, вихідні дані money measurements - денежное измерение, грошовий вимір to set up - открывать, відкривати item - единица, статья, одиниця, стаття у балансі account title - название счета, назва рахунку accounting records - бухгалтерские отчеты, бухгалтерські звіти to take on - принимать, приобретать, набувати entry - бухгалтерская запись, проводка, бухгалтерське проведення, занесення у бухгалтерську книгу to encode - кодировать, кодувати to provide for - предоставлять, надавати to establish - открывать, відкривати balance - баланс, баланс 2. Read and translate the text:
THE ACCOUNT
The raw data of accounting are the business transactions. A business may be engaged in thousands of transactions during a period of time. The data in these transactions must be classified and summarized before becoming useful information. Making the accountant's task somewhat easier is the fact that most business transactions are repetitive in nature and can be classified into groups having common characteristics. An account is an element in an accounting system that is used to classify and summarize money measurements of business activities of a similar nature.An account is set up whenever it is necessary to provide useful information about a particular business item. The number of accounts in a company's accounting system depends on the information needed by those interested in the business. Accountants may differ on the account title (or name) they give for the same item. The account title should be logical to help the accountant group similar transactions into the same account. Once an account is given a title, that same title must be used throughout the accounting records. Accounts may take on a variety of formats. Some accounts are printed, and entries are written in by hand; others are on magnetic tape, and "invisible'' entries are encoded by a computer. Every account format must provide for increases and decreases in the item for which the account was established. Once a business event is recognized as a business transaction, it is analyzed to determine its increase or decrease effect on the assets, liabilities, owner's equity, revenues, or expenses of the business. These increase or decrease effects are then translated into debits and credits. Then the account balance (the difference between the increases and decreases) can be determined. 3.Answer the following questions:
1. What are raw data of accounting? 2. What makes the accountant’s task easier? 3. What is an account? 4. When is an account set up? 5. What does a number of accountants depend on? 6. In what may accountants differ? 7. What is translated into debits and credits?
4.Say if the following is true or false. Use the phrases: I have no doubt that...; I greatly doubt that...; It is a common knowledge that...:
1. A business may engage only one transaction during a period of time. 2. An account is used to classify money measurements of business activities of a similar nature. 3. The number of accounts depends on the information needed by those interested in the business. 4. Different titles should be used throughout the accounting records. 5. Accounts always take on only one format. 6. Increases and decreases effects are translated into debits and credits. 5.Fill in the gaps with the words:
UNIT 8 1. Memorize the following words and word-combinations:
statement of owner’s equity - отчет о капитале компании, звіт о капіталі підприємства statement of cash flow - отчет о движении ликвидности, звіт про переміщення готівки statement of financial position - отчет о финансовом состоянии, звіт про фінансове положення to list - перечислять, перелічувати net income - чистая прибыль/доход, чистий прибуток to exceed - превосходить, перевищувати net loss - чистые затраты/убытки, чистий збиток, чисті витрати withdrawal - изъятие, брати назад to exclude - исключать, виключати depreciation - обесценение, знецінювання, зниження вартості
2. Read and translate the text:
BUSINESS DOCUMENTS
The analysis of the transactions complete, what is the next step in the accounting process? How does an accountant present the results of the analysis? We now look at the financial statements. These business documents report financial information about the entity to persons and organizations outside the business. The primary financial statements are the (I) balance sheet, (2) income statement, (3) statement of owner's equity, and (4) statement of cash flow. The balance sheet lists all the assets, liabilities, and owner's equity at a point in time, usually the end of a month or a year. The balance sheet is like a snapshot of the entity. For this reason, it is also called the statement of financial position. A balance sheet is made up of two lists, placed side by side. On the left the company lists everything it owns, such as cash and 'fixed assets' called property, plant, equipment, which includeeverything from buildings and trucks to tools, pencils, and copy machines. This list is labelled assets. On the other side, the company lists its liabilities, consisting of all the claims to the company's assets, from creditors and from the company owners. The income statement, or profit and loss statement (P&L) measures the performance of an enterprise. It presents a summary of the revenues and expenses of an entity for a specific period of time, such as a month or a year. The income statement, also called the statement of operations, is like a moving picture of the entity's operations during the period. The income statement holds perhaps the most important single piece of information about a business—its net income, which is revenues minus expenses. If expenses exceed revenues, the result is a net loss for the period. The statement of owner's equity presents a summary of the changes that occurred in the owner's equity of the entity during a specific time period, such as a month or a year. Increases in owner's equity arise from investments by the owner and net income earned during the period. Decreases result from withdrawals by the owner and from a net loss for the period. Net income or net loss comes directly from the income statement. Investments and withdrawals by the owner are capital transactions between the business and its owner, so they do not affect the income statement. Another tool for understanding a company's activity is to look at its cash flow. This measures the actual flow of funds - real money - flowing into and out of a company during a given period of time. A company's cash flow factors out all of the accounting tricks and looks at what a company really earned, because it excludes accounting tools such as depreciation.
3.Make up questions to which the following are the answers:
4.Complete the following statements:
5.Match the terms and their definitions:
1. statement a. that which is owed by an organization; 2. equity b. something of value to an organization; 3. balance sheet с. all things owned by a business that have money 4. income value; 5. profit d. the debts owed by a business to its creditors and 6. liability to its owners; 7. revenue e. a statement showing the financial position of a 8. fund business to a certain date; 9. asset f. the amount by which the price received for goods 10. fixed asset is greater than the costs; g. resources used to support activities; h. money that you receive from investments; i. an increase in owner’s equity resulting from transactions; j. a written report about business activity
6.Speak about: Balance sheet Profit and loss statement Statement of owner's equity
UNIT 9 1. Memorize the following words and word-combinations: cash account - наличный счет, готівковий рахунок effect - влияние, вплив medium of exchange - средство обмена, засіб обміну face value - номинальная стоимость, номінальна вартість money order - платежное поручение, платіжне доручення notes receivable account - счет полученных векселей, рахунок векселів отриманих promissory note - вексель, вексель pledge - обязательство, забов’язання prepaid expenses - заранее оплаченные расходы, попередньо сплачені витрати 2. Read and translate the text: TYPES OF ACCOUNT
This text gives you more information about different kinds of accounts. Assets. Assets are rights to use resources that are expected to result in future economic benefit for the accounting entity. Cash. The cash account shows the cash effects of business transactions. Cash means money and any medium of exchange that a bank accepts at face value. Cash includes currency, coins, money orders, certificates of deposit, and checks. The cash account includes these items whether they are kept on hand, in a safe, in acash register, or in a bank. Notes Receivable. A business may sell its goods or services in exchange for a promissory note, which is a written pledge that the customer will pay the business a fixed amount of money by a certain date. The notes receivable account is a record of the promissory notes that the business expects to collect in cash. Accounts Receivable. A business may sell its goods or services in exchange for an oral or implied promise for future cash receipt. Such sales are made on credit (on account). The accounts receivable account includes these amounts. Prepaid Expenses. A business often pays certain expenses in advance. Pre-paid expenses are assets because they will be of future benefit to the business. The ledger holds a separate asset account for each prepaid item. Prepaid rent and prepaid insurance are prepaid expenses that occur often in business. Office supplies are also accounted for as prepaid expenses.
3.Answer the questions:
4.Complete the following statements:
5.Match the terms and their definitions: 1.Expenses a. Documents in which a person promises to pay a fixed sum of money on demand. 2.Transactions b. Amounts owed to a business by suppliers of goods and services. 3.Accounts receivable c. The cost of assets consumed in the process of earning revenue. 4.Promissory notes d.The economic events of the enterprise recorded by accountants.
UNIT 10 1. Memorize the following words and word-combinations: to recall - напоминать, нагадувати notes payable - выданный вексель, вексель виданий account payable - кредиторская задолженность, кредиторська заборгованість to imply - предполагать; мати на увазі, припускати to split - разбивать, розбивати remainder - остаток, залишок to merge - соединять, з’єднувати 2. Read and translate the text: TYPES OF ACCOUNT (continuation)
Liabilities. Recall that a liability is a debt. A business generally has fewer liability accounts than asset accounts because a business' liabilities can be summarized under relatively few categories. Notes Payable. This account is the opposite of the Notes Receivable account. Notes Payable records the amounts that the business must pay because it signed a promissory note to purchase goods or services. Accounts Payable. This account is the opposite of the Accounts Receivable account. The oral or implied promise to pay off debts arising from credit purchases of goods appears in the Accounts Payable account. Such a purchase is said to be made on account. Other liability categories and accounts are added as needed. Taxes Payable, Wages Payable, and Salary Payable are accounts that appear in many ledgers. Some other accounts may be as follows: ü Owner's Equity. The claim that the owner has on the assets of the business is called owner's equity. In a proprietorship or a partnership, owner's equity is often split into separate accounts for the owner's capital balance and the owner's withdrawals. ü Capital. This account shows the owner's claim to the assets of the business. After total liabilities are subtracted from total assets, the remainder is the owner's capital. The balance of the capital account equals the owner's investments in the business plus its net income and minus net losses and owner withdrawals. In addition to the capital account, the following accounts also appear in the owner's equity section of the ledger. ü Withdrawals. When the owner withdraws cash or other assets from the business for personal use, its assets and its owner's equity both decrease. The amounts taken out of the business appear in a separate account entitled Withdrawals, or Drawing. If withdrawals were recorded directly in the capital account, the amount of owner withdrawals would be merged with owner investments. To separate these two amounts for decision making, businesses use a separate account for Withdrawals. This account shows a decrease in owner's equity. ü Revenues. The increase in owner's equity from delivering goods or services to customers or clients is called revenue. The ledger contains as many revenue accounts as needed. If the business loans money to an outsider, it will also need an Interest Revenue account. If the business rents a building to a tenant, it will need a Rent Revenue account. Increases in revenue accounts are increases in owner's equity. ü Expenses. The cost of operating a business is called expense. Expenses have the opposite effect of revenues, so they decrease owner's equity. A business needs a separate account for each category of its expenses, such as Salary Expense, Rent Expense, Advertising Expense, and Utilities Expense. Expense accounts are decreases in owner's equity.
3.Speak about: Accounts payable, Capital, Withdrawals, Revenues, Expenses.
Use the phrases: I should like to begin…,I’d like to emphasize that…, Generally speaking…, As to…, It proves that…, As a result…. 4.Complete the following statements:
UNIT 1 1 1. Memorize the following words and word combinations:
auditing - аудит, аудит to involve - вовлекать, залучати evaluation - оценка, оцінка, визначення вартості financial record - финансовый отчет, фінансовий звіт irregularity - отклонение от нормы, відхилення від норми internal audit - внутренний аудит, внутрішній аудит misappropriation - растрата, незаконне привласнення, розтрата to be consistent - согласующийся, узгоджуватися installing - установка, установлення operating procedures - методы работы, методи роботи fiscal affairs - фискальные вопросы, фіскальні питання deviation - отклонение, відхилення standard operating procedure – стандартная методика, стандартна методика to seek - стремиться, намагатися sole - единственный, єдиний 2. Read and translate the text:
AUDITING
Auditing is an accounting function that involves the review and evaluation of financial records. It is done by someone other than the person who entered the transactions in the records. Not so many years ago, the presence of an auditor suggested that a company was having financial difficulties or that irregularities had been discovered in the records. Currently, however, outside audits are a normal and regular part of business practice. In addition, many corporations, especially the larger ones with complex operations, maintain a continuous internal audit by their own accounting departments. Even those companies that do not conduct an internal audit need to maintain a system of internal control. Most good systems will provide accounting controls against errors, as well as a division of duties to reduce the possibility of misappropriations. Ideally, a business should use as many internal controls as are consistent with efficient operation. In practice, the cost of installing and maintaining control systems forces management to decide which control devices to use. If there are too many controls, a time may come when the company's employees are spending more time filling out forms than performing productive work. As we noted above, many companies employ their own accountants to maintain an internal audit. They continuously review operating procedures and financial records and report to management on the current state of the company's fiscal affairs. These accountants also report on any deviations from standard operating procedures; that is, the company's established methods for carrying on its operating and recording functions. The internal auditors also make suggestions to management for improvements in the standard operating procedures. Finally, they check the accounting records in regard to completeness and accuracy, making sure that all irregularities are corrected. Overall, the internal auditors seek to ensure that the various departments of the company follow the policies and procedures established by management. The emphasis placed on different parts of the internal auditor's report varies from company to company. In some organizations, the auditor's major or even sole function is to report on the completeness and accuracy of the books of account, as the financial records are known collectively. In more progressive companies, greater attention may be paid to the auditor's suggestions. In this case, instead of dealing primarily with the accounting and financial aspects of the business, the auditor also deals with operations such as marketing, production, and purchasing.
3.Answer the questions:
4.Fill in blanks with missing words: Audit auditor/s auditing
5.Agree or disagree with the following, use the phrases: Absolutely, Perhaps, you are right…, Probably not…, That’s not exactly so…:
UNIT 1 2 1. Memorize the following words and word combinations:
public accounting - государственный учет, державний облік refinement - усовершенствование, удосконалення designation - обозначение, позначення compliance - соответствие, відповідність to comply with - подчиняться, підпорядковуватися conformity - соответствие, відповідність conduct - проведение, проведення to attain - достигать, досягати gauge - мера, міра
2. Read and translate the text: AUDITING STANDARDS In the early history of public accounting, the quality of audit examinations often varied widely, depending on the skill, understanding, and judgment of the particular audit involved. Even at this early stage in its development, the profession quickly recognized that standards were needed. Accordingly, the profession began drawing up a number of authoritative statements that have now undergone several decades of refinement and interpretation. A set of “generally accepted auditing standards” – to use their official designation – was issued. It is essential that every auditor has a thorough understanding of these standards. The auditor’s report refers directly to generally accepted auditing standards. The lack of compliance with generally accepted auditing standards is a violation of the Code of Professional Conduct. Thus, in conducting an audit, an independent auditor must comply with generally accepted auditing standards. Independent auditing firms themselves must comply with generally accepted auditing standards in conducting an audit practice. Such conformity involves the establishment of quality control practices and procedures. Note that there is a clear distinction between auditing standards and auditing procedures. The term procedures in auditing refers to the methods and techniques used by the auditor in the conduct of the examination. The audit procedures used will vary according to the particular circumstances of the individual audit examination. In contrast, auditing standards deal with measures of the quality of the auditor’s performance of the procedures and the objectives to be attained by the use of the procedures undertaken. Auditing standards rarely change, and then only by official decree. Generally accepted auditing standards are important for several reasons: they define the broad objectives for every independent audit; they provide a gauge for judging an auditor’
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