Chartered Accountant / Certified Public Accountant

Accountants who have gained sufficient work experience, often decide to obtain a professional license. The license demonstrates that they have undergone further training and examination, providing to their clients that they possess a high level of professional ____________ (4).

    UK: Holders of such licence in the UK are called Chartered Accountants. The major accounting body in charge of organizing training and examination is the Institute of Chartered Accountants in England and Wales (ICAEW). Chartered accountants who wish to specialize in taxation tend to train toward qualification as Chartered Tax Advisers, which is the highest level ________ (5) qualification in the UK.

    US: ________ (6) accountants in the US are known as Certified Public Accountants (CPAs), while the corresponding accounting body is the American Institute of Certified Public Accountants (AICPA).

    Tax Accountants and Law

Although tax accounting generally focuses on preparation, analysis and presentation of __________ (7), in its essence, it is application of tax laws to finance. Therefore, tax accountants must be good at implementing and interpreting ___________ (8) and have broad knowledge in this field.

 

Exercise 6. Match the words below to their definitions.

1. Tax Issues	A. an internal company tax accountant
2. Tax Authorities	B. a person who advises other people and companies on tax affairs, especially on legal ways of paying less tax
3. Tax Return	C. a degree to which a taxpayer complies with the tax laws
4. Tax Estimate	D. a government body responsible for administering tax laws and collecting taxes
5. Tax Compliance	E. an accountant who has passed the professional examinations administered by a country’s institute of chartered accountants
6. Small Business Tax Accountant	F. tax accountant specialized in providing services to small companies
7. Corporate Tax Accountant	G. a firm that provides accounting services to general public
8. Public Accounting Firm	H. tax-related matters
9. Chartered Accountant	I. a rough calculation of your tax liability
10. Tax Consultant	J. a standard form provided by tax authorities on which a taxpayer reports taxable income

SPEAKING FOCUS

1. Discuss the advantages and disadvantages of

§ workingas a tax accountant in your own independent practice

§ being employed as a tax accountant in a large corporation

§ working for a large public accounting firm

§ being employed in the state tax administration

§ being an independent tax consultant

2. What are educational requirements for becoming a tax accountant in your country?

3. What is the major accounting body that issues a CPA license in your country?

4. What does the process of obtaining a CPA license involve in your country?

5. In your opinion, what are the key skills and personal qualities that a tax accountant needs?

6. Why did you choose the career in this field?

 

VOCABULARY FOCUS

accelerated depreciation                       ускоренная амортизация

accounting requirements                      правила отчетности

additive                                       добавка

agreement procedure                   процедура соглашения

anticipate (v)                               предвидеть

amortized assets                         амортизационные активы

application acceptance                принятие заявления

assets tax                                    налог на активы

at the expense of                         за счет

be entitled to                               иметь право на

be exempt from                           освобождаться от

certified public accountant                   дипломированный бухгалтер высшей квалификации

chartered accountant                   сертифицированный бухгалтер

civil contract                               гражданско-правовой договор

constituent entity                        субъект

cord                                            шнур

corporate profit tax                    налог на прибыль организаций

corporate tax accounting                      налоговый учет организации

corporate ownership                   корпоративная собственность

customs duty                              таможенная пошлина

engage (v)                                   заниматься

emergence of ownership right     появление права собственности

employment agreement               трудовой договор

exercise (v)                                  осуществлять

foreign direct investment                      прямые зарубежные инвестиции

granted to                                   предоставленные

in person                                     лично

legal entity                                  юридическое лицо

legal possession                          юридическое владение

legal standing                              правовое положение

legislative provision                    законодательное обеспечение

public tax accountant                 бухгалтер по налогообложению

real estate tax                              налог на недвижимость

recreational                                 развлекательный

scheduled investments                запланированные инвестиции

simplified                                    упрощенный

special tax treatment                   специальный налоговый режим

straight line depreciation                      линейная амортизация

tax administration                                налоговое администрирование

tax authorities                             налоговые власти

tax consultant                             налоговый консультант

tax compliance                            выполнение налоговых правил

tax estimate                                          расчет налога

tax exemption                             освобождение от налога

tax incentive                               налоговый стимул; налоговая скидка

tax issues                                    налоговые вопросы

tax liability                                 налоговая ответственность

tax mode                                     налоговый режим

tax planning                                         налоговое планирование

tax preferences                      налоговые преференции

tax return                                             налоговая декларация; налоговая отчетность

take benefit of (v)                        извлекать выгоду из

unified tax                                   единый налог

unified social tax                         страховые взносы

vastly                                                   значительно

venture                                        предприятие

wagering                                     заключение пари

 

 

PART 3