Мы поможем в написании ваших работ!



ЗНАЕТЕ ЛИ ВЫ?

Why is necessary to make adjustments in a balance sheet?

Поиск

What does the term “inventory” mean for an accountant?

Is the balance sheet considered to be the final financial statement document of the company?

What account does closing entries affect?

Text 3. Accounting Information

Active vocabulary

Access Доступ, подход
Evaluate Оценивать, устанавливать стоимость; определять качество
Financial performance Финансовая деятельность
Previous Предыдущий
Financial accounting Финансовая отчетность
Managerial accounting Управленческая отчетность; учет
Deal with (dealt) Иметь дело с…; рассматривать
Deal in Торговать
Pricing Калькуляция цен; ценообразование; установление цен;
Capital budgeting Составление сметы капиталовложений и их окупаемости; расчет рентабельности капиталовложений
Spread (spread) Распространять; распределять
Set Ряд; набор; комплект
Financial statement Финансовый отчет
Statement of cash flows Отчет о движении денежных потоков
Income statement Отчет о доходах
Statement of retained earnings Отчет о нераспределенной (реинвестированной) прибыли
Annual report Ежегодный отчет
Annually Ежегодно
Cash flow Поток наличности; движение денежной наличности, движение ликвидности
Inflow cash Приток наличности
Outflow cash Отток наличности
Inflow of assets Приток активов
Outflow of assets Отток активов
Relating to (smth) Относительно, касательно; относящийся к …
Source Источник
Reliable source of information Надежный источник сведений
Generate Производить; образовывать
Disclose Раскрывать; показывать
Disclosure Раскрытие; сообщение
Summarize Суммировать; резюмировать
Net loss Чистый убыток
Render Отдавать, платить
Render a service Оказывать услугу
Render an account for payment Предоставлять счет к оплате
Withdrawal Отзыв; изъятие; отмена; аннулирование; отказ; снятие со счета; изъятие

Accounting provides informational access to a company's financial condi­tion for three broad interest groups. First, it gives the company's management the information to evaluate financial performance over a previous period of time, and to make decisions regarding the future. Second, it informs the general pub­lic, and in particular those who are interested in buying its stock, about the fi­nancial position of the company. Third, accounting provides reports for the tax and regulatory departments (отделы по налогообложению и регулированию деятельностью компании) of the government. In general, accounting informa­tion can be classified into two main categories: financial accounting (or public information) and managerial accounting (or private information).

Managerial accounting deals with cost and profit relationships, efficiency and productivity, planning and control, pricing decisions, capital budgeting, etc. Not being generally spread outside the company, this information pro­vides a wide variety of specialized reports for division managers, department heads, project directors.

A standard set of financial statements is expected to be prepared regularly by financial accounting and published in an annual report at the end of the fiscal year. Being prepared in accordance with generally accepted accounting principles, these statements include the following items: 1) the balance sheet, 2) the statement of cash flows, 3) the income statement, 4) the statement of retained earnings.

Information relating to the financial position of a company, mainly about assets and liabilities, is presented in a balance sheet. The statement of cash flows shows the changes in the company's financial position and provides information which is not available in either an income statement or a balance sheet. Thus, the statement of cash flows represents the sources and the uses of the company's funds for operating activities (управленческая деятельность), applications of working capital and data about additional financial support. Provided the company couldn't generate sufficient cash to finance its activities, it would be necessary to bor­row money and it should be indicated in the statement.

Another financial statement disclosing the results of the company's activ­ity is known as the income and expense statement. Prepared for a defined time interval, this statement summarizes the company's revenues, expenses, gains and losses and shows whether a company has made a profit within the period. Income is considered to be the difference between revenues and expenses. If the total expenses exceeded the total revenues during the period, the difference would be the net loss of the company. Revenues are transactions that represent the inflow of assets as a result of operations — that is, the assets received from selling goods and rendering services. Expenses are transactions involving the outflow of assets in order to generate revenue, such as wages, salaries, rent, interest and taxes. In addition to disclosing revenues and expenses, the income statement also lists gains and losses from other kinds of transactions such as the sale of plant assets or the payments of long-term liabilities.

The income statement excludes the amount of assets withdrawn by the owners, in a corporation such withdrawal of assets being called dividends. The separate statement of retained earnings and stockholder's equity shows inves­tors what has happened to their ownership in the company, how earnings and new stock issuance have increased its value, and what dividends were paid.

Each of these reports contains figures for previous years and for the cur­rent period, providing a way of comparing present and past company perfor­mance. Being prepared for the use of management, the financial statements contain neither debit nor credit columns. These statements are accompanied by additional data about the particular accounting method used, as well as explanations about the most important events within the previous year.

Questions to the text:

  1. Who is interested in accounting information?
  2. What are the main differences between financial and managerial accounting?
  3. What financial statements are included in an annual report and when are they published?
  4. What information can stockholders get from the balance sheet?
  5. Why is it important to prepare the statement of a company’s cash flows?
  6. What kind of information is represented in the income statement?
  7. How can revenues and expenses be defined?
  8. What statement shows the amount of a stockholder’s dividends?
  9. Why is it necessary to prepare additional reports?
  10. What statement contains debit and credit columns?

Подумайте и скажите:

  1. In what financial figures and statements the following groups of people are more interested: a) stockholders, b) managers, c) creditors, d) the company’s employees, e) competitors, f) fiscal officials?
  2. Why is it necessary to develop similar accounting systems in different countries?

VOCABULARY AND GRAMMAR EXERCISES TO THE TEXT

“ACCOUNTING INFORMATION”

Exercise I. Переведите предложения, обращая внимание на союзы, вводящие условные предложения.

  1. If too much money is available, its value will decrease and it will result in inflation.
  2. Unless the company earned a reasonable profit, the share price would fall and it would be difficult to attract additional capital.
  3. The company would have achieved a higher sales level, provided the retail price had been decreased.
  4. If the output decreased, the company’s cost per unit of the goods produced would go up.
  5. Provided the managers had considered all aspects of business activity thoroughly, the company would have earned more revenue.
  6. If current liabilities exceed the company’s assets, the company will be forced to sell off its assets for the debts.
  7. The company would not have replaced the obsolete equipment unless it had issued new stocks.
  8. If the wage paid in a certain industry rises, workers will be attracted from other industries.


Поделиться:


Последнее изменение этой страницы: 2016-04-18; просмотров: 388; Нарушение авторского права страницы; Мы поможем в написании вашей работы!

infopedia.su Все материалы представленные на сайте исключительно с целью ознакомления читателями и не преследуют коммерческих целей или нарушение авторских прав. Обратная связь - 3.129.63.252 (0.006 с.)