Task 2. Answer the questions

Вариант 1

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

Translate the text.

                                                Accounting.

Accounting is systematic development and analysis of information about the economic affairs of an organization.

The actual recording and summarizing of financial transactions is known as bookkeeping.

When the data thus produced are abstracted in reports (usually quarterly or annually) for the use of persons outside the organization, the process is called financial accounting.

Three reports are typically generated in financial accounting: the balance sheet, which summarizes the firm's assets and liabilities; the income statement, which reports the firm's gross proceeds, expenses, and profit or loss; and the statement of cash flow, which analyses the flow of cash into and out of the firm.

The creation of reports (usually monthly) for internal managerial use is called managerial accounting. Its aim is to provide managers with reliable information on the costs of operations and on standards with which those costs can be compared, to assist them in budgeting.

 

Сопоставьте:

1. Assets                                           a)Funds provided by outside lenders and other creditors

2. Liabilities                                    b)Financial statements

3. А set of accounting reports          c)The balance sheet                     

4. The end product of financial        d)Valuable rights owned by the company

accounting process  

 

3. Подготовьте небольшое сообщение (7-10 предложений) о бухгалтерском учете, опираясь на данные вопросы: Prepare a small talk (7-10 sentences) about accounting.

1. What is accounting?

2. How often are the data abstracted in reports?

3. Name the three reports in financial accounting.

4. What is the aim of managerial accounting?

 

Министерство образования и науки Самарской области

ГБПОУ «СТЭК»

Вариант 2

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

Task 1. Translate the text

Liabilities.

Liabilities refer to all the debts a company owes. They are categorized into current liabilities and long-term liabilities. Current liabilities reflect the amount of money the company owes and must pay within the coming year. Some of these debts include unpaid wages, bank and bond interest, legal fees, pension payments and taxes. Companies often need additional cash to operate. Thus, money is borrowed from banks and other lenders. In return, the borrower gives the lender a written promissory note, stating that borrowed funds will be returned within a year. These are called notes payable. Funds owed by the company for goods and services provided on credit by its suppliers are accounts payable. In addition there exist accruals, expenses that have been incurred, but because of an incomplete transaction, they have been recorded. It should be mentioned that if a corporation's tax bill high enough, the corporation must pay its taxes monthly. The tax payments may be based either on the estimate of the current year's taxes owned or the previous year's taxes.

Task 2. Answer the questions

1. What is included in current liabilities?

2. What are notes payable?

3. What are accounts payable?

4. What are accruals?

 

Task 3. Подготовьте небольшое сообщение (7-10 предложений) о пассивах, дав определение и приведя примеры текущих и долгосрочных обязательств.

Give the definition of liabilities and give examples of current and long-term liabilities.

 

   

  Министерство образования и науки Самарской области

ГБПОУ «СТЭК»

Вариант 3

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

                                         

Task 1. Translate the text

Company ^‘s assets.

Assets represent all the physical goods and things of value "owned" by the company. Assets include finished and unfinished inventory, land, building, equipment, cash and money owed to the company from credit sales or money lent to others.

The size of the company is often measured in terms of its assets. Two major categories of assets are current assets and fixed assets (i. e. Property, plant and equipment).

Current assets include cash and items, which in the normal course of business will be converted into cash within an operating cycle. They generally consist of cash, marketable, securities, receivable, inventories and prepayments.

So, cash is the money that is on hand and the money on deposit in the bank.

While marketable securities represent investment of temporary cash surpluses in some form of short-term interest - earning instrument.

Fixed assets, in summary, are the investments in property, plant, and equipment. Most of the company's assets can be seen and touched. There are, however, some items of value that are not tangible, yet are customarily recorded as assets. For example, patents and franchise rights are intangible assets.

 

Вариант 4.

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

Task 1. Translate the text.

 

Вариант 5.

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

Task 1 Translate the text

What is accounting?

Accounting can be defined as the measuring and recording of all financial data concerning a particular entity, that is business, government organisation, etc.

 Financial reporting is the communicating of such information in appropriately summarised form. In the UK such summarised form is called "Accounts". In the USA it is called "Financial statements".

Financial reporting provides information that is useful to present to potential investors, creditors and other users in making rational investment, credit and other economic decisions.

Accounting is often referred to as the "language of business” and, as a direct result of the work of accountants and auditors. A wide range of different users of financial reporting are able to answer questions such as:

How much profit did the company make last year?

How much should I lend to the company?

Is this company more successful than its competitors? etc.

Accountants are therefore those individuals specialized in the "art" of capturing the correct data, and preparing the most meaningful financial reports from that data. Accountants are assigned in their work by bookkeepers, who operate some form of accounting system, usually computerized, to help accumulate, summarise and report the many thousands of transactions that affect an economic entity every year.

 

Вариант 6

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

                              

Task 1. Translate the text

Auditors.

Auditors review the financial records of a company. These reviews are called audits. To ensure that transactions are recorded, classified and summarized properly, the records for each of these accounting activities must be reviewed regularly. Internal auditing must ensure that accounting and operating policies and procedures are being properly and consistently followed. Internal auditors can not report to an accounting or financial officer. They report directly to an audit committee of the board of directors of the corporation. The term "independent audit" means a check of the accounting records of an economic entity by CPA, who is not employed by the entity. The CPA's audit report declares that the financial reports issued by the economic entity are fairly stated and prepared in accordance with generally accepted accounting principles. Currently, outside audits are a normal and regular part of business practice.

 

Вариант 7

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

Task 1. Translate the text

Accounting principles.

 

Accounting is a service that provides the facts needed for economic decisions in our society. The information is provided in the form of financial reports.

Over the years, certain rules called generally accepted accounting principles have been developed to assure us that financial reports are prepared in specific way.

So, accounting as system, that measures business activities, processes that information into reports and communicates these finding to decision-makers, has the following conceptions and principles:

1. The cost principle

1. The business entity concept

2. The objectivity principle

3. The going concern concept

After the business entity enters into a written or oral transaction with a second party, a business document is prepared. Then, the transaction is analyzed and journalized in the general journal which entries are posted to the accounts.

After that the balances in the general ledger accounts are determined and an unadjusted trial balance is prepared. When adjusted entries are prepared as needed, the financial statements are made.

 

Вариант 8

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

Task 1. Translate the text

Crediting.

 

Credit is transaction between two parties in which one (the creditor or lender) supplies money, goods, service, or securities in return for a promised future payment by the other (the debtor or borrower). Such transactions normally include the payment of interest to the lender. Credit may be extended by public or private institutions to finance business activities, agricultural operations, consumer expenditures, or government projects. Large sums of credit are usually extended through specialized financial institutions such as commercial banks or through government lending programs. If you are interested in obtaining information regarding small business loans, the bank provides many loan programs available for small businesses. For example some of them can offer you cash-secured loans, vehicle loans, equipment loans, real estate loans.

Cash-secured loans-денежные займы

 

Task 2. Make up a dialogue. Use the phrases and put them in the logical order:

The interest rate is somewhat overestimated. We’d like to get a…credit That must be discussed with us at the time of application. How shall the credit be repaid? On what terms does the… bank grant credit? The credit must be repaid… Are there any special terms available for long-term clients? The…bank grants credit on…interest rate.

Task 3. Подготовьте небольшое сообщение (7-10 предложений) о кредитовании, видах кредитов, предоставляемых банками.Prepare a small talk (7-10 sentences) about crediting and types of credit, provided by the banks.

 

 

Министерство образования и науки Самарской области

ГБПОУ «СТЭК»

Вариант 9/

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

Inflation.

Task 1. Translate the text

 

Inflation is generally thought of as an inordinate rise in the general level of prices. Four theories are commonly used to explain inflation. Let’s speak about the first two theories. The first and oldest, the quantity theory, promoted in the 18th century by David Hume, assumes that that price will rise as the supply of money increases.

A second approach is John Maynard Keyless theory of income determination, which assumes that inflation occurs when the demand for goods and services is greater than the supply. It calls for the government to control inflation by adjusting levels of spending and taxation and by raising or lowering interest rates. It is argued by some economists that inflation is good for the economy since deflation leads to unemployment, but clearly, a high level of inflation is injurious and makes economic progress difficult.

 

Task 2. Translate

Уровень цен

Уровень инфляции

Дефляция

Процентная ставка

Доходы

 

Task 3. Подготовьте небольшое сообщение (7-10 предложений) об инфляции, опираясь на данные вопросы.

1. What is the reason of inflation?

2. Is inflation rate high in Russia?

3. Tell about the theories used to explain inflation.

 

Министерство образования и науки Самарской области

ГБПОУ «СТЭК»

Вариант 10

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

Task 1.Translate the text

Taxes.

 

Taxes are a general obligation of taxpayers and are not paid in exchange for any specific benefit. They have existed since ancient times – property taxes and sales taxes were known in Rome. Taxes have three functions: to cover government spending, to promote stable economic growth, and to lessen inequalities in the distribution of income and wealth. They have also been used for non-fiscal reasons (e. g., cigarette consumption).

Taxes may be classified as direct or indirect. Direct taxes are those that the taxpayer cannot shift onto someone else. Direct taxes include income taxes, taxes on net worth, death duties. Indirect taxes those that can be shifted in whole or in part to someone other than the person legally responsible for payment. These include excise taxes, sales taxes, and value-added taxes.  

 

 

Вариант 1

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

Translate the text.

                                                Accounting.

Accounting is systematic development and analysis of information about the economic affairs of an organization.

The actual recording and summarizing of financial transactions is known as bookkeeping.

When the data thus produced are abstracted in reports (usually quarterly or annually) for the use of persons outside the organization, the process is called financial accounting.

Three reports are typically generated in financial accounting: the balance sheet, which summarizes the firm's assets and liabilities; the income statement, which reports the firm's gross proceeds, expenses, and profit or loss; and the statement of cash flow, which analyses the flow of cash into and out of the firm.

The creation of reports (usually monthly) for internal managerial use is called managerial accounting. Its aim is to provide managers with reliable information on the costs of operations and on standards with which those costs can be compared, to assist them in budgeting.

 

Сопоставьте:

1. Assets                                           a)Funds provided by outside lenders and other creditors

2. Liabilities                                    b)Financial statements

3. А set of accounting reports          c)The balance sheet                     

4. The end product of financial        d)Valuable rights owned by the company

accounting process  

 

3. Подготовьте небольшое сообщение (7-10 предложений) о бухгалтерском учете, опираясь на данные вопросы: Prepare a small talk (7-10 sentences) about accounting.

1. What is accounting?

2. How often are the data abstracted in reports?

3. Name the three reports in financial accounting.

4. What is the aim of managerial accounting?

 

Министерство образования и науки Самарской области

ГБПОУ «СТЭК»

Вариант 2

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

Task 1. Translate the text

Liabilities.

Liabilities refer to all the debts a company owes. They are categorized into current liabilities and long-term liabilities. Current liabilities reflect the amount of money the company owes and must pay within the coming year. Some of these debts include unpaid wages, bank and bond interest, legal fees, pension payments and taxes. Companies often need additional cash to operate. Thus, money is borrowed from banks and other lenders. In return, the borrower gives the lender a written promissory note, stating that borrowed funds will be returned within a year. These are called notes payable. Funds owed by the company for goods and services provided on credit by its suppliers are accounts payable. In addition there exist accruals, expenses that have been incurred, but because of an incomplete transaction, they have been recorded. It should be mentioned that if a corporation's tax bill high enough, the corporation must pay its taxes monthly. The tax payments may be based either on the estimate of the current year's taxes owned or the previous year's taxes.

Task 2. Answer the questions

1. What is included in current liabilities?

2. What are notes payable?

3. What are accounts payable?

4. What are accruals?

 

Task 3. Подготовьте небольшое сообщение (7-10 предложений) о пассивах, дав определение и приведя примеры текущих и долгосрочных обязательств.

Give the definition of liabilities and give examples of current and long-term liabilities.

 

   

  Министерство образования и науки Самарской области

ГБПОУ «СТЭК»

Вариант 3

ОГСЭ.04 Иностранный язык

Специальность 38.02.01 Экономика и бухгалтерский учет (по отраслям)

 

                                         

Task 1. Translate the text

Company ^‘s assets.

Assets represent all the physical goods and things of value "owned" by the company. Assets include finished and unfinished inventory, land, building, equipment, cash and money owed to the company from credit sales or money lent to others.

The size of the company is often measured in terms of its assets. Two major categories of assets are current assets and fixed assets (i. e. Property, plant and equipment).

Current assets include cash and items, which in the normal course of business will be converted into cash within an operating cycle. They generally consist of cash, marketable, securities, receivable, inventories and prepayments.

So, cash is the money that is on hand and the money on deposit in the bank.

While marketable securities represent investment of temporary cash surpluses in some form of short-term interest - earning instrument.

Fixed assets, in summary, are the investments in property, plant, and equipment. Most of the company's assets can be seen and touched. There are, however, some items of value that are not tangible, yet are customarily recorded as assets. For example, patents and franchise rights are intangible assets.