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Read and memorize the following words and word combinations:
Accounting – бухгалтерский учет
Income statement – отчет о доходах
Balance sheet – балансовый отчет
Ratio analysis – анализ коэффициентов
Return on Investment Ratio – коэффициент возвращения
инвестиций
Assets and liabilities – актив и пассив
Read and translate the Text.
ACCOUNTING
Accounting shows a financial picture of the firm. An accounting department records and measures the activity of a business. It reports on the effects of the transactions on the firm’s financial condition. Accounting records give a very important data. It is used by management, stockholders, creditors, independent analysts, banks and government.
Most businesses prepare regularly the two types of records. That is the income statement and balance sheet. These statements show how money was received and spent by the company.
One major tool for the analysis of accounting records is ratio analysis. A ratio analysis is the relationship of two figures. In finance we operate with three main categories of ratios. One ratio deals with profitability, for example, the Return on Investment Ratio. It is used as a measure of a firm’s operating efficiency.
The second set of ratios deals with assets and liabilities. It helps a company to evaluate its current financial position. The third set of ratios deals with the overall financial structure of the company. It analyses the value of the ownership of the firm.
EXERCISES
1. Give Russian equivalents to the following:
a financial picture of the firm, an accounting department, a transaction, important data, stockholders, income statement, balance sheet, a major tool, ratio analysis, to deal with, profitability, assets and liabilities, current financial position.
2. Agree or disagree with the statements:
1. At the end of the fiscal year a business must check out the assets and liabilities.
2. It There is no difference between gross salary and net salary.
3. An employer should hire an experienced accountant for preparing a financial statement.
4. The accounting department provided data for the management.
5. The board o directors never checks out assets and liabilities an net worth.
6. Governmental corporations can not issue stock certificates.
3. Translate from Russian into English:
1. Бухгалтерский учет представляет данные для кредиторов и вкладчиков.
2. Они готовят отчет о доходах и балансовый отчет в конце финансового года.
3. Мы определяем эффективность производства с помощью анализа коэффициентов.
4. Недвижимость является собственностью корпорации.
5. Мы проверим актив и пассив и определим стоимость имущества.
6. Мы платим большие налоги.
4. Answer some questions on the Text:
1. What is the purpose of accounting?
2. Who uses the data provided by accounting firms?
3. What are the two types of records which most businesses prepare?
4. What is the purpose of the ratio analysis?
5. What categories of ratios in finance do you know?
Источник: Громовая И.И., Исаева Д.С. "Английский язык: Учебные задания по профессионально-ориентированному чтению"
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