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Accounting terminology
1. Accounting — the process of systematically collecting, analyzing, and reporting financial information.
2. Auditing — checking the accuracy of records.
3. Audit — an accountant’s examination of a company’s financial records to determine if it used proper procedures to prepare its financial reports.
4. Financial accounting — a «scorekeeping» process that is meant to keep several interested groups (inside and outside the firm) informed of the financial condition of the firm.
5. Managerial accounting — serves the firm’s managers by calling attention to problems and aiding them in planning, decision making, and controlling the firm’s operations.
6. Product cost accounting — an accounting system that allocates costs to the various products made by a firm.
7. Responsibility accounting — an accounting system for classifying costs or charging them to certain responsibility centers so as to allow the performance of such centers (and their managers) to be evaluated.
8. Bookkeeping — the accurate day-to-day recording of all the financial transactions that occur in an organization; the initial step in the accounting process.
9. Accounting cycle — the sequence of accepted procedures that accountants must follow over a specific period of time.
10. Account — an individual written record for specific assets, liabilities, owners’ equity, revenues, and expenses.
11. Transaction — a financially significant event that either increases or decreases the value of an account.
12. Debit — in bookkeeping, any transaction that increases assets or decreases liabilities or owner’s equity; always entered in the left column.
13. Credit — in bookkeeping, any transaction that decreases assets or increases liabilities or owner’s equity; always entered in the right column.
14. Basic accounting equation — a mathematical statement of the balance between what a firm owns, what it owes, and what its owners’ equity is.
15. Profit equation — profits equal revenue minus expenses.
16. Owners’ equity — the difference between a firm’s assets and
its liabilities; what would be left over for the firm’s owners if its assets were used to pay off its liabilities.
17. Accrual — the principle in accounting that means that a firm charges off expenses only in the accounting period (usually the calendar year) and not necessarily in the period in which the actual cash payment was made.
18. Double-entry bookkeeping — a system in which each financial transaction is recorded as two separate accounting entries to maintain the balance shown in the accounting equation.
19. General journal — a book of original entry in which typical transactions are recorded in order of their occurrence.
20. General ledger — the book in which all the accounts of a business using double-entry bookkeeping are contained.
21. Posting — the process of transferring journal entries to the general ledger.
22. Trial balance — a summary of the balances of all general ledger accounts at the end of the accounting period.
23. Balance sheet (statement of financial position) — a summary of a firm’s assets, liabilities, and owners’ equity accounts at a particular time, showing the various money amounts that enter into accounting equation.
24. Accounting software package — a set of computer programs designed for solving various problems of accounting.
25. Certified public accountant (chartered accountant in BrE) — an accountant who has fulfilled the legal requirements of his or her state of knowledge in accounting theory, practice, auditing, and law and who is licensed to sign financial reports.
26. Capital stock — the original investment of the stockholderowners.
27. Revenues — are the funds received by a business, mainly from the sales of goods and services.
28. Gross profit — the difference between net sales and cost of goods sold.
29. Sales forecast — a prediction of what sales will be over a certain period of time.
30. Profit (net income, earnings) — the difference between total revenues and total expenses.
31. Retained earnings (surplus) — the amount that the firm has plowed back from profits over the years but has not paid out in dividends.
32. Return on sales (net profit margin) — a form of profitability ratio calculated as net income divided by net sales.
33. Profitability - the possibility and ability of a firm to produce a profit.
34. Productivity — the average level of output per unit of time per worker.
35. Efficiency — maximum output of a good from minimum resources used in production.
Задание 1. Дайте англоязычные эквиваленты следующим русскоязычным терминам:
1) производительность; 2) ревизование; 3) доходность; 4) аудит; 5) нераспределенная прибыль; 6) бухгалтерский учет; 7) бухгалтерское дело; 8) прогноз сбыта; 9) периодичность учета; 10) валовая прибыль; 11) счет; 12) доходные статьи; 13) торговая операция; 14) акционерный капитал; 15) дебет; 16) бухгалтерский баланс; 17) кредит; 18) оприходование; 19) пробный баланс.
Задание 2. Прочитайте определения и укажите термины, соответствующие им.
1. The process of measuring, interpreting, and recording data that reflect the financial condition of a firm.
2. Accounting that serves a firm’s managers by calling attention to problems and helping the managers in the areas of planning, decision making, and controlling the firm’s operations.
3. Checking the accuracy of records.
4. The amount of a firm’s assets minus the amount of its liabilities.
5. A financial statement that shows what a firm owns, what it owes, and what the owners’ equity is worth at a given point in time.
6. The amount of cash or accounts receivable a firm receives in payment from others over a period of time.
7. The profits the firm has plowed back into the firm.
8. A register of financial value.
9. A financially significant event that raises or lowers the balances in accounts.
10. A bookkeeping system in which every transaction changes the balances in at least two accounts at the same time.
Задание 3. Заполните пропуски в тексте соответствующими терминами:
business accounting transactions
accountants system financial
information records
_____ is commonly defined as a comprehensive _____ for collecting, analyzing, and communicating financial _____. It is the accountant’s responsibility to keep ____ of _____ transactions such as taxes, sales, incomes, and expenses. Even more important is the accountant’s analysis of how those _____ will affect a particular business. By sorting, analyzing, classifying, and recording thousands of transactions, _____ can determine how well a _____ is being managed and how financially strong it is.
Источник: Э.В. Искренко, О.В. Гайкова, В.И. Торгашов "BASIC ECONOMIC TERMINOLOGY" Учебно-методические рекомендации по курсу экономической терминологии на английском языке (Часть 2)
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