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Accounting and ComputersDate: 2015-10-07; view: 544. Accounting and Bookkeeping
Many people confuse accounting and bookkeeping and look on them as one and the same. In effect, they identify the whole with one of its parts. Actually, bookkeeping is only part of accounting, the record-making part. To keep books is to record transactions, and a bookkeeper is one who records transactions either on a computer or manually or with a bookkeeping machine. Accounting includes much more than this. The accountant should have the ability to design the accounting system; to analyze and record complex, nonroutine transactions; and to analyze and interpret accounting information.
Computers are used for many tasks in our modem society, including the processing of accounting data. A computer can accept and store accounting data, sort and rearrange it, perform arithmetic calculations on it, and prepare reports from the data. Furthermore, a computer can perform these functions very rapidly and with little or no human intervention. However, before a computer can do this, a set of detailed instructions must be prepared and entered into the computer to tell it how to process the data. The person who prepares these instructions must have a thorough understanding of accounting procedures and accounting principles. Thus, while computers have had a tremendous impact on accounting, they are not substitutes for understanding the fundamental concepts and principles of accounting.
I. Key terms:
II. Vocabulary notes:
III. Choose the proper words and answer the following questions:
1. How can you describe … accounting? a) recording b) business c) reporting 2. What do managers use the … for? a) reports b) accounting c) information 3. Who uses accounting information to make … to different questions? a) transactions b) reports c) answers 4. How have the control and planning features been …? a) accounted b) reported c) described 5. How do we understand financial …? a) accounting b) manage c) record 6. The essential … of the accounting discipline are the same, aren't they? a) features b) taxes c) debts
IV. Find Ukrainian equivalents for the following word combinations:
V. Find English equivalents for the following word combinations:
VI. Translate the following words and word combinations:
Сбір податків; професійні союзи; погодження про зарплату; користувачі бухгалтерської інформації; змінювати; фактично; записувати операції; вручну; складні, незвичайні операції; обробка облікової інформації; накопичувати облікову інформацію; людське втручання; набір детальних інструкцій; глибоке розуміння облікових процедур; замінники.
VII. Answer the following questions: 1. Characterizing accounting as “the language of business”, what has contributed to everincreasing complexities of this language? 2. Where is this language used? 3. What are sound decisions, based on reliable information, essential for? 4. What role does accounting play in our economic and social life? 5. What kind of nature are these data? 6. How can accounting be defined? 7. Prove that accounting is a service activity. 8. What is the information provided by? 9. Where are the reports used? 10. Name economic entities where the reports may be used. 11. What is the objective of financial statements? 12. What information do financial statements provide? 13. What questions must individuals begin asking about? 14. Where can the answers be found? 15. What kind of questions can be found in accounting reports? 16. What kind of questions can be asked by grantors of credit? 17. Where do governmental units use accounting information? 18. Where do labour unions use accounting information? 19. Who else uses accounting information? 20. How can you characterize book-keeping in comparing with accounting? 21. What does a book-keeper perform? 22. What are the functions of an accountant? 23. How can computers be used in accounting? 24. How can computers perform their functions? 25. What must be prepared before a computer can perform its functions? 26. What must the person, who prepares the instruction for a computer, have? 27. Having a tremendous impact on accounting, the computers are not substitutes for understanding the fundamental concepts and principles of accounting, aren't they?
VIII. Memorize the following terms and their Ukrainian equivalents:
IX. Fill in the blanks with proper propositions or adverbs wherever necessary:
1. Accounting is often characterized ______ “the language _____ business”. 2. The acceleration _____ change _____ our complex society has contributed _____ everincreasing complexities _____ this language. 3. Accounting is used _____ recording and interpreting _____ economic data _____ individuals, businesses, governments and other entities. 4. Accounting is concerned _____ recording, sorting and summarizing data related _____ business transactions and events. 5. The information, essentially financial _____ nature, is primarily provided _____ reports referred _____ as financial statements and is intended to be useful _____ making economic decisions. 6. The objective of financial statements is to communicate information that is useful _____ investors, creditors, and other users. 7. In making decisions _____ an economic entity, individuals generally must begin _____ asking questions _____ the entity. 8. Computers are used _____ many tasks _____ our society, including the processing _____ accounting data. 9. A computer can accept and store accounting data: sort and rearrange it, perform arithmetic calculations _____ it, and prepare reports _____ the data. 10. The person who prepares the instructions must have a thorough understanding _____ accounting procedures and accounting principles.
X. Substitute the underlined words for their synonyms given below:
sound; identify; wide; confuse; actually; concise; reliable; scarce; communicating; essential; in effect; to keep; broadly; to form; information; manually; to record.
1. Because of the large range of accounting activity, there is no accurate description of accounting. 2. Right decisions, based on safe information, are important for the efficient allocation and use of scanty resources. 3. Accounting has been definedwidely as the process of identifying, measuring and passing economic information. 4. Many people mix accounting and book-keeping and look on them as one and the same. In fact, they identify the whole with one of its parts. 5. Indeed, bookkeeping is only part of accounting, the record-making part. 6. To retain books is to record transactions either on a computer or by hand or with a book-keeping machine. 7. The accountant should have the ability to create the accounting system: to analyze, and write complex, nonroutine transactions, and to analyze and interpret accounting data. XI. Fill in the blanks from the words below. Translate the sentences into Ukrainian:
manually; accountant; tasks; business (2); accounting (2); entity (2); resources (2); information (3); activity; reliable; taxes; design; concise; transactions (2). 1. In making decisions about an economic _____, individuals generally must begin by asking questions about the _____. 2. If the entity is a ____, the managers of the _____ would look to accounting for answers to questions such as: What are the _____ of business? What debts does it owe? etc. 3. The function of _____ is to provide quantitative _____ about economic entities. 4. Because of the wide range of accounting _____, there is no _____ descripting of _____. 5. Sound decisions, based on _____ information are essential for the efficient distribution and use of scarce _____. 6. Governmental units use accounting _____ in regulating businesses and collecting _____. 7. Labour unions use accounting _____ in negotiating working conditions and _____ agreements. 8. To keep books is to record _____, and a book-keeper is one who records _____ either on a computer or _____ or with a bookkeeping machine. 9. The _____ should have the ability to _____ the accounting system. 10. Computers are used for many _____ in our modern society, including the _____ of accounting data.
XII. Analyze the following sentences with passive construction and translate them into Ukrainian:
1. Accounting is often characterized as the “language of business”, which isused in recording and interpreting basic economic data. 2. Accounting is concerned with recording, sorting and summarizing data, related to business transactions and events. 3. Accounting has been defined as the process of identifying, measuring, and communicating economic information. 4. The information is primarily provided by reports and is intended to be useful in making economic decisions. 5. The answers to many questions about the entity are found in accounting reports. 6. Is too little or too much merchandise being kept? 7. Are amounts owed by customers being collected rapidly? 8. Should the plant be expanded? 9. Should a new product be introduced? 10. Should selling prices be increased? 11. Computers are used for many tasks in our modern society. 12. Before a computer can perform its function, a set of detailed instructions must be prepared and entered into the computer to tell it how to process the data.
XIII. Translate the following text into English:
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