III. Comprehension

Date: 2015-10-07; view: 410.

Ex.4.Answer the questions using information from the text:

1. Could you define accounting to a friend so that he or she would clearly understand what is involved?

2. How can accounting be divided?

3. What is the purpose of managerial accounting?

4. What does managerial accounting deal with?

5. What questions do managerial accounting reports answer?

6. Can you explain the difference between managerial and financial accounting?

7. What questions do financial reports answer?

Ex.5.Say whether these sentences are true or false. If they are false say why. Add the phrases:

1. I agree to it

2. I think so too

3. Exactly so

4. I can't agree to it

5. I don't think so

6. Just on the contrary

7. As far as I know

1. Management accountants give management the information it needs to make wise decisions.

2. The purpose of financial accounting is to check and examine accounting records and financial statements.

3. Computers enable company owners to follow the progress of their companies.

4. An annual financial report is a statement of the financial condition and progress of the organization.

5. Accountants help in profit planning, budgeting and marketing.

6. A company will stay in business if it has good records, prepares proper financial reports and complies with tax laws.

7. Many business failures are caused by lack of cash at the end of the year to pay their bills.