Bookkeeping

Date: 2015-10-07; view: 556.

Text C

X. Comprehension

IX. Oral Practice

VIII. Reading

Ex.14. Skim the text B again and match the list of titles to the correct paragraph:

1. Auditing Functions;

2. Tax Services;

3. Small Business Services;

4. CPAs;

5. Management Advisory Services;

6. Fields of Audits' Specialization;

7. Auditing

Ex.15.Discuss the following:

1. What are the principal areas of specialization of accounting firms?

2. How does public accountant differ from management accountant?

3. Describe in general terms the requirements of the four major activities of CPAs.

4. Agree or disagree that the auditor must be a suitably qualified professional accountant. Prove your point of view.

5. Prove that auditor mustn't be an officer of a company.

Ex.16. Look through these words trying to remember them:

insight – розуміння

to interpret – пояснювати значення чого-небудь

sales slip – торгова квитанція

purchasing documents – документи про продаж

shipping documents – завантажувальні документи

payroll record – платіжна відомість

ledger – гросбух

Then listen to the text “Bookkeeping”

Bookkeeping involves the recording of business transactions. It is a rather mechanical process and does not demand the financial training and insights of accounting. Bookkeeping is an important part of accounting, but accounting goes far beyond the mere recording of data. Accountants classify and summarize the data provided by bookkeepers. They interpret the data and report them to management. They also suggest strategies for improving the financial condition and progress of the firm. Accountants are especially valuable for income tax preparation and financial analysis. If you were a bookkeeper, the first task you would perform would be to divide all of the firm's paperwork into meaningful categories. These categories would probably include the following:

· Sales documents (sales slips, cash register receipts and invoices)

· Purchasing documents

· Payroll records

· Bank documents (checks, deposit slips)

· Various expense documents

Then it is necessary for the bookkeeper to begin recording the data from the original transaction documents into record books called journals. Journals are the books where accounting data are first entered. Some of these journals are also called ledgers.

Nowadays computers can greatly help both accountants and bookkeepers in doing their job properly.

Ex.17.Answer the questions:

1. What do bookkeepers do ?

2. What do accountants do?

3. What is the difference between a bookkeeper and an accountant?

4. Which of them needs more training and why?

5. Can an accountant do the job of a bookkeeper and vice versa?

6. Where do bookkeepers record the data from original transaction documents?

7. What achievements of science and engineering can help both bookkeepers and accountants in doing their job?