Английский язык: Сборник текстов. Гурская Т.А. - 17 стр.

    Exercise 8.
   Give extensive answers to these discussion questions:
   1. What is the role of accountancy in a free-market economy?
   2. What is managerial accounting?
   3. Who needs the information provided in financial statements?
   4. How are accountants classified in Russia?
   5. What services do public accountants offer their clients?
   6. What is done in this country to create a strong and respected professional
body of accountants?
   7. What accounting system is most widely practised in the world?
   8. In what way does cash basis accounting differ from accounting on accrual basis?
   9. What do you think of the problem of harmonizing national accounting standards?

     Exercise 9.
   Write a short paragraph, explaining:
   a) What accounting is and what role it plays in a free-market economy.
   b) What sort of statement the balance sheet is.
   c) What sort of statement the income statement is.
   d) The difference between the two branches of accounting.
   e) Accounting principles.
   f) The functions of the Chart of Accounts.

      Exercise 10
    Prepare a short talk on the following:
    a) The work of public accountants, private accountants, and accountants who
work for units of the government and non-for-profit firms firms.
    b) Why do all firms need both fixed and working capital?
    c) How is Russian accounting developing? Do any of the Big Eight have offices
in Russia?
    d) What are your own sources of funds? Earnings from employment? Contribu-
tions from parents or others?
    e) If you are a student, describe the fixed capital and working capital of your uni-
versity. List some fixed assets that it owns.

    Exercise 11.
    A company needs the chief accountant, who will:
    – maintain accounts payable ledger;
    – supervise banking and cash activities, supply contracts, reconciliation of bank
statements;
    – deal with local tax authorities;
    – work directly with the CFO (chief financial officer – старшее должностное
лицо по финансовым вопросам, главный сотрудник по финансовым вопросам);
    – supervise the accounting department;
    – cooperate with internal and external auditors.
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