Английский язык: Сборник текстов. Гурская Т.А. - 20 стр.

earning of specific items of income. The process is commonly referred to as matching
of expenses with revenues.
     Gains and losses
    Gains are increases in equity that result from transactions that are incidental to the
enterprise's activities and from other transactions, events or circumstances affecting
the enterprise during a period, except those that result in revenues or equity contribu-
tions.
    Losses are decreases in equity that result from transactions that are incidental to
the enterprise's activities and from other transactions, events or circumstances affect-
ing the enterprise during a period, except those that result in expenses or distributions
of equity.
    Gains are normally recognized when realized. Losses are normally recognized
when realized or when it becomes evident that there is an impairment in the value of
the assets, or an increase in the liabilities, to which the losses relate.

      Exercise 12.
     Read the text quickly and explain what "green accounting" is:

                                 C. Green Accounting
    "Green accounting" is accounting for the environment. It is a major issue of public
concern currently being addressed by the Intergovernmental Working Group of Ex-
perts on International Standards of Accounting and Reporting. In its first report, pre-
sented in March 1990, ISAR considered some preliminary research of the nature, ben-
efits and costs of environmental disclosures together with some tentative
recommendations. In its second report, a year later, ISAR reviewed the response of
governments and industries to its initiative in this area. On the basis of the results
ISAR made some recommendations concerning monitoring information disclosures
and accounting practices in this area.
    Six major global industries (chemicals, forestry products, metals, motors, petro-
leum and petrochemicals, and pharmaceuticals) have been chosen as the basis of this
survey. The grounds for this selection were that such industries are particularly likely
to have environmental information to report as they are industries that tend to have
a significant impact on the environment because of the types of raw materials con-
sumed, the production processes employed, or the nature of the end product.
    The industries were asked to disclose information relevant to the following major
areas of concern:
    – policies and programmes about environment,
    – major environmental improvements achieved,
    – emission levels,
    – impact on governmental legislation,
    – legal proceedings,
    – financial impacts.
    The survey revealed that there is a high level of interest in environmental matters.
86 % of the surveyed enterprises provided at least some information. Besides, the lev-
el of disclosure has increased greatly in comparison with the situation a few years
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