Английский язык: Сборник текстов. Гурская Т.А. - 9 стр.

   c) Think of the nouns that are most often used with the following verbs:
 to measure, to ensure, to communicate, to prepare, to debit, to credit, to draw up,
to disclose, to report.
   d) Match the verbs from (1) with the nouns from (2) below:
      1) to meet                2)   needs
           to ensure                 provision of information
           to harmonize              standards
           to develop                performance
           to assess                 service
           to provide                license
           to grant                  accounting standards

     Exercise 2.
   a) Supply the articles where necessary.
   b) Write down 3-5 questions on the text.
   c) Explain what information must be disclosed in the accounting records. Say what
you have learned from the text about the UK rules for the preparation of accounting
records.

                                  Accounting Records

    Every company must keep accounting records sufficient:
    - to show and explain ... company's transactions;
    - to disclose ... financial position of the company at any time with reasonable
accuracy;
    - to enable the directors to ensure that... annual accounts comply with ... statutory
requirements.
    The records may contain entries of daily receipts and payments,... record of assets
and liabilities and, where the business involves dealing in goods, stocktaking records
and details of goods bought and sold.
    The directors of every company have a duty to prepare annual accounts. The ac-
counts must be made up to .. .company's accounting date (its financial year-end)
and in accordance with the specified accounting principles. In ... UK, for example,
they include ... following:
    - The company is presumed to be ... going concern.
    - Accounting policies are applied consistently from ... year to year.
    - The amount of any item is determined on ... prudent basis.
    - The accounts are prepared on ... accrual basis.
    Details of any departure from these principles, the reasons for it, and its effect
must be explained in ... note to the accounts.
    In ... UK company accounts are almost invariably prepared using the historical
cost accounting convention, with or without modification to reflect changes in ... val-
ue of certain assets. However, ... Company Act 1985 provides alternative accounting
rules which permit company to recognize ... full impact of inflation and changing
prices in their accounts.
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