Разговорный бизнес курс. Митрофанова И.В. - 50 стр.

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auditors' fees, and administration and selling costs must be deducted to produce the
net profit (or loss).
The Balance Sheet is a summarised statement showing the amount of funds employed
in the business and the sources from which these funds are derived. On one side is
listed the capital employed, which usually consists of the issued share capital plus
reserves and retained earnings. You will remember from Unit 13 that the share capital
of Harper & Grant consisted of five thousand I shares, with a total market value of
five hundred thousand pounds. In other words, there are four hundred and ninety-five
thousand pounds in reserves and retained earnings. This starts with the total cost of its
fixed assets (land, buildings and machinery) and any trade investments (interests in
other companies), followed by a breakdown of net current assets (that is, cash and
stocks, plus what the firm is owed by its customers, less its liabilities, or what it owes
to others). The Wentworth
Mattress Company owns shares in Harper & Grant, so this would be shown as a trade
investment in Wentworth's Balance Sheet, The totals on the two sides of the Balance
Sheet must agree; that is, come to the same figure. The total dividend to be paid for
the year is a current liability, and is therefore an item in the compilation of net current
assets.
One of the most difficult jobs in preparing accounts is stock valuation; that is, putting
a value on all goods in the hands of the company. It may seem easy, as goods could
be counted, and then the price paid for them could be checked against the suppliers'
invoices. But the value of commodities (e.g. copper) often fluctuates. Furthermore,
much of a company's stock will consist of work in progress or finished stock, and the
volume of all stock is changing daily, if not hourly. The rule for stock valuation is
that it should be taken at cost price or market price, whichever is the lower. So far we
have seen only one case of dishonesty in Harper & Grant, when a cleric in the Sales
Department took some cash left lying on a desk. Unfortunately, there is always a
temptation to people handling money all the time to attempt, in a weak moment, a
fiddle (a slang term for a small cheat or dishonest action) which they feel will not be
noticed. If they get away with it, are successful, they may well be tempted to do it
again, or make a regular practice of it, perhaps on a larger scale.
(William Buckhurst goes into the Accounts Office to speak to the chief
auditor.)
WILLIAM BUCKHURST: Well, Mr. Brent, you've had three hours at those books.
What about some lunch?
BRENT: That would be very welcome.
BUCKHURST: No problems?
BRENT: Er... yes, Mr. Buckhurst, One or two small things. Would you like to go
into them now, or after lunch?
BUCKHURST: Well, perhaps we might do it now, so that I can try and get the
information straight away.
BRENT: The first is this figure here in the stock valuation. This figure for paint. I
suppose you have this paint in stock. It's listed as goods paid for, but: I can find no

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