Chartered accountant бухгалтер, бухгалтер-эксперт, аудитор

(certified public accountant, Am.)

Book бухгалтерская книга

Entry бухгалтерская запись, проводка

To post переносить в главную бухгалтерскую книгу

Ledger главная книга

Earnings доходы

Trial balance пробный баланс

Complete according to the text:

1. Bookkeepers deal in …
2. Bookkeepers record …
3. The Ledger shows …
4. Trial balance are drawn up by … every …
5. The accountant is to …
6. Certified accountants in England are called ….
7. Certified accountants in the USA are called ….
8. Junior employees …
9. The chief accounting officer of a large company is …
10. Controllers are … and they …
11. This position is very close to …

AUDITOR AND THEIR REPORT

Auditors are usually independent certified accountants who review the financial record of a company. These reviews are called audits. They are usually performed at fixed intervals – quarterly, semiannually or annually. Auditors are employed either regularly or on a part-time basis. Some large companies maintain a continuous internal audit by their own accounting departments. These auditors are called internal auditors.

Not so many years ago the presence of an auditor suggested that a company was having financial difficulties or that irregularities had been discovered in the records. Currently, however, outside audits are a normal and regular part of business practice.

Auditors see that current transactions are recorded promptly and completely. Their duty is to reduce the possibility of misappropriation, to identify mistakes or detect fraudulent transactions. Then they are usually requested to propose solutions for these problems.

Thus auditors review financial records and report to the management on the current state of the company’s fiscal affairs in the form of Auditor’s Report or Auditor’s Opinion.

Notes to the text:

Irregularity нарушение правил, неправильность

Misappropriation незаконное присвоение

Fraudulent обманный мошеннический

Complete according to the text:

1. Auditors are….
2. These reviews are called…
3. Auditors are employed …
4. Currently outside audits are …
5. Auditor’s duty is …
6. Thus, auditors review …

ADDITIONAL MATERIAL

Семестр

Small Business

The greatest determinant of the success of your business is you, your character and skills. This you must believe if your busi­ness is to have any chance of prospering. The type of a person who blames external factors for failure and believes that his own de­cisions have little impact on the course of events is not suited to building a business. The conventional image of an entrepre­neur is of a strong-minded, positive risk-taker with a sense of destiny, seizing the ever-present opportunities.

Motives for starting a business may range from achieving monetary gain for enhancing status to establishing a comforta­ble working environment. Generally, when people engage in manufacturing or trade, they do so in order to gain wealth and/or power, but their activity is good for all of society. The more goods they make or trade, the more goods people will have. The more people who manufacture and trade, the greater the compe­tition is. Competition among manufacturers and merchants helps all people by providing even more goods and probably at lower prices. This activity creates jobs and spreads wealth.

When it comes to establishing a business in theory, a well-run business should succeed in any market. In practice, how­ever, you can make success more likely by choosing your product and market carefully. Running your own business doesn't mean that you have to be an expert at everything; but you do have to appre­ciate the importance of likely causes of failure so that you can control your business properly. Most of these causes of failure are a result of lack of skills. Try to require an appreciation of the crucial factors. Watch out for these factors by seeking training or advice from others in these areas in which you are weak.

The conventional view is that your business is more likely to be successful if it fulfils these criteria:

• The people involved realistically assess their strengths and weaknesses and try to overcome short-comings (This is the most important criterion).

• The idea and the market for it has necessary growth potential.

• Financing is sufficient to cover the short-fall of working capital especially in the early days.

If you cannot fulfill these criteria at the moment, do not accept defeat; you may be able to in the future. Most of the processes can be learnt and acquired if your personality allows for real­istic self-assessment.