1. TASK: Insert the appropriate word in the text below:
Account - сhart of accounts – complex – division – identify
Ledger – likely – outline – suit – tailor - whereas
Chart of Accounts
A ______________ is a listing of the names of the accounts that a company has __________ and made available for recording transactions in its general __________. A company has the flexibility to __________its chart of accounts to best __________ its needs, including adding accounts as needed.
Within the categories of operating revenues and operating expenses, accounts might be further organized by business function (such as producing, selling, administrative, financing) and/or by company __________, product lines, etc.
A company's organization chart can serve as the __________ for its accounting chart of accounts. For example, if a company divides its business into ten departments (production, marketing, human resources, etc.), each department will__________be accountable for its own expenses (salaries, supplies, phone, etc.). Each department will have its own phone expense __________, its own salaries expense, etc.
A chart of accounts will likely be as large and as __________ as the company itself. An international corporation with several divisions may need thousands of accounts, __________ a small local retailer may need as few as one hundred accounts.
2. CHECK YOUR SPEAKING
|
account |
[ əˈkaʊnt ] |
рахунок |
|
сhart of accounts |
[ hɑːt ] [ əˈkaʊnts ] |
план рахунків |
|
complex |
[ ˈkɒmpleks ] |
складний |
|
division |
[ dɪˈvɪʒn ] |
відділ, підрозділ |
|
identify |
[ aɪˈdentɪfaɪ ] |
визначити |
|
ledger |
[ ˈledʒ.ər ] |
журнал операцій |
|
likely |
[ ˈlaɪkli ] |
ймовірно |
|
outline |
[ ˈaʊtlaɪn ] |
визначити |
|
suit |
[ suːt ] |
підходити |
|
tailor |
[ ˈteɪ.lər ] |
пристосовувати |
|
whereas |
[ ˌweərˈæz ] |
в той час як |
3. SEE CORRECT ANSWER
Chart of Accounts
A chart of accounts is a listing of the names of the accounts that a company has identified and made available for recording transactions in its general ledger. A company has the flexibility to tailor its chart of accounts to best suit its needs, including adding accounts as needed.
Within the categories of operating revenues and operating expenses, accounts might be further organized by business function (such as producing, selling, administrative, financing) and/or by company divisions, product lines, etc.
A company's organization chart can serve as the outline for its accounting chart of accounts. For example, if a company divides its business into ten departments (production, marketing, human resources, etc.), each department will likely be accountable for its own expenses (salaries, supplies, phone, etc.). Each department will have its own phone expense account, its own salaries expense, etc.
A chart of accounts will likely be as large and as complex as the company itself. An international corporation with several divisions may need thousands of accounts, whereas a small local retailer may need as few as one hundred accounts.
Цей та багато інших цікавих матеріалів Ви знайдете
в підручнику “Practical Financial English”
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