Tiếng anh chuyên ngành kinh tế, Exercises of Business English

Download Tiếng anh chuyên ngành kinh tế and more Exercises Business English in PDF only on Docsity! Vocabulary + % % Which basic accounting words are defined below? 1. Income: all the money received from business activities during a given period 2. Expenditure: all the money that a business spends on goods or services during a given period 3. Budget: a financial operating plan showing expected income and expenditure 4. Asset: anything owned by a business - cash, buildings, machines, equipment,etc 5. Liabilities: all the Money that a company will have to pay to someone else in the future, including debts, taxes and interest payments 6. Debit: an entry in an account, recording a payment made 7. Credit: an entry in an account, recording a payment received 8. Intangible: adjective describing something without a material existence, which you can’t touch 9. Accrued: adjective describing a liability which has been incurred but not yet invoiced to the company 10. Deferred: delayed or postphoned until a later time How well do you know the diferent types of accounting and the diferent branches of the acounting (or accountancy) profession? Match the terms with the definitions in the box below 1. Cost accounting: calculating all the expenses involved in producing something, including materials, labour, and all other expenses 2. Tax accounting: calculating how much an individuals or a company will have to pay to the local and national government (and trying to reduce this to a minimun) 3. Auditing: inspecting and reporting an accounts and financial records 4. Accounting: preparing financial statements showing income and expenditure, assets and liabilities 5. Managerial or management accounting: providing information that will allow a business to make decision, plan future operations and develop business strategies 6. ‘Creative accounting’: using all available accounting procedures and tricks to diguise the true financial position of a company 7. Bookkeeping: writing down the details of transasctions (debits and credits) Match up the names of the financial statements with the definitions below 1. Balance sheet (or Statement of financial position): a statement showing the value of a business’s assets, its liabilities, and its capital or shareholders’ equity (Money the business has that belongs to its owners) 2. Cash flow statement: a statement giving details of money coming into and leaving the business, divided into day-to-day operations, investing and financing Income statement (or statement of income, profit and loss statement, or profit and loss account): a statement showing the diference between the revenues and expenses of a period “ Make common word combinations with the verbs and nouns below 1. AuRWN Calculate liabilities / taxes Keep records Pay liabilities / taxes Receive income Record expenditure / income / transactions Value assets / liabilities Reading 1: Google Inc. Balance sheet Which lines on the balance sheet do the definitions below it refer to? % Oo 1. Shareholder’s equity: all the Money belonging to the company’s owners 2. Intangibles: assets whose value can only be turned into cash with difficulty CEng (e.g. reputation, patents, trade marks, etc.) . Additional Paid-In Cash: capital that shareholders have contributed to the company above the nominal or par value of the stock Accrued expenses: expenses such as wages, taxes and interest that have not yet been paid at the date of the balance sheet Total receivables: Money owed by customers for goods or services purchased on credit Accounts payable: Money owed to suppliers for purchases made on credit Prepaid earnings: Money paid in advance for goods and services Retained earnings: profits that have not been distributed to shareholders . Property / Plant / Equipment: tangible assets such as offices, machines, etc 10. Goodwill: the diference between the purchase price of acquired companies and their net tangible assets 11. Total liabilities: the total amount of Money owed that the company will have to pay out Which two figures have to be the same (to balance), by a definition? Total assets and total liabilities & shareholders’ equity How much money had the compay already paid in advance for goods and services, on the date of the 2008 balance sheet? $1,404.11 million (the Paid expenses) company Deferred Delayed, postphined | Hoan They deferred the decision until February Bookkeeping writing down the S6 sach details of ké toan transasctions (debits and credits) Inspect Look at someone or Quan sat | They were inspecting something closely to my documents discover any shortcomings Disguise Give a diferent Cai She told him they appeareance to concel | trang were policewomen in identity disguise Balance sheet showing the value of a | Bang Balance sheet, Cash business’s assets, its can déi__| flow statement, liabilities, and its kétodén | Income statement are capital or the three important shareholders’ equity financial statements Cash flow giving details of Bao cao statement money coming into luu and leaving the chuyén business, divided into | tién té day-to-day operations, investing and financing Income statement showing the diference | Bao cdo between the revenues | thu nhap and expenses of a period Expense The cost required for | Chiphi | We had ordered suits something at great expense Shareholder An owner of share in | C6 d6ng | He is a shareholder of a company many companies Equity The value of the Vén He owns 62% of the shares issued by a group’s equity company Reputation The beliefs generally | Danh Her knowledge of her held about someone or | tiéng subject earned her a something reputation as an expert Patent A government Bang She took out a patent authority or license sang ché | for an improved conferring a right or steam hammer title for a set period Depreciation A reduction in the Khau Provision should be value of an asset hao made for depreciation of fixed assets Cash from The Money from Tién tir | There are three operating activities operating activities hoat catogories of Cash dong flow statement: Cash kinh from operating doanh activities, Cash from Cash from The Money from Tién tir | investing activities, investing activities investing activities hoat Cash from financing dong activities dau tr Cash from The mony from Tién tir financing activities financing activities hoat dong tai chinh Amortization The action or process | Khau 75% of the mortgages of gradually writing hao have an amortization off the initial cost of of 25 years or less an assets Dividend Asum of Money paid | Cé titc regularly by a company to its shareholders out of its profits Proceed Begin or continue a Tiép tuc | We can proceed with course of action our investigation Receipt The action of Bién lai | After paying the receiving something or the fact of its being received tuition fees, I received a receipt