Bookkeeping

Level 1

Task 1 Short Quiz

1. A bookkeeper should divide all the firm’s paperwork into:

1) methods,

2) types,

3) kinds,

4) categories.

2. To collect all the information the bookkeeper will have several….

1) files of papers,

2) boxes of papers,

3) piles of papers,

4) bags of papers.

3. The bookkeeper must record the data from…..

1) original transaction documents,

2) natural transfer papers,

3) artificial transatlantic docks,

4) original transaction books.

4. All data must be recorded into…:

1) magazine,

2) book,

3) journal,

4) notebook.

5. The bookkeeper is busy …..of account of a business.

1) watching a film,

2) keeping a book,

3) holding journal,

4) writing a letter.

Task 2 True or False

1. The bookkeeper should divide papers into categories to ease his work.

2. If a bookkeeper doesn’t organize his work he will sink in papers.

3. All data from the original transaction documents must be recorded in the magazine.

4. The journal is a book published monthly.

5. Bookkeeping information is unmanageable.

6. A bookkeeper is busy keeping a magazine.

Level 2

Task 1 Insert missed words.

1. If you collected all this information, you would have several ……...

2. Тhe bookkeeper must begin to record the data from the original transaction documents into the record books called ………...

3. A journal is where the day`s ………. are kept.

4. A journal is a book where day’s ….are kept.

5. The term journal comes from French word….

6. A bookkeeper is busy for a profit and …account.

Task 2 Find equivalents in the text:

1. Коносамент

2. Платежный документ

3. Расходный документ

4. Подоходный налог

5. Неуправляемый

6. Сделка.

BOOKKEEPING

Bookkeeping is essential accounting tool. A small business or company may employ only one bookkeeper who records all of financial data by hand. Large organizations may employ many bookkeepers who use electronic or mechanic equipment for a large part of their work. Each organization has own bookkeeping requirements, but all systems operate on the same basic principals. The bookkeepers themselves must be accurate, be good in math, and meticulous; that is, they must be careful to record each detail in its proper place.

The two basic system of bookkeeping are double-entry and single-entry. The double-entry method was perfected by the merchants of Venice during the fifteenth century and is still used today. The basic principle system of doubly-entry bookkeeping is that every transaction has a twofold effect. In other words, the value is received and a value is yielded or parted with. Both effects, which are equal in amount, must be entered completely in the bookkeeping records.

An account is a record of the financial transactions that concern one item or a group of similar items. The account includes the categories of financial data of each area of interest during of a specific period: the value at the beginning of a period, changes in value during the same period, and the value at the end of the period. The broad area of interest can be labeled assets, liabilities, and net worth. Income and expense accounts are totaled at regular intervals, and the resulting profit or loss is posted to a capital account.