Bookkeeping and bookkeepers

Every organization needs some way of keeping accounts – that is, of recording what it spends and receives. The person who maintains these records is called a bookkeeper. Bookkeeping is part of the larger field of accounting. People who work as accountants prepare financial statements, study an organization’s costs, calculate its taxes, and provide other information to help in making business. Underlying all bookkeeping is the simple T account, so named because its form resembles the letter T. It shows that money flows either in or out. The T account records this on the two sides of a perpendicular.

The example shows that $94 has been taken in and $27 has been paid out. The difference of $67 (called the balance on hand) is added to the out side of the account to make both totals the same. Writing in an account’s balance, or balancing it, may be done whenever it is desirable to know whether the ins exceed the outs, or vice versa.

Accounting as a Career

Accountants and bookkeepers work for business firms, government agencies, and many other organizations. Certified public, or chartered, accountants are licensed by the state to provide accounting services to clients for a fee. They must pass a difficult examination to receive their certificates. The work of a certified public accountant (CPA) consists primarily of auditing the accounts of organizations to determine whether their financial statements are fair and reliable. CPAs also advise businesses and private individuals on income tax questions. Business firms and banks employ their own accountants to supervise their accounts and prepare financial statements. The Internal Revenue Service and the Securities and Exchange Commission employ large numbers of accountants.

1.2.Для перевірки правильності розуміння тексту, виконайте наступні ситуаційні вправи:

Ситуація 1. Деяким людям до вподоби точні формулювання, у такому разі вони наступні вислови замінять на інші:

1. A group of people who have a particular shared purpose or interest is called………..

2. ……… is the recording of all the money received into and paid out from a business.

3. An accountant who holds a licence from the state to work as an accountant is ………….

4. An amount of money paid for a particular piece of work or for a particular service is called………….

5. ………… is someone who gets services or advice from a professional person, company, or organization.

6. A tax on money people earn paid to the national government is called …………..

Ситуація 2. Складіть історію із наступних фрагментів, але ви, як оповідач, віддаєте перевагу офіційним і лаконічним висловлюванням:

1. Don’t forget to record how much you are spending and receiving every month.

2. The company is looking for a person whose job is to make an official record of all the money received into and paid out from a business.

3. The company hasn’t sent to the authorities its presentation of the financial state for its fiscal year ended March 31.

4. Exact records of the money that a company has received and spent for last year showed a profit of $2 million.

5. Once we know how much money we’ll need next year, let’s spend the amount left.

6. The company has an official examination of the accounts at the end of each financial year.

2.1.Прочитайте текст 8, намагаючись зрозуміти його якомога точніше та повніше.

TEXT 8