So what bookkeepers and accountants do?

I. Study the vocabulary:

accountantбухгалтер (особа, яка відповідає за перевірку і аналіз фінансової звітності)

bookkeeper бухгалтер (особа, яка відповідає за фінансову звітність)

cash готівка

flow потік (грошей)

disbursement виплата грошей

purchase закупка

to post переносити в головну бухгалтерську книгу

expenditure витрати

earnings прибутки

balance баланс

trial balanceпробний баланс(перевірка правильності обліку шляхом щомісячного балансування активів та пасивів

to interpret тлумачити, интерпретувати

tax податок

II. Read and translate the text.

Bookkeepers deal in taxes, cash flow, which include cash receipts and cash disbursements, sales, purchases and different business transactions of the company. Bookkeepers must begin to record the data from the original transaction documents into books of original entry called journals. Journals are the books where accounting data are first entered. The term "journal" comes from the French word "jour", which means day. A journal, therefore, is where the day`s transactions are kept. At the end of a period usually a month the totals of journals are posted into the proper page of the Ledger. The Ledger shows all the expenditures and all the earnings of the company. On the basis of all the totals of each account in the Ledger, the bookkeeper prepares a Trial Balance. Trial Balance are usually drawn up every quarter.

So a bookkeeper is busy keeping the books of account of a business, recording a profit and loss account and compiling the balance sheet.

Accountants classify and summarize the data provided by bookkeepers. They interpret the data and report them to management. They also suggest strategies for improving the financial condition and progress of the firm. Accountants are especially valuable for income tax preparation and financial analysis. They are "producers" of financial information, which is then made available to "consumers" such as owners and lenders. Accountant`s task is to follow accounting principles and rules, to check up correctness of accounting records and to evaluate financial position of an organization, as well as to advice the interested parties on financial matters.

Many business failures are caused by poor accounting practice.

III. Retell the text.

<== попередня сторінка	\|	наступна сторінка ==>
II. Retell the text.	\|	ACCOUNTANTS AND BALANCE SHEETS

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