INVOICE / BILL / ACCOUNT / ACCOUNTS /
CHECK (AE) / RECEIPT
1.
2.
3.
4.
5.
6.
A statement of money owed for goods or services
supplied.
a slip or ticket showing the amount owed, esp. a bill for
food or beverages consumed (AE)
A document sent by a seller to a customer with details
of goods or services that have been provided, their
price, and the payment date.
A written statement showing that you have received
money, goods or services.
An arrangement between a bank and a customer that
allows the customer to pay in and take out money.
The complete set of records showing money coming
into or going out of a business, its profits and its
financial situation.
INVOICE / BILL / ACCOUNT / ACCOUNTS /
CHECK (AE) / RECEIPT
1.
A statement of money owed for goods or services
supplied.
BILL (invoice)
2. A slip or ticket showing the amount owed, esp. a bill for
food or beverages consumed (AE). CHECK
3. A document sent by a seller to a customer with details of
goods or services that have been provided, their price,
and the payment date.
INVOICE
4. A written statement showing that you have received
money, goods or services.
RECEIPT
5. An arrangement between a bank & a customer that allows
the customer to pay in & take out money. ACCOUNT
6. The complete set of records showing money coming into
or going out of a business, its profits and its financial
situation.
ACCOUNTS
Croatian term:
FILL IN THE GAPS.
1.
2.
3.
4.
5.
Could we have the __________,
check/bill
please?
bill
The _______
for the repairs came to $650.
account
My salary is paid into my bank ________.
bill
Have you paid the phone _______?
accounts
The _________for
last year showed a profit of
$2 million.
invoice
6. The manufacturer sent the __________for
two
typewriters.
receipt for
7. Make sure you are given a _______
everything you buy.
Accounting & financial statements
• What is accounting?
• What skills do accountants need?
→ MK, p 95, Vocabulary 2
1 cost accounting
2 tax accounting
3 auditing
4 managerial account.
5 creative accounting → comment on the cartoon
or window dressing
6 bookkeeping
What skills do accountants need?
1 cost accounting
2 tax accounting
3 auditing
• analytical ability & mathematical
competence
• thorough knowledge of tax laws
and accounting
• strong analytical skills and
honesty
4 managerial account. • analytical ability & math
5 creative accounting • strong analytical skills and
dishonesty
or window dressing
• accuracy and concentration,
6 bookkeeping
mathematical ability
→ MK, p 96, Vocabulary 4:
Common word combinations
•
•
•
•
•
•
•
•
•
Calculate liabilities
Calculate taxes
Keep records
Pay liabilities
Pay taxes
Receive income
Record expenditure
Record income
Record transactions
• Value assets
• Value liabilities
ACCOUNTING + FINANCING
MK, p 95, Vocabulary 1
1B
2B
3B
6C
7A
8B
→ RB, p 32
Read, fill in the notes
Match up words
→ MK, p 96, Task 3
→ RB, p 33
4A
9A
5C
10A
THE PROFIT AND LOSS ACCOUNT
ncome and e_________.
xpenditure
• It shows i_______
• It gives figures for total sales in a year or
t________
evenue
urnover or r________.
• It shows c______,ex_________
and ov_______.
osts
penses
erheads
• Part of the profit goes to the government in
ta________,
part to the sh_________
xation
areholders as
ividend
d_________and
part is retained by the
c____________.
ompany
→ Find Croatian equivalents
→ RB, p. 34
Balance Sheet
1.
2.
3.
4.
5.
6.
7.
inancial
The balance sheet shows a company’s f_________
ituation on the last day of the f________
inancial
s________
ear
y_______.
ssets
iabilities
It lists the company’s a_________,
l__________
and
hareholders’ f_______
unds
s___________
(equity).
urrent
ixed
Assets can be c_________
and f__________.
Why do a company’s assets include debtors?
oodwill
atents
Intangible assets include g_________,
p________,
rademarks
c_________
opyrights & t____________.
hort-term
Liabilities can be s__________
(current) and
l___________
.
ong-term
Owners’ capital (e______)
is money received from the
quity
hares
eserves
issue of s________
and r_______.
→Find Croatian equivalents RB 34 p. 35
Balance sheet, cont.
1. Complete the basic accounting equation:
iabilities
hareholders’ equity
ssets
A______
= L________
+ S________________
or
shareholders’ equity
Assets
_______
- liabilities
________ = ___________________
Provide opposites:
•
•
•
•
•
•
•
•
•
•
Short-term liabilities
Fixed assets
Debtors
Tangible
Assets
Current cost acc.
Payables
Own
Income
Net
→ RB, p 36
•
•
•
•
•
•
•
•
•
•
Long-term liabilities
Current assets
Creditors
Intangible
Liabilities
Historical cost acc.
Receivables
Owe
Expenditure
Gross
Cash flow statement
• Two directions of cash flow:
• Three types of company activities:
perating f_______
inancing & i________
nvestment activities
o_______,
• Four examples of sources of funds
• Five examples of applications of funds
→ RB, p 35 – find Croatian equivalents
Accounting and Financial Statements
•
•
•
•
operating, financing and investment activities
flow of cash in and out of the business
source of funds:
application of funds:
a)
c)
e)
g)
i)
trading profits
b) purchase of assets
sales of assets
d) borrowing
issuing of shares f) payment of dividends
trading losses
h) depreciation provisions
repayment of loans
Accounting and Financial Statements
CASH FLOW STATEMENT
•
•
•
•
operating, financing and investment activities
flow of cash in and out of the business
source of funds (in): a, c, d, e, h
application of funds (out): b, f, g, i
a)
c)
e)
g)
i)
trading profits
b) purchase of assets
sales of assets
d) borrowing
issuing of shares f) payment of dividends
trading losses
h) depreciation provisions
repayment of loans
• profit: - tax
– dividends
– retained / net profit
• costs
• expenses
• total sales or turnover
• overheads
List them in the usual order:
PROFIT AND LOSS ACCOUNT
• profit: - tax
– dividends
– retained / net profit
• costs
• expenses
• total sales or turnover
• overheads
List them in the usual order:
turnover, costs, expenses, overheads
profit
• the last day of the financial year
• company’s assets
• liabilities
• stockholders’ funds
Classify as assets or liabilities:
debtors
creditors goodwill
patents
accounts receivable
loans and bonds
trade marks accrued expenses
taxes
interest
accounts payable
stock
mortgage buildings vehicles
overdraft
BALANCE SHEET
• the last day of the financial year
• company’s assets
• liabilities
• stockholders’ funds
Classify as assets or liabilities:
debtors
creditors goodwill
patents
accounts receivable
loans and bonds
trade marks accrued expenses
taxes
interest
accounts payable
stock
mortgage buildings vehicles
overdraft
• HW: RB p 36 – Vocabulary exercises