Accounts and Balance sheets

From the Trial Balance, prepared by the bookkeeper, the accountant creates a Profit and Loss Statement and Balance Sheet.

A Profit and Loss Statement, or a Profit and Loss Account, shows the income or loss of the company for the period. The Profit and Loss Statement is made only on the basis of those accounts of the Ledger which affect the profit and loss of the company. The Profit and Loss Statement may contain the following items:

• Sales Tax

• Trading profit Profit after tax

• Depreciation Dividends

• Rent received Profit retained

• Interest paid Earnings per share

• Profit before tax

The other accounts of the Ledger which reflect the assets, liabilities and capital of the firm, make up a Balance Sheet. This shows the net worth or book value of the company.

The two sides of the Balance Sheet, that is Total Assets and Total Capital and Liabilities, are always to be equal.

Level A-B

4. Match the words in the column A and their meanings in the column B. Знайти відповідність між словами в колонці А та їх перекладом в колонці А.

1. profit a) убыток

2. balance sheet b) дивиденды

3. loss c) содержать

4. dividend d) наличность, деньги

5. merchandise e) активы

6. statement f) счет

7. cash g) влиять

8. earnings h) обязательства, пассивы

9. to contain i) арендная плата

10. assets j) товары

11. account k) бухгалтерский баланс

12. rent l) стоимость, ценность

13. accountant m) фонд, капитал

14. liabilities n) отчет, счет

15. to affect o) доход

16. value p) мебель

17. furniture q) бухгалтер

18. fund r) прибыль

The UK and the USA often have different terms for the same things. Here are some important examples. Write the same in your language.

The UK	The USA	Your language
Balance Sheet	Statement of Financial Position
Profit and Loss Statement	Statement of Earnings
shareholder	stockholder
stock	inventory
base rate	prime rate
cheque	check
company	corporation
creditors	accounts payable
current account	checking account
debtors	accounts receivable
trade union	labor union
retail price index (RPI)	consumer price index (CPI)
property	real estate
note	bill

6. Make up sentences as in the text. Translate them. Відновити речення, відповідно до тексту, перекласти їх.

1. And, creates, Profit, the, Balance, accountant, Statement, and, a, Loss, Sheet.

2. Sheet, a, book, Balance, shows, net, or, the, value, the, worth, company, of.

3. The, Loss, and, may, items, Profit, received, contain, the, Trading, following, Sales, Rent, Depreciation, Statement.

4. A, and, the, Account, the income, or, Profit, loss, shows, of, company, for, Loss, the period.

7. Analyze the information in the balance sheet. Translate it. Проаналізувати інформацію в балансі, що наводиться нижче. Перекласти.

Дата добавления: 2015-11-14