Acounting
Very import show financial performance and financial position
For government, manegements, investors
Auditing
Bankrupt = go bust
Shares dive: go down in big quantity
False accounting can easily lead to copanies going bankrupt, creditors and investors losing money,..
Scandal (a disgraceful event causing public outrage) seems to be commonly used with both accouting
and auditing
Expense: education, holiday, tour, cost
Expenditure: margin, income
Cost: the expense incurred for making a product or service that is sold by a company
Price: how much the customer pay for particular pay, the amount of money a customer pays for
something
To make a profit, you’d want your price to be higher than your cost.
Mid term : >1 year and <3 year
Dividend đí vi đen
Equity éc qui ty
1. What is accounting? Why is it necessary for companies and organizations?
Accounting is the process of systematically recording, classifying, summarizing, and interpreting
financial transactions and events. Accounting is essential for providing transparency, maintaining
control, and supporting the overall financial health and growth of a company or organization.
2. What is auditing and why is it necessary?
Auditing is the process of examining and verifying a company's financial records, transactions,
and statements to ensure accuracy, compliance with accounting standards, and adherence to
legal and regulatory requirements. It enhances trust in financial statements, prevents fraud, and
ensures companies comply with laws and regulations, thereby contributing to the overall
stability and accountability of businesses and the financial system.
1 anything owned by a company - cash, buildings, machines, etc: assets (e sẹt)
2 calculating how much tax an individual or a company should pay - or trying to reduce
this figure: tax accounting
3 checking and evaluating financial records (n) (rét cót): auditing
4 determining the unit cost of a manufactured product, including indirect costs: cost accounting
5 keeping financial records and preparing financial statements: financial accounting
6 money that a company will have to pay to someone else - bills, debts, interest, taxes, etc: liabilities
7 recording transactions (purchases and sales] in ledgers: bookkeeping (ghi sổ)
8 the money that a company receives from supplying goods or services: income
9 the money that a company spends: expenditure
10 the use of a company's accounting data by its managers for planning and control: management
accounting
3.7
4. Accounti
ng
5. Tolearn about: types of
accounting; financial
statements; key vocabulary
6. o! financial statements and
accounting
7. Tolearn how to: say figures
in English; talk about financial
statements
8. Topractise: presenting
financial results
9. EMI shares
10. dive after
11. accounting
12. scandal
13. Ahold pays
14. $1.1
15. bn
16. to settle
accounting
17. scandal
18. Accounting
scandal: Apple
19. may have
to restate
profits
20. BP accused of
21. 'world-class
22. accounting
scandal'
23. Parmalat
goes
24. bankrupt
after
25. accounting
scandal
26. World
Com: yet
27. another
American
28. auditing
scandal
29. Lead in
30. • What is accounting? Why
is it necessary for companies
and organizations?
31. • Is there is one way of
doing a business's accounts, or
lots of different possible ways?
32. •
1. Things owned by a company: assets
2. Debts, money owed to someone else: liabilities
3. Things that can be quickly turned into cash: current assets
4. Things that cannot be quicky turned into cash: non-current assets
5. Money customers owe to company: accounts receivable
6. Money a company owes to suppliers: accounts payable
7. Finished or partially finished goods owned by a company: inventory
8. Things that can be touched like a building or machine: tangible assets
9. Things that cannot be touched like a brand name or patent: intangible assets
10. Debts a company has to pay within one year: current liabilities
11. Debts a company does not have to pay in current year: non-current liabilities
12. Money shareholders invested plus retained earnings: equity
13. Money a company keeps to use for the business or to pay debts: retained earnings
