Accounting
What is the definition of an accountant?
Someone who solves a problem you did not know you had in a way you don’t
understand.
Warm up
• What is your job? Describe what you do on a
day to day basis.
• When is the busiest time of the year for you at
work?
• Accounting has a reputation for being boring.
Would you agree?
• What are your favourite and least favourite
parts of working in accounting?
• What is something all accountants should be good at?
• Does being good at accounting help you in your life outside of work?
• Should some level of accounting be taught to secondary school students?
Why/Why not?
1. Practice read the following numbers and equations out loud with your class.
1. 5634 2. 456,678
3. 10,456,677 4. 45,235,345,678
3
5. 4 6. 0.00456
7. 49.8% 8. 8:6
9. 23 10. 19x6=114
11. 329 ÷ 8 = 41.125 12. 1000+500 = 1500
13. 86-67=19 14. $2.50
15. €56.99 16. £10.75
2. Write down some examples of your own numbers from exercise 1. Work with a
partner and practice saying and writing these number. Check your answers.
My examples My partner’s examples
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Accounting
3. The employees below all work for a large financial firm SDG Limited. Read their
job descriptions below and match their name to the correct job title.
1. Jane a. Accountant intern
2. Mary b. Bookkeeper
3. Emily c. External Auditor
4. Rav d. Budget Analyst
5. Thomas e. Financial Controller
6. Jen f. CFO
Jane: I keep track of a Mary: I am responsible for
company's finances by tracking the cash flow and
accurately recording accounts to ensure that
transactions and everything is being
organizing financial recorded and processed
records. I help the correctly. Additionally, I
company stay on top make sure that assets are
of its financial protected through
obligations and appropriate control
provide the measures and that the
information needed to make informed financial records meet legal standards.
decisions about its future.
Emily: I review a Rav: I analyse the budget
company's financial proposals, determine
records to make sure funding allocations,
everything is accurate defend the budget
and follows the rules. recommendations
Then, I give my opinion against various
to help people decide
whether or not to trust
stakeholders and
the company's financial forecast the company’s
statements. This helps future financial
make sure that the requirements.
company is being honest about its financial
health.
Thomas: My job has Jen: I am working here
the primary for 3 months to get
responsibility of practical work
planning, experience while I study.
implementation, I assist the accounting
managing and department with a
running all of the variety of tasks. For
finance activities. I example, I am
also obtain and responsible for basic
maintain relations office tasks such as
with our investors making copies of client
and partners. invoices or files.
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Accounting
4. Discuss the following points on invoicing with your class and take notes.
1. Do you work with invoices at your job?
2. What is the difference between an invoice and a quotation?
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3. What is the difference between an invoice and a receipt?
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4. What is a fiscal year?
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5. What necessary information should be on an invoice? List below.
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6. Here are some common invoicing mistakes. Have you ever made any of
them?
➢ Not having an invoice template
➢ Not having the appropriate contact person
➢ Not backing up the original file
➢ Leaving out essential details or making mistakes
➢ Not setting a due date
5. Match the type of expenses below with their correct definition.
1. fixed expenses a. These expenses are determined by the business and
usually fluctuate with the business sales for example
in marketing, production, materials etc.
2. variable expenses b. These expenses can be defined as "want” expenses
rather than “needs”.
3. discretionary expenses c. Consistent on a month-by-month, year-by-year
basis. These expenses are not affected by your sales.
4. operating expenses d. These are the costs that your business needs to run.
This can include things such as stationery.
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Accounting
6. Match the following invoicing terms with their correct definition.
1. income statement a. Describes the company’s financial position at a certain point
in time. It usually lists the company’s assets, liabilities, and
obligations.
2. cash flow statement b. This lists the revenues, costs and expenses for a specific
time period. This time period is usually your fiscal year.
3. balance sheet c. This statement is broken down into three parts. Operations
(how much cash inflows and outflows have been generated by
the business), investing (equipment, buildings or short-term
assets) and financing (debts, loans and dividends).
7. Auditors and accountants often have to write financial reports. This is when
graphs come in handy. Take a look at the graphs below and label them with the
correct description.
1. 2. 3.
4. 5. 6.
a. The situation was pretty bad, but the numbers are improving slowly.
b. The numbers have been fluctuating since the start of the year.
c. We have seen a steady increase in our figures over the past year.
d. The figures have soared this quarter.
e. The situation is stable.
f. Figures plummeted last quarter.
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Accounting
8. Listen to Rob talk about his job as a financial controller and answer the questions.
a) What does North Craft sell?
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b) Who does Rob work with to make the annual budget?
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c) What part of his job does Rob find to be the most difficult?
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d) Why is Rob not excited about giving his annual report?
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e) How much revenue did North Craft Solutions have last year?
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f) What are the top 3 operating costs at North Craft?
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g) How much profit did North Craft make last year?
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h) How much profit did North Craft make this year?
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i) What is the main reason North Craft is not doing very well?
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j) When is the annual report due?
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Accounting
9. Work with a partner or in a group and complete the following crossword using
vocabulary from this worksheet.
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Accounting
Clues
ACROSS
4) Someone who maintains financial records, including purchases, sales, receipts
and payments.
5) An official paper document confirming that someone has purchased something.
7) A synonym for figure.
9) An estimation of revenue and expenses over a specified future period of time.
DOWN
1) A commercial document that records the transaction between a buyer and a
seller.
2) A synonym for costs.
3) A document issued from a business to a customer outlining the price of a sale
before the customer commits to the purchase.
6) Fall or drop straight down at high speed.
8) A word used to describe when something is expected or planned for a certain
time.
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Accounting
