Переведенная на английский лекция по теме Money and banking (деньги и банковское дело), the role of banks (роль банков), modern banking (современная банковская система)

Two developments turned these goldsmiths into bankers. The first was that people found it a lot easier to give the

Переведенная на английский лекция по теме Money and banking (деньги и банковское дело), the role of banks (роль банков), modern banking (современная банковская система)

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Банковское дело

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Банковское дело

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;s accounting system provides the information dealing with revenues, costs, accounts receivables, amounts borrowed and owed, profits, return on investment, and the like. This information can be compiled for the entire firm; for each product; for . each sales territory, store, or individual salesperson; for each division or department; and generally in any way that will help those who manage the organization. Accounting information helps managers plan and set goals, organize, motivate, and control. Lenders and suppliers need this accounting information to evaluate credit risks. Stockholders and potential investors need the information to evaluate soundness of investments, and government agencies need it to confirm tax liabilities, confirm payroll deductions, and approve new issues of stocks and bonds. The firm's accounting system must be able to provide all this information, in the required form.

2. THE BASIS FOR THE ACCOUNTING PROCESS

The basis for the accounting process is the accounting equation. It shows the relationship among the firm's assets, liabilities, and owner's equity.

Assets are the items of value that a firm owns 'cash, inventories, land, equipment, buildings, patents, and the like.

Liabilities are the firm's debts and obligations what it owes to others.

Owner's equity is the difference between a firm's assets and its liabilities what would be left over for the firm's owners if its assets were used to pay off its liabilities.

The relationship among these three terms is the following:

Owners' equity = assets - liabilities

(The owners' equity is equal to the assets minus the liabilities)

For a sole proprietorship or partnership, the owners' equity is shown as the difference between assets and liabilities. In a partnership, each partner's share of the ownership is reported separately by each owner's name. For a corporation, the owners' equity is usually referred to as stockholders ' equity or shareholders ' equity. It is shown as the total value of its stock, plus retained earnings that have accumulated to date.

By moving the above three terms algebraically, we obtain the standard form of the accounting equation:

Assets = liabilities + owners' equity

(The assets are equal to the liabilities plus the owners' equity)

 

3. A BALANCE SHEET

A balance sheet (or statement of financial position), is a summary of a firm's assets, liabilities, and owners' equity accounts at a particular time, showing the various money amounts that enter into the accounting equation. The balance sheet must demonstrate that the accounting equation does indeed balance. That is, it must show that the firm's assets are equal to its liabilities plus its owners' equity. The balance sheet is prepared at least once a year. Most firms also have balance sheets prepared semi-annually, quarterly, or monthly.

4. AN INCOME STATEMENT

An income statement is a summary of a firm's revenues and expenses during a specified accounting period. The income statement is sometimes called the statement of income and expenses. It may be prepared monthly, quarterly, semiannually, or annually. An income statement covering the previous year must be included in a corporation's annual report to its stockholders.

5. THE IMPORTANCE OF THE ABOVE TWO STATEMENTS

The information contained in these two financial statements becomes more important when it is compared with corresponding information for previous years, for competitors, and for the industry in which the firm operates. A number of financial ratios can also be computed from this information. These ratios provide a picture of the firm's profitability, its short-term financial position, its activity in the area of accounts receivables and inventory, and its long-term debt financing. Like the information on the firm's financial statements, the ratios can and should be compared with those of past accounting periods, those of competitors, and those representing the average of the industry as a whole.

Vocabulary

1. General Definition of Accounting

 

 

general

accounting

account

impossible

manage

without

accurate

lender

stockholder

agency

rely (on)

statement

report

balance sheet

income statement

summary

specific

represent

perhaps

transaction

occur

accounting period

report

needed

client

confuse

bookkeeping

 

responsible

record

data

process

user

provide

deal (with)

revenue

 

 

 

accounts (debt) receivables

 

 

 

amount

borrow

owe

profit

investment

return on investment

and the like compile

sales territory

storeобщий

счет

(бухгалтерский) учет ведение счетов

невозможный

зд. руководить, управлять

без

точный

кредитор, заимодавец

акционер

зд. ведомство, орган

полагаться (на)

зд. отчет

отчет

балансовый отчет, баланс

отчет о доходах

обобщенный отчет, итоги

конкретный

представлять

возможно

сделка, деловая операция

зд. происходить, иметь место

отчетный период

сообщать

нужный

клиент

смешивать (в уме), путать

счетоводство, ведение бухгалтерских книг, бухгалтерия

ответственный

записывать, вести учет

данные

обрабатывать

пользователь

обеспечивать

зд. иметь отношение (к)

доход

 

 

 

дебиторская задолженность (долг, который следует получить компании, счета дебиторов, счета к получению

сумма

занимать, брать взаймы

быть должным

выгода, прибыль

инвестиция, инвестирование

прибыль на инвестированный капитал

и тому подобное собирать

территория продажи

магазинindividual salespersonотдельный продавецdivisionзд. секторdepartmentотделgenerallyвообщеin any wayзд. в любой формеset goalsставить целиcontrolконтролировать, управлятьevaluate оцениватьpotential investorпотенциальный инвесторsoundnessнадежностьconfirmподтвердитьtaxналогliabilityзд. пассив; задолженностьpayroll платежная ведомость (по зарплате)deductionудержание, вычетыapproveзд. утверждать, одобрятьissueвыпускstockамер. акции, англ. ценные бумагиbondоблигацияbe ableбыть способнымprovideпредоставлятьin the required formв требуемом виде

2. The Basis for the Accounting Process

basisосноваaccounting equationбухгалтерская сбалансированность

(дебет и кредит)relationshipсоотношениеassetsактивы, авуары, зд. актив балансаownвладетьitem of valueматериальные ценностиownerвладелец, собственникdebt

obligationдолг

обязанность, обязательствоowner's equityсобственный (уставной) акционерный

капиталpay offрасплачиваться (с)termзд. понятие, значениеsole

proprietorship

partnershipединоличный

право собственности

партнерство, товариществоshareдоляreportсообщатьis referred (to)зд. называтьсяstockholder's equityдоля акционераretained earningнераспределенная прибыльaccumulateнакапливатьсяto dateзд. к определенному времениmoveзд. переставлятьaboveвышеуказанныйalgebraicallyалгебраическиobtainполучать

3. A Balance Sheet

 

statementзд. отчетsummary сводка, краткое изложениеparticular конкретныйvarious различныйenter

demonstrate входить

показыватьindeed действительноbalance уравновешиватьсяthat is то естьprepare готовитьat least по крайней мереonce один раз 1semiannually раз в полгодаquarterly ежеквартально

4. An Income Statement

income statement отчет, счет прибылей (и убытков)summary сводкаcover охватывать, учитыватьprevious предыдущийannual report годовой отчет

5. The Importance of the above two Statements

importance важностьcompare сравниватьcompetitor

a number (of)

ratioконкурент

ряд

соотношение, коэффициентprovide

profitability

account receivable зд. давать

доходность

сумма, причитающаяся к получению, дебиторская задолженностьlong-term долгосрочныйdebt financing долговое финансирование

(т.е. путем получения займов)likeкакthose зд. заменяет слово «отчеты»accounting period отчетный периодaverage средняя величинаas a whole в целом

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