Вопрос 1 TRANSLATE AND ANSWER THE QUESTIONS
The income statement is commonly divided into two sections in a similar fashion to the balance sheet. One section shows the total income and the other section shows the total expenses. Like the balance sheet each section will be broken down into more or less detail depending on its intended use. However unlike the balance sheet the totals of each of the two sections are unlikely to be the same. The difference will usually be shown as a separate item at the bottom of the income statement and if the total income exceeds the total expenses it will be given a title such as retained earnings, net profit or excess of income over expenditure. If the total expenses exceed the total income it will instead be called something like retained loss, net loss or excess of expenditure over income.
Income and expenses are financial measurements that relate to the performance of a business during a specified period of time. For this reason the income statement is also known as the statement of financial performance. It describes the performance of a business during a specified period. It is sometimes also referred to as the profit and loss statement.
In order to produce a balance sheet or an income statement it is necessary to have a systematic method of recording all the activities or events that have an effect on the financial measurements (A, L, P, I and E) described above. Traditionally these events were entered by hand into a set of books or accounts. More recently it has become common practice to enter these into a computer accounting system. Each entry is referred to as an entry and the practice of maintaining these entries in the accounts is referred to as book-keeping. The act of placing a particular entry into an account is known as posting. The total of all the entries in an account is known as the balance of that account. The accounts themselves are referred to collectively as the general ledger or sometimes just the ledger.
Traditionally a report was prepared showing the total of the A and E account balances and the total of the L, P and I account balances to ensure that these totals were the same. This report was known as a trial balance. Because most computer accounting systems will not allow entries to be posted unless the accounts remain in balance this has in many ways obviated the need for a trial balance.
It is interesting to note that neither of these definitions of debit and credit are intuitive or immediately obvious. Neither can they be deduced easily from their commonly understood meanings. This partly explains why students who are learning accounting for the first time have difficulty understanding the meaning of debits and credits. The traditional definitions come from the commonly established practice of manual double-entry book-keeping that puts debits on the left and credits on the right.
It is worthwhile repeating the more precise definitions of debit and credit given above as they are derived from the accounting equation since familiarity with them is essential for a proper application of accounting practice to the process of setting up and maintaining a general ledger.
A debit is an entry in a general ledger account that increases its balance if it is an A or E account and reduces its balance if it is an L, P or I account.
A credit is an entry in a general ledger account that reduces its balance if it is an A or E account and increases its balance if it is an L, P or I account.
1) What is it necessary to have in order to produce a balance sheet or an income statement?
2) What is the income of a business?
3) What are the expenses of a business?
4) What is the income statement?
5) What is a debit?
6) What is a credit?
Переведите на английский язык выделенные глаголы.
1 - A lot of houses построено in Moscow and other towns.
2 - When было написано this letter?
3 - The letter было написано this morning.
4 - Whom будет переведена this article into English by?
5 - The article переведена already.
6 - This question обсуждался when we came in.
7 - Where are the students? They экзаменуются now in the next room.
8 - By the time they arrive the work закончена.
9 - A huge plant in the town of N был построен recently.
10 - The little boy смотрели with interest by the people.
11 - I (to check up) my homework before she (to question) me.
Выберите правильный вариант:
1) We're not paying a builder to mend the fire-place. We've decided to do it
2) I still can’t understand what happened. You owe me an … .
3) It is quite often faster to walk than to go ... bus.
4) … bag is this? - It's mine.
5) There aren't … people here today.
6) That sofa … comfortable. Can I try it?
7) Motor racing is probably … sport in the world.
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The income statement is commonly divided into two sections in a similar fashion to the balance sheet... 1) What is it necessary to have in order to produce a balance sheet or an income statement? 2) What is the income of a business? 3) What are the expenses of a business? 4) What is the income... А также похожие готовые работы: Страница 14 #1508307
Тема полностью: The income statement is commonly divided into two sections in a similar fashion to the balance sheet... 1) What is it necessary to have in order to produce a balance sheet or an income statement? 2) What is the income of a business? 3) What are the expenses of a business? 4) What is the income statement? 5) What is a debit? 6) What is a credit? ...
Артикул: 1508307
- Предмет: Деловой английский язык
- Разместил(-а): 526 Анна в 2020 году
- Количество страниц: 9
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| Тема: | The income statement is commonly divided into two sections in a similar fashion to the balance sheet... 1) What is it necessary to have in order to produce a balance sheet or an income statement? 2) What is the income of a business? 3) What are the expenses of a business? 4) What is the income statement? 5) What is a debit? 6) What is a credit? ... |
| Артикул: | 1508307 |
| Дата написания: | 22.07.2020 |
| Тип работы: | Экзаменационные вопросы |
| Предмет: | Деловой английский язык |
| Количество страниц: | 9 |
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