Exercise 3. Answer the following questions

1. What is the role of auditing in the system of control?

2. What organs have the right to check the book-keeping of the enterprise?

3. Which of these organs has the major responsibility for auditing the books of enterprises?

4. What Is the Control and Audit Administration concern with?

5. What enterprises do the Services of State Control audit?

6. What are the tasks of audit?

Exercises 4. Give a short review of the text

Exercises 5. Translate the following sentence into English:

1. В нашей стране много контролирующих органов

2. Самые главные контролирующие органы – Министерство финансов, службы государственного контроля и вышестоящая административная организация

3. Они осуществляют контроль различные организаций не реже 1 раза в год

4. Контроль осуществляется с помощью штата ревизоров

5. Основные задачи ревизии – проверить законность операций и правильность документации, а также выявить случаи хищений и растраты

Translate sentences

1. Personal financial planing, investments, loans, income taxes and many other aspects of daily life are based on accounting

2. Over the years, certain rules called generally accepted accounting principles have been developed

3. Some of these generally accepted principles are: the cost principle and the business entity principal

Translate from Russian into English, make sentences with these words

1. Оценка

2. Производственный учет

3. Расходы и доходы

4. Балансовый отчет

5. Активы и пассивы

6. Собственный капитал

Translate into Russian

Bookkeeping is only are small parts of accounting and means the recording of transactions in the books

1. The major function of certified public accountants (CPAs) is to serve as a link between the management that prepares financial statements and the people who use the statements

2. Financial reports are used by managers, investors, creditors, and taxpayers. Give the English for the following:

1. Хозяйственная организация

2. Отчет о доходах

3. Чистый доход

4. Текущие обязательства

5. Векселя к оплате

Translate sentences

1. The balance sheet consists of two sides: assets and liabilities and owner’s equity

2. Current assets include Cash, Investments, Notes Receivable, Accounts Receivable, and Merchandise Inventory

3. The accounting reports that summarizes the revenues and expenses of on accounting period is called the income statement

Translate into English

1. Бухгалтер имеет дело с налогами, наличными деньгами, продажей, покупками и другими сделками компании

2. Две стороны балансового отчета: активы и пассивы, и капитал должны быть равны

3. В бухгалтерском балансе товарно-материальные запасы показаны в активах

Translate into Russian

1. Typically assets on the balance sheet are classified into five groupings:

1. Current assets

2. Investments

3. Property, plant and equipment

4. Intangibles (нематериальные активы) and other assets

2. The accountant is to determine the ways in which the business may grow in the future

3. The Balance Sheet provides economic information about the entity’s liabilities and the interests of the owners

1. Give the English fir the following. Make your sentences

2. Дипломированный бухгалтер

3. Издержки, себестоимость, стоимость

4. Отчет о прибылях и убытках

5. Планирование налогов

6. Кредиторская задолженность