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The amounts of long-term financing needed by large firms can be very great.
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Answer the questions:
- What skills must a manager develop for effective activity?
- What is skills are very important for top managers and why?
- Why must managers develop a decision-making ability?
- What skill must a manager have to determine the most important problem of many other problems?
- What skill is a decisive factor of a manager’s success and why?
- What ability helps to understand the needs and motives of other people and to have good psychological atmosphere inside the organization?
- Who has the closest connection with the production process: top managers or fist-line managers?
- Do top managers need the knowledge of the technical sphere of the production?
Accounting
General definition of accounting
| General | Общий |
| Account | Счет |
| Accounting | (бухгалтерский) учет, ведение счетов |
| Impossible | Невозможный |
| Manage | Руководить, управлять |
| Without | Без |
| Accurate | Точный |
| Lender | Кредитор, заимодавец |
| Stockholder | Акционер |
| Agency | Ведомство, орган |
| Rely (on) | Полагаться (на) |
| Statement | Отчет |
| Report | Отчет, сообщать (о) |
| Balance sheet | Балансовый отчет, баланс |
| Income statement | Отчет о доходах |
| Summary | Обобщенный отчет, итоги |
| Specific | Конкретный |
| Represent | Представлять |
| Perhaps | Возможно |
| Transaction | Сделка, деловая операция |
| Occur | Происходить, иметь место |
| Accounting period | Отчетный период |
| Needed | Нужный |
| Client | Клиент |
| Confuse | Смешивать (в уме), путать |
| Bookkeeping | Счетоводство, ведение бухгалтерских книг, бухгалтерия |
| Responsible | Ответственный |
| Record | Записывать, вести учет |
| Data | Данные |
| Process | Обрабатывать |
| User | Пользователь |
| Provide | Обеспечивать |
| Deal (with) | Иметь отношение (к) |
| Revenue | Доход |
| Accounts (debt) receivables | Дебиторская задолженность (долг, который следует получить компании), счета дебиторов, счета к получению |
| Amount | Сумма |
| Borrow | Занимать, брать взаймы |
| Owe | Быть должным |
| Profit | Выгода, прибыль |
| Investment | Инвестиция, инвестирование |
| Return on investment | Прибыль на инвестированный капитал |
| And the like | И тому подобное |
| Compile | Собирать |
| Sales territory | Территория продажи |
| Store | Магазин |
| Individual salesperson | Отдельный продавец |
| Division | Сектор |
| Department | Отдел |
| Generally | Вообще |
| In any way | В любой форме |
| Set goals | Ставить цели |
| Control | Контролировать, управлять |
| Evaluate | Оценивать |
| Potential investor | потенциальный инвестор |
| Soundness | Надежность |
| Confirm | Подтвердить |
| Tax | Налог |
| Liability | Пассив, задолженность |
| Payroll | Платежная ведомость (по зарплате) |
| Deduction | Удержание, вычеты |
| Approve | Утверждать, одобрять |
| Issue | Выпуск |
| Stock | Акции, ценные бумаги |
| Bond | Облигация |
| Provide | Предоставлять |
| In the required form | В требуемом виде |
The basis for the accounting process
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| Basis | Основа |
| Accounting equation | Бухгалтерская сбалансированность (дебет и кредит) |
| Relationship | Соотношение |
| Assets | Активы, авуары, актив баланса |
| Own | Владеть |
| Item of value | Материальные ценности |
| Owner | Владелец, собственник |
| Debt | Долг |
| Obligation | Обязанность, обязательство |
| Owner’s equity | Собственный (уставной) акционерный капитал |
| Pay off | Расплачиваться (с) |
| Term | Здесь понятие, значение |
| Sole | Единоличный |
| Proprietorship | Право собственности |
| Partnership | Партнерство, товарищество |
| Share | Доля |
| Report | Сообщать |
| Is referred (to) | Называться |
| Stockholder’s equity | Доля акционера |
| Retained earning | Нераспределенная прибыль |
| Accumulate | Накапливать(ся) |
| To date | К определенному времени |
| Move | Переставлять |
| Above | Вышеуказанный |
| Algebraically | Алгебраически |
| Obtain | Получать |
A balance sheet
| Statement | Отчет |
| Summary | Сводка, краткое изложение |
| Particular | Конкретный |
| Various | Различный |
| Enter | Входить |
| Demonstrate | Показывать |
| Indeed | Действительно |
| Balance | Уравновешиваться |
| That is | То есть |
| Prepare | Готовить |
| At least | По крайней мере |
| Once | Один раз |
| Semiannually | Раз в полгода |
| Quarterly | Ежеквартально |
An income statement
| Income statement | Отчет, счет прибылей (и убытков) |
| Summary | Сводка |
| Cover | Охватывать, учитывать |
| Previous | Предыдущий |
| Annual report | Годовой отчет |
The importance of the above two statements
| Importance | Важность |
| Compare | Сравнивать |
| Competitor | Конкурент |
| A number (of) | Ряд |
| Ratio | Соотношение, коэффициент |
| Compute | Вычислять |
| Provide | Давать |
| Profitability | Доходность |
| Account receivable | Сумма, причитающаяся к получению, дебиторская задолженность |
| Long-term | Долгосрочный |
| Debt financing | Долговое финансирование (т.е. путем получения займов) |
| Like | Как |
| Those | Здесь заменяет слово ''отчеты'' |
| Accounting period | Отчетный период |
| Average | Средняя величина |
| As a whole | В целом |
General definition of accounting
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Today, it is impossible to manage a business operation without accurate and timely accounting information. Managers and employees, lenders, suppliers, stockholders, and government agencies all rely on the information contained on two financial statements. These two reports – the balance sheet and the income statement – are summaries of a firm’s activities during a specific time period. They represent the results of perhaps tens of thousands of transactions that have occurred during the accounting period.
Accounting is the process of systematically collecting, analyzing, and reporting financial information. The basic product that an accounting firm sells is information needed for the clients.
Many people confuse accounting with bookkeeping. Bookkeeping is a necessary part of accounting. Bookkeepers are responsible for recording (or keeping) the financial documents that the accounting system processes.
The primary users of accounting information are managers. The firm’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 improve new issues of stocks and bonds. The firm’s accounting system must be able to provide all this information, in the required form.
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.
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