Exercise 5. Write the appropriate word or phrase in the following sentences:
total, monitors, accounting, financial year, motivates, budget (2), fiscal year, budgeting, budgets.
1. The financial director is responsible for the firm’s … .
2. … involves setting financial goals and standards for an enterprise.
3. Our company’s … is the calendar year, January 1 December 31.
4. The new channel will be launched with a $3 million promotional ….
5. A desire to go to business school … her to study mathematics hard.
6. She was given a … of $25, 000 to launch the magazine.
7. In the UK, the government’s … runs from 6 April to the following 5 April.
8. Our financial manager will calculate the total profit at the end of the …period.
9. The boss … the quality of her employees’ work.
10. The … of this month’s sales is up 20%.
Exercise 6. Answer the following questions:
1. What is a budget? What does it show?
2. Why is the preparation of a budget an important aspect of a company’s success?
3. What is the primary objective of the budget?
4. What is the customary accounting period for the budget?
5. What can a master budget be used for?
6. What is the master budget?
7. What is the control device?
8. What does the success of the budgeting process depend on?
Exercise 7. Sum up what you remember about:
- a budget and budgeting;
- the fiscal year;
- a master budget.
Unit 35. Auditing
Active Vocabulary
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auditing accounting function review evaluation audit auditor outside (external) audit internal audit accounting department fiscal affairs books the standard operating procedures accounting records |
перевірка звітності облікова функція перевірка оцінювання, оцінка, аналіз аудит, перевірка, аудиторська перевірка аудитор, бухгалтер зовнішній аудит внутрішній аудит бухгалтерія фінансові справи бухгалтерські книги стандартні методи роботи бухгалтерські рахунки, документація |