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    TATM 2.4

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    17 views26 pages

    Tatm 2.4

    Uploaded by

    Hường Thu

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    of 26
    a ‘Search forthe key words “extreme accounting” ‘wmat does this involve? what de you think ‘ies intends to achieve? TheBusiness 7 Financial control Paes ener cts Discussion Ell Work with a partner. Match the beginnings of these accountant jokes with their endings. How many accountants does it take to change a light bulb? Why do accountants get excited on Saturdays? Why did the auditor cross the road? ‘There are just three types of accountants. How much money do you have? ‘Those who can count and those who can't. ‘They can wear casual clothes to work, [Because he looked in the file and that’s what they did last year ‘What image does each joke give of accountants? What reasons can you think of for the image accountants have? Listening EB 3 2:19 Listen to a careers consultant talking about changing perceptions of accountancy. Answer the questions below. 1 What three reasons does the consultant give for aecountancy’s traditional image? 2. What three reasons does the consultant give for accountancy’ image improving? Reading Read the title, the first paragraph and the last paragraph of the article on the opposite page. Answer the questions below. a Do you think the ‘Future accountant shirt relly exists? b Why does the author think it might be ironic? ¢_Isthe author positive or negative about accountancy in general? EB Read the whole text. According to the author, which three personal characteristics do forensic accountants require? Gi For each question 1-4, choose the correct option a- 1 According to curent pereption, the aecountaney profession a contains more attractive members. bis better paid than in the past. ¢ has too many job applicants, 41 seems less boring than before 2. The difference between forensic accountants and mos other accountancy professionals is that their wor always a involves attendance at major rime scenes. 'b_ relates to information used in legal procedings. © requires greater technical knowledge. 4. ensures that financial criminals get convicted 3. Al Capone eas finally set to prison because a hevwas involved in a variety of crimes. his financial affairs were exposed € the Supreme Court convicted him his criminal gang betrayed him, 4 Tn the future, forensic aecountants will a show how terrorist crimes get funding 1 change attitudes to white-collar crime. € replace fingerprint experts on crime teams. 4 reduce levels of support for terrorism. Workin small groups. Discuss your opinions ofthe following questions a. How far are you convinced that aecountaney$ image is improving? To what extent do you think accountancy is a good career choice? Why? © Istechnology likely to make accountancy easier or more dificult in the future? Why? ‘must have been ironic, mustn't? Perhaps not. There are signs that accountancy is putting is traitonal image problem behind it, Increasing numbers of oraduates are applying 10 jain the profession, motivated not just by the prospect of high salaries but also by a change in pereaption roncaly, t is pally its association with the twenty- first century's biggest financial scandals ‘of Enron and WorldGam that has made avcountancy become, vel, sexier ‘At the ‘oretront ofthis image makeover is the specialism of forensic accounting, wit its suggestion a rime scene investigators and technicians in white coats In realty a forensic. aceountants work i chiefly concerned with any investigation of financial data which wil eventually be used in some {orm of tigation. Some of them work {or aw enforcement agances gathering ‘evidence to support fraud and bnbery charges. Others ar expert witnesses ur testify on either side in tiancial alispute cases While it might not always be CSI Miami, forensic accountants do need to develop some special skils which relate to ther roles as investigators. For instance, a forensic accountants work an make them erucil figures in high- proilecriminal cases like Enron, soa onfdent manera curt ea be ell In aditon, a systematic and analytical mind is essen, For example, a fraud ‘case, they may need to search financial Tecords thoroughly, looking for pattems of similares and coincidences that might incicate a cover-up. Imagination rota characteristic traditionally associated with accounting = is aso part of thei skl set, as they dig deeoer and tty to getinto the mind of suspected fraudsters. ‘hough the term forensic accounting i eaively event, the importance of accountants in egal mates has along history, The ‘most famous casein which forensio accountancy hes provided the pivotal evidence was inte conviction of the ‘otoriaus Gricego gangster A Capone Wii Capone's criminal activites tad included protection rackets ang murder, He was tialy concted onthe apparently lesser charge of ox ova Eimer trey, an offical atthe US land Revenue Service, believed that Capone's conviction could be obtained onthe bass ofa Supreme Court ruling that the income trom organized criminal avy was also subject to taxation. ‘team ot ivestigaors spent several years gathering evidence on Capone's net worth and expenditure, sometimes working uncercover as members of his criminal gang. They ulimately succeeded ‘assembling the documentary evidence ‘needed to convict him. ‘Many belive that future demand for forensic accountancy services will only get bigger. Stories of soars and frauds ‘emerge daiy inthe media, and, against ‘the background of Enron and WorldCom, ‘the problem of white-collar crime is boeing taken increasingly seriously Dy policy-makers. The US Sarbanes-Oxley Act is just one example ofthis change in attitude, ‘But t's not just inthe area of white= colar erie that forensic accountants ‘wl find jute employment. Terrorists require maney for their activities but reed to conceal their sources of funding to avoid capture, The cole of the forensic. ‘accountant vl be to reveal the money tral from terorist suspects back to their ‘sponsors. Their importance has recently {ed one senior Brish politician to liken forensic accountants to te fingerprint ‘experts of previous generations. The futute looks bright for accountancy, and there are enough exciting roles in the protession to ensure that its image isnot quite what itonce-was, So, in se you run into ‘someone wearing a Future accountant’ T-shirt, think before you congratulate them on their irony, They might ust be setious 85 7 | Financial contra! eee Snr unc Discussion El Work in pairs, Discuss the following questions. 1 How do you keep track of your personal finances? Do you keep accounts, use a computer programme to track your income and expenditure, or simply look at yout bank statement? 2. Do you know today whether you are in credit or in debt? Financial documents Ei Match the three main accounting documents 1-5 with the best description a-c profit and loss account balance sheet cash flow statement to indicate inflow and outflow of money over a specific period, in particular to make sure itdoes not run out to show managers whether a business made or lost money over a specific period © to provide a snapshot of a business's value at a particular point in time, showing what it has and what it owes EX Match the three main types of accounting document to the simplified examples below. ‘Why are some numbers listed in brackets? 2008 ‘April 1 2008 ‘Cash receipts (a) Assets Cash sales -€175,000 Current assets (e) Loans 40,000 Cash £75,000 “Total cash receipts €215,000 “Accounts recsvable 150,000, Cash payments (b) ‘Total current assets €225,000 Rent £102,000, Fixed assets () Seale payee eso ua cies otal aut ‘ “otal fied assets £150,000 DE 2g “Total assets +€575,000, ° Liabilities (2) ee ‘Current liabilities Net sales (¢) 250,000 ase ae tenes Cost of sales (80,000) Payroll 125,000 aaron ceo ‘otal curren abilities €225,000 Selling, general, and Long.term liabitties administrative expenses (65,000), Loans repayable 50,000 105,000 ‘otal long-term habilites £50,000, 20,000 ‘Total liabilities £275,000 125,000 Net assets (h) 100,000, (25,000) ‘Owners’ equity (i) £100,000 100,000 El Complete the sentences below with terms from the accounting documents labelled a-f 1 A business's are the sums that it will have to pay at some time in the future, such as loan repayments oF taxes All funds going out of a business in a specific period are known as_ ‘The amount of profit after general running costs are deducted is known as, Businesses often have money in the bank or money owed to them, known as ‘The total income from all of a business's normal trading activity is known as All money coming into a business in a specific period is known as ‘Some things that a business owns cannot be turned easily into cash: these things are its, ‘The difference between what a business owns and what it owes are its _which are equal to the 24 TheBusiness eens prey eae forthe Keywords Financial statements beginners guide fins further information bout the main financial Statements Which site resents the statements frost clearly? compare ovr findings and vote for tne bes site — i Match each ofthe accounting categories 1-6 with the examples aL depreciation plant and machinery aww materials accounts payable payroll extraordinary income CCherubs pre-school nursery employs five carers who get paid weekly Focal photography shop owes €3,000 to its suppliers. Speedier deliveries owns six vans. Last year, the resale value of each van fell by 20 per cent. Jonson manufacturing has just raised €1.6 million from the sale of part ofits site Stronglite engineering has a small factory with a range of heavy-

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