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Samenvatting English for accounting

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Samenvatting English for accounting (17/20).

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  • April 29, 2024
  • 48
  • 2023/2024
  • Summary
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English for
accounting




Samenvatting:
English for accounting
2023-2024

2AF
Lector P.

,Inhoudsopgave
1. Business vocabulary and idioms .......................................................................................................... 4
What is accounting? ............................................................................................................................................. 4

Vocabulary............................................................................................................................................................ 4

Business idioms .................................................................................................................................................... 4

Exercice................................................................................................................................................................. 4

2. Strategic reading ................................................................................................................................ 5
How to study - 6 tips? ........................................................................................................................................... 5

4 reading styles..................................................................................................................................................... 5

How to read texts intensively? ............................................................................................................................. 5

Strategic reading: how to: 5 steps ....................................................................................................................... 5

3. Effective writing ................................................................................................................................. 6
What is a summary?............................................................................................................................................. 6

Summary essentials .............................................................................................................................................. 6

5 essentials for writing a reply to a customer complaint ..................................................................................... 6

Basic conventions ................................................................................................................................................. 6

4. Teamwork.......................................................................................................................................... 7
6 essential teamwork skills................................................................................................................................... 7

Teamwork: elements of success ........................................................................................................................... 7

5. How to run a meeting ......................................................................................................................... 8
8 tips : essential elements of a meeting ............................................................................................................... 8

Vocabulary............................................................................................................................................................ 8

6. Grammar ........................................................................................................................................... 9
Linking words........................................................................................................................................................ 9

Different categories .............................................................................................................................................. 9

Common mistakes ................................................................................................................................................ 9

Gerund = ING form ............................................................................................................................................... 9

Infinitive = to + infinitive ..................................................................................................................................... 10

Gerund or infinitive............................................................................................................................................. 10

Agreement with negative or positive statements .............................................................................................. 10




2

, Agreement with neither – either ........................................................................................................................ 11

Agreement with so – too .................................................................................................................................... 11

Neither do I / So do I / I haven’t either / Me too ................................................................................................ 11

7. Biography ........................................................................................................................................ 12
The watergate scandal ....................................................................................................................................... 12

Nikola Tesla ........................................................................................................................................................ 15

Georgia Guidestones .......................................................................................................................................... 18

The Manhattan Project ...................................................................................................................................... 21

Baruch Spinoza ................................................................................................................................................... 24

Thomas Hobbes .................................................................................................................................................. 27

8. Business topics ................................................................................................................................. 30
Advertising.......................................................................................................................................................... 30

Mergers and acquisitions ................................................................................................................................... 33

The role of accounting software in minimizing business costs .......................................................................... 36

Managing long-term debt using accounting principles ..................................................................................... 39

Primary causes of the 2008 global financial crisis ............................................................................................. 42

Major changes in accounting practices over the last 20 years .......................................................................... 45

9. Extra ................................................................................................................................................ 48
Vocabulary (link)................................................................................................................................................. 48




3

, 1. Business vocabulary and idioms
What is accounting?

Accounting is a process of:

• identifying and measuring quantitative financial activities
• communicating these financial reports to the decisionmakers

Vocabulary

• To divest = to get rid of an investment, part of a business, etc. by selling: he had encouraged
the state to divest such holdings.
• To taper off = to become gradually smaller or weaker or happen less often: her voice tapered
off as she realized everyone was listening.
• Remiss = careless, not doing a duty well enough: you have been remiss in your duties.
• To hone = to make something suitable for its purpose: she honed her skills in customer
relations at Brussels Airlines.
• To pick up the slack / to take up the slack = to improve a situation by doing something that
someone else has not done or not completed: with our best player injured, other players
have to pick up the slack.

Business idioms

Business idioms = a group of words in a fixed order that has a particular meaning that is different
from the meanings of each word on its own.

Exercice

Accounting assumptions and principles

Assumption = something that is generally accepted as being true

Assumptions:

• Separate entity or business entity assumption = a business is distinct from its owners,
creditors, and managers
• Time-period assumption = economic life is divided into time periods
• Continuity or going concern assumption = a business will continue into the future
• Unit-of-measure assumption = transactions are measured in a single currency

Principles:

• Full-disclosure principle = a financial reporting must include all significant information
• Materiality principle = very small and unimportant amounts do not need to be shown
• Conservatism principle = choose accounting methods least likely to overstate assets or
income.
• Objectivity principle = accounts should be based on facts, not personal opinions or feelings
• Revenue recognition principle = Revenue is recognized when earned, not necessarily when
paid for
• Matching principle = costs or expenses related to revenue must be recorded in the same
accounting period


4

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