Tài liệu bổ trợ môn tiếng anh chuyên ngành kế toán: Tài liệu tham khảo / Ngô Thị Hạnh Quyên, Phan Lê Vĩnh Thông

ĐẠI HỌC NGÂN HÀNG TP. HỒ CHÍ MINH

KHOA NGOẠI NGỮ

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TÀI LIỆU BỔ TRỢ

MÔN TIẾNG ANH

CHUYÊN NGÀNH KẾ TOÁN

Ngô Thị Hạnh Quyên

Phan Lê Vĩnh Thông

TP. Hồ Chí Minh, tháng 04 năm 2021

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This book consists of three sections and is designed to meet the needs of students

at Faculty of Accounting and Auditing, Banking University HCMC. Its essence includes

critical reading, analysing, evaluating, and discussion of selected units of the course book

“Market Leader Accounting and Finance”. These units of lessons are chosen by the author

of the syllabus of English for Accounting, Banking University HCMC. Learners first get

exposure to fundamental accounting vocabulary. Then, they read and understand complex

passages on accountancy. Through intensive, close reading, students will understand

diverse experiences, languages, forms, and genres. It is also a discussion-centered

coursebook mandating that students have a high level of personal investment. The

objectives are for students to gain an awareness of vocabulary and knowledge on

accounting; to gain an ability to think critically and to express ideas in writing and

translation; to further develop their intellectual curiosity, and could be challenged by the

remarkable range of knowledge available through accountancy.

The material presented here borrows from many different books, including Market

Leader Accounting and Finance and English for Accounting. It is meant to serve

pedagogical purposes with careful citation and acknowledgements.

Good luck and best wishes!

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Table of Contents

INTRODUCTION…………………………………………………………………….2

Table of Contents………………………………………………….…………………..3

SECTION 1: TOPIC-BASED PRACTICE EXERCISES…………………………….4

Unit 1 – Developing Global Professionals…………………………………………….5

Unit 2 – Establishing The Profession Worldwide…………………………………….12

Unit 3 – International Financial Reporting Standards………………………………...19

Unit 4 – Annual Financial Statement……………………………………………..…..27

Unit 5 – Company Performance…………………………………………………..…..36

Unit 6 – Accounting For Banks…………………………………………………..…...42

Unit 7 – Scary Audit Jargon……………………………………………………..……49

Unit 8 – Auditor Liability……………………………………………………..………57

Unit 9 – A Clean Report…………………………………………………………..…..65

SECTION 2: SUPPLEMENTARY EXERCISES…………………………………….73

1. Text completion…………………………………………………………….………74

2. Reading comprehension ……………………………………………………………88

3. Sentence completion ………………………………………………………..…….122

4. Translation ………………………………………………………………………..128

SECTION 3: ………………………………………………………………..……….135

SUGGESTED ANSWERS………………………………………………….………136

GLOSSARY…………………………………………………………………………177

REFERENCES………………………………………………………………………189

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SECTION 1

TOPIC-BASED

PRACTICE EXERCISES

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UNIT 1: DEVELOPING GLOBAL PROFESSIONALS

I. VOCABULARY

1.1 Choose the correct word/phrase for each definition/explanation.

1. preparing a person's or company's financial information in order to calculate the

proportion of their profit which they must pay to their government.

A. insolvency B. tax accounting C. net income D. accounts receivable

2. checking an organization's activities or performance or examining a person's or

organization's accounts to make sure that they are true and honest.

A. auditing B. accounts payable C. coaching D. relationship skill

3. a situation in which a person or a company does not have enough money or assets to

pay their debts.

A. employee appraisal B. creditor C. tax accounting D. insolvency

4. the ability to move easily from one place to another

A. capital market B. profession C. mobility D. accountancy

5. connected with or controlled by a group or organization

A. certified B. affiliated C. chartered D. international

1.2. Match the words/phrases in the box with their definitions. There are THREE

extra words.

adoption appraising barrier forensic accounting

bookkeeping mobility inward investment forensic accounting

1. something that prevents something else from happening or makes it more difficult

________________

2. money that is invested in a particular country from outside it

________________

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3. when a company's financial records are officially checked in order to find out if there

has been any illegal activity.

________________

4. estimating the value, condition, quality, etc. of someone or something after a careful

examination

________________

5. the process of starting to use a new method, system, law

________________

1.3 Use the correct words /phrases in the box to complete the gaps.

affiliated insolvencies aid

forensic inexhaustible

1. She hired an expert in ______________ accounting to find out whether her ex-husband

is hiding some of his wealth.

2. A/An ______________ retailer bought the product at the official prices.

3. Analysts are predicting that corporate and personal ______________ could start rising

next year.

4. There is a nearly ______________ supply of people willing to buy those homes.

5. The government has already appealed for 800,000 tonnes of food ______________ to

feed its starving population.

II. TEXT COMPLETION

2.1 Complete the gaps with the correct words/phrases in the box. There are four extra

words that you do not need.

goodwill financial accounting organizations accountancy

bookkeeping internal audit tangible assets auditing

accounting management accounting transactions recording

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ACCOUNTING

______________ (1) involves ______________ (2) and summarizing an

organization’s ___________ (3) or business deals, such as purchases and sales, and

reporting them in the form of financial statements. In many countries, the accounting

or ___________ (4) profession has professional organizations which operate their own

training and examination systems, and make technical and ethical rules: these relate to

accept ways of doing things.

___________ (5) is the day-to-day recording of transactions.

___________ (6) includes bookkeeping, and preparing financial statements for

shareholders and creditors - people or ___________ (7) who have lent money to a

company.

___________ (8) involves the use of accounting data by managers, for making

plans and decisions.

(Professional in use Finance, Ian MacKenzie, Cambridge University Press)

2.2 Read the passage and choose the correct words/phrases to complete the gaps.

THE FUTURE OF ACCOUNTING

The traditional view of ___________ (1) as merely 'bean counters' is slowly

becoming a thing of the past. For centuries, accountants have been employed to report on

the numbers. They have sat there in their little corner, surrounded by stacks of paper and

computer printouts, and have told us whether or not we have made___________ (2). But

more and more, accountants are finding that___________ (3) doesn't need them to report

on the numbers. With today's technology, management already has access to software

programs which do this work for them.

So what will the future accountant do? According to Mr. Hamilton-Smythe, the

Managing Director of KHZ Enterprises, the large ___________ (4) manufacturing

company, accountants will be employed "to help companies change the numbers. Their

expertise, and knowledge of the business will be called upon to prepare___________ (5).

They will become consultants and advisers. And their skills will need to change

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accordingly. They will be ___________ (6) in international meetings, giving

presentations, running international teams, writing reports, and making decisions."

This is going to require a significant change in the general public's opinion of

accountants, who in turn will need to develop skills not traditionally ___________ (7)

with the job. The image of the guy in the corner with the stacks of paper will change to

one of a high flyer, someone who is to the success of the___________ (8) .

(English for Accounting)

1. A. accountants B. accountancy C. auditor D. account

2. A. interest B. report C. profit D. number

3. A. management B. authority C. trainee D. senior

4. A. local B. regional C. international D. national

5. A. statements B. policies C. rules D. strategies

6. A. involved B. called C. provided D. made

7. A. associated B. responsible C. affiliated D. corporate

8. A. strategy B. organization C. community D. institute

III. READING COMPREHENSION

3.1 Read the following passage and answer the questions.

I am currently looking for an opportunity to use the accounting skills I learnt in my

college. I have recently completed a 16-week part-time accounting course (AAT Level 2

Certificate). The course covered book-keeping, recording income and receipts and basic

costing. We used a wide range of computer packages, and I picked up the accounting skills

easily. I was able to work alone with very little extra help. I passed the course with merit.

I believe my success was due to my thorough work, my numeracy skills and my attention

to detail. During the course, I had experience of working to deadlines and working under

pressure. Although this was sometimes stressful, I always completed my work on time.

Unfortunately, the course did not include a work placement, so I have not practised

my skills in a business setting, and I am now looking for an opportunity to do so. I am

particularly looking for a job in a small company such as yours, as I believe I will be able

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to interact with a wider range of people, and as a result, learn more skills. I would like to

progress within a company and gain more responsibilities over the years.

Although I do not have work experience in finance, I have experience in working in

an office environment. Before starting the accounting course, I worked for 6 months in a

recruitment office as a receptionist. My duties involved meeting and greeting clients and

visitors, taking phone calls, audio and copy typing and checking stock. I also had to keep

the petty cash and mail records. Through this work, I developed my verbal and written

communication skills. I had to speak confidently to strangers and deliver clear messages.

I enjoyed working in a team environment. I believe the office appreciated my friendly

manner and efficient work.

(https://www.examenglish.com/B1/b1_reading_job_application.htm)

1. What is the writer’s job at the moment?

_______________________________________________________________________

2. What is true about the writer?

_______________________________________________________________________

3. Where the writer is applying for a job

_______________________________________________________________________

4. How much time did he spend on learning accounting?

_______________________________________________________________________

5 Which skills did he NOT gain from the accounting course?

_______________________________________________________________________

3.2 Read this email on creative accounting, and then circle if the statements below

are true [T]or false [F]

Subject: Creative accounting

From: Rupert Greene [email protected]

To: Javier Estrada [email protected]>

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Hi Javier

At our meeting yesterday you asked me to send you some background info on

creative accounting, and in particular off-balance-sheet accounting.

Basically there's quite a bit of flexibility in the way we can interpret the standards

and principles of accounting. For example, we may want to report bigger profits so that

we can attract investors on the capital markets. On the other hand, smaller profits may

be better so that we pay less tax. The problem is that the line between truthful and

misleading representation of figures is sometimes very thin, and this is where people

get into trouble.

Off-balance-sheet accounting is seen by some as one type of creative accounting.

(People have been arguing about it for years, thought). The key point to remember is

that the accounting treatment of legitimate business transactions can vary greatly. For

example, many companies are involved in leasing for business reasons, and the

question for the accountants is how to present the financial implications of such leases

in the accounts. In theory, the idea is that leasing an asset (instead of buying it) allows

the company to exclude the liability from its accounts.

Hope this helps - give me a call if you have any more questions.

Best wishes

Rupert

(English for Accounting)

1. Accountants agree that creative accounting is a good thing. T/F

2. Creative accounting is sometimes used to try and attract more investors. T/F

3. Accountants are allowed some flexibility in the way they present accounts. T/F

4. Big profits mean paying less tax. T/F

5.When a company leases an asset, the accountant doesn't have to include it in the

accounts. T/F

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IV. TRANSLATION

Translate the following sentences into Vietnamese.

1. Accountants need to deal with clients, so it is important for them to have relationship

skills as well as technical ones.

_______________________________________________________________________

_______________________________________________________________________

2. To support its members, IFAC sets very broad standards for education programs,

including continuing professional education and lifelong learning.

_______________________________________________________________________

_______________________________________________________________________

3. The company was suspected of being dishonest in its financial reporting, so the

forensic accountants were called in to investigate its dealings.

______________________________________________________________________

______________________________________________________________________

4. Accountants need to develop employee appraisal skills in order to give appropriate

feedback to the teams they manage.

______________________________________________________________________

______________________________________________________________________

5. Accountants who are employed by accountancy firms usually specialize in very specific

areas such as auditing, taxation or forensic accounting. Naturally, each specialism has

different training requirements.

______________________________________________________________________

______________________________________________________________________

V. SENTENCE COMPLETION

Complete the sentences with your own words. Write between 6 and 15 words.

1. Strategic and managerial skills can _________________________________________

_______________________________________________________________________

2. Emerging markets _____________________________________________________

_______________________________________________________________________

3. Good training can make _________________________________________________

_______________________________________________________________________

4. With a qualified accountancy profession, developing countries _________________

______________________________________________________________________

5. IFAC provides ________________________________________________________

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UNIT 2: ESTABLISHING THE PROFESSION WORLDWIDE

I. VOCABULARY

1.1 Choose the correct word/phrase for each definition/explanation.

1. business activity in which two or more companies have invested together

A. joint venture B. accountancy firm C. partnership D. academics

2. official organizations which represent people of a particular profession

A. accountancy bodies B. chartered accountants

C. chamber of auditors D. competitors

3. in the UK, a person who has finished three years of work and training and passed an

examination to become a member of the Institute of Chartered Accountants

A. regulator B. chartered accountant

C. government official D. chartered Institute

4. a self-governing professional organization for the purpose of regulation of the audit

profession

A. government officials B. accountant Institutions

C. chamber of auditors D. chamber of commerce

5. the person with the most important position in a company or organization

A. accountant B. auditor C. Chief Executive D. regulator

1.2. Match the words/phrases in the box with their definitions. There are THREE

extra words.

auditing regulator reputation shift

IFRS tax accounting chartered accountant employer- led

1. to move something to a different place or position

_________________

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2. one of the standards created by the International Accounting Standards Board, which

explains how company accounts must be recorded or shown

_________________

3. heavily influenced by employers

_________________

4. the opinion that people have of someone or something, based on past behavior or

character

_________________

5. a person or an organization who is chosen by the government to be responsible for

making sure that an industry or system work legally and fairly

_________________

1.3 Use the correct words /phrases in the box to complete the gaps.

outsource host development

partnership adopted

1. The organization will ______________ a conference about how to cut corporate crime.

2. The company has formed a / an ______________ with a US marketing firm to try to

break into that market.

3. Many European businesses have ______________ a management styles closer to that

of the US.

4. The decision to ______________ had been made for financial reasons.

5. The first year of the plan is primarily focused on organizational ___________

II. TEXT COMPLETION

2.1 Fill in the numbered blanks with the correct words/ phrases given in the box.

There are four extra words that you don’t need.

valuation chartered accountant provisions bondholders

consistent measurement depreciation consistency principle

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disclosed conventions accounting policies value

VALUATION AND MEASUREMENT

Investors in companies want to know how much the companies are worth, so

companies regularly have to publish the ___________ (1) of their assets and liabilities.

Companies also have to calculate their profits or losses: their managers need this

information, and so do shareholders, bondholders and the tax authorities.

Companies can choose their ___________ (2) - their way of doing their accounts.

There are a range of methods of valuation - deciding how much something is worth -

and ___________ (3) - determining how big something is - that are accepted by law or by

official accounting standards. In the USA, there are Generally Accepted Accounting

Principles (GAAP). In most of the rest of the world there are International Financial

Reporting Standards (IFRS), set by the International Accounting Standards Board. These

are technical rules or ___________ (4) - accepted ways of doing things that are not written

down in a law.

Although businesses can choose among different accounting policies, they have to

be consistent which means using the same methods every year, unless there is a good

reason to change a policy: this is known as the ___________ (5). The policies also have

to be ___________ (6) or revealed to the shareholders: the Annual Report will contain a

'Statement of Accounting Policies' that mentions any changes that have been made. This

enables shareholders to compare profits and values with those of previous years.

Areas in which the choice of policies can make a big difference to the final profit

figure include ___________ (7) - reducing the value of assets in the company's accounts,

the valuation of stock or inventory, and the making of ___________ (8) -amounts of

money deducted from profits - for future pension payments.

As there is always more than one way of presenting accounts, the accounts of

British companies have to give a true and fair view of their financial situation - meaning

there are various possibilities - rather than the true and fair view - meaning only one is

possible.

(Professional English in Use Finance)

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2.2 Read the text and choose the best option to fill in each blank.

THE ACCOUNTING PROFESSION AND CAREER

To decide to be an accountant is no more descriptive than deciding to be a doctor as

there are a variety of specialty areas. Many accountants engage in the practice of public

accounting, which involves ___________ (1) audit, tax, and consulting services to the

general public. To engage in the practice of public accounting usually requires one to

be___________ (2). In the United States, individual states issue a license called a Certified

Public Accountant (CPA). Other countries offer similar designations such as the

“Chartered Accountant.” Auditing involves the examination of ___________ (3) and

systems that underlie an organization’s ___________ (4) reports, with the ultimate goal of

providing an independent report on the appropriateness of financial statements. Tax

services relate to providing help in the preparation and filing of tax returns and the

rendering of advice on the tax consequences of ___________ (5) actions. Consulting

services can vary dramatically, and include such diverse activities as information systems

engineering to evaluating production methods.

Many accountants are privately employed by small and large businesses (i.e.,

“industry accounting”) and not-for-profit agencies (some hospitals and universities, as

well as most charitable groups and churches). They may work in areas of product costing

and pricing, budgeting, and the examination of investment alternatives or they may serve

as ___________ (6) who look at controls and procedures in use by their employer.

Objectives of these reviews are ___________ (7) company resources and assess the

reliability and accuracy of accounting information and accounting systems. They may also

serve as in-house tax accountants, financial managers, or countless other occupations.

Many accountants also work in the ___________ (8) sector, whether it be local,

state, or national levels. Accountants are employed at the Internal Revenue Service,

General Accounting Office, Securities and Exchange Commission, and even the Federal

Bureau of Investigation, among other agencies.

(https://www.principlesofaccounting.com/chapter-1/accounting-profession/)