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Anglistics Study Programme Business English 2 Week 9 Anglistics Study Programme www. singidunum. ac. rs/admission
Anglistics Study Programme Accounting and Financial Statements Discussion • different types of accounting and financial statements • a company’s financial results Vocabulary • basic accounting words (revision) • different types of accounting and the different branches of the accounting profession
Anglistics Study Programme Accounting and Financial Statements Vocabulary • Financial statements (revision) • Common word combinations in the accounting profession Reading: Google Inc. Balance Sheet intangibles, accrued expenses, total receivables, equivalents
Anglistics Study Programme Accounting and Financial Statements Vocabulary • Intangible assets - something valuable that a company has that is not material, such as a good reputation • Accrued expense - an amount of money that a business owes in a particular period which it records in its accounts but that it does not pay in that period: The company's accrued expenses for the environmental clean-up amounted to $118 million. • Accrued interest - interest for a particular period that has not been paid or received: The loan of $62, 500 plus accrued interest was repaid in full in September.
Anglistics Study Programme Accounting and Financial Statements Vocabulary • Deferred - delayed until a later time: deferred bonuses/ compensation/charges • Receivables/accounts receivable - amounts owed by customers to a company at a particular time and not yet paid: The company improved the management of its receivables by getting customers to pay faster. • Payables/accounts payable - money owed for goods and services that has not yet been paid: The balance of trade receivables and trade payables provided £ 4 million operating cash.
Anglistics Study Programme Accounting and Financial Statements Vocabulary • Retained earnings (also retained profit or accumulated earnings) - the part of a company’s profit in a particular period that it decides to keep, rather than paying it to shareholders as a dividend: PNC had retained earnings of $302 million that can be used to help make debt payments or be reinvested in the company. • Goodwill - the difference between the value of a company's assets and what profit it is expected to make in the future, which is included in the price paid when it is bought or sold: We expect the business to raise at least $100, 000 in goodwill.