Ex.9. Fill in the missing prepositions

Ex.8. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian.

1. There was … in US exports overseas last year.

2. … in the stock market scared investors.

3. She … all the financial records for the law firm.

4. The boss … the quality of her employees’ work.

5. In a recession, there are often mass … of factory workers.

6. … does the accounting for a business.

7. We calculated the total profit at the end of the … period.

8. My friend got a degree in ….

9. The cash register … the purchase and printed a receipt.

10. In Great Britain, the term for CPA is ….

11. Private and government accountants usually work on a … basis.

12. CPAs who offer their services to the public on an individual consultant basis are paid ….

	fees, salary, chartered accountant, recorded, accountancy, accounting, a CPA, layoffs, monitors, handles, the decline, a growth.

It is difficult … a firm to plan … the future when the managers do not know where the firm stands financially. Accounting is the primary means … which financial information … a firm is communicated. Accounting can provide answers … interested persons both … the firm and … the firm. The balance sheet and the income statement are two basic statements used … making many decisions concerning a firm’s operations. … analyzing these two statements, a firm can answer many questions … its profitability, short term financial position, activity levels, and long-term debt obligations.

Business firms may hire their own private accountants, or they may use the services … a public accounting firm.

(of, for (2), by (2), about (2), in, to, within, outside)

Exercises in Comprehension

Ex.1. Answer the following questions:

1. What does accounting offer a qualified person?

2. Why is accounting a basic and vital element in every modern business?

3. What is the field of accounting divided into?

4. What is a certified public accountant? What is the British equivalent?

5. What do CPAs receive fees for?

6. Who can CPAs perform work for?

7. What are private accountants responsible for? Are they paid a fee?

8. What areas does a government accountant deal with?

9. Why do salaried accounting jobs offer security?

10. Do CPAs have any advantages over other accountants?

Ex.2. Sum up what you remember about:

s CPAs;

s private accountants;

s government accountants.

Grammar Revision

Modal Verbs. Obligation and Necessity. must, have to, should, ought to, need 1. a) Must is used for strong obligations: s rules or laws Investors must pay taxes. s advice or recommendations You must take your medicine regularly if you want to get better. s obligations that the speaker imposes on him or herself I must get up early tomorrow.

b) Mustn’t is used to express strong disapproval, or that something is prohibited You mustn’t smoke.

2. a) Have to is used when the obligation comes from someone else or an external authority. You have to wear a uniform – that is the company rule. b) Don’t have to is used to express the idea that there is no law, rule or requirement to make you do something. I don’t have to get up early on Sundays.

3. a) Need, need to is used to talk about necessities, rather than obligations I need to get my hair cut. b) Needn’t expresses the speaker’s opinion that something isn’t necessary You needn’t fill in the form; the receptionist will do it for you.

4. Should, ought to are used to express milder obligations; they are often used when giving advice You should always keep receipts when you buy clothes.

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