Lee aquí la
historia de la empresa en la cual vas a
trabajar durante 15 días.
Realiza todas las
actividades de cada día de trabajo y
consulta las respuestas.
tu examen final únicamente cuando hayas
completado las 15 lecciones de este curso.
In this first step, you will read carefully the presentation of this
unit (phrasal verbs have been highlighted in yellow). A full
glossary below will help you understand it better. To get
information in Spanish, just place the arrow of your mouse on any
highlighted word without clicking.
Every year the
of a limited company must be approved by
accountantswho belong to a
Chartered Accountants or
Corporative Accountants association. They act on behalf of the
shareholders. Their duty is to
ensure that the directors are reporting correctly on the state of
affairs of the company and, if so, give a
certificate to the company.
They do not judge whether the directors are managing the company
efficiently or not. That is something the shareholders must judge
Harper & Grant have their
accounts audited by independent auditors in no way connected with
Buckhurst, as Company Secretary, is responsible for seeing that the
books and records for the period in question are ready for checking.
And, of course, it could make a bad impression if
the accounts department was not able to supply immediately any
information wanted by the auditors. There exist several important account books, such as: the
cash book and the
petty cash book.
What precisely do the auditors check? They have to be satisfied that
everything which goes into making up the
Profit Statement, the
Balance Sheet and the
Directors' Report is correct.
The Profit Statement (sometimes called a Trading and Profit and Loss
Account) shows how the profit for the year is arrived at. It starts
with net sales or income, and deducts the cost of materials, work
and overhead charges. This leaves a
trading surplus, from which
charges, such as
depreciation on plant and
buildings, auditors' fees, and administration and selling costs must
be deducted to produce the net profit (or loss).
The Balance Sheet is a summarised statement showing the amount of
funds employed in the business and the sources from which these
funds are derived. On one side is listed the capital employed, which
usually consists of the issued share capital plus reserves and
retained earnings. This starts with the total cost of its fixed
(land, buildings and machinery) and any trade investments (interests
in other companies), followed by a breakdown of net current assets
(that is, cash and stocks, plus what the firm is owed by its
customers, less its
liabilities, or what it owes to
others). The totals on the two sides of the Balance Sheet must
agree; that is, come to the same figure. The total
dividend to be paid for the year
is a current liability, and is therefore an item in the compilation
of net current assets.
One of the most difficult jobs in preparing accounts is stock
valuation; that is, putting a
value on all goods in the hands of the company. It may seem easy, as
goods could be counted, and then the price paid for them could be
checked against the suppliers' invoices. But the value of
commodities (e.g. copper) often fluctuates. Furthermore, much of a
company's stock will consist of work in progress or finished stock,
and the volume of all stock is changing daily, if not hourly. The
rule for stock valuation is that it should be taken at cost price or
market price, whichever is the lower.
So far we have seen only one case of dishonesty in Harper & Grant,
when a clerk in the Sales Department took some cash left lying on a
desk. Unfortunately, there is always a temptation to people handling
money all the time to attempt, in a weak moment,
a fiddle which they feel will not be noticed. If they
get away with it
they may well be tempted to do it again, or make a regular practice of
it, perhaps on a larger scale.
GLOSSARY: accounts (or books):
the detailed record of a firm's business, transactions.
Nominal accounts usually refer to the record of the various kinds
of expense (rent, wages and salaries, advertising, etc.), income,
profit or loss, or to the general division of accounts into separate
Real accounts relate to tangible things, ie. land, buildings,
machinery, furniture, vehicles, cash.
Personal accounts are the record of business with firms or people,
ie. the suppliers (who are called creditors) and the
(cuentas o libros contables);
who are called in on behalf of the members (shareholders) of a company
to examine and report upon the accounts of the company
accountant: someone who maintains and audits business accounts
chartered (or qualified) accountant: an accountant who is a member
of a professional body that has a royal charter
(contador público, perito contable);
shareholders (UK) = stockholders (US):
those who own shares in a company
certificate: a formal declaration that documents and figures in
the company are correct
the most important account book, since all transactions are recorded
in it. It is often divided for the sake of convenience into: a
sales ledger, list of goods or services supplied; a bought
ledger, a list of goods or services purchased; a general
ledger, list of property, such as machinery, vehicles,
buildings, etc. (real accounts) and expenses, income, etc. (nominal
accounts); and a
private ledger, which is confidential and records items such as
capital, loans, mortgages, directors' salaries and awards, etc.
where all cash transactions are recorded
(Libro de Caja);
petty cash book:
the record of payments made from a small cash float, which is used to
pay for such items as stationery, stamps, cleaning, taxis, etc.
(Libro de Caja Chica o Gastos Menores);
Profit Statement (also called Trading
summary of all the income and expense accounts (nominal accounts) at
the end of the accounting period. The balance of this account
represents the net profit or loss for the period
(Estado o Cuadro de Ganancias y Pérdidas);
a statement of the company's position on a certain date. It shows the
assets and the liabilities, and the capital on that date
this comments on the profit or loss made during the accounting period
and makes recommendations on the dividend to be paid. This has to be
approved at the annual general meeting of the shareholders
(Informe de Directorio);
trading surplus: excess; a quantity much larger than is needed
(excedente o superavit operativo);
reduction in value owing to use. For example, the value
of furniture, lamps, wall lights, etc., in a home (known as fixtures
and fittings) depreciates in value every year
(depreciación, reducción del valor de origen);
property, stock, cash in hand
money owed, debts, ie. what one is liable to pay
(pasivo, obligaciones a pagar);
the sum distributed to the members of a company out of
profits of the company
valuation = appraisal, assessment:
process of deciding the value of something;
the value of the store of goods available for sale
a slang term for
a small cheat or dishonest action
get away with it: be successful; to
without being caughtor
(lograr su objetivo, salirse con la suya).
SOME ADDITIONAL ACCOUNTING TERMS
the person responsible for keeping the records day by day
(perito mercantil, tenedor de libros, contable).
way in which the details of all business transactions are recorded
(contabilidad, tenduría de libros).
a written record of a commercial transaction
items recorded in an account book, on the left-hand side, recording
receipts, assets, losses and expenses
(débitos, partidas registradas en el Debe).
called entries, made in an account book recording payments,
liabilities, profits and income. These entries are written on the
(créditos, partidas registradas en el Haber,
a summary of a credit which the supplier agrees a customer is entitled
to. The most frequent reason would be return of goods which the
supplier sent in error. The value of a credit note is credited
to the customer's account with the supplier
(nota de crédito).
method of showing that every business transaction has two aspects, ie.
materials or goods purchased on credit are a liability on the
firm to pay the supplier later, but at the same time they are an
asset, as at some time the materials will be used for manu-facture
and then sold, or the goods purchased will be resold
(partida doble, en contabilidad).
sum of money which is kept on hand, easily available
a record of only one side of a business transaction, as
used in day books, sales books, etc., showing the single item of
debit or credit
in book-keeping to post means to transfer items from subsidiary
account books to the ledger, or ledgers
(asentar, contabilizar en el Libro Mayor).
Listening for Gist
In this second step, you will listen through this conversation.
Don't worry about understanding every word they are saying. Now,
just relax, start listening to the audio file and try to understand
the general meaning.