Text A What is accounting Unit 8 Accounting Text A What is accounting

Lead-in Importance of accounting Accounting is very important to Managers Investors Lenders Suppliers Without accounting information, a firm cannot operate in a very competitive world.

Reading and researching: Analogy (类比): Para. 10 personal accounting/accountants  Para. 11 accounting on a much larger scale, in the business world

Reading and researching Analogy (类比): Managing one’s own personal accounting system Making records in check ledger Identifying one’s cash inflows and outflows Helping to make decisions on future purchases and expenses Accounting on a much larger scale, in the business world An accounting system

Reading and researching Para. 7, 8, 9: Definition of accounting, its role in the business world Definition (para. 7): Accounting is a system by which economic information is identified, recorded, summarized and reported for the use of decision-makers.

Reading and researching The role of accounting in the business world (para. 8-9): the language of business Language: the use of sounds and words to communicate  The language of business: the use of financial records to do business Tracking all of the activities of an organization Aiding decision-making

Reading and researching Para. 5: Accounting in business practice External audits by public accountants required for public companies; Tax professionals to help interpret the tax laws; Accountants to ensure the accuracy of a company’s financial records Review questions: pp. 178-179 Qs 4-6

Specialized vocabulary: pp. 179-180 Task 1 1 financial implications (para 9, L4) 2 hidden debt (para. 3, L3) 3 tax laws (para. 5, L4) 4 cash position (para. 10, last L) 5 financial policy 6 audit oversight (para. 4, last L) 7 accounting profession (para. 5, L1) 8 public company (para.5, L3) 9 financial oversight (para. 4, last L) 10 economic information (para. 7, L2)

Specialized vocabulary: pp. 179-180 Task 1 1 financial implications (para 9, L4) h 财务影响 2 hidden debt (para. 3, L3) i 隐形债务 3 tax laws (para. 5, L4) e 税法 4 cash position (para. 10, last L) g 现金头寸 5 financial policy j 金融政策 6 audit oversight (para. 4, last L) c 审计监督 7 accounting profession (para. 5, L1) d 会计职业 8 public company (para.5, L3) a 上市公司 9 financial oversight (para. 4, last L) b 金融监管 10 economic information (para. 7, L2) f 经济情报

Specialized vocabulary: pp. 179-180 Task 1 Fill in blanks: 1 External audits 2 accounting rules 3 an accounting system 4 cash inflows and outflows 5 public accountants 6 checking account 7 deposit and withdrawal 8 financial records

Formal English: p. 182, Task 3 1 mocked; weakening 2 discussed; commentators 3 collapse 4 damaging 5 view 6 promised 7 analysed 8 account