Business English Exercise | Topic: English for Accounting 1

Designed to teach you accounting, bookkeeping, and other vocabulary for financial
record keeping, while polishing your grammar skills. Although it's meant for ESL
students, it'll be useful to anyone who wants to practice this specialized vocabulary.

QUESTIONS:
(Choose the best response for each one)

1. I _________3_________________ our profits for the previous accounting period.

called
gathered
calculated

2. Your job will be to ______2____________________ and maintain financial records.

promise
prepare
make

3. An accounting period is a period of time over which ___2_______________________

are calculated.
prophets
profits
profiteering

4. Accounts _________________1_________ refers to the money that is owed to the

company by its clients/customers.
receivable
receptive
respected

5. To accrue means to accumulate or ________3_________.

decrease
 regret
increase

6. My house has _______________1________ ( = increased in value) by 10% in the past

9 months.
appreciated
depreciated
approximated

7. I indicated all the accrued expenses on your balance _______1________________.

sheet
paper
note

8. These expenses are typically _________________3_________. ( = they occur

regularly)
pragmatic
prodigal
periodic

9. Another word for accounting is ________________2__________.

finance
bookkeeping
money counting

10. A good accountant will help you keep _______1__________________of your

business's finances.
track
trace
score

The use of this lexical approach is essential for successful language acquisition in English
for Specific Purposes. However, teachers are often not equipped with the exact English
terminology required in very specific trade sectors. For this reason, core vocabulary
sheets go a long way in helping teachers provide adequate materials for students with
English for Special Purposes needs.

These core vocabulary reference sheets provide between 150 and 240 key words and
phrases for each industry. Each series is divided into three pages that, when combined,
form an alphabetical list. In taking this lexical approach to attaining key vocabulary,
students should be encouraged to translate the specific words and phrases into their native
tongues as each phrase has a very specific translation in each language.

accelerated depreciation
account book
accounting - book-keeping
accounting criteria - accounting standards
accounts payable
accrual
accrued liability - accrued expense
accrued revenue - accrued income
actual cost
added value
adjustment
administrative expenses
advances
affiliated company
allocation of the dividend
amortization - depreciation
to amortize - to depreciate
annual general meeting (AGM)
to approve a balance
articles of association
asset
assets
assets and liabilities
assets side
assets value
associated companies
auditing - audit
auditors' certificate
balance-sheet analysis
balance-sheet consolidation
balance-sheet items
balance-sheet ratios
balance sheet
board of directors
Book Keeping loss
book profit
book value
break-up value
break even point (BEP)
budget
industrial and commercial equipment
intangible assets
interests earned
interests paid
inventories - stock
inventory
inventory accounting - stock accounting
inventory book
inventory records - stock records
inventory turnover index
inventory value
investment
invoicing - billing
land and buildings
legal reserve
liabilities
liabilities side
limited liability company
limited partner - sleeping partner
limited partnership
liquid assets
liquidity
long-term financing
loss
loss on credits
major shareholder
majority interest
majority shareholder
to make a list of inventory
to manage a company
management buy-out
memorandum of association
minority interest
minutes of a meeting
net assets
net margin
net profit
non-taxable income
on first call
one-man business