UNIT 3

Accounting

Condition-state Future

prospects Measure-gauge Performance Financial Be guided BY sth.-be performance led by sth. Record (v.) - note Fundamental-basic Classify- sort Sales- PLURAL Concept-idea Purchase-buying, the The accounting goods bought equation Transaction Double-entry Provide-give, supply bookkeeping Way-means, method Delevop-evolve Present (v.)-show Remain-stay

 Government Assets Liabilities Valuable-worthy Owe Wealth-richness Consist

Basis-pl.

OF sth- be comprised of sth Deduct-subtract Owners equity Observation-notice, reflection, watching

basesfoundation Place (v.)-put Creditor-poverilac Have first claim Leftover-remnant Belong IN case OF Owner Shareholder To keep sth IN balance

 Make

a transaction Properly-adequatly Require-request, demand Entry Accumulate Sort out-classify, separate Simplify-make simpler Prepare-get ready Financial statement Summarize- sum up, recap

Balance

sheet Income statementprofit and loss account Snapshot Financially speaking Include sthencomapass sth. AT least Fiscal year ON the one HAND ON the other HAND Section Be divided INTO sth Current assets-obrtna, tekuca sredstva

 Fixed

assets Intangible assetsnematerijalna imovina, sredstva List (v.) name, enumerate Cash Stock Bond Turn (sth.) INTO sth Due- debt Expect to do sth.

Useful

life-korisni vek trajanja ON a process Comprise sth-include sth., encompass sth. Convert sth. INTO sth.- change sth into sth. Property Equipment Invention Copyright

 Trademark

Revenue-income,

earnings Reputation Amount Current liabilities Receive-get-obtain Long-term liabilities- Customer Obligation-duty Deliver-render, give Meet an obligation Expense Fall due-dospevati za Arise-happen, occur placanje Generate revenues Reflect-express, create show, reveal Subtract-deduct The result OF sth. Net income Movie-film Bottom

 Operating

performance Auditor OVER a period of time Records- data Pay FOR sth. Express- show future (adj.)-prospective Opinion attitude, Outside (adj.)-external view Flow IN vs. flow OUT Fairness-correctness Represent stand for Adherence TO sth. Detail (v.) attachment, Reconcile harmonize, obedience balance, conciliate Adhere obey Auditing (n.) Beneficiary donee, Separate (adj.)-individual receiver

Examine

look into

 Handle

sth. deal with

sth. Vast broad, great Majority vs. minority Publicly (adv.)