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107
Financial reporting is the communicating of such information in appropriately summarised form. In the
UK such summarised form is called "Accounts" In the USA it is called "Financial statements". These
accounts or statements are communicated to interested parties both within and outside the organisation.
Financial reporting provides information that is useful to present and potential investors, creditors and
other users in making rational investment, credit and other economic decisions.
Accounting is often referred to as the "language of business". And, as a direct result of the work of
accountants and auditors. A wide range of different users of financial reporting are able to answer questions
such as:
How much profit did the company make last year?
How much should I lend to the company?
Is this company more successful than its competitors?
How much can I withdraw from the company?
Was last year an improvement over the year before? etc.
Accountants are therefore those individuals specialised in the "art" of capturing the correct data, and
preparing the most meaningful financial reports from that data. They are "producers" of financial
information, which is then made available to "consumers" such as owners and lenders.
Accountants are assisted in their work by bookkeepers, who operate some form of accounting system,
usually computerised, to help capture, accumulate, categorise, summarise and report the many thousands of
transactions that affect an economic entity every year.
Words and expressions
accounting
бухгалтерский учет и от-
четность
account
счет
to define
[d
'fa
n]
определять
It can be defined as...
Это можно назвать ...
to measure
['me
]
измерять
to record
записывать, учитывать
relevant
соответствующий
data
данные, факты
datum
факт
concerning
касательно
particular
определенный
entity
['ent
t
]
юридическое лицо, орга
низация
to report
составлять отчет о
reporting
отчетность
to communicate
сообщать
communication
сообщение
information
сведения
appropriate
[
'proupr
e
t]
соответствующий
appropriately
соответственно
to summarise
суммировать
summarised
суммированный
in summarised form
в соответствующем сум
мированном виде
to call
называть
to be called
называться
statement
заявление, отчет, выпис
ка (по счету)
party
сторона
interested parties
заинтересованные сторо
ны
within
внутри, в, в пределах
both within and outside
the organisation
как внутри, так и вне самой
организации