Financial Statements I BALANCE SHEET

Financial Statements I

BALANCE SHEET


Welcome to using this material

No matter which field of business you either are in, or are preparing to join – you can mostly always be happy if you can interpret a balance sheet. Definitely, this may be regarded your cup-of-tea if you are in accounting. But even, if you are in general management or marketing, you can always have an edge when you can admit: “well, I understand it”. This is exactly what has been kept in mind while developing this online self-teaching aid on Accountancy terminology (that primarily, still, relates to understanding of and speaking about Balance Sheet items).

Like any Balance Sheet, discussion and exercises here are also focusing on the two parts or sides of the Balance Sheet: they are Assets and Liabilities + Owners’ Equity – just as it goes in the accounting formula. Either part is fragmented into sections to which the respective items of a balance sheet typically belong. Discussion in each section is followed by an exercise, where the students can check and reinforce their knowledge of the accounting concepts and terms. At the end of either part, the students can do a capstone exercise – by editing the Accounting text so as to put it into well-readable Accounting English.

This material ends up with a challenge for Estonian speakers: to translate the Balance Sheet items from Estonian into English.

Hoping that by using this material, you can also hone your knowledge on Accountancy while learning professional English that accountants use.

 

 

Õpiobjekti koostas Hans Künka, inglise keele lektor, Eesti Lennuakadeemia,
tehniline teostus Anu Roio

juuni, 2012