1.

Trainee accounts
1
Accountants who are studying for professional examinations.
Bookkeepers
Administrative staff responsible for giving administrative support 2of a business’s
financial activities.
Tax accountant
An accountant Specializing 3in a company’s tax affairs
Back-office manager
Person in charger of the staff responsible for Processing 4to the Finance department.
Internal auditors
Employess of a company who are responsible to inpect its accounts 5.
Eksternal auditors
People employed by an outside firm of accountants and hired by a company for
inspecting its accounts 6.

4. Here are some mixed-up phrases from the conversation. Re-order them so that they
make sense.

Now fill in the gaps with a suitable word from the box.
1. You’re absolutely right.
2. Would you like to start by telling me a little about your experlence?
3. I guess you know that I studied economics in New York.
4. And then I’ll fill you in on our group.
5. Your C.V. is very impressive.
6. But that’s not a bad thing.
7. We’re fairly international here now.

5. Make two list. In the first, write down topics which would be safe to talk about with
a foreign business patner. In the second, write down unsafe topics. Compare with a
partner.

Safe Topics

Stars an online business. Being a businessman is actually the dream of many young people in the
country,considering that their way of thinking is still very idealistic. But in reality,there are still many young
people in Indonesia who are afraid of the risk of failure from being an entrepreneur and eventually giving up
and choosing to become an office employee. indeed their fears are based pn logical reasons. But without risk,
even success is fictional. Failure is a core part of success itself. There is a sayingthat says “there is no growth
in thw comfort in the growth zone”. For that reason, don’t ever be afraid of failure, because success achieved
Unsafe topic:

The increase online stores in Indonesia is still a hot topic among the special youth communitythat is indentical
with instant things without spending a lot of energy in meeting needs.

7.What do following abbreviations mean? Check your answers in the article below.

GAAP is derived from the pronouncements of a series of government-sponsored accounting

entities, of which the Financial Accounting Standards Board (FASB) is the latest. The Securities
and Exchange Commission also issues accounting pronouncements through its Accounting Staff
Bulletins and other announcements that are applicable only to publicly-held companies, and
which are considered to be part of GAAP. GAAP is codified into the Accounting Standards
Codification (ASC), which is available online and (more legibly) in printed form.GAAP is used
primarily by businesses reporting their financial results in the United States. International
Financial Reporting Standards, or IFRS, is the accounting framework used in most other
countries. GAAP is much more rules-based than IFRS. IFRS focuses more on general principles
than GAAP, which makes the IFRS body of work much smaller, cleaner, and easier to
understand than GAAP. Since IFRS is still being constructed, GAAP is considered to be the
more comprehensive accounting framework.There are several working groups that are gradually
reducing the differences between the GAAP and IFRS accounting frameworks, so eventually
there should be minor differences in the reported results of a business if it switches between the
two. There is a stated intent to eventually merge GAAP into IFRS, but this has not yet occurred.
Given recent differences of opinion arising during several joint projects, it is possible that the
frameworks will never be merged.

IFRS is short for International Financial Reporting Standards. IFRS is the international
accounting framework within which to properly organize and report financial information. It is
derived from the pronouncements of the London-based International Accounting Standards
Board (IASB). It is currently the required accounting framework in more than 120 countries.
IFRS requires businesses to report their financial results and financial position using the same
rules; this means that, barring any fraudulent manipulation, there is considerable uniformity in
the financial reporting of all businesses using IFRS, which makes it easier to compare and
contrast their financial results.IFRS is used primarily by businesses reporting their financial
results anywhere in the world except the United States. Generally Accepted Accounting
Principles, or GAAP, is the accounting framework used in the United States. GAAP is much
more rules-based than IFRS. IFRS focuses more on general principles than GAAP, which makes
the IFRS body of work much smaller, cleaner, and easier to understand than GAAP.
The International Accounting Standards Committee (IASC) is an independent private-sector
organization that in its own words is a "body working to achieve uniformity in the accounting
principles that are used by businesses and other organizations for financial reporting around the
world." As stated in its constitution the IASC's goals are to "formulate and publish in the public
interest accounting standards to be observed in the presentation of financial statements and to
promote their worldwide acceptance," and to "work for the improvement and harmonization of
regulations, accounting standards and procedures relating to the presentation of financial
statements." The IASC was founded in London in 1973 and by 1998 its membership included
143 accounting organizations representing 2 million accountants in 103 countries.The IASC is
not the first organization on either a national or international level to attempt the harmonization
of accounting standards. The English Institute of Chartered Accountants in 1942 and the
Committee on Accounting and Auditing Research of the Canadian Institute of Chartered
Accountants in 1946 studied harmonization on the national level; the Accountants International
Study Group—which was sponsored by British, American, and Canadian professional
accountants—viewed standardization from a global perspective and compared the accounting
practices and procedures of the three countries. In 1977 the International Federation of
Accountants was established by IASC members, and is closely allied with the IASC.

8. Use word from each box to make word patnerships. The match them to the
definasions below.

1. A film that sells its shares to ayone who wants to buy them
(company)
2. For example, Australia, the U.K, and the U.S.A
(countries)
3. The way that most people do something.
(English speaking)
4. The rules and regulations which state how accountants operate in a particular place.
(standars)
5. People or groups who are not involved with the company.
(outside)

9. The article mentions four basic principles of accounting. Match them to the the
definitions below. Then check your answers in the glossary (page58).
 1. costs
2. sales
3. profit
4. Devidend price

10. The use of this principle raises the top of the accounting product so it does not cause
differences or problems. In addition, financial statements as accounting products must be
read and understood by all parties. Therefore there is a need for uniformity in accounting
procedures. Different countries also differ the principle of accounting. It was adjusted to
the needs and other factors that exist in each country. In Indonesia, accounting principles
are regulated by IAI or the Indonesian Accounting Association, the body that regulates
accounting rules and policies that apply in Indonesia.

11.