Unit 21What is accounting

GROUP 3
UNIT 21: WHAT IS ACCOUNTING
I. VOCABULARY
Numbe
r
Word and
phase
Transcription Meaning Example
1. Exhibit
(n)
/ɪɡˈzɪbɪt/ A thing that is
used in court to
prove that
somebody is
guilty or not
guilty – văn kiện,
giấy tờ
The first exhibit
was a knife
which the
prosecution
claimed was the
murder weapon.
2. Illustrate
(v)
/ˈɪləstreɪt/ to use pictures,
photographs,
diagrams, etc. in a
book, etc. – minh
họa
His lecture was

illustrated with
photos taken
during the
expedition.
3. Obligation
(n)
ˌɒblɪˈɡeɪʃn the state of being
forced to do
something
because it is your
duty, or because
of a law, etc.
Nghĩa vụ
She did not
feel under any
obligation to tell
him the truth
4. Necessary
(adj)
ˈnesəsəri that is needed for
a purpose or a
reason
Thiết yếu
I'll make the
necessary
arrangements.
5. Interpretation
(n)
ɪnˌtɜːprɪˈteɪʃn the particular way
in which

something is
understood or
explained
Sự giải thích
Dreams are open
to interpretation
6. Virtually
(adv)
ˈvɜːtʃuəli almost or very
nearly, so that
Virtually
all students will
any slight
difference is not
important
Hầu như, gần
như
be exempt from
the tax.
7. Managerial
(adj)
mænəˈdʒɪəriəl connected with
the work of a
manager
(Thuộc ) người
quản lí
Does she have
any managerial
experience?
8. Warehouse

(n)
ˈweəhaʊs a building where
large quantities of
goods are stored,
especially before
they are sent to
shops/stores to be
sold
Kho hàng
My company’s
warehouse is not
big
9. Preparation
(n)
prepəˈreɪʃn the act or process
of getting ready
for something or
making
something ready
Sự chuẩn bị
Preparation for
the party started
early.
10. Appropriate
(adj)
əˈprəʊpriət suitable,
acceptable or
correct for the
particular
circumstances

Thích hợp
Is now an
appropriate time
to make a
speech?
11. Manner
(n)
ˈmænər the way that
something is done
or happens – cách
thức
She answered in
a businesslike ma
nner.
12. Adjust
(v)
əˈdʒʌst to change
something
slightly to make it
more suitable for
a new set of
conditions or to
This button is for
adjusting the
volume.
make it work
better – điều
chỉnh.
13. Reorganize
(v)

iˈɔːrɡənaɪz to change the way
in which
something is
organized or done
– tổ chức lại.
Their
headquarters
was reorganized
into five regional
offices.
14. Regulation
(n)
reɡjuˈleɪʃn an official rule
made by a
government or
some other
authority – qui
định.
There are too
many rules and
regulations
15. Extent
(n)
ɪkˈstent how large,
important,
serious, etc.
something is; the
physical size of
an area – khoảng
rộng, phạm vi.

It is difficult to
assess the full
extent of the
damage.
You can't see
the full extent of
the beach from
here.
II. SUMMARY
Firstly, The basic purpose of accounting is supply accounting information in
making economic decisions.
Secondly, there are three types of accounting information. They are: financial
accounting, management accounting and tax accounting.
• Financial accounting refers to information describing the financial
resources, obligations, and activities of an economic entity that is
designed primarily to assist investors and creditors in deciding where to
place their scare investment resources.
• Management accounting involves the development and interpretation of
accounting information what are used in setting the company’s overall
goals, evaluating the performance of departments and individuals and in
making all types of managerial decisions.
• Tax accounting information to contrast with financial and management
accounting so the resulting figures and reports are different. Beside,
contrary to tax accounting, tax planning more challenging than the
preparation of an income tax return.
III. DEFINITION
1. Accounting (n): the skill or activity of keeping records of the money a
person or organization earns and spends or the job of beingan accountant
– nghề kế toán
2. Accountant (n): someone who keeps or examines the records of money

recevied, paid, and owned by a company or person – kế toán viên
3. Accouting process (n): A sequence of activities involving the recording
of how cash is received and paid out in a company or organization- quy
trình kế toán
4. Financial accounting (n): a type of accouting that deals with provding
financial reports about company’s profit, debts, cash flow, ect. So that
investors, banks, ect. Can measure the company’s performance – kế toán
tài chính
5. Management accounting (n): the activity of preparing and using
financial information about a company in order to support management
decision – kế toán quản trị
6. Tax accounting (n): accounting methods to prepare information on a
person’ income or a company’s earnings for the tax authority, rather than,
in the case of companies, for its executives, shareholders, ect – kế toán
thuế
7. Tax planning (n): Exercise undertaken to minimize tax liability through
the best use of all available allowances, deductions, exclusions,
exemptions,
8. Tax return (n): A form that some people must fill in to give information
about how must they have earned in a year – kê khai thuế