Finance - Accounting - Bookkeeping

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Professional English for
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ACCOUNTING
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FINANCE - ACCOUNTING - BOOKEEPING
Read the text carefully. Pay special attention to the words and phrases in bold print. Try to memorize their meaning
and context in which they are used. This vocabulary will be practised through the whole lesson and used in the test.
Transactions are rst entered or recorded in journals (books of original/prime entry). These are divided into sales
books, purchases books, cash received books and cash payments books depending on types of transactions to be
entered. In all these cases the word ‘books’ can be substituted with ‘journals’. All the business deals need to be
summarized in a chronological i.e. date order on daily and then weekly basis in main double-entry records. This means
that each transaction is recoded twice as a debit in one account and as a credit in another. In Britain these main books
are called nominal or general ledgers. They are divided into individual T-accounts which demonstrate the dual nature
of each and every transaction and are in concord i.e. agree with double-entry bookkeeping.
At the end of an accounting period a trial balance is prepared to check if the total debits i.e. decreases in amounts that
must be paid or in revenues are equal to the total credits i.e. increases in the amounts that must be paid or in revenues.
If there are errors detected or found accountants have to retrace i.e. go back to the entries as well as post i.e. of cially
record and correct the problems.
There are hundreds of accounts in which transactions are recorded. This process involves identifying the type of
transaction, approving it i.e. verifying if it has taken place and sorting transactions into appropriate categories. Finally
they are stored in an orderly and timely manner so that they can be later on, if necessary, retrieved (brought back or
restored), checked, corrected or using a more speci c verb - adjusted.
There are two main ways in which accounting is organized: the cash method and the accrual one. The differences
between the two methods are especially visible when transactions on credit are conducted. The cash method is less
and less often used as it is considered to be not so accurate and even old-fashioned. The main idea behind it is that
transactions are recorded only when cash is received or paid. In such a situation there is no need to report accounts
receivable or accounts payable i.e. amounts the company will receive or have to pay later (respectively) as there are no
future cash ows. As a result the net pro t being affected by the above is based more on the actual cash disbursed or
collected rather than on the revenues that are earned or expenses that are incurred in a given period. Some
accounting principles (e.g. recognition or matching – described in Accounting Principles lesson) are then likely to be
violated, disregarded or ignored.
According to a more popular accrual method net pro t is affected by revenues earned and expenses incurred as both
are reported as soon as the transaction they refer to is concluded i.e. made not when the cash due is received or paid.
This method is also viewed as more complex as it requires appropriate adjustments to the account when the cash ow
is actually observed i.e. when it takes place which can be as long as in a few months’ time.
EFBWeb - Professional English for Business

Page 1
Nowadays adjusting i.e. making small changes in order to correct or improve entries is often necessary as in most
cases accountants are expected to use the accrual basis of accounting. Adjustments refer mostly to revenues that have
been earned and expenses that have been incurred. Both have to be covered i.e. entered and/or corrected. In some
cases certain prepaid transactions which expired or nished have to be cancelled. There can also be other entries that
might require recording or recalculating. These can be e.g. depreciation charges i.e. amounts of money that represent
the decrease in the value of a given item or bad debts expenses i.e. amounts of money that need to be set aside in case
the company lent money or granted or given loans that might not be repaid.
Historically bookkeeping was limited to recording transactions in journals or day books and posting the amounts to
appropriate accounts in nominal ledgers. It was the job of accountants to make any necessary adjustments and
prepare nal reports. Nowadays, however, the use of modern software enables updating or revising the accounts in
the nominal ledger almost automatically. So the distinctions or differences between bookkeepers and accountants
that were observable in the past are blurred i.e. are not so clear any more. Nowadays especially in larger companies
where bookkeeping is complex more and more people dealing merely or only with producing nancial statements
prefer to be and often are called accountants rather than bookkeepers.

Page 2
SET I
1. Matching task
Match the words with the proper de nitions/sentences.
charge / revenue / appropriate / record / conclude / purchase / day book / covered / distinction / nominal ledger
/ adjusted / trial balance / expense
n account book in which goods and services bought on credit and sales are recorded
a
to clinch or close a deal or a contract in other words
accounting entries after corrections have been made
the cost of a business of borrowing money and allowing for depreciation i.e. a fall in value over time of its assets
a clear difference or separation between two similar things
correct or suitable for a particular time, situation, or purpose
an increase in assets or settlement of liabilities from ongoing operations
used to talk about transactions or data that has been entered in books of account
a way of checking that a set of accounts is accurate, conducted at the end of an accounting period
a decrease in assets or increase in liabilities from ongoing operations
to write information down or store it in a computer or accounting books so that it can be looked at in the future
a book of records of all the invoices received by a business from its suppliers

Page 3
2. Multiple choice
Choose the word or phrase whose meaning is the closest to that in the de nition/sentence.
1. an account book in which goods and services bought on credit and sales are recorded T-account / double-entry /
trial balance / day book
2. a book of records of all the invoices received by a business from its suppliers order / purchase / revenue /
accounts payable
3. to clinch or close a deal or a contract in other words update / cover / conclude / incur
4. to write information down or store it in a computer or accounting books so that it can be looked at in the future
detect / record / collect / debit
5. accounting entries after corrections have been made granted / concluded / adjusted / disbursed
6. a decrease in assets or increase in liabilities from ongoing operations payable / receivable / expense / post
7. the cost to a business of borrowing money and allowing for depreciation i.e. a fall in value over time of its assets
disbursement / ledger / charge / software
8. a way of checking that a set of accounts is accurate, conducted at the end of an accounting period double-entry /
trial-balance / cash method / setting aside
9. a clear difference or separation between two similar things blurring / distinction / appropriation / conclusion
10. used to talk about transactions or data that has been entered in books of account covered / prepaid / retrieved /
detected

Page 4
11. the main book of account nominal ledger / T-account / sales book / cash ow
12. correct or suitable for a particular time, situation, or purpose expired / appropriate / cancelled / retraced
13. an increase in assets or settlement of liabilities from ongoing operations expense / adjustment / revenue /
receipt

Page 5
3. Correct or wrong
Assess if the de nitions/sentences provided for the words and phrases are correct or wrong.
1. conclude - to cancel or suspend a deal or a contract in other words
2. nominal ledger - the supplementary book of account
3. trial balance - a way of checking that a set of accounts is accurate, conducted at the end of an accounting period
4. purchase - a book of records of all the bills issued by a business to its suppliers
5. adjusted - accounting entries after corrections have been made
6. appropriate - correct or suitable for a particular time, situation, or purpose
7. covered - used to talk about transactions or data that has been corrected in books of account
8. expense - a decrease in assets or increase in liabilities from ongoing operations
9. distinction - a clear connection between two similar things
10. day book - an account book in which goods and services bought on credit and sales are recorded
11. record - to write information down or store it in a computer or accounting books so that it can be looked at in the
future
12. revenue - a decrease in assets or increase in liabilities from ongoing operations
13. charge - the cost to a business of borrowing money and allowing for depreciation i.e. a fall in value over time of its
assets

Page 6
4. Scrambled words
Rearrange the letters on the right to form the words or phrases practised in the lesson. The meaning of the word must
comply with the de nition/sentence.
clear difference or separation between two similar things icotdsnitin

a
the main book of account oednnerlam igl
correct or suitable for a particular time, situation, or purpose roraptppiea
a way of checking that a set of accounts is accurate, conducted at the end of an accounting period rlaec btailan
accounting entries after corrections have been made judtsdea
used to talk about transactions or data that has been entered in books of account decoevr
the cost of a business of borrowing money and allowing for depreciation i.e. a fall in value over time of its assets
gcaher
to write information down or store it in a computer or accounting books so that it can be looked at in the future
doercr
a book of records of all the invoices received by a business from its suppliers rhupaecs
an account book in which goods and services bought on credit and sales are recorded oydabk o
an increase in assets or settlement of liabilities from ongoing operations rveneue
a decrease in assets or increase in liabilities from ongoing operations snpxeee
to clinch or close a deal or a contract in other words duccenol

Page 7
5. Word search
Find the words from the list on the left in the word search square. You can read the words horizontally or vertically.
Letters can be arranged in direction i.e.: → ↓.
C O B T C O J L H Q A E Q N D E T
H C V W O K M P C W P B A O I X R
A S N Z N X M U O R P K P M S P I
R I K V C A A R V T R W F I T E A
G Q Z M L W Q C E Z O V Z N I N L
E B R L U P S H R U P I F A N S B
X D R S D A M A E P R E S L C E A
P O E N E D Y S D O I M W L T V L
J S Z X Q J O E M A A C X E I V A
K L R M J U E I M X T U T D O H N
G K D B I S F V F F E U X G N D C
M J T A Q T D A Y B O O K E I C E
E K F M P E R E C O R D Y R F K Q
V U W B V D G I W V H H N L Z S O
R M N X R E V E N U E S P B V R S
G J A D Y T Y T Q B T I Q E V V E
T N J O U I H B M P A M D P B R M
ADJUSTED / APPROPRIATE / CHARGE / CONCLUDE / COVERED / DAYBOOK / DISTINCTION / EXPENSE

/ NOMINALLEDGER / PURCHASE / RECORD / REVENUE / TRIALBALANCE

Page 8
SET II
1. Matching task
entry / net pro t / blurred / depreciation / collect / cash payment / prepaid / cash ow / cash / dual / incurred / detect
/ sales
t he process of money moving into and out of a company

to notice or discover something, especially something that is not easy to see, hear etc.
used to describe what happens to costs, debts or expenses when money is spent as these have to be paid
used to describe amounts which are payments for things that you have not yet received
dif cult to understand or see, especially as far as the nest details are concerned
a method of accounting in which only amounts of money coming in and going out are shown in the accounts
a book or journal used to record any purchases for which the company paid in cash rather than it bought these
on credit
a method in accounting according to which reductions in the value of xed assets are recorded for a given
period of time
the amount of income that a company has after paying costs and tax
an account book in which you record all sales of goods on credit
to obtain payment of debts
a gure or other piece of information entered in a set of accounts

Page 9
2. Multiple choice
1. a method of accounting in which only amounts of money coming in and going out are shown in the accounts cash /
accrual / revenue / dual
2. to notice or discover something, especially something that is not easy to see, hear etc. retrace / detect /
depreciate / distinct
3. used to describe what happens to costs, debts or expenses when money is spent as these have to be paid
incurred / collected / charged / updated
4. a gure or other piece of information entered in a set of accounts expiry / grant / credit / entry
5. an account book in which you record all sales of goods on credit cash / collection / conclusion / sales
6. used to describe amounts which are payments for things that you have not yet received distinct / prepaid /
balanced / adjusted
7. dif cult to understand or see, especially as far as the nest details are concerned retrieved / incurred / blurred /
covered
8. the amount of income that a company has after paying costs and tax cash ow / revenue / adjustment / net pro t
9. a method in accounting according to which reductions in the value of xed assets are recorded for a given period of
time concord / trial balance / accrual / depreciation
10. having two parts chronological / original / due / dual

Page 10
11. a book or journal used to record any purchases for which the company paid in cash rather than it bought these on
credit prime entry / cash payment / cash ow / payable
12. the process of money moving into and out of a company adjustment / double-entry / cash ow / accrual
13. to obtain payment of debts affect / retrace / debit / collect

Page 11
3. Correct or wrong
1. dual - divided into two parts
2. depreciation - a method in accounting according to which reductions in the value of xed assets are recorded for a
given period of time
3. detect - to lose or forget something, especially something that is not easy to see, hear etc.
4. entry - a gure or other piece of information entered in a set of accounts
5. cash ow - the process of invoices moving into and out of a company
6. blurred - easy to understand or see, especially as far as the nest details are concerned
7. incurred - used to describe what happens to costs, debts or expenses when money is spent as these have to be paid
8. cash payment - a book or journal used to record any purchases for which the company paid in cash rather than it
bought these on credit
9. net pro t - the amount of income that a company has before it pays costs and taxes
10. cash - a method of accounting in which only amounts of money coming in and going out are shown in the accounts
11. sales - an account book in which you record all sales of goods on credit
12. collect - to effect payment of debts
13. prepaid - used to describe amounts which are payments for things that have been delivered

Page 12
4. Scrambled words
gure or other piece of information entered in a set of accounts rnyet

a
to obtain payment of debts eclclto
a method in accounting according to which reductions in the value of xed assets are recorded for a given
period of time detocniapire
a book or journal used to record any purchases for which the company paid in cash rather than it bought these
on credit hpcesyanma t
a method of accounting in which only amounts of money coming in and going out are shown in the accounts
achs
the process of money moving into and out of a company sfwco hal
used to describe what happens to costs, debts or expenses when money is spent as these have to be paid
decrirun
used to describe amounts which are payments for things that you have not yet received papried
dif cult to understand or see, especially as far as the nest details are concerned errubld
to notice or discover something, especially something that is not easy to see, hear etc. tdtcee
the amount of income that a company has after paying costs and tax te opnrt
an account book in which you record all sales of goods on credit sales

Page 13
5. Word search
K E D M A S C A S H B N O F E N C
R A U C O P L A D C B I A C R S A
T O A F L T V I E X R D C N D E S
Y K L B H D Y X P T O D F C Y N H
G D A E N R W N R R Y R C A L T P
E K H B S J Q A E B B L D C F R A
D E T E C T S C C L W B B L K Y Y
C A S H F L O W I U E S X O H I M
I N J K E P A C A R M T H D R J E
N E N R D R X H T R U T W X I P N
C T P V O E E C I E A G G I B Z T
U P K X L P E O O D S A L E S A N
R R D B W A O L N Q F P A P H A B
R O C L M I K L I S M O T Z C L J
E F W Q R D H E V R J C R K U Q A
D I A R D M G C Y F A T N Z V D N
A T D P J K M T O L O E Q M F H D
BLURRED / CASH / CASHFLOW / CASHPAYMENT / COLLECT / DEPRECIATION / DETECT / DUAL

/ ENTRY / INCURRED / NETPROFIT / PREPAID / SALES

Page 14
SET III
1. Matching task
accrual / post / expire / grant / software / debit / general / prime / chronological / accounts payable / retrieve / affect
/ violated / updating
principle in accounting that when a business buys or sells something, this should affect the results for the
a
period of time when it happens, not when the related payment is sent or received
to give someone something or allow them to have something they have asked for
to enter a gure in a ledger i.e. a book used by a company to record money received or spent
adding the most recent information to something
a different adjective that describes the nominal ledger
the sets of programmes that tell a computer how to do a particular job
used when something e.g. an of cial agreement, law, principle etc. is disobeyed or broken
to do something that produces an effect or change in something or in someone’s situation
journals are also called books of original or … entry
to get back information that has been stored
used to describe things arranged according to when they happened or were made
money owed by a business to its suppliers
the left-hand side of each account in double-entry bookkeeping, the side used for decreases in liabilities or
revenues
to nish or to come to an end, used to talk about ideas or situations that last for a given period of time

Page 15
2. Multiple choice
1. the sets of programmes that tell a computer how to do a particular job expenses / software / entries / principles
2. used when something e.g. an of cial agreement, law, principle etc. is disobeyed or broken blurred / expired /
violated / adjusted
3. a different adjective that describes the nominal ledger cash / original / general / principal
4. adding the most recent information to something updating / adjusting / disbursing / retracing
5. to get back information that has been stored retrieve / affect / collect / detect
6. used to describe things arranged according to when they happened or were made appropriate / updated /
chronological / balanced
7. a principle in accounting that when a business buys or sells something, this should affect the results for the period of
time when it happens, not when the related payment is sent or received cash / accrual / trail / journal
8. to do something that produces an effect or change in something or in someone’s situation adjust / record / enter /
affect
9. journals are also called books of original or … entry day / charge / prepaid / prime
10. to enter a gure in a ledger i.e. a book used by a company to record money received or spent post / set aside /
blur / incur
11. to give someone something or allow them to have something they have asked for grant / collect / concord /
charge

Page 16
12. money owed by a business to its suppliers accounts receivable / accounts payable / balances / disbursements
13. the left-hand side of each account in double-entry bookkeeping, the side used for decreases in liabilities or
revenues credit / dual / adjusted / debit
14. to nish or to come to an end, used to talk about ideas or situations that last for a given period of time update /
enter / expire / cancel

Page 17
3. Correct or wrong
1. violated - used when something e.g. an of cial agreement, law, principle etc. is suspended or cancelled
2. chronological - used to describe things arranged according to when they happened or were made
3. post - to extract a gure from a ledger i.e. a book used by a company to record money received or spent
4. expire - to nish or to come to an end, used to talk about ideas or situations that last for a given period of time
5. general - a different adjective that describes the nominal ledger
6. accrual - a principle in accounting that when a business buys or sells something, this should affect the results for the
period of time when it happens, not when the related payment is sent or received
7. grant - to give someone something or allow them to have something they have asked for
8. debit - the right-hand side of each account in double-entry bookkeeping, the side used for increase in liabilities or
revenues
9. prime - journals are also called books of original or … entry
10. retrieve - to transmit information that has been stored
11. software - the sets of programmes that tell a computer how to do a particular job
12. accounts payable - money received by a business from its suppliers
13. affect - to do something that produces an effect or change in something or in someone’s situation
14. updating - analyzing the most recent information

Page 18
4. Scrambled words
t o nish or to come to an end, used to talk about ideas or situations that last for a given period of time irepex
used to describe things arranged according to when they happened or were made ooonircahclgl
a different adjective that describes the nominal ledger enegral
to give someone something or allow them to have something they have asked for targn
to do something that produces an effect or change in something or in someone’s situation tefcfa
the sets of programmes that tell a computer how to do a particular job esratofw
used when something e.g. an of cial agreement, law, principle etc. is disobeyed or broken talieodv
a principle in accounting that when a business buys or sells something, this should affect the results for the
period of time when it happens, not when the related payment is sent or received laccaur
the left-hand side of each account in double-entry bookkeeping, the side used for decreases in liabilities or
revenues dibet
journals are also called books of original or … entry eiprm
to get back information that has been stored retreiev
to enter a gure in a ledger i.e. a book used by a company to record money received or spent opts
money owed by a business to its suppliers uyosccatabane lp
adding the most recent information to something pitndagu

Page 19
5. Word search
K J X A C O C K D Q K V A D I B B
I K Q C H S O F T W A R E E R F Z
R Z E C R R E T R I E V E B I N R
Q W S O O Q J Y E U E V I I K D K
U C J U N G E N E R A L Y T I Y E
C J V N O E O J F V Y G X S L W R
U U M T L P O S T I E R O A H J E
B G W S O R S I S O X A C J A U O
M O S P G W R E R L P N T J Y P U
M A Z A I S I F N A I T K Y V D G
X C E Y C T G A M T R W E M C A L
U A X A A M Z F U E E B I R H T P
N K A B L L N F C D X S L Z A I Y
G E Y L S Y Y E N A Q H S W H N K
V K O E S F Z C A C C R U A L G N
P R I M E M M T M B F H V D Q T T
O E F X F Z S G F S J C D D I V D
ACCOUNTSPAYABLE / ACCRUAL / AFFECT / CHRONOLOGICAL / DEBIT / EXPIRE / GENERAL

/ GRANT / POST / PRIME / RETRIEVE / SOFTWARE / UPDATING / VIOLATED

Page 20
SET IV
1. Matching task
orderly / retrace / credit / T-account / mere / principle / cash received / accounts receivable / disburse / due / journals
/ cancel / set aside / double-entry
n account showing the nances of a business, laid out in the form of two lines in the shape of a T
a
to decide that an event that was planned does not have to happen
the right-hand side of each account in double-entry bookkeeping, the side used for increases in liabilities or
revenues
an account book in which the amounts of cash received are recorded
a rule that explains how something woks, or an idea that something is based on
used to emphasize how small or unimportant something or someone is
arranged or organized in a sensible or neat way
claims for payment from a business to its customers for goods or services it delivered
a system of bookkeeping according to which two aspects of the transaction are recorded
used to describe an amount of money that must be paid now or at the stated time
a different name for day books
to of cially give or pay money to someone
to go back exactly the way you have come
to keep something especially money for a special purpose

Page 21
2. Multiple choice
1. used to emphasize how small or unimportant something or someone is dual / due / aside / mere
2. to keep something especially money for a special purpose disburse / retrace / cover / set aside
3. arranged or organized in a sensible or neat way balanced / orderly / nominal / general
4. to go back exactly the way you have come update / retrace / adjust / incur
5. a rule that explains how something woks, or an idea that something is based on concord / conclusion / principle /
charge
6. to of cially give or pay money to someone blur / disburse / retrieve / enter
7. an account book in which the amounts of cash received are recorded journal / trial / general / cash received
8. to decide that an event that was planned does not have to happen violate / cancel / expire / set aside
9. used to describe an amount of money that must be paid now or at the stated time appropriate / affected / due /
payable
10. the right-hand side of each account in double-entry bookkeeping, the side used for increases in liabilities or
revenues credit / debit / revenue / expense
11. a different name for day books updated / entries / software / journals
12. a system of bookkeeping according to which two aspects of the transaction are recorded covered / accrual /
double-entry / posting

Page 22
13. an account showing the nances of a business, laid out in the form of two lines in the shape of a T general /
orderly / chronological / T-account
14. claims for payment from a business to its customers for goods or services it delivered concord / grants /
accounts receivable / accounts payable

Page 23
3. Correct or wrong
1. orderly - arranged or organized in a sensible or neat way
2. journals - a different name for day books
3. credit - the left-hand side of each account in double-entry bookkeeping, the side used for increases in assets or
revenues
4. set aside - to spend something especially money for a special purpose
5. principle - a rule that explains how something woks, or an idea that something is based on
6. T-account - an account showing the nances of a business, laid out in the form of two lines in the shape of a T
7. cancel - to decide that an event that was planned does not have to happen
8. retrace - to leave immediately the place you have come to
9. double-entry - a system of bookkeeping according to which two aspects of the transaction are recorded
10. due - used to describe an amount of money that must be paid now or at the stated time
11. mere - used to emphasize how important or unique something or someone is
12. disburse - to of cially receive or retrieve money from someone
13. accounts receivable - claims for payment from a business to its customers for goods or services it delivered
14. cash received - an account book in which the value of delivered goods is recorded

Page 24
4. Scrambled words
c laims for payment from a business to its customers for goods or services it delivered neeblcvocciusrtae a
to decide that an event that was planned does not have to happen cancle
arranged or organized in a sensible or neat way redlyor
an account showing the nances of a business, laid out in the form of two lines in the shape of a T n-uccaoTt
an account book in which the amounts of cash received are recorded cceedahive sr
a system of bookkeeping according to which two aspects of the transaction are recorded etuober-ylnd
used to describe an amount of money that must be paid now or at the stated time eud
to keep something especially money for a special purpose s aeitdes
used to emphasize how small or unimportant something or someone is rmee
to of cially give or pay money to someone uebissdr
a rule that explains how something woks, or an idea that something is based on piepcilrn
to go back exactly the way you have come earectr
a different name for day books luaonsjr
the right-hand side of each account in double-entry bookkeeping, the side used for increases in liabilities or
revenues tiedcr

Page 25
5. Word search
G G U O D W R Y T H C V Y C K K K
M J Q R O W E I W H A U X A L X P
F E R D U D C R O X S I E N K K R
J Q Z E B U E S C X H T X C R J I
I U D R L E I T L B R M Q E M A N
X E M L E J V H P Z E U J L U K C
I W E Y E L A V R G C Q I P H J I
U C R P N U B Z N F E Z H I Q Z P
R S E P T U L R W L I N T R M Y L
K O Q C R Y E F I J V Y J E E C E
D E H R Y M S V J K E H B T W D F
S T P E Y E K U R S D N J R H S T
Q D V D D I S B U R S E K A N I V
S F I I S E T A S I D E C C Q V O
N K S T T A C C O U N T D E F L M
H E G K U O K V Q U D S K B S P M
V L U S M P H D A J O U R N A L S
RECEIVABLES / CANCEL / CASHRECEIVED / CREDIT / DISBURSE / DOUBLEENTRY / DUE

/ JOURNALS / MERE / ORDERLY / PRINCIPLE / RETRACE / SETASIDE / TACCOUNT

Page 26
Table Of Contents
SET I 3
1. Matching task 3
2. Multiple choice 4
3. Correct or wrong 6
4. Scrambled words 7
5. Word search 8
SET II 9
1. Matching task 9
5. Word search 14
SET III 15
1. Matching task 15
5. Word search 20
SET IV 21
1. Matching task 21
5. Word search 26

Page 27
ACCOUNTING
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Finance - Accounting - Bookkeeping

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EFBWEB.

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

1. conclude - to cancel or suspend a deal or a contract in other words

2. nominal ledger - the supplementary book of account

5. adjusted - accounting entries after corrections have been made

6. appropriate - correct or suitable for a particular time, situation, or purpose

8. expense - a decrease in assets or increase in liabilities from ongoing operations

9. distinction - a clear connection between two similar things

EFBWeb - Professional English for Business

clear difference or separation between two similar things icotdsnitin

EFBWeb - Professional English for Business

ADJUSTED / APPROPRIATE / CHARGE / CONCLUDE / COVERED / DAYBOOK / DISTINCTION / EXPENSE

EFBWeb - Professional English for Business

t he process of money moving into and out of a company

EFBWeb - Professional English for Business

10. having two parts chronological / original / due / dual

EFBWeb - Professional English for Business

13. to obtain payment of debts affect / retrace / debit / collect

EFBWeb - Professional English for Business

1. dual - divided into two parts

4. entry - a gure or other piece of information entered in a set of accounts

5. cash ow - the process of invoices moving into and out of a company

12. collect - to effect payment of debts

EFBWeb - Professional English for Business

gure or other piece of information entered in a set of accounts rnyet

EFBWeb - Professional English for Business

BLURRED / CASH / CASHFLOW / CASHPAYMENT / COLLECT / DEPRECIATION / DETECT / DUAL

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

5. general - a different adjective that describes the nominal ledger

9. prime - journals are also called books of original or … entry

10. retrieve - to transmit information that has been stored

12. accounts payable - money received by a business from its suppliers

14. updating - analyzing the most recent information

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

ACCOUNTSPAYABLE / ACCRUAL / AFFECT / CHRONOLOGICAL / DEBIT / EXPIRE / GENERAL

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

3. arranged or organized in a sensible or neat way balanced / orderly / nominal / general

6. to of cially give or pay money to someone blur / disburse / retrieve / enter

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

1. orderly - arranged or organized in a sensible or neat way

2. journals - a different name for day books

8. retrace - to leave immediately the place you have come to

11. mere - used to emphasize how important or unique something or someone is

12. disburse - to of cially receive or retrieve money from someone

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

RECEIVABLES / CANCEL / CASHRECEIVED / CREDIT / DISBURSE / DOUBLEENTRY / DUE

EFBWeb - Professional English for Business

EFBWeb - Professional English for Business

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