To pass this unit, please study the 20 vocabulary words below.
- Arising from
- Billable
- Commodity
- Compliance
- Cottage industry
- Duplication
- Estimate
- In conjunction with
- Integrate
- Merge
- Outsource
- Prior
- Range of
- Reallocation
- Red tape
- Speculate
- Stay afloat
- Take into account
- Trend
- Undertake
Verb (infinitive)
USA
UK
USA
UK
to happen because of, or owing to
USA
UK
"There are many costs arising from the purchase of new property."
Adjective
USA
UK
USA
UK
time spent working that you can charge money for
USA
UK
"Some firms charge a flat rate rather than using a system of billable hours."
Noun (thing)
USA
UK
USA
UK
a product, or financial product that can be traded
USA
UK
"The firms most valuable commodity is its property."
Noun (thing)
USA
UK
USA
UK
the procedure of obeying a law, regulation or rule
USA
UK
"Most large accounting firms have a compliance officer to ensure that all regulations are followed."
Noun (thing)
USA
UK
USA
UK
a business activity in which there are many individuals or small firms working
USA
UK
"Large multinational firms are killing off the cottage industry in most sectors."
Noun (thing)
USA
UK
USA
UK
the practice of doing the same thing more than once
USA
UK
"The company used both traditional ledgers and an accounting computer program to record transactions, but the duplication of work took too much time so they stopped."
Verb (infinitive)
USA
UK
USA
UK
to say what you believe the cost, size, value of something is when you are not certain
USA
UK
"The government estimates that there are 3.5 million unemployed people in the country, but no one is sure."
Adverb
USA
UK
USA
UK
combined with
USA
UK
"The low number of graduates in conjunction with the high demand for their skills means finding a job is easy."
Verb (infinitive)
USA
UK
USA
UK
to combine two or more things to make it more effective
USA
UK
"They are planning to integrate the sales and marketing departments."
Verb (infinitive)
USA
UK
USA
UK
to join together, or be joined together - to make a larger company
USA
UK
"When the two firms merged they became an industry leader."
Verb (infinitive)
USA
UK
USA
UK
to employ an outside company to do work for you
USA
UK
"A lot of bookkeeping work is outsourced to India as salaries are much lower."
Adjective
USA
UK
USA
UK
before, previous
USA
UK
"He hadn't had any prior experience so he didn't know what he was doing."
Noun (thing)
USA
UK
USA
UK
a set of similar products or services which are sold by a company
USA
UK
"The firm offers a wide range of accounting solutions."
Proper noun (thing)
USA
UK
USA
UK
changing the way in which an amount of money, asset, time is used
USA
UK
"The company's reallocation of funds from R&D into marketing, showed that they needed to improve their image."
Noun (thing)
USA
UK
USA
UK
official rules and procedures which seem unnecessary and cause delay
USA
UK
"International accounting is often delayed by red tape."
Verb (infinitive)
USA
UK
USA
UK
to guess, to form opinions without having all information
USA
UK
"We can only speculate what accounting firms will look like in 200 years."
Noun (thing)
USA
UK
USA
UK
have enough to remain in business
USA
UK
"Many companies struggle to stay afloat in the current economic crisis."
Verb (infinitive)
USA
UK
USA
UK
to consider or remember something when evaluating a situation
USA
UK
"The CFO didn't take the predicted rise in the price of fuel into account when budgeting for the year, so costs were higher than he expected."
Noun (thing)
USA
UK
USA
UK
a general development or pattern in the way people behave
USA
UK
"By studying current trends, we can get an idea of what will happen next."
Verb (infinitive)
USA
UK
USA
UK
to do, or begin to do something
USA
UK
"He needs to undertake correct budgeting practices."