Unit 8: Financial Statements

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Today, almost all receipts and ledgers are digitized. This unit covers how the paperless office has revolutionized the accountant’s working day.
Basic activities (computer-graded)

Reading Activity: Financial Statements

Students will be able to correctly answer true/false questions after reading and listening to topical short articles and dialogs featuring topical vocabulary.

If you walked into any accounts office twenty years ago, you would have seen piles of financial statements and reports in every corner. However, now, there is an increasing trend towards the paperless office. Accounting teams, much like other office workers, are using electronic copies to replace the traditional hard copies of everything from tax returns to financial statements. But how has this… Continue

Multiple Choice Activity

Students will be able to select the best match between unit terms and their definitions.

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Listening Comprehension Activity

Students will be able to listen to short audio clips in English and then spell them correctly.

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Spelling and Recognition

Students will be able to identify and spell a vocabulary term correctly given only the definition.

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Advanced activities (optionally teacher-graded)
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Speaking Practice Activity

Students will be able to speak and record 5 example sentences from the unit vocabulary and then submit them for grading by the classroom teacher. If no teacher is available or desired, then the students will be shown good examples of other students' work.

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The auditors meticulously studied the accounting records looking for anything suspect.
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The latest date for filing your tax return is the 31st of March, so ensure that you have it finished and sent by the 29th.
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Peter was posting the previous day’s sales into the system when his manager arrived.
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Mr Smith decided not to invest the profit from the last year so he retained it in his bank account.
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The company will only reimburse staff for petty cash purchases if they provide a receipt.

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Writing Practice Activity

Students will write a short essay to be graded by the teacher. If no teacher is available or desired, then the student is shown previous examples of other writings by students.

  • What are the advantages and disadvantages of computerized accounting programmes over traditional manual accounting?
  • Why do you think companies are changing to a paperless office?
  • Do you think it is important to keep a hard copy of financial records even if you are using a computerized system? Why/ why not?
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