NATIONAL LEARNING SERVICE SENA

ACCOUNTING AND FINANCIAL MANAGEMENT CENTER

INSTRUCTOR:

STEPAHANIE LOPEZ

APPRENTICE: ESTEFANY CONTRERAS

CARD: 2069644-2

ESP- ACCOUNTING UNIT 1

DATE: 19--09-20
1. Work in groups and answer the following questions

What’s accounting?

Ccounting is a science and a technique that provides useful information for the economic decision-
making process. The general accounting of a company, therefore, implies the control of all its daily
operations: purchase, sale, expenses, investments, etc.

Do you think accounting is important to keep a company floating? Why/why not?

Therefore, it is a discipline that studies the company's accounts and allows to know what the
economic situation of the company is at all times, its possibilities, profits or losses. Accounting is
an important source of information for the company and brings great advantages to the company

Do you know someone who works as an accountant? If so, who? Where does this person

I knew an accountant a long time ago but it was a very bad experience, he was rogue and
flirtatious with all the interns and the one who did not seem pretty to him did bad things to him, it
was unethical with his profession

Work? Do you know what exactly this person does?

he accountants work for both the public and private sectors and are those professionals
responsible for the financial status and accounting books of the individual or company that has
requested their services. In this sense, their mission is to ensure that their clients comply with
applicable legislation and established procedures, as well as to guarantee that there is a record of
the income and expenditure of their accounts.

2. a. Match these accounting firms with their definition1

Public Accounting

las empresas suelen emplear a empresas públicas certificadas

Contadores (CPA)
B. Tax Accounting

firms focus on tax preparation and

planning for companies of all sizes, and also
for individua

Forensic accounting

firms use accounting skills and legal policies

to uncover fraudulent and illegal activities

Bookkeeping

firms complete fundamental accounting

tasks for small and medium-sized companies
Spelling Meaning Synonyms
In summary, the Public auditor, auditor, accountant,
Accountant has, among auditor, censor, accountant,
others, the following functions accountant, comptroller,
within the company: He or she controller, economist
prepares, analyzes and
interprets the financial
liability
statements. Implements the
most convenient accounting
system for the company.
Verifies the accuracy of the
operations recorded in books
and records.
An income statement is a key Imagine a report card that
financial document in business would give you a grade on
that shows the performance of your company's profits and
a company in a specific period losses over a particular period
of time. But an income
statement, in addition to this,
income can also point out the
statement strengths of your business and
predict both problems and
opportunities in the future. In
other words, an income
statement reveals the results
and key elements that drive
your business
owner's equity The right that the owner of a Essential, fundamental, main,
business has over the assets of primordial, primary, vital,
the business. Also known as basic.
Capita City, capital, court.
wealth, fortune, patrimony,
wealth, goods, assets, money,
finance, funds, balance
asset Definition of assets: The assets diligent, dynamic, effective,
are the goods, rights and other efficient, energetic, agile, light,
resources available to a presto, raudo, rapido, rápido,
company, which may be, for vivo, afanoso, laborioso,
example, furniture, trabajador, atareado
construction, computer
equipment or collection rights
for services provided or sale of
goods to customers
budget A budget is an integrating and calculation, computation,
coordinating plan that is estimation, evaluation,
expressed in financial terms amount, item, funds, cost,
with respect to the operations study, determination
and resources that are part of presupposition, assumption,
 a company for a given period, conjecture, premise, postulate
in order to achieve the
objectives set by senior
management.
cash Start now to control the cash objectivo, confiante, positivo,
and all your cash movements real, verdadeiro, prático
with Debitoor. Cash is an Antónimos: falso
element of the balance sheet dinheiro, letras, dinheiro,
and forms part of the current moeda
assets. It is the most liquid
element that the company
possesses, that is to say, it is
money. The company uses this
cash to meet its immediate
obligations.
The cost or cost is the cost, price, amount, value,
economic expense that expense, rate
represents the manufacture of hashish, chocolate
a product or the provision of a
service. When determining the
cost
cost of production, the retail
price of the good in question
can be established (the retail
price is the sum of the cost
plus the benefit
Depreciation of assets in devaluation, cheapening,
accounting. ... Depreciation is cheapness, decrease,
the mechanism by which the liquidation
wear and tear on an asset is Antonyms: appreciation, rise,
recognized by the use made of increase
depreciation
it. When an asset is used to
generate income, it suffers
normal wear and tear during
its useful life that eventually
leads to its unusability
The tax is a type of tax forced, enforced, demanded,
(generally pecuniary forced
obligations in favor of the tax Antonyms: volunteer, elected
creditor) governed by public expert, educated, versed,
tax law, which is characterized by trained, skilled, prepared
not requiring a direct or tribute, charge, contribution,
determined consideration by levy, canon, rate, toll,
the tax administration (tax arbitration, tariff
creditor).
revenue An income is an increase in registration, entry, affiliation,
economic resources. It must admission, incorporation,
be understood in the context intrusion
 of assets and liabilities, since it Antonyms: low, exit
is the recovery of an asset. profit, gain, income, accrual,
Income means increases in the remuneration
net worth of your company.
Payroll is the sum of the Directory, index, inventory,
financial records of the litany, list, record, relationship,
employees' salaries, including repertoire, series.
wages, bonuses and Cast, equipment, staff.
deductions. In accounting, Catalog, clean, list, gazetteer,
payroll payroll refers to the amount repertoire.
paid to employees for services Fill, pay, remuneration, salary,
rendered over a certain period salary.
of time. List.
fill, pay, remuneration, salary,
wag
An invoice, purchase invoice note, charge, account, receipt,
or commercial invoice, is a statement, amount, sum
invoice commercial document that
reflects all the information of a
sale and purchase operation

According to the information from the text, tick the following statements, True (T) or False (F)

1=the accounting cycle corresponds to the recording of the business’s financial activities. ( T)
2=the checkbook is one of the tools used to do the post entries record. (T)
3=As the books need to be accurate, an unadjusted trial balance verifies whether debits and
Credits match. (F )
4=the statements are created as the accounts are up-to-date. ( V)
5=the accounting set up for the next period is part of the record transactions process. (V
According to the information from the text, tick the following statements, True (T) or False (F)

1=The accounting cycle corresponds to the recording of the business’s financial activities. ( T)
2=The checkbook is one of the tools used to do the post entries record. (T)
3=As the books need to be accurate, an unadjusted trial balance verifies whether debits and
credits match. (F )
4=The statements are created as the accounts are up-to-date. ( V)
5=The accounting set up for the next period is part of the record transactions process. (V