MINISTRY OF EDUCATION

NORTH OF PANAMA REGIONAL DIRECTION

ANDRES BELLO BILINGUAL INSTITUTE

LEVEL:
12th

TEACHER:
AMARILIS GONZÁLEZ

DELIVERY DATE:
March 30th, 2020

2020
 CONTENT

I. GRAMMAR
a. Simple Future Tense
i. Affirmative
ii. Negative
iii. Questions.
II. SPELLING
a. Accounting Vocabulary

III. READING
a. Reading Comprehension. Using Simple Future

IV. ACCOUNTING & BUSINESS

a. Copies about The Money.

V. CONVERSATION
a. Topic of current Interest. (CORONAVIRUS)
 GRAMMAR

Simple Future Tense

Language objective: : To teach the students and help them recognize the Simple Future tense and
use it properly in a sentence.

Note: To review the students will see a video about the simple future tense.
 Workshop #1

Instructions: Write the sentences in affirmative, negative or questions.

1. She will write the e-mail after lunch.

(-)
(?)
2. The girls are going to sing ‘Amazing Grace’ now.
(-)
(?)
3. He is going to clean up his room tonight.
(-)
(?)
4. He will be receiving his M.A. degree at the ceremony next week.
(-)
(?)
5. I am turning in my History assignment tomorrow morning.
(-)
(?)
6. Alice won’t help us decorate for the party.
(+)
(?)
7. I won’t see you tomorrow.
(+)
(?)
8. They aren’t going to buy the house.
(+)
(?)
9. I am not going to make dinner tonight.
(+)
(?)
10. He will not work overtime anymore.
(+)
(?)
11. Will Dave burn the CD for you?
(+)
(-)
12. Is he going to watch the film tonight?
(+)
(-)
13. Are you going to participate in the race tomorrow?
(+)
(-)
14. Will Allen be participating in the science fair next week?
(+)
(-)
15. Will Ron be visiting you today?
(+)
(-)
 SPELLING

Learning Objectives: Students will be able to know and understand the most important terms about
the accounting.

Instructions: Read and study each one the terms and then develop the exercise.

1. Assets

Definition: Everything a company owns, including cash, accounts receivable (money a company is
going to receive, see below), property and goods.

2. Liabilities

Definition: Everything that a company owes to others, like loans and mortgages.

3. Balance Sheet

Definition: A document that records a company’s assets and liabilities at a certain moment in time.
If we’re talking about a public company, it also shows the shareholders’ equity (how much the
shareholders own).

The balance sheet is based on the accounting equation:

assets = liabilities + owner’s equity

4. Debit

Definition: An entry that shows what a company spends. Debits are recorded on the left side of an
account.

5. Credit

Definition: An entry that shows how much money a company receives. Credits are recorded on the
right side of accounts.

6. Double Entry

Definition: An accounting system in which each transaction is recorded as both a credit and a debit,
an asset and a liability.

7. Net

Definition: An amount of money that is left after taxes have been paid.

8. Gross

Definition: An amount of money before taxes are deducted.

9. Profit

Definition: The money a business is left with after deducting all the expenses.

10. Revenue
Definition: The total amount of money a company receives from the services or products it sells.
The revenue is higher than the profit, because in order to calculate the profit, you need to first see
the costs of doing business.

11. Capital

Definition: Cash and funds, but also machinery and tangible assets that can contribute to earning
more money, like computers, company vehicles, etc. Intangible assets like expertise or reputation
are not considered to be capital.

12. Cash Flow

Definition: Money coming in (inflows) and going out (outflows) of a company.

13. Payroll

Definition: A list of all a company’s employees and their salaries. The word payroll also refers to the
total amount of money paid by a company to its employees.

14. Accounts Payable

Definition: Money that a company owes to other parties—companies or people—called creditors.

Accounts payable are considered liabilities.

15. Accounts Receivable

Definition: Money that a company has to receive for products or services bought by customers or
clients.

16. Appreciation

Definition: The increase in the value of a company’s assets. Appreciation can be the result of an
increase in demand for a product or service. The verb form is to appreciate.

17. Depreciation

Definition: The decrease in the value of products or services a company offers. Depreciation can be
due to a high supply of similar products or services offered by competitors. The verb form is to
depreciate.

18. Overhead

Definition: All the expenses a company needs to pay for, like the costs of advertising, labor, bills and
taxes.

19. Accounting Period

Definition: The time period over which financial statements are produced, usually a year.

20. Financial Statements

Definition: Documents that show the financial situation of a company. They include the balance
sheet (showing assets, liabilities and shareholders’ equity, see above), the income statement
(showing revenues and expenses) and statement of cash flows (showing cash flow fluctuations in a
certain accounting period).

21. Share

Definition: A unit of ownership in a company. The person or organization who owns shares (the
shareholder, see below) is entitled to dividends (usually cash), but they also share the responsibility
if there are losses.

22. Shareholder

Definition: A person or organization (company or any other institution) that owns shares in a
company. Shareholders are, in a way, the owners of a company. If the company is doing well, the
value of the shares goes up. If, on the contrary, the company is not profitable, the value of its shares
decreases.

23. Owner’s Equity

Definition: A part of a company’s assets that the owner has. It’s calculated as assets minus liabilities.

24. Auditor

Definition: A person whose job is to evaluate accounting records in order to make sure they have
been done properly and to check if the company is being run efficiently.

25. Bookkeeper

Definition: A person whose job is to record daily transactions, issue invoices and complete payrolls.
Bookkeepers are usually supervised by accountants. Bookkeepers are required to have less
experience than accountants and don’t need a degree in accounting.

26. Chartered Accountant

Definition: An accountant who has a certain amount of experience and who has passed certain
exams that qualify them to be a member of an institution, such as the Institute of Chartered
Accountants in the UK. In the US a similar title is that of Certified Public Accountant (CPA).

27. Creative Accounting

Definition: An accounting practice that tries to present an improved image of a company’s financial
situation by highlighting mainly the aspects that are favorable. Creative accounting is considered to
be legal, but is often seen as unethical.

28. Income Tax

Definition: Money that individuals and companies owe to the government, based on the income
they make.

29. Value Added Tax (VAT)

Definition: A tax that consumers pay on most products and services, except most food and drugs.
Not all countries have a VAT system. In the US, most states have something similar, called a sales
tax.
30. Return on Investment (ROI)

Definition: The profitability ratio of a certain investment. The return on investment is calculated as
the benefit gained from the investment divided by the cost of the investment.

Exercise

Look at the following sentences and choose the correct answer. Sometimes, there’s more than one
correct answer.

When you’re done, check your answers in the key at the bottom!

1. They had to hire a(n) ___ because Jane was not qualified to produce all the documents for the
audit in June.

A. auditor B. accountant C. bookkeeper

2./3. Her ___(2.) salary at her new workplace was higher than her ___(3.) salary in the old one, so
she was much happier here.

2. A. net B. gross

3. A. net B. gross

4./5./6. The basic accounting equation is: ___(4.) = ___(5.) + ___(6.)

4. A. assets B. liabilities C. owner’s equity

5. A. liabilities B. owner’s equity C. assets

6. A. owner’s equity B. assets C. liabilities

7./8. In order to see what a company’s ___(7.) is/are, you need to have a look at the ___(8.) and
subtract all the expenses of doing business.

7. A. profit B. capital C. revenues

8. A. revenues B. profit C. liabilities

9. The ___ is an important accounting document showing a company’s assets, liabilities and the
owner’s equity.

A. cash flow statement B. balance sheet C. income statement

10./11./12. In ___(10.), you need to record ___(11.) on the left side and ___(12.) on the right side.

10. A. double entry bookkeeping B. single entry bookkeeping

11. A. debits B. credits

12. A. credits B. debits

13. He was hoping to be able to raise enough ___ to set up his own business in five years’ time.
A. assets B. capital C. equity

14. As she was calculating the company’s liabilities, she realized she forgot to include the ___.

A. accounts payable B. accounts receivable

15. They wanted to resort to ___ in order to convince investors of their company’s high profitability,
but then they realized that the auditors that worked for the investors would see right through it.

A. bookkeeping B. accounting C. creative accounting

16. He had been trying to pass his exams in order to become a(n) ___, but in the end he gave up and
decided to charge a higher fee for his bookkeeping services in order to make ends meet.

A. chartered accountant B. shareholder C. investor

17. The auditor was looking at the financial statements that the company presented him when he
realized he was actually interested in a different ___. He then had to ask for a different set of
financial statements.

A. income statement B. payroll C. accounting period

18. She was considering giving up working as an accountant for that company and becoming a self-
employed freelancer because the ___ she had to pay was lower. She also had the expertise to file
her own tax return, which was an additional advantage.

A. income tax B. Value Added Tax

19. The idea of becoming a shareholder seemed really bad now that the ___ was lower than in any
other previous year.

A. share price B. return on investment

20. Their ___ was too high during the past few months, so they have been thinking of either not
giving their employees any bonuses this year or investing less in advertising.

A. overhead B. appreciation C. depreciation

 READING

Learning Objective: Apply the money terms and their skills in the reading comprehension.

Money is what you use to buy things. You may earn money from completing
household chores, getting good grades, pocket money, or for losing a tooth! Money is very
important in our world and comes in many different forms. People
have been using money for hundreds of years. Before money gave
specific values for things, people simply traded items. In the United
Kingdom, we use the pound as our currency or money, but people in
different parts of the world use different currencies, though some
countries also use or accept our pounds. People earn money from the
jobs they work and use that money to save for the future, pay for their
houses, cars, food, taxes, medical needs and household items among
other things. Even things such as turning the lights on, using the air
conditioning or heat, and connecting to the internet cost money.

Read the passage again and then answer the questions below:

1. How long have people used money?

____________________________________________________________________

2. What did people do before there was money?

___________________________________________________________________

3. What currency does the United Kingdom have?

____________________________________________________________________

4. What can money be used for?

____________________________________________________________________

5. According to the author of this story, money is….

____________________________________________________________________
 ACCOUNTING & BUSINESS

Learning Objectives: Students will be able to develop the copies about the topic The Money.

Instructions: According to talked in class about the Money copies, the students will develop all the
activities.

CONVERSATION

Language Objective: Students will be able to:

• Talk and express their personal opinions about the topic: Coronavirus.

• Research and write about the Holly Week.

Instructions:

• The students will make a research about the Coronavirus, write by hand. (One page
Complete)

• Write by hand a little research about the Holly Week. (One page Complete)

EVALUATION CRITERIA: Punctuality, Content, Creativity and Orthography.