: Mr Martens will be with you in a moment. He's just finishing a phone call.
: Thank you.
: Would you like some coffee?
: Yes, that would be great. Milk no sugar, please.
: Here you are.
Thank you. Is this the whole department?
No, no, not at all. On this floor we have the and the .
Uh-huh. And does everyone work in the open-plan area?
No, some of the managers have individual offices.
The two big offices on the left for the company treasurer and for our senior tax accountant.
The offices on the right are for our cost accountant and for our budget manager.
And the office in the corner of the open-plan area?
That’s used by our back-office manager.
And you have offices as well?
Yes, that’s correct. Downstairs are the internal auditors and at the moment we have a team of external auditors.
They’re in one ofthe conference rooms at the end of the corridor.
Ah, Mr Martens. This is Michael Rogers.
Ah, yes. Hello, Michael. l’m Paul. It's nice to meet you.
Sorry to keep you waiting.
Please come in and take a seat. Did you have a nice flight?
Yes, thanks, Paul. Finding the office was a little more difficult, though.
l’m glad so many people here in Brussels can speak English.
Oh yes, we’re very international here now.
But that’s not a bad thing, I must say.
A little cultural mix is good, isn’t it?
You’re absolutely right. Would you like to start by telling me a little about your experience, Michael?
Your C.V. is very impressive. And then I’ll on our group, and the particular requirements we have for this position.
Yes, that’s fine. l guess you know from my C.V. that l studied economics in New York,...
Morning Charles. You wanted to see me?
Yeah. Hi Sally. About our board meeting next week, you know we'll be discussing our debt problem?
Of course. Probably our biggest issue at the moment.
Right. The shareholders are getting nervous, and the markets don't like our level of gearing.
We're getting more and more questions about whether we can service our debt, in the long term.
It’s getting harder to attract new investments. So, I wanted to speak to you about what we can do. We’re investing a significant amount in our new factory in Germany so we need to come up with a solution soon. The new factory is very important, and we’re looking at leasing the assets. And that’s where you come in. Tell me what we can do with leases on the . What’s allowed in this country?
Is this a business decision, to lease these assets?
Let’s just say it’s one possibility we’re looking at.
You’re thinking that if we lease the assets, we can exclude these liabilities from the balance sheet?
Exactly.
You know that the auditors will look very closely at these transactions? The accounting standards, or principles if you like, mean that finance leases must be disclosed. If we are effectively the owner of these assets, then we’re not going to have a choice.
And how do we determine the owner?
That depends on the conditions in the contract.
That shouldn’t be a problem. And then we can call them…
Operating leases. But remember, auditors and the markets are now very sensitive to these things. We can’t afford to be seen as trying to mislead anyone.
Of course not. But for the meeting next week, have a think about it. OK?
Yeah. I’ll try and bring some ideas.
Great. See you later.
OK. Bye.
USEFUL PHRASE – NHỮNG CỤM TỪ HỮU ÍCH
(Gặp gỡ người khác)
Hello, Mr/Ms ... I'm ...
(Xin chào Ông/Bà... Tôi là...)
It’s nice to meet you.
(Thật vui được gặp bạn.)
It's nice to meet you, too.
(Thật vui được gặp bạn.)
May I introduce you to ...?
(Tôi có thể giới thiệu bạn với...chứ)
I d like to introduce you to ...
(Tôi muốn giới thiệu bạn với ...)
Have you met ...?
(Bạn đã gặp ...?)
(Thể hiện sự thân thiện)
Can l take your coat?
(Tôi có thể cất áo khoác cho cô chứ?)
Please come in and take a seat.
(Xin mời vào, xin mời ngồi.)
Can I get you a cup of coffee/tea?
(Tôi lấy cho bạn một tách cà phê/trà nhé?)
Would you like something to drink?
(Bạn có muốn uống gì không?)
Yes, please. /Yes, that would be great.
(Vâng, làm ơn. /Vâng, điều đó sẽ rất tuyệt.)
No, thank you. / No, thanks
(Không cám ơn bạn. / Không, cám ơn.).
To : Javier Estrada
Hi Javier
At our meeting yesterday you asked me to send you some background info on , and in particular accounting.
Basically there’s quite a bit of flexibility in the way we can interpret . For example, we may want to report bigger profits so that we can attract investors on the . , smaller profits may be better so that we pay less tax. The problem is that the line between truthful and misleading representation of figures is sometimes very thin, and this is where people get into trouble.
Off-balance-sheet accounting is seen by some as one type of creative accounting. (People have been arguing about it for years, though!). The key point to remember is that the of can vary greatly. For example, many companies are involved in leasing for business reasons, and the question for the accountants is how to present the of such leases in the accounts. In theory, the idea is that ( instead of buying it) allows the company to exclude the liability from its accounts.
Hope this help – give me a call if you have any more questions.
Best wishes
Rupert
· the going concern principle (nguyên tắc hoạt động liên tục)
· the matching principle (nguyên tắc phù hợp)
· the consistency principle (nguyên tắc nhất quán)
· objectivity principle (nguyên tắc khách quan)
· the prudence principle (nguyên tắc thận trọng)
The development of these principles has greatly differed between countries. For example, in most English-speaking countries it is often accepted practice to offset from , or to re-value upwards, provided sufficient proof of the current value can be shown. This means that accounts can have very different values, depending on whether the company chooses to follow local accounting standards, (IFRS) – formerly the (IAS) – or U.S. GAAP. Whether the company can choose is governed by the laws of the country where it is registered. For example, the U.S.A. and Japan currently allow to prepare their using the standards of the (IASC), but they must also include a reconciliation to domestic GAAP.
This principle is concerned with the timing of the recognition of transactions in the accounts. Items are recorded when the income or expense arises, and are not dependent on the movement of cash.
When preparing accounts, one must assume that the enterprise will still be viable in the years to come. Practically all are affected by this assumption, such as the carrying value of and inventories, and the ability to repay debts and other obligations.
What value should be given to the numbers in the accounts? It is normal to act pessimistically, so that profits and assets are not overstated, and expenses and liabilities realistically valued.
Accounts should be produced using the same principles from one year to the next. Deviations from this principle must be noted, and the effects on the accounts shown.
Chú ý cách dùng của liability, liabilities, debt, or debts
1. He’ll have paid his debts off by next year.
2. Look at the assets and liabilities on the balance sheet if you want to know how the company’s doing.
3. Many developing countries are burdened by heavy debt.
4. We need to look at the long-term liabilities before we think about any major new purchases.
5. The partnership has limited liability status
6 Current liabilities are those which are paid off within a year.
7 The company’s in debt to the tune of 10 million.
Certified Public Accountant - Kế toán viên công chứng)The body which represents the interests of accountants in the U.S is the . To become a CPA, the applicant must of the state where he/she wishes to practise, as established by the law of that state and administered by . , :
1. study accountancy at a college or university
2. pass the CPA examination, which consists of four sections:
•
• Auditing
• Accounting and Reporting-Taxation, Managerial, and Governmental and
• Financial Accounting and Reporting - Business Enterprises
3. have professional work experience in .
Most states require a qualified to regular professional training.
The in the U.K is the (ICAEW). To become a Chartered Accountant, the applicant must:
1. have sufficient school or university education
2. apply for a with a recognized company, which will give him/her three years’ work experience
3. pass the ICAEW’s exams on:
o
o Business Finance
o
o Financial Reporting
o Taxation
4. as well as prove his/her knowledge on , and then with further exams on:
o Business Environment
o Business Life Cycle
o Advanced Case Study