Aku dan Saya
Aku adalah aku
Tidak peduli apa kata orang
Saya adalah saya
Tidak peduli pikiran yang lain
Aku tidak begitu mengenal saya
Saya tak begitu memperhatikan aku
Adakah orang yang mengenal aku
Ataukah yang mengenal saya
Saya tidak tau benar siapa aku
Aku dan saya masih terus mencari jawabnya
Tak usah, Tak perlu, Tak mungkin
Karena aku dan saya sama saja
Sama-sama mencari jati diri
The Magic of Love
Love is like a magic and it always will be
For love still remains
Life’s sweet mystery
Love works in ways that are wondrous and strange
And there’s nothing in life
That love cannot change
Love can transform the most common place
Into beauty and splendor
And sweetness and grace
Love is unselfish, understanding and kind
For it sees with it’s heart
And not with it’s mind
Love is the answers
That everyone seeks
Love is the language
That every heart speaks
Love can’t be bought
It priceless and free
Love like pure magic
Is life’s sweet mystery
Reading
THE BALANCE SHEET
Financial statements are the final product of the accounting process. They provide information on the financial condition of a company. The balance sheet, one type of financial statement, provides a summary of what a company owns and what it owes on one particular day.
Assets represent everything of value that is owned by a business, such as property, equipment, and accounts receivable. On the other hand, liabilities are the debts that a company owes-for example, to suppliers and banks. If liabilities are subtracted from assets (assets-liabilities) the amount remaining is the owners share of a business. This is known as owners’ or stockholders equity.
One key to understanding the accounting transactions of a business is to understand the relationship of its assets, liabilities, and owners’ equity. This is often represented by the fundamental accounting equation: assets equal liabilities plus owners’ equity.
ASSETS = LIABILITIES + OWNERS’ EQUITY
These three factors are expressed in monetary terms and therefore are limited to items that can be given a monetary value. The accounting equation always remains in balance; in other words, one side must equal the other.
The balance sheet expands the accounting equation by providing more informa- tion about the assets, liabilities, and owners’ equity of a company at a specific time (for example, on December 31, 1993). It is made up of two parts. The first part lists the company assets, andmthe second part details liabilities and owners’ equity. Assets are divided into current and fixed assets. Cash, accounts receivable and inventories are all current assets. Property, buildings, and equipment make up the fixed assets of a company. The liabilities section of the balance sheet is often divided into current liabilities
(such as bonds and long-term notes).
The balance sheet provides a financial picture of a company on a particular date, and for this reason it is useful in two important areas. Internally, the balance sheet provides managers with financial information for company decisionmaking. Externally, it gives potential investors data for evaluating the company’s financial position.
Comprehension
A.Answer the following questions about the balance sheet. Questions with asterisks (*) cannot be answered directly from the text.
1.What is the final product of the accounting process?
2.What is a balance sheet?
3.Does the balance sheet provide financial information for a long period of time (for example, January to June 1993) or does it provide information for a specific point in time (for example, on June 30, 1993)?
4.What is the difference between assets and liabilities?
5.How is owners’ or stockholders’ equity determined?
6.How can the relationship between assets, liabilities, and owners’ equity be repre- sented?
7.Does the accounting equation always remain in balance? *Why or why not?
8.How can business use a balance sheet? *As a manager, how would you find a balance sheet useful?
Answer:
1.The final product of the accounting process is the balance sheet.
2.A balance sheet is a final statement that provides a summary of what a company owns and what it owes on one particular day.
3.It provides information for a specific point in time, for example, on Jun 30, 1993.
4.Assets represent everything of value that is owned by a business, liabilities are the debts that is a company owes.
5.Owners’ or stockholders’ equity is determined by subtracting liabilities from assets.
6.It can be represented by the fundamental accounting equation assets equal liabilities plus owners’ equity.
7.Yes, it does. Because one side must equal the other. If not, it must be wrong with the recording.
8. A balance is useful for a business, because it provides a financial picture of a compa- ny on a particular day. It provides managers with financilal information for company decision making.
B.Complete the balance sheet by writing in the correct terms from the list bellow.
assets current liabilities long-term liabilities
liabilities fixed assets current assets
stockholders’ equity
| International Manufacturing, Inc | |||||||
| Balance Sheet | |||||||
| December 31, 1993 | |||||||
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| Assets |
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| Liabilities |
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| Current assets |
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| Current liabilities |
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| Cash |
| $ 49,400 |
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| Accounts payable | $ 30,000 | |
| Accounts receivable | 1,600 |
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| Income texes payable | 19,000 | ||
| Inventories |
| 53,000 |
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| Total |
| $ 49,000 |
| Total |
| $104,000 |
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| Long-term liabilities |
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| Fixed assets |
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| Bonds |
| $ 20,000 | |
| Property |
| $ 15,000 |
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| long-term liabilities | 40,000 | |
| Buildings |
| 50,000 |
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| Total |
| $ 60,000 |
| Equipment | 10,000 |
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| Total |
| $ 75,000 |
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| Total liabilities | $109,000 | |
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| Stockholders' equity |
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| Total assets | $179,000 |
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| Common stock | $ 47,000 | ||
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| Retained earnings | 23,000 | |
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| Total |
| $ 70,000 |
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| Total liabilities and |
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| stockholders' equity | $179,000 | |
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Vocabulary Exercises
A. Write down any term that you did understand in the reading. Find each term in the reading, look at its context, and try to figure out the meaning. Discuss these terms with your classmates.
B. Look at the terms in the left-hand column and find the correct synonyms or definition in the right-hand column. Copy the corresponding letters in the blanks.
1. G property (line 6) a. assets equal liabilities plus owners’ equity
2. D equal (line 12) b. provide information item by item
3. F condition (line 2) c. indicate by words or symbols
4. B detail (line 21) d. have the same value as
5. A accounting equation (line 12)
e. a series of transactions, changes, or functions that bring about a particular result
6. H monetary (line 15) f. the existing circumstance
7. E process (line 1) g. anything owned by a person
8. C express (line 15) h. of or pertaining to money
C. Discuss the following questions with a partner. In giving your answers, try to use the italicized terms.
1.What is the difference between accounts receivable and accounts payable?
2.Why are accounts receivable and cash considered current assets while property and equipment are considered fixed assets? What do you think the difference between current and fixed assets?
3.The owners’ equity in a company equals assets minus liabilities. What is meant by owners’ (or stockholders’) equity?
4.If you were a manager, how would you use the balance sheet to evaluate you company’s financial condition?
5.What do you consider your personal assets? Do you have any liabilities? What are they?
Answer:
1.Accounts receivable is assets and accounts payable is liabilities.
2.Because they are easly changed into money.
3.Nett owning.
4.The manager know were the company is financial healthy.
5.Mobile.
Text Analysis
Look at the reading to answer these questions.
1.What does each of the following refer to?
LINES WORDS REFERENTS
1 they financial statement
9 this the owners’ share if a business
11 this the relationship of its assets
15 these three factors assets, liabilities and owners’ equity
2.In line 6, what are property, equipment, and accounts receivable examples of?
Assets
3.In line 7, what do suppliers and banks refer to?
To whom the company has depts..
4.In lines 5-7. two different phrases are used to incorporate example in the reading. What are these phrases?
a. Assets
b. Liabilities
5.Another method of clarification by example is the use of mathematical representations. From the reading, copy examples that use mathematical symbols.
a. The fundamental accounting equation.
b. Assets equal to liabilities plus owners’ equity.
6.In lines 28-31, two uses of the balance sheet are given. What are the key words that show each of these uses is in a different area? What uses does each word introduce?
KEYWORDS USES
Classification
Categories of the balance sheet can be classified to show the relationship between them. Fill in the following blanks based on the information provided in the reading and in Figure 1 (page 79).
Class: Assets Class: Liabilities
Members: Current assets Members: Current liabilities
Fixed assets Long-term liabilities
Class: Current assets Class: Current liabilities
Members: Cash Members: Accounts payable
Accounts receivable Income taxes payable
Inventories
Class: Fixed assets Class: Long-term liabilities
Members: Property Members: Bonds
Buildings Long-term notes
Equipment
Application
Using the information in the reading, answer the following questions. Give reasons to support your answers.
1.Which of the following is not a fixed assets: office equipment, machinery, marketable securities, land, and buildings? Why?
Marketable securities. Because its easy to change into money.
2.Are the following liabilities current or long-term: bank loans payable, accounts payable, mortgage bonds payable, taxes payable, and long-term notes payable? List each under the correct heading.
CURRENT LIABILITIES LONG-TERM LIABILITIES
Accounts payable Bank loans payable
Taxes payable Mortgage bonds payable
Notes payable
lanjut, put! »
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AN ACCOUNTING OVERVIEW
Accounting is frequently called the “language of business” because of its ability to communicate financial information abaout an organization. Various interested parties, such as managers, potential investors, creditors, and the government, depend on a company’s accounting system to help them make informed financial decisions. An affective accounting system, therefore, must include accurate collecting, recording, classifying, summarizing, interpreting, and reporting of information on the financial status of an irganization.
In order to achieve a standardized system, the accounting process follows accounting principles and rules. Regardless of the type of business or the amount of money involved, common procedures for handling and presenting financial information are used. Incoming money (revenues) and outgoing money (expenditures) are carefully monitored, and transaction are summarized in financial statements, which reflect the major financial activities of an organization.
Two common financial statements are the balance sheet and the income statement. The balance sheet shows the financial position of a company at one point in time, while the income statement shows financial performance of a company over a period of time. Financial statement allow interested parties to compare one organization to another and/or to compare accounting periods within one organization. For example, an investor may compare the most recent income statements of two corporations in order to find out which one would be a better investement.
People who specialize in the field of accounting are known as accountants. In the
Through effective application of commonly accepted accounting systems private, public, and govermmental accountants provide accurate and timely financial information that is necessary for organization decision making.
Comprehension
Answer :
1. According is called the “language of business” because of its ability to communicate financial information about on organization.
2. In order to achive a standardized accounting system the accounting process follows accounting principles and rules.
3. Revenues are incoming money and expenditures are outgoing money.
4. The balance sheet and the income statement are two common financial statement. They are different, the first shows the financial position of a company of one point of time, while the second shows the financial performance of a company over a period of time.
5. The information contained in financial statements might be usefull to creditors in help them to find out whether the company will be able to repay the credit on time or not.
6. In
7. Public accountant provide accounting services such as auditing and tax computation to companies and individuals.
8. A CPA is a Certified Public Accountant. Yes, we had. Formerly faculty of economic graduates of 5 elite universities got ‘Drs….AK’ degree.
9. Personal question
10. In some company financial decision making might be based on accounting information. For example the management want to expands its business to build a bigger factory to introduce new variety of goods.
a. managers
b. potential investors
c. creditors
d. all of the above
a. all companies use identical accounting systems
b. balance sheets are more important than income statements
c. common procedures are used in handling financial information
d. no standardized accounting system is employed
3. Business monetary transactions are summarized in :
a. bank books
b. financial statements
c. computers
d. cash registers
4. Public accountants may earn the title of CPA by :
a. becoming governmental accountans
b. paying a fee
c. fulfilling rigorous requirements
d. obtaining a Bachelor of arts degree in accounting
5. Private and governmental accountatnts are paid on a____basis.
a. salary
b. monthly
c. fee
d. weekly
Vacabulary Exercises
A. Subtitute appropriate terms for the italicized words or phrases in the sentences below.
status agencies monitored maintain independently
procedure fee hire rigorous solely
1. Many accounting departments have strict enterance requirements;
only the most qualified applicants are allowed to enter these
programs. rigorous
2. The particular method used to process employee insurance
claims may vary from company to company procedure
3. The stock market is closely watched every day. monitored
4. Rather than expand into foreign lines, the dress shop manager
chose to deal only with domestic fashion designers. solely
5. Although the consultant’s charge for services was high, his
guidance and advice were well worth the money. fee
6. The financial condition of a company is reflected in its financial
statements. status
7. When the business began to expand, a second bookkeeper was
brought in to help keep the books. maintain
8. In the
provide services at the local, state, and national levels. agencies
B. Complete the sentences with the noun, verb, and adjective forms provided.
1. Communication/to communicate/communicative
a. Supervisor should strive for two-way communication with their
employees.
b. By using an overhead projector, the guest speaker was able to
communicate his statistical information clearly.
c. Because of the clerk’s highly developed communicative skills, she was
given a position that required her to deal directly with customers
2. Information/informed/informative
a. The owner informed his employees that they would all receive a 5 percent pay increase.
b. Getting Acquainted with Accounting, by John L. Carey, is very informative book.
c. Financial information is essential for organizational decision making.
3. Allowance/allowed/allowable
4. Fulfillment/fulfill/fulfilling
5. Standars/has standardized/standard
C. Fill in the blanks below with the most appropriate terms the list.
parties financial statement reflected standardized allows
whereas interpretations informed communicates rigorous
An income statement is one example of a financial statement, it communicates financial information about a company over a period of time. A standardized format
Is used to present the financial information. This allows interested parties to compare one income statement to another in order to make informed financial decisions. But there is still a great deal of risk involved in financial decision making because the information reflected in an income statement is object to variety of interpretations.
Look at the reading to answer these questions.
What does each of the following refer to?
LINES WORDS REFERENTS
1 its accounting
4 them whereas parties
19 another corporation
21 one organization
lanjut, put! »
Name : Putri Januarini
Class : 3 DB 01
NPM : 32107018
MULTINATIONAL CORPORATIONS
Comprehension
Vocabulary Exercises
1. j corporation (line 5) a. chiefly; principallyC.Fill in the blanks in the following paragraph with the most appropriate terms form the list.
2. _e_ expand (line 6) b. function in; work in
3. _g_ view (line 8) c. change
4. _i_ stage (line 5) d. a company having more than half of
its stock owned by another company
5. _a_ primarily (line 13) e. increase the dimensions of
6. _h_ base (line 8) f. growth; expansion
7. _c_ vary (line 21) g. see; look at
8. _d_ subsidiary (line 21) h. foundation
9. _b_ operate in (line 20) i. a step in development
10._f_ development (line 4) j. a type of business organization
formed by an association of
stockholders
base operate in appreciation of expandsDuring the development of a corporation, the organizational structure may vary over time and pass through a number of stages. As the corporation grows, it expands its operations. It might become involved in setting up a subsidiary. Although the corporation still has a primary or “home base,” establishment of a subsidiary allow the company to enter into new relationships with a view toward increasing its production and marketing capabilities.
vary corporation development subsidiary
stages involved in view relationships
Text Analysis
LINES WORDS REFERENTS
2 it a company
5 this stage first step
17 IBM International Business Machine
2.Match the connective words or phrases with the appropriate
functions.
_c_ however (line 5) a. summarizing
_d_ then (line 8) b. illustrating
_a_ therefore (line 12) c. contrasting
_b_ for example (line 18) d. sequencing information
3.Summarize the two general steps in the
development of a multinational corporation.
a. establishing these trade relationship. (line 3-5)
b. focusing on the world market. (line 8-10)
4.Sometimes the definition of a term takes this form:
a controls the
A restrictive trade law → is → law → that → number of goods
imported or exported
{ that }
term being defined → verb to be → class→ { which } → definition
This type of definition is known as a formal definition.
In a formal definition the term or word being defined occurs first.
It is followed by the verb to be (usually is or are).
Next the class states the general group that the term belongs to:
TERMS CLASSES
multinational corporation company
typewriter business machine
absolute advantage theory of specialization
After the class, either that or which is used. Finally,
the definition itself includes information distinguishing this
term other members of its class.
Write formal definitions for multinational corporation (page 56),
corporation (page 57), and subsidiary (page 57).
a.A multinational corporation is a company that is primarily based
in one country and has production and marketing activities in
foreign countries.
b. __________________________________________________________________
__________________________________________________________________
c. __________________________________________________________________
__________________________________________________________________
5.Formal definitions may be shortened to a more general form, which
includes less information. This is often called a semi-formal
definition. The class, that or which, and the verb to be are
omitted.
A restrictive trade law → controls → the number of goods imported
or exported
Term being defined → verb → definition
Change the formal definition from the previous exercise into
semi-formal definitions.
a.A multinational corporation is primarily based in one country
and has production and marketing activities in foreign countries.
b.____________________________________________________________________
____________________________________________________________________
c.____________________________________________________________________
____________________________________________________________________
TENSES
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