Unit 8 — Financial Statements

Today, almost all receipts and ledgers are digitized. This unit covers how the paperless office has revolutionized the accountant’s working day.

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Vocabulary Builder Activity

Students will learn the following key terms and phrases:

Bank reconciliation Cash in hand Cross-check Draft Invoice Irregularities Keep track of Ledger control Ledgers Meticulously Notes to the accounts Receipt Retain To file To post
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Reading Activity: Financial Statements

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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…
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Reading Comprehension Quiz

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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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Speaking Practice Activity

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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.
... and more sentences to practice.
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Writing Practice Activity

Improve your formal and informal writing skills with guided essay questions and professional correction.

  • 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?
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