English Learning Guide

Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros- CSF

Name: Bleidy Alejandra Tovar Rodriguez Cohort:1961625-3 Date:11 th October

Adriana Lucia Rangel Pinzon 2020
Training program: Gestión Empresarial Instructor: Luisa Contreras

REPORTS AND DOCUMENTATION

This workshop attempts to enhance your accounting knowledge and it deals with basic accounting documentation
and reports, as with accounting-job-positions and functions.

Objectives: from the development of these activities, you will be able to identify the controller’s function in a
company and analyze accounting documents.

1. Work in groups and answer the following questions

- What’s an accounting report?
R/ They are documents which we are going to present to a company here we are going to present a summary of
the financial situation of the company
- Who is the person in charge of analyzing the information provided in the accounting report?
R/ They person in charge of managing this are and documents is company public accountant
- What do you think it is the main objective of analyzing accounting reports?
R/ have clear information on the company in order to evaluate the goals that are
- What is the information used for?
R/ allows company managers to identify economic strengths and weaknesses
2. Vocabulary search

Look for the following words/expressions.

SPELLING MEANING/DEFINITION SYNONYMS

Outsource Interim CFO Outsource a service or for a company Outsources, outsourcing,
outsourced, Outsize,
Outsourcing, Outpace,
Outside

Accounting Supervisors the business or work of organizing, maintaining, invoice , bill , record ,
and checking financial records. statement , check , tab ,
ledger , books, bill of
account, balance sheet,
register , reckoning , receipt
, charges, financial records.
Cost Accountants Is in charge of the preserver records. Price, damage, expense,
charge, value surcharge.
financial management relating to monetary income and expenses price. Business, monetary, money,
finance, making.

cost The price paid to buy produce or maintain Expense, toll, harm,
anything sacrifice ruin, detriment

Audit The inspection of something as a building, to Inspection, review, auditing,

determine its safety, efficiency , or the like cost survey, checking, test
exam, review.
English Learning Guide
Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros- CSF

Merge To combine into a single body. Combine, unite, fuse, join,

couple, absorb.
Acquisition The act of acquiring or gaining possession Procuring, buying, reception,
appropriation, getting,
obtaining.
Outsourced To purchase (goods)or subcontract(services) from Outsource, Outsized,
an outside company Outsourcing

3. Skills practice: Do the following activities to practice the learnt vocabulary and English structures.

3.1. Listening practice: video about source documents for

accounting.
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Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF
Before watching the video, work in groups to answer these questions:

- What documentation do you know from the accounting processes?

R/ bill of sale, bill of purchase, charge account, receipt of payment.
- What do you understand for general entries?
R/ is what entering the company either in money or merchandise
- What are the source documents in accounting?
R/ sales invoices, purchase invoices, cash receipts, proof of expenses, etc.1
- Share your answers.

Look for the following vocabulary: Look up the synonym or meaning and share some examples in groups.

Word Meaning/ synonym

Cash Money in the form of coins or banknotes.
Synonym: money,dough,bread,coin.
Invoice A bill, typically listing the goods sold or services provided along with
prices the total charge and the terms.
Synonym: bill,
Sales slip A receipt or other slip or paper issued by a store or other vendor showing
where a purchase was made and also the amount, date department.
Synonym: commerce, trade, business, revenue, profit.
Point of sale The store, dealer, or, other retail outlet where an item is sold.
Synonym: end, tip, nose, apex.
Purchase To get or obtain by the payment of money or its equivalent.
Synonym: buy, pay for, pick up, get, secure, acquire
Receipt The act of receiving or the state of being received
Synonym: delivery, reception, stub, ticked, voucher.
Bank Advice It is a service provided by a financial advisor who can help you in the
decisions you have to make regarding finances
Keep on file To hold or cause to remain in a given place, pot or store
Synonym: retain, conserve, support, possession

Goods Satisfactory or excellent in quality, quantity or degree

Synonym: merchandise, commodity, promote.
Accounting entry The business or work of organizing maintaining and checking financial
records
Synonym: description, report, narration, explanation.
Decrease The amount by which a thing is lessened
Synonym: decline, fall, drop, reduction, dropoff.

Watch the video “Source documents” https://www.youtube.com/watch?v=ssZZSw6k9PI

Make some notes and mark the statements TRUE (T) or FALSE (F)

- The accounting department receives papers (source documents) from other departments ( T)

- The auditors prove the documents have been prepared correctly and honestly (T)

- A Cash sales slip is not necessarily delivered to the customer (F)

1
Accounting source management https://bit.ly/379pSnv 13/10/2020
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English Learning Guide
Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF
- The sales invoice contains detailed information of the sale for the customer (T)

- Point of Sale summary is used for cash sales (F)

- Cheques are used for cash purchases, only (F)

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Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF

Read the definitions below and write the concept (title) in each box according to the description.
Notification

Cash
Shops receipts daily

Purchase
Sales
Invoise
invoice

Cheque Cash sales

slip

Answer the following questions:

- What are source documents?

A business paper that shows the nature of a transaction and includes all the details of the transaction.

- Why are those documents kept on file?

why are they necessary for accounting?

3.2. Reading practice: Reading about source documents role.

Before reading the text, discuss the following questions:

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 English Learning Guide
Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF
- What do you know about source documents now?
R/ according to our opinion, they are documents that are generated only once with the consent of the person all
with their respective signature
- Do you think photocopies or scanned documents are legal source documents?
R/ no these are not considered legal since they always ask for the original with their signatures
- Share some experiences.

Read the text and then complete the activities: Look up the underlined words if necessary.

Source Document Role in an Accounting Transaction 1

By Rosemary Peavler- Updated December 03, 2018

Each time a company makes a financial transaction, it generates some type of paper trail.
Accountants call this paper trail a source document or documents. If a small business writes
a check from its checking account for office supplies, for example, the check and office
supplies receipt become the source documents.

Importance of Source Documents: The source document is essential to the bookkeeping

and accounting process as it provides evidence that a financial transaction has occurred.
During an accounting or tax audit, source documents back up the accounting journals and
general ledger as an indisputable transaction trail.

You would keep source documents for your business just like you keep receipts for tax-
deductible items for your personal taxes. If your personal taxes are audited, the source
documents provide the proof that you've made those purchases. The same holds true for
your business, but in business, you keep original documents for every financial transaction,
not just charitable donations.

Important Data and Facts: A source document describes all the basic facts of the
transaction, such as the amount of the transaction, to whom the transaction was made, the
purpose of the transaction, and the transaction date.

Common source documents include:

o Canceled checks
o Invoices
o Cash register receipts
o Computer-generated receipts
o Credit memo for a customer refund
o Employee time cards
o Deposit slips
o Purchase orders
o Storing Your Documents

1 Adapted and retrieved from https://opentoexport.com/blog/a-guide-to-trade-documentation-financial-documents/

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English Learning Guide
Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF

The source document's information must be recorded in the appropriate accounting journal as soon as possible
after the transaction. After recording, all source documents should be filed away in some sort of system where
they can be retrieved if and when needed. In certain instances, it may even be important to provide the chain of
custody to be able to determine that the source document in question remained under your control.

Originals vs. Photocopies: In most circumstances, photocopies of source documents are legally acceptable. The
Internal Revenue Service (IRS), for example, has accepted photocopies of receipts since 1997, so long as they
are legible, contain all the information present in the original, and, within the limits of the scanning process, present
that information in a format identical to the original.

A materials receipt that specified the objects purchased and the price paid, but that was scanned without the name
of the supplier would not qualify. A document that presented all the information in the original receipt, but that had
been retyped in Word or Excel format would also not qualify.

The IRS standard of complete, legible, and accurate reproductions of the original documents is also used by
many businesses and government agencies. Other institutions,
however, may add to these general requirements.

The University of Washington, for instance, only accepts, as

substitutes for the original document, photocopies scanned at a
minimum density of 300 dots per inch (dpi) and presented in either
PDF or TIFF formats; it does not accept JPEG photocopies.

If you plan to scan accounting or legal documents to facilitate

storage, check with the relevant institution to be sure they will accept the documents in the format you're planning
to use.

Work in groups and answer the following questions:

- What is the article about?

R/this article tells us about the function of the document of origin of a transfer
- What is the concept of source documents?
R/ every time the company generates a transaction it generates a paper, this paper is the accountants call a
source documents.
- What are the documents used for?
R/ these provide us with evidence for the process that the company accounting must keep.
- According to The Internal Revenue Service, what are the requirements to accept photocopies of source
documents?
R/ that they are legible, that they contain all the information equal to the original, that the format is equal
to the original.
- Is it possible to scan accounting documents? Why?
R/ yes, they can be scan if they meet the requirements of each company their respective density and in required
formats.
- List some examples of source documents that are mentioned in the text and you have used before.
R/ invoice, employee time cards, purchase orders, deposit slip, cash register receipts.

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Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF
3.3. Speaking practice: Discuss in groups:
Watch the following video about the task controllers have and prepare an oral presentation
taking into account the following questions. Follow the link below:
https://www.youtube.com/watch?v=qHGKl6olQ6c&t=7s

- Who is the controller in the accounting process?

R/ the person responsible in this process is the controller
- What does a controller do?
R/ the controller is the one who develops the tasks aimed at managing the company, propose
mechanism for their improvement, optimizes internal processes and supervises the implementation of
prorocols and polices.
- What are the qualifications a controller must hold?
R/ desing the control instruments, make annual budget, implements the control report, carry out risk
control.
- What personal values a controller must have?
R/ honesty, quality, punctuality, competitiveness, respect, humility, empathy.
- Share your answers with the group.

3.4. Writing practice

 Create a job position advertising for an accountant. As shown in the example

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Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF

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English Learning Guide
Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF

R/

4. Extension activity: the extension activities will help you improve your performance in the topics.
You need to reach at least five hours of practice on your own.

- To watch a lesson about source documents, journals and ledgers, you

can visit: https://www.youtube.com/watch?v=yLAZSUPfs1w
- Explore this website to get some cheque samples https://freechequewriter.com/
- Download more free invoice templates:
https://www.invoicesimple.com/invoice- template
- To read about different firms and companies, visit: https://blog.abacus.com/why-
accounting-will- continue-to-be-profitable and
https://www.forbes.com/pictures/feki45efjgh/no-6-lessors-of-real- est/#2cbce08169a3
- Based on your instructor’s orientation, explore the following website and practice the English
structures. Do at least 2 activities from each topic studied in class and deliver them to your
instructor: http://www.esl-lounge.com/student/
- For more information about accounting financial reports,
visit: https://www.youtube.com/watch?v=ryrlfthXHPU
and https://www.youtube.com/watch?v=TLCaA7XUsa0
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English Learning Guide
Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF

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English Learning Guide
Competency 2
Unit 5: Accounting
Workshop 4
Centro de Servicios Financieros-
CSF

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