modul.mercubuana.ac.id€¦ · Web viewMODUL PERKULIAHAN Bahasa Inggris III Unit 12: The Balance Sheet. Fakultas Program Studi Tatap Muka Kode MK Disusun Oleh Ekonomi dan Bisnis MANAJEMEN

MODUL PERKULIAHAN

Bahasa Inggris III

Unit 12: The Balance Sheet

Fakultas Program Studi Tatap Muka Kode MK Disusun Oleh

Ekonomi dan Bisnis MANAJEMEN 12 90026 Yudi Anjangsana, Drs. SE. MM.

Abstract Kompetensi

In our daily life, the need to pursue the highest career might be the best achievement. This module will guide you how to learn and understand what your current activity.

Students are expected to be able to comprehend what needed to identify their weaknesses and strength in connection with their career development.

MODULE 12

UNIVERSITY OF MERCU BUANA, JAKARTA

Reading:

The Balance Sheet

Financial statements are the final product of the accounting process. They provide information o the financial condition of a company. The balance sheet, one type of financial statement, provide 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 account receivable. On the other hand, liabilities are the debts owed by a company – 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 information about the assets, liabilities, and owners’ equity of a company at a specific time (for example, on December 31, 2007). It is made up of two parts. The first part lists the company assets, and the second part details liabilities and owners’ equity. Assets are divided into current and fixed assets. Cash, account 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 accounts payable and income taxes payable) and long-term 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 decision-making. Externally, it gives potential investors data for evaluation of the company’s financial position.

2016 2 Bahasa Inggris Bisnis 3

Pusat Bahan Ajar dan eLearningYudi Anjangsana, Drs. SE. MM. http://www.mercubuana.ac.id

http://www.mercubuana.ac.id/

I. Categories of the balance sheet can be classified to show the relationship between them. Fill in the blanks below based on the information provided in the reading and in Figure 1 below:

Class : Assets Class : Liabilities

Members : Current assets members : ………………………

………………….. ……………………….

Class : Current assets Class : ………………………….

Members : ……………………… Members : account payable

………………………. ……………………………

………………………

Class : ……………………… Class : long-term liabilities

Members : ……………………… Members : ………………………..

………………………. ………………………..

equipment

II. Complete the balance sheet by writing the correct terms from the list below: (figure 1)

assets current liabilities long-term liabilities

liabilities fixed assets current assets stockholders’ equity

International Manufacturing, Inc.

Balance Sheet

December 31,2007

Assets

………………………..

Cash $ 49,400

Accounts receivable 1,600

………………………

…………………………

Accounts payable $ 30,000

Income tax payable __19,000




Inventories __53,000

Total $ 104,000

…………………………..

Property $ 15,000

Buildings 50,000

Equipment _10,000

Total $ 75,000

Total assets $ 179,000

Total $ 49,000

……………………………….

Bonds $ 20,000

Long-term notes _ 40,000

Total $ 60,000

Total Liabilities $109,000

……………………………..

Common stock $ 47,000

Retained earnings 23,000

Total $ 70,000

Total Liabilities and

Stockholders’ equity $ 179,000

Figure 1

II. INFORMATION TRANSFER:

Miles Laboratoories, Inc, year Ended December 31, 2007

Balance Sheet (all figures in millions)

Assets Liabilities

Current Assets Current Liabilities

Cash $ 8,814.000 Bank Loans $ 38,242,000




Account receivable $ 59,711,000 Accounts payable $ 39,745,000

Inventories $ 68,597,000 Taxes on Income $ 5,613,000

Other $ 11,901,000 Current Portion of

____________ Long-term Debt $ 21,423,000

Total Current Assets $ 149,023,000 Total Current Liabilities $ 105,023,000

Investments $ 14,173,000

Fixed Assets Long-term Debt $ 85,864,000

Buildings $ 81,920,000 Deferred Income Tax $ 6,587,000

Machinery& Equipment $ 85,882,000 Other $ 573,000

Less Depreciation $ 70,025,000 Shareholders’ equity

Land $ 7,474,000 Preferred Stock, non

Construction in progress $ 9,871,000 issued

Total Fixed Assets $ 115,112,000 Common Stock $ 10,721,000

Other Assets Capital in Excess of

Goodwill & Trademark $ 53,910,000 Par Value of Stock $ 39,640,000

Patents& Processes $ 1,515,000 Retained Earnings $ 87,777,000

Other $ 1,021,000 Less Cost of Common

Total Assets $ 334,764,000 Stock Held in Treasury $ 1,421,000

Total Shareholders’

Equity $ 136,717,000Total Liabilities and

Shareholders’ Equity $ 334,764,000

Figure 2

Scan Figure 2 to answer the questions below:




1. What is the long-term debt for Miles Laboratories, Inc.?2. How much are the total current assets of this company?...................The total fixed

assets?...............................The total assets?....................3. Which current liability equals $ 5,613,000?4. Which type of asset is the highest current asset?

Refer to Figure 2 to answer the questions below:

1. There is no total given for long-term liabilities in this balance sheet. Which three categories should be added together to get this total?What are the total long-term liabilities?

2. What is the accounting equation for Miles Laboratories, Inc. on December 31, 2007? (Assets = Liabilities + Owners’ Equity)…………………. = …………………….. + ……………………

3. If Miles Laboratories, Inc. sells $ 50,000 in stock in order to raise capital for a new warehouse, which figures I n the balance sheet must be changed?

4. Which one of the items listed under shareholders’ equity must be subtracted from the total shareholders’ equity rather than added to it?

Grammar Exercises:

Please try to do this tenses exercise in multiple choice form:

QUESTIONS: Fill in each blank with the best response

1. If he doesn't come in the next 10 minutes, we __________________________ without him. (answer: will start)

started

would start

will start




2. He __________________________ a manager when he was 25. (answer: became)

has become

became

was becoming

See the difference between the two tenses:

He became a manager when he was 25. (ada keterangan waktu tertentu – particular time)

He has become a manager since he was 25. (waktu berjalan bukan suatu wkt tertentu)

3. __________________________ the details of the proposed merger. (answer: Let’s discuss)

Let's to discuss

Let's discuss

Let's be discussing

4. Our distributor called while I __________________________ to Jim. (I'm no longer talking to Jim). (answer: was talking)

was talking

have been talking

would be talking

5. I thought about your proposal, and I think we __________________________ it.

(answer: will accept)

accept

will have accepted

will accept

6. How long _________________ in sales? (answer: B or C, both answer are possible)

B or C

have you worked

have you been working

7. I have _________________ your proposal, and I'm quite impressed.

(answer: reviewed)

reviewed

reviewing

review




8. The mayor failed __________________________ the striking workers to return to contract talks. (answer: to persuade)

persuade

A or C

to persuade

9. The union __________________________ on Tuesday to resume contract talks.

(answer: agreed)

was being agreed to

agreed

has been agreeing

10. Negotiations __________________________ to continue into the weekend.

(answer: are expected – passive sentence)

are expected

are expecting

expect

11. __________________________ a strike, the company gave in to the workers' demands. (answer: Hoping to prevent – gerund functions as subject)

Hoping to prevent

Hoped to prevent

Hope to prevent

12. . Our employees __________________________ our strongest asset.

(answer: are)

are being

are

to be




13. __________________________ that for another meeting. (answer: Let’s leave)

Let's to leave

Let's be leaving

Let's leave

14. Our office usually __________________________ at 5:00 PM, but today we're staying open until 6. (answer: closes)

closes

is closing

closed

15. __________________________ business in third-world countries can be a frustrating experience. (answer: To do or doing, both are possible)

To do

Having done

Doing

16. Please ask Robert _________________to the meeting. (answer: to come)

to be coming

to come

come

17. By the time my boss gets here, I _________________ my report. (answer: will have finished)

will have finished

would be finished

finish

18. From now on, we __________________________ things differently.(answer: A or C are possible)

will be doing




A or C

will do

19. If he had told me about this earlier, I __________________________ someone else. (answer: would have hired – conditional sentence type 3)

will have hired

would have hired

will hire

20. I __________________________ those changes last week.(answer: implemented – simple past)

have implemented

have been implementing

implemented

21. Over that past three years, I __________________________ in a number of interesting projects. (answer: have been involved)

have been involved

A or C

was involved

22. . Right now I __________________________ in any project.(answer: A or C are possible)

am not being involved

A or C

am not involved

23. PERSON 1: Do you have time to talk? PERSON 2: Not really, I __________________________ pretty busy right now.




(answer: am)

am being

am

have been

24. I __________________________ to a trade fair until I went to the one in Las Vegas last month. (answer: had never been – lebih lampau dr until I went)

had never been

was never

have never been

25. They were one of our biggest competitors, but they ______________________

bankrupt last year. (answer: went)

went

have gone

had gone

SKILL 12 : USE ADJECTIVE CLAUSE CONNECTOR/SUBJECT CORRECTLY

In skill 11we saw the adjective clause connectors were used to introduce clauses that

describe nouns. In skill 12 we will see that in some cases an adjective clause connector is

not just a connector; an adjective clause connector can also be the subject of the clause at

the same time.

PAGE 223

223 STRUCTUR QUESTIONS (Paper and

Computer)

The woman is filling the glass that is on the table.



that is on the table


ADJECTIVE CLAUSE

The glass that is on the table contains milk.

ADJECTIVE CLAUSE

In the first example there are two clauses: woman is the subject of the verb is filling, and that

is the subject of the verb is. These two clauses are joined with the connector that. Notice that

in this example the word that serves two functions at the same time: it is the subject of the

verb is, and it is connector that joins the two clauses. The adjective clause that is on the

table describes the noun glass.

In the second example, there are also two clauses: glass is the subject of the verb

contains, and that is the subject of the verb is. In this example that also serves two functions:

it is the subject of the verb is, and it is the connector that joins two clauses. Because that is

on the table is an adjective clause describing the noun glass, it directly follows glass.

The following example shows how these sentence patterns could be tested in structure

questions on the TOEFL test.

In this

example you should notice immediately that the sentence has two verbs, is and has, and

each of them needs a subject. You know that table is not a subject because it follows the

preposition on; table is the object of preposition. The only answer that has two subjects is

answer (B), so answer (B) is the correct answer. The correct sentence should say: The

notebook which is on the table has four sections. In this sentence notebook is the subject of

the verb has, and which is the subject of the verb is. Which is also the connector that joins

the two clauses.



Example from the Paper and Computer TOEFL ® Tests

is on the table has four sections.

(A) The notebook

(B) The notebook which

(C) Because the notebook

(D) In the notebook

that is on the table


The following chart lists the adjective clause connector/ subjects and the sentence

patterns used with them:

ADJECTIVE CLAUSE CONNECTOR/SUBJECT

who

(for people)

which

(for things)

that

(for people or things)

S V

She needs a secretary who types fast.

S V

A secretary who types fast is invaluable.

4. It is going to be very difficult to work with the man which just began working here.

5. The door that leads to the vault it was tightly locked.

6. The neighbors reported the man who was trying to break into the car to the police.

7. These plants can only survive in an environment is extremely humid.



VAdjective connector/subject

VAdjective connector/subject

that is served in the restaurant that


8. The boss meets with any production workers who they have surpassed their quotas.

9. The salesclerk ran after the woman who had left her credit card in the store.

10. The shoes which matched the dress that was on sale.

Daftar Pustaka

1. David Catton, David Falvey, and Simon Kent, MARKET LEADER, Course Book, Pre-

Intermediate Business English, 2002, Edinburg Gate, Harlow, Essex, CM 2JE, England.

2. Betty Schrampfer Azar, Understanding and Using English Grammar, Second Edition, Prentice

Hall Regents, Englewood Cliffs, New Jersey 07632, 1989, United States of America.

3. Debora Philips, PREPARATION COURSE for the TOEFL TEST, The Paper Test, Pearson

Longman, Pearson Education, 2003, United States of America.




Documents

modul.mercubuana.ac.id€¦ · Web viewMODUL PERKULIAHAN Bahasa Inggris III Unit 12: The Balance Sheet. Fakultas Program Studi Tatap Muka Kode MK Disusun Oleh Ekonomi dan Bisnis MANAJEMEN