What is Accounting?

B1 – Intermediate

In simple terms, accounting refers to recording and reporting financial information. It often involves measuring, summarizing, and analyzing a business or corporation’s sales figures and communicating them to tax authorities. 

Watch the video to know more about accounting and how it keeps a systematic and accurate record of company’s activities.

Vocabulary Questions:

  1. What is the meaning of the word “challenging”? “I think you could see that could be quite challenging. Use it in a sentence.
  2. What is the meaning of the word “proficiency”? “However, if you had some proficiency in the foreign language your trip would likely be enjoyable”. Use it in a sentence.
  3. What is “immersion”? “So, how do students study for language classes? With practice and immersion.” Use it in a sentence.

Discussion Questions:

  1. According to the speaker, how should students study both languages and accounting?
  2. What is accounting for?
  3. Do you agree with the speaker when he said, “Accounting is really a foreign language class?” What do you think he meant by this? Share your points of view.
  4. How is accounting similar to any other subjects?
  5. Why is accounting important in a business?
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