ENGLISH FOR FINANCE AND ACCOUNTING UNIT 9 a CLEAN REPORT

CAN THO UNIVERSITY COLLEGE OF ECONOMICS  - ENGLISH FOR FINANCE AND ACCOUNTING UNIT A CLEAN REPORT Instructor: M.A Pham Lan Anh Can Tho, April 2018 NAMES Trần Thị Minh Trúc Phan Văn Dũng Kim Nhật Anh Ngư Tăng Trần Quỳnh Như Châu Ngọc Thùy Trang Lê Nguyễn Nhã Tuấn ORDER NUMBERS 03 05 09 10 12 13 CHARACTER NAMES EVALUATION LISA (Secretary 1) JOHN (Chief Accountant) ANNA (Accountanct) MARRY (Auditor/ Secretary 2) LYLY (Chief Auditor) DAVID (CEO) 50% 95% 100% 100% 100% 100% At XYZ commercial bank Phone from headquarters to branch bank Secretary 1: Alo! This is a branch of XYZ commercial bank in Can Tho I’m Secretary May I help you? Secretary 2: Hello! My name is Lucy and I am the secretary of the head office of XYZ Bank In the near future, the bank's head office will need financial information from its branch banks to complete its annual financial statements The board will send an audit team to review the bank's financial statements on April 13 I inform you so Secretary 1: I am understand Thank you Secretary 2: No problem Goodbye Secretary 1: Goodbye At branch bank The secretary knocked on the door of the director's office CEO: Invite Secretary 1: Report the director! I received a call from the headquarters They said they would have an audit at our branch bank on April 13 CEO: I know! Please help me call the chief accountant into here Secretary 1: Yes sir! The director meets the chief accountant Chief Accountant: Director for calling me! CEO: The chief accountant should prepare me a consolidated financial statement of our bank's business operations in the past year The next week submitted to me Chief Accountant: Yes sir! What more boss need? CEO: No! you can go to work Chief Accountant: I greet the director! In the accounting department Chief Accountant: We need to prepare a consolidated financial report for the next week Accountant will be in charge of reporting to me Accountant: Yes, sir! The bank chief asked the secretary to prepare the meeting on April 10 and invite the relevant people to work together On the day of the meeting CEO: How much progress have you made? Chief Accountant: Basically, they have completed the financial statements and the related documents for explanation and then the boss CEO: you guys are strenuous Then today let's present what we have done, to see if it is fit and we finish it together Accountant: Please go to the summary of the financial statement, generally for the past year, banks are profitable Total assets, capital increased CEO: Thank you for your explanation I think it seems complete, please submit to me as scheduled April 13 At the meeting room of the company, the audit meeting started at 7:30 am Director with secretary and accountants are preparing financial report documents CEO: You must be very hard today! The report prepared very well, the board of directors have compliment! Chief Accountant: Thank you Director! That is our responsibility! Accountant: That's right! CEO: After the audit today, the bank will have a small party, you join them offline Both Accountants: Yes, sir CEO: It's about time! Are you ready? Both Accountants: Yes Outside the meeting room The secretary just sang and waited for the auditor to come Two auditors arrived Secretary : Hi, I am Being in the secretary position Nice to meet you Chief Auditor: Hello! Nice to meet you Auditor: Hello! Nice to meet you Secretary 1: The director is waiting for you inside Invite you in In the meeting room, everyone in the meeting room stood up to greet the audit team Clerk started introducing: Secretary 1: Hello Director! These are two auditors from AFC Vietnam They will be in charge of the audit today This is the director of our bank! (the clerk hands over to the director) CEO: (shaking hands) My name is David Nice to meet you Chief Auditor: Hello Sir! My name is Lyly As chief accountant, And here is Marry as an auditor Nice to meet you Auditor: Hello We come from AFC Auditing Company Limited Nice to meet you Secretary 1: This is the chief accountant and accountant of our bank (Hands on two accountants) Chief Accountant: Hello My name is John Nice to meet you Accountant: Hello I am Anna Nice to meet you CEO: Invite everyone to sit We start working Content: Scenes The secretary delivers the documents to the audit committee CEO: At the end of one year of operation, we have completed the financial statement, to verify the truthfulness of the report, so we have a meeting today Let's take a look Secretary 1: Invitation to account explanation of the report Accountanct: Last year, Our bank has good business Detail deposits at the State Bank increased 2.2 billion VND Risk provisions decreased by 29 billion VND Interest rate and receivables increased 7.2 billion VND However, Total assets reserved 211.5 billion VND Classification of Loans at other credit institutions into deposits at other banks were VND 677.4 billion Payables and liabilities decreased by VND 211 billion Liabilities and owner capital reserved 211.5 billion VND We have detailed statistics on the document Chief Auditor: Thank you for your presentation We would like to congratulate you on your good year The financial statement is quite complete However, we need the bank to explain one more detail Firstly, for units calculated according to the Accounting Law must be in VND but your bank's financial statements use a unit of thousand, this is not appropriate, you need to edit Chief Accountant: We accept this error We will fix it Auditor: Secondly, in terms of other expenses, we noticed a sudden increase in comparison with the previous year CEO: In the past year, the bank has had a great event celebrating its 50th anniversary To better understand this activity, I suggest the chief accountant explain to the accountancy Chief Accountant: Other expenses increased mainly due to the cost of organizing this anniversary event During the anniversary, the bank offered many valuable rewards to employees and loyal customers, especially Support activities to build houses for the poor households (the secretary adds the bills to the audit committee) Therefore, last year there was an increase in cost Auditor: As for tangible fixed assets, we see a sharp increase over the previous year, we need the bank explain CEO: In this regard, I would like to invite the chief accountant of the bank explaining Chief Accountant: On behalf of the company I would like to explain this matter as follows: The value of tangible fixed assets increased to VND billion due to the structure of the bank changed the means to serve employees in far jobs This change is part of the bank's plan to change the face of the bank Auditor: According to previous information, we are aware that the bank still has many fixed assets have not expired depreciation Here are the means of transportation Is this change really necessary? CEO: This change contributes to enhancing the bank's image in society At the same time, it creates a professional and classy working environment for the group of employees who actively contribute to the operation of the bank Auditor: We understand, thank you Chief Accountant : Regarding these errors, our bank will amend and submit the complete report for you next week Chief Auditor: Yes CEO: Thank you for coming here coming lunch, everyone can eat together? Chief Auditor: No, we return to complete the audit report, dear sir Auditor: Good bye Chief Accountant: Bye Accountant: Bye Secretary 1: Please follow me After the meeting, two auditors wrote the audit report and sent it to XYZ bank Because the bank branches operate effectively, it was rewarded ... together Accountant: Please go to the summary of the financial statement, generally for the past year, banks are profitable Total assets, capital increased CEO: Thank you for your explanation I... report, so we have a meeting today Let's take a look Secretary 1: Invitation to account explanation of the report Accountanct: Last year, Our bank has good business Detail deposits at the State... bank to explain one more detail Firstly, for units calculated according to the Accounting Law must be in VND but your bank's financial statements use a unit of thousand, this is not appropriate,