The field of Accounting

Improvement in the heat rate of modern boiler units and turbines results mostly from the high cycle efficiency possible with high steam temperatures.

Important reasons for accurate steam temperature regulation are to prevent failures due to excessive metal temperatures in the superheater, reheater,or turbine; to prevent thermal expansion from dangerously reducing turbine clearances; and to avoid erosion from excessive moisture in the last stages of the turbine.

The control of temperature fluctuations from variables of operation, such as slag or ash accumulation, is also important.

With drum - type boilers, steam output is maintained by firing rate, while the resulting superheat and reheat steam temperatures depend on basic design factors, such as total surface quantity and the ratio of convection to radiant heat absorbing surface. Steam temperatures are also affected by other important operating variables such as excess air, feedwater temperature, changes in fuel that affect burning characteristics, ash deposits on the heating surfaces, and the specific burner combination in service. In the once- through boiler, which has a variable steam- water transition zone, coordination of the firing rate and the boiler feedwater flow rate control steam output pressure and temperature, leaving reheat steam temperature as a dependent variable. Standard performance practice for steam generating equipment usually permits a tolerance of ±10F (6C) in a specific steam outlet temperature.

UNIT ONE

The field of Accounting

Accounting: The recording, classifying, summarizing, and interpreting of those business activities that can be expressed in monetary terms. The term accounting also refers to the principles underlie this process. Accountancy is sometimes used as an alternate expression, especially for the practice of accounting. A person who specializes in this field is an accountant.

Bookkeeping: systematic recording of financial information. The bookkeeper does not design or set up record-keeping system nor does he or she interpret financial transactions, as does the accountant. The bookkeeper’s job is to keep to accurate record of financial data. Financial records are frequently referred to as the books of account.

Certified Public Accountant: Ordinarily abbreviated referred to as a CPA.A CPA is an accountant who has passed a series of examinations and received a certificate or license, entitling him of her to render an opinion, qualified, as to the fair presentation of the data in the statements. In the United States, the examinations are held on statewide basis. The British equivalent of a CPA is a chartered accountant.

Fiscal: Another term for financial; in other words, this term refers to matters of money.

Cash Flow: The actual receipt and expenditure of cash by an organization.

Organization Chart: A graphic layout that illustrates the rank and/or departmental and functional operations in a company or organization.

Management: The planning directions of the policy and operations of an organization. The term refers both to the principles that apply to management and to the people who carry out the functions of management.

Audit: A review of an organization’s financial records by an accountant. A person who performs an audit is an auditor.

Asset: Anything of value or use to an organization. This includes cash, receivables, securities, property, intangibles, such as good-will. Good-will is the extra value (such as company’s reputation and other intangibles) of a business not reflected in its financial statements. It is usually determined at the time of sale and purchase of a business. The word “asset” is frequently used in the plural.

Governmental and Institutional Accounting: A specialized branch of accounting that deals with government agencies or nonprofit organizations. Legal as well as financial matters are often involved.

Cost Accounting: A branch of accounting that deals with the analysis of certain accounting values. It is usually associated with the determination of the actual unit value of an item manufactured by a company.

Managerial Accounting: A branch of accounting that deals with fiscal reports which are particularly useful to management in establishing operating polices for an organization.

Controller/Comptroller: The chief financial officer of an organization. The two words are pronounced in the some way.

Vocabulary Practice:

1. What does the term accounting refer to? What other term if used as an alternate? What is a person called who specializes in the field?

2. What does bookkeeping refer to?

3. What are the differences between the duties of a bookkeeper and those of an accountant?

4. What is a certified public accountant? What abbreviation is commonly sad? What is the British equivalent?

5. What does the word fiscal refer to?

6. What is cash flow?

7. What is the purpose of an organization chart?

8. What does the term management mean?

9. What is an audit? Who performs it?

10. What are the assets of an organization? What is goodwill?

11. What are does a governmental and institutional accountant deal width? What kind of matters may be involved?

12. What does coast account at deal with?

13. What does managerial accounting deal with?

14. What is a controller or comptroller? How is each word pronounced?

Ex.I. Read and translate the following text:

Date: 2014-12-29; view: 1541