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UNIT 10
What are Financial Statements?
define income statement
define statement of cash flows
read and analyze both statements
Learning Objectives
Teaching Contents
Focus on the Topic
1
Vocabulary Study
2
Reading One
3
Task-driven Practice
4
Reading Two & Writing
5
Pair Work: Discuss the following questions with your partner.
1. What is an income statement and what are the two basic formats for it?
2. What accounts are maintained on the income statement?
3. What is the statement of cash flows and how to analyze it?
Focus on the Topic
1. The following words and phrases are from Reading One. Fill in the blanks with them and change the forms where necessary.
Vocabulary Study
volatile
distort
diverse
aforementioned
even out garner
numerous
coincide
as stated
in the long run
1 House prices keep rising and falling but they will eventually ________________.
2 His tastes and habits amazingly _________________ with those of his wife.
3 Mr. Smith gradually _________________ a national reputation as a financial expert.
4 The bias of a reporter can easily ___________________ the news.
5 Europe is a continent of ________________ cultures, languages, traditions and beliefs.
even out
coincide
garnered
distort
diverse
1. The following words and phrases are from Reading One. Fill in the blanks with them and change the forms where necessary.
Vocabulary Study
volatile
distort
diverse
aforementioned
even out garner
numerous
coincide
as stated
in the long run
6 With the markets being so __________________, investments are at great risk.
7 Our two countries have established a cooperative partnership __________________.
8 The library has ______________________ books, more than I had ever expected.
9 Below, I list some important ways of handling the ____________________ problems.
10 _____________________ previously, time is of utmost importance when responding to an aircraft accident.
volatile
in the long run
numerous
aforement