II. Read and translate the text.

Computer use continues to grow and develop in all spheres of our life. Its applications have had a great impact on the business world. Computers have helped society by increasing productivity and simplifying mane services, such as accounts, credit cards, and telephone service.

A computer is an electronic machine that can store, retrieve, and process data with great speed and accuracy.

A PC is a personal computer which is the standard computer for most individual users. There are various sizes of personal computer, including a desktop. And portable types such as a laptop, a notebook or a palmtop.

Hardware is the actual machinery of a computer, the circuits, wires, and drivers.

Software contains the instructions that tell a computer what to do at every step along the way. Software is entered into a computer in the form of a program. Some programs (called viruses) are deliberately designed to cause problems in a computer system. They are hidden in programs, and are not obvious to users.

A virus is an error that is introduced into a program with the intention of causing a malfunction. A computer way crash and stop working altogether. This may be caused by a bug (an error in the software).

A hacker is e person who gains unauthorized access to computer system.

III. Answer the following questions:

1. What is the computer?

2. What impact do computers have on the business world?

3. What is the PC?

4. What kinds of personal computers do you know?

5. What is hardware?

6. What does software contains?

7. What causes problems in a computer system?

8. What is the virus?

9. What do we call a person who gains unauthorized access to computer system?

10. What kind of PC would you prefer to have, a desktop or a laptop?

Financial statements

I. Study the vocabulary:

financial statement фінансовий звіт (компанії)

financial performance фінансова діяльність (компанії)

compile (v) укладати, збирати (матеріали тощо)

auditor аудитор, ревізор

annual report річний звіт

profit and loss account звіт про прибутки та збитки

(p&l)/income statement рахунок прибутків і збитків

revenue дохід, надходження, прибуток

expenditure витрати, витрачання, видаток

turnover оборот

balance sheet баланс, балансовий звіт

mortgage іпотека, застава, заставна

cash flow statement баланс оборотних коштів (активів)

accuse (v) звинувачувати (у чомусь - of)

window dressing прикраса вітрини, причісування балансу

creative accounting творчий бух облік

II. Read and translate the text.

A company and its shareholders need to know information about the company’s financial performance. This information is compiled by the company accountants and checked by independent auditors. The company’s annual report consists of three financial statements:

• Profit and loss account/P&L (BrE) or income statement (AmE)

This account shows the revenue (money coming into the business) and expenditure (money going out). It also shows the company’s turnover (total sales), costs and overhead.

• Balance sheet. This account shows the financial situation of the company on a particular date, usually the end of the financial year. It consists of a list of assets (cash investments, property and debtors – money owed by customers) and liabilities (all the money that the company will have to pay out, such as taxes, mortgage and money owed to suppliers). Firms in a good situation are said to have a strong balance sheet and those that are not, a weak one.

• Cash flow statement. This document shows the follow of cash in and out of the business. In includes sale of assets, issuing of shares, payment of dividends, trading profits and many other activities.

When company’s accounts are presented in a way that makes performance look better then it really is, the company may be accused of window dressing or creative accounting.