MINISTRY OF FINANCE OF UKRAINE

DNIPROPETROVSK STATE FINANCIAL ACADEMY

Tokun I.I., Yaremchuk L.I.

E N G L I S H

FOR FUTURE FINANCIERS

dnipropetrovsk – 2009

Tokun I.I., Yaremchuk L.I. English for future financiers. – Dnipropetrovsk: DSFA, 2009. – 164 p.

English for future financiers is a course for finance students majoring in finance. It consists of this book, a book of supplementary reading intended for self-study and an audiocassette.

Reviewed by Kuchina N.M., candidate of science, head of Foreign Languages Department.

Approved by the meeting of the Department

of Foreign Languages

Record №4 of 16.11.2009

Contents

PREFACE ...............................................................................................		4
UNIT 1.	WHY START A BUSINESS?...............................................	5
UNIT 2.	STARTING AND RUNNING A NEW BUSINESS ………	14
UNIT 3.	WHAT IS FINANCIAL MANAGEMENT?.........................	21
UNIT 4.	ACCOUNTING: AN AID TO DECISION MAKING .........	33
UNIT 5.	COSTS AND COSTING ......................................................	54
UNIT 6.	FINANCE ..............................................................................	69
UNIT 7.	MONEY MATTERS AND PAYMENT ...............................	88
UNIT 8.	TEXTS FOR SELF – STUDY ……………………………..	98
TAPESCRIPTS .......................................................................................		158
GLOSSARY.............................................................................................		160

Preface

English for future financiers is a course for finance students who major in finance and taxation. It is designed for 52 academic hours in a classroom setting and 27 hours of self-study.

The goal of the course is to develop and improve students’ English language skills in reading, speaking, listening and writing that are involved in studying finance and are essential for financiers.

This book contains 8 units covering in a coherent and logical order the most important questions concerned with starting and running a new business, financial management, accounting, finance, some aspects of money matters and payments.

Each unit includes the main text with a vocabulary, a few additional texts and supporting exercises designed to develop students’ English language skills in reading, speaking, listening and writing. Most tasks are intended for work in pairs or in small groups to help students develop the interpersonal skills they will need in their future work and to facilitate the learning process. The goal of the unit 8 “Texts for self – study” is to develop students’ English skills in supplementary reading texts pertaining to finance. Each text is accompanied by exercises designed to develop reader’s skills in finding key words, guessing the meaning of new words from the context, understanding both main points and supporting details contained in the text, and summarizing the material. End-of-book materials include tapescripts of audio materials and a glossary of key terms.

All the materials are based on austhentic texts from: Business studie (New Edition) by Susan Hammond (Longman Group UK Limited, 1998).

Unit 1 Why start a business?

Vocabulary

1. Match the following English words with their Ukrainian equivalents. Use your dictionary if necessary.

1. reason	18. personnel
2. to appreciate	19. failure
3. to make an attempt	20. to succeed (in)
4. to exploit	21. to lack
5. to adopt	22. to provide a service
6. employee	23. to depend upon, on
7. to inspire	24. to research the market
8. experience	25. to supply the product
9. redundancy	26. required quantity
10. to persuade	27. to relate to
11. to take on a risk	28. to get smth. to
12. to bring on a feeling of revulsion	29. premises
13. determination	30. to afford
14. conviction	31. to combine
15. entrepreneur	32. reward
16. to survive	33. input
17. to run a business	34. efficiency

1. необхідна кількість	17.оцінювати
2. ефективність, продуктивність	18. приміщення
3. надихати, запалювати	19. прийняти, вибрати
4. вести бізнес	20. скорочення штатів робітників або службовців
5. витрати	21. брати на себе ризик
6. причина	22. підприємець
7. дозволяти	23. невдача, неуспіх; банкрутство
8. удаватися, досягати успіхів, мети	24. рішучість
9. намагатися, робити спробу	25. службовець, робітник
10. переконувати	26. досвід
11. використовувати	27. переконання
12. викликати відразу до чого-небудь	28. досліджувати ринок
13. відносити до	29. надавати послугу
14. об’єднувати, з’єднувати	30. виживати
15. постачати продукт	31. персонал
16. винагорода, компенсація	32. бракувати
	33. залежати від
	34. постачати

2. Complete the charts with the different parts of speech. Translate the obtained pairs of words into your mother tongue.

Verb	Noun
	exploitation
	adoption
employ
	inspiration
experience
reduce
	persuasion
determine
convict
	survival
fail
	success
	provision
	dependence
	relation
	combination
	reward

Pre-reading task

Work in small groups.

Answer the following questions:

• What are the reasons for starting a business?

• Can you identify the major decisions to be made when starting a business?

Preface each answer with one of the following according to what is true for you:

I suppose that… In my view…

I am not sure… I have no idea…

Reading

1. Read text 1. How much of the information did your group already know?

TEXT 1