Post-listening

1. Consider the following points. Share your ideas with a partner or a small group. Be prepared to explain your answers to the class.

1. What does the work of W. Buckhurst entail?

2. Why is stock valuation one of the most difficult jobs?

3. What for are the cheques made out to members of the staff in Harper & Grant Ltd.? In what way are they cashed?

4. What is the reason for the anomaly in the bank statement?

5. What was wrong with the withdrawals on the bank statement?

2. Recount the situation as if you were Mr. Brent. Sum up the anomalies found in stock valuation and in the cheques made out to members of the staff.

3. Suppose you are Donald Kennet. Do you find it fair to dismiss you?

4. Give a lecture on auditing the accounts of a limited company. Illustrate it with the situation in Harper & Grant Ltd.

5. Act out

   1. a conversation between Brent and Buckhurst. Discuss the pro and contra of stock valuation;

   2. an imaginary talk between Buckhurst and Kennet after the dismissal;

   3. a conversation between Brent and Buckhurst. Discuss the anomaly with the withdrawal on the bank statement.

Unit 21

Debtors

Phrase list

Listen to the tape and practise the pronunciation of the following words and word combinations, quote the sentences in which they are used in the unit. Consult a dictionary and translate them into Russian.

to chase up bad debts

Retail / wholesale business

to do business on a cash basis / on credit

to defer payment

the amount (total) due on a particular transaction

to receive long/short credit

to offer an inducement to somebody

to become insolvent

debt collector

to be a good credit risk

to write to the bank for a reference

to get a drive on

to get payment on one or two of outstanding accounts

retailer

overdue accounts

to default

to put a professional debt collector on to collect debts

to bring in a third party

to use legal pressure

the salary scheme

to pay a basic salary supplemented by a commission on sales

a graded salary based on sales quotas

to make an estimate on something (probable volume of sales)

to keep up to the quota / to surpass the quota

PRE-LISTENING

Task I

Consider the introduction to the unit. Answer the following questions and be ready to give a story line. Use the word combinations in brackets.

1. On what basis is business usually done?

(retail business; wholesale business ; to do business on a cash basis; to do business on credit; to collect debts; to chase up bad debts; money which has been owed to the firm for a long time)

2. On what terms does H & G Ltd. do business?

(to give credit; to defer payment; an individual sale; to send an invoice to the customer; a list of the goods delivered; the amount due on a particular transaction; to be sent an account; to show the total amount due)

3. In what way are due payments stipulated?

(to receive long credit from the suppliers; to give short credit to the customers; to be fairly common; to offer an inducement to customers; to pay earlier than somebody needs; to offer a discount; to pay slightly less; to pay within ten days of the date of invoice)

4. Do debtors always pay back? Why? What happens if not? What can be done to overdue accounts?

(the debtor cannot pay; to get the money; to supply the firm with goods; to become insolvent; to run the firm; to be dishonest; accounts not paid in time; overdue accounts; a sales representative; to collect the money; to make enquiries; to employ a professional debt collector)

5. Why do companies try to avoid being bad payers?

(to get a reputation for being a bad payer; to get supplies on credit; to give information about the financial situation of a company; to judge something; to be a good credit risk; to suggest that a supplier writes to their bank for a reference)

Task 2

Give the English equivalents for the following word combinations:

стать неплатежеспособным	производить расчеты наличными
розничная торговля	отложить платеж (платить не сразу)
оптовая торговля	просроченный, невзысканный счет
получить долго - (кратко-) срочный кредит	напоминать о долгах, давно подлежавших погашению
кредит с высокой степенью возвратности	обращаться в банк за рекомендацией
не выполнить взятые на себя финансовые обязательства	получить платеж по неоплаченным счетам
подсчитать приблизительный объем продажи товаров	дифференцированная зарплата, основанная на доле с продаж
производить расчеты в кредит	придерживаться квоты
сумма причитающаяся по данной сделке	платить базовую ставку плюс долю с продаж
пригласить третью сторону	заниматься чем-либо вплотную
превысить квоту	система организации оплаты труда
уполномоченный по взысканию задолженностей	предложить побудительный мотив (заинтересовать)