Аннотации
.docxWHAT IS THE WORLD ECONOMY
1. We are all part of the world economy.
2. It’s not only as consumer of foreign goods and services that we are part of the world economy.
3. Foreign investments can also provide needed jobs for our friends and families.
4. The world economy is made up of all interactions among people, businesses and governments that cross international borders.
5. We use the world economy to achieve specific political or ecological objectives.
6. Whatever crosses an international border is part of the world economy.
UNIT 3 ACCOUNTING AND ACCOUNTANCY
1. Accounting involves recording and summarizing an organization’s transactions or business deals.
2. Financial accounting includes bookkeeping and preparing financial statements for stakeholders and creditors.
3. Management accounting involves the use of accounting data for making plans and decisions.
4. Auditing means examining a company’s systems of control and the accuracy, looking for errors or possible fraud.
5. Companies in most English-speaking countries are largely funded by shareholders, both individuals and financial institutions.
UNIT 4 BOOKKEPING
1. Bookkeepers record the company’s daily transactions: sales, purchases, debts, and so on.
2. Double-entry bookkeeping is a system that records two aspects of every transaction.
3. Every transaction is both a debit – a deduction – in one account and a corresponding credit – an addiction – in another.
4. Companies often record the transactions in day books or journals.
5. Creditors are recorded in a bought ledger.
6. At the end of an accounting period bookkeepers prepare a trial balance which transfers the debit and credit balances of different accounts onto the page.
UNIT 5 COMPANY LAW 1
1. Partnerships do not have limited liability for debts, so the partners are fully liable for any debts the business has.
2. A sole trader business – an enterprise owned and operated by a single person.
3. A company is a business that is a legal entity.
4. Most companies have limited liability, which means that the owners are not fully liable for the business’s debts.
5. These managers and full-time executive directors run the company for its owners.
6. Non-executive directors are often more objective: less influenced by their opinions and beliefs.
UNIT 6 COMPANY LAW 2
1. Private companies are not allowed to sell their stocks or shares on an open market.
2. Public limited companies have shares that are publicly traded on the stock exchange.
3. Listed companies have to make quarterly reports on: sales revenue or turnover, gross profit, net profit.
4. Quoted companies have to produce a half-yearly interim report which informs about the company’s progress.
5. All companies have to send an Annual Report each financial year.
6. Public companies have to hold an Annual General Meeting.
7. The directors or the shareholders can request to hold an Extraordinary General Meeting.
UNIT 7 ACCOUNTING POLICIES AND STANDARTS
1. Companies can choose their accounting policies.
2. There are a range of methods of valuation – deciding how much something is worth – and measurement – determining how big something is.
3. GAAP and IFRS are technical rules or conventions – accepted ways of doing things that are not written down in a law.
4. The accounts of British companies have to give a true and fair view of their financial situation.
5. Historical cost principle means that companies record the original purchase price of assets, and not their replacement cost.
6. Some countries with regular high inflation use inflation accounting systems that take account of changing prices.
UNIT 19 PERSONAL BANKING
1. A current account is an account which allows customers to take out or withdraw money.
2. Many people have a savings account or deposit account which pays more interest.
3. Commercial banks offer loans – fixed sums of money that are lent for a fixed period.
4. Banks exchange foreign currency for people going abroad, and sell traveler’s cheques.
5. Many commercial banks thought the future world be in telephone banking and interest banking or e-banking.
UNIT 20 COMMERCIAL AND RETAIL BANKING
1. When people have money that they need to spend, they may choose to save it.
2. Commercial banks can also move or transfer money from one bank account to another one.
3. The capital a bank has and the loans it has made are its assets.
4. Most retail banks have standardized products for personal customers.
5. Banks have more complicated risk assessment methods for corporate customers – business clients.
UNIT 21 FINANCIAL INSTITUTIONS
1. For most of the 20th century most banks operated in one country only.
2. The financial industry changed radically in 1980s and 90s when it was deregulated.
3. Before deregulation rules and regulations in the US, Britain and Japan prevented commercial banks doing investment banking business.
4. Today many large international conglomerates offer a complete range of financial services.
5. Individuals and companies can use a single financial institution for all their financial needs.
UNIT 29 STOCKS AND SHARES 1
1. Stock is also used to refer all kinds of securities.
2. A successful existing company wants to expand, and decides to go public.
3. The company gets independent accountants to produce a due diligence report.
4. If a company has only one type of share these are ordinary shares.
5. Holders of preference shares are repaid before other shareholders.
UNIT 33 BONDS
1. Bonds are loans to local and national governments and to large companies.
2. Companies issue bonds, called corporate bonds, because they can usually pay less interest to bondholders that they would have to pay if they raised the same money by a bank loan.
3. Borrowers – the companies issuing bonds – are given credit ratings by credit agencies.
4. The price of bonds varies inversely with interest rates.
5. Bonds with a low credit rating, but paying high interest rate, are called junk bonds.
UNIT 39 MERGERS AND TAKEOVERS
1. In the modern business world, the ownership of companies often changes.
2. This can happen in different ways: a merger: this is when two companies join together to form a new one; a takeover or acquisition: this is when one company buys another one.
3. A company can offer to buy all the shareholders’ shares at a certain price during a limited period of time – a takeover bid.
4. A company can buy as many shares as possible on the stock market, hoping to gain a majority – a raid.
UNIT 40 LEVERAGED BUYOUTS
1. A series of takeovers can result in a parent company controlling a number of subsidiaries.
2. When the subsidiaries operate in many different business areas, the company is known as a conglomerate.
3. An inefficient conglomerate whose profits are too law can have a low stock price and its market capitalization can fall below the value of its assets.
4. Leveraged means largely financed by borrowed capital.
5. Bonds issues to pay for takeovers are usually called junk bonds because they are risky.