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46

Tasks to perform

1.Complete the following using appropriate words from the texts. You will sometimes have to change the form of the words.

The effects of globalization are:

1.People c…… more with each other across the globe.

2.The economy of many Asian and Latin American countries has g……and d …. .

3.The Internet and email mean that people can sh…. ideas and knowledge.

4.Tr…. between continents is much more widespread.

5.A few small companies can d….. an entire global industry.

6.The environment suffers from the p…. cause by the great increase in air travel.

7.In some cases, small countries can d….. too heavily on a single transnational company.

8.Global companies can ab…. their economic power by failing to pl…. b…. their profits into the economies of the countries in which they operate.

2. Which sentences in Exercise 1 are about the advantages of globalization and which about the disadvantages?

Can you think of any other advantages and disadvantages?

How many of the items you have worn, used, eaten, and drunk today come from another country?

What do you understand by “globalization”? How has it affected you as a consumer?

Unit 4 Financial Aspects of Business Operations

Part 1 An Accounting Overview

Words to remember

accounting (n) – accountancy; the work of keeping a company’s financial records, recording its incomes and expenses, and its business deals

to communicate (v) – to exchange information or ideas; to make information known informed (adj.) – basing on information and knowledge of the situation

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accurate (adj.) – exact; correct

to record (v) – to write information down or to store it in a computer to collect (v) – to bring together in one place; to gather

to classify (v) – to arrange into classes; divide according to a class or type to interpret (v) – to show the meaning of something

to report (v) – to give people information or account of something, e.g. especially of a company’s financial position

status (n) – one’s legal position, or condition

to achieve (v) – to succeed in doing or reaching something

to standardize (v) – to make all the things of one particular type the same as each other

to follow (v) – to act according to a particular plan or set of ideas; to obey regardless (adv.) – in spite of

to state (v) – to say; to express; to put into words common (adj.) – usual; general

to handle (v) – to deal with (to be responsible for doing something) to monitor (v) – to carefully watch and check the situation transaction (n) – 1. payment; 2. a business deal

financial statement (n) – statement showing the financial state of a business, at the end of a particular period of time including balance sheet, profit and loss account, and other necessary information

to reflect (v) – to show

to find out (v) – to learn or discover

procedure (n) – the official or accepted way of doing something, especially something that is done often

to audit (v) – to check and analyze a particular part of an organization’s activities or performance

to compute (v) – to calculate a number or amount to earn (v) – 1. to get money by working

2. to get something that one deserves because of good work

Certified Public Accountant (CPA) - an accountant in the USA who is a member of the American Institute of Certified Public Accountants and who holds a license from the state to work as an accountant

to fulfil (v) – to carry out; to do; to perform rigorous (adj.) – strict

solely (adv.) – only

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to require (v) – to need or make necessary; to demand by right to hire (v) – to recruit; to employ or appoint to a job

whereas (adv) – while

to maintain (v) – (here) to provide someone with

fee (n) – an amount of money paid to a professional person or organization for their services

to apply (v) – (here) to use

timely (adj.) – happening at just the right time; opportune

Tasks to perform

1. Give English equivalents of the words and word partnerships used in the text.

Бухгалтерский учёт (анализ хозяйственной деятельности);

передавать

финансовую информацию; различные заинтересованные стороны;

принимать обоснованные финансовые решения;

собирать и записывать

информацию;

обобщать и толковать информацию;

сообщать

информацию;

финансовое положение организации;

стандартизированная

система;

следовать принципам и правилам бухгалтерского учёта; несмотря

на тип компании; использовать общепринятые методы;

обрабатывать

информацию; контролировать доходы и расходы;

суммировать платежи;

финансовый документ; отчёт о прибылях и убытках;

балансовый отчёт;

финансовое положение компании; финансовая деятельность компании за

период времени; сравнивать одну организацию с другой;

сравнивать

отчётные периоды внутри одной организации;

самые последние отчёты о

прибылях;

выяснять что-либо;

специализироваться в области финансового

учёта;

бухгалтер; предоставлять бухгалтерские услуги;

проводить

ревизии отчётности (проверки);

подсчитывать налоги;

 

частнопрактикующий бухгалтер; бухгалтер, работающий только в частной компании; дипломированный бухгалтер высшей квалификации (аудитор); выполнять жёсткие требования; предоставлять (составлять) финансовые

отчёты;

бухгалтер, работающий в государственной структуре;

выплачивать

заработную плату (жалованье, оклад); тогда как (в то время как);

получать

плату за (гонорар); общепринятые системы финансовой отчётности; предоставлять точную и своевременную финансовую информацию.

 

 

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2. Match the verbs used in the text with their synonyms.

1)

to communicate information

a) to gather

2)

to record information

b) to divide according to class or type

3)

to collect information

c) to show

4)

to classify information

d) to learn or discover

5)

to summarize information

e) to give

6)

to interpret information

f) to watch and check

7)

to handle information

g) to make a short general statement of the main

 

 

points

8)

to reflect information

h) to make information known to

9)

to provide information

i) to write down

10) to monitor information

j) to deal with

11) to find out information

k) to show the meaning of

3. Find the appropriate terms for the following definitions.

financial statement

income statement

balance sheet

auditing

tax computation

expenditure

revenue

handle information

1)to collect, record, summarize, classify and interpret information means to …..

2)the total amount of money that a company or person spends during a particular period of time is …

3)a statement showing the financial state of a business, at the end of a particular period of time, including its balance sheet, profit and loss account, and other necessary information is …

4)a document showing a company’s financial position and wealth at a particular time, often the last day of its financial year is called a ….

5)calculating an amount of money that a person or a company should pay to the government from the money they earn is ….

6)a statement showing the amount of money earned and spent in a particular period of time by a company is called a ….

7)money that a business receives over a period of time, especially from selling goods or services is …

8)checking an individual’s or organization’s accounts, their activities is ….

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