Английский язык = English. Учебное пособие-1

Model 2: Who records all business transactions? – Private accountants do.

1.Who is explaining the situation to a new accountant?

2.Who had a fall in net profit?

3.What is keeping account period?

4.Who has been certified as an expert in taxation?

5.What has fallen?

6.Who is not comfortable with doing book-keeping?

7.Who speaks good English in the dialogue?

8.Who is looking for well-educated people?

9.Who can work as an accountant?

10.What is based in Birmingham?

11.Who will make the calculations?

12.Who wouldn’t quote shares on the London Stock Exchange?

Exercise 3. Fill in the missing question words and give short answers to these questions based on the dialogue between a managing director and a new accountant.

Model: … are they discussing? – What are they discussing?

–Changes.

1.… are our shares quoted?

2.… per cent do management accounts show?

3.… did we increase sales?

4.… happened?

5.… is a subsidiary based?

6.… is not sure?

7.… should have risen from sales?

Exercise 4. Express the following in one sentence as in the model.

Model: Sales were low last year. We did not make a good profit. Sales were low last year and we did not make a good profit.

You may also use although, despite, in spite of the fact that, whereas, however, nevertheless, in contrast (to), on the other hand, on the contrary, while, against, compared to, in comparison (to), but.

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1.There was a recession. Our sales increased.

2.They are a public limited company. Their shares are not quoted on the Stock Exchange.

3.The management accounts show a twenty per cent increase in turnover. They have a fall in the net profit.

4.Income from sales has risen. We had to lower the price of our main product.

5.The company didn’t decrease the sales. It had to absorb a price increase by one of its suppliers.

6.Our net profit has fallen. Our sales increased.

7.We maintain our overall gross margin. The price increase reduced our gross margin by 2 per cent.

8.The company is doing well. Our gross margin fell from 31 per cent to 14 per cent of sales.

9.Our turnover increased. We also had a fall in our net profit.

10.The company’s profits decreased. Its income from sales increased.

Exercise 5. Complete the following sentences with proper words from the exercise above.

1.… sales were down by ten percent last year, we made a good profit.

2.… there being more jobs on the market, unemployment will rise by two percent next year.

3.… there are more jobs, unemployment has risen.

4.… inflation went down in Japan in 2008, in all other countries it increased.

5.Last year production rose by 11 per cent; …, this was not reflected in increased sales.

6.Last year’s trading figures were very satisfactory. …, we mustn’t become complacent.

7.The manager must present a report of his recommendations for alternative work patterns. … He lacks adequate statistical information.

8.… I admit that the problems are difficult; I don’t agree that they cannot be solved.

9.The inflation in industrialized nations … that in developing ones is not so high.

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10.They are acting … the rules.

11.Those events went … to the firm’s interests.

Exercise 6. Express your agreement or disagreement with the following statements.

1.The company is not a subsidiary of the Primrose Group.

2.Primrose is a plc.

3.The company is in a favourable position at the moment.

4.London Stock Exchange’s broker works for the Primrose.

5.The turnover is increasing.

6.Net profit has fallen.

7.Company’s sales decreased in Eastern Europe.

8.The price of the company’s main product didn’t lower.

9.They increased sales of other products.

10.The supplier reduced the company’s profit.

Exercise 7. Choose the answer to the following questions.

1.What was the Managing Director explaining to the new accountant?

a)the financial situation b) the company’s shares c) the company’s position d) recession

2.The Managing Director mentions the recession. What is recession?

a) withdrawal b) drawback c) shortage d) scarcity 3. What did they intend to do to make profits rise?

a) to sell shares b) to absorb a price increase c) to increase sales of other products d) to buy securities

4. Where is the head office of the company?

a) in London b) in Birmingham c) Eastern Europe

d)Primrose

5.The price was increased by

a) Stock Exchange broker b) customer c) supplier d) manager

Exercise 8. Complete the dialogues.

1)A.: Are you a subsidiary of the Miria Group? B.: …

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A:You must be doing well. How much is the increase in turnover?

B:…

2)A: There is a fall in our net profit.

B:…?

A:I’m not sure. You see, despite the recession our sales increased.

B:…

3)A: So income from sales has risen.

B:…

A:So your income from sales increased but your profit decrease!

B:…

4)A: We hoped to make profits rise.

B:…?

A:By increasing sales of our other products.

B:Also …

5)A: One of our suppliers increased the price.

B:…

A:Yes, this reduced our gross margin on our other products.

B:…?

A: By three per cent.

Exercise 9. Work in pairs. Make up short conversations and act them out taking the roles of a managing director and an accountant.

1.You want to get the general information about the company.

2.You want to prove that the company is doing well.

3.You are discussing the management accounts.

4.You are speaking about your plans to improve the situation.

5.There is a recession. You want to increase sales.

6.You want to explain the price situation.

7.You suggest talking to your supplier about the price increase.

8.One of you has to find out the situation at the Stock Exchange with your shares.

9.The company’s shares are quoted on the New York Stock Exchange.

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10. You want to know if it’s possible to maintain overall gross margin.

Exercise 10. Respond to the situations as shown in the model. Make use of the construction to be going to do something:

Model: Situation: This company is doing well. They increased sales and the management accounts show a 20 per cent increase in turnover.

Response: The company is going to lower the price of the main product.

1.An accountant is looking through company’s records.

2.It’s the end of fiscal year. The managers have the meeting.

3.The management accounts of the company show a decrease in turnover.

4.Our main product sales are decreasing.

5.This business is comfortable with doing book-keeping or accounting.

Exercise 11. Make up dialogues on the following situations in English.

1.Коллега сообщает вам, что счета показывают увеличение товарооборота на 20%. Попросите у него объяснить, как это произошло. Он не уверен, что знает ответ, но считает, что возрос объем продаж. Вы делаете вывод, что доход от продаж увеличился. Коллега разделяет ваше мнение и говорит, что это хорошая новость.

2.Начните разговор с приветствия, традиционных фраз вежливости. Поинтересуйтесь, есть ли новости из дочерней компании вашей компании в Польше. Ваш собеседник сообщает вам, что произошло падение чистой прибыли. Вы говорите, что это ожидалось, так как цена основного продукта была снижена. Собеседник сообщает, что, несмотря на спад, продажи увеличились, и руководство надеется улучшить ситуацию.

3.Начните разговор с руководителем с традиционных фраз вежливости. Сообщите начальнику, о том, что прибыль за последние три месяца снизилась. Он говорит, что знает об

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этом. Руководство собирается поднять ее за счет увеличения продаж других продуктов. Вы предлагаете сделать это, сохранив полную валовую прибыль (overall gross margin). Ваш менеджер считает, что вам необходимо оплатить (absorb), несмотря на увеличение цены вашим поставщиком. Это снизило валовую прибыль (gross margin) от вашей другой продукции на 1,5 процента.

Exercise 12. Put the sentences in the right order to make a story.

A.Then our supplier increased the price.

B.Finally we had a fall in our net profit.

C.The first thing we did was lowering the price of our main product.

D.After that income from sales increased.

E.In the end our profits decreased.

F.The next thing was that our management accounts showed a per cent increase in turnover.

Exercise 13. Read the illustrative dialogue again and retell it on behalf of a company’s accountant or a managing director.

Exercise 14. Answer the following questions.

1.What is…

a)a public limited company? (plc)

b)Managing Director?

c)the London Stock Exchange?

d)the net profit?

e)the gross margin?

f)turnover?

2.What are management accounts?

Exercise 15. Describe the situation at Primrose Group company.

Discuss it.

Exercise 16. Read Sarah Brandston’s interview. Be ready to answer the following questions:

1.In what fields do most of Sarah Brandston’s clients work?

2.Why do they need an accountant?

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3.What does Sarah Brandston describe as “the basic rule for accounting”?

4.An individual can do business as a self-proprietorship. Sarah Brandston mentions two more types of business. What are they?

5.Sarah Brandston says “book-keeping is really a common sense way of keeping track of the income and expenses”. What does she mean by common sense in relation to recording expenses?

Sarah Brandston’s Interview

I’m Sarah Bransdton. I am an enrolled agent, which in America is a person who has been certified by the IRS as an expert in all areas of taxation. I operate a business that employs two or more people in addition to myself, that concentrates on filing income tax returns and other forms required by the federal and local governments related to income taxes and sales taxes, for my clients.

I tell people, on the most basic level, a lot of my clients are young people who are just starting out, and often they have no idea at all what’s involved, they might be talented in a certain field, they might be a good graphic designer, or might be a media person, or a writer, but that doesn’t mean they know how to run a business. The first thing I try and do is ease them on and tell them that the basic rule for accounting, in terms of their business, is that they have to keep records that accurately reflect their financial life in the business, and the records have to be accurate enough so that we together can file a tax return from them. That’s the bottom line, that’s really all it’s about. Then you go and you get into more complex forms of bookkeeping for corporations or partnerships, which have to follow both the generally accepted rules that are put out by the American Institute of Certified Public Accountants, and the rules that change on a daily basis that we get from the IRS.

Book-keeping is keeping good accounts period, it’s just to bring what comes in, it’s looking at how much income comes in, and it’s looking at what’s going out, and then further breaking down what goes out into the various categories that I’ve told

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them are important for tax purposes. So I usually say, in terms of their book-keeping that they should set up categories that make sense to them in their business. They wouldn’t want books and periodicals with car expenses, it’s just what I think is most common sense...

Book-keeping is really a common sense way of keeping track of the income and the expenses.

Interviewer: The kind of companies you work with, can you just describe the sort of range of input you give them? I assume you see them sort of more than once a year?

Sarah Brandston: Right. In terms of the people that I do, my clients who have their own businesses be they self-proprie- torships or small corporations or partnerships, most of the people I deal with are in creative fields. I have several film makers, I have architects and people of as my corporations, and music, those are the kind of people I think of. They’re generally people that are not comfortable with doing book-keeping, or accounting, nor do they have enough revenue in their companies that they want to, or that they’re able to pay the type of accountant that needs to see them on a monthly basis, and charge them a minimum of twenty four hundred dollars a year, let’s say, to do all the accounting, the book-keeping, and the tax preparation for them, so I try to keep my costs low so people can function, continue to function as a business... [17, pp. 58–59]

Notes:

IRS – Internal Revenue Service which collects taxes from individuals and businesses in the USA.

Exercise 17. Ask and answer questions. Start your answers with

I think..., I believe….

1.When Sarah was certified as an expert in taxation.

2.What IRS is.

3.Where Sarah studied.

4.How often Sarah’s clients see her.

5.With what Sarah starts her work with clients.

6.What kind of rules the accountants have to follow.

7.Who sets these rules.

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UNIT 2

KEY ACCOUNTING CONCEPTS

1.The Accounting Equation.

2.Double-Entry Book-keeping.

Grammar: The Infinitive. The Infinitive Constructions.

PHONETIC AND LEXICAL EXERCISES

Exercise 1. Read and pronounce the following words.

Exercise 2. Read the following words paying attention to the stress.

Deduction, double, recording, collection, rental, balance, inventory, sum, observation, central, legal.

Exercise 3. Read the following words. Translate them.

Equal – equally – equate – equation – equality; own – owner – ownership;

owe – owing; value – valuable.

Exercise 4. Form words with the help of the suffixes -tion, -al, -ory.

Government, business, explain, centre, deduct, collect.

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