Английский язык = English. Учебное пособие-1
.pdf7.There is some danger of sales falling.
8.Many of the present staff are unlikely to want to move.
9.There is very little chance of a 10% rise in salary this year.
Exercise 11. Work in small groups. Discuss the probability of the following events.
1.An improved cost accounting system to be developed soon.
2.The staff being familiar with the software.
3.The bugs being ironed within the next few days.
4.Changes to be done by the end of the fiscal year.
5.The software to be modified.
6.Any employee getting a rise in salary.
7.Another company being installed on the system.
8.Two sets of accounting codes are to be used.
9.The transactions are going to be analyzed by activity.
10.The expenses will be calculated easily.
11.The problem of the choice of activities will be solved in three days.
12.The departmental managers will make a list of the key activities.
Exercise 12. Put the sentences in the right order to make a story.
A.Then we found some bugs.
B.Finally the staff is very good at working with each module.
C.It was difficult to work with the modules at the beginning.
D.After that we got good software support.
E.In the end all those bugs have been ironed out.
F.We had to use the telephone helpline a lot.
Exercise 13. Say the same in a different way.
1.The software allows us to use two sets of accounting codes.
2.We must be able to produce our local Statutory Accounts in the exact format laid down by the Accounting Law.
3.The software itself won’t have to be modified.
4.The list is endless.
5.The current method significantly overstates the cost of the product.
51
6.This will be done by determining which product factor drives or influences that activity.
7.Overheads are given as a percentage of labour expenditures, based on historical data.
Exercise 14. Read the illustrative dialogues again and speak on the changes in the Primrose accounting system on behalf of a financial controller or a financial accountant.
Exercise 15. Respond to the situations. Make use of the construction want somebody to do something.
Model: Situation: This company is not doing well. They decreased sales.
Response: The manager wants the company to increase sales.
(They want the company to do well.)
1.An accountant is saying they did not get good software support.
2.Financial accountant is afraid it is rather late for the changes.
3.The Group Finance Department needs additional information.
4.You’d better talk to the manager and agree with him the key activities in his area.
5.You haven’t recalculated the current unit costs of the product yet.
Exercise 16. Make up dialogues on the following situations.
1. Начальник сообщает вам, что в вашем отделе будут произведены некоторые изменения. Вы и сотрудники вашего отдела должны быть знакомы с новым программным обеспечением по бухгалтерскому учету. Попробуйте объяснить ему, что это, возможно, довольно неудобное время для изменений, т.к. через три месяца заканчивается финансовый год. Но он считает, что все будет в порядке и говорит, что новая система учета позволяет эффективно анализировать все сделки хозяйственной деятельности.
52
2.Начните разговор с приветствия, традиционных фраз вежливости. Поинтересуйтесь, необходимо ли рассчитать приход и расход компании от инвестиций. Ваш собеседник отвечает вам положительно и добавляет, что это займет много времени. Вы говорите, что он абсолютно прав в этом, поскольку необходимо рассчитать такие расходы, как эксплуатационные, расходы на энергопотребление, амортизацию, стоимость используемых площадей, страхование и так далее.
3.Начните разговор с руководителем с традиционных вежливых фраз. Сообщите о том, что в результате анализа используемых методов оценки и калькуляции обнаружено несколько методологических ошибок. Он говорит, что хочет, чтобы вы определили, какой фактор влияет на хозяйственную деятельность. Он также планирует обсудить эту проблему с руководителями других отделов.
Exercise 17. Read the extract from a memorandum (Analysis) from the Financial Сontroller giving details of a new costing system which he intends to install. Be ready to answer the following questions:
1.How did the methodological errors affect costing at the company?
2.What did the Financial Controller base his calculations on?
3.What did he discover about the reported cost of the “Vik”?
4.What was the Financial Controller’s proposed solution?
Analysis
My department has examined the costing methods used to decide product selling prices and profitability and we have found several methodological errors, particularly in the allocation of overheads to products. We therefore recalculated the current unit costs of two major products (including the “V” Energy Saver) using activity costing methods. This meant we cost them on the basis of activities such as production, quality control, handling and storage and maintenance.
The result showed that the current method significantly overstates the cost of the “Vik” and that the reported cost is lower and the selling price could be lowered.
53
Under the present costing system overheads are given as a percentage of labour expenditures, based on historical data. This method ensures that all overheads are absorbed or charged to products but does not calculate the correct actual cost of resources used in the production of a product.
Proposed Solution
We should establish the cost of the contribution of each activity to each unit, and then charge products their share of all the contributing activities.
This will be done by calculating the forecast or budgeted cost of each major activity and determining which product factor drives or influences that activity. The cost driver may be expressed in various ways – in terms of hours, volume of actions, orders, inspection, etc.
The main categories of overhead expenditure or activities for which a cost driver rate will be established are:
Material procurement |
Material handling and storage |
Production set-up |
Maintenance |
Quality control |
Machinery department |
Fitting department |
Packing and dispatch |
Finance department staff will visit departmental managers to discuss which activities drive the costs which arise in each department [18, p. 65].
Exercise 18. Discuss:
a)why the old system of unit costing was wrong;
b)how they could decide what proportion of the activities in the company could be added to unit costs.
Exercise 19. Give an example of an economic activity.
Exercise 20. Say how the finance department staff will find out which activities drive the costs arising in each department.
UNIT 3
THE ELEMENTS OF FINANCIAL
STATEMENTS (PART I)
1.Financial Statements.
2.Balance Sheet.
Grammar: Passive Voice.
PHONETIC AND LEXICAL EXERCISES
Exercise 1. Practise the pronunciation of the sounds.
|
|
|
|
sacrifice |
date |
tax |
equal |
time |
basic |
back |
retain |
finally |
statement |
transaction |
service |
financial |
gains |
assets |
expense |
liabilities |
pertain |
plan |
event |
Exercise 2. Read and translate the words with the suffixes of adjectives.
Financial, central, cultural, beneficial, changeable, reaso- nable, payable.
Exercise 3. Form words with the help of the suffixes -al, -able.
Nation, industry, profession, economic, distribute, understand, comfort, profit, read, market.
Exercise 4. Read the words of the active vocabulary.
1)account for – вычислять
2)activities – показатели
3)benefit – выгода
4)cash benefit – денежное вознаграждение
5)cash flow – движение денежной наличности
6)cost – стоимость
7)debt – долг
8)default – прекратить платежи
55
9)event – событие
10)expenses – издержки
11)gain –доход
12)in cash – наличный расчет
13)losses – потери
14)maturity – наступление срока платежа
15)net income – чистый доход
16)obligation – обязательство
17)overheads – накладные расходы
18)payment date – срок платежа
19)revenue – годовой доход
20)sacrifice – убыток (при продаже)
Exercise 5. Arrange the words in pairs of synonyms.
Deal, gain, transaction, profit, expenses, losses, statement, commitment, obligation, report, stockholder, share, shareholder, stock.
Exercise 6. Match equivalents from two columns.
I. |
1) net income |
|
a) финансовый |
|
2) transaction |
|
b) чистый доход |
|
3) gain |
|
c) сделка |
|
4) financial |
|
d) прибыль |
|
|
|
e) акция |
|
|
|
f) дивиденд |
II. |
1) equity |
|
a) убытки |
|
|||
|
2) liabilities |
|
b) капитал |
|
3) losses |
|
c) субъект хозяйствования |
|
4) expenses |
|
d) пассивы |
|
|
|
e) балансовый отчет |
|
|
|
f) издержки |
III. |
1) revenues |
|
a) дата платежа |
|
|||
|
2) stockholder |
|
b) годовой доход |
|
3) payment date |
|
c) организация |
|
4) debt |
|
d) долг |
|
|
|
e) обязательство |
|
|
|
f) акционер |
56
Exercise 7. Choose the correct words from those given in brackets.
Translate the sentences.
1.The elements of (corporate / financial) statements are the building blocks with which financial statements are constructed.
2.(Liabilities / definitions) are one of the basic elements of financial statements.
3.Three essential characteristics are present in the definition of an (аsset / benefit).
4.An (entity / equity) can obtain the future economic benefit from use of the asset.
5.A (profit / dividend) payable in cash is a liability.
6.The declaration of a cash dividend obligates the company to transfer cash to the shareholder (on the maturity date / at a future date).
7.The (liability / obligation) to transfer assets or to provide services must pertain to a particular entity.
8.Company B is unable to pay (cash / debt) at maturity.
Exercise 8. Write out the words relating to the topic “The Elements of Financial Statements”.
Gains, net income, transaction, company, goods, asset, service, pension, plan, revenues, expenses, losses, stockholders liability, dividend, cash dividend, play, station, amount, definition, credit.
Exercise 9. Form words combinations. Translate them into Russian.
1) statements |
a) basic |
2) elements |
b) financial |
3) an asset |
c) benefit |
4) economic |
d) of the company |
5) dividend |
e) liability |
6) potential |
f) cash |
57
Exercise 10. Find the meanings of the verbs in the dictionary.
To assume, to discover, to own, to establish, to adopt, to retire, to obtain, to occur, to provide, to pertain, to incur.
Exercise 11. Give the Russian equivalents of the following words.
Liability, financial statement, assets, gain, revenue, net income, losses, economic resources, expenses, equity.
Exercise 12. Give the English equivalents of the following words.
Активы, прибыль, доход, расход, пассив, акция без фиксированного дивиденда, сделка, годовой доход, долг, наличный расчет, обязательство, акционер, срок платежа.
GRAMMAR EXERCISES
Exercise 1. Read and translate the sentences paying attention to the difference between Active and Passive Voices.
Active |
|
Passive |
1. Every company prepares |
1. A balance sheet is prepared |
|
a balance sheet at least |
by every company at least once |
|
once a year. |
a year. |
|
2. This definition includes |
2. |
Three characteristics of |
three characteristics of |
liabilities are included in this |
|
liabilities. |
definition. |
|
3. Balance sheet included |
3. All elements in the account- |
|
all elements in the account- |
ing |
equation were included |
ing equation. |
into the balance sheet. |
|
4. The company has paid this |
4. This dividend has been paid |
|
dividend in cash. |
by the company in cash. |
|
5. Most corporations will use |
5. New standard cost systems |
|
new standard cost systems |
will be used by most corpora- |
|
next year. |
tions next year. |
|
|
|
|
58
Exercise 2. Make up sentences of your own in the Passive Voice using different tense forms. Use the model and the following combinations.
Model: to show a new exposition of goods to different companies
1.A new exposition of goods is shown to different companies.
2.Different companies have been shown a new exposition of goods.
3.A new exposition of goods will be shown to different companies.
1) to offer maturity to “Brand Ltd”;
2) to issue balance sheet;
3) to promise us to pay debt;
4) to give employees credit;
5) to resume the usual volume of loans;
6) to credit medium and small businesses;
7) to pay salaries to workers.
Exercise 3. Choose the proper English tense form for the Russian sentence.
1.Этот офис строился, когда я вернулся в город.
a)was built;
b)was being built;
c)had been built;
d)was building.
2.Новые офисы строят каждый день.
a)are being built;
b)are built;
c)have been built.
3.Я уверен, что офис построят к Новому году.
a)will be built;
b)is being built;
c)will have been built.
4.Сейчас здесь строится новый офис.
a)is being built;
b)is building;
c)is built.
59
5.Этот офис был уже построен, когда я приехал сюда.
a)has been built;
b)was built;
c)had been built.
6.Много офисов будет построено в следующем месяце.
a)will built;
b)will be built;
c)will have been built.
7.Этот офис построили в этом году.
a)had built;
b)has been built;
c)is built.
8.Этот офис строится уже пять месяцев.
a)has been built;
b)is being built;
c)is built.
Exercise 4. Translate the following micro-dialogues into English using the Passive Voice. Act them out.
Dialogue 1
–Это место занято?
–Боюсь, что да.
Dialogue 2
–Извините, что я опоздал.
–Что случилось?
–Подвел транспорт.
Dialogue 3
–Где сделан этот магнитофон?
–Он сделан в Японии.
–Где продается эта модель?
–Во многих магазинах, которые торгуют радиотоварами.
Exercise 5. Say the same using the Passive Voice.
1.The company will provide these services.
2.The accountant will deduct administrative expenses as expenses on income statement.
60