Лексические основы чтения спец текста
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I. Information for Study
The Price of Related Goods
2. Выберите существительное, которое может следовать за данным глаголом:
1) to stimulate |
a) demands |
2) to afford |
a) a product |
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b) customs |
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b) an effect |
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c) substitutes |
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c) an advance |
3) to watch |
a) incomes |
4) to shape |
a) substitutes |
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b) films |
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b) consumers |
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c) tastes |
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c) tastes |
5) to encounter |
a) tastes |
6) to shift |
a) a quantity |
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b) definitions |
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b) a price |
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c) health |
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c) a curve |
3. Выберите из приведенного списка термины, соответствующие данным определе- ниям.
a) |
a good for which demand increases when incomes rise |
1. a substitute |
b) |
a good for which demand falls when incomes rise |
2. to afford |
c) |
a thing performing some function instead of another thing |
3. a normal good |
d) |
a thing which cannot be used without the other one |
4. an inferior good |
e) |
personal preference for a particular good |
5. a complement |
f) |
to be able to spend money for something you are willing to buy |
6. taste |
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Английский язык. Лексические основы чтения текстов по экономике
Unit 9
I. Information for Study
Output Supply.
Revenues, Costs, and Profits
Text A
Прочтите следующую информацию и запишите основные термины, связанные с тематикой текста.
A firm’s revenue is the amount it earns by selling goods or services in a given period such as a year. The firm’s costs are the expenses incurred in producing goods or services during the period. Profits are the excess of revenues over costs.
Thus we can write
Profits = revenues − costs |
1) |
Although these ideas are simple, in practice the calculation of revenues, costs, and profits for a large business is complicated. Otherwise we would not need so many accountants. We begin with a simple example.
Rent-a-Person is a firm that hires people whom it then rents out to other firms that need temporary workers. Rent-a-Person charges £10 per hour per worker but pays its workers only £7 per hour. During 1987 it rented 100 000 hours of labour. Business expenses, including leasing an office, buying advertising space, and paying telephone bills, came to £200 000. Figure 5 shows the income statement or profit-and-loss account for 1987. Profits or net income before taxes were £100 000. Taxes to central government (corporation tax) plus taxes to local government (rates assessed on some of the property the firm owned) came to £25 000. Rent-a-Person’s after-tax profits in 1987 were £75 000.
Now we can discuss some of the complications in calculating profits.
Оutstanding Bills
People do not always pay their bills immediately. At the end of 1987, Rent-a-Person has not been paid for all the workers it hired out during the year. On the other hand, it hasn’t paid its telephone bill for December. From an economic viewpoint, the right definition of revenues and costs relates to the activities carried out during the year whether or not payments have yet been made.
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Figure 5. Rent-a-person income statement for the year ending 31 december 1987.
I. Information for Study
Output supply. Revenues, Costs, and Profits
Revenue |
£ |
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£ 1 000 000 |
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(100 000 hours rented out at |
10 per hour) |
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Deduct expenses (costs) |
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£ |
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Wages paid to people rented out |
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700 000 |
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Advertising |
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50 000 |
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Office rent |
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50 000 |
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Wages for office workers |
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80 000 |
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Other office expenses |
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20 000 |
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Net income (profits) before taxes |
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900 000 |
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£ |
100 000 |
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Taxes paid |
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25 000 |
Net income (profits) after taxes |
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£ 75 000 |
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This distinction between economic revenues and costs and actual receipts and payments raises the important concept of cash flow.
A firm’s cash flow is the net amount of money actually received during the period. Profitable firms may still have a poor cash flow, for example when customers are slow to
pay their bills.
Part of the problem of running a business is that cash flow at the beginning is bound to be slow. Set up costs must be incurred before revenues start to flow in. That is why firms need financial capital to start the business. If the business prospers, revenues will build up and eventually there will be a healthy cash inflow.
Сapital and Depreciation
Physical capital is the machinery, equipment, and buildings used in production. Rent-a-Person owns little physical capital. Instead, it rents office space, typewriters, and
desks. In practice, businesses frequently buy physical capital. Economists use ‘capital’ to denote goods not entirely used up in the production process during the period. Buildings and lorries are capital because they can be used again in the next year. Electricity is not a capital good because it is used up entirely during the period. Economists also use the terms ‘durable goods’ or ‘physical assets’ to describe capital goods.
How should the cost of a capital good such as typewriters be treated in calculating profits and costs? The essential idea is that it is the cost of using rather than buying a piece of capital equipment that should be treated as part of the firm’s costs within the year. If Rent-a-Person leases all its capital equipment, its costs include merely the rentals paid in leasing capital goods.
Suppose however that Rent-a-Person buys eight typewriters at the beginning of the year for £1000 each. It should not count £8000 as the cost of typewriters in calculating costs and profits for that year. Rather the cost should be calculated as the reduction in the value of the typewriters over the year. Suppose the wear-and-tear on the typewriters over the year has reduced their value from £1000 to £700 each. The economic cost of the use of eight typewriters over the year is £2400 (8 × £300). This amount of depreciation is the cost during the year.
Depreciation is the loss in value resulting from the use of machinery during the period. The cost during the period of using a capital good is the depreciation or loss of value of
that good, not its purchase price.
The existence of depreciation again leads to a difference between economic profits and cash flow. When a capital good is first purchased there is a large cash outflow, much larger than the depreciation cost of using the good during the first year. Profits can be high but cash flow low. However, in subsequent years the firm makes no further cash outlay, having already paid for the capital goods, but must still calculate depreciation as an economic cost since the resale value of goods is reduced still further. Cash flow will now be higher than economic profit.
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Английский язык. Лексические основы чтения текстов по экономике
The consequence of treating depreciation rather than purchase price as the true economic cost is thus to spread the initial cost over the life of the capital good; but that is not the reason for undertaking the calculation in this way. Rent-a-Person could always have sold its typewriters for £5600 after one year, restricting its costs to £2400. The fact that the firm chose to keep them for reuse in the next year indicates that the latter strategy is even more profitable. Hence the true economic cost of using the typewriters in the first year can be at most £2400.
II. Exercises
1.Переведите текст на русский язык, используя словарь в конце урока.
2.Найдите в тексте ответы на поставленные вопросы и запишите их.
1)What is a firm’s revenue?
2)What are the firm’s costs?
3)What are the firm’s profits?
4)How can you calculate profits?
5)What is the difference between economic revenues and costs and actual receipts and payments?
6)When may profitable firms have a poor cash flow?
7)Why do firms need financial capital to start a business?
8)What goods are included into physical capital?
9)How should the cost of a capital good be treated in calculating profits and costs?
10)What is depreciation?
11)When is the firm’s cash flow higher than economic profit?
12)What is the best way of calculating the true economic cost of a capital good?
3.К выделенным жирным шрифтом словам в тексте подберите слова, противопо- ложные по значению, из следующего списка:
revenue, receipts, to hire, constant, outlay, consequence, previous, to incur expenses, to extend
4. Найдите в тексте предложения, соответствующие по смыслу данным ниже, и за- пишите их в тетрадь.
1)Износ − это снижение стоимости основного фонда в результате его использования
вданный период времени.
2)Основной капитал − это оборудование, не полностью использованное в производ- ственном процессе за данный период времени.
3)При закупке основного капитала требуется большой расход наличности.
4)При подсчете прибылей и убытков учитывается фактическая деятельность фирмы
втечение целого года, а не выплата и поступление наличных денег.
5)При ведении дела поток наличности вначале бывает незначительным.
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I. Information for Study
Output supply. Revenues, Costs, and Profits
6)Для того, чтобы начать дело, фирме нужен финансовый капитал, так как предсто- ят учредительские расходы.
7)После подсчета чистого дохода необходимо вычесть налоги, которые фирма пла- тит государству.
8)Расходы предпринимателей включают арендную плату за помещение, покупку места для рекламы, оплатусчетов за телефонныепереговорыизарплату служащих.
5. Образуйте существительные от данных глаголов. Проверьте их по тексту. Переве- дите их.
to exist, to complicate, to pay, to rent, to restrict, to equip, to advertise, to depreciate, to indicate, to treat
6. Образуйте наречия от данных прилагательных. Переведите их.
simple, entire, temporary, immediate, actual, slow, financial, healthy, eventual, initial, subsequent.
7.Изложите краткое содержание текста А на английском языке в письменном виде.
8.Прочтите список ключевых слов к тексту В:
income statement |
-- |
баланс, балансовый отчет |
proceed |
-- |
продолжать |
flow of money |
-- |
денежный поток |
trading operations |
-- |
коммерческие операции |
balance sheet |
-- |
баланс, балансовый отчет |
to list |
-- |
перечислять |
assets |
-- |
активы |
liabilities |
-- |
пассивы, обязательства |
to go through |
-- |
тщательно разобрать |
on the left |
-- |
слева |
cash |
-- |
наличность |
to owe |
-- |
быть должным |
customer |
-- |
клиент |
accounts receivable |
-- |
счета дебиторов, дебиторская задолженность |
inventories |
-- |
товарные запасы |
warehouse |
-- |
склад |
originally |
-- |
первоначально |
to be worth |
-- |
стоить |
to add up |
-- |
складывать |
on the right |
-- |
справа |
accounts payable |
-- |
счета кредиторов, кредиторская задолженность |
salary |
-- |
заработная плата |
mortgage |
-- |
закладная |
to negotiate |
-- |
совершать сделку |
insurance company |
-- |
страховая компания |
bank loan |
-- |
банковская ссуда |
shorter-term |
-- |
краткосрочный |
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Английский язык. Лексические основы чтения текстов по экономике
cash needs |
-- |
потребность в наличных деньгах |
debt |
-- |
долг |
net worth |
-- |
собственный капитал (предприятия) |
excess |
-- |
избыток |
to wonder |
-- |
интересоваться |
shareholder |
-- |
акционер |
take-over bid |
-- |
предложение о покупке контрольного пакета |
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акций компании |
prospects |
-- |
перспективы |
growth |
-- |
рост |
proven record |
-- |
проверенная репутация |
to bid |
-- |
предлагать цену |
going concern |
-- |
функционирующее предприятие |
customer loyalty |
-- |
приверженность клиентуры |
intangibles |
-- |
нематериальные активы |
goodwill |
-- |
“цена” нематериальных активов фирмы, репутация |
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фирмы |
9.Прослушайте и постарайтесь понять текст В.
10.Напишите краткое изложение текста на русском языке.
11.Прочтите утверждения и выберитете, которыесоответствуютсодержанию текста Вх):
1)The income statement shows the flow of money during a given year.
2)The balance sheet lists the assets the firm owns and its liabilities.
3)The balance sheet gives us a picture of the firm during the whole time of its existence.
4)‘Net worth’ of the firm is the excess of its assets over its liabilities.
5)Assets are what the firm owes and liabilities are what the firm owns.
6)Making a take-over bid you are buying not only the firm’s assets but also its goodwill.
III. Vocabulary to Text A
account |
-- |
счет |
accountant |
-- |
бухгалтер |
actual |
-- |
фактический |
advertising |
-- |
реклама |
advertising space |
-- |
место для рекламы |
after-tax profit |
-- прибыль за вычетом налогов |
|
to assess |
-- |
облагать налогом |
bound |
-- |
обязательный |
to build up |
-- |
накапливать |
business expenses |
-- |
расходы предпринимателей |
х) Проверьте Ваши ответы: 1), 2), 4), 6).
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I. Information for Study |
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Output supply. Revenues, Costs, and Profits |
capital goods |
-- |
недвижимое имущество компании, |
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товары длительного пользования |
cash flow |
-- |
приток наличности |
cash inflow |
-- |
поступление наличности |
cash outflow |
-- |
расход наличности |
to come (to) |
-- |
составлять, равняться |
complication |
-- |
осложнение, затруднение |
consequence |
-- |
следствие |
corporation tax |
-- налог на прибыль компании |
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to denote |
-- |
обозначать |
depreciation |
-- |
износ |
durable goods |
-- |
товары длительного пользования |
entirely |
-- |
полностью |
equipment |
-- |
оборудование |
existence |
-- |
существование |
expenses |
-- |
расходы |
to flow in |
-- |
поступать (о наличности) |
to hire |
-- |
нанимать |
immediately |
-- |
немедленно |
income statement |
-- |
балансовый отчет |
to incur |
-- |
нести расходы |
initial cost |
-- |
начальная стоимость |
to lease |
-- сдавать или брать в аренду |
|
lorry |
-- |
грузовик |
loss of value |
-- |
снижение стоимости |
merely |
-- |
просто |
net amount |
-- |
сумма нетто |
net income |
-- |
чистый доход |
output supply |
-- |
предложение продукции |
outstanding bills |
-- |
неоплаченные счета |
payment |
-- |
платеж |
physical assets |
-- |
основные фонды, недвижимое имущество |
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компании |
physical capital |
-- |
основной капитал, недвижимое имущество |
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компании |
production process |
-- |
производственный процесс |
profit-and-loss |
-- |
балансовый отчет |
account |
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to prosper |
-- |
процветать |
purchase price |
-- |
покупная цена |
rates |
-- |
местные налоги |
receipt |
-- |
выручка |
reduction |
-- |
снижение |
to rent |
-- |
арендовать |
to rent out |
-- |
сдавать в аренду |
rental |
-- |
арендная плата |
resale |
-- |
перепродажа |
set-up costs |
-- |
учредительские расходы |
to spread |
-- |
распространять |
subsequent |
-- |
последующий |
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Английский язык. Лексические основы чтения текстов по экономике
temporary |
-- |
временный |
to undertake |
– |
предпринимать |
value |
– |
стоимость |
viewpoint |
– |
точка зрения |
wear-and-tear |
– |
износ |
IV. Test
1. Выберите из колонки справа по смыслу слова, пропущенные в предложениях.
1)The firm’s costs are the ... incurred in producing goods or servic- a) cash flow
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es. |
b) |
liability |
2) |
Set up costs must be ... before revenues start to flow in. |
c) |
depreciation |
3) |
The ... shows a flow of money during a given year. |
d) expenses |
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4) |
Profitable firms have a poor ... when customers do not pay their |
e) |
assets |
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bills immediately. |
f) |
income state- |
5) |
If the business ... revenues will eventually build up. |
ment |
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6) |
The net worth is a ... of firm to its shareholders. |
g) equipment |
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7) |
The word ‘capital’ denotes goods not entirely ... in the production |
h) incurred |
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process during the period. |
i) |
prospers |
8)The cost during the period of using a capital good is the ... or loss j) used up of value of that good.
2.Выберите существительные, которые по смыслу могут следовать за данными гла- голами:
1) to incur |
a) incomes |
2) to hire |
a) workers |
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b) assets |
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b) payments |
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c) expenses |
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c)goods |
3) to assess |
a) bills |
4) to restrict |
a) costs |
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b) rates |
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b) effects |
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c) nets |
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c) reasons |
5) to build up |
a) activities |
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b) flows |
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c)revenues
3.Выберите из приведенного списка термины, соответствующие данным определе-
ниям.
a) excess of revenues over costs |
1. |
rental |
b) the amount a firm earns by selling goods or services in a given |
2. |
profits |
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I. Information for Study
Output supply. Revenues, Costs, and Profits
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period |
3. |
revenue |
c) |
the expenses incurred in producing goods or services during a |
4. |
cash flow |
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period |
5. |
costs |
d) the net amount of money actually received during the period |
6. |
physical capital |
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e) |
goods not entirely used up in the production process |
7. |
depreciation |
f) |
the loss in value resulting from the use of a capital good during |
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the period |
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g) payment for hiring a good or а service |
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Английский язык. Лексические основы чтения текстов по экономике
Unit 10
I. Information for study
Decision Making in Business
Text A
Прочитайте следующую информацию и запишите основные термины, связанные с тематикой текста.
Businesses are DECISION MAKING units. The decisions that they make might include:
what to produce;
where to locate the premises;
what method of production to use;
what price should be charged;
what wages should be paid; and many others.
Why do businesses make decisions? In each case above there are a number of choices a firm may make. For example, the choice might be to locate a new warehouse in Exeter, Plymouth or Torquay. This is an example of a strategic decision because it can affect the profitability and survival of the business. Many of the day-to-day decisions taken by business are called tactical decisions. An example might be when and how much stock to order or the setting of sales targets. These short term control decisions are often repeated on a regular basis. A business may also make longer term control decisions, such as planning to employ extra workers in future to take changes in the economy into account.
Decisions made by firms often involve some risk. Strategic decisions are likely to involve the most risk. For example, the decision to sell a new product in a foreign country involves great risk as there are many factors that can affect its success.
Owners, managers and employees are involved in business activity. They will all make some decisions, although not of equal importance. Major decisions, such as the location of a new plant, will be maid by the owners. Less important decisions, such as the amount of time spent waiting for a delivery before making an enquiry, are likely to be maid by employees.
The size of the business can affect who makes decisions. In a small firm the owner will make most of the decisions because he or she is the person in control. Some decisions might be delegated if the owner trusts the employees. As a small firm expands, the owner might employ a manager to help run the business and take some responsibility for decision making. In very large businesses decisions are made at many different levels, by different people.
Decisions are often classified into three types.
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