- •Unit 1. Why finance
- •5. Arrange and run a conversation on the following text:
- •Unit 2. Acquisition of capital
- •2. Read, translate and retell the text:
- •3. Look at the term in the left-hand column and find the correct synonyms or definitions in the right-hand column:
- •Unit 3. Money
- •2. Read, translate and retell the text:
- •3. Give English equivalents of the following:
- •2. Read, translate and retell the text.
- •3. Answer the following questions:
- •4. Match the following words and phrases in a meaningful way:
- •5. Discussion Points:
- •6. Read, translate and retell the text.
- •7. Fill each blank in the text with the correct word or phrase. Choose from the following list. Use each item once only.
- •8. Answer the following questions:
- •Unit 5. Exchanges
- •2. Read, translate and retell the text.
- •3. Give the Ukrainian equivalents of the following words and word combinations:
- •3. Arrange the words in pairs of synonyms:
- •5. Answer the following questions:
- •Unit 6. Accounting and bookkeeping
- •1. Read and memorize the following words and word combinations:
- •2. Read, translate and retell the text.
- •3. Translate into Ukrainian:
- •4. Find the English equivalents:
- •5. Answer the following questions:
- •Unit 7. Auditing
- •1. Read and memorize the following words and word combinations:
- •2. Read, translate and retell the text.
- •3. Find the following English equivalents in the text,translate sentences containing them into Ukrainian:
- •8. You are given below a list of financial one-word-terms. List all terms-phrases you can associate with them:
- •Unit 8. Taxes and Taxation
- •1. Read and memorize the following words and word combinations:
- •2. Read, translate and retell the text.
- •3. Say what you have learnt about:
- •4. Retell the text and then give your points of view on such problem questions as:
- •5. Discuss the following statements:
- •6. Indicate whether each of the following statements is true or false:
- •Unit 9. The basis of financial management
- •1. Read and memorize the following words and word combinations:
- •2. Read translate and retell the text
- •3. Translate into Ukrainian
- •4. Find the English equivalents:
- •5. Fill in the blank:
- •6. Answer the following questions:
- •Unit 10. Outside sources of financing
- •1. Read and memorize the following words and word combinations:
- •2. Read, translate and retell the text:
- •3. Translate into Ukrainian:
- •4. Find the English equivalents:
- •5. Fill in the blanks:
- •6. Answer the following questions:
- •Unit 11. Sources of unsecured financing
- •1. Read and memorize the following words and word combinations:
- •2. Read, translate and retell the text:
- •3. Translate into Ukrainian:
- •4. Find the English equivalents:
- •3. Give English equivalents of the following:
- •4. Define the terms:
- •5. Answer the following questions:
- •Unit 13. How to Buy Bonds and Stocks
- •2. Read, translate and retell the text:
- •3. Look at the term in the left-hand column and find the correct definitions in the right-hand column:
- •4. Find the English equivalents.
- •Unit 14. The language of stock
- •1. Read and memorize the following words and word combinations:
- •2. Read, translate and retell the text:
- •3. Find the English equivalents.
- •4. Answer the questions:
- •5. Look at the term in the left-hand column and find the correct definitions in the right-hand column:
- •Unit 15 International Finance
- •1. Read and memorize the following words and word combinations:
- •2. Read, translate and retell the text:
- •3. Questions for discussion:
- •4. Speak on the topics:
- •Texts for Additional Reading
- •1. The Bank of England
- •2. The Federal Reserve System
- •3. The Banking System of Ukraine
- •4. Financial Institutions
- •5. Bank Organization
- •6. Money and Currency
- •7. Bank Accounts
- •8. Bank Services
- •9. Bank Loans
- •10. International Bank Settlement System and Methods of Payment
- •11. Financial Statements at a Bank
- •12. Introduction to Corporate Finance
- •13. What Is Corporate Finance?
- •14. The Financial Manager
- •Figure 1. A simplified organizational chart. The exact titles and organization differ from company to company
- •20. A Corporation by Another Name...
- •21. The goal of financial management
- •22. The Goal of Financial Management
- •23. A More General Goal
- •26. Management Goals
3. The Banking System of Ukraine
The banking system of Ukraine dates to March 1991 when the Ukrainian Parliament adopted the law 'On Banks and Banking Activities'. According to the Law the system consists of two levels, the National Bank and commercialbanks.
The National Bank of Ukraine is the central financial body of the state conducting a uniform national monetary, credit and currency policy. Its aim is to strengthen the national currency, set up interbank settlement system, and coordinate and supervise the whole banking system.
Commercial banks varying in type and ownership are set up by legal entities and private persons as joint-stock companies. At present there are about 230 commercial banks in Ukraine. Two banks are state-owned (the SavingsBank and the Ukrainian Export-Import Bank), 41 banks are limited liability partnerships, 51 banks are closed joint-stock companies and the rest are open joint-stock companies. Their main functions include granting loans to businesses and individuals (backed by collateral), cash transfers and payment services, currency exchange, and other banking transactions. The banking sector of Ukraine has correspondent accounts in 193 foreign banks, (dates to 2000-01). Simultaneously, 91 non-resident banks operate around 1,600 correspondent accounts in Ukraine's banks. This supports the settlement of import-export operations.
There has been taken place the transition of our banking system to international accounting and reporting standards since January,1 998.
There was founded the Ukrainian Interbank Currency Exchange which trades efficiently Ukrainian and foreign currencies and prevents significant fluctuations in the international value of the hryvnia (UAH).
Ukraine's banking strategy is to promote and stimulate commercial banks to solve economic and social problems in the country.
4. Financial Institutions
There are different types of financial institutions. They are mostly the same in all countries and act as financial intermediaries between savers andborrowers and present a payment mechanism.
At the centre of the financial structure of any country is its central bank (in Ukraine it is the National bank of Ukraine, in the USA - the Federal Reserve System, in Great Britain - the Bank of England). The main function of a central bank is to accept responsibility for advising the Government to make the country's financial policy, issue national currency, regulate money supply and supervise other financial institutions such as commercial and savings banks and non-bank financial institutions.
The Ukrainian banking system consists of 2 levels: central bank (the National Bank of Ukraine), commercial banks and the State Savings bank.
Commercial banks receive deposits from their customers and give different loans and other financial services to businesses and individuals (such as, checking and savings accounts, ATM's*, credit cards, traveller's checks, and others), finance industry and commerce, sell and exchange foreign currencies, invest great amounts of money for the price known as interest rate.
The American banking system consists of the Federal Reserve System as the central bank of the country and four types of commercial banks: commercial banks, savings and loan associations (home mortgages), mutual savings banks and Credit Unions.
Non-bank financial institutions are the same in all countries. They do not accept customer deposits, but they do offer many of the same services as regular banks. In business world there are 4 main types of non-bank financial institutions: Life-insurance companies, Credit unions, Pension funds, brokerage firms, commercial / consumer financial companies. All of themusing their own or customers' funds make secured loans for business purposes charging high interest rate, invest money into conservative securities (bonds) or speculate securities (stocks and bonds) at the Exchange.