V. Match the halves of the phrases from the text.

1.profits are at	a) advertisements
2.saturated with	b) brand recognition
3.come out	c) a market test
4.tailor	d) of the company's advertising budget
5.adapt them to	e) market's particular needs
6.in terms of	f) the use
7.under the retailer's	g) competing products
8.carry out	h) to the needs
9.collected through	i) own name
10.quick to respond	j) research and development projects
11.the outcome of	k) their maximum

VI. Find Russian equivalents to the following phrases in the second column.

a)насыщенный товаром конкурентов b)являться результатом бюджета компании на рекламу c)под именем розничного продавца d)выражено в опознании торговой марки e)приспосабливаться к привередливости рынка f)доходы максимальные g)результат научно-технических разработок h)проводить рыночное тестирование i)собирать посредством использования j)быстро реагирующий на потребности k)приспосабливать рекламы

6. Make an outline of the text consisting of 5-8 sentences.

6. Retell the text according to its outline.

X. Sales

1. Go through the following vocabulary notes to avoid difficulties in understanding and find these words in the text.

target	план; задание, цель	distribution network	распределительная сеть
Sales forecast	прогноз сбыта	warehouse	товарный склад
essential	существенный	stocks	ассортимент (товаров)
sales turnover	товарооборот	lead time	время реализации товара
retail outlets	розничная торговая точка	intermediary	посредник
cold calls	холодное прозванивание (посещение)	checkout	1.контрольно-кассовый аппарат 2. подсчет стоимости (сделанных покупок)
bar code	штрих-код	store’s takings	сбор (кассовый)

2. Read the statements and decide whether they are true (T) or false (F).

1. When you sell your goods or services you receive sales revenue.

2. To start selling something your primary task should be to find a customer.

3. It’s also important for the sales force to know in detail how many products they have sold.

4. The distributor makes the product available to the customers through various retail outlets.

5. It’s very important from the financial point of view to keep stocks high.

6. There are various selling techniques including the use of direct mail, personal selling, cold calls and catalogues.

3. Read the text and check up your answers in ex. II.

Well, the sales of a product are the quantity of it that is sold. When you sell your goods or services you receive sales revenue or the money from selling goods or services.

To start selling something your primary task should be to set a target, or to know what you want to achieve from sales. And of course you must be aware of your sales territory, or area, where you are going to do business. Sales forecast is also essential because you have to know how many goods or services can be sold.

It’s also important for the sales force to know in detail how many products they have sold, and how much money they have made. Many companies produce sales figures at the end of each month, which show the unit sales or the number of goods sold, and the sales revenue or the sales turnover, or the money resulting from the sales. The salespeople then know whether they have met their sales target.

One of the most important factors in selling is distribution or the process of supplying and delivering goods to customers. The distributor makes the product available to the customers through various retail outlets. Products may be distributed directly to retailers, or through a distribution network to wholesalers who store the good in a warehouse. Some businesses use an agent to bring buyers and sellers together; some products may be sold directly to the consumer. For instance, a factory may have a factory shop where the good are sold directly to the public.

Most manufacturing companies have a warehouse full of components. These parts are known as stocks. It’s very important from the financial point of view to keep stocks low, that’s why the manufacturers ask the suppliers to deliver components just when they need them. This shortens lead time, or the time it takes to make and deliver goods.

There are also some sales methods that need to be mentioned. When sales are made without any intermediaries, this is known as direct selling. It means the consumers may buy their products from their own home – for example, online shopping. It’s very convenient both for the consumers and the companies they buy goods at. There are various selling techniques including the use of direct mail, personal selling, cold calls and catalogues.

When we talk about retailing it’s worth mentioning the names of the most common points of sale. They are retail outlets, retail parks, shopping centres, department stores, supermarkets, etc.

At the end I’d like to describe one of the processes of buying good at the supermarket. When you pay for your goods at the supermarket checkout they are passed over a laser, which reads the bar code on the packaging. The sale of each item is recorded on the computerized checkout system and the system automatically subtracts the items from total stock levels. The system can be used to check stock levels and the store’s takings at any time of the day.

4. Answer these questions using the active vocabulary of the text.

1. What do you receive when you sell your goods or services?

2. What tasks should you put to start selling anything?

3. Why are sales figures important for business?

4. What is distribution?

5. What are the ways of distribution?

6. Why is important to keep stocks low in warehouses?

7. What are sales methods and selling techniques?

8. Describe one of the processes of buying good at the supermarket.

5. Match the halves of the phrases from the text.

1.shorten	a)a laser
2.pay for	b)the packaging
3.pass smth. over	c)lead time
4.the bar code on	d)total stock levels
5.subtract the items from	e)full of components
6.recorded on the computerized	f)your goods
7.a warehouse	g)checkout system
8.distributed through	h)your sales territory
9.deliver goods to	i)a distribution network
10.be aware of	j)customers

6. Find Russian equivalents to the phrases in ex.V.

a)вычитать товары из общего уровня запасов	f)поставлять товары потребителям
b)записано на компьютеризированном кассовом аппарате	g)заплатить за товары
c)сократить время реализации товара	h)склад заполненный товарами
d)распространяется через распределительная сеть	i)знать территорию сбыта
e)штрих-код на упаковке	j)проводить что-то по лазеру

7. Make an outline of the text consisting of 5-8 sentences.

8. Retell the text according to its outline.

9. Financing and accounting in a company

1. Go through the following vocabulary notes to avoid difficulties in understanding and find these words in the text.

shareholders	акционер	turnover	товарооборот
annual	ежегодный	excess	избыток
account	отчет	assets	актив (баланса) 2) средства
revenue	доход	retain	удерживать
expenditure	издержки	losses	убыток
liabilities	обязательства, пассивы	debtor	должник
liquidity	ликвидность	loan	заем, ссуда
insolvent	неплатежеспособный	issuing	выпуск
mortgage	заклад; ипотека	owe	быть должным

2. Read the statements and decide whether they are true (T) or false (F).

6. Total sales are the amount of business done by the company during the year.

7. Companies are required by honour to give their shareholders and Tax Authorities certain financial information.

8. The flow of cash in and out of the business is important for owners to expand their business.

9. The more you sell, the more cash you need.

10. The business considered insolvent does not have enough cash to pay short-term expenses.

11. A business's assets consist of its cash investments and property (buildings, machines, and so on.

3. Read the text and check up your answers in ex. II.

Companies are required by law to give their shareholders and Tax Authorities certain financial information. Most companies include three financial statements in their annual reports. The profit and loss account shows revenue and expenditure. It gives figures for total sales or turnover (the amount of business done by the company during the year), and for costs and overheads. The first figure should be greater than the second: there should generally be a profit - an excess of income over expenditure. Part of the profit is paid to the government in taxation, part is usually distributed to shareholders as a dividend, and part is retained by the company to finance further growth, to repay debts, to allow for future losses, and so on.

The balance sheet shows the financial situation of the company on a particular date, generally the last day of its financial year. It lists the company's assets, its liabilities, and shareholders' funds. A business's assets consist of its cash investments and property (buildings, machines, and so on), and debtors - amounts of money owed by customers for goods or services purchased on credit. Liabilities consist of all the money that a company will have to pay to someone else, such as taxes, debts, interest and mortgage payments, as well as money owed to suppliers for purchases made on credit, which are grouped together on the balance sheet as creditors.

A third financial statement has several names: the source and application of funds statement, the sources and uses of funds statement, the funds flow statement, the cash flow statement, the movements of funds statement, or in the USA the statement of changes in financial position. As all these alternative names suggest, this statement shows the flow of cash in and out of the business between balance sheet dates. Sources of funds include trading profits, depreciation provisions, borrowing, the sale of assets, and the issuing of shares. Applications of funds include the purchase of fixed or financial assets, the payment of dividends and the repayment of loans, and, in a bad year, trading losses.

Cash flow is essentially a company's ability to earn cash. It is the amount of cash made during a specified period that a business can use for investment. (More technically, it is net profit plus depreciation plus variations in reserves. The flow of funds is cash received and payments made by a company during a specific period - except that many people also use the term cash flow to describe this. New companies generally begin with adequate funds or working capital for the introductory stage during which they make contacts, find customers and build up sales and a reputation. But when sales begin to rise, companies often ran out of working capital: their cash is all tied up in work-in-progress, stocks and credit to customers. It is an unfortunate fact of business life that while supplies tend to demand quick payment, customers usually insist on extended credit, so the more you sell, the more cash you need. This provokes a typical liquidity crisis: the business does not have enough cash to pay short-term expenses. A positive cash flow will only reappear when sales growth slows down and the company stops "overtrading". But companies that have not arranged sufficient credit will not get this far: they will find themselves insolvent- unable to meet their liabilities.

4. Answer these questions using the active vocabulary of the text.

1. How many financial statements do most companies include in their annual reports?

2. What does the profit and loss account show?

3. What document lists the company's assets, its liabilities, and shareholders' funds?

4. What are assets?

5. What do liabilities consist of?

6. What are the names of a third financial statement?

7. What does this statement show?

8. What do sources of funds include?

9. What do applications of funds include?

10. Why is cash flow important for a business?

11. How can you describe the introductory stage?

12. What happens when sales begin to rise?

13. What is a typical liquidity crisis?

14. What happens to companies when they are unable to meet their liabilities?

5. Match the halves of the phrases from the text.

1.to repay	a) funds
2.The balance	b) statement
3.company's	c) of funds
4.shareholders'	d) debts
5.cash	e) payments
6.purchase	f) of shares
7.mortgage	h) sheet
8.funds flow	i) of loans
9.Sources	j) investments
10.the issuing	k) profit
11.depreciation	l) assets
12.trading	m) of dividends
13.payment	n) on credit
14.repayment	o) profits
15.net	p) provisions

6. Find Russian equivalents to the phrases in ex. V.

1)денежные инвестиции	8)возвращать долги
2)фонды акционеров	9)торговая или производственная прибыль
3)выплаты по закладной	10)выпуск акций
4)бухгалтерский баланс	11)амортизация капитала
5)источники капитала	12)погашение займа
6)активы компании	13)отчет о движении денежных средств,
7)покупать в кредит	14)чистый доход
	15)выплата дивидендов

7. Find English equivalents to the following phrases in the text.

a) удовлетворить обязательства

b) достаточный кредит

c) затоваривание

d) краткосрочные расходы

e) кризис ликвидности

f) пролонгированный кредит

g) незавершенное производство, частично выполненная работа

h) оборотный капитал

8. Make an outline of the text consisting of 5-8 sentences.

9. Retell the text according to its outline.

Reference Literature

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