Financial Management

In the past, financial management was not a major concern for a business. A company used to establish relations with a local bank. The bank handled the financing and the company took care of pro­ducing and selling.

Today only a few firms operate in this way. Usually businesses have their own financial managers who work with the banks. They negotiate terms of financial transactions, compare rates among competing financial institutions. Financial management begins with the creation of a financial plan. The plan includes timing and amount of funds and the inflow and outflow of money.

The financial manager develops and controls the financial plan. He also forecasts the economic conditions, the company's revenues, expenses and profits.

The financial manager's job starts and ends with the compa­ny's objectives. He reviews them and determines the funding they require. The financial manager compares the expenses involved to the expected revenues. It helps him to predict cash flow. The avail­able cash consists of beginning cash plus customer payments and funds from financing.

The financial manager plans a strategy to make the ending cash positive. If cash outflow exceeds cash inflow the company will run out of cash. The solution is to reduce outflows. The financial manager can trim expenses or ask the customers to pay faster.

The financial manager also chooses financing techniques. One of them is short-term financing. Another is long term financing.

XII. Retell each of the texts. Use your logical plan, questions and the list of words while retelling.

XIII. Read «Job Guide» from «Chicago Tribune» and choose a job to apply for. Explain the reasons for your choice. Job Guide

Major Consumer goods organization seeks highly motivated individual for newly created hi-visibility position in social region­al office.

Principal duties include sales forecasting, budgeting financial analysis and administrative duties. Desirable qualifications de­gree, computer literacy, excellent administrative skills and 3-5 years of related prior experience.

Position offers a unique challenge with commensurate awards and opportunities. Please send your resume with salary require­ments in confidence to:

P. O. Box 803883 N 4858

Chicago, 11. 606810

Equal opportunity Employer

M/F/V/H

Book-Keeper

Full charge ook-keeper for full time position. Computer experience necessary. Micnigan, ...location 329-2472

Credit and Finance

A leading semi-trailer manufacturer is seeking an individual with a Bachelor's degree in finance, or equivalent.

The successful candidates will have 2-4 years experience in the industry. Knowledge of credit and collection and demonstrated ability to analyse and evaluate financial statements a must. Some travel involved, strong international skills and analytical abilities are two key factors for success in this position.

Send resume and salary history to:

P. O. Box 803883 N 4858

Chicago, 11. 60680

English in My Life and in My Future Career

When I think¹ about my future² career³ in business I dream⁴ of working my way up to the top⁵ from messenger⁶ to president of the corporation. Nowadays, ⁷ however⁸, education⁹ plays¹⁰ a central role in the selection¹¹ of men and women for management jobs¹². And, of course, it's impossible to make any career in business with­out" good knowledge of foreign language¹⁴. English will be re­quired regularly in my future work. I expect to use¹⁵ English in speaking and listening¹⁶ face to face¹⁷ and in telephone, radio, tele­vision communication. I also expect to use English in reading mag­azines¹⁸, professional journals, reports, newspapers¹⁹ , in reading and writing business letters²⁰. I'll be using English with my col­leagues²¹ and with members²² of community²³ at large²⁴. I need²⁵ English for broadly²⁶ socio-cultural purposes²⁷: to obtain²⁸ infor­mation, to convene²⁹ at multinational gatherings³⁰, to travel.

¹think - думать; считать, по­лагать

²future - будущее

³career - карьера, успех; род деятельности

⁴dream of - мечтать

⁵top - верх

⁶messenger - посыльный, курьер

⁷nowadays - в наше вре­мя, в наши дни

⁸however - как бы ни; од­нако, тем не менее

⁹education - образова­ние, обучение

¹⁰ play - играть

¹¹ selection - выбор, отбор, подбор

¹² job - работа, труд, сдельная работа

¹³ without - без, вне. за

¹⁴ foreign language - иностранный язык

¹⁵ use - употреблять, применять

¹⁶ listen - слушать; слушание

¹⁷ face to face - лицом к лицу

¹⁸ magazine - (периоди­ческий) журнал

¹⁹ newspaper - газета

²⁰ letter - письмо

²¹ colleague - сослуживец, коллега

²² member - член; участ­ник, партнер, представитель

²³ community - мест­ность, населенный пункт; объе­динение, сообщество

²⁴ large - большой

²⁵ need - нуждаться, иметь не­обходимость

²⁶ broadly - широко

²⁷ purpose - цель

²⁸ obtain - получать, приоб­ретать

²⁹ convene - участвовать

³⁰ gather - собирать