- •Анотація
- •Передмова
- •Investments in ukraine
- •I. Reading
- •Read and translate the text:
- •Investments in ukraine
- •Vocabulary list
- •II. Vocabulary exercises
- •III. Oral practice
- •Dialogue
- •1. Read the dialogue and act it out:
- •2. Read the dialogue, translate the Ukrainian remarks into English and act it out:
- •А) Read the text and name the facts from the text which are new to you.
- •Read the text and say what you know about the foreign investment in Ukraine: іnvestments in ukraine
- •Unit 2 foreign investment
- •I. Reading
- •1. Read and translate the text: Foreign investment in Ukraine
- •Vocabulary list
- •II. Vocabulary exercises
- •III. Oral practice
- •Dialogue
- •1. Read the dialogue and act it out:
- •2. Read the dialogue, translate the Ukrainian remarks into English and act it out:
- •2. Make up a dialogue on the following:
- •Communicative situations
- •A) Supply the prepositions where necessary.
- •А) Read the text and name the facts from the text which are new to you.
- •Investment legislation
- •Read the text and say what you know about the foreign investment in Ukraine:
- •Investment Registration Procedure
- •Unit 3 licensing
- •I. Reading
- •1. Read and translate the text: Licensing Principles
- •Vocabulary list
- •II. Vocabulary exercises
- •III. Oral practice
- •Dialogue
- •1. Read the dialogue and act it out:
- •2. Read the dialogue, translate the Ukrainian remarks into English and act it out:
- •Make up a dialogue on the following:
- •1. Round-table discussion. The question on the agenda is “Licensing principles in Ukraine”. Open such questions:
- •2. Say what you think about supervision over the licenses process.
- •A) Supply the prepositions where necessary.
- •А) Read the text and name the facts from the text which are new to you.
- •Licensing of Intellectual Property Rights
- •Read the text and say what you know about licenses: Licenses and the Law
- •Unit 4 franchising
- •I. Reading
- •1. Read and translate the text: Franchising
- •Vocabulary list
- •II. Vocabulary exercises
- •III. Oral practice
- •Read the dialogue and act it out:
- •Read the dialogue, translate the Ukrainian remarks into English and act it out:
- •3. Make up a dialogue on the following:
- •A) Supply the prepositions where necessary.
- •А) Read the text and name the facts from the text which are new to you.
- •International management
- •I. Reading
- •1. Read the text:
- •International management
- •Vocabulary list
- •II. Vocabulary exercises
- •1. Study the following definitions. Make sure you understand them and can reproduce from memory:
- •2. Mach the words with their definitions:
- •Complete the following sentences with the words from the box. There are three extra words that you do not need
- •4. Find English equivalents to the following Ukrainian phrases:
- •5. Find words in the text that are synonyms to the following:
- •7. Read the text carefully and decide whether these statements are true or false. Reason it out. Make use of the following phrases:
- •8. Explain the meaning of the following phrases:
- •9. Translate into English:
- •10. Write several paragraphs on the topics suggested using the vocabulary. Make use of the following expressions:
- •11. Answer the following questions:
- •III. Oral practice
- •1. Imagine you are socializing with a specialist in the field of the international management. Put the next questions. Listen to his answers and try to analyze your own options. Work in pairs.
- •2. Imagine you have come to a local company that is doing business on an international level. Interview them about the opportunities and problems. Work in pairs.
- •1. A) Read and translate the following text.
- •The emergence of the global economy
- •2. Write down a brief phrase or single word to mean the same as each of the following words.
- •3. Read the text carefully and decide whether these statements are true or false. Reason it out.
- •4. A) Read and translate the text.
- •Business ethics
- •5. A) Read the text and make a complex plan of it. Multinational corporations
- •Unit 6 risk management
- •1. Read the text: risk management
- •Vocabulary list
- •II. Vocabulary exercises
- •1. Mach the words with their definitions:
- •3. Fill in the blanks:
- •4. Complete the following sentences:
- •5. Find English equivalents to the following Ukrainian phrases:
- •6. Working with a partner, fill in the other forms of the words in the chart:
- •7. Find words in the text opposite in meaning to the following:
- •8. Translate into English:
- •10. Answer the following questions:
- •III. Oral practice
- •2. Prepare a short talk on the following:
- •1. A) Read the text carefully. Fill in the blanks with the prepositions where necessary.
- •Business risk
- •Vocabulary
- •3. Write several paragraphs on the topics suggested using the vocabulary. Make use of the following expressions:
- •1. A) Read the text carefully.
- •Credit risk
- •2. Read the text carefully once more and decide whether these statements are true or false. Reason it out. Make use of the following phrases:
- •1. Read the text. Say whether the statements following the text are the true (t) or false (f). Risk analysis
- •1. Read and translate the dialogue in pairs where the characters make comments about the particular situation. Note down the expressions in Italics. Be ready to use them in your own dialogues.
- •2. Read the dialogue, translate the Ukrainian remarks into English and act it out:
- •3.Working in a small group, discuss the following statements, paraphrase them and comment on them. What do they mean? How do you feel about them?
- •I. Reading
- •1. Practice the pronunciation of the following words:
- •2. Read and translate the text: leasing. Types of leases
- •Vocabularry list
- •1. Read the dialog and sum up the content: leasing in ukraine
- •Vocabulary list
- •2. Read the dialogue, translate the Ukrainian remarks into English and act it out:
- •3. Make up a dialog on the following:
- •Communicative situations
- •Prepare a short talk on the following:
- •IV. Read and discuss
- •1. A) Read and sum up the text in several sentences and present your summary in class.
- •Taxes, theirs , and leases
- •2. A) Read the text and discuss what you know about leases in the usa.
- •Leases in the usa
- •3. A) Read the text and discuss what you know about leases in Ukraine.
- •The Ukraine is about to adopt the Convention on International Financial Leasing
- •The need for leasing in the Ukraine
- •The purpose of the Convention on International Financial Leasing
- •The reasons for national and international leasing
- •4. A) In order to get prepared for participation in class discussion, write a summary of the text.
- •What types of commercial lease is being offered?
- •Unit 8 the insurance market
- •I. Reading
- •Read and translate the text:
- •Insurance and risks
- •Vocabulary list
- •II. Vocabulary exercises
- •The insurance market in ukraine
- •Vocabulary list
- •2. Read the dialogue, translate the Ukrainian remarks into English and act it out:
- •3. Make up a dialog on the following:
- •Communicative situations
- •The origins of insurance
- •A) Read and discuss the text.
- •Single out the main facts from the text end present them in short summary.
- •Say what is more important for the development and improvement of Ukraine’s insurance market. The development of ukraine’s insurance market
- •3. A) Write down three-five questions about the text.
- •Lloyd’s of london
- •4. А) Sum up the text in several sentences and present your summary in class.
- •Discuss the services provided by the liability insurance. Overview of the liability insurance policy
- •4. A) Read the text to find answers to the following questions:
- •Workers’ compensation insurance
- •Unit 9 taxation
- •What are taxes?
- •Іі. Vocabulary exercises
- •Column a
- •Tax system in Ukraine
- •A. Dialogue
- •1. Read and translate the dialogue in pairs: Taxation in Ukraine
- •Vocabulary:
- •2. Read the dialogue, translate the Ukrainian remarks into English and act it out:
- •B. Communicative situations
- •4. Make a short essay on the following:
- •A) Supply the articles where necessary.
- •A) Supply prepositions where necessary.
- •What Is an Excise Duty?
- •Open the brackets putting the verbs in the correct form: Tax Reform in Developing Countries
- •Read the text below carefully and underline the parts of it giving basic ideas about the desired features of a tax system. Tax System Design
- •I. Mark the correct answers on the following questions:
- •II.Fill the tables:
- •III. Match what statements are true and what are false. Results write to the table:
- •Phraseology of reports and speeches coherent and generalization phrases
- •Phrases that are used in admission expressions
- •Nouns: common and possessive case
- •Some common noncount nouns
- •Using nouns as modifiers
- •The indefenite aricle
- •The definite article
- •No article
- •Personal pronouns
- •Possessive pronouns
- •Reflexive pronouns
- •Indefinite pronouns
- •Quantitive pronouns
- •Demonstrative pronouns
- •Degrees of comparison of adectives and adverbs
- •Numerals
- •The functions of the verb «to be»
- •The functions of the verb «to have»
- •The functions of the verb «to do»
- •General questions
- •Tag questions
- •Question words when
- •More questions with how
- •Modal verbs can; could to be able to
- •May; might
- •Must; be to; have to; have got to
- •Should; ought to
- •Will; would
- •Indefinite pronoun «one»
- •The pronouns «both, either and neither»
- •Senquence of tenses
- •The infinitive
- •The prepositional infinitive complex
- •The objective infinitivecomplex
- •The subjective infinitive complex
- •The participle
- •Complexes with the participle the objective participle complex
- •The subjective participle complex
- •The gerund. Forms and functions
- •The gerundal complex
- •Conditional sentenses
- •Irregular verbs
- •Glossary
- •Reference list
Vocabularry list
to lease – здавати в найм, в оренду; брати в оренду
leasing – оренда, лізинг
nuisance – прикрість, незручність
lessee – наймач, орендар
lessor – орендодавець, орендатор
to negotiate – вести переговори, домовлятися
standpoint – точка зору
secured loan – позика під заставу
questionable – сумнівний
to claim – вимагати
tax reduction – зниження податку
to repeal – анулювати, скасовувати
contractual agreement – контракт
asset – актив
obtain – досягати, набувати
lease contract – договір оренди
involve – містити в собі; тягти за собою
figura – діаграма
direct lease – прямий (фінансовий) лізинг
lease-back – зворотній лізинг
sales type lease -– оренда типа продажу; лізинг-реалізація
operation lease – операційна (поточна) оренда, операційний (оперативний)лізинг
to amortize – погашати борг з виплати, здійснювати амортизаційні відрахування
residual value – залишкова вартість
insure – страхувати
cancellation – анулювання; відміна, скасовування
option – право вибору, опціон
expiration date –закінчення терміну; останній день, коли даний опціон може бути виконаний
to cancel – анулювати; відміняти, скасовувати
financial lease – фінансовий (капітальний) лізинг
lease-back – зворотний лізинг
leveraged lease – кредитний лізинг
bulk – великі розміри; велика кількість
non-recourse loan – кредит без права регресу (обороту)
obligate – зобов’язувати
to lower – знижувати, зменшувати
lien – право арешту (утримання) майна боржника; право на заставу
to save taxes – виключати податки; передбачати вилучення податків
Ex. 1. Find equivalents:
1. to lease a) зниження податку
2. short term lease b) прямий лізинг
3. lessor с) здавати в найм
4. tax reduction d) короткостроковий лізинг
5. contractual agreement e) операційний лізинг
6. direct leases f) контракт
7. operation leases g) орендодавець
8. residual value h) кредитний лізинг
9. cancellation clause i) залишкова вартість
10.leveraged lease j) умова анулювання
11. bulk k) право арешту майна боржника
12. non-recourse loan l) фінансовий лізинг
13. lien m) великі розміри
14. to save taxes n) кредит без права регресу
15. financial lease o) виключати податки
Ex. 2. Enter correct correspondences in English or in Ukrainian:
ENGLISH |
UKRAINIAN |
lien |
|
|
фінансовий лізинг |
|
великі розміри |
to lower the lease payment |
|
leveraged lease |
|
|
зворотний лізинг |
cancellation option |
|
|
закінчення терміну |
|
операційний лізинг |
lease contract |
|
to repeal taxes |
|
|
точка зору |
|
орендар |
long-term lease |
|
|
діаграма |
nuisance |
|
Ex. 3. Find English equivalents for the following Ukrainian phrases:
будь-який актив можливо здати (взяти) в оренду; часто здається, оренда – зручна річ; короткострокова (довгострокова) оренда; фінансування майна або обладнання; орендар (наймач) та орендодавець (орендатор); обговорювати умови договору оренди; купити обладнання за рахунок позики під заставу; зниження податку; здійснювати періодичні платежі власнику активу; купити актив у виробника; передавати актив орендарю; обов’язкові платежі за умовами оренди; повністю покривати витрати; сподіватися покрити витрати за рахунок поновлення оренди; продаж активу за залишковою вартістю; підтримувати ( у належному стані ) та страхувати; право скасовувати договір оренди до закінчення терміну; мати право поновити оренду по закінченню терміну; стикатися із ризиком банкрутства; отримувати готівку з продажу активу; продавати актив іншої фірмі та безпосередньо брати його в оренду; тристороння угода; отримувати процентні платежі від орендодавця; користуватися кредитом без права регресу;орендний платіж зменшується, коли орендодавець виключає податки.
Ex. 4. Fill in the blanks with prepositions, pronouns or conjunctions if necessary:
1. More equipment is financed today … long-term leases than … any other method … financing.
2. Typically, the lessee first decides … the asset needed and then negotiates a lease contract … a lessor.
3. … the lessee-standpoint, long-term leasing is similar … buying the equipment … a secured loan.
4. However, the principal benefit … long-term leasing is … tax reduction.
5. Leasing allows the transfer … tax benefits … those who need equipment but cannot take full advantage … the tax benefits associated … ownership … a party who can.
6. A lease contract establishes that the lessee has the right to use an asset and … return must take periodic payments … the lessor, the owner …the asset.
7. If the lessor is an independent leasing company it must buy the asset … a manufacturer and then it delivers the asset … the lessee, and the lease goes … effect.
8. Because the user can also buy the asset, leasing and buying alternative financing arrangements … the use … an asset.
9. Operation leases are usually not fully amortized and the payments required … the terms … the lease are not enough to recover the full cost …the asset … the lessor.
10. The lessor must expect to recover the costs … the asset … renewing the lease or … selling the asset … its residual value.
11. The value … cancellation clause depends … whether future technological and economic conditions are likely to make the value … the asset … the lessee less than the value … future lease payment … the lease.
12. Two special types … financial leases are the sale and lease-back arrangement … the leveraged lease.
13. The lessee receives cash … the sale … the asset.
14. The arrangement would be a leveraged lease if the bulk … the financing was supplied … creditors.
15. The lender … a leveraged lease use nonrecourse loan, this means that the lessor is not obligated … the lender … case … a default.
Ex. 5. Fill in the blanks below with the appropriate terms from the list:
leasing company; a sale and lease-back; the lessor; operating lease; a short-term lease; secured loan; the lessee; long-term leasing; direct leases; contractual agreement; cancellation option; a leveraged lease.
Renting a car for a few days is an example of a … .
… is a method of financing property, plant and equipment.
… is the user of the equipment and … is the owner.
For lessee long-term leasing is similar to buying the equipment with a … .
A lease is a … between a lessee and a lessor.
The lessor is either the asset’s manufacturer or an independent … .
Leases are called … if the lessor is an independent leasing company who purchased the equipment from a manufacturer.
… means that the payments required under the terms of the lease are not enough to recover the full cost of the asset for the lessor.
Perhaps, the most interesting feature of an operating lease is the … .
Generally, … cannot be canceled this means that the lessee must make all payments or face the risk of bankruptcy.
... occurs when a company sells an asset it owns to another firm and immediately leases it back.
… is a three-side arrangement among the lessee, the lessor and the lender.
Ex. 6. Complete the following sentences:
1. Long-term leasing is … .
2. The lessee is the user of … .
3. The lessee first decides on the asset needed … .
4. The terms of the lease contract are compared to … .
5. The agreement establishes that … .
6. If the lessor is an independent leasing company it must … .
7. Because the user can also buy the asset, … .
8. Operating leases are usually not fully amortize, this means that … .
9. The lessor must expect to recover the costs of … .
10. Operating leases usually require the lessor … .
11. The cancellation option gives the lessee the right … .
12. Financial leases do not provide for … and the lessee usually has a right … .
13. Two special types of financial leases are … .
14. A sale and lease-back occurs when … .
15. A leveraged lease is a three-sided arrangement among … .
16. The lenders in a leveraged lease use a nonrecourse loan, this means … .
17. The lessor puts up only part of the funds but gets … .
18. These lease payments are used to pay … .
Ex. 7. Match each term in Column A with its definition in Column B:
Сolumn A Сolumn B
1. Long-term leasing a) a legal agreement that allows you to use a building, a piece of equipment or some land for a period of time, usually in return for rent or regular payments
2. Lessee b) to sell property or a valuable asset and continue to use it by paying rent to the new owner or to buy an asset and allow the seller to continue using it in exchange for regular payments
3. Lessor c) an arrangement in which financial institution buys a vehicle, piece of machinery, etc. and lets a business use it for an agreed period of time in exchange for regular payments
4. A lease d) an arrangement by which a business pays to use a pies of equipment, a building, etc. for a period of time
5. Operating lease e) a person who has use of a building, an area of land, etc. on a lease
6. Financial lease f) a three-sided arrangement among the lessee, the lessor and the lenders
7.Leveraged lease g) a person who gives smb the use of a building, an area of land, etc. on a lease
8. Lease-Back h) the method of financing equipment more over a term more then 5 years
Ex. 8. Answer the following questions:
1. What is the most convenient method of equipment financing today?
2. What parts does every lease contract have?
3. Long-term leasing is similar to buying the equipment with a secured loan for the lessee, isn’t it?
4. What does a lease contract establish?
5. How does an independent lessor operate ?
6. Operation leases are usually not fully amortized. What does it mean?
7. What do operation leases usually require?
8. What rights does the cancellation option give?
9. What does the value of cancellation clause depend on?
10. What main characteristics do the financial leases have?
11. When does a sale and lease-back occur?
12. What characteristic features does the lease-back have?
13. A leveraged lease is a three sided arrangement, isn’t it?
14. What common and distinguishable features does it have?
15. The lenders in a leveraged lease typically use a nonrecourse loan. What does it mean?
16. When may the lender be protected from suffering losses?
Ex. 9. Translate into English:
1. Довгостроковий лізинг – це метод фінансування власності, заводів та устаткування.
2. Кожен орендний договір має дві сторони: орендар та орендодавець, орендар – це користувач устаткування, а орендодавець – його власник.
3. Зазвичай орендар вирішує, яки активи йому потрібні, а потім обговорює умови оренди з орендодавцем.
4. З точки зору орендаря довгостроковий лізинг подібний купівлі устаткування за позику під заставу.
5. Головною перевагою довгострокової оренди є зниження податків.
6. Орендний договір встановлює, що орендар має право користуватися активами, але, в свою чергу, повинен здійснювати періодичні платежі їх власнику.
7. Якщо орендодавець є незалежною лізинговою компанією, то він повинен купити актив у виробника, а потім передати його орендарю, і договір про оренду набуває чинності.
8. Незалежні лізингові компанії, яки купують устаткування у виробника, здійснюють прямий лізинг.
9. Виробник сам може здавати в оренду свою продукцію, такий лізинг називається лізингом-реалізацією.
10. За умов операційного лізингу, обов’язкових платежів, передбачених контрактом, недостатнє щоб повністю покрити витрати орендодавця.
11. Орендодавець може сподіватися покрити витрати за рахунок поновлення оренди або продажу активів за їх залишковою вартістю.
12. Цікавою особливістю операційного лізингу є те, що орендар має право скасувати угоду до закінчення терміну.
13. Фінансовий лізинг виключно протилежний операційному, він не забезпечує підтримку та обслуговування орендодавцем.
14. Зазвичай фінансовий лізинг не може бути скасованим, орендар повинен здійснювати всі платежі щоб не зіткнутися з ризиком банкрутства.
15. Лізинг-реалізація та зворотній лізинг відбувається, коли компанія продає власний актив іншої фірмі та безпосередньо бере його в оренду.
16. Кредитний лізинг – це тристороння угода між орендарем, орендодавцем та кредитором.
17. Орендодавець купує активи, передає їх орендарю і збирає орендні платежі.
18. Кредитор застосовує позику без права регресу, це означає, що орендодавець незобов’язаний перед ним у випадку дефолту.
Ex. 10. Write several paragraphs on the following using the given words and word combinations:
a) Leasing. The basics:
long-term leasing, financing, lease contract, the lessee, the lessor, tax reduction, tax benefits, a contractual agreement, periodic payments, the owner of the asset, asset's manufacturer, an independent leasing company, to deliver the asset, the use of an asset, alternative financing arrangements, sales-type leases.
b) Operating leases:
operating leases, not fully amortized ,to expect to recover the costs, renewing the lease, selling the asset, residual value, to maintain and insure the leased assets, the cancellation option, expiration date, the value of a cancellation clause, future technological and/or economic conditions, lease payments.
c) Financial leases:
financial leases, opposite of operating leases, a right to renew the lease on expiration, cannot be canceled, alternative method of financing to purchase, lease-back arrangement and the leveraged lease, to receive cash from the sale of the asset, to makes periodic lease payments, a leveraged lease, to purchase the assets and to deliver them, to collect the lease payments, the remaining financing, interest payments, a nonrecourse loan, case of a default, to have a first lien on the asset, tax benefits.
Ш. ORAL PRACTICE
A. DIALOGES