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Шургина,Мушинская Методичка 4 курс финансы 111.doc
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  1. Answer the questions:

  1. Why is finance so important?

  2. What are the most common ways firms fail financially?

  3. What are responsibilities of financial managers?

  4. What are the main financial functions? Explain the meaning of each.

  5. What do taxes represent? Why do they fall under the scrutiny of finance?

  6. What is auditing? What are its objectives?

  7. Why is it important that internal auditor be objective and critical?

  1. Make sure you understand the following:

Financial plan, to prepare budget, do cash flow analyses, marketing effectiveness, financial operations, to control money, to lose money, small and medium-size busi­nesses, tax laws, to minimize the taxes, finance department, tax computation, on-budget expenditures.

  1. Find English equivalents to the following:

Активи і пасиви, податки, планування і контроль, бюджетні витрати, ефективність маркетингу, отримання грошей, ефективно використовувати, головний обов'язок, оплата готівкою, спроба змінити податки, ревізор, недостача, регулярний внутрішній контроль, відповідальність.

  1. Complete the sentences with the appropriate word from the box:

Interest, budget, assets, internal auditing, liabilities, income, bill, shareholder, investor, net assets, invoice, net worth, balance sheet, offshore bank, annual report, profit, ledger.

  1. __________ are items which are owned by a business or money which is owed to the business.

  2. __________ are amounts that are owed by a business.

  3. The difference between the assets and the liabilities is known as the __________ ___________or the __________ __________of the company.

  4. A __________ ___________summarizes an organization or individual's assets and liabilities at a specific point in time.

  5. An __________ ___________is a document which a company is obliged to present for approval by its shareholders.

  6. __________ generally refers to a list of all planned expenses and revenues.

  7. __________, generally defined, is the money that is received as a result of the normal business activities of an individual or a business.

  8. A ___________ is an individual or company that legally owns one or more shares of stock in a joint stock company.

  9. __________ generally is the making of gain in business activity for the benefit of the owners of the business. The word comes from Latin meaning "to make progress".

  10. An ___________ is any party that makes an investment.

  11. __________ is a fee paid on borrowed assets.

  12. A ___________ is the principal book for recording transactions.

  13. An ___________ or ___________ is a commercial document issued by a seller to a buyer, indicating the products, quantities and agreed prices for products or services with which the seller has already provided the buyer.

  14. An ___________ ___________is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages.

  15. ___________ ___________ is a profession and activity involved in advising organizations regarding how to better achieve their objectives.