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2.Speak on financial reports in business.

Financial report - summary report that shows how a firm has used the funds entrusted to it by its stockholders (shareholders) and lenders, and what is its current financial position. The three basic financial statements are the (1) balance sheet, which shows firm's assets, liabilities, and net worth on a stated date; (2) income statement (also called profit & loss account), which shows how the net income of the firm is arrived at over a stated period, and (3) cash flow statement, which shows the inflows and outflows of cash caused by the firm's activities during a stated period. Also called business financials.

БІЛЕТ №6

1.Define what fair trade is.

Fair trade is an organized social movement and market-based approach that aims to help producers in developing countries to make better trading conditions and promote sustainability. The movement advocates the payment of a higher price to exporters as well as higher social and environmental standards. It focuses in particular on exports from developing countries to developed countries, most notably handicrafts, coffee, cocoa, sugar, tea, bananas, honey, cotton, wine,[1] fresh fruit, chocolate, flowers, and gold.[2] Fair trade is also associated with the trade justice movement, which advocates for fair trade public policies

Fair trade is about better prices, decent working conditions, local sustainability, and fair terms of trade for farmers and workers in the developing world. By requiring companies to pay sustainable prices (which must never fall lower than the market price), Fair trade addresses the injustices of conventional trade, which traditionally discriminates against the poorest, weakest producers. It enables them to improve their position and have more control over their lives.

2.Expand on it in business.

Information Technology (IT) is the branch of engineering that deals with the use of computers and telecommunications to store, retrieve and transmit information.[1] The acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications are its main fields.[2]

. Information technology (IT) refers to the management and use of information using computer-based tools. It includes acquiring, processing, storing, and distributing information. Most commonly it is a term used to refer to business applications of computer technology, rather than scientific applications. The term is used broadly in business to refer to anything that ties into the use of computers.

Mostly businesses today create data that can be stored and processed on computers. In some cases the data must be input to computers using devices such as keyboards and scanners. In other cases the data might be created electronically and automatically stored in computers. Small businesses generally need to purchase software packages, and may need to contract with IT businesses that provide services such as hosting, marketing web sites and maintaining networks. However, larger companies can consider having their own IT staffs to develop software, and otherwise handle IT needs in-house. For instance, businesses working with the federal government are likely to need to comply with requirements relating to making information accessible.

Effective implementation of information technology would decrease liability by reducing the cost of expected failures and increase flexibility by reducing the cost of adjustment. The businesses reaction to the environment remains to be the vital determinant for its effectiveness. The capabilities and flexibilities of computer-communication systems make them gradually more appropriate to businesses by being able to respond to any specific information or communication requirement.

Information Technology is having impact on all trade industries and businesses, in service as well as in manufacturing. It is affecting workers at all levels of organizations, from the executives to middle management and clerks.

БІЛЕТ №7