Words and Expressions

application of funds - использование денежных средств

assets - средства, фонды

assets and liabilities - актив и пассив

balance sheet - бухгалтерский баланс, баланс компании

bank overdraft - превышение кредита (в банке)

borrowed funds - заимствованные фонды, заемные средства

bridge cash flow problem - устранить проблему дефицита

денежных средств; budget п - бюджет

budget i; - предусматривать в бюджете, составлять бюджет budgetary process процесс формирования бюджета budgeting п - составление (формирование) бюджета, фи­нансовое планирование, cash flow forecasting прогноз движения денежной налич­ности

continual flow of money постоянный круговорот денег

cost centres - бюро калькуляций

current assets - оборотные фонды, оборотные средства (де­нежные средства, вложенные в запасы сырья, материа­лов, топлива, готовой продукции) current liabilities - краткосрочные обязательства day-to-day adj - повседневный debtor policy - политика в отношении должников existing* liabilities - непогашенные долговые обязательства financial control - управление финансами, финансовый кон­троль

forecast п - прогноз, прогнозирование

Interest charges - расходы по уплате процентов; процент по займам

prevail v - преобладать, превалировать; доминировать profit and loss account - счет прибылей и убытков provided conj — при условии, если только; в том случае, если raise the finance - привлекать фонды, получать ссуду regarding - относительно, касающийся solvent adj - платежеспособный; кредитоспособный source of finance - источник финансирования supplement cash flow - увеличить поток денежных средств system of stock control — система управления запасами target п — цель, мишень; план; задание trading activities торговые мероприятия, торговая дея­тельность working capital - оборотный капитал

|1 Answer the questions.

1. What does the term "financial control" mean?

2. What are the main advantages of budgeting the busi­ness?

3. What factors are to be taken into account while choos­ing the method of finance?

4. What are the main stages of budget preparation?

5. Why is the interdepartmental consultation necessary at all stages of budgetary process?

6. Why is the process of budgeting considered central to the financial management?

7. What is common to all budgets?

8. In what cases can the realistic performance objectives be set?

9. What problems do small businesses face?

10. Why is it necessary to prepare more than one set of forecasts concerning the business's expected per­formance?

11. Why some sources of finance are not available to all business?

12. What is the major reason preventing the growth and development of small businesses?

|2* Translate the sentences into Russian paying special attention to the expressions in bold type.

1. Financial control means the directing and monitoring of the financial resources within the business.

2. The reason a business requires finance is often the most important factor in determining how the finance will be obtained - the source of funds.

S. The provision of advice concerning the best method of financing is one of the key responsibilities of the Finance Department.

4. Common to all budgets is that they relate to the future and that they are therefore based upon forecasts rather than facts.

5. If the funds are needed immediately, then the choice is likely to be restricted to a small number of sources.

IJ* Read the text below, pick out words and expressions in bold type and match them with synonymous words and expressions from the box.

administrative, in that way, reveals, off ice-workers, benefits, corporate image, consequently, on top of that, purposes, lastly, goals, contact

The Importance of Budgeting to the Business

1. The process of budgeting is central to financial man­agement and the efficient operation of the business. The main advantages to the business can be summa­rized as follows:

2. Budgeting requires the business to consider its objec­tives and i t therefore clarifies its aims and polices.

3. Each department or sub-department is required to plan expenditure. This identifies the different areas of man­agement responsibility within the business,

4. It gives the people, who work in the business targets to aim for, which improves incentives and motivates employees.

5. Budgeting requires cooperation and communication between the various departments within the business. Thus it helps to develop a corporate identity and reduces departmentalization.

6. In addition budgeting improves the central control of the business by senior management.

7. Finally, budgeting identifies strengths and weaknesses with­in the business and therefore helps to improve efficiency.

|4* Translate the sentences into English paying special attention to the expressions in bold type.

1. Выбирая оптимальный метод финансирования сле­дует принять во внимание ряд факторов.

2. После того как бюджет согласован, он используется для контроля за деятельностью всех отделов компании.

3. Следует отметить, что, чем больше предприятие, тем больше у него выбор потенциальных источников фи­нансирования.

4. Следовательно, нужно принять решение относи­тельно наиболее целесообразного источника фи­нансирования.

5. Малые предприятия сталкиваются с трудностями в получении финансовых средств, в которых они нуждаются.

_{Unit 4. DISCUSSION}

15 Study the expressions in the Useful Language box and the examples below showing different lexical and gram­matical ways of expressing one and the same language function.

Useful Language

Expressing similarity 1. in the same way as 2. in a similar way 3. as in the case of 4. as + clause 5. as -1- preposition phrase	Expressing contrast 1. in spite of 2. despite 3. but 4. although/though 5. while/whereas
Expressing condition 1. if 2. in case of 3. on condition that 4. supposing 5. were he/she/it (instead of 'if he/she /it were')	Giving advice 1. You should.../may be you should... 2. You had better... 3. Why don't you... 4. If I were you 1 would... 5. I'd advise you ...

6 Английский ЯЗЫК ДЛЯ JKOHOMистов

1. similarity

1. Written works and works of art are protected by law in the same way as scientific works,

2. As in the case of scientific works written works and works of art are protected by law.

3. The law protects written works and works of art as it protects scientific works.

4. In Canada, as in the USA, written works, works of art and scientific works are protected by law in a similar way.

2. contrast

1. The investment is very huge but the productivity is rather low.

2. In spite of huge investment the productivity is rather low.

3. Despite huge investment the productivity is rather low.

4. Although the investment is very huge, the productivi­ty is rather low.

5. The productivity is rather low whereas the investment is very huge.

3. condition

1. If the advertising is good the product will sell well.

2. On condition that the advertising is good the product will sell well.

3. In case of good advertising the product will sell well.

4. Supposing the advertising is good the product will sell well.

5. Were the advertising good the product would sell well.

4. advice

1. In case you are broke you should borrow money from the bank.

2. In case you are broke you had better borrow money from the bank.

3. You say you are broke. Why don't you borrow money from the bank?

4. Are you really broke? If I were you I would borrow money from the bank.

5. In case you are broke I'd advise you to borrow money from the bank.

15* Rewrite each sentence so that it has a similar meaning and it contains the expression in bold type.

1. Many people take no care of their money till they come nearly to the end of it, and others deal in the same way with their time.

in a similar way

2. On condition that the brand is well-known the dealers will be willing to carry the product;.

if

3. May be you should agree on equal representation of German and Greek shareholders.

I'd advise you

3. Though the competition was very severe the sales had rap­idly increased.

in spite of

3. As in the case of personal selling, wholesale selling requires much effort.

in the same way as

3. If the consu mer likes the product he will continue to use it. on condition that

7. In advertising as in promotion the most important quality is the gift of persuasion, as in the case of

8. Why don't you ask the bank for a short-term loan? If I were you I would

9. Despite the criticism of advertising it is a very effective source of informing and influencing the customer, although

10. Supposing the advertising campaign is effective the demand will be very high, in case of

11. This job requires high qualification and much effort but the salary is rather low. whereas

12. You had better offer your assets as collateral for a loan, you should

|7 Read what famous people said about finance. Discuss the position of the authors. Support your point of view with reasons and examples from your reading, your observa­tions or your own experience. Use the expressions from the Useful Language box.

1. We estimate the wisdom of nations by seeing what they did with their surplus capital.

Ralph Waldo Emerson (1803-1882), American poet, essayist

2. What is high finance? It's knowing the difference between one and ten, multiplying, subtracting and adding. You just add noughts. It's no more than that.

John Bentley, British Director of Wordnet PLC

3. You need to have enough immediate profits that you can finance the long-range growth without diluting the stock.

Paul Cook, Business executive

4. It sounds extraordinary but it's a fact that balance sheets can make fascinating reading.

Mary Archer, British scientist and business executive

5. Finance is the art of passing currency from hand to hand until it finally disappears.

Robert W. Sarnoff

|g Read what famous people said about borrowing and lending. Discuss the extent to which you agree or dis­agree with the opinion stated below. Support your point of view with reasons and examples from your reading, your observations or your own experience. Use the expressions from the Useful Language box.

1. If you would know the value of money try to borrow some.

Benjamin Franklin (1706-1790), American scientist, publisher,

diplomat

2. Borrowing is not much better than begging; just as lending with interest is not much better than stealing.

Doris Lessing, British novelist

3. Don't borrow money from a neighbor or a friend, but of a stranger where, paying for it you shall hear of it no more.

Lord Burleigh

4. When a person has no need to borrow they find multi­tudes willing to lend.

Oliver Goldsmith (1728-1774), Anglo-Irish author,

poet, playwright

5. Before borrowing money from a friend decide which you need most.

Ralph Waldo Emerson (1803-1882), American poet, essayist

|9 Read proverbs about lending and borrowing and com­pare them with quotations on the same subject. Pick out proverbs, developing the same or similar idea as that presented in quotations. Translate the proverbs into Russian and try to find equivalent sayings or quotations in Russian.

1. He that goes a borrowing goes a sorrowing.

2. Lend your money and lose your friend.

3. Loans and debts make worry and frets.

4. Quick to borrow is always slow to pay.

5. People lend only to the rich.

_MONEY

_{AND THE BANKING SYSTEM}

Unit 1. READING AND TRANSLATION PRACTICE