Suppose you run a bakery. Try to make a weekly order to your supplier.

2. What kind of equipment, raw materials and manufactured parts will you order if you set up a tailor's business? If you own a car repair shop?

Make up sentences using the words from columns 1,2,3,4.

1	2	3	4
The secretary Miss Walsey Donovan and Sons	keeps   is typing   sends	an order   a letter   records   cheques	for the delivery of microwave cookers   for 1000$   of all the company's machinery   to Pitkin, Ltd.

BUSINESS ENGLISH.

Самостоятельная работа № 3.

 

Вариант А.                                      Вариант В.

I. Try to guess and write down         I. Try to guess and write down          

at which departments:                                which departments are headed

a) they develop a new product;                           by the following people:

b) they make the product;                        a) the one who is responsible

c) they promote and sell the product;                  for the company’s finances;

d) they take care of the company’s          b) the one who makes the company’s

staff;                                                                       products known to the customers;

e) they deliver the products to the           c) the one who recruits new workers

buyers;                                                        and employees;

f) they take care of the company’s          d) the head of the department making

staff .                                                              the products.

II. Match the words:

1. Accountant                                       а) младший партнёр

2. Business is going well                                б) высоко-доходная компания

3. Delivery                                            в) безработный

4. Deal                                                  г) взять под свой контроль

5. Lower-level manager                         д) прибыль

6. To survive                                        е) рекламировать

7. To develop a product                                 ж) быть во главе

8. Unemployed                                     з) качество

9. Income                                              и) оборудование

10. Financial manager                                 к) %

11. To be at the head of                               л) процветать

12. Purse                                            м) юридическая консультация

13. Quality                                                  н) владелец

14. To be on sale                                         о) доход

15. To promote                                  п) выживать

16. Junior partner                                        р) в государственной собственности

17. To belong                                     с) юрист

18. Owner                                                    т) управлять

19. State-owned                                           у) принадлежать

20. Lawyer                                                  ф) менеджер нижнего звена

21. Profit                                            х) сделка

22. Equipment                                   ц) бизнес процветает

23. Highly-profitable company                   ч) кошелёк                   

24. Legal advice                                           ш) ОАО

25. To take over                                          щ) плата

26. To manage                                   ъ) развивать продукт

27. To flourish                                   э) доставка

28. Interest                                                  ь) бухгалтер

29. Payment                                                ю) менеджер по финансам

30. Public company                           я) принадлежать

 

 

Тексты для дополнительного чтения.

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. 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 compares the expenses involved to the expected revenues. It helps him to predict cash flow.

The financial manager plans a strategy to make the ending cash positive. He can trim expenses or ask the customers to pay faster.

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

 

What is Finance?

Finance is the study of how people allocate scarce resources over time. Two features that distinguish financial decisions from other resource allocation decisions are that the costs and benefits of financial decisions are 1) spread out over time and 2) usually not known with certainty in advance by either the decision makers or anybody else. In deciding whether to start your own restaurant, for example, you must weigh the costs (such as the investment in fixing up the place and buying the stoves, tables, chairs, little paper umbrellas for exotic drinks, and other equipment you need) against the uncertain benefits (you future profits) that you expect to reap over several years.

In implementing their decisions people make use of the financial system, defined as the set of markets and other institutions used for financial contracting and the exchange of assets and risks. The financial system includes the markets for stocks, bonds, and other financial instruments, financial intermediaries ( such as banks and insurance companies), financial - service firms (such as financial advisory firms), and the regulatory bodies that govern all these institutions. The study of how the financial system evolves over time is an important part of the subject matter of finance.

Finance theory consists of a set of concepts that help to organize one's thinking about how to allocate resources over time and a set of quantitative models to help one evaluate alternatives, make decisions, and implement them. The same basic concepts and quantitative models apply at all levels of decision making from your decision to lease a car or start a business, to the decision of the CFO of a major corporation to enter the telecommunications business, to the decision of the World Bank about which development projects to finance.

A basic tenet of finance is that the ultimate function of the system is to satisfy people's consumption preferences, including all the basic necessities of life, such as food, clothing and shelter. Economic organizations such as firms and governments exist in order to facilitate the achievement of that ultimate function.

Bank Operations.

a) Saving Account.

To open a saving account at a bank a small initial deposit is needed. If you open your account with 500$ or more and keep that much at all time, there is no service charge. If you fall below the 500$ limit, you will be charged 5 $ a month.

A bank computer adds all the daily figures and then divides by the number of days in your statement period. That's called your average daily balance.

When you open your account, you'll be in touch with your money thanks to bank machine services. These machines can handle most regular teller transactions. You can make deposits, cash withdrawals, and balance inquiries with your automatic teller card. The machine is at work 24 hours a day 7 days a week.

If, for example, you want to open a saving account with a deposit of 1000 $, you are supposed to fill in an application. Besides you need to write a deposit ticket for 1000 $. After filling the application you are given a passbook. Once you place your money in a saving account, interest on your money begins to accrue. The bank will pay you 4 or 5 %.

 

Vocabulary.

Bank operation - банковская операция

Saving account - сберегательный счёт

Service charge - оплата банковских услуг

If you fall below - если ваш счёт меньше

Add - суммировать

Daily figures - ежедневные цифры

Divide by - делить на

 Statement - период хранения

Yоu'll be in touch - вы будете иметь доступ

Handle - справляться с, выполнять

Teller - кассир в банке, банковский служащий

Transaction - банковская операция

Make deposits - вносить деньги

Make cash withdrawals - снимать деньги

Make balance inquiries - узнать, каков ваш баланс

Application - заявление, анкета

Deposit ticket - пртходный ордер

Passbook - сберегательная книжка

Interest - процент

Accrue - нарастать

b) Checking Account.

If you want to open a checking account, you are supposed to maintain an average daily balance of 1000 $. As long as you keep this average balance you won't be charged for banking services. If you fall below the 1000 $ limit, you would have to pay a service charge of 6 $ a month, and each of your transactions would be charged separately.

A transaction charge means that you'll have to pay 25 cents for each check made by you or your spouse and also 25 cents for each cash withdrawals. But you can easily avoid paying these charges by maintaining 1000 $ or more on your account.

Interest is paid if your average daily balance is over 2000 $. Unless you fall below 2000 $, you'll be paid 6.5 %. The bank credit the interest you've earned automatically on your account.

You can order your checkbook after having filled in an application form and your deposit ticket.

For getting a credit card you must have an income of 15000 $ or more. Your last pay stub or a copy of your tax return must prove this income. As soon as the bank has this information, credit cards will be given to you and your wife.

 

Vocabulary.

Checking account - чековый счёт

Maintain - сохранять

Fall below - понизить

Spouse - супруг (а)

Credit - переводить

Earn - зарабатывать

Income - доход

Pay stab - корешок чека

Tax return - налоговая декларация

 

c) Credit Cards.

Credit cards are accepted by millions of businessmen in the USA and abroad. They can be used at hotels, restaurants, department stores, theatres, airline ticket offices - just about everywhere. They even entitle owners to instant cash. The cardholder simply asks a teller to charge cash advance, or loan, rather than a purchase to his or her account. The transaction is approved by phone and the money handed over almost immediately.

VISA and Master Card are the best known bankcards. They are also most established, having been first offered to consumers more than 35 years ago. The Discovery Card is the newest one. Consumers have been drawn up to Discovery Card by attractive discounts up to 150 $ on certain purchases and an annual rebate 1% of the amount charged against the card.

 

Vocabulary.

Accept - принимать

Entitle - давать право на

Instant cash - немедленное получение наличных

Holder - владелец

Cash advance - аванс наличными

Loan - ссуда

 Purchase - покупка

Approve - подтверждать

Established - привычный

Consumer - потребитель

Draw up - привлекать

Discount - скидка

Annual - ежегодный

Rebate - ценовая скидка ( со всей суммы)

Charged against - налагаемый на

 

d) Read and translate.

The Current account.

Bank accounts have varying characteristics. The most basic account is the savings account. Savings accounts cannot be overdrawn, and generally notice has to be given of withdrawal. Current accounts are payable on demand, either by withdrawal or by the customer instructing to the bank to make payment to a third party. They can be overdrawn, by way of overdraft. Then, there are trust accounts, foreign currency accounts, and any other number of accounts with different features and services. The current account holders vary from individuals through to multinational companies and governments. Banks hold accounts at other banks as a result of the system of correspondent banking, and because one bank may act as the agent of another when, for example, it is a member of a payment system and the other is not.

The bank undertakes to receive money and to collect bills for its customer’s account. The proceeds so received are not to be held in trust for the customer, but the bank borrows the proceeds and undertakes to repay them. The promise to repay is to repay at the brunch of the bank where the account is kept, and during banking hours. It includes a promise to repay any part of the amount due against the written order of the customer addressed to the bank at the branch, and as such written orders may be outstanding in the ordinary course of business for two or three days, it is a term of the contract that the bank will not cease to do business with the customer except upon the reasonable notice.

 

 

e) MARKETING.

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