Ex.2. Put the verbs in brackets into the correct form

1. What shall we do if he (be) late?

2. It will be a pity if you (not get) the job.

3. It will be better if you (use) my computer.

4. If you (come) late again, you (be fired).

5. If you (have) sense, you (buy) these shares a year ago.

6. If you (go) to a job interview, you should be well prepared.

7. If you (not buy) useless things, you (be able) to save more.

8. What you (do) if you (lose) your passport?

9. If I (not be) so busy, I (keep) her company.

10. If we (not advertise) our products, we (not succeed).

11. If you (ring) me yesterday, I (tell) you something very important.

12. If I (not be) so busy then, I (join) you.

13. He (not succeed) in such a risky business if he (not be) such a clever entrepreneur.

14. If Unit Trusts (not put) investors' money into different companies, their risk (be) much higher.

Speech and Discussion

Ex.1. Define the following terms:

s Unit trust

s gilt-edged security

s futures

s options

s swaps

Ex.2. If you’d like to raise capital would you invest your money in government securities? Why? Why not?

Ex.3. Discuss with your groupmates the advantages and disadvantages of stocks and bonds as a form of investment.

Ex.4. Familiarize yourself with the following idioms. Consult your dictionary and translate the sentences into Ukrainian. Think of situations where you could use them.

1. I have to be careful how I spend my money. I don’t have money to burn.

2. There must be some way to raise enough money to buy a car. We’ve put all our savings together but it isn’t enough. Still, there’s more than one way to skin a cat. I’ll get a second job!

3. I need more work like I need a hole in the head.

4. The boss wasn’t happy with a few of his workers who had begun to leave the office before quitting time. He was afraid they would fall into the habit of leaving early if he didn’t nip it in the bud, so he told them they would have to stop.

5. Let’s skip the small talk, and go straight to the nitty-gritty: what price do you want for the car, and when will you be able to part with it?

Ex.5. Comment on the following:

“Future is purchased by the present.”

(S.Johnson)

Lesson 5

Text: Financial Statements

Grammar: Expressing Wishes and Regrets

Terms to remember:

financial statement	™	фінансовий звіт (компанії)
financial performance	™	фінансова діяльність (компанії)
compile (v)	™	укладати; збирати (матеріали тощо)
auditor	™	аудитор; ревізор
annual report	™	річний звіт
profit and loss account (P&L)/income statement	™	звіт про прибутки та збитки; рахунок прибутків і збитків;
revenue	™	дохід; надходження; прибуток
expenditure	™	витрати; витрачання, видаток
turnover	™	оборот
balance sheet	™	баланс; балансовий звіт
mortgage	™	іпотека; застава; заставна
cash flow statement	™	баланс оборотних коштів (активів)
accuse (v)	™	звинувачувати (у чомусь-of)
window dressing	™	“прикраса вітрини”, “причісу-вання балансу”; створення враження високої ліквідності, прикращання дійсного стану справ
creative accounting	™	“творчий бухоблік” (методи завищення прибутку в обліковій практиці)

Financial Statements

A company and its shareholders need to know information about the company’s financial performance. Companies give information about their financial situation in financial statements. This information is compiled by the company accountants and checked by independent auditors. The company’s annual report consists of three financial statements:

s profit and loss account/P&L (BrE) or income statement (AmE) This account shows the revenue (money coming into the business) and expenditure (money going out). It also shows the company’s turnover (total sales), costs and overheads.

s balance sheet This account shows the financial situation of the company on a particular date, usually the end of the financial year. It consists of a list of assets (cash investments, property and debtors – money owed by customers) and liabilities (all the money that the company will have to pay out, such as taxes, mortgage and money owed to suppliers). Firms in a good situation are said to have a strong balance sheet and those that are not, a weak one.

s cash flow statement This document shows the flow of cash in and out of the business. It includes sale of assets, issuing of shares, payment of dividends, trading profits and many other activities.

When company’s accounts are presented in a way that makes performance look better than it really is, the company may be accused of window dressing or creative accounting.

Exercises in Word Study

Ex.1. Form nouns from the following verbs:

perform, inform, supply, pay, act, present, accuse, audit, account (for).

Ex.2. Give the English for:

фінансовий звіт компанії, акціонери, фінансова діяльність компанії, бухгалтер, незалежний аудитор, річний звіт, звіт про прибутки та збитки, доходи та витрати, накладні витрати, балансовий звіт, активи та пасиви, майно, податки, застава, постачальники, баланс оборотних коштів, продаж активів, виплата дивідендів.

Ex.3. Match words from list A with words from list B that have a similar meaning: