Listen to the following extract from the conversation between Buckhurst and Brent, which shows how the situation progressed. Try to complete the gaps, using no more than three words in each case.

Buckhurst:	I've found out … … … the difference in those two amounts.
Brent:	Oh?
Buckhurst:	I'm afraid it was … … . It can only have been Donald Kennet, … … who always goes … … … . I'm very upset … … .
Brent:	I wonder what he'll have to say … … .
Buckhurst:	Yes. I'm just going … … now. He's waiting ... … … .
	(Later.)
Buckhurst:	Well, Mr. Brent, when … … … you'll be finished?
Brent:	Oh, I think I … … … by the end of the month. But now I've seen the extent … … …, I'll bring in two … … … to help me.
Buckhurst:	No more problems … …?
Brent:	No, I don't think so. It all seems to be … … .
Buckhurst:	Thanks. By the way, that clerk … … .
Brent:	Oh dear! Poor fellow. You'll have … … … , I suppose.
Buckhurst:	Yes, we … … … . It's a pity. He … … and he's been satisfactory … … … , apart from this.
Brent:	Well, I'm sorry to have been … … of such … … … .
Buckhurst:	We're very glad you did … … . You have probably saved … … from an even … … .

Exercise 4

Match the terms on the left with an appropriate explanation on the right. Five of the phrases have more than one explanation. Fill in the grid below.

1.	auditor	a.	things which belong to company or person, and which have a value
2.	shareholders	b.	money owed by a company, a debt
3.	Profit Statement	c.	a statement of the company’s position on a certain date, which shows the assets and the liabilities and the capital on that date
4.	Balance Sheet	d.	written document from a bank showing the balance of an account
5.	assets	e.	those who own shares in a company
6.	liabilities	f.	individuals who invest their money in a company hope to receive these regularly
7.	dividend	g.	pieces of paper supplied by the bank in duplicate for the purpose of recording the exact amount of cash and cheques paid into a customer’s account
8.	valuation	h.	part of a company’s profits paid to shareholders
9.	bank statement	i.	a summary of all the income and expense accounts at the end of the accounting period
10.	paying-in vouchers	j.	a statement of the financial position of a company or trader or partnership at a particular time, such as the end of the financial year, showing the company’s assets and liabilities
		k.	a qualified accountant who is called in on behalf of the members of a limited company to examine and report upon the accounts of the company
		l.	liabilities plus owners’ equity
		m.	estimate of how much something is worth
		n.	a person or firm or partnership which examines the books and financial records of a company
		o.	the name for everything that a company owes

1.	2.	3.	4.	5.	6.	7.	8.	9.	10.
k, …

POST-LISTENING

Consider the following points. Share your ideas with a partner or a small group. Be prepared to explain your answers to the class.

a) What does the work of W. Buckhurst entail?

b) Why is stock valuation one of the most difficult jobs?

c) What for are the cheques made out to members of the staff in Harper & Grant Ltd.? In what way are they cashed?

d) What is the reason for the anomaly in the bank statement?

e) What was wrong with the withdrawals on the bank statement?

2. Recount the situation as if you were Mr. Brent. Sum up the anomalies found in stock valuation and in the cheques made out to members of the staff.

3. Suppose you are Donald Kennet. Do you find it fair to dismiss you?

4. Give a lecture on auditing the accounts of a limited company. Illustrate it with the situation in Harper & Grant Ltd.

5. Act out

a) a conversation between Brent and Buckhurst. Discuss the pro and contra of stock valuation;

b) an imaginary talk between Buckhurst and Kennet after the dismissal;

c) a conversation between Brent and Buckhurst. Discuss the anomaly with the withdrawal on the bank statement.

Unit 21

Debtors

Phrase list

Listen to the tape and practise the pronunciation of the following words and word combinations, quote the sentences in which they are used in the unit. Consult a dictionary and translate them into Russian.

to chase up bad debts

Retail / wholesale business

to do business on a cash basis / on credit

to defer payment

the amount (total) due on a particular transaction

to receive long/short credit

to offer an inducement to somebody

to become insolvent

debt collector

to be a good credit risk

to write to the bank for a reference

to get a drive on