Read all the items of the balance sheet making the assets of the company

ü items — пункты

Translate this balance sheet sample into Russian.

5. Make sentences:

• The lecturer distributed	many materials a few diagrams a few balance sheets a few balance sheet samples
• It was a lecture on	accounting balance sheet making securuties share capital reserves loans investments

• The balance sheet says that

the assets the liabilities the net assets the total share holder's interest

of the Company in 1997 are/is ..

6. Complete the sentences:

Current assets consist of cash, marketable securities ...

Long-term assets consist of property, plant and equipment, in­vestments ...

Total assets consist of current assets and ...

Current liabilities consist of loans and ...

Long-term liabilities consist of loans and ...

Total liabilities consist of current liabilities and ...

Total assets minus total liabilities make net assets ...

Shareholder's interests plus minority interests make total ...

ü to consist — состоять

7. Answer the following questions:

On what subject was the lecture mentioned in this Unit read?

What sample did this Unit capture?

What terms were lather difficult to remember?

Unit twenty nine

Taxes

Text

On a certain day after the lecture on the UK taxation system the Group was to visit the Tax Department of a lawyers' firm in the centre of London. Mr. Hill and the participants went there by tube which is the fastest means of transport when one wishes to move in the centre of the city. After they got into the building of the firm they went to the secretary's office.

Mr. Hill: Good afternoon.

Secretary: Good afternoon, sir.

Mr. Hill: My name is Hill and here is the Group of Russian busi­nessmen. We have got an appointment with Mr. Brown for three.

Secretary: Mr. Brown is waiting for you in the conference room. Follow me, please.

In the conference room a few Englishmen were waiting for the Group. Mr. Brown, Head of the Department, welcomed the Group and introduced his colleagues. They were solicitors and legal assistants of different offices. Each of them spoke about his scope of business for some time. Thus the participants had some information on com­mercial taxes, international taxes. Project Finance taxes and other taxation matters.

A lot of questions were asked and answered then. The discussions were very useful and informative. Before the participants left they were offered latest Tax Guides containing current tax rates and tax saving hints.

Here is an extract from the Guide:

Corporation Tax Rates 1997

à Standard rate 33%

à Small companies rate (see the note) 25%

N o t e

Applicable if the company's total profits, including chargeable gains, are 300.000 pounds sterling or less. The threshold is re­duced if the company has associated companies.

Examples: Corporation Tax calculations

Example 1. Standard rate of tax Company A has accounts year ending 31 December 1996. It has taxable profits for the year GBP 2,000,000.

Company A's Corporation Tax for 1996 is GBP 2,000,000х33% = GBP 660,000

Example 2. Small companies rate of tax Company В has ac­counts year ending 31 December 1996. It has taxable profits for the year of GBP 150,000. It has no associated companies.

Company B's Corporation Tax for 1996 is GBP 150,000х25% = GBP 37,500

Words and expressions

tax		налог
tax department		налоговый отдел
taxation		налогообложение
was to visit		Он должен был посетить
solicitor		адвокат (дающий советы
		и готовящий документы
		для суда)
legal		юридический
assistant		помощник
legal assistant		помощник по юридиче­
		ским вопросам
scope		объем, диапазон
scope of business		объем бизнеса
commercial	[k@'mýSl]	торговый
commercial taxes		налог на торговые пред­
		приятия
Project Finance		проектное финансирова­
		ние
matter		вопрос, дело
taxation matters		вопросы- налогообложе­
		ния
guide	[gaId]	справочник
tax guide		справочник по налогам
rate		ставка
tax rate		ставка налога
to save		сэкономить
hint		намек, идея, отдельная
		рекомендация
tax saving hints		рекомендации для ле­
		гального уменьшения
		уплаты налогов
corporation		корпорация
note		примечание
to apply	[@'plaI]	применять
applicable		применяемый
to include		включать
including		включая
to charge		взимать, брать, взыски­
		вать
charge		взимание
chargeable		взимаемый
gains		выручка
less		менее,за вычетом
threshold	['TreShould]	порог
associated		ассоциированный
accounts year		отчетный год
taxable		налогооблагаемый

Exercises1. Read the following:

• after the lecture on UK taxation system the Tax Department in the centre of London They went there by tube.

• It is the fastest means of transport. They went to the secretary's office. in the conference room an extract from the guide threshold

2. Underline the answers true to the text:

• After what lecture did the group visit a lawyers' firm?	On taxation. On lawyers. On lawyers' firms.
• By what means of transport did they go?	By taxis. By tube. By bus.
• Who is Mr. Brown?	Secretary. Head of a department. Head of the firm.
• How many lawyers were present at the talk?	Only Mr. Brown. Mr. Brown and a colleague of his. Mr Brown and a few col­leagues of his.
• On what matters did they speak?	Only on commercial taxes. Only on international taxes. Only on Project Finance taxes. On a few taxation matters.
• Did the participants ask any questions?	Yes, and quite a lot. Yes, just a few. No, they didn't.
• What guides were they of­fered?	Latest tax guides. Latest project finance guides. Latest corporation tax guides.

3. Match English and Russian equivalents:

containing current tax rates	общая прибыль
containing tax saving hints	отчетный год
standard rate	налогооблагаемая выручка
small companies iate	налогооблагаемая прибыль
the tax rate is applicable to...	пороговая сумма уменьшается
total profits	иметь другие (ассоциирован­ные) компании
chargeable gains	содержать действующие ставки налогов
taxable profit	содержать информацию о легальных путях сокращения выплаты налогов
the threshold is reduced	обычная ставка
to have associated companies	ставка для малого бизнеса
accounts yeai	эта ставка применяется к...