Exercises

1. Translate into Russian:
• balance sheet consolidated balance sheet balance sheet sample	• current assets current liabilities
• receivables payables	• shares share capital shareholder
• interest shareholder's interest minority interest total shareholder's interest	• earnings retained earnings
• cash loans inventories marketable securities	• current assets long-term assets total assets

2. Read all the numerals in the text as in the examples:

• Example	nineteen ninety seven
• Example
15,000 fifteen thousand (1,500,000 one million five hundred thousand)

• Example     • Example     • Example	11,800 eleven thousand eight hundred (11,800,000 eleven million eight hundred thousand)
6,920 six thousand nine hundred and twenty (6,9200,000 six million nine hundred and twenty thousand)
0,950 nine hundred and fifty (950,000 nine hundred and fifty thousand)

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:

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