Ex. 3 Make sure you remember the following words. Pay attention to the sentences with these words to see how to use them correctly.

income – доход, приход (за какой-либо период)

revenue – доход, источник дохода, (множ.) доходные статьи.

receipts – денежные поступления, выручка, доход

earnings – заработок, трудовой доход, доход, прибыль,

поступления

Ex. 4 Building your business vocabulary is very important. Some new business terms introduced in this unit are printed below, along with definitions. Please match each with its proper definition after reading the texts of this unit.

a) asset b) liability c)owner's equity d) balance sheet e) capital stock f) retained earnings g) revenues h) expenses i) income statement g)current liability k) accounting.

1. A financial statement that shows what a firm owns, what it owes, and what the owner's equity is worth at a given point of time

2. A claim held by someone against a firm's assets.

3. A financial statement that summarizes revenues, expenses, and net profit or loss.

4. The original investment of the stockholder-owners.

5. The amount of resources used by a firm in the pursuit of revenues,

6. Whatever a firm, organisation, or person owns that has a dollar value.

7. The amount of cash or accounts receivable a firm receives in payment from others over a period of time.

8. The amount of a firm's assets minus the amount of its liabilities,

9. The profits the firm has plowed back into the firm.

10. A debt that will be paid off within a year of the balance sheet date.

11. The process of measuring, interpreting and recording data that reflect the financial condition of a firm.

Ex. 5 Based on the meaning of the following synonyms, choose the most appropriate word for making sentences with the phrases below e.g: Builders provide to their clients an estimate of construction costs before actually beginning the work.

Estimate – implies a judgement, considered or casual, that precedes or takes place of actual measuring or counting or testing out;

Appraise – commonly implies the fixing by an expert of the monetary worth, but may be used of any critical judgement;

Evaluate – suggests an attempt to determine either a relative or intrinsic worth of smth in terms other than monetary;

Assess – implies a critical appraisal for the purpose of understanding or interpreting, or as a guide in taking action.

· The ability of students for awarding rates.

· Real estate (at certain sum) for tax purposes.

· Damages (at certain sum) for preparing a lawsuit.

· The amount of income for completing tax returns.

· A person at their face value.

· The cost of work for negotiations with a client.

· The potential of an employee for a preliminary report to the management.

· The outcome of a proposed business strategy for reporting to a stockholders’ meeting

· The costs of an implementing a new production technique before a detailed analysis.

· A diamond for setting a price.

· A company for investment purposes.

· A business proposal for drawing up a contract.

Assignment to text 1:

1. Read the following abstract from the interview. Find answers to the following questions:

· What activity is the company involved in?

· What profession is described?

· What functions do employees of the company perform?

· What is the difference between an accountant, a book-keeper and an auditor?

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