english

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Hector Grant: “A representative of our Ministry of Works will be coming to London … obliged if you would book him accommodation ... glad to visit your factory and view the merchandise ... special requirements ...” Here what's this about 'special requirements'? What do they mean by that?

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Grant: I don't much like the sound of that. What do they mean by 'special requirements'? I suppose we'll soon find out. What's the method of payment?

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. Grant: Hmm! Is Peter happy about delivery dates?

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Grant: Well, you'll arrange some sort of meeting for us all then? Have you booked their representative into a hotel?

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Grant: All right. But you'd better find out more about the special requirements. It may be some condition we can't fulfil.

Exercise 3

Listen to the following extract from the conversation between Grant and John, which shows how the situation progressed after Mr. Mahawi, the government representative, arrived and was entertained royally. Try to complete the gaps, using no more than three words in each case.

Grant: A mahogany desk with … … … , secret drawer … … ! Leather top? Oh, really, John, what … … … does he think we are? Our business is mass-produced … … … !

John: I said we'd … … . It's for the … … … . They are prepared … … . It would be additional to … … … .

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Grant: Don't be ridiculous. We've dropped … … of line from … … . That was part of … … … .

John: Couldn't … … make it? Grant: That … … ?

John: Yes. He's … … … of the old school. Look at … … … he made …

…. You said at the time we introduced … … , during … … … , that

…… redundant Well, here's … … he can be … … on, and he'd be delighted to do it. He'd produce a magnificent … … … , it'd be the envy of all … … … and a splendid advertisement for us.

Grant: Well, you have committed us to it, so we must … … , I suppose.

Exercise 4

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

a)the advantages and disadvantages of the order under discussion for Harper & Grant Ltd.;

b)the requirements of the supplier as to the method of payment;

c)the special requirements of a buyer and the way the supplier managed to meet them;

d)measures taken in order to guard against a loss owing to currency fluctuations.

2.Recount the situation as if you were Hector Grant. Account for your choice of the terms of payment and delivery and the reason why you agreed to a lower price.

3.Suppose you are Mr. Mahawi, the government representative. You are making arrangements to order goods from Harper & Grant Ltd. Speak about the particulars of the quotation, the terms of payment and delivery.

4.Act out

a)a conversation between Mr. Mahawi and John Martin. Discuss the quotation, terms of payment and delivery. Try to bargain.

b.an imaginary talk between Mr. Mahawi and his Minister after the visit to Harper & Grant Ltd.

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 upset the balance of power

to postpone the possibility (of a takeover)

to be over-weighed with somebody / something to be tempted away by somebody

budgetary control

to introduce monthly accounting by cost centres to draw up quarterly accounts

to sound somebody out

to have everything one’s own way to balance somebody’s power

to put something forward the Rules of Association the qualification holding

to put somebody in the picture to offer somebody a directorship to be a counter to somebody

to draft (suitable) minutes about proposals

to table recommendations (on budgetary control) to give an outline of something

to do the accounts to reduce personnel

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Task I

Consider the introduction to the unit. Answer the following questions and be ready to give a story line. Use the word combinations in brackets.

1.What changes occurred in the structure of the capital of Harper & Grant Ltd. after Hector Grant postponed the possibility of a takeover?

(to buy two hundred and fifty more shares in the company; the remaining two hundred and fifty shares; the rather dynamic owner of a neighbouring mattress factory; to own a large proportion of the shares; be asked to join the Board)

2.In what way did the death of the Chairman, Ambrose Harper, upset the balance of power on the Board of Directors of Harper & Grant Ltd.?

(to become the next Chairman; the present members of the Board; Chairman and Managing Director; to be invited by the Board to become a director; to attend Board meetings; to leave somebody to act for somebody; the Company Secretary)

3.Why does Peter think it is high time John Martin was made a director? (to have a very successful year; to increase sales by almost forty per cent in the two years; to join the firm; to be an added support for himself; to be overweighed with somebody; to have an up-to-date outlook on business; to be tempted away by somebody; to make it worth somebody’s while to stay)

4.What changes in financial control does William Buckhurst initiate?

(to discuss budgetary control; to attended a course on something; to introduce monthly accounting by cost centres; to have information

about the company's trading position more accurately and more often than at present)

5. How does William Buckhurst explain the necessity of monthly accounts? (to be the forward plan; to spend, to make and to sell during a specific period; a record of what has actually been bought, sold and spent; to be drawn up every three months in a financial year; to discover the profits and losses more often to keep a firmer control; modern management)

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Task2

Give the English equivalents for the following word combinations:

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Task 3

Exercise 1

You are going to hear a talk between Peter Wiles and John Martin. Before you listen to the conversation look at these statements, which you will mark T (True) or F (False) after you have listened to the tape.

1.John Martin didn’t deny that Harper's death had caused a big change in the control of Harper & Grant Ltd.

2.Hector Grant is a strong personality and Harper couldn't have everything his own way while he was Chairman; Peter wanted to balance H.G.’s power a bit by having John on the Board.

3.John Martin was asked to join the Board now that he owned more shares.

4.Peter Wiles had a chance to get John elected, because H.G. wanted to strengthen his position in case A.Wentworth tried to make things go his way.

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Exercise 3

Act as an interpreter.

Grant: Now the next item on the agenda is to consider a report with recommendations tabled by you, William, on budgetary control. Perhaps you'd like to give us an outline of your proposals.

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, . Grant: At present the accounts are done every quarter.

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Grant: Well, if sales go down, we reduce stocks, which means cutting down purchases and, if necessary, we reduce personnel.

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Grant: What do you propose?

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Grant: What does all this mean?

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Grant: Will you let us have more details about this budgetary control, exactly how it would operate and so on?

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Grant: Now let's get on. The next item on the agenda is a recommendation that we buy two lorries for the Transport Department...

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Exercise 4

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

a)How could Ambrose Harper’s importance in the company be defined?

b)What are the advantages of J.Martin’s membership in the Board?

c)What do the Rules of Association drawn up by Harper and H.G.’s father state?

d)What are the reasons for Wentworth to be invited to join the board?

e)Prove that John Martin would be a useful counter to Wentworth.

2.Recount the situation as if you were Hector Grant.

3.Suppose you are Alfred Wentworth, are you satisfied with the situation in Harper & Grant Ltd. and the number of its shares you own? What do you plan for the future?

4.Give a lecture on the structure of the share capital in Harper & Grant Ltd. before and after Ambrose Harper’s death. (See Illustration 1 below)

5.Act out

a)a conversation between Peter Wiles and John Martin. Discuss the pro and contra of the introduction of monthly accounting by cost centres;

b.a talk between Hector Grant and William Buckhurst before the Board meeting about the changes in the board that are to be made.

Illustration 1

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 approve the accounts

to ensure that somebody is reporting correctly to be in private practice

to be exempt from having to publish the accounts

Profit Statement (a Trading and Profit and Loss Account) Balance Sheet

Director’s Report

to deduct overhead charges depreciation on plant and buildings the capital employed

issued share capital retained earnings fixed assets

trade investments

compilation of net current assets less liabilities

The totals must agree. current liability

stock valuation to go into things

to be listed as goods paid for

to find no/the record of payment

to buy something on a sale or return basis to make out cheques to somebody

to total up the value of the cheques to pay in the staff member’s cheques

to draw out an equivalent sum of cash with the cheque a withdrawal on the bank statement

a paying-in voucher for the date to be a fiddle

to query the figure

to draw somebody’s pay in advance

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Task I

Consider the introduction to the unit. Answer the following questions and be ready to give a story line. Use the word combinations in brackets.

1. What is the main task of the auditors?

(to approve the accounts of a limited company; to act on behalf of the shareholders; to ensure that the directors are reporting correctly; the state of affairs of the company; to judge whether the directors are managing the company efficiently; to judge for themselves)

2. Why has H.G. changed the firm auditing the firm’s accounts?

(to audit the accounts of Harper & Grant; to be in private practice as an accountant; to be appointed; a privately owned limited company; to be exempt from something; to publish accounts; to have the accounts audited by independent auditors; to be connected with the company)

3. What is W. Buckhurst responsible for?

(to be Company Secretary; to be responsible for something; the period in question; to be ready for checking; to make a bad impression; the accounts department; to supply immediately any information wanted by the auditors)

4. Which three documents are in the focus of the auditors’ attention?

(to be satisfied; the Profit Statement; the Balance Sheet; the Directors' Report; a Trading and Profit and Loss Account; to arrive at the profit for the year; to start with net sales or income; to deduct the cost of materials, work and overhead charges; to leave a trading surplus; depreciation on plant and buildings; auditors' fees; administration and selling costs; to produce the net profit or loss; a summarised statement; the amount of funds employed in the business; to derive the funds from some sources)

5. What does the Balance Sheet show?

(to list the capital employed; the issued share capital plus reserves and retained earnings; the total cost of fixed assets; trade investments; a breakdown of net current assets; cash and stocks, plus what the firm is owed by its customers, less its liabilities; to be shown as a trade investment; a current liability; an item in the compilation of net current assets)

6. Why is stock valuation a mixed blessing?

(to prepare accounts; to put a value on all goods in the hands of the company; to check against the suppliers' invoices; the value of commodities; to fluctuate; a company's stock; work in progress; finished stock; the volume of all stock is changing daily, if not hourly; to be taken at cost price or market price, whichever is the lower)