- •Unit 2 financial management
- •2.1 Starting up
- •2.2 Look through the following vocabulary notes which will help you understand the text
- •2.3 Reading
- •2.4 Comprehension
- •2.4.1 Answer the questions using your active vocabulary
- •2.4.2 Mark these statements t(true) or f(false) according to the information in the text. If they are false say why.
- •2.5 Language practice
- •2.5.1 Match the English word combinations in the left-hand column with the definition in the right-hand column.
- •2.5.2 Complete the following text using suitable words or phrases from the box below.
- •2.5.3 Complete the text. Replace the Russian words and phrases by English equivalents.
- •2.5.4 Text for discussion.
- •2.6 Render the passage using English versions of the phrases given in Russian. Express the main idea of the passage in one sentence or entitle it.
Unit 2 financial management
2.1 Starting up
Financial management is one of the most important practices in management. The objective of financial management is to maximize the value of the firm. Sound financial management is essential in all types of organizations as well as in a country’s economy. It focuses on efficient use of the resources and encompasses budgeting, accounting, internal control, funds flow and auditing arrangements. Financial management is important for a country's development because it gives assurance to investors, creditors and citizens that the funds they provide and taxes they pay are used appropriately.
Discuss the following points
What’s the primary objective of financial management?
Why is financial management so important for successful business?
2.2 Look through the following vocabulary notes which will help you understand the text
1. acquisition |
поглощение (фирм), приобретение |
acquisition of capital |
приобретение капитала |
data acquisition |
сбор данных |
acquirev |
приобретать |
2. allocation |
отчисление, ассигнование |
allocation to reserves |
отчисления в резерв |
to cut allocations |
сокращать ассигнования |
income allocation |
распределение доходов |
allocate v |
размещать, ассигновать, отчислять |
3. fund |
запас, резерв, фонд |
long-term funds |
долгосрочный капитал |
outside funds |
привлеченные средства |
to be pressed for funds |
испытывать затруднения в средствах |
to raise funds |
привлекать финансовые ресурсы |
4. financing |
финансирование |
equity financing |
мобилизация капитальных ресурсов путем выпуска акций |
debt financing |
финансирование за счет займов |
to handle financing |
финансировать |
5. investment |
капиталовложение, инвестирование |
high-grade investments |
первоклассные инвестиции |
portfolio investment |
портфельные инвестиции |
intangible investment |
интеллектуальные инвестиции |
6. marginal |
предельный, маржинальный максимально эффективный |
marginal revenue |
предельный (добавочный ) доход |
marginal cost |
предельные (маржинальные) издержки |
marginal analysis |
маржинальный анализ, анализ по предельным показателям |
7. accrual system/principle |
система накопления(приумножения) |
accrual of interest |
приращение процентов |
tax accruals |
налоговые начисления, накопление налоговых сумм |
8. procurement |
приобретение, закупка, обеспечение, поставка |
procurement of funds |
привлечение, мобилизация капитала |
government procurement |
государственные закупки |
9. solvency |
платежеспособность |
financial solvency |
платежеспособность фирмы |
insolvency |
неплатежеспособность |
10. trade-off |
компромисс, уступка |
11. utilization |
использование, применение, pасходование |
capital utilization |
использование основного капитала |
rational utilization |
рациональное использование |
utilization of a budget |
исполнение бюджета (сметы) |
12. framework |
основа, структура, рамки |
within the framework of |
в рамках, в пределах |
social framework |
социальная структура |
formal framework |
формальная основа |