- •Л. В. Бедрицкая английский для экономистов
- •Imply, convey, standpoint, overall, range, scarce, free, available, utility, rate, output, environment, artifact, discretion
- •Let’s read and talk
- •The economic system
- •Macro environment
- •The Interdependence of Society and Organizations
- •Types and forms of business organization
- •Why are companies referred to as ltd., inc., gmbh, or s.A.?
- •The field of international business
- •Art or science?
- •Principles of the management
- •Scientific management
- •Management by objectives
- •Management as a profession
- •Knowing yourself
- •Recruiting
- •Employee motivation
- •Case analysis
- •Problem solving
- •Meetings
- •During the meeting:
- •Ex.19. Translate the following text into Russian in written form. Managerial grid
- •Evolution of marketig
- •What is marketing?
- •The uniqueness of service
- •Branding
- •International marketing
- •Alternatives for international operations
- •Designing an international marketing program
- •Advertising in early western history
- •Advertising
- •Does advertising make us too materialistic?
- •Consumer behaviour from the advertising perspective
- •Public relations
- •The functions of money
- •Current measures of money
- •The world’s major currencies
- •Organizational structure of the federal reserve system
- •International banking
- •The regulation of international banking
- •Bretton woods
- •Career opportunities in banking
- •Money Laundering
- •Your Vocabulary Finance - management of money
- •Interest Rate
- •What is finance?
- •Capital
- •1. The funds the capital of a business consists of;
- •Inflation
- •Exchange rate
- •Taxation
- •Careers in finance
- •Insurance Companies
- •Accounting and auditing Your vocabulary
- •History of accounting
- •What is accounting?
- •Business documents
- •Main Street Store, Inc.
- •Financial accounting
- •Managerial accounting
- •The account
- •Types of account
- •Users of accounting information
- •The accounting profession
- •Ethical behaviour of accountants
- •Auditing
- •Types of audit
- •Techniques to begin your story
- •Techniques to end your story
- •Useful Vocabulary
Main Street Store, Inc.
Statement of Cash Flows
For the Year Ended August 31, 20XX
Cash flows operating activities:
Net income…………………………………….18,000
Add(deduct) items not affecting cash:
Depreciation expense……………………….4,000
Increase in accounts receivable………………80,000
Increase in merchandise inventory……………(170,000)
Increase in current liabilities…………………..67,000
Net cash used by operating activities………..161,000
Cash flows investing activities:
Cash paid for equipment………………………..40,000
Cash flows from financing activities:
Cash received from issue of long-term debt……50,000
Cash received from sale of common stock……..190,000
Payment of cash dividend on common stock…….5,000
Net cash provided by financing activities……….235,000
Net increase in cash for the year…………………………34,000
Good record keeping by a business is not only wise but is required by law. Legal and financial questions may be raised by various agencies, banks, and employees. The questions may be accurately answered when written records of business proceedings are kept. By recording daily transactions, the owner can learn from mistakes and avoid errors in the future. Even if profits are not distributed to shareholders, any organization needs a P&L to account for its activities to see whether it is being efficiently and honestly run.
1.What are the main business statements?
2.What do they show?
T E X T 5
Read the following two texts and be ready to differentiate between financial and managerial accounting.
Financial accounting
The classification of financial accounting transactions reflects the concern with two major interests in financial accounting. The first is addressed to the analysis of the profitability of the business. This is done normally on a yearly basis by comparing the sale and the purchase transactions and establishing the difference, with either a loss or a profit for the year. A profit will be shown when sale transactions are greater the purchase transactions during the year; a loss will be shown in the reverse case. In financial accounting, the operating cycle is conventionally treated as a period of one year. This suggests that the profit or loss is a short-term analysis of business activities.
The second major interest in financial accounting is directed to the analysis of those transactions having a long-term impact on the firm. These transactions include, on the one hand, investment transactions by which the firm acquires assets of potential use for more than one accounting period, and, on the other hand, financial transactions by which the firm obtains funds for use for more than one year.
Financial accounting brings together investment and financial transactions in a statement of the financial status, or structure, of the enterprise which is commonly known as the balance sheet.
T E X T 6