МІНІСТЕРСТВО ОСВІТИ І НАУКИ УКРАЇНИ

ХЕРСОНСЬКИЙ ДЕРЖАВНИЙ ТЕХНІЧНИЙ УНІВЕРСИТЕТ

КАФЕДРА ІНОЗЕМНИХ МОВ

МЕТОДИЧНИЙ ПОСІБНИК

“BUSINESS COMMUNICATION”

для проведення практичних занять

з англійської мови

для студентів 2, 3, 4 курсу

економічних спеціальностей

Херсон 2002

Методичний посібник для проведення практичних занять з англійської мови / Н.С.Фоменко, Т.М.Ревва, Л.М.Краснонос, Л.О.Долина, Н.С.Сіденко. – Херсон, ХДТУ, 2002. – 44 с.

Затверджено

на засіданні кафедри

іноземних мов

протокол № від 22.05.02

зав.кафедри _________Н.С.Фоменко

Відповідальний за випуск Н.С.Фоменко, к.філол.н., доц., завідувач кафедри іноземних мов

Вступ

Навчальний посібник “Business Communication” призначений для студентів всіх галузей знань всіх напрямів підготовки економічного факультету.

Посібник складається з 4 уроків (4 Units):

1. Management

2. Accounting

3. Marketing

4. Finance

Кожний урок містить тексти для читання та аудіювання з різних аспектів бізнесу, на базі яких формується вміння професійного спілкування. Система лексико-комунікативних вправ спрямована на засвоєння фахового стилю. З метою розвитку комунікативної компетенції в галузі усного мовлення пропонуються діалоги, рольові ситуації, а також проблемні завдання для проведення дискусій.

Матеріали посібника запозичені з оригінальної англійської та американської літератури з фаху студентів.

Unit I Management

I. Vocabulary

1. Study this word list:

to employ an employee primary staffing reporting to motivate skilled first-line manager middle-line manager top-line manager to operate interface workforce to supervise foreman supervisor office manager manager director department head division head ultimately entire chief executive officer executive director senior to establish humane resource to offer challenging socially satisfying

наймати на роботу службовець первинний укомплектування (штату) звітність мотивувати досвідчений керівник нижньої ланки керівник середньої ланки керівник верхньої ланки працювати взаємодія робоча сила спостерігати, наглядати виконроб особа середнього керівного персоналу, інспектор керівник контори директор розпорядник керівник відділу керівник підрозділу накінець весь головна керівна особа виконавчий директор старший установити людські ресурси пропонувати виклик престижний

II. Reading

2.Read and translate .

Text A

What is Manager?

Manager is a person employed to manage, i.e. to control or direct part or all of the work of other employees in a business, industrial concern or other organization. The four primary managerial functions are planning, organization, leadership and control. Other functions include staffing(personnel), directing, reporting and budgeting.

A good manager must know about the industry the firm is in and all the technological, political, competitive and social factors affecting that industry and what motivates them. Finally, a manager must be skilled in performing various managerial tasks, especially technical tasks, human relation tasks and communication tasks. He should develop verbal skills, writing skills, computer skills.

Managerial jobs in organizations fall into three categories: first-line, middle and top management.

Fist-line managers operate at the interface between management and the rest of the work force. They supervise and coordinate the activities by operating employees. Common titles of first line managers are foreman, supervisor and office manager.

Middle managers are directly responsible for the work of other managers below them. Many different titles are used for middle managers: manager, director, chief, department head and division head. Middle management is probably the largest group of managers in most organizations.

Top managers are ultimately responsible for the entire organization. Top-level managers are few in number, their typical titles include: chief executive officer (CEO), president, executive vice president, executive director, senior vice president. Top managers establish the organization’s goals, overall strategy and operating policies.

Managers at different levels may work in various areas within an organization. In any given firm, there may be marketing, financial, operation, human resource, administrative and other kinds of managers.

It should be added that today management offers interesting, challenging, well-paid and socially satisfying careers.

III. Comprehension

3. Answer the questions:

1. What is manager?

2. What does a manager do in a business?

3. What are the primary managerial functions?

4. What does the function of planning consist of?

5. Is it necessary for a manager to know about the industry the firm is in? Why?

6. What is included in computer skills?

7. What categories do managerial jobs fall into?

8. What are the responsibilities of the first-line manager?

9. Who is responsible for the entire organization?

10. What does top managers do?

11. What positions can they occupy?

4. Say whether these statements are true or false. If they are false say why. While answering use these phrases:

I agree to it To my mind

Exactly so As far as I know

Absolutely To the best of my knowledge

I guess

1. It is not necessary for a good manager to know anything about the industry he works in.

2. The primary functions of managers are: planning, organization, leadership and control.

3. A manager should be a good speaker.

4. Managers don’t need to know computers, there are people, who can do this job for them.

5. The most important manager at an enterprise is a foreman.

6. The largest group of managers in most organizations is top management.

7. Chief executive officers belong to the group of middle managers.

8. Managers should possess many different skills such as: dancing, singing, entertaining people.

9. Middle managers can occupy positions of manager director, department head, division head, manager director.

IV. Language

5.Match words in column a with their definitions in column b. Try to remember these definitions.

A Manager Planning Top management Management Top management Staffing Directing Organizing Controlling

B getting other people to work to achieve the objectives of the organization; an executive who organizes other people to work to achieve the companies goals; getting the right people on the organizational team; management function which involves checking to determine whether or not an organization is doing well; management function which involves anticipating future trends and determining the best strategies and tactics to achieve company’s objectives; highest level of management who develop company’s strategic plans; creating conditions and systems that ensure that everyone and everything work together to achieve company’s goals; guiding and motivating others to achieve company’s goals; highest level of management who develop strategic plans

6. Make up the possible word combinations out of the following and translate them:

functions tasks managers jobs relations resources director career factors

managerial primary middle first-level skilled human different top financial executive well-paid

V. Oral Practice

1. Draw a chart of managerial hierarchy;

2. Discuss the responsibilities of managers of different levels;

3. Speak on the positions managers of different levels can occupy;

4. Suggest the description of the typical management structure of a company using text A and all the information you have on the subject;

VI. Comprehension

8. Listen to the text b. First be sure you know the words:

to reprimand – вичитувати

to behave – вести себе

to witness – бути свідком, бачити

to coach – навчати

rather than – а не

to encourage – заохочувати

to mingle – змішуватись (з натовпом)

Text B

Management is the art of getting things done through people and other resources. At one time managers were called bosses, and their job was to tell people what to do and watch over them to be sure they did it. Bosses tended to reprimand those who didn’t do things correctly. Many managers still behave that way. Perhaps you have witnessed such managers getting at employees at fast-food restaurants or on shop floors.

Today, management is changing from that image. Managers are being trained to guide and coach employees rather than to boss them around.

In general, therefore, management is experiencing a revolution. A new concept called management by walking around encourages managers to get out of their offices and mingle with workers and customers.

Managerial careers demand a new kind of person. That person is a skilled communicator as well as a planner, co-ordinator, organizer and supervisor.

The important thing to remember is that no one is born with management knowledge. People who wish to have a career as a manager study the discipline of management as a means towards practicing the process of management.

9. 1) Answer the questions:

1. What is management according to the text?

2. What were managers called at one time?

3. What were their jobs?

4. Are there still managers who behave like this?

5. Where can such managers be witnessed?

6. How are managers trained nowadays?

7. What does a new concept management by walking around “expect” managers to do?

8. Do you agree with the statement that no one is born with management knowledge? Prove your opinion.

2) Summarize the main points of the text.

VII. Reading

10. Read attentively Texts c and d.

Text C

Management

Management is a group of people in a business who have overall responsibility for operating the business and for achieving the company’s goals. Business enterprises have many goals. These goals include providing quality goods and services at low cost, creating new and improved products, increasing the number of jobs available, improving the environment, and accomplishing many other social tasks. To achieve these goals , of course, the company must be successful. Success and survival in a tough, competitive business environment require that management concentrate much of its effort on two important goals: profitability and liquidity. Profitability is the ability to make enough profit to attract and hold investment capital. Liquidity means having enough profit to attract and hold investment capital. Liquidity means having enough funds on hand to pay debts when they fall due. Managers must constantly decide what to do, how to do it and whether the results match the original plans. Successful managers consistently make the right decisions on the basis of timely and valid information.

Text D

Meaning of Management

The term management can have different meanings. You may not be able to define management exactly; it is a process involving certain functions and activities that managers must perform.

Management is a subject with principles, concepts and theories. Management is the process undertaken by one or more persons to co-ordinate the activities of other persons to achieve results not attainable by any person acting alone.

There are probably as many definitions of management as there are books on the subject. Many of the definitions are relatively concise and simplistic. For example, one early writer defined management as “knowing exactly what you want people to do, and then seeing that they do it in the best and cheapest way”. As you see, management is a complex process, much more complex than the definition leads us to believe. Thus, we need to develop a definition of management that captures the true nature of its complexities and challenges.

Management can be defined as follows: management is a set of activities, including planning and decision making, organizing, leading and controlling, directed at an organization’s human, financial, physical and informational resources, with the aim of achieving organizational goals in an efficient and effective manner.

11. 1) Say how many definitions of management are given in each text.

2) Read these definitions, compare them and say which of them is more appropriate and full, substantiate your opinion.

3) Take the most important points from all of them and compile your definitions of management . Write it down and try to memorize it.

VIII. Oral Practice and Writing

12. Read and act the following dialogue:

(Anna is having lunch with her sister Barbara. Anna has just accepted a position as an Administrative Assistant. Her boss is an executive with a firm that manufactures heavy machinery used in construction.)

B: You’re got a new job, Anna. My congratulations.

A: Thanks, Barbara.

B: Tell me a few words about your boss. What does he do?

A: Well, he is one of the vice-presidents of the company, so he’s rather important. He is an executive.

B: Do you know the difference between an executive, a manager and an administrator?

A: I am afraid I can hardly tell you the difference, I think these words are interchangeble and they really aren’t different in many companies.

B: What about your company?

A: In our company the top officers are called administrators. The next highest group – the vice-presidents, the heads of major departments and branch plant managers – are executives like my boss.

B: Is that all?

A: The group below consists of managers, they are general managers and foremen.

B: So I see that an organization has a member of positions and some people have more authority than others.

A: You are right.

B: But it would be interesting to know more about the functions of an executive like your boss.

A: I’d say he makes a lot of important decisions. He sets objectives, coordinates work, delegates authority, makes hiring, firing, evaluation and just general leading.

B: It seems to be important.

A: It is important. It’s evident that making careful decisions is the basis of good management.

B: But do you work under much pressure?

A: Barbara, you know I am quite used to working under pressure from my last job. I am also accustomed to lots of paper work and red tape.

B: Good for you.

A: And what’s more important I feel that I can learn a lot because my boss is very competent.

B: Good, I think we’d be in a hurry not to get late for the work.

Active Vocabulary

an executive a manager an administrator a vice-president a head of department a foreman a position to set objectives to delegate authority to work under pressure red-tape to be competent

керівник, адміністратор управляючий управляючий, адміністратор віце-президент керівник відділу майстер, керівник посада ставити ціль розподіляти обов’язки працювати з примусу бюрократична, канцелярська робота бути компетентним

13.Answer the questions, arrange them in the form of dialogue using conversational formulas: And what about you? In my opinion…

Do you agree with me? Oh, I can’t agree with you here

As for me … It’s difficult to give an answer to …

Really? I would answer that …

1. What working position is the best for you?

2. Do you feel like working under pressure?

3. Would you like to get a red-tape job?

4. Do you want to be an executive or an administrator of a big company? What should you do for it?

5. What qualities do you need to be an executive of the company?

6. What does it mean to be a competent manager?

14. Role play dialogues based on the following situations:

1) Your executive is a very tough man. What would you advise your co-worker to do to pleasure him:

For ideas:

to be creative to be well-organized to keep fit to be punctual to be enthusiastic to obey the rules

мати творче відношення до справи бути добре організованим держати себе в формі бути пунктуальним бути ентузіастом підкорятись правилам

2) Your friend a would be manager asks you to advise him what skill he will need to develop to be a good manager

For ideas:

verbal skills - the ability to give talks, conduct meetings, make presentations

writing skills – to communicate through memos, reports and letters; to take courses in grammar and composition

computer skills – to be able to compose on a word processor and send messages electronically

human skills – to be able to work with others, to work as a team

Don’t forget about conversational formulas:

Well, to tell you the truth, I’d expected that …

Do you really think so?

That’s really disappointing!

I can never thank you enough

Is there anything I can do for you?

How are you getting on

Talking about …

I’m at my wits’ end …

15. Render into English

1.Існує багато визначень, що таке менеджмент. 2. З однієї сторони, менеджмент це діяльність, яка скерована на планування, організацію, керівництво роботою підприємства. 3.З другої сторони – це група людей, яка виконує ці функції в організації. 4. Одна із головних задач менеджменту – це вміння намітити ціль спрямовану на отримання прибутку. 5. Крім того, менеджер повинен простежити, направити і стимулювати працівників компанії на досягнення цієї цілі. 6. Кожна організація має цілий штат менеджерів різного рівня: верхнього, середнього і нижнього. 7. Менеджери нижнього рівня працюють безпосередньо зі службовцями та робітниками. 8. Їх називають бригадирами, наглядачами, майстрами. 9. Менеджери середньої ланки – це керівники відділів та начальники, що відповідають за діяльність своїх підлеглих.10. Це найбільш численна група менеджерів в організації, чим більша організація, тим більше менеджерів середньої ланки. 11. Головні управляючі – це люди, що відповідають за всю організацію і приймають рішення. 12. Менеджери верхньої ланки – це президент і віце-президенти. 13. Щоб стати менеджером потрібно багато знати: галузь, в якій ти збираєшся працювати, економічні науки, менеджмент. 14. Необхідно розвивати багато умінь та навичок. 15. Наприклад, вміння спілкуватися з людьми, вміння грамотно писати, вміння працювати з комп’ютером, постійно підвищувати свій професійний рівень. 16. Кажуть, що менеджером не народжуються. 17. Вмілим керівником можна стати, якщо наполегливо працювати. 18. Як говориться в англійському прислів’ї : “If there is a will, there is the way”. 19. Крім того професія менеджера може запропонувати вам добре оплачувану, цікаву, престижну кар’єру, що постійно вимагає прийняття неординарних рішень.

16. Look attentively at this table, which is a description of the typical management structure of a company. Suppose, you are given the possibility to choose any position you like. What would you choose? Say: Why? Warning: Try to be as objective as possible. Do you best to prove that you are the right person for this position.

The description of the typical management structure of a company

18. Summarize all the information given in the texts of this unit, exercises, dialogues and situations according to the plan:

1. What is management?

2. What is manager?

3. What are the main functions of a manager?

4. Managers of different levels

5. Functions of managers of these levels

6. How can one become a manager?

7. What should managers learn and know?

8. What skills should manager master to be successful?

19. Write a composition using the points mentioned above as a plan.

Unit 2

Accounting

I. Vocabulary

1. Read the words and word combinations:

decision making cost of products to assist cost accounting to comply to prevent fraud cost control to comply with tax laws promotional tool to compare with favorably major expenses to spend (spent) broad view chairman of the board evaluation to keep up with to enable inventory control customer records payroll invaluable lender supplier bill annual report statement to loan to afford invoice slip attest functions to verify inventory to reduce suggestion to compile

прийняття рішення витрати виробництва допомогати врахування витрат виробництва відповідати запобігати шахрайству контроль за рівнем утримок підпорядковуватися податкове законодавство стимулюючий механізм порівнювати сприятливо основні витрати витрачати глибоке бачення голова правління оцінка не відставати від надавати можливість контроль за матеріалами облікові документи клієнтів фонд заробітної плати неоцінний кредитор постачальник рахунок до оплати, вексель річний звіт звіт давати позику, позичати дозволяти рахунок-фактура розписка ревізорська діяльність підтверджувати опис матеріальних цінностей скорочувати пропозиція становити, складати, укладати

II. Reading

1. Read and translate the text a Managerial Accounting Financial Accounting

Accounting is the language of business. It is the recording, classifying, summarizing, and interpreting of financial events and transactions to provide management and all users the information they need to make better decisions. Accounting can be divided into two major categories: managerial accounting and financial accounting.

Managerial accounting is used to provide information and analyses to managers within the organization to assist them in decision making. Managerial accounting is concerned with measuring and reporting costs of production, marketing, cost accounting. Management accountants also set up a system of internal control to increase efficiency and prevent fraud in their companies.

They aid to profit planning and cost control. It is their duty to see that a company has good records, prepares, proper financial reports and complies with tax laws and government regulations.

The questions that Managerial accounting reports are to answer include the following:

• What goods and services are selling the most and what promotional tools are working best?

• How quickly are we selling what we buy, and how does that compare with other firms in the same industry?

• How much profit is the firm making and does that compare favorably with other firms? If not, why not?

• What are our major expenses and are they in line with what other firms spend?

• How much money are we paying in taxes, and how can we legally minimize that amount?

Because of their broad view of all aspects of a company’s operations management accounts often have an important effect on management decision making.

Thus Managerial Accounting information is essential to the decision-making system because it provides quantitative information for three functions: planning, control and evaluation.

Management Accounts are known to keep up the latest developments in the uses of computers. Computers make record keeping 100% easier and enable company owners to follow the progress of the business (sales, expenses, profits) on a daily basis, if necessary. Computer system helps with inventory control, customer records and payroll. A good accountant is invaluable in setting up such systems and showing you how to keep the system operating smoothly. Many business failures are caused by poor accounting practices.

Financial accounting differs from managerial accounting because the information and analyses are for people outside the organization. This information goes to owners and prospective owners, creditors and lenders, suppliers, government units and the general public. These external users are interested in the organization’s profits, its ability to pay its bills and other financial information. Much of the information is contained in the annual report, a statement of the financial condition and progress of the organization. Financial accounting reports answer such questions as following:

• Has the company’s income been satisfactory?

• Should we invest in this company?

• Should we loan in this company? Will it be able to pay the money back?

• Can the company afford to raise its salaries?

Now we hope you are getting the idea that accounting is critical to business and to anyone who wants to understand business.

2. Find in the text sentences where the following words and word combinations are used. Translate these sentences:

Transactions, decision making, cost accounting, to prevent fraud, tax laws, payroll, lenders, to loan.

III. Comprehension

1. Answer the questions using information from the text:

1. Could you define accounting to a friend so that he or she would clearly understand what is involved?

2. How can accounting be divided?

3. What is the purpose of managerial accounting?

4. What does managerial accounting deal with?

5. What questions do managerial accounting reports answer?

6. Can you explain the difference between managerial and financial accounting?

7. What questions do financial reports answer?

2. Say whether these sentences are true or false. If they are false say why. Add the phrases:

1. I agree to it

2. I think so too

3. Exactly so

4. I can’t agree to it

5. I don’t think so

6. Just on the contrary

7. As far as I know

1. Management accountants give management the information it needs to make wise decisions.

2. The purpose of financial accounting is to check and examine accounting records and financial statements.

3. Computers enable company owners to follow the progress of their companies.

4. An annual financial report is a statement of the financial condition and progress of the organization.

5. Accountants help in profit planning, budgeting and marketing.

6. A company will stay in business if it has good records, prepares proper financial reports and complies with tax laws.

7. Many business failures are caused by lack of cash at the end of the year to pay their bills.

IV. Language

1. Match the definitions to the economic terms in the left column:

managerial accounting fraud budget management bookkeeping profit annual report financial accounting salary an accountant an owner transaction

the recording of business transactions; usually monthly payment for regular employment on a yearly basis; the surplus excess of returns over expenditure a piece of business; the preparation of financial statements for people outside the firm (e.g. investors); a financial plan that allocates resources based on projected revenues; a person who owns smth.; a person whose profession is to keep and examine business accounts; criminal deception a group of people who run a business; the provision of information and analyses to managers within the organization to assist them in decision making; statement of the financial condition and progress of the organization during one given year.

2. Fill the blanks with the suitable words:

1. The duty of management accountants is to see that company has good ...

(reputation, records, bonuses)

2. Managerial accounting is used ... information and analyses to managers within the organization

(to correct, to translate, to provide)

3. They aid in budgeting, ... planning, cost control and in preventing fraud.

(profit, tax, expense)

4. It’s not easy thing to prepare proper ... for the company.

(promotional tools, decisions, financial reports)

5. More ... business executives have backgrounds in accounting and finance than in any other field.

(clever, qualified, top level)

3. Complete the sentences:

1. Managerial accounting is used to provide information and analyses to managers ...

2. Management accountants also set up a system of internal control to ....

3. His report answers the questions what goods and services ... and what...?

4. Computers enable company owners to ...

5. Financial information goes to owners ...

6. The annual report contains the information which is essential to the decision making system because ...

7. Many business fail because ...

V. Oral Practice

1. Retell the text A using this plan:

1. What is accounting?

2. Two major categories of accounting.

3. What is managerial accounting concerned with?

4. How do managerial accountants affect decision making?

5. Who uses the information of financial accounting?

6. What questions do financial accounting reports answer?

7. What is the annual report?

1. Reading

1. Read and translate the text B

Public Accounting

1. Many countries use the services of Certified Public Accountants to protect the public by ensuring a high quality of professional service.

2. The work of public accountants is varied, complex and interesting. Most accounting firms organize themselves into several principal areas of specialization, which may include 1)auditing, 2)tax services, 3)management advisory services and 4)small business services.

3. The most important and distinctive function of a certified accountant is auditing (also called the attest function), which is the examination and testing of financial statements. All public corporations and many companies that apply for sizable loans must have their financial statements and records audited by an independent public accountant.

4. An audits purpose is to give the auditor’s professional opinion as to whether the company’s financial reports fairly present its financial position and operating results. Auditors check and test the accounting records if necessary to satisfy themselves about the quality of the financial statements. They must prove cash balance, confirm physical inventories and verify the amounts owed by customers. Auditors must also decide if there are adequate controls and if the company’s records are kept in accordance with accepted accounting practices.

5. In the area of tax services public accountants assist businesses and individuals in preparing tax returns and complying with tax laws. They also help plan business decisions to reduce taxes in future. Tax accounting work calls for much knowledge and skill regardless of the size of a business. Few business decisions are without tax effects.

6. A growing and important pail of most public accounting firms’ practice is management advisory services or consulting. With their deep knowledge of a business’s operations auditors can make important suggestions for improvements.

7. Many small businesses look to their CPA for an advice on operating their businesses and keeping their accounting records. CPA might provide such services as setting up or revising an accounting system, compiling monthly financial statements, preparing a budget of cash needs over the next year and assisting the client in obtaining the bank loan.

2. Look through the text and find the terms which mean the following:

1. the art of analyzing the financial position and operating results of a business;

2. an officer who is in charge of the accounts;

3. an examination and testing of financial statements;

4. certified public accountant;

5. management consulting services;

6. a charge imposed by government authority upon property individuals or transactions to raise money for public purposes;

7. to act in accordance with wishes, requests, commands, requirements or conditions;

8. the classifying, recording, and analyzing in a systematic manner the cost of materials, labor, and overhead charges (expenses) involved in a company’s production or its rendering of a service;

2. Language

1. Match English words or phrases in column A with corresponding Russian ones in column B

public accounting certified public accountant auditing fee management advisory services credible financial report sizable loans tax services operating results prove cash balance confirm physical inventories verify the amounts owed by customers adequate control accepted accounting practices tax returns complying with tax laws cost accounting obtain a bank loan

а) у відповідності з податковим законодавством; b) достовірний фінансовий звіт; c) результати діяльності; d) податкова декларація; e) незалежний бухгалтерський облік; f) ревізорські послуги; g) винагорода; h) послуги в сфері винагороди; i) облік витрат виробництва; j) загальноприйнята бухгалтерська практика; k) дипломований бухгалтер вищої кваліфікації; l) одержувати банківську позику; m) задовільний контроль; n) консультаційні послуги в області управління; o) крупні позики; p) перевіряти запас готівки; r) перевіряти засоби, які підлягають виплаті з боку клієнта; s) підтверджувати перепис матеріальних цінностей;

2. Make up the possible word combinations out of the following and translate them:

accounting important certified professional attest auditing financial public physical advisory cost business

decision accounting service inventories position reports corporation statements plan public accounting function system purpose

3. Reading

1. Skim the text B again and match the list of titles to the correct paragraph:

1. Auditing Functions;

2. Tax Services;

3. Small Business Services;

4. CPAs;

5. Management Advisory Services;

6. Fields of Audits’ Specialization;

7. Auditing

IV. Oral Practice

1. Discuss the following:

1. What are the principal areas of specialization of accounting firms?

2. How does public accountant differ from management accountant?

3. Describe in general terms the requirements of the four major activities of CPAs.

4. Agree or disagree that the auditor must be a suitably qualified professional accountant. Prove your point of view.

5. Prove that auditor mustn’t be an officer of a company.

I. Comprehension

Text C

1. Look through these words trying to remember them:

insight – розуміння

to interpret – пояснювати значення чого-небудь

sales slip – торгова квитанція

purchasing documents – документи про продаж

shipping documents – завантажувальні документи

payroll record – платіжна відомість

ledger – гросбух

Then listen to the text “Bookkeeping”

Bookkeeping

Bookkeeping involves the recording of business transactions. It is a rather mechanical process and does not demand the financial training and insights of accounting. Bookkeeping is an important part of accounting, but accounting goes far beyond the mere recording of data. Accountants classify and summarize the data provided by bookkeepers. They interpret the data and report them to management. They also suggest strategies for improving the financial condition and progress of the firm. Accountants are especially valuable for income tax preparation and financial analysis. If you were a bookkeeper, the first task you would perform would be to divide all of the firm’s paperwork into meaningful categories. These categories would probably include the following:

• Sales documents (sales slips, cash register receipts and invoices)

• Purchasing documents

• Payroll records

• Bank documents (checks, deposit slips)

• Various expense documents

Then it is necessary for the bookkeeper to begin recording the data from the original transaction documents into record books called journals. Journals are the books where accounting data are first entered. Some of these journals are also called ledgers.

Nowadays computers can greatly help both accountants and bookkeepers in doing their job properly.

2. Answer the questions:

1. What do bookkeepers do ?

2. What do accountants do?

3. What is the difference between a bookkeeper and an accountant?

4. Which of them needs more training and why?

5. Can an accountant do the job of a bookkeeper and vice versa?

6. Where do bookkeepers record the data from original transaction documents?

7. What achievements of science and engineering can help both bookkeepers and accountants in doing their job?

II. Oral Practice

1. Read and act the following dialogue:

I – Hi, Alec. How are you?

A – Fine, thanks. How are you?

I – I’m fine too. I thought if you could give me a piece of advice.

A – Sure, if I can. Go ahead.

I – Well, you know I want to start my own business.

A – Sounds great. What are you going to produce?

I – Table and bed linen. You know , my wife and daughter are very good at sewing. I’ll see to supplies and sales.

A – And who will keep accounts?

I – Well, is it so important?

A – Oh, yes. You see, many businesses have failed because of the lack of proper accounting system.

I – Oh , what should I do? I’ve no money yet to hire an accountant.

1. Don’t worry. You can call a consulting firm and they will give you any advice you need. Put down the telephone number 226535.

I – Thank you.

A – Anytime.

2. Make up your own dialogues based on that one using expressions:

1. to give smb. a piece of advice;

2. to start one’s own business;

3. many businesses have failed;

4. the lack of proper accounting system;

5. to call a consulting firm;

6. to put down the telephone number

Don’t forget about conversational formulas:

Could you tell me Personally I think

I’d like to know As I see it

By the way It seems me

Really In my opinion

3. Role play the following situations

Situation 1 Керівник і бухгалтер розмовляють про проблеми своєї фірми. Керівник просить бухгалтера підготувати звіти як можна швидше, цікавиться скільки фірма повинна заплатити податків. Бухгалтер говорить, що він вже підготував звіти про те, які товари продаються найкраще, що прискорює їх продаж і він знає як мінімально знизити податки законним шляхом. Situation 2 Абітурієнт, який вступає на вашу спеціальність в університет просить вас розповісти про те, що таке бухгалтерський облік. Він хоче знати чим йому доведеться займатися. Situation 3 Вчора Ви переглянули діловий канал по телебаченню і розповідаєте своєму другові, що в передачі йшла мова про роль комп’ютерів в обліку. Ваш товариш цікавиться в яких сферах обліку особливо корисний комп’ютер

Keywords: To prepare records, as soon as possible, promotional tools, to work best, to pay in taxes, to minimize legally recording, classifying, summarizing, financial transactions, buying, selling goods, computers, financial statements, annual reports, consulting, wise managerial decisions, set up accounting system, unvaluable to see a business program on TV, to make record keeping easier, inventory records, payroll.

Topic “My Speciality is Accounting”. An accountant should acquire the knowledge and skills to participate in important economic decisions.

Say some words using the plan:

Plan

1. What is accounting?

2. 1. What subjects do students study to become a good accountant?

2.Which of them are your favourite subjects?

3. What kind of diplomas can students get after fourth and fifth year of study?

3. The two categories of accounting.

4. Managerial accounting:

1. assistance in decision making;

2. setting up an accounting system and a system of internal control;

3. profit planning, budgeting;

4. proper financial reports;

5. taxes;

6. questions that managerial accounts answer;

5. Use of computers

6. Financial Accounting:

1. people, who use the information of financial accounting;

2. questions ,which financial accounting reports answer;

7. Difference between bookkeepers and accountants.

8. CPAs

1. principle areas of specialization:

1. auditing;

2. tax services;

3. management advisory services;

4. small business services

9. The importance of accounting system for a successful business organization.

Time for Fun

And now try to solve this crossword:

1	9								10
									8
2						3
4				5
			6
									7

Across

1. A professionally trained person whose job is to keep and check the financial records of an organizations.

2. Human resource management.

3. A document or note in a passport, that allows the holder to enter a country.

4. European Economic Community.

5. To give up a job or position.

6. A sum of money paid regularly by the state to people above a certain age and to widowed or disabled people, or by an employer to an employee who has retired.

7. A thing that is given willingly and without a payment.

8. The possibility of loss or damage, esp. of money, property.

Down

9. The coins and banknotes that belong to a particular country

10. The process of teaching someone to do a job or learning to do a job.

Unit 3 Marketing

Words and word combinations:

marketing marketing mix pricing branding promotion objective publicity word-of-mouth medium (media – pl.)

маркетинг (вид діяльності направлений на задоволення потреб через обмін) комплекс маркетингу ціноутворення маркування просування (товару на ринку) тут. ціль гласність свідоцтво на користь товару засоби інформації

I. Reading

1. Read the text a. Translate it with a dictionary. Text a “Marketing principles”

Marketing has become a major focus of business in the 1980s, and will continue to be. The success of the economy depends on business’s ability to market.

Then markets must do whatever it takes to satisfy wants and needs. The ultimate goal is to make money (profit) by producing and selling goods and services. Marketing, then, can be defined as follows:

Marketing is the process of studying wants and needs by exchanging goods and services; this results in satisfied buyers and creates profits for sellers.

Marketing managers work with several variables known as the marketing mix. A marketing mix is the strategic combination of product decisions on packaging, pricing, distribution, credit, branding, service, and other marketing activities.

Traditionally the important elements that make up the “marketing mix” were defined as the four P’s :

Product (quality, product range, packaging)

Place (where product is available and how it is distributed)

Promotion (how the potential consumers should be reached and how the company should push its products)

Price (credit)

Over the past twenty years, the steady growth of service based companies has emphasized other factors which are equally important :

people (the involvement of staff will be crucial for most service based companies)

process (the way in which the service is provided)

physical (the environment in which the service is provided)

In the 1870s markets broadened the scope of their activities to include the marketing of non-business organizations. No longer is the objective simply “to find individual needs and fill them”. Rather, the goal is to meet the broader needs of society as well.

The marketing of goods and services to manufacturers, institutions, commercial operations is called industrial marketing.

Some of the things that make industrial marketing different are as follows:

1. The demand for industrial goods is relatively inelastic; that is , the demand does not always change significantly with minor changes in price.

2. The market for industrial goods is a derived demand.

3. The number of customers in the industrial market is relatively few.

4. The size of industrial customers is large.

5. Industrial markets tend to be concentrated.

6. Industrial buyers are more rational.

7. Industrial sales tend to be direct.

Industrial markets are often more complex than consumer markets because the products are sold many times before they reach the ultimate consumer.

Be sure to consider industrial marketing when you evaluate marketing careers.

II. Language

1. Give translation equivalents for:

to satisfy wants and needs;

a major focus;

business’s ability to market;

scope of activities ;

a derived demand;

minor changes;

rational;

ultimate consumer;

crucial;

service based companies;

2. Look through the text a and find in it the concepts which mean the following:

1. the process for studying wants and needs and satisfying those wants and needs by exchanging goods and services;

2. the marketing of goods and services to manufacturers, institutions, commercial operations;

3. to make money by producing and selling goods and services;

4. the strategic combination of product decisions on packaging, pricing, distribution, credit, branding and other marketing activities;

5. elements of the “marketing mix”

3. Make up correct word combinations out of the following:

Marketing, demand, needs, goal, organizations, to satisfy, mix, consumer, non-business, ultimate, industrial, inelastic, markets, careers.

4. Analyze the sentences and translate them:

1. Industrial markets are often more complex than consumer markets because the products are sold many times before they reach the ultimate consumer.

2. No longer is the objective simply to “find industrial needs and fill them”…

3. Then markets must do whatever it takes to satisfy wants and needs.

4. Rather, the goal is to meet the broader needs of society as well.

5. Fill in the blanks using the words and phrases from the bottom:

1. The ultimate goals is______ by producing and selling ______.

2. The success of business and thus the success of the economy depends on ____ to market.

3. Marketing managers work with several _______ known as the marketing _____.

4. Over the past twenty years , the steady growth of ______ has emphasized other factors .

5. In the 1870s markets broadened _______ of their activities.

6. But the strategies of industrial marketing are _______ because the buyers are _____.

___________________________________________

mix, the scope, goods and services, the business’s ability, different, variables, to make money, service based companies.

6. Complete the sentences:

1. Marketers must do whatever it makes to satisfy ….

2. Marketing is the process …

3. A marketing mix is the strategic combination of ….

4. Traditionally the important elements that make up the “marketing mix” were defined as

5. Industrial marketing is …

6. The number of customers in the industrial market is …

7. The demand for industrial goods is …

8. Industrial markets tend to ….

9. Industrial sales tend to …

I. Reading

1. Read the text b “Advertising” and say what problems are mentioned in the text.

Text B

Advertising

Most people do not understand the difference among promotional tool such as advertising, personal selling, publicity, and word-of mouth. Advertising is limited to paid, non-personal communication through various media by organizations and individuals who are in some way identified in the advertising message. Word-of-mouth is not a form of advertising because it does not go through a medium, it is not paid for. Personal selling is face-to-face communication and does not go through a medium; thus it is not advertising. Note also that advertising may be used by anyone, including non-profit organizations. Furthermore, advertising is different from propaganda in that the promoter is identified.

People have the false impression that advertising is not very informative. But the number one medium, newspapers, is full of information about products, prices, features and more.

Does it surprise you to find you that business spend more on direct mail than on radio and magazines? Direct mail (the use of mailing lists to reach on organization’s most likely customers) is also very informative and a tremendous shopping aid for consumers. Each day consumers receive mini-catalogues in their newspapers or in the mail that tell them what is on sale, at what price, for how long, and more. Thus advertising is informative.

The public benefits greatly from advertising expenditures. First we learn about new products, new features, sale items, and more. But we also benefit from radio and TV and subsidized newspapers and magazines. In short, advertising not only informs us about products but pays for us to watch TV and get the news from magazines and newspapers.

Different kinds of advertising are used by various organizations to reach different “publics”. Some major classes include:

Retail advertising – advertising to customers by various retail stores such as supermarkets and shoe-stores.

Trade advertising – advertising to wholesalers and retailers by manufactures to encourage them to carry their products.

Industrial advertising – advertising from manufacturers to other manufacturers. A firm selling motors to automobile companies would use industrial advertising.

Institutional advertising – designed to create an attractive image for an organization. “We Care About You At Giant Food “ is an example. “Virginia is for lovers” and “I  New York” are two institutional campaigns by government agencies.

II. Comprehension

1. Agree or disagree:

1. Advertising, personal selling, publicity, word-of-month are promotional tools.

2. People have the right impression that advertising is not very informative.

3. Newspapers are full of information about products, prices and more.

4. Advertising is limited to paid, non-personal communication through various media.

5. The public doesn’t benefit greatly from advertising, expenditures.

6. Different kinds of advertising are used by various organizations to reach different “publics”.

2. Find key-words and expressions to speak about:

1. What is advertising and what is not?

2. Advertising media.

3. Advantages of advertising.

4. Classes of advertising.

III. Practice

1. Prove that :

1. Personal selling and word-of-mouth are not advertising

2. Advertising is informative.

2. Use the points of ex.2 (II. Comprehension) as the plan to speak on advertising.

I. Reading

1. Skim for 8 minutes the text C to understand what it is about. Render it in Russian/Ukrainian

Text C

Some pricing terms

It is impossible to cover all pricing concepts in detail in this book. However you should at least be familiar with the following terms:

1. Adaptive pricing allows an organization to vary its price based on factors such as competition, market conditions, and resource costs. Rather than relying one set of price, the firm adjusts the price to fit different situations.

2. Competition-oriented pricing is a strategy based on what competitors are doing. It may be the opposite of pricing leadership.

3. Cost-oriented pricing is the strategy of setting prices primarily on the basis of cost. For example, retailers often use cost plus a certain markup and producers use a system of cost-plus pricing.

4. Customary pricing means that most sellers will adopt the product to some established, universally accepted price such as the price for gum or candy bars. Notice that when the customary price goes up, almost all producers adjust their price upward.

5. Demand-oriented pricing is the strategy of selling prices on the basis of consumer demand rather then cost. Sometimes different prices are charged different consumers (discriminatory pricing), as is the case with movie theatres (less for children), and drugstores (senior citizens get a discount).

6. Market price is that price that is determined by supply and demand and is not controllable by the seller. For example, farmers have a little control over the price they receive for grain or cattle. Market prices exist for many goods and services, besides farm products.

7. Pricing leadership is the procedure by which all the competitors in an industry follow the pricing practices of one or more dominant firms.

When one firm lowers or raises its prices , the others follow almost immediately. You may have noticed this tendency among oil companies and cigarette companies.

8. Product-line-pricing is the procedure used to set prices for a group of products that are similar but are aimed at different market segments. For example, a beer producer might have a low-priced beer and a premium-priced beer.

9. Target pricing means that an organization will set some goal such as a certain share of the market or a certain return on investment as a basis for setting a price. Usually market conditions prevent a firm from establishing prices this way, but such goals do give some direction to pricing policies.

10. Uniform pricing, also known as a “single-price policy”, means that all customers buying the product (given similar circumstances) will pay the same price. Although the most common policy in the United States, uniform pricing is unusual in many foreign markets, especially among private sellers.

1. Reading

1. Read the text d and translate it. My future Speciality

My future speciality is an economist. I study at the Economic Department of Kherson State Technical University. It trains many economic specialities. The course of study lasts five years. The students study such special subjects as : scientific organization of labour, organization of production process, industrial statistics computering, fundamentals of management, others.

They must be able to forecast the demand of goods, to know the fundamentals of marketing.

The specialist trained for economic, organizational, executive, research activities in the sphere of economics can be used at the enterprises in different branches of economy, insurance companies, investment funds, broker offices, economic administrative services, research and educational institutions, monitoring centres and laboratories of economic problems analysis.

The specialist may hold positions in the planning or financing departments, the departments of labour and salary.

There are many careers in industrial marketing for the University graduates because such goods and services are sold by sales representatives more than advertising (as most consumer goods are sold). This means a big demand for salespeople to sell everything from installations to supplies. Because industrial buyers buy in huge volume, comparatively speaking, the chance to make large commissions is very good.

To maintain some control over the marketing functions in a firm many businesses have created a position called marketing manager. A marketing manager plans and executes the conception, pricing, promotion, distribution of goods and services to create exchanges that satisfy individual or organizational goals.

A marketing manager deals with: buying, selling, transporting, storing, financing, risk taking, and , of course, research. He is desired to analyze and process data, to prepare report, to suggest alternative solutions, to recommend a course of action, to follow up the implementation, to redefine the situation.

The marketing manager’s work is flexible, creative, challenging.

A great success can be achieved by the graduates in the field of advertising.

Different kinds of advertising are used by various organizations to reach different “publics”. You may do your best in retail, trade, industrial or institutional advertising.

It should be said that specialists in marketing are active creators of new economic mechanism in our country.

II. Practice

1. Say a few words about:

1. your University;

2. special subjects to be studied;

3. Marketing;

4. what an economist must be able to do.

Use the following expressions:

1. It is important to say ….

2. It should be emphasized…

3. Shortly (generally) speaking …

4. Summing it up …

2. Characterize the career of a marketing manager inserting the words given below:

1. To … in a firm many businesses have created a position of marketing manager.

(to satisfy, the needs of customers, to improve the efficiency of the firm, to maintain some control over the marketing functions, to make large commissions)

2. A marketing manager plans and executes ….

(the budget of the organization; resources allocation; advertising; pricing and promotion; distribution of goods and services)

3. A marketing manager plans and executes the concept to … that satisfy individual and organizational goals.

(to prepare the conditions; to rise competitiveness; to increase the level of product quality; to create exchanges; to improve business’s ability to market)

4. A marketing manager deals with …

(changes in supply and demand; elements of the marketing mix, service based companies; buying and selling; industrial marketing; transporting and storing; the strategic combination of product decisions; financing and risk taking)

5. He is desired to :

(to make money; to do whatever it make to satisfy needs and wants; to prepare a report; to broaden firm’s activities; to suggest alternative solutions; to lead the promotional campaign; to recommend a course of action)

3. Describe the career of an industrial economist choosing and then using the required words and word combinations from the given below:

1. industrial marketing

2. organizational goals

3. sales representatives

4. big credit

5. to reach different “publics”

6. to sell everything

7. supply and demand

8. demand for salespeople

9. the chance to make big commissions

4. Fill in the table

Compare the careers of an industrial economist and an advertising manager according to some criteria

№	The goals	A set of problems	Spheres of employment
Industrial economist
Advertising manager

5. Prove that the marketing manager’s work is creative.

Use some phrases: to suggest alternative solutions; to recommend a course of actions; to redefine the situation; to analyze the data; to carry out research; to take risk; to plan the conception.

III. Practice

Pair work

1. Read the dialogues and act them.

I

“The first day in the office”

Susan Richter: Hi, I’m Susan. And you must be Bob.

Bob Fuller: Yes, nice to meet you.

Susan Richter: Let me introduce you to the staff. Where will you be working?

Bob Fuller: In the international sales division.

Susan Richter: Let me introduce you to Phil now. He is the manager of our division.

Phil Mendez: Hey, we’ve been expecting you.

Bob Fuller: Nice to meet you.

II

“A business meeting”

Bill Tapscott: Hello, Gary. How are you?

Garry Mann: Fine. And yourself?

Bill Tapscott: Not bad., thanks. Did you have time to look at my proposal?

Garry Mann: No, not really. Let's begin.

Bill Tapscott: Sure. I propose some new production and advertising strategies. To be competitive we must modernize our factory.

Garry Mann: How much will that cost?

Bill Tapscott: From $100.000 up to 500.000 (half a million)

Garry Mann: We'll discuss these costs with finance.

III

«Morning in the office»

Ted: Hello, Jack. How are you getting on?

Jack: Couldn't be better. And you?

Ted: That's OK. Coffee?

Jack: Yes, black, please. Any news?

Ted: Yes. You know, marketing has some interesting ideas for television commersials.

Jack: TV – isn't that too expensive for us?What's wrong with advertising in the papers, as usual?

Ted: We need to be more aggressive in order to keep ahead of our competitors.

Jack: Let's meet once more to discuss it more closely.

Ted: Let it be so. See you later!

IV

«Meeting a Friend»

Victor: Hi,Jane. I haven't seen you for ages. You've changed for better.

Jane: Hello, Victor. What a lucky chance to meet you. Where do you study?

Victor: I'm a second year student of the KSTU, the Economic department.

Jane: What's your speciality?

Victor: I'm interested in the career of marketing manager. It is flexible, creative, challenging work.

Jane: By the way, I haven't heard about such position. What is it challenging for?

Victor: This position in business is quite new. To maintain some control over the marketing

functions many firms have created it.

Jane: And what are these functions?

Victor: The sphere of a marketing manager is practically unlimited. He deals with buying, selling, storing, transporting, financing. He executes pricing promotion, distribution of goods and services to create exchanges.

Jane: It's very interesting.

V

• Hi, How's life?

• Bright! Thanks. Let's go to café for a cup of coffee.

• With pleasure. …

(In the café)

• Thanks a lot … First of all are you a student?

• Yes, I study Economics in Kiev.

• Oh! At last! It's wonderful! And just for comparison: What subjects are taught to you?

• The students study such special subjects as: scientific organization of labour, industrial statistics, computering, fundamentals of manangement and, of course, marketing.

• What carees are you interested most of all in?

• It's my deep belief that there are many careers in industrial marketing, because goods and services are sold by sales people.

• Is it well-paid?

• Because industrial buyers buy in huge volume, the chance to make large commisions is very good.

• I see; You've thought over everything.

2. Act like an interpreter.

1.

Lisa: Hi, I'm Lisa Ramon. And you must be Bob.

Bob: Так, радий з вами познайомитися. Дозвольте вас познайомити.

Sarah: Дуже приємно. Я – Сара Вілсон. Де ви будете працювати?

Bob: In the International sales division.

Lisa: А це завідуючий відділенням. Познайомтесь. Це Філ Фулер.

Phil: Добрий день. Ми давно на вас чекаємо.

2.

Ted: Привіт, Гарі. Як справи?

Garry: Fine and yourself?

Ted: Не погано. Ти встиг переглянути мою пропозицію?

Garry: No , not really. Let's begin now.

Ted: Звичайно, я пропоную нову стратегію виробництва і реклами. Якщо ми хочемо

залишатися конкурентоспроможними, нам необхідно модернізувати нашу фабрику.

Garry: How much will that cost?

Ted: Від 100.000 до півмільйона доларів.

Garry: OK. We'll discuss these costs with finance.

3.

Ted: Привіт, як справи?

Jack: Couldn't be better. And you?

Ted: Добре. Кави?

Jack: Yes, black, please. Any news?

Ted: Так, ти знаєш що відділ маркетингу має цікаві ідеї щодо телереклами?

Jack: TV – isn't that too expensive for us?What's wrong with advertising in the papers, as usual?

Ted: Ми повинні бути попереду всіх наших конкурентів.

Jack: Let's meet once more to discuss it more closely.

Ted: Добре. До зустрічі.

4.

Victor: Привіт, Жанна. Не бачив тебе сто років.

Jane: Hello, Victor. What a lucky chance to meet you. Where do you study?

Victor: Я навчаюсь в ХДТУ, на економічному факультеті.

Jane: What's your speciality?

Victor: Мене цікавить посада менеджера з маркетингу. Ця робота дуже цікава і творча.

Jane: By the way, I haven't heard about such posotion. What is it challenging for?

Victor: Щоб підтримувати контроль над функціями маркетингу деякі фірми запровадили цю посаду.

Jane: And what are these functions?

Victor: Оперативна сфера менеджера широка. Він займається купівлею-продажем, транспортуванням, зберіганням, фінансуванням, розподілом для створення середовища обміну.

Jane: Oh, sorry, it’s my bus. Bye .. Call me up!

5.

• Hi, How's life?

• Краще не буває. Давайте зайдемо в кафе випити чашку кави.

• With pleasure. …

(In the café)

• Thanks a lot … First of all, are you a student?

• Так, вивчаю економіку.

• Oh! At last! It's wonderful! And just for comparison: What subjects are taught to you?

• Ми вивчаємо багато спеціальних предметів: наукова організація праці; промислова статистика; обчислювальна техніка; маркетинг.

• What carees are you interested most of all in?

• Я твердо впевнений, що можливостей знайти роботу в промисловому маркетингу більше, так як товари і послуги продаються торговими агентами.

• Is it well-paid?

• Так як покупці промислових товарів вимагають продукцію в великих кількостях, то є шанс заробити хороші комісійні.

• You’ve thought over everything in detail.

3. Fill in the missing parts of the dialogue . Make use of the words and phrases from the text and dialogues.

1.

Brian: Hi, I'm Brian Taloy. You must be Kevin.

Kevin: . . . . . . . . . . . . . . . . . . . . . . . . .

Brian: I'd like you . . . . . . . . . . . . . . . . .

Annete: Hello. I'm Annette.

Brian: Where will you be working?

Kevin:. . . . . . . . . . . . . . . . . . . . . . . . . . .

Annete: Let's have lunch some time.

Kevin: . . . . . . . . . . . . . . . .. . . . . . . . . . .

2.

- . . . . . . . . . . . . . . . . . . . . . . .

- Fine. And yourself?

- Did you have time to look at my proposal?

• . . . . . . . . . . . . . . . . . . . . . . . .

And what is it about?

- . . . . . . . .. . . . . . . . . . . . . . . . . .

- How much will that cost?

- . . . . . . . . . . . . . . . . . . . . . . . . . .

• TV commercials are expensive for us.

• But . . . . . . . . . . . . . . . . . . . . . .

• We'll have a look at these figures more closely.

3.

• Hello! How are you getting on?

• . . . . . . . . . . . . . . . . . . . . . . . . .

• Where are you going to?

• . . . . . . . . . . . . . . . . . . . . . . . .

• What is your future speciality?

• . . . . . . . . . . . . . . . . . . . . . . . . .

• You know, I haven't heard about it. It's quite new, isn't it?

• . . . . . . . . . . . . . . . . . . . . . . . . . .

• Yes, it's really challenging! Be happy, bye.

4.

• Morning. How goes it?

• . . . . . . . . . . . . . . . . . . .

• With pleasure. We have a student cafe over there.

• I know you study economics too. What subjects are taught to you?

• . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• What careers are you interested in?

• . . . . . . . . . . . . . . . . . . . . . . . . . . . .

• Is it well-paid?

• . . . . . . . . . . . . . . . . . . . . . . . . . . .

• And I'm dreaming about the career of advertising manager.

• Yes, you may do your best in . . . . . . . . . . . . . . . . . .

• It's high time to go to the University. See you on Sunday!

• . . . . . . . . . . . . . . .. . . . . . . . . . .

IV. Make up the dialogues of your own on the following situations:

Situation 1

Today is your first working day in the office. Introduce yourself to the staff. Answer all the questions and propositions of your new colleagues. Meet your chief.

Situation 2

You have meet your ex class-mate. Note you are students. Speak about your educational institutions, subjects to be studied at, and presupposed careers.

Situation 3

You are working in the advertising agency. You are going to make a report about TV commercial at the business meeting today. Give the explanation to all remarks of your customer about the necessity and advantages of implementing TV commercials.

Situation 4

Your younger brother is eager to enter the University and to study at the Economic Department. Answer all his questions about possible positions of an economist.

IV. Discussion

1. Give information about your future possible career, using the following questions as a plan.

1. What position has been created by most of firms to maintain some control over the marketing functions.

2. What are the activities of a marketing manager?

3. What makes people think the work of a marketing manager is creative?

4. Why are there many careers for students in industrial marketing?

5. Is there any chance to make large commisions in the industrial marketing? Why?

6. What kinds of advertising do you know?

7. What kind of advertising do you prefer to deal with?

8. What «public» would you like to reach?

2. Discuss the problem of making TV commercials instead of usual paper advertising at the trade division meeting.

1. Explain the necessity of such changes in advertising; the advantages and modernity of TV commercials.

2. Prove the effectiveness of TV advertising.

3. Give the examples of modernizing other factories through the implementing of modern kinds of advertising.

3. For each of the following points discuss whether a marketer should emphasize price, place or word-of-mouth in his or her promotional campaign and explain why:

1. Baby sitting;

2. A resort motel;

3. Bottled water;

4. A dentist;

5. A bank;

6. A candy bar;

4. Give the information on the advantages of an industrial manager career, using the following phrases:

It should be noted (stressed, emphasized)

As for me

It's my deep belief

I think (guess, suppose)

I know it for sure

Undoubtly it is so

It's worth pointing out

Unit 4 Finance

I. Vocabulary

1. Word list:

to concern utilization to obtain cash flow expenditure survival regardless of charge in charge of merchandise collections responsibility generally vital to be involved in purchase to hire promotion remuneration staff to loose (lost) bad debts overdue payments particularly credit cushions outflow therefore to fall under thus to raise funds to assume high level training to include cash flow to stay satisfactory to loan to master to prevent

займатися, мати відношення до чогось використання отримувати, добувати рух коштів витрати, витрачання виживання не дивлячись на обов’язок нести відповідальність, завідувати товари, торгівля грошовий збір, інкаса відповідальність, обов’язок взагалі, як правило суттєвий, життєво важливий включатись в покупка наймати, давати напрокат виведення, просування товару на ринок винагорода за працю, заробітна платня службовий персонал втрачати безнадійні борги прострочені платежі особливо пом’якшення кредиту витік отже, отож підпадати таким чином знаходити фонди, мобілізувати засоби приймати, допускати високий рівень підготовка включати рух грошових коштів залишатися достатній, задовільний давати позику освоїти, оволодіти запобігати

to allocate to originate valuables guardian possession(s) current account interest to lend to act intermediary savings to borrow loan stream to render trust venture gain entrepreneurship entrepreneur tax break poverty disease

розміщати виникати, траплятися цінності, дорогоцінності охоронець володіння, майно поточний рахунок відсоток (позиковий) позичати діяти посередник збереження позичати позика потік подавати, перетворювати довіра ризикова справа, підприємство прибуток підприємництво підприємець зниження податкової ставки бідність хвороба

2. Find the Ukrainian(Russian) equivalents of the following international words:

Finance, business, function, funds, firm, budget, analysis, planning, machinery, chance, effectiveness, organization, financial plan, product, operation, control, credit, role, activity, company, type, corporation, aspect, modern, ordinary, professional, invent, vital.

II. Reading

1. Read the text “What is Finance?”

Text A:

“What is Finance?”

Finance is a necessary part of any modern economy. Finance concerns money and its utilization in the economy. Finance is the function in a business that obtains funds for the firm and manages funds within the firm (for example, preparing budget, doing cash flow analyses and planning of the expenditure of funds). Without a carefully calculated financial plan the firm has little chance for survival regardless of its product or marketing effectiveness. Most organizations have a manager in charge of financial operations. His charge is to obtain money and then plan, use and control money effectively. Among financial functions are such as buying merchandise on credit and collecting payments from buyers of the firm’s merchandise. Both credit and collections are important responsibilities of financial managers. Generally, the role of financial management is vital, as it is involved in most business activities – the purchase of raw materials, hiring of equipment, promotion of a new product and remuneration of staff. The finance manager must be sure that the company does not loose too much money to bad debts (people or firms that don’t pay). Naturally, this means that finance is responsible for collecting overdue payments. These functions are important to all types of business, but particularly important to small and medium size businesses which usually have smaller cash or credit cushions than large corporations.

Taxes represent an outflow of cash from the business and must be paid. Therefore, they too fall under the control of finance.

Thus, in every business the careful consideration of the way in which funds are raised and the monitoring of the way they are used, is vital aspect of the firm’s operation.

2. Find in the text –ing-forms, define their function and translate the sentences where they are used in Ukrainian.

3. Find link-words (or logical links) and say what they mean.

III. Comprehension

1. Answer the questions using information from the text:

1. What does finance deal with?

2. What is the function of finance?

3. Can a firm or a company be prosperous thanks to the marketing effectiveness only?

4. What are the charges of financial manager?

5. What can you say about the role of financial manager?

6. What do taxes represent?

7. What is a vital aspect of the firm’s operation?

2. Say whether these statements are true or false. If they are false say why. Add the phrases:

I agree to it. I can’t agree to it.

I think so too. I don’t think so.

Exactly so. Just on the contrary.

1. Finance is a necessary part of any modern economy.

2. Finance is the function of recording, classifying, summarizing and interpreting of financial events and transactions.

3. If a firm has poor marketing effectiveness it has little chance for survival.

4. The charge of a finance manager is to obtain money and then spend it effectively.

5. The role of financial management is very important.

6. Financial management deals with the purchase of raw materials, hiring of equipment, promotion of a new product.

7. Small and medium size businesses usually have no cash or credit cushions.

8. Careful control of the way funds are used is a vital aspect of the firm’s operation.

IV. Language

1. Match words in column a with their definitions in column b. Study the definitions of words.

1. Finance – 2. Debt – 3. Purchase – 4. Budget – 5. Financial control -

a financial plan that allocates resources based on projected revenues; a process that periodically compares the actual revenue, costs and expenses with projections; the function in a business responsible for obtaining funds for the firm, managing funds within the firm and planning of the expenditure of funds; something obtained by payment of money or its equipment; the sum of money that people or firms have borrowed and not paid back.

2. Fill in the blanks with the suitable words.

1. Finance …. money. (makes, spends, concerns)

2. The function of finance is obtaining funds, preparing budget and planning of the … of funds. (accumulation, expenditure, purchase)

3. Among financial functions are such as buying … (cash, loans, merchandise) on credit and collecting payments from … (buyers, sellers, staff).

4. Financial management deals with the purchase of raw material, hiring of equipment, …. of a new product (advertising, promotion, research).

5. The finance manager must be sure that the company does not loose too much money to bad … (customers, transactions, debts).

6. … represent an outflow of cash from business and must be paid. (debts, taxes, loans).

7. Finance exists wherever there are money… and money is spent (incomes, outflow, commodities).

V. Oral Practice

1. Be ready for the conversation about finance. Start with the statement that: “Finance is a necessary part of any modern economy”.

Then :

1. Define finance and explain its role within the firm.

2. Identify the reasons firms need cash and why financial management is important.

3. Explain the specific duties of the financial manager.

Use the following expressions: I do think that…; In my opinion …; It is important to say …;

Summing it up …

VI. Comprehension

1. Listen to the text “My future speciality”. Render the contents of the text in Russian.

Text B:

My Future Speciality

I study at the department of economy of Kherson State Technical University. Our department trains economists, accountants, managers and financiers. My future speciality is finance. This speciality is very popular and important in our country because finance is a necessary part of any modern economy. Finance exists wherever there are money incomes and money is spent. Government bodies and political parties, public institutions, organizers of productions are all concerned with finance.

And I like most people took an interest in financial problems. I want to know about the working of finance and credit and why they assume such an important role in the life of ordinary people and in relations between states.

The work of financier includes many functions, for example, preparing budgets, doing cash flow analysis and planning of the expenditure of funds. Financiers’ analysis help to answer such questions: as : Is the company strong enough to stay in business? Has the company’s income been satisfactory and should we invest in this company? Should we loan money to this company? Will it be able to pay the money back?

It goes without saying that we must have high level of professional training. Besides we must be able to operate the computer.

The course of study lasts five years. The students learn such general and special subjects as high mathematics, macroeconomics, microeconomics, statistics, marketing, business foundations and many other subjects. To master the speciality well the students take practical training at different enterprises companies, banks, tax bodies of our city. Graduates from our department can work as finance managers, financial controllers, tax inspectors, financial vice-presidents, directors of banks and companies.

Traditionally, financial careers have paid well and they are usually jobs for good students.

VII. Reading and Language

1. Find in the text the following words and word combinations.

Грошові прибутки, урядові установи, громадські організації, звичайні люди, високий рівень, підготовка, включати, рух готівки, витрата фондів, давати позику, оволодіти спеціальністю, підприємства, фінансист-контролер.

2. Make up the possible word combinations out of the following and translate them.

important business bad small careful vital necessary financial private primary personal deposited main manager marketing

debts effectiveness responsibility activity business consideration cheques money profit possession problem role part function in charge

3. Complete the sentences:

1. Finance exists wherever there are money ….

2. Government bodies, political parties, public institutions, organizers of …

3. The work of a financier includes many functions, for example, preparing …

4. Financiers’ analysis help to answer such questions, as: ….

5. Future financiers must be able to operate …

6. The course of study …

7. Traditionally, financial careers …

VIII. Oral Practice

1. Read the text B again. Think of some good questions for the following answers:

1. Government bodies and organizers of production.

2. Financial problems

3. Preparing budgets, doing cash flow analysis

4. Exactly so. Finance people control taxes.

5. Five years

6. You are right. Financial careers are paid well.

2. Retell the text using the plan and keywords.

The department you study at The role of finance in a modern world Why did you take an interest in finance? The functions of finance The questions, financiers’ analysis help to answer The professional training of future financiers Jobs for our graduates

to study at the department of, to train, future speciality, popular; to exist, money incomes, money is spent, government bodies, public institutions, to be concerned with; want to know, the working of finance and credit, to assume, ordinary people, relations between states; to include, functions, preparing budgets, doing cash flow analysis, planning of the expenditures; the company, strong enough, to stay in business, company income, satisfactory, invest, to loan money, to pay back; the course of study, to last, to learn, general and special subjects, to master, to take practical training; can work, finance managers, tax inspectors, vice-presidents, directors, financial careers, traditionally, to pay well.

4. Retell the text in turn. The 1^st student begins with one sentence, the 2^nd student says again this sentence and adds his sentence. Next student repeats the sentences that were told before and adds his sentence and so on.

IX. Reading

1. Skim the text to understand what it is about. Time your reading. Your time should be 7 minutes.

Text C:

Banks

Banks are closely concerned with the flow of money into and out of economy. They often cooperate with government in efforts to stabilize economies and to prevent inflation. They are specialists in the business of providing capital and in allocating funds on credit. Banks originated as places to which people took their valuables for safe-keeping, but today the great banks of the world have many functions in addition to acting as guardians of valuable private possessions.

Bank normally receive money from their customer in two distinct forms: on current account and on deposit account. With a current account, a customer can issue personal cheques. No interest is paid by the bank on this type of account. With a deposit account however, the customer leaves his money in the bank for a minimum specified period of time. Interest is paid on this money. The bank in its turn lends the deposited money to customers who need capital. This activity earns interests for the bank, and this interest is almost always at a higher rate than any interest which the bank pays to its depositors. In this way the bank makes its main profits.

We can say that the primary function of a bank today is to act as an intermediary between depositors who wish to make interest on their savings and borrowers who wish to obtain capital. The bank is a reservoir of loanable money with streams of money flowing in and out. For this reason economists and financiers often talk of money being “liquid” or of the “liquidity” of money. Many small sums which might not otherwise be used as capital are rendered useful simply because the bank acts as a reservoir.

The system of banking rests upon a basis of trust. Innumerable acts of trust build up the system of which bankers, depositors and borrowers are part.

X . Comprehension

1. Put the points of the plan in the right order.

The Plan.

1. Banks cooperate with governments.

2. The liquidity of money.

3. Two forms of receiving money.

4. Banks as an intermediary.

5. Functions of banks

XI. Language

1. Make up the correct word combinations out of the following and translate them:

to prevent to stabilize to provide to allocate to receive to issue to pay to lend to earn to make to obtain to need to keep

savings merchandise prices profit inflation economy funds checks interests money cash money capital

XII. Oral Practice

1. You are a bank manager. Tell the customer what facilities your bank has to deposit and lend money. Use the following expressions:

It is important to say….

As a matter of fact…

Everyone knows that …

You should …

I mean …

The point is that …

Summing it up …

2. Read and act the following dialogue:

A: -Can I help you, sir?

B: - Yes, I’d like to open a saving account.

A: - Certainly, sir. We’ll have to fill out some forms. Could I have your name, please?

B: - It’s Brown, Nick Brown.

A: - And where do you live?

B: - 2517 Greystone Road.

A: - Is that in Chicago?

B: - Yes, that’s right.

A: - And your zip code?

B: - 60602

A: - What’s your telephone number?

B: - 517- 8503

A: - And your occupation?

B: - I’m a salesman.

A: - I see. What’s the name of your employer?

B: - I work for NTV-system.

A: - Fine, just a minute, please.

3. Make up a dialogue, based on the following situation. Don’t forget about conversational formulas:

What can I do for you?

Certainly. Here it is. I’d like to know …

What about… By the way…

Situation

Ви подорожуєте за кордоном. Вам треба отримати готівку по дорожному чеку. Ви прийшли в банк і обговорюєте це зі службовцем. Виконайте наступні комунікативні завдання:

• Поцікавтесь,чи можете Ви отримати готівку по дорожньому чеку.

• У відповідь на прохання клерка покажіть свій паспорт.

• Повідомте, скільки грошей Ви хочете отримати, після того, як у Вас запитають.

• З’ясуйте, який курс обміну.

• Отримайте гроші, подякуйте клерку і дізнайтесь, де Вам поставити свій підпис.

Keywords:

Cash, traveller’s check, rate of exchange, to sign

4. Now let’s check up whether you are economical or not. Answer the following questions. Don’t forget to use the following phrases: I guess, To my mind, It seems to me, To tell you the truth, Unfortunately.

Have you ever borrowed money from anyone?

Who from? How much?

Have you ever lent money to anyone?

Who to? How much?

Are you in debt at the moment?

Does anyone owe you any money?

Do you save money?

Do you keep your money :

1. in a bank?

2. in a safe?

3. in a money-box?

4. Under the bed?

Have you bought anything this week? What?

What did it cost?

Was it worth it?

Was it new or second-hand?

Was it a bargain? Did you get a receipt?

XIII. Reading

1. Read the text and say what problems are mentioned in the text. Render the contents of the text using the following key-patterns:

The title of the article is …

The article (paper, text) deals with …

It is reported …

… are noted

The article is of great help to …

The article is of interest to ..

It gives a detailed analysis of …

… is proposed

… are discussed

In my opinion (I think) ..

The article (paper, text) is interesting (not interesting, useful, useless)

Text D

A Global View of Finance

When you read the financial literature, you find that there are many articles about the difficulty of finding start-up funds for new business in the United States. Think of how difficult it will be, therefore, for new business ventures in Poland, Hungary, China, Ukraine and other newly developing countries to get financing. The risks are great and the managerial expertise is sometimes limited. Yet the future growth of the whole world depends on the growth of entrepreneurship throughout the world.

What can be done to help the entrepreneurs of developing countries get the financing they need to start new ventures? One answer is for firms in developed countries to set up joint ventures with firms in developing countries. Such joint ventures will open new markets for the firms of developed countries and provide the financing needed by less developed countries. Another answer is for venture capital firms to expand world wide. The risk may be great, but the potential for gain is just as great. Often, the capital needs of firms in less developed countries are relatively small. Sometimes $ 1 000 is all that is needed. To USA government could promote such investment by giving tax breaks to those firms and individuals that provide capital for entrepreneurs in less developed countries.

Everyone in the world needs to start thinking globally if we are to make optimum use of the world’s resources, especially the world’s land and labour resources. By helping to provide start-up capital to farms and other businesses throughout the world developed countries can do much to end hunger, poverty and disease in the world.

XIV. Oral Practice

1. Read and act the following dialogue. Add the phrases:

Could you tell me … Personally I think

I’d like to know … As I see it …

By the way … It seems to me …

Really? In my opinion

Here is an interview between a journalist and Finance Minister:

J. – Has the policy of the government changed?

M. – Not very much. We are working towards stabilizing our hryvnia and making our economy

strong.

J. – What do you predict as a level of inflation over the next 12 months?

M. – Inflation will continue at present levels – about 2.5 per cent.

J. – Are you confident that economic growth will begin soon?

M. – Economic growth is now at 2 per cent and should rise to 4 per cent over the coming year.

2. Make up your own dialogue based on the above dialogue. Don’t forget about conversational formulas.

Ситуація Ви збираєтесь зробити інвестиції і з’ясовуєте у експертів фінансовий стан фірми куди ви хочете інвестувати свої гроші, цікавитесь, який був прибуток цієї фірми минулого місяця, чи достатня кількість готівки, які основні витрати.

Keywords: Financially strong enough, to stay in business, income, satisfactory, make money, on the investment

3. Topics

My Future Profession is Financier.

Finance is a necessary part of any modern economy.

1. Say a few words about the role of finance within the firm using given information:

2. Identify the reasons firms need cash and why financial management is important.

3. Explain what means to think globally.

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