Vocabulary
financial management n - финансовый менеджмент; управление финансовой деятельностью
fund n - фонд; денежные средства; капитал
acquisition n - приобретение
value n - стоимость; ценность
stakeholder n - «стейкхолдер»; субъект взаимовлияния с бизнесом
off the ground phr - уже быть основанным, начатым
= to get started
wage n часто plural - заработная плата рабочих
credit extension n - предоставление кредита
product line n - ассортимент изделий; товарная серия
production technique n - технология производства
cost of capital n - стоимость капитала
to raise money phr - добывать, доставать деньги
funding vehicle n - средство (способ, механизм) финансирования
rentals n - lденьги за аренду или прокат
to postpone payments phr - отсрочить платежи
equity financing n - долевое финансирование; финансирование за счёт собственных средств
debt financing n - финансирование за счёт займов
to evidence v - подтверждать; служить доказательством
stock certificate n - сертификат акции
to incur debt phr - влезть в долги
to repay v - возвращать деньги; погашать заём
to issue v - выпускать; пускать в обращение
issue n - спорный вопрос; проблема
voluntary adj - добровольный
visibility n - видимость (прозрачность)
excess earnings n - избыточная прибыль (доходы)
to plow back v - вкладывать
obsolete adj - устаревший; снятый с эксплуатации
accumulated interest n - накопленный процент
interest rate n - ставка (норма) процента
to omit v - пропускать; пренебрегать
to meet v - (зд) оплачивать; покрывать; выполнять
commitment n - 1. обязательство 2. вложения, затраты
bankruptcy n - банкротство
trade credit n - коммерческий кредит
commercial paper n - краткосрочный коммерческий вексель; подтоварный вексель
promissory note n - простой вексель, долговое обязательство
maturity date n - срок платежа по векселю
lease n - аренда; договор об аренде
bond n - облигация, долговое обязательство – ценная бумага, выпущенная компанией или правительством, владельцу которой обещан возврат в определённый срок денег и периодическая выплата процентов по фиксированной ставке
on favorable terms phr - на благоприятных условиях
returns n - (зд) доход, прибыль, поступления
negative cash flow n - движения наличности, при котором выплаты превышают поступления
capital investments n - капитальные вложения – инвестиция в долгосрочные внеоборотные активы (fixed assets)
capital budget n - бюджет капитальных вложений; бюджет приобретения долгосрочных внеоборотных активов
treasurer n - казначей; зав. финансовым отделом компании
Exibit 6.3
A Typical Finance Department of a Large Company
II. Comprehension exercises
1. Complete the statements:
1. Financial management and accounting
a) are two different words meaning the same business activity
b) are two absolutely different spheres not interrelated with each other
c) both deal with finance but have different focuses
2. Financial management means
a) preparing financial statements
b) the effective acquisition and use of money
c) the system business uses to measure its financial performance
3. A key goal of any business is
a) to develop new product lines and production techniques
b) to pay less taxes
c) to increase the value of its owners by making it grow
4. The money needed to start and operate a business is called
a) stock certificate
b) capital
c) cost of capital
5. The price a company must pay to raise money is known as
a) capital
b) cost of capital
c) capital costs
6. Equity financing refers to funds
a) that are borrowed from sources outside the company
b) that will be used to pay salaries and wages
c) that are invested by owners of the company
7. Increased liquidity and voluntary dividend payments are advantages of
a) equity financing
b) debt financing
c) accumulating excess earnings
8. Many companies accumulate excess earnings instead of
a) meeting their loan and bond commitments
b) paying dividends to shareholders
c) acquiring assets for future expansion
9. Debt financing refers to what we normally think of as
a) a stock certificate
b) a loan
c) the prevailing level of interest rates
10. Debt financing can be
a) only short-term
b) only long-term
c) either short or long-term
11. Short-term debt is any debt that will be repaid
f) within one month
b) within one year
c) in a period longer than one year
12. Two of the three major types of short-term debt are
f) trade credit
b) bonds
c) commercial paper
13. The responsibilities of a financial manager include
a) the preparation of financial statements
b) providing decision makers with information useful in making financial
decisions
c) financial analysis and planning, making investment decisions, making
financing and capital structure decisions, and managing financial resources
14. A document that shows the funds a firm will need for a period of time, as
well as the sources and uses of those funds is called
a) a development plan
b) a business plan
c) a financial plan
15. The chief officer in the finance department is called
a) the chief financial officer
b) the treasurer
c) the controller
2. Listed below are some of the responsibilities assumed by accountants and
financial managers. Identify the responsibilities of financial managers and
those of accountants.
to manage the company’s cash flow
to interact with banks and capital maekets
to compute and analyze proguction costs
to prepare tax tax returns and tax planning
to develop and implement the firm’s financial plan
to conduct an audit of a company’s accounts
to coordinate and control the efficiency of operations
to prepare financial statements
to analyze financial documents in search of fraudulent entries
10. to estimate the flow of money into and out of the business
11. to minimize a firm’s tax bill
12. to make investment decisions
13. to raise funds on favorable terms
14. to prepare an organization’s budget
15. to report financial information
16. to establish relationships with creditors and investors
17. to appraise (оценивать) credit and to collect funds
18. to deal with capital budgeting
19. to interpret financial data
20. to manage financial resources
The responsibilities of a financial manager: The responsibilities of an accountant:
----------------------------- ----------------------------
----------------------------- ----------------------------
------------------------------ -----------------------------