Financial Planing

Категория реферата: Топики по английскому языку
Теги реферата: собрание сочинений, мир рефератов
Добавил(а) на сайт: Хуртин.

IV. Translate into English.
1. Источники необеспеченного краткосрочного финансирования включают торговые кредиты, долговые обязательства, банковские ссуды, краткосрочные долговые обязательства (кредитно-денежные документы) и тратты (переводные векселя).
2. Торговый кредит — это отсрочка платежа, которую поставщик предоставляет своим клиентам.
3. Долговое обязательство — это письменное обязательство заемщика уплатить определенную сумму денег кредитору.
4. В отличие от торгового кредита долговые обязательства требуют, чтобы заемщик платил проценты.
5. Коммерческие банки предоставляют необеспеченные краткосрочные ссуды своим клиентам, которые меняются в зависимости от (with) кредитоспособности каждого заемщика.
6. Коммерческая бумага — это краткосрочное долговое обязательство, выпускаемое крупными корпорациями. .
7. Коммерческая бумага не имеет специального (special) обеспечения.
8. Тратта (переводной вексель) —это письменный приказ, требующий, чтобы трассат (лицо, на которое выставлена тратта) уплатил конкретную сумму денег поставщику за товары или услуги.
9. Тратта часто используется, когда поставщик не уверен в кредитоспособности клиента.

V. Answer the questions.
1. What is unsecured financing?
2. What are the sources of unsecured short-term financing?
3. What is a trade credit?
4. What is the difference between a promissory note and trade credit?
5. In what case a loan application may be rejected by a bank?
6. What is a commercial paper secured by?
7. Why issuing a commercial paper is cheaper than getting short-term financing from a bank?
8. What is a commercial draft?
9. Can commercial drafts be used as collaterals for loans?

VI. Make up a written abstract of the above text.

VII. Retell the prepared abstract.

Unit7

Accounting

1. GENERAL DEFINITION OF ACCOUNTING

Today, it is impossible to manage a business operation without accurate and timely accounting information. Managers and employees, lenders, suppliers, stockholders, and government agencies all rely on the information contained in two financial statements. These two reports — the balance sheet and the income statement — are summaries of a firm's activities during a specific time period. They represent the results of perhaps tens of thousands of transactions that have occurred during the accounting period.
Accounting is the process of systematically collecting, analyzing, and reporting financial information. The basic product that an accounting firm sells is information needed for the clients.
Many people confuse accounting with bookkeeping. Bookkeeping is a necessary part of accounting. Bookkeepers are responsible for recording (or keeping) the financial data that the accounting system processes.
The primary users of accounting information are managers. The firm's accounting system provides the information dealing with revenues, costs, accounts receivables, amounts borrowed and owed, profits, return on investment, and the like. This information can be compiled for the entire firm; for each product; for each sales territory, store, or individual salesperson; for each division or department; and generally in any way that will help those who manage the organization. Accounting information helps man- agers plan and set goals, organize, motivate, and control. Lenders and suppliers need this accounting information to evaluate credit risks.
Stockholders and potential investors need the information to evaluate soundness of investments, and government agencies need it to confirm tax liabilities, confirm payroll deductions, and approve new issues of stocks and bonds. The firm's accounting system must be able to provide all this information, in the required form.

2. THE BASIS FOR THE ACCOUNTING PROCESS

The basis for the accounting process is the accounting equation. It shows the relationship among the firm's assets, liabilities, and owner's equity.
Assets are the items of value that a firm owns — cash, inventories, land, equipment, buildings, patents, and the like.
Liabilities are the firm's debts and obligations — what it owes to others.
Owner's equity is the difference between a firm's assets and its liabilities — what would be left over for the firm's owners if its assets were used to pay off its liabilities.
The relationship among these three terms is the following:
Owners' equity = assets - liabilities
(The owners' equity is equal to the assets minus the liabilities)
For a sole proprietorship or partnership, the owners' equity is shown as the difference between assets and liabilities. In a partnership, each partner's share of the ownership is reported separately by each owner's name. For a corporation, the owners' equity is usually referred to as stockholders' equity or shareholders'equity. It is shown as the total value of its stock, plus retained earnings that have accumulated to date.
By moving the above three terms algebraically, we obtain the standard form of the accounting equation:
Assets = liabilities + owners' equity
(The assets are equal to the liabilities plus the owners' equity)

3. A BALANCE SHEET

A balance sheet (or statement of financial position), is a summary of a firm's assets, liabilities, and owners' equity accounts at a particular time, showing the various money amounts that enter into the accounting equation. The balance sheet must demonstrate that the accounting equation does indeed balance. That is, it must show that the firm's assets are equal to its liabilities plus its owners' equity. The balance sheet is prepared at least once a year. Most firms also have balance sheets prepared semi- annually, quarterly, or monthly.

4. AN INCOME STATEMENT

An income statement is a summary of a firm's revenues and expenses during a specified accounting period. The income statement is sometimes called the statement of income and expenses. It may be prepared monthly, quarterly, semiannually, or annually. An income statement covering the previous year must be included in a corporation's annual report to its stockholders.

5. THE IMPORTANCE OF THE ABOVE TWO STATEMENTS

The information contained in these two financial statements becomes more important when it is compared with corresponding information for previous years, for competitors, and for the industry in which the firm operates. A number of financial ratios can also be computed from this information.
These ratios provide a picture of the firm's profitability, its short-term financial position, its activity in the area of accounts receivables and inventory, and its long-term debt financing. Like the information on the firm's financial statements, the ratios can and should be compared with those of past accounting periods, those of competitors, and those representing the average of the industry as a whole.

[pic]
[pic]

[pic]
[pic]

[pic]
[pic]

Exercises

I. Translate into Russian.

Accounting; bookkeeping; accounting information; lender; stock; stockholder; financial statement; balance sheet; income statement; assets; liabilities; owners' equity; bond; debt; annual report; profitability; accounting period; return on investment; soundness of investment; issue of stocks and bonds; revenue; profit; account receivable; transaction; amount; own; owner; relay on; report; borrow; deal with; confirm; approve; provide; compare.

II. Find the English equivalents.

Бухгалтерский учет (бухучет); точная и своевременная информация; акционер;кредитор; ведомство (агентство); отчет
(доклад); балансовый отчет; отчет о доходах; отчетный период; счетоводство
(бухгалтерия); финансовая информация; прибыль (доход); выгода (прибыль); прибыль на инвестированный капитал; дебиторская задолженность; обязательство; денежное обязательство (пассив); платежная ведомость; акция
(ценная бумага); активы; долг; счет прибылей (иубытков); ежегодный отчет; доходность; собственный акционерный капитал; одобрять; сравнивать; подтверждать; занимать (брать взаймы); обрабатывать (информацию).

III. Fill in the blanks.
1. Managers, lenders, suppliers and government agencies relay on the information contained in two ....
2. These two reports — the balance sheet and ... — are summaries of a firm's activities during a specific time period.
3. The basis for the accounting process is ....
4. Assets are the ... that a firm owns.
5. Liabilities are the firm's debts and ....
6. Owners' equity is the difference between a firm's ... and its liabilities.
7. A balance sheet is ... of a firm's assets, liabilities, and owners' equity accounts at a particular time.
8. A balance sheet must demonstrate that the accounting ... does indeed balance.
9. An income statement is a summary of a firm's revenues and

Поделитесь этой записью или добавьте в закладки