Слухай та говори англійською про економіку (стр. 6 из 12)
2 Listening and note-taking
Listen to the extract from a meeting to discuss the valuation of the company. As you listen, complete Chart 23.
Chart 23
| Assets | Net asset value | Long-term liabilities | Target price | |
| Earnings (goodwill) | Average profits | Average turnover | Gross margin | Target price |
3. Comprehension check
3.1. Why are Technics interested in this firm? 3.2. Why won’t they be interested in the assets?
3.3. What will the current net asset value cover?
3.4. Are the firm’s net profits outstanding?
4. Language focus
4.1. Continuous verb forms
Look at the following extracts taken from the Listening passage:
«Technics will be looking for a good return on their capital...»
«We should be looking for a goodwill figure of about £500,000...»
Now decide whether you can use a continuous form of the verbs in italic to stress the ongoing nature of an event in the following sentences. Where it is possible, change the verb.
1. We will make a profit of $100,000 this year.
2. We should invest in time share deals.
3. They have reported a £20 million loss.
4. They have lost money continuously.
5. We invested £10 million in the project and we lost it all.
6. We recruited salesmen throughout the year.
7. He always talks about things; he never does them.
8. We attract offers regularly.
9. She has acquired two companies recently.
10. He has acquired companies all his life.
4.2. Verb + preposition: to look...
Look at the following sentence taken from the Listening passage:
«Technics will be looking for a good return on their capital…»
Now complete the following sentences with an appropriate preposition:
1. If you look ______ your current figures, they don’t make happy
reading.
2. We’ve taken on a consultant. She’s going to look _______ our
supply chain.
3. You shouldn’t look ______ to consultants. They make mistakes like the rest of us.
4. We’ve been looking ______ a new bookkeeper for weeks;
maybe we need to advertise nationally.
5. I looked _____________ the telephone number in the directory.
6. Finance managers should never look ________ on other departmental managers, just because they don’t understand finance. 7. We’re looking ______ the possibility of subcontracting some of
the production. It looks __________ if it may be possible.
8. If you look _______ the pennies, the pounds will take care of themselves.
5. Word study
Talking about figures. Study how we can be more or less precise when we discuss figures:
| just over/above | ||
| a bit more than | 200,000+ | |
| about | ||
| precisely | around | |
| exactly | 200,000 | in the region of |
| approximately | ||
| Just under/below | ||
| nearly | 200,000– | |
| almost |
Listen to the cassette. You will hear a number of figures. Round them up or down and use one of the above phrases. For example:
199,400 around 200,000
just under 200,000
6. Transfer
Present the analysis of the valuation using Chart 23 above.
BUSINESS ANALYSIS
1. Pre-Listening Task
What business data would you like to have in order to judge the performance of a company?
2. Listening and note-taking
Listen to an internal meeting between a finance manager and head of marketing. As you listen, complete chart 24.
Chart 24
| Sectors of business | Market share (%) | Market growth | Turnover (%) | Profits (%) | Investment (%) |
3. Comprehension check
Do you think the marketing manager is turnover-oriented or profitoriented?
4. Language focus
4.1. Present continuous
Look at the following sentences taken from the Listening passage:
«We’re operating in three major sectors of consultancy work...»
«These three sectors are growing at different rates...»
Now decide if the verbs in italic in the sentences below need to be changed to the present continuous. If so, change them:
1. We currently hold about 10 per cent of the financial consultancy market.
2. The human resource sector expands rapidly at the moment.
3. He always works too hard.
4. We gain market share in the present climate.
5. If this recession continues, we will lose our position.
6. What does he do? He telephones America.
7. I feel we should withdraw from the market.
8. I wait for the results of the survey. Then I will decide.
4.2. Presentation-linkers
Look at the following extracts from the Listening passage:
«So let me start by reviewing where we stand».
«I was just coming to that. Before I do, let me just add...»
Now match the phrases with the functions for structuring a presentation:
| Function | Phrases |
| 1. Introducing the topic | a. Let me start by |
| 2. Giving an outline | b. I’ll come to that later |
| 3. Starting a point | c. Incidentally, you may be interested to know |
| 4. Finishing a point | d. Well, thank you for your attention: I’m sure you’ve got some questions |
| 5. Moving on to another point | e. I’ve divided my talk into three parts |
| 6. Referring backwards | f. That’s all I have to say about |
| 7. Referring forwards | g. As I mentioned earlier |
| 8. Digressing | h. Let me just add |
| 9. Adding information | i. Let’s move on now to the question of |
| 10. Closing the talk | j. Today, I’d like to talk about |
5. Word study
Match the words/expressions on the left with the best synonym on the right:
| 1. views | a. to forecast |
| 2. to review | b. to give to |
| 3. to estimate | c. to assign |
| 4. to move into a market | d. to hold market share |
| 5. to build on your strength | e. to grow |
| 6. static | f. opinions |
| 7. to expand | g. to summarize |
| 8. to be in line with | h. to be compatible with |
| 9. to contribute to | i. to take advantage of your strong points |
| 10. to fit in with | j. stable |
| 11. to allocate | k. to be as expected/budgeted |
| 12. to maintain market share | 1. to enter a market |
6. Discussion
Which are the most important constraints and opportunities for a company?
Financial constraints/opportunitiesMarketing constraints/opportunities
Personnel constraints/opportunities
Others
ETHICS IN ACCOUNTING
1. Pre-Listening Task
1.1. What are the advantages/disadvantages of valuing fixed assets at historical cost?
1.2. What should an auditor’s attitude be towards deferred items
which are difficult to quantify with any certainty?
2. Listening and note-taking
Listen to the discussion between an auditor and a finance manager. As you listen, complete the table below.
Chart 25
| Item | Book value/cost | Actual value/cost |
| Freehold property | a. ___________________ | c. ___________________ |
| Redundancy payments | b. ___________________ | d. ___________________ |
3. Comprehension check
3.1. Why doesn’t the finance manager want the assets entered into
the accounts at actual value?
3.2. Why does the auditor feel they should be revalued?
3.3. What is the extraordinary item intended to cover?
3.4. Is it likely to be enough? 3.5. Why doesn’t the finance manager want more set aside?
4. Language focus
4.1. Short responses
Look at the following responses taken from the Listening passage:
«True, but we’d be a much bigger target...»
«Good, let me...» «Really, then I...»
Now match the best responses with the statements/questions:
| Statements/questions | Responses |
| 1. Could you hand me the minutes? | a. I see |
| 2. There are too many risks. | b. Of course not! |
| 3. I’ve finished the report. | c. Maybe |
| 4. I suppose these figures aren’t accurate. | d. Never mind |
| 5. That deals with the first part. | e. You’re welcome |
| 6. We lost the contract. | f. Good |
| 7. Let me put it this way: it’s a multiple of 50 times 3. | g. Right, let’s move on |
| 8. Could you manage a meeting at 6 pm? | h. Yes, here you are |
| 9. Thanks for all уour help. | i. True |
4.2. Meetings — controlling and structuring.
Look at the following extracts taken from the Listening passage:
«There are a couple of issues I’d like to bring up».
«Right, there’s another issue».
Now match the expressions with the functions they perform:
| Functions | Expressions |
| 1. Outlining the structure | a. I think that covers the first point. |
| 2. Coming to the first point | b. That’s outside the scope of the meeting. |
| 3. Closing the first point | c. Can we come to an agreement? |
| 4. Opening the second point | d. Right, there are two major issues today... |
| 5. Dealing with a digression | e. I’d like to propose... |
| 6. Making a proposal | f. Before we close, let me go over the main points. |
| 7. Reaching agreement | g. Firstly, we need to... |
| 8. Summarising | h. Let’s call it a day. |
| 9. Closing the meeting | i. That brings us to the second major item. |
5. Word study
The adjectives below can all be used to describe an auditor’s work. Categorise them under the five key adjectives.
| disinterested | suitable | safe | reliable | fair | logical |
| impartial | cautious | applicable | objective | modest | accurate |
| steady | unbiased | representative | appropriate | rational | true |
| conservative |
honest independent relevant prudent consistent
____________ ____________ ____________ ____________ ____________
____________ ____________ ____________ ____________ ____________
____________ ____________ ____________ ____________ ____________
____________ ____________ ____________ ____________ ____________
ANALYSING PERFORMANCE
1. Pre-Listening Task
1.1. What are the problems of analysing companies from their annual reports?
1.2. Ноw can you judge future performance from past results?
2. Listening and note-taking
Listen to the extract from a meeting in which two companies are being compared. As you listen, complete Chart 26.
Chart 26
| Saxon | Pixbury |
| Development costs | |
| Bond issue | |
| Net income | |
| Assets: equity | |
| intangibales |
3. Comprehension check
3.1. How do you think R&D costs should be accounted for in the P&L account and balance sheet?
3.2. How do you think goodwill should be accounted for when acquiring a company?
4. Language focus
4.1. Meetings — introductions and controlling
Look at the following extracts from the Listening passage: «Okay gentlemen, let’s get started».
«So, John, would you like to put us in the picture?» Now match the expression with its function in a meeting.
Function Expression
1. Opening the meeting a. Peter, would you like to start the ball rolling?
2. Agreeing the agenda b. Just a moment. Let John finish.
3. Introducing the first item c. Let me just recap then. What we’ve agreed is ...
4. Asking for contributions d. Okay, let’s get down to business.
Function Expression
5. Paraphrasing/clarifying e. If I understand you correctly, you’re saying ...
6. Asking for further contribu- f. Michael, that’s interesting. Let’s hear from tions somebody else.
7. Allowing somebody to finish g. Has anybody anything further to add?
8. Stopping someone talking h. Has everybody seen the agenda? All happy with it?
9. Summarising i. So, let’s call it a day. 10. Closing the meeting j. Let’s move straight away to the first item.
4.2. Degree – modification of adjectives
Look at the following sentences taken from the Listening passage:
«On the face of it, Saxon performed much better than Pixbury last year».
«Pixbury have a much more modest figure...»
Now classify the following adverbs of degree as strong (S), neutral (N) or weak (W).
| 1. considerably | 5. moderately |
| 2. somewhat | 6. a little |
| 3. slightly | 7. much |
4. quite a lot 8. marginally
5. Word study
Group these words under the four headings given below: