Ex.1. Match the terms with their definitions. Explain the meanings of the given terms in Russian

1. placing

2. public issue

3. working capital

4. auditor’s report

5. institutional investor

6. group of companies

a) the stock of money needed by a business in order to keep trading or to carry on production. It consists of stocks and liquid resources (cash and things that can be quickly turned into cash); and it is equal to the difference between the current assets and the current liabilities syn. circulating capital; floating capital; liquid capital; liquid assets; net current assets; circulating assets; (VS) current capital

b) insce. 1) the act of making an insurance contract with an insurer or reinsurer; 2) the result of the insurance itself; 3) stk. exch. a way of issuing shares in a private company that is about to become a public company, by which the broker or issuing-house handling the issue places the shares with the public, i.e. sets out to find from among his or their clients a small number of wealthy persons or organizations such as institutional investors (insurance companies, pension funds, etc) who are willing to buy large numbers of the new shares

c) 1.s tk.exch. the practice of making a new issue of equity shares or loan stock in a company that has already been granted a Stock Exchange quotation, or of issuing existing capital of a private company which is in process of becoming a public company and is requesting a quotation. For the methods used to make new issues

2. a method of making a new issue of equities or loan stock in a company, by inviting the public, through advertisements in the newspapers, to apply for the number of shares or amount of stock that they wish to buy, at the price fixed by the company

d) law. a report by the auditor officially appointed by an organization to audit its accounts. The report, usually written on the balance sheet or attached to it, must by law state: whether the books of account have been properly kept; whether the balance sheet and profit and loss account agree with the books of account; whether in his opinion the profit and loss account gives a true and fair view of the state of affairs at the end of the year; and whether the accounts as a whole are in accordance with the provisions of the Companies Act

e) stk.exch. a combination of companies that are legally independent but which make up a group consisting of a parent company and one or more subsidiary companies or affiliates each of which the parent company controls because it holds more than half its share-capital

f) stk.exch. a large organisation such as an insurance company, unit trust, pension fund and trade union, that has large sums of money to invest and is therefore much more powerful in influencing financial policy than single private investors