Use of the essential vocabulary. Task 2. Memorise the essential vocabulary to text 1 and translate the sentences containing it: (1) accounting(облік доходу

Task 2. Memorise the essential vocabulary to Text 1 and translate the sentences containing it:

(1) accounting(облік доходу, бухгалтерський облік) – system of recording and summarising business and financial transactions and analysing, verifying and reporting the results. Accounting is a procedure each manager should be acquainted with.

(2) bond(облігація)–the amount of the money guarantee. A bond is a certificate showing that a person has loaned money to a firm. secured bond – забезпечена облігація unsecured bond – незабезпечена облігація

(3) to cut expenses(зменшити витрати)–to reduce costs. If we want to get profit we should not cut expenses on a stunning advertising campaign.

(4) earnings(грошові надходження)–the balance of revenue after deduction of costs and expenses. Retained earnings are the profits a firm keeps after distributing dividends to stockholders. retained earnings –нерозподілені прибутки, надходження

(5) equity financing(акційне фінансування)–the capital involving the public sale of stock. Equity financing involves the public sale of stock.

(6) to expand(розширюватись)–to increase the extent, the number, the volume or the scope of smth. Our company has greatly expanded thanks to launching several branches abroad.

(7) funds(фонди, активи, гроші)–personal estate of a firm, money that an organisation needs or has. Internal funds are money coming from within a firm.

(8) to give preference to smth.(надавати перевагу)–to prefer smth. to smth. Prefered stock gives owners preference in payment of dividends.

(9) to invest into(вкладати гроші, інвестувати)–to put money into a business or venture intending to earn profit. I would like to invest my money into building a new hospital.

(10) middleman(посередник)–a dealer or agent intermediate between the producer of goods and a retailer or a consumer or the one to arrange business deals for others, often for a profit. One may have a middleman to deliver goods to a consumer.

(11) to optimise profits(оптимізувати дохід)–to make profits as huge, effective or functional as possible. The only way out of this situation is to optimise profits.

(12) proxy(доручення)–a document giving the authority to act for another person. Proxy is temporary transfer of voting rights from stockholders to managers.

(13) revenue(прибуток)–gross income returned by investment. Planning a budget one must plan not only expenditures but also revenue one may obtain.

(14) securities(цінні папери)–an evidence of debt or ownership (as a stock certificate or a bond). Securities are represented by stocks and bonds.

(15) stock(акція)–a share of ownership of a company. Stock exchange is a market where stocks and shares are bought and sold under fixed rules, but at prices controlled by demand and supply. common stock –звичайна акція preferred stock –привілейована акція

(16) stock exchange(фондова біржа)–a place where security trading is conducted on an organised system. A stock exchange is the market, where brokers meet each other to buy or sell stocks and bonds for their customers.

(17) treasurer(скарбник)–an officer entrusted with the receipt, care and disbursement of funds. A person who obtains, plans and controls money effectively is known as a vice president of finance or treasurer.

(18) venture(комерційна справа) –a new business activity that involves taking risks. Businessmen should mediate over the best way of investing money to promote a venture. to venture –ризикувати

Task 3. Match each word in section A with its translation in section B:

A. Accounting; audit; effectively; optimisation; mutual funds; to project; investments; securities; inadequate; long-term; to evaluate; obligation; comprehensive; assets; to establish; objectives; advantageous; unsecured; to pay back; raw materials; revenue; interest; balance sheet; to vote; mature; cooperation; to comprise; yearly budget; vehicle; discount.

B. Оптимізація; балансовий звіт; неадекватний; відсоток; інвестиції; майно; започатковувати; голосувати; бухгалтерський облік; вигідний; зобов’язання; довгостроковий; спільні фонди; містити в собі; зрілий; річний бюджет; сировина; незабезпечений; оцінювати; прибуток; аудит; виплачувати; ефективно; цінні папери; планувати; знижка; співпраця; засіб передачі; цілі; зрозумілий.

Task 4. Match each word in section A with the one of the similar meaning in section B:

A. To repay; to accumulate; commodity; to delay; external funding; to imply; to optimise; temporary sources; top management; backed up by; to preserve; disadvantage;financing; to distribute; significant.

B. Sources for a limited time; to maintain; monetary support; to gather; supported by; to hold up; to pay back; to increase; a weakness; outstanding; to enfold; key executives; to apportion; money coming from outside the firm; goods.

Task 5. Match each word in section A with the one of the opposite meaning in section B:

A. Foreign currency; short-run money; efficiently; collateral; external funding; to give preference to; to obtain; with projection; earnings; cash requirements.

B. Long-run money; providing no aid or support; to lose; without-cash requirements; domestic currency; not planned; expenditures; non-efficiently; not to pay attention to; internal funding.

Task 6. Match each word in section A with its definition in section B:

A. Overdue payments; maturity; investment vehicles; equity financing; commodity; to cut expenses; debenture; mortgage; revenue; treasurer; to optimise.

B. The capital involving public sale of stock; bonds backed by the general credit of an issuer; an officer entrusted with care of funds; to reduce costs; a product for sale; to increase; money not being paid in time; lien against property; money coming from a transaction; the state of complete development; the ways people may invest their money.

Task 7. Rearrange the following jumbled words into sentences:

1. The role of finance, in business, is huge. 2. Financial managers use data, and recommend to the top management, obtained from accountants, how to improve the financial strength of a firm. 3. A true manager, the same as a good accountant, must understand accounting, has to be aware of finance. 4. Finance is the function in business, and planning possible expenditures of funds, responsible for getting funds for a firm, managing funds within a firm, on various assets. 5. A person, is known, who obtains, plans, and controls money effectively, as a vice president of finance or treasurer. 6. There is long-term and short-term financing, a difficult financial situation, as the ways to consider, at a firm. 7. The money is usually used, to finance larger expenses, or long-term assets, such as buying equipment, or just expanding of an organisation. 8. A company may obtain capital, that is referred to, that involves the public sale of stock, as equity financing. 9. Stocks, of a company, are shares of ownership. 10. A stock certificate, stock ownership, proves.

Task 8. Memorise the essential vocabulary to Text 2 and translate the sentences containing it:

(1) actuary(актуарій, статистик страхового товариства) – smb. who advises insurance companies on how much to charge for insurance, after calculating the various risks. Actuary predicts future possible losses on the basis of historical data.

(2) additional funds(додаткові кошти)–money coming from additional sources. We need additional funds to run our business.

(3) to afford(дозволити собі фінансово)–to have enough money to buy or pay for smth. Self-insurance guarantees managing amount of loss to those companies that cannot afford conventional property or casualty policies.

(4) appropriate(відповідний)–suitable for this very situation or moment. People compile appropriate plans and efficient programs to cover the risk at a minimum cost.

(5) bankruptcy(банкрутство)–the state of complete financial failure. The risk of failure, bankruptcy and financial losses is also increasing. to become a bankrupt –стати банкрутом to go bankrupt – збанкрутувати

(6) to calculate(обчислювати)–to determine by mathematical processes. Insurance adjuster calculates the extent of a loss.

(7) cargo(вантаж)–the goods or merchandise conveyed in a ship, airplane or vehicle. The cargo must be delivered in time.

(8) conventional(звичайний, традиційний, загальноприйнятий)–taking place in accordance with the law. Self-insurance guarantees managing amount of loss to those who cannot afford conventional property or casualty policies.

(9) to cover losses(покривати втрати)–to reimburse the money spent. We have covered all the losses caused by the poor performance.

(10) to enable(надавати можливість)–to give an opportunity to act. This document enables you to make your own decisions concerning the point.

(11) to exceed(перевищувати)–to be more than a number or amount, especially a fixed number. When income exceeds expendi­tures, a budget will have a surplus.

(12) facilities(сприятливі умови; можливості; засоби; устаткування)–comfortable conditions for people to perform. Employees must be provided with good working facilities.

(13) to guarantee(гарантувати)–to give security to, to assert confidently. The right to private property is guaranteed in our country.

(14) hazardous activity(небезпечна діяльність)–a kind of activity that may cause damage or subject one to a possible failure. Some companies try to avoid risks by not being involved in hazardous activity.

(15) institution(установа)–an established organisation or corpora­tion especially of a public character. Insurance policy stands for a written contract between the insured individual or institution and the insurance company itself that promises to pay for all or part of a loss.

(16) insurance(страхування)–a means of guaranteeing protection or safety. Insurance is rather expensive cost, thus people in business have to search for the other sources of managing risks. insurance adjuster – працівник служби страхування, який здійс­нює оцінку страхових збитків insurance policy –страховий поліс insurance premium – страхова надбавка participating insurance – страхування з участю у прибутках страхового товариства stock insurance company – акціонерна страхова компанія mutual insurance company – взаємоощадний банк

(17) issue(пункт, питання)–a point, a question to discuss. One may consider this issue to be the major one among the other business issues.

(18) key executive(керівник вищої ланки)–a person responsible for performance of an enterprise. A true key executive must be prudent, responsible and open to change.

(19) legal claims(юридичні позови, правові скарги)–claims made according to the law. You have the right to legal claims.

(20) mutual(спільний)–shared in common. A mutual insurance company is owned by its policyholders.

(21) nonpayment(невиплата)–failure to repay. Credit policy covers from nonpayment by consumers.

(22) option(варіант, альтернатива, вибір)–an alternative course of action. An enterprise may earn additional funds through buying new machinery, considering options, making decisions to decrease the probability of loss.

(23) to pay off bills(сплачувати рахунки)–to pay a certain sum of mo­ney according to the bill. Living in the hotel you have to pay off the bills.

(24) policyholders(власники страхових полісів)–the owners ofinsurance policy. Policyholders may sell policies to those who want to insure their business.

(25) possible losses(можливі втрати)–the money which might be possibly lost while operating a business. All the possible losses must be foreseen.

(26) to presuppose(заздалегідь припускати; припускати як попе­редню умову; передбачати)–to presume or depend on smth. that is believed to exist or to be true. Most attention should be paid to life insurance presupposing insurance for executives and employees.

(27) property(власність)–all the things one owns. Self-insurance guarantees managing amount of loss to those companies that cannot afford conventional property or casualty policies. private property –приватна власність

(28) probability of loss(реальна можливість втрат)–the state when the risk of financial loss is rather high. Risk refers to the chance of loss, the probability of loss and the amount of possible loss.

(29) to purchase(купувати)–to buy. Would you like to purchase insurance on this estate? purchase –покупка

(30) to reimburse(відшкодовувати)–to make restoration or payment of an equivalent of money. All the expenses on the business trip will be reimbursed. reimbursement –відшкодування

(31) the risk of failure(ризик збанкрутувати) – the risk to become a bankrupt. Every business finds itself under the risk of failure.

(32) to represent(представляти)–to present, to stand for. Actuary representing the other profession in the sphere of risk management predicts future possible losses on the basis of historical data.

(33) to retire(виходити на пенсію) –to leave the place of work because of the age limit. Retirement plans should provide employees with the ability to get financial support after retiring from a job. retirement –пенсія

(34) to self-insure(застрахувати себе)–to insure oneself. The firms might self-insure against the risk, avoid the risk or buy insurance to cover the risk.

(35) source(джерело)–a thing, place, activity etc. that you get smth. from. We have found a reliable source of income.

(36) to sustain(підтримувати, підтверджувати)–to make smth.continue to exist or happen for a period of time, to give support to. The new business plan was sustained during the last meeting.

(37) theft(крадіжка)–the act of robbing, taking and removing off a personal property. You cannot foresee a possible theft, but you can insure your property against it. thief – злодій

Task 9. Match each word in section A with its translation in section B:

A. To broaden; to manage; to consider; pure risk; rates; retirement; pension plans; performance; to reduce; to provide; executives; to guarantee; to issue; to refer to; to represent; demand; to propose; to appear; an individual; to exceed; policy; employees; to share; to acquire; non-payment; breaking.

B. Розширювати; працівники; гарантувати; керівники; рівні; попит; пенсія; ділити; зменшувати; забезпечувати; чистий ризик; видавати; перевищувати; з'являтися; пенсійні плани; представляти; називати; набувати; діяльність; невиплата; злам; пропонувати; індивід; керувати; розглядати; поліс.

Task 10. Match each word in section A with the one of the similar meaning in section B:

A. To presuppose; property; efficient; opportunity; consumers; natural disaster; amount of loss; facilities; bankruptcy; considerable; to decrease.

B. Belongings; clients, customers; quantity of loss; to assume; catastrophe; effective; comfortable conditions; to diminish, to minimise; significant; actual possibility; failure.

Task 11. Match each word in section A with the one of the opposite meaning in section B:

A. Additional; to minimise; to sustain; to afford; to pay off; maintenance; conventional; hazardous.

B. To optimise; to fail to perform; negligence; anarchic; spare; reliable; to turn down; to fail to repay.

Task 12. Match each word in section A with its definition in section B:

A. To enable; appropriate; financial support; liability; the premium; speculative risk; stockholder; policyholder; to reach for.

B. The risk involving a chance for either profit or loss; the owner of shares; to give smb. an opportunity to act; especially suitable or compatible; the fee charged by an insurance company; the owner of an insurance policy; to aim for smth.; the amount of debt that must be paid; monetary support.

Task 13. Rearrange the following jumbled words into sentences:

1. The risk of failure, is also increasing, bankruptcy, and financial losses. 2. Some years ago, to protect against the risk, the best way, was to buy insurance. 3. Insurance is rather expensive cost, have to search for the other sources, thus people in business, of managing risk. 4. Risk, the chance of loss, the probability of loss, refers to, and the amount of possible loss. 5. Speculative risk, a chance of either profit, involves, or loss. 6. An enterprise, through buying, making decisions to decrease, may earn additional funds, new machinery, considering options, the probability of loss. 7. Pure risk, the threat of loss, is defined as, with no chance for profit. 8. Business firms, very often, deal with pure risk. 9. Reducing the risk, to protect employees, is possible through, through providing health educa­tion, purchasing and using safety devices, from possible accidents, and equipment maintenance programs. 10. Self-insurance guarantees, that cannot afford conventional property, managing amount of loss, to those companies, or casualty policies.