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Методические подходы к анализу финансового состояния предприятия

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Служебные части речи. Предлог. Союз. Частицы

КАТЕГОРИИ:






Scan the text to determine whether these statements are true (T) or false (F), and if they are false say why.




e.g. In my opinion it is true that... / I’m afraid it is false that... because...

1.   If the business has debts and one of the partners dies, the others are barely responsible for his debts.
2.   Corporations are easy to organize, decisions can be made quickly, profits are shared with only a few people, and the owners are responsible for success or failure of the business.
3.   If the corporation goes bankrupt or is sued, the stockholders lose the value of their stock. They are personally responsible for any money the corporation owes.
4. Bonds represent ownership in the corporation.
5. In corporations with many owners or stockholders the individual share of profits in the form of dividends is comparatively small.

2.4.4 Match each of the phrases on the left with an appropriate explanation on the right. Use the grid below:

1. company (UK) / corporation (US) A a company whose shares are not publicly available
2. public company B an organization which is part of the state organisation
3. private company C an organization operating to make a profit
4. cooperative D a company which owns another
5. enterprise E a firm where shareholders’ liability is limited
6. government agency F firm owned by a parent company
7. limited company G documents showing income, expenditure, assets and liabilities, sales records, etc.
8. offshore company H two or more partners working together for profit, without limited liability
9. minority interest I a new commercial activity
10. parent company J cash items, or items that can easily be changed into cash for the present financial year
11. partnership K a company whose shares are publicly available
12. subsidiary (affiliate) L items of value which are not easily changed into cash but which the business needs.
13. company accounts M a firm based in a tax haven to avoid higher taxation
14. fixed assets N a democratic firm owned by its workers
15. current assets O company in which another firm has less than a 50% interest
                             
C                            

2.4.5 There are five main types of legally constituted company. Tick the correct characteristics for each business type, or write “possibly” if the characteristic could apply. Give a brief description of the companies:

  public limited company private limited company sole trader partnership co-operative
single individual owns a company          
two or more owners / directors          
quoted on stock exchange          
workers run the company          
unlimited liability          
limited liability          
owner is self-employed          

2.4.6 Scan the text again and find the English equivalents for the following:

A.

1. оборотный капитал, оборотные фонды, оборотные средства

2. мобилизовать необходимую сумму денег

3. устав акционерной компании

4. передача собственности

5. норма прибыли на акцию/ облигацию

6. единоличное владение (хозяйство)

7. нанимать и увольнять служащих

8. разрешенный к выпуску акционерный капитал

9. организации, вкладывающие средства в создание новых компаний, часто с повышенным уровнем риска

10. быть оштрафованным

11. имущество, активы, фонды, капитал, ресурсы компании

12. вести подробные учетные записи

13. нести ответственность в пределах инвестированного капитала

14. полное товарищество (с неограниченной имущественной ответственностью)

15. акционерная компания с ограниченной ответственностью (США)

16. выступать в качестве ответчика в суде

17. часть прибыли компании, распределяемая среди акционеров

18. ограниченная ответственность (акционера)

19. получить сертификат об инкорпорации (лицензию)

B.

В частной акционерной компании (private limited company) в Англии может состоять от двух до пятидесяти членов (в их число не входят те, кто в ней работает). Частная компания не должна направлять бухгалтерские отчеты в бюро по регистрации акционерных компаний (Registrar), но ежегодно заявляет туда о том, что она не предлагала общественности свои акции или облигации. Частная компания – это зачастую дело семейное, капитал для которого собран среди членов семьи, которые, вследствие этого, владеют акциями компании. Но акции могут передаваться другим лицам только с согласия правления компании. Конечно же, это большой минус для держателя акций частных компаний. Т.к. каждая акция обладает одним голосом, у него должен быть по меньшей мере 51% акций, чтобы получить большинство голосов, необходимое для разрешения передачи акций другому лицу. Акции публичной компании с ограниченной ответственностью (PLC – public limited company) могут свободно продаваться на бирже или в ходе частных переговоров.

PRACTICE

Language focus

2.5.1 a. Read the extract and fill in prepositions wherever necessary.
  b. Put a question to each of the sentences.
  c. Give the text the appropriate heading.

_________________________________

To operate the business successfully, the manager needs to make decisions that maximize the returns … the owners of the company. Such decisions range … buying supplies from high-quality, low-cost suppliers, … hiring … the best available workers, to investing … t he best available projects.

The first form of equity is owner’s capital. This is the most exposed form … capital since a return is received only … all other calls on a company’s profits have been satisfied. Then … an extreme case – bankruptcy – the owner’s equity will be repaid only … everyone else, including employees, creditors, banks, etc., has received what they are owed.

In successful times, the owners have a claim … all the net profit of the company. They can go … other sources … equity finance: firstly, venture capital (it is usually provided … venture firms interested … financing high-growth companies). However, the provider usually demands a much faster and higher rate … return than an owner would expect to form his /her own capital. … the other hand, the venture capital company doesn’t usually interfere … the running … the company.

 

2.5.2 a. Complete the text by using the following word combinations from the box and fill in the grid.
  b. Explain why, despite the technical and financial advantages of large firms, there are so many small firms.
  c. Make a list of advantages and disadvantages of small businesses in relation to large firms.

 

A a small percentage J to be dominated by
B to stimulate the supply side of the economy K the division of labour
C on advantageous terms L encourage
D exploit economies of scale M the unemployed
E reduce N benefit
F share of the market O a low rate of interest
G amounts of capital P have access
H capital Q the cost advantage;
I employ    

Small businesses are managed by their owner(s) and have a relatively small (1)…. Small manufacturing firms (2) … fewer than 200 people. Large firms are typically incorporated (limited companies), where ownership and management are separated. Large companies that (3) … enjoy a cost advantage over small firms in the same industry. In particular, large firms have access to the following technical and financial economies. Technical economies occur in the production of a good.

As the firm expands, there is greater scope for specialisation and (4) …. Large factories can employ specialist skilled workers to do the same job all day with no time lost in changing tools or doing unfamiliar tasks. The indivisibility of certain types of (5) … means that many production processes are impossible on a small scale. Large firms can (6) … by linking production processes that would otherwise be carried out in separate factories (a large manufacturer of shirts can (7) … transport costs by combining the weaving and cutting of cotton under the same roof).

Financial economies allow large firms to raise capital (8) …. Large firms are considered to be reliable and are therefore charged (9)… and (10) … to capital markets such as the stock exchange. Selling shares is a relatively inexpensive method of raising large (11) ….

Despite (12) … to large firms of producing in bulk, small businesses find a niche by providing specialized products for small markets (e.g. hairdressing cannot easily achieve a large scale of operation, and tends (13) … small firms). An irregular or limited demand for a product prevents mass production. Small firms have the required flexibility and low overheads. Often small firms survive by accepting subcontracting work from large companies. In printing, where fixed costs form only (14) … of total costs, low set-up costs (15) …the development of small firms. Where the market for a good is restricted and highly localized, small firms survive, e.g. village shops.

In an attempt (16) … the government has introduced a number of schemes to help small firms to survive: the Enterprise Allowance is a weekly sum paid to (17) … while they are setting up their own businesses; the Business Expansion Scheme provides relief against income tax to investors in unquoted companies.

 

                                 
                                 

Skills focus






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