Kurs_anglyskogo_yazyka_dlya_finansistov

алкогольные напитки облагаются высокими налогами.

taxable ['t ks bl] adj облагаемый налогом, подлежащий обложению налогом

taxation [t k'se n] n налогообложение, взимание налогов taxation of income налогообложение доходов

double ['d bl] taxation двойное налогообложение equitable taxation справедливое налогообложение

progressive taxation налогообложение по прогрессивным ставкам to exempt [ g'zempt] from taxation освобождать от налогообложения to levy ['lev ] taxation облагать налогом

tax-free [ t ks'fri:] adj, adv необлагаемый налогом

You can live here tax-free. – Здесь можно жить, не платя налогов. trade [tre d] v осуществлять сделки с ценными бумагами

trader ['tre d ] n участник торгов на бирже

floor trader член биржи, непосредственно участвующий в торге за свой счет

trading ['tre d ] n торговля ценными бумагами

block trading торговля крупными пакетами ценных бумаг debt [det] trading торговля долговыми обязательствами

municipal trading операции с ценными бумагами местных органов власти security trading торговля ценными бумагами

transaction [tr n'z k n] n сделка

arbitrage ['a:b tra: ] transaction арбитражная сделка bank transaction банковская операция

carry-over transaction операция с контанго cash transaction сделка за наличный расчет clearing transaction клиринговая операция

closing transaction (бирж.) закрытие открытой позиции обратной операцией currency transaction валютная операция

forward transaction сделка на срок future transaction фьючерсная сделка option transaction опционная сделка

outright ['autra t] transaction сделка «аутрайт» (обычная срочная валютная сделка на межбанковском рынке)

spot transaction сделка с немедленным расчетом, наличная сделка swap [sw p] transaction сделка «своп»

to cancel a transaction аннулировать сделку

to carry out a transaction осуществить операцию to conclude/make a transaction заключить сделку to settle a transaction рассчитаться по сделке

trend [trend] n тенденция

downward trend тенденция к понижению, понижательная тенденция primary trend основная тенденция

upward trend тенденция к повышению

The trend is likely to continue. – Тенденция, по всей видимости, сохраняется.

valuation [ v lju'e n] n оценка

value [ 'v lju] n стоимость

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asset [' ss t] value номинальная стоимость активов
balance sheet value балансовая стоимость
book value балансовая стоимость
current value текущая стоимость
discounted value приведенная стоимость
face value номинальная стоимость
going concern value стоимость действующей фирмы
historical value стоимость приобретения
imputed [ mpju:t d] value условно начисленная стоимость
inventory value стоимость товарно-материальных запасов
present value приведенная стоимость
replacement value восстановительная стоимость
residual [r 'z u l] value остаточная стоимость
time value of money стоимость денег с учетом дохода будущего периода
value ['v lju:] v оценивать
Synonyms: to estimate, to appraise, to evaluate, to assess
valuer ['v lju ] n оценщик
CONTENTS
ПРЕДИСЛОВИЕ ...................................................................................................................................................................................	2
UNIT 1. ECONOMIC ENVIRONMENT ............................................................................................................................................	4
A. TEXT. WHAT IS ECONOMICS ALL ABOUT? ................................................................................................................................	4
B. DIALOGUE. 4BUSINESS CLIMATE IN RUSSIA ............................................................................................................................	4
..............................................................................................................................................................................................................	4
VOCABULARY LIST .........................................................................................................................................................................	6
EXERCISES .........................................................................................................................................................................................	8
DISCUSSION .....................................................................................................................................................................................	14
READING PRACTICE ......................................................................................................................................................................	17
UNIT 2. PUBLIC FINANCE ..............................................................................................................................................................	18
A. TEXT. FINANCE AND FINANCIAL SYSTEM ...............................................................................................................................	18
B. DIALOGUE. BUDGET ORGANIZATION AND BUDGET PROCESS ..........................................................................................	19
VOCABULARY LIST...........................................................................................................................................................................	20
EXERCISES ........................................................................................................................................................................................	23
DISCUSSION......................................................................................................................................................................................	28
READING PRACTICE ........................................................................................................................................................................	31
UNIT 3. FISCAL MANAGEMENT ...................................................................................................................................................	33
A. TEXT. FINANCIAL POLICY. FISCAL SPHERE ...........................................................................................................................	33
B. DIALOGUE. EFFECTIVE FISCAL POLICY.................................................................................................................................	34
VOCABULARY LIST...........................................................................................................................................................................	35
EXERCISES ........................................................................................................................................................................................	36
DISCUSSION......................................................................................................................................................................................	41
READING PRACTICE ........................................................................................................................................................................	45
UNIT 4. CENTRAL BANKING. MONETARY POLICY ................................................................................................................	48
A. TEXT. CENTRAL BANKING SYSTEM...........................................................................................................................................	48
B. DIALOGUE. BANKING SYSTEM IN RUSSIA ...............................................................................................................................	49
VOCABULARY LIST...........................................................................................................................................................................	50
EXERCISES ........................................................................................................................................................................................	52
DISCUSSION......................................................................................................................................................................................	57
READING PRA CTICE .......................................................................................................................................................................	61
UNIT 5. BANKING SYSTEM .............................................................................................................................................................	65
A. TEXT. COMMERCIAL BANKS ......................................................................................................................................................	65
B. DIALOGUE . INTERVIEW WITH A BANK MANAGER ................................................................................................................	65
VOCABULARY LIST...........................................................................................................................................................................	67
EXERCISES ........................................................................................................................................................................................	68
DISCUSSION......................................................................................................................................................................................	74
READING PRACTICE ........................................................................................................................................................................	78
UNIT 6. TAXATION ............................................................................................................................................................................	81
A. TEXT. WHAT ARE TAXES? ...........................................................................................................................................................	81
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B. DIALOGUE. TAXATION IN RUSSIA.............................................................................................................................................	82
VOCABULARY LIST...........................................................................................................................................................................	83
EXERCISES ........................................................................................................................................................................................	84
DISCUSSION......................................................................................................................................................................................	89
READING PRACTICE ........................................................................................................................................................................	93
UNIT 7. INTERNATIONAL MONETARY SYSTEM.....................................................................................................................	94
A. TEXT. INTERNATIONAL MONETARY INSTITUTIONS ...............................................................................................................	94
B. DIALOGUE. IMF'S SUPPORT FOR RUSSIAN REFORMS ..........................................................................................................	95
VOCABULARY LIST...........................................................................................................................................................................	96
EXERCISES ........................................................................................................................................................................................	97
DISCUSSION....................................................................................................................................................................................	102
READING PRACTICE ......................................................................................................................................................................	105
UNIT 8. FINANCIAL MARKETS. THE BOND MARKET ..........................................................................................................	108
A. TEXT. TRADING IN THE BOND MARKET ................................................................................................................................	108
B. DIALOGUE. THE BOND MARKET ............................................................................................................................................	109
VOCABULARY LIST.........................................................................................................................................................................	109
EXERCISES ......................................................................................................................................................................................	110
DISCUSSION....................................................................................................................................................................................	115
READING PRACTICE ......................................................................................................................................................................	118
UNIT 9. FINANCIAL MARKETS. THE STOCK MARKET........................................................................................................	120
A. TEXT. STOCKS AND MARKETS .................................................................................................................................................	120
B. DIALOGUE. THE CORPORATE SECURITIES MARKET IN RUSSIA.......................................................................................	121
VOCABULARY LIST.........................................................................................................................................................................	122
EXERCISES ......................................................................................................................................................................................	123
DISCUSSION....................................................................................................................................................................................	128
READING PRACTICE ......................................................................................................................................................................	132
UNIT 10. INVESTMENT ACTIVITY ..............................................................................................................................................	134
A. TEXT. INVESTMENTS .................................................................................................................................................................	134
B. DIALOGUE. INVESTMENT CLIMATE .......................................................................................................................................	135
VOCABULARY LIST.........................................................................................................................................................................	135
EXERCISES ......................................................................................................................................................................................	136
DISCUSSION....................................................................................................................................................................................	141
READING PRACTICE ......................................................................................................................................................................	144
UNIT 11. FOREIGN EXCHANGE MARKET. GLOBAL FINANCIAL MARKETS.................................................................	145
A. TEXT. TRADING IN THE FOREIGN EXCHANGE MARKET ....................................................................................................	145
B. DIALOGUE. CORNERSTONE OF THE GLOBAL FINANCIAL MARKET ................................................................................	146
VOCABULARY LIST.........................................................................................................................................................................	147
EXERCISES ......................................................................................................................................................................................	148
DISCUSSION....................................................................................................................................................................................	153
READING PRACTICE ......................................................................................................................................................................	155
UNIT 12. FINANCIAL MANAGEMENT .......................................................................................................................................	156
A. TEXT. FINANCE FUNCTION......................................................................................................................................................	156
B. TEXT. FINANCIAL RATIOS ........................................................................................................................................................	157
C. DIALOGUE. RATIO ANALYSIS ..................................................................................................................................................	158
VOCABULARY LIST.........................................................................................................................................................................	159
EXERCISES ......................................................................................................................................................................................	160
DISCUSSION....................................................................................................................................................................................	165
READING PRACTICE ......................................................................................................................................................................	169
UNIT 13. ACCOUNTING..................................................................................................................................................................	170
A. TEXT. ACCOUNTING PRINCIPLES AND CONCEPTS .............................................................................................................	170
B. DIALOGUE. ACCOUNTANCY IN A FREE-MARKET ECONOMY ............................................................................................	171
C. DIALOGUE. PUBLIC AND PRIVATE ACCOUNTANTS............................................................................................................	171
VOCABULARY LIST.........................................................................................................................................................................	172
EXERCISES ......................................................................................................................................................................................	174
DISCUSSION....................................................................................................................................................................................	179
READING PRACTICE ......................................................................................................................................................................	183
UNIT 14. AUDITING .........................................................................................................................................................................	188
A. TEXT. PERFORMING AN AUDIT...............................................................................................................................................	188
B. DIALOGUE. AUDITING IN RUSSIA...........................................................................................................................................	189
VOCABULARY LIST.........................................................................................................................................................................	190
EXERCISES ......................................................................................................................................................................................	192
DISCUSSION....................................................................................................................................................................................	197
READING PRACTICE ......................................................................................................................................................................	200
BANKING CORRESPONDENCE......................................................................................................................................................	201
DICTIONARY OF KEY WORDS.....................................................................................................................................................	211
Contents ...............................................................................................................................................................................................	232
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