текст по английскому стр

1.7. Find English equivalents for the following Russian phrases from the text:

1) Ключевой элемент экономической системы; 2) финансовые результаты хозяйственной деятельности субъекта; 3) сделки, в которые вступают различные

организации; 4) получение, обработка и передача информации; 5) работать с прибылью; 7) выполнять свои обязательства; 8) бухгалтерское равенство; 9) активы

должны быть равны пассивам; 10) учет по принципу двойной записи; 11) составлять баланс; 12) счет прибылей и убытков.

Text 4 THE FINANCIAL CONTROL OF THE BUSINESS

Financial control means the directing and monitoring of the financial resources within the business. In order to make financial control possible it is first necessary to set objectives and targets within which each department is expected to work. The process is known as budgeting and is central to financial management.

Essentially a budget is a financial expression of intentions or expectations. Budgeting occurs at several levels within the business and over different time scales. However, common to all budgets is that they relate to the future and that they are therefore based upon forecasts rather than facts. This is in contrast to the balance sheet and the profit and loss account, which relate to the businesses past performance.

The preparation of a budget consists of a number of stages, which can be expressed as the following sequence.

1.Information. A department will start its budgetary process by looking at the information relating to its present situation. For example, in the case of the Sales Department this means analyzing the current sales figures, identifying trends and taking care to interpret any figures, which may be result of unusual circumstances.

2.Forecasts. The next stage is to look forward to the period under consideration and try to estimate as accurately as possible the situation, which will prevail in the future, estimate the amount of business is likely to sell over the coming year. Experience will be of great help here but other techniques may also be employed, e.g. market research and statistical analysis. Where accurate predictions are difficult to make it is common to prepare more than one set of forecasts, e.g. an optimistic forecast and a more pessimistic one.

3.Objectives. Once a business has framed its various forecasts, e.g. production, sales, marketing and so on, then it is possible to set realistic performance objectives. These will

31

normally take the form of a series of targets that each department is expected to meet, e.g. how much is to be produced, the increase in sales the business is aiming for, etc.

4. The budget. The final stage of the process is to budget to meet the business’s performance targets. This means setting out the level of expenditure within which each department or sub-department (usually known as cost centers) will have to work. The materials budget will be agreed on the basis of the production targets, the marketing budget on the basis of the sales target and so on. It is very important that all the various parts of the budget are carefully coordinated. It obviously makes no sense to budget to sell 100,000 units if a production target of only 80,000 has been set. Therefore, at each stage of the budgetary process close interdepartmental consultation will be necessary.

Once the budget has been set up there must be sufficient funds flowing into the business to meet the necessary expenditures incurred during its day-to-day trading activities. This process is called a continual flow of money through the business.

The sale of business’s goods (or services) generates finance which is used to purchase more materials, pay wages and so on in order to generate more production, more sales and hence more income. Provided income from sales is sufficient to meet these necessary immediate expenditures then the business can continue to trade.

The business is said to be solvent. If the business is successful then the amount received from sales will be greater than the costs of production and therefore a profit will be made. The profit then can be used to reward the owners and possibly improve or expand the business in order to generate higher profits in the future.

The items which change continually during the normal trading activities of the business are known collectively as the business’s working capital. Working capital can be defined as the current assets available to the business minus any current liabilities on these assets.

Current liabilities are the short-term debts of the business which will have to be paid in the near future from current assets. The items making up current liabilities are the various sums owed to the business’s creditors.

To ensure the efficient operation of the business, working capital needs to be carefully managed. This involves a system of stock control, a debtor policy and cash flow forecasting.

Businesses require finance for a wide variety of reasons and most businesses can obtain finance from a number of different sources. Therefore, decisions have to be made regarding the most appropriate source of finance. The provision of advice concerning the best method of financing different aspects of business activity is one of the key responsibilities of the

32

Finance Department. When considering which method of finance is most suitable for any type of business activity, a number of factors must be taken into account:

1.The purpose for which finance is required. The reason a business requires finance – the application of funds – is often the most important factor in determining how the finance will be obtained – the source of funds. This means that funds required to bridge a temporary cash flow problem are likely to be sought from a different source than funds for capital expansion.

2.The cost of the finance. Certain types of finance are expensive to raise, e.g. an issue of new shares. Other forms of finance can be expensive to service, e.g. interest charges on borrowed funds. The various costs must be carefully considered to ensure the business is obtaining its finance as cheaply as possible.

3.The availability of finance. Some sources of finance are not available to all businesses and this restricts the choice of funding.

4.How quickly the finance is required. If the funds are needed immediately, e.g. to supplement cash flow, then the choice is likely to be restricted to a small number of sources, e.g. a bank overdraft. The more time the business has to plan for its financial needs, the wider the choice will be.

Finally, it should be noted that the larger the business, the greater the number of possible sources of funds available. Small firms face particular difficulties in raising the finance they need. This is one of the major reasons preventing the growth and development of such businesses.

1.8.Answer the questions:

1.What does the term “financial control” mean?

2.What are the main advantages of budgeting the business?

3.What factors are to be taken into account while choosing the method of finance?

4.What are the main stages of budget preparation?

5.Why is the interdepartmental consultation necessary at all stages of budgetary process?

6.Why is the process of budgeting considered central to the financial management?

7.What is common to all budgets?

8.In what cases can the realistic performance objectives be set?

9.What problems do small businesses face?

10. Why is it necessary to prepare more than one set of forecasts concerning the business’s expected performance?

11. Why some sources of finance are not available to all business?

33

12. What is the major reason preventing the growth and development of small businesses?

Text 5 SHOES

A shoe is an item of footwear intended to protect and comfort the human foot while doing various activities. Shoes are also used as an item of decoration. The design of shoes has varied enormously through time and from culture to culture, with appearance originally being tied to function. Additionally fashion has often dictated many design elements, such as whether shoes have very high heels or flat ones. Contemporary footwear varies widely in style, complexity and cost. Basic sandals may consist of only a thin sole and simple strap. High fashion shoes may be made of very expensive materials in complex construction and sell for thousands of dollars a pair. Other shoes are for very specific purposes, such as boots specially designed for mountaineering or skiing.

Shoes have traditionally been made from leather, wood or canvas, but are increasingly made from rubber, plastics and other petrochemical-derived materials.

Parts:

-Sole. The bottom of a shoe, the part that is intended to come in repeated contact with the ground, is called the sole. Soles have been made from plant fibers, leather, wood, rubber, synthetics, plastic, and various combinations of these materials. Soles can be simple, a single material in a single layer, or they can be complex with multiple structures or layers and materials. Soles, which were once hand-stitched on, are now more often machine stitched or simply glued on.

-Heel. The bottom rear part of a shoe is the heel. Its function is to support the heel of the foot.

They are often made of the same material as the sole of the shoe. This part can be high for fashion or to make the person look taller, or flat for a more practical and comfortable use.

-Vamp (upper). Every shoe has an upper part that helps hold the shoe onto the foot. In the simplest cases, such as sandals or flip-flops, this may be nothing more than a few straps for holding the sole in place. Closed footwear, such as boots, trainers and most men's shoes, will have a more complex upper. This part is often decorated or is made in a certain style to look attractive.

-Welt. A welt is a strip of leather, rubber, or plastic that is stitched to the upper and insole of a shoe, as an attach-point for the sole.

Types:

34

-Dress and casual. Dress shoes are characterized by smooth and supple leather uppers, leather soles, and narrow sleek figure. Casual shoes are characterized by sturdy leather uppers, non-leather outsoles, and wide profile.

The majority of dress shoes have an upper covering, commonly made of leather, enclosing most of the lower foot, but not covering the ankles. This upper part of the shoe is often made without apertures or openings, but may also be made with openings or even itself consist of a series of straps, e.g. an open toe featured in women's shoes. Shoes with uppers made high to cover the ankles are also available; a shoe with the upper rising above the ankle is usually considered a boot but certain styles may be referred to as high-topped shoes or high-tops. Usually, a high-topped shoe is secured by laces or zippers; although some styles have elastic inserts to ease slipping the shoe on.

-Athletic. Men's and women's athletic shoes often have less difference between the sexes than in dress shoes. Function is more important than style. For example, climbing shoes are designed for rock climbing. They typically have a close fit, little if any padding, and a smooth sticky rubber sole with an extended rubber rand. Hiking shoes or boots: usually have a high somewhat stiff upper with many lace eyelets, to provide ankle support on uneven terrain, with extra large traction on the sole. Cycling shoes are equipped with a metal or plastic cleat to interface with pedals, as well as a stiff sole to maximize power transfer and support the foot.

-Men's, woman’s and unisex. Unisex shoes are worn both by men and women. For example, there are sandals (open shoes consisting of a sole and various straps, leaving much of the foot exposed to air), moccasins (originated by Native Americans, a soft shoe without a heel and usually made of leather), and slippers (for indoor use, commonly worn with pajamas) and so on. There is a large variety of shoes available for women:

High-heeled footwear is footwear that raises the heels, typically 2 inches (5 cm) or more above the toes, commonly worn by women for formal occasions or social outings. Variants include kitten heels (typically 1½-2 inches high) and stiletto heels (with a very narrow heel post) and wedge heels (with a wedge-shaped sole rather than a heel post).

Sneaker boot or sneaker pump: a shoe that looks like an athletic shoe, but is equipped with a heel, making it a kind of novelty dress shoe.

Mules are shoes or slippers with no fitting around the heel (i.e. they are backless).

Sling backs are shoes which are secured by a strap behind the heel, rather than over the top of the foot.

35

Ballet flats, known in the UK as ballerinas, ballet pumps or skimmers, are shoes with a very low heel and a relatively short vamp, exposing much of the instep. They are popular for warmweather wear, and may be seen as more comfortable than shoes with a higher heel.

Court shoes, known in the United States as pumps, are typically high-heeled, slip-on dress shoes.

The world’s shoe industry is going through an era of great change from the materials it uses, to t he methods of manufacture and throe the whole chain of events until the shoes reach the wearer.

1.9.Answer these questions:

1.Why do people wear shoes?

2.What man-made materials are used in shoe manufacturing?

3.What are dress shoes characterized by?

4.What is a vamp?

5.What varieties of women’s shoes can you name?

6.Could you describe ballet pumps?

7.What athletic shoes do you know?

1.10.Decide whether each statement is true or false. Correct the false statements.

1.A sole is an upper part that helps hold the shoe onto the foot.

2.Dress shoes have an upper covering, commonly made of leather, enclosing most of the lower foot, but not covering the ankles.

3.Shoes have traditionally been made from rubber, plastics and other petrochemicalderived materials.

4.Fashion often dictates design elements of the shoes.

5.Leather was the primary material in earlier styles.

6.Soles are now hand-stitched on.

7.Climbing shoes have a close fit, little or no padding, and a smooth sticky rubber sole.

Text 6 HOTEL RESTAURANTS

A hotel may have several restaurants or no restaurant at all; the number and type of restaurants varies as well. A major chain hotel generally has two restaurants: a signature or upscale formal restaurant and a casual coffee-shop type of restaurant. These restaurants cater to both hotel guests and to the general public. In recent years, because of increased

36

guest expectations, hotels have placed greater emphasis on food and beverage preparation and service. As a result, there is an increasing need for professionalism on the part of the hotels' personnel. Hotel restaurants are run by restaurant managers in much the same way as other restaurants. Restaurant managers are generally responsible for the following:

•Exceeding guest service expectations

•Hiring, training, and developing employees

•Setting and maintaining quality standards

•Marketing

•Room service, minibars, or the cocktail lounge

•Presenting annual, monthly, and weekly forecasts and budgets to the food and beverage director.

Some restaurant managers work on an incentive plan with quarterly performance bonuses.

Hotel restaurants present the manager with some interesting challenges because hotel guests are not always predictable. Sometimes they will use the hotel restaurants, and other times they will dine out. If they dine in or out to an extent beyond the forecasted number of guests, problems can arise. Too many guests for the restaurants results in delays and poor service. Too few guests means that employees are underutilized, which can increase labor costs unless employees are sent home early. Fortunately, over time, a restaurant manager keeps a diary of the number of guests served by the restaurant on the same night the previous week, month, and year. The number and type of hotel guests (e.g., the number of conference attendees who may have separate dining arrangements) should also be considered in estimating the number of expected restaurant guests for any meal. This figure is known as the capture rate, which, when coupled with historic and banquet activity and hotel, occupancy will be the restaurant's basis for forecasting the number of expected guests. Most hotels find it difficult to coax hotel guests into the restaurants. However, many continuously try to convert food service from a necessary amenity to a profit center. The Royal Sonesta in New Orleans offers restaurant coupons worth $5 to its guests and guests of nearby hotels. Another successful strategy, adopted by the Plaza Athenee in New York, is to show guests the restaurants and explain the cuisine before they go to their rooms. This has prompted most guests to dine in the restaurant during their stay. At the Sheraton Boston Hotel and Towers, the restaurants self-promote by having cooking demonstrations in the lobby: The «on-site» chefs offer free samples to hotel guests.

37

Progressive hotels, such as the Kimco Hotel, in San Francisco, ensure that the hotel restaurants look like free-standing restaurants with separate entrances. They also charge the restaurants rent and make them responsible for their own profit and loss statements.

Compared with other restaurants, some hotel restaurants offer greater degrees of service sophistication. This necessitates additional food preparation and service skills and training.

Compared to free-standing/independent restaurants, it is more difficult for hotel restaurants to operate at a profit. They usually are open from early morning until late at night and are frequently underpatronized by hotel guests who tend to prefer to eat outside of the hotel at independent restaurants occupancy, will be the restaurant's basis for forecasting the number of expected guests.

1.11. Match each word on the left with the correct definition on the right:

1) upscale	a) conservative in style, and suitable for official or serious situations or
	occasions
2) amenity	b) gently persuade someone to do something
3) formal	c) provide people with everything they want or need
4) charge	d) something that makes it comfortable or enjoyable to live or work somewhere
5) cater	e) 1/ a particular style of cooking food, especially the style of a particular
country or region; 2/ the food you can eat in a particular place, especially in a restaurant
6) cuisine	f) designed for people who have a lot of money
7) coax	g) ask someone to pay an amount of money for something you are selling to
	them or doing for them

1.12. Use proper words and phrases in the box to complete the sentences:

explain the cuisine; food service; service sophistication; hotel guests; a casual coffeeshop type; the number of guests

1.Hotel restaurants cater to both ________ and to the general public.

2.Large hotels have two restaurants: an upscale restaurant and ________of restaurant.

3.The capture rate is a reliable basis for forecasting _______ expected in the restaurant.

4.It is a good idea to show guests the restaurants and ________ before they go to their rooms.

5.A greater degree of _______ demands additional food preparation and service skills and training.

6.Most hotels try to convert ________ from a necessary amenity to a profit center.

38

1.13. Say whether the following statements are true or false:

1.Unlike free-standing restaurants, hotel restaurants are run by restaurant managers.

2.It is rather hard for hotels to coax hotel guests into the restaurants.

3.Both hotel restaurants and free-standing restaurants have separate entrances and exits.

4.Since hotel guests are quite predictable, restaurant managers are not faced with problems.

5.Hotels will operate at a profit if most guests prefer to dine in the restaurant during their stay.

6.Free-standing restaurants offer greater degrees of service sophistication in comparison with hotel restaurants.

7.It is restaurant managers who are generally responsible for hiring and training employees.

8.Some hotels make the restaurants responsible for their own profit and loss statements.

9.If all guests always dine out, no problems can arise.

10.Compared to hotel restaurants, it is more difficult for free standing (independent) ones to operate at a profit.

UNIT II. Reading and Writing Section

BUSINESS LETTERS

The elements of business letters used in commercial activity and their layout are similar to those of private letters. Here you can find the information of some types of the business letters.

Text 1 Enquiry letters

Most letters of enquiry are short and simple. As a prospective buyer, the writer of an enquiry states briefly and clearly what he is interested in. The first letter sent to a supplier with whom you have not previously done business should include:

a)A brief mention of how you obtained your potential supplier's name. You may have seen the goods in question at an exhibition or trade fair; you may be writing as the result of a recommendation from a business associate, or on the basis of an advertisement in the daily, weekly or trade press.

b)Some indication of the demand in your area for the goods which the supplier deals in.

c)Details of what you would like your prospective supplier to send you. Normally you will be interested in a catalogue, a price list, discounts, methods of payment, delivery times, and samples.

39

Useful phrases:
1. We are interested in…and would ask		- Мы заинтересованы в… и просили бы
you to send us your offer (quotation) for		Вас выслать нам Ваше предложение
these goods (for this equipment).		(котировку) на эти товары
		(это оборудование).
2. We are in the market for…	-	Мы намереваемся купить…
3. We are regular buyers of…	-	Мы являемся постоянными
		покупателями…
4. Please send us samples of your		- Просим Вас выслать нам образцы
goods stating your lowest prices and		Вашего товара с указанием Ваших
best terms of payment.		крайних цен и лучших условий платежа.
5. Please inform us by return at what		- Просим Вас сообщить нам обратной
price, on what terms and when you		почтой, по какой цене, на каких условиях
could deliver…		и в какой срок Вы могли бы поставить…
6. Please let us know		- Просим Вас сообщить нам, сможете ли
if you can offer us…		Вы предложить нам…
7. We have received your address from…		- Мы получили Ваш адрес от…
8. We’d be obliged if…		- Мы были бы обязаны, если бы…
9. We look forward to hearing from you soon. - С нетерпением ожидаем Вашего
		ответа в ближайшем будущем.
10. Your prompt (early) reply will be appreciated.- Мы будем Вам благодарны за Ваш
		скорый ответ.
2.1. Read, translate and answer the questions:
		BARKERS plc
		46 Kensington Road London SW37PM
		tel: [phone]; fax: [phone]
		WM/ OP
RUSSIAN FABRICS OAO		30th January 2010
78 Leningradskiy prospect
Moscow 120437 Russia
Dear Sir/ Madam

We learnt from the Russian Trade Delegation in London that you produce for export cotton and other natural fabrics. There is a steady demand here for good and medium quality goods

40