1. She said that her corporation had become bankrupt and its stock was of no value anymore.
2. I asked her if shed like to take my pen but she thanked me.
3. He wanted to know if I was going to calculate the indirect costs.
4. My employer hoped I would not be offended if he told me that I would do better in some other kind of job.
5. He asked me how long it had taken me to complete the job.
6. I wondered whether he had bought a guidebook to London.
7. He asked what we were discussing.
8. I wondered if they would solve that problem at the meeting.
9. He asked the manager to accept his resignation.
10. She asked me when I would be in Kyiv.
11. The court ordered the company to pay all their debts before 1 September.
12. He wanted to know when the new training program would be presented.
13. She wondered where we had held the conference the previous year.
14. Helen asked Tom if he had got a car.
15. He promised her that if she attended the conference the following week, she would hear his new theory about classification of the costs.
16. He couldnt understand how I managed on my salary.
Ex.3. Rewrite the passage in Direct Speech.
Joan worked in a shop selling gramophone records. One day a middle-aged woman came in, sat on a stool in front of the counter and smiled at Joan. Addressing Joan familiarly, she said she wanted a record-one she had heard on the radio that morning. Joan asked what the record was called. The woman shook her head, and said she didnt remember, though she would know it if she heard it. She suggested that Joan should play her some. Joan pointed out that they had hundreds of records in stock, and that it would take a very long time to play her even a little of each. The woman looked very unhappy, but suddenly her face brightened. She had just remembered something, she said: the music she wanted came from a play in which there was a woman who spoke very badly, but who after a time learnt to talk beautifully. Joan asked if it could be from My Fair Lady. The woman cried out that that was it. She wished Joan had thought of it earlier instead of wasting time asking silly questions. She supposed Joan was new to the job.
(From B.D. Graver. Advanced English Practice,
Oxford University Press)
Speech and Discussion
Ex.1. Define the following terms:
s costs
s assets
s liabilities
Ex.2. Explain how a firm can define and calculate its costs.
Ex.3. Discuss with your groupmates which is more important for a business its assets or liabilities. Why?
Ex.4. Familiarize yourself with the following idioms. Consult your dictionary and translate the sentences into Ukrainian. Think of situations where you could use them.
1. Youd better not rely on him. When it comes to business hell show the white feather.
2. We were surprised at Jack turning up in our office. We saw him here once in a blue moon.
3. Stop arguing. Wed better read the paper. Here it is put in black and white.
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4. Its time we shut up shop.
5. Reading between the lines of Miss Prouts reference, I have the impression that her employer was not satisfied with her work, although he doesnt actually say so.
Ex.5. Comment on the following:
A small debt produces a debtor; a large one an enemy. (Syrus)
Lesson 2
Text: Raising Finance
Grammar: First Conditional
Terms to remember:
| raise finance (v) | ™ | |
| run costs (v) | ™ | , |
| financial reserves | ™ | |
| extra capital | ™ | |
| premises | ™ | ; |
| working capital | ™ | ; |
| preserve (v) | ™ | ; |
| cash flow | ™ | |
| time-lag | ™ | ; |
| retained profit | ™ | |
| borrowing | ™ | (); |
| grant | ™ | ; , ; |
| loan | ™ | |
| tax | ™ | |
| distribute (v) | ™ | ; |
| lender | ™ | , |
| leasing | ™ | , |
| hire purchase | ™ | |
| debt factoring | ™ | |
 share issue
share flotation
share offering
| ™ | , |
Raising Finance
All firms need capital to stay in business. Capital is the money that a company uses to operate and develop. As well as money for running costs such as wages, material and rent, companies need to have financial reserves. Extra capital may be needed to expand by buying new premises or developing new products. Firms may also need working capital to preserve cash flow through the business, for instance if there is tme-lag between producing goods and services and getting paid for them.
There are four main ways of obtaining capital:
s retained profit
s borrowing
s share issues
s government grants and loans
Retained profit is the amount of profit after tax that directors of a business decide not to distribute to their shareholders, but to keep within the business.
Borrowing money usually accounts for 20-30 percent of firms capital. There are several types of lenders to business: commercial banks, leasing, hire purchase, debt factoring, the Stock Exchange.
When companies raise finance by selling shares for the first time they make share issues, share flotations or share offerings.
The government has a variety of schemes which give grants or cheap loans to firms for certain purposes.
Exercises in Word Study
Ex.1. Form adjectives from the following nouns:
finance, business, profit, government, commerce, work, reserve.
Ex.2. Give the English for:
; ; ; , ; , ; ; ; ; ; 䳿; ; ; ; .
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Ex.3. Match words from list A with words from list B that have a similar meaning:
| A | B |
| share flotation creditor hire purchase shareholder profit obtain preserve buy expand | stockholder instalment plan lender share offering purchase earnings enlarge keep get |
Ex.4.Find suitable opposites to the following words:
borrowing, profit, to sell, cheap, lender.
Ex.5. Match the nouns in the left hand column with the verbs in the right hand column:
| capital loan finance | arrange repay take out raise supply apply for borrow invest lend |
