Методические указания для студентов по дисциплине инстранный английский язык
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TEST II Accounting (Бухгалтерский учёт) General Definition of Accounting Today it is impossible to manage a business operation without accurate and timely accounting information. Managers and employees, lenders, suppliers, stockholders, and government agencies all rely on the information contained in two financial statements. These two reports - the balance sheet and the income statement- are summaries of a firm' activities during a specific time period. They represent the results of perhaps tens of thousands of transactions that have occurred during the accounting period. Accounting is the process of systematically collecting, analyzing, and reporting financial information. The basic product that an accounting firm sells is information needed for the clients. Many people confuse the accounting with bookkeeping. Bookkeeping is a necessary pail of accounting. Bookkeepers are responsible for recording (or keeping) the financial data that the accounting system processes. The primary users of accounting information are managers. The firm's accounting system provides the information dealing with revenues, costs, accounts receivables, amounts borrowed and owed profits, return on investment, and the like. This information can be compiled for the entire firm; for each product; for each sales territory, store, or individual salesperson; for each division or department; and generally in any way that will help those who manage the organization. Accounting information helps managers plan and set goals, organize, motivate, and control. Lenders and suppliers need this accounting information to evaluate credit risks. Stockholders and potential investors need the information to evaluate soundness of investments, and government agencies need it to confirm tax liabilities, confirm payroll deductions, and approve new issues of stocks and bonds. The firm's accounting system must be able to provide all this information, in the required form. The Basis for the Accounting Process The basis for the accounting process is the accounting equation. It shows the relationship among the firm's assets, liability, and owner's equity. Assets are the items of value that a firm owns - cash, inventories, land, equipment, buildings, patents, and the alike. Liabilities are the firm's debts and obligations - what it owes to others. Owner's equity is the difference between a firm's assets and its liabilities - what would be-left over for the firm's owners if its assets were used to pay off its liabilities. The relationship among these three terms is the following: Owners' equity = assets - liabilities. (The owners' equity is equal to the assets minus the liabilities). For a sole proprietorship or partnership, the owners' equity is shown as the difference between assets and liabilities. In a partnership, each partner's share of the ownership is reported separately by each owner's name, for a corporation, (he owners’ equity is usually referred to as stockholder’s equity or shareholders' equity. It is shown as the total value of its stock, plus retained earnings that have accumulated to date. By moving the above thee terms algebraically, we obtain the standard form of the accounting equation: Assets = liabilities + owners’ equity (The assets are equal to the liabilities plus (he owners' equity). А Вalanсе Sheet A balance sheet (or statement of financial position), is a summary of a firm's assets, liabilities, and owners' equity accounts at a particular time, showing the various money amounts that enter into the accounting equation. The balance sheet must demonstrate that the accounting equation does indeed balance. That is, it must show that the firm's assets are equal to its liabilities plus its owners’ equity. The balance sheet is prepared at least once a year. Most firms also have balance sheets prepared semiannually, quarterly, or monthly. An Income Statement An income statement is a summary of a firm's revenues and expenses during a specified accounting period. The income statement is sometimes called the statement of income and expenses. It may be prepared monthly, quarterly, semiannually or annually. An income statement covering the previous year must be included in a corporation's annual report to its stockholders. The Importance of the above Two Statements The information contained in these two financial statements becomes more important when it is compared with corresponding information for previous years, for competitors, and for the industry in which the firm operates. A number of financial ratios can also be computed from this information. These ratios provide a picture of the firm's profitability, its short-term financial position, its activity in the area of accounts receivables and inventory, and its long-term debt financing. Like the information on the firm's financial statements, the ratios can and should be compared with those of past accounting periods, those of competitors, and those representing the average of the industry as a whole. Exercises 1. Translate into Russian Accounting, bookkeeping; accounting information, lender; stock: stockholder; financial statement; balance sheet; income statements; assets; liabilities, owners’ equity; bond: debt; annual report; profitability; accounting period; return on investment; soundness of investment; issue of stocks and bonds; revenue; profit; account receivable; transaction; amount; own; owner; rely on; report; borrow; deal with; confirm: approve; provide; compare. 2. Find the English equivalents Бухгалтерский учёт, точная и своевременная информация, акционер, кредитор, ведомство, отчёт(доклад), балансовый отчёт, отчёт о доходах, отчётный период. счетоводство, финансовая информация, прибыль (доход), выгода (прибыль), прибыль на инвестированный капитал, дебиторская задолженность, обязательство, денежное обязательство (пассив), платёжная ведомость, акция (ценная бумага), активы, долг, счёт прибылей (и убытков), ежегодный отчёт, доходность, собственный акционерный капитал, одобрять, сравнивать, подтверждать, занимать (брать взаймы), обрабатывать (информацию). 3. Fill in the blanks 1. Managers, lenders, suppliers and government agencies rely on the information contained in two ... . 2. These two reports - the balance sheet and ... - are summaries of a firm's activities during a specific time period. 3. The basis for the accounting process is ... . 4. Assets are the ... that a firm owns. 5. Liabilities are the firm's debts and ... . 6. Owners’ equity is the difference between a firm's ... and liabilities. 7. A balance sheet is ... of a firm's assets' liabilities, and owners' equity accounts at a particular time. 8. A balance sheet must demonstrate that the accounting ... does ended balance. 9. An income statement is a summary of a firm's revenues and ... during a specific accounting period. 10. The information in these two financial statements becomes more important when it is ... with corresponding information for previous years or past ... periods. 4. Translate into English 1. Бухгалтерский учёт - это процесс систематического сбора и сообщения финансовой информации. 2. Балансовый отчёт и отчёт о доходах являются (are) основой процесса бухучёта. 3. Балансовой отчёт или отчёт о финансовом положении - это (is) обобщённый отчёт об активах фирмы, пассивах и собственном акционерном капитале. 4. Отчёт о доходах - это обобщённый отчёт о доходах и расходах за (during) конкретный отчётный период. 5. Основой процесса бухгалтерского учёта является бухучётное уравнение. 6. Согласно (according) бухучётному уравнению активы равны пассивам (денежным обязательствам) плюс собственный акционерный капитал. 7. Собственный акционерный каптал - это разность между активами и пассивами. 8. Балансовый отчёт должен показывать, что бухучётное уравнение сбалансируется. 9. Результаты (results) балансового отчёта должны сравниваться (be compared) с результатами за (for) прошлый отчётный период. 10. Эта информация даёт картину доходности фирмы, её финансового положения и её деятельности, в области (аrеа) дебиторской задолженности, товарных запасов и долгового финансирования. 5. Questions and assignments. 1. What is accounting? Give a short definition. 2. Is it possible to manage a business operation without accurate and timely accounting information? 3. Who needs accounting information? Explain why. 4. What is the basis for accounting process? 5. State the standard form of the accounting equation. 6. What is a balance sheet? Give a short definition. 7. What must a balance sheet show? 8. What is an income statement? 9. What can be computed from the information contained in a balance sheet and an income statement? 10. Do the ratios computed from this information provide a picture of a firm's profitability and its financial position? 11. Is this information for the competitors? TEST III Marketing 1. GENERALITIES One of the areas of management is marketing. Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. Marketing makes products available where customers want them by transferring the ownership of products to buyers. The entire business organization is involved in a dual process of satisfying customer needs and achieving organizational goals. Implementation of marketing concept begins and ends with marketing information about customers - first to determine what customers need, and later to evaluate how well the firm is meeting those needs. A market consists of people with their needs, the ability to buy, and the desire and ability to sell. Markets are classified as consumer and industrial markets. 2. A MARKETING MIX A business firm controls four important elements of marketing which are called a marketing mix. A firm's marketing mix is the combination of the product, the price of the product, the means for its distribution, and the promotion of the product to reach a firm's target market. A firm can vary its marketing mix by changing any one or more of these ingredients. Thus a firm may use one marketing mix to reach one target market and a second, somewhat different marketing mix, to reach another target market. For example, most automakers produce several different types of vehicles and aim them at different market segments based on age and income. 1) The product ingredient of the marketing mix includes decisions about the product's design, brand name, packaging, warranties, and the like. 2) The pricing ingredient includes both base prices and discounts of various kinds. Pricing decisions are intended to achieve particular goals, such as to maximize profit or even to make room for new models. The rebates offered by automobile manufacturers are a pricing strategy developed to boost low auto sales. 3) The distribution ingredient involves not only transportation and storage but also the selection of intermediaries. 4) The promotion ingredient focuses on providing information to target markets. The major forms of promotion include advertising and publicity. The "ingredients" of the marketing mix are controllable elements. A firm can vary each of them to suit its organizational goals, marketing goals, and target markets. 3. A MARKETING STRATEGY A marketing strategy is a plan for the best use of an organization's resources to reach its objectives. Developing a marketing strategy involves selecting and analyzing a target market and creating and maintaining a" marketing mix that will satisfy that market. A target market is chosen through the market segmentation approach. A market segment is a group of individuals or organizations within a market that have similar characteristics and needs. The market segmentation approach directs a marketing mix at a segment of a market. Market measurement and sales forecasting are used to estimate sales potential and predict product sales in specific market segments. Strategies are then monitored and evaluated through marketing research and marketing information system, which stores and processes internal and external data in a form suitable for marketing decision making. Exercises I. Translate into Russian. Pricing; distribution; promotion; goods and services; customer; ownership of products; buyer; seller; ability; consumer market; industrial market; target market; marketing mix; price of the product; promotion of the product; distribution; ingredient; product ingredient; pricing ingredient; distribution ingredient; promotion ingredient; market segment; segmentation approach; profit; rebate; pricing strategy; storage; transportation; intermediary; advertising; publicity; marketing research; income; marketing information system; internal and external data; evaluate; create; satisfy; involve (in); achieve; determine; buy; sell; reach; boost; meet needs; select; maintain; estimate; forecast; predict; monitor; produce; develop. II. Find the English equivalents. Процесс планирования; продвижение и распространение; товары и услуги; индивидуальные и организационные цели; наличный; потребитель; двойной процесс; потребительский рынок; целевой рынок; элементы маркетинга; продукция; составная часть (компонент); компонент продукта; ценовая составляющая; ценовая стратегия; рекламирование (в газетах); широкая реклама; скидка (уступка); скидка (с исходной цены); сегмент рынка; посредник; покупать; продавать; удовлетворять нужды; прогнозировать; определять; оценивать; достигать; производить; разрабатывать; достигать; выполнять. Ш. Fill in the blanks. 1. Marketing is the process of ... and ... the conception, pricing, promotion and distribution of ideas, goods, and services to create ... that satisfy individual and organizational objectives. 2. Markets are classified as ... and ... markets. 3. А ... ... is the combination of the product, its price, distribution, and promotion. 4. The ... ingredient of the marketing mix includes decisions about the product's design, brand name packaging, ..., and the like. 5. The major forms of the product promotion include ... and ... . 6. The distribution ingredient involves not only transportation and storage but also the selection of ... . 7. The ingredients of the marketing mix are ... elements. 8. A marketing strategy is a ... for the best use of organization's resources to meet its ... . 9. A market segment is a group of ... or ... within a market that have similar characteristics and needs. 10. Strategies are monitored and evaluated through marketing ... and ... ... . IV. Translate into English. 1. Рынок состоит из людей с их потребностями, способностью покупать и желанием и способностью продавать. 2. Маркетинг делает продукцию наличной там, где она нужна потребителям. 3. Комплекс маркетинга — это сочетание продукции, ее цены, средств распределения продукции и ее продвижения. 4. Основные виды продвижения продукции включают рекламирование (в газетах) и широкое оповещение. 5. Составляющая распределения включает не только перевозку и хранение, но также выбор посредников. 6. Составляющая ценообразования включает как базисные цены, так и различные скидки. 7. Развитие рыночной стратегии включает отбор и анализ целевого рынка, а также создание и поддержание элементов маркетинга, которые будут удовлетворять этот рынок. V. Questions and assignments. 1. Define the term marketing. 2. What does implementation of marketing concept begin and end with? 3. What does a market consist of? 4. Define the term a marketing mix. 5. Can a firm vary its marketing mix? 6. For what purpose may a firm vary its marketing mix? 7. Give an example when a firm changes its marketing mix. 8. List all the ingredients of the marketing mix. 9. What does a product ingredient include? 10. What means is used to boost low sales? 11. What do the major forms of a product promotion include? 12. What does developing a marketing strategy involve? 13. State the purpose for which market measurement and sales forecasting are used. 14. How are strategies monitored and evaluated? VI. Speak on the following. 1. Marketing (Generalities). 2. A Marketing mix. 3. A Marketing strategy. VII. Read and translate this newspaper article. ADVERTISING AND MARKETING IN THE FUTURE Fundamental changes take place in many industrial societies. The main factors are the following: The raw materials cost increases. Shortages and the high cost of raw materials produce an economic and moral pressure to avoid wastes. Advertising and marketing men can expect rapid changes in a variety of markets and industries. In energy, there will be a decrease in competitive advertising between the various types. We will probably see a switch to more educational advertising for coal, gas and electricity. Advertising campaigns will be directed towards eliminating waste rather than increasing consumption. In consumer durables there will be a move a way from planned obsolescence. Cars, for example, will be replaced every five to ten years rather than every three. Total consumer expenditure will fall and price will become an even more important factor. In manufacturing, smaller companies will be squeezed out of existing markets. In packaging, many products, like personal deodorants with their excessive use of raw materials, will change or disappear as paper and aluminum shortages push up the cost of packaging. As advertising budgets are cut, advertising agencies themselves will be involved even more into marketing and management consultancy. And in marketing, manufacturers will demand quicker returns on less capital investment. Innovations will be marketed much faster (and copied much faster by competitors). Brand life cycles will be much shorter. Agencies will have to be much faster in their response to marketing problems and work longer hours for less money. VIII. Retell the above article. |
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