new insights into business ocr small (835551), страница 17
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Right, how can I help you?Steve: Well, we've had a few problems here in the European office so I've decided tostay and book a later flight. Now I 2__________ (leave) on the 5th, not the3rd.Bob: Actually that suits me better, that way I 3__________(have) time to finish themonthly sales figures before you come.Steve: Good, I think we 4_________ (need) to have a look at those together.Bob: Don't forget, we 5_________ (visit) the Melbourne office when you're here.Steve: I haven't forgotten, I'm sure it 6__________(be) interesting to see how theyrun their operation. OK, see you next month.Bob: Looking forward to it. Bye.Steve: Bye.91u n it nineDescribingtrendsUnit 1 looked at some of the nouns and verbs used to describe changes in price,quantity and amount, for example:NounVerbto increaseto riseto decreaseto dropto fallan increasea risea decreasea dropa fallThese can be qualified with an adjective or adverb to describe a change moreprecisely.
Complete the table.AdjectivePracticeUsed to show a small change:a slightUsed to show a regular movement:b gradualc steadyUsed to show considerable, striking orunexpected change:d sharpe dramaticf suddenAdverbSlcgbLlijComplete the descriptions of the following graphs using an appropriateadjective or adverb.P ric e sPrices rose 1 sL ead itjfrom February to October,before falling 2___________in November.£201816141210)I n f l a t io nFMAMJJASONDJ%7.06.86.66.46.26.0JFMAMJJASONDJInflation rose 3___________ in March, before beginning its 4___________ descent totoday's figure of 6.5%.92Import Export UN o o f u n its22p ro d u c e d( in t h o u s a n d s )201816141210199519961997199819991998 saw a 5___________ drop in production, followed by a 6___________ recoveryin 1999.2 W hich parts of the following graph w ould you talk about using each of theseexpressions?a to fluctuate May bo Sepd to reach a peakb to level offe to stand atc to remain stable105JanFebM arAprM ayJunJulAugSepO ctNovDec3 Join expressions from each box to m ake sentences about the graph.12345SalesSalesSalesSalesSalesreached a peak —fluctuatedremained stablestood atlevelled off\^ —_abcde10,000 in December.from September to November.of 11,000.at about 8,000 in April.from May to September.93unit nineSkills FocusWritingWrite a short description of Finnish paper exports to Japan between 1987 and1997 using the following graph.markkaa (millions)Finland's paperexports to JapanИListen to a description of the graph above and complete the text.In 1987 the export figures 1sLood oh 400 m Finnish markkaa.
There was a2__________between 1987 and 1989 when figures3_________ over 800 m. Thiswas followed by a 4__________between 1989 and 1990 when Finnish paperexports to Japan 5__________to 400 m. There was a 6between1990and 1991 when exports hit the 450 m mark but they 7__________again to 400 min 1992. Between 1992 and 1995 there was a 8__________and exports of paperto Japan 9__________of 1,300 m in 1995, before 10__________again to under1,000 m in 1997.15ЁЭ1 Listen to descriptions of other Finnish exports to Japan and complete thefollowing graphs.Finland's won exports to JapanFinland's machinery exports to JapanFinland's chemical exports to Japanmarkkaa (millions)markkaa (millions)markkaa (millions)1400ррн019909491929394959697Import ExportSpeaking1 Work in pairs.
You will each study a graph showing US trade from August1996 to August 1998. Student A, look at the graph below. Student B, turn topage 160.Student AThe graph below shows US imports of goods and services from August 1996 toAugust 1998. Describe the information to Student В using the language youhave learnt in this unit.
Then listen to Student B's description of US exports forthe same period and complete the graph using a different colour.US In te rn a tio n a l Trade in Goods and ServicesBillions $August 9 6August 9 7August 9 8A country's balance o f trad e is the difference between the values of itsimports and exports. This includes visible im ports / exports (goods) andinvisible im ports / exports (services). If a country imports more than itexports, it has a tra d e deficit. If it exports more than it imports, it has atrad e surplus.Look at the graph in Speaking 1.1 Did the US have a trade deficit or surplus?2 In pairs, calculate the balance of payments for the following periods.a May 1997 defLccfc.
o f :$Я bnb October 1997c March 19983 a When did the US have the lowest deficit in the period from August 1996to August 1997?b When did the US import the most?c When did the US export the most?95unit10Key vocabulary [§g]96Company PerformanceCompanies need to know how they are performing in order to analyse problems, findsolutions and make plans for the future. M anagem ent accounts provide data aboutoperational efficiency and financial accounts give information about financialperformance.
These tell the company not only how much it is selling, or how muchrevenue it is receiving, but also what its costs are - how much it has to pay for thedifferent things that it needs in order to operate. With this information a company canthen calculate how much money it has made (profits) or how much it has lost(losses) during a specific period. Listed companies, whose shares are sold on thestock exchange, have to present their accounts to the public in an annual report.Company PerformanceLead-in1 With the increasing complexity of the modern business world, companiesoften need to seek the advice of specialist consultants, such asPricewaterhouseCoopers, who can help them improve their performance andprepare for the future.Match the departments of PricewaterhouseCoopers below with their functions.1234FASMCSTLSABAS(Financial Advisory Services)(Management Consulting Services)(Tax and Legal Services)(Assurance Business Advisory Services)abcdcheck company accountsprovide advice on financeadvise on performanceprovide taxation adviceYou will hear four managers from PricewaterhouseCoopers describing theservices their departments provide.
Before you listen, decide which departmenta client would contact to1 arrange for an evaluation of its administration.MCS2 obtain advice about new VAT laws.3 decide what to do about a subsidiary company that islosing money.4 look at ways of improving its computer network.5 decide which aspects of the business to concentrate on inthe future.6 find out the value of a company.7 certify that the annual accounts are accurate.1^ 1Listen to the managers and check your answers.Read the text below and answer the questions.1 What is the purpose of an annual report?2 What are stakeholders?W hat’s anannual report?An annual report is prepared by the management of a company whosestock is traded publicly. It discusses the company's financial affairs.
Anannual report performs a useful function in a free market system,transmitting information from the company to its shareholders andinvesting public. Although the report is addressed to shareholders,other people who have a stake in the business - stakeholders such asemployees, suppliers, customers, and lenders - will find it informative.MTS Employee Supplement to the 1994 Annual Report97u n it tenReadingRead the text and m atch the headings to the paragraphs.Paragraphs 1-5Paragraphs 6-10Report of managementAuditor's reportManagement discussionFinancial statements and notesSelected financial dataFinancial highlightsLetter to stockholdersCorporate messageBoard of directors and managementStockholder informationAnatomy o f an annual rep o rtWhile most annual reports contain optional elements, all reports contain information required by the Securities ExchangeCommission or SEC, the commission that controls and administers the activities of US stock exchangesSEC-required elements include:1 A u d i.
L o r ?sreportsThis sum m ary by independentpublic accountants shows w hether the financial statem entsare complete, reliable, and prepared consistent withgenerally accepted accounting principles (GAAP).2 R e p o rt, o f ro a r\q 0 em er\L This letter, usually from theboard chairperson and the chief financial officer, takesdiscusses and analyzes the company’s performance.
Itcovers results of operations, and the adequacy* of resourcesto fund operations.Optional elements include:responsibility fo r the validity* of the financial inform ation in6the annual report, and states th a t the re p o rt complies w iththe company’s board of directo rs and top management team.SEC and o ther legal requirem ents.Sometimes companies include photographs.37 ___________ This inform ation covers the basics - the__________ These provide the complete num bers fo r the___________ This list gives the names and position title s ofcompany’s financial perform ance and recent financialcompany’s headquarters, the exchanges on which thehistory. The SEC requires:company trades its stock, the next annual stockholders’• Statem ent of earnings*meeting, and oth er general stockholder service inform ation.The statem ent o f earnings shows how much revenue aIt is usually in the back of the annual report.company brings into the business, and the costs and8expenses associated w ith earning th a t revenue during th a tboard of directors, the chief executive officer, o r both.
It cantime.provide an analysis and a review of the year’s events,___________ This may be from the chairperson of the• Statem ent of cash flow s*including any problem s, issues, and successes the companyThe statem ent of cash flows reports the flow of cash intohad. It usually reflects the business philosophy andand out of a company in a given year. Cash is a company’smanagem ent style of the company’s executives, and it oftenlifeblood*. Cash includes currency and deposits in banks.lays out* the company’s direction fo r the next year.Cash equivalents are short-term , tem porary investments th a tSI____________ Some consider th is an advertisem ent fo r thecan be quickly and easily converted to cash.company. However, it alm ost always reflects how a company• Statem ent of financial position*sees itself, or how it would like others to see it.
Here, theThe statem ent o f financial position reports a company’scompany can explain itse lf to the stockholders, usingfinancial status at a set date. The statem ent is like aphotographs, illu stra tion s, and text. It may cover thesnapshot* because it shows w hat the company is w o rth atcompany's lines of business, markets, mission*, managementth a t set date. The statem ent shows:philosophy, corporate culture, and strategic direction.• w hat the company owns (assets)1 0 ____________ Probably the most often-read section of any• w hat the company owes (liabilities)annual report, these give a quick sum m ary of a company’s• w hat belongs to the owners (stockholders’ equity)4 __________ This inform ation summarizes a company’sfinancial condition and perform ance over five years orValidity: correctness*statement of earnings (US): p ro fit and loss account (CB)*statement of cash flows (US): cash flo w statem ent (GB)*lifeblood: th e essential item*statement of financial position (US): balance sheet (GB)98longer, including gross p ro fit and net earnings (net income).5 ___________ This series of short, detailed reportsperformance.
The figures appear in a sh o rt table, usuallyaccompanied by supporting graphs.International Business MachinesGuide to Understanding Financials*o snapshot: inform ation th a t quickly shows asituation at a p o in t in tim e*adequacy: sufficiency, w h e th er there is enough*to lay out: to present*o mission: the aim o f an organisationCompany PerformanceRead the text again. Which section of a company's annual report would youread for information about these things?12345Vocabularyany difficulties the company has had to face during the last yearhow the company performed during previous yearsthe company's results for the yearwhether the report satisfies government requirementsthe company's plans for the next yearThe article includes words for different people who are either directly orindirectly involved with a listed company.
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