Balance sheet

The position of the enterprise is presented in the balance sheet. That statement shows resources and the claims to or interests in them and provides an indication of the financial strength of the enterprise.

 The balance sheet includes the following elements:


 Assets include property, plant and equipment, financial leases, investments in subsidiaries and other enterprises; long-term receivables; purchased goodwill, patents, trademarks and similar intangibles; marketable securities; current receivables (or trade debts); inventories; cash and bank balances; and prepaid expenses.

 Assets arise from past events, which may be cash or non-cash transactions. Assets may be purchased, exchanged for other assets, self-generated or received as grants or donations.

 An asset is recognized when it is reasonably certain that the future economic benefit embodied in it will flow to the enterprise.

 In a number of countries, intangible assets such concessions, patents, licenses, trademarks and similar rights and assets may be recognized in the balance sheet only if they were acquired for a valuable consideration. A number of countries allow assets to be carried on the balance sheet only if the reporting enterprise is the legal owner.



 Liabilities include long-term loans and debentures, short-term loans, and bank overdrafts, payables, pension plans and similar financial obligations. The scope of definition of liabilities covers obligations whose financial amounts can or cannot be established precisely. It therefore covers what is usually described as provisions in some countries. Provisions are liabilities, the amount of which cannot be established precisely, or the occurrence of which is uncertain. In some countries, provisions may not be used to adjust the value of assets. In those countries, value adjustments on debtors are referred to as write-downs. In other countries, write-downs on debtors are commonly referred to as provisions. Provisions should be distinguished from reserves, which are amounts set aside under equity for future use with respect to obligations which may arise from probable or possible events.

 A liability is recognized when it is reasonably certain that a future reduction in economic benefit will result from the settlement of the obligation.



 Paid-in capital is treated differently in many countries, in some of which all amounts paid in by equity shareholders are classified as paid-in and are not further categorized. In other countries, paid-in capital is divisible into two types: that relating to the par value of the shares offered for sale and that relating to share premium or additional capital. In consolidated balance sheets, the amount of equity should be given separately for the shareholders of the parent enterprise and for other shareholders.

 Equity is a residual arising from the deduction of liabilities from the assets of the reporting enterprise. Equity arises from two sources: that provided by shareholders (for example, paid-in capital) and that generated by the activities of the enterprise (for example, earnings less distributions to shareholders, unrealized surpluses).

Loan Agreement

Mr. Zuev (Z) meets at the bank with Mr. Vickers (V), acting Director and other representatives of joint venture company Valeria.

 Z: Good afternoon, gentlemen.

V: Good afternoon. I'm glad to meet you again. We are obliged for your letter informing us about the decision of the Credit Committee of the bank.

 Z: Yes, indeed. The Committee's decided to grant the credit to Valeria Co. to the amount of 1.85 million US dollars for the purchase of equipment.

 V: Thank you very much. Could you tell us about repayment period?

 Z: We've adopted the refund period of 5 years. In this case the currency balance remains reliable.

V: We'd like to start discussion of the terms of a loan agreement as soon as possible.

Z: Yes. We've already passed on the draft loan agreement for your perusal.

V: Thank you. And what is the margin rate?

Z: The margin for your credit has been fixed at the rate of 1% per annum.

V: And the principal debt will be repayable yearly, won't it?

Z: Oh, no. The principal debt must be repaid half-yearly.

V: We'd like to provide for repayment in various hard currencies, not only in dollars.

 Z: Yes, we'll provide for such possibility in the loan agreement .

V: O.K., agreed. Thank you. Z: Thank you. Good-bye.

B.1. Карен не хотела идти в кино с нами, потому что она уже видела этот фильм.

2. Где он обычно назначает встречу?

3. Я не забуду тебя.

4. Джон продал свою машину.

5. Как скоро проблема будет решена?

6. Я позвоню тебе, когда я сделаю свои уроки.

7. Я женился на тебе, потому что мне была нужна жена, которая умеет готовить.

8. Я плавал, когда начался дождь.

9. Они проживают в отеле в настоящее время.

10. Я буду кататься на лыжах в Альпах.



A) .


Front desk clerk:    Good afternoon. Can I help you?

Mrs. Stein:  Yes. Do you have any vacancies starting tonight?

Front desk clerk:    Yes, ma'am, we do. How long would you like to stay?

Mrs. Stein:  For four nights.

Front desk clerk:    What kind of room would you like?

Mrs. Stein:  A single, if possible.

Front desk clerk:    Let me see ... Will you be paying by credit card?

Mrs. Stein:  Yes, MasterСard. Here you are.

Front desk clerk:    That's Mrs. Stein? I'll just take an impression of* your card. Would you please complete the guest registra tion card?

Mrs. Stein:  Certainly.

Front desk clerk:    Here's your credit card, ma'am, and your room key.

Mrs. Stein:  Thank you.

Front desk clerk:    This is your room charge card. You'll need this if you charge anything in the restaurant or lobby shops. Could you sign it here?

Mrs. Stein:  OK.

Front desk clerk:    Right. Your room is oh the seventh floor. The bell captain**

 will take your bags up to your room.

Mrs. Stein:  Thank you. Oh,. is the restaurant still serving lunch?

Front desk clerk:    Our main restaurant closes at two-thirty, but you get something to eat in the all-day coffee shop. It's located across the lobby.

Mrs. Stein:  Thank you very much.

Front desk clerk:    You're very welcome. Enjoy your stay with us.


* Take an impression of— переснять, скопировать, сделать оттиск

** Bell captain - портье, старший коридорный



 A Contract is a business agreement on work to be done, rates to be paid, goods to be sold or bought. It is also a document embodying such an agreement.

 Contracts are concluded either between companies in one and the same country, or internationally, i.e. between organizations of different countries. Every international contract has several standard parts which are obligatory. Most frequently these necessary parts of the contract include the following:

legal addresses of the contracting parties,

the subject matter of the contract, i.e., what this business agreement is about; usually this also includes the total amount of money involved and the denomination of goods bought or sold under the provision of this contract (or the type of service agreed upon),

— a more detailed description of goods: their price, quality and quantity, packing and marking, etc.,

— the terms of delivery (the most usual ones being F.O.B., F.O.R., C.I.F., С & F., F.I.O.S., F.I.O., and others)

the length of duration of the contract, i.e. over what span of time the obligations arising out of it are valid,

the terms and procedure of payment, banking details,



claims and their settlement,

guarantee period (if any),

— other conditions.

All contracts consist of clauses, which are numbered, and sometimes of sub-clauses, and even of sub-clauses as well. In the negotiations or correspondence one can refer to the specific clause and sub-clause, e.g. "according to the clause 7.5. of the contract number ... ", or "as specified by clause 5.4.3. of the present contract ... ".


Дата: 2019-02-25, просмотров: 141.