Income statement, profit and loss statement
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 The income statement, or profit and loss statement measures performance of an enterprise. The bottom line of this statement is the net result of the operations of the enterprise in the reporting period. It reveals the change during the period in the equity of the enterprise resulting from its operations.

 Revenues

 Revenues are inflows or enhancements of assets (or reductions of liabilities) that arise in the course of the normal activities of the enterprise.

 The events that result in revenues and revenues themselves are referred to by a variety of names: including sales, fees, interest, dividends, royalties and rent.

 

 Expenses

 Expenses are outflows or depletions of assets (or additions to liabilities) that arise in the course of the enterprise's normal activities.

 The events from which expenses arise themselves are referred to by a variety of names, including cost of sales, wages and depreciation.

 An expense is recognized when it is realized that an expenditure does not produce future economic benefits. It is also recognized when a liability is incurred without the recognition of an asset. When it is possible to do so, expenses are recognized in the income statement on the basis of direct association between expenses incurred and the earning of specific items of income. The process is commonly referred to as matching of expenses with revenues.

 



Gains and losses

 Gains are increases in equity that result from transactions that are incidental to the enterprise's activities and from other transactions, events or circumstances affecting the enterprise during a period, except those that result in revenues or equity contributions.

 Losses are decreases in equity that result from transactions that are incidental to the enterprise's activities and from other transactions, events or circumstances affecting the enterprise during a period, except those that result in expenses or distributions of equity.

 Gains are normally recognized when realized. Losses are normally recognized when realized or when it becomes evident that there is an impairment in the value of the assets, or an increase in the liabilities, to which the losses relate.

 

Personal customers

Various services are offered to personal customers by banks who earn the most part of their income as banks often claim. Banks take great care of their personal customers taking into account their age, wishes and personal requirements.

If personal customers are grouped by age these are the products banks may offer:

· ATM cards are available at 13 if the children have some savings with the bank.

· Cheque books are offered at 16,

· They can start borrowing money from banks at 18 if they have sufficient income or capital.

· From 18 to 25 people require a mixture of savings and lending products, e.g., investment accounts, credit cards, debit cards, personal loans.

· From 25 to 50 life assurance, a mortgage and a budget account may be priorities for a customer.

· Between 50 and 65 life assurance becomes expensive, except as a way of financing inheritance tax. Asset management could be sold to the customers, before incomes are reduced after retirement. Their grandchildren may need financial provision.

· After 65, long-term lending is rare, but long-term high- interest savings accounts become more attractive.

· After 70, annuities are possible.

· Wills should reviewed regularly, at any age.

Thus, savings are popular with young and old, lendings and savings with those between the ages of 20 and 70.

Discounts, terms of payment

C: Taking into consideration all your objections we've decided to reduce our increase in prices from 10 percent as I told you recently to 5 percent now.

R: Thank you. We have a few problem to discuss, haven't we?

 C: Yes, we have.

 R: And first comes the problem of payment, isn't?

 C: Yes, it is.

 R: What are your usual terms of payment?

C: Our terms of payment are in US Dollars against shipping documents by a letter of credit with your bank for the full value of each lot shipped under the Contract. Each of credit is to be valid for 30 days.

 R: When is our company to establish the letter of credit?

 С: We prefer you to establish the letter of credit within ' 15 days on receipt of the notification of the readiness of the goods for shipment.

 R: Good. These terms suit us.

 

В).

 1. Он уже написал письмо, когда я пришел.

2. Его никогда нет дома, когда я звоню.

3. Я приду вовремя.

 

4. Почему эти правила всегда забывают?

5. Студенты покинули комнату.

6. К двум часам мы не закончим работу.

7. Он делал запись в своем дневнике каждый вечер.

8. Утро было прекрасно, солнце светило, птицы пели и все на улице улыбались и говорили "привет" друг другу.

9. Он всегда прерывает меня.

10. Я пойду в банк завтра.

ВАРИАНТ 10

A)  .

Climate in the USA

 The USA is the fourth largest country in the world, after Russia, Canada and China. Including the states of Alaska and Hawaii, the US covers an area of 9 millions square km.

I am going to tell you about the climate in the USA. The United States has many kinds of climate. The weather ranges from the warm, wet conditions of the Appalachians to the semi-desert or desert conditions in some of the western states.

It varies from southern Arizona and southern Florida, where almost there is no winter at all, to the territory of Montana, North Dakota and South Dakota, where there are long, very cold and severe winters. In other words, the US has practically all the climatic zones.

The main land mass of the US is in the temperate zone. The climatic conditions of the country are determined by the great mountains and the wind.

West of the Rocky Mountains, running all the way from the Canadian border to Mexico, there are vast areas where almost no trees grow. In this section of the country there are deserts, which receive as little as 12-13 centimetres of rainfall a year. Yet, west of the Sierra Nevada Mountains, there are places in which 250 centimetres of rain fall annually. It is one of the wettest places in the USA.

There are all kinds of differences in the climate of the US. For instance, all along the western coast, the temperature changes little between winter and summer. In some places, the average difference between July and January is as little as 10 degrees Centigrade. The climate along the northern part of this coast is similar to that of England.

But in the north central part of the country the temperature difference between winter and summer is very great - 36 degrees Centigrade and even more. The coldest days of January may be - 40 degrees Centigrade, and the hottest July days may be 45 degrees. In the eastern part of the US, the difference between summer and winter is also very distinct, but not so extreme.

In the south-eastern corner of the country the climate is mild and spring is like winter, but in summer the temperature may be very high.

Hawaii, the 50th state, is a chain of over 100 islands, lying in the Pacific and stretching from southeast to northwest for 2,575 kilometres. Although this state is located in tropical zone, its climate is favourable, because of the ocean currents that pass its shores and the winds that blow across the land from the northeast. The temperature usually remains close to the annual average of 24 degrees Centigrade.

The situation in Alaska is different. In those parts of the state which lie above the Arctic Circle, Alaska still is a land of icebergs and polar bears. Ice masses lie buried in the earth, which is permanently frozen land to a depth of 90 or more meters.

From early May until early August, the midnight sun never sets on this flat, treeless region, but the sun cannot melt the icy soil more than two thirds of a meter down. The Japan Current of the Pacific warms Alaska, and the Arctic cools it. The temperature may drop as low as - 43 degrees Centigrade in some places, and may drop to 30 degrees in others. In the north, in any given year, more than 11 meters of snow may fall.

A deal

Foreign exchange dealing transactions are really buying and selling bank deposits expressed in foreign currencies. Besides this market includes all the small cheques, bills and drafts involved in international trade.

Although the deposits in home and foreign currencies appear in the balance sheet of the bank, the actual transactions do not

In London such transactions can amount to many millions of pounds a day for a bank, when the sterling equivalents are calculated and, for London as a whole, the total can be as high as 90 bn pounds sterling a day!

 

In London banks deal with each other using a broker who charges a small fee for putting buyer and seller in touch. Brokers also participate in rate finding process. All this serves to explore the intentions of major market participants.

International deals are usually done between banks directly by telephone or telex.

Here is a short telephone talk .specimen between two bank dealers:

A. - Good morning. Vneshbank on the market.

B. - Good morning. BankAmerica is ready on the market.

A. - How are things with you?

B. - Everything is O.K. And how are you doing?

A. - Fine. Thank you. I hope we shall do good business today.

B. - Likewise. And what's you offer?

A. - We would like to place a deposit with your bank. Is it possible to do?

B. - Why, certainly. For what term, in what currency and of what amount is it?

A. - 100, 000, 000 American dollars for a month.

B. -1 can offer you 325 per cent then. Do you accept it?

A. - Yes, it suits me all right.

B. - Thus we agree to open the deposit on 1 February and close it on 1 March at the rate of 325 per cent.

A. - Please credit the deposit interest to our account with Credit Lionnais, New York. We would like to have the deposit automatically renewed with capitalization. This is our requirement.

B. - Agreed. Business's done. Thank you. Good-bye.

A. - Thank you. Bye-bye.

Then the dealer usually fills out the purchase voucher which will contain the following information

sold to: Bank America

amount: 100,000,000.00

at rate: 325 per cent

value: 1.3.95.

to be paid to: their account with us

proceeds: 325,000,000.00

to be paid to: our account with Credit Lionnais, New York

The purchase vouchers are then transferred by a SWIFT message to the other bank involved in the business.

English pounds sterling

The English Pound Sterling is the standard unit of the currency of Great Britain.

Pounds sterling are issued by the Bank of England, which is the central bank of the United Kingdom founded in 1694. The Bank of England started to issue English banknotes in 1921 after it took over the issue of notes from the Treasury. The Bank of England is a bank of issue and it is the only bank in the United Kingdom with the right to issue notes.

Though some Scottish banks and some banks in Northern Ireland also have the privilege of issuing banknotes. But the extent of these issues is strictly limited.

The Bank of England consists of two separate departments: the Issue Department and the Banking Department. The Issue Department concerns itself solely with the note issue.

In the past the Bank of England could issue notes without restriction provided they were backed by gold or silver. They bore the inscription "I promise to pay the bearer on demand the sum of..." which meant the banknotes were convertible into gold. But in 1931 En glish banknotes became inconvertible though they still bear the same inscription.

 Now all the note issue is fiduciary, they are not backed by gold or silver, they are based on faith. "Fides" is the Latin word for "faith". The issue of banknotes is backed only by Government securities. Thus they are fiduciary issues. In other words English banknotes are token money.

The fiduciary issue is limited and any changes in its volume require the assent of Parliament. Temporary increases take place in the fiduciary issue every Christ mas and again in the summer when there is an increased demand for cash.

At the present time the Bank of England issues banknotes of four denominations: 5, 10, 20 and 50 Pounds. In fact they are promissory notes of the Government. They are all legal tender which means that they must be accepted if they are tendered, or offered, in payment for something.

 

B) 1. Мы не жили в Киеве до переезда в Москву.

  2. Она всегда опаздываю на работу.

  3. Я слишком устала, я поймаю такси.

  4. Она навела порядок в своей комнате.

  5. Его спросят завтра.

  6. Он победит в трех играх к концу месяца.

  7. Он закрыл окно, выключил свет и вышел.

  8. В 6 вчера я обедал.

  9. Его английский улучшается.

10. Ты скоро закончишь доклад?

Дата: 2019-02-25, просмотров: 161.