Английский язык для экономистов - Малюга Е.Н.
ISBN 5-469-00341-8
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¦ (preposition) + noun + past participle + main sentence: With state pension systems stretched by the ageing of Europe's population, investors are turning increasingly to mutual funds.
F.l. Identify all the past participle forms in the text "True and fair is not hard and fast" and put them into the appropriate columns.
Adjective Perfect Passive Infinitive
reported accounts has undermined were devised to be stated
F.2. Translate the following sentences into Russian paying attention to the participles.
1. These are the first sets of results produced by companies in America: they are unaudited and do not follow America's GAAP (Generally Accepted Accounting Principles).
2. Since the end of March this year, companies have been compelled to show how they reconcile their pro-forma figures with the numbers subsequently produced according to GAAP rules, of which there are hundreds.
3. These include the "special-purpose entities" made famous by Enron, which gave them the names of suitably fanciful characters in the Star Wars movies.
4. Most significant of all, perhaps, is the attempt to force companies to account for stock options granted to their employees. Unit 6. Accounting
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5. Yet another goal is to shift the world's body of accounting standards away from rules (the approach favoured in America) towards principles (more influential in Britain).
6. The hard rules embedded in America's GAAP have helped devious financiers to design structures that obey the letter of the law but ignore the spirit.
7. As share prices soared, people pointed to the growing gap between the book value of companies (what appeared in their accounts) and their market capitalization (valued on stock exchanges) as evidence of the irrelevance of accounts.
F.3. Choose a verb from the box to complete the spaces in the article.
called audited decided made increased
clung obliged given repeated presented
measured wild-eyed
Try Revolution, not Evolution
uThe Economist"
Closing up some obvious loopholes, bringing in more market valuation and taking away some jargon — these are all important changes. Together, though, they amount to patching up the existing system. It is not surprising that accountants have (1) ... to fix what is there already: they are on the whole a conservative bunch and not (2)... to experimentation. Some of them, however, would like to see a far more radical rethink of accounts.
Regulators also believe that companies should be (3)... to give out new sorts of information. There should be new sections in annual reports on companies' intangible assets and on "key performance indicators" -- such as employee turnover, customer acquisition cost or inventory turnover. The single most important thing that regulators could do to improve accounts, says Lynn Turner at Colorado State University and a former chief accountant at the SEC, would be to make companies report (4)... key performance indicators.
The company would then have to state in its annual report what percentage of its numbers derive from estimates and what portion are verifiable facts: analysts might choose to apply a discount, reflecting the (5) ... risk, to companies with a high level of estimates. In subsequent years, the company would be (6)... to go back and check how well its estimates had (7)... up to reality, much as governments go back and revise GDP estimates. Over the long run, says Mr. Turner, managers of companies would not be able to get away with (8)... big misses. 112
Английский ЯЗЫК ДЛЯ экономистов
Although companies and their auditors pretend that they can work out a single profit figure and a single net-assets number, the truth is that accountants do not know exactly how much money a company has (9)..., nor exactly how much it is worth at any one moment. Realistically, the best they can hope for is a range — uX corporation made somewhere between $ 600 m and $ 800 m" — depending on, for instance, what assumption is (10)... about the likelihood that its customers will pay all the money that they owe.
Throughout the history of accounting, some folk have (11) ... for accounts to be (12)... in the form of ranges. Mr Holgate, for instance, a partner of the world's largest accounting firm and by no means a (13) ... radical, believes that presenting profits in this way would be much more realistic. For understandable reasons, though, the world has (14)... to the illusion of certainty and exactness.
G* Speak up
Answer the following questions.
1. Why is the problem of the transfer of the Russian banking sector to international standards so vital?
2. Why has the problem of reporting in accordance with international standards appeared in Russia?
3. What is the difference between Russian national accounting standards and international?
K Reading the English newspaper
H.l. Read the article and do the exercises.
Spring Fever
iiTheEconomist"
A new device to embellish the books of Japanese companies.
