Lesson 2. What three basic things do companies do when they lack money to cover operating costs?

What three basic things do companies do when they lack money to cover operating costs?

Task 23. Say what you know about …

7. Finance as money and the process of managing it.

8. Different areas of finance.

9. The importance of finance for oersonal, corporate and public use.

10. Some primary considerations when going into business.

11. Internal and external sources of funds.

12. The importance of taking stock of family finances.

13. Some possible ways of avoiding even temporary insolvency both for businesses and families.

Task 24. Comment on the following sayings.

1. “What is high finance? It’s knowing the difference between one and ten, multiplying, subtracting and adding. You just add noughts. It’s no more than that.” (John Bentley)

2. “Finance is the art of passing currency from hand to hand until it finally disappears.” (Robert W. Sarnoff)

3. “Every morning I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work.” (Robert Orben)

4. “Finance is the art or science of managing revenues and resources for the best advantage of the manager. The pronunciation of this word with the “i” long and the accent on the first syllable is one of America’s most precious discoveries and possessions.” (Ambrose Bierce)

5. “Financial education needs to become a part of our national curriculum and scoring systems so that it’s not just the rich kids that learn about money … it’s all of us.” (David Bach)

6. “Before you can really start setting financial goals, you need to determine where you stand financially.” (David Bach)

7. “Finance, like time, devours its own children.” (Honore de Balzac)

8. “Finance is a gun. Politics is knowing when to pull the trigger.” (Mario Puzo)

9. “What we now call “finance” is, I hold, an intellectual perversion of what began as warm human love.” (Robert Graves)

Task 1. a) Study the following paronymous words.

VERB	NOUN	PERSON
to finance	financing	financier
to invest	investment	investor
to fund	funding	funder
to sponsor	sponsorship	sponsor
to back	backing	backer

b) Translate into Ukrainian paying special attention to the words in italics.

1. The organization is financed by the government.

2. They invested $50 000 in the trust.

3. Extra funding will be needed to pay for the project.

4. The company has agreed to sponsor a TV show.

5. They are struggling to win financial backing for their plans.

Task 2. Study the following words.

· These two words are very similar, but fund is used more than finance for programmes or projects that continue or are repeated year after year.

Task 3. Practice reading the following words.

1. arrangement [ə`reın d ჳmənt] 2. asset [`æset] 3. centralized [`sentrəlaızd] 4. to consolidatе[kən`sOlıdeıt]/[kən`sα:lıdeıt] 5. converging[kən`və:Gıŋ] 6. duplicate [`dju:plıkeıt] 7. to ensure [ın`∫O:] / [ın`∫u^ər] 8. equity[`ekwəti] 9. expenses [ık`spen^tsız] 10. financial[faı`næn^t∫^əl] 79% / [fı`næn^t∫^əl] 17% / [fə`næn^t∫^əl] 4% 11. future [`fju:t∫ə] / [`fju:t∫^ər] 12. department [dı`pα:tmənt]

13. item[`aıtəm] 14. liquid[`lıkıwd] 15. ownership[`əunə∫ıp] / [`oun^ər∫ıp] 16. provision[prə`vıჳ^ən] 17. relatively[`relətıvli] 18. shared[`∫eəd] 19. to secure [sı`kjuə] / [sı`kju^ər] 20. seek [si:k] 21. separate[`sep^ərət] 22. structure[`strAkt∫ə] / [`strAkt∫^ər] 23. success[sək`ses] 24. towards[tə`wO:dz] / [tO:rdz] 25. to utilize [`ju:tılaız] / [`ju:t^əlaız] 26. version [`və:∫^ən] / [`və:ჳ^ən]

Task 4. Read the text.

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