Lesson 2

Ex.2. Explain how a firm can define and calculate its costs.

Ex.3. Rewrite the passage in Direct Speech.

Joan worked in a shop selling gramophone records. One day a middle-aged woman came in, sat on a stool in front of the counter and smiled at Joan. Addressing Joan familiarly, she said she wanted a record-one she had heard on the radio that morning. Joan asked what the record was called. The woman shook her head, and said she didn’t remember, though she would know it if she heard it. She suggested that Joan should play her some. Joan pointed out that they had hundreds of records in stock, and that it would take a very long time to play her even a little of each. The woman looked very unhappy, but suddenly her face brightened. She had just remembered something, she said: the music she wanted came from a play in which there was a woman who spoke very badly, but who after a time learnt to talk beautifully. Joan asked if it could be from “My Fair Lady”. The woman cried out that that was it. She wished Joan had thought of it earlier instead of wasting time asking silly questions. She supposed Joan was new to the job.

(From B.D. Graver. Advanced English Practice,

Oxford University Press)

Speech and Discussion

Ex.1. Define the following terms:

s costs

s assets

s liabilities

Ex.3. Discuss with your groupmates which is more important for a business – its assets or liabilities. Why?

Ex.4. Familiarize yourself with the following idioms. Consult your dictionary and translate the sentences into Ukrainian. Think of situations where you could use them.

1. You’d better not rely on him. When it comes to business he’ll show the white feather.

2. We were surprised at Jack turning up in our office. We saw him here once in a blue moon.

3. Stop arguing. We’d better read the paper. Here it is put in black and white.

4. It’s time we shut up shop.

5. Reading between the lines of Miss Prout’s reference, I have the impression that her employer was not satisfied with her work, although he doesn’t actually say so.

Ex.5. Comment on the following:

“A small debt produces a debtor; a large one an enemy.” (Syrus)

Text: Raising Finance

Grammar: First Conditional

Terms to remember:

raise finance (v)	™	залучати фінанси
run costs (v)	™	керувати, управляти витратами
financial reserves	™	фінансові резерви
extra capital	™	додатковий капітал
premises	™	приміщення; будинок з прилеглими будівлями і ділянкою
working capital	™	оборотний капітал; оборотні фонди
preserve (v)	™	зберігати; підтримувати
cash flow	™	потік готівки
time-lag	™	відставання в часі; спізнення
retained profit	™	нерозподілений прибуток
borrowing	™	позика (коштів); кредит
grant	™	дотація; субсидія, грант; грошова допомога
loan	™	позика
tax	™	податок
distribute (v)	™	розподіляти; роздавати
lender	™	кредитор, позикодавець
leasing	™	лізинг, довгострокова оренда
hire purchase	™	купівля у розстрочку
debt factoring	™	борговий факторинг
share issue share flotation share offering	™	розміщення, випуск нових цінних паперів на вільний ринок

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