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Ex 4. Give definitions to the following terms:
1) Assets are...
2) Liabilities are...
3) Owner's equity is ...
4) A balance sheet is ...
5) An accounting equation is …
Ex 5. Look through the Statement of Financial position of “General Electric” and evaluate it. Make up a list of clue words to it.
Statement of Financial position Баланс
At December 31 (in millions)
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1985
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1984
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По состоянию на 31 декабря (в млн.долл)
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Assets
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1606
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1859
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Активы
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Cash
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951
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514
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Наличность
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Marketable securities
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6040
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5509
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Быстрореализуемые ц/б
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Current receivables
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3949
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3670
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Краткосрочная деби-торская задолженность
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Inventories
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12546
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11552
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Материально–производ- ственные запасы
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Current assets.
Property, plant and equipment
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8328
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7690
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Оборотные активы. Реальный капитал. Амортизация
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Funds held for business development
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726
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814
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Фонд развития
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Other investments
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3150
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2903
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Долгосборные вложения в ценные бумаги
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Other assets
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1632
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1771
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Прочие необоротные активы
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Total assets
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26432
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24730
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Итог актива
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Liabilities and equity.
Short–term borrowings
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1297
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1047
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Пассив. Краткосрочные займы и кредиты
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Accounts payable
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2204
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1931
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Счета к платежу
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Progress collections and price adjustments accrued
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2257
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2403
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Постепенные денежные сборы и перерасчеты цен
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Dividends payable
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264
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673
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Задолженность по дивидендам
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Taxes accrued
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751
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2303
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Задолженность по налогам
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Other costs and expenses accrued
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2146
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8607
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Другие виды кратко-срочной задолженности
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Current liabilities
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8919
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3421
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Краткосрочные задол-женность
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Long–term borrowings
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3481
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1202
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Долгосрочные займы, кредиты
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Total liabilities
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21319
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21587
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Итого: краткосрочная, долгосрочная задолжен-ность
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Minority interest in equity of consolidated affiliaties
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128
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129
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Доля сторонних акцион-еров в консолидирован- ых дочерних компанииях
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Common stock
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579
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579
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Акционерный капитал
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Other capital
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641
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642
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Дополнительный капитал
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Less common stock held in treasury
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-310
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-313
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Минус собственные акции в портфеле
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Total share owner’s equity
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3455
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1480
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Собственный капитал
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Total liabilities and share owner’s equity
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26432
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24730
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Итог пассива
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Ex 6. Complete the following table by entering either the word debit or credit in each Column.
a)
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Item
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Increase
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Decrease
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1.
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Assets
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|
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2.
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Liabilities
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|
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3.
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Stock holder’s Equity
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|
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Complete the following table by entering either the word increase or decrease in each Column.
b)
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Item
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Debit
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Credit
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1.
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Assets
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|
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2.
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Liabilities
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|
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3.
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Stock holder’s Equity
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|
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Ex 7. Give extensive answers to these discussion questions:
1. What accounting is and what role it plays in a free market economy?
2. What sort of statement the balance sheet is?
3. What sort of statement the income statement is?
4. Who needs the information provided in financial statements?
5. Why do all firms need both fixed and working capital
6. What are your own sources of funds? Earnings from employment? Contribution from parents or others?
Ex 8. Prepare short talk on the following:
1. The work of public accountants, private accountants, and accountants who work for units of the government and non-for-profit firms.
2. Accounting principles
3. How is Uzbek accounting developing?
Text 3.
NEWSPAPER ARTICLES
Ex 1. As you read the following newspaper article point out the main idea. Make up questions to the text.
SAUDI ARABIA: INVESTMENT INCENTIVES
The Saudi Arabian General Investment Authority and the Supreme Economic Council agreed on July 2 to introduce new measures to attract foreign direct investment. The changes aim to speed up the process of gaining investment permission and trade registration, and cut the kingdom's dependence on expatriate labour. They include: exemptions on customs tariffs; more efficient judicial procedures for the resolution of trade disputes; stronger guarantees for investors; and special incentives for locals and foreigners to invest in less-developed regions. Foreign investors will now also be able to gain entry visas through Saudi embassies without having a letter of invitation.
Euromoney. 2005
IMF/World Bank Edition.
Ex 2. Comment on the meaning of the following words and expressions and make up your own sentences.
investment incentives
new measures
investment permission
trade registration
expatriate
trade disputes
less developed region
entry visas
Ex 3. Read the newspaper article and comment on the presented events by using key words from it.
UNDER PRESSUR
The allure of providing prime brokerage services to hedge funds is putting pressure on the three dominant brokers in the industry, says Standard & Poor's.
The ratings agency predicts two trends that could erode the profits from prime brokerage at the three largest US prime brokers, Morgan Stanley, Goldman Sachs and Bear Stearns.
The first is competition from investment and commercial banking groups attracted to prime brokerage for hedge funds because of the earnings potential. "Wide margins and growth in volumes in prime brokerage have attracted new entrants who compete on price and in the conditions of services, including collateral requirements," says Standard & Poor's report, Hedge funds and their counterparties - catching the big one, UBS and Citigroup, for example, are reported to have been pouring money into prime brokerage services such as securities lending and trade execution.
A second trend that might erode the profits to which the large three prime brokers have become accustomed is the internalization of services by some of the largest hedge funds, says the report. A few large hedge funds are bypassing brokers and trading directly with other investors, while others have International Swaps and Derivatives Association agreements with dozens of counterparties. Hedge funds are also increasingly running their own repo desks and securities-lending operations, conducting their own research, and relying less on sell-side analysts. The report says: “In some ways, large hedge funds are competing with the brokerage industry”.
Ex 4. Find in the text English equivalents to the following
Do'stlaringiz bilan baham: | 
