Tiếng anh quản trị kinh doanh part 23 potx

TEXT 9.2 CORPORATE FINANCE Bạn hãy đọc kỹ phần nội dung về tài chính doanh nghiệp dưới đây và làm các bài tập ở sau bài đọc.. Hãy làm các bài tập sau dựa vào nội dung bài khóa.. Exerci

Appropriateness

3 TEXT 9.2

CORPORATE FINANCE

Bạn hãy đọc kỹ phần nội dung về tài chính doanh nghiệp dưới đây và làm các bài tập ở sau bài đọc Bạn có thể tham khảo bảng từ vựng ở cuối bài để biết nghĩa của các từ mới

Corporations need financing for the purchase of assets and the payment of expenses The corporations can issue share in exchange for money and property (sometimes referred to as equity funding) The holders of the shares together form the ownership of the company Each share is presented by the stock certificate This is negotiable, which means that it can be bought and sold The value of the share is determined not only by the net assets divided by the total number of shares outstanding, but also by any particular rights it gives shareholders The greater the success

of the company, the more value the shares usually have

A corporation can also get capital funds by borrowing This is called debt funding When corporation borrows money, they give notes or bonds, which are also negotiable However, interest has to be paid out whether business is profitable or not

Management must consider both the outflow and inflow of capital funds in running the corporation The purchase of inventory and supplies, or payment of salaries, results in an outflow The sale of goods and services results in an inflow In the long run, the inflow is much greater than the outflow to result in a profit In addition, a company must deduct its costs, expenses and losses on bad debts, interest on borrowed capital and other items in order to determine whether its financial management has been profitable The amount of risk involved is an important factor in determining fund raising and whether a particular corporation is a good investment

Do the following exercises based on the text

Hãy làm các bài tập sau dựa vào nội dung bài khóa

Exercise 1:

Answer the following questions based on the text:

(Hãy trả lời các câu sau dựa vào bài khóa.)

1 Why do all corporate enterprises need financing?

………

2 What is meant by the term “equity funding”?

………

3 How is the value of a share or certificate usually determined?

………

4 What is debt funding?

………

5 What are some activities that produce an inflow of capital? An outflow of capital?

………

6 What happens in a business if the inflow of capital is not greater than the outflow?

………

Exercise 2:

From the list below, select a word to fit each blank space in the sentences Use each word only ONCE

(Hãy chọn một từ thích hợp để điền vào mỗi chỗ trống trong các câu sau Mỗi câu chỉ được chọn 1 lần.)

negotiable inventory

1 The current assets of a company usually include cash and

2 funding means financing by the owners of the company

3 They need _ in order to purchase supplies

4 Of course you can sell your shares of stock: they are _

5 They want to make a profit, so we must be careful about investing in a company that has much

6 Financing by borrowing funds is called debts

7 Where did they borrow the money and how much will they pay?

8 In the long run, the must be greater than the outflow to result in

a profit

4 LISTENING

COMPUTERISED ACCOUNTS

Sandra Parr is talking to Liz Shepherd about a letter that has just arrived

Exercise 1: Corrections (Sửa câu)

Listen to the disc and correct these statements, like this:

(Hãy nghe và sửa các câu theo cách sau.)

The letter was opened by ………… (name the correct person)

1 Someone at BOS opened the letter

………

2 David Thompson printed the statement

………

3 Liz Shepherd wrote the letter

………

4 Sandra Parr sent the statement

………

5 The computer wrote the letter of apology

………

Laboratory drill

P: Sandra opened the letter R: The letter was opened by Sandra

Exercise 2: Computers (Máy tính)

Many companies have now computerized their accounting procedures because computers can do the work more quickly and more accurately than people The work the computer does (storing information, finding the right information and doing calculations) is called data processing The part of the computer that processes the data (information) is called the CPU (central processing unit) This constrains only electronic components, called microchips

A computer can only do what it is instructed to do The instructions that are stored in a computer are called the computer program The people who write these instructions and put them

in the computer are called computer programmers You do not give to be a computer programmer

to use a computer

The parts of computer that most people use are called terminals The terminals are usually a keyboard, which looks like a typewriter, and a VDU (visual display unit), which looks like a television, or a printer Information put into the computer on the keyboards is called input When the computer shows the result of the data processing on the VDU or the printer, this is called output

When computers go wrong, it is usually because there is something wrong with the input In other words, it is a mistake made by a person, not by the computer This is sometimes called GIGO (Garbage In, Garbage Out*)

- Garbage is the American word for rubbish, something you throw away because it is not any good

Computers can only answer questions which require a positive or negative Yes or No answer Ask and answer this sort of question about the computer text, like this:

P: Does data mean information? R: Yes

P: Does a VDU look like a typewriter? R: No

P: Where are the microchips? R: Input error

Laboratory drill

P: Does data mean information? R: Yes

P: Where are the microchips? R: Input error

Exercise 3: A computer program (Một chương trình máy tính)

David Thompson does not yet understand the documents used in the accounts department This is the situation with six Tranworld customers and what David was planning to do about them:

(David Thompson chưa hiểu những tài liệu sử dụng ở phòng kế toán Đây là tình huống với

6 khách hàng của Transworld và những gì David dự định làm.)

1 We haven’t arranged transportation for BOS this month A Send a statement at the end of

the month

2 We arranged transportation for GLM and they have

paid the invoice, but we overcharged them

B Send a credit note

3 We arranged transportation for our regular customers,

JLN, but they haven’t paid us

C Send a debit note

4 HEQ have paid their invoice, but we undercharged

them

D Send a reminder

5 Arranged transportation for WRS this month, but we

haven’t done anything about it yet

E Not do anything

6 This is the first time we have arranged transportation

for ZYZ and they haven’t paid their invoice yet

F Send an invoice

7 BLT has paid their invoice The amount was correct G Send a receipt

Most of David’s answers are wrong, so Liz wrote a simple ‘computer program’ for him to follow Study the program below, then ask questions from the computer program and give a positive or negative answer from the problems above, like this:

P: The customer is BOS

R: Have we arranged transportation for BOS this month?

P: Negative

R: What are you going to do?

P: Well I was going to send a statement at the end of the month

R: The correct answer is E

P: In that case, I’m not going to do anything

Laboratory drill

P: What about BOS’s account? R: I was going to send a statement at the end

of the month

Exercise 4: The alphabet (Bảmg chữ cái)

This is a list of new customers at Transworld Put them in alphabetical order before they are put on the computer

(Đây là danh sách khách hàng mới của Transworld Hãy sắp xếp họ theo thứ tự trong bảng chữ cái rồi đưa vào máy tính.)

Check which country you think each company is in, like this:

(Hãy kiểm tra xem những công ty này từ nước nào tới.)

P: JBX is Singaporean, isn’t it? R: Yes It’s in Singapore

Or No It’s in ………

Laboratory drill A

Laboratory drill B

P: JBX is Singaporean R: JBX is in Singapore, is it?

SUMMARY

Bài này đã cung cấp cho bạn kiến thức về:

- Từ vựng và cấu trúc ngữ pháp để hiểu được nội dung bài đọc bằng tiếng Anh về các phương thức phân tích tài chính và tài chính doanh nghiệp

- Thực hành kỹ năng đọc hiểu về các chủ đề trên

- Trả lời được các dạng câu hỏi khác nhau trong phần đọc hiểu, điền từ vào chỗ trống

- Sử dụng được tính từ và trạng từ

- Thực hành nghe với chủ đề “computerize accounts”, và làm bài tập nghe hiểu

VOCABULARY

accounting procedure n thủ tục kế toán

balance of payments n bản thanh toán

central processing unit n bộ xử lý trung tâm

current ratio n tỉ suất hiện thời (khả năng trả nợ ngắn hạn)

data processing n sự xử lý dữ liệu, xử lý thông tin

debt funding n huy động vốn

garbage in, garbage out idm dữ liệu nhập sai, kết quả sai

programmer n người lập trình, lập trình viên

property n tài sản tư bản (máy móc, nhà xưởng)

public adj or n chính phủ, công chúng, nhân dân

terminal n bộ phận máy vi tính, thiết bị đầu cuối

visual display unit n màn hình hiển thị

CONSOLIDATION EXERCISES

Exercise 1 Read the passage and answer the questions

FISCAL AND MONETARY POLICY

The two main types of macroeconomic policies are fiscal and monetary policies The two policies are interrelated

Fiscal policy is carried out by the Ministry of Finance and can be divided into two parts, government expenditures and taxation These two parts determine whether the government has a deficit or surplus in its budget A careful fiscal policy is the basic of a stable macro economy Taxes and public (public = government) spending can affect resource allocation Fiscal deficits affect both the balance of payments and the rate of inflation

Monetary policy in developing countries follows fiscal policy Printing of money is often the source of financing for government spending If the central bank has to finance a big deficit, it may be unable to implement a restrictive monetary policy to control inflation

If a deficit is financed by printing more money than the public wants to have, prices will rise Inflation causes the real value of personal financial assets to fall But it also induces people to buy assets such as gold, dollars or real – estate which will not lose value with inflation

When a budget deficit is financed by excessive domestic borrowing, it can lead to higher interest rates because of the high demand for money These high rates can make it too expensive for the private sector to borrow money

Government deficits must be brought down with cuts in spending, or through higher taxes

If spending cuts are not made, government eventually have to print money to finance their deficit, making inflation unavoidable

Comprehension questions

1 What are the 2 main types of macroeconomic policies?

………

2 What are the 2 parts of fiscal policy?

………

3 What do these 2 parts determine?

………

4 What do fiscal deficits affect?

………

5 In developing countries what does monetary policy follow?

………

6 How do some governments finance government spending?

………

7 What is needed to control inflation?

………

8 What happens if the government prints more money than people want to have?

………

9 What does inflation induce people to do?

………

10 How can domestic borrowing lead to high interest rates?

………

Exercise 2 Read the passage and answer the questions

Debt financing is classified as short term or long term Short term debt issues must be repaid within three to five years Loans obtained from commercial banks are a common form of short - term debt Bank lines of credit allow a firm to borrow up to a specified maximum but require that the loan balance be zero for one or more months during a year Banks will also provide 2 – to – 3 year loans, but these are often secured by a claim to inventories or account receivable if they are not paid on time

Factoring and pledging are used by smaller, less stable companies Factoring is the physical sale of the firm’s receivable due from customers Pledging is a loan secured by the firm’s receivable due from customers Because of their increased risk, pledging and factoring bear a larger interest cost to the firm than commercial paper

Comprehension question

1 How is debt financing classified?

………

2 What is a common form of short - term debt?

………

3 What are often secured by a claim to inventories or account receivable if they are not paid on time?

………

4 What is factoring?

………

5 Why do pledging and factoring bear a larger interest cost to the firm than commercial paper?

………

Exercise 3 Change these sentences into the future with will

Example: I can play tennis (tomorrow)

I’ll be able to play tennis tomorrow

1 I have to wear a uniform (at the weekend)

………

2 I can’t tell you (tomorrow)

………