Giáo trình môn học Anh văn chuyên ngành Kế toán (Nghề: Kế toán doanh nghiệp)

Giáo trình “English for accounting” gồm 18 bài với thời lượng 60 tiết được sử dụng làm phương tiện giảng dạy cho giáo viên và học tập cho sinh viên. Giáo trình được sắp xếp theo các chủ đề như: kinh tế, tiền tệ, tài chính - ngân hàng, kiểm toán, marketing và kinh doanh quốc tế. Mời các bạn cùng tham khảo để biết thêm các nội dung chi tiết.

BỘ GIAO THÔNG VẬN TẢI TRƯỜNG CAO ĐẲNG GIAO THÔNG VẬN TẢI TRUNG ƯƠNG I

Ban hành theo Quyết định số 1661/QĐ-CĐGTVTTWI ngày 31/10/2017 của

Hiệu trưởng Trường Cao đẳng GTVT Trung ương I

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BỘ GIAO THÔNG VẬN TẢI

TRƯỜNG CAO ĐẲNG GIAO THÔNG VẬN TẢI TRUNG ƯƠNG I

GIÁO TRÌNH Môn học: Anh văn chuyên nghành

NGHỀ: KẾ TOÁN DOANH NGHIỆP

TRÌNH ĐỘ: CAO ĐẲNG

Hà nội, 2017

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TABLE OF CONTENTS

Unit 1 Marketing economy 2 Unit 2 Microeconomics and macroeconomics 7 Unit 3 Supply and demand 10 Unit 4 Money and its functions 13 Unit 5 Banks and business 17 Unit 6 Marketing, analysis of marketing opportunities 21

Unit 15 Accounting, the balance sheet 55 Unit 16 The role of auditors 60

Unit 18 International business

Tài liệu tham khảo

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74

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LỜI NÓI ĐẦU

Giáo trình “English for accounting” được tổ chức biên soạn để giảng dạy cho sinh

viên trình độ Cao đẳng nghề tại Trường Cao đẳng nghề Giao thông vận tải Trung ương I Giáo trình đã tập hợp được nhiều kiến thức từ nhiều tài liệu và giáo trình gốc của các tác giả

ở các nước Anh, Pháp, Mỹ,… Việc hoàn thành giáo trình này sẽ đáp ứng được nhu cầu về tài liệu học tập của sinh viên, giúp sinh viên đọc hiểu, dịch thuật và rèn luyện được các kỹ năng ngôn ngữ về các lĩnh vực kế toán, tài chính, ngân hàng

Giáo trình “English for accounting” gồm 18 bài với thời lượng 60 tiết được sử dụng

làm phương tiện giảng dạy cho giáo viên và học tập cho sinh viên Giáo trình được sắp xếp theo các chủ đề như: kinh tế, tiền tệ, tài chính - ngân hàng, kiểm toán, marketing và kinh doanh quốc tế

Giáo trình được hoàn thành là kết quả của quá trình lao động nghiêm túc, tập thể tác giả đã cố gắng xây dựng cuốn giáo trình có nội dung thiết thực, gần gũi với nội dung kiến thức đơn giản nhưng cập nhật phù hợp với qui trình đào tạo chuyên ngành kế toán tại Trường Tuy nhiên do thời gian biên soạn còn hạn chế, nguồn tài liệu chưa thật dồi dào và là lần biên soạn đầu tiên nên giáo trình không tránh khỏi còn nhiều thiếu sót Vì vậy, tập thể tác giả mong nhận được nhiều ý kiến đóng góp chân thành của các Thầy, Cô giáo cùng bạn đọc trong và ngoài Trường để giáo trình được hoàn thiện hơn

Xin chân thành cảm ơn!

: sự sản xuất : người sản xuất : người tiêu dùng : sự phân phối : hàng hóa : dịch vụ : xác định : cung : cầu : đàm phán : phương tiện : tư nhân : sở hữu : hợp tác xã : tổ chức : nhà nước : chủ nghĩa xã hội : doanh nghiệp : tự quản lý : thu nhập : tổng, toàn bộ : nội địa : cộng : quốc gia

2 Reading

2.1 Marketing economy

A market economy is an economy in which decisions regarding investment, production,

and distribution are based on supply and demand, and prices of goods and services are determined in a free price system The major defining characteristic of a market economy is

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that investment decisions and the allocation of producer goods are mainly made by negotiation through markets.[3] This is contrasted with a planned economy, where investment and production decisions are embodied in a plan of production

Market economies do not logically presuppose the existence of private property in the means of production A market economy can consist of various types of cooperatives, collectives or autonomous state agencies that acquire and exchange capital goods in capital markets, utilizing a free price system to allocate capital goods and labor There are many variations of market socialism, some of which involve employee-owned enterprises based

on self-management; as well as models that involve public ownership of the means of production where capital goods are allocated through markets

2.2 The gross national income

The gross national income (GNI) is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP) plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents Comparing the GNI and GDP shows us whether the nation resources are put

to capital creation or declining toward abroad

3 Comprehension

1 What is a market economy?

4 What is the major defining characteristic of a market economy?

2 What are differences between a market economy and a planned economy?

4 What does a market economy consist of?

5 What is GNI? What is GDP

4 Grammatical point

Relative clauses: Defining relative clauses and non-defining relative clauses

4.1 Relative clauses

Clauses beginning with questions words (e.g who, which, where) are often used:

- To modify nouns and some pronouns

- To identify people and things or give more information about them

Clauses used like this are called “Relative clauses”

There are 2 types of relative clauses: Defining relative clauses and non-defining relative clauses

Positions:

- Follow by a verb (subject relative clause) We must keep relative pronouns

The man who robbed you has been arrested

The car which/that caused last night is being in the police station Follow by a noun

or pronoun + V (object relative clause) We can leave out relative pronouns

The man who I love got married (The man I love got married.)

This is the best school that I know (This is the best school I know.)

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4.2 Defining relative clauses

Defining relative clauses used to give essential information about someone or something in order to understand what or who is being referred to A defining relative clause usually comes immediately after the noun it describes

Children who hate chocolate are uncommon

They live in a house whose roof is full of holes

4.3 Non-defining relative clauses

Non-defining relative clauses used to give extra information about the person or thing It is not necessary information We don‟t need it to understand who or what is being

referred to Commas or parentheses are always used to separate non-defining relative

clauses from the rest of the sentence

John's mother, who lives in Scotland, has 6 grandchildren

My friend John, who went to the same school as me, has just written a best-selling

It may surprise you to know that many of the decisions you will face as a citizen deal with……… (6) The Unites States should use its resources Learning economic

………….(7) can help you make decition about candidates for political office, political and social………… (8), and the goals the Unitad States should sets for itself, such as how to spend government revenues Many people are familiar with the benefits of government programs such as job………… (9) and Medicare, but how many people aware of the costs

of these programs? Economics can help you to understand………… (10) costs and benefits and, therefore, help you make better decisions

5.2 Circle the correct phrase that describe the sentences

1 This is the house that was broken into

A relative pronoun is necessary B relative pronoun is not necessary

2 Is this the boy who plays the piano?

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A relative pronoun is necessary B relative pronoun is not necessary

3 We ate the sweets which my mother had bought

A relative pronoun is necessary B relative pronoun is not necessary

4 Do you know the man who is speaking on the phone?

A relative pronoun is necessary B relative pronoun is not necessary

5 This is the picture that Jane painted

A relative pronoun is necessary B relative pronoun is not necessary

5.3 Decide the clauses in bold are defining relative clauses or non-defining relative clauses

1 An elephant is an animal that lives in hot countries

2 My grandmother, who is dead now, came from the North of England

3 Let's go to a country where the sun always shines

4 I've just come back from London, where John lives

5 We stopped at the museum, which we had never visited before

6 The reason why I came here today is not important

7 Yesterday I met a woman named Susan, whose husband works in London

5.4 Rewrite each of the sentences so that the meaning stays the same

1 A man phoned and asked for yọu He spoke with a foreign accent

-> The man who ………

2 The Night Manager was written by John le Carre It's about a man who works in a hotẹl -> John le Carre which………

3 Our party belives in that idea I say this from the bottom of my heart

-> That is an idea

4 Atlanta is a city The Olympic Games were held in Atlanta

-> Atlanta where………

5 Both her sons work abroad They ring her up every week

-> Her sons, who ………

6 I told you about a person She is at the door

-> The person who………

7 Jack's car had broken down He had to take a bus

-> Jack, whose car………

8 I bought a new computer It cost me a lot of money

-> The new computer which ………

9 I got a train I wanted to go to a station The train didn‟t stop there

-> The train which ………

10 This is the bank We borrowed the money from it

-> This is the bank from which ………

5.5 Translate into Vietnamese: What is economics?

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Unit 2: MICROECONOMICS AND MACROECONOMICS

1 Vocabulary

Microeconomics

Behavior

Output

Scarce

Scarcity

Alternative

Typical

Equilibrium

Ex:Generalequilibrium theory Quantity

Interference

Shortage

Dominate

Macroeconomics

Trends

Level

Inflation

Performance Balance Ex: Balance of payment

Imbalance Admire Extreme Stagnate Stick Deficit Impact Fiscal Focus Analysis Instrument Tool Policy Monetary (n) (n) (n)

(adj) (n) (adj) (adj) (n) (n)

(n)

(n) (v) (n) (n) (n) (n) (n) (n) (n) (v) (adj) (v) (v) (n) (n) (adj) (n) (n) (n) (v) (n) (adj) [ˏmaikəʊi:kəˊnɔmiks]

[biˊheiviə] [ˊautput] [skeəs] [ˊskeəsəti] [ɔ:lˊtə:nətiv] [ˊtipikl] [ˏi:kwiˊlibriəm] [ˊkwɔntəti] [ˏinˊtəfiərəns] [ˊʃɔ:tiʤ] [ˊdɒmineit] [ˏmækəʊi:kəˊnɔmiks]

[trend] [ˊlevl] [inˊfleiʃn] [pəˊfɔ:məns]

[ˊbæləns] [ˏimˊbæləns] [ədˊmaiə] [ikˊstri:m] [ˊstæɡneit] [stick] [ˊdefisit] [ˊimpækt] [ˊfiskəl] [ˊfəʊkəs] [əˊnæləsis] [ˊinstrumənt] [tu:l]

[ˊpɔləsi]

[ˊmʌnitəri]

: kinh tế vi mô : hành vi : sản lượng : khan hiếm : sự khan hiếm : khác nhau : đặc trưng, điển hình

: sự cân bằng

: thuyết cân bằng tổng thể : số lượng

: sự can thiệp : sự thiếu : chiếm ưu thế

: kinh tế vĩ mô : xu hướng

: mức : lạm phát : sự thực hiện : cân bằng, cán cân, số dư : cán cân thanh toán : mất cân bằng : khâm phục : thái cực : đọng, đình đốn : sa lầy, mắc vào : thâm hụt

: tác động : tài chính, tài khóa, thu chi : trọng điểm, điểm

: sự phân tích : phương tiện : công cụ : chính sách : thuộc tiền tệ

2 Reading

2.1 Microeconomics

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Microeconomics deals with the economic behavior of individual economic mainly households and firms, and of particular markets and industries The focus is on the prices and outputs of particular goods and services and on how markets interact to determine the allocation of scarce resources among millions of alternative uses Typical microeconomics questions include: What determines the relative prices of particular goods, the prices of cars and stereos and bread and books? How does the total national output get divided among various goods and services? Through microeconomics theory, one can see how the system of market prices allows equilibrium to be reached between people‟s tastes for different goods and scarcity of total resources to produce them Supply and demand analyses are two of basic tools of microeconomics analysis and can be used to see how taxes affect prices and quantities, how government interference with markets can cause shortages, and what happens when a small number of producers come to dominate a market

agents-2.2 Macroeconomics

Macroeconomics is the study of overall economic trends such as employment levels, economic growth, balance of payment, and inflation It is an important subject for many reasons For one, macroeconomics performance is a central factor affecting the success or failure of nations Countries that grow rapidly and without imbalances are admired because their citizents enjoy high and rising living standards At the opposite extreme are countries that stagnate and seem stuck in a situation of high inflation and high trade deficits

In addition, macroeconomics is an important topic because a government can have a major impact on its economic performance through its economic policies – through fiscal policy (government spending and taxing) and monetary policy (changing the money supply)

The central focus of macroeconomics analysis and policy is on four main areas: gross national product (GNP), employment, inflation and the balance of payments As modern macroeconomics has developed, knowledge has grown about how public policies affect the economy We now understand better the instruments or tools of macroeconomics policy They include fiscal policy, monetary policy, income policy and foreign economic policy

3 Comprehension

3.1 Read the text about microeconemics and answer these questions

1 What does microeconemics deal with?

2 What does microeconemics focus on?

3 Does microeconemics analyze what influences the prices of particular goods?

4 What can bring about a balance between people‟s tastes for different goods and the scarce resources needed to produce them?

5 In microeconemics what are supply and damand analyses considered to be?

3.2 Read the text and answer these questions

1 What is the important of macroeconemics?

2 What does macroeconomics study?

3 The article discusses countries at 2 opposite extreme, what are they?

4 What does fiscal policy deal with?

5 How can the government have a major inpact on a country‟s economic performance?

6 What are the 4 main areas that macroeconemics focus on?

7 What are 4 tools of macroeconemics policy?

8 What do modern economists know more about than in the past?

9 What is the difference between microeconemics and macroeconemics?

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4 Grammatical point: Get + past participle

When get is followed by a past participle, the meaning is very similar to that of a passive form Get + past participle can be used in two cases:

- When we are talking about things that are done suddenly, unexpectedly or by chance:

My brother got hit by a ball

- When we are talking about things that we do to ourselves

When the alarm clock rang, he got up quickly and got dressed

5 Word study

5.1 Find a word to complete the following sentences

1 A rapid rise in prices is called ………

2 Macroeceonomics is study of overall economic ………

3 Increases in real GNP are called government‟s…………

4 Monetary policy should be constracted without Fiscal ……… which refers to

government borrowing, spending and taxation

5 Fiscal policy consits of ………… and …………

6 The central bank has ability to alter the money…… and thus influence the interest rate

7 They……… The prices of their goods by calculating total costs and adding a little bit more for profit

8 The total profits of that conpany………….among the different owners according to how much they invested in the company

9 Even though that factory consumes more inputs than this one, the……….is less

10 The ……… of water in that area makes it difficult to plan rice

5.2 Turn the following sentences into the passive using get+past participle

1 Somebody broke the window last night

2 The burglars cut a big hole in the door

3 A rainstorm flooded our camp

4 Students are doing a lot of the work

5 Somebody stole my dog this morning

6 They feed the tigers at the zoo twice a day

7 People must not leave bicycles in the hall

8 Lightning struck the big tree

9 He hurt his thumb when using the stapler

10 She stucks her fingers in a bowling ball

5.3 Fill in the blanks with "get"+ the past participle The tenses indicated in the brackets

1 The window very easily (break - past tense)

2 It sometime next week (fix - future tense)

3 Pedro on Friday (pay - present tense)

4 The cake _ (frost - present continuous tense)

5 The lights incorrectly (install - past tense)

5.4 Translate into Vietnamese: What is Macroeconomics? (yêu cầu dịch nên rõ ràng và

đúng với tiêu đề bài đọc hơn)

: các yếu tố ngoài giá tác động tới cung

: dịch chuyển đường cung : giá trần

: giá sàn : các yếu tố sản xuất

2 Reading

2.1 Demand

Demand decribes how price influences buyer behavier If the price of a specific good

or service increases, the quantity a buyer will purchase will decrease If the price decreases,

the quantity a buyer will purchase will incresse

However, more than just price influences how much a buyer wishes to purchase In order to focus on the influence of price on a buyer, we must hold all the other possible influences constant Economists call factors other than the price of the specific good that influences how much a buyer purchases the shift factors of the demand, or society‟s income, prices of the other good, expectations, and tastes

Demand curve shows the price influence on buyers In the terminology of economics,

a price change causes a movement along a given demand curve An increase in price will decrease the quantity demanded We must be able to illustrate on our model how influences other than price, called shift factors, affect decisions to buy On our demand model, we illustrate a change in one of these factors by a shift of the entire demand curve to the right or

to the left In the language of economics, if higher incomes cause the buyers of a specific good to be willing and able to buy moreat various prices, this event is expressed as an increase in demand and is modeled as a shift of the demand curve to the right If buyers are willing and to buy less at all of the various prices, there is a decrease in demand, and the demand curve shift to the left

2.2 Supply

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The seller, just like the buyer, will be influenced by prices when deciding how much

to provide or produce But for the seller, as the price of a good or service rises, the quantity supplied will increase As price decreases, the seller will produce

less and the quantity supplied will decrease

Other forces besides price affect sellers‟ willingness and ability to sell at various prices These forces are called shift factors and include changes in prices of inputs, technology, taxes, and suppliers‟ expectations These factors are held constant as we discuss how price influences the seller

In the language of economics, any change in price will cause a change in quantity supplied On the graph this is shown as a movement along a given supply curve However, our model must also illustrate how the shift factor influence seller decision-making A change in one of these factors is said to cause a change in supply and is modeled as a shift

of the entire curve An increase in the costs of producing a good result in a decrease in supply We would model it by shifting the supply curve to the left

You need to be clear on the difference between an increase in supply and an increase

in quantity supplied An improvement in production technology would cause an increase in quantity supplied

3 Comprehension

1 Which of the following statements about the law of demand is false?

a Price and quantity demanded are inversely related

b An increase in price results in a decrease in quantity demanded

c A decrease in price results in a decrease in demand

d The shift factors in demand are held

2 The law of supply states that as price increases,

a sellers are motivated to product more

b A reduction in production costs

c Higher family incomes

d Government-imposed price ceilling

4 Which of the following indicates a change in supply?

a Technological improvement in the production process

b Movement along a particular supply curve

c Higher prices, causing an increase in quantity supplied

d Quantity supplied decreases as price increases

e b and c

5 If the demand for tennis rackets increases, which of the following is not likely to happen?

a The price of rackets will increase

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b The price of rackets will decrease

c The racket demand curve will shift to the right

d The quantity of rackets sold will increase

6 An increase in supply occurs if

The first conditional used to talk about future events that are likely to happen

If you give me some money, I'll pay you back tomorrow

If they tell us they want it, we'll have to give it to them

If you put your money in a saving account, it will earn interest

5 Word study

5.1 Match the sentences halves

1 If we pay late,

2 If you deliver this week,

3 If you give us a 10% discount,

4 If you exceed the sale target,

5 If you pay cash,

a they‟ll give you a bonus

b we‟ll give you an extra discount

c they‟ll close our account

d we‟ll pay all transport costs

e we‟ll place our order early next week

5.2 Complete the conditional sentences with the correct form of the verbs in brackets

1 We‟ (give) her a free gift if she (increase) her order

2 If you _ (place) regular order, we (cover) transport costs

3 If you (not increase) the discount, we (not be able to increase) the size of order

4 If I (lose) _ this order, I‟m afraid it _ (affect) my commission

5 If she (plan) _ to borrow money, she _(want) to know the interest rate

6 If sales (continue) to fall, we‟re afraid we (have to) discontinue this model

7 If a product (be) economical, it (not cost) a lot of money to use

8 They _(need) to be paid overtime if they ( have to) work weekends

9 If they (be) paid overtime, our product costs (increase)

10 If we _(place) an order this week, you (be able to) ship the goods within ten days?

11 You _(have to) pay within 30 days and cover insurance as well if we (agree) to let you pay by letter of credit

12 If we (pay) by bank transfer, you (give) us a bigger discount?

13 If you (ship) the goods quickly, we _(place) regular order with your company

14 If you (be) independent, you (can/work) well withour the help of other people

15 If they _(have) an online catalogue, we _(not/ have to) ask them to send us one

5.3 Translate into Vietnamese: Demand

(n) (n)

(adj)

(n)

(v)

(n) (n)

: luân chuyển, lưu hành : bản vị

: bản vị tiền tệ

: bản vị hàng hóa

: sự đối lưu hàng hóa : hệ thống kinh tế hàng đổi hàng

: quy ước : đồng tiền quy ước : trả góp

: mua trả góp : định giá, báo giá

: yết giá (ví dụ có liên quan?) : tiền hàng

: tiền thẻ

2 Reading

2.1 The concept of money:

Money is a commodity accepted by general consent as a medium of economic exchange It is the medium in which prices and values are expressed It circulates from person to person and from country to country, then facilitating trade, and it is the principal measure of wealth

2.2 The functions of money:

All modern societies use money With money people can easily trade goods and services with one another That is money promotes trade Money serves a medium of exchange, a measure of value, a store of value, and standard of deferred payments We discuss each of these functions of money in turn

a Money as a medium of exchange

Workers exchange labour services for money People buy or sell goods in exchange for money Money is a medium through which people exchange goods and services What is a medium exchange? A medium of exchange is anything that is widely accepted in payment

for goods and services and in settlement of debts Money is the most common medium of exchange

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b Money as a measure of value:

The second function money is a measure of value Just as we need measure for distances, weights, and energy, so we need measure for the value of things offerred at the market

Money measures value in it units of accounts The unit of account is the unit in which prices are quoted and account are kept In Britain prices are quoted in pound sterling In the United States dollar, and in Vietnam VND

c Money as a store of value:

Money also functions as a store of value Money is a store of value because it can be used to make purchases in the future This means that if we choose not to buy with our money today, we can save it to buy in the future If money were a perfect store of value, we could buy the same items next year as we could today with the same amount of money But money does function poorly as a store of value when there is inflation in the economy

d Money as a standard of deferred Payments:

The last function of money is a standard of deferred payments or unit of account over time When you buy something but do not pay for it immediately, your payment is expressed in terms of money to be paid in the future With the wide use of instalment

buying, this function of money has become increasing important Different kinds of money:

The most important types of money are commodity money, and token money

Commodity Money: commodity money is a useful good that serves as a medium of

exchange As a result, the value of commodity money is about aqual to the value of the material contained in it The principle materials used for this type of money have been gold, silve and copper In accient times various articles made of these metals, as well as of iron and bronze, were used as money, while among primitive people such commodities as shell, beads, elephant, tusks, furs, skins, and livestock served as a medium of exchange The gold coins in circulation in the US beefore 1933 were examples of commodities money

Token money: Token money is a mean of payment whose value or purchasing power as

money greatly exceeds its cost of production or value in uses other than as money A $10 note is worth far more as money than as a 3x6 inch piece of high quality paper Similary, the monetary value of the most coins exceeds the amount you would get by melting them down and selling off the metal they cotain

3 Comprehension

1 What is money?

2 What are functions of money?

3 What is a medium of exchange?

4 What is a unit of account?

5 Why is it said that money is as a store of value?

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6 Why is it said that money is as a standard of deferred payment ?

4 Grammatical point: Relative pronouns and relative adverbs

- The relative adverbs can be used to join sentences or clauses They replace the more

formal structure of preposition + which used to introduce a relative clause

- In English, the relative adverbs are: where, when & why

Relative

adverbs Position Examples Function

* where after nouns that

refer to places

- The house where Mozart was

born is now a museum

- I flew to Munich, where I had to

catch another plane to Oslo

- defining relative clause

- non-defining relative clause

* when after nouns that

refer to times and dates

- I can't remember a time when I

was so happy

- The most stressful day of the

week is Monday, when people go

* why after “reason” - The reason why I didn't call you is

that I've lost your phone number

- only in defining relative clauses

5 Word study

5.1 Circle the correct option

1 This is the time of the year many people suffer from hayfever

a when b where c which d that

2 This is the girl mother is from Canada

a who b whose c which d when

3 An actress is a woman _ plays in films or theatre plays

a who b whose c what d that

4 A castle is a place a king or queen lives

a who b where c whose d that

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5 My friend, Jack, _ parents live in Glasgow, invited me to spend Christmas in Scotland

a who b where c whose d that

6 A warehouse is a large building _goods are stored until they are distributed to shop

a who b where c whose d whom

7 A recession is a period of time the economy is doing badly

a who b whom c when d that

8 Peter comes from Witney is near Oxford

a who b where c whose d that

9 A brand is a name _ makes it easy for customers to recognize a product

a who b which c whose d where

10 Is this the person _ you asked me about?

a whom b where c whose d that

11 Have you received the parcel _ we sent you?

a who b where c whose d that

12 That‟s the girl _ brother sits next to me

a who b where c whose d that

13 The meal, wasn‟t very tasty, was expensive

a who b where c whose d that

14 A retailer is a person owns or runs a shop selling goods to members of the public

a who b where c whose d that

15 She gives her children everything _ they want

a who b where c what d that

16 Tell me you want and I‟ll give it to you

a what b where c whose d that

17 The reason I phoned him was to invite him to party

a who b why c whose d that

18 Sick lease is a period of time _you stay away from your job because you‟re ill

a who b whom c when d that

19 The day _ they arrived was Sunday

a who b where c when d that

20 Noon is the time _ we eat lunch

a who b where c when d that

5.2 Fill in the gaps with words from the box

corparate launch commerce circulate involve

1 Hong Kong has always been a center of

2 How many people are in making the new product?

3 The lastes model of our electric car will be on 1 January 2005

4 When a firm begins to do badly on the stock market, plans are often made to change its _

5 A letter that is sent to many diferent people in company is called a letter

Vietnam Bank for Agriculture

and Rural Development

Deposit (n)

Deposit account (time deposit) (n)

Checking account(demand deposit)(n)

: tiền gửi : tiền gửi có kỳ hạn : tiền gửi không kỳ hạn : tài khoản tiết kiệm : chuyển tiền

: lãi suất : khoản vay : bảng tổng kết tài sản : vốn dự trữ

: bất động sản

2 Reading

Banks are sistitutions that accept various types of deposits and use the funds attracted primarily to gain loans We use the terms “banks” generically here to encompass not only the commercial banks where the most people maintain checking accounts but other depository institutions such as saving and loan associations, mutual saving banks, and credit union as well Formerly, commercial banks were distinct from other depository institutions

in their activities and funtions, and differences still persist However, as a result of deregulatory financial legislation in the 1980s, the distinctions have diminished- the depository institutions are today more homogeneneos in nature For example, all these institutions are authorized to issue checking accounts and make loans We will therefore consider all of them to be “banks”

Banks are key finacial intermediaries- institutions that serve as “middlemen” in the transfer of funds from savers to those who invest in real assets such as houses, equipment, and factories Financial intermediaries promote economic efficiency by gatheing the surplus funds of millions of individual savers and performing this function, financial intermediaries improve the well-being of both savers and investors By improving economic efficiency, they raise living standards

19

3 Comprehension: Read the text and answer the following questions

1 What are the banks?

2 What are the major functions of banks?

3 Were commercial banks different from other depository institutions in their activities and functions?

4 Are all banks and other depository institutions authorized to issue checking accounts and make loans?

4 Grammatical point: Passive voice

4.1 Use: Passive voice used when we focus on the action It is not important or not known,

however, who or what is performing the action

My bike was stolen yesterday

The letter has written by my sister

4.2 Form:

S + Be + PP + (by … )

 Present/past simple tense

[S] + (am/is/are/was/were) + pp

Yesterday, my friend bought a new bike

Yesterday, a new bike was bought by my friend

 Present/past continuos tense:

S + (am/is/are/was/were) + being + pp

The builders are building a new school

A new school is being built by the builders

 Present perfect/past perfect tense

[S] + [have/has/had] + [been] + [pp]

Our company has bought some new cars

Some new cars have been bought by our company

Stamps can be bought at any ofice

The children need be cared

5 Word study

5.1 Fill in the gaps with words from the box

funds lack order subsidies write off manpower

20

1 Some developing countries are fortunate if the banks _their long

outstanding debts

2 Cheap _alone is no guarantee of high productivily

3 In the last fiscal year many Americal companies suffered from a _of cash and had to borrow heavily

4 Many people became insolvent because they didn‟t have sufficient liquid _ to pay back loans they have taken up

5 Many goverments are offering companies favorable _to open factories

in underdeveloped regions

5.2 Write passive sentences in Simple present

1 The documents / print ………

2 The window / open ………

3 The shoes / buy ………

4 The car / wash ………

5 The litter / throw away ………

6 The letter / send ………

7 The book / read / not ………

8 The songs / sing / not ………

9 The food / eat / not ………

10 The shop / close / not………

11 The test / write………

12 The table / set ………

13 The lights / switch on ………

14 The house / build ………

15 Dinner / serve ………

16 This computer / sell / not ………

17 The car / stop / not ………

18 The tables / clean / not ………

19 The children / pick up / not ………

20 The postcard / send ………

5.3 Change the following sentences from active into passive form

1 Somebody has taken my briefcase

2 The teacher returned our written work to us

3 She had finished her report by soon

4 The mad dog bit the little boy

5 The police have arrested five suspects

21

6 The doctor ordered him to take a long rest

7 lightening struck the house

8 A group of students have met their friends at the rail way station

9 They didn‟t allow Tom to take these books home

10 The teacher won‟t correct exercises tomorrow

11 Marry has operated Tom since 10 o‟clock

12 This is the second time they have written to us about this

13 Mr Smith has taught us French for two year

14 They didn‟t look after the children properly

15 Nobody swept this street last week

16 People drink a great deal of tea in England

17 People speak English all over the world

18 Tom was writing two poems

19 She often takes her dog for a walk

20 They can‟t make tea with cold water

21 The chief engineer was instructing all the workers of the plan

22 Somebody has taken some of my book away

23 They will hold the meeting before the May Day

24 They have to repair the engine of the car

25 The boys broke the window and took away some pictures

26 People spend a lot of money on advertising everyday

27 They may use this room for the classroom

28 The teacher is going to tell a story

29 Marry is cutting the cake with a sharp knife

30 The children looked at the women with a red hat

31 She used to pull my hat over my eyes

32 For the past years, I have done all my washing by hand

33 A pair of Robins has built a nest in the porch since last week

34 The police haven‟t found the murderer yet

35 They sold one of her paintings at $1,000

36 I will put your gloves back in the drawer

37 People speak English in almost every corner of the world

38 You mustn‟t use the machine after 5.30 p.m

39 Luckily for me, they didn‟t call my name

40 After class, one of the students always erases the chalk board

[ bri:f ]

[diˊfain]

[riˊsə:ʧ ] [ɔbˊʤektiv]

: ngắn gọn, vắn tắt : xác định

: nghiên cứu : mục tiêu : thi hành, thực hiện : giải thích, lý giải : bắt ai phải suy nghĩ, nghiền nghẫm : những giả thuyết

: phương pháp quan sát : phúc đáp, trả lời : mẫu hàng, mẫu sản phẩm : dùng thử, thử hàng mẫu : phần, đoạn

: chia thị trường thành nhiều phần khác nhau

: đại diện : người đại diện : cuộc điều tra, xem xét : phán đoán

: trình bày sản phẩm ra công chúng : theo dõi, quan sát, kiểm nghiệm : đánh bại

: tang vật : việc nghiên cứu thực tế

2 Reading

In business, demand is always changing and therefore it is essential to know how things are changing Market research requires a special form of skill and therefore market research companies are often employed because they have the necessary experience and also because market research takes up a lot of time

There are the four steps in market research process: firstly defining the problem and the research objectives, secondaly devoloping the research plan, then implememting the plan, finally interpreting anfd presenting the findings

23

Defining the problem and research objective is often the hardest step in the research process The manager may know that something is wrong, but not the specific causes For example, managers of a discount retail chain store hastily decided that falling sales were caused by poor advertising When the research showed that the current advertising was reaching the right people with the right message, the managers were puzzeled It turned out that the store themselves were not providing what the advertising promised

When the problem has been carefully defined, the research objectives must be set The research may be exploratory in order to gather imformation to better define the problem It may be descriptive – in order to describe market potential, customer attitudes, Sometimes, it may be causal – to test hypotheses about causes – and – effect relationships: for example, would a 10 percent decrease in price lead to significantly higher or not?

The second step involves developing a plan for colleting the information The information may be available in the form of secondary data-i.e it already exists somewhere

or it needs to be collected specifically for this project – primany data

Primany data collection calls for decisions about the research approaches, contact methods, sampling plan and research instruments

There are three main research approaches: the observing relevant people, actions and sititutions For example, a museum checks the popularity of certain exhibits by noting the floor wear around them This approach is most suited where the objective is exploratory

For descriptive research, surveys are the best suited These can be structured using formal lists of questions asked of all respondents in the same way or understand where the interview is guided by the respondent‟s answers

Finally for causal research, an experimental approach is most effective Experiments involve selecting matched groups of subject, giving them different treatments, controlling unrelated factors and checking for differences in group responses

We will look at contact method in more detail in different part Briefly, information can be gathered either by mail, telephone or personal interview

Another decision which has to be made concerns the sampling plan A sample is segment of the population selected to represent the population as a whole There are three variables here: firstly, the sample unit Who is to be sampled? Secondary, the sample size, how should be surveyed? Thirdly, the sampling procedure, how the people be chosen: at random, at convennience, on the basic of prejudgement?

Finally, in developing the research plan, a choice must be made in terns of the research instrusments The most common is the questionaire In preparing the questionaire, the market researcher must decide what questions to ask, the form of the question (e.g open/closed, multiple choice), the wording of the questions and their ordering Although questionaires are the most common instrusment, mechanical instrusments such as a galvanometer can be used: this instrument measures the strength of a subject‟s interest or emotions aroused by and exposure to an advert or a picture

Once all these decisions have been made concerning the reasearch plan, the researcher must then put it into action The implementation phase is generally the most expensive and the most subject to error The fieldwork must be monitored closely to make sure the plan is correctly implemented

24

The last phase is interpretation and reporting The researcher should try not to overwhelm managers with statistics, but to present major findings that are useful in the decisions faced by the manegement

Contact methods

Sampling plan

Research instruments a………

………

………

4 Grammatical point: Modals

4.1 Can, Could, Be able to

* Can, could and be able to are used to express ability or lack of ability

- Present and future:

S + can/can‟t/am/are/is/ able to/will be able to/won‟t be able + V(inf not to)

- Past: S + could /couldn‟t/was /were + able to/wasn‟t /weren‟t + able to/ + V (inf not to)

Tom can write poetry very well

Lisa can‟t speak French

Mike is able to solve complicated math equations The support team will be able to help you in about ten minutes

I won‟t be able to visit you next summer

When I was a child I could climb trees

I wasn‟t able to visit her in the hospital

………

……

25

* Can, could used to express asked permission or given permission

Can/Could + Subject + V (infinitive not to)

Can you lend me ten dollars?

Could I have your number?

4.2 May, Might: Used for:

* Formal permission or formal prohibition

S + may / may not + V (infinitive not to)

You may start your exam now

You may not wear sandals to work

* Polite request

May + S + V (infinitive not to)

May I help you?

* Possibility or negative possibility

S + may/might/may not/ might not + V (infinitive not to)

We may go out dinner tonight Do you want to join us?

Our company might get the order if the client agrees to the price

Adam and Sue may not buy that house It‟s very expensive

They might not buy a house at all

4.3 Shall, Should, Ought to: Used for:

* Offering of assistance or polite suggestion

Shall/Should + S + V (infinitive not to)

Shall we go for a walk?

Should I call a doctor?

Note: Shall is only used with I or we It is used instead of will only in formal English

* Giving advice

S + should / shouldn’t/ ought to + V (infinitive not to)

You should check that document before you send it out

You ought to have your car serviced before the winter

James shouldn‟t teach him words like those

5 Word – study

5.1: Fill in the correct form of can, could or be able to

1 _ Tony run long distances when he was a boy?

2 you please call a tow truck for me? My car broke down

3 The students _ to buy their textbooks today The bookstore is all out of them

4 you teach me how to fix my computer? You‟re so good at it

5 you reach the customer if you call him at 4:00 his time?

5.2 Fill in the correct form of May or might

1 I sit here?

26

2 They finish the project on time The main engineer is ill

3 _ I have your autograph?

4 He _ visit the Louvre He‟s in Paris anyway

5 You park your car here It‟s reserved for guests of the hotel only

5.3 Fill in should, shouldn’t or ought to in the following sentences

1 He _ encourage such bad behavior

1 You _ get your teeth cleaned at least once a year

2 The house be ready to move into by next month It‟s almost finished

3 Ron to improve his attitude If he doesn‟t, he might get fired

4 I get your jacket? It‟s cold in here

5 You put your feet on the table It‟s not polite

5.4 Circle the correct option in each sentence below

1 Which question is correct? 2 Which sentence is NOT correct?

A You can play the violin? A.David can‟t come to work today

B Can you play the violin? B I can‟t to fix your car, I‟m afraid

C Play you the violin? C We can‟t see the television

3 Which question is correct? 4 Which question is NOT correct?

A Can you help me please? A.Which sports can you play?

B You can please help me? B Where I can put this box?

C Can you to help me please? C What time can you come to the office?

5 Which is the correct answer? 6 What is the best reply?

Can your brother speak German? Could I borrow your pen?

A.Yes, he cans A Yes, I can

B No, he don‟t can B Yes, you could

C No, he can‟t C Yes, sure

7 Which word completes the question? 8 Which word CANNOT go in the space?

_ you understand Spanish people _ you drive me to the station when you were in Spain? please?

A.Could A Could

B Can B Can

C Do C Do

9 Which words complete the sentence? 10 Which sentence is correct?

I dance really well when I was A I can‟t to see you today

young, but I now B My parents can come to the party

A could / can‟t C We can visiting you at the weekend

B couldn‟t / can‟t

C can‟t / can

(v) (n)

[ˊpri:miəm]

: thương lượng : mặc cả

: định hướng : điều chỉnh : cung ứng : hỗ trợ : đề đạt, đề xuất : giảm đáng kể : chiến lược : chiến lược định vị thị trường : thỏa thuận kinh doanh

: tiền bổ sung

2 Reading

How are prices set? Through most of history, prices were set by buyers and sellers

negotiating with each other Sellers would ask for higer price than they expected to receive, and buyers would offer less than they expected to pay Through bargaining, they would arrive at an acceptable price

Setting one price for all buyers is a relatively modern idea It was given impetus by the development of large-scale retailing at the end of the nineteenth century

Price is only elememt in the marketing mix that produces revenue, the other elements costs Yet many companies do not handle pricing well The most common mistake are: pricing is too cost oriented, price is not revised often enough to capitalize on market changes, price is set independently of the rest of the marketing mix rather than as an intrinsic element of market-positioning strategy, and price is not varied enough for different product items and market segment

3 Comprehension

According to the text, decide whether the following sentences are true (T) or false (F)

1 Through most of history, sellers and buyers made bargaining to research suitable prices

2 One price set for all buyers is a traditional trend

3 Price has played an important role in buyer choice

4 Companies with sound pricing strategies can gain market share and profitability

5 All elememts in the marketing mix represent costs

28

4 Grammatical point: Raise and Rise

4.1 Raise: used for an action that a person does to someone or something else It is a

regular transitive verb – it requires an object.

Raise means to lift or to elevate

We have raised the price of bread

The student should raise the hand

Raise means to bring up

He wants to raise his children in a big city

4.2 Rise used for an action that a person or animal does by oneself It is an irregular

intransitive verb – it does not take an object (to ascend, go up)

Rise means to ascend to go up

The sun rises in the East (Mặt trời mọc ở phương Ðông.)

Rise means to get up

He rises very early

Rise means to stand up

He rose from the chair

Rise means to increase

The river has risen

Prices have risen 10% this year

When oil and water mix, oil rises to the top

5 Word study

5.1 Complete each sentences with raise or rise

1 The sun ……… every morning

2 He ……… the question of salary

3 Profits ……… last year by 25 percent

4 The company was forced to ……… prices

5 Inflation ……… by 9 percent this year

6 If you have any question ……… your hand and I‟ll try to help you

7 She has ………… three children without her husband‟s financial support

8 Umemployment ……… quikly in the metropolitan areas

9 My dad……… me up everyday

10 I think that taxes need to ………

5.2 Choose the words in each group that makes compound nouns with the given words

[ fainæns]

[kənˊsə:nd [fʌnd]

[siˊkjuərəti]

: tài chính : đề cập tới ai/cái gì : vốn, quỹ

: cho phép ai làm gì : tiền ngân hàng cho vay : tiền mặt

: phát hành : trái phiếu : nhàn rỗi(tiền) : đạt được : được biết đến thông qua : đóng vai trò quan trọng : thị trường chứng khoán : : chứng khoán

2 Reading

Finance are concerned with providing funds to individuals, businesses and governments Finance allows these entities to use credit instead of cash to purchase goods and invest in projects For example, an individual can borrow money from a bank to buy a home And industrial firm can raise money through investors to build a new factory Government can issue bonds to raise money for projects

Finance plays an important role in the economy As banks, credit unions, and other financial institutions provide credit, they help expand economy by directing funds from savers to borrowers For example, a bank accquires large amounts of money from the deposits of individual savers The bank does not let this money sit idle but instead provides loans to borrowers who might then build a house or expand a business The saving of millions of people percolate through many financial institutions, spurring economic growth

A wide variety of financial institutions have different roles in finance and the economy Some institutions act as an intermediary among consumers, businesses, and governments by lending out deposits Other institution, such as stock exchanges, provide a

3 Comprehension: Answer these questions

1 What is finance concerned with?

2 What does the term “these entities” on the text refer to?

3 How can an industrial firm raise money?

4 Prove that finance plays an important role in the economy?

5 What does corporate finance center on?

6 What does public finance focus on?

7 What makes investors buy stock?

8 Where are shares and bonds bought and sold?

4 Grammatical points: The second and the third conditional

4.1 The second conditional

a Use: The second conditional used to talk about:

- Future events that are not likely to happen

If I won a million dollars, I would travel around the world

- Things which are contrary to the present facts

If she worked less, she wouldn't be so tired

b Form:

If + S + V (Simple Past), + S + Would + V(Simple Past)

S + Would + V(Simple Past) If + S + V(Simple Past)

Note: + should, could, might can be used instead of would:

If she didn't have her job, she could come with us to the North Pole

+ "were" is the only form for all personal pronouns

If I were you, I would apologize her

4.2 The third conditional

a Use: The third conditional is used to talk about events that did not happen in the past

If I had woken up on time, I would have taken the bus

Tom would have helped us if he had known we were there

Note: should have, could have, might have can be used instead of would have:

Jessica might have gotten the job if she hadn't been so nervous

b Form:

If + S + V (Past perfect), + S + would + have + V (Past participle)

31

5 Word study

5.1 Use the corret form of the words in the brackets to complete sentences

1 This company has been operating ………… (successful) as Impex international

2 He ……… (sleep) this morning, and he was late for work

3 We don‟t think that there is ……… (solve) to this problem

4 Taxation has been used to increase the price and reduce the ………… (comsume) of cigarettes

5 Buyers must take delivery of the goods within seven days of ………… (arrive) at the port

of discharge

5.2 Choose the correct option

1 Last night, I would _ to the pub if I hadn't had so much homework to do

a go b going c be go d have gone

2 The teacher wouldn't have written a test about conditionals if we _them this week

a had studied b hadn't studied c studied d didn't study

3 If the lesson had been more interesting, Easa wouldn't _ asleep

a fell b had fallen c have fallen d be fall

4 If they were late, woule you _?

a complain b complained c wouldn't complain d had complained

5 If Charlie _ a million pounds in a lottery he would still ride a bicycle to work

a wins b winning c would win d won

6 If they late, we‟d close their account

a paid b didn't paid c had paid d have pay

7 We have to turn to another supplier if you able to deliver this month

a have had/were b would/are c wouldn‟t/were d have been/is

8 If you paid by cash, we _deliver this week

a wasn't b wouldn't have been c won‟t d would

9 Monica about the third conditional if she hadn't missed Thursday's lesson

a would learn b would have learned c would be learn d had learned

10 If they didn‟t the contract, they would _disappointed

a won/be b win/be c win/were d won/have been

Listed on the stock exchange

Unlisted securities market

(v) (n) (adj) (n) (n) (n) (n) (n) (n) (v) (n) (n) (v) (n)

(n) (adv) (v) (v) (n)

(n) (n)

: vốn cổ phần : cổ phiếu thường : vốn cổ phần thường : tình trạng phá sản : đòi (khiếu nại) tiền bồi thường : việc kinh doanh mạo hiểm : quản lý, tổ chức

: ngân hàng tư nhân, ngân hàng thương mại

: ngân hàng bù trừ, ngân hàng nông nghiệp

: cấp tiền, vốn cho : người môi giới chứng khoán : lãi xuất

: nhanh chóng, sâu sắc : thu hút tiền

: dao động thất thường : sự dao động thất thường : thị trường chứng khoán không đăng ký

: thị trường chứng khoán chưa niêm yết

2 Reading

To ensure a company‟s long – term survival and prosperity, finance managers need to make decisions about the gearing of the company Gearing is the relationship between equity capital invested in the business and long – term bebt The higher gearing (in other words, greater the proportion of long – term debt), the more exposed the company is in times of economic difficulty

In the first form of equity is owner‟s capital This is the most exposed form of capital since a return is received only after all other calls on a company‟s profits have been satisfied In an extreme case – bankruptcy – the owner‟s equity will be repaid only after everyone else, including employees, creditors, banks, ect, has received what they are owed

On the other hand, in successful time, the owners have a claim on all the net profit of the company

An owner does not need to rely on his or her own funds She/He can go to the other sources of equity finance There are three main sources: firstly venture capital: this is

33

usually provided by venture firms interested in financing high – growth companies However, the provider usually demands such a faster and higher rate of return than an owner would expect from his/her own capital On the other hand, the venture capital company does not usually interfere in running of the company

Another source of equity finance is the unlisted securities market- sometimes called the second or third market This has advantage of allowing a company to raise money from outside investorss without losing much control of the company

The last source is available only to large conpanies – the Stock Exchange If a company gains a listing on the Stock Exchange, this will provide the long – term opportunity of raising capital by issuing fresh shares However, at least 25 percent of the equity must be in public hands – thereby reducing the control of the original owners

Companies prepared to increase their gearing can raise capital through long – term loans They can go to sources such as the clearing banks, merchant banks and even pension funds However, in all three cases they will usually secure their debt over the fixed assets of the business and, of course, interest must be paid, usually linked to bank base rate

In times of prosperity, a high gearing will give the owners a much better return as net profits will be a much higher percentage of equity after interest payments on the long – term debts However, in harder times, the owner‟s earing will drop dramatically as interest payment soak up most of the company‟s profits

3 Comprehension

Read the passage, then complete the Chart

Sources of funds Advantages/disadvanteges

4 Grammatical points: Comparisons of adjectives

4.1 Comparative adj:

Use: Comparative adjectives used to compare the differences between two people, two

things or two places

I am taller than my sister

The yellow hat is more expensive, than the green hat

Form: S1 + be + SA+er + than + S2

S1 + be + more/less + LA + than + S2

Note: - Adjectives that have 2 syllables and end in - y change the -y to -i and add -er

I came home earlier than my sister

- More or less used for adjectives that have 2 syllables that do not end in -y

34

Police officers are usually more honest than criminals

The last test was less difficult than the test today

- Adjectives that end in -e, only -r is added

The beach is nicer than that park

Airplanes are safer than cars

- Adjectives that end in with a consonant, vowel, consonant - the last consonant is doubled

My house is bigger than my sister‟s house

- Irregular:

Good – better bad – worse far – further

Little – less much (many) – more

4.2 Superlative adj:

Use: Superlative adjectives used to describe the extreme quality of one thing in a group of

things (the tallest, the smallest, the fastest, the highest)

Form: S + be + the S.Adj + est

S + be + the most L.Adj

Note

- Adjectives that have 2 syllables and end in - y change the -y to -i and add est

She's the luckiest person I know

- Adjectives that end in -e, only -st is added

My mother is the nicest person

- Adjective that end in with a consonant, vowel, consonant - the last consonant is doubled

- The following adjectives have irregular forms:

good - the best bad - the worst little - least

far - the farthest/furthest much (many) – most

5 Word study

5.1 Generate other forms of these verbs

Verbs Nouns(concept) Nouns (agent)

35

5.2 Select the correct comparative

1 Peter is than Paul

a taller b more tall c more taller

2 That shirt is than this one

a expensiver b more expensive c expensive more

3 Her car is much than my car

a faster b more fast c fastter

4 Tina's dress is than Lucy's dress

a beautifuller b more beautiful c most beautiful

5 I am than you

a more fat b fatter c fater

6 I think Peter is than Paul!

a happier b more happy c happyer

7 France is than Belgium

a bigger b more big c biger

8 My pizza looks than your pizza

a deliciouser b more delicious c delicious more

9 Michael is a driver than Toby

a gooder b more good c better

10 Today it is than it was yesterday

a colder b more cold c cold more

5.3 Complete these sentences with the corect comparative or superlative form of the adjectives in brackets

1 It‟s much ……… (hard) to raise money on the Stoke exchange

2 Increasing owner's capital is ……… (risky) way of raising money for investment

3 The banks will be ……….(cautious) than the securities market

4 Interest rates are much ……… (high) this year than last

5 The …………(safe) method of increasing working capital is to plough back profits

6 A fixed-term loan is ………(flexible) than a fluctuating overdraft

7 On the other hand, a medium-term loan is …(easy) to control than a fluctuating overdraft

8 Venture capital is much ……… (difficult) to raise than we are to led to believe

9 The stock exchange rules are much ……… (formal) than the USM

10 Expansion is ……… (attractive) in times of low interest rates

Capital transfer tax

Added- value tax

Capital gains tax

Dissuade sb from sth/doing sth

Make sb/sth look different

from normal

(n) (n) (n) (n) (n) (n) (n) (n) (n) (n) (n) (n) (v.ph) (v.ph)

: thuế bán ra : tránh đánh thuế : trốn thuế

: thuế lũy thoái : thuế lũy tiến : ngan cản, cản trở : cải trang

2 Reading

Most of money to run the Government comes from taxes of all sorts – on personal and corporate incomes, on sales of goods, on inport and on inheritances The ultimate source of all tax money is the same-people

The primary function of taxation is, of course, to raise revenue to finance government expenditure, but taxes can also have other purpose Indirect excise duties, for example, can

be designed to dissuade people from smoking, drinking alcohol, and so on Government can also encourage capital investment by permiting various methods of accelerated depreciaion accounting that allow companies to deduct more of the cost of investment from their profit, and consequently reduce their tax bills

There is always a lot of debate as to the fairness of tax system Business profit, for example are generally taxed twice: companies pay tax on their profit (corporation tax in Britain, income tax in the USA) and the shareholders pay income tax on dividends Income tax in most countries are progressive, and are one of the ways in which governments can redistribute wealth The peoblem with progressive tax is that the marginal rate – the tax people pay on any additional income is always high, which is generally a disincentive to

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both working and investing On the other hand, most sales taxes are slightly regressive, because poorer people need to spend a larger proportion of their income on consumption than the rich

The higher the tax rate, the more people are tempted to cheat, but there is a substantial

“black” or “underground‟ economy nearly everywhere In Italy, for example, self – employed people – whose income is more difficult to control than that of company employees – account for morethan half of nation income Lots of people also have undeclared part- time jobs with small and medium – sized family firms, on which no one pays any tax or national insurance At the end of 1996, the Director of The Italian Institute

of Statistics calculated the size of the underground economy, and added 16.7% to Italy‟s gross national product (GNP) figure, and then claimed that Italy had overtaken Britain to become the world‟s fifth largest economy

To reduce income tax liability, some employers give high-paid employees lots of „perk‟ (short for perquisites) instead of taxable money, such as cars, free health insurance, and subsidized lunches Legal way of avoiding tax, such as these, are known as loopholes in tax law Life insurance policies, pention plans and other investment by which individual can postpone the payment of tax, are known as tax shelters.Donation to charities that can be subtracted from the income on which tax is calculate are described as tax – deductible Companies have a varity of ways of avoiding tax on profits They can bring forward capital expenditure so that at the end of the year all profits have been used up; this is kwown

as making a tax loss Multinational companies often set up their head offices in countries, where taxes are low; such countries are known as tax havens Criminal organization, meanwhile, tend to pass money through a series of companies in very comlicated transactions in order to disguise its origin from tax inspectors – and the police; this is known

as launding money

3 Comprehension

According to the text, are the following statements True (T) or False (F)

1 Taxes can be designed both to discourage and to encourage spending

2 The same amount of money can be taxed more than once

3 Progressive taxes may discourage people from working extra hours

4 Sales taxes are unfair because poor people spend more than rich

5 If you pay a lot of your income into a pension fund or a life insurance policy you never have to pay tax on it

4 Grammatical points: Much, many, few, little

4.1 Much and Many

- Much and many used to express that there is a large quantity of something