- •Vocabulary Commentary
- •All yours Manufacturing companies are increasingly using the Internet to give customers the impression of personal service. But true customisation needs new production techniques as well
- •Vocabulary
- •Can Bayer Cure Its Own Headache? Shareholders would like it to shed everything but health care
- •Vocabulary
- •«Байер» перестраивается
- •Nokia's next act Can the Finnish giant stay on top in an age of commodity phones and stalling sales?
- •Vocabulary
- •Canon Cutting Edge By trimming down to four product lines, it's making record profits
- •Halfway down a long road Carlos Ghosn's efforts to meld Nissan with Renault have become the stuff of management legend. But the alliance faces some daunting challenges
- •Can Ford Fix This Flat?
- •Vocabulary
- •Vocabulary
- •A Challenge From the Nimble Newcomers
- •Mergers & Acquisitions Will the latest cycle of European mergers produce better results?
- •Vocabulary
- •Vocabulary Commentary
- •Independent directors at big public companies need to be tougher
- •Vocabulary
- •Vocabulary
- •U r Sakd
- •Is there a nice way?
- •Simon London finds the post of chief operating officer falling prey to a new breed of executive with greater powers and access to the boss
- •The Bottom Line on Options
- •Unit 13 Consolidation
- •Will ceOs Find Their Inner Choirboy?
- •Пролетая над Таити
- •Vocabulary
- •Useful Words and Phrases
- •«Нортел»
- •The Numbers Game Companies use every trick to pump earnings and fool investors. The latest abuse: "Pro forma" reporting"
- •Vocabulary
- •Unit 15
- •I swear… Oaths are only a small step in the business of cleaning up American companies
- •Something must be done
- •Vocabulary
- •Holier Than Thou European sanctimony over American accounting scandals is misplaced
- •Et, the extra-territorial
- •Vocabulary
- •Revenge of the Bean Counters No longer frail in the face of fraud, accounting firms are thriving on new u.S. Laws that give them real clout
- •Half Measures
- •Bad for cfOs, Good for Investors
- •Хранители прозрачности или слуга двух господ
- •Unit 16
- •Up from the ashes Amid a global wave of business failures, American firms are more likely to get a second chance. Unfair competition, or a lesson for Europeans?
- •Eurotunnel vision
- •Vocabulary
- •Var crash
- •Vocabulary
- •Европа уходит за рубеж
- •Goldman's German revolution
- •Have Fat Cats Had Their Day?
- •Unit 18
- •Stronger foundations New proposals for regulating banks are both a step in the right direction and evidence of how hard it is to monitor the riskiness of the banking system
- •Vocabulary
- •Vocabulary
- •Английский характер
- •Unit 19
- •Conflicts, conflicts everywhere Was America wrong to scrap the laws that kept commercial and investment banking apart?
- •Vocabulary
- •Care To Buy Some David Bowie Bonds
- •In Europe, securitization is the hottest way to raise cash
- •Beautifying Branches
- •Instead of axing their branches, banks are inventing new ways to make money out of them
- •Slippery
- •Coffee, Tea, or Mortgage?
- •Life Branches?
- •The world's biggest retailer edges into financial services
- •Гросс-банки сокращаются
- •Feeding Frenzy
- •Tough Questions for aig's Auditors Regulators are probing if PwC let the financial shenanigans slip through
- •Watchdogs with Eyes Wide Shut As investigators pore over the books of aig, it's becoming clear that for years regulators failed to detect lapses
- •Goldman's German Revolution
- •Another Year, Another Scandal
- •Digging out at Allianz The German financial-services giant is back in the black — but still struggling
- •A Dedicated Enemy of Fashion Most companies claim to run their business for the long term. Nestle is one of the few that really does
- •More Pain, Waiting for the Gains Drastic action as gm's cash pile runs down
- •«Морган Стэнли» увольняет сотрудников, чтобы оставшиеся лучше работали
Vocabulary
pro forma |
«ради формы», условные [гипотетические] данные в балансе, счёте прибылей и убытков |
pro forma reporting |
предварительная отчетность |
creative accounting |
креативный (творческий, нетрадиционный) бухгалтерский учет |
window dressing |
приукрашивание финансовой отчетности |
to cook the books |
приукрашивать бухгалтерскую отчетность |
dodge v to dodge accounting rules, taxes, price control Syn: evade |
Уклоняться |
integrity п |
честность, прямота (о качествах служащего, рабочего), целостность, неделимость |
price-earnings ratio р-е, per, р/е |
отношение рыночной цены акции компании к доходу на одну акцию |
gauge v |
измерять, оценивать (человека характер и т. п.) |
to gauge smb's strength |
оценить чьи-либо силы |
to gauge smb by what he does |
судить о ком-либо по его поступкам |
mutual fund |
взаимный фонд |
conservative a |
умеренный; заниженный (напр. о подсчётах); охранительный, охранный; консервативный |
conservative assumption |
осторожное предположение |
disclose v |
раскрывать информацию |
disclosure n |
раскрытие информации |
to dilute capital |
"разводнять" капитал (в результате увеличения акций в обращении) |
dilution of shareholders' capital Syn. watering of stock |
"разводнение" капитала акционеров |
to expense options |
учитывать опционы в качестве расходов компании |
actuarial a |
страховой, относящийся к страховому делу, актуарный |
present value |
приведённая стоимость, текущая стоимость; дисконтированная стоимость (сумма ожидаемого в будущем дохода или платежа минус процент на капитал как «компенсация за ожидание») |
big bath |
списание больших сумм |
recognition n |
признание (регистрация в учетных записях), оценка особенностей статьи перед регистрацией |
reconcile v |
согласовывать, выверять (счета); улаживать, примерять, приводить в соответствие |
reconciliation n |
сверка, выверка (счетов); улаживание, примирение |
Exercise 1. Explain the following phrases. Make your own statements using these expressions and translate them into Russian.
j to sail close to the | wind |
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to cry foul |
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open season (for companies to say what they want) |
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to present oneself in the best possible light |
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to play the numbers game to the hilt |
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Exercise 2. Translate into Russian.
to deliver continually rising sales and earnings; bull market; to evade taxes; bear market; balance sheet; pro forma accounting; bottom line; top line; to pump up profits; to shore up earnings; regulators; to book sales early and costs late; to enhance growth; to be obsessed with growth; to take a huge restructuring charge; to overstate revenues; a biotechnology start-up; operation losses; payroll taxes on stock options; to massage the company's earnings; to mislead unwary investors; net-of-tax earnings; net earnings; retained earnings; taxable earnings; future stream of earnings; a net interest expense; employee stock options; to exercise an option; a charge for restructuring costs; acquisition costs; conservative prediction; a footnote to the annual results; to dilute ordinary shareholders' equity; to deny (admit) allegations; bad debts; longer amortization; return on assets; return on equity; to issue guidelines; to rein in the excesses; to rein in outlay
Exercise 3. Translate into English.
давать инструкции компаниям более подробно раскрывать информацию о крупных списаниях; отчет о прибылях и убытках; раскрывать информацию о списаниях крупных сумм; финансовая отчетность; завышать показатели прибыли; предоставляемые сотрудникам компании опционы на покупку акций; ожидаемая прибыль на активы компании; собственный капитал; уклоняться от выполнения правил бухучета; уклонение от налогов; правила выработанные регулирующими органами; расходы по приобретению компаний, амортизационные отчисления; срок службы активов; строгое выполнение правил бухучета; амортизация неосязаемых активов