If necessary read the text again and make up a sentence using the words and word combinations from the box:

and tangible assets, The category financial assets. intangible assets, include fixed assets

and cash at bank The and in hand. current assets includes category stocks, investments, debtors,

Exercise 8.6 Read and translate:

Current assets are those assets of a company that are reasonably expected to be realized in cash, sold or consumed during one year or during the normal operating cycle of the business.

Fixed assets are long-term assets acquired for use in business operations. Fixed Assets accounts are also known as Capital Assets, Long-Term Assets, Long-Lived Assets, or Plant and Equipment. The value of these assets – with the exception of land – is depreciated over their expected lives. Past depreciation is recorded in the Accumulated Depreciation account.

The Investments category of a US Corporation’s Balance Sheet includes assets that are not used in the normal operation of a business and that management does not plan to convert to cash within the next accounting period.

The Property, plant and equipment category includes tangible, long-term assets acquired for use in business operations.

Intangible assets are those assets which have no material substance, as compared to tangible or physical assets such as buildings and land.

Other Assets is a category some US companies use for miscellaneous assets that are not specified elsewhere on the balance sheet. Other companies group under this heading investments, intangible assets, and all the other assets owned by a company other than current and fixed assets.

Exercise 8.7

Match the terms with their correct translation:

1. investments	a) керівництво
2. Balance Sheet	b) конвертувати
3. management	c) інше майно (активи)
4. next accounting period	d) де-небудь ще
5. to convert	e) інвестиції
6. miscellaneous assets	f) володіти
7. to specify	g) баланс; балансовий звіт
8. elsewhere	h) заголовок
9. heading	i) вказувати
10. to own	j) наступний фінансовий звіт

Exercise 8.8

If necessary read the text again and fill in the gaps with the proper words from the box:

plant business equipment year tangible cash intangible assets land material

Current assets are those …1… of a company that are reasonably expected to be realized in …2… , sold or consumed during one …3… or during the normal operating cycle of the …4… .

The Property, …5… and …6… category includes …7… , long-term assets acquired for use in business operations.

…8… assets are those assets which have no …9… substance, as compared to tangible or physical assets such as buildings and …10… .

Exercise 8.9 Read and translate:

Study these words first:

1. to comprise	1. включати
2. excerpt	2. відривок
3. EEC (European Economic Community)	3. Європейське економічне співтовариство

“Whether particular assets are to be shown as fixed assets or current assets shall depend upon the purpose for which they are intended. Fixed assets shall comprise those assets which are intended for use on a continuing basis for the purposes of the undertaking’s activities.”

(Excerpt from Directive 78/660/EEC)

Exercise 8.10