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2. Translate the first paragraph in written form.

3. Say whether the following statements are true (a), false (b) or information is not available (c).

1) If the actual figures differ significantly from the budget it is a sign of danger.

2) Machinery is an example of intangible assets.

3) According to the author of this text the second approach to budgeting is more efficient than the second.

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4. Match the words with their definitions.

1. purchase

2. collateral

3. assets

4. budget

5. costs

  1. property or other goods that you promise to give someone if you cannot pay back the money they lend you

  2. the things that a company owns

  3. something you buy, or the act of buying it

  4. the amount of money that you have to pay in order to buy, do, or produce something;

the money that is available to an organization or person, or a plan of how it will be spent

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5. Translate the following words and phrases into English.

1) материальные активы

2) подотчетность

3) механизм ценообразования

4) выручка

5) оборотный (рабочий капитал)

6) переменная

7) курс (цена) акции

8) расходы

9) финансовый отдел

10) составление бюджета

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6. Translate the following words and phrases into Russian.

1) to predict with reasonable accuracy 6. financial models

2) overhead expenses 7. human resources department

3) business budgeting 8. financial spreadsheet

4) mathematical models 9. inputs and outputs

5) profit 10. compile budget

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7. Complete the sentences.

1. The budget of a company is usually compiled.....

a) every week b) every month c) annually

2. ..... is a fundamental tool to predict with reasonable accuracy whether the event will result in a profit, a loss or will break-even

a) budget b) financial model c) overhead expense

3. Traditionally the ..... compiles the company’s budget.

a) manager b) accountant c) Finance department

4. When a company owns some material things they are called ......

a) liabilities b) tangible assets c) intangible assets

5. The managers involved in the budget process have ....

a) responsibility b) duties c) accountability

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