新编剑桥商务英语高级第三版第51

5.1

Moneyandfinance

VOCABULARY Moneyexpressions

Howdoyouinterpretthisquotation?

MoneyoftencoststoomuChRalphWaldoEmerson,Essayist

Completetheseflowcharts.Usethewordsinthebox.

do

invest

save

earn withdraw

owe

bet

repay

invoiceddolend

0earnmoneyfbepaidforyourkw^rspendmoney

borrowmoney—money—paybackmoney

money—chargeinterfmakeaprofit

ordergoodfbeforthegoofpayforthegoods

moneyonahorfwinmoneyfcollectyourwinnings

moneyinsharfearninteztfbuymoreshares

gotothebanksomemoneyfspendthemoney

putyourcarupfer^reheiveanoffeadeal

findacaryouwanttofouyegotiateadiscoftmoney

businesfmakeaprofifreinvesttheprofit

beshortofmoneytakeoutad-oatheloan

3What’sthedifferencebetweenthefollowing?

winmoneyandearnmoney

lendandborrowmoney

spendandwastemoney

costsandiworth£300

SPEAKING Abankloan

Workwithapartner.Taketherolesofbankmanagerandloanapplicantandactouttheconversation.Lookatthenotesandplanwhatyouaregoingtosay.

Bankmanager

Youmustdecideifyouareabletolendthemoneytotheapplicant.Findout:

abouthis/herfinancialsituation(salary,otherincome,saving,mainoutgoings,otherdebts).

whattheloanisfor.

Bepreparedtogivedetailsofinterestrates,termsoftheloan,securityneeded,etc.

Loanapplicant

Youneedtoborrowsomemoney.Bepreparedtosay:

whatyouwanttobuy,howmuchmoneyyouneedandforhowlong.

whatyourfinancialsituationis(salary,otherincome,saving,mainoutgoings,otherdebts).

Alsofindoutabouttheinterestrates

andothertermsoftheloan.

LISTENING

ExamSuccess

Youranswerwillbeexactword-for-wordphrasesfromthelisteningtext.Theymustbespeltcorrectly

Acultureofdebt

Discussthesequestions.

Isiteasytogetcreditinyourcountry,forexample,tobuyahouse,acar,anewTV?

Isconsumerconfidencehighatthemoment?Why?/Whynot?

Whatispeople,sgeneralattitudetoborrowinginyourcountry?

Youwillhearpartofalecturegivenbyaneconomistto

agroupofbankersandeconomists.InitshedescribestheimpactofAlanGreenspan,seconomicpolicyontheUSandglobaleconomies.Afriendwhocan,tattend

hasaskedyoutotakesomenotes.Beforelisteningpredictthekindofwordsthatwillgoineachspace.

Listenandcompletethenotesbelow.Useuptothree

wordsineachspace.

BusinessMAGAZINE

THELEGACYOFALANGREENSPAN

Thebackground

AlanGreenspanchangedpeople,sattitudesto.

Peoplehavebeenagainstborrowingmoneysince.

Nowyoungpeopletakeoutloanstopaytheirwaythrough.

Formanyhomeownersit,snormaltohaveasecond.

Thecurrentlendingmarket

Creditiseasyandinterestratesare.

Banksoftenlendmoney.

Insomestatesit,spossibletogetaMortgageewithno.

ReasonsfOrthispolicy

Aslongaspeoplearespending,.

InGermany,intimesofuncertainlypeopletendto.

Thefuture

In2005Americanpersonaldebtwas.

Somepeoplesaywearesittingon.

Assetvalueswillnotcontinuetorise.

Doyouthinkapolicyofborrowandspendhelpstheeconomy?Ordoyouthinksoonerorlatertherewillbeadebtcrisis?

Explainthefollowingfinancialtermsfromthetext.

toremortgageyourhome

tomakeadown-payment

assetvalueswillcrash

tobeinnegativeequity

64trilliondollars

GRAMMARExpressionofcomparison

1Underlinetheexpressionsofcomparisonandtheadverbs/prepositionsthatgowiththem.

0WarsawismuchcheaperthanOslo.

Ifindthetrainmorecomfortablethanthebus.

Wal-martisthebiggestfoodretailerintheUSA.

It,snotasexpensiveasyouthink.

Thetwoarticlespresentthesameargumentsaseachother.

HungarianisadifferentlanguagetoGerman.

AustralianfoodissimilartoNewZealand,s.

IttookmelesstimethanIthoughtitworld.

TheaverageAmericanconsumestwiceasmuchenergyastheaverageEuropean.

Whatword(s)couldyouaddtothestatementsinexercise1toshowthatthedifference(orsimilarity)isbig?Usethesewordstohelpyou(sometimesthereismorethanonepossibility)

muchfarbyfaroververyexactlynearlycompletely0WarsawischeaperthanOslo.

WarsawismuchcheaperthanOslo.

Makecomparisons(differencesandsimilarities)betweenthefollowing.

1youandanothermemberofyourfamily(father,mother,brother,sister,etc)2twocitiesyouknowwell

twoemployersorteachersyouhavehad

yourowncountryandanothercountryyouhavevisited

twocompaniesyouhaveworkedfororcollegesyouhaveattend

4ReadthisarticleaboutenergyconsumptionintheUSA.Writeonewordtofilleachgap.

EnergyconsumptionintheUSA

AlthoughtheUSAhasonly5%oftheworld,spopulation,itis(0)thelargestconsumerofenergy(1)far,consuming26%.Thisis(2)sosurprisingasitisalsotheworld，slargestindustrializedeconomy.However,theUSAdoeswastemoreenergy(3)othernation:gas-guzzlingcarswhichconsume(4)morefuelthantheaverageEuropeanorAsiancar;planeswhichendlesslycriss-crossthecountry.Indeed28%oftheUSA,senergyisconsumedbytransportationand(5)allthistransportusesoilforfuel.

ThestandardforcarfuelconsumptioninAmericatodayis(6)thesameasitwastwentyyearsago-27.5milespergallon.(7)last,however,therearemovesbythegovernmenttocontrolthisconsumption.Politiciansarebeginningtorealizethat,ofalltheplayersintheequation,itisconsumerswhohavethe(8)leverage,nottheoilsupplier.

SPEAKING

Choosinganinvestment

5Inthecitywhereyoulive(180,000people),twoindependentcinemashaverecentlycomeupforsale.Bothareinapopularsuburbofthecity.Thecityhasthreeothercinemas-abigout-of-townmutiplex,asix-screencinemainthecentreoftownandasmallindependentinadifferentsuburb.

Thedetailsofthetwocinemaaregivenbelow.Studytheinformationanddecidewhichyouthinkwouldbeabetterinvestment.

TheLastPicturePalace

Location:

Seatingcapacity:

onemilefromthecitycentreinpopularstudentarea180people

Parkingfacilities:

Currentcostofaticket:

Lease:

Turnoverlastyears:

Costs:

None

£5

15yearsremaining:£15,000p.a.

£110,000

30%ofticketsalestodistributor;£35,000p.a.;runningcosts£10,000p.a.

Facilities:

Condition:

None(ticketofficeandauditoriumonly)

Inneedofrepairandredecoration(£40,000investmentneeded)

Price:

£40,000(includesallfittingsandcinemaequipment)

TheRegalCinema

Location:

Seatingcapacity

Parkingfacilities:

Currentcostofaticket:

Lease:

Turnoverlastyears:

Costs:

Twomilesfromthecitycentreonmainroadoutofcity620people50cars£5

9yearsremaining:£50,000p.a.

£390,000(madealoss)

30%ofticketsalestodistributor;salaries£130,000p.a.;otheroverheadsandtaxes£85,000p.a.

Facilities:

Condition:

singleauditorium,foodanddrinkscounter,barInneedofcompleterefurbishmenttocreatetwonewauditoriums(£300,000investmentneeded)

Price:

£1

6Discussyourideaswithyourpartner,explainingyourreasons.

Usethelanguageboxtohelpyou.

Statingpreferences

PersonallyI,dgoforoptionAbecauseit's…

IthinkoptionAhasmuchmoregoingforit.Forastart,it,s…MypreferencewouldbeoptionAbecause…WewouldbebetteroffbuyingoptionA,because…OptionAoffersbetter…

TheonlydisadvantageIcanseeis…

IhaveseveralreservationsaboutoptionB.firstly,it,s…

IthinkoptionBhasseveraldrawbacks.It,s…OptionB,ontheotherhand,istoo…

Allinall,optionArepresentsthebestsolutionbecause…

VOCABULARYCompanyfinance

Whatfinancialmistakesdoyouthinksmallbusinessesmostcommonlymake?Workwithapartnerandmakealist.

Nottakingoutinsurancetocoverthesuddenlossofasenior/keyemployee.

Putthesewordsintotherightplacetomakepairsoffinancialterms.

Long-termexpenditureaccountsreceivable

netfixcosts

Retainedprofitunprofitablelossdebtor

liabilities

5profit

6dividends

7creditor

8profitable

9accountspayable

0variablecostsfixedcosts

1income

2assets

3gross

4current

Usingthewordsinexercise2completethispassagefromanonlineguideforinvestors.

Understandingfinancialstatements

Tomakegoodinvestmentdecisions,youneedtounderstandthebusinessyou,reinvestingin.knowingwhentobuyandwhentoselldependsnotonlyon

understandingthemarketingeneralbutalsothefinancialhealthofthecompany.Yourfirstportofcall:theannualreport.

Thiscontainstheaccounts-thebalance

Sheet,theincomestatementandthecashflowstatement.We,lldealwithjusttheimportant.Withallfinancialstatements,youmustcomparethesetsoffiguresfromrecentyearstoseehowthecompanyisdeveloping.

Thebalancesheetisasnapshotofacompany,sfinancialpositionatagivenmoment.Imaginetomorrowyoumakealistofeverythingyouown(includingwhatinothersowetoyou)-house,car,moneyinthebank,etc.theseareyour(1).Setagainsttheseeverythingthatyouowe-mortgage,creditcardbill,etc.Theseareyour(2).Thetwocolumnsarewhatmakeupthebalancesheet.

Withacompanybalancesheetyoualsoneedtoconsidertheshareholders,equity(thesharesownedinthecompanybyothers).Thebasicequationisassets=liabilities+shareholders,equity.

The(3)assetsofacompanyareitsbuildingsandequipment.Asaninvestoryoushouldpayparticularattentiontotwokindsofcurrentasset-thestockandtheaccountsreceivable(moneyowedtothecompanybycustomers).Iftheamountofstockisgrowingfast,thenitcouldbethatstockisn,tmoving.Iftheaccountsreceivablefigureislarge,thenthe(4)aren,tpayingtheirbillsquicklyenough.Ontheliabilitysidelooktoseewhetherthedebt,bothshortandlongterm,isincreasing.Isthecompanyborrowingmoreandifso,why?Readthenotestotheaccounts-maybetheywillexplainanythingunusual.Lookalsoataccounts(5)toseeifthecompanyispayingitscreditorsontime.

Theincomestatement(sometimesalsocalledtheprofitand(6)account)showsthecompany5sincomeand(7)overagivenperiod.Itlistsallthemoneygeneratedbysales(theturnover)plusanyotherincome,minusallthecostsinvolvedinrunningthebusiness.Thisproducesthegrossprofitthattellsyouifthebusinessishealthyandoperationally(8)(9)profitistheproverbialbottomline.Itrepresentsprofitaftertaxandinteresthavebeenpaidandistheamountthatcanbedistributedtoitsshareholdersin(10)(thoughgenerallyapartofthisprofitisretainedforre-investment).

Asyoustudytheincomestatementsofrecentyears,getoutyour