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Ozana STRU

Manuela STICU



Descrierea CIP a Bibliotecii Naionale a Romniei Timioara: ; 2009 Bibliogr. ISBN: 978-973-687-859-6


Facultatea de tiine Economice

Asist. Ozana STRU Asist. Manuela STICU


Note de curs pentru uzul studenilor de la FR



TEMA 1 - CE ESTE CONTABILITATEA I CUM FUNCIONEAZ?......................................................................................4 UNIT 1 - WHAT IS ACCOUNTING AND HOW DOES IT WORK? ...4 1.1. READING & SPEAKING ..................................................................4 1.2. BASIC VOCABULARY.....................................................................6 1.3. TESTE DE EVALUARE ....................................................................7 TEMA 2 - PRINCIPALELE REGISTRE CONTABILE.........................9 UNIT 2 - THE BASIC ACCOUNT BOOKS..............................................9 2.1. READING & SPEAKING ..................................................................9 2.2. BASIC VOCABULARY...................................................................10 2.3. TESTE DE EVALUARE ..................................................................11 TEMA 3 - ECUAIA FUNDAMENTAL A PATRIMONIULUI .......13 UNIT 3 - THE BASIC ACCOUNTING EQUATION.............................13 3.1. READING & SPEAKING ................................................................13 3.2. BASIC VOCABULARY...................................................................15 3.3. TESTE DE EVALUARE ..................................................................16 TEMA 4 - PRINCIPALELE TIPURI DE SOCIETI COMERCIALE ......................................................................................................................18 UNIT 4 - MAIN TYPES OF BUSINESS ORGANIZATIONS ..............18 4.1. READING & SPEAKING ................................................................18 4.2. BASIC VOCABULARY...................................................................20 4.3. TESTE DE EVALUARE ..................................................................20 TEMA 5 - CONTUL. DEBIT I CREDIT...............................................23 UNIT 5 - THE ACCOUNT. DEBIT AND CREDIT ...............................23 5.1. READING & SPEAKING ................................................................23 5.2. BASIC VOCABULARY...................................................................25 5.3. TESTE DE EVALUARE ..................................................................26 TEMA 6 - BILANUL CONTABIL.........................................................28 UNIT 6 - THE BALANCE SHEET ..........................................................28 6.1. READING & SPEAKING ................................................................28 6.2. BASIC VOCABULARY...................................................................29 6.3. TESTE DE EVALUARE ..................................................................30 TEMA 7 - VENITURI................................................................................33 UNIT 7 - INCOME .....................................................................................33 7.1. READING & SPEAKING ................................................................33 7.2. BASIC VOCABULARY...................................................................34 7.3. TESTE DE EVALUARE ..................................................................35

TEMA 8 - TAXELE ...................................................................................38 UNIT 8 - TAXES ........................................................................................38 8.1. READING & SPEAKING ................................................................38 8.2. BASIC VOCABULARY...................................................................40 8.3. TESTE DE EVALUARE ..................................................................41 TEMA 9 - CONTUL DE PROFIT I PIERDERE..................................43 UNIT 9 - PROFIT AND LOSS ACCOUNT.............................................43 9.1. READING & SPEAKING ................................................................43 9.2. BASIC VOCABULARY...................................................................45 9.3. TESTE DE EVALUARE ..................................................................46 TEMA 10 - DOCUMENTELE N AFACERI .........................................48 UNIT 10 - BUSINESS DOCUMENTS .....................................................48 10.1. READING & SPEAKING ..............................................................48 10.2. BASIC VOCABULARY.................................................................50 10.3. TESTE DE EVALUARE ................................................................52 REVISION ..................................................................................................54 BIBLIOGRAFIE ........................................................................................61

Aducem deosebite mulumiri d-oarei Ghiiu Andreea Oana pentru realizarea ilustraiilor. Mulumim totodat Irinei Duran pentru consultan de specialitate.

~ A Tough Decision ~ OBIECTIVE - Cunotine generale, n limba englez, despre contabilitate; - Introducerea i nsuirea unor definiii, termeni i structuri lexicale specifice domeniului. REZUMAT n cadrul acestui lecii introductive sunt prezentate cteva definiii de baz i cei mai uzuali termeni de specialitate pentru nsuirea terminologiei contabile n limba englez. 1.1. READING & SPEAKING A long, long time ago, in a faraway village, there lived a wealthy old man. The old man hadnt been wealthy all of his life. He started off with a little house, two acres of land, three cows and a donkey. His familys background had always been farming. They had known more prosperous times before, as his great grandfather had been one of the richest and most respected farmers of the region, but then the war came and his grandfather lost everything. So his father had to start from scratch and it was only by hard work that he managed to leave him as little as he did. But what he inherited from his father was of greater value than any material goods: it was his strong will, his ambition and determination. These qualities, along with good business skills, enabled him to achieve the former reputation of his great grandfather and even greater wealth, as he had become the first owner of a milk factory in his village. As he got old, the old man decided to pass his business over to one of his two sons. But which one of them? He had prepared both his sons for a future business career. He always took them along to the factory and explained everything they needed to know about the way things were done, and he had sent them both abroad to a business school where they specialized in management. Both of them were intelligent, well prepared and competent. So the old man found himself in a very difficult position. How could he possibly choose? He spent very much time giving this matter a lot of thought and finally he came up with a decision: he thought of a test for his two sons. So that night over dinner, he told them: This is my test for you: each of you will have to take a course in a field that you consider vital for running a business. At the end of your courses you will come to me and explain why you think that the field you have chosen will enable you to be the best manager for the business. 4

Time went by and the two sons finished their courses. The old man asked his older son: What course have you chosen and why? Well, Ive chosen a course in the field of business legislation because I think that for a good manager it is vital to know all the laws and regulations of the business environment. And then he asked his younger son the same question. Ive chosen a course in the field of accounting because accounting is the system a company uses to measure its financial performance by noting and classifying all the transactions (sales, purchases, assets, liabilities). It helps to evaluate a companys past performance, present condition, and future prospects. Do you think your choice was better than your brothers? No. In fact I believe both fields are equally important. Then the old man asked his other son: What do you think? I think my brothers right.

And then a big smile showed up on the old mans face: Well my sons, I can finally rest in peace. This was my final test for you and Im proud to say you both did an excellent job. You will share this company and Im sure that by working together youll be able to continue my work and achieve even greater success in the years to come! ANSWER THE FOLLOWING QUESTIONS: 1. 2. 3. 4. 5. 6. Who was the richest person in the old mans background? What happened after the war? What did the old man inherit from his father? What business did the old man own? What was his dilemma? What test did he come up with?

7. What were the two choices of his sons? 8. What did the old man finally decide? 1.2. BASIC VOCABULARY Accounting vs. bookkeeping Bookkeeping is the process of recording accounting information for a company according to a standard set of steps. Therefore, bookkeeping is only a phase of the accounting process, namely the recording phase. And so a person who understands bookkeeping does not necessarily know accounting, but an accountant must always possess a good knowledge of bookkeeping. Financial accounting vs. managerial accounting Financial accounting provides accounting information for external users in their various decisions. Managerial accounting provides accounting information for internal users in their managerial decision-making. accounting = contabilitate bookkeeping = inerea registrelor contabile accountant = contabil chartered accountant (UK) = expert contabil certified public accountant (USA) = expert contabil financial performance = performan financiar transaction = tranzacie to sell = a vinde sale = vnzare to purchase = a achiziiona purchase = achiziie assets = active liabilities = pasive wealth = avere wealthy = bogat prosperous = prosper prosperity = prosperitate rich = bogat to inherit = a moteni inheritance = motenire heir / heiress = motenitor / motenitoare business skills = abiliti pentru afaceri owner = proprietar to own = a deine factory / plant = fabric career = carier

field = domeniu 1.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text. a. The old mans family background had always been real estate. b. The old man had become the first owner of a milk factory in his country. c. As he grew old, the old man decided that one of his two sons should inherit his business. d. The two sons were equally well prepared to take over the business. e. The old man decided to make a choice after testing their knowledge in the field of management. f. His first-born chose a course in the field of business legislation. g. His youngest son thinks that accounting is more useful for running a business than business legislation. h. The old man decided that both his sons should inherit his business. 2. Match the following words with their explanations in the column on the right: 1. career 2. heir 3. owner 4. field 5. inheritance 6. hair 7. bookkeeping 8. purchase a. make an acquisition b. area of study c. what grows on our heads d. somebody who inherits something e. profession f. someone who has the right of property over something g. what somebody receives, usually after the death of a relative h. the process of recording information in account books

3. Complete the following table: Verb to finance to inherit Owner 4. Translate into Romanian: 1. He has just employed an accountant for our corporation. 7 Adjective wealthy Prosperity Noun Finances

2. I dont know the difference between financial and managerial accounting. Could you please explain it to me? 3. You should search for all those accounting terms in a business dictionary. 4. It is obvious that they didnt learn for their accounting exam since both of them received poor grades two days ago. 5. I dont know whether I could work in this field. 5. Translate into English: 1. Care este momentul oportun pentru vnzarea pasivelor unei societi? 2. Profesia de contabil presupune exactitate, rbdare i perseveren. 3. Vnzarea reprezint principala prioritate a fiecrui productor. 4. n aceast fabric lucreaz peste 500 de angajai. 5. Avem nevoie de un expert contabil pentru soluionarea acestei situaii . 6. Make up sentences with the following words and phrases: land, to start from scratch, value, goods, reputation. 7. Work in pairs. Use your dictionaries. Find at least a synonym for: owner, field, manager, inheritance and success. 8. Practice Would you like to be an accountant? Motivate your answer.


~ An Accountants Job ~ OBIECTIVE nsuirea vocabularului englezesc legat de : - activitatea direct a unui contabil; - utilizarea expresiilor specifice legate de ntocmirea registrelor contabile. REZUMAT Aceast lecie conine un dialog legat de activitatea contabil, n care apar structuri i noiuni referitoare la registrele contabile. 2.1. READING & SPEAKING Lilly is in the seventh grade. One of her assignments for tomorrow is to talk about her parents professions. So here she is now, at the dinner table, talking to her mom: Listen, mom. Tomorrow at school I have to talk about my parents jobs. I know that dads a doctor and he cures people and I also know that you are an accountant. But what I dont know is what you actually do as an accountant. So what do you normally do at work? Well, some of my attributions are to produce financial statements, to draw up cash flow forecasts, to audit accounts of organizations, to prepare tax returns, to calculate production costs and overheads.

What does it mean to audit accounts? It means to verify their accuracy. Ok. Tell me more. To be able to produce these financial statements, I rely on the recording of transactions in account books. Recording these transactions in account books is called bookkeeping and this is a branch of accounting. 9

And what kind of account books are there? First of all, there are books of prime entry in which transactions are recorded in the order in which they are made. These can be cashbooks, daybooks or journals. Later the transactions are posted to the ledger. And what is this ledger? It is the most complete account book, showing all transactions of a company and their result. It is a book that contains all the accounts of a company using double-entry bookkeeping. But I have to tell you that nowadays most companies use computer-stored information instead of the classical ledger. Do you understand, dear? Yes, I do. But please explain to me the concept of double-entry bookkeeping. Well, according to the double-entry bookkeeping system, each transaction is entered twice. What do you mean? Well, there are two sides for each account: the left side, called the debit side, and the right side, called the credit side. And the basic rule is that the debit side and the credit side of an account should always be kept in balance. Ok mom. But how do you actually register a transaction? Well, each entry is based on vouchers. What are those? They are documents justifying a payment made and they can be invoices and receipts. Please explain. The invoice is a document stating the amount due for some goods or services supplied. It gives a description of the goods, states delivery and shipment details, terms of payment, alongside of unit price and total price. And the receipt is a confirmation of a payment made. Ok. I think youve told me quite enough. Thanks a lot, mom! ANSWER THE FOLLOWING QUESTIONS: 1. 2. 3. 4. 5. 6. 7. 8. What is Lillys assignment for tomorrow? What are some of her mothers attributions? What does it mean to audit accounts? Which are the books of prime entry? Which is the most exhaustive account book? What is each entry based on? What is an invoice? What is a receipt? 2.2. BASIC VOCABULARY The Basic Account Books books of prime entry = documente primare cash-book = registru de cas daybook = registru de gestiune


journal = jurnal ledger = cartea mare financial statements = documente financiare cash flow = flux de numerar to forecast = a previziona forecast = previziune to audit = a efectua un audit, a verifica audit = audit tax return = declaraie de impozit production costs = costuri de producie overheads = cheltuieli de regie, cheltuieli indirecte to record = a nregistra to record a transaction = a nregistra o operaiune account book = registru contabil bookkeeping = inerea registrelor branch = ramur to post = a trece dintr-un registru contabil n cartea mare voucher = document justificativ, dovada efecturii unei pli invoice = factur receipt = chitan amount = sum, total, cantitate, valoare to deliver = a livra delivery = livrare shipment = expediere, transport terms of payment = termene de plat unit price = preul pe unitate total price = preul total 2.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. Lilly is in the eleventh grade. b. Lillys mother is a doctor and her father is an accountant. c. In books of prime entry transactions are recorded in chronological order. d. The ledger isnt a book of prime entry. e. Nowadays very few companies use computer-stored information. f. According to the double-entry bookkeeping system, each transaction is entered twice. g. The left side of an account is called the credit side and the right side of it is called the debit side. h. Invoices and receipts are generally called vouchers. 2. Match the following words with their explanations in the column on the right:


1. forecast 2. production costs 3. bookkeeping 4. ledger 5. vouchers 6. unit price 7. total price 8. receipt

a. the price charged per item b. the account book that shows all the transactions of a company and their result c. documents justifying a payment made d. all the expenses made in order to manufacture something e. confirmation of a payment made f. predict g. the total amount due for all items h. recording transactions in account books

3. Complete the following table: Verb to audit to deliver 4. Translate into Romanian: 1. It would be best if they complied with the terms of payment. 2. This is the last day of delivery. You have to hurry up! 3. There is quite a difference between invoice and receipt. I thought you already knew that. 4. I need to deliver these packages to this address, but I cant find it. Do you know where it is? 5. The term bookkeeping refers to registering information in account books. 5. Translate into English: 1. Costurile de expediere pentru acest bagaj sunt de 50 Ron. 2. Toate operaiunile sunt nregistrate n registrele contabile. 3. Acesta este preul total al mrfurilor care vor fi fi exportate. 4. Am nevoie de toate detaliile legate de transportul acestor bunuri. 5. Bilanul contabil se depune numai dup ce a fost certificat de o firm de audit. 6. Write sentences with 5 words in the vocabulary section. 7. Work in pairs. Use your dictionaries. Find at least a synonym for: voucher, financial, amount, branch, and transaction. 8. Practice Write down several words related to the word job. Make up short sentences with them. Noun production



~ Forest Business ~ OBIECTIVE Cunoaterea terminologiei specifice n limba englez referitoare la: - ecuaia fundamental a patrimoniului; - relaia manager-firm-banc. REZUMAT Lecia urmrete nsuirea vocabularului englezesc legat de nfiinarea unei firme, metodele de procurare a fondurilor necesare (economii, mprumuturi) i relaia manager-firm-banc. 3.1. READING & SPEAKING

One day, the rabbit decides to start his own business. Hes got the idea, hes got some savings, but hes got no clue about the way to get things going. So he goes to the owl, the forest accountant and financial consultant. What brings you by on such a fine day, rabbit? Well, Ive been thinking about opening a fitness center and I dont know were to start and what to do. Youve come to the right person, rabbit. How much money do you think you need? I think I might need about 100,000. Have you got any money? Yes, but only 40,000.


Well, first youll have to go to the bear, the forest banker, and make a loan for the other 60,000. Then you must think about the headquarters. Do you have your own location? No, Im afraid Ill have to rent it. You know, I thought of that old warehouse that the snake inherited from his late uncle. He really doesnt use it. Ill talk to him about it. You do that. Have you thought about hiring some personnel? Well, not for the moment. Ill try to do everything myself until I get things going. Oh, and one more thing: you need to go to the lion, the forest mayor, and take care of the necessary papers and authorizations. And you should also see the fox, the forest lawyer, for some legal advice about finding and registering your company name. Ok. Ill do all that. But can you please explain to me how such a business works, from an accountants point of view? Well, let me see First of all, your resources are considered the assets of the company. Now, we know that youre not fully financing your business. Your share of the business is called shareholders equity, while all that the company owes (the loan from the bear, the rent to the snake etc.) are considered the liabilities of the company. Is it clear so far? Crystal clear. Ok. Now, the assets of a company are divided in two categories: current assets and fixed assets. Current assets are those that can be easily converted into cash in one years time, like liquid assets, funds readily available deposited in current accounts, treasury bills, marketable securities, certificates of deposit, accounts receivable etc. Fixed assets include tangible assets used in the operating cycle of the business, such as buildings, land etc. We could also include here some intangible assets that cannot be easily turned into cash, like patents, copyrights etc. As for liabilities, as I said before, thats what the company owes to people / corporations outside the entity, such as the companys obligations to supply money, goods or services to other parties. Liabilities can also be divided in two broad categories: current liabilities and long-term liabilities. Current liabilities are those that must be paid within one year, such as accounts payable, taxation payable etc. Long-term liabilities are those that must be paid at some distant time, like long-term borrowings, mortgages etc. Owl, you lost me. Ill just go do some of the tings you told me and come back later for further explanations. Well, good luck! ANSWER THE FOLLOWING QUESTIONS: 1. What is the rabbits idea? 2. Who does he turn to for advice? 3. How much money has the rabbit got and how will he get the remaining amount? 4. What will he do about the headquarters? 5. What are current assets?


6. What are fixed assets? 7. What are current liabilities? 8. What are long-term liabilities? 3.2. BASIC VOCABULARY The Basic Accounting Equation Ecuaia fundamental a patrimoniului ASSETS = OWNERS EQUITY + LIABILITIES BUNURI ECONOMICE = CAPITALURI PROPRII + DATORII savings = economii to save money = a economisi bani financial consultant = consultant financiar to finance = a finana bank = banc banker = bancher headquarters = sediul unei societi to rent = a nchiria rent = chirie warehouse = deposit personnel / staff = personalul angajat mayor = primar town hall / city hall = primrie papers = acte / documente to authorize = a autoriza authorization = autorizaie authorized = autorizat shareholders equity = capitaluri proprii assets = active current assets = active circulante fixed assets = active imobilizate liquid assets = lichiditi tangible assets = active corporale intangible assets = active necorporale current account = cont curent to deposit money into an account = a depune bani ntr-un cont to withdraw money from an account = a retrage bani dintr-un cont to make a withdrawal = a face o retragere treasury bill = bon de tezaur securities = titluri de valoare certificate of deposit = certificate de depozit accounts receivable = contruri debitoare accounts payable = conturi creditoare patent = brevet copyright = drept de autor


entity = entitate operating cycle = ciclul de exploatare to supply = a furniza supplier = furnizor liabilities = datorii / obligaii ctre teri current liabilities = datorii pe termen scurt long-term liabilities = datorii pe termen lung taxation payable = impozite de pltit long-term borrowings = mprumuturi pe termen lung mortgage = ipotec to own = a deine to owe = a datora 3.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. The rabbit doesnt have any savings, so he goes to the forest accountant and financial consultant (the owl) to lend him some money. b. The rabbit needs 100,000 euros to start his fitness center. c. Hes only got 60,000 euros. d. Authorizations can be obtained from the lion, the forest mayor. e. In accounting, the resources of a company are called assets. f. Fixed assets can be easily converted into cash. g. Tangible assets are part of fixed assets. h. Current liabilities must be paid in a years time. 2. Match the following words with their explanations in the column on the right: 1. personnel 2. assets 3. liabilities 4. accounts receivable 5. accounts payable 6. papers 7. make a withdrawal 8. liquid assets 3. Complete the following table:
Verb to save Noun rent authorization patent to supply to pay

a. documents b. take money from an account c. everything a company owns d. everything a company owes e. funds readily available f. money expected to arrive g. staff h. money to be paid


4. Translate into Romanian: 1. Her son told me he would like to become a successful banker when he grows up. 2. I should be able to save some money this month. 3. Jane needs to seek the advice of a financial consultant in this matter. 4. Have they gone to the bank yet? 5. The rent for this apartment is too high for our family. We cant afford to stay in this building. 5. Translate into English: 1. Dosarul rou, cel cu documente, era ieri aici pe birou. Acum nu l mai gsesc. L-ai luat tu? 2. n acest depozit este foarte mult marf. n curnd va trebui s nchiriem un alt spaiu de depozitare. 3. Tatl meu mi-a spus s nu mai fac un alt mprumut la banc deoarece am deja multe datorii. 4. Poi s retragi o sum considerabil din contul tu, ns data viitoare cnd vei avea nevoie de bani, va trebui s gseti o alt soluie. 5. Familia lor deine 50 de ha de pmnt, trei case n afara oraului i dou apartamente. 6. Make up sentences with at least 5 words in the vocabulary section. 7. Practice (I) You are at a bank in your town. Write a short dialogue in which you talk to the credit officer. Ask for a loan. 8. Practice (II) Do you think it is safe to keep money in a bank? Motivate your answer.


~ A Little Entrepreneur ~ OBIECTIVE nsuirea terminologiei englezeti care face referire la: - tipurile de societi comerciale; - evidenierea asemnrilor i deosebirilor dintre acestea; - recunoaterea abrevierilor n limba englez a tipurilor de societi comerciale. REZUMAT Aceast lecie cuprinde vocabularul folosit la prezentarea tipurilor de societi comerciale cu terminologia necesar, n limba englez. 4.1. READING & SPEAKING Once upon a time there was a little boy named Peter. Peter was just an ordinary kid, but unlike any ordinary kids, he had an extraordinary dream: he dreamed of having his own business. Peter, like all normal kids, had a normal life: he went to school every day, he did his homework, and then he went outside to play with his friends. He really loved to play with the little boys and girls in his street. They played all the games that kids their age normally do. But from time to time, when they got bored of playing the same old games, the children would go to the movies or the circus. Those were unhappy times for Peter because he came from a poor family and his parents could merely provide food and shelter and they could not afford to give him any money. So whenever his friends went to the movies or the circus, Peter went home where, all by himself in his room, he dreamed And strangely, he kept dreaming about figures. He really loved mathematics and everything about numbers. And so he thought: Why do I keep dreaming about figures? It must be because Id like to have my own little business. But Im just a kid. What do I know about business? And then he thought about everything he had heard the grownups talk about when it came to business: loans from the bank, corporations, stockholders, employees, marketing strategies, sales, profit, income, turnover Nothing made sense. He was too young to understand these things. There must be some easier way for me to have my business And then one day, he had an idea: he was going to make and sell toys. His father was a carpenter and Peter helped him from time to time. He thought of all the little pieces of wood that were left after a door or a window or a table was made, and which were only used as firewood. So every time he went to help his father, he hid one or two little pieces of wood 18

behind an old bench in the workshop. And every night, after his family went to sleep, he went back into the workshop and practiced.

A month went by and the other kids were wondering what was going on with Peter because he didnt go out to play anymore. But that was Peters secret: he spent every afternoon in his room drawing sketches for his toys and a few hours every night making them in his fathers workshop. But at the end of that month, he finally had his first series of wooden toys. So he took a big box, put them all inside, and went outside. He gathered all his friends around the box and opened it. It was a magical moment: his friends were so surprised that they couldnt breathe. Time went by and Peter made more and more beautiful and interesting toys. His friends bought them and played with them and never got bored again. Peter became a prosperous little businessman. Now all he wanted was to do something he couldnt do before: - Listen kids! Can you stop playing with my toys just one afternoon? Id really like to go to the movies! ANSWER THE FOLLOWING QUESTIONS: 1. What was Peters extraordinary dream? 2. Why couldnt Peter go to the movies or the circus with his friends? 3. What were the things about business that he had heard grownups talk about? 4. What was his idea? 5. What was his fathers job? 6. Where did he hide the little pieces of wood? 7. How long did it take him to produce his first series of wooden toys? 8. What was the only thing left for him to do once he had enough money?



Main types of business organizations SOLE PROPRIETORSHIP



corporation = corporaie partnership = parteneriat sole proprietorship = societate cu asociat unic Common abbreviations used in English company names: plc = public limited company = S.A. Ltd = limited liability = S.R.L. Inc. (U.S.A.) = incorporated = corporaie constituit legal business = afacere, afaceri businessman = om de afaceri businesswoman = femeie de afaceri business people = oameni de afaceri business partner = partener de afaceri figures = cifre loan = mprumut shareholders / stockholders = acionari shares = aciuni employer = angajator employee = angajat marketing strategy = strategie de marketing to sell = a vinde sale = vnzare to purchase = a achiziiona purchase = achiziie profit = profit income = venit turnover = cifr de afaceri 4.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. Peter was always busy doing homework and he never went out to play. b. Peters parents didnt give him any money even if they were wealthy.


c. Peters dreams were always related to numbers. d. One day, Peter came up with the idea to make and sell toys. e. Peter hid the little pieces of wood behind a closet in his fathers workshop. f. During a whole month, Peter made toys every night. g. The kids soon got bored of playing with Peters toys. h. Peter had only one thing left to do: he wanted to go to the movies. 2. Match the following words with their explanations in the column on the right: 1. business partner 2. figures 3. shareholders 4. employer 5. employee 6. profit 7. income 8. plc a. revenues minus expenses b. person that hires people c. person being hired d. numbers e. business associate f. people that hold shares in a company g. public limited company h. money resulted from a job, a business etc.

3. Complete the following table: Verb to sell to employ 4. Translate into Romanian: 1. We really need to purchase new pieces of furniture for the office downtown. 2. The head of the company has appointed a new marketing chief. 3. The shares have increased almost 15% in value. 4. They have to come up with an innovative marketing strategy for this project. 5. Their partnership seems to be quite productive up to the present. 6. This year figures show a 10% increase on last year. 5. Translate into English: 1. Cifra de afaceri a societii noastre s-a dublat n ultimii cinci ani. 2. n momentul de fa, este din ce n ce mai greu s obii un mprumut de la banc. 3. Acesta este partenerul nostru de afaceri din strintate. 4. n cadrul firmei noastre exist o strns legtur profesional ntre angajator i angajai. 5. n ultima perioad n Romnia veniturile au crescut, dar nu i puterea de cumprare. Noun purchase


6. Make up sentences with at least 5 words in the vocabulary section. 7. Practice (I) What would be some of the skills needed in order to become a successful businessman? Write at least 5 lines. 8. Practice (II) Write a short dialogue in which you try to convince your colleague and friend that he/she is the right person to apply for the department head position in the company you work for.


~ The Kings Shoes Factory ~ OBIECTIVE - Introducerea, nsuirea i utilizarea termenilor englezeti referitori la cont i structura sa (debit i credit), precum i a celor legai de diferitele departamente din cadrul unei fabrici. REZUMAT Lecia cuprinde o scurt descriere a activitii curente din cadrul unei fabrici, prezentnd succinct responsabilitile aferente diferitelor departamente. 5.1. READING & SPEAKING Once upon a time, there was a faraway kingdom. It was the kingdom of a very wise and kind king. Yes, our king was indeed very kind to his subjects, but only on one condition: no one was allowed to be lazy. They could all rest on Sundays and holidays, but during workdays everybody needed to be as efficient as possible. According to the wise king and his advisors, efficiency was the result of the process of setting a goal, carefully planning all activities and than taking all the right steps in order to achieve that goal.

Not long ago, the king had ordered the opening of a new shoes factory, as he decided that no one in his kingdom should walk barefoot, even if shoes had always been the privilege of the court and the nobles. Three months had gone by since the opening and the king decided to pay them a visit to see how things were going. While visiting, he asked all department heads for details regarding their departments activity: King: What do we have here?


Production department head: This is the warehouse where we keep the raw material for our shoes. King: I see. And where is it that you actually make them? Production department head: Follow me, please. Here we are. This is where we make the endproducts. We have 200 workers so far and we are currently producing 50 pairs a day. King: But why do I see only mens shoes? On my way here I stopped by the store and there were also womens shoes! Production department head: You see, Your Majesty, we are importing those from the neighboring kingdom because we havent been able to produce them so far. King: What am I hearing? Why havent you? Production department head: We dont have the know-how. King: You dont have the know-how?!? Wheres the research department head? Research department head: Im here, Your Majesty. King: You have one week to come up with a solution or your head is going to fall! I hope this is the last time Im hearing about importing anything from our neighbors! We should export to them! Research department head: I understand, Your Majesty. Thank you for giving me another opportunity to make things right. King: Now get out of my face! And wheres the marketing department head and the chief accountant? Marketing department head: Im here, Your Majesty. King: What can you tell me about your departments activity? Marketing department head: Everything is going according to the plan. Our marketing strategy has proved to be successful and sales are beyond all expectations. King: Thats really good to hear. And you? Are you working efficiently? Chief accountant: Yes, Your Majesty. We have registered everything in the appropriate accounts, from raw material to the endproduct. King: And how do you actually register something into an account? Chief accountant: You see, Your Majesty, there are basically two sides of an account: the debit side and the credit side. There are inputs and outputs King: Say no more! Im feeling a bit tired. I want all of you to do your job the best way you can. Ill be back in a week and I really want to find everything right. Thats an order! And now, get back to work! All of you! ANSWER THE FOLLOWING QUESTIONS: 1. 2. 3. 4. What was the wise kings mandatory requirement? What kind of factory was opened on the kings orders? Why? What did they keep in the warehouse? How many workers did the factory have and how much did they produce daily? 5. Why did the king only see mens shoes? 6. Who did the king put in charge of finding a solution?


7. What has the chief accountant registered in the appropriate accounts? 8. What are the two sides of an account? 5.2. BASIC VOCABULARY The Account. Debit and Credit Each account accumulates information about both increases and decreases from various business transactions. The basic format of an account is called a T-account because it looks like the letter T. The left side of the account is called the debit side and the right one is called the credit side. The left (debit) and the right (credit) side of each account are used for recording the monetary information from transactions.

efficient = eficient efficiency = eficien goal = scop, el target = int, scop target group = grup int department = departament department head = ef de departament raw material = materie prim endproduct = produs finit worker = muncitor import = import to import = a importa imports = mrfuri de import, importuri import duty = tax de import import license = licen / autorizaie de import importer = importator export = export to export = a exporta exports = marf de export, exporturi export license = licen de export exporter = exportator marketing strategy = strategie de marketing research = cercetare chief accountant = contabil ef account = cont debit = debit debit account = cont debitor 25

debit amount = sum debitoare debit balance = sold debitor credit = credit credit account = cont creditor credit balance = sold creditor input = intrare output = ieire input-output instruction = instruciune de intrare-ieire input-output routine = rutin de intrare-ieire input-output overlap = simultaneitate de intrare-ieire 5.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. The king made his subjects work on Sundays and holidays. b. A shoes factory was opened on the kings orders because he didnt want anyone in his kingdom to walk barefoot. c. After two months the king went to visit the factory. d. The raw material was kept in the factorys warehouse. e. A number of fifty workers produced two hundred pairs of shoes a day. f. The factory exported womens shoes to the neighboring kingdom. g. In the marketing department things were going great. h. The king wanted some details from the chief accountant about registering information into an account. 2. Match the following words with their explanations in the column on the right: 1. goal 2. raw material 3. end product 4. import duty 5. import license 6. export license 7. chief accountant 8. efficient a. authorization to sell products abroad b. head of the accounting department c. the final item that will be sold on the market d. authorization to buy products from abroad e. productive f. target g. what we use in order to manufacture a product h. amount of money paid when someone buys products from abroad

3. Complete the following table:

Noun Adjective efficient exported to import Verb to produce


4. Translate into Romanian: 1. How much money have you got in your bank account? 2. This marketing strategy doesnt seem to work very well at the moment. 3. Those workers have to wear their uniforms during working hours. 4. I need to speak to your department head immediately. It is an urgent matter. 5. It is very important that you find the most efficient way to work this out. 5. Translate into English: 1. Este esenial s ne ndeplinim scopurile pentru a avea o carier de succes. 2. Firma noastr este unic importator al acestei mrci. 3. Marfa de export se afl n cel mai mare depozit al companiei, care este situat n afara oraului. 4. Contabilul ef de la fabrica prinilor mei i-a luat o sptmn de concediu medical. 5. Tu eti cel care s-a ocupat de noul proiect de cercetare? Ai fcut o treab excelent. 6. Make up sentences with at least 5 words in the vocabulary section. 7.Practice (I) You are offered the opportunity to take charge of the department in the place you work for two weeks. Would you accept/decline the proposal? Motivate your answer. 8.Practice (II) Describe a regular day at your job. Write at least 10 lines.



~ Expanding ~

OBIECTIVE - nsuirea cuvintelor i expresiilor folosite la ntocmirea bilanului contabil n limba englez. REZUMAT Aceast lecie include cuvintele i expresiile uzuale pe care le conine un bilan contabil cu o structur specific. 6.1. READING & SPEAKING Bill Grady is on his way to the bank. Hes had an advertising and PR agency for over a year now and since things seem to be working just fine, he is thinking about expanding. About two months ago, while he was working on an important politicians campaign, he came across a very talented young man, Jack Crosby. Despite his young age, Bill found Crosby extremely experienced, very competent and charismatic at the same time, and charisma is one of the most important qualities required by this kind of work. So he decided to give this young man a chance and offer him a job. Unfortunately, there werent any open positions left at his agency. Thats when it hit him: it was about time to expand! So he decided to open a second agency and now hes going to the bank hoping to get a credit. After a couple of hours in the crazy afternoon traffic, he finally arrived at the bank and now hes talking to the loan officer: Loan officer: So tell me Mr. Grady, why are you interested in making a loan? Bill: I own an advertising and PR agency that is going really well and thats why Id like to open a second one. Loan officer: I see. Well, you must be aware that first of all we need to check your credit-worthiness. Bill: I understand. What would you like me to do? Loan officer: You need to bring us a balance sheet and a trial balance for examination. Bill: Im afraid I havent got any of them on me, but Ill call my accountant. Loan officer: All right, sir. Would you like me to explain the terms and conditions of the credit, interest rate and everything else right now?


Bill: Thank you, but that wont be necessary for the time being. Ill get in touch with my accountant and well discuss everything when I come back. Loan officer: Very well, sir. Ill be expecting you. Have a nice day! Bill: Thank you! You too! ANSWER THE FOLLOWING QUESTIONS: 1. 2. 3. 4. 5. 6. 7. 8. Where is Bill Grady going? What business does he own? What does he want to do? Who is Jack Crosby? Who does Bill talk to at the bank? What does the bank need to check? What does Bill need to bring back to the bank? Who will he contact to take care of the matter? 6.2. BASIC VOCABULARY The Balance Sheet ASSETS fixed assets - intangible assets - tangible assets - shares/ stocks held in other companies current assets - stock - debts / debits receivable - liquid assets LIABILITIES owners equity - share capital - share premiums Bilanul contabil ACTIV active imobilizate - imobilizri necorporale - imobilizri corporale - imobilizri financiare (aciuni deinute la alte societi) active circulante - stocuri - mijloace circulante care genereaz creane - mijloace bneti PASIV capitaluri proprii - capital social / capital n aciuni - primele legate de capital 29

- fond de rezerv - reserve / surplus fund - rezerve din reevaluare - revaluation funds - provizioane reglementate - provisions according to rules and regulations - provizioane pentru riscuri i - provisions for risk and cheltuieli expenditure - rezultatul activitii (exerciiului) - result dues or liabilities - financial / long and mediumterm liabilities - long and medium-term credits datorii sau obligaii - datorii pe termen lung i mediu

- credite bancare pe termen lung i mediu - current / short-term liabilities - datorii pe termen scurt - short-term credits - credite bancare pe termen scurt - trade credit (to suppliers) - datorii comerciale (ctre - salaries (to employees) - social liabilities (social security furnizori) - datorii salariale (ctre salariai) payments) - datorii sociale (plata - tax liabilities (to the state asigurrilor sociale) budget) - datorii fiscale (ctre bugetul - dividends statului) - datorii fa de asociai / dividende advertising = publicitate PR = public relations = relaii publice agency = agenie to expand = a se extinde campaign = campanie open position = post liber credit = credit loan officer = ofier de credite credit-worthiness = solvabilitate balance sheet = bilan contabil trial balance = balan contabil interest = dobnd interest rate = rata dobnzii 6.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. Bill Grady owns a PR and advertising agency. b. Bill Grady met Jack Crosby at a cocktail. c. Jack lacks charisma.


d. Bill Grady wants to hire Jack, but there are no open positions in his agency. e. Mr. Grady is on his way to the bank to try to obtain a credit. f. At the bank he doesnt find a loan officer to talk to. g. The loan officer tells Mr. Grady to bring a balance sheet and a trial balance. h. Mr. Grady needs a financial consultant in order to obtain these documents. 2. Match the following words with their explanations in the column on the right: 1. intangible assets 2. share capital 3. liquid assets 4. tangible assets 5. reserve / surplus fund 6. current liabilities 7. share premiums 8. fixed assets 3. Complete the following table: Verb to advertise to discuss 4. Translate into Romanian: 1. He would very much enjoy working in advertising. 2. My husband works as a PR manager. I think this is the most suitable job for him, as he is extremely talkative and versatile. 3. I called at the bank yesterday in order to set up a meeting with the loan officer. 4. I need to go to a travel agency today because Im interested in their offers for a trip to Scotland. 5. Are there any open positions in your department? 5. Translate into English: 1. Care este dobnda pentru un depozit la termen? 2. Este momentul oportun ca firma noastr s se extind. 3. Pentru lansarea noului produs, va trebui s apeleze la serviciile unei agenii de publicitate. 4. Familia lui Paul are deja trei credite la banc. 5. Bilanul contabil se depune la Administraia Finanelor Publice. Noun expansion explanation a. fond de rezerv b. datorii pe termen scurt c. primele legate de capital d. imobilizri necorporale e. imobilizri corporale f. capital social g. active imobilizate h. mijloace bneti


6. Make up sentences with the following words and phrases: campaign, to expand, interest, quality, charisma. 7. Work in pairs. Use your dictionaries. Find at least a synonym for: competent, necessary, politician, work, and chance. 8. Practice Do you think it is hard to work in PR? Motivate your answer.



~ Money for nothing ~ OBIECTIVE Introducerea terminologiei englezeti n legtur cu: - venit, impozit, taxe; - alte surse de venit. REZUMAT Lecia are n vedere nsuirea vocabularului englezesc referitor la diferitele surse de venit. 7.1. READING & SPEAKING Little Jane is in the living room, bothering her father again. She is 13 and we all know thats the age of endless questions Now she is wondering about what she could do as a grown-up in terms of work and income.

Daddy, I think Id like to be like grandpa when I grow up. What do you mean? Well, he stays home all day, reads his newspaper, takes me to the park or the playground from time to time, and yet he gets paid every month. Your grandfather used to work too, you know. But when he got old he retired. And when people retire they receive a pension. But cant we have a pension if we dont work? Cause Pauls mother also has a pension and she isnt old and I dont think shes ever had a job?!


Well honey, Pauls mother is ill and thats why she cant work. People with disabilities also receive pensions, but a healthy person needs to work. How about uncle Tom? He doesnt work but hes got a lot of money! Well, uncle Tom is an inventor. He patented two of his inventions and now he lives on royalties. You mean, hes like a king or something? And what is that, patented? When you patent an invention, you receive a certificate from the authorities, which acknowledges you as the author of that invention. Nobody else can use your invention unless you allow them to and you get paid whenever your invention is used. Thats what we call royalty. And Martha, moms friend? She also doesnt work but she has a big house and a super car. Martha was just lucky. She comes from a wealthy family. She inherited a fortune. But a normal, healthy adult has to work for a salary. What is a salary? Its money people receive every month for the work they do. Do you receive one? No, I dont. Mommy does. But dont you earn any money? Yes, I do. But Im a lawyer and what I receive in exchange for my professional services is called a fee. Well, I hope youll get really rich so that one day I can inherit a fortune just like Martha. Well see about that. But meanwhile youll need to do all of your homework, study hard and choose a profession, you know, just in case we dont become as wealthy as Marthas family. ANSWER THE FOLLOWING QUESTIONS: 1. 2. 3. 4. 5. 6. 7. 8. Who does little Jane want to be like when she grows up? Why? What happens to people when they get old and dont work anymore? Why does Pauls mother receive a pension? How does Uncle Tom earn his money? How about Martha? What do people that have a job receive every month? How do we call the money paid to a lawyer for his services? What does little Jane wish for? 7.2. BASIC VOCABULARY INCOME income = venit per capita income = venit pe cap de locuitor guaranteed minimum income = venitul minim garantat income adjusted for inflation = venit ajustat n funcie de inflaie income statement (USA) / profit and loss account (UK) = contul de profit i pierdere income tax = impozit pe venit


income tax allowance = deducere / reducere la impozitul pe venit re-payment of income tax = rambursarea impozitului pe venit to work = a munci work = munc to retire = a se pensiona retirement = pensionare a retired person / pensioner = persoan aflat la pensie, pensionar pension = pensie to patent = a patenta / a breveta patent = brevet patentee = titularul brevetului royalty = drepturi de autor job = slujb to earn / make money = a ctiga bani to pay = a plti pay / payment = plat pay-day = ziua de salariu payroll = state de plat / salarii salary = salariu wages = pli efectuate sptmnal (cteodat zilnic) i de obicei cash, calculate pe or, pe zi sau n funcie de cantitatea de munc depus; se adreseaz de regul muncitorilor fee = onorariu; reprezint venitul obinut de avocai, medici etc. 7.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. Little Jane would like to be like her grandfather when she grows up because he has a good job. b. People who retire and people with disabilities receive a pension. c. Tim, Janes uncle, is an inventor. d. Martha is the heiress of a wealthy family. e. A salary is money a person receives for his/her work at the end of each month. f. Lawyers and doctors receive a fee in exchange of their professional services. g. Little Jane would like her parents to make a fortune for her to inherit. h. Janes father tells her to go and do her homework for the following day.

2. Match the following words with their explanations in the column on the right:


1. income 2. job 3. fee 4. pay-day 5. to pay 6. a retired person 7. patentee 8. pension

a. to give money for a product / service b. the date of the month when people receive their salaries c. monthly payment to people after ending their professional activity d. earned money e. an older person that doesnt work anymore f. owner of a patent g. money a lawyer receives in exchange for his professional services h. profession

3. Complete the following table: Verb to work to retire to pay 4.Translate into Romanian: 1. Marias husband works 8 hours a day during weekdays and sometimes 4 hours during the weekends. 2. Her father retired when he turned 65. He worked 40 years in a big law firm in Bucharest. 3. I dont think Jerry likes his job very much. Every day he gets up at 5 in the morning; when he comes home in the evening, he looks absolutely exhausted. 4. Nowadays its very hard to earn a lot of money. 5. How much did you get paid for your work? 5.Translate into English: 1. Bunicul meu primete o pensie n valoare de 900 de lei pe lun. 2. Vom organiza o petrecere de pensionare pentru directorul nostru. 3. Majoritatea pensionarilor din ara noastr consider c ar trebui s primeasc mai muli bani. 4. Am obinut o mrire de salariu de 50%. 5. Este evident c tu eti urmtorul care va fi promovat n acest departament. 6. Make up sentences with the following words and phrases: income, to make money, payday, royalty and fee. Noun patent


7. Work in pairs. Use your dictionaries. Find at least a synonym for: invention, fortune, professional, job, patent. 8. Practice Talk about various professions (advantages disadvantages) in the business field.



~ An Interesting Lesson ~ OBIECTIVE - Fixarea nelesului termenilor: tax, impozit, contribuie, n limba englez; - nsuirea terminologiei englezeti referitoare la diferite tipuri de taxe i impozite. REZUMAT Aceast lecie i propune studierea vocabularului englezesc legat de diferitele tipuri de taxe i impozite. 8.1. READING & SPEAKING This morning, a teacher from a British school has brought a guest to her class to discuss taxes. Teacher: Good morning children! Class: Good morning teacher! Teacher: Today we have a special guest among us. This is Mr. Paul Seymour, Jacks father, and he is here to tell us about taxes. Class: Good morning Mr. Seymour! Mr. Seymour: Good morning kids! As Mrs. Jones said, I am here to talk to you about taxes. I know that you are still young and you may not yet be acquainted with the taxation system, but if you ask any of your parents about it, they will all tell you that they have to pay taxes. And sometimes they even might consider taxes a burden. Jim: Then why do they have to pay them? Mr. Seymour: Well, thats just the way things work and Ill explain why. You see, the purpose of a taxation system is to collect revenue for the state budget. Alice: But why should there be a state budget? Mr. Seymour: The state budget is used by the government to provide citizens certain services. For instance, state schools and hospitals are working on money provided by the state budget. And then there are roads and public areas also built on money from the state budget. Alice: I see. Paul: So people pay taxes, but they actually benefit from that money. Mr. Seymour: Exactly. Thats how the system works. Sarah: But how does the state actually collect the money? Mr. Seymour: Well, here in the U.K. each adult person has the obligation to prepare a personal tax return of his income, no matter what source it comes from: salary, dividends, return on investments etc. Robby: What are dividends?


Mr. Seymour: You see, if a company makes a profit, it has to pay the people who own shares in that company, called shareholders. And dividends are what we call these payments to shareholders. Jack: So what happens to those returns? Mr. Seymour: They are submitted to the tax authorities and they establish the income tax to be paid. Sally: My father owns a company. So what about companies? Do they pay taxes? Mr. Seymour: Of course they do. Here in the U.K. they pay what we call a corporation tax. Will: So thats all? Are there any other kinds of taxes? Mr. Seymour: Yes, there are. We have, for instance, the value added tax or the excise duty. Will: And what are those? Mr. Seymour: The value added tax is paid when you buy goods or services, while the excise duty is paid on the purchase of tobacco or alcohol. Robby: What if people dont declare their income and just dont pay taxes? Mr. Seymour: That is called tax evasion and is punished by the law. There are, however, countries where taxation is less severe, called tax havens. Thats why sometimes people with high incomes, such as property tycoons, famous artists or sportsmen choose to settle there. Teacher: Im sorry to interrupt this interesting discussion, but the class is almost over. So lets thank Mr. Seymour for this valuable lesson. Class: Thank you, Mr. Seymour. Mr. Seymour: It was my pleasure. And if there are any questions left, Id be happy to come back another day.

ANSWER THE FOLLOWING QUESTIONS: 1. 2. 3. 4. 5. Why has the teacher brought a guest? Why do people pay taxes? What does each person have the obligation to prepare? What do companies pay? When do we pay the value added tax?


6. When do we pay the excise duty? 7. What happens when people dont pay taxes? 8. What do we call the places where taxation is less severe? 8.2. BASIC VOCABULARY Taxes tax = impozit, tax, contribuie to tax = a taxa, a impozita taxation = impozitare taxable = impozabil income tax = impozit pe venit profits tax = impozit pe profit taxes and dues = impozite i taxe tax in kind = impozit n natur tax on capital = impozit pe capital tax on turnover / turnover tax = impozit pe cifra de afaceri road tax = tax de drumuri corporation tax (U.K) = impozit corporativ / pe corporaii tax collector = perceptor tax exemption = scutire de impozite tax free / exempt = scutit de impozite / de taxe vamale tax haven = paradis fiscal tax liabilities = obligaii fiscale tax payer = contribuabil tax year = an fiscal tax holiday = vacan fiscal tax avoidance = evitare a impozitelor (licit) tax evasion = evaziune fiscal personal tax return = declaraie personal de impozit land tax = impozit funciar direct tax / taxation = impozit direct indirect tax / taxation = impozit indirect dividend = dividend dividend tax = impozit pe dividende capital gains tax = impozit pe veniturile realizate din capital inheritance tax = tax pe motenire value added tax (VAT) = taxa pe valoare adugat excise duty = acciz customs duty = impozit vamal additional tax = impozit suplimentar social security tax = impozit de asigurri sociale back duty = impozit restant current taxation = impozitare curent taxable base / tax base = baz de impozitare taxation brackets = gril de impozitare tax rebate = rambursare a unei pri a impozitului achitat


8.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. Mr. Paul Seymour came to talk to the children about taxes. b. The state budget collects money from taxes. c. In Great Britain companies dont pay any taxes. d. Shareholders receive dividends. e. The value added tax is paid on the purchase of tobacco and alcohol. f. People who dont report their income and dont pay taxes can be accused of tax evasion. g. Tax havens are places where taxation is very high. h. Mr. Seymour is not available to come back and continue the discussion. 2. Match the following words with their explanations in the column on the right: 1. income tax 2. tax collector 3. tax in kind 4. tax payer 5. tax year 6. tax liabilities 7. customs duty 8. tax evasion 3. Complete the following table: Verb to tax to avoid to evade 4. Translate into Romanian: 1. There are certain special situations in which several people could be tax-free. 2. Her business associate had a very hectic day at the office. He arrived there at 9 oclock in the morning and he only got home by 8 oclock in the evening. 3. Do I have any additional taxes to pay? 4. Is he required reimbursing the inheritance tax? 5. Nowadays, people only talk about taxes and dues. Noun collector evasion a. impozit vamal b. obligaii fiscale c. impozit n natur d. evaziune fiscal e. impozit pe venit f. preceptor g. contribuabil h. an fiscal


5. Translate into English: 1. Insulele Cayman sunt un paradis fiscal. 2. Impozitul pe profit se pltete trimestrial. 3. TVA-ul de pltit se vireaz la buget pn in data de 25 a lunii urmtoare. 4. Accizele reprezint un impozit indirect. 5. Toi contribuabilii au obligaia de a depune declaraia personal de venit la Administraia Finanelor Publice. 6. Make up sentences with at least 5 words in the vocabulary section. 7. Work in pairs. Use your dictionaries. Find at least a synonym for: tax, social, taxable, duty, budget. 8. Practice Why do you think taxes in our country are so high? Motivate your answer.



~ Investment matters ~ OBIECTIVE - nsuirea vocabularului referitor la contul de profit i pierdere; - Cunoaterea i folosirea corect a terminologiei specifice n limba englez. REZUMAT Aceast lecie urmrete familiarizarea cu vocabularul englezesc legat de contul de profit i pierdere. 9.1. READING & SPEAKING

Mr. Grey is an American billionaire. He is a reputed magnate in the oil field with an estimated fortune of 11 billion dollars. Last year he came second in an important magazines ranking of the wealthiest people. Now he is thinking about investing some of his money in European companies. As he doesnt really know how things work on the European market, he needs the advice of a European investment analyst. So here he is now in Mr. LeBlancs office: Tell me, Mr. Grey, what kind of companies would you like to invest capital in? Well, thats what I came to you about. Im not very familiar with the European market so I really dont know what kind of investments would bring me the most significant financial return. In this case I advise you to go to an investment company. Well, could you recommend me a good one? Of course. The best one I know is Inter Safe. They are part of the wellknown Inter Safe investment trust, which has a very impressive investment portfolio. 43

Do you have a telephone number of someone I could contact from Inter Safe? Yes. This is Mrs. Schneiders card. Feel free to call her anytime. Just tell her youre calling from my part. Thank you, Mr. LeBlanc! Youre welcome! * * * Hello? Good afternoon, Mrs. Schneider. My name is Edward Gray. I come from the United States and Im willing to invest in Europe. I talked to Mr. Joseph LeBlanc about this matter. He recommended your investment company and he gave me your number. Do you think we could get together and come up with a good investment plan? Of course, Mr. Grey. Lets make an appointment. Let me check my agenda first. Lets see Im free on Tuesday from 2 to 6 pm and I think I might also be able to find a couple of hours on Friday at noon. Tuesday at 2 pm would be just fine. Thank you, Mrs. Schneider. Have a nice day! You too, Mr. Grey. See you on Tuesday! * * * So tell me, Mrs. Schneider, what is the first thing I should be looking at before deciding to invest in a company? Well, as a potential investor, you are interested in the bottom line of the companys profit and loss account because your decision to put money into the business depends on the expected return on your investment. And what is this profit and loss account actually? It is one of the schedules to a balance sheet, which provides information on the performance of a company over a specified period of time. It basically summarizes the revenues and matches them against the expenses incurred in obtaining them. And then by subtracting expenses from revenues, it shows you the profit or loss the company made. ANSWER THE FOLLOWING QUESTIONS: 1. 2. 3. 4. 5. 6. Who is Mr. Grey? How big is his fortune? What has he decided to do? Who does he turn to for advice? What is Mr. LeBlancs recommendation? Who does Mr. Grey call and why?


7. What does a profit and loss account provide? 8. How can we calculate the profit or loss a company made? 9.2. BASIC VOCABULARY The Profit and Loss Account Potential users of the information provided by the profit and loss account: - MANAGERS: If a company is making a loss, they will have to make the appropriate decisions at once to rectify the situation. - BANKS: When they are required to lend funds to a company, they need to know if that company is profitable. - POTENTIAL INVESTORS: They want to be as sure as possible that they will earn a good financial return as a result of their invested capital. The profit or loss a company made is determined as follows: PROFIT = REVENUES - EXPENSES Therefore, if revenues exceed expenses, the company is making a profit. If expenses exceed revenues, the company is making a loss. If revenues equal expenses, the company is making zero profit. to invest = a investi investor = investitor investment = investiie to invest capital = a investi / a plasa capital invested capital = capital investit invested funds = fonduri investite investment analyst = analist n domeniul investiiilor investment analysis = analiz a investiiilor investment company = companie de investiii investment trust = trust de investiii investment fund = fond de investiii investment income = venit din investiii investment account = cont de investiii investment portfolio = portofoliu de investiii investment bank = banc de investiii profit and loss account = contul de profit i pierderi schedules to a balance sheet = anexe la bilanul contabil profit = profit loss = pierdere / pierderi to incur expenses = a suporta cheltuieli to incur losses = a suferi pierderi to make a profit = a obine profit gross profit = profit brut net profit = profit net


profit earning capacity = rentabilitate profit maximization = maximizarea profitului profit sharing = repartiia profitului profits tax = impozitul pe profit income tax = impozitul pe venit bottom line = rezultat final revenues = venituri expenses = cheltuieli return on an investment = ctig de pe urma unei investiii 9.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. Mr. Grey is an American millionaire. b. Mr. Grey is now thinking about investing in Japanese companies. c. Looking for advice, Mr. Grey goes to a financial analyst. d. Inter Safe is an investment company that is part of the Inter Safe investment trust. e. Mr. LeBlanc doesnt have Mrs. Schneiders card. f. Mr. Grey makes an appointment with Mrs. Schneider for 2 a.m. on Tuesday. g. A potential investor should look first of all at the profit and loss account of a company. h. The profit and loss account basically shows whether the company made a profit or a loss. 2. Match the following words with their explanations in the column on the right: 1. invested capital 2. profit and loss account 3. net profit 4. investment portfolio 5. income tax 6. profit 7. investment trust 8. expenses a. a schedule to a balance sheet b. a group of investment companies c. revenues minus expenses d. money spent by a company in performing its economic activity e. tax paid on a companys revenues f. money placed in a business in order to make a profit g. what is left to the company after paying a profits tax on the gross profit h. list of previous successful investments


3. Complete the following table: Verb to invest to expect 4. Translate into Romanian: 1. We have to recheck our expenses. Something is not right here. 2. I think you have made an excellent investment. Great job! 3. That is an investment bank. She has nothing to do there. 4. Hurry up! Youre going to be late for your appointment with the investment analyst! 5. He is known to be the most eccentric billionaire in the world. 5. Translate into English: 1. Am uitat complet de ntlnirea pe care o aveam astzi la ora ase cu D-nul Mihiescu de la banca de investiii! 2. Aceasta este o chestiune de afaceri care nu te intereseaz deloc. 3. Ai citit articolul din Business Magazine despre cel mai prosper om de afaceri din Romnia? 4. Doamna Peterson nu este la birou momentan; tocmai a plecat la o conferin n Londra. 5. Nu tiu cum a putea s trec peste aceast criz financiar fr ajutorul tu. 6. Make up sentences with the following words and phrases: to invest, profit, loss, revenues, income tax. 7. Work in pairs. Use your dictionaries. Find at least a synonym for: capital, analysis, schedule, portfolio and magnate. 8. Practice If you were extremely wealthy, where would you invest you money? Motivate your answer. Noun advice decision



~ A Busy Day at the Office ~ OBIECTIVE - nsuirea vocabularului n limba englez specific actelor necesare n tranzaciile de afaceri; - cunoaterea documentelor necesare n vederea ncheierii acestora. REZUMAT Lecia i propune o scurt introducere n limbajul de baz referitor la necesarul de documente n afaceri. 10.1. READING & SPEAKING Mr. Blake is in his office. Hes had a very busy day so far and he is finally enjoying his cold coffee that he didnt find the time to drink in the morning. He is slowly beginning to feel less tense, so he leans back in his comfortable chair, his feet on top of the desk, when well, his boss comes in:

Boss: William, have you sent the goods ordered by IncoTrust? Mr. Blake: Yes I have, sir. Boss: And have you filled in the invoice? Mr. Blake: Yes, sir. And Ive already sent it. Boss: How many items did they order? Mr. Blake: Well, let me check. One hundred, sir. Boss: And did you offer a discount? Mr. Blake: I offered a 10 per cent discount for quick payment. Boss: So have they paid yet? Mr. Blake: No, not yet, sir. Boss: Well, when did you send the invoice? Mr. Blake: Yesterday. Boss: And how are they paying? 48

Mr. Blake: By money order, sir. And the money is expected to be transferred to our account later today. Boss: And what is the total amount on the invoice, discount included? Mr. Blake: 1,250. Boss: Very well, William. The boss is gone now so Mr. Blake is once again taking his comfortable position and he attempts to take a little sip of that cold coffee, but the boss bursts back in: Boss: William! Dont you think the total amount is a little low for one hundred items? Mr. Blake: What do you mean, sir? Boss: Well, how much did you charge per item? Mr. Blake: 12.5, sir. Boss: What were you thinking, William? Dont you know that the new price is 13? Mr. Blake: Im afraid I had no idea, sir. Boss: You had no idea?! Dont mess with my nerves, William! You must be aware of my heart problems at least Mr. Blake: Im sorry, sir. Boss: Im going out now but I want this fixed by the end of the day. No more peace and quiet for Mr. Blake How can he fix this whole mess? He is the companys most recent employee. This is his first week actually. So how could he possibly know what to do? And now his mobile is ringing Mr. Blake: Hello? Wife: Hi, dear! Its me. I just called to see how you were doing. Is everything OK? Mr. Blake: Honey, Im afraid not. Im actually in a mess right now and I have to fix it ASAP. Wife: Sorry to hear that. Whats wrong? Mr. Blake: I cant talk right now but Ill tell you all about it when I get home. Wife: Well, see you later, dear, and good luck! Mr. Blake: Thanks honey. Bye! Mr. Blake is now thinking. And hes thinking hard. What to do? What to do? Luckily, Jill, one of his colleagues, comes in: Jill: You look like crap William. Whats wrong? So Mr. Blake explained everything. And Jill well, she started laughing: Jill: Theres no problem! The boss is just messing with you because youre the new guy. So heres the simple solution: youll just send them a debit note for the extra 50. ANSWER THE FOLLOWING QUESTIONS: 1. Where is Mr. Blake? What is he doing? 2. What does his boss ask him? 3. How many items did IncoTrust order and how much is the total amount on the invoice?


4. How much did Mr. Blake charge per item and how much should he have charged? 5. What are the bosss orders? 6. Who calls him next? Why? 7. Who saves the day? 8. What is the simple solution? 10.2. BASIC VOCABULARY Business Documents PURCHASE ORDER - it is prepared by the company who wishes to buy certain goods and sent to the company that will supply them - it contains: name of the company sending the order name of the company that will supply the goods number of purchase order date full description of the goods, often together with the price quantity required signature of the person ordering the goods INVOICE - it is prepared by the company who supplies the goods - it contains: name and address of the seller name and address of the buyer date number of invoice customers order number details of the goods supplied unit cost of the goods supplied total cost of the goods supplied amount of trade discount allowed (if any) carriage charges (if applicable) terms of payment, including any cash discount allowed for quick payment STATEMENT OF ACCOUNT - it is prepared by the supplier at regular intervals (often monthly) and summarizes the transactions (in date order) that have taken place on the customers account since the last statement - it shows: the balance from the previous month (if any) money amounts of invoices (including VAT) sent out during the month amounts of money received during the month, together with cash


discount allowed to the customer the amount of credit notes, including VAT the balance owing at the end of the month CREDIT NOTE (U.K.) - it is used when a customer returns goods to a supplier - issued by the supplier - shows the amount of money to be credited to the customers account

DEBIT NOTE (U.K.) - it is the opposite of the credit note - it is used when a supplier discovers that a customer has been undercharged (either the supplier has invoiced fewer goods than were supplied, or the goods were charged at a lower price than they should have been - it is sent to the customer, showing the amount of money that will be debited to his account, added to the amount already owing for the goods) MONEY ORDER - it is issued by the customer and taken to the bank, which will transfer the stated amount to the suppliers account RECEIPT - it is a proof or confirmation of a payment made

purchase order = comand de bunuri / mrfuri invoice = factur unit cost = cost pe unitate total cost = cost total trade discount = rabat comercial cash discount = reducere oferit pentru plat rapid / n numerar carriage charges = costuri de expediere payment = plat terms of payment = termene de plat statement of account = 1. extras de cont 2. (aici) fi cont client balance = 1. balan, echilibru 2. sold, rest de plat balance due = sold debitor balance in hand = sold creditor credit note = not de credit debit note = not de debitare to issue = a emite issued = emis


to charge = a stabili / a cere un pre to undercharge = a cere un pre mai mic dect ar fi trebuit money order = ordin de plat bank transfer = virament bancar to transfer money to an account = a vira bani ntr-un cont receipt = chitan to fill in = a completa item = articol ASAP = as soon as possible = ct de curnd posibil 10.3. TESTE DE EVALUARE 1. Say whether these statements are true (T) or false (F) according to the text: a. Mr. Blakes break is interrupted by one of his colleagues. b. Mr. Blake has already sent the goods ordered by IncoTrust, but he hasnt filled in the invoice yet. c. IncoTrust ordered two hundred items. d. Mr. Blake offered a 10% discount for quick payment. e. IncoTrust will pay by money order in a couple of days. f. Mr. Blake charged 13 per item instead of 12.5. g. Mr. Blakes wife calls him and tells him to come home ASAP. h. Jill offers Mr. Blake a simple solution: to send IncoTrust a debit note. 2. Match the following words with their explanations in the column on the right: 1. purchase order 2. money order 3. receipt 4. unit cost 5. ASAP a. as soon as possible b. to charge a lower price c. money left to be paid d. details regarding payment conditions e. a document prepared by a company who wants to buy certain goods and sent to the company that will supply them f. confirmation of a payment made g. a document issued by the customer and taken to the bank, which will transfer the stated amount to the suppliers account h. the cost of one item

6. to undercharge 7. terms of payment

8. balance due

3. Complete the following table: Verb to order Noun offer 52

to know to laugh 4. Translate into Romanian: 1. You have to come at the office ASAP! The boss needs the report right away. 2. Do I really need to fill in an application? 3. The amount was transferred to that account yesterday at 10 p.m. 4. All of the items are mentioned in the purchase order on the table. Go and look for yourself! 5. We must reorganize our things. I can find anything in here! Where is the statement of account? 5. Translate into English: 1. Plata facturilor pentru achiziiile de bunuri se poate face prin ordin de plat sau cu numerar. 2. Conturile contabile pot avea solduri debitoare sau solduri creditoare. 3. Pentru depunerea unei sume de bani n caserie, se emite obligatoriu o chitan. 4. Pentru prestarea unui serviciu este obligatoriu a se emite beneficiarului factur. 5. Plata obligaiilor bugetare se face n conturile destinate fiecrei obligaii n parte. 6. Make up sentences with the following words and phrases: office, desk, goods, customers, to undercharge. 7. Work in pairs. Use your dictionaries. Find at least a synonym for: discount, payment, trade, price, document. 8. Practice (I) Would you like to have your own business? Motivate your answer. 9. Practice (II) What line of business would you like to work in? Motivate your choice of answer.


Choose the right answer: 1. Which is not a synonym for transaction: a. deal b. statement c. operation 2. Antonym of wealth: a. possessions b. poverty c. prosperity 3. Synonym for owner: a. secretary b. proprietor c. attorney 4. Factory means: a. plant b. element c. business 5. Which is not a synonym for skill: a. ability b. talent c. flaw 6. Delivery means: a. demand b. supply c. offer 7. Synonym for branch: a. division b. restriction c. election 8. Which is not a synonym for shipment: a. delivery 54

b. load c. show 9. Amount means: a. error b. evasion c. sum 10. Price means: a. cost b. part c. payer 11. Savings means: a. investments b. funds c. reserves 12. Synonym for banker: a. sponsor b. manager c. investor 13. Personnel means: a. employees b. workers c. employers 14. Which is not a synonym for headquarters: a. head office b. subsidiary c. center of operations 15. Antonym of authorization: a. permission b. approval c. interdiction 16. Strategy means: a. plan b. tactic c. approach


17. Employee means: a. worker b. member of staff c. boss 18. Which is not a synonym for loan: a. credit b. advance c. load 19. Antonym of income: a. expenditure b. revenue c. gain 20. Business means: a. trade b. bankruptcy c. commerce 21. Antonym of efficient: a. incompetent b. resourceful c. professional 22. Goal means: a. objective b. purpose c. target 23. Synonym for research: a. study b. request c. deposit 24. Department means: a. section b. unit c. subdivision


25. Synonym for product: a. occupation b. merchandise c. negotiation 26. Interest means: a. profit b. loss c. gain 27. Synonym for campaign: a. promotion b. circumstance c. distribution 28. Antonym of expansion: a. contraction b. consolidation c. confiscation 29. Position means: a. presentation b. post c. progress 30. Synonym for agency: a. house b. bank c. organization 31. Which is not a synonym for pension: a. retirement fund b. allowance c. tax 32. Salary means: a. pay b. wage c. remuneration


33. Synonym for fee: a. charge b. income c. interest 34. Work means: a. employment b. occupation c. job 35. Pensioner means: a. retired person b. worker c. employee 36. Synonym for budget: a. financial statement b. business c. corporation 37. Tycoon means: a. magnate b. business person c. industrialist 38. Synonym for tax: a. duty b. tag c. test 39. Inheritance means: a. legacy b. birthright c. heritage 40. Which is not a synonym for social: a. public b. communal c. seasonal


41. Synonym for company: a. draft b. corporation c. market 42. Portfolio means: a. collection b. range c. assortment 43. Synonym for schedule: a. agenda b. timetable c. calendar 44. Synonym for expense: a. cost b. expenditure c. disbursement 45. Which is not a synonym for capital: a. assets b. resources c. goods 46. Item means: a. article b. piece c. thing 47. Synonym for purchase: a. acquisition b. sale c. trade 48. Discount means: a. reduction b. price cut c. markdown


49. Synonym for office: a. headquarters b. place of work c. bureau 50. Money means: a. cash b. currency c. capital.


1. Caciuc, Leonora; Costea, Simona - Contabilitate. Teorie i practic, Ed. Augusta, Timioara, 1990 2. Cox, D. - Success in Book-Keeping & Accounts, Hodder Murray, 1990 3. Dansby, Robert L.; Kalister, Burton S.; Strupeck, C. David - College Accounting, Prentice-Hall Inc., New Jersey, 1989 4. Marcheteau, M. Berman - Business & Economics, Ed. Teora, Bucureti, 2004 5. Nstsescu, Violeta - Dicionar economic englez-romn, romanenglez, Ed. Niculescu, Bucureti, 2007 6. Nikolai, Loren A.; Bazley, John D.; Stallman, James C. - Principles of Accounting, Pws-Kent Publishing Company, Boston, 1990 7. *** Oxford business. Dicionar englez-romn, Ed. BIC ALL, Bucureti, 2007


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