Ex.5. Study the following phrases. Translate them into Ukrainian

ad budget, annual budget, approved budget, consumer budget, current budget, deficit-free budget, household budget, low budget, master budget, operating budget, overall budget, surplus budget.

Ex.6. Match the nouns in the left-hand column with the verbs in the right-hand column. Translate the phrases into Ukrainian:

the budget the financial operating plan

carry out negotiate offer prepare realize revise submit draw up cut increase reduce set approve pass

Ex.7. Look at the words and phrases in the box. Match them with the correct definition from the list below.

1. a plan of expected income and expenditure for a particular period of time;

2. the total of separate budgets from different departments within a company;

3. a standard plan for the performance of a business by which its operations may be measured and regulated;

4. a statement about what one thinks will happen in the future;

5. related to a 12-month period of business activity;

6. the people who control a company;

7. an aim or target;

8. the main internal workings of business.

Ex.8. Write the appropriate word or phrase in the following spaces. Translate the sentences into Ukrainian.

1. The financial director is responsible for the firm’s … .

2. … involves setting financial goals and standards for an enterprise.

3. Our company’s … is the calendar year, January 1 to December 31.

4. The new channel will be launched with a $3 million promotional ….

5. A desire to go to business school … her to study mathematics hard.

6. She was given a … of € 25 000 to launch the magazine.

7. In the UK, the government’s … runs from 6 April to the following 5 April.

8. Our financial manager will calculate the total profit at the end of the … period.

9. The boss … the quality of her employees’ work.

10. The … of this month’s sales is up 20 %.

11. The company … for a 5% increase in sales.

total, monitors, accounting, financial year, motivates, budgeted for, budget (2), fiscal year, budgeting, budgets.

Ex.9. Fill in the missing prepositions.

Budgeting

Budgeting is the process … preparing budgets and exercising budgetary control. Budgeting encourages forward thinking … managers; serves to help coordinate different functions and departments … the firm. It defines the responsibilities … individual managers, provides a framework … delegating responsibility; and provides an instrument … control; and a basis … modifying plans, where necessary.

(of (2), by, in, for (3)

Exercises in Comprehension

Ex.1. Answer the following questions:

1. What does "to budget for" mean?

2. What is a budget? What does it show?

3. Why is the preparation of a budget an important aspect of a company’s success?

4. What is the primary objective of the budget?

5. What is the customary accounting period for the budget?

6. What is a master budget?

7. What can a master budget be used for?

8. What is a control device?

9. What does the success of the budgeting process depend on?

Ex.2. Sum up what you remember about:

s a budget and budgeting;

s the fiscal year;

s a master budget.

Ex.3. Translate into English:

Державний бюджет

Державний бюджет – це план формування та використання ресурсів для забезпечення завдань і функцій центральними та місцевими органами влади. Він є важелем впливу на національну економіку та відображує економічну ситуацію в країні. Бюджет є планом того, які види діяльності мають фінансуватися, скільки коштів буде витрачатися на оборону, охорону здоров’я, освіту, соціальні послуги та на інші програми.

У періоди економічного зростання з’являється більше робочих місць. Держава має можливість фінансувати більше програм.

Grammar Revision

Modal Verbs Certainty, Possibility, Probability must, may, might, could, can’t, should, ought to 1. We use must or can’t + infinitive to say we are certain about something; we have some evidence to reach this conclusion. We use must to indicate “positive” certainty and can’t to indicate “negative” certainty. We don’t use mustn’t or can to talk about certainty. She must be very happy. She has finished her experiments. That can’t be our business partner. He is arriving tomorrow.

2. We use may, might or could + infinitive when we are speculating that something is possible. She may/might/could pass her exam this time. (It’s possible that she will pass her exam)

3. We use should and ought to + infinitive to show that something is probable now or in the future. He should/ought to pass his exams. (He will probably pass)