Английский язык (стр. 4 )

A budget fulfils various functions: it is both a tool and a compass for periodically comparing the budget plan with the actual results (‘feedback’) company processes can be controlled. Control requires a set of goals (the budget) and feedback as to how well those goals are being met. Budgeting obliges the management to contemplate the future. The budgeting stages formally determine the internal cohesion and necessary harmonizing of company activities which may be functionally divided between various departments. In this sense, a budget is an important means of co-ordination.

A budget is also a means of authorization. The staff member responsible for a section of the budget is authorized to make expenditures to the extent given in the budget without the further consent of higher management. Thus, certain authority is delegated, and management is freed to direct its attention to the future. Intervention in the actual course of business is then only necessary if there are (significant) deviations in the actual results as compared to the plan. The budget makes ‘management by exception’ possible.

Although the budget is typically a reflection of the financial results to be expected from the planned activities, quantity budgets which are only concerned with the number of units produced can also be included in the total budget system. A quantity budget is also ultimately converted to financial consequences, so it can be integrated into the master budget, but the price effect is eliminated so far as the performance report on this function is concerned.

A good rule of thumb is to include in a budget only those elements which are controllable by the employee or manager concerned (controllability principle). Otherwise the budget would cease to be an accountability standard. An employee will generally not be accountable for changes in the general level of interest rates, to the extent that his or her strategic choices are to borrow long or short, to make a share issue, or to cover risks on the future market. Similarly at some levels and in some situations, wage levels are partially controllable by the personnel management. The most senior management is responsible for ‘the bottom line’, that is they are accountable for the end-result, be it profit or loss.

II. Put the terms into the box:

Labour costs, production costs, advertising costs, distribution costs, storage costs, selling costs, administrative costs;

Fixed costs	Variable costs

III. Irrevocable Letter of Credit

Barclays Bank PLC

Manchester International Services Branch

Third floor, 51 Mosley Street, Manchester M60 2BU. UK

Phone: 061 Telex: 667565 AnswerBK: Barman G

Beneficiary:

Nathan and Coles Limited Advice of

Nathan Road (1) Irrevocable Documentary Credit (5)

London SE11 8JB Number: NJDC 603921

United Kingdom Date of Expiry: 31st August 2012 (2)

Place of Expiry: United Kingdom

Amount: up to GBP 160,000.00 (6)

Up to one hundred sixty thousand

And 00/100’s pounds sterling

Our Advice Number: MADC 708447

Opening Bank: Applicant:

Barclays Bank of Canada Murray Corporation Limited (7)

PO Box Causeway Boulevard

Commerce Court Postal System Toronto

Toronto, Ontario

Canada 30th June 2011

Dear Sir(s)

This letter of credit is available with Barkley Bank PLC: by payment against presentation of the documents (8) detailed herein and of your drafts at sight drawn on Barclays Bank PLC, Manchester for 100 per cent of invoice value.

Documents required: (3)

1-  Commercial invoice in quadruplicate

2-  Insurance Policy/ Certificate in duplicate covering marine and war risks for 110 per cent of the invoice value

3-  Full set of clean o board blank endorsed port to port bills of landing marked notify Murray Corporation Limited, 1052 Causeway Boulevard, Toronto, Ontario

Covering the following goods:

16 – Printing machines Nathan and Coles model Caxton Excelsior 1470 (9)

Cost, insurance and freight Toronto (4)

Partial shipments: not allowed (10)

Shipment from: UK port

No later than: 1st August 2012 (11)

Foe transportation to: Toronto

Documents must be presented at place of expiration within 15 days of issue date of transport document and within the L/C validity.

Documents are to be accompanied by your drafts drawn on Barclays Bank PLC at sight marked ‘drawn under irrevocable letter of credit N TODC 603921 of Barclay Bank of Canada and quoting our reference number MRD 708447

Important: Please carefully check the details of this credit as it is essential that documents tendered conform in every respect with the credit terms. If you are unable to comply, please communicate with your buyers promptly in order that they may arrange a suitable amendment without delay. If documents are presented which differ from the credit terms, we reserve the right to make an additional charge.

We add our conformation to this credit and undertake that draft(s) and documents drawn under and in strict conformity with the terms thereof will be honoured on presentation.

This credit is subject to the uniform customs and practice for documentary credits (2010 revision), ICC Publication Number 500.

Yours faithfully

Specimen Specimen

…………… …………..

Authorized signature Authorized signature

IV.  Look at the letter of credit. Read the explanations of the various sections below, and agree which explanation goes with which number in the document:

The Documentary Letter of Credit is a form of payment widely used in foreign trade. Most credits are similar in appearance and contain the following details:

The terms of contract and shipment (i. e. whether ‘EXW’,FOB’, ‘CIF’, etc.) The name and address of the importer Whether the credit is available for one or several part shipments The amount of the credit, in sterling or in a foreign currency The expiry date A brief description of the goods covered by credit The name and address of the exporter Precise instructions as to the documents against which payment is to be made The type of credit (revocable or irrevocable) Shipping details, including whether part shipments and/or transshipments are allowed. Also recorded should be the latest date for shipment and the names of the ports of shipment and discharge. (It may be in the best interest of the exporter for shipment to be allowed ‘from any UK port’ so that a choice is available if, for example, some ports are affected by strikes. The same applies for the port of discharge.) The name of the party on whom the bills of exchange are to be drawn, and whether they are to be at sight or of a particular tenor.

V.  Translate this letter of credit into English:

Заявление на открытие аккредитива

Номер……..от ………2011 года

Просим открыть безотзывный, трансферабельный, подтвержденный документарный аккредитив.

Название и адрес ………………………………………………………………………….

Название и адрес бенефициара……………………………………………………………

Сумма (цифрами и прописью)……………………………………………………………

Исполняющий банк ……………………………………………………………………….

Подтверждающий банк ……………………………………………………………………

Частичные отгрузки: разрешены запрещены

Перегрузка: разрешена запрещена

Срок действия:………………………………………………………………………………

Истекает в……………………………………………………………………………………

Доставка из …………………………………………………………………………………

10% поправка на:……………………………………………………………………………

Сумма аккредитива:………………………………………………………………………..

Количество товара:…………………………………………………………………………

Доставка в……………………………………………………………………………………

Условия поставки: морем, воздухом, ж./д, смешанным транспортом

Описание товара:………………………………………………………………………………

В соответствии с контрактом………………………………………………………………….

Аккредитив исполняется путем платежа/акцепта/негоциации в течение …..дней против предоставления следующих документов:

- тратта, в двух экземплярах, выписанная на ……….., на полную сумму счета (аккредитива)

- коммерческий счет в оригинале плюс ….копии

- упаковочный лист в оригинале плюс …..копии

- сертификат происхождения в оригинале плюс …..копии

- полный комплект чистого морского бортового коносамента, подписанного на…….с извещением……..и с пометкой «фрахт оплачен/взыскан» плюс ……копии.

Оригинал и ….копии транспортного документа: авианакладная/ автонакладная/ ж/д накладная с пометками………..

Страховой полис/ сертификат в оригинале плюс………копии с покрытием стоимости товаров плюс …..% против грузовых рисков (institute cargo clauses), военных рисков (institute war clauses) или/ и забастовочных рисков (institute strikes clauses).

Страхование оплачивается нами, страхового документа не требуется.

Дополнительные документы:………………………………………………

Дополнительные условия………………………………………………….

Плата за обслуживание аккредитива:

- Инвестбанку: с нашего счета со счета бенефициара

- Всем другим банкам за пределами СНГ/России: с нашего счета, со счета бенефициара

Документы должны быть предоставлены в течение….дней после выписки отгрузочных документов, но в пределах срока действия аккредитива.

Просим покрытие аккредитива и комиссии банка списать с нашего счета номер……..

Генеральный директор……………………………………….

Главный бухгалтер …………………………………………..

Оттиск печати

Text B

Insurance

Vocabulary

Actuary	Регистратор
Assessor	Оценщик страховых убытков
Claim	Иск о возмещении ущерба
Compensation	Компенсация, пособие по несчастному случаю
Comprehensive	Всесторонний, детальный, тщательный
Consequential	Косвенный ущерб
Cover	Перечень рисков, охватываемый полисом, страхование
Employers liability insurance	Страхование ответственности работодателя
Estimate (v)	Оценивать
Excess	Излишек, превышение
Exemptory damages	Освобождение от уплаты возмещения
Full-time employee	Работник, занятый полный рабочий день
Goods in transit	Транзитный груз
Indemnity	Возмещение ущерба
Insurance broker	Страховой брокер
Insurance policy|certificate	Страховой полис (сертификат)
Insured	Страхователь
Insurer	Страхователь, страховое общество
Liability	Ответственность
Life assurance/insurance	Страхование жизни
Loss	Ущерб
Loss adjuster	Оценщик ущерба
Medical insurance	Медицинское страхование
No-claims bonus	Премия за отсутствие рекламаций
No-claim discount	Надбавка за отсутствие рекламаций
Part-time employee	Служащий, занятый неполный рабочий день
Policy	Страховой полис
Policy holder	Страхователь, держатель страхового полиса
Premium	Страховая премия
Product liability	Страхование ответственности за качество продукта
Professional indemnity insurance	Страхование от ущерба в ходе профессиональной деятельности
Public liability	Страхование гражданской ответственности
Punitive damages	Штрафные убытки
Reinsurance	Возобновляемая страховка
Relief	Средство судебной защиты, возмещение
Risk	Риск, страховая сумма
Schedule	Прейскурант, шкала
Seasonal employee	Сезонный работник
Temporal employee	Временный работник
Term	Аренда на срок
Term insurance	Страхование на срок
Third party	Третья сторона
Waiver	Освобождение от ответственности
Wrongful employment	Незаконное принятие на работу

I.  Read the advertisement of an insurance firm and translate it into Russian:

Liability Insurance

1)  Standard coverage

Broad definition of insured includes full-time, part-time, seasonal and temporary employees, as well as insured entity and any subsidiary (as defined)

Broad definition of wrongful employment act includes discrimination, harassment (including sexual), wrongful termination, constructive discharge, wrongful failure to hire, wrongful demotion, retaliation, misrepresentation, infliction of emotional distress, defamation, invasion of privacy, humiliation, wrongful evaluation, and breach of an implied contract.

Bodily injury exclusion includes carve out for emotional distress, mental anguish defamation (including libel and slander), invasion of privacy, or humiliation.

Duty to defend policy language

Broad definition of claim includes written demand or assertion for monetary or non-monetary relief, including civil, criminal, administrative, or arbitration proceedings.

Loss includes punitive exemplary damages up to the limit of liability, where insure; most favourable jurisdiction language applies.

Automatic coverage for subsidiaries created or acquired during the policy period whose assets are less than 25% of the insured entity.

EEOC (or state equivalent) charges are covered

No international acts exclusion

No downsizing exclusion

No copyright/ patent exclusion

Full prior acts coverage

36 month extended reporting period is available if the named insured cancels or if the insurer or named insured refuses to renew

Non-cancelable by insurer, except for non-payment of premium

Worldwide coverage

No co-insurance

Limits of liability up to $5.000, 000

Deductibles available from $5,000

2)  Additional

Coverage enhancements for:

Co-defendants liability

Third party liability

Additional insured, including coverage for leased employees, independent contractors, volunteers, and spouses.

General partnership coverage including failure to make partner language

Costs of defense in addition to the limit of liability

Waiver of deductible (if a ruling of no liability is obtained)

Modification of ‘hammer clauses’ (50%/ 50% or 70%/ 30% co-insurance)

Choice of defense counsel

Risk Management Services:

Loss Prevention Manual

Guidelines for Reducing Exposure to

Employment Lawsuits

Toll-free Employment Practices Loss Prevention Hotline

3)  Target Markets:

White Monitor is pleased to underwrite any sized account and most types of companies,

its target market can best be described as follows:

Companies employing up to 2,000 panies with dedicated human resource professional or department.

Companies that already publish an employee handbook or written employee policies and procedures.

Coverage is not currently available to risks in the following industries:

Automobile dealerships

Credit reporting services, Educational services

Employment agencies ‘Professional employer organizations’. Government entities.

Hospitals

Hotels/ hotel management

Labor organizations

Political organizations

Real estate companies/ Real estate management

Temporally employment agencies

Tobacco companies

Strength and Stability

As part of the W. R. Berkley Corporation, Monitor has the size and financial strength to provide stability for our clients,

Expert Claims Handling:

Monitor lays a dedicated team of professionals, including attorneys, with experience in employment-related litigation. Their experience can provide comfort to anxious insureds when a claim arises.

Special Expertise:

Monitor has developed extensive relationships with experts and consultants who specialize in aspects of employment issues. These independent relationships allow us to develop loss prevention services to meet the specific needs of our insureds while keeping premium costs in balance.

II.  Complete the words below to match the given meanings:

Payment made by an insurer A document which is evidence that someone has insurance Covered by insurance policy Possibility that something might happen The amount charged for insurance Payment to help someone who has suffered loss or injury Insurance protection A small part of the total loss which should be paid by the insured person when he/ she makes an insurance claim A type of insurance which pays out on the death of the insured, or at a specific pre-determined time. A type of insurance to meet hospital costs after an accident or injury A person whose job to find appropriate insurance at an appropriate price S description of what happened and a request to an insurer to meet the costs resulting from the event. Someone other than the insured who suffers loss or injury in an accident A document issued by an insurance company describing the type of insurance offered and requesting payment A document describing an insurance agreement The period for which an insurance policy is effective

III.  Mr. Smith has sent a claim form to his insurer after a fire at his restaurant. He receives the reply plete the text with appropriate words from the box:

Claim cover legal costs policy

compensation estimate loss adjuster premium

comprehensive indemnity no claims bonus

Bridge Insurance Ltd

124 Kew Gardens Road, London SW2 5HB

Tel: 0Fax: 0

Mr. Smith

Restaurant ‘Tasty Things’

120 Riverside Road

London EC23 5TR

2 March 20….

Dear Mr. Smith

Re: Policy number DR 239981 R, Claim Ref. DR 4381

Thank you for your (1)………..relating to the fire at your restaurant. We confirm that your policy is (2)…………………..and therefore covers fire.

Our (3)…, Peter Carrow, will visit you on 7 March to see the damage.

You will receive (4)…………..for all damage to the building and equipment. You should supply an (5)…………..from two firms for the repairs. You will also receive (6)…………..for loss of business, though you will have to make a separate claim. In addition, your (7) ………………..also provides (8)………..for any (9)……..…..which may arise.

Finally we would like to inform you that your (10)………will rise by 10% as your (11)…………will be affected by this incident.

Yours sincerely

Margaret Jones

Margaret Jones

Claims Manager

IV.  Look at the words used with the term claim; use the verbs to fill the gaps in the sentences below. Put the verbs into the correct form:

To submit, to accept, to settle, to make, to reject

1) ‘Good morning. Claims department. Can I help you?’

‘Yes, my name is David Smith. My car was involved in an accident earlier today, and I’d like to……….a claim on my policy’.