Реферат по предмету "Банковское дело"


Переведенная на английский лекция по теме Money and banking деньги и банковское дело, the role o

--PAGE_BREAK--VOCABULARY NOTES


the means of payment -средство платежа

medium of exchange -средство обращения

a standard of
value
-мера стоимости

a unit ofaccount— единица учета

a store of
value
-средство сбережения (сохранения стоимости)

a standard of deferred payment -средство погашения долга

subsequently -впоследствии

a barter economy -бартерная экономика

to swap(alsoswop; syn.to exchange, to barter) -обменивать, менять

to hand over in exchange -передать, вручить в обмен

a double coincidence of wants -двойное совпадение потребностей

a monetary unit -денежная единица

to remind of -напоминать

to be worthless-обесцениваться

an interest-bearing bank account -счет в банке с выплатой процентов

to pay interest -приносить процентный доход

to erode -зд. фактически уменьшать

hard
currency
-твердая (конвертируемая) валюта

soft currency -неконвертируемая валюта

invariably -неизменно, постоянно

prisoner-of-war camp -лагерь военнопленных

commodity money-деньги-товар

token money -символические деньги (дензнаки)

inch -дюйм (равен2,5
см)

to melt down -расплавить

tiny costs -мизерные затраты

legal tender -законное платежное средство

to supplement -дополнять

IOU money — I owe you -я вам должен; деньги-долговое обязательство

a bad deposit -вклад в банке




THE ROLE OF BANKS (РОЛЬ БАНКОВ)

The following story is going to explain the role of banks. In the past most societies used different objects as money. Some of these were valuable because they were rare and beautiful, others- because they could be eaten or used. Early forms of money like these were used to buy goods. They were also used to pay for marriages, fines and debts. But although everyday objects were extremely practical kinds of cash in many ways, they had some disadvantages, too. For example, it was difficult to measure their value accurately, divide some of them into a -wide range of amounts, keep some of them for a long time, use them to make financial plans for the future. For reasons such as these, some societies began to use another kind of money, that is, precious metals.

People used gold, gold bullion, as money. Those were dangerous times, and people wanted a safe place to keep their gold. So they deposited it with goldsmiths, people who worked with gold for jewellery and so on and also had a guarded vault to keep it safe in.And when people wanted some of their gold to pay for things with, they went and  fetched it from the goldsmith.

Two developments turned these goldsmiths into bankers. The first was that people found it a lot easier to give the seller a letter than it was to fetch some gold and then physically hand it over to him. This letter transferred some of the gold they bad at the goldsmith's to the seller. This letter we would nowadays call a cheque. And, of course, once these letters or cheques, became acceptable as a way of paying for goods, people felt that the gold they had deposited with the goldsmith, was just as good as gold in their own pockets. And as letters or cheques, were easier to carry around than gold, and a lot less dangerous, people started to say that their money holdings were what they had with them plus their deposits. So a system of deposits was started. The second development was that goldsmiths realized they had a great deal of unused gold lying in their vaults doing nothing. This development was actually of greater importance than the first.

Now let's turn to the first bank loan ever and see what happened. A firm asked a goldsmith for a loan. The goldsmith realized that some of the gold in his vault could be lent to the firm, and of course he asked the firm to pay it back later with a little interest. Of course, at that moment the goldsmith was short of gold, it wasn't actually his gold, but he reckoned it was unlikely that everyone who had deposited gold with him would want it back at the same time, at any rate - not before the firm had repaid him his gold with a little interest. He thought it safe enough.

To understand what actually happened in this simple transaction let's consider the following table.


Таbl.
6. Goldsmiths as bankers


Assets

Liabilities

1. Old-fashioned goldsmith

2. Gold lender

3. Deposit lender Step 1

4. Deposit lender Step 2
    продолжение
--PAGE_BREAK--Gold $100
Gold $90 + loan 10 Gold $l00 + loan $10 Gold $90+loan $10
--PAGE_BREAK--Assets


£b



Liabilities

£b

Sterling: Cash Bills and market loans

Advances

Securities

Lending in other currencies Miscellaneous assets

TOTAL ASSETS

2,9

34,7

83,0

9,4

54,6

15,5

200,1

Sterling: Sight deposits

Time deposits

CDs

Deposits in other currencies Miscellaneous liabilities TOTAL LIABILITIES
54,1

59,9

8,1


46,2 31,8

200,1



Cash assetsare notes and coin in the banks' vaults. However, modem banks' cash assets also include their cash reserves deposited with the Bank of England. The Bank of England (usually known as the Bank) isthe central bank or banker to the commercial banks.

Apart from cash, the other entries on the asset side of the balance sheet show money that has been lent out or used to purchase interest-earning assets. The second item,bills and market loans, shows short-term lending in liquid assets.

Liquidityrefers to the speed and the certainty with which an asset can be converted back into money, whenever the asset-holders desire. Money itself is thus the most liquid asset of all.

The third item,advances, shows lending to households and firms. A firm that has borrowed to see it through a sticky period may not be able to repay whenever the bank demands. Thus, although advances represent the major share of clearing bank lending, they are not very liquid forms of bank lending. The fourth item,securities, shows bank purchases of interest-bearing hug-term financial assets. These can be government bonds or industrial shares. Although these assets are traded daily on the stock exchange, so in principle these securities can be cashed in any time the bank wishes, their price fluctuates from day to day. Banks cannot be certain how much they will get when they sell out. Hence financial investment in securities is also illiquid.

The final two items on the asset side of the balance sheet showlending in foreign currencies andmiscellaneous bank assets. Total assets of the London clearing banks were £200,1 billion. We now shall examine how the equivalent liabilities were made up.

Deposits are chiefly of two kinds: sight deposits and time deposits. Whereas sightdeposits can be withdrawn on sight whenever the depositor wishes, a minimum period of notification must be given beforetime deposits can be withdrawn. Sight deposits are the bank accounts against, which we write cheques, thereby running down our deposits without giving the bank any prior warning. Whereas most banks do not pay interest on sight deposits or cheque(checking) accounts, they can afford to pay interest on time deposits. Since they have notification of any withdrawals, they have plenty of time to sell off some of their high- interest investments or call in some of their high-interest loans in order to have the money to pay out deposits.

Certificates of deposit (CDs)are an extreme form of time deposit where the bank borrows from the public for a specified period of time and knows exactly when the loan must be repaid. The final liability items in Таbl. 7 show deposits in foreign currencies, miscellaneous liabilities, such as cheques, in the process of clearing.

VOCABULARY NOTES

a financial intermediary-финансовый посредник

to bring together -соединять, сводить вместе

insurance companies -страховые компании

pension lands -пенсионные фонды

the money stock -денежная масса, деньги в обращении

to issue deposits -открывать вклады

the National Girobank -англ.Национальный жиробанк

trustee saving banks -доверительные сберегательные банки

London clearing banks -лондонские клиринговые банки (банки-чле­ны расчетной палаты)

a central clearing house -центральная расчетная палата

inter-bank accounts -межбанковские счета

Barclays -Барклайз банк (Великобритания)

Lloyds -Ллойдз банк (Великобритания)

to credit -кредитовать

to debit -дебетовать

chequerecipient -получатель чека

cash assets -денежные активы

the Bank of England -Банк Англии, Английский банк

interest-earning(syn.interest-bearing) assets -активы, приносящие про­центный доход

bills and market loans -векселя и рыночные займы

short-term lending -краткосрочное кредитование

liquid(ant.illiquid) assets -ликвидные активы

liquidity — ликвидность

advances -ссуда в вида аванса

a sticky period -трудный период

securities -
ценные бумаги

interest-bearing long-term financial assets -долгосрочные финансовые активы, приносящие процентный доход

government bonds -государственные облигации

industrial shares -промышленные акции

the stock exchange -
фондовая биржа

niscellaneousbank assets -прочее имущество банка

sight deposit -депозит до востребования; бессрочный вклад

time deposit -срочный вклад

to withdraw -отзывать (вклад)

to run down a deposit -уменьшать вклад

cheque(checking) accounts -текущий (чековый) счет

to sell off -распродавать

cad in high-interest loans -требовать возврата займов (требовать уплаты процентов)

certificates of deposit -депозитные сертификаты  

miscellaneous liabilities'прочие (другие) пассивы


1. GENERAL DEFINITION OF ACCOUNTING

Today, it is impossible to manage a business operation without accurate and timely accounting information. Managers and em­ployees, lenders, suppliers, stockholders, and government agen­cies all rely on the information contained in two financial state­ments. These two reports — the balance sheet and the income statement — are summaries of a firm's activities during a specific time period. They represent the results of perhaps tens of thou­sands of transactions that have occurred during the accounting period.

Accounting is the process of systematically collecting, an­alyzing, and reporting financial information.The basic prod­uct that an accounting firm sells is information needed for the cli­ents.

Many people confuse accounting with bookkeeping. Book­keeping is a necessary part of accounting. Bookkeepers are re­sponsible for recording (or keeping) the financial data that the ac­counting system processes.

The primary users of accounting information are managers. The firm's accounting system provides the information dealing with revenues, costs, accounts receivables, amounts borrowed and owed, profits, return on investment, and the like. This infor­mation can be compiled for the entire firm; for each product; for. each sales territory, store, or individual salesperson; for each divi­sion or department; and generally in any way that will help those who manage the organization. Accounting information helps managers plan and set goals, organize, motivate, and control. Lenders and suppliers need this accounting information to evaluate credit risks. Stockholders and potential investors need the information to evaluate soundness of investments, and government agencies need it to confirm tax liabilities, confirm payroll deductions, and approve new issues of stocks and bonds. The firm's accounting system must be able to provide all this information, in the required form.

2. THE BASIS FOR THE ACCOUNTING PROCESS

The basis for the accounting process is the accounting equation.It shows the relationship among the firm's assets, liabil­ities, and owner's equity.

Assetsare the items of value that a firm owns —'cash, inven­tories, land, equipment, buildings, patents, and the like.

Liabilitiesare the firm's debts and obligations — what it owes to others.

Owner's equityis the difference between a firm's assets and its liabilities — what would be left over for the firm's owners if its assets were used to pay off its liabilities.

The relationship among these three terms is the following:

Owners' equity = assets — liabilities

(The owners' equity is equal to the assets minus the liabilities)

For a sole proprietorship or partnership, the owners' equity is shown as the difference between assets and liabilities. In a part­nership, each partner's share of the ownership is reported sepa­rately by each owner's name. For a corporation, the owners' eq­uity is usually referred to as stockholders ' equity or sharehold­ers ' equity. It is shown as the total value of its stock, plus retained earnings that have accumulated to date.

By moving the above three terms algebraically, we obtain the standard form of the accounting equation:

Assets = liabilities + owners' equity

(The assets are equal to the liabilities plus the owners' equity)
3. A BALANCE SHEET

A balance sheet (or statement of financial position)
,
is a summary of a firm's assets, liabilities, and owners' equity ac­counts at a particular time,showing the various money amounts that enter into the accounting equation. The balance sheet must demonstrate that the accounting equation does indeed balance. That is, it must show that the firm's assets are equal to its liabilities plus its owners' equity. The balance sheet is prepared at least once a year. Most firms also have balance sheets prepared semi-annually, quarterly, or monthly.

4. AN INCOME STATEMENT

An income statement is a summary of a firm's revenues and expenses during a specified accounting period.The in­come statement is sometimes called the statement of income and expenses. It may be prepared monthly, quarterly, semiannually, or annually. An income statement covering the previous year must be included in a corporation's annual report to its stockholders.

5. THE IMPORTANCE OF THE ABOVE TWO STATEMENTS

The information contained in these two financial statements becomes more important when it is compared with corresponding information for previous years, for competitors, and for the indus­try in which the firm operates. A number of financial ratios can also be computed from this information. These ratios provide a picture of the firm's profitability, its short-term financial position, its activity in the area of accounts receivables and inventory, and its long-term debt financing. Like the information on the firm's fi­nancial statements, the ratios can and should be compared with those of past accounting periods, those of competitors, and those representing the average of the industry as a whole.


Vocabulary

1. General Definition of Accounting


general

accounting

account

impossible

manage

without

accurate

lender

stockholder

agency

rely (on)

statement

report

balance sheet

income statement

summary

specific

represent

perhaps

transaction

occur

accounting period

report

needed

client

confuse

bookkeeping
responsible

record

data

process

user

provide

deal (with)

revenue
accounts (debt) receivables
amount

borrow

owe

profit

investment

return on investment

and the like compile

sales territory

store

общий

счет

(бухгалтерский) учет ведение счетов

невозможный

зд.руководить, управлять

без

точный

кредитор, заимодавец

акционер

зд.ведомство, орган

полагаться (на)

зд.отчет

отчет

балансовый отчет, баланс

отчет о доходах

обобщенный отчет, итоги

конкретный

представлять

возможно

сделка, деловая операция

зд.происходить, иметь место

отчетный период

сообщать

нужный

клиент

смешивать (в уме), путать

счетоводство, ведение бухгалтерских книг, бухгалтерия

ответственный

записывать, вести учет

данные

обрабатывать

пользователь

обеспечивать

зд.иметь отношение (к)

доход
дебиторская задолжен­ность (долг, который следует получить ком­пании, счета дебито­ров, счета к получению

сумма

занимать, брать взаймы

быть должным

выгода, прибыль

инвестиция, инвестирование

прибыль на инвестиро­ванный капитал

и тому подобное собирать

территория продажи

магазин

individual salesperson

отдельный продавец

division

зд.сектор

department

отдел

generally

вообще

in any way

зд. влюбой форме

set goals

ставить цели

control

контролировать, управлять

evaluate

оценивать

potential investor

потенциальный инвестор

soundness

надежность

confirm

подтвердить

tax

налог

liability

зд.пассив;задолженность

payroll

платежная ведомость (по зарплате)

deduction

удержание, вычеты

approve

зд.утверждать, одобрять

issue

выпуск

stock

амер.акции, англ. ценные бумаги

bond

облигация

be able

быть способным

provide

предоставлять

in the required form

в требуемом виде



    продолжение
--PAGE_BREAK--2. The Basis for the Accounting Process

basis

основа

accounting equation

бухгалтерская сбалансированность

(дебет и кредит)

relationship

соотношение

assets

активы, авуары, зд. актив баланса

own

владеть

item of value

материальные ценности

owner

владелец, собственник

debt

obligation

долг

обязанность, обязательство

owner's equity

собственный (уставной) акционерный

 капитал

pay off

расплачиваться (с)

term

зд.понятие, значение

sole

proprietorship

partnership

единоличный

право собственности

партнерство, товарищество

share

доля

report

сообщать

is referred (to)

зд.называться

stockholder's equity

доля акционера

retained earning

нераспределенная прибыль

accumulate

накапливаться

to date

зд.к определенному времени

move

зд.переставлять

above

вышеуказанный

algebraically

алгебраически

obtain

получать


3. A Balance Sheet

statement

зд.отчет

summary

сводка, краткое изложение


particular

конкретный


various

различный


enter

demonstrate

входить

показывать


indeed

действительно


balance

уравновешиваться


that is

то есть


prepare  

готовить


at least  

по крайней мере


once

один раз 1


semiannually

развполгода


quarterly 

ежеквартально



    продолжение
--PAGE_BREAK--


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