Ex.1. Complete these sentences using the correct form of must, have to, need, should, ought to.

1. You ________ not worry about the article. – I’ll translate it later.

2. The drivers in Ukraine ______ wear seat belts.

3. You _______ have medical insurance when you go abroad.

4. You _______ to buy a licence if you want to set up your own business.

5. The customers ________ not pass this point.

6. They _______ to transfer money yesterday.

7. A CPA _______ pass a series of examinations, after which he receives a certificate.

8. You ______ have the financial statement ready by the end of the month.

9. He ______ invite her to the meeting.

10. You _______ to fill in this application form.

11. You _______ to consult an expert to identify this document.

12. You ______ not take a car to get to the office. I’ll gladly give you a lift.

13. He ______ to send a letter of apology.

14. This is serious, he ______ not joke about it.

15. My boss was ill and I _______ to attend that press conference.

16. They ______ follow his advice.

Ex.2. Translate into English:

1. Керівництво встановлює правила, а ви повинні виконувати їх.

2. Ціна на цей новий товар дуже висока. Ви повинні знизити її.

3. Я вважаю, що він повинен піти у відставку після цього засідання.

4. Почекай трошки, я повинен продивитися ці документи.

5. Тобі не слід втручатися в цю брудну справу.

6. Йому довелося відповісти на багато запитань після засідання Ради Директорів.

7. Йому не слід нехтувати твоїми корисними порадами.

8. Ви повинні вивчити попит споживачів перш, ніж розпочинати виробництво цієї продукції.

9. Тобі потрібно допомогти їй. Вона ще ніколи не складала фінансовий звіт.

10. Коли я змінив роботу, я змушений був переїхати на іншу квартиру.

11. Офіціанти повинні сплачувати податок на гроші, які вони одержують від клієнтів.

12. Ви повинні приходити на роботу вчасно.

13. Ви повинні відправити цей факс негайно.

14. Ти не повинен розмовляти з покупцями таким чином.

Ex.3. Make up sentences about your university environment. Your sentences should describe:

s obligation

s prohibition

s no necessity to do something

Speech and Discussion

Ex.1. Explain why accounting is a basic and vital element in modern business.

Ex.2. Speak about some of the qualifi-cations, both technical and personal, that you think an accountant must have in order to achieve success in his or her field.

Ex.3. Discuss with your groupmates the advantages and disadvantages of a career in accounting.

Ex.4. Familiarize yourself with the following idioms, consult your dictionary and translate the sentences into Ukrainian. Think of situations where you could use them:

1. I don’t believe the company made that profit. Peter has been cooking the books so that he can get a good price for the business.

2. Mr. Brown had to foot the bill for his son.

3. I’ll be hanging up my boots next year. I think I deserve a rest after running the business for thirty years.

4. I can see you have set your mind on taking the job, so I won’t try to dissuade you.

5. I warned you that the idea would never work; what a pity you wouldn’t listen to reason.

Ex.5. Comment on the following:

“When two men in business always agree, one of them is unnecessary.”


Lesson 2

Text: Budgeting

Grammar: Modal Verbs. Certainty, Possibility, Probability.

Terms to remember:

budget for, v ™ планувати майбутні прибутки і витрати
budgeting ™ складання бюджету
motivate (v) ™ спонукати
operating plan ™ виробничий план
anticipate (v) ™ очікувати; передбачати
primary ™ основний; найважливіший
framework ™ рамки; межа; структура
fiscal year ™ бюджетний рік; фінансовий рік
arbitrarily ™ довільно; випадково
master budget ™ головний бюджет, загальний бюджет
control device ™ контрольний засіб, стандартний план діяльності бізнесу


All companies have to budget for, or plan, their costs and have a budget.

The preparation of a budget is an important aspect of a company’s success. The preparation of it helps management to establish short-term and long-term goals and standards for the company, motivates employees to achieve company goals, provides for a systematic review of performance. The success of the budgeting process depends on the cooperation of all employees.

Budget (of a business) is the financial operating plan for an organization for a fixed period. The budget shows what income is anticipated and how the resources will be used during the budget period. It is a forecast used by a business to plan and control.

The primary objective of the budget is to establish a financial framework for the operations of the business. The accounting period for the budget is usually either the calendar year or the fiscal year. The fiscal year is any arbitrarily chosen twelve-month period that does not correspond to the calendar year.

The total of separate budgets from different departments within a company that shows in detail how the entire business operates is called master budget. As the business year progresses, management can use the budget as a control device that permits monitoring of the company’s operations.

Exercises in Word Study

Ex.1. Form nouns from the following verbs:

prepare, establish, motivate, achieve, cooperate, operate, anticipate, permit.

Ex.2. Give the English for:

успіх компанії; встановлювати довгострокові цілі; процес складання бюджету; встановлений строк; прибуток; прогноз; найважливіша задача; бюджетний рік; головний бюджет; використовувати бюджет як контрольний засіб; контролювати роботу компанії; виробничий план; бюджетний період.

Ex.3. Match words from list A with words from list B that have a similar meaning:

operate goal progress achieve systematic fixed anticipate primary permit total sum main expect definite reach regular allow objective function develop

Ex.4. Find suitable opposites to the following words:

short-term; periodic; failure; expenditure; secondary.