Unit 6 Finance公開課一等獎省優(yōu)質(zhì)課大賽獲獎?wù)n件

Unit6FinanceThebottomlineLearnBusinessDoBusiness1Reading13LearnBusiness2BIZknowledge2Listening&SpeakingLookatthegraphshowingtheperformanceoftheEnronshareprice1991-andmatchthechangeswiththetimeperiods.ReadingWarmup3

1fluctuatedmildly

2asharpincrease

3reachedapeak

4rosesteadily

5droppedslightly

6adramaticandsuddenfallA-B1991-mid1993Cmid1993-1994D1994-1998E1998-FReadingWarmup4DCAEFBEnronEnron,aHouston-basedenergyfirmfoundedbyKennethLay,transformeditselfovera16-yearperiodfromanobscuregas-pipelinebusinesstotheworld’slargestenergy-tradingcompany.Enronwassuccessfulforalongtimebutthenranintodifficulties.ItsattemptedentryintoCalifornia’sretailelectricitymarketwasproblematic.Thecompany’s10-yearinvolvementinDabhol,anIndianpower-plantproject,alsowentbadlywrong.InOctoberEnron’ssharesandcreditratingplunged.ThecompanywasforcedtoagreetoamergerwithDynegy,arivalfirm.ButDynegybackedoutinNovemberbecauseofconcernsaboutEnron’sdebt.(ItalsofearedlegalactionoverirregularitiesinEnron’saccounting.)Enronthenfiledforbankruptcy.5ReadingBackgroundinformationRoyalAholdRoyalAholdoftheNetherlands,theworld’sthird-biggestfoodretailer,overstateditsprofitsfor-02byasmuchas$500m.Ahold’saccountingirregularitiesmainlyinvolvedAmericansubsidiariesthatithadboughtovera10-yearperiod.Butthecompany’sAmsterdam-basedauditors,Deloitte&Touche,failedtopicktheproblemsupin,eventhoughworriesaboutAhold’saccountswerewidelyexpressedinthemarkets.Ahold’sboard,insteadofaskingquestions,extendedthetermofthechiefexecutiveforuptosevenyears.TheDutchmarketregulatoradmittedthatithadnopowersofdisciplineoverfaultyauditing.6ReadingBackgroundinformationirregularityn.違規(guī)行為e.g.Theclubwerefoundguiltyoffinancialirregularities.Thatapart,thesimilaritiesbetweenthetwoarestriking,fromtheverybadcorporategovernance,aggressiveearningsmanagementandaccountingirregularitiestoauditorswhoserolemustbecalledintoquestion.7ReadingText&Vocabularyauditorn.審計員e.g.Anauditorisanaccountantwhoofficiallyexaminestheaccountsoforganizations..Thatapart,thesimilaritiesbetweenthetwoarestriking,fromtheverybadcorporategovernance,aggressiveearningsmanagementandaccountingirregularitiestoauditors

whoserolemustbecalledintoquestion.8ReadingText&VocabularyOn24FebruaryAholdannouncedtheresignationofitschiefexecutiveandfinancedirectorafterfindingthatithadoverstateditsprofitsbymorethan€463m($500m).9resignationn.辭職e.g.Therehasbeenmuchgossipincommercialcirclesastohisresignation.ReadingText&VocabularyOn24FebruaryAholdannouncedtheresignationofitschiefexecutiveandfinancedirectorafterfindingthatithadoverstated

itsprofitsbymorethan€463m($500m).10overstatevt.夸大e.g.Theauthorsnodoubtoverstatedtheircasewithaviewtocatchingthepublic'sattention.ReadingText&VocabularyItsmarketvalueplungedby63percentthatday,to€3.3bn.Inlate,itexceeded€30bn.11plungevi.突然地下降e.g.ThePesoplungedtoanewlowontheforeignexchangemarketsyesterday.ReadingText&VocabularySuchaclaimabsolves

Ahold’sbossesofresponsibilityfortheiracquisitionsanddishonestyandignoresthepersistent,firm-widetendencytotestthelimitsofacceptableaccounting.12absolvevt.

免去……責任e.g.Aninvestigationyesterdayabsolvedthepoliceofallblameintheincident.ReadingText&VocabularyMostfirmsthatbuyinbulkgetdiscountsfromsuppliersiftheymeetsalestargets.13inbulk大批地e.g.Remember,thefirsttranslationisgenerallydoneinbulkbytranslatorswhohavenoproductexperience.ReadingText&VocabularyTheissueishowthoserebates

areaccountedfor.14rebaten.（作為減免或折扣）部分退款e.g.Citicorpwillguaranteeitscreditcardcustomersarebateonanumberofproducts.ReadingText&VocabularyReadthetextandfindouttheaccountingirregularitiesthatarementioned.OverstatingitsprofitsBookingrebatepaymentsbeforetheywereearned151ReadingComprehensionReadthetextagainanddecidewhetherthefollowingstatementsaretrue(T)orfalse(F).

1Theauditors’roledoesnotmakeoneofthesimilaritiesbetweenRoyalAholdandEnron.

2TheAholdscandalindicatesthatcorporategovernanceandaccountingproblemsareuniversalinboththeUSAandEurope.

3TheshareholdersadmiredCeesvanderHoevenbecauseheturnedAholdfromadullcompanyintoagrowthmachine.

4SomeobserversthinktheAholdscandalismoreaUSaccountingfailure.

5Mostfirmsthatbuyinbulkgetdiscountsfromsuppliersandbooktherebatepaymentswhentheywereearned.FTTTT16ReadingComprehension2Choosethebestwordstocompletethefollowingsentences.1Shareholderslostmoneywhenthecompanyfiledfor____.AfailureBsellingCbreakdownDbankruptcy2Thecompanywasinfactseriously____eventhoughitclaimedtobemakingaprofit.AondebtBindebtCintodebtDabovedebt3Somecompanies____theirearningstodriveupshareprices.AoverdoBoverflowCoverstateDoversee17ReadingVocabulary1DBC4TheFinancialServicesAuthoritywassetupintheUKtodealwith____suchasfraudandinsidertrading.AissuesBideasCreasonsDpurposes5Whenyoubuyinbulk,youcanobtain____orrebates.AdiscountsBsalesCdecreasesDinterest6Whentheyheardaboutourfinancialdifficulties,our____askedtobepaidinadvance.AcustomersBinvestorsCsuppliersDauditors18ReadingVocabularyAACMatchthewordsinColumnAandColumnBtomakepropercollocations.SomeofthewordsinColumnAcanhavemorethanonematch.ColumnAColumnB1_____2_____3_____4_____19ReadingVocabulary2uncoverabsolvemeetoverstateAprofitsBresponsibilitiesCproblemsDsalestargetsCBB,DA,CCompletethefollowingsentenceswithcollocationsfromexercise2.Changetheformwherenecessary.Thecompanyexpectsto_______its____________ofsellingmorethan2millionvehiclesgloballythisyear.Foodimportersandmanufacturerssaidtheytrustedthesupplier’scertificatesissuedbytheauthorities.Butthisdoesnot_________themof______________tocheckthequalityoftheingredientstheyimported.Tescoannouncedithad___________its________forthefisthalfoftheyearby￡263m,slightlyhigherthanthe￡250moriginallyestimatedwhenthecompanywashitbyanaccountingscandal.Theinvestigation______________________withthecompany’saccountingpractices.20ReadingVocabulary3meetsalestargetabsolveresponsibilitiesoverstatedprofitsuncoveredproblemsDoyouthinkCEOswhofalsifyaccountsarecriminalsandshouldgotojail,orisitanacceptablerisktofalsifyaccountsifithelpstosafeguardthecompany’sfuture?Supportyouropinionwithreasonsorexamples.21ReadingSpeakingItisagainstthelaw.Itisanacceptablerisk.Lookatthefollowingbalancesheetandworkoutthefiguresintheblanks.22BIZknowledgeBalancesheetABCCompanyBalanceSheetasat13MayASSETSCurrentAssetsCash$20,000Accountsreceivable$15,000Inventories$150,000TotalCurrentAssets$_______185,00023BIZknowledgeBalancesheetASSETSFixedAssetsPlantandequipment$50,000Businesspremises（經(jīng)營場地）$650,000Vehicles$70,000TotalFixedAssets$770,000TotalAssets$_______955,00024BIZknowledgeBalancesheetLIABILITIESCurrentLiabilitiesAccountspayable$25,000Bankoverdrafts$10,000Taxliabilities$30,000TotalCurrentLiabilities$65,000Long-termLiabilitiesBusinessloan1$450,000Businessloan2$50,000TotalLong-termLiabilities$500,000TotalLiabilities$_______565,000OWNER’SEQUITY$_______390,000OtherearningsGainsonfixedassetsandoperations2502342___________________oninvestments1751621_________________(salesrevenue)700704StudytheincompleteP&Lbelow.Completethedocumentwiththefollowingheadings.ConsolidatedProfitandLossfortheyearendedDec31in$m25Listening&SpeakingListening11ResearchanddevelopmentcostsCostsofmaterialsGrossprofitInterestreceivableTurnoverDividendInterestreceivableTurnoverForecastActualTrading/Operatingprofit525F______Profitforshareholders(6____________)95G______Retainedprofit430H______OthercostsandexpensesIndirectcostsoroverheads25225____________________________50D_____Lossonfixedassets2525Lossonforeignoperations10088Marketinganddistributioncosts100E______Costsofmakinggoods3_______________andallmanufacturingexpenses100A____Salariesandpersonnelcosts200B____4_______________825C____26Listening&SpeakingListening1CostsofmaterialsGrossprofitResearchanddevelopmentcostsDividendTrading/Operatingprofit525F______Profitforshareholders(6____________)95G______Retainedprofit430H______OthercostsandexpensesIndirectcostsoroverheads25225____________________________50D_____Lossonfixedassets2525Lossonforeignoperations10088Marketinganddistributioncosts100E______Costsofmakinggoods3_______________andallmanufacturingexpenses100A____Salariesandpersonnelcosts200B____4_______________825C____ListentoapresentationoftheactualresultsandcompletethemissingfiguresforblanksA-H.27Listening&SpeakingListening12701908407512350795412CostsofmaterialsGrossprofitResearchanddevelopmentcostsDividendListenagainandcompletetheanswerstothefollowingquestions.1Whywasgrossprofithigherthanexpected?OutsourcingtoIndonesiawasmore___________thanexpected.2Whatisexpectedtohappentothemarketingbudgetinfuture?Itwill_______________overthenextquarters.3Howmuchwillshareholdersreceivepershare?_____cents.4Whatpredictiondoesthespeakermakeaboutretainedprofit?Itwill____________________overthenextquarters.28Listening&SpeakingListening13cost-effectivefalldrastically50increaseconsiderablyIfyouwereapotentialshareholder,wouldyoufeelconfidentofinvestinginthiscompany?Why?/Whynot?29Listening&SpeakingListening14Companiessometimesmakethefiguresinfinancialdocumentsmoreattractivethantheyreallyare.Theycandothisby:Ainventingrevenuefromcompaniesthatdon’texistBnotincludingdebtsofsubsidiariesandacquisitionsCoverstatingcurrentprofitsbyincludingpossiblefutureearningsListentotwoinvestorstalkingaboutwhathappenedtothemwhentheyinvestedintwomediacompanies.Whichoftheabovemethodswereusedtodriveupsharepricesineachcase?NavTech:______Com.TV:______30Listening&SpeakingListening21ABListenagainandcompletethegraphsaboutthesharepricesofthetwocompanies.31Listening&SpeakingListening12CultureatworkCareerskillsDilemma&Decision213DoBusinessVisualaidssuchastables,graphs,barcharts,piechartsandflowchartsareanimportantpartinpresentationsthatincludealotofstatistics.Thefollowingphrasesareusefulfordrawinglisteners’attentiontoparticularvisuals.

Asyoucansee,…You’llnoticethat…Thispartofthegraphclearlyshows……ledtothe…youseehere……isobviousonthispartofthegraphhere.Thisslideshows…33ReadingCareerskillsReferringtovisualsBusinessinpracticeLookatthegraphshowingtheperformanceoftheWorldComshareprice1992-andusetheexpressionsonitsrighttodescribethetrends.Thenlistenandcompareyourdescriptionwiththespeaker’s.reachedarecordhighnosedivedtoanall-timelowcontinuedtoskyrocketstartedaspectacularascensiontherewasadownturn34ReadingCareerskills1Referringtovisuals(1999)()(1995to1998)(1992to1995)Workinpairs.StudentAturnstopage114.StudentBlooksatthebarchartbelowwhichshowstheAmericansalesoftheItalianfoodgiantParmalat,whichwentbankruptinwithdebtsof€14bn.DescribetheAmericansalestoyourpartner,usingtheexpressionsofreferringtovisualsanddescribingtrends.ThenlistentoyourpartnerandcompletetheEuropeansales1996-.35ReadingCareerskills2Referringtovisuals36ReadingCareerskillsReferringtovisualsStudentALookatthebarchartshowingtheEuropeansalesoftheItalianfoodgiantParmalat,whichwentbankruptinwithdebtsof€14bn.ListentoyourpartnerandcompletetheAmericansalesfor1996-.ThendescribetheEuropeansalestoyourpartner,usingtheexpressionsofreferringtovisualsanddescribingtrends.WatchSection3ofPart2.MatchthefollowingvisualswiththetitlesA-C.ThennumberthemintheorderthatJamietalksaboutthem.37ReadingBusinessinpracticeDealwithproblems338ReadingBusinessinpracticeDealwithproblems___Title___Order___Title___Order___Title___OrderTitles:AcustomersatisfactionBquotesCmarketshareCAB231Matchtheexpressions1-5withthethingsA-FthatJamieisdescribing.Youwillneedtouseoneexpressiontwice.

1nosignificantdifferencethere

2again,theywereverysimilar

3

slightlyinfront

4cameontothemarketintheshortesttime

5theonetoturntowhenthescheduleistightA

CrowneandAnimex’spricesBCrowneandAnimex’scustomersatisfactionsurveysCFourproductsproducedwithpartsorprocessessuppliedbyCrowneDCrowneE

AnimexFCrowneandAnimex’smarketshareCFB39ReadingBusinessinpracticeDealwithproblemsDD440ReadingCultureatworkHowmuchexplanation?Accordingtoyourexperience,didyouinvolvealotofdetailsoruseanyextramaterialswhenyouhavetoexplainsomethingtoothers?Howdidthelistenersreact?Warm-upInsomecultures,peopleliketousealotofdetailstopresentinformation.TheythinkitisimportantInothercultures,peoplethinkthattheaudienceonlyneedalittleexplanationtohelpthemtounderstand.41ReadingCultureatworkHowmuchexplanation?AlittleAlotYouliketocommunicatefast.Youdon’tneedalotofwordstosaywhatyoumean.Youliketobeclear.Youusealotofwordstosaywhatyoumean.Youusevisualstoillustratewhatyousay.Whenyouusevisuals,youprefertoexplainindetailwhattheinformationmeans.Youdon’tspendtoomuchtimeintroducingbackgroundinformation.Yougivebackgroundinformationtohelptheaudiencetounderstand.42ReadingCultureatworkHowmuchexplanation?Whatiscommoninyourcountrywhenmakingpresentations?43ReadingCultureatworkHowmuchexplanation?MultiBrandsisagloballysuccessfulconsumerproductscompany,whichhasbuiltupareputationbasedon“Honesty,QualityandInnovation”.Sinceitstartedoperatingtenyearsago,ithaslaunchedatleasttwonew,high-qualityproductsindifferentmarketseveryyear.However,managersarecurrentlyreviewingcompanypolicybecauseofarecentdramaticfallinprofitsandsharepriceperformance.Shareholdersbelievethatthisisduetoover-diversification,risingcostsandfailingconsumerconfidenceasaresultofcomplaintsthatproductqualityisdeclining.Brief44ReadingDilemma&DecisionDilemma:CountingthecostsShareholders’recommendationsare:freezecurrentpolicyofdevelopingnewproductsandconcentrateonconsolidatingcurrentsuccessfulbrandsimprovequalityreducepricesfreezerecruitmentbutavoidlayoffsreducecurrentbudgetby15percentBrief45ReadingDilemma&DecisionDilemma:CountingthecostsIngroups,studytheinformationonpage112anddiscusswherebudgetcutsandreallocationscouldbemadeinordertoachievea15percentreductionintotaloperatingcosts.Consideralltheaboveshareholders’recommendationsbeforemakingafinaldecision.Task146ReadingDilemma&DecisionDilemma:Countingthecosts47ReadingDilemma&DecisionDilemma:Countingthecosts2Productionoperatingcosts3SalesandmarketingcostsPresentyourbudgetproposalwiththehelpofthevisualaids.Task248ReadingDilemma&DecisionDilemma:CountingthecostsWritingguideSummariseyourproposalinashortreport.Includevisualaidstohelpillustrateandsupportyourideas.Writeitup49Dilemma&DecisionDilemma:CountingthecostsListentoWilliamGrangefromInternationalConsultantssayingwherehewouldmakethenecessarybudgetadjustmentsandcuts.50ReadingDilemma&DecisionDecisionShortreportsareusedtosummariseinformationthathastobecommunicatedtopeopleinsideoroutsideanorganisation.Theyaredesignedtoprovideanoverviewwhichcanbereadandassimilatedquickly.Althoughthelengthofashortreportwillvarydependingontheamountofinformationandcommentarythatitcontains,mostshortreportswillbebetweenoneandsixpageslong.Shortreportsmayalsoincludegraphicmaterialandareoftenusedasthebasisforanoralpresentation.ReadingWritingguideShortreports51Titlepage—i