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Banking, finance and accounting

13.8.2018, , Zdroj: Verlag Dashöfer

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Banking, finance and accounting

Edward Thomas

1. BANKING

Look at the table below. Can you find the antonym-type words and phrases that are commonly used in the banking sector? Find the correct spaces, and the correct forms, for these words in the sentences below it. (some may be only forms of these words eg. credited – past form of verb).


1) Credit (vb) i) Deposit
2) Save (vb) ii) Debit
3) Current account / checking account iii) Overdraft
4) Invest iv) Lend
5) Withdraw v) Savings account
6) Borrow vi) Squander
7) Assets (n) vii) Divest
8) Savings (n) viii) Liabilities

Correct answers are here1

A) Billy was surprised to find that his …………………………… …………………………… had been …………………………… with €100,000 more than he expected. His employers had made a mistake with his monthly wage.

B) Each month I …………………………… about € 2,000 into my account, but I …………………………… about the same amount

C) I want to …………………………… some money in a new business. I'll …………………………… some from my friends and some from my bank.

D) Banks …………………………… money to customers at certain rates. Sometimes they agree a borrowing limit when an account is opened called an …………………………….

E) When you are thinking of investing money in a business, pay careful attention to the balance of …………………………… against ……………………………. This tells you how healthy a company's finances are.

F) British people used to …………………………… more money than they do today - these days they are encouraged to …………………………… it all to keep the economy growing though retail sales.

G) I think it would be better to put your …………………………… in a …………………………… …………………………… rather than keeping them in an old sock under your bed!

H) My investment in this company is adding so much to the …………………………… column of my portfolio of shares that I am thinking of …………………………… from it.

Correct answers are here2

2. BANKING BARBARA, THE PERSONAL FINANCE AGONY AUNT...

Read the description below from an agony aunt about personal banking. Fill in the gaps with the words in the box above. Notice the highlighted vocabulary and try to guess what it means. It will be used in the next exercise.


withdraw, credits, current account, debits, save x2, spend, savings account, save for, deposited, overdraft

Question: „Dear Barbara, I am a young person who wishes to open a bank account for the first time, because I'm nervous about where to keep the money I am getting for my part-time job. Please tell me what to do. I am lost!”

Answer: „Don't panic! One thing I've noticed is that young people often have very different ways of dealing with the first money they earn. When I was young, I and my friends used to earn money from little jobs like babysitting. Some of my friends couldn't wait to go shopping and 1. …………………………… all their money as soon as they had it.

Others were very disciplined and 2. …………………………… every penny they made. I like to think that I found a good approach when I opened my own 3. …………………………… …………………………… while at secondary school. (Actually, I already had a special 4. …………………………… …………………………… that my grandparents had opened for me when I was born. I put birthday and Christmas gifts from them and other relatives into this account to 5. …………………………… for special purchases, like a new computer. All or part of my baby-sitting earnings could be 6. …………………………… directly into my new account.

I really enjoyed managing my own money. Because of the bank account, I found I was more likely to 7. …………………………… a larger amount of my earnings.

If you like the idea of starting your own bank account, the first thing to do is call around to your local banks, or visit their websites. Most of them have accounts that do not charge monthly i) maintenance fees. Try to find a bank without ii) charges for iii) withdrawals you also need to decide how much you will deposit in the bank every month.

Another thing you need to look at is whether you need to keep a minimum iv) balance in the account – for example €100 to avoid maintenance fees.

If you're older, and living away from home, for example at university, you should also see if the account offers an 8. …………………………… v) facility, and if so, is it free?

While you're doing this, you can try to find an account which pays a reasonable amount of vi) interest. This can be difficult when you open a current account, as these offer very little interest. Savings accounts though may not let you access your money quickly.

When you open your account, you should make sure you receive a vii) debit card, ix) cheque book, and a book of x) paying-in slips. You will receive a xi) pin number which you will need to memorise. You can change it to something memorable, like your first pet's name, or something!

These days, you will also receive a password for an internet site where you can check your balance at any time. You can do a lot of things by internet now- depending on your bank's level of modernisation. The one thing you should make sure is that you learn the location of a few xii) cashpoints, so that you can 9. …………………………… money in cash form quite easily. Oh, and don't forget to look out for your detailed monthly xiii) statement which details all the 10. …………………………… and 11. …………………………… to and from your account, which can make interesting and important reading!

That's really all you need to know at present. Happy personal banking!”

Correct answers are here4

3. (NON-) COMMUNICATION LEAFLET

You receive a leaflet from the bank, and in it the terminology of their service is explained. The language is the same as that used by „Banking Barbara”. Unfortunately the printers mixed the definitions up. Can you put them back into the correct order?


1) Maintenance fees a) Every month we add a little money to your account because we invest the money so that it makes more money.
2) (Transaction) charges b) Every month we take a little bit of money from your account because we have to pay to keep it working properly.
3) Withdrawals c) Every month we'll send you a letter which tells you what you've spend and what you've put into the account. You can use it to see whether you're saving anything or whether you're near to zero in your account!
4) Balance d) This is a secret number which you can use to access your account, especially to withdraw money.
5) Overdraft facility e) At the end of each month this is what you will really be interested in! You should make sure it's a number close to what you expected, and if it isn't you should contact us to make sure nothing has gone wrong in the calculations for your account.
6) Interest f) This is the money that is paid every time money is withdrawn from your account. It's not much, but it's necessary to help keep our system running properly.
7) Debit card g) We'll give you a little book so that you can record the times when you pay in money to your account.
8) Paying-in book h) When you start banking with us you will have an automatic limit of €100- if you are a student and want to increase this amount, you should organise to meet one of our many fine advisors at the bank itself.
9) Cheque book i) We'll issue you with a card which means that you can take money in cash from our many cash points. You can also use it to pay in shops and the money will go from your account to the shop's account electronically!
10) Pin number j) You will receive a little book with slips of paper which you can use to pay in shops or send safely by post.
11) Cash point k) We´ll give you a little book so that you can record the times when you pay in money to your account.
12) Statement l) The times when you take money from your account - there should be a list of these, with times, dates and locations, on your monthly bank statement.

Correct answers are here5

4. FINANCE

So far we've talked just a bit about banking, now we're going to talk about the financial markets, also known as stock exchanges.

First we'll expand or refresh our vocabulary a little bit. Find the synonyms for the words below. Remember they may not really be synonyms, but are sometimes used in similar ways.


A) Financial markets 1) Securities
B) Traders 2) Speculators
C) Shares 3) Footsie 100
D) Index 4) Equity holder
E) Bonds 5) Stocks
F) Investors 6) (First) sale of shares
G) Yields 7) Stock markets
H) Initial Public Offering 8) Capitalisation
I) Shareholder 9) Dealers
J) Value 10) Dividends

Correct answers are here6

5. FINANCE PROGRAMME ON TV

The sentences below could come from a finance programme on TV. Can you fill the gaps? There are 20 gaps, so all the words are used.


Bonds, yields, market capitalisation, FTSE 100, first share offer, shares, financial markets, dealers, traders, speculators, investors, stockmarkets, shareholders, equity holders, bonds, securities, dividends, yields, IPO, index

1. Their shares have been giving healthy …………………………… of over €1.50 each year for five years.

2. Government …………………………… are usually thought to be safe investments.

3. …………………………… are to meet to discuss the actions of their company's board.

4. The …………………………… …………………………… have been falling rapidly today.

5. Share prices have been pushed higher by enthusiastic …………………………….

6. …………………………… don't have long careers- they usually move to safer jobs by the age of 35.

7. It's our …………………………… …………………………… …………………………… …………………………… As a partner in the company, I'm hoping to make a lot of money.

8. …………………………… in CET have fallen dramatically in value recently.

9. The …………………………… of our company of course changes when its shares fall.

10. The …………………………… of top 100 companies is still very positive today.

11. …………………………… will be very low this year- the company needs to invest in its business.

12. The Government is making …………………………… available to increase market liquidity.

13. …………………………… …………………………… are very worried about the profit warning their company has given.

14. In general, …………………………… …………………………… are relaxed about the news and have not fallen.

15. The uncertainty in the market is not positive for …………………………….

16. …………………………… can be paid a lot but only if they have good results.

17. An …………………………… in a poor market can actually lose money for a company.

18. …………………………… in CET improved after news of their good financial year was announced.

19. They believe their …………………………… …………………………… is about $4bn.

20. The …………………………… is very positive today.

Correct answers are here7

6. TERRY THE TRADER

Read what Terry has to say about his job. Use the words in the box to fill the gaps.


derivative, commodities, insurance, bonds, hedging, money markets, hedgefunds, futures, currency

„Me? The name's Terry. Terry the trader. Some people think that working in the world's markets is all about money- well, it is. If it wasn't all about money though it would still be an interesting business.

Look, there are so many types of market out there: if you become an expert in coffee and tea you'll be useful in the 1. …………………………… market. If you know a lot about national economies, maybe the 2. …………………………… market could be for you. This is not for nervous people though- sometimes some currency has what they call a

 
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