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Менеджмент Developing the financial plan
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The Basis of Financial Management

Переведите текст устно. Пользуйтесь словарем из задания 3, грамматическими

Чтение текста

пояснениями из заданий 7, 8. Найдите и переведите предложения:

    1. с условными и временными придаточными в абзацах № 1, 2, 3;
    2. с бессоюзными придаточными в абзаце № 3;
    3. с герундием в абзацах № 1, 2, 3, 4, 5;
    4. с причастием I в абзацах № 1, 2;
    5. с модальными глаголами в абзацах 3, 4, 5, 6.

Пояснения к тексту.

Planners can deter­mine whetherthey must seek…

Планирующие бюджет могут определить, должны лиони искать…

Like any other plan… – подобно любому плану…

In addition – кроме того…

over a speci­fied future period – на определœенный (конкретный) будущий период)

throughout the period – на протяжении всœего периода

It might be used – он мог бы быть использован…

Either…or – либо (тот) либо (другой)

neither…nor – ни (тот) ни (другой)

therefore - следовательно

a means of – средство чего-либо

weekly, monthly, or quarterly budget – бюджет на неделю, месяц, квартал

The basis of financial management is a financial plan. It is a plan for obtaining and using the money needed to implement an organization’s goals. When a financial plan is developed and put into action, the firm’s performance will be monitored and evaluated. And, like any other plan, it will be modified if necessary. Planners must make sure that financing needs are realistic and that sufficient funding is available to meetthose needs.

Establishing organizational goals and objectives

  Budgeting the money needed to accomplish the goals and objectives

  Identifying available sources of financing
Sales revenue Equity capital Debt capital Sale of assets

Establishing organizational goals and objectivesis an important management task. A goal is an end state that the organization wants to achieve. Objectives are specificstatements detailing what the organization intends to accomplish within a certain period of time. If goals and objectives are measurable and realistic it will be possible to finance and achieve them.

Budgeting for Financial Needs.A budgetis a financial statement that projects income and/or expenditures over a speci­fied future period of time. Once planners know what the firm’s goals and objectives are for a specific period of time – say, the next calendar year- they will estimate the various costs the firm will incur and the revenues it will receive. By combining these items into a companywide budget, financial planners can deter­mine whether they must seek additional funding from sources out­side the firm.

Usually the budgeting process begins with the construction of individual budgets for sales and for each of the various types of expenses: production, human resources, promotion, administra­tion, and so on. Budgeting accuracy is improved when budgets are first constructed for individual departments and for shorter peri­ods of time. These budgets can easily be combined into a companywide cash budget. In addition, departmental budgets can help managers monitor and evaluate financial performance throughout the period covered by the overall cash budget.

Available Sources of Financing.Sales revenueis the first type of funding. The second type is equity capital, which is money received from the sale of shares of ownership in the business. Equity capital is used almost exclusively for long-term financing. It might be used to start a business and to fund expansions or mergers. The third type of funding is debt capital, which is money ob­tained through loans. Debt capital may be borrowed for either short- or long-term use.

The fourth type of funding is the sale of assets.A firm gener­ally needs assets for its business

opera­tions, therefore, selling assets is a drastic step. It may be a reasonable last resort when neither equity capital nor debt capital can be found.


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