14-Apr-2006, 17:06
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| Member | | Join Date: Nov 2004 Country: Russia
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 Banking English
- Hello everybody! Could you take a look at the following piece of writing and correct anything you think is wrong please? The piece has a lot to do with Banking English but I don't think that it'll cause any trouble for you because most of the terms referred to are often heard on TV, radio etc. Thanks a lot!
- The Board of Directors was being looked at with interest when it appeared before the depositors.
- Has the statement of account been sent for yet?
- The company’s assets and liabilities are often referred to.
- The earnings-and-cost approach is much spoken about.
- The flow-of-product approach can be relied upon.
- Mr. Grant is sure that his annual message to stockholders will be listened to with great attention.
- He was being laughed at when he said that those company’s shares were good investment.
- We hope the decrease in the returns on sales will be put to an end soon.
- The stockholders left because they couldn’t come to an understanding.
- We can’t change the conditions that have been agreed on.
–The President should be informed about the results of studying labor productivity when using an incentive bonus scheme.
-We haven’t yet received the results because the research is still being conducted.
-This research has been carried out in the “Vest” company by a group of experts of the same consultant agency. When processes of management were studied, everything was recorded with a videotape recorder. It is supposed that Mr. Vest was extremely annoyed by the results of the research.
Our stockbroker determined the rate of interest on the equities. The annual report of our investment company is reported to be reliable and the returns on sales are said to be even higher than in the previous year.
A: What I’m interested in is if there’s any reason for studying the annual report so closely.
B: The ability to read an annual report involves a lot of factors, some of which cannot be measured by data. An annual report is a message from the chairman to shareholders. An annual report informs shareholders about the financial condition of the company at the end of each financial year and plans of the administration.
A: Can I say something here?
B: Please do.
A: Having this kind of information, you can make wise decisions. Stockholders would avoid many problems if annual reports were studied closely.
B: I’d like to know some details about the structure of the annual report.
A: It’s known that the annual report is divided into two parts. The first part contains a message of the company’s administration to its stockholders and is accompanied by a chart of the main financial highlights and a survey of the organizational framework of the company.
B: Can I interrupt? Are any statistics on the company’s business activity included in this part of the annual report?
A: The second part of an annual report attracts my attention because of a large number of graphs and charts. Nevertheless, it doesn’t give a clear picture of the firm’s business activity. This part consists of a balance sheet, income statement, and cash flow statement which can show how profitable the company is.
B: The balance sheet must certainly be done very carefully.
A: Yes, of course. A balance sheet is a summary of a company’s assets and liabilities. It represents a financial condition of the company at the end of the business year.
B: Can I correct one small detail?
A: Go ahed.
B: An income statement shows a company’s revenues and expenses over a year. This table (=income statement) is used for accounting for the income received by a company from sales, interest rates and other sources.
A: Are operating costs deducted from income?
B: Operating costs generally include wage costs, advertising costs and the use of equipment. Return or loss is the result of the deduction of operating costs from total income.
Also, I have a question. I looked through a lot of definitions (for example, of income statement, annual report, balance sheet etc.) while writing/translating this piece of writing. But I couldn't understand the difference between the use of 'the' and 'a' when giving a definition. It seems like there's no difference at all  Can someone explain this to me?
For instance,
-The annual report is issued yearly by public corporations to its shareholders.
-An annual report is the annual legal statement which a business produces for its shareholders' 
Thank you very much! 
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