Банковское дело реферат на английском
Обновлено: 02.07.2024
The following story is going to explain the role of banks. In the past most societies used different objects as money. Some of these were valuable because they were rare and beautiful, others- because they could be eaten or used. Early forms of money like these were used to buy goods. They were also used to pay for marriages, fines and debts. But although everyday objects were extremely practical kinds of cash in many ways, they had some disadvantages, too. For example, it was difficult to measure their value accurately, divide some of them into a -wide range of amounts, keep some of them for a long time, use them to make financial plans for the future. For reasons such as these, some societies began to use another kind of money, that is, precious metals.
People used gold, gold bullion, as money. Those were dangerous times, and people wanted a safe place to keep their gold. So they deposited it with goldsmiths, people who worked with gold for jewellery and so on and also had a guarded vault to keep it safe in.And when people wanted some of their gold to pay for things with, they went and fetched it from the goldsmith.
Two developments turned these goldsmiths into bankers. The first was that people found it a lot easier to give the seller a letter than it was to fetch some gold and then physically hand it over to him. This letter transferred some of the gold they bad at the goldsmith's to the seller. This letter we would nowadays call a cheque. And, of course, once these letters or cheques, became acceptable as a way of paying for goods, people felt that the gold they had deposited with the goldsmith, was just as good as gold in their own pockets. And as letters or cheques, were easier to carry around than gold, and a lot less dangerous, people started to say that their money holdings were what they had with them plus their deposits. So a system of deposits was started. The second development was that goldsmiths realized they had a great deal of unused gold lying in their vaults doing nothing. This development was actually of greater importance than the first.
Now let's turn to the first bank loan ever and see what happened. A firm asked a goldsmith for a loan. The goldsmith realized that some of the gold in his vault could be lent to the firm, and of course he asked the firm to pay it back later with a little interest. Of course, at that moment the goldsmith was short of gold, it wasn't actually his gold, but he reckoned it was unlikely that everyone who had deposited gold with him would want it back at the same time, at any rate - not before the firm had repaid him his gold with a little interest. He thought it safe enough.
To understand what actually happened in this simple transaction let's consider the following table.
Таbl.
6. Goldsmiths as bankers
1. Old-fashioned goldsmith
3. Deposit lender Step 1
4. Deposit lender Step 2
продолжение
--PAGE_BREAK--Gold $100
Gold $90 + loan 10 Gold $l00 + loan $10 Gold $90+loan $10
--PAGE_BREAK--Assets
Liabilities
Sterling: Cash Bills and market loans
Lending in other currencies Miscellaneous assets
TOTAL ASSETS
Sterling: Sight deposits
Time deposits
Deposits in other currencies Miscellaneous liabilities TOTAL LIABILITIES
54,1
Cash assetsare notes and coin in the banks' vaults. However, modem banks' cash assets also include their cash reserves deposited with the Bank of England. The Bank of England (usually known as the Bank) isthe central bank or banker to the commercial banks.
Apart from cash, the other entries on the asset side of the balance sheet show money that has been lent out or used to purchase interest-earning assets. The second item,bills and market loans, shows short-term lending in liquid assets.
Liquidityrefers to the speed and the certainty with which an asset can be converted back into money, whenever the asset-holders desire. Money itself is thus the most liquid asset of all.
The third item,advances, shows lending to households and firms. A firm that has borrowed to see it through a sticky period may not be able to repay whenever the bank demands. Thus, although advances represent the major share of clearing bank lending, they are not very liquid forms of bank lending. The fourth item,securities, shows bank purchases of interest-bearing hug-term financial assets. These can be government bonds or industrial shares. Although these assets are traded daily on the stock exchange, so in principle these securities can be cashed in any time the bank wishes, their price fluctuates from day to day. Banks cannot be certain how much they will get when they sell out. Hence financial investment in securities is also illiquid.
The final two items on the asset side of the balance sheet showlending in foreign currencies andmiscellaneous bank assets. Total assets of the London clearing banks were £200,1 billion. We now shall examine how the equivalent liabilities were made up.
Deposits are chiefly of two kinds: sight deposits and time deposits. Whereas sightdeposits can be withdrawn on sight whenever the depositor wishes, a minimum period of notification must be given beforetime deposits can be withdrawn. Sight deposits are the bank accounts against, which we write cheques, thereby running down our deposits without giving the bank any prior warning. Whereas most banks do not pay interest on sight deposits or cheque(checking) accounts, they can afford to pay interest on time deposits. Since they have notification of any withdrawals, they have plenty of time to sell off some of their high- interest investments or call in some of their high-interest loans in order to have the money to pay out deposits.
Certificates of deposit (CDs)are an extreme form of time deposit where the bank borrows from the public for a specified period of time and knows exactly when the loan must be repaid. The final liability items in Таbl. 7 show deposits in foreign currencies, miscellaneous liabilities, such as cheques, in the process of clearing.
VOCABULARY NOTES
a financial intermediary-финансовый посредник
to bring together -соединять, сводить вместе
insurance companies -страховые компании
pension lands -пенсионные фонды
the money stock -денежная масса, деньги в обращении
to issue deposits -открывать вклады
the National Girobank -англ.Национальный жиробанк
trustee saving banks -доверительные сберегательные банки
London clearing banks -лондонские клиринговые банки (банки-члены расчетной палаты)
a central clearing house -центральная расчетная палата
inter-bank accounts -межбанковские счета
Barclays -Барклайз банк (Великобритания)
Lloyds -Ллойдз банк (Великобритания)
to credit -кредитовать
to debit -дебетовать
chequerecipient -получатель чека
cash assets -денежные активы
the Bank of England -Банк Англии, Английский банк
interest-earning(syn.interest-bearing) assets -активы, приносящие процентный доход
bills and market loans -векселя и рыночные займы
short-term lending -краткосрочное кредитование
liquid(ant.illiquid) assets -ликвидные активы
liquidity — ликвидность
advances -ссуда в вида аванса
a sticky period -трудный период
securities -
ценные бумаги
interest-bearing long-term financial assets -долгосрочные финансовые активы, приносящие процентный доход
government bonds -государственные облигации
industrial shares -промышленные акции
the stock exchange -
фондовая биржа
niscellaneousbank assets -прочее имущество банка
sight deposit -депозит до востребования; бессрочный вклад
time deposit -срочный вклад
to withdraw -отзывать (вклад)
to run down a deposit -уменьшать вклад
cheque(checking) accounts -текущий (чековый) счет
to sell off -распродавать
cad in high-interest loans -требовать возврата займов (требовать уплаты процентов)
certificates of deposit -депозитные сертификаты
miscellaneous liabilities'прочие (другие) пассивы
1. GENERAL DEFINITION OF ACCOUNTING
Today, it is impossible to manage a business operation without accurate and timely accounting information. Managers and employees, lenders, suppliers, stockholders, and government agencies all rely on the information contained in two financial statements. These two reports — the balance sheet and the income statement — are summaries of a firm's activities during a specific time period. They represent the results of perhaps tens of thousands of transactions that have occurred during the accounting period.
Accounting is the process of systematically collecting, analyzing, and reporting financial information.The basic product that an accounting firm sells is information needed for the clients.
Many people confuse accounting with bookkeeping. Bookkeeping is a necessary part of accounting. Bookkeepers are responsible for recording (or keeping) the financial data that the accounting system processes.
The primary users of accounting information are managers. The firm's accounting system provides the information dealing with revenues, costs, accounts receivables, amounts borrowed and owed, profits, return on investment, and the like. This information can be compiled for the entire firm; for each product; for. each sales territory, store, or individual salesperson; for each division or department; and generally in any way that will help those who manage the organization. Accounting information helps managers plan and set goals, organize, motivate, and control. Lenders and suppliers need this accounting information to evaluate credit risks. Stockholders and potential investors need the information to evaluate soundness of investments, and government agencies need it to confirm tax liabilities, confirm payroll deductions, and approve new issues of stocks and bonds. The firm's accounting system must be able to provide all this information, in the required form.
2. THE BASIS FOR THE ACCOUNTING PROCESS
The basis for the accounting process is the accounting equation.It shows the relationship among the firm's assets, liabilities, and owner's equity.
Assetsare the items of value that a firm owns —'cash, inventories, land, equipment, buildings, patents, and the like.
Liabilitiesare the firm's debts and obligations — what it owes to others.
Owner's equityis the difference between a firm's assets and its liabilities — what would be left over for the firm's owners if its assets were used to pay off its liabilities.
The relationship among these three terms is the following:
Owners' equity = assets — liabilities
(The owners' equity is equal to the assets minus the liabilities)
For a sole proprietorship or partnership, the owners' equity is shown as the difference between assets and liabilities. In a partnership, each partner's share of the ownership is reported separately by each owner's name. For a corporation, the owners' equity is usually referred to as stockholders ' equity or shareholders ' equity. It is shown as the total value of its stock, plus retained earnings that have accumulated to date.
By moving the above three terms algebraically, we obtain the standard form of the accounting equation:
Assets = liabilities + owners' equity
(The assets are equal to the liabilities plus the owners' equity)
3. A BALANCE SHEET
A balance sheet (or statement of financial position)
,
is a summary of a firm's assets, liabilities, and owners' equity accounts at a particular time,showing the various money amounts that enter into the accounting equation. The balance sheet must demonstrate that the accounting equation does indeed balance. That is, it must show that the firm's assets are equal to its liabilities plus its owners' equity. The balance sheet is prepared at least once a year. Most firms also have balance sheets prepared semi-annually, quarterly, or monthly.
4. AN INCOME STATEMENT
An income statement is a summary of a firm's revenues and expenses during a specified accounting period.The income statement is sometimes called the statement of income and expenses. It may be prepared monthly, quarterly, semiannually, or annually. An income statement covering the previous year must be included in a corporation's annual report to its stockholders.
5. THE IMPORTANCE OF THE ABOVE TWO STATEMENTS
The information contained in these two financial statements becomes more important when it is compared with corresponding information for previous years, for competitors, and for the industry in which the firm operates. A number of financial ratios can also be computed from this information. These ratios provide a picture of the firm's profitability, its short-term financial position, its activity in the area of accounts receivables and inventory, and its long-term debt financing. Like the information on the firm's financial statements, the ratios can and should be compared with those of past accounting periods, those of competitors, and those representing the average of the industry as a whole.
A bank is a financial company that deals with money, securities and precious metals. If you need a certain amount of money, you can come to the bank and apply for a cash loan. After the bank approves your application, a contract is concluded between the client and the bank in which all conditions are stipulated. Loans are short-term or long-term, and are issued at a certain percentage. The client is given a schedule, according to which he must pay a fixed amount of money every month. This amount includes the loan itself, and the interest for using money. The client can also repay the loan in full with a one-time payment, thereby reducing the interest rate. Banks give their customers plastic cards, from which ATMs can always and everywhere withdraw the required amount. Plastic cards can also pay for any purchases or services. Banks can provide money not only to individuals, but also to huge companies, industries.
Also people in banks can store their savings. The bank not only protects other people's money, but also pays interest to its depositors for the right to use this money. When the depositor needs to withdraw the entire amount from his account, he comes to the bank and receives the money deposited.
For any bank it is very important to earn an excellent reputation and try to keep it. The quality of the bank's work will depend on the number of depositors and other customers wishing to avail themselves of banking services.
Without banks, any economy can not develop. Investors will remain without money, and will not be able to implement their projects. Such industries as engineering, agriculture, chemical industry, mining and forestry, will not be able to successfully develop and progress.
Банк - это финансовая компания, которая имеет дело с деньгами, ценными бумагами и драгоценным металлом. Если вам необходима определенная сумма денег, вы можете прийти в банк и подать заявку на выдачу денежного кредита, ссуды или заёма. После того, как банк одобряет вашу заявку, между клиентом и банком заключается договор в котором оговариваются все условия. Кредиты бывают краткосрочные или долгосрочные, и выдаются под определённый процент. Клиенту выдаётся график, согласно которому он каждый месяц должен выплачивать установленную сумму денег. Эта сумма включает в себя сам кредит, и процент за использование деньгами. Клиент также может погасить кредит полностью единовременной выплатой, тем самым снижая процентную ставку. Банки выдают свои клиентам пластиковые карты, с которых с помощью банкоматов можно всегда и везде снимать необходимую сумму. Пластиковыми картами также можно оплачивать любые покупки или услуги. Банки могут предоставлять деньги не только физическим лицам, но и огромным компаниям, производствам.
Также люди в банках могут хранить свои сбережения. Банк не только защищает чужие деньги, но и платит проценты своим вкладчикам за право пользования этими деньгами. Когда вкладчику потребуется снять со своего счёта полностью сумму, он приходит в банк и получает отданные на хранение деньги.
Для любого банка очень важно заработать превосходную репутацию и стараться ее сохранять. От качества работы банка будет зависеть число вкладчиков и других клиентов, желающими воспользоваться банковскими услугами.
Без банков любая экономика не сможет развиваться. Инвесторы останутся без денег, и не смогут реализовывать свои проекты. Такие отрасли как машиностроение, сельское хозяйство, химическая промышленность, горно-добывающая, лесная, не смогут успешно развиваться и прогрессировать.
A commercial bank borrows money from the public, crediting them with a deposit. The deposit is a liability of the bank. It is money owed to depositors. In turn the bank lends money to firms, households or governments wishing to borrow.
Banks are not the only financial intermediaries. Insurance companies, pension funds, and building societies also take in money in order to relend it. The crucial feature of banks is that some of their liabilities are used as a means of payment, and are therefore part of the money stock.
Commercial banks are financial intermediaries with a government licence to make loans and issue deposits, including deposits against, which cheques can be written.
Let's start by looking at the present-day UK banking system. Although the details vary from country to country, the general principle is much the same everywhere.
In the UK, the commercial banking system comprises about 600 registered banks, the National Girobank operating through post offices, and a dozen trustee saving banks. Much the most important single group is the London clearing banks. The clearing banks are so named because they have a central clearing house for handling payments by cheque.
A clearing system is a set of arrangements in which debts between banks are settled by adding up all the transactions in a given period and paying only the net amounts needed to balance inter-bank accounts.
Suppose you bank with Barclays but visit a supermarket that banks with
Lloyds. To pay for your shopping you write a cheque against your deposit at
Barclays. The supermarket pays this cheque into its account at Lloyds. In turn, Lloyds presents the cheque to Barclays, which will credit Lloyds' account at Barclays and debit your account at Barclays by an equivalent amount. Because you purchased goods from a supermarket using a different bank, a transfer of funds between the two banks is required. Crediting or debiting one bank's account at another bank is the simplest way to achieve this.
However on the same day someone else is probably writing a cheque on a
Lloyds' deposit account to pay for some stereo equipment from a shop banking with Barclays. The stereo shop pays the cheque into its Barclays' account, increasing its deposit. Barclays then pays the cheque into its account at Lloyds where this person's account is simultaneously debited.
Now the transfer flows from Lloyds to Barclays.
Although in both cases the cheque writer's account is debited and the cheque recipient's account is credited, it does not make sense for the two banks to make two separate inter-bank transactions between themselves. The clearing system calculates the net flows between the member clearing banks and these are the settlements that they make between themselves. Thus the system of clearing cheques represents another way society reduces the costs of making transactions.
The Balance Sheet of the London Clearing Banks.
Балансовый отчет лондонских клиринговых банков
Таbl. 7 shows the balance sheet of the London clearing banks. Although more complex, it is not fundamentally different from the balance sheet of the goldsmith-banker shown in Таbl 6. We'll begin by discussing the asset side of the balance sheet.
The Balance Sheet of the London Clearing Banks.
|Assets |Јb |Liabilities |Јb |
|Sterling: Cash Bills and |2,9 |Sterling: Sight deposits |54,1 |
|market loans |34,7 |Time deposits | |
|Advances |83,0 |CDs |59,9 |
|Securities |9,4 | | |
|Lending in other |54,6 |Deposits in other |8,1 |
|currencies Miscellaneous |15,5 |currencies Miscellaneous | |
|assets |200,1 |liabilities |46,2 |
|TOTAL ASSETS | |TOTAL LIABILITIES |31,8 |
| | | |200,1|
Cash assets are notes and coin in the banks' vaults. However, modem banks' cash assets also include their cash reserves deposited with the Bank of England. The Bank of England (usually known as the Bank) is the central bank or banker to the commercial banks.
Apart from cash, the other entries on the asset side of the balance sheet show money that has been lent out or used to purchase interest- earning assets. The second item, bills and market loans, shows short-term lending in liquid assets.
Liquidity refers to the speed and the certainty with which an asset can be converted back into money, whenever the asset-holders desire. Money itself is thus the most liquid asset of all.
The third item, advances, shows lending to households and firms. A firm that has borrowed to see it through a sticky period may not be able to repay whenever the bank demands. Thus, although advances represent the major share of clearing bank lending, they are not very liquid forms of bank lending. The fourth item, securities, shows bank purchases of interest- bearing hug-term financial assets. These can be government bonds or industrial shares. Although these assets are traded daily on the stock exchange, so in principle these securities can be cashed in any time the bank wishes, their price fluctuates from day to day. Banks cannot be certain how much they will get when they sell out. Hence financial investment in securities is also illiquid.
The final two items on the asset side of the balance sheet show lending in foreign currencies and miscellaneous bank assets. Total assets of the
London clearing banks were Ј200,1 billion. We now shall examine how the equivalent liabilities were made up.
Deposits are chiefly of two kinds: sight deposits and time deposits.
Whereas sight deposits can be withdrawn on sight whenever the depositor wishes, a minimum period of notification must be given before time deposits can be withdrawn. Sight deposits are the bank accounts against, which we write cheques, thereby running down our deposits without giving the bank any prior warning. Whereas most banks do not pay interest on sight deposits or cheque (checking) accounts, they can afford to pay interest on time deposits. Since they have notification of any withdrawals, they have plenty of time to sell off some of their high- interest investments or call in some of their high-interest loans in order to have the money to pay out deposits.
Certificates of deposit (CDs) are an extreme form of time deposit where the bank borrows from the public for a specified period of time and knows exactly when the loan must be repaid. The final liability items in Таbl. 7 show deposits in foreign currencies, miscellaneous liabilities, such as cheques, in the process of clearing.
VOCABULARY NOTES a financial intermediary - финансовый посредник to bring together - соединять, сводить вместе insurance companies - страховые компании pension lands - пенсионные фонды the money stock - денежная масса, деньги в обращении to issue deposits - открывать вклады the National Girobank - англ. Национальный жиробанк trustee saving banks - доверительные сберегательные банки
London clearing banks - лондонские клиринговые банки (банки - члены расчетной палаты) a central clearing house - центральная расчетная палата inter-bank accounts - межбанковские счета
Barclays - Барклайз банк (Великобритания)
Lloyds - Ллойдз банк (Великобритания) to credit - кредитовать to debit - дебетовать cheque recipient - получатель чека cash assets - денежные активы the Bank of England - Банк Англии, Английский банк interest-earning (syn. interest-bearing) assets - активы, приносящие процентный доход bills and market loans - векселя и рыночные займы short-term lending - краткосрочное кредитование liquid (ant. illiquid) assets - ликвидные активы liquidity - ликвидность advances - ссуда в вида аванса a sticky period - трудный период securities - ценные бумаги interest-bearing long-term financial assets - долгосрочные финансовые активы, приносящие процентный доход government bonds - государственные облигации industrial shares - промышленные акции the stock exchange - фондовая биржа niscellaneous bank assets - прочее имущество банка sight deposit - депозит до востребования; бессрочный вклад time deposit - срочный вклад to withdraw - отзывать (вклад) to run down a deposit - уменьшать вклад cheque (checking) accounts - текущий (чековый) счет to sell off - распродавать cad in high-interest loans - требовать возврата займов (требовать уплаты процентов) certificates of deposit - депозитные сертификаты miscellaneous liabilities ' прочие (другие) пассивы
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What am I going to do after school or university? Maybe I should consider a job in the world of banking. There's a surprisingly wide range to choose from — for example, I could work for a high-street bank. Let us see what's what and who's who. If to take the roof off a high-street bank, one can reveal that lots of people work behind the scenes in banks. There's the clerical staff (sometimes called bank clerks), and their job includes sorting cheques, making sure that each customer receives a statement of his/ her account each month, keeping detailed up-to-date records of all bank's business.
The Enquiries, Desk. This is where you go if you need advice about the bank's services.
The Manager. This is the person in charge of the bank. She or he: (a) gives customers advice about their finances, (b) makes sure that the bank and its staff are working properly.
The Small-Business Adviser. Banks provide a wide range of services to their customers. This includes advice for people with small businesses. "How do I start a business?" "How much money can I afford to borrow?" "How do I plan ahead to make my business successful?" These are questions like these, which the small-business adviser is there to answer.
The Bank's Computer System. Modem Banks keep all their financial data in computers. This makes it possible to check and provide information at the touch of button.
The Foreign Exchange Desk. This is where you go to buy or sell foreign currency.
The Vault. Money, important documents and valuable objects (e.g. paintings, jewellery) are kept here. Vaults have very thick walls and strong, steel doors with complex locks.
Video Camera. Security is vital in banks. That's why many of them use video cameras these days. They can't stop robberies, but can film the robbers.
The Cash Dispenser Machine. You need money but the bank's closed? No problem — use the cash dispenser machine. All you have to do is: (a) put your cash-card into the machine, (b) tap in your personal identification number and the amount of money you want. A few seconds later the money appears. Thanks to machines like these, many banks are now open 24 hours a day.
The Night-Safe. Shopkeepers and business people often can't get to the bank until it's closed. What do they do with money they've earned that day? They put in the night-safe — a strong metal box in the wall of the bank, which can be unlocked with a special key.
So, money is an important part of everyday life. These days, money is hi-tech (modern, well-designed and sophisticated). We have notes and coins, which are specially made. We use credit cards. Banks and stock-exchanges can move millions at a touch of a button.
So, money is universal — but why? The answer is very simple. Without it trade would be impossible, and people in any society need to exchange goods in order to survive.
Банковское дело
1. What people work in a bank?
2. What does the job of the clerical staff involve?
3. What can you do at inquiries?
4. What does the manager do at the bank?
5. What questions does the small-business adviser answer?
6. Where can you buy or sell foreign currency?
7. Why is money universal?
cheque — чек
to be in charge of — отвечать
to borrow — брать взаймы,занимать
vault [vo:lt] — хранилище
security — безопасность
cash dispenser machine — машина по обналичиванию денег
to survive [sa'vaiv] — выживать.
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