Section 65 Finance and Accounting Meetings

Section 65 Finance and Accounting Meetings

 

A : Basic ｅxpressions

- budget → The project has been budgeted at $3 million. → go over budget(예산초과) → be on a tight budget(예산이 빠듯하다)

  within budget(예산범위 내)

- underestimate → The marketing budget is underestimated.

- audit → auditor

- financial problems → financial difficulties, financial crisis, financial straits.

- get approval from → ask [apply for] someone's approval.

- cut back on expenses = reduce costs

- expenditure → submit the expenditure from.

- capital = funds → source of capital

B : Key sentences

- Can we increase the advertisement budget?

- We have budgeted $300,000 to [develop new products for the Research& Development Department]

  [ establish a database management system / advertise new products / train new employees ]

→ We underestimated it by too much. → There must be approval to go over the budget.

C : Key Dialog

- The marketing Department is requesting additional funds for its budget. → We should get approval from the financial director first.

- The accountant will audit our financial records soon.→ let's finish reviewing the papers by today.

- Our company is facing financial problems. → We need to cut back on expenses.

- We need to order extra equipment. → Please submit the expenditure from for approval.

- How much of the budget should be allocated to product marketing? → The company has budgeted $5 million on advertising.

- Did you finish checking the marketing budget plan? → Yes, I think the marketing budget is underestimated.

- We don't have sufficient funding to support that project. → We should seek new source of capital.

D : Office Talk

- Did you finish analyzing the capital structure? → I need to recheck the proportion of cash, but it's almost done.

- (After checking the capital structure) What's going on? We have too much short-term debt.

- Don't be too concerned about the company's financial situation. It's only a temporary situation.

→ Use sales forecasts, predict the potential return on investment, and seek sources of capital. We'd better hurry.

   Otherwise, the acquisition of the MT Company won't proceed as expected.

E : Further Study

- What are the main functions of the Financial Department? → We need to [ prepare the payroll and pay the staff their salaries. ]

 [ monitor departmental budgets to check that the managers are not overspending / issue regular budget reports to all departmental managers

  / prepare cash flow forecasts for senior managers / provide information about our financial performance for our stockholders. ]