I. 1.Unit 17: What is the foreign exchange market?

2.Unit 19: Functions of the stock exchange.

3.Unit 20: Taxation.
II. 1.Unit 22: ustoms an! excise charges
2.Unit 2":Insurance
3.Unit 2#:What$s accounting?
III. 1.Unit 2%: Financia& statements
2.Unit 29: 'u!iting
I(. 1.Unit 32: Financia& ana&)sis
2.Unit 3": *arketing
3. Unit "0: Internationa& +usinesses
Unit 17: What is the foreign exchange market?
,efinition:
- The foreign exchange market is the market in which such national currencies as
dollars, pesos, yen, francs and others are exchanged.
- The foreign exchange market is an over-the-counter market, the primary
communications instrument being the telephone and the computer.
-o&es:
-To satisfy increasingly demand in foreign currencies of customers.
-To make profit.
-To help the foreign trading process much more simply.
Who are the .artici.ants in the foreign exchange market?
- The direct participants:
+ US commercial banks with deposits in foreign branch banks or foreign
correspondent banks, and these foreign banks.
+ Several hundred dealers.
- The ultimate participants
+ The thousands of large and small import and export firms.
+ The tourist and other travelers around the world.
+ !inancial entities such as bank, private pension.
Unit 19: Functions of the stock exchange
What is the stock exchange?
"here securities #bonds, notes, shares$ are bought and sold at prices governed by
the forces of demand and supply
Who are the .artici.ants in the stock exchange?
-%ndividuals
-&ooperation
-Stock companies
-Stock brokers
What are the functions of stock exchange?
There are ' main functions
-&ompanies can raise their capital to start or expense their businesses.
-To help the public invest idle money to make profit
Unit 20: Taxation
What is tax? T).es of taxes?
- Tax is a financial charge or other levy imposed upon a taxpayer #an individual
or legal entity$ by a state or the functional e(uivalent of a state such that failure to
pay is punishable by law.
- Some types of tax direct tax, indirect tax, progressive tax, regressive tax)
-o&es of taxes:
The main role of taxes to raise revenue to finance government expenditure
, Some other purposes +, dissuade people from smoking, drinking alcohol,)
+, help government redistribute the wealth of society.
The /a)s:
- Tax shelters: are any method of reducing taxable income resulting in a reduction
of the payments to tax collecting entities, including state and federal
governments. The methodology can vary depending on local and international
tax laws.
- Tax avoiding is the legal usage of the tax regime to one*s own advantage, to
reduce the amount of tax that is payable by means that are within the law.
- Tax evasion is the illegal evasion of taxes by individuals, corporation and trust.

U+%T ''
ustoms !uties indirect taxes levied on imports at the point of entry.
Goods can be relieved from duties in a number ways:
-Under ,& free circulation rules
-Under outward and inward processing relief procedures.
-Suspends duty on some goods which are not currently produced within the ,& or
are used in industrial research or for the handicapped.
0xcise !uties: indirect taxes levied on specific products, both imported and
domestically produced.
--oods sub.ects to excise duties are charged with these differentials when they
cross member states borders.
-Aims -encourage the consumption of domestic products
-dissuade people from some special goods and services, such as alcohol,
tobaco)
'gricu&ture &e1ies are charged which replace customs duties on product which
are covered by the &ommon /griculture 0olicy regime. They are ad.usted
annually and are highly complex.
'!1antages an! !isa!1antages of three taxes:
2 Advantages +, 1iscourage import
+, 0rovide revenue
-Disadvantages they can rarely be levied at a rate which ensures a controlled
reduction import.
Unit 24: Insurance
What is insurance?
/ contract #policy$ in which an individual or entity receives financial protection or
reimbursement against losses from an insurance company.
The ro&es of insurance.
-0rotect 2our !uture.
-/dd 3ore !inancial Security.
-0ay 4ff 1ebts and 4ther ,xpenses.
-5ring 0eace of 3ind.
3o/ !oes insurance /orks?
-There are many participants pay the premium to the insurance company. %n
exchange, participants will receive a contract, which called insurance policy.
-%nsurance exists to help individuals recover from the financial conse(uences of
these events by pooling the resources of a large group to pay for the losses of a small
group.
Is insurance &ike gam+&ing?
%nsurance and gambling are very different. They may be compared the type of
risk, legality, nature, when does the risk exist and how to eliminate to risk

Unit 25: What is accounting

,efinition of accounting.
- /ccounting is simply the means by which we measure and describe the results of
economic activities.
4ur.ose of accounting.
- The basic purpose of accounting is to provide decision makers with information
useful in making economic decisions.
'ccounting from a user$s .ers.ecti1e.
%n order to use accounting information effectively, you must understand
- The nature of the economic activities described in accounting reports.
- The assumptions and measurement techni(ues involved in the accounting process.
- 6ow to relate the accounting information to the decision at hand.
T).es of accounting information.
- Financial Accounting %nformation financial accounting refers to information
describing the financial resources, obligations, and activities of an economic entity.
- Management Accounting management accounting involves the development and
interpretation of accounting information.
- Tax Accounting The preparation of income tax returns is a speciali7ed field within
accounting.
Unit 29: u!iting
15 ,efinition
/uditing is an accounting function that involves the review and evaluation of
!inancial record.
25 Functions
-1iscover, correct mistake in financial record.
-3ake financial statement accurate and reliable
- 8eview and manage risks facing the business
- 3ake suggestions for improvement
- 35 'ims
- -To ensure the various departments of the company follow the policies and
procedures established by management.
- -To evaluates information security and associated risks exposure.
- -To provides support to the company9s fault correct program.
- "5 ,isa!1antages of interna& au!it
- -+ot accepted by the shareholders or tax authorities.
- -+ot detecting the errors are high.
- -+ot be shown to the person in management.
Unit "4: #akerting
,enifition :
set of forces or con!itions that !etermine the $rice of a $ro!uct% such as the
su$$&' a(ai&a)&e for sa&e an! the !eman! for it )' consumers*
In the .ast: marketing +as the task of figuring out ho+ to se&& the $ro!uct
In mo!ern: It is )ase! on a !ifferent set of $rinci$&es*
25 Things /hat in1o&1e in makerting
,-eci!ing +hat the customer +ants
,-esigning an! $ro!ucing a $ro!uct that satisfies these +ants at $rofit to the
com$an'*
,-eman! an! market forces*
35 -e6uirements
,The com$an' must consi!er the !esires of the consumer*
,.a+ materia&s: re/uiring &itt&e or no s$ecia& treatment*
,In(entories of this store! merchan!ise often nee! to )e finance!*
"5 7usiness acti1ities in1o&1e in marketing:
011 2e&&ing the correct $ro!uct at the $ro$er $&ace*
021 2e&&ing it at a $rice !etermine! )' !eman!
0"1 2atisf'ing a customer3s nee! an! +ants
041 $ro!ucing a $rofit for the com$an'
Unit 40: Internationa& )usiness
15 ,efinition of internationa& +usiness
,The exchange of goo!s an! ser(ices among in!i(i!ua&s an! )usinesses in
mu&ti$&e countries4outsi!e their nationa& )or!ers*
25 Wh) ha1e internationa& +usiness?
,5ertain countries are a)&e to $ro!uce some goo!s more efficient&' than other
countries:
6% 5ountries +ith a &arge $oo& of unski&&e! &a)orers are a)&e to $ro!uce $ro!ucts
+hich are &a)or intensi(e more chea$&' than countries +ith high&' $ai!% ski&&e!
&a)or forces*
6% 7eogra$hica& &ocation*
In the free market% countries $ro!uce +hate(er the' can most efficient&'
gro+ or manufacture% or +hat is of the greatest a!(antage to them*
35 -easons /h) go1ernments tr) to contro& the im.orts an! ex.orts of a countr).
, countr' en8o's an a!(antage if it ex$orts more than it im$orts*
,.estrict im$orts of certain $ro!ucts*