University of Bejaia Department of Finance & Accounting

Level: 3rd year Sections: A & B

Markets and Competitors

Part 2 : Competitors

Other companies who have similar products to yours are competitors. Competitors can be
bigger or smaller in various ways:
Revenue (=money from sales).
Market share.
Number of employees.
Sales and distribution network.

The largest company is the market leader, but it is not always clear who this is. For example
there may be a different leader for different product lines or in different markets.
Here are some adjectives often used with the words ‘competitor’, ‘competition’ and
‘competitive’.
Closest/direct/main/major/nearest/ competitor
Fair/fierce/strong/tough/healthy/open competition
Extremely/highly/fiercely competitive
The iPhone is our direct competitor
There is fierce competition, but it’s healthy for the market because consumers benefit.
Retail banking is highly competitive.
We say….
Compete against another company
Be in competition with other companies
There is competition among/between companies
Face competition from other companies
Compete for a market
To succeed in business you need a competitive edge/competitive advantage (= something
that you do better than other companies in the same market)

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9 Verb Tenses in English

Past Present Future

Simple I created my company I create… etc I will create my
two years ago He creates….etc company next year
Continuous I was creating my I am creating my I will be creating
company own company my own company
Perfect I had created my I have created my I will have been
own company own company creating my …etc

Not included
University of Bejaia Department of Finance & Accounting
Level: 3rd year Sections: A & B

Accounting/Accountancy

Accounting is the process of collecting, analyzing and reporting financial information. The
first book of accounting principles was written in 1494 by the Italian Luc Paciolo (1445-
1515) was a math master.
The evolution of accounting has led to the appearance of accounting profession.
Accounting is frequently called the “language of business” because of its ability to
communicate financial information about the organization.
Many people confuse accounting with bookkeeping, but there are important differences
between the two.
Bookkeepers deal with taxes and different business transactions of the company. The
accountant’s responsibility is to analyze and interpret the financial data and make it
understandable for users.Accounting is the activity of keeping record of the money a person
earns and spends,in other words ,it mainly refers to financial records,income and
expenditure.Whereas accountancy,it is the process of managing the income and expenses of
a business.(The profession or duties of an accountant).

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Relative clauses give us information about the person or thing mentioned.Defining relative
clauses give us essential information-information that tells us who or what we are talking
about.”who,which,where,when” are the most common relative pronouns

- An accountant is a professional who performs accounting functions such as account

analysis,auditing or financial statement analysis.
-These are the flights that have been canceled.

Practice: Complete the sentences with the correct relative pronoun

1. The man ……………I’ve just met was my teacher.

2. A dog sled is a means of transport………….is used in Alaska.

3. The restaurant …………..we ate yesterday was the best one so far.

4. We are going to visit the house………..I grew up.

University of Bejaia Department of Finance & Accounting
Level: 3rd year Sections: A & B

Math Terminology

Equation

Addition (To add) Two plus two is four. The sum of/
-I,you,we,they add (2+2=4) The total of a
-she,he,it adds number
Five add five is ten . Is ……
(5+5=10)
La some de/le total
de

Sustraction (To substract) .Six minus two is four(6-2=4) The difference of a

-I,you,we,they number and a
substract .Ten substract/deduct five number is …..
-she,he,it substracts is/gives you five(10-5=5)

Eight takes away three is five

.take five away from ten you

get/you left with five La difference de

Multiplication (To mumtiply) .three times three is nine The product of a

-I,you,we,they (3*3=9) number and a
multiply number is …..
-she,he,it multiplies .multiply five by five you get
25

Four multiplied by two is

eight (4*2=8)
Le produit de

Division (To divide) - -divide 8 by 2 you get 4 The quotient of a

I,you,we,they divide number is….
-she,he,it multiplies

-ten divided by two is five

(10/2=5)

Le quotient de
University of Bejaia Department of Finance & Accounting
Level: 3rd year Sections: A & B

Jane : I am really excited about the launch of our of our new fat-free donuts.
Diane: Me too. Before going further, it is better to make sure this product is going to be
profitable.
Jane: I did some back of the envelope calculations. Take a look.
Diane: I see you estimated two million for new equipment
Jane: That is an educated guess based on some equipment I bought last year.
Diane: You are going to need a doubl-check.Using old estimate can get us in hot water.
Jane: No problem. I’ll phone a manufacture in the US to get some help

Idioms:
Back of the envelope: Quick calculation
Educated guess: Based on experience
In hot water: I n trouble

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Exercise: choose the most appropriate response to each sentence.

1-If you don’t double-check those numbers and make sure they’re correct,you might get in
hot water with your boss.
a- You’re right.My boss always appreciate it when I give him the wrong numbers
b- It’s great.My boss enjoys soaking in hot water
c- That’s right.My boss always gets angry when he finds mistakes

2-We should pull the plug on our online advertising.

a- I agree.It’s not bringing us any new business.
b- I agree.Let’s double our spending on it.
c- I disagree

3-Does it blow to your mind that they promoted Beth to General Manager a fter the mess
she made in our department?
a- Yes,she really deserves that promotion.
b- No,but it does surprise me
c- Yes,it really surprises me