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Level B2 Finance and Accounting

 

STUDIA NIESTACJONARNE  LICENCJACKIE 

KIERUNEK: FINANSE

POZIOM: B2   Financial English

Course Books:  

  • Ian MacKenzie – English for the Financial Sector 

Student’s Book, CUP

  • Ian MacKenzie – Financial English (selected sections),

 Heinle

 

Additional materials: 

  • Paul Emmerson – Business Grammar Builder, Macmillan
  • Teacher’s own materials

 

 

 

                                                                    

                                                              Semester 1   

  • English for the Financial Sector - units: 1, 3, 4, 5, 6, 9   
  • Financial English – sections one ( 1.1, 1.2 ), three ( 3.1- 3.7, 3.13-3.14 )
  • writing:  letter writing (layout),  emails

 

Students should possess a good understanding of the following:

                              

  Syllabus Topics                                                                                         Items covered

1. Unit 1     Organization of the financial sector

 

This unit focuses on the recent history of the financial industry, and the way in which recent deregulation has led to formerly separate financial institutions

 

1.1 Students should understand the terminology  

        used in connection with the following:

  • development of the financial industry
  • going international

1.2 Students should acquire knowledge of the

       following:

  • recent changes in the industry
  • regulation and deregulation

               terms and conditions for bank accounts

2. Unit 3  Retail banking

 

This unit focuses on the area of the financial industry concerning commercial and retail banking

 

2.1  Students should get acquainted with the

          following:

  • retail/private as opposed to corporate and investment banking
  • typical retail products and services

 

2.2 Students should have a good understanding of

       the following:

  • typical customers and market segments
  • traditional channels and e-banking

            bank branches and their future

 

3.  Unit 4 and 6 Business correspondence

 

3.1 Students should gain knowledge of a layout of a business letter, different types of letters and useful phrases.

  • · Introduction to letter writing:
  • · different layouts

a)      including circular letters

b)      formal versus semi-formal/informal

The following aspects should be covered:

-          addresses of the sender and recipient (students should know what is meant by the phrase: ‘company headed paper should be used’)

-          date (avoiding confusion between American English and British English)

-          subject line

-          salutation matching the ending

-          blocked or indented paragraphs

  • formal and informal style
  • letters of complaint and apology (Unit 6)
  • email s (Unit 4 and 5)

 

4. Unit 5 Loans and credit

 

This unit focuses on debt financing versus

equity financing

 

4.1 Students should be familiar with key vocabulary of loans and credit

  • lending decisions
  • advising customers and making suggestions
  • debt financing versus equity financing
  • government bonds and corporate bonds

5. Unit 9  Central Banking

 This unit focuses on the functions of central   

banks, central bank decisions regarding  interest rates

3.3 (Financial English)

 

5.1 Students should have a good understanding of the following:

  • the role of the Central Bank
  • monetary policy
  • contemporary trends

 

5.2 Students should be able to discuss the following subjects:

  • recent changes in central banking
  • impact of global trends on individuals and businesses

 

6.  Unit 9  Money and banking

3.1-3.2; 3.4- 3.7; 3.13-3.14 (Financial English)

 

These units focus on types of banks, banking products and services

 

 

6.1 Students should be able to use terminology in connection with the following

  • forms of money
  • borrowing and lending
  • central and commercial banking
  • the money supply
  • types of bank and banking products
  • banking services
  • banking verbs

 

7. Unit 9  Talking about figures

    1.1; 1.2 (Financial English)

7.1 Students should learn how to say numbers

  • figures
  • percentages
  • decimals
  • squares, cubes, and roots
  • telephone numbers
  • fractions
  • calculations
  • foreign currency
  • numbers as adjectives

 

8.  Grammar

 

8.1 Revision and consolidation of grammar points

      at the level of Council of Europe Framework –

       B2 set  in business contexts

      Consolidation of the following grammar points:

  • tenses
  • countable and uncountable nouns

 

 

 

                                                                                   Semester 2

  • English for the Financial Sector -  units: 7, 11, 13 and Presentations ( units 22, 24 and teacher’s own materials)               
  • Financial English – sections two ( 2.1 – 2.9 ), four ( 4.3 – 4.6, 4.11 ), six  (6.3 – 6.4)      
  • Writing:     letters requesting payment – payment reminders (teacher’s own materials)

 

Students should possess a good understanding of the following:

 

Syllabus Topics                                                                                              Items covered

1.  Unit 22 and 24  Presentations

 

1.1 Students should be able to deliver effective presentations having the knowledge of the following aspects:

  • · Logical structure: (natural  transition from one point to another)
  • · Content and form (relevant and appropriate to the topic and the target audience)
  • · Effective delivery taking into account both verbal ( clarity of the language, voice, pace, intonation) and non-verbal aspects ( body language, enthusiasm )
  • · Using  visual aids (tips on how to prepare  good slides)
  • · Language of presentations (signaling devices, signposting language functions e.g. summarizing, developing the point, referring to visuals, digressing, contrasting, comparing, etc)
  • · Establishing a good rapport with the audience: grabbing attention, creating a good relationship, keeping eye contact
  • · Handling questions ( clarifying questions, playing for time, dealing with hostile questions)

 

 

2. Unit 7  Accounting

    2.9 (Financial English)

 

These units focus on types of accounting, financial statements included in annual reports

 

2.1 Students should be familiar with different types of accounting and financial statements:

  • financial management,
  • tax accounting
  • Balance Sheet
  • profit &loss account
  •  cash flow statement
  •  tax return

 

3. Unit 11  Financing international trade

                    4.4-4.6  (Financial English)

 

These units focus on the most common ways

of financing foreign trade, imports and exports

 

3.1  Students should be able to report on the following:

  • results of company operations
  • interpretation of data included in financial statements

3.2 Students should familiarise themselves with the most common ways of financing foreign trade and various stages involved in paying for a transaction:

  • letter of credit
  • bill of exchange

 

3.3 Students should be able to identify different terms of trade enumerated in Incoterms and assign them to the appropriate group.

4. Unit 13 Foreign exchange

     4.11; 6.3-6.4 (Financial English)

 

These units focus on exchange rates, foreign

exchange trading and the description of  graphs and diagrams

4.1 Students should be able to discuss the following subjects:

  • exchange rates
  • foreign exchange trading

 

4.2 Students should be able to report on trends, graphs, charts and statistics.

4.3 Students should learn phrases to talk about trends using graphs and translate them into their own language

  • verbs, nouns describing movements upwards and downwards,
  • degrees and speed of change
  • prepositions used in describing graphs

 

5.   Accounting basics

      2.1-2.8 (Financial English)

     

These units focus on accounting principles,     accounting terms, depreciation versus

amortization, and cash flow

6.  Trade and Commerce

      4.3 (Financial English)

 

5.1 Students should be familiar with the following :

  • company law
  • accounting principles
  • different types of assets
  • depreciation
  • cash flow (insolvency, liquidity)

6.1 Students should be able to discuss the following subjects:

  • balance of payments and balance of trade
  • protectionism
  • barter and counter-trade
  • economies of scale

 

7. Business correspondence

 

7.1  Students should practice writing letters requesting payment –payment reminders (teacher’s own materials)

  • layout, tone (collection letters’ aim is to persuade the customer to remit payment and retain custom and goodwill – 2nd and final collection letters will differ in tone)
  • useful expressions

 

8. Grammar

8.1 Revision and consolidation of grammar points

      at the level of Council of Europe Framework –

       B2 set  in business contexts

      Consolidation of the following grammar points:

  • articles
  • conditional sentences (all types)

 

 

Semester 3

  • English for the Financial Sector - units: 14, 15, 16, 17
  • Financial English – section five ( 5.1 – 5.3, 5.5 – 5.6, 5.13-5.14, 5.18)

 

  • Writing:  Letters of enquiry  (teacher’s own materials)

 

Students should possess a good understanding of the following:

 

                            Syllabus Topics                                                                                  Items covered

1. Business correspondence  Unit 14 and 16 

     Writing reports  (Optional)

 

 

1.1 Optional writing: Students should be able to write a properly structured and laid-out report

1.2 Students should report findings and give recommendations

1.3 Students should use the appropriate reporting style and tone.

1.4 Students should be able to distinguish between facts and opinion.

2.1  Writing -  Letters of enquiry:

  • requests for catalogues, price lists
  • general enquiries and replies
  • visits by representatives
  • requests for concessions
  • methods of payment
  • invoices

 

2. Unit 15  Stocks and shares

     5.1-5.3; 5.5; 5.6 (Financial English)

 

These units focus on key vocabulary of the stock market

 

 

 

2.1 Students should be able to distinguish between the primary and secondary markets

 

2.2 Students should be able to speak about rights attached to various securities:

  • equities
  • preference shares
  • bonds

 

2.3 Students should be able to understand market reports and describe changes in share prices

 

3. Unit 17  Mergers and acquisitions

   5.13-5.14; 5.16; 5.18  (Financial English)

 

These units focus on mergers and acquisitions:  

why they exist, and how they are carried out

 

3.1   Students should understand the meaning of corporate alliances:

  • friendly and hostile takeovers
  • mergers
  • joint ventures

 

3.2 Students should be familiar with the case for and against corporate alliances and the effects of takeovers

3.3 Students should be able to speak about leveraged buy-outs.

 

4.  Grammar

4.1 Revision and consolidation of grammar points

      at the level of Council of Europe Framework –

       B2 set  in business contexts

      Consolidation of the following grammar points:

 

  • active/passive voice
  • reported speech

 

 

Semester 4

  • English for the Financial Sector - units: 19,  21, 23 and meetings ( units 10 and 12 plus teacher’s

own materials)

 

  • Financial English  - section five (5.7 - 5.8)

 

  •  Business Skills:  Meetings

 

  • Writing:  placing orders/acknowledging orders , circular letters

 

Students should possess a good understanding of the following:

 

                        Syllabus Topics                                                                                      Items covered

1. Unit 19  Derivatives

     5.7 - 5.8 (Financial English)

 

These units focus on the basic information

concerning derivatives

 

 

1.1 Students should understand the meaning of  

       financial instruments:

  • futures
  • options (long and short position; American style options versus European style options; put and call options)
  • difference between futures and options
  • swaps (interest rate swaps and exchange rate swaps)
  • main uses of derivatives (hedging, speculating)

 

1.2 Students should be familiar with  benefits and

      drawbacks of derivative instruments. 

1.3 Students should be able to clarify why derivatives

      are sometimes called ‘time bombs’  or ‘weapons

      of mass destruction’

 

2. Unit 21  Asset management

 

This unit focuses on asset and fund management and the role of asset managers

 

 

2.1 Students should understand the meaning of asset management and fund allocation

 

2.2 Students should be able to identify different investment styles: 

  • growth investment
  • value investment
  • active investment
  • passive investment
  • index-linked portfolios
  • even fund portfolios

 

2.3 Students should be familiar with issues involved in fund management

 

2.4 The role of asset managers

3. Unit 23  Regulating the financial sector

 

This unit focuses on financial regulation and

managing conflicts of interest

 

 

3.1 Students should know about conflicts of interest and ethical choices in the sector and the resultant need for regulation (e.g. insider dealing, auditing firms disregarding dubious accounting practices, etc)

 

4.  Units 10 and 12 Meetings

4.1 Students should be able to chair a meeting and participate in meetings. These skills will be based on the knowledge of the following aspects:

  • · Good and bad meetings (mistakes to be avoided)
  • · Preparation and planning
  • · Structure of meetings
  • · Useful language for participating in  meetings (proposing, persuading, agreeing, disagreeing, interrupting, asking for an opinion, encouraging participation, paraphrasing, voting); tentative language
  • · Roles of the chairperson (giving and taking the floor, keeping order), secretary and participants
  • · Agenda (following the agenda) and minutes (collocations with the words: meeting, agenda, minutes, motion)

 

5. Business Correspondence

 

 

5.1. Writing:  (teacher’s own materials)

  • placing orders/acknowledging orders
  • circular letters

Students will study writing techniques needed for future work

6.  Grammar

 

 

 

 

 

 

6.1 Revision and consolidation of grammar points

      at the level of Council of Europe Framework –

       B2 set  in business contexts

      Consolidation of the following grammar points:

 

  • gerunds and infinitives
  • relativeclausess (relative pronouns)
  • prepositions

 

 

Semester 5

  • English for the Financial Sector – Negotiations (units: 18, 20 plus teacher’s own materials)

 

  • Press articles from the Economist, the Financial Times or other sources of teacher’s own choice

to develop  students’ reading ability

 

  • Revision for the standardised final exam     

  

  • Writing: memos, cover letters

 

Students should possess a good understanding of the following:

           

                                Syllabus Topics                                                                                              Items covered              

1.  Units 18 and 20 Negotiating  (+ teacher’s own

      materials)

 

1.1 Students should know how to negotiate effectively in English and they should be able to conduct their own negotiations. This skill should be based on the knowledge of the following aspects:

  • Negotiation stages (preparing your strategy before the process of negotiation, creating a good rapport with the opposite party, stating your position and exploring your partner’s position, establishing the bargaining zone, bargaining, settling and concluding)
  • Characteristics of a good negotiator
  • Approaches, techniques, strategies and styles

 

  • Useful language for conducting negotiations

1.       Language functions ( stating your position, bargaining, rejecting and accepting proposals, asking for clarification, asking for reaction)

2.       Grammar of diplomacy: modal verbs( could, might etc.), qualifiers( rather, slight etc.), rephrased negatives( unable, not in a position etc.), negative question forms( Shouldn’t we….? ), comparatives, softeners ( unfortunately, with respect etc. )passive voice, restrictive phrases( at the moment, at this stage etc. )

  • Cultural differences -international negotiations

 

1.2  Students should be able to deal with conflict, conclude successful and unsuccessful negotiations

 

2. Revision for the final exam

     (suggested book: ‘Business Grammar Builder’

       by P.Emmerson, Macmillan)

 

 

2.1  Revision and consolidation of grammar points

      at the level of Council of Europe Framework –

       B2 set  in business contexts

      Consolidation of the following grammar points:

  • tenses
  • countable and uncountable nouns
  • articles
  • reported speech
  • conditional sentences
  • gerunds and infinitives
  • passive voice
  • relative clauses – relative pronouns
  • prepositions

 

2.2  Revision of vocabulary from ‘Financial English’

        and ‘English for the Financial Sector’

3.  Business Correspondence

 

3.1   Revision of business writing:

        - letter of complaint

        - letter of apology

        - letter of enquiry and replies <requests for 

          catalogues, price lists, general enquiries and  

                 replies, visits by representatives, requests for  

                concessions, methods of payment, invoices>

        - letters requesting payment

        - cover letter

        - circular letter

        - orders (placing/acknowledging)

        - email

        - memorandum

 

3.1.  Writing: (teacher’s own materials)

  • memos  (layout, proper tone and register)
  • cover letters

4.  Articles from the press

4.1 Reading press articles on the current financial

       topics from leading business newspapers and

       magazines

 

 

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