Glimpses of history  of money

     At different periods of time and in different parts of the world many different commodities have served as money. These commodities were: cattle, sheep, furs, leather, fish, tobacco, tea, salt, shells etc. The experts underline that to serve effectively as money, a commodity should be fairly durable, easily divisible, and portable. None of the above-mentioned commodities possessed all these qualities, and in time they were superseded by precious metals.

     First they were superseded by silver and later by gold.

     When a payment was made the metal was first weighed out. The next stage was the cutting of the metal into pieces of definite weight and so coins came into use.

     Paper money first came into use in the form of receipts given by goldsmiths in exchange for deposits of silver and gold coins. After goldsmiths became bankers their receipts became banknotes. That's how the first banknotes came into existence. At first coins were worth their face value as metal. But later token coins of limited value as legal tender were issued. Now smaller denomination coins are made from bronze and are often referred to as coppers. Bigger denomination coins are made from cupronickel and are usually called silver.

 

Exercises:

№ 1. Find the answer in the text:

1.   What commodities served as money in the past?

2.  What are the requirements of a commodity to serve as money?

3.  Why did precious metals start to serve as money?

4.  What precious metal was used first to serve as money?

5.  What precious metal was used then?

6.  How did coins come into existence?

7.  How did paper banknotes come into existence?

8.  What coins are called silver?

9.  What are coppers?

      

№ 2. Translate into Russian:

     face value, legal tender, a new issue, cutting of the metal into pieces, paper money, in

     exchange for deposits, bigger denominations coins.

 

№ 3. Sum up what the text says about:

    the money in the past

    the way banknotes appeared

    the metals of which coins were and are made

    the silver coins and coppers

 

№ 4. Fill in the words used in text Underline them:

    When a payment was made the metal was fist … out.

    But later token coins of limited value as … … were issued.

    Now smaller denomination … are made from bronze.

    In time they were superseded by precious ….

    First they were … by silver and later by gold.

 

№ 5. Read the text and discuss it in Russian:

What is money?

     Money is one of the most important inventions of humankind. Without it a complex, modern economy based on the division of labor, and the exchange of goods and services, would be impossible.

     When you buy a candy bar, you may pay for it with a coin or paper note. The storekeeper knows that you will eat candy, and that he never will be able to get it back from you. He also knows that he can eat neither the coin nor the note you gave him. Why does he accept the coin or note in trade for candy? It is because the coin is money.

     At first sight answering the question what money is seems obvious; the man or woman in the street would agree on coins and bank notes, but would they accept them from any country? What about checks? They would probably be less willing to accept them than their country's coins and notes. What about credit cards and gold? The gold standard belongs to history but even today many rich people in different parts of the world rather keep some of their wealth in the form of gold than in official, inflation-prone currencies. The attractiveness of gold, from aesthetic point of view, and its resistance to corrosion are two of the properties which led to its use for monetary transactions years. In complete contrast, a form of money with virtually no tangible properties - electronic money -seems to gain in popularity.

 

     Новые слова; A coin - монета.
     A candy bar - коробка конфет.

     Tangible properties - осязаемые свойства.

“ Компании и деньги ”.

Тема: “Выплата заработной платы в компании”.

Words:

device           to stamp stamp to collect timekeeper to check to pass overtime to calculate advice earnings deduction health contribution

приспособление, механизм    штемпелевать штемпель, печать   собирать табельщик проверять передавать сверхурочное время подсчитывать извещение заработок удержание, вычитание здоровье вклад, взнос

payroll to employ employee staff to divide to pay salary wages bonus job card to insert literal

платёжная ведомость держать на службе, нанимать служащий штат, персонал делить(ся), подразделять(ся) платить жалование, оклад зарплата премия работа, труд карточка вставлять буквальный

 

Text:

THE  PAYROLL OF  A COMPANY

     The list of people employed by a company is known by the payroll. The payroll is usually divided up as follows:

     ­ monthly-paid staff

     ­ weekly-paid staff

      ­ hourly-paid staff

    Office staff arc either monthly or weekly paid and the money they get is called salaries, which are usually set.

     Workers are either weekly or hourly paid and they get set wages. Many companies often operate a bonus system for monthly and weekly-paid staff. The bonus is usually paid against certain work done.

     The amount of the bonus payment is worked out from the employee’s job cards.

     Hourly-paid staff are usually on the clack. Under this system each worker has a clock number and a clock card.  He records his hours of work on the clock card by inserting it into what is literally a clock.

     A device in the clock stamps the card with the time. At the end of each week the clock cards are collected by the timekeepers. The cards arc checked and then passed on to the Wages Office.  In the Wages Office the wages and overtime are calculated.

     When monthly or weekly paid staff work overtime they are also paid overtime.

     Employee are sometimes paid in cash or by cheque. But direct payments into the employee's bank accounts arc becoming more and more popular.

       As a rule employees get pay advices for the paid period.

The advice states the earnings, all the deductions and the total amount payable. The deductions usually include National Wealth Insurance contributions.

 

Exercises:

№ 1. Answer the following questions:

1. On what time basis can different employees be paid?

2. What is the money paid to office staff and workers called?

3. On what basis is bonus paid?

4. Do employees sometimes work overtime? How are they paid then?

5. In what ways can wages and salaries be paid?

6. What way of being paid would you prefer?

 

№ 2. Translate into using the text:

    Персонал оплачиваемый еженедельно.

    Получают установленную зарплату.

    Сумма премии.

    Часовое устройство.

    Подсчитывается зарплата и сверхурочное время.

    Оплачивается наличными или чеком.

 

№ 3. Complete as in the text:

    Workers are either … or hourly paid and they get set ….

    Hourly-paid … are usually on the ….

    A device in the clock … the card with the ….

    The cards are checked and then … on to the … Office.

    Employees are sometimes … in cash or by cheque.

    As a … employees get pay advices for the … period.

 

№ 4. What would you tell a foreigner about our practice of:

    bonus payments

    overtime payments

    the ways wages and salaries are paid

Тема:   “Бухгалтеры, главные бухгалтеры, ревизоры”.

Words:

bookkepper accountant chartered  accountant                                                            receipts disbursement purchase transaction appropriate to post controller

бухгалтер ревизор отчётности, бухгалтер дипломированный бухгалтер, бухгалтер-эксперт денежные поступления выплата денег закупка сделка соответствующий переносить в главную книгу контролёр, ревизор

cash sale book flow entry journal ledger earnings executive expenditure

наличные деньги продажа бухгалтерская запись, проводка поток (денег) бухгалтерская книга журнал главная книга доход (ы) руководитель расходы

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