Английский язык: Аннотирование и реферирование текста

36 up the business. For instance, if it is necessary to buy raw materials for the manufacturing of a big order and the incomings from sales will be received after a month, it is necessary to have a financial source that will replace the missing working capital. In order to forecast the incom- ing cash and the payments you have to work out a cash flow plan. It is developed on the base of the plan of incomes and expenses for every planning period of time (month, quarter, etc.). The cash flow plan con- sists of all incoming and outgoing cash flows. It shows the real pay- ments; for this reason it does not include the amortization of the long- term assets. The negative balance – the difference between the cash incomes and the expenses – means lack of capital and necessity of at- tracting additional financing. The efficiency of the business is calculated by means of different coefficients. The most used and not so complicated one is the rate of profitability and the payback period. The rate of profitability is calculated as a ratio of the profits to the expenses or to the invested capital. The rate of profitability shows how profitable the activity is. The payback period is determined on the base of the cash flow plan as a ratio of the net cash flow to the invested capital. This index shows the necessary number of years for repayment of the invested capital. From the balance sheet you may obtain very important for the business information. The balance sheet is a reporting form showing the assets, i.e. the whole property used by the company and the liabili- ties, i.e. the financial resources used for financing the assets by definite moment of time. All companies are obliged to make a balance sheet and to submit it to the taxation administration. The balance sheet shows : • The size of the own capital invested in the business. • The dependency on borrowed capital. • To what extent the enterprise is flexible, i.e. how quickly the enterprise may adapt to the changing market conditions.