not be local; 4) the relative size of the firm within its industry must be small when compared with the biggest units in its field. Of the characteristics cited, most scholars believe that the fourth, relative size, is the most important.
The SBA traditionally uses the following criteria for defining small business: retailing (sales volume), service (sales volume), wholesaling (sales volume), manufacturing (number of employees).
The following is a list of terms that can be used to describe a business. Each term tells something about the size of a business. Total assets – all that a business owns.
Net worth – business assets less what is owed.
Gross profits – money left from sales after all expenses (except taxes) have been paid.
Net profits – what is left from gross profit after business income taxes are paid. Employees – total number of workers and managers listed on the payroll.
Income- net receipts, the total sales less returns, allowances, and discounts.
It is necessary to keep records of a business for tax purposes and as a measure of growth. Some businesses fail because they are improperly expanded. Other businesses are unsuccessful because they expand too quickly and cannot handle problems that come with rapid growth. Many businesses remain small and provide excellent income throughout their lifetime.
Business operations are subject to review by local, state, and federal authorities. These reviews insure that rules and regulations are being obeyed and standards maintained. Some of the operations subject to review are listed here.
Income. Business income must be reported for income tax purposes. Other reasons for reporting business income include providing information for bank loans, attracting investors, making equitable distribution of profits in partnership, and as a measure of business growth. The records are usually subject to an audit.
Working conditions. Clean and safe working conditions must be provided for employees and if required, medical and safety equipment must be provided.
Wages and hours. Work regulations and announcements must be posted where employees ,can read them. Employers must pay at least the minimum wagelthat applies to their employees.
Advertising, labelling, and packaging. Businesses must not be guilty of false advertising, mislabeling, or providing less than the labeled weight in a package.
Unfair practices. Laws prevent business persons from engaging in various unfair practices, such as price fixing, and other means of restraining trade.
Discrimination. Federal and state regulations prevent an employee from being discriminated against because of color, race, sex, religion, or national origin.
Liability and соmpensatiоn. Employers are required to carry insurance and provide adequate compensation for workers injured on the job and customers injured on the business premises.
2.2.4.3 Ответьте на вопросы по тексту
1) How do people become owners and operators of small business firms?
2) What are the aims of establishing small firms?
3) What has always been recognized as the best way to preserve competition, prevent monopolistic control of any industries?
4) What facts illustrate the importance of small business?
5) Can you define a small business?
6) What is the most important characteristic of a small business?
7) What criteria are used for defining small business?
8) What terms describe the size of a business?
9) What operations of a small business are subject to review?
2.2.5 Тексты для студентов специальности «Налоги и налогообложение
2.2.5.1 Задание 1. Прочитайте и запомните следующие слова и словосочетания:
tax /levy – налог
levy/impose taxes. syn. to tax – облагать налогом и собирать взимать налоги
tax burden – налоговое бремя
direct tax – прямой налог indirect tax – косвенный налог (на товары и услуги)
personal income tax – налог на доходы граждан/физических лиц
tax-payer – налогоплательщик
excise (duty) – акциз, акцизный сбор
corporation/company tax – налог на прибыль корпорации/компании
tax rate – налоговая ставка
tax base – база налогового обложения
tax administration – порядок взимания налогов, администрирование
social insurance tax – социальный налог
tax revenues – налоговые поступления, доходы от налогов
value added tax (VAT) – налог на добавленную стоимость – НДС
tax – exempt – свободный от уплаты налогов
overall tax intake – общая сумма налогов
eanings – доход equity [‘ekviti] – соразмерность налога доходу
corporate – организация, обладающая правами юридического лица
individual – физическое лицо
depreciation – обесценивание, амортизация
Tax Code – налоговый кодекс
allowance – скидка, льгота
2.2.5.2 Задание 2. Прочитайте тексты А, В, С, D переведите их письменно
Text A. Taxes and Fiscal Policy
In every society governments spend money on, goods and services for people as national defence, public education, transport and others. As a rule, government expenditure spending is chiefly
