MINISTRY OF SCIENCE AND EDUCATION OF THE REPUBLIC OF KAZAKHSTAN
NEI «ALMATY MANAGEMENT UNIVERSITY»
DEPARTMENT: “FOREIGN LANGUAGES”
Approved
at the meeting of the Educational
and Methodic Council Chairman
_____________N. Duisengulova
«____»_______________2014
Academic program: Bachelors
Specialty: 5В050900 - “Finance”
WORKING PROGRAM
on the course: “Professionally Oriented Foreign Language”
Almaty, 2014
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Completed by: Senior teacher ________
I. Agashkina, Professor _______ P. Iskhakova
The working program has been developed on the basis of Sample Program of the course
“Professionally Oriented Foreign Language” for students of the specialty 5В050900 Finance.
The working program was reviewed at the meeting of the Department of Foreign Languages
Protocol № __ from «___» _________ 2014
Acting as Head of Foreign Languages Department ____________ ______ M. Jandildinov
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Preface
English is the international language of financial sector, and it is really important for employers
to be confident that their workforces have the language skills they need. Students who wish to
succeed in the international business arena will need to demonstrate that they have first-rate
English language skills and the ability to communicate with finance and accountancy
professionals throughout the international business community.
Great role in preparing these professionals belongs to higher education economic institutions
(Almaty Management University is one of the leaders among them), and it imposes qualitatively
new goals on preparing top managers in finance, banking and economics. This curriculum has
been worked out on the basis the course book Professional English in Use-Finance.
The course “Professionally Oriented Foreign Language” is designed as a compulsory one
for the 3rd –year students of the Russian and Kazakh departments, specialty “Finance” at the
Almaty Management University.
This discipline considers and examines theoretical material on the basics of finance, and
it covers the most up-to-date financial vocabulary, from accounting to borrowing and lending,
central banking to venture capital and many more areas including financial idioms and
metaphors.
Methodology of teaching this discipline provides for practical classes conduction, IWST
and IWS.
The purpose of teaching this discipline is preparing top managers to communicate with
finance and accountancy professionals throughout the international business community.
The objectives of teaching this discipline are:
Prerequisites:
Major skills (Speaking, Reading, Listening, Writing) in Business English (level –
Intermediate and above)
Postrequisites:
Acquired skills are necessary for gaining further knowledge in professional English and
promoting student’s career in English-speaking environment in the financial fields.
In the process of learning students are supposed to get acquainted with and learn:
 essential language and terminology on Financial English
 main concepts of accounting, banking and corporate finance
Upon completion of this discipline, students must/are supposed to be able to master the
following competencies in:
 reading: to find out and understand special information needed; to read and
understand articles on finance in newspapers and magazines and on the
Internet.
 listening: listen effectively to business conversations and documentaries,
listen for content or for language, to reproduce the details orally or in written
form, taking and sending messages on the phone.
 speaking: entertaining clients and colleagues, exchanging information and
problem-solving on the phone, e-mailing,leading and influencing the outcome
of cross-cultural meetings, team- presenting and giving effective individual
presentations, negotiating, expressing informed views on professional topics,
communicating as self-reliant speakers in both professional and social
situations.
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THEMATIC PLAN OF THE DISCIPLINE
“Professionally Oriented Foreign Language”
№
Topic
Total
Contact hours
including
Practical hours
IWS
IWST
1
Theme 1Basic financial terms
Money and income
Currency of the Republic of
Kazakhstan
Business Finance
6
3
2
1
2
Theme 2Accounting
Accounting and accountancy
Accounting system in Kazakhstan
Bookkeeping
Theme 3 Accounting
Company Law 1.
Company Law 2.
Types of businesses in Kazakhstan
Theme 4 Accounting
Accounting policies and standards
in Kazakhstan and abroad
Accounting assumptions and
principles
6
3
2
1
6
3
2
1
6
3
2
1
Theme 5 Accounting
6
3
2
1
6
3
2
1
6
3
2
1
6
3
2
1
6
3
2
1
6
3
2
1
6
3
2
1
6
3
2
1
3
4
5
Depreciation and amortization
Auditing.
6
7
8
9
10
11
12
Theme 6Accounting
The balance sheet 1
The balance sheet 2: assets
Theme 7 Accounting
The balance sheet 3: liabilities.
The other financial statements.
Midterm 1
Theme 8 Banking
Personal banking
Commercial and retail banking
Financial institutions
Theme 9 Banking
Investment banking
Central banking
Theme 10 Banking
Banking system in RK
National Bank of Kazakhstan
Islamic banking
Theme 11 Corporate finance
Venture capital
Venture capital funds in KZ
Stocks and shares
Theme 12 Corporate finance
Shareholders Share prices Bonds
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Kazakhstan stock exchange
13
Theme 13 Corporate finance
Futures
Derivatives
Describing charts and graphs
6
3
2
1
14
Theme 14 Corporate finance
Mergers and takeovers
Leveraged buyouts
6
3
2
1
Market of mergers and
acquisitions in Kazakhstan
Revision and consolidation of
the material
6
3
2
1
90
45
30
15
Midterm 2
Total
Topics and tasks on speaking
№
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
Topic
History of money
Tasks on speaking
Do Internet research and prepare a
presentation on history of money in
different countries.
Accounting system in Kazakhstan
Overview the accounting system in
Kazakhstan and discuss it in small
groups
Types of businesses in Kazakhstan
Discussion on the topic.
Annual report of a local or a foreign
Prepare the analysis of the Annual report
company.
of a local or a foreign company and
report it to other students.
Functions of internal and external auditors In pairs, discuss if you would like to
work as an internal or external auditor
and why. Compare their work, some pros
and cons.
The components of balance sheet
Find in the Internet the balance sheet of
some large company. Share the
information in group of three, compare
and analyze their sub-divisions and the
most valuable assets.
Analysis of financial activity
Look at the annual reports and balance
sheets of some company. What
differences do you notice in the balance
sheet? Brainstorm in pairs the reasons
for this and discuss it with other pairs.
The services of commercial / investment Prepare the presentation about some
banks in KZ and other countries
commercial or investment banks
Islamic banking: advantages and
Discussion in groups.
disadvantages
Banking system in RK and National Bank
Do Internet research about Banking
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of Kazakhstan.
system in RK and National Bank of
Kazakhstan and share the information.
11.
“I want to start my business”
12.
Investing in stocks
13.
Describing charts and graphs
Discuss about good fields for start-ups in
KZ and how to raise capital for them
Discuss in small groups what kind of
stocks or bonds would you buy now and
why
Find in the Internet and describe a graph
of recent changes in the sales, profit or
stock price of a local or a foreign
company.
14.
Mergers and acquisitions in Kazakhstan
15.
My future job
Prepare for the discussion on the
topic
In small groups, share your plans for the
future, your career and achievements in
10 years.
Content of the discipline
Theme 1: Basic financial terms: Money and income. Business Finance.
The definitions of money and currency. Currency of the Republic of Kazakhstan.
Different types of income and outgoings.
Types of capital for different purposes; revenue and financial statements. Internet research and a
presentation on history of money in different countries.
Theme 2: Accounting: Accounting and accountancy. Bookkeeping.
The content of accounting and auditing. Accounting rules, laws and standards in different
countries. Accounting system in Kazakhstan. A system of double entry bookkeeping. Daybooks
and ledgers. Balancing the books.
Theme 3: Accounting: Company Law.
The definition of the partnerships. Characteristics of limited liability. Founding companies. What
Articles of Association and Memorandum of Association state. Characteristics of private and
public companies. Annual general meetings (AGM). Extraordinary General meeting (EGM).
Types of businesses in Kazakhstan.
Theme 4: Accounting: Accounting policies and standards. Accounting assumptions and
principles.
The ways of presenting accounts, methods of valuation and measurement. Historical cost and
inflation accounting. The main assumptions used by accountants. The most important accounting
principles. Analysis of the Annual report of a local or a foreign company.
Theme 5: Accounting: Depreciation and amortization. Auditing.
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The definitions of fixed assets and current assets. Valuation of assets. The most common
methods of depreciation of assets – strait-line method and accelerated depreciation. Depreciation
and amortization systems. The content of the internal auditing and external auditing.
Irregularities. The definitions of audit report, qualified report, management letter. Discussion
aboutpros and of working as an internal or external auditor.
Theme 6: Accounting: The balance sheet 1. The balance sheet 2: assets.
Assets, liabilities and capital. The parts of shareholders’ equity. Classification of assets: fixed
and current assets, tangible and intangible assets, net assets.
Theme 7: Accounting: The balance sheet 3: liabilities. The other financial statements.
The classification of liabilities. The definition of accrued expenses. Shareholders’ equity on the
balance sheet. The profit and loss account. The cash-flow statement.
Theme 8: Banking. Personal banking. Commercial and retail banking. Financial institutions.
Types of current accounts. Banking products and cervices. What is e-banking. The functions of
commercial and retail banks. Credit, loans and risks. Financial institutions – types and activities.
Theme 9: Banking. Investment banking. Central banking.
The difference between commercial and investment banks. How the central banks supervise
commercial banks. Raising capital. Mergers and acquisitions. Consulting and research. The
functions of central banks. Central banks and commercial banks. Central banks and exchange
rates.
Theme 10: Banking system in the Republic of Kazakhstan. National Bank of Kazakhstan.
Islamic banking.
Two-tier banking system of RK. National Bank of Kazakhstan: overview, goals, tasks and
functions. First Islamic bank in Kazakhstan. Interest-fee banking. Types of accounts. Leasing
and short-term loans.
Theme 11: Corporate finance: Venture capital. Venture capital funds in KZ. Stocks and shares.
The definitions of stocks, shares and equities. The stages of going public; the documents
required.
Ordinary and preference shares. Buying and selling shares. New share issues. Categories of
stocks and shares.
Theme 12: Corporate finance: Shareholders. Share prices. Bonds.
Classification of investors. Dividends and capital gains. Types of speculators. Influence on share
prices. Predicting prices. Types of risk. Government and corporate bonds. Prices and yields.
Other types of bonds.
Theme 13: Corporate finance: Futures. Derivatives. Describing charts and graphs.
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The content of commodity futures. Classification of financial futures. What is options. In-themoney and out-of-the- money. The definitions of the warrants and swaps.
Increase and decrease. Rate of change. High points, low points, and staying at the same.
Theme 14: Corporate finance: Mergers and takeovers.Leverage buyouts. Mergers and
acquisitions in Kazakhstan.
Mergers, takeovers and joint ventures. Two kinds of takeover bid – hostile and friendly. Types of
integration. Conglomerates and raiders. Market of mergers and acquisitions in Kazakhstan
Themes for practical classes
Theme 1:Basic financial terms: Money and income. Accounting: Accounting and accountancy.
Questions to review:
1. What is money?
2. Give the definition of currency.
3. When and where was the first money invented?
4. What the first historical forms of money do you know?
5. When did the currency of the Republic of Kazakhstan first appear?
6. List the different types of income and outgoings.
7. What are the types of capital for different purposes?
8. Do you know what the average income in Kazakhstan is?
Theme 2 : Accounting: Accounting and accountancy. Bookkeeping.
Questions to review:
1. What does accounting involve?
2. What does auditing mean?
3. Give the definition of the term “creative accounting”.
4. What is double-entry bookkeeping?
5. What qualities does a good bookkeeper need?
6. Speak on the accounting system in Kazakhstan.
7. What accounting system do international companies in our country use?
Theme 3: Accounting : Company Law.
Questions to review:
1. Give the definition of the partnerships.
2. Characterize limited liability.
3. What do Articles of Association state?
4. Comment on the difference between private and public companies.
5. What are the functions of executive directors and non- executive directors?
6. Do the owners of limited company have to pay all the company’s debts?
7. Do partnerships have limited liability in Kazakhstan?
Theme 4: Accounting: Accounting policies and standards. Accounting assumptions and
principles.
Questions to review:
1. Give the definitions of valuation and measurement.
2. How do you understand a true and fair view?
3. What methods of valuation and measurement do you know?
4. Which are the most important accounting standards or rules in Kazakhstan?
5. What are the main assumptions used in accounting?
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6. Comment on the most important accounting principles.
Theme 5:Accounting: Depreciation and amortization. Auditing.
Questions to review:
1. What is the difference between fixed assets and current assets?
2. What does straight-line method of depreciation mean?
3. Are companies in our country allowed to record huge assets, such as their headquarters, as
having zero value on their balance sheet? Is this a good idea?
4. What is the function of the internal auditing?
5. What do external auditors do?
6. Give the definitions of audit report and management letter.
7. What does qualified report state?
8. What are pros and of working as an internal or external auditor?
Theme 6:Accounting: The balance sheet 1. The balance sheet 2: assets.
Questions to review:
1. What two parts are there in the annual balance sheet? What do they show?
2. What do assets equal?
3. What does shareholders’ equity consist of?
4. What are the most common -subdivisions of liabilities?
5. What do current assets include?
6. What do non-current assets consist of?
7. Give the definition of fixed assets.
8. Name the components of tangible and intangible assets.
Theme 7: Accounting: The balance sheet 3: liabilities. The other financial statements
Questions to review:
1. What is the definition of liabilities?
2. What is the classification of liabilities?
3. What do current liabilities include?
4. What are the elements of non-current liabilities?
5. What does shareholders’ equity consist of?
6. Give the definitions of profit, loss account and turnover.
7. What are the components of a cash-flow statement?
Theme 8:Banking :Personal banking. Commercial and retail banking. Financial institutions
Questions to review:
1. What is a current account?
2. Why do many people use savings or deposit account?
3. What do overdrafts allow people?
4. What are mortgages?
5. Do you prefer to go to the local branch of your bank, or to use the Internet or the
telephone? Why?
6. What are the functions of commercial and retail banks?
7. What does a bank usually do before lending money?
8. What do personal loan mean?
Theme 9:Banking: Investment banking. Central banking.
Questions to review:
1. What is the difference between commercial and investment banks?
2. What role do investment banks play?
3. How can they raise capital?
4. What is IPOs?
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5.
6.
7.
8.
9.
What are stockbroking and dealing department activities?
Give the definitions of a subsidiary.
What are the main functions of central banks?
How exactly does the central bank supervise the commercial banks?
How do central banks influence the exchange rates?
Theme 10:Banking system in the Republic of Kazakhstan. National Bank of Kazakhstan.
Islamic banking.
Questions to review:
1. What do you know about banking system of RK?
2. What are the goals, tasks and functions of National Bank of Kazakhstan?
3. What is the basic feature of Islamic banking?
4. How do Islamic bank differ from another financial institutions?
5. What types of accounts are there in Islamic bank?
6. Explain the term ‘leasing’ or’ hire purchase arrangement’.
7. What do you think advantages and disadvantages of profit and loss sharing compared with
charging interest?
Theme 11:Corporate finance: Venture capital. Venture capital funds in KZ. Stocks and shares.
Questions to review:
1. How do private companies find the ways of raising capital?
2. Why are banks usually risk-avers?
3. Who are called angel investors?
4. Define the terms stocks and shares.
5. What are the stages of going public?
6. Which places are called stock market or stock exchange?
7. What is the difference between ordinary and preference shares?
8. What is primary and secondary market?
9. Give the definition to market price.
10. What do market makers do?
11. Which categories do investors classify stocks and shares?
12. What do you know about venture capital funds in Kazakhstan?
Theme 12:Corporate finance: Shareholders. Share prices. Bonds.
Questions to review:
1. What indexes are stock markets measured?
2. What animal names are used to describe investors?
3. Comment on the terms dividends and capital gains.
4. What do short position and long position mean?
5. What is settlement day?
6. What is maturity day?
7. Which factors do share prices depend on?
8. What government bonds are issued in the UK and the USA?
9. How are the companies issuing bond graded?
10. Give the definitions to the next type of bonds: convertible shares, zero coupon bonds,
junk bonds, fallen angels.
Theme 13:Corporate finance: Futures. Derivatives. Describing charts and graphs.
Questions to review:
1. What are forward and futures contracts?
2. What products are futures traded on?
3. Which term is used for these products?
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4.
5.
6.
7.
8.
9.
What is called backwardation?
What types of financial futures do you know?
Define the term derivatives.
What is the difference between futures and options?
What are warrants and how long do they last?
What are the most common verbs to describe:
a) small or slow upward movement?
b) large upward movement?
c) small or slow downward movement?
d) large downward movement?
Theme 14:Corporate finance: Mergers and takeovers. Leverage buyouts. Mergers and
acquisitions in Kazakhstan.
Questions to review:
1. What are the ways of changing the ownership of companies in the modern business world?
2. Comment on hostile and friendly types of takeover bid.
3. Define horizontal and vertical integration.
4. Explain the term diversification.
5. What kind of takeover bids are taking place in Kazakhstan?
6. When is a company known as conglomerate?
7. What does synergy mean?
8. What recent mergers and acquisitions in Kazakhstan do you know?
Themes, questions and assignments to fulfill IWS
Theme 1: Basic financial terms: Money and income. Accounting: Accounting and accountancy.
Prepare the presentations Currency in the Republic of Kazakhstan.
Read theoretical material of the units 1, 2.
Do exercises pp. 9,11 in Professional English in Use Finance by Ian MacKenzie, Cambridge
University Press, 2007
Theme 2: Accounting: Accounting and accountancy. Bookkeeping.
Get ready to give an overview of accounting system in Kazakhstan.
Read theoretical material of the units 3, 4.
Do exercises p. 13, 15. Prepare for vocabulary quiz.
Theme 3: Accounting: Company Law.
Be ready for discussion on the topic Types of businesses in Kazakhstan.
Write the Memorandum of Association.
Read theoretical material of the units 5, 6. Do Ex. pp. 17, 19
Theme 4: Accounting: Accounting policies and standards. Accounting assumptions and
principles.
Do Internet research prepare the analysis of the Annual report of a local or a foreign
company.
What are the most important accounting standards in KZ? - Discussion
Read theoretical material of the units 7, 8. Writing: Ex. pp.21, 23
Theme 5: Accounting: Depreciation and amortization. Auditing.
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Learn the definitions of the terms.Get ready to speak on theme 5.
Read theoretical material of the units 9, 10. Ex. pp. 25, 27.
Vocabulary quiz.
Theme 6: Accounting: The balance sheet 1. The balance sheet 2: assets.
Presentation: Find in the Internet and describe the balance sheet of some large company in
Kazakhstan.
Read theoretical material of the units 11, 12.Do Ex. pp. 29, 31.
Theme 7: Accounting: The balance sheet 3: liabilities. The other financial statements.
Read theoretical material of the unit 13.
Do Ex. pp.33, 35
Prepare for the Midterm test.
Theme 8: Banking:Personal banking. Commercial and retail banking. Financial institutions.
Prepare the presentation about some commercial or investment bank in KZ. Read theoretical
material of the units 19, 20, 21.
Do Ex. pp. 45, 47, 49.
Theme 9: Banking. Investment banking. Central banking.
Prepare reports aboutinvestment banking systems in different foreign countries.
Do Ex. pp.51, 53.
Theme 10: Banking system in the Republic of Kazakhstan. National Bank of Kazakhstan.
Islamic banking.
Do Internet research about banking system in RK and National Bank of Kazakhstan.
Think of advantages and disadvantages of profit and loss sharing compared with charging
interest, get ready for discussion.
Read theoretical material of the unit 26. Do Ex. pp. 59.
Theme 11: Corporate finance: Venture capital. Venture capital funds in KZ. Stocks and shares.
Read the task on p.63 about starts-up and answer the questions.
Collect the information about venture capital funds in KZ.
Read theoretical material of the units 28, 29, 30. Ex. pp.63, 65, 67
Theme 12: Corporate finance: Shareholders. Share prices. Bonds.
Report on Kazakhstan stock exchange.
Think if this is a good time to buy bonds. Why?
Read theoretical material of the units 31, 32, 33.
Ex. pp.69, 71, 73.
Theme 13: Corporate finance: Futures. Derivatives. Describing charts and graphs.
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Find in the Internet and describe a graph of recent changes in the sales, profit or stock price of a
local or a foreign company.
Read theoretical material of the units 34, 35, 37, 38. Do Ex. pp.75, 77, 83.
Theme 14: Corporate finance: Mergers and takeovers. Leverage buyouts. Mergers and
acquisitions in Kazakhstan.
Prepare for the discussion of the topic “Mergers and acquisitions in Kazakhstan”
Read theoretical material of the units 39-40. Ex. pp.85, 87
Get ready for Midterm test. Use material of the units 19-40.
List of main and additional literature
Main literature
1.Professional English in Use Finance by Ian MacKenzie, Cambridge University Press, 2007
Additional literature
1. Business Vocabulary in Use, Oxford
2. Business Grammar Builder by Paul Emmerson, Macmillan, 2006
3. Macmillan English Dictionary for Advanced Learners
4. The Internet.
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