 CHANGEChange is inevitable (can't be avoided). People fear change as it usually comes unexpected and it is not easy to prepare for it. Resistance (being unwilling to do something) is something natural. Good managers are capable of overcoming resistance to change (fighting unwillingness) by preparing their staff for it. Verb + change to accept change - to stop resist A lot of people find it difficult to accept change. to bring about a change - to introduce The government's advertising campaign is an attempt to bring about a change in the way we think about the environment. to resist change - to be afraid and be reluctant to It is natural that people resist change, as they don't want to leave their comfort zone. to undergo change - to go through Our company has undergone major changes over last few years. Adjective + change last minute change - very recent I'm sorry for the last minute change in the agenda. minor change - small The problems of health service won't be solved by making minor changes. noticeable change - significant The has been a noticeable change in his attitude to work. sweeping change - radical The taxation system requires a sweeping change to help the poorest. welcome change - wanted Let's eat out, it will be a welcome change from cooking. Read more about how to OVERCOME RESISTANCE TO CHANGE WITH TWO CONVERSATIONS from Harvard Business Review. Are you resistant to change or do you welcome change?
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 English for Finance - Depreciation DepreciationDEPRECIATION VS. AMORTIZATION When do accountants use the term ‘depreciation’ or ‘amortization'? When they talk about different types of fixed assets (fixed – assets which are not likely to be converted quickly into cash). Depreciation – it is a reduction in the value of a tangible asset (e.g. land, machinery, vehicles, equipment, inventory) over time due to wear and tear. Amortization – it is a reduction in the value of an intangible asset (the one that is not physical in nature e.g. Goodwill, brand recognition, intellectual property) over time. METHODS OF DEPRECIATION The popular methods of depreciation include: Straight-line – depreciation is in equal amounts over the estimated life of the asset. Double Declining Balance - is an accelerated method, which counts as an expense twice as much of the asset's book value each year compared to straight-line depreciation. Unit-of-production - is usesuful when an asset's value is related to the number of units it produces and not necessariliy the number of year it is in use. EXERCISE Let’s compute depreciation using the Straight-line method: Cost – how much the company paid for the asset Salvage Value (residual or scrap value) – the estimated book value of an asset after depreciation is complete Estimated life of asset / Useful life – the estimated number of years the asset is likely to remain in service Annual depreciation – yearly depreciation e.g. The company purchased a car for PLN 40.000 – cost of asset, estimated life – 5 years, estimated salvage value – PLN 8.000 Cost – Salvage Value/Estimated life = Annual Depreciation PLN 40.000 – PLN 8.000/5 years = PLN 6.000 Therefore the annual depreciation of this tangible asset (a car) will amount PLN 6.000. Below you will find the glossary of terms (EN-PL) and a video explaining the above mentioned methods of depreciation: Glossary – EN – PL: Depreciation - amortyzacja środków trwałych materialnych Amortization - amortyzacja środków trwałych niematerialnych i prawnych Assets - majątek, środki Fixed asset - środek trwały Tangible asset - środek trwały materialny Intangible asset - środek trwały niematerialny Reduction in value - spadek wartości Goodwill - wartość firmy Straight-line depreciation - metoda liniowa amortyzacji Declining-balance depreciation - metoda degresywna amortyzacji Units-of-production depreciation - metoda amortyzacji przypadająca na jednostkę wyprodukowaną To compute - obliczyć To purchase - zakupić Salvage / scrap / residual value - wartość umorzeniowa, cena po amortyzacji Estimated life of an asset / Useful life - czas użyteczności środka Annual depreciation - amortyzacja roczna |
AuthorKatarzyna Sawicz 
Key facts:
- teacher of English - interpreter PL-EN, EN-PL - B.A in English Linguistics, M.A in Linguistics, Sworn and Business Translations, Financial Analysis and Reporting - over 18 years experience teaching and designing materials - experience teaching online to individuals and small groups - experience teaching in-company - 3500+ hours of online lessons Archives
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