English for business studies II (B2)

Unit 3 - Check your progress

1. Review of accounting vocabulary

________________________ as of 31 December 20____ (statement of company’s position on a certain date)
________________________ £000 (all the things belonging to the company
________________________ (property and equipment owned by the company)
________________________ 340 (real estate)
________________________ 120 (factory, offices, etc.)
________________________ 100 (equipment)
Total fixed assets 560

________________________ (items used by company for its activities)
________________________ 140 (substances used in manufacturing)
________________________
________________________ (value of goods being manufactured)
________________________ 35 (value of manufactured goods ready to be sold)
35 (people owing money to the company)
Total current assets 210 (money deposited in the bank)

________________________ (all the debts that the company must pay in less than a year)
________________________ (people owed money)
________________________ (money owed to the bank)
________________________ (taxes to be paid)
Total current liabilities 110
Net current assets 100
Net assets 660

Label the following extract from a balance sheet by selecting the correct term from the pairs
of expressions given below the statement, which correspond to the definitions in brackets on
the balance sheet.

 accounts payable / account payables  current liability / current liabilities
 accounts receivable /account receivables  finished good / finished goods
 asset / assets  fix asset / fixed assets
 balance sheet / balances sheet  land / lands
 bank overdraft / bank overdrafts  plant and buildings / plants and
 cash in hand and at bank / cashes in
building
hand and at bank  raw material / raw materials
 current asset / current assets  taxation /taxations
 machinery / machineries  work in progress / works in progress
 equipment / equipments

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2. Accounting synonyms

3.8 Complete the table below with the accounting terms you have seen in this unit
and equivalent expressions you have learnt.

Accounting term Equivalent(s)

balance sheet = statement of financial position
profit and loss account =

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3. Uses of REFER (ACTIVE/PASSIVE)

Language note: REFER / IS REFERRED TO AS / WITH REFERENCE TO

1. As you have seen in this unit, the verb REFERRED TO AS is frequently used to indicate
another name for something or somebody. In this meaning it is often used in the passive voice
and is the same as is called or is known as.

 The profit and loss statement, which is also referred to as the income statement, reflects how well
the company performed during the period presented.

2. The verb REFER can often be used to introduce definitions or explanations. It is similar in
meaning to: make reference to / be concerned with / indicate /mention

 The figures in slide one refer to our overseas sales.
 The new law only refers to law students who have not completed their studies by December 31,

2009.
 In the Letter to the Shareholders the CEO did not refer to the sales of our factories in Germany.
 The figures refer to our results in Europe.

3. WITH /IN REFERENCE TO is used frequently in professional communication to indicate
what something relates to.

 I am writing in reference to the summer placements your firm presented at the job fair held at
Fordham University last week.

Substitute the underlined part of the following sentences with a form of the word 3.9
“refer”. If you use the verb, be careful to use the correct tense, and to put it in the

active or passive form as appropriate. You will also have to put in the necessary

prepositions.

1. Those goods and services that are not considered necessities, but luxurious purchases whose
performance depends on the economic conditions are called  ______________________
consumer cyclicals.

2. Regarding  ______________________ your enquiry, we are pleased to provide you with the
following information.

3. The charts in the last section of the report are concerned with  ______________________ the
on-line sales of our newest models.

4. All the audited documents included in the annual report reflecting the financial situation of a
company are known as  ______________________ Audited Financial Statements.

5. At our weekly meeting the CFO mentioned  ______________________ the dramatic increase
in operating expenses in the last two quarters, but he did not give us any details.

6. Company performance is concerned with  ______________________ how well a company is
doing.

7. The dramatic fall in prices of shares traded on the NY Stock Exchange in October 1929 is called
 ______________________ the Wall Street Crash.

8. “Assets” indicates  ______________________ everything of value owned by a company.

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4. Passive /Active verb review 3.10

Fill in the gaps using verbs from the box in the correct tense and form. Use each
verb once unless otherwise indicated.

belong borrow deduct lend manufacture subtract owe (2)
own purchase spend pay sell (2) touch trade use

1) “Work in progress” refers to goods that __________ still ________________________, i.e. (=in
other words), are not finished or completely produced yet.

2) “Debtors” are people _________________ money to the company.
3) An “overdraft” refers to money __________________ to the bank.
4) “Assets” are things ________________________ to the company.
5) “Operating profits” represent the company's earnings after both direct and indirect costs have

____________________________.
6) You arrive at gross profit by ________________________ direct production costs from

turnover.

7) Lenders such as banks _____________________ money to a company.
8) “Intangibles” are things ___________________ by the company that cannot

_____________________.
9) “Long-term liabilities” are debts that have to _____________________ in more than one year.
10) “Finished goods” are goods that are ready to ________________.
11) “Debentures” (or “bonds” in the US) are capital ______________________ from investors.

12) The amount of money a company __________________ on ____________________ new

equipment or buildings goes under fixed assets.
13) “Raw materials” are basic substances or materials ____________________ by the company to

produce the goods that it then ____________________.

14) A listed company is a company whose shares _________ publicly _________________ on the

stock exchange.

5. Company finance terms 1 3.11

Write the opposite of the terms below.

1. variable costs f ixed costs 6. loss ___________________
7. debtor ___________________
2. income ____________________ 8. profitable ___________________
9. paid ___________________
3. assets ____________________ 10. accounts payable _________________

4. gross ____________________

5. current ____________________

6. Company finance terms 2

Complete the brief descriptions of the main financial statements. The first letter is
provided.

The balance sheet shows the company’s assets on one side and its
l._________________________ followed by s____________________ e___________________
on the other. The two totals should always be equal to each other.
The income statement or (profit and l_________________________ account)
shows the t____________________ along with other income of the company
less all its operating c__________________ or e_____________________ .
The result is the g_________________ profit. When tax and interest have been
deducted, you have the n_________________________ profit or income, which
is informally called the b_________________________ line. It can be
distributed among shareholders as d______________________ and/or
reinvested in the company as r______________________________ earnings.

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7. Key financial documents – Word Building 3.13

Fill in the gaps using words from the box in the correct form.

COLLECTION EXCESS LEND RECORD
CREDIT EXPENSES LOSE SALE
DEBT FINANCE PAY (3) STORAGE
DEPRECIATION INCUR RECEIVE SUPPLY
DECLARATION

1. The people that owe a company money can be referred to as its “____________________” or
“accounts ____________________” . The term for people to whom the company owes money is
“________________” or “accounts ____________________”.

2. In accrual accounting, revenues are ____________________ when they are earned rather than
when they are ____________________ . With this system, liabilities are registered when
____________________, not when they are paid. Consequently, ____________________
invoices and bills would be included in this system.

3. The income statement shows whether the company made a profit or a ____________________ .

4. The term “trade creditors” is another way of referring to the company’s ____________________.
Trade creditors do not include _________________ such as banks.

5. Once the manufacturing process has been completed, finished goods are usually
____________________ in a warehouse.

6. A fixed asset can ____________________ because of age, wear and tear or obsolescence.

7. The percentage that you have to pay back for borrowing money is called “interest
____________________ “.

8. The company’s profits increased by 20% on last year so its current ___________________
situation is healthy.

9. Current assets are used to produce the goods that the company distributes and _________________
.

10. The company _________________ more money on fixed assets than it had expected because of a
fire in one of its warehouses.

11. When the company announced it would be reinvesting all of the net profit in the business, the
shareholders at the meeting were very upset, as this is the third year in a row that the company has
not ________________ a dividend.

12. The company’s expenditure ____________________ its revenues, which had a very negative
effect on its end-of-the year results.

8. Review. Key Accounting Terms using Indirect 3.14
Q u e s t i o n s (available online only)

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U3 notes

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Unit 4 – Company performance

Reading 1. Annual report. Letter from the Chairman

1. Read the CHAIRMAN’S LETTER below and fill in the missing figures by asking your partner to
find the figure in the FINANCIAL HIGHLIGHTS on the next page.

2. Do the other sections of the report as indicated.

On behalf of the directors, I am pleased to announce a further increase in sales, profit and
dividends for this year. Following, as it does, two other record years, I am delighted to report
this result.

The year’s trading Meanwhile, we have done well in Holland, Italy
Operating profit was £16.4 million compared and France as well as substantially increasing
with £______million the previous year. Profit our share of the domestic market in spite of
before taxes was up 29% from £______million growing low-cost competition from Eastern
to £______million. Earnings per share were Europe. Europe currently represents ______%
______ p in comparison with 21.2p in the of our sales. All in all, a highly satisfactory
previous year, and ______p the year before that. outcome to the year’s trading.

The strengthening of the pound sterling by 15% Dividend
against major trading currencies meant that The directors believe that dividends should
sales, which amounted to £______ million, reflect the company's improved profitability. We
progressed more than the ______% increase that therefore recommend a final dividend of 7 pence
the figures suggest. Domestic market sales were per share. With the interim dividend, this makes
up 12% from the previous year and sales a total for the year of ______ pence, up ______
overseas rose by 8%. This rise in volume put pence on last year. The dividend is covered 3
great pressure on our factories, which were times by profit after tax.
already working near to capacity to satisfy the
growing demand for our china. Management and Design and marketing 4.1a
staff responded magnificently. Transform the words to the correct form
for the context. created
Once again our marketing representatives in
Australia, Canada and Japan achieved record New product ranges, (CREATE) by our
results. Although the United States retail scene design team and introduced (RAPID) to all
remained sluggish due to the stagnant economy, world markets, have played a vital role in the
we managed to retain our strong position in this, group's (RISE) turnover and (PROFIT). This
our key overseas market, which still accounts for past year markets were reviewed constantly,
almost ______% of our turnover. with trends (BE) monitored in order to be able to
react (QUICK) to (CHANGE) market demands.
Our (SUCCEED) and rapid penetration of the
Japanese market, in spite of its traditional
protectionism, is now (BE) followed in other
parts of the Asia Pacific region, where two more
branch offices will be opened.

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Technological advances 4.1b remain our aim, and we will invest with this /
Circle the best word for the that/these/those objectives in mind as and when
context. new technology becomes available.

We are now seeing the profits / benefits of our The future
Correct the six errors in the text below.
investment in modern energy-saving production Our company is healthy and vigorous. Not only
we have a loyal, motivated and skilled workforce
equipment / equipments, which has resulted in whom we reward well, but also we have a strong
management team. Despite of we went through
/ from a 20% reduction / increase in unit costs. a crisis, we have also continued invest in capital
equipment to modernise our factories. The
However / Furthermore, computer assistance reputation of our brand at home and overseas is
second to none*. So the directors have little
and robotics are now available to all our doubt that there will be further improvements in
next year results.
designers and decorators at their own work
*second to none- better than anyone else’s
station, which / who has forced / enabled them
Sir Robert Finch
to shorten / increase the time it takes to get a
new design from the designer’s table to the

production line. The president of one of our

mayor / major international competition /

competitors declared on a recent visit that it was

the most successful marriage between

technology and traditional craftsmanship that he

had ever seen. Technical precision together /

joined with a traditional handcrafted finish will

1. Use the figure’s below to complete the Chairman’s letter. Then calculate

the % changes that are missing.

*Formula to calculate % change  (year-previous year)= difference / previous year X 100 or click on
the following link: https://www.calculatorsoup.com/calculators/algebra/percent-change-calculator.php

Whitehall Financial Highlights (in £000)

2015/2016 2016/2017 2017/2018 2018/2019 2019/2020 % change*
116,914 121,600 + 4%
Sales 93,589 96,871 110,250 13,500
1,414 16,400 +21.48%
Operating profit 7,209 5,112 10,397 1,450 +2.5%

Interest 1,972 2,457 1,919

Profit before tax 5,237 2,655 8,487 12,084 15,600 +29%
Profit after tax 3,289 1,487 4,538 6,610 8,545 +29%
1,326 1,336 1,750 2,206 3,022 36.9%
Dividends 27,362 29,729 25,623 26,121 7.95%
Fixed assets 11,468 11,906 8,246 11,372 28,200 -10.3%
10,197 +2.4%
Loans and deferred 49,349 52,697 51,823 60,662
liabilities 62,123 +46%
Total capital employed +36.9%

Highlights for shareholders +1.76%

Earnings per share 11.0 4.9 14.6 21.2 31 p
(pence)

Dividend per share 4.4 4.4 5.7 7.3 10 p
(pence)

Dividend cover 2.5 1.1 2.6 2.9 3.1

*dividend cover is EPS/DPS-the proportion of the profit that was distributed with respect to the total profit

Productivity 10,161 6,918 6,717 6,407 6,520
8.4 14.0 16.4 18.2 19.3
Number of employees
57 38 35 33 33
Sales per employee
(£1000)
Payroll as % of turnover

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Figure 1. 2020 sales by region Asia- Other;
Pacific; 2%

10% UK; 30%
Europe;
USA
18% _____%

Figure 2. Export sales (in £000)/ £ Exchange in dollar

2016 2017 2018 2019 2020

2. Fill in the gaps with the correct preposition. Remember that the prepositions you use after

verbs indicating change are not the same as the ones you use after nominal structures

indicating change.

In Asia sales were up 54.4% 1______ £11m and the company made an operating

profit 2______ £2m, up 155.6%. 4.2

Overall Whitehall achieved sales of £121.6m, up 4% 3_____________ last year

and made a net profit 4_____ £8.5m. This upward trend is expected to continue over the next

five years. Net interest payable, which was still high at 10%, remained stable 5______ £1.4m.

Tax was charged 6______ a rate of 45%. Dividends per share increased 7______ over 35%

8______ 10p, which was the final total for the year (7.3p the previous year).

The Board declared an interim dividend 9______ 3p. This represented an increase 10______

12% 11_______________ last year.

Net debt increased 12______ £2m 13______ £62.1m (£60.6m the previous year) with fixed
assets increasing 14______ £28.2m, reflecting the company’s growth programme at home and

overseas. Go to Worksheet 4.1 p.157

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3. Fill in the chart with the verbs or expressions of movement that you found in the texts,
indicating upward movement. Then complete the chart with verbs you know to show just the
opposite, namely downward movement.

Find one expression which indicates no movement and complete the chart with others that
you know.

Upward movement Downward movement No movement

to be …

4. Prepositions - amount and difference

Look at the following sentences taken from a text reporting on the balance sheet and the
income statement.

 Shareholders’ equity increased by a further £1.15 million ...
 This left a final balance of £8.75 million ...

Now complete the sentences below with the correct prepositions. 4.3

1. When current liabilities are subtracted ____ current assets, there is a net

balance ____ £50,000.

2. Debtors have increased ____ last year's figure of £25,000 ____ a total ____ £48,000.

3. Our bank loan has decreased ____ 10 percent, so a balance ____ £25,000 remains.

4. The bank overdraft stood ____ £l8,000 last year. It has been reduced ____ £5,000 this

year and now amounts ____ £13,000.

5. There has been an increase ____ 2 per cent a year ____ interest payments.

6. The stock is valued ____ £1.3 million.

7. Earnings rose ____ 45p ____ 60p last year, an increase ____ 33.3% ____ the previous
year’s earnings figure. In other words, earnings rose ____ 33.3% over the previous year.

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5. Use Whitehall’s FINANCIAL HIGHLIGHTS and graphs to write four sentences using
language of change.

Example: Cost of sales was down 15% compared with the previous year.

_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________

Language note; VERBS DESCRIBING PERFORMANCE
1. The following three verbs are used to express a final figure at the end of a period for items such

as sales, profits, investments.

 Sales in Europe totalled $2.3m in the first quarter of 2021.
 Retained earnings amounted to $142,500 in 2020.
 Our turnover for 2020 was $34b.

2. Growth is not always expressed in numerical terms. When describing performance in more
general terms the following verbs are frequently used:

 This acquisition significantly improved /strengthened Hewlett Packard’s competitive position.

Practice reading and writing figures
1. Listen to your teacher and write the figures (s)he
dictates.
…………………………………….
…………………………………….
…………………………………….
…………………………………….
…………………………………….

Language note. MONEY, SYMBOLS AND POSITION

Use of commas and decimal points
Use commas, not decimal points, to separate billions, millions and thousands. There are usually
three numbers after the commas.

 Since 2000 it (Inditex) has more than doubled its number of shops to 2,240 …, with sales of more
than €5 billion ($7 billion).

In English, we use points, not commas, to show decimals.

 The euro is worth about $1.22 on the foreign-exchange markets.
 A Big Mac costs €2.92, on average, in the euro zone and $3.06 in the United States.


Currency symbols
Be sure to place currency symbols before the numerical figure.

 Lehman Brothers, a rival of Morgan Stanley's, reported a net profit of $683m for the quarter ending
May 31st, 12% more than a year before. The Economist June 21st 2020

 Within weeks the firm (British Energy) was reporting nine-month losses of £349m (about $645m)…

Go to Communication File 1A p.127/1B p.129

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The Internet in numbers 4.4

Below are some of verbs you learned first semester that are frequently confused. Try to
complete the sentences below using the correct verb.

AMOUNTED TO – ACCOUNTED FOR – HAD – ROSE –THERE WAS/WERE

1. The number of emails sent on the Internet _____________________ 90 trillion (9 X 1012).
2. Spam (correos basura) _______________________81% of emails that were sent.
3. Spam _________________________ by 24% on the previous year.
4. _________________ 234 million websites as of the date this information was published.
5. Internet _____________________ 1.73 billion users worldwide as of September.
6. _________________ an 18% increase in Internet users on the previous year.
7. The number of Internet users in Europe ________________418,029,796, which

___________________ nearly 25% of all Internet use.
8. Europe _____________________ 10% more Internet users than North America.
9. Skype __________________ a 12% share of the international call market.
10. The number of photos that were uploaded to Facebook ___________________ 2.5bn.
11. You Tube _____________________ a 34% video market share in the USA.
12. International Skype calls ____________ by 33 billion minutes from 21 billion minutes to 54 billion

minutes.

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Verbs of change, value and growth

Below are some verbs you learned in Unit 2 as well as other verbs to indicate changes in value and
size. Not all verbs of change, value and growth can be used interchangeably in any context.
Look at the following sentences taken from annual reports of several pharmaceutical companies.

Decide which of the verbs given can be used and which ones cannot. In some 4.5
sentences more than one verb or even all the verbs may be suitable. As you do
the exercise, decide which verbs are transitive, intransitive or both and complete
the grid below.

1. In 2020 we continued to rise / increase / grow our investment in R&D.

2. Dividends increased / rose / raised for the 34th consecutive year, allowing us to deliver a

total return to shareholders of 27 percent.

3. We expanded / strengthened / increased our presence in the rapidly growing vascular

market.

4. Our sales per employee have grown / gone / risen up by more than 45 percent since 2019.

5. These two new products will help to boost / grow / increase profits in 2018.

6. Abbott’s short and long term debt amounted / totalled / valued $12.4 billion at the end of

the financial year.

7. Sales reduced / declined / decreased in Europe due to generic competition.

8. We are committed to rising / strengthening / improving the standard of care with product

innovations.

9. Administrative expenses increased / rose / boosted 15.5 percent in 2019 compared to an

increase of 11.7 percent in 2020.

10. In 2020 our global community investment amounted / totalled / was to $302m, equivalent

to 3.9 per cent of group profit.

11. Anti-bacteria sales went / fell / were down 9% due to a weaker flu season.

12. The company’s total turnover grew / increased / rose 9% to £23.2 billion.

13. Continued financial strength enabled the company to increase / raise / lower the 2020

dividend to 48 pence, up 10% from the previous year.

14. With the elimination of 10,000 positions we hope to reduce / lower / decrease costs by up

to $5 billion.

15. Total sales of HIV products were / amounted to / totalled £1.5 billion, down 1%.

16. In Europe sales rose / were / grew up 24%, driven by the increasing use of Avandia.

17. Cost of sales declined / reduced/ decreased 4 per cent.

18. The company rose / increased / raised the first quarter dividend by 21 percent.

19. We intend to drop / lower / reduce our absolute costs by up to $2 billion by the end of next

year.

20. Those two products experienced / had / experimented a decline in revenues of

approximately $2.5 billion compared to the previous year.

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TRANSITIVE INTRANSITIVE BOTH

What two verbs can be followed by the particles up / down? ______________-

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Reporting changes by comparing figures

The language of change is not the only way to compare performance
figures. A variety of comparative structures can also be used.

ABC 2020 2019 2018

Turnover $18,000,000 $9,000,000 $3,000,000

Overheads $1,350,000 $920,000 $1,230,000

1. Using comparatives

 ABC’s turnover in 2019 was much higher than in 2018.
 ABC’s turnover in 2019 was three times as high as / three times higher than in 2018.

Language note:

TWICE cannot be used with ER/MORE comparative structures
You cannot say “twice higher than” . You must say “twice as high as”.)

 ABC’s turnover in 2020 was twice as high as / twice higher than in 2019.

You cannot use the adjective LOW, i.e. you cannot say “twice as low as”. You must say “half
as high”.

 ABC’s turnover in 2019 was half as high as / twice as low as in 2020.

 ABC’s turnover in 2019 was $6m higher than in 2018.
 ABC’s turnover in 2019 was triple that of 2018.
 ABC’s turnover in 2019 tripled that of 2018.
 ABC’s turnover figure in 2019 was up 200% on/from 2018.
 ABC’s overheads in 2019 were 25% lower than in 2018.
 ABC’s overheads in 2019 were not as high as in 2018.
 In 2019 ABC’s overheads were down more than 25% compared with 2018.
 ABC spent 25% less on overheads in 2019.

2. Comparing - Using expressions “compared with / to – in comparison with”
This is the most frequently used way to express comparison, for example, of a company’s

performance over two years.

 The company’s turnover was €55.5m, compared with €49.7m the previous year.
 45% of the bank’s net income was earned in the corporate sector, compared to 41% a year earlier.
 In 2019, the company was valued at $7bn, in comparison with $6.2bn in 2018.

3. FROM

 Net profits doubled to €154m from €77m a year earlier.
 In 2019, total sales amounted to €747bn, up 5% on/from 2018.

4. Expressing percentage change

The following structures are often used to indicate the percentage change:

 In 2019 sales in the UK totalled £73m, up 18 % from/on the year before.
 Earnings per share were 95.5 pence, down 6% compared with 2018.
 MediaLogic reported first quarter revenues of $62m, representing an increase of 87% over the same

quarter in the previous fiscal year.

As in reports, in oral presentations, we tend to use rounded figures, together with adverbs to indicate

to the reader/listener that these figures are approximate.

approximately

around

Our gross profit for 2021 is expected to be roughly $5m.

slightly over/under

just over/under

Go to Worksheet 4.2 p.161

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Video 4.1b – SWOT (slide show)

The SWOT analysis template is normally presented as a grid, comprising four sections, one for
each of the SWOT headings. Watch the video and then complete the missing information.

Video 4.1c – PESTLE analysis 4.6

Political -
stability
high/low
taxes

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Strengths, Weaknesses, Opportunities, and Threats Analysis

Strengths Weaknesses

 What are your business advantages?  What areas are you avoiding?

 What are your core competencies?  Where do you lack resources?

 Where are you making the most money?  What are you doing poorly?

 What are you doing well?  Where are you losing money?

  What needs improvement?





Opportunities Threats

 Any beneficial trends?  Obstacles to overcome?
 Niches that competitors are missing?  Aggressive competitors?
 New technologies?  Successful competitors?
 New needs of customers?  Negative economic conditions?
  Government regulation?
  Changing business climate?
  Vulnerabilities?


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Writing workshop

1. What makes a good paragraph?

Being able to write a clear coherent paragraph is an essential skill for all professionals.
Check to see if you have a clear concept of what a good paragraph is by deciding whether the
following statements are true or false.

1. A paragraph is simply a group of sentences about the same topic.
2. In professional writing the topic sentence should be the last one in the paragraph.
3. All the information in the paragraph should be related to the topic sentence.
4. A paragraph is made up of several sentences written “punto y aparte”.
5. In a good paragraph the sentences are joined together using several cohesive devices.
6. If a paragraph is supporting a certain point, for example, the advantages of a system, any

disadvantage you mention should be in a subordinate clause.
7. It is perfectly acceptable to change the topic of the paragraph whenever necessary.

2. What is cohesion?

In addition to indicating what the subject of the paragraph is in a well-written topic sentence, a good
writer should join the supporting ideas by using suitable cohesive devices, which can include
demonstrative pronouns, adverbials, prepositions or conjunctions.

a. Decide which of the following would be the best topic sentence after reading the
paragraph below.
a) First of all, Tedesco increased both sales and profits in the UK in the first half of 2020.
b) Tedesco increased its presence outside the UK significantly in the first half of 2020.
c) The first half of 2020 was a period of growth and expansion for Tedesco.

b. Complete the text below with the missing linking words.

Tedesco-Key achievements in 2020

(Topic sentence) ………… This was reflected in its positive results last year. Profits

1__________ with volume of sales increased in the UK 2__________ as in the
rest of Europe. Tedesco is seen as a key player in the food store sector
3__________ at home and abroad. 4___________ to increasing its market share
in the UK, Tedesco strengthened its international division through local
consolidation. 5__________ did Tedesco acquire major supermarket chains in
Turkey and Japan, 6__________ it 7__________ opened 16 new hypermarkets
in six different countries. 8__________ factor that contributed to Tedesco’s
success was its diversification strategy. Last year it increased its total volume of
non-food sales significantly. 9__________, it expanded its range of products by
adding a new clothing brand.

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3. Using cohesive devices to relate or connect ideas logically

4.7a 3.0 Pretest review. Complete the sentences with a logical connector (words
or expressions) in the box. Pay special attention to the punctuation.

ALTHOUGH GIVEN THAT THANKS TO
CONSEQUENTLY IN ADDITION WAS DRIVEN BY
DESPITE IN CONTRAST WHICH IS WHY

1. Turnover was up 4%. __________________, gross profit rose 2%.
2. Turnover was up 4%. ___________________, net profit dropped by 2%.
3. _______________ turnover was up 4%, net profit dropped by 2%.
4. _______________ a 4% upturn in turnover, net profit dropped by 2%.
5. Turnover was up 4%. _______________, we cannot understand the 2% drop in net profit.
6. Turnover was up 4% , ________________ we cannot understand the 2% drop in net profit.
7. Turnover was up 4% ________________ the success of the new marketing campaign.
8. Turnover was up 4% ________________ the new marketing campaign was so successful.
9. The 4% rise in turnover _______________ the success of the marketing campaign.

The linking words which appear in the following pages are essentially a review of all the linking
words and expressions that you have seen this year.

3.1 Adding information

Adverbials Conjunctions Prepositions Demonstrative Adjectives
(join ideas) (join clauses or (+ nominal structure Pronouns to
nominal structures) or gerund) refer back to both
In addition, something another + sing
Moreover, and in addition to mentioned other + plural
Furthermore, not only …, but as well as previously (an) additional
also (a) further
as well (+also/as well*) along with this +singular
together with these +plural

Language note: *NOT ONLY….BUT

This structure is usually balanced, so the same kinds of words follow not only and also.

As you saw first semester, when not only is used at the beginning of a sentence to join two clauses,
the verb which follows it takes the interrogative or inverted form.

 Not only is Tedesco a market leader in the UK, but it is on track to achieve a leading position in its
developing markets as well.

 Not only does Tedesco organise marathons to raise money for cancer research, but it also donates money
to schools for computers.

However, this structure can also be used to join similar structures (nouns, gerunds, verbs).

 Tedesco offers its customers the possibility of not only shopping on line, but also opening customer
accounts.

 Tedesco not only sells food but also distributes non-food articles such as stationery and magazines.

109

a. Invert the introductory phrases below using NOT ONLY.
1) Sales have risen by 9%. Not only .................................................................................................
2) UK sales grew by 6.8%. Not only .................................................................................................
3) In Europe, turnover was up $113m. Not only................................................................................
4) AZ set up an R & D centre in China. Not only..............................................................................

ALSO

a. Never at the beginning of a
sentence.

b. After the verb TO BE (is, are,
was, etc.)

c. Before main verbs.
d. After BEEN in continuous forms

“BEEN [ALSO] DOING”

5) It plans to establish collaborations with major medical centres. Not only ....................................
b. Indicate where ALSO should be placed in the sentences below.

1) Sales have risen by 9%.
2) UK sales grew by 6.8%.
3) In Europe, turnover was up $113m.
4) AZ set up an R & D centre in China.
5) It plans to establish collaborations with major medical centres.
6) Tedesco may enter the wholesale foods sector.

c. Rewrite and/or join the following sentences using the word/s given in italics to obtain new
sentences with the same meaning. In some cases, you may need to write two sentences.

Language note

BOTH…AND
This structure is usually balanced, so the same kind of words follow both and and.

 Tedesco has plans to expand its business in both Asia and North America.
 Tedesco intends to sell its new clothing brands both in its shops and on line.

ADDITIONAL - IN ADDITION - IN ADDITION TO
All of these expressions can be used to indicate another item related to the topic being discussed.
However it is important to note that they are used differently.
ADDITIONAL is used as an adjective, directly before a noun. Synonyms: further, another/other

 One of our main problems is that our technology has become outdated. An additional problem is the
company’s limited production capacity.

IN ADDITION is used as an adverbial, directly before a subject + verb.

 Our outdated technology is not the only problem the company is facing. In addition, we need to
expand our production facilities.

IN ADDITION TO is used as a preposition, directly before a gerund or noun. Synonyms: as well as

 In addition to having to invest in new technology, we need to expand our production facilities.

1. There was a rise in turnover. There was a reduction in operating costs.
 not only … but (also)
……………………………………………………………………………………………………
……………………………………………………………………………………………………

2. Tedesco opened new stores in Japan. It expanded its existing network in Thailand.

110

 not only … but (also)
……………………………………………………………………………………………………...
 as well as
……………………………………………………………………………………………………....
3. Increased competition led to the decline in sales in the US in 2014. The depreciation of the dollar
also made sales go down.
 not only … but
……………………………………………………………………………………………………..................................................
……………………………………………………………………………………………………...................................................
 in addition to
…………………………………………………………………………………………………….....
……………………………………………………………………………………………………...................................................

Expressions of addition – Typical errors

The following sentences contain mistakes which are frequently made when using the
structures we have just seen. Find the mistake in each item and correct it. Some of the
corrections simply involve changing a word and others involve rewriting part of the sentence.
1. Carly Fiorina radically restructured Hewlett Packard during her years as CEO. In addition to, she

was responsible for the controversial merger with its main competitor, Compaq.

2. Both, our European division and our subsidiary in Asia, have boosted their turnover by over
20%.

3. Not only has the company invested heavily in cancer research in the last 5 years, but has
launched generic pharmaceuticals in several third world countries as well.

4. H & M continues to diversify its range of products and services. In 2012 it began to sell its
clothing on-line. Also now they are planning to launch a fashion accessory retail chain in 2016.

5. Ford took several measures to reduce its costs. As well as it closed one of its factories in Detroit,
it outsourced some of its production to a subsidiary in India.

6. Not only CMW Ltd took over three Canadian companies in 2015, but it also built a production
facility in Madras.

7. We have recently opened ten 24-hour service stores in downtown Tampa. Other area of
expansion in the near future will be the introduction of on-line sales.

111

8. Procter and Gamble is headed by Bob McDonald, who has been its President and CEO since
2010. In addition, it manufactures and sells its products under leading brand names, including
Pampers, Ariel, Pantene, Crest and Olay.

9. As a result of its expansion policy, this company presently has over 520 restaurants in 26 states,
as well as its net worth has reached roughly $475,000.

10. Not only has 3M developed a range of unique products over the last 100 years, but also it has set
up plants and sales offices in over 200 countries.

11. From January to November, revenues went down considerably as well as net profit.

112

3.2 Cause and effect 2 3 4
ADVERBIALS VERBS PREPOSITIONS
1 Connect a
CONJUNCTIONS sentence logically Followed by a nominal structure or a
to a previous gerund.
Connect sentence sentence.
clauses this is because result from, arise as a result of, because
clause + clause
2 from, (be) attributed of, due to, owing to,
A because, since, as, ADVERBIALS
Introducing a given that Connect a to,( be) the result of, thanks to*, on account
reason, cause sentence logically
to a previous (be) driven by* of, in view of, given +
sentence.
as a result, nominal structure.
consequently,
1 therefore, this is why, 34
CONJUNCTIONS because of this,
VERBS PREPOSITIONS
Connect sentence
clauses Followed by a nominal structure or a
clause + clause gerund.

B with the result that, so lead to, result in,
Introducing a give rise to, bring
consequence about, cause*,
or result make*

*= see box below

Language note

CAUSE

1. CAUSE + nominal structure only introduces NEGATIVE information.

 The advertising campaign caused an increase in sales.
 The negative publicity caused a dramatic drop in sales.

2. You can also say cause sth to (happen) with negative news.

 The negative publicity caused sales to drop dramatically.

MADE
You can also say make sth (happen) with either positive or negative news.

 The negative publicity made sales drop dramatically.

THANKS TO

THANKS TO+ nominal structure only introduces POSITIVE information.

 Thanks to the advertising campaign, there was an increase in sales.
 Thanks to the negative publicity, there was a dramatic drop in sales.

DRIVEN
The verb “to be driven by” is frequently used to indicate the reason for growth, rise,
improvement, progress.

The 5% rise in Whitehall’s profits was driven by the sale of Paxil, up 15%.
Prescott’s strong performance was driven by the improvement in sales of key pharmaceutical products.
Sales in the US increased 10%, driven primarily by increased sales of diabetes care products.

 For further study of cause & effect structures, go to 2.3 in the Unit 2 Grammar

Reference section. (pp 60-61)

113

a. Fill in each gap with an appropriate expression using a form of the word RESULT, 4.7b
except the ones indicated with a *. Then provide a synonymous CAUSE / RESULT
expression.

1. A new production system was implemented in 2020. As a result, = Consequently , direct costs

were reduced sharply.

2. The new production system that was implemented in 2020 _____________ = _____________ a

sharp reduction in direct costs.

3. A new production system was implemented in 2020, _____________ = _____________a sharp

reduction in direct costs.

4. Direct costs were reduced sharply in 2020 _____________ = _____________the efficiency of

the new production system.

5. Direct costs were reduced sharply in 2020 * _____________the new production system proved

to be highly efficient.

6. The sharp reduction in direct costs _____________ = _____________the implementation of a

new production system in 2020.

7. Direct costs were reduced sharply. * _____________ a new production system was implemented

in 2020.

8. A new production system was implemented in 2020 _____________ = _____________direct

costs were reduced sharply.

b. Underline the result in the following sentences. Then rewrite the sentences.
1. The sharp decrease in revenues resulted from the expiration of two of the company’s patents.

(THEREFORE)

2. Productivity improved because of the reorganisation of the company. (LED TO)

3. As a result of the devaluation of the euro, oil prices increased considerably. (WITH THE
RESULT THAT)

4. Global income increased by 2% last year because new products were launched. (DRIVEN BY)

5. Profits in the US fell moderately because the exclusivity on two products was lost. (ATTRIBUTED)

6. Five hundred workers were dismissed as a result of the closing of three plants. (RESULTED)

Go to Communication File s 3A p.120 & 3B p.121

114

3.3 Expressing contrast / concession

Indicating contrast CONJUNCTIONS ADVERBIALS PREPOSITIONS
(neutral) Connect sentence Connect a sentence logically Introduce a nominal
clauses to a previous sentence. structure or a
clause + clause gerund
whereas, while on the other hand, in contrast in contrast with, in
contrast to, unlike
Indicating concession but, although, even however, nevertheless*, even so,
in spite of, despite

(an unexpected though, yet

result)

*more formal

LOGICAL RESULT.

 I passed the exam because I studied.

 The company did not make a profit because of the negative economic climate.

UNEXPECTED /ILLOGICAL RESULT.

 I didn’t pass the exam although I studied.
 The company made a profit in spite of / despite the negative economic climate.

As you know the above items can all be used to express a certain form of concession / contrast.
Concession is a relationship of contrast in which there is an implication of something unexpected.
Words or phrases commonly used in English to indicate concession are "however”, nevertheless,"
"despite," "in spite of," "even so," and "although."

Working with a partner try to join the following two sentences in 4 different ways.

1. Tiko Ltd. reduced its staff considerably. It was not able to make a profit last year.
a) (ALTHOUGH)......................................................................................................................……….
…….........................................................................................................................................................
b) (HOWEVER)........................................................................................................................……….
c) (DESPITE)..................................................................................................................………………
d) (YET).............................................................................................................................…………….

2. Revenues have risen by 2% from last year. Profits have fallen by 6%.
a)
(WHEREAS)...........................................................................................................................……….
b) (CONTRAST)........................................................................................................................……..
c) (UNLIKE)............................................................................................................................……….

Further practice online

4.7c

115

4. Paraphrasing

It is important to paraphrase in order to avoid plagiarizing. A paraphrase is unacceptable when the
text you write is too similar to the original and when it contains the same vocabulary and sentence
structure as the original. Paraphrasing means summarising the same thing in your own words

4.1 Changing grammatical structures from verb to noun, adjective to adverb, etc.
a) Identify whether the following are nominal structures or sentences.

Then:
b) if it is a sentence, change it to a nominal structure / if it is a nominal structure, change it

to a sentence.

1. 185,000 people are employed by Kellogg worldwide.
185,000 Kellogg employees worldwide

2. A significant increase in Kellogg’s cereal sales during the Depression.

3. The company has continuously improved its product line over the last 100 years.
4. The addition of a second Kellogg Mexican plant in the 1990’s.

5. The demand from the Latin American market has grown sharply.
6. An expansion of the company’s consumer nutrition information program in the 1960’s.
7. Revenues only rose slightly in the early 1990’s.

4.2 Using apposition to provide or clarify information given. 4.8

Insert the appositions below in the appropriate sentence.

a) a property tycoon
b) the German-US car giant
c) a low-cost Spanish airline
d) the second-largest American newspaper publisher
e) the world cereal leader
f) its Chief Financial Officer
g) a leading securities class-action lawyer who has been involved in a seven-year federal

investigation

1. Gap Inc. announced that Byron Pollitt, ____ f_____, is leaving the retailer to join another
company.

2. Kelloggs, _______, is based in Battle Creek, Michigan.
3. Vueling, ________, was launched in July 2004.
4. DaimlerChrysler, ________, posted weaker second quarter profits today.

5. William S. Leach, ________, is resigning from his post at his law firm.

6. Shareholders of The National Tribune, ________, voted overwhelmingly in favour of a buy-out
plan backed by Sam Zell, _______.

Go to Worksheet 4.3 p.163

116

4.3 Paraphrasing and summarising
You can paraphrase original sentences, saying the same thing in your own words, thereby
avoiding PLAGIARISM, by:
1. Changing the vocabulary by finding synonyms.
2. Changing grammar structures from verb to noun, adjective to adverb, active to passive, etc.
3. Changing the order, and adding or removing words.
4. Using apposition, relative clauses and connectors to clarify or relate the information given.
The difference between PARAPHRASING and SUMMARISING is that when you summarise, you
eliminate unnecessary words, and considerably reduce the number of words in the final
version.
1. Paraphrase the following sentences using the above techniques.
1. Although it started as a little shop in Arteixo in 1990, by 1995, Zara had retail outlets all over

Spain.

2. Microsoft, an important global software developing and manufacturing company, sells many
different software products for servers and PCs.

3. Over the last three quarters there has been a 10% increase in Microsoft’s profits.
4. For the fiscal year 2020 the company’s revenues were $34 billion.

5. With 125,000 workers, the company has offices and distributors in over 90 countries.
6. Today HP’s headquarters are in Palo Alto, California, where the two founders initially set up the

company.

7. Sales decreased dramatically in the last quarter of 2020.

8. As a result of the takeover of its Brazilian competitor, the company is now worth $200m.

9. The company has made an important effort to get over the crisis.

10. The drop in share prices was due to gossip that the CEO was thinking of resigning.

117

4.4 Combining information with prepositions and relative clauses

Language note Using THROUGH / BY /WITH to add information

To express the way in which something was done, the prepositions through, by and with are
used.
By is followed by an –ing verb. Make sure the subject of the –ing verb is the same as the subject
in the main clause.

 Tedesco expanded its range of products by adding a new clothing brand.
 Tedesco strengthened its international division by consolidating locally.



Through / With are followed by a nominal structure.

 Tedesco strengthened its international division through local consolidation.
 Tedesco expanded its range of products through the addition of a new clothing brand. (Normally

answers the question HOW)

 Tedesco has recently broken into the Central Florida market with the opening of six supermarkets.
 Tedesco exported much more with the weaker pound.
 Tedesco operates worldwide with stores in over 120 countries. (Normally can be used to replace the

verb HAVE or a Possessive ‘s)

1. BY - THROUGH - WITH – AS WELL AS
The following information is taken from the company profiles of four leading cosmetic
companies. Join the following sentences using one of the following prepositions: BY,
THROUGH, WITH, or AS WELL AS. Make sure you use each preposition at least once.
1. L’Oreal has 52,000 employees worldwide. L’Oreal has a presence in five continents.
2. In 2006, L’Oreal strengthened its image as an environmentally-friendly company. It acquired

the Body Shop.
3. L’Oreal produces beauty products. L’Oreal is a leader in dermatology research.

4. At the end of the 19th century Shiseido revolutionised the Japanese pharmaceutical market. It
introduced western-style pharmaceuticals.

5. The company operates in nearly 120 countries worldwide. Estée Lauder’s global turnover
exceeded $14 billion in 2020.

6. Shiseido produces makeup and skin-care products. Shiseido operates a chain of fashion
boutiques, hair salons, and health food shops.

7. In recent years Revlon has tried to offset its financial losses. It has sold several divisions.

2. Two complete relative clauses back to back in one sentence is considered poor
style, which is why it is important to use reduced relative clauses in your writing.
Join the following sentences, using one complete and one reduced relative clause.
1. Despite its international scope, the company is still controlled by the Lauder family. The Lauder

family owns over 90% of the voting shares. The voting shares are valued at roughly $24.3
billion.

2. Revlon was founded in 1932. Revlon started with a single product. It was a nail enamel. This
enamel was sold in a wide variety of shades.

118

Language for making a recommendation

In a report, we tend to use the verbs suggest and recommend.

Look at the following structures:

PERSONALISED STYLE FOR ORAL PRESENTATIONS

To suggest/recommend sth  I suggest/recommend a dividend of €0.50./
Inditex as a profitable investment.

To suggest/recommend + gerund  I suggest/recommend (the company’s) paying
out a dividend of €0.50./investing in this company.

To suggest/recommend (that) +  We suggest/recommend (that) the company
clause with should+ inf verb form should pay out a dividend of €0.50.

SUGGEST cannot be used with I suggest to pay out a dividend of €0.50.
(IO) to + inf structure. We suggest you to invest in this company.

IMPERSONAL STYLE FOR WRITTEN REPORTS

“suggest” or “recommend” can  It is recommended that the company pay out a
be used in the impersonal passive dividend of €0.50. (2nd verb should be in the
voice structure, which is more subjunctive form) / that investors wait to see how
appropriate for a written report. the company performs over the next few years
before investing.
To suggest/recommend (that) +
clause with subjunctive verb form  It is suggested (that) the company pay out a
dividend of €0.50./ that you consider investing in
this company.

Use the adjectives “advisable” or  Based on its future prospects, we think it would
“recommendable”. be highly recommendable (for you) to invest in
this company in the short term.

 in view of its results, Company X is highly
recommendable as an investment option.

 It would be advisable / recommendable for the
company to increase its investment in R & D.

119

Introducing and referring to other

speakers

 My name is Juan Garcia (Financial Director)

and these are my colleagues, Ms. Gomez (who
was in charge of …) and Mr. Ruiz, (the

Assistant Financial Controller).

 First, I will…Then, Mr. Ruiz will and finally
Ms. Gomez will…

 Now I’d like to hand you over/turn this
presentation over… to Mr. Ruiz, who will be

Summary of useful talking about/explaining/etc.
expressions for
 Thank you, Juan. Mr. Garcia has just told you
about/explained … Now, I’m going to …

presentations 2. BODY
Introducing topics
1. BEGINNING  I'd like to review...
Introducing yourself/others  I want to discuss...
 My name is…. and these are my colleagues  I'm going to analyse...
 I shall go over/consider/cover/talk about...
(Mr. A) and (Mr. B).
 I'd like to introduce...
 May I introduce... (John Peters) from (BT).

 Let me introduce... Introducing visuals
 I'd like to introduce myself. My name is…  This slide/graph/illustration shows…
 Let me introduce myself. …
 I'd like you to look at this graph...

Structuring  Let's have a look at this model...
 This morning To illustrate my point lets look at...
 Today I am/we are going to… (talk about...)  As you can see from these figures...
 If you look at these illustrations, you'll see...
I’d like to... (describe...)  If you look at this bar chart you'll notice...
We’d like to…  In the upper left hand side/In the center/in the
 lower right hand corner/on the left you can
 The aim of my presentation this morning is see…

to... (explain...)

 We've divided our presentation (three parts)

into

 My talk will consist of Referring backwards and forwards

Preliminary outline of talk  My colleague mentioned the importance of Y
earlier….
First, I'd like to... give you an
 As (Mr. Garcia) told you before, …
overview of...
 Let's look back for a moment...
Second, deal with...
Then,  To go back to...
After that, I'll … move on to...
 As I said before, ...
we'll … focus on...
 (Mr. Rodriguez) will explain this in more detail
(Mr. Garcia) will describe…
later.
…  We’ll come back to this point later.

Finally, tell you about...

 Firstly ... Secondly ... Thirdly ... Referring to common knowledge
 To start with ...  As you know, ...
 Next...  As I'm sure you're aware, ...
 Then... 
 To begin with... Adding
 After this...  In addition...
 Finally...  I would like to add that...

Referring to questions  Furthermore...
 Feel free to interrupt me if there’s anything  Moreover...
 Not only ... but also...
you don't understand.  As well as... there is also...
 If you don't mind, we’ll leave questions till the

end.

120

Checking understanding  Let me now just recap...
 Is that clear?  Now, I’d like to go over the main points …
 Are there any questions?  Before we finish, I would like to remind you

Moving on of….
 Let’s now move on to...
 I'd like to go on to... Concluding
 Next, I want to...  That concludes my presentation/talk.
 This brings me to...  Let me end by.../I'd like to finish by...
 That completes my (description of X). Now  This brings us to the end of our presentation.
 I hope the information we have provided/the
(Mr. Rodriguez) will…
ideas we have presented has/have been…
3. ENDING  I'm afraid that’s all we have time for. If anybody

Summarizing has any further questions please come up and
 To sum up then, ... ask me. Thank for your attention.
 To summarize the main points...  I'd like to thank you all on behalf of
 To recapitulate, ...
 Let me now sum up...

121

Communication Files Student A

File 1A Numbers

Say these numbers to student B as you would say them if you were speaking. Then write the
numbers he dictates to you in column B.

Column A Column B
$240.20 slightly under $250

£3.8bn
29.32%
45,078
1.87p

File 2A – Describing graphs and charts

Dictate the following phrases to your partner. S/he has to dictate the ending of the phrase to
you. Write it in the space provided below. Then exchange roles.

an upward ....................................................................................................................................
As you can see.............................................................................................................................
It finished up at............................................................................................................................
Let’s look ....................................................................................................................................
There have been slight ................................................................................................................

............................................................................................................................. last six months
............................................................................................................................our initial target
....................................................................................................................region of one million
.................................................................................................................... sharp rise in demand
.......................................................................................................................under fifty per cent

122

File 3A Talking about reasons changes in share prices

Company Reason Change in
share price
(DUE TO)
investigation of its CEO for fraud. 35%

a) Ask your partner what happened to the share prices in the following companies and the
reasons for the changes. You will have to modify the information given to make a
grammatically correct sentence.

Due to the investigation
of its CEO for fraud, its

shares dropped by
35%./there was a 35 %
drop in its share prices.

b) Take turns asking for and providing the information below. When you ask, fill in the
missing information. Try to write it out as a complete sentence using the LINKING
EXPRESSION provided in ( ).

Company Reason  Change in
share price

FILDMAR (LED TO)
Fildmar was acquired by King Capital.
30%

TARBO (CONSEQUENTLY) 70%
OIL Wesart defaulted on its loan 250%
90%
(THANKS TO)
Tarbo Oil discovered a new oil field.

(SO)
Gust Mining is being sued for

environmental damage.

123

Communication Files Student B

File 1B

Say these numbers to student B as you would say them if you were speaking. Then write the
numbers he dictates to you in column B.

Column A Column B
slightly under $250
$240.20

11.2%
¥14,235,896
€0.55
98%

File 2B

Choose the phrases that best complete the first part of the phrase your partner dictates. Dictate
the answer to your partner and write the part you are missing space provided below. Then
exchange roles.

............................................................................................. at the figures more closely.
....................................................................................................................in this graph,
.................................................................................................................................trend
...................................................................................................................... fluctuations
.......................................................................................................... roughly ten million

Just ...................................................................................................................................
With sales in the ..............................................................................................................
There has been a ..............................................................................................................
Over the ...........................................................................................................................
We finished well below ...................................................................................................

124

File 3B Talking about reasons changes in share prices

a) Ask your partner what happened to the share prices in the following companies and the
reasons for the changes. You will have to modify the information given to make a
grammatically correct sentence.

Due to the investigation
of its CEO for fraud, its

shares dropped by
35%./there was a 35 %
drop in its share prices.

b) Take turns asking for and providing the information below. When you ask, fill in the
missing information. Try to write it out as a complete sentence using the LINKING
EXPRESSION provided in ( ).

Company Reason  Change in
share price
FILDMAR (RESULTED IN)
20%
MK Pharmaceuticals was restructured.

(GIVEN THAT) 22%

HRT Bank is going to merge with
EuroBank.

TARBO (OWING TO) 45%
OIL 58%
Labor negotiations at Bilba Steel failed.

(BECAUSE)

GMR has been awarded a substantial
government contract.

125

Unit 4-Check your progress

1. Describing changes. Synonyms 4.21
Provide a synonym for the word provided in the text below.

Our overall (general) performance was good with total sales (turnover) in the region

of ten million. After (Following) a rather slow (opposite of fast) start, we have seen

a dramatic increase (sharp rise) in online sales. In fact, they now

represent (account for) ten per cent of our business. However, there was a slight downward

trend (tendency) in retail outlet sales. Here we saw a decline (fall) of about

three per cent to under (below) nine million

2. Presenting figures 4.22

Complete the text below by supplying a logical word for each gap.

Let’s look at the 1______________________ more closely. As you can see from this

2______________________ showing Smoothie sales, despite 3______________________

fluctuations, there is a strong upward 4______________________ and we predict that sales

will 5______________________ over the next five years. Sales finished

6______________________ at approximately ten million which is a

7______________________ increase on the 8______________________ financial year.

3. Cause-Result review 4.23
Rewrite the following sentences using the expression in brackets.

a) Polycord’s stronger position in the growing Asian market can be attributed to the opening of a

factory in Japan and two in China in 2018. (AS A RESULT OF)
…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………

b) The successful launch of a new line of accessories contributed to a 7% increase in Gap’s total

sales. (DRIVEN)
…………………………………………………………………………………………………
…………………………………………………………………………………………………

126

c) In 2019, we diversified our range of products to include cosmetics and footwear. As a result,
sales in the domestic market last year grew 18%. (LED TO)

…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………

d) The modernisation of our company’s production facilities in the late ‘90s resulted in a dramatic
increase in productivity. (AS A RESULT, - NOT as a result of))

…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………

e) ABC’s turnover increased 20% in 2007 thanks to an aggressive advertising campaign launched
in the first quarter. (ATTRIBUTED)

…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………

f) Toyota lost money in some overseas markets in the first quarter due to the appreciation of the
yen. (RESULTED)

…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………

g) Our company was restructured last year. As a result, over 600 employees were dismissed. (DUE)
…………………………………………………………………………………………………
…………………………………………………………………………………………………

h) Scientific collaboration increased thanks to the simplification of Pfizer’s R&D department.
(LED)

…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………

i) Last year Tesco acquired a leading Asian retail chain. This helped them perform extremely well
in international markets.(EXCELLENT PERFORMANCE)

…………………………………………………………………………………………………
…………………………………………………………………………………………………
…………………………………………………………………………………………………

j) Investment income grew significantly. Consequently, earnings per share were up 7%. (THANKS
TO)

…………………………………………………………………………………………………
…………………………………………………………………………………………………

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4. Review of Cause-Result structures.

Using 3 different linking expressions: LED TO, MADE, DUE TO, describe each of events
below in three different ways. Use a different UP-DOWN Expressions in each group of
sentences.

REMEMBER:

When do you use or omit THE??

SINGULAR: its share price, the share price, the company’s share price,
BUT the Microsoft’s share price

PLURAL: Ø share prices (no determiner is used)

Reason ResultChange
in share price
Example: Dupont was investigated for fraud.
 20%

 The investigation of Dupont for fraud LED TO a 20% drop / a drop of 20% in
share prices.

 The investigation of Dupont for fraud MADE share prices drop by 20%.

 DUE TO The investigation of Dupont for fraud , its share prices dropped by 20%.

1. Tesla is being restructured. (RESULTED IN)  15%
2. Deutsche Bank is going to merge with Commerzbank. (GIVEN  22%
 45%
THAT)  58%
3. Labor negotiations at Alcoa failed. (OWING TO)  30%
4. Adif has been awarded a substantial government contract.  90%
 10%
(WAS ATTRIBUTED TO)  90%
5. Aereojet was acquired by Rocketdyne. (LED TO)

6. Sears announced its bankruptcy. (CONSEQUENTLY)

7. Repsol discovered a new oil field. (THANKS TO)
8. British Petroleum is being sued for environmental

damage.(WHICH IS WHY)

128

U4 Notes

129

Units 1- 4 – Revision

1. GRAMMAR G1.1
1.1 Cause-effect structures

a. Link the phrases below with an expression (VERB, PREPOSITIONAL PHRASE OR
ADVERBIAL) indicating REASON/CAUSE or RESULT/EFFECT.
1. The automation of the factory………….……. an increase in productivity.

2. However, some of the factory workers were laid off ………… the new automated machinery.

3. The managerial staff was given a large pay rise. ………… the staff turnover decreased.

(turnover here refers to the number of workers leaving and joining the company)
4. The rise in sales costs ………………….…….. the expensive advertising campaign.
5. Competition from Japan ……………………the company to lose some customers.
6. Delivery times were reduced …………………. the implementation of a new distribution

system.
7. ……………….. the material is very fragile, we prefer for your company to handle the

insurance arrangements.
8. The euro has gone up ………………………. the weakness of the U.S. dollar.
9. The low interest rates on loans ……………………… the price of houses soar.

G1.2

b. Rewrite the sentences above using the grammatical structure provided below.

1. SO .....................................................................................................................................................
2. LED .................................................................................................................................................
3. THANKS TO....................................................................................................................................
4. RESULTED IN.................................................................................................................................
5. DUE TO............................................................................................................................................
6. ENABLED........................................................................................................................................
7. IN VIEW OF ....................................................................................................................................
8. CAUSED ..........................................................................................................................................
9. AS A RESULT .................................................................................................................................

1.2 Sentence Rewrites

Rewrite the sentences using the exact words in brackets.
1. ABC´s net income in 2018 was three times higher than in 2007 (UP 200 %) (TRIPLED) (2

sentences)

o ......................................................................................................................................................
......................................................................................................................................................

o ......................................................................................................................................................
......................................................................................................................................................

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2. Revenues peaked in December 2019. (PEAK)
......................................................................................................................................................
......................................................................................................................................................

3. Sales increased by 3%. Turnover reached a high point at $ 245bn. (AS A RESULT OF)
......................................................................................................................................................
......................................................................................................................................................
......................................................................................................................................................

4. Net income rose. Earnings per share increased gradually. (NOT ONLY/BUT ALSO)
.......................................................................................................................................................
.......................................................................................................................................................

1.3 Find the error. Find the error in each line AND correct it. There is always ONE
error per line. WORD MISSING, WRONG FORM, SPELLING, EXTRA WORD…)
(Let’s imagine it’s the end of 2021)

1 --> Found in 1999, AstraZeneca, Founded
2 --> a leader British pharmaceutical company
3 --> listed in the NY stock exchange,
4 --> operates in more than 100 countries global.
5 --> This drug producer company
6 --> is based on London.
7 --> The financial results shows that AstraZeneca performed
8 --> very good in 2021.
9 --> There was a sharply rise in AstraZeneca’s sales.
10 --> AstraZeneca’s costs went up by over 20% to 888 millions of dollars.
11 --> AstraZeneca’s investment income grew up by over 35% last year.
12 --> Not only did AstraZeneca earned more money in 2021
13 --> but also it paid a higher dividend per share.
14 --> Thanks a reduction in AstraZeneca’s costs,
15 --> there was a 28% increase on earnings.
16 --> AstraZeneca dividend per share rose significantly
17 --> to 3,6 p.

131

1.4 Language of Presentations.
Rewrite the sentences using the words in brackets without changing the original meaning.
 I´d like to introduce …..(LET)

 It´s a pleasure to see you today.…… (PLEASED)

 We´ve divided our presentation into………(CONSISTS)

 I´d like to draw your attention to some of the difficulties that……(FOCUS)

 I´d like to draw your attention to some of the difficulties that……(TURN)

 I´d like to show you this pie chart………..(LOOK AT)

1.5. Sentence Completion
Complete the sentences using the correct grammar structures and adding content which is
logical and informative.
 The rising costs of raw materials have made ...............................................................................

.....................................................................................................................................................
 The financial statements are generally made up ..........................................................................

.....................................................................................................................................................
 EBIT stands .................................................................................................................................
 Profits increased...........................................................................................................................
 General Motors is based ..............................................................................................................
 25 % of sales came ......................................................................................................................
 The company was founded ..........................................................................................................
 HP is specialised ..........................................................................................................................
 Europe accounted.........................................................................................................................
 Turnover amounted......................................................................................................................
 The fall in sales was due ..............................................................................................................

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2. VOCABULARY V2.1
2.1 Word building

Transform the words in bold print to the appropriate form to complete the gap.

1. Although the WTO wants countries to compete with each other to favour the consumer, local
industries often demand restrictions to protect themselves from unfair outside
____________________.

2. We used to consume British beef. However, beef __________________ dropped sharply due to
the public alarm caused by the mad cow disease.

3. The Argentinean currency fell dramatically. As a result of this __________________, the
Argentinean government decided to freeze all bank accounts.

4. Dividends come from the profits a company makes. Therefore, before buying stock, an investor
must be sure of a new company's potential ____________________ .

5. Delta merged with Northwest Airlines in 2008. This ___________________ made Delta become
the world's largest carrier by passenger traffic.

6. They are carrying out an ___________ to find out if their analysts are doing their job properly.
7. The company has a lot of production problems to solve, but first they want to find the best

___________ to do it.
8. Telefónica, which ___________internet service to the Spanish Government, is the biggest

telephone provider in Spain.
9. This institution makes its payments on the last day of the month, which is why it has so many

__________ invoices at the moment.
10. Benito Pérez López, the ___________director, is in charge of the company’s finances.
11. In 2018, sales were down. This __________________ trend continued the following year.

2.2 Verbs V2.2

Complete using the following verbs. You may use some verbs more than once. ensure

allow carry out enquire request
arrange enable let require

1. The computer program ________ you choose what you want to do next.
2. For more information, ______ a brochure from the British Council.
3. He ____________ whether the package had arrived.
4. I am writing to ___________ about the possibility of working with you in the summer.
5. I suggest that we _____________ a meeting to discuss the matter further.
6. A freezer _____________ you to store large amounts of food for an emergency.
7. Some parents ___________ their children to do whatever they like.
8. Should you _______________ any further information, you can call this toll-free number.
9. Successful applicants are given help to _________ market research, produce a business plan and

undertake suitable training.
10. The CEO has to __________ that the company runs smoothly.
11. This is free; just _____________ a voucher at the information counter.
12. You are ___________ by law to stop your car after an accident.

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2.3 review of ACCOUNTING Terms V2.3
2.4 Graph Language

Graph 1 V2.4a

WORLD EVENTS & OIL PRICES (1973-1981)

$70 North Sea pipeline Alaskan North Iran- Shah exiled/ Iraq invades
$60 completed Slope oil put on Khomeini rises to Iran
$50 market power/US hostage crisis
$40 $60 $59
$30
$20 $40 US president
$10 Carter announces
$31 $29 $30 $31 $29 price controls
$0
$16 Arab Oil Embargo -
Yom Kippur War
Oil worker strike/Anti-Shah
73 74 75 76 demonstrations in Iran 81

77 78 79 80

1996$/Barrel

Complete this graph description of world oil prices explaining causes. Do not use any WORD
OR EXPRESSION more than ONCE.

The above graph shows the effect of _________ ____________ on ______ __________
___________ 1973 _______ 1981. In 1973 oil prices___________ ____ 16 dollars per
barrel. __________that year ______ prices rose ______________ly to ________ dollars
per barrel __________to the Yom Kippur War between Arabs and Israelis and the oil
embargo which followed. _______1974 the North Sea oil fields went on line;
______________, oil prices stabilized and levelled ____________ ________ about 30
dollars per barrel . In 1977, the Alaskan oil fields started to market their oil. This
_________ in an increase _____world oil supplies, which made prices remain _________
at about 30 dollars per barrel __________ 1978. The significant ___________ in oil
_________ from 1978 to 1979 resulted ____________ the growing unrest in Iran and an
oil workers’ strike. Prices jumped ____ 11 dollars per barrel during this period. As ____
_________ of the U.S hostage crisis and the Iranian revolution between 1979 and 1980,
there was a ___________ __________ in prices, which __________ a _______ of $60 at
the beginning of 1980. Prices soared during this period in spite of Carter’s
__________________ of ___________ _________. This dramatic _________ was also
__________ to the tension and uncertainty arising from the war between Iran and Iraq.
Finally, from 1980 to 1981, prices _____________ off and remained _____________ at
______________ per barrel.

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Graph 2.

To complete the text below, refer to the graph below which shows the exchange rate of the

POUND against the DOLLAR. Do not repeat any words of movement or cause-result

structures. V2.4b

Exchange rate of the pound against the dollar - 2014

$1.80 Value in $
$1.60
$1.40
$1.20
$1.00
$0.80
$0.60
$0.40
$0.20
$0.00

JF MA M J J AS ON D

REASONS FOR THE CHANGES IN THE VALUE OF THE POUND AGAINST THE DOLLAR

January Increase in U.S. interest rates
February Miners’ strike

March Balance of Trade surplus

April Lower unemployment figures

May Inflation down by 0.9%

June Failure of Middle East talks

July Aggravation of tension in Middle East

August General uncertainty arising from approaching elections in

September

September Labour government victory

October Devaluation of the pound

November 5 point reduction in the trade deficit

December Discovery of new oil deposits in the North Sea

The graph shows the exchange rate of the pound against the dollar in US
dollars in 2014 ______ the beginning of the year, the pound __________
_______ $1.80. The increase in U.S. interest rates ______ January
__________ the pound _________ down ___________ ______ $1.70.
As a _________ of the miner’s strike in the UK the following month, the
pound ___________________ ________________ ________ $0.25
_______ $1.70 ____ $1.45. ________ was a balance of trade surplus in
March. ______________, the pound ____________ _______________
to $1.55. The ________ in the April unemployment figures and the 0.9% fall in inflation in May
_____________ the pound to recover. At the end of May, the pound ___________ a peak ____$1.70.
This recovery ended in June when the Middle East talks failed. Owing to this ______________, the
pound declined by $0.10. There was a _______________ _______________ in the pound over the
next four months due to the ______________ in the Middle East in July, the general uncertainty due
to the elections in August and the Labour government victory in September. In October, the pound
reached a ____________ point _____ $1.20 _______ that the pound was _______________.
However, in November the news that inflation had been reduced by 5 points ______________ in a
___________ __________________ in the pound, which continued in December ______________
to the discovery of new oil deposits in the North Sea. The pound __________ the year _____ $1.60.

135

2.4. Error correction. Correct the error, if there is one:
1. I would be grateful if you can send me the details as soon as possible.
2. I am going to explain you how it works.
3. I didn't used to like wine before I came here.
4. I'm getting used to living in Madrid.
5. Prices have maintained steady since then.
6. They have written to require our assistance.
7. Please accept my apologise for not having replied sooner.
8. Total revenue came to 9m$.
9. Due to I had financial difficulties, I had to borrow money from the bank.
10. Could I lend some money from you?
11. We've spent far too much money in new machinery.
12. A morgage is a long-term loan.
13. I owe people a lot of money. I hate being a creditor.
14. Of the two, I prefer the later.
15. EBIT stands for Earnings Before Interests and Tax.
16. By substracting expenses from revenues you get net profit or loss.
17. 16 divided between 4 equals 4.
18. Last year the number of deaths from malaria raised by 2%.
19. The defective brake led the company to recall 2m cars.
20. There was a gradually rise later that year.
21. Prices have been falling down for some time.
22. The news made prices on the stock exchange to fall sharply.
23. After years of stagnation, our company's sells have finally begun to grow.

2.5 Gap fill. Fill in the missing word:
24. The opposite of “profit” is ______________The opposite of “to find” is to _____________
25. _________________ accounting records expenses when they are i________________, not
when they are paid.
26. You can reduce your overheads by turning off the lights more often. T/F?
27. A plunge is the same as a plummet. T/F?
28. Prices fell ___ 10%.
29. ____________ of the economic crisis, the company paid out dividends in 2010.
29. ____________ of the economic crisis, the company did not pay out dividends in 2010.
30. The fall __ interest rates was not a surprise.
31. Bad news: profits are 10%______________ compared with last year.

2.6 Correspondence
32. Make more formal: We’d be glad to give you / more details...
33. Order the words: I I am able be to not afraid attend will
Translate:
34. Lamentamos informarle que...
35. Nos complace invitarle a ….

136

APPENDIX 1. Language Use

1. Summary of Connectors and Linking words ........................................ 138
2. How to formulate questions............................................................... 139

137

1. Summary of Connectors and Linking words

The main function of these is to indicate a connection between two propositions (e.g., ideas, facts or

events). They help organise information and clarify it for the reader / listener by connecting subsequent

information with earlier information. We use connectors and sequence markers to signal different types

of relationship between ideas. The main relationships are: TIME, LOGIC and TEXT (e.g. addition,

contrast, summary, paraphrase, example and highlight).

Conjunctions, adverbials and prepositions are grammatical terms that describe how these devices are used

grammatically. Look at the examples below:

CONJUNCTION The population grew although the birth rate continued to fall.

ADVERBIAL The birth rate fell. However, the population grew.

PREPOSITION The population grew despite the continuous fall in the birth rate.

Introducing a CONJUNCTIONS ADVERBIALS PREPOSITIONS
reason, cause
Connect sentences clauses Connect a sentence logically to a Introduce a nominal structure
sentence + sentence previous sentence. or a gerund
because, since, as, given that this is because as a result of, because of, due
to, owing to, thanks to, on
Introducing a with the result that, so, as a result, consequently, account of, in view of, given
consequence or which is why therefore, this is why, hence*, VERBS: result from, arise
result thus*, to this end*, because of from, be attributed to, be the
this, accordingly result of
Temporal before, after, while, when, afterwards, then, later, before VERBS: lead to, result in,
connectors since, as soon as, until that, meanwhile, in the meantime give rise to, cause
Sequence before, after, once first (of all), firstly, secondly,
next, then, after that, later, before, after, during, for,
Addition and, not only...but (also)/(as subsequently, finally, in the end, since, until, till, from...to
well) lastly before, after
Similarity furthermore, in addition,
Contrast but, yet, although, even moreover in addition to, as well as,
Example though, whereas, while also, too, as well apart from, along/together
Purpose likewise, similarly, in the same with
Condition so that way, at the same time like, similar to
if, unless, whether, as long however, nevertheless*, on the
Generalisa- as, provided that, in the other hand, in contrast, even so, in spite of, despite
tion event that for example, for instance, say, as
Rephrasing/ follows: / e.g.(in writing only)** such as
Equivalence to this end, with this end in view
Highlighting for, to, in order (not) to, so as
Conclusion/ then, in that case, in such an to + VERB
Summary event*, otherwise in the event of

usually, normally, as a rule, in
general, for the most part, in most
cases, on the whole
basically, in other words, in short,
in brief, i.e.**
in particular, especially, notably,
chiefly, mainly, particularly
overall, in conclusion, to sum up,
to conclude,

* formal expressions used mostly in written English * *i.e.- id est, Latin for 'that is', e.g. - exempli gratia,
Latin for 'for example'

138

2. How to formulate questions
Summary - Questions - word order

1. Direct questions

1. Select Question Word (QW)

SUBJECT? OBJECT?
Examples: Examples:
Who saw you? Who did you see?
John saw me. I saw John.

2. WORD ORDER 2. Look at verb phrase
QW+ VERB The verb may consist of one or
more elements.
Other examples: e.g. lasts, developed, will stop,
Who developed …? can make, has been producing
What happened?
What causes ….?
What factors have made…?

3. If the verb phrase consists of one 3. If the verb phrase consists of
word, use DO, DOES or DID to make more than one word, what is the
the question. Change principal verb auxiliary or modal verb?
to stem form. modals - can, will, must, should, etc.
e.g. see (stem) - saw - seen
Who did he speak to? auxiliary- is, are, was, were,
He spoke to Mr. Davis.
have, has, had

How long has he worked at AMC?
He has worked there for 10 years.

REMEMBER:

WORD ORDER in Object Questions
QW (+noun) + aux + SUBJECT + Verb stem

Placement of prepositions
In cases where the verb or expression is followed by a preposition, the preposition goes at the end
of the question.

139