August 1999

20 August 1999

Dear Mr Smith

We have the pleasure to invite you to participate in the International Conference

" New Informational and Communication Technologies. Review and Perspectives".

This high-level International Conference will take place in London, 8-9 November 1999. It will host participants from competition authorities representing foreign and international organizations, governmental, academic and business circles.

The working languages of the Conference are English and French.

We would highly appreciate your participation in this event.

For further details please contact Ms Johnston (tel.: 456 899 01)

William Brandt, Minister

аспирантура (канд. экз.)

Экзаменационный билет (на 2 листах) по дисциплине

английский язык

(специальность: бухгалтерский учет; статистика)

Task I. Translate from English into Russian in writing using a dictionary. Your time is 45 minutes

Presentation of financial statements at general meetings.

The directors have a duty to present the financial statements of the company to the shareholders each year at a general meeting of the company.

The financial statements do not necessarily have to be laid before the shareholders at the annual general meeting. Another general meeting will suffice. In practice, however, most companies do lay their annual financial statements before the shareholders at their annual general meeting. The financial statements presented at that meeting should include:

• The company's profit and loss account and balance sheet.

• The directors' report.

• The auditors' report.

• The company's consolidated financial statements (if the company has subsidiaries).

• The statement of source and application of funds (if applicable).

However, a private company may elect to dispense with laying its financial statements and reports before the company in general meeting (see para 25.20).

Delivery of financial statements to the Registrar of Companies

Individual companies

The directors of the company also have a duty to send to the Registrar of Companies a copy of the financial statements of the company (see also para 25.38). Where that copy of the financial statements is not in English, a certified translation of the financial statements also has to be delivered to the Registrar of Companies

Task II. Translate the letter from English into Russian without a dictionary. Your time is 5-7 minutes

INTERNATIONAL & PUBLIC RELATIONS DEPT.

Athens, 29 December 1999

Mr. Alexey PROKOFIEV

Vice Minister

Subject: EOMMEX's data base

Dear Sir,

The Hellenic Organization of Small and Medium Sized Enterprises and Handicraft (EOMMEX) is the Public Body supporting the SME's in Greece supervised by the Ministry of Development.

EOMMEX, is trying to enrich it's data base with all the existing nformation, in order to help the Greek SME's develop transnational co-operations.

Therefore, we would very much appreciate if you would send us all the available information concerning the following topics :

1. The existing legislation on foreign investment.

2. The incentives that could attract foreign investments (e.g. current tax system e.t.c.).

We would like to thank you in advance for your kind co-operation.

Sincerely yours,

Kl. Stavrakakis Director

аспирантура (канд. экз.)

Экзаменационный билет (на 2 листах) по дисциплине

английский язык

(специальность: бухгалтерский учет; статистика)

Task I. Translate from English into Russian in writing using a dictionary. Your time is 45 minutes

Where a company is exempt from the requirements to prepare consolidated financial statements, a copy of the ultimate parent company's financial statements must be appended to the company's financial statements delivered to the Registrar of Companies. This requirement applies where the company is itself a wholly-owned subsidiary of a EC parent or the EC parent holds more than 50 per cent of the shares in the company and no notice has been served on the company to prepare consolidated financial statements. If the EC parent does not prepare its financial statements in English, a certified translation of the EC parent's financial statements into English must be appended (sec further 'Manual of accounting -volume 'H' chapter 2).

Subsidiaries excluded from consolidation

Special rules apply where a parent company has a subsidiary undertaking which is excluded from consolidation under section 229(4) on the grounds that its activities are different from those of the rest of the group, and the subsidiary is either a body corporate incorporated outside Great Britain without an established place of business in Great Britain or an unincorporated undertaking. These provisions are further explained in 'Manual of Accounting - volume II' chapter 3.

A copy of the excluded undertaking's latest individual financial statements and, if it is a parent, its latest consolidated financial statements, should he appended to the company's annual financial statements delivered to the Registrar of Companies. A copy of the 'auditors' report should also he appended if the financial statements are required by law to be audited. Other requirements that must be complied with are as follows:

• The financial statements must be for a period ending not more than 12 months before the end of the financial year for which the parent company financial statements are made up.

• If any document required to be appended is in a language other than English, a certified translation of that document should accompany it.

Task II. Translate the letter from English into Russian without a dictionary. Your time is 5-7 minutes

Dear Mr. Minister:

It was a pleasure to meet you during our recent visit to Moscow. I was encouraged with the discussion and look forward to moving ahead to assist small- and medium-sized businesses in Russia.

Mr. Paul Tumminia, Ex-Im Bank Director-Russia and NIS, will be in contact with you as to our future plans on this matter.

Please do let us know if you are planning to be in the U.S.

Sincerely.

аспирантура (канд. экз.)

Экзаменационный билет (на 2 листах) по дисциплине

английский язык

(специальность: бухгалтерский учет; статистика)

Task I. Translate from English into Russian in writing using a dictionary. Your time is 45 minutes

As discussed in chapter 20 paragraphs 20.6 to 20.10, the directors' report must give details of any significant events that occur between the end of the financial year and the dale on which the directors approve the financial statements. SSAP 17 contains a similar requirement.

SSAP 17 says that it relates only to those events that occur before the date on which the directors approve the financial statements. However, the standard goes on to say that, "If (events occurring after that dale) are material the directors slould consider publishing the relevant information so that users' of financial statements are not misled". [SSAP 17 para 4]. Also, if the company is either listed on The Internal ional Stock Exchange or traded on the USM, The International Stock Exchange's Continuing Obligations or the USM's General Undertaking (as appropriate) require the company to inform the Quotations Department of The International Stock Exchange of any significant events that occur at any time that affect the company. [CO 5, GU 1].

If the auditors become aware of any significant event that has occurred between the date on which the directors approve the financial statements and the dale of the relevant general meeting, they should consider whether they should advise the company's directors to disclose that event or exercise their rights to speak at the meeting.

Persons entitled to receive the financial statements

Every member of the company, every debenture holder of the company, and every person who is entitled to receive notice of general meetings is entitled to receive a copy of the annual financial statements. A copy must be sent to them not less that 21 days before the date of the meeting at which the financial statements are to be presented. [Sec 238(1)].

A copy must also be given to the company's auditors. (Sec 390(1)]. In addition, the company's bankers may require that they should receive copies of the company's financial statements, and this requirement could he an enforceable term of either a loan agreement or a facility agreement.

In addition to the right that a member has to be sent a copy of the annual financial statements (as mentioned in para 25.31), every balance sheet date is disclosed in the financial statements), the Registrar of Companies will accept, for filing, a UK company's financial statements that have been prepared in a foreign currency.

Task II. Translate the letter from English into Russian without a dictionary. Your time is 5-7 minutes

Der President 10965 BERLIN

des Bundeskartellamtes