Business Spotlight 08.2019

(Nancy Kaufman) #1

6 SKILL UP!


IN CONTEXT

Financial health


On the next six pages, we present extracts with key phrases
and expressions you can use to talk about company finances.

The SiTuaTion:
Ron Baker runs an incubator
that supports food entrepre-
neurs. He is interviewing Sue
for the position of auditor.


  1. Financial roles
    Ron: As an incubator, we help
    early-stage businesses find in-
    vestors. We work with angel
    investors, venture capital firms,
    private banks and fund managers.
    We advise companies on how to
    run a healthy business. Your role
    would be to review the financial
    statements of such businesses and
    perform due diligence.
    Sue: I have over ten years’ experi-
    ence in this area. Currently, I per-
    form external financial audits.
    Basically, my role is to check that
    the financial statements give a true
    and fair view of the company’s fi-
    nances.
    Ron: How do you ensure that the
    companies are not overstating
    their assets?
    Sue: That’s a good question. It’s not
    always easy.


ensure sth. , etw. sicherstellen
incubator , Brutkasten; hier: Gründerzentrum
overstate sth. , etw. überbewerten


  1. So much experience
    Sue: I examine the financial state-
    ments to make sure they conform
    to generally accepted accounting
    principles. My in-depth experience
    helps me to understand the ac-
    counts. I spend a lot of time getting
    to know the owners, the business
    and the industry. This helps me to
    analyse the accounting systems
    they use to record transactions. At
    the moment, I have full responsi-
    bility for financial compliance.
    Ron: What does that mean in
    practice?
    Sue: For example, I determine
    whether the companies are fol-
    lowing regulations and loan agree-
    ments.


in-depth , fundiert, umfangreich
industry , hier: Branche
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