Study the 20 vocabulary terms below. Then continue to the activities.
- Adverse
- At their disposal
- Carry out
- Contrast
- Cover
- Cyclical pattern
- Designated for
- Drawing up
- Dynamic budget
- Eliminate
- Go ahead
- Go over
- Margin of safety
- Marginal cost
- Omission
- On account of
- Ran into
- Referred to
- Set aside
- Setting out
Adjective
having a negative or harmful effect
Recent bad publicity had an adverse effect on the company's sales.
Adjective
available to be used by somebody
The company has millions of dollars at its disposal to fund new research.
Verb (infinitive)
to perform or complete a job or activity
The IRS carried out an audit of the company as a result of errors in the accounts.
Verb (infinitive)
to compare with and show differences
By contrasting this year's expenditures with last year's, we will see the main differences.
Verb (infinitive)
to deal with or to include something
You need to ensure that the report covers all possible costs.
Noun (thing)
a trend which is repeated at intervals
Changes in the economy have followed a cyclical pattern.
Adjective
stated as officially having a particular purpose
This building has been designated for the accounting team.
Verb (infinitive)
officially preparing a written document
The lawyers drew up the contract of sale.
Noun (thing)
a financial forecast which adapts to changes of one or more variables
Dynamic budgets have become more popular since it is increasingly difficult to precisely forecast sales
volume.
Verb (infinitive)
to completely remove something which is not wanted
It is impossible to eliminate all risk in investment so you should seek advice on the safest options.
Verb (infinitive)
to continue or proceed
The meeting went ahead when John returned.
Verb (infinitive)
to look at in detail, to study
After going over the budget, it is clear that we will not meet our sales targets.
Proper noun (thing)
the amount by which sales can decrease before a company becomes unprofitable
As our margin of safety is only 10,000, we need to look at ways of increasing sales.
Noun (thing)
the cost of producing one more item as compared to the cost of producing all items
Marginal costs are generally relative to the amount of fixed costs.
Noun (thing)
the failure to include or do something
The omission of the depreciation cost for the year meant the budgeted figures were not correct.
Adjective
because of, due to
The company was closed on account of low sales and high costs.
Verb (infinitive)
encountered unexpectedly
The company ran into financial problems when the exchange rate changed significantly.
Verb (infinitive)
checked or consulted a source of information
I'm afraid that I do not know, I will need to refer to my manager for that answer.
Verb (infinitive)
to save something for a special purpose
The management have been setting $500 a month aside for the staff party.
Verb (infinitive)
arranging or preparing something for others to see or use
The CFO set out new regulations for payment processing.