Україна є аграрно-індустріальною країною.

Economy of Ukraine

Ukraine is an agro-industrial country.

Ukraine is rich in natural resources. The main minerals are iron ore, coal, rock salt cement, gypsum uranium, different metals and other natural resources.

Ukraine fully satisfies its needs in minerals but it still has to import some of them. So, oil and gas are imported from Russia and Turkmenistan as the oil and gas deposits of Ukraine cannot satisfy country's needs in these energy resources.

In the current structure of Ukraine's industry a great proposition is occupied by heavy industry, especially, the iron, and steel, machine-building and coal industries.

A considerable part is played by the food, light and chemical industries.

Defence industry is being restructured and converted with emphasis on the output of consumer goods.

However, today's industries are unable to satisfy the consumers' wants because they are not integrated into the world process of economic, technological and scientific progress. The national industries have low standard in processing raw material and outdated and worn-out production equipment.

Ukraine is one of the world's most productive farming regions and is known as "Europe's granary".

There are two main branches of agricultural production in Ukraine: crop production and animal husbandry.

Among the crops grown in Ukraine are sugar beet, wheat, rye, barley, oats, corn, sunflower, a large variety of grain cultures, fruit and vegetables.

The most widespread branches of animal husbandry are dairy and beef cattle breeding and pig raising.

Two interrogated processes characterize Ukraine's economy today, namely its assertion as that of an independent state, and its transitionfrom planned-centralized to market-controlled.

Ukraine has currently achieved macroeconomic stability. Prices, domestic and foreign trade have been liberalized. An austere monetary policy has been introduced. Tax and budget systems are also being reformed. A twin-level banking structure took shape: the National Bank of Ukraine, and commercial banks of all types and forms of property.

"Small-scale" privatization is nearly completed in Ukraine today. Privatization has sped up for large and medium size enterprises, including enterprises in the agro-industrial sector.

Ukraine's foreign policy is aimed at wide and long-term co-operation. Ukraine is acting on the assumption that this is the most effective way of solving not only economic but also political problems.

Економіка України

Україна є аграрно-індустріальною країною.

Україна багата на природні ресурси. Основні корисні копалини залізна руда, вугілля, цемент кам'яна сіль, гіпс урану, різних металів та інших природних ресурсів.

Україна повністю задовольняє свої потреби в корисних копалин, але він як і раніше змушена імпортувати деякі з них. Таким чином, нафта і газ, імпортований з Росії і Туркменістану, а родовища нафти і газу Україна не може задовольнити потреби країни в цих енергетичних ресурсів.

У нинішній структурі промисловості України велика пропозиція займає важка промисловість, особливо, заліза і сталі, машинобудівної та вугільної промисловості.

Значна частина грає харчової, легкої та хімічної промисловості.

Оборонна промисловість в даний час реорганізовано і перетворено з упором на виробництво товарів народного споживання.

Однак, промисловості сьогодні є не в змозі задовольнити споживачів хоче, тому що вони не інтегровані в світовий процес економічного, технологічного та наукового прогресу. Національні галузі промисловості низький рівень переробки сировини і застарілого та зношеного виробничого устаткування.

Україна є одним з найбільш продуктивних господарства регіонів світу і відома як "житниця Європи".

Існують два основних галузей сільськогосподарського виробництва в Україні: рослинництво і тваринництво.

Серед культур, вирощуваних в Україні цукровий буряк, пшениця, жито, ячмінь, овес, кукурудза, соняшник, велика різноманітність зернових культур, фруктів і овочів.

Найбільш поширеними галузями тваринництва є розведення молочної та м'ясної худоби і свиней.

Два допитали процеси характеризують економіку Україну сьогодні, а саме його твердження, що й незалежна держава, і його transitionfrom планово-централізованого до ринкових контролем.

Україна має в даний час досягнута макроекономічна стабільність. Ціни, внутрішньої і зовнішньої торгівлі було лібералізовано. Сувора грошова політика була введена. Податкової та бюджетної системи також реформований. Структура подвійний рівень банківської склалася: Національний банк України та комерційних банків всіх типів і форм власності.

"Мала" приватизація практично завершена в Україну сьогодні. Приватизація прискорило для великих і середніх підприємств, включаючи підприємства в агропромисловому секторі.

Зовнішня політика України спрямована на широке і довгострокове співробітництво. Україні діє на припущенні, що це найбільш ефективний спосіб вирішення не тільки економічних, але і політичні проблеми.

To be rich in smth - бути багатим на щось

Iron and steel industry - чорна металургія

Outdated and worn-out equipment - застаріле та спрацьоване обладнання

Europe's granary - житниця Європи

Crop production - рослинництво

Animal husbandry - тваринництво

Dairy and beef cattle breeding - розведення молочної та м'ясної худоби

Pig raising - свинарство

9. transition from planned-centralized to market-controlled - перехід від планово-централізованої до ринково - регульованої

Austere monetary policy - жорстка монетарна політика

Twin-level banking structure - дворівнева банківська система

To speed up - прискорювати

To aim at smth - націлювати на щось

Wide and long-term co-operation - широкомасштабне і довгострокове співробітництво

On the assumption - виходячи з припущення

Наша кн.

WHAT IS BUSINESS?

Business is a word which is commonly used in many different languages. Traditionally, business simply meant exchange or trade for things people wanted or needed. Today it has a more technical definition. One definition of business is the production, distribution, and sale of goods and services for a profit. To examine this definition we will look at its various parts.

1) Production is the creation of services or the changing of materials into products.

2) Next this products need to be moved from the factory to the marketplace.

3) Third is the sale of goods and services. Sale is the exchange of a product or service for money. Goods are products which people either need or want. Services, on the other hand, are activities which a person or group performs for another person or organization.

Business is a combination of all these activities: production, distribution and sale. A major goal in the functioning of an American business company is making a profit. Profit is the money that remains after all the expenses are paid.

MANAGEMENT

Management plays a vital role in any business or organized activity. Management includes those personnel who have right to make decisions that affect company’s affairs. The four basic functions of management are: Planning, Organizing, directing and controlling.

Planning. Preparation of the plan is always considered as the initial phase of management. It means that someone has to decide: what, how, when and who should be executed. Management organization must find the answers to these questions:
Where we are at this time? (Assess strengths and weaknesses of organizations in finance, marketing, manufacturing, human resources).

Where we want to move? (Assess opportunities and threats in the environment: competition, environmental sustainability, supply, what should be the goals and how to achieve them). How are we going to do?

Organizing. Is the process of putting the plan into action.

Directing is guiding and motivating the employees to work efficiently to achieve the goals and objectives of the organization.

Controlling is evaluating how well the company’s objectives are being met.

MONEY

Money is a very important factor in the economy and economics. Goods are produced to be sold. They are sold to meet the needs of consumers or customers. Services are rendered to make life easier/ People earn money to be able to pay for both goods and services / Banks cannot operate without money / That is why people say that Money makes the world go round /

Money has three basic function / It serves as a medium of exchange as a measure of relative value and as a store of value/

As a medium of exchange money enable two individuals to exchange without having to barter/

As a measure of relative value money allows two dissimilar items to be purchased on a similar bases/ It is in terms of money that we think value/

As a store of value money makes it possible for us to hold onto the value over time.

Inflation

Inflation is generally defined as a persistent rise in the general prise,level with no corresponding rise in output, which leads to a corresponding fall in the purchasing power of money.It leads to a redistribution of income and wealth, often hurting sectins of society with little economic power, affects balance of payments because exports – become relatively expensive and therefore less competitive as imports become relatively cheaper.

Ukraine’s inflation rate hit 26.2% year on year in March, up from 21.9% in February and 19.4% in January, according to the state statistics office. Food and beverage prices rose by 40.7% year on year in March, health and education costs each grew by more than 17% and restaurant and hotel charges increased by 25.2%. Underlining the generally inflationary environment, prices for miscellaneous goods and services also expanded faster than headline inflation.

How to Fight Inflation

1. Work within a community. Throughout tough times, communities have worked together,

2. Get the means of production. When inflation is rampant, it helps to be actually producing something.

3. become as self-sufficient as possible. Another way inflation hits consumers is that their currency will not buy as much or as many goods and services as before.

 

Money

Money is any object or record, that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context.[1][2][3] The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment.[4][5] Any kind of easily verifiable record serves these functions as well as an object (an "object" that is taken as money actually serves as just a type of secure record), and "digital money" that exists only as secure records in computerized files, is now the most common form of money.

Coins and banknotes – the two most common physical forms of money.

The money supply of a country consists of currency (banknotes and coins) and demand deposits or 'bank money' (the balance held in checking accounts and savings accounts.

Types of money

4.1 Commodity money

4.2 Representative money

4.3 Fiat money

4.4 Commercial bank money

Functions

2.1 Medium of exchange

2.2 Unit of account

2.3 Store of value

2.4 Standard of deferred payment

Medium of exchange

When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange. It thereby avoids the inefficiencies of a barter system, such as the 'double coincidence of wants' problem.

Unit of account

A unit of account is a standard numerical unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. To function as a 'unit of account', whatever is being used as money must be:

Divisible into smaller units without loss of value; precious metals can be coined from bars, or melted down into bars again.

Fungible: that is, one unit or piece must be perceived as equivalent to any other, which is why diamonds, works of art or real estate are not suitable as money.

A specific weight, or measure, or size to be verifiably countable. For instance, coins are often milled with a reeded edge, so that any removal of material from the coin (lowering its commodity value) will be easy to detect.

Store of value

To act as a store of value, a money must be able to be reliably saved, stored, and retrieved – and be predictably usable as a medium of exchange when it is retrieved. The value of the money must also remain stable over time. Some have argued that inflation, by reducing the value of money, diminishes the ability of the money to function as a store of value.[4]

Гроші

Гроші будь-який об'єкт або записи, які, як правило, приймаються для оплати товарів і послуг та погашення заборгованості в даній країні або соціально-економічний контекст [1] [2] [3] Основні функції грошей відрізняються як:. засіб обміну; розрахункової одиниці; заощадження;. і, іноді, стандарт відстрочкою платежу [4] [5] Будь-який легко перевіряються записи служить цих функцій, а також об'єкт ("об'єкт", що береться як гроші насправді служить лише тип безпечного запису), і "електронних грошей", який існує тільки в якості безпечного запису в комп'ютерних файлів, в даний час найбільш поширеною формою грошей.

Види грошей

Товарних грошей

Представник гроші

Fiat гроші

Комерційна Money Bank

Функції

Засобом обміну

Розрахункова одиниця

Заощадження

Засіб обміну

Коли гроші використовуються для проміжного обміну товарів і послуг, вона виконує функції як засобу обміну. Тим самим вона уникає неефективності бартерної системи, таких як "подвійне збіг бажань проблема.

Розрахункова одиниця

Розрахунковою одиницею є стандартною чисельного одиниця вимірювання ринкової вартості товарів, послуг та інших операцій. Також відома як "міру" або "стандартний" відносної цінності та відстрочення платежу, одиницею рахунку є необхідною передумовою для розробки комерційних угод, які включають боргу. Діяв в якості "одиниці рахунку", то, що використовується як гроші мають бути:

Питома вага, або заходи, або розміру, щоб бути що перевіряють лічильно. Наприклад, монети часто фрезеровані з зарослий очеретом краю, так що будь-яке видалення матеріалу з монет (зниження її вартості товару) буде легко виявити.

Заощадження

Виступати в якості засобу заощадження, гроші повинні бути в змозі бути надійно збережені, зберігаються і отримати - і бути передбачуваним, використовуваний як засіб обміну, коли вона буде вилучено. Значення грошей повинні залишатися стабільними протягом довгого часу. Деякі стверджують, що інфляція, за рахунок зниження вартості грошей, зменшується здатність грошей діяв в якості засобу збереження вартості [4].

WHOLESALE AND RETAIL TRADE

The wholesale trade sector comprises establishments engaged in wholesaling merchandise, generally without transformation, and rendering services incidental to the sale of merchandise. The wholesaling process is an intermediate step in the distribution of merchandise. Wholesalers are organized to sell or arrange the purchase or sale of (a) goods for resale (i.e., goods sold to other wholesalers or retailers), (b) capital or durable nonconsumer goods, and (c) raw and intermediate materials and supplies used in production. Wholesalers sell merchandise to other businesses and normally operate from a warehouse or office.

The retail trade sector comprises establishments engaged in retailing merchandise, generally without transformation, and rendering services incidental to the sale of merchandise. The retailing process is the final step in the distribution of merchandise; retailers are, therefore, organized to sell merchandise in small quantities to the general public. This sector comprises two main types of retailers: store and nonstore retailers.

=11,12= TYPES OF BANKS. THE BANKING SYSTEM OF UKRAINE

Banks are institutions dealing with money.

Type 1. Saving Banks

Saving banks are established to create saving habit among the people. These banks are helpful for salaried people and low income groups. The deposits collected from customers are invested in bonds, securities, etc.

Type 2. Commercial Banks

Commercial banks are established with an objective to help businessmen. These banks collect money from general public and give short-term loans to businessmen by way of cash credits, overdrafts, etc. Commercial banks provide various services like collecting cheques, bill of exchange, remittance money from one place to another place.

Type 5. Indigenous Banks

Indigenous banks means Money Lenders and Sahukars. They collect deposits from general public and grant loans to the needy persons out of their own funds as well as from deposits.

Type 7. Co-operative Banks

They generally give credit facilities to small farmers, salaried employees, small-scale industries, etc.

Type 8. Exchange Banks

These banks are mainly concerned with financing foreign trade.

Type 9. Consumers Banks

Consumers bank is a new addition to the existing type of banks. Such banks are usually found only in advanced countries like U.S.A. and Germany. The main objective of this bank is to give loans to consumers for purchase of the durables like Motor car, television set, washing machine, furniture, etc.

 

THE BANKING SYSTEM OF UKRAINE dates to March 1991, when the Ukrainian Parliament passed the law ‘On Banks and banking activities’. The banking system of Ukraine can be determined as two-level, composed of the National Bank and commercial banks.

The National Bank of Ukraine is the central financial body of the state conducting a uniform national monetary, credit and currency police and coordinating and supervising the whole banking system; Improvement of the system of inter-bank settlements; Legislative and regulatory activity.

The National Bank of Ukraine is the central bank of the country, which conducts a uniform state policy in the area of monetary circulation and credit and ensures the stability of the national currency; issuing centre; foreign exchange authority; supervisory body; bank of the banks; bank of the State; organizer of interbank settlements.

Commercial banks are formed as joint-stock companies or as companies on an equal footing with both legal and natural persons involved. The range of commercial banks activities includes: receiving deposits of enterprises, institutions and households, crediting of economic entities and households, investments in securities, formation of cash balance and reserves, as well as other assets, cash and settlement servicing of the economy, foreign exchange operations and other services to natural persons and legal bodies.

The major banks are Prominveslbank, the «Privat» Bank, the Export-Import Bank, «Avah>, the Savings Bank of Ukraine and Ukrsotsbank. Five of the commercial banks are the former specialized state banks: one is a savings bank (Oschadnybank), two are specialized lending banks (Prominvestbank and Ukrsotsbank), and one is the Export-Import Bank of Ukraine (Ukreximbank). Oschadnybank and Ukrcximbank are still stale owned. Prominvestbank and Ukrsotsbank receive concessionary treatment from the NBU and arc responsible for the vast majority of corporate lending.

 

13. ACCOUNTING. FINANCIAL STATEMENTS

Accounting is the recording, classifying, summarizing and interpreting of the business activities that can be expressed in monetary terms. Accountancy is sometimes used as alternative expression expecially for the practice of accounting.

Accounting information can be classified into two categories financial accounting or public information and managerial accounting or private information.

Accounting in any country reflects the level of its economic development to some extent. A new phase of accounting development in Ukraine began on January 1, 2000, when the Law On Accounting and Financial Reporting in Ukraine and the Accountong Standards (provisions) of Ukraine came into force. The Verkhovna Rada of Ukraine adopted the Law on July 16. This day is now celebrated as a professional holiday, the Accountant’s Day.

The annual financial statements of enterprises comprise the following: Balance sheet, Income statement, Cash flow statement, Owner’s equity statement, Notes to the annual financial statements.

The balance sheet shows the financial position of a business on a certain date, usually the end of the month or year. The accounting equation of the Balance sheet is: Assets = owner’s equity+liabilities.

The income statement is a statement summarizing the firm’s revenues and expenses over an accounting period, generally a quarter or a year.

Cash Flows statement – a statement reporting the impact of a firm’s operating, investing and financial activities on cash flows over an accounting period.

Statement of owner's equity. The statement of owner's equity is prepared after the income statement. It shows the beginning and ending owner's equity balances and the items affecting owner's equity during the period.

Notes to the financial statements report the details and additional information that are left out of the main reporting documents, such as the balance sheet and income statement. T his is done mainly for the sake of clarity because these notes can be quite long, and if they were included, they would cloud the data reported in the financial statements.

14. BUDGET SYSTEM

A budget is a detailed plan outlining the obtaining and use of financial and other resources over some given time period. It represents a plan for the future expressed in formal quantitative terms. The state budget is a plan of obtaining and use of financial resources to provide with the functions which are carried out by the state authorities of Ukraine.

Most firms prepare yearly budget from short-term and long-term financial forecasts.

There are usually several budgets established in a firm: an operating budget, a capital budget, a cash budget and a master budget.

An operating budget is the projection of money allocation to various cost and expenses needed to run or operate the business.

A capital budget consists of the firms spending plans: the purchase of such assets as property, buildings, equipment.

A cash budget is the projected cash balance at the end of a given period. It is important for managers in borrowing, debt repayment, cash disbursements, and short-term investment expectations.

A master budget ties in all the above mentioned budgets and summarizes the proposed financial activities of the firm.

15. ПОДАТКИ

The peculiarities of the Ukrainian Taxation Code lie in the evolutionary approach to improving the Ukrainian Taxation system.

Taxation of physical entities income. Introduction of tax – exempt minimal income corresponding to the poverty line and three tax rates instead of operating five tax rates should be the basis for improving taxation of entities income.

Property tax. The concept proposes to unite three taxes in one – two taxes already exist (a tax on vehicle owners and land payment) and one has not been effected yet (a real estate tax).

Local taxes and dues. The concept envisions changes in the structure of local taxes and dues, because some of them do not play an essential role in the budgets replenishment, but require considerable administrative expenses.

American Taxation system have some principle of taxation. The first one is the benefit principle.

And it is the second principle – the ability to pay principle. Most taxes can be classified as progressive, regressive, and proportional by their economic impact on the firms that have to pay them.

A regressive tax is one that takes a higher percentage of a low income and lower percentage of a high income.

A proportional tax takes the same percentage of all incomes, regardless of size.

If income tax is designed to be progressive, it means that it takes a larger fraction of high income than of low income.

 

STOCK EXCHANGE

A stock exchange is a market for secondary securities. A stock exchange is a form of exchange which provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and dividends.

Only shares of public limited companies with sound financial standing can be listed and admitted to trading in the stock exchange. Younger and smaller companies which cannot obtain a listing also issue shares; these are traded in the unlisted securities market.

Stock exchanges have multiple roles in the economy. This may include the following: 1. The Stock Exchange provide companies with the facility to raise capital for expansion through selling shares to the investing public. 2. To facilitating company growth. 3. Mobilizing savings for investment 4. Profit sharing; 5. Corporate governance

The price of shares differs from day to day and they are reported daily in newspapers in the form of indexes. The London Stock Exchange index is called the FTSE (Footsie), the New York Stock Exchange index is called the Dow Jones, in Poland it is called WIG. These indexes show the market value of selected companies and represent the changing supply and demand for shares. The transfer of shares and stocks is made by completion of a transfer form – in fact they may change hands every day.

Most transactions are now completed not on the market floor but through a computer system or over the telephone.

The most famous stock exchanges are located in London, New York, Tokyo, Paris and Frankfurt.

 

MARKET. MARKET SEGMENTATION

A market is one of many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers. It can be said that a market is the process by which the prices of goods and services are established.

Geographic segmentation

The market is segmented according to geographic criteria- nations, states, regions, countries, cities, neighborhoods, or zip codes.

Demographic Segmentation

Demographic segmentation consists of dividing the market into groups based on variables such as age, gender, family size, income, occupation, education, religion, race and nationality.

Psychographic Segmentation

Psychographics is the science of using psychology and demographics to better understand consumers. Psychographic segmentation: consumer are divided according to their lifestyle, personality, values.

"Positive" market segmentation

Market segmenting is dividing the market into groups of individual markets with similar wants or needs that a company divides into distinct groups which have distinct needs, wants, behavior or which might want different products & services. Broadly, markets can be divided according to a number of general criteria, such as by industry or public versus private. Although industrial market segmentation is quite different from consumer market segmentation, both have similar objectives. All of these methods of segmentation are merely proxies for true segments, which don't always fit into convenient demographic boundaries.

 

Economy of Ukraine

Ukraine is an agro-industrial country.

Ukraine is rich in natural resources. The main minerals are iron ore, coal, rock salt cement, gypsum uranium, different metals and other natural resources.

Ukraine fully satisfies its needs in minerals but it still has to import some of them. So, oil and gas are imported from Russia and Turkmenistan as the oil and gas deposits of Ukraine cannot satisfy country's needs in these energy resources.

In the current structure of Ukraine's industry a great proposition is occupied by heavy industry, especially, the iron, and steel, machine-building and coal industries.

A considerable part is played by the food, light and chemical industries.

Defence industry is being restructured and converted with emphasis on the output of consumer goods.

However, today's industries are unable to satisfy the consumers' wants because they are not integrated into the world process of economic, technological and scientific progress. The national industries have low standard in processing raw material and outdated and worn-out production equipment.

Ukraine is one of the world's most productive farming regions and is known as "Europe's granary".

There are two main branches of agricultural production in Ukraine: crop production and animal husbandry.

Among the crops grown in Ukraine are sugar beet, wheat, rye, barley, oats, corn, sunflower, a large variety of grain cultures, fruit and vegetables.

The most widespread branches of animal husbandry are dairy and beef cattle breeding and pig raising.

Two interrogated processes characterize Ukraine's economy today, namely its assertion as that of an independent state, and its transitionfrom planned-centralized to market-controlled.

Ukraine has currently achieved macroeconomic stability. Prices, domestic and foreign trade have been liberalized. An austere monetary policy has been introduced. Tax and budget systems are also being reformed. A twin-level banking structure took shape: the National Bank of Ukraine, and commercial banks of all types and forms of property.

"Small-scale" privatization is nearly completed in Ukraine today. Privatization has sped up for large and medium size enterprises, including enterprises in the agro-industrial sector.

Ukraine's foreign policy is aimed at wide and long-term co-operation. Ukraine is acting on the assumption that this is the most effective way of solving not only economic but also political problems.

Економіка України

Україна є аграрно-індустріальною країною.