B) The US Treasury

The US Treasury was created by Congress in 1789. Since that time it has been one of the major financial organisations in the US. At present the Trea­sury performs the following functions.

1. As the economic adviser to the President the Treasury has the responsibil­ity for formulating internal and external financial policy, including rec-

ommendaiions on taxation. The Treasury possesses some authority thai affects the working of the monetary system. Varied monetary influences are inherent in Treasury actions related to its management of the existing public debt.

2. In its role as a financial agent, the Treasury issues coins and banknotes,
checks, saving bonds, and other securities. Treasury borrowing through
the issuance ofnew government securities is the major method for financ­
ing a budget deficit.

3. A significant aspect of the work of the Treasury is law enforcement (реа­
лизация законодательства, применение закона) related to federal taxes
and the customs as well as collection ot'taxes and import duties,

4. A distinguishing feature of the US Treasury is its responsibility for con­
ducting investigation and punishment of fraudsters, smugglers, and coun­
terfeiters.

5. Since the establishment of the Treasury its functions have been expanding
as well as growing in complexity. In addition to its traditional activity the
Treasury ensures the personal security of the President, exercises control
over the sale of firearms, and arranges the training of personnel for law
enforcement.

Role-play The Financial System Offers Interesting Careers

Discuss with a partner where you'd like to work and in what capacity. Justify your choice. Use information from the Unit.

UNIT 5

I.

Business Communication •V¹., ', 1, Business Communication

Grammar Presentation: Инфынтт в составе оборота «Именительный па­деж с инфинитивом» — «Сложное подлежащее» (The Complex Sub­ject) • Самостоятельным причастный оборот (The Absolute Participle Construction*

Тех! В. Business Letter Writing

Grammar Presentation: Как читать цифры и числа (How to Read Figures and Numbers)

Тек! С, At a Company Meeting

Grammar Presentation: Наклонение (The Mood) • Сослагательное накло­нение (The Subjunctive Mood)

Grammar Revision: Времена (Tenses)

Social English: Meeting a Foreign Partner at the Airport

Role-play: The Lockshell Company LTD Minutes

II.

Accounting and Auditing Text. Accounting and Auditing

Role-play: Why I Want to Be an Accountant and Auditor

I.

Business Communication