Business English Lesson – Advanced Level''''s archiveCorporate Credit Cards pps

Business English Lesson – Advanced Level's archive
Corporate Credit Cards
1. Vincent Eavis explains that corporate payment card
usage can be divided, but not limited, into two distinct
categories: general business travel and entertainment
activities (T&E cards) and business activities
(purchasing or p-cards).

acquirement
acquisition
preferment
procurement
2. T&E spending varies according to a business's needs,
whereas the proportion of purchasing that is now done on
p-cards rather than by traditional payment methods
is continuously increasing.

cash
direct
invoice
receipt
3. T&E expenses comprise the second largest controllable
expense item for companies after salaries, consuming
approximately 50 to 80 basis of a company's
revenues.

costs
fractions
points
units
4. For T&E cards, the balance must be in full upon

presentation of the statement, or within certain defined
payment terms, typically around 25 days beyond
statement date.

approved
audited
checked
cleared
5. This means no money is made on interest as with
the consumer credit card model.

rebated
remaining
returned
revolving
6. These cards tend to be for travel and entertainment
expenses such as air travel, hotels, rail, car hire and
restaurants; the company card payments on behalf
of the individual cardholder, which is known as corporate
liability.

bears
extends
forwards
settles
7. There are also mid-way solutions such as joint and
liability, where both parties (company and individual)
can be liable.

several

single
specific
sundry
8. Typically, since corporate T&E cards are for business
expenses, the preferred option to enable control should be
corporate liability: the further liability extends to the
individual, the less the company is going to be able to
exert control and thereby the potential benefits.

grasp
pluck
reap
seize
9. P-cards are never paid an individual's bank
account.

against
at
into
under
10. P-cards can eliminate several steps in the purchase-
to-order process, and this eliminates the purchase order
paper , which can save costs of anywhere from 60 to
100 per transaction.

chase
cycle
glut
trail