国美股权之争财务管理专业英语
财务管理专业英语
财务管理专业英语financial management 财务管理decision-making 决策，决策的acquire 获得，取得publicly traded corporations 公开上市公司公众vice president of finance 财务副总裁chief financial officer 首席财务官chief executive officer 首席执行官balance sheet 资产负债表capital budgeting 资本预算working capital management 营运资本管理hurdle rate 最低报酬率capital structure 资本结构mix of debt and equity 负债与股票的组合cash dividend 现金股利stockholder 股东dividend policy 股利政策dividend-payout ratio 股利支付率stock repurchase 股票回购stock offering 股票发行tradeoff 权衡，折中common stock 普通股current liability 流动负债current asset 流动资产marketable security 流动性资产，有价证券inventory 存货tangible fixed assets 有形固定资产in tangible fixed assets 无形固定资产patent 专利trademark 商标creditor 债权人stockholds’ equity股东权益financing mix 融资组合risk aversion 风险规避volatility 易变性不稳定性allocate 配置capital allocation 资本配置business 企业商业业务financial risk 财务风险sole proprietorship 私人业主制企业partnership 合伙制企业limited partner 有限责任合伙人general partner 一般合伙人separation of ownership and control 所有权与经营权分离claim 要求主张要求权management buyout 管理层收购tender offer 要约收购financial standards 财务准则initial public offering 首次公开发行股票private corporation 私募公司未上市公司closely held corporation 控股公司board of directors 董事会executove director 执行董事non- executove director 非执行董事chairperson 主席controller 主计长treasurer 司库revenue 收入profit 利润earnings per share 每股盈余return 回报market share 市场份额social good 社会福利financial distress 财务困境stakeholder theory 利益相关者理论value (wealth) maximization 价值（财富）最大化common stockholder 普通股股东preferred stockholder 优先股股东debt holder 债权人well-being 福利diversity 多样化going concern 持续的agency problem 代理问题free-riding problem 搭便车问题information asymmetry 信息不对称retail investor 散户投资者institutional investor 机构投资者agency relationship 代理关系net present value 净现值creative accounting 创造性会计stock option 股票期权agency cost 代理成本bonding cost 契约成本monitoring costs 监督成本takeover 接管corporate annual reports 公司年报balance sheet 资产负债表income statement 利润表statement of cash flows 现金流量表statement of retained earnings 留存收益表fair market value 公允市场价值marketable securities 油价证券check 支票money order 拨款但、汇款单withdrawal 提款accounts receivable 应收账款credit sale 赊销inventory 存货property,plant,and equipment 土地、厂房与设备depreciation 折旧accumulated depreciation 累计折旧liability 负债current liability 流动负债long-term liability 长期负债accounts payout 应付账款note payout 应付票据accrued espense 应计费用deferred tax 递延税款preferred stock 优先股common stock 普通股book value 账面价值capital surplus 资本盈余accumulated retained earnings 累计留存收益hybrid 混合金融工具treasury stock 库藏股historic cost 历史成本current market value 现行市场价值real estate 房地产outstanding 发行在外的a profit and loss statement 损益表net income 净利润operating income 经营收益earnings per share 每股收益simple capital structure 简单资本结构dilutive 冲减每股收益的basic earnings per share 基本每股收益complex capital structures 复杂的每股收益diluted earnings per share 稀释的每股收益convertible securities 可转换证券warrant 认股权证accrual accounting 应计制会计amortization 摊销accelerated methods 加速折旧法straight-line depreciation 直线折旧法statement of changes in shareholders’equity 股东权益变动表source of cash 现金来源use of cash 现金运用operating cash flows 经营现金流cash flow from operations 经营活动现金流direct method 直接法indirect method 间接法bottom-up approach 倒推法investing cash flows 投资现金流cash flow from investing 投资活动现金流joint venture 合资企业affiliate 分支机构financing cash flows 筹资现金流cash flows from financing 筹资活动现金流time value of money 货币时间价值simple interest 单利debt instrument 债务工具annuity 年金future value 终至present value 现值compound interest 复利compounding 复利计算pricipal 本金mortgage 抵押credit card 信用卡terminal value 终值discounting 折现计算discount rate 折现率opportunity cost 机会成本required rate of return 要求的报酬率cost of capital 资本成本ordinary annuity普通年金annuity due 先付年金financial ratio 财务比率deferred annuity 递延年金restrictive covenants 限制性条款perpetuity 永续年金bond indenture 债券契约face value 面值financial analyst 财务分析师coupon rate 息票利率liquidity ratio 流动性比率nominal interest rate 名义利率current ratio 流动比率effective interest rate 有效利率window dressing 账面粉饰going-concern value 持续经营价值marketable securities 短期证券liquidation value 清算价值quick ratio 速动比率book value 账面价值cash ratio 现金比率marker value 市场价值debt management ratios 债务管理比率intrinsic value 内在价值debt ratio 债务比率mispricing 给……错定价格debt-to-equity ratio 债务与权益比率valuation approach 估价方法equity multiplier 权益乘discounted cash flow valuation 折现现金流量模型long-term ratio 长期比率undervaluation 低估debt-to-total-capital 债务与全部资本比率overvaluation 高估leverage ratios 杠杆比率option-pricing model 期权定价模型interest coverage ratio 利息保障比率contingent claim valuation 或有要求权估价earnings before interest and taxes 息税前利润promissory note 本票cash flow coverage ratio 现金流量保障比率contractual provision 契约条款asset management ratios 资产管理比率par value 票面价值accounts receivable turnover ratio 应收账款周转率maturity value 到期价值inventory turnover ratio 存货周转率coupon 息票利息inventory processing period 存货周转期coupon payment 息票利息支付accounts payable turnover ratio 应付账款周转率coupon interest rate 息票利率cash conversion cycle 现金周转期maturity 到期日asset turnover ratio 资产周转率term to maturity 到期时间profitability ratio 盈利比率call provision赎回条款gross profit margin 毛利润call price 赎回价格operating profit margin 经营利润sinking fund provision 偿债基金条款net profit margin 净利润conversion right 转换权return on asset 资产收益率put provision 卖出条款return on total equity ratio 全部权益报酬率indenture 债务契约return on common equity 普通权益报酬率covenant 条款market-to-book value ratio 市场价值与账面价值比率trustee 托管人market value ratios 市场价值比率protective covenant 保护性条款dividend yield 股利收益率negative covenant 消极条款dividend payout 股利支付率positive covenant 积极条款financial statement财务报表secured deht担保借款profitability 盈利能力unsecured deht信用借款viability 生存能力creditworthiness 信誉solvency 偿付能力collateral 抵押品collateral trust bonds 抵押信托契约debenture 信用债券bond rating 债券评级current yield 现行收益yield to maturity 到期收益率default risk 违约风险interest rate risk 利息率风险authorized shares 授权股outstanding shares 发行股treasury share 库藏股repurchase 回购right to proxy 代理权right to vote 投票权independent auditor 独立审计师straight or majority voting 多数投票制cumulative voting 积累投票制liquidation 清算right to transfer ownership 所有权转移权preemptive right 优先认股权dividend discount model 股利折现模型capital asset pricing model 资本资产定价模型constant growth model 固定增长率模型growth perpetuity 增长年金mortgage bonds 抵押债券portfolio 组合diversifiable risk可分散风险market risk 市场风险expected return 期望收益volatility 流动性stand-alone risk 个别风险random variable 随机变量。
财务管理专业英语topic
Maximize the value of the firm (or the shareholders’ wealth) (企业价值最大化或股东财富最大化)
Mini CMasinei case
In 1990, two of General Motor’s largest
She worked for the well-being of the underprivileged. 她为下层贫困民众的福利而努力。
We must diversify our products. 我们必须于产品多样化。 23.learning curve 学习曲线 going concern 持续的 24.agency problem 代理问题
New York Stock Exchange composite index 纽约证券交易所混合指数 10.Financial standards 财务准则
11.initial public offering (IP0) 首次公开发行股票
A $100 investment in Dell stock at the 1988 initial public
7.Management buyout 管理层收购 管理层收购在英文中简称MBO，是指公司的经营
管理者利用借贷融资买断或控制公司的股份，旨在改 变公司的所有者结构、控制权结构和资产结构，使公 司原经营者变成企业所有者的一种收购行为。MBO的 主要投资者是目标公司的管理人员，或是管理人员与 投资者结成的联盟，通过MBO，他们的身份由单一的 经营者角色变为所有者与经营者合一的双重身份。
GM’s senior
财务管理会计关键术语英语
会计关键术语（英文）：股利支付率：dividend payout ratio个人独资企业：sole proprietorship有限责任合伙：limited partnership有限责任公司：limited liability company , LIC股份有限公司：corporation财务管理目标：financial management objective利润最大化：profit maximization股东财富最大化：maximum of shareholders wealth 企业价值最大化：maximum of enterprise value委托—代理问题：principal—agent proplem逆向选择：adverse selection企业社会责任：corporate social responsibility , CRS 利益相关者：stakeholders货币市场：money market资本市场：capital market一级市场：primary market二级市场：secondary market场内交易市场：exchange traded market场外交易市场：over—the—counter market , OTC金融中介：financial intermediaries金融市场：financial markets营运资本：working capital合伙企业：partnership道德风险：moral hazard财务报告：financial report资产负债表：balance sheet利润表：income statement现金流量表：statement of cash flows营业现金流量：operating cash flow自由现金流：free cash flow流动比率：liquidity ratio or current ratio速动比率：quick ratio现金比率：cash ratio现金流量比率：cash flow ratio资产负债率：asset—liability ratio产权比率：equity ratio权益乘数：equity multiplier存货周转率：inventory turnover ratio利息保障倍数：times interest earned ratio , TIE 应收账款周转率：receivables turnover ratio股利支付率：payout ratio总资产周转率：total assets turnover销售净利率：profit margin on sales总资产报酬率：return on assets , ROA股东权益报酬率：return on equity , ROE每股收益：earnings per share , EPS留存比率：plowback ratio市盈率：price / earnings ratio , P/E市净率：price / book-value ratio , P / B货币时间价值：time value of money无风险利率：risk-free interest rate名义无风险利率：nominal risk-free interest rate 实际无风险利率：real risk-free interest rate现金流量时间序列线：cash flow time line现值：present value终值：future value单利：simple interest复利：compound interest折现：discounting年金：annuity年金终值：futere value of annuity , FV A年金现值：present value of annuity , PV A普通年金：ordinary annuity先付年金：annuity due递延年金：deferred annuity永续年金：peroetuity年度百分比利率：annual percentage rate有效年利率：effective annual rate实际报酬率：realized return期望报酬率：expected rate of ruturn标准差：standard deviation变异系数：coefficient of variation , CV风险溢价：risk premium协方差：covariance相关系数：correlation无效投资组合：inefficient protfolio有效投资组合：efficient protfolio有效边界：efficient frontier切点投资组合：tangent protfolio系统风险：systematic risk非系统风险：unsystematic risk资本资产定价模型：capital asset pricing model , CAPM 市场组合：market portfolio必要报酬率：required return资本市场线：capital market line , CML证券市场线：security market line , SML债券：bond债券凭证：bond certificate面值：coupons票面利息：coupons票面利率：coupon rate平息债券：level-coupon bond零息债券：zero-coupon bond到期日：maturity date期限：term到期收益率：yield to maturity , YTM股票：stock经济增加值：economic value added , EV A股利折现模型：dividend discount model , DDM有效市场假说：efficient market hypothesis , EMH 长期投资：long-term investment资本预算：captial budget长期投资决策：long-term investment decision会计利润：accounting profit现金流量：cash flow增量现金流量：incremental cash flow沉没成本：sunk cost机会成本：oppportunity cost相关成本：relevant cost营运成本：working capital折旧：depreciation投资回收期：payback period , PBP净现值：net present value , NPV获利指数：profitability index , PI内含报酬率：internal rates of return , IRR折现回收期：discounted payback period , DPB 注册资本：registered capital普通股：common stock库存股：treasury stock设定价值：assigned value代理委托书：proxy相对多数投票制：plurality voting累积投票制：cumulative voting多数原则投票制：majority voting长期借款：long-term loan抵押贷款：mortgage loan信用贷款：credit loan信用债券：debenture次级债券：subordinated debentures收益债券：income bond垃圾债券：junk bonds抵押债券：mortgage bond优先股：preferred stock累积股利条款：comulative dividends feature积欠股利：arrearage可参与优先股：participating preferred stock认股权证：warrant可分割认股权证：detachable warrant可转换债券：convertible security转换价值：convertible value转换价值溢价：premium conversion value杠杆收购：leveraged buyout , LBO管理层收购：managemnet buyout , MBO要约收购：tender offer经营租赁：operating leasing融资租赁：financial leasing售后回租：sale and leaseback资本成本：cost of capital优先股成本：cost of preferred stock留存收益成本：cost of retain earnings资本资产定价模型：CAPM加权平均资本成本：weighted average cost of capital , W ACC 边际资本成本：marginal cost of capital , MCC突破点：break point , BP资本结构：capital structure目标资本结构：expired capital structure经营杠杆系数：degree of operating leverage , DOL 财务杠杆系数：degree of financial leverage , DFL 综合杠杆系数：degree of total leverage , DTL股票回购：stock repurchase股票分割：stock split股票股利：stock dividend营运资本：working capital净营运资本：net working capital总营运资本：gross working capital永久性流动资产：permanent current assets临时性流动资产：temporary current assets经营周期：operating cycle现金周期：cash cycle存货周转期：inventory turnover period应收账款回收期：account receivable collection period 期限匹配法：maturity matching approach补偿性余额：compensating balances现金预算：cash budget浮游量：float锁相制度：lockbox system零余额账户：zero balance account , ZBA存货模型：inventory model成本分析模型：cast analysis model米勒—奥尔模型：Miller-Orr model短期国库券：treasury bills , T bills商业票据：commercial paper , CP银行承兑汇票：banker’s acceptance , BAs资产池：asset pool可转让定期存单：negotiable certificate of deposit , CD 资产证券化：asset securitization信用政策：credit policy信用标准：credit standard信用条件：credit terms收款政策：collections policy经济订货量：economic order quantity , EOQ再订货点：reorder point保险储备：safety stock商业信用：commercial credit基准利率：prime rate期权：option敲定价格：strike price到期日：expiration date美式期权：American options欧式期权：European options看涨期权：call option看跌期权：put option实值：in-the-money虚值：out-the-money套利：arbitrage正常市场：normal market一价定律：law of one pprice无套利价格：no-arbitrage price卖权—买权平价关系：put-call parity内在价值：intrinsic value时间价值：time value公司控制权市场：market for corporate control 接管市场：takeover market收购方：acquirer竞投者：bidder目标公司：target firm并购：takeover收购溢价：acquisition premium规模经济：economies of scales范围经济：economies of scope纵向整合: vertical integration换股比率：exchange ratio善意并购：friendly takeover敌意并购：hostile takeover搭便车问题：free rider problem杠杆收购：leverage buyout , LBO资产剥离：divesture公司分立：enterprise separation财务困境：financial distress抛补利率平价等式：covered interest parity equation国际整合资本市场：internationally integrated capital market 分割的资本市场：segmented capital markets11。
财务管理专业英语Topic 10
Dividends and Dividend Policy
Types of Dividends
❖ Cash Dividends ❖ Stock Dividends ❖ Property Dividends
❖ Second, the dividend can be a regular dividend, which is paid at regular intervals (quarterly, semi-annually, or annually), or a special dividend, which is paid in addition to the regular dividend.
❖ 股利宣布日是董事会宣布他们打算支付股利的日 期。
❖ The ex-dividend date is the cut-off date for receiving the dividend.
❖ 除息日是收到股利的截止日期。
❖ The record date is the date on which an investor must be a shareholder of the record to be entitled to the upcoming dividend only if they have bought the stock for at least two business days before the record date.
❖ In chronological order, the four important dates associated with a dividend payment are as follows.
财务管理英汉对照
1.1、the financial manager plays a dynamic role in a modern company's development. this has not always been the case. until around the first half of the 1900s financial managers primarily raised funds and managed their firms' cash positions-and that was pretty much it. in the 1950s, the increasing acceptance of present value concepts encouraged financial managers to expand their responsibilities and to become concerned with the selection of capital investment projects.财务经理的能动作用，在现代公司的发展。
这并非总是如此。
直到1900财务经理上半年各地主要募集资金和管理他们公司的现金头寸，这是差不多了。
在20世纪50年代，目前的价值观念越来越多地接受,鼓励财务经理去扩大自己的责任,并涉及资本投资项目的选择。
1.2、T oday, external factors have an increasing impact on the financial manager. Heightened corporate competition, technological change, volatility in inflation and interest rates, worldwide economic uncertainty, fluctuating exchange rates, tax law changes, and ethical concerns over certain financial dealings must be dealt with almost daily. As a result, finance is required to play an ever more vital strategic role within the corporation. The financial manager has emerged as a team player in the overall effort of a company to create value. The “old ways of doing things” simply are not good enough in the world where old ways quickly become obsolete. Thus, today’s financial mana ger must have the flexibility to adapt to the changing external environment if his or her firm is to survive.如今，外部因素对财务经理的影响越来越大。
财务管理专业英语练习及答案
The following information is available for T om, a limited liability company:Summarized income statement for the year ended 31 December 2010.$’000Profit from operations 3,650Finance cost (loan note interest) (300)3,350Income tax expense (700)Net profit for the period 2,650Notes:1.The additional loan notes were issued on 1 January 2010. Interest was paid on 30 June2010 and 31 December 2010.2.Dividends paid during the year amounted to $750,000.RequiredPrepare the company’s cash flow statement for the year ended 31 December 2010.Cash flow statement for the year ended 31 December 2010$’000 Net profit 2,650 Add: depreciation [5,600-4,800] 800 Operating profit before working capital changes 3,450 Decrease in inventories (3,400-3,800) 400 Increase in receivables (3,800-2,900) (900) Increase in payables (3,700-3,200) 500 Increase in accruals (700-600) 100 Cash generated from operations 3,550Cash flows from investing activitiesPayments to acquire non-current assets (5,400-3,200+800) (3,000) Net cash used in investing activities (3,000)Cash flow from financing activitiesProceeds from issue of loan notes (3,000-2,000) 1,000 Dividends paid (750) Net cash from financing activities 250 Net increase in cash 800 Cash at 1 January 2010 400 Cash at 31 December 2010 1,200Below are the most recent financial statements for Wildhack. Based on the balance sheet and income statement, calculate the following ratios for 2010:(1)Current ratio; (2) Quick ratio; (3) Cash ratio; (4) Debt ratio; (5) Long-term debt ratio;(6) Times interest earned; (7) Cash flow coverage ratio; (8) Accounts receivable turnover ratio; (9) Inventory turnover ratio; (10) Accounts payable turnover ratio; (11) T otal asset turnover ratio; (12) Gross profit margin; (13) Net profit margin; (14) ROA (use net income in the numerator); (15) ROEWildhack Corporation2010 Income StatementWildhack CorporationBalance Sheet as of December 31, 2009 and 20101、Current ratio=648/1183=0.552、Quick ratio=(88+192)/1183=0.243、Cash ratio=88/1183=0.074、Debt ratio=(1183+2077)/6002=0.545、Long-term debt ratio=2077/6002=0.356、Times interest earned=813/613=1.337、Cash flow coverage ratio=(813+490)/613=2.138、Accounts receivable turnover ratio=2*3756/(224+192)=18.069、Inventory turnover ratio=2*2453/(424+368)=6.1910、Accounts payable turnover ratio=2*2453/(124+144)=18.3111、T otal assets turnover ratio=2*3756/(5996+6002)=0.6312、Gross profit margin=(3756-2453)/3756=0.3513、Net profit margin=132/3756=0.0414、ROA=2*132/(5996+6002)=0.0215、ROE=2*132/(2656+2742)=0.05Gross Sales 销售总额Less: Sales Returns and Allowances 销售退回及折让Sales Discounts 销售折扣Net Sales 销售净额Less: Cost of Goods Sold 销售成本Gross Profit on Sales 销售毛利Net Sales=Net Cash Sale + Net Credit Sale销售净额=现销净额+赊销净额。
财务管理专业英语(吐血整理)
Topic1：1、Financial management is an integrated decision-making process concerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity.财务管理是为了实现一个公司总体目标而进行的涉及到获取、融资和资产管理的综合决策过程。
2、Making financial decisions is an integral part of all forms and sizes of business organizations from small privately-hold forms to large publicly-traded corporations.做财务决策对于所有形式和规模的商业组织，无论是小型私人公司还是大型公开上市公司，都是不可分割的一部分。
3、In today’s rapidly changing environment, the financ ial manager must have the flexibility to adapt to external factors such as economic uncertainty, global competition, technological change, volatility of interest and exchange rates, changes in laws and regulations, and ethical concerns.在当今瞬息万变的环境中，财务经理必须具备足够的灵活性以适应外部因素，如经济的不确定性、国际竞争、技术变革、利息波动、汇率变动、法律法规变化以及商业道德问题。
财务管理专业英语句子及单词翻译
财务管理专业英语句子及单词翻译Financial management is an integrated decision-making process concerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity.财务管理是为了实现一个公司总体目标而进行的涉及到获取、融资和资产管理的综合决策过程。
Decisions involving a firm’s short-term assets and liabilities refer to working capital management.决断涉及一个公司的短期的资产和负债提到营运资金管理The firm’s long-term financing decisions concern the right-hand side of the balance sheet.该公司的长期融资决断股份资产负债表的右边。
This is an important decision as the legal structure affects the financial risk faced by the owners of the company.这是一个重要的决定作为法律结构影响金融风险面对附近的的业主的公司。
The board includes some members of top management(executive directors), but should also include individuals from outside the company(non-executive directors).董事会包括有些隶属于高层管理人员(执行董事)，但将也包括个体从外公司(非执行董事)。
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财务管理专业英语
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Enterprise agency problem
---Gome Electrical Appliances Holdings proxy war In the summer of 2010, Gome Electrical Appliances Holdings that the Chinese biggest electrical appliances retailing enterprises erupted struggle a fighting for the company "control right" suddenly! One side is its founder and former chairman Huang Guangyu, and his family；One was the chairman Gome Electrical Appliances Holdings, Chen Xiao, and his team. The two camps, with strong international capital Bain intervention, had formed three forces.
Mr. Huang, who owns a 34% stake in GOME, was sentenced by a Chinese court in May to 14 years in prison on charges of insider trading and bribery. Since his sentencing, Mr. Huang has been battling Mr. Chen to regain control of the Hong Kong-listed company. The disagreement between Mr. Huang and Mr. Chen because the Chen Xiao raised $418m from Bain Capital in 2009.Bain Capital planed to double its investment in the company, to 10%, by exercising its right to convert bonds into stock, a move that would also dilute Mr. Huang's holding. GOME also has said that it plans to issue new shares equal to 20% of its current outstanding shares, which could dilute Mr. Huang's stake. Mr. Huang tried his best to preserve his major stockholder status, and never let enterprise depart from their years of development direction. Finally Chen Xiao resigned that the
drawn-out battle between senior management and the company founder draw to a close.
Regardless of other factors, the fight for GOME sourced from in shareholder regarding corporate management level commercial program disaffection. In the essence is to achieve enterprise's final domination through the strategic competition, which is the core of the general proxy fight of the shareholder interest object between the professional manager interest object. Manifests the professional manager to exceed authority with the offside, to major stockholder benefit and status challenge When after replaced by Chen Xiao, between board of directors's right of autonomous management and the major stockholder benefit protection balance already is broken.
In the management and shareholder interests are not consistent, when the shareholder cannot exercise the shareholder responsibility, how prevented the management level exceeds the authority the question to become the company to govern the difficulty. The clear responsibility power mechanism is essential, especially to clarify the legal status of shareholders and professional managers.In terms of corporate governance, the shareholder between the management of only two powers keeps in balance. At the same time have a good communication and trust, each other to be fear, somewhat abstemious, somewhat constrained.。