CPA综合英语词汇汇总-北注协-财管
中国注册会计师考试英文测试词汇整理
现⾦ Cash in hand银⾏存款 Cash in bank其他货币资⾦-外埠存款Other monetary assets - cash in other cities其他货币资⾦-银⾏本票 Other monetary assets - cashier‘s check其他货币资⾦-银⾏汇票 Other monetary assets - bank draft其他货币资⾦-信⽤卡 Other monetary assets - credit cards其他货币资⾦-信⽤证保证⾦ Other monetary assets - L/C deposit其他货币资⾦-存出投资款 Other monetary assets - cash for investment 短期投资-股票投资 Investments - Short term - stocks短期投资-债券投资 Investments - Short term - bonds短期投资-基⾦投资 Investments - Short term - funds短期投资-其他投资 Investments - Short term - others短期投资跌价准备 Provision for short-term investment长期股权投资-股票投资 Long term equity investment - stocks长期股权投资-其他股权投资 Long term equity investment - others长期债券投资-债券投资 Long term securities investemnt - bonds长期债券投资-其他债权投资 Long term securities investment - others 长期投资减值准备 Provision for long-term investment应收票据 Notes receivable应收股利 Dividends receivable应收利息 Interest receivable应收帐款 Trade debtors坏帐准备- 应收帐款 Provision for doubtful debts - trade debtors预付帐款 Prepayment应收补贴款 Allowance receivable其他应收款 Other debtors坏帐准备- 其他应收款 Provision for doubtful debts - other debtors其他流动资产 Other current assets物资采购 Purchase原材料 Raw materials包装物 Packing materials低值易耗品 Low value consumbles材料成本差异 Material cost difference⾃制半成品 Self-manufactured goods库存商品 Finished goods商品进销差价 Difference between purchase & sales of commodities 委托加⼯物资 Consigned processiong material委托代销商品 Consignment-out受托代销商品 Consignment-in分期收款发出商品 Goods on instalment sales存货跌价准备 Provision for obsolete stocks待摊费⽤ Prepaid expenses待处理流动资产损益 Unsettled G/L on current assets待处理固定资产损益 Unsettled G/L on fixed assets委托贷款-本⾦ Consignment loan - principle委托贷款-利息 Consignment loan - interest委托贷款-减值准备 Consignment loan - provision固定资产-房屋建筑物 Fixed assets - Buildings固定资产-机器设备 Fixed assets - Plant and machinery固定资产-电⼦设备、器具及家具 Fixed assets - Electronic Equipment, furniture and fixtures 固定资产-运输设备 Fixed assets - Automobiles累计折旧 Accumulated depreciation固定资产减值准备 Impairment of fixed assets⼯程物资-专⽤材料 Project material - specific materials⼯程物资-专⽤设备 Project material - specific equipment⼯程物资-预付⼤型设备款 Project material - prepaid for equipment⼯程物资-为⽣产准备的⼯具及器具 Project material - tools and facilities for production在建⼯程 Construction in progress在建⼯程减值准备 Impairment of construction in progress固定资产清理 Disposal of fixed assets⽆形资产-专利权 Intangible assets - patent⽆形资产-⾮专利技术 Intangible assets - industrial property and know-how⽆形资产-商标权 Intangible assets - trademark rights⽆形资产-⼟地使⽤权 Intangible assets - land use rights⽆形资产-商誉 Intangible assets - goodwill⽆形资产减值准备 Impairment of intangible assets长期待摊费⽤ Deferred assets未确认融资费⽤ Unrecognized finance fees其他长期资产 Other long term assets递延税款借项 Deferred assets debits应付票据 Notes payable应付帐款 Trade creditors预收帐款 Adanvances from customers代销商品款 Consignment-in payables其他应交款 Other payable to government其他应付款 Other creditors应付股利 Proposed dividends待转资产价值 Donated assets预计负债 Accrued liabilities应付短期债券 Short-term debentures payable其他流动负债 Other current liabilities预提费⽤ Accrued expenses应付⼯资 Payroll payable应付福利费 Welfare payable短期借款-抵押借款 Bank loans - Short term - pledged短期借款-信⽤借款 Bank loans - Short term - credit短期借款-担保借款 Bank loans - Short term - guaranteed⼀年内到期长期借款 Long term loans due within one year⼀年内到期长期应付款 Long term payable due within one year 长期借款 Bank loans - Long term应付债券-债券⾯值 Bond payable - Par value应付债券-债券溢价 Bond payable - Excess应付债券-债券折价 Bond payable - Discount应付债券-应计利息 Bond payable - Accrued interest长期应付款 Long term payable专项应付款 Specific payable其他长期负债 Other long term liabilities应交税⾦-所得税 Tax payable - income tax应交税⾦-增值税 Tax payable - VAT应交税⾦-营业税 Tax payable - business tax应交税⾦-消费税 Tax payable - consumable tax应交税⾦-其他 Tax payable - others递延税款贷项 Deferred taxation credit股本 Share capital已归还投资 Investment returned利润分配-其他转⼊ Profit appropriation - other transfer in利润分配-提取法定盈余公积 Profit appropriation - statutory surplus reserve利润分配-提取法定公益⾦ Profit appropriation - statutory welfare reserve利润分配-提取储备基⾦ Profit appropriation - reserve fund利润分配-提取企业发展基⾦ Profit appropriation - entERPrise development fund利润分配-提取职⼯奖励及福利基⾦ Profit appropriation - staff bonus and welfare fund 利润分配-利润归还投资 Profit appropriation - return investment by profit利润分配-应付优先股股利 Profit appropriation - preference shares dividends利润分配-提取任意盈余公积 Profit appropriation - other surplus reserve利润分配-应付普通股股利 Profit appropriation - ordinary shares dividends利润分配-转作股本的普通股股利 Profit appropriation -ordinary shares dividends converted to shares期初未分配利润 Retained earnings, beginning of the year资本公积-股本溢价 Capital surplus - share premium资本公积-接受捐赠⾮现⾦资产准备 Capital surplus - donation reserve资本公积-接受现⾦捐赠 Capital surplus - cash donation资本公积-股权投资准备 Capital surplus - investment reserve资本公积-拨款转⼊ Capital surplus - subsidiary资本公积-外币资本折算差额 Capital surplus - foreign currency translation 资本公积-其他 Capital surplus - others盈余公积-法定盈余公积⾦ Surplus reserve - statutory surplus reserve盈余公积-任意盈余公积⾦ Surplus reserve - other surplus reserve盈余公积-法定公益⾦ Surplus reserve - statutory welfare reserve盈余公积-储备基⾦ Surplus reserve - reserve fund盈余公积-企业发展基⾦ Surplus reserve - entERPrise development fund 盈余公积-利润归还投资 Surplus reserve - reture investment by investment 主营业务收⼊ Sales主营业务成本 Cost of sales主营业务税⾦及附加 Sales tax营业费⽤ Operating expenses管理费⽤ General and administrative expenses财务费⽤ Financial expenses投资收益 Investment income其他业务收⼊ Other operating income营业外收⼊ Non-operating income补贴收⼊ Subsidy income其他业务⽀出 Other operating expenses营业外⽀出 Non-operating expenses所得税 Income tax直接⼈⼯成本差异（direct labor variance）直接材料成本差异（direct material variance）在产品计价（work-in-process costing）联产品成本计算（joint products costing）⽣产成本汇总程序（accumulation process of procluction cost）制造费⽤差异（manufacturing expenses variance）实际成本与估计成本（actual cost and estimated cost）⼯资费⽤分配（salary costs allocation）成本曲线（cost curve）农业⽣产成本（agriculture production cost）原始成本和重置成本（original cost and replacement cost）⼯程施⼯成本直接成本与间接成本（direct cost and indirect cost）可控成本（controllable cost）制造费⽤分配（manufacturing expenses allocation）理论成本与应⽤成本（theory cost and practice cost）辅助⽣产成本分配（auxiliary production cost allocation）期间,费⽤成本控制程序（procedure of cost control）成本记录（cost entry, cost recorder cost agenda）成本计算分批法（job costing method）成本计算分步法直接⼈⼯成本差异（direct labor variance）成本控制⽅法（cost control method）内河运输成本⽣产费⽤要素（elements of production expenses）历史成本与未来成本（historical cost and future cost）可避免成本与不可避免成本（avoidable cost and unavoidable cost）成本计算期（cost period）平均成本与个别成本（avorage cost and individual cost）跨期摊提费⽤分配（inter-period expenses allocation）计划成本（planned cost）数量差异（quantity variance）燃料费⽤分配（fuel expenses allocation）定额成本控制制度（norm cost control system）定额管理（management norm）可递延成本与不可递延成本（deferrable cost and undeferrable cost）成本控制标准（standard of cost control）副产品成本计算（by-product costing）责任成本（responsibility cost）⽣产损失核算（production loss accounting）⽣产成本（production cost）预计成本（predicted cost）成本结构（cost structure）房地产开发成本主要成本与加⼯成本（prime costs and processing costs）决策成本（cost of decision making）成本计算品种法（category costing method）在产品成本（work-in-process cost）⼯⼚成本（factory cost）成本考核（cost assess ）制造费⽤（manufactruing expenses）动⼒费⽤分配（power expenses allocation）趋势分析法（trend analysis approach）成本计算简单法（simple costing method）责任成本层次（levels of responsibility cost）对⽐分析法（comparative analysis approach）约当产量⽐例法（equivalent units method）原始记录（original record）可⽐产品成本分析（general product cost analysis）成本计算⽅法（costing method）成本计算对象（costing objective）成本计算单位（costing unit）成本计划完成情况分析成本计划管理体系（planned management system of cost）成本计划（cost plan）成本会计（cost accounting）成本核算原则（principle of costing）成本核算程序（cost accounting qrocedures）成本核算成本（costing account）成本核算（costing）成本归集（cost accumulation）成本管理（cost management）成本分析（cost analysis）成本分配（ocst allocation）成本分类账（cost ledger）成本分类（cost classifiction）成本费⽤界限成本调整（cost adjustment）成本差异（cost variance）成本报告（costing report）成本（cost）车间成本（workshop cost）⼚内经济核算制（internal business accounting system）⼚内结算价格（internal settlement prices）产品寿命周期成本（product life cycle cost）产品成本项⽬（cost items of product）产品成本技术经济分析产品成本计划（the plan of product costs）产品成本（product cost）初级会计汇总原始凭证（cumulative source document）汇总记账凭证核算形式（bookkeeping procedure using summary ovchers）⼯作底稿（working paper）复式记账凭证（mvltiple account titles voucher）复式记账法（Double entry bookkeeping）复合分录（compound entry）划线更正法（correction by drawing a straight ling）汇总原始凭证（cumulative source document）会计凭证（accounting documents）会计科⽬表（chart of accounts）会计科⽬（account title）红字更正法（correction by using red ink）会计核算形式（bookkeeping procedures）过账（posting）会计致迹╝ccounting entry）会计循环（accounting cycle）会计账簿（Book of accounts）活页式账簿（loose-leaf book）集合分配账户（clearing accounts）计价对⽐账户（matching accounts）记账⽅法（bookkeeping methods）记账规则（recording rules）记账凭证（voucher）记账凭证核算形式（Bookkeeping proced ureusing vouchers）记账凭证汇总表核算形式（bookkeeping procedure using categorized account summary）简单分录（simple entry）结算账户（settlement accounts）结账（closing account）结账分录（closing entry）借贷记账法（debit-credit bookkeeping）通⽤⽇记账核算形式（bookkeeping procedure using general journal）外来原始凭证（source document from outside）现⾦⽇记账（cash journal）虚账户（nominal accounts）序时账簿（book of chronological entry）⼀次凭证（single-record document）银⾏存款⽇记账（deposit journal）永续盘存制（pERPetual inventory system）原始凭证（source document）暂记账户（suspense accounts）增减记账法（increase-decrease bookkeeping）债权结算账户（accounts for settlement of claim）债权债务结算账户（accounts for settlement of claim and debt）债务结算账户（accounts for settlement of debt）账户（account）账户编号（Account number）账户对应关系（debit-credit relationship）账项调整（adjustment of account）专⽤记账凭证（special-purpose voucher）转回分录（reversing entry）资⾦来源账户（accounts of sources of funds）资产负债账户（balance sheet accounts）转账凭证（transfer voucher）资⾦运⽤账户（accounts of applications of funds）⾃制原始凭证（internal source document）总分类账簿（general ledger）总分类账户（general account）附加账户（adjunct accounts）付款凭证（payment voucher）分类账簿（ledger）中级会计固定资产（fixed assets）利润总额利益分配（profit distribution）应计费⽤（accrued expense）商标权（trademarks and tradenames）全部履⾏法净利润（net income）应付利润（profit payable）未分配利润收益债券（income bonds）货币资⾦。
中国注册会计师考试英文测试词汇整理
中国注册会计师考试英文测试词汇整理现金 Cash in hand银行存款 Cash in bank其他货币资金-外埠存款Other monetary assets - cash in other cities 其他货币资金-银行本票 Other monetary assets - cashier‘s check其他货币资金-银行汇票 Other monetary assets - bank draft其他货币资金-信用卡 Other monetary assets - credit cards其他货币资金-信用证保证金 Other monetary assets - L/C deposit其他货币资金-存出投资款 Other monetary assets - cash for investment 短期投资-股票投资 Investments - Short term - stocks短期投资-债券投资 Investments - Short term - bonds短期投资-基金投资 Investments - Short term - funds短期投资-其他投资 Investments - Short term - others短期投资跌价准备 Provision for short-term investment长期股权投资-股票投资 Long term equity investment - stocks长期股权投资-其他股权投资 Long term equity investment - others长期债券投资-债券投资 Long term securities investemnt - bonds长期债券投资-其他债权投资 Long term securities investment - others 长期投资减值准备 Provision for long-term investment应收票据 Notes receivable应收股利 Dividends receivable应收利息 Interest receivable应收帐款 Trade debtors坏帐准备- 应收帐款 Provision for doubtful debts - trade debtors预付帐款 Prepayment应收补贴款 Allowance receivable其他应收款 Other debtors坏帐准备- 其他应收款 Provision for doubtful debts - other debtors 其他流动资产 Other current assets物资采购 Purchase原材料 Raw materials包装物 Packing materials低值易耗品 Low value consumbles材料成本差异 Material cost difference自制半成品 Self-manufactured goods库存商品 Finished goods商品进销差价 Difference between purchase & sales of commodities委托加工物资 Consigned processiong material委托代销商品 Consignment-out受托代销商品 Consignment-in分期收款发出商品 Goods on instalment sales存货跌价准备 Provision for obsolete stocks待摊费用 Prepaid expenses待处理流动资产损益 Unsettled G/L on current assets待处理固定资产损益 Unsettled G/L on fixed assets委托贷款-本金 Consignment loan - principle委托贷款-利息 Consignment loan - interest委托贷款-减值准备 Consignment loan - provision固定资产-房屋建筑物 Fixed assets - Buildings固定资产-机器设备 Fixed assets - Plant and machinery固定资产-电子设备、器具及家具 Fixed assets - Electronic Equipment, furniture and fixtures固定资产-运输设备 Fixed assets - Automobiles累计折旧 Accumulated depreciation固定资产减值准备 Impairment of fixed assets工程物资-专用材料 Project material - specific materials工程物资-专用设备 Project material - specific equipment工程物资-预付大型设备款 Project material - prepaid for equipment工程物资-为生产准备的工具及器具 Project material - tools and facilities for production在建工程 Construction in progress在建工程减值准备 Impairment of construction in progress固定资产清理 Disposal of fixed assets无形资产-专利权 Intangible assets - patent无形资产-非专利技术 Intangible assets - industrial property and know-how无形资产-商标权 Intangible assets - trademark rights无形资产-土地使用权 Intangible assets - land use rights无形资产-商誉 Intangible assets - goodwill无形资产减值准备 Impairment of intangible assets长期待摊费用 Deferred assets未确认融资费用 Unrecognized finance fees其他长期资产 Other long term assets递延税款借项 Deferred assets debits应付票据 Notes payable应付帐款 Trade creditors预收帐款 Adanvances from customers代销商品款 Consignment-in payables其他应交款 Other payable to government其他应付款 Other creditors应付股利 Proposed dividends待转资产价值 Donated assets预计负债 Accrued liabilities应付短期债券 Short-term debentures payable其他流动负债 Other current liabilities预提费用 Accrued expenses应付工资 Payroll payable应付福利费 Welfare payable短期借款-抵押借款 Bank loans - Short term - pledged短期借款-信用借款 Bank loans - Short term - credit短期借款-担保借款 Bank loans - Short term - guaranteed一年内到期长期借款 Long term loans due within one year一年内到期长期应付款 Long term payable due within one year 长期借款 Bank loans - Long term应付债券-债券面值 Bond payable - Par value应付债券-债券溢价 Bond payable - Excess应付债券-债券折价 Bond payable - Discount应付债券-应计利息 Bond payable - Accrued interest长期应付款 Long term payable专项应付款 Specific payable其他长期负债 Other long term liabilities应交税金-所得税 Tax payable - income tax应交税金-增值税 Tax payable - VAT应交税金-营业税 Tax payable - business tax应交税金-消费税 Tax payable - consumable tax应交税金-其他 Tax payable - others递延税款贷项 Deferred taxation credit股本 Share capital已归还投资 Investment returned利润分配-其他转入 Profit appropriation - other transfer in利润分配-提取法定盈余公积 Profit appropriation - statutory surplus reserve利润分配-提取法定公益金 Profit appropriation - statutory welfare reserve利润分配-提取储备基金 Profit appropriation - reserve fund利润分配-提取企业发展基金 Profit appropriation - enterprise development fund 利润分配-提取职工奖励及福利基金 Profit appropriation - staff bonus and welfare fund利润分配-利润归还投资 Profit appropriation - return investment by profit利润分配-应付优先股股利 Profit appropriation - preference shares dividends利润分配-提取任意盈余公积 Profit appropriation - other surplus reserve利润分配-应付普通股股利 Profit appropriation - ordinary shares dividends利润分配-转作股本的普通股股利 Profit appropriation - ordinary shares dividends converted to shares期初未分配利润 Retained earnings, beginning of the year资本公积-股本溢价 Capital surplus - share premium资本公积-接受捐赠非现金资产准备 Capital surplus - donation reserve资本公积-接受现金捐赠 Capital surplus - cash donation资本公积-股权投资准备 Capital surplus - investment reserve资本公积-拨款转入 Capital surplus - subsidiary资本公积-外币资本折算差额 Capital surplus - foreign currency translation资本公积-其他 Capital surplus - others盈余公积-法定盈余公积金 Surplus reserve - statutory surplus reserve盈余公积-任意盈余公积金 Surplus reserve - other surplus reserve盈余公积-法定公益金 Surplus reserve - statutory welfare reserve盈余公积-储备基金 Surplus reserve - reserve fund盈余公积-企业发展基金 Surplus reserve - enterprise development fund盈余公积-利润归还投资 Surplus reserve - reture investment by investment主营业务收入 Sales主营业务成本 Cost of sales主营业务税金及附加 Sales tax营业费用 Operating expenses管理费用 General and administrative expenses财务费用 Financial expenses投资收益 Investment income其他业务收入 Other operating income营业外收入 Non-operating income补贴收入 Subsidy income其他业务支出 Other operating expenses营业外支出 Non-operating expenses所得税 Income tax直接人工成本差异（direct labor variance）直接材料成本差异（direct material variance）在产品计价（work-in-process costing）联产品成本计算（joint products costing）生产成本汇总程序（accumulation process of procluction cost）制造费用差异（manufacturing expenses variance）实际成本与估计成本（actual cost and estimated cost）工资费用分配（salary costs allocation）成本曲线（cost curve）农业生产成本（agriculture production cost）原始成本和重置成本（original cost and replacement cost）工程施工成本直接成本与间接成本（direct cost and indirect cost）可控成本（controllable cost）制造费用分配（manufacturing expenses allocation）理论成本与应用成本（theory cost and practice cost）辅助生产成本分配（auxiliary production cost allocation）期间,费用成本控制程序（procedure of cost control）成本记录（cost entry, cost recorder cost agenda）成本计算分批法（job costing method）成本计算分步法直接人工成本差异（direct labor variance）成本控制方法（cost control method）内河运输成本生产费用要素（elements of production expenses）历史成本与未来成本（historical cost and future cost）可避免成本与不可避免成本（avoidable cost and unavoidable cost）成本计算期（cost period）平均成本与个别成本（avorage cost and individual cost）跨期摊提费用分配（inter-period expenses allocation）计划成本（planned cost）数量差异（quantity variance）燃料费用分配（fuel expenses allocation）定额成本控制制度（norm cost control system）定额管理（management norm）可递延成本与不可递延成本（deferrable cost and undeferrable cost）成本控制标准（standard of cost control）副产品成本计算（by-product costing）责任成本（responsibility cost）生产损失核算（production loss accounting）生产成本（production cost）预计成本（predicted cost）成本结构（cost structure）房地产开发成本主要成本与加工成本（prime costs and processing costs）决策成本（cost of decision making）成本计算品种法（category costing method）在产品成本（work-in-process cost）工厂成本（factory cost）成本考核（cost assess ）制造费用（manufactruing expenses）动力费用分配（power expenses allocation）趋势分析法（trend analysis approach）成本计算简单法（simple costing method）责任成本层次（levels of responsibility cost）对比分析法（comparative analysis approach）约当产量比例法（equivalent units method）原始记录（original record）可比产品成本分析（general product cost analysis）成本计算方法（costing method）成本计算对象（costing objective）成本计算单位（costing unit）成本计划完成情况分析成本计划管理体系（planned management system of cost）成本计划（cost plan）成本会计（cost accounting）成本核算原则（principle of costing）成本核算程序（cost accounting qrocedures）成本核算成本（costing account）成本核算（costing）成本归集（cost accumulation）成本管理（cost management）成本分析（cost analysis）成本分配（ocst allocation）成本分类账（cost ledger）成本分类（cost classifiction）成本费用界限成本调整（cost adjustment）成本差异（cost variance）成本报告（costing report）成本（cost）车间成本（workshop cost）厂内经济核算制（internal business accounting system）厂内结算价格（internal settlement prices）产品寿命周期成本（product life cycle cost）产品成本项目（cost items of product）产品成本技术经济分析产品成本计划（the plan of product costs）产品成本（product cost）初级会计汇总原始凭证（cumulative source document）汇总记账凭证核算形式（bookkeeping procedure using summary ovchers）工作底稿（working paper）复式记账凭证（mvltiple account titles voucher）复式记账法（Double entry bookkeeping）复合分录（compound entry）划线更正法（correction by drawing a straight ling）汇总原始凭证（cumulative source document）会计凭证（accounting documents）会计科目表（chart of accounts）会计科目（account title）红字更正法（correction by using red ink）会计核算形式（bookkeeping procedures）过账（posting）会计致迹╝ccounting entry）会计循环（accounting cycle）会计账簿（Book of accounts）活页式账簿（loose-leaf book）集合分配账户（clearing accounts）计价对比账户（matching accounts）记账方法（bookkeeping methods）记账规则（recording rules）记账凭证（voucher）记账凭证核算形式（Bookkeeping proced ureusing vouchers）记账凭证汇总表核算形式（bookkeeping procedure using categorized account summary）简单分录（simple entry）结算账户（settlement accounts）结账（closing account）结账分录（closing entry）借贷记账法（debit-credit bookkeeping）通用日记账核算形式（bookkeeping procedure using general journal）外来原始凭证（source document from outside）现金日记账（cash journal）虚账户（nominal accounts）序时账簿（book of chronological entry）一次凭证（single-record document）银行存款日记账（deposit journal）永续盘存制（perpetual inventory system）原始凭证（source document）暂记账户（suspense accounts）增减记账法（increase-decrease bookkeeping）债权结算账户（accounts for settlement of claim）债权债务结算账户（accounts for settlement of claim and debt）债务结算账户（accounts for settlement of debt）账户（account）账户编号（Account number）账户对应关系（debit-credit relationship）账项调整（adjustment of account）专用记账凭证（special-purpose voucher）转回分录（reversing entry）资金来源账户（accounts of sources of funds）资产负债账户（balance sheet accounts）转账凭证（transfer voucher）资金运用账户（accounts of applications of funds）自制原始凭证（internal source document）总分类账簿（general ledger）总分类账户（general account）附加账户（adjunct accounts）付款凭证（payment voucher）分类账簿（ledger）中级会计固定资产（fixed assets）利润总额利益分配（profit distribution）应计费用（accrued expense）商标权（trademarks and tradenames）全部履行法净利润（net income）应付利润（profit payable）未分配利润收益债券（income bonds）货币资金利息资本化（capitalization of interests）公益金工程物资预付账款（advance to supplier）其他应收款（other receivables）现金（cash）预收账款公司债券发行（corporate bond floatation）应付工资（wages payable）实收资本（paid-in capital）盈余公积（surplus reserves）管理费用土地使用权股利（dividend）应交税金（taxes payable）流动资金负商誉（negative goodwill）费用的确认（recognition of expense）短期投资（temporary investment）专项资产【旧】专有技术（know-how）专营权（franchises）资本公积（capital reserves）资产负债表法资金占用和资金来源[旧]自然资源（natural resources）存货（inventory）车间经费【旧】偿债基金（sinking fund）长期应付款（long-term payables）长期投资（long-term investments）长期借款（long-term loans）长期负债（long-term liability of long-term debt）财务费用（financing expenses）拨定留存收益（appropriated retained earnings）标准成本法（standard costing）变动成本法（variable costing）比例履行法包装物版权（copyrights）高级会计期货交易市场（market of futures transaction）期货交易（futures transaction）举债经营融资租赁（leveraged lease）金融工具（financial instruments）企业集团（business qroup）年度报告（annual report）内部往来（transactions between home office and branches）合伙企业（partnership enterprise）合并资产负债表（consolidated balance sheet）合并主体的所得税会计（accounting for income taxes of consolidated entities）（美）合并现金流量表（consolidated statement of cash flow）合并价差（cost-book value differentials）合并会计报表（consolidated financial statements）购买法（purchase methed）企业整体价值（the value of an enterprise as a whole）权益结合法（pooling of interest method）期内所得税分摊（intraperiod tax allocation）（美）期末存货的未实现损益（unrealized profit in ending inventory）公司间的长期资产业务（intercompany transactions in long-term assets）名义货币保全（maintaining capital in units of money）基金论（the fund theory）功能性货币（functional currency）（美）汇兑损益（exchange gains or losses）合并财务状况变动表（consolidated statement of changes in financial poition）合并财务状况变动表（consolidated statement of换算损益（translation gains or losses）举债经营收购（Leveraged buyouts,简称LBC）（美）母公司持股比例变动（change in ownership percentage held by parent）交互分配法（reciprocal allocation approach）（美）货币项（monetary items）合伙清算（partnership liquidation全面分摊法（comprehensive allocation）固定资产投资方向调节税合并费用（expenses related to combinations）间接标价法（indirect quotation）买入汇率（buying rate）期货合约（futrues contract）混合合并（conglomeration）控投公司（holding company）股票指数期货（stock index futrues）横向销售（crosswise sale）固定汇率（fixed rate）纳税影响法（tax effect method）记账汇率（recording rate）横向合并（horizontal integration）合并前股利（preacquisition dividends）可变现净值（net realizable）企业合并会计（accounting for business combination）平仓盈亏（offset gain and loss）卖出汇率（selling rate）金融期货交易（financial futures transaction）会计利润（accounting income）合并损益表（consolidated income statement）公允价值（fair value）期权（options）间接控股（indirect holding）两笔交易观（two-transaction opinion）破产清算（bankrupcy liquidation）企业合并（business combination）企业论（the enterprise theory）商品寄销（consignment）个人所得税（personal income tax）个人财务报表（personal financial state-ments）（美）改组计划（reorganization plan）（美）改组（reorganization）复杂权益法（complex equity method）附属公司（associated company）负权人偿金（dividend）浮动汇率（floating rate）分支机构会计（accounting for branch）推定赎回损益（constructive gains and losses on bonds）推定赎回（constructive retirement）投机（spculation）贴水（discount）特定物价指数（specific price index）分支机构（branch）分期收款销货（installment sales）分次清算（installment liquidation）分部报告（segmental reporting）房地产收入（real estate revenue）房地产成本（cost of real setate）房地产（real estate）多种汇率法（multiply exchange rate）对境外实体的净投资（net investment in foreign entities）订量单位：（units of measurement）递延法（deffered method）当代理论（contemporary theory）单一汇率法（singal method）退休金（pension plan）退休金会计（accounting for pension plan）（美）退休金给付义务（pension benefit obligations）（美）外币（foreign currency）外币业务（foreign currency transaction）吸收合并（merger）物价变动会计（accounting for price changes）无偿债能力（insolvency）完全合并（full consolidation）物价指数（price index）物价变动（price changes）完全应计法（full accrual method）物价总指数（general price index）外汇期货交易（foreign exchange frtrues transaction）下推会计（push-down accounting）（美）先折算后调整法（translation-remeasurement method）现行成本/稳值货币会计（current cost/general purchasing power accountin）现行成本（crurent cost）现行成本会计（current cost accounting）先调整后折算法（remeasurement-translation method）销售代理处（sales agency）相互持股（mutual holdings）相对账户调节（reconciliation of home office and branch accounts）新合伙人入伙（admission of a new parther）向上销售（upstream sale）衍生金融工具（derivative financial instru-ments）销售式融资租赁（sales-type financing lease）向下销售（downstream sale）消费税（consumer tax）一笔交易观（one-transaction opinion）业主权论（the proprietorship theory）一般物价水准会计（general price level accounting）一般购买力单位（units of general purchasing power）招股说明书（prospectus）中间汇率（middle rate）中期报告（interim reporting）重置成本（replacement cost）转租赁（subleases）准改组（quasi-reorbganization）（美）资本保全（capital maintenance）资本化价值（capitalized value）资本因素（capital factor）资产负债法（asset/libility method）存货转让价格（inventory transfer price）创立合并（consolidation）出租人会计（accounting for leases-lessor）持有（产）损益（holding gains losses）持仓盈亏（opsition gain and loss）承租人会计（accounting for leases-leasee）成本回收法（cost recovery method）纵向合并（Vertical integration）综合变动（general change）子公司权益变动（change in ownership of a subsidiary）子公司（subsidiary company）资源税（resources tax）成本法（cost method）财产信托会计（fiduciary accounting）（美）财产税（property tax）部分分摊法（partial allocation）不合并子公司（unconsolidated subsidiaries）最低退休金负债（minimum liability）（美）租赁（leases）租金（rents）企业会计企业财务（business finance）期权市场（option market）期货市场（future market）可转让定期存单市场（negotiable CDmarket）货币市场（money market）黄金市场（gold market）国有独资公司股份有限公司（company limited by shares）股份两合公司（limited pactnership）公司（company）二级市场（security secondary market）独资企业（sole proprietorship）店头市场（over-the -counter-market）承兑市场（acceptance market）拆借市场（lending market）财务制度（financial regulations）财务政策（financial policy）财务预测（financial forecast）财务控制（financial control）金融市场（financial market）财务决策（financial decision）财务监督（financial cupervision）财务计划（financial planning）财务活动（financial activities）财务管理组织（organization of financial management）一级市场（security primary market）无限责任公司（company of unlimited liability）外汇市场（foreign exchange market）贴现市场（dixcount market）企业组织形式（forms of enterprise organization）政府会计企业财务（business finance）期权市场（option market）期货市场（future market）可转让定期存单市场（negotiable CDmarket）货币市场（money market）黄金市场（gold market）国有独资公司股份有限公司（company limited by shares）股份两合公司（limited pactnership）公司（company）二级市场（security secondary market）独资企业（sole proprietorship）店头市场（over-the -counter-market）承兑市场（acceptance market）拆借市场（lending market）财务制度（financial regulations）财务政策（financial policy）财务预测（financial forecast）财务控制（financial control）金融市场（financial market）财务决策（financial decision）财务监督（financial cupervision）财务计划（financial planning）财务活动（financial activities）财务管理组织（organization of financial management）一级市场（security primary market）无限责任公司（company of unlimited liability）外汇市场（foreign exchange market）贴现市场（dixcount market）企业组织形式（forms of enterprise organization）事业单位会计（accounting for non-profit organizations）事业单位固定资产（fixed assets for non-profit organizations）事业单位固定基金（fixed funds non-profit organizations）事业单位负债（liabilities for non-profit organizations）事业单位对外投资（outside investments for non-profit organizations）事业单位财务清算（liquidation of non-profit organization）上缴上级支出（payment to the higher authority）上级补助收入（grant from the higher authority）其他收入（miscellaneous gains）科学事业单位资产（scientific research instifutes'assets）科学事业单位支出（scientific research institutes'expenditures）科学事业单位预算（scientific research institutes'budgeting）科学事业单位收入（scientific research institutes'revenues）科学事业单位结余（scientific research institutes'surplus）科学事业单位会计制度（accointing regulations for scientific research instifutes）科学事业单位会计报表分析（scientific research institutes-analysis of accounting statements）科学事业单位会计（sicentific research institute accounting）科学事业单位成本费用管理（scientific research institutes-cost maragement）科学事业单位财务制度（financial regulations for scientific research institutes）经营支出（orerating expense ）经营收入（operating revenue）基金预算支出（fund budget expenditure）基金预算收入（fund budget revenue）基金预算结余（surplus of fund budget）国家预算（state budget）国家决算（final accounts of state revenue and expenditure）高等学校资产（colleges and universities assets）高等学校支出（colleges and universities expenditures）高等学校预算管理方式（budget management method of colleges and universities）高等学校收入（colleges and universities revenues）专用基金支出（expenditure on special purpose fund）专用基金收入（proceeds from special purpose fund）专用基金结余（surplus of special purpose funds）中华人民共和国预算法（the budget law of the people's Republic of China）资金调拨支出（expenditure on allocated and transeferred fund）财政收入（public finance-revemue）财政净资产（public finance-net assets）财政负债（public finance-liabilities）财政补助收入（grant from the state）拨入专款（restricted appropriation）。
注册会计师综合阶段考试专业术语中英文
注册会计师综合阶段考试专业术语中英文2015注册会计师综合阶段考试专业术语（中英文）商誉 Goodwill政府补助 Government grants毛利率 Gross profit ratio担保 Guarantee持有至到期投资 Held-to-maturity investment历史成本 Historical cost可辨认性 Identifiable减值损失 Impairment loss减值准备 Impairment losses利润表 Income statement所得税 Income tax间接法 Indirect method保险费 Insurance expense无形资产 Intangible assets应付利息 Interest payable利率 Interest rate应收利息 Interest receivable集团内部销售 Inter-group sales中期财务报表 Interim financial statements存货 Inventories投资活动 Investing activities投资成本 Investment cost投资收益 Investment income投资性房地产 Investment property合营企业 Joint-venture劳务成本 Labour costs土地使用权 Land use right租赁 Lease承租人 Lessee14出租人 Lessor负债 Liability/Liabilities贷款 Loan长期股权投资 Long-term equity investment 长期借款 Long-term loans长期应付款 Long-term payable长期应收款 Long-term receivables少数股东权益 Minority interests净利润 Net profits非调整事项 Non-adjusting events非流动性负债 Non-current liabilities营业外支出 Non-operating expenses营业外收入 Non-operating income经营活动 Operating activities经营租赁 Operating lease营业利润 Operating profit其他资本公积 Other capital reserve其他综合收益 Other comprehensive income 其他业务收入 Other operating income其他应付款 Other payables其他应收款 Other receivables所有者权益Owner’s equity所有权 Ownership实收资本 Paid-in capital专利权 Patent资产负债表日后事项 Post balance sheet events 溢价 Premium预付款 Prepayment现值 Present value以前年度损益事项 Prior year profit/loss adjustment商品 Product利润 Profit利润分配 Profit appropriation存货跌价准备 Provision for diminution in value of inventories 固定资产减值准备 Provision for impairment of fixed assets 损失准备 Provision for loss采购成本 Purchase costs报酬率 Rate of return原材料 Raw materials预收款项 Receipts in advance确认 Recognition/Recognize可收回金额 Recoverable amount可变现净值 Recoverable value15关联交易 Related party transactions关联方 Related party(ies)租赁收入 Rental income重置成本 Replacement costs回购 Repurchase研究开发费用 Research and development costs残值 Residual value重组 Restructuring追溯调整 Retrospective adjustments销售商品收入 Revenue from sales of goods收入 Revenue/Income职工薪酬 Salary costs售后租回交易 Sale and lease back主营业务收入 Sales from principal activities销售退回 Sales return销售额 Sales revenue销售税 Sales tax分部报告 Segment reporting销售费用 Selling expenses股本 Share capital股份期权 Share options股本/资本溢价 Share/Capital premium所有者权益Shareholders’ equity短期借款 Short-term loans专项应付款 Special payables现金流量表 Statement of cash flows法定盈余公积 Statutory surplus reserve盈余公积 Surplus reserves有形资产 Tangible assets计税基础 Tax basis应交税费 Taxes payable暂时性差异 Temporary differences交易费用 Transaction costs可理解性 Understandability未分配利润 Undistributed profit/Retained earnings 会计估计 Accounting estimates会计分期 Accounting period会计政策 Accounting policies会计确认 Accounting recognition会计处理 Accounting treatment应付账款 Accounts payable应收账款 Accounts receivable累计折旧 Accumulated depreciation调整事项 Adjusting events摊销费用 Amortization expense公平交易 Arms-length transaction资产 Assets资产减值损失 Assets impairment loss联营公司 Associates可供出售金融资产 Available-for-sale financial assets坏账准备 Bad debt provision年初余额 Balance at the beginning of year年末余额 Balance at the end of year资产负债表 Balance sheet银行存款 Bank deposit基本每股收益 Basic earnings per share应收票据 Bills receivable账面价值 Book value借款费用 Borrowing costs企业合并 Business combination营业税金及附加 Business taxes and surcharges计量 Calculation/Calculate资本公积 Capital reserve资本化 Capitalization/Capitalized现金流量 Cash flows库存现金 Cash on hand公允价值变动 Change in fair value股东权益变动表 Changes in equity可比性 Comparability混合金融工具 Compound financial instruments代销商品 Consignment goods合并资产负债表 Consolidated balance sheet12合并利润表 Consolidated income statement合并股东权益变动表Consolidated statement of changes in equity建造合同 Construction contract在建工程 Construction in progress或有资产 Contingent asset或有负债 Contingent liability可转换公司债券 Convertible notes会计差错更正 Correction of accounting errors成本法 Cost method主营业务成本 Cost of sales from principal activities 贷 Credit货币计量 Currency measurement流动资产 Current assets流动负债 Current liabilities借 Debit债务重组 Debt restructuring递延收益 Deferred income递延所得税 Deferred tax递延所得税资产 Deferred tax assets递延所得税负债 Deferred tax liabilities折旧 Depreciation稀释每股收益 Diluted earnings per share直接费用 Direct costs直接人工 Direct labour直接材料 Direct materials直接法 Direct method披露 Disclosure折现系数 Discount factor折现率 Discount rate任意盈余公积 Discretionary surplus reserve处置成本 Disposal costs应付股利 Dividend payable应收股利 Dividend receivable应付职工薪酬 Employee benefits payables股权投资 Equity investment权益法 Equity method预计负债 Estimated liabilities/Provision预计使用寿命 Estimated useful life费用 Expenses公允价值 Fair value融资租赁 Finance lease金融资产 Financial assets交易性金融资产 Financial assets held for trading 13财务费用 Financial expenses金融工具 Financial instruments金融负债 Financial liabilities财务报告 Financial reporting筹资活动 Financing activities产成品 Finished products/goods固定资产 Fixed assets固定资产清理 Fixed assets pending for disposal境外经营 Foreign operations特许权 Franchise right记账本位币 Functional currency公允价值变动收益/(损失) Gains/Losses on changes in fair value 管理费用 General and administrative expenses持续经营 Going concern【2015注册会计师综合阶段考试专业术语（中英文）】。
注册会计师专业英文词汇
专业英文词汇一、资产assets1、流动资产current assets111现金及约当现金cash and cash equivalents1111库存现金cash on hand1112零用金/周转金petty cash/revolving funds1113银行存款cash in banks1116在途现金cash in transit1117约当现金cash equivalents1118其它现金及约当现金other cash and cash equivalents112短期投资short-term investments1121短期投资-股票short-term investments-stock1122短期投资-短期票券short-term investments-short-term notes and bills1123短期投资-政府债券short-term investments-government bonds1124短期投资-受益凭证short-term investments-beneficiary certificates1125短期投资-公司债short-term investments-corporate bonds1128短期投资-其它short-term investments-other1129备抵短期投资跌价损失allowance for reduction of short-term investment to market 113应收票据notes receivable1131应收票据notes receivable1132应收票据贴现discounted notes receivable1137应收票据-关系人notes receivable-related parties1138其它应收票据other notes receivable1139备抵呆帐－应收票据allowance for uncollec-tible accounts-notes receivable 114应收帐款accounts receivable1141应收帐款accounts receivable1142应收分期帐款installment accounts receivable1147应收帐款-关系人accounts receivable-related parties1149备抵呆帐－应收帐款allowance for uncollec-tible accounts-accounts receivable 118其它应收款other receivables1181应收出售远汇款forward exchange contract receivable1182应收远汇款-外币forward exchange contract receivable-foreign currencies 1183买卖远汇折价discount on forward ex-change contract1184应收收益earned revenue receivable1185应收退税款income tax refund receivable1187其它应收款-关系人other receivables-related parties1188其它应收款-其它other receivables-other1189备抵呆帐-其它应收款allowance for uncollec-tible accounts-other receivables 121~122存货inventories1211商品存货merchandise inventory1212寄销商品consigned goods1213在途商品goods in transit1219备抵存货跌价损失allowance for reduction of inventory to marketgoods finished制成品1221．1222寄销制成品consigned finished goods1223副产品by-products1224在制品work in process1225委外加工work in process-outsourced1226原料raw materials1227物料supplies1228在途原物料materials and supplies in transit1229备抵存货跌价损失allowance for reduction of inventory to market 125预付费用prepaid expenses1251预付薪资prepaid payroll1252预付租金prepaid rents1253预付保险费prepaid insurance1254用品盘存office supplies1255预付所得税prepaid income tax1258其它预付费用other prepaid expenses126预付款项prepayments1261预付货款prepayment for purchases1268其它预付款项other prepayments128~129其它流动资产other current assets1281进项税额VAT paid（or input tax）1282留抵税额excess VAT paid（or overpaid V AT）1283暂付款temporary payments1284代付款payment on behalf of others1285员工借支advances to employees1286存出保证金refundable deposits1287受限制存款certificate of deposit-restricted1291递延所得税资产deferred income tax assets1292递延兑换损失deferred foreign exchange losses1293业主（股东）往来owners^（stockholders^）current account 1294同业往来current account with others1298其它流动资产-其它other current assets-other2、基金及长期投资funds and long-term investments131基金funds1311偿债基金redemption fund（or sinking fund）1312改良及扩充基金fund for improvement and expansion1313意外损失准备基金contingency fund1314退休基金pension fund1318其它基金other funds132长期投资long-term investments1321长期股权投资long-term equity investments1322长期债券投资long-term bond investments1323长期不动产投资long-term real estate in-vestments1324人寿保险现金解约价值cash surrender value of life insuranceinvestments term-long other其它长期投资1328．1329备抵长期投资跌价损失allowance for excess of cost over market value of long-term investments3、固定资产property,plant,and equipment141土地land1411土地land1418土地-重估增值land-revaluation increments142土地改良物land improvements1421土地改良物land improvements1428土地改良物-重估增值land improvements-revaluation increments1429累积折旧-土地改良物accumulated depreciation-land improvements143房屋及建物buildings1431房屋及建物buildings1438房屋及建物-重估增值buildings-revaluation increments1439累积折旧-房屋及建物accumulated depreciation-buildings144~146机（器）具及设备machinery and equipment1441机（器）具machinery1448机（器）具-重估增值machinery-revaluation increments1449累积折旧-机（器）具accumulated depreciation-machinery151租赁资产leased assets1511租赁资产leased assets1519累积折旧-租赁资产accumulated depreciation-leased assets152租赁权益改良leasehold improvements1521租赁权益改良leasehold improvements1529累积折旧-租赁权益改良accumulated depreciation-leasehold improvements156未完工程及预付购置设备款construction in progress and prepayments forequipment 1561未完工程construction in progress1562预付购置设备款prepayment for equipment158杂项固定资产miscellaneous property,plant,and equipment1581杂项固定资产miscellaneous property,plant,and equipment1588杂项固定资产-重估增值miscellaneous property,plant,and equipment-revaluation increments1589累积折旧-杂项固定资产accumulated depreciation-miscellaneous property,plant, and equipment16递耗资产depletable assets161递耗资产depletable assets1611天然资源natural resources1618天然资源-重估增值natural resources-revaluation increments1619累积折耗-天然资源accumulated depletion-natural resources17无形资产intangible assets171商标权trademarks1711商标权trademarks172专利权patents1721专利权patentsfranchise特许权173．1731特许权franchise174著作权copyright1741著作权copyright175计算机软件computer software1751计算机软件computer software cost176商誉goodwill1761商誉goodwill177开办费organization costs1771开办费organization costs178其它无形资产other intangibles1781递延退休金成本deferred pension costs1782租赁权益改良leasehold improvements1788其它无形资产-其它other intangible assets-other18其它资产other assets181递延资产deferred assets1811债券发行成本deferred bond issuance costs1812长期预付租金long-term prepaid rent1813长期预付保险费long-term prepaid insurance1814递延所得税资产deferred income tax assets1815预付退休金prepaid pension cost1818其它递延资产other deferred assets182闲置资产idle assets1821闲置资产idle assets184长期应收票据及款项与催收帐款long-term notes,accounts and overdue receivables 1841长期应收票据long-term notes receivable1842长期应收帐款long-term accounts receivable1843催收帐款overdue receivables1847长期应收票据及款项与催收帐款-关系人long-term notes,accounts and overdue receivables-related parties1848其它长期应收款项other long-term receivables1849备抵呆帐-长期应收票据及款项与催收帐款allowance for uncollectible accounts-long-term notes,accounts and overdue receivables185出租资产assets leased to others1851出租资产assets leased to others1858出租资产-重估增值assets leased to others-incremental value from revaluation 1859累积折旧-出租资产accumulated depreciation-assets leased to others186存出保证金refundable deposit1861存出保证金refundable deposits188杂项资产miscellaneous assets1881受限制存款certificate of deposit-restricted1888杂项资产-其它miscellaneous assets-other二、负债liabilitiesliabilities current流动负债2221~211短期借款short-term borrowings（debt）2111银行透支bank overdraft2112银行借款bank loan2114短期借款-业主short-term borrowings-owners2115短期借款-员工short-term borrowings-employees2117短期借款-关系人short-term borrowings-related parties2118短期借款-其它short-term borrowings-other212应付短期票券short-term notes and bills payable2121应付商业本票commercial paper payable2122银行承兑汇票bank acceptance2128其它应付短期票券other short-term notes and bills payable2129应付短期票券折价discount on short-term notes and bills payable213应付票据notes payable2131应付票据notes payable2137应付票据-关系人notes payable-related parties2138其它应付票据other notes payable214应付帐款accounts pay able2141应付帐款accounts payable2147应付帐款-关系人accounts payable-related parties216应付所得税income taxes payable2161应付所得税income tax payable217应付费用accrued expenses2171应付薪工accrued payroll2172应付租金accrued rent payable2173应付利息accrued interest payable2174应付营业税accrued VAT payable2175应付税捐-其它accrued taxes payable-other2178其它应付费用other accrued expenses payable218~219其它应付款other payables2181应付购入远汇款forward exchange contract payable2182应付远汇款-外币forward exchange contract payable-foreign currencies 2183买卖远汇溢价premium on forward exchange contract2184应付土地房屋款payables on land and building purchased2185应付设备款Payables on equipment2187其它应付款-关系人other payables-related parties2191应付股利dividend payable2192应付红利bonus payable2193应付董监事酬劳compensation payable to directors and supervisors 2198其它应付款-其它other payables-other226预收款项advance receipts2261预收货款sales revenue received in advance2262预收收入revenue received in advance2268其它预收款other advance receiptsportion current-liabilities term-long一年或一营业周期内到期长期负债227．2271一年或一营业周期内到期公司债corporate bonds payable-current portion2272一年或一营业周期内到期长期借款long-term loans payable-current portion2273一年或一营业周期内到期长期应付票据及款项long-term notes and accounts payable due within one year or one operating cycle2277一年或一营业周期内到期长期应付票据及款项-关系人long-term notes and accounts payables to related parties-current portion2278其它一年或一营业周期内到期长期负债other long-term lia-bilities-current portion 228~229其它流动负债other current liabilities2281销项税额VAT received（or output tax）2283暂收款temporary receipts2284代收款receipts under custody2285估计售后服务/保固负债estimated warranty liabilities2291递延所得税负债deferred income tax liabilities2292递延兑换利益deferred foreign exchange gain2293业主（股东）往来owners^current account2294同业往来current account with others2298其它流动负债-其它other current liabilities-others23长期负债long-term liabilities231应付公司债corporate bonds payable2311应付公司债corporate bonds payable2319应付公司债溢（折）价premium（discount）on corporate bonds payable232长期借款long-term loans payable2321长期银行借款long-term loans payable-bank2324长期借款-业主long-term loans payable-owners2325长期借款-员工long-term loans payable-employees2327长期借款-关系人long-term loans payable-related parties2328长期借款-其它long-term loans payable-other233长期应付票据及款项long-term notes and accounts payable2331长期应付票据long-term notes payable2332长期应付帐款long-term accounts pay-able2333长期应付租赁负债long-term capital lease liabilities2337长期应付票据及款项-关系人Long-term notes and accounts payable-related parties 2338其它长期应付款项other long-term payables234估计应付土地增值税accrued liabilities for land value increment tax2341估计应付土地增值税estimated accrued land value incremental tax pay-able235应计退休金负债accrued pension liabilities2351应计退休金负债accrued pension liabilities238其它长期负债other long-term liabilities2388其它长期负债-其它other long-term liabilities-other28其它负债other liabilities281递延负债deferred liabilities2811递延收入deferred revenue2814递延所得税负债deferred income tax liabilitiesliabilities deferred other其它递延负债2818．286存入保证金deposits received2861存入保证金guarantee deposit received288杂项负债miscellaneous liabilities2888杂项负债-其它miscellaneous liabilities-other三、业主权益owners^equity31资本capital311资本（或股本）capital3111普通股股本capital-common stock3112特别股股本capital-preferred stock3113预收股本capital collected in advance3114待分配股票股利stock dividends to be distributed3115资本capital32资本公积additional paid-in capital321股票溢价paid-in capital in excess of par3211普通股股票溢价paid-in capital in excess of par-common stock3212特别股股票溢价paid-in capital in excess of par-preferred stock323资产重估增值准备capital surplus from assets revaluation3231资产重估增值准备capital surplus from assets revaluation324处分资产溢价公积capital surplus from gain on disposal of assets3241处分资产溢价公积capital surplus from gain on disposal of assets325合并公积capital surplus from business combination3251合并公积capital surplus from business combination326受赠公积donated surplus3261受赠公积donated surplus328其它资本公积other additional paid-in capital3281权益法长期股权投资资本公积additional paid-in capital from investee under equity method3282资本公积-库藏股票交易additional paid-in capital-treasury stock trans-actions 33保留盈余（或累积亏损）retained earnings（accumulated deficit）331法定盈余公积legal reserve3311法定盈余公积legal reserve332特别盈余公积special reserve3321意外损失准备contingency reserve3322改良扩充准备improvement and expansion reserve3323偿债准备special reserve for redemption of liabilities3328其它特别盈余公积other special reserve（or accumulatedearningsretained-335unappropriated未分配盈余（或累积亏损）deficit）3351累积盈亏accumulated profit or loss3352前期损益调整prior period adjustments3353本期损益net income or loss for current period34权益调整equity adjustmentsterm-long of decline value market on loss unrealized长期股权投资未实现跌价损失341．equity investments3411长期股权投资未实现跌价损失unrealized loss on market value decline of long-term equity investments342累积换算调整数cumulative translation adjustment3421累积换算调整数cumulative translation adjustments343未认列为退休金成本之净损失net loss not recognized as pension cost3431未认列为退休金成本之净损失net loss not recognized as pension costs35库藏股treasury stock351库藏股treasury stock3511库藏股treasury stock36少数股权minority interest361少数股权minority interest3611少数股权minority interest四、损益类4营业收入operating revenue41销货收入sales revenue411销货收入sales revenue4111销货收入sales revenue4112分期付款销货收入installment sales revenue417销货退回sales return4171销货退回sales return419销货折让sales allowances4191销货折让sales discounts and allowances46劳务收入service revenue461劳务收入service revenue4611劳务收入service revenue47业务收入agency revenue471业务收入agency revenue4711业务收入agency revenue48其它营业收入other operating revenue488其它营业收入-其它other operating revenue4888其它营业收入-其它other operating revenue-other5营业成本operating costs51销货成本cost of goods sold511销货成本cost of goods sold5111销货成本cost of goods sold5112分期付款销货成本installment cost of goods sold512进货purchases5121进货purchases5122进货费用purchase expenses5123进货退出purchase returns5124进货折让charges on purchased merchandise513进料materials purchasedpurchased material进料5131．5132进料费用charges on purchased material5133进料退出material purchase returns5134进料折让material purchase allowances514直接人工direct labor5141直接人工direct labor515~518制造费用manufacturing overhead5151间接人工indirect labor5152租金支出rent expense,rent5153文具用品office supplies（expense）5154旅费travelling expense,travel5155运费shipping expenses,freight5156邮电费postage（expenses）5157修缮费repair（s）and maintenance（expense）5158包装费packing expenses5161水电瓦斯费utilities（expense）5162保险费insurance（expense）5163加工费manufacturing overhead-outsourced5166税捐taxes5168折旧depreciation expense5169各项耗竭及摊提various amortization5172伙食费meal（expenses）5173职工福利employee benefits/welfare5176训练费training（expense）5177间接材料indirect materials5188其它制造费用other manufacturing expenses56劳务成本制ervice costs561劳务成本service costs5611劳务成本service costs56劳务成本制ervice costs561劳务成本service costs5611劳务成本service costs57业务成本gency costs571业务成本agency costs5711业务成本agency costs58其它营业成本other operating costs588其它营业成本-其它other operating costs-other 5888其它营业成本-其它other operating costs-other6营业费用operating expenses61推销费用selling expenses615~618推销费用selling expenses6151薪资支出payroll expense6152租金支出rent expense,rent6153文具用品office supplies（expense）travel expense,travelling旅费6154．6155运费shipping expenses,freight6156邮电费postage（expenses）6157修缮费repair（s）and maintenance（expense）6159广告费advertisement expense,advertisement6161水电瓦斯费utilities（expense）6162保险费insurance（expense）6164交际费entertainment（expense）6165捐赠donation（expense）6166税捐taxes6167呆帐损失loss on uncollectible accounts6168折旧depreciation expense6169各项耗竭及摊提various amortization6172伙食费meal（expenses）6173职工福利employee benefits/welfare6175佣金支出commission（expense）6176训练费training（expense）6188其它推销费用other selling expenses62管理及总务费用general&administrative expenses625~628管理及总务费用general&administrative expenses6251薪资支出payroll expense6252租金支出rent expense,rent6253文具用品office supplies6254旅费travelling expense,travel6255运费shipping expenses,freight6256邮电费postage（expenses）6257修缮费repair（s）and maintenance（expense）6259广告费advertisement expense,advertisement6261水电瓦斯费utilities（expense）6262保险费insurance（expense）6264交际费entertainment（expense）6265捐赠donation（expense）6266税捐taxes6267呆帐损失loss on uncollectible accounts6268折旧depreciation expense6269各项耗竭及摊提various amortization6271外销损失loss on export sales6272伙食费meal（expenses）6273职工福利employee benefits/welfare6274研究发展费用research and development expense6275佣金支出commission（expense）6276训练费training（expense）6278劳务费professional service fees6288其它管理及总务费用other general and administrative expensesexpenses development and research研究发展费用63．635~638研究发展费用research and development expenses6351薪资支出payroll expense6352租金支出rent expense,rent6353文具用品office supplies6354旅费travelling expense,travel6355运费shipping expenses,freight6356邮电费postage（expenses）6357修缮费repair（s）and maintenance（expense）6361水电瓦斯费utilities（expense）6362保险费insurance（expense）6364交际费entertainment（expense）6366税捐taxes6368折旧depreciation expense6369各项耗竭及摊提various amortization6372伙食费meal（expenses）6373职工福利employee benefits/welfare6376训练费training（expense）6378其它研究发展费用other research and development expenses7营业外收入及费用non-operating revenue and expenses,other income（expense）71~74营业外收入non-operating revenue711利息收入interest revenue7111利息收入interest revenue/income712投资收益investment income7121权益法认列之投资收益investment income recognized under equity method 7122股利收入dividends income7123短期投资市价回升利益gain on market price recovery of short-term investment 713兑换利益foreign exchange gain7131兑换利益foreign exchange gain714处分投资收益gain on disposal of investments7141处分投资收益gain on disposal of investments715处分资产溢价收入gain on disposal of assets7151处分资产溢价收入gain on disposal of assets748其它营业外收入other non-operating revenue7481捐赠收入donation income7482租金收入rent revenue/income7483佣金收入commission revenue/income7484出售下脚及废料收入revenue from sale of scraps7485存货盘盈gain on physical inventory7486存货跌价回升利益gain from price recovery of inventory7487坏帐转回利益gain on reversal of bad debts7488其它营业外收入-其它other non-operating revenue-other items75~78营业外费用non-operating expenses751利息费用interest expenseexpense interest利息费用7511．752投资损失investment loss7521权益法认列之投资损失investment loss recog-nized under equity method7523短期投资未实现跌价损失unrealized loss on reduction of short-term investments to market753兑换损失foreign exchange loss7531兑换损失foreign exchange loss754处分投资损失loss on disposal of investments7541处分投资损失loss on disposal of investments755处分资产损失loss on disposal of assets7551处分资产损失loss on disposal of assets788其它营业外费用other non-operating expenses7881停工损失loss on work stoppages7882灾害损失casualty loss7885存货盘损loss on physical inventory7886存货跌价及呆滞损失loss for market price decline and obsolete and slow-moving inventories7888其它营业外费用-其它other non-operating expenses-other8所得税费用（或利益）income tax expense（or benefit）81所得税费用（或利益）income tax expense（or benefit）811所得税费用（或利益）income tax expense（or benefit）8111所得税费用（或利益）income tax expense（or benefit）9非经常营业损益nonrecurring gain or loss91停业部门损益gain（loss）from discontinued operations911停业部门损益-停业前营业损益income（loss）from operations of discontinued segments9111停业部门损益-停业前营业损益income（loss）from operations of discontinued segment912停业部门损益-处分损益gain（loss）from disposal of discontinued segments 9121停业部门损益-处分损益gain（loss）from disposal of discontinued segment92非常损益extraordinary gain or loss921非常损益extraordinary gain or loss9211非常损益extraordinary gain or loss93会计原则变动累积影响数cumulative effect of changes in accounting principles931会计原则变动累积影响数cumulative effect of changes in accounting principles 9311会计原则变动累积影响数cumulative effect of changes in accounting principles94少数股权净利minority interest income941少数股权净利minority interest incomeincome interest minority少数股权净利9411．。
英语单词-注会综合
英文中文structure构成，结构conclude 结束，推断，得出结论informed掌握信息的weighing衡量entitle有权，有资格entities实体，独立体create创造，产生direct/indirect直接；间接self-interest自身利益immediate主要的，立即的temporary暂时的，临时的assignment任务，分配，委派serve (为)服务，任职，提供recently最近employer 雇主，老板，雇佣者employee雇员，员工specific具体的，特定的director主管，董事，导演association 协会，联合，友谊，关联constradiction矛盾，对立，否认inconsistent矛盾的，不一致的acceptable可接受的assess评估precondition前提preparation准备necessary必要的satisfactory令人满意的contronllabel可控制的skepticism怀疑attitude态度ethical道德的combin联合，结合approach 方法，接近，着手处理substantive 实质的，本质的，真实的procedure程序，过程emphasize强调，着重sufficient充分的，足够的adequate充分的，足够的appropriate 适当的，占用，拨出relevant相关的relevance相关，相关性reliable可靠的reliability可靠性，可靠程度available 可得到的，可利用的potential潜在的appoint任命，委派，约定aggregate合计，总计ommission省略，遗漏，疏忽individually分别地，各自的influence影响conduct 控制，组织，安排，实施，执行equivalent 相等的，等效的，等价的prevailing主要的，普遍的existence存在allocation分配，representation表现，陈述verify核实，证明，判定intend意欲，计划material重要的occurrence发生completeness完整性accuracy准确性cut-off截止presentation列报disclosure披露reliable可靠的precise准确的、清晰的feasible可行的convert转变、兑换、换算strategy策略、战略explicit 明确的，清楚的，直率的implicit暗示的，含蓄的embody表现，象征，包含otherwise 否则，别的，不同的population总体sample样本random随机的，偶然的haphazard随意的，任意的tolerable可忍受的stratification分层materiality重要性external外部的，外面的acknowledge承认，认可responsibility责任，职责respect 尊重，遵守，某方面establish建立confidential保密的，秘密的justify证明……是正当的permanent永久的，持久的documentation 记录，事实的证据，参考资料assist 帮助，援助，参加，出席identify识别，确定inspection检查tangible 确实的，真实的，有形资产inquiry询问regard关注，注意，问候litigation诉讼claim索取，索赔plausible貎似有理的involvement参与，牵连suitable适当的depreciate贬值，跌价，轻视environment环境absolute完全的，绝对的draw 拖，拉，吸引，拨出base基于，根据persuasive有说服力的conclusive 令人信服的，确凿的objective目标positive积极的negative 消极的,否认的，负的confirmation函证，确认，证实accountability负责complilation编辑，汇编property财产stewardship 管理工作，代理工作，管理责任deficiency 缺乏，不足，缺陷，缺点exemption豁免，免除，免税fraud 欺诈，骗子，冒牌货enhance提高，增加，加强evaluate评价implementation成就，贯彻segregation分离，隔离monitor 监督，监控，记录，显示屏，屏幕bias偏向respond回应，响应indication指示，象征，表明impartial公平的，公正的particular特别的，特色amount数量，总额，总计likelihood可能性，可能authority授权，权限，职权authorize授权，批准board董事会，船上minutes 会议记录，备忘录，笔记significant 重要的，有意义的，标志expenditure花费，支出，经费purchase采购，购买authentication 认证，鉴定，证明，身价验证predict预测，预知predictability 可预测性，可预见性predictable 可预见的，可预测的narrative故事，叙述questionnaire调查表，问卷flowchart流程图checklist清单，检查表implication暗示，含义susceptible易受影响的overstatement多计，虚增，夸大understatement少报，保守的陈述abonormal异常的subjectivity主观measurement量度，份量，尺寸uncertainty不确定，不可靠therefore因此confirm确认，确定requisition请购，请购单procurement采购，获得inventory 存货清单，清查，财产目录obsolete淘汰，过时的obsolescence过时，陈旧dispatch分派，派遣reimburse清偿，偿还，赔偿reimbursement清偿，偿还，赔偿remit汇款remittance汇款perpetual永久的，不断的context背景，环境manifest 明显的，显示，表明attempt试图，尝试overstate夸大，夸张liquidity流动性，流动资产sequence顺序permission允许，批准grant 同意，承认，授予，拨款netotiable 可协商的，可商量的securities 要流通证券，有价证券reconciliation 一致，和解，和谐，服从explanation解释correspond符合，一致，相应coherence一致，连贯性initial最初的，开始的fund基金，储备，现款subsidiary附带的，次要的ledger分类账adjustment调解，调整spreadsheet电子数据表supervision监督，管理review 复核，复习，复查，评论previously事先，以前shareholder股东correspondence通信，信件，函件instance例子，情况，建议non-compliance不遵守，违法license 许可证，同意，特许regulatory监管的，调整的error错误opportunity机会perpetrate犯(罪)，做(恶) fraudulent欺诈的，欺骗的collusion合谋，共谋，勾结conceal隐瞒，隐藏accompany陪同，附加，补充override凌驾manipulate操作，处理，操纵similar类似的misappropriation侵占，挪用，滥用intentional国际的，国家的motive动机rationalization合理化assumption假设，假想，承担assume假设，承担certain某些，确定的modification修正，修改，变更prepare编制，准备produce出具，生产modify修改，改变qualify 限定，达标，合格，修饰disclaimer否认声明，放弃pervasive广泛的pervasiveness广泛，广泛性aware知道的，意识到的issue发布，发行，问题proper适当的restate重述revision修改，修订communicate交流，沟通apparent显然的，易见的withdraw撤销，撤退，提款recall召回，撤销，取消gravity严重，严肃，重力prohibit禁止practical 实际的，可行的，可用的,可实现的warehouse仓库，存入仓库independent自主的，独立的execution实行，执行，完成re-perform重新执行describe描述explain解释，说明reconcile调节，使一致examine检查，检测scrutinize 仔细检查，彻底检查calculate计算restrict限制trace追溯，痕迹，踪迹observe观察，遵守obsevation观察，遵守investigate调查，研究vouch审核，核定ascertain确定，查明supervise监督，指导approve批准，同意organisation组织，机构practice练习，实行，惯例amortization摊销，分期偿还commence开始，着手fundamental基本的，重要的compare比较，比拟，构成improve改进，改善，提高numerical数字的，数值的wealth财富moral道德的hazard冒险，危险，机会ethic道德，伦理equity公平，股票的derivative 衍生的，导出的，拷贝的derivatives金融衍生工具pension养老金，退休金investor投资者，出资人stakeholder利益相关方solvency偿付能力、溶解力conservative保守的proficiency熟练，精通assertion认定effect 影响，效果，印象，引起，产生discount折扣，折现，贴现perpetuity 永续年金，不可兑换的公司债券variance方差portfolio 文件夹，公文包，组合correlation相关性covariance协方差bond债券convertible可变换的coupon优惠券，息票constant持续的，永恒的performance履行，表现，演出situation情况，位置，形势option期权，选择，选项outflow流出inflow流入budget 预算，低价的，便宜的replacement更新，替代，归还advantage有利于，促进premium 保险费用，费用，奖励，期权金expand扩张，扩展abandon放弃，丢弃，终止convey传达、传递、运送residual残留的，剩余underwrite承购包销warrants认股权证mandatory强制的，命令的moderate 稳健的，温和的，中等的constrictive压缩的，紧缩的speculative投机的，推理的precautionary预防的，小心的accelerate加快，加速payables应付账款prepayment预付账款character品质capacity能力capital资本collateral抵押condition条件successive连续的，继承的aggressive 侵略的，有进取心的compensate补偿，弥补，报酬labor劳动，人工overhead 上面的，经常的，管理的，管理费用absorption吸收，合并，专注marginal 边缘的，临界的，最低限度的apportion分摊，分配attainable 可到达的，可得到的precision准确性、准确的beneficial有利的，有益的innovation创新vision愿景pattern模式perspective观念comprise 包括，包含，由……组成macro宏观的，巨大的growth成长期decline衰退期，减少substitute代替，替换competition比赛，竞争rivalry竞争，对抗，竞赛barrier障碍，栅栏introduction 起步期，介绍，引言exert发挥，运用scale规模，测量，衡量subsidy补贴，津贴know-how专有技术patent专利权，专利的differentiation差异化，区别brand品牌loyalty忠诚度switch转换dominant支配的，统治的unique唯一的，独特的intensity强度，紧张existing现有的，目前的strategic战略的，重要的rare 罕见的，特殊的，优秀的primary 主要的，首要的，原始的，基本的secondary中等的，辅助的inbound 回境的，到达的，进货outbound开往外地的，发货logistic后勤，物流，逻辑infrastucture基础设施benchmarking 基准分析，标杆管理integrative整体的，综合的horizontal水平的，平层的vertical垂直的，竖立的stability稳定、坚定defense防卫retrenchment节省，删除turnaround转变，加油divestiture脱去，剥夺liquidation清算,清偿，结算penetration渗透，穿透diversification多样化，变化takeover收购，接管acquisition收购，购买merger吸收合并consolidation新设合并conglomerate合成物、组合物consequent顺向的，必然的alliance联盟venture冒险franchise特许经营preliminary初步的，初级的wholesaler批发商retail零售synergy协同，协同作用feasibility可行性scenario情景centralization集权型decentralization分权型hierarchy层级，等级制度subordinate 下级，从属的，次要的entrepreneurial创业的division部门，分开，除法geographical区域的，地理的segmentation分割，分节matirx矩阵，模型，子宫multinational跨国的，多国的static静态的dynamic动态的complex复杂的machine机器mechanical机械的promotion 促销,促进，提升，升级，发起设立place地点organic 组织的，有机的，根本的discrimination歧视，辨别，区别recruit招聘preventive防止，预防的appraisal评价，鉴定occasional偶然的，临时的critical危险的，批评的predictive预言性的forgo放弃harvest收获divest剥夺substantial 大量的，重大的，本质defect缺点，欠缺，毛病mitigation缓释translate翻译，解释，转化parity平价，平等，同等swap掉期，互换bilateral双边的，双向的multilateral多边的elapse逾期，时间流逝bankrupt破产spin-out分析，衍生公司privatization私有化divestment剥夺，夺取，脱去exception例外，反对，除外derive源于，来自，得到executive 总经理，行政部门，执行的，管理的outsource外包facilities工具，天资progress前进，进步，发展raw生的，未加工的conversion变换，转变merchandize商品affiliate 使紧密联系，加入，与……有关individual 个别的，分别的,个人的，独特的，个人，个体respective个别的，分别的matual相互的，共同的cumulative累积的contribution贡献，捐赠distribution分配，分布contingency或有事项probable很可能possible可能remote极小可能boot补价ancillary 辅助的，补充的，助手retrospective可追溯的prospective未来的，预期的morality道德infringe侵犯，侵害formality手续，礼节representative 代表，议员，典型的prescribe规定,指定succeed继承，接替senior较训的，上级branch分公司civil 民间的，文明的，市民的several 专有的，独占的，各自的supervisor监督者,监事convention2 convene召集，集合assembly集会，集合affirmative 肯定的，积极的，乐观的vocational职业的evade逃避，避开，规避abuse滥用，侮辱status地位，情形，状态juridical司法的，裁判的resolution决议,决心，解决convoke召集，集合revoke撤回，取消，废除initiate开始，发起，传授quorum法定人数void无效的collective 集体的，共同的，集团affix署名signature签名，署名intellectual智力的，知识分子breach违反，破坏，缺口verification证明，证实institution机构，制度，惯例entrust委托，交托，信托preemptive有先买权的adopt采取，收养adapt 适应于，改写，改变waive放弃consecutive连续的dissolution解散raise 募集，上升，提出，提高inherit继承initiator发起人prospectus招股说明书pecuniary金钱的counterfoil存根，票据preserve保存attorney代理人，律师secretary秘书endorsement背书stipulate约定，规定offence犯罪，过错，违反penalty惩罚，刑罚corruption贪污，腐败bribery贿赂encroachment侵占，侵入fidelity忠诚，尽责corporate 公司的，法人的，团体的acceptance接收，承诺，承兑survive幸存，活下来deregister撤销登记plead请求，恳求draw提取admonish警告，告诫confiscate没收，充公sanction处罚，制裁，批准liable 有责任的,有义务的clamp强加，压制，夹子constitute构成，组成，设立relinquish放弃，放手，废除integrity诚实，正直creditworthy信用，有信誉的utilize利用，使用organ机构，元件inducement诱导，劝诱，动机recommendation推荐，建议persist坚持，继续存在surpass超越，胜过，优于tenure 任期，占有，土地使用权，授予……终身职位proxy 代理人，代理权，委托书exclusive 单独的，专用的，高级的residing居住，定居，属于underwriting包销，保险业canvass 游说，劝诱，讨论，彻底检查principal 主要的，资本的，本金的，首长，负责人,委托人，当事人participant参与者，参加的suspend暂停terminate终止deficit损失divulge泄露，暴露functionary 公务员，官员，职务上的discard抛弃，丢弃mortgage抵押damage损害，毁坏collaborate合作，协作pursuant依照的，追踪的affect影响，情感，感动fabricate伪造disseminate宣传，散布，传播inveigle诱骗，诱使tender提出，投标overstep逾越，超出dissolve解散，分散，溶解conclude达成，结论，结束council理事会disqualify取消……的资格irregularity不规则，非正式disciplinary纪律的，惩罚的conduct 组织，引导，安排，指挥，执行brokerage 经纪业，手续费，佣金interfere干涉，妨碍insolvent破产的，破产者bidding出价，投标practitioner从业者trusteeship托管disturb妨碍，打扰，烦扰injure损害，毁坏，伤害rectification重整take-over接管，接收cancellation撤销custody 监管，拘留，抚养权，监护权malfunction故障，失灵recourse追索权mediate调解obstruct阻碍，妨碍suspect怀疑，嫌疑犯instigate指使，唆使，教唆undertake从事，承担，同意bankruptcy破产community 团体，共同体，社区declaration宣告，公告，声明compromise和解conciliation和解，调解，调停hearing审讯，审理respondent被告，被申请人ground根据，理由，原因demurral导言，反对legitimate合法的，合理的appeal上诉rescind解除，废除，撤回rescission取消，废除perform 履行，执行，完成，表演，扮演notify通知，布告preservation 保护，保存，保留，维护，保持arbitration仲裁supreme最高的intermediary中间的，中介agency机构，代理assume 假定，取得，担任，承担deprive剥夺，夺去qualification资格，条件，授权certificate文凭，证明书quit 离开，辞职，放弃，停止resignation辞职，顺从，听从justifiable正当的embezzle盗用。
注会英语词汇
1词汇篇1.1 公司战略与风险管理高频词汇Strategy Customer Communicati onManage Structure Objective Cost Analysis leadership Operation Market Performance Risk Growth Develop Invest Business Diversify Control Product CompeteBudget Corporate Organizatio nInternational Industry Integrate ● Strategy n 战略、策略√词性： strategicadj 战略上的、战略的√ 词组：AbandonStrategy 放弃战略AnalyticalStrategy 分析型战略Blue Ocean strategy 蓝海战略Business （ Competitive ）strategy 业务单位战略（竞争战略）Focus strategy 集中化战略Focusedstrategy 紧缩与集中战略contraction strategy 收缩战略Change management instrategy 战略变革Corporatestrategy 总体战略Cost leadershipstrategy 成本领先战略Defensivestrategy 防御型战略Differentiationstrategy 差异化战略Development of risk management strategy 制定风险管理策略Development strategy 发展战略Diversified strategy 多种经营战略Strategicalliances 企业战略联盟Strategicanalysis 战略分析Strategic controlsystem 战略控制系统 / 体系√ 例句：Trade discounts may be used as a competitive strategy to secure customer loyalty. 商业折扣可以用作维护顾客忠诚度的一种竞争策略。
财务管理专业英语词汇表(很全面)
Chapter 1 An Overview of Financial Management business 企业，商业，业务finance 财务，理财management 管理，管理层revenue 收入return 回报shareholder 股东stakeholder 利益相关者stock 股票profit maximization 利润最大化shareholder wealth maximization 股东财富最大化enterprise value maximization 企业价值最大化hedge risks 规避风险inventory 存货current assets 流动资产current liabilities 流动负债financing 筹资corporation 股份公司earning per share（EPS）每股收益exchange rate 汇率inflation 通货膨胀contractual relations 契约关系- equity 所有者权益dividend 股利CFO（Chief Financial Officer）首席财务官，财务总监Chapter 2 The Time Value of Moneyaccrued 增值的，应计的annuity 普通年金annuity factor 年金系数compound interest 复利discounting 贴现future value 终值geometric series 等比数列mortgage 抵押ordinary annuity 普通年金perpetuity 永续年金present value 现值principal 本金reinvest 再投资simple interest 单利time value of money 货币时间价值compounding 复利计算Chapter 3 Risk and Reward- capital asset pricing model（CAPM）资本资产定价模型diversification 分散化efficient capital market 有效资本市场expected return 期望回报market, systematic, or undiversifiable risk 市场风险、系统风险或不可分散风险portfolio 组合reward 收益，溢酬，溢价risk-aversion 风险厌恶risk-neutrality 风险中性risk preference 风险偏好risk premium 风险溢价security markets line（SML）证券市场线semi-strong capital market efficiency 半强式资本市场有效spread out 分散square root 平方根standard deviation 标准差strong capital market efficiency 强式资本市场有效transaction cost 交易成本unique, firm-specific, idiosyncratic, unsystematic, or diversifiable risk 特殊风险、特有风险、虚假风险、非系统风险或可分散风险- variance 方差volatility 波动性weak capital market efficiency 弱式资本市场有效Chapter 4 Financial Assets and Their Valuationasset 资产security 证券issue （股票，钞票）分发，发行coupon rate 票面利率，息面利率annual 每年的，年度的，一年一次的obligate 使（某人）负有责任或义务outstanding 未解决的，未偿付的，杰出的calculate 估计，预测compensation 报酬，工资，补偿物perpetual 永久的，永恒的infinite 无限的，无穷的substitute 替代，取代yield 出产，产，出（果实、利润、结果）approximation 相似，近似trial-and-error 试误法illustrate 说明，阐明entitle 使人有权拥有……liability 负债- intrinsic value 内在价值asymmetry 不对称constant 不变的，可靠的phase 阶段，时期preferred stock 优先股Chapter 5 Capital Budgeting and Investment Decisioncapital budgeting 资本预算estimating net present value 预期净现值the average accounting return 平均会计报酬率stand-alone principle 独立原则the internal rate of return 内部收益率the payback rule 回收期法erosion 侵蚀net working capital 净营运资本opportunity cost 机会成本hard rationing 硬约束soft rationing 软约束sunk cost 沉没成本incremental cash flow 增量现金流量pro forma financial statement 预估财务报表forecasting risk 预测风险scenario analysis 情景分析- investment criteria 投资决策标准cash flow 现金流量project cash flow 项目现金流量depreciation 折旧capital spending 资本性支出garbage-in garbage-out system 垃圾进、垃圾出系统best case and worst case 最优情形和最差情形Chapter 6 Working Capital Managementworking capital 营运资本speculative 投机precautionary 预防的buffer 缓冲器invoice 发票deposit 存款disbursement 支付expenditure 消费trade-off 权衡attorney 代理人applicant 申请人utilization 应用dampen 使沮丧ordering cost 订货成本- carrying cost 储存成本raw material 原材料insurance 保险linear 线性的bad-debt 坏账Chapter 7 Financing Mod esdebt financing 债务筹资equity financing 权益投资prospectus 招股说明书the general cash offer 普通现金发行the rights offer 配股发行initial public offering(IPO) 首次公开发行underwriting discount 承销折价the subscription price 认购价格collateral 抵押品mortgage securities 抵押债券debenture 信用债券sinking fund 偿债基金call provision 赎回条款call-protected 赎回保护operating leases 经营性租赁financial leases 融资租赁- sale and lease-back 售后租回leveraged leases 杠杆租赁warrants 认股权证convertibles 可转换债券call options 看涨期权straight bond value 纯粹债券价值conversion value 转换价值secured loans 抵押贷款committed lines of credit 承诺式信贷额度compensating balances 补偿性余额trust receipt 信托收据Chapter 8 Capital Structurecapital structure 资本结构optimal capital structure 最佳资本结构financial leverage 财务杠杆homemade leverage 自制杠杆payoff 回报proceeds 收益financial risk 财务风险interest tax shield 利息税盾direct bankruptcy costs 直接破产成本indirect bankruptcy costs 间接破产成本liquidation 清偿reorganization 重组absolute priority rule 绝对优先原则qualification 限定条件cost of equity 股权成本business risk 经营风险pie model 饼状模型break-even point 收益均衡点indifference point 无差异点Chapter 9 Divid end Distribution dividend irrelevance theory 股利无关理论retained earnings 留存收益capital surplus 资本公积earned surplus 盈余公积legal surplus 法定盈余公积free surplus reserves 任意盈余公积stockholder meeting 股东会declaration date 宣告日holder-of-record date 股权登记日ex-dividend date 除息日stock split 股票分割stock dividend 股票股利stock repurchase 股票回购declaration date 股利宣布日record date 股权登记日regular dividend 正常股利cash dividend 现金股利stock dividend 股票股利stock price appreciation 股价增值open market 公开市场payment date 股利支付日going concern 持续经营。
cpa财管英语
Part I LiquidityLiquidity ratios measure the company‘s ability to meet its short-term obligations.Liquidity 流动性;短期偿债能力Obligation 义务Liability 债务Working capital （营运资本）Current asset （流动资产）Current liability （流动负债）Working capital = current asset – current liabilityCurrent ratio（流动比率）Quick ratio/Acid test ratio（速动比率（酸性测试比率））Current ratio = current assets/ current liabilitiesQuick ratio/Acid test ratio = （current assets – inventories）/ current liabilitiesCash ratio（现金比率）Cash ratio = （cash + marketable financial assets）/ current liabilitiesPart II SolvencySolvency ratios measure a company‘s ability to meet long-term obligations. Subsets of these ratios are also known as ―leverage‖ and ―long-term debt‖ ratios.Total debt to total assets, also called debt ratio（资产负债率）= total liabilities / total assetsDebt-to-equity ratio（产权比率）=total liabilities/ total equityEquity multiplier（权益乘数）= total assets/total equityLong-term debt ratio（长期资本负债率）=long-term debt/（long-term debt+total equity）interest coverage ratio（利息保障倍数）=Cash flow coverage ratio（现金流量利息保障倍数）=Net cash flow from operating activitiescash flow to liability=operating cash flows/total liabilitiesPart III Asset Management Ratios（资产管理比率）A/R turnover ratio = net credit sales/average accounts receivable（应收账款周转率:次数）Receivables collection period = 365/ account receivable turnover ratio（应收账款周转率:天数）Inventory turnover ratio = cost of goods sold/average inventoryInventory processing period = 365/inventory turnover ratioAccounts payable turnover ratio = cost of goods sold/average accounts payableAccounts payable payment period = 365/accounts payable turnover ratio现金流转周期Cash conversion cycle = receivables collection period + inventory processingperiod – accounts payable payment periodFixed assetsNon-current assetsBalance sheet （Statement of Financial Position）Non-current asset turnover ratio = net sales/average net non-current assets（非流动资产周转次数）Total asset turnover ratio = net sales/average total assets（总资产周转次数）Part IV Profitability ratios（盈利能力比率）Profitability ratios measure the company‘s ability to generate profitable sales from is resources （assets）.Gross profit margin = gross profit / net sales（毛利率）Operating profit margin =（营业利润率）Net profit margin =（销售净利润率）Total return on assets =（资产合计报酬率）Return on equity =（权益净利率）Return on common equity =（普通权益报酬率）Part V DuPont Analysis of ROEAnalysts often examine return on equity more carefully by breaking it down into other ratios using a traditional DuPont analysis framework:Return on equity = Profit margin × Total asset turnover × Equity multiplierReturn on equity = （net income/sales）×（sales/average total assets）×（total assets/equity）权益净利率=净利润/销售收入×销售收入/总资产×总资产/股东权益=销售净利率×总资产周转率×权益乘数By separating ROE into these three components, an analyst can determine whether changes in a firm‘s ROE are attributable to changes in the level of earningsgenerated from sales, the sales generated from total assets, or the equity multiplier （leverage factor）employed in the financing of the firm assets.GlossaryFinancial ratio财务比率Restrictive covenants限制性条款Bond indenture债券契约Financial analyst财务分析师Liquidity ratio流动性比率Current ratio流动比率Last-in, first-out （LIFO）后进先出First-in, first-out （FIFO）先进先出Window dressing账面粉饰（原本是基金管理人的一种做法,即在季末售出亏损股票,使其投资组合整个季度的回报率不至于被这些不良资产所拖累Leverage ratios 杠杆比率Operating profit margin 经营利润Net profit margin 经利润Return on asset 资产收益率Return on common equity 普通权益报酬率P/E ratio 市盈率Dividend yield 股利收益率Dividend payout 股利支付率评论：gkzh0218 发表时间：2009-6-16 19:10:18Part I Time value of money（货币的时间价值）Simple Interest单利Interest rate/Rate of Interest利率A sum of money invested or borrowed is known as the principal.When money is invested, it earns interest; similarly when money is borrowed, interest is payable.With compound interest（复利）, the interest is added each year to the principal. The next year the interest is calculated on the combined sum.A future value（终值）calculates how much a sum invested now would be worth at a future date.Present value（现值）A present value of an investment can be described as the amount of money （a lump sum:一次付的款额,一次付清）that you would have to invest now for n time periods, earning interest at r per time period, to build up the value of your investment to $F at the end of that time.Annuity（年金）An annuity is a regular payment of the same amount each year.Generally, annuities are classified into four categories:Ordinary annuity（普通年金）Annuity due（预付年金）Deferred annuity（递延年金）Perpetuity（永续年金）It is essential to note that this formula for the future value of an annuity is calculated on the assumption that the first annuity is invested at the end of the first time period, and the last annuityis invested at the very end of the final time period.Annual percentage rate （APR）（年度百分率）It is common practice in the investment ‗industry‘ to quote interest r ates as an annual percentage. For example, a bank might offer interest of 8% per annum on a savings scheme, with interest payable every six months. What this means is that the bank will pay 4% interest every six months. This isn‘t an interest rate of 8% pe r annum. The annual interest rate is actually: （1.04）2-1=0.0816 or 8.16%The ‗real‘ rate of interest is referred to as the annual or annualized percentage rate or APR.There are usually two rates quoted by financial institutions:Nominal rateAnnual percentage rateDiscounting（折现计算）a cash flow takes account of the time value of money by bringing future cash flows back to what they are worth now （their present value）.The time value of money is the preference for receiving the same sum of money sooner rather than later, or paying the same sum of money later rather than sooner.Discounted cash flow （DCF）techniques（折现现金流量估价）Net present value （NPV）（净现值）Internal rate of return （IRR）（内部回报率）DCF calculations are analogous（类似的, 相似的, 可比拟的）to compound interest in reverse（次序颠倒地, 方向相反地）.Terminal value（终值）Present value factor table（现值系数表）Perpetuity （pl. perpetuities）Real rate, nominal rate and inflation（实际利率、名义利率和通货膨胀）Mortgage抵押Opportunity cost机会成本Cost of capital资本成本Going concern value持续经营价值Liquidation value清算价值Book value账面价值Market value市值Intrinsic value内在价值V aluation approach估价方法Undervaluation低估Overvaluation高估Part II Valuation of Bond（债券估价）1. Bond Valuation（债券估值）A bond is a contract or a promissory note（本票）issued by a corporation or government promising to pay the owner of the bond a predetermined（预定的）amount of interest each year.2.Contractual Provisions（合同条款）of a Typical（典型的）BondPar Value（面值）Par value, also called the face value（面值）or maturity value（到期日价值）, is the nominal value stated on the bond.The par value is not necessarily equal to the bond's market value（市值）or price.At a discount（折价发行）At a premium（溢价发行）Coupon（息票）and Coupon Rate（票面利率）Coupon is the interest on a bond that the issuer promises to pay theholder until maturity（到期日）.Coupon payment is the periodic interest payment which is equal to the coupon interest rate as a percent rate multiplied（乘以）by the maturity or par value of the bond. The coupon interest rate, also called the nominal yield（名义收益率）, face value, is the contractual rate of interest based on a bond's par value.Maturity（到期日）Call Provisions（赎回条款）Sinking Fund Provisions（偿债基金条款）Conversion Rights（转换权）convertible debt（可转换债券）Put Provisions（卖出条款）Indenture（契约）Positive or affirmative covenantsTrustee（托管人,保管人）Collateral（担保物）Corporations can issue bonds as secured or unsecured debt（担保借款或信用借款）.Bond Rating（债券评级）Standard & Poor's Corporation （S & P）（标准普尔）Moody's Investors Service, Inc. （Moody's）（穆迪）Fitch Investor Services（惠誉）3. The Bond Valuation FormulaA typical （coupon）bond pays coupon every six months and pays a principal （本金）value at maturity. If the coupon payment received every six months is denoted（代表,表示）by C, the principal payment received at maturity denoted by F, the number of the six-month periods between today and maturity by t, and the appropriate discount rate by ks, then the cash flows from the bond can be written as:and the bond valuation formula can be written as:4. Bond Prices and Returns（债券价格和回报）Current Yield（当期/当年收益）Yield to Maturity（到期收益率）Yield to maturity （YTM）is also called return-to-maturity （RTM）or internal rate of return （IRR）（内含报酬率）.The yield to maturity is the required rate of return that equates the market price of a bond toits intrinsic value（内在价值）.[Glossary for this Section]Face value面值Par value面值Coupon rate息票利率Part III Valuation of Share（股票估价）Compared with valuing bonds and preferred stocks, common stock valuation is more difficult because of the uncertainty associated with the size and timing of future cash flows and the unknown nature of the required rate of return. Future cash flows may be in the form of cash dividend payments and/or changes in the stock's price （gains or losses）over the holding period. Dividends are uncertain because corporations have no legal requirement to pay them unless declared by the board of directors.Because common stock is generally riskier than bonds, investors require a higher rate of return （ks）to compensate for this risk.Dividend Discount Models（股利贴现模型）The most basic models for valuing equity are the dividend discount models.These models require two key inputs: expected dividends and required rate of return on equity.The attractions of these models stem from their simplicity and intuitive logic.The following equation shows that the intrinsic value of a common stock is the present value of the expected dividends during the holding period plus the present value of the terminal price （Pn）, which is the expected price of a stock at the end of a specified holding period.For investors who do not contemplate selling their stock in the near future, a model assumes an investor plans to buy a common stock and hold it indefinitely.This model applies both to firms that pay current dividends and to those that do not. It suggests investors must forecast dividends to infinite and then discount them back to present value at the required rate of return to estimate the value of common stock. In practice, investors cannot accurately project dividends through infinity. This does not present an insurmountable（不能克服的, 不能超越的）problem if investors can efficiently model the expected.The Constant Growth Model（股利固定增长模型）Commonly referred to as the Gordon Growth Model, the constant growth model assumes that dividends grow each period at a constant rate g, i.e., Dt = D1 （l+g）t-1 and that this growth rate g is less than the expected rate of return r. This means that, given the first period dividend D1 and the growth rate g, all future dividends can be written. Notice that in this case the current share price is growth perpetuity, and so we have:Dividend valuation model:For constant annual dividend:For dividend keep growing:Where g is the expected annual growth rate in dividend, r is the anticipated return on investment of the equity shareholders.g=return on new investmentｘthe proportion of earnings keptAnother function: this model can be used to calculate the cash flow after the project life, for example: the cash flow at the end of project life is 10 million, cash flow is expected to grow by 2% per year, current discount rate is 9%, what the cash flow after the project life.Solution: use this model=10（1+2%）/（9%-2%）=145.71GlossaryShare（BrE）股票Stock（AmE）股票Shareholder/stockholderInventory/stock存货Common stock = ordinary sharePart IV Risk and Return(风险和收益)Introduction to portfolio theory（组合理论）1.1 Uncertainty in returns（收益的不确定性）Definition of riskUncertainty of future outcomeOne approach for dealing with uncertainty in project returns is to increase the required rate of return on risky projects.Clearly use of a 'risk adjusted discount rate' can be employed in almost any situation involving risk. The practical problem is how much return we should demand for a given level of risk. To solve this problem we can turn to the Stock Exchange - a place where risk and return combinations （securities）are bought and sold every day.They usually attempt to reduce their risks by 'not putting all their eggs into one basket' and therefore hold portfolios of securities. Before we can deduce a risk-adjusted discount rate from stock exchange returns we need to identify the risks taken by investors in their diversified investment portfolios.1.2 The benefits of portfolio diversification（组合分散的好处）Both investment A and investment B show fluctuating returns over time. They both have roughly the same amount of variability. When A does well, B does badly, and vice versa.If both investments are held, the resulting portfolio will generate a greater average （absolute）return than with either one alone but a greatly reduced risk, because the 'ups' of A cancel with the 'downs' of B and vice versa.1.3 CorrelationCorrelation is a statistical measure of how strong the connection is between two variables. In portfolio theory the two variables are the returns of two investments.High positive correlation means that both investments tend to show increases （or decreases）in return at the same time:High negative correlation means that as returns on A increase, returns on B decrease.The degree of risk reduction possible by combining the investments depends on the correlation between them.The coefficient of correlation is measured on a scale from -1 （perfect negative correlation）to + 1 （perfect positive correlation）.Perfect negative correlation can, but will not always, completely eliminate risk （see Example 1）.A correlation coefficient less than + 1 can reduce risk. The further the correlation coefficient is from + 1 the greater the potential risk reduction. [the more…the more句型]1.4 The risk and return of portfoliosA formal analysis of the combination of two investments is now presented. Because portfolio theory has its roots in the management of stock exchange investments, this is referred to as the two-security portfolio. The theory starts by identifying measures of risk and return for an investment.The analysis is usually presented in terms of rates of return over a single time period.For example, if an investment is predicted to rise from a value now of 8,000 to a value in one year of 9,000, and a dividend of 1,000 will be paid in the period; it has a predicted rate of return ofThis is just as we have defined return to investors previously - dividend yield plus capital growth.We also need a measure of the risk of a particular security.Remember that, if possible returns are R1,R2……Rn, with associated probabilities P1,P2……Pn,then the standard deviation is calculated as where is the average return,Example 2Suppose we are trying to forecast the possible rates of return of two investments over the next year.We make predictions as follows:Economic climate Probability of economic climate Returns from A % Returns from Ｂ% Recession 0.2 10 6 Stable 0.5 14 15 Expansion 0.3 20 11 1.0Firstly, calculate the expected return and standard deviation of each investment. This tells us the risk and return of each security if held in isolation.Investment AEconomic Probability Return climate P RA% P×RA R 0.2 10 2 -5 5.0 S 0.5 14 7 -1 0.5 E 0.3 20 6 +5 7.5 - Variance of - =15% Return A= 13.0 - - SD,σA= ** =3.6%**recall that standard deviation=Investment BEconomic Probability Return climate P R% P×R R 0.2 6 1.2 -6 7.2 S 0.5 15 7.5 +3 4.5 E 0.3 11 3.3 -1 0.3 - Variance of - =12% Return B= 12.0 - - SD,σB= =3.46%SummaryInvestment A B Expected return 15% 12% Risk,σ 3.60% 3.46%Consider now constructing a portfolio consisting of one-half of the total amount invested in investment A and one-half in investment B.Under each economic climate the return of the portfolio would be the average of A and B. Compute the expected value and standard deviation of this portfolio:Portfolio A and BEconomic Probability Return climate P R% P×R R 0.2 1.60 -5.5 6.05 S 0.5 7.25 +10 0.50 E 0.3 4.65 +2.0 1.20 - Variance of - =13.50% Return B= 7.75 - - SD,σ= =2.78%The portfolio has an expected return which is equal to the weighted average of the two investment returns, but its risk, as measured by standard deviation, is lower than either of the two original investments. （This can also be seen by looking at the low spread of possible returns of the portfolio: 8% to 15.5%.）1.5 Indifference curves（无差异曲线）Consider the three possible portfolios constructed so far.100% A 100% B 50% A and 50% BReturn15% 12% 13.5%Risk 3.60% 3.46% 2.78%Which of these portfolios is preferable? It all depends on the investor's attitude to risk against return, which may be depicted diagrammatically as 'indifference curves'. The following diagram shows three possible investments （R, S and T）, their positions on the graph being determined by their return/risk combination. The investor who is trying to decide between them has indifference curves as shown.The indifference curves represent alternative combinations of risk and return between which the investor is indifferent. Obviously each investor will have different indifference curves, but they will tend to be of the slope indicated above. This is because most investors are averse to risk, and will demand a higher return to compensate.Thus, the indifference curves represent the trade-off between risk and return for an individual investor.In this example, the investor would prefer R to S as it is on a higher indifference curve - the lower level of risk for S does not adequately compensate for the lower level of return.QuestionWould the investor prefer T to R on the above diagram?SolutionNo - R is on a higher indifference curve than T.Note that another investor with a more risk-averse attitude may have much steeper indifference curves （requiring a much greater compensation in return for the same change in risk）which could mean they have a different order of preference:Here, the investor would prefer S to R.1.10 Covariance and correlationThe risk reduction in the last example was made possible by low correlation between the investments. Just looking at the possible returns of A and B shows that there is no consistent positive or negative relationship between them. The correlation coefficient will probably be just higher than zero.One way of computing the correlation coefficient is to first compute the covariance, which is defined as:where x, y are corresponding returns from investments X and Y arising with probability p.The covariance will be positive for positive correlation and negative for negative correlation, but its size depends on the size of the figures in the original data and is difficult to interpret.The correlation coefficient is the ratio of the covariance to the product of the two standard deviations and will vary between - 1 and + 1.Correlation,（The Greek letter ρ （rho）is normally used for correlation in portfolio theory, because the usual symbol R would be confused with return.）Applying these formulae to the two investments in the example:Covariance（A,B）Economic Probability climate P R 0.2 -5 -6 -6.0 S 0.5 -1 +3 -1.5 E 0.3 +5 -1 -1.5 Cov（A,B）-3.0 Correlation, = = +0.24The positive covariance tells us there is a positive relationship between returns on A and B but the strength of the relationship is not quantified.The correlation coefficient indicates that the positive correlation is quite weak.Significant risk reduction is therefore possible. Note: once again negative correlation is not necessary for risk reduction.1.11 Formulae for the two-security portfolioIn general, the risk of a two-security portfolio will depend on:l the risk of the constituent investments in isolationl the correlation between theml the proportion in which the investments are mixed.General formulae for the return and risk of the two-security portfolios have been developed. These are now stated:If=expected return of investment A （as a percentage）=expected return of investment B （as a percentage）xA=proportion of investment A in the portfolio（1-xA）=proportion of investment B, then:Expected return of the portfolio,Note: proportions are measured as amounts invested in each of A and B compared total amount invested.If VarA=variance of investment AVarB=variance of investment BCovA,B =Covariance between them, then:V ariance of the portfolio, VarA =xA2varA+（1-xA）2VarB+2xA（1-XA）CovA,BThe standard deviation can then be found by taking the square root.You could be required to know these equations in the examination.These formulae will now be applied to the example where A and B were mixed half and half.Investment:A BExpected return: 15%12%V ariance:1312Covariance: 3xA:0.5Expected return of portfolio, rp = （0.5 x 15%）+ （0.5 x 12%）=13.5%V ariance of portfolio, varp =（0.52×13）+（0.52×12）+（2×0.5×0.5×3）=3.25+3+1.5=7.75Portfolio standard deviation ==2.78%Note: this is less than the weighted average of the standard deviations of the constituent securities. This will be the case unless we are dealing with perfect positive correlation.These results are in accordance with those produced from first principles in the previous paragraphs.The advantage of the formulae is that they provide a way of quickly assessing portfolio return and risk if the investments are combined in different proportions.Example 3Compute the return and risk of portfolios of investments A and B when the proportions of total amount invested are as follows:Investment:A B（a）Proportion: 0.20.8（b）Proportion:0.70.3Solution（a）xA=0.2rp=（0.2×15%）+（0.8×12%）=12.6%V arp =（0.22×13）+（0.82×12）+（2×0.2×0.8×3）=9.16σp==3.03%（b）xA=0.7rp=（0.7×15%）+（0.3×12%）=14.1%V arp=（0.72×13）+（0.32×12）+（2×0.7×0.3×3）=8.71σp==2.95%The graph now shows the 'opportunity set' of all possible portfolios which can be constructed from investments A and B by varying the proportions of each investment.The optimal combination of A and B would be found by superimposing the indifference curves for a particular investor on the graph:The optimal portfolio is the point where an indifference curve is a tangent to （just touches）the opportunity set.1.12 Two-security portfolios - effect of the correlation coefficientMaximum risk reduction is possible with a correlation of-1. In this case, risk can be （but is not always）reduced to zero. If correlation is + 1, the portfolio risk is simply a weighted average of the investment risk.In both these cases, the opportunity set of possible portfolios will lie along straight lines on the graph, as shown below.For a correlation less than + 1 but greater than -1, the opportunity set will lie along a curve as in the previous example.1.13 Portfolio selection with both risky and risk-free assetsThis is the case of combining a risk-free security with a risky security.A 'risk-free' security is one which shows no variability in its predicted returns. In other words its return is known with certainty. In practice it can be approximated by an investment in government stocks or bank deposit accounts at fixed interest （although varying rates of inflation would mean the real return on these investments becomes uncertain）.A risk-free security has a zero variance, and a zero covariance with any other security （check that this must be so by examining the formulae for variance and covariance）.The formula for the variance of the two-security portfolio therefore reduces as follows:Where varA=variance of risky investment A.Taking square roots: σp=xAσAIn other words, the portfolio standard deviation is simply the standard deviation of the risky investment times the proportion of that investment in the portfolio.The expected return of the portfolio will still be a weighted average of the expected returns of the two investments.Example 4You can invest in government stock, showing a risk-free annual return of 10%, and also inshares in BP plc, which you expect to show a return of 25% p.a., subject to a standard deviation of 10%.Show the possible returns and risks of portfolios constructed out of these two securities.SolutionLet xA be the proportional amount of investment in shares in the portfolio.When combining a risk-free security with a risky security, there is a straight line trade-off between return and risk.1.14 Portfolio theory and project appraisalWe are now in a position to apply the principles of portfolio theory to project appraisal by a firm. We cannot yet develop a risk-adjusted discount rate but in considering risk the following fundamental point should be clear.The relevant risk of a security （or any investment）is not its own risk but its effect on the risk of the portfolio to which it is added.Example 5Haven Ltd is a private family owned company which earns an expected return of 12% on its existing operations, subject to a standard deviation of 20%. The family holds no other investments.It is considering a new project which has an expected return of 16%, a standard deviation of 32% and a correlation of 0.25 with Haven's existing operations.The new project would account for 25% of Haven's operations if accepted.Haven uses a measure of utility to appraise risky projects. The measure used is:WhereU=100r-σ2U=utilityr=percentage expected returnσ=percentage standard deviation of returnProjects are acceptable if they increase total utility.Is the new project acceptable?SolutionTreat the original company and the new project as a two-security portfolio （0.75 original company: 0.25 new project）. We can do this as the family has no other investments.Expected return with project =（0.75×12%）+（0.25×16%）=13%V ariance of original company =202=400V ariance of project =322=1024Covariance ==0.25×20×32=160V ariance of company with project=（0.752×400）+（0.252×1024）+（2×0.75×0.25×160）=349Standard deviation with project==18.68%SummaryWithout project With project Expected return ,r 12% 13% Standard de viation, σ 20% 18.68% Utility,100r-σ2 800 951The project is clearly worthwhile. It is expected to increase return and lower overall risk, and also increase shareholders' utility.The above technique is interesting, but clearly unworkable in practice. Its real purpose is to show what factors should be considered in project appraisal and hence to show up the weaknesses of applying simple project appraisal techniques which ignore risk.If portfolio theory went no further than this it would be a very minor part of decision making theory. However, the principles of portfolio theory can be developed into a workable model for investment appraisal. This will be explored in the following sections.2 The diversified shareholder and the capital market（股东分散和资本市场）2.1Mixing many risky securitiesPortfolio theory has its roots in the management of investors' portfolios of stock exchange investments and fixed interest stocks. The following sections show how the attempt to identify an optimal portfolio for investors has led to a comprehensive but simple theory of how the capital market relates risk and return. This, in turn, will assist us in our attempt to adjust discount rates to allow for risk.The previous section considered portfolios of two securities. It is easy to extend this theory to cover portfolios of many securities, noting that where returns are assessed in percentage terms: The expected return of a portfolio is equal to the weighted average of the returns of the individual securities in the portfolio.The risk of the portfolio depends on:（a）the risk of each security in isolation；（b）the proportions in which the securities are mixed；（c）the correlations between every pair of securities in the portfolio.When two securities were mixed, the possible portfolios lie on a curve linking the two securities （see below）.When three securities are mixed, the possible portfolios lie across an area on the graph like this:The shaded area shows the return and risk of all the possible portfolios constructed from the securities by mixing them in all possible proportions. In the 1950s, H M Markowitz developed this theory and showed how 'efficient portfolios' can be identified.。
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财务管理常用英语词汇1．business企业商业业务2．financial management财务管理3．the goal of financial management财务管理的目标4．profit maximization (maximize profit) 利润最大化5．earnings per share maximization每股盈余最大化6．stockholder (share holder) wealth maximization股东财富最大化7．stakeholder利益相关者8．stock holder/shareholder股东9．creditor/bondholder债权人10．the factors that affect the stockholder value股东价值的影响因素11．cost of capital资本成本12．capital investment资本投资13．working capital 营运资本14．capital structure 资本结构15．bankruptcy risk 破产风险16．tax rate 税率17．dividend policy股利政策18．operating activity 经营活动19．investing activity投资活动20．financing activity 筹资活动21．agency cost 代理成本22．agency problem代理问题23．moral risk道德风险24．adverse selection逆向选择25．corporate social responsibility企业社会责任26．financial markets金融市场27．money markets短期资金市场28．capital markets长期资金市场29．spot markets现货市场30．future markets期货市场31．public offer markets向公众发行的市场32．initial public offering 首次公开发行股票(即IPO）33．private placement markets私募市场34．corporate bond market企业债券市场35．stock market股票市场36．financial future market金融期货市场37．financial ratio analysis 财务比率分析38．four major categories of financial ratios 四类财务比率39．liquidity ratios 短期偿债能力比率40．long-term liquidity ratios 长期偿债能力比率41．profitability ratios盈利能力比率42．operating income经营收益43．earnings per share每股收益44．working capital营运资本45．current ratio流动比率46．quick ratio速动比率47．cash flow ratio现金流量比率48．operating cash flows经营现金流49．cash flow from operations经营活动现金流50．investing cash flows投资现金流51．cash flow from investing 投资活动现金流52．cash flows from financing筹资活动现金流53．debt ratio资产负债率54．debt-to-equity ratio产权比率55．equity multiplier权益乘数56．debt-to-long capital ratio长期资本负债率57．time of interest earned based on earnings (TIE)58．earnings-based interest coverage ratio利息保障倍数59．cash flow coverage ratio现金流量保障比率60．time of interest earned based on cash flows61．cash flow-based interest coverage ratio现金流量利息保障倍数62．debt-to-cash flow ratio现金流量债务比63．accounts receivable turnover/days sales outstanding (DSO) 应收账款周转率/应收账款周转天数64．inventory turnover存货周转率65．current assets turnover流动资产周转率66．non-current assets turnover/fixed assets turnover非流动资产周转率（固定资产周转率）67．total assets turnover总资产周转率68．gross profit margin销售毛利率69．net profit margin销售利润率70．return on assets (ROA) 资产利润率71．return on equity (ROE) 权益净利率72．Du Pont system杜邦财务分析体系73．improved financial analysis system改进的财务分析体系74．net operating assets净经营资产75．net financial liabilities净金融负债76．after-tax operating profit税后经营利润77．after-tax interest expense税后利息费用78．net financial leverage净财务杠杆79．earnings per share每股盈余80．sales forecast销售预测81．the percentage of sales method销售百分比法82．external financing requirement(EFR) 外部融资额83．sensitivity analysis of EFR外部融资需求的敏感分析84．internal growth rate内含增长率85．sustainable growth rate可持续增长率86．effective growth rate实际增长率87．overall budget (general budget) 全面预算88．sales budget销售预算89．production budget生产预算90．direct material budget直接材料预算91．direct labor budget直接人工预算92．overhead budget制造费用预算93．product cost budget产品成本预算94．sales expense and administrative销售费用95．general expense budget 管理费用预算96．cash budget现金预算97．capital expenditure budget资本支出预算98．income statement budget利润表预算99．balance sheet budget资产负债表预算100．flexible budget弹性预算101．the valuation of discounted cash flow method 折现现金流量估价法102．the time value of money 货币的时间价值103．future value and present value 复利终值与现值104．ordinary annuity普通年金105．annuity due预付年金106．deferred annuity递延年金107．perpetuity永续年金108．bond valuation债券估价109．par value (face value, principal) 债券面值110．coupon rate票面利率111．maturity date到期日112．nominal annual rate名义利率113．periodic rate周期利率114．effective annual rate实际利率115．real discount bond纯贴现债券116．zero bond平息债券117．perpetual bond永久债券118．outstanding bond流通债券119．yield to maturity 债券到期收益率120．stock valuation 股票估价121．ordinary stock普通股122．preferred stock优先股123．common stockholder 普通股股东124．preferred stockholder优先股股东125．open price开盘价126．close price收盘价127．high price最高价128．low price最低价129．zero growth model valuation零增长股票估价130．constant growth model valuation 固定增长股票估价131．non-constant growth model valuation 非固定增长股票估价132．risk and rate of return 风险和报酬133．stand-alone risk and rates of return 单项资产的风险和报酬134．Relaxed/restricted/moderate current asset investment policy宽松的/紧缩的/适中的营运资本政策135．maturity matching(self-liquidating) /aggressive/conservative current asset financing policy配合型/激进型/稳健型筹资政策136．residual income剩余收益137．credit terms for borrowing借款的信用条件138．line of credit信贷限额139．revolving credit agreement周转信贷协议140．compensating balances补偿性余额141．loan mortgage借款抵押142．forms of interest payment借款利息的支付方法143．distributions to shareholders/dividend distribution利润分配144．declaration date股利宣告日145．holder-of-record date股权登记日146．payment date股利支付日147．ex-dividend date除息日148．cash dividend现金股利149．asset (property)dividend财产股利150．liability dividend负债股利151．stock dividend股票股利152．dividend irrelevance theory股利无关论153．dividend relevance theory股利相关论154．private corporation私募公司未上市公司155．book-value weight账面价值权数156．market value weight市场价值权数157．target value weight目标价值权数158．business risk经营风险159．financial risk财务风险160．degree of operational leverage经营杠杆系数161．degree of financial leverage财务杠杆系数162．total degree of leverage总杠杆系数163．debt holder债权人164．net profit theory净收益理论165．operating profit theory营业收益理论166．trade-off theory权衡理论167．EPS analysis of financing融资的每股收益分析168．optimal capital structure最佳资本结构169．firm valuation企业价值评估170．integrated value企业的整体价值171．economic value企业的经济价值172．current market value现时市场价值173．fair market value公平市场价值174．entity value实体价值175．equity value股权价值176．going-concern value持续经营价值177．liquidation value清算价值178．minor equity value少数股权价值179．controlling equity value控股权价值180．premium of controlling rights控股权溢价181．dividend discount model股利折现模型182．option-pricing model期权定价模型183．discounted cash flow valuation折现现金流量模型184．book value 账面价值185．market value市场价值186．liquidation value 清算价值187．stand-alone risk and rates of return单项资产的风险和报酬188．probability概率189．expected value190．variance方差191．standard deviation标准差192．coefficient of variation(CV)变化系数193．portfolio risk and return投资组合的风险和报酬194．expected rate of return预期报酬率195．correlation相关性196．perfectly positive correlation完全正相关197．perfectly negative correlation完全负相关198．no correlation不相关199．coefficient of correlation相关系数200．co-variance协方差201．efficient set有效集202．capital market line资本市场线203．equilibrium均衡点204．systematic risk (market risk, non-diversifiable risk) 系统风险205．non systematic risk (company-specific risk, diversifiable risk)非系统风险206．capital asset pricing model (CAPM) 资本资产定价模型207．security market line证券市场线208．opportunity cost of capital资本的机会成本209．required rate of return on investment投资的必要报酬率210．net present value (NPV) 净现值211．profitability index (PI) 现值指数212．internal rate of return (IRR) 内含报酬率213．payback period (PP) 回收期214．accounting rate of return (ARR)会计收益率215．cash flows现金流量216．cash outflows现金流出量217．cash inflows现金流入量218．operating cash flows营业现金流量219．cash costs付现成本220．salvage value残值221．relevant cost相关成本222．irrelevant cost非相关成本223．differential cost差额成本224．future cost未来成本225．replacement cost重置成本226．opportunity cost机会成本227．sunk cost沉没成本228．historical cost过去成本229．book cost账面成本230．eplacement decision of fixed asset固定资产更新决策231．average annual cost of fixed asset固定资产的平均年成本232．adjusted cash flow method调整现金流量法233．adjusted discount rate method风险调整折现率法234．weighted average cost of capital加权平均资本成本235．project risk项目风险236．project systematic risk项目系统风险237．comparable firms可比企业238．transaction demand交易性需要239．precautionary demand预防性需要240．speculative demand投机性需要241．the management of cash receipts and expenditures现金收支管理242．use cash floats使用现金浮游量243．accelerate cash receipts加速收款244．defer the disbursement of payables推迟应付款的支付245．optimal cash balance最佳现金持有量246．cost analysis model成本分析模式247．opportunity cost机会成本248．management cost管理成本249．stock-out cost短缺成本250．inventory model存货模式251．transaction cost交易成本252．random model随机模式253．the management of accounts receivable应收账款管理254．credit policy信用政策255．credit term信用期间256．credit standard信用标准257．cash discount policy现金折扣政策258．the ages of accounts receivable应收账款账龄259．collection policy收账政策260．inventory management存货管理261．acquisition cost取得成本262．ordering cost订货成本263．purchase cost购置成本264．storage cost储存成本265．fixed cost固定成本266．variable cost变动成本267．basic economic order quantity model (EOQ model) 经济订货量基本模型268．extended economic order quantity model经济订货量扩展模型269．ordering lead time订货提前期270．safety stocks保险储备271．reorder points 再订货点272．bond ratings债券评级273．convertibles可转换证券274．convertible bonds可转换债券275．conversion price转换价格276．conversion ratio转换比率277．conversion period 转换期278．call provisions赎回条款279．non-callable period不可赎回期280．callable period赎回期281．call price赎回价格282．call conditions赎回条件283．put provisions回售条款284．force conversion provision强制性转换条款285．Leases租赁286．lease contract租赁合约287．lesser出租人288．lessee承租人289．operating leases经营租赁290．financial leases (capital leases) 融资租赁291．direct leases直接租赁292．leveraged leases杠杆租赁293．sale and lease-back售后租回294．the break-even lease income for lesser出租人的损益平衡租金295．cancellable leases可撤销租赁296．non-cancellable leases不可撤销租赁297．off-balance sheet financing表外融资298．working capital policies营运资本政策299．current asset investment policies营运资本持有政策300．current asset financing policies营运资本筹集政策301．distributions to shareholders/dividend distribution利润分配302．cash dividend现金股利303．asset (property) dividend财产股利304．liability dividend负债股利305．stock dividend股票股利306．residual dividend policy剩余股利政策307．constant or continuing growth dividend policy固定或持续增长的股利政策308．constant payout ratio dividend policy固定股利支付率政策309．target capital structure目标资本结构310．stock splits股票分割311．cost of capital资本成本312．specific cost of capital (respective component cost of capital) 个别资本成本313．weighted average cost of capital加权平均资本成本314．options期权315．option contract期权合约316．underlying asset标的资产317．maturity date到期日318．the exercise of options期权的执行319．call option看涨期权320．put option看跌期权321．american option美式期权322．european option欧式期权323．long position多头324．short position空头325．in the money实值期权326．out of the money虚值期权327．at the money 平价期权328．principles of valuing options期权估价原理329．real options（实物期权）330．purchased material外购材料331．purchased fuel外购燃料332．purchased power外购动力333．wages and welfare工资及福利费334．depreciation expense折旧费335．taxes税金336．other expenditures其他支出337．manufacturing cost生产经营成本338．selling expenses销售费用339．general administrative expenses管理费用340．inventorial costs计入存货的成本341．capitalized costs资本化成本342．expensed costs费用化成本343．product cost产品成本344．period cost期间成本345．cost object成本对象346．direct cost直接成本347．indirect cost间接成本348．effective cost实际成本349．standard cost标准成本350．total cost全部成本351．variable cost变动成本352．product-based costing system产品基础成本计算制度353．activity-based costing system作业基础成本计算制度354．absorption rate分配率355．finished goods完工产品356．work-in-process在产品357．equivalent units约当产量358．joint products联产品359．by-products副产品360．Product costing品种法361．batch costing分批法362．process costing分步法363．cost behavior成本性态364．fixed cost固定成本365．variable cost变动成本366．hybrid cost混合成本367．cost-volume-profit analysis本-量-利分析368．marginal contribution边际贡献369．contribution margin边际贡献率370．break-even analysis盈亏临界分析371．margin of safety安全边际372．the rate of margin of safety安全边际率373．sensitivity analysis敏感分析374．coefficient of sensitivity敏感系数375．ideal standard cost理想标准成本376．normal standard cost正常标准成本377．standard direct material cost直接材料标准成本378．standard direct labor cost直接人工标准成本379．standard fixed overhead固定制造费用标准成本380．variance analysis差异分析381．Performance evaluation业绩评价382．cost centre成本中心383．responsibility cost责任成本384．controllable cost可控成本385．non-controllable cost不可控成本386．profit centre利润中心387．Investment centre投资中心。