金融英语_刘文国第二版课后练习Exercises 08

Answers for Chapter eight

Ⅰ Answer the following questions in English:

1.In what section of the balance sheet would one find patents and

trademarks?

Patents and trademarks can be found in section intangible section.

2.Which depreciation method bases depreciation expense for a given

period on actual use?

The Straight-line depreciation method bases depreciation expense for

a given period on actual use.

3.Which financial statement is prepared as of a particular date rather

than for a period ending on a particular date?

The balance sheet is prepared as a particular date.

4.Who has the primary responsibility for the financial statements?

Manager has the primary responsibility for the financial statements. 5.At what value is land used in a business shown on the balance sheet?

Land is shown on the balance sheet at historical value.

6.Which of the following results from using the LIFO method of

inventory cost flows during a period of inflation?

The result is higher costs of goods sold by using the LIFO method of inventory during a period of inflation.

7.What reflects the net tax effects of the temporary differences

between the carrying values of assets and liabilities for financial reporting purposes and amounts used for income tax purposes?

The deferred income taxes result from temporary differences in

taxable and financial statement income.

8.What is the cost of a fixed asset less its accumulated depreciation?

It is the net value of the fixed assets.

9.How are held-to-maturity securities reported on the balance sheet?

It is reported as current assets on the balance sheet.

10.How many types of inventories does a manufacturing firm list on its

balance sheet?

There are three types of inventories that the manufacturing firm

list on its balance sheet. Such as raw material, working-in-process and finished products.

11.What does the FIFO inventory method assume about the first units

purchased?

The FIFO inventory method assumes that the first units purchased

should be first in use in order to reflect the historical cost of

goods sold.

12.What does a company record when it receives a cash payment for

services before it performs the services?

The company should record it as a liability (unearned revenue) increased and meanwhile cash increased.

Dr. Cash

Cr. Liability (Unearned revenue)

Ⅱ Fill in the each blank with an appropriate word or expression:

1.Basic earnings per share are computed by dividing net income by

number of outstanding shares.

2.Financial statements must be prepared in accordance with generally

accepted accounting principles.

3.The annual depreciation expense using the double-declining-balance

method is equal to multiply the twice of straight-line rate by the book value at the beginning of the year.

4.Financial instruments that derive their value from an underlying

asset or index are called Derivatives.

5.Accounts receivable are reported on the balance sheet at their net

realizable value.

6.The book value of property, plant, and equipment is the purchase

price minus accounting depreciation expense.

7.The reporting of inventory values at the lower of cost or market

reflects the accounting principle or convention of historical.

Ⅲ Translate the following sentences and passage into English:

1.公司财务报表既反映了公司的财务状况，同时也是公司经营状况的综合反映。

因此，通过分析公司财务报表，就能对公司财务状况及整个经营状况有个基本的了解。

Corporate financial reports revea l a company’s financial condition;

simultaneously it is also the synthesis reflection of operating state of company. So we can have a basic understand to the entire corporate finance and operation condition through analyzing corporate finance reports.

2.分析公司财务报表可以掌握反映公司经营状况的一系列基本指标和变化情况，

了解公司经营实力和业绩，并将它们与其他公司的情况进行比较，从而对公司的内在价值作出基本的判断。

Through analyzing corporate finance reports, we can know a series of basic target and the diversification situation reflected company

state of operation, we can also understand company’s the operating strength and the achievement, by means of comparing these situation with others we thus make the basic judgment to company's intrinsic value.

3.按有关规定，上市公司应将其中期财务报表(上半年的)和年度财务报表公开发

表。这样，一般投资者可从有关报刊上获得上市公司的中期和年度财务报表。

According to the request, listed companies should be disposure their interim financial statements (the first half of the year) and annual reports in public, so, general investors can read interim financial statements and annual reports of listed company in public media. 4.公司中期报表较为简单，年度报表则较为详细，但上市公司的各种财务报表至

少应包括两个基本报表，即资产负债表和利润及利润分配表。

The interim report is simpler, while annual report is more in detail, but at least, it must be include two basic financial statements:

balance sheet and income statement in all kinds of financial

statements of listed company.

5.资产负债表是一张静态报表，反映了该报表截止时间时公司的资金来源及分布

状况。对该表的基本分析内容包括了解分析公司当时的财务结构、经营能

力、盈利水平和偿债能力。

Balance sheet is a static statement, and it reflects resource and

distributed condition of the fund at the cut off time of statement, the fundamental analysis about this statement include financial

structure, operating strength, profitability and ability to reduce

debt.

6.对财务状况的分析不能静态地看一个数据或一张报表的内容，而应将各种财务

数据结合起来综合分析才能看出问题的实质。

The analysis of financial situation can not just only look at one

digital or contend of a piece of statement in static, the essence of problem can be found through combining of all kinds of financial

statement data with the generalized analysis.

Ⅳ Translate the following sentences and passage into Chinese:

1.The significance of transparent, timely and reliable financial

statements and its importance to investor protection has never been more apparent.

财务报表的透明，实时和可靠和对投资者保护的重要性从未明显的显现。

2.If a company fails to provide meaningful disclosure to investors

about where it has been, where it is and where it is going, a

damaging pattern ensues.

如果公司不能披露诸如公司取得什么成绩,正在做什么和将要做什么等有意义的信息给投资者,公司将面临困难局面。

3.The bond between shareholders and the company is shaken; investors

grow anxious; prices fluctuate for no discernible reasons; and the trust that is the bedrock of our capital markets is severely tested.

如果股票持有人与公司间的信誉关系不稳固,投资者就会增加忧虑,进而导致不明原因的价格波动,资本市场的根基-信誉将受到严峻地考验.

4.When we look at the balance sheet we need to know how to assess the

numbers. Financial ratios can be calculated from the balance sheet, and these help the investor understand the state of liquidity and growth potential of the company in question.

在查阅资产负债表时我们需要知道如何评价这些数据,借助于资产负债表中的数据我们可以计算出财务比率,这些财务指标有助于投资者了解公司在资金的流动性和增长潜力等方面的情况.

5. A balance sheet, also known as a "statement of financial position",

reveals a company's assets, liabilities and owners' equity (net

worth).

资产负债表,通常被认为财务状况变动表,它揭示了公司的资产,负债和所有者权益(净值).

6.The income statement covers a specific period of time. It is usually

released every financial quarter, and at the end of the fiscal year (FY).

损益表揭示了一个特定时间周期的收益数据, 损益表通常在每个财务季度和财务年度末公开发表.