财务管理外文翻译
财务管理外文文献及翻译
附录A财务管理和财务分析作为财务学科中应用工具。
本书的写作目的在于交流基本的财务管理和财务分析。
本书用于那些有能力的财务初学者了解财务决策和企业如何做出财务决策。
通过对本书的学习，你将了解我们是如何理解财务的。
我们所说的财务决策作为公司所做决策的一部分，不是一个被分离出来的功能。
财务决策的做出协调了企业会计部、市场部和生产部。
无论企业的形式和规模如何，财务原理和财务工具均适用。
就像对小规模的私营企业而言存在如何筹资的问题，大企业面临所有权和经营权分离时出现的代理问题。
不管公司的规模和形式是如何的，公司财务管理的基本原理是一样的。
例如，无论是独资企业做出的决策还是大企业做出的决策，今天一美元的价值都高于未来一美元的价值。
我们所说的财务原理和财务工具适用于全球的企业，不仅限于美国的企业。
虽然国家习惯和法律可能与国家的原则理论存在着不同，但财务管理用到的工具是一样的。
例如，在评估是否要买一个特殊设备的价值时，你需要评估企业未来现金流的发生（设备成本和支出的时间和设备的不确定性），这个企业位于美国、英国还是在其他的地方?此外，我们相信拥有强大的财务原理和数学相关工具的依据对于你了解如何做出投资和财务决策十分必要。
但是建立这种依据比不费力。
我们试图帮你建立这种依据的途径是通过直觉提出财务原理和财务理论。
而不是原理和证据。
例如，我们引导你通过数字和真实例子对资本结构原理产生直觉，而不是利用公式和证据。
再者我们试图帮助你通过仔细的逐步的例子和大量数据处理财务工具。
财务管理和财务分析分为7个部分。
前两个部分（第一部分和第二部分）涉及到基础部分，它包括财务管理、估价原则的目标以及风险和回报之间的关系。
财务决策涉及到第三、四、五部分的内容，我们提出了长期投资管理（通常被称为资本预算）的长期来源、管理和资金管理工作。
第六部分涉及到财务报表分析，它包括财务比率的分析，盈利分析和现金流量分析。
最后一个部分（第七部分）涉及到一些专业论题：国际财务管理，金融结构性金融交易（例如资产证券化），项目融资，设备租赁贷款和财务规划策略。
财务管理英汉对照
1.1、the financial manager plays a dynamic role in a modern company's development. this has not always been the case. until around the first half of the 1900s financial managers primarily raised funds and managed their firms' cash positions-and that was pretty much it. in the 1950s, the increasing acceptance of present value concepts encouraged financial managers to expand their responsibilities and to become concerned with the selection of capital investment projects.财务经理的能动作用，在现代公司的发展。
这并非总是如此。
直到1900财务经理上半年各地主要募集资金和管理他们公司的现金头寸，这是差不多了。
在20世纪50年代，目前的价值观念越来越多地接受,鼓励财务经理去扩大自己的责任,并涉及资本投资项目的选择。
1.2、T oday, external factors have an increasing impact on the financial manager. Heightened corporate competition, technological change, volatility in inflation and interest rates, worldwide economic uncertainty, fluctuating exchange rates, tax law changes, and ethical concerns over certain financial dealings must be dealt with almost daily. As a result, finance is required to play an ever more vital strategic role within the corporation. The financial manager has emerged as a team player in the overall effort of a company to create value. The “old ways of doing things” simply are not good enough in the world where old ways quickly become obsolete. Thus, today’s financial mana ger must have the flexibility to adapt to the changing external environment if his or her firm is to survive.如今，外部因素对财务经理的影响越来越大。
财务管理外文翻译
财务管理外文翻译Corporate Purchasing and payment of internal accountingcontrol system designLars Ny bergSpeech by Mr Lars Ny berg, Deputy Governor of the Severs Risks bank, at HQ Bank, 15October 2008.From Wikipedia, the free encyclopediaAbstractThis article discusses the procurement and payment of the basic system of internal accounting controls, and in accordance with its business processes, detailing the implementationof the relevant control points control measures.Keywords: procurement and payment; accounting controlProcurement and payment business is an enterprise payment of money, to obtain goods or services of the process is production and operations management is a major componentis the enterprise survival and development. Therefore, enterprises should develop procurement and payment business of internal accounting control system, a sound business records control systems, to strengthen its control over key points of business processes, implementation of the procurement decision-making areas of mutual restraint and supervision. First, purchasing and payment definition of internal accounting controlProcurement and payment of internal accounting control refers to regulate corporate purchasing and payment behavior, the procurement and payment process to prevent errors and fraud to ensure that the procurement to meet the production and sale under the premise to minimize procurement costs and take a series of control measures.Second, procurement and payment transactions of the basic system of internal accountingcontrolsIn order to give full play to the procurement and payment business the role of internal accounting controls for the content of the procurement and payment services should be designed following the procurement and payment transactions of the basic system of internal accounting controls.(A) is incompatible with official positions for division of labor system 1, please purchase and approval. Enterprises purchasing items needed by the user departments according to their application and approved by the responsible persons in charge of procurement for approval; 2, inquiry and identify suppliers. Corporate purchasing department and relevant departments should participate in inquiry procedures and identify suppliers; 3, procurement of contracts and auditing. Corporate purchasing department should be prepared under the purchase order or contract and authorized department or officer review, approval or appropriate audit; 4, procurement and acceptance. Purchasing staff can notwork at the same time as acceptance of goods; 5, procurement, inspection and related accounting records. Corporate procurement, inspection and accounting record keeping functions should be separatedin order to ensure the authenticity of the number of procurement and procurement price, quality, compliance, procurement records and accounting accuracy; 6, the implementation of payment processing and payment. Corporate payment processing and payment of the executors of people should be separation of duties. (B) authorize the examination and approval systemEnterprises should make it clear people are purchasing and payment processing business, authorized to approve methods, powers, procedures, responsibilities and related control measures to require managers to conduct procurement and payment business terms of reference and work requirements. According to the procurement and payment services, control of the approval points include: 1, the enterprise's production planning department generalorders according to customers or to sales forecasting and inventory requirements analysis to determine the production licenses; 2, business capital expenditures and lease contracts are usually will be special authorization which only allowed a particular officer requisitions; 3, enterprises are an important and highly technical procurement business, shall organize experts to conduct feasibility studies, implementation of collective decision-making and approval, to prevent serious losses caused by errors in the decision-making; 4, procurement contracts Thesigning is subject to the approval of authorized personnel; 5, purchasing the payment of money shall be subject to the approval of authorized personnel. (C) control of business recordsProcurement and payment transactions for the realization of internal accounting control objectives, the enterprise should establish requisitions, contracts, acceptance of orders, warehousing and other settlement documents as the carrier single of the business recordscontrol system. In this system should be numbered consecutively in the certificate, record, signature stamp, so that account card, account payments, account form, accounts are, and check ID signed certificate with the records according to the procedures required to deal with, so that can effectively prevent the economy from Business omission and duplication, and check whether there is fraud.procurement and payment business processes, internal accounting controlsIn general, the procurement and payment business processes,including requisitioning, procurement operations, warehousing inspection, payment settlement, according to China's "internal accounting control standards - Procurement and Payment (Trial)", enterprises should be strengthened at least the following control point of control.(A) Please purchaseProposed goods and services need to be part of the beginning of the procurement, companies can be different depending on the need to developa system of requisitions. Production and operation are more demand for raw materials, spare parts and other items, usethe departments to budget for the upcoming issue of production orders, etc. fill requisitions by the purchasing department, finance department, business department staff to participate in the requisition The audit, authorized by the corporate head of purchasing for approval. Please purchase a single-type triple, indicating the requisitioning office, requisitionsfor the goods name, specifications, quantity, requested arrival date and purpose and so on. Important please purchase goods or services shall be subject to the decision-making demonstration and a special approval procedures; Pro Star items needed, usually by the user according to actual needs directly without going through the purchasing department signed or ratified. However, users are generally in requisitions to explain the purpose and use of requisition by the use of department heads for approval, and Finance department consent, to pay the purchasing department to conduct procurement; urgent needs to develop a special request to buy a special approval process; special reason needed Cancel requisition application, originally requested the purchase department should inform the purchasing department to stop purchasing, the purchasing department should be in the originalrequisitions stamped "withdrawn" stamp, and returned to the requisitioning department. (B) InquiryIn order to ensure a transparent pricing mechanism, enterprisesshould develop a reasonable inquiry process and focus on relevant information about the supplier. Control measures are: 1, on a regular basis to understand the basic information providers, such as product price, quality, delivery conditions, reputation, service and supplier of equipment status,technical capability and financial condition, etc., in order to provide reliable informationon corporate purchasing decisions; 2, pairs of potential suppliers should be on its quality, technical, financial status of the feasibility of the survey; 3, and important for the bulk procurement of goods,should be established by the procurement, technology and other departments involved in quality than parity system, considering the price, quality, delivery conditions, credibility and after-sales service, etc.; 4, can be used for certain procurement tender, procurement of side items to meet the quality, delivery time required in the ci rcumstances, in an open manner, the bidding would not regard theprice as the only factors; 5, for the piecemeal procurement of goods,due to low purchase price is not high, using the above-mentioned procurement costs will be too high, generally authorized to providedirect procurement, but also should be formed by independent random unannounced visits to the personnel system; 6, on the The above factors determine the target price, and in consultation with the relevant suppliers in order to achieve the best price. (C) ProcurementInquiry procedure is completed, procurement departments are required to make the following decisions: 1, according to the assets is stored, identify the procurement of goods andquantity of the batch; 2, according to inquiry control system, choose the most beneficialto production and lowest cost suppliers; 3, will be invited to purchase a single retirement requisitioning departments together to show their reply; a joint preparations for the financial sector retirement funds; a joint purchasing department as the basis for the signing of purchase and sales contracts.(D) ContractPurchasing departments should promptly signed a contract with the supplier, the contract must be in accordance with the provisions of the procurement authority by the authorized persons at all levels of approval to. Contract type a triple, a cross-vendor delivery request, a hand from the custody of the purchasing department is responsible for the implementation of the contract, a contract by the Finance department to oversee the implementation. Small number of certain purchases, are not frequently purchased items, you can not sign a contract and direct purchase, in order to simplify procedures, speed up the purchase rate. Some enterprises in order to replace purchase orders for contracts, order the elements must be designed to complete, usually a type triple, and numbered consecutively.(E) AcceptanceAcceptance officer under orders, contracts and other documents onthe procurement of goods varieties, specifications, quality and other relevant content inspection. Inspection personnel to points, had said or measuring the number of items and other means to verify the correctness. The extent possible, the quality of goods within the inspection. Experience, items collected by the acceptance of entry, according to members of a single acceptance.Acceptance of a single check and accept the custody officer underthe quantity and quality of physical and fill storage lists, and specify the supplier name, receipt date, item name, quantity, quality, and so on. Warehousing unitary triple, a joint retention of registered warehouse ledger; a joint by the Finance department, handle settlement; a joint return the purchasing department with the purchase and sale contracts, requisitions after the induction for the record check.(F) paymentsFinancial sector invoices, shipping orders, acceptance of orders, storage, and other relevant documents a single examination, and contract reconciliation, approval by the companiesauthorized to handle settlement provider. Payment after theexpiration of timely payments in order to maintain good business credit. Procurement need to pay in advance or deposit shall be paid only after proper authorization, and must be received from suppliers related to the Notes. For enterprises to adopt credit purchase items, thus theformation of the debt settlement business must also be strengthened controls. Specific requirements are:1, recorded accounts payable invoices and other documents must be authorized by the Company are recorded only after approval; 2, by specialized personnel on a regular basiswith suppliers check their accounts, if the reconciliation was found, it should promptly identify the cause clarify responsibilities,according to the relevant regulations to ensure that the accounts ofboth sides in line; 3, according to both a pre-agreed conditions and timely liquidation of debt, payment arrears, the basis of the relevant certificate, the registration books of account.In practice, enterprises should be based on the procurement and payment business, the specific characteristics, and constantly improve and revise its system of internal accounting controls to ensure that business activities in an orderly and efficient operation.References:1, the Ministry of Finance. Internal accounting control standards - the basic norm (trial).Accounting (2001) 41.2, the Ministry of Finance. Internal accounting control standards - Procurement and Payment (trial). Accounting (2002), No. 21.3, internal accounting control system Practice [M]. Democracy andthe building of Press,2004.From Wikipedia, the free encyclopedia企业购买和支付的内部会计控制系统设计Lars Ny bergSpeech by Mr Lars Ny berg, Deputy Governor of the Severs Risks bank, at HQ Bank, 15October 2008.From Wikipedia, the free encyclopedia摘要本文讨论了采购和付款的基本系统的内部会计控制，并根据其业务流程，详细说明了实施相关的控制点控制措施。
财务管理术语中英文对照
财务管理术语表Absorption costing 吸收成本法：Total Cost Methods全部成本法: 将某会计期间内发生的固定成本除以销售量，得出单位产品的固定成本，再加上单位变动成本，算出单位产品的总成本。
Accounting 会计：对企业活动的财务信息进行测量和综合，从而向股东、经理和员工提供企业活动的信息。
请参看管理会计和财务会计。
Accounting convention会计原则:会计师在会计报表的处理中所遵循的原则或惯例。
正因为有了这些原则，不同企业的会计报表以及同一企业不同时期的会计报表才具有可比性。
如果会计原则在实行中发生了一些变化，那么审计师就应该在年度报表附注中对此进行披露。
Accounts 会计报表和账簿: 这是英国的叫法，在美国，会计报表或财务报表叫做Financial Statements,是指企业对其财务活动的记录。
Chief financial officerAccounts payable应付账款: 这是美国的叫法，在英国，应付账款叫做Creditors，是指公司从供应商处购买货物、但尚未支付的货款。
Accounts receivable 应收账款:这是美国的叫法，在英国，应收账款叫做Debtors,是指客户从公司购买商品或服务，公司已经对其开具发票，但客户尚未支付的货款。
Accrual accounting 权责发生制会计:这种方法在确认收入和费用时，不考虑交易发生时有没有现金流的变化。
比如，公司购买一项机器设备，要等到好几个月才支付现金，但会计师却在购买当时就确认这项费用。
如果不使用权责发生制会计，那么该会计系统称作“收付制”或“现金会计”。
Accumulated depreciation 累计折旧:它显示截止到目前为止的折旧总额。
将资产成本减去累计折旧，所得结果就是账面净值。
Acid test 酸性测试:这是美国的叫法，请参看quick ratio速动比率（英国叫法）。
财务管理必备中英文对照
四、小结
Summary
第一部分
Chapter One
企业财务管理概览
Financial Management Framework
企业的财务本质
折旧
成
品
工
存货
厂
市 场 销
/
售
办
在
费
公
产
用
室
品
—
存货
固
定 资 产
原 材 料
人 工 及
存货
服
务
材料
固定资产
市场/客户 供应商
现金销售
赊销
应收
现 金
债
权
贷
人
款
High Rotation: low margin, high speed, exhaustive assets utilization, cost control, capital amount reduction
流程卓越
定义：“流程卓越”是指企业在最低成本、给客户带来最少不便的
情 况下，向客户提供标准化的、简捷的、可靠的产品和服务。 “流程卓越”需要优化企业从采购到分销整个增值链中的每
游戏规则：股东权益最大化
企业发展典型阶段
兼并/收购 高速扩展
商业化 中试阶段 创意/原型
风险投资 风险投资
私募
（种子基金） （风险基金） （金融投资
战略投资）
初次公开发行 （IPO）
(公众投资）
发债前/后续 发行新股 （银行和 公众投资）
The Goals of the Firm
还款/利息
分红 /回购
投 资
股 东
应付
企业经济本质
• 资金流转和增值过程 Capital rotation & value creation process
财务管理专业英语翻译
1、Financial management is an integrated decision-making process concerned with acquiring,financing, and managing assets to accomplish some overall goal within a business entity. 财务管理是为了实现一个公司总体目标而进行的涉及到获取、融资和资产管理的综合决策过程。
2、Making financial decisions is an integral part of all forms and sizes of businessorganizations from small privately-hold forms to large publicly-traded corporations.做财务决策对于所有形式和规模的商业组织，无论是小型私人公司还是大型股份公开交易的公司来说，都是不可分割的一部分。
3、In today’s rapidly changing environment, the financial manager mus t have the flexibilityto adapt to external factors such as economic uncertainty, global competition, technological change, volatility of interest and exchange rates, changes in laws and regulations, and ethical concerns.在当今瞬息万变的环境中，财务经理必须具备足够的灵活性以适应外部因素，如经济的不确定性、国际竞争、技术变革、利息波动、汇率变动、法律法规变化以及商业道德问题。
4、The financial manager makes investment decisions about all types of assets-items on theleft-hand side of the balance sheet.财务经理要做出关于所有形式的资产—即资产负债表左侧所列示项目的投资决定。
财务管理专业英语翻译(老师划的重点)
第一单元Financial management is an integrated decision-making process concerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity.财务管理师为了实现一个公司总体目标而进行涉及到获取、融资和资产管理的综合决策过程Other names for financial management include managerial finance , corporate finance, and business finance.财务管理的其他名称，包括理财，企业融资，商业融资。
Making financial decisions is an integral part of all forms and sizes of business organizations from small privately-held firms to large publicly-traded corporations做财务管理决策对于所有形式和规模的商业组织，无论是小型私人公司还是大型股份公开交易的公司来说，都是不可分割的一部分。
The person associated with the financial management function is usually a top officer of the firm such as a vice president of finance or chief financial officer (CFO).与财务管理职能相关的人通常是在诸如财务副总裁或财务总监的公司高层官员This individual typically reports directly to the president or the chief executive officer (CEO).这样的人通常直接报告总裁或首席执行官In today’s rapidly changing environment, the financial manager must have the flexibility to adapt to external factors such as economic uncertainty, global competition, technological change, volatility of interest and exchange rates, changes in laws and regulations, and ethical concerns.在当今瞬息万变的环境、财务经理必须有灵活的时间来适应外部因素如经济不确定性、国际竞争、技术变革、利息和汇率波动变化的法律、法规,伦理问题。
财务管理制度(中英文对照)
财务管理制度（中英文对照）Financial Management System一、概述Overview财务管理制度是企业为了规范和管理财务活动而建立的一套制度和规范。
它的目的是确保企业的财务活动得到合理的安排和有效的控制，以最大程度地实现财务目标。
下面是本公司财务管理制度的具体内容。
The financial management system is a set of rules and regulations established by a company to regulate and manage financial activities. Its purpose is to ensure that financial activities are properly organized and effectively controlled to maximize financial goals. The following is the specific content of the financial management system in our company.二、财务核算Financial Accounting1. 制度概述1. System Overview本公司财务核算制度由财务部门负责执行。
所有财务活动必须按照国家法律法规和会计准则进行核算和报告。
The financial accounting system in our company is implemented by the finance department. All financial activities must comply with national laws and regulations as well as accounting standards for accounting and reporting.2. 财务报表2. Financial Statements按照国家相关规定和会计准则，财务部门将每年编制并及时发布财务报表，包括资产负债表、利润表和现金流量表等。
财务管理外文翻译(原文+译文))
【2016年9月】原文：Financial Risk ManagementAlthough financial risk has increased significantly in recent years, risk and risk management are not contemporary issues. The result of increasingly global markets is that risk may originate with events thousands of miles away that have nothing to do with the domestic market. Information is available instantaneously, which means that change, and subsequent market reactions, occur very quickly. The economic climate and markets can be affected very quickly by changes in exchange rates, interest rates, and commodity prices. Counterparties can rapidly become problematic. As a result, it is important to ensure financial risks are identified and managed appropriately. Preparation is a key component of risk management.What Is Risk?Risk provides the basis for opportunity. The terms risk and exposure have subtle differences in their meaning. Risk refers to the probability of loss, while exposure is the possibility of loss, although they are often used interchangeably. Risk arises as a result of exposure.Exposure to financial markets affects most organizations, either directly or indirectly. When an organization has financial market exposure, there is a possibility of loss but also an opportunity for gain or profit. Financial market exposure may provide strategic or competitive benefits.Risk is the likelihood of losses resulting from events such as changes in market prices. Events with a low probability of occurring, but that may result in a high loss, are particularly troublesome because they are often not anticipated. Put another way, risk is the probable variability of returns.Since it is not always possible or desirable to eliminate risk, understanding it is an important step in determining how to manage it. Identifying exposures and risks forms the basis for an appropriate financial risk management strategy.How Does Financial Risk?Financial risk arises through countless transactions of a financial nature, including sales and purchases, investments and loans, and various other business activities. It can arise as a result of legal transactions, new projects, mergers and acquisitions, debt financing, the energy component of costs, or through the activities of management, stakeholders, competitors, foreign governments, or weather. When financial prices change dramatically, it can increase costs, reduce revenues, or otherwise adversely impact the profitability of an organization. Financial fluctuations may make it more difficult to plan and budget, price goods and services, and allocate capital.There are three main sources of financial risk:1. Financial risks arising from an organization’s exposure to changes in market prices, such as interest rates, exchange rates, and commodity prices.2. Financial risks arising from the actions of, and transactions with, other organizations such as vendors, customers, and counterparties in derivatives transactions3. Financial risks resulting from internal actions or failures of the organization, particularly people, processes, and systemsWhat Is Financial Risk Management?Financial risk management is a process to deal with the uncertainties resulting from financial markets. It involves assessing the financial risks facing an organization and developing management strategies consistent with internal priorities and policies. Addressing financial risks proactively may provide an organization with a competitive advantage. It also ensures that management, operational staff, stakeholders, and the board of directors are in agreement on key issues of risk.Managing financial risk necessitates making organizational decisions about risks that are acceptable versus those that are not. The passive strategy of taking no action is the acceptance of all risks by default.Organizations manage financial risk using a variety of strategies and products. It is important to understand how these products and strategies work to reduce risk within the context of the organization’s risk tolerance and objectives.Strategies for risk management often involve derivatives. Derivatives are traded widely among financial institutions and on organized exchanges. The value of derivatives contracts, such as futures, forwards, options, and swaps, is derived from the price of the underlying asset. Derivatives trade on interest rates, exchange rates, commodities, equity and fixed income securities, credit, and even weather.The products and strategies used by market participants to manage financial risk are the same ones used by speculators to increase leverage and risk. Although it can be argued that widespread use of derivatives increases risk, the existence of derivatives enables those who wish to reduce risk to pass it along to those who seek risk and its associated opportunities.The ability to estimate the likelihood of a financial loss is highly desirable. However, standard theories of probability often fail in the analysis of financial markets. Risks usually do not exist in isolation, and the interactions of several exposures may have to be considered in developing an understanding of how financial risk arises. Sometimes, these interactions are difficult to forecast, since they ultimately depend on human behavior.The process of financial risk management is an ongoing one. Strategies need to be implemented and refined as the market and requirements change. Refinements may reflect changing expectations about market rates, changes to the business environment, or changing international political conditions, for example. In general, the process can be summarized as follows:1、Identify and prioritize key financial risks.2、Determine an appropriate level of risk tolerance.3、Implement risk management strategy in accordance with policy.4、Measure, report, monitor, and refine as needed.DiversificationFor many years, the riskiness of an asset was assessed based only on the variability of its returns. In contrast, modern portfolio theory considers not only an asset’s riskiness, but also its contribution to the overall riskiness of the portfolio to which it is added. Organizations may have an opportunity to reduce risk as a result ofrisk diversification.In portfolio management terms, the addition of individual components to a portfolio provides opportunities for diversification, within limits. A diversified portfolio contains assets whose returns are dissimilar, in other words, weakly or negatively correlated with one another. It is useful to think of the exposures of an organization as a portfolio and consider the impact of changes or additions on the potential risk of the total.Diversification is an important tool in managing financial risks. Diversification among counterparties may reduce the risk that unexpected events adversely impact the organization through defaults. Diversification among investment assets reduces the magnitude of loss if one issuer fails. Diversification of customers, suppliers, and financing sources reduces the possibility that an organization will have its business adversely affected by changes outside management’s control. Although the risk of loss still exists, diversification may reduce the opportunity for large adverse outcomes.Risk Management ProcessThe process of financial risk management comprises strategies that enable an organization to manage the risks associated with financial markets. Risk management is a dynamic process that should evolve with an organization and its business. It involves and impacts many parts of an organization including treasury, sales, marketing, legal, tax, commodity, and corporate finance.The risk management process involves both internal and external analysis. The first part of the process involves identifying and prioritizing the financial risks facing an organization and understanding their relevance. It may be necessary to examine the organization and its products, management, customers, suppliers, competitors, pricing, industry trends, balance sheet structure, and position in the industry. It is also necessary to consider stakeholders and their objectives and tolerance for risk.Once a clear understanding of the risks emerges, appropriate strategies can be implemented in conjunction with risk management policy. For example, it might be possible to change where and how business is done, thereby reducing the。
财务管理翻译
财务管理翻译Financial management is the process of planning, organizing, controlling, and monitoring financial resources to achieve the organizational goals and objectives. It involves making informed decisions about how to allocate and invest funds, as well as managing financial risks.One of the key aspects of financial management is budgeting, which involves setting financial goals and creating a plan to achieve them. This includes estimating income and expenses, identifying areas for cost reduction, and prioritizing spending. A well-executed budget helps to ensure that financial resources are used efficiently and effectively.Another important component of financial management is financial forecasting, which involves predicting future financial outcomes based on historical data and market trends. This allows organizations to anticipate potential financial challenges and develop strategies to mitigate risks. By analyzing various scenarios and making informed predictions, financial managers can make informed decisions about investments and resource allocations. Financial management also includes financial analysis, which involves evaluating the financial health and performance of an organization. This includes analyzing financial statements, such as balance sheets, income statements, and cash flow statements, to assess profitability, liquidity, and solvency. Financial analysis helps identify areas of strength and weakness and provides insights into the financial health of the organization.Risk management is another important aspect of financial management. It involves identifying potential financial risks and developing strategies to mitigate them. This includes assessing the impact of various risks, such as fluctuating market conditions, interest rate changes, and currency fluctuations, and implementing measures to reduce exposure to these risks. By managing and mitigating risks, organizations can protect their financial resources and minimize potential losses.In addition to these core components, financial management also includes other activities such as capital budgeting, which involves evaluating and selecting long-term investments, and financial reporting, which involves preparing and presenting financial information to stakeholders.Overall, effective financial management is essential for organizations to achieve their goals and objectives. It helps organizations plan for the future, make informed decisions, allocate resources efficiently, manage risks, and ensure financial transparency and accountability. By implementing sound financial management practices, organizations can enhance their financial performance and position themselves for long-term success.。
财务管理的英文怎么说
财务管理的英文怎么说简单的说，财务管理是组织企业财务活动，处理财务关系的一项经济管理工作。
那么你知道财务管理用英文怎么说吗?下面店铺为大家带来财务管理的英文说法和相关英语例句，供大家阅读学习。
财务管理的英文说法1：financial management英 [faɪˈnænʃ(ə)l ˈmænidʒmənt]美 [faɪˈnænʃ(ə)l ˈmænɪdʒmənt]财务管理的英文说法2：management through finance英 [ˈmænidʒmənt θru: faiˈnæns]美 [ˈmænɪdʒmənt θru fəˈnæns]财务管理相关英文表达：国际财务管理师 International Finance Manager财务管理系统 financial management system财务管理组织 financial management organization财务管理与分析 Financial Management and Analysis家庭财务管理系统 Family Financial Management财务管理英文说法例句：1. In running a company, strict financial management means everything.经营一家公司, 严格的财务管理是至关重要的.2. The company was skillfully financed.这个公司的财务管理得很得法.3. Financial controls were given to priority.他们把财务管理当成头等大事.4. It also provides the ERP solution for the financemanagement system.提出了ERP在财务管理系统的解决方案.5. Financial management is key in any company or enterprise.在任何公司和企业单位中财务管理是关键.6. The perfect foreign trade enterprise supplies the chain the financial control.完善外贸企业供应链的财务管理.7. My assignment of strategy Financial Management is due today.我的转让的战略财务管理,是今天上交.8. Corporate enterprise, there are three levels of financial management.公司制企业财务管理存在着三个层次.9. Bachelor degree or above, majored in accounting, finance management or other related.大学本科学历,会计专业、财务管理专业.10. Investment decision - making is a substantial portion of enterprise finance management.投资决策是企业财务管理中的一个重要部分.11. B 2 C e - commerce system, client relationship management system, financial system, Internet marketing system.B2C电子商务系统、客户关系管理系统、财务管理系统、网络营销系统.12. Financing is an eternal topic in business development and financial management.融资是企业经营发展和财务管理的永恒话题.13. At least 3 years experiences at department managerial level . 4.具有三年以上国际物流行业财务管理经验.14. Financial management is guided by a framework ofguidelines, limits and benchmarks.财务管理是遵循一个框架,指导方针, 限制和基准.15. Real estate finance and investment, Financial Management, Project finance, etc.房地产融资与投资(双语) 、财务管理(双语) 、项目融资等.。
财务管理系统中英文对照外文翻译文献
中英文资料翻译A Financial Control System that Focuses on Improvement and SuccessOf course, we are not saying that businesses should ignore prudent controls over their cash drawer. The point is that focusing on small components while not knowing how much cash is tied up in receivables does not represent a control system that recognizes priorities and risk. Focusing solely on the rote and mundane does little to improve your overall financial performance. Financial control systems shouldn’t just be about compliance, they should be about continually improving key aspects of the financial operation such as:∙Regularly reviewing and improving the overall capital structure.∙Using a capital plan to minimize the cost of capital while strengthening the Debt/Equity position.∙Managing working capital so excessive inventories and receivables do not sap financial resources.∙Ensuring proper calculations and scenarios are explored while making debt/investment or leasing decisions.∙Maximizing returns while minimizing costs for cash and merchant accounts.A control system of well-defined processes is not only about control or compliance, it is also about consistently striving to do a little better. Control systems that are designed only to achieve compliance are doing the bare minimum, and they represent a missed opportunity to gain improvement and a competitive edge. And that should be enough reason for any size and type of company to think about using a continual improving process approach to creating a financial internal control system. Sox is nice; but continual improvement is better for everyone.Financial control of projectsPurpose:Established and effective cost control systems and procedures, understood and adopted by all members of the project team, entail less effort than ‘crisis management’ and will release management effort to other areas of the project.Fitness for purpose checklist:∙The prime objective of the government’s procurement policy is to achieve best VFM.∙To exercise financial/cost control, project sponsors need to review and act on the best and most appropriate cost information. This means that they should receive regular, consistent and accurate cost reports that are both comprehensive in detail and presented in a manner that permits easyunderstanding of both status and trends. Reports need to be tailored to suit the individual needs of each project and should always be presented to givea comparison of the present position with the control estimate.∙Reports to project sponsors normally give only the status of the project overall. But sponsors will on occasion need to monitor costs against a specific cost centre in more detail. The typical contents of a cost report are given in Annex A.∙Tables of figures are essential, but for rapid understanding and analysis of trends some graphs are helpful.Suggested content:The following aspects should be addressed in a financial report (rather than repeating detailed information available in earlier reports, later reports can summarise the key points and cross refer to the relevant earlier reports):∙development of budget∙original authorised budget∙new budget authorisations (giving justification for changes)∙current authorised budget∙expenditure to date(Each section on budgets and expenditure should address the original base estimates and risk allowances for each element)∙commitments∙agreed variations (giving justification for variations)∙potential/expected claims or disputes awaiting resolution (if the project is going well, this area should be small)∙commitments required to complete∙orders yet to be placed∙variations pending∙future changes anticipated.Each of the following cost elements should be covered:∙in-house costs and expenses (including all central support services, administration, overheads etc)∙consultancy fees and expenses (design, feasibility, client advice, legal, construction management, site supervision etc)∙land costs∙way leaves and compensation∙demolition and diversion of existing facilities∙new construction or refurbishment costs∙operating costs∙maintenance costs∙disposal costs∙insurance costs∙all other costs relating to the project not listed above.∙All prices need to be discounted to a common base.∙Example of a cost summary reportFinancial ControlFinancial Control is a major contributory factor to business survival. For many managers, exercising effective financial control is, at best, seen as a mystery and, at worst, not even considered. Yet monitoring a small number of important figures can ensure that you retain complete and effective financial control.ObjectivesThis section is intended to help you put in place that financial control: to ensure that you are estimating costs accurately and then keeping them under control; to ensure that you are charging and/or paying the right price; and to ensure that you can collect money owed to you and can pay your bills as they fall due. Its objectives are:∙to demonstrate how effective financial control assists in the management of the organisation in which you work;∙to show that control can be achieved through simple documentation; and,∙to suggest financial indicators for inclusion in your strategic objectives.1 Achieving ControlGood financial results will not arise by happy accident! They will arise by realistic planning and tight control over expenses. Remember that profit is the comparatively small difference between two large numbers: sales and costs. A relatively small change in either costs or sales, therefore, has a disproportionate effect on profit.You must watch your costs/prices and margins very carefully at all times since small changes in any of these areas can lead to substantial changes in net profit. Control can then be exercised by comparing actual performance with budget. To do this, you will need to produce:∙ a financial plan, agreed as being achievable by all concerned; and,∙some means of monitoring performance against the plan.Since there will always be differences between the actual and the plan, you need some form of control. Beyond a certain organisational size, control can only be exercised by delegation; the human aspect of control is, therefore, important.Why keep records?Accurate record keeping is required if you are to be effective in monitoring performance against budget. Other reasons why you will need to keep accurate records are:∙there is a legal obligation to do so;∙any shareholders may want accounts;∙the VAT inspectors will need them;∙HM Revenue and Customs will require them;∙potential suppliers may require them;∙you will need to report accurate figures to your stakeholders;∙you will need to identify areas of possible concern; and,∙you will need to investigate and explain variances (under or overspends against your budget).Accounting records will need to be detailed enough for you to be able to say at any one time what the financial position is; ie, how much cash is in the business or the budget? How much do you owe? How much is owed to you? How big is the overdraft (or overspend)? How long could bills be paid for if cash stopped flowing in? What is the profit margin?Financial control will be poor if there are no clear objectives and a lack of knowledge of the basic information necessary to run a business or departmentsuccessfully. A lack of appreciation of the cash needs for a given rate of activity and a tendency to assume that poor results stem from economic conditions or even bad luck will only exacerbate the situation.Accounting centresOne way of delegating financial responsibility is to set up a system of accounting centres. Where businesses make a range of products, putting each into a different accounting centre makes it easier to determine which of the products are profitable. Some costs (eg factory rent) are more difficult to allocate, so may be recorded in a holding account and then split between products. Indirect costs could be allocated by the proportion of sales represented by each product (by volume or cost), by proportion of machine time used, or by some other appropriate method.This split will give an indication of the profitability of each product, but you should beware of ceasing sales of a particular product because of low profit or loss - the costs currently charged to that accounting centre would have to be redistributed among those remaining, so necessitating increased sales of those products.There are four possible levels of financial responsibility with appropriate targets and control requirements:∙revenue centre - staff only have responsibility for income (eg a sales department in a store). Staff have sales targets against which income is measured and compared;∙cost centre - staff have responsibility for keeping costs within set targets, but do not have to worry about where the money comes from (eg an NHS Trust department);∙profit centre - staff have more responsibility and control and will agree targets of profitability and absolute levels of profit (eg a division within a larger company). Control is achieved throughmonitoring performance as measured by the profit and loss account (P&L); they are unable, however, to invest in new equipment; and,∙investment centre - the staff have authority over investments and the use of assets (eg a subsidiary company) although the holding company would typically need to approve major investment. Targetswould focus on return on capital and control would be through monitoring performance measured bythe complete accounts.2 Management Information SystemsIf your financial control is to be effective you need to regularly analyse your actual performance figures and compare them against the financial plan and, perhaps, performance of the business historically.An easy way of comparing actuals and budgets is variance analysis. Usually, only a few figures need to be watched regularly to achieve effective control. Using a computer-based spreadsheet will assist you with all your analysis requirements.Having a suitable management information system (MIS) is a prerequisite for effective monitoring. Although it might sound daunting, an MIS can be extremely simple. An MIS is simply a set of procedures set up by you and your staff to ensure that data about the business is collected, recorded, reported and evaluated quickly and efficiently. That information is then used to check the progress of the business and to control it effectively. For most small businesses, there are likely only to be a few key elements.∙Marketing monitoring - Are you achieving your sales targets, in terms of level of sales and market share? How full is your order book? Are customers paying the right price?∙Production- How does the level of output compare with the level of sales?What is the percentage of rejects? How does the actual cost compare with the standard cost?∙Staff monitoring - Are they being effective? Are they satisfied and motivated?∙Financial control - Are you meeting your financial targets?You will need proper systems in place to ensure that:∙You keep careful track of everything bought by the business, especially if the person ordering is not the person who pays the bills;∙You record everything sold by the business and that everything is properly invoiced, especially if the person doing the selling is not the person who raises the invoices or chases customers for payment;∙There is an effective stock control system which records incoming raw materials and compares them against purchase orders, monitors progress through the production stages (if appropriate) and records the dispatch of finished goods; and,∙All payments and receipts are recorded to ensure that bank balances and overdraft limits are kept within agreed levels.Computerised accounting packages and spreadsheets make it relatively straightforward to record data and present it in an easily understood format. It still requires discipline to ensure that the data is collected, but making an effort will be rewarded through improved understanding of your business.The key to an effective MIS is to ensure that you only monitor a small number of figures and that those figures relate back to the strategic objectives and the operational objectives that you have set for your business. If other people needto see the figures, ensure that they get them speedily. If your system of financial control is to be successful, figures must be quickly available after month end.一个财务管理系统，该系统的改进与成功重点当然，我们并不是说，企业应该忽视对他们的现金抽屉审慎控制。
财务管理的英语介绍
财务管理的英语介绍英文回答：Financial management is the process of planning, organizing, directing, and controlling the financial activities of an organization. It involves the efficient and effective use of financial resources to achieve the organization's goals. Financial management is a critical function in any organization, regardless of its size or industry. It helps organizations to maximize theirfinancial performance and achieve their long-term objectives.The primary goals of financial management are to:Ensure the availability of financial resources to meet the organization's needs.Allocate financial resources efficiently and effectively.Manage financial risks.Maximize the organization's financial performance.Financial management is a complex and multifaceted field. It involves a wide range of activities, including:Financial planning and analysis.Budgeting.Capital budgeting.Cash flow management.Investment management.Credit management.Risk management.Financial managers play a vital role in the success of any organization. They are responsible for making sound financial decisions that help the organization achieve its goals. Financial managers must have a strong understanding of financial principles and practices, as well as a deep understanding of the organization's business.中文回答：财务管理是指规划、组织、指导和控制组织财务活动的过程。
财务管理专业外文翻译资料
The Need of Accounting Standards for Islamic Financial Institutions [Abstract] The accounting and auditing organization for Islamic financial institutions (AAOIFI) hastaken the proper initiative to develop accounting, auditing, governance, ethics, and Shari’ah standards forIslamic Financial Institutions (IFIs). The AAOIFI standards serve as a guideline that may reflect theunique characteristics of IFIs and become a useful tool to meet the various needs of IFIs. Currently, one the major challenges facing Islamic Financial Institutions (IFSs) lies in the preparation of financial statements under different accounting standards and which may result to problem of comparability,reliability and compliance level’s measurement.Implemention of the Islamic Accounting StandardsVinnicombe (2010) argued the extent to which Islamic financial institutions comply with the accounting and governance standards issued by the AAOIFI in their financial reporting. Because Islamic banks operate under vastly different regulatory regimes and political and economic conditions across the globe, the sampled banks were selected from the kingdom of Bahrain. The compliance for the purpose of this study can be defined as the degree to which Islamic financial institutions comply with the multitude of issues in the financial accounting standards (FASs) issued by the AAOIFI. However, the findings of the study indicate high level of compliance with respect to the governance standards relating to the in-house supervisory boards of Islamic banks and reporting the Islamic Murabahah contract. In contrast,compliance with the AAOIFI's requirements regarding the zakah, otherwise called the religious tax, and the Mudarabah contract is relatively low. In addition, a higher number of compliance items are associated with retail as opposed to wholesale banks. However, it should be noted that the samples of the retail bankare more homogeneous and consistent over time compared to those of the wholesale banks.Abdul Rahim (2003) investigated the classification, recognition, measurement, presentation, and disclosure of Sukuk (Islamic bonds) based on the standards required by the AAOIFI. Considering the function of the accounting system to provide the information, the introduction of AAOIFI standards aims to enhance the transparency and comparability of the Islamic banks’ financial statements and provides a descriptive analysis as stipulated in the AAOIFI FAS 17 regarding investment. The conclusion of the study is that, Islamic financial institutions differ from its conventional institutions counterpart, and,therefore, needs an accounting standard that reflects its operation.IntroductionAt present, Islamic banks represent the majority of Islamic Financial Institutions (IFIs), which are spread locally and internationally across both Islamic and non-Islamic countries.The emergence of Islamic banking is due to the increasing demand from Muslims communities worldwide for shariah’s complied Islamic financial products, services, and the variety of modes of Islamic finance. Furthermore, given the rate of growth of the IFIs, the continuous sustainability of the development currently witnessed by Islamic financial institutions needs the Islamic accounting standards, due to the unique characteristics coupled with the growing demand of IFSs’Products statements and reports.Thus, the current standards, which are based on conventional frameworks, seem insufficient to guide the Islamic financial institutions. Currently, the various IFSs institutions apply different accounting standards in their preparation of their accounts due to the absence of Islamic accounting standards (Zaini,2007). The trend towards the accounting and auditing organization for Islamic financial institutions(AAOIFI) standards has become a pressing issue that has generated heated debate in the Organization for Islamic Conference (OIC) countries.Islamic Accounting StandardsIslamic bank transactions as reflected in the financial reporting are prepared under many accounting standards, which pose a threat to the accounting system. Thus, the need for Islamicaccounting standards possesses the potential to ensure a compatible accounting system. This, therefore, has led to the growing aspiration for a financial statement that has the potential to enhance the credibility of financial statements that are in accordance with the Shari’ah ruling and, thus, the need to make the Islamic accounting standards operationalized. Before the implementation of the Islamic accounting standards, such as AAOIFI by Islamic financial institutions, it is necessary to ascertain whether the AAOIFI accounting standards are appropriate and suitable for Islamic banks and whether or not the compliance with the AAOIFI accounting standards may disclose more information to create confidence among investors and the public to invest their money.Therefore, researchers in the area of financial reporting for Islamic financial institutions have conducted a considerable number of studies to investigate the Islamic banks’ compliance to accounting standards. Until recently, one of the main problems facing Islamic banking includes a lack of standardized accounting and auditing standards (Pomeranz, 1997). However, conventional accounting is inappropriate for Muslim users and Islamic organizations (Hameed, 2001), and it is inappropriate to impose unmodified Western accounting practices on developing countries (Karim, 1987). In addition, International Accounting Standards based on such techniques would create difficulties for Muslims around the world.Therefore, it is imperative for the Muslim accountants to develop accounting standards that are specially adapted to Islamic needs and for Muslim countries .Due to the current different regulatory requirements and legislation, the relevance and comparability of financial statements are the foundations upon which accounting standards are predicated. Lovett (2002) documented that with financial statements prepared under different accounting standards, a problem may exist in 1) comparability of financial statements prepared globally, and 2) reliability and creditability.The Need Of Islamic Accounting StandardsThe Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) prepares and issues accounting, auditing, and corporate governance standards, as well as ethics and Shari’ah standards,for Islamic financial institutions. Currently, AAOIFI has published 81 standards, 25 accounting standards,5 auditing standards, 7 governance standards, 2 ethics standardsThe Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), a private standard setting body, was established by the Islamic banks and other interested parties to prepare and promulgate accounting, auditing, and governance standards based on the Shari’ah precepts for Islamic financial institutions (Karim, 2001). The AAOIFI organizations has been recognized and mandated to develop accounting, auditing, governance, and ethics standards that are in line with Shari’ah standards in order to promote comparable, transportable, and reliable accounting information. The formulation and adoption of AAOIFI standards in any country is intended to increase foreign investment, as well as investor’s confidence. These standards are set up to produce financial statements that are transparent in their preparation，the objectives offinancial accounting for Islamic banks and Islamic financial institutions are as follows:To determine the rights and obligations of all interested parties, including those rights and obligations resulting from incomplete transactions and other events in accordance with the principles of Islamic Shari’ah and its concepts of fairness, charity, and compliance with Islamic business values.To contribute to the safeguarding of the Islamic bank’s assets, its rights and the rights of others in an adequate manner.To contribute to the enhancement of the managerial and productive capabilities of the Islamic bank and encourage compliance with its established goals and policies and, above all, compliance with Islamic Shari’ah in all transactions and events.To provide through financial reports useful information to the users of these reports to enable them to make legitimate decisions in their dealings with Islamic banks.In reference to the abjectives, this research has made an attempt to contribute to the current framework and serve as a guide for Islamic financial institutions regarding interest-free transactions through determining the levels of compliance with the AAOIFI accounting standards by Islamic banks.ConclusionThe Adopting or complying with Islamic accounting standards has increasingly become the focus of among Islamic financial institutions. This paper has discussed previous studies about the adoption of accounting standards in developed and developing countries, as well as prior studies on adoption the Islamic accounting, auditing, governance, and Shari’ah standards by Islamic financial institutions and determinants of the extent of levels of compliance with the Islamic accounting standards by Islamic banks.The Islamic accounting standards for Islamic Financial Institutions in accordance with the Shari’ah requirements and the AAOIFI accounting standards may be the best choice for reducing costs and increasing foreign investments and investor's confidence. The objectives of the AAOIFI accounting standards are to prepare and develop accounting, auditing, governance, ethical, and Shari’ah standards relating to the activities of Islamic financial institutions.。
财务管理英语
ACCA--财务管理英语sole proprietorship 独资企业partnership 合伙企业corporate finance 公司财务corporate 公司closely held 私下公司public company 公众公司Goldman Sachs 高盛银行pension fund 养老基金insurance company 保险公司board of director 董事会separation of ownership and management 所有权与管理权的分离limited liability 有限责任articles of incorporation 公司章程real asset 实物资产financial asset 金融资产security 证券financial market 金融市场capital market 资本市场money market 货币市场investment decision 投资决策capital budgeting decision 资本预算决策financing decision 融资决策financial manager 财务经理treasurer 司库controller 总会计师CFO 首席财务官principal-agent problem 委托代理问题principal 委托人agent 代理人agency cost 代理成本information asymmetry 信息不对称signal 信号efficient markets hypothesis 有效市场假说present value 现值discount factor 贴现因子rate of return 收益率discount rate 贴现率hurdle rate 门坎比率opportunity cost of capital 资本机会成本net present value 净现值cash outflow 现金支出net present value rule 净现值法则rate-of-return rule 收益率法则profit maximization 利润最大化doing well 经营盈利doing good 经营造益collateral 抵押品warrant 认股权证convertible bond 可转换债券primary issue 一级发行prinary market 一级市场secondary tansaction 二级交易secondary market 二级市场over-the-counter (OTC) 场外交易financial intermediary 金融中介zero-stage 启动阶段business plan 创业计划书first-stage financing 第一阶段融资after-the-money valuation 注资后的价值paper gain 账面利润mezzanine financing 引渡融资angel investor 天使投资者venture capital fund 创业投资基金limited private partnership 有限合伙企业general partner 普通合伙人limited partner 有限合伙人small-business investment companies（SBIC）小企业投资公司initial public offering (IPO) 首次公开发行primary offering 首次发行secondary offering 二次发行underwriter 承销商syndicate of underwriter 承销辛迪加registration statement 注册说明书prospectus 招股说明书road show 路演greenshoe option 绿鞋期权spread 差价offering price 发售价格underpricing 抑价winner’s curse 成功者灾难bookbuilding 标书登记fixed price offer 定价发售auction 拍卖discrimination auction 差价拍卖uniform-price auction 一价拍卖general cash offer 一般现款发行right issue 附权发行shelf registration 上架注册prior approval 事前许可bought deal 买方交易seasoned issue 新增发行knowledgeable invertor 成熟的投资者qualified institutional buyer 有资格的机构买者record date 登记日with dividend 附有红利cum dividend 附息ex dividend 除息legal capital 法定资本regular cash dividend 正常现金红利extra 额外的special dividend 特别红利stock dividend 股票红利automatic dividend reinvestment plans (DRIP) 红利自动转投计划transfer of value 价值转移capital structure 资本结构MM’s proposition MM定理weighted-average cost of capital (WACC) 加权平均资本成本margin debt 保证金借款floating-rate note 浮动利率票据money-market fund 货币市场基金interest-rate ceiling 利率上限trade-off theory 权衡理论right to default 违约权leverage buy-out (LBO) 杠杆收购asymmetric information 信息不对称financial slack 银根宽松cost of debt 负债成本cost of equity 权益成本terminal value 清算价值cash flow to equity 权益现金流rebalancing 重整project financing 项目融资adjusted cost of capital 调整资本成本equivalent loan 等值贷款offsetting transaction 反向交易depreciable basis 折旧基数adjusted present value (APV) 调整现值call option 看涨期权exercise price 执行价格strike price 敲定价格exercise date 到期日European call 欧式看涨期权American call 美式看涨期权position diagram 头寸图put option 看跌期权Salomon Brothers 所罗门兄弟公司term stucture of interest rate 利率期限结构annuity 年金perpetuity 永久年金annuity factor 年金因子annuity due 即期年金future value 终值conmpound interest 复利simple interest 单利continuously compounded rate 连续复利率Consumer Price Index (CPI) 消费物价指数current dollar 当期货币nominal dollar 名义货币constant dollar 不变货币real dollar 实际货币real rate of return 实际收益率inflation rate 通货膨胀率principal 本金deflation 滞胀yield to maturity 到期收益率market capitalization rate 市场资本化率dividend yield 红利收益率cost of equity capital 权益资本成本payout ratio 红利发放率earnings per share (EPS) 每股收益return on equity (ROE) 权益收益率discount cash flow 贴现现金流growth stock 成长股income stock 绩优股present value of growth opportunity (PVGO) 成长机会的现值price-earnings ratio (P/E) 市盈率free cash flow (FCF) 自由现金流量book rate of return 账面收益率capital investment 资本投资operating expense 经营费用payback period 回收期discounted-payback rule 贴现回收期法则discounted-cash-flow rate of return 贴现现金流量的收益率internal rate of return (IRR) 内部收益率lending 贷出borrowing 借入profitability measure 盈利指标standard of pfofitability 赢利标准modified internal rate of return 修正内部收益率mutually exclusive projects 互相排斥的项目capital rationing 资本约束profitability index 盈利指标soft rationing 软约束hard rationing 硬约束incremental payoff 增量收入net working capital 净营运资本sunk cost 沉没成本sunk-cost fallacy 沉没成本悖论overhead cost 间接费用salvage value 残值straight-line depreciation 直线法折旧Internal Revenue Service 国内税收署tax shield 税盾accelerated cost recovery system 加速成本回收折旧法alternative minimum tax 另类最低税tax preference 税收优惠accelerated depreciation 加速折旧project analysis 项目分析equivalent annual cash flow 等价年度现金流marginal investment 边际投资default risk 违约风险risk premium 风险溢酬standard error 标准误差standard deviation 标准差market portfolio 市场组合market returm (rm) 市场收益率variance 方差the loss of a dgree of freedom 自由度损失Delphic 德尔菲unique risk 独特风险unsystematic risk 非系统风险residual risk 剩余风险specific risk 特定风险diversifiable risk 可分散风险market risk 市场风险systematic risk 系统风险undiversifiable risk 不可分散风险convariance 协方差well-diversified 有效分散value additivity 价值可加性efficient portfolio 有效投资组合quadratic programming 二次规划best efficient portfolio 最佳有效投资组合capital asset pricing model (CAPM) 资本资产定价模型separation theorem 分离定理security market line 证券市场线market capitalization 市场资本总额small-cap stocks 小盘股book-to-market ration 账面-市值比data mining 数据挖掘data snooping 数据侦察consumption beta 消费贝塔consumption CAPM 消费型资本资产定价模型risk aversion 风险厌恶arbitrage pricing theory 套利定价理论sensitivity of each stock to these factors 每种股票对这些因素的敏感度three-factor model 三因素模型company cost of capital 公司资本成本industry beta 行业贝塔firm value 公司价值debt value 负债价值asset value 资产价值blue-chip firm 蓝筹股financial leverage 财务杠杆gearing 举债经营financial risk 财务风险unlever 消除杠杆relative market values of debt (E/V) 负债的相对市场价值taxable income 应税利润after-tax cost 税后成本marginal corporate tax rate 公司边际税率after-tax weighted-average cost of capital 税后加权平均资本成本cyclicality 周期性cyclical firms 周期性公司operating leverage 经营杠杆revenue 收入fixed costs 固定成本variable costs 可变成本rate of output 产出率certainty equivalent 确定性等价值certainty-equivalent cash flow 确定性等价现金流risk-adjusted discount rate 风险相应贴现率underlying variables 基础变量sample 抽样real option 实物期权decision tree 决策树timing qption 安排期权production option 生产性期权option to bail out 清算选择权economic rent 经济租金future market 期货市场capital budget 资本预算strategic planning 战略规划appropriation request 拨款申请postaudit 事后审计stock options 股票期权private benefit 私下利益perks 特权享受perquisite 特权享受overinvestment 过度投资generally accepted accounting principle (GAAP) 公认会计原则qualified doption 保留意见delegated 委托economic value added (EV A) 经济附加值trade loading 贸易超载economic depreciation 经济折旧national income and product accounts 国民收入与产出账户cap 上限合约strip 本息剥离债券swap 互换bookrunner 股份登记员efficient capital market 有效资本市场random walk 随机游走positive drift 正漂移autocorelation coefficient 自相关系数weak form of efficiency 弱有效性semistrong form of efficiency 半强有效性strong form of efficiency 强有效性market model 市场模型acquiring firm 兼并公司acquired firm 被兼并公司superior profit 超常利润overreaction 反应过度underreaction 反应不足index arbitrageur 指数套利者portfolio insurance scheme 证券组合保险策略superior rates of return 超常收益exchange-rate policy 汇率政策application date 申购日long-term asset 长期资产retained earnings 留存收益financial deficit 资金缺口internal fund 内部资金debt policy 负债政策dividend policy 红利政策long-term financing 长期融资total capitalization 资本总额reserve 准备金issued and outsanding 已发行流通股份issued but not outsanding 已发行未流通股份authorized share capital 法定股本总额financial institution 金融机构cash-flow right 现金流要求权control right 控制劝dominant stockholder 控股股东majority voting system 多数投票制cumulative voting 累计投票制supermajority 绝对多数制proxy contest 投票代理权角逐minority stockholder 小股东reverse stock split 逆股票拆细master limited partnership 业主有限责任合伙企业real estate investment trust (REIT) 房地产信托投资基金preferred stock 优先股cumulative preferred stock 红利累积优先股line of credit 授信额度fixed-rate 固定利率floating-rate 浮动利率coupon 息票London Interbank Offered Rate (LIBOR) 伦敦银行间拆借利率eurobond 欧洲债券eurocurrency 欧洲货币euro 欧元senior 优级junior 次级subordinated 从属secured 有担保的collateral 抵押品warrant 认股权证convertible bond 可转换债券primary issue 一级发行prinary market 一级市场secondary tansaction 二级交易secondary market 二级市场over-the-counter (OTC) 场外交易financial intermediary 金融中介zero-stage 启动阶段business plan 创业计划书first-stage financing 第一阶段融资after-the-money valuation 注资后的价值paper gain 账面利润mezzanine financing 引渡融资angel investor 天使投资者venture capital fund 创业投资基金limited private partnership 有限合伙企业general partner 普通合伙人limited partner 有限合伙人small-business investment companies（SBIC）小企业投资公司initial public offering (IPO) 首次公开发行primary offering 首次发行secondary offering 二次发行underwriter 承销商syndicate of underwriter 承销辛迪加registration statement 注册说明书prospectus 招股说明书road show 路演greenshoe option 绿鞋期权spread 差价offering price 发售价格underpricing 抑价winner’s curse 成功者灾难bookbuilding 标书登记fixed price offer 定价发售auction 拍卖discrimination auction 差价拍卖uniform-price auction 一价拍卖general cash offer 一般现款发行right issue 附权发行shelf registration 上架注册prior approval 事前许可bought deal 买方交易seasoned issue 新增发行knowledgeable invertor 成熟的投资者qualified institutional buyer 有资格的机构买者record date 登记日with dividend 附有红利cum dividend 附息ex dividend 除息legal capital 法定资本regular cash dividend 正常现金红利extra 额外的special dividend 特别红利stock dividend 股票红利automatic dividend reinvestment plans (DRIP) 红利自动转投计划transfer of value 价值转移capital structure 资本结构MM’s proposition MM定理weighted-average cost of capital (WACC) 加权平均资本成本margin debt 保证金借款floating-rate note 浮动利率票据money-market fund 货币市场基金interest-rate ceiling 利率上限trade-off theory 权衡理论right to default 违约权leverage buy-out (LBO) 杠杆收购asymmetric information 信息不对称financial slack 银根宽松cost of debt 负债成本cost of equity 权益成本terminal value 清算价值cash flow to equity 权益现金流rebalancing 重整project financing 项目融资adjusted cost of capital 调整资本成本equivalent loan 等值贷款offsetting transaction 反向交易depreciable basis 折旧基数adjusted present value (APV) 调整现值call option 看涨期权exercise price 执行价格strike price 敲定价格exercise date 到期日European call 欧式看涨期权American call 美式看涨期权position diagram 头寸图put option 看跌期权。
财务管理外文文献及翻译2
财务管理外文文献及翻译2附录A:外文文献(译文)跨国公司财务有重大国外经营业务的公司经常被称作跨国公司或多国企业。
跨国公司必须考虑许多并不会对纯粹的国内企业产生直接影响的财务因素，其中包括外币汇率、各国不同的利率、国外经营所用的复杂会计方法、外国税率和外国政府的干涉等。
公司财务的基本原理仍然适用于跨国企业。
与国内企业一样，它们进行的投资项目也必须为股东提供比成本更多的收益，也必须进行财务安排，用尽可能低的成本进行融资。
净现值法则同时适用于国内经营和国外经营，但是，国外经营应用净现值法则时通常更加复杂。
也许跨国财务中最复杂的是外汇问题。
当跨国公司进行资本预算决策或融资决策时，外汇市场能为其提供信息和机会。
外汇、利率和通货膨胀三者的相互关系构成了汇率基本理论。
即:购买力平价理论、利率平价理论和预测理论。
跨国公司融资决策通常要在以下三种基本方法中加以选择，我们将讨论每种方法的优缺点。
(1) 把现金由国内输出用于国外经营业务;(2) 向投资所在国借贷;(3) 向第三国借贷。
1专业术语学习财务的学生通常会听到一个单词总在耳边嗡嗡作响:全球化( g l o b a l i z a t i on )。
学习资金市场的全球化必须首先掌握一些新的术语，以下便是在跨国财务中，还有本章中最常用到的一些术语:(1) 美国存托证(American Depository Receipt,ADR)。
它是在美国发行的一种代表外国股权的证券，它使得外国股票可在美国上市交易。
外国公司运用以美元发行的ADR，来扩大潜在美国投资者群体。
ADR以两种形式代表大约690家外国公司:一是在某个交易所挂牌交易的 ADR，称为公司保荐形式;另一种是非保荐形式，这些ADR通常由投资银行持有并为其做市。
这两种形式的ADR均可由个人投资和买卖，但报纸每天只报告保荐形式的存托证的交易情况。
(2) 交叉汇率(cross rate)。
它是指两种外国货币(通常都不是美元)之间的汇率。
财务管理英文
财务管理英文Introduction:Financial management is an essential aspect of any organization. It involves the management of money coming into the business and going out of the business. Financial managers are responsible for ensuring that an organization's financial resources are allocated appropriately, so as to achieve the organization's goals. In this paper, we will explore the key principles of financial management, discuss the major financial statements, and analyze the importance of financial planning and budgeting.Principles of Financial Management:The principles of financial management can be grouped into three broad categories: capital budgeting, capital structure, and working capital management. Capital budgeting refers to the process of allocating financial resources to long-term projects or investments. Capital structure, on the other hand, is concerned with the mix of long-term financing options used by the organization. Working capital management, finally, deals with the management of short-term assets and liabilities.Capital budgeting:Capital budgeting involves making investment decisions that will generate future cash flows. Essentially, it involves evaluating the potential returns of various investment options and selecting the most profitable investments. Key methods of capital budgeting include net present value (NPV), internal rate of return (IRR), and payback period. With NPV, the focus is on the present valueof future cash flows generated by an investment in relation to the initial investment. IRR, on the other hand, measures the rate of return of an investment, while payback period focuses on the time it takes to recoup the initial investment.Capital structure:The second principle of financial management is capital structure. This refers to the mix of long-term funding or financing options an organization uses to finance its operations. Most organizations use a combination of debt and equity financing. Debt financing involves borrowing money from lenders at a fixed interest rate, while equity financing involves offering investors ownership in the company in exchange for financial contributions. A crucial aspect of capital structure is determining the optimal mix of debt and equity financing that will minimize the company's overall cost of capital.Working capital management:The third principle of financial management is working capital management. This involves managing the day-to-day financial operations of the company, including maintaining an appropriate level of cash and other liquid assets to meet short-term obligations. Effective working capital management allows a company to maintain operations and meet financial obligations in the short term without resorting to high-interest borrowing.Financial Statements:One of the critical functions of financial management is to provide accurate and timely financial information to stakeholders. There are fourmajor financial statements companies use to communicate financial information: the balance sheet, income statement, cash flow statement, and statement of changes in equity.Balance sheet:The balance sheet presents a snapshot of the company's financial position by showing its assets and liabilities at a particular point in time. Assets include cash, buildings, equipment, and inventory, while liabilities include debts and other financial obligations.Income statement:The income statement shows how much revenue the company generated during a specific period and the expenses incurred to generate that revenue. After subtracting the expenses from revenues, the resulting figure represents net income or loss.Cash flow statement:The cash flow statement shows the inflow and outflow of cash during a particular period. It is divided into three categories: operating activities, investing activities, and financing activities.Statement of changes in equity:Finally, the statement of changes in equity shows any activity that affects shareholders' equity during the accounting period.Financial Planning and Budgeting:Financial planning and budgeting are critical components of financial management. Financial planning involves anticipating financial needs and developing a plan to meet them. Budgeting, on the other hand, involves allocating resources to specific activities, taking into account projected revenues and expenses.Benefits of financial planning and budgeting:Effective financial planning and budgeting provide several benefits to organizations. For instance, it helps organizations to prioritize investments, manage cash flow, identify potential risks and opportunities, and measure the success of their operations.Conclusion:In conclusion, financial management plays a critical role in the success of any organization. The principles of financial management include capital budgeting, capital structure, and working capital management. The major financial statements used to communicate financial information include the balance sheet, income statement, cash flow statement, and statement of changes in equity. Finally, financial planning and budgeting are essential components of financial management and enable organizations to prioritize investments, manage cash flow, identify potential risks and opportunities, and measure the success of their operations.。
财务管理专业英语
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1.2.2 Financing Decisions
Does the type of financing used make a difference?
Is the existing capital structure the right one?
How and where should the firm raise money?
(3)
Liabilities and equity (7)
The following information is also available:
Quick ratio = 1.0 time Working capital to sales ratio =
10% Total assets turnover = 2 times Sales = $2 million Debt ratio = 50%
29
1.2.2 Financing Decisions
Should the firm use funds raised through its revenues?
Should the firm raise money from outside the business?
If the firm seeks external financing, should it bring in other owners or borrow the money?
1) Long-term investment decisions
2) Long-term financing decisions 3) Working Capital Management
Decisions
23
1.2.1 Investment Decisions
财务管理中英对照词汇
财务管理英语词汇Financial Management Glossary[ A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X| Y | Z ]AABC存货制度：ABC inventory system Inventory management technique that divides inventory into three groups--A, B, and C, in descending order of importance and level of monitoring, on the basis of the dollar investment in each.偿债能力：Ability to service debts The ability of a firm to make the payments required on a scheduled basis over the life of a debt.同意或否决的方法：Accept-reject Approach The evaluation of capital expenditure proposals to determine whether they meet the firm's minimum acceptance criterion.会计风险：Accounting exposure The risk resulting from the effects of changes in foreign exchange rates on the translated value of a firm's financial statement accounts denominated in a given foreign currency.应付账款管理：Accounts payable management: Management by the firm of the time that elapses between its purchase of raw materials and its mailing payment to the supplier.权责发生制会计：Accrual basis In preparation of financial statements, recognizes revenue at the time of sale and recognizes expenses when they are incurred.应计的费用：Accruals Liabilities for services received for which payment has yet to be made.由自动清算所执行的自动转账：ACH (automated clearinghouse) transfer Preauthorized electronic withdrawal from the payer's account and deposit into the payee's account via a settlement among banks by the automated clearinghouse, or ACH.收购公司：Acquiring company: The firm in a merger transaction that attempts to acquire another firm.经营比率：Activity ratios: Measure the speed with which various accounts are converted into sales or cash--inflows or outflows.代理成本：Agency costs: The costs borne by stockholders to minimize agency problems.积极的筹资战略：Aggressive funding strategy: A funding strategy under which the firm funds its seasonal requirements with short-term debt and its permanent requirements with long-term debt.应收账款账龄分析：Aging of accounts receivable: A credit-monitoring technique that uses a schedule that indicates the percentages of the total accounts receivable balance that have been outstanding for specified periods of time.美国总统证劵托存收据：American depositary receipts (ADRs) : Claims issued by U.S. banks representing ownership of shares of a foreign company's stock held on deposit by the U.S. bank in the foreign market and issued in dollars to U.S. investors.天使资本家: Angel capitalists (angels) : Wealthy individual investors who do not operate as a business but invest in promising early-stage companies in exchange for a portion of the firm's equity.每年债务清理: Annual cleanup: The requirement that for a certain number of days during the year borrowers under a line of credit carry a zero loan balance (that is, owe the bank nothing).年利率: Annual percentage rate (APR) : The nominal annual rate of interest, found by multiplying the periodic rate by the number of periods in 1 year, that must be disclosed to consumers on credit cards and loans as a result of "truth-in-lending laws."年收益率：Annual percentage yield (APY) : The effective annual rate of interest that must be disclosed to consumers by banks on their savings products as a result of "truth-in-savings laws."按年度计算的净现值法：Annualized net present value (ANPV) approach: An approach to evaluating unequal-lived projects that converts the net present value of unequal-lived, mutually exclusive projects into an equivalent annual amount (in NPV terms).年金：Annuity: A stream of equal periodic cash flows, over a specified time period. These cash flows can be inflows of returns earned on investments or outflows of funds invested to earn future returns.即付年金Annuity due: An annuity for which the cash flow occurs at the beginning of each period.合伙契约：Articles of partnership: The written contract used to formally establish a business partnership.转让: Assignment: A voluntary liquidation procedure by which a firm's creditors pass the power to liquidate the firm's assets to an adjustment bureau, a trade association, or a third party, which is designated the assignee.信息不对称: Asymmetric information: The situation in which managers of a firm have more information about operations and future prospects than do investors.授权股份: Authorized shares: The number of shares of common stock that a firm's corporate charter allows it to issue.存货的平均周转期：Average age of inventory: Average number of days' sales in inventory.应收账款的平均收款期: Average collection period: The average amount of time needed to collect accounts receivable.应付账款平均付款期: Average payment period: The average amount of time needed to pay accounts payable.平均税率: Average tax rate: A firm's taxes divided by its taxable income.B资产负债表: Balance sheet: Summary statement of the firm's financial position at a given point in time.破产清算：Bankruptcy: Business failure that occurs when the stated value of a firm's liabilities exceeds the fair market value of its assets.图表法：B ar chart: The simplest type of probability distribution; shows only a limited number of outcomes and associated probabilities for a given event.每股基本盈利: Basic EPS: Earnings per share (EPS) calculated without regard to any contingent securities.基准: Benchmarking: A type of cross-sectional analysis in which the firm's ratio values are compared to those of a key competitor or group of competitors that it wishes to emulate.贝塔系数：Beta coefficient (b): A relative measure of non-diversifiable risk. An index of the degree of movement of an asset's return in response to a change in the market return.一鸟在手理论：Bird-in-the-hand argument: The belief, in support of dividend relevance theory, that investors see current dividends as less risky than future dividends or capital gains.董事会: Board of directors: Group elected by the firm's stockholders and having ultimate authority to guide corporate affairs and make general policy.债券: Bond: Long-term debt instrument used by business and government to raise large sums of money, generally from a diverse group of lenders.债券契约: Bond indenture: A legal document that specifies both the rights of the bondholders and the duties of the issuing corporation.账面价值: Book value: The strict accounting value of an asset, calculated by subtracting its accumulated depreciation from its installed cost.每股账面价值: Book value per share: The amount per share of common stock that would be received if all of the firm's assets were sold for their exact book (accounting) value and the proceeds remaining after paying all liabilities (including preferred stock) were divided among the common stockholders.账面价值加权：Book value weights: Weights that use accounting values to measure the proportion of each type of capital in the firm's financial structure.盈亏临界点分析： Breakeven analysis: Indicates the level of operations necessary to cover all operating costs and the profitability associated with various levels of sales.盈亏临界点现金流量：Breakeven- cash- inflow: The minimum level of cash inflow necessary for a project to be acceptable, that is, NPV > $0.盈亏临界点:Break point: The level of total new financing at which the cost of one of the financing components rises, thereby causing an upward shift in the weighted marginal cost of capital (WMCC).商业风险: Business risk: The risk to the firm of being unable to cover operating costs.C看涨期权: Call option: An option to purchase a specified number of shares of a stock (typically 100) on or before a specified future date at a stated price.提前赎回溢价：Call premium: The amount by which a bond's call price exceeds its par value.赎回价格Call price: The stated price at which a bond may be repurchased, by use of a call feature, prior to maturity.资本：Capital: The long-term funds of a firm; all items on the right-hand side of the firm's balance sheet, excluding current liabilities.资本定价模型：Capital asset pricing model (CAPM) : Describes the relationship between the required return, k s, and the non-diversifiable risk of the firm as measured by the beta coefficient, b.资本预算：Capital budgeting: The process of evaluating and selecting long-term investments that are consistent with the firm's goal of maximizing owner wealth.资本预算过程: Capital budgeting process: Five distinct but interrelated steps: proposal generation, review and analysis, decision- making, implementation, and follow-up.资本性支出:Capital expenditure: An outlay of funds by the firm that is expected to produce benefits over a period of time greater than 1 year.资本收益：C apital gain: The amount by which the sale price of an asset exceeds the asset's initial purchase price.资本市场：Capital market: A market that enables suppliers and demanders of long-term funds to make transactions.资本配额：Capital rationing: The financial situation in which a firm has only a fixed number of dollars available for capital expenditures, and numerous projects compete for these dollars.资本结构：Capital structure: The mix of long-term debt and equity maintained by the firm.资本化租赁: Capitalized lease: A financial (capital) lease that has the present value of all its payments included as an asset and corresponding liability on the firm's balance sheet, as required by Financial Accounting Standards Board (FASB) Standard No. 13. 经营成本: Carrying costs: The variable costs per unit of holding an item in inventory for a specific period of time.收付实现制：Cash basis: Recognizes revenues and expenses only with respect to actual inflows and outflows of cash.现金分红:Cash bonuses: Cash paid to management for achieving certain performance goals.现金预算: Cash budget (cash forecast) : A statement of the firm's planned inflows and outflows of cash that is used to estimate its short-term cash requirements.现金管理中心：Cash concentration: The process used by the firm to bring lockbox and other deposits together into one bank, often called the concentration bank.现金转换周期:C ash conversion cycle (CCC): The amount of time a firm's resources are tied up; calculated by subtracting the average payment period from the operating cycle.现金付款: Cash disbursements: All outlays of cash by the firm during a given financial period.现金折扣: Cash discount: A percentage deduction from the purchase price; available to the credit customer who pays its account within a specified time.现金折扣期: Cash discount period: The number of days after the beginning of the credit period during which the cash discount is available.现金收益: Cash receipts: All of a firm's inflows of cash in a given financial period. 自由浮动：Clearing float: The time between deposit of a payment and when spendable funds become available to the firm.变异系数: Coefficient of variation (CV) : A measure of relative dispersion that is useful in comparing the risks of assets with differing expected returns.商业金融公司: Commercial finance companies: Lending institutions that make only secured loans--both short-term and long-term--to businesses.商业票据: Commercial paper: A form of financing consisting of short-term, unsecured promissory notes issued by firms with a high credit standing.普通股Common stock: The purest and most basic form of corporate ownership. 垂直/同型损益表：Common-size income statement: An income statement in which each item is expressed as a percentage of sales.复利: Compound interest: Interest that is earned on a given deposit and has become part of the principal at the end of a specified period.保守的筹资战略:Conservative funding strategy: A funding strategy under which the firm funds both its seasonal and its permanent requirements with long-term debt.合并：Consolidation: The combination of two or more firms to form a completely new corporation.)连续复利：Continuous compounding: Compounding of interest an infinite number of times per year at intervals of microseconds.连续概率分布:Continuous probability distribution: A probability distribution showing all the possible outcomes and associated probabilities for a given event.控制拨付: Controlled disbursing: The strategic use of mailing points and bank accounts to lengthen mail float and clearing float, respectively.总会计师：Controller: The firm's chief accountant, who is responsible for thefirm's accounting activities, such as corporate accounting, tax management, financial accounting, and cost accounting.传统的现金流模式: Conventional cash flow pattern: An initial outflow followed only by a series of inflows.可转换股票价值: Conversion (or stock) value: The value of a convertible security measured in terms of the market price of the common stock into which it can be converted.转换价格: Conversion price: The per-share price that is effectively paid for common stock as the result of conversion of a convertible security.换股比率:Conversion ratio: The ratio at which a convertible security can be exchanged for common stock.可转换债劵：Convertible bond: A bond that can be changed into a specified number of shares of common stock.可转换优先股：Convertible preferred stock: Preferred stock that can be changed into a specified number of shares of common stock.企业债券: Corporate bond: A long-term debt instrument indicating that a corporation has borrowed a certain amount of money and promises to repay it in the future under clearly defined terms.企业重组: Corporate restructuring: The activities involving expansion or contraction of a firm's operations or changes in its asset or financial (ownership) structure. 企业:Corporation: An artificial being created by law (often called a "legal entity"). 相关:C orrelation: A statistical measure of the relationship between any two series of numbers representing data of any kind.相关系数: Correlation coefficient: A measure of the degree of correlation between two series.资本成本：Cost of capital: The rate of return that a firm must earn on the projects in which it invests to maintain its market value and attract funds.普通股股票成本：Cost of common stock equity, k s: The rate at which investors discount the expected dividends of the firm to determine its share value.长期债务成本：Cost of long-term debt, k i: The after-tax cost today of raising long-term funds through borrowing.发行新的普通股成本：Cost of a new issue of common stock, k n: The cost of common stock, net of under-pricing and associated flotation costs.优先股成本：Cost of preferred stock, k p: The ratio of the preferred stock dividend to the firm's net proceeds from the sale of preferred stock; calculated by dividing the annual dividend, D p, by the net proceeds from the sale of the preferred stock, N p.留存收益成本：Cost of retained earnings, k r: The same as the cost of an equivalent fully subscribed issue of additional common stock, which is equal tothe cost of common stock equity, k s.债券利率：Coupon interest rate: The percentage of a bond's par value that will be paid annually, typically in two equal semiannual payments, as interest.偿债保障比率：Coverage ratios: Ratios that measure the firm's ability to pay certain fixed charges.信贷监控: Credit monitoring: The ongoing review of a firm's accounts receivable to determine whether customers are paying according to the stated credit terms.信用期: Credit period: The number of days after the beginning of the credit perioduntil full payment of the account is due.信用评分: Credit scoring: A credit selection method commonly used with high-volume/small-dollar credit requests; relies on a credit score determined by applying statistically derived weights to a credit applicant's scores on key financial and credit characteristics. (Chapter 14)信用标准:Credit standards: The firm's minimum requirements for extending credit to a customer.信贷条件: Credit terms: The terms of sale for customers who have been extended credit by the firm.债权人控制: Creditor control: An arrangement in which the creditor committee replaces the firm's operating management and operates the firm until all claims have been settled.横向比较分析：Cross-sectional analysis: Comparison of different firms' financial ratios at the same point in time; involves comparing the firm's ratios to those of other firms in its industry or to industry averages累计优先股：Cumulative preferred stock: Preferred stock for which all passed (unpaid) dividends in arrears, along with the current dividend, must be paid before dividends can be paid to common stockholders.流动资产：Current assets: Short-term assets, expected to be converted into cash within 1 year or less.流动负债：Current liabilities: Short-term liabilities, expected to be paid within 1 year or less.现行汇率法：Current rate (translation) method: Technique used by U.S.-based companies to translate their foreign-currency-denominated assets and liabilities into dollars, for consolidation with the parent company's financial statements, using the exchange rate prevailing at the fiscal year ending date (the current rate).流动比率：Current ratio: A measure of liquidity calculated by dividing the firm's current assets by its current liabilities.D债务资本: Debt capital: All long-term borrowing incurred by a firm, including bonds.资产负债率:Debt ratio: Measures the proportion of total assets financed by the firm's creditors.拥有资产所有权的债权人：Debtor in possession (DIP) : The term for a firm that files a reorganization petition and then develops, if feasible, a reorganization plan. 财务杠杆作用程度：Degree of financial leverage (DFL) : The numerical measure of the firm's financial leverage.负债程度：Degree of indebtedness: Measures the amount of debt relative to other significant balance sheet amounts.经营杠杆作用程度：Degree of operating leverage (DOL) : The numerical measure of the firm's operating leverage.全部杠杆作用程度：Degree of total leverage (DTL) : The numerical measure of the firm's total leverage.折旧年限:Depreciable life: Time period over which an asset is depreciated.折旧:Depreciation: The systematic charging of a portion of the costs of fixed assets against annual revenues over time.衍生金融证劵：Derivative security: A security that is neither debt nor equity but derives its value from an underlying asset that is often another security; called "derivatives," for short.稀释的每股盈利：Diluted EPS: Earnings per share (EPS) calculated under the assumption that all contingent securities that would have dilutive effects are converted and exercised and are therefore common stock.稀释股权：Dilution of ownership: Occurs when a new stock issue results in each present shareholder having a claim on a smaller part of the firm's earnings than previously.直接租赁：Direct lease: A lease under which a lessor owns or acquires the assets that are leased to a given lessee.贴现：Discount: The amount by which a bond sells at a value that is less than its par value.贴息贷款:Discount loans: Loans on which interest is paid in advance by being deducted from the amount borrowed.贴现现金流量: Discounting cash flows: The process of finding present values; the inverse of compounding interest.可分散的风险：Diversifiable risk: The portion of an asset's risk that is attributable to firm-specific, random causes; can be eliminated through diversification. Also called unsystematic risk.Divestiture: The selling of some of a firm's assets for various strategic reasons.股利无关论:Dividend irrelevance theory: Miller and Modigliani's theory that in a perfect world, the firm's value is determined solely by the earning power and risk of its assets (investments) and that the manner in which it splits its earnings stream between dividends and internally retained (and reinvested) funds does not affect this value.股利支付率:Dividend payout ratio: Indicates the percentage of each dollar earned that is distributed to the owners in the form of cash. It is calculated by dividing the firm's cash dividend per share by its earnings per share.每股股息:Dividend per share (DPS) : The dollar amount of cash distributed during the period on behalf of each outstanding share of common stock.股利政策: Dividend policy: The firm's plan of action to be followed whenever a dividend decision is made.股利再投资计划:Dividend reinvestment plans (DRIPs) : Plans that enable stockholders to use dividends received on the firm's stock to acquire additional shares--even fractional shares--at little or no transaction cost.股利相关论:D ividend relevance theory: The theory, advanced by Gordon and Lintner, that there is a direct relationship between a firm's dividend policy and its market value.股利: Dividends: Periodic distributions of earnings to the stockholders of a firm. 双重征税: Double taxation: Occurs when the already once-taxed earnings of a corporation are distributed as cash dividends to stockholders, who must pay taxes on them.杜邦公式: DuPont formula: Multiplies the firm's net profit margin by its total asset turnover to calculate the firm's return on total assets (ROA).杜邦分析体系: DuPont system of analysis: System used to dissect the firm's financial statements and to assess its financial condition.E每股盈利:Earnings per share (EPS) : The amount earned during the period on behalf of each outstanding share of common stock, calculated by dividing the period's total earnings available for the firm's common stockholders by the number of shares of common stock outstanding.息税前利润与每股收益分析方法:EBIT-EPS approach: An approach for selecting the capital structure that maximizes earnings per share (EPS) over the expected range of earnings before interest and taxes (EBIT).经济风险：Economic exposure: The risk resulting from the effects of changesin foreign exchange rates on the firm's value.经济订货量(批量)模型: Economic order quantity (EOQ) model: Inventory management technique for determining an item's optimal order size, which is the size that minimizes the total of its order costs and carrying costs.经济增加值：Economic value added (EVA®): A popular measure used by many firms to determine whether an investment contributes positively to the owners' wealth; calculated by subtracting the cost of funds used to finance an investment from its after-tax operating profits.有效(真实)年率:Effective (true) annual rate (EAR) : The annual rate of interest actually paid or earned.实际利率: Effective interest rate: In the international context, the rate equal to the nominal rate plus (or minus) any forecast appreciation (or depreciation) of a foreign currency relative to the currency of the MNC parent.有效市场: Efficient market: A market that allocates funds to their most productive uses as a result of competition among wealth-maximizing investors that determines and publicizes prices that are believed to be close to their true value; a market with the following characteristics: many small investors, all having the same information and expectations with respect to securities; no restrictions on investment, no taxes, and no transaction costs; and rational investors, who view securities similarly and are risk-averse, preferring higher returns and lower risk.有效市场假设：Efficient-market hypothesis: Theory describing the behavior of an assumed "perfect" market in which (1) securities are typically in equilibrium, (2) security prices fully reflect all public information available and react swiftly to new information, and, (3) because stocks are fairly priced, investors need not waste time looking for mis-priced securities.有效组合:Efficient portfolio: A portfolio that maximizes return for a given level of risk or minimizes risk for a given level of return.期末现金Ending cash: The sum of the firm's beginning cash and its net cash flow for the period.股本:Equity capital: The long-term funds provided by the firm's owners, the stockholders.职业道德：Ethics: Standards of conduct or moral judgment.欧元Euro: A single currency adopted on January 1, 1999 by 12 of the 15 EU nations, who switched to a single set of euro bills and coins on January 1, 2002.欧洲债券:Eurobond: An international bond that is sold primarily in countries other than the country of the currency in which the issue is denominated.欧洲债券市场：Eurobond market: The market in which corporations and governments typically issue bonds denominated in dollars and sell them to investors located outside the United States.欧元市场:Eurocurrency market: International equivalent of the domestic money market.欧洲货币市场: Eurocurrency markets: The portion of the Euro-market that provides short-term, foreign-currency financing to subsidiaries of MNCs.欧洲股市:Euro-equity market: The capital market around the world that deals in international equity issues; London has become the center of Euro-equity activity. 欧洲资本市场：Euro-market: The international financial market that provides for borrowing and lending currencies outside their country of origin.欧洲开放市场:European Open Market: The transformation of the European Union into a single market at year-end 1992.欧洲共同体：European Union (EU) : A significant economic force currently made up of 15 nations that permit free trade within the union.除息股利日：Ex dividend: Period, beginning 2 business days prior to the date of record, during which a stock is sold without the right to receive the current dividend.过剩的现金余额:Excess cash balance: The (excess) amount available for investment by the firm if the period's ending cash is greater than the desired minimum cash balance; assumed to be invested in marketable securities.超额累积收益税: Excess earnings accumulation tax: The tax the IRS levies on retained earnings above $250,000 when it determines that the firm hasaccumulated an excess of earnings to allow owners to delay paying ordinary income taxes on dividends received.汇率风险:Exchange rate risk: The danger that an unexpected change in the exchange rate between the dollar and the currency in which a project's cash flows are denominated will reduce the market value of that project's cash flow; the risk caused by varying exchange rates between two currencies.认购(或期权)价格：Exercise (or option) price: The price at which holders of warrants can purchase a specified number of shares of common stock.期望理论:Expectations theory: The theory that the yield curve reflects investor expectations about future interest rates; an increasing inflation expectation results in an upward-sloping yield curve, and a decreasing inflation expectation results in a downward-sloping yield curve .预期回报率: E xpected return, ˆ [[kbar]]: The return that is expected to be earned on a given asset each period over an infinite time horizon.预期回报价值: Expected value of a return (k w) : The most likely return on a given asset.延期支付：Extension: An arrangement whereby the firm's creditors receive payment in full, although not immediately.外部融资需要：External financing required ("plug" figure) : Under the judgmental approach for developing a pro forma balance sheet, the amount of external financing needed to bring the statement into balance.外界预测: External forecast: A sales forecast based on the relationships observed between the firm's sales and certain key external economic indicators.额外红利:Extra dividend: An additional dividend optionally paid by the firm if earnings are higher than normal in a given period.F代理商：Factor: A financial institution that specializes in purchasing accounts receivable from businesses.应收账款让售：Factoring accounts receivable: The outright sale of accounts receivable at a discount to a factor or other financial institution.联邦基金:Federal funds: Loan transactions between commercial banks in which the Federal Reserve banks become involved.理财：Finance: The art and science of managing money.资金租赁:financial (or capital) lease: A longer-term lease than an operating lease that is noncancelable and obligates the lessee to make payments for the use of an asset over a predefined period of time; the total payments over the term of the lease are greater than the lessor's initial cost of the leased asset.财务会计准则委员会：Financial Accounting Standards Board (FASB) : The accounting profession's rule-setting body, which authorizes generally accepted accounting principles (GAAP).盈亏临界点：Financial breakeven point: The level of EBIT necessary to just cover all fixed financial costs; the level of EBIT for which EPS = $0.金融机构: Financial institution: An intermediary that channels the savings of individuals, businesses, and governments into loans or investments.财务杠杆乘数: Financial leverage multiplier (FLM) : The ratio of the firm's total assets to its common stock equity.财务杠杆:F inancial leverage: The potential use of fixed financial costs to magnify the effects of changes in earnings before interest and taxes on the firm's earnings per share.财务经理: Financial manager: Actively manages the financial affairs of any type of business, whether financial or nonfinancial, private or public, large or small, profit-seeking or not-for-profit.金融市场: Financial markets: Forums in which suppliers of funds and demanders of funds can transact business directly.金融合并:Financial merger: A merger transaction undertaken with the goal of restructuring the acquired company to improve its cash flow and unlock its hidden value. 财务规划流程： Financial planning process: Planning that begins with long-term, or strategic, financial plans that in turn guide the formulation of short-term, or operating, plans and budgets.财务风险:Financial risk: The risk to the firm of being unable to cover required financial obligations (interest, lease payments, preferred stock dividends).金融服务业:Financial services: The part of finance concerned with the design and delivery of advice and financial products to individuals, business, and government.。
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财务风险管理尽管近年来金融风险大大增加，但风险和风险管理不是当代的主要问题。
全球市场越来越多的问题是，风险可能来自几千英里以外的与这些事件无关的国外市场。
意味着需要的信息可以在瞬间得到，而其后的市场反应，很快就发生了。
经济气候和市场可能会快速影响外汇汇率变化、利率及大宗商品价格，交易对手会迅速成为一个问题。
因此，重要的一点是要确保金融风险是可以被识别并且管理得当的。
准备是风险管理工作的一个关键组成部分。
什么是风险？风险给机会提供了基础。
风险和暴露的条款让它们在含义上有了细微的差别。
风险是指有损失的可能性，而暴露是可能的损失，尽管他们通常可以互换。
风险起因是由于暴露。
金融市场的暴露影响大多数机构，包括直接或间接的影响。
当一个组织的金融市场暴露，有损失的可能性，但也是一个获利或利润的机会。
金融市场的暴露可以提供战略性或竞争性的利益。
风险损失的可能性事件来自如市场价格的变化。
事件发生的可能性很小，但这可能导致损失率很高，特别麻烦，因为他们往往比预想的要严重得多。
换句话说，可能就是变异的风险回报。
由于它并不总是可能的，或者能满意地把风险消除，在决定如何管理它中了解它是很重要的一步。
识别暴露和风险形式的基础需要相应的财务风险管理策略。
财务风险是如何产生的呢？无数金融性质的交易包括销售和采购，投资和贷款，以及其他各种业务活动，产生了财务风险。
它可以出现在合法的交易中，新项目中，兼并和收购中，债务融资中，能源部分的成本中，或通过管理的活动，利益相关者，竞争者，外国政府，或天气出现。
当金融的价格变化很大，它可以增加成本，降低财政收入，或影响其他有不利影响的盈利能力的组织。
金融波动可能使人们难以规划和预算商品和服务的价格，并分配资金。
有三种金融风险的主要来源：1、金融风险起因于组织所暴露出来的市场价格的变化，如利率、汇率、和大宗商品价格。
2、引起金融风险的行为有与其他组织的交易如供应商、客户，和对方在金融衍生产品中的交易。
3、由于内部行动或失败的组织，特别是人、过程和系统所造成的金融风险。
什么是财务风险管理？财务风险管理是用来处理金融市场中不确定的事情的。
它涉及到一个组织所面临的评估和组织的发展战略、内部管理的优先事项和当政策一致时的财务风险。
企业积极应对金融风险可以使企业成为一个具有竞争优势的组织。
它还确保管理，业务人员，利益相关者，董事会董事在对风险的关键问题达成协议。
金融风险管理组织就必须作出那些不被接受的有关风险的决定。
那些被动不采取行动的战略是在默认情况下接受所有的风险，组织使用各种策略和产品来管理金融风险。
重要的是要了解这些产品和战略方面，通过工作来减少该组织内的风险承受能力和目标范围内的风险。
风险管理的策略往往涉及衍生工具。
在金融机构和有组织的交易所，衍生物广泛地进行交易。
衍生工具的合约的价值，如期货，远期，期权和掉期，是源自相关资产的价格。
衍生物利用利率，汇率，商品，股票和固定收入的证券，信贷，甚至是天气进行交易。
这些产品和市场参与者使用策略来管理金融风险，与由投机者用来提高风险的杠杆作用是相同。
虽然可以认为，衍生工具的广泛使用增加了风险，衍生品的存在使那些希望通过把它传递给那些寻求风险及相关机会的人降低了风险。
估计财务损失的可能性是非常令人满意的。
然而，概率标准的理论往往在金融市场的分析中不适用。
风险通常不会孤立存在的，通常会和几个风险的相互作用，必须认真考虑在发展中国家的金融风险是如何产生的。
有时，这些相互作用是很难预测的，因为它们最终取决于人的行为。
金融风险管理是一个持续不断的过程。
随着市场需求的变化和完善，战略必须得到执行。
有关的修改反映不断变化的市场利率，变化的预期营商环境，或例如不断变化的国际政治条件。
一般来说，这个过程可以概括如下：1、识别并优先考虑关键的财务风险。
2、确定适当的风险容忍程度。
3、按照政策实施风险管理战略。
4、按需要衡量，报告，监控和改进。
多样化多年来，公司资产的风险评价的可变性仅仅基于其回报。
与此形成对比的是,现代投资组合理论不仅考虑了一项资产的风险，而且是经济体总体风险的组合。
由于风险多样化，组织可以有机会来降低风险。
在投资组合管理方面，在一定限度内给个别部件组合提供了多样化的机会。
一个多元化的资产组合中包含的回报是不同的，换句话说，彼此之间的关系是弱或负面的。
考虑到一个投资组合的风险是非常有用的，并且应考虑改变或增加的潜在风险的总数。
多样化是一个管理金融风险的重要工具。
通过预设的组织，对手之间的多样化可以减少突发事件对组织所造成的不利影响而引起的风险。
其中投资资产多元化减少了发行人失败的损失程度。
多样化的客户、供应商和金融来源减少了一个组织的贸易被外面变化控制的负面影响的可能性。
虽然损失的风险仍然存在，多样化的机会可以减少大的不良结果。
风险管理过程金融风险管理过程中的战略使一个组织去管理与金融相关的风险市场。
风险管理是一个动态过程，应逐步发展成一个组织和它的生意。
它涉及和影响了许多方面，包括国债，销售，营销，法律，税务，商品组织和企业融资。
风险管理过程包括内部和外部分析。
该进程的第一部分包括确定和排列金融机构面临的风险和了解其相关性。
有必要审查该组织及其产品，管理，客户，供应商，竞争对手，价格，行业的发展趋势，资产负债结构，并在行业中的地位。
也有必要考虑利益相关者和他们的目标和风险承受能力。
一旦清楚地了解这些风险的出现，就可实施适当的策略会同风险管理政策。
例如，有可能改变的地方，从而减少该组织的暴露和风险。
另外，可能对现有的衍生工具进行风险管理。
另一种经营战略风险是接受所有的风险和损失的可能性。
有三个广泛的风险管理办法：1、什么都不做，在默认情况下，积极或被动地接受一切风险。
2、对冲一部分，通过确定那些可以而且应该进行对冲的风险。
3、所有可能的风险对冲。
风险的计量和报告提供给决策者与信息执行者决定和监测的结果，在它的前面和后面都采取策略来减轻。
由于风险管理进程仍在进行，报告和反馈可以用来精化系统的修改或改进策略体系。
活跃的决策过程是风险管理的重要组成部分。
讨论潜在的损失和为降低风险的决策提供了一个讨论重要问题与各种关于利益相关者的观点的场所。
财务比率的影响因素和价格。
财务比率及价格受多项因素的影响，关键是要了解影响市场的因素，因为这些因素，反过来影响到一个组织的潜在风险。
影响利率的因素利率是许多市场价格的主要组成部分和重要的经济晴雨表。
它们是由真实利率加上通货膨胀的预期成分组成的，因为通货膨胀降低了贷款人的资产购买力。
离到期日越近，它的不确定性就越大。
利率也是资金的供给和需求和信贷风险的反射。
利率对企业和政府来说是非常重要的，因为他们是资金成本的关键因素。
大多数公司和政府债务融资需要扩展和基建项目。
当利率增加，对借款人有显著的影响。
利率也影响到其他金融市场的价格，所以他们的影响是深远的。
对利率的其他组件可能包括一个风险溢价，以反映借款人的信用。
例如，政治或主权风险的威胁可能导致利率上升，有时很大，因为随着投资者需求的增加，额外的补偿违约风险也会增加。
Financial Risk ManagementAlthough financial risk has increased significantly in recent years, risk and risk management are not contemporary issues. The result of increasingly global markets is that risk may originate with events thousands of miles away that have nothing to do with the domestic market. Information is available instantaneously, which means that change, and subsequent market reactions, occur very quickly. The economic climate and markets can be affected very quickly by changes in exchange rates, interest rates, and commodity prices. Counterparties can rapidly become problematic. As a result, it is important to ensure financial risks are identified and managed appropriately. Preparation is a key component of risk management.What Is Risk?Risk provides the basis for opportunity. The terms risk and exposure have subtle differences in their meaning. Risk refers to the probability of loss, while exposure is the possibility of loss, although they are often used interchangeably. Risk arises as a result of exposure.Exposure to financial markets affects most organizations, either directly or indirectly. When an organization has financial market exposure, there is a possibility of loss but also an opportunity for gain or profit. Financial market exposure may provide strategic or competitive benefits.Risk is the likelihood of losses resulting from events such as changes in market prices. Events with a low probability ofoccurring, but that may result in a high loss, are particularly troublesome because they are often not anticipated. Put another way, risk is the probable variability of returns.Since it is not always possible or desirable to eliminate risk, understanding it is an important step in determining how to manage it. Identifying exposures and risks forms the basis for an appropriate financial risk management strategy.How Does Financial Risk?Financial risk arises through countless transactions of a financial nature, including sales and purchases, investments and loans, and various other business activities. It can arise as a result of legal transactions, new projects, mergers and acquisitions, debt financing, the energy component of costs, or through the activities of management, stakeholders, competitors, foreign governments, or weather. When financial prices change dramatically, it can increase costs, reduce revenues, or otherwise adversely impact the profitability of an organization. Financial fluctuations may make it more difficult to plan and budget, price goods and services, and allocate capital.There are three main sources of financial risk:。