The Balance Sheet and Notes to the Financial Statements
Life's balance sheet
Unfortunately, many people just
In addition, subsequently, that derived more assets and liabilities, such as happiness, passion, harmony, and intimacy; or, such as upset, fear, confusion, and conflict. Many times we also need to give up some freedom and self-sacrifice.
However, assets and liabilities always closely associated with each other.
Is money everything???
What is ignored except money?
There are many kinds of assets, but
Some people might have another original asset——brothers
or sisters. Corresponding to this debt is called care.
Our current asset and liability
Friends
The current assets brought by them is mutual help, teaching, encouragement, comfort , praise, criticism, guide,
中级财务会计英文版(PPT 94页)
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Chapter 3-15
Statement of Changes in Stockholders’ Equity
Investments and funds
Intangibles
Noncurrent Assets
Property, Plant, & Equipment
Chapter 3-10
Deferred Charges
Balance Sheet Format
Liability Classifications
4. Classify the assets of a balance sheet.
5. Classify the liabilities of a balance sheet.
6. Report the stockholders’ equity of a balance sheet.
7. Understand the concepts of income.
Basic Accounting Identity
A = L + OE
电大商务英语4作业册阅读判断
电⼤商务英语4作业册阅读判断标题：For Tips for Becoming a Franchisee⾸末句：If you want tb become a franchisee,the rips....Be focusd om your preference.....1.Decide om a business with....will look like (T)2.Before you've ditermined what role you want....business(f)3.Before signingon to a .....experience (t)4.The first thing to look at is .....pruchase.(f)5.To make sure that....wath that.(f)形考⼆标题：Three Americans Win Nobel Economics Prize in 2013⾸末句：The Royal Swedish Academy of Sciences awarded the Nobel Prize in economics to three Americans。
but was established in his memory by Sweden's central bank in 1968.1. The Royal Swedish Academy of Sciences awarded the Nobel Prize in electronics to three Americans on Oct. 14, 2013. F2. Eugene Fama, Lars Peter Hansen and Robert Shiller won the prize for their research and explanations of pricing forces in financial markets. T3. Eugene Fama's research on financial markets in the 1960s resulted in some change in how market watchers look at investing. T4. The findings of both economists have led to the growth of price prediction, investing many different securities as a way to reduce risk. F5. The Nobel Prize in economics was established in memory of Alfred Nobel by Sweden's central bank in 1968. T形考三标题：The Feel Good Factor in Customer Service⾸末句：A challenge in working in customer service is to。
财务报表分析外文附录
Increased along with the development of the economy, capital operation, rich measures, also more and more people into the financial sector, participate in the economic operation. The listed company financial statement analysis also plays a more and more important role. Boss to users of financial statements of the company are: the shareholders of listed companies), including institutional investors and individual investors, listed companies, lenders (such as Banks), goods or services suppliers, company management, customers, employees, government management departments such as the tax bureau, industrial and commercial bureau and the SFC, the public and competitors, etc. These people and institutions make up the company's alleged interest group, as a result of these financial statements users at different levels of economic relations with the enterprise, their demand for the company's financial information is different also. The listed company financial information this year by the unprecedented attention.The basic building blocks of financial reports of listed companies(1) the basic financial statements: the basic financial statements include balance sheet, income statement and statement of cash flows.The balance sheet is one of the basic financial statements, it is based on \"assets = liabilities + owner's equity\" balance, reflecting enterprise in a certain date have economic resources and its source.Income statement reflects a certain accounting period financial reports, Chen it offers companies within the monthly, quarterly or annual net profit or loss situation, the formation of the relationship between the income statement each available \"income - cost = profit\" to sum up;In a certain accounting period cash flow statement is to reflect enterprise operating activities, investing activities and financing activities of cash inflows and cash outflows of statements.(2) schedule: refers to the basic financial statements of some major projects added in the report.(3) the notes to financial statements and financial fact sheetNotes to financial statements is mainly in the form of words and Numbers of basic financial statements and other help to understand the content of the financial statements of related matters, including basic accounting policy and the use of main skip-level method, etc.Second, the basic method of financial analysisBasic methods of financial analysis method are many, there are comparative analysis method, ratio analysis, trend analysis, etc.Comparative analysis is comparing the indicators of will contact each other, to determine the differences between them, to evaluate financial activities is good or bad. This is one of the most commonly used in financial analysis method. Comparison of commonly used forms are: current actual number compared with YuSuanShu, execution of budget in order to check the inspection schedule and results, determine the complete assessment of how well the budget. This period compared with the early, in order to understand dynamic and changing trend of financial indicators, further found that the potential and the problem; Company compare with other same industry company, the value of a company is relative, so around the company financial statement analysis is relative.Ratio analysis is to use two indicators of some kind of relationship, through calculating the ratio to consider, calculation and evaluation of company's financial position, operating results and cash flow analysis method. Rate is expressed in multiples or proportion score type.Trend analysis is comparing financial indicators in different periods to determine the difference and change trend analysis method. In a certain sense, it is combine comparative analysis and ratio analysis using a method.Three, debt paying ability analysisEnterprise debt paying ability is to reflect the important sign of enterprise financial position and operating ability, debt paying ability is the enterprise to repay maturingdebt to bear ability or ensure degree, including the ability to repay short-term and long-term debt. In general, corporate debt repayment pressure mainly has the following two aspects: one is general debt repayment of principal and interest, including long-term loans payable, bonds payable, long-term accounts payable, and a variety of short-term debt settlement, etc.; 2 it is rigid various taxes payable, the enterprise must pay.(1) current ratioLiquidity ratio is the ratio of current assets to current liabilities. Formula for the liquidity ratio * 100% = current assets/current liabilities. This ratio is enterprise by current assets to repay the current liabilities ability evaluation indicators, explain enterprise each yuan current liabilities have how much liquid assets can be used as a payment guarantee, it is generally believed that current ratio is 2:1 for most of the enterprises is more appropriate ratio.(2) the quick ratioDeduct stock quick ratio is current assets divided by current liabilities ratio, due to the liquidity of inventory liquidation the slowest, or for some reason some inventory may have scrap processing or has not been made part of the inventory has been mortgaged to a creditor, in addition, the inventory valuation, there are cost and reasonable factors of the market price difference, so put in the total inventories from current assets minus and compute the quick ratio reflects the short-term debt paying ability is more credible. It is generally believed that the quick ratio 1:1 is considered to be reasonable, it shows that enterprise each have 1 yuan 1 yuan current liabilities quick assets (that is, cash or approximate cash assets) to do guarantee.(3) the asset-liability ratioAsset-liability ratio = 100% * total liabilities/total assets, total liabilities and total assets is the proportion of relations, asset-liability ratio reflects how much in total assets ratio is raised by borrowing, also can measure business in to protect the interests of the creditors in the event of liquidation. This indicator reflects theproportion of total capital provided by the creditors. The index also referred to as the leverage ratio. Look from shareholder's position, when all the capital profit rate higher than the loan interest rate, debt ratio is bigger, the better, otherwise the opposite. (4) property rightsEquity ratio is measure of long-term solvency of one of the indicators. This metric is the ratio of total liabilities and total shareholders' equity, also known as debt equity ratio. The index reflecting the capital provided by the creditors and shareholders to provide capital to the relative relations, reflect the enterprise financial structure is stable.Fourth, enterprise profitability analysisProfitability as a business marketing ability, ability to collect cash and reduce the cost of ability and the synthesis ability of the risk aversion etc, reflect the enterprise profitability index, usually from production and business operation business profitability, assets profitability analysis.(1) operating marginOperating margin is a business operating margin amount and the ratio of net income. Its computation formula is as follows: business gross margin = 100% operating margin amount business net income / *. This index is mainly reflect the main business of commodity production and business profitability. Unit of income the higher the gross margin, offset the spending ability is stronger; On the contrary, the lower the profitability. In general compared with peers, gross profit margin is low, the cost is on the high side.(2) total assets return rateReturn on total assets is total profit and total interest payments and the average total assets ratio, used to measure the company using the total assets profit ability. Return on total assets = (gross profit + interest payments)/average total assets * 100%, higher than the bank loan interest rate and the social average profit margin, state has total assets of the company profitability.(3) the business indexIt reflects the business activities net cash flow and net profit. Computation formula is: business index = / net operating cash flow. The indicator directly reflect the quality of the earnings, the company how many of each yuan net profit actually received the cash. In general, the greater the ratio, the higher the earnings quality. If the ratio is less than 1, existing in current net profit unrealized cash income. In this case, even though corporate profits, also may be cash shortage, serious will be led to the bankruptcy of enterprises.Five, the cash flow analysisThe amount of cash flows is a financial enterprise cash flow amount, is the floorboard of the cash inflow and outflow of financial enterprises. Cash inflows, is refers to the financial enterprise in a certain period of time from various kinds of economic business in the amount of cash. Cash inflows minus the difference between the cash outflow, called the net cash flow.(1) the cash flow analysisSome companies will manipulate the cash flow statement through exchanges. Through transactions between listed companies and its largest shareholder money to improve the original ugly operating cash flow. Original affiliate account funds often has the financing nature, but the borrower is not as a short-term loan or borrow for a long time, but in other payables accounting, lenders do not as a creditor's rights, but in the other receivables accounts. Changes in other payable, receivable amount at the time of prepare a statement of cash flows as business activities generated cash flow, but essentially these changes reflect the financing, investment, business activities. So when the other payable, receivable changes is the increase of cash flow, operating activities net cash flow generated by the may be overstated.(2) the cash dividend distribution of listed companiesCash dividend distribution has a strong information content. Financially sound company tends to continuous distribution better cash dividend, there are some listedcompanies while the paper profits, but profits are false, bad financial situation, generally can't often cash dividend distribution.(3) the \"cash flow\" which reflect the problemCash flow per share and per share after tax profit should be complementary to each other, some listed companies have better after-tax profit targets, but cash flow is insufficient, this was the result of typical link exchange, also appeared some listed companies in year by selling assets and cash flow is increased, this also is not necessarily a good thing.。
商务英语常用缩略词词汇表大全
商务英语常用缩略词词汇表大全商务英语常用缩略词词汇表大全 a accepted 承兑 A.C.V actual cash value 实际现金价值 AA Auditing Administration (中国)审计署 a.d., a/d after date 开票后、出票后ADRS asset depreciation range system 固定AAA 最佳等级资产分组折旧法abs. abstract 摘要BA bank acceptance 银行承兑汇票 a/c, A/C account 帐户、帐目bal. balance 余额、差额 a/c, A/C account current 往来帐户、活期存款帐户 banky. bankruptcy 破产、倒闭Bat battery 电池 A&C addenda and corrigenda 补遗和勘误Acc. acceptance or accepted 承兑 b.b. bearer bond 不记名债券B.B., B/B bill book 出纳簿 Accrd.Int accrued interest 应计利息Acct. account 帐户、帐目 B/B bill bought 买入票据、买入汇票 Acct. accountant 会计师、会计员 b&b bed & breakfast 住宿费和早餐费 Acct. accounting 会计、会计学 b.c. blind copy 密送的副本 Acct.No. account number 帐户编号、帐号 BC buyer credit 买方信贷B/C bills for collection 托收汇票 Acct.Tit. account title 帐户名称、会计科目ACN air consignment 航空托运单 B.C. bank clearing 银行清算 a/c no. account number 帐户编号、帐号 b/d brought down 转下页 Acpt. acceptance or accepted 承兑 Bd. bond 债券A/CS Pay. accounts payable 应付帐款 B/D bills discounted 已贴现票据A/CS Rec. accounts receivable 应收帐款 B/D bank draft 银行汇票b.d.i. both dates inclusive, both days ACT advance corporation tax 预扣公司税inclusive 包括头尾两天 ACU Asia Currency Unit 亚洲货币单位BOOM build-operate-own-maintain 建造-运营B/E bill of entry 报关单拥有-维护 -b.e., B/E bill of exchange 汇票BOOT build-operate-own- transfer 建造-运营BEP breakeven point 保本点、盈亏临界点 -拥有-转让b/f brought forward 承前 b.o.p. balance of payments 收支差额 BF bonded factory 保税工厂 BOT balance of trade 贸易余额 Bfcy. Beneficiary 受益人 BOY beginning of year 年初 B/G, b/g bonded goods 保税货物 b.p., B/P bills payable 应付票据 BHC Bank Holding Company 银行控股公司 Br. branch 分支机构BIS Bank of International Settlements 国际BR bank rate 银行贴现率清算银行b.r., B/R bills receivable 应收票据 bit binary digit 两位数Brok. broker or brokerage 经纪人或经纪人佣Bk. bank 银行金Bk. book 帐册 b.s., BS, B/S balance sheet 资产负债表 b.l., B/L bill of lading 提货单 B/S bill of sales 卖据、出货单 B/L original bill of lading original 提货B share B share B 股单正本B.T.T. bank telegraphic transfer 银行电汇 bldg. building 大厦BV book value 票面价值 BMP bank master policy 银行统一保险D degree; draft 度、汇票 BN bank note 钞票D/A deposit account 存款帐户 BO branch office 分支营业处D/A document against acceptance 承兑交单 BO buyer\'s option 买者选择交割期的远期合d/a days after acceptance 承兑后......日(付同款)BOM beginning of month 月初D. A. debit advice 欠款报单 b.o.m. bill of materials 用料清单D. B day book 日记帐、流水帐 BOO build-operate-own 建造-运营-拥有DB method declining balance (depreciation) DJTA Dow Jones Transportation Average 道-method 递减余额折旧法琼斯运输平均数D. C. F. method discounted cash flow method 现DJUA Dow Jones Utility Average 道-琼斯公用事业平均数金流量贴现法D/D documentary draft 跟单汇票 DK Don\'t know 不知道 D. D.; D/D demand draft 即期汇票 DL direct loan 直接贷款 D/d; d/d days after date 出票后......日(付DL discretionary limit 无条件限制款)DLD deadline date 最后时限 d. d. dry dock 干船坞Dls. ; Dol(s); Doll(s) dollars 元 DDB method double declining balanceDM Deutsche Mark; D-mark; Deutschmark; 德(depreciation) method 双倍递减余额折旧法国马克D. D. D deadline delivery date 交易最后日期DMCs developing member countries 发展中国def. deficit 赤字、亏损家dem. demurrage 滞期费 DN date number 日期号Depr. depreciation 折旧 DN; D/N debit note 借记通知单 d. f; D. F.; d. frt. dead freight 空舱费 DNR do not reduce 不减少 D. G dangerous goods危险货物 do.; dto. ditto 同上、同前 diff. difference 差额 D/O delivery order 发货单 Dis. discount 折扣、贴现 Doc(s) documents 凭证、单据、文件dish\'d; dishd dishonored 不名誉、拒付 doc. att. documents attached 附单据、附件 D. I. T double income-tax(relief) 双重所得Doc. code document code 凭证(单据)编号税(免征)D. O. G. days of grace 宽限日数 div.; divd dividend 红利、股息DOR date of request 要求日 D-J Dow Jones & Co. 美国道-琼斯公司DP; D/P document against payment 交单付款 DJIA Dow Jones Industrial Average (StockDPI disposable personal income 个人可支配收Index) 道-琼斯工业股票指数入DPOB date and place of birth 出生时间和地fad. free delivery (discharge, dispatch) 免费送货点DPP damp proofing 防潮的 F. A. F. free at factory 工厂交货FAIA Fellow of the Association of Dr. debit 借记、借方International Accountants 国际会计协会会员 D. R.; DR discount rate贴现率、折扣率F. A. Q fair average quality (货品)中等平Dr debtor 债务人均质量DR deposit receipt 存单、存款收据 F. A. S. free alongside ship 发运地船边交货价dr. drawer 借方FASB Financial Accounting Standards BoardsDS; d/s days after sight(days\' sight) 见票财务会计标准委员会后.......日(付款)FAT fixed asset transfer 固定资产转移 ds.; d\'s days 日FAT factory acceptance test 工厂验收试验 f feet 英尺FB foreign bank 外国银行 F dealt in flat 无息交易的F. B. E. foreign bill of exchange 外国汇票 f. following (page) 接下页F. C. fixed capital 固定资本 f. fairs 定期集市F. C. fixed charges 固定费用 F. A. face amount 票面金额F. C. future contract 远期合同 F. A. fixed assets 固定资产fc. franc 法郎F. A freight agent 货运代理行FCA Fellow of the Institute of CharteredFA free alongside 启运港船边交货 Accountants 特许会计师学会会员 FABB Fellow of the British Association of FCG foreign currency guarantee 外币担保 Accountants and Auditors 英国会计师和审计师协会会员 FCL full container load 整货柜装载 FAC facility 设施、设备FCL/LCL full container load/less (than)fullcontainer load 整装/分卸 f.a.c. fast as can 尽快FCR forwarder\'s cargo receipt 货运代理行收FACT factor analysis chart technique 因素分据析图解法FCT forwarding agent\'s certificate of FMV fair market value 合理市价 transport 货运代理行领货证FO free out 包括卸货费在内的运费 fd. fund 资金fo. folio 对折、页码 FDB method fixed rate on declining balance FOB free on board (启运港)船上交货、离岸method 定率递减余额折旧法价格FDI foreign direct investment 外商直接投资FOB airport FOB airport (启运)机场交货(价) FDIC Federal Deposit Insurance CorporationFOBST free on board stowed and trimming 包括联邦储蓄保险公司清理及平仓的离岸价格FE foreign exchange 外汇F.O.C. free of charge 免费 FE future exchange 远期外汇FOCUS Financial and Operations CombinedUniform Single Report 财务经营综合报告 FF French franc 法国法郎fib free into barge 驳船上的交货价 FOK fill or kill 要么买进或卖出，要么取消 FIBC financial institution buyer credit FOR free on rail (or road) 铁路或(公路)上交货价 policy 金融机构买方信贷险FIFO first in, first out 先进先出法 for\'d., fwd forward; forwarded 转递 fin. stadg.(stndg.) financial standing 资信FOREX foreign exchange 外汇状况FOS free on steamer 蒸汽船上交货(价) fin. stat. (F/S) financial statement 财务报FOUO for official use only 仅用于公事表FOW, f. o. w. free on wagon (启运站)火车fin.yr. financial year 财政年度上交货(价)FINA following items not available 以下项目FOX Futures and Options Exchange 期货和期权不可获得交易所FIO free in and out 自由进出FP floating policy 浮动政策 F. I. T free of income tax 免交所得税FP fully paid 已全付的 fl. florin 盾FRA forward rate agreement 远期利率协议 FLG finance lease guarantee 金融租赁担保FRCD floating rate certificate of deposit 浮flt. flat 无利息动利率存单frt., frgt. forward 期货、远期合约 G. A. general agent 总代理商、总代理人 free case no charge for case 免费事例 GA go ahead 办理、可行 FREF fixed rate export finance 固定利率出口GAAP general Accepted Accounting Principles融资通用会计准则frt. & grat. freight and gratuity 运费及酬GAAS Generally Accepted Auditing Standard 通金用审计标准GAC General Administration of Customs 海关总Frt. fwd freight forward 运费待付署Frt. ppd freight prepaid 运费已付gal., gall gallon 加仑 FS final settlement 最后结算gas. gasoline 汽油FSR feasibility study report 可行性研究报告GATT General Agreement on Tariffs andFTW free trade wharf 码头交易 Trade 关税及贸易总协定 FTZ free trade zone 自由贸易区 GCL government concessional loan 政府优惠贷款fut. futures 期货、将来GDP gross domestic product 国内生产总值 FV face value 面值gds. goods 商品、货物 FVA fair value accounting 合理价值法GJ general journal 普通日记帐 FWD forward (exchange) contract 远期合约GL general ledger 总分类帐 F.X. foreign exchange 外汇gm. gram(s) 克FX broker foreign exchange broker 外汇经纪人GMP graduated payment mortgage 递增付款按揭 fxd fixed 固定的GND gross national demand 国民总需求 FXRN fixed rate note 定息票据GNE gross national expeditures 国民支出总额 FY fiscal year (financial year) 财政(务)年度 GNP gross national product 国民生产总值 fy. pd. fully paid 全部付讫 GOFO gold forward rate 黄金远期利率 FYI for your information 供您参考GP gross profit 毛利g gallon; grain; gram (s); gold 加仑;格令;GPP general purchasing power 总购买能力克; 金HSCPI Hang Seng Consumer Price Index 恒生消gr. (grs.) wt. gross weight 毛重费价格指数GR gross revenue 毛收入HSI Hang Seng Index 恒生指数 GS gross sales 销售总额hwevr. however 无论如何 GSP generalised system of preferences 普惠制 Hz hertz 赫兹GTM good this month 本月有效 I. A. intangible assets 无形资产 GTW good this week 本星期有效 I & A inventory and allocations 库存和分配IAS International Accounting Standard 国际HAB house air bill 航空托运单会计标准HAWB house air waybill 航空托运单IB investment banking 投资银行(业) HCA historical cost accounting 历史成本会计I. B. invoice book 发票簿 hdqrs. headquarters 总部IBA International Bank Association 国际银hg. hectogram 一百公克行家协会HIBOR Hong Kong Interbank Offered Rate 香港IBBR interbank bid rate 银行间报价利率银行同业拆借利率I. B. I invoice book inward 购货发票簿 hifo highest-in, first-out 高入先出法IBNR incurred but not reported 已发生未报告 H. in D. C. holder in due course 正当持票人I. B. O. invoice book outward 销货发票簿 Hi-Q high quality 高质量IBOR inter-bank offered rate 银行间的拆借利HIRCS high interest rate currencies 高利率货率币ICB international competitive bidding 国际竞hi-tech high technology 高技术标HKD Hong Kong dollar 香港元 ICIA International Credit Insurance Association 国际信用保险协会 HKI Hong Kong Index 香港指数ICJ International Court of Justice 国际法庭 hl. hectoliter 百升ICM international capital market 国际资本市hldg. holding 控股场Hon'd honored 如期支付的ICONs index currency option notes 指数货币incldg. including 包含期权票据inl. haul inland haulage 内陆运输费用 ICOR incremental capital-output ratio 资本-INLO in lieu of 代替产出增量比Ins, ins. insurance 保险 I. C. U. International Code Used 国际使用的电码inst. instant 即期、分期付款 IDB industrial development bond 工业发展债券Instal., instal. installment 分期付款 IDB Inter-American Development Bank 泛美开发Int., int. interest 利息银行inv., Inv. invoice 发票、付款通知 IDB inter-dealer broker 交易商之间经纪人in trans (I. T.) in transit. 在(运输)途中 IDC intangible development cost 无形开发成本inv.doc./attach. invoice with documentattached 附提货单的发票 IDR international depositary receipt 国际寄存单据Inv\'t., invt. inventory 存货 IE indirect export 间接出口I-O input-output 输入--输出 I. F. insufficient fund 存款不足IOU I owe you 借据IFB invitation for bids 招标邀请IOV inter-office voucher 内部传票 I. G. imperial gallon 英制加仑IPN industrial promissory note 工业汇票 IL, I/L import licence 进口许可证IPO initial public offering 首次发售股票 ILC irrevocable letter of credit 不可撤销信IQ import quota 进口配额用证IR Inland Revenue 国内税收 IMF International Monetary Fund 国际货币基金组织 I. R. inward remittance 汇入款项 imp. import 进口，输入 IRA individual retirement account 个人退休金帐户 Inc. incorporated 注册(有限)公司IRA interest rate agreement 利率协议 incl. inclusive 包括在内IRR interest rate risk 利率风险 incldd. included 已包含在内IRR internal rate of return 内部收益率irred. irredeemable 不可赎回的 kv kilovolt 千伏 IRS interest rate swap 利率调期 kw kilowatt 千瓦 IS International System 公制度量衡 KWH kilowatt-hour 千瓦小时 ISIC International Standard Industrial L listed (securities) (证券)上市 Classification 国际标准产业分类L., (Led.) ledger 分类帐 IT information technology 信息技术L. lira 里拉IT international tolerance 国际允许误差L. liter 公升I/T income tax 所得税L. A. (L/A) letter of authority 授权书 ITC investment tax credit 投资税收抵免L. A. liquid assets 流动资产 ITO International Trade Organization 国际贸L. B. letter book 书信备查簿易组织LB licensed bank 许可银行 ITS intermarket trading system 跨市场交易系统lb pound 磅 IV investment value 投资价值LC (L/C) letter of credit 信用证 J., Jour. journal 日记帐LCL/FCL less than container load/fullcontainer load 拼装/整拆 J. A. (J/A) joint account 联合(共管)帐簿LCL/LCL less than container load/less than J. D. B. journal day-book 分类日记帐container load 拼装/拼拆 J/F, j/f journal folio 日记帐页数L.& D. loans and discounts 放款及贴现 J. V. joint venture 合资经营企业L&D loss and damage 损失和损坏 J. V. journal voucher 分录凭单ldg. loading 装(卸)货 JVC joint venture company 合资公司L/F ledger folio 分类帐页数 K. D. knocked down 拆散LG letter of guarantee 保函 K. D. knocked down price 成交价格Li. liability 负债 kg kilogram 千克LI letter of interest (intent) 意向书 kilom. kilometer 千米lifo (LIFO) last in, first out 后进先出法L. I. P. (LIP) life insurance policy 人寿保M/C marginal credit 信贷限额险单m/c metallic currency 金属货币 LIRCs low interest rate currencies 低利率货MCA mutual currency account 共同货币帐户币MCP mixed credit program 混合信贷计划 L/M list of materials 材料清单M/d months after deposit 出票后......月 LMT local mean time 当地标准时间M. D. maturity date 到期日 LRP limited recourse project 有限追索项目M. D. (M/D) memorandum of deposit 存款(放)LRPF limited recourse project financing 有限单追索项目融资M. D. malicious damage 恶意损坏 l. s. lump sum 一次付款总额mdse. merchandise 商品 l. s. t. local standard time 当地标准时间MEI marginal efficiency of investment 投资的LT long term 长期边际效率Ltd. limited 有限(公司)mem. memorandum 备忘录 m million 百万MERM multilateral exchange rate model 多边汇M matured bond 到期的债券率模型M mega- 百万 M. F. mutual funds 共同基金 M milli- 千分之一 MF mezzanine financing 过渡融资 m. meter, mile 米、英里 mfg. manufacturing 制造的 M&A merger & acquisition 兼并收购 MFN most favoured nations 最惠国 MA my account 本人帐户 mfrs. manufacturers 制造商 Mat. maturity 到期日 mg milligram 毫克 Max., max maximum 最大量 M/I marine insurance 海险M. B. memorandum book 备忘录 micro one millionth part 百万分之一 MBB mortgage-backed bonds 抵押支持的债券 min minimum 最低值、最小量 MBO management by objectives 目标管理 MIP monthly investment plan 月度投资计划MRO maintenance, repair and operation 维护、Mk mark 马克修理及操作mks. marks 商标MRP manufacturer\'s recommended price 厂商mkt. market 市场推荐价格MLR minimum lending rate 最低贷款利率 MRP material requirement planning 原料需求计划MLTG medium-and-long-term guarantee 中长期担保 MRP monthly report of progress 进度月报 M. M. money market 货币市场 MRR maintenance, repair and replace 维护、修理和替换mm millimeter 毫米M/s months of sight 见票后.......月 MMDA money market deposit account 货币市场存款帐户 msg message 留言MMI major market index 主要市场指数 MT medium term 中期 MNC multinational corporation 跨(多)国公M/T mail transfer 信汇司mthly monthly 每月 MNE multinational enterprise 跨国公司MTI medium-term insurance 中期保险 MO (M. O.) money order 汇票MTN medium-term note 中期票据 mo. month 月MTU metric unit 米制单位 MOS management operating system 经营管理制度o order 订单Mos. months 月o. (O.) offer 发盘、报价 MP market price 市价OA open account 赊帐、往来帐 M/P months after payment 付款后......月o/a on account of 记入......帐户 MPC marginal propensity to consume 边际消费倾向 o. a. overall 全面的、综合的OAAS operational accounting and analysis Mrge.(mtg. ) mortgage 抵押system 经营会计分析制 MRJ materials requisition journal 领料日记帐 OB other budgetary 其他预算O. B. ordinary business 普通业务O. B. (O/B) order book 订货簿 OS out of stock 无现货 OB/OS index overbought/oversold index 超买O/s outstanding 未清偿、未收回的超卖指数O. T. overtime 加班 OBV on-balance volume 持平数量法OTC over-the -counter market 市场外交易市场 o. c. over charge 收费过多OVA overhead variance analysis 间接费用差异分析 OC open cover 预约保险o/d, o. d.,(O. D.) overdrawn 透支 OW offer wanted 寻购启示OWE optimum working efficiency 最佳工作效OD overdraft 透支率O/d on demand 见票即付oz ounce(s) 盎司 O. E. (o. e. ) omission excepted 遗漏除外ozws. otherwise 否则 O. F. ocean freight 海运费p penny; pence; per 便士;便士;每 OFC open for cover 预约保险P paid this year 该年(红利)已付 O. G. ordinary goods 中等品p. pint 品托(1/8加仑) O. G. L. Open General License 不限额进口许P.A. particular average; power of attorney 单可证损;委托书独海OI original issue 原始发行P.A. personal account; private account 个OII overseas investment insurance 海外投资人账户、私人账户保险p.a., per ann. per annum 每年 ok. all correct 全部正确P&A professional and administrative 职业的o. m. s. output per manshift 每人每班产量和管理的O. P. old price 原价格 P&I clause protection and indemnityclause 保障与赔偿条款 O. P. open policy 不定额保险单P&L profit and loss 盈亏，损益 opp opposite 对方P/A payment of arrival 货到付款 opt. optional 可选择的P/C price catalog; price current 价格目录;ord. ordinary 普通的现行价格P.P.I. policy proof of interest 凭保证单证P/E price/earning 市盈率明的保险利益P/H pier-to-house 从码头到仓库POE port of entry 报关港口 P/N promissory note 期票，本票POP advertising point-of-purchaseP/P posted price (股票等)的牌价 advertising 购物点广告 PAC put and call 卖出和买入期权 POR pay on return 收益 pat. patent 专利 PR payment received 付款收讫 PAYE pay as you earn 所得税预扣法 PS postscript 又及PAYE pay as you enter 进入时支付 PV par value; present value 面值;现值PBT profit before taxation 税前利润 q. quarto 四开，四开本 pc piece; prices 片，块;价格 Q. quantity 数量pcl. parcel 包裹 QB qualified buyers 合格的购买者 pd paid 已付 QC quality control 质量控制 per pro. per procurationem (拉丁)由...代QI quarterly index 季度指数理qr. quarter 四分之一，一刻钟 PF project finance 项目融资QT questioned trade 有问题交易 PFD preferred stock 优先股QTIB Qualified Terminal Interest Propertypk peck 配克(1/4蒲式耳) Trust 附带可终止权益的财产信托 PMO postal money order 邮政汇票 quad. quadruplicate 一式四份中的一份 P.O.C. port of call 寄航港，停靠地 quotn. quotation 报价 P.O.D. place of delivery 交货地点 q.v. quod vide (which see) 参阅 P.O.D. port of destination; port of discharge q.y. query 查核目的港;卸货港R option not traded 没有进行交易的期权 P.O.R. payable on receipt 货到付款R. response; registered; return 答复;已注册;P.P. payback period (投资的)回收期收益r. rate; rupee; ruble 比率;卢比;卢布RAD research and development 研究和开发 REP import replacement 进口替代REP Office representative office 代办处，代RAM diverse annuity mortgage 逆向年金抵押表处RAN revenue anticipation note 收入预期债券REPO, repu, RP Repurchase Agreement 再回购R&A rail and air 铁路及航空运输协议R&D research and development 研究与开发 req. requisition 要货单，请求 R&T rail and truck 铁路及卡车运输 REVOLVER revolving letter of credit 循环信用证R&W rail and water 铁路及水路运输REWR read and write 读和写 R/A refer to acceptor 洽询(汇票)承兑人RIEs recognized investment exchanges 认可R/D refer to drawer (银行)洽询出票人的投资交易(所)RB regular budget 经常预算 Rl roll 卷RCA relative comparative advantage 相对比较RLB restricted license bank 有限制牌照银行优势RM remittance 汇款RCMM registered competitive market maker 注册的竞争市场自营商 rm room 房间rcvd. received 已收到 RMB RENMINBI 人民币，中国货币 r.d. running days=consecutive days 连续日 RMS Royal Mail Steamer 皇家邮轮 RDTC registered deposit taking company 注册RMSD Royal Mail Special Delivery 皇家邮政专接受存款公司递Re. subject 主题 RMT Rail and Maritime Transport Union 铁路海运联盟re. with reference to 关于ROA return on asset 资产回报率 RECEIVED B/L received for shipment bill of lading 待装云提单 ROC return on capital 资本收益率 REER real effective exchange rate 实效汇率 ROE return on equity 股本回报率 ref. referee; reference; refer(red) 仲裁者;ROI return on investment 投资收益裁判;参考;呈递ROP registered option principal 记名期权本REO real estate owned 拥有的不动产金ro-ro roll-on/roll-off vessel 滚装船 SA semi-annual payment 半年支付ROS return on sales 销售收益率 SA South Africa 南非RPB Recognized Professional Body 认可职业(投SAA special arbitrage account 特别套作账户资)机构SAB special assessment bond 特别估价债券 RPI retail price index 零售物价指数sae stamped addressed envelope 已贴邮票、写RPM resale price maintenance 零售价格维持措好地址的信封施(计划)SAFE State Administration of Foreignrpt. repeat 重复 Exchange 国家外汇管理局SAIC State Administration for Industry and RRP Reverse Repurchase Agreement 逆回购协议Commerce (中国)国家工商行政管理局 RSL rate sensitive liability 利率敏感性债务SAP Statement of Auditing Procedure 《审计程RSVP please reply 请回复序汇编》RT Royalty Trust 特权信托 SAR Special Administrative Region 特别行政区 RTM registered trade mark 注册商标 SAS Statement of Auditing Standard 《审计准则汇编》Rto ratio 比率SASE self-addressed stamped envelope 邮资RTO round trip operation 往返作业已付有回邮地址的信封RTS rate of technical substitution 技术替SAT (China) State Administration of Taxation代率 (中国)国家税务局RTW right to work 工作权利 SATCOM satellite communication 卫星通讯RUF revolving underwriting facility 循环式包SB short bill 短期国库券;短期汇票销安排SB sales book; saving bond; savings bank 售RYL referring to your letter 参照你方来信货簿;储蓄债券;储蓄银行 RYT referring to your telex 参照你方电传 SBC Swiss Bank Corp. 瑞士银行公司 S no option offered 无期权出售 SBIC Small Business InvestmentCorporation 小企业投资公司 S split or stock divided 拆股或股息SBIP small business insurance policy 小型企S signed 已签字业保险单s second; shilling 秒;第二;先令SBLI Savings Bank Life Insurance 储蓄银行人SEATO Southeast Asia Treaty Organization 东南亚公约组织寿保险SBN Standard Book Number 标准图书号 sec second(ary); secretary 第二，次级;秘书 SC sales contract 销售合同 t time; temperature 时间;温度sc scilicet namely 即 T. ton; tare 吨;包装重量，皮重TA telegraphic address=cable address 电报挂SC supplier credit 卖方信贷号SCF supplier credit finance 卖方信贷融资TA total asset 全部资产，资产 Sch schilling (奥地利)先令TA trade acceptance 商业承兑票据 SCIRR special CIRR 特别商业参考利率TA transfer agent 过户转账代理人 SCL security characteristic line 证券特征TAB tax anticipation bill (美国)预期抵税线国库券SCORE special claim on residual equity 对剩TACPF tied aid capital projects fund 援助联余财产净值的特别要求权系的资本项目基金SD standard deduction 标准扣除额TAF tied aid financing 援助性融资 SDB special district bond 特区债券TAL traffic and accident loss (保险)交通SDBL sight draft, bill of lading attached 即和意外事故损失期汇票，附带提货单TAT truck-air-truck 陆空联运 SDH synchronous digital hierarchy 同步数字系TB treasury bond, treasury bill 国库券，国库统债券SDR straight discount rate 直线贴现率T.B. trial balance 试算表 SDRs special drawing rights 特别提款权t.b.a. to be advised; to be agreed; to beSE shareholders' equity 股东产权 announced; to be arranged 待通知;待同意;待宣布;待安排SE Stock Exchange 股票交易所t.b.d. to be determined 待(决定) SEA Single European Act 《单一欧洲法案》TBD policy to be declared policy 预保单，待SEAF Stock Exchange Automatic Exchange 报保险单Facility 股票交易所自动交易措施TBL through bill of lading 联运提单，直达提TESSA Tax Exempt Special Savings Account 免税特别储蓄帐户单TBV trust borrower vehicle 信托借款人工具(公TEU twenty-foot-equipment unit (货柜、集装箱)20英尺当量单位司)TBW Thompson Bankwatch, a rating agent 托马TF trade finance 贸易融资逊银行评估公司t.f. till forbid 直到取消为止 TC tariff circular 关税通报tgm. telegram 电报TC telegraph collation 校对电报three T's type, terms, technique 交易三要素，T.C. traveler's check 旅行支票即交易类型，交易条件，销售技术thro., thru. through 经由，通过 TCI trade credit insurance 贸易信用保险TCIC technical credit insurance consultants Thu. Thursday 星期四技术信用保险顾问TIP to insure promptness 确保迅速 TCM traditional Chinese medicine 中国传统医TIR carnet Transports Internationaux Routier 学，中医(法国)国际公路运输证TD time deposit 定期存款U, U. unit; United 单位;联合的;联合(公司) TD Treasury Department (美国)财政部U.K./Cont. United Kingdom or Continent 英国TDA Trade Development Authority 贸易发展当局或欧洲大陆(港口)TDC technical development corporation 技术开U.L.C.C. ultra large crude carrier 超大型油发公司轮TDC Trade Development Council (香港)贸易u/c. undercharge 不足的价钱，少讨的价钱发展局U/W, UW underwriters 保险公司，承销人 TDR Treasury Deposit Receipt 国库券存据Uberrimae fidei of the utmost good faith 最Tech technical 技术的诚信的Tel. telephone number 电话号码 UBS Union Bank of Switzerland 瑞士联合银行 telecom telecommunications 通讯 UGT, ugt urgent (电报用语)急电，加急 temp temperature; temporary (secretary) 温UIT Unit Investment Trust 单位投资信托度;临时(秘书)Ull. ullage 缺量，损耗Ultra vires beyond the powers of 超过......VE value engineering 价值工程的权限(有限公司)Veep Vice president 副总裁 undelvd. undelivered 未装运的VER voluntary export restraint 自愿出口限制 unkwn. unknown. 未知的Ves. vessel 船舶UNSYM unsymmetrical 不对称的via. through, by way of 经由，通过 UPC Uniform Practice Code 《统一作法法典》vid vide (see) (拉丁)参看，请看 ur. your 你的VIP Very Important Person 贵宾 USD United States dollar 美元vis major (拉丁)不可抗力 USIT Unit Share Investment Trust 单位股投资viz. videlicet, namely (拉丁)即，也就是信托VL value line investment survey 价值线投资概UT universal time 世界标准时间，格林威治时间览法UV under voltage; ultraviolet 电压不足;紫外V-mail video-mail 声像电子邮讯系统线VOD video on demand 交互电视技术系统 v refer to 参见vol. volume 量，额，本，卷，容积 v., vs versus (拉丁)对voy. voyage 航海，航程 V Roman 5; victory; volt (罗马数字)5;胜利;(电压)伏VQA vendor quality assurance 售主质量保证 V.A. value analysis 价值分析VQC vendor quality certification 售主质量确认 VAB vertical assembly building 垂直装配建筑物VQD vendor quality defect 售主质量缺陷 vac vacation 假期VRM variable rate mortgage 可变利率抵押 vac. vacant (职位)空缺，(旅馆、公寓)空VS/N vendor serial number 售主系列号房间VSI vendor shipping instruction 售主船运说VAT value added tax 增值税明VC Vice Chairman; Vice Chancellor; Vice ConsulVSO Voluntary Service Overseas 海外义务服副主席;副首相;副总理;副领事务VD volume deleted 勾销的数量VSQ very special quality 特级质量VSSP vendor standard settlement program 售WCO World Customs Organization 世界海关组织主标准程序结算WD when distributed (股票)发售时交割 VTC Voting Trust Certificate 股东投票权信托wd. warrented (品质)保证的证书wdth. width 广度，宽度 VTP vendor test program 售主检测计划Wed Wednesday 星期三 VTR video tape record 录像带录像WEF World Economic Forum 世界经济论坛 W weight ton; winter mark for load line; won 重量吨;(船舶)冬季装载线标记;(韩国)元W.E.T. Western European Time 西欧时间，即格林尼治时间 W., w. warehouse; watt; weight; width; week 仓库;瓦特;钟量;宽;星期wf. wharf 码头W.A. with average 水渍险，保单独海损险WFOE wholly foreign owned enterprises 外资独资企业 W.A.C.C.C. Worldwide Air Cargo Commodity Classfication 全球空运商品分类W.G., w.g. weight guaranteed 保证质量 W.A.I.O.P. W.A. irrespective of percentageWH watt-hour 每小时瓦特单独海损不计免赔率，单独海损全赔WHO World Health Organization 世界卫生组织 WAEC West African Economic Community 西非经济共同体whs, whse. warehouse 仓库 WAG wagon 卡车whsle wholesale 批发WAN Wide Area Networks 泛区网络WI when issued (股票)发行时交割 WASH Washington; washer 华盛顿;洗衣机WIP work in progress=goods in progress 在制品 WB, W.B. waybill 运送单wk week; work 星期;工作 WB World Bank 世界银行Wky. weekly 每星期的，周刊 W.B. water ballast (以)水压载，水压舱wmk watermark 水印 W.B.S. without benefit to/of salvage 不享有获救财产的利益Wmk. water mark 水位标记 w.c., W.C. without charge; water closet 免费;WOC without compensation 无补偿洗手间WP weather permitting; word processing 天气WCG working capital guarantee 流动资金担保允许;文字处理X Roman 10; a kiss; an unknown number, thing, W.P. without prejudice 不损害(当事人)权利name, etc. (罗马数字)10;一吻;未知数(物、W.P.A. with particular average=with average 名等等)水渍险X. ten; X; out of 十;X;在外 W.P.M. words per minute (电传)每分钟字数x.a. ex all 无所有权益 W.P.P. waterproof paper packing 防潮纸包装x.b., xb; XB ex bonus; extra budgetary 不附W.R. war risk 战争险 (本期)红利;预算外的 W.R.=W.W. warehouse receipt=warehouse warrant X.C., X. cp. ex coupon 无息债券仓单，仓库收据x.d. ex distribution 不包括(下期股息或红利)Wrap worldwide receivables assurance 分配protection 全球应收账款担保措施X-Dis ex-distribution 无分销 WT warrant (股票)认证股X. d., X. div. ex dividend 未付红利 WT watertight (包、盒)不漏水的，防水的X-efficiency X效率 WT, W/T wireless telegraphy, wireless telephone 无线电报;无线电话 XI, X. in, X. int. ex interest 利息除外 wt., wgt. weight 重量 XL extra large; extra long 特大;特长 WTO World Trade Organization 世界贸易组织 Xm., X'mas Christmas 圣诞节X-mark a signature "X"符号签字(盲人或受伤W/Tax withholding tax 预扣税的人可以画"X"作为签字) WW warehouse warrant; with warrants 仓库保证;附认股权 Xn Christian 基督的w/w wall-to-wall 覆盖全部地面的(地毯) XN, XW ex-warrant 除证 W/W warehouse-to-warehouse 仓至仓 X.n., X. new ex new 无权要求新股 W/W clause warehouse-to-warehouse clause 仓X.P. expres paye=extra message paid 额外通至仓条款讯费付讫;已令函奉上www worldwide web 万维网，全球计算机网 XR, x.r. ex -right 无优惠权认购新股，除权 X ten dollars (美国俚语)10美元 XS extra small 特小 X ex-interest 无利息 Xtry. extraordinary 非常的，临时的XXX international emergency signal 国际紧急ZIP code 邮政编码信号Z. P. G. zero population growth 人口零增长Y ex-dividend and sales in full 不计红利，全ZR zero coupon issue 零息发行数出售zswk this week 本周 Y Yen 元(日本货币单位)ZT zone time 区时 Y Yuan 元(中国货币单位)Z-Time Zebra time=GMT 格林威治时间 y yard; year; yen 码(三英尺);年;日元 Y.A.R. York-Antwerp Rules 约克-安特卫普规则(海险)YB, yrbk yearbook 年报，年鉴y'day, yest. yesterday 昨天YLD yield 收益YOB year of birth 出生年份YOD year of death 死亡年份YOM year of marriage 结婚年份yo-yo stock "悠悠"股票(波动大、不稳定的高价特种股票)yr year; your 年;你的YTB yield to broker 经济商收益YTC yield to (first) call 至通知赎回时收益 YTM yield to maturity 全期收益，到期收益 z zero; zone 零;区ZBA zero bracket amount 零基数预算法 ZBB zero-based budgeting 零基数预算法，免税金额，免征点ZDD zero defect program 无缺陷计划。
Notes to the Financial Statements
15 151134 341.GENERALThe Company is a public limited company incorporated in the Cayman Islands under the Companies Law (Revised) Chapter 22 of the Cayman Islands as an exempted company with its shares listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). Its ultimate holding company isChampion Technology Holdings Limited (“Champion”), a company which was originally incorporated in the Cayman Islands but subsequently re-domiciled to Bermuda, and its shares are also listed on the Stock Exchange.The Company is an investment holding company. Its subsidiaries areprincipally engaged in sales of general systems products, provision of services and software licensing, leasing of systems products and investments in e-commerce projects.2.ADOPTION OF NEW AND REVISED STATEMENTS OF STANDARD ACCOUNTING PRACTICEIn the current year, the Group has adopted for the first time a number of new and revised Statements of Standard Accounting Practice (“SSAP”s) issued by the Hong Kong Society of Accountants. The adoption of these SSAPs has resulted in a change in the format of presentation of the consolidated cash flow statement and the introduction of the consolidated statement of changes in equity.Cash flow statementsIn the current year, the Group has adopted SSAP 15 (Revised) “Cash flow statements”. Under SSAP 15 (Revised), cash flows are classified under three headings – operating, investing and financing, rather than the previous five headings. Interest received and paid, which were previously presented under a separate heading, are classified as investing and financing cash flows respectively. Cash flows arising from taxes on income are classified asoperating activities, unless they can be separately identified with investing or financing activities.Foreign currenciesSSAP 11 (Revised) “Foreign currency translation” has eliminated the choice of translating the income statements of subsidiaries outside Hong Kong at the closing rate for the period which was previously followed by the Group. They are now required to be translated at an average rate. This change inaccounting policy has not had any material effect on the results for the current or prior accounting periods.Employee benefitsIn the current year, the Group has adopted SSAP 34 “Employee benefits”,which introduces measurement rules for employee benefits, including retirement benefit schemes. The principal effect of the implementation of SSAP 34 is in connection with the recognition of costs for the Group’s defined benefit pension scheme. In prior periods, the expected costs of providing pensions under the Group’s pension scheme are charged to the income statement over the periods benefiting from the services of employees at a level percentage of pensionable salary.For the year ended 30 June 2003Notes to the Financial Statements2.ADOPTION OF NEW AND REVISED STATEMENTS OF STANDARD ACCOUNTING PRACTICE – Continued Employee benefits – ContinuedUnder SSAP 34, the cost of providing retirement benefits under the Group’s defined benefit retirement benefit plan is determined using the projected unit credit method, with actuarial valuation being carried out annually. Actuarial gains and losses which exceed 10% of the greater of the present value of the Group’s pension obligations and fair value of plan assets are amortised over the expected average remaining working lives of the employees participating in the plan. Past service cost is recognised immediately to the extent that the benefits are already vested.As a result of the changes described above, the Group has determined the transitional liability for its defined benefit plan at the date of adoption of SSAP 34 was HK$71,879,000 (of which HK$66,306,000 arose in prior year) more than the liability that would have been recognised at the same date using the previous accounting policy. This amount has been recognised immediately,with an adjustment of approximately HK$71,413,000 and HK$466,000 to the opening balances of accumulated profits and translation reserve at 1 July 2002respectively. The change in policy has resulted in a decrease in the net profit for the year ended 30 June 2002 amounted to HK$65,840,000.3.SIGNIFICANT ACCOUNTING POLICIESThe financial statements have been prepared under the historical costconvention and in accordance with accounting principles generally accepted in Hong Kong. The principal accounting policies adopted are as follows:Basis of consolidationThe consolidated financial statements incorporate the financial statements of the Group made up to 30 June each year.The results of subsidiaries acquired or disposed of during the year are included in the consolidated income statement from the effective dates of acquisition or up to the effective date of disposal, as appropriate.All significant inter-company transactions and balances within the Group have been eliminated on consolidation.GoodwillGoodwill represents the excess of the cost of acquisition over the Group’s interest in the fair value of the identifiable assets and liabilities of a subsidiary at the date of acquisition.Goodwill arising on acquisition prior to 1 July 2001 continues to be held in reserves and will be charged to the income statement at the time of disposal of the relevant subsidiary, or at such time as the goodwill is determined to be impaired.Goodwill arising on acquisition after 1 July 2001 is capitalised and amortised on a straight line basis over its economic useful life. Goodwill arising on the acquisition of subsidiaries is presented separately in the balance sheet.34 10%34 71,879,000 66,306,000 71,413,000 466,000 65,840,000For the year ended 30 June 2003Notes to the Financial Statements3.SIGNIFICANT ACCOUNTING POLICIES – Continued Revenue recognitionSales of goods are recognised when goods are delivered and title has been passed.Service income is recognised when the services are rendered.Income from licensing is recognised when the relevant licensing agreements are formally concluded.Rental income, including rental invoiced in advance from assets underoperating leases, is recognised on a straight line basis over the relevant lease term.Income from certain e-commerce projects where the Group is contracted to receive a pre-determined minimum sum over the period of the projects is allocated to accounting periods so as to reflect a constant periodic rate ofreturn on the net investment in these e-commerce projects. Income from other e-commerce projects are recognised when the Group’s right to receive the distributions has been established.Interest income is accrued on a time basis by reference to the principal outstanding and at the interest rate applicable.Dividend income is recognised when the Group’s right to receive payment has been established.Property, plant and equipmentProperty, plant and equipment are stated at cost less depreciation and amortisation and any accumulated impairment losses.Depreciation and amortisation are provided to write off the cost of property,plant and equipment over their estimated useful lives, using the straight line method, at the following rates per annum:Freehold landNilLeasehold land and buildings Over the shorter of the remaining unexpired terms of the relevant leases or 50 years Plant and machinery and10% – 50%telecommunications networksAssets held under finance leases are depreciated over their estimated useful lives on the same basis as owned assets, or the terms of the leases, where shorter.The gain or loss arising from disposal or retirement of an asset is determined as the difference between the sale proceeds and the carrying amount of the asset and is recognised in the income statement.50 10%-50%3.SIGNIFICANT ACCOUNTING POLICIES – ContinuedLeasesLeases are classified as finance leases when the terms of the lease transfer substantially all the risks and rewards of ownership of the assets concerned to the Group. Assets held under finance leases are capitalised at their fair values at the date of acquisition. The corresponding liability to the lessor, net ofinterest charges, is included in the balance sheet as a finance lease obligation of the Group. The finance costs, which represent the difference between the total leasing commitments and the fair value of the assets acquired, arecharged to the income statement over the period of the relevant lease so as to produce a constant periodic rate of charge on the remaining balance of the obligations for each accounting period.All other leases are classified as operating leases and the rentals payable are charged to the income statement on a straight line basis over the relevant lease term.Investments in subsidiariesInvestments in subsidiaries are included in the balance sheet of the Company at carrying value, less any identified impairment loss. Results of subsidiaries are accounted for by the Company on the basis of dividends received or receivable during the year.Systems and networksSystems and networks are stated at cost less amortisation and any accumulated impairment losses.Systems and networks represent all direct costs incurred by the Group in setting up systems and networks, including the cost of equipment,development cost and subcontracting expenditure. Such assets are recognised only if all of the following conditions are met:–an asset is created that can be identified (such as software and new processes);–it is probable that the asset created will generate future economic benefits; and–the development cost of the asset can be measured reliably.Development cost that cannot fullfil the above conditions is recognised as anexpense in the period in which it is incurred. Systems and networks that fullfil the above conditions are amortised on a straight line basis over their estimated useful lives, subject to a maximum of five years.For the year ended 30 June 2003Notes to the Financial Statements3.SIGNIFICANT ACCOUNTING POLICIES – Continued Investments in e-commerce projectsInvestments in e-commerce projects are stated at cost less amortisation and any accumulated impairment losses.Investments in e-commerce projects represent the Group’s investment costs incurred on internet-based business projects over which the Group receives distributions from these projects based on an agreed percentage of the net revenue of each project or a pre-determined guaranteed return over a fixed period of time. Payments receivables each year for projects with pre-determined guaranteed return are apportioned between income andreduction of the carrying value of the investments so as to reflect a constant periodic rate of return on the net investment in these e-commerce projects.The investment costs of other projects are written off using the straight line method over the estimated life of the individual project from the date ofcommencement of commercial operations subject to a maximum of five years.Where the estimated recoverable amount of these investments falls below their carrying amount, the carrying amount of the investments, to the extent that it is considered to be irrecoverable, is written off immediately to the income statement.Investments in securitiesInvestments in securities are recognised on a trade-date basis and are initially measured at cost.Investments other than held-to-maturity debt securities are classified as investment securities and other investments.Investment securities, which are securities held for an identified long term strategic purpose, are measured at subsequent reporting dates at cost, as reduced by any identified impairment loss.Other investments are measured at fair value, with unrealised gains and losses included in the net profit or loss for the year.InventoriesInventories are stated at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method.TaxationThe charge for taxation is based on the results for the year after adjusting for items which are non-assessable or disallowed. Certain items of income and expense are recognised for tax purposes in a different accounting period from that in which they are recognised in the financial statements. The tax effect of the resulting timing differences, computed using the liability method, isrecognised as deferred taxation in the financial statements to the extent that it is probable that a liability or an asset will crystallise in the foreseeable future.ImpairmentAt each balance sheet date, the Group reviews the carrying amounts of its assets to determine whether there is any indication that those assets havesuffered an impairment loss. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised as an expense immediately.3.SIGNIFICANT ACCOUNTING POLICIES – Continued Impairment – ContinuedWhere an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, so that the increased carrying amount does not exceed the carrying amount thatwould have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.Research and development costsResearch costs are charged to the income statement in the year in which they are incurred. Development costs are charged to the income statement in the year in which it is incurred except where a major project is undertaken and it is reasonably anticipated that development costs will be recovered through future commercial activity. Such development costs are deferred and written off over the life of the project from the date of commencement of commercial operation subject to a maximum of five years.Foreign currenciesTransactions in foreign currencies are translated at the approximate rates ruling on the dates of the transactions. Monetary assets and liabilitiesdenominated in foreign currencies are re-translated at the rates ruling on the balance sheet date. Gains and losses arising on exchange are dealt with in the income statement.In preparing the consolidated financial statements, the results of operations outside Hong Kong are translated using the average exchange rates for the year. The assets and liabilities of the operations outside Hong Kong aretranslated using the rates ruling on the balance sheet date. On consolidation,any differences arising on translation of operations outside Hong Kong are dealt with in the translation reserve.Retirement benefit costPayments to the Group’s defined contribution retirement benefit schemes are charged as expenses as they fall due.For the Group’s defined benefit retirement benefit schemes, the cost ofproviding benefits is determined using the projected unit credit method, with actuarial valuation being carried out at each balance sheet date. Actuarial gains and losses which exceed 10% of the greater of the present value of the Group’s pension obligations and the fair value of scheme assets are amortised over the expected average remaining working lives of the participatingemployees. Past service cost is recognised immediately to the extent that the benefits are already vested, and otherwise is amortised on a straight line basis over the average period until the amended benefits become vested.The amount recognised in the balance sheet represents the present value of the defined benefit obligation as adjusted for unrecognised actuarial gains and losses and unrecognised past service cost, and as reduced by the fair value of scheme assets.4.TURNOVER AND SEGMENT INFORMATIONTurnover represents the net amounts received and receivable for goods sold and services provided by the Group to outside customers and distributions received and receivable from the Group’s investments in e-commerce projects during the year.10%For the year ended 30 June 2003Notes to the Financial Statements4.TURNOVER AND SEGMENT INFORMATION – Continued (a)Business segmentsFor management purposes, the Group is currently organised into four main operating business – sales of general systems products, provision of services and software licensing, leasing of systems products andinvestments in e-commerce projects. These businesses are the basis on which the Group reports its primary segment information.Sales of Provision of Investmentsgeneral services and Leasing of insystems software systems e-commerceproducts licensingproducts projects ConsolidatedHK$’000HK$’000HK$’000HK$’000HK$’000Year ended 30 June 2003 TURNOVERExternal and total revenue 618,906171,98017,6096,240814,735RESULTS Segment result39,82672,40111,084(2,661)120,650Interest income3,875 Unallocated corporate expenses (177)Profit from operations124,348Gain on disposal of subsidiaries 156 Finance costs (13,493) Profit before taxation 111,011Taxation(661) Profit before minority interests 110,350Minority interests (10)Net profit for the year 110,340As at 30 June 2003ASSETSSegment assets282,322490,94613,038154,747941,053 Unallocated corporate assets 81,619 Consolidated total assets 1,022,672 LIABILITIESSegment liabilities104,08324,82411,866–140,773 Unallocated corporate liabilities 189,733 Consolidated total liabilities 330,506OTHER INFORMATIONCapital additions of property, plant and equipment3,7639381,287–5,988 Capital additions of deposits –39,000––39,000 Capital additions of systems and networks–78,000––78,000Depreciation and amortisation 19,39459,0325,98627,173111,585Gain on disposal of property, plant and equipment2–––2 Gain on disposal of interest in e-commerce projects–––33,72333,723 Impairment loss recognised forinterest in e-commerce projects–––15,34515,3454.TURNOVER AND SEGMENT INFORMATION – Continued (a)Business segments – ContinuedSales of Provision of Investmentsgeneral services and Leasing of insystems software systems e-commerceproductslicensingproductsprojects ConsolidatedHK$’000HK$’000HK$’000HK$’000HK$’000(restated)(restated)(restated)(restated)Year ended 30 June 2002 TURNOVERExternal and total revenue 632,38042,04841,8676,065722,360RESULTS Segment result53,925(13,684)(20,002)(9,807)10,432Interest income3,735 Unallocated corporate expenses (2,121) Profit from operations 12,046 Finance costs (14,552) Loss before taxation (2,506)Taxation(72) Net loss for the year (2,578)As at 30 June 2002ASSETSSegment assets236,875323,17043,345182,263785,653 Unallocated corporate assets 141,756 Consolidated total assets 927,409 LIABILITIESSegment liabilities88,59019,41630,30450138,360 Unallocated corporate liabilities 200,190 Consolidated total liabilities 338,550OTHER INFORMATIONCapital additions of property, plant and equipment7,4691,6382,472–11,579 Capital additions of deposits –83,797––83,797Depreciation and amortisation 22,82720,5616,25429,64479,286 Loss on disposal of property, plant and equipment––209–209 Impairment loss recognised for investments in securities –––3,8873,887 Gain on disposal of interest ine-commerce projects–––17,92217,922For the year ended 30 June 2003Notes to the Financial Statements4.TURNOVER AND SEGMENT INFORMATION – Continued(b)Geographical segments(i)The following table provides an analysis of the Group ’s revenue bygeographical market, irrespective of the origin of the goods/services:(i)Revenue byProfit (loss)geographical segmentfrom operationsYear ended 30 JuneYear ended 30 June2003200220032002HK$’000HK$’000HK$’000HK$’000(restated)People ’s Republic of China, including Hong Kong and Macau 526,450457,89572,24499,103 Europe 240,270222,36916,070(75,111) Others48,01542,09636,034(11,946) Consolidated total814,735722,360124,34812,046(ii)The following is an analysis of the carrying amount of segment assets,and capital additions to property, plant and equipment, systems and networks, and interest in e-commerce projects, analysed by the geographical location to which the assets are located:Carrying amount of segment assetsCapital additionsAt 30 JuneAt 30 June2003200220032002HK$’000HK$’000HK$’000HK$’000People ’s Republic of China, including Hong Kong and Macau 728,135595,82278,01083,819 Europe 141,293176,8624,58110,338 Others153,244154,72540,3971,219Consolidated total1,022,672927,409122,98895,376(ii)5.OTHER OPERATING INCOMEIncluded in other operating income is interest income of HK$3,875,000 (2002:HK$3,735,000).3,875,000 3,735,0006.PROFIT FROM OPERATIONS20032002HK$’000HK$’000(restated)Profit from operations has been arrived at after charging: Directors ’ remuneration (Note)1,8082,449Staff costs77,98487,954 Actuarial losses recognised–66,472 Retirement benefit scheme contribution 5,5043,845Total staff costs85,296160,720 Amortisation of investments in e-commerce projects 27,17329,644 Amortisation of systems and networks55,28116,554 Depreciation and amortisation of property, plant and equipmentOwned assets27,98532,093 Assets under finance leases 1,146995Total depreciation and amortisation111,58579,286Auditors ’ remuneration1,4871,704Cost of inventories recognised367,635469,827Loss on disposal of property, plant and equipment –209 Minimum lease payments paid under operating leases in respect of: Rented premises2,0542,127 Machinery and equipment 5,4516,191and after crediting:Rental income from leasing of machinery and equipment 17,60941,867Gain on disposal of property, plant and equipment2–Note:Information regarding directors ’ and employees ’ emoluments20032002HK$’000HK$’000DirectorsFees to independent non-executive directors 4044 Other emoluments to executive directors: Salaries and other benefits1,4081,802Retirement benefit scheme contribution3606031,8082,44938For the year ended 30 June 2003Notes to the Financial Statements6.PROFIT FROM OPERATIONS – ContinuedNote: – ContinuedInformation regarding directors ’ and employees ’ emoluments – Continued Emoluments of the directors were within the following bands:Number of director(s)200320021,000,000Nil – HK$1,000,000781,500,001 2,000,000 HK$1,500,001 – HK$2,000,0001–2,000,001 2,500,000HK$2,000,001 – HK$2,500,000–1EmployeesThe five highest paid individuals of the Group included one (2002: one) director of the Company, details of whose emoluments are set out above. The emoluments of theremaining four (2002: four) highest paid employees of the Group, not being directors of the Company, are as follows:20032002HK$’000HK$’000Salaries and other benefits4,0233,677 Performance related incentive payments 9390Retirement benefit scheme contribution 1672634,2834,0307.FINANCE COSTS20032002HK$’000HK$’000Interest onBank and other borrowings– wholly repayable within five years 13,09314,001 – not wholly repayable within five years 190227Finance charges on finance leases21032413,49314,552Emoluments of these employees were within the following band:Number of employee(s)200320021,000,000Nil – HK$1,000,000121,000,001 1,500,000HK$1,000,001 – HK$1,500,0003239Kantone Holdings Limited Annual Report 20038.TAXATION20032002HK$’000HK$’000The charge comprises:Hong Kong Profits Tax– current year36113 – underprovision in prior years 2–Taxation in other jurisdictions475(44)51369 29 Deferred taxation (note 29)148366172Hong Kong Profits Tax is calculated at 17.5% (2002: 16%) on the estimated assessable profits derived from Hong Kong. Taxation in other jurisdictions is calculated at the rates prevailing in the respective jurisdictions.The low effective tax rate is attributable to the fact that a substantial portion of the Group ’s profit neither arises in, nor is derived from, Hong Kong and is accordingly not subject to Hong Kong Profits Tax and such profit is also not subject to taxation in any other jurisdictions.Details of deferred taxation for the year are set out in note 29.9.DIVIDEND20032002HK$’000HK$’000Final dividend proposed in scrip form equivalent to0.60 HK0.60 cents (2002: nil) per share,with a cash option13,326–The proposed final dividend for 2003 is based on 2,220,961,752 shares in issue at 30 June 2003.10.EARNINGS (LOSS) PER SHAREThe calculation of the earnings (loss) per share is based on the net profit for the year of HK$110,340,000 (2002 (restated): net loss of HK$2,578,000) and on the weighted average of 2,220,961,752 (2002: 2,220,961,752) shares in issue throughout the year.The loss per share for the previous year has been adjusted to reflect the retrospective application of the changes in the Group ’s policy for retirement benefit costs.There was no dilution effect on earnings (loss) per share as there were no dilutive potential ordinary shares in issue in both years.17.5% 16%292,220,961,752110,340,000 2,578,000 2,220,961,752 2,220,961,75240For the year ended 30 June 2003Notes to the Financial Statements11.PROPERTY, PLANT AND EQUIPMENTPlant andmachinery and tele-Land and communicationsTHE GROUPbuildingsnetworksTotalHK$’000HK$’000HK$’000COSTAt 1 July 200218,874293,511312,385 Currency realignment 1,50124,56426,065 Additions –5,9885,988Disposals –(9,275)(9,275) At 30 June 200320,375314,788335,163DEPRECIATION AND AMORTISATION At 1 July 20023,847232,708236,555 Currency realignment 30819,35719,665 Provided for the year 38928,74229,131Eliminated on disposals –(9,029)(9,029) At 30 June 20034,544271,778276,322NET BOOK VALUES At 30 June 200315,83143,01058,841At 30 June 200215,02760,80375,830THE GROUP20032002HK$’000HK$’000The net book values of the Group ’s property interests comprise: Freehold properties held outside Hong Kong 14,67113,917Properties held outside Hong Kong under long leases1,1601,11015,83115,027Net book value of plant and machinery andtelecommunications networks held under finance leases 1,0211,978The Group leases equipment to customers on operating lease terms. The net book value of such equipment, which is included in plant and machinery and telecommunications networks, is as follows: Customer equipment at cost 112,91799,035 Less: Accumulated depreciation 100,72980,893Net book value12,18818,142At 30 June 2003, certain land and buildings of the Group with a net book value of HK$9,524,000 (2002: HK$8,952,000) were pledged to a bank as security for banking facilities granted to the Group.9,524,000 8,952,00041Kantone Holdings Limited Annual Report 200312.INVESTMENTS IN SUBSIDIARIESTHE COMPANY20032002HK$’000HK$’000Unlisted shares, at carrying value232,890232,890The carrying value of the unlisted shares is based on the book values of the underlying net assets of the subsidiaries at the time they became members of the Group under the group reorganisation in 1996.Details of the Company ’s principal subsidiaries at 30 June 2003 are set out in note 40.13.AMOUNTS DUE FROM (TO) SUBSIDIARIESThe CompanyThe amounts are unsecured, interest-free and have no fixed repayment terms.Included in amounts due from subsidiaries at 30 June 2003 is an amount of approximately HK$13,785,000 (2002: HK$6,371,000) which is subordinated to a bank which granted credit facilities of approximately HK$80,423,000 (2002:HK$68,480,000) to a subsidiary during the year.14.SYSTEMS AND NETWORKSTHE GROUP20032002HK$’000HK$’000COSTAt beginning of the year 176,32846,500Acquired during the year 78,000–Transferred from deposits 162,692129,828 At end of the year 417,020176,328 AMORTISATIONAt beginning of the year 16,554– Provided for the year 55,28116,554 At end of the year 71,83516,554 NET BOOK VALUEAt end of the year345,185159,774Systems and networks include all direct costs incurred in setting up anddevelopment of internet based knowledge systems and networks. The Group ’s systems and networks are amortised over the estimated economic lives of the projects from the date of commencement of commercial operations subject to a maximum of five years.4013,785,000 6,371,000 80,423,000 68,480,000。
综合财务报表附注 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
3.
Significant Accounting Policies (continued)
Basis of consolidation
The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company (its subsidiaries). Control is achieved where the Company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The results of subsidiaries acquired or disposed of during the year are included in the consolidated income statement from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group. All intra-group transactions, balances, income and expenses have been eliminated on consolidation.
商务英语(上)形考册答案
商务英语（上）简答题总结几个重要概念●STEP analysis-------STEP stands for Sociological, Technological, Economic and Political.(STEEP---Sociological, Technological, Economic, Ecological and Political). It is a useful management tool which helps companies understand the external factors that can affect their businesses.●TQM-----It stands for Total, Quality, and Management.●SWOT-----It stands for Strengths, Weaknesses, Opportunities, and Threats. It is amanagement tool which helps an organization to identify its strengths and weakness, understand the opportunities presented by the marketplace and the threats that it faces in the market.●SMART-----It stands for Specific, Measurable, Achievable, Relevant, and Timed. It is aimportant planning tool which helps an organization to realize its goals. It makes the goals specific, measurable, achievable, relevant and timed. It can help check the feasibility of the objectives made by the company.●Annual report-----It will look back over the year and will talk about the profit and lossaccount, detail the cash-flow forecast, where cash has come from, where it’s gone, and also will look at the balance sheet at the beginning or end of the year that’s just ended.●The balance sheet ---this statement shows an organization’s assets(what is owns)against itsliabilities(what it owes) at a particular time----usually the beginning or end of a financial period, such as a month or year.●Cash flow---- The cash flow shows where cash comes from and where it goes over a period of time. The cash-flow forecast is a document that’s going to enable you to monitor and control your business.●The profit and loss account---This compares what the company has earned from sales withwhat the company spent to make those sales.作业1Module 1 Changes and the company1．What are the different ways in which organizations can be structured？Organizations often have either a tall structure or a flat structure.A tall structure usually has many levels or layers of management. It is hierarchical.A flat structure has fewer layers of management. This often results in more individual responsibility.2．What factors may contribute to the changes in an organization？It considers changes which have happened as a result of technology, new working practices and increasing globalization.Sociological, Technological, Economic, Ecological and Political factors may contribute to the changes in an organization.3. How have these changes affected people at work? How have the changes affected people personally?Effects on people at work:Positive:working with new technology, such as quicker communication , to be more convenient，efficient, increased efficiency, Work from home/telecommuting.Increased job securityGoing to other country or place to work/Set up one’s own business, developing his careerNegative:Bring more challenge and opportunitiesUnder great pressure, stressful and difficult, severe competitionEffects on people personallyExperiencing a different lifestyleTravelingImproved salaryChange a job easily4．How does an organization operate in a global market？(p22)In response to this growing global market, companies need to make changes to adapt.1)Building capacity-----Businesses have attempted to remain competitive and commercially profitable on the global market. They have also aimed to attain world-class performance.2)Investing in people------Focusing on developing the potential of each individual employee.3)Meeting customer expectations—Satisfying the greater choice as well as lower prices demanded by customers4)Strengthening the role of management----Promoting a vision that everyone working in the company can understand.5. Advantages and disadvantages of working at home?Find a balance between working at home and working in the office. One can’t work in complete isolation. One needs some contact with the outside world.Module 2 The Customer6 How important is a strong customer service policy to the success of the company?A company’s success mainly depends on the customers . Without a strong customer service, a company can’t make living and survive for a long time. A strong customer service policy ensures the improvement of the customer service.7. What is a company supposed to do to improve customer service?Making everyone aware of how important a good customer service is.Train the staff on customer care. Every one should learn to be more helpful, pleasant and friendlyProvide a friendly e nvironment to get customers’ feedback quickly to meet their needs.8. About brand values, what should a company do to increase its brand value?The five brand values are: quality, friendliness, innovation, value for money and choice.In order to increase the brand value, a company should provide the higher quality of products and service; train the staff to be more friendly and knowledgeable; innovate frequently; improve its service to a high level ; have various products available; have a good supervision system.9 How do you get customer feedback? How do you conduct the survey? How do you select the sample group of people? (Or how are you supposed to?)第一问:There are three ways of getting feedback from customers: in face-to-face interviews, on the telephone and through a written questionnaire.第二问:Choose a sample of the target customers to ask questions relating to the data the company needs.conducting an interviewTelephone the customersHand out the company’s questionnaires ,brochures or materials for the customers to fill in.Send emails or letter to the customers第三问：survey the sample group of people in their own home is often useful. There are three main types of survey: doorstep interviews, postal surveys and telephone surveys.10 What is Total Quality Management? What is the difference between TQM and traditional management?第一问：TQM stands for Total Quality Management. Total means that everyone is involved in the final product or service to the customer. Quality is a objective rather than a subjective concept, we must understand it in the same way. We can measure and manage it. Management means TQM will not happen by accident.第二问：The traditional idea of quality control is of people checking finished articles to see if they come up to standard, rejecting those that don’t and investigating problems when they happen. This is a reactive approach to quality---“Wait until something goes wrong and then fix it”.But TQM is quite different from that. It is a proactive rather than a reactive process.11 What is “cash flow”?The cash flow shows where cash comes from and where it goes over a period of time.12 How do you give a presentation about the company’s financial performance?P141I should prepare well by writing out what I want to say and then pra cticing it. However, it isn’t a good idea to read it because I can’t sound very natural and can’t make eye contact with my audience. So I will talk from notes I’ve made. In the presentation I will dress formally and preparesome visual aids to help me.Most presentations follow a similar structure and often use the same language. Normally it is divided into six parts: Greeting, Introducing the purpose of the presentation, Introducing the sequence of the presentation, Referring to visuals, Changing topic, and Summarizing and concluding.13 What should a business plan include? P150It usually should include:1)Executive summary2)Nature of the business3)Management of the business4)Sales and marketing5)Product and services6)Premises, equipment and vehicles7)Legal and insurance8)Financial planning-profit and loss9)Monitoring performance-cash-flow forecast10)Personal survival budget11)Assessing profitability12)Contingency plans/risk assessment14 What is the business plan for?It helps a company to look back the performance in the past and anticipate trends and see opportunities before the competition does.It is for a company to ask for loan from bank and investment from shareholders or investors. It helps you to set up a new business. The cash-flow forecast is a document that’s going to enable you to monitor and control your business.15 Could you tell some of the reasons why some businesses fail?Most of those companies go out of business because of working capital or cash-flow problems. Many small businesses fail because they don’t understand finance well.Increasing sales too quickly is one of the largest causes of small business failure.Your customers paid late. You couldn’t pay your suppliers.Your suppliers stopped supplying you, You could n’t produce any more products.You didn’t supply your customers on time, They went to your competitors instead.You did n’t pay your staff regularly, They left to find more secure jobs.You borrowed more money from the bank, You couldn’t pay the interest.作业216 What is the procedure of market research? How do you write market research reports ( in terms of structure and language)?（按照结构和语言）第一问：1)Find the focus group to carry out the market research.2)Finish the questionnaire3)Prepare the market research reports第二问：A market research report will usually contain the following sections:1)Introduction2)Aims The aim of this research is to….3)Methodology(the methods) This research was administered using a questionnaire byinviting (+人数) customers.4)Results/Key findings5)Conclusions and recommendations To sum up, …17 What is the proper attitude towards teamwork?Working in teams may:1)be motivating2)Be interesting3)Be educational4)Give members the opportunity to work with different people5)give team members a sense that they are doing something useful.6)Make members feel more valuable or important7)Allow different abilities to be used on a project8)Produce better solutions to problems more quickly18 What’s the function of a team leader?The function of a team leader is overall planning and coordination of different departments.19 When the new product is finished, how do you promote the product?I will promote the product internally and externally.There are many ways to promote the product such as through Brochure, advertisements, direct selling, presentations, point-of-sale displays, newspaper article and posters and so on.20 Do you have to promote the new product internally? How do you promote your product internationally?Yes, I do. One of the purposes of the internal promotion to the managers and staff was to get their opinions on the product and to identify the problem. Then I will know how to solve the problem to make the products better.For promoting internationally, I will promote the products in the international exhibition center, book a stand at the Exposition or launch TV advertisement or promote online.21 What kind of technology are you using in your work?I am using the ICT(Information Communication Technology) in my work. I also use Internet, intranet, computer, printer, photocopier, scanner and so on.22 How do you react to new technologies?(Do you like it? Do you feel like to get some training? Any rejections to the technologies?They are very useful. I’m in favor of them. They are very convenient for me. They can help me improve my efficiency.I like to get some training. It will make me competitive and more capable of my work. Thought new technologies bring us lots of opportunities, they also have some shortcomings. Some people will make use of them to commit crimes. They can easily cheat on line.23 What if you were not using the technology?Without using the technology, I wouldn’t be able to do work and my working efficiency will be very low.24 Taking IT (or ICT) for example, what are the strengths and weaknesses of this technology? Strengths:1) It is very useful. The Internet and the intranet bring us a great change in the ways we do things.We use it not only for posting information for general use, but we also use it for forums. The team members in the forum can work in different places or countries. We can easily search information online.2) Because of globalization, ICT allows us to contact with the whole world easily.3) It saves people ‘s time. It allows people work from home or other places instead of office room.Weaknesses:1) People spend more time communicating through their modems even in the same office that talking face to face. People become more isolated.2) It makes people lazy.25 What technology skills a person has to have so as to get or stay at a job in business?A person should know :how to use some basic office software such as Word processing software, Excel, PowerPoint and so on.how to send and receive email or fax.How to use the photocopier.How to surf online to find the information what the company need26 What is the process of recruitment?1) Deciding to employ new staff--------This is the writing of a job description and a person specification to identify exactly the type of person needed for the post.2) Job application.----------Companies place an advertisement for the vacancy. The applicants will write a CV and a covering letter and then send them to the companies.3) Selection and rejection of applicants.-----Companies interview and select new staff. And applicants apply for the position.4) Companies introduce new staff to the new position.-----------induction27 For the applicants, what is the process of applying for posts?1) Identifying the vacancy.2) Writing a CV and a covering letter(附上的说明信)3) Preparing for a interview and taking the interview.28 How to write a CV?are three main formats : Chronological/time order, functional, and predictive. And you need to write a covering letter together with your CV.number etc, include information about your education, career and skills. It should give information about the tasks and responsibilities of the jobs you have done.29 How to win a chance of interview? How to prepare for an interview? How to behave in an interview?(p88)第一问:Preparation is the key to win a chance of interview. Firstly, You should meet the requirement needed by the company. You should be knowledgeable and experienced in the relevant field for the post. Secondly, you should write a good CV and a good covering letter..第二问:You should find out as much as you can about the company.Read over the application form or your CV because the interviewers will start their questions from what you have already sent to them. So remember what you’ve put in.Also think about the questions they might ask you. You will almost normally be asked why you want the job, or why they should give you the job above the other candidates.Prepare a few questions for asking them to show you can think for yourself.第三问:You’ve got to convince the interviewer that you’re the person they want.Speak positively about yourself and emphasize your strengths, skills and talents.Be confident and have self-belief.It’s worth being honest, but often you can turn a weakness into a strength.30 What will the company look at in a candidate when choosing the right person?The company looks for a candidate who is keen on the job, who really wants that job.They also look at whether you are knowledgeable and experienced in the relevant field for the post.作业331 How do you conduct research on competition?(p123)8+6I conduct research on competition through:--Continuous market research--Buy trade magazines--Audit consumer use of different brands--Visit other companies’ headquarters--Audit shops and their sales--Speak to the employees of other organizations--Look at other organizations’ annual reports--Visit trade fairsVisit local librarySearch the internetTrack media commentaryMake direct enquiresStudy product literatureUse your eyes.32 What are the different kinds of market research?p138(7)Attitude researchMotivational researchQualitative market researchQuantitative market researchDesk researchMarketing communications researchOmnibus survey33 What is SMART action plan? How important is the SMART action plan?It stands for Specific, Measurable, Achievable, Relevant, and Timed.The SMART action plan is a very important planning tool which helps an organization to realize its goals. It makes the goals Specific, Measurable, Achievable, Relevant, and Timed. According to this plan, an organization can make its business successful. It can help check the feasibility of the objectives made by an organization.34 What is SWOT analysis? How important is SWOT analysis when a company needs to identify areas to change or develop?It stands for Strengths, Weaknesses, Opportunities, and Threats.It is used by organizations as a means of identifying areas, which may need to be changed, or areas, which can be developed. This type of analytical tool represents an effort (成果) to examine the interaction between the particular features of your business and the external marketplace in which you compete.35 How do you promote your brand image? What ads are good ads?第一问:Brand image is the image of a company’s products or serv ices. It is promoted by the advertising. And I need to choose an attractive name, improve the quality of products and service and make them value for money. It’s also very important to train the staff carefully, because the internal communication can make every staff understand what the company’s about to promote the brand image. I need to focus on reliability and customer care as well.第二问:attractivehonestinterestingmeaningful36 What qualities and skills do you think are necessary or useful for an effective salesperson?An effective salesperson should have the following skills and qualities:Identifying the customer’s needs exactl y;Describing those benefits of the product which meet that customer’s needs;Using evidence to support any claims made;Overcoming objections;Closing the sale successfully.37 How do you know what your customers need? How do you take customer’s complain t?第一问:There are many ways to know what the customers need such as asking questions directly, doing market research.第二问:Customer’s complaints can actually be a good thing for a company that takes customer service seriously. One study shows that dissatisfaction with a supplier is by far the most common reason why people switch from one company to another when buying a given product or service. I should take customer’s complaint as a good opportunity to correct my business and make it more competitive and successful.38 How do you present your product to your (potential) customer?The customer is more likely to be interested in the benefits of the product that its features. So when I present my product to my customer, I need to highlight the benefits to the customer. And I will use various promotional methods such as brochure, leaflet, sales presentation, and point-of-sales etc.39 What is the process of sales negotiation? What language skills ( or any other skills) are needed in negotiation?（p187）第一问:There are seven stages of a negotiation process. They are:1 Greeting & small talk2 Drawing up the agenda3 Putting forward a proposal4 Turning down a proposal5 Trading6 Running through the main points agreed7 Closing the sale第二问: In terms of language skills, the followings are needed:Using the conditional---First conditional, Second conditional, Third conditionalUsing open-ended questionsIt’s polite to acknowledge the other person’s opinion before you disagree with them unl ess you feel very strongly about the subject.40 How do you deal with the different management and business styles in different cultures?In order to deal with the different management and business styles in different cultures, I can employ local managers to combine the strength of local knowledge with global reach, employ global executive, manage people differently in different countries, and develop a set ofmanagement competencies used worldwide.And another important method is to identify, respect and adapt to the culture difference.。
《会计专业英语》Chapter 8 Financial Statements
6
8.1.2 Income Statement
1. The Purpose of an Income Statement ➢ An Income Statement is a financial statement that summarizes the
profitability of a business entity for a specified period of time. ➢ Tlp users of financial statements:
➢ Information in the Income Statement not only helps users evaluate past performance, but also provides insights into the likelihood of achieving a particular level of cash flows in the future.
7
2. The Elements of an Income Statement
➢ The Income Statement classifies amounts into gross profit on sales, income from operations, income before taxes, and net income.
英汉词典
接合座 自适应总线-digital data highway to which(almost) any number of inputs 地址-electronic code identifying each part of computer memory,each address bit or information unit being routed to different address adhesion 粘接 adhesive tape 粘胶带 adjacent to 邻近的 可调水平安定面-horizontal stabilizer of an airplane which may be adjustable stabilizer adjusted in flight to trim the airplane for hands-off mode in flight admittance 导纳-in AC circui,reciprocal of impedance advance drawing 图纸先行更改通知 change notice(ADCN) advanced 先进的-new sophisticated and typifying latest technology advanced switch 步进电门 adverse effect 不利影响；严重后果 advisory circular(AC) 咨询通报 advisory Message 咨询信息 aerodynamic 空气动力的 aerodynamic smoother 空气动力平滑胶 aeroelastic torsion 气动弹性扭曲 aeronautical 航空的 aerosol 烟雾，浮质-colloid of finely divided solid or liquid disperesed in aft looking forward 从后向前看 afterbody drag 后体阻力 afterburner 加力燃烧室 尾喷管喷火-sometimes called torching,a condition resulting from afterfiring unburrnt fuel being ignited in the exhaust nozzle age-hardening 时效，硬化 ageing=aging 时效处理 aging 老龄的 agent 试剂 aileron 付翼 aileron authority 付翼效能 付翼传动力限制器-electro-mechanical device for limiting the control aileron force limiter wheel movement by the autopilot during autopilot operation aileron programmer 付翼程序器-convert central lateral control actuator motion to control air bleed valve 放气活门 减速板；阻力板-a plate or series of plates that may be projected into air brake airport's slipstream to provide turbulence and drag to slow the air carrier 航空营运者-any company which provides commercial air transportation air conditioning 空调 空气循环机；涡轮冷却器-a compressor & turbine on a common shaft for air cycle machine cooling air in an air conditioning system 大气数据计算机-one which produces air data air data computer information(altitude,airspeed ect) based on pressure and temperature 中断飞行-a change from original flight plan due to a known or air interruption suspected malfunction&/ defect during flight air lock 气锁，气塞-a trapped pocket of air that blocks the flow of fluid 空气封严件；气密封圈；气封严-usually thin rotating or staionary rims air seal designed to act as air DAMS to reduce airflow leakage air ground 起落架位置传感器；空地传感器-an electrical device operated by the sensor landing gear for transmitting airport position for systems operation air tapping 抽气管座 空中返航-return of airplane to airplane of origin as a result of air turnback malfunction or suspected defect of any item on airplane airborne 空中飞行的；机载的
第3章 Financial Statements《会计英语》PPT课件
Total Assets
133 500
68 000
$350 000
Unit 1 Balance Sheet
Exhibit 3-1-1A balance sheet in report form
ABC Co. LTD
Balance Sheet
December 31, 20
Liabilities & Owners’Equity
$225 000
45 000
270 000
350 000
Unit 1 Balance Sheet
Exhibit 3-1-2 A balance sheet in account form
ABC Co. LTD
Balance Sheet
December 31, 20_ _
Assets
Cash
Accounts Receivable
ABC Co. LTD
Balance Sheet
December 31, 20
Assets
Cash
Accounts Receivable
Supplies
$20 500
65 000
1 500
Cleaning Equipment
39 000
Delivery Equipment
22 500
Buildings
business arrived at this financial position.
Unit 1 Balance Sheet
➢FORMAT OF BALANCE SHEET. The balance sheet may be arranged in
either account form or report form.
11-13-THE-BALANCE-SHEET
I Accounting I Accounting
第1页，共66页。
Accounting School · Zhongnan University of Economics & Law
The FASB has identified five alternative valuation methods
:
➢ Historical cost （original cost历史成本） ➢ Current cost (or current replacement cost现行成本)
➢ Current market value (or current exit value市价) ➢ Net realizable value (or expected exit value可变现净值)
acknowledges that accounting is not an exact
science.
第4页，共66页。
Intermediate Accounting 3 The Balance Sheet and Statement of Changes in Stockholders’ Equity
Elements of the Balance Sheet — Stockholders’ Equity
Equity is residual
[rɪ'zɪdʒu:əl]
interest 残值in the assets of a company that
remain after deducting liabilities.
如何平衡花钱和存钱英语作文
如何平衡花钱和存钱英语作文English:Balancing spending and saving is essential for maintaining financial stability. It is important to create a budget that allows for both necessary expenses and savings. Start by tracking all expenses to understand where the money is going. Identify areas where spending can be reduced, such as dining out or entertainment. It is also important to prioritize saving and make it a non-negotiable part of the budget. Set savings goals and contribute to them regularly, even if it's just a small amount. Additionally, consider setting up automatic transfers from the checking account to a savings account to make saving easier. It's also helpful to look for ways to increase income, whether it's through a side hustle or seeking a higher-paying job. By balancing spending and saving, individuals can achieve financial security and work towards their long-term financial goals.Translated content:平衡花钱和存钱对于维持财务稳定至关重要。
财务报表分析-英文
Introduction and Basic Concepts
Business Partnership Vision Strategy Budget Forecast
Others Treasury M&A Risk Management Insurance Auditing Compliance Hedging ….
Introduction and Basic Concepts
Minimize Working Capital Maintain Strong Cash Flow
Pay Debts As They Are Due Increase Liquidity
Maintain Strong Financial Position
Introduction and Basic Concepts
导言及基本概念 Introduction and Basic Concepts Introduction Finance Organization Finance Activity Other topics
This training will allow you to understand： Finance Function Concept of Financial KPIs (Revenue, DM, DL, VOH, FOH, SG&A, OI, OCF, EBITDA, DOH, DSO, DPO, Incremental, etc.) BS, P&L and Cash Flow Statements Concepts of Financial Statement Evaluation and Investment Appraisal
如何平衡消费和储蓄英语作文
如何平衡消费和储蓄英语作文Balancing Consumption and Savings: A Key to Financial Wellness.In the modern era, the concept of balancing consumption and savings has become increasingly important. With therise of consumerism and the ease of access to credit, it is easy to get caught up in the cycle of spending without considering the long-term consequences. However, a balanced approach to consumption and savings is crucial for maintaining financial stability and achieving financial goals.Consumption refers to the act of purchasing goods and services to meet current needs and desires. It is a natural part of life, as it fulfills our basic requirements and enhances our quality of life. However, over-consumption can lead to financial problems, such as debt and credit card balances that are difficult to manage.On the other hand, savings refer to the act of setting aside money for future needs and goals. Savings provide a financial cushion during emergencies, such as job loss or medical expenses, and also help in achieving long-term financial goals, such as purchasing a home or retiring comfortably.To strike a balance between consumption and savings, it is important to follow a few key principles:1. Budgeting: Creating a budget and sticking to it is essential for balancing consumption and savings. A budget helps you track your income and expenses, identify areas where you can cut back, and allocate funds for savings. By setting aside a certain amount of money each month for savings, you can build a financial cushion that will protect you during unexpected events.2. Prioritizing Needs over Wants: Distinguishing between needs and wants is crucial for balancing consumption. Needs are the basic requirements for survival and well-being, such as food, shelter, and healthcare.Wants, on the other hand, are discretionary purchases that enhance our quality of life but are not essential for survival. By prioritizing needs over wants, you can ensure that your basic requirements are met while still allocating funds for savings.3. Paying Off Debt: If you have existing debt, such as credit card balances or loans, it is important to make a plan to pay them off as soon as possible. Interest payments on debt can eat into your budget and prevent you from saving effectively. By making extra payments or increasing your monthly payments, you can reduce your debt burden and free up more funds for savings.4. Saving Automatically: Setting up automatic transfers from your checking account to your savings account can help you save without even thinking about it. By scheduling regular transfers, you can ensure that you are saving a certain amount of money each month without having to manually transfer funds. This can make saving easier and more effective.5. Investing for the Future: In addition to setting aside funds for emergency savings, it is important to invest for the future. Investing your savings in stocks, bonds, or other investment vehicles can help you grow your money and achieve long-term financial goals. However, it is important to do your research and consult with a financial advisor to ensure that your investments align with yourrisk tolerance and financial goals.In conclusion, balancing consumption and savings is essential for maintaining financial stability and achieving financial goals. By following the principles of budgeting, prioritizing needs over wants, paying off debt, saving automatically, and investing for the future, you can ensure that you are making smart financial decisions that will benefit you in the long run. Remember, financial wellnessis a journey, not a destination, and it requires constant attention and effort to maintain.。
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This term includes legal commitments as well as moral, social, and implied obligations.
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Most liabilities involve an obligation to transfer assets in the future. However, an obligation to provide a service is also a liability.
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Current Assets
The normal operating cycle involves the use of cash to purchase inventories, the sale of inventories resulting in receivables, and ultimately the cash collection of those receivables.
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Noncurrent Assets
• Investments • Property, plant, and equipment • Intangible assets • Deferred income taxes
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Investments
Investments held for such longterm purposes as regular income, appreciation, or ownership control are reported under the heading Investments.
Stice | Stice | Skousen
Intermediate Accounting,17E
The Balance Sheet and Notes to Financial Statements
PowerPoint presented by: Douglas Cloud Professor Emeritus of Accounting, Pepperdine University
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OBJECTIVE 1 Describe the specific elements of the balance sheet (assets, liabilities, and owners’ equity), and prepare a balance sheet with assets and liabilities properly classified into current and noncurrent categories.
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Accounting is not a science.
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The primary purpose of the balance sheet is to help forecast the future.
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If a company economically controls the future economic benefits association with an item, that item qualifies as an asset whether it is legally owned or not.
© 2010 Cengage Learning
Learning Objectives
1. Describe the specific elements of the balance sheet (assets, liabilities, and owners’ equity), and prepare a balance sheet with assets and liabilities properly classified into current and noncurrent categories. 2. Identify the different formats used to present balance sheet data. 3. Analyze a company’s performance and financial position through the computation of financial ratios.
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Current Assets
• In addition to cash, receivables, and inventories, current assets typically include prepaid expenses and investments in certain securities.
Cash and resources expected to be converted to cash during the entity’s normal operating cycle or one year, whichever is longer, are current assets. • Cash • Receivables • Inventories
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Current Liabilities
The existing loan is not classified as current as long as: 1. The intent of the company is to refinance the loan on a long-term basis. 2. The company’s intent is evidenced by an actual refinancing after the balance sheet date but before the financial statements are finalized or by the existence of an explicit refinancing agreement.
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Current Liabilities
Sinking Fund
A sinking fund is comprised of cash and investment securities that have been accumulated for the stated purpose of repaying a specific loan.
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The Balance Sheet
• A balance sheet presents a listing of an organization’s assets and liabilities at a certain point in time. • The difference between assets and liabilities is called equity. • The balance sheet is designed using the basic accounting equation: Assets = Liabilities + Owners’ Equity
• Debt and equity securities that are purchased mainly with the intent of reselling these securities in the short term are called trading securities.
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Plant, Property, and Equipment
Property, plant, and equipment are properties of a tangible and relatively permanent nature that are used in the normal business operations. • Land • Buildings • Machinery • Tools
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Learning Objectives
4. Recognize the importance of the notes to the financial statements, and outline the types of disclosures made in the notes. 5. Understand the major limitations of the balance sheet.
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Noncurrent Liabilities
Current liabilities do not usually include:
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Callable Obligations
A callable obligation is one that is payable on demand and thus has no specified due date. If an agreement calls for an obligation to be due on demand or to become due on demand within one year from the balance sheet date, the obligation should be classified as current.
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Current Liabilities
Short-Term Obligations
If a short-term loan is expected to be refinanced or paid back with the proceeds of a replacement loan, the existing short-term loan will not require the use of current assets even though it is scheduled to mature within a year.