财务管理专业英语unit7

HP and Microsoft plan to extend their partnership into new business areas to help large business customers incorporate new technology including internet-based communications, business intelligence and collaboration software.
提供商。
保罗·艾伦
Mini case
Microsoft and HP plan joint investment
Microsoft Corp. and Hewlett-Packard Co. have agreed to invest jointly at least $300 million over three years and work more closely together to win over large business customers.
如今的HP，作为全球领先的高科技公 司，在美国财富500强中名列第11，在全球 财富500强中名列第28，并在美国《商业周 刊》"全球最具价值品牌"中排名第13位。 HP当年创业的车库也被美国政府确立为硅 谷诞生地。HP的创新精神更是激发了千千 万万硅谷人的创业激情。
The two companies ,the world’s largest makers of software and personal computers respectively, planned to work together to develop, test, validate or ensure that products conform to standards and deploy new products, while also collaborating on sales and marketing.
The companies will also work together to establish a sales and technical training program to certify more than 3,000 new Microsoft-trained consultants at HP.
Unit 7 Capital budgeting
wisdom:
You, academician, worry about making good decisions. In business, we also worry about making decisions good.
——Anonymous
• Very important to firm’s future.
Steps to capital budgeting
1. Estimate CFs (inflows & outflows). 2. Assess riskiness of CFs. 3. Determine the appropriate cost of capital. 4. Find NPV and/or IRR. 5. Accept if NPV > 0 and/or IRR > WACC.
Microsoft
微软（Microsoft)公司 是世界PC(Personal Computer，个人计算机)机 软件开发的先导，比尔·盖
茨与保罗·艾伦是它的创始 人。
微软公司（Microsoft）
创建于1975年，总部设在华
盛顿州的雷德蒙市
（Redmond，邻近西雅图）。
目前是全球最大的电脑软件
What is capital budgeting?
Capital budgeting, also known as constructive or investment budgeting ,it is the capital expenditure plans in order to attain the better of the business’s future development and more returns .It is a budgeting which to reflect the sources and applications of funds for construction。
Should we build this
Hale Waihona Puke plant?The content of capital budgeting
• Analysis of potential additions to fixed assets.
• Long-term decisions; involve large expenditures.
HP
惠普研发有限合伙公司(HewlettPackard Development Company, L.P.)
现任CEO：马克•赫德 1939年，在美国加州帕洛阿尔托市 (Palo Alto)爱迪生大街367号的一间狭窄车 库里，两位年轻的发明家比尔.休利特 （Bill Hewlett）和戴维.帕卡德（David Packard），怀着对未来技术发展的美好 憧憬和发明创造的激情创建了HP公司， 开始了硅谷的创新之路。
主要产品为
Windows操作系统、 Internet Explorer网页 浏览器及Microsoft Office办公软件套件。 1999年推出了MSN Messenger网络即时信 息客户程序，2001年 推出Xbox游戏机，参
与游戏终端机市场竞 争。
2002年，微软结合Windows 98和 Windows 2000系列的优点，推出了 Windows XP操作系统，XP的意思是“体 验”。XP系统重点加强了安全性和稳定性， 首次在Windows操作系统中集成了微软自 己的防火墙产品。 Windows XP又一次成 为软件发展史上的经典之作。