Financial management is an integrated decision-making process concerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity.
财务管理是为了实现一个公司总体目标而进行的涉及到获取、融资和资产管理的综合决策过程。
Decisions involving a firm’s
short-term assets and liabilities refer to working capital management.
决断涉及一个公司的短期的资产和负债提到营运资金管理
The firm’s long-term financing decisions concern the right-hand
side of the balance sheet.
该公司的长期融资决断股份资产负债表的右边。
This is an important decision as the legal structure affects the financial risk faced by the owners of the company.
这是一个重要的决定作为法律结构影响金融风险面对附近的的业主的公司。
The board includes some members of top management(executive directors), but should also include individuals from outside the company(non-executive directors).
董事会包括有些隶属于高层管理人员(执行董事)，但将也包括个体从外公司(非执行董事)。
Maximization of shareholder wealth focuses only on stockholders whereas maximization of firm value encompasses all financial claimholders including common stockholders, debt holders, and preferred stockholders.
股东财富最大化只集中于股东，而企业价值最大化包含所有的财务债券持有者，包括普通股股东，债权人和优先股股东。
Given these assumptions，shareholders’ wealth maximization is consistent with the best interests of stakeholders and society in the
long run。
根据这些假设，从长期来看，股东财富最大化与利益相关者和社会的最好利润是相一致的。
No competing measure that can provide as comprehensive a measure of a firm’s standing. Given these assumptions, shareholders’ wealth maximization is consistent with
the best interests of stakeholders and society in the long run.
没有竞争措施，能提供由于全面的一个措施的一个公司的站。给这些臆说，股东'财富最大化一贯不比任何人差项目干系人项目利益相关者的利益，社会从长远说来。
In reality, managers may ignore the interests of shareholders, and choose instead to make investment and financing decisions that benefit themselves.
在现实中，经理可能忽视股东的利益，而是选择利于自身的投资和融资决策。Financial statements are probably
the important source of information from which these various stakeholders(other than management) can assess a firm’s financial health.
财务报表可能是最重要的信息来源，除管理者以外的各种利益相关者可以利用这些报表来评估一个公司的财务状况。
The stockholders’ equity section lists preferred stock, common stock and capital surplus and accumulated retained earnings.
股东权益列示有优先股，普通股，资本盈余和累积留存收益。
The assets, which are the “things” the company owns, are listed in the order of decreasing liquidity, or length of time it typically takes to convert them to cash at fair market values, beginning with the firm’s current assets.
资产，也就是公司拥有的东西，是按照流动性递减的顺序或将它们转换为公允市场价值所需要的时间来排列的，通常从流动资产开始。
The market value of a firm’s equity is equal to the number of shares of common stock outstanding times the price per share, while the amount reported on the firm’s balance sheet is basically the cumulative amount the firm raised when issuing common stock and any reinvested net income(retained earnings).
公司权益的市场价值等于其发行在外的普通股份数乘以每股价格，而资产负债表上的总额则主要是公司在发行普通股以及分配任何再投资净收益（留存收益）时累积的数额。
When compared to accelerated methods, straight-line depreciation has lower depreciation expense in the early years of asset life, which tends to a higher tax expense but higher net income.
与加速折旧法相比,直线折旧法在资产使用年限的早期折旧费用较低，这也会趋向于较高的税金费用和较高的净收入。
The statement of cash flows consists of three sections:(1)operating cash
flows,(2)investing cash flows,
and(3)financing cash flows. Activities in each area that bring in cash represent sources of cash while activities that involve spending cash are uses of cash.
该声明现金流量表包含三个部分:(1)经营现金流,(2)投资的现金流,(3)融资现金流。在每个地区活动带来现金来源的现金而代表活动涉及到花钱是使用现金
Financing activities include new
debt issuances, debt repayments or retirements, stock sales and repurchases, and cash dividend payments.
筹资活动,包括发行新债券，偿还债务，股票销售和回购，以及现金股利支付。
Not surprisingly, Enron’s executi ves had realized some $750 million in salaries, bonuses and profits from stock options in the 12 months before the company went bankrupt.
毫不奇怪, 公司破产前的十二个月里，安然的高管们实现了7.5亿美金的工资、奖金和股票期权利润。
First, financial ratios are not
standardized. A perusal of the many financial textbooks and other sources that are available will
often show differences in how to calculate some ratios.
首先,财务比率不规范。一个参考的许多金融教科书及来源,可将经常表现出差异如何计算一些率。
Liquidity ratios indicate a firm’s ability to pay its obligations in the short run.
流动性比率表明公司的支付能力在短期内它的义务。
Excessively high current ratios, however, may indicate a firm may have too much of its long-term investor-supplied capital invested in short-term low-earning current assets. 当前的比率过高,然而,可能表明,一个公司可能有太多的长期investor-supplied资本投资于短期low-earning流动资产
In an inflationary environment, firms that use last-in,
first-out(LIFO)inventory valuation will likely have lower current ratios than firms that use first-in,
first-out(FIFO).
在一个通货膨胀的环境下,企业选择使用后进先出法对存货计价的公司比采用先进先出法的公司有一个低的流动比率。
The cash ratio is too conservative to accurately reflect a firm’s
liquidity position because it assumes that firms can fund their current liabilities with only cash and marketable securities. 流动比率太稳健不能正确反映一个公司的
流动性状况，因为在这一比率假定公司仅仅用现金和有价证券就可以偿还流动负债。Debt management ratios characterize a firm in terms of the relative
mix of debt and equity financing and provide measures of the
long-term debt paying ability of
the firm.
描述一个公司债务管理比率从相对的混合
的债务和股权融资的措施,提供长期偿债能力的公司。
Total capital includes all
non-current liabilities plus equity, and thus excludes short-term debt.
资本总额包括所有非流动负债加上股本,从而排除短期贷款。
Net profit margins vary widely by the type of industry.
有着很大的不同,其净利润为典型的产业。Note that earnings before interest and taxes, rather than net income, Is used in the numerator because interest is paid with pre-tax dollars, and the firm’s ability to pay current interest is not affected by taxes.
注意,分子中用的是息税前利润而不是净收入，这是因为利息是税前支付的，公司支付现金利息的能力不受税收的影响。Managers should analyze the
tradeoff between any increased sales from a more lenient credit policy and the associated costs of longer collection periods and more uncollected receivables to determine whether changing the firm’s credit
sales policy could increase shareholder’s wealth.
管理者应该分析权衡增加的销售从一个更为宽松的信贷政策和相关费用较长的周期和更多的应收账款收集来决定是否改变公司的信用销售的政策可能会增加股东的财富。
If the receivables collection period exceeds a firm’s credit terms this may indicate that a firm is ineffective in collecting its credit sales or is granting credit to marginal customers.
如果应收账款采集时间超过公司的信用条款这也许说明了企业信用销售收集它无效或给予客户信用边缘。
A low, declining ratio may suggest the firm has continued to build
up inventory in the face of weakening demand or may be carrying and reporting outdated or obsolete inventory that could only be sold at reduced prices, if at all.
一个低税率、下降率可能显示这个公司已经持续不断地加强库存面对需求不断减弱或可能携带和报告过期或过时的库存,只能减价出售。
Thus, the operating profit margin, which indicates the operating profit generated per dollar of net sales, measures the firm’s operating profitability before financing costs.
因此,经营利润,预示着美元营业利润产生的净销售额,公司的经营利润措施在融资成本。If the firm’s fixed assets are old and have been depreciated to a low book value, and the assets
have not lost their productive ability, the low figure in the denominator will inflate ROA.
如果公司固定资产比较旧,分母的减少会是ROA折旧到低的账面价值，但是资产并没有失去生产能力。
Return on common equity(ROCE) focuses on just the return to common shareholders and is computed by removing the dividends to preferred shareholders from net income and dividing by the capital provided by common shareholders.
普通股权益报酬率仅仅关注普通股股东的报酬率，用净收入扣除优先股股利除以普通股股东提供的资本计算得到。
Dividend yield represents parts of
a stock’s total return; another part of a stock’s total return is price appreciation.
代表部分股息率的股票总回报;另一部分是一个股票的总回报价格上涨。
In fact, of all the concepts used in finance, none is more important
than the time value of money, also called discounted cash flow(DCF) analysis.
事实上,财务上所有的概念中，货币时间价值是最重要的，也称作是折现调整现金流量折价分析。
Thus, investors require compensation
for both risk bearing and the
time value of money. These two principles lie at the heart of the financial decision-making concepts.
因此,投资者需要为风险负担和货币时间价值提供补偿，这两个原则的核心在于财务决策的概念。
Interest rates are also often used as riskless or base rates to draw comparison to alternative riskier investments.
利率也常常作为无风险利率或基准利率来对可替代的风险投资进行比较。
Most personal loans, mortgages and credit cards operate on a compounding basis.
大多数个人贷款、抵押贷款和信用卡是以复利计息的。
Therefore, the correct adjustment for an annuity due is to reduce the discounting factor by one and to add to the reduced calculation a non-discounted cash flow stream.
因此,正确的调整年金是为了减少由于贴现因子,增加减少的一个non-discounted计算现金流量
If interest rates move above(below) the bond’s coupon rate, the bond will sell below(above) its par value. 如果利率移动高(低)债券的票面利率,债券将出售低于(以上)其票面金额.
If an annuity not begin its payment in the first period, as with an ordinary annuity, or immediately, as with an ordinary due, then it
is classified as a deferred
annuity-an annuity that begins its cash flow stream subsequent to the first period.
如果一项年金不像普通年金那样在第一期支付，也不像预付年金那样马上支付，那么我们就把它划分为递延年金，这种年金在第一期后的期间支付。
The effective rate of an investment will always be higher than the nominal or stated interest rate when interest is compounded more than once per year.
当利息用复利计算一年多于一年的时候，一项投资的有效利率将永远比名义利率高。Nonetheless, intrinsic value serves as a basis for determining whether to buy or sell a financial asset when compared to its market value or price.
尽管如此,内在价值作为基础,与市场价值或价格作比较，来决定是否购买或卖出一项金融资产。
The value of a financial asset is directly related to the amount of expected cash flows, but inversely related to the amount of risk.
一项金融资产的价值与期望的现金流量正相关，与风险程度负相关。
If interest rates increase, causing the bond price to fall below par, the bondholder may sell the bond back to the issuer at par or a higher price.
如果利率上升,导致债券价格跌破面值,场所将该债券交付可能卖债券回发行人的面值,或一个更高的价格。
In the case of unsecured debt, the bondholders have a claim on the
assets that the issuer has not pledged to other securities.
就信用借贷来说，债券所有人对发行人未抵押给其他担保人的资产有要求全。
An inverse relationship generally exists between the rating and quality of a bond and its interest rate or yield to maturity.
评级和债券的质量与利息率或到期收益率程相反关系。
Common stockholders are the residual owners because their claim to earnings and assets is what remains after satisfying the prior claim of various creditors and preferred stockholders.
普通股股东是剩余所有者，这是因为他们对收益和资产的要求权是在满足各债权人和优先股股东优先选择权后剩余的。
In some instances, existing stockholders have the right, but not the obligation, to share proportionately in the purchase of all new shares of common stock that the company sells.
在某些情况下,现有的股东也有这个权利,但不是义务,在购买比例分享所有新股的公司的普通股票卖出。
Future cash flows may be in the form of cash dividend payments and/or changes in the stock’s
price(gains or losses) over the holding period.
未来现金流的形式可能是现金股利支付和/或改变股票的价格(收益或亏损)控股的时期It suggests investors must forecast dividends to infinite and then discount them back to present
value at the required rate of
return to estimate the value of common stock.
建议投资者必须预测派发股息的无限,然后他们回到现值折扣在所需的收益率的估计
价值普通股。
The greater the variability of the possible returns, the riskier the investment is.
大的可变性的回报，投资将会有冒险性。Investment risk, then, is related to
the probability of actually earning
a low or negative return-the
greater the chance of a low or negative return, the riskier the investment.
投资风险,然后,涉及的概率低或者消极实际获得回报，更大的机会或负回报低,风险投资。
This assumption greatly simplifies investment analysis, as two parameters, the expected return(mean) and the standard deviation(or variance), are sufficient to completely describe the probability distribution
of all financial returns.
这个假设,极大地简化了投资分析的两个参数,预期回报(平均)和标准偏差(或方差),能
够完整地描述所有财务回报的概率分布。Financial theory typically views decision makers as being risk-averse.
A risk-averse decision maker considers a risky investment only
if it provides compensation for risk through a risk premium.
金融理论的观点是典型的决策者风险。一规避风险投资决策者认为只有当它提供补偿风险通过风险溢价。
Rational behavior means that individuals maximize some objective function- their utility function- under the constraints that they face.
理性行为意味着个人一些目标函数最大化效用函数下-他们的效用函数-他们所面临的约束条件的。
In reality, it is probably more likely to be true only for individual or retail investors as opposed to large or institutional investors, and for frequently traded stocks as opposed to thinly traded stocks.
事实上,它可能是更有可能是真的只是为了个人或散户投资者反对大或机构投资者的交易,因为很多股票交易反对稀疏的股票。Based on the type information available to the market, Fama(1970) distinguishes three forms of informationally efficient markets.
基于类型资料提供给市场,现有(1970)区分成三种形式的信息的有效率的市场。Banks, insurance companies, mutual funds, and other financial institutions are required by law to hold diversified portfolios.
银行、保险公司、基金和其他金融机构依法举办多种组合。
As a rule, the riskiness of a portfolio will decline as the number of stocks in the portfolio increases.
一般来说,投资组合的风险也会下降股票的数目在组合增加。
The part of a stock’s risk that can be eliminated is called diversifiable risk, while the part that cannot be eliminated is called market risk.
部分股票的风险可以省略,被称为可分散风险,而无法消除的部分叫做市场风险。
In general, the answer is no, but
the extent to which adding stocks to a portfolio reduces its risk depends in the degree of correlation among the stocks: the smaller the positive correlation coefficients, the lower the risk in
a large portfolio.
通常来说，答案是否定的，但是向证券投资组合中增加股票种类能使风险减小的程度取决于组合中股票的关联性：正相关系数越小，一个大的证券投资组合的风险就越低。In the real world, where the correlations among the individual stocks are generally positive but less than +1.0, some, but not all, risk can eliminated.
在现实世界中,在相关个股通常是积极的,但是低于+ 1.0,有些,但不是全部,风险就会消除。
You find out that by combining two or more securities, the total
risk of the investment can actually be reduced, without reducing the expected pay-off.
你发现结合两个或两个以上的证券,总投资
者的投资风险会减少,而不减少预期的收益。
Most public firms in the United （US）prepare two annual reports。These include the annual report to the Securities and Exchange Commission（SEC）and the shareholder annual report。
在美国大多数上市公司都准备两份年度报告，这包括给证券交易委员会的一份，和给股东的一份。
The balance sheet reports a firm’s assets, and owners’(stockholders’) equity as of a given date, usually at the end of a reporting period.
资产负债表报告的是特定日期公司的资产，负债和所有者权益，通常是在报告期末。
Net income and actual net cash flow may differ because accountants use an accrual accounting process for recognizing revenues and expenses, and because of the treatment of depreciation and taxes. 净利润和实际的净现金流量可能不同，这是因为会计人员用应机制会计过程来确认收入和费用，也可能是因为对折旧和税收的处理不同。Uses the shareholder wealth maximization to take the goal, both has supported the enterprise operation property right foundation, and sufficiently considers and has respected the enterprise funder (shareholder) the reasonable benefit, causes the entire enterprise management and operation to set up in one may hold with above the reality foundation. At the same time, “shareholder wealth maximization” manages finances the goal in the capital market developed environment, also is advantageous for the balance and the operation, the feasibility is strongest.
financial management 财务管理
decision-making 决策，决策的
acquire 获得，取得
publicly traded corporations 公开上市公司公众
vice president of finance 财务副总裁chief financial officer 首席财务官
chief executive officer 首席执行官balance sheet 资产负债表
capital budgeting 资本预算
working capital management 营运资本管理
hurdle rate 最低报酬率
capital structure 资本结构
mix of debt and equity 负债与股票的组合
cash dividend 现金股利
stockholder 股东
dividend policy 股利政策
dividend-payout ratio 股利支付率
stock repurchase 股票回购
stock offering 股票发行
tradeoff 权衡，折中
common stock 普通股
current liability 流动负债
current asset 流动资产
marketable security 流动性资产，有价证券
inventory 存货
tangible fixed assets 有形固定资产
in tangible fixed assets 无形固定资产patent 专利
trademark 商标
creditor 债权人stockholders’ equity股东权益financing mix 融资组合
risk aversion 风险规避
volatility 易变性不稳定性
allocate 配置
capital allocation 资本配置business 企业商业业务
financial risk 财务风险
sole proprietorship 私人业主制企业partnership 合伙制企业
limited partner 有限责任合伙人general partner 一般合伙人separation of ownership and control 所有权与经营权分离
claim 要求主张要求权management buyout 管理层收购tender offer 要约收购
financial standards 财务准则
initial public offering 首次公开发行股票private corporation 私募公司未上市公司
closely held corporation 控股公司board of directors 董事会
executive director 执行董事
non- executive director 非执行董事chairperson 主席
controller 主计长
treasurer 司库
revenue 收入
profit 利润
earnings per share 每股盈余
return 回报
market share 市场份额
social good 社会福利
financial distress 财务困境
stakeholder theory 利益相关者理论
value (wealth) maximization 价值（财富）最大化
common stockholder 普通股股东preferred stockholder 优先股股东
debt holder 债权人
well-being 福利
diversity 多样化
going concern 持续的
agency problem 代理问题
free-riding problem 搭便车问题information asymmetry 信息不对称retail investor 散户投资者
institutional investor 机构投资者
agency relationship 代理关系
net present value 净现值
creative accounting 创造性会计
stock option 股票期权
agency cost 代理成本
bonding cost 契约成本
monitoring costs 监督成本
takeover 接管
corporate annual reports 公司年报balance sheet 资产负债表
income statement 利润表
statement of cash flows 现金流量表statement of retained earnings 留存收益表fair market value 公允市场价值marketable securities 油价证券
check 支票
money order 拨款但、汇款单withdrawal 提款
accounts receivable 应收账款
credit sale 赊销
inventory 存货
property plant and equipment 土地、厂房与设备
depreciation 折旧
accumulated depreciation 累计折旧liability 负债
current liability 流动负债
long-term liability 长期负债
accounts payout 应付账款
note payout 应付票据
accrued expense 应计费用
deferred tax 递延税款
preferred stock 优先股
common stock 普通股
book value 账面价值
capital surplus 资本盈余
accumulated retained earnings 累计留存收益
hybrid 混合金融工具
treasury stock 库藏股
historic cost 历史成本
current market value 现行市场价值
real estate 房地产
outstanding 发行在外的
a profit and loss statement 损益表
net income 净利润
operating income 经营收益
earnings per share 每股收益
simple capital structure 简单资本结构dilutive 冲减每股收益的
basic earnings per share 基本每股收益complex capital structures 复杂的每股收益
diluted earnings per share 稀释的每股收益convertible securities 可转换证券
warrant 认股权证
accrual accounting 应计制会计amortization 摊销
accelerated methods 加速折旧法
straight-line depreciation 直线折旧法statement of changes in
shareholders ’equity股东权益变动表source of cash 现金来源
use of cash 现金运用
operating cash flows 经营现金流
cash flow from operations 经营活动现金流direct method 直接法
indirect method 间接法
bottom-up approach 倒推法
investing cash flows 投资现金流
cash flow from investing 投资活动现金流joint venture 合资企业affiliate 分支机构
financing cash flows 筹资现金流
cash flows from financing 筹资活动现金流time value of money 货币时间价值
simple interest 单利
debt instrument 债务工具
annuity 年金
future value 终值
present value 现值
compound interest 复利
compounding 复利计算
principal 本金
mortgage 抵押
credit card 信用卡
terminal value 终值
discounting 折现计算
discount rate 折现率
opportunity cost 机会成本
required rate of return 要求的报酬率
cost of capital 资本成本
ordinary annuity普通年金
annuity due 先付年金
financial ratio 财务比
率
deferred annuity 递延年金
restrictive covenants 限制性条
款
perpetuity 永续年金
bond indenture 债券契
约
face value 面值
financial analyst 财务分析
师
coupon rate 息票利率
liquidity ratio 流动性比
率
nominal interest rate 名义利率current ratio 流动比
率
effective interest rate 有效利率window dressing 账面粉
饰
going-concern value 持续经营价值marketable securities 短期证
券
liquidation value 清算价值
quick ratio 速动比
率
book value 账面价值
cash ratio 现金比
率
marker value 市场价值
debt management ratios 债务管理比率
intrinsic value 内在价值
debt ratio 债务比
率
mispricing 给……错定价格
debt-to-equity ratio 债务与权益比率valuation approach 估价方法
equity multiplier 权益乘数
discounted cash flow valuation 折现现金流量模型
long-term ratio 长期比
率
undervaluation 低估
debt-to-total-capital 债务与全部资本比
率
overvaluation 高估
leverage ratios 杠杆比
率
option-pricing model 期权定价模型interest coverage ratio 利息保障比
率
contingent claim valuation 或有要求权估价
earnings before interest and taxes 息税前利润
promissory note 本票
cash flow coverage ratio 现金流量保障比率
contractual provision 契约条款
asset management ratios 资产管理比率par value 票面价值
accounts receivable turnover ratio 应收账款周转率
maturity value 到期价值
inventory turnover ratio 存货周转率coupon 息票利息
inventory processing period 存货周转期coupon payment 息票利息支付
accounts payable turnover ratio 应付账款周转率
coupon interest rate 息票利率
cash conversion cycle 现金周转期maturity 到期日
asset turnover ratio 资产周转率
term to maturity 到期时间
profitability ratio 盈利比率
call provision赎回条款
gross profit margin 毛利润
call price 赎回价格
operating profit margin 经营利润sinking fund provision 偿债基金条款
net profit margin 净利润
conversion right 转换权
return on asset 资产收益率
put provision 卖出条款
return on total equity ratio 全部权益报酬率
indenture 债务契约
return on common equity 普通权益报酬率
covenant 条款
market-to-book value ratio 市场价值与账面价值比率
trustee 托管人
market value ratios 市场价值比率protective covenant 保护性条款dividend yield 股利收益率
negative covenant 消极条款
dividend payout 股利支付率
positive covenant 积极条款
financial statement财务报表
secured debt担保借款
profitability 盈利能力
unsecured debt信用借款
viability 生存能力
creditworthiness 信誉
solvency 偿付能力
collateral 抵押品
collateral trust bonds 抵押信托契约debenture 信用债券
portfolio 组合
diversifiable risk 可分散风险
market risk 市场风险
expected return 期望收益
stand-alone risk 个别风险
standard deviation 标准离差
variance 方差
normal distribution 正态分布efficient market hypothesis（EMH）有效市场假设
price taker 价格接受者
investor rationality 投资者的理性institutional investor 机构投资者retail investor 个人，散户投资者anomaly 异常（人或物）
post-earnings announcement drift 期
后盈余披露
behavioral finance 行为财务
expected utility theory 期望效用理论mean-variance efficient frontier 均值-方差有效前沿
covariance 协方差
correlation coefficient 相关系数company-specific factor 公司特有风险arbitrage pricing theory（APT）套利定价理论
常用金融英语词汇的 翻译
常用金融英语词汇的翻译 acquiring company 收购公司 bad loan 呆帐 chart of cash flow 现金流量表 clearly-established ownership 产权清晰 debt to equity 债转股 diversity of equities 股权多元化 economy of scale 规模经济 emerging economies 新兴经济 exchange-rate regime 汇率机制 fund and financing 筹资融资 global financial architecture 全球金融体系 global integration, globality 全球一体化，全球化 go public 上市 growth spurt （经济的）急剧增长 have one's "two commas" 百万富翁 hedge against 套期保值 housing mortgage 住房按揭 holdings 控股，所持股份 holding company 控股公司 initial offerings 原始股 initial public offerings 首次公募 innovative business 创新企业 intellectual capital 智力资本 inter-bank lending 拆借 internet customer 网上客户 investment payoff period 投资回收期 joint-stock 参股 mall rat 爱逛商店的年轻人 means of production 生产要素 (the)medical cost social pool for major diseases 大病医疗费用社会统筹mergers and acquisitions 并购
会计专业词汇英语翻译 今天是2011年8月5日星期五2011年8月4日星期四| 首页| 财经英语| 视听| 课堂| 资源| 互动| 动态| 在线电影| 英语论坛| 英语角| 8 您现在的位置：西财英语>>财经英语学习>>会计英语>>文章正文 专题栏目 财经词汇 文献专题 财经词汇 文献专题 最新热门 母亲节专题 会计英语词汇漫谈（六） 会计英语词汇漫谈（五） 金融专业名词翻译（八） 金融专业名词翻译（七） 商务英语口语（十四） 商务英语口语（十三） 席慕容《一棵开花的树》（… 放松，微笑，创造 [图文]跳舞学数学函数图象… 最新推荐 体育英语——水上运动英语 外贸常用词语和术语（五） 外贸常用词语和术语（四） 商务英语email高手如何询… 外贸常用词语和术语（三） 外贸常用词语和术语（二） 外贸常用词语和术语（一） 外国经典名著导读《完》附… 外国经典名著导读31-40 外国经典名著导读21-30
相关文章 会计英语词汇漫谈（六） 会计英语词汇漫谈（五） 会计英语词汇漫谈（四） 会计专业词汇英语翻译 政治风险political risk 再开票中心re-invoicing center 现代管理会计专门方法special methods of modern management accounting 现代管理会计modern management accounting 提前与延期支付Leads and Lags 特许权使用管理费fees and royalties 跨国资本成本的计算the cost of capital for foreign investments 跨国运转资本会计multinational working capital management 跨国经营企业业绩评价multinational performance evaluation 经济风险管理managing economic exposure 交易风险管理managing transaction exposure 换算风险管理managing translation exposure 国际投资决策会计foreign project appraisal 国际存货管理international inventory management 股利转移dividend remittances 公司内部贷款inter-company loans 冻结资金转移repatriating blocked funds 冻结资金保值maintaining the value of blocked funds 调整后的净现值adjusted net present value 配比原则matching 旅游、饮食服务企业会计accounting of tourism and service 施工企业会计accounting of construction enterprises 民航运输企业会计accounting of civil aviation transportation enterprises 企业会计business accounting 商品流通企业会计accounting of commercial enterprises 权责发生制原则accrual basis 农业会计accounting of agricultural enterprises 实现原则realization principle 历史成本原则principle of historical cost 外商投资企业会计accounting of enterprises with foreign investment 通用报表all-purpose financial statements 铁路运输企业会计accounting of rail way transportation enterprises
Financial management is an integrated decision-making process concerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity. 财务管理是为了实现一个公司总体目标而进行的涉及到获取、融资和资产管理的综合决策过程。 Decisions involving a firm’s short-term assets and liabilities refer to working capital management. 决断涉及一个公司的短期的资产和负债提到营运资金管理 The firm’s long-term financing decisions concern the right-hand side of the balance sheet. 该公司的长期融资决断股份资产负债表的右边。 This is an important decision as the legal structure affects the financial risk faced by the owners of the company. 这是一个重要的决定作为法律结构影响金融风险面对附近的的业主的公司。 The board includes some members of top management(executive directors), but should also include individuals from outside the company(non-executive directors). 董事会包括有些隶属于高层管理人员(执行董事)，但将也包括个体从外公司(非执行董事)。 Maximization of shareholder wealth focuses only on stockholders whereas maximization of firm value encompasses all financial claimholders including common stockholders, debt holders, and preferred stockholders. 股东财富最大化只集中于股东，而企业价值最大化包含所有的财务债券持有者，包括普通股股东，债权人和优先股股东。 Given these assumptions，shareholders’ wealth maximization is consistent with the best interests of stakeholders and society in the long run。 根据这些假设，从长期来看，股东财富最大化与利益相关者和社会的最好利润是相一致的。 No competing measure that can provide as comprehensive a measure of a firm’s standi ng. Given these assumptions, shareholders’ wealth maximization is consistent with the best interests of stakeholders and society in the long run. 没有竞争措施，能提供由于全面的一个措施的一个公司的站。给这些臆说，股东'财富最大化一贯不比任何人差项目干系人项目利益相关者的利益，社会从长远说来。 In reality, managers may ignore the interests of shareholders, and choose instead to make investment and financing decisions that benefit themselves. 在现实中，经理可能忽视股东的利益，而是选择利于自身的投资和融资决策。 Financial statements are probably the important source of information from which these various stakeholders(other than management) can assess a firm’s financial health. 财务报表可能是最重要的信息来源，除管理者以外的各种利益相关者可以利用这些报表来评估一个公司的财务状况。 The stockholders’ equity section lists preferred stock, common stock and capital surplus and accumulated retained earnings. 股东权益列示有优先股，普通股，资本盈余和累积留存收益。 The assets, which are the “things” the company owns, are listed in the order of decreasing liquidity, or length of time it typically takes to convert them to cash at fair market values, beginning with the firm’s current assets. 资产，也就是公司拥有的东西，是按照流动性递减的顺序或将它们转换为公允市场价值所需要的时间来排列的，通常从流动资产开始。The market value of a firm’s equity is equal to the number of shares of common stock outstanding times the price per share, while the amoun t reported on the firm’s balance sheet is basically the cumulative amount the firm raised when issuing common stock and any reinvested net income(retained earnings). 公司权益的市场价值等于其发行在外的普通股份数乘以每股价格，而资产负债表上的总额则主要是公司在发行普通股以及分配任何再投资净收益（留存收益）时累积的数额。 When compared to accelerated methods, straight-line depreciation has lower depreciation expense in the early years of asset life, which tends to a higher tax expense but higher net income. 与加速折旧法相比,直线折旧法在资产使用年限的早期折旧费用较低，这也会趋向于较高的税金费用和较高的净收入。 The statement of cash flows consists of three sections:(1)operating cash flows,(2)investing cash flows, and(3)financing cash flows. Activities in each area that bring in cash represent sources of cash while activities that involve spending cash are uses of cash. 该声明现金流量表包含三个部分:(1)经营现金流,(2)投资的现金流,(3)融资现金流。在每个地区活动带来现金来源的现金而代表活动涉及到花钱是使用现金 Financing activities include new debt issuances, debt repayments or retirements, stock sales and repurchases, and cash dividend payments. 筹资活动,包括发行新债券，偿还债务，股票销售和回购，以及现金股利支付。 Not surprisingly, Enron’s executives had realized some $750 million in salaries, bonuses and profits from stock options in the 12 months before the company went bankrupt. 毫不奇怪, 公司破产前的十二个月里，安然的高管们实现了7.5亿美金的工资、奖金和股票期权利润。First, financial ratios are not standardized. A perusal of the many financial textbooks and other sources that are available will often show differences in how to calculate some ratios. 首先,财务比率不规范。一个参考的许多金融教科书及来源,可将经常表现出差异如何计算一些率。 Liquidity ratios indicate a firm’s ability to pay its obligations in the short run. 流动性比率表明公司的支付能力在短期内它的义务。 Excessively high current ratios, however, may indicate a firm may have too much of its long-term investor-supplied capital invested in short-term low-earning current assets. 当前的比率过高,然而,可能表明,一个公司可能有太多的长期 investor-supplied资本投资于短期low-earning流动资产 In an inflationary environment, firms that use last-in, first-out(LIFO)inventory valuation will likely have lower current ratios than firms that use first-in, first-out(FIFO). 在一个通货膨胀的环境下,企业选择使用后进先出法对存货计价的公 司比采用先进先出法的公司有一个低的流动比率。 The cash ratio is too conservative to accurately reflect a firm’s liquidity position because it assumes that firms can fund their current liabilities with only cash and marketable securities. 流动比率太稳健不能正确反映一个公司的流动性状况，因为在这一比率假定公司仅仅用现金和有价证券就可以偿还流动负债。 Debt management ratios characterize a firm in terms of the relative mix of debt and equity financing and provide measures of the long-term debt paying ability of the firm. 描述一个公司债务管理比率从相对的混合的债务和股权融资的措施, 提供长期偿债能力的公司。 Total capital includes all non-current liabilities plus equity, and thus excludes short-term debt. 资本总额包括所有非流动负债加上股本,从而排除短期贷款。 Net profit margins vary widely by the type of industry. 有着很大的不同,其净利润为典型的产业。 Note that earnings before interest and taxes, rather than net income, Is used in the numerator because interest is paid with pre-tax dollars, and the firm’s ability to pay current interest is not affected by taxes. 注意,分子中用的是息税前利润而不是净收入，这是因为利息是税前支付的，公司支付现金利息的能力不受税收的影响。 Managers should analyze the tradeoff between any increased sales from a more lenient credit policy and the associated costs of longer collection periods and more uncollected receivables to determine whether changing the firm’s credit sales policy could increase shareholder’s we alth. 管理者应该分析权衡增加的销售从一个更为宽松的信贷政策和相关费用较长的周期和更多的应收账款收集来决定是否改变公司的信用销售的政策可能会增加股东的财富。 If the receivables collection period exceeds a firm’s credit terms this may indicate that a firm is ineffective in collecting its credit sales or is granting credit to marginal customers. 如果应收账款采集时间超过公司的信用条款这也许说明了企业信用销售收集它无效或给予客户信用边缘。 A low, declining ratio may suggest the firm has continued to build up inventory in the face of weakening demand or may be carrying and reporting outdated or obsolete inventory that could only be sold at reduced prices, if at all. 一个低税率、下降率可能显示这个公司已经持续不断地加强库存面对需求不断减弱或可能携带和报告过期或过时的库存,只能减价出售。Thus, the operating profit margin, which indicates the operating profit generated per dollar of net sales, measures t he firm’s operating profitability before financing costs. 因此,经营利润,预示着美元营业利润产生的净销售额,公司的经营利润措施在融资成本。 If the firm’s fixed assets are old and have been depreciated to a low book value, and the assets have not lost their productive ability, the low figure in the denominator will inflate ROA. 如果公司固定资产比较旧,分母的减少会是ROA折旧到低的账面价值，但是资产并没有失去生产能力。 Return on common equity(ROCE) focuses on just the return to common shareholders and is computed by removing the dividends to preferred shareholders from net income and dividing by the capital provided by common shareholders. 普通股权益报酬率仅仅关注普通股股东的报酬率，用净收入扣除优先股股利除以普通股股东提供的资本计算得到。 Dividend yield represents parts of a stock’s total return; another part of a st ock’s total return is price appreciation. 代表部分股息率的股票总回报;另一部分是一个股票的总回报价格上涨。 In fact, of all the concepts used in finance, none is more important than the time value of money, also called discounted cash flow(DCF) analysis. 事实上,财务上所有的概念中，货币时间价值是最重要的，也称作是折现调整现金流量折价分析。
Chapter 1 Passage 1 Human Body In this passage you will learn: 1. Classification of organ systems 2. Structure and function of each organ system 3. Associated medical terms To understand the human body it is necessary to understand how its parts are put together and how they function. The study of the body's structure is called anatomy; the study of the body's function is known as physiology. Other studies of human body include biology, cytology, embryology, histology, endocrinology, hematology, immunology, psychology etc. 了解人体各部分的组成及其功能，对于认识人体是必需的。研究人体结构的科学叫解剖学；研究人体功能的科学叫生理学。其他研究人体的科学包括生物学、细胞学、胚胎学、组织学、内分泌学、血液学、遗传学、免疫学、心理学等等。 Anatomists find it useful to divide the human body into ten systems, that is, the skeletal system, the muscular system, the circulatory system, the respiratory system, the digestive system, the urinary system, the endocrine system, the nervous system, the reproductive system and the skin. The principal parts of each of these systems are described in this article. 解剖学家发现把整个人体分成骨骼、肌肉、循环、呼吸、消化、泌尿、内分泌、神经、生殖系统以及感觉器官的做法是很有帮助的。本文描绘并阐述了各系统的主要部分。 The skeletal system is made of bones, joints between bones, and cartilage. Its function is to provide support and protection for the soft tissues and the organs of the body and to provide points of attachment for the muscles that move the body. There are 206 bones in the human skeleton. They have various shapes - long, short, cube - shaped, flat, and irregular. Many of the long bones have an interior space that is filled with bone marrow, where blood cells are made. 骨骼系统由骨、关节以及软骨组成。它对软组织及人体器官起到支持和保护作用，并牵动骨胳肌，引起各种运动。人体有206根骨头。骨形态不一，有长的、短、立方的、扁的及不规则的。许多长骨里有一个内层间隙，里面充填着骨髓，这即是血细胞的制造场所。 A joint is where bones are joined together. The connection can be so close that no movement is possible, as is the case in the skull. Other kinds of joints permit movement: either back and forth in one plane - as with the hinge joint of the elbow - or movement around a single axis - as with the pivot joint that permits the head to rotate. A wide range of movement is possible when the ball - shaped end of one bone fits into a socket at the end of another bone, as they do in the shoulder and hip joints. 关节把骨与骨连接起来。颅骨不能运动，是由于骨与骨之间的连接太紧密。但其它的关节可允许活动，如一个平面上的前后屈伸运动，如肘关节；或是绕轴心旋转运动，如枢轴点允许头部转动。如果一根骨的球形末端插入另一根骨的臼槽里，大辐度的运动（如肩关节、髋关节）即成为可能。 Cartilage is a more flexible material than bone. It serves as a protective, cushioning layer where bones come together. It also connects the ribs to the breastbone and provides a structural base for the nose and the external ear. An infant's skeleton is made of cartilage that is gradually replaced by bone as the infant grows into an adult. 软骨是一种比一般骨更具韧性的物质。它是骨连结的保护、缓冲层。它把肋骨与胸骨连结起来，也是鼻腔与内耳的结构基础。一个婴儿的骨骼就是由软骨组成，然后不断生长、
Datasheet中常用英语词汇翻译 序号英文术语中文术语 1 backplane 背板 2 Band gap voltage reference 带隙电压参考 3 benchtop supply 工作台电源 4 Block Diagram 方块图 5 Bode Plot 波特图 6 Bootstrap 自举 7 Bottom FET Bottom FET 8 bucket capcitor 桶形电容 9 chassis 机架 10 Combi-sense Combi-sense 11 constant current source 恒流源 12 Core Sataration 铁芯饱和 13 crossover frequency 交*频率 14 current ripple 纹波电流 15 Cycle by Cycle 逐周期 16 cycle skipping 周期跳步 17 Dead Time 死区时间 18 DIE Temperature 核心温度 19 Disable 非使能，无效，禁用，关断 20 dominant pole 主极点 21 Enable 使能，有效，启用 22 ESD Rating ESD额定值
23 Evaluation Board 评估板 24 Exceeding the specifications below may result in permanent damage to the device, or device malfunction. Operation outside of the parameters specified in the Electrical Characteristics section is not implied. 超过下面的规格使用可能引起永久的设备损害或设备故障。建议不要工作在电特性表规定的参数范围以外。 25 Failling edge 下降沿 26 figure of merit 品质因数 27 float charge voltage 浮充电压 28 flyback power stage 反驰式功率级 29 forward voltage drop 前向压降 30 free-running 自由运行 31 Freewheel diode 续流二极管 32 Full load 满负载 33 gate drive 栅极驱动 34 gate drive stage 栅极驱动级 35 gerber plot Gerber 图 36 ground plane 接地层 37 Henry 电感单位：亨利 38 Human Body Model 人体模式 39 Hysteresis 滞回 40 inrush current 涌入电流 41 Inverting 反相 42 jittery 抖动 43 Junction 结点 44 Kelvin connection 开尔文连接
财务风险管理 尽管近年来金融风险大大增加，但风险和风险管理不是当代的主要问题。全球市场越来越多的问题是，风险可能来自几千英里以外的与这些事件无关的国外市场。意味着需要的信息可以在瞬间得到，而其后的市场反应，很快就发生了。经济气候和市场可能会快速影响外汇汇率变化、利率及大宗商品价格，交易对手会迅速成为一个问题。因此，重要的一点是要确保金融风险是可以被识别并且管理得当的。准备是风险管理工作的一个关键组成部分。 什么是风险？ 风险给机会提供了基础。风险和暴露的条款让它们在含义上有了细微的差别。风险是指有损失的可能性，而暴露是可能的损失，尽管他们通常可以互换。风险起因是由于暴露。金融市场的暴露影响大多数机构，包括直接或间接的影响。当一个组织的金融市场暴露，有损失的可能性，但也是一个获利或利润的机会。金融市场的暴露可以提供战略性或竞争性的利益。 风险损失的可能性事件来自如市场价格的变化。事件发生的可能性很小，但这可能导致损失率很高，特别麻烦，因为他们往往比预想的要严重得多。换句话说，可能就是变异的风险回报。由于它并不总是可能的，或者能满意地把风险消除，在决定如何管理它中了解它是很重要的一步。识别暴露和风险形式的基础需要相应的财务风险管理策略。 财务风险是如何产生的呢？ 无数金融性质的交易包括销售和采购，投资和贷款，以及其他各种业务活动，产生了财务风险。它可以出现在合法的交易中，新项目中，兼并和收购中，债务融资中，能源部分的成本中，或通过管理的活动，利益相关者，竞争者，外国政府，或天气出现。当金融的价格变化很大，它可以增加成本，降低财政收入，或影响其他有不利影响的盈利能力的组织。金融波动可能使人们难以规划和预算商品和服务的价格，并分配资金。 有三种金融风险的主要来源： 1、金融风险起因于组织所暴露出来的市场价格的变化，如利率、汇率、和大宗商品价格。 2、引起金融风险的行为有与其他组织的交易如供应商、客户，和对方在金融衍生产品中的交易。 3、由于内部行动或失败的组织，特别是人、过程和系统所造成的金融风险。 什么是财务风险管理？ 财务风险管理是用来处理金融市场中不确定的事情的。它涉及到一个组织所面临的评估和组织的发展战略、内部管理的优先事项和当政策一致时的财务风险。企业积极应对金融风险可以使企业成为一个具有竞争优势的组织。它还确保管理，业务人员，利益相关者，董事会董事在对风险的关键问题达成协议。金融风险管理组织就必须作出那些不被接受的有关风险的决定。那些被动不采取行动的战略是在默认情况下接受所有的风险，组织使用各种策略和产品来管理金融风险。重要的是要了解这些产品和战略方面，通过工作来减少该组织内的风险承受能力和目标范围内的风险。 风险管理的策略往往涉及衍生工具。在金融机构和有组织的交易所，衍生物广泛地进行
第二部分 控制理论 第1章 1.1控制系统的引入 人类控制自然力量的设计促进人类历史的发展,我们已经广泛的能利用这种量进行在人类本身力量之外的物理进程?在充满活力的20世纪中,控制系统工程的发展已经使得很多梦想成为了现实?控制系统工程队我们取得的成就贡献巨大?回首过去,控制系统工程主要的贡献在机器人,航天驾驶系统包括成功的实现航天器的软着陆,航空飞机自动驾驶与自动控制,船舶与潜水艇控制系统,水翼船?气垫船?高速铁路自动控制系统,现代铁路控制系统? 以上这些类型的控制控制系统和日常生活联系紧密,控制系统是一系列相关的原件在系统运行的基础上相互关联的构成的,此外控制系统存在无人状态下的运行,如飞机自控驾驶,汽车的巡航控制系统?对于控制系统,特别是工业控制系统,我们通常面对的是一系列的器件,自动控制是一个复合型的学科?控制工程师的工作需要具有力学,电子学,机械电子,流体力学,结构学,无料的各方面的知识?计算机在控制策略的执行中具有广泛的应用,并且控制工程的需求带动了信息技术的与软件工程的发展? 通常控制系统的范畴包括开环控制系统与闭环控制系统,两种系统的区别在于是否在系统中加入了闭环反馈装置? 开环控制系统 开环控制系统控制硬件形式很简单,图2.1描述了一个单容液位控制系统, 图2.1单容液位控制系统 我们的控制目标是保持容器的液位h 在水流出流量V 1变化的情况下保持在一定 可接受的范围内,可以通过调节入口流量V 2实现?这个系统不是精确的系统,本系 统无法精确地检测输出流量V 2,输入流量V 1以及容器液位高度?图2.2描述了这 个系统存在的输入(期望的液位)与输出(实际液位)之间的简单关系, 图2.2液位控制系统框图 这种信号流之间的物理关系的描述称为框图?箭头用来描述输入进入系统,以及
.' Lexicology the is into linguistics, inquiring a branch of origins and meanings of words. Morphology different their and the : study of morpheme forms. Semantics the study of word meaning. ：Etymology: the study of the origin of words, and of their history and changes in their meaning. Stylistics : the study of the variation in language which is dependent on the situation in which the language is used and also on the effect the writer or speaker wishes to create on the reader or hearer Lexicography : the compiling of dictionaries. Synchronic study one or words at a : the study of word particular point in time. Diachronic study studies which to : an approach lexicology how a word (or words) changes over a period of time.
会计方面专业术语的xx acceptance承兑 account账户 accountant会计员 accounting会计 accounting system会计制度 accounts payable应付账款 accounts receivable应收账款 accumulated profits累积利益 adjusting entry调整记录 adjustment调整 administration expense管理费用 advances预付 advertising expense广告费 agency代理 agent代理人 agreementxx allotments分配数 allowance津贴 amalgamation合并 amortization摊销
amortized cost应摊成本 annuities年金 applied cost已分配成本 applied expense已分配费用 applied manufacturing expense己分配制造费用apportioned charge摊派费用 appreciation涨价 article of association公司章程 assessment课税 assets资产 attorney fee律师费 audit审计 auditor审计员 average平均数 average cost平均成本 bad debt坏账 balance余额 balance sheet资产负债表 bank account银行账户 bank balance银行结存 bank charge银行手续费
bank deposit银行存款 bank discount银行贴现bank draft银行汇票 bank loan银行借款 bank overdraft银行透支bankers acceptance银行承兑bankruptcy破产 bearer持票人 beneficiary受益人 bequest遗产 bill票据 bill of exchange汇票 bill of lading提单 bills discounted贴现票据bills payable应付票据 bills receivable应收票据board of directors董事会bonds债券 bonus红利 book value账面价值bookkeeper簿记员
毕业设计（论文） 外文文献翻译 文献、资料中文题目：财务管理和财务分析 文献、资料英文题目： 文献、资料来源： 文献、资料发表（出版）日期： 院（部）： 专业：财务管理 班级： 姓名： 学号： 指导教师： 翻译日期： 2017.02.14
外文翻译原文 Financial Management and Analysis is an introduction to the concepts,tools, and applications of finance. The purpose of this textbook is to communicate the fundamentals of financial management and financial analysis.This textbook is written in a way that will enable students who are just beginning their study of finance to understand financial decision-making and its role in the decision-making process of the entire firm. Throughout the textbook, you’ll see how we view finance.We see financial decision-making as an integral part of the firm’s decision-making, not as a separate function. Financial decision-making involves coordination among personnel specializing in accounting, marketing, and production aspects of the firm. The principles and tools of finance are applicable to all forms and sizes of business enterprises, not only to large corporations. Just as there are special problems and opportunities for small family-owned businesses(such as where to obtain financing), there are special problems and opportunities for large corporations (such as agency problems that arise when management of the firm is separated from the firm’s owners). But the fundamentals of financial management are the same regardless of the size or form of the business. For example, a dollar today is worth more than a dollar one year from today, whether you are making