笔试题
考试题型：
一、从下列选项中选出最佳答案(40x1.5=60分)
二、计算题（10x2=20分）
三、段落中英互译（5x4=20分）
Part I Choice questions 40x1.5=60 points) (Please write your answer in the following table)
1. Financial statement does not include ( )
A. balance sheet
B. income statement
C. cash flow statement
D. working sheet
2. An increase in which one of the following will increase the operating cash flow?
A.employee salaries
B. office rent
C. building maintenance
D. equipment depreciation
3. The process of planning and managing a firm’s long-term investments is called:
A. working capital management.
B. financial depreciation.
C. capital budgeting.
D. capital structure.
4. Cash equivalents include ( )
A. time deposits
B. inventories
C. accounts receivable
D. prepaid expenses
5. The internal rate of return for a project will increase if:
A. the initial cost of the project can be reduced.
B. the total amount of the cash inflows is reduced.
C. the required rate of return is reduced.
D. the salvage value of the project is omitted from the analysis.
6. Which of the following belongs to current liabilities?( )
A. mortgages payable
B. prepaid expenses
C. notes payable
D. bonds payable
7. You spent $500 last week fixing the transmission in your car. Now, the brakes are acting up and you are trying to decide whether to fix them or trade the car in for a newer model. In analyzing the brake situation, the $500 you spent fixing the transmission is a(n) ___ cost.
A. opportunity
B. sunk
C. incremental
D. fixed
8. Which of the following statements are correct concerning diversifiable
risks?
I. Diversifiable risks can be essentially eliminated by investing in
several securities.
II. The market rewards investors for diversifiable risk by paying a risk premium.
III. Diversifiable risks are generally associated with an individual
firm or industry.
IV. Beta measures diversifiable risk.
A. I and III only
B. II and IV only
C. I and IV only
D. II and III only
9. Which of the following is a liability account?（）
A. prepaid insurance
B. additional paid-in capital
C. salaries payable
D. accumulated depreciation
10. Accountants employed by large corporations may work in the areas of
the following except ( )
A. product costing and pricing
B. budgeting
C. internal auditing
D. product producing
11. A corporation’s first sale of equity made available to the public
is called a(n):（）
A. share repurchase program.
B. private placement.
C. initial public offering (IPO).
D.seasoned equity offering (SEO).
12. Standard deviation measures ____ risk.
A. total
B. nondiversifiable
C. unsystematic
D. systematic
13. ( ) is the value at some future time of a present amount of money,
or a series of payments, evaluated at a given interest rate.
A. future value
B. present value
C. intrinsic value
D.
market value
14. Ellesmere Corporation issues 1 million $1 par value bonds. The stated
interest rate is 8% per year and the interest is paid twice a year. What
is the real interest rate of the bond? ( )
A. 6%
B.4%
C. 10%
D. (1+8%/2)2-1
15. Your firm purchased a warehouse for $335,000 six years ago. Four years
ago, repairs were made to the building which cost $60,000. The annual taxes on the property are $20,000. The warehouse has a current book value of $268,000 and a market value of $295,000. The warehouse is totally paid for and solely owned by your firm. If the company decides to assign this warehouse to a new project, what value, if any, should be included in the initial cash flow of the project for this building? （）
A. $268,000
B. $295,000
C. $395,000
D. $515,000
16.Which one of the following will decrease the operating cycle?
A. paying accounts payable faster
B. discontinuing the discount given for early payment of an accounts receivable
C. decreasing the inventory turnover rate
D. collecting accounts receivable faster
17. Assume that dividends of a common stock will be maintained at D forever, and the required return of the stockholder is r, the par value of the stock is m, the value of the stock is ( )
A. m
B. m+D
C. m+D/r
D. D/r
18. Which of the following items has the most risk? ( )
A. treasury bill
B. corporate bond
C. preferred stock
D. common stock
19. ( ) equals the gross profit divided by net sales of a firm.
A. gross profit margin
B. net profit margin
C. return on investment
D. return on equity
20. ( ) is the ratios that measure a firm’s ability to meet short-term obligations
A. liquidity ratios
B. leverage ratios
C. coverage ratios
D. activity ratios
21.Sensitivity analysis helps you determine the:
A. range of possible outcomes given possible ranges for every variable.
B. degree to which the net present value reacts to changes in a single variable.
C. net present value given the best and the worst possible situations.
D. degree to which a project is reliant upon the fixed costs.
22. According GAAP revenue is recognized as income when: （）
A. a contract is signed to perform a service or deliver a good.
B. the transaction is complete and the goods or services delivered.
C. payment is received.
D. income taxes are paid.
E. all of the above.
23. ( ) is the result of Net Profit Margin × total asset turnover × (total assets/shareholders’ equity)
A. Return on equity
B. return on investment
C. current ratio
D. quick ratio
24. Government tax law adjustment is ( ) to a firm.
A. general economic risk
B. inflation and deflation risk
C.
firm-specific risk
25.Which of the following statements concerning the income statement is
not true?
A. It measures performance over a specific period of time.
B. It determines after-tax income of the firm.
C. It includes deferred taxes.
D. It does not include depreciation.
E. it treats interest as an expense.
26.Which of the following is not a noncash deduction?
A. Depreciation.
B. Deferred taxes.
C. Interest.
D. Two of the above
E. All of the above.
27.Sasha Corp had an ROA of 10%. Sasha’s profit margin was 6% on sales
of $180. What are total assets? （）
A.$300
B.$108
C.$48. D$162.
28. Calculate net income based on the following information ( )
Sales = $200.00
Cost of goods sold = $100.00
Depreciation = $18.00
Interest paid = $25.00
Tax rate = 34%
A. $16.50
B. $37.62
C. $34.60
D. $4.60
29.Which of the following is not true? （）
A. Financial markets can be used to adjust consumption patterns over time.
B. Corporate investment decisions have nothing to do with financial markets,
C. Financial markets deal with cash flows over time.
D. Investment decisions rely on the economic principles of financial markets.
E. None of the above.
30. ( ) is concerned with the acquisition, financing, and management of assets with some overall goal in mind.
A. Financial management
B. Profit maximization
C. Agency theory
D. Social responsibility
31. A major disadvantage of the corporate form of organization is the ( ).
A. double taxation of dividends
B. inability of the firm to raise large sums of additional capital
C. limited liability of shareholders
D. limited life of the corporate form.
32. Interest paid (earned) on both the original principal borrowed (lent) and previous interest earned is often referred to as ( ).
A. present value
B. simple interest
C. future value
D. compound interest
33. If the intrinsic value of a share of common stock is less than its market value, which of the following is the most reasonable conclusion? ( )
A. The stock has a low level of risk.
B. The stock offers a high dividend payout ratio.
C. The market is undervaluing the stock.
D. The market is overvaluing the stock.
34. A 250 face value share of preferred stock, pays a 20 annual dividend and investors require a 7% return on this investment. If the security is currently selling for 276, what is the difference (overvaluation) between its intrinsic and market value (rounded to the nearest whole dollar)?
A. approximately 26
B. approximately 10
C. approximately 6
D. approximately 1
35. Felton Farm Supplies, Inc., has an 8 percent return on total assets of 480,000 and a net profit margin of 6percent. What are its sales? ( )
A. 3,750,000
B.640,000
C. 480,000
D. 1,500,000
36. A company can improve (lower) its debt-to-total asset ratio by doing which of the following?
A. Borrow more.
B. Shift short-term to long-term debt.
C. Shift long-term to short-term debt.
D. issue common stock.
37. The DuPont Approach breaks down the earning power on shareholders' book value (ROE) as follows: ROE = ( ).
A. Net profit margin × Total asset turnover × Equity multiplier
B. Total asset turnover × Gross profit margin × Debt ratio
C. Total asset turnover × Net profit margin
D. Total asset turnover × Gross profit margin × Equity multiplier
38. Which of the following items concerns financing decision? ( )
A. sales forecasting
B. bond issuing
C. receivables collection
D. investment project selection
39. Which of the following items is the function of a treasurer? ( )
A. cost accounting
B. internal control
C. capital budgeting
D. general ledger
40. For financial instruments, ( ) is judged in relation to the ability to sell a significant volume of securities in a short period of time without significant price concession.
A. maturity
B. marketability
C. default
D. inflation
Part II: Calculation Questions (10x2 points)（注意：要写出计算公式和
计算过程，否则不得分；需要用文字描述的问题回答内容要详细，语句正确、
完整。）
1、The most recent financial statements for company CCC are shown here ($):
1）Compute the following ratios:
Current ratio:
Total debt ratio
Total asset turnover
Profit margin
Equity multiplier
ROA
ROE
2）Using Du Pont Identity to compute the ROE
2. A Microgats Industries bond has a 10% coupon rate and a $1,000 face value. Coupons are paid semiannually, and the bond has 20 years to maturity. If investor required a 12% yield, what’s the bond’s value?
(P/A, 6%, 40)=15.0463 (P/F, 6%, 40) = 0.0972
(P/A, 12%, 20)=7.4694 (P/F, 12%, 20) = 0.1037
Part III Translation (将下面的topic 由英文翻译成中文或者由中文翻译成英文，5x4=20 points)
Topic 1 Introduction to Financial Management
Financial management is an integrated decision-making process concerned with acquiring, financing, and managing assets to accomplish some overall goal within a business entity. Other names for financial management include managerial finance, corporate finance, and business finance. Making financial decisions is an integral part of all forms and sizes of business organizations from small privately-held firms to large publicly-traded corporations（翻译成中文）
Topic 2
A corporation is a legal entity separate from its owners. This means that the corporation can own assets, enter into contracts, sue and be sued. Being a separate legal entity also implies that corporate income is taxable, thus giving rise to double taxation, i.e., corporate tax on profits plus personal tax on after-corporate-tax profits distributed to shareholders (the exception being a full imputation system). There is a separation of ownership (shareholders) and control (managers). Shareholders who hold shares in a corporation own the corporation. Shares represent a claim to corporate profits, which are distributed in the form of dividends, share repurchases, or acquisition payout, (e.g., management buyouts and tender offers). Shareholders have limiter liability. 翻译成中文）
Topic 3
公司资产负债表报告的价值大部分都是账面价值，账面价值基于历史成本或原始价值。资产的历史成本是公司购买资产时支付的价格。负债的历史成本是公司负有偿还责任时的金额。（翻译成英文）
Topic 4
市盈率反映普通股股东愿意为每一美元净利润支付的价格，为预测一个企业的成长和获利机会提供了重要的信息。未来具有较强获利机会的高增长公司希望较高的市盈率，但是它有几个潜在的缺点。例如，一个企业的收入是负的，那么市盈率就毫无意义。另外，管理者可以通过会计惯例允许的酌情处理权利来歪曲报告。（翻译成英文）
Accession Tax 财产增值税、财产增益税 Additional Tax 附加税 Admission Tax 入场税 Allowable Tax Credit 税款可抵免税;准予扣除税额 Amended Tax Return 修正后税款申报书 Animal Slaughter Tax 动物屠宰税 Annual Income Tax Return 年度所得税申报表 Assessed Tax. 估定税额 Assessment of Tax 税捐估定 Asset Tax 资产税 Back Tax 欠缴税款;未缴税额 Business Tax （工商）营业税;工商税 Capital Tax 资本税:<美>按资本额稽征;<英>指资本利得税和资本转让税（＝[缩]CTT）<英>资本转让税 Capital Transfer Tax 资本转移税;资本过户税 Company Income Tax / Company Tax 公司所得税 Corporate Profit Tax / Corporation Profit Tax 公司利润税;公司利得税 Corporate Profits After Taxes <美>公司税后利润（额）;公司税后收益（额） Corporate Profits Before Taxes <美>公司税前利润（额）;公司税前收益（额）Corporation Tax Act <美>公司税法 Corporation Tax Rate 公司税税率 Deferred Income Tax 递延所得税 Deferred Income Tax Liability 递延所得税负债 Deferred Tax 递延税额;递延税额 Development Tax 开发税;发展税 Direct Tax 直接税 Dividend Tax 股利税;股息税
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。
财务管理术语表 Absorption costing 吸收成本法： Total Cost Methods全部成本法: 将某会计期间发生的固定成本除以销售量，得出单位产品的固定成本，再加上单位变动成本，算出单位产品的总成本。 Accounting 会计：对企业活动的财务信息进行测量和综合，从而向股东、经理和员工提供企业活动的信息。请参看管理会计和财务会计。 Accounting convention会计原则:会计师在会计报表的处理中所遵循的原则或惯例。正因为有了这些原则，不同企业的会计报表以及同一企业不同时期的会计报表才具有可比性。如果会计原则在实行中发生了一些变化，那么审计师就应该在年度报表附注中对此进行披露。 Accounts 会计报表和账簿: 这是英国的叫法，在美国，会计报表或财务报表叫做Financial Statements,是指企业对其财务活动的记录。Chief financial officer Accounts payable应付账款: 这是美国的叫法，在英国，应付账款叫做Creditors，是指公司从供应商处购买货物、但尚未支付的货款。 Accounts receivable 应收账款:这是美国的叫法，在英国，应收账款叫做Debtors,是指客户从公司购买商品或服务，公司已经对其开具发票，但客户尚未支付的货款。 Accrual accounting 权责发生制会计:这种方法在确认收入和费用时，不考虑交易发生时有没有现金流的变化。比如，公司购买一项机器设备，要等到好几个月才支付现金，但会计师却在购买当时就确认这项费用。如果不使用权责发生制会计，那么该会计系统称作“收付制”或“现金会计”。Accumulated depreciation 累计折旧:它显示截止到目前为止的折旧总额。将资产成本减去累计折旧，所得结果就是账面净值。 Acid test 酸性测试:这是美国的叫法，请参看quick ratio速动比率（英国叫法）。 Activity ratio 活动比率: 资产周转率，即销售收入除以净资产（或总资产）。它表明企业在销售过程中利用资产的效率，而不考虑资本的来源。零售业和服务业的活动比率通常比较高。制造业通常是资本密集型的，固定资产的流动资产较多，因此其活动比率也就比较低。 Allcation of costs 成本的分配:将成本分配给“拥有”它们的产品或分部，比如用某产品的广告成本抵减该产品的收入。 Amortization 摊销: 将资产或负债价值的逐渐减少记录在各期费用里。通常是指商誉、专利或其他无形资产，或者债券的发行费用。 Assets 资产: 企业所拥有的财产，可能包括固定资产、流动资产和无形资产。 Asset turnover: 资产周转率 Auditing 审计对公司账簿和会计系统进行检查，从而确认公司的会计报表是否真实、公正地披露其财务状况的过程。 Auditors’ report审计报告:根据法律规定，每年都应当公布一份会计报表，同时审计师应当出具意见，以确认公司是否对其商业活动进行了真实、公正的披露。为了确认这一点，审计师需要检查公司的会计报表。如果他们对报表不满意，他们就会出具“保留意见”，提了同报表中他们认为错误或不确定的项目。审计师出具的保留意见可能会对公司的公众形象和股票价格产生灾难性的影响。 Authorized capital 核定资本:经过核定允许发行的实收资本额。在核定资本的时候，公司需要
会计科目英文 会计系统 Accounting system 美国会计协会 American Accounting Association 美国注册会计师协会 American Institute of CPAs 审计 Audit 资产负债表 Balance sheet 簿记 Bookkeeping 现金流量预测 Cash flow prospects 内部审计证书Certificate in Internal Auditing 管理会计证书 Certificate in Management Accounting 注册会计师Certificate Public Accountant 成本会计Cost accounting 外部使用者External users 财务会计Financial accounting 财务会计准则委员会Financial Accounting Standards Board 财务预测Financial forecast 公认会计原则Generally accepted accounting principles 通用目的信息 General-purpose information 政府会计办公室Government Accounting Office 损益表 Income statement 内部审计师协会Institute of Internal Auditors 管理会计师协会Institute of Management Accountants 整合性Integrity 内部审计Internal auditing 内部控制结构Internal control structure 国内收入署Internal Revenue Service 内部使用者 Internal users 管理会计Management accounting 投资回报Return of investment 投资报酬Return on investment 证券交易委员会 Securities and Exchange Commission 现金流量表Statement of cash flow 财务状况表Statement of financial position 税务会计 Tax accounting 会计等式Accounting equation 勾稽关系 Articulation 资产 Assets 企业个体Business entity 股本Capital stock 公司Corporation 成本原则Cost principle 债权人Creditor 通货紧缩 Deflation 批露Disclosure 费用Expenses 财务报表Financial statement 筹资活动Financial activities 持续经营假设Going-concern assumption 通货膨涨 Inflation 投资活动Investing activities 负债Liabilities 负现金流量Negative cash flow 经营活动Operating activities 所有者权益Owner’s equity 合伙企业Partnership 正现金流量Positive cash flow 留存利润Retained earning 收入Revenue 独资企业Sole proprietorship 清偿能力Solvency 稳定货币假设Stable-dollar assumption 股东Stockholders
《财务管理学中常见的英文缩写词汇》 1、ACF Annuity compound factor 2、ADF Annuity discounted factor 3、PVIFA Present-Value Interest Factors of Annuity 4、FVIFA Future-Value Interest Factors of Annuity 5、XFVA X可能是先付年金的声母（没有查到具体出处）Future-Value of Annuity 6、XPVA X可能是先付年金的声母（没有查到具体出处）Present-Value of Annuity 7、RA relavant asset 8、RL relavant liability 9、RE Retained Earnings 10、DOL Degree of Operational Leverage 11、DFL Degree of Financial Leverage 12、DCL Degree of Combined Leverage 13、DTL Degree of Total Leverage 14、EBIT Earnings before interest and tax 15、EAT Earnings after tax 16、EPS Earnings per share 17、NDR Net debt ratio 18、NPV Net present value 19、NCF Net cash flow 20、CFAT Cash flow after tax 21、PI Profitability index 22、ANPV Average of Net present value 23、JIT Just-in-time 24、CD(现金折扣百分比但是不知道单词) cash discount 25、SP 这个是市销率PS吧：price to sales 26、FCFF Free Cash Flow for the Firm 27、DQⅡ(在理财杂志上看到的一种工具) 28、ETF(买卖基金) exchange traded fund 29、IPO Initial Public Offering 30、PE price per share/earnings per share 31、PE/VC Private Equity私募股权/ Venture Capital风险投资 32、ISM(制造业指数) institute for supply management 33、PMI（采购经理人指数）Purchasing Manager's Index
【精编推荐】ACCA财务管理英语中英文对 照
ACCA--财务管理英语solepropsietorship独资企业partnership合伙企业corporatefinance公司财务
corporate公司 closelyheld私下公司 publiccompany公众公司 GoldmanSachs高盛银行 pensionfund养老基金 insurancecompany保险公司 boardofdirector董事会separationofownershipandmanagement所有权与管理权的分离limitedliability有限责任 articlesofincorporation公司章程 realasset实物资产 financialasset金融资产 security证券 financialmarket金融市场 capitalmarket资本市场 moneymarket货币市场 investmentdecision投资决策capitalbudgetingdecision资本预算决策financingdecision融资决策 financialmanager财务经理 treasurer司库 controller总会计师
CFO首席财务官 principal-agentproblem委托代理问题principal委托人 agent代理人 agencycost代理成本informationasymmetry信息不对称signal信号efficientmarketshypothesis有效市场假说presentvalue现值 discountfactor贴现因子 rateofreturn收益率 discountrate贴现率 hurdlerate门坎比率opportunitycostofcapital资本机会成本netpresentvalue净现值 cashoutflow现金支出netpresentvaluerule净现值法则 rate-of-returnrule收益率法则profitmaximization利润最大化doingwell经营盈利 doinggood经营造益 collateral抵押品
财务会计专业名词中英文对照AAA 美国会计学会 Abacus 《算盘》杂志 abacus 算盘 Abandonment 废弃,报废;委付 abandonment value 废弃价值 abatement ①减免②冲销 ability to service debt 偿债能力 abnormal cost 异常成本 abnormal spoilage 异常损耗 above par 超过票面价值 above the line 线上项目 absolute amount 绝对数,绝对金额 absolute endorsement 绝对背书 absolute insolvency 绝对无力偿付 absolute priority 绝对优先求偿权 absolute value 绝对值 absorb 摊配,转并 absorption account 摊配账户,转并账户 absorption costing 摊配成本计算法 abstract 摘要表 abuse 滥用职权 abuse of tax shelter 滥用避税项目 ACCA特许公认会计师公会 accelerated cost recovery system 加速成本收回制度accelerated depreciation method 加速折旧法,快速折旧法acceleration clause 加速偿付条款,提前偿付条款acceptance ①承兑②已承兑票据③验收 acceptance bill 承兑票据 acceptance register 承兑票据登记簿 acceptance sampling 验收抽样 access time 存取时间 accommodation 融通 accommodation bill 融通票据 accommodation endorsement 融通背书 account ①账户,会计科目②账簿,报表③账目,账项④记账accountability 经营责任,会计责任 accountability unit 责任单位 Accountancy 《会计》杂志 accountancy 会计 accountant 会计员,会计师 accountant general 会计主任,总会计 accounting in charge 主管会计师
财务管理的概念： Concerns the acquisition, financing, and management of assets with some overall goal in mind. Investment decisions，Financing decisions，Asset management decisions。 The Goal of the Firm： Maximization of Shareholder Wealth：Value creation occurs when we maximize the share price for current shareholders. 公司组织形式： Sole Proprietorships：Advantages：Simplicity，Low setup cost，Quick set up，Single tax filing on individual form。Disadvantages：Unlimited liability，Hard to raise additional capital，Transfer of ownership difficulties， Partnerships (general and limited) Advantages：Can be simple，Low setup cost, higher than sole proprietorship，Relatively quick setup，Limited liability for limited partners。Disadvantages：Unlimited liability for the general partner，Difficult to raise additional capital, but easier than sole proprietorship，Transfer of ownership difficulties Corporations ：Advantages：Limited liability，Easy transfer of ownership，Unlimited life，Easier to raise large quantities of capital。Disadvantages：Double taxation，More difficult to establish ，More expensive to set up and maintain。 5c系统：Five Cs of Credit 1 Character – willingness to meet financial obligations 2 Capacity – ability to meet financial obligations out of operating cash flows 3 Capital –financial reserves（储备） 4 Collateral – assets pledged as security 5 Conditions –general economic conditions related to customer’s business PBP的优缺点： Strengths: 1 Easy to use and understand 2Can be used as a measure of liquidity 3Easier to forecast ST than LT flows Weaknesses: 1Does not account for TVM 2Does not consider cash flows beyond the PBP 3Cutoff period is subjective Irr的优缺点： Strengths: 1Accounts for TVM 2Considers all cash flows 3 Less subjectivity Weaknesses: 1 Assumes all cash flows reinvested at the IRR 2Difficulties with project rankings and Multiple IRRs Npv的优缺点： Strengths: 1Cash flows assumed to be reinvested at the hurdle rate. 2Accounts for TVM.
(文档含英文原文和中文翻译) 中英文对照外文翻译 附件：外文翻译译文 战略财务会计在中小企业 摘要：随着社会经济的发展和科学技术的进步,中国的企业在一个充满机会和危险的阶段。介绍了安全会计的含义和意义战略财务会计中存在的问题,阐述了财务策略进行小中型企业一起,最后提出了一些对策和原因。 关键词：中小企业的战略财务会计、问题、对策
一个企业的不确定性的金融环境其财务活动充满风险。除了机会,有许多的危险从时间,以时间,其财务会计。因此,它已经成为了成功的关键一个企业的财务会计是否能跟踪的趋势变化什么是有用的吸收。应当拒绝接受什么是有害的。战略会计思想是非常重要的在企业的财务会计,因为我们必须努力去分析和把握一般环境和发展一个企业的发展趋势,从而提高适应能力、可变性和适用性的金融中心会计不确定环境。目前,中小企业在100年通过了工商登记、以企业总数的90%。因此,其战略财务会计是特别重要的,这也是本论文的主题。 1 简介 战略性的财务会计是财务会计理论,根据该融资应该的在最适当的方式进行,采集到的资本必须利用和会计的最有效的方式虽然企业和决策和利润分配应该最合理。根据其内涵,总结三个主要内容的战略财务会计,包括融资策略,投资战略和利润分配决策策略。详情如下: 融资策略 高度发达的现代企业具有的销售急剧增长。当面对这样一种局势,企业倾向于有很大的要求从股票和应收账款是资本的提升。更大的为销售增长的张力,但更大的资本要求。因此,在融资策略都具有十分重要的意义战略会计财务。融资策略的功能在于明确的指导方针融资、铺设融资目标下,建立整体规模、融资渠道和方法,安排战略资本结构优化方案,从各方面对此作了相应的对策,以达到融资目标,最后预测和收集的大量资金的企业的需要。 投资策略 为核心的战略财务会计,这种策略决定一个企业只能分配它的首都资源合理而有效的方法。投资策略包括确认投资固定资产的方向、公司规模和资本规模、投资选择相关的外部扩张或内部扩张,改革旧的产品或开发新的、独立或联合操作,自有资金投资决定或贷款之间的百分比固定资产、流动资产、投资策略和风险和那些在通货膨胀。 利润分配决策策略 这个策略,包括会计资本收益和设立股份奖金分配制度,主要的交易一个企业比例,搁在长期底图在扩大规模、提高员工福利和自身的生活水平。利润分配决策战略旨在满足需求,对于资产资本的发展和改进企业的核心竞争力根据相关的投资
中国会计科目中英文对照 代码名称代码名称代码名称代码名称英译 1 资产assets 11~ 12 流动资产current assets 111 现金及约当现金cash and cash equiva lents 1111 库存现金cash on hand 1112 零用金/周转金petty cash/revolving f unds 1113 银行存款cash in banks 1116 在途现金cash in transit 1117 约当现金cash equivalents 1118 其它现金及约当现金other cash and cash equivalents 112 短期投资short-term investment 1121 短期投资-股票short-term investmen ts - stock 1122 短期投资-短期票券short-term inves tments - short-term notes and bills
1123 短期投资-政府债券short-term inve stments - government bonds 1124 短期投资-受益凭证short-term inve stments - beneficiary certificates 1125 短期投资-公司债short-term invest ments - corporate bonds 1128 短期投资-其它short-term investmen ts - other 1129 备抵短期投资跌价损失allowance fo r reduction of short-term investment to mar ket 113 应收票据notes receivable 1131 应收票据notes receivable 1132 应收票据贴现discounted notes recei vable 1137 应收票据-关系人notes receivable -related parties 1138 其它应收票据other notes receivabl e 1139 备抵呆帐－应收票据allowance for uncollec- tible accounts- notes receivable 114 应收帐款accounts receivable