Financial markets and institution

1. Above par 溢价 describes a bond or other fixed-interest security whose

market value is higher than the price at which it was issued.

2. above the line 线上交易 normal business expenses and revenues that come

above the net income or net profit in a profit and loss account or income

statement.

3. absolute advantage 绝对优势 the ability to produce a particular food more

cheaply than other countries.

4. absorption costing 吸收成本法 see full costing

5. accelerated depreciation 加速折旧 subtracting a high proportion of the cost

of capital investments from taxable profit during the first years of use .

6. accelerator or acceleration principle 加速原理 changes in the demand for

consumer goods cause even greater changes in the demand for capital goods .

7. accepting houses 承兑商 banks that buy (for a commission or fee) export

merchants‟ short-term bills of exchange ,expecting the debtor to pay up at

Financial Statements

Accounting Vocabulary:

1. accrual accounting 权责发生制

accrued charge 应计费用

2. classify (v.) 把…分类 → classification (n.) 分类

3. convert (vt.) 使改变，使转换 → convertible /kən’ və: təbl/

(adj.) 可转换的 → convertible debenture / di’ bentʃə/ 可转换债券

4. current (adj.) 短期的，流动的 currency (n.) 货币

5. current asset 流动资产 fixed asset 固定资产

6. ratio /’ reiʃiəu/ 比，比率

7. defer /di’ fə: / (v.) 拖延、推迟 → deferred (adj.) 延期的，搁置的 → deferred income tax 递延所得税 income tax

preparation 所得税申报

8. deficiency (n.) 哲学 efficient (adj.) 有效的，效率高的

9. finance (v.)融资，为…筹措资金/ (n.)财务、收入、资金 →

financing (n.) 融资

10. franchise /’ fræntʃaiz/

11. general(整个的，总的) expenses 行政费用、管理费用

utilities expense 公用事业支出

12. gross margin /’ ma: dʒin/ 毛利

13. turnover 翻倒 → inventory turnover 存货周转率

14. installment = instalment /in’ stɔ: lmənt/ (n.) 分期付款（中每一期摊付的款项）/（连载故事的）一部分/（连续剧的）一集

BelowaretheSWIFTcodesforallbanksinHongKong.TheseSWIFTcodesareonlytheactiveparticipantswhoareconnectedtoSWIFTnetwork.Thepassiveparticipant’scodesareexcludedfromthelist.

SWIFTcodeisastandardformatofBankIdentifierCodes(BIC)anditisuniqueidentificationcodeforaparticularbank.Thesecodesareusedwhentransferringmoneybetweenbanks,particularlyforinternationalwiretransfers.Banksalsousedthecodesforexchangingothermessagesbetweenthem.TheSWIFTcodeconsistsof8or11characters.When8-digitscodeisgiven,itreferstotheprimaryoffice.First4characters-bankcode(onlyletters)Next2characters-ISO3166-1alpha-2countrycode(onlyletters)Next2characters-locationcode(lettersanddigits)(passiveparticipantwillhave"1"inthesecondcharacter)Last3characters-branchcode,optional('XXX'forprimaryoffice)(lettersanddigits)

Currently,thereareover7,500“live”SWIFTcodes.The"live"codesareforthepartnerswhoareactivelyconnectedtotheSWIFTnetwork.Ontopofthat,therearemorethan10,000additionalcodes,whichareusedformanualtransactions.Theseadditionalcodesareforthepassiveparticipants.

Money:货币

第一节术语整理Chapter1：

三大金融市场:

Bondmarketp3

Stockmarketp3

Foreignexchangemarketp5

Financialinstitution金融机构p8

Inflation通货膨胀p10

Assetbubble:

financialasset(大多为纸质凭证，havelittleinnervalue)

Realasset(实体经济，haveinnervalue)

Monetarypolicyandfiscalpolicy货币政策和财政政策p12

QEQuantitativeEasingPolicy量化宽松的货币政策

Moneymarketandcapitalmarket（短期）货币市场即经营一年以内短期资金融通的金融市场，如同业拆借市场，短期信贷市场等；（长期）资本市场即证券融资和经营一年以上中长期资金借贷的市场，比如stockmarketandbondmarket.P27

Appreciationtrendanddepreciationtrend(ordownwardtrend)ofmoney货币升值和贬值趋势

Decline(orrecession)andrecoverofeconomy经济衰退和复苏p9

Centralbank央行p12

SecurityCompany Subprimecrisis次货危机

Entrust-and-investment-company:信托投资有限公司（以受托人的身份，代人理财的金融机构、与银行信贷，保险并称现代金融业的三大支柱。）

Dowjonesindustrialaverage道琼斯工业指数（反应目前美国经济状况和经济走势，对世界经济的走向也有很重要的参考意义）(英文解释:DowJonesIndustrialAverage(DJIA):Anindexofthe30largestpubliclytradedcorporationsintheUnitedStatesmaintainedbytheDowJonesCorporation.)