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工商管理英語Chapter10 財務管理

時間:2006-01-08 16:00來源:互聯網 提供網友:zhx821120   字體: [ ]
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  [00:00.00]invoice1    vt.
[00:00.84]為……開發票
[00:01.67]reminder  n.
[00:02.39]催詢
[00:03.11]statement   n.
[00:03.88]財務報表
[00:04.65]supplier    n.
[00:05.39]供應商
[00:06.14]measure    n.   vt.    vi.
[00:06.92]測量,測量,測量
[00:07.71]investment   n.
[00:08.48]投資
[00:09.25]straight    adv.    a.
[00:09.95]直接地,直
[00:10.66]MD:There's no doubt we've got to tighten2 up on financial control.
[00:12.88]毫無疑問我們必須加強財務管理。
[00:15.10]Peter,you're in charge of credit control.What do you suggest?
[00:17.65]彼得,你是負責信借貸管理的,你有什么建議?
[00:20.19]FC:Well,I've been looking at our payment terms,in other words how long we have to wait for payment,we must reduce the average delay in payment.
[00:26.03]我一直在考慮我們的支付條件,也就是說,要等多長時間顧客才付款必須縮短平均拖欠的付款期限。
[00:31.87]It's nearly 45 days now from the date we send out the invoice.We've got to get it down to nearly 30 days.It's not easy.
[00:37.36]現在從我們寄出發貨清單差不多要過45天,必須把期限縮短到差不多30天。這不容易做到。
[00:42.84]The sales people always argue it is better to wait for payment rather than lose a customer,but I think we can tighten up on reminders,statements and so on.
[00:48.55]搞銷售的人總是說寧肯等待支付貨款也不要失去顧客,可是我認為可以把催款信、財務報表等這類工作抓得更緊一些。
[00:54.26]MD:What about our payments to suppliers?
[00:55.92]我們給供貨單位的支付情況怎么樣?
[00:57.57]FC:Well,that's more difficult.
[00:58.68]嗯,這更困難。
[00:59.79]We are a small company dealing3 with large suppliers.
[01:01.84]我們是與大供應商打交道的小公司。
[01:03.90]They don't have to help us.
[01:04.90]他們不是非幫助我們不可。
[01:05.91]Still,maybe one or two of our older suppliers could give us better payment terms.
[01:08.39]不過,也許有一兩家我們的老供應商可以提供給我們更優惠的支付條件。
[01:10.87]MD:Right,let's look at some more general cost_cutting measures we can take.
[01:13.85]好的,我們再看看還能采取些什么更一般的措施來降低成本。
[01:16.83]I'm interested in support services such as training and personnel development.
[01:19.14]我對培訓和人才開發這類輔助性業務感興趣。
[01:21.45]PM:Look,I must say something here.
[01:22.59]喂,這里我必須講幾句。
[01:23.72]We simply mustn't cut these services.
[01:25.26]根本不可以降低這些業務的開支。
[01:26.80]They are our long_term investment in people.
[01:28.65]這是我們在人員方面的長期投資。
[01:30.49]MD:Maybe,but we've got to reduce costs somehow.
[01:32.47]也許是這樣,但我們必須把成本降下來。
[01:34.46]We can't cut in the production area.I...
[01:36.03]生產領域不能降了,我……
[01:37.59]PM:Ture,but our training budget is already very limited.
[01:39.83]對,但是培訓開支已經是非常有限。
[01:42.06]Most of the training programmes are long term.
[01:43.85]大部分培訓課程又都是長期的。
[01:45.64]MD:I'm not saying we have to stop any existing programmes,but perhaps we should look carefully at future training courses.
[01:50.48]我不是說要停掉哪一門現有的課程,但應慎密考慮今后的培訓課程。
[01:55.33]PM:Well,I can let you have details of what we plan.I think you'll see that they are all worthwhile investments.
[01:59.44]好吧,我可以把我們制訂的計劃細節提供給你。我相信你會發現所有這些投資都是值得進行的。
[02:03.56]MD:I'm sure.Anyway,let me have the programme and we'll discuss it later.
[02:06.29]肯定會的。無論如何,先讓我看看這份計劃,然后我們再來討論。
[02:09.02]We'll have to stop now.I've got another meeting at 2.
[02:11.06]現在只好先討論到這里了,我兩點鐘還有另一個會。
[02:13.09]PM:I must go too.I've got a meeting right away.
[02:14.49]我也得走了,馬上就得去開會。
[02:15.89]maximization
[02:16.84]最大化
[02:17.80]obligation    n.
[02:18.61]義務
[02:19.42]payback    n.
[02:19.96]償還
[02:20.51]payback period
[02:21.34]回收期
[02:22.16]Preferred stock
[02:23.03]優先股
[02:23.91]Common stock
[02:24.69]普通股
[02:25.48]income
[02:26.05]收入
[02:26.63]cost of capital
[02:27.37]資本成本
[02:28.11]debt
[02:28.53]債務
[02:28.95]promissory note
[02:29.90]本票
[02:30.86]Financial management is concerned with the maintenance and creation of wealth.
[02:34.06]財務管理是關于財富的保值和增值的理論。
[02:37.26]The goal of the firm is maximization of shareholder4 wealth.
[02:39.99]企業的目標是使股東財富最大化。
[02:42.72]Capital gains(or losses)are gains(or losses)from the sale of assets not bought or sold in the ordinary course of business.
[02:47.64]資本收益(或損失)是指除正常業務外企業出售資產的收益(或損失)。
[02:52.56]Money market refers to all institutions and procedures that provide for transactions in short_term debt instruments.
[02:57.36]貨幣市場指所有為了短期債務融資工具的交易而設置的機構和程序。
[03:02.15]The capital market refers to all institutions and procedures that provide for transactions in long_term financial instruments.
[03:06.93]資本市場是指所有為了長期金融工具的交易而設置的機構和程序。
[03:11.71]Real assets are tangible6 assets like houses,equipment,and inventories7.
[03:14.36]實物資產是指有形資產,如房屋、設備和存款。
[03:17.02]Financial assets represent claims for future payment on other economic units.
[03:20.01]金融資產代表對其他經濟單位未來付款的求償權。
[03:23.00]Common and preferred stocks,bonds,bills,and notes are all types of financial assets.
[03:26.48]普通股、優先股、債券、票據等都屬于金融資產。
[03:29.97]Three basic financial statements are commonly used to describe the financial condition and performance of the firm:
[03:34.69]通常用三種基本財務報表來描述財務狀況和公司業績:
[03:39.40]the balance sheet,the income statement and the cash flow statement.
[03:42.16]資產負債表、損益表和現金流量表。
[03:44.91]Three basic financial statements are commonly used to describe the financial condition and performance of the firm:
[03:48.77]通常用三種基本財務報表來描述財務狀況和公司業績:
[03:52.62]the balance sheet,the income statement and the cash flow statement.
[03:55.26]資產負債表、損益表和金流量表。
[03:57.90]balance sheet
[03:58.60]資產負債表
[03:59.31]Financial ratio analysis helps us identify some of the financial strengths and weaknesses of a company.
[04:03.57]財務比率分析有助于我們了解公司經營狀況的好壞和財務地位的強弱。
[04:07.82]The liquidity8 of a business is defined as its ability ot meet maturing debt obligations.
[04:10.92]公司資產的流動性通常定義為公司償還到期債務的能力。
[04:14.01]Forecasting in financial management is used to estimate a firm's future financial needs.
[04:17.15]財務管理中的預測是指估計公司未來的融資需求。
[04:20.28]Compound interest occurs when interest paid on the investment during the first period is added to the principal and then,during the second period,interest is earned on this new sum.
[04:26.62]復利是指以上一期的利息加上本金為基數計算當期利息的方法。
[04:32.95]Present value is the current value of a future payment.
[04:35.13]現值是指未來一筆收入折合到現在的價值。
[04:37.32]The expected returns an investment generates come in the form of cash flows.
[04:40.07]期望收益來源于投資產生的預期現金流。
[04:42.83]The expected rate of return is a weighed average of all the possible returns,weighed by the probability that each return will occur.
[04:48.56]投資的預期收益率是所有可能的收益率的概率加權平均。
[04:54.30]The investor9's require rate of return can be defined as the minimum rate of return necessary to attract an investor to purchase or hold a security.
[05:00.17]投資者要求的收益率可以定義為吸引投資者購買或持有某種證券的最低收益率。
[05:06.05]Risk for our purposes in the variability of returns and may be measured by the standard deviation10.
[05:10.15]風險是預期收益不能實現的可能性,可用標準差來度量。
[05:14.25]A bond is a type of debt or long_term promissory note,issued by the borrower,
[05:17.35]債券是由借債者發行,
[05:20.44]promising to pay its holder5 a predetermined and fixed11 amount of interest per year.
[05:24.00]并承諾按期付給債券持有者預先約定的固定利息的一種長期票據。
[05:27.55]In the case of insolvency12,claims of debt in general,including bonds,are honored before those of both common stock and preferred stock.
[05:32.81]公司清償時,債權人對公司資產的追償權要先于普通股股東及優先股股東。
[05:38.08]The value of a bond is the present value both of future interest to be received and the par13 or maturity14 value of the bond.
[05:42.86]債券的價值等于投資者將來所收到的利息收入和本金以及票面溢值的現值之和。
[05:47.64]Preferred stock is often referred to as a hybrid15 security because it has many characteristics of both common stock and bond.
[05:52.25]優先股常常被人稱為混合證券,因為它兼有普通股和債券的特點。
[05:56.86]Common stock is a certificate that indicates a share of ownership in the corporation.
[05:59.55]普通股票是表明公司所有權的一種證書。
[06:02.24]The payback period is the number of years needed to recover the initial cash outlay16.
[06:05.19]回收期是指收回最初現金投入所需要的年數。
[06:08.14]The net present value(NPV)of an investment proposal is equal to the present value of its annual net cash flows after taxes less the investment's initial outlay.
[06:14.67]一項投資的凈現值等于預值未來每年稅后凈現金流的現值減去項目初始投資支出。
[06:21.20]The profitability index(P1),or benefit_cost ratio,is the ratio of the present value of the future net cash flows to the initial outlay.
[06:27.47]獲利能力指數,又稱收益/費用比率,是指未來凈現金流的現值與初始現金流比值的比率。
[06:33.74]The internal rate of return(IRR)is defined as the discount rate that equates17 the present value of the project's future net cash flows with the project's initial cash outlay.
[06:40.35]內部收益率是指使項目未來凈現金流量的現值與該項目初始投資支出值相等時的貼現率。
[06:46.96]The weighted average cost of capital is the average of the aftertax costs of each of the sources of capital used by a firm to finance a project where the weights reflect the proportion of total financing arising from each source.
[06:56.44]資本加權平均成本由若干個單個融資成本加權平均而成,以和每項融資在全部資本中所占的百分數為權重。
[07:05.93]Capital structure is the mix of the long_term sources of funds used by the firm.
[07:08.59]資本結構是指公司長期資本的組合結構。
[07:11.26]Target capital structure mix is the mix of financing sources that the firm plans to maintain through time.
[07:15.75]目標資本結構組合是公司一定時期計劃擁有的融資組合。
[07:20.24]The dividend18 payout ratio indicates the amount of dividends19 paid relative to the company's earnings20.
[07:24.43]紅利支付率即現金紅利占公司凈收益的百分比。
[07:28.63]A firm's dividend policy includes two basic components:the dividend payout ratio and the stability of the dividends over time.
[07:33.51]公司的紅利政策包含兩個基本因素:紅利支付率和紅利的穩定性。
[07:38.40]A stock repurchase(stock buyback)is when a firm repurchases its own stock,resulting in a reduction in the number of shares outstanding.
[07:44.05]股票回購是指公司購買自己的股票,以使流通的股票數量減少。
[07:49.71]An integral part of dividend policy is the use of stock dividends and stock splits.
[07:52.76]股票紅利和股票分割的應用是紅利政策中的必要組成。
[07:55.82]Working_capital management involves managing the firm's liquidity,which in turn involves managing the firm's investment in current assets,and its use of current liabilities.
[08:02.02]營運資本管理可以看作管理公司的流動性,包括流動資產管理和流動負債管理。
[08:08.23]The risk_return trade_off involved in managing the firm's working capital involves a trade_off between the firm's liquidity and its profitability.
[08:14.48]營運資本管理中的風險收益權衡就是在公司的流動性和盈利性之間進行權衡。
[08:20.74]A company-wide cash management program must be concerned with minimizing the firm's risk of insolvency.
[08:25.70]公司現金管理的目標是使公司的支付風險率降低到最低限度。
[08:30.67]Insolvency describes the situation where the firm is unable to meet its maturing liabilities on time.
[08:35.70]支付風險是指公司無力按期償還到期的各種債務。
[08:40.72]Inventory management involves the control of the assets that are used and produced to be sold in the normal course of the firm's operations.
[08:46.04]庫存管理包括對公司生產過程中使用的資產及公司生產出來用于銷售的資產的控制。


點擊收聽單詞發音收聽單詞發音  

1 invoice m4exB     
vt.開發票;n.發票,裝貨清單
參考例句:
  • The seller has to issue a tax invoice.銷售者必須開具稅務發票。
  • We will then send you an invoice for the total course fees.然后我們會把全部課程費用的發票寄給你。
2 tighten 9oYwI     
v.(使)變緊;(使)繃緊
參考例句:
  • Turn the screw to the right to tighten it.向右轉動螺釘把它擰緊。
  • Some countries tighten monetary policy to avoid inflation.一些國家實行緊縮銀根的貨幣政策,以避免通貨膨脹。
3 dealing NvjzWP     
n.經商方法,待人態度
參考例句:
  • This store has an excellent reputation for fair dealing.該商店因買賣公道而享有極高的聲譽。
  • His fair dealing earned our confidence.他的誠實的行為獲得我們的信任。
4 shareholder VzPwU     
n.股東,股票持有人
參考例句:
  • The account department have prepare a financial statement for the shareholder.財務部為股東準備了一份財務報表。
  • A shareholder may transfer his shares in accordance with the law.股東持有的股份可以依法轉讓。
5 holder wc4xq     
n.持有者,占有者;(臺,架等)支持物
參考例句:
  • The holder of the office of chairman is reponsible for arranging meetings.擔任主席職位的人負責安排會議。
  • That runner is the holder of the world record for the hundred-yard dash.那位運動員是一百碼賽跑世界紀錄的保持者。
6 tangible 4IHzo     
adj.有形的,可觸摸的,確鑿的,實際的
參考例句:
  • The policy has not yet brought any tangible benefits.這項政策還沒有帶來任何實質性的好處。
  • There is no tangible proof.沒有確鑿的證據。
7 inventories 9d8e9044cc215163080743136fcb7fd5     
n.總結( inventory的名詞復數 );細賬;存貨清單(或財產目錄)的編制
參考例句:
  • In other cases, such as inventories, inputs and outputs are both continuous. 在另一些情況下,比如存貨,其投入和產出都是持續不斷的。
  • The store must clear its winter inventories by April 1st. 該店必須在4月1日前售清冬季存貨。
8 liquidity VRXzb     
n.流動性,償債能力,流動資產
參考例句:
  • The bank has progressively increased its liquidity.銀行逐漸地增加其流動資產。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流動資金的變化有密切關系。
9 investor aq4zNm     
n.投資者,投資人
參考例句:
  • My nephew is a cautious investor.我侄子是個小心謹慎的投資者。
  • The investor believes that his investment will pay off handsomely soon.這個投資者相信他的投資不久會有相當大的收益。
10 deviation Ll0zv     
n.背離,偏離;偏差,偏向;離題
參考例句:
  • Deviation from this rule are very rare.很少有違反這條規則的。
  • Any deviation from the party's faith is seen as betrayal.任何對黨的信仰的偏離被視作背叛。
11 fixed JsKzzj     
adj.固定的,不變的,準備好的;(計算機)固定的
參考例句:
  • Have you two fixed on a date for the wedding yet?你們倆選定婚期了嗎?
  • Once the aim is fixed,we should not change it arbitrarily.目標一旦確定,我們就不應該隨意改變。
12 insolvency O6RxD     
n.無力償付,破產
參考例句:
  • The company is on the verge of insolvency.該公司快要破產了。
  • Normal insolvency procedures should not be applied to banks.通常的破產程序不應當適用于銀行。
13 par OK0xR     
n.標準,票面價值,平均數量;adj.票面的,平常的,標準的
參考例句:
  • Sales of nylon have been below par in recent years.近年來尼龍織品的銷售額一直不及以往。
  • I don't think his ability is on a par with yours.我認為他的能力不能與你的能力相媲美。
14 maturity 47nzh     
n.成熟;完成;(支票、債券等)到期
參考例句:
  • These plants ought to reach maturity after five years.這些植物五年后就該長成了。
  • This is the period at which the body attains maturity.這是身體發育成熟的時期。
15 hybrid pcBzu     
n.(動,植)雜種,混合物
參考例句:
  • That is a hybrid perpetual rose.那是一株雜交的四季開花的薔薇。
  • The hybrid was tall,handsome,and intelligent.那混血兒高大、英俊、又聰明。
16 outlay amlz8A     
n.費用,經費,支出;v.花費
參考例句:
  • There was very little outlay on new machinery.添置新機器的開支微乎其微。
  • The outlay seems to bear no relation to the object aimed at.這費用似乎和預期目的完全不相稱。
17 equates 7b5a7f0640b2cedfd39d5d5473d911d4     
v.認為某事物(與另一事物)相等或相仿( equate的第三人稱單數 );相當于;等于;把(一事物) 和(另一事物)等同看待
參考例句:
  • He equates success with material wealth. 他認為成功等同于物質財富。 來自《簡明英漢詞典》
  • This equates to increased and vigor, better sleep and sharper mental acuity. 也就是說可以起到增強活力,改善睡眠,提高心智的作用。 來自互聯網
18 dividend Fk7zv     
n.紅利,股息;回報,效益
參考例句:
  • The company was forced to pass its dividend.該公司被迫到期不分紅。
  • The first quarter dividend has been increased by nearly 4 per cent.第一季度的股息增長了近 4%。
19 dividends 8d58231a4112c505163466a7fcf9d097     
紅利( dividend的名詞復數 ); 股息; 被除數; (足球彩票的)彩金
參考例句:
  • Nothing pays richer dividends than magnanimity. 沒有什么比寬宏大量更能得到厚報。
  • Their decision five years ago to computerise the company is now paying dividends. 五年前他們作出的使公司電腦化的決定現在正產生出效益。
20 earnings rrWxJ     
n.工資收人;利潤,利益,所得
參考例句:
  • That old man lives on the earnings of his daughter.那個老人靠他女兒的收入維持生活。
  • Last year there was a 20% decrease in his earnings.去年他的收入減少了20%。
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