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工商管理英语Chapter10 财务管理

时间:2006-01-08 16:00来源:互联网 提供网友:zhx821120   字体: [ ]
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  [00:00.00]invoice1    vt.
[00:00.84]为……开发票
[00:01.67]reminder  n.
[00:02.39]催询
[00:03.11]statement   n.
[00:03.88]财务报表
[00:04.65]supplier    n.
[00:05.39]供应商
[00:06.14]measure    n.   vt.    vi.
[00:06.92]测量,测量,测量
[00:07.71]investment   n.
[00:08.48]投资
[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]毫无疑问我们必须加强财务管理。
[00:15.10]Peter,you're in charge of credit control.What do you suggest?
[00:17.65]彼得,你是负责信借贷管理的,你有什么建议?
[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]我一直在考虑我们的支付条件,也就是说,要等多长时间顾客才付款必须缩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]现在从我们寄出发货清单差不多要过45天,必须把期限缩短到差不多30天。这不容易做到。
[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]搞销售的人总是说宁肯等待支付货款也不要失去顾客,可是我认为可以把催款信、财务报表等这类工作抓得更紧一些。
[00:54.26]MD:What about our payments to suppliers?
[00:55.92]我们给供货单位的支付情况怎么样?
[00:57.57]FC:Well,that's more difficult.
[00:58.68]嗯,这更困难。
[00:59.79]We are a small company dealing3 with large suppliers.
[01:01.84]我们是与大供应商打交道的小公司。
[01:03.90]They don't have to help us.
[01:04.90]他们不是非帮助我们不可。
[01:05.91]Still,maybe one or two of our older suppliers could give us better payment terms.
[01:08.39]不过,也许有一两家我们的老供应商可以提供给我们更优惠的支付条件。
[01:10.87]MD:Right,let's look at some more general cost_cutting measures we can take.
[01:13.85]好的,我们再看看还能采取些什么更一般的措施来降低成本。
[01:16.83]I'm interested in support services such as training and personnel development.
[01:19.14]我对培训和人才开发这类辅助性业务感兴趣。
[01:21.45]PM:Look,I must say something here.
[01:22.59]喂,这里我必须讲几句。
[01:23.72]We simply mustn't cut these services.
[01:25.26]根本不可以降低这些业务的开支。
[01:26.80]They are our long_term investment in people.
[01:28.65]这是我们在人员方面的长期投资。
[01:30.49]MD:Maybe,but we've got to reduce costs somehow.
[01:32.47]也许是这样,但我们必须把成本降下来。
[01:34.46]We can't cut in the production area.I...
[01:36.03]生产领域不能降了,我……
[01:37.59]PM:Ture,but our training budget is already very limited.
[01:39.83]对,但是培训开支已经是非常有限。
[01:42.06]Most of the training programmes are long term.
[01:43.85]大部分培训课程又都是长期的。
[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]我不是说要停掉哪一门现有的课程,但应慎密考虑今后的培训课程。
[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,我可以把我们制订的计划细节提供给你。我相信你会发现所有这些投资都是值得进行的。
[02:03.56]MD:I'm sure.Anyway,let me have the programme and we'll discuss it later.
[02:06.29]肯定会的。无论如何,先让我看看这份计划,然后我们再来讨论。
[02:09.02]We'll have to stop now.I've got another meeting at 2.
[02:11.06]现在只好先讨论到这里了,我两点钟还有另一个会。
[02:13.09]PM:I must go too.I've got a meeting right away.
[02:14.49]我也得走了,马上就得去开会。
[02:15.89]maximization
[02:16.84]最大化
[02:17.80]obligation    n.
[02:18.61]义务
[02:19.42]payback    n.
[02:19.96]偿还
[02:20.51]payback period
[02:21.34]回收期
[02:22.16]Preferred stock
[02:23.03]优先股
[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]资本成本
[02:28.11]debt
[02:28.53]债务
[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]财务管理是关于财富的保值和增值的理论。
[02:37.26]The goal of the firm is maximization of shareholder4 wealth.
[02:39.99]企业的目标是使股东财富最大化。
[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]资本收益(或损失)是指除正常业务外企业出售资产的收益(或损失)。
[02:52.56]Money market refers to all institutions and procedures that provide for transactions in short_term debt instruments.
[02:57.36]货币市场指所有为了短期债务融资工具的交易而设置的机构和程序。
[03:02.15]The capital market refers to all institutions and procedures that provide for transactions in long_term financial instruments.
[03:06.93]资本市场是指所有为了长期金融工具的交易而设置的机构和程序。
[03:11.71]Real assets are tangible6 assets like houses,equipment,and inventories7.
[03:14.36]实物资产是指有形资产,如房屋、设备和存款。
[03:17.02]Financial assets represent claims for future payment on other economic units.
[03:20.01]金融资产代表对其他经济单位未来付款的求偿权。
[03:23.00]Common and preferred stocks,bonds,bills,and notes are all types of financial assets.
[03:26.48]普通股、优先股、债券、票据等都属于金融资产。
[03:29.97]Three basic financial statements are commonly used to describe the financial condition and performance of the firm:
[03:34.69]通常用三种基本财务报表来描述财务状况和公司业绩:
[03:39.40]the balance sheet,the income statement and the cash flow statement.
[03:42.16]资产负债表、损益表和现金流量表。
[03:44.91]Three basic financial statements are commonly used to describe the financial condition and performance of the firm:
[03:48.77]通常用三种基本财务报表来描述财务状况和公司业绩:
[03:52.62]the balance sheet,the income statement and the cash flow statement.
[03:55.26]资产负债表、损益表和金流量表。
[03:57.90]balance sheet
[03:58.60]资产负债表
[03:59.31]Financial ratio analysis helps us identify some of the financial strengths and weaknesses of a company.
[04:03.57]财务比率分析有助于我们了解公司经营状况的好坏和财务地位的强弱。
[04:07.82]The liquidity8 of a business is defined as its ability ot meet maturing debt obligations.
[04:10.92]公司资产的流动性通常定义为公司偿还到期债务的能力。
[04:14.01]Forecasting in financial management is used to estimate a firm's future financial needs.
[04:17.15]财务管理中的预测是指估计公司未来的融资需求。
[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]复利是指以上一期的利息加上本金为基数计算当期利息的方法。
[04:32.95]Present value is the current value of a future payment.
[04:35.13]现值是指未来一笔收入折合到现在的价值。
[04:37.32]The expected returns an investment generates come in the form of cash flows.
[04:40.07]期望收益来源于投资产生的预期现金流。
[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]投资的预期收益率是所有可能的收益率的概率加权平均。
[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]投资者要求的收益率可以定义为吸引投资者购买或持有某种证券的最低收益率。
[05:06.05]Risk for our purposes in the variability of returns and may be measured by the standard deviation10.
[05:10.15]风险是预期收益不能实现的可能性,可用标准差来度量。
[05:14.25]A bond is a type of debt or long_term promissory note,issued by the borrower,
[05:17.35]债券是由借债者发行,
[05:20.44]promising to pay its holder5 a predetermined and fixed11 amount of interest per year.
[05:24.00]并承诺按期付给债券持有者预先约定的固定利息的一种长期票据。
[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]公司清偿时,债权人对公司资产的追偿权要先于普通股股东及优先股股东。
[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]债券的价值等于投资者将来所收到的利息收入和本金以及票面溢值的现值之和。
[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]优先股常常被人称为混合证券,因为它兼有普通股和债券的特点。
[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权的一种证书。
[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现金投入所需要的年数。
[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]一项投资的净现值等于预值未来每年税后净现金流的现值减去项目初始投资支出。
[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]获利能力指数,又称收益/费用比率,是指未来净现金流的现值与初始现金流比值的比率。
[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]内部收益率是指使项目未来净现金流量的现值与该项目初始投资支出值相等时的贴现率。
[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]资本加权平均成本由若干个单个融资成本加权平均而成,以和每项融资在全部资本中所占的百分数为权重。
[07:05.93]Capital structure is the mix of the long_term sources of funds used by the firm.
[07:08.59]资本结构是指公司长期资本的组合结构。
[07:11.26]Target capital structure mix is the mix of financing sources that the firm plans to maintain through time.
[07:15.75]目标资本结构组合是公司一定时期计划拥有的融资组合。
[07:20.24]The dividend18 payout ratio indicates the amount of dividends19 paid relative to the company's earnings20.
[07:24.43]红利支付率即现金红利占公司净收益的百分比。
[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]公司的红利政策包含两个基本因素:红利支付率和红利的稳定性。
[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]股票回购是指公司购买自己的股票,以使流通的股票数量减少。
[07:49.71]An integral part of dividend policy is the use of stock dividends and stock splits.
[07:52.76]股票红利和股票分割的应用是红利政策中的必要组成。
[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]营运资本管理可以看作管理公司的流动性,包括流动资产管理和流动负债管理。
[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]营运资本管理中的风险收益权衡就是在公司的流动性和盈利性之间进行权衡。
[08:20.74]A company-wide cash management program must be concerned with minimizing the firm's risk of insolvency.
[08:25.70]公司现金管理的目标是使公司的支付风险率降低到最低限度。
[08:30.67]Insolvency describes the situation where the firm is unable to meet its maturing liabilities on time.
[08:35.70]支付风险是指公司无力按期偿还到期的各种债务。
[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]库存管理包括对公司生产过程中使用的资产及公司生产出来用于销售的资产的控制。


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1 invoice m4exB     
vt.开发票;n.发票,装货清单
参考例句:
  • The seller has to issue a tax invoice.销售者必须开具税务发票。
  • We will then send you an invoice for the total course fees.然后我们会把全部课程费用的发票寄给你。
2 tighten 9oYwI     
v.(使)变紧;(使)绷紧
参考例句:
  • Turn the screw to the right to tighten it.向右转动螺钉把它拧紧。
  • Some countries tighten monetary policy to avoid inflation.一些国家实行紧缩银根的货币政策,以避免通货膨胀。
3 dealing NvjzWP     
n.经商方法,待人态度
参考例句:
  • This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
  • His fair dealing earned our confidence.他的诚实的行为获得我们的信任。
4 shareholder VzPwU     
n.股东,股票持有人
参考例句:
  • The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
  • A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。
5 holder wc4xq     
n.持有者,占有者;(台,架等)支持物
参考例句:
  • The holder of the office of chairman is reponsible for arranging meetings.担任主席职位的人负责安排会议。
  • That runner is the holder of the world record for the hundred-yard dash.那位运动员是一百码赛跑世界纪录的保持者。
6 tangible 4IHzo     
adj.有形的,可触摸的,确凿的,实际的
参考例句:
  • The policy has not yet brought any tangible benefits.这项政策还没有带来任何实质性的好处。
  • There is no tangible proof.没有确凿的证据。
7 inventories 9d8e9044cc215163080743136fcb7fd5     
n.总结( inventory的名词复数 );细账;存货清单(或财产目录)的编制
参考例句:
  • In other cases, such as inventories, inputs and outputs are both continuous. 在另一些情况下,比如存货,其投入和产出都是持续不断的。
  • The store must clear its winter inventories by April 1st. 该店必须在4月1日前售清冬季存货。
8 liquidity VRXzb     
n.流动性,偿债能力,流动资产
参考例句:
  • The bank has progressively increased its liquidity.银行逐渐地增加其流动资产。
  • The demand for and the supply of credit is closely linked to changes in liquidity.信用的供求和流动资金的变化有密切关系。
9 investor aq4zNm     
n.投资者,投资人
参考例句:
  • My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
  • The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。
10 deviation Ll0zv     
n.背离,偏离;偏差,偏向;离题
参考例句:
  • Deviation from this rule are very rare.很少有违反这条规则的。
  • Any deviation from the party's faith is seen as betrayal.任何对党的信仰的偏离被视作背叛。
11 fixed JsKzzj     
adj.固定的,不变的,准备好的;(计算机)固定的
参考例句:
  • Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗?
  • Once the aim is fixed,we should not change it arbitrarily.目标一旦确定,我们就不应该随意改变。
12 insolvency O6RxD     
n.无力偿付,破产
参考例句:
  • The company is on the verge of insolvency.该公司快要破产了。
  • Normal insolvency procedures should not be applied to banks.通常的破产程序不应当适用于银行。
13 par OK0xR     
n.标准,票面价值,平均数量;adj.票面的,平常的,标准的
参考例句:
  • Sales of nylon have been below par in recent years.近年来尼龙织品的销售额一直不及以往。
  • I don't think his ability is on a par with yours.我认为他的能力不能与你的能力相媲美。
14 maturity 47nzh     
n.成熟;完成;(支票、债券等)到期
参考例句:
  • These plants ought to reach maturity after five years.这些植物五年后就该长成了。
  • This is the period at which the body attains maturity.这是身体发育成熟的时期。
15 hybrid pcBzu     
n.(动,植)杂种,混合物
参考例句:
  • That is a hybrid perpetual rose.那是一株杂交的四季开花的蔷薇。
  • The hybrid was tall,handsome,and intelligent.那混血儿高大、英俊、又聪明。
16 outlay amlz8A     
n.费用,经费,支出;v.花费
参考例句:
  • There was very little outlay on new machinery.添置新机器的开支微乎其微。
  • The outlay seems to bear no relation to the object aimed at.这费用似乎和预期目的完全不相称。
17 equates 7b5a7f0640b2cedfd39d5d5473d911d4     
v.认为某事物(与另一事物)相等或相仿( equate的第三人称单数 );相当于;等于;把(一事物) 和(另一事物)等同看待
参考例句:
  • He equates success with material wealth. 他认为成功等同于物质财富。 来自《简明英汉词典》
  • This equates to increased and vigor, better sleep and sharper mental acuity. 也就是说可以起到增强活力,改善睡眠,提高心智的作用。 来自互联网
18 dividend Fk7zv     
n.红利,股息;回报,效益
参考例句:
  • The company was forced to pass its dividend.该公司被迫到期不分红。
  • The first quarter dividend has been increased by nearly 4 per cent.第一季度的股息增长了近 4%。
19 dividends 8d58231a4112c505163466a7fcf9d097     
红利( dividend的名词复数 ); 股息; 被除数; (足球彩票的)彩金
参考例句:
  • Nothing pays richer dividends than magnanimity. 没有什么比宽宏大量更能得到厚报。
  • Their decision five years ago to computerise the company is now paying dividends. 五年前他们作出的使公司电脑化的决定现在正产生出效益。
20 earnings rrWxJ     
n.工资收人;利润,利益,所得
参考例句:
  • That old man lives on the earnings of his daughter.那个老人靠他女儿的收入维持生活。
  • Last year there was a 20% decrease in his earnings.去年他的收入减少了20%。
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TAG标签:   工商管理  chapter  财务管理
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