finance相关词组.doc

1、annual return 年度收益、年利润The return an investment provides over a period of time, expressed as a time-weighted annual percentage. Sources of returns can include dividends, returns of capitaland capital appreciation. The rate of annual return is measured against the initial amount of the investment and represents a geometric mean rather than a simple arithmetic mean.Annual return is the de facto method for comparing the performance of investments with liquidity, which includes stocks, bonds, funds, commodities and some types of derivatives. Different asset classes are considered to have different strata of annual returns.2、annuity 年金A financial product sold by financial institutions that is designed to accept and grow funds from an individual and then, upon annuitization, pay out a stream of payments to the individual at a later point in time. Annuities are primarily used as a means of securing a steady cash flow for an individual during their retirement years.3、breakup value (破产企业)清理价值(指把资产分开出售所得的价值)；(公司解散并出售其各部门之后的)残(余价)值The sum-of-parts value of a publicly traded company.This value is derived by analyzing each business segment of a company independently.This is usually applied to large cap stocks that are likely to operate in several different markets or industries.A breakup value analysis may be brought about by investors if the market cap of the stock is less than the breakup value for a prolonged period of time.4、compound interest 复利Interest added to interest previously earned on a principal balance. Compounding increases the depositors rate of return on bank balances and the lenders effective yield on the unpaid principal of outstanding loans.5、simple interest 单利A quick method of calculating the interest charge on a loan. Simple interest isdetermined by multiplying the interest rate by the principal by the number of periods.Simple interest=P*I*N, Where:P is the loan amount,I is the interest rate,Nis the duration of the loan, using number of periods6、cost benefit analysis成本效益分析A process by which business decisions are analyzed. The benefits of a given situation or business-related action are summed and then the costs associated with taking that action are subtracted.7、 Credit risk 信用风险The risk of loss of principal orloss of a financial reward stemming from a borrowers failure to repay a loan or otherwise meet a contractual obligation. Credit risk arises whenever a borrower is expecting to use future cash flows to pay a current debt. Investors are compensated for assuming credit risk by way of interest payments from the borrower or issuer of a debt obligation.Credit risk is closely tied to the potential return of an investment, the most notable being that the yields on bonds correlate strongly to their perceived credit risk.8、 Diversification 分散风险Corporate growth strategy whereby a business builds its total sales by acquiring or establishing other businesses that are not directly related to the companys present product or market.9、federal discount rate 联邦贴现率The interest rate set by the Federal Reserve that is offered to eligible commercial banks orother depositoryinstitutions in an attempt to reduce liquidity problems and the pressuresof reserve requirements. The discount rate allows the federal reserve to control the supply of money and is used to assure stability in the financial markets.10、finance 金融The science that describes the management of money, banking, credit, investments, and assets. Basically, finance looks at anything that has to do with money and the market.11、future value 终值The value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today. There are two ways to calculate FV:1) For an asset with simple annual interest: = Original Investment x (1+(interest rate*number of years)2) For an asset with interest compounded annually: = Original Investment x (1+interest rate)number of years)12、present value 现值Thecurrent worthof a future sum of moneyor stream of cash flowsgiven a specified rate of return. Future cash flows are discounted at the discount rate, and the higher the discount rate, the lower the present value of the future cash flows.Determining the appropriate discount rate is the key to properly valuing future cash flows, whether they be earnings or obligations.The basis is thatreceiving $1,000 now is worth more than $1,000 five years from now, because if you got the money now, you could invest it and receive an additional return over the five years.13、rate of return 收益率The gain or losson an investment over a specified period, expressed asa percentage increase over the initial investment cost. Gains on investments are considered to beany income received from the security plus realized capital gains.Nickson deposits $100 in a savings account. At the end of the year Nickson receives a payment of $5. Nicksonsrate of returnis 5%.14、yield 收益（税收、投资等）The income return on an investment. This refers to theinterest or dividends received from a security and isusually expressed annually as a percentage based on the investments cost,its current market value orits face value.15、interest 利息1. The charge for the privilege of borrowing money, typically expressed as an annual percentage rate.2. The amount of ownership a stockholder has in a company, usually expressed as a percentage.Interest is commonly calculated using one of two methods: simple interest calculation, or compound interest calculation.16、finance charge 财务费用A fee charged for the use of credit or the extension of existing credit.May be a flat fee or a percentage of borrowings,with percentage-based finance charges being themost common. A finance charge is often an aggregated cost, including the cost of the carrying the debt itself along with any related transaction fees, account maintenance feesor late fees charged by the lender.17、bond 债券A debt investmentin which aninvestor loans money to an entity (corporate or governmental) that borrows the funds for a defined period of time at a fixedinterest rate. Bonds are used by companies, municipalities, states and U.S. and foreign governments to finance a variety of projects and activities.Bonds are commonly referred to as fixed-income securities and are one of the three main asset classes, along with stocks and cash equivalents.18、financing 资金融通The act of providing funds forbusiness activities, makingpurchases orinvesting.Financial institutions and banks are in the business of financing as they provide capital to businesses, consumers and investors to help them achieve their goals.19、financial institution 金融机构An establishment that focuses on dealing with financial transactions,such asinvestments, loans and deposits. Conventionally, financial institutions are composed oforganizations such asbanks, trust companies, insurance companies and investment dealers. Almost everyonehas deal with a financial institution on aregular basis. Everything from depositing money to taking out loans and exchange currenciesmust bedone through financial institutions.20、fair market value 公允市价price at which an asset or service passes from a willing seller to a willing buyer. It is assumed that both buyer and seller are rational and have a reasonable knowledge of relevant facts.example: property is condemned for public use, the owner is entitled to be compensated atfair market value.21、mortgage 按揭Adebt instrument that issecured by the collateral of specified real estate property andthatthe borrower is obliged to pay back with apredetermined set of payments. Mortgages are used by individuals and businesses to make large purchases of real estate without paying the entire value of the purchase up front.In a residentialmortgage, a home buyer pledges his or her houseto the bank. The bank has a claim on the house should the home buyer default on payingthe mortgage.22、merger 兼并The combining of two or more companies, generally by offering the stockholders of one company securities in the acquiring company in exchange for the surrender of their stock.Basically, when two companies become one. This decision is usually mutual between both firms.23、hostile takeover 恶意收购The acquisition of one company (called the target company) by another (called the acquirer) that is accomplished not by coming to an agreement with the target companysmanagement, but by goingdirectly tothe companys shareholders or fighting to replace management in order to get the acquisition approved. A hostile takeover can be accomplished through either a tender offer or a proxy fight.24、debenture 无担保债券Atype of debt instrument that is not secured by physical asset or collateral.Debentures are backed only by the generalcreditworthinessandreputation of the issuer.Both corporations and governments frequently issue this type of bond in order to secure capital.25、bad debt reserve 坏账准备Anaccount set aside by a company toaccount for and offset lossesthat arise as a result of defaults fromfutures loans.Thisfiguremay be calculated based on historical norms or other known information about the relative safety of the debt.2、年金，是定期或不定期的时间内一系列的现金流入或流出。如分期付款赊购，分期偿还贷款、发放养老金、支付租金、提取折旧等都属于年金收付形式。参与年金计划是一种很好的投资安排，而提供年金合同的金融机构一般为保险公司和国库券等，比如你购买养老保险，其实就是参与年金合同。年金终值包括各年存入的本金相加以及各年存入的本金所产生的利息，但是，由于这些本金存入的时间不同，所以所产生的利息也不相同。4、复利是与单利相对应的经济概念。单利的计算不用把利息计入本金；而复利恰恰相反，它的利息要并入本金中重复计息。复利就是复合利息，它是指每年的收益还可以产生收益，具体是将整个借贷期限分割为若干段，前一段按本金计算出的利息要加入到本金中，形成增大了的本金，作为下一段计算利息的本金基数，直到每一段的利息都计算出来，加总之后，就得出整个借贷期内的利息，简单来说就是俗称的利滚利。有人甚至称其为“世界第八大奇观”。从定义上可以看出复利的要素有三个：初始本金、报酬率和时间。5、单利指借款的成本或放贷的收益，是计算利息的一种方法。单利的计算取决于所借款项或贷款的金额（本金），资金借用时间的长短及市场一般利率水平等因素。按照单利计算的方法，只要本金在贷款期限中获得利息，不管时间多长，所生利息均不加入本金重复计算利息。这里所说的“本金”是指贷给别人以收取利息的原本金额。“利息”是指借款人付给贷款人超过本金部分的金额。6、成本效益分析是通过比较项目的全部成本和效益来评估项目价值的一种方法，成本效益分析作为一种经济决策方法，将成本费用分析法运用于政府部门的计划决策之中，以寻求在投资决策上如何以最小的成本获得最大的效益。常用于评估需要量化社会效益的公共事业项目的价值。成本效益分析法的基本原理是：针对某项支出目标，提出若干实现该目标的方案，运用一定的技术方法，计算出每种方案的成本和收益，通过比较方法，并依据一定的原则，选择出最优的决策方案7、信用风险（Credit Risk）是银行贷款或投资债券中发生的一种风险，也即为借款者违约的风险。信用风险是借款人因各种原因未能及时、足额偿还债务或银行贷款而违约的可能性。发生违约时，债权人或银行必将因为未能得到预期的收益而承担财务上的损失。信用风险对于银行、债券发行者和投资者来说都是一种非常重要的影响决策的因素。若某公司违约，则银行和投资者都得不到预期的收益。8、分散风险，在证券投资上，是指将资金分配在多种资产上，而这些资产的回报率相互之间的关联性比较低，以达分散风险的目的。这样做既可以降低风险，又不会损及收益。9、联邦贴现率：贴现率又称门槛比率，是指商业银行办理票据贴现业务时，按一定的利率计算利息，这种利率即为贴现率，它是票据贴现者获得资金的价格。常用于票据贴现。企业所有的应收票据，在到期前需要资金周转时，可用票据向银行申请贴现或借款。银行同意时，按一定的利率从票据面值中扣除贴现或借款日到票据到期日止的利息，而付给余额。贴现率的高低，主要根据金融市场利率来决定。10、金融是货币流通和信用活动以及与之相联系的经济活动的总称，广义的金融泛指一切与信用货币的发行、保管、兑换、结算，融通有关的经济活动，甚至包括金银的买卖，狭义的金融专指信用货币的融通。11、终值又称将来值或本利和，是指现在一定量的资金在将来某个时点上的价值. 在日常生活中有许多属于终值计算的问题。终值的计算有两种方式：单利和复利。12、现值是在给定的利率水平下，未来的资金折现到现在时刻的价值，是资金时间价值的逆过程。在现值计量下，资产按照预计从其持续使用和最终处置中所产生的未来净现金流入量折现的金额，负债按照预计期限内需要偿还的未来净现金流出量折现的金额。当预期的现金流入需要待一个时期才能收到时，或预期的现金流出需要待一个时期才会支出时，这些收入或支出的现值要比收取或支付的实际数额为少。等待的时间越长，其现值也就越小。例如，在三年终了时将要收到1000元，若折现率为6%，则该项资产的现值为839.62元1000/(1+6%)3。13、收益率是指投资的收益率，一般以年度百分比表达，根据当时市场价格、面值、息票利率以及距离到期日时间计算。对公司而言，收益率指净利润占使用的平均资本的百分比。15、利息是资金所有者由于借出资金而取得的报酬，它来自生产者使用该笔资金发挥营运职能而形成的利润的一部分。是指货币资金在向实体经济部门注入并回流时所带来的增殖额。16、财务费用：财务费用是指企业为筹集生产经营所需资金等而发生的费用，包括利息支出（减利息收入）、汇兑损失（减汇兑收益）以及相关的手续费等。包括企业生产经营期间发生的利息支出（减利息收入）、汇兑净损失、金融机构手续费，以及筹资发生的其他财务费用如债券印刷费、国外借款