新编剑桥商务英语高级BECU12-17,24,27 整理.doc

Unit12BEC整理 11 / 11advertising 广告aimed 旨在awareness 意识channel 渠道loyalty 忠诚maturity成熟medium 中小型tactics 策略、战略target 目标trial 尝试The basic idea behind the marketing concept - that you make what you can sell rather than sell what you make - does not mean that your product will sell all by itself. Even a good, attractively-priced product that clearly satisfies a need has to be made known to its target customers.市场营销的基本观点是做你可以卖的，而不是卖你做的并不意味着您的产品将全部自动售出。即使是一个很好的、价格诱人的、且显然满足于某一需求的产品，也必须要让它的目标客户知晓。Sales promotions can also be aimed at distributors, dealers and retailers, to encourage them to stock new items or larger quantities, or to encourage off-season buying, or the stocking of items related to an existing product. 促销也可以针对分销商、经销商和零售商，鼓励他们去购买新的商品或更大的数量，或鼓励淡季购买，或商品的存储与现存的产品有关的项目。1. advertising广告 competitors竞争对手 publicity宣传 sales promotion促销2. advertising agency广告代理 advertising campaign广告活动 media plan媒体计划 word-of-mouth advertising 口头广告 3. advertising manager广告经理 brand-switcher经常换品牌的人 marketing manager营销经理 sales rep销售代表4. after-sales service售后服务 guarantee保修 optional features选择性功能 points of sale 销售地点5. brand awareness品牌意识 brand loyalty品牌忠诚 brand name品牌名- brand preference品牌偏好6. competitions竞争coupons优惠券 free samples免费样品 line-stretching产品线延伸7. credit terms信贷条款 discount折扣 list price价目表 packaging包装8. decline下降 growth成长 introduction引进 product improvement产品改进9. focus group interviews焦点团体访谈 internal research内部研究 media plan媒介计划 questionnaire调查问卷10. packaging包装 place地方 product产品 promotion促销Unit13Bookkeeping 簿记Accounting 会计、会计学managerial accounting 管理会计 cost accounting 成本会计tax accounting 税务会计auditing 牢记“creative accounting” 违法伪造会计assets 资产liabilities 负债 turnover 营业额 earnings or income 收入stock (GB) or inventory (US) 存储 存货shareholders (GB) or stockholders (US) 股东depreciation (GB) or amortization (US) 折旧 creditors (GB) or accounts payable (US) 债权人 应付账额debtors (GB) or accounts receivable (US) 债务人 应收账额 overheads (GB) or overhead (US) 一般管理费用In times of inflation, this understates the value of appreciating assets such as land, but overstates profits as it does not record the replacement cost of plant or stock.在通货膨胀时期，这低估了资产升值的价值，如土地的价值，但高估了利润，因为它没有记录的工厂或股票的替代成本Part of the profit goes to the government in taxation, part is usually distributed to shareholders (stockholders) as a dividend and part is retained by the company. 利润的一部分以税收的形式给了政府，一部分是常常被分配给股东作为股息，还有一部分是被公司留存。Companies also have intangible assets, whose value is difficult to quantify or turn into cash, such as goodwill, patents, copyrights and trade marks. 公司还拥有无形资产，其价值是难以量化或换算成现金，如商誉、专利、版权及商标。the basic accounting equation : Assets = Liabilities + Owners Equity基本会计等式：资产=负债+所有者权益Unit14cash card 借记卡credit card 信用卡home banking 家庭银行loan 贷款mortgage 抵押overdraft 透支standing order or direct debit 直接借记current account (GB) or checking account (US) 活期存折deposit account (GB) or time or notice account (US) 储蓄存款cash dispenser (GB) or ATM (automated teller machine) (US) 自动取款机Commercial or retail banks are businesses that trade in money. They receive and hold deposits, pay money according to customers instruction, lend money, offer investment advice, exchange foreign currencies and so on.商业或零售银行是货币交易的企业。他们接受和留存存款，根据客户的指令付钱、借出钱、提供投资建议、兑换外币等。Investment banks, often called merchant banks in Britain, raise funds for industry on the various financial markets, finance international trade, issue and underwrite securities, deal with takeovers and mergers, and issue government bonds.投资银行在英国经常被称为商业银行，为各种金融市场的工业筹集资金，资助国际贸易，发行和认购证券，涉及收购与合并和发行国债。Banks lend to blue chip borrowers (very safe large companies) at the base rate or the prime rate; all other borrowers pay more, depending on their credit standing (or credit rating, or creditworthiness): the leaders estimation of their present and future solvency.银行会以最基本利率或最优惠利率借钱给蓝筹借款人（非常安全的大公司）；其他所有的借款人支付利率的多少取决于他自己的信贷信誉（或信贷评级，或信用可靠性）：出借人对于他们现在及未来偿付能力的估计。Furthermore, banks are not obliged to deposit any of their Eurocurrency assets at 0% interest with the central bank, which means that they can usually offer better rates to borrowers and depositors than in the home country.此外，银行没有义务以零利率把钱存入央行，这意味着，他们通常可以提供更好的价格给借款人和存款人，比在本国的借存款更好的利率。deposit 存款foreign currencies 外币yield 产量、收益liquidity 流动性maturity 到期日underwrite 包销takeover 收购merger 合并stockbrooking证券经纪portfolio management 管理投资组合deregulation 放松管制conglomerate 企业集团blue chip 蓝筹solvency 偿债能力collateral 抵押品charge interest 收取利息pay interest 支付利息do business 做生意exchange currencies 兑换货币issue bonds 发行债券make loans 做贷款make profits 赚取利润offer loans 提供贷款offer advice 提供咨询raise interest 加息receive deposits 接受存款underwrite security issues 承销安全问题unit15A limited company is a legal entity separate from its owners and is only liable for the amount of capital that has been invested in it. If a limited company goes bankrupt, it is wound up and its assets are liquidated (i.e. sold) to pay the debts.一个有限责任公司是一个与其所有者相对独立的法人实体，他只对已经投资的资金负责。如果一个有限责任公司破产，被关闭，他的资产被清算（卖出）来支付债务。Companies generally use an investment bank to underwrite the issue, i.e. to guarantee to purchase all the securities at an agreed price on a certain day, if they cannot be sold to the public.公司一般采用投资银行来认购债券，也就是保证买所有的债券在某个既定的一天以既定的价格购买，如果他们不能向公众出售所有证券。liability 责任creditor 债权人bankrupt=insolvent 破产assets资产liquidate 清算liabilities 负债put up capital 投入资金venture capital 风险资本founders 创办人premises 前提underwrite 包销dividend股息blue chip 蓝筹股defensive stock 防御性股票growth stock 增长性股票insider share-dealing 内部交易institutional investors 机构投资者mutual fund 共有基金market-maker 准备上市的股票的经纪人portfolio 投资组合stockbroker 股票经纪人1. annual report年度报告external auditors外聘核审计师 financial statements财务报表 stockbroker股票经纪人2. blue chip蓝筹股 defensive stock防御性股票 growth stock成长型股票rights issue增股3. bonus issue红利发行 dividend股利 over-the-counter场外交易 shareholder股东4. creditor债权人 market-maker准备上市的股票的经纪人 shareholder股东stockbroker股票经纪人5. debt债务 equity股票 share股票 stock股票6. face value票面价值 market value市场价值 nominal value面值 par value面值7. float浮动 liquidation清算 share issue发行股票 underwriter认购8. institutional investor机构投资者 insurance company保险公司 liabilities负债pension fund养老保险基金9. mutual fund共同基金 portfolio投资组合 risk风险 underwriter认购unit16investors 投资者issuing bonds 发行债券principal 校长、本金maturity 到期日pension funds 养老金buy-and-hold investors 长期投资者non-payment 不付钱price appreciation 升值price depreciation 贬值capital gains 资本收益More and more companies now issue their own bonds rather than borrow from banks, because this is often cheaper: the market may be a better judge of the firms creditworthiness than a bank, i.e. it may lend money at a lower interest rate. This is evidently not a good thing for the banks, which now have to lend large amounts of money to borrowers that are much less secure than blue chip companies.越来越多的公司发行自己的债券，而不是向银行借款，因为这样更便宜：市场可能是一个比银行更好的信誉等级评价，也就是，它可以以一个更低的利率借出钱。对银行来说，这显然不是一件好事，现在银行不得不借出大量的钱给那些不比蓝筹公司那么安全的借款人。In other words, a company deducts its interest payments from its profits before paying tax, whereas dividends are paid out of already-taxed profits.换句话说，公司在纳税前从利润中扣除其支付的利息，已征税的利润来支付股息。On the other hand, increasing debt increases financial risk: bond interest has to be paid, even in a year without any profits from which to deduct it, and the principal has to be repaid when the debt matures, whereas companies are not obliged to pay dividends or repay share capital. 另一方面，渐增的债务增加了金融风险：债券利息的支付，即使在一年内，扣除它后没有任何利润，当债务到期时当事人必须偿还，然而公司没有义务支付股息或偿还股本。equity financing 股权融资issuing shares 发行股票debt financing 债务融资issuing bonds 发债bearer certificate 承载证书liquid 自由兑换yield 收益coupon 息票par 票面的=nominal=face value (100%)the rate of interest paid by a fixed interest security 固定收益证券Unit17futures 期货options 期权commodities 日用品derivatives: 金融衍生品hedging 套期保值speculation 投机premium 议价，升水discount 贴水spot market 现货市场futures marker 期货市场Yet there are also futures markets on which contracts can be made to buy and sell commodities, currencies, and various financial assets, at a future date (e.g. three, six or nine months ahead), but with the price fixed at the time of the deal.然而，也有期货市场的合约可以购买和出售商品，货币和各种金融资产在未来某个日期（如三个月，六个月或九个月之后），但是按照交易时既定的价格交易。Futures, options and other derivatives exist in order that companies and individuals may attempt to diminish the effects of, or profit from, future changes in commodity and asset prices, exchange rates, interest rates, and so on.期货，期权和其他金融衍生的存在是为了公司和个人尝试去减少影响，或，从商品和资产价格、汇率、利率的未来变化中获得利润。Alternatively, you can write a put option giving someone else the right to sell the shares at 100: if the market price remains above 100, no one will exercise the option, so you earn the premium.也许，你可以卖一个看跌期权，给别人100股这个权利：如果市场价格仍然保持在100以上，没有人会行使这个权，因此你赚取了升水。appreciate depreciate 升值 - 贬值call put 看涨 看跌discount premium 贴水 升水drought flood 干旱 洪水floating fixed 浮动 - -固定hedging speculation 对冲 投机spot market futures market现货市场 - 期货市场strike price market price 敲定价格 - 市场价格unit24Theoretically, in the absence of speculation, exchange rates should reflect purchasing power parity - the cost of a given selection of goods and services in different countries. 从理论上讲，在没有投机的情况下，汇率会反映购买力平价 选择在不同国家的货物和服务的成本。Proponents of floating exchange rates, such as Milton Friedman, argued that currencies would automatically establish stable exchange rates, which would reflect economic realities more precisely than calculations by central bank officials.浮动汇率的支持者如米尔顿弗里德曼，认为货币会自动建立稳定的汇率，这比央行官员所反映经济现实更为精确。This has led to the current situation in which 95% of the worlds currency transactions are unrelated to transactions in goods but are purely speculative