财务管理专业英语unitPPT课件

1 Unitone A IntroductiontoFinancialManagement 2 Teachingobjectives Afterlearningthissection thestudentsarerequiredto graspsomeofbasictheoriesrelatedtofinancialmanagement graspsomeimportantwordsandexpressions haveabetterunderstandingofthefinancialmanagementandfinancialmanager understandbrieflythefinancialmanagementdecision 3 WisdomMoneybegets orbreedsorgets money AnonymousBoundlessriskmustpayforboundlessgain WilliamMomis 4 Minicase DellComputermanufactures sells andservicespersonalcomputers Thecompanymarketsdirectlytoitscustomersandbuildscomputersafterreceivingacustomerorder Thisbuild to ordermodelenablesDelltohavemuchsmallerinvestmentinworkingcapitalthanitscompetitors Dellhasgrownquicklyandhasbeenabletofinancethatgrowthinternallybyitsefficientuseofworkingcapitalanditsprofitabillity 5 Readtheminicaseandthink 1 What stheDell sSalesphilosophy 2 Findthespecializedvocabularyoffinancialmanagement 6 Dell销售理念 按照客户要求制造计算机 并向客户直接发货 使戴尔公司能够最有效和明确地了解客户需求 继而迅速做出回应 这个直接的商业模式消除了中间商 这样就减少了不必要的成本和时间 让戴尔公司更好地理解客户的需要 7 wordsstudy1 financialmanagement财务管理2 decision making决策 决策的investmentdecisions financingdecisions 3 acquisition收购 purchase acquire取得acquisitionandlossofownership所有权的取得和丧失4 publiclytradedcorporations上市公司listedcorporationstockispubliclytradedbutmostisheldbyafewshareholderswhohavenoplanstosell股票公开买卖 但是大部分股票被少数不计划卖出的股东控制 8 5 vicepresidentoffinance财务副总裁chieffinancialofficer CFO 首席财务官chiefexecutiveofficer CEO 首席执行官6 pivotal关键的Anydeviationfromthiseconomypivotaltaskendangersourmaterialbase 离开了经济建设这个中心 就有丧失物质基础的危险 7 allocate 资源 权利 配置capitalallocation资本配置allocateshares分配股份 9 8 Volatility不稳定性Interestratesandfinancialmarketvolatilitywouldremainhighduetothemarketuncertainty 市场前景不明朗 亦会令利率持续高起 金融市场波动 9 balancesheet资产负债表income profit statement利润表cashflowstatement现金流量表10 capitalbudgeting资本预算capitalstructure资本结构workingcapitalmanagement营运资本管理CapitalBudgetingandLong termFinancingmanagement资本预算及远期财务管理 10 11 stockholder shareholder 股东NoneoftheshareholderattendtheAGM 没有一个股东出席年度股东大会 12 tradeoff权衡 折中risk returntradeoff风险 收益权衡13 inventory存货makeaninventoryof盘点 编制 清单14 patent专利trademark商标internationalprotectionofpatent专利权的国际保护Whattrademarkisit 什么品牌的 15 creditor债权人Hecometoanarrangementwithhiscreditor 他与债权人达成解决纠纷协议 11 16 mixofdebtandequity负债与股票的组合cashdividend现金股利dividendpolicy股利政策dividend payoutratio股利支付比率riskaversion风险规避stockrepurchase stockbuyback 股票回购stockoffering股票发行financingmix融资组合 12 commonstock普通股preferredstock优先股currentasset流动资产currentliability流动负债stockholders equity股东权益marketablesecurity流动性证券tangiblefixedassets有形固定资产intangiblefixedassets无形固定资产 13 1 1FinancialManagementandFinancialManager1 2FinancialManagementDecision1 3Risk ReturnTradeoff Textstudy 14 FinancialManagementandFinancialManager Financialmanagementisanintegrateddecision makingprocessconcernedwithacquiring financing andmanagingassetstoaccomplishsomeoverallgoalwithinabusinessentity managerialfinancecorporatefinancebusinessfinanceCEO chiefexecutiveofficerCFO chieffinancialofficervicepresidentoffinance 15 Whoarethepeopleofthefinancialmanagers Thepersonassociatedwiththefinancialmanagementfunctionisusuallyatopofficerofthefirmsuchasavicepresidentorthechieffinancialofficer CFO Whatarethedutiesandresponsibilitiesofthefinancialmanager Thetwomainfunctionsofthefinancialmanagerconcernacquiringandallocatingfundsamongafirm sactivities Theyalsoactsasaliaisonbetweenothersinthefinancedepartmentandmanagementpersonnelfromotherdepartments 16 FinancialManagementDecision Long terminvestmentdecisions Whatlong terminvestmentsshouldthefirmundertake Long termfinancingdecisions Howshouldthefirmraisemoneytofundtheseinvestments WorkingCapitalManagementDecisions Howshouldthefirmmanageitsshort termassetsandliabilities 17 Long terminvestmentdecisionsInwhatlinesofbusinessshouldthefirmengage Shouldthefirmacquireothercompanies Whatsortsofproperty plant andequipmentshouldthefirmhold Shouldthefirmmodernizeorsellanoldproductionfacility Shouldthefirmintroduceamoreefficientdistributionsystemthanthecurrentone 18 1 Thenotionofthecapitalbudgeting Processofplanningandmanagingafirm slong terminvestmentsiscalledbudgeting 2 Theinvestmentprinciple Thefirmshouldinvestinassetsandprojectsyieldingareturngreaterthantheminimumacceptablehurdlerate 19 Long termfinancingdecisionsDoesthetypeoffinancingusedmakeadifference Istheexistingcapitalstructuretherightone Howandwhereshouldthefirmraisemoney Shouldthefirmusefundsraisedthroughitsrevenues Shouldthefirmraisemoneyfromoutsidethebusiness Ifthefirmseeksexternalfinancing shoulditbringinotherownersorborrowthemoney 20 Howtoraisefundexternally Thefinancialmanagerarisefundsexternallybyincurringdebts suchasthroughbankloansorthesaleofbonds orbysellingownershipintereststhroughastockoffering 21 WorkingCapitalManagementDecisionsHowmuchofafirm stotalassetsshouldthefirmholdineachtypeofcurrentassetsuchascash marketablesecurities andinventory Howmuchcreditshouldthefirmgranttocustomers Howshouldthefirmobtainneededshort termfinancing 22 23 Risk ReturnTradeoff riskaversion investorsshouldexpectahigherreturnfortakingonhigherlevelsofrisk 24 Unitone B IntroductiontoAccountingEnglish 25 Questions 1 Whydowelearnit 1 MNC multinationalcorporation 跨国公司 2 internationaloperations国际业务 3 internationalinvestment国际投资2 WhataretheLearningobjectives GraspthecorewordsaboutaccountingEnglish Graspthebaseknowledgeaboutwesternaccounting HavetheabilityofmakingaccountingdocumentandaccountingreportsinEnglish 3 Howtolearnitsuccessfully Interesting words reading writing 26 Someknowledgeaboutaccounting1 Whatisaccounting Ingeneralsense accountingcanbedefinedasa businessinformationsystem whichcommunicatetheeconomicactivitiesandconditionofabusiness inmonetaryterms tothebusinessstakeholders sothat theycanmakerightdecisions 2 Whoaretheusersofaccountinginformation businessstakeholdersExternalbusinessstakeholders financialaccountinginformation Creditors债权人 e g bankers owners所有者 shareholders股东 Customers客户 suppliers供应商 governments e g legislation法律 tax税 Internalbusinessstakeholders managerialaccountinginformation Directors CEO 首席执行官 managers supervisors 主管 employees 27 3 Accountingasaprofession 会计职业 Apersonwhospecializesintheaccountingfieldisknownasanaccountant Forexample Financialaccountant 财务会计 Costaccountant 成本会计 Managerialaccountant 管理会计 CFO chieffinancialofficer 首席财务官 Internalauditor 内部审计 taxaccountant 税务会计 CPA 注册会计师 Externalauditor 外部审计 4 Accountingknowledgesystem 会计学科体系 Accounting会计学AccountantFinancialAccounting财务会计FinancialaccountantCostAccounting成本会计CostaccountantManagerialAccounting管理会计ManagerialaccountantTaxAccounting税务会计TaxaccountantAuditing审计学Internalauditor ExternalauditorOthers AccountingTheory会计理论InternationalAccounting国际会计 28 5 Professionalaccountingbodies 专业会计团体 1 Examplesofforeignprofessionalaccountingbodies ACCA英国特许公认会计师协会AICPAAmerica美国注册会计师协会CGACanada加拿大注册会计师公会CPAAustralia澳大利亚注册会计师公会CPAChina中国注册会计师协会 2 The BigFour internationalaccountingcompanies 全球规模最大的四个会计师事务所 KPMG 毕马威 Ernst Young E Y 安永 PricewaterhouseCooper PWC 普华 永道 DeloitteToucheTohmatsu D T 德勤 ArthurAndersen AA 安达信 美国 2002年因 安然破产事件 已停止营业 29 2008年综合评价前20家事务所为 普华永道中天 安永华明 德勤华永 毕马威华振 中瑞岳华 立信 信永中和 大信 万隆 利安达信隆 天华 中审 浙江天健 天职国际 中和正信 天健华证中洲 北京京都 安永大华 北京兴华 中磊会计师事务所 会计师事务所的职责1 审计业务Auditing2 验资业务Verification3 税务代理业务Taxagent4 管理咨询业务Consulting5 财税业务培训Taxprofessionaltraining6 资产评估AssetEvaluation 30 6 Accountingpoliciesandaccountingstandard 会计的法规体系和基本会计准则 Ourcountry sfinancialaccountingregulationssystemisconstitutedby AccountingLaw Corporateaccountingstandards corporateaccountingregulations 我国企业财务会计法规体系由会计法 企业会计准则 会计制度构成 Otherimportantaccountingregulationsintheworldinclude IAS国际会计准则FRS英国财务报告准则AASB澳大利亚会计准则FAS美国财务会计准则SEC证券交易委员会的财务会计文件公告GAAP企业会计实务公认会计原则 31 7 FourBasicaccountingassumptions 会计核算的基本假设 1 EconomicEntityAssumption 会计主体 假设 EconomicEntityAssumptionassumesthatthebusinessisaseparateentityfromitsowners 2 GoingConcernAssumption 持续经营 假设 GoingConcernAssumptionassumesthatthebusinesswillbeinoperationforaninfinitetime 3 MonetaryUnitAssumption 货币计量 假设 MonetaryUnitAssumptionAssumesastablecurrencyisgoingtobetheunitofrecord Inourcountry themonetaryunitisChinese 4 PeriodicityAssumption 会计期间 假设 PeriodicityAssumptionassumesthatthebusinessoperationscanberecordedandseparatedintodifferentperiods Ourprovidesthatourcountry saccountingperiodisoneyear whichisfromeveryyear s1st 01to31st 12Itisalsocalledafinancialyear 财政年度 Forsomecountries thefinancialyearstartsfrom1st 07andendto30 06 32 8 Importantbasicaccountingprinciples 会计核算的基本原则 1 Principleofobjectivity 真实性 或 客观性 原则 2 HistoricalCostprinciple 历史成本 原则 3 Revenuerecognitionprinciple 收入确认原则 4 Matchingprinciple 配比制 原则 5 Principleofconservatism 谨慎性 原则 6 Principleoffulldisclosure 重要性 原则 7 Principleofmateriality 实质重于形式原则 8 Principleofconsistency 一致性原则 9 PrincipleofComparability 可比性 原则 33 10 accrualbasispr