Профессиональный английский язык для экономистов. Учебное пособие
.pdf13.Audit is an inspection and evaluation of financial records by a second set of accountants
14.Automatic teller machine (ATM) is a computer terminal that operates like a bank teller, allowing people to make deposits and withdrawals 24 hours a day
15.Bad debt is the amount of money that is never likely to be paid
16.Balance is the amount of money in an account at a particular time
17.Balance sheet is a financial statement which shows a company s financial condition (amount of debits and credits) on the last day of an accounting period
18.Bankruptcy is the state of being insolvent: unable to pay debts
19.Bank statement is a record of all transactions in a bank account during a particular period
20.Barter is the exchange of one good for another without the use of money
21.Benchmarking is a process of measuring the performance of a company’s products and services against those of another business considered to be the best in the industry
22.Blue chip company is a corporation with a national reputation for quality, reliability, and the ability to operate profitably in good times and bad
23.Bond is fixed-interest debt issued in the form of a tradable security
24.Bookkeeping is recording financial data by writing down the details of transactions
25.Brand is a type of product manufactured by a particular company under a particular name
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26.Budget is a financial operating plan showing expected income and expenditure
27.Business case is the evaluation of an investment opportunity
28.Capital is the money invested in a business and used to buy the assets
29.Capital budget is a budget concerning long-term, or fixed assets
30.Capitalization is the source and methods of raising money to invest in and start a business
31.Case study is a research method involving an up-close, in-depth, and detailed examination of a subject of study
32.Cash flow is a company s ability to earn cash
33.Centralization is a structure that keeps decision making at the top of the hierarchy
34.Chain of command is the order of authority and delegation within a business
35.Closing entries is the term used to describe the set of year-end accounting entries that are made in order that all accounts relating to a period of time begin the new accounting year with a zero balance
36.Commitment is a promise to do something or responsibility to behave in a particular way
37.Coaching is the act of giving special classes in a work-related activity, especially to one person or a small group
38.Common stock is securities that represent part ownership in a firm
39.Conglomerate is a business with several significant business activities in diverse markets
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40.Conservatism means that revenues and gains should be recognized when the earnings process is complete, but that expenses and losses should be recognized immediately
41.Consistency concept determines that accounting methods and policies should be applied consistently between different businesses and over different accounting periods
42.Contribution margin is the difference between sales and variable costs or expenses
43.Costs are the expenses involved in doing or making something
44.Cost accounting involves the determination of the unit cost of a particular product made by a company, including materials, labor, overheads, etc.
45.Cost management is an awareness of the various types of costs and the effect that the relevant ones have on individual business decisions
46.Cost management Index (CMI) is the formula used to identify what level of expenses and profits is expected given incremental changes in revenues
47.Cost plus pricing is a strategy where all costs are covered before profits are calculated
48.Credit is an arrangement to receive goods or services but pay later; an amount entered on the right-hand side of an account, recording a payment received
49.Currency is the money used in a particular country
50.Current account (GB) or checking account (US) is a bank account which pays no or little interest, but allows the holder to withdraw cash with no restrictions
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51.Current ratio or working capital ratio measures liquidity, and is current assets divided by current liabilities
52.Debenture is a fixed interest loan issued by a company and secured by its assets
53.Debit is an amount entered on the left-hand side of an account
54.Debt is money owed to someone
55.Debtors (GB) or accounts receivable (US) are sums of money owed by customers for goods or services purchased on credit
56.Decentralization is a structure in which decision making is spread out to include more managers in the hierarchy
57.Decision-making is the process of choosing a logical choice from the available options
58.Demand is the amount of a product or service that customers are willing and able to pay for at a given time
59.Depreciation is the reduction in value of a fixed asset due to use
60.Derivative is a financial product that has a value based on the value of another product, such as shares or bonds
61.Direct costs are costs such as raw materials specifically used in the creation of a product or service
62.Discount is a reduction off the regular price
63.Disposable income is the amount of money that a person has left after paying taxes, compulsory insurance contributions, etc.
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64.Dividend is a share in the annual profits of a limited company, paid to shareholders
65.Diversification is a strategy of investing in a variety of securities to lower the risk of losing all investments
66.Double entry system records the dual effect of every transaction: a value both received and paid
67.Earnings are the profit available to shareholders after all costs including interest and taxation
68.Equity is shareholders’ funds, it is the sum of issued share capital and reserves
69.Exchange rate is a measure of the value of national currencies to one another, which can influence travel and tourism prices charged to foreign visitors
70.Expenses are the costs incurred to generate revenues
71.External recruitment is when the business looks to fill the vacancy from any suitable applicant outside the business
72.Factoring is the process of letting another party assume responsibility for collecting receivables
73.Financial gearing is a measure of the extent to which a business is financed by long-term fixed-interest debt finance as against shareholder’s funds
74.Financial management cycle is the process of producing, preparing, analyzing, and applying numbers to business operations
75.Financial position is the financial condition of a business as indicated by its balance sheet
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76.Fiscal period is an annual accounting period that may not coincide with the calendar year
77.Fixed costs are costs that are unaffected by small changes in the level of business activity
78.Fluctuation is continual change from one point or condition to another
79.Forecasts are the financial documents that update the operating budget
80.Freelancer - a person who pursues a profession without a long-term commitment to any one employer
81.Globalization is the move towards a world market
82.Goodwill is the value of an established business based on its name or reputation above the value of its tangible assets
83.Gross profit is net profit before depreciation and interest are deducted
84.Hassle is an informal word for a problem or an obstacle
85.Incident method is a set of procedures used for collecting direct observations of human behavior that have critical significance and meet methodically defined criteria
86.Income is all the money received by a person or company during a given period
87.Income statement is the American name for the financial statement which shows the profit and loss made by a company during the accounting period
88.Incorporated is a word added to the name of a US company, signifying that it is a corporation with limited liability
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89.Indirect costs are costs or overheads incurred in running a business that are not directly attributable to a product or service
90.Induction training is a form of introduction for new employees in order to enable them to do their work in a new profession or job role within an organization
91.Initial public offering (IPO) is the widening of the shareholder base by the existing owners through selling shares and listing the company on a stock exchange
92.Insolvent means unable to pay debts
93.Installments are regular part payments of debts
94.Insurance is the provision of financial protection for property, life, health against specified risks
95.Intangible assets are assets that have no physical form, such as brands and patents
96.Integration is the situation when more than one company choose to join and work together
97.Interest earned ratio is profit before interest and income tax divided by interest expense
98.Internal recruitment is when the business looks to fill the vacancy from within its existing workforce
99.Intermediary is an individual that goes between a product or a service and the customer
100.Internship training is a period of work experience offered by an organization for a limited period of time
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101.Inventory is the American term of stock, it is an amount of goods stored ready for sale
102.Inventory turnover is a ratio that measures the rate at which inventories are used up and replaced during an accounting period.
103.Invoice is a list of goods or services received that serves as a bill
104.Job rotation is a job technique in which employees are moved between two or more positions in a planned manner
105.Journal is accounting record summarizing business transactions as they occur prior to posting the information to the individual accounts
106.Just-in-time (JIT) is a highly coordinated processing system in which goods move through the system, and services are performed, just as they are needed
107.Lead time is the time between the initiation and completion of a production process
108.Lean operation is a flexible system that uses minimal resources and produces high-quality goods or services
109.Ledger is a book of accounts
110.Liabilities are obligations of the business
111.Limited liability is a responsibility for debts up to the value of the company s share capital
112.Liquidity refers to the capacity to be converted into cash
113. Managerial accounting is the elaboration of financial reports necessary to efficient management (on the cost of products, future plans, etc.)
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114.Manufacturing is converting inputs into finished goods
115.Margin is the difference which exists between net sales and the cost of merchandise sold
116.Marginal cost is the additional cost incurred by producing one more unit of a product
117.Market penetration is the attempt to increase sales by selling at a low price
118.Market share is the sales of a company expressed as a percentage of total sales in a given market
119.Market skimming is charging a high price for a new product, and making a profit from only a few customers
120.Marketing is the process of understanding customers and finding ways to provide products or services which customers demand
121.Markup is the amount added to the cost price of goods to cover overheads and profit
122.Mass production is making large numbers of basically identical things
123.Materiality is the constraint of determining if an item is important enough to likely influence the decision of an investor or a creditor
124.Merchandise is the commodities or goods that are bought and sold in busi-
ness
125.Merger involves two firms combining to form one larger company; it can occur due to a takeover or mutual agreement
126.Monitoring is the process of comparing actual performance with a predetermined target
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127.Mutual fund is an investment program funded by shareholders that trades in diversified holdings and is professionally managed
128.Net profit is the excess of all revenues and gains in a period over all expenses and losses
129.Off-the-job training is training that takes place away from the workplace
130.On-the-job training is training that takes place at the workplace
131.Ordinary shares (GB), common stock (US) are the money raised by the business when it issued its shares
132.Opening stock is the value of stock at the beginning of a trading period
133.Operation is the actual work of a company: production or commercial and financial transactions
134.Option is a legal contract that gives its holder the right to buy or sell a specified amount of an underlying asset at a fixed price
135.Outsourcing is buying goods or services instead of producing or providing them in-house
136.Overdraft is a short-term highly flexible bank borrowing, typically within a pre-arranged facility
137.Overheads are the various expenses of operating a business that can’t be charged to any one product, process or department
138.Percentage is a share or proportion in relation to the whole
139.Planning is the process of determining a commercial enterprise's objectives, strategies and projected actions in order to promote its survival and development within a given time frame
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