世紀(jì)商務(wù)英語(yǔ)綜合教程一unit5

1、（專業(yè)篇）總主編劉杰英總主編劉杰英主編王洗薇孫雪梅主編王洗薇孫雪梅審校審校Chuck ThodeUnit 5FinanceFinance studies and addresses the ways in which individuals, businesses, and organizations raise, allocate, and use monetary resources over time, taking into account the risks entailed in their projects. The term finance may thus incorpora

2、te any of the following: The study of money and other assets; The management and control of those assets; Profiling and managing project risks;Unit 5FinanceC O N T E N T SText BReal Life PracticeTranslation SkillsPractical WritingLead-inText AKnowledge LinksTime for FunUnit 5FinanceLead-in1. Listeni

3、ng1. What is the relationship between the two speakers?A. Friends. B. Mother and son. C. Brother and sister.2. Which sentence can best describe Daves current situation?A. He has a great job and has enough money.B. He has a decent job, but hes looking for a new one.C. He is in debt and is trying to b

4、orrow some money.3. Why does Dave spend so much on food?A. He hires a cook.B. He often eats at restaurants.C. He buys food that can be prepared at home.4. How much does Dave spend on entertainment?A. Around $700. B. About $400. C. About $500.5. What does Nancy suggest Dave do to reduce expenses?A. H

5、e should stop using the credit card.B. He should move back home.C. He should stop spending money on entertainment.Two students are talking about monthly expenses. Listen to the conversation and choose the best answer for each question.Unit 5FinanceLead-in Refinance means _ an older loan with a _ off

6、ering _ terms. For example, Michael owes $100,000 at _ interest on a loan with 15 years left, borrowed _. Current _ for 15-year loans are _. Arthur can refinance and _ his payment from _ per month to _ per month.replacingListen to the passage and fill in the blanks with the missing information.2. Sp

7、ot Dictationnew loanbetter12%10 years agointerest rates6%reduce$1,200$844Unit 5FinanceLead-in3. DiscussionWhat is your usual monthly expense? How about your family? Write a list of your expenses, and figure out how much money you spend on each area, and what percentage of your income pays for each.U

8、nit 5FinanceText A1. What activity is involved in finance?2. How can an entity raise capital?3. What is the main function of a bank?4. What is a companys capital structure?5. What is the significance of finance for a new enterprise?Read the passage about the marketing concept and answer the followin

9、g questions.1. ReadingUnit 5FinanceText AFinanceThe activity of finance is the application of a set of techniques that individuals and organizations (entities) use to manage their financial affairs, particularly the differences between income and expenditure and the risks of their investments.An ent

10、ity whose income exceeds its expenditure can lend or invest the excess income. On the other hand, an entity whose income is less than its expenditure can raise capital by borrowing or selling equity claims, decreasing its expenses, or increasing its income. The lender can find a borrower, a financia

11、l intermediary, such as a bank, or buy bonds in the bond market. The lender receives interest, the borrower pays a higher interest than the lender receives, and the financial intermediary pockets the difference.Unit 5FinanceText AA bank aggregates the activities of many borrowers and lenders. A bank

12、 accepts deposits from lenders, on which it pays the interest. The bank then lends these deposits to borrowers. Banks allow borrowers and lenders of different sizes to coordinate their activities. Banks are thus compensators of money flow in space since they allow different lenders and borrowers to

13、meet, and in time, since every borrower, in theory, will eventually pay back.A specific example of corporate finance is the sale of stock by a company to institutional investors like investment banks, who in turn generally sell it to the public. The stock gives whoever owns it part ownership in that

14、 company. If you buy one share of XYZ Inc., and they have 100 shares available, you are 1/ 100 owner of that company. You own 1/100 of the net difference between assets and liabilities on the balance sheet. Of course, in return for the stock, the company receives cash, which it uses to expand its bu

15、siness in a process called “equity financing”. Equity financing mixed with the sale of bonds or any other debt financing is called the companys capital structure.Unit 5FinanceText AFinance is used by individuals (personal finance), by governments (public finance), by businesses (corporate finance),

16、etc, as well as by a wide variety of organizations including schools and non-profit organizations. In general, the goals of each of the above activities are achieved through the use of appropriate financial instruments, with consideration to their institutional settings.Finance is one of the most im

17、portant aspects of business management. Without proper financial planning, a new enterprise cannot even start, let alone be successful. As money is the single most powerful liquid asset, managing money is essential to ensure a secure future, both for an individual as well as an organization.Unit 5Fi

18、nanceText AUnit 5FinanceText A1. An organization whose expenses exceed its income can invest the excess capital to generate more income.2. The financial intermediary earns income by receiving the difference between the interest got from the lenders and the interest paid to the borrowers.3. Banks mak

19、e it possible for the borrowers and the lenders to coordinate their financial activities.4. Someone who owns the stock of a company owns part of the ownership of the company.5. When a company is in need of cash for expansion of business, it may raise capital by buying stock.()()()()()FTTTFDecide whe

20、ther the following statements are True or False.2. ComprehensionUnit 5FinanceText A1. claimA. an amount of money still owed after some payment has been made2. expenditureB. the money that a company or person has, and the property they can exchange for money3. depositC. a right to do something or to

21、have something, especially because it belongs to you or because you deserve it4. liquid assetD. to put different amounts, pieces of information, etc. together to form a group or a total5. investorE. total amount of money that a government, organization, or person spends during a particular period of

22、 time6. balanceF. someone who gives money to a company, business, or bank in order to get a profit7. balance sheetG. an amount of money that is paid into a bank account8. bondH. to get a large amount of money, win a prize etc, especially in a way that seems very easy or slightly dishonest9. aggregat

23、eI. a statement that shows the value of a companys assets (items of positive value) and its debts10. pocketJ. an official document promising that a government or company will pay back money that it has borrowed, often with interestCEGBFAIJBHPart 1 Match the words or phrases on the left with the defi

24、nitions on the right.3. VocabularyUnit 5FinanceText Aaggregate bond balance deposit expenditurepay back debt claim equity balance sheet1. The first external source of finance is _, which includes loans from banks and bonds purchased by bondholders.2. The _ of a debt is the amount of money that you s

25、till owe after you have paid some of it.3. Her _ on the inheritance is quite reasonable.4. Id like to make a(n) _ into my savings account.5. The governments annual _ on arms has been reduced.debtPart 2 Complete the sentences with the following words or phrases. Change the form where necessary.3. Voc

26、abularybalanceclaimdepositexpenditureUnit 5FinanceText Aaggregate bond balance deposit expenditurepay back debt claim equity balance sheet6. In finance, a(n) _ is a debt security, in which the authorized issuer owes the holders a debt and is obliged to repay the principal and interest.7. The price o

27、f home _ is increasing.8. A(n) _ summarizes an organization or individuals assets, equity and liabilities at a specific point in time.9. We made estimates using the _ data.10. What you have borrowed from the bank must be _ in time.bondPart 2 Complete the sentences with the following words or phrases

28、. Change the form where necessary.3. Vocabularyequitybalance sheetaggregatepaid backUnit 5FinanceText APart 1 Translate the following terms into Chinese.4. Translation1. equity claim_2. financial intermediary _3. bond market _4. money flow _5. institutional investor _6. investment bank _7. part owne

29、rship _8. net difference _權(quán)益要求權(quán)金融中介證券市場(chǎng)貨幣流機(jī)構(gòu)投資者投資銀行部分所有權(quán)凈差額Unit 5FinanceText APart 1 Translate the following terms into Chinese.4. Translation9. balance sheet _10. equity financing _11. debt financing _12. capital structure _13. non-profit organization _14. institutional setting_15. liquid asset _資產(chǎn)

30、負(fù)債表股權(quán)融資債務(wù)融資資本結(jié)構(gòu)非盈利機(jī)構(gòu)機(jī)構(gòu)設(shè)置流動(dòng)資產(chǎn)Unit 5FinanceText A4. TranslationPart 2 Translate the following sentences into Chinese. In the case of a company, corporate finance is the task of providing the funds for the corporations activities. It generally involves balancing risk and profitability. Long-term funds

31、would be provided by equity financing and long-term credit, often in the form of bonds. These decisions lead to the companys capital structure. Short- term funding or working capital is mostly provided by banks extending a line of credit.On the bond market, borrowers package their debts in the form

32、of bonds. The borrower receives the money it borrows by selling the bond, which includes a promise to repay the value of the bond with interest. The purchaser of a bond can resell the bond, so the actual recipient of interest payments can change over time. Bonds allow lenders to recoup the value of

33、their loans by simply selling the bond.對(duì)于公司來(lái)說(shuō)，企業(yè)融資的任務(wù)都是為企業(yè)活動(dòng)提供資金。通常，融資行為要平衡風(fēng)險(xiǎn)和收益。長(zhǎng)期資金可由股權(quán)融資和長(zhǎng)期借貸提供，通常是以債券的形式。這些決定構(gòu)成了公司的資產(chǎn)結(jié)構(gòu)。短期資金或營(yíng)運(yùn)資金大多由銀行信貸提供。在債券市場(chǎng)，借貸者將他們的債務(wù)打包為債券。借貸者將債券賣(mài)出以獲得借款，并承諾按照債券價(jià)值加上利息進(jìn)行償還。購(gòu)買(mǎi)債券者可以將債券轉(zhuǎn)賣(mài)，因此真正獲得利息收益的人是可以改變的。債券購(gòu)買(mǎi)者可以通過(guò)簡(jiǎn)單的賣(mài)出收回他們的借款。Unit 5FinanceText A5.DiscussionFinance is a tough

34、question for everyone. Did you ever meet with this kind of issue? Were you, somehow, short of money once? Look at the following pictures and discuss with your partner, what financial difficulties you might face and how you plan to solve them.Unit 5FinanceText A5.DiscussionFinance is a tough question

35、 for everyone. Did you ever meet with this kind of issue? Were you, somehow, short of money once? Look at the following pictures and discuss with your partner, what financial difficulties you might face and how you plan to solve them.Unit 5FinanceText BCorporate FinanceCorporate finance deals with t

36、he operation of the firms investment decision and the financing decision. It is a general term that applies to methods, procedures and operations of finances of the company. Corporate finance is also called corporation finance. A corporation has a financial division/department that is tasked in mana

37、ging corporate finance. Through this business function, the company may be able to evaluate different business opportunities, and help analyze the different business relations that may impact the companys operations and assets.Objective of Corporate FinanceA core objective of corporate finance is to

38、 make wise decisions with respect to financial resources availability of the company. The company must develop an operating budget that addresses all the companys needs. The goal is to ensure 100% financial resources accessibility for the corporation. The corporation may expand their resources to st

39、ock shares and corporate bonds. Corporate finance may obtain investment from individual investors and firms such as venture capitalists and mutual fund agencies.Unit 5FinanceText BA well- functional corporate finance promotes, enhances and maintains financial resources. Any decision- making of corpo

40、rate finance must be discussed and agreed by chief financial officers, financial staff, board of directors or shareholders.Quantitative and Qualitative Corporate FinanceCategorically, corporate finance may be quantitative or qualitative. Quantitative corporate finance uses mathematics and statistics

41、 to narrow down financial information and see its calculated results. Common quantitative formulas are return on investment, cost- benefit analysis and net present value. Quantitative method is used to gather some financial information in the market. The information gathered will be taken by the cor

42、porate finance department to determine the potential income and failure rate of a business opportunity.Meanwhile, qualitative corporate finance focuses more on decision making. The decision making relies more on the managers experience and expertise in the industry. The managers decision relies on h

43、is personal view and assessment.Unit 5FinanceText BCorporate Finance LawCorporate finance law refers to any legal issues relating to business and finance. In dealing with corporate finance law, the corporation may contract attorneys to guide the company and other businesses. Attorneys relate differe

44、nt legal issues such as lawsuits and understanding contracts. Corporate finance law ensures that all financial matters are legally protected and executed. Along with attorneys, other finance professionals such as financial experts and investment bankers aim in protecting the company by avoiding mist

45、akes and other illegal predicaments.Corporate FinancingCorporate financing is the process of acquiring capital necessary to conduct a business activity. Corporate financing is considered one of the most difficult forms of financing to obtain. In many cases lending money to businesses can be one of t

46、he most lucrative types of loans a lender can make; it is also one of the riskiest. This is related to the fact that only around 1 in 10 businesses succeed. This makes it a fairly high risk loan for business lenders. Typically any business that is looking to get corporate financing will need to have

47、 a fairly strong credit rating which proves to the lenders that they have a history of paying their loans off on time and in full. It is also considered beneficial for a company looking for corporate financing to have a revenue history which shows a consistent profit rate which has been steadily inc

48、reasing over several years.Unit 5FinanceText BUnit 5FinanceText BPart 1 Complete the table of the basic information of corporate finance according to the passage.1. ComprehensionCorporate FinanceObjective of Corporate FinanceUse of quantitative methodCorporate Finance LawCorporate FinancingCorporate

49、 finance deals with the operation of the firms investment decision and the financing decision.Quantitative method is used to gather some financial information in the market.Corporate finance law refers to any legal issues relating to business and finance. In dealing with corporate finance law, the c

50、orporation may contract attorneys to guide the company and other businesses.Corporate financing is the process of acquiring capital necessary to conduct a business activity.Unit 5FinanceText BPart 2 Decide whether the following statements are True or False.1. Comprehension1. Corporate finance deals

51、with the operation of the firms investment decision and the personnel decision.2. Some decision-making of corporate finance is discussed and agreed by the shareholders, and some by the board of directors.3. Corporate finance is quantitative and the qualitative analysis is not necessary.4. In dealing

52、 with corporate finance law, the corporation may contract attorneys to guide the company.5. Lending money to businesses is lucrative and low-risk.()()()()()TTFTFUnit 5FinanceText B attorney execute agency rely on with respect toventure lawsuit lucrative credit rating narrow down1. The hi-tech indust

53、ry attracts much _ capital.2. She has a(n) _ business selling leather goods.3. The company experienced rapid commercial growth with its decision to _ its range of products.4. _ is a judgment made by a bank or other companies about how likely a person or business is to pay their debts.venturePart 1 C

54、omplete the sentences with the following expressions. Change the form where necessary.2. Vocabularylucrativenarrow downCredit ratingUnit 5FinanceText B attorney execute agency rely on with respect toventure lawsuit lucrative credit rating narrow down5. We cannot _ your order for lack of particulars.

55、6. I got this job through an employment _.7. The board of directors _ the finance department for information on profits.8. _ your inquiry, I enclose an explanatory leaflet.9. A(n)_ has been filed against the company for business fraud.10. We need a(n) _ to prosecute a lawsuit for one of our clients.

56、executePart 1 Complete the sentences with the following expressions. Change the form where necessary.2. Vocabularyagencyrely onWith respect tolawsuitattorneyUnit 5FinanceText BPart 2 Complete the sentences with the right form of the words in the brackets.2. Vocabulary 1. A large amount of _ (capital

57、ist) is invested in all these branches.2. Today, we have a gigantic _ (categorically) index.3. In terms of _ (quantitive), production grew faster than ever before.4. A job analysis should also include what skills and personal _ (qualititive) are required.5. Damage from data theft is often difficult

58、to _ (assessment).capitalcategoricalquantityqualitiesassessUnit 5FinanceText BPart 2 Complete the sentences with the right form of the words in the brackets.2. Vocabulary 6. A successful job search needs to be as well organised as any other _ (execute) task.7. Drug manufacturing is the most _ (profi

59、t) business in America.8. The construction of European identity is a slow and difficult process, and face many _ (predicament).9. Since then, reserve growth shows a _ (steadily) decline.10. The film was _ (rating) excellent by 90 per cent of children.executiveprofitablepredicamentssteadyratedUnit 5F

60、inanceText BPart 1 Translate these sentences into Chinese.3. Translation1. A core objective of cooperate finance is to make wise decision with respect to financial resources availability of the company.2. The prosperity of town enterprises is the inevitable outcome of economic reform in the rural ar