Professional English in Use, geschreven door Ian MacKenzie. Een woordenlijst van de volgende units: 2, 3, 4, 7, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 22, 23, 24, 41, 42, 43. Dit is een woordenlijst voor het vak 'Financial English' voor de opleiding Finance & Control op Windesheim Zwolle voor het 2...
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Unit 2 - Business finance
Set up a company When people start a company
Capital Money you need for starting a company
Loan Money borrowed from banks
Interest The amount paid to borrow the money
Shares or equities Certificates representing units of ownership of a company
Shareholders The peoples who invest money in shares and they own a part of the
company
Share capital The money that shareholders provide
Bonds Loans that pay interest and are repaid at a fixed future date
Debt Money that is owed to other people or businesses
Liabilities Companies’ debts; the money it owes
Working capital or funds The money that a business uses for everyday expenses or has
available for spending
Revenue All the money coming into a company during a given period
Profit, earnings or net Revenue minus the cost of sales and operating expenses, such as rent
income and salaries
Dividend The part of its profit that a company pays to its shareholders
Tax Companies pay a proportion of their profits to the government to
finance government spending
Retained earnings Companies retain or keep some of their earnings for future use
Financial statements Companies give information about their financial situation
Balance sheet Shows the company’s assets, its liabilities and its capital
Assets The things the company owns
Profit and loss account Shows the company’s revenues and expenses during a particular
period
Unit 3 - Accounting and accountancy
Accounting Involves recording and summarizing an organization’s transactions or
business deals and reporting them in the form of financial statements
Bookkeeping The day-to-day recording of transactions
Financial accounting Includes bookkeeping, and preparing financial statements for
shareholders and creditors
Creditors People or organizations who have lent money to a company
Management accounting Involves the use of accounting data by managers, for making plans
and decisions
Auditing Examining a company’s systems of control and the accuracy or
exactness of its records, looking for errors or possible fraud
Fraud Where the company may have deliberately given false information
Internal audit Is carried out by a company’s own accountants or internal auditors
External audit Is done by independent auditors
Independent auditors Auditors who are not employees of the company
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, Creative accounting Recording transactions and values in a way that produces a false
result (usually an artificially high profit)
True and fair view The financial statements must give a correct and reasonable picture
of the company’s current condition
Laws Rules established by the government
Standards Rules in Britain which have been established by independent
organizations and by the accountancy profession itself
Unit 4 - Bookkeeping
Bookkeepers Record the company’s daily transactions: sales, purchases, debts etc.
Double-entry A system that records two aspects of every transaction. Every
bookkeeping transaction is both a debit in one account and a corresponding credit
in another
Debit A deduction
Credit An addition
Raw materials The substances and components used to make products
Stock Goods ready for sale
Debtors Customers who owe money for goods of services purchased
Day books or journals Accounts with a large number of transactions, like purchases and
sales, companies often record the transactions in here
Nominal ledgers Main books of account called in Britain
Creditors Suppliers to whom the company owes money for purchases made on
credit
Trial balance A balance which transfers the debit and credit balances of different
accounts onto one page
Unit 7 - Accounting policies and standards
Accounting policies The way of the company doing their accounts
Valuation Deciding how much something is worth
Measurement Determining how big something is
Technical rules or Accepted ways of doing things that are not written down in a law
conventions
Consistency principle Using the same methods every year, unless there is a good reason to
change a policy
Disclosed or revealed the annual report will contain a statement of accounting policies that
mentions any changes that have been made. this enables
shareholders to compare profits and values with those of previous
years
Depreciation Reducing the value of assets in the company’s accounts
Provisions Amounts of money deducted from profits
Historical cost principle Companies record the original purchase price of assets, and not their
(estimated) current selling price of replacement cost
Going concern A successful company that will continue to do business
Inflation accounting A system for countries with regular high inflation that take account of
systems changing prices
Replacement cost Values all assets at their current replacement cost
accounting
Current replacement cost The amount that would have to be paid to replace them now
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