备考注册会计师综合阶段英语ACCA词典可编辑.docx

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备考注册会计师综合阶段英语ACCA词典可编辑

备考注册会计师综合阶段英语ACCA词典

Finance?

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A

Account

Acollectionofinvestments,eithertaxableortax-deferred.Accountcanberealcontainsinvestments

actuallyownedormodelhypothetical.Accounttypecanbebrokerage,mutualfund,orotheramutual

fundcanbeanaccountifthefundispurchaseddirectlyfromfundcompanyoritcanbeaninvestment

withinanaccount,ifpurchasedthroughabroker.Legally,accountsaresetupastaxableortaxdeferredThelegalownerofanaccountcanbeanindividual,joint,corporate,custodian,estate,ortrust.SeeReal

TaxableAccounts,JointAccounts,andRealTax-DeferredAccounts

AccountDescription

InformationthatincludesAccountType,Tax-deferred,TaxMethod,andAccountNote.Theseitemsare

primarilyusedtoclassifyaccountsfortaxpurposes

AccountNote

Descriptivetextaboutanaccountthatyoucanenterforyourinformation,suchas"forCollege."AccountType

Whenplacinganorderthroughthissite,youmustbesuretoselecttheproperAccountTypeforthe

positionyouwishtotrade.Ifaparticularpositionresidesinyourcashaccount,forexample,thissitewill

automaticallyrejectasellorderthatspecifiesyourmarginaccount,andviceversa

AccrualMethod

Accountingmethodwhereincomeandexpensesarerecordedwhenitemsarebookedorbilled.Contrast

withamorecommonmethod,cashmethod,whereincomeandexpensesareloggedfromthetimecash

isactuallyspentorreceived

AccruedInterest

Interestearnedbutnotyetpaid.Formosttaxpayers,taxisdueinyearaccruedinterestispaid.When

buyingabond,buyerpaysselleranyinterestaccruedsincethelastpaymentdate.Whenthebuyer

eventuallysellsthebond,thenewbuyerpaysanyaccruedinterest.Theaccruedinterestissubjectto

taxesfortheseller,butreducesthetaxliabilityforthebuyer.Forexample,ifabondbuyerpaid$30

accruedinteresttoaseller,thenreceived$150interestfortherestoftheyear,thebuyerneedstopay

taxeson$150-$30$120

ADR/ADS

StandsforAmericanDepositoryReceiptsorShares.Thesefinancialinstrumentsallowstockinaforeign

corporationtobetradedonaU.S.stockexchangeinU.S.currencybyrepresentingtheactualshares

fromthenativeexchange

Advances/Declines

AdvancesarethenumberofissuesontheNewYorkStockExchangethathaveriseninpricesincethe

previoustradingday'sclosingprice.Declinesrepresentthosethathavefalleninprice.Sometimesthe

advancesanddeclinesareexpressedasaratioandplottedasalinegraph.ArisingA/Dlineindicates

thatthemarkethasgoodbreadthamajorityofissuesarerisinginpriceandthatarisingtrendismore

likelytobesustainable

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AfterTaxRealRateofReturn

Thepercentagegainonaninvestment,account,orportfolioaftertaxesandinflationhavebeendeductedNotethattheaftertaxrealrateofreturnformoneymarketmutualfundsisfrequentlylessthanzero,so

youshouldusetheseaccountsonlyastemporarycashaccounts

AllorNoneOrder

Inbrokerage,orderinstruction,particularlyforlargeorders,toexecutethetotalquantityornone

American-StyleOption

American-styleisanoptioncontractthatcanbeexercisedatanytimebetweenthedateofpurchaseand

theexpirationdate.Mostexchange-tradedoptionsareAmerican-style.Allstockoptionsare

American-style

AnnualReport

Writtenreporttoshareholderssummarizingthepastfiscalyear'sfinancialresultsandnewsitemsof

importanceaboutproducts,lawsuits,boardmembers,etc.Prospectiveshareholdersshouldalsoreview

theannualreportbecauseitprovidesimportantbalancesheetinformation

AnnualizedReturn

Projectstheyeartodatereturnoverafull12monthcalendaryear.Mostusefulforprojectingreturnfor

moneymarketfunds,CDs,andbonds.AnnualizedreturnforequitiescanbemisleadingifYTDreturnis

highandcoversashortperiodoftime.SeeTotalReturn

Annuity

Aninsuranceproductthatpaysanincomebenefitonaspecificdate,foraspecifictime,orforthelifetime

ofthepersonsreceivingtheannuitytheannuitant.Afixedannuityguaranteesfixedpaymentswitha

constantrateofreturn.Avariableannuity'svaluefluctuateswiththatoftheassetsthatarebackingitThereisnoguaranteedrateofreturnforavariableannuity;theannuitantbearstheinvestmentriskand

receivesthereturnactuallyearnedoninvestedassetslesschargesassessedbytheinsurancecompany

ArbitrageAfinancialtransactionwhereanarbitrageurarbsimultaneouslypurchasesinonemarketandsellsin

anotherwherethereisaslightpricedifferential.Oftenitisafullhedge,andtherefore,arisk-free

transaction.Arbsplayanimportantroleinkeepingmarketsliquidandefficient

AssignedonanOptionTransaction

Whenyousellanoptionyounowhavetheobligationtosellorpurchasestock.Youhaveormaynothave

tofulfillthatobligation.Youareconsideredtobe"assigned"ifyouarebeingrequiredtofulfillthat

obligation.Typicallythisoccurswhentheoptionisin-the-money

Ask

Thelowestpriceatwhichaselleriswillingtoofferasecurityatthistime

AssetSomethingofvaluethatyouown.Appreciatingassets,suchasstocks,havethepotentialofincreasinginFinance?

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valueand/orproducingincome.Depreciatingassets,suchasacar,losevalueovertime.Assetsminus

liabilitieswhatyouoweequalsnetworth

AssetAllocation

Theprocessofdecidingwhatkindsofassetsyouwanttoown,andthepercentageofeach.Tactical

assetallocationisasophisticatedformofmarkettiminginwhichaninvestordecideshowmuchto

allocatetoeachassetclassbasedonmarketindicators,particularlyinterestrates.Asconditionschange,

thepercentallottedtoeachassetclasschanges

AssetClasses

Appreciatingassetsareputinto7assetclasses:

imumcapitalgainequity,long-termequity,

internationalequity,U.S.governmentbond,corporatebond,preciousmetals,andcash

At-The-MoneyOption

Whenthepriceoftheunderlyingsecurityisequaltothestrikeprice,anoptionisat-the-money

AverageAnnualReturnThecumulativereturndividedbythenumberofyearsofthelifeoftheinvestmentoraccount,withthe

compoundingeffectfactoredin.Inreverse,theaverageannualreturntimesagivennumberofyears

equalsthecumulativereturnforthattimeframe.AARisusedtocomparereturnsoftwoormore

investmentsofunequaltrackrecords

AverageDailyVolumeTheconsolidatedtradingvolumeforallexchangesaveragedforthelast20tradingdays

AverageCostTheaveragepricepluscommission

AveragePriceThetotalcostlesstotalcommissionofalllotsyouownofaparticularsecuritydividedbythetotalnumber

ofsharesowned

AverageProceedThesumofnetamountsreceivedfromallshortopenlotsdividedbythetotalnumberofsharesshortfor

thatsecurity.Averageproceedsisforshortinvestmentswhataveragecostisforlonginvestments

B

BabyBondOnesoldatfaceamountlessthan$1,000tomakeitattractivetosmallerinvestors.SeeBond

BalanceSheetAlistingofallassetsandliabilitiesforanindividualorabusiness.Thesurplusofassetsoverliabilitiesis

thenetworth,orwhatisownedfreeofdebt

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BalanceSheetReturnAviewinthestockdatabasethatdisplaysSales/PriceRatio,Price/BookRatio,Book/Share,Returnon

Equity,ProfitMargin,andReportingDate.Theseitemsareallmeasuresofcompanyvalueand

profitability

BalanceSheet-Cash&DebtAviewinthestockdatabasethatdisplays:

FiscalYearEnd,QuickRatio,Debt/EquityRatio,CurrentRatio,

andCash/Share.Theseitemsmeasurethefinancialhealthofacompany,particularlyitsassetsand

liabilities.ClickeachitemintheGlossarylistfordefinitionsofeachoftheseitems

BalancedEquitiesAmutualfundwhoseholdingsaresplitfairlyevenlybetweenstocksandbonds.Balancedfundscan

changetheirassetallocationaccordingtomarketconditions.Balancedfundsseekarelativelysteady

return

BankInformationDescriptiveinformationaboutagivenbank.AviewintheCDsandMoneyMarketsdatabasethat

displays:

MinimumDeposit,City,State,Phone,Out-of-stateIndicator

BasisAnaccountingtermthatreferstothecostofanassetincludingalladjustmentsandimprovements.For

taxpurposes,itistheamountyousubtractfromthenetsalepricetodeterminetherealizedgainorlossForexample,ifyoupaid$150,000foryourhome,butaddedaporchfor$25,000,yourbasisisnow

$175,000.Youhavestepped-upthebasis

BasisPointThesmallestmeasureusedinquotingyieldsandinterestrates.Onebasispointequals.01%,soa100

basispointmoveinaU.S.Treasurybondyieldis1%

BearerCertificateAsecuritywhoseownerisnotregisteredonthebooksoftheissuerandwhichis,therefore,payableto

thepersonpossessingthecertificate.Abearerbondhascouponsattached,whichthebondholdersends

inorpresentsontheinterestdateforpayment.Bearerstockcertificatesarenegotiablewithout

endorsement

BetaAmeasureofriskcommonlyusedtocomparethevolatilityofmutualfundsorstockstotheoverall

marketTheS&P500Indexisthebaseforcalculatingbetaandcarriesavalueof1.Securitieswith

betasbelow1arelessriskythanthemarketasawhole.Betasabove1aremorerisky.Abetaof1.3is

30%morevolatilethantheS&P500.BetaswithnegativevaluesareinverselyrelatedtotheS&P500Note:

Thebetaofpreciousmetalscanbelowbutthesefundshavehighpricevolatility.Youcannot

comparethebetaofbondfundsagainstthebetaofequityfunds,b