本书是英语专业工商管理双语教学教材系列之一。本书简要地概述了各职能领域最重要的基本概念、基本原理和主要理论，在每本书后加入了这门学科的相关重要术语，并对术语的词头进行了中文释义。对于商务英语类专业的双语教学来说，该系列丛书内容详略得当，语言准确流畅，是一套值得信赖的英语专业工商管理双语教学的系列教材。希望此系列教材能够丰富商务英语类专业的课程设置，满足广大师生的需求，同时也希望我国商务英语教育蓬勃发展！

Part1 Accounting and Financial Analysis

1 How Firms Use Accounting s

Reporting 8

Small Business Survey: Respomibility for Financial Reporting 9

Decision Support 10

Control 11

Decision Making: Using Financial Reports to Detect Deficiencies 11

2 Responsible Financial Reporting 11

The Role of Auditors in Ensuring Proper Reporting 12

The Role of the Board of Directors in Ensuring Proper Reporting 13

The Role of the Sarbanes-Oxley Act 13

Decision Making: Ensuring Accurate Financial Reporting 575

3 Interpreting Financial Statements 15

Income Statement 16

Balance Sheet 16

Decision Making: Interpreting Financial In3Cbrmation to Make Business Decisions 19

4 Ratio Analysis 2o

Measures of Liquidity 20

Measures of Efficiency 21

Measures of Financial Leverage 22

Measures of Profitability 23

Comparison of Ratios with Those of Other Firms 24

Global Business: Effect of Exchange Rate Movements on Earnings 26

Limitations of Ratio Analysis 27

Sources of Information for Ratio Analysis 28

Decision Making: Using Ratio Analysis for Business Decisions 28

College Health Club: Financial Condition of CHC 28

Summary 29

Key Terms 30

Review & Critical Thinking Questions 30

Discussion Questions 31

It's Your Decision: Financial Management at CHC 31

Investing in a Business 32

Case: Using an Accounting System 32

Video Case: Reporting Information at Archway 32

Internet Applications 33

Dell's Secret to Success 33

In-Text Study Guide 34

Part2 Financing

5 Methods of Debt Financing 39

Borrowing from Financial lnstitutions 40

Issuing Bonds 44

Issuing Commercial Paper 45

Impact of the Debt Financing Level on Interest Expenses 46

Common Creditors That Provide Debt Financing 46

Decision Making: Whether to Borrow Funds 47

6 Methods of Equity Financing

Retaining Earnings 47

Issuing Stock 48

Small Business Survey: Financing 52

Comparison of Equity Financing with Debt Financing 52

Decision Making: Deciding Whether to Obtain Equity Funding 53

7 How Firms Issue Securities

Origination 53

Underwriting 53

Distribution 54

Decision Making: Deciding Whether to Issue Stock 54

8 Other Methods of Obtaining Funds 55

Financing from Suppliers 55

Leasing 56

Small Business Survey: Leasing 56

Decision Making: Deciding Whether to Lease as a Financing Method 57

9 Deciding the Capital Structure 57

Cross Functional Teamwork: Relationship between Pridng and Financing Strategies 58

Revising the Capital Structure 58

How the CapitalStructureAffects the Return on Equity 59

Small Business Survey: Financing Choices of Small Firms 60

Global Business: Gtobal Finandng 61

Cross Functional Teamwork: Interaction between Financing Decisions and Other Business Decisions 61

Decision Making: Deciding on the Capital Structure 62

Remedies for Debt Problems 62

Extension 62

Composition 63

Private Liquidation 63

Formal Remedies 63

College Health Club: Financing at CHC 64

Summary 65

Key Terms 66

Review & Critical Thinking Questions 67

Discussion Questions 67

It's Your Decision: Financing Decisions at CHC 68

Investing in a BuSiness 68

Case: The IPO Decision 69

Video Case: Venture Capita[ Financing 69

Internet Applications 70

Dell's Secret to Success 70

In-Text Study Guide 71

Appendix: How Interest Rates Are Determined 74

How Interest Rates Change 74

Demand fbr Loanable Funds 74

Supply of Loanable Funds 74

Combining Demand and Supply 74

Effect of a Change in the Demand Schedule 75

Effect of a Change in the Supply Schedule 76

Factors That Can Affect Interest Rates 77

Monetary Policy 77

Economic Growth 77

Expected Inflation 78

Savings Behavior 78

Summary of Factors That Affect Interest Rates 79

Part3 Expanding th Business

10 Investment Decisions 82

How Interest Rates Affect Investment Decisions 82

Capital Budget 83

Classification of Capital Expenditures 83

Small Business Survey: Allocation of Business Investment 84

Decision Making: Business Investment Decisions 85

11 Capital Budgeting Tasks 85

Cross Functional Teamwork: Cross Functionat Relationships Involved in Business Investment Derisions 86

Proposing New Projects 86

Estimating Cash Flows of Projects 86

Determining Whether Projects Are Feasible 86

Implementing Feasible Projects 87

Small Business Survey: Time Allowed for Investments to Pay Off 87

G|oba| Business: Global Investing 88

Monitoring Projects That Were Implemented 88

Summary of Capital Budgeting Tasks 88

Decision Making: Capital Budgeting Tasks 89

12 Mergers and Other Forms of Restructuring ;0

Types of Mergers 90

Corporate Motives fbr Mergers 90

Merger Analysis 92

Merger Procedures 94

Defense against Takeover Attempts 95

Leveraged Buyouts 96

Divestitures 96

Decision Making: Deciding Whether to Acquire a Business 97

13 Short-Term Investment Decisions 97

Liquidity Management 97

Accounts Receivable Management 98

Small Business Survey: Investment Decisions by Small Businesses 99

Small Business Survey: Extending Credit 99

Inventory Management 100

Decision Making: Deciding How Much Liquidity Is Needed 101

College Health Club: Accounts Receivable Management at CHC 101

Summary 102

Key Terms 103

Review & Critical Thinking Questions 104

Discussion Questions 104

It's Your Decision: Investment Decisions at CHC 104

Investing in a Business lO5

Case:Deciding Whether to Acquire a Business 105

Video Case: Investing and Financing at Timbuk2 106

Internet Applications 106

Dell's Secret to Success 106

In-Text Study Guide 107

Appendix A: Capital Budgeting Analysis 111

Background on Present Value 111

Estimating the Net Present Value 113

Appendix B: Consolidating All Major Strategies in the Business Plan 116

Answers to In-Text Study Guide 121

Glossary 122