财务管理总结 英文.docx

财务管理总结英文

第一篇：财务管理总结英文1.Maximizingafirm’searningsaftertaxes.ProblemsCouldincreasecurrentprofitswhileharmingfirm(e.g.,defermaintenance,issuecommonstocktobuyT-bills,etc.).Ignoreschangesintherisklevelofthefirm.2.Maximizingearningsaftertaxespidedbysharesoutstanding.Doesnotspecifytimingordurationofexpectedreturns.Ignoreschangesintherisklevelofthefirm.Callsforazeropayoutpidendpolicy.3.MarketvalueofallofassetsPrincipalsmustprovideincentivessothatmanagementactsintheprincipals’bestinterestsIncentivesinclude,stockoptions（股票期权）,perquisites（额外所得）,andbonuses（奖金红利）。4.Wealthmaximizationdoesnotprecludethefirmfrombeingsociallyresponsible.ProtectingtheconsumerPayingfairwagestoemployeesMaintainingsafeworkingconditionsSupportingeducationProtectingenvironmentalissuesCorporateGovernanceCorporategovernance:representsthesystembywhichcorporationsaremanagedandcontrolled.Includesshareholders,boardofdirectors,andseniormanagement.公司组织形式：：Advantages：Simplicity，Lowsetupcost，Quicksetup，Singletaxfilingoninpidualform。Disadvantages：Unlimitedliability，Hardtoraiseadditionalcapital，Transferofownershipdifficulties，Canbesimple，Lowsetupcost,higherthansoleproprietorship，Relativelyquicksetup，Limitedliabilityforlimitedpartners。Disadvantages：Unlimitedliabilityforthegeneralpartner，Difficulttoraiseadditionalcapital,buteasierthansoleproprietorship，TransferofownershipdifficultiesCorporationsAdvantages：Limitedliability，Easytransferofownership，Unlimitedlife，EasiertoraiselargequantitiesofcapitalDisadvantages：Doubletaxation，Moredifficulttoestablish，Moreexpensivetosetupandmaintain。GeneralPartnership--allpartnershaveunlimitedliabilityandareliableforallobligationsofthepartnership.imitedPartnership--limitedpartnershaveliabilitylimitedtotheircapitalcontribution(investorsonly).Atleastonegeneralpartnerisrequiredandallgeneralpartnershaveunlimitedliability.Interestpaid(earned)ononlytheoriginalamount,orprincipal（本金）,borrowed(lent).Interestpaid(earned)onanypreviousinterestearned,aswellasontheprincipalborrowed(lent).AnAnnuityrepr