Definition of Words or phrases:

UNIT 1 Factoring Reading 1

Free market (Th trng t do) Debt collection (Dvu thu hi n) Consumer Credit (Tn dng tiu dng) Market where there is no restriction placed on it (either by a government or by a company. - Collecting money which is owed. - Is a service of collecting debt from debtor. - Credit given by shops, banks and other financial institutions to consumers so that they can buy on hire purchase (H/P) which means spreading payments of price and interest over a period of several months. - The credit given by shops, banks or other financial institutions on a small scale (with small amount of money, the period of time is short) Credit given by one company to another company on large scale (with a large amount of money, the period of time is long). Period where a credit is allowed. A note asking to pay for goods or services supplied. A piece of paper which is given to the buyer after buying something. A document sent by suppliers to customers describing the goods or services provided and saying how much money is owed. - A letter to remind a customer that he has not paid an invoice yet. A debt which will not be paid (usually because the debtor has gone out of business. Trying to do better then another supplier.

Trade credit (Tn dng TM) Credit period (K hn tn dng) Invoice (Ha n) Reminder (Th nhc nh) Bad debt (N xu) Competition (S cnh tranh)

Reading 2
Sell on credit (Bn chu) Unpaid invoice (Ha n cha thanh ton) Raise money (Huy ng vn) Recover debts (Thu hi n) Factoring (Bao thanh ton) Factor (Nh BTT) Provision/reserves (D phng n phi thu kh i) Credit squeeze (Hn mc tn dng) Method of buying goods or services with out making immediate cash payment A invoice which has not been paid. An activity of collecting money in order to having enough money to finance further production. An activity of getting the value of the unpaid invoices from customers - Business of buying debts at a discount - The activity of buying up commercial debts at a discount. - A business or a company that buy debts at a discount. - A business which makes money by buying up order companys debts Money put aside in account to cover potential bad debts. Period when lending by the banks is restricted by the government.

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Discount (Chit khu) Credit worthiness (Mc tin cy tn dng) Credit status (Tnh trng tn dng) Credit bureau (Cc tn dng) Data banks (NH d liu)

- Percentage by which a full price is reduced to a buyer by the seller. - A reduction in price Quality of being trusted in paying debts. - Credit position of a person or a company. - The financial position and reputation of a person or a company. An office which supplies financial information about company. A computer program which stores information systematically.

Reading 3
Sales ledger (S ci bn hng) Base rate (Li sut c bn) Banks base rate (LS c bn ca NH) Credit management (Qun l tn dng) Good risk (t ri ro) Poor risk (Ri ro cao) Bad risk (Ri ro qu cao) With recourse factoring (BTT c truy i) Without recourse factoring (BTT min truy i) Cash flow (Lu lng tin mt) Cash flow regulation (iu tit lu lng tin mt) Negative cash flow position (Lu lng tin mt m) A book of a company which certains income from sales and unpaid invoices. A bank rate which is used to calculate the different rates for lending. A basic rate of interest on which the actual rate a bank charge on loans to its customers is calculated. - Management dealing with amount of credit which will be given to a customer and deciding risk in giving credit. (It consists of creditworthiness and credit status). - Is supervising the ability of the debt repayment of the buyers. - Its not likely that insurance company will have to pay out against claims where a customer is concerned. - is acceptable risk - Its a little likeyly that insurance company will have to pay out against claims where a customer is concerned. - a lot of risk but is still acceptalbe. - Its very likely that insurance company will have to pay out against claims where a customer is concerned. - is unacceptable risk. A factoring where the factors may get the money back from their customers (creditors). - The factor has the right to get its money back from the suppliers if the debtor fail to pay invoices - A factoring where the factors cant get their money back from their customers (creditors), that is, they buy debts at their own risk. - The factor buy unpaid invoices from suppliers at their own risk, taking full responsibility for collecting the debt. The amount of cash which come into a company from sales or goes out in purchase. Adjusting inflow and outflow of cash in order to avoid cash flow problem (negative cash flow position). Position where cash income is not coming in fast enough to pay the expenditure going out.

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Specialist company (Cng ty chuyn khoa) Speculative company (Cng ty u c) One off deal Confidential invoice discounting (Chit khu ha n ng tin cy) After sale service (Dvu sau bn hng) Specialist (Chuyn gia) Subsidiary (Chi nhnh) Service industry (Ngnh KD dch v) Raise an invoice To Assess (nh gi) Sales ledger administration (Qun l s ci bn hng) Trade debt (N thng mi) Supplier (Nh cung cp) Consumer goods (Hng ha thng thng) Capital goods (Hng ha sn xut)

A company which deals with only one particular type of product or services. A company which takes a risk in business with a hope it will bring profit. A deal which is done or made only one. A factoring where discounting of invoices is selected by the customer (creditor). A service which is needed after sales. A person highly skilled and knowledgealbe in one subject or activity. A company which is owned by another company Business which do not sell goods To write out an invoice. To calculate the value of something. A kind of factoring where the factor administers the suppliers sales ledger (in order to decide to buy unpaid invoices at a discount) Debt which a company owes to another company. A person or company who suppliers or sells goods and services. Goods bought by consumers or by members of the public. (such as washing machines, cars,) Goods used to manufacture orther products (machinery, equipment.)

UNIT 2 Advising a business Discussion 1

Management policy (Chnh sch qun l) Management team (Ban qun l) Managing director (Gim c qun l) Budgeting (D tr ngn sch) Fixed cost (chi ph c nh) Variable cost (Chi ph bin i)

All the managers who work in a particular company. The director who is responsible for a whole adives of a company. - Planning expenditure in advance. - The preparation of budgets to help plan expenditure and income. - Money be paid to produce a product which do not increase with the amount of product made (such as money on upkeep machinery, salaries) - Is the cost which do not vary with the quantity of products made. - Money paid to produce a product which increases with the quantities of product made (such as money on raw materials).

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- Is the cost which vary with the quantity of products made. - is the cost which is altered when the products change. Cash flow forecasting - Foreseeing the amount of cash of a company at one time. (c tnh lu lng - estimation of monthly cash flow in advance. tin mt) Pricing Giving a price to product Pricing policy A companys policy in giving price to its product (Chnh sch gi c) Trade discount - Reduction in price given to a customer in the same trade. (Chit khu TM) - The discount for the customer who buy/purchase in large quantities. Cash discount - Reduction in price given to a customer who pay cash. (Chit khu tin mt) - The discount for the customer who pay in cash early. Current expenses - Costs of the day to day running of a business. (Chi ph hng ngy) - Expenses in a short run of a company such as salaries, expenses on raw materials, overheads Wage - Weekly payment to workers. (Tin cng, lng - Money paid (usually in cash each week) to a worker for work done. tun) Salary - Monthly payment to workers. (Tin lng) - Payment for work, made to an employee with a contract of employment, usually in the form of monthly payment. Overhead - Costs of day to day running of a business or a part of a business (ie: (Chi ph hnh chnh) any costs, other than the cost of goods offered for sale). - Fixed business costs, such as rent, electricity and interest. Bulk purchase Buying large quantities at low prices. (Mua SL ln) Upkeep cost Costs of keeping something in good order and repairing. (CF bo dng)

Discussion 2
Stock (Kho) Stock control (Kim k kho) Management accounting (K ton qun tr) Credit account (Ti khon bn chu) Consolidated credit account (Ti khon tn dng tng hp) Profitability account (Ti khon sinh li) Auditor (Kim ton) Book-keeping (S sch k ton) The quantity of goods for sale in a warehouse or retail outlet. Controling raw materials, unfinished goods and unsold finished gooods. Preparing and managing financial accounts Account which a customer has with s shop which allows him to buy goods and pay for them later. - A credit account for all trade debtors. - An account where the financial position of several different companies are recorded together on credit - Account which shows ability of making profit of a company. - An account for a company showing expenditure and income over a period time(usually are clendar year), balanced to show a final profit. Person who checks/examines books and account(finacial documents) of a company. Is the work of keeping the financial records of a company on an organization.

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Opportunity cost (Chi ph c hi) Current assets

Fixed assets (Ti sn c nh) Credit control (Qun l tn dng) Turnover (Doanh thu) Costing (Chi ph)

Value of another method of investment, which could have been used, instead of the one adopted. - Assets with small value and used in a short run and whose value is passed onto the value of a product once. - The assets used by a company in its ordinary work and which are held for a short time only. - Property or machinery which a company owns and uses, but which the company does not buy or sell as part of its regular trade. - assets with high value and use in a long time and whose value is gradually passed into the value of a product. - Checking credit status and credit worthiness. - is check that company pay on time and do not owe more than their credit limit. - The total value of sales of a company in one year. - The amount of sale of goods or services by a company Caculation of manufactoring cost and selling price of a product

Discussion 3
Assets (Ti sn) Under capacity (Di kh nng) Output (SL u ra) Surplus assets (Ti sn d tha) Sell off (Bn ht) Investment appraisal (Thm nh u t) Privatize (T nhn ha) Productivity (Nng sut) Gearing (T l vn vay) Capital gearing Equity Equity gearing Outstanding Outstanding loans (Khon vay cha tr) Accumulated resvers (Ngun d tr c tch ly) Shareholder (C ng) Venture capital Property or machines which a company owns and uses. Less output with much capital (or producing far less that it could). - Total production of a company. - The amount which a company, person or machine produces. Assets which are extra or more than is needed. To sell goods quickly to get rid of them Calculating the value of the investment. To sell a nationalized industry to private owners. The rate of output per employee or per machine in a factory - Borrowing in relation to capital - The act of borrowing money at fixed interest which is then used to produce more money. Borrowing in relation to capital invested. The value of a company which is the property of its shareholders. Borrowing in relation to a companys share capital. Amount of debt which hasnt been paid yet. Loans havent been repaid Reservers which a company has put aside over a period of years. A person who owns shares in a company Money invested in a company (usually small companies) whose return

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(Vn u t mo him) Share flotation (Pht hnh c phiu) Merchant bank (NHTM) Bought book Cash book Nationalize Evaluation Retained dividends Lessee (Ngi i thu) Lessor (Ngi cho thu) Lease purchase (Nghip v thu mua ti chnh) Leasing (Nghip v thu ti chnh) Leasing company (Cng ty cho thu ti chnh)

depends on how that company runs its business (well or badly/makes profit or loss) Starting a new company or expanding a company by selling shares in it or to public. A bank which operates a credit card system Book in which expenditure is noted. Record of cash or a book where cash is recorded. To put a privately owned industry under state ownership and control. Calculation of the value of someone or something. Money from profits not paid as dividend, but kept back by a company in case it is needed for a special purpose in the future. A person who has a lease or who pays money for a property he leases A person is an owner of a property who grants a lease on it. A method of finance where the customer hires and gradually buys a property (capital assests) by paying the bank in installments and at the end of the contract the property belongs to lessee. - Hiring a property for long period of time. - A method of usually long term finance operated by finance company subsidiaries of bank in a form of renting and at the end of the contract the property still belongs to lessor. A financial institution which specializes in leasing and lease purchase.

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