Professional Documents
Culture Documents
UNIT19. MARKETING..........................................................................................15
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UNIT 16: CORPORATE FINANCE
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from investment, được dự trữ thay vì trả
its reserved instead cho cổ đông.
of paying to
shareholder.
12 Net profit Lợi nhuận ròng Is the actual profit Là lợi nhuận thực tế
after working sau khi các chi phí lao
expenses not động không bao gồm
including in the trong tính toán lợi
calculation of gross nhuận gộp đã được
profit have been thanh toán.
paid.
13 Gross profit Lợi nhuận gộp Is the profit a
company makes
after deducting the
costs associated
with making and
selling its products
and services.
14 Common shareholder cổ
đông phổ thông
15 Referred shareholder cổ
đông ưu tiên
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16 Common stock Cổ phiếu Is a security that
phổ thông represents
ownership in a
corporation.
17 Referred stock Cố phiếu ưu Is a special type of
đãi stock that pays a
Combines aspects of both set schedule of
common stock and bonds in dividends and
one security. doesn’t come with
voting rights.
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What are the
sources of
finance?
How to use
the finance
profitably?
2. Raising the
finance
from: shares,
debentures,
banks,
financial
institutions,
creaditors,…
3. Investing the
finance in
fixed capital
and working
capital.
4. Monitoring
the finance
1 Funding the business Is the process of providing Là quá trình cung cấp vốn
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funds for business activities, cho các hoạt động kinh
making purchase or doanh, mua hàng hoặc đầu
investing. tư.
2 Reinvested earnings Are the direct investors’s Phần thu nhập của nhà đầu
Lợi nhuận giữ lại để tái share of earnings form direct tư trực tiếp có phải là hình
đầu tư investments that are not thức đầu tư trực tiếp không
distributed to owners được phân phối cho chủ sở
hữu không
3 Bank loan Is an amount of money
Khoản vay ngân hàng loaned at interest by a bank
to a borrower.
4 Bank overdraft Is a loan provided by a bank
Thấu chi ngân hàng that allows a customer to
pay for bills and other
expenses when the account
reaches zero.
5 Debt financing Is borrowing money on
Huy động vốn vay credit with a promise to
repay the amount borrowed,
plus interest.
6 Equity financing Is that issuing additional
Huy động vốn chủ sở shares of common stocks to
hữu an investor.
7 Gearing Hệ số vốn ( nợ/ vốn) Is the rate of a
company’s debt- to- equity.
8 High gearing In times of prosperity, a
high gearing will give the
owners a much better return
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as net profits will be a much
higher percentage of equity
after interest payments on
the long-term debt.
In harder time, the owner’s
earning will drop
dramatically as interest
payments soak up most of
the company’s profits.
9 Low gearing In periods of low profit and
high- interest rate,
companies are less
vulnerable to default and
bankruptcy risk.
Disadvantage: companies
may not be able to maximize
growth opportunities by
taking in debt.
10 Fresh share cổ phiếu Refers the stocks offered
mới first time in the public.
11 Owner’s capital = Is the money business
owner’s equity owners or shareholders
have invested in their
businesses.
12 Long- term debt Us the debt that has maturity
of more than ten years.
13 Short- term debt Is the debt that has maturity
of less than 1 year.
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14 Intermediate- term Is the debt that has maturity
debt from one to ten years.
15 Venture capital Is the capital invested in a
Đầu tư mạo hiểm project in which there is a
substantial element of risk,
typically a new or
expanding business.
Advantage: venture capital
company doesn’t usually
interfere in the running of
the company.
Disadvantage: the provider
usually demands a much
faster and higher rate of
return than an owner would
expect from his owner
capital.
16 Rate of return Is the net gain or loss on
Tỷ suất hoàn vốn investment over a specified
time period, expressed as a
percentage of the
investment’s initial cost.
17 Unlisted securities Is the market which for
market trading in shares of smaller
Thị trường chứng companies, who didn’t wish
khoán chưa niêm yết to comply within the
requirements for a full
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listing.
18 Stock exchange Is a market in which
Thị trường chứng securities are traded.
khoán tập trung
19 Long- term loan Is a form of loan that is paid
Khoản vay dài hạn off over an extended period
of time greater than 3 years.
20 Clearing bank- ngân
hàng thanh toán bù trừ Is the bank dealing in
Merchant bank ngân commercial loan and
hàng thương mại investments.
Pension fund quỹ hưu Is a fund which pensions are
trí paid, accumulated from
contributions from
employers, employees or
both.
21 Bank base rate Is an available invest rate set
Lãi suất cơ bản của by individual banks and
ngân hàng used as a reference when
lending to borrowers.
22 Capital Is the money that a company
uses to operate and develop.
Classification: based on
form: material, monetary,
invisible form
Based on purpose of using:
fixed capital and working
capital
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Based on ownership: debt
capital and equity capital
23 Share capital Is the capital which
vốn cổ phần contributed by shareholders
who out money and hold
shares in the company.
24 A venture capitalist Is someone who puts up
money for a lot of new
companies.
25 Loan capital Is a type of capital which
Vốn vay funding must be paid. This
from of funding os
comprised of loans, bonds,
and referred stocks that must
be paid back to investors.
26 Liquility Is the availability of liquid
Tính thanh khoản assets to market or
company.
27 Angel capital Is the capital of investment
Nguồn vốn thiên thần capital from angel investors.
Advantage: the owner isn’t
interfered in the running of
the company by angel
investors.
Disadvantage: just for start
up companies.
28 Trade credit Is a credit arrangement to
Tín dụng thương mại buy goods and services on
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account without making
immediate cash or cheque
payments.
Consumer credit Is personal debt taken on to
purchase goods and
services.
29 Commercial credit Is the debt credit granted by
a bank to a business concern
to finance commercial
transaction.
30 OTC market Stands for over- the-
Over the counter counter, it refers to trading
securities outside of an
official stock exchange.
31 Security Is a financial instrument that
has value and be traded.
32 Leverage Is an investment strategy of
đòn bẩy tài chính using borrowed money to
increase the potential return
of an investment.
33 Market Is the place in which goods
and services are traded by
buyers and sellers.
34 Financial market Is the market in which
financial instruments are
traded.
35 Debt market Is the market in which debt
instruments are traded.
36 Equity market Is the market in which
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equity instruments are
traded.
37 Primary market Thị Is the market in which fresh
trường chứng khoán sơ securities are issued and
cấp sold to initial buyers.
38 Secondary market Is the market in which
outstanding securities are
resold.
39 Maturity Is the time when an
đáo hạn investment or insurance will
be paid back.
40 Centralized securities Is a financial market
market structure that including all
Thị trường chứng order routed to one central
khoán tập trung exchange with no other
competing market.
41 Decentralized Contains digital technology,
securities market which allows buyers and
Thị trường chứng sellers of securities to deal
khoán phi tâp trung directly with each other
instead of meeting in a
traditional exchange.
42 Listed securities Is the principal stock
marketThị trường exchange on which
chứng khoán niêm yết securities of the company
are listed for trading.
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UNIT 18: MANAGEMENT OF WORKING
CAPITAL
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7 Overdraft Is a credit arrangement between a trade bank and a
customer that allows account holder to pay over the
Thấu chi
balance of bank account.
8 3 major applications
9 Inventory Is the amount or value of a firm’s current assets that
Hàng tồn kho consist of raw materials, work in process and finished
goods; stocks.
Management: minimize the stocks of raw material, the
working in process, the finished goods.
1 Debtor Is someone who owes money.
0 Management: to keep balance the gap between
receivable (payment owed by customer) and payable
(payment due to supplier).
1 Cash Is money in the physical form of currency, such as
1 banknotes and coins.
Management: ensure that adequate cash is always
available for meeting the company’s day to day debts
and a small reserve on hand to meet contigencies.
1 Over-stringent cost control => delaying in receiving raw materials, failure to take account of
2 costly price rises => disruption in production => failure to keep the production volume =>
failure to meet customer orders => loss of customer goodwill => loss of sales => continue
the cycle ( vòng lặp lại luẩn quẩn )
1 Customer goodwill Is the part of a company’s value that includes things
3 Uy tín khác hàng can’t be directly measured, for example its good
reputation or its customers’ loyalty.
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1 Excess working capital Means that the working capital of a company is higher
4 Thặng dư vốn lưu động than the norm.
1 Minimal credit Is the lowest credit line offered to an account holder.
5 Tín dụng tối thiểu
1 Just in time philosophy Is a management philosophy that is aimed at
6 Triết lý đúng thời điểm reconciling these often conflicting interests and
keeping inventory cost to a minimum.
UNIT19. MARKETING
1 Distinguish between
2 Selling concept Refers that products are sold rather than bought because
consumers have to be persuaded by hard- selling techniques
of a company to purchase unnecessary goods and services.
3 Marketing concept Refers that you won’t sell what you make, you make what
will be bought because producers’ tasks is to find wants and
fill them.
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5 Goal of marketing Make selling surplus and minimize expenditure => maximize
the benefit.
6 Market opportunities Is a situation in which a product, service, … that is potentially
Liên quan đến market wanted or needed by consumers is identified by a business as
segment not being supplied by viral companies.
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15 Potential consumer Is someone who is capable of becoming a purchaser of
Khách hàng tiềm năng products and services from an organization.
16 Sale promotion is a set of marketing technologies aimed to stimulate the
Xúc tiến thương mại demand in particular products and increase brand awareness.
17 Consumer market Is the market in where people purchase products and services
for consumption and are not meant for further sale.
18 Product market Is the economic marketplace where the final goods or services
are traded.
19 Marketing mix Is the set of different substances together in marketing.
20 Product in marketing mix Is all the marketing activities aim to determine the market
demand on the characteristic of the product.
21 Place in marketing mix Refers to all the marketing activities aim to find the
geographical location in which the company sells its products
and provides its services.
22 Price in marketing mix Refers to all the marketing activities aim to find a acceptable
price in the certain market segment.
23 Promotion in marketing Refers to all the marketing activities aim to communicate
mix with the specific objective of informing, persuading and
remembering a potential consumer.
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UNIT 20: SETTING THE PRICE
10 Trade off by workers Workers trade off earning an immediate income by working
now for hopefully earning higher income by continued
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education.
11 Trade off firms With limited resources, firms have to decide whether to hire
more workers or buy more machines to improve their
productivities.
12 Price Is the amount of money or goods that are asked for or given in
exchange for something else.
13 Price in demand and If the price of a particular good or service is increase, the
supply ( chỉ làm thay đổi quantity demanded of that good is decrease/ the quantity
LƯỢNG CUNG/CẦU) supplied of that good is increase.
( giá và cầu ngược chiều nhau, giá và cung cùng nhiều nhau)
14 How are price set? In a planned economy, prices are set by the government.
In a market economy, prices are determined and set by buyers
and sellers.
15 Price in marketing mix Price Is the only element in the marketing mix that produces
revenue, the other elements represent costs.
Price in marketing mix includes basic list price, discount, the
length of the payment period, possible credit term.
16 Acceptable price Is the price at which both buyers and sellers are willing and
able to exchange.
17 Discount Is a deduction from the full or standard amount of price or
debt.
18 Negotiation Is the discussion aimed at reaching an agreement.
19 Bargain Mặc cả Is the action that discusses about prices, conditions to reach a
satisfactory agreement.
20 Microeconomics Is a type of economics that focuses on the actions of
individuals and industries, like the dynamics between buyers
and sellers, borrowers and lenders.
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21 Handle pricing In small company, prices are often set by top managements
rather than marketing or sales departments.
In large company, top managements set the general pricing
objectives and policies, and often approve the prices proposed
by lower levels of managements.
Industries, prices are set by pricing department and then report
to both marketing department and top management.
22 Common mistakes in 1. Pricing is too cost oriented. ( qúa tham )
handle pricing 2. Price is not revised often enough to capitalize on market
changes.
3. Price is set independently of the rest of the marketing
mix rather than as an intrinsic element or market-
positing strategy.
4. Price is not varied enough for different prouct items and
market segments. ( chê tiền)
23 Market segment Is a part of market that includes a group of customers who
have the same characteristics.
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2 Accounting information Means legal accounting data about a business
entity’s transactions (that includes legal VAT
invoices, bills, receipts)
3 Financial accounting Is the process of collecting, checking, analyzing and
providing accounting information to the external
users.
TASK of accountant: maintain financial
accountability and provide reports to external users.
Purpose: to assist investors and creditors in deciding
where to place their scare investment resources.
4 Financial accounting Is financial data about revenues, expense, assets,
information liabilities and equity.
5 External users Are people outside the business entity who use
accounting information. They are suppliers, banks,
customers, investors, potential investors, tax
authorities, auditors…
6 Management accounting Is the process of collecting, checking, analyzing and
providing accounting information to the internal
users.
TASK of accountant: help to choose and manage
corporation, provide reports to internal users.
Purpose: to set the company’s overall goals,
evaluate the performance of departments in
individuals.
7 Management information Is managerial date about product costing, budgeting,
forcasting and various financial analysis.
8 Internal users Are people within a business organization who use
accounting information. They are owners, managers
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and employees.
9 Tax accounting Is a type of accounting methods focused on taxes
rather than the appearance of public financial
statements.
TASK of accountant: provide tax-related services
and focus on tax returns
Purpose: to reduce tax returns.
10 Tax accounting information Is financial data about incomes, qualifying,
deductions, donations and any investment gains or
losses.
Who care that information: tax authorities,
department of taxation, state agencies,…
11 Financial statement Is the report that show financial activities and
performance of a corporation.
12 Tax return Is a form that someone must fill in to give
Kê khai thuế information about how much they have earned in a
year.
13 Income Is the money that people and business receive in
exchange for working, providing goods or services
or investing capital.
14 Ledger Is a book or collection of accounts in which account
Sổ cái transactions are recorded.
15 Liabilities Are debts and obligations of a business enterprise
that recorded in the balance sheet.
16 Cost accounting Is the reporting and analyzing of a company’s cost
Kế toán chi phí structure.
17 Auditing Is the process of checking a company or
organization’s financial statements to make certain
they are correct and complete, and then providing
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this information in an official report.
18 Bookkeeping Is the recording of financial transactions and it is a
Ghi sổ kế toán part of the process of accounting in business and
other organizations.
19 Task of accountant Collecting accounting data : cash in/out, legal
invoices, bills, receipts,….
Checking accounting information and sure that they
are legal, suitable
Classifying accounting information, if they have
some problems, accountant must solve them.
Providing financial statements to the economic
decision makers and websites of the corporation.
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4 An account Is an accounting record which includes similar transactions.
9 T account Is an informal term for a set of financial records that use double
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entry bookkeeping.
T account has T-shaped and this is divided into 2 parts. The left
side is the DEBIT side and the right side is the CREDIT side.
Mô tả tài khoản chữ T
T account of assets: an increase of assets will be recorded in the
DEBIT SIDE, a decrease in the CREDIT SIDE. Ending balance
will be recorded in the DEBIT SIDE and its equation is the total
of the DEBIT SIDE minus the total of the CREDIT SIDE.
T account of liabilities plus equity: T account of assets: an
increase of assets will be recorded in the CREDIT SIDE, a
decrease in the DEBIT SIDE. Ending balance will be recorded in
the DEBIT SIDE and its equation is the total of the CREDIT
minus the total of the DEBIT SIDE.
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1 Overheads Are business expenses, such as rent, that are not directly
6 Chi phí hoạt động attributable to any department or product and therefore e assigned
only arbitrarily.
1 Net assets Are the value of a company’s assets minus its liabilities.
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1 Liabilities Are debts and obligations of a business enterprise that recorded in
8 the balance sheet.
1 Account receivable Is sum of money owed to customers for goods and services
9 Tài khoản phải thu purchase on credit.
2 Account payable Is sum of money owed to suppliers for purchase made on credit.
0 Tài khoản phải trả
2 Equation Is the statement that 2 mathematical expression are equal.
1 Công thức, phương trình
2 Net sales Is the sum of company’s gross sales minus its returns, allowances,
2 and discounts.
2 Trade discount Is a discount on retail price of something allowed or agreed
3 between traders to retailer by a wholesaler.
2 Financial statement Is the report that shows the financial activities and performance of
4 a corporation.
2 Share premium/ paid Is the excess money realized by selling shares at abouve their
5 in surplus normal value.
Thặng dư vốn cổ phần
2 Selling expenses Are expenses incurred directly and indirectly in making sales.
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2 General and Are operating expenses not directly associated with the sale of
7 administrative goods.
expenses
2 How profits are usually Part goes to the government in taxation
8 split? Part is usually distributed to shareholders as dividends
Part is retained by the company.
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2 Function of financial Allocating of financial resources, development of new products
9 statements and expansion of operations.
Determining income taxes liabilities.
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1 Auditing Is an accounting function that involves the review and
evaluation of financial records.
2 An audit Is a professional, independent examination of a
company’s financial statements and accounting
documents following generally accepted accounting
principles.
3 An auditor Is a person who officially examines the business and
financial records of a company.
4 Record Is a written account of something that is kept so that it can
Sổ sách, chứng từ kế be looked at and used in the future.
toán
5 Internal audit Is a process of evaluate a company’s internal controls,
Kiểm toán nội bộ including it’s corporate governance and accounting
process.
6 Internal control Is a process which effected by an entity’s board of
Kiểm soát nội bộ directors, management and other personnel, designed to
provide reasonable assurance.
7 An internal auditor Is a trained professional tasked with providing
Kiểm toán viên nội independent and objective evaluations of company
bộ financial and operational business activities.
8 External audit Is an examination that is conducted by an independent
auditor outside the audited corporation.
Operational audit Us a type of audit service which mainly focus on the key
Kiểm toán hoạt process, procedures, system,… of an organization and
động examines an organization conducts business.
classify
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currently financial policies.
Information Is a type of audit service that is an examination of the
system audit control within an entity’s information technology
infrastructure.
Investigative audit Is a type of audit service that refers verification and
clarification of transactions in accounting departments and
organizations in general.
PHÂN LOẠI KIỂM TOÁN
Internal audit
1. Objectives: to review the routine activities and provide suggestion for the
improvement.
2. Conducted by: company’s auditor.
3. Users of report: management, directors, external auditors
4. Period: continuous process
5. Checks: operational efficiency.
External audit and state audit
1. Objectives: to analyze and verify the financial statements of audited corporation.
2. Conducted by: outside auditor (individual, firm or state)
3. Users of report: investor, lenders, financial states.
4. Period: once in a year
5. Checks: accuracy and validity of financial statements.
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UNIT 27, 28, 29, 30. INTERNATIONAL
BUSINESS
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11 Import tariffs Are taxes charged by the customs authority on the importation of
goods into a country.
12 Cost insurance freight Refers to a shipping contract which includes the cost of goods,
Phí CIF includes the cost of goods, insurance and freight.
13 Free on broad Means that the transfer occurs at the seller’s shipping dock when
Phí FOB goods are safely on board the ship.
14 An exchange rate Is the rate at which one currency will be exchanged for another
currency.
15 The official exchange Is the rate of exchange set by market makers.
rate
16 The floating Is the rate of exchange set by forex market through supply and
exchange rate demand.
17 Forex market = Is the global marketplace for exchange national currencies.
foreign exchange
market
18 Market forces Are economic factors that affect the availability of goods and the
Lực lượng thị trường demand for them.
19 Import Refers purchasing goods produced in a country other than the one
in which it is sold.
20 Export Refers selling goods and services to other countries and get
revenue back in order to earn profit.
21 Trade barriers Are restrictions on international trade made by government
22 Why do Encourage export : because a country enjoys an advantage if it
government… exports more than it imports. Wealth accrues to the exporting
country.
Methods:
1. provide marketing information
2. establish trade missons
3. subsidize exports
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4. provide tax benefits
Discourage import: because a country enjoys an advantage if it
exports more than it imports. Wealth accrues to the exporting
country. And protect domestic industry.
Method: use trade barriers
23 Phân loại TRADE Tariffs Are simply taxes placed on imports
Quota is a limitation on imported goods and services
BARRIERS
Embargo is the official punishment on international trade of a
certain country.
Subsidies is a grant paid by a government to a corporation to help
that corporation sells products at better prices.
24 Balance of payment Is the difference between imports and exports of goods, services
and financial resources.
25 Current account Is the difference between imports and exports of goods and
services.
26 Capital account Refers investment inflow and outflow of a country
27 Merchandise trade Is the difference between imports and exports of visible goods.
balance = balance of
trade
28 Trade deficit Is a situation in which the value of goods that a country imports is
more than the value of goods it exports. Or the size of this
difference.
29 Trade surplus Is a situation in which the value of goods that a country exports is
more than the value of goods it imports, or the size of this
difference.
30 Why do government 1. To protect domestic employment
use trade barriers 2. To protect relatively young domestic industries
3. To prevent unfair trade practices of foreign firms
4. To prevent dumping
5. To protect firms and industries that produce output vital to
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the security and defense of the nation
31 Affection / Advantage:
characteristics of 1. Trade barriers tend to be beneficial to the aggregate
trade barriers domestic economy.
Đặc điểm 2. Domestic firms benefit higher sales, greater profits and
more income to resource owners.
Disadvantage: trade barriers tend to be harmful to domestic
consumers.
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