Credit, banking and financial vocabulary Flashcards
1
Q
Go bankrupt
A
Go bust, go broke
2
Q
Be sent an invoice
A
To be billed
3
Q
Nearly go bankrupt
A
The brink of bankruptcy
4
Q
Delay payment to the people you owe money to
A
Stall
5
Q
Force the people who owe you money to pay up
A
Put pressure on
6
Q
Pay in advance
A
Pay up front payment, pre-payment
7
Q
Making customers dissatisfied or angry
A
To alienate customer
8
Q
Accept a small loss in order to prevent a big one
A
To cut your looses
9
Q
Agree to lose money
A
To write it off
10
Q
An agreement by which a customer can withdraw more from a bank account than has been deposited in it, up to an agreed limit; interest on the debt is calculated daily
A
Overdraft
11
Q
A card which guarantees payment for goods and services purchased by the cardholder, who pays back the bank or finance company at a later date
A
Credit card
12
Q
A computerized machine that allows bank customers to withdraw money, check their balance, and so on
A
Cash dispenser (GB) or ATM (automated teller machine) (US)
13
Q
A fixed sum of money on which interest is paid, lent for a fixed period, and usually for a specific purpose
A
Loan
14
Q
An instruction to a bank to pay fixed sums of money to certain people or organizations at stated times
A
Standing order or credit debit
15
Q
A loan, usually to buy property, which serves as a security for the loan
A
Mortgage
16
Q
A plastic card issued to bank customers for use in cash dispensers
A
Cash card
17
Q
Doing banking transactions by telephone or from one’s own personal computer
A
Home banking
18
Q
One that generally pays little or no interest, but allows the holder to withdraw his or her cash without any restrictions
A
Current account (GB) or checking account (US)
19
Q
One that pays interest, but usually cannot be used for paying cheques (GB) or checks (US), and on which notice is often required to withdraw money
A
Deposit account (GB) or time or notice account (US)
20
Q
To place money in a bank; or money placed in a bank
A
Deposit
21
Q
The money used in countries other than one’s own
A
Foreign currencies
22
Q
How much money a loan pays, expressed as a percentage
A
Yield, interest rate
23
Q
Available cash, and how easily other assets can be turned into cash
A
Liquidity
24
Q
The date when a loan becomes repayable
A
Maturity date
25
To guarantee to buy all the new shares that a company issues, if they cannot be sold to the public
Underwrite
26
When a company buys or acquires another one
Takeover
27
When a company combines with another one
Merger
28
Buying and selling stocks or shares for clients
Stockbroking
29
Taking care of all a client's investments
Financial portfolio management
30
The ending or relaxing of legal restrictions
Deregulation
31
A group of companies, operating in different fields, that have joined together
Conglomerate
32
A company considered to be without risk
Blue chip
33
Ability to pay liabilities when they become due
Solvency
34
Anything that acts as a security or a guarantee for a loan
Collateral
35
Money to carry on production and keep trading
Working capital
36
Money a company has raised from investors who bought shares
Share capital
37
Money invested in a project with a high chance of failure
Risk capital
38
Money a company borrows to start up a new business
Venture capital
39
The perceived value of people and their skills
Human capital
40
Cancel a bad debt or a worthless asset from an account
To write off
41
Estimates of people's ability to fulfill their financial commitments
Credit ranking
42
Failure to repay a loan
Default
43
The money generated by an investment
Cash flow
44
With property or another asset used as a guarantee of payment
Collateralize
45
Money in notes and coins
Cash
46
Money borrowed from a bank
A loan
47
Borrowed money that has to be paid back
A debt
48
All the money received by a person or a company
Income
49
The money earned for a week's manual work
Wages
50
The money paid for a month's (professional) work
A salary
51
Money placed in banks and other savings institutions
Deposits
52
Money paid by the government or a company to a retired person
A pension
53
Place where the money that will ultimately be used to pay pensions is kept
A fund
54
The money needed to start a company
Capital
55
The money paid to lawyers, architects, private schools, etc.
Fees
56
Regular part payments of debts
Instalments
57
Part of payment that is officially given back (for example, from taxes)
A rebate
58
Place where estimated expenditure and income is written in
A statement
59
A person's money in a business
Stake
60
Money given to producers to allow them to sell cheaply
A subsidy
61
Money given to developing countries by richer ones
Aid
62
Possess something
Own
63
To reimburse or repay someone
Owe
64
To let someone else have the use of your money for a certain period of time, after which it must be paid back
To lend
65
To take money that has to be repaid
To borrow
66
An amount of money lent
A loan
67
A person who has borrowed money
A debtor
68
A lender
A creditor
69
The income received by someone who lends money
interest
70
The borrower has to pay back the loan itself
The principal
71
The amount of money a lender receives for a loan or an investment, expressed as a percentage
Return/ yield
72
The process when financial assets like mortgages which produce a cash flow are pooled (grouped together) and converted into securities that are then sold to investors
Securitization
73
A ridiculous level
A fever pitch
74
To cut drastically
To slash off
75
Fiercely competitive
A cut-throat struggle
76
Took 40c off
Knock 40c off
77
Major companies
The corporate heavyweights
78
Total sales before costs are deducted
A turnover
79
Profit margin
A mark-up
80
Pay a lot of money for
To spend a fortune for
81
Official value of an asset
Book value
82
Extra income
Additional revenue
83
Severe measures against law-breakers
A crackdown
84
Goods used shortly after purchase such as food, newspappers, etc.
Non-durables
85
Goods which last a long time such as cars, televisions, etc.
Durables
86
Laws to defend buyers against unfair trading
Customer protection
87
Market study of buyer behavior patterns
Research
88
Description of a typical buyer according to age, sex, social status, etc.
Profile
89
A financial operating plan showing expected income and expenditure
Budget
90
Anything owned by a business - cash, buildings, machines, equipment, etc.
Assets
91
All the money that a company will have to pay to someone else in the future, including debts, taxes and interest payments
Liabilities
92
An entry in an account, recording a payment made
Debit
93
An entry in an account, recording a payment received
Credit
94
Something without a material existence, which you can't touch
Intangible
95
A liability which has been incurred but not yet invoiced to the company
Accrued liability
96
Delayed or postponed until a later time
Deferred
97
Calculating all the expenses involved in producing something, including materials, labor, and all other expenses
Cost accounting
98
Calculating how much an individual or a company will have to pay to the local and national governments (and trying to reduce this to a minimum)
Tax accounting
99
Inspecting and reporting on accounts and financial records
Auditing
100
Preparing financial statements showing income and expenditure, assets and liabilities
Accounting
101
Providing information that will allow a business to make decisions, plan future operations and develop business strategies
Managerial or management accounting
102
Using all available accounting procedures and tricks to disguise the true financial position of a company
"Creative accounting"
103
Writing down the details of transactions (debits and credits)
Bookkeeping
104
A statement giving details of money coming into and leaving the business, divided into day-to-day operations, investing and financing
Cash flow statement
105
A statement showing the difference between the revenues and expenses of a period
Income statement
106
A statement showing the value of a business's assets, its liabilities, and its capital or shareholder's equity (money the business has that belongs to its owner)
Balance sheet
107
All the money belonging to the company's owners
Shareholder's equity
108
Assets whose value can only be turned into cash with difficulty (e.g. reputation, patents, trade marks, etc.)
Intangibles
109
Capital that shareholders have contributed to the company above the nominal or par value of the stock
Additional paid-in capital
110
Expenses such as wages, taxes and interest that have not yet been paid at the date of the balance sheet
Accrued expenses
111
Money owed by customers for goods or services purchased on credit
Total receivables
112
Money owed to suppliers for purchases made on credit
Accounts payable
113
Money paid in advance for goods and services
Prepaid expenses
114
Profits that have not been distributed to shareholders
Retained earning
115
Tangible assets such as offices, machines, etc.
Equipment
116
The difference between the purchase price of acquired companies and their net tangible assets
Goodwill
117
The total amount of money owed that the company will have to pay out
Total liabilities
118
A fund that exactly follows the movement of an index
A tracker fund
119
A high risk corporate bond
Junk bond
120
Having a second position in a market, so that it the market moves against your first position your losses are minimized
Hedging
121
Financial institution used by large companies to issue bonds, buy and sell currencies, manage their portfolio of shares in other companies, and advice on any potential merger or acquisition
An investment bank
122
Financial institution used to save money during your working life and then have income during retirement
A pension fund
123
Financial institution used by private investors to hold a basket of stocks
A mutual fund
124
Financial institution used to protects yourself against risks (money is paid out if something bad happens)
An insurance company
125
Financial institution used to generate an income for non-commercial purposes, in particular to run a university or provide for charity
An endowment
126
How sensitive a company's sales are to changes in the price of its products
Price elasticity
127
How much money is needed to run this type of business
Capital requirements
128
Whether other companies could offer a similar product
Ease of substitution
129
How much market share a company has, and whether it has strong products in different segments of the marker
Market penetration
130
Contracts giving the right, but not the obligation, to buy or sell a security, a currency, or a commodity at a fixed price during a certain period of time
Options
131
Contracts to buy or sell fixed quantities of a commodity, currency, or financial asset at a future date, at a price fixed at the time of making the contract
Futures
132
A general name for all financial instruments whose price depends on the movement of another price
Derivatives
133
Buying securities or other assets in the hope of making a capital gain by selling them at a higher price (or selling them in the hope of buying them back at a lower price)
Speculation
134
making contracts to by or sell a commodity or financial assets at a pre-arranged price in the future as a protection or 'insurance' against price changes
Hedging
135
Raw materials or primary products (metals, cereals, coffee, etc.) that are traded on special markets
Commodities
