BEC中级Unit 6a Reporting Results.pptVIP

Unit 6a. Reporting Results业绩报表 Agenda Terms (used in assessing performance of a company) Terms/expressions (used in describing upward trend and downward trend) Textbook: complete a graph Textbook: Reading 1-Annual reports Textbook: Speaking 4-How to invest Report writing Composition based on graphs and charts 2nd assignment Who cares about the performance of a company? PE (private equity investors) 私募投资者 (赵丹阳, “中国私募教父”, “赤子之心” 中国成长投资基金（Pure Heart China Growth Investment Fund）”的创办人) Debtholders 债权人 (banks, bondholders, VC (venture capital) Shareholders (institutional and individual) 股东 (机构和个人) “corporate raiders” (take over a company and enact measures aimed at increasing the share value by replacing top executives, downsizing operations, or liquidating the company.) Senior managers (CEOs, COOs, CFOs, CIOs, etc. keep jobs, get bonuses, exercise stock options, etc.) Vocabulary for performance Profitability 收益性 Revenue (sales, income, gross income)总收入 Operating expenses 营业费用 Cost of goods sold (COGS) 成本 Gross profit ((revenue-COGS)/revenue)毛利润 Operating income (gross income-operating expenses -depreciation)营业收入 Operating margin (operating income/net sales)经营利润 EBITDA (Earnings before Interest, Taxes, Depreciation, and Amortization)息税折旧摊销前利润 (depreciation for tangible assets, amortization for intangible assets) Profit margin (net income/total sales)利润率 Net income (revenues-COGS-depreciation-interest-taxes-other expenses)净收入 Return on equity (ROE) (net income/shareholders’ equity) 净资产收益率 Return on assets (ROA) (net earnings/total assets)资产收益率 Return on investment (ROI)投资回报率 Price-earnings ratio (P/E ratio)市盈率 Earnings Per Share (EPS) 每股盈利 Price-To-Book Ratio (P/B Ratio)市净率 The current ratio(流动比率) (thumb of rule 2:1) The quick ratio (速动比率) (Ideally, 1:1) The debt/equity ratio(债务股本比) (Debt / Owners Equity. In general, debt should be between 50 and 80 percent of equity) The financial statements (财务报表): balance sheet(负债表), income statement(损益表),