《剑桥金融财务英语(acca)》.ppt

*;*;*;*;*;*;*;*;*;*;*;*;*;*;10 Auditing;;-;;;*;*;*;*;*;*;;;;;;*;;; ;29 Stocks and shares;B.Going public（公开上市）;;C.Ordinary and preference shares(普通股和优先股);;30 Stocks and shares 2;;;;;Companies can also choose to capitalize part of their profit or retained earnings. This means turning their profits into capital by issuing new shares to existing shareholders instead of paying them a dividend. There are various names for this process. including scrip issue(发行红利股). capitalizations issue and bonus Issue. Companies with surplus cash can also choose to buy back some of their shares on the Secondary market. These are then called own shares(回购). ;C. Categories of stocks and shares（股票的分类）;Growth stocks（成长股）：Stocks that are expected to regularly rise in value. Most technology companies are growth stocks. and don‘t pay dividends. So the shareholders’ equity or owners‘ equity increases. This causes the stock price to rise。 Income stocks(收益股票): Stocks that have a history of paying consistently high dividends.;;31 Shareholders;;;B.Dividends and capital gains;;C. (投机者); Day traders usually work with online brokers(网络经纪公司,折扣经纪公司) on the internet, who charge low commissions (佣金)- fees for buying or selling stocks for customers. take a short position(做空头交易):which means agreeing to sell stocks in the future at their current price. before they actually own them. They then wait for the price to fall before buying and selling the stocks. ;take a long position(做多头交易) - means actually owning a security (拥有证券)or other asset, that is buying it and having it recorded in ones account. June l: Sell l.000 Microsoft stocks. to be delivered(交割) June 4. at current market price: $26.2。 June 3: Stock falls to $25.90 Buy l 000。 June 4:Settlement day Pay for l000 Stocks @ $25.90, receive l.000 x $26.20. Profit $300。;32 share prices(股价);;B. Predicting prices;;;Types of risk;;33.Bonds(债券);Government bonds are considered to be a risk-free investment. In Britain government bonds are know