金融英语心得论文

slammedwhentheiradjustablemortgagefinallyadjusted.Whentoomanyofthemcouldn’taffordtomaketheirpayments,itcausestheselenderstosufferfromliquidityissueandtositonmoreforeclosuresthantheycouldsell.Mortgage-backedsecuritiesbecamemoreriskyandworthlesscausinginvestmentfirmslikeLehmanBrotherstosuffer.Moreover,insurerslikeAIGwhoinsuredthesebadmortgagesalsogotintrouble.Theschemeworkedwell,butitreversescourseandisnowcomingbacktohurteveryonewithavengeance.风萧♂易水※回答采纳率:16.7%2009-06-0520:26

Financial ManagementManagement of funds is a critical aspect of financial management. Management of funds act as the foremost concern whether it is in a business undertaking or in an educational institution. Financial management, which is simply meant dealing with management of money matters.Meaning of Financial Management By Financial Management we mean efficient use of economic resources namely capital funds. Financial management is concerned with the managerial decisions that result in the acquisition and financing of short term and long term credits for the firm. Here it deals with the situations that require selection of specific assets, or a combination of assets and the selection of specific problem of size and growth of an enterprise. Herein the analysis deals with the expected inflows and outflows of funds and their effect on managerial objectives. In short, Financial Management deals with Procurement of funds and their effective utilization in the business.So the analysis simply states two main aspects of financial management like procurement of funds and an effective use of funds to achieve business objectives.Procurement of funds:As funds can be procured from multiple sources so procurement of funds is considered an important problem of business concerns. Funds obtained from different sources have different characteristics in terms of potential risk, cost and control.Funds issued by the issue of equity shares are the best from risk point of view for the company as there is no question of repayment of equity capital except when the company is liquidated.From the cost point of view equity capital is the most expensive source of funds as dividend expectations of shareholders are normally higher than that of prevailing interest rates.Financial management constitutes risk, cost and control. The cost of funds should be at minimum for a proper balancing of risk and control.In the globalised competitive scenario, mobilization of funds plays a very significant role. Funds can be raised either through the domestic market or from abroad. Foreign Direct Investment (FDI) as well as Foreign Institutional Investors(FII) are two major sources of raising funds. The mechanism of procurement of funds has to be modified in the light of requirements of foreign investors.Utilization of Funds:Effective utilization of funds as an important aspect of financial management avoids the situations where funds are either kept idle or proper uses are not being made. Funds procured involve a certain cost and risk. If the funds are not used properly then running business will be too difficult. In case of dividend decisions we also consider this. So it is crucial to employ the funds properly and profitably.Scope of Financial ManagementSound financial management is essential in all types of organizations whether it be profit or non-profit. Financial management is essential in a planned Economy as well as in a capitalist set-up as it involves efficient use of the resources.From time to time it is observed that many firms have been liquidated not because their technology was obsolete or because their products were not in demand or their labour was not skilled and motivated, but that there was a mismanagement of financial affairs. Even in a boom period, when a company make high profits there is also a fear of liquidation because of bad financial management.Financial management optimizes the output from the given input of funds. In a country like India where resources are scarce and the demand for funds are many, the need of proper financial management is required. In case of newly started companies with a high growth rate it is more important to have sound financial management since finance alone guarantees their survival.Financial management is very important in case of non-profit organizations, which do not pay adequate attentions to financial management.How ever a sound system of financial management has to be cultivated among bureaucrats, administrators, engineers, educationalists and public at a large.Objectives of Financial ManagementEfficient Financial management requires the existence of some objectives, which are as follows1) Profit Maximization:The objective of financial management is the same as the objective of a company which is to earn profit. But profit maximization alone cannot be the sole objective of a company. It is a limited objective. If profits are given undue importance then problems may arise as discussed below.The term profit is vague and it involves much more contradictions.Profit maximization must be attempted with a realization of risks involved. A positive relationship exists between risk and profits. So both risk and profit objectives should be balanced.Profit Maximization fails to take into account the time pattern of returns.Profit maximization does not take into account the social considerations.2) Wealth Maximization:It is commonly understood that the objective of a firm is to maximize value and wealth.The value of a firm is represented by the market price of the company's stock. The market price of a firm's stock represents the assesment of all market participants as to what the value of the particular firm is. It takes in to account present and prospective future earnings per share, the timing and risk of these earning, the dividend policy of the firm and many other factors that bear upon the market price of the stock. Market price acts as the performance index or report card of the firm's progress and potential.Prices in the share markets are affected by many factors like general economic outlook, outlook of the particular company, technical factors and even mass psychology. Normally this value is a function of two factors:The anticipated rate of earnings per share of the companyThe capitalization rate.The likely rate of earnings per shares depend upon the assessment of how profitable a company may be in the future.The capitalization rate reflects the liking of the investors for the company.Methods of Financial Management:In the field of financing there are multiple methods to procure funds. Funds may be obtained from long term sources as well as from short term sources. Long term funds may be procured by owners that are shareholders, lenders by issuing debentures, from financial institutions, banks and the general public at large. Short term funds may be availed from commercial banks, public deposits, etc. Financial leverage or trading on equity is an important method by which a finance manager may increase the return to common shareholders.At the time of evaluating capital expenditure projects methods like average rate of return, pay back, internal rate of returns, net present value and profitability index are used. A firm can increase its profitability without adversely affecting its liquidity by an efficient utilization of the current resources at the disposal of the firm. A firm can increase its profitability without negatively affecting its liquidity by efficient management of working capital.Similarly, for the evaluation of a firm's performance there are different methods. Ratio analysis is a common technique to evaluate different aspects of a firm. An investor takes in to account various ratios to know whether investment in a particular company will be profitable or not. These ratios enable him to judge the profitability, solvency, liquidity and growth aspect of the firm.

China doesn't depend much on its trade surplus for growth any longer, according to a World Bank study, marking a sharp shift in the development model that helped turn China from an economic backwater into the world's second-largest economy.While China's trade surpluses are expected to average around $200 billion in 2011 and 2012, the World Bank said, that is 2.7% of projected gross domestic product, or just 0.2 percentage point of its expected growth, a much smaller percentage than in the past, thus reducing the contribution total trade makes to China's growth.Part of the reason for the diminished role for trade in China is meager demand in the rest of the world, which is struggling to recover from the global financial crisis, said Louis Kuijs, a World Bank senior economist in Beijing. But he also pointed to 'a structural process going on, coming from a strongly growing Chinese economy' that sucks in imports.The World Bank study could make it more difficult for the U.S. to argue for further Chinese action on its currency, especially coming on the heels of a quarter in which China ran a small trade deficit.U.S. political leaders for years have pointed to China's immense trade surpluses as evidence its currency is undervalued, and have pressed Beijing over and over to increase the yuan's value. The two countries are bound to tangle again over China's exchange-rate policy during a meeting of top Chinese economic and political leaders and their U.S. counterparts in Washington on May 9 and 10. Since China let its currency float somewhat in mid-June 2010, it has appreciated 5%据世界银行(World Bank)的一项研究显示，中国不再过多依赖贸易顺差来实现经济增长，标志着发展模式出现了重大转变。过去的发展模式帮助中国从一个经济封闭的国家成长为全球第二大经济体。世界银行说，尽管预计2011年和2012年中国的贸易顺差平均约为2,000亿美元，却只占预计国内生产总值(GDP)的2.7%，对GDP预计增速的贡献只有0.2个百分点，比过去要小的多，这样就减少了总体贸易对中国经济增长的贡献。世界银行驻北京资深经济学家高路易(Louis Kuijs)说，贸易在中国经济增长中作用减小的原因之一是，其他国家和地区在努力从全球金融危机中恢复，贸易需求很小。不过，他也指出，现在正在进行一场由中国强劲增长的经济推动下的结构性调整，对进口商品需求增大。世界银行的研究可能令美国敦促人民币进一步升值的工作更加困难，特别是在过去的一个季度中国出现小额贸易逆差之际。美国政府高层多年来一直说中国的巨额贸易顺差证明人民币被低估了，并一再敦促北京让人民币升值。在5月9日和10日华盛顿召开的中美战略与经济对话上，两国注定要在中国的汇率政策上再次交锋。自2010年6月中旬中国允许人民币汇率在一定程度上浮动以来，人民币已经累计升值5%。

初中就要写这么复杂的作文还要英文的 后生可畏啊