电大财经英语教材课文翻译及练习答案(3)

Unit 10

Hi Tom,

How are you? Have you moved in to your new flat?

We have received fifteen orders （订单）for computer screens. These orders are mostly from companies in London. Two are from Manchester. We have prepared the first container. （集装箱） We are shipping this out on the 12th of March. The customs documents （海关公文）are attached. It should take less than three weeks to arrive, if the weather is fine.

You have set up a warehouse, haven’t you? If not, then could you do that in the next two weeks? This should be larger than 20m by 15m. Please make sure that there is enough space where we can store more than two container loads.

By the way （顺便说）, we have asked our Hong Kong accountant for her opinion about our tax liabilities （负债）. She suggested you check with the UK authorities. They will know which taxes the London office should pay.

I’m sorry you have a lot to sort out. Please let me know if there is anything you need. Best Wishes James

Tom你好，

你好吗？你搬到新的公寓了吗？

我们接到了15个台电脑屏幕的订单。这些订单主要来自伦敦的公司。其中两个来自 曼彻斯特。我们第一个集装箱已经准备好了。我们将于3月12日装船运输。邮件附件为海关公文。如果天气状况良好，将在三星期以内到达。

你已经准备好仓库了，是吗？如果还没有，你能在未来两个星期内准备好吗。仓库需要大于20m*15m。请确保有足够的空间存放两集装箱的货物。 顺便说一下，我们已经咨询了我香港公司的会计师关于我们应承担的税。她建议你和英国政府确认一下。他们知道伦敦公司应该付的税。

我很抱歉你很很多事情需要整理。如果有任何需要请随时告知。 最真的祝福， James

1. What has Tom prepared? A new place to live.

2. How many orders are from companies in London? 13 3. When do they ship the goods? On the twelfth of March

4. What did the accountant advise Tom to ask? How much tax he should pay 5. What is attached to this email? Customs clearance papers

Talking with the accountants

Tom Walker has opened two current accounts for the new London office- one is pounds sterling, and the other in HK dollars. His company files accounts in HongKong. Taxes are lower in Hong Kong than in London. He wasn’t sure if his company would have to pay tax on profits in England. So he has asked the accountants at the bank for advice. The accountants have decided to ask the bank’s lawyers who will know what to do. They can tell them whether or not Tom Walker’s company should pay UK tax. The accountants advised him to keep two sets of books, and all the invoices and receipts. They said the lawyers needed a few months to check and answer. Tom Walker为新的伦敦办事处开了两个活期账户—一个英镑账户，一个港币账户。他的公司

的账目整理在香港。香港的税收比伦敦低。他不确定是否他们的公司需要付利润税给英国。所以他问了银行的会计意见。会计师决定问一下银行的法律顾问谁知道该做什么。他们会告诉他是否Tom Walker的公司需要付给英国税。会计师建议他保存两套账簿，所有的发票和收据。他们说律师需要几个月的时间对这个问题进行确认和给予答复。 1. Tom has opened a total of four bank accounts. F 2. Taxes are higher in London. T

3. The accountants know how to pay tax on profits. F 4. The bank employs lawyers. T

5. The accountants will keep the receipt. F

Unit 11

Then bank helps Steve set up offshore accounts

David explains to Steve how offshore accounting is used by international business. The ABHK bank owns a small bank in Jersey in the Channel Islands. Tax rates on profits are much lower there than in the UK. David is persuading Steve to open offshore accounts in Jersey, so that his company pays less tax.

Steve’s company operations are being expanded in Europe. If their export business is moved offshore, then the accounts will be easier to prepare. Although Steve at first though England was safer, David persuades him that Jersey is just as safe as England. Since Jersey is part of the British Isles, many companies open an office there. At last Steve decides to follow David’s advice. He writes a report for the other directors, in order that they understand this change. If they agree, his company will register a new office in Jersey.

David向Steve解释离岸银行账户如何在国际贸易里运用。ABHK银行在海峡群岛的泽西岛上有一家小分行。那里的利润税率比英国低很多。David正在劝说Steve在泽西岛开个离岸账户，这样他的公司可以少交一些税。

Steve公司的运营正在向欧洲大陆拓展。如果他们的出口业务移到境外进行，那么会计核算就会简单一些。尽管Steve起初觉得英格兰安全一些，David说服他（相信）泽西和英国一样安全。由于泽西是不列颠群岛的一部分，很多公司在那儿设立办事处。最后Steve决定听从David的建议。他给其他的主管写了一份报告，以使他们明白这一变化。如果他们同意，他的公司将在泽西设立一个新的办事处。

1. International companies use offshore accounting. T 2. Steve knows a lot about offshore accounting. F 3. Companies in Jersey pay low tax. T 4. Steve’s company is based in Jersey. F

5. David dissuades Steve from using offshore banking. F 6. The directors write a report to Steve. F

Integration with suppliers

Franco has to buy good wine for his restaurant even though it is very expensive in London compared to Italy. He also buys a lot of Italian olive oil wherever it is sold cheaply. If wine and olive oil imported directly from Italy, he could save money.

In Sicily, his uncle has an olive oil business, and his cousin has a winemaking business. They persuade his to invest money in their business. In exchange they promise to supply regularly wine and olive oil to his restaurant. Franco will save time and money this way. His running costs will be

reduced.

They agree to consolidate their businesses. Franco’s uncle and cousin get a stable demand for their olive oil and wine, and Franco gets a stable supply. After their businesses are integrated, they will no longer worry about fluctuating price in the markets. Market uncertainty is reduced. 即使相比意大利的价格，伦敦的葡萄酒要贵得多，Franco也不得不为自己的餐馆购买好的葡萄酒。他也会在价格便宜的地方买很多橄榄油。如果葡萄酒和橄榄油直接从意大利进口，他能节省开销。 在西西里，他的舅舅从事橄榄油生意，他的表兄弟进行着红酒生产业务。他们劝说Franco 对他们的生意进行投资。作为交换，他们许诺向他的餐馆定期供应葡萄酒和橄榄油。用这种方式，Franco将节约时间和钱。他的运作成本将会降低。 他们同意联合创业。Franco的舅舅和表兄弟在橄榄油和红酒上的供应稳定，Franco的需求也很稳定。在他们的业务整合后，他们将不再担心市场价格的波动。市场的不确定性会降低。 1. Wine is _cheaper_ in Italy than in London.

2. Franco _usually_ buys olive and wine in London. 3. Franco’s restaurant uses _much_ olive oil.

4. Franco’s cousin wants some _money_ for his business. 5. Restaurant running costs include _buying_ food and wine. 6. Usually prices go up and _down_ all the time.

Unit 12

Long-term or short-term investments?

Xiaoyan wants to sell her shares in the bank. She could earn more profit in other companies. Steve is worried, and wants to dissuade her from selling. High-yield stocks are good in the short term. If she invests next year in high-yield stocks, then she must follow the market closely. This takes a lot of time every day. The shares may go down quickly. If they start to go down, Xiaoyan must sell them to save her money.

Steve thinks a steady return on her investment may be better in the long term. If the yield is higher than inflation, then there is no problem. Steve recommends keeping her shares where they are.

Both of them have some cash in their bank accounts. So they decide to invest a little of this in some high-yield speculative shares as a hobby. They want to see how much profit they can each make in a year. Their long-term pension plans are then safe, and they can maybe make some extra money on the short-term investments.

晓燕想要把她在银行的股份卖掉。她可以在其他公司获得更多的利润。Steve很担心，他想阻止她卖股份。高收益的股票对短期投资来说很有利。如果第二年她投资高收益的股票，她必须要密切关注股市行情。这就需要每天花大量的时间。股票可能会快速地下降。如果股票开始下行，晓燕必须卖出股票来保值。

Steve认为从长远来看有一个稳定的投资回报会更好。如果收益高于通胀，就没有任何问题。Steve建议她把股票放在那里别动。

他们两个的银行账户都有一些现金。所以他们决定投资一小部分在高收益的风险性股票上，权当爱好。他们想看看一年后没人能赚多少利润。他们的长期退休金计划很安全，同时他们可以在短期投资上获得额外的利润。

1. Some bank shares are owned by Xiaoyan. T 2. Xiaoyan wants to buy new shares. T

3. 4. 5. 6.

Some other shares can give more profit. T High-yield shares can give a steady return. F Low-risk shares are not good in the long term. F Pension plans are usually long-term plans. T

Planning for a pension

Xiaoyan is reviewing her financial situation and has asked the bank’s accountants for advice. She has a monthly salary, and some shares in the bank. Although a small pension will be paid by her bank, it will not be enough to live on comfortably.

Xiaoyan decides to buy a life assurance policy, so that she can get more pension income when she retires. This was suggested by the accountants. She must pay in ￡100 regularly each month, and she cannot get anything back until she is 65 years old. These kinds of assurance policies may give better yields than deposit accounts. Life insurance is also included. If one dies before 65 years old, the policy pays out much more than the investment.

A life assurance can provide added security. She thinks it will be a good long-term investment. 晓燕正在回顾她的财务状况，她询问了银行会计师的建议。他每个月有工资，也有银行的一些股份。尽管她的银行会为她支付一小部分退休金，但想要生活得舒适，这是不够的。 晓燕决定买一份退休金理财产品，这样当她退休的时候可以获得更多的退休金收入。这是会计师给出的建议。她必须规律性得每个月支付100英镑，并且在65岁之前不会获得任何回报。这类担保合同可能比储蓄账户的收益更高些。人生保险也包括在内。如果某人65岁之前死亡，该合同的赔偿远高于投资回报。

1. Why did Xiaoyan ask the accountants? She was worried about her future. 2. What was suggested by some accountants? Life assurance 3. What is a life assurance policy for? Getting a pension 4. How often does she have to pay? Monthly

5. When will she get a pension? When she is 65 years old. 6. What kind of investment is life assurance? Long-term

Unit 13

A balanced portfolio will be safest

Franco works hard and is earning a lot of money. He has lent some to his uncle and cousin in Sicily, while most is kept in a long-term deposit account at the bank. However his money is not being used very efficiently. The interest paid to him by the bank is quite low. If he invested in speculative high-yield shares, the profits might be five times higher. He doesn’t know much about buying and selling shares, so he asks Steve Bracken for his advice. Steve thinks Franco could buy some shares in other companies, but he shouldn’t risk too much of his savings. Steve encourages him to build up a balanced portfolio of investments. It should have some investments in safe low-yield deposits and less in high-risk shares. Steve suggests that about twenty percent of his savings can be invested in high-risk shares. Franco努力工作赚了很多钱。他借给西西里的叔叔和堂兄一些钱，但大部分则存放在银行的定期储蓄账户中。然后他的钱没有被有效利用。银行付给他的利息很低。如果他投资于具有风险的高收益股票，利润可能要比现在高5倍以上。他不太知道股票的买卖，所以他向Steve Bracken资讯建议。Steve认为Franco 可以买一些其他公司的股份，但是他不需要为他的积蓄承担太多风险。Steve鼓励他搭配一个均衡的投资组合。这需要把一部分钱投资于安全的

低风险的储蓄存款，小部分投资于风险股票。Steve建议他将20%左右的储蓄用于高风险的股票投资。

1. Franco’s restaurant is not making a profit. F

2. Franco’s now has a long-term deposit account. T 3. His relatives in Italy have borrowed some money. T 4. There is low interest on high-yield shares. F

5. Steve suggests putting all his money into speculative investments. F

6. Steve recommends that Franco keeps 20% of his money in a deposit account. F

Speculating is fun

Xiaoyan is closely following the value of her shares. She is plotting the price every day on large chart. This is posted up on her wall. On this graph the trends can be seen more easily than in a table of numerical data. Day by day the share price is seen to go up or down a little. Over the past year, the average value was climbing steadily in line with the rate of inflation.

Some of her shares were rising in value last year, but now their price has leveled off. The price is visible as a curve with an early peak at the end of last year. For the past few months the plot looks quite flat. Xiaoyan decides that these poorly performing shares will be sold. Then her money can be put into more promising ones. She doesn’t want to lose out on higher profits. 晓燕密切关注她的股票价值走势。她每天在一张大的图表上标出价格的走势。这张图表张贴在墙上。在图表上，比数据表更简单地看出走势。一天天都能看到股票价格有些上涨或下跌。过去这一年股票的平均价值在稳步攀升，与通货膨胀保持一致。

她的一些股票价值去年在上升，但现在价值趋于平稳。作为曲线，能明显看出股票的价格走势，最初的峰值时在去年年底。过去几个月走势非常平稳。晓燕决定卖出这些表现不佳的股票。然后她就可以把钱投入增长更快的股票。她不想失去高额利润。 1. A table is written on Xiaoyan’ wall. F 2. The data are being shown as a curve. T 3. Xiaoyan watches her share price. T 4. Inflation was going up last year. T

5. Her shares are increasing a lot in value. F 6. Xiaoyan wants to sell her shares. T

Unit 14

Steve talks with Xiaoyan about her job experience

Steve has seen a job ad for an accountant at Transworld Securities. They want someone with international experience to work in their Beijing Office. He shows the ad to Xiaoyan, who is very interested. She has all the right qualifications now. She had worked for several years in Shanghai before she came to London. After that she worked in the International Accounts Department and then then International e-Banking Division. Now she has good experience in international accounting. Steve and Xiaoyan think the job would suit her, and Transworld Securities offer a good salary-more than she gets now-plus a moving allowance and housing package. Xiaoyan knows that the cost of living in Beijing is much lower than in London. She decides to write her CV and apply for the new job.

Steve看到一个环球证券公司招聘会计师的广告。这个证券公司想要为他们的北京办事处招聘一个有国际工作经验的人。他把广告给晓燕看，晓燕很感兴趣。她现在条件完全具备。在

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