BEW2
Vocabulary Units 42- 47 / 54-58 / 60-62
Vocabulary Units 42- 47 / 54-58 / 60-62
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| Sprache | Deutsch |
| Kategorie | BWL |
| Stufe | Universität |
| Erstellt / Aktualisiert | 20.10.2015 / 10.12.2017 |
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cook the books
companies that give false information in their accounts are said cook the book
overstate or understate
indicating that they are more or less that they really are.
fraud
Companies that overstate or understate particular amounts, are guilty of fraud
expectation gap
Erwartungslücke
corporate collapses
Unternehnmenszusammenbruch
accounting irregulatorities and false accounting
investors are demanding that auditors should be more strictly regulated
regulated
the authorities should supervise them more closely.
regulators
government agencies checking that the law is applied
transparency
the company's accounts should give a clear picture of its true financial situation
auditor rotation
the principle that companies schould be obliged to change their auditors regularly
conflict of interests
some say that a company's ausditors should not be allowed to do its consultancy work.
Financial Reporting Council (FRC)
Financial Reporting Council (FRC)
Generally Accepted Accounting Principles (GAAP)
Generally Accepted Accounting Principles (GAAP)
Financial Accounting Standards Board (FASB)
Financial Accounting Standards Board (FASB)
International Accounting Standards (IAS)
International Accounting Standards (IAS)
bodies
organizations
International Organization of Securities Commissions (IOSCO)
International Organization of Securities Commissions (IOSCO)
regulatory powers
its right to control financial activities
oversight
control
Key idicators
To assess the state of a country's economy, commentators look at key indicators such as:
- the jobs market
- disposable incomes
- retail sales / consumer spending
- the property or housing market
- inflation
- financial markets
- the trade valance
- exchange rate
- government spending
the jobs market
how may people are in employment and how many are out of work or unemployed
disposable incomes
what people have available to spend after buying essentials such as food, electricity
retail sales / consumer spending
how much people are spending in tghe shops. This is related to consumer borrowing - how people have borrowed in loans, on their credit card, etc.
the property or housing market
house prices, and the price and availability of mortgages - loans to buy property.
Interrest rates decided by a country's central bank - how much it costs to borrow money
inflation
how fast prices are rising
financial markets, including the stock market for company shares
stock market = Aktienmarkt
the trade balance
how much the country is importing and exporting.
Trade surplus = more exporting than importing
trade gap = more importing than exporting
exchange rate
the value of a country's currency (Währung)
government spending
the amount that the government is paying for everthing that it provides.
budget surplus = takes more taxes than it spends
budget deficit = takes less taxes than it spends
Economic growth
is when a country's economic activity increases
when the economy recovers from a trough
recovers = Rückgewinn / Erholung
trough = its lowest point
trere is a period of recovery when growth starts to pick up
pick up = speed up
prosperity
Wohlstand
when people and companies habe money to spend and feel confidet about the future.
Expasion
these two phases (recovery and prosperity) make up a period of expasion.
peak
highest point
decline
grow more slowly
shrink
the economy may even schrink in a period of contration or contract in a slowdown before it reaches a trough or bottoms out and starts to grow again.
slowdown
get smaller
sub-prime = NINJA
When banks had lent too much money to mortgage borrowers who could not repay.
NINJA= no income no job or asset
Booming
the economy is growing fast
