Vocabulario Inglés

Banking & finance - advanced

abstract of title (noun phrase) = A legal document that has the history of a piece of land

accommodation endorsement (noun phrase) = an additional signature on a loan application by a person who has good credit; a
bank often requires the signature before approving the loan

accretion (noun) = the increase in value of an asset

accrued income (noun phrase) = Translation is not available.
revenue which is owed but has not yet been received

adjustable rate mortgage (noun phrase) = ARM; a loan whose interest rate varies over the life of the loan

affidavit (noun) = a written, sworn statement of facts signed before an authorized official such as a
notary public

after-hours trading (noun phrase) = buying or selling stocks outside the normal operating hours of the market

after-tax basis (noun phrase) = a view of a sum of money that reflects the effects of taxation

amortization (noun) = a method of dividing a sum of money into time periods for the purposes of payment
or writing off assets

annual percentage rate (noun phrase) = APR; the actual amount of interest paid on a loan in one year

arbitrage (noun) = the quick purchase of a security in one market and sale at a higher price in another

bank run (noun phrase) = a situation in which customers of a bank, afraid that the bank will fail, rush to the
bank and take out their money

blue-sky law (noun phrase) = state regulation that is designed to protect investors from securities fraud

boiler room (noun phrase) = an office with a high-pressure atmosphere in which salespeople sell stocks and
bonds that may be worthless

boilerplate (noun) = standardized text that is common in many contracts

book value (noun phrase) = the amount of value assigned to an asset in a company's financial books, usually
the original purchase price minus depreciation;in auto insurance, the likely selling
price of a car

break-even point (noun phrase) = the number of units of a product that must be sold in order to pay for its

budgetary variance (noun phrase) = the difference between the estimated cost of something and the actual amount

capital asset (noun phrase) = any property that can be used to create more property

capital gain (noun phrase) = a profit in the sale of property

capital improvement (noun phrase) = an action which makes an asset more useful or valuable and extends the life of the

capital loss (noun phrase) = the sale of an asset at a lower price than for its purchase

carryover merchandise (noun phrase) = goods that are not sold in a selling season and are left over for the next season

cash cow (noun phrase) = a business that over a period of time continues to generate substantial profits

cash flow (noun phrase) = the amount of money that a business takes in and spends during a certain period of

cease-and-desist order (noun phrase) = a command from a court or a government agency to stop an activity

certificate of incorporation (noun phrase) = a charter that a U.S. state issues to allow a corporation to do business as a legal

certified public accountant (noun phrase) = CPA; a title granted by a U.S. state to a person who has passed the Uniform
Certified Public Accountant Examination and meets other state requirements for the
public practice of accountancy

collateral (noun) = property pledged as a guarantee of the repayment of a loan

collusion (noun) = secret cooperation between competitors, often for an illegal purpose such as raising

command economy (noun phrase) = an economic system in which the government strictly controls production and prices

commingling (noun phrase) = a situation in which a trustee or financial caretaker mixes his or her funds with the
funds of a customer or client

common stock (noun phrase) = the most usual type of company shares

conservatism concept (noun phrase) = the idea that companies should assign value to an asset by comparing the actual
price the company paid and the current market value and using the lower of the two

consolidated balance sheet (noun phrase) = a report that combines financial information for a parent company and all of its

constant dollars (noun phrase) = a measure of value over time that uses dollars linked to a specific year

consumer debt (noun phrase) = money that consumers owe

contingency fee (noun phrase) = a charge for a service that is only paid if there is a favorable outcome

controllable cost (noun phrase) = an expense that can be reduced or increased by a management decision

convertible bond (noun phrase) = a bond that can be exchanged for a predetermined number of shares of stock

corner a market (verb phrase) = buy enough of a commodity to give the buyer some control over the price of the

cost accounting (noun phrase) = the process of tracking the various costs of a product or organization

cost basis (noun phrase) = the actual price that was paid for an asset

credit rating (noun phrase) = an evaluation of a person's ability to pay for products and services bought with

credit terms (noun phrase) = a detailed description of the conditions for a loan

customs duty (noun phrase) = a tax that importers pay on goods brought into a country

cyclical fluctuation (noun phrase) = alternating periods of prosperity and recession

debt-to-equity ratio (noun phrase) = a company's liabilities divided by the value of the company's outstanding shares

deep-discount bond (noun phrase) = a bond that a company sells at 25 percent or more below its face value

deferred annuity (noun phrase) = a policy that makes periodic payments to a person after a period of time, usually
after many years

deferred tax (noun phrase) = a charge due in the future on income being earned in the present

demurrage (noun) = a charge for the late arrival of a shipment

depletion (noun) = the reduction of the value of an asset because the asset cannot be replaced

devalue (verb) = reduce the value of a currency

dilution of stock value (noun phrase) = the reduction in value of stock because of an increase in the number of shares of

direct labor cost (noun phrase) = the wages or salaries of employees

diseconomy of scale (noun phrase) = the disproportionate growth of expenses that occurs as some companies expand

disposable income (noun phrase) = money that consumers don't need for basic expenses, such as rent and food

divestiture (noun) = the selling of part of a company

durable goods (noun phrase) = products that last a long time and that people use repeatedly

equity (noun) = the net value of a property or business after subtracting any liabilities

exchange-rate fluctuations (noun phrase) = changes in the relative values of two currencies when they are compared to each

exercise a stock option (verb phrase) = buy company stock at an agreed upon price by a set date

external auditor (noun phrase) = an accountant from outside a company who examines the company's financial
books for accuracy

fixed costs (noun phrase) = expenses that do not change in proportion to the business activity of a company

futures contract (noun phrase) = an agreement to buy a commodity in the future at a price that is set at the time of
the agreement

gross income (noun phrase) = all of the revenues of a business before any taxes or expenditures are paid

gross national product (noun phrase) = GNP; the value of all the goods and services in a country during a year

hostile takeover (noun phrase) = an attempt by one company to buy another company that opposes the attempt

income tax (noun phrase) = a tax on the revenues of a person or a company

intangible asset (noun phrase) = a non-physical thing of value that a company owns

inventory turnover (noun phrase) = the rate at which supplies of goods are replaced

junk bond (noun phrase) = a bond with a high interest rate but a low credit rating

legal entity (noun phrase) = an organization, such as a corporation, that is empowered by law to do business
and own property

letter of credit (noun phrase) = a document that a financial institution issues that acts as a guarantee of payment

limited partner (noun phrase) = a business partner whose liability for the company's debts is equal to the amount he
or she has invested

liquid (adjective) = used to describe an asset that is easy to convert into cash

liquidity (noun) = the ability to convert assets into cash quickly

Ltd. (adjective) = limited; a designation used in England and some other countries to indicate that
shareholders in a company have only limited liability for the company's debts

macroeconomics (noun) = the field of study that analyzes whole economic systems

majority shareholder (noun phrase) = a person who owns more than 50 percent of the shares of a company

market capitalization (noun phrase) = a measure of the value or size of a corporation that is produced by multiplying the
current stock price by the number of outstanding shares

memorandum of understanding (noun phrase) = MOU; a legal document that outlines a plan for action for two or more parties but
lacks the legal force of a contract

microeconomics (noun) = the field of study that analyzes individual consumers, markets, and companies

mutual fund (noun phrase) = a form of investment in which investors put their money together to buy a wide
variety of securities, such as stocks and bonds

net asset value (noun phrase) = the market value of a company's assets minus all liabilities

net income (noun phrase) = the revenue that a company has after subtracting all costs and expenses

operating profit (noun phrase) = the amount that is left when a company subtracts expenses from revenues

outstanding shares (noun phrase) = company stock that is publicly owned

overdraft (noun) = taking more money from an account than the amount of money that has been

overhead (noun) = the expenses of an organization that go to maintaining its facilities, such as rent and
utility bills

prospectus (noun) = a legal document describing a company to people who are interested in investing in
the company

proxy (noun) = a document that allows one person to act for another person

return on investment (noun phrase) = ROI; the amount of profit or loss in any investment

state-controlled enterprise (noun phrase) = a business owned and operated by a government

tax credit (noun phrase) = an amount directly deducted from taxes owed

tax exempt (adjective phrase) = used to describe something that is not taxed

undercapitalized (adjective) = used to describe an organization that has insufficient funds to support it

value added tax (noun phrase) = VAT; a fee that a government charges at every stage of a product's manufacture
and distribution

variable cost (noun phrase) = an expense that changes with the level of business activity

vertically integrated (adjective phrase) = structured so that one company controls all stages of production for a product

wage-price spiral (noun phrase) = an economic situation in which wage and price increases interact to cause further
increases in both

withholding tax (noun phrase) = a sum of money that a company takes from a worker's paycheck to cover future tax
payments to the government

zero coupon bond (noun phrase) = a bond that does not pay interest, but is less expensive to buy than its face value