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UNIT 1: INTERNATIONAL TRADE VOCABULARY DEFINITION The condition of self-sufficiency, esp.

economic The amount by which expenditures or liabilities exceed income or assets The quantitative limits on the 3 Quota import of particular product or commodities the difference between what a 4 Balance of payment country receives and pays for its exports and imports of goods Selling goods abroad at a price 5 Dumping below that charged in the domestic market An amount, quantity, etc.., greater than needed The difference between a countrys total earnings from exports and its total expenditure on imports Trade in services (banking, insurance, tourism, and so on) Taxes charged on imports Trade in goods Direct exchanges of goods, without the use of money Any program, policy, or system of laws that seeks to provide protection for property owners, wildlife, the environment, etc. The theory proposes that all nations will raise their living standards and real income if they 1 Ban pha gia Can cn thanh toan quc t Han ngach TRANSLATION IN VIETNAMESE 1 Autarky S t lc (b la v kinh t)

Deficit

S thm hut

Surplus

S d tha, thng d

7 8 9 10

Balance of trade Invisible imports and exports Tariffs Visible trade / merchandise trade

Can cn thng mai

Thng mai dich vu Thu quan Thng mai hang hoa Hang i hang

11

Barter / counter trade

12

Protectionism

Chinh sach bao h

13

Comparative cost principle

Nguyn tc so sanh gia

specialize in the production of those goods and services in which they have the highest relative productivity. Trade theory holding that nations Mercantilism 14 should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports. Ability of a nation to produce a good more efficiently than any other nation Inability of a nation to produce a goods more efficiently than other 16 Comparative advantage nations, but an ability to produce that good more efficiently than it does any other good A national account that records transactions involving the purchase or sale of assets Complete ban on trade (imports and exports) in one or more products with a particular country Laws stipulating that a specified 19 Local content requirements amount of a goods or services be supplied by producers in the domestic market. Regulatory control or bureaucratic 20 21 Administrative delays Currency controls rules designed to impair the rapid flow of imports into a country. Restrictions on the convertibility of a currency into other currencies The industry is a beginner, as in experience or learning, novice. Renew the loan Postpone General Agreement on Tariffs and Lnh cm vn Tai khoan vn Li th so sanh Li th tuyt i Chu nghia trong thng

15

Absolute advantage

Capital account 17 18 Embargoes

22 23 24

Infant industry Rollover Reschedule GATT

Nn cng nghip non tre Gia han khoan vay Cho hoan n, gian n Hip c chung v thu va 2

2 5

Collapse

Trad to break down, come to nothing, fail

thng mai Sup

Unit 2: Banking & Unit 8: Central Banking English Provides checking accounts, savings accounts, and money market accounts that accepts time deposits The bank of government which can lend money to other banks in times of need A financial institution that deals with raising capital, financing international trade and managing corporate mergers and acquisitions A financial institution primarily engaged in offering financial services and advice to corporations and wealthy individuals on how to use their money It is both a Commercial bank and an Investment bank and participates in many kinds of banking activities It is formed by two or more central governments to promote economic development for the member countries The Finance House provides you with the ability to source Mortgages, Insurance and much more It is a financial institution, owned by its members that offers banking and other financial services, especially mortgage lending. A card which guarantees payment for goods and services purchased by the card holder, who pays back the bank or finance company at a later date It is a plastic card that provides the cardholder electronic access to his or her bank account/s at a financial institution. The funds are withdrawn directly from either the bank account or from the remaining balance on the card Vietnamese Ngn hng thng mi Ngn hng trung ng Ngn hng u t

Commercial Bank Central bank Investment Bank

Merchant bank

Ngn hng bn bun

Universal bank Supranational bank Finance house Building society

Ngn hng a nng nh ch ti chnh quc t

Cng ty ti chnh Hip hi nh

Credit card

Th tn dng

Debit card

Th ghi n

ATM card (bank card, client card, key

It is a card issued by a bank, credit Th ATM union or building society. It can be used at an ATM for deposits, 5

card, cash card)

withdrawals, account information, and other types of transactions Transactional A deposit account held at a bank or a account (checking financial institution, for the purpose account/ current of securely and quickly providing account) frequent access to funds on demand, through a variety of different channels Deposit account or A deposit account is a current time or notice account, savings account, or other account type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder Personal account An account which be used by an individual for their own needs Standing order An instruction a bank account holder gives to their bank to pay a set amount at regular intervals to another account Mortage-backed Asset-backed security that represents securities a claim on the cash flows from mortgage loans through a process Federal funds rate Portfolio Making decisions about investment management mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk against. performance Maturity Time at which a note or bond is due Clearing system System for transferring bonds and cash between buyers and sellers. Transfers of bonds are usually made by book entry transfer. Capability to allocate funds efficiently and absorb shocks as they arise Total of a country's gold holdings and convertible foregin currencies and bonds An act by which one individual empowers another individual to conduct transactions for an individual in that person's name Securities issued by government, used for raising national fund when

Ti khon giao dch

Ti khon tin gi c k hn

Ti khon c nhn Lnh tr tin t ng

Chng khon khon th chp

da

vo

Li sut lin bang ( Hoa K) Qun l danh mc u t

Thi gian o hn H thng trung gian ti chnh Tnh trng n nh v ti chnh D tr ngoi hi y quyn theo php lut

Financial stability Foreign reserve Legal mandate

Government securities

Chng khon chnh ph 6

Mortage-backed securities

necessary, usually bonds Asset-backed security that represents Chng khon a claim on the cash flows from khon th chp mortgage loans through a process

da

vo

UNIT 3: FINANCING FOREIN TRADE 1 Agree to remit payment of the invoice back to the exporter Advertising bank Acceptance Advance payment Bank that advises the letter of credit and sends the orginal 4C for the exporter In which accepts bill of exchange after period of time, upon maturity Exporters receive payment from an overseas buyer in full or in part before the goods are dispatched Who ask his bank to apply LC (the buyer) Who is benefited from letter of credit usually the seller or exporter a written, unconditional order by one party (the drawer) to another (the drawee) to pay a certain sum, either immediately (a sight bill) or on a fixed date (a term bill), for payment of goods and/or services received Document that orders a person or organization to pay a fixed sum of money on demand or on a specificed date Process through which the global banking system acts on behalf of an exporter to collect cash payment or a time draft from the importer ng chuyn thanh ton ha n n ngi xut khu Ngn hng thng bo Chp nhn thanh ton i chng t Tr trc

2 3 4

5 6 7

Applicant Benificiary Bill of exchange

Ngi khi to Ngi th hng Hi phiu

Bill of lading

Bills for collection

Hi phiu nh thu

1 0 1 1 1 2

Clean collection Collecting bank Collection

payment by bill of exchange to which Phng thc nh thu trn documents are not attached Bank that receives payment of bills for their customers account (the exporters bank) Method of payment that the exporter cannot collect the sum of money from the importer by himself. Therefore the exporter has to remit for remitting bank. A definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation Quyn kim sot hng ha To delay passing the bill to the importer The importer does not pay, although he had previously agreed to pay Document allowing someone to claim ownership of goods payment by bill of exchange to which commercial documents are attached International trade procedure in which the credit worthiness of an importer is substituted by the guaranty of a bank for a specific transaction T chi thanh ton 1 hi phiu c chp nhn khi n hn thanh ton

1 3

Confirmation

1 4 1 5 1 6 1 7 1 8 1 9

Control of the goods Defer presentation Dishonours an accepted bill upon maturity Document of title Documentary collection Documentary credit

Phng thc nh thu km chng t Tn dng chng t

2 0 2 1 2 2 2 3 2 4 2 5

Fail to accept the bill of exchange Full set of BL In accordance with the original sales contract Intermediary Invoice Issuing bank

T chi chp nhn hi phiu All the necessary shipping documents Theo hp ng mua bn gc Person or company that acts as a middleman in a transaction list of goods sold as a request for payment Buyer's or importer's bank which establishes (opens) a L/C in favor of a beneficiary, forwards it to an advising bank for delivery to the beneficiary A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct

Ha n Ngn hng pht hnh

2 6

Letter of credit

Tn dng th

amount

2 7 2 8 2 9 3 0 3 1

Maturity Maturity Open account

date when a bill of exchange is due for payment Date when a bill of exchange is due for payment Credit relationship in which the buyer pays upon the receipt of goods, or on deferred payment basis

K hn thanh ton

Phng thc ghi s

Relevant documents The documentation against acceptance of the bill (D/A)

Cc chng t lin quan An arrangement in which someone has Chp nhn thanh ton i the right to collect imported goods only chng t after they have signed an agreement at a bank to pay for the goods and have shown proof of having signed it An arrangement under which an exporter instructs the presenting bank to hand over shipping and title documents to the importer only if the importer fully pays the accompanying bill of exchange or draft Documents that give their bearer or holder the title to the goods specified therein To check the correctness of letter of credit In the incorrect condition for operation or use Failure to pay a valid (proper and legal) bill of exchange which has been duly presented for acceptance To write a bill of exchange (= document used in trade that orders payment for goods or services) To make payment for goods or services accordance with the invoice value Thanh ton ngay

3 2

The documentation against payment (D/P)

3 3 3 4 3 5 3 6 3 7 3 8 3 9 4 0

The documents of tittle to the goods To authenticate the letter of credit To be not in order To dishonour an acceptance bill upon maturity To draw a bill of exchange on sb To remit payment of the invoice Remit Undertaking

Chng t s hu hng ha Xc nhn th tn dng Khng ng th tc T chi thanh ton mt hi phiu c chp nhn khi n hn phi thanh ton Pht hnh hi phiu i n ai Chuyn tin thanh ton ha n Chuyn tin, hon li Li ha m bo

Promis or gurantee given to or by a bank

UNIT 4: Accounting and Financial statement 1. The profit and loss account = income statement = the P&L 2. Balance sheet Sumarize business activity over a period of time. It begins with total sales, then deduct all of the costs related to producing that revenue Bo co kt qu kinh doanh Report the companys financial condition on a specific date. The basic equation that has to balance is: assets = liabilities + shareholders equity Bn cn i k ton Companies need a separate record of cash receipts and cash payments Bo co lu chuyn tin t the entire amount of income before any deductions are made Doanh thu Include manufacturing costs, salaries of manual workers Gi vn hng bn Include salaries of sales and office staff, marketing costs, utility bills Include profits from investments in other companies The loss in value of a tangbile asset Khu hao ti sn c nh The loss in value of an intangbile asset Khu hao Refer to money paid to the bank for loans or received from the bank for balances Li sut Money paid to shareholders C tc Transfer to the Balance sheet, where it joins the amounts from previous years Li nhun gi li The amount owed to the business by customers Khon phi thu 10

3. Cash flow statement 4. Revenue = income = turnover = sales = the top line 5. Cost of goods sold = direct costs 6. Operating expenses = indirect costs/ overhead 7. Non- operating income 8. Depreciation 9. Amortization 10. Interest 11. dividends 12. Retained profit

13. Accounts receivable =creditors

14. Inventory 15. Current assets 16. Fixed assets 17. Intangible assets 18. Bank debt = loan capital 19. Accounts payable 20. Share capital

The value of raw materials & stock Hng tn kho Include marketable securities Ti sn ngn hn Inclde long-term financial investments Ti sn c nh Inclde patents, trademarks & goodwill Ti sn v hnh Include any overdraft N The money owed to suppliers Khon phi tr Amount raised at initial flotation on the stock market Vn ch s hu Is the recording of the value of asset, liabilities, income, and expenses in the daybooks, journals, and ledgers, in which debit and credit entries are chronologically posted to record changes in value

21. Book-keeping

Bt ton ghi s 22. Daybook Is a descriptive and diary-like record of day-today financial transactions. S nht k Is a formal and chronological record of financial transactions before their values are accounted in general ledger as debits and credits. S gc Is a record of accounts, each recorded individually with its balance. S ci Is a one sided accounting entry to maintain financial information. Bt ton ghi s n Means each is recorded in two accounts: one is debited and the other is credited Bt ton ghi s kp 11

23. Journal

24. Ledger

25. Single-entry book-keeping

26. Double-entry book-keeping

Unit 7: M&A The joining together of two or more companies Merger or organizations to form larger one Sp nhp A corporate action in which a company buys most, if not all, of the target Acquisition (take over) company's ownership stakes in order to assume control of the target firm Mua li The percentage of an industry or market's total Market share sales that is earned by a particular company over a specified time period Th phn If a business, company, country diversifies, it Diversify increases the range of goods or services it produces a dng ha A public offer to a companys stockholders to A take over bid buy their stocks at a certain price during a limited period of time. Tr gi thu mua The reduction in long-run average and Economics of scale marginal costs arising from an increase in size of an operating unit Li th kinh t theo quy m A situation in which a company tries to buy Hostile takeover/bid another company which does not want to it to be bought Phn i thu mua An investor who buys a larger number of share Corporate raider in a corporation whose assets appear to be undervalued Ngi vy hm/ t kch cng ty Private equity consists of investors and funds 12

Private equity company

that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity Cng ty vn c phn t nhn The acquisition of another company using a significant amount of borrowed money (bonds Leveraged buyout (LBO) or loans) to meet the cost of acquisition Cc nh qun l 1 cty tin hnh mua li hoc kim sot phn ln cng ty mc tiu Money paid to investment banks for work done. Ph thng bo Larger corporation or groups of companies offering a number of different products or services. Tp on Buying a company in order to sell its most Asset stripping valuable assets at a profit Vic bn ring tng ti sn ca mt doanh nghip nhm thu c li nhun Buying as many of a companys stocks as A raid possible on the stock market Mua hng lot c phiu cc cng ty Two companies making the same products combined Sp nhp theo chiu ngang A company either acquires or merges with another company in an immediately-related stage of production and distribution Sp nhp theo chiu dc A company acquires another company in an Diversification mergers entirely different sphere Sp nhp a dng ha

Advising fee

Conglomerate

Horizontal mergers

Vertical mergers

13

Unit 9: Exchange rates

14

No. 1

Terms Revaluation

Explaination in English

Vietnamese

Increasing the value of an otherwise fixed Nng gia tin t exchange rate. The use of gold as the standard value for Ban vi vang the money of a country. One exchange rate is determined by supply Ty gia tha ni and demand. A central bank buys or sells in oder to increase or decrease the value of their Can thip currency. To specify or require something, as in a Quy inh written contract or formal agreement. Another verb for fixing exchange rates C inh against something else A trader who approaches the finacial markets with the intention to make a profit by Nha u c, tich tr buying low and selling higher, not necessarily in that order. A method of exchange by which goods or services directly exchanged for other goods or Trao i hang hoa services without using a medium of exchange, such as money. A sytem in which central bank intervene at Tha ni ti gia co the intervention points. iu tit A sytem which is determined purely by Tha ni ti gia hoan supply and demand. toan A person who buy goods from any or all sources for resale to anyone and everyone for Thng nhn profit. To temporarily cease an activity already L lng commenced in progress. Try to insure against unfavorable price Phong h movements by way of futures contract Two or more states share the same ng tin chung currency. Commodity, currency, or a financial instrument used incommercial transactions between buyers and sellers as ameasure and Phng tin trao standard of value. A i distinguishingcharacteristic of money is its

Gold standard Floating exchange rate

Intervene

Stipulate

Peg

Speculator

Barter

Dirty floating exchange rate Clean floating exchange rate Dealer Merchant Suspend

10

11

12

13

Hedging

14

Single currency

15

15

Medium of exchange

16

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