Sources of finance · 融资来源
| English | 中文 | Pinyin · 拼音 |
|---|---|---|
| retained profit/rɪˈteɪnd ˈprɒfɪt/ | 留存利润 | liú cún lì rùn |
| interest/ˈɪntrest/ | 利息 | lì xī |
| share issues/ʃeə ˈɪʃuːz/ | 发行股票 | fā xíng gǔ piào |
| grants/ɡrænts/ | 补助金 | bǔ zhù jīn |
| trade credit/treɪd ˈkredɪt/ | 商业信用 | shāng yè xìn yòng |
| overdrafts/ˈəʊvədræfts/ | 透支 | tòu zhī |
| mortgages/ˈmɔːɡɪdʒɪz/ | 抵押贷款 | dǐ yā dài kuǎn |
| debt/det/ | 债务 | zhài wù |
| equity/ˈekwɪti/ | 所有者权益 | suǒ yǒu zhě quán yì |
| diluted/daɪˈluːtɪd/ | 稀释 | xī shì |
Where the money comes from
- Needing finance is one thing; getting it is another. A start-up and a global plc have very different options.
- The right source depends on the amount, the purpose, and the cost.
钱从哪里来
- 需要资金是一回事;得到它是另一回事。一个初创企业和一个全球 plc 有非常不同的选择。
- 正确的来源取决于金额、目的和成本。
Sources of finance lab · 融资来源实验
Choose the best type of finance by time, risk and ownership. · 根据时间、风险和所有权选择最佳融资类型。
Which is an internal source of finance? · 以下哪项是内部融资来源？
Retained profit comes from within the business. · 留存收益来自企业内部。
Internal vs external
- Internal sources: retained profit 留存利润, selling assets, tighter working capital. No interest 利息, no loss of control.
- External sources: from outside the business — loans, share issues 发行股票, grants 补助金, trade credit 商业信用.
Sources of finance are internal or external
内部对外部
- 内部(internal)来源:留存利润、出售资产、更紧的营运资本。没有利息,没有控制权丧失。
- 外部(external)来源:来自企业之外——贷款、股票发行、补助、商业信用。
资金来源是内部的或外部的
Which is a short-term source of finance? · 以下哪项是短期融资来源？
Overdrafts and trade credit are short-term. · 透支和贸易信贷属于短期融资。
A long-term asset should be funded with a ______-term source of finance. · 长期资产应由______期资金来源资助。
Match the term of finance to the purpose. · 将融资期限与用途匹配。
Short-term vs long-term
- Short-term: overdrafts 透支, trade credit — for day-to-day cash needs.
- Long-term: bank loans, mortgages 抵押贷款, share issues — for big, lasting investments.
Banks are a key external source of finance, through loans and overdrafts
短期对长期
- 短期:透支、商业信用——用于日常现金需要。
- 长期:银行贷款、抵押贷款、股票发行——用于大的、持久的投资。
银行通过贷款和透支是一个关键的外部资金来源
A drawback of raising finance by issuing shares (equity) is that it: · 通过发行股票（股权）融资的一个缺点是它会：
Equity dilutes ownership and control, though it needs no repayment. · 股权会稀释所有权和控制权，但不需要偿还。
A bank loan (debt) must be repaid with interest, but lets owners keep control. · 银行贷款（债务）必须还本付息，但允许所有者保留控制权。
Debt keeps control but adds a repayment obligation. · 债务保持控制权，但增加了偿还义务。
Debt 债务 vs equity 所有者权益
- Debt (loans): must be repaid with interest, but the owners keep control.
- Equity (selling shares): no repayment, but ownership and control are diluted 稀释.
Match the source to the need. Funding a long-term asset with a short-term overdraft is dangerous; financing daily wages with a 20-year loan is wasteful. The source's term should fit the purpose.
债务对股权
- 债务(debt,贷款):必须连同利息偿还,但所有者保持控制。
- 股权(equity,出售股份):没有偿还,但所有权和控制权被稀释。
让来源匹配需要。 用一个短期透支为一项长期资产融资是危险的;用一个 20 年的贷款为日常工资融资是浪费的。来源的期限应该适合目的。
You've got it
- internal sources (retained profit) cost nothing extra; external sources come from outside
- short-term (overdraft, trade credit) vs long-term (loans, shares)
- debt keeps control but needs repaying; equity needs no repayment but dilutes control
你掌握了
- 内部来源(留存利润)不花额外的钱;外部来源来自外部
- 短期(透支、商业信用)对长期(贷款、股份)
- 债务保持控制但需要偿还;股权不需要偿还但稀释控制