Key Phrases and Vocabulary

BANKING AND FINANCIAL INDUSTRY

to accept a bill banking system convertibility

account banknote (GB) - bill (US) convertible
account overdraft to bear convertible bond
actual yield bear market correspondent bank
after-hours trading bearer bill crash on the Stock Exchange
at 30 days after sight bearer bond credit
at 60 days after date bearer cheque credit card
at a discount bearer share credit opening
at a premium - above par bill for collection crossed cheque
at best blank cheque currency exposure
at closing blank endorsement current account (GB) - checking
at par bond - debenture account (US)
at sight - on demand bond certificate current account deposit
backdate - to antedate bond holder - debenture date of issue
to bank - to deposit holder debit balance
bank bond issue default interests - interests on
bank account bonus share - free share arrears
bank balance borrowing rate deposit
bank branch bounced cheque - uncovered deposit book
bank clearance cheque deposit certificate - deposit
bank counter bull market warrant
bank credit to buy back depositor
bank deposit call option - call discount rate
bank guarantee to cash a cheque dividend
bank lending rates cash against documents dividend warrant
bank loan cash market - spot market domiciled bill
bank merger cash overdraft Dow Jones index
bank rate rise cashier - teller draw a cheque
bank sector to charge an account drawer's signature
bank suretyship - bank cheque (GB) - check (US) drawer
guarantee cheque book end of month (EOM)
bank transfer collection to endorse - to back
bank transfer order collection charges to endorse a cheque
banker's draft - bank draft commodity exchange endorsement
banking confirmed irrevocable credit endorsement for collection
banking secrecy confirmed letter of credit endorser
exchange-rate fluctuations contract note exchange
exchange controls merchant bank exchange broker - stockbroker
exchange rate money laundering savings deposit
exercise an option money market to sell forward
to expire negotiable to settle a debt - to pay off a
expiry date - due date negotiable bill debt
financial market net yield settlement of a bill
fixed exchange rate official discount rate share - stock
fixed term sale official Stock Exchange list share certificate
float due to collection on deposit - on consignment share index
floating-rate loan to open an account share issue
foreign bank ordinary share (GB) - common short-term bill
foreign currency stock (US) short-term debt
foreign exchange market out-of-town cheque sight bill - bill on demand
forward market - futures to overdraw speculative bubble
market parity - at par spot exchange
future transaction - forward payable at sight stock dividend
transaction payable to bearer Stock Exchange
futures - forward contracts payment order Stock Exchange capitalisation
to grant a loan postdate Stock Exchange index
to gross yield preference share (GB) - stock market
to honour a bill preferred stock (US) stock option
hostile takeover premium deal stockbroker - stockjobber
in the red private bank to stop a cheque
interest promissory note - note of hand to stop an account
interest accrual to protest a bill subject to collection
interest rate to protest charges surcharge
investor rate suretyship - guarantee
irrevocable recipient - beneficiary take-over bid (TOB)
irrevocable letter of credit registered share to take out a loan
issue price to renew the bill town cheque
issuing bank repayment date - refund date transferable
issuing house revocable unacceptance
junk bond revocable credit unpaid - unsettled
legal interest revocable letter of credit value at market price
letter of credit right of veto safety deposit voting share
to loan box to write out a cheque
savings bank yield
 BOOKKEEPING AND FINANCIAL VOCABULARY
accelerated depreciation buildings tax deferred tax
account book business consultant - expert in depreciable assets
accounting - book-keeping commercial law depreciation
accounting criteria - to call a general meeting depreciation allowance - capital
accounting standards capital allowance
accounts payable capital goods depreciation fund - amortization
accrual capital increase fund
accrued liability - accrued capital loss double entry
expense to capitalize entry
accrued revenue - accrued cash cow product entry date
income cash flow equity tax
actual cost chairman of the board of expenditure - outflow - expense
added value directors expense centre
adjustment chart of accounts expense receipt
administrative expenses clean factoring extraordinary meeting
advances closing balance false accounting
affiliated company closing stock false factoring
allocation of the dividend company - firm fee
amortization - depreciation company merger to fill in a VAT return
to amortize - to depreciate company profitability final balance
annual general meeting consolidated statement finance
(AGM) controlling company financial leasing
to approve a balance corporate books financial management
articles of association corporate purpose financial resources
asset corporate tax financial statement
assets cost centre financing - funds
assets and liabilities cost of goods sold finished products inventories
assets side costs and revenues fiscal year - financial year
assets value credit fixed assets (GB) - capital
associated companies to credit an amount assets (US)
auditing - audit credit column - credit side fixed costs
auditors' certificate credit note fully paid-up capital
balance-sheet analysis current assets - floating assets general accounting
balance-sheet consolidation day book - journal book general partner
balance-sheet items debit and credit general partnership - ordinary
balance-sheet ratios debit column - debit side partnership
balance sheet debit note goodwill expenses - start-up
board of directors debt costs
Book Keeping loss debtor gross margin
book profit deed of association - company gross operating margin
book value statute gross operating profit
break-up value deferred expense - deferred gross profit
break even point (BEP) charge in the black
budget deferred income - deferred income tax
industrial and commercial revenue industrial accounting cost
equipment opening balance sheet semifinished goods inventories
intangible assets opening stock - opening to set up a company
interests earned
interests paid
inventories - stock
inventory
inventory accounting -
stock accounting
inventory book
inventory records - stock
records
inventory turnover index
inventory value
investment
invoicing - billing
land and buildings
legal reserve
liabilities
liabilities side
limited liability company
limited partner - sleeping
partner
limited partnership
liquid assets
liquidity
long-term financing
loss
loss on credits
major shareholder
majority interest
majority shareholder
to make a list of inventory
to manage a company
management buy-out
memorandum of
association
minority interest
minutes of a meeting
net assets
net margin
net profit
non-taxable income
on first call
one-man business
inventory
operating loss
operating profit
ordinary partnership
outstanding credits
overhead costs - overheads
owner's equity
owner
partner - shareholder
patent
periodical report
personnel costs
plant and equipment
plant and machinery
post a contra-entry
pre-tax profit
production costs
production value
professional accountant
profit and loss account (GB) -
income statement (US)
profit distribution
provision
provision for doubtful accounts
proxy vote
to put into liquidation
quorum
to quote a company
raw materials inventories
real estate
records
registered office
reserve fund - reserve
return on investment (ROI)
revenue - earnings - incomes
revenue tax
revenues and expenses
rounding down
rounding up
running costs - operating costs
share capital (GB) - capital
stock (US)
shareholders' calling
shareholders' meeting
shareholders register
stamp duty
state-controlled enterprise
statement of account - account
statement
statutory balance
stocks and work in progress
(GB) - inventories (US)
subscribed capital -
underwritten capital
subsidiary
subsidiary company - controlled
company
substitutive tax
take-over
tax
tax accounting
tax assessment
tax audit - tax inspection
tax base
tax credit
tax exemption - tax allowance
tax payer
tax rate
tax register
tax return - income tax return
tax revenue
taxable value - assessment
taxation
taxes and dues
temporary balance
total current assets
trial balance
value added tax (VAT)
variable costs
VAT return - VAT declaration
to veto withholding tax
year-end inventory
 SALES AND ACQUISITIONS
actual price commission - fee to export
agency contract company store - factory exportation - export
agreed price outlet extension of payment
all-in price competitive price factory price
allowance - reduction complaints department faulty goods
amount - sum complimentary - free first choice
amount of an invoice to confirm an order to fix a price
approximate price contract of sale for sale
article - item customer - client foreign branch
as per sample customer assistance free gift - complimentary
assortment - range customer portfolio gift
assortment of sizes customer service free trial
back order - outstanding order department full price
backlog of orders cut in prices - lowering of goods
bargain prices goods in stock
to bargain over the price date of expiry (GB) - goods on consignment
batch - lot of goods expiration (US) to grant a delay of
business card (GB) - calling card (US) date of receipt payment
buy by instalments (GB) - to buy on deadline to grant a discount
the installment plan (US) defective - faulty to guarantee (GB) - to
to buy for cash to delay in delivery warrant (US)
to buy in bulk - to buy wholesale delay of payment guaranteed free of faults
to buy on credit delayed delivery illustrated catalogue
buyer - purchaser delivery immediate delivery
to cancel an order delivery charges to import
to cash - to collect delivery date import licence
cash before delivery delivery order importation - import
cash discount discount on quantity importer
cash on delivery (GB) - collect on discount price increase sales
delivery (US) discount scale intermediary - middleman
cash sale to distribute invoice - bill
cash with order drop in sales to invoice
catalogue (GB) - catalog (US) dumping price invoice price
catalogue price duty-free shop keep prices down
cheap - inexpensive to enclose lead time
claim - complaint enquiry - inquiry list price
to collect a debt to estimate loss of customers
collection everyday article low-quality
color reference ex-factory price lower prices
commercial agent exclusive agreement lump sum price
commercial invoice exclusive contract to make a delivery
commercial letter exclusive right of sale to make an estimate
market supply - market offer execution of an order market prices
maturity rate price tag seconds
to meet a deadline price/quality ratio to sell by sample
missing goods pricing to sell in bulk
to negotiate pro-forma invoice to sell off
negotiation purchase invoice to sell on commission
net price quality defect to sell out
non-returnable packing quality standards to sell wholesale - to
non delivery quotation wholesale
old stocks - oddments to raise prices selling expenses
on account receipt settlement of the invoice
on credit reduction shop - store (US)
order to refuse an order shopkeeper
order acquisition regular customer slump in prices
order approval representative office sold
order book retail price sole agency
order confirmation retail sale - retailing sole agent
order from catalogue retail trade - retailing solvency
order processing retailer - retail dealer special offer
packing charged at cost runner specified price
packing excluded sale - selling spot goods - on-the-shelf
packing included sale by sample goods
packing list sales commission steady prices
to pass an order sales department sub-agent
to pay in advance sales discount to submit an invoice
payment sales force suggested price -
payment by check sales invoice recommended price
payment by installments sales meeting supply
payment in advance sales period suspend payments
payment on account sales proposal temporary import
point of sale - sales outlet sales returns terms of payment
poor quality sales target terms of sale
price ceiling sales volume time of delivery
price decrease - price reduction salesman - seller top quality
price fluctuation sample trade practices
price list sample collection trade price
price marked up by 10% sample only - of no trial order
price range commercial value unit price
price recommended by the sampling unsold
manufacturer second-hand wholesale
price reduction second-hand items wholesale discount
second-rate wholesale price
wholesale trade
wholesaler
 ADVERTISING
advertisement - ad brochure editor
advertiser campaign briefing editorial advertising
advertising - publicity campaign evaluation editorial article
advertising agency campaign testing effective reach
advertising agent campaign turnover exhibitors' area
advertising budget caption feedback
advertising campaign cartoons follow-on campaign
advertising columns to cast follow-up campaign
advertising consultant circulation frame
advertising dealer classified gag
advertising effectiveness advertisements gatefold
advertising expenses to clip graphic designer
advertising in the yellow pages clipping agency graphics
advertising man - adman close-up headline
advertising manager column high-circulation weekly
advertising media column width magazine
advertising planner columnist high circulation
advertising poster (GB) - commercial house agency
advertising board (US) commercial break house magazine
advertising rate communication household panel
advertising support communication plan image
advertising to sales ratio comparative advertising in-store demo
announcement - press release complimentary copy in-store promotion
art director consumer acceptance informative advertising
audience consumer advertising insertion - advertisement
audience composition consumer promotion inside cover
average audience copywriter jingle
average circulation corporate advertising key-account manager
billboards (GB) - hoardings (US) corporate campaign large print run
billsticking - billposting creative department layout
bleed page creativity leaflet (GB) - folder (US)
blow-up cross advertising leit motiv
body copy - copy daily paper lettering
booklet direct advertising local advertising
brand image door-to-door advertising magazine circulation
broadcasting economy size mail advertising
market coverage press release subheading
mass advertising to promote subliminal advertising
mass communication promoter subscriber
mass media - media promotion subtitle
media buyer promotional action support campaign
media buying promotional campaign supporting promotion
media buying agency promotional costs tabloid
media department promotional support tailor-made promotion
media planner publisher target group
media planning publishing tax on advertising
media strategy radio commercial technical magazine
merchandising ratings television audience
misprint readership measurement (TAM)
mural advertising to recall test campaign
neon sign reportage testimonial
news agency sales incentive throwaway - flier
newsletter salesforce promotion tied-in advertising
number of copies script tied-in campaign
opinion leaders shop display total ratings
opinion maker shop sign trade journal
opinion poll shop window trade magazine
order card short transfer (GB) - decal (US)
outdoor sign short commercial transport advertising
pay-off sketch TV network
peak time sky-writing TV spot - commercial
periodic slide visual
pocket edition slogan visual appeal
point of purchase advertising socio-economic groups visual proposal
(POPA) to sponsor to visualize
point of sale material sponsor visualizer
popularity rating - audience sponsorship window-dresser
poster (GB) - board (US) spot window bill
posting storyboard window display
press agent strategic planning window streamer
press cutting - clippings strengthening of the zapping
press office campaign
 HUMAN RESOURCES
absentee dismissal internal regulations
absenteeism dismissal for cause to interview
absenteeism rate dismissal without notice irregular work -
accident at work - industrial early retirement discontinuous work
injury employer job - employment
applicant - candidate employment agency job application
application form employment card - working job description
to apply for a job papers job evaluation
to appoint a person employment contract - labour job satisfaction
apprenticeship contract job security
aptitude test employment for a trial period job sharing
to ask for a rise employment office junior clerk - junior
assessment of applicants employment rate employee
assistant executive cadres labor costs
back pay executive personnel labor disputes
bargaining power exit permit labor force - manpower
basic salary experienced person labor market
to be dismissed - to be fired family allowances labor mobility
to be laid off to fill a vacancy labor relations - trade-union
to be on probation - to be on freelance relations
trial full-time employment labor retraining
to be on strike full employment labor supply
to be out of work full time learning by doing - learning
business hours - office hours general strike by practice
Christmas bonus to go on strike leave
clerical work - office work gross wages and salaries letter of appointment
company bargaining - company have an accident at work lock-out
negotiation health care management training
compensation for permanent higher education - advanced managing director
disability education middle management
concealed work - moonlighting to hold a position minimum rate of pay
contractual situation holiday (GB) - vacation (US) motivation
cost of living allowance human relations - human night shift
credentials relationships occupation - employment
day shift independent unions office hours
direct labour index-linked wages office manager
disability pension indirect labour office staff - office
disciplinary measure - industrial relations (GB) - labor personnel
disciplinary sanction relations (US) on the job training
to dismiss - to fire industrial tribunal - labour outsourcing
overtime pay court to train
overtime work retirement training
part-time retirement age training period
part-time job right to strike trial period
partial disability to risk indemnity under contract
pay role clash underemployed
pay formula - retribution salaried workers - employees unemployment
diagram salary unemployment benefits
pay increase for merit salary range - wage band union dues - union
payroll - payroll ledger seasonal employment subscription
payslip seasonal workers union officer - trade unionist
pension secondary job unjustified dismissal
pension fund to secure employment unpaid leave
period of notice to select candidates unskilled labour
permanent disability senior clerk - senior employee unskilled worker
permanent job - steady job severance pay - dismissal pay vacancy - vacant position
permanent staff short-term employment wage-cost spiral
personnel - staff sick leave wage-earning workers
personnel department skilled labour wage-packet (GB) - pay
personnel requirements skilled work envelope (US)
planner skilled workers wage bargaining - pay
prevention social costs negotiations
production bonus social insurance - national wage ceiling
professional qualifications insurance wage claims
professional training social security wage dynamics
programmer sole director wage freeze
public holiday (GB) - national staff costs - personnel costs wage indexation scale
holiday (US) to strike wage pressures
purchasing manager striker welfare contributions
re-employment to take measures to work at home
redundancy payment to take one's holidays work overtime
refresher course temporary disability work sheet
relationship management temporary staff worker - blue-collar worker
remuneration the job is still vacant working day
resign (chairman) - to give top manager working hour
notice (employee) total disability workload
resignation (chairman) - notice trade-union (GB) - labor union workplace
(employee) (US) workshift
to retire

1. It's an excellent university, but the _____ are rather high.

o fares
o fees
o price
2. I made my _____ buying and selling stocks.
o fortune
o treasure
o wealthy
3. I bought this coat on sale. It was _____ $50.
o on sale
o decreased
o reduced
4. There's a small studio to _____ in James Street.
o lent
o hire
o lease
5. I haven't got enough money for lunch. Could you _____ me some?
o borrow
o let
o lend
6. How much does she _____ in her position?
o gain
o earn
o pay
7. That house is too expensive. We can't _____ it.
o allow
o afford
o pay
8. He's an excellent doctor, but he doesn't _____ too much.
o charge
o fee
o spend
9. It was a very good dinner. Can we have the _____ please?
o receipt
o bill
o note
10. Mary never carries cash with her and pays for everything by _____.
o receipt
o tip
o credit-card
11. The old couple had only a small ___ to live on.
o wage
o wealth
o pension
12. Fred didn't like the waitperson so he didn't leave a _____.
o receipt
o tip
o loan
13. They wouldn't have been able to buy their camper without a bank ____.
o borrow
o lend
o loan
14. The store won't change any merchandise without the original _____.
o receipt
o credit-card
o recipe
15. The dime is such a small _____ that everyone dislikes it.
o tip
o coin
o note
16. The apartment is not in very good condition so the _____ is low.
o rent
 o lease
o hire
17. The cd-player has a twelve month _____.
o warrant
o warranty
o receipt
18. He keeps all his money and valuables in a _____ behind this painting.
o tip
o box
o safe
19. My friend Tom made his considerable _____ selling cars.
o wealthy
o wealth
o money
20. I've just bought a new _____ policy.
o insure
o insurance
o uninsured
21. Jane saves as much money as she can and tries to never spend a dime. She is a
______.
o retired
o miser
o heir
22. My friend just inherited a lot of money and property. He is ______ to a great deal of
wealth.
o miser
o inherit
o heir
23. Jack just became the boss at the bank. He is the bank's ______.
o advisor
o manager
o client
24. My father is past 65, he is now a ______ man.
o retired
o pension
o swindler
25. Someone who keeps or checks financial records for a company is a(n) _____.
o manager
o accountant
o swindler
26. I love to go shopping often. Most shops consider me a great _____.
o manager
o customer
o heir
27. If I need money from the bank, I go to a _____ to make a withdrawal.
o teller
o lawyer
o cashier
28. If you have any problems with your insurance policy you should see your _____.
o agent
 o teller
o manager
29. People who like to buy and sell stocks are called _____.
o swindler
o investors
o heir
30. Unfortunately, I bought a piece of worthless junk from a _____ who told me it was a
masterpiece.
o swindler
o manager
o miser

READINGS

How To Resolve Discrepancies with Your Bank Account

When you balance your checkbook you may discover that you have a large
discrepancy. You may be missing money or you may discover that you have
extra money. This does happen, and it is important to address the problem
quickly. You may also find that you have withdrawals that have not been
authorized, and it is important to address those issues as well. You can also put
a stop payment on a check that has been stolen. You need to handle these
matters as quickly as you can, and in a professional manner.

Here's How:

1. First, you should gather the information that will support your claim. If
you are missing a deposit, you should find your receipt for it. It is a good
idea to hold onto the receipt until your deposit is posted online. If you
are questioning specific transactions you should highlight them on your
statement. Often you can go online and find out more about the
transaction, as well.
2. Second, it is important to address these matters in person if possible.
You can call a customer service line, but generally speaking people at the
branch are more willing to work with you. When you speak to the
person at the bank you need to be very calm. The customer service
agents and account representatives are there to help you resolve any
problems. However, if you come in very upset, they are not as likely to
go out of their way to help resolve your concerns and questions.
3. Third, you need to be patient. If there is a missing deposit or an
unauthorized transaction, it may take the bank awhile to track it down.
 Your initial meeting may simply start the research to resolve the
problem. The bank will have to go back through and see the teller’s
transactions for the day and then determine what went wrong. If you
made a deposit at the ATM, then the ATM records will need to be
accessed and analyzed.
4. Fourth, follow up with any paperwork or other steps that need to be
taken. If you have unauthorized transactions, you may need to file a
police report before the bank will do anything. Additionally, you should
close the account to prevent any future occurrences of this happening. If
you do this be sure to change all of your automatic transfers and
payment options, as well as your direct deposit.

Tips:

1. Be sure that you balance your account to your statement regularly. This
helps you to track mistakes and find the errors much quicker. Many
banks allow you to download the information straight into your money
management software and it does it automatically for you. There really
is no reason not to do it.
2. Additionally, you should keep a running total of your account. Never go
off of the balance that you receive at the ATM or on a deposit slip. It
does not including outstanding debit card transaction, and checks. If you
just assume that you have money you will likely overdraw your account.
3. If your bank continues to have discrepancies and problems, then
remember you are not trapped at your bank. You can switch banks and
find a bank that does not have any problems.

What You Need:

 Your Bank Account Statements

 Receipts of Deposits and Other Transactions
 A Copy of your Current Checkbook Ledger or Printout of Your
Transactions