cumulative interest currency (n) money which is used in a particular country hard currency (n) currency of a country with a stable economy soft currency (n) currency of a country with a weak economy current (adj) referring to the present time
current account (n) bank account from which a customer can withdraw
money at any time without giving notice of withdrawal current assets (n) assets used by a company in its day-to-day running
(materials, cask, etc.) current liabilities (n) debts which a company must repay in the short-term customer (n) person-company that buys goods customise ( v) to adapt a product for a particular customer cut-price (adj) sold at a lower price than usual cut-throat (adj) fierce, intense; cut-throat competition
cycle (n) a regularly repeated sequence; this is our normal selling
cycle — it’s always quiet after Christmas
D
damages (n) money claimed for harm done; we are claiming damages for
unfair dismissal day-to-day (adj) ordinary, happens regularly
DCF discounted cash flow
deadline (n) date by which something has to be done; There’s no time! Today’s the deadline!
deal 1. (n) a business agreement; we set up a deal with our agents 2. (n)
amount; a great deal of money 3. (v) to trade, buy and sell; he deals in gold dealer (n) person who buys and sells; a foreign exchange dealer dealership (n) right to buy and sell certain products
deal with (v) 1 to organise; I’ll deal with that order 2 to do business with;
we don’t deal with middlemen debenture (n) agreement to repay a debt with fixed interest with the company’s assets as security debit 1. (n) money which is owed; the debit column is the left-hand
column in accounts 2. (v) charge, deduct; to debit an account direct debit (n) money withdrawn automatically from a bank account for
regular payments debt (n) money owed; to get into debt; to be out of debt; to pay off a debt debtor (n) person who owes money
aged debtors (n) companies that owe money listed according to age of debt declare (v) to make an official statement; the company declared interim
profits of $20 million declaration (n) an official statement; a tax declaration
deduct (v) to subtract from the total figure; after deducting all the costs,
we actually made a loss deductible (adj) which can be deducted; tax-deductible
deduction (n) subtraction from the total figure; after deduction of tax default 1. (n) failure to meet the terms of a contract; the company is in
default on its capital repayments 2. (v) to fail to meet the terms of a contract defer (v) to put to a later date; we have deferred payment until next year
deferred payments (n) payments postponed to a later date
deficit (n) amount by which expenditure is higher than income; the
accounts show a deficit deflate (v) to reduce economic activity by cutting the money supply deflation (n) reduction in the money supply intended to cause a drop in
prices deflationary (adj) we have introduced some deflationary measures defray (v) to provide money for costs; the sponsor agreed to defray the
travel costs degearing (n) a reduction in gearing of a company delete (v) to remove from the range; the range is too wide, we’ll have to
delete some products deliver ( v) to transport goods to a customer
demand (n) 1. asking for payment; final demands were issued to all late payers 2. need for products and services at a certain price; we are having difficulty meeting demand department store (n) large store divided into sections selling different types of products
deposit (n) 1. money in a bank account (usually earning interest; we require seven days’ notice of withdrawal on this deposit account 2. money paid in advance in order to reserve a product depot (n) warehouse
depreciate (v) to reduce the value of assets in the accounts over a certain
time; we depreciate business equipment over five years depreciation (n) reduction in the value of an asset; straight line depreciation is calculated by dividing the costs of the asset by the number of years of active use deregulation (n) reducing government control over industry
depth (n) different forms in a product line
devalue (v) to reduce the value of a currency against other currencies devaluation (n) reduction in the value of a currency
differentiation (n) making sure that a product has distinguishing features direct export (n) selling direct to an overseas customer
direct mail (n) selling a product by sending information through the post direct selling (n) selling direct to a customer without going through any
middlemen directory (n) reference book containing listings; a telephone directory, a
trade directory disburse (v) to pay money disbursement (n) payment
discount 1. (n) percentage reduction in a full price 2. (v) to reduce the
full price discount rate (n) the percentage taken when a bank buys bills discounted cash flow (DCF) calculating return on investment while
taking into account present value of money quantity discount (n) discount for large quantities trade discount (n) discount to wholesaler or other middleman discretionary (adj) which can be done if you want; discretionary income
is what is left after you have made all your essential payments disinvest (v) to reduce investment by not replacing capital assets dispenser (n) machine which automatically provides food, drink and
other items display 1. (n) showing or exhibiting goods; there was a display of the
latest research at the trade fair in Frankfurt 2. ( v) to show or exhibit display advertisement (n) ad which stands out from other ads because of
typeface, border, etc.
distribute (v) to send out goods from the manufacturer to the end-user diversify (v) to extend into new business areas; although we are a
chemicals company, we diversified into publishing diversification (n) act of diversifying
divest (v) to sell assets; we divested ourselves of our South American
companies divestment (n) the selling of product lines or companies dividend (n) percentage of profits paid to shareholders documentary credit (n) a letter of credit from a bank
dog (n) term used in Boston Matrix to describe a product with low
market growth and low market share domestic (adj) referring to the home market door-to-door (adj) going from house to house; a door-to-door salesman dormant (adj) not active at the moment, sleeping; I’m sure we can
awaken some dormant accounts down-market (adj/adv) cheap, low end of the market; to go down-
market
draft (n) order for money to be paid by a bank; a banker’s draft due (adj) owed; this debt became due last week
duopoly (n) only two competitors in a market
E
earmark (v) to set aside for a special purpose; we have earmarked
$50,000 for promotion earn (v) to receive money for work
earnings (v) salaries, profits, dividends, interest received
earnings per share dividends per share shown as a percentage of the
market value of a share price/earnings ratio ratio between market price and current dividend economic (ad)) 1. provides enough money; this project doesn’t make economic sense 2. referring to state of the national economy; there is an economic crisis economical (adj) saving money; an economical car economics (n) study of macro- and microeconomics economise (v) to save money
economist (n) person who specialises in the study of economics economy (n) 1. not wasting money or resources; we need to introduce
some economies
2. (n) financial state of a country; a free market economy editing (n) correcting, modifying a text or a film
edition (n) an issue of a publication; this month’s edition has an article
about roses editorial (adj) referring to the editor; sometimes editorial publicity is
much more effective than advertising elastic (adj) can change easily; demand is very elastic — it will not bold
up if we increase the price employ (v) to use (money; return on capital employed) end-user (n) person who actually uses a product or service
endorse (v) to say that a product is good; a professor endorsed our new
drug endorsement advertising — advertising which uses famous people to
endorse products entrepreneur (n) person who starts and runs a company/business environment (n) area which surrounds a company (both physically and
commercially) equity (n) right to receive dividends on the shares you own in a company equities (n) ordinary shares
equity capital (n) amount of a company’s capital owned by the
shareholders escalate (v) to increase rapidly; prices have escalated recently
Eurobond (n) a bond issued in a currency other than that of the country it is issued in excess (n) amount which is more than permitted
excess capacity more production capacity than is needed for current
demand exchange (n) giving one thing for another; exchange control; foreign
exchange exhibit 1 (n) thing which is shown at a trade fair or show 2. (v) to display
products at a show exhibition (n) show of goods
expand (v) to get bigger; the market is expanding expansion (n) increase in size
expenditure (n) amount of money spent; capital expenditure is the
money we have spent on fixed assets expense (n) money spent; we renovated the building at great expense; the
salesman had a generous expense account expenses (n) money paid for covering extra costs; the fee did not include
travel expenses expertise (n) specialist knowledge
exposure (n) 1. publicity given to a product or company 2 total number
of audience reached by an advertisement
F
factoring (n) business of taking on other people’s debts
face-lift (n) improvement in the look of a product or a company, suggests the change is only on the surface; the company has had a corporate face-lift but nothing radical has changed facing (adj) opposite; we’d like the ad put on the facing page FIFO first in first out (inventory system)
finance 1. (n) money used by a company; Where will we get the finance
for this project?
finances (n) money available; the poor state of the company’s finances 2.
(v) to provide money for; the bank is going to finance the new building financial (adj) referring to finance; financial position
financially (adv) to do with finance; the company is financially
dependent on one shareholder financier (n) person who lends large sums of money financing (n) the process of providing money
firm (n) a business or partnership; a law firm
fiscal (adj) referring to tax; the government is using fiscal measures to
slow down the economy fad (n) a fashion, usually short-lived
family (n) group of products linked by name or packaging
feasibility study (n) investigation of a project to see if it is worth
pursuing feature (n ) 1. an article in a publication that deals with a certain subject
2. an aspect of a product, e.g. an alarm system on a car float (v) to put a company’s shares for sale on the stock exchange flotation (n) a new company flotation
floating exchange rate (n) an exchange rate which is not fixed flagship (n) the main or most successful product in a range flier (n) a promotional leaflet
foreclose (v) to force a company/person to sell assets in order to pay debts flood 1. (n) large quantity; a flood of orders 2. (v) to fill with a large
quantity; the market was flooded with cheap imitations flop (n) failure; the product was a flop
focus group (n) a small group of potential consumers who form part of a
market survey follower (n) company which follows others into a market
forecast 1. (n) an estimate of what will happen in the future 2. ( v) to
estimate what will happen format (n) layout of a page
forward (adj) in advance, to be paid later
forward buying (n) buying at today’s prices for delivery later four Ps Product, Price, Place, Promotion
fragment (v) to break into small parts; the market has fragmented since
the competition reduced prices franchise 1. (n) licence to sell under a brand name 2. (v) to give a licence
to someone franchisee (n) person who pays a royalty for a franchise franchiser (n) person who receives the royalty
fraud (n) making money by not telling the truth; he became rich through
systematic fraud fraudulent (adj) not honest
freebie (n informal) a give-away, a free promotional product freesheet (n) a newspaper for which there is no cover charge — it is
financed only by advertising freeze (n) a period when nothing changes; a price freeze
freeze out (v) to prevent other companies from entering or staying in a
market frequency ( n) how often something happens; we plan to spend more on
the ads but use them with lower frequency fund 1. (n) money set aside for a special purpose; a. pension fund 2. (v) to provide money for; we funded the company in its early days
funds (n) money available to spend; we need extra funds to pay for
research futures (n) trading in shares and commodities for delivery at a later date
G
galley (n) first proofs before a text is made into pages gap (n) a hole, an unfilled space, there’s a gap in the market
gearing (n) ratio between a company’s capital borrowed at fixed interest
and the value of its ordinary shares highly-geared (adj) having a high proportion of fixed-interest loans generic ( adj) belonging to a type or class; it’s cheaper to buy generic
products rather than branded ones going (adj) active, running; this business is a going concern gimmick (n) an attractive and clever idea; the agency thought of a
publicity gimmick giveaway (n) a free PR gift
glut (n) over-supply of a product; there is a glut of oil
gold standard (n) value of a currency in relation to the value of gold going rate (n) the market price for a product
goodwill (n) good reputation of a business — intangible asset connected
tо customer base, track record, etc. goods (n) products, items for sale gross (adj) total, with no deductions
gross margin (n) percentage difference between sales and direct cost of
sales gross profit (n) profit calculated as sales less direct cost of sales gross yield (n) profit from investment before tax deductions grow (v) to become larger; our liabilities have grown rapidly growth (n) increase in size
gutter (n) where two pages meet in the middle of a book or magazine
H
half-year (n) six months; the first half-year was disappointing half-yearly (adj) it’s time for our half-yearly meeting
hand (n) in-hand ready; cash-in-hand is kept in reserve for daily
expenses handle (v) to deal with; our bookkeeper handles all the figures hard sell (n) aggressive selling
hedge (n) protection, security; we spread the loan as a hedge against
interest rates hedging (n) investing at a fixed price for delivery later hidden (n) not declared, is not clear; there are certain hidden costs hire-purchase (n) paying for something in regular instalments historic (al) (adj) in the past
historical cost (n) the actual cost when the item was purchased
hit (v) to reach a target, we hit the target audience hold (v) to own; the chairman holds 45 per cent of the shares holder (n) person who owns something; holders of shares in the company holdings (n) group of shares; he has holdings throughout the Middle East holding company (n) company which acts only as a legal entity for
owning shares in subsidiary companies hostile (adj) unfriendly; a hostile takeover bid
hype (n) exaggerated statements in advertising; I never believe all the