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Banking and Finance

BAD DEBTS bæd dɛt

13 May 2022

Phrase

  • Are funds owing to a business which are determined to be uncollectable.
Example Sentence: If you extend credit to numerous customers, and your experience is that a certain amount of your sales on account will be uncollectable, you should probably set up a reserve for bad debts.
 

APPRAISED VALUE əˈpreɪz vælyu

12 May 2022

Phrase

  • Is the value placed on an item, product or business by an appraiser who is recognized for experience in a particular field.
Example Sentence: The appraised value of our business is much higher than we thought. One of our competitors has made enquiries about buying us out.
 

ACCOUNTS RECEIVABLE əˈkaʊnt rɪˈsivəbəl

11 May 2022

Phrase

  • This is the amount billed to customers and due from them but not yet collected.
Example Sentence: You must maintain an accounts receivable ledger account for each customer you extend credit to.
 

ACCOUNTS PAYABLE əˈkaʊnt peɪəbəl

10 May 2022

Phrase

  • Is the amount that the company has been billed but has not yet paid. This is money owed to its regular business creditors from whom it has bought goods and services.
Example Sentences: You should keep an accounts payable ledger account for each supplier.
Expenses from the cash disbursements journal are, at the end of each day, posted to the appropriate accounts payable ledger.
 

LEGAL TENDER /ligəl tɛndər/

04 May 2022

Noun

  • Legal tender is the money which can be officially used in a country.
Example Sentences: A French person tried to pay using old British pound notes. I told him they weren't legal tender any more.
 

INVISIBLE EXPORTS /ɪnˈvɪzəbəl ɪkˈspɔrt/

03 May 2022

Noun

  • Services supplied to foreign countries such as banking and other financial services are called invisible exports
Example Sentences: Invisible exports now make up more than half of the United Kingdom's GDP
 

THE GRAVY TRAIN  

28 Apr 2022

Phrase

  • The gravy train is a way of making money quickly, easily, and often dishonestly.
Example Sentences: With no end to the property boom in sight, speculators are continuing to ride the gravy train.
 

MERCHANT BANK /mɜrtʃənt bæŋk/

25 Apr 2022

Noun

  • A merchant bank is a bank involved with companies rather than with people.
Example Sentence: Agro National Bank is a merchant bank which specialises in lending to the farming industry.
 

CONSUMER PRICE INDEX  

21 Apr 2022

Noun

  • The consumer price index is a measurement of the changes in the cost of basic goods and services.
Example Sentence: Analysts were forecasting that the Consumer Price Index would register a 0.4 percent increase for July when that figure is released on Wednesday.
 

NEST EGG /nɛst ɛg/

20 Apr 2022

Noun

  • A nest egg is a sum of money that has been saved or kept for a special purpose.
Example Sentence: Regular investment of small amounts of money is an excellent way of building a nest egg.
 

JOINT-VENTURE COMPANY  

19 Apr 2022

Noun

  • A joint-venture company is a company owned by two businesses which have joined together to share risk or expertise on a specific project or group of projects.
Example Sentence: In a bid to compete in the LED market, two Taiwanese companies from the mainstream silicon semiconductor business have established a joint-venture company.
 

LOAN SHARK /loʊn ʃɑrk/

18 Apr 2022

Phrase

  • A loan shark charges very large amounts for lending money to someone.
Example Sentence: The loan shark, Gary Mills, made his money by charging a massive 25% interest a week.
 

INTEREST /ɪntərɪst/

17 Apr 2022

Noun

  • the money a bank pays you for their use of your money, or the money you pay the bank for a loan.
Example Sentence: The interest rate on her savings account was higher than that on her checking account.
 

A STATEMENT /steɪtmənt/

16 Apr 2022

Noun

  • a record of transactions that a bank sends its customers, usually every month.
Example Sentence: The bank statement always arrived on the third of the month.
 

TO ISSUE A CREDIT CARD  

15 Apr 2022

Phrase

  • to give a credit card to a customer.
Example Sentence: The bank issues three kinds of credit cards.
 
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