Arthur
Lv 4
Arthur 發問時間: 社會與文化語言 · 1 0 年前

商業文章(一段)英文翻中文

一直翻不順又怕誤解其意思,麻煩英文熟手協助校稿。

【 An Owner's Manual】

Accounting consequences do not influence our operating or capital-allocation decisions. When acquisition costs are similar, we much prefer to purchase $2 of earnings that is not reportable by us under standard accounting principles than to purchase $1 of earnings that is reportable. This is precisely the choice that often faces us since entire businesses (whose earnings will be fully reportable) frequently sell for double the pro-rata price of small portions (whose earnings will be largely unreportable). In aggregate and over time, we expect the unreported earnings to be fully reflected in our intrinsic business value through capital gains.

1 個解答

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  • 書揚
    Lv 5
    1 0 年前
    最佳解答

    會計結果不會影響我們經營及資金分配的決策。當購併成本相似(接近)時,在標準會計原則下,我們寧可購買不列示在帳面上的$2盈餘,而非購買列示在帳面上的$1盈餘。這正好是我們經常會面臨到的選擇,因為購買整家企業(該企業的盈餘是完全可以列示在帳面上)的價格為購買部分股權(盈餘不可以列示在帳面上)的兩倍。就長期而言,我們期望這些不可列示的盈餘可以透過長期資本利得反映在公司的內含價值(公司帳面)上。

    PS:以中文來說,實在不知道要說是兩倍還是一倍,好像都有理,但就是

    購買整家企業的價格($100)=2 × 購買部分股權的價格($50)

    這樣你或許會了解。

    參考資料: 自己
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