fallen angel floatation forward integration FSA -Financial Services Authority (UK) Financial Supervision Commission/Authority (Poland) golden share

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1 Stock Exchange (stock) market capitalization acquirer (in M&A) allotment allotment certificate asset-stripping backward integration bear investor bear market bearer share bid price black knight blue chips bondholder bourse break-even point brokerage house/services bull investor bull market business angels/angel investors buyer/holder of an option call option callable bond capital market commodity market competitive advantage continuous trading system currency swap derivatives dividend date dividend yield equity market exit strategy 1

2 fallen angel floatation forward integration FSA -Financial Services Authority (UK) Financial Supervision Commission/Authority (Poland) golden share greenmail hedge fund hedging holding/controlling stake/interest horizontal integration hostile takeover insider trading insolvent interest rate swap investment funds IPO initial public offer/offering issuing prospectus joint stock company leveraged buyout (LBO) listed/quoted company/shares listings, quotations long position M&A - mergers and acquisitions main market majority interest/stake market value of a share mezzanine financing money market mutual fund National Depository for Securities nominal/face/par value of a share/bond offer price opening price 2

3 option expiration/maturity date ordinary shares/equities/common stocks OTC (over-the-counter) market p/bv price/book value ratio p/e price/earning ratio parallel market paying out dividend pension fund portfolio management preference/privileged shares premium price fixing/price collusion primary market profitability/yield of bonds/shares public trade in securities put option puttable bond quote prices raiders registered shares retained earnings rights issue script/capitalization/bonus issue SEC Securities and Exchange Commission (USA) secondary market securities account securities broker seller/writer of an option share price/stock price short position short sale single-price quotations spread stag investor 3

4 stock market index (indexes, indices) strike price/exercise price subscription subscription/pre-emptive right sustainable synergy launch a takeover bid target company trade value tradeable/negotiable/saleable instruments treasury bill underlying instrument underwriter underwriting venture/start-up/risk capital vertical integration vetting volatility Warsaw Stock Exchange white knight Accounting rachunkowość accounting rachunek kosztów cost accounting rachunkowość zarządcza/wewnętrzna managerial / management accounting księgowość bookkeeping sprawozdawczość report keeping zasady rachunkowości accounting principles zasada wiernego obrazu a true and fair view principle główny księgowy chief accountant biegły księgowy chartered accountant, auditor sprawozdania finansowe financial statements 4

5 bilans sprawozdanie z przepływów pieniężnych rachunek wyników rachunek zysków i strat aktywa pasywa należności zobowiązania bieżące/krótkoterminowe wierzyciele (zobowiązania najpilniejsze) zaciągnięte długi ponosić koszty balance sheet cash flow statement / funds flow statement income statement / statement of income profit and loss account / profit and loss statement assets liabilities receivables, accounts receivable (Am) / debt(s), debtors (Br) current liabilities accounts payable (Am)/creditors (Br) incurred debts incur costs kapitał własny shareholders' equity (Br)/ stockholders' equity (Am) / owners' funds (Br) kapitał wpłacony majątek trwały/aktywa trwałe rzeczowe aktywa trwałe wartości niematerialne i prawne zaliczki wartość firmy majątek obrotowy, aktywa bieżące zapasy amortyzacja aktywów trwałych amortyzacja wartości niematerialnych i prawnych kapitał obrotowy wymagalny (np. o zobowiązaniach) zysk zatrzymany narosłe zobowiązania odroczony podatek dochodowy przychód koszty uzyskania przychodu zysk additional paid-in capital (Am) / share premium (Br) fixed assets tangibles / tangible assets intangibles, intangible assets/legal intangibles, competitive intangibles prepaid expenses /advances goodwill current assets inventories (Am) / stocks (Br) depreciation amortisation working capital due retained profit (Br), retained earnings (Am) accruals / accrued expenses deferred income tax revenue/income/turnover/sales/ costs of revenue/cost of sales net income / profit (Br) 5

6 koszty operacyjne/koszty ogólne winien/debet/obciążenia ma/kredyt/uznania saldo okres rozliczeniowy/operacyjny księgi rachunkowe materiały/surowce zapasy półprodukty i produkty w toku zysk operacyjny operating expenses/overheads debit credit balance operational period ledgers raw materials inventories/stocks work-in-progress/work -in-process operating profit/earnings before interest and taxes 6