英文名称：Average Annual Growth Rate 中文名称：平均年度增长率平均每年增长的幅度。The average increase in the value of an individual investment or portfolio over the period of a year. It is calculated by taking the arithmetic mean of the growth rate over two annual periods. The average annual growth rate can be calculated for any investment, but will not include any measure of the investment's overall risk, as measured by its price volatility. Just as the name says, it is the average growth rate. For example, if your portfolio grows 10% one year and 20% the next, your AAGR would be 15%. To this end, fluctuations in the portfolio's rate of return between the beginning of the first year, and the end of the year are not included in the calculations, which may lead to some measurement error. To reduce any possible measurement error, an analyst can simply take the average price at the beginning and end of the two measurement periods, and use those average prices to determine each year's return, and then the AAGR.
英文名称：Activity based Management 中文名称：以活动为基础的管理指用以活动为基础的成本计算制度改善企业的运营，指导企业有效地执行能创造价值的活动，消除和精简不能创造价值的活动，从而达到提高效率和效益的目的。Using an activity-based costing system to improve the operations of an organization. Many managers will attempt to use an activity-based costing system to identify the source of deficiencies in the system. once the deficiency is identified, the manager can then attempt to correct it to improve efficiency.
英文名称：Beginning Inventory 中文名称：期初库存指一个会计期间内，期初可供使用或出售的商品、物资或原料等存货的价值，在数量上等同于上期的期末存货，通常反映在损益表中，是计算当期销售成本的依据。The book value of goods, inputs, or materials available for use or sale at the beginning of an inventory accounting period. Beginning inventory is similar to ending inventory except that it is adjusted for any accounting discrepancies. BI is an important figure for companies because they use it to gauge new ordering requirements and to forecast future sales. Company managers can be evaluated based on their levels of beginning inventory and inventory turnover.
英文名称：Efficient Market Hypothesis 中文名称：有效市场理论／有效市场假说一种针对股票市场的理论，认为市场上的股票价格能够直接体现所有影响股票价格的因素。因而，根据市场历史数据来预测股票未来走势的技术分析是没有意义的。这一理论由尤金·法玛（Eugene Fama）于1970年深化并提出。An investment theory that states it is impossible to "beat the market" because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information. According to the EMH, stocks always trade at their fair value on stock exchanges, making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices. As such, it should be impossible to outperform the overall market through expert stock selection or market timing, and that the only way an investor can possibly obtain higher returns is by purchasing riskier investments. Although it is a cornerstone of modern financial theory, the EMH is highly controversial and often disputed. Believers argue it is pointless to search for undervalued stocks or to try to predict trends in the market through either fundamental or technical analysis.Meanwhile, while academics point to a large body of evidence in support of EMH, an equal amount of dissension also exists. For example, investors, such as Warren Buffett have consistently beaten the market over long periods of time, which by definition is impossible according to the EMH. Detractors of the EMH also point to events, such as the 1987 stock market crash when the Dow Jones Industrial Average (DJIA) fell by over 20% in a single day, as evidence that stock prices can seriously deviate from their fair values.
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