英语翻译What is foreign exchange risk?Foreign exchange risk mana

英语翻译
What is foreign exchange risk?
Foreign exchange risk management begins by identifying what items and amounts a firm has exposed to risk associated with changes in exchange rates.An asset,liability,profit or expected future cash flow change,for better or for worse,its parent or home currency value.The term,exposure,used in the context of foreign exchange,means that a firm has assets,liabilities,profits or expected future cash flow streams such that the home currency value of assets,liabilities,profits or expected future cash flow change as exchange rate change.Risk arises because currency movements may alter home currency values.
In this sense,assets,liabilities and expected future cash flow streams demominated in foreign currencies are clearly exposed to foreign exchange risk.But some expected future cash flows denominated in home currency terms may also be exposed.For example,a UK company selling in its home market may sterling exchange rate will almost certainly affect the present value of the UK company's expected cash flows by strengthening or weakening its competitive position against its German rivals.
Foreign exchange exposure is usually categorized according to whether it falls into one or more of the following categories.
(1)Transaction exposure;
(2)Translation exposure;
(3)Economic exposure.
Transaction exposure arises because a payable or receivable is denominated in a foreign currency.Translation exposure arises on the consolidation of foreign currency denominated assets and liabilities in the process of preparing consolidated accounts.This concept is essentially concerned,then with what might be called accounting exposure.Economic exposure arises because the present value of a stream of expected future operating cash flows denominated in the home currency or in a foreign currency may vary due to changed exchange rates.Transaction and economic exposure are both cash flow exposures.Transaction exposure is a comparatively straight forward concept but translation and economic exposures are more complex.

什么是外汇风险?
外汇风险管理首先确定哪些项目和金额,厂商面对的风险与汇率变化有关.资产,负债,利润或预期未来现金流量的变化,是好还是坏,其父母或本国货币的价值.这个词,暴露在环境中使用的外汇,是指一个企业拥有资产,负债,利润或预期未来现金流,这样的资产,负债,损益的本国货币价值或未来现金流量预期的汇率变动改变.汇率变动风险的产生是因为本国货币价值可能会改变.
从这个意义上讲,资产,负债及预期未来现金流demominated清楚地暴露在有外汇风险外汇.但是,一些预期未来现金流量均以本国货币计算也可能暴露出来.例如,英国在其国内市场销售的公司可能英镑汇率几乎肯定会影响或削弱其通过加强其在德国的竞争对手对竞争地位的英国公司的预期现金流量的现值.
外汇风险通常是根据它是否归类到一个或多个类别的下列范围.
（1）交易风险;
（2）翻译曝光;
（3）经济风险.
交易风险的产生是由于一个或应收应付在外国currency.Translation曝光计价的外币计价的资产和负债在编制综合账目进程的巩固产生.这个概念基本上是关心,然后用可称之为会计exposure.Economic曝光时,因为未来营运的预期现金流的现值流入本国货币或外国货币计价可能会因改变汇率.交易及经济风险都是现金流量风险.交易风险是一种比较简单的概念,但翻译和经济风险更加复杂.