英语翻译寻找百度知道中的翻译高手!超高分求跪求翻译一段英文!谢绝软件翻译的,本人用软件翻译过原文如下:是关于“物业管理”
英语翻译
寻找百度知道中的翻译高手!
超高分求跪求翻译一段英文!
谢绝软件翻译的,本人用软件翻译过
原文如下:是关于“物业管理”的,尽力的追加100分!
An Australian model for corporations with underused real estate resources.
The management of public and private corporate real estate has become the focus of attention of academics and property practitioners in recent years because of the realization that corporations have huge underused real estate resources.Corporate real estate is defined as the land and buildings owned by companies that are not primarily in the real estate business.
Many serious studies of corporate real estate assets have demonstrated that real estate represents a vast under-managed portion of corporate assets.(n1) A 1989 British survey of 800 corporations concluded that real estate represented about 30% of corporate assets(n2.) A 1991 examination of the top 500 Australian corporations indicated that 15% of their total assets are represented by land and buildings(n3.) Presumably,U.S.corporations fall within this range,and real estate comprises a significant portion of their assets as well.
Yet,the management of corporate real estate has been largely ignored by senior management.More top managers are now realizing,however,that property is a resource that can be leveraged,sold,leased,developed,or otherwise tapped for financing to improve corporate balance sheets and generate profit.
STATING THE PROBLEM
This article follows an earlier study that classified corporate real estate into six sub-types:buildings,construction in progress,land,leases,natural resources,and other.(n4) On corporate balance sheets,the categories are accounted for as follows:
* Buildings.The cost of buildings included in a company's property,plant,and equipment account.
* Construction in progress.The capitalized amount of plant and equipment,and construction that has not been completed.
* Land.The cost of land used in the production of revenue.
* Leases.The capitalized value of leases and leasehold improvements included in property,plant,and equipment.
* Natural resources.The cost of irreplaceable natural resources including mining properties,oil fields and timber lands.
* Other.Additional components of property,plant,and equipment that cannot be placed in any of the foregoing categories.
Most corporations list real estate holdings in the property,plant,and equipment part of the asset section of corporate balance sheets.They are accounted for at their historical acquisition and financing costs,a valuation that is not a true reflection of their current value.
A number of observers (n5) have indicated that various strategies can convert corporate real estate into sources of cash:the sale of excess real estate; sale and leaseback; or sale and repurchase of equally satisfactory but cheaper real estate.Not only can these activities become sources of cash flow and earnings,they can influence profits,stock prices,price earnings ratios,and dividend payouts.
Other observers assert that when most financial analysts estimate a company's earnings,they do not consider the operating or financing options inherent in its real estate,mainly because they do not have access to the necessary information.(n6)
THE AVAILABLE STRATEGIES
Companies may choose among many strategies in their decisions about corporate real estate.This article considers three of these:
* Disposition;
* Leasing; and
* Funding (financing).
Disposition