Inani lamanje. Inani lamanje

Ngamagama kwezomnotho yesimanje ngokuvamile kungenzeka ukuhlangabezana eside ezifana "inani lamanje", okusho ukuthi value ibalwa ukuthi isetshenziswa uma uqhathanisa ongakhetha ezahlukene utshalomali.

Esinye sezinqumo ezibaluleke kakhulu futhi evamile esenziwe izinhlangano kwezomnotho, kuba mbuzo kokutshalwa kwezinye izinkampani. Ngokwesibonelo, unyaka ngamunye izigidi ruble izimali izitshalo noma imishini yabo ezosebenza futhi lenze imali eyengeziwe iminyaka leminyenti. Cash ukugeleza izimali esikhathini esizayo, elikwaziyo ukuletha utshalomali, ngokuvamile libhekene nokungabaza okungatheni. Futhi uma izitshalo noma ezimbonini kakade wakha futhi ungasingenisi inzuzo kulindeleke, zimali ngeke ukwazi ukuba lithengise wabahlukanisa futhi bavale isikhala utshalomali. Kulokhu, ibhizinisi ibhizinisi (zimali) ithwala ukulahlekelwa irrecoverable.

amagama

Inani lamanje ephawula lemali wamanje ngendlela efanele izimali okudingeka ukuba ayikhiphe imali esikhathini esizayo, i-analog yayo okulingana, okubangelwa ukuqaliswa utshalomali project ethize. Ngokwesibonelo, kukhona isilinganiso idiphozi ka 10%, bese kuba ngu- $ 100 kuzoletha ruble 110 ekupheleni konyaka. Ngokombono cost-ukusebenza ukuhlaziya okomnikelo $ 100 idiphozi noma iphrojekthi utshalomali ukuthi ungaletha ruble efanayo 110, inani lamanje kuyoba okufanayo.

Kukhona inkomba inzuzo yephrojekthi utshalomali - kuwumphumela sokuhlukanisa inani lamanje ngoba Imininingwane ukubaluleka ehlisiwe kokutshalwa (izindleko utshalomali).

Icacisa zibheke ukutshalwa

Ekwenzeni i-project investimenti ngaphezu konyaka owodwa, izinzuzo ukutshalwa ezinjalo ingachazwa ngokuletha ikusasa izimali wathola ngasekupheleni konyaka kuze kube usuku lokuqala kokusebenza kwalo msebenzi. Ngakho inani lamanje kunqunywa, okuyinto ukuba 'abuyele' zimali. Lesi samba Nokho kuqhathaniswa nezindleko abikezela,, kuhlola kufanele kucatshangelwe "zamakhorali" ngesimo isithakazelo nosonhlamvukazi. Lokho kuyinto yesikhathi esisodwa izinzuzo ezikhokhwa zimali ekupheleni konyaka, kodwa ibhange kungaba akhokhe inzalo njalo ngenyanga. Yingakho inani lamanje lengqikithi nge Luhlatiyo kunqunywa amafomula ezahlukene, futhi esimweni esikhungweni sezimali kufanele bacabangele idiphozi ofeleba nyangazonke kwezinhloso zenzuzo.

Esikhathini izincwadi kwezomnotho, kungatholakala ezinjalo "zezemfundo" isitatimende: inani lamanje yephrojekthi utshalomali - babutha imithombo yezimali etholwe wonke amarisidi imali kanye izindleko. senani kuyehla kube isikhathi sokuqala (ukuqala usuku investimenti project ukuqaliswa).

Lo mphumela ikhombisa ubukhulu imali ingatholakala emva zimali yephrojekthi. Ngokuvamile ukubaluleka langempela limelela inzuzo ingqikithi zimali, kodwa kulokhu akufanele kunakwe le value asalile yephrojekthi.

Inani lamanje yephrojekthi: ifomula ukubala

Ngakho, ukubala we Inkomba usebenzisa amafomula ezifana:

• NPV = INANI (CF _t / (1 + i) ^t);
• NPV = -IC + ISAMBA (CF _t / (1 + i) ^t),

lapho:

t - eminingi eyedlule
CF - inkokhelo nge-t iminyaka;
IC - etshaliwe dolobha;
i - rate isaphulelo.

Izinto isaphulelo

Inani lamanje ungenziwa kuphela ngendlela efanele uma kwenzeka ukuthi ilungelo owakhethwa lesaphulelo. Kususelwa ukubaluleka le nkomba, kungenzeka ukuthola okuza elihambisana esingashintshi kuze kufinyelelwe esikhathini lapho ukuhlaziya.

Kuphela ngenxa yokunquma ukubaluleka namarisidi kanye izindleko cash flow inani lamanje kungaba azimisele njengoba umehluko phakathi kwalezi amanani amabili. Ngenxa yalokho, le nkomba kungaba okuhle nokubi.

Ake ukugxila namagugu awo:

• value esihle kubonisa ukuthi namarisidi kwesikhathi sokukhokha ngokuya ngenani Isaphulelo ukuze idlule nezinamathiselo efanayo, futhi lokhu kuyasiza ukwandisa inani lebhizinisi;
• value negative kubonisa ukungabi khona izinga oyifunayo ukubuya, okuholela ekulahlekeni ezithile.

Ukucutshungulwa izindlela ukutshalwa

Ngokuvamile zimali ukutshala izimali zabo kule noma ukuthi iphrojekthi ucela ngokwabo embuzweni: iyini lesaphulelo kumele kusetshenziswe lapho kubalwa ibhizinisi inani lamanje? Impendulo ixhomeke ukutholakala kwezinto zokwelapha ngaphandle ukutshalwa kwemali. Ngokwesibonelo, ngezinye izikhathi esikhundleni okuhlukile ukutshalwa kwezimali, inkampani esebenzisa imithombo yayo zezimali ukuthenga ezinye izinhlobo dolobha ongaletha inzuzo enkulu. Noma amabhizinisi ozuza izibopho, okuvame ukutholakala okuqinisekisiwe inzuzo yabo siqu.

Investments ngamazinga alinganayo ingozi

Kukhona into njengokutshala izimali ngendlela "efanayo". Lokhu utshalomali, okuyinto nobungozi alinganayo. It is kusukela ithiyori kwaziwe ukuthi nengozi ku utshalomali, ayanda ezingeni engenayo, futhi ngokufanelekile, inani lamanje. Ngakho-ke, i-investimenti okunye kuphrojekthi - imali lapho kungenzeka ukuthi usayizi ofanayo nge-investimenti kuphrojekthi noma kwempahla kanye elifanayo engozini.

Ukuze ukuhlola degree of ingozi utshalomali kumelwe aqale ukuba khona khona leprojekthi, hhayi ehambisana nanoma iyiphi ingozi ekhona. Khona-ke, njengoba izindleko ithuba of imali engenayo engozini-free. Isibonelo iholo sinjalo ukuthengwa kumasheya ezindawo zikahulumeni. Lapho kubalwa okusalungiswa iminyaka eyishumi inhlangano kwezomnotho bazokwazi ukusizakala yonyaka lenzalo phezu izibopho kahulumeni efanele.

Efingqa impahla, kufanele kuphawulwe ukuthi lokhu inkomba ezingokomnotho ngempela aphumelela ekusizeni zimali ekunqumeni ukuthi ukutshala isivuno sisiningi kakhulu khona izimali ngendlela umkhakha othize.