Factor of yemalimboleko ixesha elide: indlela yokubala kunye neempawu

Inkampani okanye umbutho unalo impahla ethile. Ukuze uthenge ngayo, lufuna izibonelelo zemali. Iiplastiki hamba yakho elibolekiweyo. bonke imithombo mali kubonakala kwisixando ifomu inombolo 1 "Ibhalansi". Ubume ezinkulu kwishishini kufuna esweni rhoqo.

Umlinganiselo asethi namatyala kugcinwa ingxenye ethile. Uhlalutyo ngesakhiwo kwenza kucace ukuba iintlobo eyinkunzi ezenziwa yonke impahla yenkampani. Ukuba iimfanelo zabo akwanelanga, inkampani kwachazwa ngokuthi bangazinzi ngokwezimali. Uphononongo ezihloliweyo umlinganiselo ixesha elide yokuboleka. Inika ulwazi kwindawo engatshintshiyo kwezibonelelo zemali. Ngoko ke, le ndlela kufuneka wazi yonke umhlalutyi. On iya kuxutyushwa ngakumbi.

iimpawu ngokubanzi

Ukuze siqonde kakuhle ukuba izinga ixesha elide ukutsala imali ebolekiweyo, kufuneka uqonde ngokwalo. Amatyala ziquka imali kunye ebolekiweyo. akhawunti ezifunyanwayo, ngolu hlobo ixesha elide elifutshane-gama. Uguqulelo lwe-mali lweshishini zakutshanje bayavuka isithuba ubuncinane omnye isithuba zokusebenza.

amatyala Long-term - sazibophelela ukuba ngalo ishishini kunye nokukhula phezu kunyaka 1. Le nto balance sheet iquka ezihlawulwayo (ixesha elide) amatyala, bonds, izibophelelo ukuqasha accruals pension.

Oku kuthetha inkampani waboleka evela kwiibhanki okanye neminye imibutho. Kunye nokusetyenziswa kwemali abatyali ', kuyaqondakala, hayi ukulwa. Ngeli xesha ekuvunyelwene le nkampani kufuneka ahlawule umbolekisi yonke imali-mboleko kunye nenzala. Ngoko ke, ezi imithombo mali nako ngokuba premium.

isakhiwo

Ukuze ngokufanelekileyo ukubala umlinganiselo yemalimboleko ixesha elide kwi-balance sheet, kufuneka iqondwe ukuba ingcamango malunga amacandelo esi ukuxhaswa ngemali. Ubukhulu becala oku kubandakanya mboleko ixesha elide. Icandelo yomtyali kuthetha, neya kuhlawulwa ngokupheleleyo ekupheleni isicelo eli gama libhekisela liabilities elifutshane-term.

Kwakhona iquka izitropu. izibambiso kwetyala ekhutshwe yi iqumrhu ukwenzela ukutsala imithombo mali omtsha.

Imali ixesha elide iquka BEE. Kodwa oku kuyinyaniso kuphela xa ikhutshwa phandle ixesha elide. Xa echaza isakhiwo ikwaquka zolondolozo-mali. Oku kuzibophelela, ezidaliweyo ukususela ingeniso phambi irhafu. Zibonakala ezifana namatyala. inkampani yabo iya kuhlawula kwixesha elizayo ngohlobo ipension, abasebenzi iidipozithi, iibhonasi abasebenzi njalo njalo. D.

iimpawu eliganukejako

Factor ezikweletini ixesha elide, nto leyo umlinganiselo ezimiselwe uhlobo lomsebenzi lombutho, ukunciphisa uzinzo kwezemali yenkampani. Okukhona umbutho ugqibe ityala, kokukhona esichengeni non-lokuhlawula imali kubatyali-mali.

Ukuze umdla amatyala, ezi nkampani kufuneka isithembiso kuzo ngokoMthetho ezifanelekileyo yingisela. Umbutho engakhange isetyenziswa ngaphambili imali ebolekiweyo, kuba nomtsalane kubatyali-mali. Emva isixa esikhulu eyinkunzi equity kuqinisekisa ukubuya mali zazo kwangethuba, kwakunye nentlawulo ngokohlobo umdla.

Ukuba isakhiwo liabilities kwiphepha lomncono ukwanda kwenani imithombo abahlawulwa le mali, amathuba abatyalimali akuthethi ukuba abuyele imali kwisithuba sexesha elibekiweyo yesivumelwano. Abafuni ukutyala enjalo kwinkampani iimali zabo. Ukuze lesabelo kubo, isikhokelo inika kubo intlawulo ephezulu ngenxa yokusetyenziswa kwemali elibolekiweyo. Kulo mzekelo, inzuzo kwezoqoqosho kuncitshiswa kwishishini. Ngoko ke, umlinganiselo equity kubonisiwe isixando, balawulwa ngokuyimfuneko yi abahlaziyi.

Imfuneko yokuba inkxaso-mali lwexesha elide

Ngokufundisisa umlinganiselo ukuboleka ixesha elide, kufuneka baqonde ukubaluleka kwabo mbutho yenkampani. Ukuba usebenzisa wedwa (free) imithombo uzinzo ngemali le kwakubo uchazwa enyangweni. Nokufika ematyaleni (pay) lwesakhiwo ezinkulu eseleyo yale index uqala ukunciphisa.

Kodwa musa ukucinga ukuba inkampani, leyo isebenza kuphela ubulungisa, ngempumelelo. Sisalathisi iziphumo zemali yenzuzo net nayiphi na inkampani kaThixo umi kurhwebo kwezoqoqosho. Yena, ke, ichaphazela inzuzo. Ekubeni kukho imithombo zifizi etsala nengqiqo ngeniso net angavuka kakhulu. Njengoko ukuhla okuncinane uzinzo lwemali ukukhula inzuzo yemveliso luphawu mbutho eyiyo umsebenzi wombutho. Ngoko ke, iinkampani bafuna ukukhulisa imithombo kuhlawulwa ixesha elide.

yokubala ifomula

Ukuvavanya ukuchaneka isakhiwo nokucwangciswa eseleyo factor kusetyenziswa ukuboleka ixesha elide. Ifomula Ukubala yayo ivumela ukuba siqonde yeyiphi inxalenye lwemisebenzi yemveliso awananto imithombo yenkxaso-mali lwexesha elide. Yintoni na rech7 Ekubeni le yinxalenye yipropathi kwemali yenkampani evela kwimithombo yayo, umlinganiselo ifomula wokukhulisa ixesha elide mali iza kukhangeleka ngolu hlobo:

- Kdps = DP (DP + IC), apho DP - amatyala ixesha elide, SC - imithombo ezingokwezimali.

Le fomyula akuthethi ithathele ingqalelo mboleko zexesha elifutshane. Oku kwenza kube lula ukuba ukuvavanya isakhiwo eyinkunzi ngokwembono kokulingana kunye imali yetyala imithombo ixesha elide.

Ukubalwa esele

Ezi inombolo ifomu 1, iingxelo zemali ngokuyimfuneko kusetyenziswa xa ufuna ukubala umlinganiselo yemalimboleko ixesha elide. Inqaku phantsi inombolo 1400 kwiphepha lomncono libonisa ubungakanani liabilities ixesha elide ngomhla yobhaliso. is he taken ingqalelo izibalo. Eli nqaku libonisa inani equity 1300 zabelo '. Ngoko ke, ezi data kwakhona zithathelwe ingqalelo yi abahlaziyi.

Thathela ingqalelo intsalela data, umlinganiselo ifomula ukuboleka ixesha elide iza kukhangeleka ngolu hlobo:

- Kdps = c. 1400: (.. 1400 + 1300).

Le ndlela yokubala isebenza ezo nkampani leyo udibaniso lwamaxabiso wonke mboleko ixesha elide liphezulu kakhulu namanye amatyala kunye ukuvuthwa kwexesha kakhulu yokusebenza. Kodwa ukuba ixabiso yokugqibela mkhulu kakhulu, ekubaleni endaweni inqaku 1400 Kulungile inqaku ngo 1410.

incazelo

inkampani nganye uphonononga umlinganiselo yemalimboleko ixesha elide. Incazelo ye Isalathisi ixhomekeke kolu shishino apho inkampani esebenza. track ngokwayo apha ekuhambeni kwethuba. Isantya sokukhula kuthelekiswa zeminyaka edlulileyo ngoxa kuncitshiswa imida esebenzayo lubonisa ukunyuka inexpedient kubume liability yemalimboleko ixesha elide.

Ngoko ke, ixabiso reference lingakulungele kule ratio. Imali iyonke liabilities (yexesha elifutshane ixesha elide) mayingadluli kuma-50% ye ubume kwiphepha lomncono.

iziphumo zesicelo

Ingcaciso enikwe uhlalutyo indlela esetyenziswayo emsebenzini kwabo abahlalutyi, ulawulo yenkampani, kwakunye abatyali-mali. Factor ezikweletini ixesha elide ibonisa indlela ixhomekeke into zophando kwenkunzi semali-mboleko. Ukwanda Dynamics yayo isignali negative.

Kodwa ke, ukwenza uvavanyo olupheleleyo nkampani kufuneka asebenzise iziphumo kolu hlahlelo libambisene kunye izalathi si zokunikwa uzinzo kwezemali, kuphantse inzuzo kwinkcitho mali. Kuyanceda ukuba ukujonga yonke umfanekiso zakhiwo. Akusoloko izinga lokukhula yokubandakanyeka ixesha elide imithombo ihlawulwe of funding into embi. Ukuba umbutho ayisebenzisayo imisebenzi yayo ikomkhulu eyongezelelweyo efunyenwe bezimali, ithe noncedo lwezo zinto.

solvency

Ukuze ukufunda izinga ukuboleka ixesha elide, ixabiso standard lusekiwe ngokuthelekisa into kophando kunye nezinye iinkampani kweli candelo. Kodwa namhlanje, ezi ndlela isetyenziswa kakhulu. Unga ukuthelekisa umbutho imithombo yemali lwamashishini ehlabathini lonke.

Ekusebenzeni amazwe yamkela Financial Accounting ukuboleka kuthathwa iseti investment zexesha elide kunye elifutshane. Ukwenza kube lula ukuba ukuthelekisa iinkampani kumazwe ahlukeneyo ukuvavanya isakhiwo sheet balance Isalathisi ezisetyenziswayo EBITDA. Le ngenxa yemali yenkampani phambi irhafu, zokuthotywa nenzala. It ikuvumela ukuba ukuhlola yokuhlawula amatyala lwequmrhu.

Ukuvavanywa amatyala ixesha elide

Bala ireyithi yemalimboleko ixesha elide, umhlalutyi ekufuneka liphonononge umbutho kunye neminye imiqondiso lomncono liabilities isakhiwo. Ngokuba lo capital elongezelelweyo kuthelekiswa ne kwisalathisi EBITDA. Ngelo xesha linye athathe ingqalelo yaye utyalo-mboleko. yonke imali yetyala lahlulwe EBITDA.

Kulo mkhuba hlabathi umgangatho owamkelweyo esi salathisi - 3. Ukuba isiphumo mkhulu 4-5, kufuneka ukunciphisa isixa setyala. Kungenjalo, iinkampani kufuneka iingxaki kunye nentlawulo kwangethuba wenzala kunye nemali mboleko. Kulo mzekelo, liwa utyalo nomtsalane iinkampani uphando.

Ukuvavanywa amatyala ixesha elide kulinyathelo elibalulekileyo kuhlalutyo yemali lweshishini. Yokusebenzisa isakhiwo lomncono ikuvumela ukuba ukucwangcisa asethi enkulu kangangoko kwaye ufumane inani liphezulu yenzuzo. Kengoko akukho nto uhlala ngaphandle ingqalelo labahlalutyi kunye ingqalelo namandla, kunye nezinye indicators.