IVAN neTIR

hamba noma jikijela

Ngalesi sikhathi besifuna ukwenza ukubuyekeza okuncane kwamagama amabili asetshenziswa kabanzi emhlabeni wezezimali nakwezomnotho ngokusebenza kwawo okumangalisayo uma kukhulunywa imiphumela yemikhiqizo ezinkampanini nokwazi ukuthi ingabe utshalomali kuphrojekthi ethile luyasebenza, okwaziwa ngokuthi i-NPV ne-IRR. La mathuluzi amabili angakwenza uzuze imali eningi noma uhlale kude nezinketho ezimbi zenkampani.

Yini i-NPV ne-IRR

I-NPV ne-IRR yizinhlobo ezimbili zamathuluzi ezezimali kusuka ezweni lezezimali elinamandla amakhulu futhi lisinike ithuba lokuhlola inzuzo amaphrojekthi ehlukene wokutshala imali angasinika yona. Ezimweni eziningi, ukutshalwa kwemali kuphrojekthi akunikezwa njengokutshalwa kwemali kepha kunikezwa ithuba lokuqala elinye ibhizinisi ngenxa yenzuzo.

Manje, sizokwethula okuncane kwi-NPV ne-IRR, le mibono yezezimali ngokwehlukana ukuze ubone ukuthi zibalwa kanjani nokuthi iyiphi inketho engcono ngokuya ngemiphumela ofuna ukuyazi kanye amathuba ahlinzekwa yi-NPV ne-IRR.

Yini i-NPV

I-NPV noma i-Net Present ValueLeli thuluzi lezezimali laziwa njengomehluko phakathi kwemali engena enkampanini nenani elitshalwe kumkhiqizo ofanayo ukubona ukuthi ingabe ngempela ngumkhiqizo (noma iphrojekthi) onganikeza inzuzo enkampanini

I-VAN ine- isilinganiso senzalo okubizwa ngokuthi yi-cutoff rate futhi yiyo esetshenziselwa ukuzihlaziya njalo. Izinga lokusika elinikiwe linikezwa ngumuntu ozohlola iphrojekthi esetshenzisiwe futhi lokho kwenziwa ngokubambisana nabantu abazotshala imali.

Izinga lokusika le-NPV kungaba:

  • Inzalo onayo emakethe. Okwenzayo kuthatha isilinganiso senzalo sesikhathi eside esingasuswa kalula emakethe yamanje.
  • Inani ngenzuzo yenkampani. Izinga lenzalo elimakwe ngaleso sikhathi lizoya ngokuthi utshalomali luxhaswa kanjani. Lapho kwenziwa ngemali eyimali omunye umuntu ayitshale, khona-ke isilinganiso sokunquma sikhombisa izindleko zemali eyimali ebolekiwe. Uma kwenziwa ngenhlokodolobha yayo, sekukwenzile izindleko eziqondile enkampanini kepha kunikeza abaninamasheya inzuzo

Lapho isilinganiso sikhethwa ngumtshali-zimali

Lokhu kungaba yinoma isiphi isilinganiso ozikhethele sona.

Imvamisa kwenziwa nge inzuzo encane ukuthi umtshalizimali uhlose ukuba nayo futhi uzohlala engaphansi kwenani azolitshala ngalo.

Uma umtshali-zimali efuna i- isilinganiso esibonisa izindleko zamathuba, umuntu uyeka ukuthola imali yokutshala iphrojekthi ethile.

Nge-NPV ungazi uma iphrojekthi isebenza noma cha Ngaphambi kokuqala ukuyenza futhi, ngaphakathi kokukhethwa kwephrojekthi efanayo, kusivumela ukuthi sazi ukuthi iyiphi enenzuzo enkulu kunazo zonke noma iyiphi inketho enhle kakhulu kithi. Kusisiza kakhulu kuzinqubo zokuthenga, ngoba uma kwenzeka sifuna ukuthengisa, le nketho isisiza kakhulu ukwazi ukuthi yiliphi inani lemali yangempela okufanele sithengise ngalo inkampani yethu noma uma sihola kakhulu ngokugcina ibhizinisi.

Ngabe i-NPV ingasetshenziswa kanjani

Ngabe i-NPV ingasetshenziswa kanjani

Ukwazi ukusebenzisa i-NPV sinefomula eyi-NPV = BNA - Investment. I-Van sesivele siyazi ukuthi iyini futhi i-BNA iyinzuzo yenzuzo ebuyekeziwe noma ngamanye amagama, ukuhamba kwemali inkampani enakho.

Le ndlela kufanele ihlale isetshenziswa nenzuzo ebuyekeziwe futhi hhayi ngenzuzo yenzuzo yenkampani ukuze ama-akhawunti wethu angahluleki. Ukwazi ukuthi yini i- I-BNA kufanele wenze isaphulelo se-TD noma isilinganiso sesaphulelo. Lesi isilinganiso esiphansi sokubuyisa futhi saziwa ngale ndlela elandelayo.

Uma isilinganiso siphezulu kune-BNA lokhu kusho ukuthi isilinganiso asenelisekanga futhi sine-NPV engemihle. Uma i-BNA ilingana nokutshalwa kwemali, lokhu kusho ukuthi isilinganiso sihlangatsheziwe, i-NPV ilingana no-0.

Uma i-BNA iphakeme kusho ukuthi isilinganiso sihlangabeziwe futhi ngaphezu kwalokho, bakwazile ukwenza inzuzo.

Ngakho-ke ukuze siqonde ngokushesha

Lapho i- icala lokugcina, kusho ukuthi iphrojekthi inenzuzo futhi ungaqhubeka nayo. Uma kuyisimo lapho kukhona ukudonsa, iphrojekthi inenzuzo ngoba inzuzo ye-TD ifakiwe kepha kufanele uqaphele. Lapho kwenzeka icala lokuqala, iphrojekthi ayinayo inzuzo futhi kufanele ufune ezinye izinketho.

Kufanele ukhethe iphrojekthi esinikeza inzuzo eyengeziwe engcono kakhulu.

Izinzuzo ze-NPV

Enye ye izinzuzo eziphambili futhi isizathu sokuthi kungani kungenye yezindlela ezisetshenziswa kakhulu ukuthi kungenxa yokuthi ukugeleza kwemali iyonke kwenziwa ngokufana okwamanje. I-NPV noma i-Net Present Value iyakwazi ukunciphisa amanani emali akhiqizwayo noma anikelwe kuyunithi elilodwa. Ngaphezu kwalokho, izimpawu ezinhle nezimbi zingafakwa ezibalweni zokugeleza ezihambelana ne- ukungena kwemali nokuphuma kwemali ngaphandle kokuguqulwa komphumela wokugcina. Lokhu akunakwenziwa nge-IRR lapho umphumela wehluke kakhulu.

Nokho, I-NPV inephuzu elibuthakathaka futhi ukuthi isilinganiso esisetshenziselwa ukwehlisa imali singahle singazwisiseki ngokuphelele noma siphikisane nabantu abaningi.

Manje, uma kukhulunywa ngokuvumelanisa izinga lenzalo, kungenye yezindlela ezingcono kakhulu ezinokwethenjelwa okuphezulu kakhulu.

Yini i-IRR futhi isetshenziswa kanjani

Iyini i-IRR? I-IRR noma isilinganiso sangaphakathi sembuyiselo, yisilinganiso sesaphulelo esitholwe kuphrojekthi futhi esivumela ukuthi i-BNA okungenani ilingane nokutshalwa kwemali. Lapho kukhulunywa ngo-TI-IR ikhuluma nge-TD ephezulu noma iyiphi iphrojekthi engaba nayo ukuze ibonakale ifaneleka.

Ukuze uthole i-IRR ngendlela eyiyo, imininingwane ezodingeka ngosayizi wotshalo-mali kanye nokuhamba kwemali okucatshangelwayo. Noma nini lapho i-IRR izotholakala, ifomula le-NPV esikunike lona engxenyeni engenhla kufanele lisetshenziswe. Kepha ukufaka esikhundleni sezinga le-Van ngo-0 ukuze isinikeze i- isilinganiso sesaphulelonoma. Ngokungafani ne-NPV, lapho izinga liphezulu kakhulu, lisitshela ukuthi iphrojekthi ayinayo inzuzo, uma izinga liphansi, lokhu kusho ukuthi iphrojekthi inenzuzo. Izinga liphansi, iphrojekthi izuzisa kakhulu.

Ingabe lolu hlobo lwendlela luthembekile?

Kufanele wazi ukuthi ukugxekwa okuhlangabezane nale ndlela kuningi ngenxa yezinga lobunzima elinalo kubantu abaningi. Kodwa-ke, kulezi zinsuku sekuvele kwenzeka ukuhlela kumaspredishithi futhi izibalo zesayensi zanamuhla nazo ziza nale nketho efakiwe. Bakuzuzile ukuthi kungenziwa ngemizuzwana.

Le ndlela inendlela elula yokubala lapho usuvele uyazi ukuthi ungayisebenzisa kanjani futhi lokho kunikeza imiphumela esebenza kangcono, okuyi- el indlela eqondile yokuhumusha.

Noma kunjalo, ukubuyela kokusetshenziswe kakhulu nokuyinhloko, kwenziwa lapho kuphrojekthi ethile kwenzeke ukubuyisela noma ukukhokha okutholakalayo, hhayi ekuqaleni kuphela kepha ngesikhathi sokusebenziseka okufanayo, kungaba ngoba iphrojekthi iqhubekile nokulahlekelwa noma kufakwe imali entsha.

Usebenzisa nini i-VAN noma i-TIR

Usebenzisa nini i-VAN noma i-TIR

Kokubili i-NPV ne-IRR yizinkomba ezimbili ezisetshenziswa kakhulu ngochwepheshe, kepha ngalinye lalawa mathuluzi linokusetshenziswa okuthile lapho uwasebenzisa. Futhi kulula ukwazi ukuthi uyisebenzisa nini i-NPV nokuthi i-IRR nokuthi uyihlola kanjani imiphumela oyithola kuyo yomibili.

Ngakho-ke, lapha sizokushiya ngendlela ebonakalayo ukuthi uzosebenzisa nini ngayinye yazo.

Uyisebenzisa nini i-VAN

I-NPV, okungukuthi, inani lamanje lenetha, kungukuguquguquka okusetshenziswa yizinkampani eziningi ukukwazi ukuhlanganisa ukuhamba kwemali okuphelele. Lokho wukuthi, ukunciphisa wonke amanani emali akhiqizwayo noma anikelwe kumuntu oyedwa. Ngaphezu kwalokho, kuyithuluzi abalisebenzisayo ukwazi ukuthi ngabe iphrojekthi iyasebenza yini; ngamanye amagama, uma kunezinzuzo ezisuselwa kulokho okutshaliwe.

Ukwenza lokhu, basebenzisa ifomula NPV = BNA-Investment. Ngakho-ke, uma utshalomali lukhulu kune-BNA, inani elitholwe ku-NPV alilungile; futhi uma kuphambene kusho ukuthi kunenzuzo.

Ngakho-ke kufanele isetshenziswe nini? Yebo, lapho ufuna ukwazi ukuthi ingabe inzuzo yakho iyanele yini noma ulahlekelwa yini. Eqinisweni, lokhu kufanele kusetshenziswe minyaka yonke, yize empeleni izibalo zingadonswa nganoma yisiphi isikhathi sonyaka (kepha njalo kunedatha kuze kube yilelo suku).

Yini ifomula ye-NPV?

Ingabe okulandelayo:

I-NPV ingumqondo wezezimali

Kuphi:

  • I-Ft ukuhamba kwemali esikhathini ngasinye (t).
  • I0 imele utshalomali lokuqala.
  • n inombolo yezikhathi ezibaliwe.
  • k isilinganiso sezaphulelo.

Iyini i-TIR futhi yenzelwe ini?

Uma ujikela manje kwi-IRR, kufanele ukhumbule ukuthi, njengoba sikutshelile, akufani ne-NPV, angamathuluzi amabili ahluke ngokuphelele alinganisa izinto ezifanayo, kodwa awafani.

El Inani le-IRR lisetshenziselwa ukuhlola ukuthi ingabe iphrojekthi inenzuzo noma cha, kodwa akukho okunye. Ifomula esetshenzisiwe iyafana neye-NPV, kepha kulokhu i-NPV ingu-0 futhi iphuzu ukuthola isilinganiso sesaphulelo, noma utshalomali.

Ngakho-ke, uma inani eliphakeme liphuma kuleyo fomula, kusho ukuthi iphrojekthi ayizuzi kangako. Kepha uma iphansi, inenzuzo enkulu.

Isetshenziswa nini?

Futhi kufanele isetshenziswe nini? Esimweni esinjalo, Kuyisibonakaliso esihle kakhulu sokuhlola inzuzo noma cha yephrojekthi ethile. Ngamanye amagama, ikunikeza imininingwane ethile, kepha lokhu akunakuqhathaniswa nedatha yenye iphrojekthi, ikakhulukazi uma yehlukile, ngoba kunokuhlukahluka okuningi okuzayo (ngokwesibonelo, ukuthi elinye lamaphrojekthi liqala kungekudala bese lithatha off, noma okuhlala isikhathi eside ngokwengeziwe ngesikhathi).

Ngokuvamile, zombili i-NPV ne-IRR zikhomba ukuthi ngabe iphrojekthi ingenziwa noma cha, okusho ukuthi, ingabe izinzuzo zizotholakala ngayo noma cha. Alikho ithuluzi elingcono lokwenza lokhu, ngoba bobabili i-NPV ne-IRR bayaphelelisana futhi abatshalizimali babheka imiphumela yabo bobabili ngaphambi kokwenza isinqumo.

Ungazi kanjani ukuthi i-IRR yinhle

Ungazi kanjani ukuthi i-IRR yinhle

Ngemuva kwakho konke esikutshele khona, akungabazeki ukuthi inkomba engaba nesisindo esikhulu kakhulu uma kukhulunywa ngokwazi ukuthi ngabe iphrojekthi yinhle noma cha isilinganiso sangaphakathi sokubuyisa, okuyi-IRR. Kepha wazi kanjani ukuthi i-IRR yinhle noma ayikho kuphrojekthi?

Lapho uhlola leli zinga, okungukuthi, i-IRR, kuyadingeka ukuthi ubheke izinto ezimbili ezibaluleke kakhulu. Lezi izi:

  • Usayizi wotshalo-mali. Okusho ukuthi, imali ezofakwa ukwenza lo msebenzi.
  • Ukuhamba kwemali okuveziwe kwenetha. Okusho ukuthi, lokho kulinganiselwa ukuthi kungafinyelelwa.

Ukubala i-IRR yebhizinisi, kusetshenziswa ifomula efanayo ye-NPV; kepha esikhundleni sokuthola lokhu, okwenzayo ukuthola ukuthi liyini inani lesaphulelo. Ngakho-ke, ifomula le-IRR lizoba:

NPV = BNA - Investment (noma isilinganiso sesaphulelo).

Njengoba singafuni ukuthola i-NPV, kepha i-Investment, ifomula izobukeka kanjena:

0 = BNA - Ukutshalwa Kwezimali.

I-BNA kungaba ukuhamba kwemali okuphelele ngenkathi mina kuyilokho okufanele sikuxazululele.

Isibonelo, ake ucabange ukuthi unephrojekthi yeminyaka emihlanu. Utshala imali ngama-euro ayi-12 futhi, unyaka nonyaka, unemali engenayo eyi-4000 euros (ngaphandle konyaka odlule, okuyi-5000). Ngakho-ke, ifomula kungaba:

0 = 4,000 / (1 + i) 1 + 4,000 / (1 + i) 2 + 4,000 / (1 + i) 3 + 4,000 / (1 + i) 4 + 5,000 / (1 + i) 5 - 12,000

Lokhu kusinikeza umphumela wokuthi i ulingana nama-21%, okusitshela ukuthi kungumsebenzi onenzuzo, nokuthi i-IRR yinhle, uma ngabe yilokho okulindeleke ukuthi kutholakale ngempela. Khumbula ukuthi uma inani liphansi, iphrojekthi oyihlaziyayo iyoba nenzuzo enkulu.

Futhi kulapho kulindelwa khona inzuzo. Isibonelo, ake ucabange ukuthi unephrojekthi ebukeka inenzuzo enkulu futhi ihehayo. Futhi unethemba lokuthi uzothola inzuzo okungenani eyi-10% ngakho. Ngemuva kokwenza izinombolo, uyabona ukuthi iphrojekthi izokunikeza imbuyiselo engama-25%. Lokho kungaphezulu kakhulu kwalokho obukulindele, ngakho-ke kuyinto ekhangayo futhi lokho kukutshela ukuthi i-IRR yinhle.

Esikhundleni salokho, ake ucabange ukuthi esikhundleni salowo 25%, lokho i-IRR ekunika kona kungu-5%. Uma uzuze i-10, futhi ikunikeza u-5, okulindelwe kwehla kakhulu, futhi ngaphandle kokuthi ucabange ngenye indlela, leyo projekthi ibingeke ibe yinhle (futhi ibingeke ibe ne-IRR enhle) ngokuya ngotshalomali lwakho.

Ngokuvamile, ibhizinisi eliphephile, futhi elingabandakanyi izingozi, lizobika i-IRR enhle, kodwa ephansi. Ngakolunye uhlangothi, uma ubheja kumabhizinisi adinga ubungozi obuncane, inqobo nje uma usebenza ngekhanda nolwazi, ungalindela ukuthi kuzoba ne-IRR plus nokuthile futhi, ngakho-ke, kube ngcono. Isibonelo, njengamanje amaphrojekthi ezobuchwepheshe, noma lawo ahlobene nemikhakha eyinhloko (ezolimo, imfuyo nokudoba) angaba nenzuzo futhi abe lusizo.

Ngamafuphi

I-IRR noma isilinganiso sangaphakathi sokubuyisa siyinkomba ethembeke kakhulu uma kukhulunywa ngenzuzo yephrojekthi ethile. Lapho kuqhathaniswa amazinga wangaphakathi okubuyiselwa kwezinhlobo ezimbili ezahlukene zamaphrojekthi kwenziwa, umehluko ongaba khona kubukhulu bawo awunakwa.

Manje, ngemuva kokwazi konke lokhu siyamangala kulula ukuyiqonda? Ngabe sesivele siyazi ukuthi yini i- IVAN neTIR?

Kungenzeka ukuthi ekuqaleni i-VAN ne-IRR kube yimigomo emibili ekudidayo kancane kepha ukusebenza kwenkampani yakho futhi ngaphezu kwakho konke ukuze ungalahlekelwa yimali ibaluleke kakhulu, ngoba ngenxa yalokhu ungazi ukuthi nini iphrojekthi inenzuzo enkulu ongayitshala kuyo noma uma unenketho phakathi kwamaphrojekthi amaningi, ungazi ukuthi iyiphi iphrojekthi enenzuzo enkulu.

Futhi ikuvumela yazi lapho iphrojekthi ingenanzuzo uyini umehluko wokuthi uzoyeka ukuwina.

Ngakho-ke, womabili amafayili we- I-NPV ne-IRR ngamathuluzi wezezimali ahambisanayo futhi bangasinikeza imininingwane ebalulekile mayelana nezinkampani noma amaphrojekthi esizimisele ukutshala kuwona, siqiniseke ukuthi sihlala sinezinzuzo eziyi-100% kumaphrojekthi ofuna ukuwenza.

Thola ukuthi yini i-ROE noma i-Return on Equity:

I-athikili ehlobene:
Yini i-ROE?

Okuqukethwe yi-athikili kunamathela ezimisweni zethu ze izimiso zokuhlelela. Ukubika iphutha chofoza lapha.

Amazwana ayi-6, shiya okwakho

Shiya umbono wakho

Ikheli lakho le ngeke ishicilelwe. Ezidingekayo ibhalwe nge *

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  1. Ubhekele imininingwane: Miguel Ángel Gatón
  2. Inhloso yedatha: Lawula Ugaxekile, ukuphathwa kwamazwana.
  3. Ukusemthethweni: Imvume yakho
  4. Ukuxhumana kwemininingwane: Imininingwane ngeke idluliselwe kubantu besithathu ngaphandle kwesibopho esisemthethweni.
  5. Isitoreji sedatha: Idatabase ebanjwe yi-Occentus Networks (EU)
  6. Amalungelo: Nganoma yisiphi isikhathi ungakhawulela, uthole futhi ususe imininingwane yakho.

  1.   Galicia kusho

    Sawubona, bekungaba kuhle ukube ufaka amafomula nezibonelo

  2.   ULucy Gutierrez kusho

    Imininingwane enhle !!!
    Siyabonga ngokusinikeza lesi sihloko ngokuningiliziwe.

  3.   USANDRA RODAS kusho

    Ngingathanda ukuthi kube namafomula nezibonelo

  4.   PHOENIX kusho

    ULWAZI LUYAQONAKALEKA KAKHULU, UKUZE UBONE UKUTHI UTHOLA IZIBONELO ZESICELO, NGIYABONGA NGOLWAZI

  5.   ukushaqeka kuka ceverina kusho

    lokhu kuhle, ngicela ufake isibonelo esincane, ukuzivocavoca umzimba. Halala.
    ngiyabonga ngolwazi lwakho

  6.   UCesar Noguera kusho

    Sawubona, nsizwa enhle kakhulu, incazelo futhi ukuze siphumelele ngokwengeziwe kuyizibonelo ezinhle ezinamafomula futhi ngaleyo ndlela sikwazi ukusebenzisa lokho okuvezwe ngombono, ngiyabonga futhi ngiyethemba amahhovisi akho amahle.