Factor ukuhamba amafa: ifomula. ukuhlaziywa Kwezimali

Kuyinto imfihlo ukuthi ukuzinza wokusebenza kwezimali kwebhizinisi kuncike ngokuyinhloko nokubhala futhi sekufanele awushiye imali imithombo yezimali ku amafa. Yingakho i-kokuhlaziywa qualitative kudingeka sitadishe ngosizo isakhiwo impahla, kanye nemithombo lasungulwa kanye nezizathu ushintsho yabo. By the way, kabanzi, njengoba umthetho, umnyombo ezithinta isimo sezimali isakhiwo.

kokuhlaziywa kwamathenda umkhiqizo

Ekuqaleni, ngokuvumelana ibhalansi kungcono ukucacisa izindleko isamba isakhiwo impahla ngesikhathi yokubika ngosuku oluthile. Kulesi sigaba kubalulekile ukukhomba ngeziphambeko for uhlobo impahla ngayinye ngokuqhathanisa ulwazi ekuqaleni nasekupheleni sekubika. Kufanele kuqashelwe ukuthi i-ukutadishwa izinguquko isakhiwo kudingeka okwengeziwe ukubala Ingxenye ngayinye izinhlobo amafa olulodwa lwemali, evezwa balance sheet kanye ukufunda izimbangela tingucuko tekuhleleka impahla.

Isinyathelo esilandelayo

Okulandelayo, kunengqondo ukucabangela Dynamics isilinganiso izimpahla zamanje futhi okungezona wamanje, kanye ukubala ukuhamba Isici impahla. Kuyinto ifomu kunilungele okucatshangwayo ezinjalo zisekelwe izibalo idatha:

• Endabeni okwandisa izimpahla zamanje futhi ukunciphisa izimpahla esinqunyiwe e isakhiwo kungabonakala nasemkhakheni ukuthambekela of ukushesha negotiability impahla eziyinkimbinkimbi. Kulesi simo, umphumela ngokuvamile ingxenye izindlela ukukhululwa kanye ethize yesikhathi esifushane utshalomali (Yiqiniso, uma iphesenti izihloko anda ebonisiwe).
• Ukuze kahle njani impahla, udinga ukubala ukuhamba Isici impahla. Uchazwa njengokuhlakanipha okwenziwe isilinganiso ukubaluleka impahla zamanje ukuba ukubaluleka impahla. ). Ngo umkhuba, simi ngale ndlela: CIP = OA / XB (ukuhamba isici impahla). Ifomula, njengoba ungabona, ulula.

Yini enye?

Isinyathelo sokugcina esigabeni sokuqala ukubala Kmoa. Factor yokusebenza dolobha ukuhamba uvezwa njengoMahluleli isilinganiso esiphezulu zabo ukuhamba ingxenye (izimali hhayi kuphela, kodwa futhi kokutshala imali) ukuze izindleko ingqikithi OA. Okubalulekile, ukwanda okuza ngenhla kuyinto enhle kakhulu yokuqinisekisa ukusheshisa negotiability impahla isakhiwo eziyinkimbinkimbi.

ukuhamba isici afundwa izindlela simiswe ngalendlela lelandzelako: Kmoa = (DS + CDPF) / i-OA.

Kufanele kuqashelwe ukuthi ezingeni eliphansi ukuhamba OA - hhayi njalo imbangela ezimbi. Lokhu izinga ukubuya isakhiwo umkhiqizo, ngokuvamile, ikheli izinsiza khulula ukuze sandise futhi uthuthukise ukukhiqizwa.

Ukuhlaziya ukukhiqizwa ezingaba

Kuyinto imfihlo ukuthi isimo sezimali isiphi isakhiwo ngenxa imisebenzi yayo ukukhiqizwa. Yingakho kudingeka kahle ukuhlola ezingaba ukukhiqiza, okuyinto okufanele uzihlanganise ukuhlaziywa yayo:

• ezimpahleni ezingasuki phansi.
• Sebenza kuyaqhubeka.
• Impahla ngezinhloso zokukhiqiza.
• izindleko esikhokhelwa.

Okubalulekile Kuyaphawuleka ukuthi izihloko okufakiwe aqukethe amafa yangempela kuphela oyiyo. Bona elichaza isakhiwo amandla kule plan ukukhiqizwa (ukuvumela headroom futhi t. D.).

Izici Zabantu ezingaba ukukhiqiza

Ukuze ukwethula kahle ezingaba ukukhiqiza, izinkomba ezilandelayo zisetshenziselwa:

• Movement, kanye isabelo amafa ngezinhloso zokukhiqiza impahla Imininingwane.
• Movement, kanye ethize yokusebenza nesisindo inani impahla yebhizinisi.
• Factor OS bafake.
• ukwehla izinga inani eliyisilinganiso.
• Ukuba khona Dynamics, kanye share capital utshalomali, ubuhlobo babo zezimali.

okutholakele

Ukwandisa isabelo amafa ngezinhloso zokukhiqiza ekupheleni konyaka futhi ingxenye enkulu amafa ahlobene ku Imininingwane amafa isakhiwo ngokuvamile wathi mayelana Ukwenyuka okukhulu umthamo production. Kubalulekile ukwazi ukuthi lesi sibalo kufanele kube amaphesenti okungenani 50 (uma kuqhathaniswa ngesisekelo, njengoba umthetho, thatha amamethrikhi legatsha e imigomo ebhekela amazinga). I isabelo ukubaluleka ezimpahleni ezingasuki phansi kule inani izimali isakhiwo esibaliwe isilinganiso yenani asalile yesistimu yokusebenza kuya-balance sheet. izibalo okunjalo ngokuvamile ekuqaleni kanye ekupheleni kwesikhathi sokubika. Izibalo ngokuphelele, okuyinto ziyabonakala ekucubunguleni, uma kuqhathaniswa namazinga (zisebenza kuwo wonke izakhiwo kwemboni).

Ngemva kokubala Coefficient bafake (ngamanye amagama, Damping) kwakheka izici qualitative izinguquko zalo. Ukuze ukuhlola kahle ukushuba OS ukwehla izinga isicelo isilinganiso ukwehla kwesilinganiso (isilinganiso ukwehla ukuze inani izindleko yokuqala OS).

Ukuhlaziywa sokuqanjwa kanye namandla okubakhona mobile

Kususelwa ukuhlaziya isakhiwo indlela mobile (., Bheka ngenhla ukuhamba isici impahla) kuyasiza ukucabangela izinguquko ezenzeka OS Imibandela, ngemva kwalokho - esimeningcondvo izihloko ezithile. Kufaneleka ukucabangela kwezimbangela eziyinhloko izinguquko kokusebenza:

• Inzuzo (emva zonke izintela zikhokhelwa).
• Ukwehla kwentengo.
• Khulisa ezikhwameni yenkampani siqu.
• Ukukhulisa izikweletu emalini ebolekwe ngesikweletu noma aboleke imali.
• Khulisa ukuzibophezela maqondana akhawunti ekhokhwayo.

Ukwehla kokusebenza

Izizathu eziyinhloko zokunciphisa ukusebenza dolobha elandelayo izinto:

• izindleko ezithile imbozwe inzuzo esele anawo isakhiwo esithile ngaso.
• Kusisa.
• Yesikhathi eside ukutshalwa kwezimali.
• A ukwehla okukhulu akhawunti ekhokhwayo.

Kufanele kuqashelwe ukuthi uma bahlonze lezi izibalo ngokuphelele futhi wenza ukuhlolwa jikelele, kubalulekile ukubala amanani ukusetshenziswa ngempumelelo komhiaba.

I Coefficient eside ukuzimela kwezezimali

Njengoba kuphawulwe ngenhla, ukuhlola ukuthi kwakusazoba nokwanda isetshenziswa eziningi izinkomba. Factor ukuhamba impahla, ezichazwe ngenhla, uchaza isakhiwo umkhakha eqondene. Kodwa kwezomnotho, kukhona ke ezicini eziningana esetshenziswa ukuhlaziywa ukukhiqizwa. Ngakho, i-ratio ukulingana eside nezikweletu emafeni Imininingwane ibonisa isabelo zimali siqu e isamba imithombo yezimali. Okubalulekile, ukubaluleka Kunconywa kulokhu 0.8-0.9. ukuzinza isici - igama yesayensi kule isilinganiso. Ngokuhambisana Russian ezimali yokubika izinga ibalwa kanje:

(SK + ukuze) / XB = (k. 1300 Ifomu 1 + Kk. 1400 Ifomu 1) / p. 1700 Ifomu 1.

ukuhlaziywa inkomba

ukuzinza isici ngokuvamile ihlaziye ku Dynamics. Ngakho, eyandayo lingachazwa isakhiwo nokukhula kwamabhizinisi, okwandisa umthamo production, ukusebenza kahle futhi inqubo wayo ukulawula. Ngokunengqondo, ukunciphisa lokhu isilinganiso ibonisa ukwehla inzuzo, ngokulandelana, Ukwehla e isakhiwo. Kubalulekile wazi ukuthi ileveli enkulu ukukhula komnotho, inkampani ingafinyelela kuphela uma inzuzo okuholela kuthiwa reinvested (ie esishunyekiwe).

Coefficient ucabanga ukuqagela

Endabeni ka kusenesikhathi Oqala ukungezwa aze agcine nesimo esingokwezimali isakhiwo futhi kuvimbele okuvela ngongakwazi ukukhokha izikweletu, yebo, kwenzeke ukuthi luvimbele kuwa ibhizinisi. Kungenxa nokuphenya umlandu onjalo begodu isicelo isibikezelo ngesilinganiso ezikweletini. Le ndlela ibizwa ngokuvamile esetshenziswa abahlaziyi ukuhlola solvency futhi jikelele inhlalakahle inkampani.

Asho ukuthini igama elithi ucabanga? Ngokuhambisana umqondo ukubeka phambili Tribunal arbitral, leli gama lichazwa ngokuthi uhlobo nesimo esingokwezimali umboleki, lapho akanawo ukukwazi kwazo ukuhlangabezana nezidingo abakweletwayo noma kungenzeka ukukhokhela izinkokhelo saziso.

inqubo ucabanga has imigomo emibili esemqoka: ukuqedwa imali eyayiyikweleta ukuba abakweletwayo futhi ukululama ephelele, kanye nokuqinisa eminye imisebenzi yenkampani. Njengomthetho, osomnotho siholwa izindlela ezintathu ezingakusiza ukuhlonza ukunciphisa kungenzeka solvency of inhlangano engokomthetho. Phakathi kwabo, ukubala solvency isilinganiso, uqagula solvency okungu, kanye isicelo kohlelo ngemibandela uhlamvu unformatted. Lezi zindlela ukwenza kube lula ukubona ngeziphambeko kungenzeka namanje ngezigaba ekuseni, futhi ngaleyo ndlela ukusheshisa neutralization usongo. Bakha ethile ukuphathwa inkampani uhlelo ukuze avimbele esibucayi, kuhlanganise:

• Ukuqapha izimo zomnotho akhiqizwa ngendlela eqhubekayo.
• Ukuhlaziya ezinye ngeziphambeko kusukela Yiqiniso ejwayelekile imisebenzi yenkampani, kanye nokuhlolwa ngokwezinga ukuwohloka.
• Ukukhomba izinto ukuthi esilimaza isimo.
• Ukukhomba ongakhetha sokubuyiselwa wokusebenza kwezimali webhizinisi.

Kufanele kuqashelwe ukuthi omunye izimpawu eyinhloko ngongakwazi ukukhokha izikweletu kwezomnotho webhizinisi lomthetho ukwenqena okufunwayo abakweletwayo ukubulawa 'isikhathi izinyanga ezintathu kusukela ngosuku ukusebenza ezincwadini izibopho.

isiphetho

Nesimo esingokwezimali inhlangano engokomthetho okungenzeka bahlukunyezwe izici, kokubili inhloso kanye subjective. Ziyakwazi ebalulekile okufanele sicabange ngayo ukuze nisebancane ukuhlola ingozi ngongakwazi ukukhokha izikweletu. Ngakho, kuze kube nezici subjective Udinga ukufaka anti-ukushushumbisa anda ngokuhamba ukuhweba, isilinganiso ukuncishiswa "intengo-izinga", izinga eliphansi nenzuzo, ukwanda izindleko kanye ukwandisa isithiyo. izici Inhloso zibhekwa njengemikhiqizo imibiko lingaphelele noma okungaqondile, nokugcinwa yabo, ukwanda isilinganiso izikweletu emafeni ohlangothini lasebhange, abanye ukushayisana kwe-balance sheet kanye ukukhula illiquidity (siqala kancane).