Izimali kanye nezindleko esimeningcondvo kokuhlaziywa kwamathenda ekulenzeni libe namandla

Income lenkampani kungcono kufanisa nenani okwedlulele wanezela (GVA). Kuyinto kule inkomba ibonisa nekusebenta kwebhizinisi, njengoba kuthengiswe zonke izici zokukhiqiza (umhlaba, abasebenzi, imali, ibhizinisi izimali), kanye nezomnotho bonke abahlanganyeli ukukhiqizwa: Abanikazi dolobha, abasebenzi nezithakazelo isimo. Ngokusho lezi zimiso kufanele abunjwe futhi engenayo kube inkomba yokuthi GVA e yokuthengisa.

Okwamanje, lapho ekuhloleni ukusebenza imali yebhizinisi-sibalo, priravnonny ukuba GVA, njengoba generalizing alisetshenziswa, kodwa ezingeni izimboni kanye umnotho kazwelonke iyasebenza. Nokho, kulesi sibalo GVA e yokuthengisa izimali ephawula inhlangano kanye nokungena kwezimali ngokusebenzisa izinga ukuqaliswa. Umkhuba ezimisiwe nokuhlola ukusebenza kahle kwamabhizinisi ngokuya ukukhiqizwa umthamo (izibalo okuyinto ukukhiqiza sidluliselwe amabhizinisi njengoba imisebenzi kahulumeni) imikhiqizo adayiswa alisetshenziswa njengendlela inkomba jikelele. Nokho, inkomba jikelele nekusebenta wonke umnotho kazwelonke kanye nezimboni yikho kanye ukubaluleka okwedlulele wanezela. Kule ndaba, kukhona isidingo olungokoqobo ukuze enze ulwazi inhloso ukusebenza kwamabhizinisi, izinkampani okuhlangene isitokwe, izinkampani, Holdings we izimiso olulodwa methodological ekwakhekeni izimboni ukusebenza, ngokwanele sibonakalisa zonke engenayo kanye nezindleko kwenhlangano. Enye yalezi izimiso iyona harmonization nenqubo nokuhlola ukusebenza ebhizinisini-zamaleveli ukusebenza ngaphakathi izimboni, nezinkomba lapho ekuhloleni ukusebenza ebhizinisini yokulinganisa.

notshwala Cash kokuhlaziywa izinkampani kanye nezimboni Okwamanje esetshenziswa. Linikeza izici kuphela ngokuqhathanisa ziyamaniswa nokungangeni yabo futhi yiziphethu, iziphethu ie kanye izinkomba main ngokusebenzisa kwawo. Kodwa uhlu indlela engenayo inkampani isebenzisa okwedlulele kwemali, net kwemali, izimali kanye nezindleko.

Ngokusekelwe incazelo value added, kwakheka mithandazo at esiteji ekukhiqizeni futhi isetjenziswa kule ngxenye yokugcina wesifunda kusho njengengxenye Inkomba yokuthengisa. imigomo kuso babehlanganisa kwabasebenzi izindleko, zomshwalense wezenhlalo, ukwehla, futhi inzuzo inetha. Ngakho-ke, it is the value added kumele kulinganiswa ngenzuzo, ikhono lokusungula imali. Ngakho-ke, ngokusekelwe ketshezi kwezomnotho umqondo "value added" ngokufanelekile kufanisa yona welithi "engenayo".

Kuyadingeka ukuba ukuxazulula inkinga kumiswa imigomo yemali engenayo. Ngo o uhle eziningi, kokuhlaziywa esekelwe indlela engenayo ukubaluleka elithi ungeze yiyona inzuzo net (EVA imodeli, SVA). Nokho, inzuzo net - kuphela ingxenye encane engenayo njengoba abasebenzi imali kuyinkokhelo nezintela yezenhlalakahle ukuze bomnotho - idividendi ikhokhwe kusuka inzuzo net kanye ukwehla ukuze kulungiswe amandla ukukhiqizwa isimo - izintela kanye nezimali ezivela ukuqhutshwa kanye inzuzo.

Le ndlela ekwakhekeni engenayo uma silinganisa has izinzuzo ezilandelayo:

- inkokhelo kanye nezimali ezibanjwayo kuwo, izintela kanye nezinkokhelo uhlelo of kwezimali izimali, net . Inzuzo, nabanye unikeze imali yangempela.

- ngokusebenzisa isilinganiso olunzulu engenayo kubhekelwe le nezomnotho abasebenzi, bomnotho futhi isimo;

- izinga Kunconywa imali ivumela ubuhlobo izinkomba sibonakalisa izimali langempela kanye nezindleko, kanye zemisebenzi ezingeni imikhakha kanye wonke umnotho wonkana;

- lendlela ukwakheka Inkomba engenayo ikuvumela ukusetha inani lemakethe ibhizinisi ngokuya okuqukethwe imali yayo yangempela odala value added e kwemali.

Ngakho-ke, le Kunconywa sibalo engenayo ngempela libhekene ikhono lokusungula kwemali kanye nokwenyuka capital kubonelelwe kumiswa inani lemakethe lenkampani. Lokhu kuhambelana ketshezi kwezomnotho models eziyisisekelo ukwakheka ngemali yasemakethe. Uma sichaza imali njengoba ukubaluleka okwedlulele ungeze ngokuya ukukhiqizwa, inani kungezwe kukhiqizwa, kodwa hhayi yokuthengisa, ku izidakamizwa zalo zezomnotho limelela izindleko, hhayi ukubaluleka okudalwe, uhlinzeka inflow imali. Nokho, kwabasebenzi kanye ukwehla izindleko amelela engenayo efomini cash flow esetshenziselwa kuzuze abasebenzi, abanikazi zemali yokuqhuba ibhizinisi kanye nesimo. Inani Gross ungeze ku inflow kwezimali kuyakuba izimpawu zonke engenayo kanye nezindleko, engenayo ezingeni kwamabhizinisi, le mboni kanye wonke umnotho kazwelonke.

Lokhu kuyofezwa hhayi kuphela ubuhlobo zemisebenzi yokulinganisa, kodwa bakha ukusebenza inkomba entsha - inani lemakethe ibhizinisi.