Uyini utshalomali dolobha? Ukusebenza kahle kwezomnotho capital ukutshalwa kwezimali. Jaan e Mann kwesikhathi

ukuthuthukiswa Business kuhilela isiqondiso sasikhathi sonke sesifundo izimali Inkampani: ayikho kulezi ingasatshalaliswa ku ezihlukahlukene izinto, kuncike eziza kuqala kuchazwe ukuphathwa kanye bezimali yenkampani. ukutshalwa kwezimali ezifanele kungaba isimo dolobha. Siyoba yini ngokucacile zabo? Indlela nokuhlola ukusebenza lezi zimali ezifakiwe?

Yiziphi ukutshalwa dolobha?

Kusisa - kuyinto imali etshalwe ukwakhiwa, ukulungiswa noma ukuthengwa izinsiza ezithile ukuthi akunakubangelwa ezimpahleni ezingasuki phansi noma amafa angaphatheki. Kuye esiteji ukuthuthukiswa kwebhizinisi, lemali oqavile kohlobo oluthile ukutshalwa kwezimali zingahluka. Ngakho, lo mkhuba ovamile ubhekwa ukwenyuka kancane ukubaluleka izimali ekwakhiweni kabusha, ngokufanele, ukwehla isabelo sabo maqondana nokwakhiwa nokuthenga izimpahla fixed: lokhu kungenxa inzuzo enkulu ekulondolozeni ukusebenza kulezi kuka ukuthola noma ukudalwa amasha. Ikakhulukazi uma kuziwa amabhizinisi ezinkulu, izimpawu ukuthenga-isikhathi esisodwa zokukhiqiza izimpahla ezibizayo.

Kusisa - kuyinto imali, yona evame ukuqonda isici buthelela kokubhekiselwe kwezimali corporate noma ku-akhawunti yasebhange ngazinye inkampani. Resources, okuyothi ngalo idatha ukwakha izindlela, avame yilezi:

• izimali siqu inkampani;
• ukutshalwa kwezimali;
• ukubolekisa;
• Imali engenayo.

Izindlela capital investment ezimpahleni ezingasuki phansi

Kukhona 2 izindlela main lekusisa amafa elimisiwe inkampani.

Okokuqala, kukhona indlela eyodwa. Usikisela ukuthi utshalomali eyinhloko okuhambisana ezingeni izakhiwo zokuphatha ezisemqoka ibhizinisi. Ngokwesibonelo - eBhodini Labaqondisi lenkampani noma inkampani umzali, uma inkampani maqondana indodakazi yakhe.

Okwesibili, akukho okungenziwa indlela endlalekile imali ezimpahleni ezingasuki phansi inkampani. Usikisela iinqunto izimali izimali ezingeni kwezakhiwo yokubusa ezingeni lendawo. Ngokwesibonelo - ukuthuthukiswa inkonzo kanye nokwenza kahle production ezifuywayo.

Kuye ngobukhulu isitshalo, yokusebenza izici imithetho yasendaweni, ngosiko, ubuswa eyodwa noma enye indlela ezinkampani ukutshalwa kwezimali ezimpahleni ezingasuki phansi.

Jaan e Mann isikhathi futhi kahle kwezomnotho we dolobha ukutshalwa

Isikhathi payback utshalomali enhlokodolobha izimali kuyinto engalingani kakhulu uma kuqhathaniswa ukusebenza kwezomnotho phakathi izinkampani ezahlukene. Njengomthetho, kunethemba elincane e amabhizinisi amancane kakhulu kunezinye ezinkulu. Iyabuyekeza kwempahla fixed a imboni encane ekhiqiza kuhilela ukuzalisa imali, ezivame recouped ngaphakathi 3-4 kweminyaka. isitshalo elikhulu nge sesimanje efanayo kufanele basebenze, njengoba umthetho, eminyakeni engaba ngu-10 ngaphambi izimali izobuyiselwa ngesimo inzuzo ngezithukuthuku value added.

Cabanga indlela okungase kwenziwe ukuhlola ukusebenza kahle kwezomnotho capital ukutshalwa kwezimali. Empeleni, ngokushesha kangakanani ngeke umphumela kwezomnotho le-investimenti efanele, ikakhulukazi inquma impumelelo kanye nokuncintisana inkampani.

Ngaphansi kwe-cost-ukusebenza kokutshalwa kubhekwe ngokuvamile libhekisela lihlela isilinganiso phakathi kwama izindleko ezihlobene ukwakhiwa, ukwakhiwa kabusha noma ukuthengwa ezimpahleni ezingasuki phansi, kanye nemiphumela - ngesimo inzuzo. Ngezinye izikhathi nenzuzo yokutjala njengokuyimfuneko main nokuhlola ukusebenza kokutshalwa fixed capital is kwahambisana by nezinye izinkomba. Ngokwesibonelo - ukunwetshwa ashukumisayo brand khona, ukuqashelwa yayo emkhakheni umthengi. Bobabili Amathrendi kungabonakala nasemkhakheni hhayi ukusebenza kwezomnotho evelele kunazo.

Kuzo zonke izimo, umphumela utshalomali ngqo ezimpahleni ezingasuki phansi - ukwandisa umthamo ukukhiqizwa inkampani noma ushintsho qualitative. Lokhu kusho ukuthi inkampani uyakwazi ukukhiqiza ivolumu enkulu izimpahla noma imikhiqizo kwezobuchwepheshe. Omunye umbuzo ingabe uzobe ephelezelwa ukwehla izindleko. Iqiniso lokuthi ukwehliswa izindleko akusho ngaso sonke isikhathi kuxhomeke ukuphathwa embili yenkampani ngokuya sokuvuselela ezimpahleni ezingasuki phansi. Njengengxenye yalo msebenzi ayizikhombisi ezibalulekile ezifana zabasebenzi umkhiqizo kule nkampani, ezingeni ukulondolozwa ezinsiza, nophethiloli nekusebenta Logistics, ubuchwepheshe ingqalasizinda kufinyeleleke.

Izinkomba olufanele asiwazi njalo sihlobene ngokuqondile dolobha uma utshala imali. Ukusebenza kahle kwezomnotho capital ukutshalwa kwezimali, ngaleyo ndlela, kufanele kucwaningwe ngokubandakanya nangemva kokucabangela yokuthi abaningi ekukhuleni yezimiso zebhizinisi akunikezi zincike ivolumu kanye ukushuba ukutshalwa kwezimali okuhambisanayo. Nokho, le nkampani ukuphathwa awanakuziziba isifiso ekwakheni engcono amaphethini utshalomali olinganiselayo ezimpahleni ezingasuki phansi. Cabangela lezi zimpawu eziyisisekelo ukuxazulula le nkinga.

zindlela Key ukuqinisekisa ukusebenza capital ukutshalwa kwezimali

Ochwepheshe baye baphawula ohlwini olulandelayo ngemibandela okukhulunywa ngalo:

• ukuhlela utshalomali ngempumelelo;
• Sesha amaphrojekthi engcono kwezobuchwepheshe ukwakhiwa kanye kabusha kwezimali ezimpahleni ezingasuki phansi, izixazululo eziphambili ngokuya kokuqendwa amafa non-zamanje;
• igunya abheke ukuthi kungenzeka kwezomnotho kokutshalwa;
• ukutadisha isipiliyoni namanye amabhizinisi;
• ukubandakanywa ochwepheshe abanekhono lapho senza izinqumo mayelana utshalomali ezimpahleni ezingasuki phansi.

Ngamunye nenqubo akhethiwe kubalulekile. Umsebenzi ukuphathwa inkampani - musa ukunganakwa labo zisekelwe imininingwane ukukhiqizwa avele yesibili. Uma lokhu akunakugwenywa, kodwa ngesikhathi esifanayo ukuqinisekisa ukuthi imisebenzi yabo le umbandela kungaba izimbangi, ibhizinisi labo ozokhula ngaphezulu ngempumelelo, ceteris paribus.

Izinhlobo kahle kwezomnotho ka kokutshalwa kwezimali ezimpahleni ezingasuki

Ochwepheshe lakhomba inani izindlela lapho ungakwazi ukuhlaziya imiphumela ezindaweni ezifana ngezimali, njengoba inhlokodolobha ukutshalwa kwezimali. Ukusebenza kahle kwezomnotho capital ukutshalwa kwezimali, isibonelo, kuyinto 2 izinhlobo ezinkulu. Kuyini lokhu? Ochwepheshe ukukhomba ukusebenza kwe: ngokuphelele, ukuqhathanisa. Masitadishe izimfanelo ngamunye wabo ngokuningiliziwe.

Ingabe Ohulumeni Banalo Lonke kahle utshalomali

Ngakho, kukhona kahle ngokuphelele kwezomnotho capital ukutshalwa kwezimali. Ingqikithi yalo iwukuba ukukhomba izibalo, elibonisa ratio umkhiqizo net ngcono izindleko ezimpahleni ezingasuki phansi. Kulokhu, kwakheka mkhiqizo ngokusebenzisa non-zamanje amafa, ngakho izimali umbuzo zivame kubhekwe ensimini esincane - lo khomba ukukhiqizwa ibhizinisi endaweni. Kufanele kuqashelwe ukuthi utshalomali, kulinganiselwa amortization ngezindleko Isikhwama, kungukuthi kunakwe ekunqumeni ukusebenza kokutshalwa enixoxa ngalo.

Esinye imininingwane: ukubala kahle kwezomnotho capital ukutshalwa kwezimali kufanele enziwe ukuchitshiyelwa ukuthi ukusebenza ngendlela efanele ukuqapha izimpahla fixed luyasetshenziswa ngokuzimela. Umbuto kutsi yena, kuyaphumelela, kungenzeka sibe nobuhlobo ngqo izinga utshalomali ekukhiqizeni. Nakuba, njengoba umthetho, kokubili imingcele kakhulu kwehlisa.

Ngakho, kufanele kukhunjulwe ukuthi nekusebenta jikelele kwezomnotho capital ukutshalwa kwezimali, ngokuya kwezinhlobo elingaphezu kukahhafu kubhekwe ngokuhlukile nembuyiselo emafeni. Nakuba Amathrendi omuhle agcwele inkomba yokuqala, ngokuvamile ivumele ukuhlolwa kwe-yesibili.

kahle ngokuqhathanisa utshalomali

Kukhona ukusebenza ngokuqhathanisa kokutshalwa kwezimali ezimpahleni ezingasuki. Lolu khetho kubhekwa ukuze sithole ukuphathwa ezifanele, samuntu nenzuzo kakhulu kwezinqumo ezithile zokuphatha. Ngokwesibonelo, ehambisana ne-kubuyekezwa database inkampani yokukhiqiza. Ngokuqhathanisa izinkomba kahle kwezomnotho capital ukutshalwa kwezimali ezingaba ukubona ukuthi yiziphi izikimu akhona ukugcwaliseka izinqumo zokuphatha libhekene izindleko ongatheni, kanye funa aphansi zezimali. Lokhu kungadinga ekutholeni inhlanganisela kahle lezi nemingcele.

Esinye isici ukusebenza ngokuqhathanisa kokutshalwa kwezimali ezimpahleni ezingasuki - Ukuqhathanisa imiphumela utshalomali efanele futhi izimali ingqalasizinda ibhizinisi non-elikhiqizayo. Ngenhla sibonile ukuthi sesimanje izimali is hhayi njalo inquma ukuqondanisa imodeli ehola ibhizinisi, ngoba eqinile enganika izimbangi yokwandisa lezo zindawo umsebenzi ezingenziwanga kuhlobane ngokuqondile ukukhiqizwa. Comprehensive ukuhlolwa model of nekusebenta kokutshalwa kwezimali ezimpahleni ezingasuki kuhilela analysis eningiliziwe ekuphathweni imisebenzi efanele kanye ukwamukelwa, uma kunesidingo, izixazululo nokwandisa izinqubo zebhizinisi ezindaweni ezifana.

I Coefficient nekusebenta kokutshalwa kwezimali ezimpahleni ezingasuki

Kwenzeka ukuthi iqhinga libhekene ikhono ukusindisa ku utshalomali, elinye - ukufeza ukuncipha okukhulu ezindlekweni. Kulokhu, kungase kudingeke ukuba sisebenzise ezinye inkomba ejwayelekile, okungase guided ukukhethwa lolutsite. Phakathi ethandwa kakhulu wabo - Coefficient kahle kwezomnotho capital ukutshalwa kwezimali. It ingafakwa inkampani ethile, umkhakha, noma emnothweni iyonke. Abanye osomnotho uncamela cabanga ke njengendlela inkomba komnotho omkhulu wokuhlaziya ukuthuthukiswa inkampani, kucatshangelwa isimo emnothweni kazwelonke.

Coefficient Okubukwe kakhulu emkhakheni wezolimo kungenzeka kakhulu ngezansi noma ngaphezu kazwelonke ukuthi ngenxa izici ethize kwezomnotho kokuba nethonya phezu ingxenye ethile. Ngokwesibonelo, e-ezimbonini zokukhiqiza kahle ratio capital investment ngokuvamile leliphasi kunaleyo lapho ephawula ibhilidi noma, isibonelo, ulwazi nobuchwepheshe. Omunye okungu eliphakeme - e ukuhweba iimfesi. Lokhu kungenxa yokuthi lokhu ingxenye - liphakathi enenzuzo kakhulu. RIO ke Nokho kwenzeka angabacwasi ngokushesha, ukuze silondoloze ukusebenza imodeli yebhizinisi kungase kudingeke uphakamise dolobha e omningi kakhulu.

Uma sikhuluma isici komnotho omkhulu we ukusebenza kokutshalwa izimali, izinkomba esibonisa ukutshalwa ingafaniswa okuza ezahlukene deflation futhi indikatorami.Tak zezimali, isikimu olwamukelwa lapho ukusebenza kwe-yizinkomba zezomnotho wendawo kuqhathaniswa ne kwamandla emali, kanye izinga refinancing of Central Bank .

Uma kahle lonyaka kwezomnotho capital ukutshalwa kakhulu ngaphezu kokubili izinkomba, kungase eyabonisa high ukuphathwa kwamabhizinisi. Kodwa kuyinto efiselekayo ukuthi inkomba okuhambisanayo kwaba izinga lokwehla kwamandla emali ephakeme. Kuphela kuleli cala, abanikazi bamabhizinisi uyoyizwa kusukela iphuzu kwezomnotho umbono, ukuthuthukisa amabhizinisi. Yiqiniso, inkampani ongasebenza ngemajini elincane dolobha ukutshalwa kwezimali, futhi enze ngalesi inkinga ebalulekile emphakathini. Kodwa kulokhu kungenzeka udinge usizo kuhulumeni - ngesimo uxhaso kwezimali noma, isibonelo, obolekisayo concessional.

Indlela ukuhlolwa Inhloso kahle kwezomnotho ka kokutshalwa kwezimali ezimpahleni ezingasuki

Uma sihlola nekuhlatiya ukuphumelela kubhekwe ukuphathwa imboni yabatshali-zimali kufanele ngonanzelelo ekutadisheni umnqopho imiphumela kokutshalwa kwezimali ezimpahleni ezingasuki. Ngenxa yale njongo, ukubala kungathatha criteria ezifana:

• uhlaziyo ukusebenza kokutshalwa, ikhumbula inertia izinqubo eziningi ibhizinisi (Ukuhlola kufanele kwenziwe hhayi ngokushesha ngemva izinqumo ezisemqoka mayelana isiqondiso ekukhiqizeni imali, futhi emva kwesikhathi esithize - amabhizinisi ezinkulu imiphumela kuphela sobala ngemva kweminyaka engaba ngu-2-3 ngemva ukuqaliswa investimenti) ;
• Accounting ibhizinisi umkhakha eqondene (kwelinye indawo ukusebenza kahle eliphezulu kokutshalwa kwezimali - determinant we nenzuzo kanye amathemba ukuthuthukiswa kwebhizinisi, kwabanye kungase kube inkomba zesibili);
• Ukubuyekeza of kokutshalwa kwezimali ezimpahleni ezingasuki njengengxenye imodeli eyodwa kwezomnotho ukuphathwa ngokuqinile - kanye abasebenzi, inqubomgomo yezezimali, ukumaketha, umkhiqizo ukukhuthazwa.

Ngakho manje, ukuhlolwa Inhloso ukusebenza kokutshalwa kwezimali ezimpahleni ezingasuki kuhilela ukucabangela izici ezingase azikona kube ngqo okuhlobene ezimpahleni ezingasuki phansi. Ngesikhathi esifanayo kwezinye izimboni kuyoba kubalulekile ukuba ezinye zezici kwezinye izingxenye - enye, ngenxa umehluko phakathi Dynamics kanye okuqukethwe izinqubo zezomnotho ezinkampanini ezehlukene.

Izimali capital investment

Cabangela lesi sici, njenge-akhawunti capital ukutshalwa kwezimali. Yini-ke wenza?

Okokuqala, ukuphathwa kwenkampani kudingeka ulawule ukuthi izindleko kanye capital izindleko abelwe. Ukusebenza kahle kwezomnotho capital ukutshalwa kwezimali is zibalelwa isekelwe izinga ukuqapha ukusebenza nabo.

Izimali ezitshaliwe olucutshungulwayo Kwenziwa isebenzisa i-akhawunti 8 ezimali. Kuye ezindaweni ezithize uxhaso kungabuye icele sub-akhawunti. Ngakho, uma kuziwa ukwakhiwa - the zokukhokhelwa ngezimali kule ndawo asethe njó sub-akhawunti 3 akhawunti 08. Kulokhu, izindleko ezihlobene yanconywa zokuhlukanisa ngesisekelo bengabakaJehova isakhiwo ethile noma isakhiwo, futhi ukudalula Business ukuthengiselana, ezinye zazo yilezi:

• ukwakhiwa uqobo;
• ukufakwa;
• ukuthengwa yokusungula kanye nemishini;
• I-design futhi ucwaningo imisebenzi.

Kuye ngendlela lapho kusakhiwa kwempahla fixed - ngaphakathi noma izinhlangano subcontracted - akhethiwe nezinqubomgomo eziqondene kwamabhuku emininingwane yamabhuku ebhizinisi mshini zezimali, njengoba inhlokodolobha ukutshalwa kwezimali. Ukusebenza kahle kwezomnotho capital ukutshalwa kwezimali kuleli cala ngeke nato tihlolwe ngezindlela ezahlukene. Lokhu kungenxa ngokuyinhloko yokuthi imisebenzi kwezomnotho ngaphansi kwekhono aqinile, njengoba umthetho, esobala kakhulu: ukuqapha yabo iyatholakala aminingi ukudlula umhlaziyi esihambisanayo izenzo osonkontileka.