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Qun tr ti chnh:

Qun tr ti chnh l mt trong nhng hot ng quan trng ca cng ty nh


hng n cc chin lc kinh doanh ca cng ty ng thi cc phn tch v ti chnh
cng l mt trong nhng nh gi hiu qu nht cho tnh hnh hot ng kinh doanh
ca cng ty.
Da trn nhng nghin cu, tm hiu ca nhm v Cng ty C phn Thanh Nin,
nhm thu thp c bng cn i k ton v bng bo co kt qu hot ng kinh
doanh ca cng ty nhm nh gi qu trnh qun tr ti chnh ca cng ty nh sau:
Bng cn i k ton cng ty C phn Thanh Nin nm 2011
n v tnh: Vit Nam ng
TI SN
1

M
s
2

A- TI SN NGN HN (100=110+120+130+140+150)

100

I- TIN V CC KHON TNG NG TIN

110

1- Tin

111

2- Cc khon tng ng tin

112

II- CC KHON U T TI CHNH NGN HN

120

III- CC KHON PHI THU

130

1- Phi thu ca khch hng

131

2- Tr trc cho ngi bn

132

5- Cc khon phi thu khc

135

6- D phng phi thu ngn hn kh i (*)

139

IV- HNG TN KHO

140

1- Hng tn kho

141

V- TI SN NGN HN KHC

150

1- Chi ph tr trc ngn hn

151

Thuyt
minh
3

V.01

V.02

V.03

V.04

S cui
nm
4
784,009,86
0
123,060,99
1
63,060,99
1
60,000,00
0
419,773,58
1
326,271,91
2
93,131,75
7
3,820,27
1
(3,450,36
0)
201,649,40
6
201,649,40
6
39,525,88
3
22,048,85

1
2- Thu GTGT c khu tr
3- Thu v cc khon phi thu Nh nc

152
154

4-Ti sn ngn hn khc

158

B- TI SN DI HN (200=210+220+240+250+260)

200

I- CC KHON PHI THU DI HN

210

II- TI SN C NH

220

1- Ti sn c nh hu hnh

221

- Nguyn gi

222

- Gi tr hao mn ly k (*)

223

V.05

V.08

4- Chi ph xy dng c bn d dang

230

V.11

III- BT NG SN U T
- Nguyn gi

240
241

V.12

IV- CC KHON U T TI CHNH DI HN


3- u t di hn khc

250
258

V- TI SN DI HN KHC

260

1- Chi ph tr trc di hn

261

TNG CNG TI SN (270=100+200)

17,477,03
1
557,472,74
9
514,148,78
1
438,633,87
7
586,948,79
6
(148,314,91
9)
75,514,90
4
-

V.13

V.14

270

NGUN VN
A- N PHI TR (300=310+330)

300

I- N NGN HN

310

1- Vay v n ngn hn

311

2- Phi tr ngi bn

312

3- Ngi mua tr tin trc

313

4- Thu v cc khon phi np Nh nc

314

V.16

5- Phi tr ngi lao ng


6- Chi ph phi tr
9- Cc khon phi tr, phi np ngn hn khc

315
316
319

V.17
V.18

V.15

43,308,96
7
43,308,96
7
1,341,482,60
9
639,712,21
7
574,657,23
5
240,642,00
0
257,022,11
9
39,037,50
5
31,289,33
5
590,585
2,167,27

7
10- D phng phi tr ngn hn

320

11- Qu khen thng phc li

323

II- N DI HN

330

1- Phi tr di hn ngi bn
2- Phi tr di hn ni b
3- Phi tr di hn khc

331
332
333

V.19

4- Vay v n di hn

334

V.20

5- Thu thu nhp hon li phi tr


6- D phng tr cp mt vic lm

335
336

V.21

B- VN CH S HU (400=410+430)

400

I- VN CH S HU

410

1- Vn u t ca ch s hu

411

2- Thng d vn c phn

412

7- Qu u t pht trin

417

8- Qu d phng ti chnh

418

10- Li nhun sau thu cha phn phi

420

II- NGUN KINH PH, QU KHC


1- Ngun kinh ph
2- Ngun kinh ph hnh thnh TSC

430
432
433

TNG CNG NGUN VN (440=300+400)

NGI LP BIU

440

V.22

V.23

2,408,41
3
66,554,98
3
66,300,00
0
254,983
701,770,39
2
701,770,39
2
500,000,00
0
74,080,00
0
4,532,64
4
6,733,06
5
116,424,68
3
1,341,482,60
9

K TON TRNG

Bng bo co kt qu hot ng kinh doanh Cng ty C Phn Thanh Nin


nm 2011
n v tnh: Vit Nam ng

Ch tiu
1. Tng doanh thu

cui nm
3,298,238,00
0
78,983,00
0
3,219,255,00
0
1,770,590,25
0
1,448,664,75
0

2. Cc khon gim tr
Doanh thu thun
Gi vn hng bn
Li nhun gp
Doanh thu t hot ng ti chnh
Chi ph ti chnh

96,249,60
0
57,749,76
0
965,776,50

Trong : chi ph li vay


Chi ph bn hng
0
Chi ph qun l doanh nghip

164,911,90
0

Li nhun thun

221,726,75
0

Thu nhp khc

197,894,28
0

Chi ph khc

32,982,38
0

Li nhun khc

164,911,90
0

Tng li nhun trc thu

386,638,65
0

Chi ph thu hon li


Li nhun sau thu

289,978,98
8

Li c bn trn c phiu

T nhng thng tin c c nhm a ra nhng nh gi v ti chnh ca cng ty nh


sau:
I.Qun tr ngun vn:
Qun tr ngun vn vay :

Tng n phi tr ca doanh nghip chim khong trn 70% trn tng s
vn , trong , vn vay ngn v di hn ca doanh nghip l 34% trn

tng ngun vn, cng ty lun kim sot t sut ny hn ch ri ro v


n nu cng ty khng c khch hng. Vi nh hng cha cng ty,
cng ty la chn cch vay ngn hn nhm p ng nhu cu kp thi v
nhanh chng. C th, vay ngn hn chim trn 71% tng vay, v l cng
ty du lch, ch c nhu cu cao vo nhng dp ngi dn c thi gian rnh,
ngh l, php nn vay ngn hn s p ng c nhu cu. Vay di hn
chim cha ti 30% tng s tin vay, nh nu trn th vay di hn ca
cng ty ch phc v u t thm cc thit b mi phc v khch, u t
thm cho vn phng ca cng ty. Vn vay c vay ch yu t ngn
hng, v cng ty l khch hng lun tr n ng hn, kinh doanh c li tt
nn rt d dng tip cn c ngun vn ny, mc khc Nh nc ang
c chnh sch h dn li sut, y thc s l 1 tn hiu ng mng i vi
cng ty. Chi ph li vay vo khong 1,5% thng, tng ng 18%/nm.
V hnh thc tr n ca khon vay ny l tr n gc bnh qun, li gim
dn theo s d.
Tin dng tr n vay c ly t li nhun thu c, khi qun cng ty
tin hnh hot ng v c li. V s tin ny s c cng ty quy nh vi
mt t l trn li nhun sau thu thu c.
Qun tr ngun vn ch s hu :
Vn ch s hu ca cng ty chim 1 t trng tng i khng cao, ch
khong hn 27% tng ngun vn ca doanh nghip. Do xe s dng trong
i tua c thu, nn vn ch s hu b ra ban u u t ti sn c
nh khng qu nhiu nh cc cng ty lm v du lch khc. Vn ch s
hu c huy ng ch yu t cc c ng ln trong cng ty, t l c
phiu nm gi gia cc c ng ln l khng qu chn lch, v vy kh
c s ln t gia cc c ng khi cng ty a ra quyt nh chin lc
no , thng thng, khi c quyt nh quan trng cho tng lai ca
cng ty, cc thnh vin trong hi ng qun tr s biu quyt, v quyt
nh c a ra khi c c nhiu s ng tnh nht t cc thnh vin
ca hi ng qun tr.

II.

Qun tr ti sn:
1. Qun tr ti sn c nh:
i vi ti sn c nh, nht l bt ng sn, t nn hay cc loi
phng tin phc v d lch nh xe khch, xe t..., cng ty ch yu
la chn hnh thc thu ngoi tit kim chi ph.
Do bt ng sn ti khu vc trung tm thnh ph c gi rt cao, nu
cng ty la chn hnh thc mua ti sn c nh kinh doanh hay mua
mi cc phng tin vn chuyn c gi thnh cao cng dn n chi
ph u vo cao, to p lc v chi ph. Do , bin php thu ngoi s
l hiu qu cho nhng cng ty c quy m khng ln nh Cng ty C
phn du lch Thanh Nin.
Tuy nhin, i vi ti sn c nh, d mua mi hay thu ngoi cng ty
u phi tn chi ph sa cha ban u. Song do y l cng ty dch v
du lch nn vic bo tr, sa cha v trang tr li khng cn phi
thng xuyn v tn qu nhiu chi ph.
2. Qun tr ti sn lu ng:
1. Tin:
Theo bo co ti chnh ca cng ty, lng tin mt v cc khon
tng ng tin ca cng ty vo nm bo co l gn 3 t ng,
lng tin ny c cng ty s dng ch yu chi tr cc khon
n cn thanh ton ngay hoc cc khon n n hn phi tr.
Lng tin ny ng thi cng nh hng khng nh n kh
nng thanh khon ca cng ty do vy vic qun l v s dng c
hiu qu ngun ti sn ny i vi cng ty l ht sc cn thit.
2. Cng c, dng c:
Cc cng c, dng c phc v cho kinh doanh i vi mt cng ty
c loi hnh kinh doanh dch v du lch nh Cng ty C phn

Thanh Nin khng tht s nhiu (ch yu l cc phng tin h


tr).
3. D tr hng ha cho kinh doanh dch v:
y l mt cng ty kinh doanh dch v du lch nn vic d tr
hng ha ca cng ty ch yu l d tr ch yu l d tr cc loi
nc ung, khn lnh, thc n nh c ng gi,... phc v cho
hnh khch trong cc chuyn tham quan, du lch.
4. Cc khon phi thu:
i vi cc khon n t khch hng, cc nh cung ng, cc nhn
vin ca cng ty hay ca cc i tng khc cng ty u ln k
hoch thu hi cc khon ny mt cch r rng.
Vic thc hin k hoch thu hi n khng nhng gip cng ty thu
hi ng hn cc khon n khng lm nh hng ti tnh hnh
kinh doanh ca cng ty m cn gip gim ri ro cho cng ty, c
bit l i vi cng ty khng ln nh cng ty C phn Thanh
Nin.
III.

Qun tr doanh s bn:


Vic qun tr doanh s bn ca doanh nghip c thc hin tng i n
nh, trong nhng nm doanh s bn ca doanh nghip duy tr mc
trung bnh, tc cng sut t khong 30% d kin. Sau mt thi gian hot
ng cng ty c gng duy tr cng sut hot ng t 40-50% c th
t c li nhun nh mong mun.
R rng, trong bi cnh ngi dn phi tht cht chi tiu v hn ch i du
lch, gii kinh doanh l hnh thc tnh v buc phi cn nhc a ra
nhiu gii php kch cu. Chng ta s c bin php thit k, lm mi li
cc tour c m vn khng tng gi so vi bng gi c. Bn cnh hp
tc cht ch vi cc hang vn ti ng b cng nh ng khng
gim gi vn chuyn, gp phn gim gi v kch cu du lch.

IV.

Qun tr chi ph:


Vic qun tr cc chi ph ca cng ty khng nhng gip cng ty kim sot
cc chi ph m cn kim nh gi c tnh hnh s dng v phn b cc
ngun vn ca mnh c hiu qu hay khng. y l mt hot ng quan
trng v ht sc cn thit i vi bt k cng ty kinh doanh no.
i vi Cng ty C Phn Thanh Nin ta c th d dng tnh c cc ch
s sau thng qua cc thng tin bit v cng ty.
1. H s li gp= 0.45: C 100 ng doanh thu th c 45 ng dng
trang tri cho chi ph hot ng c li.
2. T sut li nhun trn doanh thu
Tng li nhun trc thu/ Doanh thu= 0.117 ngha l: trong 100 ng doanh
thu m doanh nghip c c th c 11.7 ng l li nhun trc thu.
Tng li nhun sau thu/ Doanh thu= 0.088 ngha l: trong 100 ng doanh thu
m doanh nghip c c th ch c 8.8 ng li nhun sau khi tr cc khon
thu.
3. T s LN/ Tng CPKD <tng cp=2934261030>
T sut li nhun trc thu/CPKD= 0.132 ngha l: c 100 ng chi ph doanh
nghip b ra kinh doanh th doanh nghip s thu c 13.2 ng li nhun trc
thu.
T sut li nhun sau thu/CPKD= 0.099 ngha l c 100 ng chi ph doanh
nghip b ra kinh doanh th doanh nghip s thu c 9.9 ng sau thu.
4. T sut li nhun trn tng ti sn (ROA)
ROA= 28.8%
Sau y l thng tin v cc chi ph ca Cng ty C phn Thanh Nin
Chi ph bn hng
Lng cho nhn vin bn hng

577,321,120

Cc chi ph phc v cho vic bn hng

88,455,380

Chi ph cho cc hot ng xc tin

Chi qung co

100,000,000

Chi khuyn mi

50,000,000

Chi cho PR

30,000,000

Chi cho Marketing trc tip

10,000,000

Chi cho tuyn truyn

10,000,000

Chi ph qun l doanh nghip


Lng cho b phn qun l doanh nghip

155,241,000

Cc khon ph khc

5,000,000

Cc khon chi ph iu hnh kinh doanh

4,670,900

Chi ph cho b phn cung cp dch v trc tip cho khch hng
Tr lng cho nhn vin cung cp dch v

80,000,000

Khu hao CCDC v cc phng tin cung cp dch v cho KH

V.

Nguyn liu, vt liu v cc hng ha phc v khch hng

5,000,000

Cc dch v mua ngoi khc

15,000,000

Hch ton kt qu kinh doanh:


1. Tnh ton li l:
Hch ton li l l mt cng vic khng th thiu khi qun tr ti
chnh. Di y l bng hch ton ca cng ty trong vng 3 nm gn
y:

n v tnh : triu ng

STT

Khon mc

Nm
2009

Tng doanh thu

3,298,238,000

II

Tng chi ph

2,911,599,350

Bin ph

264008140

Nguyn vt liu

15,780,600

BHYT+PL+BHXH

24,567,000

CP qun l

21,366,900

III

CP bn hng

111,561,500

Chi ph khc

32,982,380

Li vay vn lu ng

57,749,760

nh ph
in

43,240,000

Nc v internet

73,237,000

CP qun l

143,545,000

CP bn hng

854,215,000

CP thu t

360,000,000

CP khc

873354210

KHCB

30,000,000

Li nhun trc thu


Thu TNDN

IV

2,647,591,210

Li nhun sau thu

386,638,650
96,659,662
289,978,988

3hjj

2. Tnh ton hiu qu ca cc khon u t:


-

Kh nng thu hi vn u t:
Kh nng thu hi vn u t l mt trong nhng ch tiu quan
trng nh gi hiu qu s dng vn ca doanh nghip. Vic s
dng vn tn hay khng c nh hng n kt qu kinh doanh v
kh nng thu hi vn ca doanh nghip, iu ny c th hin
thng qua cc t s nh vng quay ti sn c nh, vng quay cc
khon phi thu, vng quay hng tn kho

T sut li nhun ca vn u t: bng li nhun rng trn vn


u t. iu ny cho thy li nhun m doanh nghip c li nh
hng n nhiu n hiu qu ca vn u t.

Chi ph c hi

Hiu qu s dng vn thng qua cc ch s ROE ( sut sinh li


trn vn c phn thng)

VI: Gii php:


Gii php tng doanh thu l gii php cn c u tin, trong cc
vn lin quan n tng doanh thu bao gm cc yu t nh:
marketing, vn, nhn lc, chi ph qun l,...
C th nh: tng doanh thu, i vi yu t marketing cng ty c th
pht trin cc chng trnh khuyn mi, tng s nhn bit ca khch
hng n thng hiu ca cng ty. Ngoi ra, vic tng cng qung
co trn cc phng tin thng tin i chng cng c th xem nh mt
hnh thc a hnh nh thng hiu ca cng ty vo tm tr khch
hng tng i nhanh chng v thng c hiu qu.
Vic tit kim chi ph cng l mt vn m doanh nghip cn quan
tm phn tch v iu chnh tng doanh thu bng cc bin php
nh: loi b cc tour du lch khng mang li nhiu li nhun, ct gim
nhn vin, gim lng nhn vin, gim chi ph thu mn. Song cng
cn ch rng, vic cc gim cc chi ph khng nn thc hin mt

cch ty tin m cn phi c xem xt k lng trc khi a ra


quyt nh bi i khi ct gim chi ph s mang li nhng tc ng
tiu cc cho cng ty.
V d nh vic gim lng, thng ca nhn vin, c th mang li tc
ng tch cc l tng tnh cnh tranh trong qu trnh lm vic ca nhn
vin song cng c th mang li tc ng tiu cc nh nhn vin cm
thy khng hi lng hoc chi tr lng, thng khng xng ng,
khng ph hp vi cng sc h b ra t rt d to ra tm l chn
nn, khng mun lm vic, nng sut v s nhit tnh trong cng vic
khng cao, thm ch nhn vin c th b vic v sang lm vic cho cc
cng ty khc l i th cnh tranh ca cng ty.
Do , vic a ra cc gii php nhm tng doanh thu hay ct gim
chi ph cn c nghin cu, xem xt k lng trc khi a ra quyt
nh.