Cu a

Trong :

i vi d n trn, vi nhng thng tin m cng ty cung cp, cn thm nh ch tiu N

Tnh NPV xem th d n c p ng c mc tiu ti a hoa li nhun hay khng,
Tnh IRR nhm mc ch phn nh mc sinh li m d n to ra hng nm, v cng t

Cu b
Bng tnh dng ngn lu (Dng PP trc tip)
Nm
I. KHON THU
Doanh thu hng nm
Tng ngn lu vo

II. KHON CHI

1. Chi ph hot ng
2. Thu thu nhp doanh nghip
Tng ngn lu ra
Ngn lu rng = ( I) -(II)

-400.000

400.000
400.000

420.000
420.000

441.000
441.000

463.050
463.050

200.000
33.600
233.600

220.000
33.600
253.600

242.000
33.320
275.320

266.200
32.718
298.918

166.400

166.400

165.680

164.132

3
441.000
242.000
80.000
119.000
33.320
85.680
165.680

4
463.050
266.200
80.000
116.850
32.718
84.132
164.132

Bng tnh dng ngn lu (Dng PP gin tip)

Nm
1. Doanh thu hot ng
2. Chi ph hot ng
3. Khu hao
4. Li nhun trc thu=1-2-3
5.Thu thu nhp doanh nghip
6.Li nhun sau thu
7.Ngn lu rng = 6+3

-400.000

1
400.000
200.000
80.000
120.000
33.600
86.400
166.400

2
420.000
220.000
80.000
120.000
33.600
86.400
166.400

R
15%
NPV
$153.660
IRR
30.38%
Nh vy, t kt qu tnh ton trn cho thy, NPV >0 => thc hin d n s c li nhun.
Mt khc, IRR>15% li sut hon vn ln hn chi ph s dng vn khi thc hin d n.
Kt lun
Nn thc hin

ung cp, cn thm nh ch tiu NPV v IRR ca d n.

ti a hoa li nhun hay khng, v ch tiu cng l ch tiu o lng c hiu qu c i ca d n v c Tnh n gi tr th gian ca tin
d n to ra hng nm, v cng t cho bit chi ph s dng vn cao nht m nh u t c th chp nhn c khi thc hin d n

VT:$
5
486.2025
486.2025

292.820
31.747
324.567
161.6354

VT: $
5
486.2025
292.820
80.000
113.3825
31.747
81.6354
161.6354

 Tnh n gi tr th gian ca tin

p nhn c khi thc hin d n

Dng ngn lu ca d n( theo pp trc tip)

Nm
Ngn lu rng(TIP)

0
-6500

R
NPV
IRR

Nm
Ngn lu rng(EPV)

R
NPV
IRR

1
1405.2

2
1952.3

3
2120.5

VT:tr
4
4341.2

2
1146.28

3
1392.52

VT:tr
4
4341.2

12%
579.25 (tr)
15.47%

0
-4550

1
521.2

12%
579.24 (tr)
16.33%

T kt qu tnh ton trn cho thy, NPV ca d n ln hn 0, chng t nu thc hin d n s mang li li nhun
Bn cnh , ta thy li sut hon vn li ln hn chi ph s dng vn
Vy, y l mt d n c kh nng sinh li cao-> Nn thc hin d n ny

n d n s mang li li nhun

Dng ngn lu theo phng php trc tip

VT:t ng
Nm
0
1
2
3
4
Doanh thu
10
12
12
12
Chi ph bin i
4
4.8
4.8
4.8
Chi ph c nh 10
1
1
1
1
Thu TNDN
1
1.48
1.48
1.48
Ngn lu rng -10
4
4.72
4.72
4.72

Dng ngn lu theo phng php gin tip

VT:t ng
Nm
0
1
2
3
4
Doanh thu
10
12
12
12
Chi ph bin i
4
4.8
4.8
4.8
Chi ph c nh 10
1
1
1
1
Khu hao
2.5
2.5
2.5
2.5
Thu nhp trc thu
-10
2.5
3.7
3.7
3.7
Thu TNDN
0
1
1.48
1.48
1.48
Li nhun sau thu
1.5
2.22
2.22
2.22
Ngn lu rng -10
4
4.72
4.72
4.72

R
20%
NPV
1.62 t ng
IRR
28.08%
T kt qu tnh ton trn cho thy, NPV ca d n ln hn 0, chng t nu thc hin d n s mang li li nhun
Bn cnh , ta thy li sut hon vn li ln hn chi ph s dng vn
Vy, y l mt d n c kh nng sinh li cao-> Nn thc hin d n ny

n s mang li li nhun