Ixabiso leNkunzi elikhoyo (iNPV) njengeNkqubo yoHlahlo lwabiwo-mali

Yiyiphi iNtengiso yeNet Present and How is It Used in Capital budget?

Ixabiso elikhoyo elikhoyo njengendlela yokuhlawula ibhajethi eyona ndlela ichanekileyo yenkqubo yohlahlo lwabiwo-mali abanikazi boshishino abanokuyisebenzisa ekuvavanyeni ukuba batyala okanye bangatyi imali kwiprojekthi entsha. Kuchanekile ngakumbi kumbono weemathematika kunye nexabiso lexesha lemali yombono ngaphandle kwexesha lokuhlawula okanye ixesha lokubuyisela elihlaziyiweyo . Kuchaneke ngakumbi kunokhenketho yenzuzo kunye nezinga langaphakathi lokubuyisela.

Yiyiphi iNtengiso yeNet Present?

Ixabiso elikhoyo langoku linye yeendlela ezininzi zokuhlawula ibhajethi ezisetyenziselwa ukuvavanya iiprojekthi zokutyalwa kwee-asethi apho ibhizinisi lingathanda ukutyalomali. Ngokuqhelekileyo, le projekti yotyalo-mali enkulu inkulu ngokwemida kunye nemali.

Inani elikhoyo langoku lisebenzisa ukuhlawulelwa kwemali ehlaziyiweyo ekuhlalutheni okwenza ukuba ixabiso elikhoyo elikhoyo elikhoyo lilungelelaniswe nayiphi na indlela yokuhlawula ibhajethi njengoko ibona umngcipheko kunye nexesha elithile. Kuthetha ukuba uhlalutyo lwamaxabiso olwangoku luhlalutya ukuhamba kwemali okuza kuxhaswa yiprojekthi ngokuwaphuhlisa kwakhona ngoku ngokusebenzisa ixesha elide le projekthi (t) kunye neendleko ezilinganisiweyo zokuba zikhulu (i) . Ukuba isiphumo siphumelele, ngoko iqumrhu kufuneka lityalomali kule projekthi. Ukuba ungekho, i-firm should not invest in project.

Iintlobo zeeprojekthi zePropati apho Usebenzisa ixabiso elikhoyo elikhoyo

Ngaphambi kokuba ungasebenzisa ixabiso langoku lexabiso elikhoyo ukuhlalutya iphrojekthi yentengo yotyalo-mali, kufuneka ukwazi ukuba le projekthi yiprojekthi ekhethekileyo okanye eyimfuneko.

Iiprojekti ezizimeleyo ngabo abachaphazelekayo ngokuhamba kwemali kwezinye iiprojekthi.

Iiprojekthi ezizodwa, nangona kunjalo, zihlukile. Ukuba iiprojekthi ezimbini zihlangene ngokuthe ngqo, kuthetha ukuba kukho iindlela ezimbini zokuphumeza umphumo ofanayo. Kungenzeka ukuba ishishini licele iibhidi kwiprojekthi kwaye inani lamabhidi lifunyenwe.

Awuyi kufuna ukufumana amabhidi amabini kwiprojekthi efanayo. Lo ngumzekelo weprojekthi ekhethekileyo.

Xa uvavanya amaprojekti amabini otyalo-mali , kufuneka uhlolisise ukuba ngaba ngaba zimeleyo okanye zodwa kunye nokwamkela okanye ukugatya isigqibo malunga noko.

Imilinganiselo yeNqanaba leNkcazo yeMali

Yonke indlela yokuhlawula ibhajethi inesigqibo sesigqibo. Ngokomzekelo, umyalelo wesigqibo sexesha lokubuyisela kukuba uyamkela iphrojekthi ukuba ibuyise imali yayo yokuqala-mali ngexesha elithile. Isigqibo esifanayo sinjalo kwixesha lokubuyisela ukuhlawula. Lezo zimbini nje imizekelo.

Ixabiso langoku lexabiso elikhoyo libuye libe neyakhe imigaqo. Apha:

Iiprojekthi ezizimeleyo: Ukuba i-NPV ikhulu kune $ 0, yamkela iphrojekthi.

Iiprojekthi ezizodwa: Ukuba i-NPV yeprojekthi enye iphezulu kuneNPV yenye iphrojekthi, yamkela iprojekthi nge-NPV ephezulu. Ukuba zombini iiprojekthi zineNPV engalunganga, zilahle iiprojekthi zombini.

Umzekelo Ingxaki: Ukubalwa kwexabiso elikhoyo elikhoyo

Masithi i-XYZ, i-Inc iqwalasela iiprojekthi ezimbini, iprojekthi ye-A kunye neProjekthi B. Iprojekthi A yiprojekti ye-4 ngeminyaka elandelayo ngemali engama-5,000, i-$ 4,000, i-$ 3,000, i-$ 1,000.

Iprojekthi B nayo iphrojekthi ye-4 ngeminyaka yokuhamba kwemali nganye kwiminyaka emi-4: i-$ 1,000, i-$ 3,000, i-$ 4,000, i-$ 6,750. Iindleko zenkampani yexabiso liyinkunzi ye-10% kwiprojekthi nganye, kwaye utyalo-mali lokuqala luyi-$ 10,000. Bala i-NPV yeProjekthi ye-A kunye no-B kwaye uphendule impendulo yakho:

Sizama ukucacisa inani lamanje lale mveliso yokuhamba kwemali. Ezi zombini iiprojekthi zinokungena kwemali engalinganiyo. Ngamanye amagama, ukuhamba kwemali akuyiyo imali. Nanku ukulingana okusemgangathweni kokubala inani langoku leemifudlana ezingafaniyo zokuhamba kwemali:

I-NPV (p) = CF (0) + CF (1) / (1 + i) t + CF (2) / (1 + i) t + CF (3) / (1 + i) t + CF (4) / (1 + i) t

Iphulo: Unokwandisa eli lilinganiso ixesha elide ixesha le projekthi lihlala.

Ukuchazwa : Ukubala i-NPV, udibanisa ukuhamba kwemali ukusuka kwiNyaka ye-0, eyona ntlawulo-mali yokuqala kwiprojekthi kuyo yonke iprojekthi yokuhamba kwemali.

Utyalo-mali lokuqala, nangona kunjalo, ukuphuma kwemali, ngoko ke inombolo engalunganga. Kulo mzekelo, ukuhamba kwemali nganye kwiprojekthi nganye kwiminyaka 1 ukuya kwe-4 yiyo yonke into enobulungisa.

apho i = iindleko zenkampani yemali kunye neendleko

apho t = unyaka apho ukuhamba kwemali kufunyenwe khona

Masibale i-NPV yeProjekthi yeS:

I-NPV (S) = (- $ 10,000) + $ 5,000 / (1.10) 1 + $ 4,000 / (1.10) 2 + $ 3,000 / (1.10) 3 + $ 1,000 / (1.10) 4

= $ 788.20

I-NPV yeProjekthi S i $ 788.20. Kuthetha ukuba ukuba iqumrhu lifaka imali kule projekthi, longeza i-788.20 yexabiso kwixabiso lefirmati.

Zama umzekelo. Unayo idatha engentla kwiProjekthi L. Sebenzisa i-equation NPV kwaye ubale i-NPV yeProjekthi L. Yiya kumanyathelo. Kufuneka ufumane i-$ 1,004.03. Ukuba iiprojekthi ezimbini zizimeleyo, kufuneka uwamkele zombini kuba zombini zine-NPV enhle. Nangona kunjalo, ukuba zidibeneyo, kufuneka uwamkele i-Project L nje ngokuba inenani eliphezulu lexabiso langoku.

Uyabona ukuba kutheni i-NPV yindlela efanelekileyo yokuthatha isabelo sebhajethi kuba kuthatha ingozi kunye nexesha.