Ukusebenza eqhinga - sisalathisi yokuboleka eliphezulu

ukusebenza eqhinga na ezi ziqendwana zilandelayo:

- zahlula, echazwe yi umahluko phakathi isalathisi ophakathi ROA zibalwe ngepesenti zokuboleka;

- lever ingalo, ebalwayo njengoko umlinganiselo kwamatyala ukuya capital equity.

Ukususela kulo mba ulandela imithetho ezintlanu ezisisiseko mboleko yemali:

1. Inzuzo ezikweletini entsha kuxhomekeke kwisiphumo se amaxabiso mahluko kwixesha elizayo. Kulo mzekelo, kufuneka ulandele ngokusondeleyo kakhulu ukuhla kule salathisi. Ngoko ke, lo gama ukwakha "ingalo lever" yibhanki ihlawula umngcipheko lubandakanywe kunokunyuka kwamaxabiso mboleko. amathuba ophuhliso kwezoqoqosho ngokwaneleyo kule ndawo iinkampani ukuba abe eninzi umahluko.
2. umngcipheko umbolekisi kukuba bomzimba ngokomlinganiselo ixabiso umahluko. Ngoko, xa umngcipheko isalathiso omkhulu ngaphantsi ngayo kwi ixabiso elingaphantsi, ngokulandelelanayo, ukunyuka.
3. Xa ucinga amathuba okufumana yetyala ngexesha ubalo yimfuneko ukuba akhutshwe imali ehlawulwayo.
4. Uzinzo lwemali lweshishini ixhomekeke umlinganiselo mboleko, ke ngoko, ukuba bafumane mboleko entsha kufuneka aphathwe ngokuqaphela okukhulu.
5. Inqanaba ngokufanelekileyo mboleko kuthathwa ngokuba isabelo sawo kwi-40 ekhulwini zonke izinto ozifunayo. Uthe inkomba elingana nexabiso 0,67 lever.

Ukwandisa izinga mboleko kwandisa isakhiwo lomncono, onako ukwenza umngcipheko ethile. Kwaye oku efunekayo ngpahmbi kokuba ixhomekeke ababolekisi xa kuthe kwemali emva ngetyala, nto leyo ekhokelela nayo kwilahleko amatyala uzinzo kwezemali.

Kuba amaziko zebhanki kubalulekile kakhulu ukuba umboleki enokuba kwakukho ixabiso onganambithekiyo umahluko. Ezinye iingcali zikholelwa ukuba kwinkalo yezoqoqosho, ukuba isiphumo akumgangatho ukuze kuphunyezwe ngokupheleleyo wayo kufuneka lilingane isinye kwisithathu nembuyiselo asethi.

Ngamanye amazwi, isalathiso inzuzo kuxhomekeke hlengiso ngempumelelo kwale ubukhulu ixabiso. Kuphela kwinqanaba enjalo isiphumo akumgangatho zemali ibonisa amathuba yokuhlawula izaphulelo ezisemthethweni kuhlawulo lwerhafu kunye nokuqinisekisa iindlela zayo.

Ukuze ufumane iinkcukacha la magama kudingeka ukuba uqonde umgaqo oluxhathisayo, kwaye ifomula eyenziwe ngawo ibalwe.

Isiphumo of wokukhuthaza zemali kugqiba kunyuka ngexabiso kumvuzo net isabelo ngamnye ibalwa ngokweepesenti. Ngoko, kwi sobalo umehluko na irhafu esekelwe ukusebenza, ie esithathwini-yomahluko onesiphumo kumazinga inzuzo kunye nenzala. Thathela ingqalelo kwenkcazo ingalo lever, kunokwenzeka baphethe le fomyula ilandelayo:

EGF = 2/3 (ER - PO) * (AP / CC),

apho ER - inzuzo kwezoqoqosho.

SP - umyinge wenzala-mboleko.

AP - isixa- mali abolekiweyo.

SS - isixa-mali yakhe.

Ngokusekelwe kule ifomula, siyakwazi ukubona ukuba nentekelelo lenkampani kwisigaba zemali kunye nezoqoqosho kufuneka siqwalaselwe kuxhomekeke egxalabeni amaxabiso umehluko.

Bala ukusebenza akumgangatho ophezulu - ingxaki ukusuka kummandla liphupha. Emva kokuba namhlanje ingalo lever meko akwaziwa ukuba ingomso liya kuba inzuzo kwezoqoqosho kunye nezinga lenzala (umehluko). Ngenxa yoko, nokutsala mali ezongezelelweyo ngohlobo mboleko kwaye inkuthazo kuphuhliso lweshishini, kunye nengozi iilahleko ezinkulu kwixesha elizayo.

Ngoko ke, lo msebenzi engundoqo nawuphi na umphathi nkampani ilele ngaphandle lwemingcipheko yemali, ethatha kuphela kubalwa ngokusebenzisa ifuthe eqhinga zemali.