Utyalo-mali Isifundo 3: Ukuhlalutya iShidi lokuBhalisa
(I-subsidiary yinkampani elawulwa yinkampani ngokubunini ubuncinane ubuninzi besitokti sokuvota.)
Ukususela kwiminyaka ka-2008 kunye no-2009, iBhodi yeMigangatho yeeNkcazo zezeMali (FASB) yazisa inguqu enkulu kwindlela inzala encinci eyabelwe ngayo kwi-balance sheet ngokufuna ukuba iinkampani zibeke uluhlu lwabantu abancinci phantsi kwecandelo lolingana nabanini - mali nabangenxalenye yamatyala apho efunyenwe ngaphambili. Oku kwakukutshintsho olukhulu kumgaqo-nkqubo wokuphendula kunye neendlela zokuba iirekhodi zonyaka kunye neFom 10-K zifakela emva kolu suku, kuya kufuneka ukhangele ngaphantsi kwekharityhulam ukuze ufumane isigaba senzala. Kwakhona kuthetha ukuba kuya kufuneka ukuba uqaphele oku xa ufunda okanye uhlalutya iingxelo zonyaka zonyaka, njengoko isigaba senzalo esincinci siza kubonakala njengoluhlobo lwetyala. Nangona izikhundla zombini zinokuthi zichaneke (ukucinga kwangaphambili kukuba inzala encinci "yayinetyala" kubanini beempahla ezincinci; ukucinga okutsha kukuba abancinci abathinteliyo abakhokhwanga nantoni na, banayo, ngoko kufanelekile ukuba bayibhale ulwabiwo-mali), ndiyakholelwa ukuba ukunyuka kwinqanaba le-equity kuyinto enengqiqo ngakumbi kwinkcazo yezoqoqosho.
Umzekelo wendlela inzala encinci isebenza ngayo
Indlela engcono kakhulu yokubonisa indlela inzala encinci yokusebenza ngayo kukubonisa umzekelo wehlabathi wangempela kwiinkampani esisebenzise amaxesha amaninzi kumanqaku angaphambili kule sifundo-mali, iBerkshire Hathaway. Mhlawumbi inkampani edumileyo kunazo zonke e-United States, ukuba kungekhona ihlabathi, inqwelo-mali ye-billionaire iWarren Buffett yenza inqaku elincinci kwisixhobo esicwangcisekileyo sokufuna ukuqonda.
UBuffett uya kufumana ishishini elikhangayo, ngokuqhelekileyo eliphantsi kwentsapho okanye elawulwa ngabantu abambalwa, kwaye ke banikezele ukufumana okungenani ama-80 ekhulwini lesitokisi. (Isizathu sokuba i-80 ekhulwini ibalulekile kukuba loo mgca apho irhafu yenkampani ekhoyo e-United States ithetha ukuba ishishini elifumene liza kuthathwa njenge-subsidiary edibeneyo ngokupheleleyo kwaye inkampani ebambe iqela ayiyi kuhlawulwa irhafu izabelo ezivela kuloo mali.) Nangona kunjalo, nayiphi na inxalenye yentsizana eseleyo ezandleni zabangabhalisi bamasango kufuneka iboniswe kwiingxelo zezimali zeBerkshire Hathaway. Yilapho umdlala oncinci udlala khona.
Ukujonga indlela inzala encinane ye-Nebraska Furniture Mart eyayiqhutyelwa ngayo kwi-balance sheet yaseBerkshire Hathaway
Ngowe-1983, i-Nebraska Furniture Mart e-Omaha, e-Nebraska, yayiyindawo yokugcina impahla yasekhaya e-United States. Imali yayo yokuthengisa yaminyaka yonke idlula i $ 88.6 yezigidi kwaye le nkampani ayinayo ityala. Emva kokuphawula indlela impumelelo yefenitshala yefenitshala ngayo, omnye u-Omaha owazalwa uWarren Buffett waya kumnini, uRose Blumkin, waza wanikela ukuthenga inkampani kuye.
Ngenxa yokulwa nabantwana bakhe nabazukulwana bakhe, uRose waxhuma ngelithuba lokuba athengise ubukumkani awawakhele ngaphandle.
Wayeqalile ngaphandle kwemali, wayebalekele eUnited States ukuba abaleke amaNazi, kwaye akazange akwazi ukufunda okanye ukubhala isiNgesi nangemva kokuba abe ngowesifazana abacebile kakhulu kwilizwe lakhe. Intengiselwano yayiya kumvumela ukuba ahlale ephethe ishishini ayemthandayo, uqhubeke nokugcina isigxina esichengileyo, kwaye ukhulise inani elikhulu lemali ngenjongo yokucwangcisa ifa. Ngokukhawuleza, wazinikela ukuthengisa i-90% ye- Nebraska Furniture Mart esitokisini eya eBerkshire Hathaway nge-$ 55 yezigidi.
Ngomso olandelayo, uBuffett wangena esitolo waza wamnika isheke. Oku kwenza i-NFM inxhasomali ephantsi kweBerkshire. Ekubeni ama-subsidiari alawulwa yinkampani yabazali , imithetho yemigaqo-mali iyabavumela ukuba baqhutywe kwiphepha le-balance sheet yenkampani yomzali. 1 Xa iBerkshire Hathaway ithenge isigxina sayo se-90% eNebraska Furniture Mart, yakwazi ukwongeza i-asethi kunye namatyala (kwakhona, kwakungekho nanye wezo zilandelayo ngenxa yefilosofi ye-Blumkin ye-credit free-free) yefenitshala enkulu iphepha.
Oku kwazisa ingxaki. I-Berkshire Hathaway yayingakwazi ukuhlanganisa i-balance sheet ye-Nebraska ye-Furniture Mart kunye nephepha layo lokulinganisela, kodwa, ngokwenene, ayinayo yonke i-Nebraska Furniture Mart. Khumbula, uRose Blumkin wathengisa i-90% yenkampani yakhe. Wayegcina enye i-10%. Oko kuthetha ukuba i-10% yezinto ezikhoyo , i- inventory , ipropati, izityalo kunye nezixhobo , kunye nazo zonke ezinye zazo.
Ukulungelelanisa oku, iBerkshire Hathaway kwafuneka ukubala i-Rose share of everything kwaye uyibeke phantsi kwecandelo lesigxina somncinci. Ekubeni le nto yayingaphambi kwe-2008 kunye no-2009 ukulawula utshintsho-mthetho, emva koko, inzala encinci iboniswe njengetyala (ityala) kwi-balance sheet yeBerkshire Hathaway. Namhlanje, ukuba ukhangela i-balance sheet yaseBerkshire Hathaway, phakathi kwezinto ezininzi ezincinci ezihlanganiswe phantsi kwecandelo lolingana nabanini-mali ngabanabelo baseNebraska Furniture Mart abanamadlalifa kaRose Blumkin. (Le mihla, i-Berkshire Hathaway inayo i-80% ye-Nebraska Furniture Mart kunye neentsapho ze-Blumkin i-20% emva kwesigqibo esilandelayo sokusebenzisa i-10% yenkampani ngaphezulu kwe-10% eyayiyigcina ngexesha lokufumana .)
Xa ukhangela iqela lesigqithiso lesincinci kwibhalansi, kungabikho ukulawula okungafunekiyo kuya kufakwa amafemu athile apho unomdla osenzela khona. Ngenxa yoko, kuya kufuneka uphande isakhiwo somthetho soshishino lomzali, ufumane ngokuchanekileyo ukuba yeyiphi inxalenye yesibonelelo ngasinye. Ngamanye amaxesha udibana neemeko apho ishishini elithengiswa ngorhulumente lilawula isabelo esikhulu somnye ishishini lokuthengisa, mhlawumbi ngokusebenzisa iifestile ezipinki. Kule meko, kunokwenzeka ukuba utyalomali kwisibonda senzalo ngqo. Kunokuba nzima ukukwenza, ingakumbi ngeengcali, kodwa kubonisa amathuba anomdla ngezikhathi ezithile.
1.) Inkampani inokudibanisa iphepha lokulinganisela lenkxaso yalo ukuba linayo i-80% okanye ngaphezulu. Ingabika ingeniso ye-subsidiary ukuba inayo i-20% okanye ngaphezulu.