Yiyiphi i-Debt-Term Debt in Sheet Sheet?
Inani lemali elide elide kwiphepha lokulinganisela lenkampani lithetha ngemali inkampani inemali yokuba ayikulindelanga ukubuyiselwa kwiinyanga ezilishumi elinesibini ezizayo.
Khumbula ukuba amatyala akulindeleke ukuba abuyiselwe kwiinyanga ezilishumi elinesibini ezilandelayo zichazwe njengeemfanelo ezikhoyo . (Kucacisiwe nje, amatyala ahlawulwayo kwiinyanga ezizayo ezi-12 awamatyala amanje, kwaye amatyala ahlawulwa emva kweenyanga ezili-12 ezizayo zizixa-mali ezide.)
Luhlobo luni lwamatyala olwenza ityala lexesha elide? Ithuba lexesha elide lingaba nezibophelelo ezinjengeemali zokubambisa kwizakhiwo zoshishino okanye umhlaba, iimali-mboleko zoshishino ezibhalwe ngamabhanki ezorhwebo, kunye neebhanki zenkampani ezikhutshwe ngoncedo lwamabhanki otyalo-mali kwiingxowa-mali ezingeniso-mali ezixhomekeke kwingeniso yenzalo. Abaphathi beenkampani, ngokubambisana nebhodi yabalawuli , badla ngokusetyenziswa kwetyala lexesha elide ngenxa yezizathu ezininzi kubandakanywa, kodwa kungaphelelanga:
- Ukukhula koxhaswa kunye nokufumana ngaphandle kokuhlalutya abanini bempahla;
- Ukusebenzisa ubuninzi bezinga lentengo ephantsi xa kunokwenzeka ukuphakamisa imali emininzi kakhulu, mhlawumbi ngaphantsi kwexesha elide lokunyuka kwamaxabiso ngokubanjiswa kwentlawulo yengeniso kuye kwaqwalaselwa, ukulondoloza ukusetyenziswa kwexesha elizayo; kwaye
- Ukuhlawulela izabelo ngokusebenzisa iinkqubo zokuthenga i-stockback ukuze iisabelo ezisele zimelele ubuninzi obunini kwishishini.
Xa inkampani ihlawula amatyala ayo kunye namanqanaba e- asethi angoku ayenyuka, ingakumbi kwiminyaka emininzi kumqolo, ibhajethi ithi "iphucula". Nangona kunjalo, ukuba iimali zenkampani zanda kwaye ixabiso likhoyo liyancipha, kuthiwa "lihla".
Iinkampani ezinexesha elide lexesha elide, ezithe zafumana ingxaki kwixa elilodwa okanye enye, ingozi yokuba neyona ntsebenzo encinci okanye ilahlekile ukuhlawulwa kwekhuphoni kunye nokukhutshwa kwinkundla yebhanki. Ngakolunye uhlangothi, ingaba isicwangciso esilumkileyo sokwenza i-balance sheet, ukuthenga i-intanethi, isitokisi kunye nomgqomo, ukubuyisela loo matyala emva kwexesha usebenzisa i-injini eyenza ngokudibanisa imali ehlanganiswe phantsi kwephahla elilodwa .
Unokuyichazela njani ukuba inkampani inexesha elide leexesha elide? Kukho izixhobo ezininzi ezifuneka zisetyenziswe kodwa enye yazo iyaziwa njenge-rate-to-equity ratio.
Ukulinganiswa Kwetyala-kuya-Elinganisweni kunye Nokuba Kutheni Kubalulekile Ukuba Uhlalutyo Lwahlukileyo Lwephepha
Isixa-mali sokulingana sichaza ukuba uninzi kangakanani inkokhelo inkampani enxulumene nomthamo wayo. Yenza oku ngokuthatha iityala zenkampani kunye nokuhlula ngokulingana kwabanikazi . (Asinakugubungela ukulingana kwabanikazi bamashishini, kodwa kunjalo, kodwa kamva siya kulandela kwesi sifundo. Okwangoku, kufuneka ufumane kuphela ukuba inombolo inokufumaneka kwizantsi le-balance sheet. Ukulinganiswa kwetyala-ukulingana kwamanye iinkampani kwicandelo lesibini xa sibheka kwiibhalithi ezahlukeneyo.)
Isiphumo osifumana emva kokuhlukanisa amatyala ngokulingana yipesenti yenkampani enetyala (okanye "i-leveraged"). Umgangatho wesintu owenziwe ngamatyala utshintshile ngokuhamba kwexesha kwaye kuxhomekeke kwimibandela yoqoqosho kunye noluntu jikelele oluvakalelwa ngetyala. Yonke into elinganayo, nayiphi na inkampani ene-matyala-equity ratio ephezulu kwama-40% ukuya kuma-50% kufuneka ibhekiswe ngenyameko ukuze iqinisekise ukuba akukho mingcipheko enkulu ekhuselekileyo kwiincwadi, ingakumbi ukuba loo mngcipheko ingabonakalisa ingxaki . Ukuba ufumana i-capital work company, kunye nomyinge wamanje / ukulinganisa okukhawulezayo, oku kuwuphawu lobuthathaka obuthakathaka bemali. Kubaluleke kakhulu ukuba ulungelelanise iinombolo zokufumana inzuzo kumjikelo wezoqoqosho. Imali eninzi ilahlekile ngabantu abasebenzisa umvuzo ophezulu ngexesha lexesha lokuqhawula njengendlela yokulinganisa ikhono lenkampani lokubuyisela izibophelelo zalo.
Musa ukuwela kuloo mgibe. Xa uhlalutya iphepha lokulinganisela, uthathe uqoqosho luya esihogweni kwisibhengezo sesandla uze uzibuze ukuba ucinga ukuba iimfanelo kunye neemfuno zokuhamba kwemali ziyakuthi zikhutshwe ngaphandle kokuba ukhuphiswano lwenkampani lixhatshazwe ngenxa yokugqithiswa kweendleko zemali. izinto ezifana nepropati, izityalo kunye nezixhobo . Ukuba impendulo "ayikho," qhubeka ngokuqapha okukhulu.
Ukusetyenziswa kweTyala lexesha elide kunokuba luncedo kwiiNkampani ezininzi
Ukuba ishishini linokufumana umlinganiselo ophezulu wokubuyisela kwixabiso eliyinkunzi ngaphezu kweendleko zentengo eyenza ukuboleka loo mali, kunenzuzo yokuba ishishini liboleke imali. Oko akusoloko kuthetha ukuba kubulumko, ingakumbi ukuba kukho umngcipheko we-asset / debt responsibility, kodwa kuthetha ukuba inokunyusa umvuzo ngokuqhubela phambili ukubuyela kwi-equity . Ukufumana ingqondo emathematika phakathi kwakho, oku kuphunyezwe ngokunyusa umphindisi wokulingana kwimbuyekezo yeDuPont yefom ye-equity formula .
Iqhinga liwukuba ulawulo lukwazi ukuba likhulu kangakanani ityala elingaphezu kweqondo lolawulo lobulumko. Isisombululo sinokukhohlakala njengoko amajelo abuya kwi-sideside kodwa angasusa abanini kakhulu ngokukhawuleza ukuba izinto zihamba ezantsi kummandla wezoqoqosho okanye ukuxinezeleka. Akunjalo imeko ofuna ukuzifumana ngayo xa imali yentsapho yakho isekho. Ukuze ufunde kabanzi malunga nesi sihloko, funda iNgqungquthela yoLwakhiwo lweNkunzi .
Enye indlela iimarike zamahhala zigcina iinkampani zikhangelelwe ngabatyalomali abasabela kwiingqinisiso zotyalo-mali. Abatyalomali bafuna ixabiso elincinci lomyinge njengenxephezelo yokutyalomali kwiindawo ezibizwa ngokuba yi-bound investment bonds . Iibhondi zebhanti eziphezulu kakhulu, ezo zithweswe iinqununu zenkxaso ye- Triple-A , zihlawulela inani eliphantsi. Oku kuthetha ukuba imali yenzalo iphantsi kwaye inzuzo iphezulu. Ngomnye umgca weembonakalo, izibophelelo ezingenayo i-junk zihlawula iindleko eziphezulu kakhulu zenzalo ngenxa yokunokwenzeka okwenyukayo. Oku kuthetha ukuba iingeniso ziphantsi kunokuba ziza kwenzeka ngenxa yeendleko eziphezulu.
Olunye umngcipheko kubatyalomali njengoko libhekiselele kwi-matyala ede elide xa inkampani ithatha imali-mboleko okanye imiba yeebhanki ngexesha lokuhlala kwezinga eliphantsi. Nangona le nto ingaba isicwangciso esiqilileyo, ukuba isantya somdla sisuka ngokukhawuleza, kunokubangela ukufumana inzuzo encinci xa ezo zibophelelo zifuneka zilungiswe. Ukuba oko kuveza ingxaki kwaye ulawulo alulungelanga ngokwaneleyo ixesha elide, kungekho kwiimeko ezingaqhelekanga, mhlawumbi lithetha ukuba iqumrhu lingalawulwa kakubi.