Utyalo-mali Isifundo 4 - Ukuhlalutya ingxelo yeNgeniso
Ubulungisa bezabanikazi ngumveliso we-accounting omele ixabiso elidalwe yimali egcinwe yoshishino kunye nenkunzi ehlawulwayo yabanini.
Kutheni kubuyela kwi-Equity (ROE) ebalulekileyo?
Ibhizinisi elinokubuyiselwa okuphezulu kwi-equity liyakwazi ukuba yinto ekwazi ukuvelisa imali ngaphakathi. Ngona nxalenye enkulu, ukubuyela kwekhampani ngokulingana nokulingana kweshishini layo, bhetele (ngaphandle kokuba ingafezekanga ngengozi enkulu). Oku kuya kucaca nakwi-investor-less-aster. Ukuba unomnini-shishini onelungelo lokubambisa i-dollar eyi-100 yezigidi zeedola kwaye wenza i-$ 5 yezigidi kwinzuzo, iya kuba ne-5% kwi-equity ($ 5 ÷ $ 100 = .05, okanye i-5%). Ukuphinda uphinde uphendule iphuzu langaphambili, phezulu ungayifumana "ukubuya" kubulungisa bakho, kulo mzekelo, u-5%, ungcono. Enyanisweni, isitshixo ekufumaneni izitokhwe eziza kubenza zizityebi kwixesha elide liquka ukufumana iinkampani ezinokukwazi ukuvelisa ukubuyisela, ukubuyiswa kwemali ngokulinganayo kwiminyaka emininzi kwaye uzuze ngexabiso elifanelekileyo .
I-Formula yokubala ukubuyela kwi-Equity
Ifom ye-Return to Equality ilula kwaye kulula ukuyikhumbula:
- Inzuzo Eyona Nqanaba ÷ Umlinganiselo Wabalingani Bama-Period = Buyisela kwi-Equity
Khangela iingxelo ezifanayo zemali endinike zona kuMartin Stewart Living Omnimedia ngasezantsi kwephepha. Ngoku ukuba sinemali yengeniso kunye nephepha lokulinganisela phambi kwethu, umsebenzi wethu kuphela ukucwangcisa amanani kwi-equation yethu.
Ingeniso ye-2001 yayingama-21,906,000 ayi-$. (Ngenxa yokuba izixa zisezinkulungwane, thabatha isibalo esibonisiwe, kwimeko apha, u-$ 21,906, kwaye wande nge-1,000. Phantse zonke iinkampani ezithengiswa ngurhulumente zifutshane-zinike ingxelo zabo zezimali kwiwaka okanye kwizigidi ukugcina indawo). Ubungakanani bemali yabanini-mali bexesha eli li-$ 209,154,000 (($ 222,192,000 + $ 196,116,000) ÷ 2).
Masifake amanani ekubuyiselweni kwendlela yokulingana:
- Imali eyi-21,906,000 yokufumana imali ÷ $ 209,154,000 ukulingana kwemali yabanini-mali kwixesha = 0.1047 ukubuya kwi-equity, okanye 10.47%.
Le 10,47% yintlawulo yokubuyiselwa kolawulo olulinganayo kumlingani wabanini-mali. Ngaba oku kulungile? Kwiininzi zekhulu lemashumi mabini, i-S & P 500, umlinganiselo weenkampani ezinkulu zorhulumente zaseMelika, ii-ROE ezi-10% ukuya kwi-15%. Kwiminyaka ye-1990, ukubuyisela okulinganayo kwi-equity kwaba ngaphezu kwama-20%. Ngokucacileyo, aba manani abangamashumi amabini anesibini abayi kuhlala ngonaphakade ngaphandle kokuba ukholelwe ukuba ukunyuka komkhiqizo okwenziwe ngeteknoloji kuye kwatshintsha ngokucacileyo umgaqo-mpahla wezoqoqosho ngendlela efanayo nokuguqulwa kwamashishini okutshintshiselwa ngokusisigxina.
Ukubuyela ngokubaluleka kubaluleke kakhulu kuba kunokukunceda unqumle udoti ochithwe yi-CEO eninzi kwiingxelo zabo zonyaka malunga, "ukufeza irekhodi".
UWarren Buffett wachaza iminyaka edlulileyo ukuba ukufumana umvuzo ophezulu kunyaka ngamnye ngumsebenzi olula. Ngoba? Unyaka ngamnye, inkampani ephumelelayo ivelisa inzuzo. Ukuba ulawulo aluzange lube nolondolozo lwaloo mali kwaye luzuze i-4% ngonyaka, baya kuba nako ukunika ingxelo "yokufumana irekhodi" ngenxa yenzalo. Ngaba ngaba abanini-mali babeneengcono? Ingayiyo. Mhlawumbi hayi. Ukuba bahlawula loo mpahla njengezabelo, abanini-mali babenokubafaka imali kwaye mhlawumbi bafumane amazinga aphezulu okubuyisela. Oku kubonakala ngokucacileyo ukuba abatyali-mali abayikwazi ukujonga ukunyuka kwama-share share annual year as a sign of success. Ukubuyiselwa kwamanani okulingana kuthatha ingqalelo imali efunyenwe kwiminyaka eyadlulileyo, kwaye uxelele abatyala-mali ukuba i-capital capital yabo iyayibuyiswa njani ngempumelelo. Ngaloo ndlela, isebenza njengendlela engcono kakhulu yokulawula ukuphathwa kwezemali kunokuba igalelo lonyaka lilonke ngesabelo ngokwahlukana.
Utshintsho kwi-Return to Equity Calculation
Ukubuyiselwa ekubalweni kwamanani kungabonakalisa kwaye kuyinkimbinkimbi njengoko ufuna. Iindawo ezininzi zezezimali kunye nezibonelelo zibala ukubuyela ngokulinganayo ngokuthatha imali engenayo kubanini-zimpahla eziqhelekileyo kwiinyanga ezili-12 zakutshanje kunye nokwahlula ngokulinganayo kwesabelo sabanini-mali kwiindawo zokugqibela ezihlanu. Abanye abahlalutyi baya kuthi "bahlaziywe" kwikota yakutshanje ngokuthatha nje imali engenayo kwaye bayayandisa ngokuphindwe kane. Inyiyo kukuba le nto iya kulingana nengeniso yonyaka yoshishino. Kwiimeko ezininzi, oku kungakhokelela kwiziphumo ezimbi kwaye ezingalunganga. Thatha ivenkile yokuthengisa njengeNkosi & Taylor okanye i-American Eagle, umzekelo. Kwezinye iimeko, i-50% yepesenti okanye ngaphezulu yengeniso yesitoreji kunye neengeniso ziveliswa kwikota yesine ngexesha lexesha lezentengiso zeKrisimesi. Umtyalo-mali makabe oqaphele kakhulu ukuba angayi kuphinda ahlawule imali yokufumana imali yamashishini atshanje.
Ukuba ufuna ukuqonda ngokwenene ubunzulu bokubuyiselwa kubulungisa, kufuneka uvula ithebhu entsha yesiphequluli, ushiye esi sifundo ngasemuva, kwaye uhambe ufunde Ukubuyela kwi-Equity - I-Model yeDuPont . Eli nqaku liza kuchaza izinto ezi-3 eziqhuba i-ROE nendlela onokugxila kuyo nganye ukunyusa ishishini lakho okanye ukuchonga umthombo wokukhula kwelinye inkampani; umzekelo, unokwazi ukuba ukuphucula kwangoku kwiingeniso kungenxa yokukhula kwamatyala endaweni yokusebenza okungcono ngabaphathi.
Eli phepha liyingxenye yoTyalo-mali lwesifundo 4 - Indlela yokufunda ingxelo yeNgeniso . Ukuze ubuyele ekuqaleni, khangela isiqulatho .
Iinkcazo ezivela kwiiNgxelo zezeMali zeMSO
| UMarta Stewart Uhlala Omnimedia, Inc. I-Excerpt-2001 ye-Consolidated Balance Sheet | ||
| (Ngamawaka ngaphandle kwedatha yesabelo ngasinye) | 2001 | 2000 |
| AmaNani aMaZwe aBonke | 222,192 | 196,116 |
| Iimfanelo ezipheleleyo kunye nokulingana kwamashishini | 311,621 | 287.414 |