BI TP QUN TR TI CHNH (Dng cho sinh vin lp QTK3A + QTK3B) Cu 1: Mt nm trc (nm 2008) cng ty c mua mt my, chi

ph (gm c lp t v chy th) l 540 triu VND. D n ny cho li nhn trc thu l 9*X tr VND, khu hao theo ng thng, c thi gian s dng k thut l 5 nm. Hin nay ngoi th trng c mt loi my mi hin i hn, c cng sut cao hn, cho SP nhiu hn my c. Chi ph cho my mi (gm c lp t v chy th) l 800 tr VND, my khu hao theo ng thng, c thi gian s dng l 5 nm, thu nhp trc thu d kin cao hn my trc 2.5 ln. Ban qun l cty ang cn nhc c nn thay my c bng my mi hay khng, bit rng, nu bn li my c th s thu li c 300 tr VND. Cho thu thu nhp doanh nghip l 25%, chi ph s dng vn ca cng ty l 18%. HI C NN THAY MY C HAY KHNG? (X l s th t theo danh sch lp) Cu 2: Khch sn VENUS trc thuc cng ty du lch thng ph c 400 phng, gi thu phng trung bnh l 60 USD/ngy. Khch sn d ton rng nu 100% s phng c thu trong 1 thng th tng chi phi 544.000USD/thng vi tng bin ph ch t 36% so vi tng nh ph. Gi s 1 thng c 30 ngy. Thu thu nhp ca khch sn l 30% Yu cu: 1. Hy tnh s phng bnh qun c khch thu mi ngy t im ho vn 2. Bao nhiu phng c thu trong 1 thng khch sn t mc li nhun sau thu l 70.000USD/thng . V th im ho vn, xc nh li gp, li rng (trc thu) bng th v kim tra li bng cng thc

3. Gi nh rng khch sn c nhng li tc khc trong thng t vic s dng mt bng trong khch sn - Tin cho thu nhng gian hng: 60.000USD - Phc v cc ba n, hi ngh: 30.000USD - Phng n v quy gii kht: 30.000USD - Cu lc b, qun n: 20.000USD Nu tng nh ph v bin ph n v ca khch sn khng i khch sn c 400 phng v trung bnh c 80% s phng c thu hng ngy. Gi thu phng mi ngy ca khch sn pha tnh l bao nhiu mc li nhun sau thu l 70.000USD/thng Cu 3: Cng ty gch men Thanh Thanh d kin mua 1 dy chuyn sn xut gch cng ngh mi ca Italia thay th dy chuyn c. Nguyn gi ca dy chuyn mi l 25 t ng v c trch khu hao theo phng php ng thng vi thi gian khu hao l 5 nm. Khi a vo hot ng d kin EBIT ca dy chuyn mi nm th nht l 8 t ng v nm sau tng so vi nm trc l 5%. Ngoi ra dy chuyn ny cn vn lun chuyn ban u 4 t ng v c thu hi khi kt thc d n. D kin khi kt thc d n dy chuyn mi ny c th bn c 7 t ng ( tr thu thu nhp DN). Dy chuyn c mua cch y 5 nm vi nguyn gi 10 t ng, thi gian khu hao 10 nm theo phng php ng thng, EBIT ca dy chuyn ny l 4 t ng/nm v khng thay i qua cc nm. Hin nay dy chuyn ny c th bn c 5 t ng cha tr thu thu nhp doanh nghip. Khi thay th dy chuyn mi cng ty d ra mt nh xng v cho cng ty Bng thu lm ni tp kt nguyn liu vi thu nhp mi nm l 0,4 t ng cha tr thu TNDN. Bit rng thu TNDN l 25% Yu cu:
1. Tnh u t thun ca d n

2. Xy dng dng tin ca d n

3. Thm nh d n bng cc tiu chun NPV, IRR, PI Cu 5: Cng ty nh Phng ang cn thm mt dy chuyn sn xut mi c gi bn trn th trng hin nay l 1.000 triu ng m rng quy m sn xut. Cng ty ang xem xt ba phng n ti tr nh sau: - Phng n 1: Cng ty s ti tr bng vn ch s hu, ngha l cng ty s s dng vn ch mua dy chuyn trn. - Phng n 2: Ti tr bng vn vay ngn hng, nu vay th mi nm cng ty s phi tr cho ngn hng s tin l 350 triu ng/nm trong thi gian 5 nm. - Phng n 3: Ti tr bng hnh thc tn dng thu mua vi s tin thu phi tr nh sau: nm th nht tr 300 triu ng, sau s tin thu mi nm tng 10% so vi tin thu ca nm trc. Khon tin thu u tin cng ty phi thanh ton l sau khi thu mt nm v thi hn thu ti sn trn l 5 nm. Nu li vay ngn hng l 13%/nm, vy cng ty nn chn phng n ti tr no? Cu 6: Nu by gi bn gi mt s tin l 100 triu ng vo mt ti khon ngn hng vi li sut hng nm l 10%/nm th hi sau bao lu bn s c s d trong ti khon l 150 triu ng? Cu 7 u nm Cng ty vt t thit b bu in A mua mt TSC v c quyn chn mt trong 2 hnh thc thanh ton nh sau: - Phng n A: Tr trong vng 10 nm mi nm tr 50000USD vo cui mi nm - Phng n B: Tr mt ln duy nht sau 4 nm vi s tin l 450000USD - Cng ty nn la chn hnh thc thanh ton no bit rng li sut c tnh l 12%/nm.

Cu 8: Cng ty xy dng cng trnh ngm thuc Tng cng ty xy dng X ang ng trc s la chn mua chic my pht b tng A hay B. Nu mua my A c gi 10000 USD, c li nhun sau thu 2000USD/nm. Nu mua my B c gi 12000USD, c li nhun sau thu 2300USD/nm. C 2 my c thi gian s dng l 1 nm v gi tr thanh l bng 0. Khi mang ra tho lun trc cuc hp th c 2 kin tri ngc nhau v dng phng php no la chn d n. ng gim c cng ty xy dng cng trnh ngm dng tiu chun NPV vi i=10% cn ng k ton trng li dng tiu chun IRR. Theo anh ch gii quyt th no cho ph hp. Cu 9: Tp on Ha Pht cn n hng trm chng loi nguyn liu t nhiu nh my cung cp khc nhau. Mi mt hng c mt nh thu a phng cung cp vi chi ph t hng l 1.250.000 ng cho mi ln t hng. Trong nm ti cng ty cn khong 1200 n v ca nh cung cp ny, chi ph tn kho d tr trn mi n v hng tn kho l 300.000 ng. Hy p dng m hnh EOQ tr li cc cu hi sau: a. Vit phng trnh biu din chi ph t hng v chi ph lu kho ca n v b. S lng t hng ti u ca mt hng ny l bao nhiu? Mc tn kho bnh qun ti u l bao nhiu/ c. Hy xc nh s ln t hng ti u trong mi nm v tng chi ph tn kho hng nm. d. Nu thi gian giao hng l 10 ngy, th im t hng li vo thi im no?

Cu 10: Tnh hnh vn lu ng ca mt doanh nghip trong ngnh Bu chnh vin thng trong nm X nh sau: Ngy Vn lu ng) 01/1 ng (triu 600 31/3 500 30/6 650 30/9 700 31/12 650

Doanh thu thun nm X l 450 triu ng. K hoch nm X + 1 nh sau: doanh thu thun 5300 triu ng, s ngy lun chuyn bnh qun mt vng quay vn lu ng (K lun chuyn vn lu ng) rt ngn 10 ngy so vi nm X a. Tnh k lun chuyn vn lu ng nm X b. Xc nh nhu cu vn lu ng nm X+1 Cu 11: Bu in H Ni d kin u t mt d n, vn u t vo cc nm nh sau: Nm th 1 l 60.000USD, nm th 2 l 40000USD. Sau 2 nm cng trnh hon thnh v a vo hot ng. D n trn c thi gian s dng 5 nm, doanh nghip s dng phng php khu hao theo ng thng, Sau 5 nm bn thanh l TSC c 15000USD. Khi a d n vo sn xut, d kin d n s lm tng li nhun sau thu hng nm ca n v nh sau: (n v triu ng) Nm Li nhun sau thu tng 1 2 3 4 5

10000 15000 20000 25000 30000 thm a. Hy cho bit c nn u t vo d n trn hay khng (Li sut 10%/nm) b. Khi li sut th trng tng, kt qu u t s nh hng nh th no c. Khi DN s dng phng php khu hao nhanh, kt qu u t s nh hng nh th no? Cu 12:

Mt DN sn xut nm 2011 c s lng sn phm tiu th l 15.000 sp. Nm 2012 c s liu nh sau: - S lng sn phm A tiu th trong nm theo hp ng l 20.000sp. Gi bn l 200.000 ng, h 10% so vi nm 2011. - Gi thnh sn xut l 120.000 ng, h 5% so vi nm 2011 - S lng sn phm tn kho cui k nm 2012 bng 10% s lng sn phm tiu th trong nm. - S lng sn phm tn kho u nm l 4000sp - Chi ph bn hng v chi ph qun l DN phn b cho sp A d tnh bng 10% tng gi thnh sn xut nm 2012. - Thu sut thu TNDN l 28% - S lng sp A tn u k nm 2012 c tiu th ht. a. Hy xc nh tng mc doanh thu ca doanh nghip nm 2011 v nm 2012 b. Xc nh tng mc li nhun trc thu ca DN v s thu TNDN phi np nm 2011 v 2012. c. Hy so snh mc tng, gim li nhun ca nm 2012 so vi nm 2011, t rt ra nhn xt. Cu 13: C 2 doanh nghip A v B cng kinh doanh mt loi sn phm, cng trn mt th trng, cng c cc iu kin nh nhau, ch khc nhau v kt cu chi ph sn xut v kt cu ngun vn. - Doanh nghip A c nh ph l 44000USD, bin ph l 13USD/1sp - Doanh nghip B c nh ph l 34000USD, bin ph l 15,4USD/1sp Tng s vn kinh doanh ca A v ca B u l 200000USD, trong h s n ca A, B ln lt l 60% v 40%, trong khi li sut vay bnh qun l 10%/nm v thu sut thu TNDN l 28%. Bit gi bn sn phm l 25USD/1sp v c hai u tiu th c 5000 sp.

a. Hy tnh li nhun trc thu v li vay ca DN A v B mc sn lng ha tiu th 5000 sp b. Khi sn lng tiu th ca A v B u t 5000sp th ln ca n by kinh doanh ca doanh nghip A v B l bao nhiu. Hy cho bit DN no c u th hn v mc tng li nhun khi c 2 u c mc tng sn lng v doanh thu. c. Hy tnh mc nh hng ca n by ti chnh khi c hai u t sn lng tiu th 5000sp. d. Nu c 2 DN u c t l tng li nhun trc thu v li vay, th t sut li nhun trn vn ch s hu ca DN no thay i nhiu hn? Ti sao? Cu 14: Mt DN c bng cn i k ton n ngy 31/12/N nh sau (triu ng) TI SN S TIN NGUN VN S TIN I. Ti sn c nh 6000 I. N phi tr 3000 Nguyn gi 7500 Khu hao ly k (1500) II. Ti sn lu ng 2000 Ngun vn ch s hu 5000 Tng cng 8000 8000 Trong TSC thuc cng trnh phc li (nh tr, nh n cho cn b) l 500 triu ng. Phn ti sn trch khu hao c hnh thnh t cc ngun sau: Vn ngn sch nh nc cp: 4000, vn t c u t xy dng c bn: 1000, vn vay di hn ngn hng: 2000 Cc TSC ca DN c chia thnh 4 nhm c t l khu hao nh sau: STT 1 2 3 4 Nhm Phng tin vn ti Thit b vn phng Nh ca My mc thit b Nguyn gi 500 1000 1500 4000 T l khu hao (%) 10 15 5 12

DN d kin trong nm k hoch nh sau: - Trong thng 1 s mua mt s thit b tr gi 200 triu ng bng vay vn di hn ngn hng.

- Trong thng 2 d kin thanh l mt s thit b vn phng, nguyn gi 100 triu ng khu hao 20 triu ng, thuc vn ngn sch nh nc cp. - Trong thng 4 d kin lp t h thng my iu ha cho b phn vn phng tr gi 150 triu t ngun vn t c u t xy dng c bn - Trong thng 7 d tnh khnh thnh mt ca hng kinh doanh tr gi 500 triu ng t ngun vn t c u t xy dng c bn. - Trong thng 12 DN d kin mua thm mt s phng tin vn ti tr gi 100 triu bng vn t c u t xy dng c bn. a. Xc nh phm vi TSC phi tnh khu hao v nguyn gi TSC phi khu hao u k k hoch b. Xc nh mc khu hao TSC cho nm k hoch theo phng php khu hao theo s d gim dn c iu chnh. c. Nu nguyn tc phn phi v s dng qu khu hao. Phn phi tin trch khu hao nm k hoch ca doanh nghip bit rng ton b s tin khu hao c bn ca TSC c hnh thnh t vn ngn sch nh nc c li DN ti u t xy dng, mua sm TSC. Cu 15: Cng ty X chuyn sn xut mt loi sn phm c gi bn 80.000/sn phm. Chi ph bin i trn 1 n v sn phm 45.000, tng chi ph c nh l 3,5 triu ng. a. Xc nh sn lng ha vn ca cng ty b. Xc nh mc n by hot ng ti mc sn lng 200 sn phm. Cho bit ngha ca mc n by ny? c. Nu cng ty phi tr tin li vay l 1,2 triu ng. Tnh mc n by tng hp v cho bit ngha ca n by tng hp?