Chng trnh Ging dy Kinh t Fulbright

2006-2007

Bi ging 9

Nguyn l k ton

Chng trnh Ging dy Kinh t Fulbright

Tp. H Ch Minh, Vit Nam

Nin kho: 2006-2007

Nguyen ly ke toan

Nguyen Tan Bnh

8/17/2006

Bi ging 9

Phn tch
Bo co ngn lu
8/17/2006

Nguyn Tn Bnh

Nguyen Tan Bnh

Chng trnh Ging dy Kinh t Fulbright

2006-2007

Bi ging 9

Nguyn l k ton

Bo co ngn lu quan trng

nh th no?
Th hin bc tranh hon chnh hn v
hin trng ti chnh ca doanh nghip.
Nhiu doanh nghip ln b tht bi do
khng qun l c dng ngn lu
ca h.
V hy nh, bo co ngn lu l bo
co bt buc theo chun mc k ton
quc t v ca nhiu quc gia.
Vit Nam?
8/17/2006

Nguyen Tan Bnh

Phn tch bo co ngn lu

Bo co ngn lu cho thy tnh hnh hot
ng kinh doanh mt cch tng qut ca
cng ty qua cc giai on pht trin khc
nhau.
nh gi kh nng tr n ng hn
D bo dng ngn lu tng lai

8/17/2006

Nguyn Tn Bnh

Nguyen Tan Bnh

Chng trnh Ging dy Kinh t Fulbright

2006-2007

Bi ging 9

Nguyn l k ton

Phn tch bo co ngn lu

Bin dng ngn lu ca 04 Cng ty I, II, III, IV

Hoat ong

II

III

VI

Hoat ong kinh doanh

(6)

12

35

Hoat ong au t

(14) (22) (10) (2)

Hoat ong tai chnh

20

10

Tong ngan lu rong (1)

(25) (6)
0

(1) Gia nh khong co chenh lech (Cuoi ky au ky) trong tien mat ton quy.
Nguyen Tan Bnh

8/17/2006

Phn tch bo co ngn lu

Cng ty I
I

II

III

VI

Hoat ong kinh doanh

(6)

12

35

Hoat ong au t

(14) (22) (10) (2)

Hoat ong

Hoat ong tai chnh

20

10

Tong ngan lu rong

(25) (6)
0

Cong ty I, la mot minh hoa cua mot doanh nghiep mi

thanh lap hoac ang co san pham mi, tang trng nhanh.
ay la giai oan cha co lai nhieu, khoan phai thu tang (do
chnh sach ban chu) va hang ton kho tang. Ngan lu rong t
hoat ong kinh doanh am (-6) la do chi nhieu hn thu. Cong
ty a huy ong von kha ln (20) e phuc vu cho hoat ong
kinh doanh va au t (-14) trong giai oan nay
8/17/2006

Nguyn Tn Bnh

Nguyen Tan Bnh

Chng trnh Ging dy Kinh t Fulbright

2006-2007

Bi ging 9

Nguyn l k ton

Phn tch bo co ngn lu

Cng ty II
Hoat ong

II

III

VI

Hoat ong kinh doanh

(6)

12

35

Hoat ong au t

(14)

(22)

(10)

(2)

Hoat ong tai chnh

20

10

(25)

(6)

Tong ngan lu rong

Cong ty II, the hien mot doanh nghiep co thi gian hoat ong lau
hn cong ty I, nhng nhn chung van la doanh nghiep ang giai
oan phat trien nhng toc o phat trien a cham lai. Hoat ong co
lai va a tao c dong ngan lu rong dng t hoat ong kinh
doanh (12). Tuy nhien ngan lu t hoat ong kinh doanh khong u
e au t nha xng thiet b (-22), nen van can phai huy ong
them von (10).
Nguyen Tan Bnh

8/17/2006

Phn tch bo co ngn lu

Cng ty III
Hoat ong

II

III

VI

Hoat ong kinh doanh

(6)

12

35

Hoat ong au t

(14)

(22)

(10)

(2)

Hoat ong tai chnh

20

10

(25)

(6)

Tong ngan lu rong

Cong ty III, the hien mot doanh nghiep a phat trien nh

cao va on nh, tao c dong ngan lu rong t hoat ong
kinh doanh ln (35). Doanh nghiep dung tien thu c
nay au t them tai san co nh va (co the) au t vao
cong ty khac (-10), thanh toan n vay, va (co the) chia co
tc, mot cach tra von lai cho co ong (-25).
8/17/2006

Nguyn Tn Bnh

Nguyen Tan Bnh

Chng trnh Ging dy Kinh t Fulbright

2006-2007

Bi ging 9

Nguyn l k ton

Phn tch bo co ngn lu

Cng ty IV
Hoat ong

II

III

VI

Hoat ong kinh doanh

(6)

12

35

Hoat ong au t

(14) (22) (10) (2)

Hoat ong tai chnh

20

10

Tong ngan lu rong

(25) (6)
0

Cong ty IV, hnh anh cua mot doanh nghiep bat au i

xuong (sau khi at en nh). Ngan lu t hoat ong kinh
doanh van dng nhng a bat au giam (8). Cong ty
cung giam au t vao nha xng thiet b do nganh hang
ang tren a giam sut (-2). a s dung dong ngan lu t
hoat ong kinh doanh e tra n vay va chi tra co tc (-6).
Nguyen Tan Bnh

8/17/2006

Cong ty REE
(n v: 1000 VN)

Khoan muc

REE

(Ngay 31/12)
Lai trc thue
ieu chnh khau hao

6,223,311

2003
15,687,516

(+/-) Thay oi trong von lu ong

-9,073,344 -11,970,108

I. Ngan lu t hoat ong kinh doanh

33,372,004

II. Ngan lu t hoat ong au t

III. Ngan lu t hoat ong tai chnh

52,107,606

-125,987,097 -52,178,690
67,860,884

-9,439,747

-24,754,209

-9,510,831

Tien ton quy au ky

50,087,490

25,333,281

Tien ton quy cuoi ky

25,333,281

15,822,450

Tong ngan lu rong (I+II+III)

8/17/2006

Nguyn Tn Bnh

2002

36,222,037 48,390,198

Nguyen Tan Bnh

10

Chng trnh Ging dy Kinh t Fulbright

2006-2007

Bi ging 9

Nguyn l k ton

BAO CAO NGAN LU (trieu o-la)

Microsoft Corporation

2003

2004

2005

HOT NG KINH DOANH

Li nhun rng

7,531

8,168

12,254

Khu hao

1,393

1,186

855

Cc khon iu chnh vn lu ng

6,873

5,272

3,496

Ngn lu rng t hot ng kinh doanh

15,797

14,626

16,605

(7,495)

(3,342)

15,027

(5,223)

(2,364)

(41,078)

3,079

8,920

(9,446)

HOT NG U T
Ngn lu rng t hot ng u t
HOT NG TI CHNH
Ngn lu rng t hot ng ti chnh
Tng ngn lu rng
Thay i t gi hi oi

61

27

Tn qu tin mt u k

2,217

5,357

14,304

Tn qu tin mt cui k

5,357

14,304

4,851

8/17/2006

Nguyn Tn Bnh

Nguyen Tan Bnh

(7)

11