TKMH VINH TRAN 2003 Final2

GVHD:Ths.
LE QUANG PHUC
VINH
SVTH:TRAN VAN
MC LC
MC LC............................................................................1
CHNG I: GII THIEU CHUNG........................................3
1.1 GII THIEU VE DOANH NGHIEP XAY DNG................3
1.1.1 Gii thieu chung ve doanh nghiep...................................................3
1.1.2. Nganh nghe kinh doanh:....................................................................5
1.1.3.Tnh hnh hoat ong cua cong ty:.....................................................5
1.1.4. nh hng phat trien :...................................................................7
1.1.4.1 Muc tieu ............................................................................................ 7
1.1.4.2 Chien luc phat trien trung va dai han:....................................7
1.1.5 S o to chc:.................................................................................... 8
1.1.6 Nguon nhan lc................................................................................. 8
1.2 PHAN TCH MOI TRNG KINH DOANH DOANH NGHIEP10

1.2.1 Moi trng tong quat:...................................................................10
1.2.2 Moi trng nganh:........................................................................... 13
CHNG II: PHAN TCH TNH HNH TAI CHNH CUA CONG
TY CO PHAN AU T VA PHAT TRIEN NHA
COTECLAND......................................................................14
2.1 PHAN TCH C CAU VA S BIEN ONG TAI SAN...14
2.1.1 Nhan xet chung:................................................................................ 14
2.1.2. Phan tch chi tiet c cau va s bien ong tai san ngan han:16
2.1.3. Phan tch chi tiet c cau va s bien ong tai san dai han:19
2.2 PHAN TCH C CAU VA BIEN ONG CUA NGUON

VON:................................................................................... 23
2.2.1.Nhan xet chung:................................................................................ 23
2.2.2 Phan tch chi tiet c cau va bien ong n phai tra:...............24
2.2.3 Phan tch chi tiet c cau va bien ong von chu s hu:.....28
2.3 PHAN TCH BAO CAO KET QUA HOAT ONG SAN
XUAT KINH DOANH..............................................................30
THIT KE MON HC PHAN TCH HOAT ONG KINH T
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2.3.1 Nhan xet chung:................................................................................ 32

2.3.2 Phan tch chi tiet thu nhap:.............................................................33
2.3.2.1 Doanh thu thuan t ban hang va cung cap dch vu..............34
2.3.2.2 Doanh thu t thu nhap khac:.......................................................35
2.3.3 Phan tch chi tiet chi ph:...................................................................36
2.3.3.1 Phan tch chi ph hoat ong kinh doanh:.......................................37
2.4 PHAN TCH BAO CAO LU CHUYEN TIEN TE............38

2.4.1.Nhan xet chung:................................................................................ 40
2.5 PHAN TCH CAC TY SO TAI CHNH...........................41

2.5.1 Phan tch cac ch tieu:...................................................................42
2.5.1.1 Ch tieu he so n:......................................................................42
2.5.1.2 He so t tai tr:...........................................................................42
2.5.1.3 Ty suat au t:............................................................................ 43
2.5.1.4 Ty suat t tai tr dai han:.......................................................43
2.5.1.5 Ty suat von co phan:................................................................44
2.5.2 Phan tch tnh hnh cong n va khan nang thanh toan:............44
2.5.2.1 Phan tch tnh hnh cong n:.........................................................44
2.5.2.2 Phan tch kha nang thanh toan:.................................................50
2.5.2.3 He so kha nang thanh toan tong quat:.................................51
2.5.2.4 He so kha nang thanh toan hien hanh:.................................53
2.5.2.5 He so kha nang thanh toan nhanh:..........................................54
2. 5.3 Phan tch hieu qua s dung von.................................................55
2.5.3.1 Hieu suat s dung tai san (so vong quay tai san)............55
2.5.4 Phan tch kha nang sinh li:..........................................................57
2.5.4.1 Phan tch suat sinh li cua doanh thu (ROS)...............................58
2.5.4.2 Suat sinh li cua tai san (ROA):................................................59
2.5.4.3 Suat sinh li cua von chu s hu (ROE)................................59
2.5.5 Phan tch hieu qua s dung von co phan:..............................60
2.5.5.1 Thu nhap mot co phieu pho thong (EPS)................................61
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2.5.5.2 Ty gia th trng/thu nhap cua moi co phieu thng (P/E):61

2.5.6 Phan tch Dupont cac ty so tai chnh:..........................................62
Nam 2011:.................................................................................................... 62
Nam 2012:.................................................................................................... 63
CHNG III : KET LUAN - KIEN NGH...........................64

3.1.KET LUAN..................................................................64
3.1.1.Nhan xet tom lc:.........................................................................64
3.2.KIEN NGH....................................................................64
3.2.1 oi vi cong ty:............................................................................... 65
3.2.2 oi vi nha nc:...........................................................................65
3.3 MOT SO GIAI PHAP CU THE:...................................66

3.3.1 Nguyen nhan:.................................................................................... 66
3.3.2 Cac giai phap:................................................................................. 66
3.3.2.1 Tang doanh thu :.............................................................................. 66
3.3.2.2 Quan ly tot chi ph:.......................................................................66
3.2.2.3 Nang cao hieu qua s dung vo co nh:................................67
CHNG I: GII THIEU CHUNG

1.1 GII THIEU VE DOANH NGHIEP XAY DNG
1.1.1 Gii thieu chung ve doanh nghiep
Lch s hnh thanh va qua trnh phat trien cua cong ty:
Ten doanh nghiep : Cong ty Co phan au t va phat trien nha
at Cotec Land
Ten tieng anh : Cotec investment and land-house development joint stock
company
Ten viet tat : CotecLand JSC
Tru s chnh : 14 Nguyen Trng To, Phng 12, Quan 4, Thanh
pho Ho Ch Minh.
TRANG 3

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ien thoai : (84) 08.54011888

Fax : (84) 08.54011088
Email : cotecland@cotecland.com.vn
Website : www.cotecland.com.vn
Ma so thue : 0303666737
Ma chng khoan : CLG
Von ieu le : 100.000.000.000 ong (Mot tram ty ong)
Tai khoan : 140.10000.865740 tai NH au t Phat trien Viet Nam CN Sai Gon.
Giay CNKKD : 0303666737 do S Ke hoach va au t TP.Ho Ch
Minh cap ngay 30/3/2010 (ang ky lan au ngay 28/01/2005)
Nhng s kien quan trong: Ngay 05/05/1993, Bo trng Bo Xay
dng ban hanh Quyet nh so 089A/BXD-TCL thanh lap lai Doanh
nghiep nha nc: Cong ty Ky thuat Xay dng va Vat lieu Xay
dng thuoc Lien hiep cac X nghiep Vat lieu Xay dng so 1
thuoc Bo Xay dng.
Ngay 04/01/2005, Bo trng Bo Xay dng ban hanh quyet nh so
04/Q-BXD ch ao trien khai co phan hoa Cong ty Ky thuat Xay
dng va Vat lieu Xay dng trong nam 2005
Ngay 18/11/2005, Bo trng Bo Xay dng ban hanh Quyet nh so
2155/Q-BXD chuyen Cong ty Ky thuat Xay dng va Vat lieu Xay
dng thuoc Tong cong ty Vat lieu Xay dng so 1 thanh Cong ty
co phan
Ngay 06/12/2005, Cong ty hoat ong di hnh thc cong ty co
phan vi ten goi Cong ty co phan Ky thuat Xay dng va Vat
lieu Xay dng ten giao dch la COTEC theo giay chng nhan ang
ky kinh doanh so 4103004103 do S Ke hoach va au t Thanh
pho Ho Ch Minh cap.
Trong qua trnh co phan hoa cong ty me la Cotec Group, cac x
nghiep trc thuoc nh Nha may Coterraz, Trung tam Kinh doanh Bat
ong san va hai X nghiep Xay lap cungc hng dan co
phan hoa theo quyet nh so 2013/Q-BXD ban hanh ngay 17 thang
12 nam 2004. Ngay 28/01/2005, Cong ty Co phan au t va phat
trien nha at Cotec (CotecLand) a thanh lap theo giay chng
nhan ang ky kinh doanh so 4103003080 cua S Ke hoach va
au t thanh pho Ho Ch Minh..
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T 30/07/2010, Cong ty a ang ky niem yet va giao dch len

San chng khoan TP.HCM theo Quyet nh so 158/Q-SGDHCM do S
giao dch chng khoan TPHCM cap.
1.1.2. Nganh nghe kinh doanh:
au t kinh doanh nha, moi gii, t van bat ong san, t van
au t.
Kinh doanh bat ong san, dch vu nh gia bat ong san, san
giao dch bat ong san, dch vu au gia bat ong san, dch vu
quang cao bat ong san, dch vu quan ly bat ong san.
Kinh doanh khach san; khu ngh dng.
Thiet ke kien truc cong trnh dan dung va cong nghiep, quan ly
d an cac cong trnh dan dung va cong nghiep, giam sat thi
cong xay dng cong trnh dan dung va cong nghiep, xay dng,
lap at, sa cha cac cong trnh dan dung, cong nghiep, cong
trnh ky thuat ha tang khu o th va khu cong nghiep; cac cong
trnh giao thong, cong trnh thuy li.
- Thi cong xay dng cac cong trnh cap thoat nc va x ly moi
trng; ng day, tram bien ap.
- Khai thac, san xuat, mua ban vat lieu xay dng.
- San xuat, mua ban thiet b nganh xay dng, ket cau thep tien
che; mua ban vat t, may moc, thiet b, phu tung thay the, day
chuyen cong nghe nganh xay dng, hang thu cong my nghe
- Kinh doanh du lch l hanh noi a.
- Quang cao, nghien cu th trng va tham do d luan, to
chc gii thieu va xuc tien thng mai.
1.1.3.Tnh hnh hoat ong cua cong ty:
- T khi thanh lap cho en nay, cong ty luon phan au gi vng
s tang trng ve doanh sova quy mo hoat ong, tng bc
hoan thien bo may quan ly va quy trnh lam viec e no lc tr
thanh mot trong nhng nha au t bat ong san chuyen nghiep
hang au tai Viet Nam.
- Giai oan au mi thanh lap t nam 2005 - 2008, cac hoat ong
cong ty tap trung nhieu cac mang xay lap, bat ong san,
san xuat gach, cac hoat ong thng mai trong o ty trong
mang xay lap chiem kha cao. Tuy nhien, bat au t nam 2009,
xac nh hng phat trien chnh la tr thanh nha au t bat
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ong san hang au tren th trng, cong ty dan tiem can hoat
ong chnh la kinh doanh bat ong san vi ty trong cao hn hoat
ong xay lap.
- Cung nh cac doanh nghiep Viet Nam va va nho khac, trc
cn bao khung hoang 2007 2008, hoat ong san xuat kinh doanh
cua Cotec Land gap nhieu kho khan va tr ngai. Tuy nhien, sau
nam 2008, cung vi s phuc hoi nhe cua nen kinh te, Cotec Land
cung tng bc khang nh mnh bang s tang trng cua nam
2009 va 2010.
Tren c s o, hien nay cong ty a va ang tap trung cac d an
het sc a dang va phong phu nh: Khu dan c, khu chung c cao
tang, trung tam thng mai, cao oc van phong va khu ngh dng
resort 5 sao. Cu the cac d an ve khu ngh dng cua cong ty bao
gom d an khu du lch bien Blue Sapphire Resort Vung Tau, d an
BlueSapphire Resort Phan Thiet, d an khu dan c, chung c th co d
an Blue Sapphire Bnh Phu, d an khu dan c Phu Xuan, d an Phu
Gia, khu nha Cotec Hng Phc 1, Cotec Hng Phc 2, ve d an
trung tam thng mai, van phong th co d an Blue Sapphire Tower
Vung Tau, d an Cotec Building
- Ngoai ra, trong giai oan kho khan nh hien nay, Ban ieu Hanh
cong ty cung ang co nhng nh hng m rong hng kinh
doanh sang mang y te - giao duc va mang gia cong, san xuat
hang o go noi that. Vi nh hng nay, ban ieu Hanh cong
ty hy vong se giai quyet bai toan ve von lu ong cho doanh
nghiep.
- Vi nhng thanh tch va tien bo trong thi gian qua, CotecLand
ngay cang khang nh c thng hieu cua mnh tren th trng
va c vinh hanh trao tang nhieu giai thng uy tn:
+ Bang khen cua Bo xay dng nam 2006
+ Cac cup vang cua hoi ch VietBuild nam 2006, 2007, 2008 va
2009
+ Huan chng lao ong hang III do Chu tch nc trao tang nam
2006 cho
Ong ao c Ngha Chu tch HQT cua Cong ty

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1.1.4. nh hng phat trien :

1.1.4.1 Muc tieu
- Cotec Land la mot trong nhng thanh vien cua Cotec Group, di
s tac ong tch cc va chien lc phat trien a nganh nghe cua
thng hieu COTEC, Cotec Land ang tng bc phan au e ngay
mot ln manh va hng theo con ng phat trien a nganh
nghe ma cong ty me a nh hng.
- Trong nh hng phat trien cho giai oan 2012 2016, Cotec Land
phan au se tr thanh mot thng hieu manh tren th trng
bat ong san tai TP. Ho Ch Minh noi rieng va ca nc noi chung.
- Ben canh o, vi muc tieu se nh v la mot trong cac n v
bat ong san hang au cua nganh, cong ty d kien lo trnh
tang von chu s hu tren 300 ty ong cho giai oan 2012 - 2016
e u kha nang thc hien cac d an co quy mo ln.
- Vi nhan nh th trng bat ong san se con nhieu kho khan
trong giai oan ti, cong ty nh hng se m rong mang hoat
ong kinh doanh sang th trng y te - giao duc va th trng o
go noi that. ay co the c xem la mot giai phap kha linh
hoat v se giai quyet c van e dong tien khi hien nay dong
tien trong cac d an bat ong san la rat kho thao g.
1.1.4.2 Chien luc phat trien trung va dai han:
Du nh hng phat trien a nganh nghe nhng Ban Giam oc
cong ty van xac nh lnh vc quan trong nhat cua cong ty van la
hoat ong au t - kinh doanh moi gii bat ong san. Hoat ong
nay cung vi hoat ong xay lap se chiem ty trong cao trong
toan bo c cau doanh thu va li nhuan cong ty trong thi gian ti.
ay cung chnh la lnh vc hoat ong se tao ra s phat trien ben
vng va lau dai cho cong ty.
- Ben canh o, tren c s kinh nghiem cua nhng nha au t
chuyen nghiep, Ban ieu hanh cong ty Cotec Land cung ang nh
hng au t cho cong ty ben mang y te - giao duc. ay c
xem la mot tam nhin ung an khi on au xu hng va cho en
thi iem nay, du ch mi i nhng bc c ban nhng cong ty
cung a gat hai c nhng thanh qua au tien trong viec tiep
can lnh vc nay.
- Ngoai ra, tren c s d an ngh dng sap i vao hoat ong,
cong ty cung ang nghien cu m rong hoat ong va nganh
nghe kinh doanh sang lnh vc thng mai va dch vu, cu the la hoc
hoi kinh nghiem quan ly nganh dch vu cua cac oi tac nh Swiss
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Bel Hotel... e dan dan tiem can trong tng lai khong xa, cong ty
se co n v t ng ra quan ly, kinh doanh dch vu nha hang,
resort, khach san...
- Trong giai oan kho khan hien nay, von lu ong luon la van e
nan giai cua cac doanh nghiep, v the, Ban ieu Hanh cong ty
cung ang hng en viec phat trien mang san xuat, gia cong
hang o go noi that nham a dang hoa san pham va giai
quyet bai toan dong tien mat cho doanh nghiep.
- Vi tam niem con ngi la tai san quy gia nhat, cong ty se
tiep tuc phat trien cac chien lc nguon lc e thu hut va gi
chan ngi tai.
- Ben canh o, cac chien lc ve tai chnh, marketing, kinh doanh
cung c chu trong cho giai oan mi 2014 2016.
1.1.5 S o to chc:
1.1.6 Nguon nhan lc

So lng can bo, nhan vien va chnh sach oi vi ngi lao
ong
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- Dien bien lao ong trong nam 2011

Lao ong au ky : 121
Lao ong tang trong ky
Lao ong giam trong ky
Lao ong cuoi ky : 115
Trong o so L n : 38
- Trnh o chuyen mon
ngi
: 60 ngi
: 66 ngi
ngi
ngi
au ky
STT
Trnh o
Tren ai
hoc
So
lao Ty le
ong
Cuoi ky
So
lao Ty le
ong
1.65%
0.87%
ai hoc
78
64.46%
72
62.61%
Cao ang
14
11.57%
14
12.17%
Trung
cap
5.79%
6.96%
Lao ong
co tay
nghe
7.44%
81
70.43%
Lao ong
pho
thong
11
9.09%
12
10.43%
121
100%
115
100%
Tong
cong
Tuoi nghe :
Di 3 nam
: 11 ngi chiem 9.56%
T 3 5 nam : 17 ngi chiem 14.78%

T 5 10 nam : 49 ngi chiem 42.61%
T 10 nam tr len : 38 ngi chiem 33.05%
Tong cong : 115 ngi.
Tuoi nghe bnh quan cua lc lng lao ong la 8.66 nam; ay la
ch so kha ly tng oi

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vi mot cong ty. Ch so nay cho thay CotecLand ang s hu

nguon nhan lc trong o
tuoi vang cua i ngi, o tuoi kinh nghiem, ban lnh va
nhiet huyet e thc hien cac
muc tieu kinh doanh cua cong ty.
- Che o lam viec
Bieu thi gian lam viec:
So ngay lam viec: 06 ngay/ tuan, rieng van phong lam viec 5,5
ngay/tuan
Gi lam viec: theo gi hanh chnh 08 gi/ ngay: t 08 gi 00
phut en 17 gi 00
Lam viec theo ca: 08 gi/ ca
Ngh tra: T 12 gi 00 phut en 13 gi 00
Ngay ngh trong thang:
Khoi van phong: Chieu th 7 va Chu nhat hang tuan
Khoi trc tiep san xuat: Ngay chu nhat hang tuan hoac 01
tuan ngh 01 ngay theo
chu ky ngh cua ca lam viec.
Tat ca CBCNV eu c ngh phep nam theo che o cua Nha
nc hien hanh va
c xet len lng khi en ky han.
1.2 PHAN TCH MOI TRNG KINH DOANH DOANH NGHIEP
1.2.1 Moi trng tong quat:
Trong nam 2012, tnh hnh kinh te the gii dien bien phc tap,
kinh te trong nc gap nhieu kho khan va thach thc, lai suat
ngan hang tang cao, gia vang va ty gia ngoai te bien ong
manh, gia nguyen vat lieu au vao tang ... anh hng trc tiep
en ket qua san xuat kinh doanh cua doanh nghiep, i song
nhan dan va ket qua thc hien cac muc tieu, nhiem vu va cac
ch tieu chu yeu cua ke hoach phat trien kinh te xa hoi. Mot
trong nhng chnh sach c ap dung hoac ang trong qua trnh d
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thao gay nong trong nam 2012 chnh la viec tang gia ien, xang
dau, siet nhap khau o to, oc quyen vang... Lan au tien, gia
ien tang ti hai lan trong mot nam, tong tang 20,28%. Lan th
nhat, mc tang la 15,28%, cao nhat ke t nam 2006 so vi suot
bon nam qua. Sau o, EVN lai tan dung c hoi Chnh phu a giao
quyen t c tang gia ien trong pham vi 5% e tang gia ien
lan hai. ay cung la mot trong nhng ly do khien ngi dan lo
ngai gia tieu dung se b ay len cao vao dp cuoi nam.
Co le cha mot mat hang nao lai c ngi dan quan tam
nh xang dau va nam 2012 cung la nam ong ln Petrolimex c
a ra mo xe nhieu nhat ve chuyen lo, lai; chuyen minh bach
gia. Vi hai lan tang gia lien tiep vao thang 2/2012, thang
3/2012, gia xang dau a tr thanh e tai tam iem tren tat
ca cac mat bao. Bc xuc i kem vi viec xang dau tang gia
manh la nhng nghi ng cua d luan at ra xung quanh cac khoan
lai - lo cua cac doanh nghiep xang dau cha c kiem chng,
cong bo.
Von va lai suat ngan hang cung la thach thc ln. Trong
nhieu nam nay nen kinh te Viet Nam a van hanh vi mc lai
suat ngan hang cao nhat the gii, lai khong bao am cung cap
von cho doanh nghiep, nhat la doanh nghiep va va nho, a lam
cho nang lc canh tranh cua doanh nghiep va nen kinh te sut kem
so vi cac oi thu canh tranh khac. Nhng thi gian qua chung ta
van loay hoay vi cac bien phap van ong ong thuan, ao c
va cac quy nh ve tran lai suat cho vay, roi tran lai suat huy
ong... Rot cuoc, van e von va lai suat van cha c giai
quyet on thoa nen ay van la thach thc oi vi kinh te v
mo .
Th trng ngoai hoi va vang, trong mot thi gian dai ch chu
trong viec chong au c bang bien phap hanh chnh ma cha quan
tam ung mc en bao am can oi quan he cung cau, thoa
man nhu cau ngoai te cua doanh nghiep, nhu cau s dung vang
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e cat tr hay nh mot kenh au t bnh thng cua ngi dan,

han che s dung vang vat chat trong ieu kien ong noi te b
mat gia Cuoi cung nha nc van cha quan ly c cac th
trng nay mot cach on nh nh cac nc trong khu vc va tren
the gii. Kinh nghiem cac nc cho thay, ch co the quan ly
cac th trng nay bang bien phap kinh te phu hp, ch khong
ch bang bien phap hanh chnh chong au c, han che nhu cau
cua doanh nghiep va ngi dan.
Nhn nhan ve nhng kho khan cua kinh te Viet Nam nam 2012,
nguyen nhan khach quan la do tac ong nang ne, phc tap cua
khung hoang tai chnh, suy thoai kinh te toan cau. Nguyen nhan
chu quan la do nhng yeu kem noi tai cua nen kinh te vi mo
hnh tang trng va c cau kinh te, c cau au t kem hieu qua
tch tu t nhieu nam, yeu kem trong lanh ao, quan ly, nhat la
trong quan ly kinh te v mo...
Trong boi canh tren, kinh te Viet Nam nam 2013 ng trc
nhng c hoi, thach thc va cu, va mi an xen, khong de
dang vt qua neu chung ta khong co t duy oi mi thc s ve
chnh sach, chien lc e co cach lam khac, vt len khoi t duy
cu, cach lam cu, khong dam thoat ra khoi nhng nguyen ly, c
che khong con phu hp vi thc tien.
Kch ban kinh te Viet Nam 2013 vi cai nhn tong quat nh sau:
thach thc ln hn c hoi, kho khan nhieu hn thuan li. Neu
chung ta khong kp thi nam bat c hoi, thay oi t duy, chnh
sach, co chnh sach, bien phap kinh te phu hp thay cho cac bien
phap hanh chnh n thuan th se kho vt qua nhng thach thc
va at c ket qua mong muon.
C hoi ln nhat, bao trum trong nam 2013 la: on nh kinh te v
mo, thay oi t duy va chnh sach. Co chnh sach kinh te phu hp
thay cho cac bien phap hanh chnh n thuan. Sang nam 2013 va
mot so nam ti, chung ta phai het sc coi trong on nh kinh te
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v mo, phai lam nhieu viec, trong o co u tien kiem che lam
phat, tai cau truc nen kinh te, thay oi mo hnh tang trng
Trong ieu kien lam phat cao phai siet chat tn dung, thi hanh
chnh sach tai chnh "that lng, buoc bung" th khong ai co the m
tng en toc o tang trng na.
Hn na, va u tien kiem che lam phat, va at tang trng
th rat kho thc hien ong thi, trong khi muc tieu nao cung eu
co nhng kho khan, thach thc cua no. Nhng yeu to truyen
thong giup tang trng nh: xuat khau, au t nc ngoai, du
lch, kieu hoi... se khong con phat huy tac dung nh trc ay.
1.2.2 Moi trng nganh:
Cong ty hoat ong chu yeu la nganh xay dng, ta se phan tch
tnh hnh nganh e thay c s hoat ong cua nganh xay dng
trong nam qua gap nhng thuan li, kho khan nh the nao, cung
nh tm ra nhng c hoi va thach thc cho nam ti.
au t cong cat giam e kiem che lam phat a lam cho nen
kinh te cang kho khan hn, nganh xay dng la nganh chu s
anh hng trc tiep trong van e nay, au t giam tc la cau
giam lam cho cung nganh xay dng cung giam mot cach tram
trong. Khong nhng kho khan ve cau giam ma co nhng cong
trnh ang thi cong th b ong von, phai ngng thi cong v khong
cung cap u von, nguon von phai ch xet duyet.
Nam 2011, lai suat tang cao, ma ac iem cua nganh chung
ta la lng von rat cao, nhieu d an ieu ng v mc n ngan
hang tang cao, con co nhng d an khong giai ngan tiep c
nguon von nen phai tam dng giam doanh thu, li nhuan cua cac
doanh nghiep xay dng, nhng chi ph cho nhng bao dng may
moc thiet b th khong giam. Trong nam nay, tnh hnh gia nguyen
vat lieu tang cong them gia nhan cong tang o cung la
nguyen nhan gop phan cho nganh xay dng i xuong.
TRANG 13

VINH
SVTH:TRAN VAN
CHNG II: PHAN TCH TNH HNH TAI CHNH CUA CONG TY
CO PHAN AU T VA PHAT TRIEN NHA COTECLAND.
2.1 PHAN TCH C CAU VA S BIEN ONG TAI SAN
Bang phan tch:
2.1.1 Nhan xet chung:
n v tnh: VN
Tai san
Cuoi
2012
nam au
2012
nam
A.
Tai
san
621,173,469,3 523,921,892,
ngan
06
347
han
B.Tai
429,664,863,6 253,774,528,
san dai
33
084
han
Tong tai 1,050,838,332, 777,696,420,
san
939
431
Chenh lech
Tng
Tuyetoi
oi
% theo quy mo
Cuoi
au
nam
nam
97,251,576,9
59
18.56
%
59.11
%
67.37
%
175,890,335,
549
69,31
%
40,89
%
32,63
%
273,141,912,
508
35.12
%
100.00
%
100.00
%

TRANG 14

VINH
SVTH:TRAN VAN
Chung ta thay tong tai san cua cong ty cuoi nam so vi au

nam tang 273,141,912,508 (ong) tng ng tang 35.12% =>ieu
nay cho thay cong ty co xu hng m rong san xuat kinh doanh
au t xay dng va tong tai san tang nguyen nhan do:
Tai san ngan han cuoi nam 2012 so vi au nam 2012 tang
97,251,576,959 (ong) tng ng tang 18.56%, trong khi o nh trong
bieu o tren ta thay tai san ngan han chiem ty trong ln
trong tong tai san cu the la au nam chiem ty trong la 67.37%
va cuoi nam giam con 59.11% nen no co anh hng ln en
tai san.
Con tai san dai han cuoi nam so vi au nam tang manh
175,890,335,549 (ong) tng ng tang 69.31%, trong khi o tai san
dai han cung chiem ty trong tng oi ln trong tong tai san cu
the: au nam 2012 la 32.63% va en cuoi nam 2012 la 40.89%
nen no anh hng ln en tong tai san.

TRANG 15

VINH
SVTH:TRAN VAN
2.1.2. Phan tch chi tiet c cau va s bien ong tai san
ngan han:
Bang phan tch:
n v tnh: VN
Ch Tieu
A. Tai San
Ngan Han
I. Tien va
cac khoan
tng
ng tien
1. Tien
2. Cac
khoan tng
ng tien
II. Cac
khoan au
t tai
chnh ngan
han
1. au
t ngan han
2. D
phong giam
gia au t
ngan han
III. Cac
khoan phai
thu
ngan han
1. Phai
thu khach
hang
Cuoi
2012
nam au
2012
nam
Chenh lech
Tng
Tuyet oi
oi
(%)
97,251,576, 18.56
959
%
% theo quy mo
Cuoi
nam
au
nam
100.00
%
100.00
%
621,173,469,
306
523,921,892,
347
2,673,898,59
6
689,675,426
1,984,223,1
70
287.7
%
0.43%
0.13%
2,673,898,59
6
689,675,426
1,984,223,1
70
287.7
%
0.43%
0.13%
0.00%
0.00%
81,060,000,0
00
82,790,897,0
11
(1,730,897,0
11)
2.09%
13.5%
15.8%
81,060,000,0
00
82,790,897,0
11
(1,730,897,0
11)
2.09%
13.5%
15.8%
0.00%
0.00%
279,354,191,
271
258,151,229,
918
21,202,961,
353
8.21%
44.97
%
49.27
%
151,676,894,
568
83,922,060,7
94
67,754,833,
774
80.74
%
24.42
%
16.02
%

TRANG 16

VINH
2. Tra
trc cho
ngi
ban
3. Phai
thu noi bo
ngan han
4. Phai
thu theo tien
do ke
hoach hp
ong xay
5. Cac
khoan phai
thu khac
6. D
phong phai
thu ngan han
kho oi
IV. Hang
ton kho
1.
Hang ton
kho
2. D
phong giam
gia
hang ton
kho
V. Tai
san ngan
han khac
1. Chi
ph tra trc
ngan han
2. Thue
GTGT c
khau tr
3. Thue
va cac
khoan
khac phai
thu Nha
nc
4. Tai
san ngan
han khac
70,439,840,7
03
88,531,794,7
51
2,252,504,5
00
SVTH:TRAN VAN
18,091,954,
048
20.44
%
2,252,504,5
00
16.90
%
0.36%
0.00%
0.00%
0.00%
8.96%
16.36
%
-0.11%
0.00%
55,662,395,1
27
85,697,374,3
73
30,034,979,
246
(677,443,627
)
(677,443,62
7)
170,030,161,
971
67,218,202,
235
39.53
%
38.19
%
32.45
%
170,030,161,
971
67,218,202,
235
39.53
%
38.19
%
32.45
%
0.00%
0.00%
20,837,015,2
33
12,259,928,0
21
8,577,087,2
12
69.96
%
3.35%
2.34%
(1,472,779,5
19)
97.97
%
0.00%
0.29%
8,929,662,3
60
554.11
%
1.7%
0.31%
0.01%
0.00%
1.65%
1.75%
237,248,364,
206
237,248,364,
206
30,585,054
1,503,364,57
3
10,541,190,8
62
1,611,528,50
2
43,496,871
10,221,742,4
46
9,145,034,94
6
35.05
%
11.34
%
43,496,871
1,076,707,5
00
11.77
%

TRANG 17

VINH
SVTH:TRAN VAN
Qua bang phan tch ta thay tai san ngan han cua cong ty
cuoi nam 2012 tang 97,251,576,959 tng ng tang 18.56%. Nguyen
nhan tang chu yeu la do:
Hang ton kho tang 67,218,202,235 (ong) tng ng tang
39.53%, chiem ty trong au nam la 38.19% va cuoi nam la
32.45% => ieu nay chng to quy mo san xuat kinh doanh cua
cong ty ngay cang m rong, khoi lng xay lap d dang ln
can au t tam ng e mua nguyen vat lieu cho viec kinh doanh
xay dng cho nam ti.
Cac
khoan
phai
thu
ngan
han
th
cuoi
nam
tang
21,202,961,353 (ong) tng ng tang 8.21%, ty trong lai chiem ty

le cao trong tai san ngan han cu the la au nam la 49.27% va
cuoi nam la 44.97% => ieu nay bieu hien khong tot co the do
cong ty con xay dng nhieu cong trnh d dang cha thu c tien
so lng von b ngi khac chiem dung.
Tien va cac khoan tng ng tien cuoi nam so vi au
nam tang 1,984,223,170 (ong) tng ng tang 287.70%, tuy nhien
chiem ty trong rat nho au nam la 0.13% va cuoi nam la 0.43
% nen lam cho tai san ngan han tang => ieu nay bieu hien
khong tot v doanh nghiep khong nen d mot lng tien qua ln
ma khong a vao san xuat kinh doanh xay dng.
Tai san ngan han khac cuoi nam so vi au nam tang
8,577,087,212 (ong) tng ng tang 69.96%, chiem ty trong tng
oi nho au nam la 2.34% va cuoi nam la 3.35 % nen cung
lam cho tai san ngan han tang nhng tang khong cao lam => Tai
san cua cong ty ngay cang tang len.
Cac khoan au t tai chnh cuoi nam so vi au nam giam
1,730,897,011(ong) tng ng giam 2.09% trong khi o chiem ty
trong tng oi nho trong tai san ngan han va mac du co giam
nhng toc o giam khong bang toc o tang cua hang ton kho
TRANG 18

VINH
SVTH:TRAN VAN
va cac khoan phai thu ... cu the au nam la 15.8% va cuoi nam
la 13.05% nen cung khong u lam cho tai san ngan han giam.
2.1.3. Phan tch chi tiet c cau va s bien ong tai san
dai han:
Bang phan tch:
n v tnh: VN
Ch Tieu
B. Tai
San Dai
Han
I. Cac
khoan
phai
thu
dai han
1. Phai
thu
dai
han
cua
khach
hang
2. Von
kinh doanh
n v trc
thuoc
3. Phai
thu
dai
han
noi
bo
4. Phai
thu
dai
Cuoi
2012
nam au
2012
429,664,863,
634
714,290,493
nam
253,774,528,
084
Chenh lech
Tuyet oi
Tng
oi
(%)
Cuoi
nam
au
nam
175,890,335,
550
69.31%
100.00
%
100.00
%
0.17%
0.17%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.17%
0.00%
714,290,
-
493
493
714,290,493
% theo quy mo
714,290,
0.17%

TRANG 19

VINH
han khac
5. D
phong
phai
thu
dai
han
kho oi
II. Tai
san
co
nh
1.
Tai
san
co nh
hu hnh
Nguyen
gia
- Gia
tr
hao
mon luy
ke
2.
Tai
san
co
nh
thue
tai chnh
Nguyen
gia
- Gia
tr
hao
mon luy
ke
3.
Tai
san
co
nh
vo hnh
Nguyen
gia
- Gia
tr
hao
mon luy
ke
4. Chi
ph
xay
dng
c
ban
d
dang
III. Bat
ong san
SVTH:TRAN VAN
0.00%
0.00%
236.70%
76.92
%
38.68
%
4,108,476,73
2
-4.19%
21.89
%
38.68
%
104,899,345,
245
2,576,648,46
0
-2.46%
23.81
%
41.34
%
8,274,576,81
2
6,742,748,54
0
1,531,828,27
2
22.72%
-1.93%
-2.66%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
141,417,928,
671
141,417,928,
671
32.91
%
0.00%
144,636,008,
848
332,000,000
144,304,008,
848
43465.0
6%
33.66
%
0.13%
3,218,080,17
7
(332,000,000
)
2,886,080,17
7
0.00%
-0.75%
-0.13%
95,026,615,8
99
95,
026,615,899
22.12
%
0.00%
0.00%
0.00%
330,492,664,
543
98,156,596,7
05
232,336,067,
838
94,048,119,9
73
98,156,596,7
05
102,322,696,
785

TRANG 20

VINH
SVTH:TRAN VAN
au t
Nguyen
gia
- Gia
tr
hao
mon luy ke
IV. Cac
khoan
au t tai 87,813,564,4
70
chnh dai
han
1.
au
t
vao cong ty con
2.
au
t
vao cong 86,459,414,4
ty
lien 70
ket, lien
doanh
3.
au
t
dai
han khac
4. D
phong
giam gia
au t tai chnh dai
han
V. Tai
10,644,344,1
san
dai
28
han khac
1. Chi
ph
tra 8,457,304,43
trc dai 1
han
2.
Tai
san
2,18
thue
thu
7,039,697
nhap
hoan lai
3.
Tai
san
dai
han khac
137,724,003,
758
49,910,439,2
88
136
,
49,910,439,2
369,853,758
88
0.00%
0.00%
0.00%
0.00%
20.44
%
54.27
%
0.00%
0.00%
20.44
%
54.27
%
0.00%
0.00%
0.00%
0.00%
17,893,927,6
21
7,249,583,49
3
-40.51%
2.48%
7.05%
16.696,226,5
15
8,238,922,08
4
-49.35%
1.97%
6.58%
1,197,701,10
6
989
338,591
0.51%
0.47%
0.00%
0.00%
82.6
0%

TRANG 21

VINH
SVTH:TRAN VAN
Qua bang phan tch ta thay tai san dai han cuoi nam so vi
au nam tang 175,890,335,550 (ong) tng ng tang 38.68%,
nguyen nhan chu yeu la do :
Tai
san
co
inh
cuoi
nam
so
vi
au
nam
tang
232,336,067,838 (ong) tng ng tang 236,70%, ty trong chiem ty

le rat cao trong tai san dai han cu the au nam la 38.68% va
cuoi nam la 76.92% nen co anh hng rat ln en toan bo tai
san
dai
han.Trong
tai
san
co
nh
hu
hnh
giam
4,108,476,732 tng ng giam 4.19% trong tong tai san co nh =>

ieu nay cho thay may thiet b cua cong ty giam dan qua cac
nam
co the do cong ty thanh ly mot so tai san co nh nh
may moc thiet b cu, lac hau h hong can c sa cha hoac
thay the.Tai san co nh vo hnh tang 141,417,928,671 trong tong
so tai san co nh => co the cong ty manh dan au t vao cac
d an ln nh Blue Saphire Reort, d an benh vien a khoa ong
Nai.Them vao o chi ph xay dng c ban d dang tang cao do
cong ty ang sa cha xng c kh va ang gap rut cho cong tac
san lap mat bang d an khu ngh dng Blue saphire resort Vung
Tau v vay lam cho chi ph xay dng d dang tang len tng ng
tang 22.12%.
Cac khoan phai thu dai han cuoi nam so vi au nam tang
them 714,290,493 (ong) chiem ty trong au nam la 0.00% va
cuoi nam la 0.17% .Ch anh hng en mot phan lam tang tai
san dai han => ieu nay bieu hien khong tot cong ty cha thu
c tien so lng von b ngi khac chiem dung.
Mac khac, cac khoan au t tai chnh dai han cuoi nam so
vi au nam cung giam 49,910,439,288 (ong), tng ng giam
36.24% ty trong cua no cuoi nam trong tai san dai han cung
chiem ty le tng oi nen khong lam cho tai san giam nhieu
c cu the au nam la 54.27% con cuoi nam la 20.44% va tai
san dai han khac cung giam 7,249,583,493 (ong) tng ng giam
40.51% , ty trong chiem trong tai san dai han tng oi nho au
TRANG 22

VINH
SVTH:TRAN VAN
nam 7.05% va cuoi nam 2.48% nen s giam cua 2 yeu to nay
khong lam cho tai san dai han giam so vi toc o tang cua
tai san co nh va cac khoan phai thu.
2.2 PHAN TCH C CAU VA BIEN ONG CUA NGUON VON:
Bang phan tch:
n v tnh: VN
Nguon
von
Cuoi
2012
A.
N
phai tra
B.Von
chu s
hu
C.Li ch
cua co
ong
thieu so
Tong
nguon
von
786,098,120,0
23
213,329,631,7
01
658,451,764,
029
Chenh lech
Tng
Tuyetoi
oi
127,646,355,
994
19.39%
% theo quy mo
Cuoi
au
nam
nam
74.81
84.67
%
%
119,101,171,
306
94,228,460,3
95
79.12%
20.30
%
15.31
%
143,485,096
51,267,096,1
19
35,729.9
1%
4.89%
0.02%
35.12%
100.00
%
100.00
%
nam au
2012
51,410,581,21
5
nam
1,050,838,332, 777,696,420,
939
431
273,141,912,
508
2.2.1.Nhan xet chung:

TRANG 23

VINH
`Tong
nguon
von
SVTH:TRAN VAN
cuoi
nam
so
vi
au
nam
tang
273,141,912,508 (ong) tng ng tang 35.12% nguyen nhan chu

yeu la do:
N phai tra cuoi nam so vi au nam tang 127,646,355,994
(ong) tng ng tang 19.39%, trong khi o n phai tra chiem ty
trong rat ln cu the: au nam 2012 la 74.91% va cuoi nam la
84.67%..
Con oi vi von chu s hu cuoi nam so vi au nam
tang 94,228,460,395 (ong) tng ng tang 79.12%, chiem ty trong
tng oi trong tong nguon von, ty trong cuoi nam so vi au
nam cu the: ty trong au nam la 20.30% va cuoi nam la 15.31%
nhng toc o tang cao nen no cung mot phan lam anh hng
en tong nguon von
Li ch cua co ong tang cuoi nam so vi au nam tang cao
51,410,581,215(ong) tng ng tang 3,5729.91%, chiem ty trong
tng oi nho trong tong nguon von, ty trong cuoi nam so vi
au nam cu the: ty trong au nam la 0.02% va cuoi nam la
4.89% v vay mac du toc o tang cao nen no cung khong anh
hng qua ln en tong nguon von.
2.2.2 Phan tch chi tiet c cau va bien ong n phai tra:
Bang phan tch:
TRANG 24

VINH
SVTH:TRAN VAN
n v tnh: VN
Ch tieu
A. N
phai tra
I. N
ngan han
1.
Vay va n
ngan han
2.
Phai
tra
ngi ban
3.
Ngi mua
tra
tien
trc
4.
Thue va
cac khoan
phai nop
Nha nc
5.
Phai
tra
ngi
lao
ong
786,098,120,
022
320,527,648,
717
658,451,764,
029
313,981,449,
445
110,596,641,
894
204,807,903,
802
Chenh lech
Tng
Tuyetoi
oi
127,646,355, 19.39
993
%
6,546,199,27
2.08%
2
(94,211,261,9 46.00
08)
%
98,021,503,5
33
17,990,544,2
94
80,030,959,2
39
444.85
%
12.47
%
2.73%
12,862,258,8
95
11,453,221,1
03
1,409,037,79
2
12.30
%
1.64%
1.74%
28,788,050,5
84
19,730,274,2
42
9,057,776,34
2
45.91
%
3.66%
3.00%
1,434,219,98
8
835,714,000
598,505,988
71.62
%
0.18%
0.13%
46,701,586,1
50
(9,046,148,90 19.37
2)
%
4.79%
7.09%
0.00%
0.00%
0.00%
0.00%
10,330,708,6
56
16,990,422,1
43
3.48%
1.57%
0.00%
0.00%
Cuoi
2012
nam au
2012
6.Chi ph
37,655,437,2
phai tra
48
7.
Phai
tra
noi bo
8.
Phai
tra
theo
tien
o
ke hoach hp ong
xay
9.
Cac
khoan
27,321,130,7
phai tra,
99
phai nop
ngan han
khac
10.
D phong
phai
tra
nam
164.47
%
% theo quy mo
Cuoi
au
nam
nam
100.00 100.00
%
%
40.77
47.68
%
%
14.07
%
31.10
%

TRANG 25

VINH
ngan han
11.
Quy khen
3,848,405,77
thng
6
phuc li
II. N 465,570,471,
dai han
305
1. Phai
tra
dai
han ngi
ban
2. Phai
tra
dai
han
noi
bo
3. Phai
tra
dai
han khac
4. Vay
va n dai
han
5. Thue
thu
nhap
hoan
lai
phai tra
6. D
phong tr
cap mat
viec lam
7. D
phong
phai tra
dai han
8.
Doanh thu
cha
thc hien
9. Quy
phat trien
khoa
hoc
cong
nghe
2,131,497,19
8
344,470,314,
584
SVTH:TRAN VAN
1,716,908,57
8
121,100,156,
721
80.55
%
0.49%
0.32%
35.16
%
59.23
%
52.32
%
0.00%
0.00%
0.00%
0.00%
0.52%
0.00%
40.57
%
39.21
%
0.00%
0.00%
0.03%
0.02%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
4,104,085,20
0
4,104,085,20
0
318,894,249,
660
258,190,000,
000
60,704,249,6
60
59,761,090
(59,761,090)
142,572,136,
445
86,220,553,4
94
0.00%
N phai tra cuoi nam so vi au nam tang 127,646,355,993

(ong) tng ng tang 19.39% => ieu nay cho thay cong ty ang
chiem dung mot so von e au t kinh doanh ay la bieu hien
khong tot v ve lau dai khoan n nay phai thanh toan va phai
TRANG 26

VINH
SVTH:TRAN VAN
chu mot khoan tien lai trong thi ky lai suat ang cao nh hien
nay th cung la mot van e kho khan cho doanh nghiep nguyen
nhan la do:
N ngan han tang 6,546,199,272 (ong) tng ng tang 2.08%
chiem ty trong trong tong n phai tra cu the la cuoi nam 40.77%
va au nam 47.68% la do:
Vay va n ngan han cuoi nam so vi au nam
giam
94,211,261,908 tng ng giam 46.00% chiem ty trong cu the cuoi

nam la 14.7% va au nam 31.10% ieu nay tot cho thay cong ty
ang giam tien vay lai.
Phai tra ngi ban cuoi nam so vi au nam tang
80,030,959,239 (ong) tng ng tang 444.85% chiem ty trong cu
the cuoi nam 12.47% va au nam 2.73% => ieu nay cho thay
cong ty hoat ong kinh doanh khong hieu qua khong co von tra
cho ngi ban.
Ngi mua tra tien trc cuoi nam so vi au nam tang
1,409,037,792 (ong) tng ng tang 12.3% tuy chiem ty trong
khong cao cuoi nam 1.64% va au nam 1.74% nhng cho thay
cong ty ang chiem dung mot lng von va cong ty a tao c
uy tn tren th trng va bat au co hp ong mi ay se la c
s phat trien lau dai cua cong ty.
Thue va cac khoan phai nop cho nha nc cuoi nam so vi
au nam tang 9,057,776,342 (ong) tng ng tang 45.91% chiem
ty trong khong cao cuoi nam 3.66% va au nam 3.00% => ieu
nay cho thay co the cong ty trong nam cha hoan thanh viec
thanh toan khoan n ngan han va khoan phai nop cho nha nc.
Qua so lieu tren cho thay n phai tra tang chu yeu la do n
la do
n dai han tang 121,100,156,721(ong) tng ng tang
35.16% chiem ty trong cu the cuoi nam 59.23% va au nam

52.32% => ieu nay cho thay cong ty khong ngng m rong quy
TRANG 27

VINH
SVTH:TRAN VAN
mo can tap trung von ln e au t nen cong ty phai vay von

ngan hang vi tnh hnh lai suat
ang cao nh hien nay cong ty
can au t von mot cach hp ly e em lai hieu qua.

2.2.3 Phan tch chi tiet c cau va bien ong von chu s
hu:
Bang phan tch:
n v tnh: VN
Ch tieu
Cuoi
2012
Chenh lech
Tng
Tuyetoi
oi
% theo quy mo
Cuoi
au
nam
nam
119,101,171,
306
94,228,460,3
95
79.12%
100.00
%
100.00
%
119,101,171,
306
94,228,460,3
95
79.12%
100.00
%
100.00
%
100,000,000,
000
100,0
50%
00,000,000
93.75
%
83.96
%
(1,282,720,5
82)
-0.60%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
nam au
2012
B. Von
213,329,631,
chu
s
701
hu
I. Von
213,329,631,
chu
s
701
hu
1.
Von au t 200,000,000
cua
chu ,000
s hu
2.
Thang
d (1,282,720,5
von
co 82)
phan
3.
Von khac
cua
chu s hu
4. Co
phieu quy
5.
Chenh lech
anh
gia lai tai san
6.
Chenh lech
t gia hoi oai
7.
7,922,124,30
Quy au t
8
phat trien
8.
Quy
d 6,418,183,39
phong tai 1
chnh
nam
3,738,570,72
9
3,280,518,20
6
4,183,553,57
9
52.81%
3.71%
3.14%
3,137,665,18
5
48.89%
3.01%
2.75%

TRANG 28

VINH
9.
Quy khac
thuoc von
s hu
10. Li
nhuan sau
thue
cha
phan phoi
11.
Nguon von
au t XDCB
12. Quy
ho tr sap
xep doanh
nghiep
II. Nguon
kinh ph va
quy khac
1. Quy
khen thng
va phuc li
2.
Nguon kinh
ph
3.
Nguon kinh
ph da hnh
thanh TSC
SVTH:TRAN VAN
272,044,584
12,082,082,3
71
11,810,037,7
87
4,341.2
1%
0.00%
0.00%
0.13%
10.14
%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
oi vi tong von chu s hu cuoi nam 2012 so vi au

nam tang 94,228,460,395 (ong) tng ng tang 79.12% nguyen
nhan la:
Chung ta thay von chu s hu tang, chu yeu la do von
au t chu s hu tang la do cong ty a thc hien chuyen oi
trai phieu thanh co phieu lam cho von au t chu s hu cuoi
nam so vi au nam tang 100,000,000,000 (ong) tng ng tang
50%, chiem ty trong rat cao trong tong von chu s hu cu the
cuoi nam 93.75% va au nam la 83.96%=> ieu nay cho thay
cong ty ang co quy mo hoat ong au t m rong ln hn nhng
ben canh o von chu s hu ang co xu hng chuyen dan vao
au t va cac quy, nguyen nhan chu yeu cong ty a bat au
trch lap au t va phat trien m rong quy mo hoat ong va e
TRANG 29

VINH
SVTH:TRAN VAN
an toan hn ve mat tai chnh cong ty a chuyen mot phan von

vao quy d phong tai chnh.
Mat khac: von chu s hu tang len nhng li nhuan sau
thue cha phan phoi giam 11,810,037.787 (ong) tng ng giam
4,341.21% % => ieu nay co ngha la tnh hnh hoat ong kinh doanh
cua cong ty khong that s hieu qua.
2.3 PHAN TCH BAO CAO KET QUA HOAT ONG SAN
XUAT KINH DOANH
Neu nh phan trc da tren bang can oi ke toan e
phan tch a cho ta biet phan nao ve sc manh tai chnh, tnh hnh
quan ly s dung von, muc ch s dung cac nguon von th viec
phan tch cac khoan muc bao cao ket qua kinh doanh se bo sung
them cac thong tin ve tai chnh, gop phan lam cho bc tranh
tai chnh cong ty sinh ong hn, no cho biet viec quan ly, ch ao
kinh doanh cua cac nha quan ly va anh gia hieu qua hoat
ong cua cong ty.
Ch tieu
Nam 2012
Nam 2011
Chenh lech
Tuyet oi
(1)
(2)
(3)
(4) = (2)-(3)
Tng
oi (%)
(5)=(4)/
(3)

TRANG 30

VINH
1. Doanh thu
ban
hang
141,801,243, 204,139,152,
va cung cap 571
520
dch vu
2.
Cac
khoan giam
tr doanh thu
SVTH:TRAN VAN
62,337,908,9
49
3. Doanh thu
141,801,243, 204,139,152
62,337,908,9
thuan
571
,520
49
4. Gia von
99,135,440,
141,946,29
42,810,851,4
hang ban
489
1,958
69
5. Li nhuan
gop ve ban
42,665,803,0
62,192,860
hang
va
19,527,057,4
82
,562
cung
cap
80
dch vu
6. Doanh thu
42,874,433, 26,323,726,7 16,550,706,7
hoat
ong
550
60
90
tai chnh
7. Chi ph tai
54,621,971, 32,841,188,2 21,780782,84
chnh
121
74
7
Trong o:
Chi ph lai vay
52,348,920,93 31,746,683,2
2
26
8.Li nhuan
(11,747,537,
t
hoat
(6,517,461,5
571)
ong
tai
14)
chnh
9. Chi ph ban
10,094,173,0
hang
7,863,217,418
80
10.
Chi
ph
15,538,622,03 18.470,523,5
quan
ly
8
06
doanh nghiep
11. Li nhuan
thuan
t
7,516,426,05
27,110,702
hoat
ong 5
,462
kinh doanh
12. Thu nhap
19,045,091,21
khac
524,904,380
8
13.
Chi
ph
3,732,588,700 329,263,519
khac
14. Li nhuan 19,045,091,21
524,904,380
khac
8
15.Phan
li
(9,554,127,19 (390,115,689
nhuan hoac
6)
)
cong ty lien
20,602,237,7
06
-30.54
-30.54
-30.16
-31.40
62.87
64.90
64.9
(5,230,076,0
57)
0.25
(2,230,955,66
2)
2,931,901,46
8
19,594,276,4
07
-22.10
-15.87
-72.28
18,520,1
86,838
3,528.30
3,403,325,18
1
18,520,186,8
38
523,916,205
1,033.62
3,528.3
-5.2

TRANG 31

VINH
ket
kinh
doanh.
16. Tong li
nhuan
ke
toan
trc
thue
17.
Chi
ph
thue
TNDN
hien hanh
18.
Chi
ph
thue
TNDN
hoan lai
19. Li nhuan
sau thue
20. Lai c
ban tren co
phieu
SVTH:TRAN VAN
13,274,801,37 17,228,299,9
7
22
3,953,498,54
5
-22.95
3,316,596,742
6,340,946,1
3,024,349,43
80
8
(989,338,591)
(390,115,68 (599,222,902
9)
)
153.6
-47.7
10,947,543,2
11,277,469,
-329,926,205
26
431
-2.93
717
-36.44
1,128
-411
2.3.1 Nhan xet chung:

Theo bang phan tch ket qua hoat ong kinh doanh ta thay
tong doanh thu nam 2012 so vi nam 2011 giam 62,337,908,949
(ong) tng ng giam 30.54% va
li nhuan sau thue qua 2 nam
cua cong ty co thay oi. Nam 2011 at
11,277,469,431 (ong ),
nam 2012 at mc 10,947,543,226 (ong). Nh vay nam 2012 so vi

nam 2011 giam 329,926,205 (ong), tng ng giam
2.93 % =>
ieu nay cho ta thay tnh hnh hoat ong, kinh doanh cua cong ty
khong that s hieu qua.

TRANG 32

VINH
SVTH:TRAN VAN
2.3.2 Phan tch chi tiet thu nhap:

Bang Phan tch:
n v tnh: VN
Chenh lech
Ch tieu
Nam 2012
Nam 2011
Tuyet oi
(1)
Doanh
thu
ban hang va
cung cap dch
vu
Doanh
thu
HTC
Thu
khac
(2)
(3)
141,801,243,
571
204,139,152,
520
(62,337,908,9
49)
54
42,665,803,0
82
26,323,726,7
60
16,342,076,3
22
62.08
542,904,380
18,502,186,8
38
3408.00
231,005,783,
660
(27,493,645,7
89)
9
nhap 19,045,091,2
18
Tong cong
203,512,137,
871
(4) = (2)-(3)
Tng
oi (%)
(5)=(4)/
(3)
-30.
-11.
Nhan xet chung:

TRANG 33

VINH
SVTH:TRAN VAN
Tong doanh thu sau khi hp nhat nam 2012 so vi nam 2011
giam 27,493,645,789 (ong) tng ng giam 11.9%.Tong doanh thu
giam la do doanh thu ban hang va cung cap dch vu nam 2012 so
vi nam 2011 giam 62,337,908,949 (ong) tng ng giam 30.54%
nguyen nhan giam nay co the do cong ty co t n at hang t
khach hang va ac iem cua nghanh xay dng thi gian cong
trnh keo dai trong nhieu nam nen viec ghi nhan doanh thu la khi
cac cong trnh hoan thanh.
2.3.2.1 Doanh thu thuan t ban hang va cung cap dch vu
Bang phan tch:
n
v tnh: VN
Chenh lech
Ch tieu
Nam 2012
Nam 2011
Tuyet oi
(1)
Doanh thu HTC
Tong cong
Tng
oi (%)
(5)=(4)/
(3)
(2)
(3)
(4) = (2)-(3)
42,665,803,0
82
26,323,726,7
60
16,342,076,3
22
62.08
42,665,803,0
82
26,323,726,7
60
16,342,076,3
22
62.08

TRANG 34

VINH
SVTH:TRAN VAN
Tong doanh thu sau khi hp nhat nam 2012 so vi nam 2011
tang 16,342,076,322 (ong) tng ng tang 62.08%.Doanh thu hoat
ong tai chnh chu yeu thu ve t viec lai tien gi ngan hang
va lai cho vay cua cua cac cong ty lien ket trong cotec group, cotec
anpha...ieu nay cho thay cong ty co khoan von ln e cho vay.
2.3.2.2 Doanh thu t thu nhap khac:
Bang phan tch:
n v tnh: VN
Chenh lech
Ch tieu
Nam 2012
Nam 2011
Tuyet oi
(1)
Thu
khac
(2)
nhap 19,045,091,2
18
19,045,091,2
Tong cong
18
(3)
542,904,380
542,904,380
(4) = (2)-(3)
18,502,186,8
38
18,502,186,8
38
Tng
oi (%)
(5)=(4)/
(3)
3408.00
3408.00
Thu nhap khac trong nam tang ot bien cu the thu nhap khac
trong nam tang 18,502,186,838 (ong) tng ng tang 3.408%
nguyen nhan la do thu tien nhng ban, thanh ly tai san co nh,
lai do anh gia lai vat t, hang hoa, tai san co nh mang i gop
von lien doanh, au t vao cong ty lien ket, au t dai han khac
tang . ieu o chng to cong ty a chu ong trong viec thanh ly
tai san e au t quay vong tai san mi giup cho viec ng
dung khoa hoc ky thuat tien tien, giup nang cao nang suat lao
ong. Mat khac la do chien lc cua cong ty trong viec au t,
lien ket , lien doanh , giup cong ty m rong th trng, khai thac
toi a nhng nguon lc ben trong viec thu t cac cong ty lien
ket , va nguon thu t bat li the thng mai mua co phieu cua
cong ty CP hang Ha va thu ve t cac khoan cho thue tai san co
inh...

TRANG 35

VINH
SVTH:TRAN VAN
2.3.3 Phan tch chi tiet chi ph:

Bang phan tch:
n v tnh: VN
Chenh lech
Ch tieu
Nam 2012
Nam 2011
Tuyet oi
(1)
(2)
(3)
(4) = (2)-(3)
122,537,279,
945
54,621,971,1
21
170,510,988,
544
32,841,188,2
74
(4797370859
9)
21,780,782,8
47
Chi ph khac
3,732,588,70
0
329,263,519
3,403,325,18
1
Tong cong
180,891,839,
766
203,681,440,
337
(2278960057
1)
Chi phi HKD

Chi ph HTC
Tng
oi (%)
(5)=(4)/
(3)
28.14
66.32
1033.62
-11.
19
Tong chi ph cua doanh nghiep nam 2012 so vi nam 2011

giam 22,789,600,571(ong) tng ng giam 11.19% chu yeu la chi
ph hoat ong san xuat kinh doanh giam 47,973,708,599 (ong) tng
ng giam 28.14% nhng chi ph hoat ong tai chnh lai tang cao cu
the nam 2012 tang so vi nam 2011 la 21,780,782,847(ong) tng
ng tang 66.32% chi ph hoat ong tai chnh tang anh hng
khong tot en doanh nghiep chi ph nay tang chu yeu la do chi ph
lai vay cua doanh nghiep v vay doanh nghiep can han che cac
khoan vay trong thi ky lai vay tang cao nh hien nay, ben canh chi
ph khac cung tang cao nam 2012 so vi nam 2011 co the do gia
tr con lai tai san co nh nhng ban, thanh ly tang, ieu chnh
khoi lng cong trnh theo quyet toan tang, khau hao tai san co
nh cho thue...mac du chi ph tai chnh va chi ph khac tang nhng
TRANG 36

VINH
SVTH:TRAN VAN
chiem ty trong thap trong tong chi ph nen khong lam cho tong ch
doanh nghiep tang cao hn c.
2.3.3.1 Phan tch chi ph hoat ong kinh doanh:

Bang phan tch:
n v tnh: VN
Chenh lech
Ch tieu
Nam 2012
Nam 2011
Gia
von 99,135,440,4
hang ban
89
Chi ph ban 7,863,217,41
hang
8
141,946,291,
958
10,094,173,0
80
Tng
oi (%)
(5)=(4)/
(4) = (2)-(3)
(3)
(42,810,851,4
(30.1
69)
6)
(2,230,955,66
2)
(22.10)
15,538,622,0
38
18,470,523,5
06
(2,931,901,46
8)
(15.87)
122,537,279,
945
170,510,988,
544
(47,973,708,5
99)
4)
Tuyet oi
(1)
(2)
Chi ph QLDN
Tong cong
(3)
(28.1
Tong chi ph hoat ong kinh doanh cua doanh nghiep nam 2012
so vi nam 2011 giam 47,973,708,599 (ong) tng ng giam
28.14% cac chi ph ban hang, chi ph quan ly doanh nghiep chi ph
giam ieu o cho thay trnh o quan ly cong ty at hieu qua
va so lng hp ong n at hang trong nam giam cho nen
cung lam giam cac chi ph. qua o cung lam giam doanh thu ban
hang cua cong ty nen chi ph hoat ong kinh doanh giam cha han
a tot nen cong ty can ay manh cong tac tm kiem hp ong
mi e lam tang doanh thu va li nhuan cho cong ty.

TRANG 37

VINH
SVTH:TRAN VAN
2.4 PHAN TCH BAO CAO LU CHUYEN TIEN TE

Bang Phan tch:
n v
tnh: VN
Ch Tieu
Lu chuyen t hoat
ong kinh doanh
Li nhuan trc
thue
ieu chnh cho
cac khoan
Khau hao tai san
co nh
Cac
khoan
d
phong
Lai lo t hoat
ong au t
Chi ph lai vay
Li nhuan t hoat
ong
kinh
doanh
trc thay oi von
lu ong
Tang giam cac
khoan phai thu
Tang giam hang
ton kho
Tang giam cac
khoan
phai
tra(khong ke lai
vay phai tra,thue
thu nhap phai nop)
Tang giam chi ph
Nam 2011
Nam 2012
13,274,801,376
17,228,299,922
2,689,999,977
2,785,224,028
677,443,627
(13,774,411,306)
52,348,920,932
(42,280,913,726)
46,676,449,686
55,216,754,606
24,500,059,910
158,243,838,948
(296,965,665,265)
(67,218,202,235)
78,185,132,700
37,538,146,734
10,458,892,933
(118,731,777,637)
(10,404,586,163)

TRANG 38

VINH
tra trc
Tien lai vay a
tra
Thue
thu
nhap
doanh nghiep a
nop
Tien thu khac t
hoat ong kinh doanh
Tien chi khac t
hoat ong kinh doanh
Lu tien chuyen
thuan t hoat ong
kinh doanh
Lu
chuyen
t
hoat ong au t
Tien mua
sam,
xay dng TSC va
cac tai san dai
han khac
Tien thu t thanh
ly nhng ban TSC
va cac tai san dai
han khac
Tien chi cho vay,
mua cac cong cu n
cua n v khac
Tien thu hoi cho
vay, ban lai cong cu
n cua n v khac
Tien chi au t
gop von vao n v
khac
Tien thu lai cho
vay co tc va li
nhuan c chia
Lu chuyen tien
thuan t hoat ong
au t
Lu chuyen tien
t hoat ong tai
chnh
Tien vay ngan han
dai han nhan c
Tien chi tra n
goc vay
Tien chi tra n
thue tai chnh
Co tc li nhuan
a tra cho chu s
SVTH:TRAN VAN
(20,085,830,705)
(21,690,779,275)
(212,000,000)
(2,600,000,000)
12,004,500
(3,799,658,500)
(4,706,543,728)
170,141,941,781
(352,402,154,958)
11,627,273
363,636,364
(92,608,750,000)
(187,900,000,000)
23,530,780,000
222,566,000,000
(3,720,000,000)
(44,053,340,000)
4,001,699,714
(72,422,706,363)
(5,385,640,286)
103,948,452,978
489,119,425,069
(199,683,465,226)
(147,561,880,787)
15,834,400,000

TRANG 39

VINH
hu
Lu chuyen tien
thuan t hoat ong
tai chnh
Lu chuyen tien
thuan trong nam
Tien
va
tng
ng tien au nam
anh hng thay
oi ty gia hoi
oai quy o ngoai
te
Tien
va
cac
khoan tng ng
tien cuoi nam
SVTH:TRAN VAN
(95,735,012,248)
357,391,944,282
1,984,223,170
(395,850,962)
689,675,426
1,085,526,389
2,673,898,596
689,675,427
2.4.1.Nhan xet chung:

Theo so lieu bang tren th ta thay rang nguon tien chnh cua
cong ty nam 2012 la t hoat ong kinh doanh, con nam 2011 chu
yeu la t hoat ong tai chnh.
Luong tien chnh cua cong ty nam 2012 chu yeu thu ve t hoat
ong san xuat kinh doanh cho thay la dau hieu tot hn nam 2011
(vao nam 2011 a au t kha nhieu vao hoat ong kinh doanh
len en con so 352,402,154,958 (ong). Nam 2012 hoat ong au
t giam 5,385,640,286 (ong) va lu chuyen tien thuan t hoat
ong san xuat kinh doanh la 170,141,941,781 (ong) do cac khoan
phai thu giam 158,243,838,948 (ong), hang ton kho tang
67,218,202,235 (ong) va cac khoan phai tra tang giam.
Nam 2012 dong tien hoat ong san xuat kinh doanh la
170,141,941,781 (ong) ln hn li nhuan sau thue thu nhap doanh
nghiep la 10,947,543,225 (ong) ay la mot dau hieu tot cho
cong ty sau khi phai trai qua nam 2011 gap nhieu kho khan vi
nghanh bat ong san gan nh ong bang trong cac nam va
qua.
Cac khoan thu - chi trong hoat ong san xuat kinh doanh trong nam
2012 cong ty a co tien tao ra t hoat ong san xuat kinh doanh
la 170,141,941,781 (ong) chiem cao hn 20% doanh thu thuan la
141,801,243,571(ong) cong ty a thu tien nhieu hn chi tien , (t
hoat ong au t la -5,385,640,286 (ong) chiem -3.73%:chi nhieu
hn thu, t hoat ong tai chnh la
-95,735,012,248 chiem
-67.49%:chi nhieu hn thu) Nam 2011 tien thu t hoat ong kinh
doanh chiem -172.63% ;chi nhieu hn thu.

TRANG 40

VINH
SVTH:TRAN VAN
2.5 PHAN TCH CAC TY SO TAI CHNH

Bang phan tch:
n v tnh: VN
Chenh lech
Cac ch tieu cau
truc tai chnh
Tong tai san
Tuyet oi
Tng
oi
(%)
1,050,838,332, 777,696,420,
939
431
273,141,912,
508
35.12
%
786,098,120,0
23
658,451,764,
029
127,646,355,
994
0.85
-0.10
19.39
%
11.65
%
0.15
0.05
126.81
%
32.56
%
98,156,596,7
05
232,336,067,
838
0.13
0.19
236.7
%
149.18
%
119,101,171,
306
253,774,528,
084
94,228,460,3
95
175,890,335,
549
79.12
%
69.31
%
0.47
0.03
5.79%
100,000,000,
000
0.00
0.13
0.06
0.00%
48.01
%
Cuoi nam
au nam
1. Tnh he so n
N phai tra
He so n = N
phai tra/tong tai
san
0.75
2. Tnh he so t tai
tr
213,329,631,7
Von chu s hu
01
He so t tai tr =
VCSH/Tong TS
0.2
3.Tnh ty suat au
t
330,492,664,5
Tai san co nh
43
Ty suat au t =
TSC/Tong TS
0.31
4. Tnh ty suat t
tai tr TSDH
213,329,631,7
Von chu s hu
01
429,664,862,6
Tai san dai han
33
Ty suat t tai tr
TSDH = VCSH/TSDH
0.5
5. Tnh ty suat von
co phan
VCP cua chu s 200,000,000,0
hu
00
Ty suat von co
phan = VCPCCSH/TTS 0.19
119,101,171,
306

TRANG 41

VINH
SVTH:TRAN VAN
2.5.1 Phan tch cac ch tieu:

2.5.1.1 Ch tieu he so n:
He so nay phan anh ve cau truc tai chnh cua doanh
nghiep. No cho ta biet bao nhieu phan tram tai san cua cong ty
c tai tr bang von vay.
Nam 2012: he so n:
au nam: HSN = 0.85
Cuoi nam: HSN = 0.75
- oi vi nha cho vay: ho thch oi tng ho cho vay co he so
n cang thap cang tot. V ieu o am bao n cua ho de lay
lai hn khi doanh nghiep co chuyen khong may xay ra.
- oi vi doanh nghiep: th phan ln eu thch he so n cang
cao cang tot. Do co the tang li nhuan ma ho khong phai s
dung von cua mnh.
- Ta thay cuoi nam 2012
he so n cua cong ty giam la
11.65% so vi au nam (au nam HSN = 85%, cuoi nam HSN =

75%) ieu o cho thay trong nam 2012 khoan n cua Cong ty a
giam hn nam 2011. Cong ty t s dung von cua mnh nhng trong
nam 2012 li nhuan cua Cong ty th giam, con khoan vay th lai
tang
chng to trong nam nay tnh hnh hoat ong kinh doanh cua
cong ty khong hieu qua.

- oi vi khoan n cao nh hien nay cong ty phai co bien
phap ngan nga s rui ro co the xay ra, phai co am bao c
kha nang thanh toan cua mnh, tao uy tn vi khach hang va chu
n.
2.5.1.2 He so t tai tr:
He so nay phan anh s ong gop cua chu s hu oi vi
tai san ang s dung.
Nam 2012: he so t tai tr
TRANG 42

VINH
SVTH:TRAN VAN
au nam: HSTTT = 0.15

Cuoi nam: HSTTT = 0.2
Nam 2012: he so t tai tr trong nam cua cong ty tang 32.56%
(au nam la 15%, cuoi nam la 20%). Trong nam 2012, von au t
cua chu s hu tang 94,228,460,395 (ong) tng ng tang la
79.12% .
2.5.1.3 Ty suat au t:
Viec au t theo chieu sau, au t mua sam trang thiet b c
anh gia thong qua ch tieu ty suat au t. Ty suat nay phan
anh tnh hnh trang thiet b c s vat chat ky thuat, the hien
nang lc san xuat va xu hng phat trien lau dai cua Cong ty.
Nam 2012: ty suat au t
au nam: TST = 0.13
Cuoi nam: TST = 0.31
Ty suat au t trong nam 2012 au nam la 13%, cuoi nam
la 31% . ieu nay chng to trong nam 2012 cong ty chu trong
trong au t may moc thiet b thi cong la do Cong ty chuyen ve
lnh vc , thiet ke, thi cong . Ty suat au t cuoi nam so vi au
nam tang 149.18% . Phan anh lng tai san co nh trong tong
tai san tang (do trong nam nay doanh nghiep co au t ln them
TSC). ieu o chng to trong nam 2012 cong ty chu trong viec
m rong au t.
2.5.1.4 Ty suat t tai tr dai han:
He so nay noi len mc ong gop cua chu s hu oi vi
cac khoan s dung dai han.
Nam 2012 : ty suat t tai tr dai han
au nam: TSTTT DH= 0.47
Cuoi nam: TSTTT DH = 0.5
Nam 2012, ta thay cuoi nam ty suat nay tang 5.79% so vi
au nam => ieu o cho thay kha nang t chu ve t tai tr
dai han khong cao lam cho thay cong ty khong that s chu
TRANG 43

VINH
SVTH:TRAN VAN
ong c ve cac khoan s dung dai han nh: au t m rong

quy mo san xuat, phat trien theo chieu sau, a dang hoa nganh
nghe kinh doanh tang kha nang san xuat, giam thieu rui ro trong
kinh doanh cho doanh nghiep.
2.5.1.5 Ty suat von co phan:
Ch tieu nay phan anh ty le gia tai san do chu s hu
ong gop so vi toan bo tai san trong doanh nghiep ang s
dung.
Nam 2012: ty suat von co phan
au nam: TSVCP = 0.13
Cuoi nam: TSVCP = 0.19
Nam 2012 TS cua VCP cuoi nam tang 48.01% so vi au nam
(au nam la 13%, cuoi nam 19%).Trong nam 2012, von co phan
cua cong ty tang len do cong ty a thc hien chuyen oi trai
phieu thanh co phieu.
Cong ty co mot cau truc tai chnh cung tng oi hp ly.
Nhng trong nam nay cac khoan n cua cong ty van ang rat cao,
v vay ta can phai co mot giai phap lam cho cau truc tai chnh
hp ly hn, e on nh doanh nghiep trong thi ky kho khan nay.
2.5.2 Phan tch tnh hnh cong n va khan nang thanh toan:
2.5.2.1 Phan tch tnh hnh cong n:
Phan tch tnh hnh cong n la anh gia tnh hp ly ve cac
khoan phai thu va phai tra giup ta co nhng nhan nh chnh
xac hn ve thc trang tnh hnh tai chnh tai doanh nghiep. T o
co the tm ra nguyen nhan dan en s tr tre trong thanh toan
hoac co the khai thac c kha nang tiem tang giup doanh
nghiep lam chu c tnh hnh tai chnh, am bao cho doanh nghiep
phat trien. Sau ay la noi dung phan tch:

TRANG 44

VINH
SVTH:TRAN VAN
Bang phan tch :

TRANG 45

VINH
SVTH:TRAN VAN
n v tnh: VN
Ch tieu
Cuoi
2012
nam au
2012
Chenh lech
nam
Tuyetoi
Tng
oi %
(5)=(4)/
(3)
(1)
(2)
(3)
(4) = (2)-(3)
I. Cac khoan
phai thu
A. Cac khoan
phai thu ngan
han
1. Phai
thu
khach
hang
2. Tra
trc
cho
ngi
ban
3. Phai
thu noi bo
ngan han
4. Phai
thu theo tien
do ke hoach
hp
ong xay
dng
5. Cac
khoan
phai
thu khac
6. D
phong
phai
thu ngan han
kho oi
B.
Cac
khoan
phai
thu dai han
1. Phai thu
dai han cua
khach hang
2. Von kinh
doanh n v
trc thuoc
3. Phai thu
dai han noi
bo
280,068,481,
764
258,151,229,
918
21,917,251,8
46
8.49
279,354,191,
271
258,151,229,
918
21,202,961,3
53
8.21
151,676,894,
568
83,922,060,7
94
67,754,833,7
74
80.74%
70,439,840,7
03
88,531,794,7
51
18,091,954,0
48
-20.44%
2,252,504,5
00
55,662,395,1
27
2,252,50
4,500
85,697,374,3
73
714,290,493
30,034,979,2
46
-35.05%
714,290,493

TRANG 46

VINH
4. Phai thu
dai han khac
5. D
phong
phai
thu dai han
kho oi
II. Cac khoan
phai tra
A. N ngan
han
SVTH:TRAN VAN
714,290,493
714,290,493
786,098,120,
022
320,527,648,
717
658,451,764,
029
313,981,449,
445
127,646,355,
993
6,546,199,27
2
1. Vay va
110,596,64
204,807,903,
n ngan han
1,894
802
2. Phai
98,021,503,5 17,990,544,2
tra
ngi
33
94
ban
3. Ngi
12,862,258,8 11,453,221,1
mua tra tien
95
03
trc
4. Thue
va cac khoan 28,788,050,5 19,730,274,2
phai nop Nha 84
42
nc
5. Phai
1,434,219,98
tra ngi lao
835,714,000
8
ong
6. Chi ph
37,655,437,2
phai tra
48
7. Phai
tra noi bo
8. Phai
tra theo tien
o ke hoach hp ong xay
9. Cac
khoan
phai
27,321,130,7
tra, phai nop
99
ngan
han
khac
10. D
phong
phai
tra ngan han
11. Quy
khen
thng 3,848,405,77
phuc li
6
19.39
2.08
(94,211,261,9
-19.37
08)
80,030,959,2
39
444.85%
1,409,037,76
2
12.3%
9,057,776,34
2
45.91%
598,505,988
71.62%
46,701,586,1
50
(9,046,148,90
2)
10,330,708,6
56
16,990,422,1
43
2,131,497,19
8
1,716,908,57
80.55%
8
1
21,100,156,7
3515.55%
21
B. N dai
465,570
344,470,314,
han
,471,305
584
-19.37%
164.47%

TRANG 47

VINH
1. Phai
tra dai han
ngi ban
2. Phai
tra dai han
noi bo
3. Phai
tra dai han
khac
4,104,085,20
0
4,104,085,20
0
86,220,553,4
94
60,704,249,6
60
59,761,090
(59,761,090)
4. Vay va
318,894,249,
n dai han
660
5. Thue thu
nhap hoan lai
phai tra
6. D
phong tr cap
mat viec lam
7. D
phong
phai
tra
dai han
8. Doanh thu
cha
thc hien
9. Quy
phat
trien
khoa hoc cong
nghe
Ty so cac
khoan
phai
thu/
cac
khoan
phai
tra
SVTH:TRAN VAN
23.51%
142,572,136,
445
86,220,553,4
94
56,351,582,9
51
0.356
0.392
(0.036)
65.36 %
-9.13%
Ta thay cac khoan phai thu < cac khoan phai tra nen cong ty
ang i chiem dung von.
Bang phan tch tren cho thay: Trong nam 2012, cuoi nam so
vi au nam, cong n phai thu va cong n phai tra eu tang,
cu the: cong n phai thu tang
21,917,251,84
(ong) tng ng
tang 8.49% va cong n phai tra tang 127,646,355,993
(ong)
tng ng tang 19.39 %.Ty le cong n phai tra cao hn gap 6 lan
cong n phai thu, nh vay la cong ty i chiem dung von nhieu no

TRANG 48

VINH
SVTH:TRAN VAN
se anh hng cho hoat ong kinh doanh ky tiep theo, nhat la trong
thi ky lai suat tang cao nh hien nay.
Cac khoan phai thu cua cong ty tang chu yeu la cac khoan
phai thu ngan han tang, cu the la:
Phai thu khach hang tang 67,754,833,774 (ong), tng ng
tang 80.74% => ieu nay la do cong tac thu hoi n cha tot.
Cac khoan phai tra cua cong ty n ngan han tang va n
dai han eu tang. Cu the la:
* N ngan han: Cac khoan vay va n ngan han giam manh
nhng cac khoan phai tra ngi ban , thue va cac khoan nop
nha nc, cac khoan phai tra phai nop ngan han khac eu
tang nen mot phan cung lam cho n ngan han tang cu the:
Vay va n ngan han giam
94,211,261,908 (ong) tng ng
tang 19.37%
Phai tra ngi ban tang 80,030,959,239 (ong) tng ng
tang 444.85%
Thue va cac khoan nop nha nc tang
9,057,776,342
(ong) tng ng tang 45.91%
Cac
khoan
phai
tra
phai
nop
ngan
khac
tang
16,990,422,143 (ong) tng ng tang 164.47%

=>ieu nay cho thay trong nam 2012 nay cong ty ang chiem
dung mot lng von ln nh viec tra cham cho ngi ban va
cac khoan thue va phai nop ngan han khac tang cho thay
viec thc hien ngha vu nop thue cua cong ty la cha tot.
* N dai han: Vay va n dai han , phai tra dai han khac, doanh
thu cha thc hien eu tang nen lam cho n ngan han dai han
tang cu the:
Vay va n dai han tang
60,704,249,660
(ong) tng ng
tang 23.51%
TRANG 49

VINH
Doanh thu cha thc hien tang
SVTH:TRAN VAN
56,351,582,951
(ong) tng
ng tang 65.35%
Trong nam 2012, tnh hnh kinh te van con nhieu kho kho khan
ca trong nc va the gii hn na nganh kinh doanh bat ong
san van con ong bang nen anh hng nhieu en nganh xay
dng nen viec tm kiem hp ong mi va viec khach hang thanh
toan trc b han che.
2.5.2.2 Phan tch kha nang thanh toan:
Phan tch kha nang thanh toan cua Cong ty nham giup thong
tin cho moi oi tng biet c kha nang tai chnh cua Cong ty.
Kha nang tai chnh c xet goc o hien thi va trong thi
gian ti. Mat khac phan tch kha nang thanh toan con biet c
tnh hnh s dung von cua Cong ty a hieu qua cha, Cong ty a
xay dng che o thu chi phu hp cha. oi vi nha kinh doanh khi
Cong ty s dung von khong phu hp lam cho hieu qua s dung
von thap va khong co u tien e thanh toan th dau hieu rui ro
lai xuat hien.
e co c s anh gia tnh hnh thanh toan cua Cong ty trong
thi gian ti can i sau vao phan tch kha nang thanh toan:
Bang phan tch:
Nhom ch tieu khan nang Cuoi
nam
thanh toan
2012
1. He so kha nang thanh
toan tong quat
1,050,838,332,
Tong tai san
939
786,098,120,02
N phai tra
3
He so kha nang thanh toan
1.34
tong quat = TTS/NPT
2. He so kha nang thanh
toan hien hanh
621,173,469,30
Tai san ngan han
6
au
2012
nam
777,696,420,4
31
658,451,764,0
29
1.18
523,921,892,3
47

TRANG 50

VINH
SVTH:TRAN VAN
320,527,648,71
7
N ngan han

1.94
hien hanh = TSNH/NNH
3. Ty so kha nang thanh
toan nhanh
621,173,469,30
Tai san ngan han
6
237,248,364,20
Hang ton kho
6
320,527,648,71
N ngan han
7
Ty so kha nang thanh toan
1.2
nhanh = (TSNH-HTK)/NNH
313,981,449,4
45
1.67
523,921,892,3
47
170,030,161,9
71
313,981,449,4
45
1.13
4.Von lu ong
621,173,469,30
6
320,527,648,71
7
300,645,820,58
9
Tai san ngan han

N ngan han
Von lu ong = TSDH-NNH
523,921,892,3
47
313,981,449,4
45
209,940,442,9
02
5.Khan nang thanh toan lai

vay
EBIT
Lai vay
He so thanh
vay=EBIT/Lai vay
toan
lai
2.5.2.3 He so kha nang thanh toan tong quat:

e o lng kha nang thanh toan tong cua doanh nghiep
ngi ta dung toan bo tai san cua Doanh nghiep
y ngha: Toan bo tai san co kha nang am ng c
toan bo cac khoan n cua Doanh nghiep
Tong tai san

tong quat =
N phai tra

TRANG 51

VINH
SVTH:TRAN VAN
Nam 2012:
au ky:

777,696,420,43
tong quat =
658,451,764,02
9
= 1.18
Cuoi ky:
1,050,838,332,93
9
tong quat =
= 1.34
786,098,120,023
Nh vay: Trong nam 2012, He so kha nang thanh toan cua

doanh nghiep eu ln hn 1, nh vay la toan bo tai san cua
doanh nghiep co kha nang am ng c toan bo cac khoan
n cua doanh nghiep. =>Doanh nghiep khong lo mat kha nang
thanh toan.
Kha nang thanh toan tong quat cua doanh nghiep cuoi nam
2012 tang so vi au nam v doanh nghiep nay co he so kha
nang thanh toan tong quat cuoi ky ln hn au ky. ieu nay la
do tong tai san cuoi nam tang va tang nhanh hn tong n phai
tra cua toanh nghiep => Nh vay, trong nam 2012 toan bo tai
san cua doanh nghiep co kha nang am ng c toan bo cac
khoan n cua doanh nghiep. Doanh nghiep khong lo mat kha nang
thanh toan.

TRANG 52

VINH
SVTH:TRAN VAN
2.5.2.4 He so kha nang thanh toan hien hanh:

He so thanh toan ngan han dien ta moi quan he gia tai
san ngan ha vi n ngan han. No s dung mot cach rong rai
nh mot tn hieu ro rang ve kha nang thanh toan ngan han cua
mot doanh nghiep.
y ngha: Tai san ngan han co kha nang am ng c
cac khoan n ngan han ma khong can phai vay them. V vay,
yeu cau can phai ln hn 1.
Tai san ngan
han
hien hanh =
N ngan han
Nam 2012:
au ky:
523,921,892,347
hien hanh =
= 1.67
313,981,449,445
Cuoi ky:
621,173,469,306
hien hanh =
= 1.94
320,527,648,717
Nh vay: Trong nam 2012 doanh nghiep nay co he so kha

nang thanh toan hien hanh ap ng c yeu cau >1. Nh vay
la nam 2012 tai san ngan han co kha nang am ng c
cac khoan n ngan han.
Nam 2012, he so kha nang thanh toan hien hanh cuoi nam
ln hn au nam.Nguyen nhan la do:

TRANG 53

VINH
SVTH:TRAN VAN
Tai san ngan han cua doanh nghiep tang cu the au nam
la 532,921,892,347 (ong), cuoi nam la 621,173,469,306 (ong)
tang 97,251,576,959 (ong) tng ng tang 18.56%. ieu nay la do
Khoan phai thu ngan han tang va hang ton kho tang ieu nay
chng to doanh nghiep a giam
hieu qua s dung von cua
mnh.
Tai san dai han cua doanh nghiep tang cu the au nam la
253,774,528,084 (ong), cuoi nam la 429,664,863,634 (ong) tang
175,890,335,550 (ong) tng ng tang 69.31%. ieu nay la do cac
khoan phai thu dai han tang va tai san co nh tang ieu nay
chng to doanh nghiep a chu trong m rong quy mo au t .
Trong khi o n ngan han au nam la 313,981,449,445 (ong),
cuoi nam la 320,527,648,717 (ong)
tang 6,546,199,272
(ong)
tng ng tang 2.08%. Va N dai han au nam 344,470,314,584

(ong), cuoi nam 465,570,471,305 (ong) tang 121,100,156,721 tng
ng tang 35.16%,. Nh vay do tai san ngan han, tai san dai han
trong nam tang nhng lai tang nhanh hn n ngan han va n dai
han lam cho he so kha nang thanh toan hien hanh tang.
2.5.2.5 He so kha nang thanh toan nhanh:
Mot trong nhng thieu sot cua he so kha nang thanh toan
ngan han la khong quan tam en ac iem cua cac tai san
ngan han khi tnh toan Ro rang, mot ong tien mat hoac ngay
ca mot ong cac khoan phai thu co the ap ng ngha vu thanh
toan tot hn mot ong cac khoan hang ton kho. He so kha
nang thanh toan nhanh c lap ra e khac phuc van e nay, o
la no o lng tai san ngan han co kha nang chuyen thanh
tien nhanh
(tien, cac khoan au t ngan han, cac khoan phai
thu) so vi n ngan han.

y ngha: Cong ty co kha nang thanh toan (tra) cac khoan
n ngan han ma khong can phai vay them va khong can phai
ban hang ton kho.
TRANG 54

VINH
SVTH:TRAN VAN
Tai san ngan han hang ton

kho
nhanh =
N ngan han
Nam 2012:
au ky:
523,921,892,347
170,030,161,971
He so kha nang TT
tc thi =
=1.13
313,981,449,445
Cuoi ky:
621,173,469,306
237,248,364,206
He so kha nang TT
nhanh =
= 1.2
320,527,648,717
He so kha nang thanh toan nhanh trong nam 2011 la 1.13 va

nam 2012 la 1.2. Nam 2012 cao hn 0,07 lan(1,2-1.13). ieu nay cho
thay kha nang tai chnh nam 2011 va sang nam 2012 khong thay
oi nhieu. He so kha nang thanh toan nhanh tang nhng khong
cao la do tien va cac khoan tng ng tien tang, tai san ngan
han khac tang lai tang nhanh hn toc o tang cua n ngan han.
Qua phan tch ta thay tnh hnh tai chnh cua Cong ty la tot, ve
tong quat th Cong ty co kha nang thanh toan.
2. 5.3 Phan tch hieu qua s dung von
2.5.3.1 Hieu suat s dung tai san (so vong quay tai san)
Doanh thu thuan
Hieu suat s dung tai san =
Tong tai san bnh quan
Noi len cng o s dung tai san; y ngha mot ong tai san
co kha nang tao ra c bao nhieu doanh thu.

TRANG 55

VINH
SVTH:TRAN VAN
Doanh thu thuan = Doanh thu thuan ve ban hang va cung cap dch
vu + Doanh thu hoat ong tai chnh .
Tai san ( au ky + cuoi ky )
Tai san bnh quan =
2
Bang Hieu suat s dung tai san cua cong ty qua 2 nam
Chenh lech
Ch tieu
Nam 2012
Nam 2011
Tuyet oi
Tng
oi%
Doanh thu thuan

Tai san au ky
141,801,243,57
1
777,696,420,43
1
204,139,152,5
20
699,496,000,000
(62,337,908,9
49)
(30.5)
78,200,420,43
11.18
273,141,912,5
35.12
08
Tai san cuoi
1,050,838,332,
ky
939
Tong tai san
914,267,376,68
738,596,210,
175,671,166,4
23.78
bnh quan
216
70
0.155
0.276
(0.12)
777,696,420,431
Hieu suat s
dung Tai san
(So vong quay
(43.8)
%
tai san)
Nhan xet:

TRANG 56

VINH
SVTH:TRAN VAN
Ta thay so vong quay tai san nam 2011 la 0,276 vong, nam
20012 la 0,155 vong. Nh vay so vong quay tai san nam 2012 a
giam 0,12 tng ng vi toc o giam 43.8%. ieu o co ngha
la c 1 ong von s dung trong nam 2012 tao ra doanh thu t hn so
vi nam 2011 la 0,12 ong. S d nh the la do nguyen nhan sau:
Doanh thu thuan nam 2012 giam hn 62 ty ong, tng ng
vi toc o giam la 30.05%; Trong khi tong tai san bnh quan tang
hn 175 ty ong, tng ng vi toc o tang la 23.78%.
Trong tong tai san bnh quan th co the do d bien ong
cua tai san lu ong bnh quan hoac tai san co nh bnh quan
e hieu ro hn ve kha nang s dung tai san ta can ket hp
vi ch tieu hieu suat s dung tng loai tai san
2.5.4 Phan tch kha nang sinh li:
Kha nang sinh li la ieu kien e duy tr va phat trien cua moi
Doanh nghiep. Chu ky song cua Doanh nghiep dai hay ngan phu
thuoc rat ln vao kha nang sinh li. Kha nang sinh li cua
doanh nghiep c xem xet tren nhng kha canh khac nhau tuy
theo quan iem cua ngi s dung thong tin. ay, chung ta ch
xem xet tren 3 goc o:
Bang phan tch :
n v tnh: VN
Cac ch tieu phan tch
Nam 2012
Nam 2011
Li nhuan
10,947,543,226
Doanh thu thuan
141,801,243,571
Tong tai san bnh quan
914,267,376,685
Tong tai san au ky
777,696,420,431
11,277,469,431
204,139,152,52
0
392,041,267,66
6
699,496,000,00
0
777,696,420,43
1
123,111,085,65
3
Tong tai san cuoi ky

Von chu s hu bnh quan
1,050,838,332,9
39
166,215,401,50
4

TRANG 57

VINH
SVTH:TRAN VAN
Von chu s hu au ky
119,101,171,306
Von chu s hu cuoi ky
213,329,631,701
Suat sinh li cua doanh thu (ROS)
7.72%
Suat sinh li tai san (ROA)

1.20%
Suat sinh li cua von chu s
6.59%
hu (ROE)
127,121,000,00
0
119,101,171,30
6
5.52%
1.53%
9.16%
2.5.4.1 Phan tch suat sinh li cua doanh thu (ROS).

Kha nang sinh li t hoat ong cua doanh nghiep phan anh
kha nang hoat ong ma doanh nghiep tien hanh tm kiem c li
nhuan. Hay con goi la kha nang sinh li cua hoat ong
ROS =
LN
x 100%
Doanh thu thuan
Ta co : Li nhuan : = Li nhuan sau thue cua doanh nghiep

Doanh thu thuan = D.thu thuan ve ban hang va cung cap dch vu Cac khoan giam tr doanh thu.
y ngha: Ch tieu nay cho biet mot ong doanh thu tao ra c bao
nhieu ong li nhuan.
Nhan xet : Ket qua tnh toan tren cho ta thay suat sinh li
doanh thu cua cong ty nam 2012 so vi nam 2011 tang, cu the
nam 2011 la 5.52% va nam 2012 la 7.72%. Nguyen nhan la do:
doanh thu trong nam 2012 giam mot lng la 62,337,908,949 (ong)
tng ng giam 30.54%, con li nhuan th giam 392,926,205(ong )
tng ng giam en 2.93% ta thay mac du li nhuan va doanh thu
eu giam nhng mc o giam cua li nhuan nho hn rat nhieu
vi doanh thu dan en ty suat sinh li doanh thu tang. Ch so
nay cho thay mc sinh li t hoat ong kinh doanh cua Cong ty
co xu hng tang.

TRANG 58

VINH
SVTH:TRAN VAN
2.5.4.2 Suat sinh li cua tai san (ROA):

Suat sinh li cua tai san la kha nang sinh li cua tong so
von doanh nghiep s dung. Ta co the tnh nh sau:
LN
ROA =
TSBQ
TSBQ : Tai san bnh quan
LN
: Li nhuan
Nh bang tren ta co:

Nam 2011
ROA= 1.53%
Nam 2012
ROA= 1.20%
Y ngha: Ch tieu nay cho biet mot ong tai san noi chung
tao ra c bao nhieu ong li nhuan.
Qua ch tieu nay, chung phan anh kha nang sinh li cua
tai san ma doanh nghiep s dung. Nam 2011 c 1 ong tai san
bo ra th doanh nghiep thu c li nhuan la 1.53 % en nam 2012
th c 1 ong tai san bo ra th doanh nghiep thu c li nhuan la
1.2%.
2.5.4.3 Suat sinh li cua von chu s hu (ROE)
ROE =
LN
VCSH
Ty le sinh li cua nguon von CSH=Li nhuan thuan*100%

/Nguon von chu s hu
VCSH: Von chu s hu
LN: Li nhuan
Y ngha:Ch tieu nay cho biet mot ong von chu s hu tao ra
c bao nhieu ong li nhuan.
Nh tren ta co:
TRANG 59

VINH
SVTH:TRAN VAN
Nam 2011
ROE= 9.16%
Nam 2012
ROE= 6.59%
Ty suat li nhuan tren von chu s hu nam 2012 la 6.59%

va nam 2011 la 9.16%, thap hn so vi nam 2011 la 2.57%. Cho ta
thay, c 1 ong von chu s hu bo ra th trong nam 2012 thu
c li nhuan thap hn so vi nam 2011 la
2.57 %. Ty suat nay
giam o la do li nhuan trong nam 2012 giam nhanh hn von chu

s hu.
Tom lai : Trong nam 2012, tnh hnh tai chnh cua cong ty cha
c tot V vay ma suat sinh li cua tong tai san va von chu
s hu cung giam theo.
2.5.5 Phan tch hieu qua s dung von co phan:
oi vi Cong ty co phan ngoai nhng ch tieu nh tren sau
ay ta se i phan tch mot so ch tieu at thu ve cong ty co
phan e biet c ro hn hieu qua kinh doanh cua mot co phieu
hay mot co ong.
Bang phan tc hieu qua kinh doanh oi vi von co phan:
n v tnh: VN
Cac ch tieu phan tch
Nam 2012
Li nhuan ke toan sau thue

10,947,543,226
TNDN
Co tc co phieu u ai
Li nhuan phan bo cho co
ong
So lng co phieu pho
thong bnh quan ang lu
hanh
Gia th trng P
Thu nhap mot co phieu
pho thong (EPS)
Nam 2011
11,277,469,431
-
10,947,543,226
11,277,469,431
15,269,000
8,889,000
10,000
10,000
717
1,128

TRANG 60

VINH
SVTH:TRAN VAN
Ty gia th trng/thu nhan

13.9
mot co phieu P/E
8.9
2.5.5.1 Thu nhap mot co phieu pho thong (EPS)

Ch tieu nay cho biet trong nam hoat ong moi co phieu
pho thong se thu c bao nhieu ong li nhuan. EPS cang cao
chng to hieu qua KD tot, la nhan to hap dan nha au t.
LN sau thue - co tc CP u
ai
Thu nhap mot CP pho
thong =
So CP pho thong bnh quan
So CP PT au nam + So CPPT
cuoi nam
So co phieu pho thong bnh quan =
2
Nam 2011: EPS = 1128 (ong)
Nam 2012: EPS = 717 (ong)
Nhan xet: Vi ch tieu nay, trong nam 2012 hoat ong moi
co phieu pho thong se thu c 1128 (ong) li nhuan, con nam
2011 la 717 (ong) nh vay trong nam 2012 li nhuan giam en
411 (ong) chng to trong nam nay viec tm kiem li nhuan cho
cong ty gap nhieu kho khan, t tao c niem tin cho cac nha
au t trong viec bo von vao cong ty.
2.5.5.2 Ty gia th trng/thu nhap cua moi co phieu
thng (P/E):
ay la mot ch so c cac nha au t s dung rat pho
bien trong phan tch tai chnh . y ngha au tien cua ch so nay
TRANG 61

VINH
SVTH:TRAN VAN
la bieu hien mc gia nha au t san sang bo ra cho mot ong

thu c t co phieu o.
Nam 2011: P/E = 8.9 (ong)
Nam 2012: P/E = 13.9 (ong)
Qua tren ta thay:
Vao nam 2011 e nhan c mot ong co phieu th nha au
t phai bo ra la 8.9 (ong) sang nam 2012 e nhan c mot
ong co phieu th nha au t bo ra 13.9 (ong). Ch so P/E nam
2011 thap hn so vi ch so P/E nam 2012 nh vay trong nam 2011
cong ty lam an co hieu qua hn
2.5.6 Phan tch Dupont cac ty so tai chnh:
ROE
9.16%
Nam 2011:
ROA
1.53%
ROS
5.52%
Lai rong sau

thue
Lai rong
trc thue
Doanh thu
cong
thuan+Doanh
thu HTC+TNK
230,987,783,66
Nhan
Doanh thu
thuan
204,139,152,52
Chia
Tr
Nhanon bay tai
chnh 6.0
So vong quay tai

san
0.28
Doanh thu
thuan
204,139,152,
Thue TNDN
5,950,830,491
Tong
chi ph
217,712,982,283
Tai san
ngan han
523,921,892,
Chia
Tai san bnh

quan
738,596,210,21
Tai san dai
han
253,774,528,08
Tr
Ga von hang
ban
141,946,291,95
Chi ph ban
hang
THIT KE10,094,173,080
MON HC PHAN TCH HOAT ONG KINH T
Tien va cac
khoan tng
ng tien
689,675,426
Cac khoan
TTCNH
82,790,897,011
TRANG 62

VINH
SVTH:TRAN VAN
Khoan phai thu NH

258,151,229,918
Chi ph QLDN
18,470,523,506
Hang ton kho

170,030,161,971
Chi ph tai chnh

32,841,188,274
Chi ph khac
329,263,519
Tai san NH
9,145,
034,946
ROE
6.59%
Nam 2012:
Nhan
ROA
1.20%
Nhan
ROS
7.72%
Lai rong sau

thue
Chia Doanh thu

Tr
Lai rong trc

thue
13,274,801,377
Doanh thu
thuaan+Doanh
thu HTC+TNK
thuan
141,801,243,
Thue TNDN
2,327,258,15
Tong chi ph
Tr190,445,966,962
203,720,768,3
Ga von hang
ban
99,135,440,489
Chi ph ban
hang
on bay
tai chnh
5.50
So vong quay tai

san
0.155
Doanh thu thuan
141,801,243,57
1
Tai san ngan
han
621,173,469,306
Chia
Tai san bnh quan
914,267,376,685
Tai san
dai han
Cong
429,664,863,6
Tien va cac
khoan tng
ng tien
2,673,898,596
Cac khoan
TTCNH
81,060,000,000
Khoan phai thu
279,354,191,271

TRANG 63

VINH
Chi ph QLDN
15,538,622,038
SVTH:TRAN VAN
Hang ton kho

237,248,364,206
Chi ph tai chnh
54,621,971,121
Chi ph khac
3,732,588,700
Tai san NH khac

10,221,742,446
CHNG III : KET LUAN - KIEN NGH

3.1.KET LUAN
3.1.1.Nhan xet tom lc:
e ton tai va phat trien lau dai ac biet t khi khi nc ta tr
thanh thanh vien cua to chc thng mai the gii WTO ng
trc nhng kho khan va thach thc mi cac doanh nghiep Viet
Nam can phai thc s nhay ben, nang ong e theo kp nhng
bien oi o.
Qua qua trnh phan tch em nhan thay rang tnh hnh tai chnh cua
cong ty Co phan au t va phat trien nha at Cotec Land ang
gap mot so ton tai nhat nh o la cong tac thu hoi cong n
cha tot cac khoan phai thu van con cao mac du cong ty tai san
cua cong ty van u e am ng c viec thanh toan nhng
trong boi canh th trng hien nay th cac chi ph hau het eu
tang cao, lai suat vay cung cao nen cong ty can to chc tot cong
tac thu hoi cong n giam lng vay e giam thieu toi a tien
phai tra n vay ong thi can s no lc het mnh cua cac nhan
vien cung nh cac cap lanh ao a ra cac phng hng giai
quyet kho khan tm ra hng i thch hp e nham nang cao doanh
thu li nhuan cho cong ty khi th trng bat ong san xay dng
ang ong bang nh hien nay.
3.2.KIEN NGH
Sau khi phan tch tnh hnh hoat ong tai chnh cua cong ty em xin
e xuat mot so y kien sau.Tuy nhien nhng y kien a ra ch
mang tnh tham khao v tam nhn con han che do cha c tiep xuc
nhieu va trao oi thc te.

TRANG 64

VINH
SVTH:TRAN VAN
3.2.1 oi vi cong ty:

Tch cc thu hoi cong n ton ong, thc hien ay nhanh tien o
thc hien thi cong cac cong trnh,am bao cho viec thu hoi von
au t giam thieu cac cong trnh d dang..
Thc hien viec au thau co trong iem e am bao au thau
co hieu qua, tranh viec au thau tran lan gay lang ph chi ph.
Cong ty khong nen thc hien che do khoan trang v nh vay cac
n v cap di kho nhan c s ho tr ve von va ky thuat
t cong ty khi can thiet.
Cong ty nen thanh lap he thong quan ly chat lng cong trnh,
gan tranh nhiem cho moi cai nhan va tap the oi vi viec ay
nhanh tien o thc hien cong trnh cung nh chat lng cong trnh.
Viec bo tr quan ly nhan vien cung nh cong nhan trong cong ty
sao cho phu hp vi nang lc trnh o chuyen mon cua tng
ngi.Co cac ke hoach boi dng chuyen mon cho can bo quan
ly,chu trong trong cong tac tuyen dung cung nh ao tao cong
nhan vien co trnh o ky thuat tay nghe cao, co khan nang tiep
can nhng tien bo khoa hoc ky thuat mi.
Cong ty nen ng dung cong nghe thong tin vao viec quan ly
cac cong trnh nh cac phan mem quan ly cong trnh.Phan mem
se ho tr quan ly nhap xuat vat t,cham cong,tnh lng cho
cong nhan vien...Ben canh o phan mem con tong hp c
nhieu bao cao can thiet va chnh xac en tng thi iem tng
giai oan khac nhau giup ban lanh ao cong ty co the theo doi sat
sao tnh hnh lai lo cua cac cong trnh.
ay manh phong trao thi ua khen thng, khong ngng nang cao
i song can bo cong nhan vien.
nh ky cong ty nen tien hanh phan tch tnh hnh tai chnh e
biet c nhng mat manh cung nh mat yeu cua cong ty e co
nhng giai phap x ly kp thi va phu hp.
Khong ngng cung co tiep th nang cao hnh anh cua cong ty
bang chat lng va ky thuat cua cac cong trnh.
3.2.2 oi vi nha nc:
Nha nc can co bien phap ieu hanh va bo tr nguon von
au t xay dng c ban bi nguon von nay khi c nha nc
cap cho cac d an th phai giai ngan cham, do o anh hng
en viec quyet toan cua cong ty, lam cho viec thu hoi von cong
ty rat cham.
TRANG 65

VINH
SVTH:TRAN VAN
3.3 MOT SO GIAI PHAP CU THE:

Trc khi i vao giai phap nham cai thien hieu qua s dung tai
chnh tai cong ty, chung ta xem xet nguyen nhan dan en tnh hnh
tai chnh cha tot.
3.3.1 Nguyen nhan:
Do s bien ong qua nhanh cua th trng xay dng, cac cong
trnh luon oi hoi phai ng dung cac ky thuat cao e ap ng
yeu cau khat khe cua khach hang.V vay qua trnh thi cong phai
khong ngng no lc thch ng e phu hp vi tnh hnh mi va
au t trang thiet b hien ai nhng nguon von cua cong ty khong
the ap ng c.
Gia ca nguyen vat lieu trong thi gian qua luon bien ong lam
cho bo phan ky thuat gap rat nhieu kho khan trong viec lap ho
s d thau.
Tnh hnh theo doi cong ty cha tot dan en cac khoan phai thu
khong the thu c.
3.3.2 Cac giai phap:
3.3.2.1 Tang doanh thu :
ap dung cong nghe hien ai vao san xuat nh au t tram trung
chuyen be tong, cac xe van chuyen chuyen dung cung vi cac
thiet b xay dng hien ai e rut ngan chu ky san xuat kinh
doanh va nang cao chat lng nham tao uy tn cho cong ty.
Can co bo phan tiep th d thau, nghien cu tm hieu th trng
tm hieu nguon nguyen vat lieu vi gia ca hp ly, chat lng
tot e ky hp ong vi nha cung cap nham on nh gia ca,
giam gia thanh. T o a ra gia au thau thap nhng van am
bao chat lng.
Cong ty nen quan tam en viec ao tao nang cao nang lc
chuyen mon cho can bo cong nhan vien nhat la trong lnh vc t
van thiet ke giam sat cong trnh bi ay la lnh vc ay tiem
nang trong thi trng xay dng hien nay.
3.3.2.2 Quan ly tot chi ph:
Nh chung ta a biet tnh trang lang ph that thoat trong xay dng
c ban la rat ln. o la tnh trang chung cua nghanh xay dng
va ieu o a at ra cho cong ty phai s dung chi ph hp ly,
tranh lang ph, phai lam sao ay toc o tang cua doanh thu co
nh vay li nhuan mi tang len.e at c ieu nay can phai:
TRANG 66

VINH
SVTH:TRAN VAN
Xay dng ke hoach chi ph cu the, quan ly chat che tnh hnh thc
hien chi ph theo ke hoach, nhng chi ph nao vt ke hoach phai
co s chap thuan cua cap quan ly.
Tm kiem nguon nguyen lieu vat lieu gia ca hp ly, chat lng
tot, a iem thuan li e tiet kiem chi ph, giam chi ph van
chuyen ha gia thanh.
Tan dung toi a cong suat may moc, thiet b hien co e ay
nhanh tien o thc hien cong viec, rut ngan thi gian hoan
thanh cong trnh e tiet kiem chi ph
Quan ly tot tai san, trang thiet b van phong nham giam chi ph
sa cha mua sam.ong thi thc hien tot ch th tiet kiem
ien cua chnh phu nham giam chi ph.
Sap xep lai bo may quan ly cho thch hp vi tnh hnh mi, phan
cong ung ngi ung viec, nang cao tranh nhiem cua tng can
bo cong nhan vien hoan thien bo may gon nhe co nh vay mi
giam bt c chi ph quan ly doanh nghiep nham tang li nhuan
cho cong ty.
3.2.2.3 Nang cao hieu qua s dung vo co nh:
Xay dng ket cau tai san co nh hp ly, do cong ty hoat ong
lnh vc xay lap nen tai san co nh trc tiep cho san xuat can
chiem ty trong cao, tai san co nh ngoai san xuat, tai san
phuc vu gian tiep qua trnh san xuat kinh doanh can chiem ty
trong nho.T o giup cong ty khai thac co hieu qua tai san co
nh.
Theo doi chat che to chc hoach toan ay u chnh xac tai san
co nh e tranh h hong, mat mat tai san co nh.Quan ly
chat che cac chi ph trong qua trnh xay dng c ban.
S dung triet e thi gian, cong suat cua moi tai san co nh
e nang cao hieu qua s dung tai san co nh nh cho thue
thiet b may moc, phng tien van chuyen khi khong dung en.
Can chon ung an viec au t them tai san co nh e tranh
trnh trang lang ph.Neu can cong ty nen giam bt tai san co
nh khong trong hoat ong, ong thi thanh ly nhng tai san co
nh cu ky, lac hau nhng ban tai san khong can thiet e
tang von...co nh the mi phat huy c hieu suat s dung tai
san co nh.
Nang cao trnh o , y thc s dung va bao quan tai san cho can
bo cong nhan vien.ong thi bao dng thng xuyen tai san
TRANG 67

VINH
SVTH:TRAN VAN
co nh e duy tr nang lc bnh thng.Lap ke hoach sa cha

kp thi e an bao tai san khong b h hong trc thi han
s dung nham nang cao hieu qua lam viec cua tai san co nh.

TRANG 68

TKMH VINH TRAN 2003 Final2

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TKMH VINH TRAN 2003 Final2

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GVHD:Ths.

1.2 PHAN TCH MOI TRNG KINH DOANH DOANH NGHIEP10

2.2 PHAN TCH C CAU VA BIEN ONG CUA NGUON

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2.3.1 Nhan xet chung:................................................................................ 32

2.4 PHAN TCH BAO CAO LU CHUYEN TIEN TE............38

2.5 PHAN TCH CAC TY SO TAI CHNH...........................41

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2.5.5.2 Ty gia th trng/thu nhap cua moi co phieu thng (P/E):61

CHNG III : KET LUAN - KIEN NGH...........................64

3.3 MOT SO GIAI PHAP CU THE:...................................66

CHNG I: GII THIEU CHUNG

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ien thoai : (84) 08.54011888

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T 30/07/2010, Cong ty a ang ky niem yet va giao dch len

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THIT KE MON HC PHAN TCH HOAT ONG KINH T

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1.1.4. nh hng phat trien :

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1.1.6 Nguon nhan lc

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- Dien bien lao ong trong nam 2011

: 11 ngi chiem 9.56%

T 3 5 nam : 17 ngi chiem 14.78%

THIT KE MON HC PHAN TCH HOAT ONG KINH T

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vi mot cong ty. Ch so nay cho thay CotecLand ang s hu

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e cat tr hay nh mot kenh au t bnh thng cua ngi dan,

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THIT KE MON HC PHAN TCH HOAT ONG KINH T

GVHD:Ths.LE QUANG PHUC

Chung ta thay tong tai san cua cong ty cuoi nam so vi au

THIT KE MON HC PHAN TCH HOAT ONG KINH T

GVHD:Ths.LE QUANG PHUC

THIT KE MON HC PHAN TCH HOAT ONG KINH T

GVHD:Ths.LE QUANG PHUC

THIT KE MON HC PHAN TCH HOAT ONG KINH T

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21,202,961,353 (ong) tng ng tang 8.21%, ty trong lai chiem ty

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THIT KE MON HC PHAN TCH HOAT ONG KINH T

GVHD:Ths.LE QUANG PHUC

THIT KE MON HC PHAN TCH HOAT ONG KINH T

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THIT KE MON HC PHAN TCH HOAT ONG KINH T

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232,336,067,838 (ong) tng ng tang 236,70%, ty trong chiem ty

4,108,476,732 tng ng giam 4.19% trong tong tai san co nh =>

co the do cong ty thanh ly mot so tai san co nh nh

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2.2.1.Nhan xet chung:

THIT KE MON HC PHAN TCH HOAT ONG KINH T

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273,141,912,508 (ong) tng ng tang 35.12% nguyen nhan chu

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THIT KE MON HC PHAN TCH HOAT ONG KINH T

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N phai tra cuoi nam so vi au nam tang 127,646,355,993