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STT

(1)
I
1
2
3
4
II
1
2
STT
(1)
1
2
3

STT
(1)
1
1.1
1.2
2
3
4
5
6
7
8
9

BT1-09
BI TP 1
Bng 1: Nhu cu vn v ngun vn
VT: Triu ng
Khon mc
Tin
Ghi ch
(2)
(3)
(4)
Nhu cu vn
7,800.00 u t nm 0
t ai
2,000.00
Nh xng
3,000.00
My mc thit b
2,800.00
Ti sn c nh khc
Ngun vn
7,800.00
Vn ch s hu
5,460.00
70%
Vn vay
2,340.00
30%
Bng 2: Sn lng v gi bn
Khon mc
Nm 1
Nm 2
(2)
(3)
(4)
Sn lng (VSP)
2,100.00
2,400.00
Gi bn (Triu ng/VSP)
4.00
4.00
nh ph
1,951.20
1,845.90

Nm 3
(5)
2,700.00
4.00
1,740.60

Bng 3: Cc thng s ca d n
VT: %
Khon mc
T l (%)
Ghi ch
(2)
(3)
(4)
T l khu hao
Nh xng
20
My mc thit b
15
Li sut
12
S k tr n gc u (nm)
4
T l chi ph hot ng
60 Doanh thu
T l chi ph mua hng
65 Chi ph hot ng
T l khon phi thu
12 Doanh thu
T l khan phi tr
15 Chi ph mua hng
T l tn qu tin mt
10 Chi ph mua hng
Thu sut thu thu nhp doanh nghip
25
Ghi ch: D n thanh l nm th 5.
Yu cu:
1. Lp bng khu hao
2. K hoch tr n gc v li
3. Lp bng hch tan l li
4. Tnh cc khon phi thu
5. Tnh cc khon phi tr
6. Tnh nhu cu tin mt
7. Tnh ngn lu ca d n theo quan im tng vn u t
8. Tnh ngn lu ca d n theo quan im tng vn ch s hu
9. Tnh im ha vn hng nm ca d n.
10. Tnh thi gian hon vn c chit khu, NPV v BCR theo quan im tng vn u t
Cho bit li sut chit khu ca d n r =
12%
11 Tnh IRR theo quan im tng vn u t:
Cho bit r1 (%) =
27

r2 (%)BT1-09
=

30

Gii
Bng 1: K hoch khu hao
STT
(1)
I
1
2
3
4
II
1
2
3
4
III
1
2
3
4

KHON MC
(2)
Nh xng
Nguyn gi
Khu hao
Khu hao ly k
Gi tr cn li
My mc thit b
Nguyn gi
Khu hao
Khu hao ly k
Gi tr cn li
Tng ti sn c nh (tnh KH)
Nguyn gi
Khu hao
Khu hao ly k
Gi tr cn li

VT: Triu ng
Nm 0
Nm 1
(3)
(4)

Nm 2
(5)

3,000.00
600.00
600.00
2,400.00

600.00
1,200.00
1,800.00

420.00
420.00
2,380.00

420.00
840.00
1,960.00

1,020.00
1,020.00
4,780.00

1,020.00
2,040.00
3,760.00

VT: Triu ng
Nm 0
Nm 1
(3)
(4)
2,340.00
865.80
280.80
585.00
2,340.00
1,755.00

Nm 2
(5)
1,755.00
795.60
210.60
585.00
1,170.00

VT: Triu ng
Nm 1
Nm 2
(3)
(4)
8,400.00
9,600.00
2,100.00
2,400.00
4.00
4.00
5,040.00
5,760.00
1,020.00
1,020.00

Nm 3
(5)
10,800.00
2,700.00
4.00
6,480.00
1,020.00

2,800.00

5,800.00

Bng 2: K hoch tr n gc v li vay


STT
(1)
1
2
2.1
2.2
3

KHON MC
(2)
D n u k
Tr n gc v li
Li pht sinh trong k
N gc n hn phi tr
D n cui k
Bng 3: Hch tan li l ca d n

STT
(1)
1
1.1
1.2
2
3
4
5

KHON MC
(2)
Doanh thu
Sn lng (VSP)
Gi bn (Triu ng/VSP)
Chi ph hot ng
Khu hao TSC
Li nhun trc thu v
li vay phi tr (EBIT)
Li vay

2,340.00
280.80

2,820.00
210.60

3,300.00
140.40

6
7
8
9

Li nhun trc thu (EBT)


Thu thu nhp doanh nghip
Li nhun sau thu
Thu nhp rng
Thu nhp rng nm cui cng l:

BT1-09

2,059.20
514.80
1,544.40
2,564.40

2,609.40
652.35
1,957.05
2,977.05

3,159.60
789.90
2,369.70
3,389.70

VT: Triu ng
Nm 1
Nm 2
(3)
(4)
8,400.00
9,600.00
-1,008.00
-1,152.00
-1,008.00
-144.00
7,392.00
9,456.00

Nm 3
(5)
10,800.00
-1,296.00
-144.00
10,656.00

Bng 4: Tnh cc khon phi thu (bn hng)


STT
KHON MC
(1)
(2)
1 Doanh thu
2 Khon phi thu (Tr)
3 Chnh lch khon phi thu (Tr)
Ngn lu vo

Bng 5: Tnh cc khon phi tr (mua hng)


STT
KHON MC
(1)
(2)
1 Chi mua hng
2 Khon phi tr (Tr)
3 Chnh lch khon phi tr (Tr)
Ngn lu ra

VT: Triu ng
Nm 1
Nm 2
(3)
(4)
3,276.00
3,744.00
-491.40
-561.60
-491.40
-70.20
2,784.60
3,673.80

Nm 3
(5)
4,212.00
-631.80
-70.20
4,141.80

VT: Triu ng
Nm 1
Nm 2
(3)
(4)
327.60
374.40
327.60
46.80
-327.60
-46.80

Nm 3
(5)
421.20
46.80
-46.80

Bng 6: Nhu cu tn qu tin mt


STT
KHON MC
(1)
(2)
1 Nhu cu tn qu tin mt
2 Chnh lch tn qu tin mt
3 Tc ng n ngn lu

Bng 7: K hoch ngn lu theo quan im tng vn u t


VT: Triu ng
STT
KHON MC
Nm 0
Nm 1
(1)
(2)
(3)
(4)
I KHON THU
1 Doanh thu
8,400.00
2 Chnh lch khon phi thu
-1,008.00
3 Thanh l t
4 Thanh l my mc thit b
5 Tng ngn lu vo (CF)
7,392.00
II KHON CHI
1 u t vo t
2,000.00
2 u t nh xng
3,000.00
3 u t my mc thit b
2,800.00

Nm 2
(5)
9,600.00
-144.00

9,456.00

4
5
6
7
8
III

STT
(1)
1
1.1
1.2
2
3
4
7
8
9

Chi ph hot ng
Chnh lch khon phi tr
Chnh lch tn qu tin mt
Thu thu nhp doanh nghip
Tng ngn lu ra (AEPV)
CF-TIP

BT1-09

7,800.00
-7,800.00

5,040.00
-491.40
327.60
514.80
5,391.00
2,001.00

5,760.00
-70.20
46.80
652.35
6,388.95
3,067.05

Bng 8: Hch ton l li theo quan im tng vn ca s hu


VT: Triu ng
KHON MC
Nm 1
Nm 2
Nm 3
(2)
(3)
(4)
(5)
Doanh thu
8,400.00
9,600.00 10,800.00
Sn lng (VSP)
2,100.00
2,400.00
2,700.00
Gi bn (Triu ng/VSP)
4.00
4.00
4.00
Chi ph hot ng
5,040.00
5,760.00
6,480.00
Khu hao TSC
1,020.00
1,020.00
1,020.00
Li nhun trc thu (EBT)
2,340.00
2,820.00
3,300.00
Thu thu nhp doanh nghip
585.00
705.00
825.00
Li nhun sau thu
1,755.00
2,115.00
2,475.00
Thu nhp rng
2,775.00
3,135.00
3,495.00
Ghi ch:
Thu nhp rng nm cui =
7,575.00

Bng 9: K hoch ngn lu theo quan im tng vn ch s hu


VT: Triu ng
STT
KHON MC
Nm 0
Nm 1
Nm 2
(1)
(2)
(3)
(4)
(5)
I KHON THU
1 Doanh thu
8,400.00
9,600.00
2 Chnh lch khon phi thu (Tr)
-1,008.00
-144.00
3 Thanh l t
4 Thanh l my mc thit b
5 Tng ngn lu vo (CF)
7,392.00
9,456.00
II KHON CHI
1 u t vo t
2,000.00
2 u t nh xng
3,000.00
3 u t my mc thit b
2,800.00
4 Chi ph hot ng
5,040.00
5,760.00
5 Chnh lch khon phi tr (tr)
-491.40
-70.20
6 Chnh lch tn qu tin mt
327.60
46.80
7 Thu thu nhp doanh nghip*1
585.00
705.00
8 Tng ngn lu ra (AEPV)
7,800.00
5,461.20
6,441.60
III CF-AEPV
-7,800.00
1,930.80
3,014.40
Bng 10: Tng chi ph, nh ph, bin ph
STT
(1)

Ch tiu
(2)

Nm 1
(3)

VT: Triu ng
Nm 2
Nm 3
(4)
(5)

1
1.1
1.2.
2
3
4
5
6
7
8

Tng chi ph
nh ph (FC)
Bin ph (VC)
Doanh thu
Doanh thu - Bin ph
Khu hao (KH)
N gc di hn (Ng)
Thu thu nhp DN (Ttn)
nh ph - Khu hao
nh ph - Khu hao + Ng + Ttn

BT1-09

6,340.80
1,951.20
4,389.60
8400.00
4,010.40
1,020.00
585.00
514.80
931.20
2,031.00

6,990.60
1,845.90
5,144.70
9600.00
4,455.30
1,020.00
585.00
652.35
825.90
2,063.25

7,640.40
1,740.60
5,899.80
10800.00
4,900.20
1,020.00
585.00
789.90
720.60
2,095.50

Nm 1
(3)
0.487
0.232
0.506

Nm 2
(4)
0.414
0.185
0.463

Nm 3
(5)
0.355
0.147
0.428

Bng 11: im ha vn
STT
Ch tiu
(1)
(2)
1 HVlt = FC/(D-VC)
2 HVlt = (FC-KH)/(D-VC)
3 HVlt = (FC-KH+Ng+Ttn)/(D-VC)

Bng 12: Thi gian hon vn c chit khu, NPV v BCR


STT
(1)
0
1
2
3
4
5
Tng

Vn u t
(2)

TNR (Bi)
(3)
7,800.000

7,800.000

2,564.400
2,977.050
3,389.700
3,802.350
3,720.000
16,453.500

NPV =
BCR =
Thi gian hon vn c chit khu =
Thi gian hon vn c chit khu =

1/(1+r)i
(4)
1.000
0.893
0.797
0.712
0.636
0.567

PV
(5)
2,289.643
2,373.286
2,412.722
2,416.462
2,110.828
11,602.940

3,802.940
1.488
3 nm
3.60
3 nm
3 thng

Bng 13: Tnh IRR


STT
(1)
0
1
2
3
4
5

Vn u t
(2)

TNR
(3)
7,800.000
2,564.400
2,977.050
3,389.700
3,802.350
3,720.000

1/(1+r1)i
(4)
1.000
0.787
0.620
0.488
0.384
0.303

PV1
(5)
2,019.213
1,845.775
1,654.817
1,461.629
1,125.964

Tng

BT1-0916,453.500
7,800.000

r1 (%) =
r2 (%) =
NPV1 =
NPV2 =
IRR (%) =

27
30
307.398
-189.727
28.855

8,107.398

BT1-09

Nm 4
(6)
3,000.00
4.00
1,635.30

im tng vn u t

BT1-09

Nm 3
(6)

Nm 4
(7)

Nm 5
(8)

600.00
1,800.00
1,200.00

600.00
2,400.00
600.00

0.00
2,400.00
600.00

420.00
1,260.00
1,540.00

420.00
1,680.00
1,120.00

0.00
1,680.00
1,120.00

1,020.00
3,060.00
2,740.00

1,020.00
4,080.00
1,720.00

0.00
4,080.00
1,720.00

Nm 3
(6)
1,170.00
725.40
140.40
585.00
585.00

Nm 4
(7)
585.00
655.20
70.20
585.00
0.00

Nm 4
(6)
12,000.00
3,000.00
4.00
7,200.00
1,020.00
3,780.00
70.20

BT1-09

3,709.80
927.45
2,782.35
3,802.35
3,720.00

Nm 4
(6)
12,000.00
-1,440.00
-144.00
11,856.00

Nm 5
(7)

Nm 4
(6)
4,680.00
-702.00
-70.20
4,609.80

Nm 5
(7)

Nm 4
(6)
468.00
46.80
-46.80

Nm 5
(7)

Nm 3
(6)

Nm 4
(7)

0.00
0.00
1,440.00
1,440.00

0.00
0.00
702.00
702.00

0.00
-468.00
468.00

10,800.00
-144.00

12,000.00
-144.00

10,656.00

11,856.00

Nm 5
(8)
0.00
1,440.00
2,000.00
1,720.00
5,160.00

6,480.00
-70.20
46.80
789.90
7,246.50
3,409.50

7,200.00
-70.20
46.80
927.45
8,104.05
3,751.95

BT1-09
0.00
702.00
-468.00
0.00
234.00
4,926.00

Nm 4
(6)
12,000.00
3,000.00
4.00
7,200.00
1,020.00
3,780.00
945.00
2,835.00
3,855.00

Nm 3
(6)

Nm 4
(7)

10,800.00
-144.00

12,000.00
-144.00

10,656.00

11,856.00

6,480.00
-70.20
46.80
825.00
7,281.60
3,374.40

7,200.00
-70.20
46.80
945.00
8,121.60
3,734.40

Nm 4
(6)

Nm 5
(8)
0.00
1,440.00
2,000.00
1,720.00
5,160.00

0.00
702.00
-468.00
0.00 Tnh theo EBIT
234.00
4,926.00

BT1-09

8,290.20
1,635.30
6,654.90
12000.00
5,345.10
1,020.00
585.00
927.45
615.30
2,127.75

Nm 4
(6)
0.306
0.115
0.398

VT: Triu ng
LK PV
TPC - LK PV
(6)
(7)
2,289.643
4,662.929
7,075.650
9,492.113
11,602.940

5,510.357
3,137.071
724.350
-1,692.113

thng
18 ngy

VT: Triu ng
1/(1+r2)i
PV2
(6)
(7)
1.000
0.769
1,972.615
0.592
1,761.568
0.455
1,542.877
0.350
1,331.308
0.269
1,001.904

7,610.273

BT1-09

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