moliyaviy menejment

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slayd 1 10 – mavzu: moliyaviy menejment o’qituvchi: phd. ziyodilloyev xushnud email: xushnud.ziyodilloyev@mail.ru tel: +998-99-931-74-42 korxona investitsion faoliyat moliyaviy ko'rsatkichlari korxona investitsion faoliyat samaradorligini oshirish masalalari 2 / *** korxonalarda investitsion faoliyatni boshqarish reja: investitsion samaradorlik turlari investitsiyalarning – moliyaviy (tijorat), byudjet va iqtisodiy samaradorligi mavjud iqtisodiy baholash koeffitsientilari sof keltirilgan qiymat (net present value, npv), investitsiya rentabelligi indeksi (profitability index, pi), foydaning ichki me’yori (internal rate of return, irr), investitsiya diskontlangan qoplash muddati (discounted payback period, dpp) investitsion samaradorlik investitsiya loyihalarining tijorat samaradorligini aniqlash har xil davrlarda real pullarning oqimi va real pullarining saldosidan tashkil topadi. bunday holatda investorning 3 holati ko’rib chiqiladi va hisobga olinadi. - investitsion - operatsion - moliyaviy ko'rsatkichlar o'zbek tilida rus tilida ingliz tilida belgisi sof joriy qiymat chistaya tekushaya stoimost net present value npv rentabellik indeksi indeks rentabelnosti profitability index pi foydaning ichki me'yori vnutrennyaya norma pribili internal rate of return irr modifikatsiya …
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romadlar va investitsiyalar daromadlar oqimi ko'rinishida taqdim etilsa, npv ushbu oqimning bazasi yoki joriy qiymatiga teng bo'ladi. sof joriy qiymatni hisoblash - npv sof joriy qiymatni hisoblash usuli boshlang'ich (sof) investitsiya qiymatini taqqoslashga asoslangan ( ci ) prognoz qilingan davrda hosil bo'lgan diskontlangan sof naqd pul tushumlarining umumiy summasi naqd pul tushumlari vaqt o'tishi bilan taqsimlanganligi sababli ular diskontlash stavkasidan foydalangan holda diskontlanadi r, investor tomonidan qo'yilgan kapitalning yillik daromadiga qarab mustaqil ravishda investor tomonidan belgilanadi. investitsion faoliyatning sof joriy qiymati yillar (t) 0 1 2 3 4 5 foyda pul oqimlari -100000 30000 -50000 70000 60000 50000 60000 pv (r=0%) -100000 30000 -50000 70000 60000 50000 60000 pv (r=5%) -100000 28571 -45351 60469 49362 39176 32227 pv (r=10%) -100000 27273 -41322 52592 40981 31046 10569 pv (r=12,95%) -100000 26560 -39190 48575 36861 27195 0 pv (r=15%) -100000 26087 -37807 46026 34305 24859 -6530 pv (r=20%) -100000 25000 -34722 40509 …
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ow present value 0 ($500,000) ($500,000) 1 $200,000 1.10 $181,818.18 2 $300,000 1.21 $247,933.88 3 $200,000 1.33 $150,262.96 npv $80,015 npv ijobiy bo’lsa - agar investitsiya loyihasining npv ijobiy bo'lsa (chegirma stavkasi hisobga olinsa), u holda loyiha samarali hisoblanadi va uni amalga oshirish masalasi ko'rib chiqilishi mumkin; bundan tashqari, npv qiymati qanchalik yuqori bo'lsa, loyiha shunchalik foydali bo'ladi investitsion faoliyatning npv va r diskont stavkasining o'zaro bog'liqlik grafigi npv 0 5 10 12.950000000000003 15 20 60000 32227 10569 0 -6530 -20184 pi>1 → loyihani qabul qilish mumkin pi 1 → loyihani qabul qilish mumkin pi r → loyihani qabul qilish mumkin irr<r→ loyihani qabul qilib bo'lmaydi irr=r→ kompaniyaga loyihani qabul qilish va qilmaslikning farqi yo'q investitsion faoliyatda foydaning ichki me'yori yillar (t) 0 1 2 3 4 5 foyda pul oqimlari -100000 30000 -50000 70000 60000 50000 60000 pvf (r=irr, irr=12,95%) 1 0,8853 0,7838 0,6939 0,6144 0,5439 pul oqimlari joriy …
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image6.wmf oleobject1.bin oleobject2.bin oleobject3.bin image7.png image1.png image8.png image9.wmf oleobject4.bin image10.wmf oleobject5.bin image11.wmf oleobject6.bin image12.wmf image13.wmf image14.wmf oleobject7.bin oleobject8.bin oleobject9.bin image15.wmf image16.wmf image17.wmf image18.wmf image19.wmf image20.wmf oleobject14.bin oleobject15.bin oleobject10.bin oleobject11.bin oleobject12.bin oleobject13.bin image21.wmf oleobject16.bin image22.wmf oleobject17.bin image23.png image24.png image25.png 0 1 0 1 ) 1 ( i pvcf i r cf npv n t n n t t t - = - + = å å = = t r pvf ) 1 ( 1 + = 10569 100000 ) 1 , 0 1 ( 50000 ) 1 , 0 1 ( 60000 ) 1 , 0 1 ( 70000 ) 1 , 0 1 ( 50000 ) 1 , 0 1 ( 30000 5 4 3 2 = - + + + + + + + - + = npv nv, (i+r)" npv = o_o 4, or ltr’ (trp gtr) io + — cy = initial investment c = cash …
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slayd 1 10 – mavzu: moliyaviy menejment o’qituvchi: phd. ziyodilloyev xushnud email: xushnud.ziyodilloyev@mail.ru tel: +998-99-931-74-42 korxona investitsion faoliyat moliyaviy ko'rsatkichlari korxona investitsion faoliyat samaradorligini oshirish masalalari 2 / *** korxonalarda investitsion faoliyatni boshqarish reja: investitsion samaradorlik turlari investitsiyalarning – moliyaviy (tijorat), byudjet va iqtisodiy samaradorligi mavjud iqtisodiy baholash koeffitsientilari sof keltirilgan qiymat (net present value, npv), investitsiya rentabelligi indeksi (profitability index, pi), foydaning ichki me’yori (internal rate of return, irr), investitsiya diskontlangan qoplash muddati (discounted payback period, dpp) investitsion samaradorlik investitsiya loyihalarining tijorat samaradorligini ani...

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