工程经济学案例分析.ppt

单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,五、财务评价案例分析,新建一个化肥厂，预计从此项目建设开始寿命期为,15,年。项目建设期为,3,年，第,4,年投产，第,5,年开始达到设计生产能力。,1,固定投资（固定资产投资）,8 000,万元，其中自有资金投资为,4 000,万元。,年份,项目,0,1,2,合计,固定投资,2 500,3 500,2 000,8 000,其中：自有资金投资,1 500,1 500,1 000,4 000,投资估算表,单位：万元,财务数据估算,i,借,=10%,，建设期间只记息不还款，第,4,年投产后开始还贷，每年付清利息并分,10,年等额偿还建设期利息资本化后的全部借款本金。,2,财务数据估算,流动资金投资约需,2 490,万元，全部用银行贷款，年利率,10%,。,销售收入、销售税金及附加和经营成本通过市场分析和专家调查得到估算值。,年份,项目,4,5,6,15,销售收入,5 600,8 000,8 000,8 000,销售税金及附加,320,480,480,480,经营成本,3 500,5 000,5 000,5 000,经营数据估算表,单位：万元,3,基础财务报表,年份,项目,0,1,2,3,合计,固定投资总额,2 500,3 500,2 000,8 000,流动资金,2 490,2 490,自有资金,1 500,1 500,1 000,4 000,借款需要量,1 000,2 000,1 000,2 490,6 490,借款需要量计算表,单位：万元,4,年份,内容,1,2,3,4,附注,年初欠款,0,1 050,3 255,4 630.5,建设期利息约为,630,当年借款,1 000,2 000,1 000,当年利息,50,205,375.5,年末欠款累计,1 050,3 255,4 630.5,建设期利息计算表,单位：万元,基础财务报表,5,年份,内容,4,5,6,7,8,9,10,11,12,13,年初欠款,4630,4167,3704,3241,2778,2315,1852,1389,926,463,当年利息支付,463,417,370,324,278,232,185,139,93,46,当年还本,463,463,463,463,463,463,463,463,463,463,年末欠款,4167,3704,3241,2778,2315,1852,1389,926,463,0,固定资产投资还贷计划与利息计算表,单位：万元,基础财务报表,6,基础财务报表,7,主要财务报表,年份,内容,4,5,6,7,8,9,10,11,12,13,14,15,销售收入,5600,8000,8000,8000,8000,8000,8000,8000,8000,8000,8000,8000,经营成本,3500,5000,5000,5000,5000,5000,5000,5000,5000,5000,5000,5000,折旧,547,547,547,547,547,547,547,547,547,547,547,547,建投借款利息,463,417,370,324,278,232,185,139,93,46,0,0,流资借款利息,249,249,249,249,249,249,249,249,249,249,249,249,销售税金附加,320,480,480,480,480,480,480,480,480,480,480,480,利润总额,521,1307,1354,1400,1446,1492,1539,1585,1631,1678,1724,1724,所得税,172,431,447,462,477,492,508,523,538,554,569,569,税后利润,349,876,907,938,969,1000,1031,1062,1093,1124,1155,1155,盈余公积金,35,88,91,94,97,100,103,106,109,112,116,116,公益金,18,44,45,47,48,50,52,53,55,56,58,58,应付利润,296,744,771,797,824,850,876,903,929,956,981,981,未分配利润,表一：损益及利润分配表,8,年份,内容,建设期,投产期,达产期,0,1,2,3,4,5,6,7,（一）现金流入,1.,销售收入,5600,8000,8000,8000,2.,回收固定资产,3.,回收流动资金,（二）现金流出,1.,固定投资,2500,3500,2 000,2.,流动资金,2 490,3.,经营成本,3500,5000,5000,5000,4.,销售税金及附加,320,480,480,480,5.,所得税,172,431,447,462,（三）净现金流量,-2500,-3500,-2000,-2490,1608,2089,2073,2058,表二：全部投资现金流量表,9,表二：全部投资现金流量表（续）,年份,内容,达产期,8,9,10,11,12,13,14,15,（一）现金流入,1.,销售收入,8000,8000,8000,8000,8000,8000,8000,8000,2.,回收固定资产,2066,3.,回收流动资金,2490,（二）现金流出,1.,固定投资,2.,流动资金,3.,经营成本,5000,5000,5000,5000,5000,5000,5000,5000,4.,销售税金及附加,480,480,480,480,480,480,480,480,5.,所得税,477,492,508,523,538,554,569,569,（三）净现金流量,2043,2028,2012,1997,1982,1966,1951,6507,10,表三：自有资金投资现金流量表（续）,年份,内容,达产期,8,9,10,11,12,13,14,15,（一）现金流入,1.,销售收入,8000,8000,8000,8000,8000,8000,8000,8000,2.,回收固定资产,3.,回收流动资金,（二）现金流出,1.,固投中的自有资金,2.,流资中的自有资金,3.,经营成本,5000,5000,5000,5000,5000,5000,5000,5000,4.,销售税金及附加,480,480,480,480,480,480,480,480,5.,所得税,477,492,508,523,538,554,569,569,6.,固定投资本金偿还,463,463,463,463,463,463,463,463,7.,固定投资利息支付,278,232,185,139,93,46,0,0,8.,流动资金本金偿还,2490,9.,流动资金利息支付,249,249,249,249,249,249,249,249,（三）净现金流量,1053,1084,1115,1146,1177,1208,1702,3768,11,年份,内容,建设期,生产经营期,0,1,2,3,4,5,6,7,1.,资金来源,2500,3500,2000,2490,1068,1854,1901,1947,1.1,利润总额,521,1307,1354,1400,1.2,折旧与摊销费,547,547,547,547,1.3,长期借款,1000,2000,1000,1.4,短期借款,2490,1.5,自有资金,1500,1500,1000,2.,资金运用,2500,3500,2000,2.1,固定投资,2500,3500,2000,2.3,流动资金,2490,2.4,所得税,172,431,447,462,2.5,应付利润,296,744,771,797,2.6,长期借款本金偿还,463,463,463,463,3.,盈余资金（,1-2,）,0,0,0,0,137,216,220,225,4.,累计盈余资金,0,0,0,0,137,353,573,798,表四：资金来源与运用表,12,表四：资金来源与运用表（续）,年份,内容,生产经营期,8,9,10,11,12,13,14,15,1.,资金来源,1993,2039,2086,2132,2178,2225,2271,6827,1.1,利润总额,1446,1492,1539,1585,1631,1678,1724,1724,1.2,折旧与摊销费,547,547,547,547,547,547,547,547,1.6,回收固定资产余值,2066,1.7,回收流动资金,2490,2.,资金运用,1764,1805,1847,1889,1930,1973,1550,4040,2.1,固定投资,2.3,流动资金,2.4,所得税,477,492,508,523,538,554,569,569,2.5,应付利润,824,850,876,903,929,956,981,981,2.6,长期借款本金偿还,463,463,463,463,463,463,0,0,2.7,短期借款本金偿还,2490,3.,盈余资金（,1-2,）,229,234,239,243,248,252,721,2787,4.,累计盈余资金,1027,1261,1500,1743,1991,2243,2964,5751,13,年份,内容,建设期,生产经营期,1,2,3,4,5,6,7,1.,资产,2550,6255,11120,10710,10379,10052,9730,1.1,流动资产总额,2490,2627,2843,3063,3288,1.1.1,流动资产,2490,2490,2490,2490,2490,1.1.2,累计盈余资金,137,353,572,798,1.2,在建工程,2550,6255,8630,1.3,固定资产净值,8083,7536,6989,6442,2,负债与所有者权益,2550,6255,11120,10610,10379,10052,9730,2.1,流动负债总额,2490,2490,2490,2490,2490,2.1.1,短期借款,2490,2490,2490,2490,2490,2.2,长期负债,1050,3255,4630,4167,3704,3241,2778,负债小计,1050,3255,7120,6657,6194,5731,5268,2.3,所有者权益,1500,3000,4000,4053,4185,4321,4463,2.3.1,资本金,1500,3000,4000,4000,4000,4000,4000,2.3.2,累计盈余公积金,0,0,0,35,123,214,308,2.3.3,累计公益金,0,0,0,18,62,107,154,表五：资产负债表,14,表五：资产负债表（续）,年份,内容,生产经营期,8,9,10,11,12,13,14,15,1.,资产,9412,9099,8791,8487,8188,7893,8067,8241,1.1,流动资产总额,3517,3751,3990,4233,4481,4733,5454,6175,1.1.1,流动资产,2490,2490,2490,2490,2490,2490,2490,2490,1.1.2,累计盈余资金,1027,1261,1500,1743,1991,2243,2964,3685,1.2,在建工程,1.3,固定资产净值,5895,5348,4801,4254,3707,3160,2613,2066,2,负债与所有者权益,9412,9099,8791,8487,8188,7893,8067,8241,2.1,流动负债总额,2490,2490,2490,2490,2490,2490,2490,2490,2.1.1,短期借款,2490,2490,2490,2490,2490,2490,2490,2490,2.2,长期负债,2315,1852,1389,926,463,0,0,0,负债小计,4805,4342,3879,3416,2953,2490,2490,2490,2.3,所有者权益,4607,4757,4912,5017,5235,5403,5577,5751,2.3.1,资本金,4000,4000,4000,4000,4000,4000,4000,4000,2.3.2,累计盈余公积金,405,505,608,714,823,935,1051,1167,2.3.3,累计公益金,202,252,304,357,412,468,526,584,15,分析与说明,1.,盈利能力分析,2.,资金平衡及偿债能力分析,3.,综合评价,16,