房地产开发课程设计.pptx

Course Design for Real Estate Development&Operation,#,Course Design for Real Estate Development&Operation,#,房地产开发,课程设计,Course Design for Real Estate Development&Operation,2,房地产开发课程设计内容,房地产开发与经营课程设计选题,：,1,、编制房地产开发项目可行性研究,。,2,、见课程设计任务书,Course Design for Real Estate Development&Operation,3,房地产开发项目可行性研究报告基本内容,封面（,项目名称、委托单位、编制单位、,时间等,）,摘要（,项目情况、特点、研究基本内容、,主要结论与建议,）,目录,正文,附表,附图,Course Design for Real Estate Development&Operation,4,房地产开发项目可行性研究报告内容,一 总论,二 项目开发市场环境分析,三 项目建设方案,四,项目定位,五,总体开发经营模式,六 项目环境影响评价,七 项目建设指标及实施进度,八 项目投资估算与资金安排,九 项目融资方案,十 项目财务评价,十一 项目风险分析,十二 研究结论与建议,Course Design for Real Estate Development&Operation,5,（一）项目背景,1,、项目名称,2,、项目承办单位概况,3,、项目提出的理由与目的,4,、项目开发的前提,（二）项目概况,1,、项目区位,2,、项目现状与土地等级,3,、项目开发规模与目标,4,、项目主要建设条件,5,、项目主要技术经济指标,一 总论,Course Design for Real Estate Development&Operation,6,（三）项目可行性研究报告编制依据,1,、国家发改委、建设部,建设项目经济评价方法与参数,(,第三版,)(2006,年,),；,2,、建设部,房地产开发项目经济评价方法,(,建标,2000205,号,),；,3,、国家发展计划委员会,投资项目可行性研究指南,(,计办投资,200215,号,),；,（四）项目可行性研究报告研究范围,（五）项目可行性研究主要结论、问题与建议,一 总论,Course Design for Real Estate Development&Operation,7,（一）项目开发经营政策层面分析,1,、土地供给政策调整,2,、房地产金融政策调整,3,、物业管理政策,4,、房地产业政策调整,（二）项目开发经营的宏观经济与社会发展环境分析,（三）项目开发经营的城市经济与社会发展环境分析,二 项目开发市场环境分析,Course Design for Real Estate Development&Operation,8,（四）,武汉市房地产市场分析,（五）项目供需圈区域房地产市场分析,（六）项目开发经营机会,房地产开发经营机会,是市场与环境诸条件综合作用的结果，是这些条件与企业优势的结合，是区域市场个性、开发企业个性与项目地块个性的结合,。,对项目（公司）的优势、劣势、机会和问题的全面评估称为,SWOT,分析,二 项目开发市场环境分析,Course Design for Real Estate Development&Operation,9,SWOT,分析模型,二 项目开发市场环境分析,Course Design for Real Estate Development&Operation,10,（一）项目规划设计方案选择的总体原则,（二）项目规划设计方案选择,1,、空间组织和建筑布局,5,、环境设计,2,、建筑风格特点,6,、消防设计,3,、交通组织,7,、管理系统,4,、公共设施,8,、住宅户型平面,三,项目建设方案,Course Design for Real Estate Development&Operation,11,（三）项目规划设计方案的技术经济指标,序号,项,目,单位,数量,一,规划用地面积,M,2,二,总建筑面积,M,2,其中：,1,多层、小高层、高层住宅,M,2,2,别墅、联排别墅、复式洋房,M,2,3,公建面积,M,2,三,道路及停车场,四,建筑密度,五,容积率,六,绿化率,三,项目建设方案,Course Design for Real Estate Development&Operation,12,（一）项目目标顾客群定位,职业、收入、学历等,。,（二）项目产品定位,物业类型及档次,。,（三）项目价格定位,销售价格的确定,。,四,项目定位,Course Design for Real Estate Development&Operation,13,主要定价方法有两种：,1,、成本法,计算公式：,价格单位成本,（,1,加成率）,加成率一般在,15%20%,之间。,四,项目定位,Course Design for Real Estate Development&Operation,14,主要定价方法有两种：,2,、市场比较法,根据市场上已有项目的销售价格确定本项目的销售价格。即对每一可比项目的,价格、得分（评分）,结果来计算开发项目的销售价格。,评分依据（因素）,：,位置、环境、价格、规划、建筑、规模、物业管理、交通等,。,四,项目定位,Course Design for Real Estate Development&Operation,15,项目名称,得分,A,销售价格,B,可比价格,D,权重,w,可,比,项,目,项目,1,A1,B1,D1,w1,项目,2,A2,B2,D2,w2,项目,3,A3,B3,D3,w3,项目,4,A4,B4,D4,w4,本 项 目,C,D,？,四,项目定位,Course Design for Real Estate Development&Operation,16,项目名称,得分,A,销售价格,B,可比价格,D,权重,w,可,比,项,目,项目,1,89,3200,3452,0.2,项目,2,92,3600,3756,0.4,项目,3,93,3650,3768,0.3,项目,4,90,3400,3627,0.1,本 项 目,96,D,？,D=34520.2,37560.4,37680.3,36270.1,3686,Example,四,项目定位,Course Design for Real Estate Development&Operation,17,（一）差异化模式,（二）分期滚动开发模式,（三）充分整合周边资源，发挥最大市场价值模式,五,总体开发经营模式,Course Design for Real Estate Development&Operation,18,（一）项目实施过程中的环境影响及对策,1,、工程建设对环境的影响,2,、建设中环境影响的缓解措施,（二）项目完成后的环境影响及对策,六 项目环境影响评价,Course Design for Real Estate Development&Operation,19,（一）项目建设指标,见第三部分规划目标（技术指标）,（二）建设周期,项目建设的,起止,时间,（三）项目实施进度安排,主要,里程碑,事件时间，如开工、开盘、封顶、交房等时间。,（四）项目实施进度表,用横道图表示项目实施进度。,七 项目建设指标及实施进度,Course Design for Real Estate Development&Operation,20,项目,2004,2005,2006,2007,2008,3,4,1,2,3,4,1,2,3,4,1,2,3,4,1,2,3,4,前期,一期,二期,三期,项目实施进度表,七 项目建设指标及实施进度,Course Design for Real Estate Development&Operation,21,（一）建设投资估算,1,、投资估算范围,如建筑工程、室外工程,2,、投资估算编制依据,1,）国家、湖北省、武汉市相关的政策法规和基本建设收费标准；,2,）,全国统一建筑、市政、安装工程预算定额湖北省统一基价表,及类似工程经济指标；,3,）,湖北省建筑安装工程费用定额,；,4,）有关合同、协议书等；,5,）其他。,八 项目投资估算与资金安排,Course Design for Real Estate Development&Operation,22,序号,项 目,投资额,占项目投入总资金的比例（,%,）,估算,说明,合计,其中：外汇,1,建设投资,1.1,建设投资静态部分,1.1.1,土地费用,1.1.2,前期工程费,1.1.3,基础设施建设费,1.1.4,建筑安装工程费,1.1.5,公共配套设施建设费,1.1.6,工程建设其他费,1.1.7,基本预备费,1.2,建设投资动态部分,1.2.1,涨价预备费,1.2.2,建设期利息,2,流动资金,3,项目投资总计（,1+2,）,表,项目投资估算汇总表,Course Design for Real Estate Development&Operation,23,3,、投资估算说明,1,）建筑工程费估算,表 建筑安装工程费估算表,序号,建、构筑物名称,单位,工程量,单价,费用合计,（万元）,指标,单位,1,写字楼,M,2,70000,1450,元,/M,2,10150.00,2,住宅楼,M,2,60000,1200,元,/M,2,7200.00,3,商务中心,M,2,100000,1450,元,/M,2,14500.00,4,地下建筑,M,2,70000,1700,元,/M,2,11900.00,合 计,43750.00,八 项目投资估算与资金安排,Course Design for Real Estate Development&Operation,24,3,、投资估算说明,2,）室外工程建设费估算,P42,表,2,2,室外工程主要包括地下管线、道路、绿化等工程,表 室外工程建设费估算表,序号,建、构筑,物名称,单位,工程量,单价,费用合计（万元）,备注,指标,单位,1,道路,M,2,5400,400,元,/M,3,216,水泥路面,2,围墙,M,2,300,200,元,/M,3,6,砖墙和栏杆,3,地下综合管线,M,2,1000,800,元,/M,2,80,水、电、气,4,绿化及小品,M,2,18900,50,元,/M,2,94.50,乔、灌、草,5,环境景观,处,2,200,万元,/,处,400,小区主题园,合计,796.50,八 项目投资估算与资金安排,Course Design for Real Estate Development&Operation,25,3,、投资估算说明,3,）工程建设其他费用估算,工程建设其他费用按各项费用科目的费率或者取费标准估算,表 工程建设其他费用估算表,Next Page,八 项目投资估算与资金安排,Course Design for Real Estate Development&Operation,26,序号,费用名称,计算依据,费率或标准,总价,1,土地使用费,土地使用权出让合同,150.59,万元,/,亩,7700.00,2,工程设计费,勘察设计取费标准,建安工程费用的,2%,，综合调整系数取,1,910.31,3,工程勘察费,勘察设计取费标准,综合估算，设计费的,15%,136.55,4,前期工作费,省及当地概算取费标准,工程费用的,0.8%,428.73,5,工程建设监理费,工程监理收费办法,工程费用的,1%,535.92,6,质量监督费,省及当地概算取费标准,工程费用的,0.2%,107.18,7,竣工图编制费,省及当地概算取费标准,工程设计费的,5%,45.52,8,标的编制及招标管理费,省及当地概算取费标准,工程费用的,0.1%,53.59,9,工程保险费,工程费用的,0.2%,107.18,10,施工图预算编制费,工程设计费的,10%,91.03,合计,10651.93,表 工程建设其他费用估算表,Course Design for Real Estate Development&Operation,27,3,、投资估算说明,4,）基本预备费估算,基本预备费以建筑工程费、设备及工器具购置费、安装工程费及工程建设其他费用之和为计算基数，基本预备费费率为,5%,。,详见,项目投资估算汇总表,八 项目投资估算与资金安排,Course Design for Real Estate Development&Operation,28,3,、投资估算说明,5,）建设期利息估算,利息计算对象是债务资金,项目债务资金的各项建设借款均假定在每年的,年中,发生，建设期利息的计算公式为：,各年应计利息,=,（年初借款本息累计,+,本年借款额,/2,）,年利率,建设期利息估算详见,借款偿还计划表,八 项目投资估算与资金安排,Course Design for Real Estate Development&Operation,29,序号,项,目,合,计,计,算,期,第,1,年,第,2,年,第,3,年,第,4,年,1,借款,1.1,年初本息余额,5.50%,4000,6000,1000,1.2,本年借款,9000,4000,5000,0,0,1.3,本年应计利息,852.5,110,357.5,330,55,1.4,本年还本付息,9852.5,110,3357.5,5330,1055,其中：还本,9000,3000,5000,1000,付息,852.5,110,357.5,330,55,1.5,年末本息余额,4000,6000,1000,0,2,还本资金来源,9852.5,110,3357.5,5330,1055,2.1,当年可用于还本的未分配利润,2.2,当年可用于还本的折旧和摊销,2.3,以前年度结余可用于还本资金,2.4,用于还本的短期借款,2.5,可用于还款的其他资金,表 借款偿还计划表,Course Design for Real Estate Development&Operation,30,序号,费 用 名 称,投资额,占项目投入总,资金的比例（,%,）,估算,说明,合计,其中：外汇,1,建设投资,73417.90,100.00%,1.1,建设投资静态部分,70667.90,96.25%,1.1.1,建筑安装工程费,44546.50,60.68%,1.1.2,室外工程费,(,基础设施费,),8076.00,11.00%,1.1.3,工程建设其他费用,10651.93,14.51%,1.1.4,基本预备费,6424.35,8.75%,1.2,建设投资动态部分,2750.00,3.75%,1.2.1,涨价预备费,0.00%,1.2.2,建设期利息,2750.00,3.75%,2,流动资金,0.00%,3,项目投入总资金,73417.90,100.00%,表,项目投资估算汇总表,Course Design for Real Estate Development&Operation,31,（二）项目投入总资金及分年投入计划,反映项目每年资金投入额、占总投资的比重、资金筹措渠道、财务利息等情况。,详见,投资计划与资金筹措表,八 项目投资估算与资金安排,Course Design for Real Estate Development&Operation,32,序号,项,目,合计,计,算,期,2005,2006,2007,2008,2009,2010,1,投资计划,分年计划（,%,）,100%,22.82%,21.46%,19.15%,17.88%,11.21%,7.47%,1.1,建设投资,（不含建设期利息）,138279.72,31557.87,29675.34,26483.47,24728.45,15500.76,10333.84,1.2,建设期利息,3284.08,330.00,825.00,1033.64,1095.44,1.3,流动资金,1.4,项目总投资（,1+2+3,）,141563.80,31887.87,30500.34,27517.11,25823.89,15500.76,10333.84,2,资金筹措,2.1,自有资金,2.1.1,企业自筹资金,48767.75,19557.87,11941.94,8711.25,8556.69,2.1.2,销售收入（预售款）,65511.97,11733.39,11772.22,16171.76,15500.76,10333.84,2.2,借款,27284.08,12330.00,6825.00,7033.64,1095.44,2.2.1,长期借款,其中：银行借款,24000.00,12000.00,6000.00,6000.00,建设期利息,3284.08,330.00,825.00,1033.64,1095.44,2.2.2,流动资金借款,2.2.3,短期借款,资金筹措合计,141563.80,31887.87,30500.34,27517.11,25823.89,15500.76,10333.84,表,投资计划与资金筹措表,Course Design for Real Estate Development&Operation,33,（一）项目融资主体,（二）项目资金来源,1,、项目资本金筹措,2,、项目债务资金筹措,九 项目融资方案,Course Design for Real Estate Development&Operation,34,（三）融资方案分析,1,、资本金来源可靠性分析,2,、融资结构分析,3,、融资成本分析,九 项目融资方案,Course Design for Real Estate Development&Operation,35,（一）财务评价基础数据与参数选择,1,、财务价格,项目财务评价对未来的偿债收入和建设投资进行分析时所采用的价格是预测价格。,2,、利率,项目债务资金的借款利率,3,、项目计算期选取,建设期和销售期,4,、财务基准收益率（,Ic,）设定,根据项目建设标准和同类项目的情况确定财务基准收益率,十 项目财务评价,Course Design for Real Estate Development&Operation,36,（二）营业收入与成本费用估算,1,、销售收入估算,根据销售计划、销售价格计算销售收入。,见,销售计划、收入表,。,销售收入、经营税金与附加估算表,Next Page,十 项目财务评价,Course Design for Real Estate Development&Operation,37,序号,项目,合计,销,售,期,2005,2006,2007,2008,2009,2010,2011,1,一期,销售面积（,M,2,）,50%,50%,189334.28,94667.14,94667.14,单价（元,/M,2,）,2200,2300,销售收入（万元）,42600.21,20826.77,21773.44,2,二期,销售面积（,M,2,）,25%,45%,20%,10%,84000.42,21000.11,37800.19,16800.08,8400.042,单价（元,/M,2,）,3600,4000,4500,4000,销售收入（万元）,33600.17,7560.04,15120.08,7560.04,3360.02,3,三期,销售面积（,M,2,）,20%,45%,35%,298134.82,59626.96,134160.67,104347.19,单价（元,/M,2,）,2400,2450,2500,销售收入（万元）,73266.63,14310.47,32869.36,26086.80,4,四期,销售面积（,M,2,）,20%,50%,30%,84000.42,16800.08,42000.21,25200.13,单价（元,/M,2,）,5000,5400,5600,销售收入（万元）,45192.23,8400.04,22680.11,14112.07,合 计,194659.24,20826.77,29333.48,29430.55,40429.40,37846.86,22680.11,14112.07,表 销售计划、收入表,Course Design for Real Estate Development&Operation,38,序号,项,目,合,计,计,算,期,2005,2006,2007,2008,2009,1,一期,1.1,销售收入,42600.21,20826.77,21773.44,1.2,经营税金及附加,2343.01,1145.47,1197.54,1.2.1,营业税,2130.01,1041.34,1088.67,1.2.2,城市维护建设税,149.10,72.89,76.21,1.2.3,教育费附加,63.90,31.24,32.66,2,二期,2.1,销售收入,33600.17,7560.04,15120.08,7560.04,3360.02,2.2,经营税金及附加,1848.01,415.80,831.60,415.80,184.80,2.2.1,营业税,1680.01,378.00,756.00,378.00,168.00,2.2.2,城市维护建设税,117.60,26.46,52.92,26.46,11.76,2.2.3,教育费附加,50.40,11.34,22.68,11.34,5.04,3,收入合计,76200.38,20826.77,29333.48,15120.08,7560.04,3360.02,4,经营税金及附加,4191.02,1145.47,1613.34,831.60,415.80,184.80,表 销售收入、经营税金与附加估算表,Course Design for Real Estate Development&Operation,39,（二）营业收入与成本费用估算,2,、成本费用估算,见,总成本费用表,Next Page,十 项目财务评价,Course Design for Real Estate Development&Operation,40,序号,项,目,合计,计,算,期,2005,2006,2007,2008,2009,2010,2011,1,制造成本,14794.67,20837.57,20906.52,28719.76,26885.20,16111.23,10024.77,1.1,开发成本,138279.72,14794.67,20837.57,20906.52,28719.76,26885.20,16111.23,10024.77,2,期间费用,14963.63,1579.61,2585.01,2799.47,3521.20,2270.81,1360.81,846.72,2.1,管理费用,1946.59,208.27,293.33,294.31,404.29,378.47,226.80,141.12,2.2,销售费用,9732.96,1041.34,1466.67,1471.53,2021.47,1892.34,1134.01,705.60,2.3,财务费用,3284.08,330.00,825.00,1033.64,1095.44,3,总成本,费用,(,1+2,),153243.35,16374.28,23422.58,23705.99,32240.96,29156.01,17472.04,10871.49,4,经营成本,11679.55,1249.61,1760.01,1765.83,2425.76,2270.81,1360.81,846.72,表 总成本费用表,Course Design for Real Estate Development&Operation,41,序号,项目,2005,2006,2007,2008,2009,合计,1,建设投资,18881.8,20782.92,43568.6,19738.6,28202.8,131174.72,2,销售收入,24611,34516.4,62697.2,29533.6,151358.2,3,销售比例,16.26%,22.80%,41.42%,19.51%,100.00%,4,开发成本,21329.15,29913.67,54336.58,25595.32,131174.72,Example,：开发成本的分摊,Course Design for Real Estate Development&Operation,42,（三）项目利润估算与财务评价表,1,、现金流量表,现金流量表反映项目计算期内各年的现金流入和现金流出，用以计算财务内部收益率,(,FIRR,Financial Internal Rate of Return,),、,财务净现值,(,FNPV,Financial Net Present Value,),及投资回收期,(,P,t,，,Pay Back Period,),等评价指标，分析项目财务盈利能力,。,分为,现金流量表（全部资金）、现金流量表（自有资金）,十 项目财务评价,Course Design for Real Estate Development&Operation,43,（三）项目利润估算与财务评价表,1,）,现金流量表（全部资金）,是从,项目本身,角度出发，不分资金来源，来考察项目盈利能力。该表设定全部投资均为自有资金，用以计算全部投资所得税前和所得税后财务内部收益率,（,FIRR,）、,财务净现值,（,FNPV,）,及投资回收期,（,P,t,）,等评价指标,。,2,）,现金流量表（自有资金）,从,投资者,角度出发，以投资者的出资额作为计算基础，把借款本金偿还和利息支付作为现金流出，用以计算自有资金财务内部收益率、财务净现值等评价指标，考察项目自有资金盈利能力。,十 项目财务评价,Course Design for Real Estate Development&Operation,44,序号,项,目,合,计,计算期,2005,2006,2007,2008,2011,1,现金流入（,CI,）,20826.77,29333.48,29430.55,40429.40,14112.07,1.1,经营收入,194659.24,20826.77,29333.48,29430.55,40429.40,14112.07,2,现金流出（,CO,）,35044.26,34466.88,31222.92,31346.22,2436.15,2.1,建设投资,138279.72,31557.87,29675.34,26483.47,24728.45,2.2,流动资金,2.3,经营成本,11679.55,1249.61,1760.01,1765.83,2425.76,846.72,2.4,经营税金及附加,10706.26,1145.47,1613.34,1618.68,2223.62,776.16,2.5,所得税,10134.18,1091.32,1418.19,1354.94,1968.39,813.26,3,净现金流量（,CI-CO,）,-14217.49,-5133.40,-1792.37,9083.18,11675.92,4,累计净现金流量,-14217.49,-19350.89,-21143.27,-12060.09,23859.53,5,折现净现金流量,-13164.35,-4401.06,-1422.84,6676.41,6812.79,6,累计折现净现金流量,-13164.35,-17565.41,-18988.25,-12311.84,10575.76,所得税前,7,净现金流量,-13126.18,-3715.21,-437.44,11051.57,12489.18,8,累计净现金流量,-13126.18,-16841.38,-17278.82,-6227.25,33993.71,9,折现净现金流量,-12153.87,-3185.19,-347.25,8123.24,7287.32,10,累计折现净现金流量,-12153.87,-15339.06,-15686.31,-7563.07,18107.09,表 现金流量表（全部资金）,Course Design for Real Estate Development&Operation,45,序号,项,目,合,计,计算期,2005,2006,2007,2008,2011,1,现金流入（,CI,）,20826.77,29333.48,29430.55,40429.40,14112.07,1.1,经营收入,194659.24,20826.77,29333.48,29430.55,40429.40,14112.07,2,现金流出（,CO,）,23374.26,31498.45,28132.95,52358.70,2436.15,2.1,资本金,19557.87,23675.34,20483.47,24728.45,2.2,借款本金偿还,24000.00,2206.57,1876.39,19917.04,2.3,借款利息支付,3284.08,330.00,825.00,1033.64,1095.44,2.4,经营成本,11679.55,1249.61,1760.01,1765.83,2425.76,846.72,2.5,经营税金及附加,10706.26,1145.47,1613.34,1618.68,2223.62,776.16,2.6,所得税,1091.32,1418.19,1354.94,1968.39,813.26,3,净现金流量（,CI-CO,）,-2547.49,-2164.97,1297.60,-11929.30,11675.92,4,累计净现金流量,-2547.49,-4712.46,-3414.86,-15344.16,20575.45,5,折现净现金流量,-2358.79,-1856.11,1030.07,-8768.39,6812.79,6,累计折现净现金流量,-2358.79,-4214.90,-3184.82,-11953.22,10934.38,所得税前,7,净现金流量,-1456.18,-746.77,2652.54,-9960.91,12489.18,8,累计净现金流量,-1456.18,-2202.95,449.59,-9511.32,30709.63,9,折现净现金流量,-1348.31,-640.24,2105.67,-7321.57,7287.32,10,累计折现净现金流量,-1348.31,-1988.55,117.12,-7204.45,18465.72,表 现金流量表（自有资金）,Course Design for Real Estate Development&Operation,46,序号,项,目,1,现金流入（,CI,）,1.1,经营收入,2,现金流出（,CO,）,2.1,建设投资,2.2,流动资金,2.3,经营成本,2.4,经营税金及附加,2.5,所得税,3,净现金流量（,CI-CO,）,4,累计净现金流量,5,折现净现金流量,6,累计折现净现金流量,所得税前,7,净现金流量,8,累计净现金流量,9,折现净现金流量,10,累计折现净现金流量,序号,项,目,1,现金流入（,CI,）,1.1,经营收入,2,现金流出（,CO,）,2.1,资本金,2.2,借款本金偿还,2.3,借款利息支付,2.4,经营成本,2.5,经营税金及附加,2.6,所得税,3,净现金流量（,CI-CO,）,4,累计净现金流量,5,折现净现金流量,6,累计折现净现金流量,所得税前,7,净现金流量,8,累计净现金流量,9,折现净现金流量,10,累计折现净现金流量,现金流量表（自有资金）,现金流量表（全部资金）,全部资金：,是从,项目本身,角度出发，,不分资金来源，来考察,项目盈利能力。,自有资金：,从,投资者,角度出发，以,投资者的出资额作为计算,基础，把借款本金偿还和,利息支付作为现金流出。,两表区别,：,Course Design for Real Estate Development&Operation,47,根据现金流量表计,FNPV,、,Pt,、,FIRR,1,、,FNPV,的计算。,2,、,Pt,的计算。,十 项目财务评价,Course Design for Real Estate Development&Operation,48,3,、,FIRR,的计算。,方法,1,：插值法,NPV,1,NPV,2,i,1,i,2,IRR,i,1,-i,2,NPV,1,+|NPV,2,|,IRR-i,1,NPV,1,NPV,i,十 项目财务评价,Course Design for Real Estate Development&Operation,49,3,、,FIRR,的计算。,方法,2,：,Excel,函数法,IRR,（,X:Y,）,十 项目财务评价,Course Design for Real Estate Development&Operation,50,（三）项目利润估算与财务评价表,2,、利润和利润分配表,利润和利润分配表,反映项目计算期内各年利润总额、所得税及税后利润的分配情况，用以计算投资利润率指标。该表根据总成本费用估算表、销售,(,营业,),收入和销售税金及附加估算表填写。,十 项目财务评价,Course Design for Real Estate Development&Operation,51,序号,项,目,合,计,计,算,期,2005,2006,2007,2008,2011,1,经营收入,194659.24,20826.77,29333.48,29430.55,40429.40,14112.07,2,经营税金及附加,10706.26,1145.47,1613.34,1618.68,2223.62,776.16,3,增值税,4,总成本费用,153243.35,16374.28,23422.58,23705.99,32240.96,10871.49,5,利润总额（,1-2-3-4,）,30709.63,3307.02,4297.56,4105.87,5964.82,2464.42,6,弥补以前年度亏损,7,应纳税所得额（,5-6,）,30709.63,3307.02,4297.56,4105.87,5964.82,2464.42,8,所得税,10134.18,1091.32,1418.19,1354.94,1968.39,813.26,9,税后利润（,5-8,）,20575.45,2215.70,2879.37,2750.93,3996.43,1651.16,10,提取法定盈余公积金,2057.55,221.57,287.94,275.09,399.64,165.12,11,提取公益金,1028.77,110.79,143.97,137.55,199.82,82.56,12,提取任意盈余公积金,13,可分配利润（,9-10-11-12,）,17489.13,1883.35,2447.46,2338.29,3396.97,1403.49,14,应付利润（股利分配）,15,未分配利润（,13-14,）,17489.13,1883.35,2447.46,2338.29,3396.97,1403.49,16,累计未分配利润,1883.35,4330.81,6669.10,10066.07,17489.13,表 利润和利润分配表,Course Design for Real Estate Development&Operation,52,（四）盈利能力分析,1,、财务内部收益率,2,、财务净现值,3,、投资回收期,4,、投资利润率,计算指标,所得税后,所得税前,财务净现值,(,FNPV,)