IRR lissãfi. IRR: definition, misalai na dabara da

A ciki kudi na sama (IRR / IRR) ne mai matukar muhimmanci nuna alama na zuba jari. IRR lissafi ya nuna abin da mafi ƙarancin kaso lissafi za a iya shigar dasu a cikin lissafi na da tasiri na shisshigi, da kuma net ba darajar (NPV) na aikin ya zama daidai 0.

Net Present Value (NPV)

Ba tare da kayyade darajar NPV lissafi na aikin IRR na zuba jari ne zai yiwu ba. Wannan nuna alama ne da Naira Miliyan Xari da halin yanzu darajar kowane daga cikin lokuta na zuba jari ayyukan. A gargajiya dabara na nuna alama ne kamar haka:

TTS PP = Σ _k / (1 + p) ^q, inda:

• NPV - net ba darajar.
• PP - rafi na biya.
• p - rate lissafi.
• to - lokacin da lambar.

PP _k / (1 + p) ^k - shi ne yanzu darajar a wani lokaci, da kuma 1 / (1 + p) ^k - discounting factor ga wani lokaci. Stream na biya lasafta yadda bambanci tsakanin biya da kuma receipts.

discounting

A rangwame dalilai daidai da real darajar daya kudin nan gaba biya. Rage coefficient na nufin wani karuwa a amfani lissafi da kuma rage kudin.

A rangwame factor za a iya wakilta biyu dabarbari:

FD = 1 / (1 + p) ⁿ = (1 + p) ^-n inda:

• PD - rangwame factor
• n - yawan na zamani.
• p - da yawan lissafi.

yanzu darajar

Wannan Fihirisar za a iya lasafta ta halitta da rangwame factor ga bambanci tsakanin kudin shiga da halin kaka. Kasa misali ne na kirga yanzu darajar da biyar lokaci a lokacin da lissafi yawan 5% da kuma biya a cikin adadin 10 dubu kudin Tarayyar Turai kowane.

TC1 = 10.000 / 1,05 = 9523,81 Tarayyar Turai.

TC2 = 10 000 / 1,05 / 1,05 = 9070,3 Tarayyar Turai.

TC3 = 10 000 / 1,05 / 1,05 / 1,05 = 8638,38 Tarayyar Turai.

TC4 = 10 000 / 1,05 / 1,05 / 1,05 / 1,05 = 82270,3 Tarayyar Turai.

TC5 = 10 000 / 1,05 / 1,05 / 1,05 / 1,05 / 1,05 = 7835,26 Tarayyar Turai.

Kamar yadda ka gani, a kowace shekara da rangwame factor ƙaruwa, da kuma na yanzu adadin da aka rage. Wannan yana nufin cewa idan kamfanin dole ne a zabi tsakanin biyu ma'amaloli, ya kamata ka zabi daya bisa ga abin da kudi za su je kamfanin ta bank account maza maza.

Ciki kudi na sama

IRR lissafi za a iya yi da ake ji duk na sama data. A canonical nau'i na dabara domin kirga wadannan index:

0 = Σ1 / (1 + IRR) ^k, a cikinsa:

• IRR - ciki kudi na sama.
• K - na gaba lokaci.

Kamar yadda gani daga dabara, net darajar a cikin wannan harka dole ne daidai da 0. Duk da haka, wannan hanya na lissafi IRR ba ko da yaushe tasiri. Ba tare da wani kudi kalkuleta domin sanin shi ba zai iya zama, idan zuba jari aikin zai hada da fiye da uku lokaci. A wannan yanayin, zai zama ya dace a yi amfani da wadannan hanya:

GNI = R _m + p _kn * (TTS _m / P _TTS) a cikinsa:

• IRR - Ciki Rate.
• KP _m - karami yawan lissafi.
• P _kn - bambanci tsakanin manya da ƙananan amfani rates.
• TTS _m - net ba darajar samu ta hanyar da lissafi a rates;
• P _PBX - cikakken bambanci a cikin rãyuwar darajar.

Kamar yadda za a iya gani daga dabara domin kirga da IRR kamata sami net ba ta da daraja a biyu daban-daban yawan lissafi. Ya kamata a haifa tuna cewa wadannan bambance-bambance kada ta kasance manyan. Matsakaicin - 5 bisa dari, amma shi bada shawarar ya dauki Fare tare da kalla yiwu bambancin (2-3%).

Bugu da ƙari kuma, shi wajibi ne ya dauki irin wannan girma rates a da TTS zai yi a daya hali wani mummunan darajar, da kuma na biyu - m.

Misali na lissafi IRR

Domin mafi fahimtar sama abu dole ne a disassembled misali.

A kamfanin na shirin wani zuba jari aikin na tsawon shekaru biyar. A farkon da shi za a kashe 60 dubu kudin Tarayyar Turai. A karshen shekarar farko da kamfanin zai zuba jari a aikin wani m 5 miliyan kudin Tarayyar Turai a karshen shekara ta biyu - 2000 Yuro, a karshen shekara ta uku - daya dubu Tarayyar Turai, da kuma kara 10 Euro miliyan za a kashe a yanzu a shekara ta biyar.

A Company zai sami albashi a karshen kowane lokaci. Bayan shekarar farko da size da albashi na 17 da miliyan kudin Tarayyar Turai a shekara ta gaba - 15 dubu kudin Tarayyar Turai a shekara ta uku - 17 dubu kudin Tarayyar Turai a karo na hudu - 20 dubu Tarayyar Turai da kuma 25 dubu kudin Tarayyar Turai a kamfanin zai kasance shekara ta ƙarshe daga cikin aikin. A rangwame kudi ne 6%.

Kafin ka fara kirga da ciki kudi na sama (IRR), kana bukatar yin lissafi da girman da TTS. Its lissafi ne da aka nuna a tebur.

Kamar yadda ka gani, wani riba da aikin. TTS ne 904,6 Tarayyar Turai. Wannan yana nufin cewa zuba jarin babban birnin kasar na kamfanin ya biya kashe for 6 bisa dari, kuma ko da ya kawo 904,6 Tarayyar Turai "daga sama". Next kana bukatar ka sami wani mummunan net ba darajar. Its lissafi ne da aka nuna a cikin jadawali.

Daga tebur a fili yake cewa da zuba jari babban birnin kasar da aka ba biya kashe 7 bisa dari. Saboda haka, ciki payback index darajar ne tsakanin 6 da 7 bisa dari.

GNI = + 6 (7-6) * (904.6 / 904.6 - (-812,3)) = 6,53%.

Saboda haka, Project IRR ya 6,53 da kashi. Wannan yana nufin cewa idan shi ne ya sa a cikin NPV lissafi, da darajar zai zama sifili.

Primechenie: lissafi da hannu ne a yarda kuskure 3-5 Tarayyar Turai.