Chinowedzera uye discounting oparesheni. Financial kwema mumusika upfumi

Pachishandiswa mubereko anofanira kunzwisiswa Mhedziso kukura purofiti chichiwanikwa somugumisiro mari. Vanogona kuparadzirwa chero chimiro. Zvinogona zvakasiyana siyana kwema zvemari. Somuenzaniso, chinozoiswa chikwereti nyaya, achiisa mari nenzira escrow nhoroondo, kutengeswa kwenhumbi nechikwereti, kutenga mari tsamba, chisungo, rugwaro discounting, uye zvichingodaro. Zvikuru kukosha ndiye ukama pakati mwero Chinowedzera uye discounting zvazvingava. Funga zvinhu izvi zvizere.

Specificity

The chimbadzo ndiyo hama uwandu kwemubairo kuti vamwe (wakaiswa) nguva penguva. Zvinonzi inoumbwa nhamba mari chikwereti saizi. Nokuyerwa rinoitwa zvayo vanhuwo kana grade kana chikamu. Kana kuongorora mashandiro zvemari, nyanzvi kushandisa hama mari sezvo nechiidzo pamusoro dhigirii kubudirira (profitability) upi ezvokutengeserana, zvoupfumi, mubhizimisi, anomukweretesa mabasa. Muchiitiko chino, zvichava zvisina basa kana chokwadi kuti bhizimisi uye muitiro kuwedzera inzwi ravo, kana hazvina kuitika. Nguva nguva, iyo nenguva mwero muzana, akataura nguva kukarukureta. Vanogona kuva pagore, Quarterly, hafu-gore, mwedzi uye kunyange zuva mune zvimwe zviitiko. Sezvo ushe, uwandu wepagore rakashandiswa uchidzidzira.

The pfungwa discounting remapazi (accrual) guta

By chibvumirano pakati mukwereti uye akakweretesa, kufarira mari dziri sezvo chakakonzerwa namaneja, kana vanobatanidzwa chikuru huwandu chikwereti. Kuwedzera yesangano pamusoro nguva nokuda kwemapazi - ndiyo increment guru. Inonzi vachiri kuwedzera mari. The dhisikaundi zvazvingava - the itirana pakati mwero Chinowedzera. Izvi imhaka ndechokuti rutapudzo uwandu kuti inobatana kukasaitwa nguva ipfupi ne yakakodzera dhisikaundi unodiwa. Muzviitiko zvakadaro tinoti Zvakarurama chizvidavirire (discounted) zvazvingava. Mubereko chichiwanikwa pamusoro pavo, akadana antisipativnymi, uye avo vakaita kwamuka chitsama zvibereko kunotaurwa dekursivnymi. Ndizvo pfungwa discounting remapazi (accrual) kuti guta.

Zvinoumba accrual

Kazhinji, kungova kunzi mubereko dekursivnye muzana. Nokuti kukarukureta ravo vachishandisa wakaiswa nechimwe. Kana sokugamuchira chitsama izvo yave yakawanikwa panguva yapfuura pavaipfuura rutapudzo kana kuwedzera, mukomboni kufarira rikashandiswa. Accretion uye Discounting Muzviitiko zvakadaro kunoitika muenzaniso chaiwo. The hama mari anogona wakaiswa. Muchiitiko chino, tsunga maererano nokukura kwavo kondirakiti. Vanogonawo sechaiyangarara. Panyaya iyi, chibvumirano hariratidzi inoenzanirana uye chawo kuchinja nguva chinguva, uyewo chitsama kwomugove - kumahombekombe. yokupedzisira vagara vandifungira kukura chikwereti rokuti, akakwereta anogona kubhadhara uye zvimwe zvirwere. The chikwereti kwema panguva zvingava shanduka kana kuramba. Kana kutendera maviri zvokusarudza Kufarira sequential nokuripira. Muchiitiko chokutanga mwero mhindu (kunzwisisa kana nyore) rinoshandisirwa chaiko uwandu aripo chikwereti. Musimboti yechipiri inoshandiswa nevatengi chikwereti. Muchiitiko chino, anofanira mhosva nokuda zvizere uwandu munataisireva ayo dzakakudzingai Serial pakunamata. In tsika anoshandisa discrete zvizhinji. Vari paakavapa kuti imwe nguva (mwedzi mitanhatu, rimwe gore, etc.). Chinowedzera uye discounting mashandiro zvinogona kuitwa dzose, nokuti kamwoyo nguva. Panyaya iyi, iyo runoenzanirana pauwandu hweavo vaishandisa (enderera).

Formula Chinowedzera uye discounting

Mukutonga yakawanda chikwereti (zvikwereti, deposits, zvimwe zvikwereti kana paakapiwa mari) vanofanira kunzwisisa pakutanga Vhoriyamu mari mubereko pakazopera ari accrual kumwedzi. Saka, zvinokwanisika kuziva:

• mubereko yose nguva - I;
• mari yepakutanga chikwereti - P;
• yakawanda mari (pakuguma kwenguva) - S;
• interest - i;
• chikwereti nguva - n.

Over nguva yose mubereko richava:

I = Pni.

Accretion chitsama kunotemwa nokuwedzera kwokutanga mari uye mubereko:

P + Ini = P + Pni = P (1+, ni) = S.

In tsika, kazhinji kutarisana nevakomana nedambudziko. On Verengai S, riri bhadharika pashure imwe nguva penguva N, unofanira kuona kukura chikwereti, iyo rwaiwanikwa - R. In nyaya dzakadaro kune discounting. The kukarukureta rinoitwa kana yechimbadzo Verengai S ichaitwa pachine zvakananga chete issuance yacho chikwereti. Process mubereko kukarukureta uye Kudzimwa kudanwa kuti ndizvidavirire. Pachavo sezvo mubereko chinonzi dhisikaundi kana dhisikaundi. Nokuti kukarukureta anofanira kushandisa mukana wokuti vanhu vanga S = P (1 +, ni). Kuwana P = S / (1 +, ni). Saka, P achava kukura S ano, N kubhadharwa papera makore. Masvomhu aya anoratidza mhando dhisikaundi (Chinowedzera) nyore. Mukupera Kana musiyano pakati kwemasvomhu tsanangudzo Verengai. Sezvinogona kuoneka, asi Masvomhu vakashandisa zviratidzo, iyo inoshandiswa mukushanda Chinowedzera uye discounting.

Ya nguva

Chinowedzera akavhiyiwa uye dhisikaundi zvinogona dzaona kubva mbiri nguva zvigadziko. Kana K mazuva 360, iwe kuwana zvokutenga kana zvakafanana kufarira. In pokushandisa chaiko ya pakarenda gore mazuva 365 kana 366 zvikwereti chaiwo pauwandu hweavo. Mazuva ari chikwereti chinobviswa chaizvo uye anenge. Mukupera zvakadaro, pachava nemazuva 30 mumwedzi. The nhamba chaiyo mazuva zvinogona pakutsvaga pakuverenga nhamba yavo pakati misi apo chikwereti wakabudiswa, uye kana rinofanira kuzodzimwa. Maererano Art. 839, a. 1 Civil Code, mazuva iro rave nokupfigwa mipiro haana kuiswawo pakati zvachose nguva kuti kuverenga.

kushandiswa mikana

In tsika, shandisa nhatu Interest:

1. The chaiyo ine chaiyo nhamba mazuva. Panyaya iyi tinofanira kushandisa notation AST / kana AST 365/365. Ipfungwa ichi rinoshandiswa ne nechepakati uye makuru vezvokutengeserana rwezvemabhengi masangano muUnited States uye Great Britain. nzira iyi kukarukureta runoita kuti vawane chaiyo.
2. Munhuwo yechimbadzo chaiyo pakati chikwereti mazuva. Panyaya iyi tinofanira kushandisa notation AST / 360 kana 365/360. Nzira iyi dzimwe nguva anonzi kubhengi. Rinoshandiswa kuti kwema pakati pemahombekombe munyika dzakasiyana kana nyika chete. nzira iyi, zvikurukuru, chinoremedza muSwitzerland, Belgium uye France. With kukarukureta ichi tinowana zvishoma mukuru mari pane pamwe chaiyo ndivo.
3. Kwakajairika mubereko ane muenzaniso nhamba mazuva (360/360). Nzira iyi kwaiitwa zvebhizimisi pemahombekombe Denmark, Germany, Sweden. Yakadaro musimboti rinoshandiswa zviitiko apo chaiyo mugumisiro harudikanwi (semuenzaniso, panguva zvenguva Masvomhu).

In muitiro bhizimisi iri dhipoziti pfupi mune dzimwe nguva tiri kakawanda kupindirana kudzokororwa nyore kufarira accrual mu zvinonakisa zvakafanorongwa kumwedzi. Saka akaita reinvested uwandu akagamuchira tichifambirana nerimwe kuwedzera uwandu mari uchishandisa shanduka kana wakasimba nechimwe.

rutapudzo

Discounting kunganzi somunhu tsanangudzo kukosha chero parameter chokuita kuuya nguva imwe nguva yakanga yapfuura. Nzira iri raireva imwe actuation ukoshi, yemanyorero chikuru, nguva. Amount P vakawana achishandisa rutapudzo, kana kudana magetsi kukosha yemberi muripo musi saizi. Zvichienderana mhando chimbadzo rinoshandiswa shanduro mbiri dhisikaundi:

1. Kwemasvomhu nzira.
2. Commercial (bhangi) Nhoroondo.

In wokutanga musimboti inokurukurwa kumusoro, kuti vakawana chikamu chiduku anonzi discounting chinhu. Zvinoratidza inorwara unova kutanga kukura chikwereti ari finite chitsama. Kana tichishandisa nzira ezvokutengeserana Zvidavirire pamusoro sangano zvemari risati musi bhiri muripo kana mamwe mubhadharo mutoro kutenga kubva muridzi ngozi yakaderera pane zvinoratidzwa mupepa. Saka, kuunganidza rinoitwa kufungisisa discounts. At kukura mubhengi vakagamuchira mari, anoziva kufarira mari iri muchimiro dhisikaundi. Muridzi bepa kushandisa nhoroondo anokwanisa kugamuchira mari pamberi wainyatsotaura wava mairi.

Features mari

chibatiso ichi anopiwa ari muchimiro wevimbiso kucherechedza. The wevimbiso katsamba iri rakapa maererano zvemitemo zvinodiwa. Standards zvinopa anokosha siyana umo iripo zita, wakakodzera musi, nzvimbo anofanira kuitwa, mashoko panyaya, izvo zvaireva muripo, pamusoro zuva uye nzvimbo bepa, iyo siginicha yacho kumucheri mashoko. debentures izvi zvinogona kuva transferable uye nyore. Ekupedzisira dzinoturwa muchimiro magwaro setifaya zviri isiyo zvemari zvinosungirwa issuer kubhadhara imwe mari yokuchengeteka yokuisira pakukura mitoro. Inonzi transferable gwaro prescribes mukwereti. Sola - mufananidzo chaiwo mirairo zvakananga Ltd. (Banking masangano, kazhinji) kubhadhara nenzira yakakodzera musi kuna anaro (a pati wechitatu) imwe mari.

chizvidavirire mari

For kuchengetedzeka yakadaro achishandisa zvokutenga (kubhengi) nzira. Maererano afarire kushandiswa zvikwereti zviri chimiro dhisikaundi achapiwa dzaona pamusoro mari iyo inofanira kubhadharwa pakupera kwenguva. Accounting chakarurama muchiitiko ichi anoita d. Mari achava vakaenzana SND. N achange kuyerwa nemakore, kana D - wegore chimbadzo. Masvomhu ndeinotevera:

P = S - SND = S (1 - nd it),

apo N - nguva kubva musi kunyoresa kusvikira pazuva kugarwa kuti aite;

(1 - nd it) - dhisikaundi chikonzero.

Accounting, sezvinoita mutemo, kuitwa panguva kuti pechingoro akaenzana 360 mazuva, mazuva chikwereti chacho chinobviswa unowanzosangana yakarurama.

vamwe mikana

Chinowedzera uye discounting akavhiyiwa kwete chete akaverenga uri nyore mubereko. Somuenzaniso, mari haina kubhadharwa pakarepo mushure kuchaja, uye vanobatanidzwa mari kupiwa. kubatana kwakadaro anonzi capitalization mhindu. Dzemaitirwe, unogona kushandisa chete zviratidzo kuti zvave kumusoro.

Pakupera kwegore kufarira wakaenzana Pi wokutanga. Accreted chitsama zvichange P + Pi = P (1 + i). Panozopera rechipiri gore zvinova P (1 + i) + P (1 + i) Ini = P (1 + i) 2 uye zvichingodaro. Pamusoro kupera, mari ichava N S = P (1 + i) N, uye chikamu kwenguva I = S - P = P [(1 + i) N - 1].

(1 + i) N - chinhu Chinowedzera kuti akakura mubereko. Time Muzviitiko izvi kunoyerwa sezvo ITA / CHIMWE CHINHU. Kazhinji shoko rokuti mubereko accrual hakusi integer.

Kukarukureta zvinhu pamwe kuwedzera zvinoreva

Pfungwa dzinotevera dziri dzakava apo kuchaja:

1. Kukarukureta rinoitwa kushandisa wose nhamba makore. It hunobviswa yokuita mukomboni mubereko. Kubva ukama nyore muzana kutora fractional chikamu kumwedzi.
2. Maererano nemitemo mimwe ezvokutengeserana mabhanga kuti nhamba remapazi, chitsama kufarira akapiwa chete rose nhamba nenguva (makore kana zvimwe nguva).

Kuenzanisa migumisiro kuwedzera pane zvakasiyana-siyana mwero zviratidzi vachava zvakakwana kuita tikaenzanisa kuMudzidzisi zvinhu. At zvakaenzana kwevari prices muzana ratios pamusoro parameters aya substantially novimba nguva. Kana N> 1, pamwe musiyano elongation nguva kuchawedzera. Kushanda remubatanidzwa mubereko, kushandisa mutemo 72: kana interest ndechokuti, i, Verengai doubling kunoitika munenge 72 / Ini makore. Somuenzaniso, pana 12% zvichaitika pashure 6 years.

Chezita uye inoshanda zvazvingava

In ezvinhu ano ari capitalization kufarira rinoitwa, ave mutemo, kwete kamwe asi kanoverengeka rose gore. Izvi zvinogona kuitwa pamusoro Quarterly kana kwetemu. Mune dzimwe vatorwa yezvokutengeserana rwezvemabhengi zvivako uye tsika daily accrual. Kana tikatora nhamba pagore J, nhamba nenguva pagore - m, mumwe nguva imwe ndivo chichaitwa musi J / m. Rate J anonzi chezita. Panewo chikonzero (anobudirira) zvazvingava. It is pagore remubatanidzwa chimbadzo. Sezvo ndezvevakazvigadzirirwa kushandisa chete mugumisiro sezvo paaishandisa M - imwe-nguva kukarukureta wokufarira pamusoro J / m. zvazvingava ichi anoyera hama mari chaiyo, iyo akawana kwegore rose.

bhangi discounting

Dzemaitirwe nzira dzakashandiswa yezvokutengeserana mwero yakaoma. Muzviitiko zvakadaro, chitsama rutapudzo kwacho rinoitwa neumwe slowdown. Izvi imhaka yokuti ose nguva mubereko prices vasiri kureva kutanga vhoriyamu mari. Zvinonzi kushandiswa pachiyero, discounted vachiri padanho panguva penguva. Zvinobudirira chizvidavirire paakati chinoratidza mwero rutapudzo mugore. zvazvingava Izvi zvose nyaya kuti M> 1 idukusa yacho aizviti.