Warianty tytułu
An Analysis of Indicators Employed in the Cash Flow Model
Języki publikacji
Abstrakty
W artykule omówiono koncepcje analizy ekonomicznej projektów inwestycyjnych, oraz założenia i punkty krytyczne w podejściu cash flow. Dokładna i właściwie zastosowana metoda do analizy zysku materiałów inwestycyjnych powinna służyć za bazę do zarządzania materiałami inwestycyjnymi w przedsiębiorstwach.
Capital is a rare commodity and is limited in a macro-economic sense to the sum which people decide to save. Investors entrust their capital to enterprises, whether in the form of stocks and shares or in the form of loans, and expect to receive a specific rate of return on their investment. Firms, granted the right to manage capital entrusted to them, invest it in various kinds of investment projects. The primary goal of their activity is to generate value added, i.e., increase the value of the investors' capital after covering the cost of securing that capital. One investment option at the disposal of an enterprise is material investments. The success of material investments depends on many factors, both those on which a firm has a direct influence, and on those which we call external factors, on which a firm cannot have a direct influence but which it must take into account. An accurate and properly applied method for analysing the profitability of material investments should serve as the basis for the management of material investments in enterprises. Financial analysis itself, the assumptions of which are often divorced from reality, gives no guarantee that estimated critical values such as profit, sales and others will actually achieve their predicted levels. One way of authenticating formulated critical assumptions may be to analyse the indicators used in the Cash Flow method, one effect of which will be to show that the assumptions determining a forecast are closely related to the actual situation of an enterprise and the environment in which it operates. (original abstract)
Rocznik
Numer
Strony
81--90
Opis fizyczny
Twórcy
autor
autor
Bibliografia
- Brealey E., Myers S., Principles of Corporate Finance, Mc Graw-Hill, 1984.
- Brigham E.F., Gapenski L.C., Financial Management Theory and Practice, Chicago 1991.
- Dubrin A.J., Essential Of Management, Cincinnati 1986.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000000010747
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