經(jīng)濟(jì)增加值計(jì)算方法在KM公司的應(yīng)用研究
發(fā)布時(shí)間：2018-10-30 16:41
【摘要】：KM公司股東大會(huì)決定從2011年開始采用價(jià)值管理體系,但由于該公司原來使用的評(píng)價(jià)指標(biāo)凈資產(chǎn)收益率不能直接滿足這一要求,而經(jīng)濟(jì)增加值(Economic Value Added,EVA)指標(biāo)反映的正是公司的價(jià)值增量,所以KM公司的業(yè)績?cè)u(píng)價(jià)指標(biāo)也轉(zhuǎn)變?yōu)镋VA。而KM公司管理者和財(cái)務(wù)人員發(fā)現(xiàn)對(duì)于EVA的計(jì)算,文獻(xiàn)中主要是計(jì)算框架,應(yīng)用時(shí)需要解決一系列具體的問題,如：KM公司EVA的計(jì)算范圍是什么?在KM公司中如何處理金融活動(dòng)和非經(jīng)常性損益對(duì)公司稅后凈經(jīng)營性利潤的影響?總資本中經(jīng)營資產(chǎn)和非經(jīng)營資產(chǎn)怎么區(qū)分?根據(jù)KM公司目前的發(fā)展?fàn)顩r、市場(chǎng)地位和戰(zhàn)略目標(biāo),重點(diǎn)會(huì)計(jì)調(diào)整項(xiàng)目是什么?如何確定KM公司本期計(jì)算EVA時(shí)的調(diào)整項(xiàng)目?計(jì)算EVA的邏輯步驟運(yùn)用到KM公司中去具體過程是什么?本文通過運(yùn)用2011年財(cái)務(wù)報(bào)表數(shù)據(jù)及其他資料,計(jì)算KM公司2011年的EVA并解決在KM公司應(yīng)用EVA計(jì)算方法過程中遇到的問題,以便KM公司以后各年計(jì)算EVA時(shí)使用。 本文在計(jì)算KM公司2011年的EVA過程中,總結(jié)出將計(jì)算EVA的邏輯步驟運(yùn)用到KM公司中去的具體流程：步驟一、了解EVA的經(jīng)濟(jì)含義及其計(jì)算公式；步驟二界定本公司EVA的計(jì)算范圍,并進(jìn)行數(shù)據(jù)準(zhǔn)備工作；步驟三、運(yùn)用調(diào)整項(xiàng)目篩選表篩選KM公司應(yīng)進(jìn)行的會(huì)計(jì)調(diào)整項(xiàng)目；步驟四、調(diào)整并計(jì)算調(diào)整金額；步驟五、選取并估測(cè)公司資本成本；步驟六、計(jì)算結(jié)果并評(píng)估。 在步驟二中,KM公司計(jì)算EVA主要是考核經(jīng)營活動(dòng)對(duì)KM公司價(jià)值的影響,因此本公司EVA的計(jì)算范圍包括醫(yī)藥產(chǎn)品的生產(chǎn)、經(jīng)營和批發(fā)銷售等主營業(yè)務(wù)。所以在進(jìn)行會(huì)計(jì)調(diào)整的過程中,調(diào)整稅后凈經(jīng)營性利潤時(shí),需要將金融活動(dòng)(如長期借款等)和非經(jīng)常性損益(如營業(yè)外收支等)的影響從利潤中剔除；在調(diào)整總資本時(shí),需要將非經(jīng)營性資產(chǎn)(如無息流動(dòng)負(fù)債等)剔除。 在步驟三中,根據(jù)會(huì)計(jì)調(diào)整的原因(會(huì)計(jì)信息存在扭曲和失真),以及我國企業(yè)會(huì)計(jì)準(zhǔn)則(如對(duì)商譽(yù)和存貨的規(guī)定)和KM公司2011年的實(shí)際情況(如科目是否有發(fā)生額),通過運(yùn)用調(diào)整項(xiàng)目篩選表篩選出KM公司2011年計(jì)算EVA時(shí)需要進(jìn)行的會(huì)計(jì)調(diào)整,共有11項(xiàng),分別是：利息費(fèi)用、匯兌損益、營業(yè)外收支、所得稅費(fèi)用、戰(zhàn)略性投資、無息流動(dòng)負(fù)債、其他非經(jīng)營性資產(chǎn)、研究費(fèi)用、市場(chǎng)開拓費(fèi)用、各種資產(chǎn)減值準(zhǔn)備、遞延稅款。同時(shí),KM近幾年都處在業(yè)務(wù)的發(fā)展期,不斷開拓新的產(chǎn)品市場(chǎng)和地域市場(chǎng),因此戰(zhàn)略性投資和市場(chǎng)開拓費(fèi)用、研究費(fèi)用是重點(diǎn)應(yīng)該調(diào)整的項(xiàng)目。 如果KM公司以后用本文提出的計(jì)算方法來計(jì)算EVA,那么在具體操作中,步驟一了解EVA、步驟二中的界定EVA計(jì)算范圍(醫(yī)藥產(chǎn)品的生產(chǎn)、經(jīng)營和批發(fā)銷售等主營業(yè)務(wù))、步驟三中的了解常見的重點(diǎn)調(diào)整項(xiàng)目以及各項(xiàng)目的調(diào)整方法(附錄2)都可以用計(jì)算2011年EVA時(shí)的結(jié)果,不必再重復(fù)工作,這些步驟得出的結(jié)果在近幾年公司業(yè)務(wù)無大改變的情況下是可以通用的。所以本文的結(jié)論能夠?yàn)镵M公司及同行業(yè)、同類型公司計(jì)算EVA時(shí)借鑒所用。
[Abstract]:KM Company's shareholders' general meeting decided to adopt the value management system since 2011, but because the net asset rate of return of the evaluation index originally used by the company cannot meet this requirement directly, and the economic value added (EVA) index reflects the company's value increment. So KM company's performance evaluation index also changed to EVA. KM Company managers and financial personnel find that for EVA calculation, the literature mainly refers to the calculation framework, and the application needs to solve a series of specific problems, such as: what is the calculation scope of KM company EVA? How to deal with the impact of financial activities and non-recurring profit and loss on net operating profit after tax in KM? What is the distinction between operating assets and non-operating assets in total capital? According to KM Company's current development status, market position and strategic objective, what is the key accounting adjustment project? How to determine the adjustment items when KM Company calculates EVA during the current period? What is the logical step of calculating EVA to go to KM? Based on the data of 2011 financial statement and other materials, this paper calculates the EVA of KM Company in 2011 and solves the problems encountered in the application of EVA calculation method in KM Company, so as to use the EVA in every year after KM Company. In this paper, based on the calculation of the EVA process of KM Company in 2011, this paper summarizes the following concrete steps: step 1, understanding EVA's economic meaning and its calculation formula; step 2, defining the calculation range of EVA, and preparing data. working; step 3, screening the accounting adjustment items to be carried out by KM companies by using the adjustment project screening table; step 4, adjusting and calculating the adjustment amount; step 5, selecting and estimating the capital cost of the company; and step 6, calculating the calculation results and In Step II, KM Company calculates EVA mainly affects KM Company's value. Therefore, EVA's calculation scope includes the production, operation and wholesale sales of medical products. In the process of accounting adjustment, after adjusting the net operating profit after tax adjustment, it is necessary to eliminate the effects of financial activities (such as long-term borrowing, etc.) and non-recurring profit and loss (such as non-operating income and expenditure, etc.) from profit; in adjustment In the case of total capital, non-operating assets (such as negative flow) need to be negative Elimination of debt, etc. In step 3, according to the reasons of accounting adjustment (accounting information is distorted and distorted), as well as the accounting standards of China (such as the provisions on goodwill and inventory) and the actual situation of KM Company in 2011 (e.g., Section Whether there is any amount), the accounting adjustment required to be carried out when KM Company calculates EVA in 2011 is selected by using the adjustment project filter table. There are 11 items, respectively: interest expense, exchange gain/ loss, non-operating income and expenditure, income tax expense, strategic investment, financial and financial flow liabilities. Other non-operating assets, research expenses, market development expenses, various assets reduction At the same time, KM has been in the development period of the business in recent years, and continuously develops new product market and regional market. Therefore, the research cost is heavy. The items to be adjusted should be adjusted. If KM Company uses the calculation method proposed in this paper to calculate EVA, then in the specific operation, Step I understand EVA, and Step Two defines EVA calculation range (production and operation of medical products). Main businesses such as wholesale and sales), the familiar key adjustment items in step 3, and the adjustment methods for various purposes (Appendix 2) can be used to calculate the results of the 2011 EVA and do not need to repeat the work. The results obtained in these steps have no major changes in the company's business in recent years It can be used universally, so the conclusion can be KM company and same industry, same type of public.
【學(xué)位授予單位】：華南理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275.2
本文編號(hào)：2300565
[Abstract]:KM Company's shareholders' general meeting decided to adopt the value management system since 2011, but because the net asset rate of return of the evaluation index originally used by the company cannot meet this requirement directly, and the economic value added (EVA) index reflects the company's value increment. So KM company's performance evaluation index also changed to EVA. KM Company managers and financial personnel find that for EVA calculation, the literature mainly refers to the calculation framework, and the application needs to solve a series of specific problems, such as: what is the calculation scope of KM company EVA? How to deal with the impact of financial activities and non-recurring profit and loss on net operating profit after tax in KM? What is the distinction between operating assets and non-operating assets in total capital? According to KM Company's current development status, market position and strategic objective, what is the key accounting adjustment project? How to determine the adjustment items when KM Company calculates EVA during the current period? What is the logical step of calculating EVA to go to KM? Based on the data of 2011 financial statement and other materials, this paper calculates the EVA of KM Company in 2011 and solves the problems encountered in the application of EVA calculation method in KM Company, so as to use the EVA in every year after KM Company. In this paper, based on the calculation of the EVA process of KM Company in 2011, this paper summarizes the following concrete steps: step 1, understanding EVA's economic meaning and its calculation formula; step 2, defining the calculation range of EVA, and preparing data. working; step 3, screening the accounting adjustment items to be carried out by KM companies by using the adjustment project screening table; step 4, adjusting and calculating the adjustment amount; step 5, selecting and estimating the capital cost of the company; and step 6, calculating the calculation results and In Step II, KM Company calculates EVA mainly affects KM Company's value. Therefore, EVA's calculation scope includes the production, operation and wholesale sales of medical products. In the process of accounting adjustment, after adjusting the net operating profit after tax adjustment, it is necessary to eliminate the effects of financial activities (such as long-term borrowing, etc.) and non-recurring profit and loss (such as non-operating income and expenditure, etc.) from profit; in adjustment In the case of total capital, non-operating assets (such as negative flow) need to be negative Elimination of debt, etc. In step 3, according to the reasons of accounting adjustment (accounting information is distorted and distorted), as well as the accounting standards of China (such as the provisions on goodwill and inventory) and the actual situation of KM Company in 2011 (e.g., Section Whether there is any amount), the accounting adjustment required to be carried out when KM Company calculates EVA in 2011 is selected by using the adjustment project filter table. There are 11 items, respectively: interest expense, exchange gain/ loss, non-operating income and expenditure, income tax expense, strategic investment, financial and financial flow liabilities. Other non-operating assets, research expenses, market development expenses, various assets reduction At the same time, KM has been in the development period of the business in recent years, and continuously develops new product market and regional market. Therefore, the research cost is heavy. The items to be adjusted should be adjusted. If KM Company uses the calculation method proposed in this paper to calculate EVA, then in the specific operation, Step I understand EVA, and Step Two defines EVA calculation range (production and operation of medical products). Main businesses such as wholesale and sales), the familiar key adjustment items in step 3, and the adjustment methods for various purposes (Appendix 2) can be used to calculate the results of the 2011 EVA and do not need to repeat the work. The results obtained in these steps have no major changes in the company's business in recent years It can be used universally, so the conclusion can be KM company and same industry, same type of public.
【學(xué)位授予單位】：華南理工大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275.2
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