代写范文

留学资讯

写作技巧

论文代写专题

服务承诺

资金托管
原创保证
实力保障
24小时客服
使命必达

51Due提供Essay,Paper,Report,Assignment等学科作业的代写与辅导,同时涵盖Personal Statement,转学申请等留学文书代写。

51Due将让你达成学业目标
51Due将让你达成学业目标
51Due将让你达成学业目标
51Due将让你达成学业目标

私人订制你的未来职场 世界名企,高端行业岗位等 在新的起点上实现更高水平的发展

积累工作经验
多元化文化交流
专业实操技能
建立人际资源圈

作业代写:Economic value added

2018-09-13 来源: 51due教员组 类别: Paper范文

下面为大家整理一篇优秀的paper代写范文- Economic value added,供大家参考学习,这篇论文讨论了经济增加值。经济增加值,就是用经过调整的税后净利润扣除企业一定时期内使用的全部资本的成本之后的余额,用于衡量企业财富的增加量。其本质是经济利润而不是传统的会计利润。尽管经济增加值计算权益资金的成本具有一定主观性,但忽略其存在就不能准确地评价企业为所有者创造的新价值。

Economic value added,经济增加值,essay代写,paper代写,作业代写

EVA is Economic Value Added English abbreviation, is by the United States, teng, management consulting firm in 1982, after nearly 30 years of promotion, EVA has gained popularity in the whole world, in recent years at home and abroad theory and practice not only as a corporate performance evaluation index, but also as a investment decision and management of the core tools, in guiding the enterprise goal setting, strategy evaluation, resource allocation, compensation design, accounting and financial planning, corporate mergers, acquisitions, and is widely used in such aspects as value enhancement.

The value added of economy is the balance after deducting the cost of all capital used by the enterprise within a certain period by the adjusted net profit after tax, which is used to measure the increase of enterprise wealth. Its essence is economic profit rather than traditional accounting profit.

The difference between EVA and the traditional "profit" is reflected in the income statement. The net profit only considers the cost of debt capital -- interest expense, and ignores the cost of equity capital -- dividend. EVA is calculated by deducting the cost of all funds from the adjusted net profit after tax. Although the cost of calculating equity funds is somewhat subjective, it cannot accurately evaluate the new value created by the enterprise for the owner if it is ignored.

The difference between EVA and residual income the residual income is the part of enterprise income that exceeds the overall average expectation, which is often used to evaluate the operating performance of profit center. EVA evolved from the residual income, and expanded the residual income from the following two aspects:

Different sources of capital cost are used. When the EVA method is used to evaluate the performance of the company division, the capital asset pricing model is used to calculate the specific risk level and capital cost for the independent profit center from the perspective of financial management, rather than the weighted average capital cost of the head office.

Calculation result more scientific, EVA is not directly use off-the-shelf accounting data can be calculated, and the need to influence the total assets, net profit after tax and adjust the cost of capital projects, make the enterprise use all sorts of explicit and implicit costs can be truly reflected, in order to accurately measure the enterprise takes up the consumption of resources and create value, to ensure the impartiality of the assessment results in the end.

The difference between EVA and MVA MVA is the difference between the market value of the enterprise and the total capital of the invested enterprise, which is the present value of the expected future EVA of the enterprise. Modern enterprise theory holds that the mission of an enterprise is to create value for shareholders. In the long run, the market value of an enterprise reflects the judgment of investors on its business performance and future growth prospects, which is the most intuitive value standard. But the level of market value can not reflect the business performance of enterprise management. That is to say, it is wrong to look at the market value of an enterprise. A large enterprise is not necessarily a good enterprise that can create value.

EVA discriminant standard use EVA model for performance evaluation and investment decision-making main whether EVA is greater than zero, only when EVA is greater than zero, then the business operators to create the value, can really bring wealth for investors, investors should continue to invest, the size of the EVA can carry on the expression of enterprise value creation, used to measure the performance of enterprise more scientific.

Conducive to the correct evaluation of enterprise performance economic added value can be more real and comprehensive evaluation of enterprise business performance, the traditional accounting profit only consider the cost of debt capital, without taking into account of equity capital cost, inflated accounting profit is the root of many state-owned enterprises in our country Ming real losses, in fact profitable enterprise does not create value. The concept and assessment method of economic added value are introduced to take into account the cost of capital invested by shareholders in the enterprise. Only when the enterprise's profit exceeds the cost of equity capital can the shareholder's wealth be truly increased. Make the original in order to benefit as the center, to capital appreciation as the center, with economic value added as the evaluation index, realize enterprise value maximization goal, can make the management more rationally, judicious use of capital, so as to avoid short-term investment decision-making behavior, the management is advantageous to the enterprise long-term development strategy, this is the most prominent feature of a economic added value.

The increase and decrease of the indicators of economic added value are consistent with the increase and decrease of shareholder wealth, thus forming a new compensation system -- the system of economic added value compensation. This compensation system is no longer a fixed value, but linked to the added value of the economy. It is linked to the performance of employees and has an uncapped bonus system. As long as the added value of the economy increases, the operators can share the "excess profit" according to a certain proportion. This can increase the motivation of business managers to create excess economic added value and urge them to formulate and implement strategies and strategies more conducive to enterprise development. Economic value added incentive mechanism mainly includes EVA bonus bank and EVA stock option plan.

The basic content of EVA bonus bank is that a certain proportion of the economic added value earned by the company is rewarded as bonus to the operation managers and employees of the enterprise in each period, but this part of bonus should be deposited in the bank first. When the added value of the economy is positive, it will increase the book value of the dividend bank; On the other hand, it reduces the bank's book balance. Thus the managers and staff's personal interest and the continuous improvement of economic value added, and is a dynamic, time continuation of incentive mechanism, it can inspire operators and managers and staff's enthusiasm and creativity, enable it to work harder to improve business performance, is conducive to further improve the corporate governance structure.

EVA option plan is linked with EVA bonus plan. The number of stock options granted is determined by the EVA bonus obtained in that year. Managers and employees use their bonus to buy stock options. The exercise price is not fixed, roughly equal to the market price at that time. According to the option pricing principle, when the exercise price rises, the value of the unit option will decline, and the amount of grant should be increased. In this way, the interests of operators can be combined with the interests of shareholders. The only way for operators to improve their earnings is to continuously increase the economic added value while creating more wealth for shareholders.

It is conducive to the sustainable development of central enterprises and guides them to increase investment in scientific and technological innovation. Economic added value is an effective indicator to guide value creation. Only when an enterprise's return on investment exceeds its total capital cost can it prove that it is truly profitable. Therefore, economic added value is the core of the management system, which is conducive to the reconstruction of enterprise value. The value added of the economy mainly starts from the value creation activities of the enterprise, and discusses the maximum value increment that the enterprise can achieve under the condition of the resource utilization efficiency and the resource allocation policy is relatively stable. It emphasizes the impact of value creation process or value chain on resource utilization efficiency, and holds that only by improving resource utilization efficiency can the sustainable growth level of enterprise value be enhanced essentially. Reflect the enterprise value of the added value of economic sustainable growth of sustainable growth and the sustainable growth of enterprise value reflect the enterprise's core competitiveness, the same as the enterprise's financial goals, namely economic added value is the growth of enterprise value management, is the management benefit, shareholders and the management of the enterprise value creation together, this will affect all the growth in the value chain management behavior, the source of the added value of economic sustainable growth is the enterprise value creation to provide stable and reliable in the process of economic interests.

The research development cost and market development cost will be capitalized when calculating economic added value. The research and development expense and market development expense that are about to take place in the current period are added into the asset as a long-term investment of the enterprise. Meanwhile, according to the principle of double entry bookkeeping, the total amount of capital increases by the same amount. The amortization is then carried out over a period of several years on a case-by-case basis and the amortized value is included in the current expense deduction profit. The amortization period is generally between 3 and 8 years, depending on the nature of the company and the expected effect of the investment. In this way, the company put into research and development costs and marketing costs are not in the current verification, amortized over the periods but, of the operator is not short-term performance have a negative impact, encourage managers to research and development and market development, enhance the staying power for the enterprise long-term development, is advantageous to the company in the future to improve labor productivity and business performance.

51due留学教育原创版权郑重声明:原创paper代写范文源自编辑创作,未经官方许可,网站谢绝转载。对于侵权行为,未经同意的情况下,51Due有权追究法律责任。主要业务有essay代写、assignment代写、paper代写服务。

51due为留学生提供最好的paper代写服务,亲们可以进入主页了解和获取更多paper代写范文 提供作业代写服务,详情可以咨询我们的客服QQ:800020041。

上一篇:作业代写:Reduce the cost 下一篇:北美作业代写:Non-power leadership