【正文】 service overall, product by region and product by customer. In order to allow that understanding, revenues and costs for a specific product or service should be disaggregated early, as shown in Exhibits 9, 10 and 11, if they meet the following criteria: 182。 Logi st i c s/Ne t work )?No nopera ting in e/No nopera ting as sets+HR costs an d in ternal m u n icati onNet o pera ting as setsCa pital em ploye d**xNo nopera ting as setsCa pital em ploye dxXServ ice usag e(C F U He a ds )Co st/ser vic e(S R U He a ds )XServ ice usag e(C F U He a ds )Co st/ser vic e(S R U He a ds )Pr e taxO p e r ati n gRO CE *Pr e taxNon O p e r ati n gRO CEExh i bi t 1** C a pi t a l e m pl oy e d = Ope ra t i ng a ssets + Non op e ra t i ng a ssets (se e At t ri bu t i on of no no per a t i ng a ssets on pa ge 24 ) 中國最大的管理資源中心 第 5 頁 共 28 頁 efficiency improvements decisions. This means that they should be held accountable for service levels provided, for the costs of the services under their responsibility and for the assets they employ in order to provide those services. Exhibit 2 shows a breakdown of costs for the work, that links the different drivers to the ultimate performance indicator. By understanding each of these drivers, work can better manage its responsibilities. A similar breakdown should be used for each SRU and CCU. * Ex te rn a l Pl a n t in cl u d e s a cce ss a n d s o me t e rmi n a l sw it ch in g (i .e . to ta l lo ca l lo o p )** In te rn a l Pl a n t in cl u d e s Te rmi n a l S w it ch in g , Ju n ct io n N e tw o rk, D L D S w it ch in g + T ra n sm is si o n , IL D S w it ch in g + T ra n sm i ssi o nSo u rce : Mc Ki n se yL i n eS e n si tiv eC o stsT r a ff i cS e n si tiv eC o sts$L i n e u seL i n e u se$E r l a n g s P e a k xE r l a n g s p e a kE r l a n g s A vg .$E r l a n g s A vg .E r l a n g s A vg .$ D E PL i n e ca p$ Op p o r tu n i tyco st o f In ve n to r yL i n e C a p$ Op e r a t.L i n e ca p$ Ot h e rL i n e ca pA vg . sa l a r yE r l a n g s ca pE m p l o ye e s$ P r e vi o u s ye a r a ss e t s/l i n e+$ N e w a ss e ts/ l i n e$ W r i te o ff s/ l i n e$ P r e vi o u s ye a ra ss e ts/ e r l a n g+$ N e w a ss e ts/ E r l a n g$ W r i te o ff s/ E r l a n gC u r r e n t a ss e tb a seD e p r e ci a tio n r a te$ D E PE r l a n g ca p$ L a b o rE r l a n g ca pD e p r e ci a tio n r a te??N e tw o r kC u r r e n ta ss e tb a sexD i r e ct co stT r a n sf e r r e d$L i n e ca pL i n e u seL i n e ca px$E r l a n g ca pE r l a n g p e a kE r l a n g ca p( E xte r n a l P l a n t* )( In t e r n a l P l a n t * *,T r a n sm i ss i o n )?L i n e C a p$ OP E R$ In sta l l a tio n+$ M a i n te n a n ce+$ R e p a i r+$ D i sp a tch+$ T e ch . S u p p o r t+$ Ot h e r?M a te r i a lC o stIn sta l lL a b o rC o stIn sta l lN E TW O R K C OST A N D C A P IT A L E FF I C I E N C Y ME A S U R E S R e l a te d t o o p e ra ti n g ra t i o s+x?+++?x++E x h i b i t 2 Corporate Finance is a particular unit, responsible for managing the capital structure, minimizing ine tax, optimizing cash management and investments. It is accountable for the Telco’s financial contribution and the Telco’s nonoperating ROCE. Exhibit 3 shows the breakdown of drivers this unit should monitor. 中國最大的管理資源中心 第 6 頁 共 28 頁 Af te r t a x R OC EF i n a n ci a lcon tr i b u tionR OE M a r g i n o n d e b t xD e b t/ ca p i ta le m p l o yedM a r g i n o np r e fe r r e d sto ck xPr e f e r r e d sto ck/cap i ta l e m p l o ye dM a r g i n o nm i n o r i ty in te r e st xM i n o r i tyi n te r e st/ cap i t a le m p l o yedAf te r t a x R OC E Af te r t a x co sto f p r e fe r r e d++Af te r t a x R OC E Af te r t a x co sto f d e b tPr e t a x co st o f d e b t x1 M a r g i n a l ta x r a te1Op e r a t i n gta x r a teT a x e xp e n se/ E BI T +D e b t ta xshie l d /E BI TC a sh t a xes/ E BI T +D e fe r r e dta xes/ E BI TIn te r e st e xpe n se/ EBI T x1 M a r g i n a l ta x r a tePr e t a xR OC ESe e R O C E t re eW e i g h te dfina n ci a l m a r g i n xL e ver a g e ( C a p i ta le m p l o yed /e q u i t y)RET UR N O N EQ UI T Y T REEF i n an cial re l a ted b re ak d o w nExhi bi t 3Cor por ate Fi nanc e ac co unt abil iti es Therefore, each unit’s report needs to be designed around these different responsibilities. CFU Reports As stated above, CFUs will be held accountable for the profitability of their customers and over the Operating Return on Capital Employed (Operating ROCE) to run the business. Therefore, CFU financial reports should include a Profit and Loss (Pamp。 The breaking down of real costs into annual unit costs based on the budget, and variances, in order to pensate for forecasting accuracies 182。 The generation of different types of reports depending on the nature and responsibilities of the Unit (CFUs vs. Network and other Shared Resource Units or Corporate Units) 182。 Company personnel. No part of it may be used, circulated, quoted, or reproduced for distribution outside McKin