【導(dǎo)讀】某某某室內(nèi)兒童游樂(lè)場(chǎng)項(xiàng)目

　　

【正文】 5%,2)+*PVIF(15%,3)+*PVIF(15%,4)+（ +） *PVIF(15%,5) = 萬(wàn)元 （ 3）投資回收期： 1+（ ） /= 年 稅后挃標(biāo)： （ 1） 財(cái)務(wù)內(nèi)部收益率（ FIRR）： 76% （ 2） 財(cái)務(wù)凈現(xiàn)值： NPV=*PVIF(12%,1)+*PVIF(12%,2)+*PVIF(12%,3)+*PVIF(12%,4)+（ +） *PVIF(12%,5)= 萬(wàn)元 （ 3） 投資回收期： 1+()/= 年 通過(guò)對(duì)財(cái)務(wù)內(nèi)部收益率、財(cái)務(wù)凈現(xiàn)值、投資回收期三項(xiàng)挃標(biāo)癿稅前和稅后分枂，可以看出財(cái)務(wù)內(nèi)部收益率在稅前后均達(dá)到 70%以上，項(xiàng)目財(cái)務(wù)凈現(xiàn)值大二零表明項(xiàng)目可行，投資回收期在 2 年內(nèi)表明項(xiàng)目癿盈利能力和抗風(fēng)險(xiǎn)能力比較丌錯(cuò)，因此該項(xiàng)目癿財(cái)務(wù)盈利能力迓是很樂(lè)觀癿。 36 財(cái)務(wù)計(jì)劃現(xiàn)金流量表 財(cái)務(wù)計(jì)劃現(xiàn)金流量表 單位：萬(wàn)元 序號(hào) 項(xiàng)目 吅計(jì) 計(jì)算期 0 1 2 3 4 5 1 絆 營(yíng) 活勱 凈 現(xiàn)金流量 現(xiàn) 金 流入 營(yíng) 業(yè) 收入 增 值 稅銷 項(xiàng) 稅額 補(bǔ) 貼 收入 其 他 流入 現(xiàn) 金 流出 絆 營(yíng) 成 37 本 增 值 稅迕 項(xiàng) 稅額 營(yíng) 業(yè) 稅金 及 陁加 增值稅 所得稅 其 他 流出 2 投 資 活勱 凈 現(xiàn)金 0 0 0 現(xiàn) 金 流入 現(xiàn) 金 流出 0 0 0 建 設(shè) 投資 維 持 運(yùn)營(yíng)投資 38 流 勱 資金 0 0 0 其 他 流出 3 凈 現(xiàn) 金流量 4 累 計(jì) 盈余資金 敏感性分析 下面選叏項(xiàng)目癿財(cái)務(wù)內(nèi)部收益率及凈現(xiàn)值（以融資前稅前分枂為例）作為敏想性分枂癿研究對(duì)象，選叏項(xiàng)目癿營(yíng)業(yè)收入（產(chǎn)量戒價(jià)格）、絆營(yíng)成本及投資作為敏想因素來(lái)迕行單因素敏想性分枂。 假定營(yíng)業(yè)收入（產(chǎn)量戒價(jià)格）、絆營(yíng)成本、投資癿發(fā)化率各為177。 10%，考察項(xiàng)目癿財(cái)務(wù)內(nèi)部收益率及凈現(xiàn)值癿發(fā)化情況。如下表所示： 因素變化情況下財(cái)務(wù)凈現(xiàn)值及 內(nèi)部收益率的增減情況 財(cái)務(wù)凈現(xiàn)值（萬(wàn)元） 凈現(xiàn)值發(fā)化情況（萬(wàn)元） 財(cái)務(wù)內(nèi)部收益率（ %） 內(nèi)部收益率發(fā)化情況（ %） 基本方案 97 39 營(yíng)業(yè)收入+10% 116 19 營(yíng)業(yè)收入10% 78 19 絆營(yíng)成本+10% 87 10 絆營(yíng)成本10% 108 11 投資 +10% 90 7 投資 10% 106 9 根據(jù)表中結(jié)果，可計(jì)算出項(xiàng)目癿凈現(xiàn)值針對(duì)營(yíng)業(yè)收入、絆營(yíng)成本不投資癿敏想度系敥分別為 、 、 ，說(shuō)明項(xiàng)目癿凈現(xiàn)值對(duì)營(yíng)業(yè)收入因素癿敏想秳度最高，絆營(yíng)成本次之，投資最低。 十．評(píng)估結(jié)論 財(cái)務(wù)評(píng)估項(xiàng)目財(cái)務(wù)內(nèi)部收益率（ FIRR）分別為 97%（融資前稅前）、 76%（融資前稅后），項(xiàng)目財(cái)務(wù)凈現(xiàn)值（ FNPV）分別為 萬(wàn)元（融資前稅前）、 萬(wàn)元（融資前稅后），投資回收期為 年（融資前稅前，從建設(shè)期算起）戒 年 （ 融 資 前 稅 后 ， 從 建 設(shè) 期 算 起 ）， 投 資 報(bào) 酬 率 為 % （ *100%）。項(xiàng)目在計(jì)算期內(nèi)各年癿凈現(xiàn)金流量沒(méi)有出現(xiàn)小二零癿年仹，丏項(xiàng)目具有敥量較大癿盈余資金，項(xiàng)目具有較好癿財(cái)務(wù)生存能力。因此，從總體上看，項(xiàng)目具有較強(qiáng)癿財(cái)務(wù)盈利能力、財(cái)務(wù)生存能力，在財(cái)務(wù)上是可行 40 癿。 戀愛(ài)運(yùn) UP のためみんなも一緒に Let`s 月亭方正！フォ～！ おホモだちの気持ちを今すぐ Flying Get なっし！キャッホ～！ dou 都斗豆逗陡抖痘兜讀蚪竇篼蔸乧侸兠凟剅吺唗投斣枓梪橷毭氀浢瀆瀆瞗窬竇脰艔豆讀逾郖酘酡鈄鋀鈄閗闘阧餖饾斗鬦鬪鬬鬭 du 讀度毒渡堵獨(dú)肚鍍賭睹杜督都犢妒頓蠹篤 嘟瀆櫝牘黷髑芏儥凟剢剫匵厾噣土涂妬嬻剬塅媏彖斷毈瑖碫篅籪緞與腶葮褍踹躖鍛鍴 Mr Najib met search crews at Pearce RAAF base near Perth on Thursday morning, before their planes left for the day, and then later held talks with Mr Abbott. The disappearance of MH370 has tested our collective resolve, he told a news conference. Faced with so little evidence, and such a Herculean task, investigators from Malaysia, the US, the UK, China, Australia and France have worked without pause to reveal the aircraft39。s movements. He thanked both search teams and the Australian government for their efforts in recent weeks, and said the search would go on. Continue reading the main story MH370 Facts at a glance ? 8 March: Malaysia Airlines Kuala LumpurBeijing flight carrying 239 people disappears ? Plane39。s transponder, which municates with ground radar, was switched off as it left Malaysian airspace ? Satellite 39。pings39。 indicate plane was still flying seven hours after satellite contact was lost ? 24 March: Based on new calculations, Malaysian PM says beyond reasonable doubt that plane crashed in southern Indian Ocean with no survivors ? What we know ? The search for flight MH370 I know that until we find the plane, many families cannot start to grieve. I cannot imagine what they must be going through. But I can promise them that we will not give up, he said. 41 Malaysian authorities have e in for heavy criticism over their management of the search, especially from relatives of the plane39。s 153 Chinese passengers. On Thursday, eight military planes and nine ships were due to take part in the search. Weather conditions were fair, with visibility of approximately 10km (6 miles), the Joint Agency Coordination Centre (JACC) which is overseeing the search said. The British submarine HMS Tireless is also in the southern Indian Ocean and is due to be joined by Royal Navy ship HMS Echo. The Australian Navy ship Ocean Shield is heading to the region and has equipment for detecting the plane39。s blackbox flight recorder. Experts say timing is critical as the flight recorder may only have enough battery power to send out a signal until 7 April. Air Chief Marshall Angus Houston, head of the JACC, warned that the search operation faced multiple difficulties. This is one of the most demanding and challenging search and rescue operations, or search and recovery operations, that I have ever seen and I think probably one of the most plex operations of this nature that the world has ever seen,39。39。 he told Mr Najib and Mr Abbott. On Wednesday Malaysian police chief Khalid Abu Bakar said investigators had cleared all passengers of possible involvement in hijacking, sabotage or having personal or psychological problems that could have been connected to the disappearance. But he said that the criminal investigation could go on and on and on. We have to clear every little thing. At the end of the investigations, we may not even know the real cause. We may not even know the reason for this incident, he added. The police chief said that more than 170 interviews had been conducted with family members of the pilots and crew members, and that even cargo and food served on the plane were being investigated in case of dui 對(duì)隊(duì)堆兌敤鐓碓懟憝兊兌垖埻塠奪奪対對(duì)嵟憞懟捶杸濧濻瀢瀩痽磓祋綐膭薱謉譈譵追鈗銳銳錞鎚鐓鐜銳陮隊(duì)頧鴭 42 dul 乧 dun 噸頓蹲墩敤鈍盾囤遁丌躉沌盹鐓礅燉砘伅俊噸墪壿庉忳敤憞撉撴楯橔潡燉犜獤碷腞腯蜳豚踲蹾躉逇遯鈍鐓鐜頓驐 duo 多朵奪舵剁垛跺惰墮掇哆馱度躲踱沲咄鐸裰哚綞亸仛兊兌兌凙刴剟剫吋喥嚉嚲垜埵墮墯夛奪奲媠嫷尮崜嶞憜挅挆捶揣敓 敚敠敪朶雜杕枤柁柂柮桗棰椯橢毲沰沱澤痥硾綞茤袳詑誃貀趓跢跥跿躱軃鄲鄲鈬錞鍺鐸鍺 陀陊隋隋隓飿饳馱駄鬌鮵鵽點(diǎn) e 餓哦額鵝蛾扼俄訛阿遏峨娥惡厄鄂鋨諤堊鍔閼萼苊軛婀莪鱷顎腭愕呃噩鶚屙亞亜亞偽佮侉偔偽偽僫匎匼卾吪呝咢咹啞唖啈啊啐啞惡囐囮埡埡堊堨堮妸妿姶娾娿媕屵岋峉峩崿庵廅悪惡戹搕搤搹擜曷枙椏櫮唉歞歹歺洝涐湂玀珴琧痷皒睋砈砐砨砵硆硪磀礘胺蒍蕚蘁蚅蝁覨 訛咯誐諤譌讍豟軛軶輵迗遌遻邑鈋鋨鍔鑩閜閼阨阸隘頞頟額顎餓餩騀鬲魤?mèng)婘{鰪鱷鴳鵈鵝鵞鶚齃腭齾 青年（せいねん）、技術(shù)（ぎじゅつ）、戀愛(ài)（れんあい）、翡翠（ひすい）、 読書（どくしょ）、人（じん，にん）、幸福（こうふく）、 訓(xùn)讀詞匯： 青い（あおい）、術(shù)（すべ）、戀（こい）、好き（すき）、読む（よむ）、人（ひと）、幸せ（しあわせ）、 漢字 “海 ”可以讀成 “かい ”也可以讀成 “うみ ”。 “かい ”是它的音讀， “うみ ”是它的訓(xùn)讀。 “史 憲 巨 ”等漢字一