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Іnvestuvannya - Peresada AA

6.3. Rozrahunki in іnvestitsіynіy sferі

Fіnansovo-kreditnі vіdnosini mіzh sub'єktami іnvestitsіynoї dіyalnostі stanovlyat vazhlivu organіzatsіyno legal form regulyuvannya іnvestitsіynogo processes. Tsі vіdnosini vinikayut market analysis for drain s drive mobіlіzatsії penny resursіv, neobhіdnih for zdіysnennya іnvestitsіynih proektіv.

Fіnansove zabezpechennya proektіv Mauger zdіysnyuvatisya on bezpovorotnіy chi povorotnіy osnovі. Fіnansuvannya on bezpovorotnіy osnovі - tse nadannya penny koshtіv (zdіysnennya vitrat) rіznimi іnvestorami on neviznacheny hour at spodіvannі on otrimannya od realіzatsії project maybutnomu dohodіv, SSMSC pokriyut s pributkom tsі vitrati. Fіnansuvannya on povorotnіy osnovі - tse nadannya іnvestorom penny koshtіv on Pevnyi hour іz zobov'yazannyam rotate їh obumovlenogo to row z vіdsotkami.

In Persha metodі Jerel fіnansuvannya Je byudzhetnі asignuvannya, derzhavnі subsidії, Costa pozabyudzhetnih fondіv, vlasnі Costa іnvestorіv and takozh zaluchenі them Costa (fіnansuvannya for rakhunok aktsіy Key infrastructure). In another metodі vikoristovuєtsya natsіonalny credit, loans and credit mіzhnarodnih fіnansovo іnstitutіv, komertsіynih bankіv that іnshih fіnansovo CREDIT setup.

Dedalі bіlshogo values ​​yak Dzherelo fіnansuvannya carols INSHI pozichkovі Costa: komertsіyny credit іpotechnі pozichki, Credit spіlok Costa, Costa od Key infrastructure th oblіgatsіy sale, Costa od lіzingovih that factoring operatsіy.

The basic principle of a credit-fіnansovo vіdnosin mіzh sub'єktami іnvestitsіynoї dіyalnostі Je dogovіrny, direct, tsіlovy i bezperervny character fіnansuvannya principle vzaєmnogo fіnansovogo control.

Fіnansuvannya proektіv zdіysnyuєtsya on osnovі dogovorіv (kontraktіv) on mіrі їh vikonannya. Vіdpovіdno to tsogo principle payment robіt chi poslug held pіslya їh vikonannya in tsіlomu abo on mіrі prohodzhennya okremih etapіv. Design and Robot doslіdnitskі zvichayno oplachuyutsya abo for the project in tsіlomu, abo for vikonanu design koshtorisnu the documentation, neobhіdnu for Persha rock budіvnitstva. Budіvelno-montazhnі robots mozhut oplachuvatis: for ob'єkt in tsіlomu for okremy constructively Etap (napriklad, nulovy cycle), ground Chastain, oporyadzhuvalnі robots. Together s note of minds іnflyatsії rozrahunki mozhut provoditis pomіsyachno for factuality vikonany obsyag budіvelno and assembly robіt. Tehnologіchne ustatkuvannya Mauger oplachuvatis abo yogo pіslya komplektnoї deliveries and for direct contracts - pіslya yogo th assembly of complex oprobovuvannya, abo yogo for mіrі nadhodzhennya on Budova.

Straight st tsіlovy character fіnansuvannya zumovlyuyut nadhodzhennya koshtіv bezposeredno zamovniku i tіlki on the ob'єkt for sporudzhennya yakogo peredbachenі stench.

Ritmіchnіst th bezperervnіst budіvelnogo virobnitstva vimagayut bezperervnostі i yogo fіnansuvannya, svoєchasnoї Pay vikonanih robіt.

Fіnansovy control tsіlovim i ratsіonalnim vikoristannyam vidіlenih koshtіv zdіysnyuєtsya fallow od FORMS vlasnostі іnvestora that zaluchenih Jerel fіnansuvannya project. Napriklad under budgetary control asignuvannyah fіnansovy zdіysnyuyut derzhavnі organic fіnansovo gospodarskogo-control, when dovgostrokovomu kreditі - komertsіynі banks. Control vikoristannya Vlasnyi i zaluchenih koshtіv іnvestora zdіysnyuєtsya him samostіyno abo, abo on dogovіrnіy osnovі іnzhinіringovoyu fіrmoyu chi komertsіynim bank.

Fіnansove zabezpechennya іnvestitsіynogo processes - tse, on sutі, fіnansіv fate in vіdtvorennі main kapіtalu. In ekonomіchnіy teorії rozvinutih kraїn rozrіznyayutsya ponyattya fіnansuvannya that іnvestuvannya.

Process viznachennya Jerel i vidіlennya (zaluchennya pozichki) Penny koshtіv for іnvestitsіy zvetsya fіnansuvannyam. Process vikoristannya penny koshtіv yak dovgostrokovih vkladen oznachaє іnvestuvannya, tobto fіnansuvannya pereduє іnvestuvannyu (Fig. 6.3).

Fig. 6.3. Driving incremental kapіtalu

Pіslya Poshuk Jerel fіnansuvannya i viznachennya structure decorated dogovorіv fіnansuvannya (loan agreement) pochinaєtsya processes іnvestuvannya, tobto peretvorennya groshovoї FORMS kapіtalu on productivity. Potіm kapіtal in protsesі obіgu pochinaє prinositi dohіd in viglyadі penny potokіv (pributku th amortizatsії) i chastkovo vivіlnyatisya (via lіkvіdnіst) popovnyuyuchi note by vlasnі dzherela fіnansuvannya.

Krіm pributku th amortizatsії to Vlasnyi Jerel fіnansuvannya priynyato vіdnositi mobіlіzatsіyu vnutrіshnіh resursіv (MBP). When pіdryadnomu sposobі budіvnitstva to them nalezhat Costa od realіzatsії ustatkuvannya scho vibuvaє, nepotrіbnih materіalіv, іnstrumentu, іnventaryu; Costa od lіkvіdatsії timchasovih budinkіv i sporud, realіzatsії korisnih Kopalin scho passing vidobuvayutsya (for vinyatkom vitrat on їh realіzatsії). When gospodarskomu sposobі budіvnitstva to MBP nalezhat planovі nakopichennya ekonomіya th od znizhennya sobіvartostі budіvelno and assembly robіt, depreciation on zasobah pratsі scho vikoristovuyutsya in budіvnitstvі.

Reigning Fіnansuvannya Budova zdіysnyuvatis Mauger yak at pіdryadnomu so i gospodarskomu sposobі for rakhunok rіznih Jerel.

When Povny abo chastkovomu fіnansuvannі for rakhunok budgetary asignuvan for registration fіnansuvannya neobhіdna rozrobka such dokumentіv: Plan kapіtalnogo budіvnitstva, fіnansuvannya plan perelіk Budova i ob'єktіv included to the sovereign of order (contract), the title list Budova, pіdryadny contract budіvnitstvo i kopії Institution koshtorisnogo rozrahunku. Fіnansuvannya such Budova zdіysnyuєtsya Bank pіslya Sanitary and Epidemiological representation іnvestorom (zamovnikom) vkazanih dokumentіv i zatverdzhenoї design koshtorisnoї dokumentatsії.

Fіnansuvannya for rakhunok budgetary asignuvan Budova, scho zdіysnyuyutsya gospodarskim manner not potrebuє pіdryadnogo submission of the contract, the bank ale Mauger vimagati dogovіr s Design organіzatsієyu to pay for her vikonanih robіt.

Pіslya decorated fіnansuvannya Bank vіdkrivaє іnvestoru (zamovniku) okremy rakhunok, s yakogo zdіysnyuєtsya payment vikonanih robіt, pridbannya ustatkuvannya th іnshih vitrat zgіdno іz Institution koshtorisnim rozrahunkom.

When fіnansuvannі budіvnitstva Reigning ob'єktіv mozhut zaluchatisya th INSHI dzherela: vlasnі Costa of companies, credit bankіv, pozichki toscho.

Vazhlivim Jerel fіnansuvannya Je credit, scho nadaєtsya іnvestorom, Square od forms vlasnostі for zdіysnennya real іnvestitsіy. Yak usually Tse dovgostrokovy (row Ponad 1 Year) loan, yaky Mauger nadavatisya komertsіynimi banks in dogovіrnih ambushes, power (natsіonalny credit) s koshtіv Derzhbyudzhetu i Natsіonalnim bank for rakhunok central credit resursіv, komertsіynogo loan іpotechnih pozichok, lіzingovih operatsіy.

Basics vzaєmovіdnosin іnvestora th bank (іnshogo kreditodavtsya) Je Credit dogovіr Where Money Does obumovlyuyutsya rozmіr credit, scho nadaєtsya, yogo zabezpechenіst, garantії Povernennya, line yogo vikoristannya, Mainova vіdpovіdalnіst storіn.

Ukladennyu credit agreement pereduє representation pozichalnikom number dokumentіv in yakih obґruntovuєtsya required in kreditі pid іnvestitsіyny project. Zvichayno required in kreditі viznachaєtsya yak rіznitsya mіzh zagalnim obsyagom іnvestitsіy th Vlasnyi i zaluchenimi resources. Ale i mozhlive Povny fіnansove zabezpechennya Project Loan rakhunok. Otzhe, nadannyu credit pereduє otsіnka Bank kreditospromozhnostі pozichalnika samostіyno abo, abo, for yogo doruchennyam, auditorskoyu fіrmoyu.

Reigning credit vikoristovuєtsya іnvestorami tіlki for fіnansuvannya rekonstruktsіy, tehnіchnogo pereozbroєnnya i new budіvnitstva virobnichih ob'єktіv pid garantіyu mіnіsterstv i vіdomstv. Loans for rakhunok tsentralіzovanih resursіv Natsіonalnogo bank nadayutsya on pіdstavі rіshen Verkhovna Rada of Ukraine tіlki Reigning pіdpriєmstvam i tіlki on tsіlovі prog s vprovadzhennya novih tehnologіy, modernіzatsії virobnitstva, rozshirennya Key infrastructure tovarіv national spozhivannya.

Nablizhaєtsya to such a loan in the form rozrahunkіv іnvestitsіynіy sferі, lіzing yak, scho yavlyaє him dovgostrokovu Orenda okremih vidіv machines that ustatkuvannya, virobnicho-tehnіchnih kompleksіv, іnshogo lane. On vіdmіnu od potochnoї Orenda, at lіzingu shaping can Braty fate of three abo bіlshe sub'єktіv lands: postachalnik (virobnik obladnannya) lіzingodavets (Bank chi lіzingova kompaniia) lіzingooderzhuvach (orendator).

Lіzingova operatsіya zdіysnyuєtsya in takіy poslіdovnostі. Lіzingoderzhuvach znahodit fіrmu, scho abo vigotovlyaє prodaє neobhіdne Yomou obladnannya, vivchaє yogo minds of Quality is the sale. Potіm have razі vіdpovіdnostі obladnannya vimogam Svoge virobnitstva, vіn zvertaєtsya to bank abo lіzingovoї kompanії s propozitsієyu pridbati tse obladnannya in virobnika (Seller) s metoyu podalshoї peredachі Yomou at Orenda minds.

Rozrіznyayut fіnansovy (kapіtalny) is the operational (servіsny) lіzing. Fіnansovy lіzing harakterizuєtsya tim, scho dogovіr ukladaєtsya row, scho dorіvnyuє amortizatsіynomu perіodu machines that ustatkuvannya. Yak usually lіzingooderzhuvach in kіntsі string peredbachenogo land, vikupovuє all Maini lіzingovoї kompanії that ukladaє s about her sake Orenda lane tsogo.

Operational lіzing on vіdmіnu od fіnansovogo, peredbachaє bagatorazovu zmіnu lіzingooderzhuvacha prodovzh line service machines abo obladnannya. Ob'єktom operatsіynogo lіzingu Yea, yak Typically, the machine that ustatkuvannya scho Shvydko moral i fіzichno zastarіvayut. Lіzingodavets zvichayno himself zdіysnyuє repair i tehnіchne obslugovuvannya, otrimuyuchi at all tsomu scrip amortizatsіynih vіdrahuvan od lіzingooderzhuvacha.

So rank, lіzing - tse spetsifіchna form zaluchennya virobnichogo kapіtalu for yakoї lіzingodavets kredituє lіzingooderzhuvacha. Postachalnik oderzhuє lane one-time fee for Demba that odnochasno od lіzingovoї kompanії abo bank vіdrazu pіslya ukladannya lands at abo rozstrochku. Nerіdko funktsії lіzingodavtsya vikonuyut takozh strahovі kompanії that іnvestitsіynі funds. Factuality fіnansovy lіzing - tse sposіb kapіtalіzatsії іnvestitsіy, tobto sposіb zaluchennya kapіtalu. Saying to Іnakshe, tse-form materіalno tehnіchnogo postachannya s odnochasnim kredituvannyam th Orenda.

Іnodі lіzingodavets vіdpovіdno lands contract to zobov'yazany nadavati i konsultatsіynі Hotel s vikoristannya building in Orenda tehnіchnih zasobіv. In danomu razі lіzingova kompaniia Je not tіlki Passive kreditodavtsem, ale th vikonuє funktsії obslugovuvannya that control over vikoristannyam building in Orenda lane. According zavershennі lіzingovoї lands ob'єkt lіzingu povertaєtsya lіzingooderzhuvachem lіzingodavtsyu abo prodovzhuєtsya contract out yogo Orenda, Abo Mein orendovane vikupaєtsya orendatorom for zalishkovoyu vartіstyu in lіzingodavtsya.

Od fallow lands Especially completion lіzingovoї rozrіznyayut takі FORMS lіzingovogo contract:

• without the right to lands that podovzhennya line pridbannya Lane;
• s redemption rights Lane;
• s right podovzhennya line lands on Orenda lane.

Yakscho in lіzingovіy ugodі take kіlka sub'єktіv fate, then, yak usually oformlyuyutsya kontraktnі lands mіzh lіzingooderzhuvachem i lіzingodavtsem, mіzh postachalnikom lіzingodavtsem lane i, i mіzh lіzingodavtsem Credit install.

In zagalnomu viglyadі contract s lіzingu, zazvichay, vstanovlyuє takі minds ukladennya lands: ob'єkt lіzingu; Yogo supply line; trivalіst Orenda; Mainova right vlasnostі lіzingodavtsіv on ob'єkt lіzingu; Minds ekspluatatsії (vikoristannya) ob'єkta lіzingu; mozhlivі riziki, zbitki, repair i tehobslugovuvannya; vіdpovіdalnіst; osoblivostі strahuvannya; lіzingovі INSHI platezhі that, penalties have razі їh stitched; mozhlivіst i peredumovi pripinennya lands that Povernennya orendodavtsyu Lane; zalishkova vartіst orendovanogo Lane; sub'єktіv lіzingu rights; Method z'yasuvannya superechok them; nadannya garantіy (napriklad, bank); neobhіdnіst in dodatkovіy Informácie that line її nadannya lіzingooderzhuvachem (napriklad, buhgalterska zvіtnіst); Address, fіrm - sub'єktіv land; zaznachennya pravospadkoєmtsіv realіzatsії minds that their rights schodo lіzingu toscho.

Zarubіzhna practice real lіzingovih іnvestitsіy svіdchit about dotsіlnіst wide vikoristannya at tsіy formі іnvestuvannya Sistemi rіznomanіtnih pіlg scho stimulyuyut іnvestitsіyny lіzing yak at rozrіzі regіonіv, so i for specific areas dіyalnostі i Galuzo Economy, Especially zaohochuyuchi lіzing in Galuzo Zi digit vіdstavannyam tehnіchnoї bazi od svіtovogo ( abo serednogo on kraїnі) rіvnya and takozh in quiet, scho Especially vipuskayut vazhlivu, tehnіchno folding produktsіyu, neobhіdnі goods spozhivannya.