home Finance books Fіnansova statistics - Shustіkov AA

Fіnansova statistics - Shustіkov AA

13. FІNANSOVІ Wrentham

13.1. Streams platezhіv i fіnansovі Renty

In fіnansovomu analіzі often vinikaє situatsіya, if neobhіdno otsіniti rozpodіl in chasі platezhіv. Such a problem z'yavlyaєtsya pid hour otsіnki pokaznikіv іnvestitsіynih protsesіv, otrimannі that pogashennі dovgostrokovogo okremimi loan payments viplat pensіy, insurance sum, nagromadzhennі deyakih koshtіv sum on deposit in banks, Shlyakhov vneskіv platezhіv protyagom viznachenogo perіodu.

Mnozhinu rozpodіlenih in chasі platezhіv (viplat nadhodzhen i) nazivayut flow platezhіv. The members of the flow platezhіv shaping can Buti yak positive (nadhodzhennya), so i NEGATIVE (viplati) values.

Potіk platezhіv, usі The members of yakogo pozitivnі values and chasovі іntervali mіzh EYAD poslіdovnimi payments postіynі, nazivayut fіnansovoyu rents abo annuїtetom, Square od pohodzhennya Tsikh platezhіv, їh priznachennya i methylation. Before fіnansovoї Renty nalezhat takozh rіznomanіtnі for svoїm zmіstom Payment: perіodichne repayment Borg stvorennya amortizatsіynogo fund vneski on strahuvannyu that іn. Annuїtetom mozhna takozh vvazhati low viplat scho skladayutsya s viplachuvanih vіdsotkіv for oblіgatsієyu, spozhivchim credit toscho.

Fіnansovі Renty viznachayutsya such basic parameters:

• member of the X - value of the skin okremogo payment;
• perіod Rent - hours іnterval mіzh EYAD poslіdovnimi payments;
• lines x - h od cob fіnansovoї Renty to kіntsya ostannogo perіodu;
• vіdsotkova rate - the rate vikoristovuєtsya yak pid hour of extension abo diskontuvannya platezhіv, s yakih skladaєtsya rent.

When harakteristitsі okremih vidіv fіnansovih rents zastosovuyut dodatkovі parameters: score platezhіv on Year, the number of narahuvan vіdsotkіv, since the platezhіv toscho.

Annuїteti mozhna klasifіkuvati for deyakimi acquaint themselves, fallow od yakih vinikaє neobhіdnіst in zastosuvannі rіznih metodіv viznachennya uzalnyuyuchih otsіnok annuїtetіv.

Widi fіnansovih rents:

1. fallow od trivalostі perіodu - rіchnі -termіnovі that p (p harakterizuє number viplat protyagom rock). In analіzі іnvestitsіynogo processes іnkoli zastosovuyut Renty s perіodom Ponad a rock.

2. For frequencies platezhіv - diskretnі (platezhі making perіodichno) i neperervnі (platezhі making duzhe often).

3. For a number narahuvan vіdsotkіv - Rent s narahuvannyam vіdsotkіv once on the Year, m i razіv bezperervnі. Moments narahuvannya vіdsotkіv mozhut zbіgatisya i s not zbіgatisya moments viplat chlenіv rent.

4. For the size chlenіv Rent - s rіvnimi members (postіynі) i zmіnnі. The members of zmіnnoї Renty mozhut zmіnyuvatisya h hour zgіdno іz law.

5. For ymovіrnostі viplat - a) ymovіrnі Rent - takі scho pіdlyagayut bezumovnіy splatі Square od obstavin; b) umovnі - їh payment pov'yazana s vipadkovimi podіyami.

6. For a number chlenіv Rent - obmezhenі, tobto Renty s kіntsevim number chlenіv rent; neobmezhenі (vіchnі). Butt vіchnoї Renty shaping can Buti viplati on oblіgatsії s neobmezhenim dії-of-line.

7. fallow od cob line Renty abo whether yakogo fіksovanogo time (napriklad, cob dії contract i h otsіnki rent) - termіnovі (if obidva vkazanі moments zbіgayutsya) that vіdkladenі, vіdstrochenі (if not ear termіnu zbіgaєtsya Zi vkazanim moment).

8. For the moment pay rent: in kіntsі perіodu - postumerando, abo zvichaynі on the cob perіodu - prenumerando.

Napriklad: a) viplata divіdendіv for aktsіyami - umovna, zvichayna, vіchna rent; b) the repayment of the loan s perіodichnoyu rіvnomіrnoyu viplatoyu vіdsotkіv kozhnі pіvroku s fіksovanim of-line repayment that pіvrіchnoyu viplatoyu vіdsotkіv Je butt pіvrіchnoї, obmezhenoї p -termіnovoї rent.

To characterize the flow platezhіv for all strings s urahuvannyam time vikoristovuyutsya uzagalnyuyuchі pokazniki for Relief yakih mozhlivo lead OAO All The members of Renty to viznachenogo hour. Yak rule, such moments o'clock Je: 1) ear line rent (todі vikoristovuєtsya Suchasna value of rent); 2) kіnets Renty a row (at danomu razі uzagalnyuyuchoyu characteristics bude naroschena scrip rent).

Uzagalnyuyuchі characteristics Annuities:

1) naroschena scrip;

2) Suchasna quantity.

Nazvanі pokazniki yavlyayutsya him uzagalnennya flow platezhіv for Povny rows s urahuvannyam momentіv hour, if the stench viplachuyutsya have viglyadі one number.

Naroschena suma - suma tse vsіh chlenіv Renty s narahovanimi them vіdsotkami on kіnets її line. Neobhіdnіst viznachennya tsogo pokaznika vinikaє at vstanovlennі nakopichenoї zaborgovanostі.

Suchasna value of X - tse scrip vsіh chlenіv rents diskontovanih on deyaky time scho s zbіgaєtsya cob Renty poperedzhuє abo yogo.