青島啤酒集團(tuán)財(cái)務(wù)管理培訓(xùn)資料

財(cái)務(wù)管理基礎(chǔ)培訓(xùn)2002.05.10青島啤酒思騰思特管理咨詢（中國(guó)）公司SternStewart&Co.Allrightsreserved.Nopartofthispresentationmaybereproducedortransmittedinanyformorbyanymeans,electronicormechanical,includingphotocopying,recording,oranyinformationstorageandretrievalsystem,withoutthewrittenpermissionofSternStewart&Co.版權(quán)所有。沒(méi)有思騰思特管理咨詢公司的書(shū)面允許，任何公司和個(gè)人不得以任何形式翻錄、復(fù)制、傳播、本講義中的內(nèi)容。EVA?isaregisteredtrademarkofSternStewart&Co.EVA?

是思騰思特管理咨詢公司的注冊(cè)商標(biāo)。今日議程財(cái)務(wù)部門角色和功能定位

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ì)涂機(jī)醬制財(cái)筍務(wù)曬、福管口理稻知濤識(shí)樓培堂訓(xùn)E怖V商A計(jì)皂算暈簡(jiǎn)瓜化洗示配意抱圖銷請(qǐng)售惕收旋入棄1訴，冶0裂0決0生犬產(chǎn)衣成攝本序5跨0芳0銷毅售頂/際管具理肢費(fèi)厘用向＊鈴2擊0全0Ｅ逗Ｖ邀Ａ灣調(diào)憑整+涼1符0著0營(yíng)敞運(yùn)閣所激得該稅1兩0木0①跑N壤O攜P收A蘋T賄（稅座后云凈膝營(yíng)敢業(yè)狗利裙?jié)櫪睿┝_3掛0確0調(diào)縣整誼后北資賊本1瀉5朱0息0資菌本稻成回本爭(zhēng)率1鄉(xiāng)豐5犯%②資護(hù)本摘使站用鄙成獅本2賤2吉5①–②攝＝Ｅ畏Ｖ球Ａ爺7辱5–=–+/–x=–損益表科目資產(chǎn)負(fù)債表科目E記V姓A辰=掌N晶O裂P懂A摩T（階稅滔后譜凈賠營(yíng)讀業(yè)漫利誕潤(rùn)杯）–資依本變使短用慌成癢本N切O別P旗A危T的鑼計(jì)培算艷（廳對(duì)姜損昆益歐表殺的銅調(diào)標(biāo)整芝）會(huì)球計(jì)中凈韻利壺潤(rùn)E象V摘A的N呆O翼P踩A亞T銷汪售艘收立入-翁銷掏售圾折蒜扣-仰營(yíng)銜業(yè)惑稅吸金未及朝附俊加-該銷廳售保成扛本+嫂其租他夏業(yè)閘務(wù)句收茫入-醉存種貨六跌濤價(jià)救準(zhǔn)砍備朗增峰加-斯管迷理聞費(fèi)李用-主銷幼售講費(fèi)準(zhǔn)用財(cái)帆務(wù)揉費(fèi)筐用+筆投鏟資烘收溫益+填營(yíng)岔業(yè)津外蜘收穩(wěn)入/支獻(xiàn)出+補(bǔ)抽貼嫁收劉入-浴所耗得甘稅-少皇數(shù)中股咬東計(jì)權(quán)看益銷出售躬收粗入-沒(méi)銷怠售和折兆扣-恒營(yíng)護(hù)業(yè)倘稅槽金視及港附奪加-至銷肝售善成棚本+項(xiàng)其雅他喚業(yè)勇務(wù)歸收之入+邀會(huì)相計(jì)翁準(zhǔn)份備乏增描加-堵管劣理獵費(fèi)蒸用銷補(bǔ)售在費(fèi)顯用財(cái)鞏務(wù)惱費(fèi)法用溜中揮與頁(yè)營(yíng)山運(yùn)仿有嚼關(guān)營(yíng)的-棍其籃他爺長(zhǎng)榜期頌負(fù)臂債懷隱互含濕利蓋息+站投賺資睜收愈益-佳E常V號(hào)A稅資鍵本掏計(jì)低算掃：都看霜待扒資株本塵的多兩棍個(gè)遲角匹度股贊東韻權(quán)移益（股恥東）凈濫流劑動(dòng)瘡資度產(chǎn)=債務(wù)（債權(quán)人）資本的來(lái)源有形固定資產(chǎn)資本的使用其它資產(chǎn)（如商譽(yù)等）股東收益（股東）凈營(yíng)運(yùn)資產(chǎn)資傳本鼓的攝計(jì)劃算滔（艙融佛資版的傳角步度鼻）資齡產(chǎn)柳負(fù)竿債分表盈中浸的細(xì)資爭(zhēng)本計(jì)忠算E踩V披A的迅資侄本短著期坑借武款一碰年拉內(nèi)夾到示期挺長(zhǎng)抓期襖借往款無(wú)趙息盼短豬期佩負(fù)通債長(zhǎng)辰期瞧負(fù)探債丙合畏計(jì)少指數(shù)瓦股冰東倉(cāng)權(quán)姓益股擦東蛙權(quán)率益短伯期科借習(xí)款一貪年知內(nèi)飛到童期層長(zhǎng)需期鋤借恰款長(zhǎng)綢期辱負(fù)殊債誓合剝計(jì)少獵數(shù)羨股中東換權(quán)絲式益股哄東賽權(quán)遷益-記累奏積緩稅據(jù)后劉營(yíng)們業(yè)概外詠收艦支-灣累照積混稅騰后景補(bǔ)慮貼勁收聚入+會(huì)感計(jì)桃準(zhǔn)建備-陰盈扔余繩現(xiàn)押金注背：詢從粉營(yíng)悼運(yùn)瓜的躁角勁度真來(lái)怎看匙，E騎V乘A資夾本殘的妻計(jì)叮算再如刃下逃：緩資啄本=流抹動(dòng)勤資其產(chǎn)-無(wú)轎息秘流塑動(dòng)州負(fù)姐債+固水定生資授產(chǎn)活凈繩值+長(zhǎng)敵期丘投妹資+其貌他購(gòu)長(zhǎng)屆期雞資限產(chǎn)-盈寬余扒現(xiàn)榜金+當(dāng)蔥年誘會(huì)屈計(jì)拴準(zhǔn)叛備憑增處加昏額+累驚計(jì)凍稅仰后蠟營(yíng)明業(yè)糕外倚收局支/補(bǔ)可貼存收倍入資夾本即成費(fèi)本濟(jì)計(jì)辮算債決務(wù)股垮權(quán)加攜權(quán)玩資炕本胞成勵(lì)本（醉即疼期勻望縱資鍛本黑回集報(bào)駱率雜）（W招A住C杜C)資鑰本稅廣后麗債遺務(wù)林成天本股滴權(quán)聯(lián)成患本債回務(wù)悔成擱本汁計(jì)首算公雞司鉤舉險(xiǎn)債紫時(shí)蟻付蹦出際的趙利升息指成且本鐘，蔬即偷為維債伏務(wù)嘴成護(hù)本在均計(jì)鹿算悄公巷司第所爪得晴稅繞時(shí)棵，肝利休息俗應(yīng)銷從獵經(jīng)恥營(yíng)箱利撇潤(rùn)嬌中濁扣貓出境，栗即庭利疑息駐成肅本束是獨(dú)免寧稅奸的貸，技因算此怠公艱司翻的碑稅農(nóng)后帝債灘務(wù)背成就本古，帳低易于因利伯息霞率如一企業(yè)舉債利息為6%，其所得稅率為33%則實(shí)際債務(wù)成本為：稅前債務(wù)成本 6%（1-稅率33%） 67%稅后（實(shí)際）債務(wù)成本4%青凡島教啤氏酒哨債擇權(quán)微資魂本路成隙本司率橫的朱計(jì)湊算1絞9普9賠7釋1排9遣9嫌8斯1萌9禽9辮9擋2付0派0期0抱2兇0應(yīng)0迅1債藏權(quán)熟成寫本（趁稅所前逐）9下.肅9匯0濟(jì)%媽7目.駝2績(jī)0攜%纏6洗.例0針3描%娘6呼.者0香3渠%舊6浴.弓0務(wù)3均%債扁務(wù)山比繁例2光1抱.閉2穩(wěn)4第%糠2著5搬.肥2駝7將%福2塑4嘆.懶1秤7部%犧3觀0弱.覺(jué)3歲4責(zé)%益3拖3贈(zèng).敗5痕7既%目?jī)€前加采筋用下方蒜法壩：左債棵務(wù)蘇成編本舒采爺取伏3模-編5倚年墳中稠長(zhǎng)朽期道貸噸款表基滴準(zhǔn)毛利獵率其州它負(fù)推董薦條使國(guó)用槍方合法選：弦3曾-厲5談年由中州長(zhǎng)俗期淺貸老款涉基寧準(zhǔn)露利欲率額下泳調(diào)如一彩定地幅蜓度混（征下視調(diào)仿原帳因招：義青既島決啤春酒猾的路貸接款扇信匹譽(yù)弊好票于趨同析行層業(yè)腿企悅業(yè)怨，岔實(shí)馳際郊貸爭(zhēng)款述利貢率維低晉于祝3杏-濟(jì)5屆年孕中口長(zhǎng)懇期傍貸歐款本基衰準(zhǔn)拖利額率識(shí)約5送%）債際務(wù)甜比梁例塘：岡債刮務(wù)冤資宿本鵝總贈(zèng)值翅與蜘公捧司忙總仙市罪值典（有債恢務(wù)憐市愈值催和蓋權(quán)米益幼資龍本供市保值唉的隱和營(yíng)）駁的慈比墳例股宮權(quán)所成瘡本樹(shù)計(jì)許算股網(wǎng)權(quán)稀成守本霸是項(xiàng)一爭(zhēng)項(xiàng)霸機(jī)獻(xiàn)會(huì)塊成往本肝，仁等犁于歌投會(huì)資糊者晌可張以善在咐其留他屋類震似椅風(fēng)雪險(xiǎn)制投肝資宿中起取厚得揪的怪回督報(bào)塵率“回禁報(bào)盟率瞇”竿的通定端義的是輩股的息奧分舅紅略加宏股槍價(jià)習(xí)變祥化榜值“明風(fēng)肢險(xiǎn)篩”品指輪的接是漠回脖報(bào)騰率坐的觸變們化帝情遙況一悉個(gè)雷企則業(yè)家的哥風(fēng)紋險(xiǎn)鬧由妥三林個(gè)餃因渾素類構(gòu)賽成銅：吵國(guó)胳家速風(fēng)漁險(xiǎn)遠(yuǎn)、惜行央業(yè)題風(fēng)猾險(xiǎn)稍、挺企灰業(yè)緒風(fēng)精險(xiǎn)股砍權(quán)脖成璃本房誠(chéng)計(jì)槐算疑資詠本模資花產(chǎn)刊定緩價(jià)津模際型洪（C明A禍P杯M例）資叨本井資爐產(chǎn)處定束價(jià)珠模艙型停：股縮慧本揉資探本際成扶本晃率驗(yàn)（R解e）=無(wú)籠風(fēng)暑險(xiǎn)不收德益撒率少（R垮f）+妙B妙E鎖T示A系病數(shù)×市陽(yáng)場(chǎng)指風(fēng)害險(xiǎn)勾溢靠?jī)r(jià)(就M森R點(diǎn)P秒)Re：股后權(quán)竟成斧本Rf：零筋風(fēng)果險(xiǎn)矛回脫報(bào)慨率B填e玻t唉a橋：企靠業(yè)撥股錘票闖的斑系熱統(tǒng)兆風(fēng)弊險(xiǎn)胸指哄數(shù)綠，驢即性單境個(gè)刺公斜司究股診價(jià)閘的伶變借動(dòng)補(bǔ)率炒與市肝場(chǎng)挑投猴資徑組袖合賺回逢報(bào)蠶風(fēng)如險(xiǎn)浸的死衡償量輛值M哥R斯P瓦：市暮場(chǎng)亦預(yù)爺期屬回閣報(bào)流率平溢帽值察，錘即串風(fēng)詳險(xiǎn)秩溢丘價(jià)股富權(quán)余成狐本惑：進(jìn)風(fēng)誘險(xiǎn)森和喪回恨報(bào)砍之稈間事的易關(guān)誕系零風(fēng)險(xiǎn)回報(bào)率回報(bào)率期望資本回報(bào)率風(fēng)險(xiǎn)溢價(jià)風(fēng)險(xiǎn)★M老R丹P匙(風(fēng)濟(jì)險(xiǎn)純溢榜價(jià)咸)串為予長(zhǎng)躬期當(dāng)?shù)牡构珊掀泵钅晷灯綉椌r市字場(chǎng)鍛收毯益厲率蓬與料長(zhǎng)霞期論國(guó)刊債物的答年尤平辯均洽收紫益廊率澤之規(guī)差暈，座由坡于反中倡國(guó)務(wù)股元市毒存豈續(xù)球時(shí)碌間模短箏，昌國(guó)偽內(nèi)沾投倆資淺渠蒼道邁有領(lǐng)限賊等俱原歐因足導(dǎo)陡致畜收坑益申率代偏齒高鋸，謎我贏們用建塞議朱不同直勁接圈利風(fēng)用陜國(guó)修內(nèi)驅(qū)股抵市同收陡益威率賴與逝國(guó)仁債昏收脈益島率栗之瓣差習(xí)計(jì)糕算遇市本場(chǎng)藥風(fēng)喂險(xiǎn)易溢雙價(jià)茂，鞠而華是饞利伴用體下利面虎的鳥(niǎo)公餅式們：美盒國(guó)墨的短市辨場(chǎng)橫風(fēng)勝險(xiǎn)撤溢桑價(jià)X嘉（中莖國(guó)族股削市靈收水益糊標(biāo)益準(zhǔn)武差煮/稀中枝國(guó)陣股做市薪平柏均校收屆益別率踏）彼/裹（汪美攏國(guó)珠股播市點(diǎn)收省益稅標(biāo)歪準(zhǔn)錘差瓣/雹美柳國(guó)桃股歐市待平多均寬收區(qū)益友率自）青棚島丟啤譯酒田股鄰權(quán)紛資威本剃成取本攪率淚的液計(jì)殿算R急f（蟲(chóng)無(wú)茫風(fēng)綢險(xiǎn)鬧收舅益濁率框）巾：懷取辭當(dāng)熔年貼在攜上分海餓證懼交險(xiǎn)所蘋發(fā)犬行還的1叔0年瞞期令國(guó)研債根的墊年豆收瞇益手率2）B謎e眾t插a：添青揪啤鏟在2銅0荒0鼓1年樹(shù)底置有1懂0濾0周桐的傾行腳情步數(shù)屈據(jù)柄，拍使鐮用1紙0率0周領(lǐng)青顛啤壩股陽(yáng)票隔的棟周呢收抖益柱率啊與慮相侵對(duì)難應(yīng)歉的須股抗票摸指峽數(shù)絕的許周故收遺益俘率戴的春線島性蛾回句歸透得辦出旅的堵斜戴率錦。A股糊股壇權(quán)退成規(guī)本哭率會(huì)計(jì)沫算H股怪股紙權(quán)蜘成寺本侵率眼計(jì)陳算R亭f（爆無(wú)棕風(fēng)碰險(xiǎn)跌收扶益套率?。┪浚合?zāi)當(dāng)吳年汽中熱國(guó)逝在膏美宏國(guó)以市做場(chǎng)癢上白發(fā)芒行樸的1哪0年靠期導(dǎo)美肯元陣國(guó)據(jù)債錄的會(huì)年注收澆益決率2）B該e甜t析a適:直派接葉采賤用B哭l困o晉o量m藝b蓬e咳r夾g計(jì)養(yǎng)算曾的穩(wěn)青煙啤易在H股蜓市北場(chǎng)們上虛的B由e葉t學(xué)a值1芽9汁9需8盈1決9勸9年9膠2滅0網(wǎng)0蝦0鵝2腸0痛0筐1R從f4形.狠9之0秧%堵3懂.進(jìn)2徒0連%么3拼.可4若0喘%扮2贊.死9存0死%B牢e清t繪a礦0愛(ài).就9提2趨1蹲.伐1塘3偉1炸.窄0盒9駝1由.起0持2M爆R邀P折6據(jù)%銅6戒%依6沙%膚6傍%R漢e衣1程0腔.喊4促3她%芒9帶.診9但7添%煌9協(xié).慌9飄2嘩%晶9乘.捷0賓5土%比鑰率滲6決7答.盛8轟9汁%另6亮3橫.扔5語(yǔ)5外%飼6府3況.距2碧4投%姿5毯8兔.開(kāi)3擾3完%1縫9誕9運(yùn)8團(tuán)1懷9第9虹9甚2蜂0因0們0封2融0葬0鋸1R蔑f7聚.孫1息0趙%朋7橫.仆6招0撫%密7孝.應(yīng)7已0撇%7闖.只7狗0綁%B迅e紐奉t叫a刪0移.畫7莫5楊0資.齊8陰0加0愚.臭4廢4布0租.塵4創(chuàng)4M譽(yù)R盡P揮6淘%蓄6休%姻6懲%悲6芽%R鳳e偉1安1危.廚6蜻0忠%搶1啟2蠅.串4專0第%占1待0臟.珍3廣4徑%沉1己0找.婚3時(shí)4病%比愧率廟6撞.洗8接4電%邁1緩2夾.京2料8濃%霧6返.鬼4役2棍%乞8且.植1狂0團(tuán)%注遷：似權(quán)昆益夾比愈例稱采械用盡權(quán)頭益通資吉本泰總松值溜與貌公報(bào)司傭總斜市辟值補(bǔ)（痰債粥務(wù)課市基值搬和房誠(chéng)權(quán)欣益攻資午本外市秧值濱的南和簡(jiǎn)）掌的反比筒例青婦島肢啤肢酒壩的甩資鈴本令成吃本掏率概的鑰計(jì)誤算青驚啤覺(jué)的握加猶權(quán)慶資只本仙成魂本希率=幅A股遮股幸權(quán)銅資凍本醒成毀本鳴率x圖A股組權(quán)沃益虜比會(huì)例+喬H股烈股洪權(quán)黑資殲本幸成溝本菜率x站H股穗權(quán)灶益侍比匪例+債串權(quán)液資抄本懶成救本愿率x（1量-稅香率鉛）x債材務(wù)芳比遭例1嗓9鐵9享8漫1咐9哲9飲9絲式2啟0舒0軍0構(gòu)2片0銷0咐1資踩本薄成松本涼率9耍.摸4賭2桐%剛9蔽.俊1若0圈%遼8征.頃4頓9缸%慰7父.欣8節(jié)4迷%E蒸V蹤蝶A調(diào)垮整危的撞目擊的取及宅原被則會(huì)彎計(jì)外體膠系E件V虜A體灘系目破的將乏會(huì)您計(jì)會(huì)結(jié)坐果刊轉(zhuǎn)檔化渠成倦經(jīng)啞濟(jì)躁結(jié)嫁果崇，碼降拐低精會(huì)僅計(jì)階扭斜曲布，腫反咽映則經(jīng)企濟(jì)惰現(xiàn)根實(shí)鳴；芒鼓員勵(lì)虎正冶確宜的肯經(jīng)局營(yíng)脖決剛策原顆則8殊0桃/沿2杠0饒?jiān)_(kāi)則桑；亂是簡(jiǎn)否句影踩響費(fèi)經(jīng)爪理毛人沒(méi)和鏈員妻工濕的或行區(qū)為四愿類爛主篩要高調(diào)頃整現(xiàn)套金晝科獨(dú)目逝到經(jīng)趣濟(jì)仙概勾念非衫經(jīng)猶常頃項(xiàng)補(bǔ)目沖手銷驢計(jì)鑰提明到現(xiàn)愈金筒標(biāo)所準(zhǔn)營(yíng)猶業(yè)壓外祥收旺支會(huì)持計(jì)葵制敲度柱下平一獎(jiǎng)些薦現(xiàn)最金菌成哄本熱被經(jīng)視玩為圣期沃間御費(fèi)英用啟，E薄V荷A則侍視尚其腦為寨投盆資旺，踩需釀若期干旦年搜攤值銷研騎發(fā)衡費(fèi)襲用朽、目培澆訓(xùn)贈(zèng)費(fèi)悼用統(tǒng)和益營(yíng)饅銷援費(fèi)芝用強(qiáng)疏調(diào)悲實(shí)嚼際尸現(xiàn)立金布資牲本青變作動(dòng)創(chuàng)情擠況牧，急淡塑化棒單煙純?nèi)簳?huì)究計(jì)制沖虧銷兆計(jì)笨提酒事犬件壞撲帳破準(zhǔn)存?zhèn)鋷?、薯商縣譽(yù)糖攤根銷非稱經(jīng)源常州項(xiàng)純目挽通帆常摟扭創(chuàng)曲缺公愛(ài)司延業(yè)古績(jī)招，E癥V所A將戒其視資塞本延化撫處花理資開(kāi)產(chǎn)私出赤售主燃營(yíng)圓業(yè)與務(wù)川以續(xù)外昨收陪支最不毅影垃響題公然司致長(zhǎng)坦期京價(jià)站值賊變子化證絨券摟交句易撲收線益俱、舊損害失如如如如對(duì)竿某彩個(gè)限公繼司況而捧言豈相州關(guān)狗的辜調(diào)差整可間能王要年做不的E再V狗A調(diào)高整對(duì)撈某時(shí)個(gè)寸公樸司取而陽(yáng)言E初V全A調(diào)曾整什的盟重古點(diǎn)研雖究亂開(kāi)愚發(fā)暑費(fèi)員用擦，廣敗告鞋、卡營(yíng)粘銷輔推棍廣懸費(fèi)課用被礦動(dòng)筒投勻資壞眾帳機(jī)準(zhǔn)擠備非董經(jīng)新常臟性叉收鳴益額/浪支紀(jì)出存睡貨忠計(jì)辦價(jià)折竄舊侮方詢法戰(zhàn)特略潔性猾投肉資商鳥(niǎo)譽(yù)瞧攤嫁銷重恢組醋費(fèi)滲用養(yǎng)簡(jiǎn)老聚金笛支巖出無(wú)夏息旁債決務(wù)匯冬兌袖損畝益退敞休妙金叢支濫付租唉賃置/重購(gòu)侍入緞資科產(chǎn)開(kāi)僅辦微費(fèi)腥用稅鄰金遞喉延晨收榜入質(zhì)兔量葬保它證末準(zhǔn)某備利驗(yàn)息息費(fèi)匠用營(yíng)賴業(yè)連外露收抱入在臭建骨工形程合聞資飯企習(xí)業(yè)負(fù)姥債狠準(zhǔn)邀備非擇正納常付收圣入褲/者費(fèi)立用E裹V梢A調(diào)算整無(wú)含息膚流盒動(dòng)亦負(fù)哈債無(wú)該息梅負(fù)剃債利顫息難費(fèi)果用非薄營(yíng)綱業(yè)幸項(xiàng)謙目在罪建序工揀程壞厚帳悠準(zhǔn)熟備研殼究調(diào)發(fā)弦展村、清廣例告勵(lì)、市讓場(chǎng)種營(yíng)竭銷恢費(fèi)貪用研辦發(fā)烘、卸培緊訓(xùn)室費(fèi)殘用營(yíng)且銷意費(fèi)奔用商猴譽(yù)霸攤見(jiàn)銷壞困帳虹準(zhǔn)崗備牛費(fèi)賓用非舞經(jīng)擱常跡性甚項(xiàng)柏目在趕建兆工執(zhí)程8繞0搖/濁2葡0和規(guī)殲則集死中街在忽最執(zhí)能螺正司面蟲(chóng)影嗓響?yīng){公司卵員屯工沫行放為舍的該幾搖個(gè)熟杠屆桿商埋譽(yù)綁攤光銷經(jīng)動(dòng)營(yíng)斥租橋賃非潑經(jīng)閘常立性欲項(xiàng)寨目E吧V射A稅壩金戰(zhàn)乳略胳投喜資匯膀兌恨損叮益退火休攜金針尿?qū)Ρ城鄤?wù)島潤(rùn)啤軍酒幻玉的菊E段V問(wèn)A圣調(diào)新整懸（滲1峽）項(xiàng)目調(diào)整原理調(diào)整方法資本化費(fèi)用發(fā)揮效應(yīng)的期限長(zhǎng)，全部計(jì)入當(dāng)期損益不合理；容易打擊管理者對(duì)此類費(fèi)用投入的積極性，不利于公司長(zhǎng)期發(fā)展還要保證對(duì)此類投入有合理的回報(bào)，需要在一定的受益期間內(nèi)收回將此類費(fèi)用資本化，并按一定受益期限攤銷營(yíng)業(yè)外收支EVA衡量的是企業(yè)真正的營(yíng)業(yè)狀況與營(yíng)業(yè)無(wú)關(guān)、營(yíng)業(yè)外的應(yīng)剔除在外營(yíng)業(yè)外收支又是股東所必需承擔(dān)的損失或收益，應(yīng)資本化，使其與未來(lái)收益相匹配，由股東永久承擔(dān)將當(dāng)期發(fā)生的營(yíng)業(yè)外收支從NOPAT中剔除，并資本化處理，并需考慮以前年度累計(jì)資本化的影響；同時(shí)調(diào)整對(duì)現(xiàn)金營(yíng)業(yè)所得稅的影響匯兌損益匯兌損益是非責(zé)任性，不可控的屬公司正常運(yùn)營(yíng)以外發(fā)生的損失或收益，不能體現(xiàn)營(yíng)業(yè)成果應(yīng)由股東永久性承擔(dān)當(dāng)期發(fā)生的匯兌損益從NOPAT中剔除，并資本化處理，并需考慮以前年度資本化累計(jì)影響；同時(shí)調(diào)整對(duì)現(xiàn)金營(yíng)業(yè)所得稅的影響；針演對(duì)血青面島赴啤陜酒史的黃E齊V瓦A屯調(diào)模整牲（裂2妙）項(xiàng)目調(diào)整原理調(diào)整方法會(huì)計(jì)準(zhǔn)備計(jì)提是基于會(huì)計(jì)的保守和謹(jǐn)慎性原則，不能真實(shí)反映公司的營(yíng)業(yè)狀況容易引起會(huì)計(jì)操縱和對(duì)營(yíng)業(yè)狀況的不真實(shí)反映NOPAT計(jì)算時(shí)，把會(huì)計(jì)準(zhǔn)備沖回，即按實(shí)際發(fā)生額計(jì)入相應(yīng)的會(huì)計(jì)期間計(jì)算資本時(shí)按帳面值計(jì)入資本（即提取會(huì)計(jì)準(zhǔn)備前的數(shù)值）負(fù)息債務(wù)之利息支出負(fù)息債務(wù)之利息支出屬于資本成本的一部分，應(yīng)從NOPAT的計(jì)算中剔除，統(tǒng)一在資本成本中核算將負(fù)息債務(wù)的利息支出從NOPAT的計(jì)算中剔除，同時(shí)對(duì)現(xiàn)金營(yíng)業(yè)所得稅進(jìn)行調(diào)整無(wú)息流動(dòng)負(fù)債無(wú)息流動(dòng)負(fù)債不擔(dān)負(fù)資本占用費(fèi)用管理層要管理的是凈營(yíng)運(yùn)資產(chǎn)，即流動(dòng)資產(chǎn)減除無(wú)息流動(dòng)負(fù)債將無(wú)息流動(dòng)負(fù)債從資本總額中減除無(wú)息長(zhǎng)期負(fù)債做為資本的一部分，已計(jì)入資本成本，統(tǒng)一計(jì)算了資本占用成本，應(yīng)避免這部分重復(fù)計(jì)算在NOPAT中加回這部分負(fù)債的隱含利息，并調(diào)整稅收針駐對(duì)銹青拆島臺(tái)啤蕩酒搞的幕E祝V贏A撲調(diào)防整何（匙3外）項(xiàng)目調(diào)整原理調(diào)整方法營(yíng)業(yè)所得稅EVA營(yíng)業(yè)所得稅與公司損益表中的所得稅費(fèi)用有差異，需進(jìn)行調(diào)整。這些差異主要是來(lái)自于對(duì)NOPBT的收支調(diào)整項(xiàng)帶來(lái)的稅收影響從損益表中的所得稅出發(fā)，將各項(xiàng)稅前收支調(diào)整對(duì)所得稅的影響加上去非營(yíng)業(yè)性資產(chǎn)非營(yíng)業(yè)性資產(chǎn)不產(chǎn)生收益，因此對(duì)其計(jì)資本成本會(huì)導(dǎo)致此項(xiàng)資本成本無(wú)相關(guān)的收益相匹配；將非營(yíng)業(yè)性資產(chǎn)從資本總額中剔除，不計(jì)算相關(guān)的資本成本,其中對(duì)非營(yíng)業(yè)現(xiàn)金的相關(guān)收益也從NOPAT中減除(即減除非營(yíng)業(yè)現(xiàn)金對(duì)應(yīng)的利息收入）商譽(yù)商譽(yù)是類股東權(quán)益性質(zhì)的資本，它發(fā)揮效用的時(shí)期為未來(lái)的所有的會(huì)計(jì)年度，需要公司未來(lái)的盈利與之相匹配，因此，不應(yīng)該將其攤銷或計(jì)入費(fèi)用

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