了解企业的盈亏平衡点与流动资金

了解企业的盈亏平衡点与流动资金 了解企业的盈亏平衡点与流动资金 Understanding Your Breakeven and Working Capital [企业名称 Business Name] 目标 Objectives„ 介绍 Introductions 解释我们的作用 Explanation of our role 注意事项与会议秩序 Housekeeping 目标 Objectives„ 掌握盈亏平衡点的概念及其计算方式 To gain an understanding of breakeven points and calculations 学会计算本企业的盈亏平衡点 To be able to apply breakeven calculations to your business 掌握流动资金的概念 To gain an understanding of the concept of working capital 学会对本企业的流动资金进行简单的计算 To be able to apply simple working capital calculations to your business 盈亏平衡点的定义What Is Breakeven? 盈亏平衡点是指在某一销售水平上，企业达到盈亏持平 The Breakeven threshold is the level of sales at which the business makes neither a profit nor loss3>. 销售盈亏平衡点Breakeven Sales„ 盈亏平衡是指在某一销售水平上，企业既无利润，也不亏损 Breakeven is the level of sales at which the business makes neither a profit nor loss. 总成本 Total Costs 总销售额 Total Revenue 销售额 Sales Revenue 成本 Costs 盈亏平衡点销售额 Breakeven Sales Revenue 盈亏平衡点总成本 Breakeven Total Costs Loss Profit 固定成本 Fixed Costs 定义 Definitions„ 在计算盈亏平衡点之前，必须了解以下财务项目的定义 In order to calculate the breakeven you must first understand some financial definitions: 销售成本 Cost of Sales (or Cost of Goods Sold); 毛利 Gross Profit; 毛利率 Gross Profit %; and 总营业费用 Total Overheads. 成本种类 Types of Costs„ 成本共分为三类 There are three types of costs 固定成本 Fixed costs; 变动成本 Variable costs; and 作业成本 Activity costs. 将贵公司的支出按固定、变动及作业等三种成本进行归类 Classify your expenses into Fixed, Variable and Activity expenses. 损益表典型实例 Example of a Classified P&L Statement 132,000 毛利 53,000 7,000 最终库存 减去 60,000 50,000 1,000 货物运进费用 加上 55,000 采购 加上 6,000 采购退货 减去 49,000 10,000 期初库存 销售成本 减去 185,000 15,000 退货 减去 200,000 销售 $ $ $ 损益表典型实例 Example of a Classified P&L Statement 132,000 Gross Profit 53,000 7,000 Closing stock Less 60,000 50,000 1,000 Freight inwards Plus 55,000 Purchases Plus 6,000 Purchases returns Less 49,000 10,000 Opening stock Cost of Sales Less 185,000 15,000 Sales returns Less 200,000 Sales $ $ $ 损益表典型实例 Example of a Classified P&L Statement 45,000 5,000 货物运出费用 30,000 销售人员薪资 10,000 广告费 经营费用 减去 销售费用 141,000 9,000 折扣和 租金收入 其他营业收入. 加上 132,000 毛利 $ $ $ 损益表典型实例 Example of a Classified P&L Statement 45,000 5,000 Freight Outwards 30,000 Sales salaries 10,000 Advertising Operating expenses Less Selling expenses 141,000 9,000 Discounts and Rent received Other operating rev. Plus 132,000 Gross Profit c/fwd $ $ $ 损益表典型实例 Example of a Classified P&L Statement 45,000 销售费用 减去 行政费用 30,000 薪资 5,000 办公费用 6,000 保险费 44,000 3,000 折旧 – 办公室家具 财务费用 2,000 坏帐 1,000 问题帐款 94,000 5,000 2,000 利率 47,000 纯营利 $ $ $ 损益表典型实例 Example of a Classified P&L Statement 45,000 Selling expenses c/fwd Less Admin expenses 30,000 Salaries 5,000 Office expenses 6,000 Insurance 44,000 3,000 Depn – Office furniture Finance expenses 2,000 Bad Debts 1,000 Doubtful debts 94,000 5,000 2,000 Interest 47,000 Net Operating Profit $ $ $ 损益表计划 Profit & Loss Calculations„ $185,000 = 71.35% = 毛利Gross Profit 销售Sales 毛利率 Gross Profit % = $132,000 =销售 – 销售成本 Sales – Cost of Sales = $185,000 - $53,000 = $132,000 毛利 Gross Profit 损益表计算 Profit & Loss Calculations„ = 费用Expenses 毛利率GP% = $ 94,000 0.7135 = $131,745 销售盈亏平衡点Breakeven Sales X 100 X 100 损益表计算 Profit & Loss Calculations„ = 13,174 工作 jobs = 销售盈亏平衡Breakeven Sales 平均销售价值Average Sale Value 作业水平盈亏平衡 Activity Breakeven $100 = $131,745 四种提高企业利润率的方法 Four Ways to Improve the Profitability of a Business„ 以下是四种可以提高企业利润率的方法Here are a list of ways you can improve the profitability for your business„ 价格 Price; 变动及半变动成本 Variable and Semi Variable - Related Costs; 经营费用 Overheads; and 销售额 Sales Volume. 2% 9% 7% 6% 5% 5% 4% 4% 4% 4% 17% 14% 12% 10% 9% 8% 7% 7% 6% 23% 19% 17% 15% 13% 12% 11% 10% 8% 29% 24% 21% 19% 17% 15% 14% 13% 10% 33% 29% 25% 22% 20% 18% 17% 15% 12% 38% 32% 29% 26% 23% 21% 19% 18% 14% 41% 36% 32% 29% 26% 24% 22% 20% 16% 44% 39% 35% 31% 29% 26% 24% 23% 18% 47% 42% 38% 34% 31% 29% 26% 25% 20% 50% 44% 40% 36% 33% 31% 29% 27% 25% 56% 50% 45% 42% 38% 36% 33% 31% 30% 60% 55% 50% 46% 43% 40% 38% 35% 如果现在的利润率是„..If your present margin is . . . 20% 25% 30% 35% 40% 45% 50% 55% 为获得相同的利润, 你可以通过„„来增加销售额 To produce the same profit, you could decrease your sales by„ 如果调涨价格幅度为: If you increase your price by„ 2% 11% 9% 7% 6% 5% 5% 4% 4% 4% 25% 19% 15% 13% 11% 10% 9% 8% 6% 43% 43% 25% 21% 18% 15% 14% 12% 8% 67% 47% 36% 30% 25% 22% 19% 17% 10% 100% 67% 50% 40% 33% 29% 25% 22% 12% 150% 92% 67% 52% 43% 36% 32% 28% 14% 233% 127% 88% 67% 54% 45% 39% 34% 16% 400% 178% 114% 84% 67% 55% 47% 41% 18% 900% 257% 150% 106% 82% 67% 56% 49% 20% * 400% 200% 133% 100% 80% 67% 57% 25% * * 500% 250% 167% 125% 100% 83% 30% * * * 600% 300% 200% 150% 120% 如果现在的利润率是„..If your present margin is . . . 20% 25% 30% 35% 40% 45% 50% 55% 为获得相同的利润, 你可以通过„„来增加销售额 To produce the same profit, you could decrease your sales by„ 如果调涨价格幅度为: If you increase your price by„ 利润提升战略 Profit Improvement Strategy„ 通过提高价格或销量来增加销售额 Increase sales revenue by increasing price and/or volume 将变动成本的增长控制在销售额增长的百分比以内，不得超过 Keep variable costs at least equal to or below the rate of increase in sales revenue 在总经营费用的范围内，尽量提高生产力 Achieve greater productivity from the resources financed by overheads 确保对资产的严格控制 Ensure that tight control is exercised over assets 流动资金的定义 What Is Working Capital? 流动资金就是流动资产减去流动负债Working capital is the sum of current assets minus current liabilities 重要的定义包括 Important definitions: 库存 Inventory; 在制品 Work in progress (WIP); 债务 Debtors; and 债权 Creditors. 流动资金的重要性 Why Is Working Capital Important?„ 没有足够的流动资金，企业将无法运营 Your business will FAIL without sufficient working capital 澳大利亚小型企业统计分析 Small Business Statistics in Australia 按2001年6月统计数据，小企业总数为1,162,000 1,162,000 small businesses operating in Australia at June 2001 35%的企业经营年限为1-5年 35% had been in operation for 1 > 5 years 19%的企业经营年限为5-10年 19% had been in operation for 5 > 10 years Source: Australian Bureau of Statistics 企业的发展需要资金的支持 As a Business Grows So Will Its Need For Cash! 增加库存以适应不断增加的销售的需要 Increased inventory levels to cope with increased sales demand; 支付新增的营运成本，如工资等 Pay for increased operating costs such as wages etc; and 支持不断增加的应付款项，及其它流动资金需求 Support higher levels of debtors and other working capital requirements 实例 An Example„ 150,000 第二年的利润 210,000 资金来源: 第一年的流动资金 60,000 135,000 所有利润再投资后的资金缺口 360,000 420,000 210,000 所需的净流动资金 (150,000) (75,000) 应付帐款 320,000 160,000 库存 250,000 125,000 应收帐款 150,000 75,000 税后纯利润 100,000 50,000 缴税 (40%) 350,000 175,000 经营费用 1,400,000 700,000 销售成本 2,000,000 1,000,000 收入 第二年 第一年 实例 An Example„ 150,000 Profit in Year 2 210,000 Funded by: Working Capital from year 1 60,000 135,000 Cash shortfall after all profits have been re-invested 360,000 420,000 210,000 Net working capital required (150,000) (75,000) Accounts payable 320,000 160,000 Inventory 250,000 125,000 Accounts Receivable 150,000 75,000 Net Profit after tax 100,000 50,000 Tax (40%) 350,000 175,000 Operating expenses 1,400,000 700,000 Cost of sales 2,000,000 1,000,000 Revenue Year 2 Year 1 流动资金计算 Calculating Working Capital„ 流动资金 流动资产 应收帐款 $125,000 库存 $160,000 总流动资产 $285,000 流动负债 应付帐款 $ 75,000 所需的流动资金 $210,000 流动资金计算 Calculating Working Capital„ Working Capital Current Assets Accounts receivable $125,000 Inventory $160,000 Total Current Assets $285,000 Current Liabilities Accounts payable $ 75,000 Working Capital Required $210,000 流动资金管理原理 The Principles of Working Capital Management„ 提高毛利率 Increase Gross Profit % 将库存周转期最大化 Maximise Inventory Turnover 将应收款项周转期最大化 Maximise Receivables Turnover 将应付款项周转期最小化 Minimise Payables Turnover 现金循环 The Cash Cycle„ 流动资金中，用在应收款项与库存上的金额占总流动资金的百分比是多少, How much of your working capital is tied up in Debtors and Stock as a percentage of annual turnover? 在与供货商达成付款 协议 离婚协议模板下载合伙人协议 下载渠道分销协议免费下载敬业协议下载授课协议下载 时，是否可以尽量地延长付款期, Could you achieve longer trading terms with your suppliers? 结论 Conclusion„ 你最希望从这次的演示说明中学到什么,What have been your key learning points from this presentation? 这次的演示说明是否达到的你的期望,Has the presentation met your expectations? 你是怎样受益于这次所学到的东西,How will you benefit from what you have learnt? Notes For Consultant 首先自我介绍，并请参会人员逐一自我介绍。 向参会人员解释你的作用是推动与促进，而不是专家。 宣布一些注意事项，会议时间安排、点心饮料、洗手间位置等。 会议时间大约为两个半小时。 会议的设计旨在使参会人员可以从你的演示报告中学到更多的东西。 确保参会人员在会议期间积极地提出问题，确保参会人员有完成工作手册。 将演示分为两部分进行，中间有20分钟的休息时间。 在会议结束时，准备10分钟的时间作为提问时间。 请参会人员关闭手机，以避免干扰。 Introduce yourself and get the participants to introduce themselves Explain that your role is to be a “facilitator” not an “expert” Go through some housekeeping rules such as how long the session will run for, refreshments and location of toilets The session should take approximately 2 – 2 1/2hrs This program is designed so that the participants get the most out of your presentation Be sure to involve the participants by asking questions along the way and ensure that they complete the work booklets Also, please be sure to break the presentation into two sessions with a 20 minute interval Leave ten minutes available for questions at the end of the presentation Ask attendees to switch off their mobile phones to avoid being interrupted Notes For Consultant 在开始演示时，对这次你希望达成的目的作一个简要的概述。 将参会人员希望达到的目标写在白纸板上，在会议结束时重新回顾一次。 Begin the presentation with an overview of what you are going to achieve during the session Write the participant’s expectations on a whiteboard and revisit them at the end of the session Notes For Consultant 请参会人员完成工作手册的1.0部分。 向参会人员强调了解本企业“盈亏平衡点”的重要性，因为只有其销售额超 过了这一点，企业才有利润。 将盈亏平衡点设定为企业的“最低业绩 标准 excel标准偏差excel标准偏差函数exl标准差函数国标检验抽样标准表免费下载红头文件格式标准下载 ”。 Ask participants to complete Section 1.0 of their workbooks Stress that their “Breakeven” is an important figure to know because their business must make sales in excess of the breakeven to make a profit Breakeven must become a “Minimum Performance Standard” for their business Notes For Consultant 向参会人员解释该图表。 在成本与销售交叉的那一点，企业既没有利润，也不亏损。 Explain the graph Where costs and revenue meet, the business makes neither a profit nor loss Notes For Consultant 销售成本—这些成本在企业生产、销售产品或服务的过程中产生。例如人工 成本、原材料、元件等。 毛利—销售额与销售成本的差额 毛利率—毛利占销售额的百分比 计算公式--(毛利/销售额)X 100 总经营费用—除销售成本以外的所有其它费用 Cost of Sales - those costs incurred as a result of producing or providing goods and services according to production or activity Examples – labour, materials, components Gross Profit - the difference between sales and cost of sales Gross Profit % - is the Gross Profit expressed as a % of sales Calculation Gross Profit x 100 Net Sales Total Overheads – Total expenses other than those costs that contribute to the cost of sales Notes For Consultant 固定成本—在一定的时间内，不随着产量或销量的变化而变化的成本。如: 租金、水电、保险、折旧等。 变动成本—随着产量与销量的变化而变化的成本。如:单位成本、生产一线 工人工资、运货费等。 作业成本--作业成本是变动成本的变化物。 这对于区分那些既不是固定成 本，也不是变动成本，但是会销售变化间接影响的费用。如:为运输大量货物而 租用的卡车、雇用摄影师的费用(因为根据工作量的大小，其费用固定费用加上 变动费用) 请参会人员完成工作手册中2.0部份的内容 2.0部份的标准 答案 八年级地理上册填图题岩土工程勘察试题省略号的作用及举例应急救援安全知识车间5s试题及答案 : 固定成本—折旧、保险、预付租金、MV注册、董事的薪酬 变动成本—销售佣金、绩效奖金、信用卡交易费、购买存货 作业成本—维修费、卡车租用、手机、邮费、制服、电话、雇用摄影师 Fixed costs – costs that remain unchanged in total for a given time period despite wide changes in the related total activity or volume Examples – rent, power, insurance, depreciation Variable costs – costs that change in total in direct proportion to changes in the related total activity or volume Examples - Unit costs, production wages, and delivery charges Activity costs – These costs are a sub group of Variable costs. It is useful to classify all expenses that are clearly neither Variable nor Fixed but vary indirectly according to sales growth. Examples – Rental of large volume delivery trucks and photocopiers for a fixed cost plus a variable cost based on volume of usage Have participants complete Section 2.0 of the workbook 2.0 Solutions Fixed costs – Depreciation, insurance, rent on premises, MV registration and Directors salaries & wages. Variable costs – Sales Commissions, performance bonuses and credit card processing fees, purchase of stock. Activity costs – Maintenance, truck hire, mobile phone, postage, uniforms, telephone, photocopier hire. Notes For Consultant 与参会人员一起，将毛利、毛利率与盈亏平衡的计算过一遍。 请参会人员使用工作手册的3.0部份。 Work through the example that explains the calculation for Gross Profit, Gross Profit % and Breakeven Ask participants to follow Section 3.0 of their workbook. Notes For Consultant 与参会人员一起，将毛利、毛利率与盈亏平衡的计算过一遍。 请参会人员使用工作手册的3.0部份。 Work through the example that explains the calculation for Gross Profit, Gross Profit % and Breakeven Ask participants to follow Section 3.0 of their workbook. Notes For Consultant 与参会人员一起，将毛利、毛利率与盈亏平衡的计算过一遍。 Work through the example that explains the calculation for Gross Profit, Gross Profit % and Breakeven Notes For Consultant 与参会人员一起，将毛利、毛利率与盈亏平衡的计算过一遍。 Work through the example that explains the calculation for Gross Profit, Gross Profit % and Breakeven Notes For Consultant 与参会人员一起，将毛利、毛利率与盈亏平衡的计算过一遍。 Work through the example that explains the calculation for Gross Profit, Gross Profit % and Breakeven Notes For Consultant 与参会人员一起，将毛利、毛利率与盈亏平衡的计算过一遍。 Work through the example that explains the calculation for Gross Profit, Gross Profit % and Breakeven Notes For Consultant 完成例子中的计算。 请参会人员使用自己公司的数据，完成工作手册中的4.0部份。 在固定成本被覆盖后，其销售额超出变动成本的部份即为公司的利润。 Go through the calculations in the example Have participants complete Section 4.0 of their workbook using their own figures After fixed costs have been covered, every sale above its variable cost will contribute profit Notes For Consultant 完成例子中的计算。 Go through the calculations in the example. Notes For Consultant 需要提请参会人员注意，作业水平的盈亏平衡也是需要了解的一个重要数 据，即企业达到盈亏平衡的作业水平 例如，如果所有职位的平均价值是100元，则作业水平的盈亏平衡点除以平 均销售价值 可以通过计算机系统，每周或每月向管理人员提供该数据，使其掌握真实的 作业水平，或者是说所要求的作业盈亏平衡 It is also important to note that the breakeven activity level is also an important number to know i.e. the activity level at which the business will breakeven For example, if during the year the business had jobs with an average value of $100, the breakeven activity level would be your Breakeven Sales divided by your average sale value This can be computed monthly or weekly to allow a business to understand activity on a “real time” i.e. the breakeven activity requirements Notes For Consultant 价格—提高价格，参见价格提升表 一般来说，由于害怕客户流失，企业都不愿意提升价格。你需要向其解释， 所流失的客户大多为D类对价格敏感的客户，他们总是延迟付款，并很难与其打 交道。由于价格的提升，企业有能力承受部分客户的流失。 变动及作业成本—在确保产品或服务质量不变、不会导致销售下降的前提 下，降低变动及作业成本 经营费用—在确保产品或服务质量不变、不会导致销售下降的前提下，降低 固定费用 销售额,在确保固定生产成本与服务成本不变的前提下，提高销售量，这样 所增加的部份就可以获得高额的毛利。 Price - Increase price, see price increase charts Normally, clients will be reluctant to increase their prices due to the fear of losing customers. You will need to explain that the customers they lose are characteristically “D” class clients who are price sensitive, late payers and difficult to get along with. By increasing your price you can afford to lose some clients. Variable and Activity Costs - Reduce the level of Variable or Activity expenses, provided that there is no change in product or service quality that could effect the level of sales Overheads - Reduce the level of Fixed expenses, provided that there is no change in product or service quality that could effect the level of sales Sales Volume – Increasing sales volume, provided that the production or service costs remain constant so that the increase in volume translates to higher gross profit Notes For Consultant 该 表格 关于规范使用各类表格的通知入职表格免费下载关于主播时间做一个表格详细英语字母大小写表格下载简历表格模板下载 用于阐明提高价格的作用 计算公式为:〔价格增长百分比,(目前的毛利率，价格增长百分比)〕X 100% 例子: 如果目前的毛利率为20,，在价格增长10,的情况下，销售额降低33, [10/(20+10)] x 100% 33% 即你的销售额即使下降了33,，其利润也与提价前的利润额持平。 This table is designed to illustrate the effect of increasing prices Calculation as follows: Price Increase% (Current Gross Profit% + Price Increase%) multiplied by 100 Example If the current Gross Margin was 20% and prices were increased by 10%, sales could drop by 33%. (10/20+10) x 100 33% Your business could afford to lose 33% sales volume before the price increase had a detrimental effect on your profitability Notes For Consultant 该表格用于阐明降低价格的作用 计算公式为:[价格降低百分比,(目前的毛利率,价格降低百分比)] X 100% 例子: 如果目前的毛利率为20,，在价格降低10,的情况下，销售额增长100, [10/(20+10)] x 100% 100%，即你只有将销售额提高100,，其利润才能与降价前的利润额持平。 重要的是让参会人员了解，降低价格只会留住对价格敏感的客户(你不是真 正希望吸引的客户) 通过与价格提升表相比，可以发现，通过提价但失去部份客户要比通过降价 但提高销售额更能够使公司维持同样的利润水平。 This table is designed to illustrate the detrimental effect that price discounting can have on a business Calculation as follows: Price Decrease% (Current Gross Profit% - Price Decrease%) multiplied by 100 Example If the Gross Margin was 20% and prices were discounted by 10%, sales would need to increase by 100% (10/20-10) x 100 100% i.e. you would need to increase sales by 100% in order to achieve the same level of profit It is important to educate participants as to the effects of discounting to keep price sensitive customers (The clients you do not really want) In comparison to the Price Increase tables, it is easier to increase prices and lose customers than it is to discount prices and try to make up the number of sales required to maintain the same margins Notes For Consultant 价格 向参会人员解释该页演示 列出利润提升战略 你可能会需要回到第15、16页:提价与降低 变动成本 随着销售额的增加，变动成本也会增加。确保能够保持毛利率是非常重要的。 提高效率与生产力 确保对资产有一个严格的控制 Price Go through slide with participants Outline the Profit Improvement Strategy You may wish to revisit the Price Increase and Price decrease charts (slide 15 & 16) Variable costs As sales increase variable costs have a tendency to increase. It is important to ensure that you ,maintain your gross profit %. Greater Efficiency and Productivity Ensure tight control is exercised over assets Notes For Consultant 流动资金是指流动资产，如库存(成品、原材料、半成品)、应收款项、现 金，减去流动负债(短期负债、应付款项、以及其它应在12月内支付的款项) 以下是相关定义: 库存,企业原材料、在制品与成品的价值 在制品,没有完全制成的产品或只部份完成的 合同 劳动合同范本免费下载装修合同范本免费下载租赁合同免费下载房屋买卖合同下载劳务合同范本下载 债务人,亏欠你金钱的客户或企业。可以将其分为会按期还款的债务人，与 不能按期还款的债务人。 债权人,企业亏欠其金钱的客户或企业。可以将其分为:得到按期还款的债 权人，与在规定的时间内得不到还款的债权人。 Working Capital is the sum of current assets such as inventory (trading stock, raw materials and work in progress), receivables (debtors) and cash minus current liabilities (short-term creditor finance, trade creditors, accounts payable and other amounts payable within 12 months). Lets look at each of these definitions Inventory - the value of a firm's current assets of raw materials and work in progress and finished goods Work in Progress - Goods undergoing the production process not yet fully completed or partly completed contracts Debtors - a client or business who owes you money. A distinction should be made between those who are expected to pay within the next accounting period and those who will not pay until later Creditors - to whom an organisation or person owes money. A distinction should be made between creditors who will be paid during the coming accounting period and those who will not be paid until later than this. Notes For Consultant 许多企业失败的原因是因为他们没能理解流动资金的变化。 许多倒闭的公司其实是盈利的,他们倒闭的原因是没有了现金支持 以上的统计数据是关于澳大利亚中小企业的寿命。统计数据是以企业目前所 有人的经营时间长短为基础的。对于那些收购而来的公司，则只计算了现在的企 业主所经营公司的时间长短，而不包括在收购前的前企业所有人所经营公司的时 间数。 根据2001年6月的数据，澳大利亚拥有1,162,000间中小企业。 35,的中小企业维持了1,5年的时间，其中1,的企业成立于1999年11 月之后。 19,的中小企业维持了5,10年，其中低于3,的企业成立于1999年11月 ,数据来源于:澳大利亚统计局 如果没有资金来支持企业的成长，那么企业就会面临倒闭的危险。因为企业 即使在盈利的情况下，也可能无法按时偿还其所欠债务。 Many businesses fail because they do not understand the dynamics of working capital Many businesses that fail are actually profitable – they fail because they run out of cash The above statistics detail the length of operation of small businesses in Australia. The statistics relate to the business as operated by the current owners. Where an established business has been taken over, the operations of the previous owner have not been taken into account and the length of operation refers to the length of time the business has been operated by the current owner only. As at June 2001 1,162,000 small businesses were operating in Australia: 35% had been in operation for 1 year but less than 5 years; up 1% from November 1999; 19% had been in operation for 5 years but less than 10 years; down 3% from November 1999 - Source – Australian Bureau of Statistics If funds are not available to finance growth, the business risks failure because it is unable to meet creditors’ demands for payment even though the business may be very profitable. Notes For Consultant 询问参会人员是否同意“企业的发展需要资金支持”的说法 研究他们的观点，通过接下来的例子向其解释这一说法的真实性 库存—企业现有原材料库存的价值。当销售增加时，库存的需求也会增加 营运成本—因为销售特定的产品或服务而增加的成本 应付款项—销售的增长也会导致应付款项的增加 Ask participants if they agree with the statement„ “As a Business grows so will its need for Cash”. Explore their views and go on to explain why this is true with the help of the example on the next slide Inventory - the value of a firm's current assets of raw materials.More inventory will be required as sales increase Operating costs – costs increase as a result of selling more of a particular product or service. Debtors – as sales increase so too will the level of debtors. Notes For Consultant 请参会人员参照工作手册的5.0部分 向参会人员说明这一例子是假设企业业务翻番为前提。假设所有的项目都均 等，企业需要增加一倍的流动资金 将第一年与第二年进行比较 假设 在第二年开始时，企业有210,000元的流动资金。如果将其利润150,000 进行重新投资，加上210,000的流动资金，则有360,000的流动资金。第二年需 要的流动资金为410,000元。 因此，有60,000的流动资金缺口 从哪里获得资金来满足这一需求? Ask the participants to follow Section 5.0 in their workbooks As a general example explain the above figures where a business doubles in size. Assuming all things being equal the business will need twice the amount of working capital. Compare Year 1 to Year 2 Assumption At the beginning of Year 2 $210,000 of Working Capital is available. If the total profit of $150,000 is re-invested plus working capital of $210,000, $360,000 is available. The working capital required in Year 2 is $410,000 Therefore, a shortfall of $60,000 exists Where will the money come from to finance the demands from creditors? Notes For Consultant 请参会人员参照工作手册的5.0部分 向参会人员说明这一例子是假设企业业务翻番为前提。假设所有的项目都均 等，企业需要增加一倍的流动资金 将第一年与第二年进行比较 假设 在第二年开始时，企业有210,000元的流动资金。如果将其利润150,000 进行重新投资，加上210,000的流动资金，则有360,000的流动资金。第二年需 要的流动资金为410,000元。 因此，有60,000的流动资金缺口 从哪里获得资金来满足这一需求? Ask the participants to follow Section 5.0 in their workbooks As a general example explain the above figures where a business doubles in size. Assuming all things being equal the business will need twice the amount of working capital. Compare Year 1 to Year 2 Assumption At the beginning of Year 2 $210,000 of Working Capital is available. If the total profit of $150,000 is re-invested plus working capital of $210,000, $360,000 is available. The working capital required in Year 2 is $410,000 Therefore, a shortfall of $60,000 exists Where will the money come from to finance the demands from creditors? Notes for Consultant 本张演示更详细地计算了流动资金 流动资金是非固定资产，如库存(成品、原材料、半成品)、应收款项、现 金，减去流动负债(短期负债、应付款项、以及其它应在12月内支付的款项) 请参会人员在工作手册的6.0部份计算自已的流动资金 在流动资金的计算例子中，假定企业业务的增长为100% 将参会人员的数据分别增加10%、20%30%，得出计划数据，即将实际数据乘 以1.1、1.2、1.3，将结果填入计划栏 应付款项 $125,000 * 1.1 = $137,500 库存 $160,000 * 1.1 = $176,000 计算出流动资产总计 应付款项 $ 75,000 * 1.1 = $82,500 你需要留出20分钟来做这个练习 This slide goes into the calculation of the working capital in more detail Working Capital is the sum of non-fixed assets such as inventory (trading stock, raw materials and work in progress), receivables (debtors) and cash minus current liabilities (short-term creditor finance, trade creditors, accounts payable and other amounts payable within 12 months). Have participants calculate their Working Capital in Section 6.0 of the workbook. In the Working Capital example we have assumed a 100% increase in the size of the business. Increase participant’s current figures by 10%, 20% or 30% to arrive at their projected figures. ie. Multiply figures by 1.1, 1.2 or 1.3 and transfer figures to projected column. Accounts receivable $125,000 * 1.1 = $137,500 Inventory $160,000 * 1.1 = $176,000 Sum total current assets Accounts Payable $ 75,000 * 1.1 = $82,500 You should allow 20 minutes for this exercise Notes for Consultant 本张演示更详细地计算了流动资金 流动资金是非固定资产，如库存(成品、原材料、半成品)、应收款项、现 金，减去流动负债(短期负债、应付款项、以及其它应在12月内支付的款项) 请参会人员在工作手册的6.0部份计算自已的流动资金 在流动资金的计算例子中，假定企业业务的增长为100% 将参会人员的数据分别增加10%、20%30%，得出计划数据，即将实际数据乘 以1.1、1.2、1.3，将结果填入计划栏 应付款项 $125,000 * 1.1 = $137,500 库存 $160,000 * 1.1 = $176,000 计算出流动资产总计 应付款项 $ 75,000 * 1.1 = $82,500 你需要留出20分钟来做这个练习 This slide goes into the calculation of the working capital in more detail Working Capital is the sum of non-fixed assets such as inventory (trading stock, raw materials and work in progress), receivables (debtors) and cash minus current liabilities (short-term creditor finance, trade creditors, accounts payable and other amounts payable within 12 months). Have participants calculate their Working Capital in Section 6.0 of the workbook. In the Working Capital example we have assumed a 100% increase in the size of the business. Increase participant’s current figures by 10%, 20% or 30% to arrive at their projected figures. ie. Multiply figures by 1.1, 1.2 or 1.3 and transfer figures to projected column. Accounts receivable $125,000 * 1.1 = $137,500 Inventory $160,000 * 1.1 = $176,000 Sum total current assets Accounts Payable $ 75,000 * 1.1 = $82,500 You should allow 20 minutes for this exercise Notes For Consultant 本页的的演示向企业提供了一个优化其流动资金管理的改进方向 提高毛利率—如果这样做的话，则在销售额减少的情况下，企业也可以达到 相同的利润水平 将库存周转期最大化—这可以减少企业用于库存的流动资金。同时，货物周 期数的增加，也可以增加利润(见现金循环) 将应收款项周转期最大化—同上。可以减少企业用于在途的流动资金 将应付款项周转期最小化—与供应商重新谈判条件。鉴于企业发展需要更多 的库存，供应商可能会同意延长付款周期。这将减少企业对于资金的额外需求。 企业应当寻求一个将这些方面都综合在一起的资金管理战略 This slides outlines some of the things that a business can do in order to optimise the management of their working capital Increase GP% - If you do this you can then afford to reduce the number of sales to achieve the same profit Maximise Inventory turnover – This reduces the amount of funds tied up in holding inventory. Also the quicker you turn over the goods the more profit you make. (See Cash Cycle) Maximise Receivables turnover – as above. Reduces the amount of funds tied up while waiting to collect money Minimise Payables turnover – re-negotiate terms with suppliers. As the business expands and more stock is required suppliers may allow for an increase in the days trading terms. This will minimise the requirement for further funding The business should aim to apply a combination of the above capital management strategies Notes for Consultant 让参会人员提供他们自己的应收款项与库存数据来作为例子。 计算应收款项与库存占总流动资金的百分比。 应收款项或库存除以流动资金，再乘以100 例子: 应收款项,125,000 流动资金,210,000 125,000 / 210,000 = 59.52% 以下是关于现金循环的描述: 用于购买生产用物品的现金 储放在库房等待被卖出的成品 为了保证销售而准备的库存 通过现金成交的销售 通过销售产品而产生的利润 现金循环越快，企业实现的利润越多。因为每次循环都会产生一定数量的利 润。 Have participant’s contribute their figures as an example for both debtors and stock Calculate Debtors and stock as a proportion of Working Capital Debtors or Inventory divided by Working Capital multiplied by 100 Example Debtors = $125,000 Working Capital = $210,000 $125,000 / $210,000 = 59.52% The Cash Cycle can be typically described as the following: Cash spent to purchase items for production Completed product becomes part of inventory ready for sale Inventory is used to satisfy the sale Sale is finalised by the payment of cash and Payment produces a profit on the sale of each item The quicker this cycle is managed the more profit the business will make as on each cycle a component of profit is made. Notes For Consultant 在这个时候，你应该对本次会议做一个总结。 确保你可以获得很多的立即行动点 将这些立即行动点写在白纸板上。 一些立即行动点的例子包括: 明确计算流动资金与盈亏平衡的重要性 让企业主计算其盈亏平衡点，并将其运用到管理企业中 让企业主计算其流动资金，并将其运用到管理企业中 让参会人员完成工作手册7.0部份中的行动计划 在会议结束前，回到参会人员的期望(第三张幻灯片)部份，确保你有覆盖 所有的期望 确保你有覆盖参会人员认为应当涉及的所有内容 将反馈表分发给参会人员填写 在参会人员填写问卷时，预留10分钟的回答问题时间 This is where you summarise the session. Ensure that you get plenty of Immediate Action Points Write them on a white board for all the participants to see Some examples of IAPs could be To identify the importance of calculating their Working Capital and Breakeven levels To have business owners calculate their Breakeven and manage it within their business To have business owners complete the Working Capital calculations and manage it within their business Have the participants complete their Action Plan in Section 7.0 of the workbook At the end of the session, re-visit the list of expectations (slide 3) clients had for the session and ensure that you have addressed each issue Be sure to recover any areas they feel necessary Hand out Feedback form to be completed by participants Leave ten minutes available for question time while participants complete the feedback form