Chuong 1 .

thi.ichie.in chink séch "

DN nén co tuk ntn ?
'

Doanh thee -

cphi
lai ray) I Cloii ray )
'
= F- BIT CL.dinhu.in tré there & -

= EBT ( l.di nhuo.in tré there) T Cthué)

-

= EAT ( fdi nhuc.in saw thee ,

eaii ring ) -

DI ( tried wow d-ai )

= TN ( then nhqip ) c doing thinking >0

→ tieri hainh chi trai ( phair phot ) cho care c doing thuing → chi

trai vi.tic & giuea.it phair d-eita-id-aiit.ci

thunha.pe doing thinking / so" lg

op thinking ang
hahha
ERS : d- how

citric tong so tien chitra citric

"
tylé
: troi → = too ✗ a
.

thinking a) "g
'
( thunha.p.co d-o
ng ✗ → DIS = to
'
so tien chi
'
tra ai
'
tuk Isai by CI d- hiuhanh lhunha.jp c dog thutdng
*
a
ang =

/ "

lg throng
*
so EIS
op a
=

DIS
→ a =

ERS

'
Ti bi
.
ed.inh.ua?ngiJl.ai = 1 -
a

OFC :
doing tie-in ho.at doing
OFC = E B IT + Khair hao (D) -
T
CF F A :
doing tie-in phat sina.t-u-ta-isa.ru

CFF A =
Doing tie-in Cho trai chui +
doing tién choc doing

tien cho trai chul Trai lai vain thnaii ME i

Doing =
way
-

ray
( n.dvaydoiih.am Ck -

n.dvayda-ih.am D- K)

Ding tie-in choc

doing = troi c two -
vain d-air tu est thuainméi
( Vaind-air tu est CK - vain d-ai ti CSH D- K)
 Chuong 2 .
Cdc BCTC &
doing _
tieri

d-oike.toain-vohluoinchuye-nro-ng-tsanngaiih.am
Baig coin

no
? ngaiih.am
+
vain brain ohuyén rang >0 → chitién ( doing tien ra
,
the Ghi)
+ "
<0 → thntieii ( "
rat then > chi)
,

+ "
= 0 → hooinhao ( ko due , ≤ thieiv)

Taing t.san-TSnga-nh.am TS doii h.am

-

" _
-

Ting nguÉn vain =

Ting ?
no + VCSH Going n& = NINH +
nd DH)
-
vain vain
-

Téhg TS =
Ting ng

DT CI E BIT I EBT T EAT DI Thu

-

= =
-
-
= =
- -

nhc.ipcoid-ongthutohg-G.tn
: so is gia got :

Maia VCI
gtri.thi.tn"dng
VTT aka ?
TO
BINQCgtri.thi.trgd-otrei.TO no
+
=

Gtri so said
'
TS
.

TO BINQ > 1 →
gtri.TT > gtn: so séeh →
ctyhyot.dngtaitr.de phat
antnie.cd-aiitulna-yhie.ir quai
?⃝
 ② Baio cciothwnha.jo :-p
hah oink hie.io qual kdoanh aka DN
trong
thy
'
-
con so q.tr.org lot EB IT voi EIS
+ E BIT 40 : dthu ≤ did but CI → G.quoi hotted hair
+
E BIT 70 :
dthud-iobu-CI-h.qwahd-kd.to't
'
+ E BIT → EIS
qua
I
,
T DI
thunha.p.co dong throng >0
,
→

phdibdtheimtiei -GAAP-cnguye-ntacphu-h.gs
:c
doing céldi ,
<0 : c
doing

: DT phat phui hop C1 - thu

nho.ipt-bie.it is
doing tie-in )

+
DT -

cphih.IO?ng--EBIT-I--EBT-T--EA0T-DP---thunha?pco' doing thwidng

↓ tién
±
doing
Thu nha.ie ring
-
Thee nha.jp moi c phair =

Tdhgsd lgcphainotanghiuvhanh
'

Cai
'
tic moi ce =
Citric
Tg sledding CI d-ang him hñnh

② three
-

True nha.jp car d- i. nh three cao →

Thee nha.jp bait thinking thué raitcao '

-
→
 chehhle.tk giÑa EAT
tie-in thug
' /
so voi EBT
-
Thué Strait '

trung binh =

tohgthunho.ipoh.in thwé

Thué suit bien té! % thué

'

suait-tang.theinthiphai.no?p-theinbaonhieirtieri
'
-
_

'
-

Thué cat d-i.nh ( flat e rate tax ) : thuésuat trung binh (there's wait

hie.ie quoi ) thué suit

' '

= bieñ té

④ Vain brain chuyén ring

VLCR =
nhu.cat voir brain chiyéni = TSNH -
n ? Nti

cainhair : chi tiév ding

-

d-aii-twdoanhnghie.in : Chi tiene vain (capital sending )

-

d-air tu vaio VLCR cuing otccoi Gi chi tier vain

thayotoi trong VLCR = nhucñi VLCR = VLCR -

naimt
VLCR
nain t t
-

↓
hie.in doin tie Cain )
'
>0 : chi tien ,
the

(0 : 1hm tien ,
"
coring Cduldng)
⑦ Doing nhñit their ké tain
'
:

VLCR +
TSC D- = No? doii hqn +
VCSH

VLCR = tie-nma.it + tsan biu doing khaic -

:
no ngoinh.am

tie-nma.t-cn.ddaih.am + VCSH -
TSGD ) -
tsan
bin doing khoic + no
? ngoinh.am
TS how d-o.mg/----VLCRkhongtierima.it+n.onga-nh.an
tie-in m-qt-n.ddaih.am + VCSH -
TSC-D-VLCRetieiim.at
⑤ Doing tieri duidigéc d-& tai chinh

Baio ciao doing tieri :

3 baio caio
+
BCDT tie h .

doing KD :
neii >0 → HDKD tao ra tieri

+ tii hot ta-itr.ci

hot d- ai tri : d- a phat la aim vicki 1hm Cinna
'
1- tie >

sain ts . thank bj )
ng cat
co 3 baio Caio nñy ra doing tie-in thuain aia DN
.

Coking tie-in t.nl do )

-
BCDT tg dog tién HDKD
=
,
d-at tri & tai tr?

Doing aig.la they d-di tren

'
so did Tieri

d-uklgtieiiowacand-oih.to
tutdg &
-

air

Lai
ray otctinhrvao doing tieri tai tro
? Ctai chink) voi vaio

doing tie-in HD KD Ckétoain )

-
GA AI cho
phép ñ qdi.nhmangtih.fr Chi
quan ai
ang
lm her toair
-

Doing tie-in it ph.ie C- & chul quan ata her to air & root
hhci chink Siva dog tie-in
Chuong 3 .

ty so
'
thank toa-nhie.in hoinh =
TS ngaiih.am
n.dngoinh.am

thank toannhanh TS ngainh.am hang tohhho

try
-

?
no nga-nih.am
tf so
'

tie-nm.at =
tieiim.at
no ? ngaiih.am
✓0h baig tieri
=

N IT
nga-niha.ru

Ting
tf sorn?
" TS
b&i so ion c phair =
=
1- + train Vest,

appian
"
Taing so vain

tyson khai naing thank toan Kii ray = E BIT / lai ray

ty
'
so d-aim bdo tie-in ma.it =
E BIT + khai hao + cphitriidoini
lai
ray

n.dnhdichi.ie lair (
< 1- mama
khai na-ngtran.dda-ih.am =

EBITDA
> 5 rat
yet)
 Gia vain hang bain
wing quay Going ton Rho =

tain Kho
hang
th gian lute hho
.
=
365 ngaiy
ton kho
vong quay hang

vong quay
khoainphaithu-doanhthukhoanphail.hu
365
SÉ
ngoiy thuphai thee =

vdng quay ngoiyphai their

doanh thee
wing quay tong tsan =

tohg tsan

bien
l.din.hu?an=LNrongdoanhthu
bien EBITDA =
EBITDA
doanh then

LN ring
try suoi't sink loti treen tsan =

tohg TS

try suoi't sink fdi train VCSH =

LN ring
tdhg VCSH

CP-hiei thunh.ipmoi.co?phaii
gia moi
'

try sd
treinthunha.jp IE =
 thi.tnddngmoi.co?phaiigtri.sdsachmEicd'
9ᵗʰ:
tjsogiathi truong .
trénsosaah =

photo

phiei xsolwd.ngcophaiigtri.d.nghie.fr
voir héa thi . tnidng =
gia 1- c

EV =
gtri.ro/nhoathi.tnidng+gtn;civano?vohhoaphai cfyivlaitlieii
ma.it

' EV
b&i so gtri d. nghie.jp = EBITDA :
,

EBITDA

b&isÉc phair ( 1- + tysoinqtrénvcstl

*
ROE = ROA = ROA

ROE : tysuait sink Edi train VCSH

ROA :

LN ring doanhthu tngTS

ROE = × ×
Doanhthw
tohgts tongues H
=
bien lo? inhu.am ✗
long quaytohg TS × boiisovoncphoin

Dupont
*
:

ROE tjsuat : sink lQi train VCSH

TA
EAT / TE = EAI ✗ =
EAT
✗
TR
×
TA

TA TE TR TA TE

= IM ✗ TAT ✗ EM
 Mush king ROE at
'
the IM hoax TAT , chula chak
→
king
'
la EM

Chuong 4 .
 Chiong 5 .
Dinh gia &
got;nh d- aiitwtsantchihh

* NIV :
gtri.hu?enta.iro- ng
n Ct doing tiénréngnarnt CLN
:
-

CI)

[ Ct
CP-cngainsa.ch?banotaiit=1(1+rgt-C0n:thgihie.in
anthu.dupink
NEV = co :

chains
thég )
. .

r:
tyeeichiétkhaiocwadégtieii
t :
thgiantihh toast dog tieri
ala dedans

'

t.hu?chie.-nNP-V- O:ecokYiNP-VLO
NIV > 0 :
khoi thi d-é

: eat

* IRR

0 : Nev =
£ Ct
_ CO IRR :
tylehooin vain
+ = 1
(1 + IRR )t 6
n&i ?

ti.nhgiatraiphiei cohy-ha.no/-chi0ngeaiF:me?nh giatraiphieii

*

n
G
-

1
rdm )
- +

16 = C ×

phial d-
"
n : so naim trai a

"
dm biwhanh cha din hhid-aoh.am
 C: eaicé drink d-a hiking mat main
gia cela trai
16 :
phieii
rdm : tf suit sink ⑦i d-di hdi ala
'

nhé d-ai tu

Dinh giatnaiphieilcohiha.no hiding lai Cc =

0 )
- n
F
I = F G +
~ )
6 "
=
dm
(1 +
sdm )

phiéu
pP_
"

Tj suit sink Gti ata new d-ai

co :
rp =

citric hoig d-at

'
Dp : rain aka Cci phiééuu
aka CI d-ai
Ip :
gtri .
it

tf suit sink lili d-dihoiaianhad-aii.tw

sp :

* Md hi-nhchietkheiidogtieiivo-h.am :
Dt Do ( 1
= + g)ᵗ
Io :
gia CI the'd
g
8 hi
& tax
g mite tag tntdngtmnha.fr hay tang tniogcé tuk
'
:
-

Do CE tic cphieiithuidngcinetmhie.in t.ae

'
:

Dt : 11 rain t
Ty'swait sink lati aka cphieit theory :

voting >
g ,
ta cé :

D- Da De
a
=
% = + 9
@ s
-

g) Io

I = EIS ×
¥ ERS :
lhvnhqipméi cphiéithuog
I /E :
tyeé gia /
.
the nheip
 d-i. nhgia
Chuong 13 .
Rhino
, aphis dying .
voir a

'
* sain hiking bein ra d-é
dnghie.jp kcia vÉn 'd E BIT

FC hainh
Q = FC :
cphiv.in
I -

VC I :
gia sain phaim
phi bieri Cbiénphi)
'

VC : chi d-i

* DOL :
tylé ,
d-on leafy
Q CI ve)
DOL ✗
-

Q x CR -
VO -
FC

+
DFL : mute d-d. doin baig t .
chink

E BIT
DFIL = ID : c twcww d-at

)
1
E BIT I
@ D ×
I cphil.at
-
-

1- T
:
ray
T : there's wait
 bién d-i
E BIT =
doanhlhu-cphiccid-i.nl tog op
-