[酒店财务管理.ppt

LOGO 第二章 财务管理的价值观念 风险报酬 2 利息率 3 证券估价 4 时间价值 1 Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. 1.时间价值的观念 时间价值是资金周转带来的增值额。是没有风险和通货膨胀条件下的社会平均资金利润率。 相对数表示：平均资金利润率（i） 绝对数表示：资金的增值额（I） Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. 2.复利终值和复利现值的计算 复利终值是指若干期以后包括本金和利息在内的未来价值，又称本利和。 0 1 2 3 4 FVn=? FV＝PV ×(1＋i) n=（FV/PV i，n） PV=100 i=10%, n=4 Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. 2.复利终值和复利现值的计算 复利现值是指以后年份收入或支出资金的现在价值。 0 1 2 3 4 FVn=100 PV＝FV ×(1＋i )-n=（PV/FV i，n） PV=？ i=10%, n=4 Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. 3.年金终值和复利现值的计算 年金是指一定时期内每期相等金额的收付 款项（A）。 年金的种类 先付年金 延期年金 永续年金 普通年金 年 金 按付款方式划分 Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. 后付年金（普通年金） 后付年金是指每期期末有等额的收付款项的年金（A）。 后付年金终值是一定时期内每期期末等额收付款项的复利终值之和。 0 1 2 3 4 FVAn=? i=10%, n=4 A=100 V n=FVA= =A· FV I F Ai, n=A ·A C F i, n Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011