Intlawulo yebhulethi

Intlawulo yebhulethi kukubuyiswa kwenqununu yonke yemali-mboleko ngentlawulo enye ngexesha lokuvuthwa, ngaphandle kokuncitshiswa kwenqununu ngexesha lemboleko. Inzala inokuhlawulwa ngamaxesha, iqokelelwe ize ihlawulwe ekupheleni, okanye itsalwe kwangoko. Imali-mboleko eyakhiwe ngolu hlobo ichazwa njengemboleko yebhulethi okanye njengokuba nokuvuthwa kwebhulethi.

Olu lwakhiwo lukhona ngenxa yokuba ezinye iimali-mboleko zibuyiswa ngesiganeko kunokuba zibuyiswe ngomjelo wengeniso. Apho ukubuyiswa kuxhomekeke kwintengiso, kwisivuno, ukubolekwa kwakhona okanye ekugqityweni kweprojekthi, ukusasaza inqununu ngalo lonke ixesha akuncedi mntu — imali yokubuyisa ayikho kwaphela de kwenzeke isiganeko.

Ibhulethi vs. ibhaluni vs. ukunciphisa inqununu

Lo ngumahluko odla ngokuqondwa kakubi, kwaye umahluko ngowomlinganiselo obalulekileyo ekusebenzeni.

• Ukunciphisa ngokupheleleyo: Inqununu ihlawulwa ngokuthe ngcembe ngalo lonke ixesha ngeentlawulo ezithe rhoqo zenqununu nenzala; kuphela intlawulo yokugqibela ecwangcisiweyo ibizwa ngexesha lokuvuthwa.
• Ibhaluni: Inqununu ihlawulwa ngokuyinxenye ngexesha lemboleko ngeentlawulo ezincinci; isixa esikhulu esihlawulwa kanye (esingaphantsi kwenqununu epheleleyo) sishiyeka sibizwa ngexesha lokuvuthwa.
• Ibhulethi: Akukho nqununu ihlawulwayo ngexesha lemboleko (iintlawulo zenzala kuphela okanye akukho); yonke intsalela yenqununu ibizwa ngokupheleleyo ngexesha lokuvuthwa.

Ibhaluni iyanciphisa inqununu ngokuyinxenye. Umboleki wenza iintlawulo ezinciphisa intsalela, kodwa azanelanga ukuyigqiba, kushiya isixa sokugqibela esikhulu. Ibhulethi ayiyinciphisi inqununu konke konke — intsalela ngexesha lokuvuthwa ilingana nentsalela ngexesha lokutsalwa kwemali, okanye igqitha kuyo apho inzala iye yongezwa kwinqununu.

Umphumela osebenzayo: imali-mboleko yebhaluni inika umbolekisi uluhlu lweentlawulo zenqununu ezinciphisa ubungozi zize zibonise nokuba umboleki uyakwazi na ukumelana nentlawulo. Imali-mboleko yebhulethi ayiniki nanye kwezi.

Indlela inzala ephathwa ngayo

Zintathu izakhiwo, kwaye ukhetho luyitshintsha kakhulu into efunyanwa ngumboleki kunye nento ayihlawulayo.

Inzala iyahlawulwa. Inzala ihlawulwa ngamaxesha athile ngokusuka kwingeniso yomboleki ngokwakhe, lo gama inqununu ihlawulwa ngexesha lokuvuthwa. Kufuna ukubonakala kwengeniso ngexesha lemboleko, kwaye kunika umbolekisi uphawu lwentlawulo oluthe rhoqo.

Iqokelelwe (iyengezelelwe). Inzala iyahlanganiswa kwaye yongezwa kwibhalansi, ihlawulwe kunye nemali eyintloko ekuvuthweni. Akukho nto iphumayo epokothweni yomboleki ngexesha lonke. Isixa-mali esityalwayo siyakhula ngalo lonke ixesha, kwaye apho inzala iyahlanganiswa khona, ikhula kwisiseko esikhulayo.

Ibanjiwe (itsaliwe). Umbolekisi utsala inzala yexesha elipheleleyo kwimali-mboleko xa kukhutshwa imali. Umboleki ufumana ngaphantsi kunesixa esichaziweyo semali-mboleko. Ixhaphakile kwimali-mboleko yexesha elifutshane eqinisekisiweyo, kwaye sesona sizathu sokuba isixa esifunyenweyo sisoloko singaphantsi kwesixa-mboleko ekuvunyelwene ngaso. Inzala engasetyenziswanga ngokuqhelekileyo iyabuyiselwa xa kuhlawulwa kwangethuba, nangona oku kufuneka kuqinisekiswe kunokuba kucingelwe.

Apho kusetyenziswa ukuhlawulwa kwebhulethi.

Imali-mboleko yebhulorho. Ihlawulwa ngokuthengisa okanye ngokuxhaswa ngemali kwakhona. Ukuphuma sisiganeko esinye, ngoko ke intlawulo yintlawulo enye.

Imali-mboleko yophuhliso nolwakhiwo. Itsalwa ngezigaba ngokuhambelana nenkqubela yolwakhiwo, ibuyiselwa ngokuthengiswa kweeyunithi ezigqityiweyo okanye ngesibonelelo sexesha esithatha indawo yayo.

Imali-mboleko yemveliso yezolimo. Ihlawulwa emva kokuvuna. Ukunyanzelisa iintlawulo zenyanga zembuyekezo eyintloko kumfama onethuba elinye lokufumana ingeniso ngonyaka kuvelisa iintsalela ezibonisa ishedyuli endaweni yokubonisa ifama.

Imali-mboleko yeenkampani neyokubolekisa ngokuhlanganyelwa. Izigaba zamaziko kwiimali ezixhaswe ngamatyala zithwala ukuncitshiswa kwetyala okuncinci kwaye zinebhulethi enkulu ekuvuthweni, nto leyo ehambelana nabatyali-mali abafuna inzuzo kunokuba imali eyintloko ibuyiselwe.

Iibhondi. Ibhondi eqhelekileyo ihlawula amakhuphoni ngamaxesha aqingqiweyo kwaye ibuyisela ixabiso lobuso elipheleleyo ekuvuthweni — oku kusisakhiwo sebhulethi ngokwendalo. Ezi ngamanye amaxesha zibizwa ngokuba ziibhondi zebhulethi ukuze zahlulwe kwezihlawula amatyala ngokuthe ngcembe okanye kwezineengxowa-mali zokucima amatyala.

Imali-mboleko yabaninizabelo neye-mezzanine. Inkxaso-mali engaphantsi apho umbolekisi alindele ukuhlawulwa ekuphumeni endaweni yokufumana intlawulo kwi-cash flow yokusebenza.

Imali-mboleko yorhwebo neyezinto zorhwebo. Ihlawulwa xa iimpahla ezisisiseko zithengisiwe okanye xa intlawulo elindelekileyo iqokelelwa.

Kutheni ababoleki beyisebenzisa

• Ukolondolozwa kwe-cash flow ngexesha apho umsebenzi oxhaswe ngemali ungavelisi ngeniso — ulwakhiwo, ixesha lokukhula, ukulungiswa kweshishini.
• Ukungqamanisa ukuhlawula nokuma kwengeniso. Apho ingeniso ifika ngesixa esinye, ukuhlawula okucwangciswe ngesixa esinye kuchanekile ngakumbi, kwaye ayithethi ukungabi nalumkiso.
• Iintlawulo eziphantsi ngexesha lemali-mboleko, kukhulula imali yokusebenza.
• Iitenor ezimfutshane apho ukuncitshiswa kwetyala bekuya kuba yinto engenantsingiselo nokuba kunjalo.

Kutheni ababolekisi beyibiza ngaphezulu

• Ukuba semngciphekweni akunciphi nakanye. Umbolekisi uthwala inqununu epheleleyo ngalo lonke ixesha lemboleko, lo gama imali-mboleko ehlawula ngezavenge inciphisa ukuba semngciphekweni ngesavenge ngasinye.
• Umngcipheko ogxininisekileyo wokubuyisela imali. Isigqibo setyala sonke sixhomekeke kumhla omnye nakumthombo omnye.
• Ukuxhomekeka ekubolekweni ngokutsha. Apho indlela yokuphuma kukuboleka kwakhona, imali-mboleko ixhomekeke ekukulungeleni kwixesha elizayo komnye umbolekisi, nto leyo engaphandle kolawulo lwamacala omabini.
• Akukho kubuyiswa okuyinxenye. Ukuba umboleki uyasilela, akukho nto ithe yafunyanwa ngokuhamba kwexesha.

Umngcipheko wokuboleka kwakhona kunye nowokuvuthwa.

Lo ngowona mngcipheko uphambili wolwakhiwo. Ngomhla wokuvuthwa umboleki kufuneka akhuphe inqununu epheleleyo, kwaye ukuba umthombo obulindelekileyo awuveli, akukho nxalenye anokubuyela kuyo.

Iindlela ezintathu zokusilela ziyaphindeka:

Indlela yokuphuma ayenzeki. Intengiso iyawa, isivuno siyasilela, umjikelo wenkxaso-mali uyarhoxiswa, iprojekthi iyagqithisa ixesha.

Indlela yokuphuma ivelisa okungaphantsi kunokulindelekileyo. I-asethi ithengiswa ngexabiso elingaphantsi kwexabiso eliqikelelweyo, isivuno sivelisa ngaphantsi koqikelelo, intlawulo emele ukufunyanwa ihlawulwa ingaphelelanga.

Ukuboleka kwakhona akufumaneki. Umboleki wayelindele ukutshintsha imali-mboleko kodwa akakwazi — ngenxa yokuba imeko yakhe iye yawohloka, okanye ngenxa yokuba iimeko zokunikezelwa kwetyala ziye zaqina phakathi kokutsalwa kwemali nokuvuthwa. Lo mngcipheko ngowenkqubo jikelele kunokuba ngowomboleki ngamnye, nto leyo ethetha ukuba uvela kwiimali-mboleko ezininzi ngaxeshanye.

Kwinqanaba lepotfoliyo, ingxinano yokuvuthwa kweebhulethi ewela kwithuba elinye idala udonga lokuvuthwa — ixesha apho inxalenye enkulu yencwadi kufuneka ibuyiselwe okanye ibolekwe ngokutsha ngaxeshanye. Ababolekisi kufuneka babeke iliso kule profayile yokuvuthwa yencwadi yeebhulethi ngokusondeleyo njengokuba bebeka iliso kwiintsalela ezingahlawulwanga, kuba iprofayile kulapho umngcipheko uhlala khona ngokwenene.

Isignali elahlekileyo yokulumkisa kwangoko.

Imali-mboleko ehlawula ngezavenge inika ingxelo ngomboleki nyanga zonke. Isavenge esingekahlawulwa okanye esishiywe lixesha livela kwiibhakethi zobudala kwiintsuku nje ezimbalwa, ipotfoliyo esemngciphekweni iyatshintsha, kwaye abaqokeleli bayangenelela ngelixa intsalela isancipha kwaye iindlela zisavulekile.

Imali-mboleko yebhulethi ayiniki ngxelo kwanto de kube lixesha lokuvuthwa. Umboleki oshishino lwakhe beliye liwohloka iinyanga ezisibhozo ukhangeleka ngokufanayo kwisistim nomntu oqhuba kakuhle, ukuba nje inzala iyahlawulwa — kwaye apho inzala ifakwa kwimali eyintloko okanye igcinwa, akukho siganeko sentlawulo kwaphela, ngoko ke imali-mboleko ithi cwaka ngokupheleleyo ngalo lonke ixesha layo.

Iziphumo ezimbini ziyalandela, kwaye zombini zibalulekile kulawulo lwepotfoliyo:

Iimethrikhi ezisekelwe kumatyala angahlawulwanga ziwujongela phantsi umngcipheko kwipothifoliyo ye-bullet. Uhlalutyo lwepothifoliyo esemngciphekweni kunye nohlalutyo lwamatyala ngokobudala lulinganisa iintlawulo eziphosiweyo. Apho kungekho ziintlawulo zicwangcisiweyo ezinokuphoswa, iimethrikhi aziboni nto ngokwesakhiwo.

Iimali-mboleko ze-bullet zezona zimali-mboleko ezinokwenzeka kakhulu ukuba zandiswe. Xa ixesha lokuvuthwa lifika kwaye indlela yokuphuma ingekafiki, ukwandiswa yeyona ndlela ilula kumacala omabini — kwaye ngenxa yokuba imali-mboleko ayizange ibe sematyaleni angahlawulwanga, ukwandiswa kungasetyenzwa njengohlaziyo oluqhelekileyo endaweni yokubonwa njengengxaki. Kulapho izakhiwo ze-bullet ne-evergreening zihlangana khona, kwaye yindlela ethi ngayo ipothifoliyo ye-bullet ibonakale icocekile de kube kanye ingabi njalo.

Into ethatha indawo yokubeka iliso okusekelwe kwizavenge kukubeka iliso okusebenzayo: ukuvavanywa kwezivumelwano, ukuphinda kuvavanywe ixabiso lesibambiso rhoqo, inkqubela eqinisekisiweyo ngokubhekiselele ekuphumeni, kunye notyelelo lweendawo. Ezi zizenzo ezicetywayo ekufuneka zicwangcisiwe, kuba ngokungafaniyo nentlawulo ephosiweyo, akukho nto izibangela ukuba zenzeke ngokuzenzekelayo.

Ukuvavanya imali-mboleko ye-bullet

• Chonga umthombo wentlawulo uze unike ubungqina. Hayi ukuthi “umboleki uya kuphinda aboleke imali” kodwa ngowuphi umbolekisi, ngawaphi amagama abonisa iimeko, phantsi kwaziphi iimeko. Hayi ukuthi “isivuno siya kuthengiswa” kodwa ngasiphi isivuno, ngaliphi ixabiso, kuthengiselwa bani.
• Vavanya ukwanela. Umthombo kufuneka uvelise okwaneleyo ukuhlawula inqununu kunye nenzala eqokelelweyo neefizi, kubekho umda wokhuseleko.
• Funa umthombo wesibini. Yintoni ehlawula imali-mboleko ukuba indlela yokuphuma ephambili iyasilela.
• Misela ixesha lemalimboleko ngomda wokhuseleko. Iimali-mboleko ezibhalelwe elona xesha lifutshane elinokwenzeka ziyagqitha ixesha njengesiqhelo.
• Sebenzisa izivumelwano kunye nezibophelelo zokunika ulwazi ukudala isingqisho sokunika iingxelo esinganikelwa sisicwangciso sokuhlawula.
• Xabisa isibambiso ngokwexabiso elinokufunyanwa xa kuthengiswa., hayi nje ixabiso lemarike evulelekileyo, kuba ukunyanzeliswa kwesibambiso kusenokuba yindlela yokuphuma yokwenyani.
• Lawula iprofayili yokuvuthwa kwinqanaba lepothifoliyo., usasaza amaxesha okuvuthwa kunokuba uwahlanganise.

Iinzuzo neengozi

Kumboleki: igcina imali ngexesha lemalimboleko kwaye ihambelanisa intlawulo nengeniso efika ngezithuba — kodwa ibeka sonke isibophelelo kumhla omnye, kwaye apho inzala iqokelelana khona, imali etyalwayo iyakhula ngalo lonke ixesha.

Kumbolekisi: ibiza ixabiso eliphezulu kwaye ihlangabezana neemfuno zokwenyani ezingenako ukwaneliswa zizakhiwo ezihlawula ngezavenge — kodwa ithwala ukuvezwa okupheleleyo ngalo lonke ixesha lemalimboleko, ayifumani silumkiso kwangethuba, kwaye ixhomekeke kwisiganeko esinye esinokungenzeki.