Ukuzimela ngokwezezimali (FSS)

Ukuzimela ngokwezimali (i-FSS) kukala ukuthi isikhungo singenisa yini imali eyanele ngokusebenza kwaso ukuze sikhokhe zonke izindleko zaso — kuhlanganise nezindleko ebesizobhekana nazo ukube besisebenza ngaphandle kosizo lwemali, ngokwemibandela yezentengiselwano yemakethe. Kuvezwa njengephesenti: uma kungu-100% noma ngaphezulu, isikhungo siyakwazi ukuzimela ngokwezimali.

I-FSS iyisilinganiso esiqinile kwezimbili ezijwayelekile zokusimama ezisetshenziswa kwezezimali ezincane. Iphendula umbuzo othize:

Ukube lonke usizo lwemali belungasuswa kusasa — uxhaso lwezimali olunezimo ezikhethekile, izinsiza ezinikelwayo, imali yezibonelelo — futhi isikhungo kudingeke ukuthi sizixhase ngokwentengiselwano ngenkathi sigcina inani langempela lezabelo zaso, besisazokwazi yini ukukhokhela izindleko zaso?

Isikhungo singaba nenzuzo ngokwamaphepha kodwa singaphumeleli kulolu hlolo, ngoba inzuzo ebikiwe ingase incike kokufakwayo isikhungo esingakhokhi intengo yemakethe ngakho.

I-FSS uma iqhathaniswa ne-OSS: Izilinganiso Ezimbili Zokusimama

Ukuzimela ngokusebenza (i-OSS)

I-OSS = Imali engenayo yezezimali / (Izindleko zezezimali + Ukulahlekelwa okuphelele kwenani lempahla + Izindleko zokusebenza) × 100

I-OSS isebenzisa izibalo ezingalungisiwe. Uma ingu-100% noma ngaphezulu, isikhungo siyazikhokhela izindleko zaso zokusebenza, izindleko zoxhaso kanye nokulahlekelwa yimali mboleko ngokusuka emalini engenayo yokusebenza njengoba kwenzekile ngempela. Yiyingqophamlando yokuqala yokusimama futhi isilinganiso esilula ukusibala.

Ukuzimela ngokwezimali (i-FSS)

I-FSS = Imali engenayo yezezimali elungisiwe / (Izindleko zezezimali ezilungisiwe + Ukulahlekelwa okuphelele kwenani lempahla okulungisiwe + Izindleko zokusebenza ezilungisiwe) × 100

I-FSS isebenzisa isethi yezilungiso ezibeka kabusha amakhawunti njengokungathi isikhungo besisebenza ngokwemibandela yezentengiselwano ephelele. Ngenxa yokuthi izilungiso cishe njalo zandisa izindleko futhi zingase zehlise imali engenayo, i-FSS ngokuvamile iba ngaphansi kune-OSS. Isikhungo esine-OSS engaphezu kuka-100% kanye ne-FSS engaphansi kuka-100% siyasebenza ngokwezimali kodwa sisancike osizweni lwemali — isimo esivame kakhulu.

• Isisekelo: I-OSS isebenzisa izibalo ezibikiwe; i-FSS isebenzisa izibalo ezilungiselwe usizo lwemali.
• Umbuzo ophendulwayo: I-OSS ibuza "Ingabe siyazikhokhela izindleko zethu zangempela?" kanti i-FSS ibuza "Ingabe singazikhokhela izindleko ngaphandle kosizo lwemali?"
• Imali yezibonelelo: Ayifakiwe emalini engenayo kuzo zombili izilinganiso.
• Izindleko zezimali ezibolekiwe: I-OSS isebenzisa izindleko njengoba zikhokhiwe ngempela; i-FSS ibeka kabusha izindleko ngokwamanani emakethe.
• Ukwehla kwamandla emali kwezabelo: Akunakwa ku-OSS; kukhokhiswa njengendleko ku-FSS.
• Izimpahla nezinsiza ezinikelwe: Azinakwa uma zimahhala ku-OSS; ziyakhokhiswa ngenani lemakethe ku-FSS.
• Ubudlelwano obujwayelekile: I-OSS ngokuvamile iba phezulu; i-FSS ngokuvamile iba phansi.

Izilungiso Ezijwayelekile ze-FSS

Kunezilungiso ezine ezisetshenziswa ngokwejwayelekile. Amagama ayahluka kancane phakathi kwama-ejensi okulinganisa nezinhlaka zokubika, kodwa ingqikithi iyafana.

1. Isilungiso sezindleko zezimali ezibolekiwe ezixhasiwe

Izikhungo zivame ukuboleka ezikhungweni zezezimali zentuthuko noma kohulumeni ngamanani anezimo ezikhethekile. Isilungiso sikhokhisa umehluko phakathi kwenani elikhokhiwe ngempela kanye nenani isikhungo ebesizolikhokha ekubolekeni okwentengiselwano kwesikhathi esifanayo kanye nezinga elifanayo lokuqala.

Isilungiso = Isilinganiso semali ebolekiwe enezimo ezikhethekile × (Izinga lemakethe − Izinga elikhokhiwe ngempela)

Ukukhetha isilinganiso sereferensi yemakethe kuyisinqumo sokwehlulela futhi kufanele kubhalwe phansi — ngokuvamile izinga lebhange lendawo lokubolekisa, izinga lediphozithi eliyinkomba kuhlanganiswe nespredi, noma izinga lesikhungo ngokwaso lokuboleka kwezentengiselwano elincikene nemvelo.

2. Ukulungiswa kokwehla kwamandla emali ku-equity

Ukwehla kwamandla emali kunciphisa amandla okuthenga wangempela we-equity. Ukuze kugcinwe ikhono lokubolekisa ngezinga elifanayo langempela lesikali, isikhungo kufanele sithole okwanele ukuze kugcinwe i-equity ngokwezinga langempela. Ukulungiswa kukhokhisa indleko elingana nezinga lokwehla kwamandla emali elisetshenziswa ku-equity emaphakathi, ngokuvamile kususwe noma iyiphi inzuzo yokuhlaziya kabusha kwezimpahla ezingaguquki.

Ukulungiswa = (I-equity emaphakathi × Izinga lokwehla kwamandla emali) − Ukuhlaziywa kabusha kwezimpahla ezingaguquki

Lokhu ukulungiswa okuphikiswana kakhulu kwezine. Kuyindlela ejwayelekile ekuhlaziyweni kwe-microfinance kodwa akusilo ifomu lokubhala ngaphansi kwe-IFRS, futhi ubukhulu baso benza i-FSS izwele kakhulu ezingeni lokwehla kwamandla emali elicatshangwayo — okubaluleke kakhulu emnothweni wamazwe anokwehla okukhulu kwamandla emali.

3. Ukulungiswa kosizo lwezinto ezinikelwe

Izimpahla nezinsizakalo ezinikelwe obekungazothengwa — indawo yamahhovisi yamahhala noma engaphansi kwentengo yemakethe, abasebenzi ababolekisiwe, izimoto ezinikelwe noma amasistimu e-IT, usizo lobuchwepheshe lwamahhala — zifakwa njengezindleko ngentengo yazo efanele yemakethe.

4. Ukulungiswa kwemali engenayo

Izibonelelo, iminikelo neminye imali engenayo engeyona eyokusebenza ayifakwa emalini engenayo yezezimali. Kubalwa kuphela imali engenayo ekhiqizwa imisebenzi yezezimali yesikhungo ngokwaso: inzalo, izimali ezikhokhwayo namakhomishini ephothifoliyo yemalimboleko, kuhlanganiswe nemali engenayo evela ekutshalweni kwezezimali.

Abanye abahlaziyi basebenzisa ukulungiswa kwesihlanu, bekwenza kubejwayelekile ukubekelwa eceleni kwemalimboleko kunqubomgomo evamile, ukuze izikhungo ezinokubekela eceleni okuxegayo zingadunyiswa ngokweqile uma ziqhathaniswa nontanga ezilandelayo.

Isibonelo Esisetshenziwe

Isikhungo sibika okulandelayo ngonyaka:

• Imali engenayo yezezimali: 1,000,000
• Izindleko zezezimali: 180,000
• Ilahleko yonakalo ephelele: 90,000
• Izindleko zokusebenza: 700,000
• Izindleko eziphelele: 970,000

OSS = 1,000,000 / 970,000 × 100 = 103.1%

Isikhungo sibonakala sizinzile ekusebenzeni. Manje sebenzisa ukulungiswa:

• Izindleko zezimali ezixhasiwe: 180,000 (isikweletu esiyizivumelwano esiyi-2,000,000 ngo-3% uma kuqhathaniswa nezinga lemakethe lika-12%)
• Ukwehla kwamandla emali ku-equity: 100,000 (i-equity emaphakathi eyi-1,500,000 × 8%, kususwe ukuhlaziywa kabusha kwezimpahla ezingaguquki okungu-20,000)
• Uxhaso olungewona imali: 50,000 (Usizo lwezobuchwepheshe olunikelwe kanye nabasebenzi ababolekisiwe ngenani lemakethe)
• Ingqikithi yezilungiso: 330,000

Ingqikithi yezindleko ezilungisiwe = 970,000 + 330,000 = 1,300,000
FSS = 1,000,000 / 1,300,000 × 100 = 76.9%

Isikhungo siyahlangabezana nezindleko zaso zangempela kodwa sikhiqiza cishe u-77% kuphela walokho ebesingakudinga ukuze sisebenze ngaphandle koxhaso. Igebe elicishe libe ngu-300,000 liyinani lonyaka loxhaso esincike kulo njengamanje.

Le ndlela — ephakeme ngokunethezeka ngaphezu kuka-100% ku-OSS, ephansi kakhulu ku-FSS — iyisimo esijwayelekile sezikhungo ezixhaswa kakhulu yizimali zentuthuko.

Indlela Yokuchaza Umphumela

• Ngaphansi kuka-100%: Incike ekuxhasweni. Imisebenzi ibingeke iqhubeke ngesilinganiso samanje ngemibandela yezohwebo.
• Ku-100% noma eduze kwalokho: Ukulingana ngaphandle koxhaso. Kusimeme kodwa akukho sivikelo sokumelana nokushaqeka noma ukukhula okuxhaswa yimali yangaphakathi.
• Ngokuphawulekayo ngaphezu kuka-100%: Kukhiqiza inzuzo eyengeziwe yangempela ngemva kokubalwa kwezindleko eziphelele zentengiso, futhi ikwazi ukuxhasa ukukhula ngenzuzo egciniwe nokumelana nokushaqeka.

Izexwayiso ezimbili ekuchazeni:

I-FSS iyisilinganiso sokusimama, hhayi isilinganiso senzuzo. Isikhungo esiku-100% ku-FSS asitholi mbuyiselo yabanikazi bamasheya; simane sihlangabezana ncamashi nezindleko zezinsiza ezibaliwe ngokwentengiso, kuhlanganisa nokugcinwa kwenani langempela le-equity.

Isibalo sonyaka owodwa siwubufakazi obubuthaka. I-FSS izwelana nokukhuphuka kwamanani entengo, ulwazi lwezilahleko zemalimboleko kanye nezinto ezingajwayelekile. Umkhuba phakathi neminyaka emithathu noma ngaphezulu, ngaphansi kwemibandela yokulungisa engaguquki, unolwazi oluningi kakhulu kunanoma yikuphi ukufundwa okukodwa.

Yini Eqhuba i-FSS

I-FSS ihlukaniseka ibe izindlela zokusebenza ezimbalwa.

Isivuno sephothifoliyo — inzalo esebenzayo kanye nemali engenayo yezinkokhelo njengephesenti lesilinganiso sephothifoliyo yemalimboleko ephelele. Indlela eqonde kakhulu, futhi enomkhawulo omkhulu: ukukhuphula isivuno kuthuthukisa i-FSS kodwa kudlulisela izindleko kubaboleki, okuwukungqubuzana okuyinhloko engxoxweni yokusimama.

Isilinganiso sezindleko zokusebenza — izindleko zokusebenza njengephesenti lesilinganiso sephothifoliyo yemalimboleko ephelele. Umugqa wezindleko oyinhloko ekubolekiseni ngemalimboleko emincane, uqhutshwa yizindleko zabasebenzi basensimini, ingqalasizinda yamagatsha, umvamisa wemihlangano kanye nokucutshungulwa ngesandla. Ukwenza kwedijithali nokukhiqiza komthwalo wamakesi kusebenza lapha.

Izindleko zezimali — isilinganiso esixubile esikhokhwa ezimalini ezibolekiwe nakumadiphozithi. Ukuqoqwa kwemali yamadiphozithi, lapho isikhungo sinegunya lokwamukela amadiphozithi, ngokuvamile kungukuthuthuka kwesakhiwo okuqine kakhulu okutholakalayo.

Ukulahleka kwezikweletu — izindleko zokuwohloka kwenani njengephesenti lephothifoliyo. Yonke iyunithi yokulahleka okungagwemeka iwukuncipha okuqondile kwe-FSS.

Ukukhiqiza nobukhulu — ababoleki ngesikhulu semalimboleko, isilinganiso sobukhulu bemalimboleko esele, kanye nephothifoliyo ngegatsha ngalinye. Ngenxa yokuthi ingxenye enkulu yezindleko igxilile emsebenzini ngamunye kunokuba ibe ngeyunithi ebolekiswayo, i-FSS ithuthuka kakhulu ngokukhula, okuyisizathu sokuthi izikhungo ezincane nezisanda kusungulwa azivamile ukuyifinyelela kusenesikhathi.

Ukugcinwa kwamakhasimende — ababoleki abaphindayo babiza kancane ukuhlolwa futhi banobungozi obuncane, ngakho ukugcinwa kwamakhasimende kuthinta kokubili umugqa wezindleko kanye nowokulahleka.

Imikhawulo Nokugxekwa

Ikala ukukwazi ukuzimela, hhayi umthelela. Isikhungo singakwazi ukuzimela kakhulu ngenkathi sisebenzela amakhasimende anempilo engcono ngezomnotho, futhi sincike kakhulu kuxhaso ngenkathi sifinyelela kubantu abampofu kakhulu nabakude. I-FSS ayisho lutho ngokuthi isikhungo sisebenzela bani noma ukuthi kwenzekani kubo.

Ukuyekethisa phakathi kokujula kokufinyelela kuyinto yangempela. Ukunikeza izimalimboleko ezincane ezindaweni ezikude kukhuphula izindleko ngomboleki ngamunye ngokwesakhiwo. Ingcindezi yokufinyelela i-FSS ingaphoqa izikhungo ziye ezimalimbolekweni ezinkulu nakumakhasimende alula ukuwafinyelela — ukuphambuka emgomweni ukugxeka. Ukuthi ukuzimela nokufinyelela kuyangqubuzana ngempela, nokuthi kungakanani, kusalokhu kuyimpikiswano emibhalweni.

Ingathuthukiswa ngokukhuphula amanani kubantu abampofu. Indlela eshesha kakhulu yokuthola i-FSS ephezulu ukuphakama kwesivuno sephothifoliyo. Ngakho-ke noma yiluphi uhloso lokuzimela kufanele lubhekwe kanye ne-ukuvikelwa kwekhasimende kanye nezinyathelo zokungafihli kwamanani, hhayi ngokukodwa.

Ukulungiswa kuyizilinganiso. Izinga lokubheka lezimakethe kanye nezinga lokwehla kwamandla emali kokubili kungukuqagela, futhi i-FSS izwela kakhulu kulokhu ngakunye. Ukuqhathanisa phakathi kwezikhungo kusebenza kuphela lapho indlela yokulungisa ifana futhi idaluliwe — okuvamise ukungabi njalo ezibalweni ezishicilelwe.

Ukulungiswa kokwehla kwamandla emali kuyaphikiswa. Ukukhokhisa ukwehla kwamandla emali ngokumelene ne-equity kuyinto evamile ekuhlaziyweni kwezimali ezincane kodwa akuyona imfuneko yokubalwa kwemali, futhi ezimeni zokwehla okukhulu kwamandla emali kungabusa ekubalweni kuze kufike lapho i-FSS isho okuningi ngesimo sezomnotho omkhulu kunokusebenza kwabaphathi.

Ayiqhathaniseki kuzinhlaka zokubalwa kwemali ezahlukene. Inqubomgomo yokubekela imali eceleni ikakhulukazi ingashintsha isilinganiso kakhulu phakathi kwezikhungo ezisebenzisa izindlela ezahlukene zokuwohloka kwenani.

Izilinganiso Ezihlobene

Inkomba Yokuncika Kuxhaso (SDI). Indlela ehlukile eveza ukuncika kuxhaso njengokukhuphuka kwephesenti kuzinga lenzalo elimaphakathi lokubolekisa elizodingeka ukuze kuqedwe lonke uxhaso. Lapho i-FSS inikeza isilinganiso sokumboza, i-SDI inikeza igebe lamanani — ngokuvamile okuyindlela ezwakalayo ekuxoxweni kwebhodi, njengoba iphendula ukuthi "kungadingeka sikhuphule kangakanani amanani ukuze sizimele?"

Imbuyiselo yezimpahla (ROA) nembuyiselo ye-equity (ROE). Izilinganiso ezivamile zenzuzo ezibalweni ezingalungisiwe. Ziyasiza, kodwa azivezi ukuncika kuxhaso.

Isilinganiso sezindleko zokusebenza, izindleko ngomboleki ngamunye, ababoleki ngesikhulu semalimboleko. Izilinganiso zokusebenza kahle eziqhuba ingxenye enkulu kakhulu ye-FSS ku-amaphothifoliyo ezimalimboleko ezincane.