I-Financial Risk Measurement Yenziwa njani?

Funda enkosi kweli nqaku ngokweenkcukacha malunga umlinganiselo womngcipheko Imali Yenziwa njani? nazo zonke iinkcukacha zayo.

Umlinganiselo womngcipheko wemali

Umlinganiselo womngcipheko wemali wotyalo-mali uxhomekeke ngqo kwimali etyalwe ngayo, izinga lenzala yemalike kwaye ekugqibeleni luhlobo lwesixhobo esisetyenzisiweyo.

Kukho iindlela ezimbini ekunokuthi kulinganiswe ngazo umngcipheko: Ukulinganisa ngokwembali kunye nomngcipheko.

Eyokuqala inxulumene nokuziphatha kohlobo lwesixhobo sotyalo-mali ekuhambeni kwexesha, indlela eye yahluka ngayo kwaye zeziphi izinto eziye zachaphazela ukuziphatha ngendlela enayo. Ukwenza oku, izinto ezithile zobugcisa kunye nobuchule ziyafuneka, ukongeza ekufikeleleni kwiirekhodi zembali zesixhobo esikhankanyiweyo.

Nangona kunjalo, kunokwenzeka ukuphuhlisa uhlalutyo olusisiseko ngokusebenzisa i-spreadsheet ye-elektroniki kunye nokwazi iingxelo zoluntu zenkampani ekhupha isixhobo esithethiweyo, kwaye ichonge indlela yokuziphatha ebenayo ekuhambeni kwexesha.

Ukuthathela ingqalelo iincopho ezahlukeneyo (eziphezulu nezisezantsi) kunye nokudala imiyinge yezi, kodwa ngaphezu kwako konke ukuhlalutya ukuba yintoni eyabangela ukuba zibekho kwimbali yayo.Ukuba ufuna ukwazi okungakumbi malunga nesi sihloko singaqhelekanga, ndikumema ukuba ujonge eli khonkco.  Ipotifoliyo yotyalo-mali

Okwesibini, ii-arhente zokulinganisa umngcipheko zingumthombo wolwazi lokulinganisa umngcipheko wotyalo-mali. Aba baphethe uhlahlelo olwahlukeneyo kunye nokuhlelwa ngokwamanqanaba omngcipheko.

Ezi, ukuze kuncitshiswe isicwangciso sabo sokuqonda, bahlela amanqanaba ngolwimi A, B, C, D no-E; kunye neesimboli + kunye –; emisela inqanaba lokuthembela kunye nokuthembeka kwesixhobo ngasinye, malunga nolwazi oluveliswe ziinkampani ezixeliweyo ngokusekelwe:

• Solvency
• ityala lexesha elide
• ityala lexeshana elifutshane
• Izibophelelo kunye ne-inshurensi

Umngcipheko wemali, okanye umngcipheko wotyalo-mali lwemali, ngumngcipheko wokulahlekelwa yimali. Ukubala nokuzijonga, sijonga ingqikelelo; ukuguquguquka kuqondwa njengesantya apho amaxabiso aguqukayo kunye nobukhulu bezi nguqu.

Imingcipheko inxulumene nelahleko okanye ukuhla kwexabiso le-asethi eyimali, njengemali-mboleko okanye utyalo-mali. Ezi ke zihlelwe zibe ziindidi ezimbini ezahlukeneyo:

• Umngcipheko wemarike. Umngcipheko welahleko uchazwa njengeentshukumo zamaxabiso kwiimarike zenkunzi, nokuba kumaxabiso alinganayo, izinto ezikrwada, inzala, amazinga otshintshiselwano, ukusasazeka kwetyala, njl.
• Umngcipheko we-Liquidity, uveliswa xa ukuthengwa okanye ukuthengiswa kwe-asethi, ngexesha lokubulawa, kufuna ukuncitshiswa okukhulu kwexabiso.
• Umngcipheko wetyala. Kungumngcipheko wokufumana ilahleko ngenxa yokuba iqabane aliphenduli kwiimbophelelo zentlawulo ezichazwe kwikhontrakthi yayo.
• Enye ibhekisa kuMngcipheko wokuTshintshela: Olu lutshintsho okanye ukuguquguquka, okumisela ukuguquguquka kwezinga lotshintshiselwano ngemali.
• Umngcipheko wezinga lenzala: Ukuguquguquka kuguqulelwa njengomahluko phakathi kwamazinga asebenzayo kunye ne-passive yamaziko emali.
• Umngcipheko wemarike: Yiyo edityaniswe kwimarike yemasheya kunye nezixhobo zayo ezahlukeneyo (izitokhwe, iibhondi, njl.)

Iingozi zemali zinxulunyaniswa nelahleko kwixabiso le-asethi eyimali, njengemali-mboleko okanye utyalo-mali. Imiba yomngcipheko echaphazela utyalo-mali ayivezwanga yodwa. Ukubonisa le ngqalelo siya kwenza umsebenzi oza kuboniswa ngolu hlobo lulandelayo:

• Ibhondi ikhutshwa liqumrhu. Ngomba okhankanyiweyo, iqumrhu kuya kufuneka lihlawule inzala ngamaxesha athile kubanini-bhondi kwaye libuyisele i-N ekuzibophelele ngayo ekuvuthweni komba. Abatyalo-mali abanomdla wokubhalisa kulo mbandela baya kuhlawula ixabiso lokuqala P kwaye baya kuba phantsi kweengozi ezilandelayo.

• Umngcipheko wetyala. Lo mngcipheko ucingelwa kwimeko apho iqumrhu elikhuphayo lithe lasilela ukuthobela iintlawulo ezibophelelekileyo, nokuba yinzala okanye yexabiso. Ekubeni le bhondi idweliswe kwimarike yentengiselwano kwaye ixhomekeke kule mingcipheko yemarike ilandelayo.
• Umngcipheko wenzala. Ngumngcipheko ophantsi kokwahluka kwemilinganiselo yenzala xa inyuka emva komhla wokukhutshwa, kulo mzekelo isivuno sebhondi iya kuba ngaphantsi nomtsalane kwimarike, ngenxa yokuhla kwexabiso lebhondi, ilahleko yexabiso.
• Umngcipheko wokusasaza. Yimeko apho iintlobo zenzuzo azihlupheki ukungafani kwaye umniki-nkonzo akaphumeleli kwiintlawulo zakhe, imeko yequmrhu elikhuphayo kumsebenzi walo wesiqhelo, unokulimala ngexesha lokukhutshwa.

Iprimiyamu yomngcipheko okanye ukusasazeka kotyalo-mali kuya kunyuka, kucuthe ixabiso lemarike le-asethi.

Ukubuya, umngcipheko kunye nexesha. Ngamnye kubo umele inkalo emiselayo kwisicwangciso sotyalo-mali onaso. Kula manani mathathu, umngcipheko uchaza uninzi lwesigqibo sokwenza imali kwiprojekthi ethile kuba uzinzo lwesenzo sikuyo.

5 Amanyathelo ohlalutyo lomlinganiselo womngcipheko wemali

Uhlalutyo lomlinganiselo wengozi yezemali lunokwenzeka ukuba umngcipheko uya kwenzeka kunye nefuthe elinokubakho.

Uqala phi

Ucazululo lomlinganiselo womngcipheko wemali wenkampani luqala emva kokuchaza iziganeko zomngcipheko ezinokwenzeka. Injongo yayo ayikokuqikelela ilahleko enokwenzeka kuphela, kodwa kukunqanda ukuba zingenzeki.

Kucazululo lomngcipheko wetyala, yimeko apho kunokwenzeka ukuba umntu otyalwayo akakwazi ukugqiba ukuhlawula izibophelelo zakhe kuvavanywa.

Ngenxa yesi sizathu, ulawulo lomngcipheko wemali kufuneka luthathele ingqalelo izinto zangaphakathi nangaphandle ezinokubangela izoyikiso.

Izinto zangaphakathi zezo ziveliswa bubume beshishini lenkampani. Ulawulo olulambathayo lwemali okanye iingxaki zemveliso yimingcipheko enokuchaphazela ii-akhawunti kunye nexabiso lentengiso yenkampani.

Ngakolunye uhlangothi, izinto zangaphandle zixhomekeke kwiimeko zezopolitiko, ezoqoqosho kunye nezentlalo, ezichaphazela ukusetyenziswa kwezicwangciso kunye ne-logistics yokuphuhliswa kwenkampani, kubandakanywa neengxaki, ukungazinzi kwamaxabiso otshintshiselwano, ukuhluka kwishishini okanye kwiipolisi zelizwe.

Eyona ndlela ilula yokufaka isicelo uhlalutyo lomngcipheko wemali kwinkampani, kukuseka amathuba okuba umngcipheko uya kwenzeka kunye nelahleko yezoqoqosho enokuthi ibangelwe.

Emva kokuba imingcipheko ichaziwe kwaye emva kokukhetha esona sixhobo sifanelekileyo sokulawula imicimbi, inkampani inokugqiba ukuba iphephe okanye ithathele umngcipheko ngokwenqanaba lenkampani lokunyamezelana okanye ukuthanda umngcipheko.

La manyathelo ma-5 alandelayo alawula imingcipheko yezemali:

Inyathelo 1: Chonga imingcipheko engundoqo

Kwinkqubo yokuhlalutya umngcipheko wemali, yonke imingcipheko ejongene nayo inkampani yakho ichaziwe, kwaye inokuchaphazela (iindleko, amaxabiso, uluhlu, njl.), Imimiselo karhulumente, utshintsho lwezobuchwepheshe, utshintsho kubasebenzi, njl.

Inyathelo lesi-2: Bala Ubunzima boMngcipheko ngamnye

Ukubeka phambili imingcipheko kubalulekile ukulungelelanisa ngokufanelekileyo kunye nokuqondisa izibonelelo kunye neenzame. Ke, dala isicwangciso sokuqulela, ukuba kunokwenzeka ukuba isoyikiso senzeke.

Inyathelo lesi-3: Yenza iSicwangciso sokuNtuleka

Kubalulekile ukuqaphela ukuba ayizizo zonke iingozi ezinokujongwa ngendlela efanayo. Enyanisweni, ezinye zazo usenokungakwazi ukuzilawula okanye uphume esandleni. Yiyo loo nto kububulumko ukucacisa ukuphunyezwa kwezicwangciso ezingalindelekanga, ezisekelwe kwinqanaba lokunyamezelana kunye nokuthanda umngcipheko owenziwe yinkampani.

Inyathelo lesi-4: Yabela uXanduva

Akunakwenzeka ukumisela abo banoxanduva lomngcipheko ngamnye, enye indlela yokulawula ukutyumba umntu ojongene nokubeka iliso kwiziganeko ezibalulekileyo kunye nokuziphendukela kwemvelo ngexesha. Eyona nto inobulumko kukwahlula-hlula uxanduva kubasebenzi abafanelekileyo, abanoxanduva kwaye ungalubeke kwindawo eyodwa kumntu omnye.

Inyathelo 5: Misela imihla yokuphelelwa kwexesha

Ukubeka iliso nokulawula izicwangciso kunye nezicwangciso azinakwenziwa ngokungenasiphelo, njengoko izoyikiso zidla ngokuphindaphinda kwaye ziya kuphazamisa ngakumbi iinkqubo. Oku kugqiba amanyathelo ekufuneka enziwe, njengoko kufuneka asekelwe kwixesha elifunekayo ukwenza umsebenzi ngamnye.

Ixabiso kuMngcipheko (VaR): Yintoni?

Bubuchule bamanani obuvumela ukulinganisa nokuseka umngcipheko wemali kutyalo-mali. Ijongene nokucacisa ukuba nokwenzeka, ukuqwalasela ilahleko ngexesha lexesha.

Ichazwa njengento enokwenzeka yesiganeko kunye neziphumo zempembelelo okanye iziphumo.

Kukho izinto ezintathu eziguquguqukayo ezichaphazela isiganeko ngasinye kwaye ezi zezi: isixa selahleko, amathuba okulahleka kunye nexesha.

I-VaR ilinganisa umngcipheko wemali wotyalo-mali, olu phawu lwenza ukuba luqatshelwe kwaye lusebenze kakhulu kwihlabathi lezemali.

Iinkampani zinokuba noqikelelo oluqikelelwayo lweenzuzo eziya kuzifumana kwi-investment nganye xa kuthelekiswa ne-VaR yazo, kwaye ngaloo ndlela zikwazi ukutyala imali eninzi, apho kukho iimeko ezinomtsalane kunye nembuyekezo engcono kwiyunithi nganye yomngcipheko.

Ixabiso kuMngcipheko (VaR): Izinto eziluncedo

Iinzuzo ezahlukeneyo ezibonelelwa yindlela yeVaR zichazwe ngezantsi:

• Kulula ukuvavanya umngcipheko, kuba wonke umngcipheko wotyalo-mali ubekwe kwindawo kwinani elinye.
• Umlinganiselo womngcipheko uphantsi kwesikimu esisodwa, oko kukuthi, umgangatho kwaye, ngenxa yoko, unokuthelekiswa lula, njengoko ubalwa ngokubanzi.

Ixabiso kuMngcipheko (VaR): Izinto ezingeloncedo

Apha ngezantsi kucacisiwe, izinto ezingeloncedo ezahlukeneyo zendlela yeVaR:

• Ukuba luncedo kwale ndlela yokusebenza kunxulunyaniswa ngokusondeleyo neziphumo ezithe zasetyenziswa ukubala.
• Ayizizo zonke iimeko ezinzima eziqwalaselwayo kule ndlela yokusebenza.
• Ezinye zeendlela zokubala zibiza kakhulu kwaye kunzima ukuzisebenzisa.
• Umlinganiselo womngcipheko wemali es isigqiboe, ngayo nayiphi na inkqubo yokwenza imali enkulu. Ekubeni iqwalasela ezinye izinto (inzuzo kunye nexesha) isizathu sokuba amathuba okuba izinto zingahambi ngendlela ebeziqikelelwe ngayo zisekelwe kuzo, kwaye ngenxa yoko, ukhetho lokuba bavelise ilahleko.
• Ngaloo ndlela, umtyali-mali ngamnye kufuneka athathe izixhobo ezikhoyo kwaye athathele ingqalelo umngcipheko wemali wotyalo-mali, ukuze emva koko aseke izicwangciso zokusebenza kakuhle kwe-capitalisation.

Amaqhinga okunciphisa umlinganiselo womngcipheko wemali

Umngcipheko wemali kukwenzeka kweemeko ezineziphumo ezibi kuqoqosho lwenkampani okanye umbutho. Oku kuthathela ingqalelo ukuba nokwenzeka kokubini ingeniso kunye nelahleko eyenziwayo.

Iindidi zeengozi zemali

Xa iimeko ezinokuthi zibe yingozi kwishishini zifunyenwe, sinokuthetha ngeentlobo ezahlukeneyo zomngcipheko wemali:

• Utshintshiselwano: xa luchaphazela ukuguquguquka kweemali osebenza ngazo.
• Inzala: xa iinguqu zayo zichaphazela imali yeshishini.
• Enye ikhredithi, xa elinye lamaqela lingahambelani nezibophelelo ezisekwe kwikhontrakthi.
• Ubungakanani bemali (Liquidity): ukuba nawaphi na amaqela anee-asethi zemali, kodwa akakwazi ukuziguqula zibe yimali yokuhlawula amatyala, ukuhlangabezana nezibophelelo zabo.
• Ukusebenza: Ukuba kukho impazamo yomntu, yobugcisa okanye yangaphakathi eye yabangela ilahleko yemali.

Thatha umngcipheko wemali

Xa umngcipheko wemali ufunyaniswa, umntu ophethe inkampani unokujongana nayo ngeendlela ezintathu ezahlukeneyo: ukuyidlulisela (ngokuthengisa okanye ukucingelwa yi-inshurensi), ukuphepha ukuvezwa kuyo kunye nokuyigcina.

ulawulo lomngcipheko

Umceli mngeni ekufuneka usomashishini awucingele kukunciphisa ukubakho komngcipheko wemali kwishishini lakhe. Ukuba ngaphakathi kwezinto ezinokwenzeka akunakwenzeka ukuphelisa ukwenzeka kwesiganeko esinemiphumo emibi, kukho indlela efanelekileyo yokulawula ukubonakala kwayo; Ukuphumeza oku, le miba ilandelayo kufuneka ithathelwe ingqalelo:

• Ingeniso yotyalo-mali oluza kwenziwa.
• Ukulindela iingxaki ezinokwenzeka, ezinokuthi zenziwe ngokusekelwe kwidatha eqokelelwe kwizinto ezinxulumene nokutyalomali.

• Utshintsho kwiindidi ezahlukeneyo zotyalo-mali, ezinokunceda ubungozi babanye kunye nabanye abaneziqinisekiso ezingaphezulu. Oku kubandakanya inkqubo uthango, indlela yezoqoqosho apho i-asethi evela kwipotfoliyo efanayo idityanisiwe, ukwenzela ukuba ezona zikhuselekileyo zihlawulele ezona ziguquguqukayo.
• Ekugqibeleni, kuyimfuneko ukuvavanya iziphumo ezingaphelelanga ezifunyenwe ngexesha lokusebenza kwemali, ekubeni olu lwazi luya kunceda ukuqikelela iingxaki ezinokwenzeka kwixesha elizayo.