TAI CHlNH DOANH NGHIEP ( So 5(70)-2009 )
NGUYEN T^C ccf BfiN DE Tfil TRO VON
DOI VOl DOfiNH NGHIEP TRONG NEN KINH TE THj TRITONG
': . i 1/ !:.; '. hi; i ;-\;' TS .Nguyen Minh Hoang ,— i , ; , , Doan Hu'cng Quynh
" J T Wogch dinh cacdu von Id mpt vdn diphuc tgp vd cd nhieu tranh lugn trong ITnh vuc tdi chinh m~~W doanh nghiep, nd hdu nhir mdl me ddi v&i cdc doanh nghiep & Viet Nam hien nay. Dira tren JL JL suphan tich dnh hu&ng cua don bdy, don bdy tdl chinh, ddnh gid cdc mat lal the vd but lal
cua tiing hinh thirc tdl tra. Cdc nhd kinh te kh uyen cdo rung, de tcio mot ca cdu von hap ly, giup doanh nghiep cd thi dgt cdc muc tieu dgt ra, viec tdl trp: vd ddu tu phdi tudn thd 5 nguyen tdc cabdn ve hogch dlnh ca cdu von du&i day:
vdn lau dai can dugc tai trg bang cac ngudn vdn dn djnh la: vdn chu sd huu va cac ngudn tai trg dai han khac. Cdn tai san luu ddng tam thdi can dugc tai trg bang cac ngudn vdn ngan ban, nham giam thieu riii ro mat kha nang thanh toan, lanh manh hoa tinh hinh tai chinh doanh nghiep.
Nguyen tac thir hai: Hoach
gian tao ra cac ngudn tien ciia cac djnh ca cau vdn phai tinh din nhuan va rui ro trudc khi quylt loai tai san cung khdng gidng anh hudng ciia ddn bSy tai chinh djnh cacau vdn theo hudng tang nhau. Vi vay, de dam bao doanh va ddn bay kinh doanh (nguyen ty trgng vdn vay, va sii' dung tien nghiep cd kha nang thanh toan d tac can ddi gitra lgi nhuan va riii vay dl mua sSm cd djnh cho dir bat ky thdi diem nao, giam thilu ro). = " • an cua doanh nghiep.
rui ro vl tai chinh thi viec tai trg ^g^^g^ ^4, „^y ^ ^ „ , ^^^ ^^^^ ^^, ^^^^^^ ^.^ „^y^
va ca cau von can cd su tuang ^..^g j ^ ^ ^^en su phan tich tac mudn thien vl an toan, giam thich giua thai gian dugc quyen ddng cd tinh chSt ddn bSy ciia chi thilu riii ro kinh doanh variii ro su dung vdn vdi chu ky sinh Idi p,,,- , 5 ^i^,, va ng vay. N I U nhu tai chinh thi nha quan tri phai cua tai san dautu. • - t^ \ w A .*- 1 •- •, , x .1 ,
mgi yeu to khac dugc danh gia giam ty trgng ng vay, so tien huy Nguyen tac nay yeu cau cac trong ciing mdt mat bSng thi he ddng dugc nen uu tien cho ngudn vdn tai trg cho doanh so vl ddn hhy kinh doanh cdn nhung tai san tam thdi, nhirng tai nghiep phai cd thdi gian hoan tra tugng trung cho do ldn cua riii ro san cd kha nang thanh khoan vdn gdc va lai phil hgp vdi chu ma doanh nghiep cd thl gap cao. Viec cacSu lai vdn, gia tang ky sinh Idi ciia nhung tai san dau phai. Tac ddng ddn bay kinh cac khoan ng nhim phat huy anh tuvao doanh nghiep. doanh va ddn bay tai chinh tao hudng ciia hieu iing ddn hhy chi
Vdi yeu chu nhu vay, tai san "^" '•"?" ung ddn bay tdng hgp, nen sir dung khi san lugng dugc CO djnh va tai san luu dgng ^^ '^ su anh hudng theo cSp sd danh gia la cd thl vugt xa dilm thudng xuyen cd thdi gian hoan "han- Tac ddng nay se anh hoa vdn vdi do tin cay that cao. ^
hudng rat ldn din Igi ich ciia chii Nguyen tac thir nhat: Hoach
djnh ca cau vdn phai dam bao su phil hgp giua thdi gian dao ban cac ngudn tai trg vdi chu ky sinh ldi ciia tai san dau tu (nguyen tat dam bao tinh tuang thich)
Nguyen tac nay dugc xay dung dua tren mdt thuc te la cac ngudn tai trg cd thdi gian dao han rat khac nhau, trong khi thdi
sd hCru, neu doanh nghiep di vay nhieu, ddng thdi lai sir dung tien vay de dau tutai san cd djnh. Tac ddng nay cd tinh hai mat. N6 co the tao ra nhtrng budc phat trien nhay vgt nhung cung cd the dua doanh nghiep mau chdng den bd vuc pha san.
Nguyen tac nay yeu cau phai cd su suy xet than trgng gitra Igi
v38> T a p chf nghien cdu Tdi chfnh k e ' t o d n
( So 5(70)-2009 )
TAI CHINH DOANH NGHIEP
Cd the tdm ggn trong mdt cau ddi vdi nguyen t4c nay la; "Can phai biet phan biet dau tu vdi danh bac neu mudn lanh manh hoa tinh hinh tai chinh doanh nghiep".
Nguyen tac thir ba: Hoach djnh ca cau vdn phai dam bao duy tri quyen kiem soat doanh nghiep (nguyen tac dam bao quyen kiem soat).
Ca sd ciia nguyen tac nay la d chd, chii sd htru ludn cd muc tieu nam quyen kiem soat doanh nghiep. Quyen kiem soat ty le thuan vdi sd vdn gdp. Vi vay dam bao nguyen tac nay, viec tai ca cau vdn phai thuc hien theo hudng gia tang ty trgng vdn chii sd huu du Idn de doanh nghiep cd the ddc lap ve tai chinh, chii sd hiru cd the chii dgng quyet djnh nhu'ng van de quan trgng trong san xuat kinh doanh, khdng phu thudc vao ngudi khac.
Tren thuc te, de nam quyen kiem soat doanh nghiep, ngudi ta cd the thuc hien bang nhieu each khac nhau. Thdng qua cd cau vdn- gia tang ty le vdn gdp cung la mdt each de ngudi ta thay ddi quyen kiem soat doanh nghiep. Doi vdi cac doanh nghiep tu nhan- doanh nghiep mgt chii, van de nay thudng khdng can phai dat ra. Nhung ddi vdi doanh nghiep da sd htru thi quyen kiem soat lai la mdt van de 16n
Nguyen tac nay yeu cau, de duy tri quyen kiem soat, doanh nghiep phai huy ddng vdn bang each vay, thue, phat hanh trai phieu hoac cd phieu uu dai neu
cac ngudn vdn chii sd huu hien hanh khdng dii tai trg cho du an mdi.
Tuy nhien cung can luu y rang, each huy dgng vdn nhu tren de duy tri quyen kiem soat khdng phai liic nao cung dung.
Doanh nghiep hay chii sd huu cd the bj mat toan bd quyen kiem soat neu huy ddng vdn vay vugt kha nang chi tra cac khoan ng.
Do '\ a_\. hy sinh su an toan ve tai chinh cung la mdt yeu cau can dugc xem xet khi tang ty trgng ng vay trong ca cau vdn.
Nguyen tac thii- tu: Hoach
ngudn vdn. Ngoai ra, viec da dang hoa cac hinh thirc tai trg bang each bd sung them cac dieu khoan ve kha nang thu hdi trudc han ddi vdi trai phieu va cd phieu uu dai cung giiip cho doanh nghiep cd the chii ddng dieu chinh CO' cau vdn mdt each kjp thdi khi can thiet. ;
Nguyen tac thii-nam: Hoach djnh CO' cau vdn phai tdi thieu hoa chi phi sir dung vdn (nguyen tac tdi thieu hoa chi phi sir dung vdn).
Nguyen tac nay dugc xay dung tren quan diem cho rang.
djnh ca cau vdn phai dam bao chi phi sii' dung vdn hay la gia tinh linh boat trong tai trg vdn vdn la gia ciia thj tru'dng. Mdi (nguyen tac tai trg linh boat).
Tinh linh hoat trong tai trg vdn la kha nang dieu chinh tang, giam ngudn vdn cho phii hgp vdi su thay ddi ve nhu cau vdn qua cac thai ky kinh doanh.
Nguyen tac nay dugc dua ra dua tren nhan djnh rang: Nhu cau vdn chju anh hudng bdi tinh
"miia vu" ciia san xuat kinh doanh. Doanh nghiep mudn md rdng san xuat song nhieu khi cung mudn thu hep quy md dau tu. Do vay de dam bao nang cao dugc tinh linh hoat trong vdn phai xay dung tren ca sd giiip doanh nghiep tang dugc kha nang mac ca vdi cac nha cap vdn tren thj trudng.
Tuan thii nguyen tac nay, cd the thay rang, viec uu tien gia tang ty trgng cac khoan ng. nhat la ng ngan han, cd the cho phep
ngudn tai trg cd yeu cau ve chi phi sir dung vdn - gia vdn khac nhau. Gia vdn ciia mdi hinh thirc tai trg cung bien ddng theo chu ky kinh te. Vi vay, xay dung ca cau vdn, nham tdi da hoa lgi ich cho chii sd huu doanh nghiep.
Tuan thii nguyen tac nay, ddi hdi nha quan trj doanh nghiep phai danh gia dugc xu the bien ddng ve gia vdn tren thj trirdng de lira chgn thdi diem huy ddng vdn thich hgp. Mat khac, ca cau vdn phai nghieng ve cac ngudn tai trg cd thdi gian dao han ngan, thdi gian hoan tra vdn gdc va lai cd the dieu chinh mdt each linh boat, nhu cd phieu uu dai. trai phieu cd the chuyen ddi thanh cd phieu, va cac ngudn tai trg khac.
Tren day la cac nguyen tac ca ban hoach djnh cacau tai trg vdn ddi vdi doanh nghiep trong nen kinh te thi trut~inu. Trone cac Ciic nha quan trj nhung co' hdi
thuan lgi dl dilu chinh linh hoat "S^y^" ^"^ ^o, khdng cd nguyen tac nao quan trgng hon cac
(Xem tiep trang 42) T a p chf nghien cdu Tdi chfnh ke t o d n \33,
TAI CHINH DOANH NGHIEP
ciia nhan vien doanh nghiep dugc kiem toan thuc hien phan cdng viec ciia hg diing hay khdng.
+ Kiem tra toan bd cac khau cdng viec hay cdn ggi la kiem tra tir dau den cudi, la viec kiem tra cac nghiep vu ciing loai tii' khi bat dau phat sinh ghi tren cac chiing tir ke toan, viec ghi tir chirng tir ke toan vao cac sd ke toan tdng hgp va sd ke toan chi tiet. Cdng viec kiem tra nay cung cap bang chiing kiem toan tin cay va xac nhan boat ddng kiem soat da luu gitra tai lieu chinh xac hay khdng;
+ Kiem tra nhan manh: La bien phap kiem tra boat ddng kiem soat ddi vdi mdt loai nghiep vu. Loai nghiep vu dugc kiem tra phai la nhung nghiep vu mang tinh quan trgng ve boat ddng ciia doanh nghiep. Cdng viec nay cung cap bang chirng kiem toan thich hgp ciia he thdng kiem soat ndi bd, giiip cho KTV cd ca sd danh gia chinh xac ban tinh hinh thuc te ciia he thdng kl
( So 5(70) - 2009 )
toan va he thdng kiem soat ndi bd ciia doanh nghiep;
+ Kilm tra tir dau den cudi ngugc lai: La ky thuat kiem toan kilm tra mdt nghiep vu da dugc ghi sd cai ngugc lai thdi diem bat dau nghiep vudd.
Sau khi thu thap dugc cac bang chimg kiem toan ve ti'nh hieu lire ciia he thdng ke toan va he thong kiem soat ndi bd ciia doanh nghiep dugc kiem toan, KTV phai danh gia cac bang chiing nay va so sanh vdi nhti'ng danh gia ban dau ciia minh ve he thdng, ddng thdi phai sir ly nhung tinh hudng sau day:
Mot la, neu cac bang chu'ng kiem toan thu thap dugc phii hgp vdi cac danh gia ban dau ciia KTV ve he thdng ke toan va he thdng kiem soat ndi bd cua doanh nghiep dugc kiem toan thi KTV tiep tuc thuc hien cac thii tuc kiem toan tiep theo nhu da neu tren day;
Hai la, neu cac bang chung kiem toan thu thap dugc khdng
phil hgp vdi cac danh gia ban dau ciia KTV ve he thdng ke toan va he thdng kiem soat ndi bd ciia doanh nghiep dugc kiem toan thi can phai thao luan vdi lanh dao doanh nghiep, ddng thdi cd the thuc hien cac thii tuc kiem toan bd sung cho phii hgp;
Viec thu thap bang chirng kiem toan cd the dugc KTV thuc hien cac thii tuc kiem tra chi tiet cac nghiep vu de xac djnh he thdng khdng cd nhung khiem khuyet trgng yeu va khdng cd sai sdt ldn nen van cd the cd nhan djnh phil hgp vdi nhung danh gia ban dau. Ngugc lai, KTV can co su thay ddi danh gia lai ve tinh hieu luc cua he thdng ke toan va he thdng kiem soat ndi bd./.
Tai lieu tham khao:
-Quyit dinh sd 04/1999/QD- KTNN ngdy 22/10/1999 vi quy trinh kiem toan doanh nghiep nhd nuac
-Tgp chi nghien ciru khoa hoc kiem todn
NGOYEN TfiC CO BfiN DE Tfil TRO VON...
C Tiep theo trang 39)nguyen tac cdn Iai, thir tu uu tien ddi vdi cac nguyen tac la tuy thudc vao quyen quyet djnh ciia Giam ddc tai chinh. Trong nhiiu trudng hgp, cac ylu td anh hudng den viec tuan thii nguyen
tac cd the mang tinh khach quan va bat kha khang, nSm ngoai su chi phdi ciia Giam doc tai chinh.
Do vay, de van dung tot, lanh dao doanh nghiep nhk thilt phai dat chiing trong mdi trudng cu thl
ciia boat ddng kinh doanh, dac diem nen kinh te, dac diem nganh kinh doanh va dac diem ciia doanh nghiep./.
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s 4 2 ) T a p chf nghien cdu Tdi chfnh k e t o d n
