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To develop its production, the ABC company buys new equipment: Purchase price excluding VAT: 260 000 Reduction obtained from the supplier: 10 % WCR as
To develop its production, the ABC company buys new equipment: Purchase price excluding VAT: 260 000 Reduction obtained from the supplier: 10 % WCR as a % of turnover: 4% Duration of operation: 5 ans Annual turnover: 400 000 Annual growth rate of turnover: 5% Variable load rates: 25 % Annual fixed charges: 60 000 Depreciation of the asset: linaire Resale value excluding tax of the asset at the end of the 5 years: 20 000 Cost of ABC's financial resources (discount rate): 8% WORK TO DO 1. Complete the Excel cash flow table attached to this statement. 2. Define and calculate the NPV. 3. Define and calculate the TIR. 4. Should we invest in this equipment? Why? Tableau 1 : Capacits d'Auto-Financements conomiques FINN FIN N+1 FIN N+2 FIN N+3 FIN N+4 1) Chiffre d'affaires engendr par l'investissement Charges variables de production (d) + Charges de structure (hors amortissements) + Amortissements comptables de l'investissement (e) II) Total charges d'exploitation III) RCAI = I-II IV) IS = (III * Taux d'IS) V) Rsultat Net conomique = III - IV VI) Amortissement comptable de l'investissement VII) CAF conomique = V + VI Dbut N FINN FIN N+1 FIN N+2 FIN N+3 FIN N+4 Tableau 2 : Flux conomiques +/- CAF conomique - Augmentation du BFR (1) - Prix achat investissement + Valeur rsiduelle nette d'IS (2) + Rcupration du BFR (1) Flux conomiques (1) Tableau de calcul du BFR Dbut N FINN FIN N+1 FIN N+2 FIN N+3 FIN N+4 Chiffre d'affaires Niveau de BFR Variation du BFR To develop its production, the ABC company buys new equipment: Purchase price excluding VAT: 260 000 Reduction obtained from the supplier: 10 % WCR as a % of turnover: 4% Duration of operation: 5 ans Annual turnover: 400 000 Annual growth rate of turnover: 5% Variable load rates: 25 % Annual fixed charges: 60 000 Depreciation of the asset: linaire Resale value excluding tax of the asset at the end of the 5 years: 20 000 Cost of ABC's financial resources (discount rate): 8% WORK TO DO 1. Complete the Excel cash flow table attached to this statement. 2. Define and calculate the NPV. 3. Define and calculate the TIR. 4. Should we invest in this equipment? Why? Tableau 1 : Capacits d'Auto-Financements conomiques FINN FIN N+1 FIN N+2 FIN N+3 FIN N+4 1) Chiffre d'affaires engendr par l'investissement Charges variables de production (d) + Charges de structure (hors amortissements) + Amortissements comptables de l'investissement (e) II) Total charges d'exploitation III) RCAI = I-II IV) IS = (III * Taux d'IS) V) Rsultat Net conomique = III - IV VI) Amortissement comptable de l'investissement VII) CAF conomique = V + VI Dbut N FINN FIN N+1 FIN N+2 FIN N+3 FIN N+4 Tableau 2 : Flux conomiques +/- CAF conomique - Augmentation du BFR (1) - Prix achat investissement + Valeur rsiduelle nette d'IS (2) + Rcupration du BFR (1) Flux conomiques (1) Tableau de calcul du BFR Dbut N FINN FIN N+1 FIN N+2 FIN N+3 FIN N+4 Chiffre d'affaires Niveau de BFR Variation du BFR
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