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Tema 6 Analiza e Inventareve dhe aktiveve afatgjata

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1 Tema 6 Analiza e Inventareve dhe aktiveve afatgjata
Financial Statement Analysis October 2000 Tema 6 Analiza e Inventareve dhe aktiveve afatgjata As a general note, it is easy to get lost by focusing on the calculation of ratios. The students probably need more help in interpretation of ratios. Instruction should include both help with calculations and guidance in interpretation. C.J. Brown, M.M. Dutton and T.A. Rietz

2 Financial Statement Analysis
October 2000 Analiza e Inventareve Kompanite e tregtimit dhe prodhimit I gjenerojne shitjet e tyre nepermjet trasaksioneve te rregullta te inventareve Kompanite e tregtimit (me shumice e pakice) kane vetem inventare te prodhimeve te gatshme Kompanite e prodhimit kane tre tipe inventaresh: lende e pare, pune ne proces, prodhime te gatshme Uses 1.      Managers – to help analyze, control, improve a firm’s operations 2.      Credit analysts – to help ascertain a company’s ability to pay its debts 3.      Stock analysts – to determine a company’s efficiency, risk and growth potential C.J. Brown, M.M. Dutton and T.A. Rietz

3 Percaktimi I kostos se Inventareve
Financial Statement Analysis October 2000 Percaktimi I kostos se Inventareve Sipas IFRS , kosto e inventareve duhet te perfshije te gjitha kostot e blerjes, kostot e transformimit dhe te gjitha kostot e tjera te nevojshme per ta sjelle inventarin ne vendin dhe kushtet aktuale Kompanite duhet te perfshijne tek kosto e inventarit nje pjese te kostove fikse te punes bazuar ne nivelin e kapacitetit normal te punes Pjesa e paperfshire njihet si shpenzim I periudhes. Nuk perfshihen ne koston e inventreve dhe njihen si shpenzim cdo koto tjeter jo normale si dhe dhe kostot administrative dhe te shitjes C.J. Brown, M.M. Dutton and T.A. Rietz

4 Renia e vleres se Inventareve
Financial Statement Analysis October 2000 Renia e vleres se Inventareve Inventaret duhet te maten sipas vleres me te ulet midis vleres historike dhe “vleres neto te realizueshme” Vlera neto e realizueshme eshte cmimi I parashikuar I shitjes minus kostot e shitjes Nese vlera neto e realizueshme eshte me e vogel se vlera distorike nje “write down” e inventareve duhet te rregjistrohet Kjo write down njihet si shpenzim I periudhes Nese vlera e parashikuar rritet ne vitet e ardhshme, nje kthim I kesaj humbje eshte e mundshme por ky kthim do te limitohet ne vleren e write down Ky kthim rregjistrohet si fitim I periudhes Ne disa industri si ato te prodhimeve bujqesore, dhe te tregtimit te mineraleve eshte e mundshme qe inventaret te rregjistrohen me vleren neto te realizueshme dhe nese ajo eshte me e larte se vlera historike. Liquidity Ratios: Current Ratio Quick (Acid Test) Ratio Cash Ratio Net Working Capital to Total Assets Leverage Ratios: Total Debt Ratio Debt to Equity Ratio Equity Multiplier Long-term Debt Ratio Times Interest Earned Ratio Cash Coverage Ratio Activity (Turnover) Ratios: Inventory Turnover Days’ Sales in Inventory Receivables Turnover Days’ Sales in Receivables NWC Turnover Fixed Asset Turnover Total Asset Turnover Profitability Ratios: Profit Margin Return on Assets Return on Equity Valuation Ratios: Price to Earnings Market to Book C.J. Brown, M.M. Dutton and T.A. Rietz

5 Sipas IFRS mund te perdoret metoda e identifikimit specifik, e kostos mesatare dhe FIFO
- Sipas US GAAP mund te perdoret dhe metoda LIFO

6 Metodat e matjes se inventarit
Ndryshimi midis metodave te ndryshme te invetarizimit qendron ne cmimit qe ato perdorin per llogaritjen e kostove dhe inventareve. LIFO transferon ne koston e mallarve te shitura cmimet e fundit, dhe llogarit inventarin me cmimet e fillim . FiFO transferon ne koston e mallrave te shitura cmimet e para dhe llogarit gjendjet e invetarit me cmimet e fundit. Ndersa metoda e cmimit mesatar, perdor cmimin mesatar si per llogaritjen e kostos ashtue dhe e te inventarit.

7 Analiza financiare e inventareve
Gjate periudhave te cmimeve te qendrueshme, pra cmimi i lendeve te para apo produketeve te gatshme per shitje nuk dryshon , te treja metodat e vleresimit te inventarit do te japin te njejtat rezultate per inventarin, koston e mallrave te shitura (COGS) dhe fitimet. Gjate periudhave te rritjes se cmimeve, kur sasite e inventarit jane ne rritje , pika celes per tu mbajtur mend eshte qe, FIFO do te siguroje vleresimin me te perdorshem te vleres se inventarit dhe LIFO do te siguroje vleresimin me te perdorshem te kostos se produkteve te shitura.

8 Gjendja e inventarit FIFO- reflekton me saktesi vleren ekonomike te inventarit LIFO-Kur cmimet jane ne rritje, inventari i raportuar sipas LIFO do te jete me i ulet sesa ai i raportuar sipas FIFO, Kostoja mesatare- Kur cmimet ne rritje, inventari i raportuar duke perdorur metoden e kostos mesatare do te luhatet midis vlerave te inventarit ne LIFO dhe FIFO.

9 Fitimet LIFO- Ne kushtet e rritjes se cmimeve LIFO I reflekton kompanise me saktesi kostot ekonomike te saj, sepse pasi nen kete metode kosto e mallrave te shitura COGS llogaritet me cmimet e blerjeve te fundit. FIFO-Kur cmimet jane ne rritje, COGS e raportuara sipas FIFO do te jene me te ulta sesa ato te raportuara sipas LIFO. Rrjedhimisht, fitimet sipas FIFO do te jene me te larta sesa ato te raportuara sipas LIFO Kostoja Mesatare- Kostoja e produkteve te shitura dhe fitimet e raportuara duke perdorur metoden e kostos mesatare jane midis shifrave te raportuara duke perdorur LIFO dhe FIFO.

10 Efekti ne Fitim, Aktive dhe Flukset e Parase
Llogarite e Pasqyrave Financiare LIFO FIFO COGS Me i larte Me e ulet Fitmi para taksave Me i ulet Pagesa e tatimeve Me e larte Fitimi Neto Fluksi i Parase Gjendja e inventarit Kapitali Punues

11 Efekti ne raportet Raporte financiare LIFO FIFO Marzhi bruto Me i ulet
Me i larte Marzhi Neto Raporti Korent Qarkullimi i inventarit Borxh mbi kapitalin e vet

12 LIFO reserve Kompanite te cilat perdorin metoden LIFO, duhet te paraqisin ne notat e tyre shumen e Rezerves LIFO, ose shumes qe duhet te raportohej ne pasqyrat financiare nese do te perdorej metoda FIFO Ajo eshte diferenca midis vleres se inventareve sipas metodes FIFO dhe vleres se inventareve sipas metodes LIFO LIFO liquidation ndodh kur numri I njesive ne inventar bie Ne kushtet e rritjes se cmimeve te mallrave, kjo con ne rritje artificiale te fitimit te kompanise

13 Ndryshimi i metodes se Inventareve
Ndryshimi I metodes se invenateve eshte I lejueshem Por kompanite duhet te sqarojne pse metoda e re eshte me e mire Duhet te bejne nje rillogaritje te pasqyrave financiare te vieteve te kaluara

14 AKTIVET AFATGJATA

15 Aktivet afatgjata mund te jene:
1- te prekshme 2- Te paprekshme 3- financiare Aktivet afatgjata amortizohen pergjate kohes me perjashtim te tokes dhe aktive te paprekshme me jetegjatesi te pakufizuar (si psh emri I mire)

16 Efekti i kapitalizimit te shpenzimeve
Indikatori Efekti i Kapitalizimit Ndryshueshmeria ne fitimit neto Me I ulet Perfitueshmeria, e matur nga fitimi neto mbi shitjet Me E larte Perfitueshmeria, e matur nga ROA ose ROE Me e larte ne vitet e para, me e ulet ne vitet e mevonshme Fluksi operativ i parase Me i larte Raportet e leves financiare Me te Ulta

17 Aktivet afatgjata te patrupezuara
Aktivet afatgjata te patrupezuara te blera rregjistrohen me cmimin e blerjes Aktivet afatgjata te patrupezuara te zhvilluara brenda kompanise rregjistrohen si shpenzim Sipas IFRS disa shpenzime zhvillimi mund te kapitalizohen nese plotesohen disa kushte Kur nje kompani blen nje tjeter, nese cmimi I blerjes eshte me I madh sesa vlera e aktiveve te kompanise, diferenca rregjistrohet si emri I mire

18 Metodat e amortizimit Metoda lineare Metoda e pershpejtuar
Metoda e njesive te prodhimit

19 Llogaritja e Moshes Mesatare dhe Jetegjatesise Mesatare
Mosha mesatare ne vite= amortizimi I akumuluar/shpenzimet e amortizimit Mosha e mbetur ne vite= vlera neto/shpenzimet e amortizimit

20

21 Amortizimi i aktiveve te patrupezuara
Aktivet e patrupezuara me jetegjatesi te kufizuar amortizohen si aktivet afatgjata te trupezuara Aktivet afatgjata te patrupezuara me jete te pakufizuar nuk amortizohen Por ato duhet te testohen minimalisht nje here ne vit per renie te mundshme te vleres

22 Demtimet e aktiveve afatgjata
Demtim do te kemi ne ato raste kur disa ose te gjitha kostot e mbartura (sipas vleres ne pasqyren e bilancit aktual) te nje aktivi nuk mund te rekuperohen nepermjet operacioneve. Ka nje ndryshim midis aktiveve qe kompania ka vendosur te heqe do dhe aktiveve qe ajo do te vazhdoje ti perdore. Aktivet nga te cilat kompania do te heqe dore raportohen te ndara nga operacionet e vazhdueshme.

23 Provat e demtimeve Nje kompani duhet ta njohe nje demtim kur ka prova qe kostoja e mbartur e nje aktivi nuk mund te rekuperohet me. Ka kater indikatore te demtimit: 1- Nje renie e madhe ne cmimin e tregut, ndryshim fizik, ose ndryshim ne perdorimin e aktiveve. 2- Ndryshime negative ne klimen e biznesit. 3- Tejkalim i madh ne shpenzimet e mirembajtes 4- Parashikimi i nje renije te madhe ne perfitueshmerine afatgjate te aktivit.

24 Ndikimi i demtimit ne pasqyrat financiare
Efektet e Demtimit Flukset e parase Asnje efekt Aktivet fikse Zvogelohen Fitimi neto, ROA dhe ROE korrente Kapitali i aksionereve Zvogelohet Shpenzime amortizimi Fitimi neto, ROA dhe ROE ne te ardhmen Rriten Raportet e qarkullimit te aktiveve ne te ardhmen Raportet e leves financiare Mosha mesatare Rritet

25 Demtimi i aktiveve afatgjata
Informacionet mbi demtimet e aktiveve afatgjata mund te japin informacione te vlefshme mbi cash flown e ardhshem te kompanise Sipas IFRS dhe US GAAP vlera e aktiveve afatgjata mund te ulet si pasoje e demtimeve por nuk mund te rritet Sipas IFRS aktivet afatgjata mund te ulen nga demtimet dhe mund te rriten nese vlera e aktiveve rritet Kjo rritje rregjistrohet si e ardhur

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