工程经济学案例分析报告

1、标准标准文案文案某新建工业项目财务评价案例一、项目概况12%，基准投资回收期为 8.3 二、基础数据1.2 A 型及B 型两种，以 A 型为主。实施进度。项目拟两年建成，第三年投产，当年生产负荷达到设计能力的90%100%8 10 年。建设投资估算。建设投资估算见表1 8.30 人民币计算。流动资金估算采用分项详细估算法进行估算，估算总额为 3111.02 2302.72。7121.43 808.32 万元，其余为借款。资本金由甲、乙两个投资方出资，其中甲方出资3000 万元，从还完建设投资长期借款年开始，每年分红按出资额的 20%进行，经营期末收回投资。外汇全部通过中国银行向国外借款，年利率

2、为 9%；人民币建设投资部分由中国建设银行提供贷款，年利率为5.94%40%的比例分配。资金使用计划与资金筹措表见表3。500 人，工资及福利费按每人每年8000 400 万元（14%计算。15850 元计算（不含增值税17%。本项目采用价外计税方式考虑增值税。城市维护和建设税按增值税的7%计算，教育费附加按增值计算。年销售收入和年销售税金及附加见表4。产品成本估算。总成本费用估算见表5。成本估算说明如下：固定资产原值中除工程费用外还包括建设期利息19524.29 8 年，残值率为5%2318.51 万元。固定资产折旧费估算见表6。368.90 万元，按 8 46.11 400 5 80 无形

3、资产及递延资产摊销费计算见表7。修理费计算。修理费按年折旧额的50%提取，每年 1159.25 万元。借款利息计算。流动资金年应计利息为 136.78 万元，长期借款利息计算见表 8-21。生产经营期间应计利息计入财务费用。款利息。固定成本包含总成本费用中除可变成本外的费用。损益和利润分配。损益和利润分配表见表3617.36 万元。所得税按利润总额的 33%计取，盈余公积金按税后利润的 10%计取。三、财务评价全部资金财务现金流量表，见表 IRR)为 17.62%，全部资金财务净现值时）4781.34 万元。全部资6.17 （含建设期8.3 年，表明项目投资能按时收回。9，根据该表计算资本金内

4、部收益率为18.22%。10，根据该表计算甲方投资内部收益率为9.80%。根据损益及利润分配表（表1、建设投资估算表（表）计算以下指标：投资利润率 年利润总额100% 总资金3617.3620293.19100% 17.83%该项目投资利润率大于行业平均利润率8%，说明单位投资收益水平达到行业标准。估算价值表1建设投资估算表单位：万元估算价值序号工程或费用名称其中外汇占总值比（%）建筑工程设备费用安装工程其他费用总值（万美元）1建设投资（不含建设期利息）1559.2510048.953892.953642.3019143.45976.25100%1.1第一部分 工程费用1559.2510048

5、.953892.950.0015501.1581%1.1.1主要生产项目463.507849.353294.0011606.85其中：外汇639.00179.25818.25818.251.1.2辅助生产车间172.35473.4022.95668.701.1.3公用工程202.051119.60457.651779.301.1.4环境保护工程83.25495.00101.25679.501.1.5总图运输23.40111.60135.001.1.6厂区服务性工程117.90117.901.1.7生活福利工程496.80496.801.1.8厂外工程17.1017.101.2第二部分 其他费用

6、1368.901368.90158.007%其中：土地费用600.00600.00第一、第二部分合计1559.2510048.953892.951368.9016870.051.3预备费用2273.402273.4012%2建设期利息1149.7499.02合计（1+2）1559.2510048.953892.953642.3020293.191075.27表 2流动资金估算表单位：万元序号项目年份最低周转天数周转次数3投产期4达到设计生产能力期561流动资产2925.503645.154001.224001.221.1应收账款3012769.17951.031040.031040.031.2

7、存货15242117.992655.782922.852922.851.3现金38.3438.3438.3438.342流动负债622.80800.93890.20890.202.1应付账款3012622.80800.93890.20890.203流动资金2302.702844.223111.023111.024流动资金增加额2302.70541.52266.800.00标准序年份合计1资金使用计划与资金筹措表23号项目人民币外币折人民币人民币小计外币折人民币 人民币小计外币 折人民人民币小计 外币折人民1总投资23404.2612.115080.506712.2811792.78463.16

8、3844.254656.168500.410.000.002302.702302.70 0.000.001.1)19143.4585.754861.736624.3511486.07390.503241.154416.237657.381.2建设期利息1149.7426.36218.7887.93306.7172.66603.10239.93843.031.3流动资金3111.022302.702302.702资金筹措23404.22.1自有资金7121.433787.873787.872525.242525.24808.32808.32其中：用于流动资金0.00808.32808.322.1

9、.1资本金7121.433787.873787.872525.242525.24808.32808.322.1.2资本溢价0.000.000.000.002.2借款16282.7612.115080.502924.418004.91463.163844.252130.925975.170.000.001494.381494.38 0.000.002.2.1长期借款12830.3585.754861.732836.487698.20390.503241.151890.995132.142.2.2流动资金借款2302.701494.381494.382.2.3建设期利息1149.7426.3621

10、8.7887.93306.7172.66603.10239.93843.030.000.000.000.002.3其它注：各年流动资金在年初投入序号项目70%（序号项目70%（3）90%（4）单价（元）销售量（吨）金额（万元）销售量（吨）金额（万元）销1产品销售收入15850.008400.0013314.0010800.0017118.002销售税金及附加99.25127.60增值税销项2263.382910.06增值税进项1270.921634.04增值税992.461276.022.1城市维护建设税（增值税*7%）69.4789.322.2教育费附加（增值29.7738.28注：1.增值

11、税仅为计算城市维护建设税和教育费附加的依据；2.本报表税金的计算方法采用不含增值税的计算方法。文案文案文案标准表5总成本费用估算表单位：万元序号项目年份合计3投产期456达到设计生产能力期78910生产负荷（%）70901001001001001001001外购原材料71811.006614.408503.809448.809448.809448.809448.809448.809448.802外购燃料、动力9357.00861.601108.201231.201231.201231.201231.201231.201231.203工资及福利费3200.00400.00400.00400.00

12、400.00400.00400.00400.00400.004修理费9274.041159.251159.251159.251159.251159.251159.251159.251159.255折旧费18548.072318.512318.512318.512318.512318.512318.512318.512318.516摊销费768.90126.11126.11126.11126.11126.1146.1146.1146.11财务费用73820.301205.421017.02702.06348.68136.78136.78136.78136.78（利息、汇兑损失）7.1其中：利息支

13、出3820.301205.421017.02702.06348.68136.78136.78136.78136.788其他费用4161.60520.20520.20520.20520.20520.20520.20520.20520.20总成本费用9120940.9113205.5015153.0915906.1415552.7615340.8615260.8615260.8615260.86（1+2+3+4+5+6+7+8）其中：固定成本35952.614524.084524.084524.084524.084524.084444.084444.084444.08可变成本84988.30868

14、1.4210629.0211382.0611028.6810816.7810816.7810816.7810816.7810经营成本97803.649555.4511691.4512759.4512759.4512759.4512759.4512759.4512759.45（9567.1）序号年份折旧率投产期序号年份折旧率投产期达到设计生产能力期合计项目（%）3456789101固定资产合计1.1原值19524.291.2折旧费18548.0711.88%2318.512318.512318.512318.512318.512318.512318.512318.51净值17205.781488

15、7.2712568.7610250.257931.745613.233294.72976.21文案文案标准递延资产25400.00（开办费）递延资产25400.00（开办费）2.1摊销80.0080.0080.0080.0080.002.2净值320.00240.00160.0080.000.00无形及递延序号项目年份摊销年限原值3投产期456达到设计生产能力期789101无形资产8368.901.1摊销46.1146.1146.1146.1146.1146.1146.1146.111.2净值322.79276.68230.56184.45138.3492.2246.110.003资产合计76

16、8.903.1摊销126.11126.11126.11126.11126.1146.1146.1146.113.2净值642.79516.68390.56264.45138.3492.2246.110.00表8全部资金财务现金流量表单位：万元序号项目合计1建设期23投产期456达到设计生产能力期78910生产负荷（%）70901001001001001001001现金流入148639.230.000.0013314.0017118.0019020.0019020.0019020.0019020.0019020.0023107.231.1产品销售收入144552.0013314.0017118.

17、0019020.0019020.0019020.0019020.0019020.0019020.001.2 回收固定资产余值976.21976.211.3回收流动资金3111.023111.022现金流出121135.6411486.077657.3811957.4012360.5813168.0312901.2312901.2312901.2312901.2312901.23建设投资（不含建2.119143.4511486.077657.38设期借款利息）2.2流动资金3111.022302.70541.52266.802.3经营成本97803.649555.4511691.4512759.

18、4512759.4512759.4512759.4512759.4512759.452.4销售税金及附加1077.5399.25127.60141.78141.78141.78141.78141.78141.783净现金流量27503.60 -11486.07 -7657.381356.604757.425851.976118.776118.776118.776118.77 10206.004累计净现金流量-11486.07-19143.45-17786.85 -13029.43-7177.46-1058.705060.0711178.8317297.60 27503.60计算指标：全部资金财

19、务内部收益率FIR）=17.62；全部资金财务净现值FNPi=12=4781.34万元全部资金静态投资回收期（从建设期算起年标准标准文案文案表9资本金财务现金流量表单位：万元序号项目年份合计1建设期23投产期456达到设计生产能力期78910生产负荷（%）70.0090.00100.00100.00100.00100.00100.00100.001现金流入148639.230.000.0013314.0017118.0019020.0019020.0019020.0019020.0019020.0023107.231.1产品销售收入144552.0013314.0017118.0019020.

20、0019020.0019020.0019020.0019020.0019020.001.2回收固定资产余值976.21976.211.3回收流动资金3111.023111.022现金流出133541.753787.872525.2414122.3217118.0019020.0017765.0414205.3414231.7414231.7414231.742.1资本金7121.433787.872525.24808.322.2借款本金偿还16282.782450.823675.624435.923417.722302.702.3借款利息支付3820.301205.421017.02702.0

21、6348.68136.78136.78136.78136.782.4经营成本97803.649555.4511691.4512759.4512759.4512759.4512759.4512759.4512759.452.5销售税金及附加1077.5399.25127.60141.78141.78141.78141.78141.78141.782.6所得税7436.073.05606.31980.791097.401167.331193.731193.731193.733净现金流量15097.48-3787.87-2525.24-808.320.000.001254.964814.664788

22、.264788.266572.79计算指标：资本金内部收益率：18.22%表10甲方投资财务现金流量表单位：万元序号项目年 份合计1建设期23456达到设计生产能力期78910生产负荷（%）70901001001001001001001现金流入60006006006006003600股利分配资产处置收益分配租赁费收入技术转让收入其他现金流入2现金流出60003000150015006006006006003600股权投资租赁资产支出其他现金流出3净现金流量300018001500-15001500-15006006006006003600计算指标：甲方投资内部收益率：9.80%表11损益和利润

23、分配表单位：万元序号项目年 份合计3投产期456达到设计生产能力期78910生产负荷（%）70901001001001001001001产品销售收入144552.0013314.0017118.0019020.0019020.0019020.0019020.0019020.0019020.002销售税金及附加1077.5399.25127.60141.78141.78141.78141.78141.78141.783总成本费用120940.9113205.5015153.0915906.1415552.7615340.8615260.8615260.8615260.864利润总额（1-2-3）

24、22533.569.251837.312972.083325.463537.363617.363617.363617.365所得税（33%）7436.073.05606.31980.791097.401167.331193.731193.731193.736税后利润 15097.486.201230.991991.302228.062370.032423.632423.632423.637可供分配利润15097.486.201230.991991.302228.062370.032423.632423.632423.637.1 赢余公积金（10%） 964.097.2应付利润0.007.3未分

25、配利润14133.396.201230.991991.302228.06237.002133.03242.362181.27242.362181.27242.362181.27累计未分配利润6.201237.193228.495456.557589.589770.8511952.1214133.39表12资金来源与运用表单位：万元序号项目年份合计建设期12345达到设计生产能力期678910生产负荷（%）70901001001001001001资金来源69341.9811792.788500.414756.584823.455683.515770.095981.985981.985981.98

26、10069.221.1利润总额22533.569.251837.312972.083325.463537.363617.363617.363617.361.2折旧费18548.072318.512318.512318.512318.512318.512318.512318.512318.511.3摊销费768.90126.11126.11126.11126.11126.1146.1146.1146.111.4长期借款13980.088004.915975.170.001.5流动资金借款2302.701494.38541.52266.801.6其他短期借款0.001.7自有资金7121.4337

27、87.872525.24808.321.8其它0.001.9回收固定资产余值976.21976.211.10回收流动资金3111.023111.022资金运用47123.0611792.788500.414756.584823.455683.514515.131167.331193.731193.733496.432.1固定资产投资19143.4511486.077657.382.2建设期利息1149.74306.71843.032.3流动资金3111.022302.70541.52266.802.4所得税7436.073.05606.31980.791097.401167.331193.73

28、1193.731193.732.5应付利润0.002.6长期借款本金偿还13980.082450.823675.624435.923417.72流动资金借款本金2.72302.702302.70偿还2.8 短期借款本金偿还0.003盈余资金22218.910.000.000.000.000.001254.964814.664788.264788.266572.794累计盈余资金0.000.000.000.000.001254.966069.6110857.8715646.1322218.91表13长期借款偿还计划表单位：万元序号项目年份利率（%）1建设期23投产期4达到设计生产能力期561外汇

29、借款（折成人民币）9%1.1年初借款本息累计5080.508924.756473.932798.311.1.1本金4861.738102.886473.932798.311.1.2建设期利息218.78821.871.2本年借款4861.733241.151.3本年应计利息218.78603.10803.23582.65251.851.4本年偿还本金2450.823675.622798.311.5本年支付利息803.23582.65251.852人民币借款6.20%2.1年初借款本息累计2924.415055.335055.335055.333417.722.1.1本金2836.484727.

30、475055.335055.333417.722.1.2建设期利息87.93327.862.2本年借款2836.481890.992.3本年应计利息87.93239.93313.43313.43313.43211.902.4本年偿还本金1637.613417.722.5本年支付利息313.43313.43313.43211.903偿还借款本金的资金来源3.1利润6.201230.991991.302228.063.2折旧费2318.512318.512318.512318.513.3摊销费126.11126.11126.11126.11偿还本金来源合计3.42450.823675.624435.924672.68（3.1+3.2+3.3）3.4.1偿还外汇本金2450.823675.622798.310.003.4.2偿还人民币本金