全面的EVA计算手册(DOC 42页).docx

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EVAManual
GeneralConcept
TableofContents
GeneralConcept
I. Introduction 1
1. EVAisamanagementtoolthatmeasuresw
w
EVAManual
GeneralConcept
TableofContents
GeneralConcept
I. Introduction 1
1. EVAisamanagementtoolthatmeasurestrueeconomicprofit 1
2. EVAcanbeintegratedinallkeyprocesses 1
3. Decision-makingbasedonEVA 2
II. Decision-makingwithEVA 3
A. HowtobuildupEVAonoperatingunitlevel 3
1. Overview 3
2. NOPAT(Netoperatingprofitaftertax) 3
3. Investedcapital 4
4. Costofcapital 6
5. FocusonDeltaEVA 7
B. HowtobuildupEVAontheGroupandSBUlevel 8
C. UseofEVAintheXYmanagementsystem 9
1. Managementreporting 9
2. Capitalexpenditures 10
3. Portfolioanalysis 11
DetailsoftheEVACalculation
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Introduction
EVAisamanagementtoolthatmeasurestrueeconomicprofit
AllmanagersofXYshouldfocusonimprovingtheGroup’,forthefirsttime,thereisatoolthatreflectsnotonlytheoperatingperformance,,treatingthecompany’sresourcesasiftheyweretheirown.
EVAreflectsnotonlyoperatingprofitaftertaxes,butalsotakesintoaccountcostsfordebtandequitycapital.
Creatingshareholdervaluemaybeachievedbyimprovingperformance,growth,.
,setgoals,measureresults,-orientedincentivecompensationschemes.
EVAcanbeintegratedinallkeyprocesses
Typically,companiesuseavarietyofconflictingmeasuressuchasearningsgrowth,earningspershare,returnonequity,marketshare,grossandnetmargin,cashflow,NPVandROIC.
.
TheEVAfinancialmanagementsystemsupportsandmotivatesvalue-baseddecision-makingforday-to-dayoperatingdecisions,budgetingandcapitalp